Ripple CEO Addresses Acquisition Speculation: Insights into the Future of Crypto

Ripple CEO Clears the Air on Circle Acquisition Rumors

In a recent event held in Las Vegas, Ripple CEO Brad Garlinghouse set the record straight, clarifying that the enterprise blockchain company was never pursuing the acquisition of USDC issuer Circle.

The statement comes after weeks of speculation surrounding Circle's future. In late April, Bloomberg reported that the crypto-focused fintech firm had rejected a $5 billion offer from Ripple, as it was considered too low. Later, Fortune reported that both Ripple and US exchange giant Coinbase were engaged in informal talks about acquiring Circle.

However, the company behind the second-largest stablecoin moved to shut down these rumors in late May, stating that it was not for sale.

On Monday, Reuters reported that Circle is targeting a $7.2 billion valuation with its upcoming initial public offering (IPO).