Major consolidations in the crypto space
As a new Crypto/NFT enthusiast, there are 2 big moves that caught my attention this week yet left me puzzled…
Crypto exchange Binance made a $200m investment in Forbes in Forbes media less than two years after after Binance and Forbes hit a rough patch on ‘regulatory’ concerns. The move is reportedly keeping Binance as a minority stakeholder yet they will be the largest stakeholders in the media. Both companies referred to the deal helping to bring about a wider understanding of the subject of cryptocurrencies and blockchain, the technology that registers crypto transactions.
Forbes, which published its first issue in 1917, is renowned for its billionaires list, whose constituents include the Binance chief executive and founder, Changpeng Zhao, whose wealth is estimated at $1.9bn by the magazine.
On a similar move, Fidelity National Information Services, known as FIS teamed up with Crypto.com to accelerate both company expansions plans and increase the crypto accessibility to a mainstream audience. The crypto platform will leverage Worldpay as a blockchain validator and will utilize the company’s payment gateway and global acquiring services to support continued global expansion. Worldpay will process card-based purchases and sales of cryptocurrencies for Crypto.com.
These two big moves got me to wonder:
a) if Forbes, as a trusted media, can remain independent in their coverage, yet help accelerate the crypto adoption?
b) or is FIS/Worldpay as a payment enabler are in fact better placed to enable the shift?
A development that will most likely takes time to show its dividends.
