Bitcoin, Ethereum, Cosmos and More Week 15 2025

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TL;DR

  • Ross Ulbricht to Speak at Bitcoin 2025

  • Bitwise Holds $200K Bitcoin Target

  • SEC Approves ETH Options for BlackRock ETF

  • Vitalik Buterin Outlines Ethereum Privacy Roadmap

  • Neutron Mercury Upgrade Launches

  • Osmosis Becomes Bitcoin Secured Network

  • Pakistan appoints CZ as crypto advisor

  • Paul Atkins confirmed as SEC Chair

and much more!

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Bitcoin Highlights of the Week

Strategy, formerly MicroStrategy, disclosed $5.91 billion in unrealized Bitcoin losses for Q1 2025 after purchasing 80,715 BTC at an average price of $94,922. The firm has paused new acquisitions in Q2, keeping its total holdings at 528,185 BTC, roughly 3% of Bitcoin’s supply, valued at over $43 billion.

The halt follows lackluster demand for its equity offerings and Bitcoin’s 11.82% drop, marking its worst quarterly performance since 2018. Broader market turmoil driven by geopolitical tariffs also dragged MSTR shares down 8%, compounding the firm’s unrealized losses and signaling investor caution amid ongoing macroeconomic volatility.

Ross Ulbricht, founder of Silk Road and long-time symbol of the “Free Ross” movement, will speak at Bitcoin 2025 in Las Vegas. This will be his first public appearance as a free man. Pardoned by former President Trump on January 21, 2025, Ulbricht’s release ends a decade-long campaign against his double life sentence.

His return marks a major moment for the Bitcoin community, which has long viewed him as a pioneer and freedom advocate. Ulbricht’s presence is expected to energize the event and reinforce Bitcoin’s core ideals of liberty and decentralization.

A new bill in New York, Assembly Bill A7788, seeks to authorize state agencies to accept Bitcoin, Ethereum, Litecoin, and Bitcoin Cash for payments including taxes, fines, and fees. Introduced by Assemblyman Clyde Vanel, the bill reflects a rising trend in state-level crypto legislation amid national momentum under the Trump administration.

If passed, it would allow the state to charge a service fee to cover transaction-related costs. This is New York’s second major crypto legislative effort in recent weeks, signaling growing institutional interest in integrating digital assets into the public financial system.

Russia and China have reportedly begun settling energy transactions using Bitcoin, signaling a major shift away from the U.S. dollar. This move, highlighted by VanEck’s Matthew Sigel, is part of a broader effort by countries to reduce reliance on U.S. financial systems.

Cryptocurrency attorney Sasha Hodder emphasized that this development could mark the beginning of the end for the dollar’s dominance in global trade. Additionally, countries like Bolivia and France are exploring similar initiatives, further advancing Bitcoin’s role as a functional monetary tool and potentially undermining the dollar's global reserve status.

Bitwise has reaffirmed its $200K Bitcoin price prediction for 2025, despite growing global trade tensions. Matt Hougan, the firm’s chief investment officer, pointed to a historical correlation between a weakening U.S. dollar and Bitcoin’s strength.

Hougan suggests that the ongoing trade disruptions under President Trump’s administration could accelerate Bitcoin’s growth, as dollar weakness creates opportunities for alternative assets. He also predicts a shift toward a more fractured global reserve system, with Bitcoin and gold gaining prominence. This follows news of Russia and China reportedly settling energy trades in Bitcoin.

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Ethereum Highlights of the Week

The U.S. SEC has approved options trading for BlackRock’s iShares Ethereum Trust (ETHA), a pivotal moment for Ethereum's integration into traditional finance. This decision, tied to a Nasdaq ISE filing from July, enables institutional investors to access Ethereum with more sophisticated tools like risk hedging and leveraged exposure.

The approval significantly boosts Ethereum's legitimacy in regulated markets, signaling growing institutional confidence and interest. As financial giants like BlackRock deepen their crypto footprint, Ethereum continues to bridge the gap between digital assets and legacy systems, setting the stage for broader mainstream adoption in 2025 and beyond.

Ethereum co-founder Vitalik Buterin has released a detailed roadmap to enhance user privacy across the Ethereum ecosystem. His proposals include integrating privacy tools like Privacy Pools into wallets with default shielded transactions, revamping DeFi architecture with one address per app, and adding protocol upgrades like EIP-7701 and FOCIL to improve censorship resistance and account abstraction.

Buterin also advocates replacing current RPC systems with Trusted Execution Environments and, eventually, Private Information Retrieval systems. These updates aim to make Ethereum more private without compromising user experience or requiring separate privacy wallets.

HashKey has secured regulatory approval from Hong Kong’s Securities and Futures Commission to offer ETH staking services, becoming one of the first licensed platforms in the region to do so. This milestone enables HashKey to support staking for spot Ether ETFs, allowing investors to earn passive income while holding ETH or ETF shares.

The move follows favorable guidance from both the SFC and China’s CSRC, signaling strong institutional support. While Hong Kong leads, the U.S. still prohibits staking within its spot ETH ETFs, though analysts anticipate changes under the current pro-crypto administration.

Cosmos has launched Eureka, a major upgrade to its Inter-Blockchain Communication (IBC) protocol, enabling native interoperability with Ethereum. This removes the need for bridges and allows developers to build multichain apps across both ecosystems without liquidity fragmentation.

Eureka’s distribution zone lets users access IBC’s full network via Cosmos Hub. Early use cases include Bitcoin staking via Babylon and DeFi trading with Elys. Future integrations will bring multichain features to dYdX and real-world asset tokenization through Mantra. Cosmos aims to establish IBC as a universal interoperability standard, driving $3B in monthly cross-chain volume.

A DeFi whale suffered a $74 million loss after Ethereum’s rapid 20% price drop triggered liquidation on Sky (formerly MakerDAO). The loan, backed by a massive ETH collateral, was forcefully liquidated when the protocol’s threshold was breached. As ETH fell to $1,431, Sky’s automated mechanism sold off the whale’s collateral.

Other whales narrowly avoided similar fates by topping up collateral. If ETH drops below $1,200, over $324 million in loans on Sky face liquidation. The event underscores the risks of overleveraged positions and the systemic shock potential in volatile DeFi lending environments.

Cosmos Highlights of the Week

Neutron's Mercury upgrade is now live, enhancing the platform's capabilities with 11x higher throughput and 1.6x faster block times. The upgrade brings sovereign governance, integrated infrastructure, and $NTRN liquid staking.

As part of the upgrade, users can expect 18x faster block times, seamless wallet logins, and an $ATOM rewards program in the near future. Additionally, Neutron introduces Supervaults for market-making. The $NTRN staking mechanism also offers auto-compounded rewards and access to the upcoming $DROP airdrop. Neutron is positioning itself as a top choice for DeFi pioneers and builders.

The KYVE Foundation has started delegating 1 million $KYVE tokens to selected validators to bolster its long-term vision. So far, 18 validators have received 1 million tokens each. This initiative supports those actively contributing to the project's growth and the wider KYVE ecosystem.

Some validators are still completing their setup, and the delegation process is ongoing. Further updates on the progress will be provided. This move aims to further decentralize the network and strengthen the KYVE data storage platform.

Babylon Genesis, the world’s first Layer 1 blockchain secured by Bitcoin, has officially launched. This launch positions the Babylon Bitcoin staking protocol as a foundational infrastructure layer for Bitcoin, enabling the transformation of idle Bitcoin into a key component of the decentralized economy.

By unlocking Bitcoin’s full utility, Babylon Genesis is set to provide the most impactful staking solution in the Web3 ecosystem, making Bitcoin a more integral part of decentralized finance and blockchain technology. This marks a significant leap forward in bridging the gap between Bitcoin and the broader blockchain landscape.

Osmosis is integrating with Babylon Genesis to become a Bitcoin Secured Network (BSN) through governance proposal 919. This strategic move will enhance security by leveraging Bitcoin’s blockchain for consensus data validation, reducing vulnerability to attacks.

The integration will also allow Osmosis to tap into the Babylon ecosystem, bringing Bitcoin DeFi opportunities. Additionally, the Osmosis Grants Program will receive 25 million BABY tokens, and a revenue-sharing agreement will direct 50% of trading fees from Babylon assets to Babylon. This partnership aims to drive liquidity and bolster Osmosis’s role in decentralized trading.

MANTRA has partnered with KaitoAI to launch the RWA Thought Leaders Program, aiming to reward active community engagement and insightful discussions around RWA tokenization and DeFi. For the next six months, the top 88 contributors on the Yapper leaderboard will share a monthly pool of 8,888 $OM tokens.

Participants can link their X accounts, track rankings in real time, and utilize educational resources like MANTRA Academy and Metaschool. This initiative targets developers, researchers, and thought leaders, positioning MANTRA as a hub for meaningful conversation and innovation in the RWA space.

Other Highlights of the Week

Pakistan has named Binance founder Changpeng Zhao (CZ) as a strategic advisor to its newly formed Pakistan Crypto Council. Announced on April 7, 2025, this move signals Pakistan's intent to accelerate its adoption of blockchain, Web3, and digital finance.

With a young, tech-savvy population and full internet coverage, Pakistan positions itself as an emerging crypto hub. CZ’s involvement is expected to provide high-level guidance on infrastructure, education, and policy. The appointment also aligns with broader efforts to boost crypto literacy and innovation through initiatives like Giggle Academy for out-of-school youth.

The U.S. Senate has officially confirmed Paul Atkins as the new Chair of the Securities and Exchange Commission. Known for his favorable stance toward digital assets, Atkins brings a crypto-friendly perspective to the agency. His appointment signals a regulatory shift from aggressive enforcement to fostering innovation in blockchain and finance.

Atkins is expected to focus on clearing reforms and operational improvements at institutions like the DTCC and CME. This move is seen as a potential turning point in the SEC’s approach to digital asset regulation under the Trump administration.

On April 11, 2025, President Donald Trump signed his first crypto-focused bill, which repeals an IRS rule from the Biden administration. The rule had classified DeFi platforms and crypto wallets, like MetaMask and Uniswap, as brokers, requiring them to collect extensive customer data for tax reporting.

The repeal is seen as a victory for the DeFi sector, preventing what many considered a regulatory overreach that would hinder innovation. While some Democrats voiced concerns over potential tax evasion, the bill received bipartisan support and is expected to save the government $4 billion.

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