In a twist of fate that would make even the most jaded crypto enthusiast raise an eyebrow, Ripple, that ever-ambitious blockchain juggernaut, allegedly extended an offer to purchase Circle, the issuer of USDC, for a staggering $5 billion. But lo and behold, the offer was met with a hearty rejection! Circle, it seems, was not swayed by the allure of a meager sum (yes, $5 billion is apparently “meager” in the crypto world). This deal, like so many others in the volatile world of digital currencies, fell apart faster than you can say “stablecoin.” 😅
The $5 Billion Ripple Gambit: A Missed Opportunity?
According to a highly reliable source – because we all trust Bloomberg, right? – Ripple extended an offer in the range of $4 to $5 billion to acquire Circle. But alas, Circle, with all the poise of a refined aristocrat, turned down the proposal. The reason? Apparently, the bid didn’t meet their lofty expectations. How quaint. Circle’s leadership, ever the strategic masterminds, are more focused on the shiny new toy they’ve been playing with: their IPO filing. Priorities, right? Meanwhile, Ripple is now left wondering whether to make a second attempt or simply move on to something less… ambitious. 🧐
This news comes just after Ripple decided it was time to throw a whopping $1.25 billion to acquire Hidden Road, a prime broker, earlier this month. Yes, you read that right. They’re clearly not shy about their wallet. And let’s not forget that Ripple already issues the RLUSD stablecoin, now the 12th largest by market cap. How modest. Meanwhile, USDC, the one Circle issues, is sitting pretty at number two. No biggie. 💸
Now, if Ripple had managed to get its hands on Circle, it could’ve turned the stablecoin game upside down. The RLUSD coin has recently surpassed the $300 million market cap milestone, but it’s still trailing behind the big dogs in the stablecoin arena. Can we say ‘catch up’? 😏
But wait, there’s more! Circle isn’t sitting idly by, either. They’ve launched new payment services for cross-border transactions, which conveniently places them in direct competition with Ripple, who has been offering the same services for ages. Oh, the drama of it all! 😬
Not one to shy away from controversy, Circle has been expanding its horizons beyond the borders of the United States. They’ve recently secured in-principle approval from Abu Dhabi’s financial regulators to run a money service business there. Look at them go, crossing borders like a crypto conquistador! 🌍
In the midst of all this, pro-XRP lawyer John Deaton couldn’t resist chiming in. In a fiery post on X (formerly Twitter, because why not change the name?), he pondered whether Ripple and Circle might eventually decide to throw caution to the wind and become banks. He even asked how far Brad Garlinghouse, the ever-elusive CEO of Ripple, is willing to go in his quest for crypto dominance. Will he stop at nothing? Only time will tell. 🧐💥
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2025-04-30 22:34