Welcome to our 226th issue of State of the Market, where we provide an overview of crypto market activity from June 19-25, 2025.
This week in crypto markets:
- Crypto markets rebounded after geopolitical tensions triggered a weekend selloff, with BTC recovering from $99K to above $106K.
- Japanese firm Metaplanet purchased 1,234 BTC, reaching a of 12,345 BTC and making it the 7th largest corporate Bitcoin holder.
- Codex, an EVM Layer-2 blockchain purpose-built for B2B stablecoin transactions, launched mainnet with native USDC support.
- OKX is weighing a U.S. public listing after re-establishing its presence in the United States.
Kraken secured a MiCA license to expand regulated services across the European Economic Area.
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