Ripple CTO Clarifies $6 Billion Circle Offer Was Meant as a Joke
Ripple’s Chief Technology Officer, David Schwartz, has addressed recent confusion surrounding a post he made about Ripple offering $6 billion to acquire Circle, the issuer of USDC. Schwartz clarified that the statement was intended as a joke, which he later deleted out of concern that people might take it seriously.
“I meant it as a joke but deleted it because I was afraid some might take it seriously,” Schwartz explained.
The clarification comes amid widespread speculation following an April report from Bloomberg, which stated that Circle had rejected a $5 billion acquisition offer from Ripple. Additionally, Fortune reported that Coinbase was also interested in acquiring Circle, fueling further speculation.
Some rumors exaggerated the story, falsely claiming that Ripple was willing to pay as much as $20 billion for the stablecoin company. Ripple CEO Brad Garlinghouse responded to those rumors lightheartedly at a recent event, saying, “We definitely never offered $20 billion to Circle.”
Meanwhile, Circle has denied any active acquisition discussions and is moving forward with its own strategic plans. The company is set to launch its initial public offering (IPO) this week, which is reportedly over 25 times oversubscribed—an indicator of strong investor interest in stablecoin-related products.
Circle is targeting a valuation of $7.2 billion in the upcoming IPO, marking a significant milestone in the fintech and crypto sectors
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