NewsletterCan Ripple’s Next Move Spark a Bidding War with Coinbase? John Deaton Contemplates
Highlights
- Rumors emerge that Ripple offers $20 billion to buy Circle after a $5 billion failed deal.
- John Deaton says this possible purchase could spark a Ripple-Coinbase browl.
- As Ripple is venturing into the stablecoin space, the platform may continue its efforts to buy Circle.
Ripple’s failed $5 billion Circle deal has sent shockwaves through the crypto market, with speculations emerging on the former’s potential moves. With whispers of Ripple’s $20 billion move, XRP attorney is pondering the future developments, especially considering Coinbase’s stake in Circle. Via his recent X post, Deaton sparks a debate on whether the payments platform’s next move could ignite a bidding war with Coinbase.
What Will Be Ripple’s Next Move After Circle Deal Failure?
In a shocking twist, rumors emerge that Brad Garlinghouse is exploring a $20 billion deal, just a day after Ripple’s Circle acquisition fell through. Amidst these rumors, XRP attorney John Deaton introduces an intriguing dynamic to the situation. Unveiling Coinbase’s minority stake in Circle, the XRP lawyer contemplates that Ripple’s potential acquisition of the stablecoin issuer could spark a “bidding war” with the crypto exchange.
Is Brad Garlinghouse Ready to Offer $20B for Circle Acquisition?
Recently, Ripple announced a $5 billion deal with the USDC issuer, Circle, which the latter swiftly rejected, citing concerns over the company’s valuation. Despite the initial rejection, rumors are now swirling that the firm has relaunched the deal, this time with a significantly higher offer of $20 billion.
Notably, Ripple’s recent launch of its RLUSD stablecoin that surpassed $300 million underscores the platform’s vision of expanding beyond cross-border payments. The RLUSD launch also emphasizes the firm’s venture into the stablecoin space. Thus, market commentators and experts believe that the payments firm will continue its efforts to acquire Circle.
Ripple vs. Coinbase: Will a $20B Circle Deal Spark a Brawl?
As Ripple’s alleged $20 billion bid for Circle gains traction, speculation is mounting about a possible showdown with Coinbase, a top crypto exchange. As pointed out by John Deaton, the firm’s entry into the stablecoin space and the potential purchase of one of the largest stablecoin issuers, invoke speculations of a Ripple-Coinbase war.
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