Crypto Acquisitions and IPOs Surged in 2025, Driven by Trump Administration Policies

The number and value of acquisitions and initial public offerings (IPOs) in the cryptocurrency sector surged in 2025, driven by the Trump administration’s favorable stance toward the industry.

The number of acquisitions saw a year-over-year increase of 18%, reaching 267, the Financial Times reported Tuesday (Dec. 23), citing data from PitchBook.

Notable deals included Coinbase’s $2.9 billion acquisition of Deribit, Kraken’s $1.5 billion purchase of NinjaTrader, and Ripple’s $1.25 billion acquisition of Hidden Road, according to the report.

The value of the deals struck in 2025 was nearly four times that of 2024, reaching $8.6 billion, the report said.

This year also saw 11 crypto IPOs worldwide, up from four in 2024, per the report.

These IPOs raised $14.6 billion, up from last year’s $310 million, according to the report.

Crypto company IPOs in 2025 included Gemini, Circle and Bullish, per the report.

The report attributed this year’s growth in the sector to Trump administration policies that include appointing crypto-friendly regulators, dropping lawsuits and launching a national crypto reserve.

The industry’s momentum is expected to continue in 2026 as new rules are implemented in the U.S. and more traditional financial institutions get involved in the sector, the report said.

PYMNTS reported Wednesday (Dec. 24) that while crypto markets continued their cyclical booms and busts this year, the industry’s main story in 2025 was one of structural adoption, regulatory articulation and financial integration.

These trends signal crypto’s steady movement toward the core of financial architecture, with a principal role in this evolution being played by softening policy in the United States.

President Donald Trump announced the creation of a U.S. strategic cryptocurrency reserve in March, saying the reserve could include bitcoin and ether as well as XRP, Solana’s SOL coin and Cardano’s ADA.

“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL and ADA,” Trump said at the time. “I will make sure the U.S. is the Crypto Capital of the World.”