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UK Lifts Crypto Ban: Bitcoin ETPs Now Trade on London Stock Exchange

The Financial Conduct Authority’s (FCA) recent decision to lift its four-year ban on retail cryptocurrency exchange-traded products marks a major milestone for the UK crypto market. Beginning in October 2025, British investors can once again gain exposure to Bitcoin through regulated exchange-traded products (ETPs) on the London Stock Exchange (LSE) — without having to buy or store the cryptocurrency directly. The policy reversal effectively ends a restriction first imposed in January 2021, which barred retail investors from trading crypto-linked ETPs and derivatives due to perceived market volatility and consumer risk. This development represents a pivotal step in integrating digital assets into mainstream finance. With an estimated 7 million Britons (around 12% of adults) already owning cryptoassets, the FCA’s decision opens a new, regulated avenue for investors seeking safer, exchange-based access to Bitcoin exposure. It also signals a broader shift in the UK’s approach to crypto — from one of heavy restriction to cautious inclusion. Now, through products like BlackRock’s iShares Bitcoin ETP (IB1T) and offerings from 21Shares, Bitwise, and WisdomTree, UK retail and institutional investors alike can participate in the Bitcoin market through familiar, regulated investment channels. What Is a Bitcoin ETP? A Bitcoin Exchange-Traded Product (ETP) is a regulated investment vehicle that allows investors to gain exposure to Bitcoin’s price movements through the stock market. Instead of buying and holding the cryptocurrency directly, investors purchase shares of a product that tracks Bitcoin’s market value. Each share represents a portion of Bitcoin held by the issuer or custodian, meaning the product is physically backed by Bitcoin held in secure custody. In simpler terms, a Bitcoin ETP lets investors gain exposure to Bitcoin’s performance without managing wallets, exchanges, or private keys. It trades like a stock or ETF, and can be bought through regular brokerage accounts or even within tax-advantaged wrappers such as ISAs or SIPPs in the UK. Investors avoid the technical complexities of owning Bitcoin but still benefit (or lose) from its price movements. Bitcoin ETPs differ slightly from traditional Exchange-Traded Funds (ETFs). While both trade on exchanges and track underlying assets, most Bitcoin ETPs are structured under the Securities Act of 1933, not the Investment Company Act of 1940, which governs most ETFs. As a result, they aren’t subject to the same operational rules and investor protections. Additionally, Bitcoin ETPs tend to have higher management fees and may not carry the same regulatory safeguards as mainstream ETFs. The main advantage of ETPs is accessibility and simplicity — investors can gain Bitcoin exposure without dealing with crypto exchanges or custody risks. However, this convenience comes at a cost: investors don’t truly “own” Bitcoin, only a representation of it. They also rely on the issuer’s ability to hold the Bitcoin securely, and the product’s value can fluctuate sharply with market volatility. In other words, Bitcoin ETPs make crypto investing easier, but not less risky. Why the UK Regulator Finally Opened the Door to Bitcoin ETPs For years, the UK maintained one of the strictest stances on crypto-linked investment products. In January 2021, the Financial Conduct Authority (FCA) officially banned retail investors from buying, trading, or holding crypto-based derivatives and exchange-traded notes (ETNs). The regulator argued that such products were “ill-suited for retail consumers” because of high volatility, valuation challenges, and the risk of financial loss. At the time, this ban reflected widespread skepticism toward digital assets, which were still seen as speculative and largely unregulated. However, the crypto landscape has changed dramatically since then. Institutional adoption has surged, and major economies like the United States and Hong Kong have already approved Bitcoin ETFs, legitimizing the asset class within regulated markets. Meanwhile, crypto market infrastructure has matured, with stronger custodial frameworks, improved liquidity, and clearer regulatory standards. These developments prompted the FCA to revisit its position, recognizing that a blanket ban no longer served investor protection — instead, it pushed traders to unregulated offshore venues. In May 2024, the FCA lifted its ban, paving the way for Bitcoin and Ethereum ETPs to trade on the London Stock Exchange (LSE). While these products are currently restricted to professional and institutional investors, the move marks a major policy shift that acknowledges crypto’s growing legitimacy within the financial system. The decision reflects a broader strategy: embrace regulation, not restriction. By bringing Bitcoin ETPs under the umbrella of regulated exchanges, the UK aims to protect investors through governance, audits, and disclosure requirements rather than exclusion. This approach aligns with the government’s ambition to make the UK a global crypto hub, balancing innovation with investor protection and reinforcing London’s status as a forward-looking financial center. The UK’s First Bitcoin ETPs Go Live on the LSE Following the FCA’s landmark decision in May 2024, the London Stock Exchange (LSE) officially opened trading for Bitcoin and Ethereum Exchange-Traded Products (ETPs), marking a historic moment for the UK financial system. This debut signified the first-ever listing of regulated crypto investment products on one of the world’s oldest and most respected stock exchanges — a milestone that placed London firmly on the map as a serious player in the global digital asset arena. The inaugural listings came from leading issuers WisdomTree, 21Shares, and Invesco, all of which already operate successful crypto ETPs across Europe. Each product is physically backed by its respective cryptocurrency — meaning that for every share issued, the provider holds an equivalent amount of Bitcoin or Ether in secure, institutional-grade custody. Through this structure, investors can gain exposure to crypto prices without directly handling digital assets, while benefiting from regulated trading, transparent pricing, and daily liquidity on the LSE. Market reaction to the launch was overwhelmingly positive. Institutional investors welcomed the move as a long-awaited bridge between traditional finance and the crypto economy. Analysts viewed the debut as a symbolic turning point for the UK — signaling that London is once again embracing financial innovation. Although retail investors are still excluded for now, the success of these listings is expected to lay the groundwork for broader participation and could eventually lead to the approval of spot Bitcoin ETFs in the UK. In essence, the launch of Bitcoin ETPs on the LSE marks the UK’s official re-entry into the global crypto race — this time, with regulation and credibility at its core. How the UK’s Bitcoin ETPs Compare to U.S. Bitcoin ETFs The debut of Bitcoin ETPs on the London Stock Exchange (LSE) naturally invites comparison with the U.S. Bitcoin ETFs, which began trading in January 2024 after being approved by the U.S. Securities and Exchange Commission (SEC). Both products give investors exposure to Bitcoin’s price through regulated markets, but they differ significantly in terms of accessibility, structure, and regulation. These distinctions highlight how each country is shaping its approach to crypto integration. The U.S. Approach: Bitcoin ETFs for Everyone In the United States, Bitcoin Exchange-Traded Funds (ETFs) are available to both retail and institutional investors. These funds are spot-based, meaning they are physically backed by Bitcoin held in regulated custody. The SEC’s approval of spot Bitcoin ETFs in January 2024 was a turning point for the industry, legitimizing crypto investing within traditional finance. Since then, U.S. ETFs have attracted strong demand from both individual and institutional investors. Key highlights of U.S. Bitcoin ETFs: Available to all investors through standard brokerage platforms. Issued by major financial institutions such as BlackRock, Fidelity, and Ark Invest. Physically backed by Bitcoin held by regulated custodians. Have attracted billions of dollars in inflows since launch. Operate under the Investment Company Act of 1940, which provides strict investor protections. The UK’s Model: Institutional-Only Bitcoin ETPs The UK has taken a more cautious route. Although the Financial Conduct Authority (FCA) lifted its crypto ban and approved Bitcoin and Ethereum ETPs for trading on the London Stock Exchange in May 2024, these products are currently limited to professional and institutional investors. The FCA continues to restrict retail access due to concerns over volatility and investor risk. Key highlights of UK Bitcoin ETPs: Accessible only to professional and institutional investors. Physically backed by Bitcoin or Ether held in institutional-grade custody. Structured as Exchange-Traded Products (ETPs) rather than ETFs. Regulated by the FCA and listed on the London Stock Exchange. Despite these differences, both markets share a common goal: to make Bitcoin investing safer and more transparent. While the U.S. focuses on accessibility through retail ETFs, the UK is taking a cautious, institution-first approach that could eventually open the door for broader participation. What the Launch Means for Crypto Investors and the UK Market The debut of Bitcoin ETPs on the London Stock Exchange marks a turning point for the UK’s financial landscape, signaling that crypto has earned a seat at the institutional table. For professional investors, it introduces a regulated, transparent, and secure way to gain Bitcoin exposure without directly holding the asset. Pension funds, asset managers, and hedge funds can now access Bitcoin within existing compliance frameworks, potentially driving significant capital inflows and improving liquidity across the digital asset market. While retail investors remain excluded for now, this development lays the foundation for broader market access in the future. The FCA is clearly testing institutional waters first, ensuring the market operates safely before opening it to the public. Over time, successful adoption and strong governance could prompt regulators to expand participation — positioning the UK as a global leader that blends financial tradition with digital innovation. Challenges Ahead and What Comes Next Despite the optimism surrounding the UK’s Bitcoin ETP debut, several challenges remain. The biggest is the limited investor access — with retail participation still off-limits, market growth will depend heavily on institutional appetite. Regulatory caution may also slow expansion compared to the U.S., where spot Bitcoin ETFs have seen explosive demand. In addition, volatility, cybersecurity risks, and evolving international standards continue to test regulators’ confidence in crypto-based products. Still, the long-term outlook remains strongly positive. By allowing Bitcoin ETPs on the London Stock Exchange, the UK has taken a major step toward integrating digital assets into its mainstream financial ecosystem. As investor confidence builds and regulatory frameworks mature, the FCA could eventually authorize retail access — a move that would fully open the doors to one of the world’s largest investment markets. For now, the UK’s approach reflects a clear message: crypto is here to stay, and it’s time to manage it — not ban it. Conclusion The UK’s decision to lift its crypto ban and allow Bitcoin ETPs on the London Stock Exchange marks a pivotal moment for both traditional finance and digital assets. It signals that crypto has moved beyond speculation into the realm of regulated investment, offering institutions a safer and more transparent way to gain exposure to Bitcoin. This move not only enhances market credibility but also positions London alongside New York and Hong Kong as a key player in the next phase of global crypto integration. While retail investors must wait their turn, the groundwork has been laid for broader inclusion. If institutional adoption proves successful and oversight remains strong, the FCA could eventually extend access to all investors, ushering in a new era of regulated crypto participation in the UK. In many ways, this is just the beginning — a cautious yet confident step toward merging the best of traditional finance with the innovation of blockchain technology.

Bitcoin Price Today: Can BTC Survive the ‘September Curse’?

Bitcoin’s price is once again under the microscope as the calendar turns to September, a month many crypto investors have learned to approach with caution. Bitcoin price today sits close to $110,000, following a late-August pullback. The timing is significant because September has earned a reputation as Bitcoin’s weakest month, with a long record of negative returns that market watchers often call the “September curse.” Historically, this month has been marked by declines averaging 3–5%, and in several years the losses were far steeper. That statistical backdrop has left investors wondering whether the pattern will repeat in 2025 or whether Bitcoin might finally avoid another seasonal downturn. In this article, we look at Bitcoin’s price prediction for September 2025 and whether it can overcome its troubled history. The ‘September Curse’ and Bitcoin’s Track Record Bitcoin (BTC) Price Source: CoinMarketCap For more than a decade, September has stood out as Bitcoin’s weakest month. On average, returns for this period have ranged from –3 to –5%, with the median closer to –3.1% since 2013. In some years, the declines have been much sharper. In September 2014, for example, Bitcoin dropped nearly 19%, one of its steepest monthly losses on record. The trend has been strikingly consistent. Between 2017 and 2022, Bitcoin closed lower in every single September, six years in a row. During that span, the market often saw sudden sell-offs triggered by regulatory announcements, liquidity squeezes, or broader risk aversion. Even in years when Bitcoin was in a strong uptrend, September frequently interrupted the momentum. Other assets have shown similar weakness. Ethereum has historically posted even larger average September losses, and the S&P 500 index has long been considered seasonally soft in September as well. This pattern has given rise to the idea of a “September curse,” a term traders now use almost instinctively when the month approaches. Why Bitcoin Struggles in September Several recurring factors help explain why September has often been unkind to Bitcoin: Market seasonality: After the quieter summer months, institutional investors return in September and rebalance portfolios. Risk assets such as cryptocurrencies are often reduced first, adding selling pressure. Macroeconomic timing: September frequently overlaps with Federal Reserve meetings. Policy shifts or hawkish signals have hurt sentiment. Regulatory shocks: Negative announcements have often clustered in this month. In 2017, China banned initial coin offerings, while in 2021, it extended restrictions to nearly all trading and mining activity. Both triggered sharp declines. Psychological expectations: Traders know September’s reputation and often act defensively in advance. Pre-emptive selling reinforces the cycle, turning fear of losses into actual price declines. Historical Downturns: Notable September Sell-Offs Several specific years stand out as examples of why September has long been viewed as a difficult month for Bitcoin: 2014: Bitcoin dropped close to 19% in September, one of its steepest monthly declines at the time. The market was still young and fragile, with thin liquidity and regulatory uncertainty weighing heavily. This early crash set the tone for September’s poor reputation. 2017: In early September, the People’s Bank of China banned initial coin offerings, striking at the heart of that year’s booming fundraising trend. Later in the month, China tightened restrictions on exchanges. Bitcoin, which had been nearing $5,000, quickly lost momentum and fell as traders reacted to the regulatory shock. 2019: The launch of Bakkt, a much-anticipated regulated Bitcoin futures platform, proved underwhelming. Traders had expected a surge of institutional demand, but volumes were weak in the opening days. Confidence faltered, and Bitcoin slid from around $10,000 at the start of September to below $8,000 by the end. 2021: China escalated its stance by outlawing nearly all cryptocurrency trading and mining activity in September. The announcement landed while Bitcoin was recovering from its mid-year dip, triggering another sharp sell-off. The move reinforced the view of September as a month of regulatory shocks. 2022: With inflation running high, the Federal Reserve raised rates by 75 basis points in mid-September, its fifth hike that year. The decision deepened investor risk aversion, and Bitcoin mirrored the weakness in equities. By the end of the month, BTC had extended its losing streak, closing September in negative territory once again. Breaking the Curse: Signs of Resilience Although September has often been difficult, the last two years have shown that Bitcoin can defy its seasonal reputation under the right conditions: 2023: Bitcoin managed to post a modest gain of around 4%, marking the first positive September after six consecutive years of losses. A key driver was a U.S. appellate court ruling in late August that criticized the SEC’s rejection of Grayscale’s spot Bitcoin ETF application. The decision revived optimism for U.S.-listed ETFs, improving sentiment enough to lift prices through September. 2024: Bitcoin delivered its strongest September on record, rising more than 7%. The surge followed the U.S. Federal Reserve’s first interest rate cut since 2020, which improved liquidity and encouraged risk-taking. At the same time, new Bitcoin ETFs launched in overseas markets, and anticipation grew that U.S. regulators would soon approve more products. The combination of easier monetary policy and stronger institutional demand helped Bitcoin overcome its seasonal weakness. These back-to-back gains suggested that the so-called curse was not unbreakable. Structural changes such as ETF inflows, a more mature market, and monetary easing created conditions that turned September into a month of opportunity instead of decline. Bitcoin Price Prediction for September 2025 Bitcoin begins September 2025 near $110,000, already showing signs of strain after a late-August pullback. Analysts are divided on how the month will unfold. Forecast ranges: Several research groups place Bitcoin between $108,000 and $125,000 for September. Some see $100,000 as the critical line of defense, while others suggest a breakout above $115,000 could push BTC toward $128,000. Downside risk: If support at $110,000 fails, projections warn of a slide toward $95,000–$100,000, reviving memories of earlier September slumps. Upside potential: Sustained momentum above $115,000 may confirm that the lows are in place, opening the door for a stronger rally into the fourth quarter. Technical indicators offer a mixed picture. The Relative Strength Index (RSI) has cooled from summer highs, pointing to consolidation rather than overbought conditions. The MACD is flattening, suggesting momentum could shift either way depending on near-term flows. Support levels are clustered at $110,000, $100,000, and $95,000, while resistance sits around $112,000–$115,000. Broader conditions add context. The Bitcoin network hash rate has reached new records, a sign of underlying strength. Institutional flows through ETFs remain steady, with billions in assets now tracking Bitcoin. Meanwhile, the macro backdrop is cautious but less hostile than in past Septembers, with the Federal Reserve signaling flexibility on rates rather than the tightening that once haunted markets. Conclusion September has long been a difficult month for Bitcoin, with a history of setbacks tied to regulatory shocks, macro tightening, and seasonal investor caution. Years such as 2014, 2017, 2019, 2021, and 2022 reinforced the idea of a “September curse,” while only recently did the market show signs of breaking the pattern. The gains of 2023 and 2024, supported by legal victories, ETF demand, and monetary easing, suggested that structure and sentiment can outweigh historical weakness. In 2025, Bitcoin begins the month near $110,000, with predictions placing it in a band between $108,000 and $125,000. Support around $100,000 and resistance near $112,000–$115,000 will likely guide the outcome. If those supports hold, September may again prove resilient, but if they fail, the old seasonal pattern could return. For now, investors remain cautious, knowing the curse may be fading but not yet gone. Follow Bitget X Now & Win 1 BTC – Don’t Miss Out! Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

A Compendium of Cryptocurrency Important Milestones

From a mysterious whitepaper to the trading floors of Wall Street, this is the definitive story of crypto's chaotic and revolutionary journey. 2000s - 2010: The First Decade Being the splendid epitome of innovation, cryptocurrencies have become the fastest-growing and the best-performing asset class of the decade. Let’s look back at the history of the booming crypto market and take a moment to appreciate how far we’ve come. The 2000s: The Inception of Bitcoin Even though some may think that the pseudonymous Satoshi Nakamoto laid the groundwork for the development of crypto, he was indeed inspired by the concept of public key cryptography, first introduced to the public by two Stanford scholars in 1976, and electronic money, which was first explored by the American cryptographer David Chaum in the 1980s. The 1990s saw several attempts at building an anonymous, competent digital cash system; all of them have undoubtedly helped shape the future of cryptocurrencies. However, prior to Bitcoin, there was another disruptor of the global financial system: the so-called “dot-com bubble”. The Internet we’re now so familiar with was once a life-changing innovation that, when piled up with excessive speculation in the housing market in the U.S. and other financial instabilities across the world, had triggered the Great Financial Crisis in 2008. Bitcoin came into existence the same year, trying to untangle the problem while pursuing freedom in any way imaginable. 2008 - 2009: Bitcoin Network Nakamoto purchased the domain Bitcoin.org and published the Bitcoin whitepaper there in 2008. This paper describes the Proof-of-Work (PoW) consensus application for the Bitcoin Network, a “peer-to-peer electronic cash system” with a limited supply (21 million) of its tokens. The genesis block was mined in 2009, releasing 50 Bitcoin into circulation. A message encrypted in the genesis block referred to the 2008 financial crisis and how governments rescued banks. Nakamoto was also the first to conduct a Bitcoin transaction on the 12th of January, 2009. Bitcoin white paper. Source: bitcoin.org One thing that stood in the way of Bitcoin enthusiasts this year was Bitcoin mining difficulty, which materialised into the amount of computer power and energy consumed. Bitcoin mining requires specialised hardware machines with exceptionally strong GPUs; it is this inherent characteristic of PoW that keeps the network secure and fair, but also makes Bitcoin the object of environmental criticism. 2010: Bitcoin Pizza Day One key event for Bitcoin - and maybe for the whole crypto market as well - occurred on May 22, 2010, when a guy in Florida paid 10,000 BTC for his two Papa John’s pizzas. That was the first Bitcoin commercial transaction, despite the fact that the first two exchanges, BitcoinMarket.com and Mt.Gox, were established, allowing for the first Bitcoin public trade at US$0.03/BTC earlier this year. Mysteriously, Satoshi Nakamoto disappeared around December 2010. Throughout the years, several have claimed to be Nakamoto, but his or their true identity has never been revealed. 2011-2014: The First of Everything Else You might very well think of this period as the crypto space’s stepping stone, where new concepts were developed and refined gradually. 2011: The First Altcoins As Bitcoin started to capture public attention, others created their own tokens as the alternative of Bitcoin - now generally known as “altcoins”. Two first altcoins officially acknowledged were Namecoin (NMC) by Vincent Durham and Litecoin (LTC) by Charlie Lee, both forked from the Bitcoin source code and still active today. Litecoin is currently the 25th largest cryptocurrency by market capitalisation. The oldest crypto wallets are software wallets named BitPay and Electrum. As of today, Electrum remains Bitcoin-only, whereas BitPay has expanded their services over the years to support other cryptocurrencies. 2011 also marked a new milestone in Bitcoin price growth as it reached parity with the US-Dollar (USD), Euro (EUR) and the British Pound Sterling (GBP), one after the other. That might be the reason behind WikiLeaks’ decision to accept donations in Bitcoin. 2012: BTC First Halving In addition to Bitcoin’s finite supply, the design of Bitcoin consolidates the theory of scarcity with one pre-programmed feature: Bitcoin Halving, which is set to take place roughly every four years. The block emission was reduced from 50 BTC per block to 25 BTC per block, contributing to the 100x increase in BTC price from US$12 in November, 2012 to US$1,217 one year later. Bitcoin slowly gained traction, leading to the establishment of the Bitcoin Foundation. A record of 1,000 merchants began to accept BTC payment via BitPay. Coinbase had successfully raised US$600,000 for formation. Founded by Mihai Alisie and Vitalik Buterin, Bitcoin Magazine published its first issue in the same year. Regarding sovereign adoption, Estonia was the first economy to use blockchain technology for their digital IDs project. 2013: The First ICO 2013 was a remarkable year where Bitcoin surpassed the US$1,000 mark and Reddit accepted BTC for gold membership. Darknet market Silk Road experienced a shut-down with 26,000 BTC confiscated by the FBI. In October, the first Bitcoin ATMs were installed in Vancouver, Canada, converting Bitcoin into cash and vice-versa. Most significant was the new type of crowdfunding known as Initial Coin Offering (ICO), prompted by the successful fundraising of Mastercoin (OMNI). The project received 4,740 (around US$500,000) Bitcoin, mostly from members of the bitcointalk.org forum, to develop their platform. Little did Mastercoin’s founders know that their idea had set the trend for multiple blockchain projects in the following years, and to some extent - paved the way for the emergence of Ethereum two years later. 2014: The First NFT and Stablecoins The start of 2014 was quite gloomy as Mt.Gox, the original Bitcoin exchange that covered 70% of the world's transactions, was hacked and filed for bankruptcy. 850,000 Bitcoin (US$460 million at the time) stayed unaccounted due to this event, bringing the needed awakening for unwary crypto adopters. That caused a 50% drop in Bitcoin price; people started to shift their focus to other blockchain applications: NFT, stablecoin, privacy coin and hardware wallet: ● January 2014: DASH (originally XCoin), the first privacy coin, i.e. a coin designed to obscure the transaction flow, was created as a fork of Bitcoin; ● May 2014: “Quantum”, the first NFT ever, was minted by the digital artist Kevin McCoy on the Namecoin blockchain; ● July 2014: bitUSD, a token issued on the BitShares blockchain, defines the term stablecoin by pegging its value to the market value of local currencies such as the US-Dollar. Another invention announced the same month was the first hardware wallet for crypto by Trezor, with Ledger quickly following the path. Ethereum concluded the month with 31,591 Bitcoin raised after 42 days; ● September 2014: NuBits was the second stablecoin to be created. This month also saw the first over-the-counter (OTC) Bitcoin swap approved by the U.S. Commodity Futures Trading Commission (CFTC); ● November 2014: Tether came up with the first 100% real-asset backed stablecoin, USDT. Undeterred by the market confusion, many listed companies still announced the new Bitcoin payment option, including Stripe, Paypal, Dell, Microsoft, etc. 2015-2018: The Rise of Cryptocurrencies Numerous teams bootstrapped the development of their cryptocurrency projects through ICOs, aiming to become the successor of Ethereum. 2015: The Origin of Ethereum Ethereum’s first mainnet - Frontier - went live in 2015. That is approximately two years after Vitalik Buterin and his team proposed their whitepaper. Subsequently, they put forward the proposal for the ERC-20 token standard, which is absolutely critical for the birth of smart contracts and more diverse blockchain applications. Ethereum’s price swayed under US$1, but investors all agreed on the limitless potential of the project. Source: Coin Gabbar on X This was in general a positive year for cryptocurrencies since Coinbase became the first regulated crypto exchange in the U.S. and another U.S.-based exchange, Gemini, was launched. Bitcoin was featured on The Economist’s cover, referred to as “The Trust Machine”, and continued to be Stripe’s main focus as the payment startup started the BTC payment integration for merchants. Source: Economist Furthermore, financial institutions’ interest in blockchain technology grew substantially: J.P.Morgan, Goldman Sachs and Bank of America made a pact to create the blockchain framework across the banking industry, while NASDAQ conducted the first blockchain trial. 2016: The DAO Hack Homestead went live as Ethereum’s second mainnet. A new form of trustless organisation was established on the Ethereum blockchain thanks to the invention of smart contracts. The project name, Decentralised Autonomous Organisation (The DAO), is now used to describe all community-led entities built on blockchain. The hype surrounding this revolutionary project lies in its unique design of equal authority distribution and the fact that it was the first high-profile project on the Ethereum network, having raised US$150 million in Ethereum at the time. However, before it truly took off, a hacker managed to exploit vulnerabilities in its code, stealing 3.6 million ETH from The DAO’s fund. The Ethereum community as a whole took a big hit because 14% of the circulating Ethereum was stored in The DAO’s smart contracts when the attack occurred. Several questions concerning the security and even the viability of the one-year-old network arose, urging miners, exchanges and node operators to implement the Ethereum hard fork at block 192,000. Bitcoin underwent the Second Halving, which reduced the amount of BTC produced per block from 25 to 12.5. It was not the sole reason behind Bitcoin’s record-breaking price in 2017, but definitely was one major driver. Chicago Mercantile Exchange (CME), the world’s leading derivatives marketplace, launched the BTC Price Index - signalling intensified institutional awareness and presence in the market. 2017: The Year of ICOs Many would call 2017 the highlight in the history of cryptocurrencies. A total of 435 ICOs had taken place, raising a whopping US$5.6 billion. The most famous ICO was Filecoin, which was also the first to be SEC-compliant with the legally binding SAFT (Simple Agreement for Future Tokens). Binance was founded by Changpeng Zhao in mid-2017 and received US$15 million in an ICO the same year, but China went against the current with its ICO ban in September. DeFi sector (Decentralised Finance) started to emerge with the launch of the main crypto-collateralised stablecoin DAI. The total value locked (TVL) of DeFi hit US$1 million for the first time. The first NFT Game - CryptoKitties - went viral, pushing Ethereum’s transaction capacity to its limit. Meanwhile, Japan officially recognised Bitcoin as a currency in 2017, providing the most progressive regulatory climate for the market. The first bank to sell Bitcoin directly to its customers is the Switzerland-based private bank Falcon. CME and CBOE (Chicago Board Options Exchange) announced their Bitcoin Futures, meaning big players in the traditional capital markets had joined the game. 2018: The First Bitcoin’s All-Time High A few days into the new year, Bitcoin price set its new all-time high at US$19,700. Other cryptocurrencies greatly benefited from this achievement. The total market cap of all cryptocurrencies broke the record at US$820 billion, with VCs’ investments in the market hitting US$1 billion. Bitget was founded in 2018, preparing for the employment of social trading in crypto. Fidelity launched its crypto institutional platform, and the Swiss authorities added BTC to their tax payment options. Other regulatory bodies started to support the use of blockchain: the European Union committed US$300 million for blockchain project development and the South Korean government US$9 million. 2019 - Present: Becoming an Integral Part of the Global Economy Countless criticisms later, the crypto market has proven it's here to stay. Finally recognized as a new asset class worldwide, cryptocurrencies are becoming integral to the global financial system. Obviously, much more work remains to be done, but the whole journey has been impactful and completely astounding! 2019: Scalin’ Time! This is the year when the number of all Bitcoin transactions amounted to 400 million, and the number of daily Ethereum transactions exceeded 1 million. Facebook, one of the world’s largest companies in valuation, introduced their digital currency plan, whilst the giant J.P.Morgan launched the first bank-backed token in the U.S., JPM Coin. One disturbing theme of the year was security. Seven crypto exchanges were hacked, including Binance and BitHumb. The value of compromised funds added up to nearly US$160 million, amplifying the trust issues raised by OneCoin’s ponzi scheme. Intercontinental Exchange’s Bakkt platform debuts physically-settled Bitcoin futures on September 23, offering institutions a new way to trade BTC. Initial uptake was slow, but it laid groundwork for regulated crypto derivatives. Also related to the theme of regulation is China’s endorsement for blockchain development and the digital yuan, even when crypto trading remained banned. 2020: DeFi Summer and Black Thursday Compound's yield farming kickstarted a DeFi boom in mid-2020, with protocols like Yearn, Uniswap, and SushiSwap driving Total Value Locked from under $1B to over $10B by year-end. High yields and new governance tokens spurred a frenzy, albeit with smart contract risks. The Ethereum Beacon Chain (Phase 0 of Ethereum 2.0 a.k.a. Ethereum PoS) launched on December 1, introducing proof-of-stake to Ethereum. Over 524,000 ETH were staked to activate the upgrade, beginning Ethereum's multi-year transition from PoW, slightly later than early projections. Meanwhile, the Black Thursday crash in March 2020 underscored crypto's resilience. Amid COVID-19 panic, Bitcoin plunged by 50% on March 12, with ETH similarly crashing and liquidating billions in positions. This extreme volatility (dubbed Black Thursday) shocked markets but was followed by a swift recovery that never looked back to the $5,330 level. Institutions began flocking to Bitcoin for the "digital gold" narrative, with MicroStrategy becoming the first corporation to hold a BTC treasury of 21,454 BTC at that time. 2021: The NFT Mania In February 2021, Tesla followed suit by disclosing a $1.5 billion Bitcoin purchase and announcing plans to accept BTC payments, validating crypto as a corporate treasury asset. Then, Coinbase (COIN) went public via direct listing on NASDAQ at an $86 billion valuation as the first major crypto exchange to have an IPO. These were definitely the main drivers behind Bitcoin's new ATH at $64,863 in April. The main theme of the year was NFTs, with an NFT artwork by digital artist Beeple selling for $69.3 million at Christie's. This marked the beginning of NFTs' explosion into the mainstream, alongside big names like CryptoPunks and Bored Apes. On a side note, the world saw the biggest bet of all time as El Salvador passed a law to adopt Bitcoin as legal tender—the first Bitcoin adoption at the nation-state level ever. Bored Ape Yacht Club historical best sales on OpenSea. Source: OpenSea In November 2021, Bitcoin peaked once more at $68,790 and Ethereum at $4,892. Both contributed to the new ATH of the total crypto market cap, which surpassed the $3T mark for the first time in history and marked the peak of the 2020-21 bull cycle. 2022: THE Crypto Crash In March 2022, a group of hackers named Lazarus Group exploited the Ronin Network (Axie Infinity's sidechain) and stole approximately $625 million in ETH/USDC. This theft—one of the largest in crypto history—rattled the GameFi sector and prompted deeper scrutiny of bridge security. Then in May, Terra (LUNA) collapsed from a $16 billion market cap as its algorithmic stablecoin TerraUSD depegged and crashed into cents, wiping out the LUNA (now LUNC) token's value. This collapse vaporized approximately $40-50 billion in market value and triggered a broader crypto credit crisis. Both events shook CeFi to its core, causing sector contagion in June, July, and August 2022. Major crypto lenders and funds filed for bankruptcy, from Celsius and Three Arrows Capital to Voyager. Taking the biggest hit was FTX. The exchange's collapse was triggered by a liquidity crisis after reports revealed its close ties to Alameda Research, which had been seriously affected by the bloodbath in H1 2022. When customers rushed to withdraw funds, FTX couldn't cover demands because it had secretly lent billions in user deposits to Alameda for speculative bets. The exchange quickly collapsed, leading to bankruptcy, regulatory scrutiny, and the arrest of CEO Sam Bankman-Fried for fraud. Amid this turmoil, many overlooked that the Ethereum Merge took place, where the chain finally switched to Proof-of-Stake consensus. Ethereum's energy usage was reduced by 99.9% consequently, and Ethereum's roadmap then turned to scaling. Ethereum consensus has changed into PoS since 2022. Source: Ethereum Energy Consumption 2023: More Regulatory Clarity March 2023 brought banking turmoil and a depeg: Silvergate Bank and Signature Bank (crypto-friendly U.S. banks) collapsed amid wider bank failures. Circle's USDC stablecoin briefly depegged to $0.88 when $3.3B of its reserves were stuck in Silicon Valley Bank, though it recovered after U.S. regulators backstopped SVB. The EU Parliament approved MiCA (Markets in Crypto-Assets regulation) on April 20, establishing a landmark regulatory framework across EU states. MiCA set licensing, reserve, and disclosure standards—the first such comprehensive regime globally. Its stablecoin rules took effect in June 2024, with wider provisions following in December 2024. In the U.S., it was all about legal disputes. The SEC charged Binance (June 5) and Coinbase (June 6) with operating unregistered exchanges and offering unregistered securities, but suffered defeats against Grayscale and Ripple. On August 29, the D.C. Circuit Court vacated the SEC's rejection of Grayscale's spot Bitcoin ETF application, calling the denial "arbitrary and capricious." This legal victory raised confidence that a U.S. spot Bitcoin ETF would finally be approved—a dramatic reversal after years of SEC refusals. Indeed, the ruling set the stage for imminent approvals in 2024. One month earlier, a federal judge ruled that XRP sales on public exchanges were not securities, which was a partial win for Ripple. 2024: Spot Bitcoin ETFs on Wall Street + Bitcoin Halving = $100K In a landmark shift, the SEC on January 10 approved the listing of 13 spot Bitcoin ETFs (after a court loss and years of industry lobbying). Firms like BlackRock and Fidelity launched ETFs, finally giving U.S. investors direct Bitcoin funds right in the first few days of the year. In the first few days of H2, the first U.S. spot Ether ETFs made their debut quite unexpectedly, signaling a more muted investor reception than Bitcoin. While March 2024 was Ethereum's show time with its Dencun upgrade to reduce L2 fees, all eyes were on April with the 4th Bitcoin halving at block #840,000. Bitcoin's block reward fell from 6.25 to 3.125 BTC, again showcasing Bitcoin's programmed scarcity. The EU's MiCA regulation kicked in for stablecoin issuers on June 30, 2024, with full scope for exchanges and other crypto services by January 2025. By the end of 2024, MiCA's regulations became fully applicable across the EU, covering all crypto asset service providers. Industry observers noted increased compliance costs but also greater institutional confidence in EU markets. In November 2024, Trump won the U.S. Election and brought the promise of "making crypto great again" to the White House, giving crypto early adopters high hopes for the industry's price growth. Bitcoin reached its 6-figure ATH for the first time in December. 2025 (Through August): BTC $124K Facing tepid uptake of its PayPal USD (PYUSD) stablecoin, PayPal announced a 3.7% yield incentive for holders in April 2025, when PYUSD's circulation was about $868 million. Then, in the wake of U.S. elections and agency changes, the SEC not only withdrew its lawsuits against major exchanges Binance, Coinbase, and Kraken, but also its appeal against Ripple. This reversal suggested a more industry-friendly approach, validating speculation that a political shift could soften crypto regulation. In July, the U.S. Congress passed the GENIUS Act, the first U.S. federal framework for payment of stablecoins. Major banks and large retailers/tech firms signaled plans to issue or partner on USD stablecoins. Around the same time, Bitcoin suddenly hit $123,092 on July 14, before reaching a new all-time high of $124,000 on August 14. Bitcoin has flipped Alphabet (Google) to be the 5th largest asset by market cap (as of August 14, 2025). Source: Companies Market Cap Conclusion From Bitcoin's humble beginnings during the 2008 financial crisis to reaching $124,496 in 2025, the cryptocurrency ecosystem has evolved from an experimental digital currency into a legitimate asset class that commands respect from institutions, governments, and retail investors alike. The journey has been marked by spectacular highs and devastating crashes, regulatory uncertainty and landmark approvals, as well as technological breakthroughs and security failures. What stands out most remarkably is crypto's resilience. Each crisis, from Mt. Gox to FTX, initially appeared to threaten the entire ecosystem, yet the market consistently emerged stronger and more mature. The infrastructure has become more robust, prompting clearer regulations, both of which have encouraged broader institutional participation. Bitcoin ETFs on Wall Street, El Salvador's legal tender adoption, and comprehensive regulatory frameworks like MiCA demonstrate that cryptocurrencies have transcended their early reputation as speculative instruments for tech enthusiasts. Looking ahead, the foundation has been laid for even greater integration into the global financial system. With major corporations holding Bitcoin on their balance sheets, traditional banks offering crypto services, and governments developing digital currencies, the question is no longer whether cryptocurrencies will survive, but how they will continue to reshape finance, technology, and society in the decades to come. The first decade was about proving viability; the next will be about defining the future of money itself. Create an account on Bitget to trade BTC, ETH, and other cryptos today! Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Yeezy Money (YZY): Kanye West's Crypto-Powered Brand Payment System

Yeezy Money is a new financial ecosystem that integrates cryptocurrency technology to facilitate global transactions for Yeezy products and services. Founded by Kanye West in August 2025, this Solana-based platform aims to bypass traditional payment processors while giving fans worldwide better access to Yeezy merchandise. YZY is now available on Bitget! What is Yeezy Money (YZY)? Yeezy Money is a crypto-powered payment ecosystem described as "a concept for a new financial system, built on crypto rails." The platform integrates cryptocurrency technology to facilitate global transactions for Yeezy products and services, addressing issues in global payments for the Yeezy brand. The platform is centered around the YZY token, a Solana-based cryptocurrency, featuring tools like Ye Pay (a payment processor) and YZY Card (for spending digital assets worldwide). This ecosystem enables fans to purchase Yeezy merchandise using crypto while providing seamless integration between traditional and digital payments. Core Innovation: Yeezy Money solves several critical problems including high international payment fees for buying Yeezy merchandise, limited global reach for Yeezy products due to payment barriers, and security issues in token trading through innovative anti-sniping features and transparent vesting mechanisms. Who Created Yeezy Money (YZY)? Yeezy Money was founded by Kanye West (legally known as Ye), the American rapper, producer, fashion designer, and entrepreneur who launched the Yeezy brand in 2013. Kanye West (Founder & Visionary): ● One of the most influential figures in music, fashion, and culture ● Transformed his creative brand into a multi-billion dollar business through disruptive design and marketing strategies ● Previously partnered with Nike, Adidas, and Gap ● Retains ownership and core creative control over Yeezy ventures, including the crypto and payment initiative Dov Charney (CEO): ● Founder and ex-CEO of American Apparel and current CEO of Los Angeles Apparel ● Known for unconventional business style and pioneering "Made in America" basics ● Reportedly became CEO of Yeezy post-Adidas era, working closely with Kanye West on brand relaunches and expansion ● Experienced in both innovative and controversial leadership in the apparel industry Key Team Members: ● Matt George: Strategic advisor, CEO for Yeezy Apparel Division, streetwear entrepreneur and co-owner of Stüssy Canada ● Steven Smith: Lead designer, renowned footwear designer with legacy at New Balance, Adidas, and Reebok What VCs Back Yeezy Money (YZY)? Yeezy Money appears to be founder-funded rather than backed by traditional venture capital firms. There is no public evidence of outside investors or VC backing for the crypto platform. Funding Structure: ● Self-funded: Ye reportedly retains a 70% stake in the YZY token and has not listed venture capital partners or outside investment ● No reported funding rounds: There are no public records of seed, Series A/B/C, or other institutional rounds for Yeezy Money ● Brand-driven launch: Funding primarily comes from Ye's existing Yeezy brand revenues and personal fortune The project represents a direct-to-consumer approach where Kanye West maintains full control over the platform and token ecosystem without diluting ownership through external investment. How Yeezy Money (YZY) Works Yeezy Money creates a seamless crypto-powered payment ecosystem that connects the Yeezy brand with blockchain technology for global transactions. YZY Token Payment System The platform operates around the YZY token, which users can acquire on crypto exchanges and use to purchase Yeezy merchandise, access exclusive drops, and participate in the brand ecosystem. The token serves as the official digital currency for Yeezy transactions. Ye Pay Payment Processor Ye Pay supports both YZY tokens and stablecoins plus credit cards, offering lower fees and seamless checkout experiences. This system reduces merchant fees and makes international purchases more affordable for global customers. YZY Card Global Spending The YZY Card enables users to spend crypto balances anywhere worldwide, giving the platform true utility beyond just Yeezy purchases. Users can spend YZY and other cryptocurrencies for everyday transactions. Anti-Sniping Security The platform employs innovative contract selection mechanisms to prevent market manipulation and protect genuine traders from bot attacks and whale manipulation during trading. Transparent Vesting System YZY uses Jupiter Lock for vesting, ensuring controlled and staged release of token supply between the brand, liquidity pools, and the public market, promoting long-term stability. Yeezy Money Token (YZY) and Economics The YZY token serves as the native cryptocurrency and official digital currency for the entire Yeezy Money ecosystem. Token Details ● Token Name: YZY (Yeezy Coin) ● Token Symbol: YZY ● Total Supply: 999.6 million YZY tokens (fixed maximum supply) ● Blockchain Deployment: Solana (chosen for high speed and low transaction fees) ● Contract Address: 4NBTf8PfLH4oLFnwf3knv46FY9i5oXjDxffCetXRpump Token Distribution ● Ye/Founder: 70% (allocated to Ye/Yeezy Investments LLC, with vesting schedule using Jupiter Lock for staged release over 24 months) ● Public/Investors: 20% (community sales, airdrops, partnerships) ● Liquidity Pools: 10% (market liquidity on exchanges like Meteora) Token Utilities ● Official Yeezy Currency: Primary payment method for Yeezy merchandise including shoes, apparel, and accessories ● Exclusive Access: Holding YZY may unlock access to exclusive product launches, limited editions, and private events ● Global Payments: Enables fast, low-fee transactions worldwide through the Solana blockchain ● YZY Card Integration: Spend YZY and other supported crypto through the payment card system ● Trading & Speculation: Tradable on decentralized exchanges and centralized platforms Vesting and Security The founder's 70% allocation uses transparent vesting schedules through Jupiter Lock smart contracts, distributing tokens in tranches over 24 months to prevent large sell-offs and maintain ecosystem stability. Why Yeezy Money? Traditional payment systems create barriers for global brand commerce, especially for high-demand products like Yeezy merchandise. Yeezy Money addresses these challenges with innovative solutions: Celebrity-Driven Adoption: Founded by one of the most influential figures in music and fashion, providing instant brand recognition and massive global fanbase for crypto adoption. Censorship-Resistant Payments: Built on blockchain technology to bypass traditional payment processors that previously banned Kanye West, ensuring direct brand-to-consumer transactions. Global Accessibility: Solana-based infrastructure enables fast, low-cost transactions worldwide, making Yeezy products accessible to international fans without high fees. Real Commercial Utility: Unlike typical meme coins, YZY has direct use cases for purchasing exclusive merchandise and accessing brand experiences, creating genuine utility beyond speculation. Strategic Partnerships: Collaboration with Binance for token launch infrastructure and integration with Solana ecosystem partners like Meteora and Jupiter Lock. Transparent Tokenomics: Clear vesting schedules and token distribution create trust and stability, while anti-sniping mechanisms protect users from market manipulation. The platform successfully bridges celebrity culture with cryptocurrency innovation, creating new business models for brand engagement while providing fans with digital ownership and exclusive access to the Yeezy universe. YZY Goes Live on Bitget We are thrilled to announce that YZY is listed in the Innovation and Meme Zone. Check out the details below: Trading Available: 21 Aug 2025, 03:12 AM (UTC) Withdrawal Available: 22 Aug 2025, 04:00 AM (UTC) Trade YZY/USDT on Bitget! Community Links: Website | Twitter | Instagram | Telegram | TikTok Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

You Can Now Buy Bitcoin in Your 401(k): Here's What You Need to Know

President Trump just made cryptocurrency legal in retirement accounts. Here's how it affects your money. The rules just changed. On August 7, 2025, President Trump signed an executive order allowing Americans to invest their 401(k) money in cryptocurrency for the first time. This opens up the $9 trillion retirement market to Bitcoin, Ethereum, and other digital assets. If you have a 401(k), this could change how you build wealth for retirement. But before you get excited, there's a lot you need to understand about costs, risks, and what's actually available right now. What Actually Changed The Department of Labor removed restrictions that basically banned crypto from retirement plans. For years, government guidance scared employers away from offering crypto options. That guidance is gone. Now it's up to your employer and 401(k) provider to decide if they want to offer crypto investments. The government won't stop them, but they're not required to add these options either. The reality? Most plans still don't offer crypto, but that's starting to change. What You Can Actually Buy Right Now Here's what's available in the real world: Fidelity Plans - If your employer uses Fidelity, you might have access to their Digital Assets Account. This lets you put up to 20% of your 401(k) into Bitcoin directly. But your employer sets the actual limit - many cap it at 5-10%. Other Major Providers ● Vanguard: No crypto options (and they've said they won't add them) ● Charles Schwab: Limited crypto through brokerage windows only ● Principal, TIAA, Empower: Mostly no direct crypto options yet What Coins Are Available Almost everything focuses on Bitcoin and Ethereum. Other cryptocurrencies are rare because: ● They're more volatile ● Less regulatory clarity ● Harder for employers to justify to employees Self-Directed Options Some plans offer "brokerage windows" where you can buy crypto ETFs. This requires more paperwork and education modules, but gives you broader access. The Real Costs (This Matters) Crypto in your 401(k) costs more than regular investments. A lot more. Fee Comparison: ● S&P 500 index fund: 0.03-0.20% per year ● Crypto investment: 0.75-1.0% per year ● Plus custody fees: Sometimes another 0.5-1.0% What This Means in Dollars On a $50,000 account balance: ● Index fund costs: $15-100 per year ● Crypto investment: $375-500+ per year Over 30 years, this fee difference could cost you tens of thousands of dollars. The question is whether crypto's potential returns justify these higher costs. How Much Should You Actually Invest Financial advisors who support crypto in retirement accounts recommend small allocations: Conservative Approach: 1-2% Good for people nervous about volatility or close to retirement. Moderate Approach: 5-10% For younger workers who want meaningful crypto exposure but still prioritize traditional investments. What Experts Say - Most financial planners suggest treating crypto like a "satellite" investment - a small part of your portfolio that could boost returns but won't sink your retirement if it goes to zero. Age Considerations ● 20s-30s: Can handle more crypto allocation (5-10%) ● 40s-50s: Keep it smaller (2-5%) ● Near retirement: Many experts say avoid it entirely The Volatility Reality Check Source - curvo.eu Bitcoin is roughly 5 times more volatile than the stock market. Here's what that actually means: Bitcoin vs S&P 500 (Recent Performance) ● Bitcoin annual volatility: 35-40% ● S&P 500 annual volatility: 8% Real-World Example - In 2021, Bitcoin went from $29,000 to $69,000, then crashed to $15,500 by 2022. That's a 75% loss from the peak. If you had $10,000 in Bitcoin at the peak, it would have been worth $2,500 at the bottom. Can your retirement handle that kind of swing? The Upside - Bitcoin has also produced massive gains over longer periods. Someone who bought $1,000 of Bitcoin in 2015 would have over $150,000 today (despite the crashes along the way). Who's Actually Doing This Age Groups ● Millennials and Gen Z: 49% already own crypto outside retirement accounts ● People over 50: About 30% have considered crypto for retirement Income Levels Higher earners dominate crypto investing. Nearly half of crypto investors make $100,000+ per year. Current Adoption Less than 1% of 401(k) plans offer crypto right now, but industry experts predict this will grow steadily over the next few years. How to Actually Get Started Step 1: Check Your Plan Log into your 401(k) account and look for: ● "Digital Assets" or "Cryptocurrency" options ● "Self-directed brokerage" or "brokerage window" ● Contact your HR department if you're not sure Step 2: Complete Required Education Most plans require you to: ● Watch educational videos about crypto risks ● Complete a risk assessment questionnaire ● Acknowledge you understand the volatility Step 3: Start Small Even if you want significant crypto exposure, consider starting with 1-2% to see how you handle the volatility psychologically. Step 4: Set Up Automatic Investing Just like with regular 401(k) investments, you can usually set a percentage of each paycheck to go toward crypto automatically. What Could Go Wrong Employer Changes Mind - Your company could decide to remove crypto options if they get spooked by volatility or legal concerns. Regulatory Reversal - A future administration could restrict crypto in retirement accounts again. Provider Issues - Custody and security for crypto is more complex than stocks. Technical problems or hacks could affect your investments. Your Own Psychology - Watching your retirement account swing wildly with crypto prices can be stressful. Make sure you can handle it emotionally. Bottom Line: Should You Do This? Consider crypto in your 401(k) if: ● You already understand and own cryptocurrency ● You're young with decades until retirement ● You can afford to lose 5-10% of your portfolio ● Your plan offers low-cost options Skip it if: ● You're new to crypto (learn with smaller amounts first) ● You're within 10 years of retirement ● You can't handle major portfolio swings ● The fees in your plan are extremely high The Middle Ground - Many financial advisors suggest getting crypto exposure through a regular investment account first. This lets you learn how you react to the volatility before committing retirement money. What's Next More 401(k) providers will likely add crypto options over the next few years. If your plan doesn't offer it now, it might soon. Keep an eye on: ● Your plan's annual enrollment materials ● Communications from your employer about new investment options ● Fee improvements as competition increases The crypto retirement revolution is just beginning. Whether you participate depends on your risk tolerance, age, and belief in digital assets' long-term potential. The opportunity is there. The choice is yours. Want to learn more about cryptocurrency before adding it to your retirement? Start with Bitcoin and Ethereum education on Bitget. This article is for educational purposes only. Cryptocurrency investments involve significant risks. Always consult with financial professionals before making retirement investment decisions.

Ethena USDe: How It Became the World’s #3 Stablecoin

Imagine earning double-digit interest on a dollar without touching a bank—welcome to Ethena USDe. In just a few weeks mid-2025, USDe’s supply exploded by nearly 70%, vaulting it to the #3 spot among all stablecoins with about $9.5 billion in circulation. Instead of sitting on fiat reserves, USDe is a synthetic dollar: it’s backed by crypto collateral and hedged derivatives, and it even pays you yield when you stake it. In this article, we’ll explain what USDe is, how it works, the latest developments around it, and discuss its safety and risks in comparison to past stablecoin experiments. What Is Ethena USDe? Launched in March 2024 by the Ethena Labs, USDe is a crypto-native, synthetic U.S. dollar designed to stay pegged to $1 without fiat reserves. Each USDe token is backed by a diversified basket of on-chain assets (ETH, BTC, liquid-staking tokens) and an equal—and opposite—short position in perpetual futures markets. This delta-neutral hedge means that if the collateral’s price moves up or down, gains and losses on the futures side offset each other, keeping USDe firmly at one dollar. Real-time on-chain dashboards let anyone verify exactly how much collateral and how many short contracts back each token, ensuring full transparency. Beyond simply holding a stable dollar, USDe offers yield through its two-token system. You can stake USDe to mint sUSDe, which accrues protocol revenues over time—primarily funding rates from the futures positions, staking rewards on liquid ETH, and yield on any stablecoin reserves. When you unstake, you redeem more USDe than you originally deposited, reflecting the organic interest your sUSDe earned. This setup transforms a dollar-pegged asset into a yield-bearing instrument—all managed on-chain, with no reliance on traditional banks. How Ethena USDe Works ● Delta-Neutral Hedging: When you mint USDe (e.g., deposit $1,000 worth of ETH), Ethena locks that ETH as collateral and opens a matching $1,000 short position in ETH perpetual futures. If ETH’s price moves up, the collateral gains value while the short position loses the same amount; if ETH falls, the futures profit offsets the collateral loss—keeping USDe pegged to $1. ● Diversified Collateral Basket: Ethena accepts a mix of assets such as ETH, BTC, liquid-staking tokens like stETH, and even holds a portion in stablecoins (USDC/USDT) as a cash buffer. This diversification cushions the protocol during negative funding-rate environments and ensures there’s always a reserve to support the peg. ● Market-Driven Stabilization: When USDe’s market price drifts above or below $1, arbitrageurs can mint or redeem tokens to capture the spread, pushing the price back toward the peg. Automated on-chain monitoring and rebalancing keep hedge sizes and collateral ratios within safe bounds. ● sUSDe Yield Engine: By staking USDe, you receive sUSDe, which represents your share of the protocol’s revenue from futures funding fees, ETH staking rewards, and stablecoin yields. Over time, each sUSDe redeems for more USDe than you staked, turning your stablecoin into a yield-bearing dollar. What’s Driving USDe’s Growth Source: Anthony Yim Since mid-2025, Ethena USDe’s ascent has been nothing short of meteoric. In July, the U.S. passed the GENIUS Act, which—for the first time—banned stablecoin issuers from offering yield to retail customers. Ironically, that regulation sparked a flood of liquidity into yield-bearing alternatives like USDe, driving its circulating supply up nearly 70% in just a few weeks and vaulting its market cap to about $9.5 billion, comfortably securing the #3 spot behind USDT and USDC. At the same time, USDe’s governance token, ENA, rallied over 60%—a clear signal that traders saw this moment as a major inflection point for yield-pegged dollars. Meanwhile, Ethena Labs has doubled down on both growth and compliance. In late July, they teamed up with Anchorage Digital to launch USDtb, a U.S.-regulated variant of USDe backed by tokenized money-market funds (rather than purely crypto futures) – making it fully compliant with the new law and targeting institutional investors. On the DeFi front, USDe is now live on more than 24 blockchains and counts over 750,000 unique users, with integrations into heavyweights like Aave (including a “Liquid Leverage” feature pairing USDe/sUSDe) and Curve. Plus, its bridge into the TON ecosystem means fast, low-fee transfers for Telegram’s massive user base. Is Ethena USDe Safe? Ethena’s delta-neutral setup mutes crypto price swings, but its yields hinge on perpetual‐swap funding rates—which can flip negative in a bear market and eat into the protocol’s insurance reserves. While Ethena holds collateral off-exchange and diversifies across ETH, BTC, liquid-staking tokens, and stablecoins, a sustained stretch of negative funding or a major exchange outage could pressure the peg or erode buffers. On the regulatory side, the U.S. GENIUS Act already banished retail yield-bearing stablecoins, prompting Ethena to spin off USDtb for institutions. Future rules on leverage, licensing, or consumer protection could further crimp USDe’s reach. And though USDe’s real-asset plus hedge model differs fundamentally from Terra UST’s algorithmic design, a “black swan” mix of negative funding, exchange failure, and a sudden redemption run remains a theoretical stress test. Ethena’s transparent reserves and risk controls are solid—but like any innovative DeFi product, USDe demands that users stay informed and only allocate what they can afford to lose. Conclusion Ethena USDe’s rapid climb to the world’s third-largest stablecoin showcases the power of blending traditional trading strategies with decentralized finance. By collateralizing each token with real crypto assets and hedging through derivatives, USDe maintains a rock-solid $1 peg without fiat reserves. Its two-token model: USDe for spending, sUSDe for staking—unlocks organic, on-chain yield that has drawn hundreds of thousands of users and billions in liquidity in under two years. That said, innovation carries new risks: funding-rate swings, exchange dependencies, and evolving regulations can all test the protocol’s resilience. Ethena’s transparent, diversified collateral approach and insurance reserves offer strong safeguards, but as with any pioneering DeFi product, users should stay informed and only allocate what they can afford to lose. If USDe continues to weather market storms and regulatory shifts, it may well redefine the future of dollar-pegged assets on-chain—proving that your dollar can both stay stable and work for you at the same time. Register now and explore the wonderful crypto world at Bitget! Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

China Bans Crypto? Get Ready for a Big Shift with Chinese Yuan Stablecoin

Rumors regularly circulate online about new and even stricter crypto bans in China. In August, speculation intensified, with some suggesting an outright prohibition on holding or trading cryptocurrencies could expand by 2025. However, no new crypto bans have been officially enacted by Chinese regulators as of August 2025. In fact, the reality is more nuanced, especially considering notable developments in Hong Kong, where discussion is growing around the introduction of a Chinese yuan (CNY/CNH)-pegged stablecoin under local regulations. This shift hints at a potential new era for digital assets associated with the renminbi, even as restrictions remain in the mainland. China’s Crypto Policy and Banning History The phrase “China bans crypto” has become a fixture in global headlines, driving volatility in the cryptocurrency market and impacting the bitcoin price each time new policies or rumors emerge. China’s approach to crypto regulation has been defined by several pivotal moves: 2013: The People’s Bank of China (PBOC) took its first major step, prohibiting financial institutions from processing Bitcoin transactions. This action was intended to safeguard consumer protection and overall financial stability. After the announcement, the bitcoin price dropped significantly—from around $1,150 to $500—underscoring the world’s growing focus on Chinese policy. 2017: China banned domestic cryptocurrency exchanges and Initial Coin Offerings (ICOs), citing financial risks and fraud prevention. This comprehensive crackdown triggered a sharp decline in the bitcoin price, with values falling from over $4,500 to under $3,000. The move drove many exchanges and projects to relocate abroad, but it marked the beginning of a long-term commitment to regulatory enforcement. 2019–2021: China shifted its focus to bitcoin mining, raising concerns over energy consumption and capital outflows. In 2021, the ban reached its peak: all cryptocurrency transactions and mining activities—including the use of overseas exchanges—were declared illegal. This landmark decision caused bitcoin price to plummet yet again: from approximately $52,000 in September 2021 to around $40,000 within weeks, reflecting the immense influence China’s decisions have on the market. 2025: In June, China has criminalized even personal cryptocurrency holdings. As of August 2025, the existing framework focuses on cracking down on trading, exchanges, mining and private ownership. China bans crypto policies that are being enforced at the level of institutional, commercial activities, and individual possession of bitcoin or other digital assets. Why Does China Ban Crypto? The rationale behind aggressive China bans crypto policies is fourfold: Financial StabilityCryptocurrencies—particularly speculative tokens like bitcoin—are seen as volatile, heightening the risk of financial bubbles and sudden market collapses. Chinese authorities worry that such volatility could undermine the nation’s financial stability, especially given the significant size of domestic crypto trading prior to enforcement. Capital ControlsWith only RMB 1.54 trillion in offshore yuan (compared to more than RMB 300 trillion M2 domestically), regulators fear that open cryptocurrency markets could facilitate massive, uncontrolled capital outflows. The bitcoin price is often viewed as a barometer of capital movement, exacerbating officials’ concerns about currency stability. Monetary SovereigntyOne of the core motivations behind China’s ongoing crypto regulation is to safeguard the central bank’s ability to control monetary policy. Decentralized cryptocurrencies could undermine the Chinese yuan’s (renminbi’s) role in the economy—especially before the country achieves full renminbi internationalization. Regulatory OversightAllowing a free-for-all crypto environment would weaken China’s ability to combat illicit financial activity, money laundering, and tax evasion, all legitimate regulatory concerns cited whenever China bans crypto. The Chinese Yuan Stablecoin: Hong Kong’s New Digital Finance Frontier While "China bans crypto" is the dominant narrative on the mainland, Hong Kong is emerging as a regional leader for regulated digital asset innovation—most notably, with the prospect of issuing a Chinese yuan stablecoin. In May 2025, Hong Kong passed the Stablecoin Ordinance Bill, establishing a robust licensing and regulatory system for fiat-backed stablecoin issuers. The Hong Kong Monetary Authority (HKMA) now presides over a sandbox environment where top players such as Standard Chartered Hong Kong, Animoca Brands, and JD Chain Technology test compliant stablecoin products. These regulations demand full 1:1 reserve backing in high-quality assets, strict anti-money laundering measures, and strong investor protections. Penalties for violations are severe, sent with a clear message that only highly qualified issuers—operating under transparent governance—can join the stablecoin market. This regulated environment paves the way for a Chinese yuan stablecoin (especially CNH, or offshore yuan) to enter global circulation. Policymakers and major banks envision this product as a digital bridge for cross-border trade, enabling settlement outside of traditional networks like SWIFT and CIPS. By strengthening the digital reach and global influence of the renminbi, the Chinese yuan stablecoin could support China’s broader efforts to internationalize its currency and boost its fintech sector. Industry leaders—including Hong Kong lawmaker Duncan Chiu—have called for flexible, innovative licensing, particularly for stablecoins pegged to the Hong Kong dollar and Chinese yuan. A compliant Chinese yuan stablecoin would cement Hong Kong’s reputation as a digital finance bridge between the mainland and the world, attracting talent and investment as the landscape evolves. Chinese Businesses Enter the Stablecoin Sector The emergence of clear regulation for stablecoins in Hong Kong has attracted major Chinese enterprises eager to capitalize on future demand. JD.com, through its fintech arm JD Chain Technology, is currently recruiting talent to specialize in stablecoin development and digital yuan integration. Ant Group and other top fintechs are also eyeing participation in this new sector. This flurry of activity coincides with global market movements, where discussions about stablecoin regulation and infrastructure have taken center stage not only in Asia but also in the U.S., enhancing the importance of a Chinese yuan stablecoin as part of international digital finance competition. Conclusion The keyword “China bans crypto” continues to dominate the global news cycle, sending shockwaves through markets and triggering notable swings in bitcoin price after each regulatory shift. Yet the situation remains far from black-and-white. While mainland policy tightly restricts crypto trading, mining, and institutional involvement, Hong Kong is blazing a trail for regulated innovation, with the highly anticipated Chinese yuan stablecoin at the center of attention.

Is It Possible to Mine Ethereum in 2025? Here’s the Truth

Is ETH mining dead? Can you still mine Ethereum in 2025? These are common questions for newcomers curious about earning crypto from home. The truth is, Ethereum mining as we knew it is no longer possible on the main Ethereum network. In late 2022, Ethereum made a historic switch to a Proof-of-Stake system, ending the era of traditional mining. But what does that mean for enthusiasts in 2025? Don’t worry – we’ll break it all down. In this article, we’ll introduce the basics of crypto mining, explain what Ethereum mining used to be (and why it changed), and explore the current state of things. We’ll also look at why people mined Ethereum, how one would have started mining (back when it was possible), and discuss profitability and legal questions as of 2025. By the end, you’ll understand the history and evolution of Ethereum mining – and what Ethereum’s proof-of-stake means for you today. Introduction to Crypto Mining Cryptocurrency mining is the process that secures and validates transactions on certain blockchains (networks like Bitcoin) by using computing power. In a Proof-of-Work (PoW) system, “miners” use powerful computers to solve complex mathematical puzzles. Think of it like a race: computers compete to solve a puzzle, and the first one to find the solution gets to add the next “block” of transactions to the blockchain ledger. For doing this work, the miner is rewarded with newly minted coins and transaction fees. This process serves two main purposes: it confirms transactions (keeping the network running smoothly and securely) and it creates new coins in circulation. Mining is essentially the backbone of PoW cryptocurrencies. However, it requires a lot of electricity and hardware power. For example, Bitcoin mining today is done with specialized machines and consumes huge amounts of energy worldwide. What Is Ethereum Mining? Ethereum mining refers to the old process by which Ethereum blocks were verified and added to the Ethereum blockchain before 2022. Like Bitcoin, Ethereum originally relied on Proof-of-Work. Miners would use their computer hardware – often graphic cards (GPUs) – to compete in solving cryptographic puzzles. Each time a miner succeeded, they would create a new block of Ethereum transactions and earn a reward in Ether (ETH). In Ethereum’s case, the mining algorithm was designed to be GPU-friendly, meaning you didn’t need a special ASIC machine as you do for Bitcoin. This made Ethereum mining popular among hobbyists and small-scale miners using gaming PCs or custom rigs. For context, when someone mined an Ethereum block, they typically received a reward (for a long time it was 2 ETH per block, plus any transaction fees from users, some of which were burned after a 2021 update). Ethereum blocks were created roughly every 15 seconds, so miners all over the world were constantly racing to find the next block. This mining activity secured the Ethereum network and processed thousands of smart contract transactions, from simple token transfers to NFT trades and DeFi operations. However, Ethereum mining no longer exists on the main Ethereum network. In September 2022, Ethereum underwent a major upgrade known as The Merge (part of the Ethereum 2.0 roadmap). This upgrade transitioned Ethereum from Proof-of-Work to Proof-of-Stake (PoS). In a PoS system, new blocks aren’t created by miners with hardware; instead, they’re proposed by “validators” who stake (lock up) their ETH as collateral. The change was like swapping out the engine of a running car – and it worked. The result: Ethereum stopped using miners entirely. So, as of 2025, when we talk about Ethereum mining, we’re talking about history or perhaps alternative networks, not something you can do on Ethereum itself today. Why Should You Mine Ethereum? Before Ethereum switched to Proof-of-Stake, mining was a popular way to earn ETH. People mined Ethereum mainly for three reasons: Profit Potential: Mining could be quite lucrative, especially when ETH prices were high. Many saw it as a way to earn crypto without buying it directly. Network Support: Miners helped secure the Ethereum network by validating transactions, contributing to its decentralization and stability. Accessibility & Learning: Unlike Bitcoin, Ethereum could be mined using GPUs, making it easier for individuals to get involved. Many hobbyists joined to learn more about blockchain tech and be part of the crypto space. Today, these reasons are no longer relevant for ETH since mining is no longer possible, but they explain why Ethereum mining was once such a big deal. Next, let’s see how one would have started mining Ethereum (back when it was doable) and what’s changed. How to Start Mining Ethereum While Ethereum mining is no longer possible in 2025, here’s how it used to work: Hardware Setup: Miners used high-performance GPUs or rigs with multiple graphic cards to maximize their computing power. Install Mining Software: Programs like Ethminer or PhoenixMiner connected your hardware to the Ethereum network and handled the mining process. Join a Mining Pool: To earn consistent rewards, most miners joined pools where computing power was shared, and profits were split proportionally. Set Up a Wallet: Miners needed an Ethereum wallet to receive earned ETH from the mining pool. Run and Monitor: Once set up, miners ran their rigs continuously, keeping an eye on temperatures, performance, and electricity costs. These steps were essential back when Ethereum used Proof-of-Work. Today, they’re more relevant for mining other PoW coins, not ETH. Now, let’s talk about a big question on many minds: is there any profit left in “mining” Ethereum or related coins in 2025? Is Ethereum Mining Still Profitable in 2025? No, Ethereum mining is not profitable in 2025, for a simple reason: it no longer exists. Since Ethereum’s switch to Proof-of-Stake in 2022 (known as The Merge), the network no longer relies on miners. Block rewards are no longer given to those who solve computational puzzles, making traditional mining obsolete. After the transition, many former ETH miners tried switching their rigs to mine other Proof-of-Work coins like Ethereum Classic, Ravencoin, or Ergo. However, those coins offer much lower rewards and have become overcrowded with excess mining power. As a result, the profitability of mining in general has dropped sharply, especially for those with high electricity costs or older hardware. If you're looking to earn ETH in 2025, staking is now the primary method. Instead of using energy-intensive machines, you earn rewards by locking up ETH and helping secure the network. While the returns aren’t massive, staking is far more sustainable, accessible, and aligned with Ethereum’s future. Is Ethereum Mining Legal in 2025? In most countries, crypto mining is legal, but Ethereum mining is no longer relevant in this context. Since Ethereum no longer uses Proof-of-Work, there’s nothing to “mine” legally or illegally on the main network. That said, mining other coins is still allowed in many places like the U.S. and parts of Europe, though some countries (like China or Kosovo) have banned or restricted it due to energy concerns. Always check local laws if you’re considering mining any cryptocurrency. For Ethereum itself, staking has replaced mining, and it’s generally legal as a form of passive income. Just be sure to follow your country’s tax rules. Conclusion Ethereum mining is officially a thing of the past. Since the network's transition to Proof-of-Stake in 2022, traditional mining has been completely phased out. You can no longer earn ETH by running hardware or solving cryptographic puzzles, those rewards are gone for good. So if you’re wondering, “Can you still mine Ethereum in 2025?” the answer is a clear no. However, Ethereum is far from dead. It has simply evolved. Today, if you want to earn ETH and support the network, staking is the way forward. While it doesn’t involve machines or mining rigs, staking offers a more energy-efficient, scalable, and accessible path for long-term participation. Ethereum’s future is still bright, it just looks very different from its mining past. Register now and explore the wonderful crypto world at Bitget! Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Is Crypto Sports Betting Legal? What You Need to Know

Crypto sports betting means using digital currencies like Bitcoin or Ethereum to place wagers on sporting events. It offers faster, cheaper, and more private transactions than traditional betting — but that doesn’t mean it’s always legal. Because both gambling laws and cryptocurrency regulations vary across the world, the legality of crypto sports betting is anything but simple. In this article, we break down what crypto sports betting is, why its legal status varies globally, and what every bettor should be aware of before getting started. What Is Crypto Sports Betting? Crypto sports betting allows users to place bets using cryptocurrency instead of fiat currency. Some platforms mirror traditional sportsbooks but accept crypto deposits, while others are fully decentralized applications (dApps) that operate on blockchain technology. In these decentralized platforms, smart contracts automatically handle bet placement and payouts without a central operator. The advantages are compelling: blockchain betting can offer transparent odds, quicker settlements, lower fees, and — in some cases — the ability to place bets without providing personal identity documents. While the user experience is similar to traditional online betting — deposit, wager, and withdraw — crypto sports betting runs on wallets and blockchain networks instead of banks. This adds speed and anonymity, but also technical complexity and risk, especially for new users. Why There’s No One-Size-Fits-All Answer on Legality Whether crypto sports betting is legal depends on two main factors: Is online gambling legal where you live? Is cryptocurrency legal or regulated in your country? Some regions allow sports betting but prohibit crypto usage. Others ban gambling entirely, regardless of the currency used. A few places support both activities, but apply strict regulatory frameworks. For instance, some countries consider crypto as a financial asset rather than legal tender, meaning betting with it can fall into a regulatory loophole. Meanwhile, many governments still enforce long-standing laws that restrict or ban gambling activities altogether. This overlapping web of gambling law and crypto regulation means crypto sports betting often exists in a gray area — technically accessible, but not always legal or protected. Where Is Crypto Sports Betting Legal? United States Sports betting is legal in over 30 states, but licensed sportsbooks rarely accept crypto. Bettors often resort to offshore platforms that accept digital currencies but operate without U.S. oversight, creating legal ambiguity and lack of protection. United Kingdom & European Union The UK allows sports betting under strict licensing, and crypto use isn’t illegal — but regulated sportsbooks typically don’t support it. Malta and Gibraltar are exploring more crypto-friendly licensing models, though clear guidelines for crypto-specific sportsbooks are still evolving. Asia (China, Philippines) China bans both cryptocurrency and online gambling, making crypto sports betting strictly illegal. The Philippines allows licensed sports betting (often aimed at foreign markets) and has a partial framework, but crypto-specific betting operates outside clear regulatory structures. Latin America (Brazil, Argentina) Brazil has legalized sports betting but prohibits the use of cryptocurrency as a payment method. In Argentina, gambling is regulated on a provincial level, and while crypto is not banned, its use in betting is generally unregulated, leading users to offshore platforms. Africa (Kenya, South Africa) Kenya and South Africa both allow sports betting and cryptocurrency trading. However, crypto sportsbooks are not yet fully regulated, and most activity takes place on international platforms. Local rules are still developing, and oversight varies by country. Risks of Using Unregulated Platforms Engaging with unlicensed crypto sportsbooks comes with serious risks: Fraud & Scams: Platforms can disappear with users' funds, with no legal recourse. No Consumer Protection: Losses from technical errors or fraud often can’t be recovered. Legal Exposure: Gambling in restricted regions can result in fines or penalties. Irreversible Mistakes: Transactions on the blockchain cannot be undone, including those made to wrong addresses or on faulty platforms. Users should be particularly cautious with platforms that operate without a recognized gambling license or transparency about ownership and regulation. How to Stay Informed and Safe Before diving into crypto sports betting: Research your local laws on both crypto and gambling. Use licensed and regulated platforms with clear operational transparency. Avoid platforms making unrealistic promises or lacking basic user protections. Follow official updates from regulatory authorities and trusted crypto news sources. Only bet what you can afford to lose, given both crypto volatility and betting risks. Crypto and gambling are each risky in isolation — combining them heightens the stakes. Conclusion Crypto sports betting is part of a larger shift toward decentralized digital finance, but it exists within a legal framework that’s still catching up. Whether or not it’s legal depends entirely on where you are, and how local authorities treat both cryptocurrency and online gambling. Some countries have banned it outright. Others allow it under strict conditions. Most still haven’t addressed it clearly. For now, if you're thinking about placing bets with Bitcoin or any other coin, the smartest move is to understand your local laws, choose your platform wisely, and tread carefully. Legal clarity may come in the future — but until then, responsible and informed betting is the best approach. Register now and explore the wonderful crypto world at Bitget! Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

How Are the China Crypto Ban and South Korea Election Reshaping Bitcoin Price and the Asian Crypto Scene?

The cryptocurrency industry is facing a pivotal turning point as China introduced its most sweeping ban yet on digital assets, making it illegal not only to trade but even to own cryptocurrencies. The “China crypto ban” intensified market jitters, sending bitcoin price and altcoins tumbling, undermining investor sentiment. In stark contrast, South Korea—following a pro-crypto election—signals a divergent path, offering both sanctuary for innovation and new opportunities for investors and companies. China Crypto Ban: What Has Changed in 2025? The 2025 China crypto ban represents the nation’s harshest stance to date. Unlike previous clampdowns, this regulation outlaws both cryptocurrency trading and ownership for all Chinese citizens and businesses. The new law is sweeping in scope, shutting down direct and indirect routes to crypto assets—even targeting those who trade on offshore platforms. Enforcement efforts have ramped up, eliminating common workarounds and sending a chilling message throughout the Chinese crypto community. This uncompromising China crypto ban leaves no room for ambiguity: all involvement with Bitcoin, Ethereum, and altcoins is illegal, fuelling capital flight and forcing innovation out of China. The Government’s Rationale: Currency Controls, Digital RMB, and RMB Strategy The driving force behind the China crypto ban is rooted in the country’s desire to maintain authority over capital flows and monetary policy. The Chinese government has long exercised strict foreign exchange controls, wary that legalizing or tolerating cryptocurrencies would unlock a massive loophole for capital flight. There is a vast mismatch between China’s RMB in international reserves versus RMB in broad money supply (M2) within its borders. Legal crypto trading could allow domestic capital to escape government oversight, undermining the state’s hold on the economy and threatening the renminbi’s value. Crucially, the China crypto ban also aligns with Beijing’s commitment to the digital RMB (digital yuan) initiative. By tightly controlling the monetary system and launching a sovereign digital currency, Beijing seeks to capture the benefits of blockchain while centralizing oversight. The rise of decentralized cryptocurrencies conflicts with the goal of making the digital RMB the leading digital payment platform in China and, eventually, a player on the world stage. Beyond capital controls and the digital yuan agenda, regulators also cite ongoing concerns about financial scams, fraudulent fundraising, money laundering, and the energy usage of crypto mining. Until China successfully internationalizes the RMB—and asserts the digital RMB as a global standard—its crypto ban is likely to remain absolute. China’s History of Crypto Bans: A Pattern of Escalation The road to the 2025 China crypto ban has been long and fraught. Chinese authorities first restricted banks from handling Bitcoin transactions in December 2013. Bitcoin price subsequently tumbled, falling roughly 50% in mere weeks. The crackdown continued in 2017, when Beijing banned Initial Coin Offerings (ICOs) and local exchanges, driving bitcoin price from $5,000 to under $3,000. A dramatic escalation came in 2021, when China targeted miners—then responsible for over 60% of global Bitcoin hashing power—and cut off payment platforms from any crypto dealings. This action led to a swift drop in bitcoin price from $56,000 to around $30,000. Finally, in late 2021, Beijing declared all cryptocurrency transactions illegal, impacting both bitcoin price and altcoin markets worldwide. Price of Bitcoin after China ban crypto mining Each phase of the China crypto ban has produced sharp volatility in bitcoin price. However, the crypto market’s resilience—fueled by global capital and decentralized innovation—has consistently turned short-term setbacks into rebounds as miners, investors, and developers migrated to friendlier shores. Market Impact: How the China Crypto Ban Shaped Bitcoin Price The 2025 China crypto ban sent shockwaves through the crypto sector. News of the ban triggered panic selling, with the bitcoin price sliding below $106,000. Altcoins mirrored this downtrend, while trading volumes surged on global exchanges as investors scrambled to exit volatile positions. The immediate aftermath saw capital flight, with many companies and miners accelerating their move abroad. While the initial price plunge echoed earlier clampdowns, longer-term market reactions are increasingly shaped by the industry’s global resilience. Past China crypto bans led to periods of short-term pain followed by recoveries as the center of gravity shifted to crypto-friendly countries. This time, with ownership itself banned, the exiled capital and innovation are expected to strengthen rival Asian hubs, carrying long-term implications for both bitcoin price trends and the worldwide crypto ecosystem. Asia’s Diverging Crypto Paths: The Impact of the South Korea Election While the China crypto ban in 2025 has imposed some of the region’s most severe restrictions on digital asset activity, South Korea is moving in the opposite direction under its newly elected president, Lee Jae-myung. Elected on a platform that embraces the potential of blockchain and digital assets, President Lee’s administration is expected to foster a considerably more favorable environment for the cryptocurrency industry. Early signals from the new government include proposals to streamline crypto regulations, enhance investor protections, and encourage both domestic and international blockchain projects to build and expand in South Korea. Initiatives to support legitimate ICOs, develop innovation hubs, and clarify tax and compliance requirements are under consideration. This forward-looking approach is designed to attract investment and entrepreneurial talent that might otherwise leave Asia due to the ongoing and increasing effects of the China crypto ban. Although South Korea’s market is smaller than China’s, the election of a pro-cryptocurrency president has prompted optimism among both investors and innovators across the region. The New Crypto Map of Asia After the China Crypto Ban The stark contrast between the China crypto ban and the outcomes of the South Korea election is realigning Asia’s cryptocurrency landscape. As China doubles down on its restrictive approach, more innovation, investment, and talent are flowing to countries like South Korea, Singapore, and Japan. This shift not only impacts bitcoin price trends but also drives a fragmentation of the Asian crypto market, forcing investors and companies to adapt quickly to new regulatory realities.