Circle Explores Potential $5 Billion Sale to Coinbase or Ripple
Circle, the issuer of USDC, has considered selling to Coinbase or Ripple while pursuing an IPO. Key points include:
- Circle held informal discussions for a sale, targeting at least $5 billion.
- This valuation aligns with estimates from JPMorgan and Citi for its IPO.
- Coinbase owns a minority stake in Circle and shares revenue from USDC reserves.
- Ripple's offer to acquire Circle was rejected; it recently launched its stablecoin RLUSD.
- Circle stated it "is not for sale" and is focused on going public after previously aborting a SPAC merger in 2021.