Institutional trading technology provider Talos announced on July 16, 2025, its acquisition of blockchain analytics firm Coin Metrics in a deal reportedly valued at over $100 million. While Talos did not publicly confirm the exact figure, multiple sources cited this amount, making it the largest acquisition in Talos' history.
The strategic move aims to integrate Coin Metrics' market data feeds, risk models, and blockchain analytics directly into Talos' existing trading and portfolio management systems. Talos CEO Anton Katz emphasized the creation of a fully integrated one-stop platform covering the entire digital asset investment lifecycle: "Institutions increasingly look to us to support everything from trading to market data, on-chain analytics, and portfolio construction."
This acquisition occurs amid surging crypto M&A activity in 2025, including Coinbase's $2.9 billion purchase of Deribit, Kraken's $1.5 billion acquisition of NinjaTrader, and Magic Eden's takeover of Slingshot Finance. Talos previously expanded its institutional offerings through acquisitions of risk-tech firm Cloudwall and DeFi connector Skolem.
Industry analysts position the deal as a response to crypto's fragmented data landscape, with Talos potentially creating a Bloomberg Terminal equivalent for digital assets. The combined entity seeks to address institutional investors' need for standardized, auditable data in an otherwise opaque market.