Cryptocurrency intelligence firm Glassnode has sold its crypto tax platform Accointing to Blockpit in a multimillion-dollar deal. This move allows Glassnode to concentrate on providing Digital Asset Intelligence Solutions for institutional clients and expanding into the DeFi sector.
Glassnode has announced a strategic shift in its focus, parting ways with its crypto tax-related project, Accointing, and selling it to Blockpit. While the exact deal size remains undisclosed, the transaction is described as a “multimillion-dollar deal.” This decision marks Glassnode’s departure from the crypto tax space, allowing the firm to intensify its efforts in delivering new Digital Asset Intelligence Solutions to institutional investors.
Glassnode’s representative stated, “After having built the leading on-chain data platform for Bitcoin and Ethereum, we are currently expanding our product offering into DeFi.
Our aim is to equip Institutions with DeFi data and tools that help them to trade in and navigate the DeFi space.” Blockpit, already experienced in merging with competitors, sees this acquisition as a perfect opportunity to create a unified crypto tax platform for Europe.
Accointing users can seamlessly transition their profiles and data to Blockpit, enhancing the platform’s capabilities while ensuring compliance with upcoming crypto tax regulations.