NiftyNoon: The Circle Dichotomoy - Will USDC's Issuer IPO or Sell to Coinbase/Ripple? ⭕️💸🤔
Circle, the issuer behind USDC, is faced with an exit duality as it mulls an IPO as $5B+ acquisition offers from Coinbase and Ripple reportedly circle (May 20, 2025)
Nifty Thought:
Circle, the powerhouse behind the USDC stablecoin, is navigating a dual path: while its long-awaited IPO paperwork was filed in early April, the company is also reportedly engaged in informal sales talks with crypto giants Coinbase and Ripple, four banking and private equity executives have claimed. Circle is said to be seeking at least $5 billion, its target IPO valuation. Many see Coinbase as the most logical acquirer due to their deep existing ties, including co-launching USDC via the Centre Consortium and a current revenue-sharing agreement heavily favoring the exchange; one source even quipped, "If Coinbase wanted to buy them, Circle would sell in a heartbeat".
Despite Ripple reportedly having a $4-$5 billion bid rejected as too low, the payments company boasts a massive war chest, including over $100 billion in XRP reserves it could leverage for a deal. Coinbase, armed with $8 billion in cash and the ability to easily raise more as a public company soon joining the S&P 500, remains a strong contender, though CEO Brian Armstrong emphasized that successful integration is key in any M&A. The backdrop for these maneuvers includes an improving IPO market, highlighted by eToro's recent successful debut, and a generally more favorable U.S. regulatory outlook, potentially boosting Circle's confidence in its public offering even as acquisition rumors swirl.
Highlighted News:
⭕️ Circle courting acquisition bids from Coinbase and Ripple:
https://x.com/MessariCrypto/status/1924543245972861185
💰 Banker sources say Coinbase in talks to buy Circle—a likely outcome given the contract between them:
https://x.com/jeffjohnroberts/status/1924509666211660219
🐥 SPLAT Terminal - Season 1 is here:
https://x.com/asksplat/status/1924600223818539193
⛽️ @solana’s memecoin launchpad scene just got spicy:
https://x.com/dune/status/1923785664321274228?s=61
📜 Tonight, the Senate moved forward on the GENIUS Act:
https://x.com/senatorhagerty/status/1924643607899685205?s=61
Project and Community News:
JPMorgan CEO Jamie Dimon said they will allow clients to buy Bitcoin: https://x.com/bitcoinmagazine/status/1924499835031261552
Strategy has acquired 7,390 BTC for ~$764.9 million at ~$103,498 per bitcoin and has achieved BTC Yield of 16.3% YTD 2025: https://x.com/Strategy/status/1924435820947058877
Metaplanet Acquires Additional 1,004 $BTC: https://x.com/Metaplanet_JP/status/1924300151025209474
CME-traded XRP futures are now *live*... CFTC-regulated contracts on XRP; Spot XRP ETFs only a matter of time: https://x.com/NateGeraci/status/1924468915259732402
After a 3-day break, Abraxas Capital accumulated 46,295 $ETH($115.3M) again: https://x.com/lookonchain/status/1924642704874733782?s=46
Australian judge rules that Bitcoin is a form of money, which could make it exempt from capital gains tax – AFR: https://x.com/BTC_Archive/status/1924434055459717565
New UK crypto reporting rules incoming: https://x.com/UKCBT_org/status/1924473318297764236
Stablecoin supply maintains its size at $239.3 billion, with USD₮ staying dominant at a 63.5% market share ($151.2 billion): https://x.com/PlasmaFDN/status/1924493139114365326
BIP 177 proposes redefining Bitcoin's base unit by making 1 satoshi = 1 bitcoin: https://x.com/AlexesNakamoto/status/1924126340057567691
DOJ investigating Coinbase the recent hack after insiders allegedly took bribes to leak data: https://x.com/BTCTN/status/1924575542554104092
The top utility based Rune token LIQUIDIUM @LiquidiumWTF is up +146.9% this week: https://x.com/ord_io/status/1924374544682250365?s=61
@anza_xyz research team announces new state of the art Solana Consensus on stage at Solana Accelerate: https://x.com/solana/status/1924495981711654916?s=46
Frontiers by @Paradigm returns to San Francisco on August 6-8, 2025, after SBC: https://x.com/gakonst/status/1924524141782434216
Magic Eden just rolled out a closed beta for Lucky Buy on Ethereum: https://x.com/vohvohh/status/1924650883486462383?s=61
The @MeteoraAG team is rolling out major improvements to unlock new possibilities & soive problems for partners like @believeapp and @timedotfun, @xapplehq & many others: https://x.com/weremeow/status/1924449886038303231
@Mongraal Joined @opensea as their first global gaming ambassador: https://x.com/Mongraal/status/1924471979567976601
Quick Stats:
👾 Blur ETH Daily Volume: 570 ETH (▼ 17.36%)
🌊 OpenSea ETH Daily Volume: 806 ETH (▲ 26.58%)
🟠 BTC: $104,818.91 (▲ 2.41%)
🔷 ETH: $2,484.23 (▲ 3.76%)
🟣 Solana: $165.98 (▲ 3.50%)
🟪 Polygon: $0.23 (▼ 0.21%)
Top NFT Sales:
CryptoPunks #532: 55.55 ETH
CryptoPunks #7833: 49.40 ETH
CryptoPunks #1235: 47.49 ETH
NFT Daily Winners:
💼 Ordinal Maxi Biz: 0.03 BTC (▲ 7.86%)
🏴☠ Captainz: 0.46 ETH (▲ 4.37%)
🧦 Bitcoin Puppets: 0.05 BTC (▲ 3.02%)
👩🏻 Milady Maker: 3.10 ETH (▲ 0.98%)
🚬 CryptoPunks: 46.60 ETH (► 0.00%)
🏳🌈 Chromie Squiggles: 5.00 ETH (► 0.00%)
NFT Daily Losers:
🐧 Pudgy Penguins: 10.10 ETH (▼ 0.01%)
🧙♂️ Taproot Wizards: 0.21 BTC (▼ 0.10%)
👾 Tensorians: 2.78 SOL (▼ 0.36%)
🦧 Bored Ape Yacht Club: 12.80 ETH (▼ 0.39%)
⛩ Azuki: 2.42 ETH (▼ 0.82%)
😡 Mad Lads: 35.40 SOL (▼ 1.45%)
🐵 NodeMonkes: 0.04 BTC (▼ 2.03%)
🐱 Quantum Cats: 0.04 BTC (▼ 2.44%)
🍭 Mocaverse: 1.63 ETH (▼ 9.22%)
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