Latest crypto M&A deals signal ‘the tide is shifting’
Crypto M&A developments could accelerate in Q4 and 2025, perhaps serving as a barometer for the sector’s trajectory
rsooll/Shutterstock modified by Blockworks
It’s been a busy week for crypto M&A — a signal the post-election sentiment shift could be a catalyst for even more such deals.
Architect Partners founder Eric Risley noted that crypto regulatory uncertainty in the US has put a damper on M&A activity, given the country’s “outsized influence” on that front.
But Donald Trump’s election victory has spurred crypto price momentum, in part due to industry expectations around greater regulatory clarity and a less antagonistic approach to the segment.
“It’s frankly too early to have a clear vision as to exactly what those regulations will look like or timing,” Risley said. “However, it’s clear the tide is shifting.”
Since hitting a peak in March, trading volumes have been roughly flat over the past six months. The number of crypto M&A deals shrunk from 50 during the second quarter to 35 in Q3, Architect Partners data shows.
“Perhaps we’re now at a new level of sustainable volume which is a major factor in the growth and profitability of trading-related crypto businesses,” Risley explained.
Six of the 22 crypto M&A deals so far announced in Q4 were revealed this week.
That includes two asset management-centric transactions shared yesterday: Bitwise’s buy of Ethereum staking provider Attestant and an intended merge between Arca and BlockTower. Then this morning, Crypto.com said it bought Fintek Securities, a brokerage service and trading company with an Australian Financial Services Licence.
And let’s not forget the other big deal last month (Stripe’s buy of Bridge), which Risley said “caught senior executive and board level attention across a broad array of crypto and traditional financial services companies.”
The tldr? Crypto M&A developments could accelerate in Q4 and 2025, perhaps serving as a barometer for the sector’s trajectory.
Get the news in your inbox. Explore Blockworks newsletters:
- Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
- Empire: Start your morning with the top news and analysis to inform your day in crypto.
- Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
- 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
- Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
- The Drop: For crypto collectors and traders, covering apps, games, memes and more.
- Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
