A wave of layoffs sweeps the crypto industry as Bitcoin's decline continues, but merger and acquisition activity surges to $9.37 billion in the first half of 2026. Traditional financial giants like Mastercard and Franklin Templeton accelerate acquisitions of payment, custody, and compliance infrastructure, focusing on stablecoin use cases and institutional-grade applications. In contrast, pure decentralized projects and public chains without real-world utility are being snubbed by capital.
The ongoing decline in Bitcoin's price has triggered large-scale layoffs across the crypto industry. However, merger and acquisition activity has surged, with total M&A volume reaching $9.37 billion in the first half of 2026, signaling a wave of capital consolidation.
Traditional financial institutions such as Mastercard and Franklin Templeton are actively acquiring infrastructure assets in payments, custody, and compliance licensing. Their focus is on stablecoin applications and institutional-grade on-chain use cases. Meanwhile, pure decentralized projects and public chains lacking real-world utility are being left out of capital flows.
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