JC Flowers stake values crypto group LMAX at $1B – PitchBook News & Analysis

JC Flowers has agreed to pay $300 million for a 30% stake in LMAX Group, valuing the cryptocurrency trading company at $1 billion. The all-cash deal is a secondary sale by LMAX employees. The London-based group operates five global crypto exchanges. In 2018, it launched LMAX Digital, which is now the world’s second-largest bitcoin exchange.