Ripple CEO Debunks $5 Billion Circle Acquisition Rumors

Ripple CEO Brad Garlinghouse has unequivocally denied reports that Ripple made a $5 billion offer to acquire stablecoin issuer Circle. This statement directly contradicts earlier media speculation that Ripple had pursued a multi-billion dollar takeover bid, which Circle reportedly rejected as too low. Garlinghouse's denial clarifies Ripple's stance amidst ongoing rumors.

Ripple CEO Dispels Acquisition Rumors

During a private event in Las Vegas on June 1, Ripple CEO Brad Garlinghouse addressed the persistent rumors regarding a potential acquisition of Circle. Speaking with Georgetown Law professor Chris Brummer, Garlinghouse stated that Ripple "never pursued an acquisition of Circle" and that the topic was not under consideration. He extended well wishes to Circle but emphasized that its business model did not align with Ripple's current strategic plans.

Key Takeaways

• Ripple CEO Brad Garlinghouse denied making a $5 billion offer to acquire Circle.

• Earlier reports on April 30 suggested Ripple had offered between $4 billion and $5 billion, which Circle allegedly rejected.

• Circle is currently preparing for an initial public offering (IPO), having filed registration documents with the US Securities and Exchange Commission (SEC) on April 1.

• Garlinghouse's statement marks the first direct rebuttal from Ripple's senior management regarding the acquisition rumors.

Broader Strategic Vision

Garlinghouse's denial comes as Ripple focuses on its own strategic initiatives. He outlined plans to position Ripple's upcoming RLUSD stablecoin as on-ledger collateral for transactions settled on the XRP Ledger. This move, alongside the recent acquisition of prime-brokerage platform Hidden Road, is part of Ripple's broader strategy to build market infrastructure that bridges traditional finance with tokenized assets.

Ripple is also actively involved in real-estate tokenization pilots in the United Arab Emirates. Garlinghouse stressed the importance of industry collaboration and avoiding public disputes that could harm the credibility of the crypto sector.

Circle's IPO Plans

Meanwhile, Circle, the issuer of the USDC stablecoin, is proceeding with its plans for an initial public offering. Reports indicate that Circle aims for a valuation of $7.5 billion through its IPO, with plans to sell 32 million shares of Class A common stock priced between $27 and $28. This decision reflects Circle's ambition to become a publicly traded company and access capital markets, rather than pursuing acquisition offers.

Sources

• Brad Garlinghouse denies Ripple’s reported $5 billion bid to acquire Circle, CryptoRank.

• Ripple Denies $5 Billion Circle Acquisition Rumors Amid IPO Plans, AInvest.

• Brad Garlinghouse denies Ripple's reported $5 billion bid to acquire Circle, CryptoSlate.

• Ripple Denies Circle Acquisition Rumors as RLUSD Gains Ground in Dubai, CryptoRank.

• Brad Garlinghouse says Ripple never made a bid to acquire Circle, contradicting recent reports, The Block.

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