Altcoin News Official TheBitTimes.com

Ripple’s Circle acquisition negotiations have taken an unexpected turn, and right now the payment giant is reportedly doubling its bid to $11 billion, which is intensifying the competition with Coinbase for control of the USDC stablecoin issuer. This bidding war represents one of the largest potential deals in cryptocurrency history, and both companies are leveraging massive resources to secure Circle’s $61 billion stablecoin infrastructure. The Ripple & Circle acquisition battle has captured the crypto market’s attention as XRP reserves and also Coinbase’s cash position fuel an unprecedented bidding war. Ripple news indicates the company raised its initial $5 billion offer after Circle rejected it, and now they’re proposing up to $11 billion using both cash and XRP holdings at the time of writing. Also Read: Top Crypto to Buy Now as Ripple Eyes Circle Acquisition Ripple, Coinbase Battle for Circle: What It Means for XRP, USDC Source: Watcher Guru Ripple...

Circle’s USDC and Tether’s USDT are the two largest stablecoins in the world, with a combined market capitalization of over $210 billion. However, the two tokens vary significantly in size, with USDT making up approximately $150 billion of that total. From this dominant position, Tether has been able to grow to achieve truly incredible profits, reporting that it earned $13 billion in 2024. This is compared to a mere $156 million for Circle. A portion of this difference comes down to the differences in reserves for the tokens . Read more: Why is Tether 213% bigger than Circle but 8,000% more profitable? For example, Circle maintains far more cash available than Tether — approximately $5.8 billion compared to Tether’s $64 million. This suggests that Tether has access to credit to manage redemptions. Tether is also willing to include certain types of investment in its reserves that Circle avoids, including: Secured loans Corpo...

Circle, the company that issues USDC, announced on February 20 that it would no longer be continuing support for the stablecoin on the TRON blockchain and is pushing for a phased transition away from the Justin Sun-created crypto by February next year. This gives users exactly one year to transfer any USDC they hold on the TRON blockchain to one of the other blockchains that USDC is issued on. These include Ethereum, Solana, Algorand, and 11 other blockchains. Circle has already scrubbed TRON as a supported ecosystem on its website. The sudden move could also be seen as a shot at Tether (USDT), the largest stablecoin by market cap and volume. Tether has, according to its own transparency page, issued more than half of its stablecoins on the TRON blockchain. This equates to Tron g>$52 billion worth of crypto Tron g>. Tether’s growth and profits continue to dwarf Circle Read more: Circle emphasizes that Justin Sun is not sanctioned… yet Circle didn’t expand on why it...