US Employment Data Strengthens Expectations for Interest Rate Cuts, Eyes on Nonfarm Payrolls
August ADP came in below expectations at +54k, while initial jobless claims rose to 237k and continuing claims hovered near 1.94 million. Weakening employment signals reinforced market pricing for a 25 bp cut in September, and the possibility of a total 75 bp easing by year-end became apparent. Weakness concentrated in trade/transportation/infrastructure and education/healthcare and manufacturing, while gains were seen in leisure/hospitality and construction.
Tone Difference at the Fed: Williams Dovish, Harker Hawkish, Goolsbee Calls It a “Lively Meeting”
NY Fed President Williams said that cuts were “becoming appropriate” in reference to employment risks and that the balance of risks was shifting toward the upside. Cleveland Fed’s Harker opposed a September cut, emphasizing that inflation was still high and pointing to corporate price pressures. Chicago Fed’s Goolsbee, noting that the tariff effect is diverging by sector, described September as a “live meeting.”
Trump Met with Tech CEOs at the White House; Musk Did Not Attend
Musk did not attend the dinner, which included names such as Zuckerberg, Nadella, Pichai, Tim Cook, Lisa Su, and Sam Altman; the White House reported that a representative attended.
The meeting highlighted public-private dialogue on strategic topics such as artificial intelligence, security, and supply chains. Markets are watching the tone of the meeting in terms of technology policies and the regulatory agenda.
BTC and ETH Options Are Expiring
According to Greeks. Live data, 30,000 BTC options have a put/call ratio of 1.41, maximum pain at $112,000, and a total notional of $3.4 billion. 300,000 ETH options have a put/call ratio of 0.77, maximum pain at $4,400, and a notional of $1.29 billion. The close could determine whether the $105–110,000 open interest (OI) concentration in BTC will break and whether the call concentration above $4,500 in ETH will trigger a move
Trump to Europe: Stop Buying Russian Oil; Apply Economic Pressure on China
According to a White House official, Trump requested during talks with European leaders that Russian oil purchases be halted and emphasized that China should be pressured economically in response to its funding flow to Russia. He also reiterated his request for a swift decision from the Supreme Court regarding the authority to remove Fed Chair Cook. A synchronized pressure strategy between foreign policy and trade/energy policy is emerging.
10 BTC Donated to Ukraine-Related Address
According to Lookonchain, a whale sent 10 BTC, worth approximately $1.108 million, to a Ukraine-related address. The donation was quickly detected thanks to on-chain traceability. Such large one-off transfers can have a limited but symbolic impact on market liquidity.
Marathon (MARA) Produced 705 BTC in August; Stockpile at 52,477 BTC
The company mined 208 blocks during the month; slightly increasing production compared to July amid a rise in the global hash rate. No BTC sales were made in August; the balance sheet accumulation strategy was maintained. Despite hash price volatility, scale and efficiency support MARA’s margins.
SEC Unveils Crypto Policy Agenda: Exemptions and Exchange Access on the Table
According to Reuters, the SEC has put exemptions and safe harbors for crypto issuance/sales and rules for crypto trading on national exchanges and ATSs on its agenda. The agenda also includes simplifying Wall Street disclosure requirements and reducing compliance burdens. The SEC’s approach, which has previously dismissed some major cases, is strengthening expectations for regulatory clarity in the market.
DOJ Launches Criminal Investigation into Fed Member Cook; Miran Promises Independence at Confirmation Hearing
The Justice Department is investigating allegations of possible misrepresentation in Cook’s mortgage applications through subpoenas. Fed governor nominee Stephen Miran pledged during his confirmation hearing to uphold the Fed’s independence and take unpaid leave from the White House. Miran argued that tariffs do not create permanent inflation and that Trump’s policies and border tightening are deflationary.
Tether in Talks to Invest in Gold Supply Chain
According to the Financial Times, Tether is evaluating investment options in the gold value chain, which includes mining, refining, trading, and royalty companies. The company is reportedly in talks with some royalty firms for revenue-sharing agreements. The potential move could target reserve diversification and commodity-linked revenue streams.
UK Plans to Tighten AML Rules for Crypto Companies
The Treasury’s draft deepens FCA oversight by expanding the “fit and proper” test and lowering the control change notification threshold from 25% to 10%. Updates are anticipated in areas such as customer identification, trust registration, correspondent banking, and digital identity verification. Comments will be collected until September 30, with regulations expected to be presented to Parliament in early 2026.
According to Solid Intel, the SEC has pushed back the decision date on 21Shares’ spot SUI ETF application. The reason is the need for more time to evaluate the proposed rule change and the issues it raises. The extended decision timeline indicates a continued cautious regulatory stance on new L1/L2 assets.
Arbitrum Launches $80 Million ARB (≈$40M) Incentive for DeFi
The first phase of the “DeFi Renaissance” program focuses on circular borrowing strategies that aim to increase returns with repeated collateral. Eligible markets and collateral include mainstream strategies, including Pendle derivatives. With the ARB price down 80% from its peak, the reward model could increase the risk of token inflation in the short term.
Justin Sun’s Wallet Blacklisted After $9M WLFI Transfer
According to The Block, WLFI blacklisted Sun’s wallet, blocking 545 million unlocked and 2.4 billion locked tokens; the price had fallen before the decision. Sun wrote that they only tested exchange deposits with small amounts, did not trade, and had no market impact. The incident triggers new debates about blacklisting at the protocol level, balancing investor protection and property rights.
Whales and Institutions Accumulated 218,800 ETH (≈$943M) in 2 Days
According to Lookonchain data, BitMine, BitGo, and Galaxy Digital purchased a total of 69,603 ETH (≈$300M). Five new wallets also withdrew approximately 102,455 ETH (≈$442M) via FalconX; the remaining volume was distributed to other addresses. The accumulation wave indicates continued ETF/institutional demand and custody-oriented flows.
Major ETH Flow on the Chain: BlackRock Invested, Bitwise Withdrew
Over the past 24 hours, BlackRock invested approximately 33,884 ETH (≈$148.6 million), while Bitwise withdrew approximately 38,709 ETH (≈$167.2 million). Three new wallets also drew attention with a total withdrawal of 22,397 ETH (≈$96.7 million). The flows indicate ongoing rebalancing and custody restructuring in the ETF/institutional channel.
Interchain Labs Renamed “Cosmos Labs”
The Cosmos ecosystem foundation, ICF, announced that the affiliated entity has been rebranded as Cosmos Labs. The core team will focus on developing and promoting the Cosmos technology stack. The name change aims to simplify the ecosystem’s identity and provide clarity in external communications.
79.54 Million Tokens Distributed from the Largest Individual Wallet on WLFI
According to on-chain analysis, the TOP1 individual WLFI holder transferred 79.54 million WLFI to 9 addresses within 18 hours. While a small sale was observed at one of the addresses, no selling activity was detected at the others. The market is watching to see if the distribution is a preparation for a sale or a wallet/risk distribution move.
Linea Heads for Community-First Token Launch on September 10
Ethereum L2 Linea is rejecting VC allocation and dedicating 85% of the distribution to ecosystem growth, planning to airdrop 6.48 billion tokens to over 780,000 users. Approximately 1% will go to strategic developers, and 75% will go to a consortium-managed ecosystem fund. The model emphasizes community ownership, referencing Ethereum’s initial distribution principles.
South Korea Caps Crypto Loan Interest at 20%; Prohibits Leveraged Loans
The FSC’s new guidelines clarify the scope of virtual asset lending services while expanding user protection measures. The interest rate cap and leverage ban aim to limit excessive risk-taking. The regulation aims to create standardization in the local market in light of global examples.
Chainlink Reserve Increases by 43,938 LINKS; Total ≈237,014 LINK
Chainlink Reserve announced that it added approximately 43,938 LINKS to its reserve in an update on September 4, bringing the total to 237,014. The program aims to accumulate LINK by leveraging off-chain and service revenues from institutional adoption. The goal is to support the network’s long-term sustainability and value accumulation.
Thumzup Plans to Transition to DOGE Mining; 3,500 Devices on the Agenda
Thumzup, a media company in which Trump Jr. is a shareholder, shared its strategic transition plan to DOGE mining by acquiring Doge Hash. The company made a $1 million BTC purchase, and the board of directors authorized 2,500 DOGE miners to increase DOGE/LTC/SOL/XRP/ETH/USDC assets; an additional 1,000 devices are optional. The move aims to diversify revenue and strengthen crypto-focused brand positioning.
Jito launched a four-phase $1 million JTO buyback while increasing the block engine fee share to 6% with JIP-24. A real-time revenue/finance/management dashboard has been launched, and the first token holders meeting will be held on September 24. The buyback encourages value accumulation while increasing the transparency of the DAO revenue model.
