In 2025, crypto investors are looking at the top performers of the year. Incumbents like Robinhood, stablecoin companies, and prediction markets have stood out. Robinhood became more aggressive in the crypto space, while Tether proved to be the most profitable company per employee. Prediction markets like Kalshi and Polymarket have seen significant growth, with Polymarket receiving a $2 billion investment from the Intercontinental Exchange.

However, not everyone in the crypto space has had a successful year. Do Kwon, co-founder of Terraform Labs, was sentenced to 15 years in prison after the collapse of Terra erased $40 billion from the market. The US Securities and Exchange Commission under the Biden administration was also seen as a loser, with years of aggressive enforcement producing little lasting benefit. Policy changes in 2025 signaled a shift in the government’s approach towards crypto regulation.

Read more at Cointelegraph: VCs Pick Incumbents, Stablecoins as 2025 Crypto Winners