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Crypto News
U.S. SEC to again delay 'innovation exemption' for tokenization amid Wall Street, White House concerns
The Securities and Exchange Commission (SEC) is set to further delay its anticipated "innovation exemption" designed to accelerate tokenized securities trading after concerns emerged from both the White House and Wall Street over the proposal's legal footing and potential market impact, according to three industry sources familiar with the matter.
The exemption, which had been expected to be released in part as soon as this Friday, would have eased regulatory hurdles for firms seeking to issue and trade tokenized securities on blockchain rails under existing securities laws. The SEC had announced an open meeting this Friday to discuss its planned "Reg Crypto" rulemaking, a parallel but unrelated effort to create rules for projects looking to fundraise using tokens. The commission was also expected to share details about the innovation exemption at the same meeting, but not release it through a formal notice-and-comment process. The commission canceled that Friday meeting late Thursday.
Kalshi in talks with Sequoia, Wellington for $750 million fund raise at $40 billion valuation
Prediction market giant Kalshi is in advanced discussions with Sequoia Capital and Wellington Management for a new $750 million funding round at a $40 billion valuation, The Information reported, citing people familiar with the matter.
Sequoia, which is already an existing investor in Kalshi, and Wellington are considering leading the investment round, the sources said, adding that the funding amount could be greater than $750 million. The Silicon Valley-based Sequoia, which has $56 billion in assets under management, already has an executive on Kalshi’s board of directors.
For Wellington, a Boston-based financial giant with $1.3 trillion in client assets under management (AUM), this funding round would be its first investment in Kalshi. Wellington has made private investments in companies leading up to their initial public offerings (IPO). Kalshi is considering an IPO in 2027, its CEO Tarek Mansour said in June.
Tether says it completed long-promised 'Big Four' audit of finances behind $180 billion USDT stablecoin
Tether, the company behind the world's largest stablecoin USDT, said Thursday that it had completed a full financial audit for the first time, claiming it delivered on a transparency measure it had promised for years as questions lingered over the assets backing its token.
KPMG U.S., one of the “Big Four” accounting firms, audited Tether International's financial statements for the year ended Dec. 31, 2025 and issued an unqualified opinion, Tether said. That means the accounting firm found the statements fairly presented Tether's financial position, results and cash flows in all material respects under U.S. generally accepted accounting principles.
The statements showed Tether's reserves exceeded liabilities by $6.814 billion at the end of 2025, Tether said.
Bitcoin & Ethereum Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Thursday was $125.39 million. The total net asset value of Bitcoin spot ETFs is $77.25 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 2.35%.
The Bitcoin spot ETF with the highest net outflow on Aug 13 was ARK 21Shares Bitcoin ETF, with a net outflow of $58.82 million, according to SoSoValue.