Category: Mergers & Acquisitions

Bakkt’s SPAC shows how frothy the crypto markets have become

Bakkt’s SPAC shows how frothy the crypto markets have become

Quick Take Some market insiders think Bakkt’s ambitious SPAC reflects the frothiness of both the crypto and SPAC markets. It could lead to a flurry of other SPACs across the crypto industry. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.

Continue Reading

Visa, Plaid abandon billion-dollar acquisition plans in face of U.S. government opposition

Visa, Plaid abandon billion-dollar acquisition plans in face of U.S. government opposition

Visa’s bid to acquire and merge with fintech unicorn Plaid has come to an end. The financial services giant said late Tuesday that the two firms have terminated their plans, a move that comes months after the U.S. Department of Justice filed an antitrust lawsuit. Visa and Plaid went public with the acquisition bid in […]

Continue Reading

Walmart unveils new fintech startup in partnership with Ribbit Capital

Walmart unveils new fintech startup in partnership with Ribbit Capital

Mega-retailer Walmart has founded a financial services-focused fintech startup alongside Ribbit Capital, an investor of fintech firms, according to a Monday announcement. The as-yet-unnamed startup will be centered around “modern, innovative and affordable financial solutions,” according to a press statement.  The startup’s board will include Ribbit managing partner Micky Malka, Walmart U.S. CEO John Furner […]

Continue Reading

South Korean gaming giant Nexon denies reports that it plans to acquire Bithumb

South Korean gaming giant Nexon denies reports that it plans to acquire Bithumb

South Korean gaming giant Nexon has denied that it plans to acquire crypto exchange Bithumb, as local media outlets claimed last week. “NEXON Co., Ltd. has not invested in Bithumb and has no plans to acquire that company,” Nexon spokesperson Jeff Brown told The Block in an email Sunday. “We cannot comment on the investment […]

Continue Reading

Data & Analytics firms are ripe candidates for M&A activity in 2021

Data & Analytics firms are ripe candidates for M&A activity in 2021

Quick Take An increase in regulatory and compliance mandates for the industry will continue to make data & analytics companies more attractive Dating back since 2016, there’s been a total of roughly $460.7 million in M&A volume across 26 transactions Crypto tax software companies will likely be desirable to exchanges, external players looking to enter […]

Continue Reading

PayPal will not acquire crypto custodian BitGo, exploring other acquisitions: Report

PayPal will not acquire crypto custodian BitGo, exploring other acquisitions: Report

PayPal’s rumored acquisition talks with crypto custodian BitGo have fallen through, Fortune reported Thursday, citing “multiple sources.” In October, there were reports that BitGo could get acquired by PayPal, among other crypto companies. The payments giant is now reportedly exploring other potential buys. Meanwhile, BitGo has been “in talks with everyone” over the years, and […]

Continue Reading

Coinbase has promoted its COO ahead of its public market debut

Coinbase has promoted its COO ahead of its public market debut

“She’s a star.” That’s how one current employee described Emilie Choi, the once crypto outsider who over the past two years has slowly worked her way to the second most-powerful position at crypto unicorn Coinbase. Last month, Choi — who led mergers and acquisitions for LinkedIn before joining the San Francisco-based firm — received a […]

Continue Reading

SBI acquires crypto market-making firm B2C2

SBI acquires crypto market-making firm B2C2

SBI Financial Services, a subsidiary of Japanese financial conglomerate SBI Holdings, has acquired crypto market-making firm B2C2. The deal, first reported by Reuters, comes several months after the Japanese firm acquired a minority stake in the UK-based B2C2, which earlier this year said it would expand its business into so-called prime brokerage services.  Since the […]

Continue Reading

Decentralized Protocols and Mergers

Decentralized Protocols and Mergers

Quick Take  Yearn.Finance has recently announced a series of “mergers” with other DeFi protocols — namely Pickle.Finance, Cover, Akropolis, and Cream For now, these are simple partnership announcements. Resources are shared, but they are not mergers enforced by smart contracts Still, they are the first steps to what could be real M&A activity between protocols. […]

Continue Reading