Why crypto M&A deals in 2026 are expected to surpass record $37bn

Core Insights - The crypto dealmaking in 2026 is projected to exceed the record $37 billion in transactions from 2025, with expectations of increased activity driven by regulatory clarity and market conditions [1][3]. Group 1: Market Performance - Publicly disclosed crypto M&A transactions surged over sevenfold in 2025, reaching $37 billion, significantly surpassing the anticipated $30 billion [3]. - The total deal volume in 2025 increased by 74% year-on-year, totaling 356 transactions, with 39 deals exceeding $100 million and 17 surpassing $500 million [3]. - The overall crypto market achieved a new all-time high of $4.3 trillion in October 2025, contributing to the surge in M&A activity [4]. Group 2: Investment Trends - Traditional financial institutions are particularly interested in the stablecoins and payments sectors within the crypto space [2]. - Venture capital investments in crypto projects doubled to over $20 billion in 2025 compared to 2024, indicating a robust interest in the sector [4]. Group 3: Future Expectations - M&A activity is expected to remain robust even in risk-off scenarios, as major exchanges and infrastructure players possess strong balance sheets and significant M&A potential [5]. - A shift towards "bridge" M&A transactions is anticipated, where traditional firms acquire crypto capabilities instead of developing them internally [5]. - Deal terms are expected to become more risk-managed, with buyers favoring cautious structures and payment profiles [6].