火星财经消息，据 Cointelegraph 报道，USDC 稳定币发行商 Circle 正在计划进行首次公开募股(IPO)，同时也在与 Ripple 和 Coinbase 进行非正式谈判可能的收购事宜，Fortune 报道 Circle 寻求至少 50 亿美元的估值，这与其 IPO 目标一致。据悉，Ripple 此前曾于 4 月 30 日提出 40 亿至 50 亿美元的收购要约，但被 Circle 拒绝认为估值过低。如收购达成，Ripple 将通过现金和 XRP 支付，而 Coinbase 则可能使用现金和股票。Coinbase 与 Circle 自 2018 年起已有合作关系，共同创立了 Centre Consortium 以制定稳定币标准。Circle 原计划在 2024 年 4 月完成 IPO，但因经济不确定性可能推迟。

<div>火星财经消息，据 Cointelegraph 报道，USDC 稳定币发行商 Circle 正在计划进行首次公开募股(IPO)，同时也在与 Ripple 和 Coinbase 进行非正式谈判可能的收购事宜，Fortune 报道 Circle 寻求至少 50 亿美元的估值，这与其 IPO 目标一致。据悉，Ripple 此前曾于 4 月 30 日提出 40 亿至 50 亿美元的收购要约，但被 Circle 拒绝认为估值过低。如收购达成，Ripple 将通过现金和 XRP 支付，而 Coinbase 则可能使用现金和股票。Coinbase 与 Circle 自 2018 年起已有合作关系，共同创立了 Centre Consortium 以制定稳定币标准。Circle 原计划在 2024 年 4 月完成 IPO，但因经济不确定性可能推迟。</div>

Circle 考虑 IPO 或以 50 亿美元出售给 Ripple、Coinbase

According to Mars Finance and Cointelegraph, <Circle>, the issuer of <USDC> stablecoin, is planning an initial public offering (IPO) and engaging in informal acquisition talks with <Ripple> and <Coinbase>. Fortune reports that <Circle> seeks a valuation of at least $5 billion, which aligns with its IPO goals. <Ripple> reportedly proposed an acquisition offer of $4 billion to $5 billion on April 30, which <Circle> rejected as undervalued. If the acquisition is reached, <Ripple> would pay using cash and <XRP>, while <Coinbase> might use cash and stock. <Coinbase> and <Circle> have had a collaborative relationship since 2018, jointly establishing the Centre Consortium to establish stablecoin standards. <Circle> originally planned to complete its IPO in April 2024 but may delay it due to economic uncertainty.

<div>Mars Finance News: According to Cointelegraph, USDC stablecoin issuer Circle is planning an initial public offering (IPO) and is engaged in informal acquisition talks with Ripple and Coinbase. Fortune reported that Circle is seeking a valuation of at least $5 billion, which aligns with its IPO goals. It is understood that Ripple previously proposed an acquisition offer of $4 billion to $5 billion on April 30, which Circle rejected as undervalued. If the acquisition is reached, Ripple would pay using cash and XRP, while Coinbase might use cash and stock. Coinbase and Circle have had a collaborative relationship since 2018, jointly establishing the Centre Consortium to set stablecoin standards. Circle originally planned to complete its IPO in April 2024, but economic uncertainty may cause a delay.</div>

Circle Considers IPO or $5 Billion Sale to Ripple, Coinbase

Market analysis shows that since November 21st, the daily RSI has remained below the 50 midline. Currently, observing the daily RSI, we see potential for it to break through the 50 midline.
Key points:
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Bullish signal: If the RSI successfully breaks through the 50 midline, this will be a worthwhile opportunity to long.
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Double resonance: At the current position, breaking through the 50 midline also inevitably means that the price will break through the daily-level descending moving average.
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Trend reversal: A double breakout signifies both a reversal in trading volume and a breakout in the trend, which, from a technical perspective, is extremely...

Shill| BTC Thread

A quick overview of institutional and trader opinions on the market outlook.

Is Bitcoin about to choose a direction?

Chapter 1: Executive Summary and Industry Landscape Analysis
As of December 19, 2025, the global digital asset mining sector is undergoing the most profound structural transformation since the birth of Bitcoin. With Bitcoin's price retreating to the $86,000 range after reaching an all-time high of approximately $125,000 in October 2025, and the total network hashrate surpassing the 1,000 EH/s mark, mining companies face the dual challenges of compressed profit margins and surging capital expenditures in the "post-halving era."

1.1 Industry Differentiation

Figure 1: Analysis of the Relationship between Hashrate and Market Capitalization of Major Mining Companies in 2025

The above figure clearly shows the current...