PANews reported on January 17 that according to CoinDesk, Emile Dubie, CEO and founder of Ctrl Wallet, a multi-chain self-custodial wallet solution, said in an interview that the company is being sold and the sale process was initiated after the company received two M&A proposals at the end of last year. The wallet provider (formerly known as XDEFI) received an acquisition offer from a crypto protocol and a proposal to merge with a large decentralized exchange (DEX). Dubie added that the company then hired investment bankers to organize the sales process and was advised by Imperii Partners. The auction process is underway, with the bid deadline being January 28, and the winner is expected to be announced on January 31.

Dubie said Ctrl Wallet currently has 650,000 users and aims to break 2 million users by the end of the year. The company's main competitors are Coinbase Wallet, Binance's Trust Wallet and OKX's wallet. Dubie said that in order to compete with these larger players, the company needs a partner, someone who can invest in the business. The company raised funds in 2021 at a valuation of $60 million.