Global and US Google searches for the term "crypto" have fallen to their lowest levels in a year toward the end of 2025, signaling fading engagement from retail investors. The downturn follows major market shocks, including an April crash linked to tariff policy and an October event that triggered nearly $20 billion in liquidations and drove some altcoins down by as much as 99%. Bitcoin has since been trading between $80,000 and $90,000 amid "extreme fear" readings on sentiment gauges, even as some analysts still project prices above $150,000 in 2026.

Wyoming Senator Cynthia Lummis has endorsed Federal Reserve Governor Christopher Waller's October proposal to grant crypto and fintech firms access to restricted "skinny" master accounts at the Fed. She argues the framework would effectively halt Operation Chokepoint 2.0-style debanking, even as some industry participants continue to report account closures and freezes by major banks.

On December 27, China’s National People’s Congress Standing Committee approved a revision of the Foreign Trade Law, which will take effect on March 1, 2026. The overhaul spans eleven chapters and eighty-three articles, strengthening tools for sovereignty, security, digital and green trade, and dispute countermeasures, as industrial profits fell 13.1% in November after a 5.5% October decline.

Bit.com said it will begin winding down operations on December 27, 2025, and complete its User Asset Migration Plan to Matrixport by March 31, 2026. Under the plan, new registrations halt immediately and spot trading will end by late January 2026.

In 2025, meme coins and AI underperformed, with average YTD losses of -31.6% and -50.2%. DeFi fell -34.8% and DEX tokens declined -55.5%, while Layer 2s dropped -40.6%. In contrast, RWA gained +185.8% on average, driven by Keeta Network's 1,794.9% rally, and Layer 1s rose 80.3%.

Bit.com, a cryptocurrency derivatives platform, will begin shutting down its exchange services and migrating user assets to Matrixport on December 27, 2025. The phased wind‑down is expected to run until the end of March 2026 and will affect both derivatives and spot trading access for its global user base.

In 2025, governments shifted crypto into formal policy, led by actions outlined on December 25. The U.S. moved to a Strategic Bitcoin Reserve, the UAE enforced VARA and ADGM rules, and El Salvador kept holdings after ending legal tender, lifting reserves to roughly 7,500 BTC. Pakistan allocated 2,000 megawatts for mining, while Europe and Brazil tightened oversight, including an $18 million central bank stake in Coinbase.

Cryptocurrency exchange Bit.com announced on December 27 that it will gradually shut down operations via a three-stage plan ending on March 31, 2026. New registrations are already halted, spot trading will continue only until January 31, 2026, and cloud mining plus financial products will be settled in late January. Users are urged to withdraw or migrate assets, including via partner Matrixport, with a final withdrawal deadline through a backup station system set for March 31, 2026.