Good morning. Good morning folks.
GMGM, welcome to another episode of SOMO.
Our today is Wednesday, January 22nd, 2045.
It is a bit of a cold Gray day here in Chicago.
It's been quite like this all winter so long.
But folks, it is not a cold Gray day for crypto.
In fact, quite the opposite. We've got President Trump coming
in, delivering on his campaign promises, endorsing his meme
coin. And today looks like we're set
for a $600 million stimulus here from Jupiter in about 20
minutes. So today, it is a good day.
We're going to break it all down on today's show.
No, for Oak, he is out sick this morning.
But I've got Mando here. You may not know this.
He is the world's most prominent radium influencer.
Mando. I'm the only radium influencer
and I'm now the most prominent. It's been quite the quite the
week for me, having looked at radium around this time last
week and then now look at me on top of the world.
Radium folks, if you missed us, Radium retweeted Mando's pitch
for for Ray in the in the last day or so.
So we got the protocol level. Retweet you, you love to see it.
Radium doing well. By radium, by the way, somebody
came at me yesterday and was like, I hope they don't, I hope
you're not sponsored by them and, and, and you're posting
about this. I was like, it's so ironic that
I put out a thesis driven trade about radium and people are in
my DMS being like, you're a crook.
Whereas if somebody else just tweets out a meme, it's like, or
a paid show for a meme, it's like, oh, that's fair game.
But what, the moment somebody tries to actually be like, OK,
this, this is something interesting to look at.
It's like you, you're getting paid, man.
Somebody's paying you to, to have a brain here.
There's no way. There's no way.
Everyone keeps their pitchforks with within one foot of them at
at all times. If if they're on crypto Twitter
and the second someone talks about a token that that they
don't have a large bag out there ready to jab that pitchfork at
them. Exactly, it's like and radium
like. I don't think anyone's mentioned
radium to me in like 6 months. It's.
Not like this. Yeah, that's not like.
Sponsoring streams or anything, but yeah, pretty funny.
It's the state of the market in January 2025, folks.
What are we talking about today? Crypto majors are green, Seoul
leading the way. We've got Trump delivering on
crypto promises. He's freeing Ross.
We've got the SEC setting up a crypto task force headed up by
Hester Pierce. AI sector folks, we on Monday.
I'll admit I wasn't sure how fast the rebound would be.
It looks like it was quite swift.
AI is back, and then we've got this Jupiter stimulus landing
here live during the show in 20 minutes.
We will probably keep it a tighter show for you here this
morning. We've been doing some lengthy
streams to start the week, but before we dive in, we got to
give a shout out to our partners starting with Galaxis.
Galaxis is a web 3 platform empowering creators and brands
to build unstoppable communities with full ownership and
independence. They are trusted by icons like
Donald Trump, Steve Aoki, Mike Tyson, and the NBA together, the
future of engagement. And also folks, every day we see
people's wallets get drained. Fairsight is about to launch the
fair alternative to insurance for crypto scams.
Check out at fair side network on X.
If you get drained, you won't be wrecked.
All right, we love our partners. Thank you for powering our show
with that Mando. If you're ready, let's get into
it. Let's get into it.
Can you dig it? So guys, yeah, we did have a
slightly better day. It looked like there was.
It's obviously volatile at the moment.
What's very, very clear of the last 24 hours to me at least, is
we are back to expect crazy headlines from Trump, which then
when you read are not so crazy. Like there was like a bombastic
thing about the meme coin. Even yesterday.
It was like he doesn't even know he owns a meme coin.
And then you watch the interview and it got a very, very
different impression about what was said.
So like I and the market is trading on this stuff as well.
Like it's going up, down crazy on whatever he says.
So I think there'll be more of that for the next 4 years.
Probably don't react to the first message.
Maybe, maybe find out what's happened.
I feel like that's going to be an yeah, very much an ongoing
theme. Yeah, full sentence.
See this, this is classic. We're going to see this a lot.
But crypto reacted very well. We didn't get the Bitcoin
Reserve. What we did get was a crypto
task force headed by Hester Pierce, who is kind of the one
dissenting voice for the SEC during Gary Gensler's time.
So that's very, very positive and she's been pushing for this.
I, I think this is good. Like the biggest beneficiary for
this I felt like was things like defy and there's been a lot of
comments from from like people in Travis being like, we're, you
know, Travis is ready to get involved in crypto here.
So you'll and for like traditional finance as well,
just to kind of really benefit from from crypto.
So that's where I think the the crux of this regulation will be
about. I don't think it's something
about your name boys or anything like that.
I think it'll be about right. How can tradvig involved in
crypto? Let's have to find rules for
stable coins. Let's have to find rules for for
different platforms like spot platforms like Uniswap, perp
platforms like hyper liquid. Let's let's lay all that out.
I don't, I think it'll probably be light lighter on the actual
tokens themselves. I don't think they're going to
come out with like this is a security or this is a this is a
commodity sort of stuff. I think they've largely going to
avoid that battle and say that the CFTC is going to be
regulating them like they're all commodities apart from like
obvious, obvious, obvious, maybe securities.
But even though I don't think that's coming, the crux of this,
I think this is just the layout, at least the like guidelines
that you've already seen in places like Europe and and the
UK about mainly the exchanges, the the, the deck style
exchanges to the platforms and and some sort of way for Tradfly
to allow their involvement in, in this space.
So I thought that was very bullish, but very expected at
the same time. And Hester Pierce is 100% the
right person to do this. She's really put herself in a
great, great position. I think with her with her takes
over the last few years very much keep the innovation, don't
heavy-handed like she was very critical of like the SEC coming
down hard on, on NFT projects, for example, like in the early
days and coming down very, very like ones which weren't even
like rugs like. So I think we'll we'll let's see
what happens here. Yeah, I mean, just my thoughts,
just generally this was the the the number one thing I thought
Trump would sign in his first few days and this was the number
one thing I was hoping for was effectively crypto task force.
And this didn't actually come from Trump, but Trump appointed
Mark Aouda who who did this. So I think this was, this is
very positive and it does. It's like you said, I don't
know, I have a lot to add. It paves the way for us to
finally have rules of the game and then everyone can actually
build the businesses and comply and we can move forward and not
just have to worry about lawsuits.
I do think a big part of what they're going to do first is, is
go through and, and take a look at the existing enforcement
actions and see what needs to be paused or perhaps gets thrown
out. And then they're going to build
the framework and then, you know, it's, it's more about that
and building than it is about like looking to see I go, OK,
who do we need to go after right now?
100% I think the big and the big ones there are the exist.
There's several lawsuits against existing exchanges over sales of
unregistered securities. That's against pretty much every
exchange that operates in the US right now has got an SEC lawsuit
against it. I think all of those will go and
that won't be an admission that everything's a commodity.
It'll just be an admission that that's just not a fight that
they want to fight. I think the second thing will be
against the decentralized finance platforms.
Uniswap is the is the main one there where you've seen, you
know, a very, very public laws lawsuit against them for not
registering correctly. That one, I think that one I
think needs regulation. I don't think they're going to
avoid that question. We do need to know what DEX
platforms need to do in the US most probably, and we do need to
know what centralized exchanges platforms need to do in in the
US. So I think what we'll really see
there is like guidance about what you actually have to do or
don't have to do. And I think that's kind of what
they've been asking for ages. All they've got up until now is
asking for that and the SE CS just start a lawsuit against
them. You know.
What I think we will now see is right, We're going to end all
the lawsuits. We're going to give you some
regulation. This is what you got to do, not
make it unbelievably punitive. I think the probably the and
that'll also extend probably to perp platforms.
So the CFTC is clearly like leading that against perps.
We'll see what happens there as well.
Like obviously there's some huge perp platforms which aren't able
to operate currently in the US Every perp platform has avoided
the US. So maybe maybe that changes,
perhaps I feel like maybe something they leave until
later, like it's not like they're not desperate to get
people levered trading crypto at this stage, but simple spot
onboarding ramps as well and allowing Travy to access this,
this sort of products, I think is where we'll see and and
probably a stable coins as well. Like there was some comments
yesterday about what would generally be expected they think
from AUS stable coin going forward, which is the same as
what we've had in Europe, right, is that they'd have to hold one
for one U.S. Treasuries or cash.
They'd have to comply with an audit.
And there was some talk that Tether might not pass either of
these, right, Like Tether actually is, if you're going to
the numbers, even their unaudited numbers, they hold a
range of assets, including things like Bitcoin, although
the vast majority of it is, is treasuries, but they own like
commercial paper and a few other things.
And they also haven't, haven't done like AUS based external
audit before. They they do audit, but I think
it's only by a local auditor in in the Caribbean.
So there were some questions about whether Tether would have
to be delisted yesterday and and Brian Armstrong came out and
said, yeah, we might have to delist Tether.
So and we've seen that just in Europe just now like Tethers
largely being excluded from a lot of European based exchanges
at the moment because it didn't comply with the Mika regulation
where a circle the USTC did. So I think there will be
regulation that probably champions circle here, at least
in the US whether Tether minds about that.
Tether is now setting itself up to be like it's trying to become
more compliant, but it's also with the other hand, basically
the rails of the anti SWIFT, anti sanctions countries like
you've seen Russia largely move into it.
So maybe Tether just says we don't give a shit and becomes
offshore dollars basically for everyone else.
It that's probably probably where we're going.
But Tether we could be seeing a an interesting and interesting
move here. Someone said Paulo can combat
Europe. Yeah, look, Tether just moved to
El Salvador as their HQ. Paulo, I think a lot of them are
based in Italy, including Paulo who kind of runs it.
But what other people have done generally and you, you see this
a lot in crypto is a foreign exchange will buy a local
operator with a license and then have like a smaller operation in
that country. So in Europe, for example, what
you're seeing right now, the reason why FTX Europe is up for
sale right now is because it actually has one of the very few
perp licenses in Europe. So somebody can come in and buy
a license based company and then set up an NC in Europe.
And you'll probably see that. So like if Taylor's going to
going to operate in Europe and in the US, they'll buy some sort
of local operator and have that as a subsidiary of the company.
And that's yeah, that's very, very standard.
Paula lives in Switzerland. I thought he lived in like the
bit where Switzerland meets Italy.
I thought he lived in or maybe Lugano, but maybe that is that
is Switzerland. It's yeah, it's around the area.
Probably one of the richest spending crypto.
Yeah, there we go. OK, so the market seem to like
it. It's not going crazy like a
Bitcoin. Bitcoin reserve seems like the
reserve. I don't know if we'll hear any
more crypto policy today from from the US.
What do you think, Tyler? Do you think we're going to get
some more executive orders? I'd be surprised probably at
this point if there's an order perhaps around setting up David
Sacks is like the Cryptosar. I guess I could see that coming
this week. I don't know if that really
requires an order or not. I'm the only real low hanging
fruit one out there. I guess.
Like the repeal of SAB 121. I don't know if that's something
that's like a week one thing and then there's strategic reserve,
but my, my gut read is the chatter on the reserve happening
this week has slowed down. I don't think it's coming this
week anymore. And I thought perhaps it would.
I, I really did think that that it was very possible just a few
days ago, just from the way Sailor was talking, from the way
Loomis was talking, some of the announcements that was that were
being teased. But I feel like we would if, if
that was the bond they were going to drop for crypto, I
think they would have, they would have done it at this
point. Can we bring up on Poly market?
Yeah, I think I've got. Yeah.
So in 2025, the odds are still 60%.
Is it have it first 100 days still?
The first 100 days, let's see, yeah, that's down to 34%.
So that's dropped about. Wow, that's down a lot.
It's dropped about 20%, yeah. It seems about right there, if
I'm honest. I think if they were going to do
it, they would do it straight away.
Now, I don't know when that happens if it's not going to be
straight away because it feels like quite a big policy.
But maybe like very maybe on the back of the regulation they they
decide to like have them together.
Maybe the maybe they didn't think it was the US is ready for
it, but that's something to be aware of.
Like that, that chart had looked like the Bitcoin chart before
today and that's down 50%. So I wouldn't be surprised if,
if, if like I wouldn't be surprised if we saw like a
little bit of, of softening in, in Bitcoin.
We've kind of seen that. We've seen a bit of Bitcoin
dominance come down. Solana's taken come to the
forefront again. Solana just looks so bullish to
me here with what just happened with Trump.
So that's up on the day, a little bit up on the day, but I
I get back towards all time high again to 300 now Ariel 290.
This move surprised. This move surprised me the most
in the last day, I'd say. So everything was kind of
cooling off, chopping a bit like bitcoins kind of ranging right
now, one O 3 to one O 7. ETH is a stable coin that could
fall off a Cliff at any time I guess.
And then sole the leader. It's up 7% on the day, but back
up at 2:56. And I mean it it it overshot to
290 corrected. But it feels like every day of
the Trump token. Well, Trump trade is a part of
this, right? Like it just added 40 billion
FTV to the slot of network. And I think there was a lot of
questions on it if it was going to stick around or not.
Seems like we, we got some good news on that front.
Yes. Or maybe we, we talked about
that. So you kind of went there
already in your intro, Amanda, but I feel like we got to talk
about it a little bit more. So Trump was was speaking at the
AI event yesterday and it was, it was largely he had just
announced this project Stargate, $500 billion going to be
invested from the private sector into building AI in the United
States. And then he was, he was taking
questions and DB210K tweets Trump on his meme coin.
I don't know much about it. And let's let's let's go to the
chart here. So as that happens, we see Trump
immediately go from 48 all the way down to 32.
So it's all of 30. It wiped out anyone who was
long. So what happened right before
this was important. The Coinbase officially got
Trump live. Trump was at 40.
It marched up to 48. So and I think people start
putting longs in around 40 and then they all got wiped out on
this tweet. But then if you actually watch
the video, what he actually said was was quite different.
And I don't know if I've got the the actual.
Is it hilarious? Like I forgot having he listened
to him, He's a bit of a comedian, right?
Even if you don't have a view like you don't like him, he is.
He is a funny person objectively.
Yes, it is a hilarious club. I'm going to try to find it
just. Yeah.
But my, I guess my view is if you own that Trump coin, expect
a lot of that. Expect a lot of that sort of
stuff where it will trade around on his headlines.
And it might not be what you first thought, but I, if I lay
out the like the majors right now and I would include XRP in
that, I think that there is still a potential if you're not
going to get a Bitcoin reserve that you will get some sort of
policy on America first crypto. And I think that could easily
come in the in the next couple of weeks.
Like that's, that seems like a lower piece of hanging fruit
than the Bitcoin reserve. So it's something that presents
a pretty bullish case for like Seoul and XRP ETH.
There was a lot of religious around world legacy financial.
In the end, they just kind of bought some ease.
I don't even know if that was like, I think people like
they're going to save D5 tomorrow and you know, bought
some ease alongside a bunch of other projects.
And I think there's obviously a bit of a, if you're not
following, there's a bit of a power struggle going on right
now on Ease metallics, wearing Milady and saying I have all the
power essentially. Some of the Etherium Chord devs
have kind of left and yeah, he's basically trying to take
ownership of it a bit more, trying to be a bit more
aggressive around certain things.
Justin saw that she put out a piece today about Ether 10K,
which I wrote initially was good, and then all the comments
were this is AI ChatGPT. Wrote this and I read it again.
I was like, wow, this is actually 100% ChatGPT.
But yeah, Ethereum's going through it's, it's like moment.
And then Bitcoin. I think most people who own
Bitcoin, at least short term, we're hoping for some sort of
Bitcoin reserve. There's no doubt in my mind.
And if that's that chances just dropped 30%.
Like I'm not, I'm not saying that it's go Bitcoin to zero.
I'm just saying that like Bitcoin could probably just go
sideways here for a little bit or go or like head back towards
100K. There's no one like, I think up
until a week ago, everyone was like, oh, Bitcoin Reserve or,
or, sorry, 2 days ago. But now if that's not going to
happen, if Bitcoin drops, you're kind of hoping like, Oh well,
it's back to somebody's going to buy it or like the ECF will come
in and buy it, which it will. But I feel as though there's a
more bullish case right here for Solana in XRP out of those four.
And XRP is purely just the meme of XRP rather than actually like
anything going on. So I think Solana can continue
to outperform. I think Solana can can like
double here. Double against Bitcoin.
I wouldn't say double against Bitcoin, but I would say that it
can, it can really outperform. It's gone through.
Remember, it's gone through months of underperformance and
then it corrected that in two days.
And now I don't think that that it's over.
You know, like where where was so Solana before the Trump coin
was trading at 195 or maybe slightly higher?
Yeah, that sounds right. Trying to get this whole Bitcoin
turned up while while we talk. Yeah, like.
It's a big move. But it's not moved that much,
right? Well, it's basically what I'm
trying to say is it's up like 20%.
It's not it's about like 60% here.
It's up like 2030%. I think it could be up a lot
more than that, a lot lot more than that just because you're
going to you have the potential chance for USUS first crypto.
Let's say you have now Trump, which I think is a bull case of
Slan in of it of itself and also other stuff happening on the
back of that. Like who knows?
We didn't know Trump was coming last week.
There could be a ton of other stuff now coming to Solana and
the fact that it was already being beaten up because of these
unlocks, which we're about to see kind of the first of and
will be done in the next 60 days.
And I think these are bullish unlocks.
So yeah, I'm I'm I'm very bullish on Solana here.
I continue to be. I actually think I still think
it looks undervalued. I tend to agree.
We we got the Trump token on Solana now and I don't know if
folks have been following this, but like Solana is just insanely
liquid right now. And like this is fall out from
the Trump coin and everyone coming on chain.
And, and perhaps it's, it starts to, you know, roller coaster
loops down a little bit in the near term.
But any like 2 new tokens yesterday, like 2 new meme
coins, they came out and did $150 million in volume.
So like this, this Hart Sparkle mermaid and then the Stargate
token just named after the name of the project.
They both do over $150 million in volume.
And today there's $600 million coming from Jupiter with, with
the Jupiter AirDrop. And that why the hell that's
that's going live right now. So I guess let's let's check in
on on the Jupiter price while we while we wait here.
I'm at 700 million tokens. Looks like it's down about four
cents or so from where it was this morning, folks, likely I
think we're going to see a lot of cell pressure here today.
I am kind of curious where Jupiter settles here just
because you know, you just laid out the Solana bull case.
You're bullish on Solana going up.
You're like Jupiter is going in my head, like Jupiter is going
to be one of the beneficiaries of a Solana run, right?
I was actually thinking about should I is it better not to
sell the AirDrop and actually hold if you think Salon is going
to run here? So like separating what I
thought about the Ray trade here, right?
I'm very bullish on Salana Casino for the next couple of
months. Like Salana, huge volumes going
through decks, volumes being beaten every single day, Trump
potentially going up to 100 billion plus FTV that making
Salana look ridiculous, all this sort of stuff.
And then that going higher means more people come in and be like,
wow, like Trump just made 50 billion on this on this coin.
Like let's do some stuff in Solana.
Jupiter, weirdly, if you like zoom out here, hasn't really
participated in in. It's been a very stable ish
coin. If you kind of look at over the
last. Oh wow.
Yeah, like there's not many coins a lot like that in in
crypto. Like it's it's up and down like
2030%. It's better when you moved.
It doesn't have the flywheel Jupiter.
So what it is is a launchpad coin.
So if you own Duke and you stick Duke, you get access to new air
drops and they they are often doing some pretty good air drops
through that, particularly a few months ago, but less so
recently. But like they've, they've
generally had some good ones. So it's more like owning Binance
Launchpad like you and B&B because you get you get new
Binance, Binance coins. It's similar for Jupiter in that
sense, but it doesn't have the flywheel because it's they don't
charge for spot fees and the perp fees. 75% of them go to
JLPI. Was trying to find out today
where the other 25% go to. They may just go to the team.
I don't I don't think they go to the Jupiter coin.
Jupiter now is a is a Dow token. It's a classic defy Dow
governance coin. Maybe they need to change it so
they get a bit more flywheel. I'd love to I'd love to see that
for Duke. Like I think Jupiter volumes
will go crazy. Do I think the Duke token goes
high with it? It that's more like a maybe in
the future they're going to do something that creates a
flywheel for me. And that the tokens largely
reflected that, like for a token which it came out really this
time last year, right? And Solana D5 volumes are up
insane amounts in that time frame, OK, insane amounts.
And this coin has gone sideways that like compare that to Ray
for example, which is the flywheel coin.
If you bring up Ray over the last year does have just a
flywheel going, I think you're going to see a very different
sort of yearly chart. Wow, this is what you would
expect with the Solana protocol. Like for me, like not with, with
knowing nothing else and just knowing the trajectory that
Solana has been on over the last year, like this is what I would
expect. So I was trading at one and now
it's trading at at 8:00 and that that actually still feels
undervalued versus how much Solana Defy is up.
And I think Solana Defy is going to keep on going up.
So what that tells me is that Jupiter isn't really got the
flywheel, right. There's some other coins in
Solana Defy, but none of them have got the flywheel.
This is like I like I looked at them all Orca, there's Camino,
there's which is I think it's a great platform.
I used Camino every day but it doesn't have the buyback
flywheel going as largely most D5 coins don't right?
Like D5 got criticized for not moving like this.
If they decide to do something like that, which hopefully they
will this year, a bunch of them, then a lot of them could re rate
a lot higher. And I mean, you didn't even
mention that Anson's behind radium now.
So radium could be on the sphere in in Vegas.
So. And it's like an OG radium
influencer. I am the number one radium
influencer across all geographies right now.
But but Anson has been calling radium since like 2021.
Like Radium is FTX old for Solan.
All right? It's really, really old.
Oh radium is not Oh my life. So the market cap is way all
time highs. Yeah.
But the price is like it's way down.
Yeah, Radium like is is as OG as it gets for Salon Defy.
Go criticize for some of the stuff because it was quite tied
to FDX and some of their early like, you know, there's like
vacuous FDX style coins like serum and all this sort of
stuff. But but yeah, it's it's very
much OG. Someone else's order in the chat
here order soul. This is an interesting coin if
you are going to go down the route of of Salon defy.
So Radium has now launched a perp platform.
So if you go on to Radium, they have something called Radium
perps, which is the vast majority of Solana perps are
done on Jupiter perps. Radium has not created its own
perp platform. It's done it alongside a perp
platform provider called Orderly.
And this is a multi chain perp platform provider.
Audley, they do them on Arbitron, they do them on ETH.
They're like known for that. They are seeing huge volumes go
through this now, like close to not at Jupiter, but like I think
it's like probably about maybe 1/4 right now and it's in beta.
Radium currently has zero fees on their side for this, but they
could turn them on in the future.
Audley does have some fees. Audley does have some fees, but
Audley does have a token too. So if you're also bullish on
like radium perps taking off, then, which I don't think is a
bad idea. Audley does have a token, which
kind of does have a bit of a flywheel to it, but it's not not
quite as good in my opinion. But yeah, you can look at that.
Very interesting. Yeah, well, it's good to know.
It's good to hear from the the number one radium influencer.
I'm sure we'll be talking about it quite a bit in the in the
days to come. So Jupiter is live folks, but we
we got around the horn most of the big stories.
I think the other one that we haven't talked about yet is the
AI market is coming back. Huge.
Pretty damn fast. You would you would assume the
headline was that they're going to invest 500 billion in AI
meets crypto. Like there was a story that that
SoftBank is going to make a $500 billion investment into the US
in a partnership with Open AI. Remember, SoftBank have tried to
tie themselves to Open AI. SoftBank has kind of known as
one of the biggest tech VCs essentially.
And on the back of that, every single AI crypto coin basically
like doubled. It went up like 5060% which is
just pretty funny. Pretty funny.
Yeah, I mean, we're talking the leaders are up 20 to 40% and off
the bottom, I think they're all up 50 to 60%.
So like if you if you sold your AI bags that to buy Trump on
Sunday, you got wrecked on that rotation basically like if you
did it early, you won. You still are up big on the
trade, but you were late to the Trump trade and then you missed
the bottom like now you're out of position because these have
rebounded quite like we're at new all time high.
So arc hit a new all time high yesterday, 6600 six 30 million
AIXPT is basically an all time I'd say 87 cents.
Griffet hit a new all time high. A non all time high yesterday
had been doubled. I have an orbit to defy tokens,
defy AI. Defy meets AI was the real
winners here like all of those coins, they didn't really dip
even during the dip right like look at those coins like buzz
Anon Anon went down like 10% and then just.
Scripture. Right, like the that subset just
up only right now, yeah. I mean you.
Oh my God. Right, like compare that to
AI16Z as a chart, which is like the infracoins, they look very
different. The D5 meets AI coins are the
really the have been the strongest during the bear and on
the bounce. And it'll be interesting to see
like I, I tried to split them up today, which is kind of what
I've said on the show a few times as a tweet.
It felt like the the utility based coins have been the have
been the real winners here. Apart from Ark, which I think is
like is kind of on its way because I think people think it
will get listed and all this sort of stuff.
But AIXPT Griffane and the D5 coins all up massively FARC coin
go up up or sideways, not not doing amazing virtuals as it
seems the arc like they bounce, but like they didn't bounce as
strong as as the utility base coins.
Utility base like coins are just yeah up only right now.
These two do not surprise me. AXPTS rebound, I will say like
I'll admit, surprise me. I, I was a little concerned that
if and when it lost its attention, would it be able to
get, get it back? But it clearly did.
And now I think it pays to be the leaders right now, the
momentum leaders. I think people are just going to
be looking at what moved the most off the bottom the fastest.
And I think they're just going to deploy and they're going to
close their eyes. And I think ARK is the one that
they see the most. And people are just going to
deploy into ARK and who don't know anything about it.
Yeah, yeah, I think so too. The child looks the best out of
them all. AI SPT is interesting because
you you make you present a good point.
It has lost its mind. Yeah, pretty notably over the
last over the last few days. If you bring up print cookie,
right, like that figure was like 15 to 20% and and it wasn't like
fart coins overtaking, I think fart coins was about still 7
right even before this and it was AIXPT at like 15.
So what's happened is a bunch of the other coins have kind of
gained mind share from a XPT and that that is like if you before
following, that's been one of the like the main bull cases of
AIXPT. So I think you're right, you
were right to be cognizant that like if that goes, it could be
worrying. I think it was, to be honest.
It was trading like garbage even while the other coins were
trading strong yesterday, right? I I was saying in the chat it
was hitting 600 million as arc was hitting all time high and
then it just it zoomed hard so. So like the virtuals, the
virtuals is going to burn all the revenue to rebuy their
tokens. AIXPT is going to be a
beneficiary of that. So that's a bullish tailwind.
I guess the pitch is still easy. I just stats.
Maybe stats is just middle curved me when he came on the
show on Monday and just got into my head.
This is like they are G takes just aren't they're just not
that good. And you just like you're you're
fine with it when the tokens go up because you just don't care.
But then like the second it loses its mind chair is like,
why is why is this AI agent worth 900 $1,000,000 again?
All right, so I'll I'll stop buying ASPT I'm sure.
Raleigh retailers OV, OV says, comes in and buys AXPT because
it has AI in the name. That's that's literally OV's
thesis on AI. XPT #1 Mindset has AI in the
name. Yeah, I mean, I don't hate that
thesis at all. It's on Binance too.
It's the only one on Binance spot, so it still has the
Binance bounce. Big, big upcoming week for AI16Z
here and he's like this chart like if every dip, if every RIP
keeps getting sold off and going lower.
I think we're going to see some capitulation, but they've got V2
coming out. Eliza's still dominating.
I'm I'm still holding my tokens. I think it's becoming a more
popular opinion. The arc's going to flip it.
Weirdly think about those two projects, right?
AI16Z has this the most popular repo has dominated that, but was
a little bit slow or poorly executed on the partnerships bit
right. This partnership at the start,
they all started rugging like it didn't do that well and and the
token holders got annoyed and and like the way that they were
giving it back to the token holders wasn't great either like
the Dow got some coins and they were like rugged.
So but now they're like looking to build that marketplace.
It feels like arc is slightly further along down that path or
at least executing that slightly better, despite having a less
popular repo and is less known. It's slightly further down that
path. It may flip it, it may there's
there's like those two charts tell you that that could easily
happen. And this is the classic thing
that we've said since like the very early days with goat.
Like it's very tough to underwrite AI projects, utility
based projects or infra based projects for too long because
something new comes up and and then you know you get zero bro.
Gosh. And I like that project.
I like. I like it.
Too like it's just yeah, you got there's this new stuff everyday
and the trenches are not kind to new stuff coming coming out so.
It's not. Yeah, this is what it is.
Is you you mentioned new products this quickly like I, I
do not own any Moby so easy disclosure for me, but man, this
is one of the like the clear newest winners from this past
week. Yeah.
Debuted you could have bought it 30 to 50 million that first day.
It really hasn't dipped too much March until 130.
Have you used it? I haven't.
Oh good. Yeah, I don't.
I don't. I've tried to use a few of these
and I haven't been like super impressed with any of them.
Well, in Farrokh's words, that that's your mistake.
He's trying to use. He's trying to use.
But like this specific thing, which is like I'm going to get
the copilot, I'm going to get the thing that you like or
trading tool and the trading tool doesn't work and it's
trading close to where like banana bot trades, which makes
like. $60 million, I kind of question it.
Do you know what I mean? You can question it or you can
just close your eyes and hit the buy button.
That's kind of where we're at. Buy Moby the Whale.
Yeah, I'll be honest. Like when Moby came on the show
on Monday and he said he still thinks the AI sector is going to
go to 100 billion, it was harder for me to see the path in that
moment. I will admit it was.
It was hard for me to see that path.
I do think this open AI headline, you know, even though
it's not 500 billion being poured into crypto AI, it's just
being put into the private companies.
And then Elon came out and flooded it and says actually
closer to 10 billion, like what whatever the number is like it's
just more signal that that AI is a clear focus.
It does feel like that was probably important for this
crypto AI sector. It just kind of feels like like
for us to to go from 16 to 30, it's like to double from here.
Like what needs to happen, like new leaders need to come in and
go to three to four billion, kind of like either virtuals or
like Arc or Griffane comes in and does that move?
Like how would you see that path?
I don't think in this, I actually, I kind of get why we
have this massive rally on the back of it, although I agree
that it feels like slightly hollow statements in that it
won't be that high. But I actually think the
innovation can come from open AI or Google or like as I've said
before a few times, like a lot of people in this space
criticize it as basically piggybacking of what is going on
in Tradfly. And I see that as just like a
massive benefit, like the concept of it being a rapper,
ChatGPT, Like what these funds are going to do is they are
going to essentially wrap the technology that is often made in
Tradfi and make it into very valuable crypto products for
everyone and very valuable flywheels.
In the same way that like you're piggybacking off like other like
open source code maybe from the the broader development
community, you're piggybacking off the fucking Internet like
that. We are going to build tools here
that we are then going to be able to leverage into crypto.
And then you'll see real innovation of that bit where AI
meets finance, which I don't think any of the major AI firms
are going to touch. I don't think they're going to
come in here and build crypto tools or like they're, they're
going to expect our guys to basically jailbreak them or
repackage them in some sort of way, which is going to be super
valuable. So I, I think that the value
will be, hey, Google's releasing these cool AI, these AI agents
and they can do all this sort of stuff or open their eyes, going
to release their first AI agent in Q2.
That would be a massively bullish headline for this space.
Like this space would like might double on the back of something
like that. So that's what I actually think
it is. It's not that I necessarily
think we're going to see like, yeah, we've seen another copilot
like, Oh yeah, great. What I think it will be is we
will see actual innovation and some of that will come from our
side and that will get the will get the on chain code right that
they can do stuff. And they're building all that
out now. And some of it will come from
from from the from the broader AI community.
I'm totally aligned with that. So it's, it's a tailwind.
It's not as like I think a lot of people see it as a risk
vector that oh, OK, if if Google wants to spin up a team and come
in like they're going to eat all these teams lunch like in a
week, right? Like I've, I've, I've seen that
take go around, but the argument is that they're not, they don't,
they aren't going to do that. And their, their tech is being
open sourced and now all these teams will have access to better
code bases that are going to continue to get better, you
know, month over month. And then apply that to the
sector. It also makes me think like are,
are the bigger teams than the ones to bet on.
So like, if we're going to see rapid improvement, you, you want
the folks with the best devs, we're going to be able to
incorporate that and build on it and iterate on it the fastest.
And I don't know, that's the, I feel like that's the pitch for
AI16Z, right? Have they got the?
They've got the most devs. Yeah, I, I've said this before,
I don't think that Google going to be able to spin up a team to
do crypto better. I actually think that like we're
going to do that bit best. I actually think we're going to
do the bit around broader finance best like or at least
comparable like a really, I, I strongly believe that that a lot
of the innovation around these models meeting finance will come
from the crypto community because, and the reason for that
is isn't just like, and I wouldn't say this about many
things, but AI is built for crypto.
It's built for these rails. It's actually not built that
well for the SWIFT banking system.
It's built for having a wallet be able to do stuff autonomously
by itself, reading the code to be able to do that like.
So I think we'll see really cool stuff from come from crypto
meets AI and I think it will be crypto teams that do a lot of
that. But just to say, oh, because the
model was made by it's a llama model, like it's the fucking
meta open source model that's doing that.
That's just like, think of it as a tool.
Think of it as a tool right now you're you're thinking of it too
much like, Oh, you won't be able to back value capture from that.
And I think that's just completely wrong.
Strong case folks, AI is back and the ceiling has been lifted.
I said that on X yesterday and I and I do believe for am I that
it has. So it's going to be, I hope you
didn't give up on the AI bags, but still time perhaps to get
back in with that. We're on the horn.
I, I think we covered everything really on on my primary list.
There's a few headlines like Kaido introduced a new project
launchpad. Perhaps we can get into that.
The yappers are are yapping about it and they're perhaps
going to have a chance to participate in in that.
I have been yapping a little bit more.
Am I? Am I doing better?
Well, let's let's check it out, see if I can pull up the board.
And the number one radium influencer in all geographies at
the moment, so. There's a rant.
If there's a radium specific category, you will be #1 like.
That much I'll speak to them about that.
That much is clear. Can you search all right, I'm
having CT leaderboard here we are.
I don't know how to search. We'll, we'll, we'll pull this up
so. I'm not, I'm not Page 1 then
basically is what you're saying I'm.
Not seeing yet here on on page one unfortunately, but hey, this
is the reason you get out of bed.
Wow where's mando? OK, I've got the list now I'm
scrolling down OVOVS 48th You're on the day.
Oh no, I'm not seeing you. I'm so.
Watched. I'm so watched.
Number one radium influencer in all geographies is not even in
the top 100 influences. It's over for me.
Not great. Wait that that was on the 30
day. Let's see if if we zoom in to
the last in the last week. Are are you doing any better
here? I don't know similar.
Looks like it's a similar story guys.
Reply Reply guy to Mando so he can he can boost his his yap.
How do I get my points high? Like how do I become a?
It's a little bit more about having conversations.
So like you, you post something and then people will reply and
then like chatting it out with them, perhaps replying if anyone
else. Like if Anson's posting about
radium, talking to him about how you 2.
Can get on the sphere like you 4.
You just come for handsome so often it is so funny.
Where? Where's the sphere phones?
Did you own Whip? Have you ever owned Whip?
I don't think I've ever heard you talk about it.
Yeah, it was my, it was one of my trades of the cycle for.
Sure. Oh really?
So now you like fuck this guy. I'm out.
But it's just, it's just fine that they never did anything
with the sphere phones, right? Like if you're a holder who who
gave to that, like there was a time where that could have been
a very impactful thing and then they just didn't do it.
And now, like now, it would not move the needle at all.
So, and it's just funny. It's funny to rag on handsome.
But all right, folks, we're, we're rambling a bit.
It was a good show. Thanks for tuning in today.
We'll be back tomorrow. Hopefully Faroque is feeling
better. Until then, go make it a
beautiful day. Goodbye.