Ripple Denies $5B Acquisition Bid for Circle
Brad Garlinghouse dismisses reports that Ripple planned a $5 billion acquisition of Circle.
- Ripple CEO denies making a $5B offer to acquire Circle.
- Reports of a Ripple-Circle deal are “inaccurate,” says Garlinghouse.
- Rumors spark speculation on Ripple’s stablecoin strategy.
Ripple CEO Brad Garlinghouse has firmly denied claims that the company attempted to acquire Circle, the issuer of the USDC stablecoin. Recent reports had suggested Ripple was in talks to buy Circle in a deal that could have reached as high as $5 billion. However, Garlinghouse labeled these stories as “inaccurate” and “completely untrue.”
The rumored acquisition caught the attention of the crypto community, especially given Ripple’s recent push into stablecoins. A deal with Circle, the second-largest stablecoin issuer after Tether, would have been a significant move for Ripple. But Garlinghouse’s public denial shuts down any ongoing speculation, at least for now.
What Sparked the Rumors?
The claims originated from unnamed sources cited in industry media, alleging that Ripple had made an offer to purchase Circle. The supposed bid aimed to boost Ripple’s presence in the stablecoin market and potentially strengthen its financial products.
Some speculated that Ripple, flush with XRP reserves and fresh off legal wins against the SEC, might be ready to make bold expansion moves. However, Garlinghouse was quick to refute the claims, saying Ripple has no plans or agreements in place with Circle.
Ripple’s Real Stablecoin Strategy
While the Circle deal may be off the table, Ripple is still showing interest in stablecoins. The company recently announced plans to launch its own USD-backed stablecoin, signaling that it wants a slice of the growing market without relying on acquisitions.
The stablecoin sector is rapidly growing, and Ripple’s entry could bring more competition to players like Circle, Tether, and PayPal. For now, Ripple seems focused on building its own ecosystem rather than buying into existing projects.
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