Cryptopayouts tracked on public blockchains across the ten largest proprietarytrading firms rose from $55.3 million in Q1 2025 to $115.1 million in Q1 2026,according to a new FM Intelligence analysis. Singapore Summit: Meet the largestAPAC brokers you know (and those you still don't!)The 109%year-over-year jump masks a sharper story, the figure barely moved against the$115.2 million recorded in Q4 2025, a 0.1% sequential change that points to aninflection after two years of rapid expansion.👉 Read the full FM Intelligence analysis here:Tracked Prop Firm Crypto PayoutsDoubled to $115M in Q1 2026Two Prop Firms Now Accountfor 71% of Tracked VolumeWithin thecohort, the distribution of growth was uneven. FundedNext CFDs climbed 293%year-over-year to $42.7 million, while MyFunded Futures rose 161% to $38.5million. Together the two firms represented 70.5% of Q1 2026 tracked payoutsacross the top 10. Six other operators moved the other way, with TopTier Traderdown 78%, FXIFY down 59%, and Blue Guardian and E8 Markets both postingdouble-digit declines. The broader 2025 payout league tablecompiled by Prop Firm Match put the full-year figure at roughly $325 million, excluding FTMO andThe5ers.Transactioncounts continued to climb even as aggregate dollar flows flattened. The cohortprocessed 61,682 payout events in Q1 2026, up 8.1% from Q4 2025 and 129%year-over-year. Average payout size fell to $1,865 from $2,020, suggesting moretraders are hitting first-payout thresholds but at smaller ticket sizes.Five Firms Added BrokerageLicenses in 10 MonthsThe plateauat the top has coincided with a structural pivot across the surviving cohort.Between May 2025 and March 2026, five prop firms or their founders addedregulated brokerage entities to their corporate structures. FTMO closed its $250 million acquisitionof OANDA onDecember 1, 2025, financed through a UniCredit-led credit line. FundedNext launched FNmarkets in May2025 under aComoros licence, with Mauritius and Dubai applications pending.The5ersfounders took a minority stake in CySEC-licensed TSG Brokers, which went livein January 2026. The Trading Pit registered TTP Markets with the SeychellesFSA, and Seacrest, formerly MyFundedFX, shut down its prop operations in earlyFebruary 2026 to operate exclusively as an FSCA-regulated CFD broker. FMIntelligence estimates approximately 80 to 100 prop firms ceased operationsbetween January 2024 and Q1 2026.The Math That StillDefines the IndustryFPFXTechnology data covering 300,000 accounts across 10 firms shows a 14% challenge pass rate and a 7%payout rate, withaverage payouts equal to roughly 4% of funded account size. The July 2025insolvency of Funded Unicorn, which described losses in the high seven figuresfrom mirroring all funded positions one-for-one in the market, illustrated therisk that brokerage infrastructure is now being built to address. Nojurisdiction has enacted bespoke prop firm regulation as of April 2026. TheCzech National Bank, CySEC, and ASIC have signaled scrutiny without concreterules. The CFTC's case against MyForexFunds wasdismissed with prejudice in May 2025 after a special master found the regulator hadtaken "deliberate steps down a path of obfuscation and avoidance."Yesterday (Tuesday), propfirm E8 Markets releaseda PR statement warning retail traders about the CFD market, noting thatmost participants lose money there. At the same time, it describes itself as a“SaaS educational simulation platform for financial markets” to avoidregulatory scrutiny.👉 Read the full FM Intelligence breakdown, includingfirm-by-firm payout tables, the brokerage build-out tracker, and sequentialcomparisons:Tracked Prop Firm Crypto PayoutsDoubled to $115M in Q1 2026This article was written by Damian Chmiel at www.financemagnates.com.