Figment Eyes Up to $200M Worth of Acquisitions in Crypto M&A Push

Staking infrastructure giant Figment is planning an ambitious acquisition strategy worth up to $200 million, positioning itself to capitalize on the current wave of consolidation sweeping through the cryptocurrency industry.

The Toronto-based blockchain infrastructure provider is actively pursuing multiple acquisition targets with valuations between $100 million and $200 million, according to CEO Lorien Gabel. The company is specifically targeting firms with strong regional presence or those deeply integrated within specific blockchain ecosystems such as Cosmos and Solana.

“We already have term sheets out for some deals,” Gabel revealed in an interview with Bloomberg, signaling that negotiations are well underway in what appears to be a calculated expansion strategy.

Staking Services Powerhouse

Figment has established itself as a major player in the institutional staking services sector, helping organizations earn rewards by locking their cryptocurrency tokens to secure blockchain networks and validate transactions. The company currently manages approximately $15 billion in staked assets and employs a workforce of around 150 professionals.

The firm’s aggressive acquisition strategy comes amid a broader merger and acquisition trend in the cryptocurrency space, fueled largely by improved regulatory clarity in the United States under the current administration.

Market Consolidation Accelerates

Figment’s move follows other significant deals in the sector, including Kraken’s $1.5 billion acquisition of NinjaTrader and Ripple’s $1.25 billion purchase of Hidden Road. Industry analysts attribute this flurry of activity to the more crypto-friendly regulatory environment established by the Trump administration, which has seen the Securities and Exchange Commission (SEC) drop several cases against cryptocurrency firms.

The appointment of crypto ally Paul Atkins to lead the SEC has further bolstered confidence in the sector, encouraging companies like Figment to pursue aggressive growth strategies.

Long-Term Vision

Despite the extensive acquisition plans, Figment is not currently seeking additional funding and has ruled out selling the company. Gabel, who co-founded Figment and has launched three previous startups, emphasized his commitment to building the company for the long term, stating emphatically, “I’d rather go to zero.“

To date, Figment has raised $165 million in funding, according to data from TheTie. The company’s most recent Series C funding round was led by private equity firm Thoma Bravo and included participation from major financial institutions such as Morgan Stanley and Franklin Templeton.

As the cryptocurrency infrastructure space continues to mature, Figment’s ambitious acquisition strategy signals both confidence in the sector’s future and the company’s determination to secure a dominant position in the evolving digital asset landscape.

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