Crypto dealmaking hit a record $8.6bn in 2025, driven by supportive U.S. policy under Donald Trump, including friendlier regulators, dropped lawsuits and plans for a national crypto reserve.

Deal activity stayed strong despite Bitcoin falling from nearly $126,000 to around $90,000, with market participants saying price moves have not derailed talks.

Momentum is expected to continue into 2026, led by licence-driven and compliance-related acquisitions, especially under the EU’s MiCA rules.