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It's FRIDAYYYY Folks! Most covered news this morning is SBF or Justin Sun in talks to buy the majority of Huobi Global Exchange (developing story.)

Another week of excitement in the world of Bitcoin. The price almost conquered $25K but that came to a screeching halt; but dips might be limited. Bitcoin is currently around $23,699.79. On-chain data points to one concerning sign regarding Bitcoin price and Nicholas Merten believes a sell-off is coming.

Meanwhile, Ethereum is gearing up for another lift-off to $2K; rally isn't over yet. If you are a Cardano holder, there are ways you can stake you holdings to earn yield but given the CeFi Contagion we just experienced why would you? Indian Authorities froze nearly $46MM assets of troubled Crypto lender Vauld who was impacted by the contagion. 

Mark Yusho believes the bottom is in and predicts a parabolic move for Bitcoin in less than a year; so by this time next year. Ali Martinez outlines key Bitcoin price level to watch; support at $23,890. Meanwhie, Peter Schiff is calling for a drop to $10K; riiiggghhtttt. Lex Friedman calls "The MERGE" an important moment in the history of Crypto. Hedge fund billionaire Steve Cohen is laying the groundwork for an investment firm focused exclusively on cryptocurrency; this could be significant and continues to indicate that the herd is coming. 

Globally, Japanese banking giant Shinsei is now offering $60 in $XRP or $BTC to lure in new customer, Buenos Aires is set to deploy Ethereum validator nodes in 2023, and Taiwan turns to Etheruem IPFS tech to thwart Chinese cyberattacks - while Uzbekistan is blocking foreign Crypto exchanges including Binance and FTX. The United Nations Conference on Trade and Development (UNCTAD) tries to convince the poorer countries to keep out of crypto; those who desperately need Bitcoin. India's FM says Crypto buyers should "exercise caution." Lastly in Australia, ASIC chair is troubled by sheer amount of "risk-taking" crypto investors. 

In the Mining world, Stronghold Digital pushes back Q2 earnings due to "significant announcement"  - I wonder what that will be? One thing for sure, the past 30 days have been great for Bitcoin mining stocks, recording whopping gains despite dull markets.

With the good comes the bad, but in this instance it's the good of the bad. Binance recovers the majority of funds stolen from Curve Finance and suspected Tornado cash developer arrested in Amsterdam; which is messed up! 

CRYPTO MARKET

• Crypto markets bounced and sentiment improved, but retail has yet to FOMO (Cointelegraph)
• Fallout from crypto contagion subsides but no market reversal just yet (Cointelegraph)
• Three-quarters of institutions to use crypto in the three years: Ripple (Cointelegraph | Finbold)
• Number of people working in blockchain space climbs almost 80% year-on-year (Finbold)

BITCOIN & ETHEREUM

• Bitcoin Bearish Signal: Whales With 1k-10k BTC Depositing To Exchanges (NewsBTC)
• Bitcoin records a 2-month-old price uptrend as bulls have overall near-term advantage (Finbold)
• Here are Bitcoin price levels to watch as BTC dips 5% from highs (Cointelegraph)
• TA: Bitcoin Price Tops Near $25K, Why Dips Might Be Limited (NewsBTC | BIC)
• On-Chain Data Points to One Concerning Sign Regarding Bitcoin Price (UToday)
• TA: Ethereum Gearing For Another Lift-Off to $2k: Rally Isn’t Over Yet (NewsBTC | BIC)
• TA – Ethereum Price Faces Resistance As Merge Date Is Announced (NewsBTC)

ALTCOINS

• Cardano: How to Stake Your $ADA Tokens (Cryptoglobe)

THE MERGE

• Derivatives data hint Ethereum rally may abruptly end in a ‘sell-the-news’ event (Finbold)
• Why September 15, 2022 will be a historical day for crypto sector (Finbold | TDH)
• ETHPoW team says its miner-led Ethereum fork is 'inevitable' (TB)
• Justin Sun’s Plot to Divide Ethereum Off to Rocky Start (Blockworks)

TORNADO CASH

• Tornado Cash DAO goes down without explanation following vote on treasury funds (Cointelegraph | Decrypt)
• Tornado Cash DAO votes to take partial control over treasury funds (TB)
• Torn by US Sanctions, Tornado Cash Token Tumbles (Blockworks | Decrypt)
• Arrested Tornado Cash developer is Alexey Pertsev, his wife confirms (TB | TB | BIC |  TB | Blockworks | Coindesk)
• Tornado Cash DAO discusses legal avenues to challenge US sanctions (TB)
• 'Dangerous' precedent: crypto execs slam arrest of suspected Tornado Cash developer (TB)
• Decentralized or Not, Officials Say Tornado Cash Responsible for Illicit Activity (Blockworks)

CEFI CONTAGION

• Indian Authorities Freeze Nearly $46M Assets of Troubled Crypto Lender Vauld: Report (Coindesk | TB | Cointelegraph)

ANALYST'S CORNER

• Justin Bennett: Top Crypto Analyst Details Bullish Scenario That Could Send Bitcoin (BTC) Surging by Nearly 50% (TDH)
• Mark Yusko: Crypto Hedge Fund Veteran Predicts Explosive Parabolic Move for Bitcoin – Here’s His Timeline (TDH)
• Ali Martinez: Crypto Trading Expert Outlines Key Bitcoin ($BTC) Price Levels to Watch After Predicting Rise Above $24,000 (Cryptoglobe)
• Crypto Capo: Analyst Warns Ethereum Merge Mania Is Blinding Crypto Traders, Says Hammer Set to Drop on Unsuspecting Investors (TDH)
• Michael van de Poppe: $ADA: Crypto Analysts Point to Key Technical Level for Cardano’s Price to Overcome (Cryptoglobe)

NOTABLE VOICES

• Barry Silbert: BlackRock’s New Bitcoin Trust Could Be The Catalyst For Central Banks Investing In BTC: DCG’s Barry Silbert (ZyCrypto)
• Scaramucci: Crypto sector is poised for ‘a lot more commercial activity’; suggest $BTC could hit $300K (Finbold | UToday | CryptoPotato)
• Peter Schiff: Bitcoin on Track to Drop Below $10,000 (UToday | Finbold | ZyCrypto)
• Lex Friedman: $ETH: Lex Friedman Calls the Merge ‘An Important Moment in the History of Crypto’ (Cryptoglobe)
• Steve Cohen: Quietly Setting Up Crypto-only Asset Manager (Blockworks)
• Sam Bankman-Fried: FTX CEO Says Bailout Efforts Within Crypto Industry Have So Far Been a Let Down – Here’s Why (TDH)

DEFI

• Curve Finance resolves site exploits, directs users to revoke recent contracts: Finance Redefined (Cointelegraph)

GLOBAL

• Japanese banking giant Shinsei offers $60 in XRP or BTC to lure in new customers (Finbold)
• Buenos Aires to Deploy Ethereum Validator Nodes in 2023 (Coindesk)
• UNCTAD Wants To Curb Crypto Adoption In Developing Countries. Of Course They Do (Bitcoinist)
• Uzbekistan Blocks Foreign Crypto Exchanges Including Binance and FTX (BIC | Bitcoinist | Cointelegraph)
• Taiwan Turns to Ethereum IPFS Tech to Thwart Chinese Cyberattacks (Decrypt)
• India’s FM Says Crypto Buyers Should "Exercise Caution" (UToday)
• ASIC chair troubled by sheer amount of ‘risk-taking’ crypto investors (Cointelegraph)

EXCHANGES

• Chinese Crypto Tycoon Wants $3 Billion for Huobi Stake Deal (Cointelegraph | Decrypt | Blockworks | EWN | CryptoPotato | TB | Coindesk | ZyCrypto | BIC)
• Kraken’s Proof of Reserves Audit Now Supports $XRP and $ADA (Cryptoglobe)

MINING

• Stronghold Digital Mining pushes back Q2 earnings due to 'significant announcement' (TB)
• BTC mining stocks double in a month as production ramps (Cointelegraph | Finbold)
• Bitcoin mining stock report: Friday, August 12 (TB)

LEGISLATION/REGULATION

• XRP v. SEC: John Deaton Makes Another Argument for SEC's Incompetence (UToday)
  
• Ex-SEC Lawyer John Berry Argues That XRP, Like ETH and BTC, Isn’t Suited For The Howey Test (ZyCrypto)

THE BAD

• Binance recovers the majority of funds stolen from Curve Finance (Cointelegraph | TB | EWN | Coindesk | Finbold | Blockworks | BIC | CryptoPotato)
• CFTC accuses Ohio man of operating $12 million ‘bitcoin Ponzi scheme’ (TB)

PODCASTS

• Bitcoin Magazine: Bitcoin is a Game Changing Technology w/ Sam Callahan
• Unchained: Tornado Cash Sanctioned. Did the Government Overstep Its Bounds?
• The Breakdown: How Much Privacy and Decentralization Really Matter, Feat. Jill Gunter
• Bitcoin Audible: Read_642 - Losing Your Keys Without Losing Your Coins [Block]
• On The Brink: Weekly Roundup 08/12/22 (Tornado Cash OFAC'd, Dai reconsiders USDC, Merge scheduled)
• Bankless: ROLLUP: Goerli Merge | Tornado Cash Ban | Coinbase BlackRock Deal | Fake Solana DeFi?
• Decrypt Daily: Aug 11: Crypto Newsletters BANNED by Mailchimp