Figment, a leading staking infrastructure provider, has acquired Rated Labs, a data analytics firm specializing in validator performance and on-chain reliability. The acquisition, announced in October 2025, aims to enhance transparency and risk management for institutional investors in the staking ecosystem. Rated Labs will continue to operate as an independent entity to maintain data neutrality, ensuring unbiased analytics for networks like Ethereum, Solana, and Cosmos.
Figment, which oversees over $18 billion in staked assets, plans to integrate Rated's APIs and Explorer tools without rebranding, providing clients with granular data for informed delegation decisions. The financial terms were not disclosed, but the move aligns with Figment's strategy to allocate up to $200 million for acquisitions as consolidation accelerates in institutional crypto infrastructure. Andrew Cronk, Figment's chief product officer, emphasized that transparent data is essential for institutional adoption of staking, and enterprise API offerings will be reviewed with clients in the coming weeks without disrupting existing services.
Rated Labs, founded in the UK in 2022, gained recognition for its validator explorers and performance ratings. The integration is expected to strengthen Figment's standing among exchanges, custodians, hedge funds, and asset managers. This acquisition reflects a broader trend of consolidation in the sector, driven by regulatory clarity and the demand for integrated technology stacks, with Figment committing to independent growth backed by $165 million in funding from firms like Thoma Bravo and Franklin Templeton.
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