According to MilkRoadDaily, Coinbase and Ripple are engaged in a rapidly escalating bidding war to acquire Circle, with Ripple's offer surging from $4-$5 billion in April to $9-$11 billion as of today (MilkRoadDaily, Twitter, May 20, 2025). This aggressive acquisition race highlights the strategic importance of Circle's USDC stablecoin infrastructure for both parties. For traders, this development signals potential volatility in USDC markets and could impact the competitive landscape of stablecoins and crypto exchanges. The outcome of this acquisition could drive significant shifts in liquidity, user retention, and integration between stablecoins and major crypto trading platforms.