Ripple’s Acquisition Offer for Circle Rejected as Deal Talks Stall

Financial news source Bloomberg reports that Ripple has made an acquisition offer to acquire stablecoin company Circle, proposing a deal worth $4 billion to $5 billion. However, Circle rejected the offer, citing it as undervaluing their firm. Though both companies engaged in discussions over recent months, Ripple has yet to decide whether to submit another proposal. 40% of this year’s XRP volume is reportedly coming from Circle, which is currently focused on its planned IPO scheduled for May.