Crypto markets traded lower while several major industry and policy developments drew attention, including Ledger’s reported IPO preparations, Trump’s $5 billion lawsuit against JPMorgan, and PwC’s view that institutional crypto adoption has passed a point of no return.
Crypto markets traded lower while several major industry and policy developments drew attention, including Ledger’s reported IPO preparations, Trump’s $5 billion lawsuit against JPMorgan, and PwC’s view that institutional crypto adoption has passed a point of no return.
The day’s broader crypto narrative extended beyond prices. Ledger is preparing for a $4 billion IPO and has enlisted Goldman Sachs, Jefferies, and Barclays for support, signaling continued interest in crypto infrastructure companies even as major tokens traded lower.
Crypto majors were in the red as gold neared $5,000 and silver approached $100, according to the source material. Bitcoin slipped 1% to $89,100, Ethereum fell 2% to $2,925, Solana dropped 2% to $127, and XRP declined 2% to $1.90, while ZRO, AXS, and DASH led top movers with gains of 15%, 10%, and 8%, respectively.
The day’s broader crypto narrative extended beyond prices. Ledger is preparing for a $4 billion IPO and has enlisted Goldman Sachs, Jefferies, and Barclays for support, signaling continued interest in crypto infrastructure companies even as major tokens traded lower.
Policy and institutional adoption also remained central themes. Ripple CEO Brad Garlinghouse predicted that crypto could reach new highs in 2026, citing regulatory momentum and institutional participation as key drivers. PwC said institutional adoption has moved past a point of no return as regulatory frameworks shift from draft rules toward active supervision.
In U.S. politics and regulation, President Trump sued JPMorgan for $5 billion, alleging politically motivated “debanking.” Kansas introduced its own Bitcoin Strategic Reserve bill, while Treasury Secretary Scott Bessent reiterated the Trump administration’s push for U.S. crypto leadership and support for a strategic Bitcoin reserve.
Corporate market activity added another layer to the sector’s momentum. BitGo briefly surged in its stock market debut before ending its first trading day just above its $18 IPO price, while BlackRock CEO Larry Fink argued for a single blockchain for tokenization as a way to reduce corruption risks and support scaling.
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