Is a JPMorgan-ConsenSys Blockchain Merger in the Works?
Big intrigue as Reuters reports on a deal in the works
Hey there Blockfolians
Reuters is reporting that JPMorgan is in talks to spin out their premier blockchain unit Quorum with ConsenSys. There is still a ton of missing information: what will happen to Quorum’s 25 employees; what the financial terms are; and what the implications are for JPM’s broader blockchain efforts (although the report did say that its other related initiatives including their interbank payments network and its plans for a JPMorgan Coin would be unaffected).
Most folks in the industry aren’t reading the potential merger as either bullish or bearish, but instead simply trying to figure out everyone’s motivations and goals:
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Investor Jason Choi on the valuation of DeFi protocols compared to the total value locked in DeFi
A science fair project from an investor at LuneX ventures
A Really Big Number You Should Be Paying Attention To
That’s the size of President Trump’s new proposed 2021 budget, although the part that is most relevant for the crypto industry is a proposal to move the Secret Service - tasked with investigating financial crimes and protecting US currency - under the Treasury.
A Captain Kirk crypto podcast? We’d listen.