Cardano Founder Says Ripple’s Bid for Circle Could Change Crypto

Charles Hoskinson, the founder of Cardano, recently shared his thoughts in a video about a possible deal between Ripple Labs and Circle, a USDC stablecoin issuer. He believes Ripple Labs’ attempt to buy Circle could help make the crypto industry more open and fair, especially for smaller projects. This could reduce the power of a few large companies that currently control key parts of the market. Ripple and Coinbase Compete for Circle Ripple and Coinbase are both bidding to buy Circle , the company behind the USDC stablecoin. USDC is one of the most used stablecoins in the crypto market. Reportedly, both companies are willing to spend billions of dollars. Ripple is ahead in the race. A few weeks ago, the fintech company reportedly offered Circle $4 to $5 billion, but that offer was rejected. Later, there were talks that Ripple increased the offer to $20 billion, although this has not been confirmed. Notably, there has been no official news on the deal details because May 26 is a public holiday in the U.S. Many, including angel investor Paul Barron, believe Ripple will win the deal and become the new owner of USDC. This could change a lot in the stablecoin space. Cardano Supports Ripple in the Deal Hoskinson raised concerns about the growing control of a few large companies in the crypto industry. He said firms like Coinbase, now facing a new class action lawsuit , along with Circle and a16z, have built a system that mainly serves their interests. He said that growing a project outside of their group can be very difficult. Smaller projects may struggle to get listed on exchanges, gain access to stablecoins, or find enough trading support. He believes this is holding the crypto space back and making it difficult for new ideas to succeed. Furthermore, he supports Ripple in this deal. He believes Ripple would be a better leader for the stablecoin market and could help bring more fairness to the crypto world. Possible Partnership Between Ripple and Cardano Ripple and Cardano have always shown interest in working together. In late 2024, both CEOs spoke kindly of each other. Soon after, Hoskinson said Cardano might support Ripple’s stablecoin. Cardano is already in talks with Ripple to add its stablecoin, RLUSD, now live on Aave , to the Cardano blockchain. Hoskinson said his team is willing to do the work for free because they support Ripple’s community. In April, Ripple released a video about the future of tokenization, which briefly showed the Cardano logo. This led to more talk about a possible partnership, but nothing official has been confirmed. The post Cardano Founder Says Ripple’s Bid for Circle Could Change Crypto appeared first on TheCoinrise.com .

Source: The Coin Rise