Ripple proposed acquiring Circle, the issuer of USDC, for $4 billion to $5 billion, but Circle deemed the offer insufficient and rejected it. This development highlights ongoing dynamics in the stablecoin market and Ripple's strategic interests.

Circle's acquisition of the tokenization startup Hashnote was valued at approximately $100 million, according to recent IPO filings. The deal included $9.9 million in cash and nearly 2.9 million shares, with additional shares contingent on employee vesting conditions. Circle aims to raise about $600 million through its upcoming IPO.