The crypto industry has emerged triumphant in the first half of 2025.

Investors kicked off the year optimistic about the Trump administration’s crypto-friendly stance, including talk of a strategic bitcoin reserve. But enthusiasm wavered early on, after the launch of Trump- and Melania-themed meme coins stirred controversy during a pivotal time for the crypto world.

Momentum returned with the appointment of Paul Atkins as SEC chair and the introduction of a dedicated crypto czar, helping push bitcoin to record highs just below $112,000.

A sharp sell-off followed Trump’s April 2 “Liberation Day” tariffs, briefly cooling sentiment. But as June closes with stocks at record levels, crypto has reasserted itself as a…