Crypto staking firm Figment is pursuing acquisitions of smaller blockchain companies, targeting deals between $100 million and $200 million. They seek to expand into Asia and South America and establish a presence in major blockchains. Figment currently manages about $15 billion in staked assets but has no plans to raise new funding or sell. The trend of mergers in the crypto sector has surged recently, with several notable multi-billion-dollar acquisitions taking place.
Figment, a prominent crypto staking company, is making headlines with its intention to acquire smaller firms within the blockchain sector, aiming for deals between $100 million and $200 million. This comes as a wave of mergers and acquisitions sweeps the crypto industry, driven by recent trends reflecting increased market interest. A Bloomberg report outlined Figment’s ambition to capture crypto projects primarily located in Asia and South America, alongside those that have a strong foothold in influential blockchain networks such as Cosmos (ATOM) and Solana (SOL).
Currently, Figment boasts a workforce of around 150 employees and manages staked crypto assets valued at approximately $15 billion. The Canada-based firm is eyeing an expansion into the U.S. market, contingent on regulatory decisions to allow staking in Ethereum ETFs. Figment’s Co-Founder and CEO Lorien Gabel stressed that the company is focusing exclusively on acquisitions, rather than seeking external investments or a buyout from a larger firm. Gabel stated, “We have term sheets out and we’re actively looking to acquire smaller providers.”
This push by Figment to acquire smaller players is indicative of a larger trend unfolding in the cryptocurrency landscape. Since the recent elections, M&A activities have surged, and recent data from Architect Partners shows that the total value of crypto-related mergers and acquisitions surged past the $2 billion mark in the first quarter of 2025, marking the highest levels in years.
Recent deals highlight this movement; Ripple (XRP) acquired crypto broker Hidden Road for a staggering $1.25 billion, while Kraken followed suit with its $1.5 billion buyout of futures trading platform NinjaTrader. Phantom also made headlines, acquiring NFT data platform Simple Hash in late February.
On the flip side, exchange giant Coinbase is currently negotiating a deal to acquire leading crypto derivatives platform Deribit. Kraken has previously shown interest in Deribit as well, leading to speculation on whether Coinbase will proceed with its acquisition plans in light of these industry dynamics.
In short, Figment is strategically positioning itself in a rapidly changing marketplace, with a significant focus on integrating smaller crypto companies to enhance its service offerings. While the company’s future seems bright, the outcome of ongoing negotiations surrounding acquisitions such as Coinbase’s potential purchase of Deribit promises to further shape the industry’s direction.
