Today's Crypto News: Bitcoin, Ether and Altcoin Insights
Get the latest insights on Bitcoin, Ether andaltcoins, along with a round-up of key cryptocurrency market news. Here's a quick recap of the crypto landscape for Friday (August 14) as of 10:00 p. m. UTC. . . .
Get the latest insights on Bitcoin, Ether andaltcoins, along with a round-up of key cryptocurrency market news. Here's a quick recap of the crypto landscape for Friday (August 14) as of 10:00 p. m. UTC. Bitcoin price updateBitcoin (BTC)was priced at US$62,905. 35, down by 0. 5 percent over the past 24 hours. Despite encouraging US inflation data this week, Bitcoin has not followed US equities higher, dropping three percent for the week as of Friday’s close. Meanwhile, Ether has also continued its downward trend, dropping two percent for the week. Simon-Peter Massabni, head of business development at XS. com, attributed the recent decline in Ether's price to a period of market repositioning and risk repricing rather than a fundamental shift in the network's long-term value. Key factors influencing this outlook include a cooling of institutional capital, reflected in reduced ETF inflows and investor caution ahead of US economic data. “Under these circumstances, it is natural for institutions to temporarily reduce risk and reallocate liquidity rather than abandon Ethereum altogether,” he wrote in an email. While short-term risks remain, the broader uptrend may resume if institutional demand recovers and financial conditions improve, though long-term success will also depend on Ether effectively converting its Layer 2 ecosystem growth into sustained token demand. Ether and altcoin price updateEthereum (ETH)was priced at US$1,879. 47, trading 0. 1 percent lower over the last 24 hours. XRP (XRP)was priced at US$0. 99, trading 0. 7 percent lower over the past 24 hours. Solana (SOL)was trading at US$75, trading 1. 1 percent lower over the past 24 hours. Today's crypto news to knowRead on for a round-up of the biggest crypto market news:Tether achieves milestone with full independent auditBinance cuts off transaction with HTX, 10 crypto platformsSEC cancels vote on capital-raising exemptions for crypto startupsWashington court orders Kalshi to block in-state bettingCrypto platform Gemini reports Q2 earningsShinhan, Plume Network partner to tokenize Korean fundsTether achieves milestone with full independent auditTether announced on Friday that it had completed the first-ever full independent audit of its financial statements, conducted by KPMG, which issued an unqualified audit opinion — otherwise known as a “clean” audit for the platform’s 2025 financial statements. This represents a major institutional credibility milestone for USDT and the broader stablecoin market. As part of the audit process, auditors even physically inspected and counted Tether'sgold bullionreserves. Tether also shared itsQ2 2026 financial resultsthis week, highlighting net operating profit of around US$1. 5 billion, driven primarily by yield on US Treasury holdings and repo investments. Circulating USDT has exceeded US$184 billion, and the stablecoin issuer now holds US$ now holds US$187. 75 billion in total assets against roughly US$183. 64 billion in liabilities. Binance cuts off transactions with HTX, 10 crypto platformsBinance willhalt all transactionprocessing for HTX and 10 additional cryptocurrency trading platforms beginning August 23. The exchange cited new regulatory mandates and international sanctions enforcement for restricting access to platforms including HTX, Rapira, ABCeX, EXMO and BitPapa. Binance warned that its compliance team will hold any transactions attempted on or after August 23 and may lock affected user wallets during formal reviews. The restrictions directly follow theEuropean Union's 21st sanctions packageagainst Russia, which targeted 14 crypto service providers for assisting sanctions evasion. The British government previously designated Huobi Global S. A. in May, while the Office of Financial Sanctions Implementation confirmed that sanctions extend directly to HTX due to corporate ownership. HTX disputed the British designation, claiming Huobi Global S. A. operates as a separate legal entity without impacting exchange customer funds. Binance previously blocked access to Shelbit and Aban Tether Exchange on August 7 after theUS Treasury sanctionedboth platforms over ties to Iranian financial networks. SEC cancels vote on capital-raising exemptions for crypto startupsThe US Securities and Exchange Commission (SEC)abruptly canceleda Friday meeting where commissioners planned to vote on new capital-raising rules for crypto startups. An SEC spokesperson cited an unforeseen scheduling issue for moving the meeting to an unannounced date. The agency intended to consider proposed exemptions allowing digital asset startups to raise capital without registering under traditional securities offering frameworks. SEC Chair Paul Atkins previously outlined plans for a fit-for-purpose startup exemption that provides entrepreneurs a finite window to build decentralized networks without triggering full registration requirements. Atkins is also developing an innovation exemption allowing firms to experiment with blockchain-based stocks and novel digital asset business models. The abrupt postponement follows the US Senate's departure for a five week August recess without holding a vote on the Clarity Act. Washington court orders Kalshi to block in-state bettingA King County Superior Courtjudge orderedprediction market platform Kalshi to cease operating most of its business within Washington state. The ruling determined that Kalshi likely violated the state's Gambling Act and Consumer Protection Act by running an illegal gambling operation. The court order requires Kalshi to implement IP address and residency geofencing by August 19 to block local residents from wagering on sports, elections, politics, entertainment and public figure mentions. Washington Attorney General Nick Brownaccused the platformof generating profits by promoting illegal wagers on sports, natural disasters and geopolitical conflicts. The injunction also prohibits Kalshi from running advertisements in Washington after prosecutors submitted promotional materials showing users how to circumvent state betting restrictions. The state court order arrived two days after the Commodity Futures Trading Commission (CFTC)invoked emergency powersto compel Kalshi to maintain nationwide trading operations. Crypto platform Gemini reports Q2 earningsCameron and Tyler Winklevoss’s crypto platform,Gemini Space Station (NASDAQ:GEMI)postedUS$45. 5 million in revenue for Q2, a 37 percent jump year-on-year; however, with spot trading volumes down significantly across the industry, Gemini’s exchange trading revenue fell 38 percent to US$12. 5 million. Services and interest income, powered by staking, rewards and its crypto credit card, surged 117 percent to US$26 million, now accounting for nearly 60 percent of total net revenue. Operating expenses fell 15 percent quarter-on-quarter to US$122. 4 million as cost-cutting efforts took hold, though the company ultimately reported a net loss of US$107. 7 million for the quarter. Co-founder Cameron Winklevoss emphasized the company's shift toward broader financial services, highlighting the recent rollout of commission-free stock trading and prediction markets on the platform. Shinhan, Plume Network partner to tokenize Korean fundsShinhan Asset Management, a major South Korean asset manager, and Plume Network, an RWA-dedicated blockchain infrastructure provider that holds a Transfer Agent license registered with the SEC and participates in digital asset working groups, havesigned a memorandum of understandingto work together on tokenizing Korean won-denominated investment funds. According to a press release, they are benchmarkingBlackRock's (NYSE:BLK)tokenized fund, BUIDL, which operates on similar principles using USD. The goal is to test bringing high-quality Korean financial assets, specifically short-term bond funds, onto the blockchain so that overseas investors can access them. This is currently in a testing phase conducted offshore, with Korean residents strictly excluded from participating in this test phase to adhere to local domestic regulations. The testing will verify compliance mechanisms on the blockchain, including Identity Verification, Anti-Money Laundering and transfer restrictions. Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article. Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article. Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.