The CEO of CoinGecko talks about the reports of the acquisition of 500 million dollars
Crypto journalist
Anas Hasan
Crypto journalist
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CoinGecko CEO Bobby Ong admitted Thursday that the company is exploring “strategic opportunities” following media reports that the company is looking to acquire concessions worth an estimated $500 million.
“After nearly 12 years of developing CoinGecko as a self-managed enterprise, a common question I get is about our future direction.
What I can reveal today is that CoinGecko is expanding and maintaining profitability, while institutional interest is emerging as traditional financial sectors increasingly adopt cryptocurrencies,” Ong said on LinkedIn.
According to media reports, sources with knowledge of the situation, CoinGecko is exploring the sale of the estimated value of $ 500 million.
Moelis hit as CoinGecko courts Wall Street acquisition
Although one source said the negotiations Insiders said the company has enlisted Moelis to provide consulting services for the process, although it is premature to determine an exact valuation as it will only start in late 2024.
Moelis is an established Wall Street investment banking firm focused on strategic financial guidance for corporations in mergers and acquisitions, restructurings and capital markets, with more than $5 trillion in transactions across multiple sectors.
In a post on X, Ong said it had received several inquiries following recent press coverage and expressed its appreciation for the interest.
“Like any growing and profitable company, we constantly evaluate strategic opportunities to strengthen our business and accelerate our mission,” he said after leading CoinGecko with co-founder and president TM Lee for more than a decade.
This statement suggests that CoinGecko is actively pursuing acquisition opportunities and is targeting capital firms rather than forcing the deal to traditional Wall Street institutional buyers.
While Ong declined to address specific negotiations, he expressed interest in “opportunities that allow us to better serve consumers and facilitate institutional crypto adoption.”
It is worth noting that CoinMarketCap, another crypto market data platform, was acquired by crypto exchange Binance for $400 million in 2020.
In announcing the acquisition, Binance explained that while both the exchange and the BNB token appear on the platform, “CoinMarketCap and Binance will remain separate entities that adhere to a strict policy of independence.”
More than five years later, crypto industry observers believe a $500 million valuation is reasonable for CoinGecko, as crypto data continues to grow and Wall Street data firms command high valuations.
Bloomberg LP, for example, although privately held, is estimated to be worth tens of billions, with recent calculations suggesting more than $120 billion based on 2008 stock trading, with current annual revenue exceeding $13 billion by early 2025.
$8.6B in Crypto Deals: Polygon, FireBlocks Lead 2026 M&A Explosion
A more favorable regulatory stance in the United States will encourage investors and financial institutions to re-enter the sector, increasing the number and value of mergers, acquisitions and initial public offerings in 2025.
According to a Financial Times report, 267 crypto-related deals will be completed by 2025, an 18 percent increase from 2024.
Total deal value is up nearly 300% from last year's $2.17 billion.
Market participants expect the pace to pick up towards 2026 as regulatory transparency improves in key regions.
Already in 2026, Polygon Labs recently revealed plans to acquire cryptocurrency exchange Coinme and crypto wallet infrastructure providers for over $250 million.
Additionally, blockchain infrastructure firm FireBlocks announced on Wednesday that it has acquired TRES Finance, a crypto accounting and financial reporting platform, for more than $130 million to meet the growing demand for “audit-ready, tax-compliant” financial documents for blockchain-based businesses.
On January 12, Bakkt Holdings, Inc. Distributed Technologies Research Ltd. (DTR) announced that it has agreed to acquire, advancing its strategy to deploy stablecoins and programmable payment capabilities, representing 31.5% of shares in total equity trading, “Bakkt share number.”
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