At a closed-door event held in Las Vegas, Ripple’s CEO Brad Garlinghouse delivered the first explicit denial from the company’s leadership regarding the circulating acquisition rumors.
Ripple CEO Brad Garlinghouse refuted the claims about a multibillion-dollar acquisition bid, stating that no attempt was ever made by the company to acquire Circle.
Georgetown Law professor Chris Brummer mentioned that, during an on-stage conversation held at a private event in Las Vegas on June 1, Brad Garlinghouse clarified Ripple had “never pursued an acquisition of Circle” and that the matter was not even being contemplated.
Brummer noted that Garlinghouse “extended his best wishes to the company” but considered Circle’s line of business to fall beyond the scope of Ripple’s existing objectives.
Speculated Acquisition Offer
On April 30, media outlets reported that Ripple proposed an acquisition offer ranging from $4 billion to $5 billion for Circle. The sources, who remained anonymous, claimed that Circle considered the valuation insufficient but indicated that further discussions could still take place in the future.
Circle has been in the process of gearing up for an initial public offering after submitting its registration paperwork to the U.S. Securities and Exchange Commission (SEC) on April 1. Its executives, however, have refrained from making any public remarks regarding the company’s valuation or the expected timeline.
Garlinghouse’s remarks at the Las Vegas event marked the initial direct response from Ripple’s top leadership addressing the acquisition speculation.
In the same discussion, Garlinghouse detailed Ripple’s intention to use the forthcoming RLUSD stablecoin as collateral placed directly on the ledger for transactions processed through the XRP Ledger.
Expanding the Vision: A Comprehensive Strategic Approach
RLUSD and the company’s recent purchase of the prime-brokerage platform Hidden Road were described by him as strategic moves aimed at developing financial infrastructure that connects conventional markets with tokenized assets.
Garlinghouse stated that Ripple is actively collaborating with authorities in the United Arab Emirates on pilot programs focused on real estate tokenization. He also advised cryptocurrency firms to steer clear of public conflicts that could undermine the industry’s credibility. As a symbol of blockchain unity, he referenced Ripple’s donation of the “Satoshi skull” artifact, framing it as a diplomatic gesture between networks.
Garlinghouse also shared insights from previous meetings with the U.S. Securities and Exchange Commission, highlighting how levels of staff involvement varied throughout the agency’s prolonged legal battle with Ripple.
Brummer noted that the remarks underscored the personal significance of regulatory conflicts and reflected Ripple’s vision for a blended future in which tokenized assets, stablecoins, and traditional banking institutions function collaboratively on integrated financial infrastructures.
