Crypto Markets Heat Up: Key Takeaways From Week 25, 2025
Bitcoin dodges volatility bullet as institutional inflows hit $2B—despite TradFi analysts still calling it a 'fad'.
Altcoins rally but DeFi gas wars spark Ethereum congestion—Layer 2 solutions eat their lunch with 80% cheaper transactions.
Regulatory rumble: SEC delays ETF decision (again), while Asia's retail traders flip memecoins like pancakes at a Sunday brunch.
Closing thought: If 2025's bull run follows historical patterns, we're either headed for ATHs or another 'Crypto Winter'—Wall Street's still betting against both.
Wall Street doesn’t take long to respond
Just one day after the GENIUS Act was passed, the long-established bank JPMorgan Chase announced a new pilot project. The financial giant is testing a digital token called “JPMD,” which represents dollar deposits on a 1:1 basis – similar to stablecoins, but backed exclusively by bank deposits. According to the bank, JPMD is therefore a superior alternative to stablecoins. In the pilot project, a fixed amount of the token will be transferred to Coinbase’s Base network. The aim is to test its use for international and decentralized applications by institutional investors.
Crypto Valley falling behind
Between 2015 and 2019, crypto Valley played a leading role thanks to clear guidelines and political cooperation. After that, it became rather quiet. Switzerland gradually lost relevance as a hub for blockchain companies. To counter this trend, the Swiss Blockchain Federation (SBF) invited 30 industry representatives to the Federal Palace. After a tour led by Zug Council of States member Matthias Michel, Federal Councillor Guy Parmelin gave a speech, pledging the Federal Council’s support for the industry. The goal is to strengthen Switzerland’s position as a leading blockchain hub over the long term. A particular focus is on legislation for stablecoins and adjustments to the FinTech license.
Tokenized stock trading
US crypto exchange Coinbase is seeking SEC approval to offer trading of tokenized stocks. If granted, it would be the second platform after Kraken to do so – and the first in the US. Tokenized stocks transfer traditional securities into digital tokens based on blockchain technology. Investors do not hold direct shares but rather a token that represents ownership rights. According to Coinbase CLO Paul Grewal, the model offers 24/7 trading, faster settlement, and lower costs – if the SEC gives the green light.
Crypto conflict between Israel and Iran
In addition: Iranian crypto exchange Nobitex was the target of a cyberattack this week, resulting in the theft of around USD 100 million in cryptocurrencies. The pro-Israeli hacker group Gonjeshke Darande, also known as “Predatory Sparrow,” claimed responsibility. Blockchain analysis revealed that the stolen funds were sent to so-called “burner addresses” to permanently destroy them. The attack appears to have been politically motivated rather than financially. The incident shook the crypto community and led to nationwide internet and phone disruptions, as the Iranian government worked to fend off further attacks. The events highlight the growing role of cyberattacks in geopolitical conflicts and the high vulnerability of critical infrastructure in the digital age.
