Cardano Founder Advocates Ripple Over Coinbase for Circle Acquisition
Charles Hoskinson, the founder of Cardano, has publicly expressed his preference for Ripple over Coinbase as the ideal acquirer for Circle, the issuer of the USDC stablecoin. In a recent YouTube video, Hoskinson highlighted Ripple’s potential to bring greater diversity to the cryptocurrency ecosystem compared to other potential buyers like Coinbase or venture firm Andreessen Horowitz (a16z). His endorsement underscores the ongoing dynamics and strategic moves within the crypto industry as major players position themselves for growth and influence.
Cardano Founder Backs Ripple Over Coinbase for Circle Acquisition
Charles Hoskinson, founder of Cardano, has publicly endorsed Ripple as the preferred acquirer for Circle, the issuer of USDC stablecoin. In a YouTube video, Hoskinson argued that Ripple’s acquisition would bring greater diversity to the crypto ecosystem compared to a deal with Coinbase or venture firm Andreessen Horowitz (a16z).
"I’d rather Ripple—the XRP people—buy Circle," Hoskinson stated, emphasizing Ripple’s potential as a "better custodian" for the stablecoin issuer. He criticized the existing alliance between Coinbase, a16z, and Circle, labeling it a "mafia" that marginalizes smaller players in the industry.
The remarks highlight growing tensions around consolidation in crypto infrastructure, particularly in stablecoin issuance and exchange listing dynamics. Hoskinson’s comments suggest a strategic preference for decentralized alternatives over entrenched institutional partnerships.
Caladan Taps Coinbase, BlackRock Veterans for U.S. Crypto Push
Singapore-based crypto trading firm Caladan is making a strategic entry into the U.S. market with a new office in New York City. The move aligns with a shifting regulatory landscape under the TRUMP administration, which has shown a more favorable stance toward digital asset companies.
Caladan aims to bridge Asia’s robust crypto infrastructure with growing institutional demand in the United States. The New York office will serve as a hub for forging institutional partnerships and navigating regulatory frameworks, including potential FINRA and broker-dealer registrations.
The expansion signals renewed confidence in the U.S. crypto market’s institutional trajectory. By leveraging Wall Street-grade leadership—including veterans from Coinbase and BlackRock—Caladan positions itself at the intersection of global liquidity flows and regulatory evolution.
Circle Denies Acquisition Rumors, Focuses on IPO Plans
Circle has categorically dismissed speculation about potential acquisitions by Ripple Labs or Coinbase. The stablecoin issuer emphasized its commitment to independence, stating it remains focused on long-term strategic objectives. Market chatter had suggested a possible $5 billion valuation for such a deal.
Preparations for Circle’s initial public offering have regained momentum after a 2022 delay. The company engaged investment banks in January 2024 to advance the IPO process, signaling confidence in its standalone growth prospects. This development comes amid heightened activity in the cryptocurrency sector’s traditional finance integration.
Circle Denies Sale Talks with Coinbase and Ripple, Reaffirms IPO Plans
Circle, the issuer of the USDC stablecoin, has categorically denied reports of potential acquisition discussions with crypto giants Coinbase or Ripple Labs. A company spokesperson dismissed speculation about a $5 billion sale, emphasizing Circle’s focus on its independent growth trajectory and upcoming public listing.
The denial follows a Fortune report suggesting informal takeover talks. Circle’s targeted IPO valuation aligns with the rumored acquisition figure, underscoring the company’s confidence in its standalone prospects. Market observers note this development reinforces stablecoins’ strategic importance in the evolving digital asset ecosystem.
