The global cryptocurrency sector recorded a record $8.6 billion in merger and acquisition deals in 2025, driven by renewed confidence under the pro-crypto stance of the Trump administration.
According to the Financial Times, a total of 267 crypto-related deals were completed by 23 December, representing an 18% increase compared with the previous year.
The total value of deals surged nearly 300% from $2.17 billion in 2024, marking the strongest year on record for crypto sector consolidation.
Deregulation efforts in the United States helped restore confidence among traditional finance institutions that had previously stayed on the sidelines.
Analysts said.
Coinbase led dealmaking activity with its $2.9 billion acquisition of crypto options trading platform Deribit, the largest acquisition ever completed in the digital asset industry.
Kraken followed with a $1.5 billion purchase of futures trading platform NinjaTrader, strengthening its derivatives offering amid growing institutional demand.
Ripple also played a key role in consolidation after agreeing to acquire crypto-friendly prime broker Hidden Road in a deal valued at $1.25 billion.
Market observers said these high-profile transactions signalled a strategic push by established players to expand regulated market access and product coverage.
The surge in deal activity coincided with a significant rebound in crypto initial public offerings throughout the year.
The Financial Times reported that 11 crypto IPOs raised a combined $14.6 billion globally in 2025, a sharp rise from just $310 million raised by four listings in 2024.
Notable public debuts included Bullish, the crypto exchange and CoinDesk parent, which raised $1.1 billion, and stablecoin issuer Circle Internet Group, which secured more than $1 billion.
Crypto exchange Gemini also completed a public listing, raising $425 million and adding momentum to capital market activity in the sector.
Legal experts said regulatory clarity in Europe and the United States has accelerated dealmaking focused on licensing and compliance.
Traditional finance players and crypto companies are actively looking to acquire firms for their licences, particularly those aligned with MiCA rules.
Diego Ballon Ossio said.
Demand for stablecoin-related businesses is also expected to remain strong into 2026 as regulatory frameworks develop in the US and UK.
Companies will spend significant sums to remain compliant with new licensing regimes, often through acquisitions.
Charles Kerrigan said.
Despite strong deal activity, crypto markets cooled in the latter part of the year following sharp price corrections.
Analysts said the pullback in prices has not dampened strategic investment interest, with long-term positioning driving corporate activity.
Industry executives expect mergers, acquisitions and IPOs to remain a central growth driver for crypto markets heading into 2026.
At the time of reporting, Bitcoin price was $87,701.47.