The number of crypto deals reportedly skyrocketed this year and hit a record total value of $8.6 billion, led by Coinbase’s record-breaking acquisition of Deribit. The crypto sector reportedly saw a record $8.6 billion worth of deals in 2025, as the crypto-friendly Trump administration brought confidence to crypto-focused mergers and acquisitions. The Financial Times reported on Wednesday that 267 deals were inked in the crypto industry up to Tuesday, an 18% increase from 2024. The $8.6 billion in deal value is a nearly 300% jump from last year, which saw $2.17 billion in deals, and the growth is expected to continue into 2026. Coinbase made the biggest acquisition of the year with its $2.9 billion purchase of the crypto options trading platform Deribit, the biggest-ever acquisition in crypto. Read more
Dragonfly’s Rob Hadick says “there’s a lot of room” in crypto for more than one blockchain as networks race to win market share of tokenized assets. Solana and Ethereum will both thrive in the tokenization race and neither blockchain will push the other out of the space, says Dragonfly general partner Rob Hadick. “They are both Facebook,” Hadick told CNBC’s “Squawk Box” on Wednesday, when asked which blockchain will gain market dominance like social media platform Facebook or fall behind like the once-popular MySpace. Hadick said that with growing interest in tokenization and increasing economic activity onchain, there’s room for multiple blockchains to coexist. Read more
Some Polymarket users reported that their accounts had been breached and drained, which the prediction market blamed on a third-party provider. Prediction markets platform Polymarket has pinned a series of reported user account breaches on a third-party login tool. In a post to the company’s Discord on Tuesday, Polymarket said that it had flagged and resolved a security issue that impacted “a small number of users,” after some had reported suspicious activity on their accounts. “The issue was caused by a vulnerability introduced by a third-party authentication provider,” Polymarket said. “Polymarket takes security extremely seriously, and the issue has been remediated.” Read more
Blockchain tokenization is radically expanding the definition of money, enabling anyone to trade, save and spend in virtually any asset they like, says Kraken’s Mark Greenberg. Blockchain tokenization is transforming money beyond fiat currencies such as the US dollar by allowing users to save and instantly move virtually any asset across platforms, said a Kraken executive. “I think we’re past the point where money only means fiat or your local currency,” Kraken head of consumer Mark Greenberg told CNBC on Wednesday, adding that “anything can be money” with tokenization. Kraken’s xStocks is one of several tokenized stock offerings to hit the market this year as crypto exchanges look to expand beyond offering crypto trading. Coinbase and Gemini have also begun to offer tokenized stocks and have pushed betting via prediction markets as another offering to hook users. Read more
Venture partners such as Pantera, Hash3 and Variant look back on a year of regulatory shifts and uneven markets, outlining crypto’s biggest winners and losers in 2025. After a year of regulatory change and uneven market performance, crypto investors are reassessing where value accrued in 2025. In a recent podcast, Pantera Capital partner Mason Nystrom, Hash3 co-founder Hootie Rashidifard and Variant partner Alana Levin identified incumbents, such as Robinhood, alongside stablecoin companies and prediction markets as this year’s top performers. According to Nystrom, incumbents benefited from acting once the regulatory environment became clearer. He pointed to Robinhood, which he said had taken a cautious stance toward crypto in recent years before moving more aggressively in 2025, adding that incumbents “have done an excellent job getting ahead of where the puck is skating” as clarity emerged. Read more
The listing follows Kyrgyzstan’s passage of crypto legislation, the launch of a new US dollar–pegged stablecoin backed by physical gold, and plans to build a national crypto reserve. Kyrgyzstan President Sadyr Japarov said a recently launched stablecoin pegged to the country’s fiat currency has been listed on cryptocurrency exchange Binance. In a Wednesday X post, Japarov said Kyrgyzstan's KGST stablecoin, pegged to the som, would contribute to the development of cross-border payments and deepen the country’s ties to the crypto ecosystem. Binance CEO Changpeng “CZ” Zhao wrote on social media that “many more” nation-backed stablecoins would be coming to the exchange. Zhao began advising the central Asian nation in April as part of an agreement to provide technical expertise and consulting services. Read more
Bitcoin options markets remain tilted toward bears despite US investors’ expectations of economic stimulus injections and semi-bullish outlook for 2026. Key takeaways: $30.3 billion in Bitcoin options will expire at year-end, with most call (buy) bets placed well above the $89,000 to $94,000 price range. Bearish strategies stay favored unless BTC breaks $94,000 as prices above $88,000 have erased over half of put (sell) option bets. Read more
As crypto, governments and Big Tech converge on digital identity, selective disclosure and zero-knowledge proofs are emerging as a privacy-first alternative to surveillance systems. For years, Ethereum co-founder Vitalik Buterin has advocated for privacy in the crypto space. Buterin argues that onboarding users alone is not enough, cautioning that widespread use of “walled gardens” would undermine the core purpose of decentralized systems. “The goal is not to onboard people to Ethereum. The goal is to onboard people to openness and self-sovereignty,” he recently wrote on a X post. Buterin is one of crypto’s most prominent advocates for privacy as an industry's core value, emphasizing individual protection from state and corporate surveillance and arguing that decentralization helps disperse power away from a few dominant actors. Read more