The Biggest Acquisition in Crypto History

The Breakdown

Nathaniel Whittemore

Investing, Business

4.8 • 786 Ratings

🗓️ 24 October 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

NLW argues that Stripe's acquisition of Bridge reinforces that this cycle is all about the foundational significant of Bitcoin and Stablecoins. Unlocking Bitcoin DeFi with ExSat The exSat Network aims to unlock and scale the Bitcoin ecosystem without compromising Bitcoins Ideology. The network has partnered with the largest mining pools in the world, major custodians and exchanges, BitTrade, Cubolt, Matrixport, Everstake, OKX and aims to have over $200M TVL at mainnet launch on the 23rd of October. Follow exSat’s Twitter to stay up to date @exsatnetwork or visit the testnet exsat.network Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:18.4	What's going on, guys? It is Tuesday, October 22nd, and today we are talking about perhaps the biggest acquisition in crypto history.
0:26.4	Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord.
0:35.2	You can find a link in the show notes or go to bit.ly slash
0:37.5	breakdown pod. All right, friends, big news in the world of the future of finance, fintech
0:44.2	giant Stripe, one of the largest private companies in the world right now, has acquired
0:48.4	stablecoin infrastructure firm bridge for $1.1 billion. The acquisition is the largest in crypto history. It's also the largest
0:56.8	purchase in Stripes history, demonstrating their intention to double and triple down on stable
1:01.1	coins as the future of payments. In terms of what bridge is, they provide business-facing software
1:05.6	to help companies accept stable coin payments. The firm was last valued at $200 million during their
1:10.3	Series A, making this
1:11.5	a huge markup in a sizable exit for founders and investors. Notably, this is emblematic of
1:16.1	something bigger that's been happening at Stripe. Throughout the year, we've seen the company
1:19.6	accelerate their crypto strategy. In April, it started as a pledge to add crypto, which was a big
1:25.0	deal as Stripe had previously had crypto and then gone away from
1:27.7	crypto. But since then, the firm added integrations for at least three different stablecoins,
1:32.2	several different crypto assets, and a handful of different blockchains. They partnered with
1:36.0	Paxos on back-end infrastructure, and by all accounts, stablecoin payments are seeing
1:39.9	impressive early adoption. Stripe said that users across 70 countries use stablecoin payments on the
1:44.8	first day they were available. Patrick Collis and the CEO of Stripe made it clear exactly what the plan is,
1:49.8	tweeting, stablecoins are room temperature superconductors for financial services. Thanks to stablecoins,
	...

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