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Ripple CEO Denies Intent to Acquire Circle, Calls Reports Untrue

Ripple CEO Denies Intent to Acquire Circle, Calls Reports Untrue

星球日报星球日报2025/06/04 00:50
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Odaily Planet Daily News Ripple CEO Brad Garlinghouse publicly stated at an event in Las Vegas that the company has never sought to acquire stablecoin issuer Circle, refuting previous media reports that Ripple had offered as much as $5 billion.


Previously, Bloomberg cited sources claiming that Ripple had made an offer of $4 billion to $5 billion to acquire USDC issuer Circle, but the offer was considered too low and was rejected. Coinbase was also reportedly in the bidding. In response, a Circle spokesperson stated, "The company is not for sale."
Circle plans to go public as early as this week under the code CRCL, with a valuation of $7.2 billion, intending to issue 32 million Class A common shares at a price range of $27-$28. Previously, the company had canceled a $9 billion SPAC merger listing plan in 2022.


It is worth noting that Ripple announced the launch of the dollar-pegged stablecoin RLUSD last April and received approval from the New York Department of Financial Services last December. Currently, RLUSD has a market value of $310 million, still far from USDC's $61.5 billion.


Ripple previously stated that future mergers and acquisitions will focus on companies connecting traditional finance with the crypto ecosystem, such as payment processors and fiat on/off-ramp service providers. In April this year, Ripple acquired the institutional settlement network Hidden Road, with a clearing scale of $3 trillion, for $1.25 billion, marking its largest acquisition until Coinbase's acquisition of Deribit surpassed it. (TheBlock)

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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