Talos Buys Coin Metrics in $100M Deal to Boost Crypto Analytics

Key Takeaways

• Talos acquires Coin Metrics for over $100 million
• The deal brings market data, benchmarks, and blockchain analytics tools to Talos’ platform
• This is the largest acquisition in Talos’ expansion strategy
• M&A activity is increasing strongly in the digital asset sector

Talos, a platform providing infrastructure and trading technology for institutional digital asset trading, has officially acquired Coin Metrics, a leading blockchain analytics platform in the market.

According to sources from Fortune magazine, the deal was finalized at over $100 million. However, the ratio of cash payments versus equity has not been clearly disclosed.

Comprehensive Data Integration and Analytics

This acquisition allows Talos to integrate Coin Metrics’ cryptocurrency market data, benchmarks, and analytics tools into its existing platform. This aims to meet the growing demand from institutional clients for comprehensive cryptocurrency services.

Anton Katz, co-founder and CEO of Talos, said the deal addresses client needs for comprehensive cryptocurrency services, from trading and portfolio management to on-chain analytics.

“Institutions are increasingly relying on us to support the entire digital asset investment lifecycle. Combining our teams and technologies creates a uniquely powerful platform,” Katz shared.

Tim Rice, co-founder and CEO of Coin Metrics, noted that the future of digital assets will require robust infrastructure capable of supporting trading, investment, and risk management at institutional scale.

Expansion Strategy Through Mergers and Acquisitions

The Coin Metrics acquisition is Talos’ largest deal, but not the first in the company’s expansion strategy. In 2023, Talos acquired D3X Systems, a portfolio construction platform. This was followed by risk management company Cloudwall in April 2024 and institutional DeFi platform Skolem in May. The financial terms of these deals were not disclosed.

Despite recent market downturns and uncertainty around cryptocurrency regulations in the United States, Talos has led successful funding rounds in recent years.

In 2021, Talos raised $40 million in a funding round backed by Andreessen Horowitz. The following year, the company raised $105 million from Stripes, bringing its valuation to $1.3 billion. Other major institutional investors include BNY Mellon, PayPal, Citi, and Wells Fargo Strategic Capital.

Katz said that with the new crypto-friendly administration in the United States, he is confident that more large institutions will move into cryptocurrency. “I don’t know if there’s a major financial institution we haven’t talked to yet,” he shared.

Rising M&A Trend in Digital Asset Sector

This deal comes at a time when merger and acquisition activity is increasingly thriving in the cryptocurrency sector.

The CEO of Tokyo-based Metaplanet has joined a joint venture negotiating to acquire a controlling stake in SGA, a public software services company. If completed, this deal would allow SGA to acquire Bitcoin and become a Bitcoin treasury company like Metaplanet – which is looking to expand its strategy across Asia.

In May, fintech brokerage platform Robinhood announced it would acquire Canadian cryptocurrency company WonderFi in the second half of 2025 for approximately $179 million. That same month, Alchemy, a Web3 development platform, acquired HeyMint, a California-based NFT launch platform, for an undisclosed amount.

These moves show that the digital asset industry is experiencing a strong wave of consolidation, with companies seeking to expand their capabilities and market share through strategic acquisitions.