The lack of major movement in digital assets at the end of August and early September is largely explained by the wait-and-see stance ahead of key macroeconomic data, which could influence central bank policy. Nonfarm payrolls fell from 79.0k to 22.0k versus 70.0k expected, unemployment rose from 4.2% to 4.3%, and CPI accelerated from 2.7% to 2.9% y/y and from 0.2% to 0.4% m/m, practically ensuring that the Federal Reserve will cut rates by 25 bps on September 17 (with the CME FedWatch Tool assigning a 92.5% probability). Analysts also consider the possibility of a 50 bp cut given the rapid cooling of the labor market, which significantly raises recession risks. According to CryptoQuant, whales withdrew a record 115,000 BTC in August worth $12.7 billion, pressuring the sector. While large wallets continued accumulating “digital gold,” BTC remained rangebound due to changing conditions in the derivatives market — still the key driver for its price action.

This week, SwissBorg confirmed a major security breach caused by a compromised API of its staking partner Kiln: hackers stole 193,000 SOL (about $41 million). According to the platform, losses affected less than 1% of clients and about 2% of managed assets. Management plans to use internal reserves to cover the damage. SwissBorg stressed its infrastructure remains secure and non-staking user funds are safe. In parallel, Ledger’s CTO Charles Guillemet warned of a supply chain attack in the JavaScript ecosystem: malicious code was injected into dozens of popular packages, redirecting crypto transfers to hacker wallets. These packages are downloaded over a billion times per week. Direct financial losses so far remain symbolic (~$50), but experts warn the risk is high, especially if such packages are embedded in crypto-related apps and services.

Meanwhile in the U.S., Congressman David Joyce submitted Appropriations Bill HR 5166 to the House of Representatives. A key provision requires the Treasury Department to prepare a comprehensive report on creating a national Bitcoin reserve and mechanisms for storing digital assets. Treasury Secretary Scott Bessent must present a detailed plan to Congress, including security protocols, interagency transfer procedures, and other safeguards. According to Watkins Legal founder Kurt Watkins, such a system could set industry-wide standards that institutional custodians would adopt.

Ripple continues to strengthen ties with traditional finance. The company announced a new agreement with Spanish bank BBVA, which is rolling out Ripple Custody — a platform for institutional-grade digital asset storage, covering BTC and ETH. The service integrates into BBVA’s newly launched crypto trading and custody offerings in Spain. XRP also gained momentum following news that the RLUSD stablecoin will expand into Africa through partnerships with fintechs Chipper Cash, VALR, and Yellow Card, enabling faster, cheaper, and more efficient cross-border transactions in regions where liquidity in local currencies remains a challenge.

Looking ahead, most leading crypto assets could either extend their gains or move into consolidation next week.