$USDC A multi-billion dollar deal threatens the throne of stablecoins
The blockchain giant Ripple made a massive offer of $4-5 billion to acquire Circle, the issuer of the USDC stablecoin, but the surprise was the outright rejection from Circle, considering the offer "below its true value".
What does Circle's rejection of Ripple's historic offer mean for crypto investors?
1. The USDC (second globally after USDT) is the backbone of trading in the market, while Ripple recently launched its stablecoin RLUSD.
2. Ripple openly announces its intention to acquire infrastructure companies in the field (as stated by CEO Brad Garlinghouse).
3. Circle was valued at $9 billion in 2022 and is now preparing for its public offering (IPO).
Thus:
- The rejection does not mean the end of the road, as Ripple is still interested in the deal according to sources.
- The battle for dominance of stablecoins indicates radical shifts in the Web 3.0 economy.
Factđ§:
Stablecoins like USDC and RLUSD are the safety bridge between crypto and traditional currencies, and understanding their movements allows you to make smart investment decisions.
Share your opinion with us:
- Do you think USDC will maintain its position against RLUSD?
- How much do you expect Circle's true valuation to be after the public offering?
