In a strategic move, cryptocurrency intelligence firm Glassnode has announced a significant shift in its business focus. The company has decided to reallocate its resources towards developing new solutions tailored for institutional investors and the burgeoning decentralized finance (DeFi) sector.
As part of this strategic shift, Glassnode revealed on November 6th that it had divested itself of its crypto-centric tax platform, known as Accointing. The platform has been acquired by the prominent European crypto compliance provider, Blockpit. While both companies have chosen not to disclose the specific financial terms of the transaction, they have confirmed that it constitutes a “multimillion-dollar deal.”
This move underscores Glassnode’s commitment to adapt and pivot in the ever-evolving crypto landscape, aligning its services with the dynamic needs of institutional investors and the flourishing DeFi ecosystem.
The decision to refocus efforts away from crypto tax-related projects signifies Glassnode’s dedication to delivering innovative solutions that cater to the demands of an increasingly complex and diverse crypto market.
