The crypto industry is louder than a swarm of bees in a busted hive. Circle, the big shot behind the USDC stablecoin, just threw cold water on some hot rumors, as they’re not for sale.
Nope, no matter what Ripple or Coinbase might be whispering behind closed doors, Circle’s sticking to its guns and aiming straight for the IPO spotlight. But oh, the plot thickens.
The $11 billion move
Ripple, with a stash of XRP tokens worth tens of billions, initially made an offer to buy Circle for $4 to $5 billion. Circle?
They laughed it off, too low, pal. Now, Ripple’s apparently doubled down, upping the ante to a pretty nice $11 billion, mixing cash and XRP like a high-stakes cocktail.
This a full-on crypto showdown for control of Circle’s $61 billion stablecoin empire.
Ripple’s got the muscle, no doubt. With over $10 billion in XRP on hand and nearly $90 billion locked in escrow, they’re flexing financial biceps that would make most jealous.
But here’s the cold shower, Circle’s not budging.
“We’re not for sale. Our long-term goals? Still the same.”
Coinbase?
Now, don’t count Coinbase out of this drama. These two have history, because they co-created USDC, share revenue streams, and Coinbase even owns a slice of Circle.
When USDC funds sit on Coinbase’s platform, they rake in 100% of the earnings.
Plus, Coinbase holds veto power over Circle’s new partnerships and even partial rights to its intellectual property if things go south.
Sounds like a cozy setup, right? Many insiders see Coinbase as the natural buyer, if Circle ever decides to sell.
IPO or acquisition? The waiting game
Circle’s got its eyes on the prize, an IPO that could value them at $5 billion or more.
They filed paperwork in April 2025, hired the big investment banks, and are ready to take the public plunge, but timing still up in the air.
Remember, they shelved a previous IPO plan back in December 2022 because the market wasn’t playing nice.
But with eToro’s recent IPO smashing expectations, jumping 29% on day one, maybe Circle’s feeling the heat to make their move soon.
Cardano’s Charles Hoskinson chimed in, calling out the “Coinbase-A16Z-Circle mafia,” accusing them of running a tight ship that keeps outsiders out of the stablecoin game.
He reckons Ripple crashing this party could shake things up, break monopolies, and open doors for fresh faces in crypto.
If Ripple’s $11 billion bid is a power move, it’s also a challenge to the status quo.
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