A record revision reveals one million fewer jobs than previously reported and gray scale files for three new crypto ETFs.

You're watching Coin Desk Daily. I'm your host, Jen Sanassi.

According to a startling disclosure from the Bureau of Labor Statistics, the U.S. economy created nearly 1 million fewer jobs, then reported in the year ended March.

The record revision challenges earlier optimism about the strength of the labor market, casting doubt on all risk-on positions that were taken by traders the past year or so.

Markets interpreted the downward revisions as another sign that the Federal Reserve

will introduce aggressive easing in the coming months.

One popular polymarket trader is betting that the central bank will cut rates by 50 basis points

on September 17th.

The crypto market rebounded on the back of a softer producer price index, which fell 0.1%

month over month in August, with Bitcoin pushing above $114,000 as of this morning.

Grace Gale has filed paperwork with the SEC for three crypto ETFs expanding its roster of potential

offerings. The asset managers submitted an S1 registration for a light coin ETF, as well as S3

filings tied to Bitcoin Cash and Hedera.

If these products are approved, they would join a lineup that already includes spot

Bitcoin and ether ETFs launched last year.

The timeline remains unclear for now as SEC Chair Paul Atkins has yet to act on crypto

ETF proposals extending delays. And moving outside the United States, crypto is also seeing mainstream support in Belarus.

President Alexander Lukashenko has urged the country's financial sector to accelerate the adoption of crypto and cash payments.

Lukashenko called for regulatory oversight of the crypto market and criticized banks from mistreating customers,

threatening disciplinary action against

those that engage in abusive practices. The push for crypto adoption comes as the country faces

sweeping sanctions over its support for Russia's invasion of Ukraine and alleged human rights

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