Search results for m&a
Galaxy Digital eyeing more M&A despite $554 million loss
Galaxy Digital is looking at acquisitions to add new areas to its core businesses, and its CEO sees an opportunity in tokenization. The post Galaxy Digital eyeing more M&A despite $554 million loss appeared first on The Block.
Crypto market downturn could lead to new M&A opportunities, according to Galaxy’s top deal maker
Galaxy's Michael Ashe says there is more "receptivity" to M&A amid the crypto market slump. The post Crypto market downturn could lead to new M&A opportunities, according to Galaxy’s top deal maker appeared first on The Block.
NFT companies were a big M&A target during first half of the year
A record high number of 12 deals in these spaces took place in 2022's second quarter, despite the NFT market cool down. The post NFT companies were a big M&A target during first half of the year appeared first on The Block.
Q2′ 22 Blockchain Private Funding and M&A Recap
Quick Take Venture funding in the blockchain sector declined roughly 22% from $12.5 billion to $9.8 billion. Prior to this drop, investment in the industry had increased for seven consecutive quarters Year to date, Southeast Asia has received more than $2.2 billion in private investment across 160 venture deals DeFi had the largest Q/Q declines in funding in both dollars terms and its number of deals NFTs/Gaming funding popularity has officially poured into the M&A markets. Nearly 38% of its M&A transactions have occurred over the past two quarters
Robinhood Merger With FTX Could Be 'Win-Win': Why This Analyst Is Bullish On M&A Rumors
Rumors of Robinhood Markets Inc (NASDAQ: HOOD) being acquired by FTX sent shares soaring Monday. While FTX CEO and co-founder Sam Bankman-Fried put the rumors to rest for now, one analyst can’t help but think of the possibility of a merger. The Robinhood Analyst: Piper Sandler analyst Richard Repetto has a Neutral rating on Robinhood and a price target of $11. Related Link: Robinhood Q1 Earnings Highlights: EPS And Revenue Miss, Monthly Active Users Fall The Analyst Takeaways: An alliance or merger between Robinhood and FTX could bring together two companies with complementary business models, Repetto said in a note on Robinhood. “A strategic partnership between HOOD and FTX could be a win-win scenario,” Repetto noted. The analyst points to Robinhood having early success and being disruptive in the online trading sector. The company’s zero commission trading has been adopted by others, taking away a disruptive edge it had. “While HOOD has a strategy of diversification, cost control, and continued product innovation, current consensus estimates do not have it reaching profitability until 2025,” he continued. For growth, Robinhood is looking towards cryptocurrency and international markets. Robinhood launched crypto wallets and added additional cryptocurrencies to its platform in the second quarter. FTX is one of the largest cryptocurrency exchanges in the world and brings with it an international audience. “FTX brings one of the largest, international spot and derivative crypto exchanges in the world and SBF’s innovation has potential to disrupt and disintermediate the futures clearing model of tomorrow,” the analyst said. FTX is pushing into U.S. stock trading as one of its pillars of growth, a move that could increase its customer base and bring more people to its cryptocurrency platform. “We believe HOOD’s culture of innovation and brokerage expertise, regulatory knowledge, and strong U.S. retail brand and presence could be highly desirable for FTX,” he noted. Bankman-Fried acquired a 7.6% stake in Robinhood earlier this year, paying an average of $11.52 for Robinhood shares. Aside from a merger or partnership with FTX, the analyst points to Robinhood having $6 billion of cash on its balance sheet. One sticking point for a merger would be how the founders of Robinhood feel about a deal due to a dual-class share structure. HOOD Price Action: Robinhood shares are down 2.80% to $8.87 on Tuesday at market close. Photo: Sergei Elagin via Shutterstock Latest Ratings for HOOD DateFirmActionFromTo Feb 2022Deutsche BankMaintainsHold Jan 2022BarclaysMaintainsEqual-Weight Jan 2022RosenblattMaintainsBuy View More Analyst Ratings for HOOD View the Latest Analyst Ratings © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Robinhood Shares Pop On Takeover Talk, FTX CEO Has This To Say On M&A Chatter
Stock and cryptocurrency platform Robinhood Markets (NASDAQ: HOOD) saw shares surge Monday as it was reported the company could soon be acquired. Here’s the latest. What Happened: Robinhood shares surged Monday on a report by Bloomberg that FTX could be looking to acquire the company that cited people familiar with knowledge of the matter. Related Link: Report Of FTX's Interest In Robinhood Comes 1 Week After This Acquisition FTX Responds: The rumors of an acquisition likely made sense to investors, as it was disclosed last month that FTX CEO and co-founder Sam Bankman-Fried took a stake in Robinhood. Bankman-Fried owns 7.6% of Robinhood. “The reporting persons acquired the shares in the belief that the shares represent an attractive investment. The reporting persons intend to hold the shares as an investment, and do not currently have any intention of taking any action toward changing or influencing the control of the issuer,” the filing read. While Bankman-Fried owns a stake in Robinhood, he said Monday that FTX is remaining on the sidelines. “We are excited about Robinhood’s business prospects and potential ways we could partner with them, and I have always been impressed by the business that Vlad and his team have built,” Bankman-Fried said in a statement to TechCrunch. “That being said there are no active M&A conversations with Robinhood.” Bankman-Fried said FTX is open to partnering with Robinhood in the future. A Robinhood spokesperson told TechCrunch no buyout can occur without the approval of Robinhood’s founders due to a dual-class shareholder setup. FTX recently announced it has $2 billion to spend on acquisitions and taking stakes in other companies. HOOD Price Action: Robinhood shares spiked late Monday on rumors of a buyout by FTX and were temporarily halted. Robinhood shares are now down 5% to $8.71 in after-hours trading. Robinhood shares have traded between $6.81 and $85 over the last 52 weeks. Photo via Shutterstock. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Expect a Wave of M&A as Crypto Market Crashes, Says Analyst
A researcher at Needham & Company said the continuous crash of the cryptocurrency market could lead to a wave of ...Read More...
As Musk-Twitter M&A Continues To Heat Up, This Obscure Memecoin Surges 10,800%
Social media giant Twitter Inc (NYSE: TWTR) is set purportedly set to accept the $43 billion acquisition offer from the world's richest man, Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk. This event apparently resulted in both Dogecoin (CRYPTO: DOGE) and an obscure memecoin rallying. What Happened: Twitter will accept what Musk described as his "best and final" offer to acquire the company according to people familiar with the matter, Reuters reported on Monday. Per the report, Twitter may announce a $54.20-per-share deal later on the same day after the board meeting to recommend the transaction to shareholders, but the deal could also collapse at the last minute. See Also: How To Get Free Crypto Dogecoin — the world's first memecoin Musk famously endorsed on multiple occasions — saw a surge in trading volume right after The Wall Street Journal published a similar report, with its 24-hour volume skyrocketing 166% from $740 million to $1.97 billion while its price jumped 13% higher from $0.1247 up to $0.1412. An obscure memecoin aptly named Elon Buys Twitter (CRYPTO: EBT) saw its price spike much more significantly — from about $0.00000001811 to a high of $0.000001972 for an earth-shattering gain of nearly 10,800%. Elon Buys Twitter is hardly an advisable investment considering that its market cap of under $80,000, and current and significantly higher than average 24-hour trading volume of about $615,000 means that its price can move significantly with very little capital, making it exceptionally volatile. So volatile that today's high is not even near its all-time high of $0.00023 reported in April 2021, meaning that those who bought at this price are still down more than 99%. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Benzinga•
An overview of M&A deals in crypto mining
Quick Take The merger and acquisition deals in crypto mining over the past five years have fundamentally reshaped the industry’s landscape. In 2017, mining operators, hosting providers, landowners and power plants, while being partners to one another, were mostly separate businesses. But now, they have become more overlapped and integrated than ever. We take a look at how the M&A deals have played a role in the consolidation of the crypto mining industry.
Q1′ 22 blockchain private funding and M&A recap
Quick Take The blockchain/crypto sector received nearly $12.5 billion in venture funding, a sector high, and it has continued to increase for seven consecutive quarters now The 624 funding deals that occurred last quarter are also a record for the blockchain sector, which was previously set during Q2′ 21 The NFTs/Gaming vertical made up roughly 36% of investment deals for the sector. On the contrary, DeFi’s percent of total deals has gradually declined for four consecutive quarters, and its percentage fell under 20% for the first time in at least six quarters Q1′ 22 was the second-highest quarter in the sector’s history in M&A transactions (56) and the third-highest in M&A volumes ($907 million)
2 crypto M&A shops are merging ahead of a wave of expected deal-making activity
"We anticipate a number of M&A themes to play out in 2022," said Architect Partner's Eric Risley. The post 2 crypto M&A shops are merging ahead of a wave of expected deal-making activity appeared first on The Block.