Fortune has reported that cryptocurrency exchange Coinbase is interested in acquiring USDC stablecoin issuer Circle with a $5 billion pricetag, following Bloomberg’s April report that Ripple had made a $4-$5 billion bid that was rejected. Circle published its prospectus to list its stock on April 1, the day before President Trump announced comprehensive tariffs that shocked markets. This marks Circle’s second attempt to go public after abandoning a SPAC merger in 2022 following the collapse of FTX.
“If Coinbase wanted to buy them, Circle would sell in a heartbeat,” Fortune quoted an unnamed banker as saying. Circle responded to the magazine stating it was pursuing its IPO.
Meanwhile, Coinbase CEO Brian Armstrong recently told Bloomberg that Circle’s IPO wouldn’t affect its revenue sharing deal, discussing any future potential acquisition by saying, “in terms of other deals we might consider in the future, I mean, that, of course, would be up to them and us, but, you know, nothing to announce today.”
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