Daily Market Wrap | Sep. 08

Hot Topics

• SEC Chair Paul Atkins set a Spring agenda to clarify crypto rules and ease compliance.
• Bitcoin mining is becoming more centralized as hashrate drops ~4.8%, miners trim operations under rising difficulty, and smaller players struggle under pressure.
• Friday’s U.S. jobs report on September 5, 2025 triggered major crypto volatility as muted labor data intensifies expectations of a Fed rate cut.
• World Gold Council will pilot digital gold in London’s $900B bullion market from early 2026.

Market Updates

• Michael Saylor debuted on the Bloomberg Billionaires Index, with an estimated net worth of $7.37 billion, driven by gains in Strategy’s stock and its vast Bitcoin holdings.
• Michael Saylor’s Strategy was passed over for S&P 500 inclusion on September 5, 2025, despite meeting all criteria, while Robinhood was added instead.
• SOL Strategies won approval to list on Nasdaq under ticker STKE, with trading starting Sept 9, 2025.