🔥🔥🔥 Market Briefing Friday - 01/08
+ US stocks, BTC along with a slew of altcoins plummet - Over $530M liquidated in the past 12 hours (94% are Long orders) [CT]
+ President Trump signs an order adjusting countervailing taxes for 83 countries, effective 7 days after signing from 7/8 [CT]
+ 7:30 PM tonight: US releases Non-farm employment data for July
Unemployment rate (Forecast = 4.2%, previous = 4.1%)
Number of jobs created (Forecast = 108K, previous = 147K)
📝 ETF Spot session 31/07 [CT]
+ BTC down -$114.6M, BlackRock gained +$18.8M, ending 5 consecutive positive sessions
+ ETH up +$17.1M, BlackRock gained +$18.3M, the 20th consecutive positive session
+ SOL up +$2.1M from REX-Osprey
+ SEC Chairman Paul Atkins launches “Project Crypto” aimed at modernizing the securities legal framework, bringing the US financial market on-chain [CT]
+ Visa expands payment support with stablecoins USDG, PYUSD, EURC and integrates the Stellar and Avalanche blockchains [CT]
+ Pumpfun just registered subdomain fee.pump.fun, soon to launch a fee schedule or reward program based on trading volume [CT]
+ Strategy profits $10B in Q2 thanks to Bitcoin price increase, raising BTC holdings to 628,791 BTC ~$72.3B; plans to raise an additional $4.2B for further purchases [CT]
+ Tether reports nearly $5B profit in Q2 and becomes one of the largest creditors in the US with $127B in government bonds [CT]
+ Coinbase's Q2 revenue reaches $1.5B, down 26%, USDC stablecoin revenue increases 12% to $333M; acquired an additional 2,509 BTC in Q2, raising total holdings to 11,776 BTC ~$1.26B [CT]
+ Financial company Mill City Ventures III🇺🇸 raises $450M to create a SUI reserve and acquires 76.27M SUI ~$273M from Sui Foundation [CT]
