Stay in the loop with our weekly crypto digest as we get you up to speed on the hottest trends and events in the crypto space.
Here’s what happened in crypto this week:
Coinbase Secures MiCA License, Expands Across EU
Coinbase has secured a Markets in Crypto-Assets (MiCA) regulation license in Luxembourg, allowing it to operate legally across all 27 EU countries under new EU-wide crypto regulations.
The license enables the exchange to “passport” services throughout the bloc, thereby boosting access for both retail and institutional users.
This marks a significant milestone as the MiCA framework implementation begins, positioning Coinbase as a leading player in Europe’s regulated crypto market.
Bitcoin Drops Below $100K Following US Strikes On Iran
Over the weekend, the crypto markets dipped after the United States announced it had conducted three military strikes on Iranian nuclear sites, leading to over $1 billion in daily liquidations and plunging Bitcoin’s price below $100,000 for the first time in 45 days.
The liquidations primarily consisted of long positions, and altcoin prices saw the most significant declines, while the top 30 cryptocurrencies by market capitalization held up best.
Iran’s parliament indicated it may close off the Strait of Hormuz, a crucial choke point for the global oil trade.
Texas Bitcoin Strategic Reserve Officially Signed Into Law
The Texas State Government has officially signed a strategic Bitcoin reserve into law, thereby diversifying its financial investment strategy.
Following this event, Texas officially became the third US state—after Arizona and New Hampshire—to establish a Bitcoin reserve fund, doing so under the pro-crypto administration of Donald Trump.
The bill, now law, states the proposed Bitcoin reserve is to exist outside the state treasury but still under the investment authority of the Comptroller of Public Accounts.
OKX Plans To Go Public In The United States
Crypto exchange OKX is reportedly exploring an initial public offering (IPO) in the United States, according to a report by The Information.
Notably, in April 2025, the exchange announced plans for US expansion following a $500 million settlement with the Department of Justice in February. This settlement resolved allegations that OKX operated a money transmitting business without proper licensing.
As part of its expansion, OKX established its regional headquarters in San Jose, California. This potential move comes amid increasing interest from crypto exchanges in pursuing US listings.
Federal Reserve Scraps ‘Reputational Risk’ To Ease Pressure On Banks Serving Crypto
The Federal Reserve has made a significant change to its supervisory framework by removing the concept of “reputational risk” from its assessment of banks.
This move aims to provide clearer guidance and alleviate the pressure on lenders that serve industries with a controversial reputation, including the cryptocurrency sector.
The Fed’s decision mirrors similar actions taken by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC).
Crypto advocates have welcomed the Fed’s decision, with Wyoming Senator Cynthia Lummis calling it “a win” for the industry. However, she noted that there is still more work to be done to ensure fair access to banking services for crypto companies.
Federal Reserve Chair Jerome Powell Says Banks Are Free To Conduct Crypto Activities
During congressional testimony, Federal Reserve Chair Jerome Powell confirmed that US banks are free to do business with the crypto sector.
“That is not our decision,” Powell said. “Banks are free to provide banking services to the crypto industry and crypto companies, and banks are also free to conduct crypto activities as long as they do so in a way that is protective of safety and soundness.”
The statement came as he also defended the Fed’s decision to hold interest rates at a restrictive level. Moreover, Powell admitted that the Fed’s current policy is being shaped by inflation projections for 2025.
Mastercard And Chainlink Partners To Enable Nearly 3 Billion Cardholders To Buy Crypto On-Chain
Payments giant Mastercard has partnered with Chainlink to enable over 3 billion cardholders to purchase crypto assets directly onchain through a secure fiat-to-crypto conversion system.
The collaboration integrates Mastercard’s global payments network with Chainlink’s interoperability infrastructure, alongside key partners including zerohash, Shift4 Payments, Swapper Finance, and XSwap.
The partnership leverages the Uniswap protocol to create a unified, compliant platform where zerohash provides core compliance and transaction infrastructure, Shift4 enables card processing, and XSwap sources liquidity from decentralized exchanges.
Tether To Become Largest Bitcoin Miner By End Of 2025, CEO Paolo Ardoino
In an interview with crypto news outlet The Block, Tether CEO Paolo Ardoino spoke about the company’s plans to become the largest Bitcoin miner in 2025.
Notably, the company has been actively investing in various sectors, including artificial intelligence, telecommunications, data centers, energy infrastructure, and Bitcoin mining.
Ardoino revealed that Tether holds over 100,000 BTC, making it crucial for the company to join a “Bitcoin mining security team” to safeguard its substantial Bitcoin investment, valued at over $10 billion.
This expansion is part of Tether’s broader strategy to maintain its dominant position in the cryptocurrency ecosystem and diversify its revenue streams.
Ledger Discontinues Support For The Nano S
Ledger is phasing out support for the Nano S by the end of 2025. This means no more firmware updates or app support, pushing users toward newer devices like Nano S Plus or Nano X.
For developers, Ledger’s focus shifts to newer hardware. Nano S app development will halt, making it critical to integrate with Nano S Plus or Nano X for future-proofing projects.
Notably, many express frustration over feeling forced to buy new devices, with posts highlighting distrust and disappointment in Ledger’s decision to discontinue support for a still-functional wallet.
Final Thoughts
So that’s it for this week!
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Have a fantastic week ahead!