Talos Acquires Coin Metrics

Talos, a provider of institutional trading technology, is acquiring data company Coin Metrics to expand services for institutional investors, as detailed in a press release on Wednesday. This acquisition adds to the growing list of crypto M&A transactions this year.

A Talos spokesperson did not confirm the deal’s size to Decrypt, but several news outlets reported a valuation of $100 million, citing unnamed sources. Talos stated this is the largest deal in the company’s history.

Coin Metrics provides a crypto markets feed and other market intelligence services.

> Big announcement: Talos has agreed to acquire Coin Metrics (@coinmetrics), the leader in crypto market data and blockchain analytics.
> This strategic combination will create the first fully integrated institutional platform that unifies best-in-class execution and portfolio…
> — Talos (@talostrading) July 16, 2025

“By bringing our platforms together, we’re creating a fully integrated, one-stop solution that benefits the clients of both firms,” said Talos CEO and co-founder Anton Katz. “Institutions increasingly look to us to support the entire digital asset investment lifecycle, from trading and portfolio management to market data, on-chain analytics, and portfolio construction.”

The acquisition coincides with a surge in crypto M&A activity as the prices of Bitcoin and other digital assets increase. In May, Coinbase, the largest crypto exchange in the U.S., acquired derivatives exchange Deribit for $2.9 billion, marking the largest deal in the industry this year. Coinbase has completed multiple acquisitions this year.

Additionally, in April, Magic Eden announced its acquisition of Slingshot Finance, a mobile-first crypto trading application known for cross-chain swaps and a retail-friendly interface.

Furthermore, San Francisco-based exchange Kraken announced it was purchasing futures trading platform NinjaTrader for $1.5 billion earlier this year.

Talos offers technology that enables institutions to participate in crypto markets. Last year, it acquired Cloudwall, a developer of digital asset risk technology, and Skolem, a technology provider that facilitates efficient connections for institutional investors in decentralized finance markets.

Talos covers the entire trading lifecycle, including liquidity sourcing, price discovery, trading, settlement, lending, borrowing, and portfolio management. The company was founded by Katz and Ethan Feldman, who recognized the need for a trading platform tailored to institutional investors. In 2022, Talos raised $105 million in a series B funding round, attaining a $1 billion valuation.