SBI-Owned B2C2 Seeks Over $1 Billion Valuation Amid Crypto Market Weakness

B2C2, a London-based institutional crypto market maker and liquidity provider, has held sale talks with multiple potential acquirers, according to a report. The company, which is 90% owned by Japan's SBI Holdings, is seeking a valuation of over $1 billion.

The report states that B2C2 has negotiated with several prospective buyers over the past 18 months, focusing on a sale of part or all of the company. However, it is unclear whether any discussions are still ongoing.

The crypto market's current weakened state may make it challenging to achieve a deal at this valuation level. B2C2's earnings depend on trading flows and liquidity provision, which have been affected by recent market conditions.