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CoinDesk acquires crypto index startup TradeBlock

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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. 

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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