Breaking: Circle Rejected Ripple Takeover Bid of $4-5B

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Ripple News Today_ CEO Brad Garlinghouse Teases Big Updates at XRPL Apex 2025

The post Breaking: Circle Rejected Ripple Takeover Bid of $4-5B appeared first on Coinpedia Fintech News

  • Circle ostensibly turned down the offer since it was too low based on its market value and prospects.
  • Ripple is keen to expand its recently launched RLUSD to compete with Tether USDT among others.

Ripple Labs proposed to takeover Circle Internet Group Inc. for $4 billion to $5 billion. According to people familiar with the matter, Circle, the second largest stablecoin issuer, turned down the offer and termed it as too low. 

Meanwhile, Ripple has not yet made another move but remains interested in acquiring Circle. Moreover, Circle’s USDC has penetrated global web3 markets to hit a market cap of about $61.6 billion and a 24 hour average trading volume of about $6.9 billion.

“We do not comment on market rumors. As we are currently in a quiet period with the U.S. SEC, we cannot comment further on our corporate financial plans. Our long-term goals remain the same,” Circle’s spokesperson told Bloomberg.

Top Reasons Why Ripple Eyes Circle

Circle’s market complexities 

Earlier in April, Circle filed for an initial public offering (IPO) with the U.S. SEC, with the aim of listing on NYSE under ticker CRCL. While Circle’s revenue grew by 16 percent to $1.7 billion YoY, the company’s net income and EBITDA fell sharply.

The company has attributed the decline in net income to increased partner costs, service discontinuation, in addition to operational expenses. For instance, the company has reported an increase in distribution and transaction costs from higher fees on its partners led by Coinbase Global. 

Future growth prospects for RLUSD

Ripple Labs recently launched RLUSD to help streamline its cross-border payments system, which includes backing up XRP adoption. However, the company has faced intense competition from existing stablecoins led by Tether USDT.

Additionally, RLUSD has experienced significant competition from similar products, such as USD1(USD1)by Donald Trump-backed World Liberty Financial that has already surpassed $2 billion in market cap.

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Solana Co-founder Calls Trump’s Bitcoin Order ‘A Scalpel’, Here’s Why

Solana Co-founder Calls Trump's Bitcoin Order 'A Scalpel', Here's Why

Solana co-founder Anatoly Yakovenko offered a balance evaluation of Donald Trump’s Executive Order (EO) on the strategic Bitcoin reserve. In a recent statement, Yakovenko likened the Bitcoin reserve to a “scalpel,” suggesting that the move marks a significant step towards regulatory clarity.

Notably, the Solana founder’s statement underscores the administration’s targeted and precise regulatory framework for digital assets. Let’s unveil how Anatoly Yakovenko views Trump’s Bitcoin reserve strategy.

Donald Trump’s Bitcoin EO is a Scalpel, Says Solana Co-Founder

Donald Trump’s recent executive order for a strategic crypto reserve has invoked widespread enthusiasm. Despite some disagreements with the inclusion of altcoins like XRP, SOL, and ADA, the crypto community stands strong with the Bitcoin order. In a recent X post, Solana co-founder Anatoly Yakovenko addressed the Bitcoin reserve plan as a scalpel. This suggests that the EO’s regulatory approach is characterized by precision and specificity, rather than overly restrictive measures.

Significantly, the Solana co-founder’s message highlight the nuances of crypto regulatory landscape and the need for clarity. Yakovenko emphasized that the Bitcoin order will pave the way for more regulatory clarity in the US. He added, “We need a stablecoin bill, guidance to let banks deposit and withdraw crypto, clear rules from the sec and cftc for issuance and defi.”

Solana Co-Founder Opposes Crypto Reserve Proposal

Despite his recent endorsement, the Solana co-founder criticized Donald Trump’s crypto reserve proposal. His criticisms were based on the idea that the government control could undermine the notion of decentralization.

Recently, Yakovenko outlined his preferences regarding a US reserve of cryptocurrencies, with his top choice being no reserve at all. His second preference was to allow individual states to oversee their own reserves. This approach, he believes, would provide a safeguard against potential missteps by the Federal Reserve.

In addition to Yakovenko’s opposition, controversy arose when Cardano founder Charles Hoskinson revealed that he had not been invited to the Crypto Summit, where discussions on the reserve were slated to take place.

How Will Donald Trump’s Crypto Reserve Reshape Financial Space?

According to Robert Kiyosaki, the author of “Rich Dad Poor Dad,” Bitcoin could heal America’s financial woes. With Trump’s decision to adopt a Bitcoin reserve, the cryptocurrency is poised to reach new all-time highs, stated Kiyosaki.

However, Trump’s crypto policies could be a threat to Wall Street. Primarily due to the possible growth of stablecoins, which in turn boosts Silicon Valley’s establishment, the traditional financial ecosystem could collapse. Thus Trump’s pro-crypto stance signals the potential downfall of Wall Street.

The post Solana Co-founder Calls Trump’s Bitcoin Order ‘A Scalpel’, Here’s Why appeared first on CoinGape.

Here’s How Shiba Inu Slashes 1.31 Billion SHIB From Supply

Shiba Inu has marked a major milestone as its community-driven burn initiative reaches an all-time total of 1.31 billion SHIB, as highlighted by Shibizens on X. This figure represents the cumulative effort of holders since the start of the burn movement, not just a single-day event. Community-Driven Shiba Inu Burns Gain Momentum Unlike traditional token

The post Here’s How Shiba Inu Slashes 1.31 Billion SHIB From Supply appeared first on CoinGape.

XRP, ADA and Altcoins Rally As New SEC Chair Paul Atkins Promises ‘Principled Approach’

Is-Paul-Atkins-What-Crypto-Needs-Now

The post XRP, ADA and Altcoins Rally As New SEC Chair Paul Atkins Promises ‘Principled Approach’ appeared first on Coinpedia Fintech News

The crypto community has long awaited a pro-crypto era in the U.S., hoping for clearer regulations and support for innovation. Half of that vision began to take shape when Trump took office, promising to make the U.S. the crypto capital of the world. Now, the other half is falling into place as Paul Atkins is officially sworn in as SEC Chair.

“The Perfect Person”

President Trump was beside the newly-sworn in SEC Chair as he took office and promised to make the SEC’s approach to regulating digital assets more sensible and fair. Trump introduced Atkins as the “perfect person” to lead the SEC, during the swearing-in ceremony. Trump was also hopeful that Atkins would put an end to the SEC’s misuse of power and unfair enforcement action under Biden’s administration.

He called ‘digital asset regulation’ to be a top priority of his and he would provide a solid regulatory foundation, as he resumes his role. 

“A top priority in my chairmanship will be to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach,” he said. 

He also ensured that he would make the US the most safest and supportive country in the world, to smoothly carry on crypto operations an activities and keep politics out of securities regulations. 

Industry Experts’ Faith In Atkins

Several crypto advocates have voiced their support and belief in Atkins as the industry gears up for a major shift from an enforcement-focused approach to a regulatory clarity and guidance-driven framework.

“SEC Chairman Paul Atkins will be good for Bitcoin,” said Michael Saylor, the CEO of Strategy (formerly Microstrategy).

SteelWave Digital’s Founder, Mitchell DiRaimondo, summed it up perfectly saying “Atkins brings the clarity we need right now.” “Bitcoin finally has an ally in the SEC. Let the bull run begin,” commented the FIO Protocol. 

The SEC has been making steady progress under Acting Chair Mark Uyeda. A Virtual Currency Task Force, led by Commissioner Hester Peirce, was created in January to reshape virtual currency regulation. It has already held two roundtables discussing key issues. The third meeting scheduled on April 25th, will focus on crypto custody.

The post XRP, ADA and Altcoins Rally As New SEC Chair Paul Atkins Promises ‘Principled Approach’ appeared first on Coinpedia Fintech News
The crypto community has long awaited a pro-crypto era in the U.S., hoping for clearer regulations and support for innovation. Half of that vision began to take shape when Trump took office, promising to make the U.S. the crypto capital of the world. Now, the other half is falling into place as Paul Atkins is …