On-chain and market data intelligence protocol, Glassnode has acquired leading crypto tax and portfolio tracking platform Accinting.com. The acquisition sees both companies’ services integrated together, to improve the user experience across the board. Once the integration is done, Glassnode users can take advantage of Accinting.com’s services, including viewing their portfolio assets across wallets and exchanges. For Glassnode, this agreement moves them closer to achieving their mission of becoming the number one marketplace and portfolio intelligence platform in the crypto world.
While the financial terms of the acquisition agreement remain undisclosed, Glassnode in a Press Release said the deal will allow users of both platforms to track their portfolios in one place once Accinting.com is integrated. Until then, users will be able to access both platforms using the same credentials.
Speaking of portfolio platform acquisitions and crypto taxes, Glassnode The team admitted it was a perfect choice and easy to make. The official statement reads: “Its ability to track and report taxes accurately across decentralized and centralized services has made it a perfect companion for the way forward. I.”
“Accointing.com is one of the industry’s leading tax and portfolio tracking platforms with hundreds of thousands of users across web and mobile devices. Accurate tax reporting and tracking capabilities across services Decentralization and centralization have made it a perfect companion for the way forward,” said the Glassnode team.
While Glassnode has yet to announce any public funding round, data analytics firm Messari, its biggest rival, recently raised $35 million (about Rs 288.5 crore) in Series B round led by Brevan Howard Digital with a valuation of $300 million (approximately Rs. 2473 crore), according to The Block.
Meanwhile, it is worth noting that mergers and acquisitions (M&A) are gradually becoming a trend in the data and analytics space. Like reported by The Block Research – tracking M&As, Q3 2022 alone saw at least 7 acquisitions involving data and analytics companies.
However, this trend may reflect how investors increasingly want to understand the business of cryptocurrencies. That is, they want to monitor their crypto portfolio, make analyzed investment decisions, and comply with tax rules.