Coinbase Enters Bidding War as Ripple Doubles Offer to $11B for Circle Acquisition
In a dramatic escalation of competition within the cryptocurrency sector, Ripple has reportedly doubled its acquisition bid for Circle, the issuer of the USDC stablecoin, from $5 billion to a staggering $11 billion. This development comes amid growing speculation that Coinbase, a major player in the crypto exchange space, is also interested in acquiring Circle, setting the stage for a potential bidding war. Neither Ripple nor Circle has officially confirmed the negotiations, but if finalized, this deal would rank among the largest acquisitions in the crypto industry since the collapse of FTX. The move underscores the increasing strategic importance of stablecoins and blockchain infrastructure as the sector continues to mature. With both Ripple and Coinbase vying for control of Circle, the outcome could significantly reshape the stablecoin landscape and broader crypto market dynamics.
Ripple Doubles Its Bid to $11B to Acquire Circle — But Coinbase Wants In Too!
Ripple has reportedly increased its acquisition offer for 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 deal, intensifying competition in the crypto sector.
Neither Ripple nor Circle has confirmed the negotiations, but the potential acquisition would mark one of the largest in crypto since FTX’s collapse. Ripple’s initial $4–5 billion bid was rejected last month, prompting the revised offer.
The strategic implications are significant. Acquiring Circle WOULD give Ripple control over USDC, a dominant stablecoin, potentially reshaping its position in payments and institutional crypto services. Market observers debate whether this signals ambition or desperation as regulatory and competitive pressures mount.
Bitcoin Hits Record High Amid Mixed Signals
Bitcoin surged to an unprecedented $111,903 on Coinbase this week, marking a historic milestone for the flagship cryptocurrency. The rally coincided with $607 million flowing into US spot Bitcoin ETFs, underscoring robust institutional demand.
Beneath the euphoria, concerning divergences emerge. Implied volatility lingers NEAR 10-month lows despite price discovery, while CME data reveals tepid institutional positioning. Network activity tells a similar story—daily addresses and wallet growth decline even as prices ascend.
Market technicians note the eerie resemblance to past bull market corrections. When price outpaces fundamentals, sharp pullbacks often follow. The $100,000 level now looms as critical support should profit-taking accelerate.
Hacker’s Onchain Taunt to Researcher Highlights $300M Coinbase Exploit
A brazen cryptocurrency hacker has drawn attention to systemic security flaws after allegedly stealing $300 million from Coinbase users. The perpetrator converted approximately $43 million through THORChain before sending blockchain researcher ZachXBT a mocking message with 0.06 ETH - containing the phrase "L bozo" and an NBA video reference.
The incident exposes critical vulnerabilities in crypto infrastructure, particularly around cross-chain transactions. ZachXBT’s analysis suggests sophisticated laundering attempts, with THORChain’s privacy features potentially enabling fund obfuscation. This exploit follows growing concerns about criminal activity on decentralized networks.
Coinbase’s security team faces mounting pressure as investigators trace the stolen funds. The hacker’s deliberate communication with blockchain analysts demonstrates an alarming confidence in evading detection, raising questions about current tracing capabilities.
