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🌙 Crypto Markets Plunge After August Jobs Report

The Crypto Fear and Greed Index has dropped to 22, indicating extreme fear.

Author

Mike Gavela
September 06, 2024

Crypto Roundup - September 6

Crypto markets experienced a sharp decline following a weaker-than-expected U.S. August jobs report, which missed economists' forecasts and stoked fears about the broader economic recovery. As traditional financial institutions rush to capitalize on blockchain technology, major banks have invested millions to gain a foothold in tokenization, reflecting the growing adoption of digital assets. In related news, VanEck has announced the closure of its Ether futures ETF due to low investor interest, marking a significant moment in the market for crypto-based financial products.

Top Stories

  • Crypto markets plunge after August jobs report reveals slower-than-expected job growth.

  • Banks invest millions to enter the tokenization boom, targeting asset tokenization for future growth.

  • VanEck closes Ether futures ETF due to low demand, raising questions about the viability of some crypto ETFs.

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TOP STORIES

Crypto Markets Plunge after August Jobs Report Misses Expectations - "The Defiant"

The Crypto Fear and Greed Index has dropped to 22, indicating extreme fear.

thedefiant.io/news/markets/crypto-markets-plunge-after-august-jobs-report-misses-expectations

BlackRock’s tokenisation push kicked off an $8.9bn frenzy that experts say is accelerating

BlackRock’s entry into tokenisation is influencing customers of other banks to demand similar services.

www.dlnews.com/articles/fintech/banks-pay-millions-to-get-in-on-the-tokenisation-boom

VanEck to close ether futures ETF after July spot ETH fund launch

The offering from VanEck, which launched in October 2023, had gathered just $21 million in assets.

blockworks.co/news/vaneck-closing-ether-futures-etf

OTHER HEADLINES

Fantom’s Rebranded Blockchain Sonic Labs Launches Testnet - "The Defiant"

The blockchain formerly known as Fantom, now called Sonic Labs, has launched its testnet today.

thedefiant.io/news/blockchains/fantom-s-rebranded-blockchain-sonic-labs-launches-testnet

Durov announces disabling personal geolocation on Telegram

Telegram founder Pavel Durov has announced some changes to the platform by removing the individual geolocation feature and media uploads to Telegraph.

cointelegraph.com/news/durov-disabling-personal-geolocation-telegram

Ethereum Foundation's Main Wallet Down to About $650M, Top Official Says

As recently as March 2022 – when the price of Ethereum's native cryptocurrency, ether (ETH), was higher – the foundation's treasury held about $1.3 billion of ETH.

www.coindesk.com/tech/2024/09/06/ethereum-foundations-main-wallet-down-to-about-650m-top-official-says

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