The Trump administration’s friendlier stance towards cryptocurrencies and recent concessions from the U.S. Securities and Exchange Commission (SEC) have prompted a flurry of dealmaking among major players in the industry.
Figment Seeks up to $200 Million in New Acquisitions Amid Industry M&A Spree
9 May 2025 - 15:51 CEST
Figment pushes acquisition strategy
Toronto-based Figment, a provider of blockchain staking services, is among the latest to announce a shopping expedition. CEO Lorien Gabel has set an ambitious target of $100-$200 million in acquisitions to support international expansion, according to recent reporting by Bloomberg. The company is seeking to deepen engagement across “high-growth” ecosystems like Cosmos and Solana, executives have said on social media.
Figment says it oversees about $15 billion in staked assets and has about 150 employees. The company enables protocol staking – a process in which users can earn rewards by holding and “staking” their tokens in a blockchain network.
Figment’s announcement follows Ripple’s agreement to purchase prime brokerage and financial services firm Hidden Road for $1.25 billion and Kraken’s $1.5 billion deal to acquire the trading platform NinjaTrader.
U.S. policy decisions opening doors for new deals
A recent U.S. Federal Reserve decision rescinding key supervisory regulation that had restricted banks’ involvement with cryptocurrencies may also have helped prepare the ground for the surge in deals.
Industry experts also point to the arrival of crypto-ally Paul Atkins as SEC Chairman as a bellwether of regulatory clarity that could prompt further expansion, investment, and dealmaking within the crypto world following the scrutiny of the Biden years.
