Ripple’s Acquisition Bid Rejected? Expert Suggests Circle Has $10B IPO in Its Sights
Attorney John E. Deaton, a well-known advocate for XRP holders, explained that Circle’s market value could reach $10 billion after reportedly turning down a $5 billion acquisition offer from Ripple. Deaton, who has represented XRP investors in legal matters involving Ripple and the U.S. Securities and Exchange Commission (SEC), posted on social media platform X that the rejected offer suggests Circle expects a much higher valuation following its public debut.
The bid from Ripple was reportedly presented prior to Circle’s upcoming initial public offering (IPO). Deaton wrote: “Circle’s rejection of the $5B offer suggests Circle believes its market value, particularly post-IPO, is likely to exceed $5 billion, possibly approaching or surpassing the $9 billion from its 2022 SPAC attempt.” He further explained: