Crypto M&A Hits Record $8.6 Billion in 2025 Amid Regulatory Shifts
Crypto mergers and acquisitions reached a record $8.6 billion in 2025, a significant increase from the $2.17 billion recorded in 2024, according to the Financial Times. This surge was driven by a regulatory shift under the Trump administration and broader policy changes in Washington, which helped spur deal-making activity across the sector.
In 2025, there were 267 crypto transactions, marking an 18% rise from the previous year. Major deals included Coinbase's acquisition of Deribit for $2.9 billion, Kraken's purchase of NinjaTrader for $1.5 billion, and Ripple's acquisition of Hidden Road for $1.25 billion. Additionally, eleven crypto firms raised $14.6 billion through public listings and offerings.
Global licensing requirements, such as those for stablecoins and the EU MiCA framework, prompted financial institutions to acquire licensed crypto firms to accelerate market entry. The introduction of the GENIUS Act established a federal framework for stablecoins and enabled institutions to settle tokenized assets. Buyers actively pursued licensed targets to expedite regulatory compliance and gain faster access to crypto markets.
This wave of mergers and acquisitions reflects a broader global regulatory trend and policy environment, not solely the influence of the White House.
