Crypto Firm Figment Looks to Secure $200M in Acquisitions as Part of M&A Expansion

Figment, a prominent blockchain staking service provider, is aggressively pursuing acquisitions to expand its presence in the rapidly consolidating cryptocurrency industry, fueled by recent shifts in U.S. regulatory policy.

The Toronto-based firm is eyeing acquisitions in the $100 million to $200 million range, focusing on companies with strong regional influence or those operating within the Cosmos and Solana ecosystems. CEO Lorien Gabel shared with Bloomberg that Figment has already made offers and has term sheets out for several potential acquisitions.

Figment’s core business revolves around helping institutional clients earn rewards through staking, where tokens are locked in order to help secure blockchain networks and validate transactions. The company currently manages roughly $15 billion in staked assets and employs a team of around 150 people, according to Gabel.

This flurry of activity in the crypto space comes as the Trump administration’s pro-crypto stance has created a more favorable regulatory environment, leading to increased confidence in the sector. The U.S. Securities and Exchange Commission (SEC) has dropped ongoing cases against various crypto firms, following the appointment of Paul Atkins, a crypto advocate, as the SEC chair.

Despite its aggressive acquisition strategy, Figment has no intention of raising additional capital and has ruled out any potential sale. Gabel, who co-founded the company and has built multiple startups, emphasized his commitment to Figment’s long-term goals. “I’d rather go to zero,” he said, reinforcing his dedication to the firm’s vision for growth.

Figment has raised $165 million in total, according to data from TheTie. Its latest Series C funding round was led by Thoma Bravo, with participation from major investors such as Morgan Stanley and Franklin Templeton.