According to online reports, according to a conversation between Georgetown University law professor Chris Brummer and Ripple CEO Brad Garlinghouse, Ripple has never sought a deal to acquire Circle. Garlinghouse refuted recent media reports that Ripple had offered to acquire Circle for US$4 billion to US$5 billion. Bloomberg said Ripple had made an offer to Circle but was rejected because the price was too low. Coinbase, which has a long-standing relationship with the stablecoin issuer, also reportedly made a reverse offer. Chris Brummer said that if Ripple made more acquisitions after its recent year-long lawsuit with the U.S. Securities and Exchange Commission, it would target companies connected to the real world, such as "fiat currency entry ramps and payment processors." Circle plans to go public as early as this week, and its valuation has recently been raised to $7.2 billion under the ticker symbol CRCL. The company will sell 32 million Class A common shares at a price of $27 to $28 per share.