Fireblocks Denies Reports of Visa Acquisition Talks Worth $2.5 Billion

Crypto custody firm Fireblocks has dismissed reports that it is in talks to be acquired by Visa for about $2.5 billion. Axios, citing multiple unnamed sources, said the two companies were in late-stage negotiations. A Fireblocks spokesperson responded soon after the story appeared, saying the company was aware of the rumors, that the news was a surprise to the team, and that it is not true at present. Visa did not respond to requests for comment before publication.

Fireblocks Valuation Compared With 2022 Funding Round

A $2.5 billion deal would mark a steep drop from 2022, when Fireblocks raised $550 million at an $8 billion valuation. The company focuses on crypto custody and relies on advanced technologies such as multi-party computation to protect private keys through pre-key sharding.

Coinbase Also Linked to a Possible Fireblocks Sale

Talk of a sale has circulated for the past three or four weeks. Anonymous sources previously said Coinbase Global was also in the frame to buy Fireblocks. Coinbase had not replied to requests for comment at the time of writing.