CoinDesk acquires crypto index startup TradeBlock

advertisement

TradeBlock, a crypto market index provider and data firm, has been acquired by CoinDesk.

The deal, announced Tuesday, will see TradeBlock, which previously raised funds from the likes of A16z and Digital Currency Group, become a wholly owned subsidiary of CoinDesk, which is itself a subsidiary of DCG.

The terms of the deal were not disclosed. TradeBlock was founded in 2013, and its founders later created Axoni, a firm focused on distributed ledger applications in capital markets. TradeBlock raised $2.8 million in 2014.

CoinDesk is positioning the deal in part as a means to offer new data-focused and index products. "The entire TradeBlock team will stay with the company in the acquisition," the media company said in its release. 

“Mainstream acceptance of bitcoin is accelerating right now as Wall Street wakes up to its potential. With that has come an urgent need for the kind of robust data and professional tools that enable institutions to participate,” CoinDesk CEO Kevin Worth said in a statement. 

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Will Sanctions Drive Russia into the Arms of Cryptocurrencies?

From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More