Crypto M&A Surges Past 2019 Total as Rest of World Eclipses U.S.
- Average deal size has risen in the first half of the year: PwC
- Report shows M&A volume spreading into APAC and EMEA regions
Deal value in the cryptocurrency world surpassed the total from 2019 in the first six months of the year as tie-ups became less frequent but bigger, according to PwC.
Global deal value was $597 million in the first half of 2020 compared with $481 million over the whole of last year, PwC said in a report on the crypto merger, acquisition and fund raising landscape. While 2020 includes the purchase of CoinMarketCap.com by Binance Holdings Ltd., even factoring out that deal valued at $400 million in the report, the average size has risen but not the quantity -- there were 125 tie-ups in 2019 versus 60 in the first half of 2020, PwC said. Activity continues to shift away from the Americas, with 57% of volume in Asia-Pacific and Europe, the Middle East and Africa in the first half versus 51% last year.