I’ve been trying to wrap my head around this one.
Facebook is worth around $577B currently. I couldn’t find any solid numbers for Coinbase, but I’m going to ballpark them at worth 1-2% of Facebook. Facebook could easily buy them.
Coinbase generated $1B in sales last year and even though the market is down, no one doubts that blockchain is the future (the doubt is weather everyone can become rich from crypto). Coinbase is the main onramp for fiat to crypto exchange in the U.S. This is a no brainer for Facebook to increase their revenues through a symbiotic relationship between their huge user base and growing interest in blockchain and cryptocurrency.
More people getting into crypto, crypto becomes more mainstream and accepted/legitimized–mass adoption!
Prices go up!
Prices go up short term, then prices become less volatile when enough money is invested in the crypto market.
Further consolidates and centralizes power and access to money in all forms.
Privacy can be further compromised through consolidation of personal and financial information of individuals.
What about decentralized exchanges?
Can they still have an impact?
Will they still be able to save us all from the tyranny that comes from large corporations/banks and governments controlling money?