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Happy Tuesday Folks! Right off a holiday here in the US, the news cycle is light. Bitcoin is currently trading around $19.9K bobbing above and below $20K like a boxer dodging a Mike Tyson punch.

Which is allowing Ethereum to take the spotlight and keeping the "Flippening" conversation alive; it has surged 7% as the final countdown begins with the Bellatrix upgrade. In the Podcast of the Day, Arthur Hayes (former Ethereum Skeptic) gives his reasons why the Merge is making him bullish on $ETH. Mining revenue outperforms Bitcoin in last full month of PoW before the merge and the merge is starting to hit gaming chip prices. 

Altcoin Sherpa believes $ADA is in a sideways accumulation phase and is watching $1,730 for $ETH. Chris Burniske believes we need another plunge in price before a significant rally.

Australian treasury consults public on Bitcoin foreign currency tax exlusion and Netflix is blocking Crypto and gambling ads ahead of news subscription tier rollout there. In Brazil, ByBit is barred from brokering securities. Elon Musk complains about bots impersonating CZ and Indian police arrest two suspects who duped 1,400 in alleged Crypto scam for $12MM. 

TRENDING

• Ethereum’s ‘Bellatrix’ Upgrade Goes Live (Blockworks | Coindesk | CryptoPotato | UToday | Decrypt | Cointelegraph | EWN | TB | ZyCrypto | Coindesk | ZyCrypto)
• Circle co-founder says converged dollar books on Binance would be good for USDC (EWN | Cointelegraph | CryptoPotato | Bitcoinist | TB)
• Three Arrows Capital Wallet Removes Millions in ETH From DeFi Liquidity Pools (BIC | CryptoPotato | Blockworks | TB | Coindesk)

BITCOIN & ETHEREUM

Positive

• Bitcoin’s 5-year returns dwarf major banking stocks’ ROI by over 500% despite crypto winter (Finbold)
• Bitcoin Diamond Hands: Long-Term Holder Supply Surges Up To Near ATH (NewsBTC)
• Investors Continue Buying Bitcoin Dip as Price Drops Below $19,000 (BIC)
• Ethereum takes the spotlight as Bitcoin dominance drops to 4-year low (Finbold)

Neutral

• Here Are the Top 10 US States Most Interested in Bitcoin (BTC) and Ethereum (ETH): New CoinGecko Study (TDH)

Negative

• Bitcoin 'bear flag' breakdown targets $15K as US dollar hits 20-year high (Cointelegraph)
• Bitcoin price falls under $19K as data shows pro traders avoiding leverage longs (Cointelegraph)

THE MERGE

• Ethereum Undergoes Important Update in Just Few Hours (UToday)
• Ethereum Mining Revenue Outperforms Bitcoin in Last Full Month of PoW Before Merge (BIC)
• Ethereum's Merge Starts to Hit Gaming Chip Prices (Coindesk)
• DeFi Giant Aave Stops Loaning Ether Ahead of Ethereum Merge (Coindesk)
• Jess Houlgrave: Checkout.com strategist expects Ethereum Merge to ‘renew some confidence’ in crypto ecosystem (Finbold)
• Aave Halts ETH Loans As Ethereum Bellatrix Merge Upgrade Goes Lives (EWN | TB)
• Will the Ethereum Merge crash or revive the crypto market? | Find out now on The Market Report (Cointelegraph)
• Large Ethereum Miners Look to Cloud Computing, AI Ahead of The Merge (Coindesk)
• Hive Blockchain explores new mineable coins ahead of Ethereum merge (Cointelegraph | TB)
• Ethereum Devs Dismiss Early Hiccups as Bellatrix Kicks Off the Merge (Decrypt | Cointelegraph)
• How $ETH Holders Can Receive Free $ETHW Tokens From a Post-Merge PoW Fork (Cryptoglobe)

CARDANO VASIL HARD FORK

• Eight Exchanges Including OKX, Gate.io, & AscendEX Signal Readiness for Vasil Hard Fork (BIC)
• ‘ADA Whale’: Aada’s Launch “Should Bring Significant Improvements to Market Depth/Liquidity” (Cryptoglobe)

ALTCOINS

• Trading Bot Known for Beating Crypto Markets Chooses Ethereum, Polygon, Solana and Additional Blue-Chip Altcoin (TDH)
• Solana Sees Meteoric Growth Against ADA, ETH Even As Founder Cites ‘Curse’ Following Network Outages (ZyCrypto)

ANALYST'S CORNER

• Mike McGlone: Bitcoin Still in Bull Market, Just Selling at Discount, Says Senior Bloomberg Analyst (UToday | UToday)
• Jason Pizzino: Crypto Analyst Warns Ethereum (ETH) Merge May Trigger Short-Term Price Disaster (TDH)
• Altcoin Sherpa: Top Crypto Analyst Predicts Rally for Cardano (ADA), Updates Outlook on Ethereum (ETH) and Shiba Inu (SHIB) (TDH)
• Chris Burniske: Ex-Ark Invest Crypto Lead believes we need another plunge (UToday)
• Capo: Bitcoin price bounce is overdue after a ‘massive’ BTC long position appears (Cointelegraph)
• Glassnode: Discusses 4 Phases Of Bitcoin Accumulation & Distribution During Past Year (Bitcoinist)
• Arthur Hayes: Ethereum Merge Could Trigger ‘Free Money’ Opportunity for Crypto Traders (TDH | BIC)
• Analyst Warns Of The Elimination Of The Middle Class; Can Bitcoin Help? (Bitcoinist)
• KPMG: Predicts Crypto Slowdown for Remainder of 2022 (Blockworks | TB | Coindesk | BIC | Bitcoinist)

NOTABLE VOICES

• DBS: Bank With $489,000,000,000 in Assets Explains How Crypto Can Reach the Mainstream Public: Report (TDH)

LEGISLATION/REGULATION/TAXATION

• Australian Treasury consults public on Bitcoin foreign currency tax exclusion (Cointelegraph)

BLOCKCHAINS

• New XRP Payment Solutions to Be Presented at XRPL Developers' Summit Hosted by Ripple (UToday)
• Solana-based transactions approach 100 million despite challenging 2022 (Finbold)

EXCHANGES

• Crypto Exchange Bybit Barred From Brokering Securities in Brazil (Coindesk)

MINING

• Bitcoin mining stock report: Tuesday, September 6 (TB)
• Core Scientific Sold Over 1,100 BTC in August for $26 Million (CryptoPotato)
• Miners Hive Blockchain Technologies, Hut 8 Prep for Ethereum Merge (Blockworks)

LEGISLATION/REGULATION

• New finance minister Kwasi Kwarteng leaves crypto policy in the UK unclear (Cointelegraph)
• Australian Crypto Fraud: Federal Police Tap Forensic Unit to Curb Crims (BIC | CryptoPotato)

LEGAL BATTLES

• Netflix Blocking Crypto and Gambling Ads Ahead of New Subscription Tier Rollout in Australia (BIC | CryptoPotato | Cointelegraph | Bitcoinist)
• Elon Musk Complains About Bots Impersonating Binance CEO (UToday)
• Law firms seek to replace Roche Freedman as lead counsel in Tether case (TB)
• Indian Police Arrests Crypto Fraudster Accused Of $31 Million Scam (Bitcoinist | Coindesk)
• Alleged Bitcoin Launderer’s Lawyer Seeks Prisoner Swap With Russia (Blockworks)
• Basketball star for a crypto launderer? Alexander Vinnik's lawyers considers prisoner swap: Report (Cointelegraph)

THE BAD

• Hackers Take Over PwC Venezuela Twitter Account To Share Fake XRP Giveaway (ZyCrypto)

LISTEN

• What Bitcoin Did: Has the Bitcoin Price Bottomed Out? With The Rational Root
• Unchained: Arthur Hayes, Former Ethereum Skeptic, on Why the Merge Makes Him Bullish on ETH
• The Breakdown: Does AML Even Work?
• Decrypt Daily: Sept 5: ETH vs SOL Overview