RIPPLE MULTI-BILLION BID TO PURCHASE CIRCLE REJECTED — Report

Blockchain payments firm Ripple has reportedly bid up to $5 billion in an effort to acquire stablecoin issuer Circle, but the offer was rejected.

According to an April 30 Bloomberg report, Ripple put in a bid of $4 billion to $5 billion as part of an attempted takeover of Circle, which was rejected as being too low. Ripple hasn’t considered whether to make another bid to purchase the stablecoin issuer.

The reported acquisition attempt came less than 30 days after Circle applied for an initial public offering (IPO) in the US. Old Sport reached out to representatives of Circle and Ripple for comment, but had not received a response from either at the time of publication. #RippleUpdate #StablecoinPayments $XRP $USDC