Regulatory clarity slips as monetary frameworks and institutional flows advance
Momentum split along two tracks. Washington's push for a unified crypto framework lost ground, with senators warning the CLARITY Act may not survive a September 15 cloture vote, even as the Federal Reserve and the Bank of Korea separately published research on how stablecoins interact with money supply and currency markets. Meanwhile capital kept moving into specific assets and chains - Zcash, Solana, XRP infrastructure, Robinhood Chain - and Anthropic pushed back its IPO timeline. A dispute over Robinhood's tokenized AMC shares, first reported earlier, continued.
The day's stories
Several stories tracked capital moving into specific chains and assets. Zcash broke above $1,000 for the first time since 2018, a roughly 20% move in 24 hours and near 100% over a month, while Grayscale's ZCSH spot ETF passed $400 million in assets within two weeks of launch and futures open interest hit records. Solana led all tracked networks with $348 million in net real-world-asset inflows over 30 days. Robinhood Chain posted a record $3.7 billion in 24-hour DEX volume, though an Arbitrum co-founder and Solana's co-founder disagreed publicly over whether Robinhood's revenue-sharing model or application-level monetization is the better approach for infrastructure providers. The Bank for International Settlements tested the XRP Ledger for verifying official statistics, and Ripple separately struck a branding deal with the University of Florida, while 21Shares pushed back on longstanding centralization criticisms of XRP. Away from crypto-native markets, Anthropic pushed its IPO prospectus from early to late September, with investor marketing now planned for mid-October and a possible listing, at an estimated $2 trillion valuation, before the November midterms.
CLARITY Act Faces Fading Bipartisan Support Ahead of September 15 Senate Cloture Vote
Republican senators warn the CLARITY Act may fail a Sept. 15 procedural vote as ethics disputes, scheduling constraints, and eroding bipartisan support threaten passage before midterm elections.
BIS Tests XRPL for Data Verification as Ripple Expands Institutional Partnerships
The Bank for International Settlements tested the XRP Ledger for verifying official statistics, while Ripple struck a branding deal with the University of Florida.
Robinhood Chain Hits Record $3.7 Billion in 24-Hour DEX Volume as Arbitrum Revenue Sharing Draws Debate
Robinhood Chain set a new all-time high of $3.7 billion in 24-hour DEX volume on September 5, while an Arbitrum co-founder and Solana co-founder clashed over the merits of Robinhood's revenue-sharing model.
Solana Leads RWA Net Flows With $348 Million in 30-Day Period
Solana attracted $348 million in net real-world asset flows over a 30-day period, leading all tracked blockchain networks.
Anthropic Delays IPO Prospectus to Late September, Eyes Mid-October Marketing and $2 Trillion Valuation
Anthropic has pushed its IPO prospectus from early to late September, with investor marketing now planned for mid-October and a possible listing before the November U.S. midterm elections.
Bank of Korea study finds dollar stablecoin demand can push local currencies lower
A Bank of Korea study found that when Binance introduced direct fiat-to-stablecoin pairs, local currency premiums fell and demand transmitted into foreign exchange markets.
Fed staff note proposes framework for classifying stablecoins in M1 or M2 money supply
Federal Reserve researchers outlined a framework for including payment stablecoins in US monetary aggregates, dependent on economic use and subject to reserve double-counting adjustments.
Zcash Breaks $1,000 for First Time Since 2018 as Grayscale ETF Surges Past $400 Million
Zcash surged above $1,000 on Sept. 4, its first breach of that level since 2018, while Grayscale's ZCSH spot ETF grew past $400 million in assets within two weeks of launch.
Developing from earlier
Robinhood's refusal to comply with AMC CEO Adam Aron's cease-and-desist demand over blockchain-linked AMC tokens continued to draw industry comment, with a new report on the dispute published this date. The disagreement tests whether public companies can control how third parties tokenize their shares, and which of three incompatible tokenized-stock models will prevail, along with what legal protections token holders actually get.
Robinhood rejects AMC demand to halt tokenized stock trading, sparking industry debate
Robinhood refused AMC CEO Adam Aron's cease-and-desist demand to stop trading blockchain-linked AMC tokens, triggering a wider industry dispute over which tokenized stock model should prevail.
Most covered subjects
Most covered topics
78 events that day, 13 of them written upAll events of this day