Editor's PiCK
"Circle Engages in Private Negotiations with Coinbase and Ripple for Company Sale"
JH Kim
Summary
- Fortune reported that Circle has started informal negotiations for a company sale with Coinbase and Ripple.
- Circle proposed a target company valuation of $5 billion for the IPO, and if Coinbase shows acquisition interest, the sale process may proceed quickly.
- It was also reported that Circle is still more focused on the IPO, and all three companies declined to comment.
On the 19th (local time), Fortune reported, citing multiple sources, that Circle, the issuer of the dollar-based stablecoin USDC, has entered into informal negotiations for a company sale with Coinbase or Ripple, the issuer of XRP.
The media analyzed, "According to sources, Circle has proposed a target company valuation of $5 billion, which is the goal for its IPO, to these companies."
It continued, "One source stated that if Coinbase expresses acquisition intentions, Circle will quickly proceed with the sale process, but another source mentioned that Circle is still more focused on the IPO," adding, "All three companies declined to comment on the matter."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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