Mergers AND Acquisitions

Gemini’s market value has fallen sharply since its public debut, renewing attention on whether its regulatory footprint could become more valuable than its shrinking exchange business. While no active bid has been indicated, market participants are watching the platform’s licenses, custody infrastructure and concentrated voting control closely.

Ondo Finance is weighing a potential acquisition valued between $250 million and $500 million as tokenization firms look for scale. The move comes amid strong crypto dealmaking in 2026, with infrastructure, payments, custody and institutional trading among the most active targets.