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Last week’s macroeconomic data came with a twist: a massive job downward revision from the Bureau of Labor Statistics. But is it a recession signal, or just statistical noise?

In this episode of Bits + Bips, Ben Werkman, chief investment officer at Swan Bitcoin, joins hosts Ram Ahluwalia, Noelle Acheson, and Steve Ehrlich to examine why markets shrugged off the data, and what it means for crypto. The panel also discusses:

Whether markets are mispricing macro risk
How Strategy’s latest capital raise may reflect rising treasury company risk
The future of tokenized equity and how Coinbase could unlock private market value
New regulatory signals suggesting the U.S. may allow banks to hold crypto
The rise of “super apps” blending payments, trading, and custody