Crypto M&A hit a 5-year high in 2025. @DWFVentures investigates what's driving it: → TradFi firms pushing into digital assets → Companies acquiring licenses rather than building from scratch → Clearer regulatory frameworks removing friction Three categories dominated, accounting for 96% of deal value ($42.5B+): • Investing & trading • Brokers & exchanges • Stablecoins & payments @Coinbase, @krakenfx, and @Ripple have been the most aggressive acquirers, spanning multiple categories. Companies are on a quest to become the "everything app", with a key focus on bringing onchain to the masses. Acquiring legacy and innovative dApps as a strategy could be a reason for increased M&As. twitter.com/DWFLabs/status/203...