HEX

File: D:/hMailServer/Data/showfile.com/admin/23/{23EDF110-908D-4BC8-AEF8-017EBCD92B74}.eml
Content-Type: multipart/alternative; boundary="----=_Part_173411_96873804.1693434438772"
Date: Wed, 30 Aug 2023 22:27:19 +0000
Feedback-Id: 1.us-east-1.TQLiVf/rBjClwRiRLqnvdJT2gxVOHcgDf6Da6aS84zo=:AmazonSES
From: Coinbase Bytes <newsletter@mail.coinbase.com>
Message-ID: <0100018a488ee7ff-d1a935fb-3764-47a4-958c-336ae41b8e31-000000@email.amazonses.com>
Mime-Version: 1.0
Reply-To: newsletter@mail.coinbase.com
Subject: Bitcoin rallies after Grayscale court victory
To: Vincent Herbert <vince@showfile.com>

------=_Part_173411_96873804.1693434438772
Content-Type: text/plain; charset=UTF-8
Content-Transfer-Encoding: quoted-printable

Coinbase BytesWhat the ruling might mean for BTC ETFs and the crypto market=
 at=20
large.View in browser=20
<https://links.coinbase.com/e/evib?_t=3D3aca56371967418192255878e9689713&_m=
=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DSbh9pejr8esuCre6SgrJwRVtYSREb_CI9A=
8SUTrkQgCHgATKgb4TNuPYlN1LwW2lQpH67v_9dStjIA_EPMo6zw%3D%3D>
 <https://coinbase.com>
 30/08/2023
 <https://www.coinbase.com>
On Tuesday, crypto asset manager Grayscale notched a key legal victory over=
=20
the SEC. [Tingey Injury Law Firm 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:

 * Grayscale secured a legal victory over the SEC. What the court ruling co=
uld=20
mean for the future of spot bitcoin ETFs in the U.S.
 * The IRS proposed new tax reporting rules for crypto. We=E2=80=99re break=
ing down=20
the 282-page report, and gauging the crypto industry=E2=80=99s reaction.
 * This week in numbers. The price of a pair of NFT-inspired Crocs, and oth=
er=20
key stats to know.




Bitcoin

 =C2=A321,432.18=20

 +3.59%=20
 <https://coinbase.com/price/bitcoin?bytes_title=3Dbitcoin>=20

Ethereum

 =C2=A31,338.62=20

 +1.70%=20
 <https://coinbase.com/price/ethereum?bytes_title=3Dethereum>=20


XRP

 =C2=A30.42=20

 +0.12%=20
 <https://coinbase.com/price/xrp?bytes_title=3Dxrp>=20

Cardano

 =C2=A30.21=20

 -0.43%=20
 <https://coinbase.com/price/cardano?bytes_title=3Dcardano>=20


Dogecoin

 =C2=A30.05=20

 +3.41%=20
 <https://coinbase.com/price/dogecoin?bytes_title=3Ddogecoin>=20

Solana

 =C2=A316.38=20

 -3.25%=20
 <https://coinbase.com/price/solana?bytes_title=3Dsolana>=20


Bitcoin

 =C2=A321,432.18=20

 +3.59%=20
 <https://coinbase.com/price/bitcoin?bytes_title=3Dbitcoin>=20

Ethereum

 =C2=A31,338.62=20

 +1.70%=20
 <https://coinbase.com/price/ethereum?bytes_title=3Dethereum>=20

XRP

 =C2=A30.42=20

 +0.12%=20
 <https://coinbase.com/price/xrp?bytes_title=3Dxrp>=20


Cardano

 =C2=A30.21=20

 -0.43%=20
 <https://coinbase.com/price/cardano?bytes_title=3Dcardano>=20

Dogecoin

 =C2=A30.05=20

 +3.41%=20
 <https://coinbase.com/price/dogecoin?bytes_title=3Ddogecoin>=20

Solana

 =C2=A316.38=20

 -3.25%=20
 <https://coinbase.com/price/solana?bytes_title=3Dsolana>=20
Price changes are for the past week, ending on Aug 30, 2023 at 10:26 PM UTC
See the latest prices <https://www.coinbase.com>



 MARKET UPDATE=20

Crypto rallies after Grayscale court victory lifts hopes for new bitcoin ET=
Fs

After a sleepy summer with stubbornly stable prices and historically low=20
volatility, crypto markets have woken up in a major way as autumn approache=
s.=20
Earlier this month,markets tumbled=20
<https://www.coinbase.com/bytes/archive/the-crypto-selloff-explained> =E2=
=80=93 with=20
nearly 12% of BTC=E2=80=99s market cap erased in a single night.This week m=
arkets=20
flipped again, with a wide variety of cryptocurrencies (including BTC, ETH,=
 and=20
many altcoins) roaring back after digital asset manager Grayscale notched a=
=20
legal victory that could have major ramifications for the crypto industry.=
=20
Here=E2=80=99s what you need to know.

Grayscale=E2=80=99s legal victory could open the door for =E2=80=9Cspot=E2=
=80=9D BTC ETFs

On Tuesday, the District of Columbia Court of Appeals sided with crypto-ass=
et=20
manager Grayscale=20
<https://www.cnbc.com/2023/08/29/first-bitcoin-etf-could-be-coming-soon-as-=
court-rules-in-favor-of-grayscale-over-sec.html>
 in a lawsuit the firm filed against the Securities and Exchange Commission=
=20
(SEC). At issue was Grayscale=E2=80=99s denied application to convert its G=
rayscale=20
Bitcoin Trust product into a =E2=80=9Cspot=E2=80=9D exchange-traded product=
 (ETP), which would=20
buy BTC and sell shares to customers via conventional brokerages.=20
(Exchange-traded funds, or ETFs, are the most common type of ETP.)

Grayscale filed its application in 2022 after the SEC approved similar BTC=
=20
futures ETFs=20
<https://www.coinbase.com/learn/crypto-basics/what-is-a-bitcoin-futures-etf=
>,=20
which buy BTC futures contracts (as opposed to BTC itself) as an indirect w=
ay=20
of providing investors exposure to crypto.

Ruling in favor of Grayscale on Tuesday, the court noted that the SEC =E2=
=80=9Cfailed=20
to adequately explain why it approved the listing of two bitcoin futures [E=
TFs]=20
but not Grayscale=E2=80=99s proposed bitcoin [ETF]. In the absence of a coh=
erent=20
explanation, this unlike regulatory treatment of like products is unlawful.=
=E2=80=9D

Or as Fortune crypto editor Jeff Roberts tweeted=20
<https://twitter.com/jeffjohnroberts/status/1696535568660980111?s=3D51&t=3D=
7wm6ZbXEX1HDO4-Xvdlwbg>
: =E2=80=9CIn plain English, DC Court told [SEC Chair Gary] Gensler: =E2=80=
=9Cyou say the price=20
of bitcoin could be manipulated but the SEC approved a futures ETF =E2=80=
=94 and there=20
is a 99% correlation b/w spot and future prices.=E2=80=9D

=E2=80=9CWe are reviewing the court=E2=80=99s decision to determine next st=
eps,=E2=80=9D said=20
<https://www.wsj.com/finance/regulation/grayscale-wins-lawsuit-against-sec-=
over-bitcoin-etf-1b305cfa?mod=3Dhp_lead_pos6#:~:text=3DAn%20SEC%20spokeswom=
an%20said%20the%20agency%20is%20%E2%80%9Creviewing%20the%20court%E2%80%99s%=
20decision%20to%20determine%20next%20steps.%E2%80%9D>
 the SEC in a statement.

Why are spot BTC ETFs a big deal?

ETFs are a hugely popular asset class =E2=80=94 with more than $10 trillion=
=20
<https://www.ft.com/content/23b3c88a-3e76-47c1-bda7-0e5bd53b03c6> under=20
management worldwide =E2=80=94 that are similar in many ways to mutual fund=
s. They=20
generally track the price of an asset (like gold) or basket of assets (like=
 the=20
S&P 500). And as their name suggests, they trade on exchanges and can be bo=
ught=20
and sold like stock via a traditional brokerage account.

Spot BTC ETFs are widely seen as a potential way to increase mainstream=20
adoption of crypto =E2=80=94 and such products are currently being pursued =
by some of=20
Wall Street=E2=80=99s biggest players. In June,crypto markets rallied=20
<https://www.coinbase.com/bytes/archive/bitcoin-rallies-on-wall-streets-cry=
pto-moves>
 after a wave of spot BTC ETF applications from asset-management giants=20
including BlackRock and Fidelity.

What are experts saying about the ramifications of Grayscale=E2=80=99s vict=
ory?

Market watchers speaking to publications including Bloomberg=20
<https://www.bloomberg.com/news/articles/2023-08-29/bitcoin-crypto-stocks-j=
ump-after-us-court-paves-way-for-etf?sref=3DaInCMkkj>
,Fortune=20
<https://fortune.com/crypto/2023/08/29/court-sides-with-grayscale-in-closel=
y-watched-bitcoin-etf-case/>
, andthe Wall Street Journal=20
<https://www.wsj.com/finance/regulation/grayscale-wins-lawsuit-against-sec-=
over-bitcoin-etf-1b305cfa>
 generally indicated that the court=E2=80=99s ruling makes a positive outco=
me in Wall=20
Street=E2=80=99s spot BTC applications more likely.

Some were strongly bullish. Speaking to CNBC, CoinRoutes CEO Dave Weisberge=
r=20
said: =E2=80=9CIt virtually guarantees they will approve BlackRock and Fide=
lity.=20
Grayscale may need to refile, but they will almost certainly be approved as=
=20
well.=E2=80=9D

Others were more measured in their optimism. =E2=80=9CThis is huge for cryp=
to ETFs and=20
for Grayscale,=E2=80=9Dsaid=20
<https://www.bloomberg.com/news/articles/2023-08-29/bitcoin-crypto-stocks-j=
ump-after-us-court-paves-way-for-etf?utm_source=3Dwebsite&utm_medium=3Dshar=
e&utm_campaign=3Dcopy>
 Bloomberg Intelligence analyst James Seyffart. =E2=80=9CThat said, this do=
esn=E2=80=99t mean=20
unequivocally that we are immediately going to see GBTC convert into an ETF=
 or=20
get spot-Bitcoin ETF approvals. Though it makes it more likely.=E2=80=9D

According to Bloomberg, the SEC is expected to begin responding to filings =
by=20
early September=20
<https://www.bloomberg.com/news/articles/2023-08-28/bitcoin-btc-etf-deadlin=
es-loom-again-for-sec-ahead-of-labor-day-weekend?sref=3DaInCMkkj>
 =E2=80=94 although given that the agency has the option to approve, deny, =
or delay,=20
=E2=80=9Canalysts and industry observers anticipate the SEC to once again p=
unt on=20
making a decision.=E2=80=9D

The bottom line=E2=80=A6

Prior to the ruling, crypto markets had been mired in a down cycle, with BT=
C=20
enduring weekly losses in eight of the last nine weeks asrenewed interest-r=
ate=20
hike fears=20
<https://www.cnbc.com/2023/08/25/fed-chair-powell-calls-inflation-too-high-=
and-warns-that-we-are-prepared-to-raise-rates-further.html>
 pressured markets. Facing those headwinds, crypto markets have been waitin=
g=20
for a catalyst =E2=80=94 and while it=E2=80=99s too soon to say if this cou=
rt decision will=20
evolve into the news that helps drive the next cycle, at least some investo=
rs=20
are betting that prices will rise: In the hours after the Grayscale decisio=
n,
BTC futures=20
<https://www.wsj.com/finance/regulation/grayscale-wins-lawsuit-against-sec-=
over-bitcoin-etf-1b305cfa>
 were up by more than 6%.
Learn more about ETFs=20
<https://www.coinbase.com/learn/crypto-basics/what-is-an-etf>=20
<https://onchainsummer-cb1.coinbase.com>

 BRASS TAX=20

IRS=E2=80=99s crypto tax reporting proposal gets mixed reactions from Washi=
ngton,=20
crypto industry

Last Friday, the U.S. Treasury Department and the IRS issued a 282-page=20
digital asset tax proposal=20
<https://www.federalregister.gov/public-inspection/2023-17565/gross-proceed=
s-and-basis-reporting-by-brokers-and-determination-of-amount-realized-and-b=
asis-for>
 that would fundamentally transform the tax reporting requirements for cryp=
to =E2=80=94=20
a move the governmentclaims=20
<https://home.treasury.gov/news/press-releases/jy1705> will generate $28=20
billion in revenue over a decade and that criticssay=20
<https://cointelegraph.com/news/crypto-community-biden-crypto-tax-reporting=
-rules>
 could put undue pressure on an industry that is already battling regulator=
y=20
overreach.

The proposed regulations would clarify a last-minute crypto law=20
<https://www.coinbase.com/bytes/archive/crypto-goes-to-washington> that the=
=20
Biden administration added to its sweeping 2021Bipartisan Infrastructure De=
al=20
<https://www.whitehouse.gov/briefing-room/statements-releases/2021/11/06/fa=
ct-sheet-the-bipartisan-infrastructure-deal/>
. The law had two major consequences: it instructed the IRS to define what =
a=20
crypto =E2=80=9Cbroker=E2=80=9D is and asked the agency to ramp up tax repo=
rting requirements=20
from such brokers. Now, the public is invited to weigh in on the proposal,=
=20
parts of which have been met with concern from many corners of the crypto=
=20
ecosystem. Here=E2=80=99s what you need to know.

Why does the IRS say it needs new crypto tax reporting rules?

 * Because crypto is still relatively new, the IRS says=20
<https://www.bloomberg.com/news/articles/2023-08-25/crypto-exchanges-to-rep=
ort-customer-data-under-treasury-proposal?sref=3DaInCMkkj>
 that current regulations make it hard for the agency to know what it is ow=
ed=20
and for consumers to know what they should be paying in taxes. That=E2=80=
=99s why the=20
proposal aims to define who qualifies as a crypto =E2=80=9Cbroker=E2=80=9D =
and what information=20
around customer crypto related activity =E2=80=94 like capital gains and lo=
sses =E2=80=94 such=20
brokers should report to both the IRS and customers.
 * The IRS has existing reporting rules for traditional-finance brokers, bu=
t=20
there are several key differences when it comes to crypto brokers =E2=80=94=
 one being=20
theamount of information being requested. As Lawrence Zlatkin, Coinbase=E2=
=80=99s VP of=20
tax,said=20
<https://www.bloomberg.com/news/articles/2023-08-25/crypto-exchanges-to-rep=
ort-customer-data-under-treasury-proposal?sref=3DaInCMkkj>
 in a statement, =E2=80=9CThe sheer magnitude of this data requirement woul=
d be=20
hundreds of times more than the annual reported transactions of any major=
=20
brokerage.=E2=80=9D




Got it. So what are some of the specifics in the tax proposal?

 * Brokers would be defined as a broad category that includes centralized=
=20
crypto trading platforms (like Coinbase) and decentralized crypto platforms=
=20
that provide =E2=80=9Cfacilitative services=E2=80=9D =E2=80=94 potentially =
ranging from decentralized=20
exchanges and, in some cases, non-custodial wallets.
 * Notably, miners and validators/stakers=20
<https://www.coinbase.com/learn/crypto-basics/what-is-proof-of-work-or-proo=
f-of-stake#>
 would not automatically qualify as brokers and wouldn=E2=80=99t need to fo=
llow these=20
same broker reporting rules.
 * Brokers would have a number of reporting requirements, including a new 1=
099=20
form that tracks gains and losses for an ultra-wide range of transactions=
=20
including assets sold on exchanges, assets traded via DeFi, gas fees, NFT=
=20
sales, and stablecoin transactions.
 * While the proposed rules address gain/loss information reporting, the IR=
S=20
specifically did not address in the rules whether crypto is considered a=20
security or commodity for tax purposes.
 * The proposed rules are also strictly for broker information reporting an=
d=20
do not change the need for taxpayers to continue tracking crypto-related=20
gain/loss info themselves and reporting any taxes accurately to the IRS via=
=20
their income tax return.
 * A 60-day public commenting period ends on October 30. If finalized in it=
s=20
current form, the rules go into effect in 2026, for the 2025 tax year.




Some voices from Washington D.C. and the crypto community have expressed=20
<https://blockworks.co/news/irs-new-crypto-taxes> concerns about the propos=
al.=20
What are they saying?

 * Rep. Patrick McHenry (R=E2=80=93NC), Chair of the House Financial Servic=
es=20
Committee,criticized=20
<https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=3D=
408956>
 the rules as overly broad, saying the proposal is part of an =E2=80=9Congo=
ing attack=20
on the digital asset ecosystem=E2=80=A6 Any proposed rule must be narrow, t=
ailored, and=20
clear.=E2=80=9D McHenry is a key advocate behind thebipartisan stablecoin b=
ill=20
<https://www.coinbase.com/bytes/archive/bipartisan-crypto-bills-advance-in-=
congress>
 that recently advanced in Congress.
 * Miller Whitehouse-Levine, CEO of the DeFi Education fund, called=20
<https://blockworks.co/news/irs-new-crypto-taxes> the IRS=E2=80=99s report =
=E2=80=9Ca confusing=20
and self-refuting proposal =E2=80=A6 [that] strains to find non-existent fi=
nancial=20
intermediaries in crypto =E2=80=94 including DAOs and certain wallet provid=
ers =E2=80=94 or to=20
create them.=E2=80=9D
 * Kristin Smith, CEO of the Blockchain Association advocacy group,=20
acknowledged that =E2=80=9Cif done correctly, these rules could help =E2=80=
=A6 everyday crypto=20
users =E2=80=A6 comply with tax laws.=E2=80=9D But she alsosaid=20
<https://blockworks.co/news/irs-new-crypto-taxes> =E2=80=9Cit=E2=80=99s imp=
ortant to remember=20
that the crypto ecosystem is very different from that of traditional assets=
, so=20
the rules must be tailored accordingly and not capture ecosystem participan=
ts=20
that don=E2=80=99t have a pathway to compliance.=E2=80=9D

Become a crypto advocate=20
<https://www.coinbase.com/public-policy/advocacy/standwithcrypto>



 NUMBERS TO KNOW=20

2 million

Approximate number of downloads=20
<https://www.theblock.co/post/247208/crypto-nfl-game-scores-millions-of-dow=
nloads-full-gameplay-going-live>
 logged by the blockchain-powered mobile game NFL Rivals since its soft lau=
nch=20
in April. NFL Rivals incorporates "web3 digital ownership with an in-game=
=20
utility that allows fans to own, collect, and trade playable digital assets=
,"=20
according to developer Mythical Games.

$99

Price for a pair of the Doodles x Crocs sandals=20
<https://nftnow.com/news/doodles-and-crocs-announce-exclusive-footwear-coll=
aboration/>
 that are available to Doodles NFT holders. In addition to the shoes,=20
purchasers receive a =E2=80=9CCrocs Box=E2=80=9D digital collectible which =
includes two Doodles=20
Wearables and early entry to Doodles=E2=80=99 Stoodio =E2=80=94 a new platf=
orm for customizing=20
Doodles characters.

95%

Approximate decrease in daily revenue earned by the buzzy web3 social app=
=20
Friend.techon Monday=20
<https://decrypt.co/153971/friend-tech-revenues-plummet-social-app-hype-coo=
ls>=20
after peaking at around $840,000 per day a week earlier. Friend.tech is a=
=20
decentralized social network that allows users to tokenize their accounts a=
nd=20
then sell access to fans =E2=80=94 early users included NBA players and cry=
pto=20
influencers.






 TOKEN TRIVIA=20

Which of the following is a taxable event?

AGetting paid in crypto
BReceiving an airdrop
CSelling crypto for cash
DAll of the above
Find the answer at the end of the email.
Learn about crypto taxes=20
<https://www.coinbase.com/learn/crypto-basics/understanding-crypto-taxes>


Trivia answer

DAll of the above

 <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.

 =C2=A9 Coinbase 2023 | Coinbase Europe Limited=20
 70 Sir John Rogerson=E2=80=99s Quay | Dublin 2 | D02 R296 | Ireland=20
 =C2=A9 Coinbase 2023 | CB Payments, Ltd=20
 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

 CB Payments, Ltd. is authorised by the Financial Conduct Authority under t=
he=20
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.


Unsubscribe=20
<https://links.coinbase.com/e/encryptedUnsubscribe?_r=3D3aca563719674181922=
55878e9689713&_s=3Dfbd01e0cf2654779a3689d68e0bb96ae&_t=3DSbh9pejr8esuCre6Sg=
rJwRVtYSREb_CI9A8SUTrkQgCHgATKgb4TNuPYlN1LwW2la8c1VLiNUv6SDEn5N7nH9amS5vKWb=
kAC9nvhWtMFTLeilZE76Eq3_Joy8M4PAaqCnJyLHYv3YXnby8LXM8L4VwAbiQLzWwzs213IayCe=
N4S7EMxBrN5U2n52EymV_VGs>
 from future editions of Coinbase Bytes.

------=_Part_173411_96873804.1693434438772
Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable

<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional //EN" "http://www=
.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"><html xmlns=3D"http://www.w3=
.org/1999/xhtml" xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:o=3D"urn:s=
chemas-microsoft-com:office:office"><head><!--[if gte mso 9]><xml><o:Office=
DocumentSettings><o:AllowPNG/><o:PixelsPerInch>96</o:PixelsPerInch></o:Offi=
ceDocumentSettings></xml><![endif]--><meta http-equiv=3D"Content-Type" cont=
ent=3D"text/html; charset=3Dutf-8"><meta name=3D"viewport" content=3D"width=
=3Ddevice-width"><!--[if !mso]><!--><meta http-equiv=3D"X-UA-Compatible" co=
ntent=3D"IE=3Dedge"><!--<![endif]--><title>Coinbase Bytes</title><style id=
=3D"reset-style" type=3D"text/css">body,table,td,tr,p{font-family:Helvetica=
 Neue,Helvetica,Arial,sans-serif}body{margin:0;padding:0}table,td,tr{vertic=
al-align:top;border-collapse:collapse}*{line-height:inherit}a[x-apple-data-=
detectors=3D'true']{color:inherit!important;text-decoration:none!important}=
a{color:#1957f5}</style><style id=3D"media-query" type=3D"text/css">@media(=
max-width:590px){.cta_button{width:100%!important}.block-grid{width:100%!im=
portant;max-width:100%!important}.mobile_hide{min-height:0;max-height:0;max=
-width:0;display:none;overflow:hidden;font-size:0}.desktop_hide{display:blo=
ck!important;max-height:none!important}}</style></head><body style=3D"margi=
n: 0;padding: 0;-webkit-text-size-adjust: 100%;background-color: #FFFFFF;fo=
nt-family: Helvetica Neue, Helvetica, Arial, sans-serif;font-size: 16px;col=
or: #0A0B0D;"><span style=3D"color:transparent;visibility:hidden;display:no=
ne;opacity:0;height:0;width:0;font-size:0;">What the ruling might mean for =
BTC ETFs and the crypto market at large.</span><img src=3D"https://links.co=
inbase.com/e/eo?_t=3D3aca56371967418192255878e9689713&amp;_m=3Dfbd01e0cf265=
4779a3689d68e0bb96ae&amp;_e=3DSbh9pejr8esuCre6SgrJwRVtYSREb_CI9A8SUTrkQgCHg=
ATKgb4TNuPYlN1LwW2la8c1VLiNUv6SDEn5N7nH9amS5vKWbkAC9nvhWtMFTLeilZE76Eq3_Joy=
8M4PAaqCYZ2ODPjFv1AqErV9flT-tfJeStaC5EYB_PFtrQsEcwI%3D" style=3D"border:0;w=
idth:1px;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"mi=
n-width: 320px; background-color: #FFFFFF; width: 100%"><div style=3D"min-w=
idth: 320px; max-width: 570px; overflow-wrap: break-word; word-break: break=
-word; margin: 0px auto;" class=3D"block-grid"><div style=3D"padding: 0px 1=
0px 10px;"><div style=3D"text-align: right; margin-bottom: 24px;"><a href=
=3D"https://links.coinbase.com/e/evib?_t=3D3aca56371967418192255878e9689713=
&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DSbh9pejr8esuCre6SgrJwRVtYSREb_C=
I9A8SUTrkQgCHgATKgb4TNuPYlN1LwW2lQpH67v_9dStjIA_EPMo6zw%3D%3D" target=3D"_b=
lank" rel=3D"noopener noreferrer" style=3D"color: rgb(91, 97, 110); text-de=
coration: none; line-height: 1.5; font-size: 12px;">View in browser</a></di=
v><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"http=
s://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3Df=
bd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxGyfckmTFRAJnJuEGG=
UQL-OiEQ8ZfoS76fx9QAgHw8lpUDv8tEvkMQ22cgc0mpeuR_fkIIngiSLTBbe8GbwDrPBES0Lfc=
T7b-n3xEyjjbxXVoSgg89CLAzV8TMTxgCBC4Jyg4Bc1d-Q8RvaTn0JeTTUJFq9bOk6If9-QBtZ4=
QT-DEfmxOcZT8wuQy7XrjcPTUjmXtJceQADlYYcxfjAyBL-k_xdvWRjvMbFTXXhrj4NJQFr7YZR=
Qfwy82DBU8WFizcM8SvApAldqnXnpaqhPF2iMpvEmey-svCkWwSBZh9MP" title=3D"Coinbas=
e Bytes" target=3D"_blank" rel=3D"noopener noreferrer"><img src=3D"https://=
d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-b=
d7e-c542cff6dd6a/3aca56371967418192255878e9689713/cbytes-4x.png" height=3D"=
36" style=3D"display: block; height: 36px;"></a></td><td style=3D"text-alig=
n: right;"><p style=3D"font-size: 20px; color: rgb(10, 11, 1); margin: 10px=
 0px 0px;"> 30/08/2023</p></td></tr></tbody></table></div><a href=3D"https:=
//links.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd=
01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxDH7dXQF8nlzKaLogG19=
ftIxTP8lnzfVvUyJxBuYoNQsQd9OSNPaXqb15v8XTwxB0RTsA8xDP9HD2-yjVyrufZQSwBWbpwl=
ooxzT_LQTnz6jrRdyyCx7CwmeqcTvai_hiLezWHTsG8-ZiC18cwaV-cqydU3HD5RG9Y8NtIqbzx=
To5xNvSdA6wq5LAWPi6gZ_eEl-o86XJSHBScTjMTjw8Rkvd_Pm-PJHt1i3WvooXTrcoS6YYlsVK=
lfNH1tf1GF7jv13ZKKxvV-p_4ExwbVpOg0FtqwPLV4td4YTW84z1FCw" target=3D"_blank" =
rel=3D"noopener noreferrer"><img src=3D"https://images.ctfassets.net/q5ulk4=
bp65r7/5RSHWH3I9Sw7jK7O1jnd45/f63167824d89345f14ccb4673fd42017/tingey-injur=
y-law-firm-veNb0DDegzE-unsplash__1_.jpg" width=3D"100%" style=3D"display: b=
lock; width: 100%;"></a><p style=3D"margin: 16px 0px 0px; line-height: 1.5;=
 word-break: break-word; font-size: 12px; color: rgb(91, 97, 110);">On Tues=
day, crypto asset manager Grayscale notched a key legal victory over the SE=
C. [Tingey Injury Law Firm via Unsplash]</p><p style=3D"margin: 48px 0px 16=
px; font-size: 32px; line-height: 1.26; word-break: break-word;"><strong>Wh=
at=E2=80=99s up? It=E2=80=99s Coinbase Bytes </strong></p><p style=3D"margi=
n: 0px; line-height: 1.6; word-break: break-word;">There=E2=80=99s never a =
dull moment on the blockchain. Here=E2=80=99s what you need to know this we=
ek:</p><!--[if mso]><ul style=3D"line-height:1.6;mso-line-height-alt:26px;"=
><![endif]--><!--[if !mso]><!-- --><ul style=3D"margin: 10px 0px; padding-l=
eft: 24px; line-height: 1.6;"><!--<![endif]--><li style=3D"margin: 0px; pad=
ding: 6px 0px;"><strong>Grayscale secured a legal victory over the SEC.</st=
rong> What the court ruling could mean for the future of spot bitcoin ETFs =
in the U.S.</li><li style=3D"margin: 0px; padding: 6px 0px;"><strong>The IR=
S proposed new tax reporting rules for crypto. </strong>We=E2=80=99re break=
ing down the 282-page report, and gauging the crypto industry=E2=80=99s rea=
ction.</li><li style=3D"margin: 0px; padding: 6px 0px;"><strong>This week i=
n numbers. </strong>The price of a pair of NFT-inspired Crocs, and other ke=
y stats to know.</li></ul><p style=3D"margin: 0px; padding: 0px;"></p><!--[=
if !mso]><!--> <div class=3D"desktop_hide" style=3D"mso-hide:all;display:no=
ne;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.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F=
_t=3D3aca56371967418192255878e9689713%26_m=3Dfbd01e0cf2654779a3689d68e0bb96=
ae%26_e=3DzlzL4d3mrcfO3hiQ7TGzxDp2pRB-E1xTyak953C8skBN1I-P3sUkpFpnCbn_lnpei=
CANkbPeqfeiILDWcrcw2vZjZH9NSYhwwkmutvIGWoTMZJsGxmPZgep_lGy4jf8T81Zrngc6C_ro=
J2sLteS7kKScNPN1_rGJG-UL3fgEhZHb4ZSyZeOAoYG-YRyHHYIvU55n9Um-Jp9yTqBwwby4mSm=
Gq7JiGjz8jmeoDHCF-nXeFD-HeYWn2UwWCbRXqt0UQHvXIPZW6iKY2nF5zYZ21ICXZFkKy-kkvD=
bKStL6OcSKfJz8koDENpfNMiKYF6QDgdzdsSHThmTBffAtZ2xq8Sj7Ui5zwjXrhAJmQ6k6gPU%2=
53D/1/0100018a488ee7ff-d1a935fb-3764-47a4-958c-336ae41b8e31-000000/rrf-J7wh=
3RwNMmW22m8KGdS3LBSD_Ze71lER49Wjc6o=3D316" 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>Bitcoin</=
strong></p> <p style=3D"margin:8px 0px;"> =C2=A321,432.18 </p> <p style=3D"=
margin:0;font-size:12px;"> +3.59% </p> </div> </td> </tr> </tbody> </table>=
 </a> </td> <td style=3D"padding-top:40px;"> <a href=3D"https://comm.coinba=
se.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca5637196741=
8192255878e9689713%26_m=3Dfbd01e0cf2654779a3689d68e0bb96ae%26_e=3DzlzL4d3mr=
cfO3hiQ7TGzxDp2pRB-E1xTyak953C8skDW8EXt9-c9RK1HsghjNdpxdsIxqYC0jyg6IESXR0ah=
ny_5Wbp6Gpw537esnn-Ae-KCNMJni3IPHdHcgQX560GfbRlKX1SG9zAXSaeWQjjRa0D6xz2ZxUq=
TyQpTBiHgfI4jD8oP0BOYWw10bD7psZoY8pMhgIitx-RT584q6OshWYTfHKEsEotJtEdY2lscKk=
nTtuE-wgb5P87_liZxoZMGcOOGXASQ51sKkNHKmKhexRMg6RBWRpL4jMGL0oWpXsA8XAnOwoGlV=
5RNKEfnnf3J5IezeYQL2P9l0T5mUIAVKz2CTcc3saFx5c7U9TLsMp0%253D/1/0100018a488ee=
7ff-d1a935fb-3764-47a4-958c-336ae41b8e31-000000/MSYCXTTXfc13nuwm_gc9agI68ZI=
GZfiWzTsXWHzAhb0=3D316" target=3D"_blank" style=3D"text-decoration:none;col=
or:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;vertical-align:to=
p;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integra=
tors/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/=
up-arrow.png" style=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertic=
al-align:top;" height=3D"12" width=3D"12"/> </td> <td style=3D"padding:0;ve=
rtical-align:top;"> <div style=3D"text-align:left;margin:0px 0px 0px 10px;l=
ine-height:1;"> <p style=3D"margin:0;"><strong>Ethereum</strong></p> <p sty=
le=3D"margin:8px 0px;"> =C2=A31,338.62 </p> <p style=3D"margin:0;font-size:=
12px;"> +1.70% </p> </div> </td> </tr> </tbody> </table> </a> </td> </tr> <=
tr> <td style=3D"padding-top:20px;"> <a href=3D"https://comm.coinbase.com/C=
L0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca563719674181922558=
78e9689713%26_m=3Dfbd01e0cf2654779a3689d68e0bb96ae%26_e=3DzlzL4d3mrcfO3hiQ7=
TGzxDp2pRB-E1xTyak953C8skAGuH--3owSxiFPU5l2uCTaEViskPGAsI9RYv7qn6BTio_sih9u=
R66IW87fSPrOAQWghBjys1ARPURkjCvj8FmQu4fYK2zENVbPD6TL7sFBq26gfzZQHs22R1KfWab=
nev8fB6q2lawkQEj89Xtn9U9jC-VcbRLLVZQT_FVTKoV-xkmfVP0nz5Z7-JDDr5Snka69jb5KvJ=
Fw7o5UaxzOxJgQSUnL-gGx2Q_rmXCwivgOekty6f2ga4FTiCfEZuCUv_X-4IGCIcwgbqoc8hMIq=
0iXwgzNQn10tqKf_FSI85RYb5f5IaNBw66kcofd4Fk1k2o%253D/1/0100018a488ee7ff-d1a9=
35fb-3764-47a4-958c-336ae41b8e31-000000/NIRJrLpS_sUU7OsojHfzE5d9QN0JKwLTtRA=
QNeTf8L8=3D316" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B=
0D;"> <table> <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <im=
g src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669=
d5713-9b6a-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-a=
lign:top;"> <div style=3D"text-align:left;margin:0px 0px 0px 10px;line-heig=
ht:1;"> <p style=3D"margin:0;"><strong>XRP</strong></p> <p style=3D"margin:=
8px 0px;"> =C2=A30.42 </p> <p style=3D"margin:0;font-size:12px;"> +0.12% </=
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.coinbas=
e.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3Dfbd01e0cf2=
654779a3689d68e0bb96ae%26_e=3DzlzL4d3mrcfO3hiQ7TGzxDp2pRB-E1xTyak953C8skAQ5=
tVm46A_tT2oHOLPjY66qjgZqeTMhu5cvsrVwMTy4FNbau9WRpuxuJ1RyvI7LP7yUxdLkXsdon0d=
7mk1StoqW8G7n8Q0z_B6aOc3fLlIfAmzruVoBp1E8HeFP7nNJxXCYr77nYVHQ7lVHiaksnISkgy=
2h-M3UhHZWJpYuk__KMlWk-ZGA5kni5Qepori5c3MJx2yYoUnwAb5DedqRaybzHDi0iL_kAK6h4=
tsEj5s4R_26wRXZ7nr8wsfirKLc8d4WftQeqVcpxC5EesfslAhUwMQysMPQ1MHmP2kFs4W-y2ZC=
kUrMzh5e2yeaGs0zfM%253D/1/0100018a488ee7ff-d1a935fb-3764-47a4-958c-336ae41b=
8e31-000000/5YFaHnrK6qeZc-XrN665-7X8XtaAyCtHfQPq6u56cRg=3D316" target=3D"_b=
lank" style=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <=
td style=3D"padding:0;vertical-align:top;"> <img src=3D"https://d15k2d11r6t=
6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff=
6dd6a/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 style=3D"margin=
:0;"><strong>Cardano</strong></p> <p style=3D"margin:8px 0px;"> =C2=A30.21 =
</p> <p style=3D"margin:0;font-size:12px;"> -0.43% </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%2=
Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3Dfbd01e0cf2654779a3689=
d68e0bb96ae%26_e=3DzlzL4d3mrcfO3hiQ7TGzxDp2pRB-E1xTyak953C8skB7sB9mbsKe7gRb=
ZEL8lYAL6ibZdnTo2FbFJH8qF6lsGdnggSy0NFLp284oZCDX8Ip7uQS8XLkhMh7lQ5VQm9018py=
g4fpy1IBCKwRA7sXt_Fpg7aRnIY325PmWm8NQg8GMmp8JVhRkneoAoC-btpxNj7UCgcHMJlZF8D=
j_y1mWnbSnODBlXd2n7RfE66jvf1uAriuhEBqGteQ4Xuw-tKqwNxEO4ii_D4yU0OmHg5A0Lokoj=
CeoXiGo78FAmd-vUW456P4IxjHh7PZ37n2Et3P5jUZRk7Ljbk16wv8cmgPofDY09F6dyYa1uet3=
1qfbrLA%253D/1/0100018a488ee7ff-d1a935fb-3764-47a4-958c-336ae41b8e31-000000=
/SjqYP7ZUiUfDvR-83gPJ3ZOKwrNGvmgafs7Ehj-BrSU=3D316" 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.cloudfr=
ont.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5=
6371967418192255878e9689713/up-arrow.png" style=3D"height:12px;width:12px;m=
argin:2px 0px 0px 0px;vertical-align:top;" height=3D"12" width=3D"12"/> </t=
d> <td style=3D"padding:0;vertical-align:top;"> <div style=3D"text-align:le=
ft;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 styl=
e=3D"margin:0;font-size:12px;"> +3.41% </p> </div> </td> </tr> </tbody> </t=
able> </a> </td> <td style=3D"padding-top:20px;"> <a href=3D"https://comm.c=
oinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371=
967418192255878e9689713%26_m=3Dfbd01e0cf2654779a3689d68e0bb96ae%26_e=3DzlzL=
4d3mrcfO3hiQ7TGzxDp2pRB-E1xTyak953C8skB9aAxm6Fp2CqCSWJijGOGYYY8DVbd3NiULm4p=
3eYfjkQEVZ6MzeeCayJwY-lQisaICLezMfBvuUhMiXRYtGO3--HALJW00wmMTt_kfujPAVTCHAQ=
aAjn6PeAH0YFVdlUt8YgRgrpioNYL_JMdZLpeDzEuD7sFXDeGrbzTAvCJctkx7oXLRGW2uEkJ_b=
xqbr8_faDAWdqmw0kSZyBTS0jkBrk4PxfnMY_N6i4GinVqH-gD4N9PSFzk9GSxuyigWNuznzoN4=
wPeOpVpkhkwarU49vzU5fNRRRlMekODrK207K9KwtVRhCRU4h5js9BdZKV0%253D/1/0100018a=
488ee7ff-d1a935fb-3764-47a4-958c-336ae41b8e31-000000/kmhOWTldfPRpLYgXa7A6jC=
yVWAAOPKGUxcuGRrJ6i9Y=3D316" 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>Solana</strong></p> <=
p style=3D"margin:8px 0px;"> =C2=A316.38 </p> <p style=3D"margin:0;font-siz=
e:12px;"> -3.25% </p> </div> </td> </tr> </tbody> </table> </a> </td> </tr>=
 </tbody> </table> </div> <!--<![endif]--> <div class=3D"mobile_hide"> <tab=
le style=3D"width:100%;table-layout:fixed;margin:0;"> <tbody> <tr> <td styl=
e=3D"padding-top:40px;"> <a href=3D"https://comm.coinbase.com/CL0/https:%2F=
%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%2=
6_m=3Dfbd01e0cf2654779a3689d68e0bb96ae%26_e=3DzlzL4d3mrcfO3hiQ7TGzxDp2pRB-E=
1xTyak953C8skBN1I-P3sUkpFpnCbn_lnpeiCANkbPeqfeiILDWcrcw2vZjZH9NSYhwwkmutvIG=
WoTMZJsGxmPZgep_lGy4jf8T81Zrngc6C_roJ2sLteS7kKScNPN1_rGJG-UL3fgEhZGPJnCJQf4=
8vFppdqB4d54VBQ0kona2lDKVaFsdtbVWCV4c8Glqo3fWDdwSOmK7LbRKET8q_tAk3yPjuVU8N6=
dgDiZ-9J8s7Ztdn1sO_zTKxbqwAplA7ds1hM4thZygUASkjG521etSBonX8JXOglluARc1bZmMM=
KkskOEcq-Nh6P1g1ZYTatJUrVW0Um0goL8%253D/1/0100018a488ee7ff-d1a935fb-3764-47=
a4-958c-336ae41b8e31-000000/izGC0kHvFOdPj3ds2lrmEww2aCNogpPVfNac_hkQcq4=3D3=
16" 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/up-arrow.png" style=
=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-align:top;" heig=
ht=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>Bitcoin</strong></p> <p style=3D"margin:8px 0px=
;"> =C2=A321,432.18 </p> <p style=3D"margin:0;font-size:12px;"> +3.59% </p>=
 </div> </td> </tr> </tbody> </table> </a> </td> <td style=3D"padding-top:4=
0px;"> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.=
com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3Dfbd01e0cf265=
4779a3689d68e0bb96ae%26_e=3DzlzL4d3mrcfO3hiQ7TGzxDp2pRB-E1xTyak953C8skDW8EX=
t9-c9RK1HsghjNdpxdsIxqYC0jyg6IESXR0ahny_5Wbp6Gpw537esnn-Ae-KCNMJni3IPHdHcgQ=
X560GfbRlKX1SG9zAXSaeWQjjRa0D6xz2ZxUqTyQpTBiHgfI4jD8oP0BOYWw10bD7psZoYySDQ7=
SWvHsV3t-kYaQlzEHh2KF8W_bTCtX7ptEhabHxtYmWO32IEDyWpSOt_YQpSfwjXLlZ500LfM3UD=
mKm61a-5XgYazFOS6IuJR5Gah3XemJopfugQwd3N9QbaMPdmCJGuD6CIuNPFmqZqyRHkrZe0dY3=
1SToAed2Av14XzDY%253D/1/0100018a488ee7ff-d1a935fb-3764-47a4-958c-336ae41b8e=
31-000000/flwDxW8U4R1gl8KYxIDZ0bzU1OmEX46J1PxIpF7R4IQ=3D316" target=3D"_bla=
nk" style=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <td=
 style=3D"padding:0;vertical-align:top;"> <img src=3D"https://d15k2d11r6t6r=
l.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6d=
d6a/3aca56371967418192255878e9689713/up-arrow.png" style=3D"height:12px;wid=
th: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=A31,338.62=
 </p> <p style=3D"margin:0;font-size:12px;"> +1.70% </p> </div> </td> </tr>=
 </tbody> </table> </a> </td> <td style=3D"padding-top:40px;"> <a href=3D"h=
ttps://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_=
t=3D3aca56371967418192255878e9689713%26_m=3Dfbd01e0cf2654779a3689d68e0bb96a=
e%26_e=3DzlzL4d3mrcfO3hiQ7TGzxDp2pRB-E1xTyak953C8skAGuH--3owSxiFPU5l2uCTaEV=
iskPGAsI9RYv7qn6BTio_sih9uR66IW87fSPrOAQWghBjys1ARPURkjCvj8FmQu4fYK2zENVbPD=
6TL7sFBq26gfzZQHs22R1KfWabnev-YtVVUpEJ2A-N9rb35tRMjgDuDR7cwrQfjc2oxt-TB0W63=
gwSRUCg9cSllJ3EJDSPzK1uFTSTLDuPfcBJ0VStUFmYzlV7JRyJdSH7oYADhMMCrXqxJ36cD0ug=
qj04g1iVp5C6PpvC-ZVHAWntvM4fmsSoeCklLHmNHdGNeJHiG-Cvw4iqV21k_CZasiL--uQY%25=
3D/1/0100018a488ee7ff-d1a935fb-3764-47a4-958c-336ae41b8e31-000000/cVWGb2ONW=
no0b4nPiWyQu8Eik5zF46YQYjlHXbRNro4=3D316" target=3D"_blank" style=3D"text-d=
ecoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0=
;vertical-align:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/pu=
blic/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418=
192255878e9689713/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 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>XRP</stron=
g></p> <p style=3D"margin:8px 0px;"> =C2=A30.42 </p> <p style=3D"margin:0;f=
ont-size:12px;"> +0.12% </p> </div> </td> </tr> </tbody> </table> </a> </td=
> </tr> <tr> <td style=3D"padding-top:20px;"> <a href=3D"https://comm.coinb=
ase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca563719674=
18192255878e9689713%26_m=3Dfbd01e0cf2654779a3689d68e0bb96ae%26_e=3DzlzL4d3m=
rcfO3hiQ7TGzxDp2pRB-E1xTyak953C8skAQ5tVm46A_tT2oHOLPjY66qjgZqeTMhu5cvsrVwMT=
y4FNbau9WRpuxuJ1RyvI7LP7yUxdLkXsdon0d7mk1StoqW8G7n8Q0z_B6aOc3fLlIfAmzruVoBp=
1E8HeFP7nNJxWSdKN4nvrxws9PNEfnAP31lQ0XKZ4HrQY9rWJ8M7xB2gRrohbFQSpZUkiYbWya1=
agEe4QGJ4rkzkIViTS5xNEnYJkMwxJkEZIEmNZwQ1pk2VPSCe6Odv3ypvxdS6YhWVUFCaOIKF7I=
2684xpppLqqA7VFM-c_zaggwddV2N6w4i9zRTHEfgmITq5wXoEBIxZ4%253D/1/0100018a488e=
e7ff-d1a935fb-3764-47a4-958c-336ae41b8e31-000000/b3OKkjrfPZwt7ZQx3FgLqZ5I5p=
_SpZXq-ozuNpCq6wg=3D316" target=3D"_blank" style=3D"text-decoration:none;co=
lor:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;vertical-align:t=
op;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integr=
ators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713=
/down-arrow.png" style=3D"height:12px;width:12px;margin:2px 0px 0px 0px;ver=
tical-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 10p=
x;line-height:1;"> <p style=3D"margin:0;"><strong>Cardano</strong></p> <p s=
tyle=3D"margin:8px 0px;"> =C2=A30.21 </p> <p style=3D"margin:0;font-size:12=
px;"> -0.43% </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=3Dfbd01e0cf2654779a3689d68e0bb96ae%26_e=3DzlzL4d3mrcfO3hiQ7TGzxDp2pRB-E1=
xTyak953C8skB7sB9mbsKe7gRbZEL8lYAL6ibZdnTo2FbFJH8qF6lsGdnggSy0NFLp284oZCDX8=
Ip7uQS8XLkhMh7lQ5VQm9018pyg4fpy1IBCKwRA7sXt_Fpg7aRnIY325PmWm8NQg8GMmp8JVhRk=
neoAoC-btpxNTyW0rnPPWvIaL6spj29_657409AsbV7C53li4L9cRcfG8wSOfOAqtLWQK0LAU4B=
kZzL5kn3ceYw8GbfknhOjPqMimcI7tbclIYjklaDbEIXr_gEDusFjY7Ws8pf8e60xQATUX_Q1a-=
BOr-RHpqXIoYgK-XBg6_OBxg8T9c5zG58%253D/1/0100018a488ee7ff-d1a935fb-3764-47a=
4-958c-336ae41b8e31-000000/KzkrBBb6zC4QRBPflj7drIGJi5mZAeL9Z31bSYRSEP8=3D31=
6" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <table>=
 <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D"http=
s://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46=
bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" style=
=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-align:top;" heig=
ht=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>Dogecoin</strong></p> <p style=3D"margin:8px 0p=
x;"> =C2=A30.05 </p> <p style=3D"margin:0;font-size:12px;"> +3.41% </p> </d=
iv> </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=3Dfbd01e0cf2654779=
a3689d68e0bb96ae%26_e=3DzlzL4d3mrcfO3hiQ7TGzxDp2pRB-E1xTyak953C8skB9aAxm6Fp=
2CqCSWJijGOGYYY8DVbd3NiULm4p3eYfjkQEVZ6MzeeCayJwY-lQisaICLezMfBvuUhMiXRYtGO=
3--HALJW00wmMTt_kfujPAVTCHAQaAjn6PeAH0YFVdlUtKcZJ2m6QG3AvSxo42x6d59CMOM6H-T=
-_1tZQk8TYV6o85CsD4mWCjVlIE8PEQ8uYmjHqv_V1sc1XTuIQA8U7nSS0vHGzBaQlaS8H5pGm3=
vGPNGX_c72PVMWP5PxrLhtUhHqNTPGY3Ztz56tJFJyQIqW3hLFXHvbibovhHZblgiZDwiOAEB7J=
jgmh7IfCStr8%253D/1/0100018a488ee7ff-d1a935fb-3764-47a4-958c-336ae41b8e31-0=
00000/BR2Osjs-4Z-3q4K40lAw9n8cCabv9K7p-EswU60zRbE=3D316" 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/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-a=
lign: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=A316.38 </p> <=
p style=3D"margin:0;font-size:12px;"> -3.25% </p> </div> </td> </tr> </tbod=
y> </table> </a> </td> </tr> </tbody> </table> </div><p style=3D"margin: 20=
px 0px 0px; line-height: 1.5; word-break: break-word; color: rgb(91, 97, 11=
0); font-size: 12px;">Price changes are for the past week, ending on Aug 30=
, 2023 at 10:26 PM UTC</p><div class=3D"cta_button" style=3D"margin: 24px 0=
px 0px; padding: 0px; width: 50%;"><!--[if mso]><table width=3D"100%" cellp=
adding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"border-spacing:0;borde=
r-collapse:collapse;mso-table-lspace:0pt;mso-table-rspace:0pt;"><tr><td sty=
le=3D"padding:0;" align=3D"left"> <v:roundrect xmlns:v=3D"urn:schemas-micro=
soft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:office:word" ses:no-trac=
k href=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e=
9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxDH7=
dXQF8nlzKaLogG19ftIxTP8lnzfVvUyJxBuYoNQsQd9OSNPaXqb15v8XTwxB0RTsA8xDP9HD2-y=
jVyrufZQSwBWbpwlooxzT_LQTnz6jrRdyyCx7CwmeqcTvai_hiOcBoUinmmSRYF40aOxmtICrJU=
9iYz1T7q6jWjTWD82GQRxm9yz17i6hY0mufCvCFMgaYc_B50GpIC0A-d7wcAsmxtQ7rqULx23Ia=
Gk7jVEkAuv-9ZAudgAQnOAqvvLM5hqXIgmqjEFnQqf1qFUqWzEdoRySHpouF7p3Z3jE_sUb" st=
yle=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;"><![end=
if]--><a href=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192=
255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7=
TGzxDH7dXQF8nlzKaLogG19ftIxTP8lnzfVvUyJxBuYoNQsQd9OSNPaXqb15v8XTwxB0RTsA8xD=
P9HD2-yjVyrufZQSwBWbpwlooxzT_LQTnz6jrRdyyCx7CwmeqcTvai_hiD0clX_ob_deMu2Ho5g=
j__fPLxHx2Kj4ijfSbjLNP-ncDol1R2jaWZDm6lXE81vCpA5JHQH4IaDQINuG2XC0mecmIRj2di=
wV6UP-_ns1lEZEfQPr7rzvLuhRs-QYvBVOFC_6f8oB5J9k6s47U1n1M540hifKjRRFmgVrZrmmj=
faM" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"display: block;=
 margin: 0px; line-height: 1.2; font-size: 16px; text-decoration: none; col=
or: rgb(255, 255, 255); background-color: rgb(0, 82, 255); border-radius: 3=
0px; text-align: center; padding: 18px 0px;"><strong>See the latest prices<=
/strong></a><!--[if mso]></center></v:textbox></v:roundrect></td></tr></tab=
le><![endif]--></div><table width=3D"100%" role=3D"presentation" style=3D"t=
able-layout: fixed; vertical-align: top; border-spacing: 0px; border-collap=
se: 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-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; ver=
tical-align: top; border-spacing: 0px; border-collapse: collapse; border-to=
p: 2px solid rgb(222, 224, 226); width: 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><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/users/Int=
egrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689=
713/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; vertica=
l-align: middle;"><p style=3D"margin: 0px; font-size: 16px; letter-spacing:=
 0.075em;"><strong> MARKET UPDATE </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>Crypto rallies after Grayscale court victory lifts=
 hopes for new bitcoin ETFs</strong></p></div><p style=3D"margin: 16px 0px =
0px; line-height: 1.6; word-break: break-word;">After a sleepy summer with =
stubbornly stable prices and historically low volatility, crypto markets ha=
ve woken up in a major way as autumn approaches. Earlier this month, <a hre=
f=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e96897=
13&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxDH7dXQF8=
nlzKaLogG19ftKnXL3pW6zhDWKWuXFk7Eo1SeY-xWiUWJrhjaThGSXLlKy_vYW0qvmM9zlG7Aii=
zyc5oNtOUGxeEeH0SRihzcY28pvkYr6WOshx3EevrzG0eMFGr-QefEn6xbk6ALemLtivbrZn7fq=
jB88Ee9v9ZOI5aqzyEuIQW7Q5Rwd4lEJG5YVC_CNnqvEjKnvTJg_TJ0lGNYcRDShEPzgxZcNfQc=
kODCKw1o8wcj4Gsp_oqTJ3RCvdtYjsFSkk-LVyo7Nu-deRzXyl1yXyYKwanYxfTEVdvjNp0fhQM=
KTKNiHHMUD66iOg6GA-mKQ1KMBJAZghJvXrIYwVc5Rs5zWW4DfNY9KC" target=3D"_blank" =
rel=3D"noopener noreferrer">markets tumbled</a> =E2=80=93 with nearly 12% o=
f BTC=E2=80=99s market cap erased in a single night. <i>This</i> week marke=
ts flipped again, with a wide variety of cryptocurrencies (including BTC, E=
TH, and many altcoins) roaring back after digital asset manager Grayscale n=
otched a legal victory that could have major ramifications for the crypto i=
ndustry. Here=E2=80=99s what you need to know.</p><p style=3D"margin: 16px =
0px 0px; line-height: 1.6; word-break: break-word;"><strong>Grayscale=E2=80=
=99s legal victory could open the door for =E2=80=9Cspot=E2=80=9D BTC ETFs<=
/strong></p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break:=
 break-word;">On Tuesday, the District of Columbia Court of Appeals <a href=
=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e968971=
3&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxL3w6nG18f=
XGapQYYB0SQcGEhEcKwYSqaX2SwltLe9JUPQhKlEx5lB0acf_abT7uWmPh7so-SARnKSmthbWum=
rbyly3blcbpbchBfnY0htFZOkW-YNOKlQQqxlIKfIFEhQH4l2sc90xEjJ87TWRVX0dzzZ1-Jgzc=
jDETEWDbKZzhv8kJVYtzVk6PJRN17kAG-XTk6CJ3_6xJ_4Xj9pJlC_cQA1_8gFmcrVsMsYM0wRj=
tM4FyphvONUjXoyRFv8DjwjMKRajNNwVSYNZUMGqkFPQKvSLPJ0J8S1Ym7pSl1mFdQlLOU0UNve=
SvhMggIWImFdSc3xA9aknIFoeadjAUmpkJHCmm6CfFA9GJzncF1Dd9mG3KkpADAIW_ZGkE5IOuD=
pTAfAVzcTGP9HTqZKRfQ3V_yJf3wLyWTgeJADJADIe5" target=3D"_blank" rel=3D"noope=
ner noreferrer">sided with crypto-asset manager Grayscale</a> in a lawsuit =
the firm filed against the Securities and Exchange Commission (SEC). At iss=
ue was Grayscale=E2=80=99s denied application to convert its Grayscale Bitc=
oin Trust product into a =E2=80=9Cspot=E2=80=9D exchange-traded product (ET=
P), which would buy BTC and sell shares to customers via conventional broke=
rages. (Exchange-traded funds, or ETFs, are the most common type of ETP.)</=
p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-wor=
d;">Grayscale filed its application in 2022 after the SEC approved <a href=
=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e968971=
3&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxDH7dXQF8n=
lzKaLogG19ftIoj28rnoCUdKE-9rBGGvBQYhFak3G1KF_i69UjqGi3rPWnvb0_OrtI3jTQfD2-5=
YDgWX1cIJ4POFd8DLt9bQn80mgTty6EYMw0Cnww2zgNCyoJyZ4oAP4irZPoemTTzsDgbwFLeq56=
uTerdbO9yx2c6onAvVI3cNED4dk1nsq-eeqrEhRAYauXCzqPYI6gO5Mr0XtgJ5699ciTh2ti4x1=
2MbdTuBDpN755y5f_JFIotUY27CYYEiePs5pP5CyMGfovwqi3lG2uPScsvoKqPawkAeJp_7giUG=
1sF8rPPj_33DGKjAx2ZvP-_dK8qtFyVBEHqJpeF9qi6EAgGDdvIY3c" target=3D"_blank" r=
el=3D"noopener noreferrer">similar BTC futures ETFs</a>, which buy BTC futu=
res contracts (as opposed to BTC itself) as an indirect way of providing in=
vestors exposure to crypto.&nbsp;</p><p style=3D"margin: 16px 0px 0px; line=
-height: 1.6; word-break: break-word;">Ruling in favor of Grayscale on Tues=
day, the court noted that the SEC =E2=80=9Cfailed to adequately explain why=
 it approved the listing of two bitcoin futures [ETFs] but not Grayscale=E2=
=80=99s proposed bitcoin [ETF]. In the absence of a coherent explanation, t=
his unlike regulatory treatment of like products is unlawful.=E2=80=9D&nbsp=
;</p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-=
word;">Or as Fortune crypto editor Jeff Roberts <a href=3D"https://links.co=
inbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654=
779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxC6wslGUXRReBpPNEXKPqWB0VoczgA=
cPyEP5Q-OumtKsR5b_oxiYFQC56c1cPJ1kf4_HGjVG0X8PKDZbuljkhuoXkw7YNXQIOC5e8Ki2e=
Mkm5q5uTDuPElKSHjpljDF7JfqoAafu8lRRlsuficfa79xEG_4yMEs6D7xSl96G0vmWj37rbQM6=
r4ckRpHPqLqLMz0LTMX0LajSHr4gUuQpUpvlxasPjxVDc4vw0W85LhpvdPt9lyY-KbOj65TLcvQ=
MvRSgNWVs7W8zPzgdGLTOcXLhegOSB5o_GhAzZYPA1L6mAtNykl4XXJBA0zeQyl30m4kDsaHXr9=
MXqmTShp_ZiZ2mR2uMlCZ0gaM7H9Oxh--c1d434zgJpKliKLMfvjWer2zSfYghF2lwUXQoNw9q7=
p0%3D" target=3D"_blank" rel=3D"noopener noreferrer">tweeted</a>: =E2=80=9C=
In plain English, DC Court told [SEC Chair Gary] Gensler: =E2=80=9Cyou say =
the price of bitcoin could be manipulated but the SEC approved a futures ET=
F =E2=80=94 and there is a 99% correlation b/w spot and future prices.=E2=
=80=9D</p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: b=
reak-word;">=E2=80=9CWe are reviewing the court=E2=80=99s decision to deter=
mine next steps,=E2=80=9D <a href=3D"https://links.coinbase.com/u/click?_t=
=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_=
e=3DzlzL4d3mrcfO3hiQ7TGzxKISBlrEgrxrYedzd8PBbeOrulnBRap3seEr_MxwDaJX6oZVWWk=
PKzqgcsDEhpx1ADh5k5ETpSTRub0NxOliUZbnu9Vsd2WBcqUk1IBd-Sg0b1nnyQ7J_HUn5KETdd=
WORS_4Qw_EwSn9q-vjEkJDEbsC2I7HXBstKwF7mGcnxfS2VeV4WswRMfXJmAwoamoLOJscY4nL8=
aIElptD8EoQYgVPcFapCM5W-1DjE_ieUVKbJkOmRB0bpqgYwCUxsmc6S-t214DjejjLJfQUBv9Y=
AAQuChrakX7g8NHLfuhTiI9p6ikhU7Dk033ZMdta-MRXae0D_QA4Mbx8Q2NoMrSGTCEidk0gvov=
Yrgg7CpbM3PDa5dIxmfv4TZgQfxfnv76Y0femgT_7VkLnuoI_9vv7WvOvvNFwyJxzHl7BtXY6zc=
0exPBdUxWL4zggn8RLNTDQce6OJZyoHU4JZzwAjclHBSVHHrqM3mFdwY-O58XRHVP6m0AdpOfls=
itNLU4Sxjub-p0cvtrK_z2NXgTsB_9_TUgtxpLMLdw-ma7r3dElCm8iQIEKA_7FxlaXz-ZM1XxJ=
XBVzdKcsbOeFuu_Pj2EOVrJQ9Tsku4i8jbO7DdC0LEPEPRR1F8I2te5pvcl3nYxNrw%3D%3D" t=
arget=3D"_blank" rel=3D"noopener noreferrer">said</a> the SEC in a statemen=
t.</p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break=
-word;"><strong>Why are spot BTC ETFs a big deal?</strong></p><p style=3D"m=
argin: 16px 0px 0px; line-height: 1.6; word-break: break-word;">ETFs are a =
hugely popular asset class =E2=80=94 with <a href=3D"https://links.coinbase=
.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a36=
89d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxOj_SbZ5s5mt7KmH_wF4QoUBbH_ymeMq4ERU=
wWJwPFhp5fush6t9NVL8EkJkNrHU-t8jzO2PV4q18T7K9AYYuAXQYDMUW_6e_0D0EAMUmmtwYnh=
wFC3PdpBmMGXS7yYGCnY0E34TAnT6VaNI3DckjO8EHEYRAETFPhF6qjsCesCEu0j3ZsQICHmCD0=
ln-aH3NqOURQ26M7bHIMmay-n4HALtxGVgY-duYf9nqlgzwgNJ-1Y2L4Q5UvK784IIBovo_-YUn=
uey4ktF6j1zJLnzVwn4Tj8FPp5NdyTod7TksdgUuitPCUoJFoadR3gF29Hn2jMbfWnvqIH-dx0h=
7hvnvW-GJOz2ppEDVYsitlui1Igp" target=3D"_blank" rel=3D"noopener noreferrer"=
>more than $10 trillion</a> under management worldwide =E2=80=94 that are s=
imilar in many ways to mutual funds. They generally track the price of an a=
sset (like gold) or basket of assets (like the S&amp;P 500). And as their n=
ame suggests, they trade on exchanges and can be bought and sold like stock=
 via a traditional brokerage account.&nbsp;</p><p style=3D"margin: 16px 0px=
 0px; line-height: 1.6; word-break: break-word;">Spot BTC ETFs are widely s=
een as a potential way to increase mainstream adoption of crypto =E2=80=94&=
nbsp;and such products are currently being pursued by some of Wall Street=
=E2=80=99s biggest players. In June, <a href=3D"https://links.coinbase.com/=
a/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68=
e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxDH7dXQF8nlzKaLogG19ftKR_VLx8jgcIDzoSHeRE=
Vn0C6_emG9lGuVYkbs5ctGg9eNajvxij5NAJgp9K8m_Nxxt_QKxFj35h_S2Qzq5Q2dI5RsbhK_H=
7uQnuxJsEocgiUzUUVMZpVmoYOPOMJrv3-laAIfsohGNRNt07uM3xMQ78W3nW11nm8dD3F1Bq-O=
qFA0loRYm5M0UOuwS17OHhxywn0Q0oK3gNpnvypXDw0OwNc-vEsVCHRrXCl2YEUFa-c2Cuex6H2=
O9vT18yKnR9SFE-I6nrgCUpRjsnd7WPAb6UdnoKrOkV-MUPUxaRc07fJ6Opuc6aV_bVhR1Huqii=
UVoBmts6RM2m-jxLgIBlB7o9MmqBl6pHE-xpZvt_Y-2MQ%3D%3D" target=3D"_blank" rel=
=3D"noopener noreferrer">crypto markets rallied</a> after a wave of spot BT=
C ETF applications from asset-management giants including BlackRock and Fid=
elity.</p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: b=
reak-word;"><strong>What are experts saying about the ramifications of Gray=
scale=E2=80=99s victory?</strong></p><p style=3D"margin: 16px 0px 0px; line=
-height: 1.6; word-break: break-word;">Market watchers speaking to publicat=
ions including <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371=
967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3m=
rcfO3hiQ7TGzxBwtktx6gs9ELzOBuqgavBTejiO4R0Cr8YbXJHrgZK9wd-jai8PLp3qgQ5PwkAB=
HYWan5HkrsZ2Cgd_6YD8VvPP5g3lyCRUJTHiJvkLhwiTT4Vp6SjoiPNqmHLhVo8PPWP42nwcNJN=
XgL1hkrZ3j_m7f0ztZiudnOVod3Pv_czURNC0XrLcFZuzq1G22LjCfpC3Vx1Prs6BnTYygItxJw=
Ig_d53Q0gJ3M0o5XksycS6pxOEviAD6bouj3dnXtqdOx3spuqFnY9Cl3F3-D2I4dKh9mWCX4_iE=
xRU74WHPo4MBVOGkXrATvGp1f8xKHa7Crm_rw1HGT9kJClioBocEXPFFbR9UF1d2DDB_Ao283p5=
7cUur6WDKUBWlpM1yR4LiKkEybqg6OqhvjMra75x22adHSICR1F7Wu6M-WxkIljQ9PK7h0MFysl=
9TrC0fYCfdEQ%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">Bloomberg=
</a>, <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192=
255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7=
TGzxCPDwuPrExbsn8HdzjiMKVRB0C2AMc9ERH1RKVO_7wB37JZRN7g5najjj3_Zv8KLTVURVeQy=
jtscEjAlHoHnLx0RWl7CEs7oQwdYZbetIglupfbAW7NC6LWAMiGrz29dwusKyIrzb2yh20D0a_0=
IyhLH_tRVcKCo5R-NWXtpFZvYg7gYedjguyagRF-2RFNf0sTUIaghUfAR9VO75Mb6-wyVNcAiht=
d8QBGPymeCTpiure_vy1MvFQAy48Im8JJTBZ6X0lCLKpXL3eCTjKSbK2jCI7ikBBTxnxTcuilDj=
4UhnUbcdGfN-GdrAKUaG4HImdU1O6MqzUzzGQ7j5Sk_CbxCAk2lc-qvO6z8JEkEzQt2_Esa2Qfv=
9OJURvCwbH5jvzCfcDL4DIzHDIBH9mzlgpo%3D" target=3D"_blank" rel=3D"noopener n=
oreferrer">Fortune</a>, and <a href=3D"https://links.coinbase.com/u/click?_=
t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&=
_e=3DzlzL4d3mrcfO3hiQ7TGzxKISBlrEgrxrYedzd8PBbeOrulnBRap3seEr_MxwDaJX6oZVWW=
kPKzqgcsDEhpx1ADh5k5ETpSTRub0NxOliUZbnu9Vsd2WBcqUk1IBd-Sg0ZLxZzdGp0voMuIg2Q=
NZyiPHlbfAAUn-454yolaILdsJkCX7ElL8M-ePQoegkHTv0HN1OWCwaFd8Xl7ov-X16XpTHV4wJ=
QHDwOh7lHhxOE8X4uhAn5cxq382KeEOoS9VNbctbyFPbW8wewkjjl6Zg1WxrXvhZ2ZZT1YfyMVB=
NWTGhqyhQzQPPJdcSTy9STzWW3GYCq0GhZQcL_tULVyVRTlQKNExifKRw7DEH12-q036HglAbsL=
aQkfex380EO2cE-xHJYR7wT4vjwCRw6xFu4Y09REwBBm4RbIyxX3ZQNUY%3D" target=3D"_bl=
ank" rel=3D"noopener noreferrer">the Wall Street Journal</a> generally indi=
cated that the court=E2=80=99s ruling makes a positive outcome in Wall Stre=
et=E2=80=99s spot BTC applications more likely.</p><p style=3D"margin: 16px=
 0px 0px; line-height: 1.6; word-break: break-word;">Some were strongly bul=
lish. Speaking to CNBC, CoinRoutes CEO Dave Weisberger said: =E2=80=9CIt vi=
rtually guarantees they will approve BlackRock and Fidelity. Grayscale may =
need to refile, but they will almost certainly be approved as well.=E2=80=
=9D&nbsp;</p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break=
: break-word;">Others were more measured in their optimism. =E2=80=9CThis i=
s huge for crypto ETFs and for Grayscale,=E2=80=9D <a href=3D"https://links=
.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2=
654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxBwtktx6gs9ELzOBuqgavBTejiO=
4R0Cr8YbXJHrgZK9wd-jai8PLp3qgQ5PwkABHYWan5HkrsZ2Cgd_6YD8VvPP5g3lyCRUJTHiJvk=
LhwiTT4Vp6SjoiPNqmHLhVo8PPWJzPR8-lqI16qmE7kl3ZaPEBxlcydI-XOWTuDSO1YQs7nKsDt=
bY2-rpardbbUfeLRT0xLVHSGiaB3GeYeGnA3ScqEdysQQnxk8ZpiiXgM3IQo17KiCETLiBqWZ-L=
QTbGDZKOlc83tYKaoXCJVVZXKXXr2MFyGB6vl1ZOPoc8oxoa_Hq8YqYQloZzV_b54rgeZed-LI1=
b4JgRS5JG11T7G7aHCEwm9-2oRDs9VS4hc32rADN8nlga2zUAQlXG6iZxnCQ0YmPHN9dMRQlH0U=
6WgScn3hgfeWv91GgGC484PJPGXziLb3MmxBiTnMLwBD9VvTgGbMj48vB7GE-5tXod_VyZStBt-=
jnLGPXp3om-nfL7" target=3D"_blank" rel=3D"noopener noreferrer">said</a> Blo=
omberg Intelligence analyst James Seyffart. =E2=80=9CThat said, this doesn=
=E2=80=99t mean unequivocally that we are immediately going to see GBTC con=
vert into an ETF or get spot-Bitcoin ETF approvals. Though it makes it more=
 likely.=E2=80=9D</p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; wo=
rd-break: break-word;">According to Bloomberg, the SEC is expected to begin=
 responding to filings <a href=3D"https://links.coinbase.com/u/click?_t=3D3=
aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3D=
zlzL4d3mrcfO3hiQ7TGzxBwtktx6gs9ELzOBuqgavBTejiO4R0Cr8YbXJHrgZK9wgb6oACL7Tpv=
n_rYXvbhx_o58xxLL3Gf5OD6_7JEIBQejpLzGkowqnWTQCK9325p7OJ8E6Ab3cnQgrGqvoKrk4Y=
vPwdSERG-6AIckRn038EgC-hATFFNwCZKLraaa33yS6EjaZYzRrdNJX99lVht-ZCbkV3U4UUOR2=
BrF0pq2rucj7dcvYoebOpQu-ACJgijbwe_sALgUPB0LnqdZfek983_0inXytMxQh2dThm3crbiY=
G8oOZP671JlGKJDoHS16yFvCP82ZylukZf0lZg3KbKTqAQC2S8aE3g0jwePr0hiTi8sOI6ySUlp=
iJ1IPEizmb8IpwoeueqapjEEsenEMcmYkY3o_qJUsgKWl0oMY0go45cmtZTXsnOWGgq3zHi7I5T=
kmkDw7LR-iZsfIevAFkg%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">b=
y early September</a> =E2=80=94&nbsp;although given that the agency has the=
 option to approve, deny, or delay, =E2=80=9Canalysts and industry observer=
s anticipate the SEC to once again punt on making a decision.=E2=80=9D</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 0px =
0px; line-height: 1.6; word-break: break-word;">Prior to the ruling, crypto=
 markets had been mired in a down cycle, with BTC enduring weekly losses in=
 eight of the last nine weeks as <a href=3D"https://links.coinbase.com/u/cl=
ick?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb=
96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxL3w6nG18fXGapQYYB0SQcGYhloOfiWUqxdDobfUbgtBf=
rU1Ti4EE6qbSNPo0G6hBxc_5DUScuYGxtxrWmp1ycIsUBWhoo9qsLJfq_3VaQ_XHQhe2jLWsOPL=
C9AOfkglUMDBJ-6HMRjXgzoktOCe0qgE1f1p2vtyTgAZrt-4UBCSPFsAvMW-afMc3Bv--YhoLJO=
YGxkZjAZydxWbsw70zUQqQWcO-8nwg516aq5flwUITk0jDlsb67OnBCYcR1veZgCXlhwYrbFGSx=
tQBK-Dg4URM7AmmNic9W5CzvV2S2LLwe8yMv_9iMRlvUgBpgWt3mT7k8jSaKhcRqsdNBJEMJCpp=
k0YndqJ68_LjtZ4EyxElJtbHqfb4NWbmSHfqGTJTJ5bDlTJatqxr7z6CDVEfvDybNHE34XFtux7=
kQmlpilEXwRrSdKPljJtBrWPeShUpw%3D%3D" target=3D"_blank" rel=3D"noopener nor=
eferrer">renewed interest-rate hike fears</a> pressured markets. Facing tho=
se headwinds, crypto markets have been waiting for a catalyst =E2=80=94&nbs=
p;and while it=E2=80=99s too soon to say if this court decision will evolve=
 into the news that helps drive the next cycle, at least some investors are=
 betting that prices will rise: In the hours after the Grayscale decision, =
<a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878=
e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxKI=
SBlrEgrxrYedzd8PBbeOrulnBRap3seEr_MxwDaJX6oZVWWkPKzqgcsDEhpx1ADh5k5ETpSTRub=
0NxOliUZbnu9Vsd2WBcqUk1IBd-Sg0ZLxZzdGp0voMuIg2QNZyiPHlbfAAUn-454yolaILdsJkC=
X7ElL8M-ePQoegkHTv0HN1OWCwaFd8Xl7ov-X16XpTHV4wJQHDwOh7lHhxOE8Wq3-GFxQB4CX_T=
4f8vR3C4fS5Il8B7lVB_8t4ax0Z5yqYM2CFA4xkwXZdxectRF6mYQwCd9XQbRBJeKH5YkZStbTW=
1xoUTXAJ5MA5GDtqjtVpKdv3GvO1UKkYUA1rLJV5z8J5-ZAV14D9bnnfnoV-riHjg0-5dSTeh7g=
4GzJclABWEYMxaE9krW3B2jvJeMyg%3D" target=3D"_blank" rel=3D"noopener norefer=
rer">BTC futures</a> were up by more than 6%.&nbsp;</p><div class=3D"cta_bu=
tton" style=3D"margin: 24px 0px 0px; padding: 0px; width: 50%;"><!--[if mso=
]><table width=3D"100%" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" st=
yle=3D"border-spacing:0;border-collapse:collapse;mso-table-lspace:0pt;mso-t=
able-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=3Dfbd01e0cf2654779a3689d68e0bb96ae&=
_e=3DzlzL4d3mrcfO3hiQ7TGzxDH7dXQF8nlzKaLogG19ftIoj28rnoCUdKE-9rBGGvBQGt35n8=
APi9UmVtAAvIrTkrSgPglRgk5EXSvrW7IPERJI_gLK_h_2WneoI-qZ5XT0L8AhJPNzm00f2YOBC=
4IA8neIyjhwoiRndzJqaIWoTWslbZcGV9azTN2fof696Ejmir6W3dyBbuV3Ya0uXjlMHl_pM84u=
tz_F04b_el4l9JDhnlIhpICXhzpAwMcowHyEon6cwAmik0_cMkdbm7M3ayKYk7KidzcGnredFl2=
SWXl_Q5dJs2xd8tX_oNP7FJYe71_UBzy_s1XWogKEDrX-GEZ5gLXOeh6dQd01D0QBXY2Awc_XxW=
FwEjEtYxF8MhLj" 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, s=
ans-serif;"><![endif]--><a href=3D"https://links.coinbase.com/a/click?_t=3D=
3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=
=3DzlzL4d3mrcfO3hiQ7TGzxDH7dXQF8nlzKaLogG19ftIoj28rnoCUdKE-9rBGGvBQGt35n8AP=
i9UmVtAAvIrTkrSgPglRgk5EXSvrW7IPERJI_gLK_h_2WneoI-qZ5XT0L8AhJPNzm00f2YOBC4I=
A8neIyjhwoiRndzJqaIWoTWslbZcGV9azTN2fof696EjminjsCutURFzejGhEieXDbnpdhSXDIS=
qI7qg1SKvDje-Sqk_Q9IuetiekvJEuQed3PKqH03FjcQtolHA4YS_zn4_1ohiOOa-kSe9kci2-L=
kp9eEyfL37Ysk2AgdBsDoTKK2PcX1smd6JZWNLpWilsUTg5uPlANCoftYBXM3PaQMqyeGxrsRay=
SaHfUI8S-PnJ" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"displa=
y: 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>Learn more ab=
out ETFs</strong></a><!--[if mso]></center></v:textbox></v:roundrect></td><=
/tr></table><![endif]--></div><a href=3D"https://links.coinbase.com/u/click=
?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96a=
e&_e=3DzlzL4d3mrcfO3hiQ7TGzxK9BNWrV3axDZKd-M0LIYIbPPP8MdrwPJfTlZnSEiebWMnEi=
MnR0ib_TEl-YPgPovrAbQXfCpgpsa9g8tkNfK39yWHBe9bM2g6RSsralGp2YH6BwksyC8ZrKOxn=
1uSQ4KRcdyohm4DkAQhRSS5z0k4rcFu2iTXuykw65CQNOyhkRHmV7VuwWSe_h0srYOdeeEb3mri=
4k-ro1JT51ooTWHavH8UxPQfrWhYYH_-jOxjdgVxNJM4JV4NC1HWekAoLjUwMk4QWFmgxoCNecR=
vFDQhItOr7BiNmsRoLKB9YlDtRr72hruN5h6IMQD1w7U1u3gQ%3D%3D" target=3D"_blank" =
rel=3D"noopener noreferrer"><!--[if !mso]><!-- --><div class=3D"desktop_hid=
e" style=3D"display: none; max-height: 0px; overflow: hidden;"><img src=3D"=
https://images.ctfassets.net/q5ulk4bp65r7/1R8fvw6EHYZD16ORR756tD/403af3db2f=
7c3447c69a5fa0f279a00a/650x488px.jpg" width=3D"100%" style=3D"display: bloc=
k; width: 100%; margin: 64px 0px;"></div><!--<![endif]--><div class=3D"mobi=
le_hide"><img src=3D"https://images.ctfassets.net/q5ulk4bp65r7/4e0v6rqKHki4=
W6x3jBI6q7/67f9ef64c1d1452c1ecfb0779fcb1748/1060x408px.jpg" width=3D"100%" =
style=3D"display: block; width: 100%; margin: 64px 0px;"></div></a><div><ta=
ble style=3D"margin: 0px; padding: 0px;"><tbody><tr><td style=3D"margin: 0p=
x; padding-right: 11px; vertical-align: middle;"><img src=3D"https://d15k2d=
11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c5=
42cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width=3D"12" heig=
ht=3D"12" style=3D"display: block; width: 12px; height: 12px;"></td><td sty=
le=3D"margin: 0px; padding: 0px; vertical-align: middle;"><p style=3D"margi=
n: 0px; font-size: 16px; letter-spacing: 0.075em;"><strong> BRASS TAX </str=
ong></p></td></tr></tbody></table><p style=3D"margin: 5px 0px 0px; font-siz=
e: 32px; line-height: 1.26; word-break: break-word;"><strong>IRS=E2=80=99s =
crypto tax reporting proposal gets mixed reactions from Washington, crypto =
industry</strong></p></div><p style=3D"margin: 16px 0px 0px; line-height: 1=
.6; word-break: break-word;">Last Friday, the U.S. Treasury Department and =
the IRS issued a <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563=
71967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d=
3mrcfO3hiQ7TGzxP8AjIX76U6PWzf7RWG3gPhXZ4VrvrGpoiPBTMB7e8__kYFAZreBYExLoY41h=
ZdifhfWuAR0jnWP5HmJy9VPLzBBRSHJkxKbfEIeWxhOMP7MSKuK_zGac5025KTgLfX17ENQzmap=
Qdg72cIXoH_w8w_I6v1KsWOJV0rsRq7P4XsnqpEwej6xHENvGXBtz2DrUrJ5Hhz5sHq5j0Z5Yvj=
3_t8EGfq3Lhg2cWrlRCcchYynh-_mkbuznljgvI_SpQj-FI-9DNDIEq9aWLIc6dmyCQlKXWkPtl=
tZhPTBUGou0VSgplIuenJbp8xSS6LboyAVEYLE7ccHPofUe5E91w1sjqtAWZbTIOo8pv__qX8tX=
Dh4eNEd6S19cit-mjqniqZjFQa_fqMfxCE8Xj7xBkSw8O-PitJOdSQTd7rQesuxD0ajhCgWubnV=
JtV5AnRJNMJ-QhKBsYobWN5Elk24xEkdZZ11jgIfHhcZYMnMb_x7Qo11" target=3D"_blank"=
 rel=3D"noopener noreferrer">282-page digital asset tax proposal</a> that w=
ould fundamentally transform the tax reporting requirements for crypto =E2=
=80=94&nbsp;a move the government <a href=3D"https://links.coinbase.com/u/c=
lick?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0b=
b96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxJ_0y74cTrlWLVLOsXHpikPEtpl4nsL7X4H7PIJk1Xz3=
_t4wjDbBiLaVs0DmlYuro-48-yoerri-xH3QE6rgWjAeAY3Q0LJiTlk39keDnbrP0pBP0IAaOPU=
ywjn-S35xyWi8Z9_piu71QTJnaDdtygcjV3IW4RDyR7PeInXXOanBw6CRcfmWo9Yt9UK9KUcusn=
JOMtunxbKDdVe6p5AW7VVHcUlroRA5MF9yp1W5tykrNzFy_Bi6e6TqJ9sIGKSHf9LkQZbTx7HAZ=
cjTOQMfEitks7LhStBAlvmVpNRh1JULiyGQJRBLph8jasJPTEkTgUMy-x4a9znPBQodmdnbebg%=
3D" target=3D"_blank" rel=3D"noopener noreferrer">claims</a> will generate =
$28 billion in revenue over a decade and that critics <a href=3D"https://li=
nks.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0=
cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxMPw3dmiYX0QKJ9ADg9WXkzj=
6nlFhVyhZhlEIbkrskaj4Ur45E-B5xIvOQWSwjAEpd2-AXzoIBnU2AKosrnUXUGeN4O9wzJhoXZ=
5YsMYHKkU4bfJMucndYxmNhvLkU9Kv6S3FNvISDdUJXyzoXUSDea36wSzDm4sXfdafX4KSgUtnI=
yQ-eKJ4wBlVRRcenNDtCweb83PTqlY85MYEu66nvsNST_cmEyXRqZXkO_NuSqkpRZmcjlaVtXUD=
uBzlA8khduaPSLlxXRnrxGMpOIsy1lIjza3zHtKdt2ep8QF7vUUOSQvSX8Rf_3j_XUmGtqKqDWI=
4l6gCw0WBFQNfmYv3I3Je3qdpbswiYE7SCOjrUY0tSBzX0wI1c9elR8D1djOhg%3D%3D" targe=
t=3D"_blank" rel=3D"noopener noreferrer">say</a> could put undue pressure o=
n an industry that is already battling regulatory overreach.&nbsp;</p><p st=
yle=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;">The=
 proposed regulations would clarify a <a href=3D"https://links.coinbase.com=
/a/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d6=
8e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxDH7dXQF8nlzKaLogG19ftL9BUVIwFTWES0eYQzu=
a9B6GjbKPpbpEYr5FyQBwsCjlMAQqDids3vfqohCaIIpsIAupJIZtAQYvELJx5l3sO248T4uoI9=
kno6-uTMco6jZO0FUOccju6Rbq5P9Ril6cNVVjzczLUUORTLfQkR66tocAk_fJ0FqYc9KFfjlhm=
wOO5G9PxiJnKXKPwFaA6H0WgT7MXy2cGuvjsZcBcwgcnaDW_d1FgSbInP7oNQh3mirsKC3f2CBx=
Cadats5AGId_HVnU9l7UTuaDgC8c-1FPmXwFbMJhEhAFYcNXH_Oz8dU_xsYLwz-upGA2Ysnmn2K=
kTGHvLj4Lhvl2eDEbNlU6VMS" target=3D"_blank" rel=3D"noopener noreferrer">las=
t-minute crypto law</a> that the Biden administration added to its sweeping=
 2021 <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192=
255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7=
TGzxIid6TIvzC6EZ2t93zH-29OuhYfLLCzWnZT94Yuyh-54xxou_1SElYxVsNwLBlre6-W0hdPW=
WqTVZydETWboVHDF1YyISMV9h2i2V3L_899cu6aoEMe2qSojdaWodkKldftTJakLfzqUVD5Xoe6=
LM2WzPJwNC3K4MVbFrkgVYmo-PJWhA7ZWE7xTB2lSV7H5f7sKX230zsU7BNMjjZ-oh1TRS_sCXh=
ktRrJf2bwaZv4w-sVVMfCqOnnyvpTDiHYx6Dp3tyBaWjAKUZmzqmG6Y2XEHFy9ecTqkFKzQwNkd=
qKMK9VBgMTIRXR9vcSfGv-Mhh9DRKdtCRI3Dp9dP42b_QYdWcNTUsvd8qC1X6BV9-fLtJOwEZjW=
CtgGHv5ghWM20SgyYW7Tgo61bk-_yNgvODnCQN2-F-jawrZTlsUS40Jp" target=3D"_blank"=
 rel=3D"noopener noreferrer">Bipartisan Infrastructure Deal</a>. The law ha=
d two major consequences: it instructed the IRS to define what a crypto =E2=
=80=9Cbroker=E2=80=9D is and asked the agency to ramp up tax reporting requ=
irements from such brokers. Now, the public is invited to weigh in on the p=
roposal, parts of which have been met with concern from many corners of the=
 crypto ecosystem. Here=E2=80=99s what you need to know.&nbsp;</p><p style=
=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;"><stron=
g>Why does the IRS say it needs new crypto tax reporting rules?</strong></p=
><!--[if mso]><ul style=3D"line-height:1.6;mso-line-height-alt:26px;"><![en=
dif]--><!--[if !mso]><!-- --><ul style=3D"margin: 10px 0px 0px; padding-lef=
t: 24px; line-height: 1.6;"><!--<![endif]--><li style=3D"margin: 0px; paddi=
ng: 6px 0px;">Because crypto is still relatively new, the IRS <a href=3D"ht=
tps://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=
=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxBwtktx6gs9ELz=
OBuqgavBTejiO4R0Cr8YbXJHrgZK9wx6m6-XVmshEEp3126V8ODewSmX3pOx0Sj4iGNJjvqAjXm=
BOziWhb95KaquBuDOrJ9gksIs94wQKq-Ce83GuT6-1GIu_QSRWrC4PxVEztG20HhePmCDA6IdU5=
qSvbaAHGAmd2MuHd1lYeNWSSHGd8nud-0oVhcgI5aPErnfg2HWECr5R777i3xw1JYe-zN_t2Wia=
Ih77q0AX6ArXda30n7ltBwmZh65CLv9DeUK3pb7SlP1AW4SCmo4uc5LunOyDpCSVnKyfnJLJg-S=
51Mfo0bi6AZzEtMC1fv7M_MgUtVsyCoUEGOTxZ-ZwugkGq22uGfgXtrR6jTcUxA2ahEU_7PdgUe=
FHYmsJNSQru79X1TA3x1EBN79qLHgqtUDhmuVLxEmQrdQ7ep1Dp46sbxe3RXQ%3D%3D" target=
=3D"_blank" rel=3D"noopener noreferrer">says</a> that current regulations&n=
bsp; make it hard for the agency to know what it is owed and for consumers =
to know what they should be paying in taxes. That=E2=80=99s why the proposa=
l aims to define who qualifies as a crypto =E2=80=9Cbroker=E2=80=9D and wha=
t information&nbsp; around customer crypto related activity =E2=80=94 like =
capital gains and losses =E2=80=94 such brokers should report to both the I=
RS and customers.</li><li style=3D"margin: 0px; padding: 6px 0px;">The IRS =
has existing reporting rules for traditional-finance brokers, but there are=
 several key differences when it comes to crypto brokers =E2=80=94 one bein=
g the <i>amount</i> of information being requested. As Lawrence Zlatkin, Co=
inbase=E2=80=99s VP of tax, <a href=3D"https://links.coinbase.com/u/click?_=
t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&=
_e=3DzlzL4d3mrcfO3hiQ7TGzxBwtktx6gs9ELzOBuqgavBTejiO4R0Cr8YbXJHrgZK9wx6m6-X=
VmshEEp3126V8ODewSmX3pOx0Sj4iGNJjvqAjXmBOziWhb95KaquBuDOrJ9gksIs94wQKq-Ce83=
GuT6-1GIu_QSRWrC4PxVEztG20HhePmCDA6IdU5qSvbaAHGAmd2MuHd1lYeNWSSHGd8nud-0oVh=
cgI5aPErnfg2HWECr5R777i3xw1JYe-zN_t2WiaIh77q0AX6ArXda30n7p-S0vsS6VIdOFjQinB=
9dioB61nhB2iWHZTZzIO0lj_XvQaJaNk9nKWOVp3hYXT5GCqhMcdlHep_IMzR-w_9pz9qOV_YIf=
Q_tyO3R43Cnds5k1_ksfcuS3gq5aoM7mFUbGYiHXdAWkJsS-3MnDJoezATxkITDxIWW_sASvTpl=
zK175Hgv95aigopq1mWABhavQ%3D%3D" target=3D"_blank" rel=3D"noopener noreferr=
er">said</a> in a statement, =E2=80=9CThe sheer magnitude of this data requ=
irement would be hundreds of times more than the annual reported transactio=
ns of any major brokerage.=E2=80=9D</li></ul><p style=3D"margin: 0px; paddi=
ng: 0px;"></p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-brea=
k: break-word;"></p><p style=3D"margin: 16px 0px 0px; line-height: 1.6; wor=
d-break: break-word;"><strong>Got it. So what are some of the specifics in =
the tax proposal?</strong></p><!--[if mso]><ul style=3D"line-height:1.6;mso=
-line-height-alt:26px;"><![endif]--><!--[if !mso]><!-- --><ul style=3D"marg=
in: 10px 0px 0px; padding-left: 24px; line-height: 1.6;"><!--<![endif]--><l=
i style=3D"margin: 0px; padding: 6px 0px;">Brokers would be defined as a br=
oad category that includes centralized crypto trading platforms (like Coinb=
ase) and<i> </i>decentralized crypto platforms that provide =E2=80=9Cfacili=
tative services=E2=80=9D =E2=80=94 potentially ranging from decentralized e=
xchanges and, in some cases, non-custodial wallets.</li><li style=3D"margin=
: 0px; padding: 6px 0px;">Notably, <a href=3D"https://links.coinbase.com/a/=
click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0=
bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxDH7dXQF8nlzKaLogG19ftIoj28rnoCUdKE-9rBGGvB=
QdvhXXF_081t1LaMkct9fk712v1pP7E3oWjiFZ91uJS6YJ2TJQsoC3NMyUPGEtwqGMa3u83dACW=
gAYcgqRIMEW_0Q-f5x-14nmMKC8j_loGUmf_-zkMetQClDm1NnH1a1JqATcix9KEE1sDLgqzj-S=
dNEhG3hxftv1whVr6sos9TJ1t3rMcecQqZVJmiET-zt_HMb0M8WPjORYF2_8C2rpqYjL2kaSnOJ=
UIakZaVrqaWw69pbY3jDjHdkRfanwwfNMgSgnmGD6NugxkpLsb5qOj5T1m-rln2PQAyawTwLqwl=
9F3aTeAEq7QUYG_hwYhSIzCXfsHltIIGwww4F46JAFg%3D%3D" target=3D"_blank" rel=3D=
"noopener noreferrer">miners and validators/stakers</a> would not automatic=
ally qualify as brokers and wouldn=E2=80=99t need to follow these same brok=
er reporting rules.</li><li style=3D"margin: 0px; padding: 6px 0px;">Broker=
s would have a number of reporting requirements, including a new 1099 form =
that tracks gains and losses for an ultra-wide range of transactions includ=
ing assets sold on exchanges, assets traded via DeFi, gas fees, NFT sales, =
and stablecoin transactions.</li><li style=3D"margin: 0px; padding: 6px 0px=
;">While the proposed rules address gain/loss information reporting, the IR=
S specifically did not address in the rules whether crypto is considered a =
security or commodity for tax purposes.</li><li style=3D"margin: 0px; paddi=
ng: 6px 0px;">The proposed rules are also strictly for broker information r=
eporting and do not change the need for taxpayers to continue tracking cryp=
to-related gain/loss info themselves and reporting any taxes accurately to =
the IRS via their income tax return.&nbsp;</li><li style=3D"margin: 0px; pa=
dding: 6px 0px;">A 60-day public commenting period ends on October 30. If f=
inalized in its current form, the rules go into effect in 2026, for the 202=
5 tax year.</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;"></p><p=
 style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;">=
<strong>Some voices from Washington D.C. and the crypto community have </st=
rong><a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563719674181922=
55878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7T=
GzxHPS5hRewTtcA0ASC--njRzxe72YZtJeIxj240dg_-dUtf9iKzcRMXZkO1NmSlpbIppIpoNJd=
X2zpZGkI0TO64cKbOtMvc3KYWPsEresVg1kJEdbpCpDM8h91SiNWHwZHwLTjqM4moHw3YwKJzoe=
bxdwZBUrUWv1L5tIcPTR7Rc3TMWKFZ3tjIJ6lAZHHxGZLyWpl1GauEA9fAaFDyVjHTje0EE7UXg=
iyt2jo94K1jQciD-WT25NDMUojT5Zjlo0wL9qZU1uY8vctDXfBgddX4TKAJZYU9RDBFsHUMhisr=
VU1ugvfG03EeOal5_WedMu7aGWQQFzoB152Hwfa0KPC84%3D" target=3D"_blank" rel=3D"=
noopener noreferrer"><strong>expressed</strong></a><strong> concerns about =
the proposal. What are they saying?&nbsp;&nbsp;</strong></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;">Re=
p. Patrick McHenry (R=E2=80=93NC), Chair of the House Financial Services Co=
mmittee, <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418=
192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3h=
iQ7TGzxIpW8_s82UMSub3_IxL8zMfVN8wm25NEPgaBrKhYJ5RSf50xUpPHyDxdTyt5W0D-HLese=
0QjLJB0yH6aqf0oLVdLu1Y0foJLnIF4IXAi_32LJnTRKgrR6H27dBRkxLIp0YpyN5IRTEvFuttW=
3f9lin4OBW3e-EGVG0PT65IZokuhBVV9BRBGqZW0JkQlPlDMeyXerWp_5QHLD09qZTOnj1j5UhX=
fI-JGr13eISqntwSufwpylXZBTRwC-aRYNM3Q7Z4zTK4HTFHlqt7frS-WJ6GTYVyKQ8E2J-Fa1o=
CKNi4V8b3WOPEVnLKiZkF3P70APrN8E9qs9AmfoBVJSaBUnWINVjfSPgtO_4hboJipOEX08cuIz=
B5pjDJZ4refZKxbxQ%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">crit=
icized</a> the rules as overly broad, saying the proposal is part of an =E2=
=80=9Congoing attack on the digital asset ecosystem=E2=80=A6 Any proposed r=
ule must be narrow, tailored, and clear.=E2=80=9D McHenry is a key advocate=
 behind the <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967=
418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcf=
O3hiQ7TGzxDH7dXQF8nlzKaLogG19ftKR_VLx8jgcIDzoSHeREVn00dIpbTL9fWsTBbiqehZSiR=
m89iBrcF-R18nbWkLIpvGjHAmo2Efso9mMB_HTGoPr2gUsSF24Whx5bRN1fLzjn1OfPPLauNrVK=
l7HWKxF3Zy77pjFNXPgwvMLPiMnbrfuaWTEZo6Q0VS_FZky9P6hFKlwhM7n90KFLK68AvuJe_Bn=
ptDjpZJXp-eidVohL0l0mEswqz1QppbOF3qnR5amrbRxm8kwxbqD85_MzIXqILkU15d2oMZNeqr=
67boZ9YcTjlWregcIz89BzcZT5v7Yfb-limIm4TVF1WTYTUodvBFbUppxraxtFl8NeAFwTWKni9=
eZbXis-asA2ZMKzCEe3A%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">b=
ipartisan stablecoin bill</a> that recently advanced in Congress.</li><li s=
tyle=3D"margin: 0px; padding: 6px 0px;">Miller Whitehouse-Levine, CEO of th=
e DeFi Education fund, <a href=3D"https://links.coinbase.com/u/click?_t=3D3=
aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3D=
zlzL4d3mrcfO3hiQ7TGzxHPS5hRewTtcA0ASC--njRzxe72YZtJeIxj240dg_-dUtf9iKzcRMXZ=
kO1NmSlpbIppIpoNJdX2zpZGkI0TO64cKbOtMvc3KYWPsEresVg1kJEdbpCpDM8h91SiNWHwZHw=
LTjqM4moHw3YwKJzoebxfIHlT-oEeoFVkd-JWzWaDgwSgcKiP9yptKBWDQ9eIheRsBS3IMqP3AI=
4WxOMC07kKvxyc0Tx67_iknC8kBkgcj-8-nPoGv-7NAlKu3TgTj7z-2xvwyh2Pz8LqkQgDyod3l=
5PW2JXG_TsKg6ABvoczyR2fLVdAcw9nM4NFJtVdBNBRAJn8ptOdVVC6VXIzt45w%3D" target=
=3D"_blank" rel=3D"noopener noreferrer">called</a> the IRS=E2=80=99s report=
 =E2=80=9Ca confusing and self-refuting proposal =E2=80=A6 [that] strains t=
o find non-existent financial intermediaries in crypto =E2=80=94 including =
DAOs and certain wallet providers =E2=80=94 or to create them.=E2=80=9D</li=
><li style=3D"margin: 0px; padding: 6px 0px;">Kristin Smith, CEO of the Blo=
ckchain Association advocacy group, acknowledged that =E2=80=9Cif done corr=
ectly, these rules could help =E2=80=A6 everyday crypto users =E2=80=A6 com=
ply with tax laws.=E2=80=9D But she also <a href=3D"https://links.coinbase.=
com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a368=
9d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxHPS5hRewTtcA0ASC--njRzxe72YZtJeIxj24=
0dg_-dUtf9iKzcRMXZkO1NmSlpbIppIpoNJdX2zpZGkI0TO64cKbOtMvc3KYWPsEresVg1kJEdb=
pCpDM8h91SiNWHwZHwLTjqM4moHw3YwKJzoebxdQ0xHyevLRZajgOsQfJ5pob5xBZCKGTMSpMen=
VLhGdHjMyrBzzQlb6XaR7-zQAHTBTGIC_duavOc3g9AEZTxL5lx2m4nFjk5pzLHmqvZ0hrVBcRW=
lCMaF17BO7otm_5SJOTYqhp21dVDCFqYFWe8gDt71tdYCdxpgS1twQ_F-ysSu1zQ7c8I13BMX6E=
FG-Q8U%3D" target=3D"_blank" rel=3D"noopener noreferrer">said</a> =E2=80=9C=
it=E2=80=99s important to remember that the crypto ecosystem is very differ=
ent from that of traditional assets, so the rules must be tailored accordin=
gly and not capture ecosystem participants that don=E2=80=99t have a pathwa=
y to compliance.=E2=80=9D </li></ul><p style=3D"margin: 0px; padding: 0px;"=
></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" cellspac=
ing=3D"0" border=3D"0" style=3D"border-spacing:0;border-collapse:collapse;m=
so-table-lspace:0pt;mso-table-rspace:0pt;"><tr><td style=3D"padding:0;" ali=
gn=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://lin=
ks.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0c=
f2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxDH7dXQF8nlzKaLogG19ftIUQ=
aGcGUKRmfWWsW5_yDTgEv_Vn_Qh7uQ5vBoISt7aGSMGg2dhg9NNwtFAMrrUVzrOKagOSMB5YCy6=
kFFsSBxJzJAAV9gFStc3iu-fo4Y7N1-ZOHfI3XlMaSg0yIHKoEtk2J-dTNO31FyYsOinW1lj0Pt=
zwVB4vMlwarxTveYtEmZKwGwmNFT6E9lbi2kdOmsF8e1-bwof9MoFgfhT0ML3fRbWC_MxR4YoZB=
tVKsUpav9xsDwLR8kdsxqZn97nfkGHDXgDtLmYBwS0ftqoheO-LG6NBNaS1esq2C2PZy2lg-xlm=
dxTPjWmUnLE9dHAHHe77TzHLGtqR5uNg_0rELin" style=3D"width:350pt;v-text-anchor=
:middle;" arcsize=3D"17%" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchor=
lock/><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.c=
oinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf265=
4779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxDH7dXQF8nlzKaLogG19ftIUQaGcG=
UKRmfWWsW5_yDTgEv_Vn_Qh7uQ5vBoISt7aGSMGg2dhg9NNwtFAMrrUVzrOKagOSMB5YCy6kFFs=
SBxJzJAAV9gFStc3iu-fo4Y7N1-ZOHfI3XlMaSg0yIHKoEtk2J-dTNO31FyYsOinW1lj0IJLez_=
k9LFogLf1XS2CVzJxD8I8QqXkOkMz7kLwzBmxkO2RC2bW3cF0bX0seCTFsnDqcI2kgJrkRT46te=
QkIJTx4xbp6YU-VGYK4J8abJzyc0_OvKrHUJSrfGMXZaGaO6u38-8xjjMO6MRhDLqKAefoeEJaV=
MEylsDEzfjCaAU2pParzgLrQ51hIBh3hhZn" target=3D"_blank" rel=3D"noopener nore=
ferrer" style=3D"display: block; margin: 0px; line-height: 1.2; font-size: =
16px; text-decoration: none; color: rgb(255, 255, 255); background-color: r=
gb(0, 82, 255); border-radius: 30px; text-align: center; padding: 18px 0px;=
"><strong>Become a crypto advocate</strong></a><!--[if mso]></center></v:te=
xtbox></v:roundrect></td></tr></table><![endif]--></div><table width=3D"100=
%" role=3D"presentation" 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"word-break: break-word; vertical-align: top; min-width: 100%; te=
xt-size-adjust: 100%; padding: 48px 0px;"><table border=3D"0" cellpadding=
=3D"0" cellspacing=3D"0" width=3D"100%" align=3D"center" role=3D"presentati=
on" 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" 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;"><tbod=
y><tr><td style=3D"margin: 0px; padding-right: 11px; vertical-align: middle=
;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrato=
rs/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/do=
t-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-alig=
n: middle;"><p style=3D"margin: 0px; font-size: 16px; letter-spacing: 0.075=
em;"><strong> NUMBERS TO KNOW </strong></p></td></tr></tbody></table></div>=
<p style=3D"margin: 16px 0px 0px; font-size: 32px;"><strong>2 million</stro=
ng></p><p style=3D"margin: 4px 0px 0px; line-height: 1.6; word-break: break=
-word;">Approximate <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca=
56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3Dzlz=
L4d3mrcfO3hiQ7TGzxKIUIwV9q4aionzPiZbirTHZXNlp0BbWGAro9RS5fcTYvOQbaRGftrQy05=
MnBlu-dl8Awy6PXU43J0M__vViFbp8BfT5HgJnBdbapN3tI8BiyszbKkDRZaOa6serJ3AWdSXD-=
Zw67F8-h0VItpxdO0FQRPOFCV06ow_rDsfMg8GINnpzp-3Kw0VRXhnXR83OQGP8s4KES2y3U93w=
g0P7UzImEOfKgYNIUEG8dWczObuovYQOPkehYhdF-dQKRfS3tBb8rL_h2BLPi5A0etXIAWFW0jM=
LB_rAJwuNJVYnrl6KJhlMlrilFFsbngAMaTx4TiNFs0wLbPiFFZ6TvwVwAos0BAxN795WeJNTSR=
ekk3RopAPclktboV1Azce906ngdJ684HL5WgatWsFstqLwf9s%3D" target=3D"_blank" rel=
=3D"noopener noreferrer">number of downloads</a> logged by the blockchain-p=
owered mobile game NFL Rivals since its soft launch in April. NFL Rivals in=
corporates "web3 digital ownership with an in-game utility that allows fans=
 to own, collect, and trade playable digital assets," according to develope=
r Mythical Games.</p><p style=3D"margin: 16px 0px 0px; font-size: 32px;"><s=
trong>$99</strong></p><p style=3D"margin: 4px 0px 0px; line-height: 1.6; wo=
rd-break: break-word;">Price for a pair of the <a href=3D"https://links.coi=
nbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf26547=
79a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxPnAnqPZHDdFSxWphg2ngrqc4f7OpVr=
c5bbFGMyDIDBlPgDQ9Vsr8oa61_Yc9kJiUGvIMM54_SuungBMdImmgfi_9Yvbp06fEakOegif0h=
BU1yEdKI_0J_ZQVvYwL7_YdE_GKxK4ye4MKJwAwENQGtkCuGQDl4oMY3FXVImZvYQwlLQ2BXhhz=
i6Eruap7HgfqX60YczbHY357d5lBIkrk2BoKY5f4UBZZxsytqG-XcEFxY0_Xi6KyyNu4O3O66Nq=
EmuADuwI0pgLYfuzSlnCmIWy2xV8kYE0yIjmeiTq58JIfi1esHcEy0DWspNUn3c4zrcytWzebYq=
1Gke-zNQ8teYUSU3ZSl7ro0s9kFTp-NTlX631eEcIVZwqlSA4uagBqA%3D%3D" target=3D"_b=
lank" rel=3D"noopener noreferrer">Doodles x Crocs sandals</a> that are avai=
lable to Doodles NFT holders. In addition to the shoes, purchasers receive =
a =E2=80=9CCrocs Box=E2=80=9D digital collectible which includes two Doodle=
s Wearables and early entry to Doodles=E2=80=99 Stoodio =E2=80=94 a new pla=
tform for customizing Doodles characters.</p><p style=3D"margin: 16px 0px 0=
px; font-size: 32px;"><strong>95%</strong></p><p style=3D"margin: 4px 0px 0=
px; line-height: 1.6; word-break: break-word;">Approximate decrease in dail=
y revenue earned by the buzzy web3 social app Friend.tech <a href=3D"https:=
//links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd=
01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxPHTNBRz0IdauVg6GcvA=
sHTIL_rl3k7b-uANHuZEgGWCU_OsBS-Pgp6tqBycr-eGO6WMrB8ORnT9HQKxb0Ff1RxD2lAxOYL=
rW0t4qWe70iM6o6U1oV3DGKF4Dvkh_OrY420zKhI1cmVulm3ceBFBAfZN15C-D2hMii9e-bu0Lv=
nYUPlWItYpfCIqWm0TXxNw2RWJNfIN_LOsoEjCKAr5_tFS3xAqLsiGvq14FX0ObOwNEVfoSTYPA=
b0ehOwUhrcpEtXrwkw_92SFc0-9PhWY6OY-Gaco17gOQb7HMqx0nfEot55or5PXFeX_v8ccwB0O=
3gv-c8AkA6XUKa_8aYceT1d5319A6CDPHCwnUL-BiYPuj1eFD_FbVfKSPjwtuMHLHA%3D%3D" t=
arget=3D"_blank" rel=3D"noopener noreferrer">on Monday</a> after peaking at=
 around $840,000 per day a week earlier. Friend.tech is a decentralized soc=
ial network that allows users to tokenize their accounts and then sell acce=
ss to fans =E2=80=94&nbsp;early users included NBA players and crypto influ=
encers.&nbsp;</p><p style=3D"margin: 4px 0px 0px; line-height: 1.6; word-br=
eak: break-word;"></p><table width=3D"100%" role=3D"presentation" style=3D"=
table-layout: fixed; vertical-align: top; border-spacing: 0px; border-colla=
pse: collapse; min-width: 100%; text-size-adjust: 100%;"><tbody><tr style=
=3D"vertical-align: top;"><td valign=3D"top" style=3D"word-break: break-wor=
d; vertical-align: top; min-width: 100%; text-size-adjust: 100%; padding: 4=
8px 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; border-spacing: 0px; border-collapse: collapse; border=
-top: 2px solid rgb(222, 224, 226); width: 100%;"><tbody><tr style=3D"verti=
cal-align: top;"><td valign=3D"top" style=3D"word-break: break-word; vertic=
al-align: top; text-size-adjust: 100%;"><span></span></td></tr></tbody></ta=
ble></td></tr></tbody></table><div><table style=3D"margin: 0px; padding: 0p=
x;"><tbody><tr><td style=3D"margin: 0px; padding-right: 11px; vertical-alig=
n: middle;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/=
Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9=
689713/dot-1.5x.png" width=3D"12" height=3D"12" style=3D"display: block; wi=
dth: 12px; height: 12px;"></td><td style=3D"margin: 0px; padding: 0px; vert=
ical-align: middle;"><p style=3D"margin: 0px; font-size: 16px; letter-spaci=
ng: 0.075em;"><strong> TOKEN TRIVIA </strong></p></td></tr></tbody></table>=
<p style=3D"margin: 5px 0px 0px; font-size: 32px; line-height: 1.26; word-b=
reak: break-word;"><strong>Which of the following is a taxable event?</stro=
ng></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</strong></td><td>Getting paid in crypto</td></tr><tr><td style=
=3D"padding-right: 12px; padding-top: 12px;"><strong>B</strong></td><td sty=
le=3D"padding-top: 12px;">Receiving an airdrop</td></tr><tr><td style=3D"pa=
dding-right: 12px; padding-top: 12px;"><strong>C</strong></td><td style=3D"=
padding-top: 12px;">Selling crypto for cash</td></tr><tr><td style=3D"paddi=
ng-right: 12px; padding-top: 12px;"><strong>D</strong></td><td style=3D"pad=
ding-top: 12px;">All of the above</td></tr></tbody></table></div><p style=
=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;">Find t=
he answer at the end of the email.</p><div class=3D"cta_button" style=3D"ma=
rgin: 24px 0px 0px; padding: 0px; width: 50%;"><!--[if mso]><table width=3D=
"100%" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"border-spa=
cing: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:s=
chemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:office:word"=
 ses:no-track href=3D"https://links.coinbase.com/a/click?_t=3D3aca563719674=
18192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO=
3hiQ7TGzxDH7dXQF8nlzKaLogG19ftIoj28rnoCUdKE-9rBGGvBQVzMRM42pVZ4Txjgq_HFur35=
htbZ1K2Zc6rxBhy8OXrHUCbziCzFxCUGntcQQbb-tchq1QsaGWjc9t2GLxrK7eSSC49F1Brg3JF=
V1tUpDBWhgoXyHfrFw6_8_ZsiD2_4NN-yKhHEyVlt_CM6geHnO_Rc_s13trv0M5hPjloDRTj214=
baaokW2X11tXAsiksp4PjKbzLTpCL_zm4-Imc-YgwsvI-R7O9BjWipbPd66CAKui93BGuGsH_9s=
FVcViAKVRISOSdF5AhOUHinGgK32Ng9W7kk8d1D3Yr24TKStYMrChrVt6IKdzksiUv1pSCy3" s=
tyle=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;"><![en=
dif]--><a href=3D"https://links.coinbase.com/a/click?_t=3D3aca5637196741819=
2255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ=
7TGzxDH7dXQF8nlzKaLogG19ftIoj28rnoCUdKE-9rBGGvBQVzMRM42pVZ4Txjgq_HFur35htbZ=
1K2Zc6rxBhy8OXrHUCbziCzFxCUGntcQQbb-tchq1QsaGWjc9t2GLxrK7eSSC49F1Brg3JFV1tU=
pDBWhgoXyHfrFw6_8_ZsiD2_4NN-yKhHEyVlt_CM6geHnO_RYC-tZ0J_kz3BeTZgeWQpddCBqpX=
PyXkIkH6OFb_VTcVK_Zsx1Qml-uFkg7pnPusYv9XBQqtsQCA65IGVD9SOdX68R5gwFOGPV7-7zj=
n-Tg_SHwWtSpM0oa8TBKQOQNTe-XdU_OqEG9UuA4l9Lirqt_byulE28YTLrMqm_pR8zQ" targe=
t=3D"_blank" rel=3D"noopener noreferrer" style=3D"display: block; margin: 0=
px; line-height: 1.2; font-size: 16px; text-decoration: none; color: rgb(25=
5, 255, 255); background-color: rgb(0, 82, 255); border-radius: 30px; text-=
align: center; padding: 18px 0px;"><strong>Learn about crypto taxes</strong=
></a><!--[if mso]></center></v:textbox></v:roundrect></td></tr></table><![e=
ndif]--></div><table width=3D"100%" role=3D"presentation" style=3D"table-la=
yout: fixed; vertical-align: top; border-spacing: 0px; border-collapse: col=
lapse; min-width: 100%; text-size-adjust: 100%;"><tbody><tr style=3D"vertic=
al-align: top;"><td valign=3D"top" style=3D"word-break: break-word; vertica=
l-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%" alig=
n=3D"center" role=3D"presentation" style=3D"table-layout: fixed; vertical-a=
lign: 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" 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;"><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>D</strong></td><td>All of the above</td><=
/tr></tbody></table><table style=3D"margin: 48px 0px 0px;"><tbody><tr><td s=
tyle=3D"text-align: left;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.ne=
t/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5637196=
7418192255878e9689713/Rebrand%20Assets/coinbase_footer_wordmark.png" alt=3D=
"Coinbase" height=3D"26" style=3D"display: block; height: 26px; margin-bott=
om: 24px;"></td></tr><tr><td><a href=3D"https://links.coinbase.com/u/click?=
_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae=
&_e=3DzlzL4d3mrcfO3hiQ7TGzxNv1Fku_9frHwKWZuLZu4TIMCnM-oHlmWYbNE4jrQqmrIDQ3a=
itTqRTewgBj7vDF0j-KmLNJVH7k689Drj5lLHOU_TdR0Glnp9wViB9Hg3_X36c49N6-E8G3Jwfc=
uTA4yHxdWukmJfyQ5ulemmE_nn3NYqtm9qbYJ6fD1FsaZJClo_POm-8amkr4IiTWAfjxq7RL-eO=
4gABfi2lyeAYOxOAFDyc37YCXAG3ODbmorSzGtCe1e-paX9s0B8HVaRJqrhGeC4KOa-RoZ1EQXQ=
8_idINspHmZctQL9Awri4ffT5-p2ypN6jjqdKcOo5to23TnXdnnTzH33wvZuP026wrIqK1GLDXB=
pJmkjhbsV7eTQYN" title=3D"coinbase ios app" target=3D"_blank" rel=3D"noopen=
er noreferrer"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/use=
rs/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5637196741819225587=
8e9689713/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=3D3aca5637196741819225587=
8e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxI=
EiWlbCz9yL0cO7-tWQAq9hlzgBJElFmm1BqnwOyWmZPqdz-YkvEv5uFyI7Ncgf8PSe1aRlyGOjk=
HABoDrO6EXHz4iFOXeGFfo_EQ1qe7qKDy3ZUAeLqDNJ3F5g_HHXfpV-Fvp1nf2z0Ofmzv_7TYyK=
D9bdSAoBWDtB-LwmgbLQbGoMUtNHryj3BsPqwdVw3weL4MiDXn_VTG2L9PX4bXg1spxAgplP1e8=
7PnoXiFWmgjHVLcSxXzbwfWR-132sxb8WxoKZ6gCABBnsED1bCaSJ2LXSXDfS7II7I0gQ0yvF5w=
i19Rk1jtLTkRC48KbIjFI_Jr9WDjzjScIpRR95hQiBU-GYl0i2nPFvN0fbmBTU" title=3D"co=
inbase android app" target=3D"_blank" rel=3D"noopener noreferrer"><img src=
=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713=
-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Icons/app_goo=
gle.png" alt=3D"Download on Google Play" height=3D"46" style=3D"display: bl=
ock; 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: break-wo=
rd; color: rgb(91, 97, 110);">Disclaimer: This material is the property of =
Coinbase, Inc., its parent and affiliates ("Coinbase"). The views and opini=
ons expressed herein are those of the author and do not necessarily reflect=
 the views of Coinbase or its employees and summarizes information and arti=
cles with respect to cryptocurrencies or related topics that the author bel=
ieves may be of interest. This material is for informational purposes only,=
 and is not (i) an offer, or solicitation of an offer, to invest in, or to =
buy or sell, any interests or shares, or to participate in any investment o=
r trading strategy, (ii) intended to provide accounting, legal, or tax advi=
ce, or investment recommendations or (iii) an official statement of Coinbas=
e. No representation or warranty is made, expressed or implied, with respec=
t to the accuracy or completeness of the information or to the future perfo=
rmance of any digital asset, financial instrument or other market or econom=
ic measure. The information is believed to be current as of the date indica=
ted on the materials. Recipients should consult their advisors before makin=
g any investment decision. Coinbase may have financial interests in, or rel=
ationships with, some of the entities and/or publications discussed or othe=
rwise referenced in the materials. Certain links that may be provided in th=
e materials are provided for convenience and do not imply Coinbase's endors=
ement, or approval of any third-party 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 2023&nbsp;| Coinbase Europe Limited <br> 70 Sir Joh=
n Rogerson=E2=80=99s Quay | Dublin 2 | D02 R296 | Ireland <br> =C2=A9 Coinb=
ase 2023 | CB Payments, Ltd <br> The Scalpel - 18th Floor | 52 Lime Street =
| London | EC3M 7AF | UK <br> <a href=3D"https://links.coinbase.com/a/click=
?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e0cf2654779a3689d68e0bb96a=
e&_e=3DzlzL4d3mrcfO3hiQ7TGzxDH7dXQF8nlzKaLogG19ftIOdn4SJxB1MaQiuY74_oBGieb9=
OgCPp8hwS_bSEm1XXMyD0bD0CfiR4C5KEyHGrG1OrNEGcYvy6AQ2FBBK0Q5AlwVHRUzMdwFTFNY=
_jbA2GEyrbH9pIrjr8wkfHwwTHUSraPWTX2CDuZ81bDF3wNE1uuvTONDAhm5S-CZFX6SMJwzKmC=
00tou1yix0BvA6ctquT7JKS6rPtfE8t72DiXliOCvTKqQc-Dnv0PNuJlAxPPflGPUCi4G1G4JVT=
cilJnbSolSRnsLJnmzXmbP_8XJr">www.coinbase.com</a> <br> <a href=3D"https://l=
inks.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3Dfbd01e=
0cf2654779a3689d68e0bb96ae&_e=3DzlzL4d3mrcfO3hiQ7TGzxIEm2_R-fnhpJa6HTdXqVzs=
ue4muk83t0TArJyCBMAEJfWgWpZo8oFtq702VeKVb5G2gcWxxqRLo1yHsTVRJ26kaiQ4Yo5ZkNb=
fCPGoPuhqFLW1s8-43r2_uTAuvKX50B3yj7aNF7Ps9PH27Msc-SAjn7r4KuWIX8hg2U3aHtMM_-=
E9KnI_L3xmu-Z3yJZB-5Z0KkcvmszTGfBy4l0RhYMzWGHFUQ-9eOcXQZ6Bu8senzYkIcFVxIKOc=
vNkcezd2I_RnNwshdD2wKgAb3OQz79FmntTlAxfGQOZlfQljYQWlOz8bvmWbN7q3hgVoT-8Nng%=
3D%3D">Get in touch</a> <br> <br> CB Payments, Ltd. is authorised by the Fi=
nancial Conduct Authority under the Electronic Money Regulations 2011 (regi=
ster number 900635) for the issuing of electronic money. <br> <br> Cryptocu=
rrency is unregulated in the UK and may gain in value, or lose some or all =
value. Profits may be subject to Capital Gains Tax. <br> <br><br> <a style=
=3D"text-decoration:none;" href=3D"https://links.coinbase.com/e/encryptedUn=
subscribe?_r=3D3aca56371967418192255878e9689713&_s=3Dfbd01e0cf2654779a3689d=
68e0bb96ae&_t=3DSbh9pejr8esuCre6SgrJwRVtYSREb_CI9A8SUTrkQgCHgATKgb4TNuPYlN1=
LwW2la8c1VLiNUv6SDEn5N7nH9amS5vKWbkAC9nvhWtMFTLeilZE76Eq3_Joy8M4PAaqCnJyLHY=
v3YXnby8LXM8L4VwAbiQLzWwzs213IayCeN4S7EMxBrN5U2n52EymV_VGs">Unsubscribe</a>=
 from future editions of Coinbase Bytes.</p></div></div></div></div><img al=
t=3D"" src=3D"http://comm.coinbase.com/CI0/0100018a488ee7ff-d1a935fb-3764-4=
7a4-958c-336ae41b8e31-000000/bQilLyZ_GrIuDRb1EmALUb3cbEBcFZypCrXeB9n2Rqg=3D=
316" style=3D"display: none; width: 1px; height: 1px;">
</body></html>
------=_Part_173411_96873804.1693434438772--