Ripple is rumoured to have made billions of dollars to win the circle, causing debate amid plans for the NYSE IPO under the ticker CRCL.
Circle refuses to sell talks, but industry leaders like Chamath call the Ripple Surcal deal, which burns speculation across the XRP community, “genius.”
The crypto community bets high Ripple Circle acquisition rumor. Many XRP influencers speculate that Ripple might be trying to acquire Circle, the company behind USDC. Some XRP community members believe this move can significantly increase XRP's utility. However, these rumors doubt a lot as Circle prepares for an IPO on the New York Stock Exchange under the CRCL ticker.
Chamath: That's going to be a genius move
Venture capitalist Chamath Palihapitiya believes that Ripple or Coinbase's acquisition of circles will become “geniuses.” He said Circle's IPO is 25x oversubscribed and is valued at around $7 billion. If someone could buy it for $1.2-13 billion, it would be a steal. Chamath praised the circle for building a major Stablecoin infrastructure ahead of future US regulations like Genius Bill.
He predicted that Ripple, Coinbase, Stripe and Square would soon compete for control of Stablecoin. According to him, the company that offers the most cost-effective and efficient system will likely win.
A circle of negativity?
Bloomberg began when the first bid for Ripple's circle was rejected and Coinbase was first reported when it was said that it had made a counter offer. However, the circle firmly told the media that it was “not being sold.”
Meanwhile, Ripple CEO Brad Garlinghouse also refused to reject the $10 billion offer to Circle, but did not rule out the possibility that an acquisition consultation had occurred.
Mixed reactions from the crypto community
Crypto analyst Scott Melker agreed to Chamath, but added that Tether's position could change the game. Once Tether has been approved by regulatory authorities, it could become invincible. He said he is friendly to both the Ripple and Circle teams and hopes that both will win.
Meanwhile, XRP influencer Mickle claimed that Ripple already offered $5 billion to buy the circle, later increasing it to over $10 billion. He argued that this was more appealing than the circle's goal of raising $6 billion from the IPO. However, critics called it unfounded speculation.
Some noted that the circle's board and long-term goals might stop such transactions. Circle also officially refused to receive offers from Ripple or Coinbase, saying it is focusing on IPOs.
