#加密货币监管框架 The M&A data for the crypto industry in 2025 has just been released, and I see an exciting signal: a record high of $8.6 billion! This is not just a numerical jump; it reflects the maturity and recognition of the entire ecosystem.

Think about it, from $2.17 billion to $8.6 billion, the transaction volume has quadrupled, and the number of deals has increased by 18%. What does this mean? It means traditional capital is voting with real money, traditional financial institutions are starting to enter on a large scale, and the industry’s consolidation and upgrading are accelerating.

What’s particularly noteworthy is the logic behind these big moves. Coinbase’s $2.9 billion acquisition of Deribit, Ripple’s $1.25 billion purchase of Hidden Road—what are these leading players doing? They are laying out infrastructure for derivatives and prime brokerage services. This is a clear sign of Web3 moving towards maturity and institutionalization. The gradual clarification of regulatory frameworks is alleviating capital concerns, and the risk premiums that once existed are diminishing.

The core insight from this wave is: decentralized infrastructure is being reconstructed. When traditional capital is willing to invest heavily, it indicates that Web3 is no longer a niche narrative but is truly beginning to change the underlying financial architecture. We are at a critical moment—old financial orders are being reorganized, and new possibilities are emerging. In this process, every transaction is paving the way for a decentralized future.