Crypto M&A set to notch record, says PwC

NEW YORK: Deal activity in the cryptocurrency sector soared in 2020 and is likely to keep climbing this year, according to a report.

The total value of mergers and acquisitions in crypto more than doubled last year to US$1.1bil (RM4.5bil) from 2019, and average deal size rose to US$52.7mil from US$19.2mil, PwC said in a market overview released yesterday. A greater percentage of activity is taking place in Europe and Asia, and crypto fundraising increased by 33% in overall value from the prior year.