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Ripple Attempts $5 Billion Takeover Of USDC Issuer Circle, Bid Rejected

  • Ripple Labs makes a $4 billion to $5 billion bid to acquire stablecoin provider Circle Internet Group, which gets rejected as being too low.
  • Despite the rejection, Ripple remains interested in Circle and may consider making a revised offer.
  • Circle, issuer of USDC stablecoin, has filed for an IPO to achieve a valuation of $4 billion to $5 billion, signaling its second attempt to go public.
  • Recent advancements in stablecoin legislation in Congress, along with Ripple's strategic moves, indicate a changing landscape for the cryptocurrency industry.

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