Crypto Acquisitions in Overdrive: The third quarter of 2025 is off to a busy start with significant acquisition activity in the crypto sector, highlighted by Coinbase’s purchase of Liquify on July 2nd.
The week spanning July 7th to 12th alone saw several prominent crypto firms finalizing major acquisition agreements, further fueling merger and acquisition momentum. Notable players such as OpenSea, Coinbase, Monad, and Pump.Fun were involved in approximately four acquisitions during this period.
Below is a breakdown and detailed analysis of these key deals:
OpenSea Snaps Up Rally to Prioritize Mobile NFT Trading
On July 8th, OpenSea, a leading NFT marketplace, acquired Rally, a Web3 wallet designed with a “mobile-first” approach, aiming to deliver NFT and token trading directly to users’ mobile devices.
Established in 2021, Rally was specifically built as a mobile-centric application that includes social features. Its core strengths lie in streamlined mobile wallet management, instant token trading capabilities, and comprehensive portfolio tracking.
This acquisition is expected to lead to the launch of a brand new OpenSea mobile application later in 2025. The goal is for the app to be a comprehensive platform for all on-chain activities. OpenSea is shifting from being solely an NFT marketplace to a “one-stop shop” that includes token trading, DeFi features, perpetual futures, and other blockchain-based activities.
As part of the agreement, Rally’s co-founders, Chris Maddern (now CTO) and Christine Hall (Chief of Staff), both former Robinhood employees, have joined the OpenSea team. They bring significant experience in mobile app development, user experience design, and on-chain trading.
Steve, a prominent voice in the NFT community, described the acquisition as a “smart move by OpenSea,” stating that the platform is acknowledging that the future wave of on-chain users will be accessing the blockchain from their mobile devices. He emphasized the importance of catering to users familiar with the mobile experience, calling it “a blueprint” for the future.
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PumpFun Adds Wallet Tracking with Kolscan Acquisition
Another key acquisition during the week occurred on July 11th, as leading token launchpad Pump.Fun acquired Kolscan.
Similar to OpenSea’s strategy, this acquisition seeks to enhance the social aspects and transparency of crypto token trading. Kolscan’s wallet tracking technology will be integrated into Pump.Fun to improve the accuracy and speed of profit/loss calculations, trade data, and token information. Furthermore, a leaderboard that includes both Key Opinion Leaders (KOLs) and other users will be incorporated as part of the acquisition.
Alon, co-founder of Pump.Fun, commented on the acquisition, stating that providing social insights, helpful tools, and gamifying the trading experience is crucial for expanding their ecosystem.
This acquisition follows Pump.Fun’s successful $500 million token sale for its $PUMP token on Sunday, which was completed in just 12 minutes. During the past week, however, the platform experienced increased competition from a new memecoin launchpad, LetsBonk.Fun, in terms of 24-hour revenue and the number of tokens created.
Monad and Coinbase Focus on Expansion Through Acquisitions
Two other significant acquisitions were also finalized this week: The Monad Foundation acquired Portal Labs, and Coinbase completed an acqui-hire of Opyn’s leadership team.
On July 9th, the Monad Foundation, developer of a high-performance, EVM-compatible Layer-1 blockchain, acquired Portal Labs, the team behind Portal. Portal offers a standalone, embeddable stablecoin payment infrastructure platform. As Monad prepares for its upcoming mainnet launch, the Portal team will build a complete stablecoin payment ecosystem aimed at enterprises, fintech companies, and Web3 developers.
Monad Foundation has acquired @portal_hq
Portal’s stablecoin infrastructure platform allows any business, bank, or financial institution to accept stablecoin payments – currently powering millions of dollars in daily settlements.
Read more on the acquisition below ⤵️ pic.twitter.com/9GSK6YsfqK
— Monad ⨀ (@monad_xyz) July 9, 2025
Coinbase strengthened its Onchain Markets team by welcoming the leadership team from Opyn on July 11th. This team includes Opyn’s CEO Andrew Leone, Head of Research Joe Clark, and co-founders Alexis Gauba, Aparna Krishnan, and Calvin Liu. This acquisition aims to improve Coinbase’s on-chain derivatives and institutional offerings, as the Opyn team possesses significant expertise in DeFi options.
Opyn pioneered the first decentralized options protocol, Power Perpetuals, and Squeeth. The Opyn team’s knowledge should bolster Coinbase’s push to expand in the derivatives space.
M&A Activity in Q3 Poised to Surpass Previous Records
The M&A momentum witnessed during the past week indicates that Q3 2025 is potentially headed for a record-breaking performance in the crypto sector.
Q1 had a strong start with 62 crypto M&A deals. A highlight was Kraken’s $1.5 billion acquisition of NinjaTrader.
According to the Coingape Q2 2025 report, M&A activity continued to increase in Q2 2025, with Coinbase’s $2.9 billion Deribit acquisition as a notable event.
Therefore, the overall volume and transactional value of crypto M&A in Q3 could establish new benchmarks due to the sustained momentum and favorable conditions in the market.
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Disclaimer: This content reflects the author’s personal opinion and relies on prevailing market conditions. Conduct thorough market research before making any cryptocurrency investments. Neither the author nor the publisher assumes liability for any personal financial losses incurred.