Figment, a major player in blockchain staking services, is actively looking to buy companies in a spree of integration -with the crypto industry forced by the modified optimization of US regulation clarity.
Toronto-based firm targets taking between $ 100 million and $ 200 million, with a strong regional existence or within blockchain ecosystems, such as Cosmos and Solana, CEO Lorien Gabel Bloomberg said. He said the firm already had a term sheet for some deals, the report was added.
The Figment helps institutions to earn produce through staking, where tokens are locked to help secure blockchain networks and verify transactions supported by networks. The company is currently in charge of around $ 15 billion in staked assets and using nearly 150 people, Gabel said.
The fuzzy of the crypto deals, which includes Kraken’s $ 1.5 billion Ninjatrader purchase And Ripple’s $ 1.25 billion taking hidden roadIt will come as the Trump administration has brought in a more crypto-friendly environmental regulation. That environment saw the US Securities and Exchange Commission drop cases against various crypto companies, with a crypto allies Paul Atkins recently taken The Commission.
Despite the acquisition strategy, the figment is not looking for additional funds and rules a sale. Gabel, who co-established the firm and launched three earlier startups, said he was committed to developing a figment for the long run. “I’d rather go to zero,” he said.
The company has raised $ 165 million to the present, according to data from TheTie. The latest CC funding series was led by Thoma Bravo and saw participation from Giants including Morgan Stanley, Starkwave, and Franklin Templeton India.
Read more: Kraken to buy Ninjatrader for $ 1.5B to get into the US Crypto Futures Market
