Crypto is Macro Now

Crypto is Macro Now

Labour data: Forget what you saw

Plus: Nasdaq, flash points, CBOE, Vietnam and a whole lot more

Noelle Acheson's avatar
Noelle Acheson
Sep 10, 2025
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“Not everything that counts can be counted, and not everything that can be counted counts.” – Albert Einstein ||

Hi all! I hope you’re doing well!

I broke one of my back teeth last night and am feeling sorry for myself. Commiserations are welcome as I wait for my dentist to squeeze me in.


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IN THIS NEWSLETTER:

  • Labour data: Forget what you saw

  • Nasdaq: Tokenization moves in

  • Macro-Crypto Bits: PPI, CBOE, Vietnam

  • Also: flash points erupting – Qatar, Poland, Nepal

If you’re not a premium subscriber, I hope you’ll consider becoming one! You get ~daily commentary on markets, tokenization, regulation and other signs that crypto IS impacting the macro landscape. As well as relevant links and music recommendations ‘cos why not.

Let me help you keep up with the growing crypto and macro overlap.

WHAT I’M WATCHING:

Labour data: Forget what you saw

Yesterday, we got the quarterly revision from the Bureau of Labor Statistics (BLS) on reported payroll figures, which showed that last year’s job creation was much, much less than the data originally reported.

In many ways, this is a big deal – in others, not. Let’s look at each.

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