In 2025, the cryptocurrency sector is projected to see a record total value of mergers and acquisitions reaching $8.6 billion, led by Coinbase's $2.9 billion acquisition of Deribit .
According to the Financial Times, the surge in trading activity is driven by a more crypto-friendly policy environment in the United States, fostering greater confidence among traditional financial institutions and companies to participate.
- The value of crypto transactions in 2025 is projected to reach $8.6 billion, an increase of nearly 300% compared to 2024.
- Coinbase's $2.9 billion acquisition of Deribit has been described as the largest acquisition in the history of the crypto industry.
- The amount of money raised through initial public offerings (IPOs) by crypto companies is also expected to increase significantly in 2025.
The value of mergers and acquisitions in the crypto sector is projected to reach $8.6 billion in 2025.
As of December 23, 2025, the cryptocurrency industry is estimated to have signed 267 deals with a total value of $8.6 billion, an 18% increase in number compared to 2024.
The Financial Times reported that the total value of $8.6 billion represents a nearly 300% increase compared to the previous year, when 2024 recorded $2.17 billion. The report also predicted that this upward trend could continue into 2026, as many companies prioritize scaling up through the acquisition of platforms, licenses, and operational capabilities.
The policy environment in the United States is XEM as a factor that strengthens confidence.
The article states that President Donald Trump has promoted policies to reduce regulatory barriers and lessen litigation pressure in the crypto sector, thereby making traditional financial institutions more confident in investing in and participating in the ecosystem.
Coinbase leads the pack with its $2.9 billion acquisition of Deribit.
Coinbase is credited with making the biggest deal of 2025 when it acquired the crypto options trading platform Deribit for $2.9 billion.
According to the Financial Times, this is also the largest acquisition ever recorded in the cryptocurrency industry. The scale of the deal shows that large businesses are focusing on the Derivative market, where the demand for hedging and leveraged trading is often higher than for spot trading.
Other major deals include Kraken and Ripple.
Other notable deals include Kraken acquisition of the Futures Contract platform NinjaTrader for $1.5 billion, and Ripple reportedly reaching a $1.25 billion agreement to acquire Hidden Road, a leading crypto-friendly broker.
Initial public offerings (IPOs) by crypto companies are expected to surge in 2025.
The Financial Times reports that the total amount raised globally from 11 initial public offerings (IPOs) by crypto companies is expected to reach $14.6 billion in 2025.
This figure represents a significant increase compared to 2024, when only $310 million was raised from four initial public offerings (IPOs). Some notable deals include Bullish (the parent company of CoinDesk) raising $1.1 billion, Circle Internet Group raising over $1 billion, and Gemini raising $425 million.
The demand for licensing and compliance with the MiCA framework in Europe is projected to continue into 2026.
Law firms are quoted as saying that many parties are seeking to acquire the business for its operating license, particularly in the European Union under the Cryptoasset Markets Regulation Framework, commonly known as MiCA.
Diego Ballon Ossio, a partner at Clifford Chance, said that traditional financial institutions and crypto companies are actively seeking acquisition targets to obtain licenses, especially those that meet MiCA requirements. The report also predicts that demand for stablecoin companies could continue into 2026 as the US and UK develop new regulatory regimes.
"Companies will spend a lot of money to maintain compliance with the new licensing regimes," including through acquisitions.
– Charles Kerrigan, partner at CMS, Financial Times
Bitcoin prices cooled down at the end of the year, but mergers and acquisitions remained active.
The article states that the market cooled down towards the end of the year, with Bitcoin falling more than 30% from its peak of over $126,000 in early October.
Bitcoin has been trading sideways over the past 24 hours, hovering just below $88,000, after bouncing from a daily Dip near $86,500. This development suggests that business acquisitions may be driven by long-term strategies such as product expansion and compliance enhancements, rather than simply chasing short-term price fluctuations.
Frequently Asked Questions
Why will the value of mergers and acquisitions in crypto increase sharply in 2025?
The article suggests that a more favorable policy environment in the United States has improved confidence, while crypto businesses and traditional financial institutions are looking to acquire companies to expand their products, market share, and licensee ownership.
What is the biggest deal being talked about in 2025?
Coinbase acquired Deribit for $2.9 billion, described as the largest acquisition ever in the cryptocurrency industry.
What other notable deals were involved?
The Financial Times reported that Kraken acquired NinjaTrader for $1.5 billion and Ripple reached a $1.25 billion agreement to acquire Hidden Road.
Why can the MiCA framework in Europe facilitate mergers and acquisitions?
The content indicates that many parties are seeking to acquire companies for licenses and compliance capabilities, particularly those that meet the requirements of the Cryptoasset Markets Regulation Framework, commonly known as MiCA.
How would you describe the Bitcoin price movement at the end of the year?
The article notes that Bitcoin has fallen more than 30% from its peak above $126,000 in early October, and in the last 24 hours traded around just below $88,000 after hitting a daily Dip near $86,500.
