Russia’s crypto holdings have surpassed $25.4 billion

Russia’s crypto asset holdings have reportedly blown past 2 trillion rubles, worth more than $25.4 billion, by June 2025, according to Vasily Girya, CEO of GIS Mining, while speaking at the St. Petersburg International Economic Forum (SPIEF 2025).

Russian companies are making large mining orders. This means more capital is flowing straight into the infrastructure of crypto. The money’s being directed into large-scale mining, not simple retail setups.

This SPIEF 2025 ran from June 18 to 21 in St. Petersburg, and this year’s theme was “Shared Values: The Foundation of Growth in a Multipolar World”, clearly designed to push Russia’s global narrative. The forum also ran multiple sessions. There was the SME Forum, where small and medium businesses got the floor, and the Creative Industries Forum, built to support artists and media startups. Youth and future development had their own slot with the Day of the Future International Youth Economic Forum.

On the policy side, there was the Drug Security Forum and the Roscongress Urban Hub, a place for cities and planners to talk policy and development. Outside of panels, there were events like the Petersburg Seasons festival and the SPIEF Sports Games to pad the cultural program.

The Roscongress Foundation put the whole thing together, while TASS handled the information logistics.

Putin and Zakharova warn of Western conflict and economic targeting

Meanwhile, during one of the forum’s headline sessions, President Vladimir Putin said that Russia’s economy is still rising, no matter the sanctions. He said the country now ranks fourth in the world by GDP, and it’s number one in Europe. “Russia is already ranking fourth in the world in terms of gross domestic product. And it is Europe’s first. These are very significant indices,” Vladimir told the SPIEF crowd.

The discussion turned global when Putin was asked about the rising conflict risks in the world. The moderator brought up the recent 80th anniversary of World War II, asking if another global war seemed likely.

“It worries me,” Putin said. “I am speaking without any sarcasm, without joking, of course, there is a lot of conflict potential, it is growing.” He pointed directly to Ukraine and the Middle East, saying the problems are happening “right under our noses.”

Elsewhere at the forum, Maria Zakharova, the Foreign Ministry’s spokeswoman, said the real aim of Western economic aggression wasn’t just Russia, it was the European Union. “I am sure that one of the goals of this hybrid warfare is not only Russia, but also the countries of the European Union,” Maria said. “The EU has grown too strong, and the euro is too secure. The euro is secure; the dollar is not. It was necessary to influence it somehow.”

“Many EU countries are on the verge of recession. You can see their economic growth rates, which are the most important indicator for them. They don’t even hide them,” she added. She also pointed to Asia’s economic rise, saying Western nations are falling behind and won’t catch up.

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