Analysts recorded in 2021 a record number of mergers and acquisitions (M&A) transactions of cryptocurrency, financial and technology companies totaling about $ 6.1 billion. report The Block Research.
According to the researchers, over 197 acquisitions have been made so far. This is a 131% increase compared to last year, when the companies closed 85 deals.
The revival of M&A activity is explained by the fact that in this way crypto companies not only eliminate competitors, but also expand their own services.
For example, the largest American bitcoin exchange Coinbase acquired infrastructure solutions provider Bison Trails for an undisclosed amount at the beginning of the year. Cryptocurrency bank Galaxy Digital in May announced plans to buy financial services provider BitGo for about $ 1.2 billion. The deal is expected to close by the end of 2021.
Similar processes occur with traditional financial companies. Payment giant Mastercard announced its acquisition of analyst firm CipherTrace, and online stock broker Robinhood bought cryptocurrency trading platform Cove Markets in December.
“Non-cryptocurrency companies are taking strategic steps to take a defensive / offensive stance as dapps emerge,” said consulting firm Architect Partners in a letter.
Recall that in December it became known that the infrastructure developer for the metaverse and NFT InfiniteWorld will enter the Nasdaq exchange through a merger with SPAC Aries I Acquisition Corp.
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Analysts recorded in 2021 a record number of mergers and acquisitions (M&A) transactions of cryptocurrency, financial and technology companies totaling about $ 6.1 billion. report The Block Research.
According to the researchers, over 197 acquisitions have been made so far. This is a 131% increase compared to last year, when the companies closed 85 deals.
The revival of M&A activity is explained by the fact that in this way crypto companies not only eliminate competitors, but also expand their own services.
For example, the largest American bitcoin exchange Coinbase acquired infrastructure solutions provider Bison Trails for an undisclosed amount at the beginning of the year. Cryptocurrency bank Galaxy Digital in May announced plans to buy financial services provider BitGo for about $ 1.2 billion. The deal is expected to close by the end of 2021.
Similar processes occur with traditional financial companies. Payment giant Mastercard announced its acquisition of analyst firm CipherTrace, and online stock broker Robinhood bought cryptocurrency trading platform Cove Markets in December.
“Non-cryptocurrency companies are taking strategic steps to take a defensive / offensive stance as dapps emerge,” said consulting firm Architect Partners in a letter.
Recall that in December it became known that the infrastructure developer for the metaverse and NFT InfiniteWorld will enter the Nasdaq exchange through a merger with SPAC Aries I Acquisition Corp.
Subscribe to Cryplogger news on Telegram: Cryplogger Feed – the entire news feed, Cryplogger – the most important news, infographics and opinions.
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