What Will Be Ripple's Next Move After Circle Deal Failure?

Ripple's failed $5 billion Circle deal has sent shockwaves through the crypto market, with speculations emerging on the former's potential moves.

A report by U.S. news outlet The Star on Wednesday claims that Brad Garlinghouse is planning a $20 billion move to buy out Circle, just a day after the company rejected a previous bid.

However, Garlinghouse’s plans may be met with an obstacle, as noted byXRPlawyer John E. Deaton. In a recent X post, Deaton highlighted that crypto exchange Coinbase holds a minority stake in Circle.

According to a previous report by Bloomberg in March, a "small sliver" of Circle is owned by Coinbase. The two firms previously partnered to launch an integration that allows users to buy, sell, and hold various cryptocurrencies.

Earlier this week, rumors emerged that Garlinghouse is preparing a $20 billion bid to acquire the U.S.D.C. issuer. This development comes after Circle rejected a $5 billion takeover bid from the crypto payments platform on Tuesday.

The news outlet furthered that the San Francisco-based firm is planning to launch a new bid for the Boston-based firm, showcasing the crypto firm’s strong interest in expanding its presence in the stablecoin market.

Earlier this month, Ripple launched its own dollar-pegged stablecoin, known as R.L.U.S.D, marking the firm’s foray into the fast-growing stablecoin market.

As part of its broader strategy, Ripple has been actively seeking opportunities to expand beyond its core cross-border payments offering.

According to a report by Bloomberg in March, a "small sliver" of Circle is owned by Coinbase. The two firms previously partnered to launch an integration that allows users to buy, sell, and hold various cryptocurrencies.

Earlier this year, rumors sparked that Garlinghouse is planning a $20 billion move to buy out Circle, just a day after the company rejected a previous bid.

However, Garlinghouse’s plans may be met with an obstacle, as noted byXRPlawyer John E. Deaton. In a recent X post, Deaton highlighted that crypto exchange Coinbase (NASDAQ:COIN) holds a minority stake in Circle.

suggest that the crypto exchange giant could be interested in bidding for Circle.

Recently, Circle rejected a $5 billion takeover bid from Ripple, which values the stablecoin issuer at an astronomical $50 billion.

However, Garlinghouse is reportedly planning to make a new bid of $20 billion for the Boston-based firm, showcasing the crypto firm’s strong interest in expanding its presence in the stablecoin market.

Earlier this month, Ripple launched its own dollar-pegged stablecoin, known as R.L.U.S.D, marking the firm’s foray into the fast-growing stablecoin market.

As part of its broader strategy, Ripple has been actively seeking opportunities to expand beyond its core cross-border payments offering.