Crypto markets broadly recovered after post-Fed rate-hike concerns eased, with Layer-2 scaling networks and DeFi (decentralized finance) tokens leading gains. Bitcoin rose 0.90% to $81,493 and Ether gained 2.71% to $2,641, helped by the SEC's five-year Innovation Exemption for tokenized NMS stocks and $143.8 million in spot Ether ETF inflows. RWA (real-world asset) and synthetic-dollar tokens outperformed: Tezos rose as much as 35.8% on regulatory classification tags, Ethena gained 22.5% after USDe and sUSDe expanded to TRON, and ONDO advanced 9.3% on the tokenized-equity pathway. More than $746 million in token unlocks begins this week, led by LayerZero, Connex and Bedrock, adding potential selling pressure while ZRO traded at $1.14, up 2.35%. Macro risks remained prominent after Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act, the Federal Reserve raised rates by 25 basis points to 3.75%-4%, Brent crude stayed above $100, and Morgan Stanley forecast two additional Fed hikes in 2026. Regulatory developments included CFTC (U.S. derivatives regulator) rulemaking submitted to White House OIRA on Sep. 17, Coinbase Derivatives' application for single-stock perpetual futures, conditional OCC (U.S. bank regulator) approval for Bastion's national trust bank charter, and South Korean calls to delay a January 2027 digital-asset tax. Markets are also watching U.S.-China trade talks, the expected Sep. 23-24 Trump-Xi summit, Global Flash PMI data on Sep. 23, U.S. existing-home-sales data on Sep. 24, durable-goods data on Sep. 25 and the White House review of CFTC crypto rulemaking.