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🌙 Crypto Markets Drop on U.S. Labor Market Concerns

Cryptocurrency markets traded lower on Thursday, bringing the industry’s total market capitalization closer to the $2 trillion mark.

Author

Mike Gavela
September 05, 2024

Crypto Roundup - September 5

The crypto markets experienced a sharp decline as concerns over a slowing U.S. labor market raised fears of broader economic impacts, prompting a sell-off across digital assets. At the same time, Celestia unveiled its roadmap to scale its modular blockchain to 1-gigabyte blocks, a move aimed at addressing blockchain scalability and improving data processing efficiency. Additionally, Telegram founder Pavel Durov broke his silence following the arrest of several tech figures associated with the platform, distancing himself from the allegations and addressing the growing speculation about Telegram's involvement in the situation.

Top Stories

  • Crypto markets drop amid U.S. labor market concerns, driving a sell-off across digital assets.

  • Celestia reveals roadmap to introduce 1-gigabyte blocks, aiming to solve blockchain scalability challenges.

  • Telegram founder Pavel Durov breaks silence on recent tech figure arrests, addressing the rising speculation surrounding the platform's role.

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TOP STORIES

Crypto Markets Drop on U.S. Labor Market Concerns - "The Defiant"

The number of active addresses on the Bitcoin network has hit the lowest level since 2021.

thedefiant.io/news/markets/crypto-markets-drop-on-u-s-labor-market-concerns

Celestia unveils roadmap to 1-gigabyte blocks

Celestia reveals a 1 GB block roadmap amid competition in data availability against rivals like EigenDA and Avail to enhance scalability and lower costs.

cointelegraph.com/news/celestia-unveils-roadmap-to-1-gigabyte-blocks

Pavel Durov says French investigation was ‘surprising’

Pavel Durov, in a Telegram message, breaks his silence about his arrest in France.

blockworks.co/news/telegram-founder-breaks-silence-arrest

FUNDRAISING

OTHER HEADLINES

In Trump-Backed Crypto Project, Insiders Are Poised for Unusually Big Token Payouts

The team could get 70% of World Liberty Financial's tokens, a significantly higher-than-normal allocation from a project marketed as a solution to the “rigged” traditional finance system.

www.coindesk.com/business/2024/09/04/in-trump-backed-crypto-project-insiders-are-poised-for-unusually-big-paydays

US prosecutors allegedly link ex-FTX exec to Chinese bribery scandal

Former FTX Digital Markets co-CEO Ryan Salame, who is scheduled to report to prison on Oct. 13, will likely appear in court to discuss withdrawing a petition to vacate his guilty plea.

cointelegraph.com/news/us-prosecutors-ftx-exec-oppose-motion-vacate-plea

Robinhood Settles With DoJ For Failing To Allow Crypto Withdrawals - "The Defiant"

Robinhood settled with the DoJ after failing to allow customers to withdraw cryptocurrency and publishing misleading advertising.

thedefiant.io/news/regulation/robinhood-settles-with-doj-for-failing-to-allow-crypto-withdrawals

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