Whether or not it’s going to pick up Dharma, Coinbase has bought Bison Trails, Routefire and Tagomi. It’s printing money at a rate that it could clearly pick up more and has easy access to capital now that it’s on the public markets. It’s happening In other news, Lightyear, the for-profit company building on the Stellar protocol, picked up Chain.
When companies get big it becomes easier to acquire new business lines than start them. It’s become such a big part of Silicon Valley that the research firm CB Insights closely tracks acquisitions by the tech giants, such as Google, Apple and Amazon. The whole insight of the “startup” concept is that little companies are better than big ones at initiating ideas and then iterating on them until they work. I could be wrong; I’m probably wrong! But here’s what I’m not wrong about: Consolidations are coming fast and hard to the blockchain industry. Consolidation and centralization aren’t quite the same, but they have been known to sing in the same band and their harmony is pretty good.
Once they do, it’s easier for the big guns to write a check than copy (usually). We have already seen a certain amount of consolidation in crypto and more money and people will only accelerate it. This article is excerpted from The Node, CoinDesk’s daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full newsletter here.
The issuer of stablecoin TrueUSD has been purchased by … someone. And, oh yes, CoinDesk bought TradeBlock and our corporate parent, Digital Currency Group, bought the Luno Wallet. Kraken bought an exchange in Australia, Bit Trade, and Binance bought one in Indonesia, WazirX.
FTX brought in Blockfolio. Tendermint purchased B-Harvest.
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