Crypto industry mergers and acquisitions (M&A) reached a record $10 billion in the third quarter, marking a more than 30-fold increase from the previous year, according to data from Architect Partners. This surge is highlighted by FalconX's acquisition of 21shares, reflecting a trend of crypto firms entering traditional investment channels through regulated products. The easing of regulatory barriers has prompted Wall Street giants to enter the crypto space, compelling existing players to enhance their competitive strategies.