Ripple’s $11B Circle Bid Could Shatter Crypto Monopoly, Hoskinson Says

Hoskinson supports Ripple’s $11B bid for Circle, saying it could disrupt Coinbase-led crypto monopoly and boost competition.

Fridah Kangai
May 26, 2025
1:30 pm

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Hoskinson backs Ripple’s $11B bid to break the crypto monopoly.
Ripple challenges Coinbase-led ecosystem controlling listings and liquidity.
Circle’s IPO plans continue amid Ripple and Coinbase acquisition talks.

The announcement that Ripple aims to buy Circle has brought attention to the ongoing debate over too much market control in crypto. Hoskinson, the founder of Cardano, says that the acquisition could disturb the current system controlled by Coinbase, a16z, and Circle.

At a YouTube AMA session on Sunday, Hoskinson voiced his backing for the reported \$11 billion bid by Ripple to purchase Circle. He argued that because a strong alliance exists among leading players, new projects find it hard to access listings, liquidity, or stablecoin features.

In his words, the group is a space that only exists to benefit itself, and outsiders are banned. He believed that Ripple joining blockchain banking could create new forms of competition and enable fresh innovation. He also said that Ripple is better equipped to look after a stablecoin than the present team at Circle.

Previously, Bloomberg revealed that Circle refused Ripple’s $5 billion bid, saying it was unsatisfactory. Yet, Hoskinson was told that Ripple might be ready to increase their bid to $11 billion. Even though the deal has not been confirmed, Ripple and Coinbase are encouraging Circle to choose.

According to Fortune, Coinbase plans to acquire Circle and could benefit from years of existing ties. Circle has stated it remains committed to its public offering, which was filed at the start of April, even though it may not be moving forward now.

Ripple Move Seen as Challenge to Industry Power Bloc

There is an indication that Ripple wants to take on companies that control a large part of the industry. Hoskinson said that some groups in the crypto world are upset by big companies’ control over the market.

He pointed out that new leadership at Ripple may help break down large company monopolies in listings, liquidity, and stablecoin services. There is now more excitement in the XRP community, as many believe this will help the network become decentralized.

If the acquisition happens, it could change the existing structure in the crypto space. The fact that Hoskinson supports the call for balance in the ecosystem makes others pay more attention.

Also Read: Crypto Chaos: Milei Shuts Down $LIBRA Task Force Amid Fraud Allegations