
Ripple CTO Dismisses $6 Billion Circle Offer as a Joke, Sparking Crypto Industry Buzz
Ripple CTO David Schwartz has clarified that his social media post about Ripple offering $6 billion to Circle was just a joke[...]
Ripple CTO Clarifies $6 Billion Circle Acquisition Rumor as a Joke
David Schwartz, Ripple's Chief Technology Officer, has clarified that his social media post about Ripple offering $6 billion to acquire Circle was meant as a joke. Schwartz explained he intended the remark humorously but later deleted it over concerns some might misinterpret it as serious.
This follows reports in late April from Bloomberg that Circle had rejected a $5 billion acquisition offer from Ripple. Fortune also reported Coinbase was competing with Ripple in the potential acquisition.
The speculation around these acquisition talks has led to unverified rumors, including claims Ripple was willing to pay up to $20 billion for the USDC issuer. Ripple CEO Brad Garlinghouse has firmly denied these claims, stating, "We definitely never offered $20 billion to Circle."
With Circle preparing for its IPO this week, acquisition discussions appear to have ended. The fintech company's public offering is reportedly over 25 times oversubscribed, reflecting strong market interest in stablecoin products. Circle is currently targeting a $7.2 billion valuation.