Talos Acquires Coin Metrics for Over $100 Million

Talos, a leading crypto infrastructure company backed by Citibank and Andreessen Horowitz, has successfully acquired blockchain data provider Coin Metrics. This deal, confirmed to be over $100 million, marks a significant step in Talos's vision of becoming a comprehensive resource for institutions venturing into crypto trading and portfolio management. Co-founder and CEO Anton Katz emphasized Coin Metrics' prowess in on- and off-chain data, noting the shift digital assets are causing in finance – exemplified by Robinhood's entry into tokenized stocks. 'This is the next evolution for us,' Katz stated, highlighting the role of digital assets as the foundation of future financial markets. Founded in 2018, Talos aims to bridge centralized exchanges like Coinbase with decentralized platforms such as Uniswap, providing robust trading infrastructure for institutional crypto trading. Katz has a longstanding relationship with Coin Metrics, underscoring the acquisition's importance in delivering enhanced historical and on-chain data. The talks for the deal began four months ago, with plans for full integration of Coin Metrics without additional capital. Katz mentioned that while an initial public offering (IPO) is on the table, especially after Circle's recent IPO, Talos isn't ready to make definitive commitments just yet. This acquisition is part of a broader trend of mergers and acquisitions in the crypto sector, fueled by a favorable regulatory environment and market consolidation. Recent high-profile deals have included Coinbase's record acquisition of Deribit and Kraken's purchase of NinjaTrader. Talos was valued at $1.25 billion during its Series B funding round in 2022, supported by notable investors such as Wells Fargo Strategic Capital and Fidelity Investments. Coin Metrics also raised $35 million last year, with backing from BNY Mellon and Goldman Sachs, illustrating a competitive and dynamic landscape within the crypto industry.