Happy Tuesday! It’s November 22nd, so take some time out of your day to imagine if JFK hadn’t been assassinated.

Would we ever have gotten involved in Vietnam? Once you’re done ruminating on alternate timelines, withdraw from Vietnam and focus your attention on today’s crypto news.

Espresso Shots

☕️ JP Morgan Chases Crypto 🏦 🏎 💨

Financial heavyweight, J.P. Morgan has apparently begun their own dive into crypto.

J.P. Morgan has quietly registered a new trademark for “JP Morgan Wallet” which will be used to transfer and store digital currencies.

J.P. Morgan is entering the scene despite CEO Jamie Dimon calling cryptocurrencies nothing more than, “decentralized ponzis.”

But hey, when there’s money to be made, you leave your hangups at the door. You don’t get to be CEO of J.P. Morgan because of your strong moral center and unimpeachable ethics.

☕️ Crypto Family Sues Nexo 👨🏻‍⚖️ 🚨

Nexo, a crypto platform, is being sued in London to the tune of 107 million pounds (or $126 million in the colonies) by the Mortons, a family of fintech entrepreneurs.

Brothers Jason and Owen Morton and cousin Shane, allege that Nexo froze their ability to withdraw the 107 million pounds and strong-armed them into selling at a 60% discount.

When they tried to withdraw their Nexo holdings in 2022, the button was grayed out, as was the convert button, so they couldn’t transfer to a different crypto.

Their accounts manager at Nexo said the Mortons’ only option was to sell their holdings back at 60%.

The suit claims that Nexo imposed “bespoke” withdrawal limits on the family and used intimidation tactics to broker the best deal for the platform.

Nexo refuted the family's claims but,as with all legal disputes in England, if this can’t be settled in the courts, the Morton family will have to joust against Nexo’s chosen champion.

☕️ No Attorneys, No Problem 🚓 📉

American CryptoFed DAO will be the first DAO to take on the SEC without legal representation.

As Crypto continues to do battle with U.S. regulators and outdated securities policies, American CryptoFed is just the most recent entity called up to the plate.

CryptoFed has been brought to court by the SEC on allegations that they omitted and mistreated information in a securities registration last year.

These violations were in regards to CryptoFed’s two native tokens, Ducat and Locke.

CryptoFed will register both tokens as securities before they argue their case.

By representing themselves in court, CryptoFed joins the hall of fame of defendants who acted as their own legal representation, two of the most notable being Ted Bundy and the D.C. Sniper.

We haven’t read up on those guys, but we’re sure it went well. Wishing CryptoFed all the best.

Spilling the Beans

Have We Found Crypto's Bottom Yet?

In the days and weeks since the fall of FTX, there’s been obvious fear in the markets.

Some might say there’s now some blood in the water while others have already hit the panic button. Lawmakers and skeptics alike have doubled down, calling crypto “smoke and mirrors” and even true believers seem skittish.

So how do we wade through the muck? How do we sort through the panicky tweets, and the “I told you sos” and the red-streaked markets? Well, first, let’s simplify things.

How bad are things now?

The complete and utter collapse of FTX was an absolute shock to the markets. So how did the crypto markets respond?

On November 9th as it became clear FTX was doomed - Bitcoin fell to $15,757. It was a tough fall as Bitcoin hit its lowest point in years. So what about the weeks since?

The weeks after the fall of FTX have held host to bombshell after bombshell on the mishandling of funds at FTX. Yet, Bitcoin has held… surprisingly steady!

Bitcoin, as of this writing, sits at around $15,855 - not far from where it sat two weeks ago. This is all to say: the fall of crypto’s second largest exchange is a huge deal!

But despite this huge deal, crypto has held up surprisingly well!

How bad can things get?

Ok so the markets have fallen, that we’ve seen! But will they keep falling? If so, how much lower?

Well, first off, the best anyone can do is guess. Crypto has been largely unpredictable but it has no shortage of analysts making guesses!

The consensus seems to be: we’re not at the bottom yet. But we may be getting close.

If the sign of Bitcoin’s peak is Matt Damon doing crypto.com ads, the sign of its bottom might look a lot like today: fear, panic, red-streaked markets, people telling you to run.

But even if we’re close, prices can still fall lower. Analysts have predicted Bitcoin’s bottom this cycle could be as low as $11k.

Coffee & Crypto’s own “guessers” think Bitcoin could fall as far as $10k before bouncing.

Ethereum seems likely to fall beneath $1k again, some think its bottom might be around $700.

What does this mean for you?

Simplifying the markets is essential. If you try to look too deeply, you can convince yourself of anything. But history tends to be an amazing indicator of future performance.

We know the basic principles of markets are the infamous: “buy low, sell high.” But buying low means understanding what “low” might mean.

We can only ever guess of course, but we remain endlessly optimistic about crypto, that’s why we started a newsletter to talk about it!

And remember, when you’re at the grocery store this week, on that last run for Thanksgiving appetizers. Don’t forget to follow our advice. Guacamole. Queso. Seven-layer. Whatever. Buy the dip.

Meme of the Day

We're almost there! (we think?)

The Last Sip

Here are some popular crypto companies reimagined as Thanksgiving Dishes:

Pumpkin Pinance.

• Pumpkin Pinance

• OpenSea-soning.

• CoinBasted Turkey.

These all sound delicious. Don’t forget to save us a Bite-coin.

Stay Caffeinated,

Coffee & Crypto Team

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.