1 00:00:01,360 --> 00:00:06,600 Good morning, good morning GMGM, everyone, and welcome to another 2 00:00:06,600 --> 00:00:12,480 episode of Omo. Our next next is Wednesday, June 3 00:00:12,520 --> 00:00:19,640 11th. Another electric morning, Joyful 4 00:00:19,640 --> 00:00:23,880 June or the lovely Summer of Risk because our good friend OSF 5 00:00:24,000 --> 00:00:27,040 has coined it. We've got the China trade deal. 6 00:00:27,040 --> 00:00:29,920 It might be Don CPI came in under. 7 00:00:29,920 --> 00:00:32,040 A lot of our coins are moving this morning. 8 00:00:32,040 --> 00:00:36,400 And the question, is it finally time for alts like Soul and ETH 9 00:00:36,480 --> 00:00:38,560 to shot? We're going to break it all down 10 00:00:38,600 --> 00:00:40,000 on today's show. No, for Oak. 11 00:00:40,000 --> 00:00:42,400 He's traveling back from Paris. We got Mando in the house. 12 00:00:42,400 --> 00:00:45,480 We got stats in the house. Logan as well, boys. 13 00:00:45,480 --> 00:00:49,040 GM Mando, how you doing? I'm doing great man. 14 00:00:49,040 --> 00:00:50,840 How are you? I'm good. 15 00:00:51,560 --> 00:00:54,600 Another very exciting and fast-paced morning. 16 00:00:54,600 --> 00:00:57,360 The news has been coming in fast here today. 17 00:00:57,360 --> 00:01:00,400 You can love to see it. You got stats back? 18 00:01:00,680 --> 00:01:02,560 Market's so hot. We we even got stats to come 19 00:01:02,560 --> 00:01:04,160 back on with us. How you doing? 20 00:01:04,519 --> 00:01:08,440 What's up boys, How you doing? And girls in the audience, not 21 00:01:08,440 --> 00:01:11,280 just boys around here. Well, we have a handful, Yeah. 22 00:01:12,800 --> 00:01:15,800 So shout out to the ladies out there, TuneIn, every morning. 23 00:01:15,800 --> 00:01:18,320 Thank you for joining us. So we've got Logan on as well. 24 00:01:18,320 --> 00:01:20,680 Logan, Jim, how you doing? Hey, good morning. 25 00:01:21,040 --> 00:01:24,360 Doing well, sunshine, beautiful day, markets looking good, 26 00:01:25,320 --> 00:01:27,440 feeling good. All right, well, let's get into 27 00:01:27,440 --> 00:01:29,680 it. Not a no one's making too much 28 00:01:29,680 --> 00:01:32,120 small talk here this morning. There's too much to to dive 29 00:01:32,120 --> 00:01:34,000 into. I'm on board with that. 30 00:01:34,000 --> 00:01:35,240 So what are we talking about on today's show? 31 00:01:35,240 --> 00:01:36,600 We're going to get into the market report. 32 00:01:36,600 --> 00:01:40,600 Is this trade deal done? CPI recession odds down to 25%. 33 00:01:41,120 --> 00:01:43,640 The calls for that recession seem to be seem to have been 34 00:01:43,640 --> 00:01:46,640 greatly overblown. We're going to talk about the 35 00:01:46,640 --> 00:01:47,800 E*Trade. We talked about the E*Trade for 36 00:01:47,800 --> 00:01:50,080 like 30 minutes yesterday. But I also want to get stats 37 00:01:50,080 --> 00:01:54,160 depending on this as a longer term ETH holder and bowl. 38 00:01:54,840 --> 00:01:57,040 So we'll talk about that. The sole stake in ETF is 39 00:01:57,040 --> 00:01:59,280 arguably the biggest news of the day. 40 00:01:59,280 --> 00:02:02,160 The sole ETF is likely coming in the next three to five weeks. 41 00:02:02,400 --> 00:02:04,760 Hype actively hitting another all time high. 42 00:02:04,760 --> 00:02:09,240 We got the first Tau corporate treasury Marad back. 43 00:02:09,520 --> 00:02:12,840 Marad fully back as his downstream coins are even 44 00:02:12,840 --> 00:02:15,880 catching the big we got another big Kaido AirDrop and a little 45 00:02:15,880 --> 00:02:20,840 bit of a a major drop from virtuals on ETH, but also a bit 46 00:02:20,920 --> 00:02:23,560 of a a hiccup in there. So we'll talk about that plus a 47 00:02:23,560 --> 00:02:26,400 lot more before we dive into it. 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Let's say we the main figure was 64 00:03:26,560 --> 00:03:30,040 CPI, CPI, the consumer price index. 65 00:03:30,120 --> 00:03:34,840 It's probably one of the more followed inflation indices and 66 00:03:34,840 --> 00:03:37,240 it came in slightly below expectations, which is kind of 67 00:03:37,240 --> 00:03:41,080 what I said I was expecting yesterday or at least it 68 00:03:41,080 --> 00:03:42,920 wouldn't be as bad as people thought it would be. 69 00:03:43,680 --> 00:03:46,600 We've seen a bit of a rally on the back of it yesterday. 70 00:03:46,880 --> 00:03:52,400 Yesterday was pretty strong for for macro but and particularly 71 00:03:52,400 --> 00:03:56,120 some of the L ones. But today we've seen most of 72 00:03:56,120 --> 00:03:59,560 those hold at least hold on to their gains E around 2800 right 73 00:03:59,560 --> 00:04:01,440 now. That was break. 74 00:04:01,440 --> 00:04:06,360 That's kind of broken out of a multi week trend there for for 75 00:04:06,360 --> 00:04:08,280 Eve. So it's a it's a relatively good 76 00:04:08,280 --> 00:04:09,800 sign. We were kind of in that trend 77 00:04:09,800 --> 00:04:15,480 since let's say mid-May, early May Salaam is also creeping back 78 00:04:15,480 --> 00:04:17,399 up. We can get into like specific 79 00:04:17,399 --> 00:04:19,640 news on that, but that's that's kind of been the biggest 80 00:04:19,640 --> 00:04:25,840 outperformer, I'd say after 166 and then height obviously at 43. 81 00:04:26,000 --> 00:04:29,320 So good movement in a number of the different ones. 82 00:04:29,320 --> 00:04:32,960 Let's say. I don't think CPI like I don't 83 00:04:33,000 --> 00:04:34,480 think it's like some crazy chains. 84 00:04:34,480 --> 00:04:38,440 It has been a few more rumblings that, you know, the Fed chair 85 00:04:38,440 --> 00:04:40,760 might be replaced. It's pretty difficult for the 86 00:04:40,760 --> 00:04:42,480 president to do that. I'd be very surprised that 87 00:04:42,480 --> 00:04:44,760 Jerome Powell did leave. But there was a headline 88 00:04:44,760 --> 00:04:47,640 yesterday which was essence being considered for that role, 89 00:04:47,640 --> 00:04:51,160 which I think it's, yeah, relatively surprising still. 90 00:04:51,160 --> 00:04:53,280 But let's see, let's see where that heads. 91 00:04:54,080 --> 00:04:57,560 We saw some retraction of of the comments from Trump and Elon 92 00:04:57,560 --> 00:05:00,720 both kind of like they're making up, it feels like in the 93 00:05:00,720 --> 00:05:04,400 comments at least. So feels like whatever worry 94 00:05:04,400 --> 00:05:09,360 people had around that is is seemingly drifting away for 95 00:05:09,360 --> 00:05:11,800 blockchain specific stuff. I would say the main thing is 96 00:05:11,800 --> 00:05:15,160 what we've been flagging for a bit here, but that staking ETFs 97 00:05:15,160 --> 00:05:18,360 could be around the corner. And we saw more, more concrete 98 00:05:18,640 --> 00:05:21,920 examples of that over the last 24 hours in that the S1 99 00:05:21,920 --> 00:05:25,360 applications for the salon ETS were asked to be resubmitted, 100 00:05:26,080 --> 00:05:28,640 all showing how they would do staking. 101 00:05:30,040 --> 00:05:32,040 Now the east ones, I think there's a number of them already 102 00:05:32,040 --> 00:05:35,960 submitted and we'll see how they go in the in the next month. 103 00:05:36,240 --> 00:05:39,480 But we're, we're in a world here where we could see ETF's 104 00:05:39,520 --> 00:05:43,520 approved this month for staking and salon ETFs approved within 105 00:05:44,560 --> 00:05:47,520 the next, next few months. So there's definitely a path 106 00:05:47,520 --> 00:05:49,840 here for that. And we saw Solana react 107 00:05:49,840 --> 00:05:52,320 positively off the back of that. We saw a number of other L ones 108 00:05:52,320 --> 00:05:55,840 also react positively, ones with staking in particular. 109 00:05:57,400 --> 00:06:01,360 We've also seen some of the big, big like let's say major meme 110 00:06:01,360 --> 00:06:04,560 coins have a have a decent day far coin up to 1.4. 111 00:06:05,080 --> 00:06:07,960 It's continued it's move. You've seen SPX move all the way 112 00:06:07,960 --> 00:06:12,720 up to about $1.5 billion, which is a very strong move. 113 00:06:13,480 --> 00:06:16,560 And yeah, just generally feels as though risk, risk taking is 114 00:06:16,560 --> 00:06:18,480 kind of back on in that bit of the market. 115 00:06:19,160 --> 00:06:22,680 I would say that the hype move is, is also in this context of 116 00:06:22,680 --> 00:06:24,960 D5 also having a very good period here. 117 00:06:24,960 --> 00:06:28,560 We've again seen uni hype and are they all have very good 118 00:06:28,560 --> 00:06:31,280 days. And those seem to be the three 119 00:06:31,280 --> 00:06:33,760 most loved coins that say in the D5 landscape. 120 00:06:35,280 --> 00:06:37,280 And it's yeah, it's been a good week for those. 121 00:06:37,280 --> 00:06:41,520 So decent, decent across the board for a bunch of different 122 00:06:41,520 --> 00:06:43,440 risk stuff. But I would say that the the 123 00:06:43,440 --> 00:06:45,960 number one headline in all the crypto is that sticking ETF's 124 00:06:45,960 --> 00:06:49,600 are coming and that's enough of a narrative to push ETH and 125 00:06:49,600 --> 00:06:53,600 Solana higher. We actually saw ETH PERT volume 126 00:06:53,600 --> 00:06:57,320 surpassed Bitcoin for the first time in many, many months 127 00:06:57,320 --> 00:07:00,360 yesterday. So it is a sign that that is it 128 00:07:00,360 --> 00:07:03,120 is picking up in terms of activity as well. 129 00:07:05,040 --> 00:07:10,720 Big news, a lot of directions we can go, maybe we pull back and 130 00:07:10,720 --> 00:07:14,040 and talk some of the the macro news a bit so. 131 00:07:14,360 --> 00:07:18,920 First, let me just jump in real quick because I think the thing 132 00:07:18,920 --> 00:07:22,320 on Scott. Besson is that Powell's term's 133 00:07:22,320 --> 00:07:25,080 over in 11 months, so. The. 134 00:07:25,080 --> 00:07:26,880 Question right now is who's he going to get replaced with? 135 00:07:26,960 --> 00:07:30,200 I don't think this was discussion of of Trump removing 136 00:07:30,200 --> 00:07:32,320 Powell. There's a big question right now 137 00:07:32,320 --> 00:07:34,040 of. Who's who's he going to? 138 00:07:34,040 --> 00:07:35,640 Replace him with because regardless what happens in 139 00:07:35,640 --> 00:07:38,880 Powell with Powell in 11 months, we're going to get one of the 140 00:07:38,880 --> 00:07:41,920 most dovish Trump friendly fed shares in the history of the 141 00:07:41,920 --> 00:07:43,920 planet. And I think that that's the, I 142 00:07:43,920 --> 00:07:45,960 think that's what the conversation was and I almost 143 00:07:45,960 --> 00:07:48,080 think markets are like. At some level like. 144 00:07:48,080 --> 00:07:50,720 You start pricing stuff in a year in advance, but whoever's 145 00:07:50,720 --> 00:07:53,200 coming in is going to do whatever Trump wants him to do, 146 00:07:53,200 --> 00:07:55,320 which will likely mean extreme dovishness. 147 00:07:57,720 --> 00:07:59,080 Yeah, Yeah, I think that's, I think that's bad. 148 00:08:00,720 --> 00:08:05,480 And market pricing just a 12%. So I think people, some people 149 00:08:05,480 --> 00:08:07,800 are just kind of running with those headlines a bit, but seems 150 00:08:07,800 --> 00:08:10,600 like more of a job search stats. I'm curious actually reactions 151 00:08:10,600 --> 00:08:12,720 to this Elon flood. We were chatting about it in 152 00:08:12,720 --> 00:08:14,600 some of the group chats last week. 153 00:08:15,080 --> 00:08:18,560 Now, I mean, Elon, not only has he deleted the tweets, he he's 154 00:08:18,920 --> 00:08:20,440 come out and basically apologized. 155 00:08:21,880 --> 00:08:26,680 I mean, I tweeted about this at the time like nothing he was 156 00:08:26,680 --> 00:08:28,480 saving saying served him in any way. 157 00:08:28,920 --> 00:08:32,480 Like he gets into these modes. And if you like, I follow Elon 158 00:08:32,480 --> 00:08:35,200 sometimes, sometimes I mute him, sometimes I because if you don't 159 00:08:35,200 --> 00:08:36,679 mute him, you see every tweet he posts. 160 00:08:36,960 --> 00:08:41,480 But I've, I follow him a fair bit and he has these rants where 161 00:08:41,480 --> 00:08:43,320 I personally, some people disagree. 162 00:08:43,320 --> 00:08:46,640 I personally think he's drugged up on something and he's angry 163 00:08:46,640 --> 00:08:49,160 about something and he tweets 20 times an hour. 164 00:08:49,440 --> 00:08:51,000 Which? As someone who tweets a lot, 165 00:08:51,640 --> 00:08:53,960 like 20 times an hour is very hard to do. 166 00:08:54,440 --> 00:08:57,120 Like I tweet a lot and I tweet a lot when I'm buzzed out on 167 00:08:57,120 --> 00:09:00,120 caffeine or whatever. I mean, I don't do really drugs 168 00:09:00,120 --> 00:09:02,360 that are harder than that, but like but even. 169 00:09:02,360 --> 00:09:03,840 Just coffee I I start. Start. 170 00:09:03,840 --> 00:09:06,520 Ranting, you know, sometimes and, and he he was in the same 171 00:09:06,520 --> 00:09:10,480 mode earlier on when they were talking about the visas that 172 00:09:10,480 --> 00:09:12,440 they were giving to people from India and other places. 173 00:09:12,440 --> 00:09:14,040 That became a big issue. He was the same way. 174 00:09:14,040 --> 00:09:17,000 I mean, he just goes on his rants and I think he got into 175 00:09:17,000 --> 00:09:19,720 one against President Trump. And I don't think he was 176 00:09:19,720 --> 00:09:22,240 checking himself. And of course, you come down and 177 00:09:22,240 --> 00:09:24,120 you kind of get back to your normal self. 178 00:09:24,120 --> 00:09:26,320 And these people are very volatile humans. 179 00:09:26,440 --> 00:09:28,720 Like you start to say, wait, that that was probably pretty 180 00:09:28,720 --> 00:09:30,720 dumb. And then on top of that, Trump's 181 00:09:30,720 --> 00:09:32,440 someone who he's aligned with on a lot of stuff. 182 00:09:32,440 --> 00:09:35,600 So I'm not surprised here. I don't like, I don't think what 183 00:09:35,600 --> 00:09:37,240 he was doing. And I tweeted at this at the 184 00:09:37,240 --> 00:09:40,680 time, what he was doing did not serve him or his companies in 185 00:09:40,680 --> 00:09:43,800 any way, shape or form. And it you know, I, it's still 186 00:09:43,800 --> 00:09:47,200 apology or not like, you know, you when, when you show that 187 00:09:47,200 --> 00:09:49,320 side to yourself in such a public way, I don't think you're 188 00:09:49,320 --> 00:09:53,440 ever back on the island. Yeah, and, and not only does he 189 00:09:53,480 --> 00:09:57,640 tweet 20 times an hour, but he's he's Jerry rigged his own social 190 00:09:57,640 --> 00:10:00,160 media platform to make sure that all his posts are by far the 191 00:10:00,160 --> 00:10:04,400 most amplified on the platform. I mean, it's just like he's just 192 00:10:04,400 --> 00:10:07,680 like whittling down his support. Like now everybody's got 193 00:10:07,680 --> 00:10:10,440 something to dislike about the guy on, you know, on both sides 194 00:10:10,440 --> 00:10:12,720 of the spectrum, but of the political spectrum. 195 00:10:12,720 --> 00:10:15,880 But you can't, I mean, whatever you, you don't say those things 196 00:10:15,880 --> 00:10:18,480 and suddenly say sorry and then get back on the island. 197 00:10:18,480 --> 00:10:21,040 That's not how. That's not how strong minded 198 00:10:21,040 --> 00:10:23,880 people work. Tesla stock already totally 199 00:10:23,880 --> 00:10:27,600 rebounded so they shook off the the the fight FUD. 200 00:10:28,760 --> 00:10:30,560 They're worth more than every other car company in the world 201 00:10:30,560 --> 00:10:33,200 combined. Do you think Trump is going to 202 00:10:33,200 --> 00:10:36,200 hold a grudge here or do you think he they're going to make 203 00:10:36,200 --> 00:10:37,720 peace? Well, I think that. 204 00:10:37,720 --> 00:10:39,920 He's, I think that Elon's going to get pissed about stuff in the 205 00:10:39,920 --> 00:10:42,200 future like I like. I don't think he's just going to 206 00:10:42,200 --> 00:10:48,040 be go back to being entirely, you know, entirely subservient. 207 00:10:48,040 --> 00:10:50,200 I think he's going to get pissed about other stuff in the future. 208 00:10:50,480 --> 00:10:52,960 He's a very volatile person. And this is like he's in kind of 209 00:10:53,000 --> 00:10:54,880 a bit more of a quiet time. And then when he gets loud 210 00:10:54,880 --> 00:10:57,320 again, and the irony too is like when he goes on these rants, he 211 00:10:57,320 --> 00:11:00,160 never talks about his companies. It's just always about whatever 212 00:11:00,160 --> 00:11:02,920 he's pissed about. So I, I don't think, you know, I 213 00:11:02,960 --> 00:11:05,360 like it serves both of them to be on each other's team. 214 00:11:05,480 --> 00:11:08,240 There's there's no benefit, but I think there was a lot of love 215 00:11:08,240 --> 00:11:11,720 lost. Well, one of the drivers of the 216 00:11:11,920 --> 00:11:15,400 the fight was over money printing and we actually got a 217 00:11:15,400 --> 00:11:18,760 pretty big money printing headline last night. 218 00:11:18,760 --> 00:11:24,680 Mando surfaced this that China stepped in another $1.5 trillion 219 00:11:24,680 --> 00:11:27,040 fund to boost home market support. 220 00:11:27,040 --> 00:11:30,840 So China is actively printing it seems. 221 00:11:31,560 --> 00:11:35,200 So we're adding to those M2 tailwinds. 222 00:11:35,520 --> 00:11:37,880 Let's see if we've got an updated chart here that we can 223 00:11:39,320 --> 00:11:44,800 briefly pull up. Yeah, that's, that's just going 224 00:11:44,800 --> 00:11:46,480 to continue. I mean, that is not a problem. 225 00:11:46,480 --> 00:11:48,360 That's like, oh, suddenly they're not going to do that. 226 00:11:48,600 --> 00:11:54,120 Like China has a problem of massively building out its its 227 00:11:54,120 --> 00:11:59,160 housing supply and its population is shrinking at a 228 00:11:59,160 --> 00:12:02,120 very quick speed. Like that is just a multi decade 229 00:12:02,120 --> 00:12:06,320 issue like so. And it's, and to be clear, China 230 00:12:06,320 --> 00:12:08,720 property is the biggest market in the whole world, single asset 231 00:12:08,720 --> 00:12:12,160 class in the whole world. It's it's, it's bigger than U.S. 232 00:12:12,160 --> 00:12:16,520 stocks in terms of size. So you're going to talk about 233 00:12:16,520 --> 00:12:19,320 unbelievable amounts of money printing to go into that? 234 00:12:20,880 --> 00:12:23,720 So quickly check WhatsApp, Tyler, while we're discussing 235 00:12:23,720 --> 00:12:29,400 this. OK, Yeah, it looks like the the 236 00:12:29,440 --> 00:12:31,960 Spaces is having issues, folks. Sorry about that. 237 00:12:32,080 --> 00:12:34,320 If you're having trouble in the Spaces, just come come join us 238 00:12:34,320 --> 00:12:36,360 over in the stream. I don't know what what's 239 00:12:36,360 --> 00:12:40,520 happening with this. I'll continue to try to tinker 240 00:12:40,520 --> 00:12:44,760 with it during the show. The other big headline and we'll 241 00:12:44,760 --> 00:12:47,400 get into slow ETF here in a bit. I want to talk about that. 242 00:12:47,400 --> 00:12:53,560 But from a macro standpoint, this trade deal, it looks like 243 00:12:53,560 --> 00:12:57,960 we might actually have the the trade deal done or at least an 244 00:12:57,960 --> 00:13:00,800 agreement in principle. I'm trying to find the details 245 00:13:00,880 --> 00:13:04,960 here. Trump tweeted out this morning, 246 00:13:04,960 --> 00:13:12,960 believe on Truth Social that tariff on we don't have the 247 00:13:12,960 --> 00:13:16,000 details, 55% on China, we're getting 10% back. 248 00:13:16,280 --> 00:13:18,320 Says the relationship is excellent. 249 00:13:19,240 --> 00:13:21,320 Curious, are we buying that this is over? 250 00:13:21,600 --> 00:13:23,240 Like are we out of the woods on this? 251 00:13:23,240 --> 00:13:26,200 And then I guess Part 2, is this a good outcome? 252 00:13:26,760 --> 00:13:30,600 55% is pretty high above where things were. 253 00:13:30,880 --> 00:13:32,400 So like do we think this is the final? 254 00:13:32,680 --> 00:13:38,040 Any reactions to this? I mean, it's my my first 255 00:13:38,040 --> 00:13:39,440 reaction. The reason I think about it 256 00:13:39,440 --> 00:13:42,040 because my wife actually is from Hong Kong. 257 00:13:42,040 --> 00:13:44,160 So she's I guess Chinese and she went to Harvard. 258 00:13:44,160 --> 00:13:46,040 So she was kind of in that bucket of people who are called 259 00:13:46,040 --> 00:13:48,680 the national security risk by, by the president. 260 00:13:48,680 --> 00:13:52,080 So it's kind of interesting to say here to see him say here, 261 00:13:52,720 --> 00:13:54,760 Chinese people going to the universities has always been 262 00:13:54,760 --> 00:13:56,880 good with me when he was calling them a national security threat 263 00:13:56,880 --> 00:14:00,600 just a week ago. I think my view on this stuff is 264 00:14:00,600 --> 00:14:04,480 like the whole Taco thing, like Trump always chickens out was a 265 00:14:04,480 --> 00:14:07,600 meme that people kind of used to dunk on Donald Trump, which, but 266 00:14:07,600 --> 00:14:10,160 I think the, the, the theme there, once you, if you get away 267 00:14:10,160 --> 00:14:13,880 from the dunk, I think the theme there, you know, kind of put 268 00:14:13,880 --> 00:14:17,440 more nicely is that it's been clear that Trump kind of cares 269 00:14:17,440 --> 00:14:21,280 about the stock market, about the stock market's been very, 270 00:14:21,280 --> 00:14:25,400 very closely correlated with his approval ratings and his 271 00:14:25,400 --> 00:14:27,360 popularity. When this market, he's, I think 272 00:14:27,360 --> 00:14:30,000 back to a much higher popularity now the markets have gone up. 273 00:14:30,000 --> 00:14:31,920 The worst he was doing was when the market tanked. 274 00:14:32,200 --> 00:14:35,160 I think, I think it's like clear that he cares about that stuff a 275 00:14:35,160 --> 00:14:38,080 lot more than he cares about kind of the, the, the free 276 00:14:38,080 --> 00:14:41,480 trades or, or the tariffs, which I personally thought was his 277 00:14:41,480 --> 00:14:43,560 priority two months ago. But I think that's just been 278 00:14:43,560 --> 00:14:45,360 proven wrong. And I think the market knew 279 00:14:45,360 --> 00:14:48,760 that, like decided that three weeks ago, 4 weeks ago, even a 280 00:14:48,760 --> 00:14:50,080 month. I mean, we've had one of the 281 00:14:50,080 --> 00:14:52,720 biggest rallies in risk assets that you've had this entire 282 00:14:52,720 --> 00:14:55,400 century. You know, stocks are up 283 00:14:55,400 --> 00:14:57,840 something like 21%. So I think the markets are 284 00:14:57,840 --> 00:15:01,680 basically pricing in that this stuff is not going to have huge 285 00:15:01,680 --> 00:15:04,760 impacts on the market. And I as a result, I don't, I, 286 00:15:04,800 --> 00:15:07,720 I, I feel like this good news is kind of already, it's kind of 287 00:15:07,720 --> 00:15:10,520 already priced in based on, based on the signals that we've 288 00:15:10,520 --> 00:15:11,760 just kind of been getting non-stop. 289 00:15:11,760 --> 00:15:13,560 Now, who knows? These are volatile people. 290 00:15:13,560 --> 00:15:15,400 It could, it could go the other way, but that, that's kind of my 291 00:15:15,400 --> 00:15:17,400 rate. I don't, I don't, I, I think you 292 00:15:17,400 --> 00:15:20,840 had this happened, you know, in the market, you know, a month 293 00:15:20,840 --> 00:15:22,640 ago it would have been a huge sigh of relief, but I think at 294 00:15:22,640 --> 00:15:23,920 this point the market started pricing. 295 00:15:25,680 --> 00:15:29,120 Yeah, and we already have a full V shape recovery from the the 296 00:15:29,120 --> 00:15:34,520 tariff sell off on our was it, it wasn't Independence Day. 297 00:15:34,520 --> 00:15:36,920 What what was the? I'm blanking on on what we 298 00:15:36,920 --> 00:15:38,080 called. Liberation Day. 299 00:15:38,080 --> 00:15:40,600 Liberation Day. The the Liberation Day sell off. 300 00:15:40,600 --> 00:15:44,360 You can see it here the. Bad news is that we didn't get 301 00:15:44,360 --> 00:15:46,840 liberated from every we were liberating from The good news is 302 00:15:46,840 --> 00:15:50,080 that no one want to be liberated anyway, so it's the good and the 303 00:15:50,080 --> 00:15:52,440 bad. That's exactly how it played 304 00:15:52,440 --> 00:15:53,960 out. But I think one of my takeaways 305 00:15:53,960 --> 00:15:55,440 looking this morning, so CPI was good. 306 00:15:55,480 --> 00:16:00,720 I think the CME futures odds of a rate cut in September jumped. 307 00:16:00,720 --> 00:16:05,200 I, I want to say I saw them over 50, oh, 57% now. 308 00:16:05,200 --> 00:16:08,160 So looking favorite outcome. We're going to get a cut in 309 00:16:08,440 --> 00:16:11,840 September. Now it is, it looks like some of 310 00:16:11,840 --> 00:16:15,480 the barriers, the FUD levers have been removed. 311 00:16:15,760 --> 00:16:20,640 So like inflation's OK right now trade deal with China is being 312 00:16:20,640 --> 00:16:23,960 worked out. So it seems like more of a setup 313 00:16:24,200 --> 00:16:29,000 for clear skies, which is driving what the people are 314 00:16:29,000 --> 00:16:31,920 starting to coin as this joyful June narrative. 315 00:16:31,960 --> 00:16:35,160 And I'm I'm certainly feeling more joyful by the day. 316 00:16:35,280 --> 00:16:40,400 Let's talk about this the soul ETFs, man, Maybe I'll I'll throw 317 00:16:40,400 --> 00:16:43,320 it to you. And we talked a couple impacts 318 00:16:43,320 --> 00:16:45,560 already. Staking is going to be likely a 319 00:16:45,560 --> 00:16:47,600 part of this. That's going to be a huge 320 00:16:47,600 --> 00:16:49,960 differentiator for both ETH and Solana. 321 00:16:49,960 --> 00:16:53,000 Do you think we're going to see sole pump into this? 322 00:16:53,480 --> 00:16:57,560 Have you adjusted or have you been thinking any differently 323 00:16:57,560 --> 00:17:00,040 about trades or positioning because of this? 324 00:17:00,080 --> 00:17:05,800 Potential news here. No, I, I think my gut here is 325 00:17:05,800 --> 00:17:10,000 that the salon ETF is still going to be a few months away, 326 00:17:10,560 --> 00:17:13,119 but I don't Polymarket has odds for all of this, right? 327 00:17:13,119 --> 00:17:16,240 So if you go to Polymarket, maybe we can look at it sole ETF 328 00:17:16,240 --> 00:17:18,760 like in terms of timing, I actually haven't seen if it's 329 00:17:18,760 --> 00:17:23,640 been adjusted, but I still think we're talking probably about Q3 330 00:17:25,880 --> 00:17:30,400 sole ETF. Interestingly, now it's like 331 00:17:30,400 --> 00:17:36,080 5050 for 61% is by July 31st. So maybe it is sooner than I 332 00:17:36,080 --> 00:17:37,840 thought. I, I, I still got the feeling it 333 00:17:37,840 --> 00:17:44,200 would be, it would be like autumn time, but it's now 60% 334 00:17:44,200 --> 00:17:45,440 chance that it'll be done by 31st. 335 00:17:45,440 --> 00:17:53,400 So December 31st is like 90%. So it really depends on the 336 00:17:53,400 --> 00:17:54,960 timing thing there. But I do think it's a good, a 337 00:17:54,960 --> 00:18:01,520 good headline for that. My trade is still the spin that 338 00:18:01,520 --> 00:18:05,120 I think ether is going to be OK. So I have not adjusted on 339 00:18:05,280 --> 00:18:07,520 anything around that. I think this is good for solver 340 00:18:07,720 --> 00:18:10,880 for sure. This, this is the the staking 341 00:18:10,880 --> 00:18:13,560 component. Like you can stake ETH and you 342 00:18:13,560 --> 00:18:17,880 get like 3%, you stake Solana, you get like 6 or 7%. 343 00:18:17,880 --> 00:18:21,640 So like as a relative thing about the ETF, this will be more 344 00:18:21,640 --> 00:18:28,240 attractive, I think for Solana, but I think it takes a while for 345 00:18:28,240 --> 00:18:31,240 these sort of things to were up and get AUM. 346 00:18:31,400 --> 00:18:33,880 That's my, that's my guess. As we saw with each like it 347 00:18:33,880 --> 00:18:38,040 doesn't takes a long time for like the pitch for it to go to 348 00:18:38,040 --> 00:18:40,240 all the different investor classes to get to get to all the 349 00:18:40,240 --> 00:18:45,880 different wealth managers. Like this is a very slow moving 350 00:18:45,880 --> 00:18:51,480 bit of, of the industry. And I, I, I don't think you're 351 00:18:51,480 --> 00:18:53,960 necessarily going to see like unbelievable inflows into the 352 00:18:53,960 --> 00:18:58,080 Solana ETF at the start. We've only just started to see 353 00:18:58,080 --> 00:19:00,440 if it right. We've only just started to see 354 00:19:00,440 --> 00:19:04,800 decent inflows into the ETF. So my guess is it can be 355 00:19:04,800 --> 00:19:08,040 slightly slow at the start, at least for like the first three 356 00:19:08,040 --> 00:19:09,240 months. The first day you can still be 357 00:19:09,240 --> 00:19:11,280 strong or the first like week can still be strong, but it can 358 00:19:11,280 --> 00:19:12,840 be a bit slow. But I do think this is a good 359 00:19:12,840 --> 00:19:16,480 narrative for Solana. It's interesting, I think ahead 360 00:19:16,480 --> 00:19:20,240 of the Bitcoin ETFs, we had the huge run up tons of buy pressure 361 00:19:20,240 --> 00:19:23,880 and then it was sell the news. And I think somewhat similar 362 00:19:23,880 --> 00:19:28,880 with ETH, but a little bit less. So I'm wondering if the market 363 00:19:28,880 --> 00:19:31,800 will have corrected A to a degree and just understands that 364 00:19:31,800 --> 00:19:35,080 just because Seoul ETFs get approved doesn't mean that it's 365 00:19:35,080 --> 00:19:38,400 going to be massive capital influx week 1. 366 00:19:38,400 --> 00:19:42,320 So perhaps we'll see more of a muted run into the He's fighting 367 00:19:42,320 --> 00:19:43,560 bro, are you? Fighting. 368 00:19:43,920 --> 00:19:48,200 Fighting on the timeline. I mean, Ethan's up more this 369 00:19:48,200 --> 00:19:51,640 week than Seoul with the with the ETF news. 370 00:19:52,200 --> 00:19:54,680 I mean that there there's some kind of signal there. 371 00:19:54,920 --> 00:19:57,520 Well, it's kind of weird. You know, it's like, on the one 372 00:19:57,520 --> 00:20:01,280 hand, a year ago, ETFs were everything or I, I don't know, 373 00:20:01,280 --> 00:20:03,840 maybe I have my timeline mixed up, but there was a time where 374 00:20:03,840 --> 00:20:08,120 like ETF flows were like ETF news was the only thing the 375 00:20:08,120 --> 00:20:10,320 market cared about. And I think rightfully so. 376 00:20:10,320 --> 00:20:13,000 I mean, look at all the new money that's kind of flowed into 377 00:20:13,000 --> 00:20:14,800 Bitcoin and Ether as a result of the ETFs. 378 00:20:16,280 --> 00:20:18,320 But at the same time, Ether's performed poorly. 379 00:20:18,720 --> 00:20:21,560 So I like I, I don't know the exact numbers, but ETH has not 380 00:20:21,560 --> 00:20:24,600 done well since getting the ETF. So I think there's just a bit of 381 00:20:24,600 --> 00:20:27,000 confusion in the market. Well, now we're 2035, but. 382 00:20:27,160 --> 00:20:30,160 For much of the time, like ETH has not done well since getting 383 00:20:30,160 --> 00:20:32,200 the ETF. So I think there's a lot of kind 384 00:20:32,200 --> 00:20:35,600 of confusion in the marketplace of like, do I want is, is this 385 00:20:35,600 --> 00:20:38,000 the catalyst we want to buy given the trajectory ETH had 386 00:20:38,000 --> 00:20:40,240 after the ETF? Like how bullish is this 387 00:20:40,240 --> 00:20:42,280 necessarily? Like on the one hand, I don't 388 00:20:42,280 --> 00:20:45,360 see how in the world it's not given the fact that you're, as 389 00:20:45,360 --> 00:20:47,320 you've been tweeting about, Tyler, the amount of inflows 390 00:20:47,320 --> 00:20:50,240 we're getting in into ETH, but also the amount of inflows we've 391 00:20:50,240 --> 00:20:52,000 gotten into. I mean, Bitcoin's gotten like 392 00:20:52,000 --> 00:20:54,400 some like $80 billion of inflows just an I bet. 393 00:20:54,720 --> 00:20:57,520 Like it's crazy the impact of this, but, but still ETH has 394 00:20:57,520 --> 00:20:59,400 done poorly. So I, I think the market's just 395 00:20:59,400 --> 00:21:02,360 kind of confused about how to treat this type of news flow. 396 00:21:03,400 --> 00:21:12,120 Yeah man, hit it right like the ETF once and now they've seen a 397 00:21:12,120 --> 00:21:16,560 billion in the last 17 sessions. It's like now you're really 398 00:21:16,560 --> 00:21:21,440 starting to see it pick up yeah 8th is up significantly. 399 00:21:22,120 --> 00:21:23,320 I. Talked to someone who's like you 400 00:21:23,320 --> 00:21:27,640 should just own soul into the ETF like you know and granted 401 00:21:27,640 --> 00:21:32,840 you can talk to someone who will give you any opinion but I don't 402 00:21:32,880 --> 00:21:35,840 know who knows I'm I'm saying nothing I'll stop. 403 00:21:36,800 --> 00:21:40,080 Well, so like, let's look at so Bitcoin, according to D Gen's 404 00:21:40,080 --> 00:21:44,920 dashboard here, 45 billion in net inflows since inception, 3 405 00:21:45,240 --> 00:21:46,960 1/2 billion. Yeah. 406 00:21:47,400 --> 00:21:49,680 They've been around for what 6 months less I. 407 00:21:49,680 --> 00:21:52,880 I also don't have the the exact dates in front of me, so smaller 408 00:21:53,000 --> 00:21:55,480 if. It's just a more difficult pitch 409 00:21:56,040 --> 00:21:59,120 like, like you have to consider the people buying it, like 410 00:22:01,000 --> 00:22:03,360 buying digital gold. Actually, it's very easy to sell 411 00:22:03,360 --> 00:22:06,160 to pensions. It's very easy to sell to, to 412 00:22:07,480 --> 00:22:12,520 insurance funds even or four O 1 KS or multi Strat funds. 413 00:22:13,960 --> 00:22:16,320 Buying EP is just like it takes a while, I think to really make 414 00:22:16,320 --> 00:22:18,360 that pitch. And particularly if there's no 415 00:22:18,360 --> 00:22:21,000 staking element where there's no yield element, I think it can 416 00:22:21,000 --> 00:22:25,640 take a little bit longer. I I do think that the Solana 417 00:22:25,640 --> 00:22:30,120 pitch will take similarly as long like remember, these guys 418 00:22:30,120 --> 00:22:33,160 are going to turn around after having just sold their clients 419 00:22:33,200 --> 00:22:37,120 ETH and be like, actually, we've got like a faster blockchain for 420 00:22:37,120 --> 00:22:37,640 you. Right. 421 00:22:38,080 --> 00:22:41,400 More yield. And bigger world. 422 00:22:42,480 --> 00:22:44,840 I actually think they might just be like, let's just sell ETH 423 00:22:47,640 --> 00:22:50,000 rather than coming in here and trying to sell something else 424 00:22:50,000 --> 00:22:53,600 straight away. Like I don't know. 425 00:22:53,600 --> 00:22:55,640 I think, I think it will just take a while, but but I do think 426 00:22:55,640 --> 00:22:59,080 it's really bullish and I think, I think that may push Solana up 427 00:22:59,080 --> 00:23:02,160 to like 200. What could be an interesting 428 00:23:02,160 --> 00:23:04,960 angle is if they're like the joint ETH plus Soul stinking 429 00:23:04,960 --> 00:23:08,280 ETF, so they're bucketed together because I think you 430 00:23:08,280 --> 00:23:10,600 make a great point. How come they're, we're just 431 00:23:10,600 --> 00:23:13,960 seeing the pitch for Ethereum now in the infant stages. 432 00:23:16,480 --> 00:23:19,920 The pitch for Soul is a little tougher, especially on the back 433 00:23:19,920 --> 00:23:22,360 of that just from a pure timing standpoint. 434 00:23:23,600 --> 00:23:25,600 So I'm with you. I don't necessarily, I don't 435 00:23:25,600 --> 00:23:28,000 know, price target. I guess 200 feels like a nice 436 00:23:28,000 --> 00:23:31,320 round Number. There's other tailwinds. 437 00:23:31,320 --> 00:23:32,880 I mean, Bitcoin rallies, ETH rallies. 438 00:23:32,880 --> 00:23:34,880 I think Seoul's going to move along with it. 439 00:23:36,120 --> 00:23:38,880 The the question is, is it going to outperform or not? 440 00:23:40,760 --> 00:23:44,840 We'll see if it depends if it's an alt season or if Bitcoin's 441 00:23:44,840 --> 00:23:46,240 going to continue to leave the rally. 442 00:23:46,240 --> 00:23:49,800 There are some signs that the alts may start to move both ETH 443 00:23:49,800 --> 00:23:52,120 and soul up on Bitcoin on the week. 444 00:23:52,440 --> 00:23:54,440 Well, stats I I teed this up at the beginning of the show. 445 00:23:55,560 --> 00:23:58,640 We talked with Mando about the ETH trade for a solid 25 to 30 446 00:23:58,640 --> 00:24:01,600 minutes yesterday. Yeah, here's for your thoughts. 447 00:24:02,360 --> 00:24:05,400 Some of our like the TLDR is that we were kind of conclusion 448 00:24:05,400 --> 00:24:08,080 we got to the narrative is stronger now than it seems like 449 00:24:08,080 --> 00:24:14,000 it has been for quite some time. Yeah, I mean, you also say like 450 00:24:14,000 --> 00:24:15,840 I'm a perennial ethball. I'm actually not. 451 00:24:16,040 --> 00:24:18,720 I, I, I like, I'm, I own more Bitcoin than ETH. 452 00:24:18,840 --> 00:24:21,040 You know, I've kind of, I have moved a little bit of Ethan. 453 00:24:21,440 --> 00:24:23,840 I'd say ETH is probably, if you include my NF TS, it's, it's 454 00:24:23,840 --> 00:24:26,920 still a big position. The reason I'm like, the reason 455 00:24:26,920 --> 00:24:30,400 I'm like, I own a lot of ETH is 2 reasons. 1 is that I kind of 456 00:24:30,400 --> 00:24:32,760 got into the space because NF TS that's just kind of my origin. 457 00:24:33,040 --> 00:24:36,000 And two, I'm exceptionally lazy. So I'm just like, I've been in 458 00:24:36,000 --> 00:24:38,400 this bag for a long time. Like, you know, that's just kind 459 00:24:38,400 --> 00:24:40,720 of my native place. So I'm just holding a bunch of 460 00:24:40,720 --> 00:24:44,760 ETH, but it it's not like I, I like to my, my posts. 461 00:24:44,960 --> 00:24:47,000 I've said this last time I was on the show when I post like 462 00:24:47,000 --> 00:24:49,000 who's your daddy or whatever, Like show him who's daddy with 463 00:24:49,080 --> 00:24:51,000 ETH. I'm literally it's just a meme. 464 00:24:51,040 --> 00:24:53,240 It's just a meme. It gets the hype people so 465 00:24:53,240 --> 00:24:55,000 pissed. Now the hype people get so 466 00:24:55,000 --> 00:24:56,360 pissed. If I say ETH is up, you're all 467 00:24:56,360 --> 00:24:58,880 like, what about me? What about what about my bag? 468 00:24:58,880 --> 00:25:01,320 I feel like I'm, I feel like I'm talking about 4-6 and eight-year 469 00:25:01,320 --> 00:25:03,240 old boys. I say something nice about 470 00:25:03,240 --> 00:25:04,600 something. The other boys start screaming 471 00:25:04,600 --> 00:25:05,720 about why they're not getting attention. 472 00:25:05,720 --> 00:25:07,600 That's what that's what the hype people are like on the timeline 473 00:25:07,600 --> 00:25:10,080 right now. Total snowflake behavior. 474 00:25:10,080 --> 00:25:12,040 But you know, I'm used to it because I've been in this game 475 00:25:12,040 --> 00:25:13,840 for a while posting stats and everyone saying what? 476 00:25:13,840 --> 00:25:16,880 About me all the time. As far as my views go, you know, 477 00:25:16,920 --> 00:25:22,000 I don't know, like I feel like I don't have super strong views. 478 00:25:22,000 --> 00:25:25,000 I feel like the vibes, like I, I think these are still like vibe 479 00:25:25,000 --> 00:25:26,720 based assets. Like it's very hard to say 480 00:25:26,720 --> 00:25:29,440 there's any reason that cash flow support any valuation 481 00:25:29,440 --> 00:25:31,440 whatsoever. And it just kind of becomes a 482 00:25:31,440 --> 00:25:34,240 game of like, where's the FOMO and where's the positive energy 483 00:25:34,240 --> 00:25:37,560 right now? And, and I think like ETH, like 484 00:25:37,560 --> 00:25:39,920 there, there's just this Bitcoin dominance narrative that was 485 00:25:39,920 --> 00:25:41,680 taking over. And when Bitcoin dominance takes 486 00:25:41,680 --> 00:25:44,040 over, you know, ETH is going to be one of the 1st to go because 487 00:25:44,040 --> 00:25:46,360 you have the most market cap there to pull from. 488 00:25:46,480 --> 00:25:48,840 But then on the other hand, like when crypto starts rallying and 489 00:25:48,840 --> 00:25:51,360 it becomes a bit more of like a public trade, you know, it kind 490 00:25:51,360 --> 00:25:53,440 of goes back to the ETF thing. You know, ETH is one of the best 491 00:25:53,440 --> 00:25:56,080 places to get to get exposure. And we've seen that, what is it 492 00:25:56,080 --> 00:25:59,440 20 straight days of ETF inflows like recently? 493 00:25:59,440 --> 00:26:03,360 So like, like ETH is when, when crypto's rallying, when Bitcoin 494 00:26:03,360 --> 00:26:07,240 dominance gets to like all time highs and people say, hey, I 495 00:26:07,240 --> 00:26:11,360 want to get back into a trade. I want to get back into 496 00:26:11,360 --> 00:26:15,880 something here that isn't where the charts not looking like 497 00:26:15,880 --> 00:26:17,880 Bitcoins does. ETH is the 1st place they go. 498 00:26:18,160 --> 00:26:21,160 So, you know, am I like super bullish on that? 499 00:26:21,160 --> 00:26:24,160 I think, I hope it continues to trade with the market because I 500 00:26:24,160 --> 00:26:26,600 think the market's going to continue to be, continue to be 501 00:26:26,600 --> 00:26:29,840 bullish. What's the catalyst to, to make 502 00:26:29,840 --> 00:26:35,080 it, I don't know more, you know, a $500 billion token instead of 503 00:26:35,080 --> 00:26:38,520 a $340 billion token. Like like it's very hard for me 504 00:26:38,520 --> 00:26:41,560 to say like, oh, that's like we're underpriced at 340 billion 505 00:26:41,560 --> 00:26:43,040 for ETH. It's just like, where are the 506 00:26:43,040 --> 00:26:44,600 vibes right now? And I feel like with kind of the 507 00:26:44,600 --> 00:26:49,720 D5 focus that we've gotten with the ETF out there, it's rallying 508 00:26:49,720 --> 00:26:52,000 and just going to, I'm just going to keep holding because 509 00:26:52,000 --> 00:26:54,600 Amanda's price target. What? 510 00:26:55,240 --> 00:26:59,960 We had this debate in the in the DMS last night, but I'm of the 511 00:26:59,960 --> 00:27:02,320 view that ETH is a non consensus trade in. 512 00:27:03,520 --> 00:27:06,280 I think so too. OK, Yeah. 513 00:27:06,280 --> 00:27:08,200 I mean, I think it's. I think not like. 514 00:27:09,480 --> 00:27:14,640 The consensus ones on my timeline that I felt was Bitcoin 515 00:27:14,920 --> 00:27:16,920 is obviously about this consensus kind of everywhere 516 00:27:17,440 --> 00:27:20,480 hyper liquid. I would I would have said 517 00:27:20,480 --> 00:27:22,480 thought coin because I just feel like I see it a lot. 518 00:27:22,480 --> 00:27:25,320 And then I would have said I Seoul, I agree is like a bit 519 00:27:25,320 --> 00:27:27,120 more like I think there's a little bit of thought around 520 00:27:27,120 --> 00:27:28,800 Seoul right now. So maybe that's not a consensus, 521 00:27:28,800 --> 00:27:31,480 but I actually really thought that ETH was a non consensus 522 00:27:31,480 --> 00:27:33,760 trade. Do you see that? 523 00:27:33,920 --> 00:27:35,120 Because you probably have a slightly more. 524 00:27:35,400 --> 00:27:38,960 This is an interesting question because yesterday Faroque said 525 00:27:38,960 --> 00:27:40,640 what is the most consensus trade. 526 00:27:41,040 --> 00:27:43,600 He sent out a survey. On the back of that. 527 00:27:44,200 --> 00:27:47,640 On the back, yeah, So survey so Faroque said, sent this out, 528 00:27:47,640 --> 00:27:50,520 said what's the most, what's the most consensus trade? 529 00:27:50,840 --> 00:27:57,200 I think on our timelines it is 100% Bitcoin because there's you 530 00:27:57,200 --> 00:27:59,040 can't say something negative about Bitcoin. 531 00:27:59,160 --> 00:28:00,680 Like, yeah, not everyone owns it. 532 00:28:00,840 --> 00:28:03,080 But if imagine saying something negative about Bitcoin on the 533 00:28:03,080 --> 00:28:04,960 timeline, like you'd be a pariah. 534 00:28:04,960 --> 00:28:07,120 Yeah, that'd be like saying something positive about Peter 535 00:28:07,120 --> 00:28:09,600 Schiff right now, like like or whatever Dude, is that his name? 536 00:28:09,600 --> 00:28:11,040 Shit, whatever, whatever. The dude who's talking about 537 00:28:11,040 --> 00:28:13,960 pedophilia is like you cannot say something negative about 538 00:28:13,960 --> 00:28:15,400 Bitcoin. That's just like we don't play 539 00:28:15,400 --> 00:28:17,840 that game. The issue though, is that 540 00:28:17,840 --> 00:28:19,840 Bitcoin, we aren't the people who move Bitcoin. 541 00:28:20,160 --> 00:28:24,000 We are not like crypto Twitter has nothing to do with Bitcoin 542 00:28:24,000 --> 00:28:26,560 prices. That is a much bigger market 543 00:28:26,560 --> 00:28:28,320 that is so much bigger than our bubble. 544 00:28:28,520 --> 00:28:32,240 You know, Ethereum in our world, I'd say it's not a consensus 545 00:28:32,240 --> 00:28:33,760 trade at all. Like everyone hates Ethereum. 546 00:28:33,760 --> 00:28:35,040 Like people talking shit non-stop. 547 00:28:36,080 --> 00:28:38,160 Outside of I'd say my world, probably a little bit less 548 00:28:38,160 --> 00:28:40,400 because I came my my followers are more NFT native. 549 00:28:41,280 --> 00:28:43,640 But again, I think with ETH, I also think that's above us. 550 00:28:43,680 --> 00:28:45,360 I don't think crypto Twitter matters for ETH. 551 00:28:45,360 --> 00:28:49,000 If you look at the inflows that like crypto Twitter matters for 552 00:28:49,000 --> 00:28:52,640 Azuki crypto Twitter, we, we can move the price of good vibes 553 00:28:52,640 --> 00:28:55,840 club, we can move the price maybe even a far coin, you know, 554 00:28:56,640 --> 00:28:58,600 So I think that is just an interesting question in the 555 00:28:58,600 --> 00:29:01,400 sense of 1 is whose consensus within our world? 556 00:29:01,560 --> 00:29:03,920 But then two, for what assets does that even matter at all? 557 00:29:04,600 --> 00:29:07,520 I, I don't think hype is a consensus trade necessarily in 558 00:29:07,520 --> 00:29:10,880 the sense that like I surveyed my followers, I think 60% said 559 00:29:10,880 --> 00:29:14,000 they don't own any. That's not no, that's actually 560 00:29:14,280 --> 00:29:15,440 not. That's quite. 561 00:29:15,760 --> 00:29:20,920 Yeah, that's like, let me put it this way, if Bitcoin goes to 150 562 00:29:20,920 --> 00:29:23,840 Ki agree with you. I think that like that's maybe 563 00:29:23,840 --> 00:29:24,960 not the best thing for the timeline. 564 00:29:24,960 --> 00:29:27,400 We've seen it, we've seen a bit goes to 50K to 100K. 565 00:29:27,400 --> 00:29:31,640 Like it's kind of beyond CT. If height was to go to 100, I 566 00:29:31,640 --> 00:29:34,840 think that the timeline would be fucking euphoric, like 567 00:29:34,880 --> 00:29:38,800 absolutely euphoric. If Solana went to 300, I also 568 00:29:38,840 --> 00:29:41,240 think the timeline would be absolutely euphoric. 569 00:29:41,720 --> 00:29:47,280 If ETH went to five Ki actually don't think it would be like my 570 00:29:47,280 --> 00:29:51,560 view is like, it's like, Oh yeah, OK, you got one over us 571 00:29:51,560 --> 00:29:54,640 again. Like like I just think about 572 00:29:54,640 --> 00:29:56,000 what I would see on the timeline. 573 00:29:56,280 --> 00:30:00,880 If Salon goes to 300, there would be like a huge party going 574 00:30:00,880 --> 00:30:03,040 on on the timeline. Like it's the best thing ever. 575 00:30:03,040 --> 00:30:04,320 Like Salon is the best thing ever. 576 00:30:04,400 --> 00:30:05,720 Hype as well. It feels as though like 577 00:30:05,720 --> 00:30:08,800 everyone's in it like, oh. I think there's been a lot of 578 00:30:08,800 --> 00:30:11,280 people, I think in our world, there's been a lot of people 579 00:30:11,280 --> 00:30:13,440 who've capitulated on Eats. I think that that's going to 580 00:30:13,440 --> 00:30:16,160 happen over the past four months that ETH has been the funding 581 00:30:16,160 --> 00:30:18,200 trade. I talked to a fund manager the 582 00:30:18,600 --> 00:30:21,000 other day, like who sold all his Eats for for Seoul. 583 00:30:21,840 --> 00:30:23,880 You know, I think we've seen stuff like that. 584 00:30:24,080 --> 00:30:26,520 So, yeah, in that sense, like there's nothing worse than a 585 00:30:26,520 --> 00:30:30,720 trade you've unwound rallying like that is that is a trader's 586 00:30:30,720 --> 00:30:34,000 version of depression. So, yeah, I can see, I can see 587 00:30:34,000 --> 00:30:36,000 what you're saying. I, I think, I think ETH has been 588 00:30:36,000 --> 00:30:38,920 the funding trader right now. So people are either like me or 589 00:30:38,920 --> 00:30:42,160 I'm like, I've owned ETH for five years, It's up to 2800. 590 00:30:42,160 --> 00:30:44,120 I'm not going to freak out because just like I didn't, you 591 00:30:44,120 --> 00:30:46,560 know, it's just kind of my status quo position. 592 00:30:46,920 --> 00:30:49,760 But I think the incremental player has sold out of it like 593 00:30:49,760 --> 00:30:50,880 that. Like there's no one who's, I 594 00:30:50,880 --> 00:30:53,760 don't think many people up there like, like being like, I wasn't 595 00:30:53,760 --> 00:30:55,760 an ETH guy, but I'm buying it at 1800. 596 00:30:55,840 --> 00:30:57,720 I just don't think that person exists. 597 00:30:57,920 --> 00:31:00,560 Whereas the people who are like, I can make a a lot more money 598 00:31:00,560 --> 00:31:02,920 and other stuff. So I'm selling ETH to buy XYZ. 599 00:31:03,040 --> 00:31:04,160 We got a lot of that in our world. 600 00:31:04,160 --> 00:31:07,520 So I think that that's probably like a bit more of the, of the 601 00:31:07,520 --> 00:31:09,120 sentiment you see. Although the other thing I would 602 00:31:09,120 --> 00:31:11,400 say is like sentiment on the timeline is the loudest voice 603 00:31:11,480 --> 00:31:14,240 you know, and the loudest voice is just one voice you know, but 604 00:31:14,480 --> 00:31:15,720 it it doesn't always mean that much. 605 00:31:18,200 --> 00:31:21,280 You're saying that CT can't can't pump ETH prices? 606 00:31:21,280 --> 00:31:23,520 We're pumping live on the back of this commentary. 607 00:31:24,320 --> 00:31:26,320 Oh yeah. Someone in the comments Matt 608 00:31:26,320 --> 00:31:29,120 Mando talking about 5K already boiling my blood. 609 00:31:30,480 --> 00:31:32,800 Every time Mando says 5K. Really. 610 00:31:32,800 --> 00:31:37,560 Piss someone else. Subtle shift from 4K to 5K has 611 00:31:37,680 --> 00:31:39,320 has made a meaningful difference. 612 00:31:39,680 --> 00:31:43,800 Yeah, we'll say that. And a quick tangent. 613 00:31:43,840 --> 00:31:46,600 I think our far coin bulls need to take that advice to heart as 614 00:31:46,600 --> 00:31:47,720 well. We got to start raising the 615 00:31:47,720 --> 00:31:49,760 targets from 10 to to a higher number. 616 00:31:51,120 --> 00:31:53,200 So let's let's keep that in mind. 617 00:31:54,160 --> 00:31:56,480 The FAR, what'd you say? Where's the FAR coin price 618 00:31:56,480 --> 00:31:58,600 target going it? Has been 10. 619 00:31:58,600 --> 00:32:01,120 I think we need to raise it to either 50 or 100. 620 00:32:01,360 --> 00:32:03,240 I think it's ridiculous that circle is worth more than far 621 00:32:03,240 --> 00:32:06,000 coin I. Agree I'm. 622 00:32:06,040 --> 00:32:11,400 Just kidding, I'm. Just kidding, what's your view 623 00:32:11,400 --> 00:32:14,080 on the consensus versus non consensus trade here? 624 00:32:14,080 --> 00:32:15,960 Because obviously lit a fire under. 625 00:32:16,320 --> 00:32:19,600 I feel as though in the I would agree that in the last two weeks 626 00:32:19,680 --> 00:32:21,920 as as ETH looks like it was about to break out of this 627 00:32:21,920 --> 00:32:24,320 consolidation, there's been a few more traders being like, oh, 628 00:32:24,320 --> 00:32:25,640 it's a trade, but all this sort of stuff. 629 00:32:25,640 --> 00:32:30,400 But I don't, I don't feel like it's a large trade. 630 00:32:30,400 --> 00:32:34,280 What What do you think of your most consensus trades that you 631 00:32:34,280 --> 00:32:37,760 see in your town then? I don't think it's ETH. 632 00:32:37,800 --> 00:32:42,000 I think the people who had 100 or 200 ETH in 2021 have probably 633 00:32:42,000 --> 00:32:45,680 sold that off or maybe they bought it, they turned it into 634 00:32:45,680 --> 00:32:48,880 MTS, maybe they rotated it to Seoul and now they've rotated it 635 00:32:48,880 --> 00:32:53,080 downstream. I think there's I think the the 636 00:32:53,080 --> 00:32:57,320 leading ETH betas are definitely held. 637 00:32:58,760 --> 00:33:00,440 I mean we've seen SPX at all time highs. 638 00:33:00,600 --> 00:33:05,840 Pepe is a consensus trade MOG maybe not as much, but the time. 639 00:33:05,840 --> 00:33:08,400 I will be euphoric if MOG goes back to all time high. 640 00:33:09,320 --> 00:33:15,080 I think for Oak nailed the the primary ones right like these 641 00:33:15,080 --> 00:33:18,960 are the big four. Well, OK, let me let me take 642 00:33:18,960 --> 00:33:21,320 that back. Bitcoin hype for a coin I think 643 00:33:21,320 --> 00:33:23,480 are probably three of the most public CT plays. 644 00:33:24,800 --> 00:33:26,360 I don't know if the theorem really is. 645 00:33:26,360 --> 00:33:28,480 I don't think I don't think people are holding Solana that 646 00:33:28,480 --> 00:33:30,120 much. I'd agree. 647 00:33:30,120 --> 00:33:32,560 I think Solana has lost, lost it a little bit too, which is 648 00:33:32,560 --> 00:33:35,600 probably a good thing for Solana right now is that it doesn't 649 00:33:35,600 --> 00:33:38,760 feel like everyone's bullish on Solana right now. 650 00:33:39,520 --> 00:33:42,040 Feels like they moved to AVAX and Suey and all these other 651 00:33:42,040 --> 00:33:45,240 like because they the gambling money is slightly not not been 652 00:33:45,240 --> 00:33:48,640 making money on it right? Yeah, or or they moved 653 00:33:48,640 --> 00:33:51,800 downstream to to memes. Logan, curious if you have a 654 00:33:51,800 --> 00:33:54,120 take on? This yeah, I don't think Etha's 655 00:33:54,120 --> 00:33:58,480 consensus at all based on my timeline, I would, I would have 656 00:33:58,480 --> 00:34:02,480 said hype one Bitcoin 2. Again, just based on my timeline 657 00:34:02,480 --> 00:34:04,280 and the way that I'm receiving things, I think those are the 658 00:34:04,280 --> 00:34:09,520 clear leaders. Yeah, FAR Coin probably deserves 659 00:34:09,520 --> 00:34:12,199 to be in there if you're trying to come up with a list of like 660 00:34:12,199 --> 00:34:14,960 four or five different coins. But even that, I would say 661 00:34:14,960 --> 00:34:18,159 alongside, you know, Solana and some of the other leaders over 662 00:34:18,159 --> 00:34:22,280 there, it has definitely fallen. And in my opinion, as far as the 663 00:34:22,280 --> 00:34:25,920 consensus nature goes, But you know, if you're looking for 664 00:34:25,920 --> 00:34:28,960 something that's going to rise alongside everything else, I 665 00:34:28,960 --> 00:34:32,679 think most people would have Far Coin on the list I. 666 00:34:32,719 --> 00:34:35,040 Feel far point's going to feel a lot more consensus when you're 667 00:34:35,040 --> 00:34:36,960 talking to Farooq and Tyler every day than it will 668 00:34:36,960 --> 00:34:39,080 otherwise. That's, I mean the data backs up 669 00:34:39,080 --> 00:34:42,600 right 159,000 on hold basically on Jane holders. 670 00:34:44,280 --> 00:34:45,400 Yeah. I just feel as though when I 671 00:34:45,400 --> 00:34:49,040 think about the big traders, that the big, let's say, mean 672 00:34:49,040 --> 00:34:52,560 point traders, they're all kind of in Falcorn, right? 673 00:34:52,760 --> 00:34:58,680 Like I don't know, but I would pick like who who's the biggest, 674 00:34:58,680 --> 00:35:01,000 who The Who win all the mindshare from for memes. 675 00:35:01,360 --> 00:35:05,680 I guess it's not a mirac coin, but like it's a bunk I coin. 676 00:35:06,520 --> 00:35:08,920 It's a is it? Is it an Anson coin? 677 00:35:08,920 --> 00:35:11,440 It's a coop coin. It's a whiz coin. 678 00:35:11,920 --> 00:35:15,920 It's a rope coin. It's a dip weeder coin. 679 00:35:15,920 --> 00:35:22,160 It's a it's a base 16Z coin. It's a like it's a rookie coin. 680 00:35:22,600 --> 00:35:26,480 It's I've been bullish shit. OSF owns it. 681 00:35:26,480 --> 00:35:29,840 Like I couldn't, I don't know, I looked down and I'm like, if 682 00:35:29,840 --> 00:35:33,680 you're in memes, you've kind of been built at least at one time. 683 00:35:33,680 --> 00:35:36,680 You've been bull posting thought coin or like all bullish. 684 00:35:38,200 --> 00:35:44,600 Yeah, I think so, But still hasn't had their chance at it. 685 00:35:44,600 --> 00:35:46,240 They're cut at it. So we'll see what that demand 686 00:35:46,240 --> 00:35:48,360 looks like perhaps as soon as tomorrow. 687 00:35:48,560 --> 00:35:51,880 And then I'm very curious about SPX here. 688 00:35:51,880 --> 00:35:53,800 I mean this thing is not stopping. 689 00:35:55,520 --> 00:35:56,760 SPX She. Hasn't really been. 690 00:35:57,200 --> 00:36:02,920 Was it up 20% in the last day? Probably I was up 70% of the day 691 00:36:02,920 --> 00:36:05,320 it. Was like 134 or 1:40 when we 692 00:36:05,320 --> 00:36:06,880 were talking about it on the show yesterday. 693 00:36:07,520 --> 00:36:10,800 It's performing like the number one ETH beta like that. 694 00:36:10,800 --> 00:36:16,120 That is objectively true right now in joyful June 2025. 695 00:36:16,440 --> 00:36:19,600 So what's the state of Maraud? And the reason I ask that is, 696 00:36:19,920 --> 00:36:23,040 you know, I, I'm not in his world other than the fact that 697 00:36:23,040 --> 00:36:26,000 I'm on crypto Twitter. And I think there was a lot of 698 00:36:26,000 --> 00:36:28,000 hype around him. He was like, he was kind of the 699 00:36:28,000 --> 00:36:32,200 figurehead of meme coins kind of as a like an intellectual asset. 700 00:36:32,440 --> 00:36:35,720 And I think that that became proven, like not proven, but 701 00:36:35,720 --> 00:36:39,120 like at the beginning of 2025, that was just the wrong trade to 702 00:36:39,120 --> 00:36:41,240 be in. And people who, and it became 703 00:36:41,240 --> 00:36:43,800 clear that a lot of the meme coins that people thought were 704 00:36:43,800 --> 00:36:47,120 these stable assets were actually vaporware or just not 705 00:36:47,120 --> 00:36:49,680 worth a lot of money. And then and then now it feels 706 00:36:49,680 --> 00:36:51,880 like like he's having a company. And I think that Murad kind of 707 00:36:51,880 --> 00:36:54,040 had some back on his face, at least from a reputational 708 00:36:54,040 --> 00:36:56,640 standpoint, when I looked at my timeline, which maybe is the 709 00:36:56,640 --> 00:37:00,400 wrong one to be looking at. But so I've I've been surprised, 710 00:37:00,640 --> 00:37:03,000 Tyler, that you're like, this is a huge coin because this is 711 00:37:03,000 --> 00:37:04,560 Murad's coin. I'm like, I thought that guy 712 00:37:04,560 --> 00:37:08,000 like kind of lost a bit of his glory recently, but I don't 713 00:37:08,000 --> 00:37:09,760 know. You know, yesterday I posted 714 00:37:09,760 --> 00:37:11,400 about ENSI thought ENS was totally dead. 715 00:37:11,400 --> 00:37:14,800 And then like 500 people are like, yeah, ENSENS is awesome. 716 00:37:14,840 --> 00:37:17,240 Digits are going to 1000. So there is a community out 717 00:37:17,240 --> 00:37:19,160 there for everything and I'm just not part of most of them. 718 00:37:19,280 --> 00:37:21,720 So you can tell me like what's the what's the state of the 719 00:37:21,720 --> 00:37:26,800 Maraud reputation and community? He went from main character to 720 00:37:26,840 --> 00:37:29,040 the most hated single. Most hated. 721 00:37:31,240 --> 00:37:33,520 Well, maybe. Maybe put Hayden Adams up there 722 00:37:33,560 --> 00:37:35,600 with him. I don't think he was hated, I 723 00:37:35,600 --> 00:37:39,080 think he was more ridiculed. No, the the pitchforks came from 724 00:37:39,080 --> 00:37:41,360 a rod first. Oh yeah. 725 00:37:42,720 --> 00:37:45,360 It's not like. All time, all time highs 726 00:37:45,360 --> 00:37:47,880 February all time highs March like the guy. 727 00:37:47,880 --> 00:37:50,360 Everyone was like this guy's leading people to the slaughter 728 00:37:50,640 --> 00:37:52,720 at a time where everything is going lower. 729 00:37:53,080 --> 00:37:55,720 There was a lot of flood. It wasn't, but it was. 730 00:37:55,880 --> 00:37:57,600 And he did get caught a bit of a scammer too. 731 00:37:57,600 --> 00:38:00,560 It wasn't like just like, oh, you get bad intellectual points. 732 00:38:00,560 --> 00:38:03,160 Like people didn't think he was like selling his own tokens. 733 00:38:04,600 --> 00:38:07,960 But then he never gave up. He he stuck with the mission and 734 00:38:08,000 --> 00:38:11,480 now he's on his comeback arc. And it's unclear if it's 735 00:38:11,480 --> 00:38:15,440 actually the the TikTok video watchers who are buying SPX or 736 00:38:15,440 --> 00:38:18,120 if it's the whales on chain who are kind of using that as the 737 00:38:18,120 --> 00:38:20,440 new narrative. But the reality is SPX is an all 738 00:38:20,440 --> 00:38:24,160 time high now that his downstream coins are starting to 739 00:38:24,160 --> 00:38:27,800 move. So in the past day, Retardio up 740 00:38:27,800 --> 00:38:31,480 50%, locking up 140%, USA up 50%. 741 00:38:32,080 --> 00:38:33,280 So that's. What it means that you're buying 742 00:38:33,440 --> 00:38:34,720 Tyler? Man. 743 00:38:35,720 --> 00:38:39,200 All of them. Of this list, I only hold SPX. 744 00:38:40,600 --> 00:38:43,560 I said on the show. I've been looking at lock in and 745 00:38:44,200 --> 00:38:45,960 it felt safe. It felt like it on the safe 746 00:38:45,960 --> 00:38:48,040 floor. Now it's up about 100%, but. 747 00:38:49,120 --> 00:38:50,520 Yeah, that was an interesting one for sure. 748 00:38:50,520 --> 00:38:53,680 Aura had this like crazy move. You see this up to 85,000,000 on 749 00:38:53,680 --> 00:38:56,400 the Binance listing. This is the the biggest crime 750 00:38:56,400 --> 00:39:00,520 wake of summer 2025. It was. 751 00:39:00,520 --> 00:39:03,400 It was below 1,000,000. Yeah. 752 00:39:04,400 --> 00:39:06,080 And it went to 80 million in a day. 753 00:39:08,040 --> 00:39:10,600 I don't think we've seen. It's basically like the peanut. 754 00:39:11,240 --> 00:39:13,400 I mean, the peanut pump actually probably wasn't even this big on 755 00:39:13,400 --> 00:39:15,640 a multiple. It might have been up there. 756 00:39:16,840 --> 00:39:19,920 This is as big as it gets. Peanut was at least like 200 757 00:39:19,920 --> 00:39:23,880 million and it was on. People's One 5200 yeah, for 758 00:39:23,880 --> 00:39:26,520 sure. What what do we think out of 759 00:39:26,520 --> 00:39:28,920 those MOG? I don't think like if you're 760 00:39:28,920 --> 00:39:31,760 looking for like a single day candle on the on the Murat 761 00:39:31,760 --> 00:39:34,240 coins, like, Oh my God, this is going to quickly go. 762 00:39:36,480 --> 00:39:39,360 I yeah, bring out your bring out your memes. 763 00:39:39,360 --> 00:39:40,880 It's not going to be pop cat or mog. 764 00:39:41,040 --> 00:39:43,400 I don't think either of those are going to I've got like a 50% 765 00:39:43,400 --> 00:39:44,600 move. And then they both feel like 766 00:39:45,640 --> 00:39:49,880 maybe mog gets finance spot, but maybe or or or pop cat gets but 767 00:39:49,880 --> 00:39:51,960 I don't think pop gets first from any lists. 768 00:39:52,640 --> 00:39:57,160 Giga feels like that community kind of fell off right or like 769 00:39:59,880 --> 00:40:02,480 the ones that I would really look at here are are like yeah, 770 00:40:02,480 --> 00:40:07,240 lock in feels like the most obvious one just given price. 771 00:40:09,640 --> 00:40:14,680 Maybe like maybe like apple, you know, like just like one of 772 00:40:14,680 --> 00:40:18,240 these other like ETH memes that can just like just like fucking 773 00:40:18,240 --> 00:40:21,520 go, you know, like and it feels like no one really liked that 774 00:40:21,520 --> 00:40:24,800 one because it was like a Pepe knock off, whereas the. 775 00:40:27,280 --> 00:40:29,160 That's a that's a not a bad chart, right? 776 00:40:31,360 --> 00:40:33,400 I like the the reason why I'm saying is that I think I'm like 777 00:40:33,520 --> 00:40:35,880 slightly more drawn to the ETH ones than I am to the the Sol 778 00:40:35,880 --> 00:40:36,520 ones. I. 779 00:40:37,800 --> 00:40:39,920 Mean ticker Bitcoin. It's curling. 780 00:40:42,080 --> 00:40:44,000 Is it a? What sort of chart pattern would 781 00:40:44,000 --> 00:40:48,120 you call that? I mean you you see the cup and 782 00:40:48,120 --> 00:40:51,200 handle from. Look at that handle, boys. 783 00:40:51,360 --> 00:40:53,520 I'm. Breaking out right now. 784 00:40:55,760 --> 00:40:59,920 I'm wary of these others. I think I didn't interrogate his 785 00:40:59,920 --> 00:41:04,080 timeline too much, but I think there's some explaining to do 786 00:41:04,080 --> 00:41:08,560 about like why he's just, you know, latched to SPXI, 787 00:41:08,560 --> 00:41:12,240 Understand it's the one he's, you know, kind of foundationally 788 00:41:12,240 --> 00:41:17,240 built off of. But these like beta versions of 789 00:41:17,240 --> 00:41:20,840 his list, I think they get, they get the bumps of course, when 790 00:41:20,960 --> 00:41:23,720 he's front and center like he was when he was main character. 791 00:41:24,760 --> 00:41:28,960 But I, I, I'm, I'm definitely wary of holding them versus just 792 00:41:29,160 --> 00:41:30,080 holding SPX. So. 793 00:41:30,680 --> 00:41:33,240 You're saying he's no longer public pushing his list of 10? 794 00:41:33,560 --> 00:41:36,120 No, I I can't say that for certain because I did not do 795 00:41:36,120 --> 00:41:37,160 the. I didn't do any of the 796 00:41:37,160 --> 00:41:39,160 background. I'm not saying it, man. 797 00:41:39,160 --> 00:41:42,160 Unless. I, I actually think that's good 798 00:41:42,160 --> 00:41:43,320 for him. That was what the thing that 799 00:41:43,320 --> 00:41:45,440 people felt like it was going to cause the scam, right? 800 00:41:45,440 --> 00:41:49,200 I actually felt like if he didn't have 10, he just had like 801 00:41:49,200 --> 00:41:52,760 a couple, it would have been better if he now gets everyone 802 00:41:52,760 --> 00:41:56,960 back into like Mini. It does feel like, I don't know, 803 00:41:58,080 --> 00:42:00,320 feels like that that would also turn, turn on him. 804 00:42:00,320 --> 00:42:03,400 Maybe not now I do three months. I do think that's no, I think 805 00:42:03,400 --> 00:42:07,880 that's good as well, but that like him not pushing other 806 00:42:07,880 --> 00:42:10,560 people, not pushing like I don't see any reason to own those 807 00:42:10,560 --> 00:42:14,240 coins then really like I don't want to own APU on its own you. 808 00:42:14,240 --> 00:42:15,400 Know well the reason. I can tell you the reason. 809 00:42:15,800 --> 00:42:20,240 I can tell you the reason Right now it's because it costs $1.72 810 00:42:20,240 --> 00:42:25,280 per SPX token. And if you think SPX is going to 811 00:42:25,280 --> 00:42:29,000 double or triple from here, do you think you're going to get a 812 00:42:29,000 --> 00:42:31,120 higher return on lock in at $0.02? 813 00:42:33,920 --> 00:42:35,200 Sure. That's that's the reason. 814 00:42:35,960 --> 00:42:38,680 I'm not saying it's, it's, it's good or bad, but that's why 815 00:42:38,680 --> 00:42:42,240 people do it. What, what are our SPX targets? 816 00:42:42,280 --> 00:42:44,280 We were talking about this in the in the chat a little bit 817 00:42:44,280 --> 00:42:47,360 yesterday. We haven't seen a 1 billion unit 818 00:42:47,360 --> 00:42:51,240 bias token go above 5. It's like a width at 480 I think 819 00:42:51,240 --> 00:42:55,920 at peak for our coins at 270. The memes that have gone higher 820 00:42:56,240 --> 00:42:58,360 have that lower decimal so you can buy. 821 00:42:58,360 --> 00:43:01,960 More for your buck. Is anyone talking about this 822 00:43:02,160 --> 00:43:03,480 Tyler? You're the only person on the 823 00:43:03,480 --> 00:43:05,320 timeline. Am I who I see talking about 824 00:43:05,320 --> 00:43:06,200 this? Is there like? 825 00:43:06,200 --> 00:43:08,240 A one of our SPX targets. You're not you're not. 826 00:43:08,240 --> 00:43:09,720 You're not you. See that? 827 00:43:09,720 --> 00:43:13,920 Yeah, not an SPX target. I also like this one. 828 00:43:13,960 --> 00:43:18,440 I mean, SPX targets guys. Let's get around the circle on 829 00:43:18,440 --> 00:43:22,000 that one. I'll put that survey out on the 830 00:43:22,000 --> 00:43:25,760 X and see kind of where that it would get like 70 votes. 831 00:43:25,760 --> 00:43:28,920 It would get as many votes, as much attention as my asking 832 00:43:28,920 --> 00:43:30,360 people what they thought of the Tony Awards. 833 00:43:30,480 --> 00:43:32,240 The guy yesterday. Yeah. 834 00:43:32,240 --> 00:43:35,240 I think it's bullish that not many people are in SPX and it's 835 00:43:35,240 --> 00:43:36,920 this high. That's basically what I think 836 00:43:37,120 --> 00:43:38,680 it's. I think that's the most bullish 837 00:43:38,680 --> 00:43:41,440 thing for it. I think that it can go higher if 838 00:43:41,440 --> 00:43:44,400 it starts to flip or come close to like Pepe. 839 00:43:45,360 --> 00:43:47,240 I don't think that's right. A bit of that. 840 00:43:47,280 --> 00:43:49,960 Way what did what did Pepe get to like? 841 00:43:49,960 --> 00:43:52,280 What's the all time high Pepe? Sorry. 842 00:43:53,000 --> 00:43:57,600 Yeah. I mean, I feel like I don't know 843 00:43:57,600 --> 00:44:00,640 this to be true. Pepe, of course, is evidence of 844 00:44:00,640 --> 00:44:03,800 a bit like the ETH coins just feel like, you know, when the 845 00:44:03,800 --> 00:44:08,440 money does start to come in to the just the the ceiling is a 846 00:44:08,440 --> 00:44:12,080 little bit higher. I don't know why I feel that 847 00:44:12,080 --> 00:44:14,200 way. Of course you have Pepe sort of 848 00:44:14,200 --> 00:44:18,040 bears it out, but I think 5-6 for SPX. 849 00:44:18,040 --> 00:44:20,560 Why not? I know I mentioned yesterday, I 850 00:44:20,640 --> 00:44:24,160 don't own any, but I do like these, you know, these kind of 851 00:44:24,160 --> 00:44:27,320 community narrative coins. I think it's the best one 852 00:44:27,320 --> 00:44:30,800 standing at this point in time. You keep, you know, you keep 853 00:44:30,800 --> 00:44:34,320 price going up and then more people believe in it, right? 854 00:44:36,360 --> 00:44:38,240 I could see it. I I could see it becoming. 855 00:44:38,240 --> 00:44:40,040 I could see it flipping Pepe. Why not? 856 00:44:40,840 --> 00:44:43,640 690 is my first target. No one asked me, but I'll I'll 857 00:44:44,000 --> 00:44:49,240 sure $6.90 and then we'll then we'll look from there. 858 00:44:49,240 --> 00:44:51,200 That probably takes. You probably need Pepe to move 859 00:44:51,840 --> 00:44:52,440 40. Percent. 860 00:44:52,440 --> 00:44:55,320 In what world is that 690? You think ether's going to be 861 00:44:55,320 --> 00:44:58,040 like 10 Ki? Feel like for for that to do a 862 00:44:58,040 --> 00:45:03,200 6X from here. It's more like a 4X. 863 00:45:04,720 --> 00:45:05,720 Is it? Sorry? 864 00:45:05,720 --> 00:45:08,840 Maybe I'm confused. SPX is at $1.70 I'm. 865 00:45:08,840 --> 00:45:10,600 Talking about dollar seventy. Yeah, sorry. 866 00:45:10,920 --> 00:45:14,080 Wow. If anyone needed their signal to 867 00:45:14,080 --> 00:45:15,400 sell this token, I think we've done. 868 00:45:17,200 --> 00:45:19,800 Let's I mean, look, look at this if you need a signal, I mean, 869 00:45:19,800 --> 00:45:22,240 it's going straight up. So like, let's like a little bit 870 00:45:22,240 --> 00:45:24,800 of euphoria. It's at all time high, it's 871 00:45:24,800 --> 00:45:26,520 going straight up. So, so take all this with a 872 00:45:26,520 --> 00:45:28,040 grain of salt stats. I know you got to go. 873 00:45:28,040 --> 00:45:29,800 One other question. I actually did want to get into 874 00:45:29,880 --> 00:45:34,720 part of the ETH discussion. How are you viewing your ETH 875 00:45:34,720 --> 00:45:37,600 held in your punks? And I guess Part 2, how do you 876 00:45:37,600 --> 00:45:41,360 think your NFT followers like I'm getting at, do you think 877 00:45:42,280 --> 00:45:44,560 betting on a punk is a good bet on 8th or do you view it 878 00:45:44,680 --> 00:45:48,200 differently than that? You know, back when I was an 879 00:45:48,200 --> 00:45:50,760 interesting Twitter account, I used to do a lot of analysis 880 00:45:50,760 --> 00:45:54,440 where I would like, you know, I would look at kind of different, 881 00:45:54,440 --> 00:45:59,120 like kind of statistical trends in, in NFTS. 882 00:45:59,680 --> 00:46:02,520 And one thing I found with punks and really with everything is 883 00:46:02,520 --> 00:46:04,720 that they're very momentum driven. 884 00:46:05,400 --> 00:46:07,280 And I think it's related to market structure. 885 00:46:07,280 --> 00:46:10,120 But like the single best indicator of if the floor price 886 00:46:10,120 --> 00:46:12,800 is going to go down today as if it went down yesterday, like 887 00:46:12,800 --> 00:46:15,720 it's a very like, which is not true for S&P 500. 888 00:46:15,720 --> 00:46:18,320 It's not true for Bitcoin. Like for those assets, 889 00:46:18,320 --> 00:46:21,280 yesterday's price has no statistical relevance to today's 890 00:46:21,280 --> 00:46:24,400 price movement. Like you can rally off but but 891 00:46:24,800 --> 00:46:28,280 but NFTS like when they're in these funks just go down. 892 00:46:28,280 --> 00:46:30,680 And I think it's related to the, the way that listing and buying 893 00:46:30,680 --> 00:46:33,480 happens. So right now it's just kind of 894 00:46:33,480 --> 00:46:36,840 like a low, it's just like a low energy trade. 895 00:46:36,840 --> 00:46:39,480 I think a lot of people, I mean, it's basically gone down ever 896 00:46:39,480 --> 00:46:43,000 since the announcement of the takeover from node. 897 00:46:43,760 --> 00:46:47,760 I think there were, you know, I, I knew nothing about that until 898 00:46:47,760 --> 00:46:51,120 I bought a punk when I bought my third punk, like because I just 899 00:46:51,120 --> 00:46:52,760 kind of, they were, I kind of wanted one. 900 00:46:53,000 --> 00:46:55,120 Someone pinged me and said, Hey, do you know anything happening? 901 00:46:55,120 --> 00:46:57,160 That's why I was like, oh, there's something coming up, but 902 00:46:57,160 --> 00:46:59,520 I think so I think there was noise about that, that kind of 903 00:46:59,840 --> 00:47:02,200 so this is more of a short term perspective, but I think we're 904 00:47:02,200 --> 00:47:04,240 still kind of unwinding people who want to own it for that 905 00:47:04,240 --> 00:47:07,480 trade. My view on punks is like, I'll, 906 00:47:07,480 --> 00:47:10,320 I'll be honest, everyone, everyone in crypto has their 907 00:47:10,320 --> 00:47:13,400 asset that they feel like kind of a real personal connection 908 00:47:13,400 --> 00:47:15,040 with. Like the thing that got them 909 00:47:15,080 --> 00:47:17,680 into the space that, you know, for some people, it's for a lot 910 00:47:17,680 --> 00:47:19,680 of people it's Bitcoin for for me, it's punks. 911 00:47:19,760 --> 00:47:21,400 Like punks were the reason I got into crypto. 912 00:47:22,040 --> 00:47:23,760 I just kind of like punks. I, I think they're cool. 913 00:47:23,760 --> 00:47:26,760 I like the story, I like the, I like the long term story. 914 00:47:26,960 --> 00:47:28,440 So I own three of them. I have 3 kids. 915 00:47:28,440 --> 00:47:29,960 Like that's just kind of my view. 916 00:47:30,040 --> 00:47:33,760 I, I tell people who are like a bit more, a bit younger, a bit 917 00:47:33,760 --> 00:47:36,360 more into the game, that punks maybe aren't the best asset for 918 00:47:36,360 --> 00:47:37,720 them. I said this when easy bought it. 919 00:47:37,720 --> 00:47:40,480 I'm like, dude, you, you're like looking, you're trying to, if 920 00:47:40,480 --> 00:47:43,240 you're trying to optimize every dollar you have, it ties up 921 00:47:43,240 --> 00:47:47,440 money if you know, and if you're trying to play quick trades like 922 00:47:47,440 --> 00:47:49,760 they're slow grinding, you know, you don't get that many 923 00:47:49,800 --> 00:47:51,360 incremental buyers per month or whatever. 924 00:47:51,960 --> 00:47:55,480 So I think it's a harder asset to hold for people who are A, 925 00:47:55,480 --> 00:47:58,560 trying to optimize every dollar and B, people who are a bit more 926 00:47:58,560 --> 00:48:01,480 fast with their dopamine needs. Like this is kind of a set and 927 00:48:01,480 --> 00:48:03,360 forget trade for me. And that's kind of the type of 928 00:48:03,360 --> 00:48:04,360 person I think it makes sense for. 929 00:48:06,280 --> 00:48:11,320 I think that's a good that's a good explanation. 930 00:48:11,320 --> 00:48:13,480 Good good logic for someone to think about buying this. 931 00:48:13,480 --> 00:48:15,440 It's something you need to go put in a cold wallet. 932 00:48:15,960 --> 00:48:18,480 I want to be more. I like I'm, I'm just not someone 933 00:48:18,480 --> 00:48:20,200 who Shields assets. Even though I like punks, I'm 934 00:48:20,200 --> 00:48:22,000 not someone like, that's just not my personality. 935 00:48:22,000 --> 00:48:25,720 And I'm even less likely to shield something I own because 936 00:48:25,720 --> 00:48:28,720 that's where reputations are destroyed and just my own, you 937 00:48:28,720 --> 00:48:31,640 know, kind of eccentricities. I feel we're doing that. 938 00:48:32,000 --> 00:48:34,360 I do want to say one thing. So someone asked above what's 939 00:48:34,360 --> 00:48:36,920 going on with meme land and, you know, and I think there's 940 00:48:36,920 --> 00:48:38,960 definitely a lot of frustration. So before I go, because I got to 941 00:48:39,000 --> 00:48:42,560 go in 5 minutes, I do just want to give a quick comment on that. 942 00:48:42,560 --> 00:48:43,920 Yes, I do still work in meme land. 943 00:48:43,920 --> 00:48:46,160 I've always just been a huge tweeter regardless, like when I 944 00:48:46,160 --> 00:48:48,000 work at proof, when I work in meme land, I'm always just like 945 00:48:48,240 --> 00:48:51,800 tweeting and and like I just said, I kind of keep the own the 946 00:48:51,800 --> 00:48:53,880 assets I own or that I work for out of it. 947 00:48:53,880 --> 00:48:56,440 Unless there's like, unless there's a distribution need or 948 00:48:56,440 --> 00:48:58,840 like a story that that that has to get out. 949 00:48:58,840 --> 00:49:01,720 But the big things going on with meme one, I mean meme strategy, 950 00:49:01,720 --> 00:49:04,600 figuring meme strategy is the public company we bought 2440 951 00:49:04,800 --> 00:49:09,680 dot HK Ray bought it, but that's taking up a lot of time trying 952 00:49:09,680 --> 00:49:11,400 to figure out how to turn that into something that benefits 953 00:49:11,400 --> 00:49:12,720 meme coin. The second big thing is meme 954 00:49:12,720 --> 00:49:16,280 pay, trying to figure out how to make that model work, because I 955 00:49:16,280 --> 00:49:18,880 think the initial model, just a credit like there are better 956 00:49:18,880 --> 00:49:20,640 ways that we can make that more effective. 957 00:49:20,960 --> 00:49:23,400 And then they're also like tons of like the engineering teams 958 00:49:23,400 --> 00:49:25,280 working on a couple products that hopefully will get out 959 00:49:25,280 --> 00:49:28,800 sooner than later, a couple JVS that we're working on and then 960 00:49:28,800 --> 00:49:30,320 deals like that. Those are kind of the three 961 00:49:30,320 --> 00:49:33,680 things and we never talked about like with JVS projects or deals, 962 00:49:33,680 --> 00:49:35,920 the last thing you want to do is talk about them until the bow is 963 00:49:35,920 --> 00:49:38,720 tied. I think most projects talk like, 964 00:49:38,720 --> 00:49:40,600 want to talk like, say, oh, something big's coming. 965 00:49:40,600 --> 00:49:42,840 And that just leads to trouble. So for us, it's just always 966 00:49:42,840 --> 00:49:44,360 about working on them. And then we think it's something 967 00:49:44,360 --> 00:49:49,120 that that, but it takes time and it's, it's, it takes work, but 968 00:49:49,120 --> 00:49:50,600 there are there are things cooking in the background. 969 00:49:50,600 --> 00:49:54,360 It's certainly not a thing where the team is not like 100% 970 00:49:54,360 --> 00:49:56,480 working on that stuff. So I think it was D Jen Boomer 971 00:49:56,480 --> 00:49:58,720 or something Boomer D Jen who wrote in the comments asked 972 00:49:58,720 --> 00:50:01,000 about meme land. So I figured since I got your 973 00:50:01,000 --> 00:50:02,600 stage, I'll give a quick one minute. 974 00:50:02,600 --> 00:50:04,040 On that, yeah. Thank you for doing that. 975 00:50:04,440 --> 00:50:07,440 I've seen folks kind of asking about mainland a bit over the 976 00:50:07,440 --> 00:50:11,480 last weeks and months so so good to hear some big projects being 977 00:50:11,480 --> 00:50:15,040 worked on. Yeah, there are definitely, 978 00:50:15,280 --> 00:50:17,160 definitely some pitches being thrown in the background. 979 00:50:17,160 --> 00:50:19,480 It's just, you know, it's, it's hard to make the pitches 980 00:50:19,480 --> 00:50:20,920 connect. So you you kind of want to make 981 00:50:20,920 --> 00:50:22,840 sure that you're in that place before you start bringing them 982 00:50:22,840 --> 00:50:24,920 out. Yeah, definitely. 983 00:50:24,920 --> 00:50:28,440 Well, we wish you the best and the mainland team on those 984 00:50:28,440 --> 00:50:30,080 certainly will be following along. 985 00:50:30,120 --> 00:50:32,320 And thank you for joining us. I know you got to run here 986 00:50:32,320 --> 00:50:34,600 shortly. Wife at her college reunion, so 987 00:50:34,600 --> 00:50:35,720 I got to take the kids to school. 988 00:50:36,720 --> 00:50:37,920 All right, kids are still in school. 989 00:50:38,440 --> 00:50:42,320 Sorry, Camp. Science camp and golf and tennis 990 00:50:42,320 --> 00:50:42,800 camp. Those are the. 991 00:50:42,840 --> 00:50:44,720 Two awesome sounds like fun camps. 992 00:50:45,040 --> 00:50:47,080 Yeah, I think science may be less. 993 00:50:47,080 --> 00:50:49,160 I think I'd get bored there. But golf and tennis, I could 994 00:50:49,160 --> 00:50:52,320 spend a few hours on that. Our kids don't start in for 995 00:50:52,320 --> 00:50:54,120 another two weeks, so I'm running camp that here. 996 00:50:54,280 --> 00:50:54,920 Right. Oh, damn. 997 00:50:55,080 --> 00:50:57,960 All right. Well, multitasking Tyler, we've 998 00:50:57,960 --> 00:51:00,840 always seen you as the efficient guy who can get a lot done, so 999 00:51:00,840 --> 00:51:04,240 not surprised. Logan, I saw you. 1000 00:51:04,880 --> 00:51:06,360 Yeah, If you need to run SAS, go ahead. 1001 00:51:06,440 --> 00:51:08,000 We'll wrap up here in a couple minutes. 1002 00:51:09,560 --> 00:51:11,800 Logan, I saw you nodded along during the pump the punks 1003 00:51:11,800 --> 00:51:12,920 discussion. Thoughts. 1004 00:51:14,120 --> 00:51:16,920 Man, well, I just you know, former punk owner, don't have 1005 00:51:16,920 --> 00:51:18,680 any exposure to it at this point in time. 1006 00:51:18,680 --> 00:51:21,520 But of course still love them as an asset, have the personal 1007 00:51:21,520 --> 00:51:24,560 connection, but still like as a long term asset, believe in them 1008 00:51:24,560 --> 00:51:26,720 as well. And all this talk about Ethereum 1009 00:51:27,160 --> 00:51:30,400 in the last few days. I think if you see ETH run, you 1010 00:51:30,400 --> 00:51:35,840 see punks run too, maybe not, you know, outpacing ETH or 1011 00:51:35,840 --> 00:51:41,560 something like that, but it just feels what is what is 44? 1012 00:51:41,560 --> 00:51:47,800 It's like 100 and something 1123 thousand yeah, there's still a 1013 00:51:47,800 --> 00:51:50,160 long, long way off from all time high and all that stuff. 1014 00:51:50,160 --> 00:51:53,240 But I I think you start to see any sort of euphoria around 1015 00:51:53,240 --> 00:51:55,240 Ethereum. You know, the native asset. 1016 00:51:55,760 --> 00:51:59,480 You you get a little bit of a a shine on punks as well. 1017 00:51:59,640 --> 00:52:03,880 Right, 'cause it's, it's kind of as far as owning, you know, 1018 00:52:04,600 --> 00:52:07,800 something on top of or you want an ETH beta, if you want to call 1019 00:52:07,800 --> 00:52:09,800 it that, right. Like there aren't too many 1020 00:52:09,800 --> 00:52:14,320 better options that have the, the shine, the nostalgia, the 1021 00:52:15,240 --> 00:52:18,280 whatever, you know, insert XYZ attribute for crypto punks, a 1022 00:52:18,280 --> 00:52:20,840 major, major point in Ethereum's history. 1023 00:52:20,960 --> 00:52:24,800 So yeah, I, I like punks. I would love to own one right 1024 00:52:24,800 --> 00:52:28,480 now. Not really in the cards but 1025 00:52:28,600 --> 00:52:30,640 maybe need a need a couple meme coin hits. 1026 00:52:30,800 --> 00:52:32,880 Before need you need you back in the trenches and hitting some 1027 00:52:33,080 --> 00:52:35,080 100X's. Yeah, we're going to run out 1028 00:52:35,080 --> 00:52:37,960 that punk budget real quick. I I tend to agree with you and 1029 00:52:37,960 --> 00:52:42,880 rightfully or wrongfully I, I think a punk is an is a fun way 1030 00:52:42,880 --> 00:52:48,720 to hold ETH and bet on ETH. And historically the prices the 1031 00:52:48,720 --> 00:52:50,240 floor has been pretty strong on ETH. 1032 00:52:50,240 --> 00:52:54,640 We'll see if if ETH runs to 4K in the next three weeks. 1033 00:52:55,040 --> 00:52:57,000 Is the Punks 4 going to dip in ETH terms? 1034 00:52:57,920 --> 00:53:00,840 Probably would be. My gut reaction probably goes 1035 00:53:00,840 --> 00:53:03,520 down a bit. But then once ETH consultants, I 1036 00:53:03,520 --> 00:53:05,640 think you can, you have a real chance of leveling up. 1037 00:53:07,080 --> 00:53:10,280 So it's to me, it's a bet on ETH, but it's more than that. 1038 00:53:10,280 --> 00:53:11,800 You've got the collectible narrative. 1039 00:53:11,800 --> 00:53:16,000 It's more scarce than Bitcoin, so you've got more outs for ways 1040 00:53:16,000 --> 00:53:18,840 that it can pump beyond just ETH, which I also like. 1041 00:53:19,480 --> 00:53:21,560 And I actually, you know, the stats is making the point that, 1042 00:53:21,600 --> 00:53:25,280 you know, this is not the, if you're in need of or seeking 1043 00:53:25,280 --> 00:53:27,560 instant liquidity or the dopamine that comes with the 1044 00:53:27,560 --> 00:53:29,080 trading of mean points, etcetera. 1045 00:53:30,160 --> 00:53:32,880 This is not it. But I, I actually like that 1046 00:53:32,880 --> 00:53:36,200 component of it quite a bit. You know, it provides you that 1047 00:53:36,200 --> 00:53:39,800 level of ETH with the potential to go higher and, and yeah, and, 1048 00:53:39,800 --> 00:53:41,680 and not feel, you know, you don't feel too bad about the 1049 00:53:41,680 --> 00:53:42,600 floor here. You're not. 1050 00:53:42,640 --> 00:53:44,640 You're not getting rugged overnight on Crypto Punk. 1051 00:53:45,160 --> 00:53:46,280 Yeah, you don't have to sweat it. 1052 00:53:46,840 --> 00:53:50,120 And I think it's for meme coin traders who make big wins 1053 00:53:50,120 --> 00:53:54,800 rotating to something like Bitcoin, rotating to a punk can 1054 00:53:54,800 --> 00:53:57,800 make a lot of sense in a, in a way of you not just going to 1055 00:53:57,800 --> 00:54:01,680 give it right back and just to puke back all your gains. 1056 00:54:01,960 --> 00:54:04,960 So I've seen folks do that. Logan, we got one or two minutes 1057 00:54:04,960 --> 00:54:06,880 left. There's some kind of big news 1058 00:54:06,880 --> 00:54:09,800 out of virtuals. They they launched their first 1059 00:54:09,800 --> 00:54:13,600 agent on the Ethereum mainnet. You want to give us just a quick 1060 00:54:13,600 --> 00:54:15,360 TLDRI think this was a big story today. 1061 00:54:15,480 --> 00:54:17,760 Yeah, so the tweet you have up on the screen is the best 1062 00:54:17,760 --> 00:54:21,400 summary in my opinion. Just it's a public good smart 1063 00:54:21,400 --> 00:54:24,000 contract audit agents. You know how all the agents do 1064 00:54:24,000 --> 00:54:26,120 different things. This is a smart contract 1065 00:54:26,120 --> 00:54:29,240 auditing agent, but they launched it on Ethereum mainnet 1066 00:54:29,320 --> 00:54:32,560 as opposed to base where all the activity or most all the 1067 00:54:32,560 --> 00:54:36,520 activity have been taking place up to date called Iris. 1068 00:54:36,520 --> 00:54:38,480 You see a little trailer video. It's kind of fun if you want to 1069 00:54:38,480 --> 00:54:42,560 watch that a little bit of I don't know, controversy is the 1070 00:54:42,560 --> 00:54:48,800 right word, but someone else launched a an iris token or 1071 00:54:48,800 --> 00:54:52,440 agent that was eerily similar. I can't remember the exact word 1072 00:54:52,440 --> 00:54:55,960 closely replicates the branding. That's the the word they used. 1073 00:54:55,960 --> 00:54:58,200 So some folks were a little confused, of course, put their 1074 00:54:58,200 --> 00:55:00,480 points from the virgin system into this. 1075 00:55:00,800 --> 00:55:02,800 Some, you know, money of course behind it as well. 1076 00:55:02,800 --> 00:55:05,560 The team came out this morning to try to address that and 1077 00:55:05,560 --> 00:55:08,760 provide the points back. It'd be a refund, of course, 1078 00:55:08,760 --> 00:55:12,360 virtual not being done. So tough. 1079 00:55:12,480 --> 00:55:14,600 It's tough when you make these announcements that people can do 1080 00:55:14,600 --> 00:55:16,200 things like this. It's not the first time we've 1081 00:55:16,200 --> 00:55:19,600 seen it, but good at least for them to be refunding the points. 1082 00:55:20,320 --> 00:55:22,920 Well, there's been, there's been people flocking to virtuals in 1083 00:55:22,920 --> 00:55:24,480 this virgin's program as of late. 1084 00:55:24,480 --> 00:55:27,880 So there's been a lot of new folks probably felt like some 1085 00:55:27,880 --> 00:55:29,840 newbies perhaps taking advantage of here. 1086 00:55:29,840 --> 00:55:32,120 But I think what people who are participating in this doesn't 1087 00:55:32,120 --> 00:55:34,040 need to know there's going to be a whole lot more of these 1088 00:55:34,040 --> 00:55:37,480 copycats going forward because it was an obvious, it obviously 1089 00:55:37,480 --> 00:55:41,600 worked today so much that virtuals had to step in and do a 1090 00:55:41,600 --> 00:55:42,960 refund. And they say here they're not, 1091 00:55:42,960 --> 00:55:44,040 they're not going to do it again. 1092 00:55:45,600 --> 00:55:50,000 So I think the the DYOR beyond order going forward is a strong 1093 00:55:50,000 --> 00:55:51,800 message. Yeah, they definitely don't need 1094 00:55:51,800 --> 00:55:54,200 to do it again either. I don't think that part should 1095 00:55:54,200 --> 00:55:59,080 be controversial. People need to DYORI mean it. 1096 00:55:59,080 --> 00:56:02,040 It's a hard, harsh lesson to learn, of course, but like, 1097 00:56:03,360 --> 00:56:05,000 that's, that's the game you're playing here. 1098 00:56:05,040 --> 00:56:07,800 You, you can't cry, you know, every single time you, you're 1099 00:56:07,800 --> 00:56:08,960 making the decisions. So. 1100 00:56:09,360 --> 00:56:11,960 They're not they're not refunding money, they're 1101 00:56:11,960 --> 00:56:14,160 refunding points. So let's let's also be very 1102 00:56:14,160 --> 00:56:16,200 clear. So people, they earn these 1103 00:56:16,200 --> 00:56:18,920 virgin points. They it's a bidding system about 1104 00:56:18,920 --> 00:56:21,080 basically how much token allocation you could potentially 1105 00:56:21,120 --> 00:56:24,200 get. So it's the points that were 1106 00:56:24,200 --> 00:56:26,200 refunded. It wasn't the actual funds being 1107 00:56:26,200 --> 00:56:28,600 spent, but yeah, we'll, we'll see. 1108 00:56:28,600 --> 00:56:30,200 And we'll see how this IRIS token performs. 1109 00:56:30,200 --> 00:56:32,720 And there's a lot of eyes on this one and certainly more 1110 00:56:32,720 --> 00:56:35,400 folks in this ecosystem. So perhaps we'll be reporting 1111 00:56:35,440 --> 00:56:41,920 back on that tomorrow. But As for today, fun 1112 00:56:41,920 --> 00:56:45,200 discussion, fun chat. Good to have stats on going 1113 00:56:45,200 --> 00:56:47,800 deeper into the the ETH trade folks. 1114 00:56:47,800 --> 00:56:50,160 I think we're going to go ahead and wrap it up there. 1115 00:56:50,160 --> 00:56:52,960 We're at the hour mark. I want to thank our listeners as 1116 00:56:52,960 --> 00:56:54,280 always. I want to thank our partners. 1117 00:56:54,280 --> 00:56:56,480 Want to thank my coach Logan. Thank you for jumping in these 1118 00:56:56,480 --> 00:56:59,920 last couple days, folks. We'll be back tomorrow at 10:00 1119 00:56:59,920 --> 00:57:01,640 AM Eastern. Until then, go make it a 1120 00:57:01,640 --> 00:57:02,600 beautiful day. Goodbye.