Coinbase is shopping and Circle is in play. What’s driving the crypto M&A boom? – DL News
- Crypto M&A activity has picked up in the first half of 2025.
- Regulatory changes and FinTech’s embrace have made investors more comfortable with crypto.
Crypto heavyweights are on a buying spree.
Consolidation in the crypto industry is on pace to hit its highest level since the 2021 bull market, according to Pitchbook, which provided DL News with data going back to 2020.
That year, there were 243 mergers or acquisitions in crypto valued at a combined $13 billion.
There have been 97 deals valued at $5 billion through the first five-and-half months of 2025, putting the industry on a pace to possibly equal or best 2021.
Crypto analytics firm Messari put the figure even higher, with an estimated 116 deals worth more than $7.8 billion through the…
