Ripple CEO Brad Garlinghouse has categorically denied reports that his company made a $4 to $5 billion offer to acquire stablecoin issuer Circle. During an event at the Ripple Las Vegas conference, Garlinghouse stated unequivocally that Ripple never pursued any deal with Circle, further emphasizing their stance. Professor Chris Brummer, who was present at the event, shared on X (formerly Twitter) that Garlinghouse’s position was clear and decisive, stating that Ripple wished well for Circle but had no plans to acquire it. 48 hours later, Professor Brummer provided a summary of Garlinghouse’s statements on Twitter. This contradicts a Bloomberg report claiming Ripple made an offer to Circle that the company rejected for being too low, with Coinbase also reportedly making a counteroffer which was declined by Circle. Circle is soon set to go public, with a valuation of $7.2 billion and a target price of between $27 to $28 per share using the ticker CRCL. In 2022, the company ended its planned merger with a SPAC valued at $9 billion. Ripple is also developing its own stablecoin, RLUSD, which it intends to launch after receiving approval from the New York Department of Financial Services. RLUSD currently has a market cap of $310 million compared to Circle’s $61.5 billion. Brummer noted that Ripple’s strategy centers on bridging traditional finance and cryptocurrencies. This was evident in their recent purchase of Hidden Road, a credit network clearing an estimated $3 trillion annually, showcasing Ripple’s interest in real-world financial connections.