The US economy added far more jobs than expected in August, pressuring Bitcoin lower as traders repriced the odds of a Federal Reserve rate cut this month. Key points: According to data released on Friday, the US economy added 162,000 nonfarm payroll jobs in August, significantly outperforming economists’ consensus expectations of roughly 56,000 jobs. In response to the announcement, Bitcoin (BTC) sold off from $81,300 to local lows of $78,600. At the time of writing it stands at $79,500. Recent economic data carries added weight, given how divided rate outlooks remain ahead of the next Federal Open Market Committee (FOMC) meeting on Sept. 15-16. Under previous Federal Reserve chairs, expectations ahead of the FOMC were mostly well-anchored. However, the lack of forward guidance from Chair Kevin Warsh, along with potential dissenters in the committee, has resulted in added uncertainty. Read more
The mortgage lender plans to bring more than $10 billion in historical loans onchain, turning thousands of mortgage files into blockchain-based records. Pineapple Financial has moved more than $1 billion in residential mortgage records onto Injective, a layer-1 blockchain focused on financial applications, as part of a broader effort to migrate its historical loan portfolio onchain. Pineapple plans to eventually migrate more than 29,000 funded mortgages worth over $10 billion onto the network, Injective said Friday. Each mortgage is represented by an onchain record tied to the underlying loan file, rather than being repackaged as a new mortgage security. The records contain more than 500 data points, including loan-level information designed to support verification, audit trails and risk analysis. Pineapple’s dashboard shows that the migration now includes 2,079 mortgage records, up from 1,259 when the initiative launched in December 2025. Read more
The agency reported that “transnational criminal organizations” based in compounds in Southeast Asia were largely behind digital asset scams targeting US residents. An analysis from the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) identified $12.7 billion in crypto transactions “perpetrated by overseas scam centers.” According to a FinCEN report released on Thursday, an analysis of more than 33,000 reports filed between September 2023 and December 2025 of suspected crypto scams revealed about $13 billion in financial transactions. The digital asset-based scams included instances of pig butchering, romance scams and “cryptocurrency confidence schemes,” in which a victim is manipulated into investing in crypto with false promises of large returns. “Digital asset investment scams pose one of the most significant fraud threats facing Americans today,” said Gene Lange, performing the duties of Under Secretary for Terrorism and Financial Intelligence. Read more