Ripple's acquisition of Circle fails!
Ripple planned to acquire the stablecoin issuer Circle for $4 billion to $5 billion, but Circle rejected the offer, deeming it too low. This event took place less than a month after Circle applied for an initial public offering (IPO) in the United States, with specific IPO dates and price ranges yet to be disclosed.
The timing of Circle's rejection comes right before its planned listing, indicating its desire to attract a broader range of investors on U.S. exchanges. Meanwhile, Ripple is striving to expand its blockchain payment business, and its intent to acquire Circle is part of its growth strategy. How Ripple will respond to this rejection in the future remains to be seen.
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