Tether Attains SOC 2 Compliance and Adds to Bitcoin Holdings, Telegram Enables Ad Purchases with TON

The ISM Manufacturing Survey was released this morning, exceeding expectations and showing the first expansion since September 2022. The data has helped the DXY (+0.48%) surpass $105 and cause treasury yields to surge across the curve as investors rethink the potential timing and amount of rate cuts this year. Crypto assets are selling off to start the month, with BTC (-3.28%) dropping to $68.8k and ETH (-5.38%) falling below $3,450. After outperforming last week, meme coins are cooling off, with WIF, BONK, and PEPE declining over 10% today. Equity indices are holding up, with the SPY (-0.32%) showing modest declines and the QQQ (+0.05%) being roughly flat. It is a busy macroeconomic week, with multiple Fed speeches dispersed throughout the week and JOLTs, ADP Employment, and Non-Farm Payrolls data set to be released.