A similar question crossed my mind a few years ago, and I finally concluded that the ring perforce shatters. This is indeed a modified version of Ehrenfest paradox which can question the formal resolution to this anomaly for a rotating disc:
Any rigid object made from real materials that is rotating with a transverse velocity close to the speed of sound in the material must exceed the point of rupture due to centrifugal force, because centrifugal pressure can not exceed the shear modulus of material.
Because, contrary to a Born-rigid disc, we can always rotate a ring so that the centrifugal acceleration/force acting on the ring approaches zero, while its tangential speed approaches $c$ if, and only if, the ring's radius is large, while its angular velocity is small enough so that $v=r\omega\approx c$ and $a=r\omega^2\approx 0$. (For instance, assume $r=10^{20}\space m$ and $\omega \approx 3×10^{-12}\space$ $rad/s$.)
It is worth, too, reviewing the Wiki Talk Page of the mentioned Wiki article.