Crypto Heavyweights Ripple, Coinbase, and Stripe Set for USDC Showdown—Palihapitiya Calls It Early
The battle for stablecoin supremacy just got a lot more interesting. Chamath Palihapitiya—never one to shy away from a bold prediction—just threw gasoline on the USDC dominance debate. Ripple, Coinbase, and Stripe are now locked in a three-way fight for control of the dollar-pegged crypto space.
Who wins? Depends who outmaneuvers the regulators first—because let’s be real, in crypto, the 'rules' are just speed bumps for the well-connected.
The crypto community is betting high onrumours. Many XRP influencers speculate that Ripple may be trying to acquire Circle, the company behind USDC. Some XRP community members also believe such a move could massively boost XRP’s utility. But with Circle preparing for an IPO on the New York Stock Exchange under the ticker CRCL, many doubt these rumors.
Chamath: It Would Be a Genius Move
Venture capitalist Chamath Palihapitiya believes a buyout of Circle by Ripple or Coinbase WOULD be “genius.” He said Circle’s IPO is 25x oversubscribed and values the firm around $7 billion. If someone could buy it for $12–13 billion, it would be a steal. Chamath praised Circle for building key stablecoin infrastructure ahead of upcoming U.S. regulations like the GENIUS bill.
He predicted that Ripple, Coinbase, Stripe, and Square would soon compete for stablecoin dominance, which would benefit users but hurt long-term profits. According to him, the company offering the most cost-effective and efficient system will likely win the race.
A Circle of Denial?
It all started when, Bloomberg first reported that Ripple’s initial bid for Circle was rejected, with Coinbase allegedly making a counteroffer. However, Circle firmly told the media that it’s “not for sale.”
Meanwhile, Ripple CEO Brad Garlinghouse has also denied making a $10 billion offer for Circle but didn’t rule out that acquisition talks may have happened.
Mixed Reactions From the Crypto Community
Crypto analyst Scott Melker agreed with Chamath but added that Tether’s position could change the game. If Tether gets U.S. regulatory approval, it might become unbeatable. He said he’s friendly with both Ripple and Circle teams and wants both to win.
On the other hand, XRP influencer Mickle claimed Ripple already offered $5 billion to buy Circle, later increasing it to over $10 billion. He argued this would be more appealing than Circle’s goal to raise $6 billion from its IPO. But critics called it baseless speculation.
Some pointed out that Circle’s board and long-term goals might stop such a deal. Also, Circle officially denied receiving any offers from Ripple or Coinbase and said it’s focused on the IPO.
