Bitcoin Surges Above $108,000 Amid Mixed Crypto Trading and Key Developments in Washington
June 25, 2025 — Bitcoin’s price surged again on Wednesday, reaching an intraday high above $108,000 as investors appeared undeterred by recent tensions in the Middle East. Stock markets hovered near all-time highs, reflecting a generally upbeat sentiment despite geopolitical uncertainty. However, other major cryptocurrencies like ether and solana experienced modest declines during afternoon trading, resulting in an uneven performance across the crypto sector.
Federal Reserve Chair Jerome Powell Testifies on Crypto Industry Maturity
A spotlight was cast on Washington, D.C., as Federal Reserve Chair Jerome Powell addressed the Senate Banking Committee on Wednesday morning. Powell highlighted the growing maturity of the stablecoin sector, noting it has evolved significantly in recent years and is becoming a meaningful part of the mainstream financial system. His comments underscored the increasing integration of digital assets into traditional finance and the ongoing regulatory focus on this fast-developing space.
Crypto Could Soon Play a Big Role in Mortgage Qualification
In a notable development for the housing and crypto markets, William Pulte, director of the Federal Housing Finance Agency (FHFA) — whose family founded one of the nation’s largest homebuilders, Pulte Group — issued an order mandating Fannie Mae and Freddie Mac to study the potential for incorporating cryptocurrency holdings into mortgage qualification criteria. This move signals a possible future where crypto assets might be considered alongside traditional financial assets when individuals apply for home loans. It could open new pathways for crypto holders to leverage their digital wealth in real estate financing.
Senate Advances Legislation to Regulate Digital Assets
Following Tuesday’s introduction of a bipartisan bill aimed at establishing clearer guidelines for the cryptocurrency industry, Senator Cynthia Lummis, chair of the Senate Banking subcommittee on digital assets, spoke with CNBC’s “Squawk Box.” Lummis emphasized that the United States should take a leadership role in crafting crypto regulations, noting that some other countries have already implemented legal frameworks for digital assets. The proposed legislation, designed to bring regulatory clarity, is expected to be a key factor in the evolution of the U.S. crypto landscape.
NYSE Supports Trump-Backed Crypto ETF Proposal
Meanwhile, the New York Stock Exchange (NYSE) made waves by advocating for a rule change to enable the launch of a bitcoin and ethereum exchange-traded fund (ETF) linked to President Donald Trump’s Truth Social platform. If the Securities and Exchange Commission (SEC) approves this ETF within the next 90 days, it would represent a significant milestone for Trump’s ongoing efforts to engage with the digital asset market. The ETF would offer retail investors a new avenue to gain exposure to leading cryptocurrencies in a regulated vehicle.
Digital Asset CEO Discusses $135 Million Fundraising Round
In related news from the crypto investment world, CNBC Crypto World interviewed Yuval Rooz, CEO of Digital Asset, which recently closed a $135 million funding round supported by prominent financial institutions including Goldman Sachs and Citadel Securities. Rooz detailed plans on how the capital will be deployed to expand the company’s offerings and infrastructure, reinforcing investor confidence in innovative blockchain technologies.
Summary
- Bitcoin surged above $108,000 on Wednesday despite mixed crypto market performance.
- Fed Chair Powell testified on the stablecoin industry’s maturation before the Senate.
- FHFA ordered Fannie Mae and Freddie Mac to explore integrating cryptocurrency into mortgage qualifications.
- Senator Cynthia Lummis outlined new U.S. legislation to regulate digital assets.
- The NYSE pushed for approval of a Trump-affiliated bitcoin/ethereum ETF.
- Digital Asset secured $135 million in funding to advance blockchain initiatives.
These developments mark a pivotal moment in crypto adoption and regulation, reflecting a nuanced balance between innovation and oversight that could shape the future of digital finance and its intersection with traditional markets.
For ongoing coverage of cryptocurrency and financial markets, stay tuned to CNBC Crypto World.