Yo-yo, yo-yo what up, what up? Good morning, good morning MGF
Friday, oh baby. Friday, Friday, Friday, February
28th, oh last day of February. Look at that we're ending the
week on on the month of Friday. Love to see you 2025 Look at
that another beautiful day to have a beautiful day.
I got my Co host in the house Tyler Mandel.
Good morning. How you doing today?
I'm.
All right, how are you woke up? And I was like, you know, you
just check because you're like, no, it can't be right.
For me it's OK because I don't wake up to it.
I go to sleep to it. But you guys wake up to it,
right? As long as it's 78 K when I woke
up. Yeah, because the.
Big big dips are like 11:00 PM here, right?
Wait, as soon as Europe Europe wakes up, goes to have a
croissant and then the price and just pure panic in the streets
of Paris. Yeah, yeah, exactly.
With the whole like 12 Bitcoin they won in the entire country,
you know, and so. Paris is is an hour ahead of me,
so when I wake up, you know, they're they're in full.
Oh, no, you OK? So let me.
Yeah, yeah. Paris is like, oh, no.
Fon Fon, fon, fon. Why are this coin so low?
Fon Fon. Oh no, the Americano drops.
I'm very, very, I'm very bearish on, on, on French CT, on French
Twitter, on French crypto, sorry. 100%.
Very bearish. I'll tell you guys why in a
second. Tyler, how you doing?
I'm good I I slept through most of the the crash so Bitcoin is
back to when when I woke up man you.
Should see last night dude. Say goodbye to February.
This is the second worst February in crypto's.
History. We got to pull up that chart
that we pulled up Feb one thinking that we did new highs
in February, myself included. That's for sure.
We definitely got to going to going to have to we we had some
hopes for a second. I'm bearish, so I'm bearish
French crypto for the reason that I did an interview in
French for a French big. It's like the US of France kind
of, but like smaller, but like still pretty big.
Actually, it's pretty big and and the comments.
So I said like something like that's been for Cordano and I
was like, yeah, whatever. And they were so mad bro, they
were so mad. And then the guy asked me is
there going to be an all season? I said no.
I mean there has been all seasons meme coins, like there's
10,000 meme coins a day. How can you have an all season?
And I got destroyed. Like I have never gotten
attacked so hard since like 2021.
And it's always just French people mad that I talked to you
about Cardano and said that the all season's not happening.
And like, I'm talking like furious, like furious would be
mad in the comments. You should see them.
It's actually hilarious. I, I would read them to you guys
when they're in French. It's actually so funny.
And then before the, the interview happened before Libra.
And so I always used to say so long to $1000, you know, that I
say, I still think we're going to go to 1000, but maybe not the
cycle anymore, you know? But anyways, I go so down to
$1000. And so yes, but we we do have to
go by 420 at first, right, which we've always said 4:20 to the
1000 brother. They hate Solana over there.
I. They hate Solana.
They I have to show you these comments.
I mean, I don't know how to show these comments.
I it's, it's it's on Instagram even worse because then they
said where'd you get your information?
So you guys need to get on Twitter and let me tell you
they're French hate X even more so I hate everything they hated
during that. I managed in 10 minutes to piss
off the entire country, 1X2 ADA, three no altcoin and four
Solana. I it appears they hate all four.
I have never fumble an interview so hard.
I I don't know they hate they just they're so mad at me over
there. It's insane.
Also the fact that interview Trump I think doesn't really
work. I bode well with them because we
talked about that the guy was asking me.
So I don't think they really like him out there that much.
But anyways, anyways, we're back, boys.
Bitcoins at 80. Who would have thought that
Bitcoin at $83,000 would be such a euphoric feeling right now.
Oh my God. So what is the 144?
Yeah, market report. Market report Tyler's top 100.
We did get a some very positive slot on news, for what it's
worth. Market report.
No, no, no. Robit loot box bin.
And then the show, as usual, is powered by a promise.
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engagement. Mando, let's see what happens in
this market right now. Who is the man that called Daddy
of the Man? Can you dig it?
GM everyone well done for sticking with with us during
this turbulent week yeah we had a bit of a a bit of a morning
Bitcoin touched 78 K it that was down I was saying even in our
group chat right like Bitcoin was at 99 K when me and Tyler
were on this show this time last week as we were talking buy bit
was like the buy bit hack hack hack hack happened and we dipped
from 99 K live on the show probably at this exact moment
where I'm talking now and it hit 78 K this morning Oh it's.
True, I forgot about buy bit. Yeah, that's how this all
started. That was a week ago that.
Was a week ago then we had a big underperformance of Ethereum,
which is kind of even continued now, but it's getting the
hitting went below 2K. Oh.
Wow, it did. Yeah, yeah.
Look at this bro. That's a lower low dude.
It does not look good here dude. Fuck, I'm not even trying to
like hey this is just terrible. Yeah, anyway, that's happened
with Eve and most things started to fall out of bed like sort of
big move Lois Lana hit 125 even like the the coins that should
have been strong recently hype bearer all of this stuff, even
Kaito like got smashed at one stage.
But like seemingly like by the time I woke up and then as the
mornings progressed, things start to get a little bit
better. There was the main thing that
like caused a freak out last yesterday was that the NASDAQ
actually just got hammered into the close.
So NASDAQ closed down 3% yesterday and most of that
happened in like the last 10 minutes or last hour.
So decent move lower there in the in, in tech stocks, mainly
on the back of NVIDIA earnings, but but also tariffs.
You know, Trump always talking about tariffs and tariffs.
Although yesterday he did meet, he did meet Keir Starmer, who's
the the British PM and kind of came out and said, oh, we might
do a trade deal actually with the first, the first actual
country that I've seen him talk about a trade deal with his,
with the the United Kingdom. Interestingly, the United
Kingdom by some metrics actually has a has a trade surplus with
the US. So do.
You think that's because they're out of the EU?
Do you think that plays into that, that they're they're on
their own? Because he seems to be very
like. Maybe maybe I think I think it's
part of some of those goods that we sell.
But yeah, it's it's we are not, we're not one of those like
horrific trade deficit countries with the with the US.
So it would make absolutely no sense for Trump to to not even
try and do a trade deal with the with the UK.
Also interestingly, if you saw we just like completely walked
back the the lenses stuff, which kind of points to my commentary
about like focus on what actually happens rather than
what he said no. One's talking about it anymore.
Someone said, are you, do you still think Zelensky's a
dictator? And he said, oh, did I say that
next question literally word for word, Like, did I say that?
I don't think I said the next question, which I thought was
pretty funny. That is hilarious.
So yeah, focus on what happens rather than maybe what what he
says. It's very clear that he's happy
to change his mind and then bring people in after after a
big fight. But yeah, so that that was the
main thing that was getting people scared.
And and, you know, tech stocks have been really hammered during
this period. You know, we can go through a
range of different tech stocks here, but not not that pretty
for any of the major Magnificent 7 companies here.
And a lot of commentary around around Tester in particular
which kind of hit where it hit yesterday.
Is it lower again? No, it's up to 3% today, but
it's at 288. It was at 275 yesterday.
Things like micro strategy, obviously we've spoken about
this a lot, but that is down, down the 60%.
Oh wow, look at that. And that's the main thing that
you see people like trying to, trying to continue to like bash
crypto about the sailor. And that's going to be an
ongoing risk and all this sort of stuff.
We've talked about this so many times.
I don't think it's, I don't think it's a risk right now,
maybe in the future, but it's not right now to, to, to
actually even come close to liquidating him would mean a, a
sustained period of very low prices that would, that would
affect upcoming bond maturities. And I don't think, I just don't
think it's something that would really be a worry short term.
We're talking like under 15K. But what this may do is, you
know, that that premium has been massively, massively hurt.
And his ability then to raise more capital to buy Bitcoin has
been affected. And then people have been
pointing, you know, oh, he's the only reason crypto's higher.
Like he's the only buyer. I actually personally think that
at this stage, Sailor is is actually not been a net positive
for crypto. I think the amount that he buys
is is more than offset with the fear around what's happening and
that he is like, you know, this may not end well.
I wouldn't have said that a year ago, like, but now he he has got
himself to this certain this point where he's, you know, he's
raising money to do it. I think it's I think it's a it's
it's not been a net net huge positive.
So what I would say is that I don't really mind if sailor
stops buying Bitcoin. I've I said this on the show 2
days ago, like I actually I would prefer if he didn't like
he's had a good trade. I don't want I don't want
another scenario where a Black Swan can can really hammer
crypto and. It seems that that's what
they're holding over people's heads, right?
And they're trying to bring Bitcoin back down to its
average, which is around 69 K. That's what you get used to bash
crypto a lot, you know, and people the.
Main narrative right now I feel like the the the main Bitcoin
anti narrative is like that. Yeah.
And I think part of that also is just like a misunderstanding of
he'll get liquidated somehow if it goes down to his average
price. If you if you appear in 2022,
you know that like Bitcoin hung out below sailors average price
for a long time, a long, long time, it doesn't matter.
It would have to go down a lot more, a lot more for for for
that to ever become an issue. But so the average price isn't
just some level where sailor loses his Bitcoin.
No way. That's not how that's not how it
would work. And I don't even think you'd be
able to do that anyway. But that's that's why I'm a
little bit that is still there though.
Do you know like people, people are still using that against
Bitcoin. So I think that's partly why
ults are maybe slightly outperforming.
I don't know if you guys would agree with me a little bit here,
but I feel like the fact part of it's the ETF outflow is starting
to happen, right, because of the, the, the basis unwinding.
But I think part of it is like this fear around Sailor that
perhaps means that people and and ults having been already
crushed, right? That people feel like maybe
they're better risk reward trades.
Yeah, Bitcoins needs to be catching up a little bit right
now as you're talking, But you're right.
I mean, it seems like alts have really.
I mean, Osana was so fucking sold.
Like it's like battered last night.
Osana went to 127 guys, which was kind of the mark.
We've been talking about Mendo. I don't know if it was on the
show, off the show, but we have been talking about this 127
range here and that's good. I wish I got out of bed last
night for this. I was in bed chilling, just
watching. I bought a Zero and I bought
some Sonic just today this morning.
Because like it was grim, guys, I was, I was just in bed, just
like kind of like scrolling and like chilling.
It was just like lower, lower, lower than like salon was like
127 Bitcoin was like 7. And I was like, ah, I should get
out of bed. I think the Wiz.
I was like, what are you doing? He's like, yeah, I'm longing.
I'm like, I should probably get out of bed because like he, he,
he he's pretty good at catching these.
I was like, I should get out of bed.
And then I just, I didn't get out of bed.
It's OK. It's just poverty.
But we'll be back at 127 like after tomorrow, so it's fine.
What up Tyler? Do you, do you think 127 was
just a local low or do you think that's going to be our?
I don't, I had my mark at 1:27 because that was the previous
high that was so hard to break back then.
Like I remember it like last year or some shit.
But but I I don't know. I don't know.
I don't know, I think. I don't know.
Out of the gutter. There was some news this
morning, right? Specifically.
Around Solana that. We're going to get the CME is
going to start allowing Solana futures to trade.
Super positive. Which which the CME is, is a, is
a, is a commodities exchange. So that would imply that
Solana's commodity, it obviously would then lead to an ETF.
It may point to a, a, a, a sooner a filing, right.
And with that as well, you probably would get a lot more of
this sort of basis style trading on Bitcoin and ETH.
So that that will probably make funding cheaper for everyone to
do perp trading. Semi trader is the one that
launches it's. Not.
Funny, yeah. But but, but, but I think we
spoke about this yesterday, but I think Salon looked oversold,
which made it a good buy. But then you've got to when you
encrypt it, you got to think about like the next few steps,
particularly if you're buying an RSI like we spoke about it
yesterday. If you bought an RSI yesterday
like you, then it went down way lower on that RSI, right?
You might be up on certain things now, but but RSI is a
dangerous. Thing it's true, people were
saying RSI charts at 1:42. So that's it.
That's important to mention on the show cause Mando did say
like be careful, don't just trade the RSI.
He said keep taking into account but like don't just trade it.
RSI charts came out at 1:42 and we still dumped to 127.
So that that's quite a move. Tyler, what do you think we are
we're at here with Solan. I mean, I, you asked me like I,
I think, I think Solan is like the most oversold, the most
overheated coin here at this stage.
Like every time you talk about Solan, everyone's like, oh,
crime, crime, crime. I told you about the French
thing, for example. That's I'm not exaggerating.
Like people really hate Solana. Like, and even at some point I
was Max bearish. So because of after everything
happened, but 127, it's hard to be bearish.
This stage thing was 300 bucks. Come on, you know, there is
still like the it's not all just memes on soul.
Like, you know, I think thing is just memes on soul and just
crime is is also like there's two sides.
There's like over loving and saying yo, it's just soul and
there's also over hating it, right?
Like at some point there is some great things being built on
there. It's all over hated.
Yeah, sure. I'll start by saying I, I'm not
going to try to call bottom. I said in our group chat, I, I
really want to see crypto strong on a red stock market day.
I really feel better about where things are at right now.
But with that being said, it feels like everyone got super
bearish on Seoul at the bottom. It's down what, 6065% or
something from the top? And now I kind of think that
we're going to see a bullish unlock.
It would not have been a bullish unlock at 2:50.
That would have been tremendous cell pressure at 1:40 with CME
futures, the inflation reduction vote happening in a less than a
week. I don't know.
It's, it's a different situation.
And I think once you get past this massive unlock overhang and
it, and Seoul doesn't fall off a Cliff and then you see the
future's coming. And now ETFI was in the camp
originally I thought the ETF would come in Q1 and then it
became the, the bears were out there talking like, no, you're,
you're crazy. It's Q4 at the earliest.
I don't know, this government's getting shit done fast.
And I dude, these, these institutions are pushing this
stuff through right now. I think QQ one's still possible.
Why not? Why not?
I mean, it is definitely, but I mean, I'm sure we'll talk more
about the government because of the meme corn stuff yesterday in
your in your roundup. But this government is actually
getting done shit quick. Shit done quick with regards to
crypto. Yesterday had even more cases
dismissed. So I'm I'm sure we'll talk
about. So let's let's actually get to
your topics here, because I think it pertains to how the
market is reacting to to everything today.
I'm just curious about what you guys think about a little wicked
pomperuni on low volume because you know, no ETF to dump on us.
It feels like this week was just everyday ETF just hammered us
down. You know what I bought for the
first first time in a while today?
Let me guess what I was going to say.
Fart coin or mug? But what do you say we bought
mugs? Wow, let's go.
Fuck yeah. Thank God Mendel's buying mug,
lads. He wants to go is buying mug.
He wants to go lever to ETH after saying the ETH chart
looks. Yeah, what the fuck?
I I mean has has ETH had any bearing on MOG before That's.
True, MOG has been outperforming ETH like all cycles, so that is
very true. I mean, if you're buying MOG at
some point, you you bet it here, right?
Oh my. Goodness, I just like that
headline yesterday which is like meme coins are.
Yeah, you're right. You're right.
Let's get, I mean. When are you going to buy this
if it's not right now? It's right now or never.
It's very fair. Like at this stage, when you
look at a chart like that, where's Pepe at?
We're buying Pepe a bit too. Yeah.
Pepe. Also, Pepe is a three billion.
Wow. Mando's literally eating the dip
right now. What do you eat?
What is that? Oh, peanut butter.
All right. Nice.
Well, Tyler. This is not a Styx.
What's the CA for that? It's so crunchy, he has to mute
whatever he's eating. All right, Ty, let's go T and
crypto analysis folks. Crypto majors tumbled overnight
but are rebounding swiftly. Bitcoin back to 84K salt up 6%
on the day now. 14660 On the back of the breaking news we got
this morning, the CME to launch Soul Futures on March 17th, just
a couple of weeks away. Headlines were pouring in
yesterday, so Uniswap added a Fiat off ramp for the first
time, allowing users to swap tokens to USDC, then off ramp to
cash in the bank within seconds. Powered by Moon Pay, Robin Hood
in trans acts. That was huge news.
The SEC dropped cases against Coinbase and Consensus, 2 of the
biggest cases they had still open.
Those are now closed. The SEC also released a
statement clarifying their stance on meme coins.
And meme coins are not securities.
With a few exceptions, you can still commit fraud and you will
be prosecuted via meme coins. So it is not crime season.
Texas passed legislation for its strategic Bitcoin Reserve
through its Business and Commerce Committee.
Now on to the Senate. That will be a huge state that
we need to root for for that to pass and then bit Max reportedly
shopping for a buyer according to Coindesk and token AirDrop
protocol news more big headlines Metamask introduced a major
overhaul for their wallet, including native Bitcoin and
soul support, a new home screen UI abstracted gas, meaning you
could pay in any token smart account features and more base
use these flash box as a new method to enhance speed,
bringing their block time from down from 2 seconds to
milliseconds. Immensify Immensify is going to
drop their token, the mint token.
They share their tokenomics as well as launching on Solana and
then they're kicking off with the big reward season over there
as most of the news quickly on the on the rest of it AI was
down. The leaders were down about 10%
that that may have flipped. Now I don't have the board up in
front of me. Memcorn leaders were also down
about 10%, though I'm sure they're starting to V shape up a
a little bit here. NFTS mostly chopped abstract
NFTS keep cooking more green on the board.
And then a controversial one O 1 from Bato called the giraffe
sold for 54 ETH on verse yesterday.
So this one is either going to be.
Why is it controversial? Just wait till you see it.
We'll, we'll pull it up. I I saw it because it looks like
one of those the dyno thingy. It looks like something like 1/3
grader would put together and and it sold for 54 ETH, making
it probably a top 10 digital art sale of the year or so so far.
So this is either going to be one that's that becomes like a
very are. You telling me this is not worth
55 ETH? What are you saying, Tyler?
Yeah, Tyler, you. Probably say that.
What do you know about Art Tyler?
Apparently the back story on this is this was I.
I don't know if it was the first time, but I think the idea here
is that Bato used a new generative algorithm for this.
Brother. If you if you look at the if you
look at the wait, I need to smoke weed.
But if you if if you look at the contrast between the colors, you
know, the bottom is very dry. You know, this is very like it
shows like dryness, the lack of water, you know, would would
occur. This this looks to be somewhere,
you know, in, in in sub Sahara or something like that.
You know you have the giraffe and then you have the trees
which are the. It's a metaphor for the market,
I feel. It's a metaphor for the market
I. It's a metaphor for more than
just the it's a metaphor for life itself.
I feel, I mean, look man, on the top of this, it's like colorful,
joyful, you know, you have these hues.
These green dips, you know green.
Dips. I mean, if you flip it, this
even looks like the the chart of the of the longs.
You know, if you if you look at the you know, you know what I
mean. You know this one, it looks
like. Where's the long chart?
Where do you find it? Here again, Mendo.
It's. What do you mean?
It's the ground. Coin glass.
Yeah, it looks like the.
Where is it again? Fuck it.
Look at it funny. Yeah, it looks like a funding
rate heat map. That's what I'm trying to say.
You know, if you really look deep, this looks like a funding
rate heat map. And the giraffe is looking up
towards the sun. It's beautiful, Tyler.
Maybe 54 ETH was a steal. Yeah, I I'm thinking we should
have bought that. If you're not cultured enough to
see it, Tyler, that's kind of on you, my friend.
It's clear that I'm not, so we will see.
Shout out to Barack Cramo for his.
What the rat bought it? Yeah, Barack bought it for 55
ETH. The person is saying.
It saddens me. I still have to explain this to
some of my friends, but here it goes.
Bottle that was important. And that's by the way, this is
very true. I actually agree.
Like if you're buried bullish AI bottle was OG like in terms of
creating art bottle is that was important technology, blah,
blah, blah. There's a group of people yeah,
they're great. Look, bottle that was great.
Anyways, we're not knocking out bottle that by the way, we never
I just thought that was. Funny.
I mean, bottle is very cool. It doesn't mean that every
single piece that it creates is. Yeah.
Exactly. And and art is just and art is
subjective. So in that sense, I do agree.
Like, I don't really like that piece, but I love a lot of their
pieces, you know what I mean? It does seem like that somehow.
Fuck render at this gallery in Montreal.
I've been there. He displayed it so good.
Fucking Fred. Anyways, Tyler, go ahead.
Then we got some more breaking news this morning.
Trump wants Trump's coming for the metaverse.
The Megaverse. The Megaverse What?
He he filed a trademark for metaverse collectibles and a new
NFC and crypto trading platform. If that's not a semi top signal
I don't know what is. Dude last year of metaverse.
Last cycle metaverse was the biggest top signal ever.
This is giving me Facebook. Change his name to Meta Vibes so
we're not there yet. We don't need more crypto assets
from Trump, I think. I think we're we will.
Wait till you mint his other side version.
Maybe the other? Side Well, at least as Trump
Organization files for trademark for Trump to launch from NFT
trading platform. Because he he already has.
He has NFTS already. Oh, he loves NFTS.
He loves NFTS Oh my God. Anyways the the magaverse.
I mean this is also giving me like Facebook change his name to
meta vibes. That was the first thought I
had. Which doesn't mean you're at the
top because there was a way biggest bigger run after that.
Remember the whole narrative of summer last year?
It was like this is going to fly.
But when he mints a collection of 100,000 pieces of land with
100,000 more to mint on a theorem blockchain, it's not
everything. I'm buying.
Yeah, yeah, we. Do have your house next to have
your house next to Snoop Dogg, you know?
Other side Other side cooked for a second.
We just didn't sell our codas in time. 28.
They went to 20. 8th, 28th. The Dakotas 1 to 20 each.
Oh, yeah, yeah, yeah, Dakotas. Anyways, Tyler, there's another
breaking news quickly. I do want to talk about this and
then I'll. I'll give it to you.
It was Justin BlackRock adds its own Bitcoin ETF into $150
billion model portfolio universe just now like 30 seconds ago.
What is the? For the first time ever in their
model portfolio, BlackRock has a Bitcoin ETF in there.
So just more signal that you know, for them it's like really
like something to buy anyways. Tyler, what's the most important
stuff you got for us today? Motion is a lot.
Yeah, that's an interesting one. I, I think the Metamask news is
huge just because it has, they have so many users, right.
So they have clearly been working behind the scenes.
They announced this huge overhaul last night.
I think the biggest piece of this is now they've got native
Bitcoin and sole support. You know, I remember like the
challenges of having to set up X Verse and other Ordinals wallets
to hold Bitcoin and it did not feel good.
So I think for folks who want to hold those assets, that is going
to be welcome. They've got a new UII think the
abstracted gas is the other big piece here.
That was good, yeah. You'll be able to pay in any
token, so if someone sends you, I don't know, a bunch of MOG on
ETH, you won't need ETH in that wallet to be able to swap it.
It's so annoying by the way, that part in the 1st place that
you how always have to have ETH to like sell something.
The amount of times I've had to like transfer just a little bit
of ETH or like the other day Mando had to like send me like
dust to like buy a token. You know what I mean?
It's like. It's just just that's what the
that's what what's his face was saying, Andre on the show,
right? Like it's at the blockchain
level. You can get apps who pay the gas
for you. Like we can opt in.
I think they can do that on Solana and they can do that on
Sonic. I don't think, I don't know if
they can do it on Eve for that that one.
Yeah. I mean, as we think about the
user experience in crypto more broadly, I think that's one of
the major hurdles that they cast to get fixed and looks like
we're starting to make some progress on that front.
Perhaps the biggest unlock is going to be the smart account
features, and I haven't really seen any examples of what that
could look like, but that seems like 1 aspect of this that could
have arguably the most potential.
And then that Metamask credit card, it's sharp.
Very cool. Enough.
You have 1 though. Oh I I have the digital, I want
the physical. Yeah, yeah, I got you.
Down reply sections to to these posts to to try to.
No, no, we got you. So I was supposed to go to
Denver to pick mine up 'cause they, they made some for me
locks and I'm sure we, we got you, we got you.
But that they're good. I think Loxy went to their
events apparently was great. A lot of people knock you on
East Denver, but all the side events are actually packed and
there's a lot of good conversations happening.
I know for a fact that on a business level, like we've like
we sent locks last minute and like there's a lot being done
behind the scenes. Yeah, I'll say this was actually
the first year I had E Denver. FOMO.
Wish I I was there. It seemed like there's a There's
a lot happening there. The conferences themselves are
never like that crazy by the way, like anywhere you go in the
world, but like the side events and the biz you do face to face,
bar none. Yeah, totally agree.
The the other aspect of this meta mask.
So they changed their logo. The fox is winking.
Why is the fox winking? And they wonder.
And yesterday they dismissed the case.
The token's coming. I don't it's not going to be the
the mask token, but it's probably the linear token right
tied to there. So you think it's going to be a
linear token tied to Metamask over a Metamask token?
You know how to fart one way. I I am a linear user.
I have used linear because if you have that Metamask credit
card you have to put your funds on linea so I'm ready.
That's actually so smart. I know you were saying this, we
were talking about this yesterday, but a good way to
farm that chain is actually using the credit card.
So like for example, my crypto credit card is on Nosis chain,
but there's no Nosis AirDrop coming, but you get like cash
back. But like right now this makes me
want to get a Metamask card just to transact on Linea by buying
things. So that's for when the
inevitable AirDrop comes. You get it, you get it late.
I feel like that's actually smart.
Why not? The thing about these crypto
credit cards is like they don't, they don't impact your credit
score and they're all just like asset backed.
They're amazing. Crypto credit cards are amazing.
You can't just go spend 100K if you don't have money in the
wall. So if folks don't know how this
works, you basically you have to fund the wallet with USDC and
then you can spend against that effectively.
So it's more like a debit card, but it is a very nice way to be
able to spend your crypto assets in the real world.
Yeah, it's, it's actually pretty good.
I I'm excited. I'm excited to see what it's
like. I'm excited to get one.
I think they're really cool. So it's not about 3% cash back
in USDC. Not bad.
Not bad, honestly. A lot of these now it's getting
crowded. Avax has theirs.
Meme pay from meme lands that they've got theirs.
Yeah, Yeah, you can. It's, it's, it's not that like
we met the head of MasterCard in Paris.
It's cool. Like they're, they're really
like tapped in to the space. They love it.
I mean, it's good business for them, right?
The whole stable quiz thing, getting these just to spend
their crypto. I mean, remember you talked
about using crypto credit cards a while ago, right?
I've been using them for years. Yeah, yeah, forever.
It's I, I actually encourage people to get one and actually
like spend some of first of all, spend some of your fucking
money, man. First of all, like, you know,
like you got to like those infinite, those magic dollars
like are not going to, you know, we're also going to spend at the
casino. And second of all, it'll also
help you get a grip of what money's worth.
I think we get very desensitized to money in this industry.
And there's nothing like buying, I don't know, $500 dinner or
like, I don't know, something with your crypto or like a
talkie tickets or whatever you like.
And realizing that this is actually real money, you know,
it'll help you probably trade better because you'll have a
better understanding of the value of money.
Because I got desensitized for a second and I got my crypto
credit card and now I save a lot of money because I cash out to
my crypto credit card like every week a tiny bit, but still
something. So I think people should do
that. I encourage people.
To get. That's really good advice, like
I've said that for a long time. Like when?
You told me, remember you told me that like why am I get broke?
You should get a crypto credit card.
It's just good it like I pay for everything.
My my whole life is paid in crypto except for my rent, but
everything else is on crypto credit card.
So anyways, Tyler, that was big good stuff for Metamask.
I know a lot of people knock on like brand designs, but if you
understood branding like it's like little things sometimes
make a big difference. Like I see the difference in
Metamask logo as soon as I open the thing.
And sometimes you don't need a whole logo changes, just just
just Polish the thing a little bit, you know what I mean?
So hopefully we get some news there on the token front now
that they cooked the SECI, don't know if you want to talk about
that, but that was also big news, right?
Those were the other headlines. I didn't really dig ends.
I've kind of felt like this was all inevitable.
Yeah, that's easy for us to say for these folks who have paid
10s of millions of dollars in legal fees.
In hundreds of millions of dollars, Gemini said.
Hundreds. Hundreds Gemini the the
Winklevice said that it was in the hundreds of millions of
others spent in legal fees against CSC for crypto
companies. Oh, across everyone.
Everyone. Yeah.
Together. Yeah.
OK, that makes sense.
Yeah, now we have a Lubin announcing that they, they, they
were falling. They, they fought back against
the SEC and looks like they're going to have the case dropped
on the same day. So it feels like the writing's
on the wall. They're all going to get
dropped. And at the same time, it seems
like the SEC is going to switch gears and actually start looking
at those committing fraud. Yeah, 100%.
Let's talk about the other news, the memecoin 1.
I know you covered it, but that that was a funny one because the
timeline, as soon as they saw it, they thought, heads go crime
season's back, but hold your horses.
You can't commit breaking news. Crime is still illegal.
It is indeed so. Yesterday, the SEC issued a
statement. Clarify the application of
federal security laws to meme coins.
They concluded meme coins are not securities and thus they do
not require SEC registration. But they also did still warn of
potential fraud risks and actions that could be taken to
still be deemed as a security. So the the reason they they went
into it, their their rationale for why meme coins are not
securities basically applied to Howie test and said that because
funds are not pulled together and that price movement depends
on market sentiment, not the efforts of a central entity,
they are not securities. But they did say that not all
meme coins are necessarily exempt.
And if if one is structured in a way that mimics securities, like
promising returns via a managed enterprise, they still might
regulate it. Then they also caution that
fraudulent activity could still face persecution under other
laws, even though that they're not securities.
So I think this is first reactions.
We, we got the clarification we wanted.
It was a logical, reasonable document that I feel like just
welcome back to logic and reason here from our regulators.
It does raise the question for me.
The 1st place my head went was like OK so which of our meme
coins still might be securities? Sorry, no, sorry, it's not
considering a Libra. Well, I don't know about that.
I think Libra committed fraud, certainly.
No, but they said they didn't sell it as a meme coin.
They sold it as something to help the Argentinian government
and economy. They was totally the promise of
something. Yeah.
So for the Howie test, it's important at the time of sale
was being promised, right. So out of the top meme coins, I
don't think any of them at the time of sale, like you could
argue like Bonk now has a whole like ecosystem of trading blocks
and all that sort of stuff. But at the time of sale, I don't
think I I felt like largely none of the major coins were going to
be hurt. By this I agree.
I think, but what might get tricky is some of these like AI
investment dials. Yes, dials are different.
Yeah, they're different. Jelly.
Jelly would be an example of something that you you would
argue is not a meme coin in this Internet capital markets shut.
Down, Yeah, Internet capital markets definitely does not fit
within the definition if you ask me.
So but but like nothing. None of the major meme coins I
think are affected by this. You could you could argue that
some of the AI coins that were sold as meme coins might get
tripped up by this. But even then, like, it's going
to take so much time to argue that, like, at the end of the
day, I don't think they're going after anything, right?
But I would say like the major ones, let's go through them so
far. Coin no AI16Z originally was
just a meme of Marc Andreessen, right?
So I don't know actually, maybe it was originally an investment
Dow style product like that one, I don't know.
Probably the. Ark Ark you could argue yeah
Donna meme more of a security. I would have to look at what was
done when it was sold. I think, well, there's also
security in this utility, right? Well, well, it's more like.
Are they what are they promising you at launch?
Right. What did they promise you at
launch? Now these were all done on pump
funds, so there's no like. That's the thing.
Pump fund launch, you promised nothing.
Yeah. That's a security cell.
It, it, it's, I don't think they're going to come off to any
of them. And that and by the way, even if
you have a meme coin, Tyler, that by the definition is not a
security, doesn't mean you can commit fraud within that meme
coin. So PNDS like what that means
that Lily Portnoy thinking, oh, let's go now I can launch a
coin. No, like he's totally wrong.
What he was doing is literally loading up from multiple side
wallets, pumping it, then dumping it on people, then
saying he doesn't know who's dumping.
That is still considered fraud right?
I just want to make that clear. It's.
Fine, right? Fine.
I mean, yeah. And then they have to go and
prove it, right, Tyler. So this goes to the court of
law, blah blah, blah, blah, blah, blah, blah.
And we're not lawyers, so. What what seems legal now?
Like what's this point out? So like, if you were to launch a
throat coin, you could promote it as a, as just a collectible,
you could tout it and, and, and you could dump it and you'd be
totally fine as long as you didn't make any like false
promises that you were, you know, going to hold for some
period of time. Yeah.
So like that is now clear. What?
You could launch endless pump
funds now. You could be like a pump pump
pump fund dev that never tweets about shit and you can launch
100 coins a day. Why are we not doing this, boys?
Let's have a let's have a coin a day.
Well. Because honestly, I'll tell you
why is because there is actually the the code of the day should
be a meme coin. Yeah, yeah, epic.
Yeah, anyways. I can travel back to the US now.
Speaking, speaking, Speaking of codes, speaking, Speaking of
codes. The code today is rebound,
REBOUND, rebound. Rafflebot dot XYZ.
Come on. A crypto punk, lads.
Crypto punks. Tyler for the longest time
didn't want punks. He didn't even like punks.
He was talking shit about punks and then he buys a punk.
Another crash. Decimated.
Many such cases, many such. Cases.
Many such cases. God damn it.
Just kidding Tyler, we love you. I made a clear mistake and I've
seen people talk about making this mistake and I still make.
What's going on? You have a nice trade or for me
here was a nice air drop. And the next second.
Instead of taking the funds, sleeping on it, giving myself
some time to think through, I did the exact thing you're not
supposed to do when I impulse bot a a punk in the same day.
And. Had I waited seven days I could
have bought with the the perfect trade 3 2 for sure.
Wow, you could have bought 3 punks.
That's top range. And that's assuming that you
would have top Kaido. Yeah.
So like that two. Punks is.
A possible thing, but yeah, I could have basically gotten 2 if
I would have played it better. I don't think, just don't
overthink it, right? Lots of people have done shitty
trades over the last week and they included, I think, yeah,
you just did what you did. I think in a year's time you'll
probably be. Really happy not even but by
September you know what I mean? Like I.
I just mean in general, you'll remember having punk you you
know it'll be it'll be quite a cool thing to you'll have.
I agree. I don't eve eve like if you're
talking about me by a mug, I don't know if people are rushing
to buy a dot E badge right now. Guys, this is like we were even
saying like, oh, maybe ETH will look here good here with
everything going on Solana, but. I was there for a day, I was
there for a day, and now I was there for 1/2 of it.
Same. And when it went to 2800 the
other day I'm like, oh maybe then I'm like yeah let me hold
off and Bang Bang bang suck. Downloaded the whole fucking
clip on that thing. Code is rebound REBOUND rebound
rebound raffle bought the XYZ rebound.
You know I'll. Never do though.
Like it does feel as though there is a very vocal bit of the
community that just trashy I mean.
What Anthem is doing is little intense.
Like now he's playing for. Six months.
Not just him, it's all the hyper liquid guys, yeah.
Floods, yeah. It's it's a lot of other Solana
people to, it's kind of crazy to see like there's a lot of hate
on the timeline for ETH. Yeah, like stuff like that.
Like I get it, conferences are kind of mad, but like you also
like don't have to put a picture of what it's empty.
It is funny though when you read like this is a fact, right?
And that's pretty crazy. ETH is trading at the same price
it was during April 2021. If you bought ETH in April 2021,
you would be break even right now.
While bitcoins up 42%, QQQ is up 49%, salon is up 430%, T bill
yield is up 8%. Like even yield BU you know,
it's like T-bills, it's intense. Yeah.
I mean no one who bought hype outside of the 1st 8 days of his
existence is up on the turret well.
No, a lot of these guys made money on the AirDrop, right?
That's. That's the point, right?
But he actually had another tweet which made me think a
little bit more. Go back to if you go back to his
profile, he dunked on everything, right?
But he he dunked on Solano a little bit.
We should have him on. What's the other tweet?
Baby, he's he's talking about Solano like that.
We have just like accepted that we just got rugged on for many
months. Kaido, too.
Yeah, Kaido. Kaido is from.
The Maybe it's a day or two ago, Maybe it's a day or two ago.
They do tweet a lot so it's tough to see.
Yeah, there we go. Which one this?
No. Why have we received no clarity?
Who was doing all the sniping of tokens on Solana?
Why is the salon's community not banging down the doors asking
for explanations about who is inside of trading?
Clearly using material non public for Mason to steal from
retail. And the next comment was they
stole your money by promising you a version of events that
meme coins were a completely organic and fair playing field.
And when it turns out to be systematically set up, you guys
just take it, wipe your chin and walk away.
Maybe salon and manlets are as low T as Eastholders.
I actually thought this was. Is he wrong?
I thought it was pretty accurate.
Like why is nobody looking? For him is just kind of moved
on, like moved on from that kind of I guess they haven't moved
on, but like it does feel it's just like, OK, so we all just
got rugged for like a month and everyone just got decimated on
the Daily Runner shit. He has a point.
That was why are we not, why is, why are we not looking into
this? Kind of a all right the whole
story that meme coins were completely organic and fair
playing field was you know you're you're you're calling out
Murad here the memes that Murad was talking about were not the
memes that were launching on Meteora and opening at a.
Five. No, I think that's completely
different. I agree with.
That, yeah, I agree. I'm talking about the the the
January to February period. Like that last stretch of crime
wasn't like, open. Like it was just like, straight
up like crime or crime or crime or crime.
Like how are Yeah. Like when's where's the two?
For internal investigation, it was better to be Femwick and
then the onset of words. Which one?
You don't remember, Meow said. Oh, we're going to get in
somebody to do an investigation. Of course they didn't, bro.
Come on. Come on.
We're going to do. We're going to get in.
They all close, even even day one I was in Hong Kong and I was
the only one calling like three of us calling Ben Chow out on
the timeline because it was sucking his Dick because he's
the fucking founder of Meteora. I was pointing out Ben, I know
you're guilty. Like I was literally getting DMS
from people saying yo, this guy is guilty. 24 hours later he's
stepping down. Like you know what I mean?
Like they literally kicked me. Do you know, like the Solana
Boogles, you know that comedian that's like really Chad, Chad,
like the top, You know, Solana is super closed.
They kicked out a few members. That's public knowledge.
By the way. They put, they really kicked out
members of the committee for allegedly being involved in some
shit. Like that is pretty wild when
you think about it. That is the top community in in
Solana. I think this went all the way
up, I think. I think a lot of top protocols
in Solana probably were. They were all.
Involved, yes, Right. I like mail.
I think it's fucking funny, but I want to see more like they
were. This is crazy.
This is why I have so much trouble coming back into this
trade. Like I'm so like.
The tough thing about it, like I actually don't know a way where
they couldn't have a bunch of insiders for this stuff, right?
Like after Trump says, Hey, we want to do a coin and we need to
launch it on muturium. We need help doing it and we
need to do it with super. So like a bunch of people are
going to find that out. And then when when that becomes
the meta, when that becomes like, right, this person is now
going to launch one and they need to come like automatically
the platforms get to a lot of people get inside information
and the whole market is waiting for that as well.
Like they are waiting for that coin to come out each day that
the opportunity for abuse is just like, unbelievable, right?
Yeah, I agree. Anyways, I don't know, I'd love
to get to the end of this, but it's also the soul scan is
unreadable. So if this was on on the
theorem, like you'd get to the end of it in like a day, right?
No, I'm serious. Like it's a meme, it's a joke,
but like it's real, right? Like have you ever tried reading
soul scan? I think that's also part of the
reason why like meme corn traders who are down, like
they're just like accepting. It's like we all knew that the
game that we were playing for the most part and yeah, it was
more rigged, but but still like you, you lost a game that that's
all predicated on trying to find the the next hire buyer.
Does it not annoy you though that like clearly a bunch of
people at these top protocols made like 10s of millions of
dollars doing that? Yes, like clearly people like
even the final one made 100 million for one guy.
Right, one guy and he's off. By the way, what happens to put
him back in the chart? No chance.
No chance you saw from his exact reaction was about to happen.
It's crazy his whole family are cons like his.
Mom's a con all over the. Con.
His dad's a con. Like, did you see what Beanie
went into? Like his whole family are cons.
Yeah, it's a family affair. They're the Millers.
If. You pull that out, then you just
have to basically hate Solana because those they're all the
background of of Solana right now, right?
Like those are the that's. What I kind of work, I know Flo
is trying to like, he's actually trying to sew this like act.
Of course. Hate here like he he is trying
to do that. But on this, I thought it was,
it was kind of Fair. Like it is kind of crazy that
like we're just moved on and everyone in the community just
lost a ton of money over the last two months and, and
probably some a bunch of insiders made a ton of money and
and that's it like on a big game.
Yeah, The thing is like and everybody the main like.
Smaller, isn't it? Sorry I'm talking too much.
The main excuses are like, oh, but you knew that.
But it's like, so it still doesn't make it OK.
He's like, oh, we all knew slaughter the meme corn casino
was always rigged. It's like, OK, sure.
Yeah. But like, like this is like
wild. And if people are coming saying
NFTS were the same, so like, like, like, you know, that
person killed 5 people, that person killed three people.
Oh, but he killed less people than the other guy.
So like, I, I think like we're a little like redacted in this.
I swear to God in this industry, like a lot of people fell on
their heads when they were babies or something, including
myself. But I just don't understand.
Like you guys like what? Like, oh, he only stole 100
million. That guy told The Billion it's
worse, so. We can't have nice ponzis, you
know. Why can't we just have nice
Ponzis guys? I'm just going to go like become
AD 5 head on Sonic or some shit. Anyways, Tyler, do you have
anything else you want to touch on?
Open C at the end of the NFC cycle.
I know there's that shit with Nate, but largely if they had
been it been found out. Prison for $50,000.
Right. If they had found out that these
these actual platforms have been selling these NFS like really
hyped NFCS or got like a ton of whitelist spots and just dumped
them in the first minute, right. And everyone had been trying to
buy them, but like the platform got millions that those
platforms will be dead in the water.
Right, and someone just said something on pump font.
You're so right. Who's in the comment E Brink
Jupiter meteorite do all this, and yet we're mad at pump font.
Like at least pump font is like openly just selling these meme
coins, cashing out of the Solana front of your face, not even
hiding. I loans everywhere in the
timeline and you guys are like probably like just like happy
with meteorite and Jupiter like it's crazy, right?
You could argue I mean, and Jupiter, we're more attractive
companies than than pump fun here because they really preyed
on you. I won't come across as defeatist
because I'm not defeatist, but like, what?
What's this? What's an individual person
supposed to do? I actually that's not, that's
not my point. My point, my point right now is
that I think, I guess it is agrees with what we already said
in that Solana Sloan needs a little bit of a cleanse after
that. Like that's not, that's not
great feeling, is it, to be involved?
Isn't there's this like lake or water in India where you go and
bathe yourself in and you come out clean?
The Ganges? The Ganges, Yeah.
Yeah. I mean, let's pull this back a
little bit. So like we we're talking about
the CME future in the ET I. Don't think this is like the
Ganges. And I said, you're trying to
fuck in our, in our group chat. Like, all right, the the ETF is
coming. Now we just have to come up for
like, what? What's the thesis to pitch the
sole ETF buyers out there? Yeah.
Different, right? I don't know that I, I have the
articulated thesis just yet. So we, I think that's a part of
the cleanse. It's like, let's come up with
the the new thesis statement. The the first thing you want to
do is not buy Solana, but like maybe maybe I'll just talk about
this slightly from from my standpoint, because I've spent a
year now nearly a year trying to build up epic with lots of tons
of other stuff. It kind of infuriates me as well
because it's like people were playing that game and just
getting absolutely hoes and then now no, no slot.
I mean was just getting absolutely destroyed, absolutely
like annihilated. Now it's kind of ruined the
whole system. I don't know, it's ruined it,
but like, I would like to hope that, you know, things coalesce
around different projects, all that sort of stuff.
But it is it's, it's just like those guys have really ruined it
now. Yeah, I don't know.
The question is, are new market participants going to want to
get in on what's coming next? Like again, because the new
market participants that came in from the celebrities, the
Trump's, the Melanias, the streams and this and that, like,
you know, the people that brought it, because there was
some people on board like, you know, you can laugh at like the
streaming and the Aiden Ross's, but that's still on board.
Something like this stuff. They get so touts people's
curiosity, which brings them into the space.
Those people are all down a lot. Like I saw this tweet, this guy
was like, oh guys, I had 25 K at the top.
I'm a 19 year old now I'm 4K. Like these sweets are starting
to come out, you know what I mean?
Or the other guy I showed you guys saying that he bought MLG
all the way to the top using his bank.
And by the way, that's his own fault, right?
No, just going to say MLG. Don't go blaming banks and shit.
But I'm saying like, and now he's got credit card debt.
Like these tweets are coming out again.
It might what brings this people back to Solana.
It might not be Banks fault but MLG might be one of the worst
rugs for the whole cycle. Just to let you know.
Like this is bad when mainstreaming gaming seems they
can come in this. But like I think a lot of new
entrants came in for that coin a lot.
It was one of the more widespread coins right at the
end of the cycle And far Coin, I said I think did that a little
bit too, like a coin that went mainstream this cycle.
Far Coin Made went proper mainstream though I imagine the
two actually. Fuck me.
Wow that's that was the even wake here right?
The stream wig dude. It went out to 9 million.
I so true story, I was at the airport in Toronto last Friday
and I heard this guy saying yeah MLG hit my spot where I'm buying
at the lounge, Air Canada lounge.
That was funny. Yeah, I.
Mean how many tokens put printed that candle where it goes 30
million to 100. And 50 million, I mean this
exact pattern, we've seen it on every token at this stage,
right? So I mean, how are let's look at
like, how is something like pop what?
I didn't even look like. What's Popcat?
But Popcat, you had plenty of time.
Oh yeah. And you were up like only the
people who really round trip that one are down like that.
Was yeah, yeah, yeah. You had time.
You had many chances to stop Popcat.
Same with WIF. Same with WIF, see those the new
memes they die at this first done here like the old memes
for. 11 months so I didn't. I basically round tripped the
entire first cycle, but then we got a full second shot at it.
Yeah, see the did. The new memes never gave her a
second chance yet, but. So this, so going back to why I
bought MOG today is because I was like, it's not on, not on
Solana and kind of everything. It was.
Very bullish news for meme coins that yesterday, right?
Whether, whether you, yeah, you can't do crime.
But like, these are now here to stay, right?
Meme coins are now going to be something that we do for a long,
long time. And I think you're going to see
massive ones. So I mean MOG is the great
collectible. I like MUG a lot.
Cafe obviously is another one. There's about a ton of different
ones. You could, you can go and buy
Rex, obviously, but but I did it did make me think that yeah,
it's a it's not a bad time to consider those at peak.
I I liked Greenie's tweet. Was it Greenie because I replied
to it. He was saying that he, if he
were to play memes, he would play the 2023 sort of like
established memes. And you're talking like Pepe and
mug in there, right? And then all the majors forget
what he was. But I, I actually am much more
confident buying a bag of Pepe and Mug than like probably any
other meme. What do you think, Tyler?
It's up there. Don't.
Don't make him do it. Where is SPX?
Where? Where is the?
Where is the fable? Look at The Mirage mug.
I still like SPX over. Model no SPX is 2X still I
think. Oh, is it?
Yeah, it's 2X. It's literally 500 mil.
I'm impressed with this dude. Everyone's monkey.
I'm right. I want I kind of I I don't have
the capital to back this up, so I'm not going to do it.
But like, are you going to bet that none of that, none of the
Maraud memes make new all time highs?
Would you take that bet? No I wouldn't because SPX is a
just like less than like it's not that far from its Ath so
obviously when you think about it, zoom out.
Definitely not like SPX. Not that.
Though those are multi cycle memes.
All right, Yeah, like, especially just.
Three and he went a little too far calling for all time highs
every month and now he's kind of pushed that to like.
He's only getting bashed because of that, but his core thesis of
believing in something and holding is what this fucking
industry should have done. Like the difference with NFTS in
this meme cycle is that we believed in something so much
that you could hold a cool cat from .18 to 15 eighth at the
top. And you make life changing gains
over like a few months. And in the meantime, you have a
lot of fun building like a brand of reputation, community,
friends, et cetera. That meaning Kukats, that's one
of them. But like, so it was like 50 of
those right here. You got sold this dream of that
you have to hyper rotate and use this tool and this Nova and this
not and this No, I'm just naming tools like and Nova and the snow
sniper and you have to sniper trench, trench, trench.
Good. We were in retrospect, when my
friends, my best friends in Montreal, they my best friends
in life, texted me and said, Yo, let's trench tonight, let's go
to yours. Smoke weed and trench.
I should have sold fucking everything.
You know what I mean? It's the people that have been
begging to get into crypto for five years now that are telling
me, yo, let's hang out in trench.
I'm like, what does trench mean? Like George, if you're
listening, did I tell you this or not?
Motherfucker? My friend George, I love him, my
best friend. And he's he's not a norm
anymore. He's been involved, but he also
buys like majors. So I I think he's a smart guy,
but he was like, at this point was like trenching everything.
He's like, yo, let's hang out in trench.
I'm like George, what does that mean?
Trenching? I was like, let's go out, let's
get fucked up. Let's drink tonight.
I'm tired. You say no, no, let's go to
yours. And that's trench.
I'm like, what does it mean? You know what it meant to him
having Nova open. Orange is fucking Discord.
Frank bought this, Frank bought this.
Well, fuck, did I hit my computer's like, Frank bought
this, buy this, Frank this, bought that, buy that.
And I'm like, George, do you hear yourself?
And he was like, oh shit. This is like.
On Friday to me. I mean, I mean it was fun when
it was working man though like there.
Was Fridays I? Was slamming the fucking memes.
I made like 50K on a Friday night but that stopped happening
all year long dude you know? How wild is it to Dave Portnoy?
He got paid $5 million. Dave Portnoy, Like the guy who
like literally, I, I don't mean to be insulting, but he's only
relevant in white America. Like literally like the the
American chats were going off on like Tyler, Peter Jennings,
Jeeves D stuff. You guys all know him, so you're
trading his coins, whatever. But euro chats were just like,
OK, this is just going to rub, you know what I mean?
Like, I don't know, for once your reports were right.
To lose like, I don't know how people aren't just like, what
the fuck? I want $5 million.
Oh my God. Anyway, I think.
It's going to be a long time for that to to kind of come back.
That's that's, that's my long and short of it.
I think I, I wanted to linger a little bit, not just like move
on. Like, oh, there was what sole
memes are we buying? Like, I think it's fucking
ridiculous what just happened. And I think, I think people
will. I don't think.
Man lock in is $8 million. I think we need to, we need to
the new daily launches to to drop substantially and drop for
a while. Well, they are right, I think.
I think I remember that period last year, Mando, and how you
know that, but we weren't really like talking as much where Pepe
bled for like a fucking long time in the $600 million range.
Mando, remember that we held Pepe early.
We ran into building something, then it went down to like 600
mil guys and it bled for the longest time.
I have a feeling we may be going through that period now for
memes. This one, I'm talking about this
one. It was long.
It was long and they made everyone and the last people
stop believing aside for the Pepper Bros would believe like
people like Nifty Wap who then ended up making eight figures by
the way. So it ends well.
Like this story ends well, you know what I mean?
But if you look at fart coin, I think fart coin is like at this
stage or something like that. If you were to believe that this
cycle is not over, of course, right?
Like you need way more believe, you need way more chop here.
Like Sparkle needs to be at $300 million for like 3 more months
to make sure every single last person sells and then I'll go
back to 5 billion. Model is Q4 like I of course I
would love to see it in March, right like.
Yeah, but no, right, this is. Realistic Q4 seems like if it if
it ever does come back, I don't know if it is.
Maybe if you believe this cycle is not done, then you should
probably believe it comes back, right?
So here it was 478 days. What was that in months like?
I don't know but. It's nine months.
There you go. So we've been talking about nine
months from this. So it starts here, let's say 270
days ish. So you're in Q4 there, 250 days
like you're in Q4, right? I mean the the fractal on the
2021 cycle puts us majors peaking in November.
Memes probably peak a month after right?
So lines up. Yeah, but if you but form being
is be ready to go through this mentally and even if it's only
last three months or four months or six months, it's fine because
you'll be happier. But be mentally ready to go
through this shit. You know, I see bats in the
comments. Pepe Bros for life.
Yeah, he knows to get cooked, bro.
He probably made life changing money.
Why? Because he believed in something
for real. You know, it's like, I don't
know, I've seen it anyways. Well, it's 1110.
Look at that. Jesus, let me tell you something
though, some hopium for everyone, but on the business
side, shit's popping in crypto. I wrote about this this morning,
but locks is in in Denver right now for us on our behalf, on the
myriad side, the returns we're getting from investment firms.
I mean, he he was, you know, consensus is like pretty big on
our cap table, right, given that decrypt was spun out of
consensus. So he had meetings with Metamask
with Joe Lubin, Mike React, all these three saw Joe Lubin was
like working to crypt logo. He had meetings with a lot of
the top VCs and meetings with Tari and, and Naveen yesterday
in the Mando and, and stuff like that.
And it's coming. I'm excited for Naveen actually.
But just all I have to say, like and like everything's looking
very positive from the standpoint of founders.
And, and, and you know, Tyler, you always talk about CT versus
like institutional crypto. Like it's really night and day
guys. Like it's night and day.
Like I as a founder, I'm bullish to the tits, sure, as a traitor,
I'm not as bullish as I was like a month ago, but that's OK
because that'll come back up and I'll get your fork again.
Don't worry. I guess you know, I just decided
this year I'm not doing what I did last cycle.
You know I will stop bashing people when you know prices are
down because I'm a bullish bear. Bullish bull.
Oh shit. Oh shit, freedom slip.