Circle plans IPO but talks with Ripple, Coinbase could lead to sale: Report
Circle plans to pursue an initial public offering (IPO) while engaging in informal discussions with Ripple and Coinbase regarding a potential sale. The target valuation for the IPO is at least $5 billion. Ripple's previous bid of $4 billion to $5 billion was rejected as insufficient. A purchase by Ripple would involve cash and XRP, while Coinbase would offer cash and stock. Circle and Coinbase have collaborated since 2018 on the Centre Consortium to establish standards for fiat-backed stablecoins like USDC. Circle filed for an IPO on April 1 but indicated a possible delay due to economic uncertainty. Market conditions for IPOs are improving as tariffs decrease, with predictions for a surge in crypto IPOs in 2025. Other exchanges like Gemini and Kraken are also considering IPOs. Recent market rebounds have seen significant gains in cryptocurrencies and the stock market, with eToro's IPO resulting in a 29% stock price increase.
