Bitcoin Mining Opportunity Is Worth About $74B, JPMorgan Says

The Wall Street bank updated its models and price targets for the miners to account for second quarter results and changes in the price of bitcoin and the network hashrate.Source

Donald Trump Teases ‘The DeFiant Ones’ Crypto Project on Truth Social

“It’s time we take a stand – together,” Trump wrote on his Truth Social account with a Telegram group link to the unreleased decentralized finance platform.Source

DeFi Summer Is Making a Comeback, Steno Research Says

Total value locked across the crypto ecosystem is expected to reach an all-time high in the first half of next year, the report said.Source

Bitcoin Tops $61K Before Powell’s Jackson Hole Speech as Ether ETFs Face Record Outflows

Comments at the Jackson Hole symposium later Friday may give clues about the Federal Reserve monetary policies, will boost or undermine prices of risk assets, including bitcoin.Source

Australia’s Securities Regulator Wins Case Against Kraken’s Local Operator

The Federal Court of Australia ruled on Friday that cryptocurrency exchange Kraken’s operator in Australia, Bit Trade Pty Ltd, “contravened” with a section of the nation’s Corporations Act.Source

Sony, Electronics Pioneer Behind Walkman, Starts Own Blockchain ‘Soneium’

The new project, “Soneium” will be a layer-2 network atop the Ethereum blockchain, using technology from Optimism’s OP Stack.Source

R.I.P. Unhosted Wallet Rule

In 2020, the Financial Crimes Enforcement Network proposed imposing know-your-customer requirements on unhosted wallets, drawing immense backlash from the crypto industry. This week, the Treasury Department formally withdrew the proposal.Source

From Chaos to Crypto: The Crecimiento Movement Igniting Argentina

A month-long pop-up in Buenos Aires is showing how crypto can potentially transform an economy from the bottom-up.Source

Meeting Binance CEO Richard Teng

Four takeaways from CoinDesk’s interview in New York yesterday.Source

CluCoin Founder Pleads Guilty to Stealing $1.1M of Investor Funds for Online Gambling

The founder of Miami-based crypto project CluCoin has pleaded guilty to stealing over $1 million from investors and spending the money at online casinos.Source