Circle has rejected Ripple’s $4-$5 billion takeover bid, citing it as too low. Ripple is still interested but hasn’t confirmed a follow-up offer. Circle is focused on its IPO amid regulatory challenges, while Ripple’s recent acquisition of Hidden Road showcases its growth strategy in a maturing crypto landscape.
Circle Internet Group has turned down a takeover bid from Ripple, stating that the $4 to $5 billion offer simply wasn’t adequate. While Ripple is still contemplating its options, the company has not yet confirmed whether it will make another bid. As of now, Circle is concentrating on its upcoming initial public offering (IPO). This information was shared by Bloomberg Tax on April 30, based on sources who preferred to remain anonymous.
In response to enquiries about the bid, a Circle spokesperson stated, “We do not comment on market rumors. We are currently in a quiet period with the SEC, and we cannot further elaborate on our corporate financial plans. Our long-term goals remain consistent.” On the other hand, Ripple did not provide an immediate comment when reached by PYMNTS.
Ripple recently made headlines when it acquired prime brokerage, Hidden Road, for $1.25 billion, marking a trailblazing move as the first cryptocurrency firm to manage a multi-asset prime broker. The acquisition has been touted as one of the largest transactions in the digital asset domain. CEO Brad Garlinghouse emphasised that this comes at a pivotal moment for the digital asset market, particularly as the U.S. landscape appears more welcoming with decreasing regulatory pressure following the former SEC administration.
Garlinghouse pointed out that new opportunities are arising to drive transformation in the crypto sector, leveraging the advantages presented by XRP, to boost Ripple’s services and technology. This acquisition is part of a larger trend wherein U.S. crypto companies have engaged in a notable flurry of mergers and acquisitions, valued collectively at about $8.2 billion.
Recent reports indicate that there have been 88 crypto deals, worth around $8.2 billion, since the beginning of 2025. This volume marks a significant increase compared to last year, with this year’s activity nearly tripling the total value from 188 deals throughout 2024, per insights from advisory firm Architect Partners.
On Circle’s end, the company has been on track for its IPO following a period of regulatory scrutiny that hampered its earlier public listing ambitions. However, reports as of April 4 suggested that Circle, along with other tech firms, was maintaining a watchful eye on market conditions before making any definitive moves. The prevailing uncertainties in the stock market, exacerbated by new U.S. tariffs, are causing pause for potential public offerings.
