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Bullish CEO Tom Farley assessed the future outlook of the cryptocurrency sector., 2026/02/09 11:15:51
The CEO of Bullish, Tom Farley, stated in an interview with CNBC that the cryptocurrency industry is poised for consolidation in the near future, during which larger players will begin to acquire smaller firms.
He indicated that in the short term, many crypto projects will face the realization that they lack a sustainable business model and only possess a product. Consequently, the market will become significantly less fragmented.
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Farley noted that he has already witnessed similar trends during his tenure in the exchange sector, where consolidation was a constant and extensive phenomenon. In his view, a comparable scenario is now unfolding within the cryptocurrency industry.
He also suggested that the ongoing decline in the digital asset market could serve as an additional catalyst for consolidation. According to Farley, mergers and acquisitions should have commenced earlier, but excessive optimism among market participants hindered this process.
However, consolidation may yield contradictory outcomes. On one hand, stronger companies will have the opportunity to absorb inefficient projects. On the other hand, this process could lead to widespread layoffs and disruptions in infrastructure during the mergers and closures of businesses.
Previously, the American cryptocurrency exchange Gemini announced its exit from the markets of the European Union, the United Kingdom, and Australia, as well as a 25% reduction in its workforce.
