Crypto custody specialist Fireblocks denies it's in talks to be acquired by Visa
Fireblocks has officially denied rumors that it is in late-stage acquisition talks with Visa. The crypto custody firm clarified that the reports are untrue, despite ongoing market speculation involving other potential buyers like Coinbase.
Why it matters
The denial highlights the volatility and sensitivity of valuations in the crypto infrastructure sector, especially following Fireblocks' previous high-valuation funding rounds.
Cryptocurrency custody firm Fireblocks dismissed reports it is in talks with Visa (V) to be acquired for $2.5 billion.
Axios, citing multiple unidentified sources, said the company was in late-stage talks with Visa.
“We are aware of the rumors about a possible acquisition of Fireblocks by Visa. This is news to us, and not true at present time,” a Fireblocks spokesperson said soon after the Axios story broke.
Fireblocks specializes in crypto custody using advanced pre-key sharding technologies such as multi-party computation (MPC).
A $2.5 billion purchase would be a marked drop in value since 2022, when Fireblocks raised $550 million at an $8 billion valuation .
That said, smoke has been circulating over the past three or four weeks about a potential sale of the business, with anonymous sources telling CoinDesk U.S.-listed Coinbase Global COIN $172.11 was also in the frame to buy Fireblocks.
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