Coinpedia Digest: This Week’s Crypto News Highlights | 20th September, 2025

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Crypto is pressing deeper into the mainstream – governments are weighing reserves, regulators are tightening rules, and giants from PayPal to Google are reshaping payments. Add in fresh ETF approvals and surging token treasuries, and it’s clear the industry is no longer waiting on the sidelines.

If you missed the headlines, here’s your quick catch-up.

#1 Fed Cuts Rates by 25bps, Bitcoin Holds Ground

The Federal Reserve (finally) cut interest rates by 25 basis points, its first move since December 2024, bringing the funds rate to 4%-4.25%. The decision came despite inflation stuck at 2.9%, as job creation was revised down by 911,000 and unemployment edged higher.

President Trump openly pressured Chair Jerome Powell, demanding cuts “bigger than [Powell] had in mind” and even threatening to fire him. Bitcoin barely moved, holding near $116,000, while traders looked to future cuts for bigger market impact.

#2 Native Markets Wins USDH Ticker

Native Markets has won the race to issue Hyperliquid’s new USDH stablecoin, securing over 70% of validator support. The decision followed a heated contest that drew big names like Paxos and Frax before several pulled out. USDH will be issued directly on Hyperliquid’s HyperEVM, with reserves split between BlackRock off-chain and Superstate on-chain.

Half of the yield will go to HYPE buybacks, the rest to ecosystem growth. For Hyperliquid, it’s a clear step toward stablecoin independence.

#3 Michigan Bitcoin Reserve Bill Finally Moves Forward

After months of silence, Michigan’s Bitcoin Reserve Bill (HB 4087) is back in motion. The proposal, introduced in February, would allow the state treasury to invest up to 10% of reserves in bitcoin and potentially other cryptocurrencies. The bill has now advanced to a second reading in the state House and been referred to the Government Operations Committee.