Alex Harutunian

QR codes have emerged as a global interface for digital payments, gaining ground from Asia to the U.S. for their simplicity, low cost, and security. As countries move toward unified standards, the shape of money is shifting—from coins and cards to scannable squares.

The GBBC’s 2025 Handbook captures a new phase of blockchain adoption: from renegade roots to institutional alignment. With compliant infrastructure and regulated tokenization, blockchain is no longer an outsider—it’s becoming the backbone.

The U.S. Senate has passed the GENIUS Act, a sweeping bill to regulate dollar-backed stablecoins while promoting private-sector leadership in digital finance. Backed by the Trump administration, the bill now heads to the House—marking a pivotal moment in the future of digital dollars.

Cork Protocol offers a novel way to hedge depeg risks through tokenized derivatives like Depeg Swaps and Cover Tokens. The model drew attention across DeFi, though a recent $12M exploit revealed critical vulnerabilities in its implementation.

Pakistan has launched its first government-led Bitcoin reserve, following a rapid policy shift in early 2025. Backed by high-level advisors and U.S. crypto ties, the move mirrors growing global interest—despite warnings from the IMF and World Bank about volatility and financial stability risks.

Circle's IPO opens the door for public investors to benefit from stablecoin seigniorage for the first time. Unlike crypto miners or exchanges, Circle profits from monetary demand for USDC—a zero-interest asset backed by interest-bearing reserves—and now shares that upside through equity.

Sui's leading DEX, Cetus Protocol, was exploited for over $220M, exposing critical weaknesses in DeFi infrastructure. The network's response—freezing funds—helped limit damage but raised serious concerns about decentralization and the true immutability of blockchain protocols

TONSWAP is a new DEX and launchpad planned on the TON blockchain, aiming to fix poor UX and low liquidity in TON DeFi. With Telegram integration, $100M projected funding, and a meme-savvy brand, it positions itself as the ecosystem’s go-to trading hub with seamless access and deep liquidity.