Ripple大膽地收購Circle的報價及其USDC Stablecoin已正式下降

Ripple大膽的50億美元要收購Circle（USDC的發行人）正式陷入困境 - 現在，加密貨幣世界正在猜測。

Despite reports of a $5 billion bid from Ripple to acquire Circle, the issuer of USDC, the deal has now officially fallen through.

儘管有報導說從Ripple出價為50億美元以獲取Circle，這是USDC的發行人，但該交易現已正式下跌。

While the move could have instantly positioned Ripple at the forefront of the stablecoin sector, it seems Circle wasn’t satisfied with the offer and saw no reason to accept it.

儘管此舉可能會立即將波紋定位在Stablecoin部門的最前沿，但似乎圈子對要約並不滿意，也沒有理由接受它。

According to insiders at Jungle Inc, the main part of the offer was in illiquid Ripple shares, which may not have appealed to Circle as it prepares for an IPO.

根據Jungle Inc的內部人士的說法，該要約的主要部分是在流動性的Ripple股票中，在為IPO做準備時，這可能沒有吸引Circle。

Here’s a closer look at why the deal fell through and what it means for both crypto giants.

這是一個更仔細的觀察，為什麼交易跌入了為什麼對兩個加密巨頭意味著什麼。

1. Illiquid Ripple Equity Offer

1。流動性不足的波紋權益優惠

Insiders reveal that Circle wasn’t satisfied with Ripple’s offer and declined it, considering the valuation insufficient.

內部人士透露，考慮到估值不足，Circle對Ripple的報價並不滿意，並拒絕了。

According to Jungle Inc, Ripple likely didn’t offer the full amount in cash. Instead, a significant portion of the $5 billion bid may have come in Ripple equity, shares that are currently private, illiquid, and hard to value.

根據Jungle Inc的說法，Ripple可能沒有提供全額現金。取而代之的是，在50億美元的出價中，很大一部分可能是在波紋權益中，目前是私人，流動性且難以珍視的股票。

For a company like Circle, already preparing for an IPO, trading its future for equity with uncertain market value wasn’t appealing.

對於像Circle這樣的公司，已經為IPO做準備，將其未來換成不確定市場價值的股權並不吸引人。

Although Ripple hasn’t followed up with a new bid, it’s still eyeing a possible deal.

儘管Ripple尚未跟進新的出價，但仍在關注可能的交易。

2. Ripple’s Competing Stablecoin

2。 Ripple的競爭性穩定

Announced earlier in July, Ripple is launching its own stablecoin, RLUSD, which will run on both the XRP Ledger and Ethereum.

Ripple於7月初宣布，將推出自己的Stablecoin Rlusd，該股份公司將在XRP Ledger和Ethereum上運行。

As crypto analyst Stellar Rippler pointed out, this would make Circle a direct competitor, which begs the question of why they’d merge in the first place.

正如加密分析師Stellar Rippler指出的那樣，這將使Circle成為直接的競爭對手，這就提出了為什麼他們首先合併的問題。

Circle may have seen the move as a play to quickly neutralize USDC and wasn’t ready to give up its lead in regulatory adoption and market trust. Especially as USDC is a fully-reserved, regulated stablecoin, meaning acquiring it would skip the slow adoption phase for RLUSD and instantly grant liquidity.

Circle可能將這一舉動視為快速中和USDC的戲劇，並且還沒有準備好放棄其在監管領養和市場信任方面的領導。特別是因為USDC是一個保留完整的監管穩定劑，這意味著獲取它將跳過RLUSD緩慢的採用階段，並立即獲得流動性。

3. Circle’s Strong Pre-IPO Position

3. Circle的強大前IPO位置

As shared by John Deaton, Circle is well-funded with strong backers like BlackRock (NYSE:BLK) and Fidelity, and its pre-IPO shares are currently trading around $40, with a target IPO valuation of $5 billion.

正如約翰·迪頓（John Deaton）共享的那樣，Circle獲得了Blackrock（NYSE：BLK）和Fidelity等強大的支持者，其IPO前股票目前的交易約為40美元，目標IPO估值為50億美元。

Earlier in 2022, Circle was valued at $9B in a SPAC deal that fell through, and the company also raised funds at $8B in its Series F round.

2022年早些時候，Circle在SPAC交易中的價值為9B美元，該公司還在其F系列賽中籌集了$ 8B的資金。

Given this position, Circle didn’t feel pressure to sell majorly since its stock remains in high demand on the secondary market.

鑑於這個職位，由於其股票對二級市場的需求仍然很高，因此Circle不會感到主要銷售的壓力。

4. Regulatory and Market Edge

4。監管和市場優勢

Circle’s USDC is widely accepted in U.S. regulatory circles, with integrations across Visa (NYSE:V), Stripe, and Robinhood (NASDAQ:HOOD).

Circle的USDC在美國的監管圈中被廣泛接受，跨簽證（NYSE：V），條紋和羅賓（NASDAQ：HOOD）的整合。

In a series of X post Stellar Rippler highlighted that Ripple could have instantly gained this infrastructure, but Circle wasn’s willing to trade it away, especially not for equity in a company launching a rival product.

在一系列X Post Stellar Rippler中，指出Ripple可能會立即獲得此基礎設施，但是Circle不願意將其交易，尤其是對於一家推出競爭對手產品的公司而言，這並不是為了股權。

5. Strategic Misalignment

5。戰略錯位

Analysts suggest this wasn’t about competition, but consolidation.

分析師認為這不是競爭，而是合併。

Ripple was aiming to rapidly expand its position in the stablecoin sector by acquiring USDC’s network and reputation.

Ripple的目標是通過獲得USDC的網絡和聲譽來快速擴大其在Stablecoin行業的地位。

But as Stellar Rippler concluded, Circle saw more value in maintaining its independence rather than merging with a rival looking to reshape the market on its terms.

但是正如Stellar Rippler得出結論的那樣，Circle在保持獨立性方面具有更大的價值，而不是與希望根據其條款重塑市場的競爭對手合併。

In short, Ripple aimed high, but Circle wasn’t ready to be absorbed.

簡而言之，漣漪瞄準了高度，但圓圈還沒有準備好被吸收。