US Jobs Report Beats Expectations, BlackRock Launches Tokenized Treasury Fund On Uniswap, and Crypto Lobby Meets To Solve CLARITY Act Impasse

Takeaways

• US non-farm payroll report tops expectations: Non-farm payrolls increased by 130,000 and the unemployment rate dropped to 4.3% in the US in January, signaling the US economy is in a slightly stronger position than recent estimates. The report from the Bureau of Labor Statistics beat a Dow Jones consensus prediction of 55,000 new jobs, easing some concerns over a slowing labor market. Crypto prices declined following the report as analysts priced in the possibility of less aggressive rate cuts in 2026.
• BlackRock to put tokenized treasury fund on Uniswap: BlackRock announced Wednesday it will put US tokenized treasuries fund BUIDL on Uniswap in the financial giant’s first major foray into decentralized finance. Tokenization company Securitize will lead compliance and handle regulatory matters as part of the deal.
• Crypto and banking lobby still at an impasse on CLARITY Act: The two sides reportedly were unable to reach a compromise at a White House meeting this week after banking industry participants presented a list of rules restricting any stablecoin yield opportunities that went beyond the current version of the CLARITY Act. Banks have drawn a hard line around prohibiting stablecoin rewards for fear customers will pull their money en masse.
• BitMine Immersion buys more Ethereum: BitMine Immersion Technologies announced this week it acquired 40,613 ETH last week amid the crypto market pullback, bringing the Ethereum treasury company’s total crypto stack to approximately $9 billion at current market prices. The company now has about two-thirds of its 2.9 million ETH staked, bringing in more than $200 million annually.

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US Adds 130,000 Non-Farm Jobs in January, Crypto Edges Lower

The report beat a Dow Jones consensus estimate of 55,000, easing some concerns over a slowing labor market after the US added some 48,000 non-farm payrolls in December.

The crypto market initially dropped following the news, with bitcoin dipping below $66,000 on Wednesday.

Bitcoin and other cryptocurrencies are increasingly viewed as a “risk-on” investment that draws more inflows in a low interest-rate environment. For now, retail investor interest remains muted.

BlackRock Announces Plans To List BUIDL On Uniswap

BlackRock has made a strategic investment in Uniswap and purchased an undisclosed amount of UNI as part of the partnership. Tokenization company Securitize will handle regulatory measures and compliance while facilitating the transactions for pre-qualified users.

The fund essentially paves the way for users to trade BUIDL in a decentralized manner sans a traditional intermediary. Launched in 2024, BUIDL is the largest US tokenized treasuries fund, with almost $2.2 billion in total value locked.

Crypto and Banking Lobby Meet Again To Iron Out Market Structure Bill

But the two sides reportedly were unable to reach a deal after banking industry participants presented a strict list of rules restricting any stablecoin yield opportunities that went beyond what’s in the current version of the CLARITY Act. Banks have drawn a hard line around stablecoin rewards for fear customers will pull their money en masse.

Crypto industry leaders at the meeting said the banking lobby were unwilling to discuss a compromise. It marked the second time the two sides had met after the CLARITY Act stalled in the US Senate last month after Coinbase CEO Brian Armstrong pulled support for the legislation. It’s now unclear if the two sides will meet again or if the bill will head back to the US Senate Banking Committee.

Tom Lee’s BitMine Immersion Buys More ETH After Dip

The company now has about two-third of its 2.9 million ETH staked, bringing in more than $200 million annually. It controls more than 3% of the total Ethereum supply.

Bitmine founder Tom Lee defended the buying decision in an appearance this week on CNBC, arguing Ethereum’s price action didn’t reflect its growing utility. The company has reportedly endured a paper loss of nearly $8 billion on its Ethereum holdings, with an average purchase price of $3,826. Bitmine’s shares have dropped nearly 38% so far in 2026 but are still up more than 200% over the past year.

"Bitmine has been steadily buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals,” Lee said. “In our view, the price of ETH is not reflective of the high utility of ETH and its role as the future of finance.”

-Team Gemini