Figment Plans Acquisitions Between $100 Million and $200 Million in Crypto Sector
Figment, a blockchain staking services provider, is pursuing acquisitions in the crypto sector as optimism grows over U.S. regulatory clarity.
- The firm targets deals between $100 million and $200 million, focusing on companies with regional influence or within blockchain ecosystems like Cosmos and Solana.
- CEO Lorien Gabel indicated that term sheets for some acquisitions are already in place.
- Figment manages approximately $15 billion in staked assets and employs around 150 people.
- This wave of consolidation follows major transactions, including Kraken’s $1.5 billion purchase of NinjaTrader and Ripple’s $1.25 billion acquisition of Hidden Road.
- Regulatory changes under the Trump administration have contributed to this environment, with the SEC dropping cases against several crypto firms.
- Despite its acquisition strategy, Figment is not seeking additional funding and has no plans for a sale.
- To date, the company has raised $165 million, with its last Series C round led by Thoma Bravo and supported by firms like Morgan Stanley and Franklin Templeton India.