THIS NEWSLETTER IS SPONSORED BY |  |  | Crypto M&A has reached an all-time high and it's not expected to stop surging any time soon | Quick Takes - The number of crypto M&A deals in 2021 is already double what it was in 2020.
- The larger trend reflects the overall maturity of the crypto industry, particularly the number of large firms with the capacity to buy up smaller ones.
| The number of merger and acquisition deals in the crypto market has hit an all-time high this year. And industry insiders don't expect the pace of deal-making to slow down any time soon.
Data provided by Architect Partners shows that 126 crypto merger and acquisition (M&A) deals have occurred this year, more than double the count for 2020. In total, the average deal size in 2021 has been $629 million, according to Architect Partners.
"The market is certainly hot," said Ryan McCulloch, an analyst at Architect.
That average is skewed somewhat by large special purpose acquisition company (SPAC) deals, which have swept the market. Crypto trading platform Bullish, for instance, is expected to tap the public markets via the acquisition deal at a valuation above $9 billion. Bakkt is expected to go public via a SPAC before the end of the year at a multi-billion valuation.
But most of the deal activity has been concentrated in firms focused on crypto investing and trading. There have been 42 deals in that sector, followed closely by the mining and staking category, which saw 35 deals. | | | Notorious art forger Wolfgang Beltracchi enters the NFT world | Wolfgang Beltracchi, one of the most infamous art forgers of all time, has entered the unforgeable world of non-fungible tokens (NFTs). Beltracchi has set up a new project, dubbed "The Greats," a collection of 4,608 NFTs on the Ethereum blockchain. | Binance shuts down derivatives trading in South Africa | Global crypto exchange Binance is cutting down its crypto trading offerings in South Africa. On October 8, Binance published a blog post announcing the immediate end to futures, options, margin and leveraged trading for users in South Africa. Users with open positions will have until January 6 to close them. | South Korean financial regulators move forward on crypto taxation and exchange oversight | According to a report this week from the Korea Times, South Korea's financial leadership is fighting to implement crypto taxation on time. The Finance Ministry has already pushed back a 20% tax on gains of over 2.5 million won ($2,100 USD) from October 1 to January 1. | | | THIS NEWSLETTER IS BROUGHT TO YOU BY | You may be wondering:
Why are fellow digital asset trading pros choosing to run their operations on Fireblocks?
How can Fireblocks streamline my operations?
Should I be on Fireblocks too?
Let us show you. | | | On average, the Q3 bitcoin mining production of Riot, Marathon, Bitfarms, Hut8, Argo, and HIVE is about 82% higher than their Q2 numbers, thanks to their equipment expansion and waning competition from Chinese miners after the country's recent crackdown. | | | What's Next in Crypto and Payments | Crypto has become both a cultural and technological phenomenon—with a flurry of game-changing innovations (such as stablecoins and DeFi), surging digital currency values, and even professional athletes getting paid in Bitcoin.
If your head is spinning from the seemingly endless barrage of crypto headlines, you're not alone. That's why we put together a webinar to help you cut through the noise and discover what's truly worth knowing about where crypto is heading.
Panelists: Lily Glazer, Blockchain/NFT Strategist, Manchester United
Michael McCaffrey, CEO, The Block
Sina Nader, COO, FTX US
AJ Shanley, Global Head of Crypto Solutions, Visa | | | Digital Assets Can Do It Better | How can our industry defend against rising scrutiny, forthcoming legislation and agency rule-making? The same way we have for the past decade; show them that crypto and digital assets offer fundamentals that are simply better than the alternative. | | | - Chingari, an Indian short-form video sharing platform, announced Friday that it raised $19 million in venture funding and plans to launch its own social token, $GARI, on the Solana blockchain. Individuals can use $GARI to buy or sell videos on the platform — which will all become NFTs on the Solana blockchain.
- Infinity, a new NFT marketplace, says it wants to be an anti-establishment rival to the OpenSea and is calling itself the "FTX of NFTs."
- NFT marketplace selling 'fantasy equity' shuts down one day into open beta testing.
| | | You are receiving this e-mail because you are subscribed to The Block's free newsletter. If someone shared this newsletter with you, you can easily subscribe to receive it in your inbox here. If you're looking for even more content, we have a separate newsletter for The Block Research, which you can sign-up for here. | | | | |
No comments:
Post a Comment