![\"'Massive](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjYtMDIvMDE5YzNiNGUtMWRjMy03M2I1LWFiOWItNzhiMWQ1YzUzNmY3LmpwZw==.jpg\")
<\/p>\n<\/p>\n
The crypto industry is about to get a wakeup call, as many companies will realize “they don\u2019t have businesses, they have products,” says Bullish CEO Tom Farley.<\/p>\n
The crypto industry is likely to see more projects snapp<\/a>ed up by larger companies, which may lead to a much less fragmented sector in the months ahead, says Bullish CEO Tom Farley.<\/p>\n \u201cI was in the exchange sector during continual massive consolidation\u2026the same thing is going to happen starting right now in crypto,\u201d Farley said<\/a> during an interview on CNBC on Friday.<\/p>\n Farley, who served as president of the New York Stock Exchange (NYSE) until 2018, said the recent drop in the crypto market will be a key catalyst, with Bitcoin (BTC<\/a>) down nearly 45% from its October all-time high of $126,100 and trading at $69,405 at the time of publication, according<\/a> to CoinMarketCap<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n