Circle denies rumors of selling to Coinbase or Ripple

ChainCatcher news, according to Pymnts, stablecoin issuer Circle has denied rumors of selling its company to San Francisco crypto firms Ripple Labs or Coinbase.

A spokesperson for Circle refuted this claim in a recent statement to PYMNTS, following reports that Circle was engaged in informal discussions seeking to sell the company at a valuation of $5 billion, which aligns with its target valuation for an initial public offering (IPO).

Despite these reports, the Circle spokesperson emphasized the denial of any plans to sell to any entities, including Coinbase and Ripple, and stated that Circle is committed to achieving its long-term goals.