Happy Tuesday!

But it’s not just any Tuesday, it’s All Saints Day!

All Saints Day is supposed to be a celebration of every Saint, known and unknown. Not just the big ones, like Saint Francis, the saint of animals, or Saint Anthony, the saint of lost things.

We’re here to celebrate Saint Derek, the patron saint of crypto, and Saint Brian Williams, the saint of breaking news.

So gather round and light a candle, we’ve got some breaking crypto news!

Espresso Shots

Big news from the day!

☕️ Europe's inflation balloons! 💨🎈

Eurozone inflation reached an all-time high in the last week of October at a record 10.7%.

The Eurozone, the 19 EU countries using the Euro, has had a rough year economically, with energy and food prices being hit hard by inflation. The region’s inflation was only further stressed by Russia’s invasion of Ukraine.

The conflict has left Ukraine unable to export from its port, which put serious strain on the supply chain and prices throughout Europe. The Eurozone has thus far dodged a recession, but an economic slowdown is imminent.

We’ll all be closely monitoring the inflation in the Eurozone and I, personally, will deal with my inflation at Autozone, as my car’s tires suffer under colder weather.

☕️ Binance fights crime! 🚨🚔

Binance, the world’s largest crypto exchange, has put together a team of specialists to instruct law enforcement around the world on how to fight crypto crime. 

This effort is led by Matthew Price, Head of Intelligence and Investigations at Binance, formerly of the IRS and the CIA. Price believes that much of law enforcement’s hesitancy to get involved with the crypto space is borne of misunderstanding.

Experts believe Binance will soon begin recruiting pre-cogs for their as of yet unveiled, Future Crimes Division.

☕️ Dogecoin takes a bite out of the market! 🤑📈

Dogecoin has had an absolutely gangbusters month (that means good,) almost doubling in price during its run in October.

Dogecoin hit $0.1277 yesterday, marking a 117% increase over the past two weeks. Dogecoin’s success is almost certainly tied to Elon Musk’s acquisition of Twitter.

Elon Musk has long touted Dogecoin as somewhat of a pet-project (pun intended) and historically the token has shot up after one of Musk’s endorsements.

Musk has referred to himself both on Twitter and on SNL as, “the Dogefather.” At this time, Sicilian businessmen are flocking to Musk’s New York compound, where he is powerless to refuse a request on the day of his dog-ter’s wedding.

Spilling the Beans

Is Twitter going full-crypto?

Just how deep into crypto will Twitter go?

With Elon Musk’s recent acquisition of the platform, the world is watching to see what’s going to happen to our strange, special little place.

And, notably, Musk isn’t acting alone, his $44 billion bid was backed by a tidal wave of third party investors, including Binance and venture capitalist titan, a16z (formerly Andreesen Horowitz.)

Particularly interesting is that a16z’s involvement appears to be more than just financial. Sriram Krishnan, a general partner at a16z was at Twitter Headquarters this week “helping out.”

Krishnan works primarily on the crypto investment arm at a16z, so his presence at Twitter is certainly notable.

For Elon’s part, Musk has already stated that he’d like to see Twitter follow in the footsteps of China’s WeChat.

And the most important distinction between WeChat and Twitter is the presence of payments within the platform. Certainly, some small amount of business is conducted on Twitter, but actual financial interactions primarily happen off platform.

Currently, the only existing payment model on Twitter is Revue, Revue functions a lot like Patreon, basically Only Fans but for news. Revue gives you access to select tweets and content from your favorite, gated Twitter accounts, after unlocking a paywall.

We’re going to have to start making a distinction between pre and post-Elon Twitter. Maybe just, B.E. (Before Elon) and A.E. (After Elon.) 

There have been a few crypto implementations during the B.E. era. NFT profile pictures were rolled out and the announced but yet to be released, NFT tweet tile, which is fundamentally just an update to the formatting in which NFTs are shared on the platform.

With Musk at the helm, it’s unclear just how much Twitter is going to change or if Musk’s ambitions may be too drastic to alter Twitter, instead necessitating an entirely new platform.

Musk has said when it comes to his dreams of a super platform, he wouldn’t be averse to, “starting from scratch.”

Only time will tell whether crypto will be good for Twitter or if Twitter will be good for crypto. 

For now, the most pressing concern for Twitter is finally getting @Dril to tell them how he constructs the perfect viral tweet.

Meme of the Day

It's a slippery slope! 🤷‍♂️

The Last Sip

It should also be mentioned that while we’re covering Dogecoin’s hot streak, Shiba Inu was also up 12% last month. 

The tokens, of course, share a dog breed, causing experts and Winchester judges to wonder if it’s true what they say, that a rising tide lifts all doges?

Until next time, stay caffeinated,

Coffee & Crypto Team

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.