Circle has declined Ripple’s proposed acquisition offer of $4 billion to $5 billion, citing the valuation as too low based on its market capitalization and future potential. Ripple, meanwhile, is eager to expand its recently launched RLUSD stablecoin to compete with established rivals like Tether USDT in the rapidly evolving crypto landscape. Ripple has reportedly made a second attempt at acquiring Circle, but the company has yet to confirm the progress. 24-hour average trading volume for USDC, Circle’s largest stablecoin product, stands at around $6.9 billion. 30 April saw Circle file for an IPO under the ticker CRCL with the U.S. SEC to list on the NYSE. However, recent challenges such as increased partner costs, service discontinuations, and operational expenses have impacted the company’s bottom line. Ripple Labs has introduced RLUSD to streamline cross-border payments and bolster XRP adoption. Yet, it faces stiff competition from Tether USDT and other emerging stablecoin offerings like USD1 by World Liberty Financial which has already garnered a market cap exceeding $2 billion. Circle remains tight-lipped on the potential takeover bid but emphasizes its long-term vision.