Bitcoin spent the Christmas week stuck below $90,000, but the debate around its “real” all-time high caught fire. Adjusted for inflation, research shows BTC never truly reached six figures, topping out just under $100,000 in 2020-dollar terms. At the same time, futures open interest has dropped to an eight-month low, showing a major leverage flush as ETF outflows and failed breakouts kept price action heavy.
Outlooks now split: some expect a long grind higher driven by slow institutional buying, while others warn the four-year cycle could still deliver a deeper drawdown into 2026. In Washington, policy heat rose as Coinbase urged Congress not to revive the GENIUS Act, arguing it would choke stablecoin rewards and hand the field to big banks.
A lot moved beneath the surface this week. Read the full recap to see what actually matters next.
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TOP CRYPTO NEWS RECAP (December 21-27, 2025)
- Coinbase Chief Warns Congress Against Reopening GENIUS Act
- Bitmine Stakes $219M in ETH as Treasury Tops 4 Million Tokens
- White House Signals ‘Dream Team’ Forming for U.S. Crypto Regulation
- BNB Chain Sets January Date for Fermi Hard Fork to Speed Up Transactions
- Trust Wallet to Reimburse $7M Lost in Christmas Day Extension Hack
- Philippines Blocks Coinbase and Gemini in Crackdown on Unlicensed Crypto Platforms
Coinbase Chief Warns Congress Against Reopening GENIUS Act
Coinbase CEO Brian Armstrong said reopening the GENIUS Act would cross a “red line,” accusing banks of lobbying to restrict stablecoin rewards and limit competition. He argued banks want to block yield-sharing now but will later seek the same privileges. The law currently bans issuers from paying interest directly but allows platforms to offer rewards. Meanwhile, lawmakers proposed tax relief for small stablecoin payments and staking income.
Bitmine Stakes $219M in ETH as Treasury Tops 4 Million Tokens
Bitmine deposited about 74,880 ETH (~$219M) into Ethereum’s proof-of-stake contract, marking its first major staking move. The firm now holds over 4.06 million ETH and plans to expand staking through its MAVAN infrastructure in 2026. Analysts estimate full staking could yield ~126,800 ETH annually. The move comes as institutions expand ETH exposure and expectations grow for higher Ethereum network TVL.
White House Signals ‘Dream Team’ Forming for U.S. Crypto Regulation
David Sacks said the U.S. now has a crypto regulation “dream team” following Michael Selig’s confirmation as CFTC chair alongside SEC Chair Paul Atkins. Selig said Congress is close to passing a digital asset market structure bill that would clarify oversight and potentially expand CFTC authority. The Senate is expected to take up the legislation after the holiday recess.
BNB Chain Sets January Date for Fermi Hard Fork to Speed Up Transactions
BNB Smart Chain will activate its Fermi hard fork on Jan. 14, following testnet trials in November. The upgrade cuts block times from 750 ms to 250 ms, enabling sub-second confirmations for time-sensitive apps. Fermi also adds improved voting rules for faster blocks and a new indexing system so users can access partial ledger data without downloading full history, supporting higher throughput and DeFi performance.
Trust Wallet to Reimburse $7M Lost in Christmas Day Extension Hack
A compromised Trust Wallet browser extension led to about $7 million in user losses on Christmas Day. Version 2.68 was backdoored, prompting an urgent update to 2.89. Binance co-founder Changpeng Zhao said affected users will be reimbursed. Security firms say the exploit was prepared weeks earlier and likely involved insider activity, with attackers also harvesting user data. Hundreds of users were impacted.
Philippines Blocks Coinbase and Gemini in Crackdown on Unlicensed Crypto Platforms
Philippine regulators have ordered internet providers to block access to Coinbase and Gemini as part of a broader crackdown on unlicensed virtual asset service providers. The directive, issued via the National Telecommunications Commission, targets 50 platforms flagged by the central bank for operating without authorization. While unlicensed exchanges face restrictions, licensed firms continue launching new crypto services in the country.
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