The total volume of M&A deals in the crypto industry reached $8.6 billion in 2025, setting a new record for the sector. This is a significant increase compared to $2.17 billion in 2024 and was accompanied by 267 deals, an 18% rise over the previous year.
Record M&A Volume in the Crypto Industry
The growth in deal volume reflects both large individual acquisitions and an overall acceleration of interest in sector buyouts. The $8.6 billion figure includes deals of various sizes and strategic focuses, while the 267 transactions indicate broad market participant activity.
Impact of the Trump Administration on the Crypto Market
Part of the growth is linked to a shift in Washington’s political course: the Trump administration supported the sector with several regulatory initiatives, including the adoption of the GENIUS Act. The GENIUS Act established a federal framework for stablecoins and paved the way for institutional settlements in tokenized assets, effectively lowering barriers for some major players.
Largest Deals of 2025
Among the biggest deals in 2025 were several transactions that significantly influenced the overall M&A volume in the sector. For a deeper understanding of potential impacts on institutional demand, these events can be compared with market forecasts, such as in the Coinbase forecast.
- Coinbase acquired the Deribit platform for $2.9 billion — the largest deal of the year.
- Kraken purchased NinjaTrader for $1.5 billion.
- Ripple bought out Hidden Road for $1.25 billion.
Reasons Behind the M&A Growth
Besides regulatory initiatives, some acquisitions are explained by companies’ desire to obtain ready licenses and access to infrastructure. Financial organizations and crypto firms acquired companies with approved permits to accelerate market entry amid tightening regulations.
Growth was also influenced by changes in global stablecoin requirements and the implementation of rules like MiCA in the European Union, making valuable assets and licenses especially attractive for mergers and acquisitions. These factors collectively pushed companies toward strategic purchases.
Why It Matters
If you mine with anywhere from one to a thousand devices in Russia, the M&A growth itself does not directly change your operations, but it does affect the services and infrastructure market. Large deals can lead to changes in exchange and liquidity provider terms, impacting fund withdrawals, trading pair listings, and derivatives availability.
Moreover, consolidation of players and license transfers under major companies may alter registration and verification requirements on certain platforms, as well as affect fees and support for local withdrawal methods. For more on who is expanding corporate Bitcoin holdings, see the article on corporate Bitcoin ownership.
What To Do?
For miners in Russia, it’s important to monitor several practical points to minimize risks amid market and infrastructure changes. First, check where you store and how you withdraw funds: having backup withdrawal methods and controlled wallets reduces dependence on a single platform.
Second, keep in mind that acquisitions can change service terms, so regularly update contacts with exchanges and services used for crypto exchange or sales. Finally, don’t ignore compliance and licensing issues: in some cases, platform jurisdiction changes alter user rules.
- Duplicate withdrawal and storage methods to avoid downtime.
- Stay informed about platform rule changes and KYC/AML updates.
- Assess the reliability and track record of new service owners before storing large amounts.