- Ripple CEO Brad Garlinghouse confirmed no acquisition of Circle was ever considered, dismissing widespread industry speculation.
- CTO David Schwartz clarified that his $6 billion comment on Circle was a deleted joke, not a serious indication of negotiations.
- Despite high market interest, Circle stated it is not for sale, and Ripple denied all reports of any deal or formal offer.
Ripple executives have officially denied speculation regarding a potential acquisition of Circle, the issuer of the USDC stablecoin. At the Bitcoin Conference in Las Vegas, Ripple CEO Brad Garlinghouse stated the company had never pursued any such deal. He emphasized that the acquisition of Circle was not part of Ripple’s strategic focus.
Ripple’s Chief Technology Officer, David Schwartz, made things clearer to the many people discussing it. On the social media site X, Schwartz explained that bringing up a $6 billion offer for Circle was just a funny remark. He let people know that he quickly deleted the post since it was being taken the wrong way. He made it clear that high-level talks or proposals did not happen.
Enthusiasm about stablecoins makes people make predictions.
Reports from before stated that Ripple was offered almost $5 billion for acquisition. Some believed that Circle refused the offer since it felt the acquisition price was low. Still, neither Ripple nor Circle has acknowledged or validated these speculations. He made clear that Ripple did not take part in any negotiation and said no discussions like that were ever on the table for Ripple.
During the conference, Garlinghouse specifically denied any rumors about a $20 billion offer. While he acknowledged hearing speculation around various figures, he maintained that Ripple had not initiated any acquisition discussions with Circle. Despite this, some observers at the event speculated whether Ripple had ever floated a different offer. Garlinghouse maintained that no form of acquisition was in the company’s plans.
In the background, interest in Circle remains high. Billionaire investor Chamath Palihapitiya called Circle a strategic acquisition opportunity for firms like Ripple and Coinbase, valuing the company at $12 to $13 billion. Nevertheless, both Ripple and Circle insist that no acquisition talks are underway. Circle reiterated its position, stating it is not for sale.
