Mango Markets' Exploiter Arrested, China Launches an NFT Platform

Stocks are rebounding this morning, with the S&P 500 and Nasdaq up 1.6% and 2.31%, respectively. Equities are still down for the month and over the last week. Relief from negative sentiment was driven by the Labor Department’s reported increase in jobless claims from last week, totaling 225k, slightly higher than the 223k estimate from Dow Jones. Investors hope this could be the first sign of slack in a historically tight labor market, a key consideration the Fed will need to weigh while deciding on the path of rate hikes. Treasury yields are falling, with the U.S 10 Year and 30 Year decreasing by 0.77% and 0.81%. BTC is currently lagging equity gains, trading near $16,600 and up 0.49%. ETH trades around $1,200, gaining 0.78%. BitDAO’s BIT token has risen 18.12% to outperform the top 100 coins by market cap. The move follows a proposal for the DAO to spend $100 million to buy back BIT tokens from the open market, as it was considered to be trading at a considerable discount at the time of the proposal. The program is slated to start on Jan. 1 and has a target daily purchase amount of $2 million USDT for 50 days.