Crypto markets on Aug. 31 were led by a cluster of stories around Robinhood Chain activity, tokenized stock trading, and U.S. crypto legislation. Robinhood Chain posted $945 million in single-day DEX volume on Aug. 29, setting a new all-time high and moving above its previous peak from mid-July. Token Terminal said the seven most actively traded tokenized stocks all sit on either BNB Chain or Robinhood Chain, generating a combined $4.3 billion in DEX volume over the past 30 days. Pons, a token launch platform active on Robinhood Chain, said it has paid $20.93 million to token creators over the past 47 days, while Dune data showed 23,080 tokens were deployed on Robinhood Chain on Aug. 29, with Pons V2 accounting for 15,957 of them, or about 69.1%. The broader news flow also included a planned Sept. 15 procedural vote in the U.S. Senate on the CLARITY Act, new governance and infrastructure updates from Hyperliquid, Solana and Deribit, multiple security incidents across Cosmos-linked and other networks, and a series of market comments from figures including Tom Lee, Ki Young Ju, Ansem and Bonk Guy. In spot trading, UNI was the only gainer among the listed top-10 CEX turnover tokens, up 11.2%, while ZORA led the OKX 24-hour gainers with a 33.52% rise.

BitGo said it has completed the acquisition of NYDIG’s institutional trading business in a cash-and-stock deal worth about $42.5 million, adding derivatives, structured products, and capital markets capabilities. Roughly 30 NYDIG employees and related institutional client relationships will move to BitGo. Binance, meanwhile, said it will list a NIULAI USDT perpetual contract at 19:30 on Aug. 30 Beijing time with leverage of up to 10x. The PANews daily roundup also covered a security report from Cosmos Labs on an EVM module vulnerability that affected six networks, comments from Tether CEO Paolo Ardoino pushing back on criticism from the Bank for International Settlements, and market views from CryptoQuant analyst Darkfost, Arthur Hayes, JackYi, and Jiang Zhuoer. Other items included Ajna v2’s reported exploit, Polygon’s urgent client upgrade notice after the Austin and Kyoto hard forks, SK Telecom’s plan to spin off its AI data center arm, and trading data from South Korea’s top crypto exchanges.

The Independent Community Bankers of America, which represents about 5,000 U.S. community banks, is opposing the Digital Asset Market Clarity Act, or CLARITY Act, according to ChainCatcher. ICBA President and CEO Rebeca Romero Rainey said what she described as a loophole tied to stablecoin rewards must be fully closed, adding that there is no middle ground on the issue. The group argues that stablecoins could pull $1.3 trillion in deposits out of the banking system and reduce local lending by $850 billion. ICBA has also pushed Republican senators Josh Hawley and Jerry Moran to oppose the bill in its current form. Romero Rainey said there is no sign that crypto would replace those deposits and send them back into local communities. She also criticized a White House Council of Economic Advisers report titled “The Effect of Prohibiting Stablecoin Yield on Bank Lending,” saying it downplayed banks’ concerns about deposit outflows. The Senate is scheduled to vote on the CLARITY Act on Sept. 15. If the bill fails to secure at least 60 votes, it will not move to the next stage of consideration and could stall for the foreseeable future.

The Independent Community Bankers of America, which represents about 5,000 U.S. community banks, is pushing back against the Digital Asset Market Clarity Act, or CLARITY Act. ICBA President and CEO Rebeca Romero Rainey said loopholes tied to stablecoin rewards should be closed completely, with no compromise. The group argues that stablecoins could pull as much as $1.3 trillion in deposits out of the banking system and reduce local lending by $850 billion. ICBA also said it helped persuade Republican Senators Josh Hawley and Jerry Moran to oppose the current version of the bill. Rainey added that there is no sign crypto would replace those deposits in a way that sends money back into local communities. She also criticized a Council of Economic Advisers report titled Impact of Stablecoin Yield Ban on Bank Lending, saying it downplayed banks’ concerns about deposit outflows. The Senate is scheduled to vote on the CLARITY Act on Sept. 15. If the bill fails to win at least 60 votes, it will not move to the next stage of consideration and could stall for the foreseeable future, according to Bitcoin.com News.

Samarra Hammoud, a currency strategist at Commonwealth Bank of Australia (CBA), expects Federal Reserve Chairman Warsh's speech at the Jackson Hole symposium to be aimed at four main objectives. The first objective, she said, is to restore market confidence in the Fed's commitment to containing inflation. The second is to ease the market's concerns over fiscal dominance. The third, according to Hammoud, is to persuade market participants that reducing dependence on forward guidance will not undermine financial stability. And the fourth is to boost market confidence in the Fed's various working groups. Hammoud noted that these goals are quite ambitious, and the market should take a skeptical stance, as communication alone is unlikely to accomplish all of them. Given Warsh's apparent reluctance to use forward guidance, market participants might consider his rhetoric on inflation insufficiently tough. Under those circumstances, the U.S. dollar could potentially weaken. Jinshi carried the remarks.

SanDisk laid out an aggressive long-term financial model at its 2026 investor day, telling investors it expects mid- to high-double-digit revenue growth from fiscal 2028 through fiscal 2030, alongside roughly 80% non-GAAP gross margin and about 75% operating margin. The company also said it would manage sellable bit output based on profitability rather than volume alone, and return 100% of excess cash to shareholders after funding business investment needs. The market reacted quickly. SanDisk rose as much as 17.6% intraday on Thursday and finished up nearly 14%. Other storage names moved higher as well, with SK Hynix and Western Digital up more than 7%, Seagate Technology up nearly 5%, and Micron Technology gaining more than 4%. Management also pointed to a shift in the NAND business model. SanDisk said it has signed new business model agreements with eight customers, covering about 50% of fiscal 2027 bit shipments and about two-thirds of fiscal 2028 bit shipments. The company tied its confidence to AI inference demand, projected enterprise data center flash TAM at 1.2 zettabytes by 2030, and highlighted work on high-bandwidth flash and newer BiCS technologies.

Samsung Electronics, SK hynix and Micron Technology have all posted record quarterly results, yet their shares have pulled back over the past month as investors question whether the memory sector is heading toward the familiar boom-bust pattern of rising prices, aggressive capacity additions, oversupply and collapse. Public disclosures and comments from executives suggest this cycle is different in one important way: spending is rising, but the new capacity is being directed mainly toward AI products such as HBM and server DRAM rather than broad-based expansion across end markets. At the same time, the three suppliers are shifting away from quarterly pricing and into three- to five-year supply agreements that include floor prices, take-or-pay commitments, prepayments, deposits and, in some cases, minimum revenue guarantees. Micron has disclosed 16 five-year strategic customer agreements, while Samsung said it plans to place 60% to 70% of capacity under multi-year contracts. Industry researchers and company executives cited in the report expect supply tightness to extend through 2027 and potentially into 2028, with EUV delivery times and wafer reallocation to HBM limiting near-term relief. The article also points to a second layer of change after 2028: how quickly new capacity arrives, whether long-term contracts can keep earnings stable even if spot prices soften, and how much influence CXMT and domestic Chinese suppliers gain in consumer DRAM, LPDDR and eventually HBM-related manufacturing chains. Those factors, rather than the current price spike alone, may determine whether the sector truly breaks from its historical “death spiral.”

Coinbase Asset Management has introduced CUSHY, an on-chain digital credit strategy built on Superstate’s FundOS with tokenized fund shares across Solana and Base, expanding its push into tokenized credit and yield products.