*Ripple’s $11B Bid for Circle Sparks Stablecoin Power Shift
Just as the stablecoin market was stabilizing, Ripple is shaking things up with a bold move to acquire Circle, the issuer of USDC. The deal—reportedly worth $11 billion (약 15조 원)—puts Ripple in direct competition with Coinbase and raises serious antitrust concerns.
This isn’t just another crypto acquisition. It’s a potential turning point for the stablecoin ecosystem.
* Why It Matters
If Ripple succeeds, it would instantly control the second-largest dollar-backed stablecoin. Critics argue that giving one company this much influence across multiple blockchains is dangerous. MetaLeX Labs’ Gabriel Shapiro warned that such a deal would be “disastrous and anticompetitive,” pointing to Ripple’s history of targeting rival assets like Bitcoin and Ethereum.
* XRP Leverage and Legal Limits
Ripple is reportedly using a mix of cash and XRP in its bid, tapping into its massive reserves—estimated at $94 billion. But legal restrictions around XRP liquidation could complicate the transaction, as any major sale may require court approval.
* Coinbase's Quiet Position
Coinbase, with over $8.5 billion in cash and $2.8 billion in crypto assets, remains in the race but hasn’t made a formal bid. Insiders suggest Circle may prefer Coinbase due to regulatory favor in the U.S., especially given Ripple’s controversial history.
*Investor Takeaway
Ripple’s aggressive push could centralize stablecoin control, prompting regulators like the DOJ and FTC to intervene. Expect more volatility in USDC, XRP, and broader stablecoin markets.
*Outlook
If Ripple wins: expect legal challenges and possible centralization risks.
If Coinbase steps in: a smoother deal, but likely at a higher cost.
If blocked: potential disruption in USDC’s long-term stability.
This battle could reshape stablecoin governance for years to come.
