Oh, yeah. Monday.
It's Monday. Monday, October.
Oh, yeah. I don't care if there's some red
candles. Let me tell you something.
It's October 21st, 2020. Oh, oh, oh, look at that.
Another beautiful day to have a beautiful day.
I got my car host in the house. Tyler.
Tyler.
Missed you last week.
How you doing today? Good morning.
I'm doing fantastic. It was quite the weekend, tons
of action in the market. And I mean, last night it looked
like we were just so, so back. Maybe a little bit of retrace,
but October, October is here. And Bulls, the bulls are ready
for it. Oh yeah, definitely.
The bulls are red. Definitely in town.
Listen, you got to give the bears a little snack, you know
what I mean? Like I look at the price and I
know we'll talk about it. And Mendel's a little late, but
he's coming, you know, 67.4 K to start my day.
I mean, you know, what did we start the month at 58?
Was that 58.9 K dip that that was a dippity dip when everybody
called quits on on day one, remember?
So yeah, it's that. Yeah, we hit 58.44 point 8K on
October 10th. So, you know, you taught me that
we're definitely, we're definitely there.
I think it's your end today. It was my end.
I think my Wi-Fi may be fixed Wi-Fi.
Problems. I don't know what's going on,
but yeah. It's one of us.
They can only be one of us. It could be you.
OK, Well, this this week is Tyler.
Before a couple weeks ago, it was me.
My Wi-Fi kept breaking. I guess one week not using my
Internet here kind of fixed it. You can refresh if you want.
I can talk to myself for a minute.
Oh, I lost, lost Tyler and I don't and I don't.
Well, today's show today, today market report as usual, whatever
Mando comes, we'll talk about the market.
I know he's having a meeting with Ovi and Cali right now.
Get his ass on here. Everybody, anyone.
I want everybody at the bottom right to tag Mando at wreck
Mando. I want everybody to tag and ping
Mando talent to get his ass on the show right here right now.
Make sure you do that for me then.
Then after this, Tyler's top 1000, definitely top 1000 right
now because I mean this weekend was heavy in the week.
We got a lot of news all across space Yeti, yet we had eight
fest. I'm sure you're going to talk
about it. Happy to dive deep into that,
Tyler later as well when we get to it.
Lots of news across the board and then no real bit today.
That's for tomorrow. However, I did miss a big win.
Oh my God, definitely want to talk about that in a second.
But we're back with the spins from tomorrow.
Every day. Monday, I say Tuesday,
Wednesday, Thursday, Friday, we'll get into that.
And then last but not least, this show is still shout out to
them. Powered by Galaxies with
seamless built in monetization tools, Galaxies enables
development of sustainable long term communities fulfilling
bitcoins vision of decentralized freedom and independence from
centralized control. You absolutely love to see, to
hear, to feel that. Without further ado.
Well, Tyler, I guess we'll go to top 1000 first and we'll talk
markets from Mando hits us up. I think.
Our top story was Ape Chain. So Ape Chain has successful
launch weekend, several apps, a new staking mechanism, and a
growing meme ecosystem. It all led to Ape Ape corn
pumping over 100%. So, so shout out to the apes.
Stripe made huge headlines here, $1.1 billion acquisition of
Bridge, a platform specializing in stablecoin transactions.
Get this folks. This is the largest acquisition
in crypto industry all time today.
So huge news there, but talk, he's back.
He published part three of his Future of Ethereum blog titled
The Scourge. It addresses some
centralization, risk and proof of stake systems and lays out
some solution areas. The FCC and the Fed have been
somewhat busy, perhaps on the negative side.
So the SEC is alleging that Solana is a security in an
amended complaint in its lawsuit against finance.
So that is going to be 1 to watch.
That actually comes after they did approve that the spot
Bitcoin ETF options trading for the CBOE and then breaking.
I think Matthew Seigal shared this this morning.
The Minnesota Federal Reserve is apparently following the ECB,
the European Central Bank's lead on plain restrictions and taxes
against Bitcoin, as they laid out this very strange permanent
deficit Abstract paper. So perhaps we'll chat about that
in a bit. In token AirDrop and protocol
news, Pump Fund introduced Pump Advanced, offering a faster,
cheaper, more secure trading experience.
Abstract introduced Panoramic governance, a new mechanism
aiming to reward both users and builders in different ways
within their ecosystem. And then folks in memes and
NFTS, Meme corps majors. Well, they were green this
morning. They're flipping red here a
little bit. Giga outperformed.
It hit 600 million. FLOG was up over 200 million at
one point. AI coins dominated the weekend,
though. GOAT hit an all time high at 520
million. That number was exactly what was
needed to give Truth Terminals Holdings that $1 million mark
and then dipped all the way to 160 million.
After some fun over the weekend, it was back to 400.
I think it's around 3:50 this morning.
We saw Gene on sore acts, Slop and others.
Salon ended up doing more train volume than the entire E plus E
L2 ecosystem over the weekend on the back of that.
So that was quite notable. And another quick NFT headlines.
ACK office story kid sold his five one on ones in the piano
blossoms auction for combined 107 ETH.
That's $290,000. RIP cash sold his edition 64
editions in the birds collection for 30 now holding a .55 E four.
And then doodles announced their hob horse.
They're giving away a gold boned skeleton via some pack drops, so
it was a pretty busy weekend. Well, busy, busy, busy indeed.
I mean, wow, what do we even start here?
I mean, I guess because of a little bit of market update on
this front. I mean, because we strongly look
what are we at yesterday. Let's let's get let's get our
charts. Out today 69420. 60 Classic
69420 is that right? Oh my God, that's hilarious.
Yeah. It bounced right off 69420.
We definitely love our we definitely love our memes.
I mean, what do you think? You're right.
I know you said those Kelio's tweet.
You know, Kelio Kelio's saying that, you know, he, he thinks
we're hitting what, little 61 K Is that what he's talking about?
Yes, I I'm always the one who gets bullish at like the top of
range I. Mean I was bullish as fuck last
night. I'm with you.
It's not just you, brother. Straight line bias, but I think
people smarter than me who've been tracking this for longer
basically saying that this was the pump.
We're going to have the shakeout move down and then we're going
to RIP. I think Bob Lucas said similar
Kaleo is is charting it. So folks are basically expecting
us to print a new high or low. But before things RIP, I think
the question is on the timeline. Does it happen ahead of the
election? I don't know.
I mean, definitely. So I mean Trump's odds on sports
books. So they're giving him a -, 160
right now. So that's a pretty big favorite.
I think that that's arguably the biggest favorite I think we've
seen him at outside of, of prediction markets.
So the Trump pump is is real. Trump pump.
That's why. That's what this is.
That the is that? Is that what they call it now?
The Trump pump? Is that what I missed last week?
I think so, yeah. I think we're calling it the
Trump pump. Good branding.
You have to. You have to give it that.
That's Trump pump. I mean, you can't, can't spell
pump without Trump. I don't know anyways out of the
way they work out. For you, the more interesting,
go take a look at Eric Balkunis's tweet.
I I retweeted this one. Balkunis, I'm al gonna.
Say, oh, I saw you share something.
Oh my God, that's so funny. As you talk about, this is the
first thing I see on my timeline, my Twitter.
Oh God, that's the pump right there for those in the screen.
I literally just open open Twitter all right that to share
my screen. This is the first thing I see
you guys on last you said Balkunis, right?
All right, let me go to Balkunis here.
Our little our favorite, one of our favorite ETF Bros, one of
the two. It was this tweet I think you
shared. All right.
Yeah. So we we talk about like global
liquidity and it seems like global liquidity is on an
uptrend here. But what he's pointing out is
that even stocks ripping all time high that the 1st 50 BPS
rate cut, it's not getting folks out of cash.
So money market funds have held steady basically at their peak
level of 6.4 trillion. And, and then he's alluding to,
OK, well, what you know what, what, what's going to happen
when this cash does finally move?
And he's saying perhaps it doesn't happen until rates get
below 3%. I don't know when it's going to
move off the sides. You, you have to assume it is
going to move off the sidelines here at, at some point.
And then, you know, we've seen the, the global liquidity
curves. It does feel like to me that we
are still at the bottom and man, things start to get really get
really nutty when the money starts moving out of these money
market funds. But I mean, if you're keeping
cash and these funds, it's just getting inflated away.
Maybe folks just aren't aren't realizing it yet, but they're I
think they will start to realize if they haven't.
So I think that's a. Huge.
That's a huge metric to track. Do you remember that that?
Yeah, the global liquidity chart.
Global liquidity chart, where are we at on that?
Is there an update because it's been a couple months since we
talked about global liquidity chart?
I haven't seen an updated one. It's it's a hard chart to find.
I think I found it. Hold on, let's see.
There you go. Is this it it?
Well, it's not the one I'm talking about.
This is a good one. Bitcoin global liquidity M2
versus Bitcoin price. It's not a bad one, but there
was a chart that you know, it's like a band, right?
It makes it look like we're in like the first or second inning
of a liquidity run. I keep getting this like stupid
thing from trading view because I'm not I guess I'm not paying
for this thing or what can you pay even for the anyways, So
it's like this is a this is a good chart.
Actually here I want to show you this one.
This is the one, this is it. I guess the global liquidity
index versus Bitcoin price. I think that's what it is.
Yeah, global liquidity index, that's it versus Bitcoin.
I think that's what it is. So anyways, so that's that's a
good one. What else do we got?
I mean, in terms of in terms of macros and everything.
Is there any numbers or job? Anything coming up?
Do we have Wednesday FOM? CI don't have what's on that
list for this week, FOMC is November.
Yeah, that time. They're pressing in 1/4 bits.
I want to say why? You think they'll be quarter
bits, Quarter bits. So it's like November 6th and
7th, then it's December 1718. Is that what we're expecting
quarter, quarter? I believe so.
I'm going to try to pull it up here while we while we're
chatting about this. I think that's what we're
talking about last I checked. Because yeah, so 4, four rate
cuts, 100 BPS, that would be effectively 2525 is the heavy
favorite at 64% right now the rest of the year, all right,
makes it so we're going to see more of a gradual liquidity run
into the markets. But I mean, so we saw we were
talking before the show in NVIDIA hit a new all time high
leading stocks. So it's probably going to be
another green week for stocks. Well, at least it's looking to
start that way. It's definitely.
Marcus feel strong all around. It definitely looks really good
anyways, top gainers top losers and see what we're talking about
here. I mean bitcoins at 67 four E is
2680 hit like what 27 plus yesterday Solana on Solana talk
about a pump yesterday went all the way to 172 dollars with
yeah, that was that was quite a pump with it closed above like a
very important line, which is about 163, which was which
looked really good. I wouldn't be surprised if that
one heads towards new highs. What do you think here?
I mean, it looks like it wants it.
I I think it it's going to all the time high for sure.
And like we we talked about, you know, from a market cap
perspective, it it's even closer.
So it so strong. Like everyone, I think there's
more and more attention on the meme cycle and then folks
immediately want to look at the the picks and shovels play.
And that's Solana. Yeah, it's bricky out.
It's strong. I don't, I don't know if I have
like a real price target, probably somewhere like 350 to
500 in the end of the, you know, a good long bull cycle probably
somewhere in there. All right.
Well, look, we'll see where where the markets take us, but
it's definitely looking good for this last week of October.
Oh my God it passed so quick. And we got a little bit of time.
We got 10 days, God. Oh, it's true.
It's. True.
Let's not. Let's not wish away October, I
mean. You know what comes after
October? November.
November and you What comes after November?
September. I mean, man, these elections are
coming quick. Three weeks from.
Tomorrow. God damn, this is this is are
you feeling it out there in Chicago?
Are you starting to feel the feel the elections coming We're.
Out of it. So like Illinois is such a a
blue state that like, they don't really even run that many
political ads here for the most part, from my understand, folks
who are in the swing states like Pennsylvania, it's like it's all
they get. Every commercial is is just
plain wow. Yeah.
And it's just going to heat up. I mean, I think Elon is
sponsoring like these $1 million daily lotteries for people who
register to vote in. Dude, that is.
Insane sign these petitions. So there, there's a lot of,
there's a lot of right right now.
I love playing the lottery. I mean, I wish I could play it
over there. Yeah, Logan says.
Can't confirm. Yeah, I guess.
I guess Logan's in the swing state, so pardon.
Hopefully he's entering these these lotteries.
Logan, you got to enter the fucking lotteries, dude, like
$1,000,000 a day. That's that's wild here.
Why we need you to do Logan, we need you to enter those those
lotteries every single day and then we need you to ape our meme
coins. Maybe ape like $1,000,000 to
lock in when you win. You know, I just want clip just
like because we need someone to like Wick it, right, because we
need to fill a Wick. So so we need that.
Speaking of which, Speaking of which, how is our how are Murat
Murat Murat, Sorry, Murat memes doing right now?
Tyler House, because obviously, like we saw some retrace on the
across the board, but yesterday, I mean Tam, everything was
going. How are we doing on the meme
corn side? Yeah, and last night the Murami
Moore looked great, crazy, like they were ready to to really
make their move. It looks like some of the gains
had been given back a little bit.
Still mostly green across the board.
I think the big mover Giga, so Giga hit 600 million this
morning. So it it's basically at all time
high. Wild.
It was the one who the the hot Maraud meet the hot Maraud week
when the index basically added 1.5 billion.
Giga didn't move at all. It was lagging everything.
And then this past week it was the the big mover.
So I wonder if we're just going to see this kind of merry go
round of you. You're just going to be able to
pick like if one meme, one of the core memes is lagging one
week, like that's the meme to play for the next week.
Honestly, it feels like this is what's happening so so we'll
see. But it it was a play, right,
like even like when SPX was like really firing off and then like
mog was was trailing behind and you saw MOG like, you know,
complete go, go forward and like kind of beat it.
And now you saw SPX kind of like come back last night.
I mean that was until this morning and then, you know, now
Gigas turn. So it's it's like they're taking
turns, right? It's like they're taking turns,
but I don't know, I like being across the board in a bunch.
I've I've I've moved a few of my positions.
I revisited a few things. So yeah.
So yeah, I've, I've moved things around a little bit.
I've moved. I I was, I was heavy soul and I
was like, maybe this is where you go more risk on.
I I live far out on the risk curve so.
I I'm like really, really risk on right now, bro.
Like I I'm kind of like make it or break it type situation here
at the Faroque household. I I think we're going to make it
yeah. So it seemed like the rhetoric
was like, oh, the morale like AI and goat killed the Murad me
meta after a week. I I ran the numbers yesterday.
The index only gave back like 5%.
So it jumped from three billion to four and a half billion
across the 10 BS. It went back to like 4.2.
I mean, I, I, my prediction, I think we're going to see a 20%
move in the index this week. I bet we close at 5:00.
Solana at 163 looks so good. It closed above the important
163, which is it's tapping again right now.
I mean the next big, the next big level for souls around 8180
and then you look at the highs, right?
So it's looking so good. It's looking so, so good, so I'd
love to see that. Even East for a moment
yesterday, even east for a moment, dude.
Even east for a moment yesterday, it looked like he
wanted to crack it. Like, that's an important level
for it too, right? Yeah, the East boys were trying
to call out the East Bitcoin bottom for the the 100th time.
Because I did send that in the chat, right and you guys were
like don't talk about the East BTC ratio.
I was like a fucking retrospect. Maybe I shouldn't have opened my
mouth, but E BTC, hey, E BTC look kind of bottom yesterday.
If you think about it. It's been done only.
The number one indicator is whenever anyone starts bull
posting ETH Bitcoin, yeah, I know we're going to we're going
to retrace I. Know it just happened happened,
didn't it? I mean look at this right?
Like this chart is so let me put on dark mode.
This chart is so bad. I mean, surely it bombs, no?
It's one of the ugliest charts in crypto.
I mean, it's, I mean there has to be a bomb somewhere, I guess.
But the. Weekly on this is horrible.
Oh my God this is weeks. Weeks of down Weeks.
How long? How many weeks?
Many, many weeks? Huge weeks.
A lot of weeks. Big weeks.
Well, we're talking about two years.
It's down only since here, which is fair to say.
So we're talking 728 days right since this point here.
Holy, what's 728 days and weeks in in years?
Just about three years, two years, 30 days.
God damn. I wouldn't bear to the bottom,
but the narrative for Bitcoin feels much much stronger than
the narrative for Ethereum right now with all the other L ones.
Yeah, I'm not going to be the one calling HPTC bottom on the
recorded Twitter spaces in the YouTube podcast, but it sure his
house feels like it or it kind of like, Oh my God, anyways, I
don't want to talk about that. The monthlies though, you're
right on chin metrics here in the chat saying BCC monthly
chart looks so crazy. I mean, yeah, Bitcoin monthly.
So on a monthly, even a theorem like every single monthly chart
like is enough to make you feel bullish.
So if you're a little, you know, feeling a little shaken out this
morning because of what tiny dip?
Just so you guys know, we were meant to have a red September.
This was your September and this is your October so far, even
though your favorite influencers gave up 11 hours in October 1st.
So so here we are. OK, we're looking.
This thing looks like it wants to go to 100K Tyler.
Yeah, I I think 100K is the next stop. 100K's FUD anyways.
Where things get wild is that 100 Ki think that's I think
that's when everyone who's been hating on crypto and Bitcoin for
the last two or three years Yeah, has the realization like,
OK, we have to capitulate into this now.
Yeah, 100%. Speaking of this, Speaking of
East Speed Rail 2, Speaking of Tyler's top 1008 chain 8 News
coming out of the weekend. I mean, Tyler, I'll talk to you
from the inside, but like what, how, how, what do you, what did
you, what did you make of of the how was it like from the other
side? I guess it was kind of really
late for you. Wait early.
It was earlier Saturday for you guys.
It was night time for us when the announcement dropped there.
What do you make of all this? That was that was some big news
on the board inside. Yeah, it was a kind of a stealth
long track. I don't know if that we, I think
it was a surprise. They officially went live.
So it was Saturday afternoon or early evening for those in CST.
And then I had some friends start to bridge over.
I wasn't going to do it. I was like, OK, I will do this.
So I actually did bridge the first night and perhaps we'll
chat about some of the meme action.
But it it went live Saturday night.
Ape started ripping ape and ape coin.
Ape coin ended up going up about 125%.
I think it hit to like $1.75 at peak.
It's down a bit here this morning.
So it hit $1.3 billion market cap that came with their
announcement came with new staking rewards for Apecoin, I
think natively and without having to to manage it.
They have new interoperability features on new apps.
So top trader launched its train simulation game.
Apexpress provided AirDrop rewards for anyone holding the
NFTS. And then that's the like the
pump fun app of the ape chain. We saw battle plan go live, a
chimpers game went live. So it a lot happened.
It was a nice kind of start, like Big Bang and then and then
Saturday night and the story was the meme coins.
And they've since given back a lot of the gains.
But yes, it was everything, right?
Curtis ran to 28 million, Dukey ran to 4 million.
I think board ran up fairly high and then this like crypto is fun
when CIF ran. So anyone if you were, if you
had quick exits on Sunday morning, there were easy four to
10 XS on the board. But but if you held, then you
you gave back a lot of the gains.
That Curtis one, I mean, I, if I had to pick, I didn't bridge
anything and just go home. If I had to bridge anyone.
Curtis one makes more sense cause Curtis is kind of like
the, it's kind of like the symbol of the apes, right?
It's kind of like the state. It's like the fit, the face of
them all. It's not like in that bad.
It's got a come man. It's, it's impressive, man.
A billion dollars in the, in the in market cap was added to ape
ape coin overnight from the news.
Not only that, I saw a tweet earlier from someone saying that
it also got felt around NFTS. I mean, the Zuki added 8%, Pudgy
added 3.7%. Everything went went higher
across the boards to proof that like this is a kind of good
news. That is good news for the the
space in general. You were saying earlier in the
chat when you and I were talking about before the show that like
this is good for other L2 ecosystems that may be coming
out that are out. Like what?
What are your general thoughts about it?
I I think there was probably some trepidation just kind of
after blast. I felt there's a hangover from
blast that it was just like pure farmers and no one really
enjoyed it. And then when the rewards came
out, everyone kind of left. I think ape chain shows some
signs of life. People were having fun.
People who weren't in just the board ape or yoga ecosystem were
bridging over and using the apps.
So I think they showed you can have a successful launch
weekend. I think you have to have the
pieces right? You have to have you have to
have a few of the apps, fun apps going live that people are
excited about. You need to have the hardcore
holder base behind you. I think like the the loud apes
on the timeline, like D farmer, like Zenica, Chris Jordan, those
those folks all backing. I think that is important as a
part of the the launch recipes. I think people are going to look
to to them. And then, like, I mean, if this
meme coins super cycle, super cycle and quotes, if it
continues, I think that's a part of the recipe too.
Like you need to have a, a bit of a speculation ecosystem when
you launch because that's, you know, that brings the headlines,
that brings the capital over. So, so they nailed it on night
one. It it's early, you know, to to,
you know, really be breaking out like all the the party hats.
But I think I think they have to be pleased with the opening
weekend. Yeah, they should be.
I mean, look, boots on the ground here.
It was a lot of fun. How to blast it was.
Great, how was the party I'm I'm curious what it was like boots
on the ground. Dude, the production was
incredible. I was texting with, no, it's my
Wi-Fi. I was texting with Gordon right
after Ape Fest was asking my thoughts and I was like, dude,
like his team. I mean, I can probably read what
I said. I was something alongside of how
how impressed I was with with his team and and what they've
done. It's it was it was really,
really, really cool. First of all, getting Anderson
pack was pretty fire to, to, to to perform locks that were
losing our show. Like let's go because we like
him. But in general, like the
production was great. The convento event, which was
like 9:00 to 5:00 every day, plus the first like party
opening night was great. The merch and the apparel and
everything they made. By the way, the branding is
impeccable. I love the ape chain branding.
I like the way they're going about it.
I love the graphics, the visuals.
I ran into veils over there. He, he told me he worked with
them on a few things. Also for visuals that were set
up in Portugal, the the main event was sick.
I mean Tyler like this, this goes to show you like why
they're kind of different from the rest.
Like they really put on their own festival, right?
Like I think they're the only kind of PFP parts that puts on
their own stand alone festival, right?
They don't tag along to like the bass, like us, right, Like we
tag along like rug radio to like, OK, our house basketball,
our house is like big. It's like a it takes a lot right
to do your own production. So big shout out to that team,
the whole team for putting this together.
It was incredible. Look, I don't know how many
people showed up. I guess their token proof can
tell you, but it was north of 1000.
I feel good crowd. A lot of OG apes got to give
them some kudos, man. A lot of these people wrote it
right up down and states like when it comes to like the whole
cult thing, like I spoke to so many people there, dude that
were like the type of people that held it like half a million
held it through the lows and that felt good for them, right.
Like I feel like that was a huge like like a relief right as an
OG holder, like damn, like, OK, like there's a good future here
for for the board APR club and for Yuga labs in general.
Thought it was great. It was a very apple ass
presentation. So like, you know, a lot came up
a lot cooked right and the and the MC ING and then like it went
dark and then you have fig. It comes up like literally it
was like apple presentation inside this old like Portuguese
building, which was really cool. I think from like the 1500 or
something. And yeah, and then news dropped
and I I don't know why I didn't just go long ape like the news
dropped in you're. Busy.
You're in. You're in the midst of it.
Yeah, that was the trick. Fuck, I texted the boys.
I'm like guys, pay attention. If shit cores launched this
thing just went live. I should have just, I should
have just longed the thing because it went up, what, 30%?
Anyways, it's fine. I was like back on the cult
thing just real quick. So like Maraud's NFT cult list,
right? Notably left board apes off but
like like this, this proved it. Like how many other projects can
get 1000 people to go to Portugal?
You know for their what their 4th annual party?
I think this was like these these guys are a cult like come
on, like they wrote their entities up to half, $1,000,000
each. Yeah, they're.
Still holding them. So like you can't you can't
dismiss the the more rapes and they're they're pumped under the
whole ecosystem pump. And so we are we got root for
it. Yeah, I mean, look, I think I
think a win for the Ugandan apes is, is a win general for that,
for that ecosystem. So it's good.
I I love to see it. The production was incredible.
Everything was good. The food was great.
Drinks were good, though. I didn't have any drinks
actually. 21 days let's go. But but, but you know, I saw a
lot of people having fun. Yeah, it was cool.
Also a lot of people flew down with their families.
You know, it's Lisbon. So like, it was just a good
vibe, dude. It was just a good vibe.
It was good to meet some old friends and and I think that
they did did incredibly well. There was a lot of, there was a
lot of side events. There was just a lot going on
all day long. You can probably hear it from my
voice. Got a little sick there so.
Real quick before we get off, I think so.
I saw an interesting stat from Apexpress that only 2.2% of the
ape coin has bridged over to ape chain.
So like my head immediately goes like you have to assume that
they're going to have more and more incentives to get ape coin
into this into ape chain, right? So there's going to be more
money in the ecosystem. I, I think that's going to be a
key step to watch. A lot of the core holders were
out partying in, in Lisbon all weekends.
So they may not even be back at their desk.
Or they're sick. So I think this is going to be
an interesting week to to watch it.
And I think, you know, from like a trading perspective, I'm
expecting a liquidity influx and I think there's a good chance
that the some of the ecosystem assets go higher.
Yeah, 100%. I mean, that's the that's the
tweet, right, that you brought out.
So there's a lot of stuff left to be bridged.
I'm curious what happens. I mean, still got my apes.
So I'm I wonder at some point if I'm going to be able to get
rewards for having a this not. So I think there's going to be a
edge here with it and I'm I'm curious to see look, I'm bullish
on teams. I keep going.
I don't really care what people think or say about board apes
and stuff like I just think that it's cool that they're doing
their thing and they're doing their thing.
That's it in their building, right.
Many people laugh maybe we're no longer there.
So you know, for me, it's not pudgy or apes or this that's
pudgy and apes and azuki and doodles and this and that So
very positive news, very good event, super happy.
Big thank you to spicy and the entire team for commenting every
one of us. So it was it was a lot of fun
had a blast and I also got that BMW jacket, which is fine did
their BMW activation was really cool.
By the way, I didn't get to participate too much, but I saw
everything was like you're driving a car.
There's a thing on and it was like a board 8 Golf Club branded
like like race track, right? It was super freaking sick.
There's a lot of great founders, great builders that were also
there for the friends and family dinner the night before, like
the Camelot founder and just a bunch of cool people from the
Michelin team to the BMW team to this and that.
So lot, lot, lot, lot, lots of of of good stuff on that front.
But anyways, Tyler, what else do we got?
Yeah, I guess a few other headlines, one to watch, perhaps
more on the negative side or a couple.
So we had the SEC come out and signal their aggressive stance
against crypto isn't slowing down.
So in their update complaining it's finance, they're
elaborating that selling Solana and other tokens like Cardano,
like Polygon constituted legal securities offerings.
So they're still coming after these alts as securities.
So I think that is going to be a storyline to watch.
On the other one, this one out of the Minnesota Fed that that
Matthew Siegel shared this morning, I sent over to you what
kind of came out of left field. I wasn't expecting it, but
another one to watch. I'm not putting too much stock
behind it. He also said that Vanek where,
where he works, they haven't changed any of their price
targets or whatnot. But apparently the Minnesota
Fed, there, they published this, this long research paper,
basically how the United States can continue to run a permanent
deficit, but for the United States to run a permanent
deficit that requires that Bitcoin is out of the picture.
You really said that? You know what's funny is like
the, the United States kind of like docs themselves and like
no, like, you know what I mean? Like, it's kind of like they
kind of outed themselves, like this part, right?
Government stock is government stock is, like Bitcoin, a claim
to nothing. That's them saying that while
the government may be paying a dividend, it doesn't.
It does so by distributing a primary surplus, but simply by
printing more claims to nothing. It's like, yeah, we're not.
We're not even dancing around this or hiding it.
Like we're just going to come out and say this and like that.
There's real implications, like more folks start drinking this
kool-aid, right? They're talking about taxes
restrictions. So it, it is a serious issue.
But again, it it's, it's not one that the van EC is putting a lot
of weight behind. I don't think it's something to
to be too concerned about just yet.
But man a a wild headline there. Yeah, it seems like he's kind of
making fun of it. Like they said, not really
supposed to say the quiet part out loud.
Guys. It's like it's like full on
admitting like, all right, we know, all right, that's it.
You know, like we we just want to ban Bitcoin because we it's
fucking up with our vibes. Yeah.
Thank you. I took him like, what, 11 years?
What is it 11 years out too? To, to be able to, to, to admit
that. So I thought I thought that was
a hilarious headline. We have that on one hand and the
other hand was talking about Bitcoin strategic reserve and
the United States buying. So there's there's a lot of
different scenarios at at play here and more positive news.
So we saw the bridge news, this one kind of came out.
I feel, I think a lot of folks in the crypto trenches actually
hadn't even heard of Bridge. I might myself included, but
Stripe acquired Bridge for $1.1 billion.
That's the headline. Bridge is Co founded by two
Coinbase alumni, Zach Abrams and Sean Yu.
They effectively built an API that helps companies accept
stablecoins. So that makes sense for Stripe,
right? That's what Stripe is trying to
do is help businesses accept crypto, accept stablecoins and
do the auto conversion behind the scenes.
Apparently Bridge, I mean, Bridge has had some success.
They'd already raised $58 million at a $200 million
valuation, but here, man, they they 5 and 5 1/2 X.
For them. 1.1. 2 1/2 years old, dude. 2 1/2 from 0 to $1.1
billion. It was.
This was made by Michael Arlington.
Actually. That would be a great guest on
the show. Oh, it follows me.
Oh shit, let's get him on the show.
He broke the news here yesterday.
I believe he did regarding Bridge.
He must of. Course, well, so a lot of these
are saying it is reportedly, I don't know that we have any more
confirmation beyond what Michael has said.
Because the article says they're in talks, but Michael confirmed.
Right. Was this the biggest seminary
event in crypto? It is, yes.
It's a ground breaking acquisition.
What do you think? I mean I tweeted that yesterday
right away on the back of that, you know, I tweeted something
along the lines of that we'll see a lot of I said we're going
to see some big M&A in the industry in 2025.
This Tribe deal is huge and sends a great signal out there.
Big players are going to one in but won't have the competitive
advantage to build from scratch no matter how much money they
have, you can't buy time. What do you what do you think
about that? Yeah, I agree.
I think it's going to 2025 set to be a huge year for the crypto
industry. You know, we've seen a lot of,
from what I understand, a lot of money, a lot of players are
still kind of been on the sidelines waiting for more
regulatory clarity, perhaps administration change.
If that does indeed happen and we start to see the signs of the
campaign promises were true, I think it's going to open the
floodgates. And then all that coupled with,
you know, if we do see the run in Bitcoin of 200 K, we see a
lot more retail interest, right? It's perhaps a perfect storm.
So yeah, I'm with you. Yeah, yeah, no, I, I absolutely
love to see that. And I mean, look like last but
not least, I mean, let's talk about this ACK sale, a little
bit of art. I mean, you've got some art you
have RIP Cash selling 64 editions of So ACK so the entire
collection that it seems like hive mind picked it up that I'm
such a big fan of is he's so talented.
I love. ACPA, He's one of my personal
favorite artists out there. Me.
Too. Me too.
And he does a great job of like timing out his, his output,
right. And not just like, OK, I've got
some bills coming due. I want to put a new like
extension on the House. Let's let's drop a, you know, an
open edition or something, right?
He's much more thoughtful that what he releases and he's well,
I think what separates him right now is how he does the the
physical prints. They're beautiful.
For him right now, I actually think he's more focused on the
physicals and then the NFT is just kind of is there with it.
But it's hard to take away from the success here in this market
where really beyond X copy, we haven't seen a whole lot of
success. He sold 5 pieces, 106 ETS on
average of what 2121 1/2 ETH per piece.
What is now what we all need to start watching will be the sale
of the edition. So there's AX of 30 edition that
would be selling. I mean, I forget the date, it's
not today. I want to say perhaps it's the
24th, so that that will be the next one to watch kind of coming
out of this. But yeah, shout out to to to
hide mine. It looks like there were some
fireworks at the end of these auctions.
Yeah, yeah. And they've got all of them.
So, you know, love to say, you know, he's such a deserving
artist too. Like, you know, he works so hard
and stuff is so cool. So he waited a while right
before. I don't think ACK dropped
anything in the long. Was it piano keys?
His last scene. I think that was the last one.
What are they sitting at right now?
I love those, man. He came on the show to talk
about them. What were they called?
That's exactly on. This now.
ACK some of the comments quickly want to tell me he's got the ACK
editions he's got. I hate that I don't remember the
fucking name dude. I know I'm, I'm not going to
remember it either, but I think, I think OB got one.
Yeah, they're all the the custom piano pieces.
It's a beautiful collection. I really I know it's.
Broken keys. Broken keys.
That's broken. Key.
Thank you. The broken keys.
There you go. Oh, that was such a nice
collection. All right, So 15, I think that's
kind of like no one's selling these, man.
This one's going, this one's gone.
This, this, this, these are going to stay high this cycle.
This is like his. I hate to compare artists.
That's like his calls, right? In my opinion.
That was my favorite piece. Oh fuck AG Funk on that one at
the time. Oh, I was bidding in these
auctions and then they all. We were too the.
Nuts. We all were.
We were all. He came on the show early on.
It was like me OV. And I remember that.
Yeah, yeah. We talked about, talked about
this, his art and everything. He's man, He's so talented.
Love to see that. And then there was a RIP.
RIP Cash, you said. Correct.
So RIP cash. I think folks will know him for
like the his camera theme and this one of his major.
So he released another edition from this remote control broader
collection. It's called birds.
There were 64 items sold in half an eighth.
So you know, signs of life again.
And last week was a big week for art as well.
Art blocks curated that the Boca, those lamps that have like
the physical component, which is the new direction, those the one
on ones lost. And actually the the the broader
collection goes live this afternoon.
So that's going to be 1 to watch those who are in the generative
art space as well. So it's getting up a little bit.
I love that actually speak of which I was having dinner with
Raul and Snowfall last week in Paris.
It was a lot of fun and man, that would really cook dude this
cycle so far this he's in the bananas.
He was wearing a bananas on sweater everywhere he went.
Loved. He bought bananas on six months
ago, so I mean, eventually he's going to be right.
He bought the bottom vexed copy. Yes, he did.
That generational bottom, by the way, I do not think you'll ever
see those prices in the history of Vexed Copy again when it
comes so hard because that was like a Big Bear market.
So yeah, we'll get another bear. But when it comes to these
prices, I don't think you'd go that that low in terms of I
Scott, because they've got into strong hands right now.
So so I spoke to him a lot about that.
And Snowfall too, man. Snowfall is getting some really
cool stuff. So at Ledger, so Snowfall is
going all in on the physical stuff.
Obviously that's NFT and stuff, but with the NFT a little more
abstracted, actually saw you a little more completely abstract.
I mean they don't use the term NFT anymore at all.
Isn't no no zero. So when you got into the Ledger
event, which by the way, I have to give Ledger Meg a shout out
to not just a chain that event nine story building Tyler in the
middle of Paris, insane offices, like absurd offices.
I think I think I have a flex somewhere there that I got a new
Ledger flex. Super cool sax coming.
But anyways, it was incredible and they had an install at the
as soon as you got it in from from art blocks.
So basically he's getting fully into like printing your art onto
hats onto things and like embroidered.
I'll just print like proper embroidering.
But what's interesting is it's not like I don't say he doesn't
believe in, but it's like he's going away of like not you don't
get it right away. You get a card.
So it's like a regular card. I don't know, like, let's say
it's like a card this big and that's the ape fest thing.
Whatever. It's like a card, really cool
card with the art and A and A tag in there.
And then you go home, you get the claimant and get it so you
don't leave. It's like with it.
So it's a thought Press of like getting the art get in the card
physical and then the stuff comes second.
But anyways you guys will see well.
It slows down, slows the whole process down, right?
Which is from like the goal, like let's just flip this the
second we buy it. Like they they probably
recognize that as an issue. He sort of needed a little more
time to figure some stuff out and put into like a a thought
and write properly. Then he'll come on the show and
we'll chat and then we'll probably do some stuff with Snow
first. So I really, really love that
they're cooking. The space is alive in the well.
Tyler, that was a great show. You love to see that everybody
don't get shaken out, fam. Don't get shaken out.
Not here. We didn't come this far to come
this far. And with that, with that, with
that will sell tomorrow morning, 10:00 AM Eastern Standard Time
for the episode of Formal Hour on rock radio.
Let's go.