Ripple CEO Brad Garlinghouse is set to attend the CFTC’s IAC meeting. The U.S. CFTC and SEC have jointly classified XRP as a commodity, placing it alongside gold and silver. The move marks a major regulatory development for XRP. It clarifies that XRP is not treated as a security.

The Office of the Comptroller of the Currency has granted preliminary approval for World Liberty Trust Company to form a national trust charter in Florida, but it does not provide full banking powers and it explicitly walls off the WLFI token. The approval is not a final license, and the OCC can change or withdraw it if circumstances shift. The trust must maintain at least $20 million in Tier 1 capital, including at least $10 million in eligible liquid assets. The preliminary approval will lapse if capital is not raised within 12 months or the trust does not open within 18 months.

Crypto market cap rose 7.53% to USD 2.456T as seven major assets advanced, BTC shorts were liquidated, and open interest rebuilt.

South Korea’s regulator has accepted BitGo Korea’s Virtual Asset Service Provider registration, clearing it to offer crypto custody and transfer services and making it the first newly established local entity of a global digital-asset firm to pass the process. The unit is backed by Hana Financial Group and SK Telecom, which hold 25% and 10% stakes respectively after partnering from 2023. BitGo has been under pressure as a newly listed company since its January 2026 NYSE debut, with shares sliding from $18 to $6.25 at the Aug. 19 close.

Iran is considering strikes on US military targets in Europe if President Donald Trump escalates the war, with Bulgaria and Cyprus cited as potential retaliation sites. Tehran has also examined the possibility of targeting subsea fiberoptic cables in the Strait of Hormuz as regional tensions rise. In crypto markets, Bitcoin whales have resumed buying, adding about 43,000 BTC worth roughly $2.75 billion.

Ripple has been closely involved in U.S. top-level financial policy discussions over a three-day span. On Aug. 18, SEC Chair Paul Atkins moved forward with Regulation Crypto Assets, creating new compliance pathways for crypto under federal securities law. On Aug. 19, Ripple is set to attend a White House-level meeting alongside Coinbase, Chainlink, Nasdaq and CME Group, with President Donald Trump expected to attend. On the same day, Ripple CEO Brad Garlinghouse is taking a seat on the CFTC Innovation Advisory Committee to provide policy input with both traditional finance and crypto institutions.

Bitcoin saw what was described as a coordinated short-selling move in the futures market. Against a risk-off backdrop tied to U.S.-Iran tensions and a 30% jump in crude oil prices in July, two entities executed 181 synchronized trades within 1.3 seconds. On Aug. 17, they added 585.3 BTC in short exposure at an average price of about $62,935, taking total short exposure to 2,675 BTC worth around $169 million. The operation was characterized as a planned whale attack intended to exploit macro-driven fear by creating the appearance of a short squeeze.

Ripple CEO Brad Garlinghouse is set to attend a White House meeting with President Donald Trump alongside SEC Chair Paul Atkins and CFTC Chair Michael Selig. The gathering marks the kickoff of the CFTC’s new Innovation Advisory Committee, which is scheduled to hold its first meeting tomorrow. Garlinghouse is one of 35 members and will sit with representatives from Nasdaq, CME, Cboe and DTCC to discuss digital asset regulation, tokenization and market structure. The timing comes as the CLARITY Act remains stalled in the Senate, with a cloture vote set for September 15.