It’s January 12th, which, in many ways, is a double January 6th. So, imagine 4,000 protestors storming the Capitol instead of a mere 2,000.

But instead of trashing Pelosi’s office, they make a human ladder and pick the Lincoln Memorial’s nose. Yeah. Or something even worse. That’s double January 6th for ya.

Anyway, on a less dark but equally thought-provoking note, make sure you’re subscribed to the Coffee & Crypto Podcast! Our trailer is out now and our first episodes are dropping soon!

Espresso Shots

☕️ Feetpix May Be Ushering in "Degen Season" 🦶 😲

An unlikely new collection, Feetpix.wtf rose to the top of OpenSea earlier this week, surpassing mainstays such as Bored Ape Yacht Club.

The Feetpix collection consists of, you guessed it, thousands of images of pixelated feet. Unfortunately, they’re supposed to be erotic as the project is described as intended to, “satisfy your deepest and darkest fantasies.”

Feetpix did about 640 ETH or $855,000 in the three days following its debut, causing some speculators to believe that crypto’s bear market is over and that Feetpix have brought out, “degen season.”

We don’t know about you guys, but we’d really prefer degen season to crypto winter. It certainly sounds a lot warmer, if not a little sweaty.

☕️ FTX Has Recovered $5 Billion 💰 😳

The FTX bankruptcy team is, in fact, making progress on recovering the missing $8 billion that is owed to their customers and investors.

“We have located over $5 billion of cash, liquid cryptocurrency and liquid investment securities measured at petition date value,” said Adam Landis, of the Bankruptcy Recovery Team.

“It does not ascribe any value to holdings of dozens of illiquid cryptocurrency tokens, where holdings are so large relative to the total supply that our positions cannot be sold without substantially affecting the market for the token.” 

The illiquid tokens they are referring to are likely FTT tokens, FTX’s native token. At present, FTT is worth just over a dollar, but FTX liquidating their supply would quickly knock that down to zero. 

In short, they’re doing their best to recover as much as they can as fast as they can, without further destabilizing the crypto market.

Though everyone’s anxious to get their funds back, the FTX bankruptcy team shouldn’t rush. Recovery is a journey, some might say a twelve-step process, and they should learn to take it one day at a time.

☕️ Game of Thrones NFTs Mocked 🤣 🤡

Game of Thrones NFTs Mocked

The Games of Thrones NFT collection, “Build Your Realm,” has been released and the NFTs have already sold out.

Despite what’s objectively been a commercial success, the collection is being chirped by Twitter because, well, the NFTs look like shit.

If the Heroes looking like low-res Skyrim characters wasn’t bad enough, most of the NFTs in the collection have long, warped, curled fingers like something out of Pan’s Labyrinth. 

Despite the criticism around the collection, we think the GOT NFTs could be paving the way for other long-fingered icons such as Slenderman’s SlenderToken or Salad Fingers’ RustyKettleCoin.

Spilling the Beans

The Winkle Wars Begin 🤺

Cameron and Tyler Winklevoss are no strangers to the spotlight.

They were positioned as the antagonists in the 2010 film, The Social Network. They both rowed in the Summer Olympics in 2008. 

In fact, the Winklevoss twins are even members of a touring rock band, Mars Junction. They’re literally used to the spotlight.

But the Winklevosses have been thrust into the public eye yet again. They’re simultaneously on attack and defense as lawsuits, letters, and accusations are being hurled in every direction.

It’s a conflict we’re calling The Winkle-Wars and we’re here to break it down for you.

The Winklevosses’ catalyst for conflict, their assassination of Archduke Ferdinand, if you will, was Genesis Global Capital freezing withdrawals. 

Gemini Earn, a popular interest-earning program on the Winklevoss’s crypto exchange, Gemini, was in partnership with Genesis, and when those funds were frozen, Gemini Earn essentially ceased to exist.

The Earn Program borrowed, lent, and paid out interest in conjunction with Genesis, and at the time of freezing, Gemini Earn customers had $900 million stuck in Genesis accounts. 

Ah, Gemini and Genesis. I know, they’re too close, I would have named them different things, but this is reality, so bear with me.

And here’s where we really get to the heart of the Winkle-Wars. Genesis halted its lending services last November due to fallout from the FTX crisis.

So, Gemini users can’t get their funds from Gemini Earn, and the Winklevoss twins are the face of this entire exchange - and they suddenly don’t look so good.

In a matter of weeks, Gemini and the Winklevii are slapped with a class action lawsuit from Gemini Earn customers.

Now, as newly minted defendants in a class-action lawsuit, the Winklevosses have a major ax to grind with Barry Silbert.

Is Barry Silbert the CEO of Genesis? No, but good guess! You can’t feel it but I’m tousling your hair right now. Barry Silbert is the CEO of Digital Currency Group, the company that owns Genesis (and a ton of other crypto firms.)

See, you were close!

Now the Winkle-Wars are in open conflict as the Winklevii have written several open letters calling for Barry Silbert to honorably step down or be fired as CEO.

The twins have also now torn up the lending agreement between the Earn Program and Genesis, which means the $900 Million is due. Immediately.

And since none of that has made Silbert pay up, the Winkle Warriors are going a step further.

They’ve alleged that Barry Silbert and DCG’s refusal to assist with the missing $900 million is an indicator of an FTX-style-fraud just waiting to blow.

Zuckerberg will tell you: don’t mess with the twins. 

Silbert and Digital Currency Group have assured everyone that’s not the case, but those missing funds are still flying in the Winklevoss’s faces like a bullet-riddled flag.

And don’t worry, if any of this is confusing to you, just wait sixteen years until they start churning out the Winkle-Wars prequels.

Meme of the Day

Is anyone else having recurring nightmares about the Game of Thrones NFTs? 

The Last Sip

Here are the three deepest grievances that the Winklevoss twins haven’t been able to air in the public space.

“If you guys were the inventors of Facebook, you’d have invented Facebook.” Unclear if this sick burn from The Social Network was ever actually uttered in court, but we’re sure the twins are still reeling.

The oars for the Harvard crew team were too short/not wide enough. Harvard’s inferior paddle craftsmanship totally disrupted their collegiate form.

Their mother’s uterus was too crowded.

Stay Caffeinated,

Coffee & Crypto Team

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