BlockBeats reported on August 7th that, just as the market was bracing for the Federal Reserve's next policy path, Friday's US July non-farm payroll report delivered a heavy blow, shattering the illusion of strong economic growth. Data showed that the US economy not only failed to achieve the expected 80,000 job growth in July, but actually shrank by 23,000 jobs. While the surface data was "appalling," the unemployment rate unexpectedly fell to 4.1%. This seemingly contradictory phenomenon is actually due to a cumulative decline of 0.7 percentage points in the labor force participation rate since the beginning of the year.

Analysts are divided in their interpretation of this "terrible" report. Thomas Ryan, senior economist at Capital Economics, bluntly stated that although the current weakness is not yet reflected in broader indicators, it is enough to make Federal Reserve officials reassess the health of the labor market and reduce their willingness to further tighten monetary policy in the near term.

Morgan Stanley Wealth Management's chief economic strategist, Ellen Zentner, analyzed that while the weak jobs data did ease pressure for a September rate hike, she warned that the Fed's decisions are not a single-variable function. If next week's inflation data exceeds expectations, even a cooling job market may not quell internal calls for a rate hike.

Lindsay Rosner, head of multi-segment fixed income at Goldman Sachs Asset Management, observed that this marks the third consecutive year of "summer momentum failure." While slower job growth supported the view of keeping interest rates unchanged in September, she emphasized that the final say still rests with inflation data.

Former Dallas Fed President Richard Fisher offered a different perspective. He argued that the labor force is more resilient than expected, and more importantly, wage growth is slowing, which will effectively curb consumer inflation expectations.

Bradford Smith, portfolio manager at Jenners Henderson, believes the Federal Reserve is unlikely to change course based on a single data point. Currently, the market's attention has quickly shifted beyond the jobs report to next week's CPI data, which will be the ultimate determinant of the Fed's September action.

According to BlockBeats, on August 7th, Galaxy Research confirmed that the Coldcard security incident resulted in the theft of 1,719 BTC, worth approximately $111 million, with the actual loss estimated to exceed $130 million. The research team has tracked over 25 attack patterns and believes multiple attackers are simultaneously exploiting the vulnerability. They have received reports from over 250 victims; if all pending cases are confirmed, the total amount stolen could exceed 2,300 BTC.

Galaxy Research states that there is currently no evidence that the vulnerability affects signature devices or wallets other than Coldcard Mk3, Mk4, Mk5, and Q. Researchers have received reports from over 250 victims; if all currently unconfirmed cases are verified, the total amount stolen could exceed 2,300 BTC, but this figure remains unconfirmed.

According to BlockBeats, on August 7th, Tom Lee commented on tonight's disappointing non-farm payroll data, pointing out that the market suffers from "inflation paralysis." Despite inflation being on a downward trend, the market remains impatient and hawkish. "Following the jobs report, the probability of a September rate hike plummeted from 75% two weeks ago to below 40%, after many economists had previously advocated for an earlier rate hike. This reaction highlights the market's excessive concern about inflation."

Tom Lee advises investors to avoid misjudging the current situation based on memories of high inflation in 2022.