Crypto Markets Weekly Pulse: Key Moves & Shocks in Calendar Week 32 (2025)
Bitcoin dodges FUD—altcoins rally as institutional money floods in.
DeFi tokens defy gravity while TradFi bankers scramble to explain 'temporary anomalies'.
BNB hits new ATH—proof that centralized chains still rule... for now.
Regulators 'monitoring the situation' (translation: drafting punitive legislation).
Closing thought: Wall Street still can't decide if crypto is a scam or the greatest missed opportunity since the dot-com bubble.
Crypto reform at the SEC
The U.S. Securities and Exchange Commission (SEC) has introduced a comprehensive roadmap for cryptocurrency regulation with “Project Crypto.” The goal is to apply existing securities laws more effectively to digital assets while simultaneously fostering innovation. The SEC does not plan to introduce new laws but rather relies on tailored exemptions and transitional regulations. A key element: crypto assets will no longer be classified strictly as securities or non-securities but instead evaluated based on a tiered risk model. Crypto exchanges will also be able to apply for a special ATS license – marking the first regulatory framework for spot trading in the U.S. Stablecoin issuers, custodians, and DeFi protocols may also be allowed to register under certain conditions without being fully subject to the requirements of traditional exchanges. The reform is seen as a major step toward legal clarity for crypto projects in the United States.
US bets on stablecoins
2025 marks a turning point for stablecoins: with the U.S. GENIUS Act, the regulatory landscape has shifted from uncertainty to clear, supportive frameworks. Following early experiments like USDT and the regulatory wake-up call triggered by Facebook’s Libra, jurisdictions like the EU, the United Kingdom, Hong Kong, and Singapore had already established stable regulations by 2023. The GENIUS Act – often referred to as the crypto industry’s “interstate highway” moment – now introduces the first comprehensive legal framework for payment stablecoins in the U.S. It defines strict requirements for reserves, transparency, and AML and KYC standards. The result: a boom in the stablecoin market, fueled by newly gained regulatory clarity.
Ripple continues acquisition strategy
Ripple is driving its expansion through acquisitions and plans to acquire the Canadian payments platform Rail for 200 million U.S. dollars. The goal is to strengthen its own stablecoin RLUSD in global payments and unlock new institutional use cases. Rail offers regulatory-compliant stablecoin payments for enterprises and complements Ripple’s infrastructure for tokenized transactions. The deal signals Ripple’s ambition to take a leading role in digital payments. The integration of Rail into Ripple’s existing product suite also provides synergies with other solutions such as On-Demand Liquidity (ODL) and services from Hidden Road, the prime broker acquired in April. The impact of this aggressive acquisition strategy on Ripple’s native cryptocurrency XRP remains unclear.
Crypto companies go public
In addition: since the regulatory shift in the U.S., an increasing number of crypto companies are heading for public listings. Figure and Bullish, two heavyweights from the crypto finance sector, are preparing for U.S. IPOs. According to media reports, both have filed confidential documents with the SEC and are aiming for multi-billion-dollar valuations. Unlike earlier IPOs such as Coinbase’s, Figure and Bullish are specifically targeting institutional investors and rely on regulated market infrastructures. This underscores the growing institutional appetite for tokenized assets, real-world assets, and compliant trading venues.
