Ripple
Ripple acquires Pantera’s stake in Bitstamp
Blockchain-based digital payment network Ripple took a minority stake in crypto exchange Bitstamp in the first quarter of 2023. Digital investment firm Galaxy Digital advised on the deal, according to a transcript of the May 9 Galaxy shareholder conference call.
Ripple acquired shares previously owned by Pantera Capital, a digital asset investment firm based in the United States. Since 2014, Pantera was the largest shareholder in Bitstamp, along with its CEO Dan Morehead, jointly owning 10% of the company.
“More broadly in our global markets business, on the back of a record year for our investment banking team, we advised Pantera, a leading blockchain asset management firm on the sale of its stake in European digital asset exchange Bitstamp to Ripple Labs in Q1,” said Galaxy president and chief information officer Chris Ferraro.
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