The cryptocurrency sector is wrapping up the year with an unprecedented total of $8.6 billion in mergers and acquisitions, as reported by the FT, showcasing a significant rise from $2.17 billion in the previous year.
This surge in deals is happening alongside a notable policy shift in Washington, where the Trump administration has actively supported the sector through a series of regulatory changes, including the GENIUS Act, which established a federal framework for stablecoins and facilitated the settlement of tokenized assets by institutions.
The backing from the White House contributed to a total of 267 deals, representing an 18% increase from 2024, the report indicates.
The most substantial deal for the year was Coinbase’s acquisition of crypto derivatives platform Deribit for $2.9 billion, marking a historic moment in the sector.
Close behind were Kraken’s $1.5 billion purchase of NinjaTrader and Ripple’s $1.25 billion acquisition of Hidden Road.
However, the influence of the White House is not the sole driver. Legal experts note that part of the buying frenzy has been spurred by a race for licenses.
As new global compliance regulations come into effect, including those concerning stablecoins and the EU’s MiCA framework, financial institutions are acquiring companies with existing licenses to accelerate their entry into crypto markets.
