In April, Bloomberg reported that Ripple had made an acquisition offer for Circle valued between $4 billion and $5 billion, which was reportedly rejected as undervalued. Ripple CEO Brad Garlinghouse later disputed the report in a conversation with Georgetown Law professor Chris Brummer.

By Arasu Kannagi Basil and Hannah Lang (Reuters) -Stablecoin issuer Circle Internet's shares more than doubled in their debut on the New York Stock Exchange on Thursday, firing up the IPO market that has struggled to regain momentum.