News

Jinse Finance reported that the team behind YO Protocol, YO Labs, announced the completion of a $10 million Series A funding round, led by Foundation Capital, with participation from an exchange, Scribble Ventures, and Launchpad Capital. To date, its total funding has reached $24 million. The company plans to use these funds to expand its yield optimization protocol to more blockchains and improve its infrastructure.

Jinse Finance reported that an analysis by the Financial Times pointed out that the U.S. non-farm payrolls report to be released next Tuesday will include data for both October and November, ultimately providing policymakers and investors with a more complete picture of the U.S. labor market and ending months of partial "blind flying." After a highly divided meeting this week, the Federal Reserve lowered interest rates to a three-year low, with several officials dissenting. The main debate centered on whether to prioritize tackling high inflation or addressing the weak job market. Economists at Citigroup noted that the upcoming employment report may send more mixed signals. The bank expects a decrease of about 45,000 jobs in October, but an increase of 80,000 in November. Citigroup economists stated that this rebound is likely more related to seasonally adjusted data rather than a "genuine improvement in worker demand." They also predict that the unemployment rate will rise from 4.4% to 4.52%, while a Reuters survey of economists shows an unemployment rate of 4.4%. The Federal Reserve's own quarterly forecast shows a median unemployment rate of about 4.5% by the end of this year. (Golden Ten Data)