{"id":134748,"date":"2025-05-21T03:16:37","date_gmt":"2025-05-21T03:16:37","guid":{"rendered":"https:\/\/teknomers.com\/en\/ripple-ceo-criticizes-sen-lummis-following-cancelled-talks-5b-circle-bid-ahead\/"},"modified":"2025-05-21T03:16:37","modified_gmt":"2025-05-21T03:16:37","slug":"ripple-ceo-criticizes-sen-lummis-following-cancelled-talks-5b-circle-bid-ahead","status":"publish","type":"post","link":"https:\/\/teknomers.com\/en\/ripple-ceo-criticizes-sen-lummis-following-cancelled-talks-5b-circle-bid-ahead\/","title":{"rendered":"Ripple CEO Criticizes Sen. Lummis Following Cancelled Talks \u2013 $5B Circle Bid Ahead"},"content":{"rendered":"<p><strong>Key Takeaways:<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Garlinghouse\u2019s criticism of Lummis comes as Ripple attempts to expand its influence in Washington while pursuing a $4\u20135 billion bid to acquire USDC issuer Circle.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Circle rejected Ripple\u2019s offer and is still in talks with both Ripple and Coinbase while targeting a $5 billion IPO valuation.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Coinbase is viewed as a stronger suitor due to its equity stake in Circle and control over key aspects of the USDC infrastructure.<\/span><\/li>\n<\/ul>\n<p>Ripple CEO Brad Garlinghouse blasted U.S. Senator Cynthia Lummis on Monday for canceling their planned meeting and declining to reschedule, intensifying Washington drama as Ripple pursues a $4-5 billion grab for USDC creator Circle.<\/p>\n<p>According to a <a rel=\"nofollow\" href=\"https:\/\/x.com\/bgarlinghouse\/status\/1924506000096174168\">social media post<\/a> published by Garlinghouse on May 19, the statement came ahead of his visit to Washington, where he said he was meeting with lawmakers to support legislation on stablecoins and market structure.<\/p>\n<h2 class=\"wp-block-heading\"><span id=\"h-garlinghouse-invites-lummis-to-re-engage-on-public-crypto-dialogue\">Garlinghouse Invites Lummis to Re-engage on Public Crypto Dialogue<\/span><\/h2>\n<p>Lummis, who chairs the Senate Digital Assets Subcommittee and represents Wyoming, was singled out for her absence. Garlinghouse said he hoped she would reconsider, describing her as a key figure in one of the most crypto-friendly states.<\/p>\n<p>In the post, Garlinghouse extended an open invitation to speak with Lummis publicly, either through a live-streamed X Space or in person at upcoming industry events. He linked the discussion to broader efforts by the Trump administration to position the U.S. as a leader in crypto.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Stablecoins are exploding globally for their real-world applications (the sheer amount of recent announcements across crypto, fintech and traditional finance should indicate as such). <br \/>The sooner that the US can pass workable, clear rules, the faster it reaps the benefits of\u2026 <a rel=\"nofollow\" href=\"https:\/\/t.co\/jgDvHSJ4L4\">https:\/\/t.co\/jgDvHSJ4L4<\/a><\/p>\n<p>&mdash; Brad Garlinghouse (@bgarlinghouse) <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/bgarlinghouse\/status\/1920647147344605294?ref_src=twsrc%5Etfw\" target=\"_blank\">May 9, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<h2 class=\"wp-block-heading\"><span id=\"h-ripple-s-bid-for-circle-raises-stakes-in-stablecoin-power-struggle\">Ripple\u2019s Bid for Circle Raises Stakes in Stablecoin Power Struggle<\/span><\/h2>\n<p>The recent confrontation between Ripple and Coinbase over Circle has added urgency to the stablecoin policy debate. <\/p>\n<p>Garlinghouse\u2019s post came just days after reports that Ripple submitted a $4\u20135 billion offer to acquire Circle, the issuer of USDC, one of the largest dollar-backed stablecoins. The offer was rejected as too low, according to Bloomberg.<\/p>\n<p>Sources familiar with the matter say Circle is holding informal talks with both Ripple and Coinbase, even after filing for an IPO in April. While still pursuing a public listing, Circle is seeking a $5 billion valuation\u2014setting the bar for any potential sale. <\/p>\n<p>The competing bids now place two of the industry\u2019s most prominent firms in a direct contest over the future of USDC. Ripple\u2019s offer likely included a mix of **cash** and **XRP**, tapping into its sizable token reserves. <\/p>\n<p>However, Coinbase is widely viewed as the stronger contender due to its **equity stake** in Circle and control over key aspects of the USDC framework. The two firms previously co-managed USDC through the now-dissolved **Centre Consortium** and still share **revenue** from the stablecoin\u2019s reserves.<\/p>\n<p>What\u2019s unfolding goes beyond corporate rivalry. The **future** of USDC carries implications for how **private stablecoins** are governed, distributed, and embedded into financial infrastructure. <\/p>\n<p>With legislation advancing slowly, acquisitions and strategic positioning may prove just as influential in shaping the rules that will govern stable **digital dollars**. For lawmakers, these corporate maneuvers add pressure to define not just who gets regulated, but who gets heard. <\/p>\n<h2 class=\"wp-block-heading\"><span id=\"h-frequently-asked-questions-faqs\">Frequently Asked Questions (FAQs)<\/span><\/h2>\n<div class=\"schema-faq wp-block-yoast-faq-block\">\n<div class=\"schema-faq-section\" id=\"faq-question-1747772172041\">\n<strong class=\"schema-faq-question\">What does this say about internal divides within the crypto industry?<\/strong> <\/p>\n<p class=\"schema-faq-answer\">The clash demonstrates diverging priorities: Ripple promotes a **multichain**, enterprise-first vision, while some **policymakers** and insiders lean **Bitcoin-first** or **stablecoin-conservative**. These divisions are becoming more pronounced as regulation approaches.<\/p>\n<\/div>\n<div class=\"schema-faq-section\" id=\"faq-question-1747772182983\">\n<strong class=\"schema-faq-question\">How are stablecoins becoming a proxy for industry power?<\/strong> <\/p>\n<p class=\"schema-faq-answer\">Controlling a major stablecoin like **USDC** isn\u2019t just about payments. It offers leverage over **liquidity** flows, partnerships, and regulatory **negotiations**. Ownership shows influence over how **digital dollars** function in the broader economy.<\/p>\n<\/div>\n<div class=\"schema-faq-section\" id=\"faq-question-1747772194322\">\n<strong class=\"schema-faq-question\">What risk does a rejected acquisition pose for Ripple?<\/strong> <\/p>\n<p class=\"schema-faq-answer\">If Ripple fails to secure Circle, it could fall behind in the race to shape the stablecoin layer of crypto infrastructure, especially if Coinbase gains even more control over **USDC**\u2019s future direction.<\/p>\n<\/div>\n<\/div>\n<p>The post Ripple CEO Slams Sen. Lummis After Canceled Talks \u2013 $5B Circle Bid Looms appeared first on Cryptonews.<\/p>\n<p><a href=\"https:\/\/teknomers.com\/en\/category\/finance\/\">Finance and Crypto News-10<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways: Garlinghouse\u2019s criticism of Lummis comes as Ripple attempts to expand its influence in Washington while pursuing a $4\u20135 billion bid to acquire USDC issuer Circle. Circle rejected Ripple\u2019s offer and is still in talks with both Ripple and Coinbase while targeting a $5 billion IPO valuation. Coinbase is viewed as a stronger suitor [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":108984,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23832],"tags":[],"class_list":["post-134748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/134748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/comments?post=134748"}],"version-history":[{"count":0,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/134748\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/media\/108984"}],"wp:attachment":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/media?parent=134748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/categories?post=134748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/tags?post=134748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}