Ripple Buying Circle Could Trigger ‘Crypto Apocalypse,’ Warns Legal Expert
A potential acquisition of Circle by Ripple Labs could lead to a “crypto apocalypse,” according to MetaLeX Labs founder Gabriel Shapiro. In a recent statement, the prominent crypto lawyer raised alarm bells about the massive antitrust implications such a merger could trigger.
If Ripple — issuer of the XRP token — were to acquire Circle, the company behind USDC, it would immediately become one of the most powerful asset issuers across all major blockchains. Shapiro argues this could create unprecedented centralization, threatening competition and innovation in the crypto space.
“Making Ripple the largest asset issuer on every blockchain would obviously be disastrous and anticompetitive,” Shapiro stated, warning that U.S. regulators like the DoJ and FTC would likely step in over antitrust concerns.
He also criticized Ripple’s history of using its influence against rivals — citing its 2022 anti-Bitcoin mining campaign, co-led by Ripple co-founder Chris Larsen and Greenpeace, as an example of aggressive FUD tactics.
Circle, currently being courted by both Ripple and Coinbase, must tread carefully. Shapiro urged the company to consider the Revlon doctrine, which obligates directors to secure the best outcome for shareholders — and that includes factoring in potential regulatory pushback.
Notably, Ripple’s initial $5 billion offer was reportedly rejected for being too low. However, its large XRP reserves give it significant purchasing power, keeping it in the running.
Meanwhile, Coinbase is still seen as the frontrunner, according to Fortune, but this acquisition race is far from over.
If Ripple succeeds, it may reshape — or destabilize — the stablecoin landscape.
