Reports said that Wall Street financial advisor that helped Amazon acquire MGM studios this year is exploring crypto payment options.
It has been reported that LionTree, a popular financial advisor and investment banking firm, is looking into cryptocurrencies as a payment option. In its year-end letter, Chairman and CEO Aryeh Bourkoff talks about crypto as a potential tool for empowering individuals and explores some of the biggest trends in crypto, such as decentralized finance (DeFi) and nonfungible tokens (NFTs).
Bourkoff wrote:
"In 2021, crypto made itself impossible to ignore, with a market cap at times surpassing $3 trillion."
Bourkoff added that this was because people with more cash than usual were looking for a place to guard their money against inflation, find higher returns, and ensure higher yields.
He also hinted about exploring crypto payment options for its services in the near future.
He wrote:
"We’re currently exploring ways to start accepting crypto as payment for our services, and in the not-so-distant future, as our ecosystem grows and our relationships continue to mature, we might even create our own LionTree token of trust."
However, Bourkoff also highlighted some of the flaws and hurdles that it needs to overcome while lauding the achievements and milestones of the crypto market in 2021. He said that the technology needs to be more energy-efficient, and the focus should be on building more user-friendly interfaces.
The report said that LionTree is comparatively a small firm in its size, but it has been involved in some of the most significant media partnerships and acquisitions this year. The firm played a key role in the merger of Warner Media with Discovery Inc.
Thus, the financial advisory group was also a part of Amazon’s acquisition of MGM Studios. LionTree also helped Snap Inc. with its Initial Public Offering.
Source: Cointelegraph
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