Yo-yo, yo, what up? What up?
Good. No.
Good morning. Good morning.
What up, What up? MG Friday, Friday.
Let's go. Friday, June 7th, 2024.
Look at that. Another beautiful day to have a
beautiful day. I got my car was in the house.
Tyler Mando, how you guys doing today?
Good man, doing great. It's raining.
It's fucking raining. Damn is it?
I know that's crazy. That's crazy, the sky is
completely blue here. It was meant to rain all weekend
for the first time in like 5 weekends on the F1, which sucks.
And and yeah, it's one of the best races of the year every
year too, right? And, and it turns out it's
actually sunny right now. So we'll pray to the gods.
We'll knock on wood for a good weekend in Montreal.
So that does not rain. Tyler, how you doing this
morning? Good morning.
Feeling great. It's 75.
It's sunny here in Chicago, just perfect late spring weather.
We're ready for summer and yesterday was wild and and
today's going to be even crazier in the markets.
So I'm ready for it. I'm ready for the fireworks.
Osaka's calling for the bananas zone to start today.
Oh Saka the same guy that was making fun of people holding
confidence spot last month. Look at that how they turn on
the dime. Love to see it love to see it.
But hey, if Saka's tweeting banana zones I'm all for it.
I'm all for it. I'm all for it. 75 sunny in in
New York City ways of weighing and saying you love that Melissa
say nothing beats summer in Chicago.
I I give them a few spots, but Chicago's still great.
Tyler, don't worry about it. Crazy day today.
Love that 14° and pouring down in the UKI mean, of course
you're in the UK, buddy. I was just saying it's 14° and
sunny and, and, and pouring in the UK 365 days a year.
As a matter of fact, you get an extra day this year.
So you get an extra day of pouring rain and, and, and
cloudy in the UK this year. 366. I'm just playing with y'all.
It's sunny in London, like one week here.
You're fine. You're.
Fine, yeah. Man's like, fuck this dude.
Never. What are you talking about?
For it's never sunny. Anyway, it's the other show
today. Today.
All right, Well, I have no idea. I I got out of bed 35 minutes
ago, made my coffee, came here and I was like I have great Co
hosts who know what the fuck they're talking about, so
they'll be able to carry the show and they'll be able to
bring the energy. So their market report as usual,
crypto macro. Oh, we had numbers this morning.
We're waiting on those, so I'm curious to see what happened
there. Mando, we had crypto.
I mean I wake up good price. I don't know I'm seeing people
saying oh, oh, overnight I wake up, get out of bed 71 five,
whatever. So we can talk about that.
Tyler's top five or 678910. We'll see how many tops he's got
for us today. Sure he's got a bunch because
while I was away, I was away from my phone three hours
yesterday. I come back and Hulk Hogan
launches a token and are you rugged it by the time I'm back?
So whatever happened there? But that happened and a few
other things I saw like GME meme going crazy.
There's a roaring Kitty stream in two hours.
It's like 45,000 how many people?
There's 45,576 people in the wait line for that, for that
thing. I mean, the chat phrase is going
crazy. I have it open in front of me.
It's absolutely wild. Shake.
I'll I'll I'll bring it up on the show after.
So seems like it's going to be absolutely insane.
And today, not only do we have the robot lute box spins, it's
Friday. So we'll pick two people from
the audience directly like we did last week because you know,
it's a good way to get, you know, proper fans.
And we also have DJ and watch Club who are going to join us as
today's show partner. Really cool project around
watches. I love my watches, but they're
going to be giving away watch. So they're giving away watch I
think worth like two and a half, $3000.
So enough to see it more giveaways for the show today.
So it looks like it looks like it looks like you guys are going
to be treated today on the show and as usual as usual, as usual.
This show is powered by Moonpay to buy and sell crypto with
PayPal, download the Moonpay app and fair side network.
Fair side network on X wallet coverage for drains, scams and
more. But anyways, anyways, anyways
it's not for you to do Mando. I need to know what the hell is
going on with this market. Who is the man Macro daddy of
the land? Can you dig it?
GM everyone. So we were waiting for NFPS
today, which is that is the jobs figure.
It came in much stronger than expected, but unemployment rate
rate was slightly higher. So I really know what to make of
that. It looks like the the the market
is marginally lower after today. So like we're still like
slipping from all time highs and bond yields have gone higher.
So I think people are probably expecting that this this will
mean that rate cuts get pushed out again.
Bitcoin hasn't really done much, if I'm honest.
You today you've got a stronger dollar, but Bitcoin's just kind
of hanging out near all time highs.
I think a lot of people were expecting to see some volatility
on the back of that number, me included.
And we haven't really like Bitcoin briefly hit 70 K again
yesterday. And then kind of is this rally
back today? It still feels seems to be a
Bitcoin LED rally. Ethan and Solano are like
slightly underperforming and everything else is like failing
to really get much traction I'm seeing apart from like random
meme coins. But yeah, that's that's kind of
where the market's at. We had another relatively large
inflow yesterday. So we've taken inflows into
like, what is that nearly 4 billion now over 16 days?
I think it is now. So that's that's like kind of
wild to see Bitcoin not really breaking through that all time
high. I I don't really know what to
make of that, Like I really don't.
It still just feels like the option in the open interest has
been going up a lot over the last over the last few days.
So even on that dip yesterday, there was like a, like a, you
call it a dip big. Dip, big dip.
Look. I mean, look at that red candle
amongst all the green ones. Yeah, exactly.
You saw like $100 million of liquidations, which is kind of
like. How leveraged are people?
Wait, are you serious? We didn't even, we didn't even
go under 70 Ki. Know, I guess I'm trying to tell
you the open interest on futures is the highest it's ever been.
So let me see the funding chart. Open interest on ETH futures is
the highest it's ever been to so like it.
Doesn't. Mine, but there's just a lot of
there's a lot of bets being taken basically on both sides.
What has happened since Athena's come into the market is that
funding is kind of being the lid is being kept on funding
broadly. It's because of the like the
basis trades being put on. But yeah, kind of wild and
you're seeing huge moves. So part of me still thinks that
we need this like flush before we can before we can rip.
I thought it would happen today. I really did think we would have
like a dip flush everyone and then we would rip from there.
But it's. Not happening.
Well, we're just kind of just hanging out where we've been
hanging out for the last, for the last few days, at least the
last three days and doesn't really feel like we're moving.
We're moving away from it at least today.
So I, I kind of feel like we could be here for like the next
few days like I. Let's go send it.
Send it. I mean, Mandel, you did say, you
said you'd like to see a little dip to 67 like chest that band
again and then go back. I am fully long so I don't I I'm
not saying that. We're nuts on the table.
We've been, we've been, we've been nuts on the table.
Yeah. But I think I just this tells
you a lot, right? Like we can't even breakthrough
this top band with unbelievable inflows each day.
Kind of tells you that it's going to be difficult to get
through that. We're going to need something.
I mean, imagine we had one day of outflows.
What do you think happens to the chart or one day of outflows?
After all, like people would just freak out because like we
can't even breakthrough it with this much inflow.
So this is what I kind of mean. Like we need that one day of
like, oh, fuck. And then and then we might rip.
But I I'm happy to be proven wrong basically.
But this, this is what I feel. As you said, we've we've hit 70
K about 20 times. Yeah, 71 1/2 is like, I mean,
we're just hitting there. I'm on this chart.
My bad. That's the 70 K line I just
reached just to see what 70 K is AT and I've had it like 20
times. Listen to me.
You know what's funny I I put a tweet out yesterday.
It's meant 80 years ago. Yesterday men stormed the
beaches of Normandy and today men are bear posting Bitcoin at
$70,000. I mean Tyler, what do you make
of that? What has happened?
What has happened to men the last, you know, 80 years?
Dude, I'm not dude. You know it.
Yesterday motherfuckers were drafting their back posts.
I could, I could smell it. I could smell it in the air.
People were getting ready. People were drafting their best
bear posts. As soon as we touched like
$69,987.12, they're ready. Sorry, 63 next, then 54.
I mean, we live in the reality where Onsome is calling top and
couple is calling bottom. What is What happened?
I don't know if people are calling top.
Are they? It feels like the bears are just
saying what I'm saying. I.
Don't know, I'm saying. I'm saying.
Just a few weeks ago, people been, we were loving just
calling tops and I feel like some of that's kind of
diminished a little bit, but I just, I can't wrap my head
around the boomers buying all of the Bitcoin.
So, so who's selling every day? Like I, I just, I don't get it.
There was a lot of O GS, I guess that had a lot of Bitcoin unless
they well, Mando, how does it work?
Like do these like ETFs have like trading desks on the side
that like kind of like buy sell Bitcoin to keep the price at a
certain point, etcetera? Or is it just like a buy desk
like they can they just buy? How does it work?
So the ETF itself just buys or it just, it just does what the
flow does. That being said, if you remember
about six months ago, winter Mute jump, James St. all said
they would market make these ETFs.
So originally you used to be able to do some maths on amount
of volume equals amount of inflows.
There was some sort of correlation that has completely
broken down. So the actual volumes going
through in the in the Bitcoin ETF is no longer.
Got. It that good A figure for
correlation of what the actual inflow will be and that's mainly
because of market maker volume. So it's the same as I mean it's
the same as any token in crypto. Like the the volume figures that
you see are wildly inflated by high frequency trading firms,
market makers who are trying to keep them that high.
Like there's the actual real volume behind the volume is is
like much, much lower than the figures that you see.
And that's that's now moved over to ETFs as well.
So difficult to see from the volumes.
It does feel as though this is a decent inflow, right?
Three, nearly 4 billion over the last month is still still a
decent employ. I've been I've been surprised we
haven't smashed through all time highs like we're we've got to
soon, right? This is just a joke.
Yeah, yeah, yeah. I mean, look, I guess it is what
it is and we'll see what happens.
I mean, you know what day it is today.
It is Shabbat, you know, and we're gonna get those candles
going. You know, you know what I like
to say about the Shabbat candles?
You know, we're gonna, it's gonna happen.
It's gonna hit at some point, man, though, it's gonna hit and
then we're gonna be texting each other like, let's fucking go
anyways. So, so on that note, looks like
Bitcoins at 71 two Ethereum above 38.
You have Solana El reverse 170. So even Ethan Seoul, right?
They've kind of been hanging at that area.
Yeah, for some that's going around the the amount of Ethan
exchanges is just a really low levels.
I heard there's. 40 ETH available on Ethereum on OTC
desks. There's a lot of that sort of
chat is going around at the moment that the the the
conspiracies, that speculation is that a lot of these exchanges
do not have high balances of Ethan Bitcoin and they're like
spoofing the prices at these levels.
OK. That is the general like trading
Lord gone to his account. I saw him posting about this
today. Basically there's this is the I
won't say the conspiracy, but the the expectation we're about
to see how liquid Bitcoin order books really are congratulations
or I'm sorry that one thing is clear.
The exchange is about to send out emails.
Basically, he's saying that some exchanges just don't have any
Bitcoin and some of them may be bankrupt because like they're,
they're probably short a lot of these assets than you might
think. But that's the conspiracy going
around, that the reason why we haven't broken out is because
the exchanges kind of can't allow us to break out because a
lot of them don't have the, I mean.
Hey he's he's in line with ME80K mid June he's a lie with your
boy. Hey, he's a lie with your boy.
He's a lie with your boy. You know who else?
Who else sing 80K in in June? Right here.
I'm a fan of trading Lord. I feel like you and him would
get on. I right.
I you know what? I've never met him.
Yeah, never met him. He's like influencer slash
training. Oh, I, I know.
I, I've watched a couple of his videos.
Like I know who I'm very well aware of, like who he is, was he
not? On the boat with you?
Was he not on that boat? He was on the boat, like I saw
him from afar. But like guys with this girl
having a good time, I'm like, I'm not the type to like go and
break up a good time with your girl.
Like when I'm having a time, Oh my God, I don't want someone to
come in my face. I mean so so I you know, so so
yeah, like I was there. I mean there was like rookie
trader main. It was that onsen like all those
guys were there ice bags everything.
It was rookie's both party before the boxing game in Dubai.
Just quick pop by real quick to see what's up and the other side
of CT that I don't get to to see a lot right.
You got the the this and that. But anyways, if you're like part
of the people that keeps getting like liquidated in this market,
maybe like considers not leveraged trading, like maybe
just maybe don't do it. OK, maybe he don't do that.
Anyways, Tyler Tyler, I'm going to go to you because I need a
recap of what happened last 24 hours.
You said there's a bunch of stuff happening on the timeline.
You said it's crazy. I mean Hulk Hogan himself, you
know the pattern I saw the tweet with the pattern of his mustache
going up and then down. I that was great.
Hey, what the NFT and crypto analysis Tyler think on FOMO our
calls the kid can't. Read The Passion Bears all
right, we're going top seven today.
So first the big news GME GameStop goes on an absolute
roller coaster as roaring Kitty briefly approaches billionaire
status. Then the stock tanks overnight
as XX issue 75,000,000 more shares, but then retail fights
back this morning and the stock assaulted.
So just total roller coaster madness.
We'll dive into it. Next up for England Templeton.
They're considering launching their crypto fund beyond Bitcoin
and E. So they're looking at some of
the alts, maybe, maybe some memes.
We'll see. See Kraken, our good friends
over at Kraken reportedly and pre IPO talks seeking to raise
100 million bucks looking at IPO as soon as next year.
So shout out to Kraken. Perhaps the most interesting up.
Those fees there, Kraken, we need a bigger marketing budget
anyways. Go ahead.
Arguably the the most entertaining depending on what
side of the the aisle you were on Hulk Hogan was act a token
was launched and then rugged in the latest of the slug meta
craze. So we'll we'll get into those
details and quickly in NFTS and social fi liquidium launched
runes lending in beta. I actually think this is a
pretty big deal. It's gonna be the first time you
can ever hedge or lever up on your runes.
The sandbox raised 20 million bucks at a $1 billion valuation
to build a mobile metaverse. Then fancy top fancy top is
back. They they lost their next round
of tourneys. 4 different ones, multiple different constraints
and styles. Unlimited entries.
Fours are up big. We're talking 30 to 50%
overnight. So fancy top is back.
Let's go love to see that I I have been so dude, let let's
let's start from the top, but the bottom fantasy top.
So dude, I retweeted a post from Wardaddy yesterday saying where
is it? So let me get this straight
fantasy top still has 2.6 million gold to give away plus
whatever they get in the latest distribution.
Let's talk, call it 3,000,000 gold, right?
So that's like what? A10 box, that's 30 mil, even if
$5, right? Let's say you know, and I know
95 nights, that's at 7, you're at 10.
Let's say 5 bucks, right though it's freely going to be $0.30.
It has a lot of money. You know, they have 19 days to
give it away. That's 137,000 gold per day.
I mean, right, do that. What's going to happen?
It's even less than that. Well, the, the, the high level
headline is we are in a 16 day or 18 day Sprint to the finish
line for, for blast, all the gold has to be distributed by
June 25th. That's in 18 days.
So like the the time to dial in and and lock in on blast.
It is right now like you, you've got 2 1/2 weeks left regarding
fancy top their tournaments. These aren't launching till next
Monday. So it, it's actually an even
tighter window. It's a 15 day window for them to
distribute somewhere between 2,000,000 and three million
blast goal. So like this is this is the area
to to play. I, I, I think and that's that's
how I'll be spending most of my time.
And I think general sentiment has certainly rebounded.
Folks are excited again. I mean, we didn't like this was
a boring week because we couldn't play.
There was no tournaments. I know we want to play our cards
and now you've got so there's so much game theory in this because
you got four different tournaments, you've got one
that's common, only 20 star cap at the bottom.
I think that's the one where everyone has a real shot to
compete and you've got, you know, do you want to run out
like a stars and scrubs model? Do you want to run out a more
balanced team? I love that tourney.
I'll definitely be playing. Then you've got the elite up top
unlimited. You could play all your
legendaries and then gold and silver have you know the
different where you can play two epics and four of the sprayers
so I can. Play all the tournaments at the
same time. You could.
Not only can you play all the tournaments, you can fire as
many entries as you want in each.
So if you've got 300 cards, you could build 16 lineups.
Yeah, you could say like 10 teams like in one tournament.
Interesting all right, let's let's do let's do a little check
on our prices let's start with mando.
Let's see how much is Amando card that Mando you're up
Mando's up Mando's up Look at that honestly, you're.
Playing this. There's only 22 mando's dude.
Mando Mando. Are you planning on tweeting a
lot in the last time? Your epic is cheap.
I could I could use AI. Need one more epic so .6 with
your epic. I don't like it.
I like it. I like it.
What's what's Tyler at So mando 22 cards listed Forrest point
O28 on the on the regular card. Let's see what Tyler's at Let's
see what Tyler's at Tyler's expensive though.
The motherfucker's like, you know, this guy's like crazy
expensive card dude, you're 33rd Tyler's at.
I can tell you whatever my price is, it's too it's too cheap.
As soon as I get my soul bound legendary, I'm just going to be
smashing. Don't have those.
No, but we we got our epics in rare, so we got everything else.
You have zero cards listed so you can't even buy fucking
Tyler. That can't be right.
I mean, I have to say the site is still a little bit janky.
Yeah, it's a little bit. Boys, we love the boys, we
support the boys. We love them.
We love them, we love them. So anyways, it's a little janky.
Listen, we're going to skip that because it's taking a little bit
of time. We'll check everybody's floors
later. So that's that.
And that happened. And so run me back, run me
towards what happened with Hulk Hogan yesterday.
Like you guys, you guys were in the trenches.
I was out there doing some stuff.
What the hell went on? Yeah, mom and dad were out the
the kids got a little crazy, perhaps made some mistakes
yesterday so that this Hulk token launches, it starts
getting some traction on the timeline, gets to one or two
million pretty fast. He's tweeting a video launches
from his ex account. He doesn't name drop the Hulk
token in the video, which I'll come back to.
Meanwhile, the timeline is electric.
Everyone loves Hulk Hogan, everyone's starting to talk like
yeah brother, and they're launching more and more memes.
The memes are great. Token hits 10 million bucks.
Then he starts talking about doing a spaces with Frank D
Gods. The token runs to 20 million and
then it instantly rugs. The insiders sell off a ton.
The token dumps all the way back to $2,000,000.
All the tweets are deleted. He goes on Instagram and
announces that, yeah, don't trust anything from my socials.
We've been hacked and it's it's pretty much over.
The folks are still trying to fight for.
I saw a rebound to like 4.4 million.
I. Don't know if a CTO is is in the
works or not. It what's unfortunately many
unfortunate things happening here, but like damn, like this
meme would be so good. Like my entire generation, like
we we loved Hulk Hogan and Hulkamania.
So like there's a huge built in fan base here.
There's a lot you could do with the meme, but it looks like
Sahil got. Us Sahil dude, it's Sahil like
the it's a heel like the the the Super villain this cycle or
something like is that what's going on?
Yes. It heals the Super villain.
Mando, did you trade the Hulk token or what?
Dude, I'm, I was, I came back like you.
I went down to the beach yesterday, got a beer at the
beach. And then by the time he came
back, Hulk Hogan had rugged. Well, you know it.
Was so fast. I mean, look at the jerk.
Story Do we believe the story of the whole?
Because I did see the Instagram story thingy.
Do we believe that? That he was hacked?
You think that he did it and regretted it.
I, I don't believe it one bit. I actually, I'll tell you guys
something. Once celebrities say that
they're not aware of these things and that managers got
damn or things, they're 99% time lying.
I think what you guys think that he was actually hacked and
didn't know that his Brad was going to use to launch a coin.
The red flag to me, which I noticed at the time and I didn't
put enough weight on it, is the video that they posted on his
Twitter. He he didn't talk about, he
didn't name drop the whole. Token.
Interesting. So like, it, it was just him, it
was just a clip, like he could have been talking about
anything. So like, had he actually
mentioned the token in that video, I'd I'd perhaps be a
little bit more aligned to a conspiracy theory here.
But dude, I think there's more likely you said.
He did this for sure. Like completely off the rails,
right? This is the guy that got done
for like, wasn't it like banging his best friend's wife or
something like that? I remember and then.
He's on camera. Fiction.
And like he's a he's a properly off the rails Hulk Hogan man
like this. He did this for sure.
I, I don't know, man, I don't know that the timeline seems to
be really pissed off at Hulk. Because we all wanted this one
to to do so. Well, I mean it, it saw what $90
million volume, I think most of that in the first couple hours
his comments. Crazy no?
I just said to you, this guy's I think is his, has not been in a
good situation. No, I know I've heard many
things on his life. I.
Think he's gonna bring that up because I think it was a, it was
a, it was a court case. No, he like went bankrupt
because of it. Or very very.
Close. He lost it.
It was like $100 million, didn't he?
It was in like, what is it? I mean, you're the, we have a
resident American in this in the show right now.
I I must have missed all this. So yeah, I'm not a it was.
Like $100 million lawsuit there. There it is.
No, he was awarded 140 mil. Oh, what?
I thought he lost it. No, no, no.
No, it's true. It was awarded so the trial
highlighted tension between the right, the privacy to freedom
and because you know that I did leaked his sex tape that then
led to his wife divorcing him and shit.
Oh yeah, OK, so. He saw suit.
Gawker, and I'm pretty sure Gawker went bankrupt on the back
of him winning 140 million. So then.
He. Probably got in there.
If you're in media before you run your mouth and share videos
of people without their consent, you know, doesn't He doesn't
need to. Oh, actually, then maybe Tyler's
right. Maybe he doesn't doesn't need to
rug this token for a million. I just feel like we.
Won. We won 140 mil.
Look at that. Yeah, but then they went
bankrupt, so he wouldn't have gotten any of the money.
Then his wife would have left him.
And then I'm pretty sure he came out with like a pretty horrific,
like he's, he's. He was 25.
Doesn't need to rug a token. I mean, rich the kid, I get it,
you know, but. 25 feels so low. I Yeah, something must have
happened. You know why it's so low?
Because you crypto. Motherfucker like.
I'm not saying that like, this is one of the most iconic
wrestling stars of all time who, like, has to still be earning
tons in royalties. I love that dude. 25 feels less
all time high dude. Wait, Peter.
Thiel. Really, Thiel?
Peter Thiel backed this case against Gawker, apparently is
the base dude, we got to get Hulk on the show.
Feels like we got to get Hulk Hogan on the show, right?
Anyways, besides that, Tyler, run me through the Jeremy saga.
There's a, there's a big, there's a big stream happening
in an hour and a half. So what happened?
Like take me back from yesterday, I guess morning or
afternoon, right? We just go back.
Why the fuck was Peter Thiel involved in this shit?
Let's let's investigate. Hold on.
How Peter Thiel and Hulk Hogan broke Gawker.
Like what? Why was Peter Thiel involved in?
This he was He had a big vendetta against the Gawker.
Oh, really? The most?
Exciting. It was a personal vendetta.
I think he called out Peter Thiel for being gay if I
remember correctly. What is this shit I'm gonna
read? More about this now look.
At this the most expensive comment in Internet history, so.
Here we go. Let's see, let's let's look
through the most expensive comment in Internet history.
The lawsuit concerned. Yeah, the we know that, right?
They were having consensual sex, by the way, with his friend, his
best friend's wife. OK, John Kerry, while that's
same friend, recorded the encounter secretly according to
Logan, blah blah blah. A more shocking story was
playing out in Peter Thiel, in which Peter Thiel, the billiard
investors, seemed to be exorcising a deep grudge against
Gawker by bankrolling Hogan's lawsuit to destroy the media
company that published the sex tape.
Wow. So it's like my enemy's enemies,
my friend type situation. Right, right.
OK. So they called out Peter Thiel
for some shit on Gawker. And.
Figured that the way to get back at them was by bankrolling.
They outdid him for being gay. OK, I don't I don't know.
That's why I'm reading on the comments.
I. Didn't know Peter what's?
Wrong with being gay. That lines with.
My memory and the books Revelation I spoke the OK OK
anyway. It's bad of him.
And then he he did. OK, Well, fair enough.
Gawk is no more. So don't fuck around with Peter
Thiel, yeah? Peter Thiel 1.
Don't. Oh, there it is that Theo said
that Gawker published articles that were very painful and
paralyzing for people who are targeted.
He said. I thought it was worth fighting
back, Miss Sophie. And I can defend myself with
people they attack or not in the same category.
So mate, don't. OK, don't.
Don't help. Do you feel used to look?
This guy must be on testosterone therapy man.
Have you seen Yo? I'm not trying to have Peter
Thiel come after rugby and decrypt.
Be careful. What?
You say like a fucking interview with him?
And he looked jacked as fuck. Well that's the host opinions
fucking thing Sims. Look at this.
This guy's going to send epic duct to zero bro.
Be careful what you wish for. Look at his eyes.
Stone cold bro. Yeah, we we wish Peter the best
dude. Peter Thiel hit us up building
some really cool shit, dude. We're building some real
actually. I think you would really like it
given given you know your previous investments or recent
ones. Anyways, we thought on the Peter
Thiel topic because that was stressed.
Let's move to a lighter topic, you know, perhaps see how light
it is, but the the GameStop saga is 100% entering its next
chapter. So yesterday, GameStop stock
jumped 47% to 46 bucks, whopping $14 billion market cap.
This came on the back of Roaring Kitty scheduling a live YouTube
stream. It's gonna kick off at 12:00 PM
Eastern. There's already 40,000 people in
the waiting room for this live stream.
Then Roaring Kitty look at the. Chat.
It it's electric, they're dropping token tickers.
He posted his updated open position last night after market
closed. He was up 220% to 586 million,
including 230 million bucks in GME stock, 324 million in the
call options. It expire on June 21st.
So we're two weeks out from that.
Then after hours, the stock jumped another 37%.
It hit 63. That's an important number
because around 70 he becomes a billionaire.
So now we're on roaring Kitty billionaire watch, but dumb.
Just like an hour later, execs announced 75,000,000 new shares.
So they're dumping 75 million shares on the market.
We saw GameStop stock go down to the mid 30s.
It's back up to 44 before the show.
So retail's fighting back against the the execs set up to
be a crazy day. I think for our for our crypto
market participants. I mean, GameStop stock surged
that the, the tokens went up even more.
So we saw the GME token on Solana jump 100% to 169 million,
hit 220 at peak 9 figure trading volume.
We saw the Kitty token named after Rory.
Kitty of course is up to 100% to 21 million super stock named
after the platform that he posts on that was up 90% to 2.6
million. Jimmy Beta, AMC, it was up 70%.
So even the lowest performer of the tokens was still up more
than the stock. Did we fill that Wick?
They did they. Filled the Wick they.
Filled the fucking Wick. Yeah, everyone mocks the The
Wick buyer until it gets filled within two days.
They filled the thing, They filled the fucker.
Look at that. It's.
Wild. Oh my God, dude, Mando, you have
more experience than us on like the market side of things.
I mean, what happens now? Is this guy going to become a
billionaire of this? Like what's what are the odds
that he exercises those calls, becomes a billionaire?
What's what happens now? Like what's going on like in
like Triad fighting? So you can cash that all options
as far as I'm I'm aware. So like they he they are short
term expiry. So I think they're going to
expire in like the next week or so, maybe June. 21st.
Right. Oh, so two weeks, yes.
So he's got a little bit of time.
I think they've got to be above $25 for him to be in the money,
something like that. So he's there at 36 right now,
to be honest, like GME, just no. Like the GME executives are just
what are they doing, man? Like.
Why do you think he did that? There's a lot of conspiracies
around this right now, right? Because everyone's a little bit
confused about how he got so much money suddenly and there's
like, could there be alternative interested?
Like who is benefiting from this?
The number one person who has been benefited from this is GME
itself, the company, right? They have done two share sales
in the last week. So there's a lot of conspiracy
theories that he's maybe working alongside the company.
There's other ones that, you know, he's maybe working
alongside some sort of some backers alternatively.
But the thing today made me feel as though the company are either
in they're either really abusing their, their position or they
are, they could even be working with him, who knows?
Like, there's a lot of conspiracies around this right
now because the only people that are really losing here are the
hedge funds. Are they really or are they like
kind of part of? This maybe not even the hedge
fund it's like the short base is nowhere near as big as it ever
was. So this this isn't like Jamie of
last last cycle. So some people are arguing that
the people that are going to lose here are like retail.
So maybe retail is going to be the loser of his dumps.
But the only person that's like unequivocally the winner is
GameStop itself because they are literally just printing money
so. Those executives are getting fat
bonuses bro. I was talking about that with
the buddy last night. Talent pool increased for the
GME applicants right now. Like who wants to go work at
GameStop and get the stock packages?
Everybody wants to buy their GameStop yet?
Yeah. So I think that's going to be
after this is done, this isn't going to be done.
Do you know what I mean? Like there's going to be a big
investigation into who is, how this has all happened like
there. Isn't anything wrong?
Well, we don't know. What did he do?
What did the guy do? He's tweeted some fucking
videos. Right.
So imagine this scenario, imagine a scenario where his
account got bought or his huge that's.
I mean, I'm just saying that somehow he's working alongside
the GME team. I guess we'll see.
He's going Live Today. One thing's for sure is since we
started the show, he picked up 20,000 streamers.
Actually, Tyler, he's at 64,000. I mean it's going to be a
200,000 live. Comments.
I'm not even scrolling. I'm not scrolling.
Look at the live comments on the side of the screen.
This is insane. I'm not even scrolling.
This is going live. I don't know.
So So what happens man? The last question and you know
we got the DJ watch club. I'm also in the Stew.
I'm going to bring you guys up. So what happens like how does he
like there's a question here from ways of Wang on YouTube.
How will he sell his shares at that price?
Like how does that work? I actually also don't really
understand how it works. So.
Like how does he make money that bindle?
So the way the options expire, you can actually have physical
settlement or you can have cash settlement.
And cash settlement is literally there is no actual purchase of
the shares. You just you just calculate what
the PNR would have been and that is what is transferred between
the two people. I believe that in this stock
option there is there will be cash settlement so he won't even
have to buy the the stock at the lower price.
Interesting. Why does he even need to sell?
What if he dislikes the stock? I mean just.
He likes. To speak keeps going up.
The, the option will expire and it'll make the money equivalent
of where it would be at that level.
So that's the point about there's cash settlement of
options. So you don't actually
necessarily, I mean you, you can do you, you basically have an
option to do either. Normally with most options, some
of them are only physical in some commodities markets.
But for, for stocks, I'm almost certain this should be just cash
settled at the end. Like there's no need to actually
touch the stock in any way. They'll just be a cash estimate
of what the, you know, million. Dollars.
This guy's worth $600 million. Yeah, yeah.
Is that live though right now? No, I mean that was yesterday,
but no that. Was at like 46 so I haven't seen
the stock in the last 30. Minutes we down a lot from that
I think. I mean, not yeah, down well from
that, but he says 36 dollars, right?
It's down 20 points. So he's worth $600 million -, 20
points. So whatever.
Like he's still worth like what, 400 mil?
500 mil? So this guy either way walks
away with like 9 figures no matter where it goes, right?
It sounds like that. Dude, this is sick.
Let's go, let's go KBM and shambles.
Love you KBM. The other take away so the
stream is gonna be electric. I mean you're gonna have to
watch these tokens if you if you are in this this Solana meme
coin trenches. I mean the all the ones I named
right those are gonna be live. You're on this stream.
I'm sure there's gonna be new any like interesting words that
he or or themes that he drops are going to turn into tickers.
So like there's going to be just massive market action coming out
of the stream. I think that much is certain.
And then I mean, unless there's some bombshell that drops in the
stream, we know we've got at least two weeks of this left,
right? So like the options expire on
June 21st. So it's hard to, I don't know,
I'm not calling top on the GME token.
Nah, bro, you don't call top on things like that.
I love that you got embraced. This is like the best left curve
story in history of left curve stories.
Bro, this is incredible. Have you guys even watched the
money? The movie You've done money.
Yeah, yeah, he's good. Have you watched the Tyler?
I haven't, it's my on my weekend.
You should watch it. You watch it, it's actually
really good move. Like the movie's actually done
really good. Like it's really, really funny.
It's great. Seth Rogen was actually great in
it, but he gets wrecked. He's on the wrong side of that
story this time. But but it was it was really
good. Anyways, So look, I think that's
a good round up on this. Tyler, I missed a topic that was
big and exciting. Fantasy top Jimmy.
Hulk Hogan. Runes lending, but it's it's
still in beta, but I do think that's going to be a big deal
once it rolls out. How are runes?
Let me see our puppets. Are they hit .2 for a second?
Down to .17 again? Yeah, yeah, the runes are down
too much. But you're doing OK.
Yeah, they're doing great. They're hanging around.
Also, did you guys, did you guys see we're celebrities?
No. We're celebrities, guys.
We. And the Bravo?
Circuits. Yeah, this this like housewife.
I still don't have no idea who this woman is.
Tyler's like all. Armstrong.
Yeah. She's my new favorite Real
Housewife. Like that much is.
She's coded our our show on to promote her shit coin.
Nice. Yeah, it's I wouldn't call it a
shit coin. It is one of the best meme coins
out there. OK, Sam's, pull it up again.
OK, OK, OK. You know, you know.
In case of an investigation by any federal entity or.
Scholar. I do not have any involvement
with this group or with the people in it.
I do not know how I'm here, probably added by a third party.
I do not support any members by any.
Actions of this group. So we're celebrities.
The point that my friend George, you know my normie friend Mando
that told us a big fan of yours, a big fan of yours, he's like
texting me this chase like Oh my God look at this oh I'm all in
this thing oh look I'm like 5 eggs this and that and here we
are so obviously had to play with it and post this stuff but.
Real quick, I will say I went on her spaces.
I I didn't get a chance to talk, but she ran like a 2 hour spaces
and she's got a team where so I've got a few takeaways from
the space one. So like she's turning like she's
bringing A cause to this. And so the whole reason this
happened was the abuse situation.
So she is trying to like champion that cause through the
meme she is well spoken and she she set up a team around her.
So a team is helping her with all this and sounds like she's
got some plans. So I mean, disclosure, I do hold
some of this, but I think it was a net positive spaces and I'm
there. I am one who I do not like my
meme coin devs to run spaces. The risks greatly out out
outweigh the the benefits. But I think she, I think she did
OK. Yeah, and look, we'll see.
I mean, I was with Trey Guy yesterday.
I'm going to. Be with him.
I love when the bar is she is well spoken.
It's like that's that's the fun. I'm fucking all in.
I mean, we're in, we're in CT land, man.
No, that's that's better than like 90% of the.
Market Yeah, words I am all in let.
Me tell you guys something though, that Trey guy Gazzalia
podcast is going to be a banger. Banger.
Like apparently, like I was talking to him yesterday night
about where I've been dinner together, she was locked in,
like locked the fuck in. So, so that yeah, she apparently
she knows the fuck she's talking about.
Actually, it's still 170 mil. So so looking good anyways.