Cicada Tech, an on-chain asset management platform, and Nasdaq-listed Linkage Global have signed a non-binding letter of intent for a merger and acquisition. The agreement, announced on December 1, 2025, involves Linkage Global acquiring 100% of Cicada's equity for $60 million. The transaction will include a $3 million cash payment, with the remainder settled through the issuance of Linkage Global Class A ordinary shares. Gary Yang, founder of Cicada Tech, highlighted the evolving financial landscape, emphasizing the integration of extensive crypto experience with professional financial management to advance Real Estate Investment Funds (RWA) and develop a future-oriented on-chain asset management industry.