Welcome to This Week in Crypto, where we break down the biggest stories moving the digital asset world. From billion-dollar Bitcoin movements to long-term corporate strategies, here’s what had everyone talking this week:

Here’s a quick look at what’s new:

  • Big banks go blockchain: A new report shows Citigroup, Goldman Sachs, and JPMorgan leading over 100 blockchain investments since 2020, with a focus on tokenization, custody, and payments.
  • Visa expands stablecoin support: Visa added three new stablecoins and two blockchains (Avalanche and Stellar) to its settlement network, continuing its push to modernize payments.
  • BitMine builds massive ETH position: BitMine acquired over 833,000 ETH in just over a month, reaching $2.9B in holdings and becoming the third-largest crypto treasury worldwide.

Let’s take a closer look at what it all means for the crypto space this week!

Traditional Finance Banks Accelerate Blockchain Investments

Some of the world’s biggest banks, including Citigroup, JPMorgan, and Goldman Sachs, have been investing heavily in blockchain technology. A new report shows that between 2020 and 2024, global banks participated in 345 deals involving blockchain startups. These investments focused mostly on early-stage companies working on trading systems, tokenization, custody, and payments.

  • Citigroup and Goldman Sachs led the way with 18 deals each; JPMorgan and Mitsubishi UFJ followed with 15.
  • Banks took part in 33 deals worth $100 million or more, backing firms like CloudWalk and Solaris.
  • Global Systemically Important Banks (G-SIBs) made 106 investments, including 14 mega-rounds

In total, over $100 billion was invested into blockchain startups during the four-year span. Institutions in the U.S., Japan, Singapore, France, and the UK were among the most active.

Stablecoin usage is growing fast, with volumes reaching up to $700 billion per month earlier this year. New rules like the EU’s MiCA framework are helping banks move forward with clearer guardrails. As interest builds, much of the focus is on infrastructure and real-world use cases.

Visa Expands Stablecoin Support Across More Blockchains

Visa is expanding its crypto settlement tools by adding support for more stablecoins and blockchain networks. This move reflects the growing use of stablecoins in global payments, especially among banks and large companies. The expansion comes shortly after the U.S. passed new federal rules for stablecoin regulation.

  • Visa now supports PYUSD, USDG, and EURC on Avalanche and Stellar, in addition to Ethereum and Solana.
  • The company says trusted, scalable stablecoins can improve the way money moves globally.
  • The update follows the GENIUS Act, which created the first U.S. framework for stablecoin use and oversight.

Visa first got involved with stablecoins in 2021, starting with support for USDC on Ethereum. Since then, it has rolled out more features, including partnerships for stablecoin-linked cards in Latin America. With clear regulation now in place, Visa is positioning itself to play a bigger role in crypto payments.

BitMine Acquires Over 833K ETH, Surging to Third-Largest Crypto Treasury

BitMine Immersion Technologies has made headlines after acquiring more than 833,000 ETH in just over a month. The company’s Ethereum holdings are now valued at over $2.9 billion, placing it ahead of SharpLink and behind only Strategy and Marathon Digital in total crypto treasuries. The move has drawn strong attention from institutional investors and the wider market.

  • BitMine’s ETH holdings jumped from zero to 833,137 in 35 days, now worth $2.9 billion.
  • Its stock (BMNR) saw $1.6 billion in daily trading volume and a 300% price increase.
  • Investors include Ark Invest and Bill Miller III, with interest growing ahead of ETH staking plans

BitMine’s fast accumulation of ETH and rising stock activity have caught Wall Street’s eye. The company has also shared plans to support ETH staking in the future.

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