The cryptocurrency sector experienced an unprecedented surge in mergers and acquisitions, reaching a total value of $8.6 billion in 2025, according to the Financial Times. This marks a significant increase of nearly 300% from the previous year's total of $2.17 billion. A total of 267 deals were completed, reflecting an 18% rise from 2024, with projections for continued growth into 2026.
Coinbase led the way with its landmark acquisition of Deribit for $2.9 billion, the largest transaction in the crypto field to date. Other notable acquisitions included Kraken's $1.5 billion purchase of NinjaTrader and Ripple's $1.25 billion deal for Hidden Road. The favorable regulatory environment under President Donald Trump has contributed to this boom, instilling confidence in traditional financial institutions.
Additionally, the year saw a significant rise in initial public offerings (IPOs), with crypto firms raising $14.6 billion from 11 IPOs, a stark contrast to $310 million from only four in the previous year. Companies like Bullish, Circle Internet Group, and Gemini were among the top fundraisers, signaling a dynamic shift in the market.