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The Stripe logo on a smartphone with U.S. dollar banknotes in the background.

Budrul Chukrut | SOPA Images | LightRocket via Getty Images

In March 2022, venture capitalist Chris Ahn was pushing to get into a hot crypto startup that was trying to make it easy for businesses to transact using digital currencies.

The company was Bridge Network. As part of his pitch, Ahn flew to a small town in northern Montana with a term sheet in hand for founders Zach Abrams and Sean Yu, who had both previously worked at Coinbase and Block.

“Nobody else had flown out to see them in person,” Ahn, who was a partner at Index Ventures at the time, recounted in an interview on Tuesday.

The three of them hiked together on a path with melting snow, and then conversed over drinks and dinner, as Ahn aimed to convince the founding duo that they should take Index’s money. At the restaurant, he looked to seal the deal.

“I told them I was going to the bathroom, and I ran over to my car, grabbed the term sheet and came back,” Ahn said. “It’s hard to fit a piece of paper in a jacket without crumbling it, and I didn’t want to give them a crumpled piece of paper, so I left it in the car.”

Index landed the investment, getting into Bridge’s seed round in 2022. The firm was part of a more recent round, in August of this year, that included Sequoia and Ribbit Capital and valued Bridge at about $350 million, according to a person with knowledge of the matter who asked not to be named because the valuation was confidential. Also in the deal was Haun Ventures, founded by former Andreessen Horowitz partner Katie Haun.

Ahn left Index to join Haun in 2022. Both his old firm and his new employer have reason to celebrate this week, after Stripe agreed to buy Bridge for $1.1 billion. With that outcome, Index and Haun are poised to triple their investment in a matter of months.

Stripe Co-Founder John Collison on AI enthusiasm in a new interest rate environment

An Index spokesperson declined to comment.

It’s a particularly notable exit for venture investors during an extended IPO drought, and marks a big win for crypto, which has had few of them despite bundles of cash pouring into the industry.

For Stripe, one of the most richly valued tech startups, the Bridge purchase will be its largest to date. Bridge said the transaction is still subject to regulatory approvals and other conditions and is expected to close in the coming months.

‘Serious about stablecoin’

Bridge describes itself as the Stripe of crypto, specializing in making it easier for businesses to accept stablecoin payments without having to directly deal in digital tokens. Stablecoins are a type of cryptocurrency whose value is pegged to the value of a real-world asset like the U.S. dollar. Customers include Coinbase and SpaceX.

“It’s a sign that Stripe is serious about stablecoins and crypto,” Ahn said. “Payments were the original use case for crypto, and it’s finally here.”

Stripe is paying a hefty premium.

Investors familiar with Bridge’s financials said annual revenue is in the range of $10 million to $15 million. At the low end of the range, that’s a multiple of 110 times revenue, and at the high end, it’s a revenue multiple of over 70.

“The reason why Bridge is so valuable is because it’s prohibitively difficult for a company to use this new stablecoin tech without developer tools that makes the tech easy to use,” said Ahn.

Nic Carter of Castle Island Ventures said that while Bridge has rivals in the category, it’s the most successful stablecoin infrastructure business in the world, excluding the issuers like Circle and Tether.

“Almost every stablecoin startup we talk to is building on Bridge in some capacity whether it’s orchestration or issuance,” said Carter. “They are totally ubiquitous.”

Stripe saw its valuation plummet from $95 billion in 2021 to $50 billion last year, as private tech companies across the board took a major hit from the recalibration of the public markets. Its valuation reportedly rebounded to $70 billion this year as part of a secondary share sale.

Patrick Collison, chief executive officer and co-founder of Stripe Inc., left, smiles as John Collison, president and co-founder of Stripe Inc., speaks during a Bloomberg Studio 1.0 television interview in San Francisco, California, U.S., on Friday, March 23, 2018. 

Bloomberg | Bloomberg | Getty Images

Brothers Patrick and John Collison, who founded Stripe in 2010, have intentionally steered clear of the IPO process and have given no indication that an offering is on the near-term horizon. They’ve got a big business, with total payment volume surpassing $1 trillion in 2023.

Given private market demand for the company’s stock, the company has been able to offer some liquidity to early investors and employees in other ways.

“The private markets have been so generous with providing capital and secondary liquidity to shareholders that, if I’m the Collison brothers and I’m sitting around the table, I’m thinking, ‘Why do I want to go public?'” said David Golden, a partner at Revolution Ventures who previously led JPMorgan Chase’s tech investment banking practice. “Why bother if the private markets are willing to reward you with basically public market premiums and valuations and let you have secondary sales to keep your employees happy?”

When asked to comment, Stripe referred CNBC to CEO Patrick Collison’s post on X about the deal.

Collison called stablecoins “room-temperature superconductors for financial services” in his post, and said that Stripe is going to build the world’s best stablecoin infrastructure. 

Bernstein analysts are bullish on what the deal means for the $160 billion U.S. dollar-pegged stablecoin market, noting in a report that the acquisition “validates the usage and growth of stablecoins as a legit use case for public blockchains.”

WATCH: Ripple’s XRP drops as Chris Larsen reveals $10 million donation to Harris campaign

Ripple's XRP drops as Chris Larsen reveals $10 million donation to Harris campaign: CNBC Crypto World

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EcoFlow Early Prime Day Sale increases power station discounts up to 65% with free gifts, bonus + bulk savings all from $169, and much more

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2 hours ago

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September 22, 2025

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EcoFlow Early Prime Day Sale increases power station discounts up to 65% with free gifts, bonus + bulk savings all from 9, and much more

This week’s Green Deals are kicking off with EcoFlow’s Early Prime Day Sale that is running right up to the official event with increased 65% discounts on power stations, as well as bonus sitewide savings, bulk savings, free gifts, and more starting from $169. Among the large lineup, we did spot the brand’s DELTA 2 Portable Power Station bundled with an extra battery and two 110W solar panels at a new $892 low. Behind that event, we also have BougeRV’s two different 2-Bike Mountable Carriers (which are e-bike compatible) for SUVs and trucks starting from a new $180 low, as well as a one-day-only sale on Anker’s SOLIX C300X DC 90,000mAh Power Station with a 60W foldable panel at $236 – plus, so much more waiting for you below. And don’t forget about all the hangover deals from last week collected at the bottom of the page, rounded together within our most recent edition of Electrified Weekly.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

EcoFlow’s Early Prime Day Sale increases power station discounts up to 65% with bonus savings, free gifts, and more from $169

EcoFlow has launched its Early Prime Day Sale through October 6, which is increasing discounts on power stations up to 65% off, complete with bonus sitewide savings, free gifts at certain pricing thresholds, and even additional bulk savings when buying five or more items. Among the lineup, there is a direct-sale-only offer on the DELTA 2 Portable Power Station bundled with a smart extra battery and two 110W solar panels for $892.05 shipped, after using the sitewide code 25PDFAFF at checkout for an additional 5% savings. This bundle would normally run you $2,646 at full price, and would currently cost you $1,379 buying the power station/battery bundle with two 110W panels separately at Amazon. We’ve seen this kit dropped down to $999 in direct sales before this event, with the $1,754 markdown here dropping things to a new all-time low price. Head below to get the rundown on all the extra ways to save and the full lineup of deals.

As expected, EcoFlow’s Early Prime Day Sale is bringing along plenty of bonus savings promotions while it lasts, including the 5% sitewide bonus discount you can score on any order using the code 25PDFAFF at checkout. There are also three gift with purchase options, with orders reaching $500 getting a free 45W portable solar panel, while orders reaching $1,500 get a free 220W panel and orders of $3,000 or more get a free 400W panel. There’s also the bulk savings with an extra 7% savings being given to orders of five to 10 pieces, an extra 9% savings on orders with 11 to 20 pieces, and an extra 10% savings on bulk orders of 20 or more pieces.

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EcoFlow’s DELTA 2 portable power station is a great well-rounded option for your off-grid living needs, as well as your at-home emergency backup, and with the extra battery included in the bundle, you’ll be starting with a doubled 2,048Wh LiFePO4 capacity that can bump up further to 3,072Wh with one additional battery. You’ll be getting a steady 1,800W of power through the 15 ports present here, surging up to 2,200W when needed. It’s been constructed with an IP68 waterproof rating to handle your outdoor adventures and the weather you may come across, and offers the usual array of in-app smart controls.

Seeing as you’re getting the 220W of solar panels with the bundle, you’re nearly halfway to its max 500W solar input that can put the battery back to full in three to six hours. There’s also the option to recharge from a standard AC outlet to 80% capacity in 50 minutes, or wait for 80 minutes for it to get back to full, with a car port available to plug into your car’s auxiliary cigarette lighter port for on-the-go charging too.

***Note: None of the prices below have had the extra savings factored in and currently represent the starting price listed on the brand’s direct site. Be sure to use the sitewide promo code 25PDFAFF at checkout for the best deals, with the other discounts/gifts automatically applied upon hitting their thresholds.

EcoFlow’s Early Prime Day Sale member-only deals:

EcoFlow’s Early Prime Day Sale outdoor power solutions:

EcoFlow’s Early Prime Day Sale home backup solutions:

EcoFlow’s Early Prime Day Sale solar panel deals:

EcoFlow’s other Early Prime Day Sale accessory deals:

You can also shop the entire EcoFlow Early Prime Day Sale in our original coverage here.

BougeRV bike rack attached to SUV

These BougeRV 2-bike mountable carriers for SUVs/trucks carry up to 200 pounds starting from a new $180 low

Amazon is now offering the BougeRV Lockable Hitch Mount 2-Bike Carrier for SUVs & Trucks, which comes e-bike compatible at $179.99 shipped. It’s coming down from its usual $260 listing price here, which we’ve only seen drop as low as $200 with previous deals. You’re looking at a 31% markdown that cuts $80 from the tag to land at a new all-time low price. You’ll also find the more heavy-duty variant with a higher payload at $379.99 shipped, after clipping the on-page coupon.

If you want to learn more about these two e-bike compatible racks, be sure to check out our original coverage of these deals here.

woman charging tablet with Anker SOLIX C300X DC power station bundle in wilderness

Equip your travels with Anker’s SOLIX C300X DC 90,000mAh power station and a 60W solar panel at $236 (Today only)

As part of its Deals of the Day, Best Buy is offering the Anker SOLIX C300X DC 90,000mAh Portable Power Station with a 60W solar panel at $235.99 shipped. We’ve been seeing this combo bundle pop up every two to four weeks over the last few months, dropping from its usual $330 price tag, with it coming in $1 lower than the previous one-day sales. You’ll only find its grey variant sitting at higher rates at Amazon (currently $250) and Anker’s direct website (currently $270), with discounts on those alternate colorways having mostly dropped costs to $250 and had fallen as low as $220 in February. For the rest of the day only, you can pick up this solar generator bundle at the third-best price of 2025 and the fourth-lowest overall, which sits $46 above the all-time low that last appeared during Black Friday.

If you want to learn more about this compact solar generator bundle, be sure to check out our original coverage of this one-day-only sale here.

man sitting on Rad Power's RadRunner Cargo Utility e-bike
man using Autel's Home 3000 power station to power phone, laptop, lamp

Best Fall EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.


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The Lucid Gravity SUV looks sold out just a day after inventory was listed online

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2 hours ago

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September 22, 2025

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The Lucid Gravity SUV looks sold out just a day after inventory was listed online

Lucid-Gravity-inventory-sold-out

Did Lucid sell out of Gravity inventory online? Just a day after the inventory was listed online, the Lucid Gravity appears to be sold out.

Lucid Gravity inventory appears sold out online

Lucid said it expected higher output of the Gravity electric SUV in the second half of the year. After listing Gravity inventory on its website on September 19, a few users on X suggested it was due to a lack of demand.

Nick Twork, Lucid’s global communications chief, clarified that the new listing “is not a demand related development.”

Twork explained that “While we have been building Lucid Gravity vehicles to order to satisfy existing customer orders, we’ve produced a small number of configurations based on component availability, ensuring we didn’t lose production slots when parts were constrained.”

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In other words, “you can now skip the wait and drive away in one of our most sought-after models today,” Twork added. In less than 24 hours, Gravity inventory appeared to be sold out online already.

Lucid-Gravity-inventory-sold-out
Lucid Gravity inventory online (Source: Lucidmotors.com)

In a quick turn of events, by Sunday night, there were zero Lucid Gravity models listed available through inventory. Through mid-Monday, Lucid’s website still shows “There are no vehicles available at the moment” when searching for Gravity models.

On the company’s Q2 earnings call, interim CEO Marc Winterhoff told investors and analysts that Lucid expected a significant ramp-up in Gravity production after overcoming supply chain issues.

Lucid-Gravity-inventory-sold-out
Lucid Gravity Grand Touring (Source: Lucid)

Winterhoff said the company expected the Gravity SUV to account for the majority of production and deliveries in the second half of the year.

“Our daily order rate has nearly doubled,” since introducing Gravity models to its studios while offering test drivers, Winterhoff said.

Lucid-Gravity-SUV
The Lucid Gravity debuts in Europe (Source: Lucid)

Lucid currently offers the Gravity Grand Touring model, starting at $94,900. Soon, it will add the lower-priced Touring trim, starting from $81,550.

Orders for the Gravity Grand Touring also opened in Europe earlier this month, with deliveries set to begin in early 2026. The Lucid Gravity Touring starts at 116,900 euros ($137,000) in Germany, including VAT. Lucid will introduce the Gravity Touring in Germany, priced from 99,900 euros ($117,000).


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Judge allows Orsted to resume construction on wind farm blocked by Trump administration

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3 hours ago

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September 22, 2025

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Judge allows Orsted to resume construction on wind farm blocked by Trump administration

Attendees during a media tour of the Revolution Wind construction hub at the Port of Providence in Providence, Rhode Island, US, on Thursday, June 13, 2024.

Adam Glanzman | Bloomberg | Getty Images

A federal judge on Monday allowed Danish renewable energy company Orsted to resume construction on an offshore wind farm that the Trump administration had blocked.

The judge’s decision is a setback for President Donald Trump’s effort to shut down the nascent offshore wind industry in the U.S.

The Interior Department had ordered Orsted on Aug. 22 to halt construction on Revolution Wind off the coast of Rhode Island and Connecticut. The project is fully permited and 80% complete. It would provide power for more than 350,000 homes.

Orsted and its partner Skyborn had asked the United States District Court for the District of Columbia to halt Interior’s stop-work order, arguing that it was aribtrary, capricious, unlawful and “issued in bad faith.”

While the judge granted the injuction request, a full opinion has yet to be filed.

Trump has targeted the wind power industry since his first day in office, when he banned new leases for offshore wind farms. But the industry had hoped that fully permitted wind projects, particularly those that are already under construciton, would be allowed to proceed.

Interior Secretary Doug Burgum said earlier this month that he is “taking a deep look” at five offshore wind projects in the U.S. that are under construction. Burgum made clear that Trump wants to shut down the offshore wind industry.

“Under this administration, there is not a future for offshore wind because it is too expensive and not reliable enough,” Burgum told an audience at the Gastech conference in Milan, Italy on Sept. 11.

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