Major acquisitions by MoonPay and Empire Co. signal a continuing trend of market concentration as global energy prices and geopolitical instability threaten broader economic resilience.
The landscape of market competition shifted this week as several major industry players moved to absorb smaller competitors, further consolidating power in the financial technology and grocery sectors. These developments occur against a backdrop of significant global economic pressure, as Brent crude futures climbed to $111 per barrel following the rejection of an Iranian proposal to end the blockade of the Strait of Hormuz.
In the digital asset space, MoonPay announced a $100 million all-stock acquisition of the Israeli startup Sodot. The deal marks a significant expansion for MoonPay, which plans to leverage Sodot’s specialized key management technology to launch a new institutional division. Led by former CFTC acting chair Caroline D. Pham, the new entity aims to secure over $50 billion in transactions for major clients like eToro and BitGo. While the move promises enhanced security for institutional investors, it represents the absorption of a promising independent innovator into a dominant market platform.
Simultaneously, the grocery sector in Quebec is facing its own consolidation. Empire Co., the parent company of Sobeys, has reached an agreement to acquire Mayrand Food Group. Mayrand, a fixture in Montreal since 1914, operates large-format warehouse stores serving both households and foodservice operators. Empire’s entry into the discount warehouse segment through this acquisition expands its footprint in a market already dominated by a handful of major retailers. The deal is currently pending regulatory approval and is expected to close in early 2027.
North of the border, the financial sector also saw a historic first as Canada’s Minister of Finance approved the merger between Innovation Federal Credit Union and ABCU. This marks the first interprovincial credit union merger in the country’s history. Proponents argue such mergers are necessary for credit unions to compete with larger commercial banks, yet the trend reflects a broader move toward larger, centralized institutions at the expense of localized, independent financial cooperatives.
These mergers arrive as the global economy faces mounting headwinds. BNP Paribas recently identified $200-per-barrel oil as a potential catalyst for a global recession. In response to these rising pressures, the OPEC Fund launched the $1.5 billion Economic Stability, Trade and Resilience (E-STAR) initiative to support partner countries.
While no formal antitrust challenges have been filed against the MoonPay or Empire deals in the last 48 hours, the steady drumbeat of consolidation remains a concern for those advocating for a competitive free market. When large corporations absorb smaller innovators and regional staples, the long-term impact often includes reduced variety and increased barriers to entry for new entrepreneurs. As these conglomerates grow, the necessity for rigorous oversight of market power becomes increasingly vital to protect the interests of consumers and small business owners alike.
Greg Sanders serves as the Senior Correspondent for Corporate Power and Antitrust at Just Right News, where he brings a principled, conservative perspective to the complex intersection of big business, government regulation, and the American consumer. With a career dedicated to investigative depth and economic clarity, Greg has become a leading voice in examining how the consolidation of industry power impacts the foundational values of the free market and individual liberty.
Raised in Denver, Colorado, Greg’s reporting is deeply informed by the Western spirit of independence and a healthy skepticism of centralized authority. Growing up in the shadows of the Rockies, he witnessed firsthand the importance of local entrepreneurship and the vital role that small-medium enterprises play in sustaining vibrant communities. This upbringing instilled in him a belief that the American Dream is best preserved when the playing field remains level and when competition—rather than backroom deals between corporate lobbyists and federal regulators—dictates success. For Greg, the rugged individualism of his home state serves as a constant reminder that the economy should serve the people, not the other way around.
Now based in Chicago, Illinois, Greg operates from the heart of the nation’s industrial and financial crossroads. His location in the Midwest provides him with a unique vantage point to observe the real-world consequences of corporate overreach. From the boardrooms of the Loop to the manufacturing hubs that define the region, he tracks the movement of capital and the shifting tides of market influence. Chicago’s history as a center of trade and labor offers a rich backdrop for his work, allowing him to bridge the gap between high-level economic theory and the lived experiences of hardworking Americans who feel the squeeze of monopolistic practices.
At Just Right News, Greg’s beat focuses on the “new monopolies” and the rise of “woke” corporate culture. He argues that when corporations become too large, they often abandon their fiduciary duties to shareholders in favor of social engineering and political posturing. His reporting seeks to hold these “Titans” accountable, ensuring that the power of the purse is not used to silence dissent or bypass the democratic process. He is a firm advocate for the idea that true conservatism requires a vigilant defense of competition, preventing any single entity—public or private—from exerting undue control over the lives of citizens.
This mission is most clearly seen in his acclaimed feature series, “The Titans and the Toll.” In this ongoing project, Greg explores the human cost of market consolidation, from the erosion of consumer choice to the decline of local economies. Through rigorous analysis and boots-on-the-ground reporting, he documents how the concentration of power in sectors like tech, agriculture, and finance creates a “toll” paid by the average family.
Greg Sanders remains committed to the idea that a transparent, competitive market is the greatest engine for prosperity ever devised. Through his work at Just Right News, he continues to provide the essential oversight necessary to protect that engine from the encroaching influence of corporate giants and the bureaucratic structures that enable them.