Hello Fintech Friends,

Please find another week of fintech exits and deep reads below.

Have feedback for us? Let us know. Find me at @nikmilanovic, @twifintech, and @ndm

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News coverage written and provided by Rachel Chang.

Reads of the Week

Coinbase pulls support for major crypto bill. Here’s what it means for the industry

Coinbase’s withdrawal of its support potentially derails market structure legislation, says an analyst, noting that it’s bad for the crypto industry and good for the banks.

Coinbase also discusses why "Privacy coins are having a moment. "

Exits

IPOs & SPACs

• BitGo filed for a US IPO on the NYSE under the ticker BTGO, targeting a $1.96 billion valuation for its digital asset infrastructure business.

M&A - Fintech

• Polygon Labs acquired Coinme and Sequence for more than $250 million to build out its upcoming fiat and digital payments solution.
• iAltiA Holdings acquired BridgeFT, expanding its wealth infrastructure capabilities.
• Fireblocks agreed to acquire Tres Finance, a financial data and reporting platform for digital assets.
• Point72 Ventures sold more than $100 million in stakes of its fintech startup portfolio to a new continuation fund.
• S&P Global completed the sale of its enterprise data management (EDM) and thinkfolio businesses to private equity firm STG, where the EDM platform is used by buy and sell-side financial institutions.

M&A - Banks and Financial Institutions

• Old Glory Acquisition agreed to merge with Digital Asset Acquisition Corporation (DAAQ) in a $250 million SPAC deal to take Old Glory public.
• U.S. Bancorp signed an agreement to acquire BTIG, a California-based financial services firm, in a deal worth up to $1 billion. Deal expected to close in Q2 2026.
• Atomic Invest acquired Groene Hart Financial Diensten to broaden its white-label wealth management and brokerage services in Europe.

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