Coinbase has acquired Liquifi, a token management platform used by major protocols such as the Uniswap Foundation, Optimism, and Ethena. The acquisition marks Coinbase's fourth purchase in 2025 and aims to enhance its capabilities in token distribution, vesting management, compliance, and tax handling. Liquifi's platform automates complex token operations including airdrops, lockups, and global payroll, supporting early-stage blockchain teams in launching and managing tokens. In 2024, Liquifi scaled its managed token volume from $1 billion to $8.5 billion, distributing $1.7 billion in tokens across 174 countries. Coinbase CEO Brian Armstrong highlighted the acquisition as a means to simplify token issuance, cap table management, and fundraising for startups, reinforcing Coinbase's ambition to build an end-to-end crypto platform. Separately, New York-based crypto infrastructure firm Talos has acquired blockchain data provider Coin Metrics for over $100 million. Coin Metrics offers crypto financial intelligence, including network and market data, indexes, and risk solutions. This acquisition is part of Talos's strategy to create a fully integrated institutional platform for digital asset trading and portfolio management. Talos, backed by Citi and having raised significant funding from investors including Andreessen Horowitz, aims to expand its presence in the institutional crypto trading market through this deal.