Bitcoin Soars to Record Highs
In July 2025, Bitcoin surged past $120,000, briefly hitting a new all-time high near $123,000 before a slight correction. This rally was driven by increased institutional interest, global inflation concerns, and the growing perception of Bitcoin as a digital store of value. Ethereum also climbed above $7,000, while altcoins like Solana, XRP, and Cardano posted strong gains. The total crypto market capitalization surpassed $4.8 trillion, reflecting broader mainstream adoption and greater liquidity across exchanges worldwide.
GENIUS Act: Landmark Crypto Legislation Signed Into Law
On July 18, 2025, President Donald Trump signed the GENIUS Act, introducing comprehensive regulations for stablecoin issuers in the United States. The act requires full 1:1 fiat collateral backing, monthly third-party audits, and federal registration of stablecoin companies. The legislation aims to increase transparency, protect consumers, and reduce systemic risks associated with stablecoins. While widely welcomed by institutional players, some critics caution that the stringent rules may hamper innovation and push some projects offshore.
White House Pushes for Broad Crypto Integration
The White House Digital Assets Policy Working Group published a 160-page report proposing extensive blockchain integration across government and financial sectors. The plan recommends using blockchain for tax collection, mortgage lending, public benefits distribution, and retirement account management to improve efficiency, security, and accessibility. The report also promotes pilot programs involving digital identities using privacy-focused technologies. This initiative highlights the U.S. government’s commitment to embracing blockchain while ensuring regulatory oversight and consumer protections.
JPMorgan and Coinbase Announce Strategic Partnership
JPMorgan Chase and Coinbase announced a partnership allowing Chase customers to link their bank accounts to Coinbase wallets. Starting in Q4 2025, users can make instant fiat-to-crypto transfers, sync portfolios in real time, and redeem Chase reward points for cryptocurrencies like Bitcoin and Ethereum. The collaboration features enhanced security, FDIC-insured fiat accounts, and a user-friendly interface. JPMorgan CEO Jamie Dimon acknowledged the shift, stating, “Cryptocurrency is here to stay, and we are committed to responsibly enabling our clients to participate in this transformative space.” This partnership marks a significant step toward mainstream crypto adoption within traditional finance.