Despite the global financial market being shaken by President Trump's trade war policies and the crypto market value having evaporated by $845 billion (down 22%) since its peak in December 2024, some 'giants' in the industry are still making remarkable strides, going against the market with a series of M&A deals and huge fundraising efforts in 2025.
Large deals are heating up the market:
Ripple leads the wave of transactions with plans:
Acquisition of Hidden Road – a prime broker firm – for $1.25 billion.
Negotiating to acquire Circle with a valuation of up to $4.5 billion (though not officially confirmed and denied).
Galaxy Digital announced plans to list shares on Nasdaq on May 16, after filing for an IPO in April. CEO Michael Novogratz is behind this strategy.
Twenty One Capital is also in the mix, revealing plans to list through a SPAC (Special-Purpose Acquisition Company) backed by Tether, SoftBank, and a subsidiary of Cantor Fitzgerald – which has ties to the U.S. Secretary of Commerce.
Additionally, Zodia Custody – a joint venture of Standard Chartered and Northern Trust – is considering acquiring Tungsten Custody Solutions (UAE) to expand its digital asset custody operations.
Statistics show that the M&A market is accelerating:
Venture capital investment in crypto reached $7.2 billion in 2025, nearly hitting the $9.6 billion mark for the entire year of 2024.
88 M&A deals recorded since the beginning of the year, with a total value of up to $8.2 billion – nearly three times the transaction value of the entire previous year.
Despite pressure from Trump and the declining job market:
Experts had predicted that Trump's trade war with over 90 countries would slow down the IPO and M&A markets, negatively impacting investor sentiment.
Some major companies like Circle, Klarna, and Chime have temporarily halted their IPO plans due to instability from tax policies.
However, many large crypto companies like Ripple, Galaxy, and Twenty One are still pushing to expand, leveraging the restructuring market to gain an advantage.
Contact with crypto users:
While the overall market remains unstable and sensitive to macro factors like Trump's tax policies, large-scale M&A deals are signaling a positive outlook for the future of the crypto industry. Binance users and investors can track these M&A movements as important indicators of institutional confidence and long-term capital trends.
Risk warning: Investing in cryptocurrencies carries high risk, and the market may experience significant volatility due to global political and economic factors. This is not investment advice. Please consider carefully and conduct your own research before making a decision.
