In 2025, cryptocurrency mergers and IPO activities surged, with over 265 transactions totaling $8.6 billion. Eleven companies went public, raising $14.6 billion. The growth was driven by an improved regulatory environment and strong interest from institutional investors. Industry leaders from companies like Coinbase, Pantera, and Dragonfly emphasized their focus on sustainable revenue growth and product-market fit, and predicted that in 2026, exchanges, stablecoin companies, and infrastructure providers would continue to grow. Additionally, increased participation from traditional enterprises and the expansion of other liquidity channels such as SPACs are expected to persist.
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In 2025, cryptocurrency mergers and IPO activities surged, with over 265 transactions totaling $8.6 billion. Eleven companies went public, raising $14.6 billion. The growth was driven by an improved regulatory environment and strong interest from institutional investors. Industry leaders from companies like Coinbase, Pantera, and Dragonfly emphasized their focus on sustainable revenue growth and product-market fit, and predicted that in 2026, exchanges, stablecoin companies, and infrastructure providers would continue to grow. Additionally, increased participation from traditional enterprises and the expansion of other liquidity channels such as SPACs are expected to persist.