Fireblocks acquires Dynamic for approximately $90M; Dynamic streamlines crypto wallet setup, authentication, and onboarding for over 50 million accounts.
The 2025 M&A landscape split into two tracks: mega-deals driven by AI infrastructure demand and defensive acquisitions by companies racing to integrate AI before competitors. Regulatory scrutiny intensified — the FTC and EU blocked or delayed several major transactions, creating a new category of 'announced but stalled' deals that dominated coverage for months.