New Development Regarding Ripple’s Alleged Historic Acquisition Deal: Company Issues Statement

Stablecoin issuer Circle has categorically denied reports that it was in informal talks with Coinbase and Ripple about a possible sale. The company said in a statement: “Circle is not for sale. Our long-term goals have not changed.” The report, based on a paid piece by Fortune, suggested that Circle was in talks with both Coinbase and Ripple at a valuation of at least $5 billion. However, Circle quickly denied those claims and reiterated that it was focused on the initial public offering (IPO) process, which it filed for in April. On April 30, it was reported that Ripple made a $4 billion to $5 billion acquisition offer to Circle, but the offer was rejected by Circle as “insufficient.” The report stated that Ripple is still interested in the deal but has not yet decided whether to make a new offer. Related News: JUST IN: Donald Trump Makes New Move on Cryptocurrency: This Time It’s Big Circle’s IPO plans were initially postponed until late 2022, before the company announced it was reviving plans to go public in January 2024. On April 1, it was reported that Circle had reached an agreement with investment banks for its potential IPO, but the exact date for the IPO has not been set. The recent increase in mega-acquisitions in the cryptocurrency sector has gained momentum with the coming to power of a pro-crypto White House administration and the regulatory environment in the US becoming more flexible. Ripple announced on April 8 that it has acquired multi-asset prime broker Hidden Road for $1.25 billion, making it the first crypto company to operate in this space. Coinbase said on May 9 that it plans to acquire Dubai-based derivatives crypto exchange Deribit for $2.9 billion. The company said the move aims to strengthen its position in the global derivatives market and expand its presence outside the United States. *This is not investment advice. Continue Reading: New Development Regarding Ripple’s Alleged Historic Acquisition Deal: Company Issues Statement

Source: BitcoinSistemi