- Circle denies sale rumors involving Ripple and Coinbase, reaffirming IPO plans for 2025.
- In 2025, Circle acquired Hashnote to expand its presence in tokenized treasury markets.
- Circle resumed IPO preparations in early 2024 and continues to work with investment banks.
Circle has pushed back against rumors suggesting it might sell to Coinbase or Ripple. The speculation started after reports claimed Circle sought a $5 billion valuation and had held early talks with both firms. On May 19, Circle issued a public response. A spokesperson said, “Circle is not for sale. Our long-term goals remain the same.”
This firm denial comes as Circle presses ahead with its long-planned public offering. In April 2025, Circle filed for an initial public offering with the U.S Securities and Exchange Commission. Since January 2024, the firm has been working with investment banks to guide the process.
The rumors gained traction after a report from Seeking Alpha. That article, referencing a Fortune piece, said Ripple had already offered between $4 billion and $5 billion. Circle reportedly rejected the bid, calling the offer too low. While Ripple remains interested, no new talks have emerged. Coinbase and Ripple have not commented on the claims.
Circle has positioned itself as a key player in stablecoins and digital finance infrastructure. It is best known as the issuer of USD Coin (USDC), the second-largest stablecoin by market cap. The company said its plans remain focused on growing independently within the crypto space.
In 2022, Circle postponed its first IPO attempt due to unfavorable market conditions. The new filing marks the company’s renewed push toward becoming publicly listed. CEO Jeremy Allaire has highlighted Circle’s focus on institutional-grade products and blockchain infrastructure.
In January 2025, Circle acquired Hashnote, a company behind the USYC stablecoin. That deal aimed to expand Circle’s reach in tokenized treasury markets. The firm has also invested in boosting global adoption of USDC.
Related: Circle Wins Approval to Run Stablecoin Services in Abu Dhabi
Despite media speculation, Circle stressed its commitment to long-term goals. Its roadmap, the company said, has not changed. There is no indication of any pending acquisition. Observers had viewed a potential sale as a major strategic shift. However, Circle’s public stance rules that out.
Circle remains silent on IPO timing, but the process is clearly ongoing. While rejecting outside acquisition interest, the company appears to be preparing for public markets. Its focus remains on staying independent and expanding its role in global crypto finance.
