Figment, a prominent provider of blockchain staking services, is ramping up its acquisition efforts amid a wave of consolidation in the crypto sector, fueled by growing optimism surrounding regulatory clarity in the U.S.
The Toronto-based company is focusing on regional players within the Cosmos and Solana ecosystems, with acquisition targets ranging from $100 million to $200 million, according to CEO Lorien Gabel, who spoke with Bloomberg. The firm has already issued term sheets for several potential deals, the report noted.
Figment’s core business revolves around helping institutions earn rewards through staking—where tokens are locked to secure blockchain networks and validate transactions. The company currently oversees around $15 billion in staked assets and employs a team of 150 people, Gabel shared.
This surge in crypto M&A activity, including notable deals like Kraken’s $1.5 billion acquisition of NinjaTrader and Ripple’s $1.25 billion purchase of Hidden Road, comes in the wake of a more crypto-friendly regulatory stance under the Trump administration. The new policy environment has seen the U.S. Securities and Exchange Commission (SEC) drop legal cases against various crypto firms, following the appointment of crypto ally Paul Atkins to lead the commission.
Despite its aggressive acquisition strategy, Figment is not seeking additional funding and has no plans to sell, with Gabel emphasizing his commitment to the company’s long-term vision. “I’d rather go to zero,” he stated, stressing his determination to build Figment for the future.
To date, Figment has raised $165 million, according to data from TheTie. The company’s latest Series C round was led by Thoma Bravo, with participation from major investors such as Morgan Stanley and Franklin Templeton.
