If you had one, you probably looked up to your older brother as a kid. He showed you what to wear, how to talk, and which of your hobbies would be mocked.

But as adults, we rarely have that kind of harsh, yet loving mentor. So when it comes to your finances, who should you look to for guidance?

Naturally, many of us lack the time or means for a financial advisor. If you want to know how to comport yourself financially, just look to the richest among us.

That’s right: Billionaires — a group that gets a lot of negativity, but it stands to reason that at least some of them must know something we don’t.

And it looks like they aren’t leaving crypto anytime soon.

A Word Foam Our Sponsor

Did you know: After the stock market moves up 50% in a year, the S&P 500 tends to be down 1.5% the year after. 3 years later, the market moved up 42.4%, historically.

How should you position your stock portfolio for the current market environment? Find out by subscribing to The Average Joe — a free 3x weekly newsletter covering market trends, news and analysis.

Join 19,000+ investors finding the biggest market trends

Espresso Shots

☕️ SEC Fights to Appeal Ripple Ruling ⚖ 👩‍⚖️

The SEC is arguing that the groundbreaking Ripple ruling, which decided that Ripple did not violate securities laws in the sales of its XRP token, needs intervention from the appeals court.

The SEC filed a motion in support of the appeal on Friday. That SEC motion was also in response to a Ripple motion filed on September 1, in direct opposition to the appeal.

The SEC has a long road to an appeal. They’ll need to have Judge Analisa Torres sign off on it, as well as certify that an appeal would bring a faster resolution to the case. Even with these permissions, the SEC will still have to present the case to the Second Circuit Court of Appeals.

Meanwhile, Ripple will continue to fight the SEC’s action with a legal strategy that should be called “unappealing.”

☕️ Sushi Joins Aptos 🍣 🤝

Sushi, one of the oldest and most prominent decentralized exchanges, has just extended its services to include the layer 1 blockchain, Aptos.

It’s a significant expansion because this is the first time that Sushi has been available on a blockchain that is not compatible with the Ethereum Virtual Machine (EVM).

Sushi currently holds nearly $350 million in funds locked on the platform, but the company’s expansion into a non-EVM blockchain should create new cash flow.

Sushi may have to reflect the recent upgrade with a rebrand to the larger, more showy, SushiBoat.

☕️ Vitalik Buterin Hacked 🪓 💲

Vitalik Buterin, the founder of Ethereum, had his X account hacked and used by the thieves to make off with $691,000 from various X users — in addition to Buterin’s followers.

Buterin’s hijacked account posted a link purporting to be a commemorative NFT giveaway celebrating the release of Proto-danksharding.

But rather than receive an NFT, any users who used the link had funds drained or assets stolen. The hack prompted a broader discussion about the safety of X and the potential for more social media hacks in the future.

It’s unclear how the hackers gained access to Buterin’s account, but they may have brute-forced it by repeatedly guessing passwords until they finally got to “defiWarlock420.”

Spilling the Beans

Whale Watch: Billionaires in Crypto 🐋 👀

We’d love to have a peek into the minds of billionaires. What is it that makes them tick — and more importantly, how were they able to amass such incredible fortunes?

Maybe it’s their habits. You hear about erratic sleep schedules or voracious lists. Or maybe they just got lucky. Perhaps they were in the right place at the right time, or had a distant uncle in the British monarchy.

Whatever the reasons behind it, billionaires control a lot more funds than the average investor, but that doesn’t mean we can’t invest like billionaires. Proportionally.

But we’ve noticed that despite the crypto market’s recent tumult, billionaires aren’t picking up stakes and ditching crypto.

If anything, they’re as bullish as ever.

Take Mexican Billionaire Ricardo Salinas, for example.

Salinas inherited a retail empire, Grupo Elektra, from his father, a fact that Salinas is endearingly candid about. Salinas’ X account includes both “Bitcoin holder” and “NepoBaby” in his bio. No, really, that’s what it says.

But Salinas didn’t just put his feet up and let the company run itself. He expanded Grupo Elektra and became chairman of the media group TV Azteca, which is one of the world’s largest producers of Spanish-language entertainment that redefined television in Mexico.

Salinas’s combination of circumstance and business acumen led him down the path to becoming the third-richest person in Mexico.

And since then, Salinas has turned his attention to crypto.

Two years ago, Salinas loudly and proudly claimed he was ready to put his billions in Bitcoin.

And Salinas remains as bullish on crypto as ever and didn’t hesitate to share his sentiments in an interview with the Coin Stories Podcast, where Salinas not only discussed crypto at large but shared the contents of his liquid portfolio.

For a man who’s worth more than $14 billion, the contents of Salinas’s portfolio may surprise you.

Without further ado, here’s the rundown of the top five assets in Salinas’s liquid portfolio.

1. Bitcoin.

2. Microstrategy. This is a business intelligence company that builds platforms. Coincidentally, it also owns roughly 153,800 BTC.

3. Stocks in Bitcoin Mining Operations.

4. Oil Companies. A classic.

5. Gold Mining Operations.

And here you have it folks. A blend of the old and the new, with the new rising to the top.

But Salinas isn’t the exception that proves the rule. If you’re having any doubts, just look at Elon Musk and X (formerly Twitter), Mark Zuckerberg and the Metaverse, the Winklevoss twins and Gemini, or Brian Armstrong and Coinbase. The list goes on and on.

These billionaires can afford to do whatever they want — and they want to stay in crypto.

There hasn’t been a mass, billionaire exodus because they know there are still unclaimed fortunes in crypto.

The billionaires have seen the writing on the wall and all signs point toward crypto. Yes, there are risks, but they’re worth taking.

As Mark Zuckerberg once said, “The biggest risk is not taking any risk. In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”

Premium Market Report

DeFi

Protocols

Public Chains

☕️ Our Take:

Overview:

Meme of the Day

The only appropriate kind of yacht. 🤤

Crypto 101

Ethereum Virtual Machine: This is the software that runs on the Ethereum blockchain and executes smart contracts on-chain.

The Last Sip

We’re just kidding about Vitalik Buterin’s X password. If anything, he’s most likely using a Blizzard Battle.net official authenticator. It’s a small, plastic device that can fit on a keychain and randomly generates password sequences. Buterin’s probably features night elves or the undead.

Stay Caffeinated,

Coffee & Crypto Team

That's all for today! If this email got you hooked on our unhinged crypto takes, be sure to get a full dose on Twitter @GetCoffeeCrypto.

Want cutting-edge market analysis delivered to your inbox three times a week? Sign up for Premium Roast! We'll cut through the BS floating around on Twitter and CNBC and help you finally understand the markets, all for the price of a single cup of coffee.

If you find yourself smiling at any of our dumb jokes, or even *learning* something - make sure to share this newsletter with your friends!

If you get 5 friends to sign up - or even enemies, we don't care - we'll send you our Bitcoin Bootcamp eBook! This thing is packed with info and is the ultimate guide to the world’s ultimate currency.

Just hit the Click to Share button in the section below to get started!

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.