London Daily

Focus on the big picture.
Wednesday, Jul 30, 2025

2021: the year crypto went mainstream

2021: the year crypto went mainstream

Cryptocurrency investment is not for the faint of heart – bitcoin had another volatile year, soaring from $29,405 at the beginning of the year to as high as $67,554 on Nov. and was trading at $50,908 on Friday.
Yet, 2021 was the year that more people were exposed to the world of crypto than ever before. Most famously, El Salvador became the first country to make bitcoin legal tender, while in a huge development for financial markets, the first exchange-traded fund tied to bitcoin futures also began to trade.

Studies show that about 13 percent to 14 percent of Americans now own or have owned cryptocurrencies.

It has caught the attention of regulators in a major way. Treasury Secretary Janet Yellen was asked about bitcoin at her confirmation hearing. Securities and Exchange Commission (SEC) Chairman Gary Gensler has called it the “Wild West.”

At the beginning of the year, there was about $25 billion invested in decentralized finance projects, such as decentralized exchanges and lending/borrowing platforms. Now it’s $100 billion.

The market cap of the top five stablecoins — Tether, UDS Coin, Binance USD, Terra USD, and Dai — is $152 billion.

Central bank digital currencies (CBDCs) moved ahead, bringing real-time payments a step closer.

Leading the pack is China’s digital yuan, which came out of the testing phase as is set to launch in tome for the Winter Olympics in Beijing this February. While it is not the first country to have a CBDC — the Bahamian Sand Dollar came first – but China’s project has got other central banks moving and now 87 institutions, including the European Central Bank and the Bank of England, are exploring their own.

However, US Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell are yet to be convinced of the need for a digital dollar.

China also put itself of crypto markets by banning crypto trading and mining, forcing companies and investors to shift en masse to other countries.

Nonfungible tokens (NFTs) leapt into the mainstream with the $69 million sale of NFT collage by artist Beeple at Christie’s in May. Since then, sports brands, including football and basketball clubs and brands such as Adidas, have jumped in with their own tokens that give ownership of digital images and video.

US cryptocurrency exchange Coinbase launched its IDO — an initial direct offering, similar to an initial public offering (IPO) but without financial middlemen — on Nasdaq in April, making it the first crypto industry firm to go public without using a reverse merger, known as a SPAC.

The industry most at risk from the rise of cryptocurrencies is finance, so it’s notable how many banks started to dip their toes in the market this year. Major banks and other financial institutions started to offer crypto investments to wealthy customers while beginning to look at custody services real-time payments using cryptos or CBDCs.
Newsletter

Related Articles

0:00
0:00
Close
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
×