Fireblocks disputes reported $2.5 billion Visa talks

Visa is reportedly in advanced discussions to acquire digital-asset infrastructure provider Fireblocks for about $2.5 billion, but Fireblocks disputed the account, saying the reported talks were not true at present. The reported negotiations have not been confirmed by Visa, which said it does not comment on rumors or speculation. The account of advanced or late-stage discussions was attributed to multiple unidentified people familiar with the matter. Fireblocks said it was aware of rumors about a possible acquisition, but that the reports were news to the company and not true at present. The opposing statements leave the central question unresolved: whether the companies are negotiating a transaction. The reported $2.5 billion price is about 69% below Fireblocks’ approximately $8 billion valuation in January 2022, when the company raised $550 million in a Series E funding round. The figures refer to different points in time and types of transactions: the earlier valuation was set in private financing, while the reported amount is a potential acquisition price. Neither company has announced a definitive agreement. Fireblocks provides digital-asset custody and infrastructure for...