 ▲ XRP and Japanese Yen / AI-generated image |
Japanese financial giant SBI Holdings has officially denied circulating rumors that it holds $10 billion worth of XRP, sounding the alarm on excessive speculation in the cryptocurrency market.
According to crypto-focused media outlet U.Today on February 15 (local time), SBI Holdings Chairman Yoshitaka Kitao stated via the social media platform X (formerly Twitter) that rumors claiming the company owns $10 billion in XRP are not true. Chairman Kitao emphasized that the information spreading within the community was baseless and unfounded, urging investors to exercise caution.
The incident began when some cryptocurrency influencers arbitrarily interpreted SBI Holdings’ financial reports and raised the possibility of massive XRP holdings. The astronomical figure of $10 billion, representing a significant portion of XRP’s total market capitalization, caused considerable disruption among market participants. Chairman Kitao appears to have stepped in personally to prevent potential market distortion stemming from the misunderstanding.
SBI Holdings is one of Ripple’s strongest allies and long-time partners. The two companies established the joint venture SBI Ripple Asia to lead innovation in cross-border payments, and SBI Holdings has actively contributed to expanding the ecosystem, including distributing XRP as dividends to shareholders. This close relationship likely contributed to the exaggerated rumors gaining traction in the market.
In the digital asset market, a company’s actual asset holdings are critical information that can significantly influence investment decisions. Chairman Kitao’s swift response is seen not merely as a denial of rumors but as an effort to enhance corporate transparency and prevent unnecessary market volatility. It once again underscores the importance of sharing accurate, data-based information, regardless of confidence in the future value of Ripple and XRP.
SBI Holdings plans to continue collaborating with Ripple to build a blockchain-based financial ecosystem. Even amid a market environment clouded by misinformation, the company aims to strengthen communication with investors through official channels and foster a healthy investment culture. Practical financial service innovations utilizing XRP are expected to progress steadily on the foundation of transparent information disclosure.
*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from it. The content should be interpreted for informational purposes only.*