US primary budget deficit hits -3.59% of GDP, deepest among advanced economies 📉.
Interest payments of over $1.1 trillion are excluded, the second‑largest expense after defense. The UK follows at -3.51% of GDP. Belgium, France, Austria and the Euro Area run deficits between -1.40% and -2.14%. The gap highlights rising fiscal strain 💸.
Policymakers must curb the out‑of‑control deficit ⚠️
Robinhood's value locked (TVL) surged from zero to $700 million in under a month 🚀.
The surge marks a major shift in retail crypto adoption. Users are moving funds from traditional accounts into DeFi on Robinhood. Analysts expect pressure on rival brokers. The influx could boost liquidity for supported assets 📈.
The market will watch closely as Robinhood's momentum reshapes the crypto landscape 🔔
Chicago’s manufacturing PMI slumped to 47.1 in August, slipping into contraction 📉.
The index fell 10.5 points, the steepest since 2020. New orders dropped 15.4 points; production slipped 8.8. Backlogs sank 12.1 points to a Nov 2025 low. Prices rose 3.8 points, highest since Feb 2022, signaling stagflation.
U.S. nonfarm payrolls for the year ending March 2026 fell by 79,000 jobs, the fourth straight annual downgrade 📉.
The revision follows a record 911,000‑job cut last year and marks the seventh downward adjustment in eight years, erasing nearly 2.5 million jobs 📊. Private payrolls fell 178,000 while government added 99,000, leaving the labor market weaker than reported.
OpenAI will cut off SpaceX’s Cursor AI tool, deepening its feud with Elon Musk 🚀.
The decision ends a short-lived partnership that let Cursor assist SpaceX engineers. OpenAI said the tool breached its usage policy. Critics argue the move reflects growing rivalry in the AI sector. Analysts caution the dispute may affect future collaborations.
US spot Bitcoin ETFs saw a massive $201.8 million outflow in a single day following Warsh’s speech. 🚀
The funds had taken in $242 million the day before, a sharp reversal. ⚡ Bitcoin fell to $77,580, heightening pressure. Analysts see the outflow as growing risk aversion. Further redemptions could emerge if confidence stalls.
BIS chief declares stablecoins unsuitable for large‑scale payments, backing tokenized bank deposits instead. 🔥
At a recent policy summit, the BIS head warned of volatility and regulatory gaps. He argued tokenized deposits retain existing oversight. The stance challenges current crypto payment ambitions. Industry may pivot toward compliant digital representations. 📈
Bitcoin posts its strongest August performance since 2017 🚀
The cryptocurrency rallied over 15% throughout the month, outpacing major indices. Analysts attribute the surge to renewed institutional interest and positive regulatory signals in key markets. Trading volumes hit multi‑month highs, bolstering liquidity. The bullish trend may lift overall market confidence.
Investors will monitor whether the momentum persists.
Grok Bot now enables direct online purchases for users via a Stripe integration 🚀
Grok creates a unique virtual card per purchase, hiding the real number. Stripe Link processes the payment with a one‑time number. Users approve each transaction on their phone. This makes Grok a direct shopping assistant 💳
Expect broader adoption across e‑commerce platforms 📈
The token raised $200 million for DeFi use. Liquidity pools receive $10 million to tighten spreads. Early users get a 10% fee rebate this week. Compliance checks meet Binance Square’s KYC/AML standards.