Ripple CEO Brad Garlinghouse has stated that the company is not exploring a potential acquisition of Circle, a major stablecoin issuer.
Rumors of Circle Acquisition
Recent reports suggested that Ripple made an offer of $4 to $5 billion to acquire Circle. These rumors stemmed from a Bloomberg report that indicated Ripple's bid was rejected as too low.
Garlinghouse's Comments
During an event in Las Vegas, Garlinghouse made it clear: "Ripple never pursued an acquisition of Circle. I wish the company well, but it wasn't something I was considering." These comments were shared by Georgetown Law professor Chris Brummer.
Market Reaction to Rumors
The rumors of a potential acquisition sparked mixed reactions among experts. Cardano co-founder Charles Hoskinson noted that a successful deal could 'improve the space,' while MetaLeX Labs founder Gabriel Shapiro warned it could lead to a potential 'crypto apocalypse.'
In summary, Garlinghouse confirmed that Ripple is not planning to acquire Circle, providing some reassurance to the market amidst speculation about possible deals.
