Big moves are happening in the crypto world again! Ripple and Coinbase are both eyeing a major prize: Circle, the company behind USDC – one of the biggest stablecoins out there. The rumored price? A jaw-dropping $11 billion! 💰
But not everyone’s excited… in fact, some think this could be bad news for crypto.
Why This Deal Matters So Much ❓
If Ripple wins, it could take control of a huge chunk of the stablecoin world. That would make them super powerful – maybe too powerful.
Gabriel Shapiro, founder of MetaLeX Labs, says this move could be “disastrous” for crypto and warns of unfair competition.
“If Ripple becomes the biggest issuer on every blockchain, it’s a serious problem,” Shapiro said. Antitrust regulators (like the DoJ and FTC) might step in to block the deal.
He also reminded everyone about Ripple’s past attempts to weaken rivals like Bitcoin – for example, when Ripple’s co-founder teamed up with Greenpeace in 2022 to go after BTC mining. 🪓
Bidding War Heats Up! 🔥
Earlier this year, Ripple reportedly offered $4–$5 billion for Circle – but was rejected. Now they’re back with a bigger bid, possibly mixing cash + XRP to sweeten the deal.
Ripple holds nearly $94B in assets, including $40B in XRP – but here’s the twist: they can’t just sell those XRP tokens without court approval. ⚖️
Meanwhile, Coinbase has a strong balance sheet too, with over $8.5B in cash and $2.8B in crypto. But so far… no offer. Why? Still a mystery. 🕵️
Who Will Win? Or Will a New Player Enter? 🎭
Some insiders say if Coinbase wants Circle, the deal could happen fast. U.S. regulators might also be friendlier to Coinbase than Ripple.
But wait… there’s more. Other players, like Japan’s SBI Holdings (a big XRP backer), could jump in and change the game.
What’s Next?
Ripple’s move could reshape the stablecoin market overnight. But if critics like Shapiro are right, we might see big legal battles ahead.
Will this be a game-changing win for crypto, or a regulatory disaster? Only time will tell! ⏳
