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Date: Thu, 12 May 2022 06:14:01 +0000
Feedback-Id: 1.us-east-1.TQLiVf/rBjClwRiRLqnvdJT2gxVOHcgDf6Da6aS84zo=:AmazonSES
From: Coinbase Bytes <newsletter@mail.coinbase.com>
Message-ID: <01000180b6e71c8d-774a6e33-6c17-496d-a790-a570dd6677b8-000000@email.amazonses.com>
Mime-Version: 1.0
Reply-To: newsletter@mail.coinbase.com
Subject: TerraUSD and the cryptocurrency selloff
To: Vincent Herbert <vince@showfile.com>

------=_Part_1308538_167196567.1652336040979
Content-Type: text/plain; charset=UTF-8
Content-Transfer-Encoding: quoted-printable

Coinbase Bytes How UST lost its dollar peg and potentially accelerated=20
Bitcoin=E2=80=99s selloff. View in browser=20
<https://links.coinbase.com/e/evib?_t=3D3aca56371967418192255878e9689713&_m=
=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3D_3xQO-JccIbFYplRU0YT8u8rGpy8lrX_nE=
RoP3O1_FWFxDsQYmrmLk06k4veRBbnyiqpWm0-K5YEuE5tAL7SEtyAz5ITEttQ8GuB62eCJSUxt=
X3j1_Thz34-QacbT0wzrc0wUNr3rdiEyOgjCOmvAQ%3D%3D>
 <https://coinbase.com>=20
 12-May-2022=20
 <https://coinbase.com/>=20
What a headache. The stock and crypto markets continue to endure serious=20
turbulence this week. [Bloomberg via Getty Images]

What=E2=80=99s up? It=E2=80=99s Coinbase Bytes=20

There=E2=80=99s never a dull moment on the blockchain. Here=E2=80=99s what =
you need to know=20
this week:

 * Bitcoin dropped to 2022 lows. Meanwhile a struggling =E2=80=9Calgorithmi=
c=20
stablecoin=E2=80=9D exacerbated market selloff fears. We=E2=80=99ll break i=
t all down.=20
 * More U.S. states are embracing crypto. Virginia, Oklahoma, and Texas are=
=20
among several states making web3 moves.=20
 * The week in numbers. The number of websites that could instantly enable=
=20
DOGE payments and other key stats to know this week.=20




Bitcoin

 =C2=A322,046.46=20

 -30.08%=20
 <https://coinbase.com/price/bitcoin?bytes_title=3Dbitcoin>=20

Ethereum

 =C2=A31,487.95=20

 -36.47%=20
 <https://coinbase.com/price/ethereum?bytes_title=3Dethereum>=20


Binance USD

 =C2=A30.82=20

 +2.95%=20
 <https://coinbase.com/price/binance-usd?bytes_title=3Dbinance-usd>=20

Solana

 =C2=A334.20=20

 -54.09%=20
 <https://coinbase.com/price/solana?bytes_title=3Dsolana>=20


Cardano

 =C2=A30.34=20

 -50.83%=20
 <https://coinbase.com/price/cardano?bytes_title=3Dcardano>=20

Dogecoin

 =C2=A30.06=20

 -43.84%=20
 <https://coinbase.com/price/dogecoin?bytes_title=3Ddogecoin>=20


Bitcoin

 =C2=A322,046.46=20

 -30.08%=20
 <https://coinbase.com/price/bitcoin?bytes_title=3Dbitcoin>=20

Ethereum

 =C2=A31,487.95=20

 -36.47%=20
 <https://coinbase.com/price/ethereum?bytes_title=3Dethereum>=20

Binance USD

 =C2=A30.82=20

 +2.95%=20
 <https://coinbase.com/price/binance-usd?bytes_title=3Dbinance-usd>=20


Solana

 =C2=A334.20=20

 -54.09%=20
 <https://coinbase.com/price/solana?bytes_title=3Dsolana>=20

Cardano

 =C2=A30.34=20

 -50.83%=20
 <https://coinbase.com/price/cardano?bytes_title=3Dcardano>=20

Dogecoin

 =C2=A30.06=20

 -43.84%=20
 <https://coinbase.com/price/dogecoin?bytes_title=3Ddogecoin>=20
Price changes are for the past week, ending on May 12, 2022 at 06:12 AM UTC
See the latest prices <https://coinbase.com/price>=20



 STABLE STAKES=20

Markets sag to 2022 lows as crypto world is riveted by a struggling=20
=E2=80=9Calgorithmic stablecoin=E2=80=9D

For months, markets have been shocked by historic inflation, a global suppl=
y=20
chain tied in knots, the war in Ukraine, and rising interest rates =E2=80=
=94=C2=A0including,=20
this week, the Federal Reserve=E2=80=99s biggest rate hike intwo decades=20
<https://www.cnn.com/2022/05/04/economy/federal-reserve-interest-rate-hike/=
index.html>
. In response, crypto and stock prices hit new 2022 lows. But for crypto=20
specifically, the week brought a strange new twist: the struggles of a=20
dollar-pegged stablecoin called TerraUSD (UST), which had recently become t=
he=20
third-largest stablecoin by market cap, with $18 billion in circulation. In=
=20
recent days, UST has slipped below a dollar, falling as low as 62 cents by=
=20
Monday night and leading many to wonder if it will survive. We=E2=80=99re b=
reaking down=20
this (complicated!) saga, so buckle up.

 * Crypto is famously volatile =E2=80=94 but stablecoins are designed to ho=
ld their=20
value within fractions of a percent.Unlike a more traditional stablecoin li=
ke=20
USDC <https://www.coinbase.com/usdc>, which is backed by dollar-denominated=
=20
assets held in segregated accounts with U.S.-regulated financial institutio=
ns,=20
UST is backed byanother cryptocurrency called LUNA (UST holders are suppose=
d to=20
be able swap each UST for a dollar=E2=80=99s worth of LUNA). The supply of =
UST and LUNA=20
is dynamically controlled by an algorithm that=E2=80=99s designed to work l=
ike a=20
central bank =E2=80=94 with the goal of keeping UST=E2=80=99s price steady =
at one dollar.=C2=A0=20
 * Here=E2=80=99s how it=E2=80=99s supposed to work: each time a UST is swa=
pped for LUNA, the=20
UST is burned (or removed from circulation), and vice versa. If UST falls b=
elow=20
a dollar, holders are incentivized to make a profit by swapping UST for a=
=20
dollar=E2=80=99s worth of LUNA =E2=80=94=C2=A0and because the UST is burned=
, supply is reduced until=20
UST=E2=80=99s value reaches a dollar again. Another tool Terra uses to help=
 boost UST=20
is the decentralized lending protocol Anchor, which is built on the Terra=
=20
blockchain, and recently offered interest rates around 20% for UST deposits=
=20
(raising concernsamong some critics=20
<https://www.bloomberg.com/news/articles/2022-03-23/terra-s-promise-of-20-d=
efi-return-raises-sustainability-concern?sref=3DaInCMkkj>
 that such yields were unsustainable).=20
 * The exact reason UST became untethered from the dollar remains unclear, =
but=20
on Saturday, hundreds of millions of dollars worth of both UST and LUNA wer=
e=20
rapidly sold across exchanges, pushing UST to around 98 cents. While UST=E2=
=80=99s=20
price rebounded within hours, the stablecoin=E2=80=99s troubles were just b=
eginning. As=20
panic set in and more holders tried to exit, somereportedly=20
<https://thedefiant.io/luna-loses-half-its-value-in-24-hours-as-defi-tokens=
-crater/>
 found that they were unable to redeem their UST for the promised $1 in LUN=
A.=20
Citing =E2=80=9Chigh volume,=E2=80=9D Binance also temporarily halted withd=
rawals of both UST=20
and LUNA. By Tuesday, LUNA =E2=80=94=C2=A0which had been trading above $115=
 five weeks ago =E2=80=94=20
fell below $25.=C2=A0=20
 * What impact have Terra=E2=80=99s struggles had on Bitcoin? Over the last=
 few=20
months, Do Kwon, the founder of the Terra Luna ecosystem,purchased=20
<https://www.bloomberg.com/news/features/2022-04-19/terraform-s-do-kwon-s-h=
uge-bitcoin-buys-catch-crypto-billionaires-attention?sref=3DaInCMkkj>
 around $3.5 billion worth of BTC via a nonprofit called the Luna Foundatio=
n=20
Guard (LFG) to help back the stablecoin =E2=80=94=C2=A0including $1.5 billi=
on added just=20
last week. As The Wall Street Journalreports=20
<https://www.wsj.com/articles/cryptocurrency-terrausd-falls-below-fixed-val=
ue-triggering-selloff-11652122461>
, analysts believe that BTC=E2=80=99s 10% dip on Monday was triggered in pa=
rt by=20
holders selling over the weekend out of concern that LFG might begin to div=
est=20
and flood the market.=C2=A0=20


Why it matters=E2=80=A6 The future of the Terra ecosystem remains unclear =
=E2=80=94=C2=A0UST=20
<https://www.coinbase.com/price/terrausd> hovered around 90 cents for much =
of=20
Tuesday before revisiting 70 cents =E2=80=94=C2=A0but its struggles are a g=
ood reminder that=20
there=E2=80=99s no such thing as yield without risk. In a fizzy bull market=
, it can=20
feel like there=E2=80=99s nowhere to go but up, and in a down market it's e=
asy to panic=20
and bail on all your positions. Which is why we=E2=80=99ve created a guide =
for managing=20
moments like these, full of useful strategies likedollar-cost averaging=20
<https://www.coinbase.com/learn/tips-and-tutorials/dollar-cost-averaging>. =
So=20
if you=E2=80=99re feeling a little (or a lot!) jittery, just take a few dee=
p breaths=20
and give it a read:
Learn to manage downturns=20
<https://www.coinbase.com/learn/tips-and-tutorials/how-to-minimize-your-los=
ses-during-a-falling-market?src=3Dstablestakes_cta>



 STATE OF AFFAIRS=20

States across the U.S. are moving to embrace crypto

While crypto regulation is still a gradual, patchwork effort among various=
=20
acronymed federal agencies and Congress, a growing list of states and citie=
s=20
(watch outMiami=20
<https://www.businessinsider.com/miami-crypto-capital-miamicoin-francis-sua=
rez-bitcoin-ftx-blocktower-capital-2022-2>
!) are making their own web3 moves =E2=80=94 from mining in Fort Worth, Tex=
as to yield=20
farming in Virginia =E2=80=94 with a slew of executive orders, bills, and c=
rypto=20
industry studies. Who=E2=80=99s leading the charge? Let=E2=80=99s take a lo=
ok.

 * Last week, California Governor Gavin Newsom signed an executive order=20
<https://www.gov.ca.gov/2022/05/04/governor-newsom-signs-blockchain-executi=
ve-order-to-spur-responsible-web3-innovation-grow-jobs-and-protect-consumer=
s/>
 that aims to spur =E2=80=9Cresponsible innovation=E2=80=9D for web3 compan=
ies,=C2=A0balancing job=20
creation with regulation. Among the order=E2=80=99s top priorities are crea=
ting a=20
=E2=80=9Cconsistent business environment=E2=80=9D for crypto tech companies=
 (the industry has=20
long balked at alack of clarity=20
<https://www.reuters.com/business/finance/crypto-firms-seek-clearer-us-rule=
s-their-interest-bearing-products-2022-04-27/>
), researching how to incorporate blockchain tech into state operations, an=
d=20
teaching residents of California =E2=80=94 the most populous state in the U=
.S. =E2=80=94 how to=20
prepare for jobs in the growing industry.=20
 * Last month, Oklahoma lawmakers advanced a bill to give bitcoin miners ta=
x=20
incentives worth up to $5 million in an effortto attract=20
<https://www.theblockcrypto.com/linked/134611/illinois-lawmakers-want-to-at=
tract-bitcoin-miners-to-the-state-with-data-center-tax-incentives>
 mining firms.Oklahoma=E2=80=99s bill would exempt=20
<https://legiscan.com/OK/text/SB590/2022> commercial mining facilities from=
=20
taxes on business costs like electricity and equipment for the next fifteen=
=20
years. The bill would also recognize bitcoin mining as an =E2=80=9Cindustri=
al process=E2=80=9D=20
that gets the tax advantages of =E2=80=9Chistorical forms of manufacturing =
=E2=80=A6 to=20
encourage the =E2=80=A6 expansion of operations in this state rather than i=
n competing=20
states." Meanwhile, Illinois and Georgia are weighing similar actions.=20
 * Fort Worth, Texas recently became the first city to start mining bitcoin=
,=20
after the city councilunanimously approved=20
<https://www.cnbc.com/2022/04/26/fort-worth-tx-the-first-city-in-the-us-to-=
mine-bitcoin.html>
 an experimental program that will use three mines (worth $600 each) donate=
d by=20
the Texas Blockchain Council. The mines, which will run 24 hours per day, w=
ill=20
add BTC to the city=E2=80=99s balance sheet for the first time and will ope=
rate in a=20
climate-controlled room in Fort Worth=E2=80=99s City Hall.=C2=A0=20
 * However, New York lawmakers are considering a two-year mining moratorium=
,=20
preventing mining firms that use non-sustainable energy from renewing opera=
ting=20
permits. If the bill passes, New York =E2=80=94 home to nearly10%=20
<https://www.cnbc.com/2022/05/05/new-york-bitcoin-mining-moratorium-proceed=
ing-through-state-house.html>
 of Bitcoin=E2=80=99s mining capacity in the U.S. =E2=80=94 would be the fi=
rst state to ban=20
blockchain technology infrastructure.Some in the state=20
<https://www.wsj.com/articles/new-york-is-battleground-for-crypto-mining-fi=
ght-11650583629>
 say limiting energy-intensiveproof-of-work=20
<https://www.coinbase.com/learn/crypto-basics/what-is-proof-of-work-or-proo=
f-of-stake#:~:text=3DProof%20of%20work%20is%20the%20original%20crypto%20con=
sensus%20mechanism%2C%20first,huge%20amount%20of%20processing%20power.>
 mining would help reach climate goals, while others (including Coinbase) p=
oint=20
to thethousands of jobs <https://mobilize4change.org/FF2JdMO> that would be=
=20
lost if the bill passes. (Read ourarticle=20
<https://blog.coinbase.com/fact-check-is-bitcoin-mining-environmentally-unf=
riendly-3559823af6f1>
 on mining and the environment.)=20


Why it matters=E2=80=A6 Financial firms and money managers aren=E2=80=99t t=
he only=20
institutional forces driving crypto adoption. State and local governments a=
re=20
increasingly preparing to embrace crypto-related business opportunities in=
=20
mining, blockchain tech, and even DeFi. And some are even giving it a whirl=
=20
themselves. Virginia=E2=80=99s Fairfax County, which has already allocated =
portions of=20
its pension funds to crypto investments, is looking into the DeFi =E2=80=9C=
degen=E2=80=9D=20
strategy known asyield farming=20
<https://blockworks.co/what-is-yield-farming-what-you-need-to-know/#:~:text=
=3DYield%20farming%20is%20the%20process,in%20return%20for%20their%20service=
s.>
. As=C2=A0 Katherine Molnar =E2=80=94 the chief investment officer of the F=
airfax County=20
Police Officers Retirement System =E2=80=94puts it=20
<https://www.bloomberg.com/news/articles/2022-05-03/virginia-pension-funds-=
mull-investing-in-crypto-yield-farming?sref=3DaInCMkkj>
: =E2=80=9CWe view this as a growth investment.=E2=80=9D
Learn about DeFi yield=20
<https://www.coinbase.com/learn/wallet/how-to-earn-defi-yield-with-avalanch=
e?src=3Daffairs_cta>
 <https://www.coinbase.com/invite?src=3Dinvite_bytes>=20

 NUMBERS TO KNOW=20

455 million

Total number of WordPress-powered websites =E2=80=94 all of which can now=
=20
theoretically enable Dogecoin payments thanks to a new plugin calledEasy=20
Dogecoin Gateway <https://wordpress.org/plugins/easy-dogecoin-gateway/>.

$265,500

Amount (90.5 ETH) that Bored Ape parent company Yuga Labs reimbursed=20
<https://decrypt.co/99521/yuga-labs-refunds-gas-fees-for-failed-transaction=
s-during-bored-ape-otherdeed-mint>
 NFT bidders after they paid high network fees for failed transactions duri=
ng a=20
frenzied bidding war for virtual real estate in a forthcoming metaverse gam=
e=20
calledOtherside=20
<https://www.coinbase.com/bytes/archive/is-bitcoin-coming-to-your-401k#:~:t=
ext=3DHow%20Bored%20Ape%E2%80%99s%20new%20metaverse%20game%20brought%20the%=
20Ethereum%20network%20to%20its%20knees>
.

244

Number of VC funding deals=20
<https://www.theblockcrypto.com/news+/145455/april-crypto-funding-roundup-v=
c-highest-deals>
 for crypto companies in April, an all-time high. The $4 billion monthly to=
tal=20
included a $400 million raise by USDC issuer Circle and a $150 million doll=
ar=20
raise by Sky Mavis, the firm behindAxie Infinity=20
<https://www.coinbase.com/learn/crypto-basics/what-is-axie-infinity>.




 TUNE IN=20

How Vietnam became a global hub for crypto gaming

Even though Axie Infinity exists in its own corner of the metaverse, the=20
pioneeringplay-to-earn=20
<https://www.coinbase.com/learn/market-updates/around-the-block-issue-16>=
=20
crypto game was developed by a company based in Vietnam. Why is the country=
=20
such a hotspot for crypto adoption and blockchain gaming? On the latest epi=
sode=20
ofAround the Block <https://www.coinbase.com/around-the-block>, host Justin=
=20
Mart sits down with Howard Xu, founder of Ancient8 =E2=80=94 Vietnam=E2=80=
=99s largest=20
blockchain gaming guild =E2=80=94 to talk about the future of =E2=80=9CGame=
Fi=E2=80=9D and why Vietnam=20
is uniquely qualified to lead the next phase of crypto gaming.
Listen to Around The Block=20
<https://open.spotify.com/show/4QsMNyNEUDu62E3L1PSlWB?src=3Dtunein_cta>=20



 TOKEN TRIVIA=20

Which of the following is not a stablecoin?

A LINK=20
B USDC=20
C DAI=20
D USDT=20
Find the answer at the end of the email.
Learn about stablecoins=20
<https://www.coinbase.com/learn/crypto-basics/what-is-a-stablecoin?src=3Dto=
kentrivia_cta>



 NOW TRADING ON COINBASE=20

BUSD=20
Binance USD (BUSD) is a stablecoin running on Ethereum.=20
 <https://www.coinbase.com/price/binance-usd?bytes_new=3Dbinance-usd>=20
GMT=20
GMT is a Solana token that governs STEPN, a lifestyle app that encourages=
=20
users to =E2=80=9Cmove-to-earn.=E2=80=9D
 <https://www.coinbase.com/price/stepn?bytes_new=3Dstepn>=20
GAL=20
GAL is an Ethereum token that powers Project Galaxy, a network for on- and=
=20
off-chain credentials (such as for credit scoring applications).
 <https://www.coinbase.com/price/project-galaxy?bytes_new=3Dproject-galaxy>=
=20
GST=20
GST is a Solana token that powers STEPN, a Web3 lifestyle app that encourag=
es=20
users to =E2=80=9Cmove-to-earn.=E2=80=9D
=20
<https://www.coinbase.com/price/green-satoshi-token?bytes_new=3Dgreen-satos=
hi-token>


Trivia answer

A LINK=20

 <https://itunes.apple.com/us/app/coinbase-bitcoin-wallet/id886427730?mt=3D=
8> =20
<https://play.google.com/store/apps/details?id=3Dcom.coinbase.android>=20
Disclaimer: This material is the property of Coinbase, Inc., its parent and=
=20
affiliates ("Coinbase"). The views and opinions expressed herein are those =
of=20
the author and do not necessarily reflect the views of Coinbase or its=20
employees and summarizes information and articles with respect to=20
cryptocurrencies or related topics that the author believes may be of inter=
est.=20
This material is for informational purposes only, and is not (i) an offer, =
or=20
solicitation of an offer, to invest in, or to buy or sell, any interests or=
=20
shares, or to participate in any investment or trading strategy, (ii) inten=
ded=20
to provide accounting, legal, or tax advice, or investment recommendations =
or=20
(iii) an official statement of Coinbase. No representation or warranty is m=
ade,=20
expressed or implied, with respect to the accuracy or completeness of the=
=20
information or to the future performance of any digital asset, financial=20
instrument or other market or economic measure. The information is believed=
 to=20
be current as of the date indicated on the materials. Recipients should con=
sult=20
their advisors before making any investment decision. Coinbase may have=20
financial interests in, or relationships with, some of the entities and/or=
=20
publications discussed or otherwise referenced in the materials. Certain li=
nks=20
that may be provided in the materials are provided for convenience and do n=
ot=20
imply Coinbase's endorsement, or approval of any third-party websites or th=
eir=20
content. Coinbase, Inc. is not registered or licensed in any capacity with =
the=20
U.S. Securities and Exchange Commission or the U.S. Commodity Futures Tradi=
ng=20
Commission.

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 248 3rd St #434 | Oakland, CA 94607 | US
 +1 (888) 908-7930

Unsubscribe=20
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ight:0;max-width:0;display:none;overflow:hidden;font-size:0}.desktop_hide{d=
isplay:block!important;max-height:none!important}}</style> </head> <body st=
yle=3D"margin: 0;padding: 0;-webkit-text-size-adjust: 100%;background-color=
: #FFFFFF;font-family: Helvetica Neue, Helvetica, Arial, sans-serif;font-si=
ze: 16px;color: #0A0B0D;"><span style=3D"color:transparent;visibility:hidde=
n;display:none;opacity:0;height:0;width:0;font-size:0;">How UST lost its do=
llar peg and potentially accelerated Bitcoin=E2=80=99s selloff.</span><img =
src=3D"https://links.coinbase.com/e/eo?_t=3D3aca56371967418192255878e968971=
3&amp;_m=3D02fe488b38e04201a3adf8dfd36f5d7c&amp;_e=3D_3xQO-JccIbFYplRU0YT8u=
8rGpy8lrX_nERoP3O1_FWFxDsQYmrmLk06k4veRBbnQYOOdq_OU1RqL5G90HTjeU_Pjucghkuls=
ZmDHsxrjoMkZppbchJGmorRpYAlyAjSTjxpwoVhzT3O6ZuVi1c6PpDEgSuoV8HfeWspuHAudQA4=
1EMKYCWW85h2ws08XWAaz30peoXbrLjMUhd6LSO21w%3D%3D" style=3D"border:0;width:1=
px;height:1px;border-width:0px!important;display:none!important;line-height=
:0!important;" width=3D"1" height=3D"1"/> <div id=3D"root" style=3D"min-wid=
th: 320px; background-color: #FFFFFF; width: 100%"> <div style=3D"min-width=
: 320px; max-width: 570px; overflow-wrap: break-word; word-break: break-wor=
d; margin: 0px auto;" class=3D"block-grid"> <div style=3D"padding: 0px 10px=
 10px;"> <div style=3D"text-align: right; margin-bottom: 24px;"><a href=3D"=
https://links.coinbase.com/e/evib?_t=3D3aca56371967418192255878e9689713&_m=
=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3D_3xQO-JccIbFYplRU0YT8u8rGpy8lrX_nE=
RoP3O1_FWFxDsQYmrmLk06k4veRBbnyiqpWm0-K5YEuE5tAL7SEtyAz5ITEttQ8GuB62eCJSUxt=
X3j1_Thz34-QacbT0wzrc0wUNr3rdiEyOgjCOmvAQ%3D%3D" target=3D"_blank" rel=3D"n=
oopener noreferrer" style=3D"color: rgb(91, 97, 110); text-decoration: none=
; line-height: 1.5; font-size: 12px;">View in browser</a></div> <div style=
=3D"margin-bottom: 20px;"> <table style=3D"width: 100%;"> <tbody> <tr> <td =
style=3D"text-align: left; vertical-align: middle;"><a href=3D"https://link=
s.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b3=
8e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_qyS73oipN6y4TzVUk3VB7Rjc8w=
DMUE3WWinBsLq_78asR76B9fMsGH_KBSi8hJBnpKJlkJOhesw363GjKl7QHwVppPN0B22ISlylC=
-VYuyp7SZFD75Le1e0QRtcEaWeKvsQOf2C4E08Vp6k8JwHXRkkKDNtBRV9PoeHXvNCsTE4E5uk6=
S6ggPAbbfm8BHIyjWdkbJYP_IBbKzpmdDFP25CuYBv4fiTEO7F56qKy2Bu-Me0MJVWYzd-vpZgS=
HsLD9gj4F04IdLiujTez_XA5we61Tr_R8NbCg_pKNEJs3EyOeyNrHbPlqO3k9QN8FGBvp5ro9if=
7o0F3DOz47bRuIY4sY8wPtSWWD_qeeyzMDHoDo" title=3D"Coinbase Bytes" target=3D"=
_blank" rel=3D"noopener noreferrer"><img src=3D"https://d15k2d11r6t6rl.clou=
dfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3a=
ca56371967418192255878e9689713/cbytes-4x.png" height=3D"36" style=3D"displa=
y: block; height: 36px;"></a></td> <td style=3D"text-align: right;"><p styl=
e=3D"font-size: 20px; color: rgb(10, 11, 1); margin: 10px 0px 0px;"> 12-May=
-2022 </p></td> </tr> </tbody> </table> </div> <a href=3D"https://links.coi=
nbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e042=
01a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q0pLifBBvUgHTJfo61tiNxTGWCGxfDB=
4Gy6P_hzCypKDdGy8BH22-Da8y19bJKKyYxon4SmzonGp1lDgOeKG4nttjF5k3S1bhv5L1laHLw=
ahho-H8vDFdnFPe7YFM-APviXkFbYYuGuCc_5Oq2SWw8hv2FJb1DpXYkJ41XubC2X-cSMgR-1R_=
zgtCciu7eIxI5gwCF0vUZZAFIe230rb-y_m1YVWdCMfx_tDkBs5dbAdkV_49LqgD9qDaCA6g43q=
24vjpg0uDTl0bnyMk2kJEKk6uB66TQkv7krEo8RzGvuTCSjpmpfTUWNUnfBLvIQ90_aPfgtuUE9=
QycuUvVcjah2_M3R527VlPkt95qa4Dnbi" target=3D"_blank" rel=3D"noopener norefe=
rrer"><img src=3D"https://images.ctfassets.net/q5ulk4bp65r7/2EO9H7Y9h7cxMwQ=
HVBt1uB/ae5649eb1d070f21266b452600fcf4d8/Bloomberg_via_Getty_Image.jpg" wid=
th=3D"100%" style=3D"display: block; width: 100%;"></a> <p style=3D"margin:=
 16px 0px 0px; line-height: 1.5; word-break: break-word; font-size: 12px; c=
olor: rgb(91, 97, 110);">What a headache. The stock and crypto markets cont=
inue to endure serious turbulence this week. [Bloomberg via Getty Images]</=
p> <p style=3D"margin: 48px 0px 16px; font-size: 32px; line-height: 1.26; w=
ord-break: break-word;"><strong>What=E2=80=99s up? It=E2=80=99s Coinbase By=
tes </strong></p> <p style=3D"margin: 0px; line-height: 1.6; word-break: br=
eak-word;">There=E2=80=99s never a dull moment on the blockchain. Here=E2=
=80=99s what you need to know this week:</p> <!--[if mso]><ul style=3D"line=
-height:1.6;mso-line-height-alt:26px;"><![endif]--><!--[if !mso]><!-- --><u=
l style=3D"margin: 10px 0px; padding-left: 24px; line-height: 1.6;"><!--<![=
endif]--> <li style=3D"margin: 0px; padding: 6px 0px;"><strong>Bitcoin drop=
ped to 2022 lows. </strong>Meanwhile a struggling =E2=80=9Calgorithmic stab=
lecoin=E2=80=9D exacerbated market selloff fears. We=E2=80=99ll break it al=
l down.</li> <li style=3D"margin: 0px; padding: 6px 0px;"><strong>More U.S.=
 states are embracing crypto. </strong>Virginia, Oklahoma, and Texas are am=
ong several states making web3 moves.</li> <li style=3D"margin: 0px; paddin=
g: 6px 0px;"><strong>The week in numbers. </strong>The number of websites t=
hat could instantly enable DOGE payments and other key stats to know this w=
eek.</li> </ul> <p style=3D"margin: 0px; padding: 0px;"></p> <!--[if !mso]>=
<!--> <div class=3D"desktop_hide" style=3D"mso-hide:all;display:none;max-he=
ight:0;overflow:hidden;"> <table style=3D"width:100%;table-layout:fixed;mar=
gin:0;"> <tbody> <tr> <td style=3D"padding-top:40px;"> <a href=3D"https://l=
inks.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe48=
8b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q5FiBXk2X_gulZrqjl6aZco=
89eAgWqK1_odXd3_QUrb6NoqK2HH-aW65hxbssGWUCBYqNqUZPSeHI6wkT8zuZPnTgAxrrLXPPI=
qApmWTEc3sxpPQcRlHfgHZ8iQEhoijbRQoWutzg0vFTA-d7t2PWdUJxB6MObqgqniiKVYp8rnYO=
hMi7agtXI1WoeYg70_eKvHF60bQy6cwzdMa6dWYRwweFMRmOvX1mVrmtxvrPyMvE_Djsu60MtTn=
0ohEsAKDbH1IkVsgLF0tEBijJ4QkHxslKDEq_IBazq7RUbah4UaMJ6WWgyttfkKBnhYangEa1WU=
qJfBujduvkz53eliu1fHazV6gLf68NC-Wi8bG5BlwydNnhIHu7X3WrDL1rA5155CGY1Nke8OyVG=
3I5KiplhE%3D" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D=
;"> <table> <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img =
src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5=
713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow=
.png" style=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-align=
:top;" height=3D"12" width=3D"12"/> </td> <td style=3D"padding:0;vertical-a=
lign:top;"> <div style=3D"text-align:left;margin:0px 0px 0px 10px;line-heig=
ht:1;"> <p style=3D"margin:0;"><strong>Bitcoin</strong></p> <p style=3D"mar=
gin:8px 0px;"> =C2=A322,046.46 </p> <p style=3D"margin:0;font-size:12px;"> =
-30.08% </p> </div> </td> </tr> </tbody> </table> </a> </td> <td style=3D"p=
adding-top:40px;"> <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca5=
6371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4I=
Sao7xOdRhJgqoj2_q5FiBXk2X_gulZrqjl6aZcpiEt8u-nkZTP2QDuJHbK-vBpgiNecW5HVsDdg=
Br17uTqLU1xOkUz_b8_kSw92axtyala69YYw51ulSAyG8cOviygTbL51OdnAWaJh6tFby3vSn_f=
ejSygfF0BMgynABaHLq6z6YGiEWUQDWTl2iCe-piMBFdYO6Any1X7kXY9m6k9NE2EHaTaTvkcUp=
mbrTu04_xNmw3dgk2v-jzl0VvQgyzM3N0hXpi49w04NBECrw4mhqaV0CTYLdUFYuR6dYEhVG9Dr=
XQ0ey0mYMMQL0EG6n5k5eqIEzNJx9ghvdM9659rbgY3v7geL7rScT4LSCmsJ4r2aWn2FnTzEYwa=
et4BV0FUlfNnlUQSSfissTXkYOwXtnSPaoRApHtFP_HtQbto%3D" target=3D"_blank" styl=
e=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=
=3D"padding:0;vertical-align:top;"> <img src=3D"https://d15k2d11r6t6rl.clou=
dfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3a=
ca56371967418192255878e9689713/down-arrow.png" style=3D"height:12px;width:1=
2px;margin:2px 0px 0px 0px;vertical-align:top;" height=3D"12" width=3D"12"/=
> </td> <td style=3D"padding:0;vertical-align:top;"> <div style=3D"text-ali=
gn:left;margin:0px 0px 0px 10px;line-height:1;"> <p style=3D"margin:0;"><st=
rong>Ethereum</strong></p> <p style=3D"margin:8px 0px;"> =C2=A31,487.95 </p=
> <p style=3D"margin:0;font-size:12px;"> -36.47% </p> </div> </td> </tr> </=
tbody> </table> </a> </td> </tr> <tr> <td style=3D"padding-top:20px;"> <a h=
ref=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e968=
9713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q5FiBXk=
2X_gulZrqjl6aZcqI602SJs1Q3XmXWm0SmkAWHLU4qWdH6gH-kWdb-gSd8x4B0sESXpLqn2fGkD=
4DwSvtE4Cr7Ou0DaqHnfBd_lRH2Y2Zp6usVo3JH9FN9UtVWA7BjTcUnoBGcsxd_qCPWAj5AeRmO=
_Dh14BQpA9V9JnmtzCmDW16oJVVVoA8_l1XoF2hMXWWtBZBrGH7eIu7wklV80CUwvIZMtuX91Yg=
Ztatd3XFCpc_jTSuvH1vEJLvIwGWv9-ZPUA6jZWukNs8WXOUg7iw8T3301nEAkM5pZstCpX8rCD=
TfNhbAGJXOlJCHUsBhPN-9Q2PkeCKQFLS-aA4YHBDdftr2Z2DQye7O4LkuqKLldOeou84RRn_k6=
fi-4d9yfAwJhGTuByplv5rDqid-c5aanv4yUVAxUqRDV07" target=3D"_blank" style=3D"=
text-decoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"pad=
ding:0;vertical-align:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.=
net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371=
967418192255878e9689713/up-arrow.png" style=3D"height:12px;width:12px;margi=
n:2px 0px 0px 0px;vertical-align:top;" height=3D"12" width=3D"12"/> </td> <=
td style=3D"padding:0;vertical-align:top;"> <div style=3D"text-align:left;m=
argin:0px 0px 0px 10px;line-height:1;"> <p style=3D"margin:0;"><strong>Bina=
nce USD</strong></p> <p style=3D"margin:8px 0px;"> =C2=A30.82 </p> <p style=
=3D"margin:0;font-size:12px;"> +2.95% </p> </div> </td> </tr> </tbody> </ta=
ble> </a> </td> <td style=3D"padding-top:20px;"> <a href=3D"https://links.c=
oinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e0=
4201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q5FiBXk2X_gulZrqjl6aZcoO82Msu=
n8MvEAQBpjIRDiVLVX-jCI9aVhS0j9xhqooJWEEXhruvSJTXryWDtskXo5O80G_swonQLrT91gT=
6Vzp6Qa90IzKzRsW05W5UCpeW1te8wLzvbcJWjtswgPZOkO0-aN5_dK7m4E-5pNGJEM4v1c4_L4=
I_mUrhP3oUu0aRKe1e9W07PC3WEshjVfGv9pfW7eFoxB6G635yecezQSU3rBqaM4l9Tww5J2Dqf=
TQ7XVtAzxm9c6X9e40D3UCZOF2NsaxBHWCrjYipqZNJ8LaRyG1KfdjYvWgyEnfYbD2XyZKH1QQP=
Id7VznYH-wLglgfrbl4yQpnSHXXJNbFiRwUuPtZY4k2HE9XW609JWxfL1yM4Ox6OdZ1o1mwJnj9=
Hbk%3D" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <t=
able> <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D=
"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b=
6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" =
style=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-align:top;"=
 height=3D"12" width=3D"12"/> </td> <td style=3D"padding:0;vertical-align:t=
op;"> <div style=3D"text-align:left;margin:0px 0px 0px 10px;line-height:1;"=
> <p style=3D"margin:0;"><strong>Solana</strong></p> <p style=3D"margin:8px=
 0px;"> =C2=A334.20 </p> <p style=3D"margin:0;font-size:12px;"> -54.09% </p=
> </div> </td> </tr> </tbody> </table> </a> </td> </tr> <tr> <td style=3D"p=
adding-top:20px;"> <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca5=
6371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4I=
Sao7xOdRhJgqoj2_q5FiBXk2X_gulZrqjl6aZcpUB5ptPMMlZ_DCE_ENyRms4z-5J3W3yCDHMSm=
dVU1hdZk1Z94-n4u9KF6jhE2-M53vxc2_LHfw6blfjZmhkYe37IMiTKk_gmtBjsvoeum2aM9uJW=
p1onpKKPTfgLzhgnvI9N3s2vw44IIMuFCLjl1Q25BRFfc6Ts1mmSSYV5DoAT1xbCGUvKf6GsWWf=
WJvbQ812Mx7GbU9Mgv2EYMjGe72Mh4zvkFb7WgBJeXDeOPdu2IzfXSe_gp-EUFg4AXHVXp5eBCV=
OaWb0sW40pnYifr4Q9piPAn-mA7LO-XEW_w6lWh4M89plwWSXIdhBaF-yWR-bwhBpNRl8JiLhbm=
b4JgCxb-ElhEaU8VwsBlQWdMJvAbwmdqLEQyOvSyrJhIwc9M%3D" target=3D"_blank" styl=
e=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=
=3D"padding:0;vertical-align:top;"> <img src=3D"https://d15k2d11r6t6rl.clou=
dfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3a=
ca56371967418192255878e9689713/down-arrow.png" style=3D"height:12px;width:1=
2px;margin:2px 0px 0px 0px;vertical-align:top;" height=3D"12" width=3D"12"/=
> </td> <td style=3D"padding:0;vertical-align:top;"> <div style=3D"text-ali=
gn:left;margin:0px 0px 0px 10px;line-height:1;"> <p style=3D"margin:0;"><st=
rong>Cardano</strong></p> <p style=3D"margin:8px 0px;"> =C2=A30.34 </p> <p =
style=3D"margin:0;font-size:12px;"> -50.83% </p> </div> </td> </tr> </tbody=
> </table> </a> </td> <td style=3D"padding-top:20px;"> <a href=3D"https://l=
inks.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe48=
8b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q5FiBXk2X_gulZrqjl6aZcp=
xaXhlOym8TNMIpMuYCcbOU_EmrEH1XpuW-u5iy363Aw6Ngnux4AW85VWBzr4Ui44c1KoltKfSyM=
cxuZOht97hT7_qsrbcIKLEVjYyhT4JxFZXVORU7ZiHqnYif8RFIgLd0HIkykSazWd6wA9heWDW2=
bKVLu-I9_jczZx2wm2vAy0h7TsCpJsB2C-4ZbmXkqjebO8WG8p8zeTXQ52CCMfmLk3JQ2Q2yjaI=
xeEd7m1PIpH2AjRu7ly8VN6Mwm3kIxSVtVi8ivTy5mQdEJie68pjNTMNMizPr4ptQdTXDDUlVzo=
y9G80pg8FB0xHuwJXwnlMy6av5lWWp3q-oGZ7_liPoQ3k1ETDU6bXvQLP_e_RoKW5B4zecQD3ak=
pF40wYOP4%3D" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D=
;"> <table> <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img =
src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5=
713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow=
.png" style=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-align=
:top;" height=3D"12" width=3D"12"/> </td> <td style=3D"padding:0;vertical-a=
lign:top;"> <div style=3D"text-align:left;margin:0px 0px 0px 10px;line-heig=
ht:1;"> <p style=3D"margin:0;"><strong>Dogecoin</strong></p> <p style=3D"ma=
rgin:8px 0px;"> =C2=A30.06 </p> <p style=3D"margin:0;font-size:12px;"> -43.=
84% </p> </div> </td> </tr> </tbody> </table> </a> </td> </tr> </tbody> </t=
able> </div> <!--<![endif]--> <div class=3D"mobile_hide"> <table style=3D"w=
idth:100%;table-layout:fixed;margin:0;"> <tbody> <tr> <td style=3D"padding-=
top:40px;"> <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967=
418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOd=
RhJgqoj2_q5FiBXk2X_gulZrqjl6aZco89eAgWqK1_odXd3_QUrb6NoqK2HH-aW65hxbssGWUCB=
YqNqUZPSeHI6wkT8zuZPnTgAxrrLXPPIqApmWTEc3sxpPQcRlHfgHZ8iQEhoijbRQoWutzg0vFT=
A-d7t2PWdXYgWwAMu34Nt5BZY9o03x-ag66vSyD6Ppnli4McAXChG62nzSHKenPVQlmYZbNf4is=
bRYc41ofuVKBRpV1LVSuw3qGJQyQqs6NoN2Z6sBmtVCFigfbcfaoUA4FnHg7frbkFhHwDSv0uFD=
8iWJKB90azTQnHcFm6Sva6dOIE9eHkXYz-bkepkVIUP6ZWJG2FB9K6oRvYg16rV3hh07zVTT5Nl=
HpFkAke8NBPVqTmwROBSJMtPN98hG-vwejf4aQYm8%3D" target=3D"_blank" style=3D"te=
xt-decoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"paddi=
ng:0;vertical-align:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.ne=
t/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5637196=
7418192255878e9689713/down-arrow.png" style=3D"height:12px;width:12px;margi=
n:2px 0px 0px 0px;vertical-align:top;" height=3D"12" width=3D"12"/> </td> <=
td style=3D"padding:0;vertical-align:top;"> <div style=3D"text-align:left;m=
argin:0px 0px 0px 10px;line-height:1;"> <p style=3D"margin:0;"><strong>Bitc=
oin</strong></p> <p style=3D"margin:8px 0px;"> =C2=A322,046.46 </p> <p styl=
e=3D"margin:0;font-size:12px;"> -30.08% </p> </div> </td> </tr> </tbody> </=
table> </a> </td> <td style=3D"padding-top:40px;"> <a href=3D"https://links=
.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38=
e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q5FiBXk2X_gulZrqjl6aZcpiEt8=
u-nkZTP2QDuJHbK-vBpgiNecW5HVsDdgBr17uTqLU1xOkUz_b8_kSw92axtyala69YYw51ulSAy=
G8cOviygTbL51OdnAWaJh6tFby3vSn_fejSygfF0BMgynABaHLq6z6YGiEWUQDWTl2iCe-pocWT=
vMBYTKJf7xQ3U9sVWn3fgUYv-DEuKcNc_1DFJgok_fLJ-MG35pEtguqMVpQjA34j9WHchBo09lG=
jR7Lxltxda71qrKH0PNRr8tfh5ILVVBQYYQur-E1jwZkYTSbIuHHPX441-5rnWMxTaJmB0D9PO7=
YEOaxCX6s_6gZc_2gj60YMeAREOH_iVOHnmXOk4P9rPSyiXjEdGeF8RTAMZTTOX_Jcz8_dekBpj=
d8jbc%3D" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> =
<table> <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img src=
=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713=
-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.pn=
g" style=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-align:to=
p;" height=3D"12" width=3D"12"/> </td> <td style=3D"padding:0;vertical-alig=
n:top;"> <div style=3D"text-align:left;margin:0px 0px 0px 10px;line-height:=
1;"> <p style=3D"margin:0;"><strong>Ethereum</strong></p> <p style=3D"margi=
n:8px 0px;"> =C2=A31,487.95 </p> <p style=3D"margin:0;font-size:12px;"> -36=
.47% </p> </div> </td> </tr> </tbody> </table> </a> </td> <td style=3D"padd=
ing-top:40px;"> <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca5637=
1967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao=
7xOdRhJgqoj2_q5FiBXk2X_gulZrqjl6aZcqI602SJs1Q3XmXWm0SmkAWHLU4qWdH6gH-kWdb-g=
Sd8x4B0sESXpLqn2fGkD4DwSvtE4Cr7Ou0DaqHnfBd_lRH2Y2Zp6usVo3JH9FN9UtVWA7BjTcUn=
oBGcsxd_qCPWAj5AeRmO_Dh14BQpA9V9JnmgOeTztEiflaBjenpy24QdDwFfN95zS_BWpPwUl-a=
MwvJgU041ho7UMWwT54ArDjZqJAFEJjKlQIq8TjkCjxln0WKgHsYhtGi0kwxRaEaQF7X-8hmYIG=
mCqZu1qCusge2JlwJLcLF3duibJoAs7bn4Td03oEU5GmS5iaxNWDPQciyptBpszUQi2JiN5C8U4=
3LZdigjE7O2KBraY9VPxPgeJ9c66XykmuP4Cv_LtrW_GXeAC_btVijwndlH2LRavYv" target=
=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbody> =
<tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D"https://d15k2=
d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c=
542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" style=3D"height:=
12px;width:12px;margin:2px 0px 0px 0px;vertical-align:top;" height=3D"12" w=
idth=3D"12"/> </td> <td style=3D"padding:0;vertical-align:top;"> <div style=
=3D"text-align:left;margin:0px 0px 0px 10px;line-height:1;"> <p style=3D"ma=
rgin:0;"><strong>Binance USD</strong></p> <p style=3D"margin:8px 0px;"> =C2=
=A30.82 </p> <p style=3D"margin:0;font-size:12px;"> +2.95% </p> </div> </td=
> </tr> </tbody> </table> </a> </td> </tr> <tr> <td style=3D"padding-top:20=
px;"> <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192=
255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqo=
j2_q5FiBXk2X_gulZrqjl6aZcoO82Msun8MvEAQBpjIRDiVLVX-jCI9aVhS0j9xhqooJWEEXhru=
vSJTXryWDtskXo5O80G_swonQLrT91gT6Vzp6Qa90IzKzRsW05W5UCpeW1te8wLzvbcJWjtswgP=
ZOkNhcYjnFjwF3qIaETFf4IXogNmfdjPYJh4AQnOGPQHGOxN6dwf_LRRZeYpl5WNf5SjCCILSIY=
UjO13GjVg5BQZGiD7bXhLNow-F7ka05u14S7LqgUT-LuJhwY5luRkanv2OydUs8g_QuQcPJrD01=
3Azfiog2Xh7rve5wldqWyulzLXtdRzu_VbAvfW5-PBa_s6gHPkJn7E3YN08jFCJcH6WbNZGDJMW=
zvZHrf0fB2u9sLeMWNCTcaLgKlNaOnRAZSQ%3D" target=3D"_blank" style=3D"text-dec=
oration:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;v=
ertical-align:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/publ=
ic/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5637196741819=
2255878e9689713/down-arrow.png" style=3D"height:12px;width:12px;margin:2px =
0px 0px 0px;vertical-align:top;" height=3D"12" width=3D"12"/> </td> <td sty=
le=3D"padding:0;vertical-align:top;"> <div style=3D"text-align:left;margin:=
0px 0px 0px 10px;line-height:1;"> <p style=3D"margin:0;"><strong>Solana</st=
rong></p> <p style=3D"margin:8px 0px;"> =C2=A334.20 </p> <p style=3D"margin=
:0;font-size:12px;"> -54.09% </p> </div> </td> </tr> </tbody> </table> </a>=
 </td> <td style=3D"padding-top:20px;"> <a href=3D"https://links.coinbase.c=
om/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf=
8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q5FiBXk2X_gulZrqjl6aZcpUB5ptPMMlZ_DCE_=
ENyRms4z-5J3W3yCDHMSmdVU1hdZk1Z94-n4u9KF6jhE2-M53vxc2_LHfw6blfjZmhkYe37IMiT=
Kk_gmtBjsvoeum2aM9uJWp1onpKKPTfgLzhgnvwumdQ7Xb-THuWvwvtnTjJlTIAuZTV8Z_LOXeB=
5vqnJcOx_oglurVpjaLcsusnQJj4msRXK9SCSKdqDROebMZ8TdIJF-Tsd97CCaR-RFUglVwmiBq=
rTGPuMsZiOf6xxdJGv-1c_UG_-FuL8Du0Xf2-7suMqtvhUO164k_88pVIbueVCwhWizqLfEHkg0=
GSgc7hffWv9bgpkAeBVhP4Hc5_AzKTPmQMFBQp8hxpLFwoqyEqDfwGo1vRFw1qlRXb_RU%3D" t=
arget=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <table> <tb=
ody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D"https://=
d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-b=
d7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" style=3D"=
height:12px;width:12px;margin:2px 0px 0px 0px;vertical-align:top;" height=
=3D"12" width=3D"12"/> </td> <td style=3D"padding:0;vertical-align:top;"> <=
div style=3D"text-align:left;margin:0px 0px 0px 10px;line-height:1;"> <p st=
yle=3D"margin:0;"><strong>Cardano</strong></p> <p style=3D"margin:8px 0px;"=
> =C2=A30.34 </p> <p style=3D"margin:0;font-size:12px;"> -50.83% </p> </div=
> </td> </tr> </tbody> </table> </a> </td> <td style=3D"padding-top:20px;">=
 <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca5637196741819225587=
8e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q5=
FiBXk2X_gulZrqjl6aZcpxaXhlOym8TNMIpMuYCcbOU_EmrEH1XpuW-u5iy363Aw6Ngnux4AW85=
VWBzr4Ui44c1KoltKfSyMcxuZOht97hT7_qsrbcIKLEVjYyhT4JxFZXVORU7ZiHqnYif8RFIgLd=
0HIkykSazWd6wA9heWDWzfF6l0WIKop-uZ9jTsjZtnzYaFbnffyXF1MQvccx0VVdTFqmhpG63vf=
KhMaDxylxtowaoZiXwAP6tSi139gFObkxuQCnYF1rTBIXZhsMXZxo-oF6_RUhA8foW7S9dy_6Jk=
th7OU2nxvIJqLDSxA2fEgu-IDZEVvkjVRZaIk3PxeFsB4i9L4uI1vzYK4bmJWGrbHkQIqwqpvYO=
OQ5bNQoXK_YKGvVCRaTcKZZOA-XfbE%3D" target=3D"_blank" style=3D"text-decorati=
on:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;vertic=
al-align:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/us=
ers/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca563719674181922558=
78e9689713/down-arrow.png" style=3D"height:12px;width:12px;margin:2px 0px 0=
px 0px;vertical-align:top;" height=3D"12" width=3D"12"/> </td> <td style=3D=
"padding:0;vertical-align:top;"> <div style=3D"text-align:left;margin:0px 0=
px 0px 10px;line-height:1;"> <p style=3D"margin:0;"><strong>Dogecoin</stron=
g></p> <p style=3D"margin:8px 0px;"> =C2=A30.06 </p> <p style=3D"margin:0;f=
ont-size:12px;"> -43.84% </p> </div> </td> </tr> </tbody> </table> </a> </t=
d> </tr> </tbody> </table> </div> <p style=3D"margin: 20px 0px 0px; line-he=
ight: 1.5; word-break: break-word; color: rgb(91, 97, 110); font-size: 12px=
;">Price changes are for the past week, ending on May 12, 2022 at 06:12 AM =
UTC</p> <div class=3D"cta_button" style=3D"margin: 24px 0px 0px; padding: 0=
px; width: 50%;"><!--[if mso]><table width=3D"100%" cellpadding=3D"0" cells=
pacing=3D"0" border=3D"0" style=3D"border-spacing:0;border-collapse:collaps=
e;mso-table-lspace:0pt;mso-table-rspace:0pt;"><tr><td style=3D"padding:0;" =
align=3D"left"> <v:roundrect xmlns:v=3D"urn:schemas-microsoft-com:vml" xmln=
s:w=3D"urn:schemas-microsoft-com:office:word" href=3D"https://links.coinbas=
e.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3=
adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q5FiBXk2X_gulZrqjl6aZcpUnXfuNbUpB-F=
ILufdfL0UuJsx6fCBHCr3N9v3RCOJk9YuEHQ_eXR_CNFd_u4DVebYlYz8nsFTfYy-KcMzu-DB31=
Utni57MOOyngiUlnlkTBLGkiIYBiJmvfSexNWhWLFqvSA57S6Ucjw2l8wcJTa4ceAKY-CWFpCkb=
fLQ8eD4DTHNV3fZHINiXKmtcf6C7aMS5ZDo7FWbmjqKvyuRdWCNKjP2P_sBiBiJGME9xxc8MDcA=
GSgi7yY2e50E1FXgLWw00cbaZ7T1Rpq9UycQt6jcAOxCsEt9xv5RJ4g0OKOTiBxS6aQfS-Slz5k=
FcGdxPB9SCvKUfGSrQZj8mNGdaQlP" style=3D"width:350pt;v-text-anchor:middle;" =
arcsize=3D"17%" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:t=
extbox inset=3D"0,0,0,0"><center style=3D"font-family: Helvetica Neue, Helv=
etica, Arial, sans-serif;"><![endif]--><a href=3D"https://links.coinbase.co=
m/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8=
dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q5FiBXk2X_gulZrqjl6aZcpUnXfuNbUpB-FILuf=
dfL0UuJsx6fCBHCr3N9v3RCOJk9YuEHQ_eXR_CNFd_u4DVebYlYz8nsFTfYy-KcMzu-DB31Utni=
57MOOyngiUlnlkTI5Blbmbyj50acpG-23lZ9PNBwZkdUEfNgdLBXK22Vmp8IZ3gfKQMgBKdU0Va=
iNc9jhCKXhUrZM202GkoQhy8r_KcgSs2Gx8pwHGU6mM5bmw3yce-czgE9_aF6BtUQ48z1_AVf1e=
1UZEf4RE-kCmV0ddrEZFX71Lsi_wgFJ5LgTFPbd299CAAk_1oOXw-mSS3s6XijLN5y5S6We-xyc=
azjC7-fvyjwEzDnQ0MAAbPb67" target=3D"_blank" rel=3D"noopener noreferrer" st=
yle=3D"display: block; margin: 0px; line-height: 1.2; font-size: 16px; text=
-decoration: none; color: rgb(255, 255, 255); background-color: rgb(0, 82, =
255); border-radius: 8px; text-align: center; padding: 18px 0px;"><strong>S=
ee the latest prices</strong></a><!--[if mso]></center></v:textbox></v:roun=
drect></td></tr></table><![endif]--></div> <table width=3D"100%" role=3D"pr=
esentation" valign=3D"top" style=3D"table-layout: fixed; vertical-align: to=
p; border-spacing: 0px; border-collapse: collapse; min-width: 100%; text-si=
ze-adjust: 100%;"> <tbody> <tr style=3D"vertical-align: top;"> <td valign=
=3D"top" style=3D"word-break: break-word; vertical-align: top; min-width: 1=
00%; text-size-adjust: 100%; padding: 48px 0px;"><table border=3D"0" cellpa=
dding=3D"0" cellspacing=3D"0" width=3D"100%" align=3D"center" role=3D"prese=
ntation" valign=3D"top" style=3D"table-layout: fixed; vertical-align: top; =
border-spacing: 0px; border-collapse: collapse; border-top: 2px solid rgb(2=
22, 224, 226); width: 100%;"> <tbody> <tr style=3D"vertical-align: top;"> <=
td valign=3D"top" style=3D"word-break: break-word; vertical-align: top; tex=
t-size-adjust: 100%;"><span></span></td> </tr> </tbody> </table></td> </tr>=
 </tbody> </table> <div> <table style=3D"margin: 0px; padding: 0px;"> <tbod=
y> <tr> <td style=3D"margin: 0px; padding-right: 11px; vertical-align: midd=
le;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integra=
tors/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/=
dot-1.5x.png" width=3D"12" height=3D"12" style=3D"display: block; width: 12=
px; height: 12px;"></td> <td style=3D"margin: 0px; padding: 0px; vertical-a=
lign: middle;"><p style=3D"margin: 0px; font-size: 16px; letter-spacing: 0.=
075em;"><strong> STABLE STAKES </strong></p></td> </tr> </tbody> </table> <=
p style=3D"margin: 5px 0px 0px; font-size: 32px; line-height: 1.26; word-br=
eak: break-word;"><strong>Markets sag to 2022 lows as crypto world is rivet=
ed by a struggling =E2=80=9Calgorithmic stablecoin=E2=80=9D</strong></p> </=
div> <p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-=
word;">For months, markets have been shocked by historic inflation, a globa=
l supply chain tied in knots, the war in Ukraine, and rising interest rates=
 =E2=80=94&nbsp;including, this week, the Federal Reserve=E2=80=99s biggest=
 rate hike in <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563719=
67418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7x=
OdRhJgqoj2_q71aIX_3_cDrmd_5y8YhfGRphdxp1l9uqH-mwzwhhH3vQtjY4AdX3KM8GXApvJr-=
9mezAZBoaB3erPAOk0Fv5RfRQdzcvQAn8QkyzFQLHYJg47q5RwQOj6POoLQUChussbCOBJGw5pZ=
uhKJz6Z0lhxANc348i_q3YspRo4ZZzyMJF9Pou_tMEmvPszJ2kKioQntrrzpBGt5B2RzIRgaR0P=
wLAbe8nYI79UUE4daRsnNnvLCr2_zYFCwO1ZWKZRa7fij808_Yczf3CJdL8oFJazrOeDgqVMt4J=
sU8dmsjn9vEbOhRP1p7_CFfKRVZ6SmSxe1DlwgXALy2OdKQoa5gvY4-d01mt_zABI0ZIxVlCjcx=
132S8FzzEAYOwT2EEVXui1_tZq8ouZPyL3zqHJXggdBV4IVbWVr83kO_bCk1ONggvBZfXHgQCs8=
ifr0MDnN4qQ%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">two decade=
s</a>. In response, crypto and stock prices hit new 2022 lows. But for cryp=
to specifically, the week brought a strange new twist: the struggles of a d=
ollar-pegged stablecoin called TerraUSD (UST), which had recently become th=
e third-largest stablecoin by market cap, with $18 billion in circulation. =
In recent days, UST has slipped below a dollar, falling as low as 62 cents =
by Monday night and leading many to wonder if it will survive. We=E2=80=99r=
e breaking down this (complicated!) saga, so buckle up.</p> <!--[if mso]><u=
l style=3D"line-height:1.6;mso-line-height-alt:26px;"><![endif]--><!--[if !=
mso]><!-- --><ul style=3D"margin: 10px 0px 0px; padding-left: 24px; line-he=
ight: 1.6;"><!--<![endif]--> <li style=3D"margin: 0px; padding: 6px 0px;"><=
strong>Crypto is famously volatile =E2=80=94 but stablecoins are designed t=
o hold their value within fractions of a percent. </strong>Unlike a more tr=
aditional stablecoin like <a href=3D"https://links.coinbase.com/a/click?_t=
=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_=
e=3DRq4ISao7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvxAdkF2odMXdQbxfEskrJkysFBG9qF=
f6zI7mGvtWUuRBoCZlj-FIDSThDhyjOzXwjECP5djxKJPpmZbAvpeY_h0xqIQDPWXSfRnkWl6go=
b7fu3nQC0jPytp7u17NF4ooR6umaLJ888eryOZREZQupMR_Pd91MLNbSx9_5i1vghVHTE4JtRvd=
J92gzUR4PeAlbeorUw2eheo0Bts-_mSRAzJYVZ7rrkhBe5dpzGEr_5VFoAKgfb9vKZTA6vpHa-X=
XGMWq-kJtdeVKfVfN6qf_mFIb0QS-qOqRCrvwQxmlCIRxFFExaoFtx4IMKNg8qA7pjNcVaizBPM=
l1HpBMH-TJXSGDn8nEfj-dNFYHskQAhB0NQ%3D%3D" target=3D"_blank" rel=3D"noopene=
r noreferrer">USDC</a>, which is backed by dollar-denominated assets held i=
n segregated accounts with U.S.-regulated financial institutions, UST is ba=
cked by <i>another</i> cryptocurrency called LUNA (UST holders are supposed=
 to be able swap each UST for a dollar=E2=80=99s worth of LUNA). The supply=
 of UST and LUNA is dynamically controlled by an algorithm that=E2=80=99s d=
esigned to work like a central bank =E2=80=94 with the goal of keeping UST=
=E2=80=99s price steady at one dollar.&nbsp;</li> <li style=3D"margin: 0px;=
 padding: 6px 0px;"><strong>Here=E2=80=99s how it=E2=80=99s supposed to wor=
k: each time a UST is swapped for LUNA, the UST is burned (or removed from =
circulation), and vice versa.</strong> If UST falls below a dollar, holders=
 are incentivized to make a profit by swapping UST for a dollar=E2=80=99s w=
orth of LUNA =E2=80=94&nbsp;and because the UST is burned, supply is reduce=
d until UST=E2=80=99s value reaches a dollar again. Another tool Terra uses=
 to help boost UST is the decentralized lending protocol Anchor, which is b=
uilt on the Terra blockchain, and recently offered interest rates around 20=
% for UST deposits (raising concerns <a href=3D"https://links.coinbase.com/=
u/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8df=
d36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q6UQwbeyeMrHXOnCY4EUL9K4wg-eyVRrzjQAGWg-h=
5i1gEvK6STDMyX6KfgMG92wEz2Fl7xFe_T9hv_Fyhw27zWLMxS6r69lm5aal58tTbTSCSmpF6ij=
E0ZsgR0ruUQ7nZS8UsBJb1AYXIu7AyyY-sA3cwNhHDWK-xE8U8zT32fUY5vhlS_hfOj2Fe1VOKK=
x7RQgpK_eOI148CJM5KF2HkKND_DlNakvBNaJxdGjU5QDjpBAr1cuGQtsMCvzrmYwbuB9KsBKnV=
8Ax5vwbWnPwVxwgoOsSaAc798jVxvdRqB3hzDNOaQMm5gQ35gKhzsF6rpMmeh-_65Uarl5Nrbmk=
QLZKw3tfvjsAOSx-ntrzIvFguoWFuKCnbEaxXoBnZfiTxuzOG28T_ymTgSZKgaxsDP-RTUi9Ma1=
PVXRBTptxJ3wivHBI1hu8VF2-71T8kycPGyK-XsNqSBTkCmCt1PID_rSZEcTMvMFg2N1YIstkQJ=
aRx-avgesIVGvRKLXqRFMFw%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer=
">among some critics</a> that such yields were unsustainable).</li> <li sty=
le=3D"margin: 0px; padding: 6px 0px;"><strong>The exact reason UST became u=
ntethered from the dollar remains unclear,</strong> but on Saturday, hundre=
ds of millions of dollars worth of both UST and LUNA were rapidly sold acro=
ss exchanges, pushing UST to around 98 cents. While UST=E2=80=99s price reb=
ounded within hours, the stablecoin=E2=80=99s troubles were just beginning.=
 As panic set in and more holders tried to exit, some <a href=3D"https://li=
nks.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488=
b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_qx3ARFUWXElwkWjyREi7uj7x=
vq7JEmoJfJIghLiC_P_rkmaG2ErgxLjQGzChx2dNLLfDW6tCyQZ5uWM4vnJB0WLZcSjzt0S2sXi=
u4x1U2uiUB8kBaJBkkK510wlc9wom2KJNoBBl13GDh7EwTZA2m82emFz2RcP7SbWPqN173ojyRm=
4AFq8mNCXXV9cFx9H-4Idcg17G9Sa6dfucLT3nA3W4N8zTxPUgRzaQXNYcMfPtOjwAQLEz-GRZJ=
Pp9DoCv_D4v46TSxIyvvpkevwFaqtY5b5uHVypiNkKGtDQ4A1VS_Og18Gc4zfV__C19MaSRwV78=
xa96v9rLlHC6UCykPeOGH-_TrDjBTgpzJhzCe3jY4rELBcpjvSUb73Rkki0wJgyOukFmO729H7d=
hBy-Ey0jXpkg-yDV6r-PVn-pR6bG2Gi6ksOznx9w_a8GMLBQItg%3D%3D" target=3D"_blank=
" rel=3D"noopener noreferrer">reportedly</a> found that they were unable to=
 redeem their UST for the promised $1 in LUNA. Citing =E2=80=9Chigh volume,=
=E2=80=9D Binance also temporarily halted withdrawals of both UST and LUNA.=
 By Tuesday, LUNA =E2=80=94&nbsp;which had been trading above $115 five wee=
ks ago =E2=80=94 fell below $25.&nbsp;</li> <li style=3D"margin: 0px; paddi=
ng: 6px 0px;"><strong>What impact have Terra=E2=80=99s struggles had on Bit=
coin? </strong>Over the last few months, Do Kwon, the founder of the Terra =
Luna ecosystem, <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637=
1967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao=
7xOdRhJgqoj2_q6UQwbeyeMrHXOnCY4EUL9JKbMjUoE-wweDo6nNje2AtGVKDvYJAdMsjt61rqy=
ye4UKkwBAKuEVfJnW3j6EX5J7QS_cb4w2Udic3VJr6OEVIAO_rPE1F1mOnIUi9Pxm4lpkWYxOnh=
FdBY0lIpR_XJtlfiOOA9xVP483prL7cKkctqaobylZrmj4opQAmOfv0ama4jo0x3cBsUoIuINBV=
8K5KPguW3xSI1AqLsHMU7e6s-ReHnMXJ20SPNCwQ6gqq_C6SOWpkrZsyKbxdaZNE8lr5tCwriRl=
MQV2fZ89HgZNW-ZNM0PFRfw9vDUA4LH4bYIV8jYItndrjnw9VvN_FsbhxAsxIcKK1UrPMLjzJit=
gOoPvvJHviqKTG9yRTSf2CuzWcmInftBGavUGOgmYLIpBVKVwNLzB1eTyE0GtwMdRrsIB1eOC0F=
FUpgO6njMqMpK6BLVwQuZhLOznO8eDptKBPiWKuMSr0mEG-PCpfd_C_smiIB9RwxA1u9lpvetBM=
Mw%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">purchased</a> aroun=
d $3.5 billion worth of BTC via a nonprofit called the Luna Foundation Guar=
d (LFG) to help back the stablecoin =E2=80=94&nbsp;including $1.5 billion a=
dded just last week. As The Wall Street Journal <a href=3D"https://links.co=
inbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04=
201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_qxhYwDju6-7m-m_RMKF2IpUM_rm8Gs=
hLMcmDeUkhFpNBWdVn2dJbMDUIpAnFqZyJGxr-687TKQh2wcdf3TqWoWuIv7VP5FQqNCecJwj-X=
VVXdAwWZjHxbWEaog50Hjmg34m3RZcXr6Yo7TuNceQHKw09S3FA4Ekq4DcL5InTQg7L_jdYA1Dk=
s_gyoBkgG7XsCQzKngLP_NNr8MlGfsHNtVmXksKDBN1FyF5FaXZQWKZEtOn9BNTyCcTLTmPZTyS=
WBnof2l6Z7sHhhEAwOQoPz3lf-vC_vtxlkkQ6m1pciYT0TY4sinHmRfSQisd4MQ3YhichJ19YhV=
nZuIEtfhZoENyRMKouUOdc8MGY3SfjJ1vYYDSeWiww1obxYPP8z7zvCCRA2vrGtYcYJP71izAI2=
bhXi96fEmrMIdUnYZigCt0_JlpDGo180YKAqjRNrThrOB20ZI6K4r7yIKFaxTQiWBU%3D" targ=
et=3D"_blank" rel=3D"noopener noreferrer">reports</a>, analysts believe tha=
t BTC=E2=80=99s 10% dip on Monday was triggered in part by holders selling =
over the weekend out of concern that LFG might begin to divest and flood th=
e market.&nbsp;</li> </ul> <p style=3D"margin: 0px; padding: 0px;"></p> <p =
style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;"><=
strong>Why it matters=E2=80=A6 </strong>The future of the Terra ecosystem r=
emains unclear =E2=80=94&nbsp;<a href=3D"https://links.coinbase.com/a/click=
?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7=
c&_e=3DRq4ISao7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvwb-moirKZDMi3b7sJULDW9M-YZ=
vECxN3ZIn5LpCMcJIcWzrAWk0-S9eV1GXygGgDyP8bEc0rUXvNoydkIaJw04w6QCJWXkvEMwKPN=
oHl-qz8bziOtR8HCW-ibwwaI3pWjcuw6tTbowrxiPJE9bHRQzKYiwKKLh_gzM0uPhUS_IQkbFSw=
OUk63HR2dNI3jpT7DEKa3ahl9HrCbWxkLq4D7KiPPVdoAdhgwk_rkXYD_V10YPJs67dIZw2Xz5m=
-NpNE3rqUNgZDxB0jR4o2Sb_UGt0gA3f_8-NFA3rbwmEc1NeEwCYeuoc9qF9uBDEY6HjyqG12tc=
7eD-KUrx5JtJLX7CamLPZY2mOqioP42FNIHiUA%3D%3D" target=3D"_blank" rel=3D"noop=
ener noreferrer">UST</a> hovered around 90 cents for much of Tuesday before=
 revisiting 70 cents =E2=80=94&nbsp;but its struggles are a good reminder t=
hat there=E2=80=99s no such thing as yield without risk. In a fizzy bull ma=
rket, it can feel like there=E2=80=99s nowhere to go but up, and in a down =
market it's easy to panic and bail on all your positions. Which is why we=
=E2=80=99ve created a guide for managing moments like these, full of useful=
 strategies like <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca563=
71967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISa=
o7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvw7Y43-UHRq7TbJA0QsRy55HZlbGYy31npYcJYQr=
N2jsV9YYiJQygLRuPU0kcMVhMwsa7oMwknozW6XVxHhZHBnATyrsmX-uYhLW0GFYQGrKmmEU1NE=
T1F-xYgiZCirTWUUKy_7c2Z79J-IUKrfNWegZ91yN6N_cf9bJoHKWY7Ba5xmrLVtvy5u6EHEm2g=
v1iZdSi_5fnWht4nxrkY0FFuJb1iXB4yCiUkgXgOWjkZfgoYdnd4NahjuP86iG8YAKc7Rb9_aAA=
R7zXA-WNYRIpVPgmLd-oWIO9kmRTkTt6JSuxTikW27TvzTbfGNeGXdAwuBOyPS46ABcTcb435yN=
kEbmxrs6QTYPBA8pTVYNTfPof1hQOe7hAgfno8kuHuC_q74JCxjiPe4Nv3sVbdtJY-n" target=
=3D"_blank" rel=3D"noopener noreferrer">dollar-cost averaging</a>. So if yo=
u=E2=80=99re feeling a little (or a lot!) jittery, just take a few deep bre=
aths and give it a read:</p> <div class=3D"cta_button" style=3D"margin: 24p=
x 0px 0px; padding: 0px; width: 50%;"><!--[if mso]><table width=3D"100%" ce=
llpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"border-spacing:0;bo=
rder-collapse:collapse;mso-table-lspace:0pt;mso-table-rspace:0pt;"><tr><td =
style=3D"padding:0;" align=3D"left"> <v:roundrect xmlns:v=3D"urn:schemas-mi=
crosoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:office:word" href=3D"=
https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=
=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q3ldl6_OiwuSIm=
tKGjLsCvw7Y43-UHRq7TbJA0QsRy55hZMpG-l0uiuGWDmkFPey_69yuqTy3Dp79e7hHbZiIKIF9=
t653HtJmojEo3yS-Vm2tlkPcT1voKejEJolyAFTUxs2u0Q_MepprIldmhEMEYgV38amwScxzNl4=
QSDzb1ytMhR9-ziDE8A-jFONGv83p-FuECohcwxkO9fbd0Q9yZZ6li4KxSA1wureGLDHOYJL87L=
jW3aZyfpmZuYm1v1jR9zaVHkAMhEnZRj3nHMcsJrJYNN6ABJsboigttqy08mCT-pY53UtzGz4pw=
ZCsX-M2P_bpIKaOL4sr7qinHuVOoqAalaeyX40RrFEp_z-q-LUCLZJKPI5IuuCu4ZetgJWZXpkJ=
fFXtkatIxkO_uXYJxyCY3C8lrrOEq8a_ZdptPQlFwrpHuC5SJyw56BUY1EbuS6SQ1noQkpgEKrj=
3uwvGnJdACVdPUvdxWaUABPjRnIJ" style=3D"width:350pt;v-text-anchor:middle;" a=
rcsize=3D"17%" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:te=
xtbox inset=3D"0,0,0,0"><center style=3D"font-family: Helvetica Neue, Helve=
tica, Arial, sans-serif;"><![endif]--><a href=3D"https://links.coinbase.com=
/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8d=
fd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvw7Y43-UHRq7TbJA0Qs=
Ry55hZMpG-l0uiuGWDmkFPey_69yuqTy3Dp79e7hHbZiIKIF9t653HtJmojEo3yS-Vm2tlkPcT1=
voKejEJolyAFTUxs2u0Q_MepprIldmhEMEYgV38amwScxzNl4QSDzb1ytMhR9-ziDE8A-jFONGv=
83p-FuECohcwxkO9fbd0Q9yZZ6li4KxSA1wureGLDHOYJL87LjW3aZyfpmZuYm1v1jR_VMmZqGE=
tWwfKYNIX1iKgcKLLfbBiWC8lA3j9UGmVJvjBJevWob8JaXpNT-kZO9iQOuYkXSspCZuCtjJld8=
OKVToUXoli_S4li9AId7kvWnV85Xu7mQsvN2jju2KLGlY-Vo5eVNuYhTfpRt7zH8vjaz2nWkInl=
9hl40Y3bV4ld4IexzUYdv-N0hoOVCORhm368uIAgjg8nc7son3_avoXqR5NDwQqCsubhlOZ-y29=
Mj" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"display: block; =
margin: 0px; line-height: 1.2; font-size: 16px; text-decoration: none; colo=
r: rgb(255, 255, 255); background-color: rgb(0, 82, 255); border-radius: 8p=
x; text-align: center; padding: 18px 0px;"><strong>Learn to manage downturn=
s</strong></a><!--[if mso]></center></v:textbox></v:roundrect></td></tr></t=
able><![endif]--></div> <table width=3D"100%" role=3D"presentation" valign=
=3D"top" style=3D"table-layout: fixed; vertical-align: top; border-spacing:=
 0px; border-collapse: collapse; min-width: 100%; text-size-adjust: 100%;">=
 <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"top" style=3D"wo=
rd-break: break-word; vertical-align: top; min-width: 100%; text-size-adjus=
t: 100%; padding: 48px 0px;"><table border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" width=3D"100%" align=3D"center" role=3D"presentation" valign=3D"t=
op" style=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px;=
 border-collapse: collapse; border-top: 2px solid rgb(222, 224, 226); width=
: 100%;"> <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"top" st=
yle=3D"word-break: break-word; vertical-align: top; text-size-adjust: 100%;=
"><span></span></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <=
div> <table style=3D"margin: 0px; padding: 0px;"> <tbody> <tr> <td style=3D=
"margin: 0px; padding-right: 11px; vertical-align: middle;"><img src=3D"htt=
ps://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-4=
6bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width=
=3D"12" height=3D"12" style=3D"display: block; width: 12px; height: 12px;">=
</td> <td style=3D"margin: 0px; padding: 0px; vertical-align: middle;"><p s=
tyle=3D"margin: 0px; font-size: 16px; letter-spacing: 0.075em;"><strong> ST=
ATE OF AFFAIRS </strong></p></td> </tr> </tbody> </table> <p style=3D"margi=
n: 5px 0px 0px; font-size: 32px; line-height: 1.26; word-break: break-word;=
"><strong>States across the U.S. are moving to embrace crypto</strong></p> =
</div> <p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: brea=
k-word;">While crypto regulation is still a gradual, patchwork effort among=
 various acronymed federal agencies and Congress, a growing list of states =
and cities (watch out <a href=3D"https://links.coinbase.com/u/click?_t=3D3a=
ca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DR=
q4ISao7xOdRhJgqoj2_q0-t0z3ftHvRXREVWNQeSui71bwdpJpXjFdJZm0Z3td8H6l19hGGPtMz=
RtaH9XIZ4X_m7UqQ9dMMiiW147R9FWozDu20zqn7vT0V7ozyKR2M77RF-oe76ZK1HiQWpVUdgqI=
i7Dlr-7Jzf-jQpEqd4Gjs2Hn-Xcj-2VByVcF0NIrT0S8_nyLR7YRKUHxkJ0lW9sksntcMy2OXuv=
uNQ9QpQ28CXMXJ3s6vysnUoVySiVK4ZqwrYyIozu7VrJemGcvTpUeYQ-XQ_fsU_p6yIctrN9Jhi=
rILzPML_dZdnSuSlIk6C8JZvkNOdBuJ8qnHmUHVxgoqE0XTQ80pIlt0otOPfWMP-TpjyQFvIiEw=
p4CIVPfPJZ_-7P4Ar4zh6yy7hAJMOYcPAP1aFe6Mp_C1Mf7xhgRJHs44wSf1VpiymaeL2ezIdsL=
mFCnPrKoEfM6fhKuoZSAcO-N31B74jzwX5DnQTSF2f1CutxxIKyswntNW4Ijt" target=3D"_b=
lank" rel=3D"noopener noreferrer">Miami</a>!) are making their own web3 mov=
es =E2=80=94 from mining in Fort Worth, Texas to yield farming in Virginia =
=E2=80=94 with a slew of executive orders, bills, and crypto industry studi=
es. Who=E2=80=99s leading the charge? Let=E2=80=99s take a look.</p> <!--[i=
f mso]><ul style=3D"line-height:1.6;mso-line-height-alt:26px;"><![endif]-->=
<!--[if !mso]><!-- --><ul style=3D"margin: 10px 0px 0px; padding-left: 24px=
; line-height: 1.6;"><!--<![endif]--> <li style=3D"margin: 0px; padding: 6p=
x 0px;"><strong>Last week, California Governor Gavin Newsom </strong><a hre=
f=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e96897=
13&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q1bsLRrCO=
RsocPVhNmO4Yz5-dLlpq2Qg2M9Ftt3d_53XIdGoFQ2VEF6shhJ6FMwSDYi84eO0JgdhLpqgg9b3=
Cg6i3xy3LtV385qLUnGgyWmyTGqzc04DOWWU7-8Mt1mQz46PeOaIZtcGFFBlFCAWLDqfPAbrO1k=
XlXh1GKD6YQAwG5ZUd2eUtGiXVZQgOiADyOF4MZk5WAgnW_lEsuukitNunDWS5Jrxahzev5kToK=
xAT4PhoCPK3POPX3nkRvFq8hm0HYNgJ79P0moOkvfgxcpj-pRSFAEmktv1UV7a_ao6Vzpjdr-IT=
S_7AsosTWkAqlZZRUdERg17kbdAYNT6mFgBNyAhEFoeqjVXnYP0M5q2UoEWQuoZhNIWA0b7WdYw=
BAw_dWT4L6M_eLsY1ueiha1jgXUsR3YSlAFlaFDrEOw1tXF9F4oBCLiWxxNZTkgegRdbFI8MlGw=
ZFZuhPbXNlvSpJ4Is9Mnhue3mS_ZVt1LKJIHRiJPHUzhjMF8WHKvDeaXJOsjlKzo6ulSWG1k_we=
U%3D" target=3D"_blank" rel=3D"noopener noreferrer"><strong>signed an execu=
tive order</strong></a><strong> that aims to spur =E2=80=9Cresponsible inno=
vation=E2=80=9D for web3 companies</strong>,&nbsp;balancing job creation wi=
th regulation. Among the order=E2=80=99s top priorities are creating a =E2=
=80=9Cconsistent business environment=E2=80=9D for crypto tech companies (t=
he industry has long balked at a <a href=3D"https://links.coinbase.com/u/cl=
ick?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f=
5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q7FovZ-XJC6zHBRcVeMTmiAvCE1ITMuiZTiMjud9ZK8PA=
1mm3HIr1MJwU9DrfZ5C1XfzVUyePVaU4SLM5OgrYzbqsKxJG-qGk-Y4yK05barAb9rhX0r4Z50R=
9SU2ZjuPC-9bq-MfnBBvT9LKyIvIsIYxu47hjlWkX_StmmP9_MDQASGeVfWh-tFc_iuikK_6Of1=
whFE-o5pBXkRYreLmjppZlxn79YGijqhDcQEsduHrBodnmBTDdGYbGaFKk_m--suv2p9UDBe51d=
Z34YBB7KAaHXpyG0xrrPyjK5ex05qyQL7mGsYfXuyIRyHMDMqQh3HmPxw37ZWno5UdpxtKkFod3=
hHOsIUQNcq6DqkX-AhuC49DS3ZUJ98homn-tERsXWboYjyvjL3p3R91YgYijUWOM863Su-FjwhD=
_52jF1a98J1QOuJ5N3mVH4n3XE8ZL86fpOafAzxDX-NwEwDP2b_CfdDuFmSamhzNzZw12tUy" t=
arget=3D"_blank" rel=3D"noopener noreferrer">lack of clarity</a>), research=
ing how to incorporate blockchain tech into state operations, and teaching =
residents of California =E2=80=94 the most populous state in the U.S. =E2=
=80=94 how to prepare for jobs in the growing industry.</li> <li style=3D"m=
argin: 0px; padding: 6px 0px;"><strong>Last month, Oklahoma lawmakers advan=
ced a bill to give bitcoin miners tax incentives worth up to $5 million in =
an effort </strong><a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5=
6371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4I=
Sao7xOdRhJgqoj2_q-wItz1tENBLDcO47hg06_N2FTAunR-AZD90ryTcuElMc5oPCm4K9girM-G=
NS0Ob7qJhrPruC0V20oBK-Tr-dQA7Atcy3U1-BjXwpNxXv_vONHDmTVZswtqYmb_Wh3px7gnkdo=
HZms0qjwAdDalBmF9ZqRDBUDiPnlo3Q2PlbXP3ZlAko3Y2h0pthIlNPKxAGVw0XUV5x0-465qTe=
29UameTbczNh6Ht1Iite4ezVABPlikrDYOz_V_GA59D9ghDFHbcCJak1VpIzGfhtoKvJnTUhTZv=
cuV9b-nuqfgFmao7zCi8QkyI3m8UqE9_4rCaVNPFThEdjccaTyDnhybYOlpeTvRg2w-ktzhig13=
_F802_u29bplKsGXZf3li_OIvIpn7lag7w6iG1psH9Cey8yM_B01bQzAOiXDVFgKwmDu4oCDn6m=
c0EoahNMLyULLiP0pW4hzS_oAKzEPlT7HXRTPr1Y_2p7vdv-MFAW3ZH1biC92XokOcaHrOJzqBO=
FZ0Gw%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer"><strong>to attra=
ct</strong></a><strong> mining firms. </strong>Oklahoma=E2=80=99s bill <a h=
ref=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e968=
9713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q-f6_Fk=
6nB0bw-kFa5qE1bBpWnx9O8Za8q8MQvghZWklIO6-LF8oCy_h2vofXMUdcA_3iqLbAhmGcIQCgP=
b1c3c_m4yoeYtHkbyZmCMujAt0ip6T3m04MZTYHCkfzY5AKIg7WzVmggm_YxRS3E1nDFZvaF4Pv=
N1nY6ucZgF_HsdHm6V8k6JCjtXUGDza5R122ZPHHUvK7hkkn6O7CpBygN6fwsc34FLjyFqhzuBa=
2X83JnzEMp9QGx94gTK6qKcn7LSGUBtEr_1eZx9MuxtyIZot_prJhkDsM5OfGWT3iqtR9eG_g0i=
wXM_mj5PaibB1-OqXWTWTgcPRpd4oPY0b5a24h-Bk3P-3ZiuUQHao4WWyBOExBZ6cPWCV_WuG1q=
tlrw%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">would exempt</a> =
commercial mining facilities from taxes on business costs like electricity =
and equipment for the next fifteen years. The bill would also recognize bit=
coin mining as an =E2=80=9Cindustrial process=E2=80=9D that gets the tax ad=
vantages of =E2=80=9Chistorical forms of manufacturing =E2=80=A6 to encoura=
ge the =E2=80=A6 expansion of operations in this state rather than in compe=
ting states." Meanwhile, Illinois and Georgia are weighing similar actions.=
</li> <li style=3D"margin: 0px; padding: 6px 0px;"><strong>Fort Worth, Texa=
s recently became the first city to start mining bitcoin, </strong>after th=
e city council <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371=
967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7=
xOdRhJgqoj2_qxRh0SOARm4xG2kpiK4p4x1HLME1VFDaD4xXTXlMYCRmuzjC6YbMENLsNZ0DtOr=
1FdVxVp6lqU1Jk1W-d6nplECX03BW-i-ymWNiXtlG0kU-oPfWj5TBQ_kEnd33wapA2neuEF1l58=
4n5WxxE9LtCiBWUTT61pWTKA_drQOC62B997xYc-H_Tjp4kVmQCPzjVcLeoz_5XPFAOdtgqvb5R=
bl5i-e2cNaWFT2SiMsmwTtxDljLEke5dTjfIRnaUsFlIP7Kn-5Yd4_7s557zrQo_anXnXseF5pI=
oNO0wSMEw5Berdz5V9WmJmwan9TPF3FghTEqwB7u6koxPHpS_EmGswLsyfUPdCuWy_XNSMCz1mt=
xyp-SeQVeda7KjxAm7ExCS_L-Nx0WM-zPSL7oCC8oD0OAjve5uhkCEFsz_4MxoXPYDx5QdCZSq7=
ZEBRrtsNfPpQ%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">unanimous=
ly approved</a> an experimental program that will use three mines (worth $6=
00 each) donated by the Texas Blockchain Council. The mines, which will run=
 24 hours per day, will add BTC to the city=E2=80=99s balance sheet for the=
 first time and will operate in a climate-controlled room in Fort Worth=E2=
=80=99s City Hall.&nbsp;</li> <li style=3D"margin: 0px; padding: 6px 0px;">=
<strong>However, New York lawmakers are considering a two-year mining morat=
orium, </strong>preventing mining firms that use non-sustainable energy fro=
m renewing operating permits. If the bill passes, New York =E2=80=94 home t=
o nearly <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418=
192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJ=
gqoj2_qxRh0SOARm4xG2kpiK4p4x1440SxMYJbk276G7KK577ieRXVT3FtBXTifP5JO2AubCdUk=
BnxNwU-gXvlfqRvSyAQColqJduhCOSKRym0MLQr7J9QeD-OgO9tKuGXQuYkB8X_QaQo-TVWitzG=
-OdlIyRBvRMSANUzLXQDl8aoXVJU1aE-M5_wx7SmnX_ciCfj8pF_YNENeyoer3juZXkwfVDZnDa=
q2q5p_kiIlv0i3Ih-gbYR7caY3W2EBpnFyYqmiD5WQxfljGYY5b-Mixa9L4LSOMLTYsyibTAkCb=
wt0am9v9TC2MDnhK1jriw5SGZti96Q1VFah3rLKMJ-wuPysktmKa1va-9Mu1Rb1yh-vjdRp8mGL=
YY3-wZSOyL9M3n1hrFAy0IwUIWj7V-u5QlWJ1OVGPblgA683Q8Zuw_LnTipF21esmPxmGojopeE=
yqEpfYZROa57kUL9OJYZ4_pt1vE%3D" target=3D"_blank" rel=3D"noopener noreferre=
r">10%</a> of Bitcoin=E2=80=99s mining capacity in the U.S. =E2=80=94 would=
 be the first state to ban blockchain technology infrastructure. <a href=3D=
"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_=
m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_qxhYwDju6-7m-=
m_RMKF2IpXHDDY6adaMERUziSEObrNPg3dr-U7HfiAs9i1gqOflax7URKWxXmk0eky71SHSmvXV=
HgWjJ41cyP_tGJIKcNjvTif1idpvG_UBww36H5WIKuV6XgegVN4i7ZJXk_iTwjJhu8aKg53hX8C=
kQ2jZjPwixrsHSXbtujJ9QVGH4bb3Mx3cnp3v1bJwEY2iaphxuFQAe74T-Uwj6r6nnUfSNnWq34=
NRtXm13fWrzjsOg3EUNqM39gij_6QrQNoUJplaHXTE8zA0WdypPhKLQsSP9XdIX--wsELUSCBUq=
DjGLgciTdthRsD2uh4TX8EDTOu5XlRRMGPBzLKY0bHEKPb5-4ngXSVGvotRFlO28iDvWlSNj3oB=
wdJUpqb43IS-k1kFykh-MjrzfPnBZ97WmHOohNH3YflSzO1_sBPoSaOskcgpTQ%3D%3D" targe=
t=3D"_blank" rel=3D"noopener noreferrer">Some in the state</a> say limiting=
 energy-intensive <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca56=
371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4IS=
ao7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvwR1zEbb6w67m28J-JzQe50M7njAev19WNH_A6h=
rlhkDZIg4mE7i4r_3x25AlfnaNNqek4PoLDStNmccFZ611q6Tmq0d3jVxR_q8wmAjlDdJ0vYgcV=
OzI4R7qKDCWMvmjMjDWswB-J13_U4HyzfBSLx0H6ISEN5XAHJJQUEjlCx3evO0xI9fogugWWaiN=
a-it3R88nHZydB9EwMO_CaryYXRxCUYSn6L6APlugm2sMNRfMgScNRgHkdgKOIt502NwHA1ZLfs=
0TFJ8WYEOSGSOGT7peik2E6UH2M-mLHDt5jG7KDd6_ytFKJfyPEBWyeDo87YY5mggwI1SrjxR8T=
oJvp2ajMBTib8udKP0YUXoiKul4_Zm56x15G3empYpQuh7o8KzmW4NhBOCuxI342D-o9Q9YvnQx=
-FvMInH4bhLRcu4XVGisvRaO4L8LmGCtFaz9wHgelW-GX6PHONCmpkwDatPAyBaTXRovJlfkeZk=
AU6UM_o_j_LCVNZgf5s9f459lx05aMkGX-Yf8E_OSLRRPbdj1L2V5ChGgp-VR-GNeK6_74c5aon=
7maJzStqgPexHX9JHu142TUFfvkCfpVs_3a" target=3D"_blank" rel=3D"noopener nore=
ferrer">proof-of-work</a> mining would help reach climate goals, while othe=
rs (including Coinbase) point to the <a href=3D"https://links.coinbase.com/=
u/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8df=
d36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_qxN4x31coVvyjfpcZQ95WAyIQcSgBsd1vYchoghxN=
TEpwOl6S0Vy2dp-crIr5hojIeOmu4D2D7N_5Qrp7OMxmYJ01xWNPhhKwiV1xDr0wThCRAm4x-MA=
4w4C09drgvT_AOGAxQiE4_zv3GcCxYRQcq3hUEP-5CCGH78enqiDgtndhtyq8hNn0Ra6snN1QbF=
hhriJP2LuXenWceMgawm6MVa0es2cG2KFn2cqMVKKyZN3LLRGUwh3gy0tWKgtl7vtE7ATld4opO=
ZMllRIxSqABEXEF-tNT8jrlsHeRe3oL41_6vVSy7FuKuGliOLb8Y3z62QMzQmHgmRCuSaE079xn=
OEdLFgm5TJ8FoPH70Z-UA6oQRFAIapexzqrcfZ2_2-BSA%3D%3D" target=3D"_blank" rel=
=3D"noopener noreferrer">thousands of jobs</a> that would be lost if the bi=
ll passes. (Read our <a href=3D"https://links.coinbase.com/u/click?_t=3D3ac=
a56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq=
4ISao7xOdRhJgqoj2_q75mXSmO_IzgKJZUpVBr74N2RJC_sRuFXM3wdoELVKa5v408S1dg6HaO7=
e2jhQvG6__4u0_kM8ZXexBHeaEGs49IZAkK826KIsI4Rgjm1j_LJQv8kKXZCc7D51Emah1xU3OI=
qDSgW16M_UFLuh8iC6Ww-sINCd8f-ATqzlIS8oHtpuKPUpehCp94UH-GXxykoaj-ImvZoVsolF1=
2GNhfmQn8oEzw2V1FqNKavb51FXFs4Rue2YRSx2w2U6AuuwRzFLMSbl0lL00_AOGMkNFilX_yT9=
vskdKT9_Q-eBpU52zZ3r5r6rH2wYshsBf9uH66T66KRRL9EMnwzXyVKVBovbbke4YurABMoLtgh=
FqWItxewa6ShKA3bKEBEWamaSyEyBCK3m3zVjV-IqoOgKD73Jb9GgdhOgHGrt6QgySrjXWs52TP=
x6pgxttpvXriou1XK3-4gYA3-uCX0hrCl6697EI%3D" target=3D"_blank" rel=3D"noopen=
er noreferrer">article</a> on mining and the environment.)</li> </ul> <p st=
yle=3D"margin: 0px; padding: 0px;"></p> <p style=3D"margin: 16px 0px 0px; l=
ine-height: 1.6; word-break: break-word;"><strong>Why it matters=E2=80=A6 <=
/strong>Financial firms and money managers aren=E2=80=99t the only institut=
ional forces driving crypto adoption. State and local governments are incre=
asingly preparing to embrace crypto-related business opportunities in minin=
g, blockchain tech, and even DeFi. And some are even giving it a whirl them=
selves. Virginia=E2=80=99s Fairfax County, which has already allocated port=
ions of its pension funds to crypto investments, is looking into the DeFi =
=E2=80=9Cdegen=E2=80=9D strategy known as <a href=3D"https://links.coinbase=
.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3a=
df8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_qwcNgkUv0nspG3qCmJE-WaWU-XuZQVC4bsHm=
GN-WfplVn_DidWi0z5oWhYmz5DeJeQziSY3GmldnV0ZPr1e6VsEbwKOw5nhwIitUMU5HNzPxELd=
IBFTNutVb7_VonkEjy84yfhuA_hhGdVRjOiyvD2Z3p9SOYNNPpiCPBWXI1sz95O5eMn4uZlyQyR=
pbosqxZijFwkEc9JIbyVDoD0Iypr92pE50ReuF5eyiPLjTb1YhSRSnHIaiX7upsNTfx7SYqzEHV=
qZ-i8dAgIhNo095voXjq6Cp_a1B6usByyj4DdVcVzrI3go9ynbSY3NyaMmWMPEO7i0uk23LIZbO=
FhN43v4oRHC5Zsmw_1Qb-J-lU9Rugc8EVRB61NhOHrzYghspOsq8bFs19CoxLZpBLJS1CGtMW9X=
ApoIa3eK3MA4-oDtMgrLhubAK0wVzf4Jb6Hevz_HeVq4CAY72hmDrOXj7CIEF2G4H0o041fZz1-=
CVW844IKnX5ZdQ0vMm1htNji14aZhqOrCM7OijgcBuKTg_kpw%3D" target=3D"_blank" rel=
=3D"noopener noreferrer">yield farming</a>. As&nbsp; Katherine Molnar =E2=
=80=94 the chief investment officer of the Fairfax County Police Officers R=
etirement System =E2=80=94 <a href=3D"https://links.coinbase.com/u/click?_t=
=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_=
e=3DRq4ISao7xOdRhJgqoj2_q6UQwbeyeMrHXOnCY4EUL9K4wg-eyVRrzjQAGWg-h5i1sfXVLbC=
3IXMFC_ipz6xFsI9tvEfMZnFiOzpWndKdxuMD3D3E64z1Heu2cuMLZrc1NHm5EMPHUGpnIcBzQi=
P0hYqNo6ic8BOPrwneZ47ryCXPiR6KpcCBx_DoHLIhEq-pdM_vDJfxnk5HkZcDs-Uk2et4tLyfB=
OwslNoqvOWQA9nBlkeBp8sqR3DBwjGqCUu-j6JbArYIBO0YFCNJF7_Hnj_Y7P2yOvr1zh3n6kfL=
dpMh8KWzuc6XYmti8E5AgS_ChPMRNr4JTpwFtJ5vnJP-a70KGhRmq09v-88lqd2GuZYKW6E-oy2=
wgyHhflB4i4bhSFiLOjzuXPHlgb-68J7z6RNBwJTl5PcyBU5ZTxUQKnJHp_Du2xOtRf5dK8NsNC=
iBb_ObZRu3vcnNgqclnlQ2xRHvV_8r6-6Ie-4NPHzPYgW-VfwfrJHeD4WlcI3X1JJ12cKawP99y=
4p6sHif7Qv3Cg%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">puts it<=
/a>: =E2=80=9CWe view this as a growth investment.=E2=80=9D</p> <div class=
=3D"cta_button" style=3D"margin: 24px 0px 0px; padding: 0px; width: 50%;"><=
!--[if mso]><table width=3D"100%" cellpadding=3D"0" cellspacing=3D"0" borde=
r=3D"0" style=3D"border-spacing:0;border-collapse:collapse;mso-table-lspace=
:0pt;mso-table-rspace:0pt;"><tr><td style=3D"padding:0;" align=3D"left"> <v=
:roundrect xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas=
-microsoft-com:office:word" href=3D"https://links.coinbase.com/a/click?_t=
=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_=
e=3DRq4ISao7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvzMu1co2d8gF4wwSRJ-pOoxTS8Iz_a=
JTaHk_ktqeIFmQxXiBFsqOF-qM8k6QfUmTVXmU4fAnpxJLZJkWdlLMxkCZC62RtdEO0_zpSXDTl=
hjnrT_ZcfZWq9DCu3xNNB69lVz0XZ4xl3DKpk-lx5wfHGmhqkL-xn6E02Obm9nlYh3TK5oayLm2=
be6IZNrNZ76SwfaCU5XcuxL1O6f36vj_ghfwD_qhS4RzLtYBfs-U5y1xWh3D1jgNDKoduz6i5U1=
saILfBQUddNSrtfh1cRmtAg42ep47sLpCFvo2T4doSdGsPc-EO307w1Qi4rHSorQLTsNxmrxvE9=
7YhKxuO4Q1G41UU8ks7fHC7SBarJ-A5bVV5USaQFG8zSQ-ftRXEXNKOqu0-6h_45LvKiYjmeSvW=
ze1ognX3dcVbtUwOVzxEgf4g%3D%3D" style=3D"width:350pt;v-text-anchor:middle;"=
 arcsize=3D"17%" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:=
textbox inset=3D"0,0,0,0"><center style=3D"font-family: Helvetica Neue, Hel=
vetica, Arial, sans-serif;"><![endif]--><a href=3D"https://links.coinbase.c=
om/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf=
8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvzMu1co2d8gF4wwSR=
J-pOoxTS8Iz_aJTaHk_ktqeIFmQxXiBFsqOF-qM8k6QfUmTVXmU4fAnpxJLZJkWdlLMxkCZC62R=
tdEO0_zpSXDTlhjnrT_ZcfZWq9DCu3xNNB69lVz0XZ4xl3DKpk-lx5wfHGmhqkL-xn6E02Obm9n=
lYh3TK5oayLm2be6IZNrNZ76SweTfPft0E5DrQluCaZYnQx-yBJVXIuERdbD2WTRN0ky2CsXzCS=
EGtePypnq6QbvR7ZblywYjfjEAvxir-zklJpC0Zvjxd5ET94qgcKH_EuA5wmP-gPYrJLo6nN1kD=
y-b5WaUMyo0cHE35aL3prjw-hM-ghN671SCEf2WicadmWNnajxxhkb_2oMJWPXzzIYlzY7LKaLG=
4zLIAdbtJQ-Z1EfWxFwaSvlqHUgzcyT41RvvA%3D%3D" target=3D"_blank" rel=3D"noope=
ner noreferrer" style=3D"display: block; margin: 0px; line-height: 1.2; fon=
t-size: 16px; text-decoration: none; color: rgb(255, 255, 255); background-=
color: rgb(0, 82, 255); border-radius: 8px; text-align: center; padding: 18=
px 0px;"><strong>Learn about DeFi yield</strong></a><!--[if mso]></center><=
/v:textbox></v:roundrect></td></tr></table><![endif]--></div> <a href=3D"ht=
tps://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=
=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q3ldl6_OiwuSIm=
tKGjLsCvwmM3TuHo3rRF9Uq1hZ3Ol7iFELl8R09NZrn_sdyGQs98rj3rREDhZl6wJk2a0ztDFbJ=
rJwlMagxdrnLj-iMIXC1-GEd2sOV4HjlbRkR0_V3HZlFwoYKLNrFIWC9TunUxWCSEipwbf9xhpe=
LlWsLXOnwWwvmoTLyP3te4XD4DQMHX-399H92v3ppPN-sBOwri-CH_-Pr-bOcUNgEL_CamBViip=
bkvpW6KAmEEYZtPdjXigW0jChpc1qqRmgky_7pFzbk_K02Xi5SG8nD-5qM0WdZKLhbsiO-YnjEi=
B05vSVM0fZojs3eDqoLFHyqeMV6bjd_RqD3rgtF53Dk-_bynaJKzKuvbDTb5KZ0qzq3k8HAwLj-=
4-44FImf46o-APje9I%3D" target=3D"_blank" rel=3D"noopener noreferrer"><!--[i=
f !mso]><!-- --><div class=3D"desktop_hide" style=3D"display: none; max-hei=
ght: 0px; overflow: hidden;"><img src=3D"https://images.ctfassets.net/q5ulk=
4bp65r7/7mlKQeAllyMjMYlTQzfzR7/bad1ff961d9d12ed809ae019db575dc8/promo-mobil=
e-referral__1_.png" width=3D"100%" style=3D"display: block; width: 100%; ma=
rgin: 64px 0px;"></div><!--<![endif]--> <div class=3D"mobile_hide"><img src=
=3D"https://images.ctfassets.net/q5ulk4bp65r7/7Lujvt3AceTqWD0VnCjFAJ/23b9a9=
26cac26787c887eb027fb59d95/promo-desktop-referral__1_.png" width=3D"100%" s=
tyle=3D"display: block; width: 100%; margin: 64px 0px;"></div> </a> <div st=
yle=3D"margin-bottom: 16px;"> <table style=3D"margin: 0px; padding: 0px;"> =
<tbody> <tr> <td style=3D"margin: 0px; padding-right: 11px; vertical-align:=
 middle;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/In=
tegrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e968=
9713/dot-1.5x.png" width=3D"12" height=3D"12" style=3D"display: block; widt=
h: 12px; height: 12px;"></td> <td style=3D"margin: 0px; padding: 0px; verti=
cal-align: middle;"><p style=3D"margin: 0px; font-size: 16px; letter-spacin=
g: 0.075em;"><strong> NUMBERS TO KNOW </strong></p></td> </tr> </tbody> </t=
able> </div> <p style=3D"margin: 16px 0px 0px; font-size: 32px;"><strong>45=
5 million</strong></p> <p style=3D"margin: 4px 0px 0px; line-height: 1.6; w=
ord-break: break-word;">Total number of WordPress-powered websites =E2=80=
=94 all of which can now theoretically enable Dogecoin payments thanks to a=
 new plugin called <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5=
6371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4I=
Sao7xOdRhJgqoj2_q4ON0fUNOJnE5nszOfCQf5lJKM1aixHms4TO4n9ychKjK_u28OvqG_NJRvh=
TowpJQ5JcaAhOhwDtxsd5p1sB80sm6qhpnyFW0CJW0p8SCQuOn9Dn001T7YR5cPHrgxaVuKzA2J=
7LEHDVDw4zfYu671Brk70pXnKk8lKPOyvUMUI8YQb1J9FVJq7tMJ7aycYTx8IIlIJJ3Yhr42heW=
iqy2oFckerSbqSYfYOXf5KXkmS1bP2w6Ill1DIGtSqBIHIWF6gQAI2KTj1hlww-8JUn-lBl353E=
SXZ2HdaIVGZ2CQnSgAfQVmyB1DBugvSkYvfI4RRLwO43naCranU7vZztQSHYjlP4sUgi6jQ0F2c=
fpoVL9Ah26c2_CoMLtl_vKM3a4DXsqCJ18AdFv83_0fii0U0%3D" target=3D"_blank" rel=
=3D"noopener noreferrer">Easy Dogecoin Gateway</a>.</p> <p style=3D"margin:=
 16px 0px 0px; font-size: 32px;"><strong>$265,500</strong></p> <p style=3D"=
margin: 4px 0px 0px; line-height: 1.6; word-break: break-word;">Amount (90.=
5 ETH) that Bored Ape parent company Yuga Labs <a href=3D"https://links.coi=
nbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e042=
01a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q2TwVX1oJDONMboWZIV3O-rhWYDpAeT=
8YeMFDmswTGLc-r3wEMsxRmZL8Je1iV3vF5hMrL3SHJkCdsUzHehPJuy1UXTThwL7zxzm1ZNmD7=
xGdCUHDYg8aRBlafGughS7ObEVeiOwAh20_mRQbB0evJ-4OFxcWWdEQ1AaC0F1yrke4JqPuwAdB=
pV-A3AYec90mOfsgbs3LCs9bR3XaZPUPASKwUxgESTSFG9I3jpf-JySjsysZXbv5a1DivbjAD_a=
FX1noXl37njxcJpXFr8HVjDP1ZS2s-gcN-oBhmJWAb313YrsSCd7KkAu8M4h8QtRBUwXKv6E6a7=
9DVw9CTJ7MzTyLUaUwIR9o8LkSG23KXATD40xi8Fnv58Hk23P8IXW7oQT7KonQbaSYnOpVBom4f=
Fct5hPuc2xQx_XmRMOFsAzAAAFIjq_gyj0KvJseNsvpsY6tAEQNkfMGZ1hHzSSxgU%3D" targe=
t=3D"_blank" rel=3D"noopener noreferrer">reimbursed</a> NFT bidders after t=
hey paid high network fees for failed transactions during a frenzied biddin=
g war for virtual real estate in a forthcoming metaverse game called <a hre=
f=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e96897=
13&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q3ldl6_Oi=
wuSImtKGjLsCvx4MHsZOvXh4azcGu43UqH-Crn6ABEUrRCyFutMy_SCA6R-8c6yLL4N26EFwXmR=
NnYXiunSDt2t0O3y0lKfjYlelZv4efu4JMS7wM-wYSMOk9R1xM_FCuFd91bda8NRfcyMpyUltbc=
3NqR0gyWjWlE7AxQSNfIoMdH7dBv7x0w_XJkur_cCB-R7ElyT-jJSeDiM6xPGUHDJ0vq1DfaiYC=
tFBCrdH0gqVn-ubfLPW9ptAmW9z3PCe6TWz6jdORL3kmCtcP_Mjuyi_lhAl2Vp-geMkPRh9DXfM=
IszMoShJf9cgM7gkNHoicVjjm_IHiRz8HN0E5l8w1T893XVsqK9P7Ld7RmWo2y0ixtQLpdnNIKJ=
eTehGlg3hftk4oL2E8_bxLNJ7HjGpxZy40V5S7z5I0-B8q56bBK0rTyH4pMPG2y_elIzVLSeoHq=
kjI1_ijArAlMJOIhcWh8XR4hwHZ3YkYPFjv6G2U8EznVZxvzyc-ALZPbB1zi7xbCFE8TdZ3zAZV=
dBzroijsRzBpZtKPPiUxiK82NZhKqWvi6dF22_JaJAcA%3D%3D" target=3D"_blank" rel=
=3D"noopener noreferrer">Otherside</a>.</p> <p style=3D"margin: 16px 0px 0p=
x; font-size: 32px;"><strong>244</strong></p> <p style=3D"margin: 4px 0px 0=
px; line-height: 1.6; word-break: break-word;">Number of VC funding <a href=
=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e968971=
3&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q-wItz1tEN=
BLDcO47hg06_NoVybdj5qfBuAc0qg636EdHhRVVwa-S7HDYu0zPaDBjxY73E8fFFoIszmps49Ab=
ABAsp7FX3ZCJLhn8Ic245VYi-PiJtT5tKSRsT07bPW-06oxe-3iENa84SUrQlQ47qdnUcdrbEpE=
_VU433djwNqskEy2FOXb30cfl-pSlDlOnBj1ZmKewLcJn_W8F4D9ATw-agXGI2bdVv2gBeeEkxE=
JbKE19x5st_EFYbjoYSHLznUix9b6JWJZh9JBUdXdUinVnXGFUorRi4J5Ke8nT_p3WL0-eZxqjm=
_fcVk4t7iPtLEZoCzQ_KU2FwLa5cLOEqSWAoZIPtz-YLwhyqtOXWIyM1Dyv9MQTMqu0herJCLCc=
Bt15U0nk8RJx_7pI8S9vK6emo_UFSKkC_5lQLLuSrK-doYmzcwBC2AvmcDyP7u47w%3D%3D" ta=
rget=3D"_blank" rel=3D"noopener noreferrer">deals</a> for crypto companies =
in April, an all-time high. The $4 billion monthly total included a $400 mi=
llion raise by USDC issuer Circle and a $150 million dollar raise by Sky Ma=
vis, the firm behind <a href=3D"https://links.coinbase.com/a/click?_t=3D3ac=
a56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq=
4ISao7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvwR1zEbb6w67m28J-JzQe50_C84zdY8nt3gN=
G9Jd9_TPeScXWsK_2VxqDQIrB6yJnf2NeYuNV6FAJ1sXhrvanAPt5a5nWjtlHLi_kmkVxArEuSY=
HdHoTsAntakPVrSO5xyKmT5KkVh12HmASF7h7ZS9Uqmz3uZ1kgJF7EtCoCRgPc3XHahNpa4E_iy=
BktUygEc28euJTlSQiPUvVRKQ16L0B12quYOjoILug3TKPgJbWwJWjx3DX6-tyYeNsB_P0EE8sA=
zdNmsYemq7LjSxAXESBgmX54SBa-xQfEwaStkWSzu-SHX7CFOVFcXgxMXLjkiXyQHuhOFvDJqWT=
CHUsAWk2KVdiLmmr4XOiZIbszPlXy-3oWp-TZUBU3qXErb7UfRpf0QKbb_9WHwpyN6RtL4P" ta=
rget=3D"_blank" rel=3D"noopener noreferrer">Axie Infinity</a>.</p> <table w=
idth=3D"100%" role=3D"presentation" valign=3D"top" style=3D"table-layout: f=
ixed; vertical-align: top; border-spacing: 0px; border-collapse: collapse; =
min-width: 100%; text-size-adjust: 100%;"> <tbody> <tr style=3D"vertical-al=
ign: top;"> <td valign=3D"top" style=3D"word-break: break-word; vertical-al=
ign: top; min-width: 100%; text-size-adjust: 100%; padding: 48px 0px;"><tab=
le border=3D"0" cellpadding=3D"0" cellspacing=3D"0" width=3D"100%" align=3D=
"center" role=3D"presentation" valign=3D"top" style=3D"table-layout: fixed;=
 vertical-align: top; border-spacing: 0px; border-collapse: collapse; borde=
r-top: 2px solid rgb(222, 224, 226); width: 100%;"> <tbody> <tr style=3D"ve=
rtical-align: top;"> <td valign=3D"top" style=3D"word-break: break-word; ve=
rtical-align: top; text-size-adjust: 100%;"><span></span></td> </tr> </tbod=
y> </table></td> </tr> </tbody> </table> <div> <table style=3D"margin: 0px;=
 padding: 0px;"> <tbody> <tr> <td style=3D"margin: 0px; padding-right: 11px=
; vertical-align: middle;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.ne=
t/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5637196=
7418192255878e9689713/dot-1.5x.png" width=3D"12" height=3D"12" style=3D"dis=
play: block; width: 12px; height: 12px;"></td> <td style=3D"margin: 0px; pa=
dding: 0px; vertical-align: middle;"><p style=3D"margin: 0px; font-size: 16=
px; letter-spacing: 0.075em;"><strong> TUNE IN </strong></p></td> </tr> </t=
body> </table> <p style=3D"margin: 5px 0px 0px; font-size: 32px; line-heigh=
t: 1.26; word-break: break-word;"><strong>How Vietnam became a global hub f=
or crypto gaming</strong></p> </div> <p style=3D"margin: 16px 0px 0px; line=
-height: 1.6; word-break: break-word;">Even though Axie Infinity exists in =
its own corner of the metaverse, the pioneering <a href=3D"https://links.co=
inbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04=
201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvzb28mlkr=
OiQSzKrePJpi5XeidfouE5_4Nm6pyq7LJ4fmZi1rPHPPvjKzk_ERe5vHkpLHANbMGZ6oq0Owtqs=
INNzD9UsgZzqMQmpsTXzeo1BWPj4ypzT_RcaUrPdTeyW3AbuvKnwo92WQ6-xQjVjvc6XlS9LnRf=
ZygLjo-YY6fMBeQPhO8qm_l1KWj9DJ-C4LuxuDY2RSfCrh_C1c7RkacT_Xz-3ZOgRAFf0TiJGAK=
d_aIESFMyNhvgcCAU6cuXZmBAURCVSYMrOl9ILldgwj2EZQlq9sQQz7NEG45A5bnVq4J6U_TD83=
R9HFjvG0NgE83jl6_i43QDMBhHy5G2-Ate71frLsR3qGct0Un5gvV1MA5vsEK3kDDgSY4c0Q4MG=
zfxTq3AVDqVc4wzVbol8piO" target=3D"_blank" rel=3D"noopener noreferrer">play=
-to-earn</a> crypto game was developed by a company based in Vietnam. Why i=
s the country such a hotspot for crypto adoption and blockchain gaming? On =
the latest episode of <a href=3D"https://links.coinbase.com/a/click?_t=3D3a=
ca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DR=
q4ISao7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvyRaD3IaBwpRCDUNIxeHNj64NV-TO-icqqA=
AG2hZlXPH7lG3Hoqv6Xt5bhrtBgnVhJkxMLvRSGXiWE2nkqh2NktijpJeBQjux2PijV1TUqhjeS=
F_VOZgNauBTyjkwO8xrb2YLo1WZo20UwJOR8E_Ixx5xI-XP9tfb6iiRyy9uLDyNq4Grn0A-URXD=
L2-IWDJyaOWsRxA1NSUvvFb57r_hkQ4ITNzwicAVjxbtDJfk4CgLbC_4BDVsJJMh7DeH9Ro7F1d=
tq8t4Ne6oB3enMXQ8Jmw9LOeQkHT1Mf5FBEcIPNjGtaSygQHnd7qwRcKgyJDiIZf9SDFCOvzpP4=
7_YKm_Ybt67WDpA8Tuhod8O42Fejzg%3D%3D" target=3D"_blank" rel=3D"noopener nor=
eferrer">Around the Block</a>, host Justin Mart sits down with Howard Xu, f=
ounder of Ancient8 =E2=80=94 Vietnam=E2=80=99s largest blockchain gaming gu=
ild =E2=80=94 to talk about the future of =E2=80=9CGameFi=E2=80=9D and why =
Vietnam is uniquely qualified to lead the next phase of crypto gaming.</p> =
<div class=3D"cta_button" style=3D"margin: 24px 0px 0px; padding: 0px; widt=
h: 50%;"><!--[if mso]><table width=3D"100%" cellpadding=3D"0" cellspacing=
=3D"0" border=3D"0" style=3D"border-spacing:0;border-collapse:collapse;mso-=
table-lspace:0pt;mso-table-rspace:0pt;"><tr><td style=3D"padding:0;" align=
=3D"left"> <v:roundrect xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:w=
=3D"urn:schemas-microsoft-com:office:word" href=3D"https://links.coinbase.c=
om/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf=
8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q1M64Y_5SShwS8qbZDNT53_tUzqUSiGbT4Z92S=
yjX17N41y7Z1xIjGaI7d9X8vcyitB7ioFlc7E7JPeTPJsWPMDcCqUYS0xvzsT3m2nap-u49mKWW=
RLeqtattfq4bm1rT48x4k7MwVGmNHmkq723OpAO5BI4bHWiKQsFhkTb1MWCIt0UDmWFhFVAnd2O=
kHfaOjJSbCLYDNwtOW5anNb_wKRQZlbNhqw-CQWRDXsS_WDsF03D8NqaHuGZ5GzcLH1EQS0dAGi=
MOEGYmpl2vz2nUiFv-K5StkmVJ7w9jknl1FWthQFrit6YQPQkgwN9YrJ1mGvXXF0fwJmSlQj2Cc=
LTtx6iKpLi77tWkWUID877dVCJ6japCjoOLXGbUJiSNy3BDBnUpgOo8kUDBUauKcN8vkjq3DvrX=
1eeeiypKKAh6kFz" style=3D"width:350pt;v-text-anchor:middle;" arcsize=3D"17%=
" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:textbox inset=
=3D"0,0,0,0"><center style=3D"font-family: Helvetica Neue, Helvetica, Arial=
, sans-serif;"><![endif]--><a href=3D"https://links.coinbase.com/u/click?_t=
=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_=
e=3DRq4ISao7xOdRhJgqoj2_q1M64Y_5SShwS8qbZDNT53_tUzqUSiGbT4Z92SyjX17N41y7Z1x=
IjGaI7d9X8vcyitB7ioFlc7E7JPeTPJsWPMDcCqUYS0xvzsT3m2nap-u49mKWWRLeqtattfq4bm=
1rT48x4k7MwVGmNHmkq723OpAO5BI4bHWiKQsFhkTb1MWCkkMa0iaj590Xazyld4kuqofRLEsCP=
p1Ec0nj01gemhgIs7dVVSkucrAUAlB3j_oGOxaIsoHiLYutdJpuB2dMLM3pYuRs6A0VcS6b9U00=
fiiR_u3nN2AvFPvug8CpnAX7FIsayKQEgbS8_1pr_glXnbqJRIJON7vkU-stCTbXu7kpGMUKuVi=
eo2dDACBnns5bbxCbcMlf9H8ithPmMtpkEkrsjsPOFKbu-yJrIu_awO5Qm76_9gUjROvV9MKJqx=
yd" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"display: block; =
margin: 0px; line-height: 1.2; font-size: 16px; text-decoration: none; colo=
r: rgb(255, 255, 255); background-color: rgb(0, 82, 255); border-radius: 8p=
x; text-align: center; padding: 18px 0px;"><strong>Listen to Around The Blo=
ck</strong></a><!--[if mso]></center></v:textbox></v:roundrect></td></tr></=
table><![endif]--></div> <table width=3D"100%" role=3D"presentation" valign=
=3D"top" style=3D"table-layout: fixed; vertical-align: top; border-spacing:=
 0px; border-collapse: collapse; min-width: 100%; text-size-adjust: 100%;">=
 <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"top" style=3D"wo=
rd-break: break-word; vertical-align: top; min-width: 100%; text-size-adjus=
t: 100%; padding: 48px 0px;"><table border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" width=3D"100%" align=3D"center" role=3D"presentation" valign=3D"t=
op" style=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px;=
 border-collapse: collapse; border-top: 2px solid rgb(222, 224, 226); width=
: 100%;"> <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"top" st=
yle=3D"word-break: break-word; vertical-align: top; text-size-adjust: 100%;=
"><span></span></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <=
div> <table style=3D"margin: 0px; padding: 0px;"> <tbody> <tr> <td style=3D=
"margin: 0px; padding-right: 11px; vertical-align: middle;"><img src=3D"htt=
ps://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-4=
6bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width=
=3D"12" height=3D"12" style=3D"display: block; width: 12px; height: 12px;">=
</td> <td style=3D"margin: 0px; padding: 0px; vertical-align: middle;"><p s=
tyle=3D"margin: 0px; font-size: 16px; letter-spacing: 0.075em;"><strong> TO=
KEN TRIVIA </strong></p></td> </tr> </tbody> </table> <p style=3D"margin: 5=
px 0px 0px; font-size: 32px; line-height: 1.26; word-break: break-word;"><s=
trong>Which of the following is not a stablecoin?</strong></p> </div> <div =
style=3D"margin-top: 16px;"> <table style=3D"line-height: 1.6; word-break: =
break-word;"> <tbody> <tr> <td style=3D"padding-right: 12px;"><strong>A</st=
rong></td> <td>LINK</td> </tr> <tr> <td style=3D"padding-right: 12px; paddi=
ng-top: 12px;"><strong>B</strong></td> <td style=3D"padding-top: 12px;">USD=
C</td> </tr> <tr> <td style=3D"padding-right: 12px; padding-top: 12px;"><st=
rong>C</strong></td> <td style=3D"padding-top: 12px;">DAI</td> </tr> <tr> <=
td style=3D"padding-right: 12px; padding-top: 12px;"><strong>D</strong></td=
> <td style=3D"padding-top: 12px;">USDT</td> </tr> </tbody> </table> </div>=
 <p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-word=
;">Find the answer at the end of the email.</p> <div class=3D"cta_button" s=
tyle=3D"margin: 24px 0px 0px; padding: 0px; width: 50%;"><!--[if mso]><tabl=
e width=3D"100%" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"=
border-spacing:0;border-collapse:collapse;mso-table-lspace:0pt;mso-table-rs=
pace:0pt;"><tr><td style=3D"padding:0;" align=3D"left"> <v:roundrect xmlns:=
v=3D"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:of=
fice:word" href=3D"https://links.coinbase.com/a/click?_t=3D3aca563719674181=
92255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJg=
qoj2_q3ldl6_OiwuSImtKGjLsCvwR1zEbb6w67m28J-JzQe50vnLGvU2-qyECHLMhY0gc-AHYlO=
sSLM4qVyOfBRho_sBmriOlrkgQxjqisq2dBLuOrhZYRznntBoIUijNEtasNWpMHntXCoYcdgO3W=
JeumkXKgywtFWUCJuFqwUW-fyLZZ-oyP39ZxLNqbwKZ9igVMZ0-MdoQ9tiyIK_tzzb2PCmD33V0=
JHK-RQnyTV4tvn9rB4KN5f4nibHgB3qd6vrfIpUDhnXZOyvsSSAE0lzikxJP7H_03e0NzjL28zZ=
phEBg_MaxUSFXMefXp36mP7geygaIvJ-6U12Iili9FdGgLeMyh4dYM_a-yBqIn4J1h2dVtRcrc1=
Aii-7OIrBekX3aU_ISQHnE175XgGIR5NLZKcRVdTqR20rpAQ13ObSpcvLfJ-yXIJqseQSQ_pEBh=
AAwNw%3D%3D" style=3D"width:350pt;v-text-anchor:middle;" arcsize=3D"17%" st=
roke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:textbox inset=3D"0,=
0,0,0"><center style=3D"font-family: Helvetica Neue, Helvetica, Arial, sans=
-serif;"><![endif]--><a href=3D"https://links.coinbase.com/a/click?_t=3D3ac=
a56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq=
4ISao7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvwR1zEbb6w67m28J-JzQe50vnLGvU2-qyECH=
LMhY0gc-AHYlOsSLM4qVyOfBRho_sBmriOlrkgQxjqisq2dBLuOrhZYRznntBoIUijNEtasNWpM=
HntXCoYcdgO3WJeumkXKgywtFWUCJuFqwUW-fyLZZ-oyP39ZxLNqbwKZ9igVMeeooT8EY04CgWU=
aZEBTeLWKuBNiZpYkARvYdF7n0gGWYMzFSvh9I31dV1qPTliEDqiQyJ0cqza-lqvwtLU9HvvNqg=
vCMcOvznLlBMLwFlyxmP-6sWP8SYooozowTfua-om61lmoDp_r7Wdg5rfAnHZk_S3FcjLEGV9Qx=
6wFj0YeLekBShutlFZTukGQabaAk2HpMrkRv31cYdYF2S0i_STqdhwoQaFySPAZdhqzVnVkThJk=
nOkZYsqeH9Aqrky-PQ%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer" sty=
le=3D"display: block; margin: 0px; line-height: 1.2; font-size: 16px; text-=
decoration: none; color: rgb(255, 255, 255); background-color: rgb(0, 82, 2=
55); border-radius: 8px; text-align: center; padding: 18px 0px;"><strong>Le=
arn about stablecoins</strong></a><!--[if mso]></center></v:textbox></v:rou=
ndrect></td></tr></table><![endif]--></div> <table width=3D"100%" role=3D"p=
resentation" valign=3D"top" style=3D"table-layout: fixed; vertical-align: t=
op; border-spacing: 0px; border-collapse: collapse; min-width: 100%; text-s=
ize-adjust: 100%;"> <tbody> <tr style=3D"vertical-align: top;"> <td valign=
=3D"top" style=3D"word-break: break-word; vertical-align: top; min-width: 1=
00%; text-size-adjust: 100%; padding: 48px 0px;"><table border=3D"0" cellpa=
dding=3D"0" cellspacing=3D"0" width=3D"100%" align=3D"center" role=3D"prese=
ntation" valign=3D"top" style=3D"table-layout: fixed; vertical-align: top; =
border-spacing: 0px; border-collapse: collapse; border-top: 2px solid rgb(2=
22, 224, 226); width: 100%;"> <tbody> <tr style=3D"vertical-align: top;"> <=
td valign=3D"top" style=3D"word-break: break-word; vertical-align: top; tex=
t-size-adjust: 100%;"><span></span></td> </tr> </tbody> </table></td> </tr>=
 </tbody> </table> <div> <table style=3D"margin: 0px; padding: 0px;"> <tbod=
y> <tr> <td style=3D"margin: 0px; padding-right: 11px; vertical-align: midd=
le;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integra=
tors/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/=
dot-1.5x.png" width=3D"12" height=3D"12" style=3D"display: block; width: 12=
px; height: 12px;"></td> <td style=3D"margin: 0px; padding: 0px; vertical-a=
lign: middle;"><p style=3D"margin: 0px; font-size: 16px; letter-spacing: 0.=
075em;"><strong> NOW TRADING ON COINBASE </strong></p></td> </tr> </tbody> =
</table> </div> <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca5637=
1967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao=
7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvyXqi0dpDp-A4Qmn8vncwJe8vLHmjTv6Og_YKamf5=
Ju6OZlncnFGru4WOh_nrd2O8EDu_r3uHGE49WZWdEswp5YiZN96rEtXCzUQkgZwRvh8acUr9iBJ=
Auh9l3tew83F72XpA7ODEJNr_p8ahMkpUDZWduxCRQ7XGVUMjdL8SLov_Tr16swiX_j-NSanz9d=
5RGoAkHUHkVuluDM29OUn-onaed6AI47pGAMWkblNwKOocg2DtSsUerYoxPs8ebxygyaI_TM7eM=
ZrkbZbnl5SKIKn0JoxouUDmpPV-0_Mo9C_pzdVRP7ScZ0vG_M2rZZf5eHfyytfDDMuDW2cqni3V=
9DHhHNjsXpo58abNgfFP1YrzqnvKoLZsRQ6P_hCAApRZrUTIICsTEUHs3otHifYc9p" target=
=3D"_blank" rel=3D"noopener noreferrer" style=3D"color: rgb(10, 11, 13); te=
xt-decoration: none;"> <table style=3D"margin: 16px 0px 0px; width: 100%;">=
 <tbody> <tr> <td style=3D"font-size: 32px; line-height: 1.26; word-break: =
break-word; vertical-align: middle; white-space: nowrap;"><strong>BUSD</str=
ong></td> <td style=3D"vertical-align: middle; padding-left: 12px;"><img sr=
c=3D"https://dynamic-assets.coinbase.com/e155811f316fe86805fd984c690b316a91=
6660f3331d93e4eda952bde355160056872add3c54ea7bde7310e5fcea71eb26a28f50962f6=
01fe4f4b9d8f332f4aa/asset_icons/8ff4f66b560b0bd5e292eab3fdf73229c5fc8944024=
adbe8920d3fa912494590.png" width=3D"26" height=3D"26" style=3D"display: blo=
ck; width: 26px; height: 26px; vertical-align: middle;"></td> <td style=3D"=
vertical-align: middle; text-align: right; width: 100%;"><img src=3D"https:=
//d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb=
-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Newsletter%20Assets/new=
listings_light.png" width=3D"21" height=3D"18" style=3D"width: 21px; height=
: 18px; vertical-align: middle;"></td> </tr> </tbody> </table> <p style=3D"=
margin: 0px; line-height: 1.6;">Binance USD (BUSD) is a stablecoin running =
on Ethereum. </p> </a><a href=3D"https://links.coinbase.com/a/click?_t=3D3a=
ca56371967418192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DR=
q4ISao7xOdRhJgqoj2_q3ldl6_OiwuSImtKGjLsCvxOZto_4yxmkVOZ7Z1mz9XXnfKUdoKvwg5N=
BeE8YKAbijNqpLQgIJBsvLDz4byTA1pAhZC9Id0wf6yv95M2TDbMQ7kkJV2kJ91Eevbxifosrer=
a0zIIWnQZqOTaBIyGeXI9AZTrbd7RF0leScjsJ7GfrvVJm8zbt3lnCCwCbyJZkRS5_nNKnAM9vm=
5d932zJ3k2WYy6659TCyNW463SUGJjGcjl_YZBveBkLCjRRk9MbSeHXz-jxqf24zvNxydSjyyua=
rsw54cU5PGVr7xTF96fP2woqlsc05Ui_Aa3ZgFMhUF73gVPMjRsfgnEXzBXgjE9Kmgt0pprkl2V=
nHy3KYxeJY9o6MJt626dhy0_cOTgiIA7nJyF8GixoyeyX7iaEUo%3D" target=3D"_blank" r=
el=3D"noopener noreferrer" style=3D"color: rgb(10, 11, 13); text-decoration=
: none;"> <table style=3D"margin: 16px 0px 0px; width: 100%;"> <tbody> <tr>=
 <td style=3D"font-size: 32px; line-height: 1.26; word-break: break-word; v=
ertical-align: middle; white-space: nowrap;"><strong>GMT</strong></td> <td =
style=3D"vertical-align: middle; padding-left: 12px;"><img src=3D"https://d=
ynamic-assets.coinbase.com/ecf07167495d677c12b0b0a1d9d5615f037a38bc6fc6fa09=
5f76112244a098eab35a1adf4b9870a0f9990ca3aee83b5a2557ef9034de9fc3affdb1dbe3e=
50599/asset_icons/8c63609e61cb80be5754c63b34df32039b22e3f115e5c9d39b6a4c064=
43083f8.png" width=3D"26" height=3D"26" style=3D"display: block; width: 26p=
x; height: 26px; vertical-align: middle;"></td> <td style=3D"vertical-align=
: middle; text-align: right; width: 100%;"><img src=3D"https://d15k2d11r6t6=
rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6=
dd6a/3aca56371967418192255878e9689713/Newsletter%20Assets/newlistings_light=
.png" width=3D"21" height=3D"18" style=3D"width: 21px; height: 18px; vertic=
al-align: middle;"></td> </tr> </tbody> </table> <p style=3D"margin: 0px; l=
ine-height: 1.6;">GMT is a Solana token that governs STEPN, a lifestyle app=
 that encourages users to =E2=80=9Cmove-to-earn.=E2=80=9D</p> </a><a href=
=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e968971=
3&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q3ldl6_Oiw=
uSImtKGjLsCvy6o3qN3KyQMh4YvwfdgclcE-EHPCc9GADwMrrH9lEzmy9pbKr0ClRyPwHmL6Vz8=
uawZGEei8yt8F6Ouno5rBO4DiM6_VYmM6i-WL7c-LEYYn2ySsriDqFjzbp5s6bo9s-u5E-NTdQx=
vRrYUrR6IZcYPm0tP3LPAQl4-MQDSBTY4ue9R_uuG02nNNYxzaiLmzkesbK9ecv4fAMOKGUXxX_=
jRkKxqpuH9A0ElrkwzhMlOX6Pi-g22fXw_tt4xkS4Se_WbddDhaSSk19ffoqyFabjWzuu9mM5mh=
L398aw3ird9h4MuIZYlTgS99_E38P-BRjmm350d2fFOta9aohmowH5gN66of5FUL8pl2ckjOD3N=
_jbYqTWtVkBjCd-CAP2t7iRwCv4pSydNat2QzKXc-IA" target=3D"_blank" rel=3D"noope=
ner noreferrer" style=3D"color: rgb(10, 11, 13); text-decoration: none;"> <=
table style=3D"margin: 16px 0px 0px; width: 100%;"> <tbody> <tr> <td style=
=3D"font-size: 32px; line-height: 1.26; word-break: break-word; vertical-al=
ign: middle; white-space: nowrap;"><strong>GAL</strong></td> <td style=3D"v=
ertical-align: middle; padding-left: 12px;"><img src=3D"https://dynamic-ass=
ets.coinbase.com/66be82067cfe90aa10da9d4933a228abccd100658af3824bf614553c64=
b10f0421e670ceae0820577ebad7b13e87893c0644b91ee0bb84010d86a7ef7e524bb3/asse=
t_icons/0f53dac23a875943fb3731ef34a57017ba13f19d20f400d9bd88bb5c63fad4c6.pn=
g" width=3D"26" height=3D"26" style=3D"display: block; width: 26px; height:=
 26px; vertical-align: middle;"></td> <td style=3D"vertical-align: middle; =
text-align: right; width: 100%;"><img src=3D"https://d15k2d11r6t6rl.cloudfr=
ont.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5=
6371967418192255878e9689713/Newsletter%20Assets/newlistings_light.png" widt=
h=3D"21" height=3D"18" style=3D"width: 21px; height: 18px; vertical-align: =
middle;"></td> </tr> </tbody> </table> <p style=3D"margin: 0px; line-height=
: 1.6;">GAL is an Ethereum token that powers Project Galaxy, a network for =
on- and off-chain credentials (such as for credit scoring applications). </=
p> </a><a href=3D"https://links.coinbase.com/a/click?_t=3D3aca5637196741819=
2255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgq=
oj2_q3ldl6_OiwuSImtKGjLsCvzYkPzSBNbyeCAw4KiE9x5A68YBcc7VQFUZBP-WkYeoPLBAasH=
3Gp6lD7m8mQllX-J-D3HRHgi9cmQYfs6sF7XYbagNrSeQXoBYMzEPcR2OxYpIOE_ClBEXVYJfxZ=
Dx4wHbibEn8HFVe8d6HiEK6IHUTBy3vysUuIDLrZPinHPJzanj10yo074X90g5zGENpdLDb65QC=
84omQsig8sEDRBQf1E1RyOz-_tmC3lmdfy830smLqqqjdyd8eRJKJBOAH89xpiAJEyxOetnhkpV=
CgQzQgrexC-Nqr1AU-vEB_CDi3RdUMqaLCVROl4Hn3PW74VSWvGqP1CezPbQvCcWSQ7n5u2shlE=
dKrcViy-F-jEzVZIhP56fJuvd8Kgsx3-d5YApdU2LVv1KCqc4UDDDw1jy0f-SN0M4R45HDP7Iql=
n25w%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"color: r=
gb(10, 11, 13); text-decoration: none;"> <table style=3D"margin: 16px 0px 0=
px; width: 100%;"> <tbody> <tr> <td style=3D"font-size: 32px; line-height: =
1.26; word-break: break-word; vertical-align: middle; white-space: nowrap;"=
><strong>GST</strong></td> <td style=3D"vertical-align: middle; padding-lef=
t: 12px;"><img src=3D"https://dynamic-assets.coinbase.com/3611188b776a05b43=
e628f2ab26482538b4180275bd4ba10b2442b7f0d69bcf2cdd3b9d7a80af7696cbd92eca0bd=
94a8217da7cfc34a6571fe71e847311121d4/asset_icons/999afe3514aa2fbc304fcff813=
04241991ecd8a522d216a4fd7ca495b2aaf920.png" width=3D"26" height=3D"26" styl=
e=3D"display: block; width: 26px; height: 26px; vertical-align: middle;"></=
td> <td style=3D"vertical-align: middle; text-align: right; width: 100%;"><=
img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/6=
69d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Newsle=
tter%20Assets/newlistings_light.png" width=3D"21" height=3D"18" style=3D"wi=
dth: 21px; height: 18px; vertical-align: middle;"></td> </tr> </tbody> </ta=
ble> <p style=3D"margin: 0px; line-height: 1.6;">GST is a Solana token that=
 powers STEPN, a Web3 lifestyle app that encourages users to =E2=80=9Cmove-=
to-earn.=E2=80=9D</p> </a> <table width=3D"100%" role=3D"presentation" vali=
gn=3D"top" style=3D"table-layout: fixed; vertical-align: top; border-spacin=
g: 0px; border-collapse: collapse; min-width: 100%; text-size-adjust: 100%;=
"> <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"top" style=3D"=
word-break: break-word; vertical-align: top; min-width: 100%; text-size-adj=
ust: 100%; padding: 48px 0px;"><table border=3D"0" cellpadding=3D"0" cellsp=
acing=3D"0" width=3D"100%" align=3D"center" role=3D"presentation" valign=3D=
"top" style=3D"table-layout: fixed; vertical-align: top; border-spacing: 0p=
x; border-collapse: collapse; border-top: 2px solid rgb(222, 224, 226); wid=
th: 100%;"> <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"top" =
style=3D"word-break: break-word; vertical-align: top; text-size-adjust: 100=
%;"><span></span></td> </tr> </tbody> </table></td> </tr> </tbody> </table>=
 <p style=3D"margin: 0px; line-height: 1.6; word-break: break-word;"><stron=
g>Trivia answer</strong></p> <table style=3D"margin: 12px 0px 0px; line-hei=
ght: 1.6; word-break: break-word;"> <tbody> <tr> <td style=3D"padding-right=
: 12px;"><strong>A</strong></td> <td>LINK</td> </tr> </tbody> </table> <tab=
le style=3D"margin: 48px 0px 0px;"> <tbody> <tr> <td style=3D"text-align: l=
eft;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integr=
ators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713=
/Rebrand%20Assets/coinbase_footer_wordmark.png" alt=3D"Coinbase" height=3D"=
26" style=3D"display: block; height: 26px; margin-bottom: 24px;"></td> </tr=
> <tr> <td><a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563719674=
18192255878e9689713&_m=3D02fe488b38e04201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdR=
hJgqoj2_q2mdILThH51gwFcGFLXMiSRy2xmGmFG5w77mrnQSujuHptQs1grbsjEZgPORygBNR0I=
BBje60q5S-tKuAvxwJ2R3MnAXQfUndxd8BpGhMmlvKbN7qHR8RN_179qHxLW8_-zY5r9QlvvMnT=
1LZpKa9uBCz_LL-CH84mh3wOa9Oq0i8YgjED2tBPBbt8Z8I5xU6J8cPYGGOWYVuganbZO0mkQeA=
hS3laI9lh1J37XJCajrNyc-SpekzKlLryQK-OVvRuAs6iegvPR3d9VAOsuQfly54ricyoX19MPj=
zrju4GShx2oKjaJkA83Wjr3NCIsQ6Y5GrD0WffOW44mOoDjzaw_PFaAxk2ULeDkdCy4fkQTbu5O=
ehf8oirThVeKSKe2tgZGNFASkm5zpqvYq7L7aR1lhnn9QsVia9VRnRBNBt1_2" title=3D"coi=
nbase ios app" target=3D"_blank" rel=3D"noopener noreferrer"><img src=3D"ht=
tps://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-=
46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Icons/app_apple.png=
" alt=3D"Download on iOS App store" height=3D"46" style=3D"display: block; =
height: 46px; margin-right: 8px;"></a></td> <td><a href=3D"https://links.co=
inbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D02fe488b38e04=
201a3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_q_YBEHVhEXMdrfzjhMkN6GZzHUMZpJ=
Co1qYN2Vm9WvjqUE4pFoRDy2vKc_cPu7CJ_Iow4cq6DI3UkTlqCPiC3n4PVcz6Ajlrs7rpZXSm8=
qJC5UEPJy7gpbcokkAuRR1vETN4W5R2ChUwx2uX1u9Uni1dGr3grJvBPo19PzvYgaQZXGOIGgG7=
SsoOuq2OWtxrmXEEYoqSEqYsaK_w-8Ta5n0sO2-lS8XPMqg5wVpGeRsFZ2ZHsUNr7137W6HLi4E=
ti2kl8aEpKyVJYn2qTbOOI0rz4Iw9R6IBa-jLOb5E4YYh6rjBujLvcCGNb5dBAVwruIARi1b_wu=
4qjil5zefBHxFfy1uDZ5dO-bJUDlk4U7bCibDx5VaCj_EDMp_rLOdmBv-nCuZqkH4MMqoQzZ6MD=
oDFvtZeqLp7PRng_nKTf7Ji" title=3D"coinbase android app" target=3D"_blank" r=
el=3D"noopener noreferrer"><img src=3D"https://d15k2d11r6t6rl.cloudfront.ne=
t/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5637196=
7418192255878e9689713/Icons/app_google.png" alt=3D"Download on Google Play"=
 height=3D"46" style=3D"display: block; height: 46px;"></a></td> </tr> </tb=
ody> </table> <div style=3D"margin-top: 24px;"> <p style=3D"font-size: 12px=
; line-height: 1.8; word-break: break-word; color: rgb(91, 97, 110);">Discl=
aimer: This material is the property of Coinbase, Inc., its parent and affi=
liates ("Coinbase"). The views and opinions expressed herein are those of t=
he author and do not necessarily reflect the views of Coinbase or its emplo=
yees and summarizes information and articles with respect to cryptocurrenci=
es or related topics that the author believes may be of interest. This mate=
rial is for informational purposes only, and is not (i) an offer, or solici=
tation of an offer, to invest in, or to buy or sell, any interests or share=
s, or to participate in any investment or trading strategy, (ii) intended t=
o provide accounting, legal, or tax advice, or investment recommendations o=
r (iii) an official statement of Coinbase. No representation or warranty is=
 made, expressed or implied, with respect to the accuracy or completeness o=
f the information or to the future performance of any digital asset, financ=
ial instrument or other market or economic measure. The information is beli=
eved to be current as of the date indicated on the materials. Recipients sh=
ould consult their advisors before making any investment decision. Coinbase=
 may have financial interests in, or relationships with, some of the entiti=
es and/or publications discussed or otherwise referenced in the materials. =
Certain links that may be provided in the materials are provided for conven=
ience and do not imply Coinbase's endorsement, or approval of any third-par=
ty websites or their content. Coinbase, Inc. is not registered or licensed =
in any capacity with the U.S. Securities and Exchange Commission or the U.S=
. Commodity Futures Trading Commission.<br><br> =C2=A9 Coinbase 2022&nbsp;|=
 Coinbase Inc.<br> 248 3rd St #434 | Oakland, CA 94607 | US<br> +1 (888) 90=
8-7930<br><br> <a style=3D"text-decoration:none;" href=3D"https://links.coi=
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3adf8dfd36f5d7c&_e=3DRq4ISao7xOdRhJgqoj2_qz0JplPA60_p1PZSSCNPSjCRcV6cKrqM7x=
NmFqXCiwT0VmJaJl8pZHHIegC2AweHQBsvCWiSxhQm-LQzw9ygAgQc7q_Kc9gNE5yUHLcjIfrQQ=
HfclWwQgq_KmJd6OZRfOeN0zCDzMioUmiWwQHskfeMgebOD4IbJqbr1Vy6ZYa3Y1r7WQHIWdo5Q=
bJmrejq5ULOUSUB9iZUc4z6YBbKg06Q5FSVvu_5ZPQnUuonRG_fWrddTG9YwTeF8Wf1NrN5cT21=
wa_xel0ZVHrfWRQVZvbuAqCoCJg5Sv8LBwMeU1qH1iFASNImEe__In1ayUd2OmnMwVuH6gvwm6q=
YE2um6kQ25lZbqiA_-vFmu6LMXGRsJ_VTmePxHVhBqWcBCK9su_D2FHGSgEZTqYdFIPxT_OlEZU=
7ZcVdt55CCa9vNzuj0s_X42eu7019P3ay7xOWBqvO3LwgdAiBPIoRAH_gGLmDF_o4yid3gDSFcT=
LvsFwoBQDAo0GllbuAUefQ8tdIGREg%3D%3D">Unsubscribe</a> from future editions =
of Coinbase Bytes.</p> </div> </div> </div> </div> </body> </html>
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