<p>Cryptocurrency deal-making clocked in record volumes after a frenzied year for merger and acquisitions, with approximately $6.1 billion in M&amp;A volume driven by crypto-native, finance, and technology companies. </p> <p>As noted by The Block Research's 2022 Digital Asset Outlook report, M&amp;A transactions hit a record high for the sector with more than 197 acquisitions so far this year. That growth represents a nearly 130% increase compared to last year, which clocked in 85 transactions.</p> <p><img class="alignnone wp-image-128070 size-full" src="https://www.tbstat.com/wp/uploads/2021/12/Screen-Shot-2021-12-20-at-9.12.53-PM.png" alt="" width="1064" height="530" /></p> <p>The surge in dealmaking has been fueled by both crypto companies acquiring rivals that offer services that expand their bread and butter offerings. For instance, Coinbase — which is best known for its brokerage and exchange businesses — <a href="https://podcasts.apple.com/us/podcast/a-deep-dive-into-coinbases-acquisition-of-bison-trails/id1460134454?i=1000505823337">snapped up</a> Bison Trails for an undisclosed amount at the beginning of the year to expand into blockchain infrastructure services. Plus, Galaxy announced it would acquire financial services provider BitGo in a $1 billion-plus transaction. That deal is expected to close next quarter. </p> <p>It's not just crypto companies either. </p> <p>Credit card company Mastercard announced its acquisition of crypto sleuthing company CipherTrace, while popular equities broker Robinhood <a href="https://www.theblockcrypto.com/post/127475/robinhood-buys-cross-exchange-trading-platform-cove-markets">announced</a> its first crypto acquisition in December. </p> <p>"Non-crypto businesses are beginning to make strategic moves to position themselves, both offensively and defensively, as crypto and blockchain-based applications, commonly referred to as dApps, emerge," an email sent to clients by boutique M&amp;A consultancy firm Architect Partners noted. </p> <div> <p><em><strong>Read the full report <a href="https://www.tbstat.com/wp/uploads/2021/12/The-Block-Research-2022-Digital-Asset-Outlook.v2.pdf">here</a>. </strong></em></p> </div>