According to a study by The Block, since 2013, 129 mergers and acquisitions (M&A) have been completed in the blockchain industry for a total of about $ 2.9 billion.
Cryptocurrency exchanges lead to M&A. Coinbase conducted 16, and Binance and Kraken - 10 such transactions.
Except for the three exchanges listed above, nine of the 12 remaining companies conducted only two transactions as of June 2020.
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The largest transaction categories are Trading and Exchanges, Banking and Payments, Data, and Analytics.
Last month, Coinbase acquired the Tagomi cryptocurrency broker to develop its institutional platform, and in April, Binance officially confirmed the purchase of CoinMarketCap. Late last year, Kraken announced the acquisition of Circle Trade, Circle’s OTC trading platform.