Good morning. Good morning GMGM folks.
Welcome to another episode of SOMO.
Our day that is Wednesday, February 12th.
We are off to a violent start in the markets here.
This morning CPI came in hot, real hot.
Markets didn't like it, started puking.
Looks like we're starting to see a rebound.
My moon quant My moon quant says we typically bought them on days
of full moons. Guess what?
Full moon today, Snow moon. So who's your moon quant?
Oh, I have a few. It's not just one.
I've sourced them on on crypto Twitter.
Oh, OK. And so this is like this is the
new Mariam, was it? What was that was her name for?
Yes, very similar. So they really first got my
attention back on the January dip and the full moon marked the
local bottom in January for the third consecutive cycle after in
a four in the four year cycle coming off of a new presidential
election, the full moon marked the bottom in January and the
full moon Kwans called it and they, they called, they're
calling bottom today as well. So when my moon quads speak, I,
I listen. So that's, I'm ready to go full
on. What we don't know is where the
bottom is today. So is the bottom already in?
Is it going to come later this afternoon?
We still have about 14-15 more hours left to try to figure this
out. Yeah, I'm market definitely
didn't like. Well, to be fair, the market
just continued the trend that it's kind of been on, which has
been, it's basically been a downward trend since the 28th of
of January, right? I, I don't think today's enough
to, to like freak out at all. Maybe that's like what the
overhang was a little bit, but we've kind of had this sentiment
from Powell for a bit here. You know, we're going to wait
and see. Data dependent.
No, no rush to cut rates. I think the market was only
pricing in one rate cut this year up until today.
So and I don't know what it is right now, but this isn't this
isn't like shocking inflation has been going up slightly.
It's not like double digits or anything like that, but we're
talking about like 3% rather than 2.6%, you know, so like
more like a manageable increase. Let's say the Bitcoin went down
to 95 K. That's kind of where it's not
really where it's bounced, but like it's, it's seemingly
bouncing around 94 K here. Obviously, the main bit of
resistance here would be between 90 and 92 K where wherever we've
been like wicked into that, into that region, we've bounced
fairly aggressively off the back of that.
It feels as though we're just kind of in a bit of a no man's
land here. Although I happened, one thing I
did I did pick up on today is that funding rates have kind of
gone negative across the board or for a lot of assets.
A lot of altcoins are being heavily shorted in this market.
Heavily shorted. You can see it because funding
rates are negative. Yeah, pretty much for I would
say 50% of the alts that I'm looking at, funding is is gone
negative. So particularly in memes,
particularly in AI, people are people are adding to shorts.
Yeah. That that feels like the the
consensus that that I see on the timeline.
So what could go? What could go wrong when
everyone piles in short, after 80 to 90%?
Right. That's what I kind of mean.
It's like I, I definitely think that that the, that, that's a
risky bit of the market to be piling into shorts for.
And I think one good piece of news, as we kind of saw with ARC
and A16AI16Z and and Fartcoin yesterday, like you can get big,
big Wicks. So my general sense is if we see
some civility here, and I don't think, I don't think Bitcoin's
going to go down much lower here.
I think I think you'll see a decent bounce today.
I actually do like I'm buying today because I think that this
is this is a little bit of a local bottom.
Maybe Mando is my new moon quant folks.
You, you heard it here first. He's he's aligned with the moon.
The literal moon boys. I'm aligned with the moon boys,
yeah. Fantastic.
Well, I want to get into your market report here in a minute.
We'll definitely talk about that Today.
We're going to talk about Trump appointing crypto friendly
quintens for the CFTC Chair. Jason Calacanis wants the SEC to
ban meme coins. Hester Peters says no way.
She loves freedom and the SEC isn't touching meme coins, so
rough day for Jason the Trump family.
WLFI has rolled out macro strategy, so we'll talk about
that. Dave Portnoy's roller coaster
continues and choose Rich. Nick claps back.
We might have to play the diss track later on.
Big day for Myriad and there's a few meme and NFT headlines.
There is a lot to get into before we do.
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All right, Mando, let's get into.
It can you dig it GM everyone. So I think we kind of just went
into a little bit of a brief overview there, but the core
inflation came in nought .2% above expectations.
Inflation came in nought .1%. We are around 3% inflation down
from kind of two and a half 2:00-ish towards the back end of
last last year. Majority of the inflation seems
to be coming from from shelter. I don't know, like I don't think
the Fed's going to do anything on the back of this.
Like 3% is not won't, won't make them, probably won't make them
cut rates, but it's definitely not that aggressively higher
than than their like long term average.
The long term average inflation is like 2.6%.
So like we're just kind of hanging around that sort of
level. It'll be, I think the main way
the Fed would turn on QE is if like these high rates cause to
some sort of stress in the economy.
Because for now it just feels like inflation is going to stay
a little bit sticky around this around this 2 to 3% area for for
a little bit here. The market didn't like it.
Well, it hadn't been liking it for a while, right?
Ever since ever since the yeah, I guess late, late to mid Jan,
we've been in this kind of downward trend.
This kind of takes us back to sort of the levels that we saw
about 10 days ago on that Wick lower.
But but I do think it the market sounds like a little bit
oversold here or like I'm starting to see some.
I I would say this is something to look like exhausted sellers
sort of market like. I don't that sort of a figure
that we saw isn't really about like isn't going to change the
needle much for me. So if things are getting
absolutely smacked on the back of it, back of it, I think
that's the sort of market where I would I would look to buy.
So that's what I'm doing today. In case you're wondering, the
there was very little in terms of majors news apart from like
it looks like we're heading closer and closer to ETFs across
the board. Solana, the CSSEC has asked for
public comments on a bunch of different solid ETFs.
So people getting bullish that that could happen relatively
soon. It sounds like they're going to
be acknowledging the XRPETF tomorrow as well.
There is a like a in terms of the states, it looks like
Oklahoma has got some sort of vote on the floor around this
Bitcoin policy. I don't there's 2122 states
which all are trying to push towards a Bitcoin reserve at the
moment. So we're going to hear lots and
lots of headlines around each individual state.
But it does feel as though some of them are getting relatively
close. Powell was was kind of
similarly, I wouldn't say bullish, but but less aggressive
towards crypto. He said, look, we're going to
investigate the DE banking. We don't want to have a CBDC and
he said we should get stable coin regulation, which is kind
of what's seemingly has been happening more recently.
So he seems to be less aggressive towards crypto, which
is, which is a good move and does look like interestingly the
one of the A16Z executives is going to take a position at the
CFTC. So yeah, pretty, pretty decent
role there or decent change from Gensler to some from A16Z in
terms of a macro, macro stocks, stocks they've been a bit of a
holding pattern to the main thing is like Tesla's been going
lower, Meta's been going higher. So there's been a bit of a
change over there, but and the dollar has gone a little bit
stronger today, but like again, it's they've been kind of
treading water for a couple weeks now as well.
The only real like mover to pay attention to has been gold, but
that's down a little bit today. So not much happening on, on, on
macro either, at least not to say that like, Oh my God,
Bitcoin should be down like 50% in this environment.
It does look, looks like stocks are down like 1% in the US or
like less than 1% nought .5 to to one depending on the index.
And then in Europe and Asia, they're down like very, very
slightly. So yeah, not, not, I don't think
the market's generally freaking out over Kiwi here either.
The broader market on the left curve stuff yesterday again was
was was more quiet than than the previous few days, Fewer like
daily runners. And it feels as though maybe
barstool continues to be or sorry, jail still continues to
be like the main token in terms of volume, which just surprises
me like 3 or 4 days after launch.
But obviously there was this competition for hype video and
then you had the the choose or is it choose Rich?
Where is he coming from now? Choose Rich Nick like this
video. Other than that, like as I
looked through there was this very few I've seen some like
light commentary that B&B is starting to see activity pick up
again. There was a runner yesterday on
B&B. We obviously had two tokens last
week that were listed by Binance test and I forget the name of
the other one, but maybe we see a bit of a if, if Binance could
be more aggressive on their listing procedures.
Maybe we'll see something there. You don't really know.
And and as you kind of said, has to Pierce seemingly as said meme
coins are likely to be free game.
So I think people felt a little bit bullish about that sector
for crime or otherwise. But yeah, I would say this has
been the quietest day that I've done the minutes in in a while.
Yeah, it was a nice recap. Maybe we can work backwards.
So I've been seeing the, the, the B&B meme chatter as well.
Interestingly, it's from kind of somewhat adjacent crew who is
aggressively rotating as it is. So I don't know, I'm, I'm kind
of in the indifference camp right now towards memes.
I'm a fairly active meme trader, but I got in trade yesterday and
it, it felt kind of refreshing. And I look at the Solana board
this morning and I don't feel like I missed anything.
And I hear chatter that, OK, some folks are grinding on B&B.
That's great. But that also just kind of feels
like a trap. Like we we saw that with like
the Tron memes. We've seen it before.
I know like B&B had a meme season in 2021.
People keep reminding us about that.
I don't know. It doesn't seem like we've got
crazy volumes over here. Like the leaders are doing, 20
to 40 million. Captain B&B clearly the winner,
up 100%. I bought I bought a new meme for
the first time in a long, long time.
Wow. Yeah, on which I bought this,
this relaxed dog. Thing.
My sister, my sister sent me the meme and was like, it sent me
the meme in one of our group chats, which I then used as a
meme. And yeah, this, I don't know.
I just vibe with this dog man. I was like, I actually like
this, this. I miss the days where you see a
meme, you like a meme, you buy the meme.
Do you know what I mean? It's like, Oh, this is actually
a good like, do you know what I mean?
I felt good to be like, I'm in this coin, in this coin, because
I like that that dog rather than which, which, which which pump
and dump fucking Kol is in this one and or which celebrities
going to come in and and launch a coin or Internet capital
markets. This just felt like a bit more
pure as a as a meme to me. So.
So I, I'm laughing because like I, I have buddies in my trading
group who bought this and I was like telling them not to because
it was the same, It was the same KO Wells who've been like, so
literally, I'm, I'm going to call Wiz out here.
Wiz has been pounding the table, telling everyone that they need
to aggressively rotate and not hold any more than an hour.
And then last night he buys the relaxed dog.
He says, no, I'm going to hold this one.
I'm just going to relax and hold this meme.
That's the point. It's just there's something
about this at this time of juncture where I was like, you
know what, I quite like this. Like very, very chill.
Just it gave me chill guy vibes so.
Just incredible. Things which went down to like
fucking zero, but but like, that was the that was the first time
I was like, you know, this is a meme.
I like why can't we just buy memes that we like anymore?
That's what. That's where we started.
That's what. We're and I cut I I cut it was
interesting. I saw a tweet from Dees
yesterday, which was who's, you know, director of vibes in his
time. He said something like the ebb
and flow of rotate out of this bag ASAP and believing in
something is natural when everything is everyone is doing
one thing and it becomes common knowledge as the most plus EV
strategy. Usually a decent time to to look
on the opposite side of the spectrum.
So I think what he's saying there is that everyone is doing
the hyper rotation. Maybe it's time to buy some
stuff that you like. Wow.
You vibe with a little bit more and I kind of felt that when I
saw that, I was like, yeah, I think I, I kind of agree with
that too. Like if you like, if you like
the vibes of a project, maybe maybe that'll be the runner.
So that's what that's what I bought as well.
Maybe relax is is going to is going to make it here.
Oh, it was a good sales pitch for sure.
It's just a dog. To be.
Clear, which which looks like it's it's chilled out, but my my
sister who's big on TikTok, I think our family brought to him.
Incredible. Well, we're happy to hear that
you are back in the trenches. Maybe I want to pull back a
little bit. Appreciate your commentary.
You kind of said that you feel like the bottom is in.
You said you're bidding. I'm buying today for sure.
This is this is crazy. What are you bidding?
I, well, I bought a decent amount of of JLP again
yesterday. I bought some, I bought some
fart coin. I'll buy, I'll buy bags, which
will remain nameless and radium. I bought a decent amount of so
just just just stuff which I like.
I'm not bearish today. If, if, if someone's telling me
we're about to go down to 92 K because of QE, sell all your
high risk stuff. Like I don't think that's what's
happening today. And I think the people who are
doing that are the ones who've lost 90% on that coin or, or
like have been wrecked and are now trying to like get that last
gasp of a three to 4% move in Bitcoin.
And actually they can get their faces ripped off because
everyone's short seemingly. Like you can see it, you can see
with negative funding across a bunch of old coins, like you can
bounce quite aggressively, but. Yeah, well, I like that.
I think a lot of these like radium looks like it's kind of
been tapping off of this level. So that feels like a decent
entry. What jumps out to me, I'm a I'm
a I'm looking for the pump fun stats here.
Like anecdotally, like I look at the Solana board and it feels
like the trenches are kind of a ghost town.
Like there's a handful of runners per day.
They're not even going that high.
And then I pull up the stats and we're, we're we're effectively
at all time high launches still like we're not low off top, but
we're still at 50,000 tokens being launched per day.
And it's like I'm, I'm like disconnected from this sector of
the market at this point. Because if you would have asked
me, like my gut feel how many tokens are launching today, I
would have said we're back to 10 to 20,000 like we're we're back
down here. But like that's clearly not the
case. So there's clearly like these
syndicates out there. I'm seeing more chatter about
this, maybe this is tinfoil hat, maybe I'm out of out of out of
my bag here, but that these syndicates are effectively just
just industrial pump phone launches, launch launches at
this point. And the data kind of backs that
up, right? Like how are there 50,000 tokens
launching per day right now? Like there's, there's no buyers
for these, but like where I'm going.
Though that's the point, like people just play the daily
runners that like there's no one was holding anything else.
All the money that was in all the other slamming coins is just
is just now in Seoul or stables, right?
This is the this is the reason why it just doesn't feel like
the top to me. Bitcoin is not falling out of
bed. Like, yeah, it's hanging out
around 100K stable coin supply just keeps on going higher.
And like you said, like all the all these, all the different
metrics around activity are staying really high.
So like Dex volume has stayed high, active addresses has
stayed very high and new launches of meme coins have
stayed very, very high. So we what we've just seen is
just like a re, a rejigging of where people want to hold value.
That's all it is, at least in my opinion.
So we're not at indifference. The trenches are not indifferent
right now. Not not.
That's not what the data is telling us.
No, the trade, the trades are active, right?
Yeah, they're, they're incredibly active.
Is this our new normal? Like do you, do you think we
revisit August, September lows for, for coin launches per day,
10,000 per day or do you think we're just in a new paradigm
where the, the minimum threshold is just higher now for the
foreseeable future? I think the minimum threshold is
higher. That's what I think.
I do think that that what Dee said there makes sense.
Like it's now consensus to sell everything, you know, and the
people playing that I think can get, you know, may not see the
best returns even now because it really is just a case of hot
potato for an hour. And I think I actually think
something like these might make quite a lot of money in the
market like this, because it'd be like if he can pick a good
vibes project, you know, or like there's an artist come through
and does an artist coin or you know, you know what I'm trying
to say like there's a coin which.
It's always like bragging when when everyone is zigging like
that's the only way hit the big wins like you're never going to
hit the big win trying to catch the runner of the day when
everyone who like when all the pros are doing the exact same
thing as. You just relax dude.
Relax, coded, Relax. We'll see if this damn pain
token comes at any point that we are.
As the days slip by, I think we are more and more at risk of
time rugging the relevancy of this pain meme.
Yeah. So we'll, we'll see like if, if
the trenches turn around and are no longer in pain, I don't know.
I don't know if it's going to perform.
As well look at the market. What happened?
Bitcoin back to unchanged on the day.
Everything. Everything's going, boys.
We like that. Back.
When I looked at stocks right before the show opened, it
looked like everything basically gaps lower on the open and it
was just going straight back up. So I could just like you said,
like this really wasn't much of A headline to to to get worried
about. We're buying today, folks, we're
buying today. Where does it feel good?
All right, let's see what else is going on.
So we had Cal Santis. If folks aren't familiar with
Jason, he's been kind of like a, a foil for the broader crypto
space I'd say for for several years now.
He's I think he's the one who who famously told everyone, if
you're in crypto, pivot to AI effectively at the bottom he
does. He did the All In podcast with
Sax, who is now our Cryptozar. I think Sax is officially off
that POD. I think he came back.
He's on, well, he's on like as a guest kind of most weeks.
Like he hunts up like an hour or half an hour something.
Got it. So it's.
What I knew What's that pod it's.
Good. Oh yeah.
It's a very good pod. That's it's a long conversation.
They got a little propaganda E in 2024 it became a very
political show. Yeah.
Oh yeah. Very political.
Show still in general good macro show but now we have to listen
to what Jason says a little bit more because he's in Sax's ear
even though Sax is probably just going to dismiss him but he says
just ban these stupid fucking meme coins to.
Be clear, he said that live on the show Last week, David Sachs
came on and he said, are you going to regulate all these meme
coins? And so what's Sachs say?
No. It's actually a really good show
because David Sachs does come on there and actually just speaks
about government policy around crypto and AI each week.
So he gave a real like a really detailed description of what
happened with the whole press conference that he did, you
know, like why it was needed that those four heads.
It's so weird that there are four different heads, including
like the Agricultural Commission or whatever it is that needs to
be involved in this. And he said, like before, before
him being involved, it's been impossible to get them all to
agree that we need to push crypto forward.
Like one of them was always like, no, we don't want to do
it. So that's why he said it was
such a big deal because if you're not in Washington, you
don't get like, it's just been impossible to get to get
cohesive policy where all everyone's trying to push in the
same direction. And he even spoke candidly, like
I know people maybe were expecting, you know, a bigger
announcement that we're going to do some sort of Bitcoin reserve
there. Like it it because he is now the
Cryptozar and he speaks very candidly on that show each week.
You should, you should tune into it because you're going to get a
much better, clearer picture of, of, of what he and he, he pushed
back on Jason. He said no.
He basically said no. For that question, that's a good
tip. Well, I'll definitely get back
into my weekly listing. I'd fallen out a little bit.
I didn't realize Saks was still making so many appearances.
So. Yeah, he he dropped out
completely for a couple weeks, but now he generally comes back
on. OK, yeah, well that's going to
be must listen every week it it is funny to see Kyle Sanchez
continuing to to double down on this.
It's also funny that Hester Pierce and see if I I don't know
if I have the article up. What does he care?
So genuinely, why does he care like the one bit about crypto
where literally everyone's just everyone gets right that it's
just as Hester Pierce says, like you guys are big, you guys are
adults. If you want to play in this
market, that's for you. You know, we're not going to
come in and protect you. So like just just have that
response. Don't be like we need to ban
them. Just like that's the response
you want to play in this market, you can lose everything.
You can lose everything and nobody's there to save you.
You know what was even funnier is just hours after that he's
retweeting a parlay card that. He lost.
Yeah, exactly. So he's firing up 16 to one long
shot bets, 20 to one long shot bets, and happy to tout that
while just a few hours after saying we need to ban the meme
coins. So, Jason, we're not going to
take you seriously. It was fun.
Just the timing that Hester Pierce also said that she loves
freedom and the SEC is not even going to be looking over meme
coins in the same day. Looks like that will be likely
under the CFTC if they pick it up.
And now we've got the head of A16Z crypto policy, Brian
Quinton's heading that up. So we will certainly see what
that means for the meme coin market.
I think the other piece of big news was out of Trump's world
Liberty Fi. Yes, I think we've got to
briefly touch on this. So they announced their own
macro strategy. So Saylor has retired micro
strategy and that the Trump brothers are now picking up with
macro strategy. They're effectively launching
their own token reserve, strategic token reserve.
They name dropped Bitcoin, Ethereum, and then they left the
door open for other cryptocurrencies.
They've said why they're doing it to enhance the stability of
their protocol, foster defy growth, help build trust with
their community that they are effectively aligned with with
bag holders. And they're also the second part
of this is their partnership with traditional finance
institutions and bringing real world assets, tokenized stocks,
securities, bonds on on chain, which was if, if we think back
to when World Liberty 5 launched, that was the original
vision was real world assets. I won't even say that going into
real estate, it seemed like their vision was they wanted to
do real estate on Jane and they were kind of using D Phi as the
path to to get there. At least that was my read.
And then we've we've kind of gotten thrown off with them, you
know, in the past couple months just actively buying and
accumulating crypto tokens, but it looks like they're doing
both. So, so they're building up their
reserves, Bitcoin E others you can kind of see, you can go
through and look at what other tokens they hold a few RWA
tokens like Ando is in there. Are they a few of the D5 tokens
as well? And now they're they're
partnering, they're going to continue this partnership to
bring real world assets on chain.
So I don't know, it feels like pretty positive momentum, a
positive update. Do you have any, do you have any
read on this Mando? Does it matter that they have
their own strategic token reserve?
Yeah, for World Liberty Financial, I just, I'm I've
since the start, I've been less kind of bullish on that entity
in general. It just kind of feels slightly
griftery like they're just trying to do whatever they can
to to make money. And it's not it's like Trump
adjacent rather than like Trump feels like, Oh yeah, we're going
to try and do defile. That didn't work.
We're going to do this like, and now they're doing a
MicroStrategy style, but MicroStrategy works because they
they borrow billions and billions of dollars.
I don't know if World Liberty Financial is going to be able to
do that. And seemingly they have like a
you scratch my back. I scratch your policy where like
people have to come in and buy their token for them to buy the
coin, which sounds like bribery almost to just like get a
political endorsement of a coin. So I'm not, I'm not.
Well, Liberty Financial for me just feels kind of on the edge
of grift. They they might like their they
kind of legitimate, legitimate because it was Trump.
But if if it wasn't Trump, then it'd be like, yeah, who the hell
are these guys? Well they wouldn't be able to
complete the raise if it wasn't for the Trump meme coin launch,
right? You know what I mean?
And they they launched it just after the Trump meme coin.
Like, it just feels like a kind of a bit of a slush fund for the
for the, the Trump sons there. That's fair.
I I do wonder if there's any signal in the assets they're
buying which perhaps might be included in a reserve or a
sovereign wealth fund. Do you think that though?
I feel like maybe that does mean that like, but again, that just
kind of feels, it feels as though their policy is
explicitly like you buy our coin, it will buy yours.
That part's not great. It's just isn't, yeah, I don't
know, maybe that's how you get your your your ass on the US
like reserve list. I don't know.
I would like to think that David Sacks is quite separate to that,
but. Yes.
I mean, the sovereign wealth fund is probably where you would
have a better bet because that feels like it's a little less
overseeing perhaps. Yeah.
But again, we will will see a few other headlines as we look
to round this out tighter show here today.
You mentioned jail stool, quite the rebound for Portnoy's token.
Yeah, wow, look, look at that. I didn't realize it got back up
to 82. He's done very well in keeping
people people's attention. It's the Crash game.
Let's see what happens.
And then he like he, he fudged one of his trades yesterday.
He basically lost like 200K in slippage, right?
So this isn't pumping because he's just buying it all himself.
A part of my core thesis going into this was that the longer it
lasted with him continuing to talk about it, the more bullish
slash Lindy it would be. And of course, Lindy's tongue in
cheek here. It's four days old meme coin ran
by Dave Portnoy. But it does feel like the market
is kind of responding to that. I think there was always
concerns the first day or two. Is he just going to sell this?
Is he just going to abandon it? And every day they talks about
it more. It it seems less likely.
On each of those points. We got to quickly show the the
choose rich clap back video. Probably won't play the whole
thing, but Nick did do a diss track aimed at Dave.
Let's see if we can play it. I got to give him credit A plus.
You couldn't hear that, by the way.
You couldn't hear that? No, I think.
The space could, but we couldn't.
Oh, sorry about that. Oh, I would have.
I would have cut it sooner. Apologies to anyone who couldn't
hear that in the stream. Nick and Dave's beef basically
started like two or three days ago.
So they they turned around the video in in two days.
Very well, very well done, well produced still still got me on a
handful of those lines. I love PO weighing in.
So it was good. We'll we'll see if Dave claps
back here today, he may not care.
He might just be watching his wallet balance go up as jail
stool continues, continues to grind up.
So it's still kind of the leading attention point again
and LED LED volume on Solana yesterday.
We'll see if anything is able to displace it.
Maybe it's relax, who knows. This this Duo coin tied to
Duolingo got to like 10 million. There's not really a whole lot
else going on in these streets. The AI tokens so we can pull up
quickly. Look at the AI board.
I think it was mostly chopped or some dip from yesterday.
Let's see how far coins holding up at 52 cents ARC 280 million
down from local highs down about 10 to 15%.
AI16Z is down a little bit more. So I think the next couple of
days are going to be very interesting on these AI tokens
to see like do we really have new bottoms in or are these
still pretty shaky or not? And I don't know, I'm cautiously
optimistic that perhaps we put bottoms in on something this
house sold in sold back at 19350.
All right. So I think as long as souls up
over 190, I think these should be at least all right, where
where we get things get dicey as if soul goes back to sub one
85180. I think that's where we probably
revisit bottoms on, on some of these tokens.
That feels like a good level to consistently try and buy Solan
Air if I'm honest. 180. Yeah, around that level I
reckon. Makes sense this MLG.
Did you? Were you following some of the
the drama with Aiden Ross and and Frank degods?
Yeah, but I mean, that's been drama for a while though.
No. Well, I I thought that's he like
tweeted out like the day afterwards, like basically like
this guy dumped on me. I don't know, did he dump?
Like somebody told me that someone had sent me like
somebody had sent me like wallets but but like I have no
idea. Frank said he didn't.
I think most people he didn't, but I think it was on Aiden
Ross's stream yesterday or the day before that he was kind of
calling Frank out, saying he doesn't vibe with them and
clearly he's not happy with the price action of MLGSI think he's
not happy. With the price action, yeah, You
know what I mean? Like if the price is high
probably still he wouldn't he wouldn't care.
But I don't think I think what thread guy said was probably the
right thing. Like you don't buy if you they
shouldn't have made him buy on stream.
Like it's for this like weird event for that token.
I still like that coin a lot. Can.
I ask if you still like it. I yeah, I feel like it's it's
lost some of its luster. Well, obviously because the
price is low, but I but I I also think, yeah, the the the bait
Cabal's, you know, they they're getting a lot more flak than
than what they did. But I do think that I I look for
coins like that where it's like there's a different audience,
you know, it's a different audience.
Like UFD, for example, would be a good another good example of
that, right. This one feels like a bit more
of a, you know, like after that after the dev lost is UFD, it's
tough for him to continue to be involved and keep his audience
engaged. But this one feels like quite
seamless that that a gaming audience could stay.
It feels like it needs to go back to its like core gaming
audience and a little bit less stuff like this is the Faze
Banks Eden Ross Babe cabal coin. Yeah, yeah, yeah.
And if it does that, then I think it can probably be strong
again, we'll see. Maybe it's a bias.
It's down 75% now from from highest.
Those are typically decent buy zones if if you have been
patient in eyeing this one. There's only one other coin
doing game of meme coins, you know.
Yes. Small niche of of coins.
It's a tight. Family it's.
A tight family. I'm definitely with those guys.
I think they can do well. We will root for them.
Let's see other news. So myriad shout out to the
Marriott team here First USDC market officially goes live here
today. I think it may actually be live
so that. TT, not USDC.
Oh sorry, first time you can bet with real capital and not just
points. It's not USCC, it is the Pingu
token. This will be tied to this
Diamond Hands poker event. It looks like ours ours.
Truly baroque versus Luca, that's going to be the the the
bet here. So you're able to predict who
wins between Luca and Farrokh. Play poker.
I don't think I've ever heard him say like never heard.
Me so Farrokh's 46% Lucas 54. I feel like I might have to
apologize to our to our host here.
I feel like my money is going to be on on Luca on this one.
What do you think? I mean, Faroque is a ferocious
gambler, so my guess is he'll go all in quite early on and maybe
the Luxworth and maybe it's not. I can see that.
It can add you a little bit more context here.
Just because we're drip feeding information this week, there
should be 6 or 8 markets out by Saturday.
We're going to be slowly revealing all the players.
There are some degenerate gamblers, big degenerate
gamblers that are going to be in this, some more commonly known
faces and names that you'll know that have performed in other
poker events and poker tournaments that people have
seen before. There will be a professional
player in there that's pretty big within the scene.
There'll be a variety of bets. We'll have a lot of head to head
and PvP style stuff, KOL versus KOL, if you will.
And then we'll have some fun things like anyone, Paul for of
a kind, for example. But it's pretty, it's pretty big
for the business. It's the first time we've ever
allowed, you know, real money markets if you will.
This is the first step towards USDC.
And yeah, amazing to see all the systems firing off this morning.
Bets have been placed. Were almost up at 200 K wagered
on Penguin. You can see at the bottom left
hand corner. Yeah, nice.
But by Saturday, this will be all streamed and abstract as
well. This is in partnership with them
and so forth. By Saturdays you have 6 to 8
markets on here. You'll know all eight players
that are going to be playing in this.
Oh yeah, people just get someone that can Chuck the finger out.
When is the? When is the game?
So the market closes at 17. 100 Saturday 12:00 I believe it's on
the video and on the graphics. Nice.
OK, cool. So folks will be able to watch
this live on? They're going to.
Be able to stream it on abstract and then you'll be they'll be
streaming myriad markets as you put the put it in that banner
and header and then people just be able to go on go on betting.
Yeah, have a crack and see if you can win any money.
So folks need to be on abstracts on the Myriad site.
They need to have some Pingu in their wallet to to be able to to
wager. Correct.
All right. Well, folks, you heard it here
first. If you want to get some action
down on Myriad's inaugural market to be here for the
beginning for Oak versus Luca, choose your fighter.
You will be able to get in on that.
I'm going to bet. I'll for sure be betting on this
one here later today. I don't.
I think that's it. I think we went around the horn.
As you said, it's it's been a little bit of a quieter week.
I feel like we we started January with up to like a manic
start. Definitely slowed.
Definitely slowing down a little bit so folks start to rest up a
little bit. Good, good.
Everyone keeps talking about how tired they are.
I see it, I see that on the timeline.
Everyone's so tired. Rest gear up for the the
continuance of this golden bull run that might revive any day
now. We'll see.
My moon called bottom Mando called bottom I.
I'm going to listen to him. I think we're going to end up
higher here later today. We will talk about it on well,
no show tomorrow. I'm out, Mando is out and the
direct event is happening in Paris.
Good luck with that. That is going to be a fun one
and we will be back on Friday. I'll be back with Logan, back on
the show for the first time in a few months.
We might try to get a special guest as well.
But As for today, that is it. That's going to be our show.
I want to thank our listeners. I want to thank our partners.
We will be back on Friday at 10:00 AM Eastern.
Till then, go make it a great day.
Goodbye.