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.