Crypto mergers and acquisitions reached a new peak of $8.6 billion in 2025. Major deals include Coinbase acquiring Deribit for $2.9 billion, Kraken purchasing NinjaTrader for $1.5 billion, and Ripple acquiring Hidden Road for $1.25 billion. The surge in M&A activity is linked to regulatory stances introduced during Trump’s administration that have encouraged deal-making in the crypto sector.