Well, well, well, Ripple’s at it again, trying to make a power move in the stablecoin game, but guess what? Circle told them, “Thanks, but no thanks!” 😬 Apparently, Ripple’s offer of $4 billion to $5 billion for acquiring the second-largest stablecoin issuer didn’t even make a dent. It’s like when you try to buy a coffee shop with a coupon and they look at you like you just asked for their firstborn. Not happening.
Meanwhile, Ripple’s own stablecoin launch was all sparkles and rainbows at first, but now it’s more like a soggy unicorn. Market cap is sitting at just under $320 million. Not exactly a stablecoin kingpin. But hey, dreams are free! 🎈
Circle’s “Hard Pass”
Reports say that Circle shut down Ripple’s offer faster than you can say “blockchain.” Ripple thought somewhere between $4 billion and $5 billion would be enough to buy them out, but Circle was like, “Nope, that’s cute, but we need more.” According to insiders, Ripple is not planning to sweeten the deal. I guess they thought they could just waltz in with a pocketful of billions and buy their way into dominance. Classic Ripple move.
But hey, Ripple’s not all bad news. They did manage to snatch up Hidden Road, a prime brokerage company, for $1.2 billion earlier this year. Apparently, this is supposed to be some massive win, setting up XRP and the XRPLedger for post-trade settlement action. We’ll see if that ends up being a game-changer or just another notch on the ol’ crypto belt.
In case you missed it, Ripple’s legal drama with the SEC is over—finally. After a never-ending battle, both sides decided to call it quits. Brad Garlinghouse took a victory lap in March, announcing that they weren’t appealing anymore. Not sure who needed a nap more—the SEC or Ripple. 😴
RLUSD: Ripple’s New Stablecoin… Or Is It? 🤔
So, while Circle’s rejecting Ripple’s offers, Ripple’s got its own stablecoin, RLUSD. It started off strong after getting that sweet regulatory approval in the US. They even saw a 50% jump in market cap, going from $200 million to $300 million in a matter of days. But, surprise surprise, the hype train came to a screeching halt after that. The market cap’s been sluggish, adding less than $20 million in weeks. At least they’re not totally losing, right? Maybe? 😂
But here’s the twist: even though the market cap is taking its sweet time, trading volumes on centralized exchanges (CEX) have surged by 30% in just the past day. So, while RLUSD may not be the next big thing, it’s still keeping things interesting.
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2025-05-01 08:55