TL;DR
U.S. Indices Mixed Near Record Highs: Benchmarks closed mixed after setting mid-week highs. The S&P 500 (+0.36% to 7,785.76) and Nasdaq (+0.14% to 26,729.16) edged higher, while the Dow retreated (-0.56% to 53,732.41).
Cooling Inflation vs. Softening Consumer Demand: A soft July CPI print and flat PPI trimmed the implied probability of a September Fed rate hike to ~33%, but a 0.6% MoM decline in July retail sales and profit-taking in semiconductors capped broader momentum.
Crude Oil Rebounded: Geopolitical tensions and threats to blockade Iranian shipping routes lifted Brent to ~US$90.85/bbl (from ~US$85.47) and WTI to ~US$82.41/bbl (from ~US$77.47).
Treasury Yields Edged Higher: Rebounding oil prices and a sizeable 30-year bond auction (~5.22%) pushed the 10-year Treasury yield to 4.69%, from 4.65%.
Gold Extended Gains: Spot gold advanced to ~US$4,377/oz (from US$4,342), supported by muted inflation readings, weak retail sales and sustained central bank buying.
STRC held around US$95, as BTC/MSTR-related risk and short pressure continued to outweigh the benefits of buybacks and a larger liquidity buffer.
Among major tokens, LINK outperformed with a 15.4% gain, underpinned by ongoing Chainlink reserve buybacks.
Copper secured U.S. broker-dealer registration and FINRA membership.
River Markets raised US$8.5M to build institutional-grade prediction market trading infrastructure.
Saturn partnered with Ondo and received a strategic investment to expand its tokenized structured credit offering.
Macro Overview
Inflation Softens Further, but Weak Retail Sales and Rebounding Oil Stall the Record Rally
During the week ending August 14, 2026, global financial markets consolidated near record highs amid a tug-of-war between benign inflation prints and signs of slowing consumer demand.
The macro narrative mid-week was anchored by encouraging inflation data. The July U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) releases both came in cooler than expected, with headline PPI flat month-over-month (0.0% MoM vs. 0.2% consensus). The data reinforced expectations that the Federal Reserve has concluded monetary tightening for this cycle. CME FedWatch implied probabilities of a September rate hike fell sharply, from 55% a week earlier to ~33%.
Equity momentum nonetheless stalled on Friday following weaker-than-expected retail spending data. U.S. retail sales contracted 0.6% MoM in July, against expectations for a modest gain, raising concerns over the resilience of the consumer. In parallel, mega-cap technology names saw selective profit-taking, most notably a 6% single-day decline in Broadcom amid scrutiny of debt financing structures for AI infrastructure. Despite Friday’s retreat, the S&P 500 still posted its third consecutive weekly gain.
In energy markets, oil prices abruptly reversed their recent decline. Concerns over Persian Gulf shipping security resurfaced after the U.S. issued warnings regarding potential blockades of Iranian oil transit routes. Despite a substantial 17.4 million-barrel build in U.S. crude inventories reported by the EIA, Brent crude advanced to US$90.85 per barrel and WTI rebounded to US$82.41 per barrel.
In fixed income, yields drifted higher into the end of the week. Investors digested rising crude prices alongside a 30-year Treasury auction that priced at 5.216%, reflecting continued absorption of long-end supply and demand for inflation protection. Meanwhile, the U.S. Dollar Index (DXY) held near key technical support around 99.64. The combination of a stable dollar, muted producer prices and safe-haven demand continued to support precious metals, keeping spot gold firmly above US$4,370 per ounce. (1)
Asset Class Highlights
U.S. Dollar Index
U.S. Dollar Index (DXY)
The U.S. Dollar Index (DXY) traded in a narrow range throughout the week, finishing near 99.64. Soft inflation readings capped upside attempts for the greenback, while firm European economic growth data (e.g., UK Q2 GDP) kept dollar pairs relatively stable. (2)
U.S. 10-Year and 30-Year Treasury Yields
U.S. 10-Year and 30-Year Treasury Yields
Treasury yields edged higher across the longer end of the curve despite soft CPI/PPI prints:
Yields rose modestly across the curve late in the week, driven by rising oil prices and a heavy 30-year bond auction at ~5.22%. The 10-year Treasury yield closed at 4.69% (up from 4.65%). (3)
Gold
Gold
Spot gold (XAU/USD) continued its strong August performance, advancing +0.8% on the week to close at US$$ 4,376.82 per ounce (after touching intraday highs near U$$ 4,449.83). Bullion remains supported by expectations of Fed policy hold, persistent institutional allocation from Asian buyers, and robust central bank reserve accumulation (with Q2 central bank net purchases up 62% YoY at 289 tonnes). (4)
Crypto Markets Overview
Main Assets
ETH/BTC Ratio
BTC fell 3.1% last week, while ETH declined 1.8%, pushing the ETH/BTC ratio up 1.3%. Bitcoin ETFs recorded net outflows of $389.7M, while Ethereum ETF flows remained largely flat, with just $2.3M in net inflows. Overall market sentiment stayed in the fear zone, with the Fear & Greed Index at 31. (5) (6)
Total Market Cap
Crypto Total Marketcap
Crypto Total Marketcap Excluding BTC and ETH
Crypto Total Marketcap Excluding Top 10 Dominance
Total crypto market cap fell 2.3% last week, while market cap excluding BTC and ETH declined by a milder 0.8%. Meanwhile, the dominance of altcoins outside the top 10 dropped 0.6%, signaling continued weakness among smaller-cap tokens.
Unitree, one of China’s leading robotics companies, is expected to move toward an IPO as early as August 17–21. Ahead of its Shanghai market debut, Hyperliquid is already offering price discovery for Unitree shares: one Unitree A-share is currently trading at around $93 on Hyperliquid, more than 4x the reported IPO price of $22.37. (7)
STRC Performance
STRC recorded US$557M in trading volume last week and continued to trade below par, though its price recovered to around US$95.
MSTR announced STRC buybacks and a larger liquidity buffer last week, yet STRC still trades below par. These measures mainly reduce dividend/payment risk, while pricing remains more heavily driven by BTC volatility, MSTR’s broader equity and leverage risk, and persistent short-selling pressure.
As long as the market continues to price these risks at elevated levels, investors will demand a higher yield, keeping STRC below par despite the stronger liquidity position. (8)
Top 30 Crypto Assets Performance
Source: CoinMarketCap and Gate Ventures, as of 17th Aug 2026
The top 30 cryptocurrencies fell 1.2% on average last week; LINK, HYPE led the gains.
LINK gained 15.4% last week, supported by continued token buybacks. Chainlink added another 127,740 LINK (1.12M) to its reserve, bringing total holdings to 5.48M LINK ($48.5M), reinforcing the market’s view of sustained protocol-driven demand. (9)
The Key Crypto Highlights
MUFG to bring Japanese government bond repo transactions onchain
MUFG and three affiliated firms will launch a proof of concept to bring Japanese government bond repo transactions onchain using the Canton Network, in collaboration with Digital Asset and Progmat. The project aims to automate the repo lifecycle, enable 24/7 real-time intraday settlement, and improve funding and capital efficiency. The initiative forms part of Japan FSA’s Payment Innovation Project, highlighting Japan’s broader push to integrate tokenization and blockchain settlement into traditional financial markets. (10)
CFTC moves to advance crypto regulation as CLARITY Act remains delayed
The US CFTC will hold an Innovation Advisory Committee meeting on August 20 to discuss crypto assets, AI and prediction markets, including areas where regulatory action could complement future legislation. The move follows the Senate’s failure to advance the CLARITY Act before the August recess and comes alongside similar efforts from the SEC to develop crypto rules within its existing authority. The development suggests US regulators may continue pushing forward with agency-level crypto frameworks even while comprehensive market structure legislation remains stalled in Congress. (11)
Copper secures US broker-dealer registration and FINRA membership
Digital asset infrastructure provider Copper has established a regulated US presence after Copper Markets (US) became an SEC-registered broker-dealer and FINRA member. The US arm will offer qualified custody, staking, financing and OTC services, alongside access to Copper’s ClearLoop network for collateral transfers involving crypto and tokenized assets. The approval expands Copper’s institutional offering in the US and reflects continued regulatory normalization of crypto custody and trading infrastructure for traditional financial institutions. (12)
Key Ventures Deals
River Markets raises US$8.5M to build institutional prediction market trading infrastructure
River Markets is building an institutional trading layer that lets professional investors access and trade across multiple prediction markets through a single interface, combining execution, market data and risk-management tools. The company raised US$8.5 million in a Haun Ventures-led seed round, with participation from Y Combinator, Coinbase Ventures and Qube Research Technologies. The funding will support engineering, faster and more secure trading infrastructure, and institutional client expansion, reflecting growing demand to turn fragmented prediction markets into a more mature asset class for hedging and large-scale trading. (13)
Entravel raises US$7.5M to expand crypto-powered travel infrastructure into mainstream markets
Entravel builds white-label travel booking infrastructure for crypto exchanges, fintechs and digital platforms, already powering more than 40 brands including Kraken and MetaMask. The company raised US$7.5 million in a round co-led by Ethereal Ventures and Finality Capital, with the funding supporting supplier credit, booking volume growth, expansion into traditional travel, and a stablecoin-based system for settlement, treasury and working capital. The raise highlights growing convergence between crypto payments, AI-enabled booking infrastructure and the US$1T+ online travel market. (14)
Saturn partners with Ondo and receives strategic investment to expand tokenized structured credit products
Saturn has partnered with Ondo Finance to integrate institutional-grade tokenized assets into its digital credit products, starting with Ondo’s tokenized STRC exposure $STRCon inside sUSD at product. Alongside the partnership, Ondo made a strategic investment in Saturn, supporting deeper integration between Ondo’s tokenized asset infrastructure and Saturn’s onchain structuring and distribution platform. The collaboration highlights growing convergence between tokenized securities and DeFi-based structured credit products. (15)
Ventures Market Metrics
The number of deals closed in the previous week was 8, with Infra having 5 deals, Social having 2 deals, and DeFi having 1 deal.
Weekly Venture Deal Summary, Source: Cryptorank and Gate Ventures, as of 17th Aug 2026
The total amount of disclosed funding raised in the previous week was $19.8M. 3 deals did not disclose the fundraising amount. The top funding came from the Infra sector with $11.3M. Most funded deals: River Markets ($8.5M).
Weekly Venture Deal Summary, Source: Cryptorank and Gate Ventures, as of 17th Aug 2026
Total weekly fundraising declined to $17.8M for the third week of Aug 2026, a decrease of 78% compared to the week prior.
About Gate Ventures
Gate Ventures, the venture capital arm of Gate.com, is focused on investments in decentralized infrastructure, middleware, and applications that will reshape the world in the Web 3.0 age. Working with industry leaders across the globe, Gate Ventures helps promising teams and startups that possess the ideas and capabilities needed to redefine social and financial interactions.
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References
https://www.investing.com/rates-bonds/u.s.-10-year-bond-yield, https://www.investing.com/rates-bonds/u.s.-30-year-bond-yield
BTC & ETH ETF Inflow: https://sosovalue.com/tc/assets/etf/us-btc-spot
BTC Greed and Fear Index: https://alternative.me/crypto/fear-and-greed-index/
UNITREE on Hyperliquid: https://app.hyperliquid.xyz/trade/xyz:UNITREE
STRC: https://x.com/BTCtreasuries/status/2085367550473572739
Chainlink Buyback: https://coinmarketcap.com/community/articles/6a7459f5e6691a1d75dd6651/
MUFG to bring Japanese government bond repo transactions onchain: https://cointelegraph.com/news/mufg-bring-japanese-government-bond-repo-transactions-onchain
CFTC moves to advance crypto regulation as CLARITY Act remains delayed: https://cointelegraph.com/news/cftc-exploring-crypto-regulations-clarity-act
Copper secures US broker-dealer registration and FINRA membership: https://cointelegraph.com/news/copper-us-arm-joins-finra-after-sec-broker-dealer-approval
River Markets raises US$8.5M to build institutional prediction market trading infrastructure: https://fortune.com/2026/08/11/exclusive-river-markets-seed-round-prediction-market-trading-tools-institutions/
Entravel raises US$7.5M to expand crypto-powered travel infrastructure into mainstream markets: https://techfundingnews.com/entravel-raises-7-5m-to-take-crypto-travel-platform-mainstream/
Saturn partners with Ondo and receives strategic investment to expand tokenized structured credit products: https://x.com/saturn_credit/status/2087887301506728111?s=19
