加密专家说，Circle可能错过了Ripple的提议

（中心广场） - 加密公司Ripple最近提供了大笔资金，以购买以发行USDC Stablecoin而闻名的公司。

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

一位加密专家说，Ripple和Circle之间的合并将使两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.

经过近两年的谣言，Ripple对收购Circle的兴趣最终被拒绝，并认为太低了。

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

加密庞然大物已经讨论了几个月的合并，在加密货币行业的动荡时期汇聚。

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代币而闻名，为Circle Internet Group Inc.提供了约40亿至50亿美元的$ 50亿美元，这是一家以发行USDC Stablecoin的认可的公司。

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，多个消息人士告诉彭博社，但该提议最终被Circle高管拒绝，后者将价格定为接近60亿美元，而谈判破裂了。

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

任何公司都无法立即确认报价和估值。

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

但是，两个熟悉此事的人说，尽管进行了数月的谈判，但价格差异最终被证明是无法克服的。

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

合并将巩固两家著名的Stablecoin公司，并将两家领先的加密公司汇总在一起。

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.

两家公司都在探索公开的路线，由于难以确保合适的估值，Circle去年不得不取消与空白检查公司的合并。

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

同时，Ripple在今年下半年一直在考虑首次公开募股（IPO）。

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

合并将加快两家公司的流程。

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

尽管进行了数月的讨论和估值的近距离，这一事实破裂了，这使一些加密专家感到惊讶。

Some argued that Circle may regret its decision.

有人认为圈子可能会后悔其决定。

“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.

加密分析师Ali Aoun说：“考虑到加密市场的当前状态，Circle接受Ripple的提议似乎很容易。”

“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40亿美元至50亿美元的估值，这对Circle的身材高昂而言是一次抢断。难怪该报价被拒绝了。”

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补充说，Ripple一直在积极推出自己的Stablecoin（RLUSD），并希望成为Circle USDC和Tether的USDT的认真竞争对手，并有可能损害他们的市场份额；这些稳定的是加密货币，其价值与美国美元挂钩。

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

他说：“如果Ripple收购了Circle，它将拥有世界第二大的Stablecoin。”

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

此外，Ripple和Circle之间的合并将使两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.

前亚马逊和IBM执行官桑迪·卡特（Sandy Carter）表示：“ Ripple的全球支付网络和流动性与USDC庞大的用户群和公认的品牌的结合将在财务的未来创造强大的力量。”

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

卡特指出，Ripple本可以将USDC Stablecoin引入国外市场，从而极大地扩大了其影响力。

“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.”

她说：“它的网络远远超出了美国边界，在亚洲，拉丁美洲和欧洲之间建立了牢固的关系。” “ Ripple说公司90％的业务是在美国境外进行的。这种覆盖范围可能会将USDC推向了Stablecoin采用率仍处于起步阶段但迅速增长的市场。”

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.

她补充说，拒绝表明Circle对其产品有信心，并认为它可以建立增加其全球市场份额所需的数字基础设施。

“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.”

她说：“对于金融科技，数字资产和全球付款的领导者，这一课程很明确：仅市场份额就不会赢得未来。” “这是关于生态系统覆盖范围，互操作性和信任的。Circle押注这三个支柱将独立地为其提供更好的服务。Ripple押注它可以建立或获得到达同一目的地的方式，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.

科技政策专家罗斯林·莱顿（Roslyn Layton）表示，双方本来可以组成一支优秀的团队，尤其是当Circle努力进行首次公开​​募股时。

“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.”

她说：“加速发生在熊市中，创新转向征服反弹。” “窗户正在关闭。@circle遇到了IPO逆风，@Ripple具有现金，基础设施和法律清晰度。”

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是第二次公开尝试。它试图在2022年尝试，但合并交易崩溃了，这本来可以实现的。

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

《华尔街日报》报道，在持续的股市波动中，其他加密货币公司正在推迟其公开计划。