Stripe In Talks To Acquire Bridge For $1 Billion (techcrunch.com) 29
An anonymous reader quotes a report from TechCrunch: Stripe is in talks to acquire stablecoin platform Bridge for a whopping $1 billion, according to Forbes (paypalled). The talks are reportedly in advanced stages, although nothing has been finalized. Bridge, co-founded by Coinbase alumni Zach Abrams and Sean Yu, has built an API that helps companies accept stablecoins. The pair raised $58 million from investors like Index Ventures and Sequoia Capital, according to PitchBook. If the deal with Stripe goes through, it would be a huge jump from Bridge's $200 million valuation, as well as being Stripe's largest acquisition to date.
Wait, buying it with USD? (Score:3)
Why aren't they buying it with crypto?
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Forgers rarely accept payment in counterfeit money.
Why would they sell it for real money? (Score:4, Interesting)
I suppose the buyer wasn't prepared to part with any precious cryptocoins so the seller will have to accept worthless dollars instead. They really should have offered something more valuable than the company e.g. an NFT of the company.
Re: Why would they sell it for real money? (Score:2)
Theyâ(TM)re not really buying it with dollars either. You think they are getting a duffle bag of money? Stripe is valued at $65B but they do not have $65B, they do not even have the $1B in liquid assets. This will likely be a tender offer where you basically have investors buying out the stock. All this money is just on paper, not real value (you canâ(TM)t convert the billion dollars without tanking your own stocks).
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All this money is just on paper, not real value (you can’t convert the billion dollars without tanking your own stocks).
Lets say that last part again. A slightly different way.
The bank tells me every day I’m a billionaire. Except on the day I actually try and prove it by making the withdrawal. They tell me if I do, it’s suddenly worthless. Money I can set on fire and burn.
With “value” and “wealth” being defined like that in society, we wonder how we perpetually turn investing into a house of cards. Every damn time.
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This is financial illiteracy on display. You do not understand what money is, you do not understand what wealth is, and you have an imaginary concept of "value and wealth" that matches nothing that exists in reality.
What actually happens is that there is a concept of "wealth" that is partly objective and partly subjective. For example if you own a car, the objective part of wealth formation that car enables is that you have a car that can be used to transport people and things in certain amounts for certain
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The best financial wisdom I ever received was when my father reminded me that anything in this world is only as valuable as someone is willing to pay for it.
If you wish to see what financial illiteracy looks like, it’s the next stock market crash no one will see coming, but everyone expects. Let’s stop pretending any current explanation of value or wealth resembles sane objectiveness. History didn’t have quite the fiscal stupidity of today. Failure is now “too big” to fail
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You seem to be interchanging wealth and value in your post above.
Most of the time, you it assume you mean value.
Wealth is an abundance of valuable possessions, ressources or money.
Value is the estimation of worth of something.
Value is always and everywhere, subjective.
Money is not trust, but it does take trust, unless its Bitcoin, then its trustless and verifiable because its a protocol that no one controls.
But what money actually is, is a ledger. Instead of writting down on a tablet, in a book or a spreads
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You seem to be interchanging wealth and value in your post above. Most of the time, you it assume you mean value.
Wealth is an abundance of valuable possessions, ressources or money.
Value is the estimation of worth of something.
You seem to be unable to define wealth without referencing value. Regardless, we’ve made a mockery of both concepts in modern times. You can assume you have wealth by obtaining possessions..until you find you have no actual wealth because the “valued” possessions turn out to be worthless (NFTs is a prime example). Most of the world’s “richest” have defined wealth with assumed value in a market we have crashed many times over. How real is their wealth or our concept of
Re: Why would they sell it for real money? (Score:2)
You seem to understand there is a problem.
And can point to the symptoms.
I am afraid you don't quite have a grasp on the mechanism of what the problem.is and why.
I would suggest reading Broken Money by Lyn Alden. I assure you it will be worth your time. Clarify the problem and may guide you on how to hedge against it and protect your saving.
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You seem to understand there is a problem. And can point to the symptoms. I am afraid you don't quite have a grasp on the mechanism of what the problem.is and why.
I would suggest reading Broken Money by Lyn Alden. I assure you it will be worth your time. Clarify the problem and may guide you on how to hedge against it and protect your saving.
Since I am an older human seasoned with decades of weathered experience, I feel do have a decent grasp on the problem. It’s called the Disease of Greed. Mankind hasn’t found a cure in thousands of years, so I highly doubt we’ll find one soon. We’ll most likely extinct ourselves on this dying rock, forever addicted to it. We keep digging deeper into the sands of time, and we might just find enough evidence we were stupid enough as a species to have damn near done it before. More th
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I have a feeling you would understand more than most, what is detailled in Broken Money.
Its about changing the incentives, to prevent the outcomes you describe.
A system where its simply not possible to print money to wage war.
But also, a description of what money is, throughout history and how it has been especially corrupted in the last few hundred years, more than it was in the past.
What has lead us to the issues we have today.
Cheers.
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That is correct, unless the bank has a real value such as gold bullion that you can trade for other services, your money is just a number on a piece of paper. That's why the government since abandoning the gold standard can promise you a million dollars just so you'll vote for them, they can just transfer digits in your bank account and lift everyone out of poverty tomorrow by just chunking a few trillions into the economy, however that would tank the value of said economy.
This is why banks are heavily inve
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Even stocks, fiat currencies and real estate are inflated and overvalued because of money not being sound.
Its all about to change within the next few decades. Its already begun.
But the sky is always darker before sunrise.
Well. (Score:5, Funny)
I have a Bridge to sell to you...
Is it (Score:3)
the one in Brooklyn? I hope not, cause I was promised a good deal on it.
Pets.com (Score:3)
Must we do this fandango? (Score:2)
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Acquiring bridge? (Score:2)
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They'll paint stripes on it.
The Company Company, Inc. (Score:1)
Stripe. Bridge. “Index” Ventures. “Pitch”Book.
OK, I know. Quite off topic, but is it just me, or did creativity jump out the fucking window after the Verizon branding group dispersed?
Thats some stable marketing alright. Namesakes about as exciting as caffeine-free unflavored Mountain Dew.
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Namesakes about as exciting as caffeine-free unflavored Mountain Dew.
About as nauseating too.
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Also most of the good names are taken, eventually there won't be an original sounding name remaining for use. It's like IPv4 or stock symbols
Is this the same Stripe... (Score:3)
... that is refusing to pass on cost savings from a regulatory mandate in Canada to reduce Visa and Mastercard fees charged by those CC's to merchants?
Article here: Lower Visa and Mastercard fees for small business start this week, but Stripe plans to ignore Ottawa and keep the savings for itself [cfib-fcei.ca]
Someone might want to bring this up with whatever regulatory authority in the USA that oversees large-scale mergers/acquisitions, because "flaunting the law" isn't a good look.
slow editing day. (Score:2)
"paypalled"