Amidst a sluggish global market, web3 private financing faces a notable downturn. Working hands-on in the web3 financial services industry, we’re seeing many startups weigh off potential different paths forward, in many cases looking to M&A as the pragmatic solution to achieving both the aspirations of the founding team and their company.

Accordingly, this founder guide lays out the framework for when to consider M&A for your company. We describe the depth of M&A activity in the web3 market relative to the traditional financial industries, as well as explain the key drivers and challenges impacting these transactions.