Ripple's CEO, Brad Garlinghouse, denies the claim that Ripple proposed a $20 billion buyout for Circle.
Headline: Ripple Denies Gigantic Acquisition Offer for Circle: $10 to $20 Billion On the Table but Rejected
Let's talk about the recent buzz surrounding the potential merger between Ripple and Circle. Tales rose in April hinting at Ripple planning an investment in Circle, with some whispers claiming an opening offer of around $5 billion was shot down due to it being too paltry for Circle. Talks then escalated, suggesting the offer had been beefed up to a whopping $10 to $20 billion.
But uh-uh, hold up! At the XRP conference in Vegas, Ripple CEO Brad Garlinghouse clapped back, denying the juicy figures, stating, "Straight up, Ripple have never put out a $10-20 billion offer to Circle." He further clarified that their intentions never stretched to a full acquisition of Circle.
Circle echoed Garlinghouse's stance. In a statement, their spokesperson underlined that the company is firmly set on reaching its long-term goals. No sale talks between Ripple and Circle have officially been held, it seems.
In just a week or so, Circle's expected to make headlines once again as they go public through a direct listing, hawking 24 million Class A shares in the region of $24 to $26 each.
Now, while we're yapping about Garlinghouse, it's worth mentioning some other blabber he let slip about Ripple's latest acquisition, Hidden Road. Seems like Hidden Road will be slinging Ripple's stablecoin RLUSD as collateral in their investment packages, giving the RLUSD some extra cred as a cross-chain collateral asset. Insiders are saying this move indicates Ripple aiming to position the RLUSD beyond merely a stablecoin and into a potential collateral powerhouse in the digital asset scene.
Analysts like Chris Brummer see this approach as Ripple adopting an infrastructure-focused stance, willing to do what's gotta be done, even if it's not everyone's cup of tea. It's an industry-shaking move, according to Brummer, laying the groundwork for a solid foundation in the crypto world.
Lastly, Garlinghouse give us a peek into a real estate tokenization project in Dubai, where the XRPL (XRP Ledger) has been snagged up as the chosen platform for tokenizing properties for trading. Dubai Land Department, Ctrl Alt, Dubai Future Foundation, and Virtual Assets Regulatory Authority are in on the project, and Garlinghouse saw it as a practical display of tokenization in action.
Bonus Stuff:
- Remember that time Ripple actually did offer something like $4-5 billion for Circle? It got turned down because it wasn't enough green [Source 1][Source 3]. Ripple's supposedly raised the stakes, with market gossip stating Ripple floated a cool $11 billion [Source 4]. But as it turns out, the most bang for Circle's buck was a $20 billion offer, which, surprise surprise, Circle also bounced back [Source 5].
- Circle's heralded been hankering for an Initial Public Offering (IPO) instead, prepared to weather the financial storms and eyeing a valuation of at least $5 billion [Source 3][Source 5].
- Know what's not in the cards for Circle? A direct listing for their public offering. They're going the traditional IPO route instead, hoping to have their big day late in 2025 or early 2026 [Source 3][Source 5].
Although Ripple denied a $10 to $20 billion acquisition offer for Circle, they have shown a keen interest in expanding their business through technology, as evidenced by their recent acquisition of Hidden Road, which will use Ripple's stablecoin RLUSD as collateral in investment packages, thus positioning it as a potential collateral powerhouse in the digital asset scene. On the other hand, Circle, focused on finance, has expressed a preference for an Initial Public Offering (IPO) instead, aiming for a valuation of at least $5 billion, and not a direct listing as initially speculated.
