Figment, a Toronto-based blockchain staking services provider, is embarking on an acquisition spree, seeking to purchase companies worth between $100 million and $200 million. This move comes amid renewed optimism spurred by increased regulatory clarity in the United States, following the SEC's recent retreat from several cases against crypto firms and appointment of pro-crypto leadership.
Figment, which currently manages approximately $15 billion in staked assets and 150 employees, is focusing its acquisition targets on companies with strong regional influence or within blockchain ecosystems such as Cosmos and Solana. CEO Lorien Gabel stated that term sheets for some deals are already in place. The aggressive M&A push aligns with a wider industry trend, exemplified by recent large-scale acquisitions by Kraken and Ripple.
Despite the acquisition activity, Figment has ruled out additional fundraising or a company sale, emphasizing long-term development. With $165 million raised to date and notable backers including Morgan Stanley and Thoma Bravo, Figment positions itself as a consolidator in the evolving staking and blockchain infrastructure market.