At a glance
- Axios attributed its report to multiple unidentified sources.
- CoinDesk, citing anonymous sources, reported that Coinbase Global had also been in the frame as a possible buyer, and that talk of a sale had circulated for three or four weeks.
- Fireblocks specializes in crypto custody using multi-party computation, a method that splits cryptographic key material across parties rather than storing it in one place.
Fireblocks denied that it is in talks to be acquired by Visa, after Axios reported the payments company was in late-stage discussions to buy the crypto custody firm for $2.5 billion. "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, according to CoinDesk, which reported the statement came soon after the Axios story broke on Oct. 22. Axios attributed its report to multiple unidentified sources.
CoinDesk, citing anonymous sources, reported that Coinbase Global had also been in the frame as a possible buyer, and that talk of a sale had circulated for three or four weeks. After the CoinDesk story published, Coinbase denied it was involved in a possible transaction, CoinDesk reported. The same report said Visa did not respond to requests for comment.
Fireblocks raised $550 million at an $8 billion valuation in 2022, so a $2.5 billion sale would value the company at about 31% of that mark, a 69% discount on the reported figures.
Fireblocks specializes in crypto custody using multi-party computation, a method that splits cryptographic key material across parties rather than storing it in one place. Bank custodians have also moved into digital asset safekeeping: Citi put bitcoin on its main institutional custody rail in August.
Reported by the Custody & Infrastructure desk from CoinDesk — Policy & Institutions and Digital Capital Daily archive. Published . Corrections