A Trump-linked crypto project is similar to a recently hacked app and Bitcoin mining profitability is at a record low.

This is CoinDesk Daily. I'm your host, Jen Sanassi.

CoinDesk has obtained excerpts of a white paper for World Liberty Financial, a Trump crypto project linked to a $2 million

defy hack, the document and other reporting describe a borrowing and lending service similar to Doe Finance.

A recently hacked blockchain app built by four people listed as team members of World Liberty Financial.

According to a person familiar with the plans, the project will

also include a new cryptocurrency. Though the app isn't ready for prime time, a review of a since-deleted

code base on GitHub shows that the project, at least in its early stages, appears to have

lifted code directly from Doe Finance, which lost $2 million in July's hack.

Bitcoin mining profitability is stuck at record lows, according to J.P. Morgan.

In a research report, analysts said they estimate that Bitcoin miners earned reward revenue

in August at the lowest point on record.

Mining stocks declined as the average price of the world's largest cryptocurrency fell for

the third consecutive month and the network hash rate rose.

Hash rate refers to the total combined computational power used to mine and process transactions

on a proof of work blockchain.

The report noted that the total market cap of the 14 U.S. listed miners

tracked by the bank shrank 15% month-on-month to $20 billion, with only three of the miners

outperforming Bitcoin in the period. And Ripple is close to launching its U.S. dollar-pegged

stable coin RLUSD. Ripple Lab CEO Brad Garlinghouse said that the project will

launch soon in weeks and not months at a Korea blockchain week event. He stated that plans for the

token were made after USC, the second largest stable coin by market cap of $34 billion lost its

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