According to a CryptoSlate report, the crypto industry saw $50.6 billion in capital across 1,409 transactions in 2025. However, mergers and acquisitions (M&A) accounted for 43.7% of this capital, totaling 21 deals. Traditional venture capital and private investment contributed $23.3 billion across 829 deals, while public sales and IPOs accounted for $5.2 billion across 155 transactions. The report highlights that M&A drove 83% of the year-over-year increase in capital, even as funding rounds declined. Different trackers reported varying totals for 2025 due to differing methodologies, with some focusing on fundraising through equity and token rounds, while others include acquisition consideration and public-market events.

According to a CryptoSlate report, the crypto industry saw $50.6 billion in capital across 1,409 transactions in 2025. However, mergers and acquisitions (M&A) accounted for 43.7% of this capital, totaling 21 deals. Traditional venture capital and private investment contributed $23.3 billion across 829 deals, while public sales and IPOs accounted for $5.2 billion across 155 transactions. The report highlights that M&A drove 83% of the year-over-year increase in capital, even as funding rounds declined. Different trackers reported varying totals for 2025 due to differing methodologies, with some focusing on fundraising through equity and token rounds, while others include acquisition consideration and public-market events.