Figment, a leading provider of blockchain staking services, is ramping up its acquisition efforts, tapping into the growing wave of consolidation within the cryptocurrency sector, driven by a more favorable regulatory climate in the United States.
The Toronto-based company is targeting acquisitions between $100 million and $200 million, focusing on firms with a strong regional presence or those embedded within blockchain ecosystems such as Cosmos and Solana. CEO Lorien Gabel revealed in an interview with Bloomberg that Figment has already extended term sheets to several targets.
The company specializes in helping institutions earn rewards through staking, a process in which tokens are locked to secure blockchain networks and validate transactions. Figment currently manages around $15 billion in staked assets and employs approximately 150 people, according to Gabel.
This surge in crypto mergers and acquisitions comes as the Trump administration’s pro-crypto stance has shifted the regulatory landscape, bringing increased optimism to the sector. Under these new conditions, the U.S. Securities and Exchange Commission (SEC) has dismissed cases against several crypto firms, with crypto ally Paul Atkins now heading the commission.
Despite its ambitious acquisition plans, Figment has no intentions of raising more capital and has firmly ruled out the possibility of a sale. Gabel, a serial entrepreneur who co-founded the company, is committed to Figment’s long-term vision. “I’d rather go to zero,” he said, emphasizing his determination to build the company for the future.
To date, Figment has raised $165 million, as reported by TheTie. Its latest Series C funding round was led by Thoma Bravo, with backing from heavyweights like Morgan Stanley and Franklin Templeton.
