The U.S. labor market slows down in August with only 22,000 jobs added, and Tether considers mining gold.

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

The employment situation in the U.S. continued to show softness last month.

According to the Bureau of Labor Statistics, non-farm payroll, rose by 22,000 in August,

much less than economist forecasts for 75,000 and July's 79,000.

The unemployment rate rose to 4.3% in line with forecasts and up from July's 4.2%. The slower labor market reinforces

the anticipation for a September rate cut as the CME group's Fedwatch tool shows a 99% chance

that the central bank will lower their benchmark rates by 25 basis points. Bitcoin has been seeing

slight uptick since the news, trading at around $113,000 as of this morning.

Stable coin issuer Tether is considering investing in gold mining.

According to the report from the Financial Times, the USDT issuer has held discussions with

mining groups about putting money into the gold supply chain, including refining, trading, and

royalties. This comes as the price of the precious metal rose to an all-time high of over $3,550 per ounce this week,

having nearly doubled in the last two years.

According to its financial statements, Tether already holds $8.7 billion in gold bars in a Zurich vault,

and the company also offers tether gold, where each X-A-a-ut token is equivalent to the value of one

troy ounce of physical gold. And World Liberty Financial has blacklisted Justin Sun's blockchain address with 595 million unlocked WLFI tokens on it, impeding the Tron founder from transferring.

The blacklisting follows several outbound transactions from Sun's address, including one worth $9 million.

Sun said that the transactions didn't involve any buying or selling and couldn't have any

market impact. In a later statement, he urged WLFI team to unblock his tokens, saying that,

quote, a truly great financial brand must be built on fairness, transparency, and trust.

That's it for CoinDesk Daily. Get more updates on CoinDesk.com, and we'll see you next time.

...