Architect Partners: Q1 2025 was a record quarter for crypto M&A with 61 deals and $2.2B in total deal value, including Kraken's $1.5B acquisition of NinjaTrader (Ryan Weeks/Bloomberg)

Ryan Weeks / Bloomberg:
Architect Partners: Q1 2025 was a record quarter for crypto M&A with 61 deals and $2.2B in total deal value, including Kraken's $1.5B acquisition of NinjaTrader  —  A false dawn for M&A?  —  Is the crypto M&A boom for real?  We asked Casper Johansen, partner at The Spartan Group, a digital assets advisory firm.

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