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Date: Thu, 20 Jul 2023 00:19:52 +0000
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From: Coinbase Bytes <newsletter@mail.coinbase.com>
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Reply-To: newsletter@mail.coinbase.com
Subject: Inside the Ripple ruling
To: Vincent Herbert <vince@showfile.com>

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Coinbase BytesWhat last week=E2=80=99s ruling could mean for the future of =
crypto.View=20
in browser=20
<https://links.coinbase.com/e/evib?_t=3D3aca56371967418192255878e9689713&_m=
=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3D4vK1BCx5c7Y3QSQwGcE-PGoHNoFQ21-Z5U=
gE82OBX_NM9NpkWQjCkrscW-uxILQCVnG63glW-Nf51ZncHFrJ8A%3D%3D>
 <https://coinbase.com>
 20/07/2023
 <https://www.coinbase.com>
Last week=E2=80=99s XRP ruling was met with enthusiasm across the crypto in=
dustry.=20
[Image via Unsplash]

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:

 * A closer look at Ripple=E2=80=99s legal victory. What last week=E2=80=99=
s ruling means for=20
XRP, and how the crypto market responded.
 * Key quotes from the cryptoverse. BlackRock CEO Larry Fink on the future =
of=20
crypto and Senator Cynthia Lummis on her updated crypto bill.
 * This week in numbers. How many spot bitcoin ETFs the SEC will begin=20
formally reviewing this week, and other key stats to know.




Bitcoin

 =C2=A323,133.04=20

 -1.11%=20
 <https://coinbase.com/price/bitcoin?bytes_title=3Dbitcoin>=20

Ethereum

 =C2=A31,459.18=20

 +1.30%=20
 <https://coinbase.com/price/ethereum?bytes_title=3Dethereum>=20


XRP

 =C2=A30.64=20

 -5.69%=20
 <https://coinbase.com/price/xrp?bytes_title=3Dxrp>=20

Cardano

 =C2=A30.26=20

 +14.86%=20
 <https://coinbase.com/price/cardano?bytes_title=3Dcardano>=20


Solana

 =C2=A320.32=20

 +20.02%=20
 <https://coinbase.com/price/solana?bytes_title=3Dsolana>=20

Dogecoin

 =C2=A30.05=20

 +9.02%=20
 <https://coinbase.com/price/dogecoin?bytes_title=3Ddogecoin>=20


Bitcoin

 =C2=A323,133.04=20

 -1.11%=20
 <https://coinbase.com/price/bitcoin?bytes_title=3Dbitcoin>=20

Ethereum

 =C2=A31,459.18=20

 +1.30%=20
 <https://coinbase.com/price/ethereum?bytes_title=3Dethereum>=20

XRP

 =C2=A30.64=20

 -5.69%=20
 <https://coinbase.com/price/xrp?bytes_title=3Dxrp>=20


Cardano

 =C2=A30.26=20

 +14.86%=20
 <https://coinbase.com/price/cardano?bytes_title=3Dcardano>=20

Solana

 =C2=A320.32=20

 +20.02%=20
 <https://coinbase.com/price/solana?bytes_title=3Dsolana>=20

Dogecoin

 =C2=A30.05=20

 +9.02%=20
 <https://coinbase.com/price/dogecoin?bytes_title=3Ddogecoin>=20
Price changes are for the past week, ending on Jul 20, 2023 at 12:15 AM UTC
See the latest prices <https://www.coinbase.com/buy>



 RIPPLE EFFECT=20

Markets rally after court rules that XRP sold by Ripple via exchanges not a=
=20
security

Last Thursday, a federal court in New York ruled that certain sales of XRP=
=20
tokens (which are used on the Ripple payment network) via exchanges were no=
t=20
securities transactions. In 2020, the U.S. Securities and Exchange Commissi=
on=20
(SEC) sued Ripple, alleging that it had broken securities laws when it sold=
 XRP.

Following last week=E2=80=99s ruling, a wide range of cryptocurrencies rall=
ied =E2=80=94 with=20
BTC breaking $31,000, ETH breaking $2,100, and XRP itself briefly surging a=
s=20
much as 96%. Prices settled over the weekend, with BTC down around 5% over =
the=20
last five days. Some U.S. exchanges, including Coinbase, also made XRP trad=
ing=20
available to customers.

Why is this ruling such big news? We=E2=80=99re breaking it down.

What are Ripple and XRP?=20

Ripple Labs is the technology company behind the XRP blockchain and token=
=20
<https://www.coinbase.com/price/xrp>, which launched in 2012 and are design=
ed=20
to work together as a fast, cheap, and scalable peer-to-peer global payment=
s=20
system. Unlike most cryptocurrencies, XRP is =E2=80=9Cpremined=E2=80=9D and=
 has a maximum=20
supply of 100 billion tokens.

Why did the SEC say it was suing Ripple, and what were the results of last=
=20
week=E2=80=99s court ruling?

The SEC claimed <https://www.sec.gov/news/press-release/2020-338> that XRP =
is=20
a security and that beginning in 2013, Ripple=E2=80=99s sales of XRP tokens=
 constituted=20
an unregistered securities offering.

In her decision, U.S. District Judge Analisa Torres ruled=20
<https://www.coindesk.com/policy/2023/07/13/sale-of-xrp-on-exchanges-not-in=
vestment-contracts-court-rules-in-sec-case-against-ripple/>
 that XRP itself is not a security. The court then moved to the issue of=20
whether transactions involving XRP could be considered securities transacti=
ons.=20
Judge Torres ruled that certain XRP sold to hedge funds and other instituti=
onal=20
purchasers amounted to securities transactions.

But importantly, Judge Torres also ruled that the XRP at issue sold through=
=20
exchanges werenot securities transactions.

What distinction did the judge make between programmatic transactions on=20
exchanges and Ripple=E2=80=99s sales to institutional investors?

The judge=E2=80=99s opinion is lengthy. According to Reuters=20
<https://www.reuters.com/legal/us-judge-says-sec-lawsuit-vs-ripple-labs-can=
-proceed-trial-some-claims-2023-07-13/>
, as part of the opinion, =E2=80=9CTorres ruled that Ripple's XRP sales on =
public=20
cryptocurrency exchanges were not offers of securities under the law, becau=
se=20
purchasers did not have a reasonable expectation of profit tied to Ripple's=
=20
efforts.=E2=80=9D

In contrast, the court ruled that Ripple=E2=80=99s =E2=80=9Cmarketing aimed=
 at institutional=20
investors made [it] clear the company =E2=80=98was pitching a speculative v=
alue=20
proposition for XRP=E2=80=99=E2=80=9D.

How did markets respond?=20

A wide range of cryptocurrencies rallied on the news, with XRP itself spiki=
ng=20
as much as 96%. Some U.S. exchanges, includingCoinbase=20
<https://twitter.com/CoinbaseAssets/status/1679603758165024774?s=3D20>, mad=
e XRP=20
trading available to customers.Speaking to CNBC=20
<https://www.cnbc.com/2023/07/14/coinbase-buoyed-in-case-against-sec-after-=
landmark-ripple-xrp-decision.html>
, Coinbase Chief Legal Officer Paul Grewal said, =E2=80=9CFor exchanges, fo=
r tokens=20
that are listed on exchanges, for regular investors, there=E2=80=99s no que=
stion that=20
this ruling strikes a blow to the idea that somehow securities are being tr=
aded=20
when people go onto exchanges and trade the assets.=E2=80=9D

Will the SEC appeal the decision?

The order remains subject to appeal, although the timing of an appeal is=20
uncertain. Ripple=E2=80=99s chief legal officertold Reuters=20
<https://www.reuters.com/technology/crypto-firms-facing-us-sec-charges-find=
-hope-ripple-ruling-experts-say-2023-07-17/>
 that the company =E2=80=9Cwouldn't shy away from an appeal, because the ju=
dge was=20
right on her core findings. I believe any appellate court looking at this w=
ould=20
amplify and endorse those rulings, which would certainly be welcome.=E2=80=
=9D

The bottom line=E2=80=A6

Over the last year, crypto markets have been burdened by regulatory=20
uncertainty in the U.S=20
<https://www.coinbase.com/blog/we-asked-the-sec-for-reasonable-crypto-rules=
-for-americans-we-got-legal>
. The court=E2=80=99s ruling could serve as a step toward clarifying U.S. r=
egulations =E2=80=94=20
with a variety of lawmakers and analysts weighing in on possible outcomes.

Congressman Ritchie Torres (D-NY) penned a letter=20
<https://decrypt.co/149079/end-sec-crusade-rep-ritchie-torres-annalisa-torr=
es-doctrine>
 to the SEC andurged <https://twitter.com/RepRitchie/status/168133608887327=
9488>
 the agency to =E2=80=9Creassess its reckless regulatory assault on the cry=
pto=20
industry,=E2=80=9D while majority whip Tom Emmer (R-IN)tweeted=20
<https://twitter.com/GOPMajorityWhip/status/1679525171479150592> that "a to=
ken=20
is separate and distinct from an investment contract it may or may not be p=
art=20
of. Now, let=E2=80=99s make it law.=E2=80=9D

Justin Slaughter, a former SEC official who is now policy director at ventu=
re=20
capital firm Paradigm,noted=20
<https://www.politico.com/news/2023/07/14/crypto-court-victory-reignites-po=
wer-struggle-with-genslers-sec-00106342>
, =E2=80=9CWhat Ripple did is mark the end of a stage in crypto [of] this i=
dea that the=20
SEC could by itself resolve the hard questions of crypto.=E2=80=9D
Learn more about the XRP ruling=20
<https://twitter.com/coinbase/status/1679853585821999104?>=20
<https://www.coinbase.com/learning-rewards>

 TAKES=20

BlackRock CEO Larry Fink talks crypto=E2=80=99s future, Sen. Cynthia Lummis=
 shares=20
updates to bipartisan crypto bill

What Fink thinks=E2=80=A6 Larry Fink, the CEO of $9.5 trillion asset manage=
r BlackRock,
joined CNBC=20
<https://twitter.com/mdudas/status/1679867935441969155?s=3D46&t=3DKPJ2kEURu=
MWq6zSXHDcVyA>
 last Friday to discuss his evolving view on cryptocurrency. =E2=80=9CI do =
think a lot=20
of crypto is an international asset =E2=80=A6 because it=E2=80=99s so inter=
national, it=E2=80=99s going=20
to transcend any one currency in currency valuation.=E2=80=9D Last month, B=
lackRock=20
applied to the SEC for a spot BTC ETF, kickstarting a Wall Street-aided cry=
pto=20
rally.

Take two... Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-NY)=
=20
recentlyunveiled=20
<https://www.gillibrand.senate.gov/news/press/release/lummis-gillibrand-rei=
ntroduce-comprehensive-legislation-to-create-regulatory-framework-for-crypt=
o-assets/>
 an updated version of their bipartisan Responsible Financial Innovation Ac=
t,=20
which seeks to clarify key regulatory questions. So what=E2=80=99s in the r=
ebooted=20
bill? Lummistweeted <https://twitter.com/SenLummis/status/16795190502405898=
26>,=20
=E2=80=9CConsumer protection is heavily prioritized and criminal activity i=
s cracked=20
down on while a strong regulatory foundation for the crypto asset industry =
in=20
America is solidified for the long haul.=E2=80=9D
Read up on crypto advocacy=20
<https://www.coinbase.com/public-policy/advocacy/standwithcrypto>



 NUMBERS TO KNOW=20

$742 million

Total inflows into digital-asset funds over the last four weeks, according =
to=20
a new report fromCoinShares=20
<https://blog.coinshares.com/volume-140-digital-asset-fund-flows-weekly-rep=
ort-9f970fceec21>
 =E2=80=94 the =E2=80=9Clargest run=E2=80=9D since the final quarter of 202=
1.

$6 million

Seed funding raised by Portugal-based startup Ethena, which aims to develop=
 a=20
fully collateralizedstablecoin=20
<https://www.coinbase.com/learn/crypto-basics/what-is-a-stablecoin#:~:text=
=3DDefinition,to%20unpegged%20cryptocurrencies%20like%20Bitcoin.>
 backed by derivatives and a digitally native savings bond on top of that=
=20
stablecoin. The bond, perCoinDesk=20
<https://www.coindesk.com/business/2023/07/17/dragonfly-arthur-hayes-back-6=
m-round-for-new-stablecoin-ethena/>
, =E2=80=9Cfunctions in a similar way to as a U.S. Treasury but without the=
 ties to a=20
government or centralized banking institution.=E2=80=9D Crypto-focused VC f=
irm=20
Dragonfly led the fundraise.

647,000

Amount of Bitcoin Ordinals=20
<https://www.coinbase.com/bytes/archive/the-bitcoin-ordinals-buzz-explained=
#:~:text=3DWhat%20are%20Ordinals%3F,similar%20to%20a%20penny%20vs.>
 that wereadded=20
<https://www.theblock.co/post/240073/bitcoin-ordinals-saw-busy-weekend-as-i=
nscriptions-neared-650000>
 to Bitcoin=E2=80=99s blockchain this weekend. Sunday was the third-highest=
 volume day=20
for Ordinals (with roughly 386,000) since they were introduced in January.=
=20
Ordinals are essentially NFTs for the Bitcoin blockchain =E2=80=94 users ca=
n =E2=80=9Cinscribe=E2=80=9D=20
audiovisual, text, and other data onto a single satoshi, which is the lowes=
t=20
denomination of BTC, similar to a penny vs a dollar.

501,440

Seven-day moving average of new unique addresses on the Bitcoin network las=
t=20
Wednesday =E2=80=94 the highest level since May 2021, according toThe Block=
=20
<https://www.theblock.co/post/240146/new-bitcoin-addresses-hits-yearly-high=
>.=20
The jump in new addresses coincided with bitcoin=E2=80=99s roughly 20% rall=
y over last=20
month.

65%

Percentage of survey respondents that reported their crypto holdings=20
=E2=80=9Crepresented a long-term investment,=E2=80=9D in a newresearch stud=
y=20
<https://www.broadridge.com/_assets/pdf/broadridge-crypto-asset-disclosure-=
study-report.pdf>
 from fintech company Broadridge. The firm polled 2,000 crypto market=20
participants across Canada, the U.K., and the U.S. from March to June 2023.

8

Number of spot bitcoin ETF=20
<https://www.coinbase.com/bytes/archive/bitcoin-rallies-on-wall-streets-cry=
pto-moves#:~:text=3Dthe%20latest%20prices-,WHALE%20STREET,-BTC%20rallies%20=
as>
 applicants (including BlackRock, Fidelity, and VanEck) who are beginning t=
he=20
formal review process with the SEC this week. BlackRock, the world=E2=80=99=
s largest=20
asset manager,announced=20
<https://www.coinbase.com/bytes/archive/bitcoin-rallies-on-wall-streets-cry=
pto-moves>
 its BTC ETF efforts in June =E2=80=94 helping spark a crypto rally and pro=
mpting other=20
firms to file or refilesimilar applications=20
<https://decrypt.co/145566/wisdomtree-invesco-follow-blackrock-with-spot-bi=
tcoin-etf-applications>
.




 TOKEN TRIVIA=20

Which cryptocurrency uses the Lightning Network?

ABTC
BETH
CSOL
DAll of the above
Find the answer at the end of the email.
Learn about the Lightning Network=20
<https://www.coinbase.com/learn/crypto-basics/what-is-lightning>



 NOW TRADING ON COINBASE=20

HNT
HNT is the utility token of the Helium network.=20
 <https://www.coinbase.com/price/helium?bytes_new=3Dhelium>


Trivia answer

ABTC

 <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>
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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 The Scalpel - 18th Floor | 52 Lime Street | London | EC3M 7AF | UK=20
www.coinbase.com <https://www.coinbase.com/>=20
Get in touch <https://help.coinbase.com/en>=20

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Electronic Money Regulations 2011 (register number 900635) for the issuing =
of=20
electronic money.

 Cryptocurrency is unregulated in the UK and may gain in value, or lose som=
e=20
or all value. Profits may be subject to Capital Gains Tax.


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TXQ5kPe264Ha4ZMnC3nA1eGhqcCcXK8GxSg7HKZveEgn5Ownjgv_uvM43M-BXQCedcfXOYfQONf=
iTVfvvqz0RILLazk-oVlv_v18HtV4enBq74O0PytIX3RYjhR3-bvtQsB8w61H8efesKuR21BXeF=
w3I3piMShjkcE6Za5JLyeywBnyapRG2JWITbrGo15jTT9IhKjEryLP" title=3D"Coinbase B=
ytes" target=3D"_blank" rel=3D"noopener noreferrer"><img src=3D"https://d15=
k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e=
-c542cff6dd6a/3aca56371967418192255878e9689713/cbytes-4x.png" height=3D"36"=
 style=3D"display: block; height: 36px;"></a></td><td style=3D"text-align: =
right;"><p style=3D"font-size: 20px; color: rgb(10, 11, 1); margin: 10px 0p=
x 0px;"> 20/07/2023</p></td></tr></tbody></table></div><a href=3D"https://l=
inks.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2=
e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_T5eXZt9YNP-xgm0Cq=
M7oIxR6rRMtp7hG7P5aeSZeEXeGTQQUqusOETFJO04Ale7lV9BqKLex7-woiKhlpPMx2-9CByla=
QDZGf82IY3LHS5TnmOvGIVG6kug4Z78bucjM3hvsAe8j6gfoT6ZXV05vEEhDj879oK7vdUfwEL9=
4y6bIMV5fTyNXTOYB13SbAGwVTtTddgxDWBLndYbZpM9jLraObGakjxDlBY0x3ZI6ZYjgDHQxYE=
YrWB1bE-mN_bD566Xs9evawD6GgyRtVsCKUV9LYmWyJKnvd07VzE" target=3D"_blank" rel=
=3D"noopener noreferrer"><img src=3D"https://images.ctfassets.net/q5ulk4bp6=
5r7/43KAGVPZXK382emRKEuY9z/326479c88d2cddc5e5563877e79b9bf0/Screenshot_2023=
-07-19_at_7.39.10_AM.png" width=3D"100%" style=3D"display: block; width: 10=
0%;"></a><p style=3D"margin: 16px 0px 0px; line-height: 1.5; word-break: br=
eak-word; font-size: 12px; color: rgb(91, 97, 110);">Last week=E2=80=99s XR=
P ruling was met with enthusiasm across the crypto industry. [Image via Uns=
plash]</p><p style=3D"margin: 48px 0px 16px; font-size: 32px; line-height: =
1.26; word-break: break-word;"><strong>What=E2=80=99s up? It=E2=80=99s Coin=
base Bytes </strong></p><p style=3D"margin: 0px; line-height: 1.6; word-bre=
ak: break-word;">There=E2=80=99s never a dull moment on the blockchain. Her=
e=E2=80=99s what you need to know this week:</p><!--[if mso]><ul style=3D"l=
ine-height:1.6;mso-line-height-alt:26px;"><![endif]--><!--[if !mso]><!-- --=
><ul style=3D"margin: 10px 0px; padding-left: 24px; line-height: 1.6;"><!--=
<![endif]--><li style=3D"margin: 0px; padding: 6px 0px;"><strong>A closer l=
ook at Ripple=E2=80=99s legal victory. </strong>What last week=E2=80=99s ru=
ling means for XRP, and how the crypto market responded.</li><li style=3D"m=
argin: 0px; padding: 6px 0px;"><strong>Key quotes from the cryptoverse. </s=
trong>BlackRock CEO Larry Fink on the future of crypto and Senator Cynthia =
Lummis on her updated crypto bill.</li><li style=3D"margin: 0px; padding: 6=
px 0px;"><strong>This week in numbers. </strong>How many spot bitcoin ETFs =
the SEC will begin formally reviewing this week, and other key stats to kno=
w.</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-height:=
0;overflow:hidden;"> <table style=3D"width:100%;table-layout:fixed;margin:0=
;"> <tbody> <tr> <td style=3D"padding-top:40px;"> <a href=3D"https://comm.c=
oinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371=
967418192255878e9689713%26_m=3Debc8e2e8ef21456a87dced90a7e36d2b%26_e=3DL7S-=
9Zn5YSR6zEUASQ_y2BMJZGTPgv7aWplTzaH8u0THe9GuA9zvi7vmHhcmFRTE4bZqTbGQ8Z96mkW=
1j_Yk7f_oc46rxnGu-rm-TVAye7-nCfRYTKRIOTA6HHi97uKWcHliXKNuWEAznbZd9VFSBfaWRc=
4SmpTsOlQx6vXrV2No72Kaczr4NUNW5y6LDFMZiqsixk2lJXiM7N70dVOO34COXKHo3WcZUetw0=
6pReLlxPOmuRnwRzwfo_kMmBRdRMVU1vpU4zapN5ZwV256B8ikIJTSp3xLhUXpTTU8_QPvBcRZA=
1Q8E0RHd8rz-TSAKv4LqFi4FZazAEWMMLOALnMielgbb8yQKqT401XJPk9Q%253D/1/01000189=
70aadc05-16f0005f-fd68-4cf3-821f-e50e34206df5-000000/3x1L3Gd1ainZA04jdw3-FL=
t_Qmo0z55fXFX70FeNuPQ=3D310" target=3D"_blank" style=3D"text-decoration:non=
e;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;vertical-ali=
gn:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/In=
tegrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e968=
9713/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"paddi=
ng:0;vertical-align:top;"> <div style=3D"text-align:left;margin:0px 0px 0px=
 10px;line-height:1;"> <p style=3D"margin:0;"><strong>Bitcoin</strong></p> =
<p style=3D"margin:8px 0px;"> =C2=A323,133.04 </p> <p style=3D"margin:0;fon=
t-size:12px;"> -1.11% </p> </div> </td> </tr> </tbody> </table> </a> </td> =
<td style=3D"padding-top:40px;"> <a href=3D"https://comm.coinbase.com/CL0/h=
ttps:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9=
689713%26_m=3Debc8e2e8ef21456a87dced90a7e36d2b%26_e=3DL7S-9Zn5YSR6zEUASQ_y2=
BMJZGTPgv7aWplTzaH8u0S3MGQX0p3oUlmtRPgdnBsEwIwr8NTfeLawM-l3gJfKzPmbPeXVrQqj=
iWvV-yq8xEojmjfvG4SrNvY5EU7Y7EAMnSnRdQAfQh3Fve2LiCPl9ELl29B6VpAbCbPkZHmoeek=
hskD-wM3LRpxxSg9vGFfYfq2ylUhcWwDc6pDx1oY_CcD-zxssDvU3m0WvSilFBtzPtnoa6kYaXu=
vv_kjrQrkFl0ZuJnYDoe-QMnemRyfWPTvSwuXulTVHTfuL9JGpv_meDLZRG20vatxNpkLue-Uyr=
5YhLpZL8AlOQVCZGQEACbb86vlIQqA3HYSSq0VUvM0%253D/1/0100018970aadc05-16f0005f=
-fd68-4cf3-821f-e50e34206df5-000000/9jHeh-s7qB7a3FsPYmTlcMtxIr_UhJqNA65TnJP=
vADs=3D310" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"=
> <table> <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img sr=
c=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d571=
3-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-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 style=3D"margin:0;"><strong>Ethereum</strong></p> <p style=3D"margin=
:8px 0px;"> =C2=A31,459.18 </p> <p style=3D"margin:0;font-size:12px;"> +1.3=
0% </p> </div> </td> </tr> </tbody> </table> </a> </td> </tr> <tr> <td styl=
e=3D"padding-top:20px;"> <a href=3D"https://comm.coinbase.com/CL0/https:%2F=
%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%2=
6_m=3Debc8e2e8ef21456a87dced90a7e36d2b%26_e=3DL7S-9Zn5YSR6zEUASQ_y2BMJZGTPg=
v7aWplTzaH8u0RnrBGJ48C9k31EWjdMTD8lYMRRk5nACzX5CMirNX85-Yek-PP6I1hVdmmWSpXU=
IMHRsMvPb8PIVN8cwgbcSuLHcbSAqaOoNY7xHk4xoZvdpV4aDXr4Sqw3ul1qz7PavlYgpZOsvNR=
drhucNK6xTST1IwOn4PV38tuLfZNUtrQ-E-WvdYk8drtCv3SE67A_KNY3WV9I7prfbddZLvhs03=
XBt5jkrd9coH30EjeCHd8fOC0-nNsFa5cOYX1zmceFaObujVbZvzI2HorKVoeTOU7mTpEUozl0P=
pVmearpcXeF4zOZm33Hx49Whp3wjWdVvOY%253D/1/0100018970aadc05-16f0005f-fd68-4c=
f3-821f-e50e34206df5-000000/Dcl7IPUgxAWMHMrqxPrOWtdmDUrUsSfISiE1A44m_8U=3D3=
10" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <table=
> <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D"htt=
ps://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-4=
6bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" styl=
e=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-align:top;" hei=
ght=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=
 style=3D"margin:0;"><strong>XRP</strong></p> <p style=3D"margin:8px 0px;">=
 =C2=A30.64 </p> <p style=3D"margin:0;font-size:12px;"> -5.69% </p> </div> =
</td> </tr> </tbody> </table> </a> </td> <td style=3D"padding-top:20px;"> <=
a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%=
2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3Debc8e2e8ef21456a87dc=
ed90a7e36d2b%26_e=3DL7S-9Zn5YSR6zEUASQ_y2BMJZGTPgv7aWplTzaH8u0Qr-CveBQxmw-i=
XFn0IEqJdomTbWvteegKf75zc2mSCe060BtlKg1d6ttJtSgQnRFw_mjynHoMLlS7IKnqrzTOJB9=
y8WH_7ghAst69kyPSebUV1DFiEAVVPqW_WmiUe6r_AZTdmN29ZckOsR0HsvOv9rs4KLJD3pqhLB=
W87DK4rxxnzXO-3A8spoe6LUEGbZHJTI9hFM449E8uBIpzSCmm1SZU3yZE9gdO-79H2McbIjuz4=
sXkHtFA_q7vNH6RlBPMoGZUCdvF_db72EJmmS5sJEBVUzYxJ4e-Hd2E4tXaZr0RKX-o2TziTN2x=
k8kmVYBo%253D/1/0100018970aadc05-16f0005f-fd68-4cf3-821f-e50e34206df5-00000=
0/GFRnpcm9FpTLRljxJc-7HmHsLEG6i48GfXWCJ0wf2Ls=3D310" 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/up-arrow.png" style=3D"height:12px;width:12p=
x;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 style=3D"margin:0;"><stro=
ng>Cardano</strong></p> <p style=3D"margin:8px 0px;"> =C2=A30.26 </p> <p st=
yle=3D"margin:0;font-size:12px;"> +14.86% </p> </div> </td> </tr> </tbody> =
</table> </a> </td> </tr> <tr> <td style=3D"padding-top:20px;"> <a href=3D"=
https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F=
_t=3D3aca56371967418192255878e9689713%26_m=3Debc8e2e8ef21456a87dced90a7e36d=
2b%26_e=3DL7S-9Zn5YSR6zEUASQ_y2BMJZGTPgv7aWplTzaH8u0Ro3Bs4PpSKju1FlNgsjDzgy=
3DuT3F1oG-CgPSCoMzSXMqPPruU-2v5Mx26lChHvhqmAVTBSF_0z4omltvJ3EIzMzjGB92i_NwH=
2lyEPVTJkbKXQhMsDr2_apl01JOZps4knGuzC-HfIv09XLGJ4dqQ9f7NxeKCv7WkZ9CRSKaI5G7=
u5kxv3Gdd4zqwElxIo5waPnoPWDl8Ic6mjUu06yaWAnAJjiiTqzuHHe4anTYSYiuT6Xw0WCV1tg=
ANn6lKMOQ9TzFEEo2mFRmPHAt4mUiVl8ItbhcfLIrpCt4gV3Fkc0vTq3ZM9VXPmlWVK3CsCKE%2=
53D/1/0100018970aadc05-16f0005f-fd68-4cf3-821f-e50e34206df5-000000/WVvthHdl=
c0UOrSW2uSUPigxzN69G9xZRiXF3v5Msni0=3D310" 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/p=
ublic/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5637196741=
8192255878e9689713/up-arrow.png" style=3D"height:12px;width:12px;margin:2px=
 0px 0px 0px;vertical-align:top;" height=3D"12" width=3D"12"/> </td> <td st=
yle=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</s=
trong></p> <p style=3D"margin:8px 0px;"> =C2=A320.32 </p> <p style=3D"margi=
n:0;font-size:12px;"> +20.02% </p> </div> </td> </tr> </tbody> </table> </a=
> </td> <td style=3D"padding-top:20px;"> <a href=3D"https://comm.coinbase.c=
om/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192=
255878e9689713%26_m=3Debc8e2e8ef21456a87dced90a7e36d2b%26_e=3DL7S-9Zn5YSR6z=
EUASQ_y2BMJZGTPgv7aWplTzaH8u0T9L9oNPqsH-N_7ic2VKff0qnveAX8sjw9Mm7viO8TBx2Qx=
j-_cVyYfZbuc-YUgydXCDZF4Leie4Gw3aGUF-nY7-KfEekNG5YEkMa3tkX1oD4aw0bfi9M7BIud=
6DlGBG0KDT2jkUKX4hvBvK5x70zSsV-_Sg2dDkgQ38E_NNEIPvQnIiYZTOgRgWrRPjMJ9Xosq2f=
okJsmqMr-5lBaOByOQFJQlE4xtq5xKicS9RXSMyTrC0Jtva7zB3eM26kxNhYJX4hq_f6qxQ9HU6=
fbPGY1MoJyuXDb74cg6A4k1xAmNAkECNpLg-24s_oGC24NsR3o%253D/1/0100018970aadc05-=
16f0005f-fd68-4cf3-821f-e50e34206df5-000000/HviqOdu_Ba3P1AQ1c0MLrI7GTzxJjdX=
-RqOVOmsIJz8=3D310" 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/up-a=
rrow.png" style=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-a=
lign:top;" height=3D"12" width=3D"12"/> </td> <td style=3D"padding:0;vertic=
al-align:top;"> <div style=3D"text-align:left;margin:0px 0px 0px 10px;line-=
height:1;"> <p style=3D"margin:0;"><strong>Dogecoin</strong></p> <p style=
=3D"margin:8px 0px;"> =C2=A30.05 </p> <p style=3D"margin:0;font-size:12px;"=
> +9.02% </p> </div> </td> </tr> </tbody> </table> </a> </td> </tr> </tbody=
> </table> </div> <!--<![endif]--> <div class=3D"mobile_hide"> <table style=
=3D"width:100%;table-layout:fixed;margin:0;"> <tbody> <tr> <td style=3D"pad=
ding-top:40px;"> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks=
.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3Deb=
c8e2e8ef21456a87dced90a7e36d2b%26_e=3DL7S-9Zn5YSR6zEUASQ_y2BMJZGTPgv7aWplTz=
aH8u0THe9GuA9zvi7vmHhcmFRTE4bZqTbGQ8Z96mkW1j_Yk7f_oc46rxnGu-rm-TVAye7-nCfRY=
TKRIOTA6HHi97uKWcHliXKNuWEAznbZd9VFSBfaWRc4SmpTsOlQx6vXrV2Ndg0AILuVy3fMh-U3=
4jq_KL2RkoQIaJXadX98kITIxFbo9lif8p3THvGXAxrhDhbKk3-hfMS7Xg0T41GGOfUsn0x-puF=
b645q7hHJ06fex7fOnZMvnssKvJH_KeLIss0vYzoxz5_iM1_BzA6NmDpBONoc2dAav1EzzUk3Am=
aFWzPypjgMVEF_AgfnRMuy5bf0%253D/1/0100018970aadc05-16f0005f-fd68-4cf3-821f-=
e50e34206df5-000000/63vka-IlaM9mAr51F7XrUzDLiwkru-Dr7PZQz81J4Dc=3D310" targ=
et=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbody=
> <tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D"https://d15=
k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e=
-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" style=3D"hei=
ght:12px;width:12px;margin:2px 0px 0px 0px;vertical-align:top;" height=3D"1=
2" width=3D"12"/> </td> <td style=3D"padding:0;vertical-align:top;"> <div s=
tyle=3D"text-align:left;margin:0px 0px 0px 10px;line-height:1;"> <p style=
=3D"margin:0;"><strong>Bitcoin</strong></p> <p style=3D"margin:8px 0px;"> =
=C2=A323,133.04 </p> <p style=3D"margin:0;font-size:12px;"> -1.11% </p> </d=
iv> </td> </tr> </tbody> </table> </a> </td> <td style=3D"padding-top:40px;=
"> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%=
2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3Debc8e2e8ef21456a=
87dced90a7e36d2b%26_e=3DL7S-9Zn5YSR6zEUASQ_y2BMJZGTPgv7aWplTzaH8u0S3MGQX0p3=
oUlmtRPgdnBsEwIwr8NTfeLawM-l3gJfKzPmbPeXVrQqjiWvV-yq8xEojmjfvG4SrNvY5EU7Y7E=
AMnSnRdQAfQh3Fve2LiCPl9ELl29B6VpAbCbPkZHmoeekhskD-wM3LRpxxSg9vGFfYntc33xLpz=
wx5WV5EYUlQ6uYi8iRYueD0Y6Dei9fRtkQxeHx8OVN0VuhA5R2bRTQjeDHet9eXGp_TSNplROwU=
jaeqDrExm8FS0m-mUL15Fn9-rglC6dlKI5Wq-LPUosfojWj8o8jPIVVSqc9iGtSZqrajCpG2m08=
T8ovKCnhJBGM%253D/1/0100018970aadc05-16f0005f-fd68-4cf3-821f-e50e34206df5-0=
00000/rZjgOc1J9UjfcRukTK6lnliiuskbz-5xYu6_GrClnVM=3D310" target=3D"_blank" =
style=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <td sty=
le=3D"padding:0;vertical-align:top;"> <img src=3D"https://d15k2d11r6t6rl.cl=
oudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/=
3aca56371967418192255878e9689713/up-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=A31,459.18 </p=
> <p style=3D"margin:0;font-size:12px;"> +1.30% </p> </div> </td> </tr> </t=
body> </table> </a> </td> <td style=3D"padding-top:40px;"> <a href=3D"https=
://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D=
3aca56371967418192255878e9689713%26_m=3Debc8e2e8ef21456a87dced90a7e36d2b%26=
_e=3DL7S-9Zn5YSR6zEUASQ_y2BMJZGTPgv7aWplTzaH8u0RnrBGJ48C9k31EWjdMTD8lYMRRk5=
nACzX5CMirNX85-Yek-PP6I1hVdmmWSpXUIMHRsMvPb8PIVN8cwgbcSuLHcbSAqaOoNY7xHk4xo=
ZvdpV4aDXr4Sqw3ul1qz7PavlYII-5POjK3T3sq3q-oWqn1V66YuvJI_juMcfF077ZDq3x7Stvc=
4yZYQa6WsrUORni2liAPV57HPmCjDGuNCN7yomr4-XohDCaq_f6rOKZUya4Q4J8eZ6uWmBKKVLs=
OKY8PfIVmi4IE1u1y7H2km67SAlM-t74YG-WWgnkpu79e9qNfs3mccFalYPKugYo3Zbw%253D/1=
/0100018970aadc05-16f0005f-fd68-4cf3-821f-e50e34206df5-000000/_qvXcTrQ4wdUN=
jZvKeVmW8VYmukBNBrNwcpZr8OIDHM=3D310" target=3D"_blank" style=3D"text-decor=
ation:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;ver=
tical-align:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public=
/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca563719674181922=
55878e9689713/down-arrow.png" style=3D"height:12px;width:12px;margin:2px 0p=
x 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:0p=
x 0px 0px 10px;line-height:1;"> <p style=3D"margin:0;"><strong>XRP</strong>=
</p> <p style=3D"margin:8px 0px;"> =C2=A30.64 </p> <p style=3D"margin:0;fon=
t-size:12px;"> -5.69% </p> </div> </td> </tr> </tbody> </table> </a> </td> =
</tr> <tr> <td style=3D"padding-top:20px;"> <a href=3D"https://comm.coinbas=
e.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418=
192255878e9689713%26_m=3Debc8e2e8ef21456a87dced90a7e36d2b%26_e=3DL7S-9Zn5YS=
R6zEUASQ_y2BMJZGTPgv7aWplTzaH8u0Qr-CveBQxmw-iXFn0IEqJdomTbWvteegKf75zc2mSCe=
060BtlKg1d6ttJtSgQnRFw_mjynHoMLlS7IKnqrzTOJB9y8WH_7ghAst69kyPSebUV1DFiEAVVP=
qW_WmiUe6r_-cWbsQijGyUOcYT8pCQUDEARLtvqqMpl75xmkPXg9GBxAPn20Qm36WVataq7pMrG=
qHIe-ZXwmoGptYyoCrWGKumyzj0lniIGByYxzt1PK_sxhvW4bCh0RVCR511DeRjqzVELkFBPGmq=
l58TtCXZ02O4-qMNdse2cSPPCh3EPWYPD4P13iDjEJDmK96F29hm8%253D/1/0100018970aadc=
05-16f0005f-fd68-4cf3-821f-e50e34206df5-000000/fs7XDDEsp1ZNn2Q-BKM7Ct_WE72x=
cgy8b10mGItkHjQ=3D310" target=3D"_blank" style=3D"text-decoration:none;colo=
r:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;vertical-align:top=
;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrat=
ors/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/u=
p-arrow.png" style=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertica=
l-align:top;" height=3D"12" width=3D"12"/> </td> <td style=3D"padding:0;ver=
tical-align:top;"> <div style=3D"text-align:left;margin:0px 0px 0px 10px;li=
ne-height:1;"> <p style=3D"margin:0;"><strong>Cardano</strong></p> <p style=
=3D"margin:8px 0px;"> =C2=A30.26 </p> <p style=3D"margin:0;font-size:12px;"=
> +14.86% </p> </div> </td> </tr> </tbody> </table> </a> </td> <td style=3D=
"padding-top:20px;"> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Fl=
inks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=
=3Debc8e2e8ef21456a87dced90a7e36d2b%26_e=3DL7S-9Zn5YSR6zEUASQ_y2BMJZGTPgv7a=
WplTzaH8u0Ro3Bs4PpSKju1FlNgsjDzgy3DuT3F1oG-CgPSCoMzSXMqPPruU-2v5Mx26lChHvhq=
mAVTBSF_0z4omltvJ3EIzMzjGB92i_NwH2lyEPVTJkbKXQhMsDr2_apl01JOZps65QNjDgD0wHH=
TemgepZNpBNJQnKwuMWGH7ZnbWLzXTk-5gSEqi-NIRg8xaBOev1MlaWsIgtYXTh-ACQYcZqNfZf=
ugsb4mi2Vyp8YF8ROIMmkcXvLSOgUFvgvXEnXFNXGv9T2n4yMGUpABKjHI2ql8q5g1ZeHuvBjtJ=
9o0nlswXJkneZx6EP3D3XW0E4X0QylE%253D/1/0100018970aadc05-16f0005f-fd68-4cf3-=
821f-e50e34206df5-000000/Py328UMixrHW5EhEOtR3N2gax2aTSFmb1oHmFK1eV18=3D310"=
 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/up-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>Solana</strong></p> <p style=3D"margin:8px 0px;">=
 =C2=A320.32 </p> <p style=3D"margin:0;font-size:12px;"> +20.02% </p> </div=
> </td> </tr> </tbody> </table> </a> </td> <td style=3D"padding-top:20px;">=
 <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2F=
a%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3Debc8e2e8ef21456a87=
dced90a7e36d2b%26_e=3DL7S-9Zn5YSR6zEUASQ_y2BMJZGTPgv7aWplTzaH8u0T9L9oNPqsH-=
N_7ic2VKff0qnveAX8sjw9Mm7viO8TBx2Qxj-_cVyYfZbuc-YUgydXCDZF4Leie4Gw3aGUF-nY7=
-KfEekNG5YEkMa3tkX1oD4aw0bfi9M7BIud6DlGBG0KDT2jkUKX4hvBvK5x70zSsBsD8RBzF538=
jm6FFUTXLkU5BkFMUmYGFgNSBReGjbwO3ZTJcD6_M7jZyJU-H-A2MdVBlPqRdBYzIVu3hzKiIwL=
oP1D84JWYQo2BdpMojsJEPJp_GJSXRAoMvTiLNf6BZZSCqnUNOKQe9Tl709PUMjzAwhRtLDwugy=
VHdAAGymfU%253D/1/0100018970aadc05-16f0005f-fd68-4cf3-821f-e50e34206df5-000=
000/Ym39lmMuDjPdTAL2zTl3NxltcoCLBFtZWEJZm4uKCXo=3D310" target=3D"_blank" st=
yle=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/up-arrow.png" style=3D"height:12px;width:12p=
x;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 style=3D"margin:0;"><stro=
ng>Dogecoin</strong></p> <p style=3D"margin:8px 0px;"> =C2=A30.05 </p> <p s=
tyle=3D"margin:0;font-size:12px;"> +9.02% </p> </div> </td> </tr> </tbody> =
</table> </a> </td> </tr> </tbody> </table> </div><p style=3D"margin: 20px =
0px 0px; line-height: 1.5; word-break: break-word; color: rgb(91, 97, 110);=
 font-size: 12px;">Price changes are for the past week, ending on Jul 20, 2=
023 at 12:15 AM UTC</p><div class=3D"cta_button" style=3D"margin: 24px 0px =
0px; padding: 0px; width: 50%;"><!--[if mso]><table width=3D"100%" cellpadd=
ing=3D"0" cellspacing=3D"0" border=3D"0" style=3D"border-spacing:0;border-c=
ollapse: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-microso=
ft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:office:word" ses:no-track =
href=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e96=
89713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_=
T5eXZt9YNP-xgm0CqOozZwlAcpqII5bf-oM__0K_UV26iJ2ZN9y7sCp1T0byNqW1C5uv8S_B70R=
XH-V_A1gwLGibwCQQBhqAxtWoZkz1IJho16XtH5Tx2lVigDCD18FO82CG8ZPLeIzHGoTepOpwcO=
62BgiVZExyXJceKZqMOneVKahvRLgG-ziHZlkmwwax6F1q_4_IdctBKPqXYfo7l_xGgipzWP0O8=
k4pJ7OrAHL1eNGlmsQsi0nVDqJ7jZcJ2Gp0hGNHCeTNaD_tgmp6etbJM0C0Zn2CLFV8lyp9-KE1=
oNlRc6NQxv_SpKog%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, Helvetica, =
Arial, sans-serif;"><![endif]--><a href=3D"https://links.coinbase.com/a/cli=
ck?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36=
d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_T5eXZt9YNP-xgm0Cru_TU58hjUh_XLQdA6NPbFMz=
JLHuexdl5T_ZHv93_3VcuSzUjaJ830zlr9_BgkURZaIk7xia3lrCVKm7fhQUV8gO1iYRzhKGbSH=
7DqqIWJ-WQB0U-YvcFioinJMRUOr03jKe_9qICFfGfe4AJsU9ZhvWrE1KJ3XdPUtM88Dj5pqiiQ=
ww44YkaKEntqt0v-w7sj75EgtUgxGsBx9pQYglxOiP8dLf6uwh2vYWRdyqbsddCIKom5TqPfWTq=
_8-jXhTBXmIwfaDu5PCHng-wa6aUePLWmaCFgC3CAUpU2clQ1Pg%3D%3D" target=3D"_blank=
" rel=3D"noopener noreferrer" style=3D"display: block; margin: 0px; line-he=
ight: 1.2; font-size: 16px; text-decoration: none; color: rgb(255, 255, 255=
); background-color: rgb(0, 82, 255); border-radius: 30px; text-align: cent=
er; padding: 18px 0px;"><strong>See the latest prices</strong></a><!--[if m=
so]></center></v:textbox></v:roundrect></td></tr></table><![endif]--></div>=
<table width=3D"100%" role=3D"presentation" style=3D"table-layout: fixed; v=
ertical-align: top; border-spacing: 0px; border-collapse: collapse; min-wid=
th: 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-adjust: 100%; padding: 48px 0px;"><table border=
=3D"0" cellpadding=3D"0" cellspacing=3D"0" width=3D"100%" align=3D"center" =
role=3D"presentation" style=3D"table-layout: fixed; vertical-align: top; bo=
rder-spacing: 0px; border-collapse: collapse; border-top: 2px solid rgb(222=
, 224, 226); width: 100%;"><tbody><tr style=3D"vertical-align: top;"><td va=
lign=3D"top" style=3D"word-break: break-word; vertical-align: top; text-siz=
e-adjust: 100%;"><span></span></td></tr></tbody></table></td></tr></tbody><=
/table><div><table style=3D"margin: 0px; padding: 0px;"><tbody><tr><td styl=
e=3D"margin: 0px; padding-right: 11px; vertical-align: middle;"><img src=3D=
"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b=
6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" wi=
dth=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=
 style=3D"margin: 0px; font-size: 16px; letter-spacing: 0.075em;"><strong> =
RIPPLE EFFECT </strong></p></td></tr></tbody></table><p style=3D"margin: 5p=
x 0px 0px; font-size: 32px; line-height: 1.26; word-break: break-word;"><st=
rong>Markets rally after court rules that XRP sold by Ripple via exchanges =
not a security</strong></p></div><p style=3D"margin: 16px 0px 0px; line-hei=
ght: 1.6; word-break: break-word;">Last Thursday, a federal court in New Yo=
rk ruled that certain sales of XRP tokens (which are used on the Ripple pay=
ment network) via exchanges were not securities transactions. In 2020, the =
U.S. Securities and Exchange Commission (SEC) sued Ripple, alleging that it=
 had broken securities laws when it sold XRP.&nbsp;</p><p style=3D"margin: =
16px 0px 0px; line-height: 1.6; word-break: break-word;">Following last wee=
k=E2=80=99s ruling, a wide range of cryptocurrencies rallied =E2=80=94 with=
 BTC breaking $31,000, ETH breaking $2,100, and XRP itself briefly surging =
as much as 96%. Prices settled over the weekend, with BTC down around 5% ov=
er the last five days. Some U.S. exchanges, including Coinbase, also made X=
RP trading available to customers.&nbsp;</p><p style=3D"margin: 16px 0px 0p=
x; line-height: 1.6; word-break: break-word;">Why is this ruling such big n=
ews? We=E2=80=99re breaking it down.</p><p style=3D"margin: 16px 0px 0px; l=
ine-height: 1.6; word-break: break-word;"><strong>What are Ripple and XRP?&=
nbsp;</strong></p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-=
break: break-word;">Ripple Labs is the technology company behind the <a hre=
f=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e96897=
13&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_T5e=
XZt9YNP-xgm0CqvbUboplSDaMkBPHLnK4hTx9TxkRz0HaIhINasOHeb6aTV4f_cmyIhzMrtRNDB=
uMg0GhodMQhurBK-B6jICf0Cao-hvhIBDlLg3dZpVE7gXiuJvpGfFBkhYhZi_3f_jrVQtiUkrF2=
0R9XiyD7QsJmxza_awqT1Ouslvo50aJXyf4ZdUBOiQUNQFZ2pdOD1bM3670DU0vieavIYzmhcjh=
Mf_LNOPar7JLeMgekhAELKLdNri8J-7-NTgv4_-8ZEE9VudpiqKMb4g6KIwQaxYM3M8bQCzk-bV=
WVxfOi34KiMlw%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">XRP bloc=
kchain and token</a>, which launched in 2012 and are designed to work toget=
her as a fast, cheap, and scalable peer-to-peer global payments system. Unl=
ike most cryptocurrencies, XRP is =E2=80=9Cpremined=E2=80=9D and has a maxi=
mum supply of 100 billion tokens.&nbsp;</p><p style=3D"margin: 16px 0px 0px=
; line-height: 1.6; word-break: break-word;"><strong>Why did the SEC say it=
 was suing Ripple, and what were the results of last week=E2=80=99s court r=
uling?</strong></p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word=
-break: break-word;">The SEC <a href=3D"https://links.coinbase.com/u/click?=
_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b=
&_e=3DL7S-9Zn5YSR6zEUASQ_y2CX7WZCOtPuDVPe9FS01NMjvRzc1Y419DjdLImG9-35NpOC_1=
z3-3TlsqByT-81z5tOcoOLf8IyGHcMc_pM8jsMwqKIUoPXTJBs1-_MfR4ng5-2Yae2XROR5vDIB=
1KAWJVnPxsC4GAvrk_JDUy1akSmX70MI0VQZlSroVMamnc-GGLmvLHXubJiSzh6E-UBG2w9-lY8=
yIb1JA6kxs-fZMi5zbF5CxfWMHvqDbsUlNcDlSRecAyqlLiF3xZ8BxRA6NSjj7ey1euqeUCOUCU=
SEVzv1CQIuOaIPg6LTt5QBGNqNwzy_bk6tVX9nZR_3XBd4CoppazNhbtA6tzrBLGN98ek%3D" t=
arget=3D"_blank" rel=3D"noopener noreferrer">claimed</a> that XRP is a secu=
rity and that beginning in 2013, Ripple=E2=80=99s sales of XRP tokens const=
ituted an unregistered securities offering.&nbsp;</p><p style=3D"margin: 16=
px 0px 0px; line-height: 1.6; word-break: break-word;">In her decision, U.S=
. District Judge Analisa Torres <a href=3D"https://links.coinbase.com/u/cli=
ck?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36=
d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2OXGxH0JhxqgqsSh3I8MLzLGPLfTDrPYsQUm0vauQKUTyS=
AVcCiroRFtBQSyyHhzrlae7mJvVCMhDjfKfylcCooyTH42ZcNpL5YsLQmqoMBeCY_MgZD3iyCkM=
EwKUwpE-ADV5qgJ5j8zORXhA1XNdqjRd7CO9xBmQhOpbDE4Nz3j-VCPXeVlhr78VumTBIvQG6fH=
xqaDe1Py-A4tL1etjrhRgXNafP1sQWqbG5XRv6DprRgEzRiJrf2ciROZbUs8rV1S9ZliJ-G6BA8=
tPD5GWBLOElo4fg2J0pStLLI0Pte8n9w5Qe-PcTtPWfs_VIH-PusM72nzV2ER3DNJ1sjIGpf7Rf=
K7kCaIlguGboncu8cQ3hepcLdH03Na54uMT45UhlC18QmUhs5SahK77cutCRhSst92ZYNQu_eE6=
zucO-ELSjSw_Ua63_auMGMLv8UWxA%3D%3D" target=3D"_blank" rel=3D"noopener nore=
ferrer">ruled</a> that XRP itself is not a security. The court then moved t=
o the issue of whether transactions involving XRP could be considered secur=
ities transactions. Judge Torres ruled that certain XRP sold to hedge funds=
 and other institutional purchasers amounted to securities transactions.</p=
><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-word=
;">But importantly, Judge Torres also ruled that the XRP at issue sold thro=
ugh exchanges were <i>not</i> securities transactions.</p><p style=3D"margi=
n: 16px 0px 0px; line-height: 1.6; word-break: break-word;"><strong>What di=
stinction did the judge make between programmatic transactions on exchanges=
 and Ripple=E2=80=99s sales to institutional investors?</strong></p><p styl=
e=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;">The j=
udge=E2=80=99s opinion is lengthy. According to <a href=3D"https://links.co=
inbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef214=
56a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2LqbPKvAUcI6paj5ulT_73BJYeiXWs=
vhVu790ruI5B2GK2awf86BODhigOhpMQsrmBgLf8HxHw0yAiLbgT3eHjxJ6P7kSsU3uCqAVp-zU=
4EwJXji2ZBYyYz_alVIOsD8qJr8TRzpIQy-N6I8vJ-kK5REKaCluUEWTPt7clr7nGS6HpTkEhlW=
57pYxAVVdteNVNZPpdpPrDcvbVFUkM6B9czbjtVEkn9n3It-R-n0LY5grZhLxGAbNuXGkPFU6Cc=
G1VDDhHdlSgjjs2QJ95a8p8CozAUux7R2F0vjUFV8Nxmel0Ct84mQWSD954PPRbdGuCybdIvQqM=
HLQvREaIa4GLiO_5Bn7jP29ON6I_-0RMtroQVOIN0L8LMc3qllYIi71Nqom9Z_OXgxZiZ0abufp=
IwR_eWE0l_9Zdm7RgrGEC5e" target=3D"_blank" rel=3D"noopener noreferrer">Reut=
ers</a>, as part of the opinion, =E2=80=9CTorres ruled that Ripple's XRP sa=
les on public cryptocurrency exchanges were not offers of securities under =
the law, because purchasers did not have a reasonable expectation of profit=
 tied to Ripple's efforts.=E2=80=9D&nbsp;</p><p style=3D"margin: 16px 0px 0=
px; line-height: 1.6; word-break: break-word;">In contrast, the court ruled=
 that Ripple=E2=80=99s =E2=80=9Cmarketing aimed at institutional investors =
made [it] clear the company =E2=80=98was pitching a speculative value propo=
sition for XRP=E2=80=99=E2=80=9D.&nbsp;</p><p style=3D"margin: 16px 0px 0px=
; line-height: 1.6; word-break: break-word;"><strong>How did markets respon=
d?&nbsp;</strong></p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; wo=
rd-break: break-word;">A wide range of cryptocurrencies rallied on the news=
, with XRP itself spiking as much as 96%. Some U.S. exchanges, including <a=
 href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9=
689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2ISLd=
Iv4LfR0bo9L9kheFagqagTDK-tysJY0AVnY5zHQzEEO9b1GHnzdeA7uJt9pI6-mqSJKMpyC6x_0=
MpG4UFjBF8P26nkOduRU13dAdGx2QPZX60beDCM7BxhQNllkBgwOzDd0bhyRopuhWl_p4H6tdua=
QJV59j7O8MVi9yBPBd7v4tHeicalJoqdsjD2WOz8MtMAOaeKdh3iNmrQ3DpWEnoXdyi1HihAZTu=
CaOtZVs1Gt6ZPn92Crt7FA36ucTKjj8vJe0SlJ2T43yj_LYARa60OyMVyOPaelPqegttw1cOPdp=
U956C4Qc5K6PVz-nHq5nQqwT-FUB02bcpF4L7Amcrc49QMgsENaQxxV05gK" target=3D"_bla=
nk" rel=3D"noopener noreferrer">Coinbase</a>, made XRP trading available to=
 customers. <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967=
418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR=
6zEUASQ_y2JDNVCfv6FysKJm0Yi5zxkx88K8_Q5YnHUBFgeukf2T-ynwOpLlrIWCFzQsATz-lmp=
xou4ywt_Sc1J6vG5MeSL4_RcEUqxCkaGNJOT5bAELcotP8LJwd4Xumd2uts_UJMKcJyRQ3sOugB=
_zMGDtYjgLxKugfKlXlbPZooldwPSuFdKp4xUCvlybUkPfjb9fVjPmMJPA9fuKN86ArS_DrkN3q=
cvQJu98vZ96MVIZJ4BHwvnST0nkgNfJnc3qA_OBddt9UVozzh6FNOKD3KGbOJuqmiPRO4cG4-Z5=
wV-IbYRByMbVv51_PzTam2cYAL7sI2n4eRMT7czYnfUDqSJLSG4h4U7SFi9k8ikTKwQfvs3QhNk=
skK2wsM0kx-4y9C85d5NK_Z3scnDIgFYlDDTjyteE%3D" target=3D"_blank" rel=3D"noop=
ener noreferrer">Speaking to CNBC</a>, Coinbase Chief Legal Officer Paul Gr=
ewal said, =E2=80=9CFor exchanges, for tokens that are listed on exchanges,=
 for regular investors, there=E2=80=99s no question that this ruling strike=
s a blow to the idea that somehow securities are being traded when people g=
o onto exchanges and trade the assets.=E2=80=9D&nbsp;</p><p style=3D"margin=
: 16px 0px 0px; line-height: 1.6; word-break: break-word;"><strong>Will the=
 SEC appeal the decision?</strong></p><p style=3D"margin: 16px 0px 0px; lin=
e-height: 1.6; word-break: break-word;">The order remains subject to appeal=
, although the timing of an appeal is uncertain. Ripple=E2=80=99s chief leg=
al officer <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563719674=
18192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6=
zEUASQ_y2LqbPKvAUcI6paj5ulT_73CTgJ92qz5T07tXfxiAsL3oxXZDiOV-a8ahL-jzYCWyLPd=
4VTw7mmOojLUOMwd5QZISDKidkkGoAFlboJebyvlcGNIpd7XKb0pzqE7LeAAssEV-CMPx2eTWjm=
3EjTg0Snb2HywIL2XDTzWbiwM3zwDHSzUvCNXAWoYDGqqpAg19WorVOTTdFluJKQ2Za190kkLBu=
3pN_F_uSYWkq-lKBHxNO7Kaz7ISz-sesVdxXmGoMIAwpswPH5ylucOxYbftcbBxS6WtF1_Bna7W=
lV9Bn5EKS5gjkBLFWjb2tq4iaQyAnorNq6MQeD2dZd1DLTjet8cnYuQGO4LyamMpGiPFXDuOxyU=
Az3r3n0GnuohmNyu2dY_e8FwbyOd9NjNh4E9HMBecBRig9jlzMDR2KU2sRu5x" target=3D"_b=
lank" rel=3D"noopener noreferrer">told Reuters</a> that the company =E2=80=
=9Cwouldn't shy away from an appeal, because the judge was right on her cor=
e findings. I believe any appellate court looking at this would amplify and=
 endorse those rulings, which would certainly be welcome.=E2=80=9D&nbsp;</p=
><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-word=
;"><strong>The bottom line=E2=80=A6</strong></p><p style=3D"margin: 16px 0p=
x 0px; line-height: 1.6; word-break: break-word;">Over the last year, crypt=
o markets have been burdened by <a href=3D"https://links.coinbase.com/a/cli=
ck?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36=
d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_T5eXZt9YNP-xgm0Co_kYKBzo0ugHdqepPvCsKz7Y=
6Kx_zF6vjDX9eZRZbuLsNc6puyEjxuYSz9NtZB-SPtVlVeJxL_K4syL2my-ISP-79SPcv3gj2xW=
3XUDbbQYbmenAeKxDwZb3q4d13A6-kZeeIP7GdcVqeL6AE6nrz1Nvzl3TC_AN4LyfubOhs812uS=
7dKQipKtF1UnUQI2-q7sSEVGuy2Yew5t19N6jf0Ala3mZgICLEz-OvWY_ZLZkZ-BI188Aehcrkb=
dUp79n7bcfpiH2Zc1G0rLDlrWmQcU1tumz4EYRnz9HWlPsIR8AJdzOMnXs0EYE5MFalEUwQdziT=
dlSVNaFDUu2esQX7cCwyW0-tj7AFdPf8yH0PQ0GcZABhJkS3NLpe7z6gzlzEU%3D" target=3D=
"_blank" rel=3D"noopener noreferrer">regulatory uncertainty in the U.S</a>.=
 The court=E2=80=99s ruling could serve as a step toward clarifying U.S. re=
gulations =E2=80=94&nbsp;with a variety of lawmakers and analysts weighing =
in on possible outcomes.&nbsp;</p><p style=3D"margin: 16px 0px 0px; line-he=
ight: 1.6; word-break: break-word;">Congressman Ritchie Torres (D-NY) penne=
d a <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637196741819225=
5878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_=
y2Em-n0YenEDcmWaDPY4jnmQjkwWKmZIn0VNr76nV336D2LvFn2bPtBPo453_O05h_t3RYL_Mr-=
yXs7VLS-eDS5DN2TVxiQ-OHOucDd1tO0VvNnmaH7uSmvHkSLda0lOqYdHR7rEAyJL-ggQF8eTY7=
jpbwaSPjrD7-EwD2MXqBBd59AGd1M7nob3xG3WFw8ksK8gZ9GzwSZ2L0KTF1Pu-cOl5Xy_i7YWo=
4Yy5ElPaRfPlwGrQV-GKLYwFSqhAN_nC1mYC0Aw5dWysdrREuxVcKq0vv4VeIB65eRTeurL0lja=
qj8hAyRgQ-jIY7uzicHX1_CgUEDCta-9zRUxFd5b1zRleYkqJ7a40mWe8BUD1WIUsIuzis7mmuU=
YfL8shyB994w%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">letter</a=
> to the SEC and <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563=
71967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Z=
n5YSR6zEUASQ_y2CFaGFMXinmqj9SI5qoU0UdAX4XY-pEcdXsRt8qKHVCmnwpQ-_mAJHI-lZ3KM=
-eCV6VHA2PHUAxRjYApsjjAbvWhJJVfd31ySq8aQ4RGrokXMFrYBNynybo61VW668qPhp-6fNqq=
2KYdX4Fx5PslCggzCJ7s15KdDCuFhgahukro5FCj2ndZMH-luHSUJWImKR8vbj8KS8vY2HRNlSK=
XjiwE9IiZAnWHMcUTGRrvLPk47vOtOSQgQT6y_I1lTAMoCxccmBgcwadEZIOnmTn3rRk0SKjypN=
1a1h1PTFDv2etWNhgv7oPmUZpWq1Y4wwvAztDxrPIodK7pNFfdTa1PrKk%3D" target=3D"_bl=
ank" rel=3D"noopener noreferrer">urged</a> the agency to =E2=80=9Creassess =
its reckless regulatory assault on the crypto industry,=E2=80=9D while majo=
rity whip Tom Emmer (R-IN) <a href=3D"https://links.coinbase.com/u/click?_t=
=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_=
e=3DL7S-9Zn5YSR6zEUASQ_y2CQWXm9dvzHDg2_SA6jfnIGoq1k7GcGjkjP5YZPrSmn-mDFdRK_=
0oDwTA3CiCxLKBJUomn1tSAjVE-YW5hy9WC2BgGnb7uwHt-tfkrQNvL6bXAzRvgKFlydEzKbJYT=
2Vye6-rmfuPi58-LeLoCxYgA9pGeRRbnYysVGOv99f1JT0MpJJuqxwVkXnL8iB8y2nHffIx8YX5=
fCKGoRL36XIzjxRHqpYKxZoMOEe4PQat9sV5f2bqlzNAmj8kJWrRWLsnXrBwNziBg_2JRihmuI2=
tw1pzVD_N0s5B1YODn6d_opGobLX7Bj6z97kxZGG9P9sHKyloAmc8btH0CMRmmTSeCM590u0Nwx=
93Z0EMPhNDUcZ" target=3D"_blank" rel=3D"noopener noreferrer">tweeted</a> th=
at "a token is separate and distinct from an investment contract it may or =
may not be part of. Now, let=E2=80=99s make it law.=E2=80=9D</p><p style=3D=
"margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;">Justin Sl=
aughter, a former SEC official who is now policy director at venture capita=
l firm Paradigm, <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563=
71967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Z=
n5YSR6zEUASQ_y2HrSKmM9R91yXxUf97a1J7WrZLVTrjIVmBOnWh4JoWM163BWeehCYve6Sb89e=
CAhTUovLXAjQQX6UkaQVKQOm0f3MPQAHx_d88FamOb651y92YAvYXO06rAHae9Ey05_3R7o5gQo=
li6eKw1TV1599mUimPau9dX_dv6cK-GiW3MwNzc53vAGsmkGqaTKRmBOp1Jl2xzDXS1bYPp_bBs=
1WjjOgsIiAHg3XPBFvI8DZ0lWj88yDvGs9qWOX1kPhNLKOv32ernw4CtJbaMGS2ATN-WMbu_dbX=
MDO72GaFOBDkyO-icKJKoSTpDETl_ltznHd3C0-g4KFikL5ZccaceslGhVhRxzNxufLcnEwSxNn=
xH7oohh0l8jbB2pv7-YxV7BQ-PGeRWjklfzm3ac1rOkGjJkC828o0C8U05xILcQdHaX" target=
=3D"_blank" rel=3D"noopener noreferrer">noted</a>, =E2=80=9CWhat Ripple did=
 is mark the end of a stage in crypto [of] this idea that the SEC could by =
itself resolve the hard questions of crypto.=E2=80=9D&nbsp;</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" ses:no-track href=3D"https://links.coinbase.com=
/u/click?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced9=
0a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2EnZTyGS3h1mDuaKQKMwNHSCygB_z0NQW_lICmOX=
sKmoZ6QE74JqK6ii9CBRrwOfg_sBwqAeyInUUcNtNdbO58wCnX9Ba5W3bdCtl3ZOPaV2H71LLJo=
EQLeetF1n3-YELknGMLM3jWqOo0ZrJTn9Wvh1PR4oRDi5H2MDLMjOzoiThA95h6o-lox2UmJ1Dx=
0XE5zLfxB_tkwz8-Iam6vgkUuJwximjM9DUB_IWfYCITbUDGYhDgsHf7lo7YDtyPgQ_igZ66mlA=
i43gs6G7Cfu4T0SK2hTt39IDjksoQ74s8T5aZmbXNlJMaJeHJXv1Um4NwTWAM5xxTefGYCufFrT=
Ack%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, Helvetica, Arial, sans-ser=
if;"><![endif]--><a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563=
71967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Z=
n5YSR6zEUASQ_y2EnZTyGS3h1mDuaKQKMwNHSCygB_z0NQW_lICmOXsKmoZ6QE74JqK6ii9CBRr=
wOfg_sBwqAeyInUUcNtNdbO58wCnX9Ba5W3bdCtl3ZOPaV2H71LLJoEQLeetF1n3-YELknGMLM3=
jWqOo0ZrJTn9Wvh1PR4oRDi5H2MDLMjOzoiT7f2bPvrbdwWw23QZ6aT-n0WDF4aKuOX1NTLJXc9=
arMKX5jdy5f5ptpz_8a1jZLQaLRWvxNtTsn5KKVDD_IEWE1S4Bd2xZhYvzdpEn9XGTmYenc9wuv=
9lfLWDDAvwVRudiyuE_8CZrb6Z4wSDMqAKSdEyJ9piuAR7pNzF6hRWRbU%3D" target=3D"_bl=
ank" rel=3D"noopener noreferrer" style=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: 30px; text-align: c=
enter; padding: 18px 0px;"><strong>Learn more about the XRP ruling</strong>=
</a><!--[if mso]></center></v:textbox></v:roundrect></td></tr></table><![en=
dif]--></div><a href=3D"https://links.coinbase.com/a/click?_t=3D3aca5637196=
7418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YS=
R6zEUASQ_y2DC9B_T5eXZt9YNP-xgm0CoVC9O9N0ldqtCQFfXBN_2gTiZk1sLHfqnPwt2yvWYBd=
pRY6Lmr_LXT-HKK8ZmF0VdPDzQWplXYezHz28FhKHDb0IR4hwqxJH1f8e0x7aI6A30NZ3VgOgO_=
RYlxlJtEIT98RdM8ovYZHmiSP8qsmO77VIuCRNGbS19YNefeW-TDFQ04vJzAdfnoQmOc_Cg4VEG=
06tokA8qi6k5kajLW__RhfrMmkaPA_yTrDrHGQQrdCF2t1ikOrAVxdz7Lr5FMONBT3wkhClSVq1=
Cw0dG_1Yt71kMfuiaSoOeXbiNXDqWB7Q%3D%3D" target=3D"_blank" rel=3D"noopener n=
oreferrer"><!--[if !mso]><!-- --><div class=3D"desktop_hide" style=3D"displ=
ay: none; max-height: 0px; overflow: hidden;"><img src=3D"https://images.ct=
fassets.net/q5ulk4bp65r7/4SMgNFv6uD1SBBmXQ4ubhW/9a5651782a0eb04408f478a8a56=
45089/coinbase_getpaidtolearn_bytes_650x488px.jpg" width=3D"100%" style=3D"=
display: block; width: 100%; margin: 64px 0px;"></div><!--<![endif]--><div =
class=3D"mobile_hide"><img src=3D"https://images.ctfassets.net/q5ulk4bp65r7=
/4TOHHt4CjhC3DiUK3UdmYs/e216c453cd8f2522b5e633c3d2f4722d/coinbase_getpaidto=
learn_bytes_1060x408px.jpg" width=3D"100%" style=3D"display: block; width: =
100%; margin: 64px 0px;"></div></a><div><table style=3D"margin: 0px; paddin=
g: 0px;"><tbody><tr><td style=3D"margin: 0px; padding-right: 11px; vertical=
-align: middle;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/u=
sers/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255=
878e9689713/dot-1.5x.png" width=3D"12" height=3D"12" style=3D"display: bloc=
k; width: 12px; height: 12px;"></td><td style=3D"margin: 0px; padding: 0px;=
 vertical-align: middle;"><p style=3D"margin: 0px; font-size: 16px; letter-=
spacing: 0.075em;"><strong> TAKES </strong></p></td></tr></tbody></table><p=
 style=3D"margin: 5px 0px 0px; font-size: 32px; line-height: 1.26; word-bre=
ak: break-word;"><strong>BlackRock CEO Larry Fink talks crypto=E2=80=99s fu=
ture, Sen. Cynthia Lummis shares updates to bipartisan crypto bill</strong>=
</p></div><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: b=
reak-word;"><strong>What Fink thinks=E2=80=A6</strong> Larry Fink, the CEO =
of $9.5 trillion asset manager BlackRock, <a href=3D"https://links.coinbase=
.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87d=
ced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2Ki6GldN9utPy4nOVPwOc8jhXxDBnkhrJnHx=
fJ3ttuTsoSxYkWvEbwkBeIdnlqQpGF4TJy66eQ34XJ36re4dOwhkfx_VnMIiO2Z0dPPmMMy7xe1=
NfmrnR22y-mCE5xMgEOautaY3TGU3UdFKiBF1c5bkn61d3pKAxYVxOUZL5edPwHUmxoheNdN2pK=
DsUqKm5gROq-Gh2e0xU8QledHQ3OBTzR5ohtJ9nBEdMbu-lLl0VTb708XAcoqbpm1pWm3CsQ29s=
t1foKBFUW3NyXkrcP0N0NXgf8Ct4lSRBBG-VYrIbDVXf2R6hQJIOvuzPu9l6PUd628qmLi2bkVX=
_r6xB5S5OTAVPD5_QTRGeEpoDhvNcXWb5s97HfhtrJmbOfK-BQ%3D%3D" target=3D"_blank"=
 rel=3D"noopener noreferrer">joined CNBC</a> last Friday to discuss his evo=
lving view on cryptocurrency. =E2=80=9CI do think a lot of crypto is an int=
ernational asset =E2=80=A6 because it=E2=80=99s so international, it=E2=80=
=99s going to transcend any one currency in currency valuation.=E2=80=9D La=
st month, BlackRock applied to the SEC for a spot BTC ETF, kickstarting a W=
all Street-aided crypto rally.</p><p style=3D"margin: 16px 0px 0px; line-he=
ight: 1.6; word-break: break-word;"><strong>Take two...</strong> Senators C=
ynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-NY) recently <a href=3D"ht=
tps://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=
=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2J4naG9bTK9fD_=
hDbsrgTm67LsPcpv4sLBc9tk5WJYQ2dZI-GhGTbIrt752egwzPj7YLHvXtqLLS7JGrQ2KQ7z_3T=
jzaaRIC8YHqmejfTyQmgPPZfQVIrCxZQCqbeNnqKdDEXasdTOI_vSO9-pMdIJsM2uoc75gsOTkc=
-NpJGAIEfdXHQSNxaZ_OMDrzD2DrG_TsoI7cdjE-XjYEqEhsuSiYHHJS8dWwNkOO9GdG_trD-qG=
4gKLjB5r1ST5PCYHhJIKNAuLNIBaO2ahZ7hR02kzziq26uTeDMOsH2dy-P-e0YDZ23sc72EuVVZ=
EBQhSm7Dfsn_s4R1G0SIsIbOqfeu0YpdfP2Y2zfGhj739BAR7GklCyrJDCNUTAYD_l5a9xDyZLt=
sWi5sKUBRHTVTD4qBMVXft0aveKL88McK143W8-ooASjDVcD5Z_DVbhNCiPuLcIewisEaj0xl7a=
ihjuAG4_iQomzbvjKRon7VRNHfuK" target=3D"_blank" rel=3D"noopener noreferrer"=
>unveiled</a> an updated version of their bipartisan Responsible Financial =
Innovation Act, which seeks to clarify key regulatory questions. So what=E2=
=80=99s in the rebooted bill? Lummis <a href=3D"https://links.coinbase.com/=
u/click?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90=
a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2HUwh-Ytpt-faroYM5_RWlsv-qUyECq7kAtWVurB5=
U9yOB99pzVoq0DbtWep7XNFM19JKEW9TQSRDSOkFXx1yAA-y3QCPDK90RcQPqKR6UV4DzQP4X3i=
oxzAoAz5xmZnnLlIg01sTHMfzzgaaCd90440IHfmWQ-1h2XqWWqgdwBD35Q90Yoh-p9DBiik0WR=
s8FWbfrgWNiSQ7onRASCFs--m9lfKlqtAPuV29QP2cXo64thSUw40Z0ZlLkZTEWJUT9II-wXAkJ=
5cXfkH0JUwRG6BkXxzY9A2t5hkZ0z4tXFtxzB0XrB1GBvYU1BOMYUiuMaXqthC44DEi7KuQ7q4s=
Dk%3D" target=3D"_blank" rel=3D"noopener noreferrer">tweeted</a>, =E2=80=9C=
Consumer protection is heavily prioritized and criminal activity is cracked=
 down on while a strong regulatory foundation for the crypto asset industry=
 in America is solidified for the long haul.=E2=80=9D</p><div class=3D"cta_=
button" style=3D"margin: 24px 0px 0px; padding: 0px; width: 50%;"><!--[if m=
so]><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:roundre=
ct xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microso=
ft-com:office:word" ses:no-track href=3D"https://links.coinbase.com/a/click=
?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2=
b&_e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_T5eXZt9YNP-xgm0CqXNNOxoA7iHsi-O89plSqZ8veQ=
mOCS8zja3oj3MP_FunIzHC9uhcVw4MwT6ymHMG6WInBa9qnbadDQKp3QU79SUgLcYQzPQLaqmoz=
GzL3knFG5K2Y6pzXgyQXQbwv1JzFJ9hX7wZUa4r6OQmpFvAsSGkKQYyG_6kJDKngtKUwACuqVW7=
9kTrphDXoSrEe9FVcThxHp3VBSTz85BhruR5By4yRL8z_fgbDzcWvt34YGDnoetfwiGpr6ZhIyJ=
oQI7PYzy2ntpwJgfMZAkYxR3HO6NRHLh29ABOj5vR5MFIIMk7Y9ydd-hma--ILHtjQVxBNlh7ma=
7fbnA6s9ucrd1XMx" 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/a/click?_t=
=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_=
e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_T5eXZt9YNP-xgm0CqXNNOxoA7iHsi-O89plSqZ8veQmOC=
S8zja3oj3MP_FunIzHC9uhcVw4MwT6ymHMG6WInBa9qnbadDQKp3QU79SUgLcYQzPQLaqmozGzL=
3knFG5K2Y6pzXgyQXQbwv1JzFJ9hX7wZUa4r6OQmpFvAsSj-XlNcSsFtBi0JuqmMsVp8tMz_5q-=
9lvBPNUdGXO60yssHK9-zu964dopebSNNbM5NTXMD68k4LYYXqMBHBBzaZMHh8sAUmGyzqmWmnA=
V9yRcWXl8SAWxY1SNgFr34EaxeZbC5F00vkG4C4yAlq2535wn3TvuvP0P8aJzx06eP__yrLfmXk=
FMudMr68RRJKE" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"displ=
ay: 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: 30px; text-align: center; padding: 18px 0px;"><strong>Read up on c=
rypto advocacy</strong></a><!--[if mso]></center></v:textbox></v:roundrect>=
</td></tr></table><![endif]--></div><table width=3D"100%" role=3D"presentat=
ion" style=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px=
; border-collapse: collapse; min-width: 100%; text-size-adjust: 100%;"><tbo=
dy><tr style=3D"vertical-align: top;"><td valign=3D"top" style=3D"word-brea=
k: break-word; vertical-align: top; min-width: 100%; text-size-adjust: 100%=
; padding: 48px 0px;"><table border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0" width=3D"100%" align=3D"center" role=3D"presentation" style=3D"table-lay=
out: fixed; vertical-align: top; border-spacing: 0px; border-collapse: coll=
apse; border-top: 2px solid rgb(222, 224, 226); width: 100%;"><tbody><tr st=
yle=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><div style=3D"margin-bottom: 16px=
;"><table style=3D"margin: 0px; padding: 0px;"><tbody><tr><td style=3D"marg=
in: 0px; padding-right: 11px; vertical-align: middle;"><img src=3D"https://=
d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-b=
d7e-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 style=3D=
"margin: 0px; font-size: 16px; letter-spacing: 0.075em;"><strong> NUMBERS T=
O KNOW </strong></p></td></tr></tbody></table></div><p style=3D"margin: 16p=
x 0px 0px; font-size: 32px;"><strong>$742 million</strong></p><p style=3D"m=
argin: 4px 0px 0px; line-height: 1.6; word-break: break-word;">Total inflow=
s into digital-asset funds over the last four weeks, according to a new rep=
ort from <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418=
192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zE=
UASQ_y2LgfSWtGU4DFCLUvrOlH5DEABS7AEiyep0yypyPJerP9CnK3nVc60etzZPn0-V0ULrEPZ=
3OC2xImCHw-j_6VnuUoxgxj5KIhV2xsRxm5MDgQ53w-tHCJqHV2RpS9WYE-NR72ypUkwNeCpEPs=
RN3EevIoNbdFkm5GIa95htG6bf9pMIydxnjuKliby2HPXvJmKTh7tDWC5WvRWFTeR_hvz-W539N=
zax_k6LwflEKyNpmpTE492LXYNnlUFFGYKzifyXqiXqKISN0c8i4sehRiGWS3sgbnSP0LcJsQM_=
V13aIyfVsD_ZRqZbYn2fBEXuSPytmftLdxmv0IoP3bMiI_7f40qjYt6P-OZbFPF71_ol0kzk5sX=
lHWcsxjFZupTiVvkw%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">Coin=
Shares</a> =E2=80=94 the =E2=80=9Clargest run=E2=80=9D since the final quar=
ter of 2021.&nbsp;</p><p style=3D"margin: 16px 0px 0px; font-size: 32px;"><=
strong>$6 million</strong></p><p style=3D"margin: 4px 0px 0px; line-height:=
 1.6; word-break: break-word;">Seed funding raised by Portugal-based startu=
p Ethena, which aims to develop a fully collateralized <a href=3D"https://l=
inks.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2=
e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_T5eXZt9YNP-xgm0Cr=
E_asBv8oBerRnaFTes6d9CBKCKpUW1spS-Pk7RxFtPowO3ZUZSspnxE3Ly5PI9vsOpNb-wP3veP=
yCHxf0Z9OdyP11yJrOhclAr3h7fxwHFIgv5PwuscNUBHdyRGy_IhWwFiv9-zDQ_Ictm-kGSeP6z=
fXVc80FC24qeFxee-U0D2wuR767zsFOmIfvpKj_kb6AXhpp8jDXcYlsRSSA6BfBrAZusSCGmGGC=
_580N2LHBM2IS0LumMR4wfOhw0l4S9tXcZ-2970vfbsJXnRQw_5U0rVaU7ibXCiwk-I4qydaLJc=
YvmmQQXN98OhySy5oVVreHAch42SWhqfBqNNbcj61fhO1KVwGJJXdTXGR7gQKBz7qo3AkwNUyVZ=
Dsb77RFpSBAhA-gVbZkSH1zB8RT11_AR-QR5I8UvlHu6cyt_2LWw%3D%3D" target=3D"_blan=
k" rel=3D"noopener noreferrer">stablecoin</a> backed by derivatives and a d=
igitally native savings bond on top of that stablecoin. The bond, per <a hr=
ef=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689=
713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2OXGxH0J=
hxqgqsSh3I8MLzIhOn6vbr1w9w6_GYxOuT4d8f0UQ1SP0y1Ix2VCIcNRVnFv6NaOUSPhA07B-6C=
4vBjl2bSMJv3ja57d5tYHH7MvRE3mJMXJDf5IBKi6KoCsPQ5CasrPMZOVpMEamddnxWXLYq19WV=
IKUFfSkkNgjHFb0edIlIzgTfzCxgVeayPPN8sObpB7y25PPSnrhmCN8t3L-grOKUi-LkyZYkuVW=
S7qz4WgvSO0C_Se9cJtZmDooUXRHrtydqC1gsU2lmR18VYaH3AgAXv7QgZo-88x32EXgualtpxd=
464koRXJIukBORc_i9JVxrhBCHXr5DkQBtr7rTt9SQkOp8CVHzacIC-MnZGnGwVqR9kBSsQruMc=
Ne-AUh0ugdzkWS6aHU7SCGy6crHMaRCs-uNQwhFFCYRaV" target=3D"_blank" rel=3D"noo=
pener noreferrer">CoinDesk</a>, =E2=80=9Cfunctions in a similar way to as a=
 U.S. Treasury but without the ties to a government or centralized banking =
institution.=E2=80=9D Crypto-focused VC firm Dragonfly led the fundraise.</=
p><p style=3D"margin: 16px 0px 0px; font-size: 32px;"><strong>647,000</stro=
ng></p><p style=3D"margin: 4px 0px 0px; line-height: 1.6; word-break: break=
-word;">Amount of <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca56=
371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9=
Zn5YSR6zEUASQ_y2DC9B_T5eXZt9YNP-xgm0CoFRyqKNYIdzq30QFAyKz0Npv8XCVKESYX9ffUc=
NmkIQSouhgST-ZJnELuW1lbUtz05I0XftHILjVgZ2msdVVKMDsR4JJ65hsUtFZh-Q0E6g1tud8r=
RcFZc0dsOwRcjOKlSrc9MsyZcJ6kWU32XxD6gNtF2jjgvFbkff1viaHJku2MhSk-8SiHT9LRaMD=
MZNq2JrfPF94RcBHRu_kk_2kIb6SRliwrX13MJzMtD5IEgEokZL4FuMV_9iOY-NZSFhNtuv3nTu=
UsvV_CxNQ2SnOo98lgycym28L4yTCS2z2jLI_6k-fqYAAJ58nAiQXhDQfGoGJeek2_acn6YKH3d=
QBQyg67gqcigJHveEADnOk6877QH5oLVOmrwTYATlHNlzAV4etCuELcJ-3DAdZgVQDygI5TR7XH=
lNnwEgvSW0e1JwA%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">Bitcoi=
n Ordinals</a> that were <a href=3D"https://links.coinbase.com/u/click?_t=
=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_=
e=3DL7S-9Zn5YSR6zEUASQ_y2JZVAgmycVMgZbcIz6ObHtmJhxyYHHsfe4BOZXqw9gYj4wAgdqN=
czzcLSTPQPgyoNy9PO_kGp4GF43xzAbX52UJF8ms04VmWmq4tXMy0qsp46wM5upFp0sPq_PDg72=
MXWkFaFOjFSCbohf4zXLYIuKS-DZYm0BwyaBhz4egu4IcXnl3-rLWJOqD66cABECa5cuevGvGXz=
AiUljnPc_F3jO7G5b-9WL5hwUdQbqoM0TYtf15ySEZtiWTHGAh1KfG_mWzR7VJSPXUl5rrzXHlD=
bl-ehO60iS9cV1h9n6M7rKU4xmonzn0rXsoPQMtnFOBb50XCWX7LycilSJk4FXcf9Lq3rpmmdxN=
rYrKQrKlpm-w5EwSvcDAB8LxRozqAFDEz5PbG9YyKQ2gSCQOu1bc6y44%3D" target=3D"_bla=
nk" rel=3D"noopener noreferrer">added</a> to Bitcoin=E2=80=99s blockchain t=
his weekend. Sunday was the third-highest volume day for Ordinals (with rou=
ghly 386,000) since they were introduced in January. Ordinals are essential=
ly NFTs for the Bitcoin blockchain =E2=80=94 users can =E2=80=9Cinscribe=E2=
=80=9D audiovisual, text, and other data onto a single satoshi, which is th=
e lowest denomination of BTC, similar to a penny vs a dollar.</p><p style=
=3D"margin: 16px 0px 0px; font-size: 32px;"><strong>501,440</strong></p><p =
style=3D"margin: 4px 0px 0px; line-height: 1.6; word-break: break-word;">Se=
ven-day moving average of new unique addresses on the Bitcoin network last =
Wednesday =E2=80=94 the highest level since May 2021, according to <a href=
=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e968971=
3&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2JZVAgmycV=
MgZbcIz6ObHtmqjKk427mEb5Q1nfvs1FUL_jCfePFz_rF2i78NXIgEQ_FEdnm_DTwybVgH-6FNC=
jVcLpLEZvmvl1AKIHy750U-i1HCh6JZo2nBU0Rgn4rbOKCyHsicNrGOt1BcclEqgmC-pwCq1XPC=
D4gC8b2FspJ7GLoDroLbJVZFzRqMLj0xN7mlQf2i0TDQJOPuwFcPyWtzienRNVK_3hclDuGRxYd=
pRN3zku4u2CqL6AL6CQbBOsQX6lYroBeIMsZeRxaGwRsUKNpJA9YzBfpDy4mFQCdcGV0E2F1C4x=
la2ZJEw120VWp7nss0uHA6u_bxpPOleezY0_N9UEOVGUpIdY639RU9" target=3D"_blank" r=
el=3D"noopener noreferrer">The Block</a>. The jump in new addresses coincid=
ed with bitcoin=E2=80=99s roughly 20% rally over last month.</p><p style=3D=
"margin: 16px 0px 0px; font-size: 32px;"><strong>65%</strong></p><p style=
=3D"margin: 4px 0px 0px; line-height: 1.6; word-break: break-word;">Percent=
age of survey respondents that reported their crypto holdings =E2=80=9Crepr=
esented a long-term investment,=E2=80=9D in a new <a href=3D"https://links.=
coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef2=
1456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2O1qGwiGh8f0k2qdd_wwde48L5d1=
iOY6MsjlQdnlFl4qAir9H_Z9rRLuYXgpPyYMA1bzZvo85IqyORQ9WIU1_z4ZSFcQDmq-kkRijt2=
MYxAVc2d2OuyrG6kz_QVg6_TPsc1CfXeBOxrEFzPmf5rE98pIe-8fpcY1udMr-_GeR_IcNdwTRq=
QPE0Nie7O5kBZOTzCs3azqb3UcJxYxT99BnAz-H1zvbDUgQihyjiu5AaytJJcvlqnGMP3T7hk60=
uVHmtxbthgU8toE3Rit-75sLrxAH4ryMJz9Z9cmgs8xNtvHeLoSk4MJCc2265S9Y6X1w1rttfoh=
RY2vVnFDNE3pEETzkSz2-1x93LTrmnhegBNOI6Q3oL4oybIfg8v6YENxeA%3D%3D" target=3D=
"_blank" rel=3D"noopener noreferrer">research study</a> from fintech compan=
y Broadridge. The firm polled 2,000 crypto market participants across Canad=
a, the U.K., and the U.S. from March to June 2023.</p><p style=3D"margin: 1=
6px 0px 0px; font-size: 32px;"><strong>8</strong></p><p style=3D"margin: 4p=
x 0px 0px; line-height: 1.6; word-break: break-word;">Number of <a href=3D"=
https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=
=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_T5eXZt9Y=
NP-xgm0CpzUQa4vQV9980-V8Br8xWlcGQ_rPfdn4q6tlPnxoJg3vMzdPHSLCZf0Y0sDrluRa-nm=
BOl_tcK8Z65iBt2xquPThC5SDQFhphoXnknRimo-QFjsTxW_zDmfke9uW-C51pOFlm7W_qoABkY=
-gNM0UHH7NLpvAshZukr_Hw4DXLZ06rYZbjnP0emAd8IjTdJZYTb1f3c4dRBVDD4QufhPQVHSrw=
7syNMhnU00LSs-WuS-Cwkh1ki_V657Y8Bf1TADiEBWtGg_xviauGVEdZW5z7mggIjgO4OJD0cvD=
bVtdsd4B_B-DPL_7ucZ1ErvfV_1h8vCFeV1uzz5JYfoDxIh4PETwHmOSreHu7xfQqt-yPV6jeVc=
hkLAHmpQ5z_e7xTd18sPjdEzdcfE09avUmR_GCkLLrEdr7H2XgWPrP4taXr9GGUTSyA-OumrWLv=
hr7Z9yo%3D" target=3D"_blank" rel=3D"noopener noreferrer">spot bitcoin ETF<=
/a> applicants (including BlackRock, Fidelity, and VanEck) who are beginnin=
g the formal review process with the SEC this week. BlackRock, the world=E2=
=80=99s largest asset manager, <a href=3D"https://links.coinbase.com/a/clic=
k?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d=
2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_T5eXZt9YNP-xgm0CpzUQa4vQV9980-V8Br8xWlcGQ=
_rPfdn4q6tlPnxoJg3vMzdPHSLCZf0Y0sDrluRa-nmBOl_tcK8Z65iBt2xquPThC5SDQFhphoXn=
knRimo-QFjsTxW_zDmfke9uW-C51pOFlm7W_qoABkY-gNM0UHH6DPTCuRCHwjvgpniZz44C3GVY=
tFdputJR4wXHd5G-Z6a3jgVh8Di2s7bu4eJR8qi_ciX84IcfJ7zh7qjnjiZF4DPtD7dBQrf48Q4=
84s5_w1cfY8_eKxLcpd-7lXSpQs7TDdZpHV86D3uUeaaFpfCyd_NY-jRSrvHXvNRUl3Vfz39tGZ=
u56O1Ki0YGToYXNkqtOG4qnind7CjimBA9N3tbA%3D%3D" target=3D"_blank" rel=3D"noo=
pener noreferrer">announced</a> its BTC ETF efforts in June =E2=80=94 helpi=
ng spark a crypto rally and prompting other firms to file or refile <a href=
=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e968971=
3&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2BrDAUEXbC=
UjUfsoegohU9koBipoXlXw_zOnAx6UQMbKOI7fmLSq2TsphjLntdJPHrYMPcFN_qkhDZYMtuxAG=
r1CjuwmWfadeY-ZHOQMi9dGTfLBK46cPjmeH7SyE3nWTj8L6io7bQYS2JTmbUgaRaNU7pX_6BhY=
AtptCipdzTk8jCqA5g57PY06lec9pvOOj8tJso6Mn7wNC_PY0KPwUnEpB4SlJhMm0baYqIssYJY=
mPkxhvxNBwHduiLAJ_t94dP4eoWN7Qv2mQdoq3s9CCis2K0U-609fqUDO_XQfex0ygar5FwODD6=
V5z4XTaEkOBIKGDX7MxGqw8rXaFIqjfab5jVbS7aPML6X4BhzDHWJAkegk3DCKOJRFNOvWF1sDG=
aLh6sz4UT5d5ZEnP3XhaVI%3D" target=3D"_blank" rel=3D"noopener noreferrer">si=
milar applications</a>.</p><table width=3D"100%" role=3D"presentation" styl=
e=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px; border-=
collapse: collapse; min-width: 100%; text-size-adjust: 100%;"><tbody><tr st=
yle=3D"vertical-align: top;"><td valign=3D"top" style=3D"word-break: break-=
word; vertical-align: top; min-width: 100%; text-size-adjust: 100%; padding=
: 48px 0px;"><table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" width=
=3D"100%" align=3D"center" role=3D"presentation" style=3D"table-layout: fix=
ed; vertical-align: top; border-spacing: 0px; border-collapse: collapse; bo=
rder-top: 2px solid rgb(222, 224, 226); width: 100%;"><tbody><tr style=3D"v=
ertical-align: top;"><td valign=3D"top" style=3D"word-break: break-word; ve=
rtical-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"https://d15k2d11r6t6rl.cloudfront.net/public/us=
ers/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca563719674181922558=
78e9689713/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 style=3D"margin: 0px; font-size: 16px; letter-s=
pacing: 0.075em;"><strong> TOKEN TRIVIA </strong></p></td></tr></tbody></ta=
ble><p style=3D"margin: 5px 0px 0px; font-size: 32px; line-height: 1.26; wo=
rd-break: break-word;"><strong>Which cryptocurrency uses the Lightning Netw=
ork?</strong></p></div><div style=3D"margin-top: 16px;"><table style=3D"lin=
e-height: 1.6; word-break: break-word;"><tbody><tr><td style=3D"padding-rig=
ht: 12px;"><strong>A</strong></td><td>BTC</td></tr><tr><td style=3D"padding=
-right: 12px; padding-top: 12px;"><strong>B</strong></td><td style=3D"paddi=
ng-top: 12px;">ETH</td></tr><tr><td style=3D"padding-right: 12px; padding-t=
op: 12px;"><strong>C</strong></td><td style=3D"padding-top: 12px;">SOL</td>=
</tr><tr><td style=3D"padding-right: 12px; padding-top: 12px;"><strong>D</s=
trong></td><td style=3D"padding-top: 12px;">All of the above</td></tr></tbo=
dy></table></div><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-b=
reak: break-word;">Find the answer at the end of the email.</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" ses:no-track href=3D"https://links.coinbase.com=
/a/click?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced9=
0a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_T5eXZt9YNP-xgm0CrE_asBv8oBerRnaFTe=
s6d9J9JgyU8mOBc0PLWDHDBX2tIhQPdoOaAHJxm1MAdfiRlHSV-hYyviw82YyJpHNS0L9snBN9d=
cHUdtpGrlTWseza-orhkS7zWqnOsugwtWif5oCvPdudJMcGjSF9QmsptCKEkxMzUuYLhzRb7-et=
FcRAn-jxF-vSBP1KSjlr45RM-1AtO2WickvV91KT-73icvgk1vejSiVO5T_EPTohWfWyGXjbRsr=
QYcExLvmNC6sRXri_I2Pfe_lM_BTIsSLKh39_J-BjgSG9krDCeZKK_6HOshbQ4AzYdsbmEcZ7zG=
tTF1158zfIFcGRxiMTrR05el" style=3D"width:350pt;v-text-anchor:middle;" arcsi=
ze=3D"17%" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:textbo=
x 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/c=
lick?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e=
36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_T5eXZt9YNP-xgm0CrE_asBv8oBerRnaFTes6d9=
J9JgyU8mOBc0PLWDHDBX2tIhQPdoOaAHJxm1MAdfiRlHSV-hYyviw82YyJpHNS0L9snBN9dcHUd=
tpGrlTWseza-orhkS7zWqnOsugwtWif5oCvPdudJMcGjSF9QmsptC8w5jrzumesmNQBD5WzT3FX=
_LfEBKKeYu9lWdIZM42lbJjr7Gi7aLyG7zMGdVKZ8Vl2Ql7c9WDRt7cdy_oU5JW3Ms0Agvp-pPb=
BB6SuguieFreqDZl2Mq2Xx8oKGiizgkuKw2_O50NwThcUapdunZ23KeVCw-b8SkBhL0ojwERVQt=
gW5ITfZKkLZaMs2FXwDg" target=3D"_blank" rel=3D"noopener noreferrer" style=
=3D"display: block; margin: 0px; line-height: 1.2; font-size: 16px; text-de=
coration: none; color: rgb(255, 255, 255); background-color: rgb(0, 82, 255=
); border-radius: 30px; text-align: center; padding: 18px 0px;"><strong>Lea=
rn about the Lightning Network</strong></a><!--[if mso]></center></v:textbo=
x></v:roundrect></td></tr></table><![endif]--></div><table width=3D"100%" r=
ole=3D"presentation" style=3D"table-layout: fixed; vertical-align: top; bor=
der-spacing: 0px; border-collapse: collapse; min-width: 100%; text-size-adj=
ust: 100%;"><tbody><tr style=3D"vertical-align: top;"><td valign=3D"top" st=
yle=3D"word-break: break-word; vertical-align: top; min-width: 100%; text-s=
ize-adjust: 100%; padding: 48px 0px;"><table border=3D"0" cellpadding=3D"0"=
 cellspacing=3D"0" width=3D"100%" align=3D"center" role=3D"presentation" st=
yle=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px; borde=
r-collapse: collapse; border-top: 2px solid rgb(222, 224, 226); width: 100%=
;"><tbody><tr style=3D"vertical-align: top;"><td valign=3D"top" style=3D"wo=
rd-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; paddin=
g-right: 11px; vertical-align: middle;"><img src=3D"https://d15k2d11r6t6rl.=
cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6=
a/3aca56371967418192255878e9689713/dot-1.5x.png" width=3D"12" height=3D"12"=
 style=3D"display: block; width: 12px; height: 12px;"></td><td style=3D"mar=
gin: 0px; padding: 0px; vertical-align: middle;"><p style=3D"margin: 0px; f=
ont-size: 16px; letter-spacing: 0.075em;"><strong> NOW TRADING ON COINBASE =
</strong></p></td></tr></tbody></table></div><a href=3D"https://links.coinb=
ase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a=
87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2DC9B_T5eXZt9YNP-xgm0Coe5r5o6Pi4L=
mlHTxl4IvCWt1_8b3SH8OUpv_yqfNmZ4bkmgh58s3tZbuR8q3isz1ajxSvSF4TWLXvB6FB2TqGZ=
uk3AkBjHKpXmhEdedWtC3NGSrzcdrR3jkHqk2os3m19C5nDETOt95mn9wq2oh5fw64psH0ilLuS=
3GRvauPOCgSefKX4VNy5zkVb3YI9iP2C_yR74BiVXp7XIDKFZg532FLkQ082ptXdTQBOrzUmAMh=
JIZ-fo3G2J4MYkzKYQBrXtOYPxIW5H5xvgSEoEiDAMV6BII8HpAY_MirGZTpB41x6kgyCw39aq8=
YkEV1U1cCI%3D" target=3D"_blank" rel=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; vertical-align: middle; white-space: nowrap;">=
<strong>HNT</strong></td><td style=3D"vertical-align: middle; padding-left:=
 12px;"><img src=3D"https://dynamic-assets.coinbase.com/05a4a8a1dbc45809c4f=
680ed3eb65a2cca1c63cfb35f71db8135da88636ec224b660fa6858118c97dc5886b00d021e=
ad8476f45e147dd459c6d009819bb65ec3/asset_icons/12ad9805c8268d57ceeac21b7482=
9ffbc7a44910f906356c84809bd7395c4434.png" width=3D"26" height=3D"26" style=
=3D"display: block; width: 26px; height: 26px; vertical-align: middle;"></t=
d><td style=3D"vertical-align: middle; text-align: right; width: 100%;"><im=
g src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669=
d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Newslett=
er%20Assets/newlistings_light.png" width=3D"21" height=3D"18" style=3D"widt=
h: 21px; height: 18px; vertical-align: middle;"></td></tr></tbody></table><=
p style=3D"margin: 0px; line-height: 1.6;">HNT is the utility token of the =
Helium network. </p></a><table width=3D"100%" role=3D"presentation" style=
=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px; border-c=
ollapse: collapse; min-width: 100%; text-size-adjust: 100%;"><tbody><tr sty=
le=3D"vertical-align: top;"><td valign=3D"top" style=3D"word-break: break-w=
ord; vertical-align: top; min-width: 100%; text-size-adjust: 100%; padding:=
 48px 0px;"><table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" width=
=3D"100%" align=3D"center" role=3D"presentation" style=3D"table-layout: fix=
ed; vertical-align: top; border-spacing: 0px; border-collapse: collapse; bo=
rder-top: 2px solid rgb(222, 224, 226); width: 100%;"><tbody><tr style=3D"v=
ertical-align: top;"><td valign=3D"top" style=3D"word-break: break-word; ve=
rtical-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;"><strong>Trivia answer</strong></p><table style=
=3D"margin: 12px 0px 0px; line-height: 1.6; word-break: break-word;"><tbody=
><tr><td style=3D"padding-right: 12px;"><strong>A</strong></td><td>BTC</td>=
</tr></tbody></table><table style=3D"margin: 48px 0px 0px;"><tbody><tr><td =
style=3D"text-align: left;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.n=
et/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca563719=
67418192255878e9689713/Rebrand%20Assets/coinbase_footer_wordmark.png" alt=
=3D"Coinbase" height=3D"26" style=3D"display: block; height: 26px; margin-b=
ottom: 24px;"></td></tr><tr><td><a href=3D"https://links.coinbase.com/u/cli=
ck?_t=3D3aca56371967418192255878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36=
d2b&_e=3DL7S-9Zn5YSR6zEUASQ_y2OB6XkP0dpXCkuas64HBpiXxjUsdtv9CqYuObSHzZugkEE=
1UpcrJ7sodjDn5L6Wz5Wha8D2PVuIvzDbzx99CVgf0QWU8kn4Xi-lTNCl1kugLb8fIVOlV9ypaL=
EQZ_pF3AiJ8DFVq13GTca-wFdsfYHqTMEHiNMwxPjaYwrng-4dZxlw3_rmobatztt-1Zb3hfEEh=
YACeUAs0gJX-EeKjK2XS72Z0nK793jSF5pFOLkcBiIXQvzbtjUJLja0IhpAa4AGWtJMdD85sQLn=
1HI4IMyt06u4B8m5I8lbuFGPBqkPUxH_o-8YWnTdXE48Xt0F-9h5zmd-1P4ehI9azUlrlIRpcCF=
BZdIyKZ9wuEQNqX91H" title=3D"coinbase ios app" target=3D"_blank" rel=3D"noo=
pener noreferrer"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/=
users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5637196741819225=
5878e9689713/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.coinbase.com/u/click?_t=3D3aca563719674181922=
55878e9689713&_m=3Debc8e2e8ef21456a87dced90a7e36d2b&_e=3DL7S-9Zn5YSR6zEUASQ=
_y2L318NA8Nft82fIgyrl0Fw92FhERa51tf1DE7Gbves8T4XEqcHvLTLzbb5gpUGD6_tkXg5hx3=
2gKcax25DN5tRHIRphqfVxzwjMOiXhBl9IiALHf9Qx_CtCeqSG3vM8_QILTXPhr-HevilJnritQ=
r6EPUbiQMIX61tgjTF0nbk5Dn-aJcCoFE0pCmxki8r8wwO3muvq6oJ5mVWp5QqJEpREHIEuddsP=
I0NSy-_Q4nbfUqEwet5jLdieRcMvdNOjxcQat9dPAdMd3ckjP2ogwUjWpzIA9CIeLJyiFQf2RGC=
rlK_U_uGVlgqbwvouGYjej6zxOe73-tPoIR7cPYe_Brs9H08b7KHIhr1ovYvX8ZJaW" title=
=3D"coinbase android app" target=3D"_blank" rel=3D"noopener noreferrer"><im=
g src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669=
d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Icons/ap=
p_google.png" alt=3D"Download on Google Play" height=3D"46" style=3D"displa=
y: block; height: 46px;"></a></td></tr></tbody></table><div style=3D"margin=
-top: 24px;"><p style=3D"font-size: 12px; line-height: 1.8; word-break: bre=
ak-word; color: rgb(91, 97, 110);">Disclaimer: This material is the propert=
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