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American Focus > Blog > Economy > Circle that rejected Ripple’s acquisition offer has a major announcement
Economy

Circle that rejected Ripple’s acquisition offer has a major announcement

Last updated: June 2, 2025 10:55 am
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Circle that rejected Ripple’s acquisition offer has a major announcement
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New York-based stablecoin issuer Circle Internet Group, known for rejecting acquisition offers from industry giants like Ripple and Coinbase, has made a significant announcement. According to a report by Reuters on June 2, Circle has decided to upsize the size and pricing range of its upcoming initial public offering (IPO), aiming for a higher valuation of up to $7.2 billion on a fully diluted basis.

Previously, Circle had filed for an IPO on the New York Stock Exchange under the ticker symbol “CRCL.” Initially, the company was offering 24 million shares of its Class A common stock, but it has now increased that to 32 million shares in hopes of raising up to $896 million. Additionally, the IPO price range has been raised from $24-$26 a share to $27-$28 a share.

Leading Wall Street firms such as JPMorgan, Citigroup, and Goldman Sachs & Co. LLC are acting as the lead underwriters for the stock offering, further solidifying Circle’s position in the market.

Circle’s USDC stablecoin is currently the second-largest stablecoin in the market. A stablecoin is a type of cryptocurrency designed to maintain a stable value, unlike the volatile nature of traditional cryptocurrencies like Bitcoin. It is typically pegged to a fiat currency such as the U.S. dollar or a commodity like gold.

Pegged 1:1 to the USD, USDC holds nearly 25% of the total stablecoin market worth $248 billion. In comparison, even President Donald Trump-backed crypto venture World Liberty Financial has launched its stablecoin USD1, which currently holds a minimal 0.008% market share.

This latest move by Circle comes at a time of significant progress in the stablecoin industry, with the recent advancement of the stablecoin-related GENIUS Act in the Senate. The Act aims to regulate stablecoins more effectively, ensuring stability and security within the market.

See also  EXCLUSIVE: George Clooney's Political Plans Revealed – Liberal Actor Eyeing to Pick the Next President... After Receiving Major Backlash Over Pushing for Joe Biden's Election Exit

In conclusion, Circle’s decision to enhance its IPO size and pricing range reflects its confidence in the stability and growth potential of the stablecoin market. As the company continues to expand its presence, investors and stakeholders are closely watching to see how this major announcement will impact the future of Circle and the broader cryptocurrency industry.

TAGGED:AcquisitionAnnouncementCirclemajorofferrejectedRipples
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