Circle is seeking acquisition offers from Coinbase and Ripple, with an expected valuation of at least $5 billion

According to BlockBeats, on May 20th, according to The Block, stablecoin issuer Circle is looking for buyers with a valuation of at least $5 billion. It is reported that the ongoing sales negotiations involve its long-term partner Coinbase and Ripple, which has recently become a competitor to stablecoins. This San Francisco based startup is also pushing for this acquisition while seeking a public listing. In April of this year, Circle submitted its initial public offering (IPO) prospectus, but the valuation has not yet been disclosed. In the same month, Ripple, which was in the midst of a series of acquisitions, offered $4 billion to $5 billion to acquire Circle, but Circle rejected the offer at the time, believing that the price was too low. In 2022, during the low point of the cryptocurrency bear market, Circle canceled its plan to go public through a merger with the "Blank Check Company" (SPAC), which was valued at $9 billion at the time.