The Volume of Deals in the Crypto Industry in 2025 Has Been Revealed
According to experts, 267 deals were completed in the crypto industry in 2025, representing an 18% increase compared to 2024. The total deal value of $8.6 billion exceeds last year’s figure by 300%, when contracts worth only $2.17 billion were concluded.
The largest deal in the history of the crypto industry was the acquisition of derivatives platform Deribit by U.S.-based crypto exchange Coinbase for $2.9 billion. Other major acquisitions this year included Kraken’s purchase of futures trading platform NinjaTrader for $1.5 billion, as well as Ripple’s acquisition of broker Hidden Road for $1.25 billion, analysts said.
According to Diego Ballon Ossio, partner at law firm Clifford Chance, financial market participants and crypto companies are seeking to acquire other firms in order to obtain licenses, particularly those compliant with the European Union’s MiCA regulation, which establishes unified rules for cryptoassets.
Ossio emphasized that demand for stablecoin-related companies will persist in 2026, as new regulatory regimes for this asset class are being developed in the United States and the United Kingdom.
Experts concluded that the growth in deal volume was driven by regulatory changes in the U.S. and the cessation of enforcement actions against crypto companies by the Securities and Exchange Commission (SEC).
Previously, analysts at trading firm Wintermute stated that investor attention is currently focused exclusively on two cryptocurrencies — Bitcoin and Ethereum.
See also: "Bybit exchange to cease providing services to residents of Japan"
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