Crypto M&A: 1H20 Update

Wednesday, August 19, 2020

What follows is a short summary of our research report about M&A activity in the cryptocurrency space. The full version can be downloaded for free:

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1H20 Deal Flow

42 acquisitions involving cryptocurrency and blockchain companies have taken place in the first half of 2020. At the start of the year, our industry survey had a majority of participants forecast a significant pick-up during 2020. While deal activity in Q1 was promising, we’ve seen a pull-back in Q2. Nonetheless, activity is on track to match 2019 despite the Covid-19 crisis. 

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We estimate that deal value in the first half of 2020 has already matched 2019. The main reason for this increase is the re-emergence of large nine-figure transactions, mostly absent in 2019. The best example is the $300-400M acquisition of CoinMarketCap by Binance

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Crypto Exchanges & Decentralized M&A

Exchanges and other trading-related companies were the most active strategic buyers in the first half of 2020.

Moreover, while we have not seen an actual case of “Decentralized M&A” yet, there have been deals involving protocols and ICO-funded teams.

Download the full report for an in-depth analysis on these topics.

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