BlockBeats News, May 20th. According to The Block, stablecoin issuer Circle is reportedly seeking a buyer, with a valuation of at least $50 billion. The ongoing sale negotiations are said to involve its long-time partner Coinbase and Ripple, which has recently become a stablecoin competitor. The San Francisco-based startup is seeking to go public while also pursuing this acquisition.
In April of this year, Circle filed for its initial public offering (IPO), with the valuation yet to be disclosed. In the same month, Ripple, which was in the midst of a series of acquisitions, made an offer of $40 to $50 billion to acquire Circle. However, Circle rejected the offer at the time, considering it too low.
In 2022, during the depths of the cryptocurrency bear market, Circle canceled its plans to go public through a Special Purpose Acquisition Company (SPAC) merger, with the deal valued at $90 billion at the time.
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