COINDESK DAILY: U.S. Added 142K Jobs in August; UK Crypto Companies Struggle With Licensing

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CoinDesk

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4.7 • 698 Ratings

🗓️ 6 September 2024

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Summary

Host Jennifer Sanasie breaks down the news in the crypto industry from the U.S. jobs data in August to crypto companies failing registration standards in the UK. "CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as the U.S. job growth returns slightly less than expectations in August. Plus, Telegram extends its moderators' reach to include private chats following Pavel Durov's arrest, and crypto companies in the UK are failing to meet the regulator's licensing standards. CORRECTION: An earlier version of this story incorrectly said Telegram had changed its policy for private chats to permit moderators to police them. According to Telegram, there has been no change; moderators were already able to review private chats if a member of that chat requested that. - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:43.9	Wondery UK. That's audible.com slash Wondery UK.
0:49.7	US jobs growth comes in less than expected and UK crypto companies struggle with licensing.
0:56.1	This is Coin Desk Daily. I'm your host, Jen Sanassi.
1:04.1	U.S. job growth was slightly less than expectations in August, but is it enough for the Federal Reserve
1:10.1	to begin its rate cutting cycle?
1:12.5	According to Friday morning's non-farm payrolls report from the government, the U.S.
1:16.3	posted August's job growth of 142,000 and the unemployment rate dipped to 4.2%. Jobs numbers for August
1:24.5	took on extra importance given the Federal Reserve is set to begin
1:28.0	cutting rates in mid-September. Conventional thinking believed the U.S. Central Bank would enter
1:33.0	this monetary easing cycle cautiously by lowering its benchmark Fed funds rate just 25 basis
1:38.4	points. The Fed, though, might be swayed by a week August employment report to instead
1:43.3	slash rates 50 basis points at that
1:46.1	meeting. In the minutes, following the report, Bitcoin rose about 1%, but the price remained lower
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