EddieJayonCrypto
30 Apr 25
Ripple offered between $4 billion and $5 billion to acquire stablecoin issuer Circle, but Circle rejected the bid as too low. No final decision has been made on whether Ripple will submit another offer. Circle remains focused on its IPO plans and has not commented on its valuation or timing. Circle ...
Ripple proposed a $4-$5 billion acquisition offer for stablecoin issuer Circle, but the bid was rejected as too low. Circle remains committed to its initial public offering (IPO) plans, having filed registration documents earlier this year, and has not disclosed further details on valuation or timing.Circle is a key player in the stablecoin market, issuing USDC with a market capitalization of $61.7 billion. Ripple’s competing stablecoin, RLUSD, launched in December 2024, holds a significantly smaller market value of approximately $250.2 million.The rejected bid highlights a surge in mergers and acquisitions within the crypto industry, as firms seek to consolidate and prepare for public listings amid improving market conditions. Ripple’s recent $1.25 billion acquisition of brokerage infrastructure firm Hidden Road, following a legal victory against the SEC, signals its strategic push to expand crypto brokerage capabilities.The outcome of Ripple’s pursuit of Circle remains uncertain. However, this development reflects broader efforts among U.S. crypto companies to strengthen their market positions and infrastructure ahead of wider mainstream adoption of digital assets.As the stablecoin landscape evolves, Circle’s dominant role with USDC and Ripple’s ambitions with RLUSD set the stage for increased competition and potential future consolidation within the sector.