Cryptocurrencies
Crypto Deals Balloon as Distressed-Financing Sharks Circle
- There were 92 crypto deals totaling $5.5b in first half 2022
- Crypto miners and exchanges could be among biggest targets
Photographer: Gabby Jones/Bloomberg
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Crypto deals and financings rose to an all-time high in the first six months of this year, but the activity is expected to slow down even as beleaguered companies seek a lifeline during the current crypto winter.
In the first half of the year, the industry had seen 92 mergers and acquisitions totaling $5.5 billion -- handily surpassing the record 74 deals worth $3.5 billion for the same period of 2021, according to a new report from Architect Partners. Private financings were at $20.5 billion in the first half, very close to the $26.5 billion in financings during all of 2021, Architect, which advises crypto companies on M&A and strategic financing, said.