Specific niche view of the structured sector hierarchy. Useful for precedent work where broader sector slices include too much noise.
| Target | Buyer / Investor | Sector | Geo | Transaction size | EV / EBITDA |
|---|---|---|---|---|---|
| NYDIG's institutional trading business | BitGo Holdings | Cryptocurrency Trading Platforms (Exchanges) | $45.0M – $60.9M | 6× – 8× | |
| TradeZero | eToro | Cryptocurrency Trading Platforms (Exchanges) | $231M | 7× – 9× | |
| XORKETS FX | Goldman Sachs | Cryptocurrency Trading Platforms (Exchanges) | $17,000M – $23,000M | 17× – 23× | |
| BlockFills’ institutional digital asset trading and brokerage business | Keyrock | Cryptocurrency Trading Platforms (Exchanges) | $21.2M – $28.7M | 6× – 7× | |
| WonderFi | Robinhood | Cryptocurrency Trading Platforms (Exchanges) | $180M | 12× – 16× | |
| Coinone | Dunamu | Cryptocurrency Trading Platforms (Exchanges) | $450M – $540M | 8× – 9× | |
| IDEX | Katana | Cryptocurrency Trading Platforms (Exchanges) | $90.0M – $105M | 12× – 14× | |
| Reap, Bitnomial | Payward | Cryptocurrency Trading Platforms (Exchanges) | $600M | 8× – 10× | |
| Bitnomial | Payward (Kraken) | Cryptocurrency Trading Platforms (Exchanges) | $550M | 18× – 21× | |
| Crypto.com | High Roller Technologies | Cryptocurrency Trading Platforms (Exchanges) | $20.0M – $25.0M | 18× – 21× |
Bins are observed deal frequencies across disclosed transactions. Use as a directional reference, not a target valuation.
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