Yo-yo yo-yo yo what up, what up Good morning, good morning DMG
Monday, January 42nd 20245555 Definitely a February 10th, 2025
look at that. Another beautiful day to have a
beautiful day. I got my coast in the house.
Tyler Mando, good morning boys. How you doing today?
What's up brother? How are you?
What's? Up brother, you good?
Feeling fantastic today, Mando. Yes.
I like that. I like that.
I like. I just bought some fart coin the
other day. You want I love that this guy
bought again. Mando did Mando's mangoes, baby
Mando's mangoes. These guys Bias, you know, Bias
bought some fart coins. It's Friday morning, Saturday.
I forget it's one of the mornings you texted and you post
it and look at that Sup a lot. You know, never misses that
misses. Tyler, you had a busy weekend.
You're going to be busy today on this show because I was tapped
out. So you're going to have a busy
show today. But Tyler, how you doing this
weekend today? I'm good for the first Monday in
a month. We're not bleeding red.
Wait, don't Jake say knock on wood, knock on wood, knock on
wood. Yes, yeah, of course, anything
could change in any minute. But a little bit of green on the
board this morning, We'll take it.
Hey, could this be a paradigm shift plus vibe shift plus new
paradigm plus? It was that copy pasta I
remember we had at some point like this plus this plus that.
But look, it does feel good. Hey, could it be that sellers
are exhausted? Is the meme becoming a reality?
I was thinking about this last night.
Well, let's talk about doing the market anyways.
I was thinking what? I was like, hey, and like, who
else is left to sell? I mean, fuck stables.
You guys talk about stable coins.
You, you guys are posting stable coins higher every single day.
I'm like, dude, how many more stables can we have?
There's more stables than meme coins right now.
Valued. Anyways, let's talk about that
in the midst of market today, Tyler's top 1000 and there was a
lot like big balls, jail stool, Central African Republic or some
shit, which obviously ended up being a hacker, whatever.
We're going to talk about all this stuff because that was
insane. So the left curve corner today
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If you get drained, you won't get wrecked, man, though let's
get right into this market because it's it's, it's
definitely interesting right now.
Who is the? Man, that GoDaddy of the man.
Can you dig it? GM everyone, we had a great
weekend. Bit of a mixed weekend I would
say for price action here in crypto.
Bitcoin is still hanging out, kind of just below 100K.
Been there for well just over a week now, 10 days.
Looks like we're heading up to WE.
We broke below that level on the 1st of the month.
Now on the 10th. The last couple days have been
slightly more green. It looked like we're about to
head lower yesterday and then we kind of bounced from A95K area.
Salon has been slightly outperforming over the last 24
hours. Bitcoin dominance is still up
around 6062% though. So yeah, still still feels like
not a great market, at least for alts on a broad, broad basis.
Over the weekend, you just again increase, I would say in the
velocity of memes. If if you literally logged off
on Friday and came back today, you might just have not realized
what's been going on. But memes just go to like 300
million and then zero within the space of a few hours.
It feels like in this market and that's kind of how people are
adapting a lot. We it's all red in the number of
like the left curve stuff for the majority of the weekend.
Stuff is bouncing again this morning, but it feels like
people are still very worried to own anything for more than a few
hours this weekend. I mean, I'm sure we're going to
talk with Tyler, but there was 3 or 4 different runners.
One of them went to all the way up to nearly a billion dollars
and the other? One it it kissed it, that was.
Crazy other ones all went up to hundreds of millions.
Huge volume in them. So the trenches are not dead,
it's just that people are very, very, very wary of of holding on
to coins it feels like, which is not a very nice environment I
think for a lot of people. You know, a lot of people don't
want to have to be looking at stuff 24/7.
They want to be able to chill for like a few hours.
So what we've seen is a big move again towards stables, towards
majors, Bitcoin dominance going higher just because I think
people are losing money or they recognize they don't have much
of an edge in in this market unless you're there like 24/7.
Interestingly, yeah, we did see soul stable coin supply flip
meme coins. Now what does that even mean?
Yeah. What does that mean?
Before in November, sole stable coins was about $3 billion and
sole memes are about 24 or $23 billion.
So so you have can. You repeat those numbers.
So right now they are. We can bring them up.
It's a 12 stole stole stable coins. 12 billion.
Yeah, and memes are 11 in November.
Stable coins were about around 3:00 and memes are about 2425.
My God so memes are down 50% while stable cone supply is up
like 4X. Exactly, so this used to be
about 6-7 X difference between the two of them.
My goodness. And what we've seen is people
have pummelled those LP's and seemingly moved to stables.
So Seoul TBL actually hasn't changed like a huge amount over
this period, but you've just seen a movement away from meme
coins and and mainly into stables.
So very interesting dynamic there.
Obviously this is a market and to be clear, 3 billion of that
is come from Trump. So that figure is really.
So it's. Really not that much.
It's really like 8 billion. So you've really seen here is is
is soul memes, assuming Trump hadn't come, have gone from 2324
billion down to 8 and stables have gone from three up to 12.
So a really crazy move that now I personally think at this stage
that's pretty. Bullish.
Yeah, it's very bottomy, right? Yeah, stables on Ether are much
higher, but they they it's a normally chickens on ether,
right. Whereas the majority of the
money on Solana, it's casino money.
Like it's, it's used, it's yeah, it's all, it's been casino style
money. So it's just a very interesting
term that like people are just don't see value in in meme coins
anymore. You know what?
Bunk and Trump are nearly 50% of that figure together.
Well, no, remember, because I just said Trump.
That's excluding Trump I. Just oh, the 11 billion figure
excludes Trump are ready. No, no, that includes Trump.
No. So that's what I'm saying.
So right. Yeah, yeah.
It's just sorry, it's the 11 figure.
It's a third of it. It's a third of it is just Trump
bonk. Wow, 40% of it.
Yeah, it is. It is pretty wild.
And just to, to to put that again in perspective, just Wiff
and Bonk were worth 10 billion back in November together.
But with for 7 billion for a hot second on all the meme.
Coins. All the meme coins on on Solana
are now worth less 20% less than just WYFF and bonk were worth in
in OK lose Trump right? So it's it.
I mean these are figures. Everyone has felt this for a
while. But if figures probably at this
stage make you understand like how bottom me this has started
to become or like how bad this is this has become.
P9 is 170 M. Right.
Exactly. That was 2 1/2 billion back in
November, so. You could you just.
Forget like how high some of these things were.
It was a really crazy time. Then Bonk with peanut pop cat
was 2 right It yeah, a really, really crazy, crazy move across
the board there. So I, I think, I think this
week, I mean, we can continue to pummel these coins, but I, I
also think that people will probably return a little bit
more just because the pace, it's gone even quicker than when it
was with Trump, right? Like the pace of memes.
I actually think it's like hours now or minutes you have.
You. You're not on it.
You're out. Yeah.
Don't even try. Like you're just not in.
You're out. You.
Know so so and I think people in that world will realize that
like yeah it's then there may be some value again here.
This does feel a little bit bottomy when I saw that sort of
figure right like how down but how much those stables are those
stables will will eventually return to the casino in my
opinion or a lot of them will be dragged back into the casino.
So I, I, I quite like a few more of the risky bits of the market
here, but let's let's see what happens.
And then it's. Like bigger, bigger news,
Bitcoin, Bitcoin adoption just just continues to skyrocket.
This weekend we had, well, today we had Japan approving a bunch
of Bitcoin ETFs and lowering crypto taxes.
That that's huge. I mean, Japan moving towards,
it's a very, very big thing in my opinion.
Metaplanet, which is kind of their answer to MicroStrategy is
committed to buying 21,000 Bitcoin over until 2026.
And then you've had now I think Tyler mentioned over the
weekend, 22 states, 22 states have now proposed Bitcoin
reserve bills. And then you had various from
people coming in and Klarna, which is probably one of the
bigger ones has come in and accepted Bitcoin payments.
So you're seeing adoption there across wow trees, states,
companies. I think the University of Austin
even did a Bitcoin going to buy 5 million of Bitcoin like.
In I love that. Yeah.
So it's going to be a big, big move.
So this this is like disconnect, which I think a lot of people
continue to point to between Bitcoin.
Well, I would say institutional crypto and crypto Twitter
disconnect, which was a tweet, was it, you tell, I know I
retweeted it, but it was Matt Hoogan from Bitwise that tweeted
last week. I think that may have brought up
Friday or some shit on the show, but it was it's this one, right,
man, that's the point you're making.
There's an absolutely massive disconnect between retail and
professional sentiment in crypto right now.
Retail sentiment is the worst it's been in years, while
professional investors are extraordinarily bullish.
It's like living in two completely separate worlds.
And I think this is a sentiment you like us 3 have kind of been
feeling and we talk about it a lot like we feel very bullish,
all of us, and we see this and I feel like a lot of CTS feeling
very bearish, right? So I think this was a good kind
of like TLDR of how the the state of the affairs you're in
crypto. Yeah, it's tough.
I mean, so you, you've got a retail buddy who learns you're
in crypto and then he asks you what to buy.
And if you tell him Bitcoin, he just kind of looks the other way
just because it's like, all right, maybe he's got 5K to
invest and he doesn't want to buy. .5.
Bitcoin So what they do is they go down the risk curve.
Anyone who bought Trump on central exchanges is down.
Everyone. Anyone who bought Portnoy's coin
on Kraken yesterday is down a lot now.
So like that just keeps happening.
And so anyone who's the main coin streaks from retail is
getting is getting hurt pretty bad.
And now they just, they're just kind of turning away.
I feel like it's kind of what's happening.
What solves this? I saw a few conversations on the
timeline regarding how it's changing to list faster.
Like like people were giving hyper liquid a lot of kudos the
other day. What was the coin you listed
right away that the more volume than the Binance doesn't mean
coin got listed Friday. Big one TST it was in TST but we
should talk about TST too. By the way, what the fuck?
Hyper liquid was very quick to list the coin on Friday and it
was doing more per volume and hyper liquid on Binance.
First it was Berra. Sorry, that's not a meme coin I
guess so it does not count. But yes it was better.
But I guess still similar examples.
Like people were talking a lot again about how mean exchange
needs to be faster on the listing side.
Like how do we fix this because retail continues to get wrecked
or retail just needs to adopt Moon shot only and moon shot did
pass Coinbase this weekend in the top App Store.
Like what's the solution to this?
Right? Retail continues to take ALS.
Yeah, I don't, I don't know the answer necessarily.
It's tough right? Should the exchanges have an arm
that's like cracking plus or Coinbase plus?
I don't know. I'm just trying to think like
that auto lists things or auto indexes auto like or but then
what's happening on the regulatory side with the
exchange like how do we fix this?
Well, that's. Been saying right.
They basically said we should just list everything.
We can just list Coinbase. Oh, did they say that?
Brian Armstrong said he wants to move to try and list everything
it. Should be a dex.
It should be like a dex. Everything's there.
You trade through, you trade through Coinbase wallet on
Coinbase to to if you want to buy DEX coin.
So yeah, that's what they said. They'd still be some sort of.
They'd still be obviously, like a.
Well, like a trick list like on Jupiter.
Yeah, there'd be an on boarding process to get onto the actual
main sex, but but the the the idea is that anyone should be
able, you should be able to trade any coin on Binance or
Coinbase. They should have like a dex arm.
Does that make sense guys? Like I mean, or we just start
supporting moon shot and all these apps more and Jupiter and
shit like that and Phantom like I think.
You're aware of this? I do.
I think they they actually, they see suddenly that their biggest
threat right now is that dex volumes are soaring even while
sex volumes are not going absolutely crazy and the
majority of users are suddenly on chain.
Yeah. Nobody wants to get wrecked also
by market makers on a sex, you know what I mean?
Like let's look at far coin. Far coin is like arguing like
the most popular meme right now. Let's say put it that way, like
or like in terms of like that we can compare to like you have the
24 hour volume sex one O 8 million, the X 120 mil even sex.
I'm surprised that far coin is $108 million on sex, like which
sex they're doing that on. So you know what I mean.
So I think it speaks for it speaks volumes to that.
Can you click the sex? What sex anyways?
My volume. It's doing big get 15,000,000 a
Kraken 5 Kucoin 11 Mexi 15 gate, so gate dot IO actually does so
gate dot IO has become like really big this this last few
months. They're consistently one of the
highest exchange volumes in the game, top five S 42.
No color on if it's market makers and stuff like this, but
I don't think so. But what's happened?
With this jail still token. Sorry, I just interrupt you.
But I think we should get there. Do we?
Do we want to go to Tyler? Are you done, Manda?
We can start with jail still. That's what people are saying.
I don't even know it's speed right to.
Zero right now. I don't think so.
I can explain what do we want to go right to or do you want?
To get an 80 down 81% as. The last 24 hours.
Yeah, we'll run through some headlines real quick and then
talk about jail stool. But some big news over the
weekend crypto majors First off green this morning despite
tariff concerns, Bitcoin leading the way.
Japan's Financial Services Agency to revise their crypto
policy and lift their ban on crypto and ETFs huge news
Metaplanet sharing plans to buy 21,000 Bitcoin by 2026.
That is a believe the Japanese version of MicroStrategy.
Sailor meanwhile, bought another 7600 Bitcoin, $740 million.
So he's back and buying big FTX. They're going to start repaying
customers February 18th. That is next Tuesday.
Those Stemies are coming. As many I mentioned, 22 United
States have now proposed a strategic Bitcoin reserve bill.
Utah along University of Austin bought $5 million of Bitcoin.
Notably, this is what they said I'm quoting.
We don't want to be left behind. That is going to be the mantra
of everyone who capitulates in over the coming months.
And token AirDrop and protocol news Pump Fun reportedly
planning to launch a token, may adopt A Dutch auction model.
This is all according to the Wu blockchain account.
Allen has not confirmed this, but some big speculation there.
Myriad smashing new records, 25,000 sign ups yesterday,
82,000 union visitors on Sunday. Ahead of those upcoming USDC
markets. We're excited for those in hyper
liquid. You look at the hyper liquid
market share and perps, they are eating the market.
They passed 50 in the past week. AI, crypto overall market cap
$6.9 billion. Most leaders are actually up
about 10 to 25% on the day, but they're pretty volatile.
They're kind of just going back and forth this accelerate now.
They launched their 2025 road map focused on building their
accelerator tokenomics and partnerships and then totally
plugged this new Whispers AI product with the tagline they
put they put crypto into the phone lines.
That did lead to surge, lead to a surge in the WISP token,
though it has since reversed a bit in memes.
Let's see meme coin leaders were actually read this morning.
The jail stool token is taking over the timeline it's tied to
De Portnoy briefly hit $200 million yesterday.
It's now at 36 million after a spaces this morning where he
apparently said he is still considering own token.
The market did not like that. We saw this pain token trade
near 400 million on premarkets, of course, on low volume.
Take it with a grain of salt but that would be a huge return for
pre sailors and then this nation state memcoins.
Cao. That was quite the debacle.
But that is the coin that ranched here.
A billion yesterday. It was heavily bundled.
A lot of red flags tied to this one.
I'm not if it's real or not, but it's trading like it's not real
that way. I mean, given the latest
information, I think we could almost assume it's not, But it
was. I got to tell you guys, and I
want to talk about just so. But that one was funny for me
because, like, it was an African nation and like, the whole
speech was in French and like, it was just hilarious.
Like I was just listening to the thing, like just dying.
He's our country. Help us?
Yeah, Help us understand why was it so funny?
It's just like. I don't know, like, because when
you grew up in France and like in French system school, like
you study, you get taught like all the like the different
African nations and the study of like all this stuff.
And it's just like the guy comes on and does this like speech
that's like just like, so I don't explain it.
Like I was trying all night long to find comparisons so that you
guys could understand like what it would feel like it's like,
but like there's no comparison. Like it was just so, so, so
funny because it's like, you know, there's a lot of
corruption in some nations out there.
And like it just sounded like the guy was just straight up
committing like a crime while he was speaking.
Like I just, it was, it was like that.
Like it was just like, it sounded like the country was
like getting ready to rug crypto folks for fun.
Like I don't know. But it's but now I don't know.
Maybe it is deep fake AI, whatever.
The background clearly was fake. Like you could tell it was like
fading. It was like 1 of Mando's
backgrounds like this like looks real, but when he moves, like
you can tell it's not a real background.
But I don't know, I thought it was hilarious.
And that went to a billion. That was like speed racing to
zero. We should talk about all of
them. There was big balls jails.
Tool and thing. Let's start with jail tool
though, because people are listening to us now and this is
happening right now. What's going on here?
I'm I'm seeing some tweets from Easy and everyone, I mean,
they've been at war with Yeah, so.
What's 200 million yesterday? Couldn't really get past that
level. Dave said he was going to do a
halftime show, halftime spaces. The token kind of chopped around
100 million until his show. The announcement, he didn't
really have a huge announcement really.
I think the token got listed on Kraken within 24 hours.
It had 100,000 holders in 24 hours.
So it, I mean, a lot of people did jump into this thing.
I did not listen to the space this morning.
From what I have gathered from folks who were listening,
basically he was kind of railing on crypto Twitter saying most
people are are just idiots cry babies.
And then he also mentioned that he still is thinking about doing
his own coin and folks did not like.
That let's listen to this this this some DDTG, right?
Oh, oh, oh, OK, OK, hold on, hold on, hold on.
Let's what what is going on here?
It looks like there was a crash out moment here on the stream.
Let's see. We can't hear it, but.
So, so the the list, the spaces heard it right.
It's YouTube that couldn't hear or or nobody heard it.
I I'm not sure. I know he.
Was going off on choose Rich. He's calling.
Choose Rich's scumbag for like calling.
Choose Rich's scumbag saying that all Nick is texting him on
the side offering to suck his Dick.
That's not me saying it. I'm just repeating what David
said before you come in and and stuff like that.
Fantastic. So I mean.
Good vibes guys, good. Vibes well, let's let's clearly
say so I think there's people are asking did he rug like by
definition of rugging? No, I don't think he did by.
Definition did not rug. I don't believe that he's sold
any. Unless he's sold.
And again, I am not, I don't have his wallets pulled up, but
I'm pretty sure that if he would have sold like this thing would
be at 0, not 40. It's down 7%, but.
The one thing I would say is I this is my favorite way so far
of celebrities getting into crypto.
I have to say that, which is like adopting an existing token.
Yeah, but what happened, Mando is on that DDTG.
So he did it everything, I guess you could argue right so far.
And then he says he may he's still thinking about launching
his coin, which is why it's just.
Tanked. That's an issue, yeah.
But This is why this by the way, this this is because of that,
right Tyler, you create me from. The sell off start selling
office. He was just like kind of being
an asshole on the stream on this.
He has been quite a I have to say, and I'm I'm calling for
someone was a bit a fan of his like I was like I was telling
Tyler earlier this morning, like 2020.
I notification on Dave following AM CGMEI was a moon boy with
Dave Portnoy, listen to every DDTGI had it all and like
whatever that's called Dave Portnoy like that.
Like I like the guy. I'm a huge fan of Barstool
Sports and the business model, which is really cool in media,
but like he's been kind of a Dick to the crypto community
guys. Like he's kind of been like, you
know, I want. To talk about the methods.
So like I actually agree with Mando.
That's part of the reason why I bought it.
In disclosure, I I did buy in on Friday night.
I still hold some coins down quite a bit from from where they
were yesterday. We were bracing with a few
folks, like, what would be the best way to launch a meet the
Fairest way? Because everyone's concerned.
Like if he launches, it's going to nuke all of our tokens, blah,
blah, blah. And one idea that was someone
pitched was you launch a token, you don't tell anyone, you let
it die, you let all the snipers get out of it.
And then once everything's settled, you kind of start
running with the coin. And in some ways it's kind of
how Jail Stool played out. Someone else launched it,
Portnoy adopted it and started when it was a low market cap
take out. So it ran to 10 million and then
it it dropped 70% in the first few hours back to 3 million.
And then he kind of came back and endorsed it like, hey, I'm
going to run with oh, because he sold it, right?
So he sold it said he said it was on accident.
And then he re bought the coins and more.
And he's like, yeah, I'm going to run with this thing.
And then he he was kind of making it more into Saturday and
Sunday that he was actually going to run with it more
seriously. And that's what pushes the 200.
It couldn't really get past the 200 number.
And then it's like, whatever he was doing last night.
So he launched merch. He said he was going to take the
funds from the merch, rebuy the token.
That didn't really move the needle too much.
Telling you being being a meme called dev is not not for the
faint hearted. You're doing pretty good.
We should talk about you in a second because your your shit's
pumping hard but. Not for the fan, but you got to
but. Yeah, I mean, if Dave Portnoy
can't pump a coin past 200 like. Dude, so let's let's talk about
this guys like because you told me I I made that .2 in the
weekend right Tyler when I was popping in and out like this,
this 200 two 150 million mark on Solana.
That is just like so hard. That's why I have my line here
because I was like let's see if it reaches it one day at all
time. I it's like impossible to beat
to reach like it's gone. Like if you guys remember Jelly
Jelly, like 250 dead, 220 Ms. become like extremely hard
ceiling to pass. Because like back to the point
Mando was making at the beginning of the show, these are
daily tokens. These traders, like let's say
the trading groups like Franks and stuff like that.
These guys aren't holding past 20 and they're on to the next
token because they're smart actually, because right, you
don't become a community member of Dave Portnoy's.
So I don't know, it looks like there's that's the hard, hard
ceiling at this stage. Guys like no token managed to
stay like even the car one. Let's talk about that for a
second. Sure, it went higher, but you
know, it was like 95%, like, Oh my God.
This is a bad one. You would just have no idea.
You would see this coin and be like, oh, OK, it's 100 million.
That's crazy. Like it went to 900 mil.
Those initial candles, dude, look at within 15 minutes there
was a three. Within 45 minutes is at 300
four, 100 million. Like I was online last night,
this didn't cross my desk till 390.
It was at 390. Million same.
So 450 mil on the 75th minute, yeah.
Thank you. What so the only people who ate
on this one of the people, I mean Frank did he was up over he
made I think he cleared over a million.
The people who caught it early, they're very.
Very bought it three days early. What did Frank do again?
Happened to be tweeting about it three days early I.
Don't know if this one's real or not.
What's the definition of real? It was like it was like 95%
bundled. So once people figured that out,
that's kind of what pushed the second leg up, because then
everyone's like, oh, the actual one it is.
I got to go gents. See you.
It's Amanda so probably so easy saying probably shouldn't have
referred to lodge holders. Mutants also probably shouldn't
have yapped about launching your own token right after say you
were buying 120 K and only buying 32K.
But you refuse to acknowledge anyone who's active in the space
and let your ego only go trip drop the chart faster than your
crypto credibility. I have to say, like, not a great
look, you know? Not a great look.
And now it's just like, how's he going to come back from this?
Because it's. Going to be tough to.
Buy back in and anyone who bought on Kraken is now down
70%. Why is he doing it like this?
Like, to be honest, you have all this support.
Like, I know they're cracking people.
We work with them, right? Remember they used to sponsor
our show like before. You work with us, Tyler.
Like, they're a really fucking amazing team.
I talk to them all the time. I'll be community close friends,
good people. And then he Portnoy does
something this like he's had it all going on.
Like remember, like it was kind of like at first like, oh fuck,
he's pumping, dumping slow market cap.
So maybe we could have argued that.
Then they started planning cool stuff, not they cracking.
They like Portnoy team. Then they did this jail stool
thing, which you're right, by the way, Tyler, in retrospect,
finding a debt coin, taking it over, buying supply with your
own money, Chad, like alpha move, but then he crashes out on
the Monday morning on the first Monday after the thing.
Like why? Like there's no need bro.
Yeah, that's why, I mean, I, I gave it more time because I
wanted to see this this weekend. Yeah.
Like it was the Super Bowl. My read was derung with the
coin. I did not have the read that he
was going to come out and just dunk on everyone and crash out.
But like, why? Like also like I'm kind of like
I like Dave, man. I like barstool so I don't want
people think I'm hating. Just like, why do you do this?
Like I didn't. I also love my industry, us and
what we do better than I like barstool and Dave.
Like I don't like how they treat us like this is like he's just
like calling us on mutants and retards and fucking morons and
this and then I was stupid. Like fuck you, dude.
Like where are the people moving the needle in a new like
paradigm? You know what I mean?
Like, I'm tired of being dunked on by these people, you know?
Yeah, and I've been, and it feels like it's all tied to the
meme coin sector. Like if I'm being brutally
honest. Of course.
I I talk to that a lot. I trade it a lot.
It's like that's where all a lot of the action attention has
been. But it's definitely like
becoming more of a black guy. Like, I can't, I can't argue
that. It's like a non-stop dude and
then your homies Tyler, like in the USA, obviously they all know
Barstool Sports because barstool is the biggest fucking shit.
Barstool is sick. I love barstool, but then like
they listen to this and they're like, oh, these meme coin guys
are are stupid. And then like and then they
blame us like Nikita the other day.
I like Nikita beer, but he's like, oh, I don't blame anyone
for not launching meme corn. Look at how these meme corn guys
are reacting. Maybe don't cause the thing in
the 1st place. Like it's like pure gaslighting,
you know, like the Jelly Jelly guys are like now blaming the
bit, the meme corn traders for having such short.
Yeah, no shit. You know, it's like going to the
casino and the guy's losing his money.
He's like, ha ha, loser. Are you saying come to the
casino? Say what?
You know, I don't know. This current meta with
everything running up so far, so fast, it's just we've seen the
mean points to do well over time, right?
It's like the whip, whip was 16,000,000 like 3 or 4 weeks in
and then it was 30. Then it was this these new
metas. If you don't buy a token in the
first hour or day, it's already at 100 or 200 million.
And then and then at that point like there's every inters is
going to lose 70% and then then you then no one's having fun.
The money is just evaporating. Yesterday, 800 million, I had
people kept texting me that I'm fading the Central African fit
because I, you know, I tweeted yesterday I was like, oh wow,
this thing's GDP. And then I tweeted about how
I'm, I'm taking like a weekend off, which probably really good
by the way, but like off trading.
So I would only tweet and then close Twitter.
That was my rule. I come in because I wanted to
yap a little bit, you know what I mean?
And then I do want to leave. And and then yesterday I was
like, well, I miss big balls. I miss this, I make that.
And this guy's like, what? Are you going to keep fading,
Carl? I'm like, fuck yeah, I'm going
to keep fading. It's 800 mil.
I'd be fucking down so bad right now.
How to listen to the people saying I'm fading?
And they probably have the bag in round trip.
So there's lessons in there, Tyler, you know?
I was, I was similar to like I was in like we speed around the
emotional cycle. Last week I was passed anger
into like indifference and I was fine.
Just like not being in the trenches and missing the runners
of the day. And then like the port noise
stuff happens and then I get out of my indifference and by jail
stool and then I end up trading a little bit this weekend.
And the reality is I would have been better just not trading
anything. So and, and, and then I'll end
up with that. Then you also have a mental
strain and it's Monday morning. You got to work all week.
You know what I mean? It's like I'm using an example
because you're saying you, but like, that's the thing for me,
it's like I wake up Monday, then like I have a business to run.
You work too. Some people do this as a living.
It's fine. Like that's all they do meme
coin training. But like imagine wake up on a
Monday burned from the Saturday Sunday you lost money or a round
trip and you fucking and now you have to go to work for five days
straight. Go back to your fucking nine to
five pissed off mentally burned. Like I think we need to talk
about this like this is crazy, right?
Most people would have round tripped this stuff.
I am even saying oh I missed it but hey I probably also would
have round trip and or done dumb trades.
Dude I would have sold jail so bought back jail so you know
what I mean. I'm here acting like I would
have treated it well God knows maybe I would have gone.
Fuck I lost 60K on Enron this week dude I I suck too sometimes
you know. Sorry, suck again.
So you know, so JLP, I'm comfortable I didn't picture
this. Mando texted me that he's buying
a fucked on a fart coin and then he posted by 5 minutes later and
I didn't even tell him that's how much I didn't want to buy
coins. You know so.
And you know, my love for far coin is deep.
So it's like, I'm like. A I'm like a proper community
member at this stage. Yeah.
Speaking of which, let's let's go through some of your more,
some more of your topics here. That far coin chart's not
looking bad, man. Don't want to call bottom but
hopefully we get there. I think real quick on far coin,
I think every one of these news stories like the CAR, like jail
stool, anyone who gets burned on it is like they're closer and
closer. Like I just want to buy far coin
and zone out. Like I I'm seeing that message
in chats and that makes sense. That's one thing parkour has
going for it. Is parkour going to revisit the
40 cent level probably one more time or two?
I don't know. I don't know how the near term
is going to. Play out.
Nobody wants to call bottoms here.
I'm not going to try to do that. It definitely is trading like
levered soul to a degree. At least that's what it seems
like. So probably they're going to be
dependent on Bitcoin and Seoul breaking out of the channel at
some point. But hey, hey, there's, there's
some green. It's it's doing volume dude,
like we said earlier, man like torrent something melon in 24
hours volume sex and decks like 120 of which on sex on decks.
Sorry, it's it's looking good. You know it's looking good
Anyways, what if I crashed out? Yeah, serious crazy.
Anyways, I'm getting a bunch of comments sorry and deferred from
the stuff. I actually was trying to get
Dave on the show today. I was like, yo, just get him,
get him on the get it, get him on the show.
And and you know, I'm still down on update.
First I want to have this conversation.
I'll ask him face to face like, yo, why are you taking us for
fucking morons? You know, it's like I think it's
I think it would be great. Anyways, Tyler, what else do you
have for us? Because there was truly more
stuff going on. Just Memco this weekend.
Yeah, there's better news like Mando kind of talked about the
Japan Financial Services. Thing that's very big deal.
So their financial services agencies, it's literally called
that their FSA is considering new rules.
It would classify crypto assets as financial products like
securities. This would require businesses
dealing with crypto to disclose it.
So there's going to be the rules of the road, but it but it
enables them to get in the door and there's a timeline.
So they're expected to announce performance by June 2025 S the
end of H1 here. Potential reforms could make
spot crypto ETFs more attractive.
So spot crypto could come to Japan.
Japan's economy, fourth biggest GDP in the world, tons of money
we know Asia has. I don't want to over generalize
but but has an affinity towards crypto.
It's a fair thing to say. So another, another big unlock
and we don't need to be deeper into this.
I wrote my newsletter about it, but 22 states, we've got
universities now University of Austin wants to buy in in that
quote. We don't want to be left behind.
That's the capitulation. End Quote, right?
Because like everyone sees the right on the wall.
All the institutions, the exact tweet that you showed from
Hogan, the institutions see it. They don't be the only ones left
not holding any Bitcoin if and when strategic reserve is
approved and the the biggest countries in the world start
buying and this thing really takes off without them.
Yeah, it. Really feels like the clock
ticking on when bitcoins going to explode like that.
That's kind of my, my read on Bitcoin.
And then just the the macro headlines just keep pouring in.
So, so that that was the the big news on the macro standpoint, I
think in the trenches, the pump fund store from Wu blockchain.
Yeah, so what's going on? So Alon refuted it right away,
claiming. That kind of like.
So let's see. Here, seeing rumors.
OK, so he said that these are wrong.
OK, so that's a refute. Yeah, I think he's hard
refuting. He's seeing rumors about a
potential pump font token. These are wrong.
Would advise not to listen to anything that didn't clearly
directly come from pump. The font, well, the PUMP font
team has been really been focused on improving the product
in this one year history. The team has always been
committed to rewarding its users properly.
Good things take time. And then your favorite AI picked
up on the fucking Wu blockchain stuff and started also reporting
on that thing that there's a Dutch auction coming for the
token. I would find it a little weird
if Pump funded a Dutch auction mechanism for their token
personally, but. I think everyone, so my read on
that part was everyone just misinterpreted the Wu Blockchain
tweet. So Wu Blockchain said Pump Fun
will release token, conduct public offerings and will adopt
the Dutch auction model. I actually interpreted that as
their Pump Fun platform is going to consider like a Dutch auction
token launch model separate from the, they're doing their own
token. So like two different parts of
the two things are happening in the subject that that was how I
read this. It doesn't really matter because
Alan has refuted it. But Alan in his tweet basically
says, hey, he's at least streaming people along that
there's going to be a token. I mean, he, he said that, right?
We're still thinking about how to reward our.
They're not. They're not walking it back, by
the way. They're not.
Yeah, we'll, we'll double down on.
It we'll double that trip, double, triple like they're not,
they're not, they're not backing down on this this statement, by
the way. Previously by ultimate use the
Dodge auction innovate token month.
So yeah, again the Dodge auction piece is separate.
So like does not, they're not saying that one will launch
ticker pump via Dutch auction. I think that would NASA.
That would be the biggest blowback in trenches history if
if that's what happened. I think these guys are smart
enough of that. I think the funniest outcome
would oh wait, they answered Alan.
It is almost the public fact that Pomfang plan to issue a
token using the Dutch auction inside the sexes.
Please. Calling him a liar.
Straight up call him a liar. OK, so they're, they're they're
doubling down that it is going to be a Dutch auction.
Wow. Auction team obtained the
detailed coins issuance preparation documents.
Whoa. That Pump Fund provides the
saxes. We can also publish with
permission. The listing staff of multiple
exchanges also confirmed to us that Pump Fund plans to issue a
token, but the time is indeed not determined.
So the token part, I think there's been rumblings even from
Pump Fund. The rest I personally can't even
me and me personally I can't even like it's not like I got
information on it so I can't even confirm.
It's wild. This is.
So if someone's listening doesn't isn't familiar with what
the Dutch auction model. So we saw this in NFTS.
Art blocks notoriously went this route where you effectively
start with a very high price and the price drops if people don't
pay it to where you get to like a fair market price.
But he's they're fully doubly down.
They even posted this on top of that, bro, like they're not,
they're not refuting at all. They're going with the story.
Hey, credits to them from a journalistic standpoint for
sticking to their sources and their story.
Yeah. So if they got the sources then.
It probably means they have some very, very strong.
This is good. I mean, I don't even care who's
right, who's wrong. Give me a puff on token baby.
You know what I mean? Fuck it, dude.
Come on, Alan. Well, the the people if there's
no AirDrop but just a Dutch auction, it would be total
chaos. If there's an AirDrop, you know,
also a Dutch auction component that's a little bit different
for me. Like I don't have a ton of pump
fun volume. It's like.
I don't have a lot of pump fun volume because a ton of volume
on pump funds like. Yeah, deep.
Because like far coin's a pump fun, right?
So I have like deep 7 figure volume on fucking pump fun
tokens. But imagine if imagine you're
rewarded for how much volume you've done on ticker pumps like
I. Think it would be on their
platform probably. But it would be sick if there's
a because even if you didn't use our platform, it's a pump funk
ticker that you've bought, sold, Alan.
If you listen to this, it's actually not very selfish.
It's quite selfless because I think we all relate that traded
pump funk tickers on other aggregators.
If you're listening to this Alan nice that'd be nice if he Dutch
auctions IC OS a pump token. It will be the other deeds mint
massive liquidity drain that will kill all markets.
I mean I mean the difference is that there wouldn't be any gas
fees really because it's Solana. Oh, there will be network fees,
but I get it. You know what I mean?
I mean, it would absolutely destroy every single meme coin
on Seoul. Like, you know, I mean, Tyler,
like if there's a pump token even.
Oh. Depends on how.
If they launched it solely via Dutch auction and there's no
AirDrop component then yes people would sell off memes to
to raise capital. Yeah, so Woben Bubba makes a
good point if you've played around the Hyper and the Hyper
Liquid. I was in the Hyper Liquid
trenches for a whole weekend a few weeks ago, so I'm like an
expert. It's a Dutch auction system,
Tyler, and it works awesome, but obviously it's not pump fun
level hype. So I don't know how it works
under such hype, right. But on Hyper Liquid that was I
had a lot of fun doing that for a whole weekend and then.
In other words, I've actually never done a token on via Dutch
auction. So like, like the prices starts
decreasing and then eventually, yeah, 100 million, then you're
buying it at 80 million, then you're buying it at 60.
Million, yeah. Yeah.
Interesting. We'll see.
I don't want to spend too much brainpower worrying about this.
It's because it's still unknown. Yeah.
True. True, true, true.
There's no probably. We don't even know shit.
So what do we know? We know nothing there.
Well, that was a move. That was a very busy weekend,
Tyler. What's so?
Everyone thought headed in on Friday was that if a Kanye coin
comes or a Portnoy comes, it's going to nuke the entire meme
market. And now it looks like Kanye's
not going to do a coin and. Port He's gone.
Kind of did his and the main marker is is fine.
So and we lost Kanye. Does his own now?
Like, I don't even think it'll be that big of a thing.
Who? If so, if Portnoy launched his
own now? I think it would be a big PND.
People will buy it, people will sell it because I think people
are just pissed off right now. Maybe, but I don't think people
would just be nuking all their bags to like.
Load No, I'm not chasing shit. I'm going to Paris.
I'm going to Hong Kong for consensus.
I'm I'm good. I'm happy for you guys to for
everybody to to have this thing. There was another news this
morning. Again, some open sea chatter.
Finzer refuted this one as well, so it.
Looks like it was refuted too. So we have OX quit for three
minutes ago but OK, so there you go.
OK, so hold on. He talks about the refuting.
So let me get this straight. If none of the rumors are true,
then you must believe that Open C set up Open C Foundation but
doesn't own Open C Foundation. The owner of Open C dot
Foundation could have fished millions of dollars but instead
decided to deploy a very on brand AirDrop site with
extensive turns and conditions like KYC processing.
Claim checker said owner again, certainly not Open C
subsequently took the website down, probably because they
realized their misinformation campaign was way too believable.
I'm sure the troll that owns the domain is now in talks with the
open sea Foundation to transfer to them rather, after which
they'll probably bring it back up.
So apparently open see the foundation was owned by troll.
See. Man, people really got to be
careful. Like between this and what we
just talked about for the last 30 minutes, Tyler think this is
a period where people really need to be semi hands off, man.
Like I say, preserve your capital.
Lots on the timeline lately. And some people mistaken that
for like a bearish sentiment. I could not be more bullish.
I mean, my name is Perma bull on Twitter on and on here every day
now, but it means like, just don't get burned.
Keep your soul. And don't get don't go signing
messages. So like I I saw people reporting
that website this morning. I chose not to because it wasn't
confirmed and quit is probably right.
Like this probably was a real site, but it's just not worth
like why is it worth being the first person to to sign their
wallet message on the on this open sea foundation site?
I think there's no point in that.
So let's wait for the official information to come out.
If it plays out like it looked this morning, which would mean
no US users, I think there was a like AVPN block of some kind.
KYC. There's going to be some push
back, I think, but let's let's see how it plays out.
OK, look, we'll see. We'll see what happens on that
front and there's not much else to cover.
One thing, one thing before we take off, I do have some some
good news for the audience. I have some, I have some news
for the audience is I am told given that I don't think I'll be
here. I I made there's like 50% chance
I'm here tomorrow, but then I'm not going to be here the rest of
the week. We're not hosting the show on
the 13th, I think because none of us are here.
Mando and I are in France and I think you've got some family
stuff to attend. And then next week I'm you guys
are going to host, but I'm out because I'm in Hong Kong for
consensus. So if you're at NFT Paris Ledger
events on the 12th, go sign up on Ledger's website.
I'll be there all day long. I'll be running podcasts.
I'll be vibing Decrypt, Ragrido and Myriad are partnering with
Ledger for that event to be super cool. 13th and 14th for
the awesome booth at NFT Paris. Come say hi.
Free coffee shot the ponds and the and the and the frogs there
for for hooking us up as usual. So some free coffee at the booth
by everybody else to come by 13th, 14th.
I'm doing a panel with looking ATS on the 14th, a panel with OV
OSF on the 13th or vice versa. I wanted the two.
And I'm doing a panel on Myriad with locks and Elance or
Keynote. So definitely come check us out.