Ripple CEO Brad Garlinghouse has dismissed claims that the company sought to acquire stablecoin issuer Circle, putting an end to weeks of speculation.
Key Takeaways:
- Ripple CEO Brad Garlinghouse denied rumors of a $10–$20 billion bid to acquire Circle.
- Circle remains focused on its IPO plans and dismissed acquisition speculation.
- Ripple is advancing real-world tokenization projects, including Dubai’s real estate initiative on XRPL.
Speaking at the XRP Las Vegas conference, Garlinghouse addressed the widely circulated rumors during a fireside chat with fintech policy expert Chris Brummer.
Brummer later summarized the discussion in a post on X, noting that the Ripple chief “refuted” the idea that Ripple ever made a $10 to $20 billion bid for Circle.
Ripple’s Alleged $5B Circle Bid First Surfaced in April
Rumors of a possible acquisition first surfaced in April, with reports suggesting Ripple had initially offered between $4 billion and $5 billion.
Some outlets later claimed the offer was raised to as high as $20 billion. Garlinghouse did not confirm whether an initial offer was made but made clear that Ripple was not pursuing an outright takeover.
Circle also moved to quash the speculation, stating that it remains focused on long-term objectives.
The company has since filed for an initial public offering on the New York Stock Exchange, planning to offer 24 million shares priced between $24 and $26.
Beyond the acquisition rumors, Garlinghouse provided insights on several key initiatives during the conference.
Ripple’s acquisition of prime brokerage firm Hidden Road was a topic of discussion.
According to Brummer, the deal underscores Ripple’s ambition to position its RLUSD token as an on-ledger collateral asset.
Hidden Road is expected to integrate RLUSD into its services, a move Garlinghouse described as part of a broader “infrastructural” strategy aimed at strengthening the crypto ecosystem.
Garlinghouse also highlighted the growing role of tokenization in real-world applications. He pointed to Dubai’s decision to use the XRP Ledger (XRPL) for a real estate tokenization project.
In partnership with the Dubai Land Department, Ctrl Alt, the Dubai Future Foundation, and the Virtual Assets Regulatory Authority, the initiative will issue tokenized property title deeds on XRPL.
The Ripple CEO called the project an example of tokenization moving from concept to practical implementation.
Ripple CEO Asks for Unity Within Crypto
Lastly, Garlinghouse urged greater unity within the crypto industry.
He referenced Ripple’s donation of the “Skull of Satoshi” to the Bitcoin community as a gesture aimed at fostering collaboration.
He warned that ongoing conflicts between crypto factions only serve to hinder the industry’s progress.
As reported, the publicly listed energy company VivoPower is investing $121 million in XRP as a strategic reserve, making it the first company in the world with an XRP-focused treasury.
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