Deloitte has acqui-hired crypto infrastructure firm Blocknative, according to an announcement on Tuesday. Blocknative’s team will "focus on driving Web3 innovation across Deloitte’s client portfolio."
The Blocknative website now returns an announcement post noting that the firm is "now in the process of ceasing operations." The Blocknative API and Gas Network are winding down, with services expected to operate through June 19.
Founded in 2018, Blocknative is a blockchain infrastructure company that specializes in real-time mempool monitoring, gas fee prediction and transaction management. It offered APIs and other tooling to optimize transactions, while its Gas Network served as a decentralized oracle network for sourcing real-time gas fee pricing data.
"This chapter of our work in the ecosystem is coming to a close: on mempool visibility, transaction orchestration, block building, MEV auctions, private order flow, transaction pricing, and more," Matt Cutler, Blocknative CEO, said. "That work was shaped by our customers, the protocol teams, wallet builders, researchers, and institutions who pushed for better answers."
It is unclear whether the entire Blocknative team will join Deloitte. The Block reached out to Blocknative for additional details.
The move comes amid a wave of consolidation across the crypto ecosystem, with a number of major companies announcing layoffs and smaller projects winding down entirely. This includes core infrastructure providers, like Tally, which served as a much-used DAO governance and coordination platform.
It also comes as traditional companies like Deloitte increase their crypto exposure. Deloitte, for one, now offers accounting, auditing and other corporate services for crypto firms.