Blockchain giant Ripple has reportedly escalated its pursuit of Circle, the issuer of the $61.7 billion USDC stablecoin, with a revised $20 billion acquisition offer, quadrupling its initial rejected bid of $5 billion.
According to an April 30 Bloomberg report, Ripple initially offered $4–5 billion to acquire Circle, a proposal swiftly dismissed as undervaluing the USDC issuer. However, days later, social media erupted with claims that Ripple CEO Brad Garlinghouse had returned with a $20 billion bid. Crypto influencer “Crypto Barbie” sparked a frenzy by tweeting, ‘Ripple hasn’t backed down. The $20B deal is moving toward completion.’
Despite neither company publicly addressing the $20B figure, rumors continue circulating rampantly.
Why Ripple Chose USDC’s Circle
Despite launching RLUSD in December 2024, Ripple’s stablecoin has struggled, with a market cap of just $317 million compared to USDC’s $61.7 billion. Acquiring Circle, the second-largest stablecoin globally, trailing only Tether’s USDT, would deliver instant scale in a sector critical to cross-border payments—Ripple’s core focus.
The bid follows Circle’s preparation for an April confidential U.S. IPO filing. A takeover could derail those plans, but Circle has remained silent, citing SEC quiet period rules.
Shift in Regulatory Clarity
In a historic case filed in 2020, the SEC withdrew its appeal against Ripple in March 2025 after the company agreed to a $50 million settlement. This came after high-profile discussions between President Donald Trump, known for his pro-crypto stance, Garlinghouse, and the legal team for Ripple. Ripple also donated $5 million to Trump’s 2025 inaugural fund, further cementing ties to the White House.
A Circle merger could amplify USDC’s reach but risk diluting its reputation as a neutral, reserve-backed stablecoin. For Ripple, success would mark a shift from blockchain services to becoming a central player in the digital dollar ecosystem.
Despite the social media buzz, neither company has verified the $20B offer. The reports are speculative, driven by leaks and influencer chatter.
READ MORE: Chainlink Price Hidden Catalyst: $150 Trillion SWIFT Opportunity
