Stripe acquires stablecoin platform Bridge for $1.1 billion, the largest acquisition in the crypto space

Michael Arrington, founder of TechCrunch, wrote on X that payment company Stripe acquired the stablecoin platform Bridge for $1.1 billion. Bridge is Stripe's largest acquisition to date and the largest acquisition in the history of the crypto industry. Bridge had previously raised $58 million, including a $40 million Series A round at a valuation of $200 million. Bridge was founded by entrepreneurs Sean Yu and Zach Abrams and provides software tools to help businesses accept stablecoin payments. The two founders previously sold Venmo's competitor Evenly to Block in 2013; Abrams is also a former senior employee of Coinbase. (The Block)