Cryptocurrency intelligence firm Glassnode has said it’s dropping crypto tax-related projects to focus on new solutions targeting institutional investors and decentralized finance (DeFi).
Glassnode, on Nov. 6, announced the sale of its crypto-focused tax platform known as Accointing to the European crypto compliance provider Blockpit. The firms declined to disclose the size of the deal to Cointelegraph, only revealing that the transaction was a “multimillion-dollar deal.”
“Glassnode will exit the crypto tax space with the sale of Accointing to Blockpit,” a spokesperson said, adding that the deal enables the firm to deepen its focus on delivering new Digital Asset Intelligence Solutions to its institutional clients.
“We have used the last months to reshape our infrastructure, enabling our move into DeFi data solutions and expansions into other digital asset ecosystem areas in the future,” Glassnode representative noted, adding:
“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.”
The transaction came just a year after Glassnode acquired…
