Q2 Crypto Industry Financing and M&A Totals $12.86 Billion, Debt Financing Becomes Second Largest Source

Odaily Planet Daily News In the second quarter of 2026, 271 completed transactions in the crypto industry involved a total of $12.86 billion, an increase of approximately 45% from $8.87 billion in the first quarter. Among these, venture capital led with $4.99 billion, accounting for 39% of the total and involving 218 rounds; debt financing reached $4.36 billion, involving only 9 transactions, more than tripling compared to the previous quarter. IREN's single $3.65 billion financing round accounted for 84% of the total debt financing. Additionally, M&A transactions totaled $3.33 billion, involving 40 transactions. The top ten transactions accounted for 67% of the disclosed funds, indicating that industry financing remains highly concentrated.