Bullish CEO Tom Farley predicts more consolidation in the crypto industry, citing recent market drops. Bitcoin is down 45% from its October high, trading at $69,405. Farley believes the industry should have consolidated earlier, as inflated valuations led to false optimism. This process may lead to mergers, layoffs, and internal disruption.

Eva Oberholzer from Ajna Capital notes VC firms are more selective with crypto projects due to market maturation. She states the industry has reached a new stage, similar to other tech cycles. Consolidation can lead to industry growth but also layoffs and redundancies. Investors are advised to verify information independently.

Read more at Cointelegraph: Crypto Industry Heading For ‘Massive Consolidation,’ Says Bullish CEO