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Ripple is signing for Chelsea Office

According to therealdeal.com Ripple is opening an office in Chelsea.

The San Francisco-based company signed for an almost 7000-square-foot lease at the Kaufman Organization and Goldman Sachs Asset Management’s 155 West 23rd Street.

“At its peak in early January, All XRP coins in circulation were worth almost $300 billion. The price crashed in recent weeks, reportedly costing co-founder Chris Larsen $44 billion on paper by Wednesday.

Over the past two days the currency rallied by around 50 percent, to $1.547 as of Friday afternoon. The firm’s investors include Google Ventures, Seagate, Standard Chartered, CME Ventures, Accenture and Andreessen Horowitz.

Cushman & Wakefield’s Sebastian Infante brokered the lease. Asking rents were in the $60s per square foot and Ripple is expected to move in this quarter.

Kaufman bought the leasehold on the 12-story, 71,000-square-foot building, which is part of the former Ring portfolio, from Extell Development in 2015. The new owners spent $10 million on a gut renovation.”

The value of XRP cryptocurrency was at its peak in the month of January and was valued at $300 billion however, it faced some crash in the last few weeks leading to a huge cost of $44 billion to its co-founder Chris Larsen by that of Wednesday.

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