Brad Garlinghouse, CEO of Ripple, has vehemently denied allegations that the company tried to acquire Circle, the issuer of the USDC stablecoin. Recent reports have suggested that Ripple is in talks to buy Circle in a deal that could have been worth up to $5 billion. However, Garlinghouse described the news as "inaccurate" and "completely untrue".

The public acquisition process has drawn the attention of the cryptocurrency community, especially with Ripple's recent move towards stablecoins. The deal with Circle, the second largest issuer of stablecoins after Tether, represents an important step for Ripple. However, Garlinghouse's public denial puts an end to any ongoing speculation, at least for the time being.

What sparked these rumors?
These claims were made by unnamed sources, citing specialized media, alleging that Ripple made an offer to buy out Circle. The aim of this alleged offer was to strengthen Ripple's presence in the stablecoin market and possibly enhance its financial products.

Some have speculated that Ripple, rich in XRP reserves and having recently achieved legal victories against the U.S. Securities and Exchange Commission, may be ready for bold expansion steps. However, Garlinghouse quickly denied these claims, stating that Ripple has no plans or agreements with Circle.