Fireblocks Denies Report of Late-Stage Acquisition Talks With Visa
Summary
- Fireblocks said a report about acquisition talks with Visa was not true.
- Axios reported that Visa’s acquisition talks for Fireblocks were in the final stages and that the company’s valuation was being discussed at $2.5 billion.
- Fireblocks was valued at $8 billion when it raised $550 million in funding in 2022, and CoinDesk said recent speculation has also pointed to a possible sale and to Coinbase as a potential acquirer.
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Crypto custody infrastructure firm Fireblocks denied a report that it is in talks to be acquired by Visa.
CoinDesk reported on October 22 that Fireblocks acknowledged rumors about a Visa acquisition but said the claim was new to the company and not true at this time.
Axios reported the same day, citing unnamed sources, that talks for Visa to acquire Fireblocks were in the final stages. It said Fireblocks was being discussed at a valuation of $2.5 billion in the negotiations.
Fireblocks raised $550 million in 2022 at an $8 billion valuation. The $2.5 billion figure cited in the latest report is far below that level.
CoinDesk also said speculation about a potential sale of Fireblocks has surfaced in recent weeks. U.S. crypto exchange Coinbase has also been mentioned as a potential acquirer.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul