The Blockchain payment company, Ripple Labs, apparently offered the acquisition of a competitive Stablecoin Provider Circle Internet Group for about 4 billion to $ 5 billion. However, this initial offer was rejected by the wheel as too low.
Circle responds to the interest in Ripple
According to Bloomberg reportRipple remains interested in Circle, but he has not yet decided whether to submit a changed offer. Circle spokesman answered inquiries regarding a potential takeover, stating: “We do not comment on market gossip.”
They added that due to the ongoing “quiet period” with the American Securities and Stock Exchange Commission (SEC), further details about their corporate financial plans will not be revealed. However, long -term Circle goals remain unchanged.
Interest in Ripple comes on the heels of the last takeover of Hidden Road, a multi -lane prime Brokerage companyfor $ 1.25 billion. This strategic move is aimed at increasing Ripple’s capabilities on the Stablecoin market, which gains traction in connection with the growing demand for digital assets that maintain stable value.
Second attempt to make the district public
Circle, known for spending USDC Stablecoin, has experienced fluctuations in market valuation. Last year, Circle was reportedly priced from 5 to 5.25 billion dollars for secondary market transactions, which is a significant drop in a valuation of $ 9 billion achieved at the beginning of 2022 during a failed attempt to make public with the facilitate of SPAC with Concord Acquisition Corp.
Recently, Circle has made a registration declaration of S-1 in SEC, because he is preparing for the long-awaited initial public offer (IPO). Reports suggest that Circle aims to achieve a valuation of $ 4 billion to $ 5 billion public offerIt is expected to be submitted by the end of April.
Although the exact IPO time remains uncertain, the companies they submitted to IPO usually start trading shares about four weeks later, although some may remain in registration for months.
This means Circle’s Second attempt to make it public. The company previously announced the plans of the SPAC connection in 2021, but regulatory problems arose when SEC did not approve the proposed contract, which leads to many extensions.
If it succeeds, IPO Circle can represent the largest public offer related to cryptocurrency, because Coinbase made public in 2021 via a direct offer. In particular, JPMorgan and Citi’s financial giants served as advisers during the IPO Coinbase process.
The current political landscape can also favor Circle’s ambitions. Last progress in Stablecoin legislation In Congress, it can be a stubborn signal for the company. The Senate Banking Committee went with the law, and the House of Representatives will soon vote for its version.
In addition, the sentiment of Pro-Crypto from President Donald Trump, who expressed the desire to sign the regulations of Stablecoin by August, suggests potential regulatory support for the industry.
At that time, related ripple token, XRP, trades $ 2.20, registering a 6% escalate in fourteen days.
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