Ripple CEO Denies $10 Billion Circle Acquisition Offer

Ripple CEO Brad Garlinghouse has denied reports of a $10 billion bid to acquire Circle, emphasizing Ripple’s stablecoin strategy.

The denial shifts Ripple’s focus toward developing the RLUSD stablecoin, avoiding significant market disruptions and maintaining current financial strategies.

Ripple Dismisses Reports of $10 Billion Circle Buyout

Ripple CEO Brad Garlinghouse has denied reports about a potential buyout of Circle, stating Ripple “never offered” $10 billion. His firm is concentrating on its RLUSD stablecoin strategy.

Garlinghouse’s denial came during the XRP Las Vegas conference, clearly addressing rumors without any institutional support. Circle remains focused on its upcoming IPO, targeting a $7.2 billion valuation.

Ripple’s RLUSD Focus Unaffected by Market Rumors

The rumor denial averted any tangible shifts in XRP and USDC markets. Ripple’s commitment to RLUSD suggests a strategic pivot toward the stablecoin sector without major disruptions.

No regulatory authorities weighed in on the rumor. Ripple’s and Circle’s respective focuses indicate ongoing compliance with U.S. financial standards and strategic growth without market upheaval.

Stablecoin Strategy Key Amid Ripple Acquisition Speculation

Previous crypto buyout rumors, like FTX and BlockFi, have led to temporary market volatility. Ripple’s unequivocal denial has maintained market stability for both XRP and Circle’s USDC.

The emphasis on RLUSD suggests Ripple aims to be a significant player in the stablecoin arena, potentially impacting the sector’s competitive dynamics based on market history and current trends.

Garlinghouse’s Assurance and Future Outlook

Brad Garlinghouse, CEO, Ripple, unequivocally denied reports stating, “Ripple never offered $10–$20 billion to acquire Circle”: source

Garlinghouse’s assurance emphasizes the strategic focus on RLUSD, aiming for growth in line with market demands and regulatory conditions.