1 00:00:00,200 --> 00:00:04,200 Yo-yo, yo, what up, what up, what up. 2 00:00:04,200 --> 00:00:11,320 Good morning, good morning GMGM. It is another beautiful day to 3 00:00:11,360 --> 00:00:13,720 have a beautiful day here today folks. 4 00:00:13,880 --> 00:00:18,320 Welcome to episode 140 of FOMO Hour. 5 00:00:18,320 --> 00:00:22,320 Today is Tuesday, June 18th, 2024. 6 00:00:23,040 --> 00:00:25,920 All right, now for the Froak impressions. 7 00:00:25,920 --> 00:00:27,960 As you can tell, Froak is out today. 8 00:00:27,960 --> 00:00:31,760 Neither Froak or Mando are able to join us here on FOMO Hour. 9 00:00:31,760 --> 00:00:36,680 They're out gallivanting around Europe as we speak, enjoying the 10 00:00:36,680 --> 00:00:39,880 EUR. I'm getting Froak actually in 11 00:00:39,880 --> 00:00:41,440 bad pain. He's got this too thick 12 00:00:41,440 --> 00:00:44,640 situation and he's getting prepared for a huge week of 13 00:00:44,680 --> 00:00:47,200 events out there. So we wish him a good recovery 14 00:00:47,200 --> 00:00:50,440 here today. Rest up for you King. 15 00:00:50,640 --> 00:00:54,320 But with with broke out the lucky trader boys are taken 16 00:00:54,440 --> 00:00:57,160 over. I'm joined today by Logan 17 00:00:57,160 --> 00:00:59,800 Hitchcock. He is our Editor in Chief over a 18 00:00:59,800 --> 00:01:00,600 lucky trader. Folks. 19 00:01:00,600 --> 00:01:03,680 If you're not familiar, I think I could count on one hand the 20 00:01:03,680 --> 00:01:07,480 number of people who have been following the NFT market and 21 00:01:07,480 --> 00:01:11,440 this brought our crypto markets as closely as this guy has over 22 00:01:11,440 --> 00:01:15,880 the last three, 3 1/2 years. So excited to get into it with 23 00:01:15,880 --> 00:01:17,760 them here today. Logan, Jim, how you doing? 24 00:01:18,320 --> 00:01:22,240 Hey, good morning, Tyler. I'm doing well aside from 25 00:01:22,960 --> 00:01:26,160 refreshing the prices, which doesn't make you feel too great. 26 00:01:26,160 --> 00:01:29,240 I'm I'm happy to be here, excited to chat with you about 27 00:01:29,240 --> 00:01:30,280 all the things that are going on. 28 00:01:30,920 --> 00:01:32,000 Yeah, that was your first mistake. 29 00:01:32,080 --> 00:01:37,400 Checking prices was the the wrong thing to do this morning. 30 00:01:37,400 --> 00:01:40,360 But unfortunately some of us have had to check those prices. 31 00:01:40,360 --> 00:01:44,160 We will go through that. It is a a bloody day to to say 32 00:01:44,160 --> 00:01:47,160 the least. We will see if we can find some 33 00:01:47,160 --> 00:01:49,920 optimism out there for you all folks. 34 00:01:49,920 --> 00:01:52,640 So what are we talking about on deck for today? 35 00:01:52,640 --> 00:01:55,440 We're still going to run through a quicker daily market report. 36 00:01:56,000 --> 00:01:58,280 I'll, I'll do my Mando impression there. 37 00:01:58,280 --> 00:02:01,120 We've got Biden. He's attending the Bitcoin round 38 00:02:01,120 --> 00:02:05,160 conference round table here coming up in Washington, DC in 39 00:02:05,160 --> 00:02:09,560 July, Coinbase debuted their pre launch markets starting with 40 00:02:09,560 --> 00:02:13,880 that eigen token with some perps trading happening over there. 41 00:02:13,880 --> 00:02:17,600 Tether, they dropped a new stable coin tied to gold. 42 00:02:17,600 --> 00:02:20,520 That was an interesting one. We've got GameStop stock 43 00:02:20,520 --> 00:02:23,560 plummeting yesterday as a shareholder meeting really had 44 00:02:23,560 --> 00:02:27,200 no mentions of roaring Kitty. It feels like that saga is over 45 00:02:27,200 --> 00:02:31,400 and it's it's rough for that. GME token on Solana down 30%, 46 00:02:31,400 --> 00:02:34,280 which is basically how much all the tokens are down over on 47 00:02:34,280 --> 00:02:38,240 Solana and broader meme markets. Then we had this Trump token. 48 00:02:38,760 --> 00:02:41,920 Absolute chaos. We will go deep into the Trump 49 00:02:41,920 --> 00:02:45,600 token situation. We've got a hot new dog coin in 50 00:02:45,600 --> 00:02:49,240 the meme markets with Billy and then Theorem NFTS. 51 00:02:49,360 --> 00:02:52,480 We will spend a few minutes talking about our good old 52 00:02:52,480 --> 00:02:56,480 friends in the NFT market. It is a certainly a bloody 53 00:02:56,680 --> 00:03:01,360 morning for NFT enthusiasts. Folks before we dive in, want to 54 00:03:01,360 --> 00:03:03,840 give a shout out to our monthly partners. 55 00:03:03,840 --> 00:03:07,600 So first show is powered by Moon Pay to buy and sell crypto with 56 00:03:07,600 --> 00:03:12,040 PayPal, download the Moon Pay app and then follow Fair Side 57 00:03:12,040 --> 00:03:17,440 Network on Twitter or X Wallet coverage for drains, scams and 58 00:03:17,600 --> 00:03:19,120 more. Shout out to them and folks. 59 00:03:19,120 --> 00:03:23,600 Also a reminder to listen for the Intercellar code. 60 00:03:23,600 --> 00:03:27,680 We will be drawing a winner live at the end of the show. 61 00:03:28,000 --> 00:03:31,200 You'll have to go sign up at points dot intercellar dot IO 62 00:03:31,480 --> 00:03:34,280 and enter that code to be eligible. 63 00:03:34,280 --> 00:03:35,840 So make sure to to jump through those hoops. 64 00:03:35,840 --> 00:03:37,760 It'll be worth it. I think we've got some nice 65 00:03:37,760 --> 00:03:42,960 prizes on deck here for today with that that that's my intro. 66 00:03:42,960 --> 00:03:44,840 Logan, Are you ready for us to jump in here? 67 00:03:45,280 --> 00:03:47,320 Yeah, let's jump right in. All right. 68 00:03:47,320 --> 00:03:51,320 Well, I'll kick us off with the the market report here. 69 00:03:51,320 --> 00:03:57,760 Let me see if I can get my my screen share going just for a 70 00:03:57,760 --> 00:04:03,200 second. Let's see where are we here we 71 00:04:03,200 --> 00:04:05,680 are all right, we got the the screen share going. 72 00:04:05,680 --> 00:04:10,000 I'm going to walk us through some crypto prices, folks yeah a 73 00:04:10,120 --> 00:04:14,280 a little bit rough. So we've got Bitcoin 64,560. 74 00:04:14,280 --> 00:04:20,680 It's down 1% here on the day, E down 3 1/2 percent, 3380. 75 00:04:21,000 --> 00:04:26,560 Solana down seven percent, 133 not looking so great. 76 00:04:26,640 --> 00:04:29,680 And as we get down into the alts, a lot of the alts are down 77 00:04:29,680 --> 00:04:35,280 1011%. So a VAX down 10 percent, 2566 78 00:04:35,280 --> 00:04:38,520 unit swap down 14%, Polygon MATIC down 10%. 79 00:04:39,240 --> 00:04:42,360 Let me see, I was looking at arbitrary optimism here this 80 00:04:42,360 --> 00:04:44,880 morning. Yeah, so optimism down about 12% 81 00:04:44,880 --> 00:04:50,160 here, $0.77 similar story with optimism down 12%. 82 00:04:50,160 --> 00:04:55,760 And folks that the meme majors, it's a pretty similar story over 83 00:04:55,760 --> 00:04:59,000 there for them. So Doge down 11% at 11 cents. 84 00:04:59,000 --> 00:05:02,880 We've got Pepe down 11% now with down even more. 85 00:05:02,880 --> 00:05:05,040 Oh shit, I didn't see this down below 2 bucks. 86 00:05:05,040 --> 00:05:08,440 So let's see that dollar 95 down 17%. 87 00:05:08,440 --> 00:05:12,200 That's as low as as I can remember seeing it in quite some 88 00:05:12,200 --> 00:05:15,720 time. Bonk down 13%, the DOG token 89 00:05:15,720 --> 00:05:18,720 over on Bitcoin down 13% as well. 90 00:05:18,720 --> 00:05:23,680 So I think that the story is pretty much clear what's 91 00:05:23,680 --> 00:05:26,520 happening in the markets today. I think partially part of the 92 00:05:26,520 --> 00:05:29,880 driver ETF flows. We we talked on the show last 93 00:05:29,880 --> 00:05:31,520 week. So what's going to happen when 94 00:05:31,520 --> 00:05:35,760 the ETF flows flip negative? We were on an absolute heater 95 00:05:35,760 --> 00:05:39,680 into what through June 7th, I think we had 18 days of positive 96 00:05:39,680 --> 00:05:42,800 inflows in a row, even though at the end of that it became a 97 00:05:42,800 --> 00:05:46,360 little bit more obvious these were delta neutral trades. 98 00:05:46,360 --> 00:05:49,680 So we couldn't get too, you know, overconfident about it. 99 00:05:49,680 --> 00:05:53,680 But then in the last six days things have flipped back red. 100 00:05:53,680 --> 00:05:59,280 If you add this up, seeing what 260 nearly 500 nearly so about 101 00:05:59,280 --> 00:06:03,360 700 million in outflows in the last six business days. 102 00:06:03,360 --> 00:06:06,360 So that that's certainly not great to see. 103 00:06:06,360 --> 00:06:10,360 And even Sailor with the $700 million bid at at the table on 104 00:06:10,360 --> 00:06:16,600 Bitcoin doesn't seem to to be enough here to to be saving the, 105 00:06:16,760 --> 00:06:20,800 the, the markets. So I mean, I'll, I'll tell you, 106 00:06:21,320 --> 00:06:23,440 I mean, how are you feeling about all this? 107 00:06:23,440 --> 00:06:25,120 Were you prepared? Are you surprised? 108 00:06:26,440 --> 00:06:30,000 Still feel OK. You know, again, this is this is 109 00:06:30,000 --> 00:06:33,520 painful price action the last few days, especially after what 110 00:06:33,520 --> 00:06:35,200 was it? I think it maybe last Tuesday 111 00:06:35,200 --> 00:06:38,760 where we had that brief spike, very, very brief spike of 112 00:06:39,680 --> 00:06:43,920 excitement and and price action from the from the morning, which 113 00:06:43,920 --> 00:06:47,960 was pretty quickly squashed later that afternoon. 114 00:06:47,960 --> 00:06:50,720 And it's felt like a little bit of pain since that time. 115 00:06:51,280 --> 00:06:52,840 One of the things that was really interesting is you had 116 00:06:52,840 --> 00:06:56,800 pulled up though, you know, despite the pain I saw on the 117 00:06:57,920 --> 00:07:01,880 coin market cap fear and greed index was neutral. 118 00:07:03,680 --> 00:07:06,440 Surprising to me. It feels like we would be 119 00:07:06,440 --> 00:07:11,320 approaching fear at this point. But maybe I'm misreading 120 00:07:11,640 --> 00:07:14,120 sentiment from, from my own personal timeline. 121 00:07:14,120 --> 00:07:16,640 But I'm still feeling OK. Like I said, I'm trying to zoom 122 00:07:16,640 --> 00:07:21,320 out as as best as I possibly can and I feel like I'm doing an OK 123 00:07:21,320 --> 00:07:24,000 job of that emotionally. I'm not, you know, I'm not over 124 00:07:24,000 --> 00:07:26,280 trading, I'm not leveraged trading, doing anything crazy 125 00:07:26,280 --> 00:07:28,840 like that. Still, you know, adhering to my 126 00:07:28,840 --> 00:07:32,080 silly simple Coinbase dollar cost averages and sort of 127 00:07:32,720 --> 00:07:35,000 letting myself zoom out yesterday's morning minute 128 00:07:35,000 --> 00:07:38,240 newsletter that you you shared with some of the Coinbase 129 00:07:38,240 --> 00:07:43,560 optimism, no pun intended there, not not mentioning the but some 130 00:07:43,560 --> 00:07:45,240 of the Coinbase like the future optimism. 131 00:07:45,240 --> 00:07:48,160 It's so difficult for us to zoom out, you know, in in thoughts of 132 00:07:48,160 --> 00:07:51,720 years, but I'm trying my best to do so when the price goes down 133 00:07:51,720 --> 00:07:54,000 like this. Yeah, and I want to come back to 134 00:07:54,000 --> 00:07:57,040 that because I do want to give the some people the the optimism 135 00:07:57,040 --> 00:07:59,760 and the hope out there today. And I don't think enough people 136 00:07:59,760 --> 00:08:02,160 are talking about some of the takeaways from that Coinbase 137 00:08:02,160 --> 00:08:04,800 Summit. It was a pretty big deal last 138 00:08:04,800 --> 00:08:06,800 week. Shout out to Yano for all the 139 00:08:06,800 --> 00:08:09,720 work he did kind of putting his notes out there. 140 00:08:09,720 --> 00:08:12,320 But I guess the reading the timeline, Logan like this this 141 00:08:12,320 --> 00:08:15,280 weekend, it was terrible. And then I yesterday and in 142 00:08:15,280 --> 00:08:19,480 today, it feels even worse. Why does it feel so much worse 143 00:08:19,480 --> 00:08:21,840 this time? Is it because everyone was in 144 00:08:21,840 --> 00:08:24,640 the, the, the meme markets and we were touting the meme coin 145 00:08:24,640 --> 00:08:27,920 super cycle for the last three months and now they're all down 146 00:08:27,920 --> 00:08:30,320 50 percent, 60% from all time highs. 147 00:08:30,320 --> 00:08:34,559 Is that why it's worse? Because Bitcoin is 10% of all 148 00:08:34,559 --> 00:08:37,520 time highs here. Stocks are at all time highs. 149 00:08:37,520 --> 00:08:39,679 So broader markets are doing just fine. 150 00:08:40,799 --> 00:08:43,960 So why? I, I think that some of it is 151 00:08:43,960 --> 00:08:47,440 that, you know, if you're a, a risk trader like, you know, many 152 00:08:47,440 --> 00:08:50,600 of us are, you're seeing stocks go up. 153 00:08:50,600 --> 00:08:53,200 There's typically been that correlation that, you know, as 154 00:08:53,200 --> 00:08:57,480 stocks rip this, you know, is, is going to lead to crypto 155 00:08:57,480 --> 00:08:59,880 ripping as well. So I think that disconnect is 156 00:08:59,880 --> 00:09:04,120 painful as well as just the TS. I think, you know, we, we put so 157 00:09:04,120 --> 00:09:08,480 much stock in the fact that new all time highs, you know, huge, 158 00:09:08,480 --> 00:09:13,200 huge inflows, all of these types of things would lead towards 159 00:09:14,200 --> 00:09:16,640 higher Bitcoin price sooner rather than later. 160 00:09:16,640 --> 00:09:19,040 And we just haven't gotten it in that tease from last week. 161 00:09:19,040 --> 00:09:22,200 Super painful. And you know, there's there's 162 00:09:22,200 --> 00:09:25,800 just not much else happening, you know, aside from price 163 00:09:25,800 --> 00:09:27,720 action talk. I know we spent some time 164 00:09:27,720 --> 00:09:29,440 talking about it. There's not much else to talk 165 00:09:29,440 --> 00:09:34,080 about and so I think we just lead ourselves towards cycling 166 00:09:34,080 --> 00:09:37,400 when when there isn't anything else going on, or at least if it 167 00:09:37,400 --> 00:09:39,320 feels like there's not much else going on, I think we lead 168 00:09:39,320 --> 00:09:41,480 ourselves cycling towards whatever's happening with the 169 00:09:41,480 --> 00:09:43,320 price of Bitcoin. Whatever's happening with the 170 00:09:43,320 --> 00:09:46,840 price of our coins leads ourselves to feeling really bad 171 00:09:46,840 --> 00:09:50,000 if it's really bad and it's been really bad, and feeling really 172 00:09:50,000 --> 00:09:52,840 good if it's really good and we just haven't had too many of the 173 00:09:52,840 --> 00:09:56,240 really good days recently. Yeah, it feels that way. 174 00:09:56,240 --> 00:09:57,880 We were so close the end of March. 175 00:09:57,880 --> 00:10:01,640 I remember I was on vacation in Florida and with like doubled 176 00:10:01,640 --> 00:10:04,520 that week. That's when it hit $4.80 near 177 00:10:04,520 --> 00:10:08,040 the very end of March. And that's what that's, that's 178 00:10:08,040 --> 00:10:11,520 when everyone was like in general, they're, they're saying 179 00:10:11,520 --> 00:10:15,200 their, their target portfolio goals, maybe a 50% move away, 180 00:10:15,200 --> 00:10:19,360 maybe just a 2X away from some real substantial numbers. 181 00:10:19,360 --> 00:10:22,400 And it felt like we were so close and it felt very real for, 182 00:10:22,480 --> 00:10:25,360 for a lot of folks who were, who were trading that sector of the 183 00:10:25,360 --> 00:10:27,640 market. And then it has kind of been 184 00:10:27,640 --> 00:10:30,840 down only with some some glimpses of hope. 185 00:10:30,840 --> 00:10:34,600 And now it feels like a lot of that hope is gone. 186 00:10:34,600 --> 00:10:39,520 So we had Don all and he's been a notorious bear on the timeline 187 00:10:39,520 --> 00:10:43,080 here, antagonizing the whiff crowd, antagonizing some other 188 00:10:43,080 --> 00:10:45,040 crowds. You know, he had an interesting 189 00:10:45,040 --> 00:10:46,400 post. I thought he was basically 190 00:10:46,400 --> 00:10:49,920 calling out, he's pointing to the GME saga, the GameStop saga, 191 00:10:50,400 --> 00:10:54,120 and, and basically saying it was a let down that, you know, when 192 00:10:54,120 --> 00:10:57,160 you never really saw the fireworks roaring Kitty. 193 00:10:57,160 --> 00:11:01,240 He's, he's got his stocks now, but it doesn't seem like much 194 00:11:01,240 --> 00:11:03,640 else is happening. And, and we're not really seeing 195 00:11:04,560 --> 00:11:08,280 a crazy parabolic move. And and he's saying that's kind 196 00:11:08,280 --> 00:11:11,560 of a sign that there isn't as much dumb money out there this 197 00:11:11,560 --> 00:11:16,080 cycle as there was in 2021. And it's it's just a bad sign 198 00:11:16,080 --> 00:11:18,280 for memes in general. So I'm curious for your thoughts 199 00:11:18,280 --> 00:11:20,720 on that. Do you think memes are in in 200 00:11:20,720 --> 00:11:25,040 broader trouble now? Is the GME saga like the Canary 201 00:11:25,040 --> 00:11:27,600 in the coal mine that there isn't as much dumb money as we 202 00:11:27,720 --> 00:11:30,000 thought? Did we go to left curve? 203 00:11:30,360 --> 00:11:31,760 What are your thoughts on this look? 204 00:11:32,080 --> 00:11:34,560 That's an interesting perspective and I, I can 205 00:11:34,560 --> 00:11:38,120 actually, I can see that or how you would draw that conclusion, 206 00:11:38,120 --> 00:11:43,840 right, that this just hasn't LED itself to the, the same level of 207 00:11:43,840 --> 00:11:48,040 reverberation that we saw with dumb money in, in 2021, if you 208 00:11:48,040 --> 00:11:50,400 want to call it dumb money. I'm not particularly concerned 209 00:11:50,400 --> 00:11:54,800 about the meme market overall. You know, it's an expansive 210 00:11:54,800 --> 00:11:56,480 market. It does feel like the winners 211 00:11:56,480 --> 00:11:59,840 are shrinking, but I think we all expected that to a certain 212 00:11:59,840 --> 00:12:01,760 degree, did we not? I mean, we, we've been calling 213 00:12:01,760 --> 00:12:06,080 for a select handful of coins to be the, the real winners that 214 00:12:06,080 --> 00:12:10,040 extend themselves into that five $10 billion range. 215 00:12:12,160 --> 00:12:15,000 You know, did we get a little over our laurels with, with too 216 00:12:15,000 --> 00:12:16,960 many coins running up at the same time? 217 00:12:17,160 --> 00:12:21,320 Maybe I'm not overly concerned. I still feel OK about some of 218 00:12:21,320 --> 00:12:23,240 those top, you know, top top coins. 219 00:12:23,360 --> 00:12:27,040 Pepe it, it, it is a little jarring to see whiff under 2, 220 00:12:27,040 --> 00:12:30,840 but I, I, I wouldn't be too concerned about those overall. 221 00:12:30,880 --> 00:12:34,400 And then does that make me feel better about all those cat coins 222 00:12:34,400 --> 00:12:35,680 that might be running to a billion? 223 00:12:36,080 --> 00:12:38,520 Probably not. No, I don't feel super great 224 00:12:38,520 --> 00:12:41,320 about those. Yeah, that's where I was going 225 00:12:41,320 --> 00:12:44,880 next is, is what does this mean for like the newer tokens? 226 00:12:44,880 --> 00:12:49,680 Like do you think they have lower shelf lives, they have 227 00:12:49,680 --> 00:12:57,440 lower ceilings now than they perhaps did just, you know, a 228 00:12:57,440 --> 00:13:00,280 few weeks back? So Billy is is one that that 229 00:13:00,280 --> 00:13:05,120 comes to mind. We saw just a parabolic run up 230 00:13:05,120 --> 00:13:08,640 in its first day. The thing reached 5060 million. 231 00:13:08,640 --> 00:13:12,440 I mean, it looks like it it wicked past 70 million. 232 00:13:13,080 --> 00:13:15,560 You know, we're feeling great. Is this the new billion dollar 233 00:13:15,560 --> 00:13:19,320 dog coin now you know, it's starting to come back down to 234 00:13:19,320 --> 00:13:22,440 earth. It's pulled back 50% from from 235 00:13:22,440 --> 00:13:26,880 peak at at 27,000,000. Do you think new tokens like 236 00:13:26,880 --> 00:13:30,800 Billy have a shot in this market or is is this kind of where 237 00:13:30,800 --> 00:13:32,400 they're that they're destined to run? 238 00:13:32,400 --> 00:13:34,320 We can see go up to 50 to 100 bucks. 239 00:13:34,320 --> 00:13:37,400 Can be hard to get past that. It does feel like there's a 240 00:13:37,400 --> 00:13:40,840 barrier there, a, a very clear barrier that you have to, you 241 00:13:40,880 --> 00:13:43,880 have to push through if you're going to be an actual winner. 242 00:13:43,880 --> 00:13:46,600 And we haven't seen any of these, we haven't seen any of 243 00:13:46,600 --> 00:13:51,440 these push through. I, I do think there's room for 244 00:13:51,440 --> 00:13:57,440 a, a winner or two, you know, the, the Pepe, the Shiba Floki, 245 00:13:57,440 --> 00:13:59,760 like those types of tokens, you know, that's what two or three 246 00:13:59,760 --> 00:14:01,600 pretty clear winners from the last cycle. 247 00:14:02,520 --> 00:14:04,800 You know, I, I think we can see something similar. 248 00:14:04,800 --> 00:14:06,560 Do we have that count at present time? 249 00:14:06,560 --> 00:14:11,000 Like probably not just yet. So I, I think, I think we could 250 00:14:11,000 --> 00:14:14,600 see, I don't necessarily think that Billy is the one, although 251 00:14:14,600 --> 00:14:16,680 very cute dog. So it's, it's tough to, you 252 00:14:16,680 --> 00:14:20,120 know, it's tough to just, you know, push that, push that out 253 00:14:20,120 --> 00:14:23,680 of the way. There's just like a lot that has 254 00:14:23,680 --> 00:14:25,720 to go right. Like I, I think you, you really 255 00:14:25,720 --> 00:14:29,240 felt it with, with like, you know, the, the meme, the 256 00:14:29,240 --> 00:14:32,400 community behind it, the like, kind of just the time and place 257 00:14:32,400 --> 00:14:34,200 in the market. Like all those things really 258 00:14:34,200 --> 00:14:36,360 need to come together. You have to like find a perfect 259 00:14:36,360 --> 00:14:39,920 confluence of events to push a meme, you know, to the levels 260 00:14:39,920 --> 00:14:42,640 that it did. I I think we need to somehow 261 00:14:42,640 --> 00:14:45,320 find that level of storm again. If you're going to see one of 262 00:14:45,320 --> 00:14:49,360 these new tokens push beyond, I mean one of those and and not 263 00:14:49,360 --> 00:14:52,320 the segue for you, Tyler, but like the DJT type stuff. 264 00:14:52,320 --> 00:14:55,280 I mean that would be like the confluence of events you need, 265 00:14:55,280 --> 00:14:56,840 right? You kind of have the celeb meta, 266 00:14:56,840 --> 00:15:00,000 you have the election stuff, you have meme coins, you have trump. 267 00:15:00,280 --> 00:15:03,040 Like that's the perfect storm. That's the number of ingredients 268 00:15:03,040 --> 00:15:05,160 that are probably required to really push something. 269 00:15:05,480 --> 00:15:07,880 I don't know that you just get there with a meme right now. 270 00:15:08,800 --> 00:15:10,560 You know, I I personally don't think you do. 271 00:15:10,560 --> 00:15:13,360 I don't think we've seen that from any one particular meme 272 00:15:13,360 --> 00:15:17,320 outside of with this cycle, right, Any new any new meme? 273 00:15:18,080 --> 00:15:20,480 Have we anything that's front up that high? 274 00:15:20,480 --> 00:15:22,640 I don't I don't think so. I mean I don't think it counts. 275 00:15:22,640 --> 00:15:24,720 Boom, really boom. I don't think it counted. 276 00:15:24,720 --> 00:15:26,840 It didn't get of course, to width levels. 277 00:15:26,840 --> 00:15:31,360 But I mean, there's you need, you need more than just I think 278 00:15:31,360 --> 00:15:34,320 you need more than just the meme, despite, you know, them 279 00:15:34,320 --> 00:15:38,480 being labeled as meme coins. Well, you know, perhaps that is 280 00:15:38,480 --> 00:15:41,920 a good say and we can just start talking about the what is the, 281 00:15:42,480 --> 00:15:46,200 the big story of the day. I, I wasn't sure if this was 282 00:15:46,200 --> 00:15:49,520 going to be a, a real story that everyone really ran with it. 283 00:15:49,520 --> 00:15:51,480 So I'm going to, I'm going to walk us through this whole 284 00:15:52,200 --> 00:15:55,360 Donald Trump launching a meme coin saga. 285 00:15:55,360 --> 00:15:59,240 So we saw absolute chaos break out in the meme coin market 286 00:15:59,240 --> 00:16:03,240 yesterday evening after reports that a Trump backed meme coin, 287 00:16:03,680 --> 00:16:07,160 DJT, had launched with the help of Baron Trump. 288 00:16:07,640 --> 00:16:12,360 Now, about 12-14 hours later, it's still very unclear how real 289 00:16:12,360 --> 00:16:16,920 any of this is, but the question is, does that even matter? 290 00:16:16,920 --> 00:16:20,200 So what happened at 6:00 PM Eastern last night? 291 00:16:20,200 --> 00:16:23,640 Pirate Wires posted the following I'm quoting. 292 00:16:23,640 --> 00:16:27,320 Per conversations, Trump is launching an official token DJT 293 00:16:27,320 --> 00:16:31,160 on Solana. Baron Spearheadach Pirate Wires 294 00:16:31,160 --> 00:16:35,240 Editor in Chief Mike Solana then replied with a contract address 295 00:16:35,240 --> 00:16:37,680 pointing to the DJ token on Solana. 296 00:16:37,920 --> 00:16:43,080 This news spread like wildfire. Very several notable notable 297 00:16:43,080 --> 00:16:47,120 figures reposting this, some asking if it was real or if a 298 00:16:47,120 --> 00:16:50,840 hack had taken place, while others just simply mark it about 299 00:16:50,840 --> 00:16:55,720 the token which began to soar. It went up 150% in the first 300 00:16:55,800 --> 00:16:59,800 hour or so after the news broke. Then it fell, then it soared 301 00:16:59,800 --> 00:17:02,840 overnight. It reached about 375,000,000 at 302 00:17:02,840 --> 00:17:06,359 peak, went back to 250 million. Now it's closing in on 300 303 00:17:06,359 --> 00:17:09,079 million again. So now I think the question 304 00:17:09,079 --> 00:17:13,520 still is out there, is this real or not the factors at play that 305 00:17:13,520 --> 00:17:16,920 made me a little bit suspicious and raised my guard, especially 306 00:17:16,920 --> 00:17:19,880 after the whole Hulk Hogan situation that played out last 307 00:17:19,880 --> 00:17:23,280 week. 1 Mike Solano replying with the contact address to a 308 00:17:23,280 --> 00:17:26,640 new story that doesn't really feel typical for like an editor 309 00:17:26,640 --> 00:17:30,080 in chief to do. The fact that this token has 310 00:17:30,080 --> 00:17:32,880 existed since May. It's not a new token. 311 00:17:32,880 --> 00:17:35,240 It's not a new launch. That surprised me. 312 00:17:35,480 --> 00:17:38,280 Bubble maps came in, they waited on the this conversation saying 313 00:17:38,280 --> 00:17:41,960 that the single cluster held 67% of the tokens and then the 314 00:17:41,960 --> 00:17:44,720 funding wallets pulled from Kukorn. 315 00:17:44,720 --> 00:17:47,480 Kukorn which is blocked for US residents. 316 00:17:47,480 --> 00:17:51,480 So that combination of factors plus this this general stealth 317 00:17:51,480 --> 00:17:55,200 style launch LED many, myself included, to believe this could 318 00:17:55,200 --> 00:17:58,560 not possibly be a a real Trump token. 319 00:17:58,560 --> 00:18:02,440 But again, doesn't matter, the market is at least responding 320 00:18:02,440 --> 00:18:05,480 here in the short term. Tokens at $300 million and it is 321 00:18:05,480 --> 00:18:09,560 destroyed the rest of the Trump tokens out there in the market. 322 00:18:09,560 --> 00:18:14,120 So the Trump token on ETH down 30% to 335,000,000. 323 00:18:14,120 --> 00:18:18,400 Mega down 8 percent, 78,000,000 this morning, trimped down 40% 324 00:18:18,800 --> 00:18:23,640 to 56 million. Bowden down 25% to 75,000,000. 325 00:18:24,240 --> 00:18:28,360 So there's some serious impacts to this in in the broader polyfi 326 00:18:28,520 --> 00:18:31,760 market, whether or this is whether or not this is actually 327 00:18:31,920 --> 00:18:34,920 the real Trump token or not. I guess, Logie, there's a lot to 328 00:18:34,920 --> 00:18:38,520 unpack in the situation. First question for you, is this, 329 00:18:39,080 --> 00:18:42,240 what was this the real? Is this really a Donald Trump 330 00:18:42,240 --> 00:18:45,880 toker? Man, I think the jury is still 331 00:18:45,880 --> 00:18:49,240 out. I only know, you know, for a for 332 00:18:49,240 --> 00:18:52,280 a variety of reasons, my skepticism alarm was immediately 333 00:18:52,280 --> 00:18:53,840 raised. I posted in a group chat that we 334 00:18:53,840 --> 00:18:55,800 have like, there's no way this is real. 335 00:18:55,800 --> 00:18:57,440 Like this is this has to be a hack. 336 00:18:57,440 --> 00:19:01,080 But you know, over the course of time, don't you think we would 337 00:19:01,080 --> 00:19:07,160 have found out in some other way if Mike Solana, he would have 338 00:19:07,560 --> 00:19:09,720 from some other account, right? He would have said, hey, this 339 00:19:09,720 --> 00:19:12,040 isn't me, whatever. Those things haven't come out. 340 00:19:12,040 --> 00:19:13,920 And in fact, I think he still sent tweets. 341 00:19:13,920 --> 00:19:16,800 I don't know how what the most recent tweet is, but you know, 342 00:19:16,800 --> 00:19:20,360 he sent additional tweets on top of just that first one. 343 00:19:21,480 --> 00:19:23,480 It's wild. I mean, there's there's just so 344 00:19:23,480 --> 00:19:26,000 much at play here. And I'm not, of course, I'm not 345 00:19:26,000 --> 00:19:29,880 the the guy that knows anything about the law or, you know, very 346 00:19:29,880 --> 00:19:33,360 clear not there is a lot of clarity regarding regulatory 347 00:19:33,360 --> 00:19:34,880 issues. But like this just seems like 348 00:19:34,880 --> 00:19:37,680 something that like, why would Trump get himself involved here? 349 00:19:37,680 --> 00:19:41,400 Seems like a lot of potential conflicts of interest with, you 350 00:19:41,400 --> 00:19:44,400 know, a looming campaign, a major campaign in an election 351 00:19:44,400 --> 00:19:46,360 later this year. I don't really know. 352 00:19:46,360 --> 00:19:50,240 But if it's Baron, you know, like a silly teenage kid or 353 00:19:50,240 --> 00:19:52,880 whatever that that wants to do something with his friends. 354 00:19:54,240 --> 00:19:57,600 Yeah, maybe, maybe it could be a a real thing. 355 00:19:57,760 --> 00:20:00,120 I still lean. I still lean that it's not. 356 00:20:00,840 --> 00:20:02,720 It's been a wild story nonetheless. 357 00:20:02,720 --> 00:20:05,200 It happened to be one that I saw pretty quickly, but I actually 358 00:20:05,200 --> 00:20:08,440 saw the tweet from Joe McCann. I don't know if you know Joe 359 00:20:08,440 --> 00:20:11,880 McCann. I saw his tweet about it and all 360 00:20:11,880 --> 00:20:16,640 I did Tyler and I don't, I don't recommend this in any way. 361 00:20:16,640 --> 00:20:20,120 But as silly as it is, like all I did was go to text screen or 362 00:20:20,120 --> 00:20:23,680 type in DJT and I bought the first thing that I saw and I 363 00:20:23,680 --> 00:20:26,520 didn't care if it was real or not, which is again, horrible 364 00:20:26,520 --> 00:20:28,840 precedent. It goes against everything that 365 00:20:28,840 --> 00:20:30,760 I've been working for for the last three years, right? 366 00:20:30,760 --> 00:20:32,920 I spent so much of my time trying to work on finding 367 00:20:32,920 --> 00:20:37,920 objective, factual information. But with meme coins, like it 368 00:20:37,920 --> 00:20:40,040 doesn't seem to matter, right? If it, if it's going to gather 369 00:20:40,040 --> 00:20:44,800 attention again, I, I don't condone that, you know, but it 370 00:20:44,800 --> 00:20:47,920 wasn't even the real DJT. It wasn't the one that Mike was 371 00:20:47,920 --> 00:20:49,880 posting about. It was that Trump technologies 372 00:20:49,880 --> 00:20:54,280 one, which just adds additional levels to the absurdity of all 373 00:20:54,280 --> 00:20:56,720 this. There's like 100 DJT tokens now. 374 00:20:57,560 --> 00:21:00,160 Yeah, it it was very hard to find like unless you had the the 375 00:21:00,160 --> 00:21:04,080 mix Solana contract editor. So it was hard to find the right 376 00:21:04,080 --> 00:21:05,240 one. I think what else I mean, what 377 00:21:05,280 --> 00:21:11,160 what makes this more intriguing? And so Mike Salah keeps doubling 378 00:21:11,160 --> 00:21:13,120 down on this, right? So like he he came out, he 379 00:21:13,120 --> 00:21:15,560 posted last night and I'm quoting getting a lot of inbound 380 00:21:15,560 --> 00:21:17,000 here. No, didn't speak with Trump 381 00:21:17,000 --> 00:21:19,040 directly. Assume this was clear. 382 00:21:19,080 --> 00:21:21,640 Also assume he could rug pull or pivot say it's not true. 383 00:21:21,640 --> 00:21:25,960 Just reporting what I know via sources and then he kind of goes 384 00:21:25,960 --> 00:21:28,800 on to say he he's tired of reporting on anything crypto 385 00:21:28,840 --> 00:21:31,920 related after the the backlash, but he's doubling down. 386 00:21:31,920 --> 00:21:34,520 Like Joe McCann. I think he posted a video of 387 00:21:34,520 --> 00:21:36,840 himself trying to prove that he wasn't hacked. 388 00:21:37,160 --> 00:21:40,080 You know, Celkis who goes by the handle 2 bit idiot. 389 00:21:40,080 --> 00:21:43,800 He was saying that he's been in circles where he feels like 390 00:21:43,800 --> 00:21:49,320 there's a 50% chance that this is real and there is a team tied 391 00:21:49,320 --> 00:21:51,600 to the president who has launched a token. 392 00:21:52,200 --> 00:21:56,400 Even Mando, I think tweeted something about him hearing in 393 00:21:56,400 --> 00:21:59,920 circles that this is that there's a Trump, or at least 394 00:21:59,920 --> 00:22:01,760 it's been talked about. I feel like I saw a tweet like 395 00:22:01,760 --> 00:22:02,880 that. Maybe I'm maybe I'm just 396 00:22:02,880 --> 00:22:04,840 dreaming it up since I'm sitting in the chair. 397 00:22:04,840 --> 00:22:09,040 But too many, too many coincidental things there, 398 00:22:09,040 --> 00:22:12,040 Tyler, you know, like, like I said, I mean, the fact that that 399 00:22:12,040 --> 00:22:14,960 Mike is doubling down and there has not been a tweet from some 400 00:22:14,960 --> 00:22:17,120 other account. The tweets have not been 401 00:22:17,120 --> 00:22:18,800 deleted. There hasn't been an immediate 402 00:22:18,800 --> 00:22:21,320 retraction of, OK, this is very clearly false. 403 00:22:23,480 --> 00:22:25,040 It's just it makes it really difficult. 404 00:22:25,040 --> 00:22:28,960 But all those other things, the token being created long ago, 405 00:22:29,360 --> 00:22:34,120 the cluster maps or bubble maps stuff, you know, those are the 406 00:22:34,120 --> 00:22:36,720 ones where it's like is OK, I can see a token being real. 407 00:22:36,720 --> 00:22:39,800 Is this the real token? Who knows? 408 00:22:39,800 --> 00:22:42,800 And then you to your point to begin the show, the opening 409 00:22:42,800 --> 00:22:45,560 here, does it matter if it's the real one or not? 410 00:22:45,560 --> 00:22:48,920 Like the market may have decided not to say that, you know, if 411 00:22:48,920 --> 00:22:52,280 Trump came out, of course, and you know, and said, or, you 412 00:22:52,280 --> 00:22:54,400 know, somebody close to him came out and said, no, this is the 413 00:22:54,400 --> 00:22:57,120 real token. You know, we, we would see, just 414 00:22:57,120 --> 00:22:59,760 like we saw the exodus and all those other meme coins, you 415 00:22:59,760 --> 00:23:02,000 know, to this one. We we would see AI think a mass 416 00:23:02,000 --> 00:23:06,040 sell off in a a, you know, just a massive inflow into whatever 417 00:23:06,040 --> 00:23:08,760 coin is deemed to be the real one. 418 00:23:09,680 --> 00:23:13,840 Yeah, that's the concern. So I think it doesn't matter for 419 00:23:13,840 --> 00:23:18,240 like the the hyper short term, but if Trump does come out or 420 00:23:18,240 --> 00:23:20,720 someone on his team does come out and say, you know, there we 421 00:23:20,720 --> 00:23:25,280 do have token plans, but it's not this one and this one nukes 422 00:23:25,320 --> 00:23:27,640 and then beep. I mean, probably all the others 423 00:23:28,120 --> 00:23:30,880 nuke as well. So I guess were you surprised 424 00:23:31,440 --> 00:23:35,000 that all of the other Trump tokens just immediately fell off 425 00:23:35,000 --> 00:23:37,640 a Cliff in the aftermath? Because that was clearly one of 426 00:23:37,640 --> 00:23:40,680 the the biggest impacts of all of this. 427 00:23:41,160 --> 00:23:45,000 Yeah, no, I was surprised because I felt like after a 428 00:23:45,000 --> 00:23:46,680 certain period of time, the market was coming to the 429 00:23:46,680 --> 00:23:49,720 realization that since we hadn't had any other additional 430 00:23:50,240 --> 00:23:53,440 clarification that it wasn't real. 431 00:23:53,440 --> 00:23:55,120 You know, like that was my expectation. 432 00:23:55,280 --> 00:23:59,040 And actually that's the way that I, I played this as well was I 433 00:23:59,040 --> 00:24:02,600 very quickly realized it like something doesn't seem up here. 434 00:24:03,360 --> 00:24:06,280 And so I sold, you know, and I bought the wrong one anyway, 435 00:24:06,280 --> 00:24:09,560 Full disclosure. So like it didn't matter for me 436 00:24:09,560 --> 00:24:13,400 in particular, but that's the way I, I think I was always 437 00:24:13,400 --> 00:24:16,840 going to play this if I found out that like there was not 438 00:24:16,840 --> 00:24:19,840 another confirmation, another level of confirmation from some 439 00:24:19,840 --> 00:24:22,840 other source. And that's the way I expected 440 00:24:22,840 --> 00:24:24,760 others to play it. It's like, OK, you know, this 441 00:24:24,760 --> 00:24:27,520 was a, we got really excited. You know, you had the chance to 442 00:24:27,520 --> 00:24:29,880 be super early to something, but now we don't know that it's 443 00:24:29,880 --> 00:24:32,800 real. So like, it'll cool down, right? 444 00:24:32,800 --> 00:24:34,480 We'll we'll wait for something else. 445 00:24:36,280 --> 00:24:37,600 Yeah. And those other tokens, like 446 00:24:37,600 --> 00:24:39,760 they don't rely on Trump in any way, right? 447 00:24:39,760 --> 00:24:42,000 They didn't, they don't need anything to be real or fake or 448 00:24:42,000 --> 00:24:43,920 whatever. They sort of already exist and 449 00:24:43,920 --> 00:24:48,160 have created their whatever, I mean, their communities and 450 00:24:48,160 --> 00:24:51,240 beyond. So it it is, it is surprising, 451 00:24:51,720 --> 00:24:54,960 but it it showcases an interesting precedent, Tyler, 452 00:24:54,960 --> 00:24:59,960 for if and when you have celeb coin type stuff, political coin 453 00:24:59,960 --> 00:25:02,160 type stuff. I mean, if it ever becomes real, 454 00:25:02,160 --> 00:25:05,520 I mean, this is precedent that showcases that, you know, if 455 00:25:05,520 --> 00:25:08,080 Trump launches one, if Biden's not going to launch one. 456 00:25:08,080 --> 00:25:10,720 But if he did right or any of these people launch one, 457 00:25:10,720 --> 00:25:14,800 actually, the others are in trouble and you should flock to 458 00:25:14,800 --> 00:25:16,760 the real one, you know, most likely. 459 00:25:17,000 --> 00:25:19,480 So interesting precedent to see. But then it did surprise me. 460 00:25:20,120 --> 00:25:23,040 Yeah, I think all the the Trump related polyphy tokens are 461 00:25:23,040 --> 00:25:25,160 absolutely cooked. I think they might already be 462 00:25:25,160 --> 00:25:28,880 cooked. I think they are kind of just 463 00:25:28,880 --> 00:25:33,320 drawing dead now into just the non 0 probability that Trump is 464 00:25:33,320 --> 00:25:36,840 going to launch his own token, which is just such a which is 465 00:25:36,840 --> 00:25:39,600 such a risk. And I guess are you prepared? 466 00:25:39,640 --> 00:25:42,360 Are you prepared for the scenario where let's say this 467 00:25:42,360 --> 00:25:46,320 Friday, Logan Trump comes up and says we are launching a token 468 00:25:46,320 --> 00:25:50,480 and it's called Donald Trump on Solana. 469 00:25:50,960 --> 00:25:54,920 Are you prepared for the chaos that's going to play out in the 470 00:25:54,920 --> 00:25:57,680 market? And Friday I should check my 471 00:25:57,680 --> 00:26:01,160 Friday schedule. No, I, I don't think I am 472 00:26:01,160 --> 00:26:05,320 prepared. It's one of those situations, 473 00:26:05,480 --> 00:26:09,120 again, not financial advice, of course, but like if you're early 474 00:26:09,120 --> 00:26:14,520 to seeing Trump validate a token in some way, it's a full jam 475 00:26:14,520 --> 00:26:17,760 situation. Like, you know, within reason, 476 00:26:17,760 --> 00:26:19,760 of course, right. Like maybe not your, your entire 477 00:26:19,760 --> 00:26:22,000 Solana stack, but like if you have a, a meme coin stack 478 00:26:22,000 --> 00:26:25,200 sitting aside, like it would be very difficult not to just Chuck 479 00:26:25,200 --> 00:26:28,080 it in there. If he, if he's going to stand 480 00:26:28,080 --> 00:26:32,600 behind something for real. I'm not, I'm I'm not prepared at 481 00:26:32,600 --> 00:26:37,480 present time. No, I I'm not. 482 00:26:38,000 --> 00:26:40,680 And also too, I mean, just the the ripple effects. 483 00:26:40,680 --> 00:26:42,440 It is something that, you know, we're just talking about with 484 00:26:42,440 --> 00:26:45,680 his coins in particular. But think about the the 485 00:26:45,680 --> 00:26:49,560 potential, you know, this would be suck from I think every meme 486 00:26:49,560 --> 00:26:53,560 coin. That would be my guess, yeah. 487 00:26:54,000 --> 00:26:56,680 So I'm in Group chats where folks were, were saying last 488 00:26:56,680 --> 00:27:00,040 night, they're going to sell everything, all the Solana meme 489 00:27:00,040 --> 00:27:05,760 coins they've got and just load up and be ready in case Trump 490 00:27:05,760 --> 00:27:08,720 does launch a token. Because like I, as you mentioned 491 00:27:08,720 --> 00:27:12,800 it, it's, it's the the easiest shove all in play that that we 492 00:27:12,800 --> 00:27:14,280 could imagine. We've already seen how high 493 00:27:14,280 --> 00:27:18,560 these can go and that that's happening against this backdrop 494 00:27:18,560 --> 00:27:21,520 where the memes are already going down so much anyways. 495 00:27:21,520 --> 00:27:24,880 And it doesn't feel like, hey, guys, I'm, I'm holding my core 496 00:27:24,880 --> 00:27:29,040 positions through all this and it is very painful, but I, I'd 497 00:27:29,040 --> 00:27:32,000 be lying if I didn't say like, it feels like a time to take 498 00:27:32,000 --> 00:27:35,840 some of this off and then, you know, perhaps buy back and lower 499 00:27:36,200 --> 00:27:39,400 or just rotate to Seoul Bitcoin majors. 500 00:27:39,440 --> 00:27:42,200 Anyway. So it's this confluence of 501 00:27:42,200 --> 00:27:47,480 events where I, I think that this is partially why that we're 502 00:27:47,480 --> 00:27:49,080 seeing some of the stuff. And there's a whole lot of 503 00:27:49,080 --> 00:27:51,880 reasons like the whole Bitcoin going down the market going 504 00:27:51,880 --> 00:27:56,440 down, lack of confidence in the memes sled meta going off the 505 00:27:56,440 --> 00:28:00,040 rails, pumped up fun launching a million tokens a month. 506 00:28:00,040 --> 00:28:03,920 All this is is tying together. It's seemingly kind of coming to 507 00:28:03,960 --> 00:28:07,000 a head here. I don't know I I've got some 508 00:28:07,960 --> 00:28:11,280 some concerns about how it would play out and I guess I'm not 509 00:28:11,280 --> 00:28:14,400 ready self self rating myself, but I haven't really sold 510 00:28:14,400 --> 00:28:16,200 anything. I haven't built much of A liquid 511 00:28:16,200 --> 00:28:18,560 position to to really go after this. 512 00:28:18,560 --> 00:28:23,760 So I meant to do some thinking, but does that jibe with you or 513 00:28:24,000 --> 00:28:26,280 or any other final thoughts on this before we move on looking? 514 00:28:26,600 --> 00:28:28,120 Yeah. I mean, I was just loading up 515 00:28:28,120 --> 00:28:30,680 off to the side here. Some of those token prices like 516 00:28:30,800 --> 00:28:34,200 MOTHER down to 75 million, some of these other things. 517 00:28:34,840 --> 00:28:36,400 Again, so many variables at play. 518 00:28:36,680 --> 00:28:42,000 But, you know, if you really have any level of conviction and 519 00:28:42,000 --> 00:28:45,080 hearing it from people like, you know, Celkis or like, you know, 520 00:28:45,240 --> 00:28:47,920 like I said, I think Mando tweeted about it that there's 521 00:28:47,920 --> 00:28:50,680 actual consideration for a token, whether it be last 522 00:28:50,680 --> 00:28:55,480 night's or not. Boy, yeah, it does give great 523 00:28:55,480 --> 00:28:57,400 pause to the bags that I I hold right now. 524 00:28:57,400 --> 00:28:59,000 And I'm not holding a lot of memes. 525 00:28:59,000 --> 00:29:01,560 I have like a Popcap bag and like, you know, some other ones 526 00:29:01,560 --> 00:29:05,200 that you feel OK going to bed and like, you probably don't 527 00:29:05,200 --> 00:29:09,040 wake up at 0 type memes. But yeah, I mean, it gives a lot 528 00:29:09,040 --> 00:29:13,360 of pause. It, it makes me want to after 529 00:29:13,360 --> 00:29:17,480 the show, you know, sit down and think about what way do I need 530 00:29:17,480 --> 00:29:21,000 to be prepared if I'm on the golf course on a Friday 531 00:29:21,000 --> 00:29:23,720 afternoon and token drop, You know, like I, I'm, you don't. 532 00:29:23,720 --> 00:29:25,280 Want to be on a golf course when this drops? 533 00:29:25,280 --> 00:29:27,360 Unless you've got your mobile wallet really loaded up. 534 00:29:27,840 --> 00:29:31,480 Right. I, I'm, I'm like horrendously 535 00:29:31,800 --> 00:29:35,560 underprepared both from an operational standpoint, you 536 00:29:35,560 --> 00:29:39,280 know, to be secure and maybe touching grass. 537 00:29:39,760 --> 00:29:43,760 I wore my Wimbledon hat cause grass court tennis season, so 538 00:29:43,760 --> 00:29:46,840 lots of grass touching, at least in this household right now. 539 00:29:48,040 --> 00:29:50,440 I'm not, I'm not prepared and it's going to be, it's going to 540 00:29:50,440 --> 00:29:53,640 be difficult, but you might have a like just an incredible 541 00:29:53,640 --> 00:29:57,200 opportunity if you, if you get to it, if it's real, if it's 542 00:29:57,200 --> 00:30:00,840 early, you know, we can only dream of a scenario like that, 543 00:30:00,840 --> 00:30:05,480 to be honest. But I already know that, you 544 00:30:05,480 --> 00:30:08,560 know, should that scenario come to fruition, I am likely not the 545 00:30:08,560 --> 00:30:09,960 winner. I'm likely. 546 00:30:09,960 --> 00:30:13,760 That's another painful angle of all this like DJT no one really 547 00:30:13,760 --> 00:30:15,880 got in less than like 50 million. 548 00:30:16,880 --> 00:30:18,920 So like this this. I feel like the scenarios of 549 00:30:19,040 --> 00:30:22,280 like the width where you could actually buy into like a 50K 550 00:30:22,760 --> 00:30:26,760 market cap meme or 100K more sub than one million. 551 00:30:26,760 --> 00:30:29,440 I feel like those days are just like behind us. 552 00:30:29,520 --> 00:30:32,480 Like it just feels so, so hard for the average market 553 00:30:32,480 --> 00:30:37,000 participant who's not sniping, you know, dozens per day to get 554 00:30:37,000 --> 00:30:38,320 in there. I think that that perhaps is 555 00:30:38,320 --> 00:30:41,560 taking some of the fun out of this as well, at least some of 556 00:30:41,560 --> 00:30:44,040 the upside. Well, I want to switch gears. 557 00:30:44,040 --> 00:30:48,080 I want to talk Ethan FTS because we have to. 558 00:30:48,080 --> 00:30:51,440 It's it's it's one of the biggest stories, you know, 559 00:30:51,440 --> 00:30:55,000 running around yesterday. Let me try to pull up Blur here 560 00:30:55,440 --> 00:31:01,200 while while we talk about this. But yesterday the big news CBB 561 00:31:01,200 --> 00:31:06,240 #1 Blur farmer, he's got 45% of season three points, so he's 562 00:31:06,240 --> 00:31:08,200 just dominating. He has more points than the next 563 00:31:08,200 --> 00:31:12,560 two through 50 farmers on Blur. He announced that he is pulling 564 00:31:12,560 --> 00:31:15,320 the bids. He has enough points for season 565 00:31:15,320 --> 00:31:17,000 three and he's going to take a few weeks off. 566 00:31:17,000 --> 00:31:21,000 He also announced they took a $4.5 million loss on his 567 00:31:21,000 --> 00:31:24,520 farming, so he is betting that he's going to have make more 568 00:31:24,520 --> 00:31:26,000 than that. His blur points will be worth 569 00:31:26,000 --> 00:31:28,720 more than the 4.5 million he lost farming. 570 00:31:29,200 --> 00:31:31,800 We can already see the impacts to the board. 571 00:31:31,800 --> 00:31:34,920 So Pudgy Penguins down 17 percent 8.3. 572 00:31:34,920 --> 00:31:38,600 Board Apes down 14% at 9 while they're below 98. 573 00:31:38,600 --> 00:31:42,640 That's the that's the lowest I can recall seeing them. 574 00:31:42,960 --> 00:31:47,640 Mutant Apes down 11% at 1.6, let's see captains at three that 575 00:31:47,640 --> 00:31:49,280 that's kind of bend the floor for them. 576 00:31:49,280 --> 00:31:52,120 We'll see how they handle Azuki at 3.3, down 90%. 577 00:31:52,120 --> 00:31:57,240 So that the list goes on it. It is certainly a bloody morning 578 00:31:57,240 --> 00:32:00,000 here for the NF TS. I think Pudgy specifically have 579 00:32:00,000 --> 00:32:04,760 been catching a lot of the flag slash news because the Ben Dow 580 00:32:04,760 --> 00:32:06,760 oracles weren't updating properly. 581 00:32:06,760 --> 00:32:11,560 And apparently there's like 100 to 200 Pudgy's which are now at 582 00:32:11,560 --> 00:32:14,960 liquidation risk. And there's the whole like lone 583 00:32:14,960 --> 00:32:17,960 liquidation cascade. So it it's a rough set up here 584 00:32:18,320 --> 00:32:23,160 for these ETH NF TS. I guess there's, there's a bit 585 00:32:23,160 --> 00:32:26,520 more to unpack with all this and blast incentives and what all 586 00:32:26,520 --> 00:32:29,200 this means, but low, I guess reactions here this morning. 587 00:32:30,080 --> 00:32:33,960 How how low can we go? How much lower are some of these 588 00:32:33,960 --> 00:32:36,160 top NF TS going to go over on ETH? 589 00:32:36,960 --> 00:32:39,320 Some are some are definitely going lower. 590 00:32:39,320 --> 00:32:41,920 I was struggling as you're reading not anything you did 591 00:32:41,920 --> 00:32:45,680 Tyler, but just looking at what stands out here, Milady and 592 00:32:45,680 --> 00:32:50,880 redacted Emilio's up 10% and 16% respectively on the seven day 593 00:32:50,880 --> 00:32:57,960 just hilariously counterculture. This is something that in many 594 00:32:57,960 --> 00:33:00,040 ways we've been kind of hoping for. 595 00:33:00,040 --> 00:33:02,720 I know it sounds odd to say this, that you know that like 596 00:33:02,720 --> 00:33:07,200 hoping for this level of pain. But you know, for so long now it 597 00:33:07,200 --> 00:33:09,680 has been these conversations about the farmers and, you know, 598 00:33:09,800 --> 00:33:14,440 the impact on the market and the end of Blur season three and the 599 00:33:14,440 --> 00:33:17,320 end of farming. And would it be actually the end 600 00:33:17,880 --> 00:33:22,520 of incentives towards bidding, You know, on Ethan FTS we've 601 00:33:22,520 --> 00:33:24,840 kind of asked for like, let's just rip the Band-Aid off. 602 00:33:24,840 --> 00:33:29,680 And it seems like CBB has sort of, you know, if not all the 603 00:33:29,680 --> 00:33:33,280 way, at least, you know, probably ripped up to the little 604 00:33:33,360 --> 00:33:36,480 actual bandage part, right? The first little flap on that 605 00:33:36,480 --> 00:33:39,880 Band-Aid he's pulled up for us. And we'll see what Pac-Man does 606 00:33:39,880 --> 00:33:45,240 with the rest. So no, I mean, I, I don't know 607 00:33:45,240 --> 00:33:48,560 what to say or feel like I don't necessarily feel any pain. 608 00:33:48,560 --> 00:33:51,320 I'm not holding big bags of any of these at this point in time. 609 00:33:51,960 --> 00:33:54,560 I haven't even really been looking to acquire any of these 610 00:33:54,560 --> 00:33:58,120 at present time said. I think yesterday to you 611 00:33:58,120 --> 00:34:01,720 offline, like the doodles price was becoming attractive to me. 612 00:34:02,840 --> 00:34:04,360 I don't know how badly they got hit. 613 00:34:04,360 --> 00:34:07,840 I can't even scroll through it on my own but like. 1.29. 614 00:34:08,360 --> 00:34:13,679 I still, I still need to see more pain before I'm I'm ready. 615 00:34:13,679 --> 00:34:15,400 Like there's a cycle. It's more of like a 616 00:34:15,400 --> 00:34:19,239 psychological number, I think for me, like where I'd be ready 617 00:34:19,239 --> 00:34:21,920 to buy back in and I'm I'm just not there yet. 618 00:34:21,920 --> 00:34:26,360 And some of these have just completely culturally, at least 619 00:34:26,360 --> 00:34:31,600 for me, left my my sphere of existence entirely. 620 00:34:31,600 --> 00:34:35,520 Like I, you know, I don't ever care to own a board API club at 621 00:34:35,520 --> 00:34:36,800 this point in time. Sorry. 622 00:34:37,239 --> 00:34:41,679 Despite how iconic of everything they are, it's not where I'm 623 00:34:41,679 --> 00:34:45,120 gonna go. So yeah, man, pain. 624 00:34:45,520 --> 00:34:48,000 Loki's numb to it. Loki's is numb to the pain. 625 00:34:48,000 --> 00:34:50,159 Here, here, folks. I, I've got a lot of thoughts. 626 00:34:51,120 --> 00:34:52,560 I think there's going to be some buying opportunities. 627 00:34:52,800 --> 00:34:54,320 You know, you called out doodles. 628 00:34:54,400 --> 00:34:57,720 I, I do think pudgy's still, and I know I'm a little biased. 629 00:34:57,720 --> 00:35:01,760 I'm rocking the pudgy PFP. Like once the, the dust settles, 630 00:35:01,760 --> 00:35:05,800 once the lone cascades, you know, all, all play out, you 631 00:35:05,800 --> 00:35:10,160 know, if these things hit six or seven again, I think they're, I 632 00:35:10,160 --> 00:35:13,840 think they're a buy at that number, especially if the mean 633 00:35:13,840 --> 00:35:16,960 market is cooler. Like that's been one of the huge 634 00:35:16,960 --> 00:35:20,560 opportunity costs, right, of buying NFTS is that the gains 635 00:35:20,560 --> 00:35:23,520 and returns are so much stronger elsewhere. 636 00:35:23,520 --> 00:35:25,320 And I think that the mean market's not going away. 637 00:35:25,320 --> 00:35:27,400 It's not going anywhere. But if it's a little less 638 00:35:27,400 --> 00:35:31,480 interesting here for the summer, then I think that's a potential 639 00:35:31,520 --> 00:35:35,800 positive point for the NFTS. You know, we, we've got some of 640 00:35:35,800 --> 00:35:38,920 the farmers kind of victory lapping and saying, oh, ha, ha, 641 00:35:38,920 --> 00:35:42,680 ha, look, you, you've, you've hated us for farmers. 642 00:35:42,680 --> 00:35:47,320 Now the liquidity's gone here. Here's what you got left and a 643 00:35:47,320 --> 00:35:50,400 few reactions to that one. They're not even down more than 644 00:35:50,400 --> 00:35:53,600 the the alts in mean points. So everything's down 10% today. 645 00:35:53,840 --> 00:35:57,680 So it's not even necessarily that this might just happen 646 00:35:57,680 --> 00:36:00,800 anyway, to be honest with how the markets played out. 647 00:36:01,160 --> 00:36:03,520 So they're not even down that much. 648 00:36:03,520 --> 00:36:07,000 Of course, there's some outliers on the board here. 649 00:36:07,000 --> 00:36:09,320 And then, like, without getting into the whole argument and 650 00:36:09,320 --> 00:36:13,200 salmon stats, he was all into it here this morning. 651 00:36:13,880 --> 00:36:17,720 But entities basically stopped being viable as soon as these 652 00:36:17,720 --> 00:36:21,080 blur incentives came into play. And it has been shuffled back 653 00:36:21,080 --> 00:36:24,600 and forth for for so long. And now that their appeal, their 654 00:36:24,600 --> 00:36:28,200 luster is largely gone. So it's going to be a rebuild. 655 00:36:28,200 --> 00:36:30,920 So like there's not going to be this inflection point where, OK, 656 00:36:30,920 --> 00:36:34,480 all the farmers are gone now let's rush in and buy these like 657 00:36:34,480 --> 00:36:36,040 that. That's not how I I think it's 658 00:36:36,040 --> 00:36:39,000 going to play out. I think that is a good trigger 659 00:36:39,000 --> 00:36:43,120 or good catalyst, like once the farmer bags are actually gone 660 00:36:44,320 --> 00:36:47,840 and we return to somewhat level of organic buying, I think 661 00:36:47,840 --> 00:36:49,920 that's good. But there still needs to be 662 00:36:49,920 --> 00:36:53,400 reasons to buy these. And that's that's what's been 663 00:36:53,840 --> 00:36:56,120 missing. The FOMO aspect has has been 664 00:36:56,120 --> 00:36:59,120 gone because there's no FOMO when prices are down only. 665 00:36:59,120 --> 00:37:04,440 So we're going to need to see the FOMO ratch up and hopefully 666 00:37:04,440 --> 00:37:07,080 incentives gone, which I guess takes me to my next question is, 667 00:37:07,080 --> 00:37:10,040 is what what do you think's coming at blast tge? 668 00:37:10,920 --> 00:37:15,040 Is Pac-Man finally going to pivot away from Ethan Mt trading 669 00:37:15,040 --> 00:37:16,280 incentives? Or do you think there's still 670 00:37:16,280 --> 00:37:19,240 going to be something lingering? Oh boy. 671 00:37:19,240 --> 00:37:21,960 You know what I think? I don't think he can remove them 672 00:37:21,960 --> 00:37:26,480 entirely if you do. So you're sort of like, I don't 673 00:37:26,480 --> 00:37:28,760 know, signaling the death of blur. 674 00:37:29,480 --> 00:37:33,080 Maybe not entirely, maybe that's a bit dramatic or drastic, but 675 00:37:33,720 --> 00:37:35,360 he he can't remove them entirely. 676 00:37:35,360 --> 00:37:40,080 I mean, this is still a, a major market, relatively speaking, 677 00:37:40,120 --> 00:37:41,400 right? This is, this is still a, a 678 00:37:41,400 --> 00:37:44,120 major market. So I, I don't think they're gone 679 00:37:44,120 --> 00:37:46,680 entirely. I do think they're diminished. 680 00:37:47,080 --> 00:37:51,360 I think they will be refined. I don't know what that means, 681 00:37:51,360 --> 00:37:56,120 you know, like in, in terms of the actual incentives for the 682 00:37:56,120 --> 00:37:59,000 farmers. We don't still really know how 683 00:37:59,000 --> 00:38:02,280 Blur and Blast are going to really play together, do we? 684 00:38:03,240 --> 00:38:06,400 At least not to to my knowledge. So there's like a there's a lot 685 00:38:06,400 --> 00:38:11,480 of variables at play here. You know, I think CBB made the 686 00:38:11,480 --> 00:38:14,200 right move. You have about a week left, 687 00:38:14,240 --> 00:38:17,200 right. Just kind of let your chips pull 688 00:38:17,200 --> 00:38:19,240 them off the table Now let some things rest. 689 00:38:19,320 --> 00:38:22,200 I saw he was going to be taking some time to touch some grass 690 00:38:22,200 --> 00:38:25,080 and still reimplement a strategy. 691 00:38:25,080 --> 00:38:28,520 And I would imagine that Pac-Man would have been talking to the 692 00:38:28,520 --> 00:38:32,600 person or the team that is doing like 40% of the points or 693 00:38:32,600 --> 00:38:35,160 whatever, right? About what season, about what 694 00:38:35,160 --> 00:38:37,840 this next season looks like. And we already know from a tweet 695 00:38:37,840 --> 00:38:41,640 that I sent you this morning that that CB said loans will go 696 00:38:41,640 --> 00:38:44,080 back out to some of the mid tier collections. 697 00:38:44,080 --> 00:38:47,520 Just nothing you go related. So that is sort of me. 698 00:38:47,520 --> 00:38:49,400 Maybe I'm reading between the tea leaves there a little bit. 699 00:38:49,400 --> 00:38:52,280 But like that's that's me suspecting that there will still 700 00:38:52,280 --> 00:38:55,240 be incentives, still be reason to give and provide liquidity. 701 00:38:55,240 --> 00:38:56,960 I think it's going to be different. 702 00:38:57,400 --> 00:39:01,160 And I'm excited to see in a in a like a cautiously optimistic 703 00:39:01,160 --> 00:39:04,080 way, excited to see, you know, what it actually looks like and 704 00:39:04,080 --> 00:39:07,320 maybe end some of this argument about farmers are the worst 705 00:39:07,320 --> 00:39:11,480 farmers killed NFTS or signal farmers killed NFTS one way or 706 00:39:11,480 --> 00:39:13,840 the other, hopefully have an answer, although I I doubt we 707 00:39:13,840 --> 00:39:16,480 actually will any finality in that argument. 708 00:39:17,000 --> 00:39:19,080 Well, that's interesting. So you're pointing to him 709 00:39:19,080 --> 00:39:22,760 pivoting to lending as a sign that there at least may be some 710 00:39:22,760 --> 00:39:27,560 lending incentives on blur and that very well may be the the 711 00:39:27,560 --> 00:39:29,720 case. So I'll, I'll read the tweet. 712 00:39:30,200 --> 00:39:33,360 This is from CBB After a blast TG and a few weeks of touching 713 00:39:33,360 --> 00:39:35,520 grass, we will deploy a new strategy to provide medium term 714 00:39:35,520 --> 00:39:38,680 loans in a tea collection such as Pudgy Milady Remilio not 715 00:39:38,680 --> 00:39:40,080 touching anything related to you collapse. 716 00:39:40,080 --> 00:39:43,760 So yeah, you you basically said it for us. 717 00:39:43,800 --> 00:39:47,040 I mean, this is kind of what Cyrus did right after Cyrus made 718 00:39:47,040 --> 00:39:52,520 all his money in 20/21/22 and two flipping in a tease lending 719 00:39:52,640 --> 00:39:55,680 and and lending can be very profitable, right? 720 00:39:55,680 --> 00:40:00,120 So like, and I think he did it without the incentives being the 721 00:40:00,120 --> 00:40:02,200 driver, like without points being the driver. 722 00:40:02,200 --> 00:40:07,120 Like he he did it to to be able to earn the yield on AZ and then 723 00:40:07,120 --> 00:40:10,560 to, you know, if on defaults, usually being able to flip with 724 00:40:10,560 --> 00:40:12,240 the spread. And of course, you know, he got 725 00:40:12,320 --> 00:40:14,440 stuck with some. But overall I think it's been a 726 00:40:14,440 --> 00:40:16,280 very profitable strategy for him. 727 00:40:16,280 --> 00:40:19,320 So that could be part of what's playing out here. 728 00:40:19,520 --> 00:40:22,040 So who knows? I'm with you. 729 00:40:22,040 --> 00:40:24,600 I don't know that we're going to see blur incentives go totally 730 00:40:24,600 --> 00:40:26,240 away. Of course he has to incentivize 731 00:40:26,240 --> 00:40:28,000 and there's more blur tokens coming. 732 00:40:28,480 --> 00:40:31,280 Hopefully they are different. I do want to compare this to the 733 00:40:31,280 --> 00:40:35,920 runes board, so it it's not just Ethan and teasers are down. 734 00:40:36,200 --> 00:40:38,800 Puppets are down 16%, they're at .11. 735 00:40:39,000 --> 00:40:41,960 Bitcoin node Monkeys are down 9% at .189. 736 00:40:42,240 --> 00:40:44,440 That's the lowest I can remember them. 737 00:40:45,400 --> 00:40:49,240 Let's see pizza entries. Pizza entries are down 4% OMB, 738 00:40:49,240 --> 00:40:52,680 down 4%, point 235. Quantum cats, basically. 739 00:40:52,680 --> 00:40:58,360 Even so, again, there was no liquidity pulled from the 740 00:40:58,360 --> 00:41:02,720 Bitcoin NFT market and they're down effectively the same 741 00:41:02,720 --> 00:41:06,640 numbers that we saw on Eve so that this could even be a 742 00:41:06,640 --> 00:41:09,680 broader market trend. And just quickly, folks, it 743 00:41:09,680 --> 00:41:12,000 looks like we've got the code. If you haven't seen this, if 744 00:41:12,000 --> 00:41:15,320 you're not in the stream FOMO hour 3 for Intercellar, we will 745 00:41:15,320 --> 00:41:18,640 be doing that Intercellar giveaway here in just a few 746 00:41:18,640 --> 00:41:21,480 minutes. So so make sure to to jot that 747 00:41:21,480 --> 00:41:25,160 down points dot intercellar dot IO to redeem and enter that 748 00:41:25,160 --> 00:41:26,440 giveaway. So check that out again. 749 00:41:26,440 --> 00:41:28,400 We'll get there in just a few minutes. 750 00:41:29,120 --> 00:41:31,800 But Logan talking through this thing, I'm not even I'm not even 751 00:41:31,800 --> 00:41:35,480 sold that it, it's the farmer liquidity pool that's driving 752 00:41:35,480 --> 00:41:38,760 this down. Like I I think it's, it's just 753 00:41:38,760 --> 00:41:41,960 the broader markets, right? Like, I mean, you can't draw any 754 00:41:41,960 --> 00:41:46,640 specific conclusions because there's so many play, but I mean 755 00:41:46,640 --> 00:41:48,800 seeing pop down the same and I've got this quickly. 756 00:41:48,800 --> 00:41:55,120 The PUPS token is at $78,000,007.80 and some of us, 757 00:41:55,720 --> 00:41:58,800 myself included are are at risk of round tripping almost the 758 00:41:58,800 --> 00:42:01,960 whole thing. I bought at 3 all all the way to 759 00:42:01,960 --> 00:42:04,680 90. I did sell a chunk at 60 on the 760 00:42:04,680 --> 00:42:09,240 way down and now it's it's literally approaching 3 again. 761 00:42:09,360 --> 00:42:12,400 And even at 15 I was still so like confident because I was up 762 00:42:12,400 --> 00:42:20,400 5X and now it's at 780 a 150% on a bag that was a 30X and I 763 00:42:20,440 --> 00:42:22,800 thought we had I thought I learned the lessons in 2021. 764 00:42:22,800 --> 00:42:26,560 Apparently not. So I, I think a lot of us are 765 00:42:26,560 --> 00:42:28,480 going to have to sit down and kind of think about how we want 766 00:42:28,480 --> 00:42:32,360 to approach the rest of this year and, and perhaps this the 767 00:42:32,360 --> 00:42:34,600 the rest of the cycle, because I don't think it's ending. 768 00:42:34,800 --> 00:42:37,800 I see Mario, Mario Nafal is running a spaces right now. 769 00:42:37,800 --> 00:42:41,320 Is the crypto bull market over? So I guess what's you know, kind 770 00:42:41,320 --> 00:42:44,080 of pulling it back high level to to round out our conversation 771 00:42:44,080 --> 00:42:46,360 here is the crypto bull market over Logie. 772 00:42:47,080 --> 00:42:52,440 I sure in the hell hope not. If so, I mean, I know if you if 773 00:42:52,440 --> 00:42:56,320 you zoom out right, like what Bitcoin 150 percent or something 774 00:42:56,320 --> 00:42:59,800 over the last year, you know, that feels pretty bull 775 00:42:59,800 --> 00:43:04,520 marketing, but it just never had the same zip, you know, as what 776 00:43:04,520 --> 00:43:07,960 we saw from like a 2021 cycle. And people much, much smarter 777 00:43:07,960 --> 00:43:11,640 than I am, people that trade, you know, much more actively and 778 00:43:11,640 --> 00:43:14,880 you know, are drawing the lines on the charts suggest that 779 00:43:14,880 --> 00:43:16,760 there's potentially more room to run. 780 00:43:16,760 --> 00:43:20,680 I'm going to, I'm going to side with them, whether it be copium 781 00:43:21,440 --> 00:43:24,000 or, you know, again, just kind of tailing smart people. 782 00:43:24,000 --> 00:43:25,760 I, I think that's the lane I want to be in. 783 00:43:25,760 --> 00:43:28,440 And nobody wants to be a bear. I, I know you have that great 784 00:43:28,440 --> 00:43:31,760 intro here, Tyler, when you come on the full bears gonna bash 785 00:43:31,760 --> 00:43:33,960 some bears. Yeah, You know, I, I hope that's 786 00:43:33,960 --> 00:43:35,800 the case. Let's let them have their time 787 00:43:35,800 --> 00:43:38,440 in the sun. I'm an optimist at heart as 788 00:43:38,440 --> 00:43:40,960 well. So I, I don't think it's over. 789 00:43:41,600 --> 00:43:45,360 If it is, it was very much a whimper, at least in my opinion. 790 00:43:45,600 --> 00:43:48,120 And I, I think we need some fireworks and we and we just 791 00:43:48,120 --> 00:43:50,280 haven't really gotten them yet. At least I I wouldn't say we've 792 00:43:50,280 --> 00:43:53,400 gotten fireworks yet, and I still fully expect we will. 793 00:43:54,480 --> 00:43:57,520 I'm with you though, like in hindsight, like was BONE 794 00:43:57,520 --> 00:44:02,000 fireworks Bone hit what, 2 billion in a few days? 795 00:44:03,040 --> 00:44:06,280 Like whatever happens in hindsight, it will be obvious, 796 00:44:06,280 --> 00:44:07,800 but I want to leave our listeners with some hope. 797 00:44:07,800 --> 00:44:10,160 I'm here today. So for my Monday newsletter, I 798 00:44:10,160 --> 00:44:12,640 did round up some of the big takeaways from the Coinbase 799 00:44:12,640 --> 00:44:14,000 Summit. There were several thought 800 00:44:14,000 --> 00:44:18,400 leaders, leaders from financial markets, from crypto 801 00:44:19,000 --> 00:44:23,840 institutions and ETS gathered together last week for the state 802 00:44:23,840 --> 00:44:27,560 of crypto. Coinbase hosted and I shared 803 00:44:27,560 --> 00:44:29,640 about 15 to 20 takeaways from that. 804 00:44:29,640 --> 00:44:31,040 I'm not going to go through all of them. 805 00:44:31,680 --> 00:44:33,360 The the big ones that stood out to me. 806 00:44:33,360 --> 00:44:37,200 One is, is there is this, this great wealth shift that is 807 00:44:37,200 --> 00:44:42,360 happening, $70 trillion transferring generations from 808 00:44:42,360 --> 00:44:44,640 the baby boomers to the younger generations. 809 00:44:44,640 --> 00:44:48,280 And I do believe that there are signs that the younger 810 00:44:48,280 --> 00:44:52,040 generation doesn't want their parents bags and there are new 811 00:44:52,320 --> 00:44:54,920 hot markets, whether that's NVIDIA, whether that's AI, 812 00:44:54,920 --> 00:44:57,240 whether that's crypto that they're going to want to invest 813 00:44:57,240 --> 00:44:58,520 in. And I and I think crypto will 814 00:44:58,520 --> 00:45:01,880 certainly be a, a healthy recipient of that. 815 00:45:02,240 --> 00:45:06,760 I think the biggest take away from the ETF side is it looks 816 00:45:06,760 --> 00:45:09,680 like the buying hasn't really started yet. 817 00:45:09,680 --> 00:45:11,400 And what they're pointing to and when we've talked about this 818 00:45:11,400 --> 00:45:14,680 before logi is the, the bankers haven't started pushing it yet. 819 00:45:14,880 --> 00:45:18,600 So like the, the individual bankers and Morgan Stanley at 820 00:45:18,600 --> 00:45:22,160 UBS haven't really started pitching Bitcoin and perhaps the 821 00:45:22,240 --> 00:45:26,440 Ethereum ETS if they come in July to their clients yet in any 822 00:45:26,440 --> 00:45:30,040 real way. So retail hasn't really shown up 823 00:45:30,040 --> 00:45:32,680 yet. And I think there was some 824 00:45:32,680 --> 00:45:36,760 perhaps thought that that was who was driving the ETF boom 825 00:45:36,760 --> 00:45:38,600 that we've seen so far. But it turns out that that's 826 00:45:38,600 --> 00:45:42,640 likely not the case. I think that the biggest risk 827 00:45:42,640 --> 00:45:46,600 still on the board is the regulatory problem in the the 828 00:45:47,000 --> 00:45:48,040 US. And it seems like there's still 829 00:45:48,040 --> 00:45:51,280 some major players on the sidelines not willing to enter 830 00:45:51,600 --> 00:45:53,880 until there is more clarity, it seems like. 831 00:45:53,880 --> 00:45:56,680 I mean, who knows if this is posturing or not, but crypto 832 00:45:56,680 --> 00:45:58,760 clearly becoming a more political issue here in this 833 00:45:58,760 --> 00:46:01,640 election cycle. The Trump administration 834 00:46:02,080 --> 00:46:05,200 seemingly very pro cryptos. We will see if we get more 835 00:46:05,200 --> 00:46:07,920 clarity with them. We've seen the resignations from 836 00:46:07,920 --> 00:46:11,680 the SEC, the SEC starting to crumble a bit here. 837 00:46:12,200 --> 00:46:15,160 And then Ethereum seems to be a massive winner for tokenization. 838 00:46:15,160 --> 00:46:17,560 It seems like the the writing is on the wall. 839 00:46:17,560 --> 00:46:21,520 ETH will win for tokenization over permission block chains. 840 00:46:21,520 --> 00:46:26,920 So like when when you take this all into account, I don't know. 841 00:46:26,920 --> 00:46:31,080 I don't know how you can be bearish and we've got folks 842 00:46:31,080 --> 00:46:33,560 standing up and saying as soon as we have regulatory clarity, 843 00:46:33,560 --> 00:46:35,680 as soon as these bankers are pushing this, we're going to see 844 00:46:36,400 --> 00:46:39,960 calls for crypto being 1 to 2% of portfolios to five to 10%. 845 00:46:40,520 --> 00:46:43,960 And that is massive when you're talking about all the four O 1 846 00:46:43,960 --> 00:46:47,520 KS and investment plans across the the US. 847 00:46:47,680 --> 00:46:52,800 So again, like the markets are red today, but you know, my God, 848 00:46:52,800 --> 00:46:58,040 just just zoom out a little bit, think about the big picture here 849 00:46:58,040 --> 00:47:00,960 and the opportunity. It's so hard to do it though, 850 00:47:01,360 --> 00:47:03,200 because we're here every single day, right? 851 00:47:04,360 --> 00:47:07,840 It's very, very difficult to do. I I think very similar to this 852 00:47:07,840 --> 00:47:13,000 Tyler, which was great to read very optimistic bullet points. 853 00:47:13,240 --> 00:47:15,880 OSFI think had a tweet last week that walked through all the 854 00:47:15,880 --> 00:47:19,200 positive headlines And you know, if you're, if you're looking at 855 00:47:19,200 --> 00:47:22,920 fundamentals in any way, shape or form, it is so difficult to 856 00:47:22,920 --> 00:47:25,760 be bearish. But of course, this market 857 00:47:25,840 --> 00:47:30,880 fundamentals just like they're so detached, you know, as we say 858 00:47:30,880 --> 00:47:34,240 here and talk about coins like Billy and DJT, right? 859 00:47:34,240 --> 00:47:37,120 They're just a a wild place to exist. 860 00:47:37,960 --> 00:47:40,600 But yeah, here's to here's to things going up. 861 00:47:40,880 --> 00:47:41,520 I'm all for that.