Ever since Circle reportedly refused a $5 billion deal from Ripple for acquisition, posts on social media have been going viral, claiming that Ripple has made a fresh $20 billion bid to acquire the company, which is behind USD Coin (USDC).
X (formerly Twitter) user “Crypto Barbie” posted that Ripple CEO Brad Garlinghouse hasn’t backed down and has now raised the offer to $20 billion. She added, “The deal is likely moving forward toward completion.”
Ripple fans have been speculating about the supposed $20 billion move as part of Ripple’s aggressive expansion strategy in the U.S., with some speculating that slow adoption of it’s own stablecoin, RLUSD, may be driving the push. Pro-crypto lawyer Bill Morgan hinted that Ripple’s RLUSD project could have been a stepping stone toward buying Circle.
Another prominent crypto voice, Crypto Eri, said the deal isn’t just about money. “Ripple buying Circle is not for the financials. It curbs competition: it controls USDC, dominates the stablecoin market, sidelines smaller rivals, and takes over Circle’s Payment Network, she posted. “How much is that worth? A lot.”
However, upon research, it has been found that neither Circle nor Ripple has issued any official statement regarding the acquisition move. At best, the viral posts on social media are speculations about a possible acquisition. The claims that Ripple has offered $20 billion to Circle is not true.
Also Read: 5 Reasons Why Circle Rejected $5 Billion Offer from Ripple
