Ripple leads the circle acquisition war, bidding between $900-1.1 billion
Circle, the issuer of USDC Stablecoin, has taken major steps IPO (IPO). However, recent reports suggest that the IPO could face uncertainty as the company conducts informal discussions on potential sales of Coinbase Global or Ripple.
Circle will sell to Coinbase “heartbeat”
according to To familiarize yourself with the sources of negotiations talking to Wealth, Circle is looking for a valuation of at least $5 billion, with the same goal as its IPO. One banker engaged in the discussion said that if Coinbase makes a real proposal, Circle might act quickly, highlighting the close relationship between the two businesses.
“If Coinbase wants to buy them, Circle will sell with a heartbeat,” the source noted. Another executive noted that this is smooth and develops every week.
Despite ongoing negotiations, Circle remains committed to its IPO plan. The company has not yet determined terms for the issuance or launch of its roadshow. It is worth noting that both Circle and Coinbase have a common history. They co-founded the Center Consortium in 2018, which is responsible for issuing USDC.
As part of their partnership, Coinbase acquired Circle’s equity at the end of 2023, and Circle has adequately governed USDC.
this Financial arrangements There is mutual benefit between Circle and Coinbase, and the two companies share revenue generated by USDC’s reserves. According to Circle’s S-1 application, the agreement stipulates that both parties receive 50% of the remaining income from the reserves.
However, when USDC was held on its platform, Coinbase retained 100% of its revenue, which may become more common as Coinbase’s earnings report suggests that the partnership increased revenue.
Experts claim Ripple has an advantage
Ripple, on the other hand, also expressed interest in acquiring Circle, which was reportedly provided interest for $4 billion to $5 billion. According to one Bitcoin, the bid was rejected as too low Report.
Any potential offer from Ripple could involve its combination of local cryptocurrencies, XRP and cash, leveraging Ripple’s massive balance sheet, including billions of dollars in value in XRP.
In contrast, Coinbase can get Using cash and stocks, it had about $8 billion in cash as of March 31, 2025. Coinbase CEO Brian Armstrong acknowledged the company’s openness to mergers and acquisitions, but emphasized the importance of successful post-purchase integration.
But, according to market expert Paul Barron, renew On this Monday’s social media site X (formerly Twitter), Ripple has an advantage in getting Stablecoin Powerhouse, with a potential price of $90 to $11 billion.
XRPOn the other hand, trading was $2.38, with trading up 14% for the month. Year to date, Altcoin outperformed the top 10 largest cryptocurrencies on the market, up 367%.
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