Crypto Biz: Consolidation ramps up among crypto firms
This week’s Crypto Biz examines recent acquisitions in the crypto industry, Tether’s plans for a dirham stablecoin, and Polychain’s investment in the Bitcoin protocol Corn.
The crypto industry has seen increased consolidation in the past week as companies refine their strategies in anticipation of the growing adoption of blockchain-based solutions.
Asset manager Bitwise, for instance, has stepped into the European market with the acquisition of ETC Group. Meanwhile, crypto miner Bitfarms has announced a $125 million deal to purchase Stronghold Digital Mining at a considerable premium.
Deals have also been taking place among crypto startups, particularly those working at the intersection of blockchain and artificial intelligence. PIP Labs, for example, announced an $80 million funding round on Aug. 21 for the tokenization of intellectual property, bringing the startup’s valuation to $2.25 billion, according to Bloomberg.
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Author: Ana Paula Pereira
