1、2025 Year-End Report Crypto M&A and Financing Architect InsightsThe Content is for informational purposes only,you should not construe any such information or other material as investment,financial,or other advice.Nothing contained on our site constitutes a solicitation,recommendation,endorsement,or

2、 offer by Architect Partners or any third party service provider to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.Securities offered through Weild&

3、Co.,member FINRA|SIPC.2ARCHITECT INSIGHTS:2025 Year-End Report CRYPTO M&A AND FINANCINGS REPORTContents2025 Year-End ReportState of the Crypto Markets3Mergers&Acquisitions 4Private Financings7Public Markets10Subsector Breakdown13Architect PartnersArchitect Team and Contact Info25Deal Highlight Page2

4、8Architect Partners Research29State of the Crypto Markets:Enduring Businesses are Being Built 2025 CRYPT HIGHLIGHTSA Resounding Year!Crypto mergers&acquisitions reached record levels of activity in 2025,and consideration paid grew by over seven times from last year.Crypto private financings demonstr

5、ated the return of late stage equity investors after a very long 36-month hiatus,in spite of artificial intelligence businesses stealing the spotlight.The Rise and Fall of Digital Asset Treasury companies DATsAmazingly 221 DATs were formed and announced the intention to raise$145B in capital in the

6、six months between March and September 2025.This activity trailed off quickly as the so-called multiple of net asset value(mNAV)premium evaporated for most.Crypto IPOs ReemergeDebuts by eToro,Circle,Bullish,Figure and Gemini were generally very well received but are now trading below their highs.Thi