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Ripple sells over $ 15 million worth of MoneyGram shares

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7 months ago

Ripple Labs decided to sell off the massive MoneyGram stock they acquired in 2019, and although Ripple's relationship with MoneyGram was incompatible. But it is worthwhile for both Ripple and this investment. By the beginning of the same journey of both of them This came about in principle Ripple's statement about making a big investment with MoneyGram in June of last year. And that brings them back to using XRapid technology to help accelerate payment systems, where XRapid will provide liquidity in XRP applications. Addressing various issues of both organizations together with the Securities and Exchange Commission And the Stock Exchange (Securities and Exchange Commission) in connection with the massive sell-off of shares Began on Friday, November 27 the past. The long-haul runs until December 4, 2020, with operations taking place every Friday night of each week. Ripple Labs sold 2,264,113 MoneyGram (MGI) shares, and the tech company managed to sell a total of 2,264,113 shares of MoneyGram (MGI). USD 15,303,792.60 Ripple sells it at a very good pace. MoneyGram's share value has increased significantly in the past few months, from $ 2.94 on Oct. 1 to $ 8.53 on Nov. 23. News of Ripple's massive sale of shares brought MGI's stock at that time to $ 6.54. Despite the turmoil in announcements about a 2019 merger between financial services firm Ripple, their relationship had to come to an end earlier this year. However, a Ripple spokesperson gave an interview with Cointelegraph said “Ripple is a proud partner of MoneyGram's growth, and the decision of this sale has been carefully considered. The company is aware of certain benefits from investing in MGI shares, and doing so does not reflect the current financial position of our partners. ” Ripple still owns $ 4.8 billion of XRP. The organization has spent the past several years reducing its investment role in the token. Recently, the price of the token has increased and may change such situations.

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