FalconX co-founder and CEO Raghu Yarlagadda expects transaction costs for cryptocurrencies to rise as more institutional players enter the market and regulations tighten. This, in turn, will trigger a "wave of consolidation" in 2025, he said in an interview. Yarlagadda added: "Currently, we are actively exploring potential acquisitions and evaluating the relevant industries and the major players within them. A spokesperson for FalconX said that potential acquisition opportunities have increased significantly. They added that the company is looking to acquire premium small companies focused on institutional infrastructure, data and analytics, tokenization, and to expand its transaction team in 2025.