The State of Crypto: The Future of Money Is Here
Originally published by Coinbase on June 10, 2025.
Coinbase's State of Crypto report argues that 2025 is the breakout year for stablecoins, now at the center of onchain utility and real-time global payments. It cites more than 161 million stablecoin holders, 54% year-over-year supply growth, and record organic monthly transfer volumes (US$719 billion in December 2024 and US$717 billion in April 2025, per Allium, excluding artificial and MEV-bot volume). A survey of Fortune 500 executives and SMBs found 81% of crypto-aware SMBs interested in using stablecoins and a more-than-3x jump in Fortune 500 stablecoin interest versus 2024, with regulatory clarity (the GENIUS Act) framed as the key unlock.