What Happened in Crypto This Week – April 20, 2025

2025-04-20

It’s been another turbulent week in the world of crypto. If the markets feel like a roller coaster lately, that’s because they are—and this week was no exception.

Between Bitcoin price swings, a heated U.S.-China tariff clash, SEC drama, and high-profile hacks, the global crypto narrative continues to shift fast. Meanwhile, regulators are tightening their grip, meme coins are crashing, and gold is stealing the spotlight as a safe haven.

Whether you're a long-time crypto believer or just trying to keep up, here’s your friendly, no-jargon recap of what really happened in crypto this week.

A Mixed Market Mood: Where Bitcoin, Ethereum, and XRP Stand

The crypto market this week held firm with a total market cap at $2.7 trillion. Daily trading volume, however, saw a steep 21.43% drop to $43.09 billion—signaling caution among investors.

Bitcoin stayed resilient, trading at $85,300.
Ethereum hovered at $1,604.
XRP stood at $2.08.

But don’t let the calm exterior fool you—underneath, serious shifts are underway.

Top Headlines in Crypto This Week

U.S.-China Tariff War Sends Shockwaves

A new round of 245% tariffs on Chinese imports hit the headlines, triggering a 2% dip in Bitcoin and a 3.75% drop in the wider crypto market.

In contrast, gold soared to an all-time high of $3,300 as nervous investors fled to safer ground. This geopolitical tension continues to echo across both traditional and digital markets.

Bitcoin ETF Outflows Jump Over 300%

Institutional sentiment showed signs of stress. According to SoSo Value, Bitcoin ETFs saw outflows of $700 million—a 300% surge compared to the previous week.

Concerns about regulatory uncertainty and macroeconomic instability are shaking investor confidence.

Ripple vs. SEC: A Surprise Pause

The high-profile Ripple-SEC lawsuit took an unexpected turn as proceedings were paused for 60 days, hinting at possible settlement talks.

Meanwhile, Ripple made a big move by announcing the $1.25 billion acquisition of Hidden Road, marking its expansion in global finance.

SEC Shake-Up: Where’s Atkins?

Newly appointed SEC Chair Paul Atkins will be absent from the upcoming April 25 roundtable on crypto custody.

Stepping in is Acting Chair Mark Uyeda, with key industry players like Kraken and Fidelity still expected to attend. Speculation is swirling about internal SEC dynamics.

Regulatory Clampdowns & Legal Drama

Binance Demands KYC Re-Verification in India

Binance is tightening up its compliance game, requiring Indian users to re-verify KYC using their PAN cards in line with AML regulations. The move follows increasing scrutiny from Indian authorities.

South Korea Bans 14 Crypto Apps

In a dramatic crackdown, South Korea blocked 14 unregistered crypto apps, including popular platforms like KuCoin and MEXC. Officials plan to make enforcement a permanent feature of their digital asset policy.

WazirX Investors Left Hanging

India’s Supreme Court dismissed the petition from WazirX users seeking compensation after a ₹2,000 crore hack. The court advised them to approach SEBI and RBI for relief.

Crashes & Cautionary Tales

Mantra Token Tanks 90%

Mantra (OM)—a Real World Asset (RWA)-focused project—fell 90% this week due to alleged insider trading and forced liquidations. Lack of communication from the team only worsened investor sentiment.

Coinbase’s BASE Token Collapses Instantly

In what some called a rushed and chaotic launch, Coinbase’s BASE meme token plummeted 90% within minutes of trading. Critics accused the team of poor rollout planning and insider manipulation.

Global Crypto Trends

Slovenia to Introduce 25% Crypto Tax

Slovenia has proposed a 25% tax on crypto-to-fiat conversions beginning in 2026. While crypto-to-crypto trades are exempt, the move is expected to generate €25 million annually for the state.

Charles Schwab Eyes April 2026 for Spot Bitcoin Trading

Charles Schwab CEO Rick Wurster revealed plans to roll out spot Bitcoin trading for clients by April 2026. This is a major step forward as traditional finance inches deeper into crypto territory.

Big Ideas & Bold Statements

“Crypto Is Not Communism,” Says CoinFund Exec

CoinFund president Christopher Perkins took a strong stand against a new report from the Bank for International Settlements (BIS), calling it “uninformed and dangerous.”

Perkins argued that DeFi is “the new internet of finance” and warned against isolating crypto from traditional systems.

BIS Report Warns: Crypto May Destabilize Finance

The BIS report, released April 15, claimed that crypto and DeFi could destabilize the financial system and worsen inequality. The report raised eyebrows across the crypto industry for its aggressive tone.

This Week’s Biggest Hacks

KiloEx Loses $7M in Oracle Exploit

Cross-chain DEX KiloEx lost $7 million (Rp116.9 billion) in a coordinated exploit targeting oracles on BNB, Base, and Taiko chains. The platform suspended operations, and its KILO token crashed 30%.

UK Minister’s Social Media Hacked

British MP Lucy Powell’s X account was hijacked and used to promote a fake meme coin called “House of Commons Coin.” The breach highlights the rising threat of crypto scams.

Conclusion

From gold’s surge and Bitcoin’s ETF outflows to lawsuits, hacks, and tax reforms—what happened in crypto this week tells us one thing: the world of digital assets is deeply entangled with politics, finance, and global uncertainty.

Whether it's regulators stepping in, hackers breaking in, or traders cashing out, the crypto space is evolving fast. Stay informed, stay critical, and stay tuned for another wild week ahead.

FAQ

1. What happened in crypto this week?
This week, the crypto world saw Bitcoin price dips, ETF outflows, high-profile hacks, legal battles, and new regulations from countries like Slovenia and South Korea.

2. Why is Bitcoin down this week?
Bitcoin’s price dropped due to rising geopolitical tensions, particularly the U.S.-China tariff war, and concerns over regulation and stagflation.

3. What is the Ripple vs. SEC case update?
The lawsuit was paused for 60 days, sparking speculation of a possible settlement. Ripple also announced a $1.25 billion acquisition during this time.

4. What are the top crypto hacks this week?
KiloEx lost $7M in a cross-chain exploit, and UK MP Lucy Powell’s X account was hacked to promote a scam coin.

Crypto

Disclaimer: The content of this article does not constitute financial or investment advice.

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