Crypto market maker B2C2 held sale talks with multiple potential buyers
B2C2, a major institutional cryptocurrency market maker, has reportedly held acquisition talks with several potential buyers over the past 18 months. While the firm seeks a valuation exceeding $1 billion, market volatility and subdued trading volumes have complicated potential deal-making.
Why it matters
The potential sale reflects a broader trend of consolidation in the digital asset industry as firms seek scale and institutional integration to survive a challenging market environment.
B2C2, the crypto market maker 90% owned by Japan's SBI Holdings, has held takeover talks with several potential acquirers over the past 18 months, according to five people with knowledge of the matter.
Valuation has been a sticking point in the discussions, said two of the people, who spoke on condition of anonymity because the matter is private.
The London-based firm is said to be looking for a valuation in excess of $1 billion one person said, adding that such a deal would be difficult to pull off given the current crypto-market environment.
Discussions have centered on the sale of part or all of the company, though it is unclear whether any talks remain active.
A B2C2 spokesperson declined to comment. SBI did not respond to a request for comment by publication time.
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