Circle’s IPO: The Plot Twist Ripple Didn’t See Coming! 😱

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Well, well, well! Looks like the stablecoin rollercoaster isn’t quite the thrill ride we thought it would be. 🎢 Circle, the genius minds behind USDC, have decided to take the plunge and file for an IPO on the New York Stock Exchange. So, Ripple‘s grand $20 billion acquisition offer? Yeah, that’s looking about as likely as finding a unicorn in your backyard. 🦄

They’re throwing 24 million Class A shares into the mix—9.6 million from Circle and 14.4 million from those lovely existing shareholders. And guess what? Share prices are expected to be between $24 and $26. Trading will kick off under the oh-so-catchy ticker “CRCL”. Because who doesn’t love a good ticker? 📈

This little IPO drama unfolds just weeks after whispers of high-level talks between Ripple and Circle, with insiders claiming the deal was practically a done deal. But let’s not forget, Ripple had previously offered a measly $4–5 billion back in April, which Circle promptly tossed in the bin. 🗑️

Now, the follow-up $20 billion bid, if it had been accepted, would have been a blockbuster merger in the crypto world, giving Ripple the keys to the kingdom of the second-largest stablecoin after USDT. But alas, it seems that dream is dead. 💔

Deal dead?

Circle has officially denied any pending acquisition and is playing coy with the public. Today’s IPO filing is like a big neon sign saying, “We prefer the public markets, thank you very much!” at least for now. 🙄

For Ripple, this little hiccup could throw a wrench in their plans to expand their empire in the dollar-backed stablecoin sector. Their own stablecoin, RLUSD, just launched and is already in circulation, but it’s like a toddler trying to keep up with a marathon runner—currently sitting at a market cap of just over $310 million compared to USDC’s whopping $61.5 billion. Talk about a David and Goliath situation! 🥴

But don’t count Ripple out just yet! CEO Brad Garlinghouse is strutting around with confidence about getting an XRP-based ETF approved before the year ends. And while IPO plans aren’t the top priority, they’re still on the table. So, stay tuned, folks! 📺

As of now, neither company has bothered to drop an official update on the status of the acquisition talks. Because why not keep us all in suspense? 🙃

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2025-05-27 15:18