GM, this is The Crypto Explorer, we don't want to brag, but we think our newsletter is better than sliced bread. Okay, we're totally bragging. 😀

Here’s what we got for you today:

• 🫣 SBF's Legal Team Argues Dishonesty Isn't Fraud!

• 🧱 Around The Block: Pepe’s market cap sinks $1B in 5 days.

🫣 SBF's Legal Team Argues Dishonesty Isn't Fraud!

Sam Bankman-Fried, the founder of cryptocurrency exchange FTX has filed a motion to dismiss 10 of the 13 criminal charges brought against him by the US government.

The charges include:

• Stealing customer funds

• Defrauding investors

• Bank and wire fraud,

• Improper loans

• Misleading lenders,

• Transmitting money without a license,

• Making illegal campaign contributions,

• and bribing Chinese officials, and other crimes.

Bankman-Fried has pleaded not guilty to all charges.

Bankman-Fried's lawyers are pulling out all the stops with their arguments.

• Firstly, they accused the US government of rushing to judgment without waiting for all the relevant evidence and that the government improperly turned civil and regulatory issues into federal crimes.
  

• Secondly, they argue that the US is attempting to criminalize all acts of dishonesty, which should not fall under the definition of wire fraud.
  

• And finally, the legal team pulls out their big guns, claiming that the US violated an extradition treaty with the Bahamas by bringing additional charges against Bankman-Fried without the consent of the Bahamian government.

They have requested that if the court decides not to dismiss the charges, there should be a separate trial for charges related to illegal campaign contributions and foreign bribery because combining the charges could prejudice the jury and lead them to infer guilt on the part of Bankman-Fried.

This seems like a claim that sounds MAYBE valid, but I don’t know if the US government can be restricted in enforcing its own laws by an agreement with a foreign country. 🤷

Let’s leave it to the Judge, shall we? 😄

But hey, filing a motion to dismiss charges is a standard practice in almost any trial like this. 

Even the government prosecutors probably prefer for SBF's defense counsel to at least attempt to dismiss these charges, as they don't want SBF to have an appeal on the grounds of ineffective counsel either.

We don’t want SBF getting away on grounds of technicality, now do we? 🤨

It's however highly likely that even SBF's defense team doesn't believe this Hail Mary attempt will work, but they gotta check that box and show they've done everything for their client.

The hearing will probably go along the lines of:

Defense: "Judge, we think all these charges are BS for the following reasons!"

Judge: "Nope, not BS. Not dismissing the charges."

Defense: "Okay, see you soon at the next hearing."

We'll just have to sit back, grab some popcorn, and see how it all unfolds. 🍿😀

🧱 Around The Block: Pepe’s market cap sinks $1B in 5 days.

• 📉Memecoin: Pepe’s market cap sinks $1B in 5 days, some whales are still buying.

• 🚨Crypto Regulation: Binance looks to the UK for regulation amid US crypto crackdown.

• 👺Cybersecurity: Kraken builds fake crypto accounts to ‘bait’ fraudsters, to catch a scammer.

• 🗣️Warning: Coinbase calls Pepe a ‘hate symbol,’ prompting calls to boycott the exchange.

That's all we have for today.

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In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.