Crypto M&A deals hit an all-time high in 2025, blowing past $8.6B

Despite market turbulence, crypto merger and acquisition (M&A) activity surged to record levels in 2025, hitting $8.6 billion across 133 closed deals as of November, exceeding the total value of the preceding four years combined. This expansion is attributed to favorable tailwinds like regulatory changes in the US and easing Federal Reserve interest rates. Major players drove this activity; Coinbase led with six acquisitions, including the $2.9 billion purchase of Deribit. Ripple acquired four companies, notably Hidden Road for $1.25 billion and GTreasury for $1 billion. Kraken also reported five acquisitions, such as NinjaTrader and the $100 million purchase of Small Exchange to bolster its derivatives offerings.

(Source：Cointelegraph)