Crypto M&A hits record $8.6 billion in 2025 as Trump’s regulatory stance spurs deals

Cryptocurrency mergers and acquisitions (M&A) concluded 2025 with a record $8.6 billion, a significant increase from $2.17 billion the previous year, according to the FT. This surge is largely attributed to a policy shift under the Trump administration, which introduced favorable regulatory developments like the GENIUS Act, establishing a federal framework for stablecoins and facilitating tokenized asset settlement. This support contributed to 267 deals, an 18% rise from 2024. The largest transactions included Coinbase's $2.9 billion acquisition of Deribit, Kraken's $1.5 billion purchase of NinjaTrader, and Ripple's $1.25 billion buyout of Hidden Road. Beyond White House support, legal experts note that institutions are also acquiring firms with existing licenses to expedite entry into crypto markets amid new global compliance rules like the EU’s MiCA framework.

(Source：CoinDesk)