Crypto World
XRP Defends $1 by a Cent Since CLARITY Act Slipped. Now CFTC Steps In
XRP traded at $1.009 on Thursday. It has been pinned to that dollar line since the Senate skipped its CLARITY Act vote and left for recess.
That bill would write XRP’s legal status into federal law. Its next window opens when senators return in September. The Commodity Futures Trading Commission (CFTC) has signaled it will not wait.
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XRP Peaked the Day the House Passed the Bill
One date frames the whole story. XRP set its record high of $3.65 on July 17, 2025. The House passed the CLARITY Act that same day. The vote was 294 to 134, with every Republican in the chamber voting yes.
The XRP price now sits about 72% below that peak. It is down 2.9% over the past week and 8.7% over the past month.
The bill has crawled since. Senate Banking advanced it 15-9 in May. It still needs 60 votes on the floor, and senators went home in August without holding that vote.
Buyers have noticed. XRP ranks sixth by market value at $63.2 billion, yet spot ETF demand has stalled while larger tokens gained.
Why XRP Needs a Law, Not a Ruling
XRP’s legal footing comes from a courtroom, not Congress. Judge Analisa Torres ruled in July 2023 that XRP sold anonymously on exchanges was not an investment contract.
She also found Ripple’s direct sales to institutions broke registration rules. Ripple ended up paying a $125 million penalty.
Regulators went further this year. On March 17, the SEC and CFTC issued a joint interpretation sorting crypto into five categories, including digital commodities.
That document named no individual token. It also pointed straight back at Congress.
“complements Congressional efforts to codify a comprehensive crypto market structure framework into statute,” SEC and CFTC joint interpretation, March 17, 2026.
A ruling can be narrowed. An interpretation can be rewritten by the next commission. A statute is far harder to undo. That gap is what keeps cautious money away from XRP.
Ripple Already Has a Seat at the CFTC Table
The CFTC meets on August 20 in Washington. Its opening session starts at 1:30 p.m. ET under the title “Crypto’s Regulatory Evolution: From Uncertainty to Clarity.”
The agenda asks a narrow question. What can the agency fix using powers it already holds?
Ripple CEO Brad Garlinghouse sits on that committee. So do the chief executives of Coinbase, Nasdaq, and CME Group.
The SEC is moving in parallel. Commissioners vote Friday on proposed crypto offering rules for token fundraising.
Citing people familiar with the matter, Eleanor Terrett, host of the Crypto America podcast, reported Thursday that a separate tokenization exemption has slipped again. Negotiators are still arguing over that part of the bill.
Not everyone reads the delay as damage. Former CFTC Chairman Chris Giancarlo argues that innovation continues without legislation.
For XRP, the sum is simple. Agency rules can steady the market. Only a law can give institutions the certainty they have waited for since July 2025. Public comments on the CFTC meeting close on August 27.
The post XRP Defends $1 by a Cent Since CLARITY Act Slipped. Now CFTC Steps In appeared first on BeInCrypto.
Kalshi, which raised $1 billion in May at a $22 billion valuation, is now the number one prediction market platform by revenue, followed by Polymarket, which was last reported to be seeking funding at $20 billion, following a $600 million investment from the Intercontinental Exchange, the owner of the New York Stock Exchange, at a $15 billion valuation in August.
Kalshi’s annualized revenue increased to $4 billion in July, bolstered mostly by 2026 World Cup betting. Polymarket’s revenue was only $1.1 billion for that same period. Sequoia Capital recently said Kalshi “now claims 95% U.S. market share in prediction markets.”
Most of Kalshi’s revenue comes from sports contracts, which contribute to over 80% of its volume. Kalshi announced Wednesday that Jeff Bandman, the lawyer who helped Kalshi secure a license to be a CFTC-regulated exchange in 2020, is returning to Kalshi as CEO of Kalshi Prime, which serves customers of Kalshi’s margin perpetual futures business.
Neither Sequoia, Wellington nor Kalshi immediately responded to a CoinDesk request for confirmation.
The appointment comes as traditional wealth managers and family offices in Asia take a growing interest in digital assets. Boston Consulting Group estimates total assets under management in the region will reach $99 trillion by 2029, with Singapore and Hong Kong among its key financial centers. Globally, roughly one-third of family offices already have exposure to cryptocurrencies, according to Goldman Sachs.
Asia growth
Asia is increasingly where crypto’s retail scale and institutional ambitions collide. APAC was the world’s fastest-growing region for onchain activity in the year through June 2025, with transaction volume surging 69% to $2.36 trillion, according to Chainalysis.
India led its global adoption rankings, while Singapore and Hong Kong are competing to establish themselves as regulated digital-asset hubs, making the region an increasingly important battleground for firms courting traditional financial institutions and wealthy investors.
“Asia’s wealthiest families and managers are increasingly investing in digital assets,” Lai said in the press release. “B2C2 has the liquidity and execution infrastructure this client base needs.”
Lai’s appointment follows a series of hires by B2C2 in Asia under APAC CEO David Rogers, including Laura Teo as Singapore country head.
B2C2 is 90% owned by Japan’s SBI Holdings, and has become part of the financial group’s broader push into digital assets.
The White House will gather cryptocurrency and prediction market executives next Wednesday, according to three people familiar with the plans. The guest list remains unsettled, and traditional finance executives could also join.
The timing matters. Regulators convene many of the same executives 24 hours later. That hands Washington two straight days of contact with the industries pushing for new federal rules.
What the White House Crypto Summit Signals
President Donald Trump has aligned his administration with digital assets since returning to office last year. His regulators have opened doors to prediction market operators as well.
Neither the attendee list nor Trump’s own participation has been confirmed, Politico reported. The White House has not commented publicly on the plans.
Prediction markets let users trade contracts on the outcome of real events. They have moved from the margins of financial regulation toward its center.
Scrutiny has followed. New York City lawmakers opened an investigation into prediction markets this week over how the platforms advertise to residents.
CFTC Panel Convenes 35 Executives a Day Later
The Commodity Futures Trading Commission (CFTC) supervises US derivatives markets. It holds the first meeting of its Innovation Advisory Committee on Aug. 20 in Washington.
Chairman Michael Selig created the panel to advise the agency on technology, law, and policy questions. Its 35 members read like a guest list for the White House itself.
They include Polymarket’s Shayne Coplan, Kalshi’s Tarek Mansour, Coinbase’s Brian Armstrong, and Ripple’s Brad Garlinghouse. Executives from CME Group, Nasdaq, DraftKings, and FanDuel also hold seats.
That roster explains why the two days carry weight. Federal courts have already backed the platforms against state restrictions. A ruling favoring Kalshi kept their contracts trading in Minnesota.
CLARITY Act Vote Looms Over Both Meetings
The Digital Asset Market CLARITY Act would rewrite how Washington polices token trading. The bill sets a firmer test for which assets count as securities. Oversight would split between the Securities and Exchange Commission (SEC) and the CFTC.
The Senate Banking Committee advanced the measure 15-9 in May. Senators then left for their August recess without holding a floor vote.
Democrats object to an ethics carve-out covering Trump’s crypto holdings. Republicans Josh Hawley and Jerry Moran oppose the stablecoin yield provisions on behalf of community banks.
Sixty votes are needed to break a filibuster. That arithmetic has left researchers rating the bill’s passage odds as slim for this year.
Lawmakers return in September, and Majority Leader John Thune has said the chamber will move early on the bill. The SEC has meanwhile started drafting its own crypto rulemaking as a fallback.
Executives will arrive in Washington with one ask above all others. Access to the administration is far easier to win than 60 Senate votes. The coming month will show whether next week’s meetings shifted either number.
The post White House Plans Crypto, Prediction Market Summit Next Week appeared first on BeInCrypto.
Norway’s Government Pension Fund Global disclosed a 6,151,062-share position in BitMine Immersion Technologies valued at $81,870,635, according to a Norges Bank holdings filing for the quarter ended June 30. The holding gives the sovereign wealth fund indirect exposure to Ethereum through BMNR… Read the full story at The Defiant
ShipMonk, Trezor’s fulfillment partner, suffered unauthorized access to its systems, affecting nearly 14,000 customers’ data, the cold storage crypto wallet firm reported Thursday.
Trezor said the names, email addresses, phone numbers and shipping addresses of 11,742 customers had been compromised. It also said the names, cities and email addresses of another 1,947 customers were also breached, bringing the estimated number of victims to nearly 14,000 across the U.S., the UK, Sweden, Colombia, Brazil, Italy and Portugal.
“We have some difficult news to share,” Trezor said Thursday on X. “Unfortunately, one of our shipping providers has experienced a data breach that exposed sensitive order data.”
The Trezor-related security hack comes as global data breaches are at an all-time high, according to SentinelOne, a U.S. cybersecurity firm. It said that this year, data breaches have increased by 17% compared with 2025, with an average of 2,090 attacks worldwide each week. It is also estimated that global data breaches have been rising by 3% month over month since January.
Crypto World
Ripple Price Analysis: XRP Structure Remains Weak as $1 Support Comes Under Pressure Again
XRP remains firmly in a corrective structure, with the token trading near $1.00 after months of lower highs and lower lows. While the current support zone could trigger a relief move, the broader trend remains bearish until the asset can reclaim several key resistance levels.
Ripple Price Analysis: The USDT Pair
On the XRP/USDT daily chart, the price continues to trade inside a descending channel and below the 100-day and 200-day moving averages shown on the chart. This keeps the broader market structure tilted to the downside.
XRP is currently testing the $1.00 support zone, which has acted as a local floor during the recent consolidation. Holding this area could give buyers an opportunity to build a base and initiate a recovery toward the first major resistance at $1.25-$1.30. This zone is particularly important as it aligns with the critical 200-day moving average, which is currently declining around the same area.
A breakout above the descending channel and the $1.30 supply zone would improve the technical picture and could open the door toward the $1.50-$1.60 resistance area. However, as long as XRP remains below the $1.25-$1.30 area, the prevailing downtrend remains intact.
If the $1.00 support fails, the next major downside area appears around $0.90. A sustained move below that zone would signal another significant structural breakdown that could push the price even deeper and toward the lower boundary of the large channel.
The BTC Pair
The XRP/BTC pair paints a similarly weak picture. The pair has broken below the 1,700 sats support level and continues to trade within a broader descending structure.
XRP/BTC is now approaching the 1,500 sats support zone. Holding this area could allow for a recovery back toward 1,700 sats, which has now become the first key resistance. Until that level is reclaimed, XRP appears likely to remain relatively weak against Bitcoin.
Overall, XRP is in a critical technical area on both charts. The 1,500 sat demand zone is the crucial level for buyers to defend on the BTC pair. A sustained defense of this area could also fuel a rebound against USDT, but the broader bearish structure remains in place unless XRP begins reclaiming the overhead resistance levels.
The post Ripple Price Analysis: XRP Structure Remains Weak as $1 Support Comes Under Pressure Again appeared first on CryptoPotato.
Tether said Thursday that KPMG U.S. issued an unqualified opinion on the financial statements of Tether International, S.A. de C.V. for the year ended Dec. 31, 2025, completing the first full financial statement audit in the company's history. An unqualified opinion is the cleanest verdict an… Read the full story at The Defiant
The resignation of BitMart Chief Product Officer Terence Lee has stoked speculation online that the soon-to-be-shuttered crypto exchange could well be insolvent.
In a statement, posted online, Lee claims that he wasn’t “responsible for the exchange’s core business,” and that he’s not involved in BitMart’s “operations, management, or asset-related matters of the company or any of its affiliated entities.”
He also stressed that he has “no authority over platform assets, accounts, or matters relating to user funds” and said that he wouldn’t comment on any legal proceedings, calling his resignation “my sole public clarification on this matter.”
Crypto streamer Travladd said that Lee’s departure “screams insolvency,” and claimed that he’s resigning “before shit hits the fan.”
BitMart situation has ‘gotten out of hand’
According to “Cao,” a lawyer who’s previously served BitMart demand papers, the “situation has gotten out of hand.”
They said that “Not being in control of assets doesn’t exempt a co-founder from responsibility; you don’t get to opt out of accountability by stepping back once things collapse.”
Read more: BitMart founder denies exit scam as withdrawals stall
BitMart’s withdrawal issues
Prior to Lee’s departure, Open Gradient CEO Matthew Wang had already accused BitMart of insolvency after his market maker couldn’t retrieve its funds.
He also claimed that it was “insane” that BitMart asked token holders to lock up their tokens one week before it announced that BitMart would cease operations by January 31, 2027.
Wang’s post was apparently deleted while BitMart’s closure announcement on X was “withheld” from UK users “in response to a legal demand.”
Read more: BitMart processed just 63 withdrawals after closure announcement
The announcement promised an “orderly wind-down” and claimed, “withdrawal services will remain available.”
BitMart users scrambled to withdraw their funds as the price of its token fell 80% between July 24 and July 26.
However, there were significant delays, with users experiencing difficulties weeks later.
Co-founder denies rugpull
Eventually, BitMart co-founder Sheldon Xia broke a two-week silence to deny that the firm was conducting an exit scam.
In a statement that included no figures or timeline, Xia said the team is still tallying and consolidating what it holds.
He also floated the possibilty of “involving the courts and independent third-party auditors to provide a transparent report.”
Protos has reached out to BitMart for comment and will update this piece should we hear anything back.
Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.
The City of Baltimore and its mayor, Brendan Scott, filed lawsuits against Kalshi and Polymarket over allegations that the companies violated local gambling laws.
In a Thursday notice, the Baltimore mayor’s office said that the two prediction market companies operated “illegal, unlicensed sports-betting platforms” and misled users about the ”legality and regulatory status of their products.” The lawsuits are centered on claims disputing Kalshi’s and Polymarket’s characterization of event contracts, arguing that the trades amount to unlawful wagers under state laws.
“These companies are running sportsbooks without licenses and betting that a new label will put them above the law,” said Scott. “It won’t. Baltimore will not let multibillion-dollar companies put profits over people and harm our communities through illegal gambling.”
Notably, the city’s complaint against Kalshi included Robinhood, Webull and Coinbase as partners with the prediction market platform. All companies were accused of deceptive practices by marketing sports contracts as something that can ”lawfully be purchased and traded in Maryland.”
The legal action against prediction market companies was the latest conflict between US state and federal authorities, and many experts expect it to end with an appeal to the Supreme Court. The US Commodity Futures Trading Commission (CFTC), under Chair Michael Selig, and companies have argued that event contracts on prediction markets amount to “swaps” within its purview, while both Baltimore lawsuits and other state-level authorities dispute that claim.
“City-specific action runs counter to the CFTC’s established framework for regulating prediction markets,“ a Polymarket spokesperson told Cointelegraph in response to the lawsuit. “As courts have recognized, prediction markets on CFTC-registered exchanges are governed by federal law, not a patchwork of state and local rules.”
Related: Judge stays CFTC’s case against US soldier over prediction market bets
It is quite challenging to spot a cryptocurrency whose price has jumped by double digits over the past seven days, with Monero (XMR) among the few exceptions.
Following the green wave, many market observers have become optimistic, expecting additional gains.
Just the Beginning?
XMR has crossed $400, currently trading at around $404 (according to CoinGecko), representing a 13% weekly increase. Its market capitalization has exceeded $7.5 billion, making it the 16th-largest cryptocurrency after overtaking Cardano’s ADA.
The exact catalyst for the resurgence remains rather unclear, yet certain analysts spotted the formation of bullish patterns that could support a more sustainable uptrend. Several days ago, X user The Moon Show claimed that XMR might be carving out a massive cup-and-handle structure.
“I’m watching for a clean handle followed by a breakout above $430. If that happens, things could move very fast,” they said.
For their part, Lucky (an X user with almost two million followers) described the move north as a “special breakout from a special privacy gem.” The analyst argued that it has entered the bullish trend, projecting a pump to almost $600.
Crypto With Gopal appears to be the biggest optimist. He opined that XMR has formed a massive triangle pattern, with the price consolidating near $400 after a strong recovery, as rising support and descending resistance squeeze momentum.
“Bulls are holding the range as a major breakout setup develops. A clean breakout above the upper trendline could trigger a major expansion move toward the $1,000 target,” he forecasted.
The Bearish Signals
It is worth mentioning that, based on two important factors, XMR’s rally could be abruptly replaced by a short-term pullback. The first is the asset’s Relative Strength Index (RSI), which measures the speed and magnitude of recent price changes to give traders an idea about possible trend reversals.
It ranges from 0 to 100, where anything above 70 means that the coin has entered overbought territory and could be due for a correction. In contrast, ratios below 30 are typically interpreted as buying opportunities. As of now, the RSI stands at around 77.
The second element is XMR’s exchange netflow. In the past few months, inflows have dominated outflows, signaling that investors have abandoned self-custody and flocked to centralized platforms. This, in turn, increases immediate selling pressure.
The post Monero (XMR) Rises 13% Weekly as Analysts Expect Further Upside appeared first on CryptoPotato.
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