2025 was a year of transformation for the crypto market, forged in ice and fire.
Throughout the year, we witnessed the euphoric狂欢 ignited by Bitcoin's new highs, and also personally experienced the darkest清算 moments of resonance from macro impacts and liquidity drying up; the policy supercycle initiated by Trump shifted crypto regulation from aggressive enforcement to encouraging innovation, opening the floodgates for large-scale entry by traditional financial giants; the industry is no longer just about storytelling but is gradually moving towards real-world applications, with the轮廓 of everything on-chain becoming increasingly clear; the accelerated opening of ETF, DAT, and IPO channels brought a massive influx of Wall Street liquidity, reshaping the capital structure and pricing logic of crypto.
This year marks both a coming-of-age ceremony for the crypto industry, shedding its immaturity and moving towards成熟, and the starting point for its true entry into the mainstream视野. This PANews article梳理 the 2025 timeline, reviewing those critical moments that changed the crypto industry.
January
16th Anniversary of Bitcoin's Genesis Block
FTX Reorganization Plan Takes Effect
Trump and his wife successively launch meme coins
Trump formally sworn in as the 47th President of the United States
SEC Chairman Gary Gensler officially steps down
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Trump Family Stirs Again! "First Lady Coin" MELANIA's Market Cap Briefly Surpasses $10 Billion, Multiple Token Details Spark Market Controversy
The Dark Forest of MEME Coins: Industrialized Harvesting Assembly Lines Make Millions Daily, Retail Investors Struggle to Strike Gold with a 0.01% Retention Rate
The Truth About TRUMP Token Wealth: An Arena for Big Players, Average Buy-in of $590,000, Address Bought $1.09 Million One Minute After Token Launch
The Trump 2.0 Era: What New Changes in Cryptocurrency Regulation? A Review of Key Policy Adjustments in the First 8 Weeks
Key Points from the US "Crypto Czar's" First Digital Asset Press Conference: Advancing Market Structure and Stablecoin Bills, Evaluating Bitcoin Reserves
TRUMP Rises, Solana Reigns: Behind the President's Coin Launch - Who Wins, Who Benefits? What's the Impact on the Crypto Market?
Countdown to Stepping Down! SEC Chairman Gary Gensler Accepts Public Interview, Responds to 11 Key Questions on Cryptocurrency and Capital Markets
The Crypto Market in the PVP Era: How Can Retail Investors Break Through?
February
Argentine President Javier Milei Accused of Fraud in LIBRA Token Scandal
Bybit Hacked, $1.44 Billion Worth of Funds Withdrawn
Crypto Treasuries Become Popular, Stock-Token Concept Heavily Hyped
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The Night of the $1.4 Billion ETH Theft Scare: Impact of the Bybit Security Incident on Ethereum and the Crypto Industry
Libra's Hunting Game: Nearly 30% of Big Players Buy at Highs, Over 70,000 Addresses Harvested
Accused of "Paying Off" the President's Sister, Behind Multiple "Rug Pulls": Who is Libra Issuer Kelsier Ventures?
MicroStrategy Renames to "Strategy", Q4 Holdings Almost Double, Aims to Be Bitcoin's "Smart Leverage"
After the Bybit Hack, How Can DeFi Effectively Respond to Market Turbulence?
March
Bitcoin Included in US Strategic Reserves
US Treasury Officially Lifts Sanctions on Tornado Cash
CZ's MEME Experiment
Binance Receives $2 Billion Investment from Abu Dhabi's MGX
Hyperliquid 3.12 Whale Event, Top Exchanges Jointly Snipe
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Binance Joins Hands with UAE Royalty: Sovereign Fund MGX Invests $2 Billion Heavily in Crypto, Binance Makes Friends with Low Valuation?
Mubarak Sparks Middle East MEME Trend on BNB Chain, CZ and He Yi Assist On-Chain Sentiment
From Livermore to Crypto Whales: A Century-Spanning Trading暗战, Deciphering the Offensive and Defensive Game Behind the $300 Million Order on Hyperliquid
BlackRock CEO's Annual Letter to Investors: Bitcoin May Challenge Dollar's Global Status, Tokenization is the Financial Highway of the Future
The Strategic Bitcoin Reserve Promised by Trump is Here! Confiscation Storage Falls Short, May Acquire More Bitcoin Without Burdening Taxpayers
April
US Government Announces "Reciprocal Tariffs", Global Stock Markets Plunge, BTC Drops Below $75,000
Spot Gold Breaks Through $3,200 for the First Time
Binance Alpha Points Game
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Trump Wields "Tariff Big Stick" Bloodies the Globe, Crypto Market Sees Another "Black Monday"
Binance Alpha Points "Asura Field": A Web3 Wallet War Where Whales Swallow 90% Market Share
When Panic Knocks: Finding Signals for Change in the Crypto Market from 239 Panic Moments Over 7 Years
Gold Continuously Hits New Highs, How to Invest in Gold标的 in the Crypto Market?
Pushing Gold Stablecoin, Inviting CZ as Web3 Advisor, Kyrgyzstan Presses the "Accelerator Button" on Blockchain National Strategy
May
BTC Breaks Through $110,000
DEX Cetus Hacked, Losses Exceed $200 Million
Pump.fun Suffers Vampire Attack
US SEC Officially Drops Lawsuit Against Binance and Changpeng Zhao
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Pump.fun's Dominance Challenged by New Platform, MEME Coin Glonk Traffic War Ignites, Founder Steps In to Assist
CZ's Pardon, Far More Than a Presidential Order
Running Around, Self-Rescue: Changpeng Zhao's 180 Days Before the Pardon
Signals of "Selling the Top" After Bitcoin's New High? Long-Term Holders Take Profits, Market Enters Distribution Game Stage
Trump Media Group Mimics MicroStrategy, Launches $2.5 Billion Bitcoin Treasury Plan, Presidential Family Plays Heavily with Financial Tools
June
Satoshi Nakamoto's Net Worth Reaches $116.7 Billion, Surpassing Bill Gates
Lee Jae-myung Elected President of South Korea
"Stablecoin First Share" Circle Lists, Stock Price Rises 6.13% on First Day
Israel Strikes Iran, Ceasefire Agreement Reached After 12 Days
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The Capital Game of "Stablecoin First Share" Circle: Old Shareholders Cash Out, Wall Street Enters, What Should Retail Investors Do?
Sorting Out Circle Major Shareholders' Cash-Outs: Largest External Shareholder IDG Cashes Out Only $68 Million, Multiple Executives Sell Missing Out on Hundreds of Millions in Profits
Pop Mart Angel Investor Mai Gang's "Enlightener": How Silicon Valley Venture Capital Father Tim Draper Bets on Bitcoin and the Next Era
Crypto Market Becomes New Battlefield in Iran-Israel Shadow War, Crypto Market Under Theocratic Regimes Cast in Shadow
Another "Crypto President"? Lee Jae-myung Gambles on Series of New Crypto Policies in South Korea, Igniting Market Imagination
Arca Condemns Circle's Betrayal: Why Did the IPO Feast Abandon Crypto Allies and Favor Wall Street?
July
Trump Signs "Big and Beautiful" Tax and Spending Bill
Trump Formally Signs Stablecoin-Related Bill "GENIUS Act"
Tenth Anniversary of Ethereum's Genesis Block
Ethereum DAT Companies Arrive, ETH Market Cap Rises to 28th Place in Global Assets
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PANews Releases "2025 Global Stablecoin Industry Development Report": Dollar Stablecoins Occupy 99% of Market, USDC Expected to Surpass USDT by 2030
US Banking Industry Jointly Boycotts "GENIUS Act", Stablecoin Shockwave Shakes Traditional Giants
Wall Street's "Oracle" Tom Lee Turns ETH Mega-Bull, Why is He Firmly Bullish on Ethereum and Its Treasury Strategy?
BlackRock 20-Year Veteran All In on Ethereum, Joseph Chalom Joins SharpLink to Compete to Be the Ethereum Version of MicroStrategy
After "Suffering from EF for Too Long", Can the Newly Established Ethereum Community Foundation Rekindle ETH Faith?
Tenth Anniversary of Ethereum Mainnet Launch: From the Genesis Group of Eight to the Key Figures of the Decentralized Community
August
Hong Kong's "Stablecoin Bill" Officially Takes Effect
BTC Touches $124,000, Market Cap Surpasses Google, Rises to 5th Place Among Global Assets
Shanghai Composite Index Breaks 3800 Points, Continues to Set Nearly 10-Year High
RWA Gold Rush
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Interpreting Hong Kong Stablecoin Application Guidelines: First Batch of Licenses Expected Early Next Year, Holders Must Complete Identity Verification
How Much Does It Cost for Traditional Enterprises to Enter RWA?
Hong Kong's "Stablecoin Ordinance" Effective August 1st, Initially May Only Issue a Few Licenses, Will Criminalize Promotion of Unlicensed Stablecoins
Tokenized Stocks Become Crypto's New Darling, What About Altcoins?
Rolex: The Top Alarm Light of the Crypto Bull Market
September
Total Stablecoin Market Cap Breaks $290 Billion
SEC Approves ETF Universal Listing Standards
BNB Market Cap Breaks $140 Billion, Surpasses Intel to Rank 155th Among Global Assets
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US Crypto ETF Gets Regulatory "Green Light": Universal Listing Standards May Land Within 60 Days, Which Projects Become Winners?
Inventory of 7 Major Stablecoin-Specific Chains: Forget the L2 War, Tether, Circle, Stripe Have Opened a New Payment Battlefield
Lessons from the Cetus Security Incident: Over $200 Million Stolen
Circle and Stripe Step In to Build Public Chains, Stablecoin Public Chain War Fully Erupts
BNB Market Cap Surpasses MicroStrategy, Backed by National Reserves and Nasdaq Support, It Stands Alongside BTC and ETH as a Global Strategic Asset
October
US Government Officially Shuts Down
Elon Musk Becomes First Person in History with Net Worth Breaking $500 Billion
"10.11 Crash", Single-Day Liquidations Exceed $19 Billion
US Sues Prince Group's Chen Zhi and Seeks to Forfeit Over 127,000 Bitcoins, US Government BTC Holdings to Reach 324,000
Spot Gold Breaks Through $4,200
Privacy Track Welcomes "Second Spring", ZEC Market Cap Breaks $6 Billion
Binance Life Sparks Chinese Meme Craze
NVIDIA Market Cap Breaks $5 Trillion
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Post-Mortem of Crypto's Largest Liquidation Event, A Toughness Showdown from DeFi to CEX
Data Analysis After ZEC's Counter-Trend Surge: Starts with Demand, Ends with Sentiment
Revelations from Crypto Avalanche Day: The Triple Contagion Chain of the Market Crash, How Does the Industry Rebuild a More Robust Foundation?
Privacy Narrative Makes Strong Comeback: Zcash Soars Over 220%, Ethereum Foundation Upgrades "Privacy Strategy"
Tether's Gold Empire: The Ambition and Cracks of a "Borderless Central Bank"
Binance Life vs. OKX Life: In the Era of Crypto "Blind Flight", Who Should Step on the Final Brake for Us?
NVIDIA Market Cap Reaches $5 Trillion, But the Crypto Circle is Frustrated
After the Crypto "Mega-Quake": Bitcoin's Resilience Remains, Where Do Altcoins Go?
Uncovering the "Scam Empire" of Cambodia's Prince Group Chen Zhi: The $15 Billion Bitcoin Black Money Ledger
Gold "Big Bull" Report: Why Gold Could Reach $8,900 by the End of 2030?
November
UK's Largest Bitcoin Money Laundering Case Verdict, Qian Zhimin Sentenced to 11 Years 8 Months, 61,000 Bitcoins Confiscated
Longest US Government Shutdown in History Ends
Bitcoin Falls Below $81,000, Crypto Market Plummets Across the Board
Coinbase's x402 Protocol Gains Popularity
Altcoin ETFs List Successively
Hyperliquid, Aster, Lighter, and edgeX Stage Perp DEX Melee
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Can the $40 Billion in Bitcoin Qian Zhimin Took Away Be Returned to China?
Does the Market Always Bounce After a Shutdown Ends? Reviewing the Performance of US Stocks, Gold, BTC After Past Government Restarts
Aster's "Trojan Horse": How to Use BNB Chain as a Stepping Stone, Aiming for the Hyperliquid Throne?
World's Most "Profitable" Company Changes Hands: Crypto Team of 11, Average Revenue per Person $100 Million
HIP-3 Becomes Hyperliquid's New Engine: Leading DEX Drives Trading Volume Tenfold Surge, Ecological Challenges Remain
New and Old Perp DEX Competition: Hyperliquid Faces Hundred-Billion Unlock Pressure, New Platforms Grab Traffic with Incentives
27-Year Wall Street Trader: AI Bubble Will Burst! Bitcoin is No Longer "Sexy", Market Correction is Just the Appetizer
Forbes: Bitcoin's "Identity Anxiety"
Interpreting the Hot x402 Protocol: How to Unlock the New Economy of Ad-Free, Gas-Free Smart Agents?
December
MicroStrategy Faces FUD Over Risk of Removal from MSCI Index
Ethereum Activates Fusaka Upgrade
Fed Leads Rate Cuts, Japan's Rate Hike靴子落地
Terraform Labs Founder Do Kwon Sentenced to 15 Years in US
Prediction Market Expands Exponentially
SEC Announces Crypto Innovation Exemption Policy
HashKey Officially Lists on Hong Kong Stock Exchange
Fed Chair Candidate Finalized Imminently
China Tightens Crypto Regulation Again, Involving Mining, Stablecoins, and RWA
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Trial Delayed 1314 Days, Mastermind of $40 Billion Stablecoin Collapse Sentenced to 15 Years
"Struggle of a Cornered Beast": Crypto Treasury Companies Are Losing Their Bottom-Fishing Ability
Ethereum Activates Fusaka Upgrade, L2 Gas Fees Drop Another 60%
New Gameplay Arena: Can Prediction Markets Stir the Deep Waters of US Sports Business?
MSCI Delisting Storm Sounds Short-Selling Alarm, Strategy Becomes Crypto Market's "Pressure Valve"
Fed Announces End of QT, Is Crypto Getting the "Starting Gun" or Needs to Endure Another Winter?
HashKey Officially Lists on HKEX, Wanxiang Leader Scores Another IPO
Market Liquidity Survey: Under Liquidity Decay, Retail "Buys Lottery Tickets", Main Force "Purchases Insurance"
Ethereum at a Crossroads: Quantum Threat Approaches, Wall Street Capital Double Squeeze
Kevin Warsh Emerges Mid-Race, How Did an Inflation Hawk Become a Hot Fed Chair Candidate?
Fed's "Shadow Chairman" Kevin Hassett: Dove, Crypto-Friendly, and "Trump Puppet"
Central Bank: Continued Crackdown on Virtual Currency Trading Speculation, Does Virtual Currency Still Have Living Soil in China?







