Crypto M&A Surges 40 Billion Dollars This Year Driven By Institutional FOMO

This year has seen an unprecedented surge in crypto mergers and acquisitions (M&A), with over 40 billion-dollar deals closed, marking the most active period in crypto M&A history. According to Areta co-founders Karl-Martin Ahrend and Jan-Philip Grabs, institutional buyers are increasingly opting for acquisitions over organic growth strategies, driven by regulatory clarity and institutional FOMO.

The deal volume this year has already surpassed the combined total of all previous years, with trading infrastructure, staking, payments, and on-chain deals leading the charge. These acquisitions are strategic moves aimed at gaining regulatory licenses, institutional infrastructure, and competitive advantages, rather than merely expanding user bases.

One of the key drivers of this acquisition frenzy is the regulatory landscape. Trading platforms have become prime targets for their regulatory licenses and institutional infrastructure. For instance, Robinhood's acquisition of Bitstamp earlier this year was seen as a regulatory power play, providing instant access to dozens of jurisdictions and a turnkey institutional trading desk. Similar moves by Coinbase and Swift underscore the importance of compliance capabilities in the regulated future of crypto.

The consolidation in staking services is another significant trend. As proof-of-stake networks secure the majority of crypto’s value, control over validation operations has become a strategic imperative. Firms like Source Strategies are absorbing smaller validators to bring key operations in-house, aiming for vertical control, faster deployment, and future-proofing in a competitive arena.

Payment processors are also racing to own the entire stablecoin value chain, from issuance to settlement. Stripe’s acquisition of Preview and MoonPay’s European shopping spree reflect a clear pattern: companies are internalizing every step of crypto payments to capture this booming market. With nearly 80% of crypto businesses now using stablecoins for B2B transactions, these moves represent bets on crypto’s future as a mainstream payment rail rather than just a speculative asset.

Perhaps the most radical development is the rise of token-based acquisitions on blockchain ledgers. Enzyme’s all-token purchase of Microfinance exemplifies how decentralized organizations are rewriting the M&A playbook. However, these on-chain mergers face unique challenges, from community governance hurdles to untested legal ground, yet they point toward a future where blockchain-native dealmaking becomes commonplace.