Financial powerhouse Circle is exploring strategic acquisitions, weighing potential offers from Coinbase or Ripple in a bid to unlock liquidity and stability. The company’s ambition for an IPO faces headwinds due to market uncertainty, prompting it to consider alternative routes to growth. Sources close to the matter reveal that Circle has initiated informal talks with both firms, aiming for a valuation of $5 billion as part of this potential deal. While Ripple made an initial offer within this range, Circle rejected it due to pricing concerns and lack of favorable structure, according to reports from Bloomberg. A source familiar with the discussions shared with the publication that Ripple sees Circle as a valuable asset to complement its expanding enterprise crypto services. However, unless Ripple proposes an all-cash offer matching Circle’s $5 billion floor, any deal is unlikely. For Coinbase, despite lacking confirmed negotiations, CEO Brian Armstrong has expressed openness to strategic acquisitions, suggesting they are well positioned to make a move. This reflects a growing emphasis within the company on partnerships and innovation across digital asset markets.