Key Highlights:
- Crypto M&A hits $8.6 billion for the year 2025.
- This year’s M&A has been up significantly from 2024.
- Many of the mergers and acquisitions happened in the start of the year when the crypto industry was booming.
In 2025, companies in the crypto space bought or merged with other companies at a total value of more than $8.6 billion according to Bloomberg. This is the highest merger and acquisition value that has been ever recorded. Moreover, this single year’s M&A alone is worth more than the total merger and acquisition activity of the last four years combined.
This number indicate that bigger players are actively acquiring or merging with other companies. The aim behind this move is to strengthen the company’s position within the crypto space.
Favorable U.S. Policies and Market Conditions Fuel M&A Boom
PitchBook’s data show that big crypto companies became more excited about buying other companies in 2025. Three things that most probably drove this trend include:
- The U.S. introduced more crypto-friendly rules.
- Interest rates were cut.
- The crypto market began this year with a boom.
According to PitchBook analyst Ben Riccio, all of these reasons made crypto firms shift to the ‘growth mode’ and be on a lookout for acquisition opportunities. As the conditions were favorable, companies that had access to more money, wanted to expand their services and increase their market position through mergers and acquisitions.
Architect Partners Confirms Even Larger Deal Values
Another research firm, Architect Partners, used its own method and calculated crypto mergers and acquisitions. The number that came up was even bigger, $12.9 billion in 2025 till now.
When you compare this data with that of 2024, the difference is huge. This shows that the crypto industry is becoming the chosen industry and more companies are joining together or buying others to make profits.
Architect Partners’ numbers also indicate that deal-making in the industry is much bigger than what is publicly reported. Their estimate includes private deals and related agreements that do not always show up in headlines, proving just how active the industry has become.
Mega Deals Propel Industry Value Beyond Previous Records
Some of the biggest deals have been listed down as below:
- Coinbase buying Deribit for $2.9 billion: Coinbase purchased Deribit, a platform that is mainly used for options and derivatives trading, so it can offer more than just regular spot trading and attract advanced traders.
- Kraken buying NinjaTrader for $1.5 billion: By making this purchase, Kraken is trying to expand into a wide derivative market and is trying to boost income from retail traders.
- Ripple buying Hidden Road for $1.25 billion: Ripple strengthened its position by acquiring Hidden Road, a company that is known for providing secure trading and financing services to big investors.
If you total up the above said deals, it makes up for more than half of the total $8.6 billion M&A value, which indicates that huge acquisitions are being made by the biggest players, and there is a rapid consolidation happening within the industry.
Most of these acquisitions took place when the crypto market was booming in the early months of 2025. This was a comparatively a good time before the market crashed in October 2025. Strong confidence and clear regulations pushed firms to make aggressive deals, making 2025 a record year for acquisitions.
The trend indicates that the industry is maturing and big players are buying others to grow faster, add new technology and expand globally.
Future Outlook
From the data that has been presented by PitchBook and Architect Partner, it seems that the industry’s M&A is expected to rise in 2026, especially in areas like DeFi, blockchain infrastructure, and cross-border payments, though market ups and downs may slow down the process.
Also Read: UK Approves New Bill Defining Crypto as Property Under Law
Source: https://www.cryptonewsz.com/crypto-industry-m-a-hits-record-in-2025/
