Goerli Going Live

Good morning. The Merge is almost upon us, Ripple wants to buy Celsius' assets, and Mailchimp suspends crypto newsletters from their platform. All that and more today!

Programming Note: the CT5 will be off starting Friday, August 12th and returning Monday, August 22nd

Market Update (as of 7:30am ET):

My asks from you:
- Forward to your friends, family, and anyone that would be interested (check the Top Sharers leaderboard at the bottom of this email to see where you stand!)
- If you're new, hit that pink subscribe button just below this section
- Send any and all feedback to jmaxxyoungii@gmail.com
- Add us to your Contact List so this newsletter doesn't end up in your spam folder

Top 5:

1. Goerli testnet is Ethereum’s final boss before the Merge. The final countdown to the Merge is about to begin. The switch to proof-of-stake on the Goerli testnet will occur before the end of the week (Editor's note: the testnet Merge has completed successfully as of this morning). If the transition to proof-of-stake is successful on the Goerli testnet then the mainnet Merge will likely go forward in mid-September. According to Vance Spencer, co-founder at Framework Ventures, "there’s really expected to be no difficulties with this one." Knock on wood Vance, knock on wood.

2. Coinbase under SEC scrutiny over its crypto-staking programs. Included as part of disclosures in the company's latest 10Q filing was confirmation that the company has received "investigative subpoenas" in relation to its token listing processes, staking programs, and other yield-generating products. It's not clear if the SEC scrutiny will turn into a formal investigation. Coinbase also stated in the filing that they do not believe the investigations will have a material adverse effect on the company's financial condition.

3. Ripple Labs weighs buying crypto lender Celsius’ assets. The San Francisco company behind the Ripple payment protocol has expressed interest in acquiring insolvent crypto lender Celsius Network’s assets. A spokesperson for the company also noted that the company is "actively looking for M&A opportunities to strategically scale” and grow during the market downturn. Overtures to acquire Celsius' assets have also been made by crypto lender Nexo and FTX. Any acquisition of assets by Ripple may be complicated by their ongoing fight with the SEC over allegations that the company's XRP token sale violated federal securities law.

4. Mailchimp resumes crackdown on crypto newsletters including Messari, Edge. Email marketing platform Mailchimp has suspended several accounts of crypto content creators including crypto wallet Edge, crypto intelligence firm Messari, and crypto news provider Decrypt. Decrypt, the publisher of the full article, has been using Mailchimp for four years to distribute their newsletter. According to Messari's marketing lead Jared Ronis no warning was given and they are no longer to access their subscriber list (they do maintain a  backup list). Crypto content providers being de-platformed by Mailchimp has apparently been going on for several weeks now.

5. Max Bidding - by Arthur Hayes. It's another long one from @CryptoHayes. This time Mr. Hayes breaks down his thoughts on the Merge, the Federal Reserve lowering interest rates, and impacts to ETH price. The four categories (below) are given weighted probabilities based on his expectations and an end-game price target is provided. Not financial advice, but it is a recommended read. Enjoy! And remember the CT5 will be off tomorrow and next week!

• Scenario 1: Fed Pivot + Successful Ethereum Merge
• Scenario 2: No Fed Pivot + Successful Ethereum Merge
• Scenario 3: No Fed Pivot + Unsuccessful Ethereum Merge
• Scenario 4: Fed Pivot + Unsuccessful Ethereum Merge

Updates and other stories:
- Crypto exchange Bitfinex may be facing criminal investigation in US...Read More
- CFTC proposes new crypto reporting rule for large hedge funds...Read More
- Corn farmers hedge their crops with futures. This Solana DEX wants validators to follow suit...Read More

Top Sharers of the Crypto Top 5:
1. Donna Y. - Nashville, TN
2. Jake Y. - Greenville, SC
3. Forrest H. - Evansville, IN

External Resources:
1. Cryptopedia from Gemini - if you see a word, acronym, or phrase in this newsletter that you don't understand, there's a good chance you can find an explanation here
2. Crypto Explainer+ - intro level courses on Bitcoin, Ethereum, decentralized finance, NFTs, and more
3. Crypto Jobs! - looking for a new job? Check out this page from Anthony Pompliano with hundreds, if not thousands of listings

Disclaimer: The information contained in this newsletter shall not be understood or construed as financial advice. I am not an attorney, accountant, or financial advisor, nor am I holding myself out to be, and the information provided is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.