According to CoinMeta, the wave of mergers and acquisitions (M&A) in the Gulf region is subsiding. In the third quarter, the value of M&A transactions involving Gulf companies dropped to around $5 billion, the lowest level since 2022, significantly lower than the $69 billion recorded during the same period last year. In 2025, M&A activity in the Middle East was high, with the most notable case being the $55 billion acquisition by Electronic Arts. However, the Iran war disrupted investment plans, and changes in the U.S. political landscape may lead to stricter scrutiny of large-scale M&A deals, causing market sentiment to turn cautious. Nevertheless, M&A activity in the Gulf region is still above the average of the past five years, indicating that the region is more likely experiencing a cooling down after the unusually active period in 2025 rather than a complete withdrawal from the global market. Wall Street financial institutions are also continuing to expand their local teams to seize related opportunities.