Bloomberg: Ripple Labs plans to lead $1 billion investment to build XRP reserve strategy

According to Odaily Planet Daily, Ripple Labs is leading a fundraising effort through a special purpose acquisition company (the specific name of which has not yet been disclosed) to raise at least $1 billion to accumulate its associated digital token, XRP. The funds will be invested in a newly established digital asset reserve, with Ripple Labs also contributing some of its own XRP. (Bloomberg)