Market report for traders
🔮 BTC, ETH, and Altcoins
Over the last 7 days, Bitcoin ends at AU$176,118 moving -3.63% at the time of writing. Meanwhile, Ethereum ends at AU$5,572 moving -4.05% week-on-week. On the Altcoin side, Solana -8.88%, Dogecoin -10.12%, and XRP -4.06% change.
🗞 What’s happening in the news?
🏦 JPMorgan CEO’s Surprising Stablecoin PivotJamie Dimon, CEO of
Jamie Dimon, CEO of JPMorgan, has changed his tune on crypto. Speaking to CNBC, Dimon said he’s “a believer in stablecoins,” noting the move is driven by customer demand, not internal conviction. This marks a sharp pivot from 2017, when he called Bitcoin a “fraud.” Now, JPMorgan is developing its own stablecoin and blockchain tools. As Dimon put it, “There’s never been a new financial product that didn’t entail risk.”
🗿 Satoshi Statue Recovered from Lake in Lugano
The iconic Satoshi Nakamoto statue in Lugano, created by Italian artist Valentina Picozzi, was reported missing on August 3 and later found in a nearby lake. The statue is made from striped panels that form Satoshi’s silhouette from the side, but appear as fading code when viewed head-on. It was unveiled in October 2024 as part of Lugano’s push to become a global Bitcoin hub. Satoshigallery offered a 0.1 BTC reward (around AU$11,430) for its return. The theft is believed to be linked to Swiss National Day celebrations. Artist Picozzi has suggested repairing the statue using Kintsugi, a Japanese method of fixing broken objects with gold, and has launched a petition asking the city for security support. The gallery plans to install replicas of the statue in 21 cities around the world.
🚀 US Pushes for Crypto Resurgence with Return of Major Firms
SEC Chair Paul Atkins and Treasury Secretary Scott Bessent are driving efforts to “reshore crypto” under the Trump administration’s campaign to make the US a global digital asset hub. On Friday, Bessent declared, “The US has entered the golden age of crypto,” urging builders to “Start your companies here. Launch your protocols here. And hire your workers here.” The combination of pro-crypto rhetoric, concrete legislation and a clearer regulatory climate is starting to deliver results. For many firms, the US now offers more legal certainty, easier access to capital, and a large domestic market. In response, Bitcoin mining manufacturers and hardware producers are shifting production and setting up new facilities in the US, indicating renewed confidence in the country’s long-term role in the crypto economy.
📖 What we’ve been reading
Tokenization of Real-World Assets is Gaining Momentum, Says Bank of America
Discussions with investors show a growing focus on the tokenization of real world assets, including stocks, bonds, and real estate. Read more ➔
Saylor’s Strategy has doubled its Bitcoin stash since Trump’s election
Strategy has amassed 60% of its total holdings since Trump’s election, with its third-largest dollar-value purchase last week. Read more ➔
From Beam to Lean: Ethereum plots a century of resilience
New “Lean Ethereum” vision transforms a network-layer refactor into a long-term roadmap for post-quantum security. Read more ➔
*Disclaimer: The information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions.*
