Ripple's CEO attacks Senator Lummis after canceling talks, with a $5 billion acquisition of Circle looming

As Ripple continues to pressure lawmakers to complete its potential acquisition, the connection between political influence and institutional approach remains a key focus for the future of stablecoins.

Key points:

Garlinghouse's criticism of Senator Lummis comes at a time when Ripple is seeking to expand its influence in Washington after making an offer ranging between $4 and $5 billion to acquire Circle, the issuer of the USDC stablecoin.

Circle rejected Ripple's offer, but its talks with both Ripple and Coinbase are still ongoing, while it aims to go public to achieve a valuation equivalent to $5 billion.

Coinbase is considered a stronger candidate for acquiring Circle given its stake in it and its control over key aspects of the USDC infrastructure.

Ripple Labs CEO Brad Garlinghouse criticized U.S. Senator Cynthia Lummis last Monday after she canceled her scheduled meeting with them and refused to set a later date, adding excitement to the political developments in Washington, as the company is vigorously pursuing the acquisition of Circle, the issuer of the USDC (USD Coin-USDC) stablecoin.