Latest Crypto News & Market Updates

Citigroup CEO backs Clarity Act but warns stablecoin rewards could hurt banks

Citigroup CEO Jane Fraser has backed passage of the CLARITY Act while continuing to push for changes to its stablecoin reward rules, keeping the banking industrys main concern with the crypto bill alive ahead of a Senate procedural vote expected next month.　　SummaryCitigroup CEO Jane Fraser supports passing the CLARITY Act but wants changes to its stablecoin reward rules.Fraser warned that stablecoin rewards could pull deposits from banks and reduce their ability to provide credit.A Senate compromise would ban rewards for simply holding stablecoins while allowing incentives tied to payments and transactions.The stablecoin yield dispute remains a key issue between banks and crypto firms ahead of the Senate vote.　　Fraser told Fox Business on Thursday that Citigroup still wants lawmakers to improve parts of the legislation, but she supports getting a workable version through Congress because she believes the bill would benefit the financial system.　　“So, we have not given up on pushing to get some improvements made to the bill, but we would like to see a good bill go through,” Fraser said. “I think it would be excellent for the system.”　　Her support puts Citigroup in a less confrontational position than some other large banks, even as Fraser shares their concern over

08-14Industry

XRP Price Tests $1 as Ripple Wallet Moves 50M Tokens

A Ripple-linked wallet moved 50 million XRP, worth more than $50 million at the time, to an internal subwallet on August 13. The movement came as XRP closed near $1.00, its lowest daily close since November 2024, while aggregate derivatives open interest climbed toward $986.48 million.　　Transaction data showed that the Ripple (50) wallet first transferred the XRP to raRVLN1, an internal subwallet. The subsequent movements drew attention because XRP was trading near a key support area while derivatives data showed traders leaning heavily toward long positions.　　Ripple Wallet Activity Routes XRP Toward Binance　　The raRVLN1 subwallet later distributed XRP, primarily in batches of 1 million tokens per transaction, to the rBNCyN address, which XRPScan data ties to Binance. Ripple-linked wallets sent a combined 23 million XRP to the rBNCyN wallet during the week, after which the tokens were moved on to Binance.　　The activity likely reflects an operational liquidity wallet used for on-demand liquidity or market-making purposes. The transfer trail shows movement between related wallets and toward a Binance-linked address, but the on-chain data does not by itself establish the purpose of every transfer.　　Source: Whale Alert　　Active addresses on the XRP Ledger averaged about 35,700 per day in August, up from roughly 26,400 in

08-14Industry

Trump family's World Liberty Financial delay plans to sell Maldives resort token

SummaryWorld Liberty Financial, the cryptocurrency project backed by the Trump family, delayed plans to sell a token related to a resort in the Maldives.The tokens sale has been pushed back due to the Iran war disrupting travel in the region.The venture is part World Liberty Financials plans in tokenization, the representation of RWAs on blockchains in token form. WLFI is exploring this concept not just in real estate, but in commodities like oil and gas.　　World Liberty Financial, the cryptocurrency project backed by the Trump family, delayed plans to sell a token related to a resort in the Maldives, Bloomberg reported on Friday.　　The token was planned to go on sale next year, giving investors a share of revenue from loans financing the Trump-branded resort, but this has been pushed back due to the Iran war disrupting travel in the region, according to the report, citing people familiar with the matter.　　World Liberty Financial tapped real-world asset (RWAs) platform Securitize in February to help represent loan interests tied to the resorts development as a digital token that could be traded onchain.　　It is unclear when the token will now be listed.　　The venture is part World Liberty Financials plans in tokenization, the representation of RWAs

08-14Industry

Bitcoin slips as U.S. inflation fails to spark gains, ETFs see August's first two-day drawdown

SummarySpot bitcoin ETFs saw $192 million in back-to-back outflows as bitcoin fell to its lowest level since Aug. 3.While U.S. stocks gained after cooler-than-expected producer price data, crypto markets lagged, with bitcoin and ether slipping even as some altcoins outperformed.Derivatives and funding data show growing bearish positioning in tokens like bitcoin cash and hedera. Bitcoin volatility eased and options flows remain mixed.　　Bitcoin dropped below $63,000, losing 1.14% since midnight UTC as a second day of outflows from spot exchange-traded funds and a lack of bullish catalysts weighed on the crypto market.　　Spot bitcoin ETFs experienced the first back-to-back days of outflows since late July with $192 million exiting the products, according to SoSoValue.　　The largest cryptocurrency is now trading at its lowest point since Aug. 3 having wiped out all of last weeks rally. Ether is down by 0.73% since midnight, while a portion of the altcoin market continues to show resilience, outperforming crypto majors.　　U.S. equities were boosted on Thursday by producer price inflation data, which cooled to 4.7%, below forecasts. The Ss 24-hour CVD is the most negative among the top 25 coins, with funding rates around -20%, pointing to a market clearly dominated by bears. More broadly, all the top

08-14Industry

Bitcoin keeps traders guessing near $64K as stocks gain on cool US PPI data

Bitcoin (BTC) edged away from weekly lows on Thursday after the US Producer Price Index (PPI) narrowly cooled in July.　　Key points:Bitcoin avoids further downside as US PPI data provides a boost to US equities.Cleveland Fed president stays hawkish on the outlook for interest-rate policy.Bitcoin long liquidations make $61,000 a key level to watch.　　July PPI extends cooler US inflation trend　　BTC/USD was up around 0.5% on the day near $63,900 with volatility broadly absent, data from TradingView showed.　　BTC/USD one-hour chart. Source: Cointelegraph/TradingView　　The July US Producer Price Index (PPI) print was unchanged month-on-month at 0.2%, while year-on-year increased 4.7% versus an anticipated 4.9%, per data from the Bureau of Labor Statistics (BLS).　　“In July, a 0.2-percent increase in the index for final demand services and a 2.2-percent advance in prices for final demand construction offset a 0.7-percent decrease in the index for final demand goods,” the BLS release said.　　“Falling gasoline and energy prices provided the biggest relief,” Econoday analysts highlighted.　　US PPI one-month % change. Source: BLS　　US stocks gained at the Wall Street open as PPI further cooled market bets on interest-rate hikes from Federal Reserve policymakers. The S&P 500 index and tech-heavy Nasdaq Composite index were up 0.87% and 0.94%, respectively, at the time

08-14Industry

Bitcoin Eyes New August Lows as Binance Longs Face a ‘Cleanout’

Bitcoin (BTC) long positions are “facing liquidation” as volatility shows signs that a range breakout is finally coming.　　Key points:Bitcoin long positions face multiple threats as BTC price action heads toward new August lows, analyst warns.The correlation between Binance open interest and price reached 0.25 on Thursday as both fell.The Bitcoin bull market is not ready to make a comeback, CryptoQuant CEO Ki Young Ju says.　　Bitcoin longs feel the squeeze as price drops　　Insights published on onchain analytics platform CryptoQuant by community analyst “BorisD” on Thursday suggest that leveraged long BTC positions are being flushed out as BTC/USD targets month-to-date lows.BTC/USD one-hour chart. Source: Cointelegraph/TradingView　　The analysis focuses on the relationship between price and open interest (OI) on Binance. OI represents total active derivative positions, both long and short, and reflects capital commitment in a given market.　　While price has traded in a narrow range since June, CryptoQuant data show that Binance OI has gradually increased, reaching $8.15 billion on Wednesday as futures increasingly steer the market while spot traders sit on the sidelines.Bitcoin open interest on Binance. Source: CryptoQuant　　With price now seeing downside volatility on lower time frames, the correlation between price and OI has entered a state of flux, potentially squeezing long

08-14Industry

RedotPay US IPO delayed as $473M Binance lawsuit adds pressure

RedotPay has reportedly delayed a planned US initial public offering that could raise more than $1 billion as the Hong Kong stablecoin payments company works through regulatory approvals and legal disputes while preparing to enter the US market.　　Bloomberg reported on Aug. 14, citing people familiar with the matter, that RedotPay had pushed back its listing plans as the company seeks regulatory approvals and deals with legal disputes involving Binance.　　A spokesperson for RedotPay declined to comment on the timing of the IPO when contacted by crypto.news, but said the company had secured a US money transmitter license this week and was preparing to launch its products in the country.　　“Our strategy continues to focus on global regulatory compliance and business growth,” the spokesperson said. “This week, we obtained a money transmitter license in the US. We are preparing to launch our product in the US.”　　The spokesperson also said RedotPay reported record users, revenue, profit and margins in its Q2 2026 investor update, without providing figures for the period.　　RedotPay IPO plans have faced a delay　　RedotPays potential US listing first emerged in February, when the company was reported to be considering a New York IPO that could raise more than $1 billion and value

08-14Industry

SEC Shelves Crypto Rule Meeting Days After Senate Punted Clarity Act

In briefThe SEC has canceled Fridays meeting, at which commissioners were to vote on proposing a tailored offering regime for crypto assets.A spokesperson cited “an unforeseen scheduling issue,” with no replacement date announced.It would have been the agencys first crypto-specific rulemaking, and followed the Senate leaving for recess without advancing the Clarity Act.　　The Securities and Exchange Commission has called off an open meeting scheduled for Friday morning at which its three commissioners were to vote on proposing the agencys first crypto-specific rules, Reuters reported on Thursday.　　The formal notice, issued under the Sunshine Act and signed by SEC secretary Vanessa Countryman, records only that the meeting “has been cancelled,” making no mention of a new date. A spokesperson separately told reporters the session would move to a later date “due to an unforeseen scheduling issue,” without elaborating.　　The commission had dated its original notice August 10, giving roughly three business days warning, with a single item on the agenda.　　The commissioners had been due to decide whether to publish for comment a set of exemptions letting crypto startups raise capital without complying with traditional securities offering rules, an escape hatch from registration that founders have sought for years. A vote would not have

08-14Industry

RedotPay said to put $1 billion U.S. IPO plan on hold: Bloomberg

SummaryStablecoin payments firm RedotPay postponed its planned $1 billion U.S. IPO, which is now unlikely to occur before 2027, as it addresses legal issues.The Hong Kong-based company, which recently obtained a U.S. money transmitter license and is preparing a U.S. product launch, declined to comment on its IPO plans.RedotPay, which calls itself the worlds largest stablecoin payment card issuer and recently reached unicorn status, is facing a $470 million lawsuit from Binance over allegedly poaching hundreds of thousands of users.　　Stablecoin payments company RedotPay delayed a planned $1 billion U.S. IPO to deal with legal issues, Bloomberg reported Friday, citing people familiar with the decision.　　The listing, initially planned for this year, is unlikely to take place before 2027, the people told the financial news organization.　　“Our strategy continues to focus on global regulatory compliance and business growth,” a RedotPay spokesperson told CoinDesk via Telegram. This week we obtained a money transmitter license in the U.S. We are preparing to launch our product in the U.S.　　The spokesperson declined to comment on the IPO plan, which emerged in February. Hong Kong-based RedotPay is said to have tapped JPMorgan, Goldman Sachs and Jeffries for the potential listing.　　RedotPay, which describes itself as the worlds largest stablecoin

08-14Industry

Shytoshi Kusama's Litecoin Connection？ SHIB Veteran Gives Take

There is speculation about a possible connection between pseudonymous Shiba Inu lead ambassador Shytoshi Kusama and Litecoin founder Charlie Lee.　　An X user had asked if Charlie Lee was Shytoshi Kusama. This claim remains unestablished, with no verified evidence showing that Lee and Kusama are the same person. However, the question prompted a response from long-time SHIB community member and Shiba Eternity advisor Mazrael.　　“Could be he chatted with Litecoin that one time,” Mazrael answered. This does not confirm that Charlie Lee is Shytoshi Kusama but suggests that Kusama may have interacted with Litecoin at some point. The latter might be the case given Kusamas past interactions with Litecoin on X.　　In November 2024, Kusama made a post directed to Litecoin, which had jokingly referred to itself as a meme-themed coin, primarily a stick figure with the letter L as its head, attracting the attention of the Shiba Inu lead ambassador. Kusama responded that “he was not looking to get into beef with Litecoin.”　　Tracking Market News　　This simple fact might suggest no connection between Litecoin and Shytoshi Kusama. Charlie Lee, a former Google engineer, launched Litecoin in October 2011 as a source-code fork of Bitcoin.　　Shiba Inu mystery continues　　Kusama, a key figure in the Shiba

08-14Industry

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