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Crypto M&A Soared Almost 5,000% in 2021, PwC Report Says

The value of mergers and acquisitions in the cryptocurrency industry jumped 4,846% in 2021, PwC said in a report.

The average deal size reached $179.7 million from $52.7 million, driven partly by special-purpose acquisition company -- or SPAC -- deals. Crypto fundraising deal value rose 645%. The top five investors by deal count were AU21, Genesis Block Ventures, Genblock Capital, Coinbase Ventures and Moonwhale.