Ah, Ripple, that ever-enthralling force in the crypto world, has once again found its way into the headlines. Apparently, the company has decided to raise its offer to acquire Circle, the issuer of USDC, to a staggering $20 billion — or so sources would have us believe. Initially, it was rumored that Ripple was ready to fork out a mere $4 billion to $5 billion. But, lo and behold, Circle turned down that pitiful sum. Now, with an almost theatrical flair, Ripple has supposedly upped the ante to $20 billion. No official word yet, but who’s counting, right?
Enter John Deaton, the ever-persistent lawyer of the Pro-XRP persuasion, who has something to say about it all. According to him, Circle took the rather bold step of filing its S-1 registration with the SEC on April 1, 2025 — yes, that’s right, April Fools’ Day — with plans to go public on the New York Stock Exchange (NYSE) under the rather unassuming ticker symbol “CRCL.” The IPO is expected this summer, and JPMorgan Chase and Citigroup have already signed on as the lead underwriters. Oh, how thrilling!
Circle filed its S-1 with the SEC on April 1, 2025, planning to list on the NYSE under the ticker “CRCL,” with JPMorgan Chase and Citigroup as lead underwriters. The IPO is expected this summer. Circle is aiming for a valuation between $4 billion and $5 billion for its IPO.…
— John E Deaton (@JohnEDeaton1) May 2, 2025
Now, Circle’s little valuation conundrum seems to mirror Ripple’s initial offer. Both are flirting with a $4 billion to $5 billion price tag, which is almost adorable. However, let’s not forget the $9 billion Circle was aiming for during a rather disastrous SPAC merger attempt back in 2022. Remember that? Oh, how the mighty have fallen.
But wait, there’s more — according to Deaton, Circle probably snubbed the $5 billion offer because it’s anticipating something bigger and better after its IPO. Maybe $9 billion or more? Why settle for less when you can dream of being a multi-billion-dollar unicorn, right? And let’s not forget that crypto is on the upswing with pro-crypto policies taking root and the potential passing of the STABLE GENIUS Act. Could a $10B+ deal be on the horizon? A man can dream.
But here’s where things get spicy: Deaton raises a rather delicious little nugget of intrigue. What if Ripple’s relationship with Coinbase, which already holds a minority stake in Circle, throws a wrench in the works? Could this lead to a dramatic bidding war? The plot thickens, as they say.
As of now, however, both Ripple and Circle are keeping their lips sealed tighter than the lid on a jar of pickles. No confirmation of any talks, no juicy insider info, just speculation. Ah, the thrill of the unknown!
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2025-05-02 18:24