Crypto may be in the midst of a crypto winter, but it certainly isn’t dead.
And those in the industry continue to consolidate power and make moves for the next run.
That means more acquisitions. And we’ve seen a couple big ones recently.
Let’s start with the Facebook.
Facebook made the news when it acquired Chainspace and its team.
Chainspace is a blockchain startup founded by researchers from the University College London.
They’re building a decentralized smart contract system that could facilitate payments and other services.
Its long been rumored Facebook may try to develop a stablecoin that can be used through its WhatsApp messaging app.
And it will roll out in India.
Obviously, Facebook getting into crypto would be huge news, even if you think Facebook sucks like I do.
The second recent major acquisition is by Kraken, the cryptocurrency exchange.
Kraken paid a reported $100 million plus for Crypto Facilities, a British trading firm that specializes in derivatives.
The Crypto Facilities acquisition means Kraken is the first crypto exchange to offer both spot and futures trading in currencies like Bitcoin, Ethereum, and XRP.
According to the reports Kraken has already integrated Crypto Facilities into Kraken, so users of both services can trade on a single platform.
The move will help Kraken get more exposure in Europe as well attract more institutional clients.
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