On the next network upgrade, to improve liquidity and reduce user friction, spot pairs between two spot quote assets will have 80% lower taker fees, maker rebates, and user volume contribution.

The USDH ticker, currently reserved by the protocol, will be released by a validator vote in a transparent, onchain process.
+ The USDH ticker is well-suited for a Hyperliquid-first, Hyperliquid-aligned, and compliant USD stablecoin.
+ After the next network upgrade, validators will be able to vote to allow a user address to purchase the USDH ticker. Voting is fully onchain through a Hyperliquid L1 transaction, in the same way that delisting votes work.
+ As USDH is a canonical ticker with high demand, validators will vote on the team best equipped to build a natively minted, Hyperliquid-first stablecoin. Teams interested in being considered for the ticker may submit a proposal in the USDH Discord forum and should include the user address which would deploy the USDH ticker if selected by a validator quorum. Note that the approved team must still participate in the usual spot deploy gas auction.

For context, spot quote assets will become permissionless in the future, starting with testnet. There will be a staking requirement and slashing criteria to be announced.

BREAKING: Tesla, $TSLA, offers Elon Musk a pay package valued as much as $1 trillion.

If fully realized, this would be the CEO largest pay package in history. https://t.co/PKUHj1abYp
(@TheKobeissiLetter)

*BLS SAYS IT'S EXPERIENCING TECHNICAL DIFFICULTIES

*BLS SAYS DATA RETRIEVAL TOOLS ARE CURRENTLY NOT AVAILABLE

TREASURY 2-YEAR YIELD FALLS TO 3.55%, LOWEST SINCE APRIL 7
(@WalterBloomberg)

🔥🇺🇸 The United States has reported non-farm payrolls for August, showing an increase of 22,000 jobs, falling short of expectations of 75,000 and down from a previous increase of 73,000. The unemployment rate for August stands at 4.3%, meeting expectations but rising from 4.1% in the previous month.

U.S. AUGUST NONFARM PAYROLLS +22,000 (CONSENSUS +75,000) VS JULY +79,000 (PREV +73,000), JUNE -13,000 (PREV +14,000)

*US AUG. NONFARM PAYROLLS RISE 22K M/M; EST. +75K

*US AUG. AVERAGE HOURLY EARNINGS RISE 0.3% M/M; EST. +0.3%

*US AUG. AVERAGE HOURLY EARNINGS RISE 3.7% Y/Y; EST. +3.7%

*US AUG. UNEMPLOYMENT RATE 4.3%; EST. 4.3%

TRADERS ADD TO BETS ON FED INTEREST-RATE CUT IN SEPTEMBER

GOLDMAN SACHS TRADER: BUY THE SEPTEMBER DIP.

Goldman Sachs macro trader Paolo Schiavone advises buying September’s stock dip, predicting the S&P 500 could climb to 6,700–6,900 as rate cuts boost growth.

In a note issued before the latest jobs report, he said markets are already pricing in a Fed cutting cycle that will spur economic re-acceleration. August jobs growth was just 22,000 vs. 75,000 expected, with unemployment at 4.3%. The weak data pushed the dollar lower, yields down, and stocks higher.

Schiavone sees the Fed’s long-run rate near 3%, similar to the ECB, and expects stretched valuations in credit and equities to persist. He recommends owning rates volatility, buying equity dips, and watching Nasdaq and Russell indexes for signals.

He also warns of risks from “fiscal dominance,” where central banks lose independence, which could raise front-end rates and stagflation risks. For now, he stresses that incoming data must “carry the load.”
(@WalterBloomberg)

SEC AND CFTC TO CONSIDER ON-SHORING PERPETUAL CONTRACTS FOR U.S. TRADERS: SEC

Link

*HASSETT: JOBS NUMBER LITTLE BIT OF A DISAPPOINTMENT RIGHT NOW

*HASSETT: EXPECT JOBS TO BE REVISED UP

*HASSETT: JOB NUMBER LIKELY BE REVISED UP BY ALMOST 70,000 JOBS

1. Brief intro about yourself and collection history
I’m T, a crypto native currently in my third cycle. Outside of crypto, I’ve been a long-time TCG collector — across MTG, basketball, One Piece, and mainly Pokémon. I started casually as a kid more than 20 years ago, but took it seriously again as an adult with spare funds, especially during down cycles when grail cards and sealed products were overlooked. Over the years, my collection has grown into slabs, sealed product, plushies, and memorabilia — with a special focus on Gengar, Pikachus, and the Eeveelutions. Today, it’s both a passion project and a way to diversify outside crypto and traditional investments like equities.

2. Why do you like collecting Pokémon cards?
At its core, I collect because I genuinely love it. If you treat Pokémon purely as a financial asset, it feels empty. The franchise has a powerful IP and emotional pull — nostalgia, storytelling, cultural relevance. At the same time, it mirrors crypto cycles: hype, correction, accumulation, and revaluation. For me, collecting Pokémon is both passion and hedge — a way to hold cultural Veblen goods that become more desirable as their prices rise.

3. What is your most prized collection?
My most prized pieces aren’t just about dollar value, but what they represent. I’ve picked up grails during bear markets — the kind most people overlook when hype dies. Highlights include the Munch Collection promos, Masaki Gengars, Poncho Pikachus, and carefully chosen sealed sets (25th Anniversary, Team Up, Evolving Skies, 151, Fates series). That discipline — buying when sentiment was low — is what has grown the collection’s value the most.

4. What’s the total estimated value of all your Pokémon collections?
I’d put my collection in the mid six figures today. But I see it less as a number and more as an illiquid cultural portfolio — similar to holding long-tail altcoins (maybe only ETH really fits the bill). Value fluctuates with cycles, and unless you actually love the hobby, you won’t hold through the dips.

5. What are some signs that you use to identify the current stage of the TCG cycle?
It’s very similar to crypto. Late-cycle signals are easy to spot when you zoom out:

Boom of streamers doing “rip and ship” content.

Non-card influencers suddenly diving into Pokémon.

Local card shows popping up almost every other week.

Claw machines and random retail outlets stuffed with Pokémon product.

Shops overextending inventory and suffering during corrections (it’s a very cash-flow heavy business due to high COGS).

Once Pokémon became “everywhere” — even among casual influencers — that was my first sign the market was getting toppish.

6. What are your thoughts on the TCG meta onchain right now?
Dapps like Collector Crypt, Beezie, Rip.fun feel like this cycle’s “RWA cards” meta — similar to Courtyard or NBA Top Shot last cycle. It’s an inevitable experiment: tokenizing slabs and gacha-fying them for revenue and liquidity. But I’m personally bearish for now. Collecting is cultural and tactile — serious collectors want custody. Onchain works as a liquidity tool, not the primary experience. Pokémon’s IP is too strong and too physical to be fully “NFT-ified.”

7. Will you personally use protocols like Collector Crypt?
Maybe, but selectively. I might vault lower-conviction slabs to unlock liquidity, but my grails will never leave my hands. Protocols like this are fine for trading exposure, but they can’t replace the feeling of owning and holding the actual card. Also, remember: the house always wins when it comes to gacha. The real question is — are there true collectors in crypto, or just people chasing a fast flip or a dopamine rush? If it’s the latter, how sustainable is that?

8. Do you think it’s possible that the TCG meta onchain extends into Q4?
It depends on catalysts. If crypto has momentum, influencers pick it up, and Pokémon’s 30th anniversary release lands well, yes — it could extend. But if broader crypto consolidates, I expect TCG-onchain to mirror that and fade. My base case: we enter a true bear market after the 30th anniversary set launches, likely in Q1/Q2 2026.

9. What are some sites that you currently use to monitor the Pokémon market sentiments?

PriceCharting.com – comps and trend tracking.

130point.com/sales/ – invaluable for checking eBay sales data on singles.

eBay sold listings – for real-time liquidity signals.

TCGPlayer & Cardmarket – to gauge retail demand.

PWCC & Heritage Auctions – for high-end market signals.

Instagram & YouTube cardfluencers – for cultural sentiment.

10. Any advice for new collectors?
Focus on singles only don’t rip packs and try streamlining to a couple of pokemons that you like instead of trying to catch them all. It's a very cash intensive hobby. Finally, if you do buy sealed products, put them somewhere out of sight so that you won’t have the urge to rip them 😬😬

NASDAQ 100 TURNS NEGATIVE AFTER ERASING NEARLY 1% GAIN
(@WalterBloomberg)