Oh, yo, what up? What up?
Good morning, Good morning, GMG. Wednesday.
I don't like Wednesdays. It's kind of like it's kind of
random, you know? Oh, hey, Wednesday anyways,
Wednesday. You know what I mean?
Like. We used to love Wednesday half
of the week. You like Wednesdays.
I I like Thursdays. I Thursdays like you know, it's
lit Friday. I'm I'm exhausted.
Saturday, Sunday's fine. Monday's great.
I don't know. Maybe I'm a Tuesday minimalist.
I don't know. Maybe maybe I'm, I'm, I'm
bearish on Wednesdays. I'm bearish on I'm bearish on.
But I'm bullish on today. Wednesday, August 14th, 2024,
four, four, look at that. Another beautiful day to have a
beautiful day. Another busy AF day over here.
Holy shit. I got my car was in the house.
Mano's on the way, but Tyler's over here.
Tyler, how are you doing today? Yeah, I'm doing well.
Sunshine, beautiful weather here in Chicago and markets, some,
some pockets of this market are starting to come alive again.
It's been quiet. The majors are chopping, but
there's a few sectors doing OK. So some excitement is building.
I'm feeling good. Yeah, I mean, I'm feeling if
you're going to tell me the NF TS are back with a half a
percent pump, go ahead and get started.
I saw this today and I'm just like man, mother fuckers with
talk tweeting about Bitcoin breaking out of 61K gets.
I have my my indicators now. I know exactly who my counter
trades are and I think I'm going to try putting it to work.
But if you're on here to tell me the NF TS are back when apes are
trading at tennis, you know, spare me so much the the.
Most back the Backus they've ever been.
I just, it just makes me laugh because this morning I saw the
screenshots and then the whole market got slapped back down
before the show and I was laughing at myself because
there's this one trader that always posts the same chart
every time bitcoins like sees a pump and every time like 5
seconds later kid, you know there's a two point $5000 candle
down since he posted this thing. We need Mando to pull up in a
shirt we did yesterday. Yeah, we.
Got a shirt motherfucker. I better fucking be wearing a
shirt. Honestly.
I saw that guy post I let he close my salon alongs just like
slight like break even slightly and thank God it did I I try to
I I I tried getting back into the leverage game and I was
like, yeah, never mind. Let's let's not let's not let's
not get into that game during the chop.
But anyways, another show today today exactly the other show
today today market reported as usual crypto macro, all that
good stuff. We had CPI, we had PP is of all
those numbers. We thought the numbers were
good. This hold on, who sold Jesus
Christ anyways? Yeah, these numbers, we thought
they were OK Turns out they're maybe not so OK, but.
But we'll see what happens there.
Tyler's top 1000. And then last but not least,
that's it. We'll give 100 bucks to someone.
Oh yeah, we'll have a agree to agree to disagree or agree or
disagree tweet today and then and then we'll give 100 bucks to
to someone who's listening live. So we'll just you know, quickly,
like stop my finger on someone just send you $100 if you ever
roll bit account and it's that simple.
So anyways, we'll get to Mendo after as soon as he's back.
I know he had 10 minutes delay. So Tyler, Tyler, Tyler, what do
you got for us today? Four daily NFT and crypto
analysis. Tyler D on FOMO Hour calls the
kids. Can yeah it it's a rocky
morning, so crypto majors were up 4% pre CPI the CPI came in
mostly in line with expectations.
One of the numbers was a tick under expectations.
Apparently market didn't like it.
Majors are selling off now Bitcoin back at 59 K.
It was over 61 when I woke up, so a little bit of volatility
there same with stocks. Stocks have flipped red on the
morning as well and other headlines.
Coinbase eased CB BTC as a wrapped Bitcoin alternative
coming to base. Now this comes just a week after
the rap Bitcoin flood from Bitco and and Justin sun was
circulating last week. So interesting timing there
Stablecoins on Solana up $1 billion over the last three
weeks, largely driven by PYUSD PayPal stablecoins growth over
that time. We saw portal remember portal?
They launched portal on arbitrum.
Shout out to Arbitrum furthering their mission to build cross
chain payment rails to unite web three games and we got some
breaking news this morning. I think this is actually big.
Perhaps the biggest news of the day.
Metamask has launched their first ever crypto debit card,
allowing people to spend directly from their Metamask
self custody wall. So a lot to unpack there In
memes, meme coin majors have flipped to red on the day.
Most are down 1 to 2%. Ken, Billy, Giga and Flog were
notable leaders. We got some wild news out of
Giga. We'll have to come back to that
later on the show, but that was a fun headline.
We saw pump record high best ever revenue day over
$5,000,000. Again tied to that Trump and
Elon conversation, a based token launched with everyone holding
those base introduced entities. They're eligible for 25,000
tokens that a base coin over $4 million market cap and then
margin by They launched their arena product where users can
now go long or short any tokens on slot, including meme coins
and NFTS Looking good across chains here this morning.
Green across the board ETF leaders up about 5 to 15% this
morning. Rune leaders up even more.
RSIC bonk pumps Billy up in the 30 to 50% range, so some nice
comebacks there. D gods are crushing over on
Solana of 19% at 31 and a little bit of a fun and perhaps not so
fun headline. Kevin Rose, everyone's favorite
NMT founder. He's back and he's launching the
paid sub stack tied to tech, health and Wellness.
So so check that out if you're interested.
There's a lot to unpack from that list there bro.
Yeah, there's a lot to unpack over here.
I mean, we'll keep the market stuff with for when, you know,
Mando talk come so you guys can go back and forth about it.
But where do you want to start? I mean, there's some pretty big
news. I mean, we all wanted a Madamass
token. All you got now is a debit card
so you can spend all your crypto.
So tell me. Yeah.
I mean, this is yeah, we're, we're not getting the token, but
we're getting the debit card. I'll.
Take that, I guess for, for mass for when it comes to like to
show that money, but crypto can be money and whatnot.
But tell me more about this partnership.
Yes, they just launched it here this morning.
The news is about an hour old. It is their first MasterCard
debit card. I believe it is branded as the
Metamask card. They they have built it and are
launching it in partnership with MasterCard and the Box Group.
It's going to run on Linea the the Linea.
Network. Oh yeah, 'cause they it's a
consensus, consensus software, right?
Yeah, exactly. And they're going to make
purchases directly from your Metamask wallet.
Available crypto will be instantly converted to Fiat at
the point of exchange. Says you can use it every day
like you can via Apple Pay and Google Wallet is leveraging the
MasterCard network. The pilot is launching in the EU
and the UK, so Americans won't have access to it just yet.
And it looks like you'll need to go to that Metamask portfolio
tab from your Metamask wallet to see if you are eligible to get
this this card. But I think it's a really big
deal. We talked I talked about this a
little bit on on the show. I think one of the, the end use
cases for, for crypto in narratives is that you never
have to convert crypto to Fiat again.
And it, it's been impossible to really do that up until now.
And I think now we are finally getting some of the building
blocks to actually make that a reality.
Like you could become, we're getting closer to actually
becoming bank less, you know, to, to, to use the term and you
have this product, if you can actually do this, since it's
accepted at, you know, your grocery store everywhere you
shop. I mean, you really don't have to
convert your crypto to Fiat on a monthly basis.
Like we, we still need bigger unlocks like cars, houses and
all that, but man, we're, we're getting closer.
Yeah. I mean, I like this.
I think it's a very big update. It just goes further to prove
that, you know, crypto can be used.
Just use cases for for for that as well.
And you don't have to buy gift cards.
It's the in crypto now you can just get a meta mask debit card
and spend that money, which makes it easier in Europe for a
moment, there was like a revolute cards and stuff like
that that they had. So they that's some stuff.
But I think that having a meta mask debit card and in
partnership with MasterCard is very smart and and probably
going to be very useful. Hopefully, hopefully the next
thing is this card gets you points points.
I have I have a bunch of these sort of cards.
You, you, yeah, you guys in Europe are ahead on that, right?
Yeah. So banks is also and MasterCard
are the company that do it with Ledger as well.
So Ledger have a card as. Well.
I don't think over here, man, Not in this, not in this.
No, I think it's a European based card.
But yeah, you it's, it's basically exactly the same
setup. Like you log in Ledger live and
then you have your card and you can.
Pay that way. Crypto.com are probably one of
the biggest card providers out there.
Like they have a special way of doing it.
We have to stake their crow CRO token.
If you take a certain amount, you get different like levels of
the card. I think globallycrypto.com is
probably amongst the biggest. In the past I think Binance
explored a card in certain regions, but I don't know if
they're still doing that. And then Nexo which is that
Bulgarian always funded 1 that that one has quite a popular
card program, so. Interesting.
For the Ledger card, like do you have to do anything on your
Ledger to to approve transactions or it just works
like a normal debit card you just run it and.
The treasury system is accessed through Ledger Live, so you have
to you send it to a an address and it then manage like which
fiats you want to have on the Ledger Live app.
It's like an API plug in I think to the bank's system.
This bank system which is clear now doing the Mathmos 1I imagine
it'll be similar here. Got it.
Yeah, it's good. I started to as well, Yeah.
Yeah, I mean, it's good, but to be honest, like it's kind of
similar to a normal credit card. Like whenever I pay with any of
these, I have to go through and do an approval either through
the app or for like any, any online purchases, for example,
like if I'm just buying coffee, like it's fine, contact list,
that sort of stuff. But yeah, for for for online
payments they do you have to do some sort of extra approval
normally. Yeah, it's there's a bunch of
cards, right? Like even in the comments right
now we have easy saying that there was a finance card.
Logan, you saying that he has his Gemini card by the mail?
Revolut was good but they had high fees.
Yeah. Yeah, they, they, I know this
one was a but Revolut's been around for way long.
Like I've known, but Revolut's like 10 years.
Revolut's not Revolut's A was a card like an online bank which
then was made into crypto. But there are like specific
crypto cards. Yeah, they've been around.
I use Nexo a lot, yeah, But, you know, I don't have a ton of
money ever on Nexo just because, Yeah.
Keep your by. The Bulgarian mafia so.
Well, if, if Mando did not kill himself, everyone Mando did not
kill himself. Anyway, we're going to get to
the market in a in a minute, Mando.
But we started going to Tyler's top 100.
Tyler, what else you got for us? I mean, the CBBTC thing seemed
to be the biggest and most important news yesterday when it
comes to global crypto. So by now I assume that you are
an expert in CBBTC and you can explain to us exactly what it's
all about. Of course, so wrapped Bitcoin
was in the headlines across the crypto Twitter last week.
It's on the go. So Bitco is moving.
It's wrapped Bitcoin business from the US to a global multi
sig and involves Justin Sun from Tron.
It's LED to some concerns in the market and there's been a lot of
thuds, some red flags raised. It looks like Coinbase is ready
to step in and capitalize. So last night the Coinbase X
account made a very simple post 5 letters CBBT.
They went on to follow that it's coming soon.
But those five letters were not to start a firestorm.
Speculation across crypto Twitter, with many jumping to
the conclusion that Coinbase indeed will be launching a
wrapped Bitcoin alternative of their own.
That speculation was basically confirmed just an hour later.
Basically Jesse Pollack stated the team massive plan to build a
Bitcoin economy on base. So it does look like the CBBTC
this wrapped Bitcoin alternative is coming to in the near future.
As I looked into to this a bit, I think so for starters, like
why this would matter. I think the go upping a crypto
asset and bring it to a. Oh, I lost him.
There's the Wi-Fi. I think it's becoming a meme.
It's only when he talks as well, which is quite funny.
It's. Only when he talks like it is
actually you're right. It's only when he talks he
doesn't lag when like. Yeah, I don't.
Know and he completely, I mean what do you know about CBBTC?
The Coinbase thing. Yeah.
No, it's a money making scheme. Like they obviously made a lot
of money with Circle. The idea that they would then
start wrapping Bitcoin. I mean, smart, right?
Because like the new Bitco thing was going to have would you
rather have Bitcoin in custody of Justin Starter?
Bitcoin in custody of Coinbase? Well, bitco is Bitco is one of
the most well known custodians. I know they are, but still like
they're they're they're, they're working with Justin.
They really dropped the ball by deciding to do it alongside
Justin's son. What a massive fumble, right?
Like they potentially just fucked themselves.
Like this is a multi billion dollar company that could
potentially like really have like it could be either just a
slight misstep or a massive fumble.
But Coinbase was quick to retaliate here.
Tyler, we got you back. You cut, but you're back.
So. Yeah, I I wasn't even saying any
P words. So that that was a brutal so
9.24 billion in Ratch Bitcoin liquidity right now and then the
Arkham posted that Coinbase holds 52 billion of Bitcoin.
That makes sense. Question how much is going to to
come over? And I saw folks kind of talking
about how D5 summer 2020 that wrapped Bitcoin was a big driver
of that. I got that was a little bit
before my time, but you know, that certainly makes sense.
And I mean it, it's a massive potential unlock.
I think the question is how much are people actually going going
to move? But if your base, it totally
makes sense to to go after this. Yeah, no, that makes it.
I mean, look at how much Bitcoin they hold, right?
And you'd figure that most people rather have Coinbase
custody. I mean, 11 ETF issuers
definitely prefer Coinbase right over over most.
So it, it makes sense. It makes perfect sense for that.
Some timeline. I mean, timeline seems to have
taken this, you know, in a very, very bullish way.
Does that mean anything more for Bitcoin or is it just like it'll
allow? Because I saw, for example,
people like UDI saying that Bitcoin season 2 is on, you
know, that it's very bullish for Bitcoin defy some of the people
saying that it could be bearish for for Bitcoin now twos that
were about to be built, etcetera.
Like is there do you guys have any thoughts on that?
Like was there any I can bring up the tweet now that you sent
me Tyler, but you guys have any more thoughts on that maybe put
on? That Bitcoin.
Yeah, like does it? How does it?
How? That Bitcoin is one of the main
Bitcoin defy as a thing has been something that people have been
trying to solve. Yeah, exactly.
Many years, many, many, many years.
It's one of the grails of crypto still to kind of solve.
The only way of doing it at the moment is wrapping it having it
in some sort of storage or some sort of custodian and then then
issuing like a wrapped wrapped Bitcoin on on the ETH on the
ethernetwork. Now, if there's a way to
natively do it and natively do some of that D fi I think that
the closest right now is what rune is doing the rune ecosystem
Thorchain. I think they now have a lending
protocol where you can natively borrow against Bitcoin.
Some bitcoiners don't want to touch their Bitcoin, but yeah.
This has been something that like all the Bitcoin L twos are
trying to tap into because obviously rap bitcoins only
about 10 billion. It's not that big.
So that's how much is being used for Bitcoin Defy essentially.
I don't know what store chains TVL is, but I don't think it's
it's not it's not in like the 10s of billions.
It's I think it's less than five.
So a very small fraction of the $1 trillion asset that is
Bitcoin is being used for defy. There's some some like dye uses
wrap Bitcoin and I think on Solana, like even GLPS is, but
it's it's small if in comparison to how big the asset is compared
to ETH, compared to Seoul, compared to everything else,
it's a very, very small fraction.
So if you can somehow find a way, Oh yeah, Liquidium is is is
is something someone's that's trying to do this too.
So this is like the grails kind of get Bitcoin defy going get
people using it XYZ. So DC investor you like DC
managed to turn this into a theorem bullpost.
So. I'll take the opposite side.
What do you think? Tyler here.
Why don't you read this tweet out for people that are
listening live and tell us your thoughts on this one.
Yeah, DC unashamed ETH, Maxi says with Smart Wallet and
CBBTC, Coinbase could turn every one of its Bitcoin holders into
a base slash Ethereum user. And they will.
And will they stop at earning yield on their Bitcoin and
borrowing against it? Many won't.
Another reason why Ethereum remains drastically,
dramatically underestimated and undervalued.
I get this is the the bull case, right?
I think it's still very niche products.
I think we we've got a lot of evidence that Bitcoin holders
like Bitcoin. I could see them using D5
perhaps in the Bitcoin economy, you know, if and when that is
ready and more user friendly. You don't know that we're going
to see a whole lot of converts, right, really going deep into
into D5 and base D5 because of this product like what has been
stopping them from doing it so far right.
You could do it with. Nothing.
Absolutely nothing doing it right.
It's available. It's easy to access.
Anyone can anyone can partake pretty much in in in defy at
this stage right. It's not it's not really it's
not really that that tough I mean Mando, do you have any
thoughts on this one? Yeah, exactly.
Liquidium is doing this native on Bitcoin L1 yeah, leisure.
I figured it. Out from what I said before, no
not. Really.
No. Like really like big.
Opportunity. Don't go crazy about it like the
one of the reasons why Bitcoin. Can you let us find bullish
narratives people? Don't like touching their
Bitcoin? That's kind of like one of the
things around between Defy. It's the same reason why less
than we learned with ordinals in rooms, right?
Yeah, it's like. I was going to say.
Anything with it? I was going to say you guys can
stop this because you're fighting my rooms that are
already at 0 So if you guys could just kindly.
It back, I hate to break it to you.
Runes are back. Well, why don't I give it to you
and tell me how back they are? Go pull up the magic in the
runes board. I almost don't.
I don't. I don't want to jinx it, so I
don't want. To you know what's funny?
I haven't looked yet. I'm not looking.
I open the screen. I bet you that no matter if
every room is back, Pups is down.
Let's see. Even PUPS is green that that's
how you know. Oh my God, it's good 1%.
Pups is up to 10 million after being down from 900 million.
Let's go. Let's.
Go the the comeback yeah so the monthly numbers are still red
for a lot of these so I don't want to get up on my skis but if
you saw how low some of these some of these went so low on the
on the the yen carry trade crash day you're.
Right. Like so low that I, I just
wanted to like almost like cry, wait.
Hold on, don't, don't cry, Tyler.
Of course, I'm not going to, but like RSVC, what was it hit like
30, hit like 30 million I think. RSIC team is good at like I have
to say they're good at like pumping bags.
They're pumping them, Yeah, they're going to have to deliver
it at at some point, but it's back over 100 million.
Yeah, I mean, Leon, Leon diaper here saying very good risk
reward on those bad boys. You're right.
I mean, when Bitcoin turbo crashes, there has been some
very good returns on wounds if you caught the bottom.
But again, you have to catch that, right?
Wasn't there one of them that was listed on the exchange
yesterday, that billion dollar cat one?
I saw that on my timeline. Oh did a good list I I may have
missed that. I I don't have any of it, but
obviously that's the room that I see a lot there.
Yeah, I got Mexi which is not crazy but still like it got
listed on on a on an exchange. They've got a cult falling, I'll
give them that credit. They were all over Bitcoin
Nashville. Those glasses were everywhere.
What I will say my bear case for Billion Dollar Cat is like their
nickname is Billy and the my bear case was that the salon
ability was better, but now the Solana Billy is like kind of
falling off and people don't care about it anymore.
So that actually might have invalidated my.
I like I just want to preface this by saying that I actually
really like the Solana Billy, but every coin like there's
cursed names in the space and Billy to a Billy is cursed.
Yeah, it's one of those sayings that it's cursed.
We saw that one that flywheel fund launched that scam, you
know, doing turbo and Pepe. Remember Billy Like the goat
and. The end of I actually left the
flywheel group. I was in that group up until
that time. I.
Left it brother. That was like that was nice pump
and dump right? The amount of people I know got
dumped on on that one is wild. But you know, usually when you
call your coin, but I do again, I'm saying I like Billy the, the
the dog. I like him and actually bounced
pretty well from the lows up 3431% in 24 hours.
So, so it's got, it's got it, it's got some good cobalt over
there. Real quick, I I want to come
back just to the D Jens on the CB Bitcoin.
They they launched ACBBTC ticker, a meme coin who I don't
know, but if you go to the baseboard, sorry, this is back
in meme coins now if you go to top volume movers, yeah, I think
it's number one there. Oh, wow.
See Bitcoin. I don't know any of this but I
just thought it was funny. It is fun.
I mean, look, it didn't do that bad, right?
It's up. It's only up 2500% in 24 hours,
so it's not bad. But I do like your point about
ruins. And then you talked about NFTS.
You wanna go there before I go into market report?
While we're on base, so this is kind of NTS.
So I posted about this yesterday, folks.
A lot of us minted those base introduced NFTS back in February
of 2023, so about a year and a half ago.
Now the the, the rumor mill at that time, like we hype
ourselves up so much was that this was the de facto Coinbase
base token. They couldn't launch a token.
So they launched this NFT. It's liquid like ones.
There's like 450,000 minted. Anyways, a different group has
now latched on to that NFT and they've launched a based coin
and that they did a phased launch where you could exchange
those base introduced NFTS for the tokens.
In phase one, you can get 500,000 tokens per NFT, then
250,000. Now it's 10 to 25,000.
So it it's a little bit less appetizing, but the, the token
launched yesterday, it ran up to like 10 million at peak and it's
consolidating a bit here. But this impacts a lot of
people. A lot of folks had those, A lot
of folks stacked those. I may have it, I may have some.
How do you? It's in my I guess it would be
my open CE, my base on base. I'd have to check, not too sure,
I may have bought some of that. I swear I mentioned like 300 of
these because I was just the clown who if I fell for this but
I can't find it so I don't know if they're on one of my old
machines or not. That one all size haven't
migrated so I got to try to find these.
Yeah, we'll see. We have.
Of course we got AMF first shell here on on the on the group.
You have leisure. Why don't you like I don't know,
I don't know about base meme coins anymore.
I was I was bullish for a hot 2nd.
I just smaller casino just keeps on dragging everybody into it.
Right. So by the way, before I go to
the market, this pump funk conversation, I thought a lot of
people were joking, but people are really pissed, huh?
I yesterday like it got worse after the show.
Like people are really pissed off.
They have like the highest revenue day in a while.
I think people are starting to discover that people have been
making money. Photon has made hundreds of
1,000,000, yeah. No kidding.
Relax is making money quite a lot of money at the moment.
You've had Banana Bot make money, Unibot make money.
They're all. Bonk they've.
All made over $50 million basically.
And I think so the top ones like Photon Bonk Bot, they've made
hundreds of millions and people like hold on like well.
I'm not making money. But The thing is like it's.
The best response to that was yeah, if you look at how much
Binance makes I. Was going to say that literally
Oh my God, literally my next thing was going to be Mendo.
Do people want to cancel central exchanges for leverage trading?
Like should we point? Like should we like Like people
are saying that meme coins are dangerous, brother.
Leverage trading is more dangerous than meme coins.
Like, like arguably in my opinion, and they're accessible.
They're both high on the risk scale, but that way.
But I would say that, yeah, I think this is just a
conversation for nobody making money.
Right. Yeah, whenever.
Those. All of those.
Bots. Yeah, Yeah.
All of those bots that were mentioned yesterday as well, but
they they peaked in their revenue a few months ago.
It's only really pumped off on that's built up the revenue.
But this whole model where they're making it free for
creation has really just pumped up their own revenue metrics.
Jeebus posted about this. I think I kind of agree for for
starters, like I, I'm not angry, I'm not fun.
Like again, they're not just a great product.
They deserve the success. Basically saying that them kind
of tweeting about like their success as a platform versus
like highlight success is, is part of what drove all the
pitchforks. Like we may, you know, tacitly
the platforms are making a lot of money on the back of this,
but I think the folks don't want to see it like shoved in their
face, especially when when they're losing.
And I think folks would rather see like, why do you show up to
the casino, right? You want to see the guy who
turns $200.00 into 50,000 or 100,000.
So maybe leaning more into that versus just saying, yeah, we
launched 10,000 tokens and we we made record-breaking revenue.
I understand this point. Yeah, I mean, maybe don't shove
in people's faces, but I, I, I, I don't know, I, I, I just find
it funny that Levis traders that share the reflinks on their
every post are the ones claiming that pump font is bad for the
space. Like dude, you're literally
sharing. Like these are the same people
that are promoting FTX back then getting paid by Sam Backman free
to shell his fucking product or claim.
Everyone wants to go to the casino but nobody wants to to to
pay the fees for it basically. That's what I don't understand,
like let me go cancel the Wynn resort for the fucking money I
lost last time I was in Vegas, dude, Like no, I just won't fly
to Vegas again and be a dumb ass like you know what I mean?
Like it's just like I, I, I don't know, I have a very much
stronger stance on this, I guess because I just find people kind
of, I just find it ironic that. Do you think they'll break this
$5,000,000 record daily? I'm sure I mean.
I don't know and. Bitcoins.
Feels like 8 meme coins to a certain extent, at least in the
short term. I short I don't know, bitcoins
at 100K, what happens to meme coins and what happens to the
casino? Yeah, I agree.
I should. I don't know what about.
I think it's to do with the changes in the incentives have
actually LED them to get more money because more things are
coming closer to radium and therefore they don't really
care. Like pump fun really makes their
their money at the start of of the coin right of the coin
creation. So they don't really care about
the success of the coins. So it's not like, oh, if money
goes up, more coins get created. It's just it's difficult to work
out like this is even this can continue.
Hey, you know, there's I don't know, I just I just saw like
yesterday, like stuff getting more aggressive all the time.
I think some people trying to dox the guy and shit like that.
It's like dude, like I don't know, I don't know.
And like you have all these traders sharing the docks.
I mean, I'm just like, dude, like it's all the big leverage
traders that are like claiming that is bad for the space that
all this like, I don't know, I just I just find it ironic.
I think we should get Alan on the show.
Come fucking ask him what he thinks of all that.
You know, there's definitely some things they could be doing
better, but you know, exchanges also make tons of money and
nobody's complaining about them. So I thought that was a funny
thing. Anyways, Mando.
Well, that's Tyler. You got anything else that you
feel like I didn't touch on from your?
The Giga story was fun. I don't know if we want to.
Let's go. Over that and then we'll go to
the market report. I I shared that as well.
That was hilarious. I didn't see this until I saw
the decrypt article come across right before the show, but
apparently the the giga chat model.
I didn't even know this was a real guy.
I just thought this was like, hey, he's a real guy.
He he came out and endorsed it. He he put it on his Instagram.
He was wearing like a Giga fitness shirt or, or something.
He he posted it. So like, yeah, recently the Mike
Titan, the bodybuilder o'hearn, he endorsed it and now like the
actual Giga Jet model. Oh, he endorsed it on our new
programming. OK, so Ryan Ryan, one of the
Crip writers, Ryan Gladwin, he's great.
He's been doing a new episode, a show called What's the meta once
a week where he has a big like meme coin dev come on.
So he had the mock team Billy and now I think Giga, I guess.
And then person Giga chat himself endorsed and it's up
21%. That's funny.
That's quite a witch. Remember when we first talked
about that Wick? God.
Oh, and then it's filled it. It's doubled since then.
Like it doubled the Wick I think.
Damn. Oh, it did double, but still,
it's significant. Tyler.
Well, look at that dump, guys. Look at this.
Look at this recovery. Dipped by giga dip then giga
rip. If you, if you held that dip,
Odyssey respect, like if you held this dip and it's up, how
much? It's up to 172% from the lowest.
But if you have that nip, I have a lot of respect for you over
here 'cause that look at that. That is such a crazy chart.
How's how's Moon doing? I haven't checked it in a bit.
Hold on, let me check on Moon with the bull because that was
the other one that had a OK. Well, there's still a lot of
work to do here on that on, on that wig.
But anyways, all right, well, that's, that's good on Tyler's
top 100. I love it.
We got a lot of good stuff in store.
Mando, Mando, I know we got CPI this morning.
How are we looking? Who is the main?
Macro daddy of the land. Can you dig it?
Well, I'm surprised because CPI came in slightly less than
expected. We have A2 handle for CPI for
the first time and the market dumped, well, didn't completely
dump, but we had a little mini rally and then soon as stocks
opened structure down. I think probably just a little
bit of caution. Let's say we came in lower than
expected for CPI and PPI. There's been a heightened sense
of recession fears I would say in the US again, these sort of
figures, they aren't falling off a Cliff.
It doesn't this, this more suits to slow down rather than, Oh my,
go ahead and do a recession. So I'm not that worried about
this figure, but it feels like maybe the market is more worried
about it. They had they had a good day
yesterday. It rallied just shy of 3%.
The NASDAQ is down well, half a percent today.
So nothing crazy. But it did feel like at the
moment crypto is following macro rather than rather than being
inversed to it, which it was for a long time.
So crypto is rallying when stocks are rallying and then
crypto sold off when they weren't.
I think we hit a high of 61 around 62 K on Bitcoin.
Solana I think hit 152 area and ETH I think it about 2780.
So is we're down about three or three or 4% since those highs
probably an hour ago. And I don't really know what to
make of this. I've been saying for a while,
look, I think we're going to chop for a bit.
Again, six months to chop baby. I don't think it's, I don't
think it's six months shop, but I do think it's going to be
tough for us to break out before the election.
So be prepared for well, just just just shy of three months, 2
1/2 months of shop, I think we could still have so be very,
very wary of buying into momentum.
You had some people coming out today and being like bitcoins
going to go to, you know, 6066 K all time highs.
I I'm wary of that, even though there were, you know, there's
inflows into stable coins. I think I just think we need a
big spark to kind of take us above that, that sort of level
We kind of spoke about yesterday what have been going on with
with Trump and Harris and that Harris had had hired potentially
less crypto friendly. It looks like it's choppier.
Yeah, higher odds are increasing again.
So people are, I think, getting a little bit more worried about
super. PACs, they're bidding.
They're bidding Kamala. Yeah, exactly.
And but today in terms of we had sold stable coin volumes been
going up. I saw Tyler's post around that 1
billion in the last three weeks. Interesting on the ETFs you have
Goldman Sachs coming out and saying they own 418 million of
the Bitcoin ETF, which again just ingrains and more and more
into into crypto. I know Goldman have have a
crypto desk for example, there was a record for Ethel two.
So if you're if you're bullish on the modular narrative, then
then that that's bullish for sure.
Although it did look like jump is continuing to sell their
crypto holdings. And it also looks like big the
Mount Gox, the final kind of 2 billion ish odd is going to be
sent to bit Bitco or one of one of the major custodians.
So that's so that's going to be distributed I think relatively
soon for macro. Honestly, it was just around
this figure today. It's it's kind of a good, a good
figure, but markets aren't taking it that well.
And I think we'll probably just chop around for the rest of the
day if you're most. Yeah, I mean, this I thought it
was cool news, by the way, that the Goldman Sachs, you know,
reporting $400 million of of Bitcoin held as well.
So they join, you know, the skew of banks that, you know, you
have Goldman, Morgan Stanley, Wells Fargo, you know, it's
looking pretty good. I also really liked what was it
this tweet yesterday, Hondo Horsley saying that, you know,
again, like a major bank also trusted them for for the Bitcoin
Etherium ETFs. So that was some good stuff.
So on that front, like nothing's changed, right, like the the
ETFs are still slurping Bitcoin and Ethereum.
The markets are here. A well known bank with one
trillion client assets has just approved the Bitwise crypto
industry innovators ETFBITQ for solicited access for across
wealth management throughout the supports these advisors.
So it's like, you know, but the stuff's not wait, stopping.
You know what it is? We need people.
To you know, all this stuff will happen.
It's all it's all positive. People are still on vacation,
right, Mando, like once their kids go back to school and the
man first go back to work and want to, you know, see what
they're doing with their pension funds and like, you know, the
retirement savings accounts and everything.
It looks like we're going to have, you know, more time.
It's just like end of summer type thing.
You know. I can't believe I quit a keyword
monkey yesterday, but I'll quote him again.
You know, he said just summer chop.
Just wait. No, you know, but he's very
right on that. I think Goldman Sachs is there's
a, there's a service within banks which is called prime
brokerage where they often do do custody for, for hedge funds.
So it's unclear. I need to look into the actual
filing itself, whether it's this is their wealth management
division, this is out their prime prime brokerage division
or this is perhaps out their trading division.
I actually just don't even know. So maybe I'll look into it.
But it is positive. You're going to see, I'd be more
positive if you started to see big tech institutions start to
have a, a slice of Bitcoin on their balance sheets.
That's when I get really bullish.
It's obvious all the banks are going to get involved.
Like I don't like the marginal bank buying more Bitcoin or
having more on its balance sheet.
I think that's just gradual. If if you were to see one of the
S&P 500 or maybe one of the NASDAQ 100 have Bitcoin on their
balance sheet, that's when I'd be like, OK, you know, we have
micro strategy, but it'd be good to see more and more company.
And Tesla obviously have a have a small holding, But if you saw
one of the magnificent 7 or even just like one of the top 50 tech
stocks also have crypto holdings in their treasury, I think that
would that would really get people bullish.
Yeah, yeah, probably it's just a matter of waiting.
But it's wild. I just realized like I was
looking, it's like 6 months of range now because that range
really started at the very end of February.
So I was looking this morning and I was like, wait, it's been
six months. It's the math, so.
This is the thing about crypto, you have to have a no sleep
season and then you sleep for the rest of it.
Yeah. I mean, know that you you're
like there is a no sleep season where a ton of money is made and
then you just there's six to nine months of everyone just
chopping themselves up and losing a ton of money and then
we all make money again. Good.
So basically, you know, sleep for six months.
So you can, you know, take care of yourself and then no sleep
season and then go back to to sleep season and then no sleep
seasoning. There you go.
It's that simple, you know, and the words of Aidan Ross, buy low
sell high. You know, he's he's Tyler.
You saw that clip, right? I haven't but that that makes
total sense. Let me show you.
I thought it was funny. I like Aidan Ross a lot, by the
way. I just thought that was really
funny. If you guys listen to what I'm
going to say, you're going to make a lot of money, right?
Here's our method that I came up with in stocks and in crypto.
Don't put laughing emojis and shits.
Listen, buy when it's low and sell when it's high, OK?
So like, for example, when ETH hits $4000, sell all your
crypto. When it goes back down in the
2000s, you buy. You understand what I'm saying?
So yeah, thank you, bootleg threat guy, for the advice.
What do you think, Tyler? What do you think of this
market? Deep.
So if we talk to the election, we're talking about nine months
of job. Yeah, it's going to I think this
is probably going to be even worse by then.
But it does feel like, you know, Q4 early.
Q 12025 now seems to be like when we could perhaps see the
next round of catalysts potential legs up.
So like we'll see pockets move, you know, between now and then.
But I feel like that that is a base case does make some sense
to me. Yeah, I guess we'll see where,
where life takes us on on that front.
And I guess we'll keep chopping. So for the next six months and
then then up only in 2025. You know, Kobe did say that next
year is a when the cycle is going to really start.
So, you know, we're we're just going to wait.
Yeah, there you go. Like someone said, I'm buying
resistance and shorting support. Well, there you go.
You know, if, if every time the CT traders get your fork at like
62 K, you sell, you're probably going to make money.
You know, that's what I'm seeing anyways.
Mando, anything else in the market?
I think, I think it's the wrap, right.
I think we think we've gone around.
I don't think there's much more. I think that's.
It for the week, if I'm on in terms of like big data, there's
a retail sales figure which might be indicative of of the
strength in the US economy. But I think, I think we were in
for a little bit of a quiet period now.
Yeah, there's. Where's the next data like?
Let me have a look. I think we go quiet for a little
bit here. The next Yeah, because there's
no FMC this month, right? Since September.
And this was a big week for data.
September 17th and 18th is the next FMC.
There's no FMC. I think there's jobless claims
tomorrow. I don't know if that's like the
key jobless. Yeah, This one's a like there's
always initial jobless claims kind of every week.
But in terms of like the next big stuff, honestly that was it.
Like we have retail sales tomorrow, then next week you
have the FOMC minutes that come out next Wednesday, but that's
basically it. So go chill, you know, go chill.
Yeah, we're we're we're a little, we're a little chill for
now. All right, well, let's pick
someone. Let's pick.
Some NVIDIA results will be the next big thing for the market.
There's only 28th. They're on the 28th of August.
All right, that's two weeks today.
Don't chop yourself in the next for the rest of this month,
y'all, we're going to remind you on the show, but fucking chop
yourself. There's going to be easy season.
You'll probably know when easy season is back.
Like there's always an easy period, like probably second
wave of the bull, like next leg up and, and just just just chop,
chop yourself up. Don't lose your fucking Solana,
Bitcoin, Ethereum or whatever token you're holding and chill.
All right, lads, let's why don't you, why don't you hear, Amanda?
Why don't you tell me when to stop and we'll pick someone to
to win $100 on the show today. Stop.
All right, well, Lucky bonds. Lucky bonds 28.
Yep, they did retweet this way.
Says actually they retweet every day.
So perfect. Lucky Bonds 28 right here for
Sims topic, etcetera. Lucky Bonds 28 Congratulations,
you don't need to come up. Don't worry, you win.
You win $100.00. So make a Robit account and we
will make sure to credit you $100 for being on the show
today. And with that, with that, with
all time flu, it's Laurie 11. What was that?
We're done with that. We'll see y'all tomorrow
morning, 10:00 AM Eastern Standard Time for another
episode of film while we're on rock radio.
Let's go.