PANews reported on June 4 that according to The Block, Ripple CEO Brad Garlinghouse publicly denied at a Las Vegas conference that Ripple had proposed to acquire stablecoin issuer Circle, saying that the relevant reports were false and that he "had never considered the deal." Earlier, some media reported that Ripple had proposed a $4-5 billion acquisition offer. Circle responded that "the company is not for sale" and is currently preparing for an IPO with a valuation of $7.2 billion, planning to sell 32 million Class A common shares. Ripple launched its own stablecoin RLUSD in 2024, and its current market value is $310 million, far lower than USDC's $61.5 billion.