Employment Shock Drop — This Week in Bitcoin

US employment fell by 818,000 jobs in the latest Government revision. I'll break down the report and what it means for Bitcoin. Plus, a batch of news, Bitcoin basics, and more.

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News Links

• The Bitcoin Office (@bitcoinofficesv): "🇸🇻EL SALVADOR CONTINUES TO TRAILBLAZE! El Salvador will soon begin providing #Bitcoin instruction and certification to 80,000 public servants." | X Cancelled (https://xcancel.com/bitcoinofficesv/status/1825999325056704903)

• Illicit Finance - National Crime Agency (https://www.nationalcrimeagency.gov.uk/threats/nsa-illicit-finance-2024?ref=therage.co)

• German Authorities Seize $279,000 in Bitcoin ATM Crackdown - Decrypt (https://decrypt.co/245768/german-authorities-seize-279000-in-bitcoin-atm-crackdown)

• Nonfarm payroll growth revised down by 818,000, Labor Department says (https://www.cnbc.com/2024/08/21/nonfarm-payroll-growth-revised-down-by-818000-labor-department-says.html)

• Fed's Powell Confronts Policy Crossroads With All Eyes on Jackson Hole - Bloomberg (https://www.bloomberg.com/news/articles/2024-08-21/powell-confronts-policy-crossroads-with-all-eyes-on-jackson-hole?embedded-checkout=true)

• Powell may use Jackson Hole speech to hint interest rate cuts | AP News (https://apnews.com/article/interest-rates-prices-inflation-federal-reserve-economy-7e581f4da9c0c228c997ea8eb361e7ca)

• Watch Live: Fed Chair Jerome Powell at Jackson Hole | WSJ - YouTube (https://www.youtube.com/watch?v=E3LSNYmIniw)

• Bitcoin ETFs Record 14% Increase in Institutional Investors' Adoption | Coinspeaker (https://www.coinspeaker.com/bitcoin-etf-surge-institutional-investors/)

• Why Wall Street Is Investing in Bitcoin ETFs: A Q2 2024 Analysis (https://www.kavout.com/market-lens/why-wall-street-is-investing-in-bitcoin-etfs-a-q2-2024-analysis)

• Grayscale’s Share of Bitcoin ETF Market Falls Below 25% as Rivals Rise - Decrypt (https://decrypt.co/245517/grayscales-share-of-bitcoin-etf-market-falls-below-25-as-rivals-rise)

• Institutions Increased Their Bitcoin (BTC) ETF Allocation in Second Quarter, Bitwise Says (https://www.coindesk.com/markets/2024/08/21/institutions-are-still-buying-bitcoin-etfs-bitwise-says/)

• Spot Bitcoin ETFs maintain positive flows for 8 out of the last 10 days (https://cointelegraph.com/news/spot-bitcoin-etfs-maintain-positive-flows-for-8-out-of-the-last-10-days)

• vitalik.eth on X: "I have been told that I need to "do less philosophizing and do more ethereum bullposting". (https://x.com/VitalikButerin/status/1826253901240431083)

Noobie Corner Links