Crypto Dealmaking Surges to $8.6B as Policy Winds Shift
Dealmakers are sprinting back into crypto. A wave of policy optimism has unlocked a torrent of capital—$8.6 billion worth—as investors bet the regulatory winter is finally thawing.
The Regulatory Thaw Ignites Capital Flows
Forget the doom-and-gloom headlines. Institutional checkbooks are opening again, fueled by clearer frameworks from key jurisdictions. It’s not about wild speculation anymore; it’s strategic positioning in a market that’s suddenly looking investable. The smart money isn't waiting for permission—it's building.
Mergers, Acquisitions, and Strategic Plays
The activity isn't just trading. It's consolidation. Established players are snapping up innovative tech stacks, while traditional finance giants are making their long-anticipated moves through acquisitions and partnerships. The landscape is being redrawn in real-time, with every deal signaling deeper market maturity.
A New Phase for Digital Assets
This isn't a retail-driven pump. The scale and nature of the deals point to a fundamental shift: crypto is being institutionalized. Whether it's infrastructure plays, tokenization platforms, or compliance tech, the capital is chasing the foundational layers of the next financial system. Of course, some Wall Street veterans are calling it 'fear of missing out' dressed up as strategy—a classic finance move.
The message is clear. After years of uncertainty, capital has found its catalyst. The building phase is accelerating, and the next cycle will be built by those who placed their bets today.
Crypto deals surge, reaching the highest levels this year
Coinbase secured a leadership position with the major acquisition of Deribit for approximately $2.9 billion, marking the most significant acquisition in the crypto industry to date.
Meanwhile, apart from the leading cryptocurrency exchange, other notable mergers included Kraken’s acquisition of futures trading platform NinjaTrader in a deal valued at around $1.5 billion. Ripple also struck a $1.25 billion agreement to acquire Hidden Road, a global credit network and institutional prime broker that supports the cryptocurrency industry.
This great achievement in the crypto ecosystem has been attributed to US President Donald Trump’s move to pave the way for opportunities for the crypto community in the United States. Some of the efforts TRUMP implemented included imposing several deregulation measures and withdrawing regulatory lawsuits. This decision, in turn, prompted traditional financial institutions to make significant investments in the sector.
Reports also confirmed that approximately $14.6 billion was collected from 11 initial public offerings (IPOs) linked to crypto worldwide. This finding illustrated a major surge from $310 million raised in 2024 via four IPOs.
On the other hand, analysis regarding the highly anticipated IPOs this year was also drawn. It was discovered that Bullish, the digital asset platform, a major crypto exchange and tech firm popular for institutionally-focused crypto trading, was the most long-awaited IPO this year which collected $1.1 billion, followed by Circle Internet Group, a global financial technology firm known for issuing the popular USD Coin (USDC) stablecoin, that purchased over $1 billion; and lastly, Gemini, another significant crypto exchange that gathered $425 million.
Diego Ballon Ossio, a partner at the law firm Clifford Chance, weighed in on the situation. Ossio noted that traditional finance firms and crypto-related businesses are actively targeting companies for their licenses, particularly those recognized by authorities for strictly adhering to the EU’s MiCA regulations. He also acknowledged that there is a high possibility that this trend WOULD continue in 2026.
Analysts predict that demand for stablecoin firms will increase next year
Reports indicate that several analysts predict that demand for stablecoin firms will continue to escalate in 2026, driven by the adoption of new crypto-friendly regulations in the US and the UK.
This forecast was made after Charles Kerrigan, a partner at the CMS law firm, stated during an interview that firms will make considerable investments to remain compliant with the new licensing rules, mostly through acquisitions.
Kerrigan also predicted that newly adopted crypto rules in the United States would prompt traditional finance companies to begin exploring the industry, resulting in an increasing number of mergers and acquisitions.
Interestingly, this crucial year for crypto deals unfolds despite the crypto market’s downturn towards the end of the year, with BTC experiencing a drastic decrease of more than 30% from its all-time high of over $ 126,000, set in early October.
Currently, analysts have observed that the cryptocurrency has remained relatively unchanged over the last 24 hours, with a level of just below $88,000. This level was attained after it recovered from an intraday low of almost $86,500.
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