Crypto News Today: US Loses 92K Jobs, First Polkadot ETF Launches on Nasdaq, $805B Stock Market Wipeout

Written by AffMiss Editorial · Published: 7 March 2026 · 8 min read

US Economy Loses 92,000 Jobs in February — Worst Miss Since 2020

The US economy shed 92,000 jobs in February, according to Bureau of Labor Statistics data released Friday. Markets had expected a gain of 60,000. The unemployment rate rose to 4.4% from 4.3% in January. Average hourly wages rose 0.4% to $37.32.

This is the first negative payroll print since December 2020. January’s figures were revised down from 130,000 to 126,000, compounding the weakness. The miss puts Federal Reserve rate cuts back in play for the first half of 2026 — a scenario that had largely been priced out of bond markets.

Impact on Crypto

BTC held above $70,000 despite the shock, showing resilience compared to equities. Weak jobs data typically strengthens the case for looser monetary policy, which benefits risk assets including crypto. If the Fed signals rate cuts at its March 18 meeting, BTC and ETH could rally as cheaper capital flows back into speculative assets. However, if weakness deepens into a recession signal, all risk assets face downside pressure — crypto included.

$805 Billion Wiped from US Stock Market in Single Session

US equities posted their worst session of 2026 on Friday. More than $805 billion in market value was erased across the S&P 500. Major tech stocks led the decline: NVDA −3.01%, META −2.38%, AMZN −2.62%, TSLA −2.17%, AAPL −1.09%, GOOGL −0.78%. Semiconductors were hit hardest, with INTC −5.51%, AMD −3.52%, and AVGO −0.69%.

The sell-off was driven by the jobs miss, ongoing Middle East tensions, and concern over the economic impact of Trump’s tariff policies. The 30-day rolling correlation between BTC and the S&P 500 stands at 0.55 — high enough that sustained equity weakness would eventually drag crypto lower, but Friday’s data showed BTC outperforming on a relative basis.

21Shares Launches First US Spot Polkadot ETF (TDOT) on Nasdaq

21Shares launched the 21Shares Polkadot ETF (ticker: TDOT) on Nasdaq on Friday — the first US spot ETF providing direct exposure to DOT. The fund was seeded with approximately $11 million, charges a 0.30% management fee, and holds physical DOT tokens with Coinbase as custodian. The ETF may also stake a portion of its holdings to generate yield for investors.

DOT traded near $1.47–$1.53 at launch — down 97% from its November 2021 all-time high of ~$55. Polkadot is scheduled to implement a major tokenomics overhaul on March 12, introducing a hard supply cap of 2.1 billion DOT and cutting emissions by 53.6%.

TDOT joins 21Shares’ growing US crypto ETF lineup: BTC, ETH, XRP ($174M AUM), SOL, SUI ($12.5M AUM), and DOGE. The XRP fund remains the firm’s most popular altcoin product. The Polkadot listing signals continued regulatory openness toward altcoin ETFs under the Trump administration.

CFTC Chair Selig: Crypto Is a “Check” on Bank Deplatforming

CFTC Chairman Michael Selig described crypto as a “control mechanism” against banks refusing services and financial exclusion. The remarks, made at a Washington policy event, frame crypto as a structural alternative to banking gatekeeping — a departure from previous regulatory rhetoric that treated crypto as a risk to financial stability.

Selig has moved aggressively since taking office in December 2025. He launched Project Crypto (a joint SEC–CFTC initiative), announced perpetual futures guidance within 4 weeks, expanded tokenised collateral eligibility (BTC, ETH, USDC accepted as margin), and will speak at Bitcoin 2026 in Las Vegas (April 27–29). He is the sole commissioner on the CFTC’s five-member body, giving him unilateral authority to issue guidance until additional commissioners are confirmed.

Other Headlines

Story	Detail	Source
Bessent: may lift Russia oil sanctions	US Treasury Secretary said the administration may remove oil sanctions on Russia, potentially lowering crude prices and easing inflation pressure	Reuters
ECB warns on stablecoin risk	ECB working paper: stablecoin growth weakens monetary policy transmission. For every 10% stablecoin growth → 0.2% lending reduction in eurozone	ECB (covered in March 4 edition)
Mastercard “Verifiable Intent”	New trust layer developed with Google. Uses cryptographic verification for AI-initiated purchase transactions	Mastercard press release
Kazakhstan central bank: $350M into digital assets	Plans to invest gold and forex reserves into crypto infrastructure firms, tech stocks, and digital asset funds	CoinDesk
Strike secures NY BitLicense	NYDFS approval allows Bitcoin payments company to offer trading, bill pay, and custody products in New York	CoinDesk

Catalysts Next Week

Date	Event	Why It Matters
March 10–12	DC Blockchain Summit	Lawmakers and regulators discuss crypto policy; potential Clarity Act signals
March 12	Polkadot tokenomics overhaul	2.1B DOT hard cap + 53.6% emissions cut → supply shock for DOT holders
March 18	Federal Reserve rate decision	Jobs miss strengthens rate cut case. Dovish guidance = bullish for crypto.
March 18–20	Digital Asset Summit (New York)	Institutional audience; Clarity Act timeline clarity
~April	CFTC perpetual futures guidance	Onshore perps could redirect $85B+ in offshore volume to US venues

Crypto News FAQ — 7 March 2026

How does the US jobs report affect crypto?

Weak jobs data (like February’s −92,000 miss) strengthens the case for Federal Reserve rate cuts. Lower interest rates make risk assets — including crypto — more attractive because cheaper capital flows into speculative markets. However, if weak jobs signal a recession, all risk assets including BTC face downside pressure. Watch the Fed’s March 18 statement for guidance.

What is the Polkadot ETF (TDOT)?

TDOT is the first US spot ETF tracking Polkadot (DOT), launched by 21Shares on Nasdaq on March 6, 2026. It holds physical DOT tokens (Coinbase custody), charges 0.30% fee, and was seeded with $11 million. It may stake DOT holdings to generate yield. DOT traded near $1.47–$1.53 at launch.

Why did US stocks drop $805 billion?

The sell-off was driven by the February jobs report (−92K vs +60K expected), Middle East tensions, and concern over Trump’s tariff policies. Tech stocks led the decline: NVDA −3%, META −2.4%, AMZN −2.6%. BTC held above $70,000, outperforming equities on a relative basis.

What did CFTC Chair Selig say about crypto?

Selig called crypto a “control mechanism” against bank deplatforming and financial exclusion. He has launched Project Crypto (joint SEC–CFTC), plans perpetual futures guidance within weeks, and expanded tokenised collateral (BTC, ETH, USDC as margin). He is the sole sitting CFTC commissioner, giving him broad authority to act.