That guy in the back of the restaurant wearing sweatpants? He’s a tech millionaire.

That kid you went to high school with who was always sniffing glue? He’s the head of a hedge fund now.

Sometimes the unlikeliest candidates can create some serious wealth. And in no space does that ring more true than crypto.

So today, we’re going to examine an unexpected source for some truly massive crypto plays and uncover what we can learn from transparency in crypto.

Espresso Shots

☕️ Justin Sun Returns $56 Million to Binance ☀️ ⏎

Justin Sun, the founder of Tron and recent target of an SEC lawsuit, is refunding $56 million in Binance’s new SUI token after a warning from Binance CEO Changpeng Zhao.

Binance launched its new SUI token, which was intended for retail investors, not crypto’s whales.

To ensure that their token ended up in the hands of smaller investors, they added “Whale Alerts” to the launch pool to notify the company if any users were buying up massive amounts of the tokens.

And Justin Sun’s $56 million purchase would certainly qualify as a Whale Alert.

Though, to Sun’s credit, he agreed to play by the rules and refunded the tokens.

Sun claimed that his exchange team thought that this token was intended to, “facilitate market-making between leading TUSD exchanges, thereby enhancing liquidity and trading volume,” rather than its real purpose, a promotional event for independent investors.

“Upon realizing this error,” Sun stated, “we immediately contacted the exchange team and arranged for a full refund of the funds.”

Though Sun and his team have given the tokens back, they have continued buying up massive quantities of seemingly useless Bed, Bath, and Beyond coupons for some dark, unknowable purpose.

☕️ Crypto Shark Tank Coming Soon 🦈 🪙

CoinMarketCap, a crypto tracking website, is partnering with Web3 entertainment company Hello Labs to produce Killer Whales, a Web3 take on reality tv.

Following the format of the popular reality show, Shark Tank, Web3 startups will pitch their ideas to a panel of judges pulled from successful Web3 influencers and entrepreneurs.

Killer Whales will start its first round of auditions today, May 2nd, and the show is slated for release on major streaming services.

“Killer Whales is a fun and exciting opportunity to bring the entrepreneurial energy of the Web3 space to homes all over the world," said Jonathan Isaac, CoinMarketCap’s chief marketing officer.

Killer Whales came to fruition after the companies shelved Love is Decentralized, a concept for an anonymous, Web3 dating show that would end up following all the beats of an episode of Catfished.

☕️ Japan Nervous About AI 🇯🇵 🤖

A survey among Japanese adults found that 69.4% of the populace wanted stronger regulation around chat-based AI.

The initial survey was actually regarding government approval rate and citizens’ feelings on the government response to the COVID-19 pandemic, but the AI section was added after the Japanese government expressed broad support for OpenAI, the company behind ChatGPT.

Though private citizens may have their reservations, the Japanese government has been pushing for tech and AI innovation across all sectors.

It’s surprising that the Japanese would have these hang-ups considering that historically, robots have been crucial in defending Japan from “kaiju” or “giant monsters from the sea.”

Spilling the Beans

This Guy Makes 6 Figures A Month...? 🤯💰

One of the greatest benefits of decentralized finance is transparency.

We can see individual wallet’s activity, the trades they make, and the crypto they hold.

Rather than wonder at the private finances of millionaires, DeFi allows you to watch the plays undertaken by the biggest movers and shakers, in real time.

And a new tool has emerged to let you do just that, with unprecedented ease and sophistication.

gmx.house is a platform that allows you to track the movements of crypto’s biggest dogs, in real time.

GMX is a decentralized, perpetual exchange that supports trading on both Arbitrum and Avalanche. While gmx.house displays a leaderboard of the top performing traders on GMX.

Critically, GMX offers one delightfully tantalizing feature...   Leverage.

Leverage allows users who may not have the capital to make big trades, engage in the trades of their dreams. But it's not without additional risk.

We’ll have more on leverage in our Crypto 101 section.

With gmx.house, you can peruse the activity of various users from the sidelines and watch the masters at work.

But one particular user has really caught our attention.

They go by the username, “hoeem,” and have been trading and shorting crypto with a skill that is nothing short of Olympian.

We calculated the gains on this user’s trades and they’re netting the equivalent of a six-figure salary, every month, just from day trading crypto.

And unlike the traders on Wall Street, who carry their secrets close to the chest, hoeem has generously published a 23 point tutorial on Twitter to show the average crypto investor just how to run with the best.

Though hoeem has demonstrated remarkable skill, they’re hardly an anomaly.

In fact, gmx.house is currently in the midst of trading competition, encouraging its most profitable users to compete on their leaderboard for a cash prize.

If you feel confident enough in your crypto trading skills to compete, by all means, go ahead.

If you’d like to learn about the patterns, tips, and tricks to make it to the leaderboard, hoeem’s guide isn’t a bad place to start.

But if you’re serious about reaching the next level in crypto trading and are looking for a master class…

Look no further than our educational course, 1-800-Bitcoin.

1800Bitcoin.com

There you’ll find the educational modules and tutorials you’ll need to run with the Olympic-level traders. 

Now keep in mind, the activity taking place on gmx.house is high intensity, high-risk trading.

So if that’s more than you’re looking for, you’ll get no judgment on our end.

But whether you want to enter monthly competitions, watch other’s trade, or just use gmx.house as a research tool to take the market’s temperature, you’ll find that it’s an invaluable tool in your crypto arsenal.

Happy trading (or watching).

Meme of the Day

Isn't it a shame how you can't show off internet money at a party? 

Crypto 101

Leverage: In crypto trading, “leverage,” is a feature which allows traders to increase their exposure to the market while not having to put up the full amount of capital required for a trade.

When leverage is available in trades, it allows for increased potential returns at a lower initial cost. However, this comes with a higher level of risk, as both gains and losses are magnified. In essence, it provides the possibility of higher rewards with less upfront investment, but with a greater degree of risk involved.

The Last Sip

Here are the three other, less publicized polls in the Japanese government’s survey of its population.

• Are you comfortable with our cultural shift away from a feudal honor system? Yes or No?

• Soy sauce on sushi? For or Against?

• Is Hello Kitty played out? Please limit your response to four sentences and include at least one special character or instance of calligraphy. 

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.