Circle Rejects Billion-Dollar Buyout Offers from Ripple and Coinbase

TLDR

Table of Contents

Circle officially denied rumors about selling to Ripple or Coinbase, stating “Circle is not for sale”
Circle rejected a $4-5 billion takeover bid from Ripple, calling the offer insufficient
The company continues pursuing its IPO plans with SEC filing to list on NYSE under ticker “CRCL”
Ripple reportedly increased its offer to $9-11 billion but Circle maintained its independence stance
Circle and Coinbase have existing business ties through their 2018 USDC stablecoin partnership

Circle has firmly rejected acquisition offers from both Ripple and Coinbase, choosing instead to pursue its planned initial public offering. The USDC stablecoin issuer made clear statements denying all sale rumors that circulated through crypto markets.

JUST IN: 🇺🇸 USDC issuer Circle denies it had informal talks with Coinbase or Ripple regarding a potential sale, stating, “Circle is not for sale. Our long-term goals remain unchanged.” pic.twitter.com/qNnlRI9T6E
— Whale Insider (@WhaleInsider) May 26, 2025

Reports emerged last month suggesting Ripple offered $4-5 billion to acquire Circle. The stablecoin company quickly dismissed this proposal as insufficient for serious consideration. Circle’s rejection came despite Ripple’s status as a major blockchain firm with substantial financial resources.

Following Circle’s rejection, Ripple reportedly increased its offer significantly. Sources indicated the revised proposal reached between $9-11 billion, nearly doubling the original bid. Analysts noted Ripple could finance such an acquisition using both cash reserves and XRP tokens.

Coinbase also entered discussions around the same time, creating what observers called a bidding war. The crypto exchange maintains existing business relationships with Circle dating back to 2018. Both companies co-founded the Centre Consortium and launched the USDC stablecoin together.

Circle Maintains IPO Focus Despite Acquisition Interest

Circle resumed its IPO preparations in January 2024 after initially announcing public listing plans in December 2022. The company paused its original IPO timeline due to unfavorable market conditions at that time. Investment banks are now working with Circle to underwrite the eventual public offering.

The company filed its prospectus with the Securities and Exchange Commission earlier this year. Circle seeks to list shares on the New York Stock Exchange under the ticker symbol “CRCL”. The IPO process reflects Circle’s preference for independent growth over acquisition deals.

Circle’s spokesperson emphasized the company’s commitment to long-term goals through public markets. The statement specifically addressed acquisition rumors by declaring “Circle is not for sale.” This position remained consistent despite multiple offers from different suitors.

Existing Coinbase Partnership Creates Complex Dynamics

Circle and Coinbase share profits from USDC reserve management through their existing partnership agreement. Coinbase holds a minority stake in Circle and maintains influence over certain strategic decisions. Their partnership agreement includes clauses requiring approval for deals that could affect USDC revenue streams.

These contractual arrangements would theoretically give Coinbase advantages in any acquisition scenario. However, Circle maintained its independence stance regardless of existing business relationships. The company stated no acquisition discussions are currently taking place with any potential buyers.

The stablecoin market remains highly competitive as regulatory clarity improves under current administration policies. USDC currently holds approximately 28% market share while Tether’s USDT dominates with 66% of the overall stablecoin market.

Circle filed its SEC prospectus seeking NYSE listing under ticker “CRCL” while continuing to reject all acquisition offers from major crypto firms.

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