Figment is setting its sights on a $200 million acquisition spree in a bold move to capitalize on the shifting tides of the crypto landscape. The Toronto-based blockchain staking service provider is navigating an industry ripe with merger and acquisition opportunities, propelled by newfound optimism in U.S. regulatory clarity. CEO Lorien Gabel, in conversation with Bloomberg, revealed that Figment is actively pursuing companies with a strong foothold in regions or blockchain ecosystems like Cosmos and Solana. Term sheets for several deals are already on the table, signaling Figment’s intent to expand its influence in the blockchain sector.
Riding the Wave of Regulatory Ease
The catalyst for this wave of consolidation? A regulatory environment that has become notably more crypto-friendly under the Trump administration. This change has emboldened companies like Figment to invest heavily in strategic acquisitions, aiming to fortify their positions in an increasingly competitive market. Recent shifts have seen the U.S. Securities and Exchange Commission (SEC) drop cases against various crypto firms, a move that many see as a green light for expansion. Paul Atkins, a known ally of the crypto community, now heads the commission, further boosting industry confidence. For a deeper dive into the regulatory implications, see our coverage of the SEC’s latest guidance.
Figment, which currently manages approximately $15 billion in staked assets, is not alone in its aggressive expansion strategy. Kraken’s recent $1.5 billion acquisition of NinjaTrader and Ripple’s $1.25 billion purchase of Hidden Road highlight a broader trend of consolidation within the crypto industry. These acquisitions underscore a growing appetite for expanding capabilities and market reach among major players.
Strategic Acquisitions and Market Influence
Lorien Gabel is steering Figment’s ship with a clear vision: to leverage these acquisitions to bolster Figment’s staking services and enhance its position as a leading facilitator in blockchain validation. By locking tokens, Figment helps secure blockchain networks and validate transactions, offering institutions a reliable way to earn yield. The firm, which employs around 150 people, is strategically focusing on acquisitions that align with its core strengths in staking and network validation. As explored in our recent coverage of Crypto Coalition’s stance on staking, the importance of staking in the crypto ecosystem cannot be overstated.
Despite its aggressive acquisition strategy, Figment isn’t seeking external funding, nor is it contemplating a sale. Gabel, a seasoned entrepreneur with three startups under his belt, is committed to the long-term growth of Figment. “I’d rather go to zero,” he remarked, underscoring his dedication to building the company into a formidable force in the crypto world.
The company’s financial backing is robust, having raised $165 million to date, with its latest Series C funding round led by Thoma Bravo and participation from significant players like Morgan Stanley, StarkWave, and Franklin Templeton India. This financial foundation provides Figment with the leverage needed to pursue its ambitious acquisition goals without the pressure of raising additional capital.
The Road Ahead: Opportunities and Challenges
As Figment navigates this acquisitive path, the broader crypto industry is watching closely. These moves raise questions about the sustainability of such aggressive expansion in a sector known for its volatility. The crypto market’s inherent unpredictability means that even the most well-laid plans can face unforeseen challenges. However, with regulatory winds seemingly at their back, companies like Figment are poised to seize opportunities that might have seemed out of reach just a few years ago.
Looking forward, the implications of these acquisitions could reshape the competitive landscape of the blockchain industry. With Figment’s focus on ecosystems like Cosmos and Solana, it’s clear that the company is betting on the continued growth and adoption of these networks. Whether this trend of consolidation will continue depends largely on regulatory developments and market dynamics in the coming months.
In a world where blockchain and crypto continue to challenge the status quo, Figment’s bold strategy underscores a willingness to adapt and thrive amidst change. As the industry evolves, Figment’s journey will be one to watch, offering insights into the potential for growth and innovation in a rapidly transforming market.
Source
This article is based on: Figment Eyes Up to $200M Worth of Acquisitions in Crypto M&A Push: Report
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
