In the face of mounting speculation around a potential acquisition, USDC issuer Circle has made its stance crystal clear: it’s not entertaining buyout offers—not from Coinbase, not from Ripple, and not from anyone else. Despite industry whispers and reported multibillion-dollar offers, the company is firmly focused on its future as a publicly listed entity on the New York Stock Exchange.
Ripple’s Reported $5B Bid? Not Enough, Says Circle
Recent reports suggested that Ripple, the blockchain firm behind XRP, made an aggressive move to acquire Circle with a takeover bid estimated between $4 billion and $5 billion. However, sources close to the matter say Circle quickly rejected the proposal, citing it as undervaluing the company’s position and long-term potential. The stablecoin firm appears to have no interest in letting go of its independence just as the US regulatory landscape begins to tilt in its favor.
Though Ripple hasn’t entirely ruled out revisiting the offer with improved terms, Circle has made it abundantly clear where it stands. A company spokesperson addressed the rumors directly, stating, “Circle is not for sale. Our long-term goals remain the same.”
This public declaration puts an end—for now—to the swirling rumors of a strategic acquisition aimed at dominating the fast-expanding stablecoin sector.
Full Steam Ahead Toward IPO
Rather than entering into M&A talks, Circle has its sights set on Wall Street. The company filed for a U.S. Initial Public Offering (IPO) earlier this year, submitting its prospectus to the U.S. Securities and Exchange Commission (SEC). If all goes as planned, Circle will trade under the ticker symbol “CRCL” on the NYSE later in 2025.
The timing is notable. With the Trump administration back in office and signaling a friendlier stance toward crypto innovation, regulatory clarity is starting to emerge—especially in the stablecoin arena. This environment is creating new opportunities for U.S.-based digital asset firms like Circle to thrive and scale within regulatory frameworks, rather than avoid them.
GENIUS Act Fuels Stablecoin Market Race
A significant driver behind the recent surge of interest in stablecoin issuers is the pending legislation known as the GENIUS Act—a proposed law aimed at regulating the issuance and management of stablecoins in the United States. With this bill edging closer to becoming law, traditional financial institutions and crypto-native companies alike are scrambling to carve out their share of the stablecoin pie.
Currently, Tether (USDT) leads the market with a commanding 66% share, but Circle’s USDC follows with a significant 28%. And it’s not just about numbers—USDC has carved out a reputation for transparency and compliance, which could become increasingly valuable under the new legal landscape.
Ripple, for its part, recently launched its own stablecoin, RLUSD, which is already available on Gemini and has amassed a market cap north of $310 million. Acquiring Circle would have given Ripple or Coinbase a fast track to leapfrogging competitors. But for now, that door remains firmly shut.
Circle’s Focus: Independence and Growth
In an industry often rocked by acquisitions, collapses, and dramatic shifts, Circle’s commitment to independence stands out. The company isn’t just chasing valuations—it’s betting on its ability to build long-term value as a publicly traded entity. With plans for an IPO underway and the stablecoin market heating up, Circle appears more determined than ever to remain in control of its own destiny.
As the race to dominate the U.S. stablecoin market intensifies, Circle’s message is loud and clear: it’s not cashing out—it’s gearing up.
