1 00:00:00,360 --> 00:00:04,640 Yo-yo, yo-yo, yo, what up, what up. 2 00:00:04,640 --> 00:00:10,560 Good morning, Good morning GMGM folks. 3 00:00:10,880 --> 00:00:15,560 It is another beautiful day to have a beautiful day. 4 00:00:15,760 --> 00:00:20,160 Welcome to episode 137 of FOMO Hour. 5 00:00:20,320 --> 00:00:26,400 Today it's Thursday, June 13th, 202444444. 6 00:00:26,400 --> 00:00:26,840 Six. All right. 7 00:00:26,840 --> 00:00:28,440 It's like throw compression. I like it. 8 00:00:28,560 --> 00:00:31,160 I like it so far. Every time for oak's not here I 9 00:00:31,200 --> 00:00:33,760 I have to do my my for oak impression. 10 00:00:34,200 --> 00:00:36,800 And he's gone now. He's officially off Twitter it 11 00:00:36,840 --> 00:00:38,880 seems. Folks, that is our call to 12 00:00:38,880 --> 00:00:42,640 action for you all listening to the show or watching Help us 13 00:00:42,640 --> 00:00:45,120 Free for Oak, Hashtag Free for Oak. 14 00:00:45,120 --> 00:00:46,960 He lost his Twitter access yesterday. 15 00:00:46,960 --> 00:00:50,080 We still don't even know why we're trying to get him back on. 16 00:00:50,080 --> 00:00:54,040 We haven't been able to pull it off yet, so help us out if you 17 00:00:54,040 --> 00:00:56,680 can. So no for Oak today. 18 00:00:56,680 --> 00:00:59,400 We still have a great show on deck. 19 00:00:59,400 --> 00:01:01,920 I'm joined here today by the great Mando. 20 00:01:01,920 --> 00:01:04,319 I think that this man has been right on just about every single 21 00:01:04,319 --> 00:01:07,120 call I've seen him make in the past month since we've been 22 00:01:07,120 --> 00:01:09,960 doing the show together. But there are rumors going 23 00:01:09,960 --> 00:01:11,920 around. There are some rumors going 24 00:01:11,920 --> 00:01:15,600 around that he flipped bearish after having Zoran on the Rex 25 00:01:15,600 --> 00:01:18,120 radio yesterday. Mando, Jim, how you doing? 26 00:01:19,400 --> 00:01:21,880 I'm doing good, man. No, those rumours are incorrect. 27 00:01:21,880 --> 00:01:24,880 But the rumours about me being right is, is also incorrect. 28 00:01:24,880 --> 00:01:29,680 I was definitely, well, I guess I was hoping for a dovish fed. 29 00:01:29,680 --> 00:01:31,120 And in the end we didn't get a dovish fed. 30 00:01:31,120 --> 00:01:34,640 So we got a, we got a hawkish fed and everything fell out of 31 00:01:34,640 --> 00:01:36,920 bed it seemed. But it's not that bad. 32 00:01:36,920 --> 00:01:39,640 I mean, we're down like 2% on Bitcoin. 33 00:01:40,400 --> 00:01:42,680 Everything's kind of close to where we were doing the show 34 00:01:42,680 --> 00:01:45,680 yesterday. But yeah, we did not, we did not 35 00:01:45,680 --> 00:01:47,880 breach that all time high. And I think we could be in for a 36 00:01:47,880 --> 00:01:51,800 bit more chop here. Yeah, it feels like prices 37 00:01:51,800 --> 00:01:56,040 aren't down much, but since men is down worse, feels like folks 38 00:01:56,040 --> 00:01:58,360 were just really hoping that we were going to get the leg up. 39 00:01:58,360 --> 00:02:00,600 Yesterday, once again, we overhyped it. 40 00:02:00,600 --> 00:02:03,360 We convinced ourselves I was counting it as a correct call 41 00:02:03,360 --> 00:02:06,000 for you because you had the caveat you you were calling for 42 00:02:06,000 --> 00:02:10,120 potential all time highs if the Fed if pal was tough, which then 43 00:02:10,120 --> 00:02:12,320 he wasn't. So that's why we didn't get 44 00:02:12,320 --> 00:02:14,600 there. I think surprising because PPI 45 00:02:14,600 --> 00:02:18,600 came in like a shocking under. It didn't matter. 46 00:02:19,240 --> 00:02:22,480 He really had the opportunity to be dovish, right? 47 00:02:22,480 --> 00:02:26,200 He had a lower CPI and then he most probably has seen the PPI 48 00:02:26,200 --> 00:02:29,160 figure. So and yeah, he came in quite 49 00:02:29,160 --> 00:02:33,760 hawkish, as did many of the other people on the on the Fed 50 00:02:34,240 --> 00:02:37,840 Governing Council. So I was surprised at that, that 51 00:02:37,840 --> 00:02:41,120 they've now publicly said they're only looking for one 52 00:02:41,120 --> 00:02:46,040 more rate rate cut in the dot plot, which I just think people 53 00:02:46,040 --> 00:02:47,680 caught off guard. Like if he'd come in there 54 00:02:47,680 --> 00:02:50,920 dovish, I think we could have we could have really gone all time 55 00:02:51,160 --> 00:02:54,320 through to all time highs stocks, you know, they they came 56 00:02:54,320 --> 00:02:58,040 off, but they still hit all time highs again yesterday and PPI is 57 00:02:58,040 --> 00:03:00,000 another good. So So what we're talking about 58 00:03:00,000 --> 00:03:03,120 is today we had the producer price inflation figure and that 59 00:03:03,120 --> 00:03:06,520 actually showed deflation, which was kind of wild. 60 00:03:06,520 --> 00:03:08,480 That's the first time I've seen that in a long time. 61 00:03:10,680 --> 00:03:14,320 Again, like who knows if these, these, these things are really 62 00:03:14,320 --> 00:03:15,960 correct. I don't really feel like people 63 00:03:15,960 --> 00:03:18,160 are feeling like they're seeing deflation in the world. 64 00:03:18,160 --> 00:03:21,240 But if that is what the the Fed is saying, then they should be 65 00:03:21,240 --> 00:03:24,520 reducing rates. And they, they weren't, weren't 66 00:03:24,520 --> 00:03:28,400 they really held off yesterday of kind of a low bar, I would 67 00:03:28,400 --> 00:03:31,560 say for being dovish, They, they didn't even come close. 68 00:03:31,560 --> 00:03:34,320 So people definitely got a little bit frustrated on that. 69 00:03:35,160 --> 00:03:36,920 I think everyone thought we needed this. 70 00:03:37,440 --> 00:03:41,360 We needed that extra thing just to like smashes through the all 71 00:03:41,360 --> 00:03:44,680 time high and then, you know, then it can really, then it 72 00:03:44,680 --> 00:03:48,080 could really go from there. But yeah, just frustrated really 73 00:03:48,080 --> 00:03:49,920 more than anything after yesterday. 74 00:03:49,920 --> 00:03:52,640 You did see huge buys. I think Bitcoin whales were 75 00:03:52,640 --> 00:03:55,960 buying like 1.2 billion worth I saw overnight. 76 00:03:55,960 --> 00:03:59,000 And you had another 100 million inflow into the ETF. 77 00:03:59,000 --> 00:04:02,320 And, you know, a lot of other things just seem positive. 78 00:04:02,320 --> 00:04:06,760 But yeah, these ranges, they can just go on for so long in 79 00:04:06,760 --> 00:04:08,240 crypto. They really can. 80 00:04:08,760 --> 00:04:14,120 So let's, let's see what the next thing could be to get us, 81 00:04:14,240 --> 00:04:18,519 get us over the hump. I it could we could be in for a 82 00:04:18,519 --> 00:04:22,520 bit of a, a dull period here. I think that's why I'm a little 83 00:04:22,520 --> 00:04:25,800 bit scared about like our having not that was our yesterday was 84 00:04:25,800 --> 00:04:28,760 our best shot for a long time, for weeks and weeks and weeks. 85 00:04:28,760 --> 00:04:32,280 In my opinion that was the best shot and I'm not bearish in any 86 00:04:32,280 --> 00:04:35,800 way, but it does make me think we could be here for a little 87 00:04:35,800 --> 00:04:40,160 bit longer in the chop. Yeah, a little concerned that 88 00:04:40,160 --> 00:04:42,200 we're just going to go sideways here forward, but I mean, 89 00:04:42,200 --> 00:04:45,400 concern's a strong word. But but that feels like the 90 00:04:45,400 --> 00:04:47,360 Reed. I thought maybe a sailor or 91 00:04:47,360 --> 00:04:51,720 friend, Big Mike was going to bail us out with another 500 92 00:04:51,720 --> 00:04:53,880 million, but it it seems like the market already shook that 93 00:04:53,880 --> 00:04:56,640 off. Yeah, 500 million just seems so 94 00:04:56,640 --> 00:04:59,080 small now compared to what the ETS are doing. 95 00:05:00,400 --> 00:05:04,200 I think the net like now we look past this figure, we've got even 96 00:05:04,200 --> 00:05:07,560 more bullish macro set up in stock taking all time highs and 97 00:05:07,560 --> 00:05:11,240 inflation dipping, albeit you've got the Fed being slightly, 98 00:05:11,320 --> 00:05:14,720 slightly hawkish. But I do think the set up there 99 00:05:14,720 --> 00:05:18,360 for macro doesn't look like it's going to throw off or throw us 100 00:05:18,360 --> 00:05:19,880 off course. So now you're looking at stuff 101 00:05:19,880 --> 00:05:22,640 within crypto that could that could cause that breach of all 102 00:05:22,640 --> 00:05:25,600 time high. You've also got the ETF coming, 103 00:05:26,240 --> 00:05:29,920 which is going to be coming ideally this month, although 104 00:05:29,920 --> 00:05:31,960 there's a little bit of nervousness around the fact that 105 00:05:31,960 --> 00:05:35,040 there's been very, very limited movement so far. 106 00:05:35,880 --> 00:05:38,120 But ideally you get that coming through. 107 00:05:38,120 --> 00:05:42,320 And then I guess the next really bullish stuff you can start to 108 00:05:42,320 --> 00:05:47,680 look at as if is if BlackRock applies for like a Solana ETF or 109 00:05:48,520 --> 00:05:51,600 you would look for some of the resolutions of the different of 110 00:05:51,600 --> 00:05:56,040 the different court cases, SEC versus Coinbase. 111 00:05:56,040 --> 00:06:00,880 Interestingly, Biden, he's now asking Coinbase to help do his 112 00:06:00,880 --> 00:06:04,360 donations, which I just thought was wild given that they are 113 00:06:04,360 --> 00:06:09,360 being prosecuted by the SEC. But on multiple on multiple 114 00:06:09,360 --> 00:06:16,320 different avenues, hopefully you see, yeah, maybe maybe it's like 115 00:06:16,320 --> 00:06:20,400 the more political movement, like maybe maybe we see Trump go 116 00:06:20,400 --> 00:06:23,760 even more all in on crypto and, and that that causes a little 117 00:06:23,760 --> 00:06:26,600 bit of a, a bounce into the election. 118 00:06:28,280 --> 00:06:30,600 I don't know, like what's the strongest narrative in crypto 119 00:06:30,600 --> 00:06:34,320 right now? It's a it's a tough one. 120 00:06:34,320 --> 00:06:36,160 I think it's just more gradual, gradual inflows. 121 00:06:36,160 --> 00:06:38,960 And that scares me a little bit because gradual inflows has not 122 00:06:38,960 --> 00:06:43,360 been able to get us above this out of this range. 123 00:06:43,400 --> 00:06:45,920 But we need that like last time we were in this range, the thing 124 00:06:45,920 --> 00:06:48,200 that got us out of it was the approval of the ETF, right. 125 00:06:48,200 --> 00:06:52,160 And then and then we just smashed through that, that 30K 126 00:06:52,160 --> 00:06:53,880 barrier and then we just kept going. 127 00:06:54,320 --> 00:06:57,960 And now gradual inflows have got us going sideways for a while. 128 00:06:57,960 --> 00:07:00,480 I'm just wondering what is that thing that smashes us through? 129 00:07:00,480 --> 00:07:02,840 I really, I really felt like yesterday it was going to be set 130 00:07:02,840 --> 00:07:05,040 up for that and then this didn't happen. 131 00:07:05,040 --> 00:07:09,280 So we could again, unbelievably bullish. 132 00:07:09,480 --> 00:07:15,400 They were going 150K200K on Bitcoin this cycle, but I, I 133 00:07:15,400 --> 00:07:17,320 think we have to be a bit more patient now I'm I'm trying to 134 00:07:17,320 --> 00:07:19,840 look for what when the next real big moves could be it's. 135 00:07:20,520 --> 00:07:23,480 Going to take time and if you align to like the 36 month 136 00:07:23,480 --> 00:07:27,320 cycle, it makes sense that we're not going to just start 137 00:07:27,320 --> 00:07:29,400 skyrocketing here right now as well. 138 00:07:29,400 --> 00:07:32,200 I don't get cycles or cycles. It's still the, you know, 139 00:07:32,320 --> 00:07:36,880 astrology for men, but there there's a little bit of credence 140 00:07:36,880 --> 00:07:38,120 to it. I I agree with you with your 141 00:07:38,120 --> 00:07:40,160 thoughts on the narratives. It does feel like the ETF 142 00:07:40,160 --> 00:07:43,440 narrative is kind of like out, not out the window, but it's 143 00:07:43,440 --> 00:07:45,640 much less exciting, especially now that the trades are all 144 00:07:45,640 --> 00:07:47,960 delta neutral. So it's kind of hard to even 145 00:07:47,960 --> 00:07:49,800 parse through it on a daily basis. 146 00:07:49,800 --> 00:07:52,080 I think to me that the political narrative is arguably the 147 00:07:52,080 --> 00:07:54,920 biggest and perhaps we'll get into that in a minute. 148 00:07:54,920 --> 00:07:59,240 I do want to, to get into the Mando report here a bit more 149 00:07:59,240 --> 00:08:00,760 formally. We, we started, we started 150 00:08:00,760 --> 00:08:04,400 getting into it a bit. There was a lot to, to cover. 151 00:08:04,400 --> 00:08:07,160 So we'll, we'll, we'll talk through the macro movement, this 152 00:08:07,160 --> 00:08:09,360 FOMC roller coaster price action. 153 00:08:09,360 --> 00:08:11,960 We'll talk a little bit about Sailor 500 million bucks. 154 00:08:11,960 --> 00:08:15,880 The Biden admin now is accepting crypto even though they've got 155 00:08:16,200 --> 00:08:19,280 active lawsuits against Coinbase and and others. 156 00:08:19,280 --> 00:08:24,440 Terraform agrees to pay $4.5 billion in the judgement to the 157 00:08:24,480 --> 00:08:30,040 SEC and then I'll hit some of my top five covering meme and NFT 158 00:08:30,040 --> 00:08:34,760 news from the day before we dive in folks. 159 00:08:34,760 --> 00:08:39,400 The show it is powered by Moon Pay to buy and sell crypto with 160 00:08:39,400 --> 00:08:44,760 PayPal, download the Moon Pay app and follow fair side network 161 00:08:44,880 --> 00:08:49,880 on X wallet coverage for drains, scams and more. 162 00:08:50,160 --> 00:08:53,080 Also a quick shout out to Moon Pay and PayPal for going live in 163 00:08:53,080 --> 00:08:58,320 the EU in the UK this week. So a nice little expansion for 164 00:08:58,320 --> 00:09:00,120 them. All right, Sims, take it. 165 00:09:00,120 --> 00:09:01,240 Let's get into the mandol report. 166 00:09:06,600 --> 00:09:09,640 Oh, that music's actually for Rogue, so we don't. 167 00:09:10,120 --> 00:09:11,840 Have. That music in his head, this 168 00:09:11,840 --> 00:09:13,600 time he wants. You to. 169 00:09:14,120 --> 00:09:17,960 Think it Sims that's what he was there you go you're in yeah I 170 00:09:18,160 --> 00:09:25,400 mean I mean I mean boys yeah look yesterday we had a had a 171 00:09:25,400 --> 00:09:30,640 softer CPI figure consumer price inflation if we were up near 70 172 00:09:30,640 --> 00:09:36,160 K on Bitcoin we were at 160 on Solana ETH. 173 00:09:37,240 --> 00:09:40,520 What was it 3600 roughly area like we we were having a good 174 00:09:40,520 --> 00:09:46,000 day and then it all just kind of fell apart when the Fed Fed 175 00:09:46,000 --> 00:09:47,760 started speaking. It was a bit volatile around 176 00:09:47,760 --> 00:09:50,240 that sort of time. Interestingly, like stocks 177 00:09:51,200 --> 00:09:54,600 didn't really care as much that the Fed was was dovish. 178 00:09:55,200 --> 00:09:57,680 Sorry, it was a slightly hawkish, but but crypto really 179 00:09:57,680 --> 00:10:01,880 did and we basically dropped back to where we were at the 180 00:10:01,880 --> 00:10:06,280 start of the day yesterday. So on my Mando minutes figures 181 00:10:06,280 --> 00:10:09,400 like Bitcoin is unchanged. Ethan Solana are down like one 182 00:10:09,400 --> 00:10:14,320 or 2% versus the day before, but that masked the volatility in 183 00:10:14,320 --> 00:10:17,600 there and and also just masked the, I don't know, the feeling 184 00:10:17,600 --> 00:10:19,720 of let down that this wasn't going to be the time that we 185 00:10:19,720 --> 00:10:24,920 finally get broke through that, that upward, upward trajectory. 186 00:10:25,960 --> 00:10:30,160 That's I think it in terms of macro, like we had, we had a 187 00:10:30,160 --> 00:10:34,080 slightly more bit like hawkish tone from the ECB today. 188 00:10:34,480 --> 00:10:36,920 But generally stocks have been, you know, they all hit all time 189 00:10:36,920 --> 00:10:38,520 highs. Like there's nothing really to 190 00:10:38,800 --> 00:10:41,160 generally worry about. Just a, a marginally more 191 00:10:41,160 --> 00:10:46,320 hawkish tone from the Fed and ECB was enough to to, to to 192 00:10:46,320 --> 00:10:50,320 knock us off course on the meme coins, the meme stock stuff. 193 00:10:50,640 --> 00:10:54,120 It feels like roaring Kitty may have cut some of his positions. 194 00:10:54,120 --> 00:10:56,880 I I saw, I saw yesterday, which I think was relatively 195 00:10:56,880 --> 00:10:59,040 interesting. So we actually haven't seen some 196 00:10:59,040 --> 00:11:01,680 of the the major memes have not really done well today. 197 00:11:01,680 --> 00:11:04,360 They've they've kind of underperformed and actually 198 00:11:04,360 --> 00:11:06,760 weirdly, some of the best performers are some of the old 199 00:11:06,760 --> 00:11:10,720 L1 coins. So ton injective actually 200 00:11:10,720 --> 00:11:13,280 anything related to tone as well that not coin is up as well. 201 00:11:13,600 --> 00:11:17,760 So you've seen maybe some of those LL ones has done slightly 202 00:11:17,760 --> 00:11:20,800 better on this move. But generally old coins have 203 00:11:21,040 --> 00:11:26,800 have and meme coins are are both not done well from from the from 204 00:11:26,840 --> 00:11:28,840 from the fallout of bed of Bitcoin there. 205 00:11:29,080 --> 00:11:32,080 Bitcoin is like I said, kind of unchanged on the day. 206 00:11:32,080 --> 00:11:35,320 I would say if you go over a 24 hour period, but that just masks 207 00:11:35,320 --> 00:11:38,280 the the volatility on the intraday. 208 00:11:39,480 --> 00:11:44,560 It talking about that like in terms of flows, the main sellers 209 00:11:44,560 --> 00:11:48,560 right now are the miners it seems as a cohort. 210 00:11:48,920 --> 00:11:52,440 And the reason for that is is mainly after the halving, 211 00:11:53,080 --> 00:11:54,920 they're all going through a little bit more trouble. 212 00:11:54,920 --> 00:11:58,240 Like it's still it's more expensive to buy to obviously 213 00:11:58,520 --> 00:12:04,600 mine Bitcoin, fewer rewards and you're seeing quite a lot of 214 00:12:04,600 --> 00:12:09,000 them either turn resources away from crypto or attempt to do 215 00:12:09,000 --> 00:12:11,560 consolidation. Now a few have been hustling it 216 00:12:11,560 --> 00:12:14,680 out in terms of consolidation, but the number one thing is that 217 00:12:14,680 --> 00:12:16,840 they are just selling a lot of their Bitcoin inventories, which 218 00:12:17,120 --> 00:12:19,600 which points perhaps less involvement from a few of them 219 00:12:19,600 --> 00:12:21,760 in the space. Obviously, some of the equipment 220 00:12:21,760 --> 00:12:25,200 can be used for for various different purposes. 221 00:12:25,360 --> 00:12:28,000 Some of them are like switching towards AI uses, for example. 222 00:12:28,720 --> 00:12:30,880 But yeah, I think that's been an interesting one. 223 00:12:31,040 --> 00:12:34,080 We probably just need to soak up some of that supply. 224 00:12:34,720 --> 00:12:37,920 But other than that, like if you're just looking at Bitcoin, 225 00:12:37,960 --> 00:12:40,400 Wales was still accumulating yesterday. 226 00:12:40,640 --> 00:12:42,560 The flow still look relatively decent. 227 00:12:42,920 --> 00:12:47,400 It's more everything else that that that looks slightly worse. 228 00:12:47,800 --> 00:12:52,800 ETH, Solana and then meme coins ton. 229 00:12:53,240 --> 00:12:55,920 The reason why ton is is up slightly higher, it looked like 230 00:12:55,920 --> 00:12:58,520 is because it's actually surpassed ETH for active 231 00:12:58,520 --> 00:13:00,760 addresses yesterday, which I thought was kind of wild. 232 00:13:01,280 --> 00:13:06,040 This this is the, the L1 which is attached to the Telegram 233 00:13:07,440 --> 00:13:10,640 ecosystem and they have, you know, hundreds of millions of 234 00:13:10,640 --> 00:13:12,520 users. So to see that you're starting 235 00:13:12,520 --> 00:13:15,040 to see adoption there pretty quickly like that, that's when 236 00:13:15,040 --> 00:13:17,280 one of the big adoption plays this cycle and it seems to be 237 00:13:17,280 --> 00:13:19,440 doing well. And then injective was higher as 238 00:13:19,440 --> 00:13:22,400 now that L1 because I think it also is being integrated with 239 00:13:22,400 --> 00:13:26,680 PayPal the their PYUST, so some big integrations there on the L1 240 00:13:26,680 --> 00:13:29,640 side. So yeah, those are the only ones 241 00:13:29,640 --> 00:13:33,080 that were kind of higher on the day, but everything else felt, 242 00:13:33,680 --> 00:13:46,720 oh God, that is my dad. It's so you covered the the the 243 00:13:46,720 --> 00:13:49,640 memes lagging. I feel like that's kind of the 244 00:13:49,640 --> 00:13:52,160 pain on on the timeline, right? It's like majors aren't down 245 00:13:52,160 --> 00:13:54,160 much like it. It feels like we're going to 246 00:13:54,160 --> 00:13:55,360 chop. So maybe some of the pain is 247 00:13:55,360 --> 00:13:58,440 just folks, you know, kind of coming to the fact that, yeah, 248 00:13:58,480 --> 00:14:01,240 we're just going to go sideways for a while and and perhaps it's 249 00:14:01,240 --> 00:14:04,320 going to be boring. But I mean, it feels like a lot 250 00:14:04,320 --> 00:14:07,160 of the the bigger memes just took a hit. 251 00:14:07,400 --> 00:14:09,800 And now I think the question is like, are are they just going to 252 00:14:10,360 --> 00:14:13,400 bleed out all summer or, or what is going to be the next 253 00:14:13,400 --> 00:14:15,840 catalyst? So I think that's part of it. 254 00:14:16,760 --> 00:14:18,720 Memes actually see a more obvious catalyst. 255 00:14:18,720 --> 00:14:21,880 I, I think we'll start to see tons more celebrity coins come 256 00:14:21,880 --> 00:14:25,720 into this space and the idea of memes going mainstream as in 257 00:14:25,720 --> 00:14:28,160 like the meme coin season going a bit more mainstream, I think 258 00:14:28,160 --> 00:14:30,200 is about is more likely to happen now. 259 00:14:30,480 --> 00:14:36,000 Like Navitate's come in and you know, like, and why not? 260 00:14:36,000 --> 00:14:39,360 He does, you know, millions of people that are aware of his 261 00:14:39,360 --> 00:14:41,400 existence. And I think that's the, you're 262 00:14:41,400 --> 00:14:44,880 going to see more and more people that will, will dabble 263 00:14:44,880 --> 00:14:47,280 with it. And I think you'll, you could 264 00:14:47,280 --> 00:14:50,840 see a, a similar sort of hype cycle that we saw with NF TS 265 00:14:51,320 --> 00:14:54,120 last cycle where that comes in. And, and I although I don't 266 00:14:54,120 --> 00:14:56,840 think that necessarily means you have a bunch of celebrity coins 267 00:14:56,840 --> 00:15:00,280 that do well, I do think that that brings people into the 268 00:15:00,280 --> 00:15:03,880 ecosystem in the same way, you know, crypto punks went higher 269 00:15:03,880 --> 00:15:07,120 during the NFT bull run. I think you'll probably see some 270 00:15:07,120 --> 00:15:08,640 of the major meme coins do well out of that. 271 00:15:08,640 --> 00:15:11,840 So I still think that like the, the, the overall theme for meme 272 00:15:11,840 --> 00:15:14,200 coins is still relatively strong because it's having this 273 00:15:14,200 --> 00:15:17,560 rebirth. But some of the other stuff, 274 00:15:18,720 --> 00:15:22,920 yeah, it's really dependent I think on on on Bitcoin going 275 00:15:22,920 --> 00:15:25,800 higher for some of these tokens like we've seen in the gaming 276 00:15:25,800 --> 00:15:28,880 coins have really just been absolutely eviscerated over the 277 00:15:28,880 --> 00:15:32,320 last over the last month or two like that's been one of the 278 00:15:32,320 --> 00:15:33,960 major use cases that's been hurt. 279 00:15:34,520 --> 00:15:39,240 AI has held up OK, but still recently not not been doing 280 00:15:39,240 --> 00:15:40,360 great. So there hasn't been many 281 00:15:40,360 --> 00:15:44,600 winners in any of those altcoin altcoin moves. 282 00:15:44,600 --> 00:15:48,240 We still, in my eyes, we the only way to kind of even see a 283 00:15:48,240 --> 00:15:50,960 bounce in some of this stuff is to see Bitcoin break out of this 284 00:15:50,960 --> 00:15:53,400 range. And if it just continues to 285 00:15:53,400 --> 00:15:56,720 chop, then those old coins have just been going lower. 286 00:15:56,720 --> 00:16:00,040 Like a lot of old coins are down 2025%. 287 00:16:00,600 --> 00:16:03,360 Interestingly, in D5, there's been a little bit of a nuclear 288 00:16:03,360 --> 00:16:08,800 explosion that's gone on today, which is the Curve founder took 289 00:16:08,800 --> 00:16:12,480 out a bunch of debt, which you may have heard of this story 12 290 00:16:12,480 --> 00:16:14,920 months ago because he kind of got saved 12 months ago, but he 291 00:16:14,920 --> 00:16:20,600 took out around $100 million of of debt against his curve 292 00:16:20,600 --> 00:16:23,240 position. So this is the founder of Curve 293 00:16:23,440 --> 00:16:26,360 got a bunch of curve tokens and then took out a bunch of loans 294 00:16:26,360 --> 00:16:28,760 against those tokens on the curve platform. 295 00:16:29,120 --> 00:16:32,360 He actually bought a mansion. He actually bought a in real 296 00:16:32,360 --> 00:16:36,920 life mansion for I believe 10s of millions of dollars to find 297 00:16:36,920 --> 00:16:39,200 out that that mansion. Can you find that Sims Curve 298 00:16:39,200 --> 00:16:42,240 founder buys mansion. It's it's. 299 00:16:42,280 --> 00:16:43,960 None of it. It's at least one mansion. 300 00:16:43,960 --> 00:16:48,040 I heard it could be multiple mansions so he's clearly 2. 301 00:16:49,360 --> 00:16:54,120 So he took out a night like like 90 to $100 million, it looks 302 00:16:54,120 --> 00:16:56,240 like. And he bought a, a mansion for 303 00:16:56,240 --> 00:17:01,160 himself and his wife. And then those, those loans they 304 00:17:01,160 --> 00:17:04,720 kind of got saved 12 months ago. There was some OTC deals to kind 305 00:17:04,720 --> 00:17:08,960 of get him out of the situation. And then seemingly that they've 306 00:17:08,960 --> 00:17:14,160 gone into liquidation today. So he's he's living the dream, 307 00:17:14,440 --> 00:17:20,520 you know, like the guys in Australia, he's up two mansions 308 00:17:20,760 --> 00:17:25,240 and his protocol and D Phi is taking some pretty bad losses, 309 00:17:25,240 --> 00:17:29,440 it feels like today. So Curve finance, you're going 310 00:17:29,440 --> 00:17:31,000 to see a lot of D Phi guys mention this. 311 00:17:31,000 --> 00:17:36,280 And this guy Michael Egorov, it's kind of infamous at this 312 00:17:36,280 --> 00:17:39,920 stage, kind of Ballers who have done this, taking down D Phi and 313 00:17:39,920 --> 00:17:43,560 Curve in the process. So this CRV token, which is kind 314 00:17:43,560 --> 00:17:46,960 of the the cornerstone of Curve is down a decent amount, but 315 00:17:46,960 --> 00:17:53,800 seeing huge volumes and yeah, just kind of points to to some 316 00:17:53,800 --> 00:17:56,200 of the issues with D5 right now. There's it's not really a love 317 00:17:56,200 --> 00:17:58,840 sector. And then to see this happen, I 318 00:17:58,840 --> 00:17:59,960 don't think people are very happy. 319 00:18:00,520 --> 00:18:03,680 I remember this headline. It does make one it's a little 320 00:18:03,680 --> 00:18:07,640 harder to buy curve when when you know the the founders taking 321 00:18:07,640 --> 00:18:10,000 this huge position out and is living in his mansions. 322 00:18:10,000 --> 00:18:13,440 But so like does he even care? So like if if he defaults on the 323 00:18:13,440 --> 00:18:16,600 loans, like what happens? He he still keeps the mansions, 324 00:18:17,000 --> 00:18:18,040 right? He's he's already spent the 325 00:18:18,040 --> 00:18:21,680 cash. Well, that's the beauty of how 326 00:18:21,680 --> 00:18:24,720 some people use D5 is, is they kind of use it as a put option. 327 00:18:24,720 --> 00:18:29,400 So like if you take a massive loan against, I don't know, but 328 00:18:29,400 --> 00:18:31,880 like let's say in the NFT space, it might be easiest. 329 00:18:31,880 --> 00:18:36,440 Let's say one of the one of the, the board ape founders took a 330 00:18:36,440 --> 00:18:40,960 massive loan against an ape coin position and they took out $100 331 00:18:40,960 --> 00:18:45,440 million and then that gets liquidated. 332 00:18:45,440 --> 00:18:49,160 It doesn't really matter the the ape would eventually would be 333 00:18:49,160 --> 00:18:54,120 sold on the market, but he's probably still walking away with 334 00:18:54,120 --> 00:18:57,600 $100 million. So yeah, it's it's a pretty nice 335 00:18:57,600 --> 00:19:00,440 situation sometimes for people to to act like that. 336 00:19:01,360 --> 00:19:04,040 I think that's actually a decent seg into this GME story. 337 00:19:04,040 --> 00:19:06,800 So I, I don't know how closely you were following this. 338 00:19:06,800 --> 00:19:11,640 So GME, it ran up to like 31 yesterday morning after the CPI 339 00:19:11,640 --> 00:19:16,960 news and then it fell like 30% back to 2425. 340 00:19:17,560 --> 00:19:20,400 And then it it's slightly green here this morning. 341 00:19:20,400 --> 00:19:22,840 I'm saying, but zero hedge yesterday afternoon, this was 342 00:19:22,840 --> 00:19:26,400 the first report that I saw. They just tweeted out single 343 00:19:26,400 --> 00:19:28,720 word goodbye. They pointed to like the large 344 00:19:28,760 --> 00:19:34,840 options volume on the the June 21st calls alluding to the fact 345 00:19:34,840 --> 00:19:39,560 that that was roaring Kitty. And then I want to say this 346 00:19:39,560 --> 00:19:43,040 morning, Bloomberg tweeted something similar. 347 00:19:43,040 --> 00:19:46,120 Like they didn't specifically call out that it was Roaring 348 00:19:46,120 --> 00:19:48,200 Kitty that sold. I don't think we know, but 349 00:19:48,200 --> 00:19:51,560 they're just pointing to the volume and the amount he has. 350 00:19:51,800 --> 00:19:54,880 So I don't know if we know the details, but I don't know. 351 00:19:54,880 --> 00:19:58,320 It's up 3% today. I feel like if it was widely 352 00:19:58,320 --> 00:20:00,480 known that it was Roaring Kitty that he had sold, wouldn't it be 353 00:20:00,480 --> 00:20:02,480 down more? I don't know. 354 00:20:03,320 --> 00:20:07,240 I I agree. I just brought it up and it does 355 00:20:07,240 --> 00:20:08,400 surprise me. I don't really know what the 356 00:20:08,400 --> 00:20:10,280 short interest is on this on this stock. 357 00:20:10,640 --> 00:20:15,080 So maybe it's because, you know, shorts are still there's still a 358 00:20:15,080 --> 00:20:17,840 very big short interest. But I would assume that if raw 359 00:20:17,840 --> 00:20:21,520 and Kissy is cashing out that this this would also similarly 360 00:20:21,520 --> 00:20:23,760 fall. But I don't know. 361 00:20:24,080 --> 00:20:25,960 I think there's a lot of like smoke and mirrors there. 362 00:20:26,920 --> 00:20:29,040 Ever since the start of this story I've never really known 363 00:20:29,200 --> 00:20:32,120 the full picture and I feel like we probably don't even know it 364 00:20:32,120 --> 00:20:35,600 now. Yeah, I don't think anyone knows 365 00:20:35,640 --> 00:20:38,440 the the full story. The other thing to find out? 366 00:20:39,040 --> 00:20:42,400 The other thing to know here is that they have raised quite a 367 00:20:42,400 --> 00:20:44,480 decent amount of money now. You know, like. 368 00:20:45,160 --> 00:20:48,360 There is a. There is a credible turn around 369 00:20:48,360 --> 00:20:53,440 story here for GME, which perhaps there never was before, 370 00:20:53,560 --> 00:20:55,760 which I think is kind of funny. Like when you have that much in 371 00:20:55,760 --> 00:21:01,080 cash, like the GME stock has a market cap of 9 billion and it 372 00:21:01,080 --> 00:21:06,080 has four billion of cash. So it's not, it's not that crazy 373 00:21:06,080 --> 00:21:08,240 anymore that it, that it trades level. 374 00:21:08,440 --> 00:21:11,080 So yeah, it's not, it's not the sort of thing that is going to, 375 00:21:11,080 --> 00:21:13,240 I mean, it's not going to drop below its, its net cash 376 00:21:13,240 --> 00:21:17,160 position. So yeah, maybe he's done enough 377 00:21:17,160 --> 00:21:20,080 and he'd just walk away. And This is why it was very, 378 00:21:20,080 --> 00:21:22,640 very clear from the start to me that the biggest winner of this 379 00:21:22,640 --> 00:21:29,840 was GME like, so yeah, maybe Roy and Kitty is happy. 380 00:21:29,840 --> 00:21:36,160 GME is happy. He loves Cohen, he's a Stan. 381 00:21:36,320 --> 00:21:38,080 He he likes the, he likes the company. 382 00:21:38,080 --> 00:21:41,400 And now they're well positioned to pursue mergers and 383 00:21:41,400 --> 00:21:44,840 acquisitions with their $4 billion cash position, which is 384 00:21:44,840 --> 00:21:47,760 also a backstop for the stocks. Like it literally can't go lower 385 00:21:47,760 --> 00:21:51,160 than like $12.00. I don't know what their debt 386 00:21:51,160 --> 00:21:53,760 position is or if they have like I need to have a look at their 387 00:21:53,760 --> 00:21:55,920 balance sheet. But yeah, I mean, if you have 4 388 00:21:55,920 --> 00:21:58,640 billion of 4 billion of cash, like this thing isn't going 389 00:21:58,640 --> 00:22:01,160 under and it's probably going to be fine. 390 00:22:01,160 --> 00:22:03,240 I I can't imagine they have more than 4 billion of debt. 391 00:22:03,240 --> 00:22:06,040 So they they probably got a net cash position. 392 00:22:06,080 --> 00:22:09,280 And who knows? Like Gme's a brand now, right? 393 00:22:09,280 --> 00:22:11,880 Like what is the GME brand worth at the end of the day? 394 00:22:12,240 --> 00:22:15,080 Like if, if it like I know how the Blockbuster brand was bought 395 00:22:15,080 --> 00:22:17,520 and all this sort of stuff, but like GME probably has a brand 396 00:22:17,520 --> 00:22:21,560 for life here. So, so I something tells me that 397 00:22:21,560 --> 00:22:24,160 this thing that if they have 4 billion and they have a good 398 00:22:24,160 --> 00:22:26,680 brand, you can do a lot with four billion and a good brand. 399 00:22:28,240 --> 00:22:30,840 Yeah, I think their brand value has gone up so much and just in 400 00:22:30,840 --> 00:22:34,040 the past few years throughout this whole saga and probably 401 00:22:34,040 --> 00:22:36,640 continue to to go up. So that is a factor in the 402 00:22:36,640 --> 00:22:40,520 calculus before we move into the other parts of the market, I 403 00:22:40,520 --> 00:22:42,360 guess. And I'm just curious. 404 00:22:42,360 --> 00:22:45,360 So on a more serious note, like what, what did Zorian have to 405 00:22:45,360 --> 00:22:46,840 say? Like I, I wasn't able to tune in 406 00:22:46,840 --> 00:22:48,400 yesterday. I I want to put myself in the 407 00:22:48,400 --> 00:22:52,240 bare mindset for a few minutes. I'm a little nervous to do it 408 00:22:52,960 --> 00:22:56,160 but I heard he has some outrageous calls like 12,000 409 00:22:56,160 --> 00:22:58,520 Bitcoin. I'm curious but that he had some 410 00:22:58,520 --> 00:23:02,680 rationale behind it. I'm curious what what his bear 411 00:23:02,680 --> 00:23:04,960 stance was based on. Yeah. 412 00:23:04,960 --> 00:23:06,720 So I think there's a few things here. 413 00:23:06,960 --> 00:23:12,320 Firstly, he's he's not a LOB like he's the 11th highest P&L 414 00:23:12,440 --> 00:23:16,880 this year on buy bit or orbit Fenix, one of the two major 415 00:23:17,040 --> 00:23:19,480 option Futures Trading platforms. 416 00:23:19,480 --> 00:23:24,400 So he this guy's is up something like $6 million this year on on 417 00:23:24,440 --> 00:23:29,240 He's been he has he's had big Bitcoin positions for a long, 418 00:23:29,240 --> 00:23:31,000 long time. So like I think he's one of 419 00:23:31,000 --> 00:23:37,440 these 2012 two 1013 relative O GS who just has all his net 420 00:23:37,440 --> 00:23:41,000 worth in in Bitcoin. But yeah, like this guy is a 421 00:23:41,000 --> 00:23:44,200 short term trader and he he has been trading for a while. 422 00:23:45,480 --> 00:23:51,120 And although like he publicly said that he didn't call the 423 00:23:51,120 --> 00:23:53,520 last few years very well, like he's lost quite a lot of money 424 00:23:53,520 --> 00:23:58,440 on on certain calls and kind of called the last cycle wrong and 425 00:23:58,440 --> 00:24:01,240 then even the rebound wrong. So this is I don't know how he's 426 00:24:01,600 --> 00:24:04,480 how well he's been doing in previous years, but this year 427 00:24:04,480 --> 00:24:07,280 seems to have to have been going relatively well for him. 428 00:24:10,160 --> 00:24:12,920 That being said, like he's not. And I wouldn't say he's also 429 00:24:12,920 --> 00:24:15,080 like one of these people that think Bitcoin is kind of 0. 430 00:24:15,080 --> 00:24:18,920 Like I think he, he basically thinks he's formed a double top 431 00:24:19,080 --> 00:24:24,920 and that he's very technical. So like by technical, I don't 432 00:24:24,920 --> 00:24:27,720 mean like flows and stuff. I think he, he's looking at like 433 00:24:27,720 --> 00:24:32,080 Fibonacci, Fibonacci retracements and and he's a 434 00:24:32,080 --> 00:24:34,920 chartist essentially. So he is looking at various 435 00:24:34,920 --> 00:24:39,120 different technical indicators and he thinks that we will Wick, 436 00:24:40,160 --> 00:24:45,160 we will Wick down into the 50s and potentially even 42 for 437 00:24:45,160 --> 00:24:48,960 Bitcoin on like a single Wick. He thinks. 438 00:24:49,520 --> 00:24:52,560 And part of this is technicals. And then if, if you try and 439 00:24:52,560 --> 00:24:55,320 press on the fundamental view, it's not really that he has a 440 00:24:55,320 --> 00:25:00,000 strong reason about why we would sell off, but more that we've 441 00:25:00,000 --> 00:25:04,880 had so much good news and, and Bitcoin hasn't moved, which I, I 442 00:25:04,880 --> 00:25:10,520 think it's kind of true. But I also think is, I think the 443 00:25:10,520 --> 00:25:12,360 real thing to look at here is the stable coin inflows. 444 00:25:12,360 --> 00:25:13,560 And they've been gradually going higher. 445 00:25:13,560 --> 00:25:15,800 I think Bitcoin inflows are a little bit difficult at the 446 00:25:15,800 --> 00:25:18,800 moment because we've, of what has been, it's obviously 447 00:25:18,800 --> 00:25:22,040 happening now, which is this basis trade, but stable coin 448 00:25:22,040 --> 00:25:23,760 inflows are just gradually going higher. 449 00:25:23,760 --> 00:25:27,120 They're not going higher at the same pace as Bitcoin, but they 450 00:25:27,120 --> 00:25:30,000 point to that the market's not going to fall out of bed. 451 00:25:31,440 --> 00:25:34,400 But then it kind of breaks down. Like I think the analysis, it's 452 00:25:34,400 --> 00:25:38,440 just like, I think the chart takes us to this level and the 453 00:25:38,440 --> 00:25:43,440 fundamentals, you know, will, will make sense in the in the 454 00:25:43,440 --> 00:25:46,800 rearview mirror. So for me for Bitcoin to be at 455 00:25:46,800 --> 00:25:50,440 that level, we'd have to see a pretty large macro sell off. 456 00:25:50,640 --> 00:25:56,280 Like for Bitcoin to 440% would have to be a pretty large macro 457 00:25:56,280 --> 00:25:59,880 sell off. So, and at the moment, I don't 458 00:25:59,880 --> 00:26:03,720 see where that's coming from. In fact, I think global 459 00:26:03,720 --> 00:26:06,680 liquidity is only going higher and I think Bitcoin inflows are 460 00:26:06,680 --> 00:26:08,080 only going to go higher of that period. 461 00:26:08,080 --> 00:26:11,000 So I don't agree with him at all. 462 00:26:11,480 --> 00:26:14,880 But at the same time, like that's that's his thesis that so 463 00:26:14,880 --> 00:26:18,720 so he's not he's not just some boogeyman. 464 00:26:19,040 --> 00:26:21,840 I guess he's basically pointing to that thing, but he's also a 465 00:26:21,840 --> 00:26:23,760 much more short term trader. That's the other thing, like 466 00:26:23,760 --> 00:26:26,600 he's, he's like, these are the levels I'll flip long like, or 467 00:26:26,800 --> 00:26:30,720 if we he also said like if we breakthrough we when we're on 468 00:26:30,720 --> 00:26:33,280 the show, like we were all saying, you know, what happens 469 00:26:33,280 --> 00:26:36,920 if we go to 72 K today, if we have a dovish fed and he's like, 470 00:26:36,920 --> 00:26:40,320 if we go have a 7072 Ki will flip long. 471 00:26:40,880 --> 00:26:43,000 He said. So like you understand that this 472 00:26:43,000 --> 00:26:49,360 is not a a capo style situation where this guy is, you know, 473 00:26:49,400 --> 00:26:50,760 just drawing new lines on the chart. 474 00:26:50,760 --> 00:26:54,760 I think he, he thinks 72 K is the invalidation for his, his, 475 00:26:55,080 --> 00:27:00,840 his thesis. And if we don't breakthrough 476 00:27:00,840 --> 00:27:04,120 that, which we didn't, that we will go a decent amount lowered 477 00:27:04,760 --> 00:27:07,000 before we can then have the momentum to breakthrough. 478 00:27:07,000 --> 00:27:08,760 It's kind of similar to what I was saying the other day, like 479 00:27:09,000 --> 00:27:10,960 we needed some downward momentum to try and get through. 480 00:27:10,960 --> 00:27:12,480 And that was our best shot for a while. 481 00:27:12,480 --> 00:27:14,640 So now we're going to have to probably see another one of 482 00:27:14,640 --> 00:27:16,960 these. Like everyone gives up hope and 483 00:27:16,960 --> 00:27:19,560 then suddenly some good news means we can hopefully rocket, 484 00:27:19,680 --> 00:27:21,080 rocket through that. So it's kind of maybe an 485 00:27:21,080 --> 00:27:22,600 extension of that to a certain extent. 486 00:27:22,960 --> 00:27:27,840 But I think his his his views are pretty aggressive. 487 00:27:28,160 --> 00:27:30,680 Like obviously with a short you can be, you can think we can go, 488 00:27:30,800 --> 00:27:35,240 we're going lower and think we're going to like 6360 K. 489 00:27:36,200 --> 00:27:38,800 But who really cares for a lot of people in that scenario. 490 00:27:38,800 --> 00:27:43,200 Like we're talking about a 10% move there or even 5% from here 491 00:27:43,520 --> 00:27:46,920 to say we're going to 42 Ki think is pretty aggressive. 492 00:27:46,920 --> 00:27:50,440 And probably that isn't just the whims of a chart. 493 00:27:50,440 --> 00:27:52,920 Like you need something pretty bad to have happened across 494 00:27:52,920 --> 00:27:56,920 global markets, in my opinion, so. 42 K would be would be 495 00:27:56,960 --> 00:28:00,680 pretty crushing, I feel like well, thanks for explaining 496 00:28:00,680 --> 00:28:02,640 that. So it's he's a chartist. 497 00:28:03,120 --> 00:28:06,840 He's reading the lines on the chart, not a personal vendetta. 498 00:28:06,880 --> 00:28:09,560 So that makes sense to me. I think the common theme and I 499 00:28:09,560 --> 00:28:15,000 hear from folks who are calling for like 52 K, 58 K is it's 500 00:28:15,000 --> 00:28:18,160 basically just based on technical analysis. 501 00:28:18,440 --> 00:28:22,080 No one has any like reasons behind that or, or logic for 502 00:28:22,080 --> 00:28:24,800 like why they think we would get there, what events would 503 00:28:24,800 --> 00:28:27,320 transpire. It's just purely based on the, 504 00:28:27,320 --> 00:28:31,080 the numbers on the chart. I think the other interesting 505 00:28:31,080 --> 00:28:34,160 story you, you briefly mentioned stablecoins is, is part of the, 506 00:28:34,160 --> 00:28:37,680 the bull case, like it's, it's not being mentioned enough, but 507 00:28:37,680 --> 00:28:40,520 it feels like it's also one of the biggest kind of macro 508 00:28:40,520 --> 00:28:42,360 storylines happening across the world. 509 00:28:42,360 --> 00:28:45,720 Is this the stable coin adoption globally? 510 00:28:45,720 --> 00:28:49,400 So I just saw the stat yesterday, Turkey now has 4% of 511 00:28:49,400 --> 00:28:53,360 their GDP in stable coins and like they're the number one 512 00:28:53,360 --> 00:28:57,280 country by far. And it feels like this is just 513 00:28:57,600 --> 00:29:00,760 is accelerating. And the more mind that flows in 514 00:29:00,760 --> 00:29:03,640 the stable coins, it feels like it's another one that's going to 515 00:29:03,960 --> 00:29:07,800 help backstop create the foundation for all this to to go 516 00:29:07,800 --> 00:29:09,680 higher. Yeah. 517 00:29:09,680 --> 00:29:12,000 I mean, there's so many countries for that where that is 518 00:29:12,000 --> 00:29:13,920 the case. I, I think that number is up 519 00:29:13,920 --> 00:29:16,240 only for a lot of different countries, a lot of Turkey, 520 00:29:16,880 --> 00:29:22,120 Turkey in particular has inflation of 75% and an interest 521 00:29:22,120 --> 00:29:25,080 rate relatively simple as well, similar as well. 522 00:29:25,080 --> 00:29:27,560 So, and that's not the only country. 523 00:29:27,560 --> 00:29:31,160 I mean, we speak about inflation in in the US, inflation has been 524 00:29:32,720 --> 00:29:35,080 are much more stubborn in other countries and also much more 525 00:29:35,080 --> 00:29:38,280 stubborn for foreign goods. You know, like if you're sitting 526 00:29:38,280 --> 00:29:42,120 there a lot of currencies, the the dollar's actually having an 527 00:29:42,120 --> 00:29:44,240 all right year. Like, and it was had had a good 528 00:29:44,240 --> 00:29:46,360 year last year as well. Like a lot of currencies are 529 00:29:46,360 --> 00:29:49,960 really down bad versus the dollar and they will probably 530 00:29:49,960 --> 00:29:52,280 never really recover versus the dollar. 531 00:29:52,280 --> 00:29:56,760 So yeah, the idea that you can instantly dollarize your savings 532 00:29:57,080 --> 00:30:02,800 if you're living in Turkey or, you know, Venezuela or, you 533 00:30:02,800 --> 00:30:06,440 know, various other failed currencies. 534 00:30:06,440 --> 00:30:09,760 Argentina obviously has been a similar sort of move towards 535 00:30:09,760 --> 00:30:11,680 that recently. Even El Salvador, right? 536 00:30:11,680 --> 00:30:15,080 Like the, you know, a lot of these, these countries, part of 537 00:30:15,080 --> 00:30:17,480 the reason about this is because they, they haven't really been 538 00:30:17,480 --> 00:30:20,840 able to fix their own currencies and their own monetary systems. 539 00:30:20,840 --> 00:30:23,040 So it's, it's probably just easier to adopt something like 540 00:30:23,040 --> 00:30:26,000 this. So I think this is definitely up 541 00:30:26,000 --> 00:30:30,560 only I I think stable coins are incredible, one of one of the 542 00:30:30,560 --> 00:30:35,640 best uses of crypto. Yeah, agree on that. 543 00:30:35,760 --> 00:30:38,280 So I think that was a good roundup of the, the macro 544 00:30:38,280 --> 00:30:40,160 picture here today, a full 30 minutes. 545 00:30:40,160 --> 00:30:43,000 I I do want to transition, get into a little bit more, perhaps 546 00:30:43,000 --> 00:30:45,040 lighter, depends on what side of the fence you're on. 547 00:30:45,200 --> 00:30:49,080 I saw a comment come through someone was asking for Mando's 548 00:30:49,080 --> 00:30:51,720 dad's thoughts on Blast Gold. So we'll have to see if we can 549 00:30:51,720 --> 00:30:55,160 get those get him to dial in here for next this next part. 550 00:30:55,160 --> 00:30:59,120 But Tyler's top five for today. We we may have seven. 551 00:30:59,120 --> 00:31:01,760 We'll see. So the ETH meme coins, excuse 552 00:31:02,240 --> 00:31:05,720 me, broadly led the market. Tate's one one second here, 553 00:31:05,720 --> 00:31:10,760 folks. Wow, apologies for that. 554 00:31:10,840 --> 00:31:12,960 All right, so ETH meme coins broadly led the market. 555 00:31:12,960 --> 00:31:17,920 Tate's daddy stays on top up to $250 million in market cap. 556 00:31:17,920 --> 00:31:20,560 Iggy Azalea at the same time, he's in front of the New York 557 00:31:20,560 --> 00:31:23,800 Stock Exchange shilling the mother token calling for 300 558 00:31:23,800 --> 00:31:25,640 million. We didn't get there yesterday. 559 00:31:25,800 --> 00:31:30,280 We talked about GMEGME did dump. Some reports circulated that it 560 00:31:30,280 --> 00:31:33,400 was roaring Kitty, not obvious if it was the GME token on 561 00:31:33,400 --> 00:31:37,880 Solana also down 15% blast. They shared their gold 562 00:31:37,880 --> 00:31:41,480 Distribution 5 detail yesterday with a few surprises at the same 563 00:31:41,480 --> 00:31:44,760 time Blast Gold has gone live for trading. 564 00:31:44,760 --> 00:31:48,680 Pre market was sitting at $4.50 here this morning. 565 00:31:48,680 --> 00:31:54,560 A bit below stats is $7.36 call for that token. 566 00:31:54,560 --> 00:31:57,880 So we will certainly see another in a teen whose pudgy Penguins 567 00:31:57,880 --> 00:32:00,280 did share their blueprint yesterday, laying out a vision 568 00:32:00,280 --> 00:32:05,000 for their broader ecosystem. And also notably has layer 0 569 00:32:05,080 --> 00:32:07,760 squarely next to ZK sync, leading to thoughts of that 570 00:32:07,880 --> 00:32:11,280 maybe layer 0 AirDrop is effectively confirmed for 571 00:32:11,280 --> 00:32:14,600 Pudgies Yuga's recent counterparty far away. 572 00:32:14,600 --> 00:32:18,200 Oh no, they announced a new digital land sale price between 573 00:32:18,200 --> 00:32:22,240 $2.00 and $20.00. The market absolutely hated it. 574 00:32:22,240 --> 00:32:25,880 Board apes fell 8% on the day. Pudgies did flip them to take 575 00:32:25,880 --> 00:32:28,320 that number two spot over on ETH. 576 00:32:28,320 --> 00:32:33,160 Over on Bitcoin, there's a new runes rocket bunk of Nakamoto, 577 00:32:33,360 --> 00:32:37,360 sort of $350 million this morning, the number two spot on 578 00:32:37,360 --> 00:32:43,000 the runes board after a $1 million investment from UTXO and 579 00:32:43,000 --> 00:32:47,320 their thesis around a new yield bearing stable coin on Bitcoin. 580 00:32:47,320 --> 00:32:51,920 So a a bit to unpack there. I want to start with Blast and 581 00:32:51,920 --> 00:32:52,960 Amanda, I'd love to get your thoughts. 582 00:32:52,960 --> 00:32:55,400 I'll give us a a quick read in here. 583 00:32:55,400 --> 00:33:00,080 But folks, the Sprint to the blast AirDrop is on and the 584 00:33:00,080 --> 00:33:03,000 price and the pace of action is absolutely picking up. 585 00:33:03,000 --> 00:33:06,520 So yesterday we got new details on the blast gold distribution. 586 00:33:06,520 --> 00:33:10,640 5 the TLDR 10 million blast gold will be sent to dabs. 587 00:33:10,640 --> 00:33:13,800 This is the 5th and final distribution pre AirDrop AirDrop 588 00:33:13,800 --> 00:33:16,320 once again confirmed for June 26th. 589 00:33:16,560 --> 00:33:20,880 Thruster, fantasy and Juice were the top three recipients. 590 00:33:20,920 --> 00:33:25,280 Captain and Co, Yolo, Hyperlock, Wasabi, and Wolfgate all getting 591 00:33:25,280 --> 00:33:29,960 500,000 gold gold as well. Blaster was considered to be a 592 00:33:29,960 --> 00:33:32,520 big winner here. They're getting 250,000 gold, a 593 00:33:32,520 --> 00:33:36,080 huge uptick for them. D1 and Crypto Valley saw their 594 00:33:36,080 --> 00:33:39,280 allocations drop the most, so they were the losers. 595 00:33:39,480 --> 00:33:41,400 The other clear winner to me, Fancy Top. 596 00:33:41,800 --> 00:33:44,320 Fancy Top got another 1,000,000 gold. 597 00:33:44,320 --> 00:33:47,280 They've now got 2,000,000 plus to give out over the next two 598 00:33:47,280 --> 00:33:48,600 weeks. Founder Travis Bickle came out 599 00:33:48,600 --> 00:33:51,400 and said we are going to get this all out in the next two 600 00:33:51,400 --> 00:33:54,160 weeks of the Fantasy Sprint is on. 601 00:33:54,160 --> 00:33:59,120 Notably 2,000,000 gold is now worth $9 million or so based on 602 00:33:59,120 --> 00:34:01,360 these pre market levels. I want to get Mando's thoughts 603 00:34:01,360 --> 00:34:05,120 on that in a bit. I think that 450 a bit 604 00:34:05,120 --> 00:34:08,040 disappointing based on early projections where we thought the 605 00:34:08,040 --> 00:34:11,080 token would come out. We will certainly see this did 606 00:34:11,080 --> 00:34:16,560 impact other tokens on blast. Several fell 10 to 20% or more 607 00:34:16,560 --> 00:34:20,520 including our the pack token. So that one was a little rough 608 00:34:20,520 --> 00:34:23,040 to see. A lot else is happening. 609 00:34:23,120 --> 00:34:26,360 So what else happening on blast? Just yesterday Wolf Game 610 00:34:26,360 --> 00:34:30,080 announced the new cash grab. It's a game with $100,000 in 611 00:34:30,080 --> 00:34:33,520 weekly prizes on top of all their gold and points and 612 00:34:33,520 --> 00:34:34,840 everything they were already doing. 613 00:34:35,040 --> 00:34:37,760 There's a new blast points multiplier announced for 614 00:34:37,760 --> 00:34:39,960 lending. Go use the lending protocols, 615 00:34:39,960 --> 00:34:42,800 get that next multiplier Yolo. They had their TGE. 616 00:34:43,040 --> 00:34:46,040 The Yolo token launched. It opened at a $15 million 617 00:34:46,040 --> 00:34:49,760 market cap, 60 million FTV and then the latest presale, no 618 00:34:49,760 --> 00:34:50,920 gold. It started trading. 619 00:34:50,920 --> 00:34:53,880 It did fall sub 100,000. Oh no it didn't. 620 00:34:53,880 --> 00:34:59,000 Did see a rally back to 650 K. So that's a quick rundown of 621 00:34:59,000 --> 00:35:01,120 what's happening in the blast ecosystem. 622 00:35:01,120 --> 00:35:03,360 I think the big question the, the most excitement on the 623 00:35:03,360 --> 00:35:06,440 timeline, which is pretty divisive is, you know, where is 624 00:35:06,440 --> 00:35:10,600 blast gold going to come out? You know, we saw stats calling 625 00:35:10,600 --> 00:35:15,440 for $7.36. It's trading at 4:50 pre market. 626 00:35:15,440 --> 00:35:16,960 Mando. Curious for your thoughts over 627 00:35:16,960 --> 00:35:19,320 under, where do you think it's going to come in at 450? 628 00:35:19,320 --> 00:35:20,480 Why is? It trading. 629 00:35:21,600 --> 00:35:27,480 It's trading on pump markets. This is a new blast only pump. 630 00:35:27,840 --> 00:35:30,840 Markets. It's yeah, OTC dot pump dot 631 00:35:30,840 --> 00:35:32,440 markets is is where I'm seeing it. 632 00:35:33,040 --> 00:35:35,240 OK, let me have a look. I want, I want to see it. 633 00:35:36,360 --> 00:35:37,760 I have to collect my wallet first. 634 00:35:37,760 --> 00:35:40,320 Hold on. Yeah, it takes a few steps. 635 00:35:42,080 --> 00:35:44,720 Oh, no. And what's the volume? 636 00:35:45,240 --> 00:35:47,680 Yeah. So at last price, $4.50 cents, 637 00:35:47,680 --> 00:35:52,040 24 hour volume 48,800 so, so not a whole lot of volume there. 638 00:35:53,000 --> 00:35:57,280 Price per point, the floor right now is looking at $4.38 to buy 639 00:35:57,280 --> 00:36:00,160 500 gold. There's just really not a whole 640 00:36:00,160 --> 00:36:03,600 lot of supply out there. There's a bid, the opening bid's 641 00:36:03,600 --> 00:36:06,840 at 347 right now. There's a bid at in size. 642 00:36:06,840 --> 00:36:10,840 The biggest bid is for 9000 gold at $2.60. 643 00:36:10,840 --> 00:36:13,840 So there's really not a whole lot of liquidity in this right 644 00:36:13,840 --> 00:36:17,920 now. Look, I mean, we, we speak about 645 00:36:17,920 --> 00:36:22,360 Blast quite a lot. I think what I think has been a 646 00:36:22,360 --> 00:36:26,520 bit of a pain over the last 24 hours is the PAC moon has has 647 00:36:26,520 --> 00:36:28,640 gone lower. I think part of that's related 648 00:36:28,640 --> 00:36:31,760 to obviously the Twitter likes thing, which I think harms their 649 00:36:31,760 --> 00:36:34,880 ability to do their this. What is it? 650 00:36:34,880 --> 00:36:39,760 V2PAC Moon validator thing can't really work in that scenario, 651 00:36:39,760 --> 00:36:41,720 right? The social validator, Yeah. 652 00:36:42,400 --> 00:36:45,720 So, and that's been painful because I think that's been, if 653 00:36:45,720 --> 00:36:50,320 you say what's been a massive success on blast pack moon, it's 654 00:36:50,320 --> 00:36:52,800 not really a mean coin. It's more like a no social 655 00:36:52,800 --> 00:36:55,560 token, let's say, or a, or a culture culture coin. 656 00:36:55,560 --> 00:36:57,320 It has, has been a successful one. 657 00:36:57,320 --> 00:37:01,520 So to see that fall, I think got people a little bit like, oh, 658 00:37:02,200 --> 00:37:06,360 you know, then this is on top of yesterday you had the Yolo games 659 00:37:06,840 --> 00:37:09,000 AirDrop. People seem pretty pissed about 660 00:37:09,000 --> 00:37:12,040 I I wasn't really following what was going on there as much, but 661 00:37:12,280 --> 00:37:17,160 I saw our friends are at, at the nifty basically complaining that 662 00:37:17,160 --> 00:37:19,320 they didn't get a good AirDrop and they spent a bunch of money. 663 00:37:19,320 --> 00:37:22,480 And then, and then you have the other things like what has been 664 00:37:22,480 --> 00:37:26,080 successful fantasy feels like, you know, it's been a fun game, 665 00:37:26,080 --> 00:37:29,680 but then people have also kind of lost money and, and then I 666 00:37:29,680 --> 00:37:31,840 know I just saw a post from B yesterday. 667 00:37:31,840 --> 00:37:37,000 I saw a post from DS who's been kind of vocally involved and I 668 00:37:37,000 --> 00:37:45,080 saw a post from Clemente and easy easy eats and without being 669 00:37:45,080 --> 00:37:47,040 involved. And then I saw a post from Moon 670 00:37:47,040 --> 00:37:49,400 Cat who seemed to be replying being like, yeah, it's pretty 671 00:37:49,400 --> 00:37:51,680 painful out there right now. That's, that's just my general 672 00:37:51,680 --> 00:37:55,480 sense is that people are, they're probably nursing a few 673 00:37:55,480 --> 00:38:00,640 losses on certain things or, or they're just like, no 674 00:38:00,680 --> 00:38:04,000 emotionally worn out from this because like they're trying to 675 00:38:04,000 --> 00:38:07,280 get involved in each Ponzi and, and it's not really holding as 676 00:38:07,280 --> 00:38:12,720 well. And now it's like where is now? 677 00:38:12,760 --> 00:38:17,200 Now we're going into TGE, which is probably not like where you 678 00:38:17,200 --> 00:38:18,600 ideally want it to be feeling right. 679 00:38:18,600 --> 00:38:21,480 You want it to be feeling like, Oh my God, like I can't wait for 680 00:38:21,480 --> 00:38:26,480 this to happen. So 4 1/2 seems, I mean, I just 681 00:38:26,480 --> 00:38:29,600 don't even know because I think you have to judge about many 682 00:38:29,600 --> 00:38:33,640 different things. My, my sense is, is that blast 683 00:38:33,640 --> 00:38:35,160 comes between 5:00 and 7:00 billion. 684 00:38:36,080 --> 00:38:41,160 That's why I think it comes and I think there would also be a 685 00:38:41,160 --> 00:38:42,720 big win. Like I'm not saying they're 686 00:38:42,720 --> 00:38:46,120 going like, Oh my God, that'd be that'd be a failure like L twos 687 00:38:46,120 --> 00:38:49,200 have not if you look at the tokens, I've really done badly. 688 00:38:49,240 --> 00:38:52,080 It's L twos. Let's see how ZK does next week. 689 00:38:52,080 --> 00:38:55,880 But like, yeah, it hasn't been a hasn't been a an incredible 690 00:38:55,880 --> 00:38:58,480 period here for L2. So to come out there, I think is 691 00:38:58,640 --> 00:39:03,000 is good like, but at the same time people I think probably 692 00:39:03,000 --> 00:39:05,520 feel a little bit exhausted with the amount of effort you have to 693 00:39:05,520 --> 00:39:08,480 put in to do some of this stuff. And then with the gold 694 00:39:08,480 --> 00:39:11,280 distributions yesterday there was also just some somewhat like 695 00:39:11,280 --> 00:39:14,960 flood thought about who got what and I think people have got a 696 00:39:14,960 --> 00:39:22,080 little bit in one about that. But yeah, I think 4 1/2, it 697 00:39:22,080 --> 00:39:26,080 could come in lower guys. The argument I guess to come in 698 00:39:26,080 --> 00:39:29,600 lower, which I I do is like $3. I think is basically where Blur 699 00:39:29,600 --> 00:39:32,520 is. I don't know if that's market 700 00:39:32,520 --> 00:39:34,200 cap or FTVI. I'd have to take a look at the 701 00:39:34,200 --> 00:39:36,400 numbers. It's hard for me to wrap my head 702 00:39:36,400 --> 00:39:43,400 around a $3 billion TV LL2 having the same or even close 703 00:39:43,600 --> 00:39:46,240 market cap or. FTV. 704 00:39:47,160 --> 00:39:50,680 So do do we have all the other things to work with that there's 705 00:39:50,680 --> 00:39:53,360 no the only variation here is this FTV. 706 00:39:54,400 --> 00:40:01,320 So just the using Sam's number, so his $7.35 gold target equates 707 00:40:01,320 --> 00:40:04,120 to a $10 billion FTV to give you a cent. 708 00:40:04,120 --> 00:40:07,600 So, so $4.50 is going to be somewhere around six. 709 00:40:08,560 --> 00:40:12,440 I haven't done the exact math. So that seems bang in the middle 710 00:40:12,440 --> 00:40:13,520 of where I think it's going to be. 711 00:40:13,520 --> 00:40:16,760 So yeah, I think 4 1/2 is probably where where it I I 712 00:40:16,760 --> 00:40:18,600 would feel like that's, that's roughly about right. 713 00:40:18,600 --> 00:40:23,120 But then it also come in at 5 and it will also come in at 7. 714 00:40:23,120 --> 00:40:24,520 I don't think it's coming in at 10. 715 00:40:25,200 --> 00:40:28,640 That just seems really high versus where everything else is 716 00:40:28,640 --> 00:40:30,840 right now. But at the same time, like it 717 00:40:30,840 --> 00:40:33,920 may briefly be there, you know, like you, you can see these sort 718 00:40:33,920 --> 00:40:38,800 of periods when the 24, the 1st 24 hours, who knows, Like it 719 00:40:38,800 --> 00:40:41,080 could be at 20 in the 1st 24 hours, like the Wicks that 720 00:40:41,080 --> 00:40:43,400 happened in the 1st 24 hours is absolutely crazy. 721 00:40:43,640 --> 00:40:46,720 I'm just telling you, I think this means this, this will 722 00:40:46,720 --> 00:40:50,520 probably settle between 5:00 to 7:00 and that will be a win in 723 00:40:50,520 --> 00:40:52,480 my opinion. I'm, I'm with you there. 724 00:40:52,480 --> 00:40:55,680 I remember the blur price action from the first few days. 725 00:40:55,680 --> 00:40:58,520 So it came out you did the, the classic dump and it shots like 726 00:40:58,520 --> 00:41:03,800 $1.20, maybe $1.40 and that was its all time high. 727 00:41:03,960 --> 00:41:08,080 So I wouldn't be surprised if we saw something similar play out 728 00:41:08,080 --> 00:41:10,240 here. The wild card, of course, is the 729 00:41:10,240 --> 00:41:13,440 incentives for, you know, holding blasts and everything 730 00:41:13,440 --> 00:41:15,320 that PAC Man's certain to roll out. 731 00:41:15,480 --> 00:41:16,760 I think you nailed the sentiment. 732 00:41:16,760 --> 00:41:20,600 It does feel like sentiment is increasingly negative right now, 733 00:41:21,160 --> 00:41:25,720 and that's not the right kind of momentum headed into a a major 734 00:41:25,720 --> 00:41:28,280 AirDrop event. So I'm curious if PAC Man's 735 00:41:28,280 --> 00:41:31,480 going to be able to to right the ship and change that momentum 736 00:41:31,480 --> 00:41:35,200 perhaps? Like, there was such good 737 00:41:35,200 --> 00:41:38,000 momentum behind PAC Moon, right? Like everyone was so happy about 738 00:41:38,000 --> 00:41:39,320 this thing. This is the one thing that 739 00:41:39,320 --> 00:41:41,400 really felt like, you know, this is it. 740 00:41:41,400 --> 00:41:44,440 And then Elon comes through and just like just screws everyone 741 00:41:45,040 --> 00:41:47,160 and just at the completely the wrong time. 742 00:41:47,160 --> 00:41:50,760 Like if Pac-Man was heading towards all time high and blast, 743 00:41:50,840 --> 00:41:54,200 then did its TGEI actually think that could add like another 2 744 00:41:54,200 --> 00:41:56,160 billion to the market cap of blast. 745 00:41:56,640 --> 00:41:59,080 But you you have this now sentiment where it's like, oh 746 00:41:59,080 --> 00:42:00,800 man, we had that, we had our winner. 747 00:42:01,320 --> 00:42:04,640 And then I don't think this is the end of Pac-Man. 748 00:42:04,640 --> 00:42:07,520 Mainly it's like we'll probably just they'll probably just rejig 749 00:42:07,520 --> 00:42:10,520 how how it's done, but it's just taken the wind out of the cells 750 00:42:10,520 --> 00:42:13,720 at just like completely the wrong time for everyone and 751 00:42:14,240 --> 00:42:16,400 people were looking for that to be the big one winner. 752 00:42:16,400 --> 00:42:19,680 So I don't. Know make a bull post in the 753 00:42:19,680 --> 00:42:23,440 whole blast ecosystem it was packed mode and bull posting's 754 00:42:23,440 --> 00:42:29,440 fun now we we can't for the near term future I do think Bobby big 755 00:42:29,440 --> 00:42:32,040 Guild is going to be able to fix this here I'll. 756 00:42:32,160 --> 00:42:34,960 Come up with something I was. A little disappointed because I 757 00:42:35,000 --> 00:42:38,680 had a a banger tweet yesterday. Didn't count, but I've been, 758 00:42:38,680 --> 00:42:41,720 I've been doing OK on the leaderboard over there. 759 00:42:43,440 --> 00:42:45,160 The the Yolo thing is interesting to me. 760 00:42:45,160 --> 00:42:46,640 A lot of people were upset about it. 761 00:42:46,720 --> 00:42:51,720 It's still a $60 million FTV for this casino game on blast. 762 00:42:51,760 --> 00:42:55,040 And I guess I just don't know where folks expectations were or 763 00:42:55,040 --> 00:42:57,840 they just thought they'd get more of an AirDrop, but that's 764 00:42:57,840 --> 00:43:00,400 not a crazy number. Like I'm seeing these these 765 00:43:00,400 --> 00:43:03,080 lending protocols again, MT5 just just launched. 766 00:43:03,080 --> 00:43:05,800 They've got a three-year history of hundreds of millions of 767 00:43:05,800 --> 00:43:09,440 dollars worth of lending and they're at like 19,000,000. 768 00:43:09,440 --> 00:43:14,560 So it's it's hard for me to to see that as a as a bad outcome. 769 00:43:14,560 --> 00:43:17,880 But again, I think the expectations mismatch. 770 00:43:18,680 --> 00:43:22,240 Yeah, I have no idea. The FTV seems to be OK, but I 771 00:43:22,240 --> 00:43:23,560 just don't know what people respect. 772 00:43:23,560 --> 00:43:26,360 But the but the market cap is 14 1/2. 773 00:43:26,360 --> 00:43:32,320 So they've given out 15% of the of the token there, which again, 774 00:43:32,320 --> 00:43:35,600 is not horrific, but at the same time I just have no idea. 775 00:43:35,960 --> 00:43:40,200 Like I, I wasn't on there but my people, people seem pissed, 776 00:43:40,200 --> 00:43:41,520 right? Like I didn't really know what 777 00:43:41,520 --> 00:43:43,280 it was, but people seemed annoyed. 778 00:43:44,440 --> 00:43:46,560 People were annoyed. There was also some fun. 779 00:43:46,560 --> 00:43:48,040 I didn't have a chance to confirm this. 780 00:43:48,480 --> 00:43:51,440 Basically, folks didn't get their tokens right away. 781 00:43:51,760 --> 00:43:56,160 There was some reports that tokens were sent to investors 782 00:43:56,160 --> 00:43:58,480 and the investors were dumping, which caused like the very 783 00:43:58,760 --> 00:44:02,520 initial nasty red Wick and then it has since rebounded. 784 00:44:02,720 --> 00:44:05,360 It's actually quite a nice trait for anyone who who caught the 785 00:44:05,360 --> 00:44:08,760 bottom. It's up a a decent amount there 786 00:44:09,480 --> 00:44:13,600 from from the local. So I don't know, we'll see. 787 00:44:13,600 --> 00:44:14,960 I'm sure we will talk about it more. 788 00:44:15,840 --> 00:44:19,280 Like that, that they, they were making like 1% on that on the 789 00:44:19,280 --> 00:44:22,280 Wheel of Fortune thing, right? So, and there was like a billion 790 00:44:22,280 --> 00:44:24,360 dollars of volume. So they, they oh, they're making 791 00:44:24,360 --> 00:44:26,840 nought .5% and they made like they must have made at least 792 00:44:26,840 --> 00:44:30,360 $5,000,000 I think. They're giving it all back that 793 00:44:30,360 --> 00:44:33,360 that's why that's why stats was has been on the tirade against 794 00:44:33,360 --> 00:44:38,400 fancy top, because it's the ethos of the blast daps is, you 795 00:44:38,400 --> 00:44:40,200 know, PAC man's giving you this gold. 796 00:44:40,200 --> 00:44:42,200 That's how you got the users. You should be sharing the 797 00:44:42,200 --> 00:44:45,160 rewards back with the users as well. 798 00:44:45,160 --> 00:44:48,880 And Fancy seems to be the first one who has taken some of the 799 00:44:48,880 --> 00:44:53,280 ETH which is which is why he went on his on his tirade. 800 00:44:53,680 --> 00:44:55,760 So they're giving back $5,000,000 or they just giving 801 00:44:55,760 --> 00:45:01,840 you back the token? I think it's giving back in 802 00:45:01,840 --> 00:45:03,760 prices, but I I'm not deep in the secret system. 803 00:45:03,760 --> 00:45:06,840 So what we we'd have to ask him. I know state clan backed this 804 00:45:06,840 --> 00:45:11,560 one as well, which perhaps was a part of the driver for the the 805 00:45:11,560 --> 00:45:13,640 concerns. I think that putting the the 806 00:45:13,640 --> 00:45:16,280 mean line name on it I think probably made folks a little bit 807 00:45:16,280 --> 00:45:19,440 more. Yeah, Yeah. 808 00:45:19,440 --> 00:45:21,440 They did that recently, right? That was in like the last week 809 00:45:21,440 --> 00:45:22,880 or so. Yeah, just a week ago. 810 00:45:23,440 --> 00:45:27,440 They think it was clearly one of the more successful things on on 811 00:45:27,440 --> 00:45:31,200 blast, but again, it was a success story up until the TGE 812 00:45:32,040 --> 00:45:35,000 and then and then suddenly everyone's like throwing shade 813 00:45:35,000 --> 00:45:37,600 in it and it's just these things are happening at the wrong time 814 00:45:37,600 --> 00:45:40,440 for blast. These like blasts. 815 00:45:40,440 --> 00:45:42,840 TGE should have been last month. Then we wouldn't. 816 00:45:42,840 --> 00:45:44,440 None of this stuff would have happened, and we'd all be. 817 00:45:45,240 --> 00:45:47,080 The momentum was so much better a month ago. 818 00:45:48,680 --> 00:45:53,640 Exactly. Like this is the issue, a few 819 00:45:53,640 --> 00:45:57,160 things have happened in the last week or so which just oh God, 820 00:45:57,160 --> 00:45:59,640 like just why didn't you do DG last month man? 821 00:46:00,160 --> 00:46:02,760 Yeah, They just couldn't pull together the delays. 822 00:46:03,200 --> 00:46:06,120 Have we seen one of these AirDrop delays work out? 823 00:46:06,560 --> 00:46:10,120 Well, I don't know that I can even think of one where someone 824 00:46:10,120 --> 00:46:11,200 could. And they didn't do this on 825 00:46:11,200 --> 00:46:15,600 purpose. But no, tough to see just 826 00:46:15,600 --> 00:46:18,520 quickly before we wrap, I think this Bonka Nakamoto thing, I'm 827 00:46:18,520 --> 00:46:19,960 just going to take us through it. 828 00:46:20,640 --> 00:46:22,800 It's interesting. I, I don't, I haven't had a 829 00:46:22,800 --> 00:46:24,880 chance to dive in. Like there's definitely a Ponzi 830 00:46:24,880 --> 00:46:28,080 element here. But like the, the headline is 831 00:46:28,080 --> 00:46:31,200 this, this yield bearing stable coin on Bitcoin. 832 00:46:31,200 --> 00:46:34,560 So Bonk Fi, the company behind Bonka Nakamoto, they've issued 833 00:46:34,560 --> 00:46:37,880 the synthetic dollar in USD. They're calling it the Nakamoto 834 00:46:37,880 --> 00:46:40,320 dollar. They've got plans to issue it 835 00:46:40,320 --> 00:46:43,000 widely across the Bitcoin ecosystem. 836 00:46:43,440 --> 00:46:47,480 The Bank of Nakamoto runes is going to be the governance token 837 00:46:47,960 --> 00:46:51,440 for this ecosystem. According to them, in phase one 838 00:46:51,440 --> 00:46:54,080 that this Nakamoto dollar is going to be backed 1 to one by 839 00:46:54,080 --> 00:46:58,360 USDE, and then in phase two that the Nakamoto dollar will be 840 00:46:58,360 --> 00:47:02,160 fully backed by a delta neutral Bitcoin position, earning a 841 00:47:02,160 --> 00:47:05,120 native yield and they're calling it the Bitcoin bond. 842 00:47:05,800 --> 00:47:08,760 So this Bitcoin bond is kind of the new idea here. 843 00:47:08,760 --> 00:47:13,440 This UTXO team liked it so much they put $1,000,000 in 844 00:47:14,000 --> 00:47:19,200 contributing to the NUSDTVL. And then we saw that the market 845 00:47:19,200 --> 00:47:22,880 just absolutely explode overnight. 846 00:47:23,040 --> 00:47:26,160 I saw it hit 350 million this morning. 847 00:47:26,160 --> 00:47:27,720 I think it's yeah, it's come down and touch, it's still up 848 00:47:27,720 --> 00:47:31,640 63% on the day that to 325,000,000. 849 00:47:31,720 --> 00:47:36,040 So I don't know, I, I don't Have we seen any talks of stablecoins 850 00:47:36,040 --> 00:47:39,920 on Bitcoin to date? I don't know that I have. 851 00:47:40,600 --> 00:47:42,640 Look, the Bitcoin Magazine team is all the team that we had. 852 00:47:42,640 --> 00:47:46,200 We actually had them on the show 18 months ago. 853 00:47:46,720 --> 00:47:49,640 They have big plans for Bitcoin. They have big plans for like L 854 00:47:49,640 --> 00:47:52,920 twos and the ZK roll ups and all this sort of stuff. 855 00:47:52,920 --> 00:47:56,720 So yeah, their plans are for, for, for, for all this sort of 856 00:47:56,720 --> 00:47:59,760 stable coin stuff. I still don't understand why. 857 00:47:59,760 --> 00:48:03,280 Like why would a stable coin with $1 million in it be worth 858 00:48:03,280 --> 00:48:06,320 325 million? You just want me like what? 859 00:48:06,320 --> 00:48:07,920 What is? Is it a mean coin or is it 860 00:48:07,960 --> 00:48:12,960 actually a stable coin? It's the the Balka Nakamoto I 861 00:48:12,960 --> 00:48:15,880 believe is is treating like a meme coin. 862 00:48:16,600 --> 00:48:18,360 OK. So it's technically the 863 00:48:18,360 --> 00:48:23,040 governance token of this larger ecosystem. 864 00:48:23,840 --> 00:48:26,840 OK, yeah, This is why I didn't. Yeah, this. 865 00:48:26,960 --> 00:48:29,760 Is not a stable coin. No one knows what it means, but 866 00:48:29,760 --> 00:48:30,720 it's provocative. Exactly. 867 00:48:31,080 --> 00:48:35,320 Well. $325 million. That's the beauty of Crypto 868 00:48:35,320 --> 00:48:36,880 Fellows replying to me this morning. 869 00:48:36,880 --> 00:48:39,000 It looks like the top wallet has like 98%. 870 00:48:39,000 --> 00:48:41,840 I didn't see that yesterday. So that's certainly is driving 871 00:48:41,840 --> 00:48:45,720 the the number up here. So it's we're going to take all 872 00:48:45,720 --> 00:48:47,120 these numbers with a grain of salt. 873 00:48:47,680 --> 00:48:52,280 That's that's a Tate special. OK, well let's see how hot right 874 00:48:52,320 --> 00:48:56,520 now, Tate. Special It's coming hot here. 875 00:48:56,600 --> 00:48:58,840 Dan Bill's Erin could be the could be the next one. 876 00:48:58,920 --> 00:49:01,720 We're hearing that one's makes its way through the 877 00:49:01,720 --> 00:49:04,040 twittersphere. I mean he's in publicly saying 878 00:49:04,040 --> 00:49:06,720 it, but I know I know there's people playing that and then 879 00:49:07,680 --> 00:49:10,320 everyone's trying to play, you know, various different tape 880 00:49:10,320 --> 00:49:11,840 tape coins. I think on pumped up fun at the 881 00:49:11,840 --> 00:49:14,360 moment. I tried playing a free for. 882 00:49:15,040 --> 00:49:18,320 Token it. It didn't work out for me, said 883 00:49:18,320 --> 00:49:20,920 the report. I'm curious. 884 00:49:20,920 --> 00:49:23,160 We talked a little bit just a couple minutes before we wrap 885 00:49:24,560 --> 00:49:28,160 the the in Polify. So we looked at some of the dim 886 00:49:28,160 --> 00:49:33,880 nominees last week on the show. So there was at that point in 887 00:49:33,880 --> 00:49:37,080 time we're talking about Obama, the Michelle Obama token so that 888 00:49:37,080 --> 00:49:38,040 the odds have updated a little bit. 889 00:49:38,040 --> 00:49:40,200 So Biden's at 85% to be the nom right now. 890 00:49:40,200 --> 00:49:42,880 Gavin Newsom's 8%, Michelle Obama 4%. 891 00:49:42,880 --> 00:49:45,720 Kamala Harris is actually up a bit at at 2%. 892 00:49:45,720 --> 00:49:49,360 I'm curious, have you looked at any more Poly fi Democratic 893 00:49:49,360 --> 00:49:52,400 nominee bets? I saw the. 894 00:49:52,400 --> 00:49:57,760 VP Bet, because I had this Tim Scott Scott thing on my on my 895 00:49:58,000 --> 00:50:02,000 meme point tracker and it looks like it looks like the and I saw 896 00:50:02,040 --> 00:50:04,240 that was down like 50%. So I was like, oh, maybe the 897 00:50:04,240 --> 00:50:07,320 VPVPS been announced. It looks like the the governor 898 00:50:07,320 --> 00:50:10,040 of North Dakota is now going to be the likely VP, right? 899 00:50:10,640 --> 00:50:12,000 Well, that's what. I haven't even seen that. 900 00:50:12,680 --> 00:50:16,040 Yeah, yeah, it looks like this. Burgum. 901 00:50:17,280 --> 00:50:23,320 So Doug Burgum, who has been the governor of North Dakota, he's a 902 00:50:23,840 --> 00:50:27,720 seemingly a billionaire businessman who moved into into 903 00:50:27,720 --> 00:50:31,040 politics. I don't really know. 904 00:50:31,080 --> 00:50:33,440 North Dakota seems like the sort of place where people in the US 905 00:50:33,440 --> 00:50:38,160 don't even know where it is. But yeah, he seems to be seems 906 00:50:38,160 --> 00:50:39,680 to be aligned with Trump on a budget and his things. 907 00:50:39,680 --> 00:50:41,240 And they're saying that he's going to be the VP. 908 00:50:41,560 --> 00:50:46,400 So I, I sure there's a Doug Burgum, this whole like Doug 909 00:50:47,520 --> 00:50:48,960 Burgum. I'm sure there's going to be a 910 00:50:49,880 --> 00:50:51,160 yeah, that's going to be the coins to. 911 00:50:52,280 --> 00:50:54,520 The coin to watch Burgum's trade. 912 00:50:54,560 --> 00:51:00,800 Burgum is trading. At 817 K on on ETH interesting 913 00:51:00,800 --> 00:51:04,520 me oh ETH. ETH has been hotter, ETH has 914 00:51:04,520 --> 00:51:08,080 been hotter, but it's it's I feel like I'm just not as used 915 00:51:08,080 --> 00:51:10,800 to trading over there. I'm trying to find out what 916 00:51:10,800 --> 00:51:12,440 would it. Be called on. 917 00:51:14,920 --> 00:51:16,400 I haven't seen a single. Mention. 918 00:51:16,440 --> 00:51:23,400 Of it Burgum. How am I going to find this? 919 00:51:24,160 --> 00:51:29,160 It's dog Bergen. Looks like the hog Bergen is 920 00:51:29,160 --> 00:51:34,560 trading at 400 K on on Solana. That feels like it could be a 921 00:51:34,560 --> 00:51:39,480 buy dog Bergen. It's got dog. 922 00:51:40,000 --> 00:51:42,040 It's got, it's got polyfy, it's got both. 923 00:51:42,400 --> 00:51:46,520 It's best of two worlds here. The chill on this is is, yeah, I 924 00:51:46,520 --> 00:51:48,360 think. This this could be the buy looks 925 00:51:48,360 --> 00:51:52,120 like so who knows if VP picks. So no one tends to know until 926 00:51:52,120 --> 00:51:54,600 the final minute and I think not even travel now. 927 00:51:54,600 --> 00:51:56,720 So yeah, that that's going to be interesting. 928 00:51:56,720 --> 00:52:02,840 But I still like I mean, the videos are just wild of this man 929 00:52:02,840 --> 00:52:06,400 at the moment. So maybe Newsom, but Newsom 930 00:52:06,400 --> 00:52:08,800 loses, right? Newsom's not going to be like. 931 00:52:09,440 --> 00:52:12,720 He loses 10 times out of 10. Yeah, like Newsom is just 932 00:52:12,720 --> 00:52:14,760 someone that. That Trump eats for breakfast, I 933 00:52:14,760 --> 00:52:19,360 feel like, I feel like Michelle Obama might have a shot. 934 00:52:19,560 --> 00:52:23,520 So I don't know. I think they may just stick with 935 00:52:23,520 --> 00:52:27,520 Biden and see, hold the dice, We'll see. 936 00:52:27,600 --> 00:52:29,200 It's all it all hinges on the debate. 937 00:52:29,280 --> 00:52:32,280 So like there is going to be some explosive press action. 938 00:52:32,640 --> 00:52:34,800 I want to say it's June 27th. So yeah, two weeks away. 939 00:52:34,960 --> 00:52:38,440 Put it on your calendar now if you're in the Poly 5 trenches. 940 00:52:39,040 --> 00:52:41,000 I still think I'm going to buy off Burgum, I feel. 941 00:52:41,000 --> 00:52:43,400 Like that's the trade here. Like this guy, I was reading a 942 00:52:43,400 --> 00:52:44,920 bit of Adam. Like I think he, I think he's 943 00:52:44,920 --> 00:52:47,520 got a good shot of being it seems like the best bet. 944 00:52:47,960 --> 00:52:53,160 Let's take a look myself. Perhaps that's the in the show 945 00:52:53,160 --> 00:52:54,040 here this. Morning before. 946 00:52:54,040 --> 00:52:59,000 We give out any more sub $1 million shooters out here alive, 947 00:53:01,880 --> 00:53:03,840 but it's been a go. I think it broke. 948 00:53:04,040 --> 00:53:07,000 We we did OK for you here. While you're gone, we're going 949 00:53:07,000 --> 00:53:10,160 to have you back, folks. We have a special guest coming 950 00:53:10,160 --> 00:53:12,880 on tomorrow. I want to say this is the first 951 00:53:12,880 --> 00:53:15,760 Real Housewife to ever come on FOMO hour. 952 00:53:15,760 --> 00:53:18,160 I don't know that for certainty, but I'm guessing it is. 953 00:53:18,640 --> 00:53:20,480 I think so, yeah. I'm strong coming. 954 00:53:20,520 --> 00:53:21,840 On. And you saying that? 955 00:53:22,440 --> 00:53:24,080 So we we're going to have our rose. 956 00:53:24,080 --> 00:53:29,280 Ready, Perhaps some tea? We're going to sip and spill 957 00:53:29,280 --> 00:53:32,040 some tea with her here on tomorrow's show and and recap 958 00:53:32,080 --> 00:53:35,160 all the the action in the markets folks. 959 00:53:35,160 --> 00:53:38,760 Till then, have a good day. Goodbye, see you soon.