crypto M&A reached .6 billion in 267 deals in 2025 vs. .17 billion in 2024; 11 cryptocurrency IPOs raised .6 billion globally, up from 0 million from four IPOs in 2024 (Nikou Asgari/Financial Times)

crypto M&A reached $8.6 billion in 267 deals in 2025 vs. $2.17 billion in 2024; 11 cryptocurrency IPOs raised $14.6 billion globally, up from $310 million from four IPOs in 2024 (Nikou Asgari/Financial Times)

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