Ripple's $4B-$5B Circle Acquisition Bid Rejected Amid Crypto M&A Surge

Ripple Labs, the company behind the XRP cryptocurrency, made a significant move in the crypto industry by attempting to acquire Circle Internet Financial, the issuer of the USDC stablecoin. The acquisition bid, which was reported to be between $4 billion and $5 billion, was ultimately rejected by Circle. The news was first shared by Matthew Sigel, Head of Digital Assets Research at VanEck, and was later confirmed by sources familiar with the matter.

Ripple's interest in acquiring Circle is not surprising given the current landscape of the crypto industry. There has been a surge in mergers and acquisitions (M&A) and initial public offerings (IPOs) in the crypto space, driven by the rising prices of tokens and growing investor interest. Several companies, including Kraken, BitGo, Gemini, and Bullish, are considering going public in 2025, taking advantage of a pro-crypto, business-friendly environment under the current administration.

Circle itself had filed for an IPO with the SEC earlier this month, seeking approval to be listed on the New York Stock Exchange under the ticker ‘CRCL’. However, the company reportedly considered delaying its IPO plan due to macroeconomic uncertainties influenced by recent US trade policies. Other companies, such as Klarna and StubHub, are also pondering IPO delays.

Despite the rejection of its initial offer, Ripple is still eyeing the Circle acquisition but has not determined if it will put forward another offer. The attempted acquisition comes at a time when the crypto industry is experiencing increased activity and growth, with more companies looking to go public or be acquired. The outcome of Ripple's potential acquisition of Circle remains to be seen, but it is clear that the crypto industry is continuing to evolve and expand.