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Crypto custody specialist Fireblocks denies it's in talks to be acquired by Visa

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Photo credit : Fireblocks co-founders (left to right) Idan Ofrat, Michael Shaulov, Pavel Berengoltz (Fireblocks)

ResumoA Fireblocks spokesperson said the acquisition talks were “news to us, and not true at present time.”Fireblocks previously raised $550 million at an $8 billion valuation back in 2022. Cryptocurrency custody firm Fireblocks dismissed reports it is in talks with Visa (V) to be acquired for $2.5 billion. Axios, citing multiple unidentified sources, said the company was in late-stage talks with Visa. “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 soon after the Axios story broke. Fireblocks specializes in crypto custody using advanced pre-key sharding technologies such as multi-party computation (MPC). A $2.5 billion purchase would be a marked drop in value since 2022, when Fireblocks raised $550 million at an $8 billion valuation. That said, smoke has been circulating over the past three or four weeks about a potential sale of the business, with anonymous sources telling CoinDesk U. S.-listed Coinbase Global COIN$171,09 was also in the frame to buy Fireblocks. Visa did not respond to requests for comment by press time. Coinbase had similarly not replied.

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