US Employment Data Revised Downward by 911K
The US Labor Department stated that non-farm payrolls in the 12 months to March 2025 were 911 thousand fewer than in previous announcements. This means an average monthly decline of 76 thousand. The slowdown in the labor market strengthened the ground for the Fed to start rate cuts next week. While tariff pressure, immigration restrictions and automation negatively affect employment, economists predict that the Fed will cut interest rates at the September meeting.
US Supreme Court to Hear Trump Tariff Case
The Supreme Court accepted the Justice Department’s appeal of the D.C. Court of Appeals’ decision finding Trump’s use of the 1977 IEEPA law to impose tariffs illegal. The Court placed the case on an expedited calendar and announced that oral arguments will be held in the first week of November. In the meantime, the tariffs will remain in place. The decision will be closely monitored by the markets in terms of trade policy and inflation outlook.
Fed Nominee Milan’s Confirmation Process Remains Uncertain
The Senate Banking Committee will vote on Milan’s nomination this week. It is expected to pass thanks to a 13-11 majority of Republicans in the committee, but it is unclear when the vote could take place in the full Senate. Senator Cynthia Lummis said Milan might not make it to the September 16-17 FOMC meeting. Even if he is confirmed, it seems unlikely that he will have a vote at the meeting, as Trump’s signature and swearing-in process could take several days.
Court Ruling: Cook Can Vote at FOMC
US Federal Judge Jia Cobb temporarily blocked President Trump from dismissing Fed Board Member Lisa Cook. Thus, Cook was allowed to continue her duties during the lawsuit and vote at the upcoming FOMC meeting. However, the final decision of the case will be made by the Supreme Court. This process is critical for the balance of decisions within the Fed.
US Congress Prepares for China Visit
A group of members of the House of Representatives will pay an official visit to China later this month. This will be the first official visit since 2019. Democratic and Republican members will join the delegation, but Committee Chairman Mike Rogers will not attend. The visit is considered as a new ground for dialog, especially in trade and security relations.
Tensions in the Middle East: Israel Targets Hamas Leader in Qatar
An Israeli airstrike on a Hamas political leader in Qatar killed five people, including the son of senior Hamas figure Khalil al-Hayya. The US said the attack was unannounced and not in line with US interests. Qatar is also home to Al Udeid Air Base, the largest US military base in the region. This development could increase diplomatic tensions in the US-Israel-Qatar triangle.
Metaplanet to Buy BTC with $1.4 Billion in Funds
Metaplanet raised about $1.4 billion by issuing 385 million additional shares. Of this, 183.7 billion yen (≈$1.24 billion) will be used to buy Bitcoin in September-October. It will add to the company’s existing reserve of 20,000 BTC, while 20.4 billion yen (≈$138 million) will be allocated to revenue-generating activities such as options trading. It was also announced that Nakamoto will invest $30 million in this funding.
GameStop Holds 4,710 BTC, Narrows Losses
According to Decrypt, GameStop announced that it held 4,710 BTC in the second quarter and wrote down $28.6 million in unrealized gains. The company’s net loss narrowed to $18.5 million from the previous quarter. Revenues declined to $674 million, while hardware and software sales fell and the share of collectibles increased. It also issued $270 million of convertible bonds and sold its Canadian and French operations.
China’s August CPI Data Slipped into Negative Territory
China’s consumer price index (CPI) fell 0.4% year-on-year in August 2025, according to the National Bureau of Statistics. Urban prices fell by 0.3% and rural prices by 0.6%, while food prices decreased by 4.3% and non-food prices increased by 0.5%. On a monthly basis, there was no change, while CPI fell by 0.1% on average in the January-August period. Data points to continued deflationary pressures.
Nakamoto to Invest $30 Million in Metaplanet
Nakamoto announced that Metaplanet will invest $30 million by participating in an international share issue. This is the company’s first investment in Asia and its largest one-time capital contribution. Nakamoto aims to strengthen Metaplanet’s Bitcoin-focused strategy by connecting it to the global financial network.
Grayscale Files BCH, LTC and HBAR ETF Applications
According to SEC documents, Grayscale filed an S-3 registration application for Bitcoin Cash Trust (BCH) and Litecoin Trust (LTC) and an S-1 application for Hedera Trust ETF. This step shows that the diversification of altcoin-focused ETF products is accelerating.
Eric Trump Loses Alt5 Sigma Board Membership
According to Forbes, Eric Trump did not join Alt5 Sigma’s board of directors as planned and will only serve in an “observer” capacity. The decision, made after discussions with Nasdaq, is attributed to transparency and conflict of interest concerns. Alt5 Sigma previously announced plans to raise $1.5 billion in funding for the Trump family-linked WLFI token issuance.
Ethena Labs Publishes Proposal for USDH Stablecoin Issuance on Hyperliquid
Ethena Labs has submitted a proposal for the issuance of USDH stablecoin on Hyperliquid. USDH is initially planned to be 100% backed by USDtb, with 95% of the net proceeds going to the Hyperliquid community. In addition, Ethena will bear the costs of switching from USDC to USDH.
Google Launches AI Plus Package in Indonesia
Google has launched its new AI Plus suite in Indonesia. The bundle includes creative tools such as Gemini 2.5 Pro, Flow, Whisk, Veo 3 Fast, as well as integrations with Gmail, Docs, Sheets and NotebookLM. Users also get 200 GB of Google One storage.
23 Million $ Inflows in Bitcoin Spot ETFs
According to SoSoValue data, there was a total inflow of $23 million into Bitcoin spot ETFs on September 9. BlackRock’s IBIT ETF led the way with inflows of $169 million, while Ark Invest and 21Shares’ ARKB ETF saw outflows of $72 million. Total asset value was $144.3 billion.
Ethereum Spot ETFs End 6-Day Outflow Streak
Ethereum spot ETFs saw inflows of $44 million on September 9. BlackRock’s ETHA ETF alone covered this amount. Thus, the total asset value reached $27.39 billion and the ratio to ETH market capitalization reached 5.27%.
