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Crypto payments firm is acquiring brokerage house for $1.25 billion in one of the biggest M&A deals ever in crypto.

The deal is the second billion-dollar-plus deal in about a month, as the re-election of President has re-energized the crypto market, with many expecting regulations to ease.

Just last month, the dropped a Ripple that accused it of conducting an illegal securities offering.

鈥淲e are at an inflection point for the next phase of digital asset adoption 鈥� the U.S. market is effectively open for the first time due to the regulatory overhang of the former SEC coming to an end, and the market is maturing to address the needs of traditional finance,鈥� said Ripple CEO in a .

Hidden Road clears $3 trillion annually across markets with more than 300 top institutional customers, including hedge funds.

Crypto鈥檚 upswing

The deal continues a surge of momentum in the crypto industry 鈥� although even that has been somewhat dampened by the current tariff issues dogging the economy.

Just last month, cryptocurrency exchange said it would buy retail futures trading platform for $1.5 billion.

In addition, stablecoin issuer and 鈥� which operates a trading platform for stocks, cryptocurrencies and other assets 鈥� both recently filed for an IPO 鈥� however, the current market instability will likely alter those plans.

Overall, venture funding to startups in the crypto and blockchain space rocketed to $3.8 billion in 220 deals in Q1, per 禁漫天堂 . The dollar figure represents a 138% jump from the previous quarter, which saw only $1.6 billion go to Web3 startups in 242 deals.

However, those numbers were propped up by cryptocurrency exchange 鈥檚 massive $2 billion investment from Abu Dhabi-based investment firm . The deal is the single largest investment into a crypto company.

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Related reading:

• Crypto And Blockchain Funding Sees Big Boost In Q1 Thanks To Binance
• Will The Ripple Deal Create Waves In Stagnant Web3 M&A?

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