GM Brew Crew, a quick reminder - if everyone thinks it’s a good idea, you already missed the opportunity. When your buddy tells you crypto is dead, just keep onnnnn smiling.

Let’s Dive In ⬇️

On the menu today:

• 👀 CRYPTO HEDGE FUND LAUNCHING IN THE U.S.

• 🫣 SBF HAD A BAD BAD DAY

• 🫨 NIC CARTER REAFFIRMS BELIEF THAT BTC WAS MADE BY NSA

Today’s Charts:

👀 CRYPTO HEDGE FUND LAUNCHING IN THE U.S.

CoinShares, a major European crypto asset manager, is launching a hedge fund division specifically for qualified investors in the United States.

The new division, named CoinShares Hedge Fund Solutions, is in response to the increasing demand for crypto-based products, particularly involving Bitcoin.

Wait a sec, we thought crypto was dead?? 🙃

Lewis Fellas, the head of the hedge fund, emphasized the evolving requirements of institutional crypto investors due to changing risk factors in the space.

The hedge fund division will offer a variety of crypto investment products designed to bridge traditional investors with the digital asset industry.

While specific crypto products were not detailed in the announcement, CoinShares aims to provide a diverse range of offerings, including beta and alpha strategies.

Beta strategy ➡️ assesses the investment's relative volatility, providing insights into its general level of risk.

Alpha strategy ➡️ quantifies the investment's performance in comparison to the market index - general return of the investment.

You are a beta if you don’t think this is big!

🫣 SBF HAD A BAD BAD DAY

Former FTX founder, Sam Bankman-Fried (SBF), had a rough day yesterday as his expert witnesses were rejected and his appeal was denied. 

Witnesses rejected:

• The judge overseeing SBF’s case rejected all seven of his proposed expert witnesses.

• Concerns were raised about the qualifications of at least one witness, and the relevance of others to the case was questioned.

Appeal denied:

• The Second Circuit Court of Appeals rejected SBF’s appeal of Judge Lewis Kaplan's ruling to revoke his release on bail.

• This means SBF will remain in custody as his trial proceeds.

Can’t imagine how many people are pumped to see this guy have a terrible day. 🤣🤣

🫨 NIC CARTER REAFFIRMS BELIEF THAT BTC WAS MADE BY NSA

The long-standing "NSA created Bitcoin" theory, which has been circulating for over a decade, has resurfaced on social media. One Bitcoin supporter has further bolstered this persistent hypothesis.

“I call it the ‘Bitcoin lab leak hypothesis.’ I think it was a shuttered internal R&D project, which one researcher thought was too good to lay fallow on the shelf and chose to secretly release.”

He clarified that this doesn't mean the US government controls all Bitcoin. This theory often links to the Bitcoin/NSA conspiracy suggesting an NSA-created backdoor.

“In my version of this made-up idea, the researcher did it without permission of the NSA and chose to leave the coins behind so as to preserve his anonymity.”

The mystery surrounding Bitcoin's origin has persisted, leaving us to wonder if speculation will eventually yield an answer. 👀 🍿

Special Blend: Morning Meme Roast

As the CryptoBrew Daily comes to a close, we invite you to join us on Twitter for more crypto chat. Think of it as a chill gathering of like-minded folks, minus Chad talking about his 1-rep deadlift max and your tipsy uncle who always shares TMI stories. Let’s keep the crypto conversation going!

***DISCLAIMER: Please note that the information provided in this newsletter is for educational purposes only and is not intended to be construed as financial advice or a solicitation to buy or sell any assets. We urge you to exercise caution and conduct your own research before making any financial decisions.