Ripple Denies Acquisition Rumors; CEO Garlinghouse Confirms No Deal with Circle

Ripple has officially denied recent reports suggesting a potential acquisition of Circle, the issuer of USDC stablecoin. Ripple CEO Brad Garlinghouse confirmed this denial during a conference session, stating that he was not pursuing an acquisition of the company. Professor Chris Bummer, who spoke with Mr. Garlinghouse at the event, shared these remarks. 💰 Ripple’s recent offer of $5 billion to acquire Circle was rejected, but rumors about both Ripple and Coinbase’s interest in acquiring Circle have been circulating for weeks. This denial comes as Circle prepares for its IPO this week, boasting a boosted valuation of $7.2 billion under the ticker CRCL.