Yo-yo, what up? What up?
Good morning, good morning, GMG. Thursday, September 19th, 2020.
44444. Look at that, another beautiful
day to have a beautiful day. I got my coast in the house.
Tyler, how you doing? Good morning.
It's AGM.
It's a green morning. Oh yeah.
Is pumping memes are pumping stocks?
Are pumping everything I. Likes the the rate cuts here, at
least so far. Oh yeah, baby, everything is
pumping. Everything is pumping on the
dot. Look at that.
Everything's pumping. You.
Absolutely. I mean, look, Tyler, I mean,
you've been, you've been hosting this show with me for a moment,
right? So you'll sit it with me all
summer long, right? What did I say?
What did I say in the summer? I said Labor Day weekend, people
come back to work and then my birthday the weekend after is
the bottom. Did I not say that?
Yeah, I think your your birthday was the quite literally.
The we hit $52,000 on Bitcoin on September 7th, which was the
pico bottom for now broke. Yeah, broke new up, folks.
Listen, I try to tell everyone it's not a thing.
It's not like a oh, it's my birthday.
So it's the bottom. It's just, it's the stars day
aligned. It's just how it is, you know,
it's just how it is. You know, it's you.
It's, it's, it's, it's just, it's just how things work, you
know, like, you know, broke is reading the horoscope, Woke is
studying astrology. And, and, and, you know, the
stars were aligned, you know? Yeah, the stars were aligned.
And, and, and as I turned 30, this happened.
I mean, look, look at the chain of events, right?
You got Donald Trump now buying burgers in Bitcoin.
Look at that. How poetic.
Crypto maxi. Oh, dude, he's one of us.
He's one of us for sure, for sure.
So he's got he's buying crypto. So look at that.
I told you bottom this, this, that and Speaking of speak, that
was not going to sound right. I'm not going to say that I was
going to speak here bottoms, but it really doesn't sound the same
way when you say Oh no, Oh no, no, no, no, no.
I'm a top. Actually, I don't doubt it.
You're a Chad. What up, Mando?
Good morning. I'm good.
Man, how are you? I'm good, man.
I'm really, really good. Oh my God.
Especially with all the Diddy stuff going on the timeline
right now is not the time for these jokes.
They just don't hit the same at all.
They hit yeah, they hit really wrong.
They hit really, really, really wrong.
What up with that, by the way? Anyways, no, we're not going to
we're not going to become a rage bait account.
I know that's a natural continuation usually after, you
know, after you go mainstream, but we're we're we're we're not
going to go there anyways. Mando, what are you eating
today? I.
Don't even know mango. Looks like just mango so I don't
even know. You're like a big mango guy.
So is the rec drink. Did you guys decide is it going
to be Mando's mangoes the next one?
I hope so. OB is obsessed with mangoes
right? Like OB eats.
Like a mango. It's true.
So it does feel like naturally it should be Mando's mangoes.
I like Mando's mangoes. Like I feel like Mando's
mangoes, naturally speaking, should be the the next, you
know, we're gonna petition. So the red guys in the audience,
'cause I know there's a lot of us, a lot of you guys, you know,
in the in the audience and the red guys.
Please make sure that, you know, OSF makes that on makes that the
the next the next flavour. Anyways, so that's show today,
today market report. We got a lot to cover yesterday
after the 50 bips red cup by Mr. Powell.
And by the way, did he show up with the purple tie?
I didn't even look at the thing, but he did.
Oh sure did. Tyler said, I hear I heard Tyler
made a lot of money yesterday. So I can't wait to talk about
that because he's been betting on the 50 bibs for a moment now.
He he's he talked about on the show.
I'm sure we could even go back and check it because you've been
saying you've been saying 50 bibs.
So I'm curious to know how much you had because you said it was
your biggest Poly market hit so far.
So I'm really excited to hear that one Next up, Next up,
Tyler, Speaking of the devil, Tyler's top 100.
I mean, I'm sure Tyler probably has so much to cover today.
Oh my Lord, I'm sure he's got a lot to talk about, but don't
worry y'all, because I have no more stories to tell.
So we're going to go right into it this morning.
And the last but not least, we're going to do a robot spins
today. You.
So we do four of these per week. So for those of you who are not
familiar with the show, we give money away every single week and
we are nearing $1,000,000. We could have had that this
week, we could hit that next week.
But one thing's for sure is that we are getting crazy close to
the $1,000,000 mark. We are at 932,000 $1000.
So all you have to do is follow FOMO Hour, follow Myriad Markets
and follow Robit Come and then we have a raffle bot where we
give a code in the middle of the show or at the end of the show
and then you go to raffle bot dot XYZ sign up and you will be
eligible to win. Which is amazing because I got
word last week that it the reason it took a while.
So it kicked out like a hundreds of bots that were trying to game
the system. So no more no mas Hopefully
we'll see what happens. Last but not least, of course,
this show is powered by galaxies, a no code Web 3
platform that empowers creators and communities to become
owners. Check out galaxies XYZ on X All
right, Mando, we need to talk about those rate cards ASAP and
this mark as well. It's looking beautiful,
can you dig it? GM, everyone.
Yeah. So I didn't see this coming.
I thought it'd just be 25 Pippa, but it was 50 pips.
It swung around a little bit when it happened.
We went down, we went up and then probably about an hour
afterwards we started to to really start the rally.
It's been pretty broad based. So Bitcoin dominance, I think
it's actually gone down slightly, but you saw big
rallies in ETH and Solana Solana's up to around 40 ETH up
to just shy of 2500 Bitcoin just breaking through 63 K as we go
live. Definitely a solid day all
around The same L ones that were leading before have again
continued. So Suey, that's probably been
the biggest gainer that one. Sui is now 1.35.
So it was a dollar just a few a few days ago.
Really like that one's done a 2 1/2 X in about 3 weeks now.
So decent, decent move in in Sui.
Well done. Probably picked up on that one.
I think we've been talking about it quite a lot on its way up as
well, but that one's definitely been leading leading like the L
ones. We we saw some of the the major
memes have a pop. So pop cat is near a billion
again, which is which is decent. You've had with actually had a
good day. Mog had a good day.
Kind of memes have done relatively well, like not not
crazy. This is definitely like a bit
more broad based, right, like you look through that list and
it's not all just memes. It's kind of a bit of
everything. Top cat is probably been like
the stand out performer. Looks like he's heading but to
to a billion again. But.
Yeah. The other are mainly just are
mainly just like L1, there's a few, there's a few random D5
players in there. Yeah, bit of a mixed bag I would
guess in what's been really, really strong in terms of now
what to expect, right. So we are now going to be going
through a period of pretty aggressive lowering of interest
rates. We've still got a long way to
kind of drop interest rates like this was from 5 1/2% to 5%.
Interest rates are still at 5%. He said that he will in he will
drop them another 50 BPS by the the end of the year.
So at least two more rate cuts. Markets are already predicting
that he could he there's over around a 50% probability that he
he drops even more than that. So there's a lot of expectation
here that that inflation is coming down very, very quickly
and the Fed, it's going to have to move pretty aggressively.
So let's see. But definitely an easing, an
easing of policy. The Bank of England didn't,
didn't drop rates today, but you're generally going to see
most other economies look to to drop rates.
ECB, Bank of England. The only one that won't be will
be Bank of Japan. But that's because their rates
are basically still at 0% and they're like very, very slowly
raising them from from zero. So.
We've got an easing period here. The job status today that came
out wasn't that bad either. So like I said to you before,
there's going to be a lot of sensitivity around economic
data. As long as that stays OK, this
is generally a very good setup for for markets.
It's just interesting to see what like where money is
flowing. Bitcoin back at 63 K Ether 2400
Solana at 1:40. Love that.
Bitcoin has definitely been outperforming there for a little
bit. Like the last time Bitcoin did
63 K, Solana and Ether were quite a decent amount higher
than that. So money does is definitely
rotating into different things. It's worth looking at maybe some
of the other narratives that are happening at the moment.
Obviously memes have good days, but this is then bouncing off
for the most part of a very, very weak period.
So it'll be interesting to see how that one develops pumped up
fun like is pumping out, I think less successful coins at the
moment. So maybe dilution is less of an
issue than it has been in the past.
Like people are are more happy just to play with this cycle's
meme coins. But that can change very, very
quickly. So let's see.
Yeah, I mean, it looks like people are just going back to
the legacy memes or I mean they're on legacy memes, but
they're just the means of the cycle.
Let's just call it that way, right?
Like the your subject, like I'm sure if we go the top gainer is
like, well, Tyler's going to talk about it, so I'll leave it
to him. But you know, the pop cats, the
mouse of this world and the moo moos and this and that.
Like I think if I go to all the ones that we've been tracking
for a while, I bet you they're all up 10 to 30 points, right?
Like, well, there you go. Moo moo's up like what, 35
points over over 24? Look, it's obviously down from
from way down from its highs. But if you look at the ones that
none of us really are involved in, but like even the usual
look, Giga 25 points up right. Oh, wow, look at this chart.
Jesus, this is nice. Wow, that's actually a nice
chart, I'm not going to lie. Holy shit.
How's himself Pepe? Oh no, that's the wrong one.
That's the wrong one. That's the wrong one.
One second you have like Pepe, for example.
Like, see, that's what it looks like.
Redmond know people just rotating to to what they've been
buying all cycle. I would say that, you know, if
something drops 5060% and then then goes up 20%, there's a few
which look unbelievably strong. Pop cat being.
Yeah. Strongest out of the major
memes. All the others are bouncing off
a very weak period still. So they've got, you know,
someone, I was speaking to someone today at my gym and he
was like 01 of my coins is up 60%.
And I was like, oh, that's great.
And he was like, yeah, but I'm down 80%.
Well, like most people that got into the space because most most
of the normies entered the space at the at this cycles Pico top,
right, when Bitcoin was in the 70s and like Mog was 900 mil and
like Pepe was like 7 billion, right.
Like that's when really we saw a crazy rally and then we saw in
the very aggressive move down in the last few months, like it's
been 3. I mean, let's look at Bitcoin
for a second before we go to Tyler's top.
I mean, Mando, we've been ranging in this exact 6063, the
famous 63 K February 21st since February.
The the the same, you know. And what I what I'd be looking
at here, just bringing up the the the chart maybe for a minute
is we just hit a like it looks more likely that we hit a lower
a higher low. Sorry.
Right now we break above that 65 K Let's.
Draw some lines. Which was the last high?
Do you see what I mean? Let's draw some lines.
So This is why you're talking about the higher low here for
people. There you go.
Well, yeah, potentially, yeah. But the real thing is that 65 K
here. So if we break up like 66 K
here, that would really show that, you know, it's it, we're
coming out of this. Right, right here.
Yeah, exactly. That would be.
That would be the. One lens.
So there'll be, I, I think we're going to head there and then
we'll decide what we want to do. Yeah.
So I think I said it before, but I, yeah, I think 80% probability
here we're going to. I mean, what does it look like?
Something like this or something like this and then.
Like that probably something a bit like a bit like that.
Yeah. Like, I don't think people,
maybe some people turned in today to buy a ton of Bitcoin.
But actually the Bitcoin ETF saw outflows yesterday as the ETF.
I think what it really was is just people who in crypto got
bullish. And so you put money to work.
I think we probably, we probably saw some volatility left until
the election. So I wouldn't go like, Oh my
God, this is it. It's all over.
Like I still think we've got a little bit of volatility, but I
do think that around the election will start to rally a
lot. That's what I've said for a
long, long time, but it's the perfect setup now for that as
well. I have a question.
So do you think that the rate cuts, it was like a lot of news
yesterday, right? It wasn't just the rate cuts,
right? It was rate cuts.
It was the government of what Pennsylvania, which government
was it? Maybe Tyler, you know better
than me that start the big Louisiana, Louisiana, you had
that. So you had red cuts, which was
big one. Yeah.
The government in Louisiana. Of course, it helps that Donald
Trump's buying Bitcoin on national television, burgers
using Bitcoin doesn't help the image of it all.
And it looks like he did really well in New York last night in
terms of like, popularity. So it's like which is a pretty
large state if I'm not mistaken are.
You are you now just like a Trump.
No, I was betting on the words and I got wrecked.
I lost absolutely everything I had.
I was betting that he would say the word golf and he didn't.
You call base carbon because I have to I like that account.
It's a terrible mentions market better.
So I this is just a piece because I think he he wanted
golf and Taylor Swift too. I know I tailed him and he
failed me, which is wild. But you know what's crazy?
It's like, I mean golf. Yeah, he could have said golf,
he said. Golfer.
Yeah, I mean, I don't think golf is a bad bet.
Thank you. Thank you, Tyler.
Well, I'm I went all in on that one.
I went full port on golf and and that didn't have anyways.
So OK, that's that for the market Mando.
So pay attention before. We transition maybe I think one
thing for for tomorrow, like this Bank of Japan seems to be a
a big event tomorrow. So like I come, I'm kind of
personally holding off celebration.
So a lot of the bear takes like Arthur Hayes or Nessay, I think
he gave a speech. He's calling the 50 bips of
nuclear catastrophe, the 50 bips cut a nuclear catastrophe, and
he's talking about how it's setting up the the the yen carry
trade to happen again. So if the yen gains strength
against the dollar, then the whole problem we saw a month ago
could repeat. I'm a fan of Arthur Hayes but
he's probably called 10 of the last two massive sell offs.
He's he's been like, I'm a fan as well.
He's been quite wrong but I'm a fan but.
Macro takes, he was saying that we were going to 50K and he was
shorting AT55K, said that it was going to unravel again too.
He's become a bit of A1 trick pony for the last two months
talking about this young carry trade unwinding, and he was
very, very good at explaining it at the start, but he keeps on
like doom. I have to agree.
About it and literally ahead of every single major event for the
last 8 weeks, he said. Watch out for the carry trade.
So I don't know. I, I agree with you.
I, I, I think Arthur is super fucking cool and he's a Chad.
He's one of the most successful people in their industry.
So like respect, but like the last calls this, this cycles
calls. I mean, this goes to show you
like this cycle has been impossible to call like all the
people. Right.
Shut up. Is it even right now partying in
Singapore? Can they just get drunk and like
run it back like? I hear handsome versus bit boy,
it's been announced. I saw that it's so crazy how
outstageous stuff is, but I do think I'd be I'd be scared going
to a ring with bit boy. Bit boy's a heavy favorite
there. 100. Percent.
Maybe one favorite. Million percent.
I mean, for sure, bit was just Cocaine Bear, you know, so so so
I I wouldn't fight bit boy. Let me just put it that way.
Yeah, I don't think. Yeah, I mean, he was pretty
solid last fight. Like it was almost his
redemption arc when he fought last, you know, So I I don't
know. Anyways, Tyler, let's see what
you got for us. Our top story for Oak's latest
interview guest Donald Trump. He's leaning more into crypto.
He used Bitcoin as payment at a bar in New York City last night
ahead of his rally yesterday evening.
So clearly embracing crypto and Bitcoin even more.
The SEC was hammered in the congressional hearing on
Wednesday as the former SEC commissioner and now Robin
Hood's senior lawyer recounted their difficulties in complying
with the SE CS murky regulations.
So they are clearly in hot water with U.S.
Congress ingress Louisiana became the first state to allow
crypto payments with the first transaction hunting license
purchased in Bitcoin because of course that was the first
transaction in Louisiana. In other news, Revolute shared
plans to issue a stable coin as the london-based fintech company
looks to expand their reach in crypto.
Wisdom tree is pushing further into real world asset
tokenization with their wisdom tree connect product for
businesses offering access to tokenized funds.
And then Borderless Capital introduced a new $100 million
deep in fund. Seems like deep in one of the
hotter topics at Token 2049 in protocol news, Parallel shared a
first look. It's upcoming third person
shooter game called Tao Seti allowing here's their parallel
avatars in the 3D World. The game looks pretty Dang good.
Solana Mobile is up to $70 million in pre-orders for the
second Solana Solana seeker that's now 5X in demand of their
first phone. The Solana saga in memes.
We kind of went there. Meme coin majors are majorly
green here this morning. Pop cat leading all notable
movers up with 30%. Several mid tier Solana memes up
20 to 40%. The other Nero back up 50% and
MU Dang is the hot new runner. MU Dang, the the viral, named
after the viral baby hippo, was up.
Really. Have.
You not seen this viral hippo? I I have not.
I'm half, I'm half still getting back into the space.
Like how? Have you been?
I've been, yeah. I've never.
Yeah, Florida. We've got to talk about mood and
just run us through the rest of the headlines and then we'll
we'll come back there. And NFT is kind of a lot of NFT
headlines. So the NFT finance film Kaladita
hit #1 on this full time. So some strong success for for
them and X copy edition of 6 sold for 300 ETH early this
morning that's over $700,000 for an edition of six bored apes big
day for them to introduce a new trading simulation game called
top trader for 8 chain. It's developed by that the
workshop team offers crypto rewards for the best high
leverage traders. They were also Bored Apes was
the answer to a Jeopardy question in an episode that
aired last night and then Dookie Dash season 2.
Starts here today and we got some breaking news right before
the show the floor app folks may remember the floor team yeah
yeah yeah they rebranded as rally with with a new focus your
wallet made social so. Some wait like rally like rally
like the. Like your rally cap or is now
rally refresh your apps. I think they've already made the
change. Good people there.
I would I I haven't used for much because I don't really use
the apps and stuff, but like I, I, I, I like Chris a lot and
they're always supportive of us. So this is this is really cool.
Let me I'm trying to look at that.
I'm trying to find that. OK, cool.
Very nice. Very, very good.
Well, Tyler, Tyler, did I want to first start with your
infamous bet? I want to know if you don't mind
sharing it, how much did you have on this 50 minutes?
They like was you seem very happy yesterday.
It wasn't the craziest 1 fall, this was more just like one of
those bets where you had conviction and it just felt good
just to hit a a long standing bet.
So I end up buying about $1000 worth at $0.16.
So it was a six to one long shot at that point.
Held it all the way through. Yesterday I sold my initials off
about two hours before the event just because it was a true coin
flip. And my general thesis was that
it felt like a coin flip and 16% was way too low of chances kind
of given historical precedent and held the held the rest into
the meeting. We hit 50 bits, end up cashing
out five to one. It's about 5000 bucks on a $1000
bet. Again, not not the craziest
windfall I got. I've had random memes, you know,
make more in a day and I felt nothing about it.
But this one, I was just, it felt more, much more joyful
just, you know, having convictions, holding the bet for
over 30 days. We talked about on the show
several times. So this was just a fun one.
My polymark account grounded up started with like 2 or $3000 up
to 12,000 so I've got. The well I am at 0.
I got 2. Cents in my wallet you.
May mention market bets. Yeah, dude, come on, man.
That's crazy. So congratulations on that.
You did call it. So if you listen, dude, wait,
We're dude, we're like spoon feeding people on the show and
with all sorts of things. With all sorts of things.
I mean, look at that. You absolutely love to see that.
You absolutely love to see that, Tyler.
I mean, where do we even start? It seems like memes.
Let's go deeper into memes. Let's.
Go with the memes. Let's go.
Let's let's talk about that, Tommy.
Oh, we, we talk about Pop cat. Pop Cat clearly the, the, the
leading performer right now. So like most of the majors,
they're up on the day, but they're all down like 70%.
I mean, Pop Cat's basically an all time high here, right?
Like it, it, it briefly touched 1 billion for like a day, maybe
a few days, but now it's back at 900 touch under 900.
It, it looks like the strongest performer.
I think a lot of folks are starting to wonder what will it
flip with? I think it gets really
interesting the, the, the closer it gets to, to whip and balk.
Does it have the, the staying power to play in that range?
Is it going to be one of those the kind of trades at like 50 to
60% of width and you need the the leaders to start leveling up
to really move up? So some of an interesting one to
follow. I don't know if I had a strong
read. I still feel like whiff is the
stronger meme. Is it with this performance?
I think whiff is a strong meme. I don't know if it's a stronger
anymore in terms of narrative. It's definitely lost some of the
momentum it had. It does look bottomed out
though, yeah. What do you think?
I. Mean I've said this.
I said this to you months ago that I preferred pop cat to
with. I felt like with is is in a
holding pattern and was really tied to Anson pretty heavily and
and things kind of turned S for him.
And then there was the sphere stuff.
Whereas pop cat, pop cats, Asian chads, man, you don't fade that.
You don't fade that. Yeah, I I like it.
I like it. I like it.
So what what what all you? What else you looking at in
terms of meme Tyler? Mudang so.
So tell me, tell me the story of this Mudang.
Baby hippo, His name is Mudang and he's just going viral.
He's just a very silly baby hippo.
He gets himself into precarious situations.
Wait. He's just loved across.
This. Yeah, so this is the the the
meme chart. So it's like it's a week old.
It's not like a super runner, but somewhat I, I guess I didn't
realize this, this HIPAA was this old, but I think they
really started going viral in like the last three to four
days. And this is what's the biggest,
biggest rocket. I think a lot of folks I've seen
folks on the timeline say they got in like sub 100,000 on this
one. Really.
I wish I could. If you look at that tail at the
beginning like it, there was a several day stretch where you
could have gotten in fairly low. In fact, that's what's been
missing in this lace in this recent round of meme coin.
Training is like anything decent runs up so fast that it's
impossible to hit like those 10 and 25 XS unless it goes to like
1/4 billion. Here you've got folks who hit it
going to 25,000,000 because there was multiple days where
you could get in under a million.
Wow, so people. Starting to have some success,
it has spun up its own huge collection of animals and betas
to Mudang already, so we'll see if any of those are are able to
to run up. I think the market caps are too
low to I talk about much on the show just yet, but if Mudang
keeps pumping up we might see some more MU betas.
Oh wow, that's that's good. We need this.
We want, we want a bunch of memes to to to go to Valhalla.
We. Need a new meme to do really
well. I think that's something that's
been missing. Yeah, from people.
Yeah, that's that's absolutely insane.
So good for good for the people. In other news, not meme news, it
looks like. Let me see what you got.
I mean, where do we even start? You have your board ape news,
there's the Caidita news, there's the SEC stuff.
What are you going to go next? We could touch on the SEC story.
I think it's, it's a little bit lighter.
But I think the the take away here is that Congresses are
getting more and more fed up with the SEC and it's generally
lack of clarity in how that they are handling crypto companies.
And I think the testimony yesterday, it's important
because it came from Daniel Gallagher, who was a former SEC
commissioner. So he knows the inside out of
the SEC and you'll find this is actually pretty common in like
the compliance space, people who will be regulators of the SEC
and then they'll go work in like high-ranking lawyer or
high-ranking compliance rules at at banks and, and fintechs like
this because that they know, they know the playbook.
And here he is testifying yesterday that there there is no
playbook and that Robin Hood, you know, did their best to to
try to comply with the SEC and that basically it was just
impossible. And it's basically just a three
hour lashing of the SEC and Ginsler and everything they've
done and how difficult they've made it for US crypto companies.
So I think that this is important because there's been a
lot of chatter on, you know, crypto is doomed if Kamala wins
versus it was going to be massively successful if Trump
wins. And I think there's, there's
more evidence that there is a middle here, right?
Yes, there is. The Congress are starting to
flood like there's there's still, I think a potential
future for crypto in the. US yeah, I definitely think that
you know the regardless of the outcomes like cryptos crypto,
right like we've we've run we've said that on the show before
we've run to highs regardless of of the government hammering US
24/7 trying to trying to trying to trying to make us you know
all criminals in this industry would help to have someone
that's pro. But at the end of the day, like
we've still got this way this far with an SEC that's been
highly against our our industry. We're we're really coming up on
this election fast, man. It's starting to hit like, you
know, September all the way up to Christmas.
It's just like it's going to be a flash, right?
Yeah, it's going to be, it's going to be.
I think This is why I think what Arthur Hay is saying is it's
kind of a little bit of gap that like we are getting with each
successive week up until the election, things will become
clearer and clearer. And the only thing like a lot of
the we now know kind of Fed, the Fed cut and his and their
trajectory, yeah, maybe it might be 50 bits, maybe it might be 75
bits. But we know the trajectory.
We're starting to see, OK, economic data, We'd have to see
a real fall off there to see what happens.
Oil's gone, going lower, like some of the stuff.
The only real thing that's that's still uncertain is the
election. If the election either way, I
think we're going to see a rally like once all of that is in this
rearview mirror. I think we're we're going to,
we're going to be in a good position.
I think Gensler's in front of Congress next week.
Yeah. As is all of the SEC, in fact,
including Hester Pierce. Oh, we're going to get some good
clips. Oh, we're going to get some good
clips. That's a big one.
So I think on Tuesday they're all in front and then Wednesday
it's just Gensler, so. Nice.
And whether you whether you think this is fair or not,
crypto is spending a ton of money on this election, like an
absolutely ton. It's by far and away the biggest
pack at the moment is, is, is the crypto pack one of them to
do with Coinbase, one of them to do with the Winklevoss twins.
But they are spending more than any other pack.
So it is turning money in politics does change people's
views very, very clearly. And I think they're going to get
a really, really hard go here, particularly Gensler, some of
the comments that were made yesterday basically saying that
Gensis is making up terms to deal with crypto at the moment,
which like he's just making up regulation on the spot.
And that's just something that you have to be aware of.
The SEC does not make regulation.
They are only there to enforce, right?
And that's, that's what the, the Chevron deference thing was
about a couple months ago. It was about the fact that there
have been overreach from these agencies by essentially acting
like regulators, as in like they were writing the regulation
rather than just enforcing it. So this sort of regulation by
enforcement was questioned. And now that they they are going
to have to wait for actually regulation to be written.
So I think he's going to get a lot of heat on the idea that he
basically took it upon himself to self regulate the crypto
space when it wasn't his to his his to deal with.
Yeah, that's you're right. I mean, this is this is probably
what he's going to get, you know, hammered with.
I'm also curiously here has to Pierce, right, Because she's
been fiercely like kind of like going against Gensler.
I mean, remember when they went to Blaze cats or no Stoner cats?
She even wrote a letter the next day and disagrees with him.
She came out just a couple of days ago after the fly fish
settle, basically saying you know, fly fish settled for 750K.
She came out and said, like what?
7:50 It was not one in something million, OK.
I think it was well, that's what I'd seen and she came out and
said why the hell are they even going after this?
Like fly fish sold basically a dining club as an NFT and I
think. We should go after soul house.
Yes, you see he's gone off and it's like what what are you
doing so. Meanwhile, XPT, on his own dime,
is helping track down like the the criminals behind this $240
million dude. Did you have the TLDR on that
Tyler? I didn't know if you were ready
for that it. Came out right before the show
so I didn't have a chance to to die.
Tomorrow. Yeah.
Let's talk about this tomorrow. Like, let's go into details on
this. But this is not, this is not
whiz, whiz, whiz. OK?
It's not the Whiz. People are thinking that Wizard
of Soul is probably the $243 million scam.
Actually, he's been buying a lot of watches.
But OK, so let's what? Do you think the next couple one
of one is worth now? I mean, you had one sell last
week, no? So you got a based off of that,
right? No, if anybody had an addition
sell recently. I'm pretty sure one-on-one sell,
no. I think it depends on the
one-on-one still like it's been like the highly coveted
additions. Are you selling Mando?
You have two, no? Oh wow.
Yeah, me and Obie were just talking about it today.
Like I'm asking you to take my money.
These things are going absolutely insane at the moment.
It's definitely one of the markets hot.
I mean, you guys are good at turning money into more money.
So if you can get a million or two from that shit, you may as
well, right? What's your vault?
Who's the buyer? Like who?
I guess I'm trying to work out like why are these sweet?
These are getting swept. There's a group of people just
buying up X copies, like you should just reach out to the guy
who bought mine like lost wisdom dot ETH or something or Raul and
this big role. You guys are tight with Raul, so
he must know. I don't he's been buying
editions. He bought some of the editions
early, right? He did.
Yeah, but he. I'm sure there's a group chat of
people that are ex copy aficionados, right?
There was something that came out, I think it was yesterday
that Cosimo mentioned, is that like one of the people that was
involved in the sale of the Salvador Mundi, you know, the,
the most expensive painting I've ever sold is it's like setting
up an auction house for NFTS. If you go to his account, who
it's like I don't forget the name of the person, but they've
set up like a specific digital art auction house.
If you go to Cosmo, I don't know, definitely there.
I remember seeing it. Oh, Payday no.
Yeah, this is it. Fair Warning Arts Today is a
major day for the digital arts. Loic Guzare made history as
mastermind of the Da Vinci Salvador Mundi auction, which
closed at 450 million. Now he's furthest shaking up the
art world with his new auction platform.
Two to four times monthly, 1 rare and highly prized artwork
is chosen to be auctioned. But to a select group of
traditional art collectors, a true who's who of which many are
household names, all trust. So maybe we're starting to see
this sort of stuff happen again. It's starting with an Autoglyph,
it looks like. So this.
Is the best case scenario right? I guess this is the original
thesis playing out is that eventually Wales and the
traditional art world would come in and start appreciating
digital art. Yeah.
I've been browsing it looks like the X copy floor for one on ones
is like 325 ETH. Right now.
Oh my. God worse is the is the wrong
word, but it's not like one of the most interesting pieces so I
think a decent X copy one O 1 could be live.
I mean OB Emmanuel have like the uniswap piece like they have
like a sick freaking one of one. Yeah, we have a.
You have the one that is only. It's a portrait.
It's one of the only portraits, right?
It's only he hasn't done that one.
Yeah, it's an actual portrait. What's your vault name?
Canary Vault. Canary.
I don't even know the name. I don't know this piece.
I don't know you know the name. I can't find the Canary vault.
Oh God. I'm.
Pretty sure it's called Canary vault.
I have a Canary or Canary vault. Canary Vault.
It's not Canary Vault. It's Canary Vault. dot east.
OK, let's go look at Mando and Ovie's art collection.
X copy. Oh, you still have 5 grifters?
Jesus. Yeah, 5 grifters still have 180
rugs. Let's go.
That's small. I like the.
Grifters a lot, I think I can think.
Grifters. Grifters are going to get back
to 30 I think. Oh, yeah, I actually agree with
you on that one, Tyler, I think, Wait, it's all hold on.
How do I find I? Think it's.
Super rare maybe to find it. Super rare.
There you go. OK.
Oh, there it is. It's this one, right?
That's one of them, yeah. Oh, it's not this one.
You also have this left. You still have this guy here?
Yeah. And you guys are cooking you
guys those. Are nice pieces though.
Yeah, in other news, I saw also Danny Seed phrase dropped the
song with Blondish yesterday. I thought it was really cool.
So definitely want to shout this out.
I I download I bought it on bass yesterday, the song with the
vinyl collection. So he got a little physical
version of it. I thought it was sick that Danny
gets to do a collaboration song with with Blondish a week before
his big Swarovski, his big Swarovski collaboration.
So daddy's cooking guys. Siegfries is cooking different
ways of going mainstream. But next week there's an event
at Swarovski on 5th Ave. shut down for his launch.
So I thought it was really cool. I'll probably go there for the
night and and cover that be super cool.
So he's doing blondish and Swarovski.
So it seems like NFT are like and and also it's a
collaboration with Swarovski merch, Siegfries and Christie's
and not Christie's 3 point O the actual christies.com.
So there's like all that to say to title up to what Meadow was
saying, what you're talking about here, Ty.
Like the art scene industry and I know there's freeze London
soon. Like there's a lot of stuff
that's starting to really heat up there and a history doesn't
you know what it doesn't repeat himself with often.
Rhymes Art launched their last run in 2021.
I'm just saying. So in 2020, the end when people
started selling slowly, then $69 million sale, you know, when
billionaires get together and are trying to pump their art
bags, you know, it's not that bad.
Foodie market. And by the way, before I go to
the boys here, the code on raffle bought our XYZ today,
raffle bought dot XYZ. You go on this website,
RAFFLEBOT dot XYZ. The koto is president,
PRESIDENT, president. If you get an error message,
don't worry, it's still going to count it in.
I just got the memo just in case.
But just so you guys, nobody at stake like, is art going to come
back and save NFTS? It looks strong out of all the
NFTS stuff like NFTS obviously have had a much better
second-half of this cycle than they did the first half, right?
Like where they went a lot lower, mean points dominated.
Now it felt like a few months ago that kind of switched back
and people started buying NFTS and board H put it in a bottom
and all these other NFTS put in a bottom and they rallied kind
of after the blow thing happened.
But yeah, the art stuff, it's really just X copy though.
Like I'm not seeing, you know, the Super red bot isn't going
crazy every single day. At least I haven't been seeing
it go crazy every single day so. Yeah.
You know, I, I, which is, which is when the, the space was like
the most fun. I felt like when it was like a
lot of a lot of artists were doing well and it was, you know,
we had like a digital renaissance being spoken about.
It's now, it's now like a collector's bidding up already
expensive pieces rather than kind of digital renaissance.
Not that that's not happening, it's just that it's not, you're
not seeing, let's say, emerging artists doing incredibly well.
Not yet though, but it starts, you got to stop from the top,
right? Like yeah, usually trickles
down, right? What do you think, Tyler?
Do you think, do you think by wow, already over 100 entries on
raffle ball dot XYZ Enter, enter, enter y'all.
Because we're doing these raffles in like 5-6 minutes.
So, Tyler, what do you think? You think maybe it's going to be
an art art art revolution once again that pushes the NFT
market? I think grail diss art looks
great. Yeah, XCOPY pieces fantastic.
I think your, your rare gender of art is probably in in really
good shape. And then I think a few other
handful of one-on-one artists. But kind of like Mando
mentioned, it's been it's been a very quiet period and probably
rightfully so. There hasn't been a whole lot of
demand in the market for for new digital art.
But like Sam's Brad, he's he's definitely like top five, top 10
digital artists right now. It's been a very quiet year.
Like I think he's been heads down and working.
Also had a kit. Yes, and and, and rightfully so
taking a break, but I think we, we need to to see like artists
like that, you know, launching their projects that that's the
type of thing that gains momentum.
Absolutely. In the space and I think it's
coming like we we we actually saw a run on the the monument
game NFTS last. Week.
Up to like 80, maybe higher, maybe they went to 12.
So there is interest out there. It just goes in, in, in
miniature runs. Now, does that mean our PFPS are
going to pump? Maybe not.
So they're kind of different sectors.
Yeah, wait until they find out about crypto punks right right
sites not loading. Just go www.raffleball.xyz.
You actually have to put the triple W if it doesn't load and
check it out. Make sure you follow for more or
make sure you follow robot. What else?
I want to cover 01 thing I just realized right as the show
started. Lads, let me show you guys
something cool. Look at this.
Three years ago today on the dot, rock radio was born.
Wow, September. Do you remember this guy here
who remembers this? Oh man.
If you remember this, you know, Gee, September 19th, 2021 is
when we broke PO app and we melted the servers and that
infamous like story that I've been obviously saying a lot more
these days because everybody's asking me like how Ragrita was
born. I was born on this day three
years ago on a fine. I think it was a Saturday in
2021 when I came up with the name Rag Radio and came up with
the idea of it in the concept. It's pretty wild, right?
And then and then I remember I just got a Bernie was saying and
then he remembers finding out about Rag radio through OVI and
Mendel was saying that Rag Radio is a three to five year play.
Three years later, we interviewed Donald Trump.
So that's that's not a bad call, man.
It's not a bad call. I'm effort.
Oh my. Three years ago.
Wow. Yeah, I guess we didn't really
come on board until the February or March.
Right, No, you guys came on board what we minted.
So January you guys were minting early.
So it's it was January that you guys there, you guys got on, got
on board. September was the ideation
ideation of rug radio. December was the IT took me two
months after to go back and like actually try to build it.
But but September 19th, 2021 is when rug radio, the name was
born. So it's funny.
It's funny. I should have said that
yesterday I had BBC and New York Times call me and ask me what
the hell rug radio is. I should have told them three
years old. Now today I keep saying 2 1/2
years. Shit, they grow so fast.
Yeah, you got to tell us the creation story.
I think folks want to know. Yeah, I mean, listen, I I've
said a bunch, but it's like, you know, we're on Twitter Spaces.
Shit kept breaking and I was just called rug radio.
Let's start a let's start a decentralized creator network
where we empower creators to to, you know, make rug crypto
mainstream and more viral. It looks like three years later,
we're we're definitely on on the right path, pathway here to to
keep building this. So wow, then this is this is
this is awesome.