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Coinbase acquired Deribit (CEX/Options) for $2.90B.
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Kraken acquired NinjaTrader (perp trading platform) for $1.50B.
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Ripple acquired Hidden Road (prime brokerage) for $1.25B.
Mid-sized deals
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Coinbase acquired Echo (launchpad) for $375M.
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Solowin acquired AlloyX (payments) for $350M.
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Bridgepoint acquired ht.digital (accounting/infra) for $262M.
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Paribu acquired CoinMENA (CEX) for $240M.
Around 200M deals
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Ripple acquired Rail (payments) for $200M.
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Robinhood acquired Bitstamp (CEX) for $200M.
100–180M deals
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MoonPay acquired Helio (payments) for $175M.
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Chainalysis acquired Altreya (service) for $150M.
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IG Group acquired Independent Reserve (CEX) for $117M.
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Polymarket acquired QCEX (derivatives venue) for $112M.
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Paxos acquired Fordefi (wallet) for $100M+.
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Kraken acquired Small Exchange (CEX) for $100M.
