A bankruptcy court has signed off on a $130 million sale of Ripple shares, with Galaxy Digital stepping in as the anchor buyer at $60 million. That single block from Galaxy represents nearly half the total transaction, making the firm the dominant player in the deal.
The sale emerged from bankruptcy proceedings, a detail that puts the shares in a specific legal context: creditors and estate administrators needed court approval before any transfer could move forward. That approval is now in hand.
How the deal stacks up
Galaxy's $60 million commitment anchored the broader $130 million round. The remaining $70 million came from additional buyers, though their identities have not been disclosed in detail. For context, Ripple's last publicly referenced private valuation was in the multi-billion dollar range, so these shares are changing hands at a meaningful discount relative to peak figures from the bull cycle.
Court-supervised share sales of this kind are relatively uncommon in crypto. The process requires a judge to confirm the transaction is in the best interest of the bankruptcy estate, which typically means creditors stand to recover something meaningful from the proceeds.
Galaxy Digital, which has been expanding its institutional crypto footprint aggressively over the past two years, adds a significant private equity-style stake in Ripple to its portfolio. Ripple itself has been navigating its long-running legal battle with the SEC, and secondary share activity of this scale signals that institutional buyers remain confident enough in the company's trajectory to commit nine-figure sums.
The court's clearance removes the last procedural hurdle. Settlement and transfer logistics are now the remaining steps before the deal closes formally.
This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
