Circle Sets The Record Straight: No Talks Of Sale To Coinbase Or Ripple
The post Circle Sets The Record Straight: No Talks Of Sale To Coinbase Or Ripple appeared on BitcoinEthereumNews.com. Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Circle, the issuer of the USDC stablecoin, has firmly denied reports suggesting it is engaged in informal discussions regarding a potential sale to either US-based crypto exchange Coinbase or blockchain payment company Ripple. This denial comes in light of a report from PYMNTS, which highlighted that Circle remains focused on its initial public offering (IPO), initially filed in April. Circle Focuses On IPO Despite Ongoing Acquisition Interest A spokesperson for Circle stated to the news outlet, “Circle is not for sale. Our long-term goals remain the same.” This statement follows claims made by Seeking Alpha, which referenced a paywalled article from Fortune indicating that Circle was seeking a valuation of at least $5 billion in its negotiations with Coinbase and Ripple as well as in its upcoming IPO. Earlier reports had indicated that Circle rejected a takeover bid from Ripple, which ranged between $4 billion and $5 billion, citing the offer as too low. While Ripple has expressed ongoing interest in acquiring Circle, it has not made a decision regarding a new offer, as Circle continues to pursue its IPO. Circle’s IPO plans have seen a resurgence after a previous delay in December 2022. The company announced on April 1, 2024, that it had engaged investment banks to underwrite the IPO, although the exact timing for the public offering has yet to be determined. The renewed interest in public offerings within the cryptocurrency sector is partly attributed to a wave of digital asset megadeals propelled by a crypto-friendly administration under President Donald Trump and a more relaxed regulatory environment in the US. Ripple, Coinbase, Pursue Major Growth Strategies In recent weeks, Ripple made headlines by acquiring prime brokerage Hidden Road for $1.25 billion, a move that positions…
The post Circle Sets The Record Straight: No Talks Of Sale To Coinbase Or Ripple appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Circle, the issuer of the USDC stablecoin, has firmly denied reports suggesting it is engaged in informal discussions regarding a potential sale to either US-based crypto exchange Coinbase or blockchain payment company Ripple. This denial comes in light of a report from PYMNTS, which highlighted that Circle remains focused on its initial public offering (IPO), initially filed in April. Circle Focuses On IPO Despite Ongoing Acquisition Interest A spokesperson for Circle stated to the news outlet, “Circle is not for sale. Our long-term goals remain the same.” This statement follows claims made by Seeking Alpha, which referenced a paywalled article from Fortune indicating that Circle was seeking a valuation of at least $5 billion in its negotiations with Coinbase and Ripple as well as in its upcoming IPO. Earlier reports had indicated that Circle rejected a takeover bid from Ripple, which ranged between $4 billion and $5 billion, citing the offer as too low. While Ripple has expressed ongoing interest in acquiring Circle, it has not made a decision regarding a new offer, as Circle continues to pursue its IPO. Circle’s IPO plans have seen a resurgence after a previous delay in December 2022. The company announced on April 1, 2024, that it had engaged investment banks to underwrite the IPO, although the exact timing for the public offering has yet to be determined. The renewed interest in public offerings within the cryptocurrency sector is partly attributed to a wave of digital asset megadeals propelled by a crypto-friendly administration under President Donald Trump and a more relaxed regulatory environment in the US. Ripple, Coinbase, Pursue Major Growth Strategies In recent weeks, Ripple made headlines by acquiring prime brokerage Hidden Road for $1.25 billion, a move that positions…
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