Jobs data comes in stronger than expected, and Ripple applies for a national banking license.

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The U.S. economy added a stronger than expected 147,000 jobs in June, with the unemployment rate falling to 4.1%. Bitcoin dipped modestly

in the minutes following the report's release after a steady climb higher, which saw the largest

cryptocurrency by market cap top $110,000. At time of recording, Bitcoin was at around $10,000.

Market participants are closely monitoring economic data for signals about the Fed Reserve's next move. While there's been some chatter from at least a couple of Fed officials about a July rate cut,

Chairman Jerome Powell has remained insistent that the economy is in a good spot,

and the central bank can thus stay patient as it considers

the need for monetary ease.

Leaders at the SEC are reviewing the agency's recent approval of a gray-scale application

to turn the digital large-cap fund into an ETF.

The GDLC holds $755 million in Bitcoin Ether, XRP, Seoul, and ADA.

This halt indicates that the SEC's commissioners did not vote to approve the conversion,

but rather the agency staff gave the sign-off.

In a letter dated July 1st, the SEC said it would let the New York Stock Exchange know

of any pertinent action taken by the commission.

Spokespeople for Grace Hill and the New York Stock Exchange did not immediately return a request

for comment, and an SAC spokesperson declined to comment on the letter.

And Ripple has applied for a national banking license at the office of the comptroller of the

currency. The license would allow the company to expand its crypto services and operate across state lines under federal regulation.

Ripple's application comes after USDC issuer Circle also filed for a similar license earlier this week,

a sign that Stablecoin companies are seeking federal oversight as U.S. legislation advances.

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