1 00:00:01,040 --> 00:00:05,960 Good morning. Good morning, GN, GN, everyone. 2 00:00:24,080 --> 00:00:26,440 I will too close to the mic. I don't think you were too 3 00:00:26,440 --> 00:00:30,760 close, that was just crazy loud. All right, I'm excited. 4 00:00:30,760 --> 00:00:34,920 Today, Friday, February 21st. It's a really good day. 5 00:00:35,560 --> 00:00:40,640 It's Friday, sun is shining, the coins are green, and the SEC has 6 00:00:40,640 --> 00:00:42,960 dropped its case against Coinbase. 7 00:00:43,680 --> 00:00:49,560 The mood on CT, we are so back. Just a few days ago on Monday. 8 00:00:49,560 --> 00:00:54,280 It could not have been more over today on Friday, we are so back. 9 00:00:54,600 --> 00:00:57,840 Of course, the question is, will this rally continue through the 10 00:00:57,840 --> 00:01:02,800 weekend and will Kanye throw a wrench into the plants? 11 00:01:02,800 --> 00:01:04,959 We're going to break it all down on today's show. 12 00:01:05,160 --> 00:01:07,480 Faroque is flying back home today. 13 00:01:07,480 --> 00:01:10,760 He will be back on with us on Monday, but we've got Mando and 14 00:01:10,760 --> 00:01:12,760 Logan in the house. Mando, Jim, how you doing? 15 00:01:13,960 --> 00:01:16,080 How you doing? I am doing fantastic man. 16 00:01:16,960 --> 00:01:23,120 Good to see that the market has come back from peak peak bear 17 00:01:23,120 --> 00:01:26,440 market vibes a few days ago. It's kind of what we said, 18 00:01:26,440 --> 00:01:27,920 different things seem to be rallying. 19 00:01:29,640 --> 00:01:32,480 Definitely feels like a bit of an altcoin season is is starting 20 00:01:32,480 --> 00:01:34,440 to form which I think is very interesting to look at. 21 00:01:35,320 --> 00:01:37,560 It really does. I think we need to dig into that 22 00:01:37,560 --> 00:01:39,920 and see is it real? Is it a bit of a head fake? 23 00:01:41,520 --> 00:01:43,800 Can we trust it or not? So I think folks are very 24 00:01:44,040 --> 00:01:46,240 hesitant to to trust or even to mention it. 25 00:01:46,600 --> 00:01:50,560 I mentioned all season briefly on Twitter, people told me to, 26 00:01:50,560 --> 00:01:53,960 to delete my posts and I did. Wow, what Jake said. 27 00:01:54,240 --> 00:01:56,920 I'm very superstitious. So I did, in fact. 28 00:01:58,520 --> 00:02:02,040 Logie GM, how are you doing? Hey, good morning, Tyler. 29 00:02:02,040 --> 00:02:06,040 Yeah, good morning here. More bullish headlines, what's 30 00:02:06,040 --> 00:02:07,880 not to be excited about? It's warming up a little bit 31 00:02:07,880 --> 00:02:11,680 outside, hopefully the sunshine in today, I'm feeling good. 32 00:02:12,680 --> 00:02:14,400 Warming up, just like the markets. 33 00:02:14,400 --> 00:02:17,000 All right, folks, what are we talking about on today's show? 34 00:02:17,000 --> 00:02:19,040 We're going to start with Mando's market report. 35 00:02:19,320 --> 00:02:23,240 We got to talk about alts cooking, what's going on IP 36 00:02:23,240 --> 00:02:26,520 Barrett, Kaido, Utah passing Bitcoin reserve in the Senate. 37 00:02:26,520 --> 00:02:29,320 We got the SEC dropping their case against Coinbase, the 38 00:02:29,320 --> 00:02:32,120 latest from Kaido and that Kaido token, man, it just keeps 39 00:02:32,120 --> 00:02:36,480 grinding up. Talk about AI, rebounds, NFTS on 40 00:02:36,480 --> 00:02:39,640 a run, on the abstract. Are we actually going to get 41 00:02:39,640 --> 00:02:41,840 this Kanye token? We might. 42 00:02:41,920 --> 00:02:45,440 If we have time we might talk a little bit about punks recent 43 00:02:45,440 --> 00:02:47,960 punk purchases. Oh yeah, wow. 44 00:02:49,200 --> 00:02:54,600 A little around the horn before we dive into although of course 45 00:02:54,600 --> 00:02:59,240 2 robot spins to that two big spins to end the week before we 46 00:02:59,240 --> 00:03:00,960 dive into it. Shout out to our partners. 47 00:03:01,040 --> 00:03:04,960 Galaxis is a Web 3 platform empowering creators and brands 48 00:03:04,960 --> 00:03:08,320 to build unstoppable communities with full ownership and 49 00:03:08,320 --> 00:03:12,640 independence, trusted by icons like Donald Trump, Steve Aoki, 50 00:03:12,920 --> 00:03:15,840 Mike Tyson and the NBA, shaping together the future of 51 00:03:15,880 --> 00:03:18,800 engagement. And everyday we see people's 52 00:03:18,800 --> 00:03:21,440 walls get drained. Fair Side is about to launch the 53 00:03:21,440 --> 00:03:23,480 fair alternative to insurance for crypto scams. 54 00:03:23,720 --> 00:03:26,360 Check out at Fair Side network on X. 55 00:03:26,600 --> 00:03:29,080 If you get drained, you won't be wrecked. 56 00:03:29,440 --> 00:03:31,520 All right, as always, we love our partners Manda. 57 00:03:32,080 --> 00:03:35,200 We love our partners Manda. If you're ready, let's get into 58 00:03:35,200 --> 00:03:49,160 it. Yeah, there's a lot to really 59 00:03:49,160 --> 00:03:51,040 report on. It feels like over the last 24 60 00:03:51,040 --> 00:03:55,720 hours, firstly, Bitcoin kind of headed back up towards the 100K 61 00:03:55,720 --> 00:03:58,360 area, which is kind of unsurprising that bit's been 62 00:03:58,360 --> 00:04:01,040 outperforming for for a little bit now or at least been been 63 00:04:01,040 --> 00:04:05,560 strong for a little bit now. We have seen this is ETH has has 64 00:04:05,560 --> 00:04:11,560 continued to outperform, notably outperforming Solana on the 65 00:04:11,560 --> 00:04:13,920 week. Obviously, if you look at the 66 00:04:13,920 --> 00:04:19,519 three majors over the last weak, I think ETH is up about 4%. 67 00:04:21,079 --> 00:04:22,520 Sorry, just taking a minute here. 68 00:04:23,960 --> 00:04:25,120 Where is it? I'll have to bring up Coin 69 00:04:25,120 --> 00:04:28,800 Gecko. Yeah, ETH is up 4%, Slama's down 70 00:04:28,800 --> 00:04:35,560 10%, and Bitcoin's up 2%. And ETH being up and the market 71 00:04:35,560 --> 00:04:39,480 not dying is the first time I've seen that in a long, long, long 72 00:04:39,480 --> 00:04:42,440 time. And what you started to see is a 73 00:04:42,440 --> 00:04:48,280 little bit of this the foothills, let's say of some of 74 00:04:48,280 --> 00:04:53,800 the ETH related alts or just like more not memes and not AI 75 00:04:53,800 --> 00:04:56,640 and none of this stuff on Solana really like that's bounced, but 76 00:04:56,640 --> 00:04:58,760 like that's not what I'm seeing the majority of the mindshare 77 00:04:58,760 --> 00:05:03,720 moving towards right now. So yeah, it's a it's an 78 00:05:03,720 --> 00:05:05,960 interesting, it's different group of people kind of taking 79 00:05:05,960 --> 00:05:08,200 the forefront. I've seen things on bearer 80 00:05:08,200 --> 00:05:11,280 chain. Obviously some of the newer 81 00:05:11,280 --> 00:05:13,560 coins are doing well, which has been very interesting. 82 00:05:13,560 --> 00:05:16,320 We're like, we didn't have a meta like that until until this 83 00:05:16,320 --> 00:05:19,760 time last year, I think, or maybe even I forget what it was 84 00:05:19,760 --> 00:05:22,200 when like new new launches would do really well. 85 00:05:22,200 --> 00:05:30,680 But you've seen Kaito IP Phantoms rebrand to Sonic. 86 00:05:30,840 --> 00:05:36,000 These have all done pretty well. So yeah, very interesting time. 87 00:05:36,680 --> 00:05:42,920 Yesterday the main mover was was IP story protocol, which you 88 00:05:42,920 --> 00:05:45,920 know, some NFTS still have an air drop too. 89 00:05:45,920 --> 00:05:51,280 So go check your NFTS and that that move is is up around 150% 90 00:05:51,280 --> 00:05:54,560 in in a week. So a a decent move there. 91 00:05:54,560 --> 00:05:57,840 And that was the one that was kind of slightly, you know, had 92 00:05:57,840 --> 00:05:59,400 some FUD around it. Like people didn't really know 93 00:05:59,400 --> 00:06:01,760 what it was about. Was around just for maybe like a 94 00:06:01,760 --> 00:06:04,960 market maker move, market maker LED move there. 95 00:06:04,960 --> 00:06:08,920 But yeah, just people are still wanting to D Gen. 96 00:06:08,920 --> 00:06:10,800 This is kind of what I, I think I was saying before, like 97 00:06:10,800 --> 00:06:15,240 there's so, so much stables on chain right now, but like 98 00:06:15,240 --> 00:06:18,320 there's money to do risky stuff. There's just been a bit of a 99 00:06:18,320 --> 00:06:20,720 paradigm shift to thinking what people are looking for. 100 00:06:21,640 --> 00:06:23,080 That's what that's what I'm starting to see. 101 00:06:24,440 --> 00:06:29,920 And that what I would say as an overarching thing I'm seeing is 102 00:06:29,920 --> 00:06:35,160 the return of D Gen. defy. And I would say the two things 103 00:06:35,160 --> 00:06:40,480 that epitomize that are Berra chain and Sonic Phantom. 104 00:06:42,800 --> 00:06:45,120 Both of these coins are up about 60% in the week. 105 00:06:45,120 --> 00:06:47,720 And actually let me just break, break down Berra chain because 106 00:06:47,720 --> 00:06:54,320 Berra chain, I think people know newer, newer coin L2 with a 107 00:06:54,320 --> 00:06:56,920 bunch of different D5. It's got about 3 to 4 billion of 108 00:06:56,920 --> 00:06:58,840 TDL on it right now. But a bunch of people are on 109 00:06:58,840 --> 00:07:04,040 there D5 farming. It's got like a, a rewards, like 110 00:07:04,040 --> 00:07:05,840 a very active rewards program going on right now. 111 00:07:05,840 --> 00:07:07,320 So a lot of people have been making money on that. 112 00:07:07,920 --> 00:07:12,240 The one that I have been more interested in is, is Sonic 113 00:07:12,360 --> 00:07:15,080 Phantom. If you just type, son, if you're 114 00:07:15,080 --> 00:07:17,600 on Twitter now, just type Sonic into your Twitter, you'll 115 00:07:17,600 --> 00:07:20,680 realize that like pretty silently, this thing's been 116 00:07:20,680 --> 00:07:24,000 going going a big gangbusters recently. 117 00:07:25,600 --> 00:07:29,600 And that's because the TVL has gone from around 550K last month 118 00:07:29,600 --> 00:07:33,160 to around 700 million in the state of the month. 119 00:07:34,480 --> 00:07:39,760 And that had a big tech upgrade. So it's gone from being a pretty 120 00:07:39,760 --> 00:07:45,000 slow chain that was like known as Phantom in 2021, big created 121 00:07:45,000 --> 00:07:48,400 by Andre Cronier, who's like a Defy OG. 122 00:07:49,160 --> 00:07:51,920 And they did this big up upgrade and a raise. 123 00:07:52,000 --> 00:07:57,560 They did a $200 million raise and they, they, the TPS is now 124 00:07:57,560 --> 00:08:00,400 10K. So it's actually fast or if not 125 00:08:00,400 --> 00:08:04,360 faster than Solana at current at current speeds. 126 00:08:04,520 --> 00:08:08,120 So it's it's and it's an E, it's an L1, it's not an L2. 127 00:08:09,080 --> 00:08:14,240 But what I'm seeing is tons of trading activity and TV are 128 00:08:14,240 --> 00:08:17,240 moving to these sort of chains to do crazy stuff. 129 00:08:17,240 --> 00:08:19,720 So like them people have seen the matter seems to have been 130 00:08:20,680 --> 00:08:26,000 NFTS to memes to daily runner style memes. 131 00:08:26,360 --> 00:08:28,720 And now what I'm seeing is like move to D Gen. 132 00:08:28,720 --> 00:08:32,159 D Phi. So like why, why Berra chain and 133 00:08:32,159 --> 00:08:34,559 S are going to phantom a little bit more Sonic. 134 00:08:34,640 --> 00:08:37,480 Now they've got this big rewards program going on till July where 135 00:08:37,480 --> 00:08:43,840 it's like $300 million of rewards till July and you can 136 00:08:43,840 --> 00:08:47,760 get like thousands of percents on on these like D Phi LP's at 137 00:08:47,760 --> 00:08:53,400 the moment. And I'm seeing like and some 138 00:08:54,840 --> 00:08:58,000 move towards there. I'm seeing all the D5 people 139 00:08:58,000 --> 00:09:02,760 talking about it right now, a bunch of Ogs in 2021 all like, 140 00:09:03,440 --> 00:09:05,000 yeah, we're all going to move to Phantom. 141 00:09:05,720 --> 00:09:08,200 And this isn't just like a pump. Like it feels as if there's 142 00:09:08,200 --> 00:09:10,880 actually TVL moving. Like I said, 700 million TBL. 143 00:09:12,400 --> 00:09:15,160 So money is leaving Solana and I think it's finding a place to 144 00:09:15,160 --> 00:09:16,920 degen. That's what I'm saying. 145 00:09:17,040 --> 00:09:19,960 And at the moment it appears to be this sort of stuff. 146 00:09:20,120 --> 00:09:26,360 It appears to be L ones and particularly D5 so, and it'll be 147 00:09:26,360 --> 00:09:30,640 interesting to see if that that actually flows past just defy on 148 00:09:30,640 --> 00:09:35,200 these sort of like D Gen. defy chains to now memes and NFTS and 149 00:09:35,200 --> 00:09:37,080 that sort of stuff. Like what I noticed yesterday is 150 00:09:37,080 --> 00:09:41,200 like the number one meme, for example, on Phantom was was like 151 00:09:41,480 --> 00:09:44,280 in the top movies on my on my deck Screener Screener. 152 00:09:45,240 --> 00:09:46,640 That's what I also had to pick up on it. 153 00:09:46,640 --> 00:09:49,640 I think it's something called. What's it called? 154 00:09:51,640 --> 00:09:58,000 Next. No, it's Shadow's, the D5 155 00:09:58,000 --> 00:10:00,240 protocol. Shadow, to be clear, right now 156 00:10:00,240 --> 00:10:03,080 is the number one D5 protocol on Sonic and it's making as much as 157 00:10:03,080 --> 00:10:06,880 hype over $1,000,000 a day in fees. 158 00:10:06,960 --> 00:10:09,400 So people are going like people are just owning Shadow because 159 00:10:09,400 --> 00:10:13,320 it's it it all the fees are used to for for, for, for that there. 160 00:10:14,560 --> 00:10:18,240 It's called like things with AG, but I'll find it, but it's it's 161 00:10:18,240 --> 00:10:22,200 like 15,000,000 up like 150%. I was like, that is I just see 162 00:10:22,200 --> 00:10:23,360 it. I can just see it now. 163 00:10:23,360 --> 00:10:25,440 Like the last few days I hadn't seen that many sole runners, 164 00:10:25,440 --> 00:10:27,080 although today that that has slightly changed. 165 00:10:27,080 --> 00:10:29,200 But what I'm seeing is other chains and I'll start to pick up 166 00:10:29,200 --> 00:10:32,360 the mantle. And the two or three that seem 167 00:10:32,360 --> 00:10:37,280 to be the strongest right now are story protocol, Dera chain 168 00:10:37,600 --> 00:10:41,320 and Sonic. My the one I'm most interested 169 00:10:41,320 --> 00:10:45,840 in is Sonic just because of the the people moving there and just 170 00:10:45,840 --> 00:10:47,920 because I think it's actually like interesting tech in that 171 00:10:47,920 --> 00:10:52,200 it's, you know, now fast. It's not just an L2, but yeah, 172 00:10:52,200 --> 00:10:54,520 if you just type in Sonic, you'll see like all these people 173 00:10:54,520 --> 00:10:56,520 now suddenly talking about it, right? 174 00:10:59,520 --> 00:11:02,280 So you can, you can kind of feel the foothills of something. 175 00:11:02,280 --> 00:11:06,680 And and this isn't this, this trades a 2.9 billion FTV fully 176 00:11:06,680 --> 00:11:09,720 unlocked like the because it's been unlocked since 2021. 177 00:11:10,080 --> 00:11:16,480 So it's not it's, you know, if you can bet this like Sui, which 178 00:11:16,720 --> 00:11:19,480 is similarly like a fast cheap chain, right? 179 00:11:20,600 --> 00:11:26,920 It trades at 30 billion FTP. It's a it's a little bit 180 00:11:26,960 --> 00:11:29,280 different to look at this chart because that it it like that 181 00:11:29,280 --> 00:11:31,080 upgrade happened last week of December. 182 00:11:31,080 --> 00:11:32,720 You have to look at the phantom chart. 183 00:11:32,720 --> 00:11:36,000 The phantom chart goes back all the way to 2021 and and that 184 00:11:36,080 --> 00:11:39,120 that I think that was at like 4-4 dollars in 2021. 185 00:11:39,120 --> 00:11:43,440 But it begins with an FI. Don't know if I'll show it even 186 00:11:43,440 --> 00:11:44,640 to you because sometimes they don't. 187 00:11:44,960 --> 00:11:48,920 Yeah, they don't. Maybe if you're having Phantom, 188 00:11:49,920 --> 00:11:53,160 just type in Phantom Sonic. I'm sure somebody would have 189 00:11:53,160 --> 00:11:57,920 like onto X onto X, I'm sure somebody would have like done 190 00:11:57,920 --> 00:12:02,280 the whole chart so you can look back and like what it looks like 191 00:12:02,280 --> 00:12:05,400 if yeah, that that's what it looks like essentially. 192 00:12:07,160 --> 00:12:08,920 But yeah, I'm that's what I'm starting to see and it's only 193 00:12:08,920 --> 00:12:13,760 really been over the last 2448 hours that I'm starting to see 194 00:12:13,760 --> 00:12:18,720 that sort of a movement. So overarching feels as though 195 00:12:18,880 --> 00:12:23,520 ether has done outperform and that is causing people to look 196 00:12:23,520 --> 00:12:28,240 away from salon because like the Seoul casino seems to have been 197 00:12:28,240 --> 00:12:29,920 challenged at least for the last week or so. 198 00:12:31,240 --> 00:12:35,080 And and look to other things. So broaden your horizons a 199 00:12:35,080 --> 00:12:36,720 little bit. I think that's what that's what 200 00:12:36,720 --> 00:12:38,800 I was kind of doing for the last few days, looking at different 201 00:12:38,800 --> 00:12:41,000 things. And this is the this is one that 202 00:12:41,680 --> 00:12:43,360 picked up Bear Chain is another one. 203 00:12:43,360 --> 00:12:45,280 Like people are farming all that sort of stuff. 204 00:12:45,280 --> 00:12:49,360 But I feel as though D Gen. Defy might be having might be 205 00:12:49,360 --> 00:12:53,200 the next like Renaissance, like A. 206 00:12:54,360 --> 00:12:57,320 Narrative. And and that like then move back 207 00:12:57,320 --> 00:13:00,480 into things like NFTS and memes on those chains. 208 00:13:00,880 --> 00:13:03,160 That's, that's kind of what I'm what I'm seeing if I'm, if I 209 00:13:03,200 --> 00:13:07,200 take a top down at the moment in terms of bullish stuff, bullish 210 00:13:07,200 --> 00:13:08,840 stuff for crypto, we we did have quite a lot. 211 00:13:08,840 --> 00:13:11,840 It does feel as though the SEC versus Coinbase has been 212 00:13:11,840 --> 00:13:13,240 dropped. I think that was kind of known 213 00:13:13,240 --> 00:13:15,280 for a few days now, if I'm honest, because they they did 214 00:13:15,280 --> 00:13:18,800 pause the lawsuit. The SE CS also allowed yield 215 00:13:18,800 --> 00:13:20,600 bearing stable coins. They obviously had that bullish 216 00:13:20,600 --> 00:13:24,280 thing around Defy yesterday. So their fight against sexes 217 00:13:24,280 --> 00:13:29,360 indexes seems to be like seems to be fading a little bit here, 218 00:13:29,600 --> 00:13:33,440 which again is causing this sort of Defy renaissance I think as 219 00:13:33,440 --> 00:13:35,320 well. Like people thinking they can do 220 00:13:35,320 --> 00:13:37,360 a lot more with, with a lot more of this stuff. 221 00:13:38,040 --> 00:13:41,960 There's some bullish talk about the Bitcoin reserve, Vanek said. 222 00:13:42,880 --> 00:13:46,560 If you buy 1,000,000, if the the US buys $1 million of Bitcoin 223 00:13:46,640 --> 00:13:50,040 for its reserve, it may offset offset $21 trillion of debt. 224 00:13:50,040 --> 00:13:55,200 Although that's, that's with their crazy, crazy estimates. 225 00:13:55,200 --> 00:13:57,280 Well, maybe not crazy, but that's what they're very high 226 00:13:57,280 --> 00:14:00,640 estimates. Arizona, Utah, both both 227 00:14:00,640 --> 00:14:02,440 extended their kind of, they look like they're heading 228 00:14:02,440 --> 00:14:05,320 towards bills around Bitcoin Reserve, which I think was 229 00:14:05,320 --> 00:14:09,600 bullish macro, nothing really going on. 230 00:14:09,640 --> 00:14:12,640 Gold continues to be very, very strong. 231 00:14:13,400 --> 00:14:16,600 But the rest of the markets is kind of a it was kind of 232 00:14:16,600 --> 00:14:20,560 sideways yesterday and it was more like macro political stuff, 233 00:14:20,560 --> 00:14:23,960 so stuff around Ukraine, etcetera, etcetera. 234 00:14:23,960 --> 00:14:26,120 So nothing really did derail us there. 235 00:14:26,120 --> 00:14:28,800 But then yeah, that's, that's just what I'm seeing in the left 236 00:14:28,800 --> 00:14:31,800 curve stuff people like people are liking new new coins. 237 00:14:31,800 --> 00:14:35,440 So new coins are trading very well and and then secondly, this 238 00:14:35,440 --> 00:14:38,360 DJ and D 5 is really is really all over my timeline. 239 00:14:41,160 --> 00:14:45,760 So I agree with you. I'm a little hesitant here. 240 00:14:46,200 --> 00:14:49,840 I'm just wondering is it still early on? 241 00:14:50,680 --> 00:14:54,000 I feel like it's still probably early on Bear train Sonic. 242 00:14:54,240 --> 00:14:56,760 I got I I know like Andy eight O 5 too. 243 00:14:56,760 --> 00:14:59,320 He's been tweeting about it and he had to tweet that pulled up 244 00:14:59,320 --> 00:15:02,400 on the stream. He said entire Sonic ecosystem, 245 00:15:02,400 --> 00:15:05,920 5 XS and then CT starts talking about it basically. 246 00:15:06,240 --> 00:15:10,000 So like in my EX liquidity, if I move over now, but then if 247 00:15:10,000 --> 00:15:15,120 there's $300 million in rewards. Well, I wouldn't, I would say 248 00:15:15,120 --> 00:15:21,080 that that that is true for for Shadow, which is the main decks. 249 00:15:21,080 --> 00:15:24,400 But but Sonic is like I just showed you the chart of Sonic, 250 00:15:24,400 --> 00:15:27,200 right? Like it's not, it's not all. 251 00:15:27,840 --> 00:15:30,680 Time highs, yeah. It's still well, well below 252 00:15:30,680 --> 00:15:32,640 where it could go, right. And it's not like it's some 253 00:15:32,640 --> 00:15:36,920 unbelievably high FTV thing. To put it in perspective, I 254 00:15:36,920 --> 00:15:40,520 think bearer chain is around $1.2 billion current market cap 255 00:15:40,520 --> 00:15:46,320 and around $5 billion FTV. This is 2.9, but it's all 256 00:15:46,320 --> 00:15:49,880 unlocked. And then something like story 257 00:15:49,880 --> 00:15:55,040 protocol I think is like 800 million and like 4 billion FTV. 258 00:15:55,040 --> 00:15:58,040 So like they're all in and around the same area. 259 00:15:59,240 --> 00:16:04,520 But, but like, but but, but, but but Sonic's is, is fully, fully 260 00:16:04,520 --> 00:16:07,160 unlocked. But there's there's no doubt 261 00:16:07,160 --> 00:16:09,920 that like this is a, this is something that I mean, Anson has 262 00:16:09,920 --> 00:16:13,480 been treating talking about Sonic for months and like, it's 263 00:16:13,480 --> 00:16:17,240 kind of been around this level. I'm just saying that now might 264 00:16:17,240 --> 00:16:20,320 be the time where I'm seeing it it gain mind share, like 265 00:16:20,320 --> 00:16:23,960 significant mind share. Yeah, and and people are looking 266 00:16:23,960 --> 00:16:26,360 for the next thing already like we we see how fast the space 267 00:16:26,360 --> 00:16:28,560 moves and folks are ready to move on. 268 00:16:28,560 --> 00:16:32,600 It is wild to think so. This is trading at 2.6 billion 269 00:16:32,600 --> 00:16:35,760 market cap, 2.9 FTB. Kaido is turning at 1.8. 270 00:16:36,000 --> 00:16:42,200 So this chain which is 7th, 6th and overall decks volume is a 271 00:16:42,200 --> 00:16:46,160 just a small premium to an info fi protocol. 272 00:16:46,160 --> 00:16:47,720 Yeah. This is the thing. 273 00:16:47,720 --> 00:16:49,920 Like I don't think you're late to this. 274 00:16:50,240 --> 00:16:53,760 Like, yeah, it's up because there are some Ogs that are in 275 00:16:53,760 --> 00:16:56,520 it for a long time and they'll be like you're late, but but 276 00:16:57,080 --> 00:17:00,400 that's not crazy. Like SUI, like I just told you, 277 00:17:00,400 --> 00:17:05,720 SUI trades at $30 billion FTV, SUI has $1.6 billion TBL. 278 00:17:06,440 --> 00:17:09,319 So like that's and this is 700 million right now. 279 00:17:09,319 --> 00:17:15,520 So it's it's about a difference of two and a bit whether whether 280 00:17:15,520 --> 00:17:18,000 you're late or not, I'm just telling you this is what I'm 281 00:17:18,000 --> 00:17:19,640 this is what I think is is happening. 282 00:17:19,720 --> 00:17:24,760 And I think it may be a bit more of a medium term thing. 283 00:17:25,800 --> 00:17:28,720 I don't think that this is only just begun in my or at least I 284 00:17:28,720 --> 00:17:30,840 had like a week ago. In my opinion, if it if it 285 00:17:30,840 --> 00:17:36,720 really did and if this is going to be more of a meta thing, I 286 00:17:36,720 --> 00:17:37,840 think this is going to be more than just. 287 00:17:39,880 --> 00:17:42,760 I think you're right. I did see this tweet from CBBI. 288 00:17:42,760 --> 00:17:44,360 Want to bring it up. I had it on earlier on the 289 00:17:44,360 --> 00:17:47,120 stream. His theory was that the pumps we 290 00:17:47,120 --> 00:17:51,520 saw yesterday and a handful of coins, specifically Bera IP and 291 00:17:51,520 --> 00:17:55,280 Kaido, so this is phantom excluded, were effectively short 292 00:17:55,280 --> 00:18:00,000 squeezes. And so still kind of trying to 293 00:18:00,000 --> 00:18:04,760 balance like what is what is real organic buying versus, you 294 00:18:04,760 --> 00:18:07,400 know, what might be a different type of game playing. 295 00:18:07,600 --> 00:18:11,560 And Kobe shared a post a few days weeks back saying that it 296 00:18:11,560 --> 00:18:14,600 was somewhat known that some of these teams were working with 297 00:18:14,600 --> 00:18:19,160 funds with, with these give back clauses to inject capital into 298 00:18:19,160 --> 00:18:23,200 their chart basically risk free and. 299 00:18:24,440 --> 00:18:28,160 Sorry, yeah, IP feels like that. Yeah, it does feel like that. 300 00:18:28,400 --> 00:18:32,320 And I no no shade, but like, I don't know that I've seen an alt 301 00:18:33,480 --> 00:18:42,640 go straight parabolic like this. Not not the DWF days yeah, this 302 00:18:42,640 --> 00:18:44,920 feels this one felt like a short squeeze, right. 303 00:18:44,920 --> 00:18:46,560 There's a lot of hate on IP protocol. 304 00:18:46,600 --> 00:18:50,120 Everyone was like like these guys are going to be underwater 305 00:18:50,520 --> 00:18:52,760 on their last round. This isn't defy. 306 00:18:52,880 --> 00:18:56,920 So story protocol has some defy stuff on it, I think, but like 307 00:18:56,920 --> 00:18:59,360 generally this is defy. So this is a very different that 308 00:18:59,360 --> 00:19:01,640 was more like a altcoin short squeeze. 309 00:19:01,800 --> 00:19:04,680 What I'm what I'm seeing elsewhere from that from like D 310 00:19:04,680 --> 00:19:08,680 Gen. activities is. I'd agree. 311 00:19:08,680 --> 00:19:11,800 I think Bear Chain falls into more of the Sonic bucket than 312 00:19:11,800 --> 00:19:14,360 the IP bucket. Also, just a word of warning, I 313 00:19:14,360 --> 00:19:17,680 know it's been increasingly popular for folks to short meme 314 00:19:17,680 --> 00:19:20,240 coins and people don't loudly want to short these new tokens 315 00:19:20,240 --> 00:19:22,120 and launches. Be careful. 316 00:19:22,560 --> 00:19:26,120 Be careful out there. You got to know who you're up 317 00:19:26,160 --> 00:19:30,760 against. Logie, I think the big news from 318 00:19:30,760 --> 00:19:33,280 this morning we got to talk about this a little bit was 319 00:19:33,280 --> 00:19:36,360 Brian Armstrong coming out and saying the SEC has dropped their 320 00:19:36,360 --> 00:19:37,440 case. Do you have a little bit more 321 00:19:37,440 --> 00:19:38,880 info on this one for us? Yeah. 322 00:19:38,880 --> 00:19:43,440 So this stems from the 2000, sorry, 2023 lawsuit from the 323 00:19:43,440 --> 00:19:46,600 SEC, which basically alleged that Coinbase was, you know, 324 00:19:46,600 --> 00:19:52,320 selling unregistered securities And yeah, not a fully approved 325 00:19:52,320 --> 00:19:53,880 and settled at this point in time. 326 00:19:53,880 --> 00:19:56,360 This is Coinbase kind of coming out and saying that they've 327 00:19:56,360 --> 00:20:00,120 agreed with, you know, high-ranking members of the SEC 328 00:20:00,280 --> 00:20:03,240 to drop this suit. It needs an an official approval 329 00:20:03,240 --> 00:20:06,000 basically, which Paul Griewald, the chief legal officer at 330 00:20:06,000 --> 00:20:09,160 Coinbase indicated is expected to happen next week. 331 00:20:09,760 --> 00:20:12,640 So of course, Mando mentioned, you know, some of this might 332 00:20:12,640 --> 00:20:14,920 have been known a little bit earlier this week, but some 333 00:20:14,920 --> 00:20:17,080 euphoria on the timeline. Of course, when the official 334 00:20:17,080 --> 00:20:19,520 stuff starts to trickle down. I imagine we'll get to run it 335 00:20:19,520 --> 00:20:21,080 back a little bit more next week. 336 00:20:21,240 --> 00:20:24,520 If and when that news does officially break, that is kind 337 00:20:24,520 --> 00:20:28,480 of off the table. I, this is of course good news, 338 00:20:28,480 --> 00:20:30,360 right? A few things that I sent to you 339 00:20:30,360 --> 00:20:33,640 Tyler, that stood out to me. I read the, the blog post from 340 00:20:33,640 --> 00:20:37,160 Coinbase this morning about this announcement. 2 particular 341 00:20:37,160 --> 00:20:39,240 sentences. One was about the clarity, 342 00:20:39,240 --> 00:20:40,720 right? Which is something people have 343 00:20:40,720 --> 00:20:43,240 been fighting for, not just Coinbase, but many, many folks 344 00:20:43,240 --> 00:20:45,120 here, particularly in the United States and fighting for 345 00:20:45,120 --> 00:20:47,840 regulatory clarity about, you know, all their offerings, 346 00:20:47,840 --> 00:20:50,360 etcetera. And Coinbase, this is from their 347 00:20:50,360 --> 00:20:53,320 blog says clarity will bring new inflows of capital into the US, 348 00:20:53,320 --> 00:20:56,480 update our financial system so consumers pay lower fees and 349 00:20:56,480 --> 00:20:59,200 help create economic freedom for all sort of blanket statement. 350 00:20:59,200 --> 00:21:00,920 But you know something I think we can all rally behind. 351 00:21:01,160 --> 00:21:05,240 The next thing was, you know, even more bullish for me if you 352 00:21:05,240 --> 00:21:07,760 need to get bowled up if you need to this morning, The very 353 00:21:07,760 --> 00:21:11,080 next sentence was we believe we will eventually get to a point 354 00:21:11,080 --> 00:21:15,680 where the majority of global GDP runs on a crypto rails. 355 00:21:17,280 --> 00:21:19,600 They're they are of course, incentivized to say things like 356 00:21:19,600 --> 00:21:20,880 that. They're the infrastructure that 357 00:21:20,880 --> 00:21:24,560 would help, you know, potentially make that possible, 358 00:21:24,600 --> 00:21:28,160 right. So it doesn't like stem too far 359 00:21:28,160 --> 00:21:32,000 from what you'd expect them to say, but it's just good to see 360 00:21:32,000 --> 00:21:33,840 that. And I was thinking back as I 361 00:21:33,840 --> 00:21:36,800 read that, I was thinking back to Brian Armstrong's quotes at 362 00:21:36,800 --> 00:21:38,640 Davos. Maybe if it was that a month ago 363 00:21:38,640 --> 00:21:41,600 at this point in time, which he indicated, you know, we'll see 364 00:21:41,600 --> 00:21:47,040 multi $1,000,000 Bitcoin and you know, lots of people throw out 365 00:21:47,040 --> 00:21:49,800 outlandish price targets, you know, Vanex etcetera. 366 00:21:49,800 --> 00:21:51,320 You can make up those what you will. 367 00:21:51,640 --> 00:21:54,520 For some reason. This is just personally when I 368 00:21:54,520 --> 00:21:56,880 hear it from people like Coinbase and I hear it from 369 00:21:56,880 --> 00:22:00,000 people like Brian Armstrong, it it just has a little bit more 370 00:22:00,400 --> 00:22:04,480 oomph for me, you know, then then just like Sailor bowl 371 00:22:04,480 --> 00:22:07,280 posting or whatever. So yeah, just take all those 372 00:22:07,280 --> 00:22:08,800 things together. And this is we talked about 373 00:22:08,800 --> 00:22:10,800 earlier this week, Tyler, you know, a lot of these things 374 00:22:10,800 --> 00:22:13,840 feeling like we're going to look back and be like, man, they were 375 00:22:13,840 --> 00:22:15,480 hitting us over the head with all these headlines. 376 00:22:15,480 --> 00:22:18,640 Like it was so obvious. You know, just feels like 377 00:22:18,640 --> 00:22:20,720 another one of those days. It feels like another one of 378 00:22:20,720 --> 00:22:23,400 those days. This pair of headlines from the 379 00:22:23,400 --> 00:22:26,040 SEC from these last two days is very significant. 380 00:22:26,840 --> 00:22:31,520 So they launched a crypto crime fighting unit to focus on real 381 00:22:31,520 --> 00:22:35,080 fraud across cybersecurity, across blockchain. 382 00:22:36,240 --> 00:22:39,880 And then the next day the news comes out that they've dropped 383 00:22:39,880 --> 00:22:42,320 their, their case against Coinbase so that they're 384 00:22:42,320 --> 00:22:45,880 dropping the fluff and they're focusing on more true fraud. 385 00:22:46,440 --> 00:22:48,320 And like, this is exactly what we needed. 386 00:22:48,680 --> 00:22:52,920 Like the, I was very tired, to say the least of the crime 387 00:22:52,920 --> 00:22:56,720 season posts just running rampant across CT. 388 00:22:56,760 --> 00:22:59,480 And then we, we've seen what, what's happened with that. 389 00:23:01,920 --> 00:23:03,840 I don't think I think crime season's over. 390 00:23:05,480 --> 00:23:07,680 Well, Speaking of that, it looks like five years has been hacked. 391 00:23:08,720 --> 00:23:12,920 Oh geez Louise. Have you seen this five? 392 00:23:12,920 --> 00:23:16,480 It hacked for $1.5 billion. That's why the market is 393 00:23:16,480 --> 00:23:18,640 currently selling off guys. Sorry. 394 00:23:23,560 --> 00:23:27,000 Yeah, looks like their hot wallet just got hacked for $1.5 395 00:23:27,000 --> 00:23:29,400 billion ETH and it's being dumped on chain. 396 00:23:30,360 --> 00:23:33,800 I don't know if that's part of a broader hack, but yeah, not a 397 00:23:33,800 --> 00:23:36,680 good look. Oh no, this is exchange out. 398 00:23:37,240 --> 00:23:41,000 There probably. Welcome to Friday's in crypto 399 00:23:41,000 --> 00:23:47,840 where we feel so good and then I have as I'm trying to find the 400 00:23:47,840 --> 00:23:51,800 the tweets here folks bear with me. 401 00:23:55,120 --> 00:23:57,040 I've been official hot wallet hacked. 402 00:23:57,640 --> 00:24:02,800 It's a multi sig 1.5 billion man. 403 00:24:04,600 --> 00:24:07,720 How's that even possible? I mean it can only really be 404 00:24:07,720 --> 00:24:11,200 private keys being being being fished. 405 00:24:11,320 --> 00:24:17,320 I think 1.5 billion is is pretty big I think for buybit if I'm 406 00:24:17,320 --> 00:24:18,760 honest. I know they probably make a lot 407 00:24:18,760 --> 00:24:25,800 of money but yeah, not a good look anyway. 408 00:24:25,840 --> 00:24:27,840 I mean, it's, it's caused a little bit of a dump. 409 00:24:29,720 --> 00:24:32,520 It's obviously dropped like 1 or 2% looks like. 410 00:24:33,640 --> 00:24:37,520 Terrible. Bitcoin, similarly, has moved 411 00:24:37,520 --> 00:24:43,760 about a percent and 1/2 Solana down a bit, yeah. 412 00:24:44,800 --> 00:24:46,440 We're definitely selling off here. 413 00:24:48,720 --> 00:24:50,720 I mean, it's not a good look, but vibe it is probably the 414 00:24:50,720 --> 00:24:54,120 second biggest exchange in terms of volume out there. 415 00:24:54,280 --> 00:24:58,200 It's huge in Asia and you don't know, like if they've been 416 00:24:58,200 --> 00:24:59,960 hacked for that, they've been hacked for any of the other 417 00:25:00,320 --> 00:25:06,920 wallets that they have, yeah. All right, well, we'll see if 418 00:25:06,920 --> 00:25:11,280 more information comes out about this during the show. 419 00:25:14,680 --> 00:25:16,880 Hate to see it. Crime season, man. 420 00:25:17,320 --> 00:25:21,040 I was just getting bowled up. I, I was just calling for the 421 00:25:21,040 --> 00:25:24,280 end of crime season than a major exchange tax. 422 00:25:24,280 --> 00:25:29,200 So there you have it. Let's move on, maybe talk about 423 00:25:29,200 --> 00:25:31,120 something a little bit lighter and then we'll, we'll circle 424 00:25:31,120 --> 00:25:34,360 back if we need to. Logie, you haven't had a chance 425 00:25:34,360 --> 00:25:35,800 to really. We talked about Kaido on 426 00:25:35,800 --> 00:25:40,600 Wednesday ahead of the AirDrop. I was on with OV yesterday and 427 00:25:40,600 --> 00:25:42,880 this thing's trading at almost $2.00. 428 00:25:43,280 --> 00:25:47,440 It's $1.92 right now. That's 1.9 billion FTV. 429 00:25:47,440 --> 00:25:51,880 The market cap's nearly half, half a billion at 460 million. 430 00:25:53,560 --> 00:25:56,040 I showed you yesterday that I sold some of my tokens after the 431 00:25:56,040 --> 00:25:59,840 air drop, much lower than it is right now at this level. 432 00:26:00,640 --> 00:26:06,920 I think this is $35 per app. They paid out to the folks who 433 00:26:06,920 --> 00:26:09,760 didn't get nerfed, and some folks got even more than that. 434 00:26:09,840 --> 00:26:13,640 Like that, very early joiners, those who actually subscribe to 435 00:26:13,640 --> 00:26:19,360 the service got upwards of 40 to $50 per per app. 436 00:26:22,960 --> 00:26:24,360 This, this chart is surprising to me. 437 00:26:24,360 --> 00:26:25,520 This is not how I thought it would play out. 438 00:26:25,520 --> 00:26:29,200 I'm very happy to see it. We got some news out of the 439 00:26:29,200 --> 00:26:33,360 Kaido team this morning. Actually a lot of news. 440 00:26:33,360 --> 00:26:38,720 So one, they used royalties to sweep the Genesis sanities. 441 00:26:39,680 --> 00:26:43,240 Those rallied 80% back to three ETH. 442 00:26:43,680 --> 00:26:46,160 I think they were down in the ones for a little bit. 443 00:26:46,160 --> 00:26:50,920 Yesterday we had you who come out and say they are going to 444 00:26:50,920 --> 00:26:53,640 prioritize NFT owners and stakers. 445 00:26:53,640 --> 00:26:56,280 I think there was a 70% APR on staking. 446 00:26:58,520 --> 00:27:03,120 But it it seems like they're heavily trying to prioritize, 447 00:27:03,120 --> 00:27:07,280 reward those who hold the token, stake it as well as the Mt 448 00:27:07,280 --> 00:27:08,600 owners. Just curious for your thoughts 449 00:27:08,600 --> 00:27:12,960 reactions here now that we are about a full 24 hours post 450 00:27:12,960 --> 00:27:16,880 launch. Yeah, it's well, it's a little 451 00:27:16,880 --> 00:27:21,000 surprising to see. I think this, this price at this 452 00:27:21,000 --> 00:27:22,720 point in time, I mean like yesterday when we were talking 453 00:27:22,720 --> 00:27:26,960 about it, those pre markets at like what 1.2 to 1.4 even at you 454 00:27:26,960 --> 00:27:29,440 know, down to one or whatever. It didn't seem completely 455 00:27:29,440 --> 00:27:32,240 outlandish just given the overall excitement about, you 456 00:27:32,240 --> 00:27:36,640 know, what was coming, some of the buzzwords here, right, AI, 457 00:27:36,800 --> 00:27:38,560 all that stuff, all those alignments. 458 00:27:38,560 --> 00:27:41,680 So that didn't seem super outrageous to me. 459 00:27:41,840 --> 00:27:45,440 I still, I guess just a little uncertain as to what the future 460 00:27:45,440 --> 00:27:47,240 looks like. Of course, you know, all these 461 00:27:47,240 --> 00:27:51,120 things they want to be super long term, they want to be very 462 00:27:51,120 --> 00:27:54,240 aligned, Kaido aligned. That was mentioned like 3 or 4 463 00:27:54,240 --> 00:27:57,360 times in the tokenomics and, and in other tweets and things I saw 464 00:27:57,360 --> 00:28:00,680 from the team yesterday. I just, I just don't know what's 465 00:28:00,680 --> 00:28:05,000 what's here moving forward. I mean, I feel like a lot of 466 00:28:05,000 --> 00:28:09,480 what's been shared has been a little bit shrouded in 467 00:28:09,480 --> 00:28:12,960 ambiguity, a little bit shrouded in buzzwords, and there's still 468 00:28:12,960 --> 00:28:15,800 uncertainty about like what those revenues and things look 469 00:28:15,800 --> 00:28:19,120 like. I don't know. 470 00:28:19,320 --> 00:28:21,600 I don't know what to say. I mean, it doesn't surprise me 471 00:28:21,600 --> 00:28:25,520 at all to see where it didn't surprise me. 472 00:28:25,520 --> 00:28:27,600 I should say, to see the price where it was yesterday. 473 00:28:27,760 --> 00:28:31,720 It would surprise me to see it continue to rally, I don't know, 474 00:28:31,720 --> 00:28:34,160 2 billion, three billion 4, but whatever like that, that would 475 00:28:34,160 --> 00:28:37,120 be a little surprising without a bit more insight into like 476 00:28:37,120 --> 00:28:40,320 what's actually going on here in the future, right, 'cause all we 477 00:28:40,320 --> 00:28:44,680 saw were those rumblings about the kind of decentralized Google 478 00:28:44,680 --> 00:28:46,560 type thing, right? So. 479 00:28:47,320 --> 00:28:50,760 Yeah, I mean, I'm not certain I'm surprised to see it at 1.9 480 00:28:50,760 --> 00:28:55,000 billion FTV here and that's shout out to them. 481 00:28:55,000 --> 00:28:58,200 That is an incredible launch. It is not easy to to launch your 482 00:28:58,280 --> 00:29:00,320 your protocols token and get to $2 billion. 483 00:29:00,920 --> 00:29:04,040 Amanda, I know you've been someone at arm's length to this. 484 00:29:05,040 --> 00:29:07,760 Curious if you have any reactions on Kaido. 485 00:29:08,000 --> 00:29:10,160 You know, perhaps the vision or kind of the lack of some 486 00:29:10,160 --> 00:29:12,440 information they've shared because like they really haven't 487 00:29:12,440 --> 00:29:15,920 shared much with respect to, you know, how they're generating 488 00:29:15,920 --> 00:29:17,040 revenue. We still don't really have a 489 00:29:17,040 --> 00:29:18,640 whole lot of detail about their vision. 490 00:29:19,160 --> 00:29:21,240 Curious if you have to take. And they have a subscription 491 00:29:21,240 --> 00:29:24,240 model. Do that's certainly one aspect 492 00:29:24,240 --> 00:29:27,880 of their and I'd say that's probably the primary aspect new 493 00:29:27,880 --> 00:29:30,600 generation and then you can assume that perhaps they're 494 00:29:30,600 --> 00:29:34,560 monetizing those pre tge projects who get on the 495 00:29:34,560 --> 00:29:36,000 launchpad in some. Yeah. 496 00:29:36,000 --> 00:29:38,360 So I think, I think that's partly it like that there's 497 00:29:38,360 --> 00:29:42,240 obviously been a social layer to to to drops for a while. 498 00:29:43,240 --> 00:29:46,640 Things like layer three are very well known companies here which 499 00:29:46,640 --> 00:29:51,640 have raised a very high valuations before this seems to 500 00:29:51,640 --> 00:29:56,960 maybe web three that whole thing and potentially like, yeah, 501 00:29:56,960 --> 00:30:02,360 people actually get revenue from from their social yeah, their 502 00:30:02,360 --> 00:30:05,280 social score essentially doing doing doing different things. 503 00:30:05,280 --> 00:30:11,120 So I think that being said, like I that is completely finger in 504 00:30:11,120 --> 00:30:14,280 the air sort of stuff like this could have come at lots of 505 00:30:14,280 --> 00:30:16,640 different levels. In my opinion, no one would 506 00:30:16,640 --> 00:30:20,760 really have known. So I think let's see, let's see 507 00:30:20,760 --> 00:30:24,840 where it where it all ends up. I can't say it looks cheap or or 508 00:30:24,840 --> 00:30:27,680 expensive at at this level until I know a little bit more. 509 00:30:27,720 --> 00:30:32,080 But new new mints are trading new new coins are trading very, 510 00:30:32,080 --> 00:30:34,520 very well. So it could just it could just 511 00:30:34,520 --> 00:30:38,240 be part of that, that whole meta this, this vibrant things. 512 00:30:38,480 --> 00:30:40,680 I, I I think we should really talk about it a bit more here. 513 00:30:40,680 --> 00:30:46,440 Like it looks like Zac XPT is is confirming that this is a this 514 00:30:46,440 --> 00:30:49,240 is a hack. There were some rumours that 515 00:30:49,240 --> 00:30:53,120 this made us be a movement. Looks like the market is is 516 00:30:53,120 --> 00:30:54,600 really not reacting well to it now. 517 00:30:54,640 --> 00:30:59,680 I don't know if they have anything else tackets BTS yeah, 518 00:30:59,680 --> 00:31:01,200 confirm it's a security incident. 519 00:31:02,920 --> 00:31:09,640 It's it's mainly just affecting ETH and stake DEET, it looks 520 00:31:09,640 --> 00:31:13,520 like. But yeah, we haven't had one of 521 00:31:13,520 --> 00:31:17,080 these for a long time and the market is not liking it at all. 522 00:31:18,680 --> 00:31:20,760 Where? Sorry I'm looking for the tweet. 523 00:31:20,760 --> 00:31:24,600 Is it a reply or what? I I just got an alert that Zack 524 00:31:24,600 --> 00:31:26,600 XPT has confirmed it. May be it's in his discord. 525 00:31:26,600 --> 00:31:28,680 I know he has his own like community right? 526 00:31:29,960 --> 00:31:32,880 All right, just trying to look for more content live on the 527 00:31:32,880 --> 00:31:37,640 show here, folks, Bear with us by bits Reportedly hacked for 528 00:31:37,640 --> 00:31:42,280 1.5 billion. Yeah, this is huge. 529 00:31:43,120 --> 00:31:45,720 Very negative. Oh, so we we had this up 530 00:31:45,720 --> 00:31:48,680 already. I don't, I don't know how big 531 00:31:48,680 --> 00:31:52,320 buy bits. I mean, I can only assume that 532 00:31:52,320 --> 00:31:56,200 they have enough money to cover this like, but one point 1.5 533 00:31:56,200 --> 00:32:01,560 billion, like that's the sort of hole that FDX was in 3 billion 534 00:32:01,560 --> 00:32:03,440 hole. But like you, I mean, I think 535 00:32:03,560 --> 00:32:07,960 buy bits are not capitalized like FDX is, but like that's if 536 00:32:07,960 --> 00:32:10,200 you lose 1.5 billion, you lose $1.5 billion. 537 00:32:10,200 --> 00:32:12,320 Like that's not not small at all. 538 00:32:14,960 --> 00:32:17,280 Yeah. So 1.5 billion in end users 539 00:32:17,280 --> 00:32:23,840 funds potentially gone 400,000 ETH. 400,000 ETH Where is that 540 00:32:23,840 --> 00:32:28,600 gone? Worth $1.1 billion. 541 00:32:33,160 --> 00:32:35,760 Let's see if there's. Yeah. 542 00:32:36,360 --> 00:32:38,320 I mean, I guess you can just put through tornado these days, 543 00:32:38,320 --> 00:32:45,040 right, But. Yeah, I guess I don't, I'm not 544 00:32:45,040 --> 00:32:49,160 even familiar with how you necessarily exit this or or how 545 00:32:49,160 --> 00:32:55,440 you get away with these funds. I'm trying to. 546 00:32:56,440 --> 00:32:59,680 Just as a I'm not sure if any of the listeners use bibit, but I'm 547 00:32:59,680 --> 00:33:03,200 I'm seeing some people on the timeline indicate that they are 548 00:33:03,200 --> 00:33:08,200 getting withdrawals through. So yeah, I guess that first call 549 00:33:08,200 --> 00:33:13,400 to action is if you're a bibit user, get a hold of your funds. 550 00:33:15,520 --> 00:33:17,920 This guy's saying misleading flood planned wallet 551 00:33:17,920 --> 00:33:20,920 maintenance. No, it's not, Zach Expertise 552 00:33:20,920 --> 00:33:23,320 confirming that it is. So it is confirmed hack. 553 00:33:33,520 --> 00:33:35,320 All right, yes, here's the confirmation from Zach. 554 00:33:35,320 --> 00:33:37,280 So it looks like it is in his discord. 555 00:33:38,160 --> 00:33:42,800 ME steak teeth currently being swapped on Dexes for ETH. 556 00:33:43,200 --> 00:33:45,200 His sources confirm it's a security incident. 557 00:33:46,560 --> 00:33:53,280 Damn, maybe that's, I mean, finance in the past has come 558 00:33:53,280 --> 00:33:54,600 through to help some of these exchanges. 559 00:33:54,600 --> 00:33:59,720 So is so is, so is Justin's son. So maybe we're going to see 560 00:33:59,720 --> 00:34:02,120 someone come in and and try and help. 561 00:34:02,120 --> 00:34:04,640 I bet here this is this wouldn't be good for the industry, you 562 00:34:04,640 --> 00:34:06,040 know what I mean? Right. 563 00:34:09,199 --> 00:34:14,120 Yeah, I mean. I mean, we're not nuking 564 00:34:14,320 --> 00:34:23,280 bitcoins form three 2% it looks like, it looks like it looks 565 00:34:23,480 --> 00:34:28,560 like Solana's down to 170. So that's down about yeah, 4 or 566 00:34:28,560 --> 00:34:31,760 5%. Ethi, interestingly, it's 567 00:34:31,760 --> 00:34:34,920 actually it's down only about 3 or 4%. 568 00:34:34,920 --> 00:34:37,239 So it's not not getting absolutely destroyed here. 569 00:34:38,280 --> 00:34:40,080 It's about that being the asset that's selling but. 570 00:34:40,800 --> 00:34:46,159 Yeah, it's down about $100. It's 2825, right before this 571 00:34:46,159 --> 00:34:49,520 news broke. Now 2729 A. 572 00:34:51,719 --> 00:34:53,719 Lot of money's going to leave exchanges here though, guys. 573 00:34:54,000 --> 00:34:58,320 Yeah, I think this is. I wonder if this is a part of 574 00:34:58,320 --> 00:35:00,880 the the Coinbase discussion I wanted to have before this broke 575 00:35:01,160 --> 00:35:06,120 was and that the future of their business model as a sex in the 576 00:35:06,120 --> 00:35:08,440 world where banks are going to start custody and crypto. 577 00:35:09,320 --> 00:35:11,480 Like I feel like this is the type of headline that just 578 00:35:11,480 --> 00:35:15,320 pushes everyone to say like, OK, I'm just going to hold crypto 579 00:35:15,320 --> 00:35:19,440 with with my bank if I can. Yeah, aren't they? 580 00:35:19,560 --> 00:35:21,880 Aren't they? I mean, they're prone to the 581 00:35:21,880 --> 00:35:23,480 same potential issue though. Depends. 582 00:35:24,480 --> 00:35:28,440 Whether they custody, yeah, yeah, arguably I think the 583 00:35:28,440 --> 00:35:31,480 institutional might be, might be have to have stringent, more 584 00:35:31,480 --> 00:35:36,440 stringent custody services, but I don't know like I have no idea 585 00:35:36,440 --> 00:35:37,480 about this wallet. It's called a bynet. 586 00:35:37,520 --> 00:35:39,160 It's called the by bit hot wallet, So. 587 00:35:40,840 --> 00:35:42,800 The raises the question of why? Why paper would have a? 588 00:35:43,280 --> 00:35:45,000 Is that our it's like our hot wallet where you're like 589 00:35:45,000 --> 00:35:47,160 degenning with it. I I have no idea. 590 00:35:49,600 --> 00:35:53,880 You've got to assume it has a it has a it has multi cigs on it 591 00:35:53,880 --> 00:35:57,120 like this. This would only really be the 592 00:35:57,120 --> 00:36:02,520 North Koreans, I imagine. And it would be similar, I would 593 00:36:02,520 --> 00:36:06,960 say to like the Ronin hack, you know, two years ago where they 594 00:36:06,960 --> 00:36:10,840 managed to like do a fake job interview and, and install 595 00:36:10,840 --> 00:36:14,560 malware and all this sort of stuff like this isn't small. 596 00:36:14,840 --> 00:36:17,400 The the real hope is that, you know, other wallets haven't been 597 00:36:17,400 --> 00:36:20,520 compromised. I'm sure Biba has a lot more 598 00:36:20,600 --> 00:36:24,280 assets. It may not have than 1.5 599 00:36:24,280 --> 00:36:26,440 billion. Yeah, one type. 600 00:36:26,880 --> 00:36:31,200 I'm curious what type of do they have any insurance mechanisms 601 00:36:31,200 --> 00:36:35,280 like our our funds insurance? What does Coinbase have? 602 00:36:35,280 --> 00:36:36,680 Are we going to go up to 100,000? 603 00:36:37,480 --> 00:36:39,600 Yeah, but that's only if you're a prime customer. 604 00:36:39,640 --> 00:36:42,160 Like you have to pay the 35 bucks a month or whatever. 605 00:36:42,160 --> 00:36:44,040 It'd be a prime customer. And I think it, yeah, I think 606 00:36:44,040 --> 00:36:47,600 the number is 100,000. I have no clue how it works in 607 00:36:47,800 --> 00:36:50,720 buy bid is. What is that South Korea? 608 00:36:50,720 --> 00:36:52,720 Singapore. I'm not exactly sure where 609 00:36:52,720 --> 00:36:57,960 they're headquartered but. Like Singapore, yeah, I think, I 610 00:36:58,160 --> 00:36:59,360 think that it won't come to that. 611 00:37:00,160 --> 00:37:03,600 I don't think the users will lose money here like this feels 612 00:37:03,600 --> 00:37:06,160 like not a bad actor sort of thing. 613 00:37:06,960 --> 00:37:10,440 I reckon people would come in and and save them if you needed 614 00:37:10,440 --> 00:37:13,720 to here. Like the the the last big hack 615 00:37:13,720 --> 00:37:16,320 we had in the exchange was was Xerax, which is that like the 616 00:37:16,320 --> 00:37:20,960 number one exchange in India, which got hacked similarly by by 617 00:37:20,960 --> 00:37:24,520 the North Koreans and I think users got about like 80% of 618 00:37:24,520 --> 00:37:27,200 their funds. But but obviously much smaller 619 00:37:28,400 --> 00:37:33,080 than than vibe it like this. Yeah. 620 00:37:34,680 --> 00:37:36,680 Not fun to see. It looks like Ethan's continuing 621 00:37:36,680 --> 00:37:40,160 to dip here, so deck down to about to lose 2700. 622 00:37:40,520 --> 00:37:42,840 I imagine we'll get a pretty good post mortem here. 623 00:37:42,840 --> 00:37:44,880 Hasn't Vibe have been they've been leading the charge kind of 624 00:37:44,880 --> 00:37:47,720 on the transparency fund with regards to the liquidations and 625 00:37:47,720 --> 00:37:50,280 stuff, right? They just did that API update 626 00:37:50,280 --> 00:37:53,480 with coin glass and such. Remember, I I believe it was the 627 00:37:53,480 --> 00:37:57,800 Bibit CEO, maybe CEO founder that came out and said that that 628 00:37:57,800 --> 00:38:00,080 big, big liquidation, the biggest one ever, right? 629 00:38:00,080 --> 00:38:03,240 It was closer to 10 billion as compared to 2 billion or 630 00:38:03,240 --> 00:38:05,920 something like that. So yeah, hope, hopefully in in. 631 00:38:05,960 --> 00:38:08,320 The he's he's pretty well blown. Yeah. 632 00:38:08,360 --> 00:38:15,960 He's like, he's pretty public as a figure, but I don't know who 633 00:38:16,440 --> 00:38:18,520 there's multiple owners of it of of bibit. 634 00:38:20,920 --> 00:38:22,360 Yeah. I'm just hopeful, you know, in 635 00:38:22,360 --> 00:38:25,160 the vein of transparency, which they've leaned into here in the 636 00:38:25,160 --> 00:38:27,920 last couple weeks, that we'll get like a really good breakdown 637 00:38:27,920 --> 00:38:29,640 of exactly what happened, hopefully. 638 00:38:30,400 --> 00:38:32,840 Yeah, yeah, I, I, I would reckon so. 639 00:38:34,480 --> 00:38:38,680 Yeah, and hopefully soon. So the majors continue to fall 640 00:38:38,680 --> 00:38:42,800 here. Bitcoin 97250 E just lost 2700. 641 00:38:44,800 --> 00:38:50,360 Oh it's going fast now I'm seeing 26. 642 00:38:50,920 --> 00:38:56,240 What is it on hype? Stocks are also dropping, which 643 00:38:56,600 --> 00:38:59,960 you know, wouldn't be related to this I don't think, but probably 644 00:38:59,960 --> 00:39:02,480 playing a role all. Right, I'm still seeing 20 645 00:39:02,480 --> 00:39:04,360 something hyper. Hyper is a little. 646 00:39:06,720 --> 00:39:10,600 Well, I think a lot of hyper liquid bulls are like, I mean, I 647 00:39:10,600 --> 00:39:14,160 see the timeline of of people who are hyper liquid bulls, like 648 00:39:14,240 --> 00:39:16,920 being happy almost about this are like finding it funny 649 00:39:16,920 --> 00:39:19,760 because obviously this they've been questioned for a lot of 650 00:39:19,760 --> 00:39:23,600 this sort of stuff by these big perp sexes. 651 00:39:25,280 --> 00:39:30,560 So to see vibe it go down like this, I think is people might 652 00:39:30,560 --> 00:39:33,080 buy hyper liquid, so to speak, like if you were a big perp 653 00:39:33,080 --> 00:39:35,520 trader, which is what vibe is really known for. 654 00:39:35,520 --> 00:39:37,760 It does a lot of spot, but it's mainly known for perps. 655 00:39:39,720 --> 00:39:40,840 Maybe you're moving to hyper liquid? 656 00:39:42,400 --> 00:39:45,760 Looks like we're seeing a slight rebound, so Bitcoin back 975 E 657 00:39:45,760 --> 00:39:50,160 2720. The main, the main risk here 658 00:39:50,160 --> 00:39:52,480 would just be if there's other wallets which are compromised. 659 00:39:52,480 --> 00:39:54,480 I don't think there's a risk. I mean, I would say there's a 660 00:39:54,480 --> 00:39:57,600 very limited risk of, of buy bit being insolvent or something 661 00:39:57,600 --> 00:39:59,640 like that. Like this would be very, very 662 00:39:59,640 --> 00:40:03,560 painful for them. But so they've sold 200 million, 663 00:40:03,560 --> 00:40:05,400 it looks like of the 1.5 billion. 664 00:40:06,880 --> 00:40:10,440 So I think that's probably why it's selling off because there's 665 00:40:10,440 --> 00:40:16,160 still 1.3 billion to sell. Other folks seeing it, it's 666 00:40:16,160 --> 00:40:19,600 trying to front run. It's probably a a part of this 667 00:40:20,120 --> 00:40:22,120 as well. Yeah. 668 00:40:23,440 --> 00:40:25,440 Ben Zhao just posted Yeah. Yeah. 669 00:40:25,600 --> 00:40:27,400 Can you? Send me the link to that. 670 00:40:28,120 --> 00:40:32,920 Yep, one SEC coming in, Tyler. Real quick while we wait folks. 671 00:40:32,920 --> 00:40:36,760 So we are still doing real bits. Ben's Coinbase is the code for 672 00:40:36,760 --> 00:40:38,760 today. Coinbase is the code. 673 00:40:38,760 --> 00:40:41,160 We'll probably be doing that in about 10 minutes here. 674 00:40:42,040 --> 00:40:44,520 Appreciate everyone sticking on with us during this developing 675 00:40:44,520 --> 00:40:47,200 situation. He's downplaying it but it 676 00:40:47,200 --> 00:40:48,840 sounds I don't really understand what he's saying. 677 00:40:48,840 --> 00:40:52,560 He's saying fiber ETH multi sig cold wallet Just made a transfer 678 00:40:52,560 --> 00:40:54,440 to our warm wallet about an hour ago. 679 00:40:54,440 --> 00:40:56,160 So they made a transfer from their cold wallet to their warm 680 00:40:56,160 --> 00:40:58,200 wallet. It appears that this specific 681 00:40:58,200 --> 00:41:00,600 transfer was musked. I don't know what that means. 682 00:41:00,880 --> 00:41:04,760 All the signers saw the Musk UI which showed the correct address 683 00:41:04,760 --> 00:41:08,720 and URL was from ATSAFE so they were using a notice to say. 684 00:41:08,880 --> 00:41:11,680 However, the signing message was to change the smart contract 685 00:41:11,680 --> 00:41:17,160 logic of our ETH cold wallet. So for some reason they signed 686 00:41:17,160 --> 00:41:19,320 something which changed the logic of their cold wallet. 687 00:41:19,760 --> 00:41:22,400 This resulted this resulted hacker took control of the 688 00:41:23,160 --> 00:41:26,000 specific ETH cold wallet we signed and transferred all the 689 00:41:26,160 --> 00:41:29,000 ETH in the cold wallet to his unidentified address. 690 00:41:29,000 --> 00:41:31,840 So basically, they must have signed something on their cold 691 00:41:31,840 --> 00:41:35,200 wallet which meant a hacker could take control of it. 692 00:41:35,840 --> 00:41:38,680 And he has. He has moved it to his own 693 00:41:38,720 --> 00:41:41,680 funds. Ben Zhao has ended this for 694 00:41:41,680 --> 00:41:43,800 saying all withdrawals are normal. 695 00:41:43,800 --> 00:41:47,480 Please rest assured that all other cold wallets are secure. 696 00:41:48,480 --> 00:41:52,320 Oh baby, Can you imagine? Can you imagine their wrist 697 00:41:52,320 --> 00:41:55,640 department right now? We signed something. 698 00:41:55,840 --> 00:41:57,360 We signed something wrong on my Ledger. 699 00:41:57,720 --> 00:42:04,360 They signed it. And you like an injection thing? 700 00:42:04,960 --> 00:42:07,640 What is masked? I don't know, I don't know the 701 00:42:07,640 --> 00:42:10,440 term masked and I've been in crypto for a while now. 702 00:42:10,440 --> 00:42:17,840 So, so maybe somebody else sent a potential, I just don't, I 703 00:42:17,840 --> 00:42:23,040 honestly don't know. So this is this interesting. 704 00:42:23,040 --> 00:42:24,840 Do you think, do you think he means masked? 705 00:42:24,880 --> 00:42:27,760 And it's masked as a hidden UI. So it looks like it's a legit 706 00:42:27,760 --> 00:42:30,360 signature and it's they put it by mistake. 707 00:42:30,720 --> 00:42:33,280 Yeah, maybe it does mean masked. Maybe it does mean masked. 708 00:42:36,480 --> 00:42:38,520 Yeah. So, so this doesn't seem like 709 00:42:38,520 --> 00:42:40,920 the Ronin hack. So, so the good thing is is like 710 00:42:40,920 --> 00:42:45,200 they haven't, you know, this isn't like their private keys 711 00:42:45,200 --> 00:42:47,160 have been hacked and they're and they're all screwed. 712 00:42:47,160 --> 00:42:50,720 Like, this does seem like somebody's managed to like send 713 00:42:50,720 --> 00:42:56,680 somehow send them something to sign and they've all signed it 714 00:42:57,320 --> 00:43:02,800 and lost control of the. And customer funds withdrawals 715 00:43:02,800 --> 00:43:05,480 are normal. So some positive here. 716 00:43:05,560 --> 00:43:09,640 It seems localized man. This just also raises the 717 00:43:09,640 --> 00:43:15,240 question like if if the largest exchanges can't safely transact, 718 00:43:17,640 --> 00:43:19,280 it's. Just it is a bit like this 719 00:43:19,280 --> 00:43:21,840 though, like there's so many if you sign the wrong thing you can 720 00:43:21,840 --> 00:43:24,760 just give away. I mean, we saw even an abstract 721 00:43:24,760 --> 00:43:29,520 the other day, like it's so much easier to inject malicious code 722 00:43:29,520 --> 00:43:37,280 into well, seemingly what I always see is this sort of stuff 723 00:43:37,280 --> 00:43:39,640 happens on Eve. I, I rarely see this stuff 724 00:43:39,640 --> 00:43:43,800 happening on Solana, right? Like the idea you can sign 725 00:43:43,800 --> 00:43:46,920 something and it gives unlimited privileges to do other things is 726 00:43:46,920 --> 00:43:53,000 something that I know obviously we're even sponsored by people 727 00:43:53,000 --> 00:43:56,640 that, that, that do help with that, that sort of protection. 728 00:43:57,080 --> 00:44:03,200 But it does feel a little too easy if if if it's being done to 729 00:44:03,200 --> 00:44:05,560 Bob it. Yeah, these are the days when 730 00:44:05,560 --> 00:44:07,920 things like this happen. Like these are the times where I 731 00:44:07,920 --> 00:44:12,040 really sit back and question like, why the hell do we own 732 00:44:12,040 --> 00:44:13,760 this stuff? You know, like the the 733 00:44:13,760 --> 00:44:16,480 immutability and all those pros that it provides. 734 00:44:16,480 --> 00:44:19,560 Like these things are really scary when they happen at at 735 00:44:19,560 --> 00:44:21,800 this level for sure. Like you mentioned. 736 00:44:21,800 --> 00:44:25,760 I mean, this is like these are experts in the space operating 737 00:44:25,760 --> 00:44:29,720 that just got got it's, it's tough. 738 00:44:30,640 --> 00:44:33,760 Yeah, I think the more assets you have, I think you have to 739 00:44:33,760 --> 00:44:36,560 really think about OPSEC, you have to think about splitting 740 00:44:36,560 --> 00:44:38,000 things up. And that makes it harder to 741 00:44:38,000 --> 00:44:39,680 manage. It's like, so I've got a family. 742 00:44:39,680 --> 00:44:42,320 I need to make sure my wife something happens to me, knows 743 00:44:42,320 --> 00:44:44,280 how to access all this stuff. So that means I need to have 744 00:44:44,280 --> 00:44:46,880 this, all the instructions stored somewhere, which is 745 00:44:46,880 --> 00:44:51,680 another risk factor, right? Like it, it, it does paint the 746 00:44:51,680 --> 00:44:58,000 case for investing via the ETFs very, very easily. 747 00:44:58,000 --> 00:45:00,520 And, and I think when banks start cussing this stuff, I 748 00:45:00,520 --> 00:45:02,920 think we're going to see folks who want to use that. 749 00:45:03,560 --> 00:45:06,240 Yeah. Or just have something that like 750 00:45:06,240 --> 00:45:09,000 warns you, I guess with Nosis they probably don't have the 751 00:45:09,000 --> 00:45:13,360 same sort of warning technology. I know Metamask and wallet guard 752 00:45:13,360 --> 00:45:18,240 and all this other stuff is like added like if you're using 753 00:45:18,240 --> 00:45:21,080 Metamask, they'll tell you like, oh, do not sign this. 754 00:45:21,360 --> 00:45:26,560 But I don't know if if if Nosis have have have probably got 755 00:45:26,560 --> 00:45:28,680 that. Well, I mean, the impossible 756 00:45:28,680 --> 00:45:31,320 part there, at least as indicated by Ben, is that the 757 00:45:32,120 --> 00:45:35,560 mast must whatever the UI showed the right address. 758 00:45:35,800 --> 00:45:39,360 Like that's that's terrifying if that's the case. 759 00:45:39,360 --> 00:45:42,120 I mean, how am I? How is anybody supposed to know 760 00:45:42,120 --> 00:45:44,640 if it looks like the right address on your little screen? 761 00:45:44,640 --> 00:45:48,720 Like you're just going to click, you know, unless, yeah, there's 762 00:45:48,720 --> 00:45:52,640 some other way to ensure that it points out something was 763 00:45:52,640 --> 00:45:54,760 injected or whatever. But I mean, if it's showing the 764 00:45:54,760 --> 00:45:56,880 right address and everybody's seeing the right address, 765 00:45:58,040 --> 00:45:59,560 that's, I don't know. I mean, what? 766 00:45:59,560 --> 00:46:05,920 What do you do There's? It's interesting this clearly 767 00:46:05,920 --> 00:46:09,440 something that they don't do that often, but they had told 768 00:46:09,440 --> 00:46:13,400 people they were going to do it. So they had told people in 769 00:46:13,400 --> 00:46:16,760 advance, hey, don't worry, we're doing this. 770 00:46:17,880 --> 00:46:20,920 So if you see any weird movements that that's why you 771 00:46:20,920 --> 00:46:22,600 saw that tweet that said like they told everyone they were 772 00:46:22,600 --> 00:46:24,720 going to do this. So clearly a hacker was was 773 00:46:24,720 --> 00:46:27,240 warned that they were going to do this in the next in the next 774 00:46:27,240 --> 00:46:31,000 day and then like basically prepared this this ahead of 775 00:46:31,000 --> 00:46:32,000 time. It's like. 776 00:46:33,480 --> 00:46:36,200 So the hacker figured out like the exact time they were going 777 00:46:36,200 --> 00:46:39,640 to do the transfer like. Or or must have known that like 778 00:46:39,640 --> 00:46:41,240 it was coming very very soon, so. 779 00:46:42,760 --> 00:46:46,360 I appreciate them trying to Telegraph this in advance just 780 00:46:46,360 --> 00:46:49,960 so people don't get spooked. But I mean, the downside seems 781 00:46:50,720 --> 00:46:53,800 is this. Yeah, Yikes. 782 00:46:54,080 --> 00:46:57,800 Well, we will see what else continues to come out of this. 783 00:46:57,800 --> 00:46:59,840 Just a few minutes left in the show. 784 00:47:01,600 --> 00:47:03,640 I don't know if we'll get any more details here before we 785 00:47:03,640 --> 00:47:06,640 close. Is this going to stop Kanye from 786 00:47:06,640 --> 00:47:10,720 dropping his coin? Of course, the natural seg. 787 00:47:11,400 --> 00:47:15,280 This was all already the risk overhanging the the trenches, 788 00:47:15,720 --> 00:47:19,080 you know, on everyone's mind. So this is no longer private or 789 00:47:19,080 --> 00:47:22,320 rumors or insiders. Coindesk published this story 790 00:47:23,080 --> 00:47:25,200 that there is a planned Kanye token. 791 00:47:25,200 --> 00:47:27,080 It was apparently set to launch last night. 792 00:47:27,080 --> 00:47:31,640 They decided to push it. He's keeping 70% of the tokens, 793 00:47:31,760 --> 00:47:34,200 10% for liquidity, 20% for investors. 794 00:47:36,800 --> 00:47:40,480 So make of that what you will. I will give shout out to 795 00:47:40,480 --> 00:47:45,640 Coindesk for this this headline self-proclaimed Nazi who said 796 00:47:45,640 --> 00:47:48,520 coins prey on fans plans XYZ token it's. 797 00:47:49,760 --> 00:47:51,320 Just the time for Kanye to release the coin. 798 00:47:51,320 --> 00:47:55,200 Like I just feel like. It's the worst possible time to 799 00:47:55,200 --> 00:47:56,960 launch a coin, yeah. It's gone full douchebag 800 00:47:56,960 --> 00:47:59,120 recently. So, so I don't know. 801 00:47:59,200 --> 00:48:00,960 And I'm a big, I was a big Kanye fan. 802 00:48:00,960 --> 00:48:02,240 Like it feels like the guy needs. 803 00:48:03,040 --> 00:48:06,160 I don't know if a coin is going to help the guy's mental state. 804 00:48:06,960 --> 00:48:09,520 That's that's why I, I keep saying the argument that that 805 00:48:09,520 --> 00:48:12,520 he's got such a big fan base and like I'm a huge fan, but like, 806 00:48:12,520 --> 00:48:16,320 I, it doesn't make me want to go out and buy a token and, and we 807 00:48:16,320 --> 00:48:18,400 can always get into like rocket game and can you dump on the 808 00:48:18,400 --> 00:48:19,960 next guy? Maybe, maybe you can. 809 00:48:21,800 --> 00:48:23,840 So we'll see. They pushed it once. 810 00:48:23,920 --> 00:48:26,240 Will they actually deliver it today? 811 00:48:26,240 --> 00:48:28,400 I don't know. Apparently it's going to be live 812 00:48:28,400 --> 00:48:31,160 from his website, so it's not even going to be like a typical 813 00:48:32,120 --> 00:48:33,240 token sale. I don't know. 814 00:48:33,240 --> 00:48:35,600 There's a lot of questions about how this is actually going to 815 00:48:35,600 --> 00:48:38,720 work. Just rounding through things 816 00:48:38,720 --> 00:48:42,760 quickly on a lighter, a lighter note, Abstract had a nice little 817 00:48:42,760 --> 00:48:46,920 win, the unchanged Genesis Heroes NFTS 45X yesterday. 818 00:48:47,920 --> 00:48:50,080 I think Abstracts has an ecosystem that needed some wins, 819 00:48:51,240 --> 00:48:52,920 especially after after this week. 820 00:48:53,000 --> 00:48:56,960 So I think seeing some digital assets have some success on 821 00:48:56,960 --> 00:48:58,680 chain. This tied to one of the leading 822 00:48:58,680 --> 00:49:00,800 games. They've also got a token coming, 823 00:49:01,080 --> 00:49:06,160 the hero token. So excited, excited to see that. 824 00:49:06,520 --> 00:49:09,000 I think we we love that one. Trying to think if there's 825 00:49:09,000 --> 00:49:11,080 anything else. Oh Samus brat shout out to Sam. 826 00:49:11,080 --> 00:49:12,280 We had him on the show yesterday. 827 00:49:14,240 --> 00:49:17,960 He finished his primary sale for the Masks, 2.19 million, raised 828 00:49:18,040 --> 00:49:23,120 overall total 5.19 million. Yeah, well, very well deserved. 829 00:49:23,120 --> 00:49:25,440 The game begins today, folks. I think he's already shared some 830 00:49:25,440 --> 00:49:27,120 more content about how to play. We got some alpha in the 831 00:49:27,120 --> 00:49:30,200 interview yesterday. If you missed that, go back and 832 00:49:30,200 --> 00:49:33,880 listen to it, get more insight from Sam himself about what he's 833 00:49:33,880 --> 00:49:36,640 actually looking for from players. 834 00:49:37,680 --> 00:49:38,640 I think we'll have to cut it there.