Over the last two years, 354 acquisitions have occurred in the crypto industry. During the bull market in 2021, tactical acquisitions were a popular method for crypto firms to expand. The nature of purchases has changed during this bear market as the strongest crypto companies use the opportunity to make distressed M&As and asset acquisitions.
The exchanges have been the top acquirers in the crypto industry over the last two years. Coinbase has acquired eight companies, FTX six and Gemini five.