~Estimated Read Time: 2 Minutes, 7 Seconds
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Bitcoin: $23,218 (-49.46%) (YTD)
Ethereum: $1,850.95 (-49.20%) (YTD)
USDC: $.99 (-0.04%) (YTD)
Solana: $39.78 (-76.03%) (YTD)
Hey Tea Sippers 👋,
August is almost over, wow! Happy Friday, though! Elon Musk tweets, that he will buy Manchester United, jokingly… They are publicly traded, and shares rose 17% after the tweet.
In other news, tech stocks hit highs for companies such as Walmart, as they posted record earnings this quarter, as more high-income consumers are shopping at Walmart and utilizing their e-commerce services, uh oh Amazon?
Well, we are going to send you off. We hope that you enjoy the stories we have for you today. This one is short and sweet. Grab your tea and start sipping!
Cheers! ☕️
1. Tornado Cash gets sanctioned by the US government.
Think about if you were able to use cryptocurrency, but instead of being pseudonymous, you are completely anonymous. Yes, this is what tornado cash does. It mixes your crypto with a pool of tokens so that you become completely anonymous and untraceable, in theory.
Sanctioned.
The US government has sanctioned the cryptocurrency platform, tainting all funds tied to the company.
Comedian, Jimmy Fallon’s account was sent funds by a perpetrator via a tornado cash account, which temporarily froze his account.
Who does this affect?
Anyone who interacts with or holds any funds from tornado cash, makes your wallet automatically tainted and unusable.
There are two sides to the coin.
Many individuals have been using it to launder funds, while in other countries many use it to free themselves from a totalitarian society.
The Big Gulp ☕️:
It seems like there is a big question to be answered. To censor or not to censor? People who are super pro-Ethereum, are opposed to complete censorship and the ability to regulate the network because it defeats the purpose of the concept decentralized network, while others think it essential to protect users against scams and laundering of funds. So, to censor or not to censor again, is the question.
Extra Tea ☕️
Meme- 20-year-old student makes $110 million trading the meme stock Bed Bath and Beyond
Fed- To increase interest rates at the end of September as well as discuss stablecoins and their risks.
Lithium- Carmakers are battling for Lithium as the most valuable resource for electric cars.
Payments- Ripple has partnered with Brazil to create a crypto-on-demand liquidity product.
Tea Pods ☕️
Curious about learning more about Coinbase and the founder Brian Armstrong’s vision and mission. Check this podcast out with Lex Fridman.
Listen Here.
Sencha Tea Fact of the Week ☕️
“Houston Texans have become the first football team to sell a suite using digital currency.”
Since you made it this far!
If you or a friend know anyone interested in the space, feel free to recommend them.
Cheers!☕️