Notable merger and acquisition deals in crypto Startups

The cryptocurrency industry has seen some significant mergers and acquisitions (M&A) over the years, with several high-profile deals that have shaped the market. Here are some of the largest crypto M&A deals.

Largest crypto merger and acquisition deals in crypto Startups:

CoinMarketCap was acquired by Binance for around $400M (2020)

Binance is the world’s largest cryptocurrency exchange, known for its wide range of services, including trading, investing and more acquired CoinMarketCap a leading website for tracking cryptocurrency prices and market data, providing users with valuable information about various crypto.

Poloniex acquired by Circle for ~$400M (2018)

Circle is a financial technology company that focuses on blockchain-based payments and investments. It is the creator of USDC, a stablecoin pegged to the US dollar. They acquired Poloniex, a popular cryptocurrency exchange.

Bison Trails acquired by Coinbase for $457M (2021)

Coinbase is one of the largest cryptocurrency exchanges in the U.S., offering a platform for buying, selling, and storing crypto acquired blockchain infrastructure company Bison Trails.

Coinbase acquired FairX for $275M (2022)

Coinbase is one of the largest cryptocurrency exchanges in the U.S., offering a platform for buying, selling, and storing crypto acquired FairX a derivatives exchange. This acquisition allowed Coinbase to enter the derivatives market, expanding its product offerings for traders.

Tagomi was acquired by Coinbase for $41.79 M (2020)

Coinbase is one of the largest cryptocurrency exchanges in the U.S., offering a platform for buying, selling, and storing crypto acquired Tagomi, a trading platform for institutional investors.

Bitstamp acquired by Robinhood for ~$200M (2024)

Robinhood is a well-known trading platform that allows users to trade stocks and cryptocurrencies acquired Bitstamp a global cryptocurrency exchange to expand outside of the US

Coins.ph sold to Wei Zhou for ~$200M (2022)

Coins.ph is a popular cryptocurrency wallet and exchange in the Philippines. It was sold to ex-Binance CFO Wei Zhou.

CryptoPunks / Meebits acquired by Yuga Labs for $250M (2022)

Yuga Labs is known for creating popular NFT collections like CryptoPunks and Bored Ape Yacht Club. By acquiring these collections, Yuga Labs aimed to expand its influence in the NFT space.

Hermez Network acquired by Polygon for $250M (2021)

Polygon is a layer-2 scaling solution for Ethereum that aims to improve transaction speeds and reduce costs. They acquired ZK-rollup project the Hermez Network

Coinbase acquired Unbound for $258M (2022)

Coinbase is one of the largest cryptocurrency exchanges in the U.S., offering a platform for buying, selling, and storing crypto acquired Cryptographic Security Firm Unbound

Metaco was acquired by Ripple for $250M (2023)

Ripple the leading provider of cross-border payment and digital asset custody solutions acquired Swiss digital asset custodian and tokenization provider Metaco.

First Ledger Corp (Bitbuy) acquired by WonderFi for $161.8M (2022)

WonderFi is a Crypto aggregating platform acquired Bitbuy. The acquisition of Bitbuy allows WonderFi to expand its reach in Canada’s market.

GRIID was acquired by CleanSpark for $155M (2024)

CleanSpark specializes in Bitcoin mining acquired GRIID an infrastructure company operating bitcoin mining facilities.

Desiweminer was acquired by Bitdeer for $140M (2024)

Bitdeer a world-leading technology company for blockchain and high-performance computing acquired a fabless crypto ASIC design company Desiweminer in an all-stock transaction

Earn.com was acquired by Coinbase for ~$100M (2018)

Coinbase acquired Earn.com which lets users send and receive digital currency for completing tasks.

Crypto Facilities acquired by Kraken for ~$100M (2019)

Crypto exchange Kraken acquires Crypto Facilities an exchange and index provider regulated by the Financial Conduct Authority in the U.K

Bottlepay purchased by NYDIG for ~300M (2021)

NYDIG provides Bitcoin investment solutions and aimed to enhance payment options through Bottlepay’s platform. This acquisition allows NYDIG to expand its services into microtransactions using Bitcoin, making it easier for users to spend their digital assets.

The Block was acquired by Foresight Ventures for $70M (2023)

The Block is a research and news organization focused on the crypto industry, acquired by Foresight Ventures to strengthen its media presence. This deal helps Foresight Ventures gain valuable insights into market trends while enhancing The Block’s resources for reporting.

Bullish purchased Digital Currency Group (parent of CoinDesk) for ~$70-80M (2023)

Bullish purchased Digital Currency Group. This deal integrates media with trading platforms in the crypto ecosystem, allowing Bullish to leverage CoinDesk’s influence in the industry.

Opensea acquired Gem (2022)

OpenSea acquired Gem, an NFT marketplace aggregator that allows users to buy NFTs across multiple platforms in a single transaction.

These big deals in the crypto world show that companies are looking for ways to strengthen their position and offer better products. By merging or acquiring other businesses, they can provide more options and improve the experience for their customers.

M&A deals with strong returns on investment attract more funding for crypto startups. The crypto industry is both evolving and finding its product-market fit and regulatory fit, with founders working to solve problems in various areas using the power of crypto. The startup journey is always challenging, especially in an emerging space like crypto. M&A deals in the industry serve as proof, if not the only proof, that there is an opportunity for wealth creation for founders and investors by solving problems and supporting a borderless economy.

Note: All acquisition figures mentioned are publicly reported and should not be considered as official transactions between companies.