Crypto MA Reaches 9.66 Billion, Deal Count Falls 25%
Crypto mergers and acquisitions (MA) reached a record 9.66 billion dollars in disclosed value in the first half of 2026, despite a 25% drop in announced deals to 87. This data from CryptoRank Research shows a 223% increase in disclosed value from the second half of 2025, while deal activity fell to its lowest since early 2025. The disparity between deal count and disclosed value is notable, with only 21 of the 87 announcements disclosing a value, representing 24%. The four largest deals accounted for 76% of the total value, with Bullish's acquisition of Equiniti for 4.2 billion dollars alone making up 43%. The median disclosed transaction value remained flat at 100 million dollars compared to H2 2025 and fell 20% from H1 2025. The shift in buyer composition towards public and regulated firms, which must disclose deal terms, contributed to the record. Mastercard's acquisition of BVNK for up to 1.8 billion dollars was completed this month, while the Equiniti deal is expected to close in January 2027. The largest category for acquisitions shifted to infrastructure, while Decentralized Finance (DeFi) deals decreased from 24 to 9.
-- Price
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