PwC, one of the largest auditing firms in the world, yesterday released a report that revealed that most of the mergers and acquisitions in the crypto industry as well as fundraisings are taking place outside the US.
According to the document, fundraisings and mergers in the APAC (Asia-Pacific) and EMEA (Europe, Middle East and Africa) regions accounted for a total of 51% of all fundraisings and mergers last year with 29% and 22%, respectively.
Compared to 2018, there has been an increase of 7%, up from 44% two years ago. Regarding the US, this figure has been reduced from 48% to 55%, which represents a drop of 7%.
According to the report, there was a significant drop in both the number and value of operations last year. Thus, the number of fundraising agreements for crypto companies fell by 18% compared to 2018, while the value of these agreements dropped by 40%.
Regarding merger and acquisition agreements, their number fell by 40%, while their value was reduced by 76%.
Henri Arslanian, global crypto leader at PwC and one of the authors of the report, said:
"The crypto industry is not immune to the global headwinds, and the number and value of crypto fundraising and M&A deals may be impacted in 2020."
As a result, figures will probably keep falling during this year.
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