Talos, a cryptocurrency infrastructure firm backed by major investors, has announced the acquisition of blockchain data provider Coin Metrics in a deal valued at over $100 million. This agreement underscores Talos’s ambitions in the digital asset space.
Deal Details
The deal between Talos and Coin Metrics was finalized after four months of negotiations. Talos did not raise new capital to fund the agreement. “This is the next evolution for us,” stated CEO Anton Katz.
Talos's Position in the Crypto Industry
Founded in 2018, Talos provides trading infrastructure for both centralized and decentralized platforms. It was last valued at $1.25 billion after a 2022 funding round. Coin Metrics, based in Boston, brings historical and on-chain data, deemed essential for institutional clients.
M&A Market in the Crypto Industry
The Talos deal with Coin Metrics comes amid accelerated M&A activity in the cryptocurrency sector. This year alone, Coinbase acquired Deribit for a record $2.9 billion, and Kraken took over NinjaTrader for $1.5 billion. Talos has also been active, acquiring platforms like D3X Systems and the risk firm Cloudwall.
The acquisition of Coin Metrics enhances Talos's capabilities in providing services to institutional clients and solidifies its position in the growing digital asset market.
