Quick take:
- Coin Metrics is one of the leading providers of both on-chain and off-chain data.
- Talos helps institutional firms, including hedge funds and asset managers, trade digital assets like Bitcoin and Ethereum.
- The acquisition comes at a time of increased consolidation in the digital asset space as companies look to position themselves for mainstream adoption.
Talos, a crypto trading infrastructure provider helping institutional firms like hedge funds and asset managers trade digital assets like Bitcoin, Ethereum, Ripple, Solana and others, has announced the acquisition of trading data provider Coin Metrics. The deal is valued at more than $100 million, according to the report by Fortune.
Talos cofounder and CEO Anton Katz told Fortune that the acquisition highlights the company’s ambition to become a one-stop shop for institutional players looking to get into digital asset trading and portfolio management.
Coin Metrics is one of the leading providers of both on-chain and off-chain data, which can be a resourceful platform for data-driven investing.
The acquisition comes at a time of increased consolidation in the digital asset space as companies look to position themselves for mainstream adoption.
Talos has been through the ‘thick and thin’ of the digital asset space, surviving industry meltdown triggered by the collapse of the then-leading exchange platform FTX and multiple crypto startups.
Having raised $40 million in a round led by Andreessen Horowitz (A16z) in 2021, Talos continued to attract investor funding in 2022, which it raised $105 million at $1.25 billion valuation. The company also boasts backing from the likes of PayPal, Fidelity, BNY and Citi, among others.
Talos’ sophisticated trading infrastructure leverages centralised exchange platforms like Coinbase and the decentralised exchange platform Uniswap for liquidity.
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