The world of blockchain and digital assets continues to evolve at a rapid pace, with major developments across exchanges, stablecoins, enterprise applications, and regulatory landscapes. From legacy financial institutions integrating distributed ledger technology to governments adopting blockchain for public infrastructure, the ecosystem is maturing in both depth and real-world impact. This article explores the latest key movements shaping the industry in mid-2025 — from Cboe’s exit from Bitcoin futures to Tether’s latest USDT issuance, and beyond.
Chicago Options Exchange Ends Bitcoin Futures Era
The Chicago Options Exchange (Cboe), once a pioneer in institutional crypto derivatives, will officially cease Bitcoin futures trading on June 19, 2025. The final contract settlement marks the end of a significant chapter in crypto finance history.
Launched in December 2017, Cboe’s Bitcoin futures were the first U.S.-regulated exchange-traded Bitcoin derivative, symbolizing early institutional interest. However, despite its trailblazing status, the product failed to gain long-term traction against competitors like CME Group, which now dominates the regulated crypto derivatives market.
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This move reflects shifting dynamics in market demand and competitive positioning. With liquidity increasingly concentrated on platforms offering broader product suites — including options, perpetual swaps, and tokenized assets — legacy futures-only models face obsolescence.
Nonetheless, Cboe’s role in legitimizing crypto as an asset class remains pivotal. Its early adoption helped pave the way for ETF approvals and broader financial integration seen today.
Tether Expands USDT Supply on Ethereum
In a notable issuance event, Tether has minted an additional 150 million USDT on the Ethereum network. The transaction occurred at block height 7,936,931, bringing the total ERC-20 USDT supply to over 800 million tokens.
Stablecoins like USDT are critical infrastructure in the digital economy, serving as bridges between fiat and decentralized finance (DeFi). Ethereum remains the dominant network for USDT circulation due to its wide integration across wallets, exchanges, and lending protocols.
This increase signals sustained demand for dollar-pegged assets, particularly amid growing DeFi activity and cross-border remittance use cases. Analysts suggest such issuances often precede heightened trading volume or liquidity provisioning needs.
Why This Matters:
- Liquidity Support: New USDT supplies enhance market depth across trading pairs.
- DeFi Integration: More USDT enables greater participation in yield-generating protocols.
- Transparency: On-chain tracking via platforms like PeckShield ensures visibility into issuance patterns.
As regulatory scrutiny increases globally, transparent and audited stablecoin operations become even more essential for trust and compliance.
Visa Leverages DLT for B2B Cross-Border Payments
Global payments giant Visa has expanded its B2B Connect network, now serving 30 enterprises with near-instant international payment capabilities. The system leverages Distributed Ledger Technology (DLT) to bypass traditional correspondent banking bottlenecks.
Conventional cross-border payments can take days due to intermediary banks and reconciliation delays. Visa’s DLT-powered solution reduces settlement times to minutes while improving traceability and reducing fraud risks.
This development underscores a growing trend: enterprise adoption of blockchain-inspired infrastructure, even when not fully public or decentralized. Financial institutions are increasingly embracing permissioned ledgers for efficiency gains without sacrificing control.
Lightning Labs Unveils Watchtowers Upgrade
Lightning Labs is preparing to roll out a major enhancement to the Bitcoin Lightning Network: Watchtowers.
First conceptualized in the 2015 Lightning Network whitepaper, Watchtowers act as third-party monitors that protect users against channel fraud. If one party attempts to broadcast an outdated transaction to steal funds, the Watchtower detects the breach and submits a penalty transaction to reclaim assets.
This upgrade significantly improves security for mobile and offline users who cannot constantly monitor their channels. It brings enterprise-grade resilience to micropayment networks and paves the way for broader consumer adoption.
With scalability and security advancing in tandem, the Lightning Network is becoming a viable layer for global instant payments — aligning with Bitcoin’s original peer-to-peer vision.
Blockchain Powers Public Governance in China
Shenzhen Launches Blockchain Voting System for P2P Exit Processes
Shenzhen has launched a blockchain-based voting platform for P2P lending platforms undergoing orderly withdrawal. Developed in collaboration with the Shenzhen Internet Finance Association, the system addresses transparency and fairness challenges during platform wind-downs.
Key features include:
- Facial recognition for identity verification
- Immutable vote recording via blockchain
- AI-powered voice calling for participant notifications
- On-chain evidence storage for audits
The system ensures that only verified investors can vote, preventing ballot stuffing and enhancing trust in outcomes. A pilot program in Futian District successfully completed its first major decision vote in June 2025.
Xiong’an Uses Blockchain for Park Project Fund Management
In another public-sector application, the Xiong’an New Area has mandated the use of a blockchain fund management platform for the Yuèróng Park construction project.
All financial flows — from contractor payments to budget allocations — will be recorded on-chain. Additionally, Building Information Modeling (BIM) data must integrate with the city’s CIM (City Information Model) platform using blockchain-backed verification.
These initiatives highlight how governments are leveraging blockchain not just for financial innovation, but for transparent governance, anti-corruption measures, and smart city development.
Forbes China Names Top Innovators: Two Blockchain Firms Recognized
At the 2025 Forbes China Innovation Summit in Chengdu, two blockchain companies were honored among the 50 Most Innovative Enterprises in China: Bubi Blockchain and Qulian Technology.
Both firms specialize in enterprise-grade blockchain solutions:
- Bubi focuses on financial consortium chains and regulatory tech.
- Qulian provides blockchain infrastructure for government and supply chain applications.
Their inclusion reflects growing recognition of blockchain’s role beyond speculation — as a foundational tool for digital transformation.
Funding Momentum Builds in Crypto Infrastructure
Fireblocks Secures $16M in Series A with Fidelity Backing
Fireblocks, a platform securing digital asset transfers across exchanges, custodians, and wallets, has raised $16 million in Series A funding. Investors include Eight Roads (Fidelity International’s venture arm), Cyberstarts, and Tenaya Capital.
The platform uses secure multi-party computation (MPC) to eliminate private key exposure during transactions. Major clients like Galaxy Digital and Genesis have adopted it to safeguard assets moving between hot wallets, OTC desks, and cold storage.
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Most Caffeine Ltd Raises $50M for Middle East Expansion
Dubai-based Most Caffeine Ltd, developer of the ABS Chain, secured $50 million from a Saudi investment firm. The capital will drive expansion into the Middle East, delivering data security solutions across Gulf Cooperation Council (GCC) countries.
The partnership aims to support digital transformation in sectors including healthcare, logistics, and government services using permissioned blockchain networks.
Industry Leaders Speak Out
孙宇晨: Bridging Crypto and Traditional Finance
TRON founder Justin Sun commented on his upcoming meeting with Warren Buffett, stating:
“Convincing Buffett to buy cryptocurrency within three hours may be unrealistic. But we want to show him the progress of blockchain technology — not just for TRON, but for the entire industry.”
Sun views the event as symbolic — a chance to foster dialogue between decentralized innovators and legacy financial leaders.
Zilliqa Denies Facebook Collaboration Rumors
The Zilliqa team has firmly denied rumors of collaborating with Facebook on its stablecoin project:
“We have never engaged in any discussions or partnerships with Facebook regarding their digital currency initiatives.”
The clarification comes amid renewed speculation about major tech firms entering the stablecoin space.
Frequently Asked Questions (FAQ)
Q: Why is Cboe shutting down Bitcoin futures?
A: Low liquidity compared to competitors like CME, combined with shifting strategic priorities, led to the discontinuation. Institutional demand has moved toward more flexible products like options and ETFs.
Q: Is Tether’s USDT issuance safe and transparent?
A: While Tether has improved transparency with regular attestations and on-chain tracking tools like those from PeckShield, concerns remain about full reserves. However, its widespread use suggests market confidence persists.
Q: How do Lightning Network Watchtowers work?
A: They monitor payment channels on behalf of users. If someone tries to cheat by broadcasting an old state, the Watchtower automatically penalizes them by submitting a corrective transaction.
Q: Can blockchain really improve government services?
A: Yes. As seen in Shenzhen and Xiong’an, blockchain enhances transparency, reduces fraud, and automates compliance — making public processes more efficient and trustworthy.
Q: Are enterprise blockchains different from public ones?
A: Yes. Enterprise chains often prioritize privacy, performance, and regulatory compliance over decentralization. They’re typically permissioned, meaning only authorized entities can participate.
Q: What makes Fireblocks’ security model unique?
A: It replaces traditional private key storage with MPC technology, ensuring keys are never fully assembled during transactions — drastically reducing attack surface.
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As blockchain transitions from theory to practice — across finance, governance, and global infrastructure — staying informed is crucial. These developments underscore a clear trend: the future of value transfer is digital, transparent, and increasingly decentralized.