Ripple's $5 Billion Offer, Quantum Threat to Crypto, XRP's 5,438% Liquidation Surge

Ripple's $5 Billion Offer to Buy Circle Rejected

Ripple recently made a $4-5 billion acquisition offer to buy Circle, the issuer of USDC, but was rejected. Circle believes the offer undervalues the company, especially as it prepares for a U.S. IPO. Despite the rejection, Ripple remains interested in acquiring its stablecoin competitor. Meanwhile, Circle is focused on its IPO and has not commented on the rumors. This comes after Ripple's $1.25 billion purchase of Hidden Road, one of the largest crypto deals in history.

Quantum Computing Poses Major Threat to Bitcoin and Crypto

Alex Thorn, head of research at Galaxy Digital, warns that quantum computing poses a significant threat to Bitcoin and other cryptocurrencies. He notes that current solutions to mitigate this risk may be insufficient. Thorn emphasizes that all cryptocurrencies relying on public key cryptography are vulnerable, with no clear timeline for when a quantum attack might occur. The warning comes amid Microsoft's release of the Majorana 1 chip, a breakthrough in quantum computing.

XRP Sees Unprecedented 5,438% Liquidation Surge

XRP experienced a dramatic liquidation imbalance, with long positions accounting for 98% of $7.64 million in liquidations. This occurred as XRP's price dropped from $2.20 to $2.16, triggering leveraged long liquidations. The crypto market saw over $374 million in liquidations within 24 hours, with Bitcoin and Ethereum also facing significant losses. XRP's situation stands out due to the extreme imbalance between long and short liquidations.