That 3-Day Weekend Feeling 🧨🇺🇸

It’s the first Friday of the month, and you know what that means: US JOB NUMBERS. 🥳 The country added over 850,000 jobs this June, helping Wall Street find new highs.

The biggest one-month increases were in leisure and hospitality, government, and professional/business services. Only two industries posted net losses— financial activities and construction. 📉 🚧

Restaurants, bars, public schools, retail, and other service categories conducted most of the new hiring. Numbers like these show strong post-COVID recovery. 🎉

Last week, Mashable published an article about “the shady world of influencers promoting cryptocurrency.” 

The article describes how s***coin creators started paying influencers to promote their cryptos, causing pump-and-dumps. Both Kim Kardashian and Tana Mongeau are apparently involved in the scam fad. Oof. 

Mashable also made a high-profile charge against members of the esports organization FaZe Clan. Mashable claims members of the clan participated in“influencer pumps” of two separate cryptocurrencies. The prices of both cryptos tanked after their promotions. 

Last night, FaZe Clan responded by removing one member and suspending three others. The organization said it had “no involvement” with influencer pump-and-dumps, implying FaZe was unaware of its members’ activity. 🤔

Who pays when investors get burned? If subtweets are any indication, it looks like FaZe and its suspended members might have some legal woes. 🤭 ⚖️

Digital-asset management firm Grayscale is helping $ADA.X get a leg up today. The company added the crypto to its large-cap fund. 😊

The firm sold some existing parts of the fund to finance the coin’s inclusion. Cardano is now the fund’s third-largest holding behind Bitcoin and Ethereum. 

The announcement on Twitter helped push $ADA.X up 6.5%. It makes $ADA.X the biggest gainer of the week in the crypto market.

You go, Cardano. 🤘

If you invest with Robinhood, you could get early access to shares of the company’s IPO. Between 20-35% of Robinhood shares might be reserved for the broker’s users. 💰

With that being said, experts are cautioning small investors— Douglas Boneparth, president of Bone Fide Wealth, said: 

“There’s the potential for a lot of volatility with an IPO as the market sorts out what the real value of the company is.”

It’s still uncertain what exact $HOOD share prices will be, but Robinhood’s early IPO shares will be available on the company’s app. UF Finance Professor Jay Ritter shared: 

“If many of Robinhood’s 18 million clients want to buy shares, they will only receive a few shares per account.”

Experts’ #1 recommendation? Do your due diligence before you invest. Here’s CNBC with more on the IPO.