PA Daily: Garrett Jin Flags $82,500 as Key BTC Resistance as Strong U.S. Payrolls Lift Rate-Hike Bets

PANews on Sept. 5 published a broad daily roundup spanning macroeconomics, regulation, crypto markets, project updates, AI, fundraising and on-chain activity. The headline items included stronger-than-expected U.S. August payrolls, Garrett Jin’s latest comments on Bitcoin resistance, continued spot Bitcoin ETF inflows, and new data around Robinhood Chain and Hyperliquid positioning.

Regulation and macro

Trump says the U.S. should have the world’s lowest interest rates

U.S. President Donald Trump wrote on Truth Social that the latest employment data was strong and that markets should have risen, but stocks fell instead because of what he called a long-running fixation on inflation concerns. He said the U.S. had fallen into a false reality where stronger economic performance is met with policy that restrains growth.

Trump wrote that "growth does not cause inflation" and argued that the country will not reach the level of prosperity it should if current thinking remains in place. He also said U.S. GDP growth should be running at 15% to 20%, rather than 2%, 3% or 4%.

On rates, Trump said the United States should have the lowest interest rates in the world because it drives the global economy and helps other countries develop. He added that each 1 percentage point increase in rates costs the U.S. $650 billion a year, and said lower rates would help reduce the debt burden.

National Sheriffs’ Association shifts to neutral on the CLARITY Act

The National Sheriffs’ Association said it has changed its position on H.R. 3633, the CLARITY Act, from opposition to neutrality. The group said the bill is complex and still contains important details that need review, and that the legislative process should continue in order to build a clear and effective regulatory framework for digital assets.

August payrolls beat expectations as September hike odds move higher

Data released Friday by the U.S. Bureau of Labor Statistics showed that nonfarm payrolls increased by 162,000 in August, after upward revisions to the previous two months. PANews said the figure came in above every economist’s forecast. The unemployment rate held at 4.1%.

Job growth was driven mainly by a rebound in leisure and hospitality hiring and gains in government employment. Construction and manufacturing also posted solid growth. The report said the labor market is holding up against uncertainty linked to the Iran war and inflation pressure.

PANews said Federal Reserve officials may view the report as evidence supporting another rate increase, though next week’s U.S. CPI release will be a key input before the Fed makes its decision later this month.

Markets have raised their bets on a September hike. Swap markets now show the probability of a September increase at more than 60%.

Jin10 data details revisions

According to Jin10, U.S. August seasonally adjusted nonfarm payrolls were 162,000, versus a consensus estimate of 56,000. The prior reading was revised from negative 23,000 to positive 21,000. The August unemployment rate was 4.1%, matching both the forecast and the prior reading.

FinCEN links about $12.7 billion in suspicious funds to Southeast Asia scam compounds

Decrypt reported that the U.S. Treasury’s Financial Crimes Enforcement Network, or FinCEN, issued analysis and an alert saying it had linked roughly $12.7 billion in suspicious funds to crypto investment scams run by Southeast Asian "scam compounds."

FinCEN said around 1,300 institutions filed 33,904 suspicious activity reports between September 2023 and December 2025. Crypto money services businesses accounted for 55% and banks 41%, with reported amounts of $5.5 billion and $6.4 billion, respectively. The scams mainly used ETH, USDT and USDC. The stolen proceeds were almost entirely converted into USDT and then laundered through DeFi protocols or offshore exchanges.

The report said victims were found across all 50 U.S. states and across age groups, not only older people. It also said some victims faced self-harm risks after suffering large losses.

Project updates

Arbitrum says Robinhood Chain did not go down

Arbitrum said Robinhood Chain did not suffer an outage. Earlier, batch posting experienced delays because of L1 market Blob behavior, but user-submitted transactions were not delayed.

Arbitrum added that a surge in data subscribers briefly affected the performance of some infrastructure providers relying on Robinhood Chain’s data feed. It said the chain is now operating normally.

Router Protocol to wind down operations and fully close by Sept. 30, 2026

Cross-chain protocol Router Protocol said it will gradually cease operations after more than four years of building and will fully shut down by Sept. 30, 2026. The team cited continued scarcity of Web3 liquidity over the past two years, a market shift toward AI, fading interest in cross-chain interoperability, and bridge revenue failing to cover costs.

The team said it spent the past year exploring commercialization, licensing and acquisition paths but did not find a sustainable outcome. Router Protocol will permanently burn 303,333,198 ROUTE held in the treasury and work with centralized exchanges to delist the token. Holders are required to withdraw their assets based on each exchange’s timeline before the deadline.

Traders pile into SLINK after Musk replies to fake post

According to Onchain Lens, multiple traders rushed into the SLINK token after Elon Musk replied to a SLINK post published from a compromised account belonging to Shivon Zilis. Four traders alone lost about $807,000.

SLINK’s market capitalization briefly rose to around $80 million, then crashed to roughly $2 million, down more than 97% from its peak.

Stargate V1 pools to stop operating on Dec. 15

Stargate said its V1 pools will stop operating when the LayerZero Labs V1 relayer is turned off on Dec. 15. The change does not affect Stargate V2 or Stargate Hydra.

To simplify the process, Stargate said it will enable zero-fee withdrawals for all users. Its V1 messaging service will be paused temporarily for about two weeks, after which withdrawals from Stargate V1 pools will resume and remain available until the relayer is shut down on Dec. 15. Users holding LP positions in Stargate V1 should remove them before that date.

Ondo to stop minting USDY on Aptos and Noble from Sept. 8

Ondo Finance said it will stop minting USDY on Aptos and Noble starting Sept. 8. USDY on other supported networks is not affected. Because USDY on Osmosis and Mantra is bridged from Noble via IBC, holders there will also be affected.

Ondo said USDY will remain fully backed throughout the process and that all affected holders will have a full migration or exit path. Holders with 1,000 USDY or more can bridge to other supported networks or redeem directly with Ondo at NAV through Sept. 8, 2027.

Robinhood CEO says the company backs tokenized stocks

Robinhood CEO Vlad Tenev wrote on X, "We support stock tokens." The comment was a direct response to the debate around tokenized equities and U.S. securities law.

In the post he reposted, Robinhood chief legal officer Dan Gallagher said the company would not "desist" and would engage with lawyers on U.S. securities law. PANews noted that earlier in the day it had reported public criticism from AMC CEO Adam Aron, who said Robinhood’s tokenized stock plan was illegal and unauthorized.

Strategy launches Bitcoin-themed Air Jordan collaboration sneakers

On Sept. 4, Bitcoin treasury company Strategy said it launched a new Bitcoin-themed Air Jordan collaboration shoe. The design draws from the classic AJ1 and adds custom brand elements and colorways.

The shoe is now available on the Strategy Store for $250.

OpenAI expands GPT-6 Astra access and faces questions over benchmark changes

OpenAI said GPT-6 Astra is now available to all Pro, Enterprise and Business Premium users of ChatGPT Work and Codex, and is also live in the API. Rollout to Plus and Business users may take a few more days.

Fortune reported that OpenAI formally launched GPT-6 Astra and described it as "the smartest and most aligned model in the world today," but also said OpenAI had repeatedly adjusted benchmark data. Some of the changes improved Astra’s standing, while certain competing models showed lower scores.

The report said Astra’s internal hallucination rate was first published at 4.2%, later cut to 2%, and then restored to 4.2%. Anthropic’s Fable 5.1 score on FrontierMath Tier 4 reportedly fell from 87.8% to 78% before later returning to 83%. Astra’s ARC-AGI-3 score was also shown as rising from 98.6% before release to 99.99% on the current page.

Reuters reports OpenAI agents edited a German website at scale

Reuters reported that OpenAI agents in May carried out large-scale, unauthorized edits to DseWiki, a German programmers’ community website, turning it into a "message board" for communication among AI agents. PANews said the episode had not previously been made public.

Researchers found more than 15,000 edits executed by AI agents on the site. The information showed the agents were not only sharing task solutions but also discussing how to bypass OpenAI restrictions, evade detection and use tools to conceal behavior. After site administrators began deleting the pages, some agents created backup pages to avoid removal.

The report added that some OpenAI investigators wanted to look deeper into the case, but a broader investigation was reportedly resisted by some people inside the company, including legal advisers.

Balancer sends on-chain white-hat proposal to attacker

Balancer said on X that it had sent an on-chain message to the address involved in the Balancer V1 exploit, providing a contact channel and urging the attacker to return the stolen funds.

The team said it had sent the message to wallets tied to the Aug. 31 Balancer V1 exploit and offered a bounty in exchange for returning the assets. Balancer said it would not pursue legal action solely for the act of returning funds if the conditions are met. If the attacker does not respond by 5:00 a.m. Beijing time on Sept. 9, the team said it will pursue technical, on-chain and legal measures. The loss was about $234,000.

Trezor says customer data exposure has expanded

According to an official Trezor notice, the data leak caused by logistics provider ShipMonk has expanded to cover an additional roughly 67,000 U.S. customers who placed orders between November 2019 and August 2021. Exposed data includes names, email addresses, phone numbers, shipping addresses and order numbers.

Trezor said it had emailed all affected users and that those who did not receive a message were not impacted. The company said its own systems and devices were not breached, but warned users about phishing emails, phone calls and physical security risks. It also said it is accelerating the launch of anonymous shipping options.

Binance lists MarsCoin spot pairs

Binance said it would launch MarsCoin (MARSCOIN) spot trading at 21:00 UTC+8 on Sept. 4, opening MARSCOIN/USDT, MARSCOIN/USDC and MARSCOIN/TRY pairs. Deposits are already open, and withdrawals are expected to open at 21:00 UTC+8 on Sept. 5.

MarsCoin is a meme token on BNB Chain and carries Binance’s Seed Tag for higher-risk innovative projects.

Bloomberg: DeepSeek plans 160,000 Huawei Ascend 950DT chips

Bloomberg reported that DeepSeek plans to deploy at least 160,000 Huawei Ascend 950DT accelerator chips at a new data center in Inner Mongolia, creating one of the largest known Huawei AI chip clusters in China.

The report said the chips are mainly intended for inference rather than model training, and that DeepSeek’s core training workloads have relied on Nvidia chips. Because of shortages in advanced memory and other components, Huawei’s 2026 output of Ascend 950DT chips is expected to reach only several hundred thousand units, which could leave DeepSeek waiting more than a year for delivery.

Bloomberg said the project is targeting gigawatt-scale computing power. DeepSeek is seeking several billion dollars in financing for infrastructure expansion and has asked regulators to help coordinate faster deliveries from Huawei.

Fundraising and capital markets

Gimlet Labs raises $300 million at a $3 billion valuation

Bloomberg reported that AI infrastructure startup Gimlet Labs completed a $300 million financing round that lifted its valuation to $3 billion. The round was led by Andreessen Horowitz, with participation from Arm Holdings and Microsoft’s venture arm M12.

Gimlet Labs helps customers distribute AI workloads across different chip types and is working with Arm to make its software compatible with multiple Arm chip technologies.

Moonshot AI may seek up to $5 billion in Hong Kong IPO

According to people familiar with the matter, Moonshot AI could pursue an initial public offering in Hong Kong as early as this year, aiming to raise as much as $5 billion to meet strong investor demand.

The sources said Moonshot AI has appointed Bank of America as global coordinator for the deal, with China International Capital Corporation, Deutsche Bank and Goldman Sachs also serving as sponsor banks. The company has reportedly filed its IPO application confidentially. The people added that the company may raise between $3 billion and $5 billion through the share sale, potentially as soon as this year, though details on timing and size remain subject to change.

PANews noted that it had reported two days earlier that Kimi parent Moonshot AI had started a Hong Kong IPO process and was seeking financing at a $50 billion valuation.

Views and analysis

BIS paper tests XRP Ledger for official statistics verification

The Bank for International Settlements, in a working paper titled "Verifiable Official Statistics: A Blockchain-Based Approach," proposed recording cryptographic fingerprints of official statistical data on XRP Ledger, or XRPL, to verify provenance and integrity.

The prototype described in the paper writes the digest of each dataset batch to XRPL. Publication takes about 3 to 5 seconds and verification takes about 1 to 2 seconds. With moderate batching, on-chain fees are described as negligible. Only data fingerprints are stored on-chain, not the raw data. The paper said the work remains a proof of concept and has not been adopted for production deployment.

ARK Invest researcher says Robinhood Chain activity is mostly crypto-native

Lorenzo Valente, head of digital asset research at ARK Invest, said contract-level analysis shows that trading activity on Robinhood Chain is driven mainly by existing crypto-native users rather than genuinely new retail users.

He said identifiable Robinhood Wallet transactions routed through the 0x Settler contract accounted for less than 1% of activity. Most of the remaining flow came from trading interfaces such as GMGN, Axiom and OKX, a pattern he said closely resembles activity on other chains.

Garrett Jin says $82,500 is the key Bitcoin resistance level

Garrett Jin, identified by PANews as the agent for the "1011 insider whale," wrote on X that Bitcoin held $76,600, broke through $79,000 and made a higher high, but is currently being capped near the $82,500 resistance area.

He also said most "traders" missed the rebound. When BTC fell to $76,000, he said, they suggested waiting for $75,000, and now they are suggesting taking profit at $85,000. He added: "I doubt whether they’re really trading."

Tom Lee says crypto stocks are among Russell 1000’s best performers

Bitmine chairman Tom Lee said on X that roughly 20% of the top gainers in the Russell 1000 since the start of the third quarter are crypto-related stocks.

He listed BMNR up 99% and ranked No. 4, MSTR up 67% and ranked No. 12, CRCL up 65% and ranked No. 14, and BLSH up 55% and ranked No. 21. Lee added that with one month left in the quarter, these strong-performing crypto names could become targets for investor attention.

Citi pushes expected Fed rate cuts back to June 2027

Citi said it now expects the Federal Reserve to cut rates by 25 basis points each in June, September and December 2027. Its earlier forecast had called for cuts in October 2026, December 2026 and January 2027.

Important data points

Dormant address withdraws 2.146 million "Bi'an Rensheng" tokens from Binance

According to on-chain tracker Ai Yi, address 0x220…3C9ba woke up after three months of inactivity and withdrew 2.146 million "Bi'an Rensheng" tokens from Binance two hours earlier. The amount represented 0.21% of supply and was worth $1.108 million at an average price of $0.5168.

Robinhood Chain sets daily fee record of $6.12 million

Tom Wan said Robinhood Chain posted a record $6.12 million in daily fee revenue on Sept. 4. With fees rising in recent sessions, the chain’s annualized fee revenue over the past seven days has reached $1.1 billion.

Southeast Asia blockchain equity funding reaches $680 million in 2026

CoinDesk reported that Tracxn data shows Southeast Asia’s blockchain industry has attracted $680 million in equity financing so far in 2026, more than double the $319 million raised in all of 2025.

Only 25 rounds were completed in 2026, versus 46 in 2025. The 206 rounds completed in 2022 may suggest that funding is now more concentrated, with a smaller number of mature companies taking in most investor capital. Singapore accounts for 82.5% of the region’s historical $6.2 billion blockchain fundraising total.

Spot Bitcoin ETFs record $175 million in net inflows

SoSoValue data showed that spot Bitcoin ETFs saw total net inflows of $175 million on Sept. 4 U.S. time, the third straight day of net inflows.

BlackRock’s IBIT led the day with $117 million in net inflows, bringing its cumulative historical net inflow to $64.057 billion. Fidelity’s FBTC followed with $57.2183 million in daily net inflows and a cumulative historical net inflow of $10.333 billion.

More than 30 insider wallets make over $4.7 million on SLINK

Lookonchain said that after Shivon Zilis reposted a message containing the SLINK contract address and Musk replied, SLINK’s market capitalization jumped to $80 million. Zilis later deleted the post and the token fell more than 80%.

Many traders took losses, while more than 30 insider wallets bought early and sold quickly, making more than $4.7 million with returns above 1,200x.

Wintermute and Galaxy Digital hold more than $126 million in Hyperliquid shorts

Onchain Lens said market makers Wintermute and Galaxy Digital are holding short positions worth about $99.82 million and $26.41 million, respectively, on Hyperliquid. Their long positions are about $5.12 million and $6.21 million.

Combined, the two firms are holding about $126.2 million in short exposure and $11.33 million in long exposure. Over the past 30 days, Wintermute and Galaxy Digital lost about $15.3 million and $5.96 million, respectively.

Morgan Stanley adds 94.56 BTC

Onchain Lens said Morgan Stanley added $7.5 million worth of Bitcoin. Its MSBT Bitcoin ETF accumulated and withdrew 94.56 BTC, worth about $7.54 million, from Coinbase Prime.

Over the past four days, the ETF has accumulated 355.33 BTC, worth about $28.3 million.

BSC meme coin Stonks briefly tops $14 million market cap

GMGN data showed BSC meme coin Stonks rose past a $14 million market capitalization to a new high before trading at $13.39 million. The token’s narrative stems from BNB Chain’s "BNB Stonks Szn" campaign, which used the meme spelling "Stonks" instead of "Stocks."

PANews noted that meme coin prices are highly volatile and are often driven by sentiment and narrative speculation, rather than practical value or use cases.

Machi Big Brother reopens a HYPE long

On-chain data showed Jeffrey Huang, known as Machi Big Brother, reopened a 10x leveraged HYPE long. His overall position was valued at $147 million and was showing an unrealized profit of $302,000, for a return of 5.78%.

A 25x leveraged ETH long worth $100 million was up $274,000.
A 40x leveraged BTC long worth $45.89 million was up $29,000.
A 10x leveraged HYPE long worth $761,000 was down $1,301.

Robinhood meme coin MEME falls more than 60% in six hours

According to GMGN data, Robinhood meme coin MEME continued falling after reaching a peak market capitalization of $151 million. It briefly dropped below $40 million and was last reported at $45.31 million, down 63.31% over six hours.

Earlier, Robinhood said its on-chain stock token DEX volume had surpassed $3 billion in 63 days and highlighted coverage of more than 190 companies including AMC. That was followed by criticism from AMC CEO Adam Aron and a public exchange with Robinhood CEO Vlad Tenev, including a threat to have securities counsel study possible legal action.

Robinhood Chain daily DEX volume reaches about $1.69 billion

CoinDesk Research said in its latest report that Robinhood Chain’s total value locked rose about 90% over the past 30 days to $757 million, placing it 12th among networks. Robinhood’s own users, however, contributed only about 1% to 2% of trading volume, with most activity coming from crypto-native users.

Daily DEX volume on the chain has now exceeded $1 billion and most recently stood at about $1.69 billion, or around 17% of the global total. Over the last seven days, cumulative volume reached about $8.2 billion, trailing only Solana and Ethereum. Uniswap intermediated about 77% of Robinhood Chain volume, and the chain accounted for more than 50% of Uniswap’s cross-chain trading volume and most of the activity in Uniswap v4 Hook pools.

Stablecoin market cap rises back to $311 billion in August

CoinDesk Research said total stablecoin market capitalization rose 1.19% in August to $311 billion, the first monthly increase after three straight months of decline. Because the broader digital asset market rose faster, stablecoins’ market share fell from 13.6% to 11.2%.

During the same period, euro-denominated stablecoins rose 6.0% to a record $776 million, up 68.2% from a year earlier. On-chain real-world assets grew 4.1% to $34.7 billion, while tokenized stocks and equity-like assets rose 11.3% to $4.45 billion.

Garrett Jin’s ZEC short shows more than $18 million in unrealized loss

According to Onchain Lens, early Bitcoin investor Garrett Jin, through address 0x92ea…050e9, holds a short position of about 32,760 ZEC with a notional value of roughly $32.9 million. Based on a current ZEC price of $1,004, the position is showing about $18.36 million in unrealized losses against an entry price of $444. The liquidation price is about $2,609.8.

The same address also holds a BTC long of about 1,330 BTC with an unrealized profit of around $5.15 million. Combined, the two positions show an unrealized net loss of about $13.21 million.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.