Here’s a quick recap of the crypto landscape for Wednesday (August 22) as of 9:00 a.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at its lowest valuation of the day at US$112,016, a 1 percent decrease in 24 hours. Its highest valuation of the day was US$113,827.
Bitcoin price performance, August 22, 2025.
Chart via TradingView
Ethereum (ETH) was priced at US$4,228.45, trading flat over the past 24 hours. Its highest valuation of the day was US$4,347.92 and its lowest valuation was US$4,211.66.
Altcoin price update
- Solana (SOL) was priced at US$178.40, down by 2.9 percent over 24 hours, and its lowest valuation of the day. Its highest was US$185.97.
- XRP was trading for US$2.80, down by 3.5 percent in the past 24 hours and its lowest valuation of the day. Its highest was US$2.92.
- Sui (SUI) was trading at US$3.34, down by 3.1 percent over the past 24 hours and tallying its lowest valuation of the day. Its highest valuation of the day was US$3.47.
- Cardano (ADA) was trading at its lowest valuation today at US$0.8274, down by 4.8 percent over 24 hours. Its highest valuation today was US$0.8766.
Today’s crypto news to know
Coinbase approves Trump-backed stablecoin
Coinbase has listed USD1, a stablecoin issued by World Liberty Financial, the crypto project linked to former President Donald Trump and his sons.
The exchange announced the move on Thursday, while Eric Trump reposted the news on X and hinted that additional updates about the project are coming soon.
With the addition, Coinbase now offers US users a wide range of stablecoins including USDT, USDC, PYUSD, DAI, and others. World Liberty launched USD1 earlier this year as part of its push into decentralized finance, positioning the token for use in a forthcoming platform built on Ethereum with Aave technology.
However, the platform is not yet live, but the company has said it will eventually support lending and borrowing services.
The listing comes as the US stablecoin sector gains momentum following the passage of the GENIUS Act, which set national standards for stablecoin issuance and trading.
Still, World Liberty’s political connections remain controversial, especially after reports linked USD1 to a multibillion-dollar investment in Binance from an Abu Dhabi sovereign fund.
Ripple, SBI to bring RLUSD to Japan
Ripple and SBI Holdings have unveiled plans to bring Ripple USD (RLUSD) to Japan, aiming to launch the stablecoin in early 2026.
The rollout will be handled by SBI VCTrade, a licensed digital payments provider, under Japan’s new regulatory framework for stablecoins.
RLUSD, first introduced in December 2024, is backed by dollar deposits, short-term US Treasuries, and cash equivalents, with monthly attestations from an independent firm.
Ripple says this design ensures regulatory clarity and sets the coin apart as an institutional-grade product. SBI executives described the partnership as a milestone for Japan’s financial system, stressing that the stablecoin will enhance trust and convenience for users.
Ripple officials framed RLUSD as a bridge between traditional finance and decentralized networks, particularly just days after Japan approved its first yen-based stablecoin.
Austrac directs Binance to appoint external auditor
Binance is facing renewed scrutiny in Australia after the country’s financial watchdog directed it to appoint an external auditor.
Austrac said the exchange failed to meet standards for anti-money laundering and counter-terrorism financing controls, citing gaps in oversight and risk management. The agency also pointed to Binance’s high staff turnover and limited senior management presence in Australia as red flags.
Austrac chief Brendan Thomas warned that global crypto exchanges must adapt to local compliance requirements, regardless of their size.
The action adds to a growing list of regulatory challenges for Binance worldwide, including a record US$4.3 billion fine in the United States last year for failing to block illicit users.
Its founder, Changpeng Zhao, is also serving a four-month prison sentence related to those violations. Meanwhile, in Nigeria, Binance is still battling tax evasion and illegal foreign exchange allegations, with a court trial pushed back to October.
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.