Company raises eyebrows with $130 million crypto purchase: ‘It’s a paradigm shift’
Fireblocks, a company that helps businesses safely store and move digital assets, announced in early January that it acquired the cryptocurrency accounting platform TRES Finance for $130 million.
As Fortune reported, Fireblocks, valued at $8 billion as of 2022, saw the purchase as a way to build a one-stop solution for companies to manage their digital currencies and access clear financial reports.
The company’s CEO and cofounder, Michael Shaulov, said the move will help businesses feel more confident using crypto, especially as governments and regulators increasingly expect better record-keeping and transparency as the industry matures.
TRES Finance’s tools give CFOs and accountants a clearer understanding of…
