Talos Acquires Coin Metrics as Cryptocurrency M&A Activity Increases

Simply put

• Trading platform Talos is acquiring coin metrics from data companies.
• Details regarding the transaction size have not been revealed by Talos.
• This year has seen numerous large crypto firms making acquisitions.

According to a press release from Wednesday, Talos, which specializes in institutional trading technology, is buying coin metrics to broaden its offerings for institutional clients. This acquisition will be a new entry in the ongoing trend of crypto mergers and acquisitions this year.

A Talos spokesperson did not confirm the transaction’s size, but various outlets, citing unnamed sources, mentioned it could be worth about $100 million. Talos stated that this is the largest deal in its history.

Coin Metrics provides cryptocurrency market data and various intelligence services.

“By combining our platforms, we create a fully integrated solution that benefits clients from both companies,” stated Anton Katz, CEO and co-founder of Talos. “Institutions are increasingly emphasizing the entire digital asset investment lifecycle—from trading to portfolio management, market data, chain analysis, and portfolio construction.”

The acquisition occurs as the crypto M&A landscape heats up, especially with rising prices for Bitcoin and other digital assets. In May, Coinbase, the largest U.S. crypto exchange, acquired Derivatives Exchange Deribit for $2.9 billion, marking the year’s largest deal. Moreover, Coin has completed several purchases this year.

In April, Magic Eden announced its intention to acquire Slingshot Finance, a mobile-first crypto trading app that stands out for its cross-chain swapping and user-friendly interface.

Additionally, Kraken, based in San Francisco, revealed its purchase of Futures Trading Platform Ninjatrader for $1.5 billion in March.

Talos provides the technology that empowers institutions to engage with decentralized financial markets. Notably, it made an acquisition last year to enhance its portfolio management system.

Talos covers the entire trading lifecycle, including aspects like liquidity procurement, price discovery, trading, settlement, lending, borrowing, and portfolio management. The founders, Katz and Ethan Feldman, recognized the demand for trading platforms tailored to institutional investors. In 2022, Talos secured $105 million in a Series B funding round with a valuation of $1 billion.