If you’re an investor, you know that some of the biggest gains can be found in the unlikeliest of places.

And nowhere does that ring more true than crypto.

Whether it’s seemingly worthless memecoins, an experimental new tech, or turning the losses of a bear market into positives, crypto has opportunities lying around every corner.

And how do I know all this? Because I’ve lived it.

Hi, I’m Jordan Fried. 👋🏼

The man behind Coffee&Crypto.

Through the highs and lows, the best and the worst economic conditions, I‘ve managed to ride the waves and always come out on top.

If you want to know how…

But for now, back to the news!

Espresso Shots

☕️ SBF Wants Charges Dismissed 📜 ❌

Sam Bankman-Fried’s legal team are seeking the dismissal of 10 of the 13 fraud charges levied against the former head of FTX.

SBF’s lawyers are asserting that four of the charges relating to bribery, campaign finance laws, and bank fraud were actually in violation of the extradition process between the U.S. and the Bahamas and must be thrown out.

SBF’s team have also found that an additional six of the charges are too ambiguous and should be dismissed as well.

His defense also criticized the current CEO of FTX, John Jay Ray III, for his role in rendering Bankman-Fried a villain in the public eyes.

Though SBF’s lawyers are fighting hard for him, they did not attempt to get the remaining three charges dismissed on the grounds that Sam “doesn’t like those either.”

☕️ Paxful Returns Under New Management ✨ 📝

Paxful, the P2P wallet provider that had to shut down last April due to concerns about American regulation, is back!

This time, Paxful will be headed by Delaware Lawyer, co-founder Artur Shaback.

Last April, Shaback and co-founder Ray Youssef became embroiled in a bitter dispute including several lawsuits and allegations of fraud, money laundering, misappropriation of company funds, and even accusations of Russian collusion violating U.S. sanctions.

Shaback will be returning without Youssef and is excited to have Paxful back online.

Though as far as the feud between him and Youssef, Shaback said it was just a matter of seeing the glass as Paxful instead of Pax-empty.

☕️ Europe's First "DeFi-Native" Bank 🖥 🏦

The German Fintech company, Unstoppable, is unveiling a new bank which will be “DeFi-native” and the first new bank to comply with the recent MiCA crypto legislation passed by European Parliament.

The new bank will be accompanied by a European pegged stablecoin as per the new MiCA (Markets in Crypto-Assets) regulation.

Unstoppable was previously best known for their “Ultimate” wallet, which allowed users to trade Solana and ETH from their smartphones. The employees at Unstoppable will now, like most Germans, be known for their banking.

Though some critics have said that the bank shouldn’t have been labeled as “DeFi-Native,” but the more progressive “DeFi-Indigenous.”

Spilling the Beans

Profit From This $COIN 😳 🏦

It’s no secret that the SEC has been causing a lot of problems for American crypto firms and exchanges.

Nowhere has that been more publicized than in the ongoing battle between the SEC and Coinbase.

And how do they keep our attention? Part of it is certainly that Coinbase CEO Brian Armstrong has a very outspoken media presence and has no problem criticizing the SEC.

He’s also occasionally very funny. We particularly liked this metaphor for the SEC’s unclear rules on crypto.

"Imagine you've got both football and soccer refs on the field, but we're actually playing pickleball (fastest growing new sport in America). The refs can't really agree on the rules of this new game, and one of them decides to change a call they made back in April 2021."

The other aspect is that Coinbase is currently the largest crypto exchange in the U.S.

And they haven’t packed up and left or shut down U.S. operations and looked to greener pastures overseas, like some American crypto companies.

Although, they keep threatening to, that’s for sure.

As recently as last April, Armstrong was questioned at London Fintech week as to whether he would ever consider taking Coinbase out of America.

“Anything is on the table, including relocating or whatever is necessary,” replied Armstrong.

“I think the U.S. has the potential to be an important market for crypto, but right now we are not seeing the regulatory clarity that we need… I think in a number of years if we don’t see that regulatory clarity emerge in the U.S. we may have to consider investing more elsewhere in the world.”

And Coinbase has already very much started investing elsewhere.

Just a couple weeks ago, Coinbase obtained a business license to operate in Bermuda with intentions to open an exchange there in the near future.

In addition to Bermuda, Coinbase has also extended its reach to Singapore, Canada, Brazil, and Abu Dhabi as a part of an ongoing campaign that Coinbase has dubbed the “international expansion drive.”

And yes, it seems that Coinbase has set up a series of international escape vessels should the American regulatory ship go belly up.

It makes sense to hedge your bets, this American regulatory climate is incredibly unclear and it may be better to stop doing business in America entirely than get burned with a $30 million fine like Kraken.

But what does this mean for you, reader? Why should you care?

And again, this feels like one of those time that we’re legally obligated to remind you that this newsletter does not legally constitute investment advice.

We’re not your advisors. We’re just talking.

Anyway, last March the SEC served Coinbase with a Well’s Notice.

A Well’s Notice is a letter that the SEC sends out to notify a company that the SEC is planning enforcement action against them and to plan accordingly.

This was just another push out of the United States for Coinbase, but the markets took notice.

After the incoming censure from the SEC was announced, legal action has still not arrived, and Coinbase stock dropped 15%.

Now, even if confidence in Coinbase was lowered in the short run, this is a huge, international exchange trading 30 cryptocurrencies.

Even if Armstrong does pull Coinbase out of the U.S., this exchange isn’t going to just fall off the map.

And again, we’re just talking here, but as the battle between the SEC and Coinbase wages on, a savvy investor might take this time to buy potential dips and get some major crypto exchange stock on the cheap.

This is a conflict to keep your eye on. Because when two lions fight on the plain of the Serengeti, no matter the outcome, it means we, the hyenas, get a little treat.

Meme of the Day

What's the harm in asking, right?

Crypto 101

Well's Notice: is a formal notification from a regulatory agency, typically the U.S. Securities and Exchange Commission (SEC), informing an individual or company that the agency intends to recommend enforcement action due to an alleged violation of securities laws.

While the SEC is intended to protect investors and maintain market integrity, the issuance of these notices has at times created uncertainty in the market, resulting in reduced investor confidence, and slowed innovation within the crypto space.

The Last Sip

Here are three additional, personal allegations that SBF wants dismissed.

• That he’s always sitting on the remote but too lazy to get up and help look for it.

• That he pretended like he was using dry shampoo for years when in fact he just entirely stopped showering.

• That his brother Gabriel is actually responsible for many if not all of Sam’s most celebrated League of Legends wins.

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.