Financial Update: Circle Acquisition Offer by Ripple Valued at $5 Billion. Insights Enclosed.
Check Out the Latest from Google News: Ripple's $5 Billion Acquisition Proposal for Circle!
It's juicy gossip around town that Ripple, the SF-based blockchain babe, has tossed a hefty $4-5 billion offer to Circle, their main stablecoin rival. But, did Circle swallow this massive deal? Nah, they turned it down, apparently thinking it was a lowball offer, according to the Wednesday Bloomberg report.
But don't think Ripple's given up on their appetite for a rival takeover. They're still eager, just wavering about making another offer, claims Bloomberg. Meanwhile, Circle's focusing on their Initial Public Offering (IPO) in the US, making a point to brush off "market rumors."
Ripple's Prez Monica Long recently spilled the beans, stating that the company's not keen on going public[1]. Instead, they're in an acquiring mood, and earlier this month, they splashed over a billion on crypto firm Hidden Road, a record-breaking crypto deal.
Now, how about that? Circle's been in the massive acquisition game before[2]. Back in 2018, they scooped up Poloniex for $400 million, only to see a whopping $156 billion vanish with that deal. So, Circle's USDC, valued at $62 billion (second-biggest stablecoin, seventh-biggest crypto overall), isn't an easy nut to crack, evidently.
And Circle's not the only USDC player. Last year, Ripple joined the stablecoin craze, launching the Ripple USD (RLUSD), whose market cap surpassed $300 million.
So, will Ripple snap up Circle and conquer the stablecoin realm? Stay tuned to find out!
#Ripple vs Circle | #Stablecoin Showdown | #IPO Battle | #Crypto Acquisition | #RLUSD
[1] - Ripple Isn't Interested in Going Public, Says Top Lawyer[2] - Circle Sheds Poloniex Amidst Restructuring: What Does This Mean for Crypto Traders?
- The offer from Ripple, valued between $4-5 billion, was reportedly extended to Circle, their main stablecoin rival.
- Despite this, Circle turned down the proposed acquisition, apparently seeing it as a lowball offer, according to recent reports.
- Ripple is still keen on acquiring competitors, having recently purchased a crypto firm, Hidden Road, for over a billion dollars.
- Circle, which holds the second-biggest stablecoin market Cap with USDC valued at $62 billion, was previously involved in a massive acquisition, having bought Poloniex for $400 million in 2018.
- Ripple also entered the stablecoin market last year, launching the Ripple USD (RLUSD), whose market cap surpassed $300 million.
- With both companies actively involved in the stablecoin and cryptocurrency finance business, the race for domination continues, making for an exciting showdown in the world of technology and business.
