Coinbase Enters Fray as Ripple Doubles Bid to $11B for Circle’s USDC Dominance

In a dramatic escalation of acquisition talks, Ripple has doubled its offer to $11 billion to acquire Circle, the issuer of the USDC stablecoin. This move comes amid growing speculation that Coinbase may also be interested in the deal, setting the stage for a potential bidding war in the crypto custody and payments space. While neither company has confirmed the rumors, industry analysts suggest the heightened competition reflects strategic plays for stablecoin dominance as regulatory clarity improves in 2025.

Ripple Doubles Its Bid to $11B to Acquire Circle — But Coinbase Wants In Too!

Ripple has reportedly increased its offer to acquire Circle, the issuer of USDC stablecoin, from $5 billion to $11 billion. The MOVE comes amid speculation that Coinbase may also be vying for the acquisition. Neither company has confirmed the rumors, but the potential deal has ignited debate over Ripple’s strategic intentions.

Last month, Circle rejected Ripple’s initial $4–5 billion bid. The heightened competition, particularly with Coinbase’s potential involvement, may have prompted Ripple to double its offer. If finalized, this acquisition would mark one of the largest in the crypto sector.

Stablecoin Showdown: Ripple and Coinbase Vie for Circle in Multi-Billion Dollar Bidding War

Circle Internet Financial, the issuer of USDC, has become the center of a high-stakes acquisition battle. Reports indicate Ripple offered $4–5 billion for the stablecoin giant in April 2025, with Coinbase quickly countering at $5 billion. The price has since surged to $9–11 billion as strategic interest intensifies.

USDC’s dominance as the second-largest stablecoin explains the frenzy. With $43.9 billion in circulation as of December 2024, it commands 24% of the market. Circle maintains its focus on an IPO, but the bidding war underscores stablecoins’ growing role in crypto infrastructure.