Last week’s industry highlights.

Let’s start with the macro perspective. The initial jobless claims in the week ending January 3rd in the US came out at 208,000, slightly below the expected level of 210,000, and the previous figure was revised upward from 199,000 to 200,000. While these numbers may seem like cold employment market data, they directly influence market expectations regarding the Federal Reserve’s policy direction.

Turning to major news in the crypto space. According to The New York Times, President Trump explicitly stated in an interview that he would not consider pardoning FTX founder Sam Bankman-Fried (SBF). Musician Sean Combs (Diddy) also sent a letter requesting a pardon, which was similarly denied. In comparison, Trump has exercised pardons for some political allies in recent years, but SBF is clearly not on that list. Background review: SBF has been convicted of major crimes such as embezzlement of customer funds and financial fraud in 2023, which also signifies that the legal dust has settled on this biggest scandal in the crypto industry.