'Massive consolidation' expected across crypto industry
According to Bullish CEO Tom Farley, the crypto industry is about to undergo a period of massive consolidation and mergers. Many existing market players, he believes, will soon realize that they have only individual products, not full-fledged business models.
Farley made these conclusions based on observations of current trends in the crypto industry. He noted that many companies are now focused on creating 'cool' cryptocurrency services and solutions, but at the same time, they do not pay due attention to building holistic businesses.
The expert believes that now is the time for the industry to undergo a painful but necessary transformation. According to him, many players will realize that their 'products' are not actually a viable business, and will be forced to merge with stronger and more stable companies.
Such consolidation processes, according to the CEO of Bullish, will benefit the entire cryptocurrency market in the long run. Mergers and acquisitions will help weed out inefficient projects and leave only truly viable businesses capable of withstanding the volatility of the industry.