"This world of ours... must avoid becoming a community of dreadful fear and hate,
and be, instead, a proud confederation of mutual trust and respect."
- Dwight D. Eisenhower

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Welcome to Thursday Folks! Bitcoin continues to trade sideways right at $20K, very reminiscent to $6K back in the day before plunging to $3K; fear is definitely in the air. However, I'd encourage you to fear not - remain patient - good days are coming.

This bear market has made it difficult for those companies that put $BTC on their books. Even though Meitu shows a impairment loss of $43MM doesn't mean they've lost it; only once they sell - so keep HODLing! Why? Because Bitcoin will bounce back, if not in September soon - it will not stay down forever. 

Even though it's down 14% in August, September is normally a very bearish month, and Bitcoin futures volume hit a 21-month low - still 62% of all Bitcoin addresses did not sell. In addition, Arthur Hayes believes the Fed could trigger a rally.

Speaking of rallies, both Michael van de Poppe and Rekt believe there could be a rally in $ETH. The upcoming Ethereum Merge might create a hefty tax bill for you and NFT Market OpenSea said any Ethereum forks won't be supported. The Cardano hard fork moves closer to being ready as well. 

The CeFi Contagion still lingers on as Celsius custodial service users file petition to get their funds back. Indonesia is planning to setup an exchange and California lawmakers passed a bill regulating Crypto firms.  

JUST IN: Billionaire Carlyle Co-Founder David Rubenstein Discloses Crypto Investment (UToday | Cointelegraph)

TRENDING

• Celsius Network to Return Only 22% of Customer Funds (EWN | Cointelegraph | TB | Bitcoinist | BIC | EWN | Coindesk | Coindesk | TDH)
• Babylon Finance to shutter protocol after losing $3.4 million in Rari hack (TB | Decrypt | Bitcoinist | BIC | Coindesk)
• Robinhood enables Cardano (ADA) trading for its 23 million users (Finbold | BIC | TDH | Cryptoglobe)

CRYPTO MARKET 

• Tech giant Meitu loses over $43M of its crypto investment in bear market (Cointelegraph)
• Crypto Explosion: 75% of Total Market Cap Dominated By Only 5 Coins (Bitcoinist)

BITCOIN & ETHEREUM

• 62% of all Bitcoin addresses did not sell any BTC for a year or more despite ‘crypto winter’ (Finbold | Cryptoglobe | Cointelegraph)
• Bitcoin price dips 14% in August as trader warns of ‘macro drop down’ (Cointelegraph | Decrypt)
• Will Bitcoin Bounce Back in September After Closing a Bearish Engulfing August? (BIC)
• Bitcoin futures volume hit a 21-month low in August, as ether volume surged (TB)
• US dollar smashes yet another 20-year high as Bitcoin price sags 2.7% (Cointelegraph)
• Bitcoin Data: Long-Term Holders Are Currently Putting More Selling Pressure Than Short-Term Holders (Bitcoinist)
• Bitcoin Key Whale Addresses Skyrocket To 6-Month High Despite Bearish Sentiments (ZyCrypto)
• Bitcoin target level for sustained rally identified following US jobs data (Finbold)
• Ethereum Whale Abruptly Moves Over $102,000,000 in ETH (TDH)

THE MERGE

• Ethereum Merge and the hefty tax bill you could be in for (Cointelegraph)
• Any Ethereum Forks ‘Won’t Be Supported’, Says NFT Market OpenSea Ahead of Merge (Decrypt)
• The Merge: Everything you need to know about Ethereum's big upgrade (TB)
• $ETH: Crypto Investment Director Explains How Traders Are ‘Positioning for the Merge’ (Cryptoglobe)

CARDANO VASIL HARD FORK

• Vasil Upgrade Readiness, Staking on Binance.US, Aada Finance’s Sep 13 Launch (Cryptoglobe)
• Cardano: Here's How Far Upcoming Vasil Update Has Progressed, per IOG (UToday | NewsBTC)

ALTCOINS

• Crypto community makes bullish Binance Coin (BNB) prediction for the end of September (Finbold)
• 1,000,000,000 XRP Unlocked by Ripple as Whales Shift 404,000,000 Tokens (UToday)
• XRP Is in Serious Trouble After Losing Important Support: Crypto Market Review, September 1 (UToday)
• This Is Why Cardano Performed Best Among Top 10 Cryptocurrencies in Last 7 Days (UToday)

ADOPTION

• Lightning Speed: 5 Ways To Make Money/ Earn Sats Using The Lightning Network (NewsBTC)

PARTNERSHIPS

• Ripple Partners With Web3 Design Lab To Promote Use of XRP Ledger (XRPL) in Japan (Cryptoglobe)

ANALYST'S CORNER

Positive

• Michael van de Poppe: Top Crypto Strategist Predicts Rally for Ethereum (ETH) (TDH)
• Arthur Hayes: Crypto Capitalist Says Fed Could Trigger Bitcoin (BTC) Rallies Despite Hawkish Stance (TDH)
• Santiment: Ethereum (ETH) Flashing Historically Bullish Signal Amid Gloomy Trader Sentiment: Analytics Firm (TDH)
• Kaleo: Ethereum to $3,000? Analyst Envisions 80% Surge For ETH In September (ZyCrypto)

Neutral

• Sam Bankman-Fried: Here's When Bitcoin Will Start Growing Again: Billionaire Sam Bankman-Fried (UToday)
• ETH price outlook for The Merge: Bullish or bearish? | TheChartGuys interview (Cointelegraph)

Negative

• Rekt: Top Crypto Analyst Issues Ethereum Alert, Says ETH Rally Different From March 2021 Bull Run (TDH)

EXCHANGE

• Indonesia plans to set up its crypto bourse by the end of 2022 (Cointelegraph | BIC)
• FTX US Derivatives adds former CFTC commissioner to board (TB | Cointelegraph)
• Over Half of All Daily Bitcoin Trading Volume on Crypto Exchanges Are Bogus, According to New Forbes Study (TDH)
• Cardano gets listed on Robinhood but ADA bulls are running out of steam, risking 40% drop (Cointelegraph)
• Cardano Enthusiasts Are Disappointed With Crypto Exchange Coinbase — Here’s Why (ZyCrypto)
• Binance is Not a Chinese Company, Declares CEO (Cointelegraph)
• Crypto users push back against dYdX promotion requiring face scan (Cointelegraph)

MINING

• Crypto miner PrimeBlock's CEO leaves the company (TB)
• Compass Mining hosting sites shut down in Georgia due to 50% power spike (TB | BIC | Coindesk)
• Bitcoin mining revenues rose by 10% in August (TB)
• Bitfarms mined 6.8% more bitcoin in August (TB)
• The Days of Lucrative Bitcoin Mining at Home are Over (Blockworks)
• Bitcoin mining stock report: Thursday, September 1 (TB)
• Texas Bitcoin Mining Boom Might Be Reaching Its End, But Grid Operators Are The Happiest – Here’s Why (ZyCrypto)

REGULATORY WATCH

• SEC and CFTC want help building new crypto reporting regime for hedge funds (TB | BIC | Cointelegraph)
  
• California State Assembly passes bill for licensing and regulating crypto firms (Cointelegraph | TB | BIC)

LEGAL BATTLES

• Why U.S. Launched Probe Against CEO Of Crypto Exchange Binance (Bitcoinist | BIC | Blockworks)

THE BAD

• Michael Saylor got wrecked, but Bitcoin investors needn't panic (Cointelegraph)

LISTEN

• The Wolf Of All Streets: Will American Politicians Ever Embrace Crypto? | Dennis Porter, Satoshi Action Fund
• The Breakdown: Paraguay President Vetoes Crypto Bill
• Bitcoin Magazine: Bitcoin and Progressive Politics w/ Margot Paez
• Decrypt Daily: Aug 31: $10M Sent to You! What Would You Do?
• Bankless: Arbitrum Nitro Launch with Steven Goldfeder & Harry Kalodner

Disclaimer: If you take anything I post as financial advice that's on you boo! I curate news information daily (with the knowledge I've acquired since 2011) to provide you a view of what is happening around the Digital Asset space. If YOU decided to buy, hold, or trade Digital Assets as a result of reading what I've posted, that is YOUR decision and this isn't advice. You should discuss any investments with your financial advisor and if you don't have one, find one.