Offer for $5 Billion Acquisition from Ripple Allegedly Turned Down by Circle
Looks like there was a buzz on the street that Ripple aimed to snatch up Circle, a significant player in the stablecoin game. They reportedly threw a cool five bil' at 'em, but ol' Circle ain't bitin'. Word is, they weren't pleased with the price tag and still got their sights set on an IPO.
Reports suggesting Ripple's offer was a match for Circle's planned IPO equity valuation of $4-6 billion, so it seems they were in the ballpark. Now, with their IPO on hold due to Trump's tariff fiasco, one might speculate they'll be open to acquisition offers in the future. Mind you, Circle's financials have been a hot topic among analysts.
On a related note, Ripple's seen some expansion lately with their purchase of the prime brokerage platform Hidden Road for a whopping $1.25 billion. They've also jumped into the stablecoin game with RLUSD, a competing asset to Circle's USDC. RLUSD's market cap's been steady at $318 mil and it's made some notable partnerships, like with Cardano and Chainlink.
Ripple's eyeing a dominant position in the US market as the SEC lawsuit approaches its end and they're looking to go big. If they could snag Circle's stablecoin expertise and market share, it'd be a hell of a business boost. But for now, we don't know if they'll shake hands on a deal or if other companies plan to make higher offers.
Don't take this as gospel, though. Remember to fact-check and consult with a pro before making decisions based on this info. We at BeInCrypto strive for unbiased, transparent reporting, and we hate seeing you get burned. We update our Terms, Privacy Policy, and Disclaimers regularly to keep it real.
P.S. We hear dYdX, TonTrader, Arkham, BingX, and HTX are also making waves, so maybe give 'em a look-see too!
- Ripple initially attempted to acquire Circle, a prominent player in the stablecoin market, offering them $5 billion, but the offer was not accepted.
- Reports suggest that Ripple's offer was comparable to Circle's projected IPO equity value of $4-6 billion.
- As Circle's IPO is currently on hold due to trade disputes, there is speculation that they may consider acquisition offers in the future.
- Ripple recently made an acquisition of Hidden Road, a prime brokerage platform, for $1.25 billion and entered the stablecoin market with RLUSD, a competitor to Circle's USDC.
- RLUSD has a market cap of $318 million and has formed partnerships with notable companies like Cardano and Chainlink.
- As Ripple aims for dominance in the US market, acquiring Circle's stablecoin expertise and market share could potentially provide a significant business boost, although no deals have been confirmed.
