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: 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…

State of Crypto M&A: Update & Survey

Wednesday, March 4, 2020

Following up on our landmark M&A research piece for 2019 we provide a few insights on what’s been happening so far this year. M&A slowdown There has been a slowdown in Crypto M&A activity, contrasting our initial expectations and those of industry executives and investors. Nonetheless there have been a few…

Crypto ≠ risk pandemic vaccine

Wednesday, March 4, 2020

Choosing between selling n95 face masks in exchange for stablecoin and publishing data driven insights about crypto, we clearly prefer the latter. In this update we shed light on exchanges (Deribit and FTX) looking to set the benchmark for crypto vol trading and carve a niche ahead of the incumbents….

Crypto M&A: Barbarians on the Blockchain

Sunday, November 24, 2019

Crypto M&A – A comprehensive review Crypto M&A is alive and kicking. 350 acquisitions involving cryptocurrency and blockchain companies have taken place since 2013. However, beyond anecdotes, press releases and high level summaries, there haven’t been any thorough or forward-looking analyses, until now.  What follows is a condensed version of…

Token Buybacks: Design or Despair?

Friday, November 9, 2018

Similar to stock buybacks, token buybacks involve a cryptocurrency project buying back its tokens from existing holders. We’ve come across a number of examples and have divided the token buybacks into three categories: Buybacks Instead of Dividends Some projects have explicitly mentioned buybacks as a core feature of their business…

ICOs are dead – long live the ICO

Wednesday, November 7, 2018

Token and ICO fundraising continued a steep decline in July 2018. 40 ICOs and (private) token sales raised a total of $417M – down from $585 Million in June and $2 Billion in May. This is the lowest monthly amount we’ve measured since May 2017. A closer look at the…

Mega-ICO-saur sale extinction?

Wednesday, August 1, 2018

July had the lowest ICO activity in more than a year Token and ICO fundraising continued a steep decline in July. 40 ICOs and (private) token sales raised a total of $417M – down from $585 Million in June and $2 Billion in May. This is the lowest monthly amount we’ve measured since May 2017….

ICOs raised $2B in May 2018 and $10B in 2018 ytd

Wednesday, June 6, 2018

ICOs raised $2 billion in May and $10 billion in 2018 ICOs raised a total of $2 billion in May 2018 with the following breakdown: 53 completed ICOs raised a total of $1.1B in May 2018 – versus $548M in April.  The EOS sale raised a total of $913M in May 2017 – versus…

Q&A with Set Protocol – Decentralized Crypto Baskets

Monday, June 4, 2018

The explosion of ICOs has led to an exponential increase in the number of ERC-20 tokens that are actively traded. There have been dozens of ICOs and matching numbers of tokens for each new blockchain use-case. As a result, many users and investors in the crypto space frequently ask the…

Weighing in the heavyweight contenders

Thursday, May 3, 2018

ICOs raised $550M in April  48 completed ICOs raised a total of $548M in April 2018. This is a significant (25%) decline since March and close to a 70% decline from the “ICO fundraising peak” in January. Total capital raised by completed ICOs stands at $4.1B in 2018 versus $5.6B…