Figment Eyes $200m Deals in Crypto Sector
Deal News | May 06, 2025 | EIN
The Canada-based crypto staking firm Figment is actively pursuing acquisition opportunities in the blockchain and crypto sector, with potential deals ranging between $100 million and $200 million. The firm targets projects with a robust regional presence, particularly in Asia and South America, as well as those with significant positions in prominent blockchains such as Cosmos and Solana. Figment's CEO, Lorien Gabel, emphasizes the company's strategy to acquire smaller competitors, highlighting the absence of current plans for additional funding or being acquired by larger entities. This initiative is part of a larger trend of increasing M&A activities in the crypto industry, particularly following Trump's presidential victory and the subsequent rise in crypto M&A value surpassing $2 billion in Q1 2025.
Sectors
- Cryptocurrency and Blockchain
- Mergers and Acquisitions
Geography
- Canada – Figment is based in Canada, and its strategic decisions and market operations are connected to this geography.
- Asia – Figment is targeting acquisition prospects in Asia, focusing on firms with strong regional presence in the blockchain sector.
- South America – Similar to Asia, Figment's acquisition targets include firms based in South America, emphasizing regional strength in blockchain.
Industry
- Cryptocurrency and Blockchain – The article discusses Figment, a crypto staking firm, and its plans to acquire other companies in the blockchain and crypto industry. This industry is relevant as it deals with digital finance and crypto technology.
- Mergers and Acquisitions – The focus on Figment's acquisition strategy of smaller crypto projects illustrates its involvement in M&A activity within the crypto and blockchain sectors.
Financials
- $100 million to $200 million – Figment's budget range for acquiring smaller crypto providers.
- $15 billion – Value of crypto assets staked by Figment.
- $2 billion – Value of crypto M&A activity in Q1 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Figment | Target Company | Company | A Canadian crypto staking firm seeking to acquire smaller providers in the blockchain sector. |
| Lorien Gabel | Co-Founder and CEO | Person | Figment's co-founder and CEO guiding the firm's acquisition strategy. |
| Ripple (XRP) | Other Company | Company | Recently acquired crypto broker Hidden Road for $1.25 billion. |
| Kraken | Other Company | Company | Acquired futures trading platform NinjaTrader for $1.5 billion. |
| Phantom | Other Company | Company | Bought out NFT data platform Simple Hash. |
| Coinbase | Other Company | Company | In talks to acquire leading crypto derivatives exchange Deribit. |
| Architect Partners | Other Company | Company | Provided data indicating the rise in crypto M&A activity. |