According to ChainCatcher, citing the Financial Times, the global crypto industry completed 267 mergers and acquisitions in 2025, totaling $8.6 billion, nearly four times the number in 2024, setting a new record.
The Trump administration prioritized crypto as a national priority, pushing for deregulation, the withdrawal of lawsuits, and the establishment of a national crypto reserve, fueling a capital influx. Coinbase's $2.9 billion acquisition of Deribit was the largest deal of the year, while Kraken and Ripple acquired NinjaTrader and Hidden Road, respectively. A total of 11 crypto IPOs raised $14.6 billion throughout the year. The M&A boom is expected to continue in 2026 due to compliance pressures and the implementation of stablecoin regulations.
