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

article-image

rsooll/Shutterstock modified by Blockworks

share

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:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Featured.png

Research

Helium stands at a pivotal moment in its evolution as a decentralized wireless network, balancing rapid growth, economic restructuring, and global expansion. With accelerated growth in domestic DAUs and Hotspots supporting its network, Helium is leveraging strategic partnerships and innovative proposals to scale internationally. The recent implementation of HIP 138, “Return to HNT,” has unified its token economy under HNT, simplifying participation and strengthening liquidity, while HIP 139’s phase-out of CBRS refocuses efforts on scalable Wi-Fi offload. Meanwhile, governance shifts under HIP 141 raise questions about centralization as Nova Labs consolidates control over the roadmap.

article-image

Dragonfly’s Rob Hadick discussed how the firm is approaching investments in the current market

article-image

The asset surged over the past seven days to reach its highest-ever weekly close on the SOL/ETH pair

article-image

Industry watchers note that SOL ETFs have attracted a fraction of the demand for bitcoin and ether ETFs

article-image

Tariff swings impact stock market and company outlooks, with Apple and NVidia likely to be affected by China tariffs

article-image

The team says an attacker minted unclaimed tokens from ZKsync’s 2024 airdrop

article-image

The MIT research-based protocol is live in private testnet — laying the foundation for decentralized RAM