1 00:00:00,200 --> 00:00:06,800 Good morning. Good morning GMGM folks. 2 00:00:07,040 --> 00:00:11,000 Welcome to another episode of SOMO. 3 00:00:11,080 --> 00:00:15,120 Our day that is Wednesday, February 12th. 4 00:00:17,640 --> 00:00:21,160 We are off to a violent start in the markets here. 5 00:00:21,160 --> 00:00:24,600 This morning CPI came in hot, real hot. 6 00:00:24,600 --> 00:00:26,920 Markets didn't like it, started puking. 7 00:00:27,400 --> 00:00:29,080 Looks like we're starting to see a rebound. 8 00:00:29,080 --> 00:00:33,040 My moon quant My moon quant says we typically bought them on days 9 00:00:33,040 --> 00:00:34,600 of full moons. Guess what? 10 00:00:35,040 --> 00:00:38,760 Full moon today, Snow moon. So who's your moon quant? 11 00:00:39,440 --> 00:00:42,920 Oh, I have a few. It's not just one. 12 00:00:43,680 --> 00:00:46,200 I've sourced them on on crypto Twitter. 13 00:00:46,480 --> 00:00:48,960 Oh, OK. And so this is like this is the 14 00:00:48,960 --> 00:00:52,880 new Mariam, was it? What was that was her name for? 15 00:00:53,360 --> 00:00:56,680 Yes, very similar. So they really first got my 16 00:00:56,680 --> 00:01:01,640 attention back on the January dip and the full moon marked the 17 00:01:01,640 --> 00:01:09,280 local bottom in January for the third consecutive cycle after in 18 00:01:09,360 --> 00:01:12,720 a four in the four year cycle coming off of a new presidential 19 00:01:12,720 --> 00:01:16,400 election, the full moon marked the bottom in January and the 20 00:01:16,400 --> 00:01:18,880 full moon Kwans called it and they, they called, they're 21 00:01:18,880 --> 00:01:22,920 calling bottom today as well. So when my moon quads speak, I, 22 00:01:22,920 --> 00:01:26,960 I listen. So that's, I'm ready to go full 23 00:01:26,960 --> 00:01:28,400 on. What we don't know is where the 24 00:01:28,400 --> 00:01:30,640 bottom is today. So is the bottom already in? 25 00:01:30,880 --> 00:01:32,360 Is it going to come later this afternoon? 26 00:01:32,800 --> 00:01:38,400 We still have about 14-15 more hours left to try to figure this 27 00:01:38,400 --> 00:01:41,960 out. Yeah, I'm market definitely 28 00:01:41,960 --> 00:01:43,800 didn't like. Well, to be fair, the market 29 00:01:43,800 --> 00:01:46,000 just continued the trend that it's kind of been on, which has 30 00:01:46,000 --> 00:01:50,400 been, it's basically been a downward trend since the 28th of 31 00:01:51,000 --> 00:01:57,960 of January, right? I, I don't think today's enough 32 00:01:57,960 --> 00:02:02,920 to, to like freak out at all. Maybe that's like what the 33 00:02:02,960 --> 00:02:06,320 overhang was a little bit, but we've kind of had this sentiment 34 00:02:06,320 --> 00:02:09,840 from Powell for a bit here. You know, we're going to wait 35 00:02:09,840 --> 00:02:11,600 and see. Data dependent. 36 00:02:12,280 --> 00:02:16,640 No, no rush to cut rates. I think the market was only 37 00:02:16,640 --> 00:02:20,920 pricing in one rate cut this year up until today. 38 00:02:20,920 --> 00:02:24,600 So and I don't know what it is right now, but this isn't this 39 00:02:24,600 --> 00:02:27,720 isn't like shocking inflation has been going up slightly. 40 00:02:27,720 --> 00:02:29,760 It's not like double digits or anything like that, but we're 41 00:02:29,760 --> 00:02:35,680 talking about like 3% rather than 2.6%, you know, so like 42 00:02:35,800 --> 00:02:41,360 more like a manageable increase. Let's say the Bitcoin went down 43 00:02:41,360 --> 00:02:46,120 to 95 K. That's kind of where it's not 44 00:02:46,120 --> 00:02:49,320 really where it's bounced, but like it's, it's seemingly 45 00:02:49,320 --> 00:02:52,440 bouncing around 94 K here. Obviously, the main bit of 46 00:02:52,440 --> 00:02:58,240 resistance here would be between 90 and 92 K where wherever we've 47 00:02:58,240 --> 00:03:01,520 been like wicked into that, into that region, we've bounced 48 00:03:01,520 --> 00:03:04,000 fairly aggressively off the back of that. 49 00:03:05,480 --> 00:03:09,240 It feels as though we're just kind of in a bit of a no man's 50 00:03:09,240 --> 00:03:11,560 land here. Although I happened, one thing I 51 00:03:11,560 --> 00:03:16,240 did I did pick up on today is that funding rates have kind of 52 00:03:16,240 --> 00:03:21,160 gone negative across the board or for a lot of assets. 53 00:03:23,280 --> 00:03:27,360 A lot of altcoins are being heavily shorted in this market. 54 00:03:27,720 --> 00:03:30,560 Heavily shorted. You can see it because funding 55 00:03:30,560 --> 00:03:34,280 rates are negative. Yeah, pretty much for I would 56 00:03:34,280 --> 00:03:37,320 say 50% of the alts that I'm looking at, funding is is gone 57 00:03:37,320 --> 00:03:39,920 negative. So particularly in memes, 58 00:03:39,920 --> 00:03:45,360 particularly in AI, people are people are adding to shorts. 59 00:03:45,440 --> 00:03:47,640 Yeah. That that feels like the the 60 00:03:47,680 --> 00:03:50,000 consensus that that I see on the timeline. 61 00:03:50,000 --> 00:03:52,360 So what could go? What could go wrong when 62 00:03:52,360 --> 00:03:55,320 everyone piles in short, after 80 to 90%? 63 00:03:55,680 --> 00:03:56,880 Right. That's what I kind of mean. 64 00:03:56,880 --> 00:04:02,560 It's like I, I definitely think that that the, that, that's a 65 00:04:02,560 --> 00:04:04,920 risky bit of the market to be piling into shorts for. 66 00:04:04,920 --> 00:04:08,720 And I think one good piece of news, as we kind of saw with ARC 67 00:04:08,720 --> 00:04:14,400 and A16AI16Z and and Fartcoin yesterday, like you can get big, 68 00:04:14,400 --> 00:04:16,920 big Wicks. So my general sense is if we see 69 00:04:16,920 --> 00:04:19,320 some civility here, and I don't think, I don't think Bitcoin's 70 00:04:19,320 --> 00:04:20,600 going to go down much lower here. 71 00:04:22,200 --> 00:04:24,600 I think I think you'll see a decent bounce today. 72 00:04:24,760 --> 00:04:28,760 I actually do like I'm buying today because I think that this 73 00:04:28,760 --> 00:04:32,160 is this is a little bit of a local bottom. 74 00:04:32,760 --> 00:04:34,760 Maybe Mando is my new moon quant folks. 75 00:04:34,880 --> 00:04:38,800 You, you heard it here first. He's he's aligned with the moon. 76 00:04:39,000 --> 00:04:41,520 The literal moon boys. I'm aligned with the moon boys, 77 00:04:41,520 --> 00:04:43,160 yeah. Fantastic. 78 00:04:43,160 --> 00:04:45,520 Well, I want to get into your market report here in a minute. 79 00:04:45,760 --> 00:04:47,280 We'll definitely talk about that Today. 80 00:04:47,280 --> 00:04:49,560 We're going to talk about Trump appointing crypto friendly 81 00:04:49,560 --> 00:04:54,080 quintens for the CFTC Chair. Jason Calacanis wants the SEC to 82 00:04:54,080 --> 00:04:56,600 ban meme coins. Hester Peters says no way. 83 00:04:56,600 --> 00:05:00,800 She loves freedom and the SEC isn't touching meme coins, so 84 00:05:00,880 --> 00:05:03,320 rough day for Jason the Trump family. 85 00:05:03,320 --> 00:05:06,080 WLFI has rolled out macro strategy, so we'll talk about 86 00:05:06,080 --> 00:05:08,000 that. Dave Portnoy's roller coaster 87 00:05:08,000 --> 00:05:10,600 continues and choose Rich. Nick claps back. 88 00:05:10,960 --> 00:05:13,720 We might have to play the diss track later on. 89 00:05:13,720 --> 00:05:17,000 Big day for Myriad and there's a few meme and NFT headlines. 90 00:05:17,000 --> 00:05:19,280 There is a lot to get into before we do. 91 00:05:19,800 --> 00:05:23,680 Shout out to our partners First. Galaxis Glasses is a Web 3 92 00:05:23,680 --> 00:05:27,240 platform empowering creators and brands to build unstoppable 93 00:05:27,240 --> 00:05:30,640 communities with full ownership and independence, trusted by 94 00:05:30,640 --> 00:05:34,680 icons like Donald Trump, Steve Aoki, Mike Tyson and the NBA, 95 00:05:35,000 --> 00:05:40,240 shaping together the future of engagement and everyday we see 96 00:05:40,240 --> 00:05:43,720 people's walls get drained. Fairside is about to launch the 97 00:05:43,720 --> 00:05:46,320 fair alternative to insurance for crypto scams. 98 00:05:46,680 --> 00:05:49,520 Check out at fairside network on X. 99 00:05:49,560 --> 00:05:51,960 If you get drained, you won't get wrecked. 100 00:05:52,120 --> 00:05:53,680 We love our partners shout out to them. 101 00:05:53,880 --> 00:05:55,720 All right, Mando, let's get into. 102 00:06:01,920 --> 00:06:11,440 It can you dig it GM everyone. So I think we kind of just went 103 00:06:11,440 --> 00:06:13,640 into a little bit of a brief overview there, but the core 104 00:06:13,640 --> 00:06:17,760 inflation came in nought .2% above expectations. 105 00:06:18,000 --> 00:06:24,000 Inflation came in nought .1%. We are around 3% inflation down 106 00:06:24,000 --> 00:06:28,520 from kind of two and a half 2:00-ish towards the back end of 107 00:06:28,520 --> 00:06:31,800 last last year. Majority of the inflation seems 108 00:06:31,800 --> 00:06:37,760 to be coming from from shelter. I don't know, like I don't think 109 00:06:37,760 --> 00:06:39,480 the Fed's going to do anything on the back of this. 110 00:06:39,480 --> 00:06:43,160 Like 3% is not won't, won't make them, probably won't make them 111 00:06:43,160 --> 00:06:46,440 cut rates, but it's definitely not that aggressively higher 112 00:06:46,600 --> 00:06:48,800 than than their like long term average. 113 00:06:48,800 --> 00:06:51,920 The long term average inflation is like 2.6%. 114 00:06:53,520 --> 00:06:55,960 So like we're just kind of hanging around that sort of 115 00:06:55,960 --> 00:06:59,120 level. It'll be, I think the main way 116 00:06:59,120 --> 00:07:02,880 the Fed would turn on QE is if like these high rates cause to 117 00:07:02,880 --> 00:07:04,440 some sort of stress in the economy. 118 00:07:05,960 --> 00:07:08,240 Because for now it just feels like inflation is going to stay 119 00:07:08,240 --> 00:07:13,400 a little bit sticky around this around this 2 to 3% area for for 120 00:07:13,400 --> 00:07:16,240 a little bit here. The market didn't like it. 121 00:07:17,400 --> 00:07:19,400 Well, it hadn't been liking it for a while, right? 122 00:07:19,400 --> 00:07:25,160 Ever since ever since the yeah, I guess late, late to mid Jan, 123 00:07:25,160 --> 00:07:27,000 we've been in this kind of downward trend. 124 00:07:27,960 --> 00:07:31,440 This kind of takes us back to sort of the levels that we saw 125 00:07:31,440 --> 00:07:34,720 about 10 days ago on that Wick lower. 126 00:07:36,360 --> 00:07:39,280 But but I do think it the market sounds like a little bit 127 00:07:39,920 --> 00:07:43,120 oversold here or like I'm starting to see some. 128 00:07:44,080 --> 00:07:47,560 I I would say this is something to look like exhausted sellers 129 00:07:47,560 --> 00:07:50,080 sort of market like. I don't that sort of a figure 130 00:07:50,080 --> 00:07:53,440 that we saw isn't really about like isn't going to change the 131 00:07:53,440 --> 00:07:55,480 needle much for me. So if things are getting 132 00:07:55,480 --> 00:07:58,200 absolutely smacked on the back of it, back of it, I think 133 00:07:58,200 --> 00:08:02,200 that's the sort of market where I would I would look to buy. 134 00:08:03,000 --> 00:08:06,120 So that's what I'm doing today. In case you're wondering, the 135 00:08:08,160 --> 00:08:11,400 there was very little in terms of majors news apart from like 136 00:08:11,400 --> 00:08:14,120 it looks like we're heading closer and closer to ETFs across 137 00:08:14,120 --> 00:08:18,680 the board. Solana, the CSSEC has asked for 138 00:08:18,760 --> 00:08:22,000 public comments on a bunch of different solid ETFs. 139 00:08:22,000 --> 00:08:24,120 So people getting bullish that that could happen relatively 140 00:08:24,120 --> 00:08:25,280 soon. It sounds like they're going to 141 00:08:25,280 --> 00:08:28,960 be acknowledging the XRPETF tomorrow as well. 142 00:08:29,720 --> 00:08:32,559 There is a like a in terms of the states, it looks like 143 00:08:32,559 --> 00:08:38,480 Oklahoma has got some sort of vote on the floor around this 144 00:08:38,480 --> 00:08:42,039 Bitcoin policy. I don't there's 2122 states 145 00:08:42,320 --> 00:08:44,760 which all are trying to push towards a Bitcoin reserve at the 146 00:08:44,760 --> 00:08:46,280 moment. So we're going to hear lots and 147 00:08:46,280 --> 00:08:47,960 lots of headlines around each individual state. 148 00:08:47,960 --> 00:08:50,960 But it does feel as though some of them are getting relatively 149 00:08:50,960 --> 00:08:53,560 close. Powell was was kind of 150 00:08:54,440 --> 00:08:58,160 similarly, I wouldn't say bullish, but but less aggressive 151 00:08:58,160 --> 00:08:59,640 towards crypto. He said, look, we're going to 152 00:08:59,640 --> 00:09:04,880 investigate the DE banking. We don't want to have a CBDC and 153 00:09:04,880 --> 00:09:07,440 he said we should get stable coin regulation, which is kind 154 00:09:07,440 --> 00:09:12,080 of what's seemingly has been happening more recently. 155 00:09:12,080 --> 00:09:14,800 So he seems to be less aggressive towards crypto, which 156 00:09:14,800 --> 00:09:19,080 is, which is a good move and does look like interestingly the 157 00:09:19,080 --> 00:09:26,520 one of the A16Z executives is going to take a position at the 158 00:09:26,520 --> 00:09:30,800 CFTC. So yeah, pretty, pretty decent 159 00:09:30,920 --> 00:09:38,520 role there or decent change from Gensler to some from A16Z in 160 00:09:38,520 --> 00:09:46,040 terms of a macro, macro stocks, stocks they've been a bit of a 161 00:09:46,040 --> 00:09:50,920 holding pattern to the main thing is like Tesla's been going 162 00:09:50,920 --> 00:09:53,480 lower, Meta's been going higher. So there's been a bit of a 163 00:09:53,480 --> 00:09:57,240 change over there, but and the dollar has gone a little bit 164 00:09:57,240 --> 00:10:01,000 stronger today, but like again, it's they've been kind of 165 00:10:01,360 --> 00:10:04,320 treading water for a couple weeks now as well. 166 00:10:04,880 --> 00:10:08,480 The only real like mover to pay attention to has been gold, but 167 00:10:08,480 --> 00:10:14,440 that's down a little bit today. So not much happening on, on, on 168 00:10:14,440 --> 00:10:17,440 macro either, at least not to say that like, Oh my God, 169 00:10:17,440 --> 00:10:19,920 Bitcoin should be down like 50% in this environment. 170 00:10:19,920 --> 00:10:25,720 It does look, looks like stocks are down like 1% in the US or 171 00:10:25,720 --> 00:10:29,640 like less than 1% nought .5 to to one depending on the index. 172 00:10:29,640 --> 00:10:32,720 And then in Europe and Asia, they're down like very, very 173 00:10:32,720 --> 00:10:36,720 slightly. So yeah, not, not, I don't think 174 00:10:36,720 --> 00:10:40,040 the market's generally freaking out over Kiwi here either. 175 00:10:40,040 --> 00:10:45,560 The broader market on the left curve stuff yesterday again was 176 00:10:46,000 --> 00:10:49,920 was was more quiet than than the previous few days, Fewer like 177 00:10:49,920 --> 00:10:58,640 daily runners. And it feels as though maybe 178 00:10:58,640 --> 00:11:01,400 barstool continues to be or sorry, jail still continues to 179 00:11:01,400 --> 00:11:05,000 be like the main token in terms of volume, which just surprises 180 00:11:05,000 --> 00:11:07,040 me like 3 or 4 days after launch. 181 00:11:07,040 --> 00:11:11,600 But obviously there was this competition for hype video and 182 00:11:11,600 --> 00:11:14,680 then you had the the choose or is it choose Rich? 183 00:11:14,720 --> 00:11:20,600 Where is he coming from now? Choose Rich Nick like this 184 00:11:20,600 --> 00:11:23,680 video. Other than that, like as I 185 00:11:23,680 --> 00:11:27,160 looked through there was this very few I've seen some like 186 00:11:27,200 --> 00:11:30,960 light commentary that B&B is starting to see activity pick up 187 00:11:30,960 --> 00:11:33,400 again. There was a runner yesterday on 188 00:11:33,400 --> 00:11:35,240 B&B. We obviously had two tokens last 189 00:11:35,240 --> 00:11:40,120 week that were listed by Binance test and I forget the name of 190 00:11:40,120 --> 00:11:44,120 the other one, but maybe we see a bit of a if, if Binance could 191 00:11:44,120 --> 00:11:46,680 be more aggressive on their listing procedures. 192 00:11:46,800 --> 00:11:50,080 Maybe we'll see something there. You don't really know. 193 00:11:50,600 --> 00:11:55,360 And and as you kind of said, has to Pierce seemingly as said meme 194 00:11:55,360 --> 00:11:56,640 coins are likely to be free game. 195 00:11:56,640 --> 00:12:00,800 So I think people felt a little bit bullish about that sector 196 00:12:01,520 --> 00:12:05,920 for crime or otherwise. But yeah, I would say this has 197 00:12:05,920 --> 00:12:09,560 been the quietest day that I've done the minutes in in a while. 198 00:12:10,040 --> 00:12:15,440 Yeah, it was a nice recap. Maybe we can work backwards. 199 00:12:15,640 --> 00:12:20,440 So I've been seeing the, the, the B&B meme chatter as well. 200 00:12:21,200 --> 00:12:26,240 Interestingly, it's from kind of somewhat adjacent crew who is 201 00:12:26,240 --> 00:12:30,560 aggressively rotating as it is. So I don't know, I'm, I'm kind 202 00:12:30,560 --> 00:12:33,640 of in the indifference camp right now towards memes. 203 00:12:33,640 --> 00:12:40,720 I'm a fairly active meme trader, but I got in trade yesterday and 204 00:12:40,720 --> 00:12:43,440 it, it felt kind of refreshing. And I look at the Solana board 205 00:12:43,440 --> 00:12:45,880 this morning and I don't feel like I missed anything. 206 00:12:46,840 --> 00:12:50,240 And I hear chatter that, OK, some folks are grinding on B&B. 207 00:12:50,920 --> 00:12:52,760 That's great. But that also just kind of feels 208 00:12:52,760 --> 00:12:55,320 like a trap. Like we we saw that with like 209 00:12:55,320 --> 00:12:57,160 the Tron memes. We've seen it before. 210 00:12:57,160 --> 00:12:59,560 I know like B&B had a meme season in 2021. 211 00:12:59,560 --> 00:13:01,320 People keep reminding us about that. 212 00:13:02,840 --> 00:13:04,160 I don't know. It doesn't seem like we've got 213 00:13:04,160 --> 00:13:07,840 crazy volumes over here. Like the leaders are doing, 20 214 00:13:07,840 --> 00:13:10,360 to 40 million. Captain B&B clearly the winner, 215 00:13:10,360 --> 00:13:14,280 up 100%. I bought I bought a new meme for 216 00:13:14,280 --> 00:13:16,840 the first time in a long, long time. 217 00:13:16,960 --> 00:13:21,080 Wow. Yeah, on which I bought this, 218 00:13:21,320 --> 00:13:23,000 this relaxed dog. Thing. 219 00:13:24,040 --> 00:13:27,760 My sister, my sister sent me the meme and was like, it sent me 220 00:13:27,760 --> 00:13:30,320 the meme in one of our group chats, which I then used as a 221 00:13:30,320 --> 00:13:36,280 meme. And yeah, this, I don't know. 222 00:13:36,440 --> 00:13:41,280 I just vibe with this dog man. I was like, I actually like 223 00:13:41,280 --> 00:13:45,400 this, this. I miss the days where you see a 224 00:13:45,400 --> 00:13:47,800 meme, you like a meme, you buy the meme. 225 00:13:47,800 --> 00:13:49,800 Do you know what I mean? It's like, Oh, this is actually 226 00:13:49,800 --> 00:13:51,560 a good like, do you know what I mean? 227 00:13:51,560 --> 00:13:55,000 I felt good to be like, I'm in this coin, in this coin, because 228 00:13:55,200 --> 00:14:01,000 I like that that dog rather than which, which, which which pump 229 00:14:01,000 --> 00:14:05,360 and dump fucking Kol is in this one and or which celebrities 230 00:14:05,360 --> 00:14:08,080 going to come in and and launch a coin or Internet capital 231 00:14:08,080 --> 00:14:09,720 markets. This just felt like a bit more 232 00:14:09,720 --> 00:14:11,760 pure as a as a meme to me. So. 233 00:14:13,360 --> 00:14:17,040 So I, I'm laughing because like I, I have buddies in my trading 234 00:14:17,040 --> 00:14:19,960 group who bought this and I was like telling them not to because 235 00:14:19,960 --> 00:14:25,480 it was the same, It was the same KO Wells who've been like, so 236 00:14:25,480 --> 00:14:26,920 literally, I'm, I'm going to call Wiz out here. 237 00:14:26,920 --> 00:14:30,120 Wiz has been pounding the table, telling everyone that they need 238 00:14:30,120 --> 00:14:32,880 to aggressively rotate and not hold any more than an hour. 239 00:14:32,880 --> 00:14:34,800 And then last night he buys the relaxed dog. 240 00:14:34,800 --> 00:14:36,640 He says, no, I'm going to hold this one. 241 00:14:36,880 --> 00:14:38,880 I'm just going to relax and hold this meme. 242 00:14:39,280 --> 00:14:40,880 That's the point. It's just there's something 243 00:14:40,880 --> 00:14:44,040 about this at this time of juncture where I was like, you 244 00:14:44,040 --> 00:14:48,320 know what, I quite like this. Like very, very chill. 245 00:14:49,240 --> 00:14:52,040 Just it gave me chill guy vibes so. 246 00:14:54,040 --> 00:14:56,400 Just incredible. Things which went down to like 247 00:14:56,400 --> 00:14:59,600 fucking zero, but but like, that was the that was the first time 248 00:14:59,600 --> 00:15:01,840 I was like, you know, this is a meme. 249 00:15:01,840 --> 00:15:04,120 I like why can't we just buy memes that we like anymore? 250 00:15:05,040 --> 00:15:06,720 That's what. That's where we started. 251 00:15:07,320 --> 00:15:10,680 That's what. We're and I cut I I cut it was 252 00:15:10,680 --> 00:15:12,200 interesting. I saw a tweet from Dees 253 00:15:12,200 --> 00:15:19,120 yesterday, which was who's, you know, director of vibes in his 254 00:15:19,120 --> 00:15:21,960 time. He said something like the ebb 255 00:15:21,960 --> 00:15:25,720 and flow of rotate out of this bag ASAP and believing in 256 00:15:25,720 --> 00:15:28,640 something is natural when everything is everyone is doing 257 00:15:28,640 --> 00:15:31,320 one thing and it becomes common knowledge as the most plus EV 258 00:15:31,360 --> 00:15:33,520 strategy. Usually a decent time to to look 259 00:15:33,760 --> 00:15:35,600 on the opposite side of the spectrum. 260 00:15:36,240 --> 00:15:39,240 So I think what he's saying there is that everyone is doing 261 00:15:39,240 --> 00:15:42,800 the hyper rotation. Maybe it's time to buy some 262 00:15:42,800 --> 00:15:44,560 stuff that you like. Wow. 263 00:15:45,240 --> 00:15:48,120 You vibe with a little bit more and I kind of felt that when I 264 00:15:48,120 --> 00:15:51,240 saw that, I was like, yeah, I think I, I kind of agree with 265 00:15:51,240 --> 00:15:53,480 that too. Like if you like, if you like 266 00:15:53,480 --> 00:15:56,280 the vibes of a project, maybe maybe that'll be the runner. 267 00:15:56,280 --> 00:15:57,720 So that's what that's what I bought as well. 268 00:15:58,520 --> 00:16:01,200 Maybe relax is is going to is going to make it here. 269 00:16:01,640 --> 00:16:04,360 Oh, it was a good sales pitch for sure. 270 00:16:04,520 --> 00:16:06,200 It's just a dog. To be. 271 00:16:06,200 --> 00:16:10,320 Clear, which which looks like it's it's chilled out, but my my 272 00:16:10,320 --> 00:16:14,600 sister who's big on TikTok, I think our family brought to him. 273 00:16:16,160 --> 00:16:19,400 Incredible. Well, we're happy to hear that 274 00:16:19,400 --> 00:16:21,720 you are back in the trenches. Maybe I want to pull back a 275 00:16:21,720 --> 00:16:24,840 little bit. Appreciate your commentary. 276 00:16:24,840 --> 00:16:26,800 You kind of said that you feel like the bottom is in. 277 00:16:26,800 --> 00:16:29,520 You said you're bidding. I'm buying today for sure. 278 00:16:29,520 --> 00:16:31,800 This is this is crazy. What are you bidding? 279 00:16:33,160 --> 00:16:36,320 I, well, I bought a decent amount of of JLP again 280 00:16:36,320 --> 00:16:37,880 yesterday. I bought some, I bought some 281 00:16:37,880 --> 00:16:42,320 fart coin. I'll buy, I'll buy bags, which 282 00:16:42,320 --> 00:16:50,400 will remain nameless and radium. I bought a decent amount of so 283 00:16:50,400 --> 00:16:52,400 just just just stuff which I like. 284 00:16:53,840 --> 00:16:56,840 I'm not bearish today. If, if, if someone's telling me 285 00:16:56,840 --> 00:16:59,520 we're about to go down to 92 K because of QE, sell all your 286 00:16:59,520 --> 00:17:01,240 high risk stuff. Like I don't think that's what's 287 00:17:01,240 --> 00:17:02,520 happening today. And I think the people who are 288 00:17:02,520 --> 00:17:06,800 doing that are the ones who've lost 90% on that coin or, or 289 00:17:06,800 --> 00:17:11,280 like have been wrecked and are now trying to like get that last 290 00:17:11,280 --> 00:17:14,200 gasp of a three to 4% move in Bitcoin. 291 00:17:14,720 --> 00:17:16,560 And actually they can get their faces ripped off because 292 00:17:16,560 --> 00:17:19,960 everyone's short seemingly. Like you can see it, you can see 293 00:17:19,960 --> 00:17:23,359 with negative funding across a bunch of old coins, like you can 294 00:17:23,359 --> 00:17:27,960 bounce quite aggressively, but. Yeah, well, I like that. 295 00:17:27,960 --> 00:17:30,200 I think a lot of these like radium looks like it's kind of 296 00:17:30,200 --> 00:17:34,480 been tapping off of this level. So that feels like a decent 297 00:17:34,480 --> 00:17:37,280 entry. What jumps out to me, I'm a I'm 298 00:17:37,280 --> 00:17:39,480 a I'm looking for the pump fun stats here. 299 00:17:43,040 --> 00:17:46,320 Like anecdotally, like I look at the Solana board and it feels 300 00:17:46,320 --> 00:17:48,040 like the trenches are kind of a ghost town. 301 00:17:48,040 --> 00:17:49,800 Like there's a handful of runners per day. 302 00:17:49,800 --> 00:17:51,360 They're not even going that high. 303 00:17:52,200 --> 00:17:57,000 And then I pull up the stats and we're, we're we're effectively 304 00:17:57,000 --> 00:18:00,680 at all time high launches still like we're not low off top, but 305 00:18:00,680 --> 00:18:03,560 we're still at 50,000 tokens being launched per day. 306 00:18:04,440 --> 00:18:08,320 And it's like I'm, I'm like disconnected from this sector of 307 00:18:08,320 --> 00:18:11,480 the market at this point. Because if you would have asked 308 00:18:11,480 --> 00:18:14,440 me, like my gut feel how many tokens are launching today, I 309 00:18:14,440 --> 00:18:17,760 would have said we're back to 10 to 20,000 like we're we're back 310 00:18:17,760 --> 00:18:19,360 down here. But like that's clearly not the 311 00:18:19,360 --> 00:18:20,680 case. So there's clearly like these 312 00:18:20,680 --> 00:18:23,720 syndicates out there. I'm seeing more chatter about 313 00:18:23,720 --> 00:18:28,000 this, maybe this is tinfoil hat, maybe I'm out of out of out of 314 00:18:28,000 --> 00:18:32,000 my bag here, but that these syndicates are effectively just 315 00:18:32,000 --> 00:18:35,520 just industrial pump phone launches, launch launches at 316 00:18:35,640 --> 00:18:37,360 this point. And the data kind of backs that 317 00:18:37,360 --> 00:18:40,760 up, right? Like how are there 50,000 tokens 318 00:18:40,760 --> 00:18:42,840 launching per day right now? Like there's, there's no buyers 319 00:18:42,840 --> 00:18:44,240 for these, but like where I'm going. 320 00:18:44,360 --> 00:18:46,360 Though that's the point, like people just play the daily 321 00:18:46,360 --> 00:18:49,160 runners that like there's no one was holding anything else. 322 00:18:49,160 --> 00:18:51,440 All the money that was in all the other slamming coins is just 323 00:18:51,440 --> 00:18:54,760 is just now in Seoul or stables, right? 324 00:18:55,160 --> 00:18:57,040 This is the this is the reason why it just doesn't feel like 325 00:18:57,040 --> 00:18:58,680 the top to me. Bitcoin is not falling out of 326 00:18:58,680 --> 00:19:00,480 bed. Like, yeah, it's hanging out 327 00:19:00,480 --> 00:19:04,240 around 100K stable coin supply just keeps on going higher. 328 00:19:04,760 --> 00:19:07,920 And like you said, like all the all these, all the different 329 00:19:07,920 --> 00:19:10,680 metrics around activity are staying really high. 330 00:19:10,800 --> 00:19:15,200 So like Dex volume has stayed high, active addresses has 331 00:19:15,200 --> 00:19:19,240 stayed very high and new launches of meme coins have 332 00:19:19,240 --> 00:19:21,280 stayed very, very high. So we what we've just seen is 333 00:19:21,280 --> 00:19:25,200 just like a re, a rejigging of where people want to hold value. 334 00:19:25,440 --> 00:19:28,560 That's all it is, at least in my opinion. 335 00:19:29,000 --> 00:19:31,600 So we're not at indifference. The trenches are not indifferent 336 00:19:31,800 --> 00:19:33,680 right now. Not not. 337 00:19:33,800 --> 00:19:35,280 That's not what the data is telling us. 338 00:19:36,200 --> 00:19:38,120 No, the trade, the trades are active, right? 339 00:19:38,840 --> 00:19:41,040 Yeah, they're, they're incredibly active. 340 00:19:42,520 --> 00:19:45,600 Is this our new normal? Like do you, do you think we 341 00:19:45,600 --> 00:19:52,440 revisit August, September lows for, for coin launches per day, 342 00:19:52,960 --> 00:19:55,680 10,000 per day or do you think we're just in a new paradigm 343 00:19:55,680 --> 00:19:59,560 where the, the minimum threshold is just higher now for the 344 00:19:59,560 --> 00:20:02,200 foreseeable future? I think the minimum threshold is 345 00:20:02,200 --> 00:20:03,600 higher. That's what I think. 346 00:20:03,800 --> 00:20:06,640 I do think that that what Dee said there makes sense. 347 00:20:06,640 --> 00:20:10,960 Like it's now consensus to sell everything, you know, and the 348 00:20:10,960 --> 00:20:14,200 people playing that I think can get, you know, may not see the 349 00:20:14,200 --> 00:20:17,600 best returns even now because it really is just a case of hot 350 00:20:17,600 --> 00:20:21,840 potato for an hour. And I think I actually think 351 00:20:21,840 --> 00:20:23,680 something like these might make quite a lot of money in the 352 00:20:23,680 --> 00:20:25,880 market like this, because it'd be like if he can pick a good 353 00:20:25,880 --> 00:20:31,280 vibes project, you know, or like there's an artist come through 354 00:20:31,280 --> 00:20:33,440 and does an artist coin or you know, you know what I'm trying 355 00:20:33,440 --> 00:20:34,520 to say like there's a coin which. 356 00:20:35,120 --> 00:20:37,680 It's always like bragging when when everyone is zigging like 357 00:20:37,680 --> 00:20:40,520 that's the only way hit the big wins like you're never going to 358 00:20:40,520 --> 00:20:43,680 hit the big win trying to catch the runner of the day when 359 00:20:43,880 --> 00:20:46,440 everyone who like when all the pros are doing the exact same 360 00:20:46,440 --> 00:20:48,160 thing as. You just relax dude. 361 00:20:51,600 --> 00:20:55,760 Relax, coded, Relax. We'll see if this damn pain 362 00:20:55,760 --> 00:20:58,840 token comes at any point that we are. 363 00:20:59,120 --> 00:21:02,960 As the days slip by, I think we are more and more at risk of 364 00:21:02,960 --> 00:21:06,680 time rugging the relevancy of this pain meme. 365 00:21:07,280 --> 00:21:09,760 Yeah. So we'll, we'll see like if, if 366 00:21:09,760 --> 00:21:13,160 the trenches turn around and are no longer in pain, I don't know. 367 00:21:13,160 --> 00:21:15,640 I don't know if it's going to perform. 368 00:21:15,640 --> 00:21:18,280 As well look at the market. What happened? 369 00:21:18,680 --> 00:21:21,000 Bitcoin back to unchanged on the day. 370 00:21:21,200 --> 00:21:24,080 Everything. Everything's going, boys. 371 00:21:24,440 --> 00:21:25,880 We like that. Back. 372 00:21:26,760 --> 00:21:29,920 When I looked at stocks right before the show opened, it 373 00:21:29,920 --> 00:21:32,280 looked like everything basically gaps lower on the open and it 374 00:21:32,280 --> 00:21:35,400 was just going straight back up. So I could just like you said, 375 00:21:35,400 --> 00:21:40,360 like this really wasn't much of A headline to to to get worried 376 00:21:40,360 --> 00:21:44,160 about. We're buying today, folks, we're 377 00:21:44,160 --> 00:21:46,400 buying today. Where does it feel good? 378 00:21:48,360 --> 00:21:49,760 All right, let's see what else is going on. 379 00:21:49,760 --> 00:21:53,360 So we had Cal Santis. If folks aren't familiar with 380 00:21:53,360 --> 00:21:57,960 Jason, he's been kind of like a, a foil for the broader crypto 381 00:21:57,960 --> 00:22:00,080 space I'd say for for several years now. 382 00:22:00,520 --> 00:22:02,760 He's I think he's the one who who famously told everyone, if 383 00:22:02,760 --> 00:22:07,120 you're in crypto, pivot to AI effectively at the bottom he 384 00:22:07,120 --> 00:22:09,400 does. He did the All In podcast with 385 00:22:09,400 --> 00:22:15,040 Sax, who is now our Cryptozar. I think Sax is officially off 386 00:22:15,040 --> 00:22:16,480 that POD. I think he came back. 387 00:22:17,040 --> 00:22:21,600 He's on, well, he's on like as a guest kind of most weeks. 388 00:22:21,720 --> 00:22:24,080 Like he hunts up like an hour or half an hour something. 389 00:22:24,560 --> 00:22:26,120 Got it. So it's. 390 00:22:26,120 --> 00:22:27,760 What I knew What's that pod it's. 391 00:22:28,360 --> 00:22:28,640 Good. Oh yeah. 392 00:22:28,640 --> 00:22:33,480 It's a very good pod. That's it's a long conversation. 393 00:22:33,480 --> 00:22:36,720 They got a little propaganda E in 2024 it became a very 394 00:22:36,720 --> 00:22:38,440 political show. Yeah. 395 00:22:38,560 --> 00:22:39,520 Oh yeah. Very political. 396 00:22:39,720 --> 00:22:43,960 Show still in general good macro show but now we have to listen 397 00:22:43,960 --> 00:22:46,640 to what Jason says a little bit more because he's in Sax's ear 398 00:22:48,200 --> 00:22:50,520 even though Sax is probably just going to dismiss him but he says 399 00:22:50,520 --> 00:22:53,360 just ban these stupid fucking meme coins to. 400 00:22:53,600 --> 00:22:58,720 Be clear, he said that live on the show Last week, David Sachs 401 00:22:58,720 --> 00:23:00,800 came on and he said, are you going to regulate all these meme 402 00:23:00,800 --> 00:23:04,640 coins? And so what's Sachs say? 403 00:23:04,920 --> 00:23:07,200 No. It's actually a really good show 404 00:23:07,200 --> 00:23:09,680 because David Sachs does come on there and actually just speaks 405 00:23:09,680 --> 00:23:13,760 about government policy around crypto and AI each week. 406 00:23:14,400 --> 00:23:17,120 So he gave a real like a really detailed description of what 407 00:23:17,120 --> 00:23:22,040 happened with the whole press conference that he did, you 408 00:23:22,040 --> 00:23:25,800 know, like why it was needed that those four heads. 409 00:23:25,800 --> 00:23:28,080 It's so weird that there are four different heads, including 410 00:23:28,080 --> 00:23:31,000 like the Agricultural Commission or whatever it is that needs to 411 00:23:31,000 --> 00:23:34,320 be involved in this. And he said, like before, before 412 00:23:34,320 --> 00:23:37,720 him being involved, it's been impossible to get them all to 413 00:23:37,720 --> 00:23:39,960 agree that we need to push crypto forward. 414 00:23:39,960 --> 00:23:41,760 Like one of them was always like, no, we don't want to do 415 00:23:41,760 --> 00:23:42,680 it. So that's why he said it was 416 00:23:42,680 --> 00:23:46,440 such a big deal because if you're not in Washington, you 417 00:23:46,440 --> 00:23:49,680 don't get like, it's just been impossible to get to get 418 00:23:49,760 --> 00:23:52,440 cohesive policy where all everyone's trying to push in the 419 00:23:52,440 --> 00:23:55,880 same direction. And he even spoke candidly, like 420 00:23:55,880 --> 00:23:59,280 I know people maybe were expecting, you know, a bigger 421 00:23:59,280 --> 00:24:02,920 announcement that we're going to do some sort of Bitcoin reserve 422 00:24:02,920 --> 00:24:05,200 there. Like it it because he is now the 423 00:24:05,200 --> 00:24:08,440 Cryptozar and he speaks very candidly on that show each week. 424 00:24:08,440 --> 00:24:12,160 You should, you should tune into it because you're going to get a 425 00:24:12,160 --> 00:24:16,000 much better, clearer picture of, of, of what he and he, he pushed 426 00:24:16,000 --> 00:24:17,080 back on Jason. He said no. 427 00:24:17,080 --> 00:24:20,640 He basically said no. For that question, that's a good 428 00:24:20,640 --> 00:24:21,720 tip. Well, I'll definitely get back 429 00:24:21,720 --> 00:24:23,720 into my weekly listing. I'd fallen out a little bit. 430 00:24:24,480 --> 00:24:27,080 I didn't realize Saks was still making so many appearances. 431 00:24:27,360 --> 00:24:29,240 So. Yeah, he he dropped out 432 00:24:29,240 --> 00:24:31,560 completely for a couple weeks, but now he generally comes back 433 00:24:31,560 --> 00:24:34,480 on. OK, yeah, well that's going to 434 00:24:34,480 --> 00:24:38,280 be must listen every week it it is funny to see Kyle Sanchez 435 00:24:38,280 --> 00:24:41,280 continuing to to double down on this. 436 00:24:41,280 --> 00:24:43,360 It's also funny that Hester Pierce and see if I I don't know 437 00:24:43,360 --> 00:24:45,760 if I have the article up. What does he care? 438 00:24:46,480 --> 00:24:49,040 So genuinely, why does he care like the one bit about crypto 439 00:24:49,040 --> 00:24:52,240 where literally everyone's just everyone gets right that it's 440 00:24:52,240 --> 00:24:56,160 just as Hester Pierce says, like you guys are big, you guys are 441 00:24:56,160 --> 00:24:58,120 adults. If you want to play in this 442 00:24:58,120 --> 00:25:00,920 market, that's for you. You know, we're not going to 443 00:25:00,920 --> 00:25:05,120 come in and protect you. So like just just have that 444 00:25:05,120 --> 00:25:06,520 response. Don't be like we need to ban 445 00:25:06,520 --> 00:25:08,240 them. Just like that's the response 446 00:25:08,640 --> 00:25:10,320 you want to play in this market, you can lose everything. 447 00:25:10,560 --> 00:25:12,600 You can lose everything and nobody's there to save you. 448 00:25:12,840 --> 00:25:16,400 You know what was even funnier is just hours after that he's 449 00:25:16,400 --> 00:25:18,840 retweeting a parlay card that. He lost. 450 00:25:18,840 --> 00:25:23,160 Yeah, exactly. So he's firing up 16 to one long 451 00:25:23,160 --> 00:25:26,240 shot bets, 20 to one long shot bets, and happy to tout that 452 00:25:27,120 --> 00:25:31,440 while just a few hours after saying we need to ban the meme 453 00:25:31,440 --> 00:25:35,080 coins. So, Jason, we're not going to 454 00:25:35,080 --> 00:25:37,480 take you seriously. It was fun. 455 00:25:37,480 --> 00:25:40,520 Just the timing that Hester Pierce also said that she loves 456 00:25:40,520 --> 00:25:43,400 freedom and the SEC is not even going to be looking over meme 457 00:25:43,400 --> 00:25:47,080 coins in the same day. Looks like that will be likely 458 00:25:47,080 --> 00:25:48,960 under the CFTC if they pick it up. 459 00:25:48,960 --> 00:25:54,240 And now we've got the head of A16Z crypto policy, Brian 460 00:25:54,240 --> 00:25:58,960 Quinton's heading that up. So we will certainly see what 461 00:25:58,960 --> 00:26:00,640 that means for the meme coin market. 462 00:26:00,640 --> 00:26:03,280 I think the other piece of big news was out of Trump's world 463 00:26:03,280 --> 00:26:05,400 Liberty Fi. Yes, I think we've got to 464 00:26:05,400 --> 00:26:08,360 briefly touch on this. So they announced their own 465 00:26:08,360 --> 00:26:11,160 macro strategy. So Saylor has retired micro 466 00:26:11,160 --> 00:26:14,680 strategy and that the Trump brothers are now picking up with 467 00:26:14,680 --> 00:26:16,680 macro strategy. They're effectively launching 468 00:26:16,680 --> 00:26:19,640 their own token reserve, strategic token reserve. 469 00:26:20,160 --> 00:26:23,800 They name dropped Bitcoin, Ethereum, and then they left the 470 00:26:23,800 --> 00:26:26,960 door open for other cryptocurrencies. 471 00:26:28,160 --> 00:26:30,560 They've said why they're doing it to enhance the stability of 472 00:26:30,560 --> 00:26:34,160 their protocol, foster defy growth, help build trust with 473 00:26:34,160 --> 00:26:37,760 their community that they are effectively aligned with with 474 00:26:37,760 --> 00:26:41,080 bag holders. And they're also the second part 475 00:26:41,080 --> 00:26:44,840 of this is their partnership with traditional finance 476 00:26:44,840 --> 00:26:49,920 institutions and bringing real world assets, tokenized stocks, 477 00:26:50,200 --> 00:26:55,800 securities, bonds on on chain, which was if, if we think back 478 00:26:55,800 --> 00:26:58,680 to when World Liberty 5 launched, that was the original 479 00:26:58,680 --> 00:27:02,040 vision was real world assets. I won't even say that going into 480 00:27:02,040 --> 00:27:04,280 real estate, it seemed like their vision was they wanted to 481 00:27:04,280 --> 00:27:08,640 do real estate on Jane and they were kind of using D Phi as the 482 00:27:08,640 --> 00:27:11,440 path to to get there. At least that was my read. 483 00:27:11,440 --> 00:27:15,560 And then we've we've kind of gotten thrown off with them, you 484 00:27:15,560 --> 00:27:17,960 know, in the past couple months just actively buying and 485 00:27:17,960 --> 00:27:22,280 accumulating crypto tokens, but it looks like they're doing 486 00:27:22,280 --> 00:27:23,640 both. So, so they're building up their 487 00:27:23,640 --> 00:27:27,160 reserves, Bitcoin E others you can kind of see, you can go 488 00:27:27,160 --> 00:27:31,080 through and look at what other tokens they hold a few RWA 489 00:27:31,080 --> 00:27:34,880 tokens like Ando is in there. Are they a few of the D5 tokens 490 00:27:34,880 --> 00:27:36,960 as well? And now they're they're 491 00:27:36,960 --> 00:27:40,040 partnering, they're going to continue this partnership to 492 00:27:40,040 --> 00:27:42,000 bring real world assets on chain. 493 00:27:42,000 --> 00:27:47,120 So I don't know, it feels like pretty positive momentum, a 494 00:27:47,120 --> 00:27:48,880 positive update. Do you have any, do you have any 495 00:27:48,880 --> 00:27:51,760 read on this Mando? Does it matter that they have 496 00:27:51,760 --> 00:27:54,160 their own strategic token reserve? 497 00:27:54,760 --> 00:27:58,080 Yeah, for World Liberty Financial, I just, I'm I've 498 00:27:58,120 --> 00:28:00,640 since the start, I've been less kind of bullish on that entity 499 00:28:00,640 --> 00:28:02,240 in general. It just kind of feels slightly 500 00:28:02,240 --> 00:28:04,600 griftery like they're just trying to do whatever they can 501 00:28:04,600 --> 00:28:09,000 to to make money. And it's not it's like Trump 502 00:28:09,000 --> 00:28:12,120 adjacent rather than like Trump feels like, Oh yeah, we're going 503 00:28:12,120 --> 00:28:13,560 to try and do defile. That didn't work. 504 00:28:13,560 --> 00:28:16,320 We're going to do this like, and now they're doing a 505 00:28:16,320 --> 00:28:19,400 MicroStrategy style, but MicroStrategy works because they 506 00:28:19,480 --> 00:28:21,320 they borrow billions and billions of dollars. 507 00:28:21,760 --> 00:28:23,680 I don't know if World Liberty Financial is going to be able to 508 00:28:23,680 --> 00:28:26,800 do that. And seemingly they have like a 509 00:28:27,160 --> 00:28:30,120 you scratch my back. I scratch your policy where like 510 00:28:30,640 --> 00:28:33,000 people have to come in and buy their token for them to buy the 511 00:28:33,000 --> 00:28:37,840 coin, which sounds like bribery almost to just like get a 512 00:28:37,840 --> 00:28:41,120 political endorsement of a coin. So I'm not, I'm not. 513 00:28:42,160 --> 00:28:45,680 Well, Liberty Financial for me just feels kind of on the edge 514 00:28:45,680 --> 00:28:48,240 of grift. They they might like their they 515 00:28:48,240 --> 00:28:51,080 kind of legitimate, legitimate because it was Trump. 516 00:28:51,080 --> 00:28:54,160 But if if it wasn't Trump, then it'd be like, yeah, who the hell 517 00:28:54,160 --> 00:28:56,640 are these guys? Well they wouldn't be able to 518 00:28:56,640 --> 00:28:59,520 complete the raise if it wasn't for the Trump meme coin launch, 519 00:28:59,560 --> 00:29:00,680 right? You know what I mean? 520 00:29:00,680 --> 00:29:02,960 And they they launched it just after the Trump meme coin. 521 00:29:02,960 --> 00:29:07,280 Like, it just feels like a kind of a bit of a slush fund for the 522 00:29:07,280 --> 00:29:11,680 for the, the Trump sons there. That's fair. 523 00:29:11,680 --> 00:29:14,600 I I do wonder if there's any signal in the assets they're 524 00:29:14,600 --> 00:29:19,120 buying which perhaps might be included in a reserve or a 525 00:29:19,120 --> 00:29:21,800 sovereign wealth fund. Do you think that though? 526 00:29:21,800 --> 00:29:25,400 I feel like maybe that does mean that like, but again, that just 527 00:29:25,400 --> 00:29:27,920 kind of feels, it feels as though their policy is 528 00:29:27,920 --> 00:29:30,560 explicitly like you buy our coin, it will buy yours. 529 00:29:32,520 --> 00:29:35,880 That part's not great. It's just isn't, yeah, I don't 530 00:29:35,880 --> 00:29:39,760 know, maybe that's how you get your your your ass on the US 531 00:29:40,600 --> 00:29:42,520 like reserve list. I don't know. 532 00:29:42,520 --> 00:29:44,960 I would like to think that David Sacks is quite separate to that, 533 00:29:44,960 --> 00:29:46,400 but. Yes. 534 00:29:46,480 --> 00:29:48,400 I mean, the sovereign wealth fund is probably where you would 535 00:29:48,400 --> 00:29:51,520 have a better bet because that feels like it's a little less 536 00:29:51,640 --> 00:29:54,920 overseeing perhaps. Yeah. 537 00:29:56,280 --> 00:30:00,680 But again, we will will see a few other headlines as we look 538 00:30:00,680 --> 00:30:02,960 to round this out tighter show here today. 539 00:30:02,960 --> 00:30:07,960 You mentioned jail stool, quite the rebound for Portnoy's token. 540 00:30:08,960 --> 00:30:11,360 Yeah, wow, look, look at that. I didn't realize it got back up 541 00:30:11,360 --> 00:30:13,920 to 82. He's done very well in keeping 542 00:30:13,960 --> 00:30:19,120 people people's attention. It's the Crash game. 543 00:30:19,600 --> 00:30:21,440 It's the Crash game. Let's see what happens. 544 00:30:22,240 --> 00:30:24,760 And then he like he, he fudged one of his trades yesterday. 545 00:30:24,760 --> 00:30:29,200 He basically lost like 200K in slippage, right? 546 00:30:29,360 --> 00:30:33,360 So this isn't pumping because he's just buying it all himself. 547 00:30:33,520 --> 00:30:37,440 A part of my core thesis going into this was that the longer it 548 00:30:37,440 --> 00:30:41,320 lasted with him continuing to talk about it, the more bullish 549 00:30:41,320 --> 00:30:44,280 slash Lindy it would be. And of course, Lindy's tongue in 550 00:30:44,280 --> 00:30:47,080 cheek here. It's four days old meme coin ran 551 00:30:47,080 --> 00:30:51,360 by Dave Portnoy. But it does feel like the market 552 00:30:51,360 --> 00:30:54,600 is kind of responding to that. I think there was always 553 00:30:54,600 --> 00:30:57,360 concerns the first day or two. Is he just going to sell this? 554 00:30:57,360 --> 00:31:00,040 Is he just going to abandon it? And every day they talks about 555 00:31:00,040 --> 00:31:03,000 it more. It it seems less likely. 556 00:31:03,800 --> 00:31:08,120 On each of those points. We got to quickly show the the 557 00:31:08,120 --> 00:31:11,480 choose rich clap back video. Probably won't play the whole 558 00:31:11,480 --> 00:31:16,800 thing, but Nick did do a diss track aimed at Dave. 559 00:31:16,840 --> 00:32:42,520 Let's see if we can play it. I got to give him credit A plus. 560 00:32:42,520 --> 00:32:43,560 You couldn't hear that, by the way. 561 00:32:43,800 --> 00:32:45,360 You couldn't hear that? No, I think. 562 00:32:45,800 --> 00:32:46,960 The space could, but we couldn't. 563 00:32:47,360 --> 00:32:49,240 Oh, sorry about that. Oh, I would have. 564 00:32:49,320 --> 00:32:51,520 I would have cut it sooner. Apologies to anyone who couldn't 565 00:32:51,520 --> 00:32:56,760 hear that in the stream. Nick and Dave's beef basically 566 00:32:56,760 --> 00:32:58,680 started like two or three days ago. 567 00:32:58,680 --> 00:33:01,480 So they they turned around the video in in two days. 568 00:33:01,560 --> 00:33:07,960 Very well, very well done, well produced still still got me on a 569 00:33:07,960 --> 00:33:10,680 handful of those lines. I love PO weighing in. 570 00:33:11,720 --> 00:33:14,520 So it was good. We'll we'll see if Dave claps 571 00:33:14,520 --> 00:33:18,200 back here today, he may not care. 572 00:33:18,200 --> 00:33:22,000 He might just be watching his wallet balance go up as jail 573 00:33:22,000 --> 00:33:25,080 stool continues, continues to grind up. 574 00:33:25,320 --> 00:33:28,800 So it's still kind of the leading attention point again 575 00:33:28,800 --> 00:33:31,320 and LED LED volume on Solana yesterday. 576 00:33:32,080 --> 00:33:34,920 We'll see if anything is able to displace it. 577 00:33:35,640 --> 00:33:41,840 Maybe it's relax, who knows. This this Duo coin tied to 578 00:33:41,840 --> 00:33:44,480 Duolingo got to like 10 million. There's not really a whole lot 579 00:33:44,480 --> 00:33:49,840 else going on in these streets. The AI tokens so we can pull up 580 00:33:49,840 --> 00:33:51,080 quickly. Look at the AI board. 581 00:33:51,080 --> 00:33:53,920 I think it was mostly chopped or some dip from yesterday. 582 00:33:54,240 --> 00:33:59,800 Let's see how far coins holding up at 52 cents ARC 280 million 583 00:34:00,320 --> 00:34:03,560 down from local highs down about 10 to 15%. 584 00:34:03,960 --> 00:34:08,560 AI16Z is down a little bit more. So I think the next couple of 585 00:34:08,600 --> 00:34:10,679 days are going to be very interesting on these AI tokens 586 00:34:10,719 --> 00:34:14,880 to see like do we really have new bottoms in or are these 587 00:34:14,880 --> 00:34:22,199 still pretty shaky or not? And I don't know, I'm cautiously 588 00:34:22,199 --> 00:34:26,040 optimistic that perhaps we put bottoms in on something this 589 00:34:26,040 --> 00:34:28,120 house sold in sold back at 19350. 590 00:34:28,120 --> 00:34:30,520 All right. So I think as long as souls up 591 00:34:30,520 --> 00:34:34,800 over 190, I think these should be at least all right, where 592 00:34:34,800 --> 00:34:39,719 where we get things get dicey as if soul goes back to sub one 593 00:34:39,719 --> 00:34:41,920 85180. I think that's where we probably 594 00:34:41,920 --> 00:34:44,800 revisit bottoms on, on some of these tokens. 595 00:34:45,320 --> 00:34:47,960 That feels like a good level to consistently try and buy Solan 596 00:34:48,000 --> 00:34:51,920 Air if I'm honest. 180. Yeah, around that level I 597 00:34:51,960 --> 00:34:55,480 reckon. Makes sense this MLG. 598 00:34:55,480 --> 00:34:57,320 Did you? Were you following some of the 599 00:34:57,320 --> 00:35:01,040 the drama with Aiden Ross and and Frank degods? 600 00:35:02,360 --> 00:35:04,800 Yeah, but I mean, that's been drama for a while though. 601 00:35:04,800 --> 00:35:07,400 No. Well, I I thought that's he like 602 00:35:07,400 --> 00:35:11,280 tweeted out like the day afterwards, like basically like 603 00:35:11,280 --> 00:35:14,000 this guy dumped on me. I don't know, did he dump? 604 00:35:14,040 --> 00:35:16,920 Like somebody told me that someone had sent me like 605 00:35:18,000 --> 00:35:23,440 somebody had sent me like wallets but but like I have no 606 00:35:23,440 --> 00:35:25,880 idea. Frank said he didn't. 607 00:35:25,880 --> 00:35:29,360 I think most people he didn't, but I think it was on Aiden 608 00:35:29,360 --> 00:35:33,200 Ross's stream yesterday or the day before that he was kind of 609 00:35:33,200 --> 00:35:36,560 calling Frank out, saying he doesn't vibe with them and 610 00:35:36,560 --> 00:35:39,280 clearly he's not happy with the price action of MLGSI think he's 611 00:35:39,280 --> 00:35:40,960 not happy. With the price action, yeah, You 612 00:35:40,960 --> 00:35:42,400 know what I mean? Like if the price is high 613 00:35:42,400 --> 00:35:44,120 probably still he wouldn't he wouldn't care. 614 00:35:44,520 --> 00:35:47,320 But I don't think I think what thread guy said was probably the 615 00:35:47,320 --> 00:35:49,240 right thing. Like you don't buy if you they 616 00:35:49,240 --> 00:35:50,680 shouldn't have made him buy on stream. 617 00:35:50,920 --> 00:35:53,560 Like it's for this like weird event for that token. 618 00:35:53,560 --> 00:35:55,080 I still like that coin a lot. Can. 619 00:35:55,960 --> 00:36:01,800 I ask if you still like it. I yeah, I feel like it's it's 620 00:36:01,800 --> 00:36:05,000 lost some of its luster. Well, obviously because the 621 00:36:05,000 --> 00:36:08,160 price is low, but I but I I also think, yeah, the the the bait 622 00:36:08,160 --> 00:36:13,680 Cabal's, you know, they they're getting a lot more flak than 623 00:36:13,720 --> 00:36:16,920 than what they did. But I do think that I I look for 624 00:36:16,920 --> 00:36:19,240 coins like that where it's like there's a different audience, 625 00:36:19,360 --> 00:36:20,360 you know, it's a different audience. 626 00:36:20,360 --> 00:36:23,000 Like UFD, for example, would be a good another good example of 627 00:36:23,000 --> 00:36:25,560 that, right. This one feels like a bit more 628 00:36:25,560 --> 00:36:31,880 of a, you know, like after that after the dev lost is UFD, it's 629 00:36:31,880 --> 00:36:34,320 tough for him to continue to be involved and keep his audience 630 00:36:34,360 --> 00:36:36,680 engaged. But this one feels like quite 631 00:36:36,680 --> 00:36:39,120 seamless that that a gaming audience could stay. 632 00:36:39,480 --> 00:36:43,240 It feels like it needs to go back to its like core gaming 633 00:36:43,240 --> 00:36:46,400 audience and a little bit less stuff like this is the Faze 634 00:36:46,400 --> 00:36:50,520 Banks Eden Ross Babe cabal coin. Yeah, yeah, yeah. 635 00:36:50,840 --> 00:36:53,640 And if it does that, then I think it can probably be strong 636 00:36:53,640 --> 00:36:55,440 again, we'll see. Maybe it's a bias. 637 00:36:55,440 --> 00:36:57,680 It's down 75% now from from highest. 638 00:36:57,880 --> 00:37:01,280 Those are typically decent buy zones if if you have been 639 00:37:01,280 --> 00:37:03,560 patient in eyeing this one. There's only one other coin 640 00:37:03,560 --> 00:37:05,480 doing game of meme coins, you know. 641 00:37:06,400 --> 00:37:09,800 Yes. Small niche of of coins. 642 00:37:10,000 --> 00:37:10,920 It's a tight. Family it's. 643 00:37:11,400 --> 00:37:13,760 A tight family. I'm definitely with those guys. 644 00:37:13,760 --> 00:37:17,200 I think they can do well. We will root for them. 645 00:37:17,680 --> 00:37:19,520 Let's see other news. So myriad shout out to the 646 00:37:19,520 --> 00:37:24,800 Marriott team here First USDC market officially goes live here 647 00:37:24,800 --> 00:37:27,240 today. I think it may actually be live 648 00:37:27,240 --> 00:37:29,680 so that. TT, not USDC. 649 00:37:30,240 --> 00:37:34,560 Oh sorry, first time you can bet with real capital and not just 650 00:37:34,560 --> 00:37:36,240 points. It's not USCC, it is the Pingu 651 00:37:36,320 --> 00:37:39,960 token. This will be tied to this 652 00:37:39,960 --> 00:37:43,400 Diamond Hands poker event. It looks like ours ours. 653 00:37:43,400 --> 00:37:50,560 Truly baroque versus Luca, that's going to be the the the 654 00:37:50,560 --> 00:37:53,080 bet here. So you're able to predict who 655 00:37:53,080 --> 00:37:57,760 wins between Luca and Farrokh. Play poker. 656 00:37:57,760 --> 00:38:02,440 I don't think I've ever heard him say like never heard. 657 00:38:02,440 --> 00:38:07,760 Me so Farrokh's 46% Lucas 54. I feel like I might have to 658 00:38:07,760 --> 00:38:10,280 apologize to our to our host here. 659 00:38:10,840 --> 00:38:15,320 I feel like my money is going to be on on Luca on this one. 660 00:38:16,400 --> 00:38:22,040 What do you think? I mean, Faroque is a ferocious 661 00:38:22,040 --> 00:38:29,000 gambler, so my guess is he'll go all in quite early on and maybe 662 00:38:29,000 --> 00:38:32,480 the Luxworth and maybe it's not. I can see that. 663 00:38:32,920 --> 00:38:34,800 It can add you a little bit more context here. 664 00:38:34,800 --> 00:38:38,400 Just because we're drip feeding information this week, there 665 00:38:38,400 --> 00:38:41,520 should be 6 or 8 markets out by Saturday. 666 00:38:41,520 --> 00:38:43,480 We're going to be slowly revealing all the players. 667 00:38:43,960 --> 00:38:46,920 There are some degenerate gamblers, big degenerate 668 00:38:46,920 --> 00:38:49,440 gamblers that are going to be in this, some more commonly known 669 00:38:49,520 --> 00:38:52,560 faces and names that you'll know that have performed in other 670 00:38:52,640 --> 00:38:54,560 poker events and poker tournaments that people have 671 00:38:54,560 --> 00:38:56,600 seen before. There will be a professional 672 00:38:56,600 --> 00:38:58,560 player in there that's pretty big within the scene. 673 00:38:59,200 --> 00:39:01,600 There'll be a variety of bets. We'll have a lot of head to head 674 00:39:01,600 --> 00:39:05,280 and PvP style stuff, KOL versus KOL, if you will. 675 00:39:05,840 --> 00:39:08,760 And then we'll have some fun things like anyone, Paul for of 676 00:39:08,760 --> 00:39:11,760 a kind, for example. But it's pretty, it's pretty big 677 00:39:11,760 --> 00:39:13,440 for the business. It's the first time we've ever 678 00:39:13,840 --> 00:39:16,800 allowed, you know, real money markets if you will. 679 00:39:17,600 --> 00:39:19,360 This is the first step towards USDC. 680 00:39:20,200 --> 00:39:24,320 And yeah, amazing to see all the systems firing off this morning. 681 00:39:24,480 --> 00:39:28,480 Bets have been placed. Were almost up at 200 K wagered 682 00:39:28,800 --> 00:39:30,200 on Penguin. You can see at the bottom left 683 00:39:30,200 --> 00:39:31,760 hand corner. Yeah, nice. 684 00:39:32,040 --> 00:39:33,920 But by Saturday, this will be all streamed and abstract as 685 00:39:33,920 --> 00:39:35,400 well. This is in partnership with them 686 00:39:35,400 --> 00:39:38,600 and so forth. By Saturdays you have 6 to 8 687 00:39:38,920 --> 00:39:41,040 markets on here. You'll know all eight players 688 00:39:41,040 --> 00:39:42,240 that are going to be playing in this. 689 00:39:42,800 --> 00:39:45,480 Oh yeah, people just get someone that can Chuck the finger out. 690 00:39:46,000 --> 00:39:48,320 When is the? When is the game? 691 00:39:48,320 --> 00:39:53,120 So the market closes at 17. 100 Saturday 12:00 I believe it's on 692 00:39:53,120 --> 00:39:55,240 the video and on the graphics. Nice. 693 00:39:55,280 --> 00:39:57,760 OK, cool. So folks will be able to watch 694 00:39:57,760 --> 00:39:59,400 this live on? They're going to. 695 00:39:59,520 --> 00:40:03,440 Be able to stream it on abstract and then you'll be they'll be 696 00:40:03,440 --> 00:40:07,840 streaming myriad markets as you put the put it in that banner 697 00:40:07,840 --> 00:40:11,120 and header and then people just be able to go on go on betting. 698 00:40:11,760 --> 00:40:13,760 Yeah, have a crack and see if you can win any money. 699 00:40:14,320 --> 00:40:16,920 So folks need to be on abstracts on the Myriad site. 700 00:40:16,920 --> 00:40:20,600 They need to have some Pingu in their wallet to to be able to to 701 00:40:20,600 --> 00:40:22,000 wager. Correct. 702 00:40:23,240 --> 00:40:25,000 All right. Well, folks, you heard it here 703 00:40:25,000 --> 00:40:26,200 first. If you want to get some action 704 00:40:26,200 --> 00:40:30,480 down on Myriad's inaugural market to be here for the 705 00:40:30,480 --> 00:40:33,560 beginning for Oak versus Luca, choose your fighter. 706 00:40:34,040 --> 00:40:37,200 You will be able to get in on that. 707 00:40:38,960 --> 00:40:41,960 I'm going to bet. I'll for sure be betting on this 708 00:40:41,960 --> 00:40:46,720 one here later today. I don't. 709 00:40:46,720 --> 00:40:48,120 I think that's it. I think we went around the horn. 710 00:40:48,120 --> 00:40:50,160 As you said, it's it's been a little bit of a quieter week. 711 00:40:50,160 --> 00:40:52,800 I feel like we we started January with up to like a manic 712 00:40:52,800 --> 00:40:54,960 start. Definitely slowed. 713 00:40:55,320 --> 00:40:59,880 Definitely slowing down a little bit so folks start to rest up a 714 00:40:59,880 --> 00:41:00,960 little bit. Good, good. 715 00:41:01,560 --> 00:41:03,200 Everyone keeps talking about how tired they are. 716 00:41:03,200 --> 00:41:04,480 I see it, I see that on the timeline. 717 00:41:04,480 --> 00:41:09,560 Everyone's so tired. Rest gear up for the the 718 00:41:09,560 --> 00:41:15,280 continuance of this golden bull run that might revive any day 719 00:41:15,280 --> 00:41:16,200 now. We'll see. 720 00:41:16,200 --> 00:41:18,200 My moon called bottom Mando called bottom I. 721 00:41:18,240 --> 00:41:20,080 I'm going to listen to him. I think we're going to end up 722 00:41:20,080 --> 00:41:23,800 higher here later today. We will talk about it on well, 723 00:41:23,960 --> 00:41:27,120 no show tomorrow. I'm out, Mando is out and the 724 00:41:27,120 --> 00:41:29,000 direct event is happening in Paris. 725 00:41:29,000 --> 00:41:32,520 Good luck with that. That is going to be a fun one 726 00:41:33,760 --> 00:41:38,480 and we will be back on Friday. I'll be back with Logan, back on 727 00:41:38,480 --> 00:41:40,440 the show for the first time in a few months. 728 00:41:40,440 --> 00:41:43,800 We might try to get a special guest as well. 729 00:41:44,000 --> 00:41:46,200 But As for today, that is it. That's going to be our show. 730 00:41:46,200 --> 00:41:48,680 I want to thank our listeners. I want to thank our partners. 731 00:41:48,680 --> 00:41:51,600 We will be back on Friday at 10:00 AM Eastern. 732 00:41:51,600 --> 00:41:53,200 Till then, go make it a great day. 733 00:41:53,600 --> 00:41:53,880 Goodbye.