The cryptocurrency sector saw a record $8.6 billion in mergers, acquisitions, and investments in 2025, marking an 18% increase from 2024, according to FT. A total of 267 deals were completed, with the transaction volume nearly quadrupling compared to the previous year. Major deals included Coinbase's $2.9 billion acquisition of Deribit, the largest in industry history, Kraken's $1.5 billion purchase of NinjaTrader, and Ripple's $1.25 billion acquisition of Hidden Road.