By Omkar Godbole (all times ET unless stated otherwise)

Just 10 days after the U.S. Department of Commerce started posting economic data on a selection of blockchains, the reliability of its data is being questioned by some observers.

On Tuesday, the U.S. Bureau of Labor Statistics disclosed a startling figure: The economy created nearly 1 million fewer jobs than reported in the year ended March. The record revision calls into question earlier optimism about the strength of the labor market, casting doubt on all risk-on positions traders took in the past year or so.

Markets interpreted the downward revisions as another sign the Fed will introduce aggressive easing in the coming months. One popular Polymarket trader is betting that the Fed will cut rates by 50 basis points on Sept. 17.

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