Figment Sets Sights on Major Crypto Acquisitions
A Toronto-based blockchain staking services behemoth, Figment is preparing for a major forward leap. The company is looking for acquisitions in the ecosystems around Cosmos and Solana, estimating their value between 100 million and USD 200 million.
Lorien Gabel, Figment’s CEO, disclosed to Bloomberg that some deals are already being circulated to sign. This is part of a larger wave of crypto mergers and acquisitions driven by the U.S. regulatory environment.
Regulatory Shifts Fuel Industry Confidence
Mergers and acquisitions have been surging due to new political activity that shifted the balance towards a more welcoming stance for industry. During Trump’s presidency, the SEC has removed multiple lawsuits against crypto companies, showing a softer touch.
Taking the lead as head of the SEC also bolstered the crypto market on the appointment of Paul Atkins, who is known to endorse crypto. With regulators providing a breather, those in Figment’s position will relentlessly try to vault forward and strengthen their grasp on the fast-moving crypto industry.
Leading the Staking Space with $15 Billion in Assets
Figment has become a cornerstone of the staking industry by helping institutions earn yields through locking their tokens for various blockchain networks. Staked assets, which the company manages, sit around $15 billion, according to Gabel.
The firm employs roughly 150 people and offers support and infrastructure catering to some of the most popular blockchain protocols. With networks’ governance, institutional clients are able to actively partake and also enjoy consistent returns on their digital assets.
No Plans to Sell or Raise More Capital
Figment, like other aggressive growth strategists, doesn’t plan to sell their stakes, and as such, doesn’t seek additional liquidity. Gabel, one of the co-founders who previously founded three other firms, made his long-term commitment clear.
“My focus remains building the company independently and I’d rather go to zero,” said Gabel, referring to the belief that comes with potential growth of the company post-stating blockchain infrastructure services.
Strategic Backing from Financial Giants
As a crypto analytics platform, TheTie highlights that Figment maintained strong investor sentiment, securing $165 million in funding to this date. Only recently, a Series C round was bolstered by Thoma Bravo, Morgan Stanley, StarkWave, and Franklin Templeton India, signaling a shift in investment intensity.
Besides reinforcing revenue streams, these partnerships serve to bolster Figment’s capabilities around expanding its global service offerings. Competing for acquisitions and expanding deeper into blockchain ecosystems is now well within reach financially.
Industry-Wide Consolidation on the Rise
Rather opportunistic for Figment, these staked acquisition plans come against the backdrop of a consolidating crypto market—an industry-wide phenomenon. Fresh marks include Kraken’s purchase of trading platform NinjaTrader for $1.5 billion and Ripple’s $1.25 billion prime brokerage Hidden Road buyout.
There is a momentous industry change underway as larger, well-funded firms are acquiring strategic assets to forward their business ecosystem development. For Figment, niche players with a strong local or technological presence are the key to stoking the fire for this increased demand in staking services.
Building a Future-Proof Crypto Infrastructure
As the adoption of blockchain technology grows, Figment’s emphasis on infrastructure and long-term strategy alongside infrastructure-focused acquisitions makes it one of the most important stakeholders in determining the future of digital finance. Although the regulatory gray area has always been an overhang on the crypto market, maybe the most recent changes are what companies needed to make more confident investments.
In the case of Figment, boldness means precise acquisitions combined with steadfast dedication to the cause, even in a tumultuous marketplace. With a strong vision based on autonomy and creativity, the company is poised to radically change the landscape of large-scale staking operations.
