Ben McKenzie attends the "Everyone Is Lying to You for Money" screening during Doc NYC at the IFC Center on November 16, 2025 in New York City. TheStewartofNY/GC Images/Getty Images New York —

This was supposed to be the year cryptocurrency, a 16-year-old asset that promised to be the future of finance, came into its own.

The multi-trillion-dollar industry got just about everything on its wish list over the past year: a rush of new money from mainstream investors, industry-approved bipartisan legislation in Congress, a rubber-stamp regulatory apparatus , and, not least, the full-throated support of the president of the United States.

Despite that, crypto has had a rough ride , with bitcoin tumbling 30% from its peak in early October, a far steeper decline than the broad

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