Erik Lowe, a keen observer of the digital asset space, argues that 2025 witnessed more fundamental advancements than any prior year. The shift wasn’t flashy, but it was profoundly important:
- Pro-crypto administration policies gained traction.
- Key appointments signaled a shift in regulatory sentiment.
- Rescinded rules opened doors for traditional finance to engage with crypto.
- Major lawsuits began to subside.
- Coinbase’s inclusion in the S&P 500 marked a watershed moment.
- Robinhood ventured into tokenized stocks.
- Stablecoin legislation provided much-needed clarity.
- Market structure legislation advanced through the House.
- Vanguard reversed its ban on crypto ETFs, potentially unlocking trillions in assets.
These developments, while perhaps less exciting than a sudden price surge, represent a maturing industry, one that’s learning to play by the rules and, in turn, shaping those rules to its advantage.
Pantera Capital, a prominent investment firm in the blockchain space, has been closely monitoring these regulatory shifts. According to Pantera’s Chief Legal Officer, Katrina Paglia, these structural developments are creating a more favorable environment for crypto innovation.
Paul Veradittakit and at Mezo at $23 billion still competitively standing as a smaller exchange. This shift reflects fintechs’ structural advantages in user acquisition, regulatory positioning, and integrated financial services.
Looking Ahead: Predictions Revisited
Pantera Capital also revisited some of their predictions for 2025, assessing their accuracy in light of the year’s events. Not every forecast hit the mark, but the exercise highlights the evolving nature of the crypto landscape and the importance of staying agile.
One particularly prescient prediction involved a more crypto-positive regulatory environment. “We’ll see a winding down of SEC lawsuits, clear definitions of crypto as a particular asset class, and tax considerations,” they predicted. The winding down of SEC lawsuits against major players like here), ticketing (like RealT).
Engagement also grew with unique active wallets at 2.1 million in Q3 with traders having an average of 8.4 NFTs per wallet compared to 4.2 in Q1.
While the future of crypto remains uncertain, the structural progress of 2025 suggests a maturing industry, one that’s becoming more integrated into the traditional financial system and more capable of delivering on its long-term potential. The foundation is set; now it’s time to build.
