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Circle, the company that issues the stablecoin USDC, refuted recent rumors that it is in informal talks to acquire Coinbase or Ripple. In a statement published on X by Whale Insider, the business stated that “Circle is not for sale.”.

 

“Our long-term objectives are still the same.” This explanation follows a surge of conjecture on social media and in cryptocurrency circles about Circle’s possible acquisition.

Circle’s statement clearly rejected these rumors. Expanding the use and acceptance of USDC across multiple platforms and regulatory jurisdictions is part of the company’s current roadmap.

The company clearly stated its current operational and strategic independence by rejecting informal or other discussions without any conditions. Coinbase and Ripple had not publicly responded to Circle’s denial or the allegations at the time of this report. It’s still there.

Kate Young Ju, an alternate X account for Ki Young Ju, the creator of the on-chain analytical platform CryptoQuant, recently clarified the conversation in a post addressing SUCH topics.

“XRP seems like a group of capital market experts. It has its shortcomings, but its movement is unquestionably sharp,” according to the pseudonymous account.

Speaking about the rumors involving Ripple and Circle, the analyst stated that the payment giant would be a strategic move if Ripple were to acquire the stablecoin issuer. Circle initiated “informal talks” with Coinbase and Ripple regarding the potential acquisition agreement.

Circle aims for a sales valuation of at least $5 billion, which aligns with its initial public offering (IPO) target.

The analyst highlighted that major players anticipating Circle’s IPO may support XRP in the future, driven by the high demand for stablecoins from the cryptocurrency and traditional markets. There is a rumor that Ripple might consider acquiring Circle. If this is true, it could be a strategic move.

“Investors who wait for Circle’s IPO might choose to purchase XRP instead, as many are eager to invest in the future of stablecoins.” He added.