1. In August, the U.S. added only 22,000 non-farm jobs and the unemployment rate rose to 4.3%
In August, the U.S. added only 22,000 non-farm jobs, marking one of the weakest monthly increases since the end of 2021, with the unemployment rate rising to 4.3%, the highest in nearly four years. Previously, the market had expected an increase of 76,500 jobs. CNN pointed out that the U.S. labor market has shown signs of fatigue, and President Trump rarely fired the BLS director last month, claiming the data was 'fabricated.' The market has become increasingly cautious about the prospects for economic growth.
2. Strategy meets the S&P 500 profit criteria or promotes institutional indirect holdings of $70 billion in Bitcoin
Strategy Inc. (formerly MicroStrategy) has theoretically met the profit conditions required for inclusion in the S&P 500 after recording 14 billion USD in unrealized gains last quarter. If included, passive funds tracking the index would need to buy approximately 50 million shares, equivalent to about 16 billion USD at current prices, leading institutions to passively hold approximately 70 billion USD of its Bitcoin reserves. Although Strategy was included in the Nasdaq 100 at the end of 2024, the S&P 500 has stricter requirements regarding liquidity, market capitalization (not less than 22.7 billion USD), profit records, and industry balance, ultimately depending on the committee's judgment.
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3. Wyoming, USA, issues the first state government stablecoin, Frontier Stable Token
The Stablecoin Committee of Wyoming, USA, announced that its first state government stablecoin, Frontier Stable Token (FRNT), has selected Hedera as the candidate blockchain platform. FRNT is fully backed by USD and short-term US Treasury bonds, with an additional 2% reserve, and the proceeds will be used to support the Wyoming education fund.
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4. The Supreme People's Procuratorate announced a case involving a fraudulent national project related to virtual currency, defrauding over 6 million yuan.
The Supreme People's Procuratorate's official website disclosed a virtual currency fraud case: A criminal gang fabricated a 'national project', attracting members through social media promotion and online meetings, developing over 1,900 people within six months, and requiring the conversion of RMB to USDT for recharge and transfer. According to the Shandong Huimin County procuratorate's appraisal, the involved amount exceeds 6 million yuan. Ultimately, the involved individuals were sentenced to three to three and a half years in prison for fraud.
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5. The largest off-exchange financing boss in Beijing, Song Shijie, is involved in money laundering and cryptocurrency scams, surrendering nearly 200 million yuan to the UK and the US.
The largest off-exchange financing boss in Beijing, Song Shijie, who owes the treasury 22 million yuan in confiscated funds, surrendered nearly 200 million yuan in asset confiscation settlement to the UK and the US. The UK's National Crime Agency confiscated his luxury mansion, apartment, and bank accounts in London, valued at about 161 million yuan, determining that the funds originated from illegal securities trading within China and money laundering in the UK. Song Shijie is also involved in the cryptocurrency 'pig butchering' scam, with three Binance accounts frozen, containing approximately 10 million USD in crypto assets, according to a document from the Orlando court in Florida at the end of March, indicating he is avoiding criminal charges by relinquishing claims.
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