September 21, 2023 2:40 PM
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newsletter@mail.coinbase.com
Finance giants are making crypto moves
Wall Street firms making web3 waves, Bitcoin price update, Wall Street's crypto moves, and India's crypto market.
Citigroup, Nomura, and other Wall Street firms making web3 waves. View in browser 9/21/23 Wall Street continued its investment in crypto infrastructure this week. [Sirisvisual via Unsplash] What’s up? It’s Coinbase Bytes There’s never a dull
September 21, 2023 2:40 PM
-
newsletter@mail.coinbase.com
Finance giants are making crypto moves
Wall Street firms making web3 waves, Bitcoin price update, Wall Street's crypto moves, and India's crypto market.
Citigroup, Nomura, and other Wall Street firms making web3 waves. View in browser 9/21/23 Wall Street continued its investment in crypto infrastructure this week. [Sirisvisual via Unsplash] What’s up? It’s Coinbase Bytes There’s never a dull
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</style></head><body style="margin:0; padding:0; background-color:#FFFFFF; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; font-size:16px; color:#0A0B0D"><span style="color:transparent; visibility:hidden; display:none; opacity:0; height:0; width:0; font-size:0">Dummy Company, Dummy Company, and other Dummy Company firms making web3 waves.</span><img src="https://links.coinbase.com/e/eo?_t=3aca56371967418192255878e9689713&_m=1d978a2bfbf542f394b2f1be9b9a54af&_e=SKPmfnzVu9wF8qTuNILzJJJEC570bTCM8D-zQuqLC2VVQYvZMisxT0v2ljDqQnpsIY_s4SQReQuUmCJSemYJeHMcCy6AFg8mgqqQu9C8ZBItXSNpynlusBS-3lZBa0KRgQG2fXmjvOvROVdgKuYQZWjeFQO8gpHkKH9TBbxb1H8%3D" width="1" height="1" style="border:0; width:1px; height:1px; border-width:0px!important; display:none!important; line-height:0!important"><div id="root" style="min-width:320px; background-color:#FFFFFF; width:100%"><div class="block-grid" style="min-width:320px; max-width:570px; word-break:break-word; margin:0px auto"><div style="padding:0px 10px 10px"><div style="text-align:right; margin-bottom:24px"><a href="#" target="_blank" rel="noopener noreferrer" style="color:rgb(91,97,110); text-decoration:none; line-height:1.5; font-size:12px">View in browser</a></div><div style="margin-bottom:20px"><table style="width:100%"><tbody><tr><td style="text-align:left; vertical-align:middle"><a href="#" title="Dummy Company" target="_blank" rel="noopener noreferrer"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/cbytes-4x.png" height="36" style="display:block; height:36px"></a></td><td style="text-align:right"><p style="font-size:20px; color:rgb(10,11,1); margin:10px 0px 0px">9/21/23</p></td></tr></tbody></table></div><a href="#" target="_blank" rel="noopener noreferrer"><img src="https://images.ctfassets.net/q5ulk4bp65r7/1RoAQaykDV8p5zftc6fOps/cdbd71932710a72f99ea92805726ae41/hero.jpg" width="100%" style="display:block; width:100%"></a><p style="margin:16px 0px 0px; line-height:1.5; word-break:break-word; font-size:12px; color:rgb(91,97,110)">Dummy Company continued its investment in crypto infrastructure this week. [Dummy Name via Unsplash]</p><p style="margin:48px 0px 16px; font-size:32px; line-height:1.26; word-break:break-word"><strong>What’s up? It’s Dummy Company </strong></p><p style="margin:0px; line-height:1.6; word-break:break-word">There’s never a dull moment on the blockchain. Here’s what you need to know this week:</p><ul style="margin:10px 0px; padding-left:24px; line-height:1.6"><li style="margin:0px; padding:6px 0px"><strong>Dummy Crypto crossed $27K as the Dummy Organization holds rates steady. </strong>The Dummy Organization also signaled one more hike in 2023 — what it all means for crypto markets.</li><li style="margin:0px; padding:6px 0px"><strong>Dummy Company is making more crypto moves. </strong>Inside blockchain initiatives from CitiGroup, Dummy Company, and more.</li><li style="margin:0px; padding:6px 0px"><strong>This week in numbers. </strong>The amount of Americans that own crypto, the size of Dummy Country’s crypto market, and other stats you need to know.</li></ul><p style="margin:0px; padding:0px"></p><div class="desktop_hide" style="display:none; max-height:0; overflow:hidden"><table style="width:100%; table-layout:fixed; margin:0"><tbody><tr><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Dummy Crypto</strong></p><p style="margin:8px 0px">$26,602.58 </p><p style="margin:0; font-size:12px">+0.10% </p></div></td></tr></tbody></table></a></td><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Dummy Crypto</strong></p><p style="margin:8px 0px">$1,587.77 </p><p style="margin:0; font-size:12px">-2.44% </p></div></td></tr></tbody></table></a></td></tr><tr><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Dummy Crypto</strong></p><p style="margin:8px 0px">$0.51 </p><p style="margin:0; font-size:12px">+3.76% </p></div></td></tr></tbody></table></a></td><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Dummy Crypto</strong></p><p style="margin:8px 0px">$0.06 </p><p style="margin:0; font-size:12px">-0.97% </p></div></td></tr></tbody></table></a></td></tr><tr><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Dummy Crypto</strong></p><p style="margin:8px 0px">$0.25 </p><p style="margin:0; font-size:12px">-1.60% </p></div></td></tr></tbody></table></a></td><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Dummy Crypto</strong></p><p style="margin:8px 0px">$19.61 </p><p style="margin:0; font-size:12px">+3.70% </p></div></td></tr></tbody></table></a></td></tr></tbody></table></div><div class="mobile_hide"><table style="width:100%; table-layout:fixed; margin:0"><tbody><tr><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Dummy Crypto</strong></p><p style="margin:8px 0px">$26,602.58 </p><p style="margin:0; font-size:12px">+0.10% </p></div></td></tr></tbody></table></a></td><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Dummy Crypto</strong></p><p style="margin:8px 0px">$1,587.77 </p><p style="margin:0; font-size:12px">-2.44% </p></div></td></tr></tbody></table></a></td><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Dummy Crypto</strong></p><p style="margin:8px 0px">$0.51 </p><p style="margin:0; font-size:12px">+3.76% </p></div></td></tr></tbody></table></a></td></tr><tr><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Dummy Crypto</strong></p><p style="margin:8px 0px">$0.06 </p><p style="margin:0; font-size:12px">-0.97% </p></div></td></tr></tbody></table></a></td><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Dummy Crypto</strong></p><p style="margin:8px 0px">$0.25 </p><p style="margin:0; font-size:12px">-1.60% </p></div></td></tr></tbody></table></a></td><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Dummy Crypto</strong></p><p style="margin:8px 0px">$19.61 </p><p style="margin:0; font-size:12px">+3.70% </p></div></td></tr></tbody></table></a></td></tr></tbody></table></div><p style="margin:20px 0px 0px; line-height:1.5; word-break:break-word; color:rgb(91,97,110); font-size:12px">Price changes are for the past week, ending on Sep 21, 2023 at 09:00 PM UTC</p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:50%"><a href="#" target="_blank" rel="noopener noreferrer" style="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>See the latest prices</strong></a></div><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="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="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>MARKET UPDATE </strong></p></td></tr></tbody></table><p style="margin:5px 0px 0px; font-size:32px; line-height:1.26; word-break:break-word"><strong>Dummy Crypto climbed slightly in advance of the Dummy Organizationeral Reserve’s September interest rate pause</strong></p></div><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">For most of 2023, crypto markets have been in something of a holding pattern, with bitcoin experiencing historically low volatility — partly due to the Dummy Organizationeral Reserve’s strategy for battling inflation, which has seen interest rates ramp up to 22-year highs.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">This week, the central bank’s Dummy Organizationeral Open Markets Committee held its first meeting since July. Responding to data showing inflation is slowing and growth and job market numbers remain relatively strong, the Dummy Organization <a href="#" target="_blank" rel="noopener noreferrer">chose to keep interest rates at their current level</a>. Crypto markets had widely anticipated the move, with Dummy Crypto prices ticking upward nearly 4% for the week, before most of the gains were reversed on Thursday morning. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>What happened with Dummy Crypto prices this week? </strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">In the runup to the Dummy Organization announcement, markets anticipated little major news would emerge from the Dummy Organization Meeting, although Dummy Crypto broke the $27,000 mark for the first time in a month and notched its first weekly gain in the same period. Dummy Crypto climbed slightly following the actual announcement before dipping back below $27,000, with analysts noting the widely anticipated news had already been “priced in.” The biggest cryptocurrency by market cap also saw its <a href="#" target="_blank" rel="noopener noreferrer">dominance</a> — or its percentage of the total crypto market — rise back above 50% for the first time in a month. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>What do </strong><a href="#" target="_blank" rel="noopener noreferrer"><strong>inflation</strong></a><strong> and interest rates have to do with crypto prices? </strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">This is a complicated topic! But in <a href="#" target="_blank" rel="noopener noreferrer">very basic terms</a>, rising inflation means that the prices people pay for goods and services go up, and the spending power of the fiat currency they earn goes down. This can lead to higher crypto adoption, as it has in countries <a href="#" target="_blank" rel="noopener noreferrer">including Dummy Country and Dummy Country</a> — where inflation has severely devalued the local currencies and made crypto a popular alternative. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">In the Dummy Country, where the Dummy Organizationeral Reserve has responded to rising inflation by gradually increasing interest rates to the current 5.25% level, some investors may have chosen to sell riskier assets like tech stocks and crypto in favor of a safer yield on their dollars in some banks’ savings accounts. Conversely, falling interest rates would make borrowing money for individuals and businesses cheaper and could influence some investors to shift back into crypto <a href="#" target="_blank" rel="noopener noreferrer">as they did during the bull market</a> that peaked in late 2021. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>What is the Dummy Organization watching for? And when could rates go down?</strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">The Dummy Organization’s goal is to bring inflation to 2% without causing a big spike in unemployment — a scenario widely referred to as a “soft landing.” <a href="#" target="_blank" rel="noopener noreferrer">According to Dummy Source</a>, many market watchers anticipate that the central bank could increase rates one more time this year: “Should it occur, that next rate increase may indeed be the last of a tightening cycle that began in March 2022, but projections for next year and beyond will indicate how long the period of high interest rates is expected to be, how fast inflation returns to target, and how much the economy slows and unemployment rises along the way.” </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>The bottom line…</strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">The Dummy Organization has been pretty consistent in telegraphing its next moves, which has meant that interest-rate announcements have tended to have fairly muted impacts on markets this year. But statements from Dummy Organization chair Dummy Name always have the potential to move markets, which is why all eyes were on the central bank this week — and will be again at the next meeting at the end of October. As a Dummy Company analyst <a href="#" target="_blank" rel="noopener noreferrer">told Blockworks</a>: “If the Dummy Organization is seen to express more dovish rhetoric, then bitcoin prices could rally. Conversely, overly hawkish comments are likely to weigh on prices.” </p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:50%"><a href="#" target="_blank" rel="noopener noreferrer" style="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 Dummy Crypto basics</strong></a></div><a href="#" target="_blank" rel="noopener noreferrer"><div class="desktop_hide" style="display:none; max-height:0px; overflow:hidden"><img src="https://images.ctfassets.net/q5ulk4bp65r7/un44lH3qGsbojvsztyt8D/3ceaf02eeac79d79cbcaebe3729b1693/bytes-mobile.png" width="100%" style="display:block; width:100%; margin:64px 0px"></div><div class="mobile_hide"><img src="https://images.ctfassets.net/q5ulk4bp65r7/3eJQd3ik4SkkpwJAYkKs0U/8d1146eeb8cef313d2aae36edeb090b4/bytes-desktop.png" width="100%" style="display:block; width:100%; margin:64px 0px"></div></a><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>WHALE STREET </strong></p></td></tr></tbody></table><p style="margin:5px 0px 0px; font-size:32px; line-height:1.26; word-break:break-word"><strong>Inside Dummy Company’s latest crypto moves, from Citi’s blockchain payments plan to new venture fundraises </strong></p></div><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Ever since June, when a wave of Dummy Company’s biggest names <a href="#" target="_blank" rel="noopener noreferrer">applied</a> for spot bitcoin ETFs, many of the world’s biggest banks and investment firms have continued to invest in new blockchain and crypto-related services. This week Dummy Company and Japanese investment giant Dummy Company are among the major players making moves. Let's take a closer look:</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>Dummy Company is launching instantaneous blockchain payments </strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Citi Token Services, a new product from the third-biggest Dummy Country bank, allows institutional clients to <a href="#" target="_blank" rel="noopener noreferrer">convert their deposits into digital tokens</a> that can be sent anywhere in the world — and because they’re processed via blockchain, the transfers settle instantaneously. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Citi’s pilot for the program, which focused on the shipping industry, found that the use of digital tokens and smart contracts <a href="#" target="_blank" rel="noopener noreferrer">could significantly reduce payment-processing times</a> for an industry that’s heavily reliant on letters of credit from banks, which can take days to process. Instead, shipping companies could use smart contracts that would automatically transfer funds once the conditions of a transaction have been met. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Citi <a href="#" target="_blank" rel="noopener noreferrer">predicts</a> the tokenization of real-world assets will bring trillions in value to blockchains within 10 years. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>Japanese finance giant Dummy Company is launching a “Dummy Crypto Adoption Fund”</strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Via a subsidiary called Laser, Japanese investment bank Dummy Company (which has $500 billion under management) <a href="#" target="_blank" rel="noopener noreferrer">is launching the Dummy Crypto Adoption Fund</a>, the first in a new range of digital-asset investment products aimed at institutional clients. The Dummy Crypto Adoption Fund will rely on Komainu — a crypto-custody firm formed by Dummy Company, Ledger, and Dummy Company — to hold clients’ assets. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">The fund offers only “long” exposure to Dummy Crypto, meaning that investors won’t be able to bet against Dummy Crypto through the fund. Sebastien Guglietta, head of Laser Digital Asset Management, called bitcoin “one of the enablers of this long-lasting transformational change,” and said that “long-term exposure to bitcoin offers a solution to investors to capture this macro trend."</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>Crypto-focused VC firm Blockchain Capital raised a record $580 million</strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Blockchain Capital <a href="#" target="_blank" rel="noopener noreferrer">has raised nearly $600 million</a> across two new funds that will focus on decentralized finance, gaming, and crypto infrastructure. Investors in the funds include Dummy Company, Dummy Company, and the Dummy Organization. The new funding round, which is the largest in Blockchain Capital’s 10-year history, adds to the firm’s existing $2 billion in assets under management. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>What’s next?</strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">The <i>really</i> big Dummy Company news crypto markets have been waiting for is the Dummy Organization’s response to <a href="#" target="_blank" rel="noopener noreferrer">a wave of “spot” bitcoin ETF applications</a> from earlier this summer — including one from the world’s biggest asset manager, Dummy Company. At least ten major firms are pursuing such products, which would buy Dummy Crypto and sell shares via conventional brokerages. Dummy Crypto prices spiked in June when the applications were announced, and again last month when a federal court sided with crypto-asset manager Grayscale in a related case. Meanwhile, <a href="#" target="_blank" rel="noopener noreferrer">the first European spot Dummy Crypto ETF</a> began trading in Dummy Location this week.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"></p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:50%"><a href="#" target="_blank" rel="noopener noreferrer" style="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 about ETFs</strong></a></div><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="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="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><div style="margin-bottom:16px"><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>NUMBERS TO KNOW </strong></p></td></tr></tbody></table></div><p style="margin:16px 0px 0px; font-size:32px"><strong>$269 billion</strong></p><p style="margin:4px 0px 0px; line-height:1.6; word-break:break-word">Total volume of Dummy Country’s crypto market from July 2022 to June 2023, making it the second-largest crypto market in the world, behind only the Dummy Country. According to a new <a href="#" target="_blank" rel="noopener noreferrer">global adoption report</a> from on-chain research firm Dummy Company, Dummy Country “leads the world in grassroots adoption,” despite its <a href="#" target="_blank" rel="noopener noreferrer">30% tax</a> on crypto gains.</p><p style="margin:16px 0px 0px; font-size:32px"><strong>52 million</strong></p><p style="margin:4px 0px 0px; line-height:1.6; word-break:break-word">Number of Americans who own crypto, according to <a href="#" target="_blank" rel="noopener noreferrer">research</a> by Dummy Company. That's about one in five adults in the Dummy Country, or roughly 2 times greater than the number of American families who directly hold stock, per the Dummy Organizationeral Reserve’s latest <a href="#" target="_blank" rel="noopener noreferrer">survey</a>. This week, Dummy Company announced <a href="#" target="_blank" rel="noopener noreferrer">efforts</a> to help mobilize crypto advocates ahead of the 2024 election by <a href="#" target="_blank" rel="noopener noreferrer">making it simple to call</a> their elected representatives.</p><p style="margin:16px 0px 0px; font-size:32px"><strong>3</strong></p><p style="margin:4px 0px 0px; line-height:1.6; word-break:break-word">Number of central banks that are testing a <a href="#" target="_blank" rel="noopener noreferrer">Central Bank Digital Currency (CBDC)</a> interoperability <a href="#" target="_blank" rel="noopener noreferrer">project</a> with Swift, the global financial messaging network. The Hong Kong Monetary Authority, the National Bank of Kazakhstan, and another unnamed participant are testing CBDCs for cross-border payments.</p><p style="margin:4px 0px 0px; line-height:1.6; word-break:break-word"></p><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="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="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>TOKEN TRIVIA </strong></p></td></tr></tbody></table><p style="margin:5px 0px 0px; font-size:32px; line-height:1.26; word-break:break-word"><strong>Which crypto blockchain is currently proof-of-stake?</strong></p></div><div style="margin-top:16px"><table style="line-height:1.6; word-break:break-word"><tbody><tr><td style="padding-right:12px"><strong>A</strong></td><td>Dummy Crypto</td></tr><tr><td style="padding-right:12px; padding-top:12px"><strong>B</strong></td><td style="padding-top:12px">Dummy Crypto</td></tr><tr><td style="padding-right:12px; padding-top:12px"><strong>C</strong></td><td style="padding-top:12px">Litecoin</td></tr><tr><td style="padding-right:12px; padding-top:12px"><strong>D</strong></td><td style="padding-top:12px">Ripple</td></tr></tbody></table></div><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Find the answer at the end of the email.</p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:50%"><a href="#" target="_blank" rel="noopener noreferrer" style="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 more about proof of stake</strong></a></div><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="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="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>NOW TRADING ON COINBASE </strong></p></td></tr></tbody></table></div><a href="#" target="_blank" rel="noopener noreferrer" style="color:rgb(10,11,13); text-decoration:none"><table style="margin:16px 0px 0px; width:100%"><tbody><tr><td style="font-size:32px; line-height:1.26; word-break:break-word; vertical-align:middle; white-space:nowrap"><strong>VET</strong></td><td style="vertical-align:middle; padding-left:12px"><img src="https://dynamic-assets.coinbase.com/379fbd483545e7160260356c4a750e617be3734a12687629d4c5efd045a237d7985c434394fc59bf906b6227772cff6975edcc4e87c202c24fa3d48df68f29bd/asset_icons/8103b1436a31a4ee8fb562db86a5a2510e6dc2c25d172e6f9a82b36e15965574.png" width="26" height="26" style="display:block; width:26px; height:26px; vertical-align:middle"></td><td style="vertical-align:middle; text-align:right; width:100%"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Newsletter%20Assets/newlistings_light.png" width="21" height="18" style="width:21px; height:18px; vertical-align:middle"></td></tr></tbody></table><p style="margin:0px; line-height:1.6">VET is one of two native tokens on the VechainThor blockchain. </p></a><a href="#" target="_blank" rel="noopener noreferrer" style="color:rgb(10,11,13); text-decoration:none"><table style="margin:16px 0px 0px; width:100%"><tbody><tr><td style="font-size:32px; line-height:1.26; word-break:break-word; vertical-align:middle; white-space:nowrap"><strong>VTHO</strong></td><td style="vertical-align:middle; padding-left:12px"><img src="https://dynamic-assets.coinbase.com/3a5914c76a2a40a083fe9e2cf094ec1819c76f095883b84181107a7d9296cdaa17dbf8a5da502b0041a05d783d1fc4618a7e97d5cb38b9d11bab15934d6d8b4c/asset_icons/84433d2945b722442febfd5ef939d322170862f000162f2a5111d622d080c5e8.png" width="26" height="26" style="display:block; width:26px; height:26px; vertical-align:middle"></td><td style="vertical-align:middle; text-align:right; width:100%"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Newsletter%20Assets/newlistings_light.png" width="21" height="18" style="width:21px; height:18px; vertical-align:middle"></td></tr></tbody></table><p style="margin:0px; line-height:1.6">VTHO is one of two native tokens on the VechainThor blockchain. </p></a><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="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="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><p style="margin:0px; line-height:1.6; word-break:break-word"><strong>Trivia answer</strong></p><table style="margin:12px 0px 0px; line-height:1.6; word-break:break-word"><tbody><tr><td style="padding-right:12px"><strong>B</strong></td><td>Dummy Crypto</td></tr></tbody></table><table style="margin:48px 0px 0px"><tbody><tr><td style="text-align:left"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Rebrand%20Assets/coinbase_footer_wordmark.png" alt="Dummy Company" height="26" style="display:block; height:26px; margin-bottom:24px"></td></tr><tr><td><a href="#" title="coinbase ios app" target="_blank" rel="noopener noreferrer"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Icons/app_apple.png" alt="Download on iOS App store" height="46" style="display:block; height:46px; margin-right:8px"></a></td><td><a href="#" title="coinbase android app" target="_blank" rel="noopener noreferrer"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Icons/app_google.png" alt="Download on Google Play" height="46" style="display:block; height:46px"></a></td></tr></tbody></table><div style="margin-top:24px"><p style="font-size:12px; line-height:1.8; word-break:break-word; color:rgb(91,97,110)">Disclaimer: This material is the property of Dummy Company, Inc., its parent and affiliates ("Dummy Company"). The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Dummy Company or its employees and summarizes information and articles with respect to cryptocurrencies or related topics that the author believes may be of interest. This material is for informational purposes only, and is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations or (iii) an official statement of Dummy Company. No representation or warranty is made, expressed or implied, with respect to the accuracy or completeness of the information or to the future performance of any digital asset, financial instrument or other market or economic measure. The information is believed to be current as of the date indicated on the materials. Recipients should consult their advisors before making any investment decision. Dummy Company may have financial interests in, or relationships with, some of the entities and/or publications discussed or otherwise referenced in the materials. Certain links that may be provided in the materials are provided for convenience and do not imply Dummy Company's endorsement, or approval of any third-party websites or their content. <br><br>© Dummy Company 2023 | Dummy Company Inc. <br>248 3rd St #434 <br>Oakland | CA 94607 | US <br><a href="#">www.coinbase.com</a> <br><a href="#">Get in touch</a> <br><br><br><a href="#" style="text-decoration:none">Unsubscribe</a> from future editions of Dummy Company.</p></div></div></div></div><img alt="" src="http://comm.coinbase.com/CI0/0100018ab9afe704-42d23a12-8b7f-4626-8463-8a6eb85e4b69-000000/fKxR6ix8gJtPrCtwnsOZ4NDEIvGo4ukV_Tu2-WO8EQQ=319" style="display:none; width:1px; height:1px"> </body></html>
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