Daily Market Wrap | Aug. 29

2025-08-29 08:34:04

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Hot Topics

U.S. jobless claims fell to 229,000 for the week ending August 23, 2025, with low layoffs but tepid hiring, potentially raising unemployment to 4.3%.

American Bitcoin, backed by Trump’s sons, plans to start trading on Nasdaq in September via merger with Gryphon Digital Mining.

KindlyMD filed for a $5B equity offering to expand its Bitcoin treasury after buying 5,744 BTC, but its stock fell 12% to $8.07.

Market Updates

Binance restored futures trading after a brief Unified Margin system outage, impacting its $40B open interest market.

Bitcoin fell to $111,800, down 0.7%, while gold rose 0.8% to $3,477, nearing a record high, as macro factors favor gold over crypto.

Kanye West’s YZY token crashed 70%, with 74% of traders losing $74.8M; 11 wallets took 30% of $66.6M profits.

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