The 12 crypto winners of 2025
If 2024 was the year of the crypto reawakening, 2025 was the year the plumbing finally got permitted.
This year, the emerging industry entered January with tentative optimism and exited December with federal statutes.
As a result, the narrative shifted definitively from “crypto as a casino” to “crypto as capital markets infrastructure.”
During this period, volumes moved on-chain, policy moved into the White House, and major asset managers moved past their hesitation, as evidenced most starkly by Vanguard’s reversal earlier this month, which allowed crypto ETFs on its platform.
However, in a year defined by record-breaking flows and legislative victories, not everyone shared the spoils equally.
The winners of 2025 weren’t just the…
