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Date: Thu, 26 Jan 2023 03:56:15 +0000
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From: Coinbase Bytes <newsletter@mail.coinbase.com>
Message-ID: <01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000@email.amazonses.com>
Mime-Version: 1.0
Reply-To: newsletter@mail.coinbase.com
Subject: What investors think about this rally
To: Vincent Herbert <vince@showfile.com>

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Coinbase Bytes Where are we headed? View in browser=20
<https://links.coinbase.com/e/evib?_t=3D3aca56371967418192255878e9689713&_m=
=3D512db116885c452496d8787010f0b73a&_e=3Dy8eConuJBH-8YC5GivD-JgTf2uvxcuOrot=
ilA8Nwprgz75Te2ulu2xzhzmc2drZVVkT6jyva6GtEMkWNV8py7Q%3D%3D>
 <https://coinbase.com>=20
 26/01/2023
 <https://www.coinbase.com>=20
As the crypto market stages a January rally, bulls and bears are weighing i=
f=20
it will last. [Jakie Niam via Getty Images]

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

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

 * Bitcoin revisited $23,000 for the first time since summer. But not all=
=20
investors and analysts agree on the crypto rally=E2=80=99s momentum.=20
 * Key cryptoverse quotes. FTX=E2=80=99s new CEO talks restarting the busin=
ess, and=20
Jamie Dimon unveils his wild theory about Bitcoin.=20
 * Numbers to know. The long odds an individual miner overcame to secure a=
=20
Bitcoin block, and other stats from this week.=20




Bitcoin

 =C2=A318,714.92=20

 +11.14%=20
 <https://coinbase.com/price/bitcoin?bytes_title=3Dbitcoin>=20

Ethereum

 =C2=A31,303.75=20

 +5.58%=20
 <https://coinbase.com/price/ethereum?bytes_title=3Dethereum>=20


Cardano

 =C2=A30.31=20

 +14.30%=20
 <https://coinbase.com/price/cardano?bytes_title=3Dcardano>=20

Dogecoin

 =C2=A30.07=20

 +6.40%=20
 <https://coinbase.com/price/dogecoin?bytes_title=3Ddogecoin>=20


Solana

 =C2=A320.09=20

 +16.19%=20
 <https://coinbase.com/price/solana?bytes_title=3Dsolana>=20

Polygon

 =C2=A30.80=20

 +4.94%=20
 <https://coinbase.com/price/polygon?bytes_title=3Dpolygon>=20


Bitcoin

 =C2=A318,714.92=20

 +11.14%=20
 <https://coinbase.com/price/bitcoin?bytes_title=3Dbitcoin>=20

Ethereum

 =C2=A31,303.75=20

 +5.58%=20
 <https://coinbase.com/price/ethereum?bytes_title=3Dethereum>=20

Cardano

 =C2=A30.31=20

 +14.30%=20
 <https://coinbase.com/price/cardano?bytes_title=3Dcardano>=20


Dogecoin

 =C2=A30.07=20

 +6.40%=20
 <https://coinbase.com/price/dogecoin?bytes_title=3Ddogecoin>=20

Solana

 =C2=A320.09=20

 +16.19%=20
 <https://coinbase.com/price/solana?bytes_title=3Dsolana>=20

Polygon

 =C2=A30.80=20

 +4.94%=20
 <https://coinbase.com/price/polygon?bytes_title=3Dpolygon>=20
Price changes are for the past week, ending on Jan 26, 2023 at 03:30 AM UTC
See the latest prices <https://www.coinbase.com/price>=20



 MARKET UPDATE=20

Investors are split on one big question: Will this rally keep going?=20

As January=E2=80=99s crypto rebound maintains momentum, Bitcoin and Ethereu=
m notched a=20
third straight week of gains, both up more than 30% since the year began. A=
nd=20
while some market analysts are beginning to believe that the worst of the=
=20
crypto downturn could be behind us, others are far more tentative about=20
crypto=E2=80=99s hot start to 2023. Let=E2=80=99s take a closer look at thi=
s week=E2=80=99s market=20
moves =E2=80=94 and what some investors and analysts are saying about this =
early-year=20
rally.

Crypto=E2=80=99s total market cap hovers above $1 trillion, while BTC and E=
TH continue=20
to reach new highs for the year.

 * Bitcoin crossed the $23,000 threshold=20
<https://www.coinbase.com/price/bitcoin> over the weekend for the first tim=
e=20
since August. The largest cryptocurrency by market cap has also dramaticall=
y=20
outperformed stocks so far this year, with BTC up about 38% year-to-date,=
=20
compared to 5% for the S&P 500, as of Tuesday morning.=20
 * Ethereum jumped more than 7% last week, topping $1,600 for the first tim=
e=20
since the FTX collapse in November. Some investors believe that the coming
Shanghai upgrade=20
<https://www.coindesk.com/tech/2023/01/23/latest-ethereum-shadow-fork-bring=
s-blockchains-shanghai-upgrade-closer-to-reality/>
, which will enable investors who staked ETH to begin withdrawing their cry=
pto=20
and unlocking rewards, is a key catalyst for ETH=E2=80=99s momentum. The ne=
twork=E2=80=99s=20
developers began their first tests of the new upgrade on Monday morning.=20
 * Some long-dormant altcoins also showed signs of life recently. AXS=20
<https://www.coinbase.com/price/axie-infinity>, the native token of the web=
3=20
gameAxie Infinity=20
<https://www.coinbase.com/learn/crypto-basics/what-is-axie-infinity>, rose =
40%=20
over the weekend to reach a four-month high of $13.94. Memecoins DOGE and S=
HIB=20
have also rallied an impressive 25% and 30% since the beginning of the year=
 =E2=80=94=20
likely boosted by a combination of easing risk aversion andtechnical update=
s=20
<https://blog.shibaswap.com/introduction-to-shibarium/>.=20


Investor and analyst sentiment is split regarding the potential longevity o=
f=20
this rally, which was boosted by alower inflation=20
<https://www.coinbase.com/bytes/archive/will-the-crypto-rally-last> reading=
=20
this month.

 * A Twitter poll <https://twitter.com/Bitcoin/status/1614815692913770496>=
=20
from the widely-followed @Bitcoin account received more than 18,000 respons=
es=20
about BTC=E2=80=99s rally =E2=80=94 44% of respondents believed the runup w=
as a =E2=80=9Cbull trap=20
<https://www.investopedia.com/terms/b/bulltrap.asp>=E2=80=9D and that a ret=
racement was=20
imminent, while 34% believed it was the start of a new bull run.=20
 * Wall Street giant Bernstein described=20
<https://www.cnbc.com/2023/01/23/crypto-comeback-is-just-a-mean-reversion-r=
ally-bernstein-says.html>
 the current rally as a =E2=80=9Cmean reversion=20
<https://www.investopedia.com/terms/m/meanreversion.asp>=E2=80=9D for crypt=
o prices and=20
noted that BTC has never had two consecutive years of negative returns. =E2=
=80=9CWe=20
would be cautious to be bearish here,=E2=80=9D read an analyst note. =E2=80=
=9CBut is this the=20
start of a new sustained rally? Unlikely.=E2=80=9D=20
 * According to Morgan Stanley analysts, liquidations=20
<https://www.investing.com/news/cryptocurrency-news/morgan-stanley-explains=
-why-bitcoin-price-is-rallying-432SI-2982898>
 of short BTC futures have propelled the rally. However, BTC options analys=
es=20
have offered mixed signals lately. Per a CoinSharesreport=20
<https://decrypt.co/119797/bitcoin-shorts-dominate-weekly-us-crypto-fund-in=
flows-coinshares>
, bearish traders dominate the market, and of the $37.7 million of new capi=
tal=20
poured into crypto-related funds last week, 68% was short the market. But=
=20
according to Kaiko Research=E2=80=99sanalysis=20
<https://www.coindesk.com/markets/2023/01/24/bitcoins-weekly-options-tradin=
g-volume-rebounds-to-highest-since-ftxs-meltdown/>
, bulls are in charge: =E2=80=9CThe share of calls relative to put volume i=
s currently=20
at more than 66%, its highest level in over a year.=E2=80=9D=20


Why it matters=E2=80=A6 Perhaps the most straightforward, or at least, hone=
st, take on=20
the crypto uptick came, surprisingly, from J.P. Morgan (more on CEO Jamie=
=20
Dimon=E2=80=99s renewed crypto skepticism in Takes): =E2=80=9CWe don=E2=80=
=99t have a great answer on=20
the January-to-date rally of crypto.=E2=80=9D So what are hodlers, investor=
s, and=20
analysts to make of this rally, even as crypto markets remain in a vulnerab=
le=20
position? According to J.P. Morgan, this moment is =E2=80=9Demblematic of t=
he=20
underlying conviction many still have in cryptocurrencies.=E2=80=9D=20
Learn BTC basics=20
<https://www.coinbase.com/learn/crypto-basics/what-is-bitcoin?src=3Dmarketu=
pdate_cta>
 <http://coinbase.com/buy?src=3Dbytesdynamicbanner_cta>=20

 TAKES=20

FTX=E2=80=99s new CEO talks about restarting the exchange, and other key qu=
otes from=20
this week

FTX 2.0=E2=80=A6 =E2=80=9CIf there is a path forward on that, then we will =
not only explore=20
that, we=E2=80=99ll do it,=E2=80=9D said FTX=E2=80=99s new CEO, John J. Ray=
 III, regarding the idea of,=20
wait for it, restarting the bankrupt crypto exchange. Despite former FTX=20
executives facing charges of criminal misconduct, Raytold=20
<https://www.wsj.com/articles/new-ftx-chief-says-crypto-exchange-could-rest=
art-11674143168>
 the Wall Street Journal that he=E2=80=99s created a task force to explore =
rebooting=20
the business: =E2=80=9CEverything is on the table.=E2=80=9D

Forever 21?... =E2=80=9CMaybe it's gonna get to 21 million and Satoshi=20
<https://www.coinbase.com/learn/crypto-basics/who-is-satoshi-nakamoto>=E2=
=80=99s=20
picture is gonna come up and laugh at you all=E2=80=9D was how J.P. Morgan =
CEO Jamie=20
Dimon described his =E2=80=94 extremely unlikely (if, okay, kind of funny) =
=E2=80=94theory=20
<https://decrypt.co/119612/bitcoin-supply-21-million-jamie-dimon-jp-morgan>=
=20
that the total supply of Bitcoin won=E2=80=99t ultimately be limited to 21 =
million=20
coins. A longstanding critic of Bitcoin, Dimon has made similar statements=
=20
before, whichcrypto Twitter has enjoyed debunking=20
<https://twitter.com/lopp/status/1447608372065357828?ref_src=3Dtwsrc%5Etfw%=
7Ctwcamp%5Etweetembed%7Ctwterm%5E1447608372065357828%7Ctwgr%5E2e5bf8a4b4d52=
41cbc21188ac0bab62d6a2998cd%7Ctwcon%5Es1_&ref_url=3Dhttps%3A%2F%2Fdecrypt.c=
o%2F119612%2Fbitcoin-supply-21-million-jamie-dimon-jp-morgan>
.

Common Ground=E2=80=A6 =E2=80=9CWonder if they would consider moving to Bit=
coin - that would=20
probably be the right long term bet,=E2=80=9D Coinbase CEO Brian Armstrongs=
uggested=20
<https://twitter.com/brian_armstrong/status/1617313528901439489?cxt=3DHHwWg=
sDUyb2F7fEsAAAA>
 in response to the news that Brazil and Argentina are exploring the creati=
on=20
of a common currency which would unite South America=E2=80=99s two largest =
economies in=20
forming the world=E2=80=99s second-largest currency bloc. The countries=E2=
=80=99=20
common-currency proposal was met withskepticism=20
<https://apnews.com/article/brazil-government-argentina-caribbean-93ad4e85a=
7193fcf0d0876757bb14dd0>
 from some economists.

Stealth Mode=E2=80=A6 =E2=80=9COne of the largest remaining challenges in t=
he Ethereum=20
ecosystem is privacy,=E2=80=9D wrote Ethereum co-founder Vitalk Buterin in =
a newblog=20
post <https://vitalik.eth.limo/general/2023/01/20/stealth.html> in which he=
=20
went on to discuss a new tool that could address the fact that what goes on=
to a=20
public blockchain is public: =E2=80=9Cstealth addresses.=E2=80=9D
Read up on ETH <https://www.coinbase.com/ethereum-merge?src=3Dtakes_cta>=20



 NUMBERS TO KNOW=20

$4.6 billion

Approximate value of Ether (2.8 million ETH) that=E2=80=99s been burned=20
<https://ultrasound.money/> =E2=80=94 or removed permanently from circulati=
on =E2=80=94 since=20
Ethereum=E2=80=99sEIP-1559 network upgrade=20
<https://www.coinbase.com/learn/crypto-basics/what-is-eip1559> went into ef=
fect=20
in August 2021. EIP-1559 is intended to make transaction fees more predicta=
ble=20
while reducing ETH=E2=80=99s circulating supply, which is now over120 milli=
on=20
<https://coinmarketcap.com/currencies/ethereum/> coins.

$700 million

Value of assets linked to FTX and disgraced former CEO Sam Bankman-Fried th=
at=20
U.S. prosecutors haveseized=20
<https://www.cnbc.com/2023/01/20/feds-seize-almost-700-million-of-sam-bankm=
an-frieds-assets-in-cash-and-equity.html>
, per a Friday court filing. Comprising the bulk of the repossessed funds w=
ere=20
roughly 55 million shares of Robinhood stock (worth about $530 million), wh=
ich=20
law enforcementalleges=20
<https://storage.courtlistener.com/recap/gov.uscourts.deb.188450/gov.uscour=
ts.deb.188450.291.0.pdf>
 had been purchased with stolen FTX customer funds. Last May, SBF announced=
 he=20
had purchased a 7.6% stake in Robinhood.

2

Number of consecutive months (December and January) that saw an increase in=
=20
Ethereum NFT sales =E2=80=94 the first month-to-monthimprovement=20
<https://decrypt.co/119831/nfts-opensea-sales-rise-consecutive-months-first=
-time-in-year>
 since the end of 2021. Leading NFT marketplace OpenSea has processed over =
$320=20
million in NFT volume this month, already beating December=E2=80=99s total =
of $283.5=20
million.

1 in 26.9 million

Estimated odds=20
<https://decrypt.co/119717/solo-bitcoin-miner-solves-block-with-hash-rate-o=
f-just-10-th-s-beating-extremely-unlikely-odds>
 a lucky amateur miner overcame on January 20 to add a new block of data to=
=20
Bitcoin=E2=80=99s blockchain and claim a 6.25 BTCblock reward=20
<https://www.coinbase.com/learn/crypto-basics/what-is-mining#:~:text=3DWhat=
%20motivates%20miners%3F%20The%20network%20holds%20a%20lottery.%20Every%20c=
omputer%20on%20the%20network%20races%20to%20be%20the%20first%20to%20guess%2=
0a%2064%2Ddigit%20hexadecimal%20number%20known%20as%20a%20%E2%80%9Chash.%E2=
%80%9D%20The%20faster%20a%20computer%20can%20spit%20out%20guesses%2C%20the%=
20more%20likely%20the%20miner%20is%20to%20earn%20the%20reward.%C2%A0>
 (worth about $143,000 as of January 23). In Bitcoin=E2=80=99s early years,=
 anyone with=20
a decently powerful PC could feasibly participate in mining; these days the=
=20
industry is powered by vast mining farms full of specialized equipment.=20
Individuals are still welcome to join the network, but the odds of winning=
=20
against corporate miners, like Marathon Digital or Argo Blockchain, are=20
extremely long.
Learn about mining=20
<https://www.coinbase.com/learn/crypto-basics/what-is-mining?src=3Dnumbers_=
cta>=20



 TOKEN TRIVIA=20

Bitcoin is to BTC as Polkadot is to:

A DOT=20
B POKE=20
C POLKA=20
D SPOT=20
Find the answer at the end of the email.
Learn about Polkadot=20
<https://www.coinbase.com/learn/crypto-basics/what-is-polkadot?src=3Dtrivia=
_cta>=20



 NOW TRADING ON COINBASE=20

KAVA=20
KAVA is the native token of Kava, a blockchain network built with the Cosmo=
s=20
SDK.
 <https://www.coinbase.com/price/kava?bytes_new=3Dkava>=20


Trivia answer

A DOT=20

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

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t: 1.5; font-size: 12px;">View in browser</a></div> <div style=3D"margin-bo=
ttom: 20px;"> <table style=3D"width: 100%;"> <tbody> <tr> <td style=3D"text=
-align: left; vertical-align: middle;"><a href=3D"https://comm.coinbase.com=
/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca5637196741819225=
5878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCb=
XeQZAt1KCPZLlq_4U_CazWb0fBZglZ6pawPJCCjQK4gUiV3KoGB_iOoXPEweuHPI7x-1jCkVbk0=
ZrH0kRD5lZEwDtkwELevryIPL-69sybBCpwOIDuSImr0E6VeI72SZUn6xN_A_Q_LMlmT7UvneeZ=
UDegxRfO948V8v7NBOPHZdcYQLEhj3jiw_FjzcaYuzRIDc7AmZTApB_Knv3pZBzhn-YTV_eyScj=
G73UmWpkIApiP4Vgs5p4hBjwCQqXfi5z-K4CusRiq1d1tuf-v9YKPHilhpf5-d3vkH2aGAOqN9L=
5Ag37/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/MuaOBi=
hLXKZ-XfrbF1M4Qa-pZcOEqu3mspjBtSGF8gA=3D285" title=3D"Coinbase Bytes" targe=
t=3D"_blank" rel=3D"noopener noreferrer"><img src=3D"https://d15k2d11r6t6rl=
.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd=
6a/3aca56371967418192255878e9689713/cbytes-4x.png" height=3D"36" style=3D"d=
isplay: block; height: 36px;"></a></td> <td style=3D"text-align: right;"><p=
 style=3D"font-size: 20px; color: rgb(10, 11, 1); margin: 10px 0px 0px;"> 2=
6/01/2023</p></td> </tr> </tbody> </table> </div> <a href=3D"https://comm.c=
oinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371=
967418192255878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqC=
Y46BNiFVaCbXeQZAt8STe0Os_ctB2I5ijdgT0UoqNnkYmOYZUvo1EGGtukfRRoYwGuN9ob5I8Om=
ADn4BLevsLAmuBQ9V5POPX1HIiu75Dr935EZzB5HpFud6ojiURmqz3O17pPOiBw83kn38sV-38Z=
6lFzI-akuJd8qU0Qbp16RQ0hz3EGfQl2aGk697iQMH3JPNZovhWCVHuZYGi3Y3Qn5lTqDnJ3x2-=
YsGQwmRf_49wXVzGxAUIsN7DSDkdR51K47iCn4fRkbc4-mop9aZOPfDLT2OUIW7fWNDM0gzvBkE=
HrZeeAmABqzwXJ0q/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-00=
0000/7QGahJhbnP7_8hfyvSHsgzohtUoUIeJ3ZxA91LeJgfg=3D285" target=3D"_blank" r=
el=3D"noopener noreferrer"><img src=3D"https://images.ctfassets.net/q5ulk4b=
p65r7/4WEJnj37jM383ZjJimmdlp/03c7809d8b00a36e8b433d61e096ab91/image4.jpg" w=
idth=3D"100%" style=3D"display: block; width: 100%;"></a> <p style=3D"margi=
n: 16px 0px 0px; line-height: 1.5; word-break: break-word; font-size: 12px;=
 color: rgb(91, 97, 110);">As the crypto market stages a January rally, bul=
ls and bears are weighing if it will last. [Jakie Niam via Getty Images]</p=
> <p style=3D"margin: 48px 0px 16px; font-size: 32px; line-height: 1.26; wo=
rd-break: break-word;"><strong>What=E2=80=99s up? It=E2=80=99s Coinbase Byt=
es&nbsp;</strong></p> <p style=3D"margin: 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 week:</p> <!--[if mso]><ul style=3D"l=
ine-height:1.6;mso-line-height-alt:26px;"><![endif]--><!--[if !mso]><!-- --=
><ul style=3D"margin: 10px 0px; padding-left: 24px; line-height: 1.6;"><!--=
<![endif]--> <li style=3D"margin: 0px; padding: 6px 0px;"><strong>Bitcoin r=
evisited $23,000 for the first time since summer. </strong>But not all inve=
stors and analysts agree on the crypto rally=E2=80=99s momentum.</li> <li s=
tyle=3D"margin: 0px; padding: 6px 0px;"><strong>Key cryptoverse quotes. </s=
trong>FTX=E2=80=99s new CEO talks restarting the business, and Jamie Dimon =
unveils his wild theory about Bitcoin.&nbsp;</li> <li style=3D"margin: 0px;=
 padding: 6px 0px;"><strong>Numbers to know. </strong>The long odds an indi=
vidual miner overcame to secure a Bitcoin block, and other stats from this =
week.</li> </ul> <p style=3D"margin: 0px; padding: 0px;"></p> <!--[if !mso]=
><!--> <div class=3D"desktop_hide" style=3D"mso-hide:all;display:none;max-h=
eight:0;overflow:hidden;"> <table style=3D"width:100%;table-layout:fixed;ma=
rgin: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=3D3ac=
a56371967418192255878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=
=3DakqCY46BNiFVaCbXeQZAt6SBa2os8ccjegeSX7E3GisKQqY8eaZglida_D5wnE_0FHEnrXu4=
Qo9kI7E4ce5GJsOnHyUUeRMajDZIlKJxNvTjOWz4W0BohjaNUhqfqyxLLLNvNAxb-XJbsPA0AzC=
YzICZwIH-4sVHGj5qBV74Jz08mrFpwyTwELGYfRVz_QoeUm3TCrrRmGuGaQ-S1pI51MsyUSQwiK=
gJkBVVUf--4d6ApGNUFaMWqGnqIJgcewVSHDIkPMSH7ypSkZ0cdcQeMB0Rus5CoBhJCf62dhvEe=
2ApCtM3GAWhZ5fd9DHx7vhU-nHHzp_EB3jGn7olJ9GWDrqrLwJdhtYS8arGI0mvoRc%253D/1/0=
1000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/9II-ypEV8E8VfKu=
xfP3zQAF3hgNvi_ZKuj7IJGbUgec=3D285" target=3D"_blank" style=3D"text-decorat=
ion:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;verti=
cal-align:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/u=
sers/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255=
878e9689713/up-arrow.png" style=3D"height:12px;width:12px;margin:2px 0px 0p=
x 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 0p=
x 0px 10px;line-height:1;"> <p style=3D"margin:0;"><strong>Bitcoin</strong>=
</p> <p style=3D"margin:8px 0px;"> =C2=A318,714.92 </p> <p style=3D"margin:=
0;font-size:12px;"> +11.14% </p> </div> </td> </tr> </tbody> </table> </a> =
</td> <td style=3D"padding-top:40px;"> <a href=3D"https://comm.coinbase.com=
/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca5637196741819225=
5878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCb=
XeQZAt6SBa2os8ccjegeSX7E3GiuVjOof892Zyt3zDCahfJvRYGILmtT6R3GbLYIIqCqPqRlt0p=
xRZyJouiiHkTIkypU3mgC8MECaVdmzccDCPWghyUT9wvLTS4sxhVPrY43rCLsfpezp3S6ZJkUMV=
gLXdIoa-ENZNBil60Bclh-Hc1xDWrSWTgphm81Wg_dfMcxBd1yROnpTWt-aJyLgSLWDtIXcJyb8=
kGEAQs3vXp_2cJEqbZoeGKYi-PpYXpYxQvejI2OkL-2bYy03hPwDRa0afXDWtG_4zmQ-6E7LKcZ=
o8wfMt5N8_eiyMmmLqjc8lqQWCRtP_sE3ZqLSr_1pqhOaaiI%253D/1/01000185ec381241-f4=
213a0d-00ad-4afa-9df0-e09574125e06-000000/uOC8hlWfrG0QbGwuCLc5t1w6cCGKuhWbB=
pc6oe6bfNo=3D285" target=3D"_blank" style=3D"text-decoration:none;color:#0A=
0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <=
img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/6=
69d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arr=
ow.png" style=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-ali=
gn: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-he=
ight:1;"> <p style=3D"margin:0;"><strong>Ethereum</strong></p> <p style=3D"=
margin:8px 0px;"> =C2=A31,303.75 </p> <p style=3D"margin:0;font-size:12px;"=
> +5.58% </p> </div> </td> </tr> </tbody> </table> </a> </td> </tr> <tr> <t=
d style=3D"padding-top:20px;"> <a href=3D"https://comm.coinbase.com/CL0/htt=
ps:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e968=
9713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt6S=
Ba2os8ccjegeSX7E3GivM8nqCq9Gjg52TAkAMj48cVcdS2bZEm6xsP6Q3P56YSephErDqE7LrUS=
TEbbKsu4AS1-hoRCadw03K_zBVaxJnWelprRpaSaQ0zHs4jsbEM0USKZESVovOQmTFX5MLGgUJ9=
2B-H8omy3KyVppYKCmExJVgHi8ANIO0Y511fBfFkODRLpVLABODnwyhO6fFH-3gU_rVpZSeGn-d=
p7Fud1NHV-KOx6y-jnLTiJk7Q57958B4oSER-bk8Pc0kUBTxAjhEZoQCEh-Pj90IEVJ8HUWegQ8=
-Cb2nRE-dyce2V1FakfqURhi-LTSK6-BTJJA02SY%253D/1/01000185ec381241-f4213a0d-0=
0ad-4afa-9df0-e09574125e06-000000/K395-WAWNEFSs5UT-XK8GaYADfJgyCqn378HA0ANW=
t0=3D285" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> =
<table> <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img src=
=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713=
-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png"=
 style=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-align:top;=
" height=3D"12" width=3D"12"/> </td> <td style=3D"padding:0;vertical-align:=
top;"> <div style=3D"text-align:left;margin:0px 0px 0px 10px;line-height:1;=
"> <p style=3D"margin:0;"><strong>Cardano</strong></p> <p style=3D"margin:8=
px 0px;"> =C2=A30.31 </p> <p style=3D"margin:0;font-size:12px;"> +14.30% </=
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=3D512db11688=
5c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt6SBa2os8ccjegeSX7E3GitQu=
jfZW4PLn8zbjYyMc5pZcUMd9pocdtJJx7CPQEpqZiZvmV8S0R9qHbkedffYvUlTSStWh1jELrLy=
tSxJOtZKv5elbGwNdCPXshuLzArTRjvW2-Fl7Ao-Edi6G5WOcssJp2E8Vk6GCuDXfdaUdhWdZaA=
7vkTHllrgiZ8cT-plgkb2IC8JpksGo_UNMKlGDpM-c3IUh_-H_U2P8kyvYfim6114bPQ2JVE9Bh=
quag-PJRBhaeQdMitZYS6nMAtTPN4dySzES9mBqTGgqmHD1eph4wSwBUrxdKgHUyq8M8F7hvw9d=
WxydfaQraoBr__QjKI%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e0957412=
5e06-000000/8kDbKSdE26i1Q7H_Ac9ftSiVxHJXjod1bLCK3uWWdfQ=3D285" 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/up-arrow.png" style=3D"height:12px;w=
idth: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>Dogecoin</strong></p> <p style=3D"margin:8px 0px;"> =C2=A30.07=
 </p> <p style=3D"margin:0;font-size:12px;"> +6.40% </p> </div> </td> </tr>=
 </tbody> </table> </a> </td> </tr> <tr> <td style=3D"padding-top:20px;"> <=
a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%=
2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885c452496d8=
787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt6SBa2os8ccjegeSX7E3GivA91BLKBKLD_4=
PQUcwU5cM_o06pxeujieQlpbv7VP47hZrFwF0Sk3CqGp2IF32pE41mHgyZVemjPysJ4T9r6FICG=
W6LNy5IweL5DDdI6sjJa6nGGgLq-JACTaIMcuefunjU4J4Br-qt4eJXt_2pd5NWD2Pn2loYwbPn=
DUhJCkzRPqiTbY4-TNzA232FLjp2ajEQmanU1dWl1BdFJFxowZQY4h0D5mRSTGnStMqCmtDunQX=
nVorVsyPBylwYIMKtzcr1x2zDxnoaGj-Yaa3NBIcQDfIKdGOTPtzaSz-nuHo3jezhIJkE301aK7=
M9bA8HB8%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-00000=
0/qMDlRlvVp4Zaq2qljtmnh1tFmN3F1lsa7Wd-Gi8GZZg=3D285" target=3D"_blank" styl=
e=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=
=3D"padding:0;vertical-align:top;"> <img src=3D"https://d15k2d11r6t6rl.clou=
dfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3a=
ca56371967418192255878e9689713/up-arrow.png" style=3D"height:12px;width:12p=
x;margin:2px 0px 0px 0px;vertical-align:top;" height=3D"12" width=3D"12"/> =
</td> <td style=3D"padding:0;vertical-align:top;"> <div style=3D"text-align=
:left;margin:0px 0px 0px 10px;line-height:1;"> <p style=3D"margin:0;"><stro=
ng>Solana</strong></p> <p style=3D"margin:8px 0px;"> =C2=A320.09 </p> <p st=
yle=3D"margin:0;font-size:12px;"> +16.19% </p> </div> </td> </tr> </tbody> =
</table> </a> </td> <td style=3D"padding-top:20px;"> <a href=3D"https://com=
m.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56=
371967418192255878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3Da=
kqCY46BNiFVaCbXeQZAt6SBa2os8ccjegeSX7E3GismT1pTG4QcsGX9L4LIIbF9kD5vr9lYx0Hr=
PzxuX2Mp1lfhSZyT6RZjrQzWJTPVuWHfYgAmE_kqRWxLMS39AduXHCCDKpq7ydDPWFt-Sl9JuR9=
vWPSC6XC0ulzbhfPAIOasKoFNDpEWbOX28_pAp6FvwMCRSFEt6ElP7wFNBrRl6W9-8cV_kcZPkg=
VyNsnLr7OZ6AB0YOpBRw1fk-fSVtJcD0i4CemPDIoRaqAHeo54WPeNB-zBSZGYs_80ci7xpzQsz=
MOfk7OzhZ2h2w2KcvT5Fsw4MC0w8TIk4EEa3bDASGA4GFl1FS8vNnNMxl5jL8M%253D/1/01000=
185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/Xg0yCg7pvvZw0cV7mEs=
DGpanllvrGHzRqKD29_2VNUU=3D285" target=3D"_blank" style=3D"text-decoration:=
none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;vertical-=
align:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users=
/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e=
9689713/up-arrow.png" style=3D"height:12px;width:12px;margin:2px 0px 0px 0p=
x;vertical-align:top;" height=3D"12" width=3D"12"/> </td> <td style=3D"padd=
ing:0;vertical-align:top;"> <div style=3D"text-align:left;margin:0px 0px 0p=
x 10px;line-height:1;"> <p style=3D"margin:0;"><strong>Polygon</strong></p>=
 <p style=3D"margin:8px 0px;"> =C2=A30.80 </p> <p style=3D"margin:0;font-si=
ze:12px;"> +4.94% </p> </div> </td> </tr> </tbody> </table> </a> </td> </tr=
> </tbody> </table> </div> <!--<![endif]--> <div class=3D"mobile_hide"> <ta=
ble style=3D"width:100%;table-layout:fixed;margin:0;"> <tbody> <tr> <td sty=
le=3D"padding-top:40px;"> <a href=3D"https://comm.coinbase.com/CL0/https:%2=
F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%=
26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt6SBa2os=
8ccjegeSX7E3GisKQqY8eaZglida_D5wnE_0FHEnrXu4Qo9kI7E4ce5GJsOnHyUUeRMajDZIlKJ=
xNvTjOWz4W0BohjaNUhqfqyxLLLNvNAxb-XJbsPA0AzCYzICZwIH-4sVHGj5qBV74Jz15ep3od3=
vFStFUZT9jmjOFumue-sOZNPCaO1NLH7bKdxS083qzkJV3jf7h_GSJYoJYRQqbbKRPxHOT3NXbT=
cHIxhBUx4II2KdkdJReiRdvVoZrRN-KUYvRQi6isOxeMpCmTjuftPq3jCLyR6ni781HsHDnIY9n=
0zNbnoYrJ5RHELx5gZleMoWtmZ1vnFfB54U%253D/1/01000185ec381241-f4213a0d-00ad-4=
afa-9df0-e09574125e06-000000/SWHjabOAw3PGDSlhP15xD9sMRyaZ-Sx1xp9zdvPnX0U=3D=
285" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <tabl=
e> <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D"ht=
tps://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-=
46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" style=
=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-align:top;" 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=A318,714.92 </p> <p style=3D"margin:0;font-size:12px;"> +11.14% </p=
> </div> </td> </tr> </tbody> </table> </a> </td> <td style=3D"padding-top:=
40px;"> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase=
.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885=
c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt6SBa2os8ccjegeSX7E3GiuVjO=
of892Zyt3zDCahfJvRYGILmtT6R3GbLYIIqCqPqRlt0pxRZyJouiiHkTIkypU3mgC8MECaVdmzc=
cDCPWghyUT9wvLTS4sxhVPrY43rCLsfpezp3S6ZJkUMVgLXdIoa-ENZNBil60Bclh-Hc1xDNrPU=
LYNa-TY-65TarZ1bDguJNmaC82oNRsoqjPLceKSxDw9VIMcTVMpBcMNMAhS_XrF_LjvxGIG7kxA=
3WcoRjpI3YKen9oTbWe7edBkdNe2Kxp41DoeQmVQhKiivYYGR-GX1GhC-xYUtCoCiXMDhS2rjrz=
dXhX7fyCcuQWFscHo%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125=
e06-000000/LcQOACXYrD-eM1jE-6zeByB-xaaWQjv8sWmL0HIpEkQ=3D285" target=3D"_bl=
ank" style=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <t=
d style=3D"padding:0;vertical-align:top;"> <img src=3D"https://d15k2d11r6t6=
rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6=
dd6a/3aca56371967418192255878e9689713/up-arrow.png" style=3D"height:12px;wi=
dth: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"tex=
t-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=A31,303.7=
5 </p> <p style=3D"margin:0;font-size:12px;"> +5.58% </p> </div> </td> </tr=
> </tbody> </table> </a> </td> <td style=3D"padding-top:40px;"> <a href=3D"=
https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F=
_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885c452496d8787010f0b7=
3a%26_e=3DakqCY46BNiFVaCbXeQZAt6SBa2os8ccjegeSX7E3GivM8nqCq9Gjg52TAkAMj48cV=
cdS2bZEm6xsP6Q3P56YSephErDqE7LrUSTEbbKsu4AS1-hoRCadw03K_zBVaxJnWelprRpaSaQ0=
zHs4jsbEM0USKZESVovOQmTFX5MLGgUWZC8G0M234Fo2oeTWRcnE92PCxAufvoEzl8CCps6l5Ic=
njIIjWbhDtTjSCgw_Foj_8Ob3aRas1ZXJxXuVfh8kpOYZVqrwF991JGGsx_KO8V49CQRZcMaRnC=
0SI9ohWrouR4CHjyKI91TACsPu4sfYzlBZ_OMzSJK0R57nRUjpz1BiVEoyjvCPd2eOTyt-KMM%2=
53D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/SSi7VvfE=
--t7qjj7OMedqOTnAR00HqUTec6XUvX4Drg=3D285" 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>Cardano</=
strong></p> <p style=3D"margin:8px 0px;"> =C2=A30.31 </p> <p style=3D"margi=
n:0;font-size:12px;"> +14.30% </p> </div> </td> </tr> </tbody> </table> </a=
> </td> </tr> <tr> <td style=3D"padding-top:20px;"> <a href=3D"https://comm=
.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca563=
71967418192255878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3Dak=
qCY46BNiFVaCbXeQZAt6SBa2os8ccjegeSX7E3GitQujfZW4PLn8zbjYyMc5pZcUMd9pocdtJJx=
7CPQEpqZiZvmV8S0R9qHbkedffYvUlTSStWh1jELrLytSxJOtZKv5elbGwNdCPXshuLzArTRjvW=
2-Fl7Ao-Edi6G5WOcssJp2E8Vk6GCuDXfdaUdhWdilSl9rHTECROvvb8Sxp8fkPQDBCww0WUipm=
tHqs6QAei5c6z7R07WmvtiG-IB4s_mX_VdG7T-tCOHVvaYcmmuTWFb26SEAioIu0DtBIXDHydTM=
kI8tty8BhLa2tYlgt14cPodE1jRQi5LmPXTdBmGZvHDi19hpWZUkUZQJZ_cpw%253D/1/010001=
85ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/BDjH50tn4TB6amRBvsWd=
JEOJWyOVAJtuZM1icUrBU44=3D285" target=3D"_blank" style=3D"text-decoration:n=
one;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;vertical-a=
lign:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/=
Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9=
689713/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"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>Dogecoin</strong></p>=
 <p style=3D"margin:8px 0px;"> =C2=A30.07 </p> <p style=3D"margin:0;font-si=
ze:12px;"> +6.40% </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=3D3aca56371967418192255878e96897=
13%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt6SBa=
2os8ccjegeSX7E3GivA91BLKBKLD_4PQUcwU5cM_o06pxeujieQlpbv7VP47hZrFwF0Sk3CqGp2=
IF32pE41mHgyZVemjPysJ4T9r6FICGW6LNy5IweL5DDdI6sjJa6nGGgLq-JACTaIMcuefun-a2-=
zcIOcDHb9z0lWmOoYUG1mPQB8IBtkzQWQrLj3UHNqqiQsjZ2liE7KRU6B20sG8MLXx1rB3ogx7B=
6U9bTqBxoum9Iuv04B2VIal5nxYMrUjSssg--LtCATfoLT1EgO5CoCfkqLYW80cSoqbHze5fVDi=
77L5OkvQ5G0qu6wOg9cNgpnw-XB0DngUmhBg4A%253D/1/01000185ec381241-f4213a0d-00a=
d-4afa-9df0-e09574125e06-000000/4Gy_E7w5T1DQMHpZPPa6rJVUAqI6CNWKGhuth7kvB1U=
=3D285" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <t=
able> <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D=
"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b=
6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" st=
yle=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-align:top;" h=
eight=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>Solana</strong></p> <p style=3D"margin:8px 0=
px;"> =C2=A320.09 </p> <p style=3D"margin:0;font-size:12px;"> +16.19% </p> =
</div> </td> </tr> </tbody> </table> </a> </td> <td style=3D"padding-top:20=
px;"> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.c=
om%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885c4=
52496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt6SBa2os8ccjegeSX7E3GismT1pT=
G4QcsGX9L4LIIbF9kD5vr9lYx0HrPzxuX2Mp1lfhSZyT6RZjrQzWJTPVuWHfYgAmE_kqRWxLMS3=
9AduXHCCDKpq7ydDPWFt-Sl9JuR9vWPSC6XC0ulzbhfPAIObJidUHLB-FFK9GxSNFNL--Vt289G=
tYcvwpT1vkEwpPJxMwsK3ZkrQuUDQI0ZAbmmwTltYOr8Sj1eOVEEqOqcu4Apmd5UJ4z-NI8qqK-=
fwW5bqwoGCDucn2whqg1w92XQFeA5J9PF4uIozk1-DicTqEy_pftqAdQlvTAAmA944VKpAz1zCC=
ZGZGg0kfY4h1odk%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e0=
6-000000/wQJe0ygbagbP9T8dT_kUkWk3e1IGf_GyF6RHj92Ui0E=3D285" target=3D"_blan=
k" style=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <td =
style=3D"padding:0;vertical-align:top;"> <img src=3D"https://d15k2d11r6t6rl=
.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd=
6a/3aca56371967418192255878e9689713/up-arrow.png" style=3D"height:12px;widt=
h:12px;margin:2px 0px 0px 0px;vertical-align:top;" height=3D"12" width=3D"1=
2"/> </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>Polygon</strong></p> <p style=3D"margin:8px 0px;"> =C2=A30.80 </p> =
<p style=3D"margin:0;font-size:12px;"> +4.94% </p> </div> </td> </tr> </tbo=
dy> </table> </a> </td> </tr> </tbody> </table> </div> <p style=3D"margin: =
20px 0px 0px; line-height: 1.5; word-break: break-word; color: rgb(91, 97, =
110); font-size: 12px;">Price changes are for the past week, ending on Jan =
26, 2023 at 03:30 AM UTC</p> <div class=3D"cta_button" style=3D"margin: 24p=
x 0px 0px; padding: 0px; width: 50%;"><!--[if mso]><table width=3D"100%" ce=
llpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"border-spacing:0;bo=
rder-collapse:collapse;mso-table-lspace:0pt;mso-table-rspace:0pt;"><tr><td =
style=3D"padding:0;" align=3D"left"> <v:roundrect xmlns:v=3D"urn:schemas-mi=
crosoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:office:word" href=3D"=
https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=
=3D512db116885c452496d8787010f0b73a&_e=3DakqCY46BNiFVaCbXeQZAt8STe0Os_ctB2I=
5ijdgT0Uq6ibolETiLktKClIG-7MMz4ctJODBW-TjuDIJ0PX2K70lZSuSFQuz3N57qDZl8KY2XC=
ItQnf8JEevlM3DBnglLlozNsNyUL-0IcWIZgjqCcQBJJ2HyXNQPTPJ-BoFWZSTDBsEs3LhWzUUp=
cRy66ihXL5sbUXYj9RW0eYgX7XtX9T5i8a0UVXUz9g2WdS83pL5_LYhYP9YplQpTjLHvoRogqJR=
iTRxNHXjDStMyOSqIOH_FqMQjiGlL21jEeGUbLH02jZxzPNxxkappGnOpnr1SsL3qxnJt1vcBN7=
1spdZ4Xw%3D%3D" style=3D"width:350pt;v-text-anchor:middle;" arcsize=3D"17%"=
 stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:textbox inset=3D=
"0,0,0,0"><center style=3D"font-family: Helvetica Neue, Helvetica, Arial, s=
ans-serif;"><![endif]--><a href=3D"https://comm.coinbase.com/CL0/https:%2F%=
2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26=
_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt8STe0Os_c=
tB2I5ijdgT0Uq6ibolETiLktKClIG-7MMz4ctJODBW-TjuDIJ0PX2K70lZSuSFQuz3N57qDZl8K=
Y2XCItQnf8JEevlM3DBnglLlozNsNyUL-0IcWIZgjqCcZ-2pdldkaVokAWl-oVI4t-8na__GNbb=
7L7WPyvqbsv3ciux3Ht5vBMiStlet16EUnqT6q0su22hRKP2bUwDXoquwneo44K2uDl8HXE7Qgj=
gMxCM90OtJNURNrS32wEmpz3QQAFeoM4nPYF6VWZH8RMFyT7hRfnGoGXcjRSCojUWo8eigJsDgZ=
kpC9OppvT5bQ%253D%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125=
e06-000000/qv0pITQja5YmOAT3BGFGVS6Or2lgLrWKCk_nozuAN94=3D285" target=3D"_bl=
ank" rel=3D"noopener noreferrer" style=3D"display: block; margin: 0px; line=
-height: 1.2; font-size: 16px; text-decoration: none; color: rgb(255, 255, =
255); background-color: rgb(0, 82, 255); border-radius: 30px; text-align: c=
enter; padding: 18px 0px;"><strong>See the latest prices</strong></a><!--[i=
f mso]></center></v:textbox></v:roundrect></td></tr></table><![endif]--></d=
iv> <table width=3D"100%" role=3D"presentation" style=3D"table-layout: fixe=
d; 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%; text-size-adjust: 100%; padding: 48px 0px;"><table =
border=3D"0" cellpadding=3D"0" cellspacing=3D"0" width=3D"100%" align=3D"ce=
nter" role=3D"presentation" style=3D"table-layout: fixed; vertical-align: t=
op; border-spacing: 0px; border-collapse: collapse; border-top: 2px solid r=
gb(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; vertic=
al-align: middle;"><p style=3D"margin: 0px; font-size: 16px; letter-spacing=
: 0.075em;"><strong> MARKET UPDATE </strong></p></td> </tr> </tbody> </tabl=
e> <p style=3D"margin: 5px 0px 0px; font-size: 32px; line-height: 1.26; wor=
d-break: break-word;"><strong>Investors are split on one big question: Will=
 this rally keep going? </strong></p> </div> <p style=3D"margin: 16px 0px 0=
px; line-height: 1.6; word-break: break-word;">As January=E2=80=99s crypto =
rebound maintains momentum, Bitcoin and Ethereum notched a third straight w=
eek of gains, both up more than 30% since the year began. And while some ma=
rket analysts are beginning to believe that the worst of the crypto downtur=
n could be behind us, others are far more tentative about crypto=E2=80=99s =
hot start to 2023. Let=E2=80=99s take a closer look at this week=E2=80=99s =
market moves =E2=80=94 and what some investors and analysts are saying abou=
t this early-year rally.</p> <p style=3D"margin: 16px 0px 0px; line-height:=
 1.6; word-break: break-word;"><strong>Crypto=E2=80=99s total market cap ho=
vers above $1 trillion, while BTC and ETH continue to reach new highs for t=
he year.</strong></p> <!--[if mso]><ul style=3D"line-height:1.6;mso-line-he=
ight-alt:26px;"><![endif]--><!--[if !mso]><!-- --><ul style=3D"margin: 10px=
 0px 0px; padding-left: 24px; line-height: 1.6;"><!--<![endif]--> <li style=
=3D"margin: 0px; padding: 6px 0px;">Bitcoin crossed the <a href=3D"https://=
comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3ac=
a56371967418192255878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=
=3DakqCY46BNiFVaCbXeQZAt8STe0Os_ctB2I5ijdgT0UrkFe-mGH_EZVd5zT9dEyfy1hLF22vp=
vapz4TA6fSx5rwPE7AA8BoJjkzKyYeqg5VhC1PrUrvqIlSPMddzS7d7849Rv_G6ws-naaV5LwC7=
0pDKhWGtj1Gu0CBwA2ia2q3cv-6DAw8QacOJczciBgDQHEYb5GhnnM-_aRyRQKovqZCKXdnG0Vb=
4h0fCPnYQVLmSYRWTSLuz0FKn1dIBL03x1WzMaEFX72mbki4dV6QxDnZwX--NQ4uO6MBD_emuqK=
r6kIzJbPYee1_Z2HWuc6-BWCBHQF-VWTiLGW7sM328A_Q%253D%253D/1/01000185ec381241-=
f4213a0d-00ad-4afa-9df0-e09574125e06-000000/uiP9ru967kXqEvQdb6VFO4mV7YZb4I1=
4YZUfK9pmkE8=3D285" target=3D"_blank" rel=3D"noopener noreferrer">$23,000 t=
hreshold</a> over the weekend for the first time since August. The largest =
cryptocurrency by market cap has also dramatically outperformed stocks so f=
ar this year, with BTC up about 38% year-to-date, compared to 5% for the S&=
amp;P 500, as of Tuesday morning.</li> <li style=3D"margin: 0px; padding: 6=
px 0px;">Ethereum jumped more than 7% last week, topping $1,600 for the fir=
st time since the FTX collapse in November. Some investors believe that the=
 coming <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase=
.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885=
c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt8rRdKb7ni5dgFMyg9vpX9K8T7=
-wkZb3sWSmMpvckCPb2po6wLK_x-GUFAbV8591BEzon4llzQQYBZxKWKg9Xu-IFdABF7WlPcezw=
hP_kwgP5NmkSy_EoPZj0BRzmEaBR-fkho9w1Luhu4BRJ4TM8fGWoktHd25mV1nMupFNTnmAtY1P=
W2gNfVe6NEw9b2z0G5VdQR6yGOUBSOuFCWVTIdVlGDX90OWAH4oANFuM7yBNrhBO2_3ldhSGztt=
BmYGMAGqhGTnYV7RE1Dd4mZ1qPi5nkQ-fNjR_4le-GIOX2l4HGkmXosJt2Ml_02X1O1fU63DcTI=
w0fqpkIBNdn1Ew9HrEWP62NWaXeUkZGPlIHQuZF35K2empzgWHW_CCTCKRInCR48KMnBdPcCEkZ=
URjahHSRRDGUxA2--cczN8VjODc/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e095=
74125e06-000000/zV2blP0blhylMk30ilQa8-PQEAONJScxN8iUMcP9s4U=3D285" target=
=3D"_blank" rel=3D"noopener noreferrer">Shanghai upgrade</a>, which will en=
able investors who staked ETH to begin withdrawing their crypto and unlocki=
ng rewards, is a key catalyst for ETH=E2=80=99s momentum. The network=E2=80=
=99s developers began their first tests of the new upgrade on Monday mornin=
g.</li> <li style=3D"margin: 0px; padding: 6px 0px;">Some long-dormant altc=
oins also showed signs of life recently. <a href=3D"https://comm.coinbase.c=
om/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192=
255878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVa=
CbXeQZAt8STe0Os_ctB2I5ijdgT0UoD_JAkU9ZY8Pk6zJQwISfFdF6p5pTqhxduc4o8DddFfwz-=
0P6JvwdLArPkW2qDGl4LP7gqVgQYOsj1Bn7YgR-kNTUHFkc__hx1VIcd_MhQ-kLCfhdPJH4_BeJ=
2aGny5RPd2zyhfktXOY4NwmuwCC59TkNP2NCTwioLxTk_GAYf5uyuA8OOX0zAPC_QW37X3IItzr=
6hFsWnGbcxTwP11HU5U2I9dpk7jUFVawSXmPzjWItxqUGLKUtjYoeN2eJ01Xn_7f9uB2XlX00-i=
pWBf2elrA2MDCEXZGHQQx8tdjMb9lOxRKqgKPOcQy5eCM_01a0%253D/1/01000185ec381241-=
f4213a0d-00ad-4afa-9df0-e09574125e06-000000/XAowFG9ncVooifFOCdCefyh2c22b4oB=
hMzzy17S-05I=3D285" target=3D"_blank" rel=3D"noopener noreferrer">AXS</a>, =
the native token of the web3 game <a href=3D"https://comm.coinbase.com/CL0/=
https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e=
9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZA=
t8STe0Os_ctB2I5ijdgT0UqGEl4vv_kKtK7Ps9dCd0p7P93DREyFgxm1VxGgjXlKOcb0Q5vtmij=
h9SpxyOz00Ol-xltnxfKTmX7nG_yt90DzyMMWKbBXzcYGo_3bKB-hUhBKLj0sHsc20Op0PJAJVJ=
2LlnWFHJs0rUfXO8ssKu5MC16sgR8e4o7VMu1tZWrhjBaYM8La4vRh8I1tfCnATR6xY2NqunFFU=
KruEsEkRYuwzY8goMw4eSZtgxX6A9EKNerjflolMwQVTYxasJVAT-jXZ2ftHXXK3pbSe7H_p4PE=
-eTFWqMj-4pIpH3VGBEaZWhTU4uT5iL6IxHW5jcf3km_MZny8aWfPWfLkMka2LU5/1/01000185=
ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/8Rb5J1T57BWPqnQfTsPkgB=
hxnXbIDEn6wiqQ0dKvQ3o=3D285" target=3D"_blank" rel=3D"noopener noreferrer">=
Axie Infinity</a>, rose 40% over the weekend to reach a four-month high of =
$13.94. Memecoins DOGE and SHIB have also rallied an impressive 25% and 30%=
 since the beginning of the year =E2=80=94 likely boosted by a combination =
of easing risk aversion and <a href=3D"https://comm.coinbase.com/CL0/https:=
%2F%2Flinks.coinbase.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e968971=
3%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt6sEaC=
0h0HPss_OoFPpCCNmU5yy2MS3vkBb8a2nEwg2EJjU-jl5SNYGp7VjcqkzcM1VY3DGU_3nv8KfuI=
UQinAeKorlb3z-EAcDkQVK43oLcmUK3BnLllvFpYnyE4IfTx7xl84IGsCyCAUQxU_7ZDvsnyY_2=
yR_tyrxodBwA67AR-aqj5vQXEEbbcpw2c-49c-1-J2ZI0jNE4aEiXgjR58g63edK89oFh6cyG9a=
mKkExSyMd-UKD1urEnfZ9IfCHoNPaBLPg2hh_tpchf1Ab5X4T1iBSshkxkVxICHYGdQHQwED0ng=
rxX5ZrfmIC1uIY1db5ijE_zsBxZmXFAAnQ-Bk%253D/1/01000185ec381241-f4213a0d-00ad=
-4afa-9df0-e09574125e06-000000/-S5-IU55JQkvdwfDzS9130SC0haeM-ckn3KMvUhJdCY=
=3D285" target=3D"_blank" rel=3D"noopener noreferrer">technical updates</a>=
.&nbsp;</li> </ul> <p style=3D"margin: 0px; padding: 0px;"></p> <p style=3D=
"margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;"><strong>I=
nvestor and analyst sentiment is split regarding the potential longevity of=
 this rally, which was boosted by a </strong><a href=3D"https://comm.coinba=
se.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca5637196741=
8192255878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BN=
iFVaCbXeQZAt8STe0Os_ctB2I5ijdgT0Uq3IfnFzABKLy-37L6wyw3fjtHT9sEpxqhPBvpr46_P=
1qgutwBdp55ozCooH1uIlGXrBuxTArt1liA-vqflwUAcgCLCV_mMNGTfvp4JtQkRBH8DQfKCXxo=
aqROHapjvETCQUVXVnbphgS8iGFfYZqdFcf34CeyB5Y6jPsF5OeEQOrU7_kFGMBxUdHeC5CjWKg=
97urmZBOfSJrRTFTI3AxYMcjNvPefiEFF4urt9FoDChrkCMMPKaZiQD0gQS4vfB3jrJwJSEL5gn=
eMglrG45zELKgLci4IHRNEH4Fm3q7dLFcNAEsl7N6Xv9dMSHf2ZLOlW-_h2J6RX7WswcDdcdWDq=
/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/C2otghwaTI1=
4-3gTrxu7T4AelgKBYbXYY9olIvJD0CU=3D285" target=3D"_blank" rel=3D"noopener n=
oreferrer"><strong>lower inflation</strong></a><strong> reading this month.=
</strong></p> <!--[if mso]><ul style=3D"line-height:1.6;mso-line-height-alt=
:26px;"><![endif]--><!--[if !mso]><!-- --><ul style=3D"margin: 10px 0px 0px=
; padding-left: 24px; line-height: 1.6;"><!--<![endif]--> <li style=3D"marg=
in: 0px; padding: 6px 0px;">A <a href=3D"https://comm.coinbase.com/CL0/http=
s:%2F%2Flinks.coinbase.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689=
713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt50k=
QByL-y2wZw6gmPHlTyGRegqSVdiAW6-dDhKJgg73wctjjTJb6y58nYGMwvu2UYbMvspUUsiUAOV=
29I4vEw2LCCBnrw8TcZtwNwPa1TaG_heRIFyrQMKbFyT38o2J3YyH4VwfDmcHNWam0m2U1LRlFt=
__LUgOfRVtr7NO4TSHbxe6bhnDiJuuQlCyye-gwb1EGuGXvUCYtmN8oWdpA6Uk5U8-3YzsY8XA7=
lZzl7koQwZEjueOqcjIzmp2RtQcnzBPQlSg53ydJSkcRoDFyDWLNoBDl8oLjqUNBKHM39UwjXcb=
IUEoxgQyBZmvA1eW90MQBvyPwCFbwsYDohf-qSc%253D/1/01000185ec381241-f4213a0d-00=
ad-4afa-9df0-e09574125e06-000000/jUsfXmZ2L41enV-vgBndDZZ2ucTIvzxoxX7Ef5OC8h=
0=3D285" target=3D"_blank" rel=3D"noopener noreferrer">Twitter poll</a> fro=
m the widely-followed @Bitcoin account received more than 18,000 responses =
about BTC=E2=80=99s rally =E2=80=94 44% of respondents believed the runup w=
as a =E2=80=9C<a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.co=
inbase.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db=
116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAtw5HdCPL5fjLWZ53yhub=
9W-Sg72rI-_t7JNLEbbgoes0sp4Bg7J-ZQKAyimVrv5bqTfMzHzOM521YKFE53VVfEL3fK1_qHD=
tCT9UOgsbg9y6vqDgWawEp6mF8eoRj3jeXBkIjuOf-Pqs6-C0NR3Pba--rZ_STd9Yym8cLtpeb9=
8olHdz65igA9cjhmgZmOvM-0E4DAhXBkJW7LrjviABZ5RYhCaTagDbP5LvqgZcJV0qwlf6fnbcK=
wD3MjuKKTt5qa50a51JHhZ5F1H1kuE0-kzXyXRMmmXqghJXJ-5PrH_S8arWfHSpNkc4Wukzd6oz=
FCzuWX__iL2KS7z2rSYjurI%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09=
574125e06-000000/U63SPjX3PyGnS1KpmtQ0JOE5eU8FWd7IXRjdPH3oDWw=3D285" target=
=3D"_blank" rel=3D"noopener noreferrer">bull trap</a>=E2=80=9D and that a r=
etracement was imminent, while 34% believed it was the start of a new bull =
run.</li> <li style=3D"margin: 0px; padding: 6px 0px;">Wall Street giant Be=
rnstein <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase=
.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885=
c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt2b8Na636_aeyHNufkg5gPrh8A=
OlzrCoUhh7JGxyIdQ8jLuZAkMCCIbm04gDbZh02X8Whe-46iwZaHaFtreErv0lBpIfguDffzh-b=
qoUsAkp9HajIpqV_IGHUW71EhD7p_2iPNzO5qf_Yuf29jts4rR0AUT0Z0XUpBXcJj2tTQ0TpMu1=
16t_n1JGG7Xrw0BFsTsCIqkskLnh3zv3-VZrEyDiG41eEMW_Bl6iqWY6LrMGYQPn1dN9iSWIDED=
peorZZjcCjE9wHBjg9iin1ySdWPnFPgUItsAldXbp1mdwdvILDQsg1HvLEkYN2foyv-De-25oBy=
W2ky_b0HYoT1Ej0a_vdp8LPOfAGEyf8jZiYAc5HcgNtRqQrjv1AfaOZ7Sauu4orIXKvZ6lirRHS=
ldBjMM%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/=
-mMLbTz7KtOnzaaNuuLbmX1yDtipW0OVXO4-RwvdmR0=3D285" target=3D"_blank" rel=3D=
"noopener noreferrer">described</a> the current rally as a =E2=80=9C<a href=
=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fu%2Fclic=
k%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885c452496d8787010=
f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAtw5HdCPL5fjLWZ53yhub9W8QlOhZrHSf87xJ_0h40=
_zInGEW868InXeUd8Ul7qyjMykKR8e53KEnFgVBEA0OrWSrMTmPVyT012EVJ3tCmjcZ8ttGn6sZ=
ztYN5P8kO0paF-Gy5lFgJ7Vf_MC_AVauUJHQZ5fb_wG12uUTp-pDv1AJShLdv_oTSibfRq_CeSP=
PNUKFulYoiwQwkx9jn5wZnVRAphycyS5OQtWZhAYifeaJNipjt75QOb31dd5N4sTB-TiqHOeCtR=
kCTNoP2UV70WfM9D6RdB-31UEcHdbov4jF-kN7_3oEtLoDONtSlkI3LdDul8MFdos82YrEdl9-G=
qY%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/vs4_=
5AzIHnf9jDjALECJx4BRZRb30CDH5UjmSxcjHek=3D285" target=3D"_blank" rel=3D"noo=
pener noreferrer">mean reversion</a>=E2=80=9D for crypto prices and noted t=
hat BTC has never had two consecutive years of negative returns. =E2=80=9CW=
e would be cautious to be bearish here,=E2=80=9D read an analyst note. =E2=
=80=9CBut is this the start of a new sustained rally? Unlikely.=E2=80=9D&nb=
sp;</li> <li style=3D"margin: 0px; padding: 6px 0px;">According to Morgan S=
tanley analysts, <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks=
.coinbase.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D51=
2db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt2tNLaoatQhtydhYO=
TPgPlH2h03IWQliUNBNvvvBIc2HKjRux3mTWhshXgd-SLs43fL13GIpy93een35z6NOmpczC7Nh=
ldpqs-ckpnV_FC59cqnRSqQAEGkqRr0HPe2cRgVqb8VuYnc8QwMgsTcFNvq1FdOEdbs9pNdh7ZN=
-S7Z9SnUnEDglynvL28ILBbWaiuQhYwtopEPvqIQxc4ah2qAWcexOzVqOCopL1ZHclLCrkgb0S7=
PFfZgBHprGMZ_tzpgNxBw1G_OdXzRBihiZOKi0cgb5rUSSdsLY7tNEwSyW36_512-IUwFnULT4o=
UKx193FiwAqkA-iBVmy1SXKo7RmP3vBuBzdIl65xCIZFkhtFE0wP4BEBhD2VUPma9OA1wd7tfHV=
A80VA-tOq_hhnnxst4EaiCLTeXQNqLlqb5Zr/1/01000185ec381241-f4213a0d-00ad-4afa-=
9df0-e09574125e06-000000/5UXFHVWHkUiP4q02DuXrxNHlWb-N8j55XmtyZnfGOUQ=3D285"=
 target=3D"_blank" rel=3D"noopener noreferrer">liquidations</a> of short BT=
C futures have propelled the rally. However, BTC options analyses have offe=
red mixed signals lately. Per a CoinShares <a href=3D"https://comm.coinbase=
.com/CL0/https:%2F%2Flinks.coinbase.com%2Fu%2Fclick%3F_t=3D3aca563719674181=
92255878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiF=
VaCbXeQZAt85K0vcXHamAzdJ4-w7hJyWVndoOLr4aj-53VVN9w3OIg5w2X0wY1pTa__ghbghOTX=
5FmJak30uQ1v8gWULxsfSnZOnUM25P-KMRTevDlubcoFPlvmsESKNAPWIcdFQ6aKD7hCP0CGMoM=
7uqOsPNh0TvAknT8lXf_Q7sts9HhtNK6bKpEjt2ylsfxr05tBNnAYBk_qD5nV00R-Xtd8hzAlqs=
vBmBKT8lpPFSHIpWjOsnTcIcsSpW3N004Rz8-ZbYYjVR4Klhqj9ZoD0eUNv6op1XYiXDXQQHKYF=
UdtmVlu9biIiEBi7g9SeVM4hh3Cf-TInHhWOffo-_WmI-pmLZ2MumV48OhA7okiyqmNyyRbtKdD=
6E-AczNCV1Zj5d56A-ng%253D%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e=
09574125e06-000000/p5NjlxGTzGkVKk4QaNPr5_iZsGkduvBhF38cUlWVL5Y=3D285" targe=
t=3D"_blank" rel=3D"noopener noreferrer">report</a>, bearish traders domina=
te the market, and of the $37.7 million of new capital poured into crypto-r=
elated funds last week, 68% was short the market. But according to Kaiko Re=
search=E2=80=99s <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks=
.coinbase.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D51=
2db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt8rRdKb7ni5dgFMyg=
9vpX9IcCaNAo0QhQWZnQgAIeXFQ2YHL1YlRaCp4YOP0VDCDpvIb7n3tvAeHZb2Wm0GN0ZXAGWbg=
7b_oEKWPhR4tRwoTV7uh08Dz0EwNIXQhFw1Zy9aS6eJxPznFMg-MU_cP9C-yhCvsecazBjnc1HN=
osoS82lcfTH4sXQAs9iUZZgl0QjZDfIWlnj96w64rWQLIMIu9DLoWZFh_S2xSv1WsrxqvdeSbmo=
s8k-VUOVW-zr0FFUoGJJKm3SmzLWaQnnJOF1s_yXDfLwNXHORaHugMfVFCs2cdNQB9QR_32TZ22=
ylzQdE7cFLFF_kg9G7c-Z_nlrTP2idEc_2Wt8QOokGtz6FkqfpcLtIsiLfoFCKjLImQ3QKMZcQb=
XlW0dywyzuzV95kQ-yBMP8XSs4n26lAym5cO/1/01000185ec381241-f4213a0d-00ad-4afa-=
9df0-e09574125e06-000000/meXlcbnj9FO5hXkzwpMysUjjUHe1t3hZS3KDzR0hwDA=3D285"=
 target=3D"_blank" rel=3D"noopener noreferrer">analysis</a>, bulls are in c=
harge: =E2=80=9CThe share of calls relative to put volume is currently at m=
ore than 66%, its highest level in over a year.=E2=80=9D </li> </ul> <p sty=
le=3D"margin: 0px; padding: 0px;"></p> <p style=3D"margin: 16px 0px 0px; li=
ne-height: 1.6; word-break: break-word;"><strong>Why it matters=E2=80=A6 </=
strong>Perhaps the most straightforward, or at least, honest, take on the c=
rypto uptick came, surprisingly, from J.P. Morgan (more on CEO Jamie Dimon=
=E2=80=99s renewed crypto skepticism in Takes): =E2=80=9CWe don=E2=80=99t h=
ave a great answer on the January-to-date rally of crypto.=E2=80=9D So what=
 are hodlers, investors, and analysts to make of this rally, even as crypto=
 markets remain in a vulnerable position? According to J.P. Morgan, this mo=
ment is =E2=80=9Demblematic of the underlying conviction many still have in=
 cryptocurrencies.=E2=80=9D <strong>&nbsp;</strong></p> <div class=3D"cta_b=
utton" style=3D"margin: 24px 0px 0px; padding: 0px; width: 50%;"><!--[if ms=
o]><table width=3D"100%" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" s=
tyle=3D"border-spacing:0;border-collapse:collapse;mso-table-lspace:0pt;mso-=
table-rspace:0pt;"><tr><td style=3D"padding:0;" align=3D"left"> <v:roundrec=
t xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsof=
t-com:office:word" href=3D"https://links.coinbase.com/a/click?_t=3D3aca5637=
1967418192255878e9689713&_m=3D512db116885c452496d8787010f0b73a&_e=3DakqCY46=
BNiFVaCbXeQZAt8STe0Os_ctB2I5ijdgT0UqGEl4vv_kKtK7Ps9dCd0p76KVwLoEleH5AiR4879=
lAJjAstyexhVe-X1Gu70rQSNRGQ8OJeLCoH9HA7pah3HgHr8qQkB2mXdmr5XjIUHmtbtVyJSLdn=
yUMy41BWBm-efG5NZjI0LJgMLNE3WvvDH2ZVu0FIJ5enwLsIu8zZH4rEnRQwQrpx4LkWmqS8pvb=
nVJCAP3gZt6ggxHWMFn_TkwXru6k0Ko336AiSyrcStSh2Im7kk2ana0uzm-x2lpIhzvPDQ3NvgV=
ZbDTOcRSvsrpKPm4Rn4T29ftWuBwcEo8kzVofiJb84QKMhZiLJ90YWYkgqhG6ME31h5zwvqaZ4u=
kEWdxDrlUhO7GAMOzk4k04ag%3D%3D" style=3D"width:350pt;v-text-anchor:middle;"=
 arcsize=3D"17%" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:=
textbox inset=3D"0,0,0,0"><center style=3D"font-family: Helvetica Neue, Hel=
vetica, Arial, sans-serif;"><![endif]--><a href=3D"https://comm.coinbase.co=
m/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca563719674181922=
55878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaC=
bXeQZAt8STe0Os_ctB2I5ijdgT0UqGEl4vv_kKtK7Ps9dCd0p76KVwLoEleH5AiR4879lAJjAst=
yexhVe-X1Gu70rQSNRGQ8OJeLCoH9HA7pah3HgHr8qQkB2mXdmr5XjIUHmtbtVyJSLdnyUMy41B=
WBm-efG5NZjI0LJgMLNE3WvvDH2ZVu0FIJ5enwLsIu8zZH4rEmY9z0B19J28rdZLH2wjvhtH8MK=
E56RRAfDxrIOJ3lH_zAElo0vjhHPhrfpuZVazJVzPTlLRGVZXMozdW-uVhKSvJ3U0W-Bmxpc1He=
GLShmd1k6jW2t7XeXThIrbsyH54rYDLkp3OzH_TaYB1bvsryOPxSat-854H5UuYNANtavwo5VGi=
gB4NT1G7bqCpT6oeQ%253D%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e095=
74125e06-000000/FK1INmNUS8nQz6f4bmjSdyuwE48UYQiBaw6jyImvm1Q=3D285" target=
=3D"_blank" rel=3D"noopener noreferrer" style=3D"display: block; margin: 0p=
x; 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-a=
lign: center; padding: 18px 0px;"><strong>Learn BTC basics</strong></a><!--=
[if mso]></center></v:textbox></v:roundrect></td></tr></table><![endif]--><=
/div> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.c=
om%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885c4=
52496d8787010f0b73a%26_e=3Dk97rMqoPT1s8fbmXAs6I21FLDYSNPGaWkVT5IULXzOwYFfvl=
Gf52gQpJYDV0OkeMWzz5p5U_5sAxHL_9oUU4gWc1sX2k2yrlRCa-ovt3uNqifIJB5mTOiqSuVbf=
t_WxBEDs8BXCvq6szMicGwaUzDk3OOXQHtKQHBMDOnVrE2GgBGmnzvyqpMui_hZI_ueZZ3ZqX1q=
FrbOwb9XnhndXxdHMqzRVCokT-agyhKlMj-pNs0a2ooTiy91wYVXCrloC84Q1t344yxG-4AcCTN=
tHjRl_cFEbX_xWzMEi52PYIO-_Kg0-7rgCOGnl8_EIaibrinv-X0qn9bAQuaePv-oNgjSXFGUZM=
i5C6RLBg3Qmm2OA%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e0=
6-000000/AgT2DY25kdmKyHOGrfYkTveUxhY_gIctPcHEy3BoqEo=3D285" target=3D"_blan=
k" rel=3D"noopener noreferrer"><!--[if !mso]><!-- --><div class=3D"desktop_=
hide" style=3D"display: none; max-height: 0px; overflow: hidden;"><img src=
=3D"https://images.ctfassets.net/q5ulk4bp65r7/4teCjcLjem1niYca1gZAL2/7d35fb=
7498879e1bbb5eb8ec8946e948/coinbase_bytes_recurringbuys_650x360px.jpg" widt=
h=3D"100%" style=3D"display: block; width: 100%; margin: 64px 0px;"></div><=
!--<![endif]--> <div class=3D"mobile_hide"><img src=3D"https://images.ctfas=
sets.net/q5ulk4bp65r7/5VsknV0vDAHtkTR76kCkdB/005d7f399fa55e57d50380f5ab0585=
5d/coinbase_bytes_recurringbuys_1060x408px.jpg" width=3D"100%" style=3D"dis=
play: block; width: 100%; margin: 64px 0px;"></div> </a> <div> <table style=
=3D"margin: 0px; padding: 0px;"> <tbody> <tr> <td style=3D"margin: 0px; pad=
ding-right: 11px; vertical-align: middle;"><img src=3D"https://d15k2d11r6t6=
rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6=
dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width=3D"12" height=3D"=
12" style=3D"display: block; width: 12px; height: 12px;"></td> <td style=3D=
"margin: 0px; padding: 0px; vertical-align: middle;"><p style=3D"margin: 0p=
x; font-size: 16px; letter-spacing: 0.075em;"><strong> TAKES </strong></p><=
/td> </tr> </tbody> </table> <p style=3D"margin: 5px 0px 0px; font-size: 32=
px; line-height: 1.26; word-break: break-word;"><strong>FTX=E2=80=99s new C=
EO talks about restarting the exchange, and other key quotes from this week=
</strong></p> </div> <p style=3D"margin: 16px 0px 0px; line-height: 1.6; wo=
rd-break: break-word;"><strong>FTX 2.0=E2=80=A6</strong> =E2=80=9CIf there =
is a path forward on that, then we will not only explore that, we=E2=80=99l=
l do it,=E2=80=9D said FTX=E2=80=99s new CEO, John J. Ray III, regarding th=
e idea of, wait for it, restarting the bankrupt crypto exchange. Despite fo=
rmer FTX executives facing charges of criminal misconduct, Ray <a href=3D"h=
ttps://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fu%2Fclick%3F_=
t=3D3aca56371967418192255878e9689713%26_m=3D512db116885c452496d8787010f0b73=
a%26_e=3DakqCY46BNiFVaCbXeQZAt3TS8XtKpW9ugao3T0B2mfa3n4UzK5BQClg08_nlnGgdCP=
i33QfKDiyP_tD_vCK7hdgoO3mydkokfYs2LSCDqXzcNOfU00RZL2Zdpfe-_hlHvyL6W-31ZdjOu=
T8FQ7RKf9jVYwzXK4PGV69rmQzVWEGYqZTY5hsmv6CSrHxBua-SkZxUVjHUM1B2cxMMU1RnTITj=
DJmCmiyWirXvyLQUxOpTtRyT2w7RUIAlj3WwzR8O5m5PUj5I8-ZnkoR0hoB5K4ctEZsAofiI0-s=
yX9LJKG7UVyPOjgm6jdr8dEdytMVL1aggeEYO3FzmV5NCNy3l7j3-mx970_Bam7ecwBm0BPVHkv=
XE_I4cqss0F1sj4i8OCshlKYvNGbJrG-OIbZabvw%253D%253D/1/01000185ec381241-f4213=
a0d-00ad-4afa-9df0-e09574125e06-000000/_xQX6IUsfDhLQrP9BNNcH_GAkUuzFmd5npNh=
BBkBYwA=3D285" target=3D"_blank" rel=3D"noopener noreferrer">told</a> the W=
all Street Journal that he=E2=80=99s created a task force to explore reboot=
ing the business: =E2=80=9CEverything is on the table.=E2=80=9D</p> <p styl=
e=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;"><stro=
ng>Forever 21?...</strong> =E2=80=9CMaybe it's gonna get to 21 million and =
<a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa=
%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885c452496d=
8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt8STe0Os_ctB2I5ijdgT0UqGEl4vv_kKtK=
7Ps9dCd0p7uGTohsGviWpn1Gk6v-nMdGvARLpan2oda81RviL8Fb4XVb7NczrrGXsStLsi8-EcI=
G67FfBGt9DkUvLxB4Bb0lEbL1M5YDIXfV1WPyCOlzXLisAP6CeUt3PpEEUrMaHDm7CkT0svOEnX=
D-bUD3xmyRti7HNWuw5YOfjEMtsVdKEFNhKFYOkGd-qpUOEQf9AMUJIHAE6CFTltOWnBlwVs7kX=
oZAkEKV5WxmzGkYYBHvnPqDAdWJE-IMd6WLpSJRhnkqQjp2Z_92ewC_YkOd2CH2-4VQuhyMdb46=
H6lHDo-dGX5i_P5QKTNJqPQrhtIuyY/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e=
09574125e06-000000/brA1JPHf53MJjXdF2XB7mlky4ez8ij6ZzMpiVa4RkkA=3D285" targe=
t=3D"_blank" rel=3D"noopener noreferrer">Satoshi</a>=E2=80=99s picture is g=
onna come up and laugh at you all=E2=80=9D was how J.P. Morgan CEO Jamie Di=
mon described his =E2=80=94 extremely unlikely (if, okay, kind of funny) =
=E2=80=94 <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinba=
se.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db1168=
85c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt2b59p4Cf8lifOc5vC9WaMLf=
0vx3CqS92b7z5IwEKiUMGrjdoSrP2v983fJByRP_a2oVSpQDGuGZxBqH9H69nrqpyHurKn7tiSk=
QvvEtGODGPzmshYTcABy-gFF7ww8YhS5eCgUgPIVXqhK3qs3W0j4RV9sDL7aBci_hj-PxvrrEx7=
IgHcoCzLTpGpjnUsSq2-ZI0J_hnuaPTs1C9E6TbHRJyS_J928axxl8NQIUkhTAHBojlYwVXkbxk=
teG0nSXdaY5ivBvnw5tS6-VIK9ByuzOLCXhX_-jhpYQlb67V1dOEgSsUtXVi_z5nOy-miW8rEFy=
SA-c7t8-TlU1-l_gAC5HVgTCBRraMFOWLy74UioI/1/01000185ec381241-f4213a0d-00ad-4=
afa-9df0-e09574125e06-000000/TreeSy4WWabeSJYOCa_MEWonTnyEzosLrfhMqOKoqwk=3D=
285" target=3D"_blank" rel=3D"noopener noreferrer">theory</a> that the tota=
l supply of Bitcoin won=E2=80=99t ultimately be limited to 21 million coins=
. A longstanding critic of Bitcoin, Dimon has made similar statements befor=
e, which <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbas=
e.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db11688=
5c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt2wtEkTfeDvxIbZSkJ_xHC5ae=
P4J0jiDbHOJZ6lV9AGQcPbXnKtyRdIOKZQzsDy776w-mi9BD5krd5UPZkA6uLxKURt7jzFTzZha=
QfU5xqCpOiBjh7PNNniPJ9XAODgGRjQgoBVstGFFDBGbXyShdJrAXFasofvqqtbFq5yK56Zq3c2=
YBWlFencHJmj3ZY9cSSMGi7jFC5CAPq_K6cQFIo7IDChz7swKOjx3YfzvK4Gys1voMdFP9XzNX_=
P0CRbDag-S5RxElAkWANgtArgdFLRM54e9poqRMOFTgxFu5DKrhuvcsMnPeySS-vQp2bV-rr8os=
KGPnjXiqB_BN3hTnKfTtLo2_7WVO_gKr3_Jqgj84HQjW8bBwk0m_Jf50G5OeEi2lBLHuTRa476A=
fO-wHFS4x2j9Cswn2xtOFbVL0ALlfBw7ygr1RTI2e99nbgZHxul25tFGwK6ZuK_NjtisBP0tZHc=
xo3oppcDDCbI0QxMFp8E2YyXz9tId6v6sDsuJ6Vb3Q5EOhYmOMYmUCYOFsAhWvcZ7oi-GCeaywU=
v3ZudnR39JkwDWACS63GVG6T1ts9I2ELAMEL323b6kmZB0fOB0ohMS4t7kFKTDHpTGEU1otX1UP=
KJVrYnGY5JyALvdsA%253D%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e095=
74125e06-000000/dxprKww2rIhUl1UszZ62PD2UPIPvB3XWK_kIHhSba30=3D285" target=
=3D"_blank" rel=3D"noopener noreferrer">crypto Twitter has enjoyed debunkin=
g</a>.&nbsp;</p> <p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-b=
reak: break-word;"><strong>Common Ground=E2=80=A6 </strong>=E2=80=9CWonder =
if they would consider moving to Bitcoin - that would probably be the right=
 long term bet,=E2=80=9D Coinbase CEO Brian Armstrong <a href=3D"https://co=
mm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fu%2Fclick%3F_t=3D3aca5=
6371967418192255878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3D=
akqCY46BNiFVaCbXeQZAtzML7QLOVKGSAdsZHXsTFKVoJVxQG5zn91fSN7voEYoKx32jPioV1Ah=
edQTcTeybmPDr_ldblVaauRgnzI-n2gVLo6PZw98x3qvZJSSbBwAD98wyNN3g6ir-x8lK8eYuwf=
E4HrkYp1_zVRIX2eDhQJJx8SLVpItLehuj9G0FRVF1UbWBZ82YQDHbiTIou0knEaNiBaNyRVPOH=
P_8BLAG-8YZyuoZxXGfbFwhV5r4jX5o5lPAJshX35T6fHlu0lHRS6WCx2b88fKgKW9IurZL1AuX=
N1Fhw_fSYz-Jc0qSI7AHfcXaPZRfArLZEqpyWQ5GeJZaHAbmz0osbReUL41Q0jpuKYBCx4iPdfq=
H9X0jKOjh9Uo02QoeswpXwYFFa6k7BA%253D%253D/1/01000185ec381241-f4213a0d-00ad-=
4afa-9df0-e09574125e06-000000/_Ir0CvVlbJYtVsGEZHaic4ebb_TN6GItDesi2xiFYR0=
=3D285" target=3D"_blank" rel=3D"noopener noreferrer">suggested</a> in resp=
onse to the news that Brazil and Argentina are exploring the creation of a =
common currency which would unite South America=E2=80=99s two largest econo=
mies in forming the world=E2=80=99s second-largest currency bloc. The count=
ries=E2=80=99 common-currency proposal was met with <a href=3D"https://comm=
.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fu%2Fclick%3F_t=3D3aca563=
71967418192255878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3Dak=
qCY46BNiFVaCbXeQZAt3afLMraBpi5jq-TIyGkZUqUvoczlwxF_hLS7fV0zFJYKIKUOHETu7ZFk=
A1CDSuieJZl4oo0y6bt_6zk1yGwR7pK2rSU8gjGGtIoGC-K3Vd7vaknRLW_2m3PFKS4IrI7DiIE=
jwOOGmHb3tkeG2zlycIhyO1dJh1l6kEzBJdczxtWvobBmTSle0ybHfyy93ZiO8zDUUC4bDVYkf4=
LEzndrYrKF42Err-8cC-lvvO3kyORQitEViOY_cZ0N_PQt5lS2m1lwd0MUSSKaLFyrbkA7nU8du=
gfRCSYmipZFQpoJx6iVx0upiv2aVqVUtFVQOE9f89kJN3Egowy2blrcAqWlKeup8qtp2XphPTft=
ANi0CPmq1fQzXTEg97lENN6B-tCR-dcLRVCOv_e63EiKQiuNOg%253D/1/01000185ec381241-=
f4213a0d-00ad-4afa-9df0-e09574125e06-000000/4CLJ7KqcvF-V8mi6qrSOh9ARQcRUu8b=
MYxyxNKEEBMA=3D285" target=3D"_blank" rel=3D"noopener noreferrer">skepticis=
m</a> from some economists.&nbsp;</p> <p style=3D"margin: 16px 0px 0px; lin=
e-height: 1.6; word-break: break-word;"><strong>Stealth Mode=E2=80=A6 </str=
ong>=E2=80=9COne of the largest remaining challenges in the Ethereum ecosys=
tem is privacy,=E2=80=9D wrote Ethereum co-founder Vitalk Buterin in a new =
<a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fu=
%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885c452496d=
8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt6mkx0rcG43AuR6cKQqkKZf_qBkrb4jmWb=
fI9Spu0mfcJcoK6RIvW4KVCgl6z8jaTcT8AJd9USJuSTJSuK9MdJOE6ZdWa4ytG79ewziRiWy-1=
xdFpURs3wmV-LUsnlC0fg8D53La3ZqsJtvzDcdJv5mstnhcfG-s8nlXXzntt4C_bJNaZzSDLo9q=
5GUeGA8eNbt57uEwUtNYSIXX6NhSjzKMCjDf9aXoGdOzZqGJUpt418yT4xC9c_vws-udwMcFhp-=
f7YDLxnSi4IY9cZQqpOJRnyrtM46QITwN05XujRsLMTfEoA3oxIr3dbMG-lLIObZbz5Ag1IGRT2=
m7ivd8aE0%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-0000=
00/pa3T3xBzuY3qr2fANbKt4NMmdx6u82ec85h_LpjCHdg=3D285" target=3D"_blank" rel=
=3D"noopener noreferrer">blog post</a> in which he went on to discuss a new=
 tool that could address the fact that what goes onto a public blockchain i=
s public: =E2=80=9Cstealth addresses.=E2=80=9D</p> <div class=3D"cta_button=
" style=3D"margin: 24px 0px 0px; padding: 0px; width: 50%;"><!--[if mso]><t=
able width=3D"100%" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=
=3D"border-spacing:0;border-collapse:collapse;mso-table-lspace:0pt;mso-tabl=
e-rspace:0pt;"><tr><td style=3D"padding:0;" align=3D"left"> <v:roundrect xm=
lns:v=3D"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-co=
m:office:word" href=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967=
418192255878e9689713&_m=3D512db116885c452496d8787010f0b73a&_e=3DakqCY46BNiF=
VaCbXeQZAt8STe0Os_ctB2I5ijdgT0UochWQQ9AcD2E2KX4JWoiF5arfeAqFq9NFTHjrxYptKGq=
vHxBZIOKoHljD9YrvOzWfYLhXuCQGZ9u2TSKQmB1WoYNXVrPluNlePXhuKBz7SmgcAS0uLoHhW0=
sIFAF_wZ5nu-WvFR6beWGtt0kRDKzZgw-10ZsSu6rfQGIi-jzhxe7jmOPYyseErFEcgVpDim19e=
tb66ddnWxTqQ8s2PTXytylpoOkZlGGaC1DZ8lptYyN0_ZGga4ju3VimNYm0QnX3Rt-nf63AQU6z=
ebQ5EI8rzSXuTaMfDwcmQzACap-tTCcl3IyqTgEKOE7cR8Z8r5iw%3D" style=3D"width:350=
pt;v-text-anchor:middle;" arcsize=3D"17%" stroke=3D"false" fillcolor=3D"#00=
52ff"> <w:anchorlock/><v:textbox inset=3D"0,0,0,0"><center style=3D"font-fa=
mily: Helvetica Neue, Helvetica, Arial, sans-serif;"><![endif]--><a href=3D=
"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3=
F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885c452496d8787010f0b=
73a%26_e=3DakqCY46BNiFVaCbXeQZAt8STe0Os_ctB2I5ijdgT0UochWQQ9AcD2E2KX4JWoiF5=
arfeAqFq9NFTHjrxYptKGqvHxBZIOKoHljD9YrvOzWfYLhXuCQGZ9u2TSKQmB1WoYNXVrPluNle=
PXhuKBz7SmgcAS0uLoHhW0sIFAF_wZ5kCyhto5ywYbN591wLcvIs41ks9fP4wo9iRbWYBUiI6sf=
7YamamlYzziwQh3n2CbBIRWrklyDugSfjckbzJvSjmTL_UaT_syy1KO81RVTGei5xlxKlS4wija=
AqlPjB1TjBaqvpUvTrrKe3Yujs-5lVkm62l32tTeJx27vpZ2n77ntkUEG2S9MNT7kd6tl2qnbs%=
253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/K88hp8y=
ZNZUj3EOxwzSQu4ir0eKw4ZW3p9mYa-xnTdc=3D285" target=3D"_blank" rel=3D"noopen=
er noreferrer" style=3D"display: block; margin: 0px; line-height: 1.2; font=
-size: 16px; text-decoration: none; color: rgb(255, 255, 255); background-c=
olor: rgb(0, 82, 255); border-radius: 30px; text-align: center; padding: 18=
px 0px;"><strong>Read up on ETH</strong></a><!--[if mso]></center></v:textb=
ox></v:roundrect></td></tr></table><![endif]--></div> <table width=3D"100%"=
 role=3D"presentation" style=3D"table-layout: fixed; vertical-align: top; b=
order-spacing: 0px; border-collapse: collapse; min-width: 100%; text-size-a=
djust: 100%;"> <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"to=
p" style=3D"word-break: break-word; vertical-align: top; min-width: 100%; t=
ext-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" st=
yle=3D"word-break: break-word; vertical-align: top; text-size-adjust: 100%;=
"><span></span></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <=
div style=3D"margin-bottom: 16px;"> <table style=3D"margin: 0px; padding: 0=
px;"> <tbody> <tr> <td style=3D"margin: 0px; padding-right: 11px; vertical-=
align: middle;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/us=
ers/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca563719674181922558=
78e9689713/dot-1.5x.png" width=3D"12" height=3D"12" style=3D"display: block=
; width: 12px; height: 12px;"></td> <td style=3D"margin: 0px; padding: 0px;=
 vertical-align: middle;"><p style=3D"margin: 0px; font-size: 16px; letter-=
spacing: 0.075em;"><strong> NUMBERS TO KNOW </strong></p></td> </tr> </tbod=
y> </table> </div> <p style=3D"margin: 16px 0px 0px; font-size: 32px;"><str=
ong>$4.6 billion</strong></p> <p style=3D"margin: 4px 0px 0px; line-height:=
 1.6; word-break: break-word;">Approximate value of Ether (2.8 million ETH)=
 that=E2=80=99s been <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Fl=
inks.coinbase.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=
=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt4z3RfKIHwfk=
P0rmL1lU301w3sTo4Fd3Snwgd760VG0EIvannz_yHQfKlal_CO7O85iFqWHjZu5_z97ot0nRPDj=
PSYvmwe245KHEdY8sPIUAkKg9kLIc-FcClPTDQpjeA10fkekFpqt5eSIrFdqbekns7QN8IqKoLL=
JrQhjmj6A7zT6e0xkvKcnspYZEpdCmt92BFExtW6H_MsQdutGsF_1JagoKz2t8081snmd8gbQYm=
J3FAKKWtEPk-0uixMG9An5l6x3uuzFqmK9-9qbJp1P9dqUavM8mtnqLMUVXaCrc/1/01000185e=
c381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/AfR3fnFT1FJS1sOmIfWMJyP=
Y0OpJZ_Hc4stN_Vbwt8U=3D285" target=3D"_blank" rel=3D"noopener noreferrer">b=
urned</a> =E2=80=94 or removed permanently from circulation =E2=80=94 since=
 Ethereum=E2=80=99s <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Fli=
nks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=
=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt8STe0Os_ctB=
2I5ijdgT0UqGEl4vv_kKtK7Ps9dCd0p7Myt83ulV-P5An_T2Osh2YGMLSvO5Hgak4vsgczXf61V=
t0PwDBcwxK6JWQ1JxRPvDO6XvGfFVQXOte3WMz1EZyIb5InMHZ5zGn9-8r8mZayAf2BMv4KlPv0=
y0N_lXAZ_lMqA-FXJNL_AThfswr05uXJagHKqUvsdri8jR1fVRNj650wJaQf5nykbn5hBiymGVa=
8iQ2q3NIspT1SziO41nKB8KHXkgniNCbzkbzE04ousYjVr83jjLwpOalXG5xh_M29MNEfrMHjVJ=
sCB0A511iiSjtMW4GCmOkSyciejSkqqcj6Ei0wpmHiXjB4u12Bm5/1/01000185ec381241-f42=
13a0d-00ad-4afa-9df0-e09574125e06-000000/oND2ZXJS9BPJK_C8Xwo1bRekJOIzjbCp7d=
H6VJfekAk=3D285" target=3D"_blank" rel=3D"noopener noreferrer">EIP-1559 net=
work upgrade</a> went into effect in August 2021. EIP-1559 is intended to m=
ake transaction fees more predictable while reducing ETH=E2=80=99s circulat=
ing supply, which is now over <a href=3D"https://comm.coinbase.com/CL0/http=
s:%2F%2Flinks.coinbase.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689=
713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt1Au=
tZ097wYPZPh9Vxt1pYaIyJRFnObQV0TaqQd3ZN7SgMoDmQRdzcGMbuheKAAy54mOyE6_tWcVKNe=
AaGvcEh-pvtAuTU-pyTzeVDk6fXDZXxbyuHIDvOdxHmc68oC6jXgl8hjc3VWuNT9f9_mQGFemch=
Ju_8Am-vCY0XfxxmtAboVtZoydsAK35iWaHL8RgNovuZsgdRsG9542V5LyW2D8gQnpC5j_ivA69=
F594VBkIkwXY6EvjB7Q_JmOQ-q6BeFZnY5lluoBCPIqvv987N4oKFvl78HwiC86DBRpsg45rPpI=
FSirTqMj9UUyY-xxpWj_nBMVDV9OH7oyaXWsf2U%253D/1/01000185ec381241-f4213a0d-00=
ad-4afa-9df0-e09574125e06-000000/aA8A7RXwvPwoha6_PmEcckp-dzkzWGTUbMpvz-tg9B=
4=3D285" target=3D"_blank" rel=3D"noopener noreferrer">120 million</a> coin=
s.</p> <p style=3D"margin: 16px 0px 0px; font-size: 32px;"><strong>$700 mil=
lion</strong></p> <p style=3D"margin: 4px 0px 0px; line-height: 1.6; word-b=
reak: break-word;">Value of assets linked to FTX and disgraced former CEO S=
am Bankman-Fried that U.S. prosecutors have <a href=3D"https://comm.coinbas=
e.com/CL0/https:%2F%2Flinks.coinbase.com%2Fu%2Fclick%3F_t=3D3aca56371967418=
192255878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNi=
FVaCbXeQZAt2b8Na636_aeyHNufkg5gPrndrtHz9jKI1DvdWv5RtfZrcGnBSvxfAd90ErCqqa_-=
V0sxe5ohycDX3eNOwqXbFMllcFTB3kXbTuuiadGQZ2isL5rdFItkQBZIQ6UegiUyrsf6fx549as=
OD2JfXx0ry9liIz8O1RnkzHzLGS-IaoZweKHJF3qHzl5zAyjp_Wah4WsFfBCeQvq9YBscqe2Pjr=
TyWZCu24bJrzovFsAW4VIuKX3ivlVYzHEoj99yrFlZqGhrALv-PQQPbmj6q7VKp3zjTO5IPQxYi=
hkF6fk8NxRjZDviPsKZzLERncpQcKaVaDoctfLt9WjVrudls9rTxUsd67WfF_51JGzb0qPOXyQn=
9wYw6cq9B7KgFsYCFB24Z58TceCKRTs4REW3jY2hC5l2J7K6HNHCc7PIyv2C1PF/1/01000185e=
c381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/EpGuDtEOj3UyEyT5ewnWdL1=
lEkr3ZZ3EjYdsJdqAAyo=3D285" target=3D"_blank" rel=3D"noopener noreferrer">s=
eized</a>, per a Friday court filing. Comprising the bulk of the repossesse=
d funds were roughly 55 million shares of Robinhood stock (worth about $530=
 million), which law enforcement <a href=3D"https://comm.coinbase.com/CL0/h=
ttps:%2F%2Flinks.coinbase.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9=
689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt=
7FmQqnJ5qMSre7D4ICBtcW_LuFXzGUxI_mfT6kRiZkBR-smhAb9T7iG88ZpiDcmVTUOrurr8iaK=
93JlxH1pWLNbsINDvt5TrlZXRK3WronZ0G_MLKCSy_nKd2cDhWNFgz0-AeATbPzzpQxej2UMxaD=
j9DGCk4G2E3k5o5c88B1hoIIJ_GIyWPtAJoSEGrCDFJ_49uE5ZCkoT66W0tqV44_0dm7wp2V2ga=
-mLlAIxMNgtZD9yDLYgV41kFNo6rK5ad1JvjMhLDpBRUD4zSyaJscRM7BTQl9fd5DwnKDf36rNL=
sRLkvofguBP99ipHktcdzRpyi8M7LCkrDwBc5F5xKuPIUSK9EUqds1uYk8GxdPwDUbu6__r-Kb4=
WbPns0-qSOHmYwmYOuG3eXyFBzIxAtQ%253D/1/01000185ec381241-f4213a0d-00ad-4afa-=
9df0-e09574125e06-000000/ZHJ5yRTXjyKASJTrBwWLl3d92GmD635cb73YGR96zqQ=3D285"=
 target=3D"_blank" rel=3D"noopener noreferrer">alleges</a> had been purchas=
ed with stolen FTX customer funds. Last May, SBF announced he had purchased=
 a 7.6% stake in Robinhood.</p> <p style=3D"margin: 16px 0px 0px; font-size=
: 32px;"><strong>2</strong></p> <p style=3D"margin: 4px 0px 0px; line-heigh=
t: 1.6; word-break: break-word;">Number of consecutive months (December and=
 January) that saw an increase in Ethereum NFT sales =E2=80=94 the first mo=
nth-to-month <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coi=
nbase.com%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db1=
16885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt45ScrFm40BwhdPXgn2gj=
z6B8d7VHZewbADKG31BAGQOI1foEqaHHWzryA2Q1Mb6zUrs1bNmdq62r__3RLKE2KBJ_qrbOpmn=
YP1xYwVeaYLiGO0eD73yumWolINoo8LlIASGxlBHWGCyTzyj063OKj82ebUIitHv6D2naXCfRDD=
QLyEeG8RqsMhvSRoo-C6lFfe0ivvMweJwC_2cfUJxnATsCuJrdq_6uiXgy9NsLqfjBtzGDhzMLt=
L1GOlF6q5KE2QeeeqxDFWGzBuaFofcHbQ9P8Gx08xaN8su-LPkT_G8N-tChRq10wQz9yLGDBLtv=
1gdLNdVq5YnuKDbp6ea9rkBBacIm4xRjFhL9F_ZK66iy2uHfJyp4QGZAiphKxLWJw%253D%253D=
/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/rMetDHWnXKw=
FACIrHU9pkiUEX-DZyXZmHLjbXiH95Es=3D285" target=3D"_blank" rel=3D"noopener n=
oreferrer">improvement</a> since the end of 2021. Leading NFT marketplace O=
penSea has processed over $320 million in NFT volume this month, already be=
ating December=E2=80=99s total of $283.5 million.</p> <p style=3D"margin: 1=
6px 0px 0px; font-size: 32px;"><strong>1 in 26.9 million</strong></p> <p st=
yle=3D"margin: 4px 0px 0px; line-height: 1.6; word-break: break-word;">Esti=
mated <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.c=
om%2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885c4=
52496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAtwjMViDKBTazf5VNso2IPt_9342m=
SCM8nvGg9PsY6oHjZQ72k-7BwCL9WpIGtwSuE_IoiEzEU3XbdJFaBrXUf0S4cYbwyhf3FDIj_5M=
oUcDqTopuh_1IKpAJ7Rqom2i0YGh8VPjvUnKA731cD_5wniSVijJ0y32claGoP1ZE5DPlVtLJCZ=
hiTfcocgMvrLh1v4SGw8khtYwI-l0E7pMuMDbEUjpIZNQO53uRfA9KDpFLVeJFNml7Idykbydap=
NGw81UNZmvahQH35eANq90juSYxmcAmt7r8IOV0Qnk9rKI9ms5u0Org5YzO4oRvMqiPL0THCMnI=
m-6IZgRdnWadldmUKw44zsf-eoox_vpUW4Fz2Y2WBlXS5INVNQykkGggo_lSJ3ywn3T3XzTcFjL=
EvsGqmQW4947zpnlrg_jVGBqq/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574=
125e06-000000/Os-vsiBHP65Enuv57LzU0XXh6YKr-_CXQ45aD3BCQ-g=3D285" target=3D"=
_blank" rel=3D"noopener noreferrer">odds</a> a lucky amateur miner overcame=
 on January 20 to add a new block of data to Bitcoin=E2=80=99s blockchain a=
nd claim a 6.25 BTC <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Fli=
nks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=
=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt8STe0Os_ctB=
2I5ijdgT0UqGEl4vv_kKtK7Ps9dCd0p70xn02uEYRssKcb5TKyly6WJKSpo-jltsi6GRqZI796k=
1xRYZCsypp3s2lRur8EjeTYZkgJsLnvIV9ncXeMOtm9NDOPAPWGeOqmFdCy45f7c3mfoK9SCgNr=
Y4fAlc8A-yW7EyweodiqQ2SzdvytIE-oBw2dIujLfdBa10M4VuChvcQUUk58iRs0e-fsfFPmb5T=
oWi7kw_wM5vvjW3ky-l-zJh0RnaSGHZPY3b-mMiYghwQMhu7mTnweidqKs4IG2Hbf2rQHiLBOE-=
03O56vMwSiMvCx7iHoR3JfNpsXHkr-pJHSHILmoyu1IVNQG4SDDQJoEOW9EbNOo9yhQLSm2TveW=
LlYY9Aia43Qwpeb3y53_2L-1Qowf63vBllgmSWwLd0Q9uJy4sEdFLnpyce0hd0MJJZu7dk8qXxa=
ckakv3KuGR_LaM2bDK6zUyaTIzJEim87SewoFPYefyTEyrk_HOX9PQIUErcEFJJOT2qGFQJsx8i=
hL_N3EvTs5JiEaVsIXi-WsgDrHmSwuuxPN4X3G9zPtx6Eh22B2RaanT_IoZ0RUfoITDkIfQay2q=
T-VzPheHG7gS_7hIDAecRH65xgONxmAfVhujdpSUpprYON33WrFtJR751ezbqBRhuaa3X8_Icsg=
i0imAPkWoGL-orE5_QOgesWsDV0FxkYQKQ-_QepqE1w_x_Pp0LfMW_vCcL9nCSVInrhXLqKE5HE=
y76lPKQ-UVvujFjRmJ0qfnvvHbUlej9VCU2HYppTmBs6V887AHnmspXuY51TY-r3Le2aEetFCr8=
PhQDSfltvJRJEEbygM%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e0957412=
5e06-000000/6IJYXg_2fsPiJ0qsZ6I6-j9QWpJI7BNLrHFpthzNIMU=3D285" target=3D"_b=
lank" rel=3D"noopener noreferrer">block reward</a> (worth about $143,000 as=
 of January 23). In Bitcoin=E2=80=99s early years, anyone with a decently p=
owerful PC could feasibly participate in mining; these days the industry is=
 powered by vast mining farms full of specialized equipment. Individuals ar=
e still welcome to join the network, but the odds of winning against corpor=
ate miners, like Marathon Digital or Argo Blockchain, are extremely long.&n=
bsp;</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" cell=
spacing=3D"0" border=3D"0" style=3D"border-spacing:0;border-collapse:collap=
se;mso-table-lspace:0pt;mso-table-rspace:0pt;"><tr><td style=3D"padding:0;"=
 align=3D"left"> <v:roundrect xmlns:v=3D"urn:schemas-microsoft-com:vml" xml=
ns:w=3D"urn:schemas-microsoft-com:office:word" href=3D"https://links.coinba=
se.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D512db116885c45249=
6d8787010f0b73a&_e=3DakqCY46BNiFVaCbXeQZAt8STe0Os_ctB2I5ijdgT0UqGEl4vv_kKtK=
7Ps9dCd0p70xn02uEYRssKcb5TKyly6e8ZGPabJgQZlc7YBP7ffVuqb5nuH_vCU4OdoTgGWOW_Z=
zlcEiG0wcORWhc0qSrxvHSuRuEAKXgV4Yi8nA1GQn5zs6AYEGUQjuEMkZ5d80tVdYxMpKZ-lxLY=
TlQDmNWeudt878r4TfsWloW7rU7TWgIrTG-JHSnhBIiwjPqjPiHfe4HDKWtqsUQNq-iInzjyN4L=
rETsZRg82NA3HT3h9poG5BJIjwX2f3ucyasIJbDM5jRg4e21YpaR5drGzagsm45RioDwBxUBtIA=
lXUWJkQMwLyV4Ro9N2ZL9tuRj0YHKj" style=3D"width:350pt;v-text-anchor:middle;"=
 arcsize=3D"17%" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:=
textbox inset=3D"0,0,0,0"><center style=3D"font-family: Helvetica Neue, Hel=
vetica, Arial, sans-serif;"><![endif]--><a href=3D"https://comm.coinbase.co=
m/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca563719674181922=
55878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaC=
bXeQZAt8STe0Os_ctB2I5ijdgT0UqGEl4vv_kKtK7Ps9dCd0p70xn02uEYRssKcb5TKyly6e8ZG=
PabJgQZlc7YBP7ffVuqb5nuH_vCU4OdoTgGWOW_ZzlcEiG0wcORWhc0qSrxvHSuRuEAKXgV4Yi8=
nA1GQn5zs6AYEGUQjuEMkZ5d80tVdYxMpKZ-lxLYTlQDmNWeuXy96CVczAho8YeHxaj1rKW5nQl=
xRAjysfiD76LOiq7uU6h1dyDLk8p8kOLOoZQgei2YA2L9Eh8ngRau5VKTtr_uyRGGyCo2LmrJ1p=
DDFLG7QSZ_7wRD_L_74hALwL1qbS-LHeqGdTM2C6uqcPfjx1vqDByO4NV4VoAEWBFk8YJL/1/01=
000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-000000/ba8Re72GbT2pN729=
KQAIoQNOW5MRvgeB2_FE8ImqSBQ=3D285" target=3D"_blank" rel=3D"noopener norefe=
rrer" style=3D"display: block; margin: 0px; line-height: 1.2; font-size: 16=
px; 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 about mining</strong></a><!--[if mso]></center></v:textbox></=
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" st=
yle=3D"word-break: break-word; vertical-align: top; min-width: 100%; text-s=
ize-adjust: 100%; padding: 48px 0px;"><table border=3D"0" cellpadding=3D"0"=
 cellspacing=3D"0" width=3D"100%" align=3D"center" role=3D"presentation" st=
yle=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px; borde=
r-collapse: collapse; border-top: 2px solid rgb(222, 224, 226); width: 100%=
;"> <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"top" style=3D=
"word-break: break-word; vertical-align: top; text-size-adjust: 100%;"><spa=
n></span></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <div> <=
table style=3D"margin: 0px; padding: 0px;"> <tbody> <tr> <td style=3D"margi=
n: 0px; padding-right: 11px; vertical-align: middle;"><img src=3D"https://d=
15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd=
7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width=3D"12"=
 height=3D"12" style=3D"display: block; width: 12px; height: 12px;"></td> <=
td style=3D"margin: 0px; padding: 0px; vertical-align: middle;"><p style=3D=
"margin: 0px; font-size: 16px; letter-spacing: 0.075em;"><strong> TOKEN TRI=
VIA </strong></p></td> </tr> </tbody> </table> <p style=3D"margin: 5px 0px =
0px; font-size: 32px; line-height: 1.26; word-break: break-word;"><strong>B=
itcoin is to BTC as Polkadot is to:</strong></p> </div> <div style=3D"margi=
n-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=
>DOT</td> </tr> <tr> <td style=3D"padding-right: 12px; padding-top: 12px;">=
<strong>B</strong></td> <td style=3D"padding-top: 12px;">POKE</td> </tr> <t=
r> <td style=3D"padding-right: 12px; padding-top: 12px;"><strong>C</strong>=
</td> <td style=3D"padding-top: 12px;">POLKA</td> </tr> <tr> <td style=3D"p=
adding-right: 12px; padding-top: 12px;"><strong>D</strong></td> <td style=
=3D"padding-top: 12px;">SPOT</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"m=
argin: 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-=
spacing:0;border-collapse:collapse;mso-table-lspace:0pt;mso-table-rspace:0p=
t;"><tr><td style=3D"padding:0;" align=3D"left"> <v:roundrect xmlns:v=3D"ur=
n:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:office:wo=
rd" href=3D"https://links.coinbase.com/a/click?_t=3D3aca5637196741819225587=
8e9689713&_m=3D512db116885c452496d8787010f0b73a&_e=3DakqCY46BNiFVaCbXeQZAt8=
STe0Os_ctB2I5ijdgT0UqGEl4vv_kKtK7Ps9dCd0p7xxZPbXMKnj5lLinJJ3C0zOJh44duWwJM0=
vvs3-HCUbNFQhQiBKAtGr_fN9ReYS8ypXbv5jTkB8dC3hOU0ZZ1hQEphqXUutfUx4_6UNY7OHUr=
FzLpWCzmWB2JKOKhxzY6i7xaN4Z9Fl4bYUCA_Ux0OjbAV47x_6xamWoTkRS0yPgjVLom2MNDEWO=
k878DGj89XnCybyZ_sVaCjuMSoZcStwckg7S__cc47Ng9T2S8yj8nxjgDQEjh8aO-Zgj1hrK-Am=
GcGMhAKQeaLZkwvArX6giga49fjpmNAuTWqx03wNb5_hWFP_ZZT6V72_jKQxt3wDyIfc73tQFn3=
dFfNjPfyg%3D%3D" style=3D"width:350pt;v-text-anchor:middle;" arcsize=3D"17%=
" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:textbox inset=
=3D"0,0,0,0"><center style=3D"font-family: Helvetica Neue, Helvetica, Arial=
, sans-serif;"><![endif]--><a href=3D"https://comm.coinbase.com/CL0/https:%=
2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713=
%26_m=3D512db116885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt8STe0O=
s_ctB2I5ijdgT0UqGEl4vv_kKtK7Ps9dCd0p7xxZPbXMKnj5lLinJJ3C0zOJh44duWwJM0vvs3-=
HCUbNFQhQiBKAtGr_fN9ReYS8ypXbv5jTkB8dC3hOU0ZZ1hQEphqXUutfUx4_6UNY7OHUrFzLpW=
CzmWB2JKOKhxzY6i7xaN4Z9Fl4bYUCA_Ux0OqUWKHjbtcCm4ESEnvYb2GBud_G9lC92HQ5k5XLw=
gSOelh9in_97l_FvgHpIsBsoR7kDbCRFbPJX2gSGUlrtgC8GeGLxsP5Pyyj9mHhQ0CMiDciJQLS=
wXoMFaE7Yz5wpX3cp87guXTIKWoflDoAZlfqtFGQw-fnv_4hKs355YjEmT9WbOEctQXGo14WkYC=
pzlQ%253D%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-0000=
00/iEPruvKBXQXAJIplqNnzF-BJGjKqyNxXr3ZJBeF8e50=3D285" target=3D"_blank" rel=
=3D"noopener noreferrer" style=3D"display: block; margin: 0px; line-height:=
 1.2; font-size: 16px; text-decoration: none; color: rgb(255, 255, 255); ba=
ckground-color: rgb(0, 82, 255); border-radius: 30px; text-align: center; p=
adding: 18px 0px;"><strong>Learn about Polkadot</strong></a><!--[if mso]></=
center></v:textbox></v:roundrect></td></tr></table><![endif]--></div> <tabl=
e width=3D"100%" role=3D"presentation" style=3D"table-layout: fixed; vertic=
al-align: top; border-spacing: 0px; border-collapse: collapse; min-width: 1=
00%; text-size-adjust: 100%;"> <tbody> <tr style=3D"vertical-align: top;"> =
<td valign=3D"top" style=3D"word-break: break-word; vertical-align: top; mi=
n-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" rol=
e=3D"presentation" style=3D"table-layout: fixed; vertical-align: top; borde=
r-spacing: 0px; border-collapse: collapse; border-top: 2px solid rgb(222, 2=
24, 226); width: 100%;"> <tbody> <tr style=3D"vertical-align: top;"> <td va=
lign=3D"top" style=3D"word-break: break-word; vertical-align: top; text-siz=
e-adjust: 100%;"><span></span></td> </tr> </tbody> </table></td> </tr> </tb=
ody> </table> <div> <table style=3D"margin: 0px; padding: 0px;"> <tbody> <t=
r> <td style=3D"margin: 0px; padding-right: 11px; vertical-align: middle;">=
<img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/=
669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1=
.5x.png" width=3D"12" height=3D"12" style=3D"display: block; width: 12px; h=
eight: 12px;"></td> <td style=3D"margin: 0px; padding: 0px; vertical-align:=
 middle;"><p style=3D"margin: 0px; font-size: 16px; letter-spacing: 0.075em=
;"><strong> NOW TRADING ON COINBASE </strong></p></td> </tr> </tbody> </tab=
le> </div> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinb=
ase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116=
885c452496d8787010f0b73a%26_e=3DakqCY46BNiFVaCbXeQZAt8STe0Os_ctB2I5ijdgT0Uo=
3ThJInsb5nC7yX7H1CzhgX4Fugr5c2aGNeR96J2oxeBItrRY4iSJosI68PE9l5-9Jk07B5dwE0T=
VWo_eyBQs1MFIE10tu50qbYqKFCbInQviIWRYRMUZ5PlGt-PtRh7auvuWgLFlRbqP3YYu4GD63x=
_ij5WX3fMyBViVTPkGQXnxrMU-ei315rTSJHuvyWE84mQYphqn3F1gvgehLzYKZLsqYyoxzSwRY=
N22wfQgkj1vKPNs0P__EXrUrScEoltg5nJa3fLXaA17cekVB3He-b8k4jiW5yl071j0ZtFO8YTb=
f0u1-FQmyPk_wcTp4mM8%253D/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574=
125e06-000000/gvG6gOSHylrRnjIM82moGhHueeLgIo2AcHZS0BwMY0s=3D285" target=3D"=
_blank" rel=3D"noopener noreferrer" style=3D"color: rgb(10, 11, 13); text-d=
ecoration: none;"> <table style=3D"margin: 16px 0px 0px; width: 100%;"> <tb=
ody> <tr> <td style=3D"font-size: 32px; line-height: 1.26; word-break: brea=
k-word; vertical-align: middle; white-space: nowrap;"><strong>KAVA</strong>=
</td> <td style=3D"vertical-align: middle; padding-left: 12px;"><img src=3D=
"https://dynamic-assets.coinbase.com/60f6324353136b6abb4b00c5dde894888622d8=
75f8949c832f24fb245468a7cd18cd281e7278e9d5dba7629a9f25fe11d87ed728bd180f521=
88431318f980844/asset_icons/eb96f3195eadea4f1e3c9fa4cd05854f2b96a91f2bbc602=
5fcdf4e44615aec6d.png" width=3D"26" height=3D"26" style=3D"display: block; =
width: 26px; height: 26px; vertical-align: middle;"></td> <td style=3D"vert=
ical-align: middle; text-align: right; width: 100%;"><img src=3D"https://d1=
5k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7=
e-c542cff6dd6a/3aca56371967418192255878e9689713/Newsletter%20Assets/newlist=
ings_light.png" width=3D"21" height=3D"18" style=3D"width: 21px; height: 18=
px; vertical-align: middle;"></td> </tr> </tbody> </table> <p style=3D"marg=
in: 0px; line-height: 1.6;">KAVA is the native token of Kava, a blockchain =
network built with the Cosmos SDK. </p> </a> <table width=3D"100%" role=3D"=
presentation" style=3D"table-layout: fixed; vertical-align: top; border-spa=
cing: 0px; border-collapse: collapse; min-width: 100%; text-size-adjust: 10=
0%;"> <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" ce=
llspacing=3D"0" width=3D"100%" align=3D"center" role=3D"presentation" style=
=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px; border-c=
ollapse: collapse; border-top: 2px solid rgb(222, 224, 226); width: 100%;">=
 <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"top" style=3D"wo=
rd-break: break-word; vertical-align: top; text-size-adjust: 100%;"><span><=
/span></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <p style=
=3D"margin: 0px; line-height: 1.6; word-break: break-word;"><strong>Trivia =
answer</strong></p> <table style=3D"margin: 12px 0px 0px; line-height: 1.6;=
 word-break: break-word;"> <tbody> <tr> <td style=3D"padding-right: 12px;">=
<strong>A</strong></td> <td>DOT</td> </tr> </tbody> </table> <table style=
=3D"margin: 48px 0px 0px;"> <tbody> <tr> <td style=3D"text-align: left;"><i=
mg src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/66=
9d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Rebrand=
%20Assets/coinbase_footer_wordmark.png" alt=3D"Coinbase" height=3D"26" styl=
e=3D"display: block; height: 26px; margin-bottom: 24px;"></td> </tr> <tr> <=
td><a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%=
2Fu%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D512db116885c4524=
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B1-9XOBUZ5bEXuQUt_Av7_kdQX68PfL8L3OM9w3KsfPxj7oYWr5aeEeR5tqJx9GVvtXj__K3Lsg=
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0rEKi88X2d8-UYMISy60q_hBKcty55-nHdtElW_LXPIioiuHXL83N0_KhHeZH9rQffKXpKgwGG4=
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tle=3D"coinbase ios app" target=3D"_blank" rel=3D"noopener noreferrer"><img=
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_apple.png" alt=3D"Download on iOS App store" height=3D"46" style=3D"displa=
y: block; height: 46px; margin-right: 8px;"></a></td> <td><a href=3D"https:=
//comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fu%2Fclick%3F_t=3D3=
aca56371967418192255878e9689713%26_m=3D512db116885c452496d8787010f0b73a%26_=
e=3DakqCY46BNiFVaCbXeQZAt3OoeyoIQp7KW9ir8uFkw7l19vHGU-EebsJev_Q31o2SMAxIXyC=
28xj_l017zzH5KfvOuGhMhvqLsaMzjILuQFv1C_pm1sJu6A4TcGJOxAvXi_bMjJvMSsFDXSGqar=
dhgyzSHH7yuFeyoOGvT5GGBRCnqktC--VqrhosHEhICKe15B8fnFu8Gp5DpqDjKM4I7JyfA_Klh=
kDu0n8UHbadjGtNeTMY3Haz8GhoA3bqMzsLBXMG-Gz7xLAEkic3fXcEzhqhfeLLKJ8FoMdRx3wQ=
p49ril8fEUccoMvsvF56WVovK_-VhfbDptqg1c51Wjh4iKARncUwVr_GQo0rpWHGlqtathNPs3D=
Xn1iXVKsKb0aD/1/01000185ec381241-f4213a0d-00ad-4afa-9df0-e09574125e06-00000=
0/vEJ4yS7peGY-RTJgexouYr8xDhANnsSB6-mJ0le0mYo=3D285" title=3D"coinbase andr=
oid app" target=3D"_blank" rel=3D"noopener noreferrer"><img src=3D"https://=
d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-b=
d7e-c542cff6dd6a/3aca56371967418192255878e9689713/Icons/app_google.png" alt=
=3D"Download on Google Play" height=3D"46" style=3D"display: block; height:=
 46px;"></a></td> </tr> </tbody> </table> <div style=3D"margin-top: 24px;">=
 <p style=3D"font-size: 12px; line-height: 1.8; word-break: break-word; col=
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