JPMorgan in talks to merge blockchain unit Quorum with startup ConsenSys
Reuters reported right now that JP Morgan is in discussions to merge its blockchain unit Quorum with Consensys. The deal is probably going to be introduced inside the subsequent six months in accordance to sources. JPMorgan has been contemplating spinning off Quorum for round two years.
Why it issues:
Since April of final yr, Consensys has sought up to $200 million in funding to transfer past being self-funded by founder Joe Lubin. A deal with JP Morgan would possible contain Quorum merging into Consensys with JP Morgan injecting some capital into the mixed entity.
The information comes only a week after Consensys revealed its second restructuring, shedding 14% of its staff and simplifying its enterprise into software program and funding arms