Yo-yo, yo, what up, what up? Good morning, good morning, GMG
Thursday, January 16th, 2025. Dude, look.
At. That another beautiful day to
have a beautiful day. I got my coast in the house.
Tyler Mendo, Good morning. Good morning.
How you guys doing today?
Fantastic man, how are you? I'm doing fucking great.
I'm doing great. I I kind of want to fight Ovi.
Me too. I'm doing a partnership with
Crypto Fight Night with Hong Kong and yeah, because, you
know, they partnered with us in Miami and we're partying with
them in Hong Kong right now. I had a call with them last
night and and I kind of want to fight him.
What do you think, Tyler? I mean, you're too big.
I would never like see your your mom.
I think he deserves it for for some of his commentary on the
timeline. I think he deserves an ass
whooping. I I offered him to come on the
show to fight right now and he said no, but he'll come
tomorrow. So so all he's got this like
other spaces going on. But you know what's?
The beef What's the beef about? He's tweeting again about some
fart coin and SBT shit just now like 5 minutes ago.
Just. Go look like get your fucking Co
founder in order dude. Like dude you should go read
what he just wrote. He's now comparing mindshare of
fartcoin and the XBTI. Kid you not and not mindshare
Google trends and and and then Tyler corrected him with the
only country that matters, which is America.
The only country that matters is the USA in this in this in this
industry clear. I mean clearly the market does
not lie like the SEC we saw the news this morning I mean we'll
get into that right but but yeah, get your boy get your boy
He just what did he say He just texted this would yeah, I saw I
told him crypto Fight Night he go this would do numbers.
The thing is he's got like 4 fights under his belt.
I've never fought in my life but fuck him up Obi don't don't tap
me with a good time. I've been working out.
I'm pretty like, there's a lot of muscle in this oversized
hoodie, All right? Yeah, Mando.
I don't know, dude. So his take is that that AIXPT
can flip fat coin. Is that the right?
Is that what you said? He he made a whole like this guy
wrote a whole thesis 4 part thread on that and then this
morning he wrote worldwide Google search transfer four coin
versus XBT. I'm not hating on those who like
to fart, but I think you're all underestimating Ronnie retail's
desire. So he believes that Ronnie
retail buys AXBT because there's the term AI in the name and
literally the guy who invented Ronnie retail for NFTS, Gordon
Garner explained to him why he's wrong.
So I don't know I. Look, I, we had a conversation
this morning right about how I, how I look at stuff right now,
which is almost AI stuff. The first stuff to run was the
memes. The second stuff to run was the
infra. And the third stuff to run has
been the applications and my, and what we've seen is the the
memes of have rallied and then they've kind of gone, they've
kind of gone broadly sideways or a little bit lower even like
coasts gone lower, right. Then you have the infra, which
all peaked probably about two weeks ago, it felt like.
And then if the memes peaked a month ago, right?
And the, and the infra peak a couple of weeks ago.
Now everyone's trying to pump the application.
So you've seen the they, how you're saying this, how you say
defy. Defy, defy, defy.
What is this? Defy.
OK, there's.
Many reasons today, this is one of them.
OV and this fucking defy term. Defy.
OK. And then And then and things
like a XXPT, you've started to see somewhere like the metaverse
gaming stuff I think is starting to move into this space.
You said that's when we had the Woot band, you know, whatever
that was called again. Games.
What was that? Games, yeah, Where's that?
I think some of that stuff you. Did you?
Did you both did but. I think what my honest, my
honest opinion is that the market, the market wants to pump
the applications the most right now.
So I would be very unsurprised if AOXPT flips fart really
unsurprised. It's also on ETH.
So like, but, but I think what
you should maybe look to do is think about those three things
and think about where you if you want to have bags in either of
them, like you have have a bag for the means, have a bag for
the for the applications of which is like Griffane, there's
AXXPT, there's maybe hype hyper. Was it that coin?
There's hyper 5. There's like a there's so many,
right? Yeah.
And then have one for the info. Listen.
Go ahead, go ahead. I was going to actually like get
to the top. Let's go ahead, go ahead, Tyler.
And then I'll I'll get to the intro.
I realized the intro, the show. I think if that's how it plays
out, man, no, I actually think that's a net negative for the
whole sector. I agree the.
It means of topped infra has topped and now we're in apps it.
It's a bad comparison. It's a bad, you know, can't
compare means and infra and struct.
It's it's a XBT and FAR coin, not a XBT versus FAR coin.
I I'm not saying it's not, I'm just saying that that's how I
think the market is what it's now trying to pump is that stuff
and I think all this space can go higher, right.
But we what here's what happened.
We had the memes and then they they all kind of topped infra.
How many marketplaces were launched in the time of virtual
like everything was trying to be infra and now everything is
trying to be applications. And I feel as though that's what
the market is trying to pump like all the default.
I don't think I've actually seen anything that innovative now
from all the different deep for five things.
So we're kind of counted the same.
I bought a new Ponzi last night and apparently it's the next
Griffin, but that's about it. Anyways, so anyways, yeah, I
texted. OK, so listen, I'm talking a lot
of shit right now. You should come on.
You should try to come on tomorrow.
But anyways, to have the show, Oh my God, this is so funny.
Sorry guys, this is just so funny.
It's been it's been funny all right to the other show.
What are we going to talk about today, boys?
We're going to talk about the market, but there's not much to
talk about. We're going to talk about let's
let's pick some fun topics and go on about him.
I know we had to put a lot of stuff behind yesterday from from
Tyler's topics and then another robit loot box pins for y'all.
So let's see what you guys we're do man, I'm I love red guy, I
love rug radio, but I'm tired of seeing red guy and rug radio
wins. All right, robit, it's fucking
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tomorrow. But anyways, with that with that
with that Mando, I'm just going to pass it right back to you
who? Is the man's macro daddy of the
land? Yeah, so we were very strong to
finish yesterday. Bitcoin went above 100K briefly.
Solana and XRP have been the real gainers.
Today. There's some talk, I don't know
if it's just a throwaway comment, but but Trump was
talking about a reserve for US based assets of which XRP and
Solana and USDC were mentioned. So you had Solana pump, you had
XRP pump. XRP is continuing to near eve in
terms of FDV here. To put it in perspective, the
ETH FDV is at 395 billion and the XRP FTB is at 325 billion.
So there's, there's only 17 billion between them right now.
So if you were to see a 10% rise in XRP and a 10% fall in in, in
ETH XRP with Flippy or roughly around that level.
So kind of a crazy move there. I don't know, Ether's obviously
based in Switzerland. I think the foundation right and
or like you said, metallic is a Russian Canadian.
So it's like difficult to work out but not being classed as US
despite obviously a lot of US builders on east it yeah,
everyone getting bullish on on on those assets kind of we
ridiculed a little bit entirely yesterday, but he just bang on
like it does feel as though US number one baby anything US
anyone. USAI.
Thought that was just kind of like a base cop.
It doesn't seem to be taxes. It just seems to be like we're
going to we're going to make sure these guys are the winner
sort of stuff. So interesting to see that
narrative. Have anybody seen it with XRP
and and now Solana Ada had a bit of a, a, a, a bid for that, but
no one seems to care as much about ADA, it feels like
compared to the others. But that would be pretty big,
you know, if Solana becomes this like Usus blockchain alongside
XRP. And that could be a reason
honestly for it to flip each. Like maybe I'm late to that
narrative, but I I thought the XRP bid was really more just
about like retail coming in and pumping something.
There's not much going on XRP, let's be honest here.
What do you mean if it's going to get like if there's if
there's going to be a huge amount of of institutional
adoption basically pushed by Trump, then then it could, it
could be bigger than than we think it could be here.
And maybe, yeah, maybe I was wrong, wrong all along to fade,
fade the XRP rally. So I much prefer Solana because
I think it has, if it's going to be AUS, if it's also going to be
US kind of promoted and it has all this other stuff going on
and it's tangible right now, then the fact that it's a third
of the market cap of, of XRP seems kind of crazy.
But yeah, super bullish. We on the back of that we kind
of saw a sell off in in ETH based stuff.
Interestingly, we also saw a sell off in like Solana based
stuff too. It felt like mainly because
people I think were swapping back into Seoul and I think that
got people very bullish on, on maybe owning the base assets.
So if you're in JLP, you're having a good day.
But if you're if you were in Solana alts, I don't think
necessarily you've had like the best, best day.
Even with this bullish news about Solana, we saw the AI
agent market cap rebound 60% in two days.
So up to just over 18 billion. I don't I don't know if that was
all time high, but very close to it.
The leaders, if you go back, the leaders have been these
applications. So like it's been Griffane, it's
been a XBT and then you, I guess the only other one was been Ark.
But Ark, as we said, has announced this, this, this first
handshake of a project. All the other Defae coins Defae.
No, no, we're going to call it AI Fi on this show.
There's. Just OK, AI Fi, all the other
AI, all the other AI Fi names of all of all basically hit all
time high yesterday. Like every single one of the
ones I looked at was like, yeah, all time high, all time high,
all time high. So that's that's that's
seemingly where people are like focused on a little bit more
than than some of the other sectors of of AI right now.
Yeah. So this felt like a a very
bullish day. On the back of that, there's
some other smaller stuff like microstretchy's going to buy
another 2 billion. I don't think that's really a
surprise to to anyone at this stage.
You had hash key saying Bitcoin is going to 300K in 2025.
It looks like Bitfinex. Bitfinex was this famous hack,
right? They're getting back 80% of the
Bitcoin that was hacked. I just watched a documentary on
Netflix Razzle can there's a did you guys see?
It. It just came out.
I haven't seen it but it's a crazy story.
It's a pretty cool. Document and then you had Texas
and Oklahoma both introducing Bitcoin Bitcoin bills in terms
of macro yesterday stocks had a really good day.
So if I'm just going to focus, I know maybe I'm taking some stuff
from Tyler here, but stocks had a really good day.
It was the best day since the election actually for pretty
much every single stock index. Remember the S&P had given back
all of its post election gains by Monday.
So kind of a crazy move there. But yeah, we saw a very, very
strong day on the back of that CPI figure.
I don't think we're out of the woods for a macro perspective,
but I think as we suddenly show yesterday, it was enough to
everyone to happy to keep gambling.
I think for the next three weeks or so, I think every single data
point is going to be it's going to be very important now, way
more important than it was last year.
Like when I thought it was kind of ridicule before, you know,
last year when it was like the most important fed of or the
most important NFPS or this sort of stuff.
I do think these ones could be very big.
They have a huge impact on on crypto here.
I think there's just much uncertainty around what are
Trump's actions like, what impacts are they going to have
on markets? And those are our primary data
points I think people will point to that may know you may not
have seen this because it just came through.
It looks like the one of the Fed leaders, Waller, I was making
some comments this morning, sees three to four rate cuts this
year as possible. If good data comes in and
doesn't think a March rate cut can be completely ruled out and
if more good data like this comes in, talking about
yesterday's CPI, reasonable to see rate cuts in first half of
the year, I think that's the best.
I mean, that's positive news. We hadn't talked about this a
little bit. Is like Powell turning hawkish.
He also said if you listen to the whole thing, there was
nuance. He said we're going to read the
data and see how the data comes out.
And the first data period of the year was good, right?
So if he continues, he seems like a a man is going to be
changing. He's not afraid to change his
opinion or direction based on, you know, what the inflation
data is saying. Yeah, I think really what the
Fed said in December, it's going to be data dependent.
They basically stopped giving a saying, yeah, we're going to
start cutting rates and they basically said, look, from now
on it's going to be data dependent.
So if that data is does continue to show like inflation not so
bad, then they will cut rates. They're high, you know, rates
are high right now. So they they have some room to
cut. Does anybody still want to own
ETH here? Like I'm, I'm sorry, I, I, I,
I'm sorry to bring this back to this conversation.
It's like I, I see like, you know, ETH is king.
Everything else goes up for Oak's ass in the comments.
Quack, quack. Fuck you epic holders.
And I'm kidding. But you know, I dude, and people
are saying, yeah, Trump is bidding.
First of all, Trump is not buying any ease.
His team is buying ease with the worldly bid fight, which is
actually a ease project. True story.
But clearly XRP is America's coin.
I don't even have any XRP. We missed the whole we, we
missed the cycle trade. Yeah.
Mendel perot Tyler keyboard monkey DS fucking you name it OV
your favorite influencer trader mane, the holy haven
motherfuckers Persian trader all y'all we all missed it floor
horse. I don't even name it.
You know even the fucking Eugene guy everyone we all missed it
Rita America's coin crypto made in America.
I mean, someone just commented something saying USA is such a
bully. Basically they're saying
whichever coin is made outside USA is illegal.
You know what? They're a country.
Do what the fuck they want, you know what I mean?
Like Solana is made in America. You know, Raj out there holding
fucking big guns with his big guns.
That's my founder right there. Meanwhile, Vitalik is adopting a
fucking hippo in Thailand. What do you expect?
What do you guys make of that?
Tyler, you're you're Mr. America on this show.
I think it's a big deal and we're going to continue to be a
narrative and like we say it all tongue in cheek and we're
laughing, but. I'm not really laughing.
He is a simple guy. He wants the American companies
to succeed. He said as much and I think
there's probably something like is Salama actually American made
like I saw it's headquartered in Geneva I think, but the Salama.
They're all in Zoog. It's all Zoog Every.
Even the Ethereum Foundation, XRP, Cardano, maybe not
something, but everyone, everything's in Zoog.
There's 1500 crypto companies out there.
It's tax. Coming back to your point, it's
like ETH versus Sol and I'm not here just to rag on ETH, right?
But like Mert shared the Solana bull case and like I've been
talking with friends about the Solana bull case a little bit
over the last year. He lays it out pretty well.
So we, we knew Fire Dancer was coming.
One of the newer things that is now on my radar, maybe it's been
out there for a while is they're talking about reducing the
inflation. So, so changing the token unlock
schedule. So that's another potential bull
case you've got, you know, everything else in their
ecosystem which has already been doing well and continuing to
have momentum and continuing to grow.
So Solana had I think that the largest increase in devs year
over year of the major block chains and of course meme coins
dominates on Solana. And now AI is also leading on
Solana and now you've got this potential in ETFs.
We've already knew that, that known that ETS were likely going
to happen under Trump administration in 2025.
And now you got this whole American crypto reserve thing.
And, and maybe that's totally pie in the sky, but no, it's,
it's a good, it's a good narrative.
And if you're talking about which major to buy and you see
that Ethereum is 4X is expensive from a market cap standpoint
and. And they're effectively even in
a lot of the the key metrics, I don't know, I think I liked a
lot of more. You know what else is made in
America? Far Coin.
Well, fine, Decrypt Marriott, I'm just saying Decrypt is one
of the last, last media companies standing in crypto,
made in America, you know, I'm just saying made we're Delaware
Corp. I'm just saying.
I'm just saying, you know rug radio, Dustan, Dustan.
You can Google it. Dustan Inc, parent company to
Rug Radio, The Crip, Lucky Trader, D Jams and Myriad is
Made in America. We're all not in Cayman anymore.
Is that what? We're saying my CEO, my the
foundation is separate. I'm not the foundation.
You know, I love this.
I love this. Yeah.
We're American. We're American.
We're always American. You, you you.
You don't understand, you know we're America.
You, you don't, you don't get it.
We're the biggest media, the largest media.
We're made in America. My CEO is from Texas.
It doesn't get more American than my CEO being from Texas.
Make media American. DJ Inc was was American based as
well. American based.
I'm basically American here. You're basically American if
you're basically American. So I'm just putting it out
there. You know, Marriott is prediction
markets made in America for Americans and also the rest, all
right? And we're not.
For Americans, dude. Never mind, never mind, never
mind, never mind. Myriad Markets is a prediction
market made in America but geofenced in America.
There we go. But I get but but to that point,
right, But but hold on to that thought, right?
Let's just now be more serious. Why are we Geo fencing and why
are all these crypto companies outside of the USA?
And why I like what Trump is doing is because that could
change right? Because with the right
government in place, then all these crypto companies have had
to fight America are come and come back.
So I'm super bullish actually. And actually, I'm pretty sure
Gary Gensler's ass was bull posting fucking prediction
markets yesterday, right Sims? You sent me a video or some shit
anyways for being Tyler. Mando grabbed a lot of these
headlines but I'm going to repeat them folks because you
may have missed this. Yesterday was such a busy day.
There were several macro pro crypto headlines pouring in on
the day, a lot of them tied to Trump.
So #1 The SEC under Trump is expected to revamp crypto policy
and may pause enforcement actions.
That is increasingly important as the SEC open their appeal in
the case against Ripple. Again, yesterday we had the, the
Department of Justice order the return of the $9 billion in the
bit Fenix Bitcoin folks. That's going to have an impact
on the strategic reserve if if that does get in place.
So there's a bit to unpack there.
Texas and Oklahoma introducing their bills for their own
strategic Bitcoin reserves and then Trump now apparently
receptive to an American crypto reserve.
So a ton happening there. We had MicroStrategy plan to
raise $2 billion through perpetual perpetual preferred
stock offering and then breaking this morning Coinbase bringing
back Bitcoin loans operated by this Morpho protocol.
So that's some nice functionality to return.
In token air dropping protocol news, Justin Sun is offering 20%
yield on Tron stablecoin USDD and saying people should stop
asking about where the yield comes from.
So don't ask, don't have sex with the robots and don't ask
Justin Sun where the yield comes from.
Solve is launching its token on Hyper Liquid and B&B this
Friday. Jupiter rolled out its AirDrop
allocation checker yesterday along with more info on its
distribution method. So I saw a lot of folks
celebrating those Juke tokens. Pump fund facing a lawsuit from
Berwick Law on behalf of investors who lost money on the
platform. And then Hyper Liquid, their
assistance fund crossed $100 million used to rebuy their
native hype tokens. So they are pumping it back in.
Folks in AI and crypto market cap up 20 percent. 18 billion
leaders up 15 to 30% day over day.
It looks like some of the the gains were given back here this
morning. Moby was a top mover.
It jumped to 100 million. AICC to accelerate.
Dow also jumped about 50%. Alchemy, buzz, chaos, all huge
winners. AIXPT soared to 940 million in a
smashing or $0.94 a smashing new all time high as it took retook
the number one mindshare spot. We saw Halloworld, the Ava team,
they launched their newest agent, Dwayne.
It hit 18 million in market cap. We talked about the AI16Z robots
yesterday, but they introduced their new humanoid robot.
Do not try to have sex with them.
It's meant to be a productivity partner and companion for users.
Arc announced a partnership with Graph for agent memory systems,
the hive. That's Your Buzz Token won first
place in the Salon Hackathon. They won $60,000 in prizes, but
that pale in comparison to their token soaring 45% to 115
million. The Function team in Jailbreak
came in second and third. Abstract announced an open
source repo for creating AI agents with long term memory
systems and then the Bullet team announced that it's the the
Dolan platform will launch on January 28th.
They also gave some new details about an NMT collection, the
Zero Bully NFTS and memes and NFTS quite that really across
the board. I think the meme point majors
though, they were very green this morning of about 10 to 20%,
so nice little rebound in those memes.
I love that love, love, love, love hearing all of that.
I think we're getting the the creator of this robots on the
show. No, I think you're, you're
you're working on. That just don't have sex with
them, all right, Just don't have sex with them, yeah.
Breaking it looks like we're going to have Eva.
Whatever you do. Fuck yeah, I can't wait.
You're talking about this? And like Schultz tweeted this
morning, so I think there were some questions about like, is
this a joke? Is this real?
He said. These are very real.
These are very real robots. I really gotta buy one.
You're the only person rich enough to buy one.
Creator herself tomorrow, so I'm incredible.
Except for. That one can't.
Can't miss FOMO hour tomorrow. I saw her just pop in earlier.
I'm I'm looking for her, but I know I know she was in here.
Listen to the show. All right, so I love that.
I can't wait to talk about this. All right, Tyler, let's let's
run through these topics. If you want, we can do the
Jupiter the Jupiter. News.
Oh yeah, we can do that. That was another it kind of got
buried because yesterday was such a big day, but a lot of
folks are going to get a nice little AirDrop stimulus here
from the Jupiter team. Yesterday they shared new
details on the distribution that they launched a checker.
I think it's Jupa Wary dot jupe dot AG is the link, I believe.
Of course, double check your links.
It seems like, oh, there's different tiers of tokens based
on how you use Jupiter. It seems like folks who used
more of the Jupiter functionality like limit orders,
Dcas, things like that were rewarded more so than just pure
volume. So I think that's a part of
their algorithm. But folks need to check wallets,
a lot of smaller wallets, low amounts of activity.
I'm I'm hearing reports people are getting 50 tokens, 200
tokens. If you DC-8, I feel like it was
every DCA Mandel, correct me if I'm wrong because I know you did
perhaps on droop a bit, but like there's like a lot of people who
DC-8 a lot got like I got about 30,000 droop across wallets and
it's because of my DCA, even the wallets with little volume.
And I saw this guy who also like JCS tweet.
I went viral, knock. I don't know if it's real or
not. Yeah, he said that he made a
million off of corn, but he DC ate out and then he got another
100,000 jupe for DC hanging out. I mean man though, you're like
the Juke God. Yeah.
I got a lot of Jeep on this. Do you have insight into like
what how you think they did the Allo based on some of your
personal experience? I don't know, like I have GLP in
a lot of wallets, so maybe it was to do with that I.
Don't know. I, I am kind of boomer and I
have very rarely used photon and bullets.
So I'm mainly like a Jupiter guy, but also like, yeah, my
volumes is not small. So I think I don't know.
This is definitely one of the biggest adverts I've gotten in.
It's it's actually. Wild.
I mean your a pair drop was ridiculous.
A pair drop is like completely different.
Millions. Yeah.
Mendel, just so you know, you're invited.
I'm in Lisbon for the week for a certain football match and have
an extra yo VIP ticket. That's I'm pretty sure that's
against Barcelona and the the Champions League.
Yeah. Benfica has been in Barcelona
this week on the 25th. I got a married marking.
Oh, OK. I know.
So just so you know, Cryptoholic 21 has invited you VIP, maybe
check if he's not going to kidnap or murder you.
But like, that's not bad. That's that's that's listen,
Cryptoholic 21. That'll be a wild game.
That'll be a wild. Game you're invited.
VIP ticket clearly like you literally you're invited by
Cryptoholic 21 on XI actually got an invite to the Manchester
City one in Paris in the in the box next week, but my ass is
here and it's going to be negative 35° so I ain't moving.
Yeah, reach out to the boy. You sure you don't mind anyways,
Tyler? I think I'm back in Lisbon, so
maybe, yeah. And it's in Barcelona.
None of my mate wants to come. Dude, you need to change mates.
That's crazy. None of his friends wants to go.
You got to go with the guy. This is a great story.
Yeah, Crypto. I don't know.
I'll let you handle this. Take it from there.
But I was supposed to be in Portugal this week too.
Sadly had to cancel but anyways. Why are you not?
When are you coming? Well, Locks and Locks is there
with Elan. Elan's coming Sunday, but I your
boy has to stay back. We have too much work.
Like honestly. So I was supposed to be there
this week. I thought you were moving.
I am moving when I have time. Please.
Like I the show isn't anytime I'm not freaking out about my
work. I have like 5 months to leave.
Not even. All right, let's go.
Let's go back. Yeah, aside from being a Twitter
Spaces wholesale, I do run a 50% company.
Anyways, Tyler, what else do we got?
I mean, the ASS are the most exciting of all this.
Emanuel kind of went there at the beginning, but I feel like
we can dive in, go again a little bit.
So yeah, looks like, so the leaders all jumped like 30%
yesterday. It does look like we're giving
back some of those gains. I was looking back at the
charts. So the total market cap did hit,
hit 20 billion, a little bit over 20 billion.
So we're still about 1012% off of all time highs for the
broader market. So, so still some room to go
there. I think a very clear signal this
week that both the AI sector is here to stay and I think these
leaders are are here to stay. I think there's some nuance and
is it the infra? Is it the new apps?
But listen, I mean, virtual's up.
How much is virtual's up off the bottom here?
So this this thing 220, it's up. So it's up 50% off the bottom.
AI16Z it's down a little bit, but it it did a full 50 to 60%
off the bottom before it dipped here this morning.
We can put four coin aside for now.
AIASBT is, you know, one of the shiniest new rockets and showing
us how high some of these to start to go.
So it had $0.94, it's at $0.80 right now.
I think the what I'm reading into a XBT here, I think there's
a lot to unpack. The Binance spot is something
you want to have for your token. I think that was actually in
question a little bit because the perps we we know have been
terrible. The coins who just have the
perps, they were, they were getting murdered.
And then even when AXBT had the spot it pumped and then that
pump sold off and some folks were were, you know, pointing to
that as just a red flag for the broader sector, right.
But then as soon as we have the sector reversal, guess what the
single biggest mover on the day was the one with the Binance
spot listing. And I think that's, that's
absolutely a part of it, right? Because I mean, it's not like
some news came out yesterday about AIXPT that it's, you know,
that would have made it move so much more.
Well, it's interesting. So I ran a poll yesterday about
how people, how people think about AIXPT as a meme or as a
utility token. And notably like the response
were, were split right down the middle.
It was it was nearly 5050. And as I think about it, the
reason I ran that poll is at 90 cents, access to the AIXPT
terminal cost $540,000. So.
Are they doing tiered access though next week?
They are. I think there's been chatter
about tiers, there's been chatter about subscription
model, but I think that as a token holder is bearish.
A subscription model to me is bearish because I don't think
people will want to pay for the subscription.
So, yeah, so I think that's a that's a fair case in that
utility often is met with bearishness.
I would say the the main difference with AI XPT here and
the reason why I think it can continue to go higher
potentially even if that doesn't quite work out is because it is
the number one influencer on. That's my entire thesis.
So like even if something doesn't work out, it can just be
something else, you know? So like there's something to be
said. It's buildings aren't real,
which is this terminal. But then it could also go into
more an infrastar play it when you have that much attention,
you can kind of do it particularly and you're in this
sector. If this was like a, if this was
a 50 or like this, this, this is one of these applications with
20,000 followers and we were owning it and we were hoping
that it could, it could like move up higher.
You've kind of got one shot, right?
You kind of got one shot for this to work out.
And if it doesn't work out, that thinking like just go to 0.
This feels like even if that terminal doesn't quite hit in
terms of users, I think people just give it the benefit of the
doubt in terms of right. Well, it's going to be able to
do a lot with the position it's in.
It's kind of the same as virtuals, right?
Do you remember like virtual, but no one was using virtual
agents and they still pumped it to 5 billion because it was seen
as like a leader. I kind of feel like that's
similar here in that it's only which means that there's fewer
winners people. It's got the finance spot
listing and now it's like the number one Kol.
This is this can just be a few different things it tries to do.
I reckon in the same way that troop terminal had that as well.
And still I think has that possibility, like I think a lot
of people are following it so it can do a lot.
I like that thesis. It's.
Going to continue to have the mindshare and I think it's.
On Mindshare. Trading as on the medic value, I
think it has really no signal. But when I see that the rue
kings of the world come in and write their theses about the
subscription model like. I'll be very careful.
What happens if this thing brings in $200,000 in the
subscription now you guys valued at $700 million?
Whatever Andrew Kang says, I was the opposite personally.
That's basically what I'd say like Virtuals is doing.
I mean, let's have a look. Let's bring up June dashboard
right now. Yeah, send it Virtual's agents
do. You mind sending it to me or do
you want me to find it? I can find it.
I'll put it into the private chat.
OK? Do we even have a private chat?
It's in the phone wire chat I'll.
Put it in the phone wire chat. I haven't seen this, so I I
actually don't even know the numbers.
OK, got it here. Let's have a look.
I proceed like just while we we pull this up, I I think it's a
fully KOL thing created like AISBT is the biggest KOL in
crypto. So every since the start of the
year, virtuals is made probably on average less than 100 grand a
day. It's the in the last week it's
made more like 50 to 70 grand. So if you go down, that's the
number of agents. If you go down slightly on this
for you can see the the protocol revenue right go up.
Is it in here? Skipped out, yeah, that's the
protocol revenue you see they're to the right.
See the chart. Like look at that chart.
It's not like virtual is making much money, right?
Like, so I agree that like utility can be bearish in some
ways. I think it's more bearish for
virtuals than it is for a, as I just described with a XPT,
because it has so much mind share.
Like it can do. If this doesn't work out, it can
do something else. Like virtuals is kind of this is
what virtuals does. It's not really making that much
money anymore. Yeah, it's trading at 3 1/2
billion. That's it's like, I mean, is
this a risk to the entire ecosystem because all the native
tokens are priced in virtuals, right?
So like if virtual is corrects. I'm just telling you, we're in
the pre revenue stage. You know, there's that famous
you don't want to have, you want to be a pre revenue like there's
time to show revenue. But.
This there's still the expectation there can be
something new in the future, which takes us to some crazy
level. So I feel like we're we're in
the pre revenue stage still. Like I don't think low revenue
is stopping people from pumping these tokens.
OK, I don't mean. Looking at this chart, that is
a. Crazy chart.
Look at that chart man. That is.
Actually, I mean it's. The most embarrassed chart in
the history of AI it. Makes their move to burn all
their revenue pumping their agent tokens Looks more like a
Hail Mary than like a chess move to me.
Yeah. Because they don't have revenue
coming in the door. So they're they're not not the
the pace that it was. And I don't think it's going to
spike. It's not like virtuals is the
pump fund for AI agents there. There's dozens of launchers.
And pump fund doesn't even have a token yet.
Can you imagine? They will continue to have
launches, but they will be small in number.
So like the the days of 10 million, three million dollar
days like those days are in the past.
Yeah. You got to change topics before
I yeah, I don't hold any virtual tokens.
I do I. Own I only yeah, I only have
wrecked and the ISBTI guess now that are are they virtual
tokens? They are right technically.
So the code today rafflebot dot XYZ rafflebot dot XYZ.
I just finished the loot box. Actually, the code today is
America. America, in honor of our of our
friends, Tyler did it. You know America is the code for
today's robot loot box spin, so make sure you put the code in
and try and win a punk or an ape or red guy or rugs today,
hopefully, hopefully only a punk or or or a pudgy sorry.
So let's see that. All right, What else you got for
us, Tyler? We got to talk about the AI Phi
sector, otherwise known as D Phi, D Phi, so.
Griffin, see what it is then? Like I'm really confused again
my. Definition is it's the agents
and launch pads for agents that give them functionality to
operate on chain and like whatever you think is a Defy
transaction, an AI agent that can do that.
So it's not bots, it's agents that can trade and actually
execute functionality on chain. Griffane is the number one in
that bucket. I mean, I think there's of
course there's the we've made the case like is AI16Z is
virtual technically if they enabled that, let's put that
aside for now. Griffane's number one, it
flipped FAI yesterday. So it's the number 5 token, got
the 540 million. Hey, Anon, Daniel Sesta's token,
like I, I tweeted out the chart today.
It's probably the, the single strongest upwards momentum of
any single AI token. It hasn't had a pullback more
than 25% and it's up 17X in the last two weeks, $23 nearly I
think 300 or 400 million FTV. Then you've got beneath that
you've got tokens like Orbit the Grift.
Grift is the picker that hit 150 million, an all time high
yesterday. Buzz the Hive team.
So the Hive team won the Solana hackathon yesterday.
So I I think part of the buzz, pun intended around that token
was that they were doing well in the hackathon.
They did officially win that hackathon in their prize,
putting the 60 K aside, was that the Solana DJ's pump their token
to 120 million. So these we knew these
hackathons were being watched, but it is a big deal to win
these hackathons because folks are going to buy your token.
I bought the wrong hackathon by the way.
I lost $60,000. Oh no.
Yeah. Sorry to hear that.
It's all good, we all make mistakes, but I realized last
night and then I had to sell it. That's.
A oh wow. Yeah, I think I may have lost
even like it's anywhere between 60 and 100 Ki do too much
trading, like I move too much around these wallets to do the
math. But Sylvia and I and Benny, I
think collectively lost like 200 grand because what?
What Terry, what? What did you guys do?
So we had the wrong. Token, we bought this shit.
I mean it's actually not looking bad.
So what's the difference between Hive and Buzz?
Oh. I bought this, I don't.
Know what this is? This is actually like so I have
none anymore, but this actually looks good.
So I was confused like this chart looks good and it's hive
and then a bunch of people I know follow it.
So see that's the danger right? Like a bunch of people, I.
Follow this one. Even Malcolm does I follow this
one Lord follows it. No you don't not this one see
different 1. So let's see look side doc porn
Lord macd gods and locksley. So I'm like the fuck?
My my gut read is this one trades slowly based on people
who are mistaking it for the other one.
Right, and so I bought this one and turns out the defy one that
the fucking AI fi one was buzz. Buzz.
Which is this right? Yes, yeah, he's doing it.
So I got cooked on that. Like I was so annoyed last
night. I was like, bro, really, because
that bitch has been blindly, Well, I guess that's a danger,
right? I just been blindly aping CAS
that are around AI and have a good grift tied to them.
So like if the grift is good enough to like make people buy
it, just buy it. Like what's the narrative?
Oh, it's the next Griffin. All right, good, perfect.
Like, I don't know, sometimes you hit, sometimes you go ahead.
Last night, you know, someone hit me with whispers or
something and I hit it. And now I just went to 25 at 7
mil just now I just had a golf candle on the show.
So it's like, and I I don't know what it is.
I just keyboard monkey sent me ACA and I bought it.
Yeah, anyways, wrecked is actually a good example.
We should talk about wreck, by the way, obviously for the
disclosure of bags. I mean, I have an enormous bag
of wrecked, but it is OV is killing it, dude.
I have to give him credit, dude. Like the whole base bridge,
which is very smart, but on top of that building this AI agent
around his art, but also with his personality.
And now it's a top ten mind share AI agent, but it's the
only AI agent with top ten mind share that's sub hundred mil.
I mean, Mando, you just mentioned it first.
Like pretty impressive. Like Ovie's gone full dev mode.
He's dev ING the whole thing himself.
He's coding. He's actually coding.
I asked him. He's got some stuff coming with
it. Yeah, he's got some stuff coming
with it. He tweeted about that.
Yeah, some stuff I think that will be announced maybe today or
very, very. Yeah, he tweeted about it that
yesterday. So it's not even a secret,
right? But like OK, now it OK.
He's gone from like, he's gone from hazing all this stuff to
like all in which I which I think is really smart.
Yeah, I think he's done a good job of like integrating AI
without like being obnoxious about it or just like this.
Yeah. Like he's just tying it to, you
know, the, the brand. Reggae is great, by the way, and
it's listen, Ovie tweeted that he's transitioning and he just
created reggae. So it's even like a really open,
it's really open it open AI. He launched Gayfi He.
Really launched Gayfi like Gai. Drummer about Have you seen
this? Drummer about Ross The Ross
coin. Yes.
What a little bit, God damn it. What now?
There's a Ross Ulbrich coin that's come out a new one which
like Anson's been called out but but the other one is like full
sending right now. Fuck I had the wrong 1.
I had a Ross. I had the old one.
Well, the old one's the old one's sending now.
It's 30 million. I had the Ross's mouse at some
point. Oh wow this one sold off until
it came back. So what happened?
Like there's a someone else launched a new Ross token and
then they added an AI component to it to like speech.
I am not dug into this. I saw people in the reply saying
like the new one was like bungled all this.
Oh my God, look at this candle. That's the old one.
That's the good Ross. Is it dude?
What's going on here, man? I can't keep up.
Oh wow, oh wow. Ross Coin is the new one, yeah.
What the hell? I mean, it's doing pretty well
too. This is like this is your worst
case scenario. If you're the old Ross well.
What do we think? Let's talk about the most
serious side of this Ross thing. What do we think?
Do we think Trump executively orders the freedom of Ross
Albright they want? He said as much, right?
I actually had to go back through all of Trump's promises.
That was a big one. It was not like a main one.
It was never like. For crypto, it was one of the
big ones. Right on.
My on his list I don't think. A lot of people saying it
doesn't think they want, I'm sure I think like because like
we talked about this a lot in private, right Tyler, like what
moves the needle they want for crypto?
I don't think we had strategic reserve on the first day, but I
think you know, there's 106,000 Bitcoin, right?
I think was it you have sent it, they have 106,000 Bitcoin and so
that would put them at half the Bitcoin holders holder ownership
as China by just like deciding not to sell them.
I think like an executive order on saying we're not selling the
Bitcoin America has already is enough to move our market past
110 K honestly. Oh, what was interesting about
all that? So that if they give if the US
gives the bit Fenix Bitcoin back, that cuts its reserve by
50%. I see that's.
Like half of its Bitcoin, half of the US Bitcoin.
So now folks are starting to think.
Ah, that's the read. Catalyst for buying more.
I had the wrong read. Yeah, Yeah, I didn't read the
tweet right. OK, I see what you mean.
Interesting. It's I don't think he will sign
an executive order to free Ross on day one, no.
Is there a myriad market and then we have how many markets we
have, how many executive orders he's going to call for, but I
don't know about the, I don't know about the rest.
If he can only do 3 crypto related things on day one, like
do you? Do you want him focused on that?
Like do you want that to be I? I like I stand by my call that
like two of the three, let's say are going to be free Ross and to
decide not to sell the Bitcoin that they own.
I think those are lower hanging fruit.
They want executive orders on crypto.
I think strategic reserve does take a long time.
You can't just call for one right away.
It's a lot of them tricky sees, right?
I don't know, Amanda. What do you think?
I think I think free Ross would be definitely one of the 1st.
That's just my gut. Just because it's so easy for
him to do. It's like going to eat.
It's like a low hanging fruit for him to I, it's not going to
be what we want, but I think it'll be like he's going to get
criticized for it basically is what I think.
Yeah, it would be interesting. And also the message it sends I
think is big because the free Ross was like the first promise
he made Tyler. And I think that by freeing
Ross, you assume that the other promises will be kept during
that four year period. That's my thesis.
I think we want to see at least one crypto thing because if not,
then everything we've been celebrating this week is like,
oh. Project 2025 has 100 plus
executive orders drafted for to sign.
Holy fuck, yeah. I'm definitely taking the over
10 on Myriad. I took the over 10 on Myriad for
that. All right, well, look, I think
we went around the home pretty well here today.
Markets. Interesting.
I guess we'll see where we're at tomorrow, but looks like we're
ranging again. Look at this clockwork man
though. Clockwork.
This range. Clockwork straight up dude.
Literally clock clockwork. What?
Yeah.
I that's all I did. I just for fun to to see literal
clockwork on this one. Like, you know, lines.
What I think is good is that we've seen Bitcoin Donuts come
down a little bit. So what?
Yeah. You know, I wouldn't be
surprised, but the best the bull case is this, right, Like you
dip a bit over the weekend, low volatility and then Jan 20 is
here and then he he then executive orders.
So I'm this is I think what's happens, right?
It's like we dip higher low again here.
So what like Jan this weekend? Probably maybe I wouldn't be
surprised to see the one last shakeout to 92K to just scare
the last remaining bitches out and then we're good.
We'll see we'll see. All right, let's get into this
We. Have six months of it.
Stop it. Stop it because you know, I like
a side of me agrees with that, but I don't want to.