Polygon 2.0, EU Passes Crypto Tax Reporting Legislation

Markets are rising following strong August retail sales and core PPI data in line with expectations. August retail sales jumped 0.6% MoM compared to 0.1% estimates. The producer price index increased 0.7% MoM, higher than the 0.4% expected, but core PPI (excludes food and energy) was in line with estimates at 0.2%. Given the Fed’s focus on core when deciding on future rate hikes and U.S consumer resilience, markets may see glimmers of what could potentially be a soft landing. The S&P is up 0.82%, while the Nasdaq gained 0.78%. Crypto markets are following equities higher, with BTC trading at $26.7k while ETH trades at $1.6k. SOL -9.26%  has outperformed among the top 10 digital assets, reaching ~$19 at writing. Despite FTX receiving permission to liquidate their ~$3.4bn of crypto holdings yesterday, including over $1bn in SOL -9.26% , investors may find solace that a large majority of these assets are restricted via vesting, making the potential market impact more manageable.