Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange and Bakkt, has made an offer to acquire eBay, the e-commerce giant, which is apparently not working. However, the crypto community has speculated what this takeover means for crypto.
The Wall Street Journal said the acquisition bid values the company at more than $ 30 billion, compared to the current market capitalization of $ 29.7 billion. The report added that the ICE had approached the "Abe" site before, but the two giants are not in formal talks.
Intercontinental Xking followed that up with a statement immediately, saying it was approaching eBay "to explore a range of potential opportunities that might create value for shareholders in both companies", but "eBay did not engage in a meaningful way. We are not in negotiations about selling all or part of the site eBay ", the company concluded.
EBay shares jumped 13.6% after this report, while the ICE Index (with a market value of $ 51.5 billion) fell 7.47% last day.
The acquisition will be unexpected as ICE is known to handle financial services and eBay with consumer goods. However, what does this mean for the crypto world?
ICE will actually participate in the trading and storage of digital assets, as it is the parent company of the US bitcoin derivatives trading platform Bakkt. That is, it is certainly in the best interest of ICE to promote them and digital assets by any means possible.
(Financial Touches) wrote that the company could use eBay to build a "electronic currency trading platform", in the words of Brad Bailey, research director at Celent Capital Markets Consulting, who said: "There is no limit to the capabilities of derivative products and new data." The future of capital markets will be defined in new and effective ways to determine what the trading platform is and what is being traded, whether in bitcoin, home decor or tools. ”
Moreover, in times of geopolitical and economic instability, stock exchanges and institutional investors may wish to diversify their holdings. They may be asked to include cryptocurrencies by the legitimacy provided by these two giants, as well as the ICE successes.
Some online commentators are wondering what it would be like to have an option on eBay to pay with bitcoin, given that the platform has 183 million active buyers worldwide. However, others are concerned about the potential for centralization of encryption, as well as eBay's inability to adapt.