The price of Bitcoin and other cryptocurrencies wavered on Friday as investors weighed the White House’s latest round of tariffs against fresh signs of a weakening U.S. labor market. Bitcoin was recently changing hands around $115,500, a 2.1% decrease over the past day, according to crypto data provider CoinGecko. Ethereum fell 3.8% to $3,630, while
US nonfarm payrolls rose by only 73,000 in July, the weakest increase since October 2023. The unemployment rate rose to 4.2 percent. Employment growth in the last three months has been limited to an average of only 35,000 jobs. The labor force participation rate also declined for the second consecutive month. Employment data based on
U.S. stocks shed gains on Friday, with renewed trade war jitters and weak jobs data spooking investors and sending the Dow Jones Industrial Average down 500 points. Summary Stocks fell as investors reacted to latest jobs data report. The Dow Jones Industrial Average dropped more than 500 points, while S&P 500 and Nasdaq slipped 1.2%
While U.S. dollar-backed stablecoins continue to dominate the conversation, recent discussions with investors indicate a growing focus on the tokenization of real world assets (RWAs), including stocks, bonds, bank deposits, and real estate, Bank of America (BAC) said in a report Monday. According to BofA, this shift marks the beginning of a multi-year journey toward
According to breaking news, the US non-farm payroll and unemployment rate data that all financial markets have been waiting for has been released. The details of the data were determined as follows: 🔹 Unemployment rate: 4.2% (expected: 4.2%) 🔹 Nonfarm payrolls: +73K (expected: +110K) 🔹 Private sector employment: +83K (expected: +100K) 🔹 Hourly earnings (Y/Y):
Indonesia’s crypto tax revenue continues to rise, reaching as high as $36.40 million yearly. The government is preparing to hike up the tax rate for crypto transactions this month. According to data from the Directorate General of Taxes reported by local media outlet Tirto, Indonesia’s cryptocurrency tax revenue managed to reach between Rp500 billion ($31.25
Stablecoin issuer Tether has surpassed South Korea in the number of U.S. treasury bond holders after it issued more assets with total exposure to U.S. Treasuries. How much U.S. debt does the firm hold? Summary Tether’s U.S. Treasury reserves surpass South Korea, Germany and United Arab Emirates. Tether continues to generate net profit, reaching $4.9
The Pakistan government has recently made another crucial decision to induct crypto into the country’s mainstream financial sector. As per the latest reports, the Pakistani authorities are planning to increase the crypto incorporation by commencing official adoption in banking, gold trading, and forex operations. This development highlights the country says welcome to Web3 technologies in
Ethena’s synthetic stablecoin, USDe, has crossed $8.4 billion in supply, adding more than $3.14 billion over 20 days in a surge that outpaced flows into BlackRock’s (BLK) flagship bitcoin and ether exchange-traded funds. (Ethena) According to on-chain data curated by the Ethena community, the supply increase since July 17 is the fastest period of growth
The rapidly-expanding crop of public companies using their stock to accumulate digital asset treasuries ought to trigger lessons from history about the way compounded risks can spread through the financial system and then dramatically unravel, warns a report on the trend by Galaxy Digital. The growth model of Digital Asset Treasury Companies (DATCOs), which now