Ripples Attempt to Acquire Circle Falls Short Amid Stalled Negotiations

American cryptocurrency firm Ripple attempted to acquire Circle, the issuer of the USDC stablecoin, for $4–5 billion, according to sources cited by Bloomberg.

The deal reportedly fell through due to an insufficient bid amount. Ripple remains interested in acquiring Circle but has not yet developed any concrete plans or made new offers.

Circle declined to comment on market rumors. Sources indicate that the company will continue working on its planned IPO, which was postponed in early April for an unspecified duration due to market uncertainty.

“We are currently in a ‘quiet period’ with the SEC, so we cannot provide additional insights regarding our corporate financial plans,” stated a representative of the USDC issuer.

Previously, Circle announced its intention to launch its own payment system to compete with Visa and Mastercard.