An absolutely insane blow off top happening in M&A funding in digtal assets at the end of last year.

This is usually a tell-tale sign of a bull market reaching the euphoria state. Max FOMO comes in from outside investors and institutional allocators looking to ride the wave by purchasing a company from within the space.
Since Novemeber 2025, digital assets M&A is down -90% from $15B to under $2B.

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