Markets paused on optimism as job growth undershot, crypto markets cooled sharply, and regulatory developments signaled major changes for the industry.

New data showed private-sector job growth far lower than expected, alongside rising claims and layoffs. These signs of a softening labor market boosted rate-cut expectations, now pricing in a September cut with nearly 98% certainty. The S&P 500 hit another record today, as falling yields added pressure toward a softer Fed stance.

Nasdaq unveiled sweeping new rules to combat pump-and-dump scams, especially targeting small-cap and Chinese-listed names. Actions include faster delisting protocols and raised listing standards. The move comes after billions were wiped out amid fraudulent promotions, emphasizing the risks lingering in micro-cap social media hype.

Crypto markets marked a painful fall as September began: Bitcoin dropped below $108K, and Ethereum followed suit, amid a $44 billion market-cap erosion in 24 hours. ETF inflows showed a mixed picture: spot Bitcoin ETFs picked up steam, while Ethereum funds saw continued outflows. Meanwhile, a $50M-plus Bitcoin stash moved for the first time in over a decade, raising eyebrows on-chain.

The SEC released an ambitious rulemaking agenda designed to modernize crypto regulation, easing Wall Street compliance burdens. Proposals include clear frameworks for digital asset offerings, safe harbors, and potential crypto trading on regulated exchanges. This signals a pivot toward integration of digital assets into traditional finance, tethered with investor protection.

A quick word from our partner:

Institutional investors back startups to unlock outsized returns. Regular investors have to wait. But not anymore. Thanks to regulatory updates, some companies are doing things differently.

Take Revolut. In 2016, 433 regular people invested an average of $2,730. Today? They got a 400X buyout offer from the company, as Revolut’s valuation increased 89,900% in the same timeframe.

No wonder 10K+ everyday people are taking the chance on Pacaso.

Founded by a former Zillow exec, Pacaso’s co-ownership tech reshapes the $1.3T vacation home market. They’ve earned $110M+ in gross profit to date, including 41% YoY growth in 2024 alone. They even reserved the Nasdaq ticker PCSO.

The same institutional investors behind Uber, Venmo, and eBay backed Pacaso. And you can join them. But not for long. Pacaso’s investment opportunity ends September 18.

Invest While You Still Can

_{Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.}

The story today is all about a world in transition: a softer jobs picture widens the path for Fed rate cuts; crypto is retracing as uncertainty mounts; and regulators are beginning to piece together how digital assets fit into the broader financial system. As we head into a full calendar of jobs data, earnings, and Fed signals, the balance between risk and clarity will define the week.