Crypto M&A Activity Hits Record $8.6B Across 267 Deals In 2025
Cryptocurrency merger and acquisition activity reached $8.6 billion across 267 deals in 2025.
PitchBook data cited by the FT shows the total represents nearly quadruple the $2.17 billion recorded in 2024.
Deal volume increased 18% year-over-year.
The surge reflects regulatory clarity under the Trump administration and strategic positioning ahead of compliance requirements.
Major exchanges led consolidation targeting derivatives access, licensing and institutional infrastructure.
What Happened
Coinbase acquired derivatives platform Deribit for $2.9 billion in May, the largest crypto acquisition on record.
Kraken purchased retail futures platform NinjaTrader for $1.5 billion.
Ripple (XRP) acquired prime broker Hidden Road for $1.25…
