U.S. Nonfarm Payrolls Missed Expectations at 73,000 in July, Unemployment Rate Rises to 4.2%
According to Jinshi data, the U.S. nonfarm payrolls for July came in at 73,000. The market expectation was 110,000. Additionally, the previous month’s figure was revised down from 147,000 to 14,000, marking a significant downward revision. During the same period, the unemployment rate rose to 4.2%, exceeding both the expectation (4.20%) and the previous month’s figure (4.10%). These figures signal cooling in the labor market and have strengthened speculation about the Fed’s interest rate cut schedule.
Trump: Opposition Within the Fed Board is Growing
President Trump harshly criticized Fed Chairman Powell, saying that if he does not cut interest rates, the Board should take control. Trump called Powell a “dumb and stubborn” person and said that interest rates should be lowered quickly.
Fed Member Bowman: Gradual Interest Rate Cuts Appropriate as Growth Slows
Fed Board Member Michelle Bowman said that gradual interest rate cuts are becoming more appropriate as economic growth slows. This statement shows that a softer tone is gaining ground within the Fed on interest rate policy.
Virtu Financial Increases BTC Holdings to 410
Singapore-based market maker Virtu Financial purchased 175 Bitcoin in the second quarter of 2025, bringing its total BTC holdings to 410. This marks a significant expansion of the company’s crypto reserve strategy.
UK FCA to Allow Retail Investors Access to Crypto ETNs Starting October 8
The UK Financial Conduct Authority (FCA) has announced that securities (ETNs) traded on cryptocurrency exchanges will be made available to retail investors. Crypto ETNs will only be tradable on FCA-approved investment exchanges. The retail ban on crypto derivatives will remain in place.
Tether Surpasses South Korea in US Treasury Holdings; Now 18th Largest Holder
Tether surpassed South Korea with a US Treasury portfolio of $127 billion, rising to 18th place in terms of bond holdings. Tether’s net profit for the second quarter of 2025 was $4.9 billion, while its total profit for the first half of the year reached $5.7 billion.
Hong Kong Monetary Authority Issues Stablecoin Warning: Unlicensed Tokens Are Risky
The Hong Kong Monetary Authority (HKMA) announced that holding unregulated stablecoins is entirely at individual risk under the newly implemented “Hong Kong Stablecoin Regulation.” The HKMA stated that it will adopt a “firm but stable” approach and reminded the public that statements misleading the public are illegal. Claims of fake licenses will result in criminal liability.
IMF: Some Crypto Assets to Be Classified as “Unproduced Non-Financial Assets”
The IMF announced that some crypto assets will be classified as “unproduced, non-financial assets” under the updated System of National Accounts (SNA). These assets will not be included in GDP calculations but will be included in national wealth indicators.
El Salvador Approves President Bukele’s Indefinite Candidacy
El Salvador has paved the way for President Nayib Bukele to run for re-election indefinitely. Under the new law, the presidential term has been extended to six years. The opposition has described the decision as a sign of authoritarian tendencies.
Coinbase’s Q2 revenue fell 26% from the previous quarter, while trading volume declined 39%. In retail trading, XRP surpassed Ethereum to take the top spot with 13% of revenue.
Japanese company Metaplanet has filed for a 555 billion yen preferred share offering to increase its Bitcoin reserves. The offering includes Class A and B shares.
SharpLink: ETH Concentration Increased by 70%
SharpLink Gaming announced that the amount of ETH per 1,000 shares has increased from 2.0 to 3.4 since launching its Ethereum treasury strategy. This represents a 70% increase.
Solv Protocol Launches 400 BTC BTC+ Yield Vault
Solv Protocol has launched its new BTC+ product. This structured product, limited to a total of 400 BTC, does not charge a performance fee and includes a $100,000 reward pool.
Belgravia Hartford Increases BTC Holdings to 83.15
Belgravia Hartford, listed in Canada, has purchased an additional 42.38 BTC, increasing its total BTC reserves to 83.15.
Glassnode: Over 90% of BTC Supply in Profit, High Risk of Sales
According to Glassnode, over 90% of Bitcoin’s supply is in profit. This indicates that profit-taking pressure is intensifying and increasing the risk of a price correction.
STH-Oriented Sales Are Increasing, 85% of Spending on the Chain Is from Short-Term Investors
According to Glassnode, most of the BTC sales in the last 24 hours came from short-term investors. This indicates that the current selling wave was triggered by “profit-taking.”
$1.16 Billion in Funding in the Crypto Primary Market in July
According to Root Data, the crypto primary market raised $1.16 billion in July through 67 funding events. Notable transactions included Pump.fun’s $500 million public funding, Polymarket’s acquisition of QCEX, and Agora’s $50 million Series A investment.
Plugman to Release 5,000 NFTs on ZetaChain
Plugman will mint a total of 5,000 cross-chain NFTs on ZetaChain on August 1. 40% of the NFTs will be allocated to Zeta users, 40% to community members, 10% for incentives, 5% to the team, and 5% for free distribution.
