Crypto staking company Figment pursues acquisition deals worth between $100 million and $200 million with smaller providers in the industry.
Firing Up the crypto Acquisition Hunt: Figment Chases Blockchain Gems
Figment, a prominent player in the crypto staking scene, has declared its intention to snap up some juicy targets in the blockchain and cryptocurrency market. According to a recent Bloomberg scoop, the company is eyeing deals ranging from $100 million to a hefty $200 million, as crypto mergers heat up.
The crypto staking titan has its sights set on projects boasting a robust regional presence, preferably in Asia or South America. Moreover, the company is keen on projects that have carved out a formidable niche for themselves in significant blockchain ecosystems like Cosmos (ATOM) or Solana (SOL).
As revealed in the report, Figment's acquisition funds are reserving a spot between the $100 million and $200 million mark. This Canada-based staking powerhouse currently employs around 150 individuals and oversees crypto assets worth a staggering $15 billion. With the U.S. regulatory landscape potentially opening up to Ethereum ETFs, the company aims to expand its footprint stateside.
Lorien Gabel, Figment's Co-Founder and CEO, shared that the company currently has no intentions of securing additional funding or being acquired by a bigger firm. Instead, it's focusing on gobbling up smaller industry players.
"We've got term sheets out, and we're actively seeking to absorb smaller providers," Gabel confirmed.
Kraken Makes a Move, Q1 2025 Revenue Soars 19% YoY
Figment's acquisition spree mirrors a broader trend in the crypto industry, with crypto mergers and acquisitions on the rise since Trump's presidential victory. Architect Partners' data demonstrate that crypto M&A value has surged past the $2 billion threshold, hitting record highs in Q1 of 2025.
Recent acquisitions include Ripple's acquisition of crypto broker Hidden Road for a whopping $1.25 billion, Kraken's $1.5 billion acquisition of futures trading platform NinjaTrader, and Phantom's purchase of NFT data platform Simple Hash in late February.
Previous reports indicated that Coinbase is in advanced talks to acquire leading crypto derivatives exchange Deribit. Kraken has also expressed interest in Deribit's purchase, though the final outcome remains uncertain.
[1] Bloomberg report on Figment's acquisition plans[2] CoinDesk article on Figment raising $40 million[3] CoinDesk article on crypto M&A activity in Q1 2025[4] Bloomberg article on Trump's presidency and crypto M&A[5] CoinDesk article on Solana's performance[6] Bloomberg article on Kraken's NinjaTrader acquisition[7] CoinDesk article on Coinbase-Deribit acquisition talks
- Figment, known for its prominence in the crypto staking scene, is actively pursuing acquisitions, aiming to spend between $100 million and $200 million, as per a recent Bloomberg report.
- The company is particularly interested in projects with a strong regional presence, such as those in Asia or South America, and those thriving within significant blockchain ecosystems like Cosmos (ATOM) or Solana (SOL).
- Figment, based in Canada, currently manages crypto assets worth $15 billion and is poised to expand its footprint in the US as Ethereum ETFs become a possibility.
- According to the CEO, Lorien Gabel, Figment doesn't seek additional funding or acquisition by a larger firm, but rather intends to absorb smaller industry players.
- The cryptocurrency industry is witnessing a surge in mergers and acquisitions, with Architect Partners' data showing a record high of crypto M&A value exceeding $2 billion in Q1 of 2025.
- Notable acquisitions in the crypto space include Ripple's acquisition of Hidden Road, Kraken's purchase of NinjaTrader, and Phantom's acquisition of Simple Hash.
- Coinbase is reportedly in advanced talks to acquire Deribit, a leading crypto derivatives exchange, while Kraken has also expressed interest, although the outcome is uncertain.
- Bloomberg's report on Trump's presidency provided insights into the rise in crypto M&A activity since his election.
- Figment, with around 150 employees, has recently raised $40 million, as revealed in a CoinDesk article.
- Additionally, Solana's performance has been spotlighted in a CoinDesk article, highlighting its significance in the blockchain ecosystem.
- The increasing trend in crypto M&A is facilitating a shift in business and finance toward blockchain technology, as reported in general-news articles. These acquisitions represent a strategic move for companies looking to strengthen their positions in the rapidly evolving crypto market.
