Ripple Doubles Its Bid to $11B to Acquire Circle — But Coinbase Wants In Too!
The crypto world is abuzz with rumors that are hard to ignore. Ripple has reportedly increased its offer to acquire Circle, the company behind the USDC stablecoin, from $5 billion to an impressive $11 billion.
Although neither company has officially confirmed the news, the potential deal is raising major questions: Is Ripple making a strategic masterstroke, or is this a sign of desperation?
Why Is Ripple Pursuing Circle?
Last month, Ripple is said to have made a $4–5 billion offer for Circle, which was declined. Now, with increasing competition—particularly from Coinbase, which may also be preparing an acquisition bid—Ripple appears to have doubled down with a revised offer totaling $11 billion.
If confirmed, this would mark one of the most significant acquisition attempts in the crypto space since the FTX collapse.
A key motivator behind Ripple’s interest is Circle’s USDC, a regulated stablecoin with a market capitalization of $61 billion, positioning it as a prime asset within the digital asset ecosystem.
Adding to the momentum is a favorable regulatory climate in the U.S. under the Trump administration, which is notably hosting a Crypto Dinner for the top 220 holders of the TRUMP meme coin.
Ripple’s Financial Strength
According to Ripple’s Q1 2025 Markets Report, the company holds a substantial amount of XRP—approximately 4.56 billion XRP valued at $10.72 billion. It also controls an additional 37.13 billion XRP in escrow, worth approximately $87.25 billion. These reserves give Ripple significant financial leverage to pursue high-stakes acquisitions.
Angel investor Paul Barron is among those who believe Ripple has the advantage over Coinbase. He recently stated that Ripple may be positioning its bid between $9 billion and $11 billion to stay ahead in the race.
BREAKING: @Ripple and @coinbase now in bidding war for @circle – Sources say @ripple has the upper hand at a 9–11 Billion price tag. #XRP #USDC #CRYPTO
— PaulBarron (@paulbarron) May 19, 2025
Coinbase’s Strategic Interest
Coinbase is not staying on the sidelines. With $8 billion in cash reported in Q1 2025, Coinbase has the financial capacity to challenge Ripple. As a public company, it also has the advantage of being able to raise additional capital through equity markets.
This financial flexibility means Coinbase could put forward a competitive offer using a mix of cash and stock.
Is Circle Open to Acquisition?
This is where things become less clear. Circle has not confirmed any interest in being acquired. On the contrary, it has consistently communicated a long-term vision, including plans for a public IPO. With strong backing from institutions like JPMorgan and Citi, Circle is in a position to be selective or even dismissive in negotiations.
It’s possible Circle is considering offers to boost its valuation or gain strategic insights from its competitors.