Weekly Cryptocurrency Roundup: Kyrgyzstan and Kazakhstan Create Bitcoin Reserves, Belarus Develops Crypto Infrastructure
Date: 2025-09-15 Author: Henry Casey Categories: IN WORLD
Bitcoin continued to strengthen and by the end of the week exceeded $116,500, but corrected to $115,500 over the weekend. Experts expect that the Fed meeting on September 16-17 could push the market up due to a likely reduction in the key rate, which traditionally supports risky assets, including cryptocurrencies. Over the week, BTC grew by 4.1%, while Dogecoin showed growth of 31.5%, and Solana - by 20.8%. Ethereum and XRP increased by 7.6% and 8.2%, respectively. The total market capitalization reached $4.15 trillion, and Bitcoin dominance decreased from 56.4% to 55.6%. The Alt Season Index rose from 53 to 66 points, and the Fear and Greed Index rose to 55, indicating “moderate greed” of participants.
In Kazakhstan, President Kassym-Jomart Tokayev announced the creation of a state digital asset fund to accumulate a strategic crypto reserve. The fund will operate on the basis of the National Bank's investment corporation. In addition, the authorities plan to invest up to $1 billion in high-tech industries, adopt a law on banks with the liberalization of digital assets, and launch the Al-Sana program to involve up to 100,000 students in AI and high-tech projects.
In Kyrgyzstan, the parliament approved the law "On Virtual Assets", which introduces the concepts of stablecoins and RWA tokens, and also creates a state bitcoin reserve and mining based on state infrastructure. The law provides for the registration of participants and compliance with technical requirements.
Cryptocurrency exchange Gemini has successfully completed an IPO on Nasdaq, raising $425 million. The company's shares under the ticker GEMI were trading above the expected range, and the capitalization at the debut session reached $3.8 billion. The Winklevoss brothers retained 94.5% of the voting rights, and the demand for shares exceeded the supply by 20 times.
Belarus continues to strengthen its position in the crypto sector. President Alexander Lukashenko called on banks to more actively use digital assets for external payments and define transparent regulatory rules. Experts note that the country has the advantages of early regulation and tax incentives, but faces restrictions for users, including a ban on P2P transactions.
Tether has introduced a new stablecoin USAT for the US market, fully backed by the dollar and compliant with the GENIUS Act. Anchorage Digital will be the issuer, and Cantor Fitzgerald will be the custodian.
The Undeads Games project reported that the UDS token TVL has exceeded $30 million, and the token value has grown more than 20 times since the beginning of the year. The gaming company is developing an MMORPG with Play-to-Earn mechanics in a post-apocalyptic setting with a release in October 2025.
