Recently, the global cryptocurrency field has been rife with hot topics. New changes have emerged in policy promotion, market adjustment, and international dynamics, continuously drawing high attention both within and outside the industry.
Policy trends: Multiple parties are promoting the strategic layout of Bitcoin, and the policies of the Federal Reserve are drawing attention
The United States has been making frequent moves at the level of cryptocurrency policy, sending out positive signals. Senator Cynthia Lummis of Wyoming, the United States, disclosed on Tuesday that Trump supports the Bitcoin bill she proposed. At the Bitcoin Conference held in Las Vegas, Loomis said that the Trump administration has a dedicated team to handle digital asset affairs, and relevant policies will be rolled out in sequence around stablecoins, market structure and Bitcoin strategic reserves.
In her draft Bitcoin bill, she explicitly suggested establishing a strategic Bitcoin reserve and planned to purchase one million Bitcoins. It is worth noting that at the “Bitcoin 2025” conference, Loomis also mentioned that US military generals hold a “strong support” attitude towards establishing a strategic Bitcoin reserve, believing that this measure will help enhance the country’s economic strength. At the same time, President Trump’s executive director also emphasized at the conference that “Bitcoin is the gold standard” and clearly stated that the US government will not sell any Bitcoin it holds.
The local level has also responded positively. According to Bitcoin Laws, the “Coordinating Committee” established by Texas on the Bitcoin Reserve Bill SB21 has successfully bridged the differences between the versions of the House of Representatives and the Senate and submitted the final report. The bill will be subject to a final vote in both houses. If passed, it will be submitted to the governor’s office. Once officially implemented, it will provide strong support for Texas in terms of Bitcoin strategic reserves.
In addition, US Vice President Vance said that approximately 50 million Americans hold Bitcoin and believes that this number will soon increase to 100 million. He welcomed the entry of cryptocurrencies into the “mainstream” of the US economy and vowed to establish “innovation-supporting” rules for digital assets.
Vance said that the Trump administration will quickly formulate a token regulatory framework pegged to the US dollar, and the next priority will be to create a “transparent and tailor-made digital asset regulatory framework – one that supports innovation and fully integrates cryptocurrencies into the mainstream economy”. In terms of policy supervision, a federal court in the United States (the United States Court of International Trade) on Wednesday blocked the “Liberation Day” tariffs imposed by US President Trump from taking effect, ruling that Trump’s imposition of comprehensive tariffs under the International Emergency Economic Powers Act, citing trade deficits and other reasons, was an act of overstepping his authority.
For the Federal Reserve, the minutes of its meeting pointed out that the staff’s forecast for real GDP growth in 2025 and 2026 was lower than that at the March meeting, because the announced trade policies meant that real economic activities would be more dragged down compared to the policies assumed by the staff in their previous forecasts. It is expected that trade policies will also lead to a slowdown in productivity growth, thereby reducing potential GDP growth in the coming years.
As the drag on demand is expected to start earlier and react more strongly than supply, the output gap is expected to widen significantly during the forecast period. It is expected that the labor market will weaken significantly. The unemployment rate is predicted to be higher than the workers’ estimate of the natural unemployment rate by the end of this year and remain above the natural unemployment rate until 2027. Nick Timiraos, the “Fed’s megaphone”, said that Fed officials stated at a meeting earlier this month that they were concerned that a significant increase in tariffs would push up prices and potentially trigger higher inflation.
Market Dynamics: Coinbase’s adjustment and Circle’s layout draw attention, and investment institutions are actively entering the market
Cryptocurrency trading platform Coinbase has issued an announcement regarding significant asset adjustments. Coinbase Assets stated that since Helium Mobile (MOBILE), Render (RNDR), Ribbon Finance (RBN), and Synapse (SYN) have all launched new versions, their original versions no longer meet the listing standards of the platform. Trading of these assets will be completely suspended around 14:00 Eastern Time on June 26th. At present, the above-mentioned assets have been switched to the limit order mode, and users can still normally carry out order placement, order cancellation and matching operations.
This adjustment covers the Coinbase website, exchanges and the Prime platform, triggering extensive discussions in the market about the adaptation of asset version updates to trading rules.
Circle has also made new moves in its market layout. Its latest IPO documents have disclosed key acquisition information. In January 2025, Circle acquired Hashnote for “$9.9 million in cash and approximately 2.9 million shares of outstanding common stock”, with a total transaction price of approximately “$99.8 million”.
In addition, the transaction also includes “distributing up to approximately 1.8 million ordinary shares with vesting conditions to some Hashnote employees”, and the related compensation costs will be recognized in installments. Circle plans to issue 24 million Class A ordinary shares in this IPO, with the pricing range set at $24 to $26 per share.
It is worth noting that since Hashnote, as the issuer of USYC, was acquired by Circle, according to the data from RWA.xyz, the position of USYC in tokenized US Treasury bond products has been on a downward trend. This change has also drawn close attention within the industry.
At the “Bitcoin 2025” conference, the managing director of BlackRock even stated directly that “the upside potential of Bitcoin is far greater than that of gold”, further sparking heated discussions in the market about the value and investment prospects of Bitcoin. It was previously reported that BlackRock planned to subscribe for 10% of Circle’s shares in the IPO, while Cathie Wood’s Ark Investment Management also planned to purchase stocks worth 150 million US dollars in Circle’s IPO.
As of the time of publication, according to data from CoinGecko, the cryptocurrency market has experienced significant fluctuations. The price of BTC is $107,900, with a 24-hour fluctuation of -1.1%. The price of ETH is $2,676.45, with a 24-hour increase or decrease of + 0.6%. The price of BNB is $687.15, with a 24-hour increase or decrease of + 0.1%. The price of SOL is $172.80, with a 24-hour fluctuation of -2.5%. The price of DOGE is $0.2212, with a 24-hour fluctuation of -2.1%. The price of XRP is $2.28, with a 24-hour fluctuation of + 1.8%.
International News: El Salvador’s Bitcoin battle with the IMF, Multiple countries Exploring New Crypto Strategies
The developments between the International Monetary Fund (IMF) and El Salvador on the Bitcoin issue have attracted much attention. In March this year, El Salvador reached a $3.5 billion loan agreement with the IMF, which clearly stipulates that “voluntary accumulation of Bitcoin by the public sector is prohibited”, and at the same time, the legal tender status of Bitcoin is abolished, and merchants no longer need to be forced to accept Bitcoin.
However, the actual situation is that El Salvador’s Bitcoin holdings have increased from 6,101.15 to 6,189.18, with a current value of approximately 678 million US dollars. Salvadoran President Bukele was resolute in his stance and declared: “It will not stop.” If we didn’t stop when the whole world rejected us and most of the “Bitcoin people” abandoned us, we won’t stop now or in the future.
Although El Salvador’s increase in Bitcoin holdings seemed to violate the terms of the loan agreement, the IMF still determined in its report that the overall implementation of the loan program was “performing well”, and key targets such as finance and reserves had been achieved. This situation highlights the complex role of Bitcoin in international financial cooperation and the economic decision-making of sovereign states, and also triggers in-depth global thinking on the regulation of cryptocurrencies and the autonomy of sovereign economies.
A cryptocurrency advisor to the Pakistani government announced on Wednesday that the country will launch a strategic Bitcoin reserve. Bilal Bin Saqib, the new special assistant to the Prime Minister of Blockchain and cryptocurrency, said at the Bitcoin 2025 conference held in Las Vegas that the Pakistani government is planning to establish its own strategic reserve of Bitcoin and said it was inspired by the relevant measures of the US government. It was also emphasized that these Bitcoins would be held and they would never be sold.
When it comes to blockchain applications, the CEO of GameStop explained why the company purchased over 505 million US dollars worth of Bitcoin, saying, “Bitcoin can hedge against the depreciation of global currencies.” Coinbase also announced that it has signed multi-year alliance agreements with Toronto FC and Toronto Argonauts, which will combine digital marketing campaigns and offer cryptocurrency education programs, aiming to enhance fan engagement.
Nasdaq-listed energy company VivoPower International (VVPR) said on Wednesday that it has reached a $121 million private equity placement agreement to fund its transformation into a digital asset-focused XRP strategy. The company plans to become a publicly traded company that formulates a crypto funding strategy centered on XRP.
From the firm steps of policy promotion, to the dynamic adjustment of market transactions and layouts, and then to the international competition around cryptocurrencies and the expansion of blockchain applications, the current global cryptocurrency industry is in a state of rapid evolution and profound transformation. Its future development is full of opportunities and challenges, and it is worth continuous tracking and attention.
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