USDCrypto M&A and Funding Highlights: MoonPay Acquires Helio, Chainalysis Adds Alterya
MoonPay Acquires Helio for $175M to Enhance Crypto Payment Services
MoonPay has acquired Helio, a Solana-based payment processor, for $175 million to enhance its crypto payment services. Known for its crypto checkout platform, Helio allows businesses to accept payments in digital assets like Bitcoin, Ether, and USD Coin, serving over 6,000 merchants with a transaction history exceeding $1.5 billion. The acquisition will strengthen MoonPay’s payment infrastructure, aiming to improve the efficiency and speed of merchant transactions.
Helio is integrated with popular platforms such as Discord, Shopify, and WooCommerce, enabling a more comprehensive solution for merchants and consumers. Stijn Paumen, Helio's CEO, highlighted the move as a way to offer faster, cost-effective, decentralized payment options. Additionally, MoonPay received approval to operate as a licensed crypto business in the Netherlands under the EU’s Markets in Crypto-Assets (MiCA) bill, marking a significant step in its growth strategy and solidifying the crypto industry's role in the global economy.
Chainalysis Acquires AI Startup Alterya for $150M to Enhance Crypto Fraud Prevention
Chainalysis has acquired Israeli AI startup Alterya for $150 million, enhancing its capabilities in fraud detection across both crypto and traditional finance. Founded in 2022 and supported by $9.8 million in seed funding, Alterya specializes in using AI agents to prevent scams targeting financial institutions, fintechs, and crypto service providers. The acquisition enables Chainalysis to transition from reactive investigations to proactive fraud prevention, especially as scams increasingly utilize generative AI.
Alterya monitors over $8 billion in monthly transactions, helping clients like Binance and Coinbase identify and reduce fraud by 60%. In 2024 alone, Alterya detected $10 billion sent to scams and has protected 100 million end-users. According to Coinbase's Ilan Zimmer, Alterya’s technology effectively identifies wallet addresses associated with scams, aiding in customer protection and trust-building. This move follows Chainalysis’s recent acquisition of Hexagate, further solidifying their commitment to combatting financial crimes.
Sigma Capital Launches $100M Crypto Fund with $40M Pre-Committed
Sigma Capital, a new crypto venture capital firm founded by Vineet Budki, aims to raise $100 million for its inaugural fund, with approximately $40 million already pre-committed. The firm plans its first close by June 30, 2025, and the final close in 18 months. Sigma's investment strategy allocates 50% to early-stage startups, 40% to liquid tokens and high-yield DeFi strategies, and 10% to fund-of-funds.
The portfolio could feature up to 100 early-stage deals at a median investment of $500,000, with liquid deals ranging from $2-3 million and fund-of-funds averaging $1 million each. Key sectors for investment include decentralized finance (DeFi), blockchain infrastructure, real-world asset tokenization, gaming, and the metaverse. Sigma Capital is headquartered in Dubai and Singapore and regulated in the Cayman Islands, aiming to build a team of about 30 people to support its operations.
Deribit Explores $4-$5 Billion Acquisition Offers Amid Crypto Market Resurgence
Deribit, the premier cryptocurrency exchange for Bitcoin and Ether options trading, is currently exploring potential acquisition offers, valuing the company between $4 billion and $5 billion. Engaging Financial Technology Partners for strategic guidance, Deribit has shifted from facilitating secondary stock sales to considering comprehensive bids for the entire company.
Interest in Deribit surged amidst a revitalized crypto market, which saw merger and acquisition activity rise significantly, totaling $1.2 billion in publicly disclosed deals in Q4 2023, up from $400 million in the same period the previous year. While several companies have expressed interest, such as Kraken, discussions have not always resulted in confirmed bids. Recent industry movements, including the acquisition of FalconX, demonstrate a broader trend of fast-tracked consolidation in the crypto sector following recent market dynamics.
Komainu Secures $75 Million in Bitcoin from Blockstream for International Expansion and Technology Integration
Komainu, a crypto custody firm based in Jersey and backed by Nomura's Laser Digital, is set to receive a unique $75 million investment from Blockstream in Bitcoin, pending regulatory approval. This Series B funding aims to bolster Komainu's international expansion and facilitate the adoption of Blockstream’s cutting-edge technologies to enhance client services. Notably, Komainu plans to establish a Bitcoin treasury to manage the investment rather than converting it to fiat currency, reflecting a strong commitment to digital assets.
Adam Back, CEO of Blockstream, expressed enthusiasm for this partnership, highlighting the significance of integrating Bitcoin technologies into institutional finance. Komainu's Co-CEO, Paul Frost-Smith, emphasized that the collaboration will transform their service offerings and solidify their position as a leading provider of digital asset services, aiming to further increase institutional adoption of Bitcoin. This deal marks a significant milestone in the institutional acceptance of Bitcoin-related technologies and applications.
Phantom Raises $150M in Series C Funding, Valued at $3B
Phantom, a leading provider of self-custodial crypto wallet services, has successfully raised $150 million in a Series C funding round led by Sequoia Capital and Paradigm, with participation from A16z Crypto and Variant. This funding values the company at $3 billion, which is more than double its previous valuation. Phantom aims to utilize the new capital to create "the biggest consumer finance platform," building on its impressive growth attributed to Solana's fast and cost-effective transactions.
The company currently boasts 15 million monthly active users and has managed $20 billion in annual swap volume, alongside $25 billion in self-custody assets. CEO Brandon Millman emphasized the mission to enhance crypto accessibility and safety for users. Looking ahead, Phantom plans to expand through additional acquisitions and partnerships, focusing on social discovery features and simplifying peer-to-peer transactions in 2025.
Sygnum Secures USD 58 Million in Oversubscribed Growth Round
Sygnum, a global digital asset banking group, has successfully raised USD 58 million in an oversubscribed Strategic Growth Round, achieving a post-money valuation exceeding USD 1 billion. The company plans to utilize these funds for market expansion into the EU/EEA regulated market and to establish a presence in Hong Kong. Sygnum will enhance its Bitcoin-focused product portfolio, infrastructure, and operational resilience, addressing rising regulatory trends in the digital asset industry.
Notably, Sygnum experienced over 1,000% annual growth in trading activities through Q3 2024, surpassing 2023 revenue across various trading products. This success was largely driven by collaborations with PostFinance and over 20 banking partners, providing crypto services to over a third of Switzerland's population. With more than 2,000 institutional clients in over 70 countries, Sygnum remains committed to delivering regulated digital asset services while upholding its core values of integrity and humility.
This article has been refined and enhanced by ChatGPT.
