Ripple CEO clarifies: has never sought to acquire Circle, recent reports are false.

Gate News bot message, according to the conversation between Georgetown University law professor Chris Brummer and Ripple CEO Brad Garlinghouse, Ripple has never sought an acquisition of Circle. Garlinghouse dismissed recent media reports that Ripple had offered $4 billion to $5 billion to acquire Circle.

"Brad was very clear - Ripple has never sought an acquisition of Circle. While he wishes the company well, he is not currently considering an acquisition of Circle," Brummer posted on X on Tuesday, quoting his conversation "48 hours ago" at the Ripple Las Vegas conference. This conversation was not initially broadcast publicly.

Bloomberg was the first to report that Ripple had made an acquisition offer to Circle, but it was rejected due to the low bid. However, a representative from Circle stated that the company has clearly indicated that it is "not seeking to sell."

Circle's IPO is set to launch as early as this week, with a recent valuation soaring to $7.2 billion, and the stock ticker is CRCL. The company will issue 32 million shares of Class A common stock at a price of $27 to $28 per share. In 2022, the company canceled a planned SPAC merger that would have allowed it to go public at a $9 billion valuation.

According to Brummer, Ripple's vision is a world where cryptocurrency and traditional finance are "blended"—with tokenized assets, stablecoins, and traditional financial institutions coexisting and interconnecting.

Brummer stated that Ripple is making significant acquisitions after a year-long lawsuit with the U.S. Securities and Exchange Commission has ended. If the company aims for more acquisitions, its targets will be those companies connected to the real world, such as "fiat on-ramp platforms and payment processors."

Source: The Block