US Labor Market Cools and Inflation Pulls Back

Takeaways

1. US labor market and inflation showed signs of cooling in June: The unemployment rate rose to 4.1% and CPI, a core inflation measure, increased just 3.3% year-over-year.
   
   
2. US House can’t override Biden veto: US lawmakers fell short of the two-thirds majority needed to overturn Biden’s veto of a Congressional resolution to overturn an SEC bulletin that puts additional pressure on firms that custody crypto assets.
   
   
3. The Labour Party won a decisive victory in the UK general election last week: The win ended 14 years of Conservative rule and left the direction of crypto regulation somewhat uncertain.
   
   
4. Spot bitcoin ETFs experienced nearly $300 million in net inflows on Monday: It was the highest since early June, with buying led by BlackRock’s IBIT and Fidelity’s FBTC.
   
   
5. VanEck and 21Shares have updated their S-1 registrations with the SEC to list spot Ethereum ETFs: The ETFs are expected to begin trading shortly after approval, which should come later this summer.
   
   
6. Doja Cat's Twitter account was hacked to promote a Solana-based meme coin named $DOJA: The breach prompted the star to alert her Instagram followers that she was not responsible for the tweets.
   

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