PANews reported on July 17 that according to CryptoRank, the total financing of the crypto industry in the second quarter of 2025 exceeded US$10 billion, a three-year high. The new US government has introduced more friendly crypto policies to promote market activity. The proportion of late-stage financing has increased, IPOs, mergers and acquisitions and other transactions have occurred frequently, and the industry is moving towards maturity. Projects such as Securitize, Kalshi, World, and World Liberty Financial have received large amounts of financing. Circle was successfully listed, and its stock price rose more than 5 times, marking the further integration of the crypto industry and traditional finance. Analysts believe that with the continuous optimization of supervision, emerging tracks such as RWA and AI and traditional financial institutions are accelerating their entry, and high-quality projects will continue to be favored by capital.