Yo-yo, yo-yo, yo, what up? What up?
Good morning. Good morning GMG.
See Wednesday, October 11th, 2023.
Look at that. Another beautiful day to have a
beautiful day. I got both of my Co hosts in the
house yesterday. Was was was a little tete, a
tete between Mando and I. Monday was little Teta tet
between Ovi and I, both my boys in the house Ovi Mando.
Let me go to Mando first. How you doing Mando?
How's the weather in Portugal today?
What do you think? Beautiful day.
How many degrees? Degrees.
There you go. It's a beautiful day in
Portugal. Of course.
Every day. Lucky you.
It's still beautiful in London. Not gonna lie though.
Little overcast now I think my time of bringing the sunshine to
London has has gone it I I listen to the idea.
When you leaving? I'm leaving Sunday, leaving sun
Sunday morning. I'm out.
I think it's about time I go home.
I haven't been home since September 2nd.
You know, I haven't left. I've left for Korea.
Literally. Right after you leave it gets
colder. See.
Drops about 10 degrees whenever I go.
Whenever I go, you know the weather just goes to 0 and
that's just a you know where it is.
But you know, Last but not least, I don't want to go to my
other Co host whose special day it is today.
Ovi. Happy birthday baby.
How are you feeling today? Woo, happy birthday.
Do you? Like this.
Come on. Yeah, yeah.
Weird meeting. You mean that you know the very
well known CB1 beer birthday song?
I'm sorry, let me just put something more like, generic.
Like the fuck is this you and me?
That's better. More Happy birthday to you.
How does it feel Ovie to be one year older today?
I don't know. It doesn't feel that different.
It does. It feels a bit.
I'm 34 now. I just feel a bit weird.
OHS. Eyes ohh man yeah ohh.
Umm, yeah, I. Don't want to say so.
So yeah, 34 man, you. You're like you.
I could be your son. He could be my son.
Yeah. That's crazy.
Yeah. I mean, if you had been five
years old, Had you when I was 8885?
No, we're 55. Wait, dude, I'm the one supposed
to be? Better math here, you know?
But listen, one more year around the sun.
Listen, everybody, I saw over you last night, man.
Man is beef, OK? OV like enlarged, like he was
wearing his. He was wearing a shirt to the
Aspray event last night. Mando.
It looked like he was going to pop the buttons out the shirt.
Another on his stomach, around his chest.
OK, my eyes. Yeah, guys.
Yeah, yeah, it's pretty crazy. Whatever that zoomer guy is,
he's about to get wrecked for sure, bro.
For sure. I.
Didn't realise that he's actually been doing this thing
for a while, right? Like he's actually been
organising it. Is that is that right?
He's one of the Co organisers of the fight.
Yeah, yeah. Good or bad?
Like directly just doing it because he's like been doing it?
Or do you reckon it's gonna be like, really good?
It means he has all the inside information, you know, part of
it is all like mentality that knowing what's going on, he's
gonna let me know how things run and roll and.
He'll have, we have to do some videos actually of like
training. So he'll have access to the
training videos and stuff. So what?
Yeah, like they're gonna do it trailers and stuff.
So, like, I had someone come film.
Just like you should send, like, a shitty video, you know?
That's why I was drinking with my coach.
But as I just like. Throw 3 punches and like just
pass out something. Just like have you coached not
to town? Yeah.
Actually won. They want videos to see that
you're training and fit enough to fight kind of thing.
Yeah, WBC sanctioned. So you have to.
Yeah, so you have to like God. If I don't think this fitness
test, but I gotta send like blood test all that kind of
stuff like probably. Yeah, yeah.
OK. There's only so much you can
pretend to be shit without. Yeah, no, I get it.
I get it. It's definitely tough one
anyways. Anyways, listen, I want
everybody in the audience. First of all, retweet the space.
We're live on video, on audio, across all platforms, as usual.
As every morning. I want everybody at the bottom
right of the scene where you see that little purple box to which
Ovi a happy 34th birthday. Awesome.
There you go. There you have it.
You should have told me last time, like 12 people dinner.
But you know what? I'm gonna get you back and we'll
find a way to celebrate regardless this week at some .1
way or another. He didn't do it on purpose.
He just didn't wanna have some of the.
Attention, You know, just like you know what I would have done?
Like I would have. I don't know.
The attention game, but in boxing in front of like a
billion people on November 24th. And then the founder of NFT
project. And I'm also selling art
everywhere. And I speak it.
Scientifically when I'm going to Marfa, man.
You know dude, last night he was mentioning something about
Martha and his wife. Like, rolled her eyes.
It was so funny. She was like, you could touch
like, sick and tired of hearing about it.
Went to that thing, it's just come back and just raved about
it. It's just kind of a bit
annoying. It's that it's that good.
It's that good. I'm just gonna open a rug radio
motel now in Martham or buy land outside here.
I've been hearing rumbles a lot of people and T has been buying
land in Marfa. I'm just gonna open like a a
motel that's open like one weekend out of.
The door is gonna happen next year.
Loads of people gonna go. I wasn't really that good
because everyone hyped it up now from this year.
Probably. Probably.
Especially if you're like a raging like art blocks bowl
again or something that. But for per Mandela's tweet,
that's not gonna happen in front of seven years.
So we have time for that. Yes there was a great show for
those of you who want to catch up.
Anyways, today on the show today today let me get the topics up
for y'all. I just posted them out.
Market report as usual. When October.
We want it back. Knock knock.
October where you at? Topic 2.
Poor Caroline. Boo Hoo.
Caroline was a victim of SPF poor girl.
Polygon AIP to build a chain that came out of nowhere I found
interesting. Signed by you know Sandeep
actually. Wait, hold on.
I just put on my screen. No, I did not get we're good.
I and then gaming news a star Atlas came out of a long silence
and you know seems to have gotten a lot of traffic around
their their threat of course a lot of people bullish.
That's project I think launch about 2021 the bull market was
pretty popular so it looks like their game is ready and do some
other major news which I feel like we'd be talking a little
more if it was in the middle of bear market or or everything's
happening right now the conflicts going on right now but
Amazon. Amazon partnered with immutable
not not not nothing small here but anyways as usual this show
is powered by Kraken NFT check him out cracking.com/rug radio.
But anyways while we get this party started Mando movie what
is going on with this market every every time we think we're
getting someone of a bounce seems like we're bouncing the
wrong way. So what's happened?
Yeah, interestingly, macro has actually been OK.
Like stocks were up yesterday, they've bounced a little bit
today. Interest rates are valued
because of, you know, they tend to rally in.
Times of war. And you also had, you know, PPI
data today come out as well, Producer price index data that
actually came in. It wasn't good.
Yeah. And expectations.
On both core and the headline number.
So that's definitely a bit of a concern, but interest rates have
held in relatively OK. Weirdly, oil hasn't really like
you'd expect oil to rally and it was just actually down today
it's down back down at 83. Is that like the lows of the
last two or three weeks? So that's sort of giving licence
for interest rates to rally really, but.
Tomorrow we have inflation that will be, I think, important we
have CPI tomorrow. And then crypto.
I don't know. It's just can't.
Can't seem to rally kind of like every every bounce gets sold it
just seems like without like in terms of short term price action
I think everyone was like Ohh ETS ETS ETS and it's now clear
with all those delays that the first time we hear from them
won't be until January so. You know, it's kind of like what
And people there's just seems like there's a lot of tired
longs in the market, so. Short term price action is like
well, what can what positive things can you really expect
here? Especially with everything else
going on in the world, just feels a bit risk off right now,
so. There's a couple of things this
week I think we could hear from #1 is that by Friday they have
to give the grayscale decision if they're gonna appeal it.
So we'll know that on Friday. And then there is murmurings
that the Coinbase decision will be either this week or next
week. And Coinbase got an amicus brief
from basic couple of couple of well known law professors slash
lawyers came in and said that Coinbase was right.
They got back today. So maybe we'll get some positive
news that it does feel a little bit quiet I would say and
probably will be for a little bit here.
We. I don't know, like Bitcoin has
been holding up OK, but then it it seemed to be underperforming
over the last 24 hours. Actually, Bitcoin dominance has
gone down a little bit. Some of the alts have done OK.
That's kind of a key level though 27 Ki think if it kind of
goes below that then it could be a little bit weak for a bit, but
yeah, I don't really know. It definitely feels as though
old coins are in focus for for the last.
Week or so, Two weeks just given how much Bitcoin dominance come
up, came down, Sorry, went up. And now that Bitcoin is dropping
it, it's. That's maybe not the best sign,
I don't know. I don't.
Yeah, I feel like we're waiting. We're waiting for ETF.
We'll wait. We're waiting for school
positive. Get a bit stronger with with
what's going on in macro. I think macro if we get, if we
get, so some things you're looking at right now macro is
banks are looking terrible. So bank stocks are looking,
they're back down to where they were in February or March.
So remember February. March is when we had SVP, SVB
collapse. We had.
What's that West Coast bank? The Republic one?
Um. Anyway, like three or four banks
went under right over that period.
First Republic. Right, First Republic.
Bank stocks are back to that level and a lot of different
people are sounding the alarm, being like we're going to have
another bank run on a few of these because treasuries have
gone up, yields have gone up again, so the losses on bank
balances are even higher. If that happens, then I think we
do have a pretty positive scenario again for Bitcoin, but
it would probably be what happened last time in that you
have a dip because everything suddenly starts getting,
everyone starts suddenly starts getting worried about the
banking system again, followed by a rip because everyone
realises that. You know digital gold,
decentralised value is very important and the fact that Fed
will probably have to slow down. So I personally think that's
what could happen over the next few months just generally people
will start looking at bank stocks again and the losses we
had credit suite in Europe, we had four going on in the US.
Be very unsurprised if some of the smaller banks in Europe and
in the US start to show signs of stress again and if that
happens, and I think it's actually a very positive
scenario for crypto, but. Just like last time I reckon
it's one of those dip them rips if that happens, hopefully that
happens in office course like no signs of stopping or slowing
down in the Middle East at the moment.
I know we don't really wanna start covering stuff like that
on here. I think there's enough of it
over the timeline, but it seems like there's, you know, there's
things are not any much better. Slow down.
It's not going to happen. This is this is a medium term
or. To be around with us for for
months not not like days I was I was hoping that the other day
when some people are trying to get involved between Turkey and
and you know or Italy, saying that Egyptian media and whatnot.
I was hoping like a couple days ago that we go towards like some
sort of like a a a ceasefire. But after reading more today,
it's it's been you know, it's it seems it's like nothing's gonna,
you know slow down and of course like what would you want to buy
one of the highest risk assets in a time like this which you'd
figure that Bitcoin would do well in the time like this.
But we learned nothing from Russia and Ukraine that that was
not the case. So.
So I don't think, you know, that's my personal thesis.
But again, what do I know? And we'll see what.
Happens. I could be completely wrong too.
I just get. I get the feeling that this is.
Maybe now a full invasion there's probably going to be
hopefully humanitarian corridor but I don't think that's gonna
escalate not for a while. No, it's not great and we
absolutely actually hate to see it again all day on X.
That's about this the only thing that you can you can see on the
timeline and some people definitely milking the
monetization revenue out of stuff like that.
I I really sometimes I wonder where the where the line goes
here and when some people cross the line.
I don't know how you guys feel about that.
I don't really want to talk about it too much, but I just
think it's. Just talk about a love on
Monday, right? Like it is kind of wild how it's
become. Everything's a bit.
Socialise. Everyone wants to milk it, but
on the conservative side as well, right?
Like, I'm not trying to throw shade, right.
It's like very, very deep conservative side of things,
right, like. Yes.
So I think you don't put out a funny tweet yesterday, which is
like. You ohh, two weeks ago you were
claiming that you know this was the ADL or after me and then now
it's like this is pro like Israel propaganda.
Yesterday you saw if you saw like the command, Kimani Hill
Kamani, who's the Itola in Iran? And Israel, the Israel Actual
Twitter account replied as well. So, like, there is, yeah, wild
this guy, right? Yeah, yeah.
If you go down 11 hours ago, this.
One No no no Ohh. He wouldn't be. 22 The 22 hour
one Yeah, click on that. I'm sure, Israel replied to this
tweet. How?
Maybe replies. But this is just so crazy, dude.
Like. I thought that was wild, like to
see that being that the actual dialogue between the two of them
trying to find the sweet you're referring to, but.
They definitely did. They definitely.
Ohh maybe they deleted it, I don't know.
Maybe like? 100%, they replied.
Ohh, no, it's here, It's here. Or is it?
No October? Yeah, yesterday.
Wow. Jesus Christ, man.
So bad. That's wild.
Wow. OK, so this is for those of you
see on audio. It's a it's a tweet from the
Ayatollah Khamenei was the supreme leader of Iran.
I I hate that guy. But anyways, saying stop.
You're obviously coming at at at at Israel and what's up and all
that stuff. And then Israel, the actual
country. We're applying the official,
right? This is the official.
Yeah, it's one saying it's easy to be brave when you're hiding
behind a keyboard. You and your Hamas friend will
regret your barbaric actions. Very holy shit.
It's not just any answer, like word forward.
You and your Hamas friends will regret your barbaric actions
very soon. Period.
Yeah, to be clear, like these countries have never had
dialogue. Israel, Israel has, has had
dialogue with most of the rest of the region.
But like, there's no dialogue between Iran and Israel.
She gives me shivers, man, like I it just.
Doesn't like to father they're talking over acts is kind of
wild look some of this stuff is like you get both sides of the
coin is basically what I brought this up is that you get free
speech you get sensationalist. The idea that this shit is
happening is is this would this wasn't happening before right.
This was not happening before, so I think that's a.
Interest. It's going to be an interesting
platform to be over the course of our lifetimes, like the wild
stuff that goes on, right? Like they're very, very keen on
making sure you don't ban accounts.
I think the EU went after them today for spreading
disinformation. But in general, like we've seen
the Taliban on Twitter. You've seen, remember there was
a lot of heat, that comedy was on Twitter when they banned
Donald Trump. Like how how those two things
worked out. And now everyone can basically
come onto Twitter as long as you're not.
Um, obviously inciting like terrorism or stuff like that,
but the. You're gonna see some wild
dialogue, I think, over the course of my lifetime between.
Between geopolitical enemies? Damn.
Almost racial. Them too.
Actually. That's wild.
That's dude. That's why I did not expect to
see that in this timeline. It's insane.
Wow. OK Anyways, you shivers because
like they're replying to each other's tweets and on the
battlefield like just just like so many people our age just like
having to fight that fight, go to war.
So I just hate seeing that. It's just been horrible watching
all these scenes. It's almost makes you not want
to tweet. Like, I don't know you guys, but
I know we were talking about this and I know you did say that
the first few days you just like kind of didn't even want to put
anything out. Just, you know, I.
Didn't say anything. Yeah, I was ill, but I didn't
because I just didn't feel right.
I feel like I my personal view is this is gonna go on for a
while now. So I think you can't just like
not tweet or after reading this last one that you just
mentioned, I tend to sadly agree with you.
But again, we are not geopolitical experts and we're
not gonna brand to become that either here at Rock Radio.
So maybe, fuck, maybe you will with demand of minutes.
I mean, the man of minutes. Maybe you're going to become a
geopolitical expert. It's like Kelly's job.
Yeah. What qualification is
geopolitical expert like? What would you want to see?
Someone who has a degree in a background in history,
especially in history of the region in the Middle East?
First and foremost? Second thing someone.
Who people do you think actually have that call themselves a lie?
Not a right, Not alright, actually.
Not a lot, actually. There's really not a lot of
people that have that, But someone who actually, like
studied something, right? Or or understand.
Or maybe someone who like, actually went to a lot like,
studied elite law and like actually finished and like is a
lawyer. For example, you know, but no,
definitely not Mario novel, you know, I mean, like I'm trying to
say like or like some of the other like Twitter spaces,
you're seeing that on the back of him and stuff like that.
You know, like he's still like selling at spots on his Twitter
space covering the Hamas and like the Israel war, you know,
so it's it's just none of it's just right with me.
Yeah, you got two sides, right? People and I'm sure listen I'm
sure I'm sure there's two sides always right for for these
things but just super weird when when I see something like that.
Anyways that was not part of the topic and I don't want to go
deeper into that the 2nd and that was kind of the the bigger
news of of the day yesterday is on the FTX side.
So as you all know, the trial is happening at the moment and
Caroline take the photo, Caroline takes the stand and
that's a quote from Caroline herself.
He directed me to commit these crimes.
Yeah, Caroline is out there claiming the SBF directed her to
commit all these crimes when there's like an absurd amount of
content online. Even this like podcast interview
of her like laughing, saying that remember the video of her
saying there's no stop losses and they don't use such things.
And how like she shouldn't talk about like the immense amount of
loss that they've had or like talking about their affair or
whatever. So Caroline seems to think that
she's done nothing wrong. Procedures riding out on
everybody and everything and and it's taking a stand.
That is actually the caricature from the trial yesterday.
They really did it wrong. I'm not gonna lie that whoever's
the artist is over there really did it wrong, but she really
meant those. It would be great.
I'm sure a lot of people would buy them.
I'm not going to lie. Would you guys meant like the
trial images from something? I I totally would.
Personally speaking, that's that's a wild shot.
That's a tough one. It's a real one.
You. I thought in US courts you could
have like cameras. So this, yes, you can.
But this specific trial is not to be televised and you, you
can't. So there's people that are
there. So, which is what I wanted to
bring up. I'm going to share my screen now
with Tiffany Fong. She's been going every day,
right. And she's kind of been like
covering what's happening in court because actually the media
is not allowed inside the court courtroom for this trial.
So there's also this other Twitter account like inner City
press. He's always around.
But so that that's the, that's the, you know, the the mug shot
that they put of her. I don't know if you saw this
meme. Elon responded to it yesterday,
kind of wild. And this is a clip.
So listen to me. Listen to this for 30 seconds
and tell me if this sounds like someone who was directed to
commit crimes. Pull it off without my math
degree. Use very little math.
Use a lot of like elementary school math.
Being comfortable with is very important.
We tend not to have things like stop losses.
I think those aren't necessarily great risk management tool.
Trying to think of a good example of a trade where I've
lost a tonne of money. Well, I don't know.
I probably don't want to go into specifics too much with that.
Yeah, absolutely could pull it off without a.
Math. Degree.
What the hell is this interview like?
There's a guy and another guy with a flat cap sitting there.
Or either side of her is about risk like.
Who? Type series got the FTX had on
over here who like have all the interviews you would also do
Like what the hell is that podcast?
Someone needs to direct you to it.
Random looking podcast. Something I've ever seen.
Hey though it's so funny it's ohh those two asking her about
risk. I think I I forgot who it was.
I think they were FTX shows. But remember this tweet also CZ
Binance, if you're looking to minimise the market impact on
your T cells, will happy buy it all from you today at $22.00.
I mean look I'm not a I'm not a judge, I'm not jury, I'm not a
lawyer, not a legal consultant and counsel but it's it's just
sounds insane And so Tiffany Fung has actually been there
giving us updates. So yes, Zanzibar shots by
Venture telling us you're not allowed cameras in federal
courts. So there's a lot of press there,
but they're kind of like live tweeting and everything.
So Tiffany Fung has been going and she claims to have like 300
pages of like personal documents that were sent to her by SBF in
the time that he was in in in house arrest.
And so she has all the updates on what's happening with
Caroline. So you guys can go, you know,
obviously check by herself. But she said Caroline Ellison
kicked off her testimony admitting she committed
financial crimes, fraud, conspiracy to commit fraud and
money laundering by defrauding FX customers and lenders to.
TXN Alameda so that's that's what that's what she started out
with and obviously like there so she know she's been covering the
whole thing and she claims that that that FTX so that Sam
Bankman Fried actually directed her to commit these crimes.
I mean Mandovi, what do you think like based on the things
that you know we I've just read for you all and and that you've
just seen I got do you think that Caroline is is a is
innocent in that FT and SBF was the only person in the room.
Meeting these these crimes, I don't think Caroline, thanks to
the innocent man, I think she's basically admitting guilt as
well and using that well, she's clearly gonna get some plea
deal. I hope she goes to prison.
She cleaned what was going on. I think it's fair to say that
like SPF was probably the ringleader in all of this.
Like, I don't know, like to me it feels like he was the
originator of Alameda. He was the clearly controlled
the back door between the exchange and also the consistent
lying in what he said versus what he did.
Just like, you know, there's that thing like if you see a guy
cheat at golf, like you just don't go into business with them
because they probably cheating about everything.
Like, it just seems to me like he was just a pathological liar.
So I just don't. I feel like for me he was
definitely culpable. Caroline 100% guilty.
Like she should go to prison for a long time.
Like she knew. All of these people are not
idiots, right? It's not like, Oh my God, my
boss told me. These are probably like 120 IQ
people who knew exactly what the hell they were doing, all the
risks they were taking. And then they just thought, look
at that. Get away with it.
Yeah, I mean, you know what's crazy is that and and I'll, I'll
share my screen again here because Martin Shkreli, right,
who's obviously been through the system has also been commenting
a lot and he was actually pointing that out that she
actually was, she got in through the door.
So this is a video of Caroline. Yesterday and on the side door
from what it seems and he says going through the secret
government side door where rats get dramatic.
Dramatically dramatically. Ohh, he speaks my English real
quick dramatically dramatically reduced sentences and and he
goes is it time to reform criminal justice where three or
four core criminals get dramatically reduced sentences
for doing the right thing and the one person who exercises
exercises their constitutional right gets slammed.
So he was he was talking about this, so it seems like.
Obviously, like she's cooperating.
It seems like she literally entered the the side door where
like government informants get to get to enter from.
So all of this is actually a pretty crazy ohh.
What do you think about the situation and what do you think
also about the fact that? It seems that SF wanted to
become President of the United States of America.
I don't know. I think I like, like, Michael
said, all these people. Caroline, Sam, the other Sam
Trabucco like they're all. Extra Jerry Wong or something.
Yeah, Gary Wang, who's the CEO of FTX or CFO, These are all
very smart people and I think they're just knew full well what
they're doing, but. What's also clear to me and by
the way, especially how Caroline speaks, is and they just got a
bit cocky, didn't they got a bit arrogant.
They're like, we're really smart, we're smashing it and
we've just got like got some kind of like cheat code to do
all this stuff and you just know that they got complacent.
Risk. Risk.
Conduct, conduct and yeah, yeah. Going by the way, Yeah, I don't
know. Not for me, but your volume is
lower than than it than it than it was just wasn't going to
stand. But I mean, maybe it's maybe
it's gone there. Yeah, I don't know you got
rugged earlier and maybe go to audio and put echo cancellation
turn it on and then high resolution audio turn it on on
the restream. But you know what It's so this
is a quote, right? So by the way that inner city
press account that I was talking about, you should follow them
because he's always like the guy that like covering things like
that at all times. But he goes, Ellison, we started
sleeping together on and off in the summer of 2020.
We dated and broke up, the attorney general said.
What did defendant tell you about his ambitions?
And she goes that he would be president and then he goes of
what? And he goes, she goes the United
States. And so and so it seems like SBF
was so delusional. And obviously we already covered
on day one that he wanted to apparently pay Donald Trump $5
billion to like not run, yada yada yada, wanted to put all the
money in the world possible behind back in the fact that he
doesn't win and whatnot. Apparently he was so delusional
that he thought he could even potentially one day become
president of of of the USA, which is absolutely wild.
And it's just like, man, it's just crazy how much information
we're getting out of it. Like another question where they
were asking like when did FTX? Save money into Alameda's bank
accounts. She goes 2020 and into 2022.
N Dimension was the name I was aware of.
And then they go, how much FTX money got deposited with Alameda
and she goes 10 to $20 billion. So.
Yeah. It's a it's really crazy.
I'm not gonna lie, 10 to $20 billion.
And then they said what I made to do with the money.
Repay loans, investments and stable coin conversions like
USC. That was about 2 billion.
What happened? The rest it would use for
Alameda's purpose and other purposes.
So listen, the threat is very long.
I'm not going to read it all for you guys but it's.
I'll just retweet it for for anyone who who wants to see.
But there's like, it's like a massive, massive, massive
thread. That started October 2nd from
Inner City Press. Like, there's like hundreds of
tweets at this stage and they're just covering the entire
situation. Do you think so there was there.
There was an interesting thing, I think so creamy yesterday.
But he came on and was like, people like it's bollocks
because he was bearish on Bitcoin.
He was like Mr Bitcoin. Essentially SBF is about to go
down. So how can you be bullish on
this when everything looks like a scam right now?
Like there was something from some DEFI heads.
I forget maybe it was Hayden Adams or someone else who
basically said like, the overhang of FTX was starting to
be forgotten. Now it's going to bring
everything to the front. It's going to make everything
like a scam again. Do you think that's partly
what's causing bearish crypto sentiment right now?
Just like why would you get involved when this is going on?
This looks bad for us. It was also that Financial Times
article right that came out the other day that made a lot of
noise regarding the crypto and the entire industry being fraud
and they were just naming like mainly it was because of SBS.
So to your point like it's already started in terms of the
fraud from the massive from the mainstream media.
But personally speaking like I, I I don't think this is what's
causing overhang given that there's like the whole last like
war on the other side of the world that could potentially
involve like almost or indirectly involving like the
entire planet. But or maybe you know more than
me like do you think this is something that's also causing.
Definitely in terms of like the branding of crypto, it's very
bad for us. Like for sure I agree, but I
don't know if is that enough to like.
Keep this market solo. I don't know, I kind of I I I
guess I answer my own question, but yeah, I don't I I think now
is probably an opportunity to buy if that's the reason why
we're going lower because that will depart and it's good that
we got rid of him, right. Yes, exactly.
It's definitely really good that we got rid of SPF and I hope
that he ends up in prison for the whole 115 years or 150 years
that he's facing. It would probably help us a lot
actually would help us a lot if like in that light of that like
case, like the outcome, right. That's the most important like
he gets a massive like massive outcome of him going to prison
for how many years and then crypto resumes like like as
usual and things just get better.
And then you know we go into hopefully what this could be a
bill bull market but. Anyways, we'll we'll see if
that's the overhang, but it's tough to say with everything
going on in the Middle East like we were talking about earlier to
see what the overhang is. But definitely doesn't help
anyway. So in other news, in other news,
obviously still in crypto because that's what we're
covering. I don't know if you guys saw,
but quite a big PIP came in through through the Acorn Dow as
Polygon proposes ape chain implementation via AIP.
So they're proposing a new chain, right?
And that would be developed on using the Polygon?
CDK focusing on ease and modularity, they wanna
collaboration, they wanna collaborate with the ecosystem,
right? That is Polygon Labs ecosystem.
Obviously they would need like funds.
So that's what they're asking for and and you know they would
need to like migrate Acorn to an to another chain and obviously
this is completely like separate from like Yuga Labs as Itcoin
DAO is like a separate entity, yadda yadda as you all know.
But as a quote from Sandeep now while the co-founder of Polygon
Labs that you'll probably have heard of or no, he says as a
result, by virtue of Acorn DAO gaining composability and
interoperability with the entire modular suite of Polygon
solutions, the Acorn ecosystem will be primed for tremendous
growth. So number wise and you know,
shot lucky trader for putting this pretty easily out there,
they're saying Polygon is seeking $200,000 annually.
Honestly doesn't sound like crazy to help.
With implementation and future growth.
So now you have to go through like like what's going on?
Like you have like a doll, like regular dowel stuff like you
have to go through like a regular AIP process, blah blah,
blah. Assuming that's gonna get
approved, which I think is gonna go through and then you have to
go through the downvote. So this is not where you all get
to vote yet or debate on it. But what do you think like does
a coin needs its own chain like, I don't know if you remember and
you probably do like after the whole like $100 million like
scandal with the the fees like Yuga Labs went?
Right ahead to like tweet about like wanting an 8 chain and the
need to build an A chain, a chain which caused like lot of
conversation, a lot of fun on the timeline, right.
Like given that $100 million with burnt during the mint of
the other side, but what do you think like bullish or bearish on
like is this something that vote for, against or against if you
were still like part of the ecosystem?
I don't really see what the use. For a change would be like maybe
it's an in game kind of thing which makes it speedier and
fast, but there's so much other technology out there, existing
tech that you could theoretically use.
So I don't really understand what the.
Use case for it would be. I think it would be to do with
the Metaverse, right? But like, why?
Why not just use the existing technology out there to build
on? Like why just make everything
and so it I think it would just be an L2, right?
It would it basically built automatic.
So for example base is really built on optimism that basically
trying to do the same thing with for here I I guess it's it's the
the difference is marginal between like doing it automatic
or just using their tax tech as a SDK.
I think yeah maybe they could just do automatic.
I'm not surprised. It's Matic by the way.
We were 8 fests and they were sponsoring it there and they've
been causing them for a long, long, long, long, long time.
So I think this was kind of obvious that they would they
would go down the route of some sort of L2.
Yeah, I think it's strange that they are doing this.
They are the only people to submit a proposal.
Because if I'm an L2 right now and there are tonnes of them, I
would expect there to be like 10 different proposals right now,
right? Imagine if you're Arbitrium, or
your Gsync, or your. Optimism Looking forward though,
I wouldn't be surprised if they do actually.
They should all try and they should all try and do this.
So like, one thing I would say about this is I wouldn't just, I
don't know what's happened, AIP. I wouldn't just accept it
because Polygon put it forward like you could do it.
You could do this with lots and lots about L twos and maybe get
a tonne of money to do it, like Arbitrium is giving out $50
million over the next few months.
Wow. Take that.
It's gonna get out millions. Optimism is gonna give out
millions. Why not?
Yeah, no, it's very interesting, right?
It reads. Polygon Labs proposes that Acorn
Dial develop and maintain its zero knowledge powered layer two
ZK L2 with the Polygon chain Development Kit CDK to
accelerate the growth and development of the ecosystem.
Such an endeavour would include 1A dedicated Acorn ZL2 chain,
built and maintained by an implementation partner that
builds web, three infrastructure and tooling products to
ecosystem collaboration with Polygon Labs 3A Development Fund
from the Acorn. Our treasury to help stimulate
the growth of Acorn integrated projects.
So like experiences, entertainment, games and
consumer application, the ancient related public goods,
middleware, marketplaces and necessary infrastructures.
The details of the proposed Development Fund are outside the
scope of this IP but can be found in a subsequent AIP on the
title, AIP idea blah blah blah. So it seems like this is going
to be the start of a series of IP's to build on Polygon and to
move it there I think like if you ask me.
From a marketing standpoint is genius with Sandeep did to do
something like that right. Like we're talking about it.
I'm sure every single person in their mother who has a Twitter
spaces show that it's still talking about NFT's in 2023 is
going to be talking about it. But it seems, you know here look
they've made it very clear, right.
They have the value props here just seeing security, low fees,
share liquidity being one of the biggest reasons to become a
thermal two is to gain access to deep liquidity.
This will allow users and developers to seamlessly
transact or move across chains and then customers.
Customizability and find these words, dude and
interoperability. You have crazy words in crypto
family. Swear to God you guys put my
English to test every morning. Uh, near instant withdrawals and
fast finality and a whole lot of other big words.
And so Henry Leo here, Sorry Harry Lee apologised for that.
You know, very Simply put, you know everything says that the
benefits are experiencing ability, low fees, enhanced
security interview and then estimate completion would just
be 14 to 16 weeks. So not that long.
And. 200K or only for deployment and maintenance Sounds cheap
enough for this to go through. I've seen some Wilder proposals
go through right. They did.
The $11 million proposal just went through for the buybacks
and everything. So honestly, man, they're like
you're right. Like the other altitudes should
hurry up and put something out. Unless they don't want to be
involved, but this seems very feasible, huh?
I think it's cheap, but it's also a massively big deal for
for Polygon to get something like that.
So I mean the boy names is still like.
Arguably one of the biggest, one of the biggest like PFP
ecosystem there is like you have still one of the biggest, the
biggest NFT company there is out there.
And I think after you've left obviously that probably took a
lot of like you know, attention out of like the PFP, like
community, core community, like things like traffic.
But it's, I don't know it's, it's interesting and I guess
we'll see what happens. I'm curious to see why people
think like mostly like people are still holders of the club
assets. Like what do you guys think
about this being? Bullish or bearish, but feel
free to put that in the comments Anyways, Next up, Next up
actually some really big news on the trade arts on the trade art
side and speaker trade art, obviously overnight yesterday
with the Asbury Studio event for the opening of Frieze London,
which is I guess one of the biggest art fairs in the world,
right? Correct me if I'm wrong, but I'm
pretty sure the London one is one of the biggest, if not the
one you know, It's really, really big and it was quite a
mix of trade and digital art. I really liked it.
We saw Sam Spratt's work being exhibited.
He faced DK. What was it?
Orcon was there. And and a few other little kayak
and a few other digital artists and whatnot, which she loved to
see. And what I love, dude, man, they
should have seen. I think they went into kind of a
heated debate at some point. It was like Flag Ginsburg of I
keep freaking blocks space. Damn it.
I can't believe I'm blanking on this on the company name.
And then and then and then you had Benny Red Beard who we love
was arguing with like a woman. She was like she's like the top
top top like editorial person when it comes to trade her like
she's written books and shit like she's like the Jerry Saltz
like, but bigger like like female version like even bigger
and whatever. But anyway so that that got
pretty that got heated pretty quick.
But what I love that Benny it opened his speech with don't
hate me by the end of this of this stage of this panel for
defending digital art and I thought it was really good.
But you know to Benny's points yesterday and I think this
probably backs him a lot. The MoMA, the Museum of Modern
Art acquired unsupervised from Rafiq Anadol.
So as you all know, like you know the exhibit at the moment
was massive right. Like it was one of the most
popular. I think there was a statistic
cause like this crazy at the moment has this technology where
like they can actually track like foot traffic in front of
the artwork but also like how long people spent in front of
it. Right.
And I forgot the stat and I was talking to the one of one guys
in the in Zook. But like it was an absurd amount
of time like that Rafiq's piece was actually being consumed by
people going into into the MoMA and like watching it.
It seems like they've doubled down.
So we covered the moments postcards drop last week I
believe like with a bunch of artists that you are familiar
with. But last night the news came out
and obviously it was Pablo Frell who has like a champion of of
crypto art. You know, I think he was the
first person to buy like people's pieces like before the
$69 million sales. And he recently bought, wrote an
article about it, a thread about it.
Legendary, like digital art collector, literally like super
legend. Also like icon.
Like if you guys have ever met him, but like super humble and
like awesome freaking guy. But he goes with immense joy and
a profound sense of honour. I announced the acquisition of
Refik Anadol's machine hallucinations MoMA by Museum of
Modern Art. This pivotal moment has been
made possible through the generous contribution by the RFC
collection led by Desiree Casoni and myself, alongside one of one
art spearheaded by Kukula bans. This acquisition not only marks
a grand milestone for a fixed, remarkable journey, but also
inscribes A historic chapter in modern art as MoMA welcomes the
first tokenized artwork into its esteemed permanent collection.
Because as you know, museums are not allowed to, like, sell
pieces like once. It's not, It's not like they're
trading those, right? So once it's there, it's pretty
much going to be there forever. Ovi, let me go to you.
I mean, you know, did you ever believe like, oh, this happened
so fast because this is happening pretty fast.
And what do you make of this this news for MoMA?
Because pretty big and and the pretty big week actually for for
trade arts in general. Yeah, it's huge.
I mean finally the murmur owns adapt knowledge and.
It's a great one at that. Rafiq, I think is probably one
of the biggest artists in the world right now, Not just in the
space of digital, but art overall and.
It's great to see that someone of that medium can achieve the
same heights as any other traditional artists out there.
So it's just it's really awesome to see this incredible yeah it's
pretty wild man. What do you what do you make of
all this like and you guys you guys ever do you guys have a
Rafiq at all You're by any chance in your.
Collection I wish we did. I wish we did.
Wanted to get work very early on, but they've started going
for incredible amounts very, very, very quickly.
It looks like the floor of The Winds of Yano Wanna Have is up
to like 70. Even after reveal.
Yeah, he's a massive artist. He's gonna be a massive artist
for the next 20 years. Massive mass.
I mean we you you. I know.
I know you guys have been. I mean we've all been fans for a
minute. We had Rafiq on early on in the
show. For anyone curious like just go
back on Jim. What Just cool.
Like Jim Web three were for Canada or something.
We had a sick interview with him once for like an hour.
He's also like the funniest guy. Like he's like so kind.
It's like he's such a fun guy there of you.
Yeah. And I think we've had him on
twice. We also had him on for his
Instagram. Remember Instagram?
Remember Instagram doing NFT's. But but he did a he did an
Instagram and F2 with them. But yeah, the the the winds of
Yawanawa are now at 7.9 eighth. So even after revealing whatnot
and they're still going. But yeah man, it's actually
impressive. Like I said, like I was in
Singapore, go to the Orchard Mall which is the famous, like
strip of like all the mega malls there is there.
And like the first thing I saw was like a gigantic Rafique
piece. Like guys, it was huge.
I can't even, it's probably 30-40 metres high.
Like it was massive and I was like, wait, that's a Rafique.
Look at the wall and they're explaining the whole thing about
Refik Anadol and his journey and the whole thing and everywhere
you go. And the week before that in
Korea, 10 metres by 10 metres was a piece of mental health by
Rafique, like on a massive screen.
So look it looks like Rafiq is the the you know the chosen one
right the big artist to to to really breakthrough and it's
amazing. It's amazing.
You obviously love to see it and Congrats to our friend Rafiq
Anadol hopefully we can get him back on the show soon to like
kind of like I cannot unwind all of this because this feels like
he's been on a he's been on one for a few weeks and months like
he you know it's been it's really been popping for a minute
now it's really cool in there. Obviously I got to personally
meet the the one of one you know a team that collected his last
one that they had there was therapies that was at the moment
and they made it happened you know Grinders group and whatnot
and you know they're very very excited about this and I know
that they were really like important to like making this
happen. So you know art is having quite
a moment I, I, I, I follow Roger Dickerman like daily tweets
about like specific the crypto art space.
So I read the man the minutes and I read the Rogers like just
because he does only art you know.
Yeah. And man, Benny's been running
about a lot like arts, really having a moment, and I felt it
in the room yesterday. Did you, did you feel that over
a little bit? Like it felt like really?
I don't know. It was kind of it was really
cool to see everything together. Yeah, I think it was.
I think it was. It was just it's just a it's a
nice space and I think stuff is displayed in a good way and
people are just there because they care about art or they
appreciate it. And it's, you know, you have a
different appreciation for seeing things in the physical
format than just on your screen or your phone, like we saw
Defaced Piece yesterday. So the the, the large print of
it and that was like an insane to see you.
So it was really cool. I liked it a lot.
It was super cool Mando so the piece that remember when we
hosted defence not long ago and so he was there himself and
Benny was there. So Penny ended up winning the
the the bit and so they printed it out like it was about this
big and this tall but the IT was so crisp.
I need to ask them how did it to print it out so well.
Like the detail was crazy and then defects grabbed the pen and
signed it on the spot and it was really wholesome.
I should post video was like 2 Benny in front of him and then
sign sign the piece I thought was really cute and it was just
awesome. I think by the way orchids piece
like sold when we were there. So it's a it's really cool to
see. It was a great mix of like
$1,000,000 vases and and like art from all our homies like
there was a Joe piece. Jake Freed.
I see Jake Freed down there. He listens.
Every morning there's Jake friend's piece that was that was
there. There was a Joe Pees you Treta.
Of course the 7th trait was already there, was there as
usual. And then so the crypto punk and
then a bunch of other pieces, but like shot to aspray and I do
want to give a shout. You actually been to the actual
freeze? Some Regents park.
I meant to go now. Like in I was meant to go 8
minutes ago, but I was I was going to go.
Danny just went and sends me videos, but apparently packed
dude. Can I read that?
It's very trader. A lot of very.
It's very. Old pieces and should I go?
It's like, it's like it's. It's there's like a masters
section. I mean, I've been this year
obviously, but I went last year and it is kind of a it's an
experience. You definitely do.
OK, well, I'm gonna. I mean, the second I'm done with
the show, that's what I'm supposed to do, actually.
So. So I'm gonna, I'm gonna, I'm
gonna rush there. So you know what let's just run
over to the last topic so I can go last topic to the gaming
again. Gaming.
Hell yeah. It's almost like we've been
saying for a long time. Like gaming Web 3 is gonna
really, really take off. And as I'm saying this, I'm just
gonna quickly send an invite out to Jonah Blake if he wants to
come up and and break it down for us quickly.
So you have massive news. I mean, I think it's massive at
least the headline is. And correct me if I'm wrong, but
Immutable and Amazon. So Amazon Web Services and
Immutable are working together to shape the future of gaming
and it reads. Through our collaboration with
Amazon, we will gain access to a vast pipeline pipeline of game
studio leads, support for successful deal closures and up
to $100,000 in AWS cloud credits per Immutable customer.
When data from the cloud is validated on the Etherium, A
viable model for blockchain gaming gets realised.
Immutable has joined Amazon's ISV Accelerate programme.
I mean, man, this is some pretty big news, right?
Like Jonah, am I like overdoing this, or is this as big as it
reads? I don't know if it's the.
Biggest thing ever, honestly. But it's pretty good.
Yeah, of course, Jonathan. Well, well, I mean, like I I'll
tell you why. I mean, like does it say it's an
exclusive deal? I don't know.
I don't think well, well, well, well a.
WSR has a deal with Avax as well.
They do and. And Amazon would never sign an
exclusive deal with the chain unless they mostly owned it.
Because people don't realise that AWS is like probably the
best business in the world, and because you service everyone
with the with your server tech, that also means you have access
to everyone's data on a pretty deep level.
You know everything down to which you.
You probably have more data than pitch book in terms of how much
money each startup is making, because each startup is usually
given a WS credits if you're. Pure viable startup.
And that also means that you give up data to them for those
credits so they have the best research business in the world.
They know. They know what's being built
before anyone else knows. Wow, that's pretty wild.
Well listen, Robbie Ferguson, who I believe is the founder.
Yeah, co-founder of Immutable tweeted out, thrilled to be
finally able to share this. We're partnering with a WS Cloud
to make it ridiculously easy to build web three games joint go
to market plus streamline the 100K in free credits for games
building on our platform. So it's not bad.
I mean it, it reads. It continues.
More than half of all funded games in the space are launching
over the next 12 months. Google Play and 3rd party app
stores are opening. While experience is approaching
Web 2 seamlessness, the Japanese PM has literally called Web 3
gaming a national priority. That's why I didn't know that
about Japan. But Japan once again just being
ahead of the curve. Honestly, I remember them, they
were testing with dollars early on this all happening.
So I guess bullish on Web 3 gaming and a lot of stuff going
on, you know, doing that, you know the headlines.
Bullish, right. So I wonder how gay.
Yeah, yeah, I'm not, I'm not bullish.
I just want to provide. I just want to provide context
that like. You know, a lot of companies say
a lot of things and like it's important to know, like what
that can mean. Like unless it says this is an
exclusive deal, it's very good. But it doesn't mean it's one of
those things where a game goes, Ohh, that means we have to work
with the mutable. No, no, of course, no.
That means and. And by the way, if your game is
really good, you can just go to them directly and they'll give
you the credits directly. Yeah, listen, I'm sure, but if
you're trying to be on the Mutable, if your builder, you
can get $100,000 in grants and if you need that, definitely try
and try and get that mandovi any thoughts on that?
Move forward to to start listening if not.
But it seems like that was pretty well-rounded up.
But the other news was OnStar Atlas, I remember Star Atlas
2021 like pop, like I actually remember trying to pick up some
of their tokens early on. I wonder how that did overnight
maybe Linda you know that but building and then it's, it's
seen as one of the. Shining lights, potentially of a
resurgence of Solana. If I'm on this, yeah, they've
got a lot of money to build it. Yeah, so they go build, build,
build. It's been a busy month at Star
Atlas and it's easy to have missed something.
We got you covered. So they released Sage Labs, an
early access 2D browser based game built entirely on the
Solana blockchain. It offers real time gameplay
with the focus on exploring, extracting, scanning and
crafting. There's a thread about it, you
all can go read it, but some statistics. 16 + 1,000,000
Solana transactions, 15% of daily Solano transactions, 2
million daily transactions, 8500 profiles created, 37.6000 fleets
created mando. Seems like you've looked into it
a little bit. Like do you have you have you
dug in a little bit to start listen in the ecosystem?
Well, they have this new game, basically.
It's obviously not the full game, but it's doing the most
amount of transactions on Solana right now.
Along with the social platform. It's doing more transactions
that all of Polygon I think I saw.
I saw that too. And the way that Solana works
obviously is like it's everything's on the line,
there's no two, so it can really drive a lot of gas prices there.
I I think it's a proper game out of all the games coming.
It's AAA game. This is obviously you often have
these like mini playable games before the main one comes out.
And they have. They have had people like I've
seen. Actually like gameplay footage.
I think they allowed you to like play around some of the vehicles
beforehand, maybe Journal or Know, but I've seen people
already post content creators already have like first access
videos. So kind of what you can do, but
it's like a massive world. If the other side is meant to be
kind of a board 8 version, this is meant to be like a
intergalactic style version. So I think, yeah, it could.
It could. It could.
Definitely pop off. Yeah, Jonah, what do you think?
So does Star Alice get half? Their money back from FTX
because they lost it during the same bank.
I remember because like. To make a game.
Well, that's why like I remember that they were doing an well
whatever I I can say they were going for an emergency raise
right after and went directly to to VC's.
I don't know if they ever got that money.
Then they did a a ship sale to to make some money back.
I don't know if they got that money back.
Sorry, I thought that was like a special effect.
I. Didn't know your phone.
What did you have? Like a black?
No, it's my phones on silence, but someone called me on
WhatsApp and still managed to ring.
It sounds like a BlackBerry. I haven't heard that.
Sound since 2007 is the sound that when when someone calls you
on WhatsApp but tell me more so I I remember that I mean I doubt
they got their money back so I'm assuming that to raise more
money right right That's I mean that would.
Be my assumption. I mean, the game looks really
cool, but I I would just temper expectations.
Because it looks like they trying to make a web three Star
Citizen and it took Star Citizen 12 years to make a beta so like.
Let's just temper our expectations a little bit and
and I saw their racing game, it kind of reminds me of like a PS2
game and it's not good for my business to say those things,
but it's true. Alright well look, we're we're
gonna see what happens in the store Atlas side, but definitely
some stuff, some some some new stuff keep you know an eye on as
the world of gaming and Web 3 continues to grow and to grow
non stops. OK, go ahead.
Just now. Yeah, just.
I think it was funny to. See big time release their token
I think the other day and it already is up 300 million market
cap. Wait, what?
Yeah, the I I've known. About it for a while, but it's a
it's like a web three MO. So it's not a bad game.
And they went to market I think this week and I looked at the
market and like ohh wow 300 million already.
That was fast. Made.
The central land as well, right? Or they made.
Another game. Yeah.
OK excellent. I'm.
I, I, I, I said a joke to one of the other founders in gaming
that we work with and they were like, well, how do you think we
should go to market? And they can't do a token,
'cause they're US based. But I said it went three the
game is the token, and the appetiser is the game itself.
That's interesting. It's listen, it's it's true
actually that's that's pretty it's pretty well said.
Yeah, it's because we're playing the game right now.
We speculate. We have fun, we talk about it,
we do a little gamba and then the dressing is playing, uh,
whatever, a little quiet casual game.
And then the token does whatever it does.
Yeah that's that's pretty 300 million that's wild.
I'll, I'll get the news out maybe we can cover it tomorrow
morning. Not alright well that was a good
show some great topics as usual seems like they thought to talk
about and tomorrow it looks like we're gonna have to talk market
a little more. I don't know what just happened,
Mando, or if there was any news that came out, but you're right
and just was kind of looking over the prices of all the other
alts if you haven't. Done too badly on that?
26727 is what you hit on Bitcoin just now and if 1559 right now,
Jesus are performing. Yeah, that Bitcoin dominance is
way down anyways. I guess we'll we'll we'll talk
about it tomorrow. But with that, with that, with
that was a great show movie. Enjoy your birthday night.
Let me know if you get into some crazy shenanigans on even though
you're not drinking, you're training like 17 times a day.
I think you should do 340 burpees tonight, not instead of
120 tonight. Yeah, birthday burpees.
Can't wait for that. Remember to wish my boy would be
a happy birthday. Meadow, Joseph pleasures you
all. As usual, I'll see you tomorrow
morning. And as usual, this show is
powered by cracking. Check out cracking.com/rug radio
tomorrow morning Stops. But I don't know are we are we
meant to do a? Stubs link.
There is Stubbs. It's been going.
On ohh doing Yeah alright, no worries OK scared me.
Alright, bye all.