加密專家說，Circle可能錯過了Ripple的提議

（中心廣場） - 加密公司Ripple最近提供了大筆資金，以購買以發行USDC Stablecoin而聞名的公司。

A crypto expert says that a merger between Ripple and Circle would have diversified the two companies’ revenue streams.

一位加密專家說，Ripple和Circle之間的合併將使兩家公司的收入流分散。

After nearly two years of rumors, Ripple’s interest in acquiring Circle was ultimately rejected and seen as too low.

經過近兩年的謠言，Ripple對收購Circle的興趣最終被拒絕，並認為太低了。

The crypto behemoths had discussed a merger for several months, converging after a tumultuous period for the crypto industry.

加密龐然大物已經討論了幾個月的合併，在加密貨幣行業的動盪時期匯聚。

Best known for its XRP token, Ripple had offered around $4 billion to $5 billion for Circle Internet Group Inc., a company best recognized for issuing the USDC stablecoin.

Ripple以其XRP代幣而聞名，為Circle Internet Group Inc.提供了約40億至50億美元的$ 50億美元，這是一家以發行USDC Stablecoin的認可的公司。

But the proposal was ultimately rejected by Circle executives, who set the price at closer to $6 billion, and the talks broke down, multiple sources told Bloomberg.

但是，多個消息人士告訴彭博社，但該提議最終被Circle高管拒絕，後者將價格定為接近60億美元，而談判破裂了。

The offers and valuations could not be immediately confirmed by either company.

任何公司都無法立即確認報價和估值。

However, two people familiar with the matter said that the price difference ultimately proved insurmountable, despite months of negotiations.

但是，兩個熟悉此事的人說，儘管進行了數月的談判，但價格差異最終被證明是無法克服的。

The merger would have consolidated two prominent stablecoin companies and brought together two of the leading crypto firms in the United States.

合併將鞏固兩家著名的Stablecoin公司，並將兩家領先的加密公司匯總在一起。

Both companies are exploring routes to go public, with Circle having to cancel a merger with a blank-check firm last year due to difficulties in securing a suitable valuation.

兩家公司都在探索公開的路線，由於難以確保合適的估值，Circle去年不得不取消與空白檢查公司的合併。

Meanwhile, Ripple has been considering an Initial Public Offering (IPO) in the second half of this year.

同時，Ripple在今年下半年一直在考慮首次公開募股（IPO）。

A merger would have sped up the process for both firms.

合併將加快兩家公司的流程。

The fact that the talks broke down despite months of discussions and close proximity in valuation surprised some crypto experts.

儘管進行了數月的討論和估值的近距離，這一事實破裂了，這使一些加密專家感到驚訝。

Some argued that Circle may regret its decision.

有人認為圈子可能會後悔其決定。

“Considering the current state of the crypto market, it seems like a no-brainer for Circle to accept Ripple’s offer,” said crypto analyst Ali Aoun.

加密分析師Ali Aoun說：“考慮到加密市場的當前狀態，Circle接受Ripple的提議似乎很容易。”

“With a valuation of $4 billion to $5 billion, it’s a steal for a company of Circle’s stature. It’s no wonder the offer was rejected out of hand.”

“以40億美元至50億美元的估值，這對Circle的身材高昂而言是一次搶斷。難怪該報價被拒絕了。”

Aoun added that Ripple has been aggressively launching its own stablecoin (RLUSD) and wants to become a serious competitor to Circle’s USDC and Tether’s USDT, potentially hurting both their market shares; these stablecoins are cryptocurrencies with values pegged to the United States dollar.

Aoun補充說，Ripple一直在積極推出自己的Stablecoin（RLUSD），並希望成為Circle USDC和Tether的USDT的認真競爭對手，並有可能損害他們的市場份額；這些穩定的是加密貨幣，其價值與美國美元掛鉤。

“Had Ripple acquired Circle, it would have owned the world’s second-largest stablecoin,” he said.

他說：“如果Ripple收購了Circle，它將擁有世界第二大的Stablecoin。”

Moreover, a merger between Ripple and Circle would have diversified the two companies’ revenue streams.

此外，Ripple和Circle之間的合併將使兩家公司的收入流分散。

“The combination of Ripple’s global payments network and liquidity with USDC’s vast user base and recognized brand would have created a formidable force in the future of finance,” said former Amazon and IBM executive Sandy Carter.

前亞馬遜和IBM執行官桑迪·卡特（Sandy Carter）表示：“ Ripple的全球支付網絡和流動性與USDC龐大的用戶群和公認的品牌的結合將在財務的未來創造強大的力量。”

Carter noted that Ripple could have introduced USDC stablecoin to foreign markets, vastly expanding its reach.

卡特指出，Ripple本可以將USDC Stablecoin引入國外市場，從而極大地擴大了其影響力。

“Its network reaches far beyond U.S. borders, with strong relationships across Asia, Latin America, and Europe,” she said. “Ripple says that 90% of the company’s business is conducted outside the United States. That kind of reach could’ve propelled USDC into markets where stablecoin adoption is still in its infancy but growing fast.”

她說：“它的網絡遠遠超出了美國邊界，在亞洲，拉丁美洲和歐洲之間建立了牢固的關係。” “ Ripple說公司90％的業務是在美國境外進行的。這種覆蓋範圍可能會將USDC推向了Stablecoin採用率仍處於起步階段但迅速增長的市場。”

She added that the rejection indicates Circle has confidence in its product and thinks it can build the digital infrastructure necessary to increase its global market share.

她補充說，拒絕表明Circle對其產品有信心，並認為它可以建立增加其全球市場份額所需的數字基礎設施。

“For leaders in fintech, digital assets, and global payments, the lesson is clear: market share alone doesn’t win the future,” she said. “It’s about ecosystem reach, interoperability, and trust. Circle is betting that those three pillars will serve it better independently. Ripple is betting it can build or acquire its way to the same destination, faster.”

她說：“對於金融科技，數字資產和全球付款的領導者，這一課程很明確：僅市場份額就不會贏得未來。” “這是關於生態系統覆蓋範圍，互操作性和信任的。Circle押注這三個支柱將獨立地為其提供更好的服務。Ripple押注它可以建立或獲得到達同一目的地的方式，更快。”

Tech policy expert Roslyn Layton said the two sides could have made a good team, especially as Circle has struggled to have an Initial Public Offering.

科技政策專家羅斯林·萊頓（Roslyn Layton）表示，雙方本來可以組成一支優秀的團隊，尤其是當Circle努力進行首次公開​​募股時。

“Acceleration happens in bear markets, and innovation turns to conquest in the rebound,” she said. “The window is closing. @Circle is hitting IPO headwinds and @Ripple has cash, infrastructure and legal clarity.”

她說：“加速發生在熊市中，創新轉向征服反彈。” “窗戶正在關閉。@circle遇到了IPO逆風，@Ripple具有現金，基礎設施和法律清晰度。”

This year, Circle is amid its second attempt to go public. It tried to in 2022 but had a $9 billion merger deal collapse that would have allowed it to happen.

今年，Circle是第二次公開嘗試。它試圖在2022年嘗試，但合併交易崩潰了，這本來可以實現的。

Amid ongoing stock market volatility, other cryptocurrency companies are delaying their plans to go public, The Wall Street Journal reports.

《華爾街日報》報導，在持續的股市波動中，其他加密貨幣公司正在推遲其公開計劃。