Dragonfly: 2025 Will Definitely Be a More Active Year for Crypto M&A

On January 1, it was reported that Dragonfly General Partner Rob Hadick said, “2025 will definitely be a more active year for cryptocurrency MA, but the deal between Stripe and Bridge (the payments company Stripe has acquired the stablecoin platform Bridge for $1.1 billion in October of this year) is unique and unlikely to be replicated.”

Hadick expects fewer large MA deals in the stablecoin/payments space, with many payment service providers building their own platforms or establishing partnerships rather than making acquisitions. However, he expects at least one unicorn-sized deal in the space by 2025. Trading platforms, brokers, mining companies and data providers are key sectors for consolidation. Many of the larger companies in these categories have been looking at potential targets that might be interested in being acquired, but so far few have really been serious about pushing for consolidation and paying for the privilege.