Crypto’s $50 billion lie masks a brutal reality where massive mergers are quietly killing off every new experiment
The crypto business’s capital headline for 2025 seems to be like a comeback story: $50.6 billion throughout 1,409 transactions, up sharply from 2024’s totals. However, the composition tells a completely different story. According to the annual Crypto Fundraising Report, 43.7% of that capital got here from simply 21 mergers and acquisitions (M&A). Traditional enterprise capital…
