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Date: Thu, 23 Jun 2022 08:01:30 +0000
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From: Coinbase Bytes <newsletter@mail.coinbase.com>
Message-ID: <010001818f949d22-ed31d65c-f1ec-41ed-8952-34160e9057a3-000000@email.amazonses.com>
Mime-Version: 1.0
Reply-To: newsletter@mail.coinbase.com
Subject: Bitcoin just hit a 2022 low
To: Vincent Herbert <vince@showfile.com>

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Content-Transfer-Encoding: quoted-printable

Coinbase Bytes Bitcoin dropped to a key level for the first time this weeke=
nd.=20
We=E2=80=99re taking a closer look. View in browser=20
<https://links.coinbase.com/e/evib?_t=3D3aca56371967418192255878e9689713&_m=
=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3DwTaZMfKYT_MR1_J7nhgj26t16mxtwr9jCX=
GXP9q90rHuZu-TWZ3NOF0yEtqhY8yXbYTA8UYoYmjODJQpCtPEx5GkqdyROKX6lfxEgydzGzFdV=
njipprs1p2YeQEHo4fJ4TU76HUKfc76n2c8f9jMFw%3D%3D>
 <https://coinbase.com>=20
 23-Jun-2022=20
 <https://coinbase.com?src=3Dhero>=20
As the U.S. Federal Reserve navigates stormy economic conditions, crypto=20
markets continue to set new lows for 2022. [crbellete 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:=20
 * Crypto markets crashed to 2022 lows. Bitcoin sank below a key psychologi=
cal=20
price level, but there may still be some silver linings.=20
 * Key cryptoverse quotes. Compelling takes from Mike Novogratz, Michael=20
Saylor, Gene Simmons, and more.=20
 * Noteworthy numbers. A Solana-based NFT marketplace achieves =E2=80=9Cuni=
corn=E2=80=9D=20
status and other key figures to know this week.=20




Bitcoin

 =C2=A316,797.77=20

 -6.52%=20
 <https://coinbase.com/price/bitcoin?bytes_title=3Dbitcoin>=20

Ethereum

 =C2=A3896.15=20

 -6.85%=20
 <https://coinbase.com/price/ethereum?bytes_title=3Dethereum>=20


Cardano

 =C2=A30.39=20

 -7.96%=20
 <https://coinbase.com/price/cardano?bytes_title=3Dcardano>=20

Solana

 =C2=A329.48=20

 +8.86%=20
 <https://coinbase.com/price/solana?bytes_title=3Dsolana>=20


Dogecoin

 =C2=A30.05=20

 +10.25%=20
 <https://coinbase.com/price/dogecoin?bytes_title=3Ddogecoin>=20

Polkadot

 =C2=A36.25=20

 -3.40%=20
 <https://coinbase.com/price/polkadot?bytes_title=3Dpolkadot>=20


Bitcoin

 =C2=A316,797.77=20

 -6.52%=20
 <https://coinbase.com/price/bitcoin?bytes_title=3Dbitcoin>=20

Ethereum

 =C2=A3896.15=20

 -6.85%=20
 <https://coinbase.com/price/ethereum?bytes_title=3Dethereum>=20

Cardano

 =C2=A30.39=20

 -7.96%=20
 <https://coinbase.com/price/cardano?bytes_title=3Dcardano>=20


Solana

 =C2=A329.48=20

 +8.86%=20
 <https://coinbase.com/price/solana?bytes_title=3Dsolana>=20

Dogecoin

 =C2=A30.05=20

 +10.25%=20
 <https://coinbase.com/price/dogecoin?bytes_title=3Ddogecoin>=20

Polkadot

 =C2=A36.25=20

 -3.40%=20
 <https://coinbase.com/price/polkadot?bytes_title=3Dpolkadot>=20
Price changes are for the past week, ending on Jun 23, 2022 at 07:59 AM UTC
See the latest prices <https://coinbase.com/price>=20



 MARKET UPDATE=20

As global recession fears loom, Bitcoin drops below key price level. Are th=
ere=20
any silver linings?

No sugarcoating it this week: It=E2=80=99s ugly out there. The S&P 500 is f=
irmly in=20
bear market territory, having notched itsworst week=20
<https://www.wsj.com/articles/global-stocks-markets-dow-update-06-16-2022-1=
1655451461>
 since March 2020; Bitcoin sank as low as $17,567 on Saturday (before retak=
ing=20
$20,000 to start the week); crypto=E2=80=99s global market cap has retreate=
d under $1=20
trillion for the first time since January 2021; and crypto firms like Celsi=
us=20
and Three Arrows Capital are facing liquidity issues.

All of this is further exacerbated by the U.S. Federal Reserve=E2=80=99s in=
creasingly=20
drastic moves to combat the country=E2=80=99s highest inflation spike in 41=
 years =E2=80=94=20
moves that couldinduce a recession=20
<https://www.fortuneindia.com/macro/will-us-fed-induced-rate-hike-push-the-=
world-into-recession/108623>
.

Like we said, it=E2=80=99s ugly at the moment. But it=E2=80=99s not all bad=
 news this week.=20
Let=E2=80=99s break it all down.

 * Bitcoin crashed below its 2017 peak of $19,783 =E2=80=94 the first time =
the=20
cryptocurrency has ever sunk below a previous bull run's high-water mark. W=
hile=20
this price reversal is unprecedented, it=E2=80=99s not as steep a decline a=
s the 85%=20
slide BTC saw in the year after 2017=E2=80=99s peak (or the99%=20
<https://www.yahoo.com/video/7-biggest-bitcoin-crashes-history-180038282.ht=
ml>=20
nosedive BTC survived in 2011). Still, last weekend=E2=80=99s low placedmor=
e than 50%=20
<https://twitter.com/glassnode/status/1538519717438177281> of BTC holders i=
n=20
the red, according to Glassnode, and left even veteran HODLers with sober=
=20
outlooks about the emergingcrypto winter=20
<https://www.forbes.com/advisor/in/investing/what-is-crypto-winter/#:~:text=
=3DThe%20phrase%20%E2%80%9Ccrypto%20winter%E2%80%9D%20likely,of%20Westeros%=
20at%20any%20time.>
. As Kraken exec Dan Heldput it=20
<https://twitter.com/danheld/status/1538123002801446912?cxt=3DHHwWgICzrZiuw=
dgqAAAA>
 this weekend: =E2=80=9CWe are on the path of maximum pain.=E2=80=9D=20
 * Inflation, and the Fed=E2=80=99s efforts to fight it, are putting pressu=
re on both=20
stock and crypto markets. After May=E2=80=99s historic 8.6%=20
<https://www.bls.gov/opub/ted/2022/consumer-prices-up-8-6-percent-over-year=
-ended-may-2022.htm#:~:text=3DFrom%20May%202021%20to%20May,the%20period%20e=
nding%20December%201981.>
 year-over-year spike in consumer prices, the Federal Reserve responded wit=
h an=20
=E2=80=9Cunusually large=20
<https://blockworks.co/powell-calls-feds-0-75-rate-increase-unusually-large=
-warns-of-slowing-economy/>
=E2=80=9D 0.75% interest rate hike last Wednesday, stokingfears=20
<https://www.marketwatch.com/story/the-odds-of-recession-are-rising-but-the=
-u-s-economy-is-not-doomed-to-a-downturn-11655479959>
 that the Fed=E2=80=99s efforts to combat inflation would tip the U.S. into=
 a=20
recession. This marked a faster-than-expected reversal of the pandemic-era =
rate=20
cuts and stimulus that previously boosted riskier assets like tech stocks a=
nd=20
crypto withexcess consumer cash=20
<https://www.nytimes.com/2022/01/22/business/economy/inflation-biden-pandem=
ic.html>
. After the announcement, BTC and ETH dropped as much as 16% and 20%,=20
respectively, before both rallying to start the week.=20
 * The crypto downturn has also prompted liquidity issues for several digit=
al=20
asset firms, including Celsius, Three Arrows Capital, and Babel Finance. La=
st=20
week, crypto bank Celsius, which manages $11 billion in assets for 1.7 mill=
ions=20
users, cited =E2=80=9Cextreme market conditions=E2=80=9D as the reason it w=
aspausing=20
<https://www.wsj.com/articles/bitcoin-revisits-late-2020-levels-as-it-suffe=
rs-fresh-selloff-11655096332?mod=3Darticle_inline>
 all withdrawals, raising questions about the source of its notably high 18=
%=20
yield on crypto deposits. In a similar move on Friday, Hong Kong-based cryp=
to=20
lender Babel Finance halted service,citing=20
<https://babel.finance/article-views.html?id=3D50> =E2=80=9Cunusual liquidi=
ty pressures.=E2=80=9D=20
Meanwhile, crypto hedge fund Three Arrows Capital isreportedly=20
<https://blockworks.co/crypto-fund-three-arrows-capital-facing-potential-in=
solvency-report/>
 facing potential insolvency afterfailing to meet capital demands=20
<https://www.ft.com/content/126d8b02-f06a-4fd9-a57b-9f4ceab3de71> from lend=
ers.=20
 * Sheesh, so what about those silver linings? A Bank of America survey fro=
m=20
this monthindicates=20
<https://markets.businessinsider.com/news/currencies/crypto-market-investor=
s-crypto-bank-america-bofa-recession-stocks-bear-2022-6>
 that 91% of respondents plan to buy crypto in the next six months, despite=
 the=20
downturn. And according to a Deloitte survey, 85% of U.S. retail execs thin=
k=20
digital currency payments will become =E2=80=9Cubiquitous=20
<https://decrypt.co/102510/deloitte-85-of-merchants-expect-ubiquitous-digit=
al-currency-payments-in-five-years>
=E2=80=9D in the next five years. Meanwhile BTC=E2=80=99s mining power (or =
=E2=80=9Chashrate=E2=80=9D) =E2=80=94 often
cited=20
<https://www.blockchain.com/charts/hash-rate#:~:text=3DMining%20hashrate%20=
is,current%20block%20difficulty.>
 as a proxy for network health and security =E2=80=94 recently hit a newall=
-time high=20
<https://www.blockchain.com/charts/hash-rate> above 230 million terahashes =
per=20
second. And this month, Ethereum transitioned toproof of stake=20
<https://www.coinbase.com/learn/crypto-basics/what-is-proof-of-work-or-proo=
f-of-stake>
 on itsRopsten test network=20
<https://decrypt.co/102320/ethereum-merge-ropsten-live>, a key milestone fo=
r=20
its long awaited, energy-efficientupgrade=20
<https://www.coinbase.com/bytes/archive/what-is-the-ethereum-merge-proof-of=
-stake#:~:text=3D(Learn%20about%20staking%20via%20Coinbase,Chain%20is%20sta=
ke%20your%20ETH.>
.=20


Why it matters=E2=80=A6 This may be the first crypto winter=20
<https://www.forbes.com/advisor/in/investing/what-is-crypto-winter/#:~:text=
=3DThe%20phrase%20%E2%80%9Ccrypto%20winter%E2%80%9D%20likely,of%20Westeros%=
20at%20any%20time.>
 to coincide with extensive macroeconomic setbacks, but it=E2=80=99s crucia=
l to zoom=20
out and take the long view. Since Bitcoin=E2=80=99s invention in 2009, the =
crypto=20
market has survived numerous winters (with even more severedrops=20
<https://www.yahoo.com/video/7-biggest-bitcoin-crashes-history-180038282.ht=
ml>=20
in BTC=E2=80=99s price) and each downturn actually produced key innovations=
 =E2=80=94Ethereum=20
<https://www.coinbase.com/learn/crypto-basics/what-is-ethereum>, DeFi=20
<https://www.coinbase.com/learn/crypto-basics/what-is-defi>, and collateral=
ized=20
stablecoins=20
<https://www.coinbase.com/learn/crypto-basics/what-is-a-stablecoin#:~:text=
=3DA%20stablecoin%20is%20a%20digital,to%20unpegged%20cryptocurrencies%20lik=
e%20Bitcoin.>
 were all largely developed during down cycles and became critical technolo=
gies=20
during subsequent bull runs. So, what can we expect from this crypto winter=
? As=20
billionaire crypto-enthusiast Mark Cubanput=20
<https://fortune.com/2022/06/15/ethereum-maximalist-mark-cuban-crypto-crash=
-warren-buffett-advice/>
 it: =E2=80=9CDisruptive applications and technology released during a bear=
 market,=20
whether stocks or crypto =E2=80=A6 will always find a market and succeed.=
=E2=80=9D
Learn to manage down cycles=20
<https://www.coinbase.com/learn/tips-and-tutorials/how-to-minimize-your-los=
ses-during-a-falling-market?src=3Dmarketupdate_cta>



 TAKES=20

From billionaire Mike Novogratz to Kiss=E2=80=99s Gene Simmons, the week=E2=
=80=99s crypto-iest=20
quotes

Galaxy brain=E2=80=A6 According to Mike Novogratz, CEO of crypto-focused in=
vestment=20
firm Galaxy Digital, Bitcoin =E2=80=9Cwill lead the markets back out of thi=
s Fed=20
tightening.=E2=80=9D While acknowledging that the current crypto downcycle =
has been=20
=E2=80=9Cmore painful=E2=80=9D than previous bear markets, Novogratz toldCN=
BC=20
<https://www.youtube.com/watch?v=3Dyqm0_maSOO4&t=3D1s> that the tide could =
turn=20
once the Fed becomes less hawkish on inflation.

Smooth Sayling=E2=80=A6 =E2=80=9C#Bitcoin is the antidote to chaos,=E2=80=
=9D tweeted=20
<https://twitter.com/saylor> Michael Saylor, the laser-eyed, BTC-boosting C=
EO=20
of MicroStrategy, which is the largest corporate BTC holder in the U.S. As=
=20
such, some investors were worried the software company would face amargin c=
all=20
<https://www.investopedia.com/terms/m/margincall.asp> on a $205 million=20
BTC-backed loan it took in March. But Saylortold CNBC=20
<https://www.cnbc.com/2022/06/15/bitcoin-microstrategy-denies-it-received-m=
argin-call-against-silvergate-loan.html>
, =E2=80=9CThe margin call thing is much ado about nothing.=E2=80=9D

DOGE defender=E2=80=A6 Dogecoin doesn=E2=80=99t =E2=80=9Cget the credit it =
deserves for helping=20
onboard people into the space,=E2=80=9Dclaimed=20
<https://decrypt.co/103092/dogecoin-deserves-more-credit-ex-robinhood-coo>=
=20
Christine Brown, the former COO of Robinhood Crypto. The dog-themed meme-co=
in=20
gets a =E2=80=9Cbad rap,=E2=80=9D said Brown, who sees its lighthearted nat=
ure as a positive=20
attribute that attracted new users to crypto by making it seem fun and=20
accessible.

Rock =E2=80=98n=E2=80=99 hold all night=E2=80=A6 Kiss frontman Gene Simmons=
 may no longer have a=20
diamond-studded costume, but he does indeed havediamond hands=20
<https://www.coinbase.com/learn/tip-and-tutorials/crypto-slang-guide>. Last=
=20
week, the 72-year-old rocker took to Twitter to announce his confidence in=
=20
crypto: =E2=80=9CRe Crypto currencies: (Write it down.) I Am A HODLER. I ha=
ve not sold=20
a single position since the downturn. I believe in the future. The Near Fut=
ure.=E2=80=9D
Learn BTC basics=20
<https://www.coinbase.com/learn/crypto-basics/what-is-bitcoin?src=3Dtakes_c=
ta>=20



 NUMBERS TO KNOW=20

$1.6 billion

The =E2=80=9Cunicorn <https://www.investopedia.com/terms/u/unicorn.asp>=E2=
=80=9D valuation of=20
Magic Eden =E2=80=94 the largest Solana-based NFT marketplace =E2=80=94 aft=
er this week=E2=80=99s$130=20
million=20
<https://www.coindesk.com/business/2022/06/21/solana-nft-marketplace-magic-=
eden-raises-130m-at-16b-valuation/>
 Series B funding round. Meanwhile, industry leader OpenSea, which just ena=
bled=20
Solana NFTs in April, has a valuation of $13.3 billion after a$300 million=
=20
fundraise <https://www.protocol.com/bulletins/opensea-13-billion-valuation>=
 in=20
January. (Solana is a popular alternative to ETH, thanks largely to speedy=
=20
transactions and low fees.)

15,000

The number of people <https://twitter.com/NFT_NYC/status/153921894911572787=
7>=20
descending on New York City this week to attend NFT.NYC, the largest annual=
 NFT=20
conference. With triple the attendance from last year, this year=E2=80=99s =
fest will=20
include everything from the premiere of Coinbase=E2=80=99s Bored Apesfilm=
=20
<https://emamo.com/event/nftnyc/s/coinbase-presents-the-degen-trilogy-part-=
1-Ww1JQN>
 to panels on wearable NFT fashion and the second annual NFT Awards, not to=
=20
mention plenty of late-night after-parties from collectives likeWorld of Wo=
men=20
<https://twitter.com/worldofwomennft/status/1538181723028131844>, Friends w=
ith=20
Benefits <https://gatekeep.it/nDXCkwionx>, and The Heart Project=20
<https://twitter.com/HeartNFTs/status/1537176332496318466?s=3D20&t=3DbCgGpU=
_MkfkxD-qqXutPOA>
.

$1,900

The current retail price=20
<https://www.tagheuer.com/us/en/smartwatches/collections/tag-heuer-connecte=
d/42-mm/SBR8010.BC6608.html>
 of a Tag Heuer Connected Calibre E4 smartwatch, which comes with the abili=
ty=20
to display your favorite NFT on the watch face along with proof of ownershi=
p.=20
The luxury watchmaker recently started accepting more than adozen=20
cryptocurrencies=20
<https://decrypt.co/103013/tag-heuer-wants-you-to-wear-your-bored-ape-on-yo=
ur-wrist>
 as payment in the U.S., and its CEO, Fr=C3=A9d=C3=A9ric Arnault, is the pr=
oud owner of a=20
Bored Ape NFT, which serves as hisTwitter profile picture=20
<https://twitter.com/f_arnault>. And perhaps his watch face, too.=20

Web5!?

The =E2=80=9Cextra decentralized=E2=80=9D version of the internet that Bloc=
k (formerly Square)=20
CEO Jack Dorseysaid=20
<https://twitter.com/jack/status/1535314738078486533?cxt=3DHHwWisC42dWnxM4q=
AAAA>=20
a special division of his company called TBD is developing. Web5 would use=
=20
Bitcoin=E2=80=99s blockchain to give people full control over their online =
identity and=20
data =E2=80=94 and eliminate the need for different accounts for separate a=
pps. While=20
some wondered why Dorseyskipped web4=20
<https://decrypt.co/102605/jack-dorsey-tbd-web5-bitcoin>, crypto enthusiast=
=20
Snoop Doggtweeted=20
<https://twitter.com/SnoopDogg/status/1535386263041155106?cxt=3DHHwWxICpmfz=
q5M4qAAAA>
, =E2=80=9CWorking on Web6 =E2=80=A6 U can smell it.=E2=80=9D
Learn about web3=20
<https://www.coinbase.com/learn/market-updates/around-the-block-issue-22#th=
e-web3-stack?src=3Dnumberstoknow_cta>



 TUNE IN=20

What is a Bitcoin spot ETF and when will the first one get approved?

Last October, the SEC approved the first-ever Bitcoin futures ETF=20
<https://www.coinbase.com/learn/crypto-basics/what-is-a-bitcoin-futures-etf=
>,=20
which enabled investors to gain indirect BTC exposure through apopular=20
investment vehicle=20
<https://www.coinbase.com/learn/crypto-basics/what-is-an-etf#:~:text=3DExch=
ange%2Dtraded%20funds%20%E2%80%94%20better%20known,via%20a%20traditional%20=
brokerage%20account.>
. But Proshare=E2=80=99s =E2=80=9CBitcoin Strategy ETF=E2=80=9D doesn=E2=80=
=99t hold BTC directly =E2=80=94 it holds=20
something called BTC futures contracts. So, when might the SEC approve a =
=E2=80=9CBTC=20
spot ETF=E2=80=9D that holds the cryptocurrency directly?

In the latest episode of Around the Block=20
<https://www.coinbase.com/around-the-block>, host Justin Mart dives into th=
is=20
question and more with Michael Sonnenshein, the CEO of Grayscale, the world=
=E2=80=99s=20
largest digital asset manager and the firm behind theGrayscale Bitcoin Trus=
t=20
<https://grayscale.com/products/grayscale-bitcoin-trust/>.
Listen to Around the Block=20
<https://open.spotify.com/show/4QsMNyNEUDu62E3L1PSlWB?src=3Dtunein_cta> =20
<https://www.coinbase.com/earn?src=3Dearn_bytes>=20

 TOKEN TRIVIA=20

What is quantitative tightening?

A One of the main monetary policies fueling inflation=20
B A way to inject more capital into the economy=20
C How the Federal Reserve is reducing its balance sheet=20
D When a market falls more than 20%=20
Find the answer at the end of the email.
Read up on the economy =20
<https://www.coinbase.com/bytes/archive/why-global-markets-are-declining-in=
flation-federal-reserve?src=3Dtokentrivia_cta>



 NOW TRADING ON COINBASE=20

DAR=20
DAR is an Ethereum token that powers Mines of Dalarnia, a play-to-earn game=
=20
with mechanics including mining, multiplayer combat, and collecting resourc=
es.
 <https://www.coinbase.com/price/mines-of-dalarnia?bytes_new=3Dmines-of-dal=
arnia>
POND=20
POND is an Ethereum token that powers Marlin, a protocol aimed at scaling=
=20
peer-to-peer networks by improving communication between nodes.
 <https://www.coinbase.com/price/marlin?bytes_new=3Dmarlin>=20
ATA=20
ATA is an Ethereum token that powers Automata, a suite of privacy solutions=
=20
for decentralized applications.
 <https://www.coinbase.com/price/automata-network?bytes_new=3Dautomata-netw=
ork>=20
FIS=20
FIS is an Ethereum token that powers StaFi, a cross-chain protocol for trad=
ing=20
staked assets as derivatives (also called =E2=80=9Cliquid staking=E2=80=9D)=
.
 <https://www.coinbase.com/price/stafi?bytes_new=3Dstafi>=20


Trivia answer

C How the Federal Reserve is reducing its balance sheet=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
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n;display:none;opacity:0;height:0;width:0;font-size:0;">Bitcoin dropped to =
a key level for the first time this weekend. We=E2=80=99re taking a closer =
look.</span><img src=3D"https://links.coinbase.com/e/eo?_t=3D3aca5637196741=
8192255878e9689713&amp;_m=3D261529ea9e1f45cbb07368bfd4e8011f&amp;_e=3DwTaZM=
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padding: 0px 10px 10px;"> <div style=3D"text-align: right; margin-bottom: 2=
4px;"><a href=3D"https://links.coinbase.com/e/evib?_t=3D3aca563719674181922=
55878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3DwTaZMfKYT_MR1_J7nh=
gj26t16mxtwr9jCXGXP9q90rHuZu-TWZ3NOF0yEtqhY8yXbYTA8UYoYmjODJQpCtPEx5GkqdyRO=
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decoration: none; line-height: 1.5; font-size: 12px;">View in browser</a></=
div> <div style=3D"margin-bottom: 20px;"> <table style=3D"width: 100%;"> <t=
body> <tr> <td style=3D"text-align: left; vertical-align: middle;"><a href=
=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e968971=
3&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtFodG7kTh_=
q2HvgGz_eRR6dq5ZxkAGXq32rKrgm4m5r_WUaqZtTuFgftdhz3z7Z82eFYphyw4sTCwCi1GrYou=
iQsW9A6aDQymRldgo7PmoKThClgyYL3be5a8s2-urq8WGRBJuRmENmZPcpMPYu-WGPGIlQuIfBa=
LJpZDBKcorgZ0JUbcXqlsSHRzpaIjtyPsCdddBxlL7UPXa3g8bl_5W1ukZfgHhhFYlXSqhL9Lqw=
Cn5Ratfc7lB8LPJm7Obd82eN6ktc-hErUgnFDJ3cF80JA79WTBSkFrhR-dgEJNX4aF7V9YaldXX=
IbH9TBta_qIWtykjHmiDmER-1iPD-VWZhI3jOPs0VM77xOcybUP9-s" title=3D"Coinbase B=
ytes" target=3D"_blank" rel=3D"noopener noreferrer"><img src=3D"https://d15=
k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e=
-c542cff6dd6a/3aca56371967418192255878e9689713/cbytes-4x.png" height=3D"36"=
 style=3D"display: block; height: 36px;"></a></td> <td style=3D"text-align:=
 right;"><p style=3D"font-size: 20px; color: rgb(10, 11, 1); margin: 10px 0=
px 0px;"> 23-Jun-2022 </p></td> </tr> </tbody> </table> </div> <a href=3D"h=
ttps://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=
=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtFYthDLxpRUmNp=
8L_WJx-mdGc51FnNnhQ6wAGEUmE2Nr9AhWHTIO6cf03nx_yUfIJiwqsc363v3tM6tRIKvIrWOp9=
XfDbqjriXdIH9WpQygGA_rKfN4mexlcF8hxzvUbUa0VaEWD4DDeKvWdiMAc2j1N8pCYPFVooTa0=
dUNHgITm6OHm6TwdNj_IWsjce9EDBfKpNDS9Mbbz069m4DKkk4giK7NqwzlhPcKV9aHdlxfg_Gs=
jBQx6iJIff31WEIgwXQ4JXUrZawzjx2iFfBVxcM7F7lJDxv9hCLgEQCxNDtDkj4FOJkHu1T1893=
WCrzXGSrxMcO21_86tBedI1Nlz-dzxIyZNFkDYgTxnd-h3-fyX" target=3D"_blank" rel=
=3D"noopener noreferrer"><img src=3D"https://images.ctfassets.net/q5ulk4bp6=
5r7/3dF01yW6gvemKLUmJq77Z/7d80194b0f2455fdfd80ddfb36a325f9/crbellete_via_Ge=
tty_Images.jpg" width=3D"100%" style=3D"display: block; width: 100%;"></a> =
<p style=3D"margin: 16px 0px 0px; line-height: 1.5; word-break: break-word;=
 font-size: 12px; color: rgb(91, 97, 110);">As the U.S. Federal Reserve nav=
igates stormy economic conditions, crypto markets continue to set new lows =
for 2022. [crbellete via Getty Images]</p> <p style=3D"margin: 48px 0px 16p=
x; font-size: 32px; line-height: 1.26; word-break: break-word;"><strong>Wha=
t=E2=80=99s up? It=E2=80=99s Coinbase Bytes </strong></p> There=E2=80=99s n=
ever a dull moment on the blockchain. Here=E2=80=99s what you need to know =
this week: <!--[if mso]><ul style=3D"line-height:1.6;mso-line-height-alt:26=
px;"><![endif]--><!--[if !mso]><!-- --><ul style=3D"margin: 10px 0px; paddi=
ng-left: 24px; line-height: 1.6;"><!--<![endif]--> <li style=3D"margin: 0px=
; padding: 6px 0px;"><strong>Crypto markets crashed to 2022 lows. </strong>=
Bitcoin sank below a key psychological price level, but there may still be =
some silver linings.</li> <li style=3D"margin: 0px; padding: 6px 0px;"><str=
ong>Key cryptoverse quotes. </strong>Compelling takes from Mike Novogratz, =
Michael Saylor, Gene Simmons, and more.&nbsp;</li> <li style=3D"margin: 0px=
; padding: 6px 0px;"><strong>Noteworthy numbers. </strong>A Solana-based NF=
T marketplace achieves =E2=80=9Cunicorn=E2=80=9D status and other key figur=
es to know this week.</li> </ul> <p style=3D"margin: 0px; padding: 0px;"></=
p> <!--[if !mso]><!--> <div class=3D"desktop_hide" style=3D"mso-hide:all;di=
splay:none;max-height:0;overflow:hidden;"> <table style=3D"width:100%;table=
-layout:fixed;margin:0;"> <tbody> <tr> <td style=3D"padding-top:40px;"> <a =
href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e96=
89713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtF2r76=
SI8NeGGbDDAJuCnerClK1K_YYppwqhlSt58om4jVQgMXhONfq-PaJguLnptUrgfDH5AnpiO-iHK=
k4LCvZTG6nFZ51BvIr3N-7P46emsUyBESiofAoj1ERfgdi0Z_X4VrZ5-J4NZOi_4To3jqCWdDZG=
mMzRYS1IeQ_0ybnrzlKzMj8njExwrr9RWwd-uYgaPr05NaRaQE-NXTyHr0FcijHI__WEhLy_4qW=
bbFasOXE5SIeiwsHGuBc2zsFaCq8sNj27loa3_muun3zQa5mpBvn3g00eoHbFc_tIB89NKj6h4I=
FrzSXQYngTBikcQHc-Q9mVgQ3onn3ckmvEFDesiEBM0ucKhs6bkkFC8dqHavoQygWXCMiLrPd5X=
zoYIYphG7m6BSzGHEQit3XyYIw%3D" 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/down-arrow.png" style=3D"height:12px;width:12px;margin:2px 0px 0px 0=
px;vertical-align:top;" height=3D"12" width=3D"12"/> </td> <td style=3D"pad=
ding:0;vertical-align:top;"> <div style=3D"text-align:left;margin:0px 0px 0=
px 10px;line-height:1;"> <p style=3D"margin:0;"><strong>Bitcoin</strong></p=
> <p style=3D"margin:8px 0px;"> =C2=A316,797.77 </p> <p style=3D"margin:0;f=
ont-size:12px;"> -6.52% </p> </div> </td> </tr> </tbody> </table> </a> </td=
> <td style=3D"padding-top:40px;"> <a href=3D"https://links.coinbase.com/u/=
click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4=
e8011f&_e=3D3N71gRGpjQW0klZluxNXtF2r76SI8NeGGbDDAJuCneo219EfDPd2xiLoF8C_t78=
Ye9ba7HUBwThq26pgH0soYMJLIZl-HDIk2rbv8BTg5BrSmnq0Htn7w29A1dQdxwyLRz_CCBLNtB=
G0PSVXYRSoj-mdTsNea5Oy46DSyCnwi7IKpm2EMAMVUj5ky4TBWqdDaWSKlIzj-hF2_2hamykwc=
6eOvuxwZrRm3lwYquuJ4N25O5qQts9TrWTse30djZLdyH9TsM0T1xynhi2WHHQGaQEYqrmgqrf7=
suSMMz0vl1r8eumVGCuAM9s9LI9boNd2AIS63-v_pydOhkqyRuXWMofgD9g8GHMOyZoEze9xe_0=
Ylb86C6LZYWBvHdUfHl_BdAaJAgFI9MxbiCCf4Xipm-JXIMwrxJ45T3ovps1OcvQ%3D" target=
=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbody> =
<tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D"https://d15k2=
d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c=
542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" style=3D"heigh=
t: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 sty=
le=3D"text-align:left;margin:0px 0px 0px 10px;line-height:1;"> <p style=3D"=
margin:0;"><strong>Ethereum</strong></p> <p style=3D"margin:8px 0px;"> =C2=
=A3896.15 </p> <p style=3D"margin:0;font-size:12px;"> -6.85% </p> </div> </=
td> </tr> </tbody> </table> </a> </td> </tr> <tr> <td style=3D"padding-top:=
20px;"> <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563719674181=
92255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZ=
luxNXtF2r76SI8NeGGbDDAJuCnequAArymxS08S3DLCx1HU6i7UEixMTxi1DOHNFVkYpbHBty2z=
b9bArdwaMcMQMzrXDv61Rp_5KZzZEn5YW5-udUEEdo-WI91-2LZmJzDTldvsCiznJAmiXL5Kce2=
_UgzCWK7wycTmWSJx_UOW4hNIf0TvBMEDeH2y0f-h6qG9IhpcRPp3CU2YBhxfzAHH0QuFFdE2EF=
YFKyeOKKZmAzanu8_jVrWnEWraAlIWJIe_Ht_JpJ1CMr8MWzERA2UaNMDjnIyE8HvYTvmNnj5h2=
yLUbWdzdsigm2RCyxQKoEyKuzKqHf0T5MOGScuw2ux7wOpYNaE5q0f584Or6ZM7Ky-DsImm2dwn=
iCVMMmMVUM6jWl4_g5BktmeQ7gQczy6WVDdJ4%3D" target=3D"_blank" style=3D"text-d=
ecoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0=
;vertical-align:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/pu=
blic/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418=
192255878e9689713/down-arrow.png" style=3D"height:12px;width:12px;margin:2p=
x 0px 0px 0px;vertical-align:top;" height=3D"12" width=3D"12"/> </td> <td s=
tyle=3D"padding:0;vertical-align:top;"> <div style=3D"text-align:left;margi=
n:0px 0px 0px 10px;line-height:1;"> <p style=3D"margin:0;"><strong>Cardano<=
/strong></p> <p style=3D"margin:8px 0px;"> =C2=A30.39 </p> <p style=3D"marg=
in:0;font-size:12px;"> -7.96% </p> </div> </td> </tr> </tbody> </table> </a=
> </td> <td style=3D"padding-top:20px;"> <a href=3D"https://links.coinbase.=
com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb073=
68bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtF2r76SI8NeGGbDDAJuCnep3EyHEb53Bo-9gW=
kOdLijeEaKn-4YhJ1ov77oTBWjzJQASwZC3rc8iGhSgMQpZQ4XXbh3-3iv8k_MYfsrLpuGJ5u7C=
ItVfSway1wgWirVqJWAIJWMUG-T7HJ2AClYaFjKpy0e2Sn_Ye0lj-etvTMAKfwpalKwYE2pEyxH=
z6VefY8U43N7qUJDzeiWCNGe_x2YeajwZPPjbqqQecLTyZzplju2KV-uG9_SQH8JYmTGTvt3FaC=
s7hfa0s8Dwz304YdZyYzTjeDXcstqMlyUVVSRm2HxO0E-AXBn36Ng6xMRHIKGDB5_AtsoMydeXV=
gWZzu6xRcAPG6cjO8IGMHbNntFsPT5yfekiWhOtfoO0qCRTTcpgdHCx_hEKKSqDvmHF1uc%3D" =
target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <table> <t=
body> <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"h=
eight: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>Solana</strong></p> <p style=3D"margin:8px 0px;"> =
=C2=A329.48 </p> <p style=3D"margin:0;font-size:12px;"> +8.86% </p> </div> =
</td> </tr> </tbody> </table> </a> </td> </tr> <tr> <td style=3D"padding-to=
p:20px;"> <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637196741=
8192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0k=
lZluxNXtF2r76SI8NeGGbDDAJuCner4in-LNIlSb2ho8wdqbRJDGaojW2nGoP12-RckgFdrLLcv=
FZQfDIecUDR4RjjfQGkvAaowannOjaNyjTSFcjb5_TmyhTR4EvbyKcJyOza1D-oKnm1aCavhahT=
NYtrZdQSJnIy6iFNMScLXYV5TiWRc-JCe3OeuTAMV7DGHgpP8P7oD6tZVg9XoJ2DKQQgsWRRQQx=
e_NLbB2kPu4K2LdSVvcIQAJuzI1VHTNDweBLpynUBskQsLb1OKeOpIgHjbNy0BFKKu_FmTpJNtN=
5ZcmHmiybj6EipHU2oSmAUEFqlPHBezrD_N9A06etC9z8sadsKRDNmv2X0VXI9szyBFTLHKBRU6=
j61GZJjPBPAmlifD-g-WuWXKzhsja04CqjbccQc%3D" target=3D"_blank" style=3D"text=
-decoration:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding=
:0;vertical-align:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/=
public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca563719674=
18192255878e9689713/up-arrow.png" style=3D"height:12px;width:12px;margin:2p=
x 0px 0px 0px;vertical-align:top;" height=3D"12" width=3D"12"/> </td> <td s=
tyle=3D"padding:0;vertical-align:top;"> <div style=3D"text-align:left;margi=
n:0px 0px 0px 10px;line-height:1;"> <p style=3D"margin:0;"><strong>Dogecoin=
</strong></p> <p style=3D"margin:8px 0px;"> =C2=A30.05 </p> <p style=3D"mar=
gin:0;font-size:12px;"> +10.25% </p> </div> </td> </tr> </tbody> </table> <=
/a> </td> <td style=3D"padding-top:20px;"> <a href=3D"https://links.coinbas=
e.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb0=
7368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtF2r76SI8NeGGbDDAJuCnerS0vihYsVRXq8=
Mv29Ji2jhfscto_lYF9OIKqz3Yd-OJ7RCIfmbpv3Dpnf3CZunA9Xs0meot-AJH8oUWpL9YQ7E3k=
_9tJoNmms50LPB7cDVQAgSHWAt78YonwqvmMC6Kv35cfvWLsse3TRk1WIuwUtJqCwYzTiJudC6j=
ACJLrzI7Npo4d9r0fM2SCJzbRTsx72lBhh9fajqKV1PIwvzo8PVdxcT5lv32xVChomi-9i7KzUv=
YdhgBFAAYhLIjazjPKOXjT4IERGaUTs4MERQPnC1qNAD7-GyqrJqSmKIUbUhrptIIVXgI3NvuYj=
k--RsyPVgF724QsPW0P8kAE_k_h7Yw69dAEpifkZUcM6LpulfjKmv-ZOl3fKtCXjElP3Wf70%3D=
" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <table> =
<tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D"https=
://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46b=
b-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-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>Polkadot</strong></p> <p style=3D"margin:8px 0p=
x;"> =C2=A36.25 </p> <p style=3D"margin:0;font-size:12px;"> -3.40% </p> </d=
iv> </td> </tr> </tbody> </table> </a> </td> </tr> </tbody> </table> </div>=
 <!--<![endif]--> <div class=3D"mobile_hide"> <table style=3D"width:100%;ta=
ble-layout:fixed;margin:0;"> <tbody> <tr> <td style=3D"padding-top:40px;"> =
<a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878=
e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtF2=
r76SI8NeGGbDDAJuCnerClK1K_YYppwqhlSt58om4jVQgMXhONfq-PaJguLnptUrgfDH5AnpiO-=
iHKk4LCvZTG6nFZ51BvIr3N-7P46emsUyBESiofAoj1ERfgdi0Z_X4VrZ5-J4NZOi_4To3jqBzA=
13xAjyKm-NmhTidM7VMdSWXPJFeaN2eWU7k2uYLexypTb8USg7k372WagY6GDTViDQSzN4ww0hJ=
SNt9JAOR-TWu8axJm4oDko2TrCPZGi1E-WQqE8Mq3C7A5QgISHN_4gMH2206A5XtqoNIMDhHLJB=
Y0YBgETvZGtRYDD722d4tzhnL2J7axbiSwY649dmTzRppvlQ1S9IRahbBQLxvTNBOpy9F3qQOUd=
NAmycrW0P_9uhHTAZFNp1nx9Fpqrg%3D" target=3D"_blank" style=3D"text-decoratio=
n:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;vertica=
l-align:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/use=
rs/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5637196741819225587=
8e9689713/down-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=A316,797.77 </p> <p style=3D"margin:=
0;font-size:12px;"> -6.52% </p> </div> </td> </tr> </tbody> </table> </a> <=
/td> <td style=3D"padding-top:40px;"> <a href=3D"https://links.coinbase.com=
/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368b=
fd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtF2r76SI8NeGGbDDAJuCneo219EfDPd2xiLoF8C_=
t78Ye9ba7HUBwThq26pgH0soYMJLIZl-HDIk2rbv8BTg5BrSmnq0Htn7w29A1dQdxwyLRz_CCBL=
NtBG0PSVXYRSoj-mdTsNea5Oy46DSyCnwi7IKpm2EMAMVUj5ky4TBWqdDGSbRpojSgewACKcELH=
nsIkNR-7ddg2d2-RjHSv_pktvjE4eKIcbjV-zyQMAMWgptl-gNckkpGW_iQbh3wxNqwq3pooZtd=
vA2WBu_rpJ77aAQL4xVqchREV3aaR8z6eKZjZOJsSWYz9WIEtwx-5BPB5_v7D4FjUf2eLYmB30b=
1WFmy1Yc_JkbhKX_L1oW84JKkXuJbOQOWLOj_thuYijiXwBlKTAXsh9XZnnn86AAn7o%3D" tar=
get=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbod=
y> <tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D"https://d1=
5k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7=
e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" style=3D"he=
ight:12px;width:12px;margin:2px 0px 0px 0px;vertical-align:top;" height=3D"=
12" width=3D"12"/> </td> <td style=3D"padding:0;vertical-align:top;"> <div =
style=3D"text-align:left;margin:0px 0px 0px 10px;line-height:1;"> <p style=
=3D"margin:0;"><strong>Ethereum</strong></p> <p style=3D"margin:8px 0px;"> =
=C2=A3896.15 </p> <p style=3D"margin:0;font-size:12px;"> -6.85% </p> </div>=
 </td> </tr> </tbody> </table> </a> </td> <td style=3D"padding-top:40px;"> =
<a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878=
e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtF2=
r76SI8NeGGbDDAJuCnequAArymxS08S3DLCx1HU6i7UEixMTxi1DOHNFVkYpbHBty2zb9bArdwa=
McMQMzrXDv61Rp_5KZzZEn5YW5-udUEEdo-WI91-2LZmJzDTldvsCiznJAmiXL5Kce2_UgzCXyz=
R8KAph-2XcP0tjoN-_MKo6dSlrMd8SZhYInZMyGOKse4aR7t9moVKvSRCswBC14n_Yaxgn3GmnF=
auCCmyQZ6d2nfME7oF7KAKshu8ww_kiPhvmN4e91BFihO4UBtA2UgJr_Ui2kZJZjHs-4BTafPFj=
qjxXOuqw4swKAmYzNqi4e9hr1wbuAfuIpKzPod2FbXuNJhdiGvQ0UGjjtdxQKWp0WJGgHsMdfP6=
Ao4DKfDKUDdJOQbGQfZXZyDb8ulbE%3D" target=3D"_blank" style=3D"text-decoratio=
n:none;color:#0A0B0D;"> <table> <tbody> <tr> <td style=3D"padding:0;vertica=
l-align:top;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/use=
rs/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5637196741819225587=
8e9689713/down-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>Cardano</strong>=
</p> <p style=3D"margin:8px 0px;"> =C2=A30.39 </p> <p style=3D"margin:0;fon=
t-size:12px;"> -7.96% </p> </div> </td> </tr> </tbody> </table> </a> </td> =
</tr> <tr> <td style=3D"padding-top:20px;"> <a href=3D"https://links.coinba=
se.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb=
07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtF2r76SI8NeGGbDDAJuCnep3EyHEb53Bo-=
9gWkOdLijeEaKn-4YhJ1ov77oTBWjzJQASwZC3rc8iGhSgMQpZQ4XXbh3-3iv8k_MYfsrLpuGJ5=
u7CItVfSway1wgWirVqJWAIJWMUG-T7HJ2AClYaFjJQdVV-AJZ-hjtKeWTd-dUuw-Cu0y6XEUqB=
7Nv3B3mvbrYKjPTv0SIju3-d2SACssVWQXvo4Tvy9yWQCdIhQqrxDkMByX7O8O-s4FdLodvfMwC=
MayqvD2x8KQvkbM7FWJSBdXbnVIze5DW3o825HLAMndq9jTXOj7pwDDW0zm9RPHiPe1nyugZoZR=
SQLe3R2QvlzTEgMMym7c7Uq27Eoiz_WMaZQx3IigoqDPvIpMMT3grcuGHYZKBo1ndL8CIncAw%3=
D" target=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <table>=
 <tbody> <tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D"http=
s://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46=
bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" style=
=3D"height:12px;width:12px;margin:2px 0px 0px 0px;vertical-align:top;" heig=
ht=3D"12" width=3D"12"/> </td> <td style=3D"padding:0;vertical-align:top;">=
 <div style=3D"text-align:left;margin:0px 0px 0px 10px;line-height:1;"> <p =
style=3D"margin:0;"><strong>Solana</strong></p> <p style=3D"margin:8px 0px;=
"> =C2=A329.48 </p> <p style=3D"margin:0;font-size:12px;"> +8.86% </p> </di=
v> </td> </tr> </tbody> </table> </a> </td> <td style=3D"padding-top:20px;"=
> <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563719674181922558=
78e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXt=
F2r76SI8NeGGbDDAJuCner4in-LNIlSb2ho8wdqbRJDGaojW2nGoP12-RckgFdrLLcvFZQfDIec=
UDR4RjjfQGkvAaowannOjaNyjTSFcjb5_TmyhTR4EvbyKcJyOza1D-oKnm1aCavhahTNYtrZdQS=
JnIy6iFNMScLXYV5TiWRcSx7MMkeZq8x0HusnzzR5lvUV2pBodzDMJ29PAdgOyOaSelhYTShdnv=
tswmdi1oJkeSGpOy7OFlfkvu-IQeXWIpEEa-M0FmelFaU7Tcuiaqn_I50H8T4wVoosT6xvSfVwf=
b5EOyIuuVnyTW7ut-Pm0-YjCGvL3I6GDBY8l0fqbCwjA42LE8r-TZOcQnQ2snve7bn2zawnY8LM=
CF8A0x4H0joGdh3BSybsyUZMzaN64Ac%3D" 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>Dogecoin</strong=
></p> <p style=3D"margin:8px 0px;"> =C2=A30.05 </p> <p style=3D"margin:0;fo=
nt-size:12px;"> +10.25% </p> </div> </td> </tr> </tbody> </table> </a> </td=
> <td style=3D"padding-top:20px;"> <a href=3D"https://links.coinbase.com/u/=
click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4=
e8011f&_e=3D3N71gRGpjQW0klZluxNXtF2r76SI8NeGGbDDAJuCnerS0vihYsVRXq8Mv29Ji2j=
hfscto_lYF9OIKqz3Yd-OJ7RCIfmbpv3Dpnf3CZunA9Xs0meot-AJH8oUWpL9YQ7E3k_9tJoNmm=
s50LPB7cDVQAgSHWAt78YonwqvmMC6Kv35cfvWLsse3TRk1WIuwUtJ7nFtddZYXAI_1HRaal4ig=
RMg9BO1-uNurn3KjXrCdqy0A3DI2KmyjlEEzT8B6DAlb1m9XoW2qOj3ALpv_dRuSLKk3xzduyjo=
5Za32N97RA1EE75WIxusHp_sp6mO0cvanEHFfURQ6B9mjNKDN88pByIhIxO9owGzKLjGeShvdsL=
jJoBIWNYkpVGz4rdtqX0muIEa-PSkX4HTb1-rT_I5NIJv7FFMAGKunfY4Y483xMs%3D" target=
=3D"_blank" style=3D"text-decoration:none;color:#0A0B0D;"> <table> <tbody> =
<tr> <td style=3D"padding:0;vertical-align:top;"> <img src=3D"https://d15k2=
d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c=
542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" style=3D"heigh=
t: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 sty=
le=3D"text-align:left;margin:0px 0px 0px 10px;line-height:1;"> <p style=3D"=
margin:0;"><strong>Polkadot</strong></p> <p style=3D"margin:8px 0px;"> =C2=
=A36.25 </p> <p style=3D"margin:0;font-size:12px;"> -3.40% </p> </div> </td=
> </tr> </tbody> </table> </a> </td> </tr> </tbody> </table> </div> <p styl=
e=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, e=
nding on Jun 23, 2022 at 07:59 AM UTC</p> <div class=3D"cta_button" style=
=3D"margin: 24px 0px 0px; padding: 0px; width: 50%;"><!--[if mso]><table wi=
dth=3D"100%" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"bord=
er-spacing:0;border-collapse:collapse;mso-table-lspace:0pt;mso-table-rspace=
:0pt;"><tr><td style=3D"padding:0;" align=3D"left"> <v:roundrect xmlns:v=3D=
"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:office=
:word" href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637196741819225=
5878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxN=
XtF2r76SI8NeGGbDDAJuCnepUHMs6LCY8bcKlQNwsX2ECr7hqdOxmDRoN5hrgoYlut62WwCqnyZ=
jMfvUKdQBRpFZWtoox4U6iF1_QnUQHhoKbXtSMAxHZzX3C6o7hpAOMgczl76r7pHoQR2I1evWlA=
qmNpe7ceeVUSOn8BqxgUiGYK9ZCPZzk89ed1-AAvEUSfsfMc_GO-BtzIm1k_xcjug8U-xKbpBE7=
zSXtuO3o2SE-HE5bytrdZWIFqFnCEq3-eFwYvx_MfFa-R1KOpr7ebcBdZFgCxXpTw7Gl-dIIet5=
nR81KkWZDOf1_QDEHN95JhzpAD4ADIWmAp6pKfNA1mNXyXCakaymwkg8oHYU3MQ0v" style=3D=
"width:350pt;v-text-anchor:middle;" arcsize=3D"17%" stroke=3D"false" fillco=
lor=3D"#0052ff"> <w:anchorlock/><v:textbox inset=3D"0,0,0,0"><center style=
=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-serif;"><![endif]--=
><a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637196741819225587=
8e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtF=
2r76SI8NeGGbDDAJuCnepUHMs6LCY8bcKlQNwsX2ECr7hqdOxmDRoN5hrgoYlut62WwCqnyZjMf=
vUKdQBRpFZWtoox4U6iF1_QnUQHhoKbXtSMAxHZzX3C6o7hpAOMga4LEGMOvLvJFWhYdfrNjUcL=
LpFfHVDvKy8rHUmH_sY6QDUnCVfsYx3PWOGX_bqyGfudfmMFHPnXEEWXrSqpEEQhsdC9YKXdjsZ=
lZ7zzJ5SulvcPSXYFYdBDA7lkVJ22ksPZz1M9MmdVI4pnHpBN8RQ9Hd58TRfJBb0ylNwYlfYMVi=
jHT4rOurSiRr5qIPMSm51mgadOdnhbA_qfiiEQp0tomP5QO886jFc7pnfsOPke" target=3D"_=
blank" rel=3D"noopener noreferrer" style=3D"display: block; margin: 0px; li=
ne-height: 1.2; font-size: 16px; text-decoration: none; color: rgb(255, 255=
, 255); background-color: rgb(0, 82, 255); border-radius: 30px; text-align:=
 center; padding: 18px 0px;"><strong>See the latest prices</strong></a><!--=
[if mso]></center></v:textbox></v:roundrect></td></tr></table><![endif]--><=
/div> <table width=3D"100%" role=3D"presentation" valign=3D"top" style=3D"t=
able-layout: fixed; vertical-align: top; border-spacing: 0px; border-collap=
se: collapse; min-width: 100%; text-size-adjust: 100%;"> <tbody> <tr style=
=3D"vertical-align: top;"> <td valign=3D"top" style=3D"word-break: break-wo=
rd; vertical-align: top; min-width: 100%; text-size-adjust: 100%; padding: =
48px 0px;"><table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" width=3D=
"100%" align=3D"center" role=3D"presentation" valign=3D"top" style=3D"table=
-layout: fixed; vertical-align: top; border-spacing: 0px; border-collapse: =
collapse; border-top: 2px solid rgb(222, 224, 226); width: 100%;"> <tbody> =
<tr style=3D"vertical-align: top;"> <td valign=3D"top" style=3D"word-break:=
 break-word; vertical-align: top; text-size-adjust: 100%;"><span></span></t=
d> </tr> </tbody> </table></td> </tr> </tbody> </table> <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> MARKET UPDATE </stro=
ng></p></td> </tr> </tbody> </table> <p style=3D"margin: 5px 0px 0px; font-=
size: 32px; line-height: 1.26; word-break: break-word;"><strong>As global r=
ecession fears loom, Bitcoin drops below key price level. Are there any sil=
ver linings?</strong></p> </div> <p style=3D"margin: 16px 0px 0px; line-hei=
ght: 1.6; word-break: break-word;">No sugarcoating it this week: It=E2=80=
=99s <i>ugly</i> out there. The S&amp;P 500 is firmly in bear market territ=
ory, having notched its <a href=3D"https://links.coinbase.com/u/click?_t=3D=
3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=
=3D3N71gRGpjQW0klZluxNXtHRivPwG4BC2ToXM1WkCnqZPAd3Wa_48t3kYG-67qN2Wi44qOQ8m=
-NWs0l-oJbaLmZltsPu4ook4k_qr0WJVDmbmOwgY-enAtwJ6a_7tJib1ETLvsCDeLmHGCz-eocL=
EOITjYI19AeV88McSXR7Hq7mZD3PjhBi6HYN8ad5sf3h2gCPU7VX2hh5FRDGVFfFNe1143JFOWV=
-Z_rRDl-8GBCqiF7YgiHt8iVExEtEmh07Y4gPghM2lrTlFSTWGtGycd78oXcstxuGc0lymFWm4t=
rTV_xLYywm8o1u8z-poajh1gamf7QrVwG_tD48CoRWvwqmeKFJ6ezQPSufO5WaQDqIXgBwkeXNi=
H-SL7bjP0fRD5Sdsi_cc45dI8JjyztqzDMqb1vi-Kd_LEXIIroDA9LFbH6uwBBb_yBPazJU3qzF=
CPbYOcfC32J2InauRTEAWQw%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer=
">worst week</a> since March 2020; Bitcoin sank as low as $17,567 on Saturd=
ay (before retaking $20,000 to start the week); crypto=E2=80=99s global mar=
ket cap has retreated under $1 trillion for the first time since January 20=
21; and crypto firms like Celsius and Three Arrows Capital are facing liqui=
dity issues.&nbsp;</p> <p style=3D"margin: 16px 0px 0px; line-height: 1.6; =
word-break: break-word;">All of this is further exacerbated by the U.S. Fed=
eral Reserve=E2=80=99s increasingly drastic moves to combat the country=E2=
=80=99s highest inflation spike in 41 years =E2=80=94 moves that could <a h=
ref=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e968=
9713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtCBAuh2=
gViEcMUUlc0y3USQM5UngUFAJr2U9ACkLWWqhB-tSONavM3BunBqna6MI6R3rOiKtqXWEXhM9IT=
6NkS5BaiCU3ug6ErBbpqTUze3TPw54u0l78zHVBvcJ-nRe4I3mhQAliBbQSIZk1LZNs_6OHqaow=
lcbT-5VrRnfqLRj9rVBmyLn4bSPest7nFvprDBnqxJouX0wXAfpjNwgybyw5LWPLvly7aXl3aOU=
ntu6ToiBjHBl2hHE6gtN6zbfYlh0-fQzPJnWKmbw_BDH3YYECXmRXDl0Lx8c0diMwMgZdrX9TOn=
qPwxBZenJCGUtdXsDrMQNguu-v6aEkCwh-1B0r8aZtxogfCYaeFKP0s1roxHWkBH-ip86dEo6Bv=
txcL_1nLMVQqtyBrXGxBfeTQrjvKoLamej9UL9vd7suTQXoqTDJ0dAL6u9U9NOSg-JgA8XI-P6B=
JtBBi71YJBayyU%3D" target=3D"_blank" rel=3D"noopener noreferrer">induce a r=
ecession</a>.&nbsp;</p> <p style=3D"margin: 16px 0px 0px; line-height: 1.6;=
 word-break: break-word;">Like we said, it=E2=80=99s ugly at the moment. Bu=
t it=E2=80=99s not <i>all</i> bad news this week. Let=E2=80=99s break it al=
l down.</p> <!--[if mso]><ul style=3D"line-height:1.6;mso-line-height-alt:2=
6px;"><![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;"><strong>Bitcoin crashed below its 2017 peak of $1=
9,783 =E2=80=94 the first time the cryptocurrency has ever sunk below a pre=
vious bull run's high-water mark.</strong> While this price reversal is unp=
recedented, it=E2=80=99s not as steep a decline as the 85% slide BTC saw in=
 the year after 2017=E2=80=99s peak (or the <a href=3D"https://links.coinba=
se.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb=
07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtIdxGysQscd7ZFExWdzo7CswWzaamW9m3C=
9NkPM1t8En69tmjgSLUtbzgS2DqI9-2PA6PT3HcN3RCBiCmLoDNRsq7zQ7Ichmqij7GCSuPS7LU=
HNwg1lvmteyaRQ0tzaXTeYIij1hIhIupY3I3cAVPfYf8EViBGyDe_1XmTXzdCDQ2oJl8-7o85Fs=
zK5VWKthNhpSH4t6-W8h-WoURVakCW4_sJR42uyfee6rFqdjrmJiQPA5GSQ55boEx23J2KfUpZL=
EpeDTZUDerEVi3SywgPiheJfn2GTR0HRz4vQpxG_hMwr9i3QdGOiTmlKZVFivcHfVer0AgNMC8L=
SRfkfJOayZeIGpfQfxQmzN923rHYEB7Hpy8Qpb-uXOAzL-y1nZGE1UkQxWXkXpw2r43oJv_7EMp=
nGj6hPJOEfIROkSdsiB" target=3D"_blank" rel=3D"noopener noreferrer">99%</a> =
nosedive BTC survived in 2011). Still, last weekend=E2=80=99s low placed <a=
 href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9=
689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtJp2B=
30gwyMJrsYJaZHv7j7x-AYTw3QWKEinmTeH5cII7i1wGHsP-qtu_Xaqt_CMX2Fy81iajOmLbBgy=
T24R_1oCx_yfsIVNNDiIWvTuS6xLh31_P_-T5IXDOmJazdpu5GY1aKFgReWv25Lhj1U7y24ZW2Z=
z-lavbCiTZVlvh0Ee4q7SS7Du_7oc3rvGaapovU2ACCNwQ0EN-4piuHnJuJsjW__ZQy5Hddkmqn=
wPk76x_B-nPbjcVJ5IqwJxz92cQH5QvtDmGcuWTqjcVj6nbib9QLIUN4Mq2dsGYKk4VwE9l5X1j=
TFza5pjTNfV3ajST8Uk7o4gLvnPlN2GNG47G1yyr6iDboXCwPyXQZ5sfNAWUftFtWMi1sgt5P9g=
I3r7uxdaWclmKDYb22bFfvmB54g%3D" target=3D"_blank" rel=3D"noopener noreferre=
r">more than 50%</a> of BTC holders in the red, according to Glassnode, and=
 left even veteran HODLers with sober outlooks about the emerging <a href=
=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e968971=
3&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtMbUaduPmW=
21r1PGg8O00ut3S9UbKb9GxiQFhF_5qkFA9F70rYd2xDUTmvU4xuRzbMNAoF2f-BypMKCh0Gz9f=
oiY91VLmuo0o96uVvqygBMJo2bONcro_p6VNwgpYCfFwiDh6vE7eRLsebOMeVdzLPvtFbRYmUG-=
F2ltgQn9S3SB7DCz848eLmbXOQMoDDAh3O6vJuYGobgb4yfKlevcArfCXgn7t-3BezxhXUQ3VHm=
r_tgL4IZo8f4ZFFuOjxDkcnqIM0tR3LZbsWz9M71zg6_t4qHC101EUuyHhOlWa7atvLxQMyvanM=
o6R2nJF7AAC6v12K9o4nkXLwf1xZa4_vAtFeG7yiZnVQ31OzAQecYMQTlWg3ySzgVFA7ERCZTlS=
jnWAsuDNoVKs9sk0wyvwY84Mx3l3tK1VejX5K9oUa7HOSEMpaja8q7wdHT37PEglMywTmmJXET4=
UKHITj0h7wOMnTaT6Vh__5k_y2m_LXfI3JZ26SfDro0jnSIu7w-4J-pZHJPXvXJFnvFBj9BpwVv=
SuEMUm28SEBeczdjq1QoH" target=3D"_blank" rel=3D"noopener noreferrer">crypto=
 winter</a>. As Kraken exec Dan Held <a href=3D"https://links.coinbase.com/=
u/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bf=
d4e8011f&_e=3D3N71gRGpjQW0klZluxNXtPf6IJ-uyRkbWqiHpMBWzjTjBC7hwUAxyMejHxKcg=
AUGl-KBKMMye4OVOa6LYazK7LbYG6vH00ZzWybkiufbYDZN19T1PT6PNYldympe0iX0RxBtcN15=
GlDeJ_ZcYGx7Yr2aHAyZ6qCaqb5TzU--tWlMhZ9bN1Ztw5Q4l02bYRvBS_orFXUrJllcS8-rbn5=
SdDOFbkZ8mC512VNDADE6FPNNT9K2Lo1PPWOEEt64AtcjSXiBkc5OnyZhLw-P6jS27WMHfXgCZn=
HSjT9ghchy7D91tDwJ9BYlMSVYNKYypQBfCD_lf81cb-VeWmf-YUvXJoEY4WvvgZ65QlikV3wFu=
IZKhGh4UF0-8RC55ouzdigYgD6Kmg5XCnW2TxfWQpB9XqaTJwt757fVhzCaZD2MNjvu_y0zL2_g=
EDaK2iXznR2mstlVFsyH0HwUtoBjtH6gVQ%3D%3D" target=3D"_blank" rel=3D"noopener=
 noreferrer">put it</a> this weekend: =E2=80=9CWe are on the path of maximu=
m pain.=E2=80=9D</li> <li style=3D"margin: 0px; padding: 6px 0px;"><strong>=
Inflation, and the Fed=E2=80=99s efforts to fight it, are putting pressure =
on both stock and crypto markets</strong>. After May=E2=80=99s historic <a =
href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e96=
89713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtDFqFJ=
rFDTXH9Gc-9IaeGVocsIXxTc9_MlYFLQVPy2jG-WAvKbtfDYfGx5JiXHoOCwBkHwaZYInHTdgbM=
JI7YVtSqEVEhQhk0hEb7JP8A381a2nbg_m2Ye9IdmxRh1hA7ClNArqC8-8hlsENk7esFrPs0Lsv=
Jo5eCIYXtL8jJgV0b32PEDDZAuWO8ZwYVB-_54-g64g21B-mGDwi-tyaWS-D3JxUcqUmbbpnS8q=
SwIPd32z3ZtvQZAPrL29jALHnzcfg9GD_bfvzihIMbsLXKFPIBw3yMfEzNvpBYYhkdhkQp01lsh=
cQlezguiyVXx9_-DhZZu8JfwyoeY99UE3QIHxB82J1lPrRuMPjHsRROiYsU7FETBXPB_w92YjKf=
Ow7dffF34bDawxOoS0Hr5YwI18RCh793xYERzCGQ15aeRMmuNL4eXEl6gUlxtJ6XOSOU5qRoaLH=
4_UoSqk4Y9OCSo5cIT5NCr_giue3_aKX-zc4JAbjQ74o98_8ZA7rkXbm0uDBhvLoictcZ3bzlZz=
o6_XaBU9FVF7h3UkdKec_KmeA" target=3D"_blank" rel=3D"noopener noreferrer">8.=
6%</a> year-over-year spike in consumer prices, the Federal Reserve respond=
ed with an =E2=80=9C<a href=3D"https://links.coinbase.com/u/click?_t=3D3aca=
56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N7=
1gRGpjQW0klZluxNXtGRmHxKuDSQ6B3xWl2Qj06U5SPrZbnkgl22IKWM8aeLXHpAYH5hsGQGgne=
I1NRkLEUwCbHDyV6JErjnQ7JkSNDoNO-Rbz3Cmwyrq0aZOJ8VPnUuNVqjcRwM3KvWoAOvtaJINR=
YN1xVCTRnFmpXVt-bSShUAaqWROgATC1kiwzjw7WS5tcO0cpsbXQMRQCv-VRML6E_RGqvZ-dyy8=
B1Aqe1yHsPbxBAAHZT-7CNj7x3w4dP3PHIivtD5uvbmIZAWtJddnJkF5ASxVuXID5GcBX-VZpWn=
uHyprJTn9tQycBkhOgkxHgXJ4xlIJw26be0ijTw46mSZXEOklUdXC3MwXzwhwIb7BqTeHsYhIwT=
njVRKiogp-TBgC8q0JIegGcK5khpjt35_MSQ70V5g6ZLqWA7Mttnut2WeIUvXxYmJ-9KSXzgBkS=
XJP0rf8QarP1VagvIb9wvgZaL-UKvUCPHmrfro%3D" target=3D"_blank" rel=3D"noopene=
r noreferrer">unusually large</a>=E2=80=9D 0.75% interest rate hike last We=
dnesday, stoking <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563=
71967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gR=
GpjQW0klZluxNXtLQ5ovtWGvnQHvfQ8McKhfyGKDZxyL_Zq7jxi2pC_TEbHu2hilesOf022LxwZ=
CPfe8ltxI3LZBrgUjjvg6D1ae_7z1asLVeyDaheqIFd2X1PKWD2lkvul3hVZrCV_EITQdm8osjc=
4V69oLmfrmOfPy7rTn-8JDS6JAm0rq7ajj4QSMM_UDF9zQOhH3MPkupZ_Wj1CqjBNLrNTOyjIx-=
qKn9FpUyMrJhouhGm7_u3wjqg8oF1onyaN5NJ5qW9x4JR7UkRHYd_7dTzTFXMT7k2kusnTnGUgs=
AqQMg_ceTzC_iwpnQTq9TDHkFXvjSldGm-dt9k-aaC56ZpRa8AFO86-tWdah1j6lMLsF1dxLxCK=
Ihz2Zy9YiLFO3WrR26kW8s0Fyt9KrFJrAcimEO0QxlpsgDAghKF7A5j7a76LrNDvQ415cb8o3qq=
6J338EpiosMHHGtkF8MRmk9n5fYYjEWnIKwma6OXLQx7pA8KQQmNdmYq_J8DwK8B84dqwqdOTxG=
0Iw%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">fears</a> that the=
 Fed=E2=80=99s efforts to combat inflation would tip the U.S. into a recess=
ion. This marked a faster-than-expected reversal of the pandemic-era rate c=
uts and stimulus that previously boosted riskier assets like tech stocks an=
d crypto with <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563719=
67418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpj=
QW0klZluxNXtKRbJxZioWD5F35jRyKPiNVcYtzX556YCnEfyW46betHfVczVZ2i2iSQKubpRrv_=
sLvkrwmbPhhCs1hDV6fcGNSOBF7o9CPBl85nGPOMiDw_ifvGrsDe0ALR1Ju3PmTmcauFojAsbpn=
jl7bOVKaCkERM-IP8gkOgXdCVlQdVTd3GPa1lLOTjSO68-JVhHLIglah9bYmkdBnsBHzEii0v3p=
rtGaq0qq_6-RenadiaomRe05z26DCSyeNFeT0vRPuvphfbMrTqjPns1FCmu4usmc_ivWde2NLLb=
j80qT6vjlvxHPkWP9I2_gqK7b6WYTQJawnsYbvzQyG5l4a-ucJq3y_hRUgYXFRXY9wpaA2Nycnc=
t-Aop1kEE72Ho3kA52fy0QQ-4mwp-2Ww15na3_r7z75qptDPKTVmM8Di_IsPKxJGvcH_Swfd5-u=
wPpOOpGQfqA%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">excess con=
sumer cash</a>. After the announcement, BTC and ETH dropped as much as 16% =
and 20%, respectively, before both rallying to start the week.</li> <li sty=
le=3D"margin: 0px; padding: 6px 0px;"><strong>The crypto downturn has also =
prompted liquidity issues for several digital asset firms, including Celsiu=
s, Three Arrows Capital, and Babel Finance.</strong><strong> </strong>Last =
week, crypto bank Celsius, which manages $11 billion in assets for 1.7 mill=
ions users, cited =E2=80=9Cextreme market conditions=E2=80=9D as the reason=
 it was <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563719674181=
92255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZ=
luxNXtHRivPwG4BC2ToXM1WkCnqbPigXoMRs2t3mcySKrnbSRo4I7GY60fz_18h69nWpKgPbMz6=
v22GRy4nZdvNkCGpAxqZfdgqOxY4T8RVnPrTIkmsG8ESB5Cs2lu3KmK4ZLI4MoH0VPwQ63X1Zdg=
tXik3Npc740aCQXgZ1H42juRgtpMmwOFyXikP4M3Q2xNV4vo-35nZNjzQfubg1KTakjC4XNJNd-=
SJfJOmCsBhdTt5qQ-mVWdsg9asknBvMewS_voOPAYJmPwYo9fT6ekXtjHAok7F36v6Y0b-Y30sR=
mLIqEJHVDqzwbaY5NlrpKO_rNgwzYxnw-cNHoqf6PTe16MIn5YWOTX1tAhBqJgegbZVC4H83k9O=
RNNCCN4EhLpOsOVSCpHnN9D3T8soxZZ72MQlKfB5kj7jPZQmf5nKuDIHr0XNL0YI1fxZriPtXg-=
RP2CyfaAXzXERY-AndB_mNr6o9qDU9QsytFLEN634njciiU" target=3D"_blank" rel=3D"n=
oopener noreferrer">pausing</a> all withdrawals, raising questions about th=
e source of its notably high 18% yield on crypto deposits. In a similar mov=
e on Friday, Hong Kong-based crypto lender Babel Finance halted service, <a=
 href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9=
689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtHOV8=
byrVl_tc8emBuSMq_4j6bh_Rr6yWlR8D7BIeYnAax5OI_r5rtu_8Scfnn1PqK7wQS8sav5u-bjP=
qnbYiGt5vIqo_4MAbTMgfhqO_7IIL5G84jDgCwo5MHJhjggp6U3AcWqCtcFOunnSxW22X9GMD60=
dVKcd3fKksAJ8nwI3Io23gE2lnWsnbHyrCI3KiNWg1YkPBrooiA1OxCT3jg52dhV1Eyk7ozJSgr=
pjrs_sk3XzL7kOSikE-d4USSEa-zEJG4-yHrlhbhd7xJmFToqVFi9551grsX1pSH3MdB1AHj2rV=
3qrOr-x3r3FJjWl1vXrwvhRdamr4bg6HwWXhxfo3lRN7bNBo950-_DRKBZqMhoIhTCWFTvTqpXF=
R0-GJpGtzKRY21FtVDsNr3uiCvY%3D" target=3D"_blank" rel=3D"noopener noreferre=
r">citing</a> =E2=80=9Cunusual liquidity pressures.=E2=80=9D Meanwhile, cry=
pto hedge fund Three Arrows Capital is <a href=3D"https://links.coinbase.co=
m/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368=
bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtEfd7z--orKE3jzWztIWIWFkyQceDfvLIX4GATL=
J4ykZkmUFTvZbBXHikhJjNzEhWG64sbLm9JJC70P3uwF4EiZfqOaSO15Ri_jYw-SZGkYejqvOHy=
s0SXtAOpOGBYz34PMqv_iiCkOGnbTFaYch6iTBuXs1UHwgFZl-7MeP8LEadFHQMNqIV5jKm8Du2=
ofAx_2g8cHKzMFWJ7R_Pmk1ikVTgDlEpzlqjIC0OKUINvWwirWMWUi8uRhOK5BiWu5f-1h6fE_j=
tNZzVFo9FwarIir570yaVZiDWkT2LvRna9ZP8NuwB-pYvrLNBgIf3xKMnKKoEK3Cyg5y0vCV6jx=
P0TOJiZ0YVj8zUgUzjZClKenrvfsUyWQ83HXrBQCYIiXk27Pa5ajz6DE8VC9LxQvQ5vJq6rolYR=
iQ0DizxzuKUViFVoAy-QT_DN8PsmfV_yh8oQ%3D%3D" target=3D"_blank" rel=3D"noopen=
er noreferrer">reportedly</a> facing potential insolvency after <a href=3D"=
https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=
=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtOxQ2nsQL9tsv8=
sYRePaMcLUS99TblM1kH40CajCd-iB98H4MVOX0e1Eh5O5S-lsEho8FXeh5Of4Skz_illaAwQtV=
NmBFzdiEa6B59Z0S_-ZEIV-dzfkk9424JUveFQM5yTi8cb3mFULjL9sOz6KLxqU0EPyY32qxceV=
5Wv7gJHazo4jfd1PDA7cnI4jsj6gCjb-ni-oWA_-Zh7yR4Zuopa4AxpOyl21Zp_pJHbAdYxkx5e=
ei0t4TDcwfy5HU5cBJCu5kZ3BiXIIl6KtLmtdJNVwAI1HOlyF-t4OydIwJo9BctAn09wlquS23k=
XB58DIrZPWEZtLDOjjwei5lhSVySbAYpIUvdu9kvxAIbq1CgzxHjzyt8AP3uSTUw-vsBGVK58OO=
M9r9IFh06kCIMSkfo1MpHBUMvm0A2b5qScOgJGe" target=3D"_blank" rel=3D"noopener =
noreferrer">failing to meet capital demands</a> from lenders.</li> <li styl=
e=3D"margin: 0px; padding: 6px 0px;"><strong>Sheesh, so what about those si=
lver linings? </strong>A Bank of America survey from this month <a href=3D"=
https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=
=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtNghR_ga-JMjM6=
NxZ8FgopSDI5og3nReOXjpjm5RmZw5be0oQxSbBxhKFUKwae9IJmUK1gRYlKpPn_YKelCiGrVLp=
vE4RmX7ucdIC8cYi50cYtXamToo988p6okc309KTxumzuVu8QMRPobrDAuaBHpRyZnG7GWFATtL=
lB1LY1UpURusDTbLdVElj2avQfawaVUiRtcdE10e0YvmH1qqM1DUHXORhtvqPhIAWpdHFw_uX0S=
m1KU7lol8HbCrPR16ku1P6i0BqFR2ZABLXH58buVwsQNaoC2Tubz1FEmJzN0kuPsbpNA4ZE4zOE=
I8dtJVx8EGeSOBKdUSVbZpw5jPeo30Xyf1ZGPIFxVYkPmDlQuH3BZK4LJ7wFKoZGjfTmpO9KeXV=
4WWSF7AkynR-sMmWC_IwjPoiH98bcb4PaPCkJFp0QkHucFWJuvqKcY83Wpt9Hh_UbKD9fIP8QIu=
uRsW-BNnQohMrgGN5xM0zXm3VQrJW0RYn8UGHUPbpHbTAaH3iw%3D%3D" target=3D"_blank"=
 rel=3D"noopener noreferrer">indicates</a> that 91% of respondents plan to =
buy crypto in the next six months, despite the downturn. And according to a=
 Deloitte survey, 85% of U.S. retail execs think digital currency payments =
will become =E2=80=9C<a href=3D"https://links.coinbase.com/u/click?_t=3D3ac=
a56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N=
71gRGpjQW0klZluxNXtPsmHr3EEJktf5ferU16BGPcrFAqe7R80Tzmn6wEXqS4Ymcsn06s6Lwvs=
mIl5wjeeId5qHcHfIxRtdyIfnEMRRsVEgRHZAOT4xGZj4RF_G5lLsv1SYdgdUfFAJVkHfRST_wD=
AOKMKVUQy2s3Q2x8YiDzuuALx1pDFSeN0D0eF5LNXs5ucxmDhAX5pSvLjCGmI8VhE3fPLryhK7L=
s7bdpNWGmfpqEZm_B3V55OeXUFzM9nhc-2QPC4rDTh92aQe-gVhvDabh315P6i93NxUGHM5rAAV=
_yCpCTLD9P21y4rbV5kG6eQJ1S3X_6p745bx_vt3h95ZA8kXfifu5GVzBHhy6ETwpIx1Z5mgpPV=
ZA7CfUdAmVrQB_Ls9DkYq30XRu55cHMlRUs-u3zQUdsNCmxke9T2rvEWo7tOH4nPacEDX2UEutj=
X29zK9yqxhwQ3o5kk8pO4OX2J_2DwRq-Ksw00ro%3D" target=3D"_blank" rel=3D"noopen=
er noreferrer">ubiquitous</a>=E2=80=9D in the next five years. Meanwhile BT=
C=E2=80=99s mining power (or =E2=80=9Chashrate=E2=80=9D) =E2=80=94 often <a=
 href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9=
689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLA71=
vWnwBrID1cnUta68DImLQPzwtWjS794OAQYcD7a091U5w3X9oFgH1YtOg4Dob8iMqF6OJx7yiHl=
EI2Hl74swj6ZCOHrjozdIEZsKuJufbpcXGlj9Zrd31qmQMakUcSyChkVEjAXdsbEVz_vj_yE1n0=
dnGyJ2oaGHSqyJGAvfDN7A6QROj2ks-9A4t-7MS0j1jMdDwRZMYWsQ0pFGS3nYq_HoeWfNNZxw7=
ph1KuvYw3VWzWg9xYC8fn5DbxywcTJH5Y7Gg9Gz5AxuzBXIK_kMqbLkPgQVzjrr6aeK4WSy3lvA=
oVHoNsg0FHFeQW3ynv4_P00xzSqt9bt5TfQ8OuDx5jMz6Vg-iHhprFNCZtopODgNr9NU2g5HjCJ=
HtyMRZsJoMd8YHY3o6RRYjLJrYQOO4xydHV0JAZJ7iBV7_kUXlQ5hSwcRo4lLsw9ryFc0np_1a5=
9ly8OuCpXr0Ld-Vk%3D" target=3D"_blank" rel=3D"noopener noreferrer">cited</a=
> as a proxy for network health and security =E2=80=94 recently hit a new <=
a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e=
9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLA7=
1vWnwBrID1cnUta68DImLQPzwtWjS794OAQYcD7a091U5w3X9oFgH1YtOg4Dob8iMqF6OJx7yiH=
lEI2Hl74swj6ZCOHrjozdIEZsKuJufbpcXGlj9Zrd31qmQMakUbg_65OM3qdX9gZhyZMU0xayDX=
iMfSBq13Bmcfr3M2brFWzzK6spdn-EzruaCqQPYzxa8oRRIe0txAQHjLV3ZEAz8fSZB1U-WxjRQ=
bBt9Fhn_ii7hlBQqx4rfvj7y_4uq67HWQ3mIiG9SfZXrNwCcQUmXL9q_8s8B0neMTMeAKm_8jbr=
_mOP_kEqG-LfcLtune9Id_geX9MbJbhCP58w91p5uY4bMaw4vrEcuAe2bgVkONPvPunNCelUOnS=
C70ieRw%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">all-time high<=
/a> above 230 million terahashes per second. And this month, Ethereum trans=
itioned to <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca563719674=
18192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0=
klZluxNXtLAoZpDaSEhhrxlCkKy5LM8ap7Q_zMYoc0sBQPnbpcMnQm1RLurXiMz2ZJMfTH6sXdK=
EFDecPXpvGlSpz3LX3YwjQJKDTekmQk-l2AQVH86gxbkrdVlj1Cgpg96t81JXyl-n-FWbzKrltp=
yKZE8qKqL9S12NI9c21wUHGbOmoSulgQsLAJjXpESfbUP7n8yzC6tdzEQgSgozi_9_Tt8DMAlnQ=
tPfAlNBRXYQkY7iSHICg4UaJX4vwaGJF4XvG0hgE3qymAWFteXUf0xIpvznMUIRLhXLjJhfZU-M=
H0PBsxggRUBJRYUC-L48_G3SdWC8iaFzYiI1FB8mOC1waO18znG_Uc0RYTfjpOgiQ5kmQ8JnrQM=
24l2EesPKBQi0UFPkNVrBIvI472hgrNmIWzTE6xI7eQ7aeq4qwbjtwQ8kyo5wB3G6JA19GZyCBl=
HYr5dKHg%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">proof of stak=
e</a> on its <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637196=
7418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQ=
W0klZluxNXtF6pUL4AW8ZjsM0c8pFn7Ebt3JSaCFu1TU5V6I0PXAI1IPoRvwYiJq49wQ6JWVmk4=
zmwEd2xpqh-omschB5s3WdnaOyzG4xMl6PxJ_zNBPf6uUWoVmIg4Lu6rssxfUmL67uUAf0wUuAb=
SRXkWAQE8igDWP7DK9bvDKy4DEWUHlrxz9rgYKKT4fifMCdm-b5cA0-ImUoboqVRreE3DMs4bYk=
YzpY_a55bbfLHPIxWuSZ5RynqFPaBd1oG2BiEIICQrIhokdtkIOQxwVU0NUFUGKS48RgJZVwomM=
DDVsEoL-4OOFosfjZHYDyQ53niobFgDNlgF7kvrLl0l2LlFQsBmv-DvWWfTKfYQmhY8k50P12J0=
4GLpbofmQvf8TisLOVz_cHcipfhB-TJgZDGsperILA%3D" target=3D"_blank" rel=3D"noo=
pener noreferrer">Ropsten test network</a>, a key milestone for its long aw=
aited, energy-efficient <a href=3D"https://links.coinbase.com/a/click?_t=3D=
3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=
=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5LM98U3Ogu8EJrUxnNDKPWqI3Pfi3Paa7=
uzZEYvlgKhUQWM7Y8zmzMqUi_5wobCXoyLizEcIcNK_IWvLCvjP-usZ_ksUrqDfxa3z-e_alzSL=
lKBlVqXFWzw0PWCO9RTFNdcTwAqXP0jiCHIo6_RxVQY0JU0x9H-w77TvS0taTcBzvoCtxuc33iS=
iX4CG9_PyQPkKmajqG-C37IFEgyo8baX2hfhKLcsGYxdvgbC8CA7We1oDkYqYFPLaaTIco3vaNG=
Qcgu05R01b9Bs2U4ALmmGRpIYmf_tyDfH9eVS9WAvh3eAd0BcYNaZ35ePuw0a5EbkqWPjWcgKQc=
6N3oxLKt_jzo12xSX9_b9I_h-XAWcTvUJqgQ2JUY0QpOrgCo9hu7Z9ItLYT1Qe95wlX3_aYK8iD=
QFbR5EOFny_uHIO7LRMjkjNhVHRapM14DS6ESHKVFAZAkPs6qUDyioc96bGnN6Muvb9albpb9YL=
Y9HZa1lkzEJNh0Ufab5FYaBWi_mIeyhd_5r1JHgbzVGGdlmCwjGJ8Y" target=3D"_blank" r=
el=3D"noopener noreferrer">upgrade</a>.</li> </ul> <p style=3D"margin: 0px;=
 padding: 0px;"></p> <p style=3D"margin: 16px 0px 0px; line-height: 1.6; wo=
rd-break: break-word;"><strong>Why it matters=E2=80=A6</strong> This may be=
 the first <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563719674=
18192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0=
klZluxNXtMbUaduPmW21r1PGg8O00ut3S9UbKb9GxiQFhF_5qkFA9F70rYd2xDUTmvU4xuRzbMN=
AoF2f-BypMKCh0Gz9foiY91VLmuo0o96uVvqygBMJo2bONcro_p6VNwgpYCfFwiDh6vE7eRLseb=
OMeVdzLPvtFbRYmUG-F2ltgQn9S3SB7DCz848eLmbXOQMoDDAh3O6vJuYGobgb4yfKlevcArfCX=
gn7t-3BezxhXUQ3VHmr_tgL4IZo8f4ZFFuOjxDkcnqIM0tR3LZbsWz9M71zg6_t4qHC101EUuyH=
hOlWa7at7OpxxH45oqWPM4Nbghbx9OZPztXL9bigU_pUfQbur60LLCkGYSpUlB6KS4NW4l7m93S=
zlYRKn-_qjTn8VX7BS1tD_jmuxISrp9PDBG_lHuqZF1J-WW7f-QjOUJXkRaIT15z6jBb8hXB9r3=
xcDQm8w6Qvs1Fk-jcr0K4h2vXBCJpjTaiNIN3SubqyWDZa5E4OIVaZIFanVdftZlZ6JMviCLmfe=
FuFQW0KAQoYF78M31mt_KjuEb-bfVVzJSfoPOX9" target=3D"_blank" rel=3D"noopener =
noreferrer">crypto winter</a> to coincide with extensive macroeconomic setb=
acks, but it=E2=80=99s crucial to zoom out and take the long view. Since Bi=
tcoin=E2=80=99s invention in 2009, the crypto market has survived numerous =
winters (with even more severe <a href=3D"https://links.coinbase.com/u/clic=
k?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e801=
1f&_e=3D3N71gRGpjQW0klZluxNXtIdxGysQscd7ZFExWdzo7CswWzaamW9m3C9NkPM1t8En69t=
mjgSLUtbzgS2DqI9-2PA6PT3HcN3RCBiCmLoDNRsq7zQ7Ichmqij7GCSuPS7LUHNwg1lvmteyaR=
Q0tzaXTeYIij1hIhIupY3I3cAVPfYf8EViBGyDe_1XmTXzdCDQ2oJl8-7o85FszK5VWKthNpMRZ=
LaLHZoLzJmJtEi2FEX5tuKijfeMKtIGbGhl7yPXGluSUVJlogQtSonSpTec7u8P0ZY_jyXLimUC=
LdyK_C6r1dW_t3B5LPrIbJjasjkFCRe1hMPfcVCImaEivORTPwbvQ_W-pbRFFQVWwW7cI6_W59Y=
q12IPi2JLy3xNiFD9hjm4Hwnzq6yHAGgfNY6Zf0YgQI2SnIEGQd2a0jXmX-xEnzkhGGY9e8Y1qF=
QBv94F" target=3D"_blank" rel=3D"noopener noreferrer">drops</a> in BTC=E2=
=80=99s price) and each downturn actually produced key innovations =E2=80=
=94 <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca5637196741819225=
5878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxN=
XtLAoZpDaSEhhrxlCkKy5LM8ap7Q_zMYoc0sBQPnbpcMnscp_MWc2nmSRo15ILxH36rkc70atcm=
HBbj-woObkOmEVvy-ga_L5W5Eax-3YFDMRcJ_U8-PuJWWfYmrdxa30dJ-MRx3pezn1ppJEaqANj=
ccL0YUOa0iRBljqdx0LnWnscjEMLIlwsjRiu3OYETfd_zEgBfcsZpxyeY1oGjxzdEu-MPf7az4U=
njq-Q77TRVvE9Bl5kOmAIwAtZ11pCUkdj1UVUYkdg6A0WEt_0SWUiNb6XckfihTEFp2UK6RLhUX=
IRLH37RiSg6IVhMChNgWZnk-Lks04eGtjrJ9rFIjQAY-gTemAs4AwQkt820Hrnz8jmBszOVyY7u=
hSUJuzUywor_U4rOOOePQZz056CYlLwziBoohAHOTCIm6Xn0eIl06u" target=3D"_blank" r=
el=3D"noopener noreferrer">Ethereum</a>, <a href=3D"https://links.coinbase.=
com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb073=
68bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5LM8ap7Q_zMYoc0sBQ=
PnbpcMnHLfN92Cle8HGQldCV5kL_o_Ex4w8jZ7mqn16jo6MQxA2FNmZ8sURNRGiRI3hRv1NotQC=
yB45NRw-dj-oiHsV29A_CYdN2Vg5QSZ1v2dWK6wcHw1Ork_TDQqts7ulv8f6kA2W6W-l_dEDk63=
j7Rk-RO_H6GpLkf_XIdMs3p15wG35qXzPXmu02uAR9TlqvuD3f3OsfaQ8S8C-m6QDJ8VSpYFUZ-=
wxAJIWee0TGsri73RHlwroHdsvrTtO4EbGaVCg849jwBUSjYRaDWRl6kB8d_eimi4n3N1Ls85SL=
23n-MMI_xqQvPusyawMRHsyWcpYxxfSmEC6GAQTdRQ4ZlcdNoQvbjtN4v6enJnBZ7tMG30%3D" =
target=3D"_blank" rel=3D"noopener noreferrer">DeFi</a>, and collateralized =
<a href=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878=
e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLA=
oZpDaSEhhrxlCkKy5LM8ap7Q_zMYoc0sBQPnbpcMnpAHjMoH_M3ZQUJiDAHSsDqJ7OIGZUVDzd_=
Qil9iwM5656ZBDoZbwG83erM6zkCpsINLUcdYmlFZLDBpW4PFx6xbTRU2XTAPBybfgDzlKZyDm3=
547AxbkfelIjPQhksdFSg4ffT1xqwgtgX_L2h3L9B-Mm5kQZ6AGJRDFrOfI4rBhXjw8rCi9vDCR=
IP1cdyuhOTIlL_MK1DEGq3BfrgnmK3Td0LLucD8runt01giltn8TMfFvr2UTzQ89VI47YTsVU70=
Z9LxKMApl53IYy4v7WWiL72-DHsfrHACej07_S8yBH6WOkglMr34d8I6YGxVugPBzriz2wNVw63=
F8Gus60D5Ct03JLkyhDIHBwu8xMc-cs3n5zqvwU-cgTr4Pzi21IzsaNn0eJh7cMAP54Q1XNZ3-i=
sPiZVKQxBX357h-IcVRObV6lpZAFrIRbwxE0RK3EZPYlc8dXfMBuj4qmTQbRcWba3-Pq2MdgNAI=
37IMNjG_zwq8oZUGOrLEUMixgCMt" target=3D"_blank" rel=3D"noopener noreferrer"=
>stablecoins</a> were all largely developed during down cycles and became c=
ritical technologies during subsequent bull runs. So, what can we expect fr=
om this crypto winter? As billionaire crypto-enthusiast Mark Cuban <a href=
=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e968971=
3&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLAxhqjLmE=
oqqQaBwCVyfIMmFO1JU2hlA9L55tskh8xzsKqpxB3iFHl2miGPXKfcGuZCP4Ru2wnTFktaAxSim=
gtgjfazsJh-amUapCm2gB6SucKyCJz44ypW1DKWjGjvO6_f6zglx451LnZfcqyr0G1wBhtbLNMP=
W1XpwYkwBzk2afEvZ4ajDUuTg4YG0yeA4PpiEN7gWFpS0tdaSqK28eOSdU2TjdSAGkoMXp9ypdi=
5czWgSpvucisH7eKClRPdVahSeE1JLy_nkr_ck5s24PvyOq9Ip2AR8I_19Ok_XkAOZOD3OXiI1U=
vK4ps-_ZnTesDwUor23MWEtw-SgE60wPqMSNj70qkGs6Gfc-UsHfk0mLhyw2g67pdY4gSFqhRi2=
YLSQ-5ylKttQJzIwWIIGUTYuouV9IR_NWYo0bI3KwrqmzqcZu--uBov0c3KBGKgryUrsW0X1rKx=
JMJwmLjQEyw%3D" target=3D"_blank" rel=3D"noopener noreferrer">put</a> it: =
=E2=80=9CDisruptive applications and technology released during a bear mark=
et, whether stocks or crypto =E2=80=A6 will always find a market and succee=
d.=E2=80=9D</p> <div class=3D"cta_button" style=3D"margin: 24px 0px 0px; pa=
dding: 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:0pt;"><tr><td style=3D"padd=
ing:0;" align=3D"left"> <v:roundrect xmlns:v=3D"urn:schemas-microsoft-com:v=
ml" xmlns:w=3D"urn:schemas-microsoft-com:office:word" href=3D"https://links=
.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e=
1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5LM9nGMJ=
Gh6cFWdXmg0c0s4TDH4Zv4HffX2V81P_dhAOs8Gmi-7aS4ttuHBEvXq3fBcjjBpGdn8FmVYpbbb=
93VO2EUa1YTyHfB8XVb99tL6vee7tavVmtLRXFCMkz6h9b58C115kLixPxVZpbrNBSqUVQ5FP-W=
e3pV_QVd-fKuAym3tujQE25oXHjbOVLmkrKuxYbuMqDEzYVgFJaVOZSx9WcWTS4hv2kE8YlY9SE=
NljgCIyxiwN6ixS6e5xMlEWJC79IKcqMORpry3VDTB8pcJ9JNi0bMEp5dZ2XNaUtiiCIJ-3drLD=
2ahE1zwzFICFP2NPd8pcwBsx59qcdfntY4mTVQr3v14A2A2-SCXeEABaI-l3e1bvJGBu0QdZl8W=
wCwAIWcD1KNuvdk2fMC-L8FbOu6jxlDfZDU8Ga2N_Tl_lHM0xeHIX2nIZApeJKhLeceVWXpr6xt=
XzUbJs5R88GXoAv" style=3D"width:350pt;v-text-anchor:middle;" arcsize=3D"17%=
" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:textbox inset=
=3D"0,0,0,0"><center style=3D"font-family: Helvetica Neue, Helvetica, Arial=
, sans-serif;"><![endif]--><a href=3D"https://links.coinbase.com/a/click?_t=
=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_=
e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5LM9nGMJGh6cFWdXmg0c0s4TDH4Zv4Hf=
fX2V81P_dhAOs8Gmi-7aS4ttuHBEvXq3fBcjjBpGdn8FmVYpbbb93VO2EUa1YTyHfB8XVb99tL6=
vee7tavVmtLRXFCMkz6h9b58C115kLixPxVZpbrNBSqUVQ5FP-We3pV_QVd-fKuAym3tujQE25o=
XHjbOVLmkrKuxYbuMqDEzYVgFJaVOZSx9WcWTS4hv2kE8YlY9SENljgCMDlXnESWRmnm8eBu3Nf=
58vaa23yv5eQrOKI-SAMktRSJUx6TTGisRMHlZJsNe33eNCh5aB9ZALV6NlpUgxsP2spS9bYtuy=
gwclDOMJQPo6hct76KLvn15F9WZZqAaphzcynyM7HURUqxx9AijXOvdsG20E5_SMKPF-YC-niTg=
gOpFouaIxoLR97ER_qBXdJXVuToXPNr2LWkQGw8fTiVUeJfkvJScXZ9d3oV6-fonPG" 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 to manage down cycles</stro=
ng></a><!--[if mso]></center></v:textbox></v:roundrect></td></tr></table><!=
[endif]--></div> <table width=3D"100%" role=3D"presentation" valign=3D"top"=
 style=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px; bo=
rder-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"center" role=3D"presentation" valign=3D"top" styl=
e=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px; border-=
collapse: collapse; border-top: 2px solid rgb(222, 224, 226); width: 100%;"=
> <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"top" style=3D"w=
ord-break: break-word; vertical-align: top; text-size-adjust: 100%;"><span>=
</span></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <div> <ta=
ble style=3D"margin: 0px; padding: 0px;"> <tbody> <tr> <td style=3D"margin:=
 0px; padding-right: 11px; vertical-align: middle;"><img src=3D"https://d15=
k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e=
-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width=3D"12" h=
eight=3D"12" style=3D"display: block; width: 12px; height: 12px;"></td> <td=
 style=3D"margin: 0px; padding: 0px; vertical-align: middle;"><p style=3D"m=
argin: 0px; font-size: 16px; letter-spacing: 0.075em;"><strong> TAKES </str=
ong></p></td> </tr> </tbody> </table> <p style=3D"margin: 5px 0px 0px; font=
-size: 32px; line-height: 1.26; word-break: break-word;"><strong>From billi=
onaire Mike Novogratz to Kiss=E2=80=99s Gene Simmons, the week=E2=80=99s cr=
ypto-iest quotes</strong></p> </div> <p style=3D"margin: 16px 0px 0px; line=
-height: 1.6; word-break: break-word;"><strong>Galaxy brain=E2=80=A6</stron=
g> According to Mike Novogratz, CEO of crypto-focused investment firm Galax=
y Digital, Bitcoin =E2=80=9Cwill lead the markets back out of this Fed tigh=
tening.=E2=80=9D&nbsp;While acknowledging that the current crypto downcycle=
 has been =E2=80=9Cmore painful=E2=80=9D than previous bear markets, Novogr=
atz told <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418=
192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0kl=
ZluxNXtAZVtCN8Yunum8AAlVc3NDUP9c-vH1hPQbhU1htdSZPwScWgEFzIQp4PdUCjuFkPWHxqH=
TH6YMBxv5ZEGIlGzlUpLUgdmbwVyouzXXj4sRtXbv7xZzF5o3uNo01jA6ltKVeIt_apGYV6GOZN=
ejGE05H_T6KoLtHH7DvXh2-gw35BfM-0z2Q6Fk55gTJxxejU2tAl_s4GTHHoS41fqUwJt8Qyitx=
Gni1HwHN01OdQzU-spPbVhJWQmt_ybFOLxghjicKvT7TZL9i_QZQDSO0SrVCPJjHH5Xm1VaBEyz=
VIdnbXugOQ5kCJkE_bIKaQbiHw9h6wdWsCL-HjOwoNUhx0lvawEfsPAUtlye5McNSZvlz1vJIGE=
JmXs1l2yQrzrIAxyJaxELM65XVuHx_p7vXRv0I%3D" target=3D"_blank" rel=3D"noopene=
r noreferrer">CNBC</a> that the tide could turn once the Fed becomes less h=
awkish on inflation.</p> <p style=3D"margin: 16px 0px 0px; line-height: 1.6=
; word-break: break-word;"><strong>Smooth Sayling=E2=80=A6 </strong>=E2=80=
=9C#Bitcoin is the antidote to chaos,=E2=80=9D <a href=3D"https://links.coi=
nbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45=
cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtOHLNN4hfwOrH2ER24Ic9hc7Xcj5Lnk=
_27qmATedXCZ1vf7AzIOnKrvEHR2dEwlnWsR5fj5xOnVgSaeX7rtNO5Lx5rJj4WP4WYhHDSnVVK=
MMYr30Aa5qz36XFbWQPRfCSjnjPBS_fCWLX5a_guiszek12iFDGJ4VREjxkUV_kv-VCRRWC584X=
naU6YY0Kj80a39CLLLCA2C_lmkCUwH7rivDKo11A4itFzCk0QR5LCwqpN3wk3XlNDCq9O2wK4NY=
XI4aZz9XomwOCpfWmBPfkQ7lGfPwDdYUSLSizQGhpZSUeQrAuQI7kq1qUYNo2PgNmkG2juUcd9_=
YNe2fWO5bp2cyrznFEFSe2ihLsU3aUWYt" target=3D"_blank" rel=3D"noopener norefe=
rrer">tweeted</a> Michael Saylor, the laser-eyed, BTC-boosting CEO of Micro=
Strategy, which is the largest corporate BTC holder in the U.S. As such, so=
me investors were worried the software company would face a <a href=3D"http=
s://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D2=
61529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLownKmYIUZDcP4bYp=
0Z2Ur9lAZ_vtwB5aVelLbdlQJNVGoe7kpKg03BEAkazJ6AqH62jtjegpY1Ujsa4zmxdHSWk-nHC=
f9O0qqVS0rdzDsd8VzP_5P-nPx7-rU6YYDZycISAz5XTEUQRSm1YNPBY5QsMUYZOlS3VYduhLKe=
fIkhexopaIvFhQpdlahP4fS0blSCzbvwtEmvbIPMeaXgJR3w4RPYpk-nfwhkmEcHbgIgYc17s-G=
wBFj3wW3suuOZ8RW3FsHxrMopca82Td9nJ3yRB2ZVn8h5pqIV5pJg2ook4CXeC38WUcuGKJjluA=
YYVaBcGYOQ5kN1vyn5d1OMxPXEuSOCJg6Ez0OBvS0hjiDf14KziWE2fpOfRUwxERgwnR-noIJGb=
jz5qNUm8oxByEs%3D" target=3D"_blank" rel=3D"noopener noreferrer">margin cal=
l</a> on a $205 million BTC-backed loan it took in March. But Saylor <a hre=
f=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e96897=
13&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLmAEi2HH=
vuy2wogKubItY16FcanXuyTThiiQsxZx0hVAR065D2SbqYUvQlaqTTKMCtZwe8KEsQtJhlBWjct=
mcUC9erxwH-9fSSZCKvJIxMee_v7nd3VJcwjWkhmMgvE2DrG0t7dub49GrGSuNmjlgaUwYKXUpZ=
_ONK8w-m2vjb9pj47fb-KTGxq54ia5eH1KDdfwavYDQp8Q_KZnGMzZm1u2nfZ57uUI7e0h82yRN=
7zm3gGCWC8F5OLWHf3hQw2PtJhH5A3Dv65_DQMOtFRqHb8JZzVtYOi1Uudd_OxMbFSOrf_7auD-=
GQoroo4nFlL8SiAE3ox2G2QPF5-EJMvpjBdHj__-IOYYdieTqQlp2T1p2RbDkXwp-kmghahvnsn=
0KQuiLc1Xxviktgsq1ryaIKU_rl4z3UFjBowtzBsQByEkARRmekCeRyin_oPYUzhIYfk3y4D7dq=
tN1x1xlIDdvjr1lgnDViAKCNwbsGofWiA" target=3D"_blank" rel=3D"noopener norefe=
rrer">told CNBC</a>, =E2=80=9CThe margin call thing is much ado about nothi=
ng.=E2=80=9D</p> <p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-b=
reak: break-word;"><strong>DOGE defender=E2=80=A6 </strong>Dogecoin doesn=
=E2=80=99t =E2=80=9Cget the credit it deserves for helping onboard people i=
nto the space,=E2=80=9D <a href=3D"https://links.coinbase.com/u/click?_t=3D=
3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=
=3D3N71gRGpjQW0klZluxNXtB-gdPF-LQNRnERSrwX7iqDlHN9sSywS7vDaNIALE6dxunGLXJUT=
v2OpA6zuStXytXUYyI6bKopa4yaJkx1kgmsZ_LjS3kOvIJPlywSlhbwoAmSkIjMqnxt2yJsaogC=
iO9NM6hq4oM_aU02exKg0BZIw7LdjqXXM2jqluOocAh5Cq9uK08gIPiqxWt-wevfJ57foOBTY5D=
JpgAylMeoRpy0WkaT_b8PTTkoJwBjBeJDmgvti6TtnEGy6BYSkhh1Xq-Q8cfpnUFbdKCdfV-2ph=
CMUDn2xt14LbM13wJ48Wft1X9HEi12hkaLfMVg0-RPKxuUX7B2WhYEWS3AvL99ENlR-1G7D3IXL=
b9m8_q1hhzu0N3uVWHKBNZpdcDjWbg0veJl-L5pJamSROJy7TU9-QpDE6MjGL9s2ii2aXorsNLh=
I" target=3D"_blank" rel=3D"noopener noreferrer">claimed</a> Christine Brow=
n, the former COO of Robinhood Crypto. The dog-themed meme-coin gets a =E2=
=80=9Cbad rap,=E2=80=9D said Brown, who sees its lighthearted nature as a p=
ositive attribute that attracted new users to crypto by making it seem fun =
and accessible. </p> <p style=3D"margin: 16px 0px 0px; line-height: 1.6; wo=
rd-break: break-word;"><strong>Rock =E2=80=98n=E2=80=99 hold all night=E2=
=80=A6 </strong>Kiss frontman Gene Simmons may no longer have a diamond-stu=
dded costume, but he does indeed have <a href=3D"https://links.coinbase.com=
/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368b=
fd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5LM_W1OSSnczqMjIUd09a=
KBO3ydUTganODj6wmgar7jLtYk85HGFsntTnLHPKAif3X7p-4WsRVI5UX2c2wVV2CW86cRX2Xe6=
MhqWypviiC1Z1Yec1LI7Xbc5rJyfQdfHwhFTwczhTdcJtP_ViMbfCg6uvomN0wi-7FlfQuXCsoP=
EhXW9QPHudhSbb3ywnZk3BgoR_uHyAz3LZx6gefGqlecmLgNbL4gXs5iy3G8VeMWAnPCm_ph4_T=
LYd2P23abBuQjAPj8eEcmWgOK-Dm83vkIp-XNFXVFdfzo0xo-cViH1zLeCd1vicF-YpOmS0zrnw=
up1Q1OPCSdRMaBR5OT0HTUXfhvWx-rM7VtQzo7VcLlO5UtkU8o7EwGTH5hbq_2aM2J8OF26ruk9=
lqSbuBQyTSbco" target=3D"_blank" rel=3D"noopener noreferrer">diamond hands<=
/a>. Last week, the 72-year-old rocker took to Twitter to announce his conf=
idence in crypto: =E2=80=9CRe Crypto currencies: (Write it down.) I Am A HO=
DLER. I have not sold a single position since the downturn. I believe in th=
e future. The Near Future.=E2=80=9D</p> <div class=3D"cta_button" style=3D"=
margin: 24px 0px 0px; padding: 0px; width: 50%;"><!--[if mso]><table width=
=3D"100%" cellpadding=3D"0" cellspacing=3D"0" 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=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtL=
AoZpDaSEhhrxlCkKy5LM8ap7Q_zMYoc0sBQPnbpcMnKH-N6Lyjwxi2b5eHxV45MrtS0vxFX4j82=
eKdCCm7ggxj7VYa4KIz2osxnrS6ZXdBRWr6qtt5snsT_kS6gB_N38YugKHIqZLeACDzUElMKmuy=
nqLsvkQZJ_RvaHybX-Yeva_RnKMzE8nkrRrB0MC_oHIZLUOqfDYghE8XjGca3PFmUS2YtYCBC2k=
p9keYTNj37w8FClmLiUW6mrNY7E-gE-hBO0Lt49nJQhj1CcmdYHEITewkpDYBtxknY3anTWk6-Z=
HqTbCm9eSg6zy1PcFqczD3Z4_1CXmi2uTBIZ9DV6Lm6g20uX0KwoDMBLQC4pHqiV979S-QZJUK1=
AvUlA_Jajk8eOdAlvYveywMaAluSj-U4sV16Yxa6JVnaGwq81Rp" 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"htt=
ps://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D=
261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCk=
Ky5LM8ap7Q_zMYoc0sBQPnbpcMnKH-N6Lyjwxi2b5eHxV45MrtS0vxFX4j82eKdCCm7ggxj7VYa=
4KIz2osxnrS6ZXdBRWr6qtt5snsT_kS6gB_N38YugKHIqZLeACDzUElMKmuynqLsvkQZJ_RvaHy=
bX-Yeva_RnKMzE8nkrRrB0MC_oAq0AH4eyOb5a4uF8MTl2Fn5IaksJI9vHUBescyFd1_hryF6Bh=
DlLQmuTcZ7zgDGAyrxbgDv2wCDNbjjKq1zvM0fNw-ox_fpvVKzhMyDBOhrsmHqOojCRR7Y-NrZ_=
N0nd6mTY1NOBerFq5SnO-ht3BLNbBUfZchtBK-rDQH9JAF1_ql6sCbmCA5iY2uxRIGdPudTruhG=
k5J4JKxV9Gj33JqVgepmP-_hIgiF-Eo_H4U-" target=3D"_blank" rel=3D"noopener nor=
eferrer" 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: center; padding: 18px 0px=
;"><strong>Learn BTC basics</strong></a><!--[if mso]></center></v:textbox><=
/v:roundrect></td></tr></table><![endif]--></div> <table width=3D"100%" rol=
e=3D"presentation" valign=3D"top" style=3D"table-layout: fixed; vertical-al=
ign: top; border-spacing: 0px; border-collapse: collapse; min-width: 100%; =
text-size-adjust: 100%;"> <tbody> <tr style=3D"vertical-align: top;"> <td v=
align=3D"top" style=3D"word-break: break-word; vertical-align: top; min-wid=
th: 100%; text-size-adjust: 100%; padding: 48px 0px;"><table border=3D"0" c=
ellpadding=3D"0" cellspacing=3D"0" width=3D"100%" align=3D"center" role=3D"=
presentation" valign=3D"top" style=3D"table-layout: fixed; vertical-align: =
top; border-spacing: 0px; border-collapse: collapse; border-top: 2px solid =
rgb(222, 224, 226); width: 100%;"> <tbody> <tr style=3D"vertical-align: top=
;"> <td valign=3D"top" style=3D"word-break: break-word; vertical-align: top=
; text-size-adjust: 100%;"><span></span></td> </tr> </tbody> </table></td> =
</tr> </tbody> </table> <div style=3D"margin-bottom: 16px;"> <table style=
=3D"margin: 0px; padding: 0px;"> <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> NUMBERS TO KNOW </st=
rong></p></td> </tr> </tbody> </table> </div> <p style=3D"margin: 16px 0px =
0px; font-size: 32px;"><strong>$1.6 billion</strong></p> <p style=3D"margin=
: 4px 0px 0px; line-height: 1.6; word-break: break-word;">The =E2=80=9C<a h=
ref=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e968=
9713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLownKm=
YIUZDcP4bYp0Z2Uq8QpLNDWv_nU6xC9tRDWTEgJFXmaioieCDODzAh-uB3CR0u3DAzB3cRgsZQ7=
jFEtv4ZaTSyoeAfLrjG9BpMV0q9Sv6DD-LSnFHo3FKPuOuu_y5brrOTPCXHWhERBdATjWtVjYiJ=
en5v6wZCWbNyJiQvcFz83bWDPbVUuxavWIMwaf_bMiWv6tmelsUD5bOAhNYFprvvfveUTvbT3CJ=
v7mdtNBSlyh21BXVcGBW4mgfEJzZBigusZxz6QQZaF6tZTY8T6PdqMAoPAyPVs-toioriDinO3H=
ETRPpT6x7iQ6dwbWsB8bX5ZxMUNh-WJjYymxyTFupI-fTYzAuyMsXx8rO-1DYjy8HkL9rc5mkqg=
4RRHyeMdCW2DE-_Xa7wDyLbQk%3D" target=3D"_blank" rel=3D"noopener noreferrer"=
>unicorn</a>=E2=80=9D valuation of Magic Eden =E2=80=94 the largest Solana-=
based NFT marketplace =E2=80=94 after this week=E2=80=99s <a href=3D"https:=
//links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D261=
529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLzaHY4p4eCYUyVeUfsA=
XL8RzZ7HfcZbgMMD6GTcKGwtQ0CxrMMWPk-dmwUi0Xfgm6nfeyvvkaZuYP0G0K5N98MgjFU-fgZ=
Cn-B3hFNhqqBc8qsKdUvzpgWnS1bmrkIHEzII7KzmDKf_GMPbOTHapv6g6s5EkXryQsY0VIulhd=
vIPuck-EMPNcEj0QxCpJgX_vbfa04yCCnjseNx5pAP6Dw0mbExeRW1uTgn-5Yl0MPz8zgGV09Lr=
Ifwv2UTerlkf6Kc7DYyX7WQ0Dlo_cIrc8pMMX1q1_fHq2b4LOTNCfIcEhAKtrU2NjVCZMhrbw7b=
HicCbhVlh1oFtVCpmQP1tfSWe6Hx3rAzv949nZKscL9pw-O7dcqwKw4KoYzP97AyP0Sz9Q3CiMZ=
J64Go1WXKuzKvYA_0mPnb7R8qBRbDe9u7q75q0Z9_Ofzh-LPwGnTwkJwwY09Qf0xah08zNTWj-y=
s%3D" target=3D"_blank" rel=3D"noopener noreferrer">$130 million</a> Series=
 B funding round. Meanwhile, industry leader OpenSea, which just enabled So=
lana NFTs in April, has a valuation of $13.3 billion after a <a href=3D"htt=
ps://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D=
261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtIjw-vZYcepxZdQ4n=
3yQxAJToqcMtJgLH-piUJNKDLDaupJi3fS6CnNBGLDuVx0rKh4--T3YdUsAvdeLASLg1hmfXxz3=
GU5YNc-mXQQ8F04e3XIHG3tvrfzLl47Pv9hNCkgH65lIXTyzHi2FgapklokWKMlzDOq-VWuoG7Q=
mLY89KZWPkxxfVilhw94kvofkT5qEYv12tRUvmXFsjI2QYcq6tjgH4OVkeTsCao16LhY3zMUYP9=
R9li9iaHCyCQf_ArGv3mbFMfhZ-R851nrFXtsu6qeX6-3q9LyYmh5CE5ooe7pp_17_HObTuHifK=
MEML_6R6LgOHkhHWzAOWx4ohmlQBq6wYoKrI1Rp8eJE8ds9rkglq9-Glj7_YdShhWDmvo5KikL5=
KifuzAwX93OA0mHs9w-R5g5M5HrXVZrghvCK" target=3D"_blank" rel=3D"noopener nor=
eferrer">$300 million fundraise</a> in January. (Solana is a popular altern=
ative to ETH, thanks largely to speedy transactions and low fees.)</p> <p s=
tyle=3D"margin: 16px 0px 0px; font-size: 32px;"><strong>15,000</strong></p>=
 <p style=3D"margin: 4px 0px 0px; line-height: 1.6; word-break: break-word;=
">The number of <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637=
1967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRG=
pjQW0klZluxNXtP8vexHVbLJfFO3e8_zSbbL9WxURoBLXWONuzk8-AqoANcjF9slVcbg74_NbKx=
3owtYicSWBv-mP9E8LKp91WYog1tQPRJxYjFor25AzvZmpzIGEDYAL9xjyTkxKXS4SMbEfep6Ce=
YK4d0xm4fUwetRR_dYbFPoaXjEgYgIBcAkHuuVrJ9KfYwE2LvlJLb6cL63Xu1aKWxWnCuAutIKy=
RIVUZx-E-OUiqrls8xpHvwnLwqxm2Uq4SFer03ciTlT5RTCzM8nFex0_fjNDvd9HJtfpgPCIKaL=
jipBzYBp8SeQh4w0FLzZbP70kWnDx5gYlUIit7ndpAiC0ZRAETft_9Z_gXhTojdw2qsCOgoil2A=
IDDoO5i6uWNqJeN4NyDJoD7mfmYfjnMiztUfAPstdS8eY%3D" target=3D"_blank" rel=3D"=
noopener noreferrer">people</a> descending on New York City this week to at=
tend NFT.NYC, the largest annual NFT conference. With triple the attendance=
 from last year, this year=E2=80=99s fest will include everything from the =
premiere of Coinbase=E2=80=99s Bored Apes <a href=3D"https://links.coinbase=
.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07=
368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtPVOOhB2CHfsJFekgpWHNLiCUvXj9qo3uwxs=
xTXJH3cyKg-O7noz9dgzYhijeKX8QumhEknpJmDTzgPMSzLVkZg7v8mkq4AEacrKygJkItRfMdD=
8vRRjPM8Dpmj0aJGSgiGvujhIUk7C-v55RvGDvYH3-xz4S6ywhjBCZL00xa2yQ-qE4jGpLKZRnN=
ejMMERe-cpdB3O7or-GC0m5Po1gBXPNxVYSO02mkSdoxdtqKehnyYc6S5CwN91lfUWb3c2E4suj=
jeGrlQM2fBtl_nAubAjNozQokFgm_VAI8OwRQzIUb4_bB08cHIHVnpM8JAj_YkvKHTKQ8g6IiSi=
p7hEwnrJLX3MDJUEDHw4Xs9lpZxcCsfzTK-VLgiEHF5HhfmM6UcIvp7LFWpQ3gBPFxcdLyjaJCF=
1A_j55qXE9Sx_Mb0wl5McJtPVRl1cKrKNvS1GRg%3D%3D" target=3D"_blank" rel=3D"noo=
pener noreferrer">film</a> to panels on wearable NFT fashion and the second=
 annual NFT Awards, not to mention plenty of late-night after-parties from =
collectives like <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563=
71967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gR=
GpjQW0klZluxNXtLHx_FYpnGSQZ2_G3uK4nzxTBvpy3R6aN1suS7IL8NJKmO6ZOyteWeict5cf9=
qparAFMtYkuMRTj11wG4QeLRa3af-NcXtCc0Y4bRapf-YPNGuKEdLlqk3G7I5a1fi36KfzM5LGy=
sN80tFCFJeO0c2kyxpOf68wv1PHAEklyjP7wRFSKCr4XZbXl66qSFe6oLZZv4SUHtpOUmbQGw0s=
MjvbpvXKIsK34WUGFZKVjmc0AxKJIFASupkjgITHdUKGQMMbia3UScK7WlzBvV-rwOMU41vN0W_=
DP_FmywtWhYXZm6kt9j0f2VfmM0a0_sxQVfPpQ04Vf3VZbaFds9sJNNAATqMeyYjE8JHFvrD6cG=
p2Lip5ooQpi7JPv2BnKUhnyEYWyaNslSHAoWf_M7US7RvADahTRNPFh1l1u8QF5EX34" target=
=3D"_blank" rel=3D"noopener noreferrer">World of Women</a>, <a href=3D"http=
s://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D2=
61529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtE8RmwO9bL_4-KZ5yt=
y_SIBT6quDnHIp7ibxg9zYANtlwHxpxgjHT3-TbaajZbvMqgStvA2jkDL3qup5yDMD-8U0Z3z0H=
QAHnj7oK7OIewqPhizMstQJn_siSwJ9Y7FQNmRWq7JBj8aiV3_lBUh3r4U1VzuOh9hcwBhwK5Uq=
3GTFT8Az_-11s5plnDa65cLVCCF-jjc9iRkQM6F2LNcCdysYjD6N7dcwO3N4J6nq12elHWruTS8=
fBaS-RXyHdp5ZyR6c3G88bLeNCg_DgD9bQwEb4NQhbP-BMpOC6iYODmh9z96uegW8YdRUYRvq09=
ynC111HgtOMafTjBGDOdqDcsNNTLdt0b0BLfuLHCD-pevg4C9Kk-BEK68eylbzadejUw%3D%3D"=
 target=3D"_blank" rel=3D"noopener noreferrer">Friends with Benefits</a>, a=
nd <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255=
878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNX=
tOsT1ez2GfzwS2tMG16xTxivEmNsxhbRaYM4Y6LrvxaK7a91Rj5emTkchCFqyTJe2Y07CbfLGu5=
cQM6yR_v-U7E9I3OKxX3jDDh-GxTaWdb4GeX5wJv6YSIXUeYojhpUuz-LpllPxU9r-i1b7iXMzM=
twbcrjlUi4ovxClXvQXj_R_JPZ3Ou2rJGE3_6DBnFoDfaCBSQGzj4V88nFZDJn35FO9sr1QpAgT=
GVIF5c6V7WlZFvr2vxk_q6S9CEo5uVu0Kp6Zivpr9tY2VmChcmFoD0wrFEy8_tWxpVlwv2QUJ9G=
gf2hYqVR3ay2vB542PM8zPRVtF7nXH0hjL1JwJYEiiPTAM5XOnUjKpCaTJ65sS5h6EWVWwrLPdR=
En4ugAMxW2iaM6HI_206ku6dMNni69kgv8Bwbm_IuuijlsdNmDEY1sa01zFjxCl6vvWFg8YVEFA=
%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">The Heart Project</a>=
.</p> <p style=3D"margin: 16px 0px 0px; font-size: 32px;"><strong>$1,900</s=
trong></p> <p style=3D"margin: 4px 0px 0px; line-height: 1.6; word-break: b=
reak-word;">The current <a href=3D"https://links.coinbase.com/u/click?_t=3D=
3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=
=3D3N71gRGpjQW0klZluxNXtIARwRnWomgzjYh5UWpyhVZjMe4NwtE0b7WzTCzYfa5BdVXCKaIX=
kSVBJpHHgUrao24tUfq7jJhTvfqQFMUpgLcHALl565d82cKRbcfI3n5z8mbog_9oBuvOLGR0iXX=
PcBcVdEbqcbwewdGj_tEaHnKdNnJR5fuPuyNTh3uX9TDZHupvQH404_YFWAANHZDOxZL4lDmy4E=
lRwzAuNbl9C0NA_OVt_tTTr4XBtWvyI4fyK11DCeUpLUMESm2jeATz6jAXv5w_GawV3NqzpWUOp=
njMH_XbYEqiCnQocK9gAVSyerLjZ61H4aEc8YVVlpgjiXbBokGn5fGeRgWbdOa-Awd0v4rReDpJ=
sSfPm6pYJRiHbOsQrSz-TXK3Aa3sOYHeEBKYZ56Ow_25ziikjCpFySrsYjvqJO1KCZhlqSiU39g=
1fQFy8NcNsUP0dsholRmL4Cz12gaETWbY9FM-1bwpBRU%3D" target=3D"_blank" rel=3D"n=
oopener noreferrer">retail price</a> of a Tag Heuer Connected Calibre E4 sm=
artwatch, which comes with the ability to display your favorite NFT on the =
watch face along with proof of ownership. The luxury watchmaker recently st=
arted accepting more than a <a href=3D"https://links.coinbase.com/u/click?_=
t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&=
_e=3D3N71gRGpjQW0klZluxNXtKqvMxY2gMKIHtTrueOEZiyjOjKGxiAkC0zj3L-HIwM8rZBwBM=
u2euBe51F3hmrhNBJCTbD4E8zzEUCWDf-vS-f220TP7AjZcH3IWminSxgtZsD7Lofr7LDuqnhgP=
uSO2vWuXXhHOmM614Xc36NQjHbJqLs4T-AupuQfzHTJgVxsB_BfSGhJVfs2E9RpkHUcDW8-wAyJ=
JnVvbvXa6Y2dzNXWXhmu4wzBMm15ma50GnoJlPkmJIGQW6ZNns0wxFAD9XufHfpv3NI4BZ332lN=
yZyGeZJCEt7uC10iKokqg12_8jMYQQEbrzrfnGB32qvR8V6p_3wzgOYxm3kkG0yIMLCIgTO-iyP=
j8Qvsj9GKIAzzaofcnlNAVcgwB63G3vnSn4m09wMMUUQ5QMVRwKomA0yykD_o-bZYSGT84Q2OWr=
AnpXeottelZCS-VozYh5AWZWQ%3D%3D" target=3D"_blank" rel=3D"noopener noreferr=
er">dozen cryptocurrencies</a> as payment in the U.S., and its CEO, Fr=C3=
=A9d=C3=A9ric Arnault, is the proud owner of a Bored Ape NFT, which serves =
as his <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637196741819=
2255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZl=
uxNXtCCko-nPrCYnAOx8Slx2B9hcJ7ms7csHLsBvJtEed6JbX202RBZ5L6n3rih9wdCMiNJuD2d=
WRuT2LOp5k2ytvpv4HbRTPZ5Jbe8tEmzSd_AmKCc7qMxRwIvsxCiey1wywMwrQW7fhziHhapczv=
avj_ZPiacoiTv2vK9AtGVt7LHO1nwXie5Pyjh9Z3sZ14N-iwAVJkP4ynS-QAkEAvyQhSt8Hr_4S=
YrePVbl2GiSE7dESWTeppHzm0KJvqa8kn3T4e0FG8oayFLQn1U8Q0EQVeANYCdlYSZvYioDH0xa=
PGQjbeUp3CLDWexh7DrqVngszI3f1f5opW1LJkOxmdpVppQWy2EZnmfGNVY23dOkmB50QKnpKJQ=
5yyH4RpIFEI-LbQ%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">Twitte=
r profile picture</a>. And perhaps his watch face, too. </p> <p style=3D"ma=
rgin: 16px 0px 0px; font-size: 32px;"><strong>Web5!?</strong></p> <p style=
=3D"margin: 4px 0px 0px; line-height: 1.6; word-break: break-word;">The =E2=
=80=9Cextra decentralized=E2=80=9D version of the internet that Block (form=
erly Square) CEO Jack Dorsey <a href=3D"https://links.coinbase.com/u/click?=
_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f=
&_e=3D3N71gRGpjQW0klZluxNXtK8nYRfAJflL19heyFDGZsfnoHik8npSva7Ix5HrP6ymP33Ex=
5k2qdVW5UPD3hBoCLanQhKDP5ZTqMQvzk-xPiVvYWi5oMQkUi0TPmybe2JFVtyxWdaaJ9J6zMCD=
RNPo_9Eq_ubCq33OZbLuVzgjnKK6FZU57F3ruwmRt9K_QKO54Hw5XU66MOMeXnHO-VWLH69Sy_8=
LWJWfKTL-ifiRzrSHjQXb2P_lnbAJtkDMAs-ArkNsRoOB9BEw-X62UMo9W4cz39b8GHg0G63uIT=
IJrEzw12ZUcybC_PudVYI1eCJBivTjf14d2lB6e0ypLettouSXIhFTXPnTKPrAJ0ci1CwHN8LES=
hSpY4j4rZdrOceQwo2ahBjcSLXWTRhTIZaQXqg-GtMhEo3_UUpiWLpB8ZKOFCH8Vwy0vHGqMTvi=
qxiN" target=3D"_blank" rel=3D"noopener noreferrer">said</a> a special divi=
sion of his company called TBD is developing. Web5 would use Bitcoin=E2=80=
=99s blockchain to give people full control over their online identity and =
data =E2=80=94 and eliminate the need for different accounts for separate a=
pps. While some wondered why Dorsey <a href=3D"https://links.coinbase.com/u=
/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd=
4e8011f&_e=3D3N71gRGpjQW0klZluxNXtNEmE-c7zaGNFTOvHKcUn7DowVVYH8tytQ__UQV8g6=
2DKwGWbqOqlIzJPmvCsEo61qNz9PfB_Uv-ZAY-EscXe6G6dqWveXaJJutCMqZZB4leRhjVv9-z2=
PjnG8etwFpaLnbM3lZrZ59FkCuZ_CDlcrF58Jwtg6imIYHQ6pXWAZiQhyknf03j5QVXwwHoQsse=
W2-fPwDg-zP4dqAhDD2P_VpgtOZUAtWkcfLpDwa-WyNetBfR22sp8kppc__54jhITUgI1u45ggB=
0p3RE4b5UZ3VCVlHmG91XpXWB9n3vFYrTJmaOS3mo0D_lvVBG6pIWKwSiS_ZbLaw2DVPHq5SIV9=
H2uOqv68w3dolwta6QxQe1C0HO0eZo1SofA9k4mziwV_VLJWsZ97AMQXtWBJeSkB8%3D" targe=
t=3D"_blank" rel=3D"noopener noreferrer">skipped web4</a>, crypto enthusias=
t Snoop Dogg <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637196=
7418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQ=
W0klZluxNXtEWH063aSxD4z9Gpc6fzT9areuGRZt2FCSh4cmXIamy8J2BmoTILE-s0Uqdfty94s=
Owm1x_dyTr026XiKt99YqKHrUsL9wjthXKYl5yVB_yP8BDsVNSfgscT1nUgi8Y1CYes069yn5Mh=
QFPU7WuMEfmu0PToSkm5up5GTtp3rinAry7IOAb7pEYuhRWNxi1DUY_AZTg-64FcMDNF9Xwtx19=
Rbepf0uxltR8U3h6rS3FB_LpBBNsTEs0C0B4QHnYGxMzDIm17OKJRFY6OiBZO5ZKw-vCqHBN6yV=
L6Sg4z2LphBnpIz8YVl5x8OShyv5ODhf53EUSNSoq0Tx2RgVOkxBr9eKcpf_wY16DhVGBeQZWbe=
CJsXBizQ4MVmBhEesiS9gU-hufHV7EzF-Z9izk4i1jMhheSBIsm3HgYITgqrfq3nYKNlHolov3Q=
XpxCoZgc9g%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer">tweeted</a>=
, =E2=80=9CWorking on Web6 =E2=80=A6 U can smell it.=E2=80=9D</p> <div clas=
s=3D"cta_button" style=3D"margin: 24px 0px 0px; padding: 0px; width: 50%;">=
<!--[if mso]><table width=3D"100%" cellpadding=3D"0" cellspacing=3D"0" bord=
er=3D"0" style=3D"border-spacing:0;border-collapse:collapse;mso-table-lspac=
e:0pt;mso-table-rspace:0pt;"><tr><td style=3D"padding:0;" align=3D"left"> <=
v:roundrect xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schema=
s-microsoft-com:office:word" href=3D"https://links.coinbase.com/a/click?_t=
=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_=
e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5LM968FY8rgfokC0ORaSAx8UpIlrHiha=
c5dKmu9wTEI7FN2l8SuLePGvnW2GodTxyrHZ5WlsdCT5NpdhaD-2mGefw9KUDYlEB7ejoXrwvUk=
JlEhjf70hJks0dP4yO-XhaB5M73LC3MAqfuGXFRTR9J6TnFel7it7UK3EY6sNlrR6xrchaFFknI=
2SCDathtKHpK6vvnUFfdrcpFyspn4FuhI6N6_SeTfZ23XNrtUlYN5yp8g7F7Ux6U3b8W8XBX3nJ=
v6RwMb6CoUKmiqylOoBK68R-asKdOdGfdQCb-9p0eaphbFsdIKX_lPBK_MTrpPRLjMPgY4ON66r=
FJWRQn0ksdwxRwjid2ZtNKTjsyn3WJfqXEdRTPkOoqv8IwjAR5iAHHbz9hV-q_69zZkYWk-UR0s=
hVoe1-RpWdpG8UOkbb7wzd-Fd6-pg8aHOB2mNCiZ4tTy0%3D" style=3D"width:350pt;v-te=
xt-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: H=
elvetica Neue, Helvetica, Arial, sans-serif;"><![endif]--><a href=3D"https:=
//links.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D261=
529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5=
LM968FY8rgfokC0ORaSAx8UpIlrHihac5dKmu9wTEI7FN2l8SuLePGvnW2GodTxyrHZ5WlsdCT5=
NpdhaD-2mGefw9KUDYlEB7ejoXrwvUkJlEhjf70hJks0dP4yO-XhaB5M73LC3MAqfuGXFRTR9J6=
TnFel7it7UK3EY6sNlrR6xrchaFFknI2SCDathtKHpK6vvnUFfdrcpFyspn4FuhI6NkaljbCPmR=
8s3fMJzEem0BRI6__FySFGmBV-aYCIujhsPf02_spqpvOxPpEQiEkxvNbqjqk39zqbKc8rcmfnz=
Lx5Wi4gWr92tZ8Y3qADIe5dID4bodk0D1Yleiq9afHE3JAbHFWC9HXJIRnT9dhojsE9P47c6Zf8=
9kOoXqqgjIYFQ8LfifACuqTT3ddq4fAclC_oOIJfqCMgXWPDUNZJpeTHQDMe9c9V6QwSfqO15rP=
k%3D" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"display: block=
; margin: 0px; line-height: 1.2; font-size: 16px; text-decoration: none; co=
lor: rgb(255, 255, 255); background-color: rgb(0, 82, 255); border-radius: =
30px; text-align: center; padding: 18px 0px;"><strong>Learn about web3</str=
ong></a><!--[if mso]></center></v:textbox></v:roundrect></td></tr></table><=
![endif]--></div> <table width=3D"100%" role=3D"presentation" valign=3D"top=
" style=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px; b=
order-collapse: collapse; min-width: 100%; text-size-adjust: 100%;"> <tbody=
> <tr style=3D"vertical-align: top;"> <td valign=3D"top" style=3D"word-brea=
k: break-word; vertical-align: top; min-width: 100%; text-size-adjust: 100%=
; padding: 48px 0px;"><table border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0" width=3D"100%" align=3D"center" role=3D"presentation" valign=3D"top" sty=
le=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px; border=
-collapse: collapse; border-top: 2px solid rgb(222, 224, 226); width: 100%;=
"> <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"top" style=3D"=
word-break: break-word; vertical-align: top; text-size-adjust: 100%;"><span=
></span></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <div> <t=
able style=3D"margin: 0px; padding: 0px;"> <tbody> <tr> <td style=3D"margin=
: 0px; padding-right: 11px; vertical-align: middle;"><img src=3D"https://d1=
5k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7=
e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width=3D"12" =
height=3D"12" style=3D"display: block; width: 12px; height: 12px;"></td> <t=
d style=3D"margin: 0px; padding: 0px; vertical-align: middle;"><p style=3D"=
margin: 0px; font-size: 16px; letter-spacing: 0.075em;"><strong> TUNE IN </=
strong></p></td> </tr> </tbody> </table> <p style=3D"margin: 5px 0px 0px; f=
ont-size: 32px; line-height: 1.26; word-break: break-word;"><strong>What is=
 a Bitcoin spot ETF and when will the first one get approved?</strong></p> =
</div> <p style=3D"margin: 16px 0px 0px; line-height: 1.6; word-break: brea=
k-word;">Last October, the SEC approved the first-ever <a href=3D"https://l=
inks.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529=
ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5LM8=
ap7Q_zMYoc0sBQPnbpcMn2gyMnk-Af1o33UislRLcU_7LiTPpwOAHLNo8wAl4qlLgoL-dOdME9Z=
hs6a6GTe-VxI7XRFP3F3bbFfOpB15rZTIaM3rjIIu9ukHz4Oo0FS61UxFeEn6sP7rvL8-_RuALX=
8xptwwAACSglsxLVexqywoN5ZMHFhzdrnZoC8b2MrRIKllbUgDgIPiOCsc99MrXVlfbzkGZWr0l=
Pmmv8MOHDdqAjhRtoBT__8PG26iQnz_ImaYIMIlBCrmlDHreIQO3LWA3tcfwCev6Ht2AhwButin=
lUWkzI4Q_k2cQH5veSt9cUxrrhwFgdf494dJD0Jyjsbzu3xuJa9BBYqeeArM-0U5zuJY4F5PsiX=
gLbuLyMBq8l3QisU9RZkBp_yqgMFWj" target=3D"_blank" rel=3D"noopener noreferre=
r">Bitcoin futures ETF</a>, which enabled investors to gain indirect BTC ex=
posure through a <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca563=
71967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gR=
GpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5LM8ap7Q_zMYoc0sBQPnbpcMn8BPzhoLnuZMgdFmmE=
0hMQi1wFIlpzSzLHJLDiNwnPjQ8PbgHMLA_iElj9DynwqURX-gob2fLHQN8_Ma9pJwE5nvE3VJY=
leQwC6Jcb2JGC1SlYJ9IYt9sbAA4YwCw5_MLtd6VLy6I0_UDEwHn8sqCs-J2e3sz7wsVuY_OgKV=
irOxH_tYMvhGawtxNAkkZ_Sbdgze6Dc9DYpwXs_UMnPCPZ54AWMutBwCRd6-TnqeZUnrUB0mvtm=
IY63N-aw4_krgpIImI0Ya6of2qS_fhsRLE3jEcRoxnDcxtHhMpXxF7GcgHa6rYT4dS06hzBlm_P=
SXa265HjeMjP5Ek6hS8WAr695rWO1RJAnHgdbHNvD4BceIg5AaEYqsvAqKvRDZpAMnbKAnd-wg4=
FCj3ThWxAqGluRdl0FqSwS9nx_uJqB9SdwUbao6-WLUiFnopyCIA7D2_TfUHcZlMZD8m64BtrEA=
hZTaNgfsvD1obSpFT94uS6MN7YbF-5V-vt8oAc8TWDW90" target=3D"_blank" rel=3D"noo=
pener noreferrer">popular investment vehicle</a>. But Proshare=E2=80=99s =
=E2=80=9CBitcoin Strategy ETF=E2=80=9D doesn=E2=80=99t hold BTC directly =
=E2=80=94 it holds something called BTC futures contracts. So, when might t=
he SEC approve a =E2=80=9CBTC spot ETF=E2=80=9D that holds the cryptocurren=
cy directly?&nbsp;</p> <p style=3D"margin: 16px 0px 0px; line-height: 1.6; =
word-break: break-word;">In the latest episode of <a href=3D"https://links.=
coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1=
f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5LM8XgbKP=
3p4yh-ptiJ2n_3AWa2OG-Y8O-k-0Myw3o_2ulu0KmjksOMi2fRd414kqmrsYguIyASJnb6J-uFf=
XuLDRX3-_qNq4Ncd-SW7b3Oj2ngrM6OgwE37-YnDLf2HtNY5PTz1PjzGVclxZdcCK3rmDcD3Mei=
FtGkeXX39mgpBvoExzMPbN53i0YzOQdMNmcj02jRJcJhhsmUhX0Pt5rtXAh_aI_sSQqYwW2z_B8=
c4zrian9XmMh14i6bb-qMTjK5Ro0-68bGnoS-y_hGYaRKRigboRVHIrxKS4z-zOp9zcf-VlNJUe=
qohvbQ28fyeaIXm2O6s7M0xH7SVIawIwl5JpTNEk4HZVrpRFimiXpW8TlA%3D%3D" target=3D=
"_blank" rel=3D"noopener noreferrer">Around the Block</a>, host Justin Mart=
 dives into this question and more with Michael Sonnenshein, the CEO of Gra=
yscale, the world=E2=80=99s largest digital asset manager and the firm behi=
nd the <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637196741819=
2255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZl=
uxNXtOHnqVp5Uqe614_57BnvT9O2u_k9ZSAjs8FBYfWkpD4EQU8vx6bAuDdx3TLpomqXtC21Md9=
by1Q7S5vQJA5KuqBqL14y9bF2-Gv351V6ErZtjZLM997tjgxrCvEQdsGuutLld_9bpkD5oacIFm=
_P_gHJS-Ka1ZIJzhQbgYT9o7ZeWBL9JQ54iE5bRLjrePMB5sROvbPFLGv-VwHeSCy3Qnd0imkBj=
mZxPzHxo-q5OqK2jK6nfM5v0BRnh-Pdd3GKrG-iLERJAVht9MzCrLzRVbVXIrE-eaasdqiep7xa=
EBjhH9F_dgf7LDUjcbeUuhaTUZ2Z5FS68nyACUMYpQxKtXcWE0E4YPcpPY4ErzlPC9VFSVWuH57=
Pv14WHQ2SxtCxjIFOAP4jW7SBrYe73iT-n9I%3D" target=3D"_blank" rel=3D"noopener =
noreferrer">Grayscale Bitcoin Trust</a>.</p> <div class=3D"cta_button" styl=
e=3D"margin: 24px 0px 0px; padding: 0px; width: 50%;"><!--[if mso]><table w=
idth=3D"100%" cellpadding=3D"0" cellspacing=3D"0" border=3D"0" style=3D"bor=
der-spacing:0;border-collapse:collapse;mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tr><td style=3D"padding:0;" align=3D"left"> <v:roundrect xmlns:v=
=3D"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:off=
ice:word" href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637196741819=
2255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZl=
uxNXtP-bSiEky_sqPMTGp5nA31Dw9WT8xyAvHFCq6jWER4tgkEpaLKtHE2xX0BGIgaLXpnYRXLK=
UngFwKIV85epXVCQkhXBijF4M9U92QFCtlbzwin59ZmBeoMgkppx7e-mWHQoYsuLgVoy3U69yB_=
t3Huj_vjyOYgJ39kkh9rM-p01Nw6ipcvKDOKHgG-cKq3iRn1aS0EmON4OUmHngypFBDPE0ecqBT=
wk3xngxMO7v-PZvsC5pu2KUQ7iHC4XVoM96EA62WP7Cz-PVlOx3lpIKQKG1WOSJioUsTiRMEz9W=
QU6qYEvnPm1tiHIce6jv4XPSqA_UsaWS0GG72Iy-RqJeLnzHloF461c7wL_fXE_qgeiKjkrFPD9=
gD19mJLV4F2aN-B4AbDqhgEMjINxQujSNQOt0fTOgKdyep3D5crS5nzWU" style=3D"width:3=
50pt;v-text-anchor:middle;" arcsize=3D"17%" stroke=3D"false" fillcolor=3D"#=
0052ff"> <w:anchorlock/><v:textbox inset=3D"0,0,0,0"><center style=3D"font-=
family: Helvetica Neue, Helvetica, Arial, sans-serif;"><![endif]--><a href=
=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e968971=
3&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtP-bSiEky_=
sqPMTGp5nA31Dw9WT8xyAvHFCq6jWER4tgkEpaLKtHE2xX0BGIgaLXpnYRXLKUngFwKIV85epXV=
CQkhXBijF4M9U92QFCtlbzwin59ZmBeoMgkppx7e-mWHQoYsuLgVoy3U69yB_t3Huj_vjyOYgJ3=
9kkh9rM-p01NS5KeUJnWujPkRnnwtuR7wGSVwgfqA_BrLLZxOAo8khRgFr-HBJVzpp5rmDLqJ1a=
rjK3oAhcqFpSUDe40prrhPEncpSrKjF50HzUC2NFy7RtJHzX7NLagdui1g6w9ac3n0fy0Q4bWXL=
DakaMJnBLHqo5kGZ4mYSip05YCyv5NWdoE1OxTR9LmNFPoEUDGKBtlpXuBtKJvY4EWmxIv4YY_0=
5DQrAZJs0wYuPjiAinCCb0_AHQ3gOIjjAduhBXO2WQQ" target=3D"_blank" rel=3D"noope=
ner noreferrer" style=3D"display: block; margin: 0px; line-height: 1.2; fon=
t-size: 16px; text-decoration: none; color: rgb(255, 255, 255); background-=
color: rgb(0, 82, 255); border-radius: 30px; text-align: center; padding: 1=
8px 0px;"><strong>Listen to Around the Block</strong></a><!--[if mso]></cen=
ter></v:textbox></v:roundrect></td></tr></table><![endif]--></div> <a href=
=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e968971=
3&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSE=
hhrxlCkKy5LM9l28yVnSIuJxyqnsqzohc4xB6tVtE38Ts-THi6w9WHnwjqRDpd5dx6hhORL_COp=
OjwkqJi0rEuLBLf0N8Z3bWekhrCcpq1oGch9d6WStJBXFmL5JbvZKfqDM6aDwxfSaUzG3eRV2N9=
kcBIvL6iSX3-5P0WBfoW4VWgEVxMRDqg7MTvh9t408YrW5mEjfzCC8635ENkYz7mh_-bkr92UCU=
J3ECC7tdb6O4QSL6DVqexvbMBg_G7579IR2cszpQvrH030ffzHdRx3trYsoTUQSojKPJQ6TBsHR=
TWx_XrIsaPaZOkoQ4votscOAkSk7Mmw1uhn8ylAH_7iKJXhzOwuZHNpqUwqu6K_yRSdl5zQnIev=
Q%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer"><!--[if !mso]><!-- -=
-><div class=3D"desktop_hide" style=3D"display: none; max-height: 0px; over=
flow: hidden;"><img src=3D"https://images.ctfassets.net/q5ulk4bp65r7/28RPj3=
RUwCb6Cpby298aZI/c9e876c8644086f83cfcadb4684cb11c/new_promo-mobile-earn.png=
" width=3D"100%" style=3D"display: block; width: 100%; margin: 64px 0px;"><=
/div><!--<![endif]--> <div class=3D"mobile_hide"><img src=3D"https://images=
.ctfassets.net/q5ulk4bp65r7/6I0yCrePeiDJSGjYQ71pdp/ea86db5907bfdb3766afc712=
2b5417de/new_promo-desktop-earn.png" width=3D"100%" style=3D"display: block=
; width: 100%; margin: 64px 0px;"></div> </a> <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.cloudfro=
nt.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56=
371967418192255878e9689713/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-s=
ize: 16px; letter-spacing: 0.075em;"><strong> TOKEN TRIVIA </strong></p></t=
d> </tr> </tbody> </table> <p style=3D"margin: 5px 0px 0px; font-size: 32px=
; line-height: 1.26; word-break: break-word;"><strong>What is quantitative =
tightening?</strong></p> </div> <div style=3D"margin-top: 16px;"> <table st=
yle=3D"line-height: 1.6; word-break: break-word;"> <tbody> <tr> <td style=
=3D"padding-right: 12px;"><strong>A</strong></td> <td>One of the main monet=
ary policies fueling inflation</td> </tr> <tr> <td style=3D"padding-right: =
12px; padding-top: 12px;"><strong>B</strong></td> <td style=3D"padding-top:=
 12px;">A way to inject more capital into the economy</td> </tr> <tr> <td s=
tyle=3D"padding-right: 12px; padding-top: 12px;"><strong>C</strong></td> <t=
d style=3D"padding-top: 12px;">How the Federal Reserve is reducing its bala=
nce sheet</td> </tr> <tr> <td style=3D"padding-right: 12px; padding-top: 12=
px;"><strong>D</strong></td> <td style=3D"padding-top: 12px;">When a market=
 falls more than 20%</td> </tr> </tbody> </table> </div> <p style=3D"margin=
: 16px 0px 0px; line-height: 1.6; word-break: break-word;">Find the answer =
at the end of the email.</p> <div class=3D"cta_button" 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=
=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrx=
lCkKy5LM98U3Ogu8EJrUxnNDKPWqI3utQG_Xded5zIMdwBaRAyuimRBYvKeuS6TQldgZiKskjtq=
zLc-ZDb2uGPUH4ojgyFou03j0BbN4-pe7z1WaWwAXGZ73l-rrsEuhB9-gCuVXqQu4FvEgTKWJZN=
DWLCDynisYqyWTzah78NmAZtNMCAR7H4q13r4pd-3Lrlz6o7hdR_fS0vO8A-2Lo-gSnMKOemJ7D=
_79yFA6-UeGepMLRLyqGdxu5lPFxcoOQxWCDGZMIUVdMgHSgxsr_ceSMomICCaiosgi1BdsFTvE=
GRwtFIP1D6vjvPMhU9qT8miW8jlva0AAKb2fwz9c9yZCtvmljrpi7Ut-r7Jh8ZJICLj2pRHtGge=
wEwp2liQcc-uGEtIKIATygEJFcqwt7NEPeQ3G9Kh_NEPlzZbWHfg5Ld3fWHG8uVpRvh9Lib2z5N=
HHikblN3KnQM2YrbZ02374sj_V4K" style=3D"width:350pt;v-text-anchor:middle;" a=
rcsize=3D"17%" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:te=
xtbox inset=3D"0,0,0,0"><center style=3D"font-family: Helvetica Neue, Helve=
tica, Arial, sans-serif;"><![endif]--><a href=3D"https://links.coinbase.com=
/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368b=
fd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5LM98U3Ogu8EJrUxnNDKP=
WqI3utQG_Xded5zIMdwBaRAyuimRBYvKeuS6TQldgZiKskjtqzLc-ZDb2uGPUH4ojgyFIZlz5mM=
5hW-SeWoJCq_9BWn7MsltLIhtAycYbvjy8b6ndi870nVYkdh-ssgwSe5o_otaEtc8IMCK2pXfAo=
uLXDuk6nNfkWvYaqikLmiEw-bO5prmdMtCWT3Dwe7-UDqfj2w_9_NndBC9ByQNqmgJG5NlJkzCD=
80PIL7oMTRvUYRedFpEpdL8OvCDG0KUBgK6ZDwCYqKPysC3feIXZ24Gcx1_21wVUinHZMM6e6A5=
ACRZS15EXtyPSPdmiDBSxiAd--qqX3SQ9MVYbvsVe4XGlW2l8X4YptrmsjAAM2vMpiYHjrTnVkQ=
iemPy-VMWMPWMWzINgR95fxdx4_niJzCLk-tveAVUi81RHFAuOMdrHhdzotMjRvwRG6X8eBSr_1=
Cd" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"display: block; =
margin: 0px; line-height: 1.2; font-size: 16px; text-decoration: none; colo=
r: rgb(255, 255, 255); background-color: rgb(0, 82, 255); border-radius: 30=
px; text-align: center; padding: 18px 0px;"><strong>Read up on the economy =
</strong></a><!--[if mso]></center></v:textbox></v:roundrect></td></tr></ta=
ble><![endif]--></div> <table width=3D"100%" role=3D"presentation" valign=
=3D"top" style=3D"table-layout: fixed; vertical-align: top; border-spacing:=
 0px; border-collapse: collapse; min-width: 100%; text-size-adjust: 100%;">=
 <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"top" style=3D"wo=
rd-break: break-word; vertical-align: top; min-width: 100%; text-size-adjus=
t: 100%; padding: 48px 0px;"><table border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" width=3D"100%" align=3D"center" role=3D"presentation" valign=3D"t=
op" style=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px;=
 border-collapse: collapse; border-top: 2px solid rgb(222, 224, 226); width=
: 100%;"> <tbody> <tr style=3D"vertical-align: top;"> <td valign=3D"top" st=
yle=3D"word-break: break-word; vertical-align: top; text-size-adjust: 100%;=
"><span></span></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <=
div> <table style=3D"margin: 0px; padding: 0px;"> <tbody> <tr> <td style=3D=
"margin: 0px; padding-right: 11px; vertical-align: middle;"><img src=3D"htt=
ps://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-4=
6bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width=
=3D"12" height=3D"12" style=3D"display: block; width: 12px; height: 12px;">=
</td> <td style=3D"margin: 0px; padding: 0px; vertical-align: middle;"><p s=
tyle=3D"margin: 0px; font-size: 16px; letter-spacing: 0.075em;"><strong> NO=
W TRADING ON COINBASE </strong></p></td> </tr> </tbody> </table> </div> <a =
href=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e96=
89713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtLAoZp=
DaSEhhrxlCkKy5LM_CSfdhgp38ckrKCOnTb-yNklDCzYfNFnS0Xpsnu__dnihLT1pGKVpkspSjC=
qetj5Rgk8pZECKVrlJ5_RYaniS1HUGgTtymbQHuA5KAEtP9s0KhaggFxQUlHjl1W_j9JEXCMzNp=
fZTci4UZS1jzBaoiRZdEFeXqrJ1LnguAs1DuE4H0mJAUczNDfN5OXqqGetbd_3tO4BpKQ7-R83k=
xoun5mbVp_142hkYcv-SRFFkVH2hx1TttvckauZoNm9dKD2Aw0wAO4N6UgBUsB69QrX2WDqCzxf=
NWWeoc4FzRjLy7vJ3vsc-wB1saNuh1JJn9EXQ2_8vChIiaXhxOfQkZPPsrbFvbQbmqTWUXlZfgj=
uUHTYkCh6QzdQZ8rzsQ1b7crKtU85MKjn4UvKbO8n7rUy4E" target=3D"_blank" rel=3D"n=
oopener noreferrer" style=3D"color: rgb(10, 11, 13); text-decoration: none;=
"> <table style=3D"margin: 16px 0px 0px; width: 100%;"> <tbody> <tr> <td st=
yle=3D"font-size: 32px; line-height: 1.26; word-break: break-word; vertical=
-align: middle; white-space: nowrap;"><strong>DAR</strong></td> <td style=
=3D"vertical-align: middle; padding-left: 12px;"><img src=3D"https://dynami=
c-assets.coinbase.com/11ffdcd9886c2dd9a54ce4bd1c03358068ab468874b1e73a9a46a=
e4da9f045889e0e26a84173357e21504c6836645bad3b2a6aa22deda6faad0a9e66729b33ab=
/asset_icons/7ed5c5a349733526a38f57c2f87760a0306c304ecac03def03308ed203356f=
f4.png" width=3D"26" height=3D"26" style=3D"display: block; width: 26px; he=
ight: 26px; vertical-align: middle;"></td> <td style=3D"vertical-align: mid=
dle; text-align: right; width: 100%;"><img src=3D"https://d15k2d11r6t6rl.cl=
oudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/=
3aca56371967418192255878e9689713/Newsletter%20Assets/newlistings_light.png"=
 width=3D"21" height=3D"18" style=3D"width: 21px; height: 18px; vertical-al=
ign: middle;"></td> </tr> </tbody> </table> <p style=3D"margin: 0px; line-h=
eight: 1.6;">DAR is an Ethereum token that powers Mines of Dalarnia, a play=
-to-earn game with mechanics including mining, multiplayer combat, and coll=
ecting resources. </p> </a><a href=3D"https://links.coinbase.com/a/click?_t=
=3D3aca56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_=
e=3D3N71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5LM9WWBXpgop2RfpDz4T8UMSlJgODtnc=
xnE7Y83Kdk8oEhqHC-igJYbq_91gcFMQ44_FdxrNSoe9lhfUKPwAzNj6hh2f3hvbKEWeGMBXcHb=
nKkpUoRzvZiVjrz8dmzCGKCJR5eBLz5Z0i2z4A2g1YA6V8mQeQU8wkIDy2g_3RDc-vn7dxNn8xE=
Fv3pE2ArDzQ5U4cLyKHQF4CHxw_AZuTZmEmC6fCoI9JTt7uhcXO18I8AMrgyU7Syf9VRQ8WsG53=
3AlmH8BK--cAQLyw3Hej2IwHTwmZbs8lKxe3QRoObERBgZhlTfQJdLVE0jQM8UhlM1lywczPymW=
DRcwvz6WQRmbKxBrbq_vy3xsr7i6Wq3Up79YsCT9nrtYSkNdOQSyD7Pc%3D" target=3D"_bla=
nk" rel=3D"noopener noreferrer" style=3D"color: rgb(10, 11, 13); text-decor=
ation: none;"> <table style=3D"margin: 16px 0px 0px; width: 100%;"> <tbody>=
 <tr> <td style=3D"font-size: 32px; line-height: 1.26; word-break: break-wo=
rd; vertical-align: middle; white-space: nowrap;"><strong>POND</strong></td=
> <td style=3D"vertical-align: middle; padding-left: 12px;"><img src=3D"htt=
ps://dynamic-assets.coinbase.com/09bd76a0278503501563ee613e920135f4c8e01196=
2953066d3a78eac31fa4322c58d52ea66762c3511236b46497c10e096aefce97cdac92cae7a=
ac43d0e1707/asset_icons/8a977736fc9050c407bc40b38b701e4f19dbf8f70a07cfd2016=
bb5f10ee9b53c.png" width=3D"26" height=3D"26" style=3D"display: block; widt=
h: 26px; height: 26px; vertical-align: middle;"></td> <td style=3D"vertical=
-align: middle; text-align: right; width: 100%;"><img src=3D"https://d15k2d=
11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c5=
42cff6dd6a/3aca56371967418192255878e9689713/Newsletter%20Assets/newlistings=
_light.png" width=3D"21" height=3D"18" style=3D"width: 21px; height: 18px; =
vertical-align: middle;"></td> </tr> </tbody> </table> <p style=3D"margin: =
0px; line-height: 1.6;">POND is an Ethereum token that powers Marlin, a pro=
tocol aimed at scaling peer-to-peer networks by improving communication bet=
ween nodes. </p> </a><a href=3D"https://links.coinbase.com/a/click?_t=3D3ac=
a56371967418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N=
71gRGpjQW0klZluxNXtLAoZpDaSEhhrxlCkKy5LM8Cw4Gdeld6nXfO_Sr3-ztVXevt4-9Uh5Giz=
lVYa67w5_nmhwvxc3h_ibQURxr0vdpM13YlVxJkWfGPTn2NlR9uZ_Ick4zdY28-xpb971VoKZBJ=
Qu3V8R9aYwSL3z2-8zBfqwYus2we8MobMs_25lJPXVTcR8qCGDCaYJaPWMEs2WTac-zo_nxtXbe=
RmSazsn31IqvuKKtNfUU8S8LGECO4p8eZTIvp1bDdNdIF5CnCxRKjDoBV0-t3fn9ZlVrwSSD1TU=
SeopYHiwjWkq-ltBnJlem71evR9laWtR_ans-DXi49uUV5J_iw1N5jy9Zq2H4euswwvDiKy9Uig=
kybLMCsFTrqehAWc_o1EVel2Bw5IML6XajeBxaMc8O6ePlOyIXF9PknrXnAspv8yDvDl16m" ta=
rget=3D"_blank" rel=3D"noopener noreferrer" style=3D"color: rgb(10, 11, 13)=
; text-decoration: none;"> <table style=3D"margin: 16px 0px 0px; width: 100=
%;"> <tbody> <tr> <td style=3D"font-size: 32px; line-height: 1.26; word-bre=
ak: break-word; vertical-align: middle; white-space: nowrap;"><strong>ATA</=
strong></td> <td style=3D"vertical-align: middle; padding-left: 12px;"><img=
 src=3D"https://dynamic-assets.coinbase.com/80624295686eb37e225cacf212937a7=
168d262f7705d04345e05f96e0c39bde1ed2ad0f90664bae0836dafbf77b42688eaf28fdb9a=
fb6a6a70bd8876c14ebbdd/asset_icons/47fb1677c0c009720dd3f103e7d02f178b217e9b=
d7fb956898f5896390eb7386.png" width=3D"26" height=3D"26" style=3D"display: =
block; width: 26px; height: 26px; vertical-align: middle;"></td> <td style=
=3D"vertical-align: middle; text-align: right; width: 100%;"><img src=3D"ht=
tps://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-=
46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Newsletter%20Assets=
/newlistings_light.png" width=3D"21" height=3D"18" style=3D"width: 21px; he=
ight: 18px; vertical-align: middle;"></td> </tr> </tbody> </table> <p style=
=3D"margin: 0px; line-height: 1.6;">ATA is an Ethereum token that powers Au=
tomata, a suite of privacy solutions for decentralized applications. </p> <=
/a><a href=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255=
878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNX=
tLAoZpDaSEhhrxlCkKy5LM8GI9yvNZ1i-Lk3KYgrXaHWOwvucKen9gbdJjnNzMCH4n84IM4dOcR=
a8WHj6quf3ynRtsgMqjD3pvLdie1nQgFq1Ga47QONxUD4SnswNi5d_tP_xDKG9YhJAb0KVd3VmW=
zanR38dJX-lWt28cObwNfsjiwJCjz48gpNVTLyg7-11v8EjFfPt4w456t4h2LD-fQdkgua2DQXY=
6vYm8hjp_0yEhlISwo6xGJIEwGIms_q2hlO0c5Hk0oN4IKlYaa7IzFv8kutKc_D3_nm-_I-Esek=
Eka6gSWYdXEJJr8g-hA0Fdx5xNdmNgXqH9ZOAMATW1K4e0_TfZdJuFhMe1Bvy1VU8dgMvZ2zKTM=
40PQMH3IUBHmhY2CkKz7YPhhhmY3_Z_c%3D" target=3D"_blank" rel=3D"noopener nore=
ferrer" style=3D"color: rgb(10, 11, 13); text-decoration: none;"> <table st=
yle=3D"margin: 16px 0px 0px; width: 100%;"> <tbody> <tr> <td style=3D"font-=
size: 32px; line-height: 1.26; word-break: break-word; vertical-align: midd=
le; white-space: nowrap;"><strong>FIS</strong></td> <td style=3D"vertical-a=
lign: middle; padding-left: 12px;"><img src=3D"https://dynamic-assets.coinb=
ase.com/516b6f827abfbd955ab9439606f731b727765eff41dccbf73cd05fb4843fb6d36f8=
9634ccf395e86d4b7755c2ea61bab9f73c0dcbea8f4e510ef169d563fe199/asset_icons/b=
ced2617269a8835bac6adf5ad06f1896eba07bdb139b9c224c5404e0e590104.png" width=
=3D"26" height=3D"26" style=3D"display: block; width: 26px; height: 26px; v=
ertical-align: middle;"></td> <td style=3D"vertical-align: middle; text-ali=
gn: right; width: 100%;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/=
public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca563719674=
18192255878e9689713/Newsletter%20Assets/newlistings_light.png" width=3D"21"=
 height=3D"18" style=3D"width: 21px; height: 18px; vertical-align: middle;"=
></td> </tr> </tbody> </table> <p style=3D"margin: 0px; line-height: 1.6;">=
FIS is an Ethereum token that powers StaFi, a cross-chain protocol for trad=
ing staked assets as derivatives (also called =E2=80=9Cliquid staking=E2=80=
=9D). </p> </a> <table width=3D"100%" role=3D"presentation" valign=3D"top" =
style=3D"table-layout: fixed; vertical-align: top; border-spacing: 0px; bor=
der-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"center" role=3D"presentation" valign=3D"top" 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>C</strong></td> <td>How the Federal Reserve is reducing its balance=
 sheet</td> </tr> </tbody> </table> <table style=3D"margin: 48px 0px 0px;">=
 <tbody> <tr> <td style=3D"text-align: left;"><img src=3D"https://d15k2d11r=
6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542c=
ff6dd6a/3aca56371967418192255878e9689713/Rebrand%20Assets/coinbase_footer_w=
ordmark.png" alt=3D"Coinbase" height=3D"26" style=3D"display: block; height=
: 26px; margin-bottom: 24px;"></td> </tr> <tr> <td><a href=3D"https://links=
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1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQW0klZluxNXtH8DPQOufwIuQ2egLfcZipFbBJM=
1RFO0VRYVBwbJ7zOxeOITNotc235nfwe9K1mXnAZJhxZVy8EPs2aDMeZ00tk8KS6QnL2i_qVqdA=
ekN0j5LtGCvhoA5HL6OP4mmbi7_L3Qm8kAYBRPcPndbXsORmHpBG4cvoQDPeaGDYkVkPrw5hdSB=
8MhhmoO79C0kYEwjmVW6s9gfw8Zi1zgQGqYfghfwjcixsu3BYgvoXlnVQMVjnD_LdIZiXV-rKHp=
e1y_B9-o2xKfYLFyGN8oLihEWaaK5NbV6RQEvrn5hoi9kuMvY6AMZkqfYkh6-gQ8FO1BmK9KLbn=
h6QIhswhgRc-REajQXr5QIrazX7sIqoPAY6fxvTaPRwDzCZKDAUbryztX0dGXcgRd89y-BPd-te=
UxI9gyx7vvGo-3HhFIftIxJb1q" title=3D"coinbase ios app" target=3D"_blank" re=
l=3D"noopener noreferrer"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net=
/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967=
418192255878e9689713/Icons/app_apple.png" alt=3D"Download on iOS App store"=
 height=3D"46" style=3D"display: block; height: 46px; margin-right: 8px;"><=
/a></td> <td><a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637196=
7418192255878e9689713&_m=3D261529ea9e1f45cbb07368bfd4e8011f&_e=3D3N71gRGpjQ=
W0klZluxNXtHQjBIIELQLebGB6vAY3Pb7tQXL-LuFwB2kdfVvFOj9h5208z4Nn3PW2z7mEPL-bF=
IqiXs4xA8slIP1l891_vKo7aGlOgiZ6-bKnAnjvmUsIrK_X2mD5JJnHQLcKoQ4KhHN96MF_lvd6=
dWT3AnXAV3je0EorCxD7gxiEIfvUUzgGFDSSBQ_45mmB2DSTE3_3cBYHi7XdVAOuzD9RAveut7x=
G-o5k-G3n6gXXv4Oy4qlewYCIxIFViaXNucBYxLtzqML9e0s_qdPbUuyvYR3DjL-kQ5ncJEK4vl=
kwyIP-x3wamd16HnmcjC7mvjj0mubWXE44Esf4Wdefbd1-spgur1OGv9tuJAPeI-kQ-2HkJdeGh=
EcrN94-lnh2JwwcsbJnVU6cA3mFpBDG4-Q_X6-nRYTGJo2ZcbuBWUnHo0xB-UNx" title=3D"c=
oinbase android app" target=3D"_blank" rel=3D"noopener noreferrer"><img src=
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-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Icons/app_goo=
gle.png" alt=3D"Download on Google Play" height=3D"46" style=3D"display: bl=
ock; height: 46px;"></a></td> </tr> </tbody> </table> <div style=3D"margin-=
top: 24px;"> <p style=3D"font-size: 12px; line-height: 1.8; word-break: bre=
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