Crypto Weekly Market Wrap 11th August: Ripple Victory, Stablecoin Push, and Global Regulatory Shifts

Last week, the crypto market saw a whirlwind of developments. From Ripple ending its SEC fight to global pushes for stablecoins, fresh regulatory shake-ups, and big corporate Bitcoin acquisitions. The industry saw a mix of wins, warnings, and bold moves that kept the entire industry on its toes. In the section below, we will discuss this crypto weekly market wrap of 11th August in deep detail. Ensure to read to the end to have a full grasp.

Ripple Ends Legal Dispute with SEC

Ripple Labs and the SEC officially concluded the ongoing case between the two after both decided to drop their appeals. SEC dropped a case against one of its previous decisions that stated that the sale of XRP on the exchanges did not qualify as a security. Ripple also abandoned its cross-appeal on the topic of institutional sales.

#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: The parties have filed a Joint Dismissal of the Appeals. The case is over. pic.twitter.com/QMATRLnxnS

— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 7, 2025

The case started after SEC claimed that Ripple conducted an unregistered securities sale. Judge Analisa Torres had earlier decided that institutional sales were in contravention of securities laws, whereas public exchange sales were not. The move affirms that XRP is not a security in the retail market. The conclusion was confirmed by the Chief Legal Officer of the Ripple Company, Stuart Alderoty, who stated that the company is now going to concentrate on growth.

Trump Moves to Add Crypto to 401(k) Plans

President Trump issued an executive order that may allow cryptocurrencies and any other alternative assets in 401(k) retirement accounts. The order instructs regulators to eliminate obstacles that prevent employers from providing these investment options.

The arrangement includes digital assets, real estate, and private equity as a form of retirement diversification. Though it does not alter current regulations immediately, it puts responsibilities on the Labor and Treasury departments to review restrictions. In case of its implementation, such a move could introduce crypto into the mainstream of retirement planning for millions of Americans.

SEC Clarifies Liquid Staking Rules

The Division of Corporation Finance at the SEC did acknowledge that some liquid staking solutions, like those involving receipt tokens, such as stETH, are not securities. This update eliminates the fear of obligatory registration of such services. The decision was accepted positively by legal experts as it said that when a token represents a token, it is not a security. The update is expected to enhance institutional confidence with staking and facilitate regulated DeFi products in the future.

CrediX Finance Team Disappears After $4.5M Exploit

CrediX Finance disappeared within days following a $4.5 million exploit of its protocol. According to security firms, the team has been offline since August 4. Its website, X account, and Telegram channel have been inaccessible.

#CertiKInsight 🚨

Following the incident that resulted in a $4.4M loss, the @CrediX_fi team has disappeared.

X account is inactive, and the website hasn’t been brought back online since August 4. pic.twitter.com/ymWoupVaZL

— CertiK Alert (@CertiKAlert) August 8, 2025

SlowMist disclosed that hackers gained access to the multisig admin and bridge wallets of the protocol and minted crypto as collateral to drain liquidity pools. The team promised to reimburse previously, but wiped out all messages. Furthermore, analysts believe that it is an exit scam.

CFTC Prepares to Allow Spot Crypto Trading on Registered Platforms

The Commodity Futures Trading Commission launched an initiative that would enable the trading of spot crypto on federally regulated futures exchanges. Known as the “Project Crypto,” the project will liaise with the SEC to bring spot digital asset trading under concerted federal regulation. According to Acting Chair Caroline Pham, the CFTC already has the powers to regulate such activities pursuant to the Commodity Exchange Act. The proposal is going to establish a controlled marketplace of spot crypto asset contracts that are currently traded on unregulated markets. Until August 18, stakeholders can leave feedback.

Metaplanet Expands Bitcoin Holdings

Japanese publicly traded company Metaplanet expanded its Bitcoin holdings, buying 463 BTC at $53.7 million. The cost of this new acquisition averaged at $115,895 per Bitcoin, indicating the continuing confidence that the firm has in the asset. With this addition, the Metaplanet holds a total of 17,595 BTC at an average of $101,422 per coin. The overall investment of the company in Bitcoin is around $1.78 billion. This makes them one of the largest corporate owners of Bitcoin in Asia.

China Plans First Stablecoin Through Hong Kong

China is gearing up to greenlight its initial fiat-backed stablecoin under the Hong Kong license framework. The move aims to increase the role of the renminbi currency in international influence and to decrease the reliance on the U.S. dollar. The new law will permit licensed companies to issue stablecoins in Hong Kong. However, approvals will be restricted when they commence next year.

🚨 CHINA WILL LAUNCH OWN STABLECOIN

It will inject $1T+ and Chineese alts will pump

I analyzed government reports and was shocked…

Here's their plan and 5 Chineese alts that will pump 250x 👇🧵 pic.twitter.com/6IKoH0B77K

— ᴛʀᴀᴄᴇʀ (@DeFiTracer) August 7, 2025

The first applications of the renminbi-backed stable coin will be based on business-to-business models. Authorities aim to treat Hong Kong as a controlled experimental ground but want mainland limits on cryptocurrency activity to be enforced.

Ripple to Acquire Rail for Stablecoin Expansion

In an effort to boost its stablecoin payment services, Ripple said that it would acquire payment platform Rail at a price of $200 million. The API platform offered by Rail facilitates the connection of more than 12 banking partnerships and possesses more than 60 financial licenses. The purchase is projected to be finalized at the end of 2025, under the condition of obtaining a license. Moreover, Ripple stated that the move will help it deliver ga lobal financial institutions always-on, compliant, and stablecoin payment infrastructure.

Laser Digital Launches Regulated Crypto Derivatives in Dubai

Dubai issued its first regulated crypto derivatives product to Laser Digital, which is owned by Nomura. The license would permit the company to sell over-the-counter crypto derivatives to institutional clients via the International Swaps and Derivatives Association Framework. Laser Digital will initially provide vanilla options to enable institutional investors to have exposure to crypto with decreased complexity. The authorization aligns with the efforts by Dubai to position itself as a hub of digital asset services.

SBI Denies Crypto ETF Applications

SBI Holdings dismissed earlier news that it had filed to list Bitcoin or XRP ETFs in Japan. The company stated that it would await the decision of Japanese regulators to explain the legal status of cryptocurrencies before proceeding.

📰 Despite speculation, #SBI Holdings confirms that no dual #Bitcoin– $XRP ETF application has been submitted. Says media reports misread earnings update ❌ pic.twitter.com/KavJOMnrZz

— Coinpaper (@coinpapercom) August 8, 2025

Its subsidiary, SBI Global Asset Management, will carry out any future applications of ETFs with a targeted direction on products that suit individual investors. Such filings have not been scheduled.

Trump Targets Banking Bias Against Crypto and Conservatives

Donald Trump plans to sign an executive order that will attempt to deter banks from terminating the services extended to cryptocurrency companies and politically conservative institutions. The order will command federal banking regulators to examine closures of accounts that might be ideological or political and not on the basis of financial risk.

The proposal further includes the need to review the role of the Federal Reserve in the issuance of bank access. When put into use, agencies would be able to impose fines on institutions violating the fair access laws. The move follows criticism of what has been termed by critics as an effort at Operation Chokepoint 2.0. It reportedly blocked some industries from entry into the banking system.

KakaoBank Eyes Stablecoin Market

KakaoBank in South Korea is considering the possibility of issuing stablecoins and offering custody services. The bank is cooperating with the Kakao stablecoin task force and has past experience in providing real-name verified accounts to crypto exchanges and real-name accounts testing on CBDC.  Additionally, KakaoBank has already registered trademarks regarding stablecoins. The project would position the bank as a leader in the regulated digital asset market in Korea.

UAE Moves Toward Unified Crypto Regulations

The Securities and Commodities Authority and the Virtual Assets Regulatory Authority of the UAE and Dubai decided to create a national framework for virtual assets. The partnership involves a harmonized registration system that involves service providers, the mutual recognition of licenses, and real-time information exchange among regulators.

UAE’s SCA VARA Crypto Regulatory Partnership

♦️The UAE’s Securities and Commodities Authority (SCA) and Dubai’s Virtual Assets Regulatory Authority (VARA) have formally launched a strategic partnership to align the country’s crypto regulatory framework.

♦️The agreement builds… pic.twitter.com/KzfWGGDYEF

— XChangeOn (@XChangeon) August 7, 2025

A legislative review committee will also be established by the two agencies to put the local standards on par with international best practices. However, licenses will not automatically be recognized in other jurisdictions. The coordination intends to simplify compliance for companies that operate across the Emirates.

South Korea Studies Stablecoin AML Rules

The South Korean Financial Intelligence Unit has initiated a study on regulating anti-money laundering policies in stablecoins. This study will look at the application of the domestic and foreign-issued stablecoins. In addition, it will discuss how they can be used as payment and cross-border settlement instruments. This project, which is to last until December 12, has a budget of 50 million won. The requirements of issuance, circulation, and redemption will also be analyzed in order to suggest regulatory measures clearly.

Philippines Restricts Access to Unregistered Crypto Platforms

The Philippine Securities and Exchange Commission instructed the ban of 10 offshore cryptocurrency exchanges, including OKX, Bybit, and KuCoin. These platforms have been considered illegal and lack the necessary local license. Major internet provider PLDT has denied access to exchanges’ websites, with users being presented with a violation notice. The move implements new policies that come into effect in June. They require all crypto service providers to comply with regulations by registering.

China Warns Brokerages Over Stablecoin Discussions

Chinese regulators have instructed law firms and research organizations to cease organizing seminars or releasing reports about stablecoins. Authorities feared that the stablecoins would be used to commit fraud or other malicious acts within mainland China.

According to Bloomberg, China's financial regulators are cooling down the overheated stablecoin craze, with some leading Chinese brokerages being asked to cancel seminars and stop disseminating research reports on stablecoins. https://t.co/DADpu5YUDs

— Wu Blockchain (@WuBlockchain) August 8, 2025

The instruction was given at the end of July and early August. It highlights Beijing’s conservative attitude to products related to cryptocurrency despite promoting controlled pilots via Hong Kong.

El Salvador Prepares Bitcoin Banks

El Salvador is set to open what might be the first Bitcoin-exclusively bank worldwide. The Bitcoin Office dropped a hint that the project could involve bank-like operations denominated in BTC and backed by new legislation. The government officials regard it as a step forward in making Bitcoin a national financial instrument. After legalizing Bitcoin as a currency in 2021, the country has been trying to establish itself as a world leader in terms of cryptocurrency innovation.

Brazil to Discuss Bitcoin as a Reserve Asset

Brazil’s Congress will engage in a public hearing on August 20 to discuss the possible inclusion of Bitcoin in the reserves of country. The discussion will include lawmakers, economists, and industrial experts to discuss risks and benefits. Congressman Gustavo Gayer requested the hearing in the belief that, due to scarcity and decentralization, Bitcoin can serve as a hedge against inflation. It will be the first official debate in the National Congress of Brazil about Bitcoin as a reserve asset.

BlackRock Rules Out XRP and Solana ETFs

BlackRock revealed that it is not immediately planning to file with spot ETFs tied to either XRP or Solana. The decision follows the recent legal settlement between Ripple and the SEC, which some have projected as opening the path to such products.

BlackRock immediately calls me out…

Says *no* plans at this time to launch spot xrp (or sol) ETF.

IMO, this will be looked back on as a mistake.

We shall see.

via @ForTheWynn_ pic.twitter.com/9nQaA3ZYDO

— Nate Geraci (@NateGeraci) August 8, 2025

Analysts at Bloomberg believe that BlackRock is content with the current Bitcoin and Ethereum funds. They noted that the company might be hesitant to venture into other crypto assets at this point.

Animoca, HKT, and Standard Chartered Seek Hong Kong Stablecoin License

A joint venture between Animoca Brands, Hong Kong Telecommunications, and Standard Chartered lodged an application for a stablecoin license in Hong Kong. Since last year, the group has been testing use cases within the sandbox of the Hong Kong Monetary Authority. The partners aim to launch a stablecoin, which can be used safely by institutional and retail clients. Furthermore, the license will also mandate strict fiat reserves, risk controls, and same-day redemption capabilities.

Ukraine Sets Limits on Crypto Payments

The National Bank of Ukraine ruled out the legal tender status of cryptocurrencies. Governor Andriy Pyshnyy emphasized that crypto can not substitute the national currency and cannot be used in the payment of daily bills. Although the bank acknowledges the existence of a regulated digital asset market, it demands intense supervision to curb illegal practices. Any framework has to meet international standards and maintain financial stability.

India Issues Crypto Tax Notices

The Income Tax Department of India served notices to over 45,000 individuals who did not report crypto income. Authorities traced the operations relying on the information provided by exchanges and financial institutions. The crackdown is supposed to straighten out the tax-filing and deter future evasion. Other notifications describe significant unreported trading on domestic and foreign markets.

🚨🇮🇳 India’s Taxman Comes for Crypto Traders! The Income Tax Dept is cracking down hard. Thousands of notices sent to traders over undisclosed crypto gains 📩💰

— CryptoAlert (@SatoshiWatch) August 7, 2025

MetaMask Plans mmUSD Stablecoin With Stripe

MetaMask will collaborate with Stripe to introduce mmUSD, a stablecoin pegged to the U.S. dollar. The coin would be interconnected to MetaMask’s wallet and DeFi ecosystem, fostering smooth transactions. It would use the M⁰ network to improve speed and scalability. Users could easily move funds between bank accounts and blockchain applications through Stripe’s payment systems.

Digital Asset Investment Products Market Overview

U.S. digital asset products saw a weekly net inflow of $572 million after a sharp early decline, according to the latest report from CoinShares. The week started with $1 billion in outflows, which analysts linked to weak U.S. payroll figures. Later, inflows surged to $1.57 billion following approval for digital assets in 401(k) retirement plans. Ethereum recorded the largest inflows at $268 million, pushing its year-to-date total to a record $8.2 billion. Its assets under management climbed to $32.6 billion, reflecting an 82% rise in 2025. Bitcoin also rebounded with $260 million in inflows after two weeks of losses.

Digital asset investment products returned to inflows last week, totalling US$572m. Ethereum ETPs led with US$268m in inflows, Bitcoin regained momentum with US$260m in inflows, while altcoins Solana, XRP, and Near posted US$21.8m, US$18.4m, and US$10.1m respectively.…

— Wu Blockchain (@WuBlockchain) August 11, 2025

Solana gained $21.8 million, while XRP and Near saw $18.4 million and $10.1 million, respectively. The U.S. and Canada posted inflows, but Europe faced combined outflows of $54.3 million.

Bitcoin Price Performance

The largest asset, Bitcoin, displayed a massive performance last week, surging from $112k to above the $120k mark. Bitcoin recorded a gain of 6% during this period. In addition, the market capitalization surged above $2.40 trillion while the trading volume climbed to $75 billion. 

Technical indicators suggest that the price could continue its rally as the bulls take the lead. The RSI indicator, at 67, is still trading below the overbought region. The MACD is also positive as it climbs further above the signal line, and the histogram maintains a bullish outlook. Should the current trend hold, BTC could break above its all-time high soon.