The 2024-2025 crypto industry will be remembered for numerous events, including successful IPOs and a growing interest from institutional investors.
Bullish Goes Public
Digital asset operator Bullish has become the latest crypto-native company to pursue an IPO, aiming to replicate the successes of others like Circle. Bullish has raised its IPO price several times, indicating strong investor interest. The IPO was priced at $37 per share, significantly above the expected range of $32-$33, with a total of 30 million shares sold, resulting in a market capitalization of $5.4 billion.
Pantera Capital Bets on Crypto Treasuries
Pantera Capital has ramped up its exposure to the crypto treasury market by investing over $300 million. The company's executives stated that digital asset treasuries can generate yields to grow net asset value. The investments include exposure to Bitcoin, Ether, and Solana.
US Banking Lobby Pushes Back Against Stablecoins
The US banking lobby continues its fight against stablecoins, urging the government to close a perceived loophole in the GENIUS Act. Banking associations argue that stablecoins could undermine the financial system, although critics suggest their true concern may be the threat to banks' business models, which offer low-interest rates.
The crypto industry is undergoing rapid changes, and the proactive measures from companies like Bullish and Pantera Capital, along with resistance from banks, indicate that future developments are inevitable.
