TL;DR
U.S. Index Performance: Major U.S. equity benchmarks rebounded following the previous week’s pullback. The S&P 500 rose 0.49% to 7,711.76 (from 7,674.37), the Nasdaq Composite gained 0.85% to 26,402.42 (from 26,180.46), and the Dow Jones Industrial Average advanced 0.53% to 53,559.99 (from 53,277.01).
Equity Market Drivers: U.S. equities remained supported by resilient corporate earnings and continued strength in technology stocks. However, late-week momentum moderated following hawkish Federal Reserve commentary, reinforcing the Fed’s focus on maintaining restrictive policy to contain inflation.
Crude Oil Pullback: Oil prices retraced following a two-week rally as near-term concerns over shipping disruptions in the Strait of Hormuz eased. Brent crude declined 4.8% to US$90.60 per barrel (from US$95.21), while WTI fell 4.0% to US$84.06 per barrel (from US$87.53).
Treasury Yields Consolidate: The 10-year U.S. Treasury yield remained broadly range-bound, declining 1 basis point to 4.73% (from 4.74%). Bond markets continued to balance elevated Treasury issuance against expectations for a persistently restrictive monetary policy stance.
Gold Holds Elevated Levels: Spot gold declined 3.2% to US$4,454.99 per ounce (from US$4,602.99). Despite continued central bank demand and geopolitical risk hedging, gold consolidated above its prior breakout level before experiencing a sharp correction on Friday following hawkish Fed commentary.
Bitcoin Treasury Activity: STRC recorded approximately US$798M in weekly trading volume and recovered to around US$97. Michael Saylor also indicated that Strategy may be preparing for its first Bitcoin purchase since June 22, highlighting continued institutional demand for Bitcoin exposure.
UNI Outperforms: UNI gained 15.9% over the week, supported by record weekly swap activity and V4 fee generation. The increased protocol revenue has strengthened market expectations around potential token burns and improved long-term value capture.
Stablecoin Expansion in Europe: Revolut launched its MiCA-compliant EURR stablecoin across three European markets, further expanding regulated euro-denominated stablecoin infrastructure in the region.
Hong Kong Stablecoin Infrastructure: Standard Chartered became the first banking distributor of Hong Kong’s regulated HKDAP stablecoin, marking a further step toward institutional distribution and adoption of regulated digital assets.
Fasset Fundraising: Fasset raised US$68M at a US$1B valuation to expand its stablecoin-powered banking network, underscoring continued investor interest in stablecoin-based financial infrastructure.
Macro Overview
Equities Rebound as Energy Shock Eases, Though Fed Hawkishness Limits Upside
Global financial markets stabilized during the week ending August 28, 2026, recovering from the prior week’s risk-off pullback. U.S. equities posted modest broad-based gains, led by technology and communication services, as a sharp drop in crude oil prices reduced immediate energy-driven inflation anxieties. The S&P 500 gained 0.49% to 7,711.76, while the tech-heavy Nasdaq Composite rose 0.85% to 26,402.42.
Market momentum was influenced by shifting central bank expectations and commodity movements. Early-week optimism was propelled by solid corporate earnings from the enterprise technology sector and relief in global logistics channels. However, momentum stalled on Friday after central bank comments reinforced that interest rates would remain restrictive for longer to guarantee inflation falls back to target levels, pressuring growth multiples late in the session.
In commodity markets, oil experienced a significant downward repricing following a ~4% weekly decline. Geopolitical tension around the Strait of Hormuz saw temporary diplomatic stabilization, leading traders to unwind short-term geopolitical risk premiums. Brent crude fell to US$$ 90.60 per barrel, while WTI crude dropped to U$$ 84.06 per barrel.
In fixed income and currency markets, sovereign bond yields traded within a tight band. The U.S. 10-year yield finished virtually flat at 4.73%. The U.S. Dollar Index (DXY) rebounded 0.85% to 99.68, benefiting from relative interest rate differentials and safe-haven flows during Friday’s late-session equity volatility. Spot gold dropped dramatically on Friday, closing at US$ 4,454.99 per ounce, due to the Fed Reserve’s Hawkish view on interest policy. (1)
Asset Class Highlights
U.S. Dollar Index
U.S. Dollar Index (DXY)
The U.S. Dollar Index (DXY) rose 0.85% over the week to close at 99.68 (up from 98.84). Greenback demand was supported by hawkish Fed policy messaging and a retreat in European currencies. (2)
U.S. 10-Year Treasury Yield
U.S. 10-Year Treasury Yield
Fixed-income yields stabilized after recent volatility, 10-year Treasury Yield settled at 4.73% (down 1 bps from 4.74% the prior week). Rates remained elevated across long-duration maturities amidst ongoing fiscal debt issuance digestion. (3)
Gold
Gold
Spot gold (XAU/USD) demonstrated strong underlying demand, holding near record territory. Closed at US$$ 4,454.99 per ounce (-3.2%, U$$ 4,602.99). (4)
Crypto Markets Overview
Main Assets
ETH/BTC Ratio
BTC declined 3.2% over the week, while ETH fell 1.9%. Despite the pullback, BTC and ETH ETFs recorded net inflows of US$924.4M and US$824M, respectively. (5)
Market sentiment remained in the Greed zone at 62, cooling slightly from 73 last week. (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 declined 0.9%, while market cap excluding BTC and ETH fell 2.6%. The broader altcoin market outside the top 10 saw a steeper 3.2% decline.
STRC Performance
STRC recorded US$798M in trading volume last week and recovered to around US$97, though it remained below its US$100 par value.
Michael Saylor’s "We’re Back" post also hinted that Strategy could resume Bitcoin purchases for the first time since June 22, suggesting that its recent balance-sheet strengthening may have created room for renewed accumulation. (7)
On Polymarket, traders assigned a 43% probability that STRC would reach US$100 by September 30. (8)
Top 30 Crypto Assets Performance
Source: CoinMarketCap and Gate Ventures, as of 31st Aug2026
The top 30 cryptocurrencies declined 2.1% on average last week, XMR and UNI are the top performers.
UNI led weekly gains, rising 15.9%, as Uniswap recorded a record 28.9M weekly swaps and V4 fees reached an all-time high of US$15.2M. The surge in protocol activity strengthened expectations for greater fee-driven UNI burns and token value capture. (9)
The Key Crypto Highlights
Revolut launches MiCA-compliant EURR stablecoin across three European markets
Revolut has begun rolling out EURR, its first euro-pegged stablecoin, to around 2 million customers in Denmark, Poland and Portugal, with wider EEA expansion planned later this year. Issued by Stripe-owned Bridge under MiCA, EURR will initially launch on Ethereum and support external-wallet transfers, with multi-chain integration planned. The rollout strengthens Revolut’s on-chain payments strategy as it phases out USDT in Europe and explores stablecoins denominated in other currencies. (10)
Standard Chartered becomes the first bank distributor of Hong Kong’s regulated HKDAP stablecoin
Standard Chartered Bank (Hong Kong) has become the first bank authorized to distribute HKDAP, the HKD-backed stablecoin issued by Anchorpoint Financial. The phased rollout will initially target eligible institutional clients for tokenized fund settlement, treasury management and cross-border payments, with money market fund subscriptions and settlements planned for Q4. The partnership brings HKDAP into conventional banking channels and marks a key step toward institutional stablecoin adoption in Hong Kong. (11)
SEC advances crypto custody rule overhaul for investment advisers and funds
The SEC has submitted proposed amendments to its custody rules for White House review, seeking to clarify how investment advisers and funds can hold crypto assets for clients under federal securities laws. The proposal has not yet been published and must return to the SEC for a vote before entering public consultation. The move signals the agency’s broader shift from enforcement-led oversight toward formal crypto rulemaking, particularly as the CLARITY Act remains stalled in the Senate. (12)
Key Ventures Deals
RQD Clearing raises US$74M to expand digital asset and tokenization infrastructure
RQD Clearing is a U.S. clearing and custody infrastructure provider serving broker-dealers and institutional financial firms. The company has raised US$74 million in a funding round led by Bain Capital, with participation from ABN AMRO Clearing Bank and Nyca Partners. The proceeds will support the expansion of its digital asset and tokenization infrastructure, including custody solutions for blockchain-based assets used by financial institutions. (13)
Chomp raises US$3.6M to scale its social consensus and crowdsourced intelligence platform
Chomp is a social consensus platform that uses quiz-style participation and Wisdom of the Crowd mechanisms to aggregate user opinions and identify the most likely answers to questions. The company has raised US$3.6 million in a funding round co-led by BlueYard and Jsquare, with participation from investors including Accomplice, Big Brain Holdings, Caballeros Capital, Reverie and No Limit Holdings. (14)
Fasset raises US$68M at a US$1B valuation to scale its stablecoin-powered banking network
Fasset is a stablecoin-powered financial platform that enables consumers and businesses to hold, send, spend and invest across currencies and assets, using stablecoins as the underlying settlement rail. The company raised US$68 million in a round led by Japan’s SBI Group at a US$1 billion valuation, bringing its total funding this year to US$119 million. The proceeds will support the expansion of its OWN Network, AI-powered transaction routing systems and payment corridors across Japan, Asia and emerging markets. (15)
Ventures Market Metrics
There were 15 deals closed last week, with Infrastructure accounting for 12, while Social, Data, and DeFi recorded one deal each.
Weekly Venture Deal Summary, Source: Cryptorank and Gate Ventures, as of 31st Aug2026
Total disclosed funding reached $221.1M, with four deals not disclosing their funding amounts. RQD* Clearing raised the largest round at $74M, while Infrastructure was the top-funded sector with $209.5M raised in total.
Weekly Venture Deal Summary, Source: Cryptorank and Gate Ventures, as of 31st Aug 2026
Total weekly fundraising declined to $221.1M for the fifth week of August 2026, a decrease of 22% compared to the week prior.
About Gate Ventures
Gate Ventures, the venture capital arm of Gate, 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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Reference
https://www.jhinvestments.com/weekly-market-recap#market-moving-news
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/
Strategy Buyback Hints: https://x.com/saylor/status/2094033266906955896?s=20
STRC vote on Polymarket: https://polymarket.com/zh-hant/event/strc-hits-100-by-20260618001620693
Uniswap Protocol Performance: https://coinmarketcap.com/community/articles/6a8dd6f5939f8a33c96f1c96/
Revolut launches MiCA-compliant EURR stablecoin across three European markets: https://cointelegraph.com/news/revolut-eurr-euro-stablecoin-europe-rollout
Standard Chartered becomes the first bank distributor of Hong Kong’s regulated HKDAP stablecoin: https://cointelegraph.com/news/standard-chartered-hkdap-stablecoin-distribution
SEC advances crypto custody rule overhaul for investment advisers and funds: https://cointelegraph.com/news/sec-crypto-custody-rules-investment-firms-white-house
RQD Clearing raises US$74M to expand digital asset and tokenization infrastructure: https://www.coindesk.com/business/2026/08/27/clearing-firm-rqd-raises-usd74-million-as-wall-street-prepares-for-tokenized-markets
Chomp raises US$3.6M to scale its social consensus and crowdsourced intelligence platform: https://x.com/chompdotfyi/status/2092981969122467951
Fasset raises US$68M at a US$1B valuation to scale its stablecoin-powered banking network: https://www.coindesk.com/business/2026/08/22/stablecoin-neobank-fasset-lands-usd1-billion-valuation-as-sbi-backs-its-payments-push
