Figment, a company specializing in crypto staking, has announced its intentions to seek potential acquisition targets within the blockchain and cryptocurrency industry. As the frequency of crypto mergers increases, the company is actively pursuing deals ranging from $100 million to $200 million.
A recent Bloomberg report reveals that the crypto staking firm is targeting crypto-focused projects with a robust regional presence, particularly in Asia or South America. The company actively seeks projects that have secured a “dominant” position within prominent blockchain networks, including Cosmos Hub and Solana.
The company’s current acquisition budget is between $100 million and $200 million. The company, headquartered in Canada, employs roughly 150 individuals and manages staked cryptocurrency assets estimated at $15 billion. The company aims to broaden its business activities in the United States in the coming months, contingent upon regulatory decisions regarding opening the staking market to Ethereum ETFs.
Lorien Gabel, Co-Founder and Chief Executive Officer of Figment, stated that the company has no immediate intentions to pursue additional funding or entertain acquisition offers from larger firms. Instead, it is now focusing on acquiring smaller competitors within the industry.
In a recent statement, Gabel confirmed, “We have term sheets out, and we’re actively looking to acquire smaller providers.”
Figment’s current acquisition strategy highlights a significant trend within the cryptocurrency sector. Mergers and acquisitions in the industry have seen an uptick following Trump’s presidential victory. Recent data from Architect Partners indicates that the value of mergers and acquisitions in the cryptocurrency sector has surpassed the $2 billion mark, reaching unprecedented heights in the first quarter of 2025.
Recent acquisitions in the cryptocurrency sector have been notable, with Ripple purchasing crypto broker Hidden Road for $1.25 billion. Additionally, Kraken has made headlines with its $1.5 billion acquisition of futures trading platform NinjaTrader. Meanwhile, Phantom completed its acquisition of NFT data platform Simple Hash in late February.
Coinbase is reportedly engaged in discussions to acquire Deribit, a prominent player in the crypto derivatives exchange market, as noted in earlier crypto. News coverage. In previous developments, Kraken has shown interest in making a purchasing bid for Deribit. The future of Coinbase’s potential deal hangs in the balance, leaving observers to speculate on whether the company will ultimately proceed.
