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.

Paxos, a stablecoin issuer, has applied to convert its New York trust charter into a national one under the Office of the Comptroller of the Currency (OCC). This move comes as part of a broader trend where crypto firms like Ripple and Circle are pursuing federal oversight to enhance safety and transparency in their operations.