CandleFocus Crypto Firm Ctrl Wallet Up for Sale With Bids Due by the End of the Month
2025-01-16
Author: Content Editor
Ctrl Wallet, a multi-chain self-custody wallet solution, is up for sale after receiving two M&A approaches last year. The company, previously known as XDEFI, received a takeover offer from a crypto protocol and a proposal to merge with a decentralized exchange. Ctrl Wallet has engaged investment bankers and is being advised by Imperii Partners. An auction process is currently underway, with bids due by January 28th and a winning bidder set to be announced by January 31st. The CEO of Ctrl Wallet aims to reach over 2 million users by the end of the year and believes partnering with a larger player is necessary to compete with competitors like Coinbase Wallet, Binance's Trust Wallet, and OKX's wallet. The company previously raised funds at a valuation of $60 million in 2021.
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