M&A season in the crypto industry is heating up. On Wednesday, New York-based Talos, which develops digital asset trading infrastructure, announced that it had acquired the blockchain data provider Coin Metrics. The deal closed at over $100 million, according to a source familiar.
Katz said that he has been friendly with Coin Metrics’ leadership team since both companies began, with Coin Metrics launching just a year before Talos. Though Talos can capture pricing data from the liquidity providers that it taps into, Katz said that the Boston-based Coin Metrics has more access to historical and on-chain data, as well as more capabilities in terms of servicing clients.
According to Katz, discussions between the two companies began about four months ago, with Talos planning to fully incorporate Coin Metrics into its team and platform. He said that Talos did not raise additional capital to finance the acquisition.
