1 00:00:00,560 --> 00:00:08,080 Good morning, good morning GMGF. Little bit of feedback there. 2 00:00:08,080 --> 00:00:10,760 Hopefully we get that sorted out folks. 3 00:00:11,360 --> 00:00:14,680 Welcome to another episode of Romo Hour. 4 00:00:14,680 --> 00:00:21,560 This is episode 2 today. That day is Wednesday, September 5 00:00:21,560 --> 00:00:28,000 25th, folks. It is a cooler fall morning here 6 00:00:28,040 --> 00:00:31,680 in Chicago today. We're in the 50s right now, but 7 00:00:31,720 --> 00:00:34,840 heating up, getting back into the 70s. 8 00:00:35,320 --> 00:00:38,640 Markets feel like they're heating up as well after this 9 00:00:38,640 --> 00:00:43,520 massive Chinese stimulus has come through and meme coins seem 10 00:00:43,520 --> 00:00:46,480 to be the early winters, at least so far in the crypto 11 00:00:46,480 --> 00:00:48,440 space. We are going to break it all 12 00:00:48,440 --> 00:00:52,800 down on today's show. No, for Oak, he is travelling. 13 00:00:52,800 --> 00:00:56,400 We'll have him back tomorrow. But we've got Mando. 14 00:00:56,400 --> 00:00:59,240 Mando is back with us. Mando, Jim, how you doing? 15 00:01:00,080 --> 00:01:01,840 Jim, brother, I'm doing amazing. How are you? 16 00:01:02,920 --> 00:01:06,240 Doing fantastic. It feels like we're on the the 17 00:01:06,240 --> 00:01:09,640 early stages of we're so back. At least that's that's what it 18 00:01:09,640 --> 00:01:14,400 feels like to me. So feeling very good here. 19 00:01:14,400 --> 00:01:16,480 I think that the markets are more alive. 20 00:01:16,480 --> 00:01:18,200 There's a lot more news coming through. 21 00:01:18,200 --> 00:01:20,720 So it feels like the actions pick back up. 22 00:01:20,720 --> 00:01:25,000 People are back from summer vacation, back at the desk and 23 00:01:25,000 --> 00:01:28,200 ready to work. So it's been, I'd love to see 24 00:01:28,200 --> 00:01:30,960 that folks. We've got a lot to talk about on 25 00:01:30,960 --> 00:01:33,360 today's show. So we didn't have Mando on 26 00:01:33,360 --> 00:01:34,880 yesterday. I want to get his take on the 27 00:01:34,880 --> 00:01:38,560 Chinese liquidity boom, what it might mean for the market. 28 00:01:39,040 --> 00:01:42,800 Solana dominating inflows over the past three months. 29 00:01:42,800 --> 00:01:49,000 We've got Sei and Sui leading Waltz the SEC getting grilled in 30 00:01:49,000 --> 00:01:51,800 AUS congressional hearing yesterday Caroline Ellison her 31 00:01:51,800 --> 00:01:55,360 prison sentence is in circles launched a compliance product 32 00:01:55,440 --> 00:01:59,240 memes just sending with it's 2 billion Popka hits a billion 33 00:01:59,240 --> 00:02:02,360 Mudang hit 100 million overnight. 34 00:02:02,360 --> 00:02:05,280 We'll talk about those art blocks getting into physicals 35 00:02:05,280 --> 00:02:08,720 trouble in the ape coin Dow and a lot more. 36 00:02:08,720 --> 00:02:12,240 There's a lot on the docket, excited to get into it. 37 00:02:12,240 --> 00:02:16,000 Before we do, quick shout out to our partner Galaxis. 38 00:02:16,200 --> 00:02:19,640 With seamless built in monetization tools, Galaxis 39 00:02:19,640 --> 00:02:22,200 enables the development of sustainable long term 40 00:02:22,200 --> 00:02:25,080 communities, fulfilling Bitcoin's vision of 41 00:02:25,080 --> 00:02:27,880 decentralized freedom and independence from centralized 42 00:02:27,880 --> 00:02:31,000 control. So shout out to Galaxis, love 43 00:02:31,080 --> 00:02:35,880 having them on board with us. With that, Amanda, I think 44 00:02:35,880 --> 00:02:38,000 whenever we're ready, let's get into your market report. 45 00:02:39,640 --> 00:02:45,720 OK, Well, yeah, look, I missed yesterday and that was a pretty 46 00:02:45,720 --> 00:02:47,680 big news headline, I think coming out of China. 47 00:02:47,680 --> 00:02:49,960 So I don't think people saw this coming. 48 00:02:49,960 --> 00:02:53,320 In fact, they've kind of cut rates unchanged the week before 49 00:02:53,320 --> 00:02:56,880 and then they came on with this pretty comprehensive plan. 50 00:02:57,160 --> 00:02:59,640 The, the biggest thing there was that you, they're actually going 51 00:02:59,640 --> 00:03:03,680 to fund banks that go out and buy stocks, which I thought was 52 00:03:03,960 --> 00:03:08,880 kind of a, that's a full Kiwi sort of policy that we saw kind 53 00:03:08,880 --> 00:03:11,840 of only really in 2020. Now you won't be like, well, why 54 00:03:11,840 --> 00:03:14,800 is, why are they doing that? Because you know, the US stocks 55 00:03:14,800 --> 00:03:16,520 are all time highs. Well, China stocks have not been 56 00:03:16,520 --> 00:03:19,440 at all time highs. They've been, they're at multi 57 00:03:19,440 --> 00:03:21,480 year lows, particularly in certain sectors. 58 00:03:22,280 --> 00:03:26,160 So they've had to come in and do this it it probably translates 59 00:03:26,160 --> 00:03:29,120 to a few 100 billion of liquidity coming into the 60 00:03:29,120 --> 00:03:34,120 system. Now you might say you know why 61 00:03:34,880 --> 00:03:38,440 why if there's money coming into the Chinese monetary system are 62 00:03:38,440 --> 00:03:41,440 people running around and buying Slon Amin coins up 40% on the 63 00:03:41,440 --> 00:03:43,400 day. Well, I think there has 64 00:03:43,400 --> 00:03:45,520 traditionally been quite a high correlation between global 65 00:03:45,520 --> 00:03:51,960 liquidity generally M2 and and Bitcoin and, and people got 66 00:03:51,960 --> 00:03:54,000 very, very bullish. Bitcoin didn't really move, 67 00:03:54,000 --> 00:03:55,680 though. It's kind of unchanged since 68 00:03:55,680 --> 00:03:58,600 that headline came out. Surprised me because I would 69 00:03:58,600 --> 00:04:01,000 have picked that as being one of the top things to to move on the 70 00:04:01,000 --> 00:04:03,280 back of that, though, I think it's mainly because we're 71 00:04:03,280 --> 00:04:08,680 flirting with this, this 65 area resistance, which would be kind 72 00:04:08,680 --> 00:04:10,760 of proving that we've hit a higher high. 73 00:04:10,760 --> 00:04:13,000 And I think that would get pretty people pretty bullish if 74 00:04:13,000 --> 00:04:14,640 we broke above that, if I'm honest. 75 00:04:15,360 --> 00:04:18,519 So that I think is the main thing there. 76 00:04:18,519 --> 00:04:20,839 It's just a bit of like uncertainty around that. 77 00:04:21,360 --> 00:04:23,960 So we haven't yet broken through, but I do think that 78 00:04:23,960 --> 00:04:29,000 this is, this is a good chance to see a, a change in change in 79 00:04:29,320 --> 00:04:30,760 fortunes. I would say for crypto that 80 00:04:30,760 --> 00:04:32,080 we've seen over the last six months. 81 00:04:32,080 --> 00:04:34,920 I think we've like I said, I think September was our time to 82 00:04:34,920 --> 00:04:37,560 buy and I think October is going to be very, very good at the end 83 00:04:37,560 --> 00:04:38,760 of the year. It's going to be very, very good 84 00:04:38,760 --> 00:04:42,600 for crypto. And I've been positioning, as 85 00:04:42,600 --> 00:04:46,640 I've said into that. I interesting Solana kind of 86 00:04:46,640 --> 00:04:48,960 came back. So I think a few days ago we 87 00:04:48,960 --> 00:04:51,760 were talking about or I was saying, look, pay attention. 88 00:04:51,760 --> 00:04:53,720 It's not been the number one leader. 89 00:04:54,000 --> 00:04:57,600 It did come back pretty strong over the last 24 hours and 90 00:04:57,600 --> 00:05:00,560 definitely led the majors. It's back up to 150. 91 00:05:00,560 --> 00:05:03,120 I think it was at 1:44 maybe when we're doing the show. 92 00:05:03,120 --> 00:05:07,240 So that's about 4% in a time where Bitcoin's done nothing. 93 00:05:07,240 --> 00:05:10,520 I think it has gone down about to 2%. 94 00:05:10,600 --> 00:05:15,400 So decent move there. Rebounded like the sole chart 95 00:05:15,960 --> 00:05:19,600 for sure. And then you've seen still those 96 00:05:19,600 --> 00:05:23,720 same old ones that were leading. So Suey, I think hit another 97 00:05:23,720 --> 00:05:25,360 high. So that's back up to like once 98 00:05:25,640 --> 00:05:28,800 1B72. So that's 17 billion now you saw 99 00:05:28,840 --> 00:05:32,480 say Sei have a big move, Phantom have a big move. 100 00:05:34,960 --> 00:05:37,080 Just a gem. No, sorry, not Phantom, but say 101 00:05:37,120 --> 00:05:40,760 Sayans and Sui were were big, big movers on on the week. 102 00:05:41,320 --> 00:05:46,480 It does feel as though the the altcoin season is close or a lot 103 00:05:46,480 --> 00:05:50,360 of people are talking about it. Altcoins as a sector have done 104 00:05:50,360 --> 00:05:52,000 terribly. They now seem to be breaking out 105 00:05:52,000 --> 00:05:56,400 of like a multi month downtrend, particularly versus Bitcoin. 106 00:05:56,400 --> 00:06:00,440 A lot of these sort of altcoin versus BTC charts are sitting 107 00:06:00,440 --> 00:06:05,320 there at a, at A at resistance. So we'll see, we'll see here. 108 00:06:05,600 --> 00:06:10,560 You know, Sui's up 70% since we flagged it breaking $1.00. 109 00:06:10,560 --> 00:06:11,960 And even before that we were flagging it. 110 00:06:11,960 --> 00:06:15,320 So it's, it's been a pretty aggressive movement. 111 00:06:15,320 --> 00:06:17,760 A number of these, a number of these different coins. 112 00:06:17,760 --> 00:06:19,440 I think we'll probably see a little bit of a retracement 113 00:06:19,440 --> 00:06:21,840 here. I don't really have the I don't 114 00:06:21,840 --> 00:06:25,040 really have any FOMO in a number of these, but you did see that 115 00:06:25,040 --> 00:06:28,200 rotation away from all coins into a few more memes over the 116 00:06:28,200 --> 00:06:30,880 last 24 hours at least. I think meme points were 117 00:06:30,880 --> 00:06:34,000 definitely the best performing sector over the last 24 hours. 118 00:06:34,000 --> 00:06:38,520 Popcap worked through a billion with is now above 2 billion 119 00:06:38,520 --> 00:06:42,840 again, which has been, you know, traditionally a tough spot for 120 00:06:42,840 --> 00:06:44,760 them. That was all the way down to 121 00:06:44,760 --> 00:06:47,880 like one, I think at one stage, right, like 1 meme going to 122 00:06:47,880 --> 00:06:50,200 getting destroyed and and you have a bunch of other meme coins 123 00:06:50,200 --> 00:06:54,360 doing well stories like mood and going up to 100 million, you 124 00:06:54,360 --> 00:06:56,120 know, gets people back into meme coins. 125 00:06:56,920 --> 00:07:00,520 So a lot of the mid tiers did relatively well. 126 00:07:01,200 --> 00:07:04,600 Mothers near 100 Mothers out 100 million looks like as well. 127 00:07:04,600 --> 00:07:09,080 So yeah, just decent story kind of all around there for a number 128 00:07:09,080 --> 00:07:13,080 of different meme coins. So good, good sector 129 00:07:13,080 --> 00:07:16,120 performance, good old coins. Bitcoin's the one that's kind of 130 00:07:16,120 --> 00:07:19,560 flagging if anything, like it's just it's kind of about 63 K and 131 00:07:20,000 --> 00:07:23,160 ETH was a little bit lower. There was a delay in ETH 132 00:07:23,160 --> 00:07:26,600 options, it looks like by the SEC, although the SEC did get 133 00:07:27,960 --> 00:07:30,000 absent. Well, Gensler in particular got 134 00:07:30,000 --> 00:07:32,840 absolutely destroyed yesterday by a number of different half 135 00:07:32,840 --> 00:07:36,960 Republicans. And it does feel as though his 136 00:07:36,960 --> 00:07:40,880 days are definitely numbered. They really went for his, his 137 00:07:42,600 --> 00:07:45,400 regulation by enforcement strategy, basically saying he'd 138 00:07:45,400 --> 00:07:48,800 overreach massively that he was doing things without even 139 00:07:49,280 --> 00:07:52,440 consulting regulation or the idea that something new may be 140 00:07:52,440 --> 00:07:55,320 needed. So he he's really bearing the 141 00:07:55,320 --> 00:07:57,920 brunt for this. It's not looking good against it 142 00:07:57,920 --> 00:08:00,240 for getting another. There was some hopes that he 143 00:08:00,240 --> 00:08:03,240 would, you know, maybe even get a position if Kamala got 144 00:08:04,920 --> 00:08:06,720 elected. And I think, I think that was 145 00:08:06,800 --> 00:08:09,600 really, really tough day for him there. 146 00:08:09,640 --> 00:08:12,480 So we'll we'll see what happens after that. 147 00:08:13,480 --> 00:08:15,840 Yeah, yeah. Rough day for Gary. 148 00:08:16,400 --> 00:08:18,800 Definitely a rough day for Gary. I think people were were 149 00:08:18,800 --> 00:08:23,120 notably, you know, happy that that the policy is definitely 150 00:08:23,120 --> 00:08:26,280 going to be changing now from the SEC and and it sounds like 151 00:08:26,280 --> 00:08:30,240 again, I think I saw a tweet from Mark Cuban saying Pamela 152 00:08:30,240 --> 00:08:32,799 basically throwing him under the Bush bus too. 153 00:08:32,799 --> 00:08:35,520 So it does feel as though he's he's really going to take the 154 00:08:35,520 --> 00:08:40,559 fall for this crypto policy and she may use him as a way to 155 00:08:40,559 --> 00:08:43,640 like, you know, push forward with the different, different 156 00:08:43,640 --> 00:08:47,320 set of policies, Albeit I don't think she'll be as strong for 157 00:08:47,320 --> 00:08:51,040 crypto as as Trump. And then you had the Caroline 158 00:08:51,040 --> 00:08:54,920 and Ellison got two years FBFSBF now in the same jail cell as 159 00:08:54,920 --> 00:08:56,840 Diddy. So had some headlines around 160 00:08:56,840 --> 00:09:00,480 that. But all good. 161 00:09:00,520 --> 00:09:01,800 It was all good for crypto yesterday. 162 00:09:01,800 --> 00:09:03,680 I think. I think there's a very high 163 00:09:03,680 --> 00:09:09,520 chance we're about to breakthrough that 6565 K 164 00:09:09,800 --> 00:09:11,040 barrier. Nice. 165 00:09:11,200 --> 00:09:12,800 That's good to hear. Well, I, I kind of maybe we'll 166 00:09:12,800 --> 00:09:14,400 work backwards. I want to dig into some of these 167 00:09:14,400 --> 00:09:18,280 headlines here with you on the Caroline Ellison thing, Two 168 00:09:18,280 --> 00:09:21,360 years in prison, she's on the hook for 11 billion. 169 00:09:21,360 --> 00:09:25,080 I think all of the the plaintiffs are effectively on 170 00:09:25,080 --> 00:09:27,560 the hook for that bill. I guess, were you surprised that 171 00:09:27,560 --> 00:09:30,760 she got two years on the high side? 172 00:09:30,760 --> 00:09:34,640 On the low side, Did you have any reactions to her sentence 173 00:09:34,640 --> 00:09:37,480 there? Honestly, I thought she would 174 00:09:37,480 --> 00:09:42,880 have gotten a lot more, but then she obviously threw everyone 175 00:09:42,880 --> 00:09:44,680 under the bus. So you never really know in 176 00:09:44,680 --> 00:09:46,400 those scenarios. I don't have enough, I don't 177 00:09:46,400 --> 00:09:49,840 know enough case law to know like how lenient you can get. 178 00:09:50,160 --> 00:09:53,200 But I remember seeing Polly Market recently and said that 179 00:09:53,200 --> 00:09:54,760 she wasn't going to get jail time. 180 00:09:54,760 --> 00:10:01,200 So maybe maybe it was balanced for somebody that that generally 181 00:10:01,200 --> 00:10:03,240 cooperates. I don't know. 182 00:10:03,600 --> 00:10:05,760 Yeah, I think it was higher than a lot of people were betting on 183 00:10:06,800 --> 00:10:08,000 you. You mentioned her speaking. 184 00:10:08,000 --> 00:10:11,600 There's some interesting quotes, but the the judge said, I've 185 00:10:11,600 --> 00:10:14,440 seen a lot of cooperators in 30 years, I've never seen one quite 186 00:10:14,440 --> 00:10:15,600 like Miss Ellison. So. 187 00:10:15,600 --> 00:10:21,240 So she clearly threw everyone on the under the bus as much as she 188 00:10:21,240 --> 00:10:24,520 could. Maybe coming back to the SEC, 189 00:10:24,520 --> 00:10:28,480 that was arguably one of the biggest headlines and stories 190 00:10:28,480 --> 00:10:30,400 from yesterday. I think the the quotes and the 191 00:10:30,400 --> 00:10:33,000 clips, they just, they just keep coming out. 192 00:10:33,000 --> 00:10:35,760 We talked about a little bit with, with Faroque yesterday, 193 00:10:36,480 --> 00:10:40,920 some more from the the hearing in front of the Congress 194 00:10:40,920 --> 00:10:43,520 yesterday. So Tom Emmer said we could not 195 00:10:43,520 --> 00:10:47,120 have had a more historically destructive or lawless chairman 196 00:10:47,280 --> 00:10:50,800 of the SEC talking about Gary Ginzer. 197 00:10:50,800 --> 00:10:54,920 We had Hester Pierce sitting right next to Gary and 198 00:10:54,920 --> 00:10:58,240 undermining him basically from the very start of the hearing. 199 00:10:58,240 --> 00:11:02,320 She admitted that the SEC should have admitted long ago that 200 00:11:02,320 --> 00:11:05,160 crypto tokens aren't securities. And then the clip that's 201 00:11:05,160 --> 00:11:10,840 arguably going the the most viral I think it is from is, is 202 00:11:10,840 --> 00:11:15,560 from Richie Torres basically asking Gary if Yankee tickets 203 00:11:15,560 --> 00:11:18,800 are securities. Gary says no. 204 00:11:18,800 --> 00:11:22,880 And then Torres kind of walks him through a line of questions 205 00:11:22,880 --> 00:11:27,720 saying, so why are entities like Stoner Katz securities and 206 00:11:27,880 --> 00:11:31,840 Gary's answer not great. He he basically stumbled through 207 00:11:31,840 --> 00:11:36,160 it without really having any good explanation, which I think 208 00:11:36,160 --> 00:11:40,240 kind of just points to the the the larger problem that that's 209 00:11:40,240 --> 00:11:43,560 playing out here. And now judges and congressmen 210 00:11:43,560 --> 00:11:46,800 are coming to their senses. Just there are no, there is no 211 00:11:46,800 --> 00:11:50,840 clear rule book or framework for companies to operate in. 212 00:11:51,480 --> 00:11:55,080 And the judges are effectively seeing this and kind of losing 213 00:11:55,080 --> 00:11:57,200 their minds and, and lashing out. 214 00:11:57,560 --> 00:12:00,480 And I think more of the politicians are seeing this as 215 00:12:00,480 --> 00:12:03,680 well. And I don't know, I, I'm with 216 00:12:03,680 --> 00:12:05,920 you. I, I think Gary's days are, are 217 00:12:05,920 --> 00:12:07,400 numbered. I, I wrote about it in my 218 00:12:07,400 --> 00:12:08,920 newsletter this morning. I actually think he probably 219 00:12:08,920 --> 00:12:10,960 gets fired ahead of the election. 220 00:12:10,960 --> 00:12:13,120 It seems just like it, it's low hanging fruit for Kamala. 221 00:12:13,120 --> 00:12:17,800 I think Kamala and her campaign team see the things that, that 222 00:12:17,800 --> 00:12:21,720 work for Trump, that Trump's base latches onto and, and looks 223 00:12:21,720 --> 00:12:24,240 at what they could actually, you know, potentially pull off 224 00:12:24,240 --> 00:12:27,360 themselves. And, and Ginsler, I mean, it 225 00:12:27,360 --> 00:12:29,160 seems like something that she could, she could pull off. 226 00:12:29,160 --> 00:12:33,760 It could be like an olive branch to the granch community, so I'm 227 00:12:33,760 --> 00:12:36,400 with you on that. Yeah, I feel like Enza is going 228 00:12:36,400 --> 00:12:40,640 to be the full guy for sure. It's it's been a pretty wild 229 00:12:40,640 --> 00:12:43,120 policy. Like that's that's what I would 230 00:12:43,120 --> 00:12:46,560 say. Like, I don't know, you might be 231 00:12:46,560 --> 00:12:49,240 like, oh, well, you know, the Securities Act worked so far. 232 00:12:49,240 --> 00:12:50,520 Why would it not work for crypto? 233 00:12:51,400 --> 00:12:57,480 But that's like saying you would use the same like you'd use 100 234 00:12:57,480 --> 00:13:00,240 year old media regulation on AI right now. 235 00:13:00,640 --> 00:13:05,000 Do you know what I mean? Like it's so wild that it was 236 00:13:05,000 --> 00:13:08,480 expected that a piece of regulation written 100 years ago 237 00:13:09,040 --> 00:13:14,040 would have bearing on a new technology as much bearing as as 238 00:13:14,200 --> 00:13:16,400 as Gary said it would. He was like, oh, you know, it 239 00:13:16,400 --> 00:13:20,600 fits perfectly into this. It's like, no, it clearly 240 00:13:20,600 --> 00:13:22,000 doesn't. Every single other country in 241 00:13:22,000 --> 00:13:24,720 the world is coming up with new regulations to deal with this. 242 00:13:24,960 --> 00:13:27,160 Maybe you should have just taken a minute and been like, I'm not 243 00:13:27,160 --> 00:13:31,080 going to come in here, you know, and and be so heavy-handed. 244 00:13:33,120 --> 00:13:36,240 And then the other, the other side of this is the only time he 245 00:13:36,240 --> 00:13:43,080 ever is like he's always the one to massively profit when there 246 00:13:43,080 --> 00:13:47,160 has been some fraud as well. It's like some of the some of 247 00:13:47,160 --> 00:13:50,960 the stuff that seems legitimate and isn't a security he's going 248 00:13:50,960 --> 00:13:57,240 after and yet manages to miss huge holes in stable coins and 249 00:13:57,240 --> 00:14:00,520 in exchanges, which is a far easier thing to regulate. 250 00:14:00,520 --> 00:14:02,960 I don't know how to describe it, but like trying to go after 251 00:14:02,960 --> 00:14:04,800 things that could or could not be securities. 252 00:14:05,000 --> 00:14:07,240 That's clearly going to be a legal question that could take, 253 00:14:07,840 --> 00:14:10,760 you know, a long, long time to deal with and shouldn't really 254 00:14:10,760 --> 00:14:13,120 even be the SE CS in their purview. 255 00:14:13,560 --> 00:14:16,760 Checking to see if an exchange has all the money in a bank 256 00:14:16,760 --> 00:14:18,600 account. That's not that hard. 257 00:14:19,160 --> 00:14:22,600 Like it really isn't like they do they the SEC does that sort 258 00:14:22,600 --> 00:14:24,960 of regulation for banks all the time. 259 00:14:25,400 --> 00:14:28,600 It does that regulation for and it's no, it should be doing that 260 00:14:28,600 --> 00:14:31,040 sort of regulation for banks. I don't think anyone has an 261 00:14:31,040 --> 00:14:33,960 issue with the SEC checking to see if finance has proof of 262 00:14:33,960 --> 00:14:36,400 funds or if FDX has proof of funds. 263 00:14:37,360 --> 00:14:39,440 What they do have an issue with is that they're coming, coming 264 00:14:39,440 --> 00:14:43,680 heavy-handed in and all, all stable coins, right? 265 00:14:43,680 --> 00:14:47,840 Like Luna, which was flagged so many times. 266 00:14:48,600 --> 00:14:52,360 So I think he's just, he's just a, he's just an idiot. 267 00:14:52,520 --> 00:14:54,560 And he'll be, he'll be, he'll be done. 268 00:14:55,280 --> 00:14:56,920 Yeah, hopefully the the rant tear is over. 269 00:14:56,920 --> 00:14:59,680 I mean, that's the problem. They missed all the the serious, 270 00:14:59,880 --> 00:15:03,200 seriously bad actors like FTX, like the the Luna collapse where 271 00:15:03,200 --> 00:15:05,200 they could have actually helped consumers. 272 00:15:05,200 --> 00:15:08,400 And now they're going after players like the Uniswap and and 273 00:15:08,400 --> 00:15:12,000 Coinbase, which are, you know, much, much more the the good 274 00:15:12,000 --> 00:15:15,800 guys here and and have much fewer problems. 275 00:15:16,360 --> 00:15:18,840 I did think it was interesting that Torres went after he used 276 00:15:18,840 --> 00:15:21,880 Stoner cats, because I think Stoner cats actually, you could 277 00:15:21,880 --> 00:15:23,840 make a strong case actually worse securities. 278 00:15:25,520 --> 00:15:28,560 But I think it just goes to show one, that there's there's no 279 00:15:28,560 --> 00:15:31,560 clear, you know, framework or rule book And two, the fact that 280 00:15:31,560 --> 00:15:34,080 Gary just couldn't really explain it well to just also was 281 00:15:34,080 --> 00:15:39,280 another another issue there. Well, I I want to move back here 282 00:15:39,280 --> 00:15:43,080 and talk a little bit about some of the the majors action. 283 00:15:43,080 --> 00:15:44,240 So a couple things that jumped out to me. 284 00:15:44,240 --> 00:15:48,400 One, so ETH had was this their biggest day of inflows perhaps 285 00:15:48,400 --> 00:15:50,880 since day 162 and a half million? 286 00:15:51,240 --> 00:15:54,400 It's the third biggest, but it was follow it was directly it 287 00:15:54,400 --> 00:15:57,560 was the day after the biggest outflow day in in months. 288 00:15:57,560 --> 00:15:59,880 All right. So I think what happened is 289 00:15:59,880 --> 00:16:05,440 somebody liquidated a GB TC position and then moved into a 290 00:16:06,240 --> 00:16:09,960 different a different fund provider today all. 291 00:16:10,520 --> 00:16:12,600 Right then. I'm looking over those two days, 292 00:16:13,560 --> 00:16:16,840 nothing really happened. Yeah, that's why I saw the Six 2 293 00:16:16,840 --> 00:16:18,280 1/2. I didn't look a line lower. 294 00:16:18,280 --> 00:16:23,040 So that does explain that. I'm curious. 295 00:16:23,320 --> 00:16:27,560 So are we've been talking about or you've been talking about SUI 296 00:16:27,560 --> 00:16:35,040 quite a bit say they continue to be the the top movers is, is SUI 297 00:16:35,040 --> 00:16:39,040 in the late for, for the next like the the next L1 like if you 298 00:16:39,040 --> 00:16:45,000 had to bet on one right now? The next this price point, I 299 00:16:45,000 --> 00:16:50,240 wouldn't, I mean, it's difficult because what I think with Sui 300 00:16:50,240 --> 00:16:55,680 here and I think I was saying it on maybe it was the real Vision 301 00:16:55,680 --> 00:16:57,640 podcast a few weeks ago. But I did think that like a 302 00:16:57,640 --> 00:17:03,520 Bitcoin Sui barbell approach was like maybe the best trade a few 303 00:17:03,600 --> 00:17:08,200 weeks ago. And Sui then has done a 3X, you 304 00:17:08,200 --> 00:17:12,560 know, now it's 17 billion, right? 305 00:17:12,560 --> 00:17:17,240 Like if you FTV and that the the FTV is important here because 306 00:17:17,839 --> 00:17:20,720 look at the market cap, don't do price, do market cap. 307 00:17:22,839 --> 00:17:25,079 Yeah, 4. Point on the graph, on the graph 308 00:17:25,560 --> 00:17:27,280 you can change it from price to market cap. 309 00:17:28,720 --> 00:17:33,520 So SUI is like easily at its all time high market cap right now, 310 00:17:33,880 --> 00:17:38,000 right. Do that, do that for price now 311 00:17:38,400 --> 00:17:43,160 and do right like the emissions are high on SUI just to show you 312 00:17:43,160 --> 00:17:48,600 they're like SUI is, is still what, 20% below the price that 313 00:17:48,600 --> 00:17:52,720 it was in earlier this year? But it's market gap is, is far, 314 00:17:52,720 --> 00:17:55,760 far higher because you have big unlocks for SUI and you will 315 00:17:55,760 --> 00:17:57,040 continue to have big unlocks for SUI. 316 00:17:58,160 --> 00:18:01,080 The TVL has gone above a billion and often that's what people 317 00:18:01,080 --> 00:18:05,120 look for for new chains. The vast majority of that TVL is 318 00:18:05,120 --> 00:18:08,960 SUI itself. There's barely any apps, well 319 00:18:09,240 --> 00:18:13,720 any major apps or at least on chain ecosystem coins on SUE. 320 00:18:14,440 --> 00:18:16,960 So for example, a lot of the TV on ETH, for example, is the 321 00:18:17,000 --> 00:18:22,680 ecosystem coins of ETH, right. You, you don't there is barely 322 00:18:22,680 --> 00:18:25,480 anything there with SUE. You have you have a certain D5 323 00:18:25,480 --> 00:18:27,880 coins which are being built up and they've got USDC now on the 324 00:18:27,880 --> 00:18:33,080 chain. But I think SUE here is it's 325 00:18:33,080 --> 00:18:36,480 kind of well, it's it's priced to perfection. 326 00:18:36,480 --> 00:18:40,560 I would not be buying Sui here. It was a good buy. 327 00:18:41,040 --> 00:18:43,960 I had no idea it was going to do a 3X. 328 00:18:44,040 --> 00:18:47,480 But now I think it's it's going to have to consolidate a little 329 00:18:47,480 --> 00:18:48,960 bit because not enough is going on there. 330 00:18:49,480 --> 00:18:52,000 You know, like you then you've got to challenge ton, which is a 331 00:18:52,000 --> 00:19:01,040 25 ish and ton on ton. So for that trade, you're really 332 00:19:01,040 --> 00:19:03,800 it's a media tech trade, right? Your your trade there is that 333 00:19:03,800 --> 00:19:06,240 SUE is better tech. It's better for AI. 334 00:19:06,240 --> 00:19:10,120 It's better for some of the we've been talking about like 335 00:19:10,120 --> 00:19:14,600 fiber scaling that, that that soul was talking about last 336 00:19:14,600 --> 00:19:16,800 week. So he's so he's got its own 337 00:19:16,800 --> 00:19:19,040 projects around that too. And it has some dreams of being 338 00:19:19,040 --> 00:19:21,400 $1,000,000. Sorry, a million TPS as well. 339 00:19:22,280 --> 00:19:27,720 I think it's, it's too high now from all like I wouldn't be 340 00:19:27,720 --> 00:19:30,600 buying it other than like, I think it can pump like 10% 341 00:19:30,800 --> 00:19:32,360 rather than it can, it can really rally. 342 00:19:33,120 --> 00:19:36,880 I think some of the other coins are are starting to run a little 343 00:19:36,880 --> 00:19:41,000 bit more now and like maybe at the start of that sort of run. 344 00:19:41,040 --> 00:19:45,360 So we so we and Tao are the two that really went sideways. 345 00:19:45,440 --> 00:19:49,280 Sorry, went vertical here. I think there's a few others 346 00:19:49,280 --> 00:19:51,000 here that you could, you could look down. 347 00:19:53,080 --> 00:19:57,520 I I would agree, like people have said near I still think 348 00:19:57,520 --> 00:20:04,360 this Tau one could could could run like I just there's enough 349 00:20:05,400 --> 00:20:08,840 there's enough going on there and then there's enough hopium 350 00:20:08,880 --> 00:20:12,920 about what it could be that I think that could easily do it to 351 00:20:12,920 --> 00:20:16,000 access. I think you go to 20 because 352 00:20:16,000 --> 00:20:18,920 it's not your average L1 like I told you. 353 00:20:18,920 --> 00:20:22,960 It's like it's trying to be an AIL 1 and. 354 00:20:23,440 --> 00:20:25,800 It's not necessarily about transaction volume, it's more 355 00:20:25,800 --> 00:20:30,280 about will this be able to be the right tech for AI in the 356 00:20:30,280 --> 00:20:36,600 future and the hope of AI valuations can take you to this 357 00:20:36,600 --> 00:20:41,040 crazy valuation. So yeah, like I, I just kind of 358 00:20:41,040 --> 00:20:44,280 get the feeling if I was to bet out of those two right now, I'd 359 00:20:44,280 --> 00:20:47,320 put my money into tower just because I think it's and I have, 360 00:20:47,320 --> 00:20:49,520 I've got no money in it. I'm just telling you those two 361 00:20:49,520 --> 00:20:54,240 runners, but I do think these Phantom say are probably the two 362 00:20:54,240 --> 00:20:56,920 after that, which seems to have caught a little bit of a bid. 363 00:20:57,160 --> 00:21:02,120 They both have had like quote UN quote tech upgrades coming, 364 00:21:02,480 --> 00:21:05,240 Phantoms going to Sonic. There's a few people like 365 00:21:05,880 --> 00:21:11,000 getting behind that one and then say had its V2 and it's time to 366 00:21:11,000 --> 00:21:12,800 gain quite a lot of TDL on the back of that. 367 00:21:12,800 --> 00:21:17,040 So you could argue that those two, those two are the ones that 368 00:21:17,040 --> 00:21:18,520 could run. And then you have some of this 369 00:21:18,520 --> 00:21:20,760 defy stuff as well, like ruins had a really good week. 370 00:21:21,280 --> 00:21:24,920 You've had Ave. which is is looking really good. 371 00:21:24,920 --> 00:21:27,760 A lot of people said, you know, Defy was the trade. 372 00:21:28,880 --> 00:21:31,840 I think people will look at a lot of different alt coins here 373 00:21:32,080 --> 00:21:34,680 for for what could be what could be the runners. 374 00:21:35,120 --> 00:21:38,880 It it feels like all season is here and we've already seen the 375 00:21:38,880 --> 00:21:41,200 the big move off the bottom. Another coin I want to shout 376 00:21:41,200 --> 00:21:43,520 out, JLP. Back to all time high. 377 00:21:43,560 --> 00:21:50,640 That's basically back to all time high and it it's benefiting 378 00:21:50,640 --> 00:21:54,040 from the Solana catching action and it's also benefiting from 379 00:21:54,040 --> 00:21:56,480 the trenches coming back alive a little. 380 00:21:56,480 --> 00:21:59,200 Bit yeah, I haven't looked at the JRPAPY because obviously I 381 00:21:59,200 --> 00:22:02,040 went like full Bitcoin, which has been a good trade, but I'm 382 00:22:02,040 --> 00:22:05,040 always paying attention to it because I actually feel it's 383 00:22:05,040 --> 00:22:10,360 like my defensive trade. If things don't like as we go 384 00:22:10,360 --> 00:22:13,840 towards all time highs, I'll probably move back into JLPA 385 00:22:13,840 --> 00:22:16,520 little bit, but it's I think the the yield has been down quite 386 00:22:16,520 --> 00:22:18,960 substantially. Oh no, 30% APY. 387 00:22:18,960 --> 00:22:20,720 That's that's decent. That's decent. 388 00:22:21,960 --> 00:22:27,200 Yeah, looks real good. Perhaps it's a transition to I 389 00:22:27,200 --> 00:22:31,360 want to talk memes here a little bit and I feel like the Solana 390 00:22:31,360 --> 00:22:33,920 memecoin ecosystem, you're touching this a little bit, but 391 00:22:33,920 --> 00:22:35,560 it's starting to show some signs alive. 392 00:22:35,560 --> 00:22:39,720 So we've got with back above 2 billion that's I think that's a 393 00:22:39,720 --> 00:22:42,920 pretty big psychological threshold for the the leading 394 00:22:42,920 --> 00:22:45,920 meme on Solana. You've got popcat now back over. 395 00:22:45,920 --> 00:22:48,480 Oh, it hit over a billion. It's back at 980 million, but 396 00:22:48,480 --> 00:22:53,160 basically at a billion right now you have a new runner in in 397 00:22:53,160 --> 00:22:56,520 mood. Dang, which hit hit it passed 398 00:22:56,520 --> 00:22:58,840 100 million overnight. It's back down at 87. 399 00:22:58,840 --> 00:23:01,720 You've got mother basically back at 100 million getting touted by 400 00:23:01,720 --> 00:23:04,640 Arthur Hayes and Ansom. We'll come back to that duo 401 00:23:04,640 --> 00:23:07,480 touting coins in a little bit. It needs to get more move back 402 00:23:07,480 --> 00:23:11,480 over 100 Gigas at 200. Then all the IT feels like all 403 00:23:11,480 --> 00:23:14,400 the one like the the the classics that the meme coins 404 00:23:14,400 --> 00:23:16,680 that everyone's been kind of touting on the timeline it's 405 00:23:16,680 --> 00:23:20,680 been on, like the Murad list. It feels like it's a lot of 406 00:23:20,680 --> 00:23:24,640 those that are coming back and they're all up 2040% here off 407 00:23:24,640 --> 00:23:25,720 the bottom. I'm granted a lot of them are 408 00:23:25,720 --> 00:23:30,600 down, but I'm curious, are are you are you looking at any meme 409 00:23:30,600 --> 00:23:32,080 coins? Are are you considering getting 410 00:23:32,080 --> 00:23:34,880 back into the the meme trenches here yet? 411 00:23:35,320 --> 00:23:38,600 Fair enough. I looked a little bit Pepe 412 00:23:38,600 --> 00:23:43,080 again, just because I I am a slightly more constructive on 413 00:23:43,080 --> 00:23:45,920 ether and I did think that that that's one that could. 414 00:23:48,040 --> 00:23:50,800 I don't think anything has fundamentally changed about 415 00:23:50,800 --> 00:23:52,920 supply and demand in the meme coin space. 416 00:23:53,000 --> 00:23:55,240 Like we still have a huge amount of supply. 417 00:23:56,080 --> 00:23:59,760 And I think if you're going to be a meme coin trader, you have 418 00:23:59,760 --> 00:24:04,120 to have incredible timing as well as we've seen, you know, 419 00:24:04,120 --> 00:24:08,720 like things just go like, and then they also go to 0 like 420 00:24:08,720 --> 00:24:11,240 very, very quickly. And you can get, you know, you 421 00:24:11,240 --> 00:24:13,400 can tie yourself to the wrong value, stay in a trade too long 422 00:24:13,400 --> 00:24:17,960 and it's all gone. So I, I've been looking a little 423 00:24:17,960 --> 00:24:20,520 bit more at the E meme coins, I would say, rather than the 424 00:24:20,520 --> 00:24:24,480 Solana ones, but it does feel as though Solana season is, is 425 00:24:24,480 --> 00:24:27,240 back. Epic had a, a good day the last 426 00:24:27,360 --> 00:24:30,720 last few days. It does feel as though if you 427 00:24:30,720 --> 00:24:34,280 take a step back, that trade is basically a whiff trade with is 428 00:24:34,280 --> 00:24:39,000 still a huge percentage of the market cap of Solana meme coins 429 00:24:39,000 --> 00:24:42,520 with and pop cat now let's say. So if those two are doing well, 430 00:24:44,080 --> 00:24:46,720 I think all the others tend to do well. 431 00:24:47,120 --> 00:24:50,600 I don't know if that much new money has come into Solana meme 432 00:24:50,600 --> 00:24:59,200 coins for the last 3-4 months so but when the top ones rally then 433 00:24:59,240 --> 00:25:01,720 then it's a it's a really good sign. 434 00:25:02,520 --> 00:25:04,200 I saw a take on the timeline yesterday. 435 00:25:04,200 --> 00:25:06,560 I I'm forgetting who it was from, but they basically said if 436 00:25:06,560 --> 00:25:10,240 there aren't new market participants coming in right now 437 00:25:10,240 --> 00:25:13,080 to the meme streets, that it's going to be the old memes, the 438 00:25:13,080 --> 00:25:16,320 old memes that pump. I think that that kind of makes 439 00:25:16,320 --> 00:25:18,120 sense to me. It's this. 440 00:25:18,280 --> 00:25:21,240 It's the ones that the existing players know they're going to 441 00:25:21,240 --> 00:25:25,800 rotate profits perhaps from new ones, just from majors going up 442 00:25:25,880 --> 00:25:28,000 in into the the more trusted tokens. 443 00:25:28,040 --> 00:25:31,240 I think that is is a little bit what we're seeing here. 444 00:25:31,680 --> 00:25:33,200 I had to pull up this Anson tweet. 445 00:25:33,640 --> 00:25:36,600 One of the, the crazier things I, I saw on the timeline 446 00:25:36,600 --> 00:25:38,880 yesterday, I'm not sure if you saw this, but he put up his top 447 00:25:38,880 --> 00:25:43,480 10 meme coins convictions list and his his market cap targets 448 00:25:43,720 --> 00:25:47,120 are, are something. So he has with at $100 billion 449 00:25:47,120 --> 00:25:51,800 target, MOG at a $50 billion target, MU and Giga also going 450 00:25:51,800 --> 00:25:54,240 to 50 billion. He's got Mitchy Mitchy going to 451 00:25:54,240 --> 00:26:00,640 10 billion, Mother going to five and SCF going to 5 billion as as 452 00:26:00,640 --> 00:26:04,800 well. So, so quite something here. 453 00:26:05,200 --> 00:26:08,200 And I mean, it got me thinking like, hey, they're absurd 454 00:26:08,200 --> 00:26:10,680 targets. But then my mind started going 455 00:26:10,680 --> 00:26:14,680 like, what if there's a chance that we go to even 10% of these? 456 00:26:14,880 --> 00:26:17,760 If you go to 10% of these targets, then you need to have 457 00:26:17,760 --> 00:26:19,920 something allocated to, to this sector. 458 00:26:19,920 --> 00:26:22,560 But I don't know, I'm curious, any reactions to this on your 459 00:26:22,560 --> 00:26:24,240 side? Do you, do you keep a list? 460 00:26:24,240 --> 00:26:28,760 Like do you and the and and OSF? Like do you keep a a a general 461 00:26:28,760 --> 00:26:31,200 list of what your your conviction list is? 462 00:26:32,040 --> 00:26:34,120 Yeah, we do. We do something similar. 463 00:26:34,520 --> 00:26:41,080 But what I would say is we have been less constructive on mean 464 00:26:41,080 --> 00:26:45,400 points kind of since May, I would say. 465 00:26:46,080 --> 00:26:49,360 And we we moved mainly into majors, right, which has been a 466 00:26:49,360 --> 00:26:52,320 good trade. So we haven't regressively put 467 00:26:52,320 --> 00:26:54,960 back into meme coins during this period. 468 00:26:56,240 --> 00:26:59,520 I still think you have to consider like where the marginal 469 00:26:59,520 --> 00:27:01,400 dollar, if the marginal dollar is going to go into meme coins 470 00:27:01,400 --> 00:27:03,480 or not, just because of what happened over the last few 471 00:27:03,480 --> 00:27:06,680 months. I'm a, I'm a buyer of long term 472 00:27:06,800 --> 00:27:09,000 meme coin value. So I have no idea what this 473 00:27:09,560 --> 00:27:13,160 these long term targets are, but I do think Internet culture 474 00:27:13,600 --> 00:27:16,720 going on chain is actually just like one of the most obvious, 475 00:27:16,760 --> 00:27:18,360 obvious, obvious things about crypto. 476 00:27:18,840 --> 00:27:22,040 So obvious. We saw it with sort of NFTS. 477 00:27:22,080 --> 00:27:24,640 Now meme coins, there's always experimentation around it with 478 00:27:24,640 --> 00:27:27,280 different chains, different protocols, but it's always about 479 00:27:27,280 --> 00:27:31,880 like putting a meme on chain. Bitcoin itself arguably is even 480 00:27:31,880 --> 00:27:35,040 there. So I think I am. 481 00:27:35,040 --> 00:27:40,080 I'm a buyer of meme coin dominance over a multi a multi 482 00:27:40,920 --> 00:27:43,480 year cycle. I'm just not sure if like now 483 00:27:43,480 --> 00:27:48,440 until year end is when that trade comes back aggressively, 484 00:27:48,600 --> 00:27:54,040 let's put it that way. And I also think that you could 485 00:27:54,040 --> 00:27:58,280 look back, you could look back at this in like 3 years and be 486 00:27:58,280 --> 00:28:01,120 like, only one of these is still relevant. 487 00:28:02,920 --> 00:28:04,200 Do you know what I mean? I think there's always this 488 00:28:04,200 --> 00:28:11,280 expectation that like you are there at the time of original 489 00:28:11,280 --> 00:28:14,360 formation of a meme and in 10 years somebody will buy my bag. 490 00:28:14,440 --> 00:28:17,600 You know, I, I think it's so easy to create new memes. 491 00:28:17,920 --> 00:28:20,800 It's unbelievably easy. Like you could just say like now 492 00:28:20,800 --> 00:28:23,400 Moodang, Moodang is $50 billion target. 493 00:28:23,400 --> 00:28:29,080 Like there is always new meme. So I don't, I think one of those 494 00:28:29,080 --> 00:28:31,280 might hit that level. Let's go that way. 495 00:28:33,120 --> 00:28:37,600 Yeah, it's, I think more than one will likely still be 496 00:28:37,600 --> 00:28:39,480 relevant. I mean, if, if only one from 497 00:28:39,480 --> 00:28:42,400 this list is relevant in like next year, in a few years, I 498 00:28:42,400 --> 00:28:47,280 think that that's probably bad. Can you remember the BNB coins? 499 00:28:48,680 --> 00:28:51,000 No. Imagine this listing from BNB 500 00:28:51,000 --> 00:28:52,480 coins. Imagine if Mura had come out, 501 00:28:52,600 --> 00:28:55,040 come out during the BNB coins three years ago. 502 00:28:55,680 --> 00:28:57,840 You've no idea. You literally, you would 503 00:28:57,840 --> 00:28:59,880 literally be laughing at that this right now. 504 00:28:59,920 --> 00:29:02,040 And I'm sure there's hundreds of them from back then, you know, 505 00:29:02,040 --> 00:29:07,120 like come rocket to 100 billion. You have. 506 00:29:07,880 --> 00:29:09,640 No concept of like what's going to happen in three. 507 00:29:09,640 --> 00:29:11,680 You don't even know if Solan is going to be the thing in three 508 00:29:11,680 --> 00:29:13,280 years, right? And most of these coins are 509 00:29:13,280 --> 00:29:16,920 Solano mean coins. Yeah, it's it's a good point. 510 00:29:17,080 --> 00:29:20,640 And it it makes one, it's like the next line of thinking there 511 00:29:20,640 --> 00:29:22,520 is like how don't marry your bags. 512 00:29:22,520 --> 00:29:26,000 And then how long do you do you hold on to these even in a 513 00:29:26,120 --> 00:29:29,120 prolonged bull cycle? I I do want to talk about Mudang 514 00:29:29,120 --> 00:29:31,880 just briefly. I mean, this is, I've talked 515 00:29:31,880 --> 00:29:35,720 about it on on Twitter a couple times here in, in the last week 516 00:29:36,320 --> 00:29:39,760 and, and rightfully so, it's the the biggest runner that we've 517 00:29:39,760 --> 00:29:43,040 had on Solana in quite some time. 518 00:29:43,720 --> 00:29:45,440 We talked about in paroch yesterday. 519 00:29:45,440 --> 00:29:47,920 We're predicting like, So what happens if it gets over 100 520 00:29:47,920 --> 00:29:49,080 million? I think I said if it goes to, I 521 00:29:49,080 --> 00:29:52,640 thought I was going to go to a hundred 120 and then pull back 522 00:29:52,640 --> 00:29:56,360 to somewhere like 60 million. We, we got the move up to close 523 00:29:56,360 --> 00:30:00,360 to 110 million last night. It has since sold off a bit. 524 00:30:00,360 --> 00:30:02,760 It touched 80 million. It's back to 85,000,000 here 525 00:30:02,760 --> 00:30:04,560 now. Still up what? 526 00:30:04,560 --> 00:30:08,920 Yeah, up 37% on the day. It's been basically up only here 527 00:30:09,080 --> 00:30:11,720 for basically in its entire existence. 528 00:30:11,720 --> 00:30:14,240 I mean, it's not that old. It came out on September 10th. 529 00:30:14,240 --> 00:30:19,120 So it's two weeks old. Two weeks ran to 100 million A 530 00:30:19,120 --> 00:30:19,960 few thoughts. So 1. 531 00:30:19,960 --> 00:30:24,120 I feel like this meme, this meme itself is is more viral than I 532 00:30:24,120 --> 00:30:26,680 thought it would be like when the we first started seeing the 533 00:30:26,760 --> 00:30:28,960 the videos of the hippo. It's cute. 534 00:30:28,960 --> 00:30:31,120 Is this going to have staying power? 535 00:30:31,280 --> 00:30:34,800 It seems to have permeated pop culture at at least here for a 536 00:30:34,800 --> 00:30:36,480 few weeks. So it's got more than just a a 537 00:30:36,680 --> 00:30:40,120 handful of days staying power. I think my concern and I don't 538 00:30:40,120 --> 00:30:41,400 know any of this is just a concern. 539 00:30:41,400 --> 00:30:46,720 Just evaluating this token right now as I saw a lot of people 540 00:30:46,720 --> 00:30:49,560 sharing their sales on the timeline this morning for Moody 541 00:30:49,920 --> 00:30:51,920 and Victory laughing the returns they got. 542 00:30:51,920 --> 00:30:55,640 I didn't see anyone talking about buying it, so I am kind of 543 00:30:55,640 --> 00:30:58,800 curious, you know, who is buying this chart here? 544 00:30:59,560 --> 00:31:01,160 I saw Cook, Cook said. He bought it. 545 00:31:03,560 --> 00:31:05,480 It easier than the billion dollar price target, right I. 546 00:31:06,320 --> 00:31:09,560 Just don't know like genuinely like I saw this thing at third. 547 00:31:10,040 --> 00:31:11,800 It's about 2530. I think I mentioned it on the 548 00:31:11,800 --> 00:31:14,960 show as it was as it was rallying right, maybe 20 ish. 549 00:31:15,000 --> 00:31:17,200 We saw it. I saw it first and I think I was 550 00:31:17,240 --> 00:31:22,520 late then, but I did not think that thing was going to go to 551 00:31:22,520 --> 00:31:25,720 100 million then because we've seen other memes like that, like 552 00:31:25,720 --> 00:31:30,200 a popular culture memes. What has there's been other ones 553 00:31:30,200 --> 00:31:33,680 like Hammy hasn't, wasn't there was like things have become? 554 00:31:34,240 --> 00:31:36,840 Conversion, yeah. Like it's been very hit and 555 00:31:36,840 --> 00:31:38,880 miss, right? Very, very hit and miss. 556 00:31:40,840 --> 00:31:43,120 This one just seems to have done well. 557 00:31:43,920 --> 00:31:48,160 I don't think you can if you then think, oh the next TikTok 558 00:31:48,160 --> 00:31:49,840 meme, I'm going to like full port. 559 00:31:49,880 --> 00:31:52,040 You could also just lose everything because there's 560 00:31:52,040 --> 00:31:53,960 there's a lot of different TikTok memes that go big and 561 00:31:54,280 --> 00:31:57,000 nothing has really happened to them in the meme coin space. 562 00:31:57,400 --> 00:32:00,120 Yeah, it feels like it was kind of like a perfect timing 563 00:32:00,400 --> 00:32:02,800 scenario with the, you know, soul pumping. 564 00:32:03,120 --> 00:32:06,120 You had the the meme leaders like whip and Popcap pumping and 565 00:32:06,120 --> 00:32:08,440 just the, the general sector coming back alive. 566 00:32:08,920 --> 00:32:12,080 And this was the hot new meme. And I agree it's, it's hard to 567 00:32:12,080 --> 00:32:13,760 replicate. I think most of them struggle in 568 00:32:13,760 --> 00:32:15,680 this area, right. So last week on the show, when 569 00:32:15,680 --> 00:32:18,200 we first started talking about it is when hit 20 million, hit 570 00:32:18,200 --> 00:32:21,040 28 million, that's when I kind of started looking for a dip to 571 00:32:21,040 --> 00:32:22,480 enter. I didn't enter when it hit like 572 00:32:22,480 --> 00:32:27,920 17 and then it it shot up. We we will certainly see where 573 00:32:27,920 --> 00:32:30,720 it goes from here. I think the other interesting 574 00:32:30,720 --> 00:32:34,880 one, I mean, mother is back. I think this is probably one of 575 00:32:34,880 --> 00:32:40,160 the bigger surprise, surprise price action on memes. 576 00:32:40,560 --> 00:32:42,880 That's how it's pretty good. So it it had its initial run to 577 00:32:42,880 --> 00:32:46,720 1/4 billion fell 8085%. I think there's probably some 578 00:32:46,720 --> 00:32:48,920 questions to people's mind. Is Ziggy going to stick with 579 00:32:48,920 --> 00:32:52,520 this? And it all indications are that 580 00:32:52,520 --> 00:32:56,080 she has indeed stuck with it. It's back to 100 million. 581 00:32:56,080 --> 00:32:58,800 Like she flew to Singapore to tout this. 582 00:32:58,800 --> 00:33:02,320 She's been touting the the move to 100 million on her page. 583 00:33:03,040 --> 00:33:07,600 I'm going to try to find the the tweet Now we've got Ansem and 584 00:33:08,000 --> 00:33:11,280 Arthur Hayes both touting this. So yes, yesterday Anthem, this 585 00:33:11,280 --> 00:33:15,880 is this is last night. He's saying mother is a meme 586 00:33:15,880 --> 00:33:17,720 coin integrated into three different start-ups. 587 00:33:17,720 --> 00:33:21,520 Motherland, the online casino dream Vault, which is that her 588 00:33:21,600 --> 00:33:24,240 only fans, then Unreal Mobile, the global cell service 589 00:33:24,240 --> 00:33:25,600 provider. I've kind of forgotten about 590 00:33:25,600 --> 00:33:32,440 that one, but yeah, that. Sounds like a meme in itself 591 00:33:32,440 --> 00:33:37,520 though really doesn't it? Like how people I would love to 592 00:33:37,520 --> 00:33:39,880 know how many people are spending mother to buy mobile 593 00:33:39,880 --> 00:33:41,880 plans for me. Azalea right now but I don't 594 00:33:41,880 --> 00:33:43,680 think it's high. Maybe the only fans though. 595 00:33:43,680 --> 00:33:45,480 Like she does have a legitimate only fans account. 596 00:33:45,480 --> 00:33:47,720 Like maybe that's a big one and then the casinos not to be 597 00:33:47,720 --> 00:33:49,120 known. I think she's done a great job 598 00:33:49,120 --> 00:33:52,040 at this in general though. But let's not. 599 00:33:53,840 --> 00:33:54,840 Let's not get ahead of ourselves. 600 00:33:55,760 --> 00:33:58,120 Yeah, let's, let's not talk to all this, the future of France, 601 00:33:58,160 --> 00:34:00,440 you know what I mean? I'm just worried the last time 602 00:34:00,440 --> 00:34:04,200 the Arthur Hayes and Anson teamed up was to show pups at 603 00:34:04,200 --> 00:34:08,360 the very top, so that that alone has given me some pause. 604 00:34:08,360 --> 00:34:09,800 All right, I think that's enough. 605 00:34:10,280 --> 00:34:12,199 I'm super happy that this has happened. 606 00:34:12,280 --> 00:34:14,840 Right. Like remember when all for all 607 00:34:14,840 --> 00:34:18,840 the rugs that happened from the celebrity mean point cycle? 608 00:34:18,840 --> 00:34:24,440 This one's been done, right? Yeah, hard to argue, Hard to 609 00:34:24,440 --> 00:34:27,679 argue with that. I think that rounds out our meme 610 00:34:27,679 --> 00:34:29,000 talk. Just a couple other headlines I 611 00:34:29,000 --> 00:34:30,480 thought were interesting from the day. 612 00:34:30,480 --> 00:34:33,360 So Jeremy Olaren Circle announced a new compliance 613 00:34:33,360 --> 00:34:35,880 engine product. I think what made this more 614 00:34:35,880 --> 00:34:40,000 interesting was Zack XPT in the top comment pointing out the 615 00:34:40,000 --> 00:34:43,400 compliance flaws from their own products and how easy it is for 616 00:34:43,400 --> 00:34:47,880 him to find sanctions violations and North North Korea people 617 00:34:47,880 --> 00:34:50,120 receiving USDC payments on Circle. 618 00:34:51,080 --> 00:34:55,440 So that, that thought, that was an interesting spin on that, 619 00:34:55,440 --> 00:34:57,560 that new compliance project, effectively a transaction 620 00:34:57,560 --> 00:35:01,560 monitoring tool from monitoring compliance with US and global 621 00:35:01,560 --> 00:35:04,560 regulations for, for stable coins, as I understand it. 622 00:35:05,320 --> 00:35:09,400 So we'll see how, how that product fares in the market in 623 00:35:09,400 --> 00:35:12,160 the NFT space. News out of art blocks. 624 00:35:12,160 --> 00:35:15,600 So they kind of announced their new vision and effectively they 625 00:35:15,600 --> 00:35:20,440 are leaning into the, the physical X digital hybrids. 626 00:35:20,920 --> 00:35:24,200 They had their first project to really kick this off. 627 00:35:24,200 --> 00:35:26,600 It's going to be with artist MP Cos I think anyone who's close 628 00:35:26,600 --> 00:35:29,680 to the art block scene will know that name. 629 00:35:30,080 --> 00:35:35,400 The project is called Bouquet and there's going to be like 320 630 00:35:35,440 --> 00:35:38,960 or so total pieces, 300 of degenerative artworks. 631 00:35:38,960 --> 00:35:41,320 There will be an exchange for physicals. 632 00:35:41,320 --> 00:35:44,360 You can kind of see a glimpse of what the physical sculptures 633 00:35:44,400 --> 00:35:48,200 here will look like. So it's an interesting movie 634 00:35:48,200 --> 00:35:49,880 here from our box. I think they needed to pivot. 635 00:35:49,880 --> 00:35:52,520 They needed something fresh. They took a long pause to kind 636 00:35:52,520 --> 00:35:55,200 of reset. I think demand was basically at 637 00:35:55,200 --> 00:35:58,480 all time low, but supply was pumping out on a weekly, monthly 638 00:35:58,480 --> 00:36:00,240 basis. I think they finally saw that 639 00:36:00,920 --> 00:36:03,960 and now are are acting. I think it's an interesting new 640 00:36:03,960 --> 00:36:07,000 direction. I think there is demand for for 641 00:36:07,000 --> 00:36:08,720 physicals. We will, we will see, you know 642 00:36:08,800 --> 00:36:14,120 how much there is. And then perhaps at last story 643 00:36:14,120 --> 00:36:17,120 here, this is maybe more on the negative side, maybe more of a 644 00:36:17,120 --> 00:36:18,560 bullish catalyst. We'll see. 645 00:36:18,560 --> 00:36:23,640 So that this the ape coin Dow Secretary Bojangle guy is 646 00:36:23,680 --> 00:36:26,440 resigning. He effectively wrote a letter 647 00:36:26,960 --> 00:36:30,320 with all this kind of complaints and, and rationale for, for 648 00:36:30,320 --> 00:36:35,480 leaving the ape coin Dow, pointing to just structural 649 00:36:35,640 --> 00:36:41,200 inefficiencies, effectively overspending inactive stewards 650 00:36:41,200 --> 00:36:43,320 across the community. People who received, you know, 651 00:36:43,320 --> 00:36:46,320 nearly $10,000 a month and don't really show up for work. 652 00:36:46,800 --> 00:36:51,840 A a broad lack of comms and, and basically just not many notable 653 00:36:51,840 --> 00:36:57,360 contributions to the Dow. This I think did light a fire a 654 00:36:57,360 --> 00:37:02,480 little bit under some folks in the eight coin Dow community. 655 00:37:02,480 --> 00:37:07,440 I think Wabam, who he's been a good spokesman for the Dow 656 00:37:07,440 --> 00:37:10,040 basically come out and said the only thing that we care about 657 00:37:10,040 --> 00:37:14,680 now is ape Jane and wasteful spending from the Dow has to 658 00:37:14,680 --> 00:37:17,560 stop. Only the only thing that anyone 659 00:37:17,560 --> 00:37:20,840 should be focused on is, is Ape Jane at this point. 660 00:37:20,840 --> 00:37:23,720 So I mean, this is what it took for them to kind of come to that 661 00:37:23,720 --> 00:37:27,440 realization. Then then perhaps this will end 662 00:37:27,440 --> 00:37:31,160 up being a positive catalyst. Curious if you have any 663 00:37:31,160 --> 00:37:33,720 reactions to to this man. And of course, you were, you 664 00:37:33,720 --> 00:37:37,480 know, deep in the the ape ecosystem at one point. 665 00:37:37,480 --> 00:37:39,400 I'm not sure if you've been following the ape coin Dow 666 00:37:40,800 --> 00:37:42,760 thoughts on ape chain. Do you think they're going to be 667 00:37:42,760 --> 00:37:50,200 able to to pull it off here? I mean another L2. 668 00:37:51,920 --> 00:37:53,680 Is it an L2? I think it is right. 669 00:37:53,960 --> 00:37:55,680 L2 or an L3? I've kind of. 670 00:37:56,160 --> 00:37:58,000 Maybe. I think, yeah, I don't know, 671 00:37:58,000 --> 00:37:59,880 man, Like maybe maybe they've been shot. 672 00:37:59,880 --> 00:38:01,640 Feels like pudgy Penguin is doing the same thing at the 673 00:38:01,640 --> 00:38:07,880 moment. I I bet I said that they were 674 00:38:07,880 --> 00:38:12,400 spending too much money before like very little sort of return. 675 00:38:12,520 --> 00:38:14,920 I think they need to like the way that those foundations work. 676 00:38:14,920 --> 00:38:17,200 Like you do need to show that you have like an actual 677 00:38:17,920 --> 00:38:21,720 operation at hand. So maybe they needed to do this. 678 00:38:23,320 --> 00:38:24,840 This is cryptos major problem, right? 679 00:38:24,840 --> 00:38:30,400 Dows are that's tough. Getting stuff done is tough. 680 00:38:31,080 --> 00:38:34,640 It seems pretty. I don't think Gordon and Gaga 681 00:38:36,480 --> 00:38:40,360 spend their time thinking about 8 chain genuinely. 682 00:38:40,480 --> 00:38:43,840 I think they, they do not care about it. 683 00:38:45,000 --> 00:38:47,120 They they, they realized everyone made some money out of 684 00:38:47,120 --> 00:38:49,320 it and they're happy about that. But they're just trying to 685 00:38:49,320 --> 00:38:53,480 create a cool ecosystem for the NFTS and like a more of a 686 00:38:53,480 --> 00:38:57,080 membership club. Yeah, I think that jives with 687 00:38:57,080 --> 00:39:00,800 what I've seen and and heard, you know second and third hand 688 00:39:00,800 --> 00:39:05,840 as well. I think that's it's tough to be 689 00:39:05,840 --> 00:39:09,160 bullish on Apecoin on a long term time horizon. 690 00:39:09,480 --> 00:39:14,640 It's still at 500 million market cap, 830 million FTV, but it is 691 00:39:14,640 --> 00:39:17,800 up 40% off the bottom. It is somewhat benefiting at 692 00:39:17,800 --> 00:39:20,600 least from this alt corner. I so anyone who stepped in at 693 00:39:20,600 --> 00:39:25,160 $0.60, even $0.70 is feeling decent about their buys. 694 00:39:26,000 --> 00:39:29,000 We will certainly see how those age. 695 00:39:29,840 --> 00:39:32,120 But with that, I think that takes us around the horn. 696 00:39:32,120 --> 00:39:35,080 That's everything I wanted to cover on today's show. 697 00:39:35,080 --> 00:39:38,360 Mandy Mando, thanks. We went deep across the park, so 698 00:39:38,360 --> 00:39:40,680 I appreciate your thoughts. As always, want to shout out to 699 00:39:40,720 --> 00:39:43,840 our listeners for tuning in to today's show. 700 00:39:44,000 --> 00:39:47,240 We'll be back tomorrow. Farooq will be back to break 701 00:39:47,240 --> 00:39:51,360 down all of today's action. As for today, go have a great 702 00:39:51,360 --> 00:39:52,800 Wednesday. Make it a beautiful day.