Global markets were mixed as the S&P 500 rose 0.51% and the Nasdaq gained 1.02%, while the Dow Jones slipped 0.05%. The US job openings data fell to 7.2 million in July, a level rarely seen since the pandemic. Euro zone inflation rose to 2.1% in August, exceeding expectations. President Trump signaled an imminent Supreme Court appeal to protect tariffs, while bond investors counted on tariff revenues to offset US debt. The European parliament attacked the EU-US trade deal, demanding changes, and the BoE’s Bailey warned of a ‘serious situation’ at the Fed following Trump’s attacks.
The global crypto market cap increased 0.06% to $3.82tn while the 24hr volume decreased 14% to $148bn.
- In the past 24 hours, crypto liquidations decreased by 6% and totaled $225m, almost split equally between long and short positions.
- According to SoSo Value data, US Spot BTC ETFs saw a daily net inflow of $301m on September 3, a 9.4% decrease from the previous day’s $333m, with total assets reaching $145bn.
- According to SoSo Value data, US Spot ETH ETFs recorded their third consecutive daily net outflow on Sep 3 of $38.2 million, an improvement from Tuesday’s $135.4 million outflow, driven primarily by BlackRock’s ETHA which saw $151.4 million in outflows while other major funds like ETHE recorded zero flows, though this was partially offset by inflows from Fidelity’s FETH ($65.78 million), Grayscale’s ETH ($26.55 million), and Bitwise’s ETHW ($20.81 million).
- DeFi lending protocols have surged 72% year-to-date from $53 billion to over $127 billion in total value locked according to Binance Research, driven by institutional adoption of stablecoins and tokenized real-world assets as collateral.
- Galaxy Digital became the first Nasdaq-listed company to tokenize its Class A common shares on the Solana blockchain through Superstate’s Opening Bell platform, allowing the actual shares (not derivatives) to be fractionalized and traded onchain.
- American Bitcoin, a crypto mining company backed by Eric and Donald Trump Jr., ended its volatile Nasdaq debut up 16.52% at over $8 per share on Wednesday after experiencing extreme swings from a 91% peak to afternoon lows, with trading halted five times due to volatility as the company holds 2,443 BTC worth $273 million and represents the Trump family’s second crypto venture to go public this week following World Liberty Financial’s token launch.
- Euro-denominated Bitcoin company Treasury launched with 1,000 BTC after raising 126 million euros ($147 million) in private funding led by Winklevoss Capital and Nakamoto Holdings, planning to list on Euronext Amsterdam through a reverse merger with MKB Nedsense as it aims to become the first Bitcoin treasury company on a primary European exchange.
- Trust Wallet, owned by former Binance CEO Changpeng Zhao, launched tokenized stocks and ETFs through partnerships with Ondo Finance and 1inch, allowing users to swap USDC into real-world assets with a $1 minimum investment on Ethereum initially, though the service is restricted from the US, UK, and European Economic Area and operates only during US market hours.
- Coinbase CEO Brian Armstrong announced that over 40% of the platform’s code is now written by artificial intelligence, more than double the figure from April, with a goal to reach 50% AI-generated code by October as the company continues aggressive hiring with nearly half of its 350 job openings seeking engineering and development professionals despite industry-wide tightening in crypto hiring.
