Author: Aaron Wood, CoinTelegraph; Compiler: Baishui, Golden Finance
Crypto service platform Nexo announced plans to return to the US market on Monday, becoming the eighth major cryptocurrency company to announce such plans since US President Donald Trump took office at the beginning of this year.
Companies such as Circle, Binance and OKX are pinning their hopes on regulatory clarity in 2025 to herald their expansion in the United States. Bills such as the STABLE Act and the GENIUS Act are advancing in Congress and, if enacted, would lay the foundation for Nexo's rapid success.
Trump and his family are actively involved in some of these expansion plans. Nexo's recent announcement was supported by Donald Trump Jr., who said: "We see opportunities in the financial industry and want to make sure we bring them back to the United States."
With the Trump family's conflicts of interest and blatant token promotion, it remains to be seen whether these upcoming regulations will adequately protect ordinary investors. Regardless, these eight companies have made a killing in the U.S. this year.
Less than a month after Trump took office as president, Binance.US officially resumed USD deposits and withdrawals.
The service was suspended on June 13, 2023, after the U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action alleging that Binance willfully circumvented U.S. law and operated illegally in the U.S. Binance later settled for $2.7 billion; then-CEO Changpeng Zhao paid $150 million.
Soon after halting USD deposits and withdrawals, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance and its then-CEO Changpeng Zhao. The agency claimed that Changpeng Zhao and Binance were "involved in extensive fraud, conflicts of interest, inadequate disclosures, and deliberate evasion of the law."
In November 2023, Binance and Changpeng Zhao reached a settlement with the U.S. Department of Justice that included pleading guilty to federal charges, including anti-money laundering violations, and a $4.3 billion fine, the removal of Changpeng Zhao from his position as CEO, and imprisonment.
Changpeng Zhao has sought a pardon from President Trump, who has previously pardoned several cryptocurrency executives.
Online trading platform eToro has publicly filed its registration statement for its proposed initial public offering (IPO) on the Nasdaq Global Select Market under the ticker symbol "ETOR". The IPO is expected to take place in the second quarter of 2025, depending on market conditions. eToro is seeking a $4 billion valuation and plans to raise $500 million by issuing 10 million Class A shares.
The trading platform had some trouble with the U.S. Securities and Exchange Commission (SEC) in 2024, when the agency claimed that eToro "operated an unregistered broker-dealer and unregistered clearing organization on its trading platform, which facilitated the buying and selling of certain crypto assets as securities".
As a result, eToro paid a fine and agreed to reduce its cryptocurrency offerings for U.S. customers to Bitcoin, Bitcoin Cash, and Ethereum.
The move shows that investors are increasingly confident about the future of retail cryptocurrency trading platforms in the United States as U.S. jurisdictions readjust their rules on defining cryptocurrencies and relax restrictions, making it more difficult for such platforms to obtain banking services.
OKX, a major global cryptocurrency exchange, has announced that it will return to the U.S. market in April 2025. The company is implementing a phased rollout plan throughout the year and has established a new regional headquarters in San Jose, California. The company has also appointed Roshan Robert, who recently left Barclays, as head of its US operations.
Just a few months ago, the company announced a settlement with the US Department of Justice (DOJ). US prosecutors accused the platform of "willfully violating anti-money laundering laws and evading enforcement of policies necessary to prevent criminals from abusing our financial system" for more than seven years.
OKX paid a massive $500 million fine, admitted to operating a remittance business without a license, and agreed to hire an external compliance consultant. “There are no allegations of customer harm in the settlement, no charges against any company employees, and no government-appointed monitor,” OKX said in a statement.
Robert told Fortune that the company is strengthening its compliance and risk management infrastructure to prepare for the restart.
He also pointed to an improved regulatory environment as a driver for the restart. “Rulemaking takes some time, but we can see a viable path,” he said.
Nexo, a global digital asset wealth platform, announced its return to the U.S. market at an event in Sofia, Bulgaria, on April 28, 2025. U.S. customers will have access to Nexo’s asset-backed credit lines, cryptocurrency savings accounts, and advanced trading options, according to industry media reports.
Nexo exited the U.S. market in 2022 after an 18-month-long negotiation with federal regulators reached an impasse. Previously, regulators in eight states accused Nexo of failing to register its Earn Interest Product.
Nexo co-founder Antoni Trenchev attributed the company’s resurgence to President Trump’s crypto-friendly stance: “America is back — and so is Nexo.”
“Nexo is coming back to America — stronger, smarter, and more determined to win,” he added.
Circle, the issuer of the stablecoin USDC (USDC), will move its global headquarters from Boston to New York City in early 2025. The move to One World Trade Center is in line with Circle’s plans for an initial public offering (IPO) and reflects its commitment to integrating into traditional financial markets.
Circle filed for an IPO on April 1, planning to list on the New York Stock Exchange. JPMorgan Chase and Citigroup are the lead underwriters. The company is seeking a valuation of $5 billion.
“Our new headquarters, located near the top of One World Trade Center, symbolizes the trust, security and stability we are building as a provider of critical infrastructure for the future of finance,” said Circle CEO Jeremy Allaire.
Circle originally planned to go public in 2022 through a blank check company, but the deal fell through. At the time, the deal valued Circle at $9 billion.
Crypto.com plans to expand its services in the United States throughout 2025, including the launch of stock and ETF trading.
As part of its 2025 roadmap, the company will launch these services in phases, including significantly expanding banking, cryptocurrency, stock and credit card services for U.S. customers.
The plan demonstrates the company’s broader strategy to combine cryptocurrency with traditional finance, a recurring theme for many cryptocurrency and financial companies operating in the United States.
Travis McGhee, managing director and global head of capital markets at Crypto.com, said the company is enabling clients to “combine [stock and ETF trading] capabilities with cryptocurrency trading and crypto derivatives trading.”
McGhee added that “there are a lot of favorable factors” driving the industry forward, including “governments looking at regulatory frameworks.”
“This bodes well for strong markets and a bright future for crypto.”
Andreessen Horowitz (a16z) has announced that it will close its U.K. branch and shift its focus to the U.S. market.
Anthony Albanese, COO of Andreessen Horowitz’s cryptocurrency division, said in a Jan. 24 X post that the company will close its U.K. branch despite the country’s “enthusiasm for building and using cryptocurrencies.”
The British government spent five years persuading a16z to move to London, but the company left just 18 months after opening an office there, Sifted reported.
a16z opened an office in London in 2023, citing the regulatory environment under former President Joe Biden as too unfriendly to the blockchain industry. Albanese said the cryptocurrency industry had seen "strong momentum" following President Trump's inauguration.
Other factors that prompted a16z to relocate included the slow progress of the UK cryptocurrency sector and the Labour government's shift in focus away from digital assets, TechCrunch reported.
U.S. cryptocurrency exchange Coinbase acquired cryptocurrency derivatives platform Deribit for $2.9 billion on May 8.
The merger makes Coinbase the largest cryptocurrency derivatives platform by open interest, according to a Coinbase blog post.
The deal comes as major cryptocurrency exchanges such as Coinbase, Kraken and Robinhood scramble to capture the growing global cryptocurrency derivatives market. On the day of the announcement, Coinbase's international derivatives exchange had reached $10 billion in trading volume.
Shanghai Anxun Information Company's internal leak on GitHub exposed illegal cybersecurity services, infiltrating government departments globally, and selling sensitive information, sparking calls for industry regulation.
KikyoDigital Currency Group disputes Genesis' settlement with NYAG over fraud charges, arguing it unfairly prioritizes certain creditors, challenging legal and regulatory norms in the crypto industry.
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MiyukiLejilex and CFAT sue the SEC for overstepping in crypto regulation, seeking clear rules and challenging the classification of digital assets as securities, invoking the major questions doctrine.
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MiyukiWorldcoin's WLD currency surged 300% in February, leading an AI cryptocurrency boom alongside stocks like Nvidia, reflecting growing interest in AI's potential to redefine the financial landscape.
BrianCrypto scam cases in Hong Kong rose by 170% in a year, prompting the Securities and Futures Commission to demand licensing applications from exchanges like OKX and Bybit to combat fraud and secure investor trust. As regulatory pressure mounts, the approval of reputable exchanges is crucial for Hong Kong's crypto market to thrive and establish itself as a trusted digital asset hub.
WeatherlyReddit and Google have joined forces in a $60 million partnership, allowing Google to use Reddit's discussions to enhance AI models, while Reddit gains access to Google's AI for platform improvement. Despite the collaboration's potential benefits, ensuring the reliability of Reddit-sourced data is crucial for maintaining integrity and advancing technology responsibly.
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