GM Brew Crew, you know that feeling after flying past a cop and looking in the rear view mirror to see no flashing lights? I bet you get the same feeling after this morning’s special blend. Let’s dive in ⬇️

On the menu today:

• 📣 COINBASE’S NETWORK ‘BASE’ LAUNCHING SOON

• 🧐 SAM BANKMAN-FRIED DRAMA

• 😱 KPMG LAYS OUT ESG BENEFITS FROM BITCOIN

Today’s Charts:

📣 COINBASE’S NETWORK ‘BASE’ LAUNCHING SOON

Coinbase has revealed that Base, its layer-2 blockchain constructed using Optimism's OP Stack, will be made accessible to the general public on Aug 9th.

In July, the network became available for developers. Now, they are preparing to open the gates to the public starting next week.

When asked what the connection is between Coinbase and Base - CB states on their site: “We see Base as a key step in bringing Coinbase’s products, users, and assets into the decentralized cryptoeconomy”

Their selling point? Big features, small fees. Base offers full EVM (Ethereum Virtual Machine) compatibility at a fraction of the cost and is committed to pushing forward the developer platform.

This network will be exciting to watch play out in the coming weeks…Coin ’Based’ am I right?? don’t slap your knee too hard 😏

🧐 SAM BANKMAN-FRIED DRAMA

Sam Bankman-Fried (SBF), co-founder of FTX, argued that being sent to jail would violate his "free speech right" and expressed opposition to the revocation of his $250 million bond.

In a recent New York Times article, excerpts from Caroline Ellison's (former CEO of Alameda Research) diary were featured. SBF was accused of sharing quotes from the diary with the media and speaking to the reporter who wrote the story.

In response, SBF’s lawyer, Mark Cohen, refuted the allegations, stating that his client's contact with the reporter was a proper exercise of his rights to make fair comments on an ongoing article with existing alternate sources.

Cohen argued that sending SBF to jail for talking to a reporter would raise "serious" First Amendment issues, as the U.S. Constitution protects the freedom of speech and the press.

It’s a never ending saga with this guy… At least we will get a sick Hollywood film out of this BS 🤣.

😱 KPMG LAYS OUT ESG BENEFITS FROM BITCOIN

KPMG, one of the Big Four professional services firms, released a comprehensive report focusing on Bitcoin's impact on environmental, social, and governance (ESG) issues.

The emissions from Bitcoin are noted to be lower than commonly discussed, and the report suggests strategies like using renewable energy and methane-produced energy for mining to improve its carbon footprint.

The report also addresses concerns about money laundering, stating that Bitcoin's contribution to global money laundering is tiny compared to the total amount, accounting for just 0.24% of Bitcoin transactions.

The report emphasizes that Bitcoin's governance is robust, as its rules cannot be changed, ensuring decentralization and preventing misuse by those in power or individuals with underlying motives.

The largest financial firms in the world are waking up and we are truly seeing the global adoption of Bitcoin occur 👀.

Special Blend: Morning Meme Roast

As the CryptoBrew Daily comes to a close, we invite you to join us on Twitter for more crypto chat. Think of it as a chill gathering of like-minded folks, minus Chad talking about his 1-rep deadlift max and your tipsy uncle who always shares TMI stories. Let’s keep the crypto conversation going!

***DISCLAIMER: Please note that the information provided in this newsletter is for educational purposes only and is not intended to be construed as financial advice or a solicitation to buy or sell any assets. We urge you to exercise caution and conduct your own research before making any financial decisions.