Crypto M&A volume hits record $12.9B this year

Cryptocurrency mergers and acquisitions (M&A) have reached a record $12.9 billion this year, Bloomberg reported. The report cited data from boutique M&A consulting firm Architect Partners for the $12.9 billion figure, while data from PitchBook showed a total of $8.6 billion in crypto-related M&A as of Nov. 20. This year's volume represents an approximately fivefold increase from last year. Bloomberg noted that major companies pursued aggressive acquisition strategies amid a combination of interest rate cuts in the first half of the year, increasing regulatory clarity, and a bull market. However, the report added that this momentum has been rapidly declining due to recent price drops.