Good morning, good morning GMGM everyone and welcome to another
episode of Omo Hour today. Today is Wednesday, April 9th,
25. Yesterday we said it was going
to be turn around Tuesday. In fact, it was.
It was a a historic turn around Tuesday, the biggest intraday
turn around in stock market history.
But it went the wrong way, and now China is clapping back on
tariffs along with the European Union.
It felt like the sky was falling last night, this morning.
And the question is, can we even turn this back around anytime
soon or are we in for a lot more pain?
We're going to break it all down on today's show.
No, for Oak. He's still at Blockchain Week.
Amanda will be joining us very likely here in just a few
minutes. But while we wait, we still have
Logan on with us live from Peru. Logan GM, How you doing?
Hey, good morning, Tyler. I'm doing quite well despite the
market antics. Just took a couple days off from
my job duties to enjoy Peru. And yeah, I'm, I'm feeling
pretty good. I actually feel rather
refreshed. I know it might, it might seem
crazy that that's even possible, but mark it aside, I'm doing
pretty well. Well.
You picked a few good days to to do that.
And actually it was quick, serious recommendation.
And folks, if you're, if you're on the timeline and, and you're,
and you're doom scrolling and you see all this doom porn, it
is healthy to take a break, put the phone down, go outside.
Normal people outside of CT aren't, aren't running around
their, their hair on fire. So I think that's always a good
reality check. So what what were you doing in
Peru? Well.
My fiance's family came in. She's here for a clinical
rotation for her physician assistant school, so her family
came in, so we're just showing them around.
Yesterday I went sandboarding, which is like snowboarding down
a sand dune. Never snowboarded before.
Obviously, I've never sandboarded so yeah, just, you
know, taking in some of the stuff that we don't have the
opportunity to take advantage of where I live in rural PA and
enjoying it. And as you, as you noted, being
away from the screens. It's been like 4 days now since
I opened my laptop more or less. It doesn't feel quite as bad
when you just close. It doesn't feel, it does not
feel like Chicken Little world is, you know, sky is falling out
there. Of course, as soon as you open
up the laptop, things changed quite dramatically.
Last night was the most the sky is falling I think I've seen in
quite some time on X. And this is bigger than just CT.
This is like Tranfi X as well. We'll we'll get into it here in
a minute. Before we do that, though,
Logie, I think you also have a bit of a crypto solves this
anecdote from Peru. Yeah.
Tell tell us. Yeah, yeah.
So man, I was trying to get some cash out for this excursion
yesterday and just the, my gosh, the, the difficulty in getting
funds into my hand from my bank account here into my hand into
Peruvian solace to be able to hand over to the folks to go
sandboarding. I was standing in line.
I had to walk from Western Union to Western Union to other
Western Union to another place, do this thing, do that thing.
It took me like 5 miles of walking and two hours of, you
know, just kind of waiting in lines and stuff.
And the entire time I was thinking, man, crypto really
does fix this. If I could just send some USDC
to these folks. And the issue is they do have,
they have like things like Venmo and stuff, but I need a Peruvian
bank account to use the ones that they're using.
It's not as simple as just like no intermediary.
Let me send some USDC to this, to this gentleman's Ethereum
address. So yeah, it's one of those days
that there are, it doesn't feel like there are too many of them,
Tyler, at least not right now. But it's one of those days where
you actually just step back and you're like, all right, you know
what? Crypto makes a little bit of
sense, at least a little bit of sense.
Well, we, we love that take away live from Peru while you were
off from the screens. Mando is on with us.
Mando big day. Jim, how you doing?
Yeah, Tuesday. Just I'm doing OK.
I'm doing OK. Busy but but but good busy
market seems to be bouncing back slightly.
I guess like definitely doesn't feel like we're going to zero.
I mean all the stuff that I mentioned yesterday has kind of
just gotten worse. I would say in macro, you know,
10 year bond yields went even higher, stocks went lower.
You have the rhetoric increasing from both sides, interestingly,
like there's been certain rhetoric at least over the last
few hours, which points like more military based, I would
say. Like there was a comment from
Peter Hexa saying we're going to repatriate the Panama Canal.
Remember, that is owned by a Hong Kong billionaire who had
just sold it to Black Rock. But but China was going to block
that sale. So I don't know what that means.
And then similarly, China just issued a, a travel warning for
its citizens going to the US, which you would normally do in
like a, in, in a, in a time of like something's about to go
down. So I, I don't love those two
headlines and I don't love the increase in rhetoric on, on like
the defence and, and, and side. So, but markets are bouncing a
little bit. I think people are still kind of
wondering what's going to happen here.
Like does Bitcoin feel like an OK hedge suddenly now again to
all of this, even for, for people from all over the world,
Like I think people this isn't this is now affecting a lot of
different people. And I think people are wondering
where to put their money to put it in Chinese yuan.
Should they put it in yen? Should they put it in euros,
even dollars? And I think a few people
decided, hey, actually I think Bitcoin might be the one just to
hold over this period. So I, I put out a tweet before
we went live. I kind of felt like Bitcoin was,
it's held the 76 1/2 K level through some wild macro stuff
here like and I just get the feeling it could pop.
I really do. You're already seeing money
printing kind of being announced, I think, sorry.
Some Japan said they might basically do helicopter money.
China's the only way China can deal with this is by massive
stimulus. And then there's some talk about
the Fed intervening, but not in not traditional QE and not not
like lowering interest rates. So it's like swap lines, making
sure banks are well funded. We may see a headline around
that, I feel, but. Well, I I want to go into all of
this here in in a bit more detail before we do that.
And then thanks for teeing up our our full market report
there. I do want to give a shout out to
our show partners here before we really dive in, starting with
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what's next. All right.
Well, Mando, I know you kind of already started your your market
report there, but let's let's get right deeper into it.
Yeah, who is the man Macro, daddy of the land?
Can you dig it? Yes, I guess I did kind of
already get into it. Sorry if I jumped the gun there.
But yeah, my general view here is that Bitcoin may bounce, but
this is not getting better. Like if people thought this was
going to be resolved, this doesn't feel like it's going to
get better, at least between China and the US.
In fact, it seems to be getting worse by the hour.
And as we said yesterday, there's a lot of ways that these
two people can hurt each other. And they're both kind of strong
men who I don't necessarily think one of either of them
wants to back down now. Now, the US obviously started
almost like a trade war with everyone at the same time.
So you could see some better headlines over like deals with
Japan or deals with South Korea or deals with Australia, UK,
like easier deals. These things do take a little
bit of time though. Like it's not like tradition.
The UK has been waiting on a trade deal with the US since
Brexit. Like it's not, it's not like, Oh
yeah, deal done. Like these things can take a
long time often. So let's see.
And yeah, particularly about the EU, like EU does not move
quickly and they've said they're going to do retaliatory tariffs
as well. So I don't know if I was Trump
or the Trump team here, because I think there's some internal
division already starting to show here.
Like it might make sense to indicate, you know, you may be
willing to do some deals with with with more allied partners,
let's say. And I think that that is a
headline where probably, you know, if it says US set to
announce deal with UK, you know, or set the deal with Japan,
South Korea, I think I think the market would rally pretty hard
on something like that just to because it, it signals that, you
know, they're, they're already in the deal making sort of phase
of this. But I don't know when the
headlines going to come. I think the the bullish thing
for Bitcoin, which I've said for the last few days and obviously
it's gone lower even on the last few days, is that we're about to
see unbelievable amounts of money printing.
And when it stabilizes, I think Bitcoin it really pops because
of that. But you just don't know the
headline. Like if China invades Taiwan,
that's not a great headline. That's really not a good
headline. And this, you know, this feels
like it's going not terribly that way.
Like, you know, maybe North Korea starts to get involved in
too, Like that's like a China proxy and and has been involved
in some of this stuff before, like North Korea versus South
Korea. Maybe that's flares up like this
is not just we're going to strong arm China like this.
They have a lot of different things that they can do, I
think. And that's not like saying that
they're they are stronger than the US.
I'm just saying that there is some stuff that could go down
here if this isn't resolved. So I think you have to just be a
wary that if you're long, you're praying there's no more crazy
headlines and there's some loose level potentially of, of, of
resolution, least with allies. But over the next three to six
months, I think this is a very good buying level for for
Bitcoin. That's that's my general view,
because I think money printing in this world is about to go
wild. And I also think there's a lot
of questions about reserve currencies like what to own.
And I think I think Bitcoin does well in that environment.
So I, I can never predict what's gonna happen over the next 24
hours or week at the moment because it's just crazy.
But I do think this is a good buying zone here for Bitcoin.
I I had that same read, no idea where where the bottom is.
It could be back at 72 K. Maybe it goes lower like KBN has
been calling for 60s, maybe 50s. But if you are DCA ING in, it
does feel like a pretty decent level here.
And I don't know, I think this has kind of been mocked a little
bit from the Bitcoin just trades with traditional markets, but it
does feel relatively strong to me like it's down 9% on the
week, like the I think the Max 7 is down something like 15 to
17%. Definitely strong Bitcoin,
Bitcoin is really outperformed here.
Like you have to understand that this is this is a classic case
of a correlation of 1 sell off. And by that what I mean is every
single market is selling off Oil just went below 60 stocks are
selling off, bonds are selling off, right.
So you have and even oil, even gold sold off for a little bit,
right? Like you have correlation of 1
sell off where everything's going.
And I think that is that will affect Bitcoin.
But but a lot of the stuff that's happening here is kind of
bullish, I would say for Bitcoin, provided that there's
no like World War 3. And that's the one kind of
uncertainty for me. So yeah, I think DCA or have a
long term view here. I'm not saying the Bitcoin can't
go lower. I just feel like this is a good,
a good point for it here. This this 76 1/2 K level is held
through a lot here. And something would have to
really go wrong in my view now. Or yeah, maybe we had some crazy
headline, you know, like ships seen off Taiwan, like, oh God.
And then and then and then we could hit like 60K or, or high
60s, something like that. But but yeah, I don't know.
It does. Maybe we're on that trajectory.
I mean, this is escalating rapidly.
I think that's one of the the consensus takes from the the
chats I'm in who folks who have been following this kind of
daily since last Wednesday like this China trade war, it was
25%, then 50% then China matches US comes back now China's
escalating and then now the right before the show, you know
that this risk warning to travelers.
So certainly like that, hopefully just another like sign
of escalating rhetoric rather than than more than that.
Certainly as an American, I hope that is the the case here, man,
No curious for your thoughts. I mean, last night, like I was,
I was on CT on tread fight Twitter and it really felt like
the sky was falling. I think everyone was talking
about the bond market and bonds breaking and this this swap rate
going incredibly like falling off a Cliff.
I'm curious, any insider like what the hell happened last
night? And like, why aren't we lower?
Like I thought when I was watching this all unfold,
Bitcoin was going to 75 Ki was like, we're going to open deep
red tomorrow. Yeah, unless I'm less worried
about banks not having liquidity.
In fact, I kind of see that as semi bullish like, because,
because I think that the Fed would just step in and provide
that. I'm, I'm more worried about
sovereign bond market. So that if that figure goes to
like 7% on the 10 year, on the 30 year, like that is not a
great scenario. And you could see various
countries defaulting and you could see the US even facing
real issues with its own deficits, right?
I, I don't know if that's going to happen or not.
It, it feels as though I wouldn't rule it out.
I wouldn't rule out. That is also like a big worry
if, if, if it keeps on going, China's got $750 billion of
Treasuries it can sell. There were some reports that
they were selling yesterday, but there's also some reports this
was actually like a blowing up of a basis trade, which is like
unwound between futures and cash.
So, so if it's that and you've still got that China can sell
750 billion, like that's not a great headline either.
So yeah, I'm not sure on that one.
I'm not sure on that one like that.
That's the other. If 10 year goes to 6% plus here
that that that would really that would really worry you, worry
me. Definitely one to to be watching
there and cautious hub. I think some of this is out to
me with some of the the US leadership rhetoric coming out
this morning. Trump's all over the place.
He's saying pass the tax cut bill now our country will boom
feels a little out of left field and not the.
Right. Be cool.
Be. Cool.
Be cool everyone. We're going to be bigger than
ever here in in just a a few days.
The problem of course, everyone from CT knows the last time a
Trump told us to buy something it was Ethereum and it went on
to fall 50% in the matter of a few weeks.
So we are a bit cautious when someone with the last name Trump
tells us to buy an asset. This that coming out and saying
for the next 4 years it's Main Street's turn.
I mean, I've been a best at fan, spoken highly of them.
Like this comment feels a little out of out of pocket.
I'm not, I'm not really sure what it means.
And I think there's a lot of evidence that the tariffs would
impact Main Street, perhaps even more so.
I think they're winging it, but I genuinely do.
I think they're just kind of seeing what happens and then
they the narrative can kind of shift.
I, I don't think it was really pitched that that Trump wasn't
going to, wasn't going to be good for the stock stock market.
I think this is just kind of become the pitch now, which is
like, these are more populist style policies, which could
really hurt, but they'll be good for us in the medium term.
I, I, I, I think a lot of that is just political talk.
And that's not like being anti Trump or anything.
I just think that like narratives can shift and, and
they'll own it and, and they're always going to spin it as like
a really good thing. That's just that's just
politics. Yeah.
And at the same time, I mean, I think more and more folks are
starting to call it like one of the worst policy mistakes in
century effectively. Yeah, I mean, definitely not.
I mean, I think we called it on the show even at the time like
it's I think, I think the the tariff stuff, the way it was
done is maybe not how I have done it.
But, and again, I just don't I've I've read some commentary
more recently which has been like, oh, you know, it was meant
to. This is now just become like a
China fight. And I, I actually thought that
that from the start was kind of what Trump would do.
But but he's also just kind of even the comments yesterday and
then he saw it was like everyone's kissing my ass to do
a deal. Like it's not great diplomacy.
At the same time, I would say like if he was also if he had
like a lot of friends on his side at this stage, I think, I
think his position will be stronger.
But what I think people are reading through is that maybe
this is hurting US. Dollar power and the US is
obviously the strongest country in the world and all that.
But like part of the commentary around the rates going wider is
that like people are a little bit more like, well, maybe
people will run into the hands of China and something like this
if this is kind of how your friends kind of get treated.
So I think if I was in the administration right now, I
would work out how your friends are and do deals with them.
Like it's a very simple strategy for me right now, right?
If it's if this is about China, make it about China I.
Think there there is some sign that they're going to do, that's
what they might do. Yeah, I I think that would be
the smartest move. So we will see.
I mean, Bessent, I think it's taking more of a leadership
role. He's he's driving the
negotiations. I think it's clear that there
are some negotiations happening. Trump's lack of diplomacy, not
not the best, right? Like if we're going into a trade
war in China, who has perhaps even, you could argue an upper
hand. We probably want some allies and
and not just to piss everyone off.
That's what I mean. I don't even think you can't.
It's not like you don't have to be a strong man.
It's just that I think it's gotten to the point where it's
like. You could be strong to demand,
yeah, that's all like. Yeah.
And I think that's like, you know, Europeans, although
they're weak, they might not respond well to that.
And I think some of the other countries might not either.
So it like, as I said, like domestic politics is important
for for politicians from those countries too.
Do you know? So if he's just going to like
mock people as they if they need to make deals.
And then that's, and to be clear, some of the countries
have trade surpluses. I've said this a few times, like
you could do with a deal with the UK, like that UK has a trade
surplus, Australia has a trade surplus for the US.
Like you should just do a deal and then and then it's like, OK,
well, now we've kind of started to guess who our friends are.
One thing that's becoming less of a guess is like the recession
odds. I think Jamie Dimon said it's
favored at this point. Polymarkets got it favored 65%
US recession in 2025 and that means negative GDP two quarters
in a row. So a worse Q2 certainly seems
like it, it is a pretty much a reality at this point because
even the this, the negotiations that we're talking about as a
positive case are still going to take months to play out.
Like we're talking about April, May, June.
I think the best thing says much like this isn't going to be done
next week. Yeah, yeah, this is a lot.
That's what I was trying to say before.
Like these deals can take months.
Like trade deals are some of the most difficult deals possibly to
do because they often involve agricultural bodies and
industrial bodies also to agree in unions.
And it's like they can be really, really long.
Like WHO deals or just general trade deals between like NAFTA
took years. Any trade deal can take a long
time. So if it's, if it's like, hey,
we, we were a low tariffs for a trade deal, those things can
take months just even for individual countries.
So, but, but I think that's why I was trying to say like with
the UK and Australia, you can just drop it.
Like they've got, they've got trade surplus with you.
You know, they're, they, they import more than you, you do.
So there's no need to do. Some wins.
Let's start checking off some of the names in the 70 country
list. Yeah, Logan, I see you're
nodding. Want to want to give you a
chance to jump in on the conversation.
This reactions to how this is all played out slash escalated.
Yeah, yeah, not too much different to add, unfortunately,
from the conversations we've had over the course of the last
week, Mando said. It feels like they're winging
it. That's kind of where I'm at.
The headlines seem to contradict themselves.
Often times the commentary contradicts itself.
Some of the theses that we initially heard, right, like,
hey, we want to get the 10 year down.
Like maybe it's too early to say invalidated, but it's not
working right now. If that was actually the thing
we're looking to do. It's just, I don't know, it's
tough. It's tough to be in this
position and really say too much.
And it's difficult and painful to sit by as someone you know,
who of course alongside the rest of you is losing money is
uncertain. So difficult time.
The the comment from Besant this morning kind of irked me more so
than maybe any of the others. I just throw Trump's out because
whatever, they're all ridiculous.
But like the Main Street versus Wall Street thing, it just, it,
it seems so tone deaf. Like at least from what I'm
reading. I just saw a like a Minneapolis
Tribune article about how small business just shut down because
they're not going to, they can't pay the tariffs.
That's Main Street right there you're talking about.
I'm seeing lots and lots of those stories.
And Ackman tweeted about some coffee company, right?
Same sort of thing. Where is Main Street winning if
the stock market's going down tremendously and the cost of
goods is going up tremendously? I don't know so.
Yeah, felt a little tone deaf and he he had been better than
that. So that was a slip up.
If they're going to keep going that route, like, OK, tell us
more. And like a tax cut isn't going
to help that either, right? So it's unclear exactly what the
solution is other than trying to get these trade deals or
Ackman's idea of 90 day postponement to at least buy
these businesses some time. You know, I don't know if it
solves the issue or not. Logie, you're somewhat active
trader. Are are are you looking at any
DCA's? Does anything look attractive to
you at any of these levels? I'm just buying, I'm just buying
Bitcoin weekly. I'm nothing like crazy, you
know, like I'm, I'm not throwing like heavy, heavy stacks at it,
but just continue to dollar cost average like I've done for a
really, really long time. It feels like the most
comfortable thing. And as Mando noted, you know,
I'm an even worse predictor of, you know, 24 hours a week.
And no, it's not my thing. It's not going to be my strong
suit. So I'm just going to, I'm going
to add cash to what I feel is the best long term bet here.
And to me that's, you know, quite obviously Bitcoin, not
financial advice, but you know, that's what, that's what I'm
buying. That seems a decent strategy.
Hype. I got to say that hype is
strong. It's the top all mover today.
We had a fairly, I had a bit of a deeper conversation with OSF
about it yesterday. He shared his thoughts.
He leans a little bit more bearish on hype specifically,
but it's now back. So it hit that $10 level.
I think it went into the nines. Yeah, like on Sunday night.
Now back at that's the way at the level of the exploit.
So it's back to 13. So this is an interesting one.
I have not pulled the trigger back in yet, but it is clearly
showing some strength here. We talk about far coin everyday.
I don't know that we need to really go deep into it.
Today it's a 576,000,000, which is just wild.
Again, I don't know if you saw this while you were away from
the screens, but basically amidst the the sky falling
crypto sell off Sunday night, Black Monday turn around
Tuesday, then the bond markets breaking last night.
This this this token is holding incredibly strong.
Really never went below 500. Yeah, yeah.
To me, this is a little bit of that second leg of its potential
narrative. Everything else is complete
garbage. Then he got kind of fartcoin,
you know, like it's like everything, nothing matters.
Fartcoin Like that's a. Little bit of the financial
nihilism. Yeah.
Take there. I do think that is kind of a
part of it like if the Sky's falling all of these, all the
good tokens are going down, why not just throw it in a fur coin?
I mean, ETH has been ETH was at 1390 yesterday.
That was the 13 handle was was tough to see.
Is there is there a price or you're thinking about switching
that DCA over from from Bitcoin into ETH?
It's been that price for a while it feels like and I've just
never done it. Thankfully all these prices to
me for Etherium are, are sort of jarring.
You know, I don't have a the bulk of my crypto experience,
although I did participate a little bit in 2017, 2018 and
stuff. The bulk of it comes pre 20, you
know, 2020-2021. And so my anchoring for price
points for Ethereum, there's not much of A history in context for
me below like $1500, you know what I mean?
So all this stuff is quite jarring.
I still just it is the rails for so much stuff, you know, I mean,
if, if things really play out the way that I think a lot of
people want it to play out in crypto, which is tons of
adoption, millions and you know, maybe billions of people using
crypto like Etherium almost has to play a role in that.
It feels like, feels like it. I'm not suggesting it really
will, but it it does. It's difficult for me to see a
world in which there are billions of users participating
in crypto and Etherium is not one of those like key
contributors. But of course that doesn't mean
that it the price has to go up so.
I guess it, it is a tough one. I, I am aligned with you
conceptually. I just like if crypto wins,
Ethereum wins, right? I think it's, it's a, it's in
right after Bitcoin, it's the next part of the conversation.
And from a utility standpoint, it enables more, right?
But my God, it's a 1490. Like this is this is barely
above the levels When I started buying in December 2020, I got
in around 1000 to 1200. And I mean, it was 4000,
December 16th, 2024. Like that is jarring.
It's down from 4000 to 1400. I mean, there are there are shit
coins down less than that in in that time frame.
So I don't I don't want I don't mean to harp on this.
Everyone knows ETH is down bad there.
There has to be a level where this flips to a buy.
I don't think it's going to 0. Let's move on.
I think there is another hot token Logie.
We were trying a little bit about this before the show saw a
tweet from D Gen. apes may know him from he's a bit of a trader
he's deep in fantasy top. He was talking about this prompt
token. It apparently prompt is this is
the wayfinder team token is it is trading on a pre market
somewhere. I don't know that this has been
broadcasted very widely. Why don't you tell us a little
bit about what you had a chance to to look into here?
Yeah. So what you're seeing if if
you're taking a look at the screen, you see the DJNA tweets
he points to, they point to a pre market from Mexi which does
not have a ton of volume. Yeah, about $45,000 worth of 24
hour volume. But it's, you know, similar in
nature to the pre markets we've seen from Wales app and and
others previously. So not a ton of liquidity, not a
ton of movement, but there is a price point at which we can at
least start to discuss for prompt and based on what we know
from the OK X announcement as well, a 1 billion total token
supply. So you see $0.65 was the time of
his tweet, I believe before the show.
Tyler, I sent it to you. Might have been closer to 8
cents. Sorry, not $0.65.
Six cents. Yeah, 6 1/2 cents.
It was closer to 8 cents when I sent it to you, which would be
about an $80 million FDV if I'm doing that math right.
Which of course, based on our conversations and disclaimer at,
you know, I'm a prime casher and I'm expecting to have some sort
of AirDrop here. Feels low or lower than maybe I
was hoping or envisioning, but we'll have to, we'll have to
wait and see what the the market truly brings us unfortunately.
And I don't think Kalos and you know, based on that conversation
we had last week, which we encourage people to watch to get
a better sense of what this actually is, they just seem like
builders, man. They, you know, they're just
like, this is revolutionary. This is going to be impactful.
We don't really give a shit about the market type thing.
It kind of felt like Garga ape esque in that way to me, which
which I like, I like to hear. It's just it is rather
unfortunate that there were very much pockets of time in which
this could have flown out, you know?
Here's. The thing kind of at the mercy
of others. If, if it opens at $70 million
FTVI, I'm, I'm buying probably a lot like this seems to be the
best crypto AI product that we've had today.
And if, if it, if the best crypto AI product we have to
date at 70 million is a bad trade, then I'm just going to
have to eat that. And Logan OSF actually he pulled
me up a little bit. We talked about the AI trade for
about 10-15 minutes. So he he's been DC ING back in
pretty much with the core thesis that AI is is the the of course,
like the biggest theme in the world.
It's coming back like there's going to be another crypto AI
meta. It's just a matter of trying to
predict who the winners are going to be.
And he's got his chips in on AI16.
ZI think putting your chips on wave Finder and prompt it's fine
I guess better than fine. I mean I think it would be one
of my top picks. But at the same time I guess you
can make an argument that if prompt is so good, why isn't
prime trading higher? So prime at 100 million market
cap 350 million FTV. Like it can can prompt flip
prime. Why wouldn't it?
I I don't. It's difficult for me to see a
world where it doesn't. That's a little shocking to me.
Of course, you know, this is the the way that I am Hope, you
know, hopefully earning prompt is via the cashing of Prime, you
know, so I've been buying and or had prime Jesus in the $25.00
range. Feels bad to kind of look at
this after that. Yeah, yeah, I don't stuff I to
be, you know, quite transparent. I've not looked at the price of
Arc AI16Z and I don't even know what are those at right now.
Are you sure you want to know? Yeah, sure, I don't own them so
it won't feel quite as bad. So there's four tokens over 100
million. Now.
Alchemy is a very volatile one. It kind of it flipped, like some
days it'll be up 3040%, it'll be down 50%, other days it's now
#5A IXPT is 6 at 61 million. ARC is oh boy, 30.
Jesus. I was buying that at 400 million
when we thought we were starting to turn around after the the
first dips post Trump coin because it seemed like it was
going to be a winner. Unfortunately it has not been a
winner over the last few months, but to me it was put four coin
aside because it also doesn't really belong on the list at
this point. I think it could be the number
one. I think prompt could be the
number one on this list. I, I definitely think it could
be I'm, I'm certainly rooting for that.
Even what we've seen in just the, the small samples of early
access, right? Whether you saw it on the stream
here or you've been following their Twitter account to see
those like in terms of power and advancement and realness, I
don't know what the best way to characterize it is, really.
But like, this is something a bit different than AI16Z, you
know, and that's not to knock any of those, but it's, it's
different than those things. And it's certainly different
from many of the social agents, which is what, you know, Adrian
had called them on the stream we had.
It's certainly different from many of the social agents we saw
that were just replying to Twitter, you know, 0 bar things
like that were just replying to tweets.
So it would it would not shock me to see it really actually
come out of 70 million. It would be well below my
initial expectations. But just this market, I mean,
come on, man, it's, it's it's tough like what, what are you
going to do when stocks are falling like 1520% over the
course of a couple days or even or more like it doesn't, you
know, the brand new AI token deserve to be more than 70
million, like maybe not whether that you know, whether that's
fair or not. So.
I mean, if you're a believer, that could be the best launch
scenario. Everyone wants like the big
AirDrop, right? But I feel like that also
changes your mindset like when a token opens up high and you get
a big AirDrop, you're incentivized to sell and then
you're almost kind of rooting for it to go down because you
want your cell to have been decision and you're and you're a
bit conflicted versus the tokens that come out lower.
And then everyone gets to rally around it as it continues to to
March up. To.
A more true value and more of the true values of any of these
things. It, it is a tricky launch market
for sure. But, but I, I think this, I
don't know that this is a team is going to try, try to time it
right. Like clearly if that's all they
cared about, they would have forced the launch back into the
bubble and it probably would have gone straight to 1,000,000.
You would, yeah. You wouldn't have asked, you
know, to go way, way back here. They asked the community when
the community wanted to launch the token when the TGS there,
there's a, there's a Dow vote for this.
And unfortunately, what they had to extend a week or two to make
sure things were right, which, you know, stinks 'cause it
didn't uphold the, the vote, but also to ensures that there was
no complete catastrophe. So I'm, I'm OK with that as
someone who's expecting, you know, some level of AirDrop
here, but they put it in the community's hands.
This wasn't a, you know, we're going to rush this thing out for
ourselves to enrich ourselves or, or anything like that.
So. Yeah, well, we'll certainly see
what also caught my interest in that DJ Nate tweet.
I'm not going to go back to it, he said.
We'll find out tomorrow. So I don't know anything about
tge coming tomorrow, folks. I don't believe that has been
announced in any capacity, but that would be a fun Thursday
surprise. Well, the settlement for the pre
market on Mexi says something like yes, April 10th and then I
I don't know, I don't want to say confidently because I've X
out of the OK X thing. There was an announcement of
course of this will trade on OK X.
That was retweet. Yeah, right there.
I don't want to say confidently that it said tomorrow but I
believe like the trading starts soon ish.
As well. So that's A at least a good
place to start if you wanted to get some more information.
We know it's soon, we know it's sometime in the next 7 days.
So tomorrow very possible. We will certainly be looking for
it. I want to go around the horn.
Another couple quick stories on things that could be a buy along
this. So you may have missed this
Logie or maybe you caught up Blockbuster acquisition
yesterday, Ripple acquired Hidden Rd. for $1.25 billion.
Hidden Rd. one of the the bigger institutional payment clearing
houses, they clear $3 trillion a year in transactions.
So Ripple kind of becoming a force here.
And that inspired Standard Chartered to raise their price
targets. So they're now projecting the
XRP could jump 200% by the end of this year with a $12.50 price
target by by 2028. That is a 6X more.
It's like $1.75. It's probably closer to like an
8X from here. This is dollar 80.
Curious, any reactions or has buying ripple XRP actually ever
crossed your mind? And second part, should it be on
your mind? It's crossed my mind from time
to time and but not, you know, not for any real like
fundamental reasons, you know, more so like narrative reasons,
bull market reasons, those types of things.
I think this is, I think it's interesting mainly because if
you do start to see a narrative and sentiment shift and you do
get the people on Main Street, you get the, you know, the more
casual crypto investor feeling like crypto could go up soon,
which they probably don't feel right now.
Ripples, one of the best bets in those instances, right?
Those scenarios like it it goes up when people are feeling
really, really bullish and crypto starts to gain more
attention overall. That's where it's been like a a
really strong. It's not like a super strong
thesis or anything, right? It's like largely anecdotal that
I'm, you know, providing evidence for.
But why not? I, I'd think about it, yeah, I,
I, but otherwise. Discrete crypto token then then
ripple. I don't think so.
That's that's what I mean. Like if Ripple is.
Nice, right? Yeah, if, if, if people are
starting to feel like this is going to happen, there's going
to be, you know, I don't know, crypto advancement.
I don't even know what the right way to say it is because it
doesn't feel like it's coming. That's, that's the second part
here where it's just one of the reasons I'm not, I'm not too
interested in buying anytime soon is like the turn around and
the sentiment shift that I would think precedes a ripple rush
upwards. Doesn't feel like it's coming
anytime soon. That's that's what I'm I'm
getting at I guess. That's fair.
And there's probably a few other assets that might run first.
What I will say is I feel like, and I I've never held Ripple or
traded it. I think there's the criticism
that was more fluff. There wasn't a whole lot behind
it. Now there is though.
It's like, it's like I said this yesterday.
It's almost like becoming to fake it till you make it play.
And if they have enough capital to to acquire these actual
powerhouses, you know, maybe the fundamentals actually start to
be there. So that's going to be an
interesting one to watch. And the other one is Coinbase.
Coinbase is by Cantor Fitzgerald, Howard Lutnick.
They're calling Coinbase stock overweight, but they actually
the headline might be interpreted the wrong way.
They're calling it a buy and they pointed to the relationship
with Circle and Basses out performance as some of the
drivers curiously. Any quick reactions to that?
If Coinbase feels like a buy here or not?
Yeah, I love Coinbase, the brand.
I'm a I'm a user. I know it gets a lot of shit for
more active on from. Sorry, more active on chain
participants, but I think this is one of the most important, if
not the most important brand for adoption and to act as an
ambassador for crypto in its best interests, not only as an
ecosystem, but the best instruments of its participants
as well. So I'm I really like Coinbase,
of course, you know, I can't comment too much on the
financial stuff just because I don't know them.
So I would defer to the analysts, of course, but by all
means the innovations required to advance alongside crypto,
create your own L2 stable coins, all that stuff.
They've been every step of the way.
They've been right there. So I would not bet against
Coinbase if you believe in a future in crypto.
And I think many of us here, we wouldn't be here otherwise,
right? So I'm, I'm, I'm totally on
board with something like this. It's an interesting 1.
I feel like in my opinion changes almost by the week, by
the month. Like one of the bull cases that
Kenneth Fitzgerald laid out is that relationship with Circle
and the large fees they get. But we also just saw Circle
delay their IP OS. Yeah.
In reaction to the FUD they received when everyone found out
that that Coinbase makes more fees than they do.
So like that, that fees switch might or that fee revenue could
be going elsewhere. I think the really difficult
part about crypto stocks is they just feel like too much.
They feel too much like proxies to crypto and you know, and, and
so like, why not just buy Bitcoin?
Why not just buy whatever you know, And I, I don't have a
great argument for, I don't, I don't know what the best
argument is to dissuade somebody from like, you know, of course
there's opportunity cost involved when you're buying
Coinbase versus buying something else, anything else, whether it
be crypto or not. So I'm not sure what to suggest
to someone if they were looking to have that argument answered.
That would be my, yeah, my loan issue here.
Yeah, As I'm looking at this, it's kind of a question like, so
Coinbase is basically off 50% off, off high.
So it hit 300, it's at 150 right now.
Do you think it has a better chance to double and get back to
all time high or Bitcoin? It's like an interesting.
It is trade right there. I have no reason, I don't have
any really strong reason to suggest this, but it feels like
it would be easier for Coinbase. I don't know why.
Maybe even just because the it's been like 100.
Yeah, it's been there. And also like 150 K Bitcoin just
feels yeah, never been there. I mean, it just doesn't feel
like it's possible. It's hard to lay off the past.
You know what I mean? Right now on April 9th amidst
the the tariff trade, trade war, markets melting down, unless
Bitcoin really pulls through that digital gold narrative,
which we haven't seen yet. And maybe we'll have to say that
I know our our buddy Bob Lucas had some comments.
We meant to save those for tomorrow.
It's a longer conversation. I did want to catch you up on
one big storyline that that's taking place while you've been
gone is we are bringing extinct back from the dead.
So I'm not sure if if you're aware of this, but the
direwolves are returning, but also Biosciences is leading the
charge on this and they are taking extinct breeds back.
And I don't know that the full vision for this if it's just
going to be like museums or like zoo, museum, hybrid or exactly
what their plans are. Of course, the meme corners ran
with this, which is a part of the story here.
But Romulus and Remus first direwolves in 10,000 years.
Any quick reactions? I think this is really cool that
this is an option. There's so many second order
effects I don't even know. And, you know, having done this
now in an administration that like, you know, hands off, no
rules type thing, who the hell knows, You know, what may come
next. I saw a lot of like Jurassic
Park memes alongside this. It's non 0.
It is non 0 which is a little scary but I guess if I had to
choose, like if I had to choose Jurassic Park versus like major
war with China, which also, you know, who the hell knows, I
think I'd probably just pick Jurassic Park.
I'm picking Jurassic Park 10 times out of turn.
Those are the options. All right, folks, we, we went
around the horn. We've covered most of the
topics. We've got one more more special
topic here to get into before we end the show.
Sadly, Mando had to run, so he won't be here.
He'll have to catch us up once this all becomes a little bit
more official. But here at Foam Ware, we have a
new show partner announcement. Do you Sam's?
That's two days in a row now. I've been on this show, guys.
I've start making it a normal, a normal thing when people are
out. So yes, we do have a new show
partner. Unfortunately, Mando can't be
here to announce it. He's had to, He's the number
one. He's had to be called to the
ranks. So he's going out there and
working away. But we want to say a massive
thank you to Robert, who have been incredible partner for the
last few years. They've been amazing, but we
will be moving over to yeet now. You have seen there has been no
code the last few days just because there's no actually the
meme no for no code. No, that's not the case.
We still do the codes. We still do the stuff when for
Oaks away, Don't worry. We're going to be changing the
system. We're changing the sponsor,
we're changing the system. There won't be a code going
forward anymore. We're not going to be going with
that system. Instead, you will need to sign
up to YEET using the referral code, Formal hour.
Once you go on to YEET and you use a profile and you need to do
it within 24 hours, very important.
You add formal hour as a referral code and you will be in
the system. That means every single day when
we do the spins, we're doing 1000 sort of a spin anymore,
excuse me, We're going to be playing custom games where
people could win a minimum of 1000 up to quite a lot of money.
So there'll be 5 across the week, Monday to Friday, and
we'll be doing all these different games with people
getting them involved. You'll still have to come up on
stage. That's how you claim the prize.
You need to be on stage to do it.
So we're still going to continue this, but we will be picking
winners from those that have the referral code that we can see in
the back on yet. That's already linked to formal
hour. We're doing a spinner as normal
and it will go down from there. I can see people saying there's
a waiting list and various other things.
Yes, it's not live yet, but we're just making you all very
aware that it will be soon. When that is, keep an eye on the
Twitter, keep an eye on Mando, watch all that and make sure
that you use the referral link formal hour.
From there, that is where we'll be picking the winners to bring
them up on stage. So you won't have to put in
codes, you won't have to be doing retweets.
You don't have to do all this. There will just be across Monday
to Friday 1 picked through a normal raffle type system.
Pick them in. You still have to be on the
space. It's really important.
If you're not on the space, you can't come up.
You can't claim your prize, bring you up, do this whatever
game we do from there and see how much money you win.
It's really as simple as that. But yeah, new, new sponsor, New
Times. I suppose for the first week,
we'll get used to how it's going to be going.
We, we took a while to get used to our spins on formal hour.
Yeah, excuse me, not formal hour with with Robert.
It took a while to get there, but we did get there in the end.
I'm sure this will be the same and I'm sure it'll be pretty
damn fun. I've tested the website myself
and it's absolutely fantastic. The the custom games are
interesting and if we'll we'll play the trailer again at the
end. You can have a look at some of
the the different custom games that you have on there.
We'll be rotating them day in day out.
So some people will play one game one day, some people will
play a game another. We'll have a minimum win amount
that people will be able to take away at the end of it, even if
they don't win big. We'll have a minimum booby
prize, if you will, whatever that is, 255 hundred, I don't
know. But yeah, there's there's some,
there's going to be some odds to win some serious cash on the
line here. Nice.
Well that is very exciting. So I'm definitely very
interested to see all these new games.
I've gotten a glimpse of a few. There's some good ones out
there. So I think I think our listeners
and audience are going to love it.
Do want to thank Robit, incredible partner and they've
been our our show partner since I joined the show but last May.
So very grateful for them. I'm also very excited for this
new partnership with you. So this is going to be a fun one
for sure. And since do we know when we're
officially kicking this off? We're gonna be officially
kicking this out of shirt off from today, right?
But when the the actual spins or whatever, we keep saying spins.
It's not spins, but you know what I mean.
The prizes and the giveaways will start from Monday keeping
eye on the Twitter and keeping eye on the formal hour Twitter
for the video going live. Once they are live, you know
that it's live. Go sign up using that referral
code. Formal is super important.
That's the key to entering now. You don't need to be putting
codes and you don't need to be doing retweets everyday.
You need to be going to you need to be signing up with formal
hour. That needs to be your, you know
in the referral codes in there. You need to put that in.
You only get to put one in. You only get to do it once
within 24 hours of making account, make the account, punch
that in and then you're going to be in the in the drawer every
single time. But you just need to be
listening to the show, obviously, because if we if we
do your name and you're not there, you're not coming up.
Got it. Now you know folks.
So starting next Monday, so new games on the show.
So very exciting, Sims, thank you for that overview.
And we'll play the video again as we exit.
That is it. That is going to be our show.
I want to thank our listeners, as always, want to thank our
partners. Thank my Co host Logan.
Thanks for jumping in here live from Peru.
We will be back tomorrow at 10:00 AM Eastern.
Until then, go make it a great day.
Bye.