News from the crypto world: overview of the past week

News from the crypto world: overview of the past week

Bitcoin and Ethereum reached new highs

Bitcoin approached a record high, climbing to nearly $122,300, with the record standing at around $123,100

Ethereum surpassed the $4,600 mark, the highest price since December 2021

Institutional interest has risen sharply – accumulation in the ETF market, plus strong investments from universities such as Harvard and Brown

Ether traded above $4,600 thanks to optimism about ETFs and increased demand from companies such as Bitmine Immersion and Sharplink Gaming

Regulatory framework and mainstream adoption

President Trump approved allowing 401(k) retirement plans to invest in cryptocurrencies — leading to $1.57 billion inflows into Bitcoin and Ethereum funds

The SEC launched "Project Crypto" with the goal of de-signaling most cryptocurrencies as securities and providing clearer regulations (including staking outside the SEC's framework)

Citigroup expands into digital assets

Citigroup is seriously considering entering the custody services market for stablecoins and assets backed by US government bonds, and also wants to use blockchain payments and potentially its own stablecoin

Fraud and collapse: Do Kwon accepts blame

Do Kwon, founder of Terraform Labs, has pleaded guilty to US fraud charges related to the collapse of TerraUSD and LUNA, which caused up to $40 billion in losses

As part of the agreement, he has committed to a maximum sentence of 12 years in prison, the surrender of assets worth more than $19 million, and the relinquishment of his shares in the project; sentencing is scheduled for December 11, 2025.

Niche cryptocurrencies in the spotlight

Fandom cryptocurrency Animecoin has partnered with US company GameSquare, which will promote it globally within the gaming community. Animecoin focuses on avatars and blockchain for anime enthusiasts, but the risk of volatility remains high.

IPOs and sales: Crypto sparkles even in turbulent times

The Burliish exchange has more than doubled in value since listing on the NYSE, with a market valuation of $10.2 billion, confirming growing interest in state-regulated entities in crypto

eToro CEO highlights successful IPO, M&A plans, and belief in tokenization of financial assets as the future — particularly in response to improving regulations

An interesting new player in the media field, The Rage, has prompted changes to Google's terms and conditions, which previously restricted non-custodial crypto wallets

Fatal risks: scams, pig-butchering, and real victims

The report finds growing victims of so-called pig-butchering scams: in Asia and the Middle East, people are losing their life savings due to fraudulent investments in fake cryptocurrencies. Images of authentic influencers were misused without their knowledge.

Summary

Market developments: Bitcoin and Ethereum continue to grow, institutional interest in full swing

Regulation & adoption: Trump administration + SEC clearer framework, ethical acceptance in the mainstream

Traditional finance: Citigroup seriously considering entering digital assets

Fraud & scandals: Do Kwon confessed, pig-butchering affected real lives

Crypto today:

New York lawmaker wants to tax cryptocurrency sales and transfers

New York State Assemblyman Phil Steck has introduced a bill that would require the state to tax cryptocurrency sales and transfers.

*This is not investment advice.

The Coingarage Team