Figment Plans Aggressive Crypto M&A Expansion
Deal News | May 06, 2025 | EIN
Figment, a crypto staking firm, is targeting acquisitions valued between $100 million to $200 million, signaling a strong push in the digital asset M&A market. CEO Lorien Gabel mentioned that the firm is particularly interested in acquiring companies with strong regional footholds in Asia and South America or those dominating blockchain ecosystems like Cosmos and Solana. The surge in M&A activity within the crypto sector aligns with increasing regulatory clarity in the U.S. Other notable acquisitions include Ripple's purchase of Hidden Road and Kraken's acquisition of NinjaTrader. Figment, which manages approximately $15 billion in staked assets and recently raised $110 million in funding led by Thoma Bravo, is embarking on this strategic expansion without plans to raise additional capital. The company's approach is bolstered by growing demand and regulatory advancements, including potential approval for Ether ETFs with staking possibilities.
Sectors
- Cryptocurrency and Blockchain
- Financial Services
- Mergers and Acquisitions
Geography
- United States – Significant due to the regulatory clarity influencing M&A activities in the crypto sector.
- Canada – Home base of Figment, which drives the company's operations and strategic decisions.
- Asia – Target region for acquisition due to strong market opportunities.
- South America – Another region of interest for Figment's acquisition strategy, highlighting market penetration goals.
Industry
- Cryptocurrency and Blockchain – This industry focuses on digital assets, blockchain technology, and related services, central to Figment's operations and acquisition targets.
- Financial Services – Involves services like staking and asset management which Figment provides, as well as regulatory changes influencing M&A activities.
- Mergers and Acquisitions – The article centers on Figment's acquisition plans amidst broader M&A activities in the crypto space.
Financials
- $100M to $200M – The range of acquisition deals Figment is targeting.
- $15 billion – The amount of staked assets managed by Figment, indicating its substantial presence in the market.
- $110 million – Funds raised by Figment in its last funding round led by Thoma Bravo.
- $4.9 billion – Total venture capital investment in the crypto industry for Q1 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Figment | Target Company | Company | A crypto staking firm targeting significant acquisitions to expand its market presence. |
| Lorien Gabel | CEO and Co-founder | People | CEO of Figment, actively leading the company's strategic M&A initiatives. |
| Thoma Bravo | PE Investor | Company | Private equity firm that led Figment's last funding round and holds a board seat. |
| Ripple | Acquiring Company | Company | Recently acquired Hidden Road, indicating increased M&A activity in crypto. |
| Kraken | Acquiring Company | Company | Purchased NinjaTrader, reflecting the current M&A trend in digital assets. |
| Coinbase | Potential Acquirer | Company | Reportedly in talks to acquire crypto derivatives exchange Deribit. |