Hotspots in the field of encryption in the second half of 2025 1. National/corporate Bitcoin strategic reserve continues to advance 2. More US stocks are being listed on the blockchain, and traditional finance and the cryptocurrency industry are beginning to merge 3. More countries reduce or waive cryptocurrency income tax 4. In September or December, the Federal Reserve will cut interest rates for the first time 5. More countries launch their own stablecoins to seize market share