Crypto M&A deals surpass $9B in 2026 despite market downturn

The total value of mergers and acquisitions in the global cryptocurrency industry has surpassed approximately 13 trillion won (about $9 billion) so far this year. This trend is driven by intensifying competition among large crypto firms and Wall Street financial companies to secure infrastructure and layer services. The key themes in these M&A cases are payments and infrastructure, highlighting a growing focus on functional financial rail services. Major M&A deals include: - Bullish → Equiniti: $4.2 billion - Mastercard → BVNK: $1.8 billion - Figure → Kiavi: $717 million - IREN → Mirantis: $625 million - Payward → Reap: $600 million - Payward → Bitnomial: $550 million - Robinhood → WonderFi: $180 million - Fireblocks → TRES: $130 million - Coincheck → 3iQ: $112 million - MoonPay → Dflow: $100 million - MoonPay → Sodot: $100 million - Mirae Asset → Korbit: $92 million - eToro → ZenGo: $70 million - AiFi → BlockStreet: $43 million