The crypto industry recorded a banner year for mergers, acquisitions and public listings in 2025, with dealmaking hitting a record $8.6 billion as a more accommodating regulatory stance in the United States encouraged investors and financial institutions to re-enter the sector. Key Takeaways: Crypto dealmaking hit a record $8.6 billion in 2025 as regulatory easing in the US revived investor and institutional interest. Mega-acquisitions led by Coinbase, Kraken and Ripple drove a sharp rise in mergers an ...