Bitcoin 2025 brought together thousands of investors, builders, and believers for a showcase of crypto’s next chapter.
MacKenzie Sigalos
LAS VEGAS — At the world’s largest bitcoin conference this week on the Vegas Strip, the most consequential story wasn’t about bitcoin.
Stablecoins, the dollar-pegged digital tokens now driving a full-scale financial and political shift in Washington, stole the show.
The momentum behind stablecoin legislation and crypto market reform is accelerating — and it’s attracting a new kind of donor, investor, and voter. That shift took center stage at Bitcoin 2025 in Las Vegas.
Vice President JD Vance became the first sitting U.S. vice president to address the bitcoin community on Wednesday, delivering a full-throated endorsement of crypto.
“I think it’s wrong, actually, to call this just a conference,” Vance told a crowd of 35,000. “This is a movement. And I’m proud to stand with you.”
“In this administration, we do not think that stablecoins threaten the integrity of the U.S. dollar. Quite the opposite,” said Vance. “We view them as a force multiplier of our economic might.”
Stablecoins are designed to have a stable value against a non-crypto asset, usually the U.S. dollar.
“We’re streamlining payment rails for ensuring U.S. dollar global dominance for decades to come,” Bo Hines, a White House official heading up the president’s Digital Assets Council, told CNBC on the sidelines of Bitcoin 2025.
He added that stablecoin integration into the U.S. financial system could unlock trillions of dollars in global demand for American debt.
Those ambitions hinge on the passage of the GENIUS Act, a Senate bill that would establish the first comprehensive regulatory framework for stablecoin issuers.
Sen. Cynthia Lummis, R-Wyo., told the Bitcoin 2025 crowd that the bill would move to a cloture vote on Monday after weeks of negotiations with Democrats.
“We think we have a final deal,” Lummis said. “If we can get this passed, this will be the first piece of digital asset legislation to pass the U.S. Senate.”
On the House side, Republicans are racing to match that pace.
House Majority Whip Tom Emmer, R-Minn., praised Sen. Bill Hagerty, R-Tenn., for pushing a “calcified” Senate to act at record speed and said the House is determined to get both the stablecoin and broader market structure bills on President Donald Trump‘s desk before the August recess.
“The president promised this,” Emmer said. “We want it done now.”
Rep. Bryan Steil, R-Wisc., who chairs the House Subcommittee on Digital Assets, is leading efforts to advance companion legislation and expects the bill to reach the Financial Services Committee by July.
“Stablecoin issuers will be purchasing U.S. Treasuries at a period of time where that is incredibly essential,” Steil told CNBC in Vegas.“It enshrines the U.S. dollar in our dominant role as the world’s reserve currency.”
Tether — the largest stablecoin issuer in the world — now ranks among the top buyers of U.S. Treasuries globally.
Steil dismissed Democratic efforts to propose an amendment banning government officials from profiting off stablecoin ventures. The Trump family has ties to World Liberty Financial and its newly-launched stablecoin USD1.
Kraken CEO Dave Ripley, who has been advising lawmakers behind the scenes, called the legislation essential to bringing financial institutions — including consumer brokers and major banks — into the digital asset ecosystem.
But he cautioned that key provisions, including whether yield on stablecoins can be shared with users and how government officials may participate in the market, are still being debated.
“Crypto is all about individuals,” he said. “Let’s bring the value to them.”
Tether CEO Paolo Ardoino said commodity trading firms will be “the biggest driver” of stablecoin adoption in the next five years. He is already preparing for the next wave of competition as mainstream financial players begin launching their own digital dollars on the blockchain.
Ardoino, whose company controls more than 60% of the stablecoin market, emphasized that traditional financial firms entering the stablecoin space will be constrained by their reliance on high-fee customers.
“All the traditional financial firms will create stablecoins that will be offered to their existing customers,” he told CNBC.
According to The Wall Street Journal, major banks including JPMorgan, Bank of America and Citi are in early talks to issue a unified digital dollar to compete with Tether.
Tether, by contrast, is targeting the global majority excluded from banking.
“Many of our competitors say, ‘Oh, Tether is serving this niche of the unbanked,'” he said. “Half of the population of the world should not be called a niche.”
That global reach is one reason policymakers in Washington are moving fast.
Under Trump’s newly appointed regulatory team, momentum has shifted decisively.
The Securities and Exchange Commission, which has been long viewed as the industry’s top adversary, has begun dismantling its enforcement-first framework, clearing the way for greater institutional participation in crypto.
SEC Commissioner Hester Peirce said the change was long overdue.
“For many years now, I’ve been complaining about the fact that the commission has not taken proactive steps to provide clarity, and now finally, we’re at a place where we can do that,” she said.
Robinhood CEO Vlad Tenev, who has been meeting privately with the SEC, says tokenization — not just of dollars, but of public and private markets — is now within reach, even without new legislation.
“We’ve actually been engaging with the SEC crypto task force as well as the administration,” he told CNBC. “And it’s our belief, actually, that we don’t even need congressional action to make tokenization real. The SEC can just do it.”
Today was the official start of racing at the Electrek Formula Sun Grand Prix 2025! There was a tremendous energy (and heat) on the ground at NCM Motorsports Park as nearly a dozen teams took to the track. Currently, as of writing, Stanford is ranked #1 in the SOV (Single-Occupant Vehicle) class with 68 registered laps. However, the fastest lap so far belongs to UC Berkeley, which clocked a 4:45 on the 3.15-mile track. That’s an average speed of just under 40 mph on nothing but solar energy. Not bad!
In the MOV (Multi-Occupant Vehicle) class, Polytechnique Montréal is narrowly ahead of Appalachian State by just 4 laps. At last year’s formula sun race, Polytechnique Montréal took first place overall in this class, and the team hopes to repeat that success. It’s still too early for prediction though, and anything can happen between now and the final day of racing on Saturday.
Congrats to the teams that made it on track today. We look forward to seeing even more out there tomorrow. In the meantime, here are some shots from today via the event’s wonderful photographer Cora Kennedy.
You’re reading Electrek— experts who break news about Tesla, electric vehicles, and green energy, day after day. Be sure to check out our homepage for all the latest news, and follow Electrek on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our YouTube channel for the latest reviews.
The numbers are in and they are all bad for Tesla fans – the company sold just 5,000 Cybertruck models in Q4 of 2025, and built some 30% more “other” vehicles than it delivered. It just gets worse and worse, on today’s tension-building episode of Quick Charge!
We’ve also got day 1 coverage of the 2025 Electrek Formula Sun Grand Prix, reports that the Tesla Optimus program is in chaos after its chief engineer jumps ship, and a look ahead at the fresh new Hyundai IONIQ 2 set to bow early next year, thanks to some battery specs from the Kia EV2.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
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Tesla has launched its new Oasis Supercharger, the long-promised EV charging station of the future, with a solar farm and off-grid batteries.
Early in the deployment of the Supercharger network, Tesla promised to add solar arrays and batteries to the Supercharger stations, and CEO Elon Musk even said that most stations would be able to operate off-grid.
While Tesla did add solar and batteries to a few stations, the vast majority of them don’t have their own power system or have only minimal solar canopies.
Back in 2016, I asked Musk about this, and he said that it would now happen as Tesla had the “pieces now in place” with Supercharger V3, Powerpack V2, and SolarCity:
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All of these pieces have been in place for years, and Tesla has now discontinued the Powerpack in favor of the Megapack. The Supercharger network is also transitioning to V4 stations.
Yet, solar and battery deployment haven’t accelerated much in the decade since Musk made that comment, but it is finally happening.
Tesla has now unveiled the project and turned on most of the Supercharger stalls:
The project consists of 168 chargers, with half of them currently operational, making it one of the largest Supercharger stations in the world. However, that’s not even the most notable aspect of it.
The station is equipped with 11 MW of ground-mounted solar panels and canopies, spanning 30 acres of land, and 10 Tesla Megapacks with a total energy storage capacity of 39 MWh.
It can be operated off-grid, which is the case right now, according to Tesla.
With off-grid operations, Tesla was about to bring 84 stalls online just in time for the Fourth of July travel weekend. The rest of the stalls and a lounge are going to open later this year.
Electrek’s Take
This is awesome. A bit late, but awesome. This is what charging stations should be like: fully powered by renewable energy.
Unfortunately, it will be much harder to open those stations in the future due to legislation that Trump and the Republican Party have just passed, which removes incentives for solar and energy storage, adds taxes on them, and removes incentives to build batteries – all things that have helped Tesla considerably over the last few years.
The US is likely going to have a few tough years for EV adoption and renewable energy deployment.
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