When it comes to crypto, we all know the big guys.
Everyone tracks the movements of Bitcoin, Ethereum, or whatever altcoin is the flavor of the week.
But sometimes, the most exciting movements can come from crypto that is often overlooked.
Today, we bring you one such underdog story.
More on this unsung hero of a token in the deep dive.
Since you know so much about us, we thought it was time to learn a little bit about you. Tell us about your crypto experience! 👇
Where Are You On Your Crypto Journey?
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☕️ More Hints of FTX’s Return 👻 👀
Based on recent court filings, it would appear that John Ray III intends to reboot the FTX franchise.
In addition to meeting with a series of creditors and debtors last month, the court filings actually included explicit language pertaining to reviving the exchange.
FTX CEO John Ray III confirms FTX 2.0 plans. https://t.co/FeCXOvdrt0
— FTX 2.0 Coalition (@AFTXcreditor)
May 22, 2023
Though the reports differ on how much of FTX’s assets have currently been recovered. Some sources say $5.5 billion while others indicate as much as $7.3 billion.
Current projections predict that FTX will be operational again in the second quarter of 2024.
But we all know that FTX’s true return will be heralded by the Blood Moon rising and all of earth’s rivers running backwards.
☕️ Prominent Crypto Figures Named in Russia Sanctions ❌ 🇷🇺
Recent Russian sanctions have forbid 500 Americans from entering the world’s simultaneously chilliest and least chill nation.
The list includes political figures such as Barack Obama as well as several senators and U.S. ambassadors. Weirdly, several late-night television hosts were also listed such as Stephen Colbert, Jimmy Kimmel, and Seth Meyers.
But in addition to the kings of late night, several prominent figures in crypto have also been barred from Russia such as Gurbir Grewal, the SEC Enforcement Director, BJ Kang, a former FBI Investigator who now works for Binance.us, and Letitia James, New York’s Attorney General.
Though of course, as with any Russian sanction, it can be bypassed by offering the border patrol a box of American blue jeans.
☕️ Building on Dance 🏗 💃
The latest project from artist duo, Operator, is actually an NFT brought to you by… dancing.
The series entitled “Human Unreadable” will consist of three parts, containing both Web3 elements and in-person performances of dance.
Most interestingly, the NFTs themselves will be created through a coding language invented by Operator that translates dance movements into “choreographic hashes,” which is code which determines the appearance of their NFTs.
Dejha Ti and Ania Catherine are a married pair of artists that go by Operator, and though this isn’t their first foray into Web3, they’ve resisted being branded as “Web3 Artists.”
“We have no allegiance to any particular technology,” Ti told Decrypt. “The allegiance is to the concept of the work itself. In this case, it had to be blockchain technology, not only as [a] distribution method, but also as part of the medium of the work.”
Naturally, if any of the performers stumble, slip, or miss a step during the performance, the resulting NFT will be hideous.
Spilling the Beans
Why This Crypto 50x’d Last Cycle 😳 💰
In the past couple months, there has been a lot of talk of Bitcoin skyrocketing.
And Bitcoin did just that… for a while.
But if you’re like us and can’t help feeling a little let down by Bitcoin’s bull-ish run, we’re here to inspire new hope.
And in today’s crypto market, hope is currently going by the name, HBAR.
No, the “H” in HBAR doesn’t actually stand for “Hope”. It’s the native token of Hedera Hashgraph, a company that develops the Hedera network, a public ledger blockchain alternative.
And HBAR has had a miraculous little journey of its own. It hit a high of $.057 in 2022, before it crashed along with the rest of crypto during the worst months of the bear market (Thanks, FTX.)
But HBAR may be a real comeback kid, as it ran from a humble $.01 back to around the $.05 mark where it sits today.
And why did that happen? Because compared to Bitcoin and Ethereum, HBAR isn't that well known.
But it’s hardly an indie darling. HBAR is currently listed at number 34 of the top 50 cryptocurrencies.
And it popped back up in value because some of the world’s most important companies noticed HBAR before most independent investors did.
We’re talking some serious enterprise adoption here, Google, IBM, Boeing, and Deutsche Telecom all wanted a piece of HBAR, and have joined the Hedera governing council.
Why? Because Hashgraph (the underlying consensus technology) is the fastest kid on the block.
You see, Hashgraph isn’t a blockchain at all, it’s a DAG (Directed Acyclic Graph), and it can do everything a blockchain can do faster, cheaper, fairer, and with gold standard security.
The Hedera mainnet is currently clocking in just shy of 1,000 transactions per second, and set to cross 10 billion transactions soon.
All this with rock bottom transaction fees. The majority of which cost close to a tenth of a penny. Setting it up as a clear winner for enterprise adoption.
You’ll also be interested to learn that experts predict that HBAR may be poised… to do it all again.
The current research indicates that HBAR is poised to hit close to $.090 by the end of 2023, a dip in 2025, and then healthier levels in the years after.
We think that could be a very nice wave to ride.
And okay, maybe we’re a little biased.
Jordan Fried, one of the founders of Coffee & Crypto, is also one of the founders of Hedera Hashgraph.
We’re very proud of our hometown boy done good, but we’re objectively bullish on HBAR, regardless of how many members of our team were a part of creating it.
This also seems like a natural time to remind our reader that this is a comedic newsletter meant to bring you the crypto news of the day and in no way legal investment advice.
Anywho, whether you’re itching to buy, trade, or are just happy to track emerging trends and watch the numbers go up and down, we hope we’ve brought some valuable insights.
Keep your eyes on the market, your friends close, and your crypto even closer and we’ll keep bringing you the news, gossip, tips and tricks that will help you make more crypto and maybe even some more friends.
Meme of the Day
What happens if we suck at dancing? 😯 👯♂️
NFTs get weirder by the day... 🕺👨💻 https://t.co/buWw32SzFR
— Coffee & Crypto Daily (@GetCoffeeCrypto)
May 24, 2023
Public Ledger: This is an open access, fully decentralized network in which users authenticate other users’ data and transactions. That data is organized into long blocks or “chains” of information.
If you think that sounds an awful lot like a blockchain, you would be correct, as most popular blockchains are public ledgers.
The Last Sip
In addition to the official 2023 Russian Sanction, which lists 500 individuals who are banned from entering Russia, the Russian government released an unofficial sanction of individuals who, if found on Russian soil, will be promptly captured and disappeared.
And that list includes:
Anyone Claiming to be the missing Grand Duchess Anastasia Romanova
The German Army
The entire Coffee & Crypto writing staff
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.