Crypto

Visa weighs $2.5 billion bid for Fireblocks

Crypto custody firm Fireblocks has denied reports that Visa is in late-stage talks to acquire it for about $2.5 billion, The Block reported on Oct. 22. Axios earlier reported the talks, citing multiple sources. Fireblocks said the report was new to it and not true at this time. A Visa spokesperson said it does not comment on rumours or speculation. Fireblocks was valued at $8 billion in a 2022 funding round.

Crypto

Exchange major shareholder stake cap kept despite delays in digital asset law, raising fears of chilled financial investment

As the institutionalisation of South Korea’s digital asset market is delayed, financial authorities are again stressing the need to limit major shareholders’ stakes in exchanges, heightening industry concerns. The Financial Services Commission is considering a 20 percent cap, with options such as allowing up to 34 percent under conditions or limiting voting rights. With second-stage legislation stalled, uncertainty is affecting deals and investments involving Naver Financial, Dunamu, Coinone and Korbit.