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Crypto and blockchain deals soared 131% in 2021 in a 'defining' year for the sector, according to a report
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markets.businessinsider.comCourtesy of Galaxy Digital
The number of mergers and acquisitions in the crypto and blockchain sectors more than doubled in 2021, and transaction volume boomed to more than $6 billion, according to a report from The Block Research.
Crypto asset manager Galaxy Digital, led by bitcoin bull Mike Novogratz, made the first billion-dollar deal in the sector with its May announcement that it would buy BitGo, a digital asset infrastructure provider start-up, for $1.2 billion.
The deal contributed to an overall 131% spike up in M&A deals in the sector this year to a record 197 from the prior high-water mark of 85 set a year ago, according to The Block Research's 2022 Digital Asset Outlook. The value of the transactions saw an even more dramatic
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