Visa to Acquire Fireblocks for $2.5 Billion? Parties Swiftly Deny Report, Crypto Custody Valuation Down 70%
📰 Axios, citing several people familiar with the matter, reported that Visa is in late-stage talks to acquire crypto custodian Fireblocks for around $2.5 billion.
📰 A Fireblocks spokesperson responded that the rumor "is news to us and is not true at this time"; Coinbase also denied involvement in any deal. Visa declined to comment (CoinDesk).
📰 For comparison: Fireblocks was valued at $8 billion when it raised $550 million in 2022. A $2.5 billion price tag would imply a valuation of roughly 30% of that figure.
【Analysis】
The denial says "not true at this time," rather than "we have never been in talks," leaving the door open. The price is more noteworthy: top-tier custody/MPC infrastructure is being heavily repriced in the private market, suggesting that the inflated valuations of 2022 are still being unwound. On the other hand, traditional payment giants' interest in stablecoin settlement and custody capabilities is real, and crypto infrastructure is becoming an "acquirable asset" for TradFi.
【Opportunities/Risks】
✅ If acquisitions of custody/settlement companies by major players become a trend, it could benefit the narratives around compliant infrastructure and stablecoin payments
✅ Lower valuations could create a buy-the-dip window in the private market; keep an eye out for financing or M&A news involving other custody and wallet companies
⚠️ The report has now been denied, so it should not be treated as a confirmed positive catalyst; overall market risk appetite is weak, and
$BTC remains pressured by U.S. AI stocks and oil prices
⚠️ Lower private-market valuations could spill over into public markets, putting infrastructure token valuations under pressure as well
Do you think traditional payment giants are more likely to acquire crypto custodians next, or build their own instead?
#Visa #Fireblocks #加密托管 #Stablecoins
For reference only; not investment advice.