Yo-yo, yo, what up? What up?
Good morning, Good morning, GMG Wednesday, May 22nd, 2020.
Four. Look at that.
Another beautiful day to have a beautiful day.
I got my coats in the house. Oh, we got, we got, we got a
new, we got a new person on screen.
Look at that. He's like, hello.
That was funny. Wave bro.
Thinks he's the queen, bro. I'm Tyler Sims.
Good morning, lads. How you guys doing?
Doing well sunny day prices are good.
Got a new camera set up. We're we're not all the way
there for those of you who are watching on the stream.
So we are going to keep improving the camera set up, but
we'll be back tomorrow. Oh, you.
You'll be fine. I, I.
But at least it's it's a new step.
I hear you got a new microphone too.
So I I I'm pretty jealous. I got to get my microphone
ordered. I got to.
I know you didn't set it up yet. But once we all have SM7BS and
we have the same set up, it'll be nice.
It'll be nice. It will be very nice.
But look at look at look at. Look at Tyler.
I mean, he's coming in. Chris, you know, I know we
haven't finished the settings though, but you got my mind's
coming in crisp here, crisp, obviously love to see it.
Sam's, look at that. We have our back end man in the
front end today. How you doing?
I'm good, I'm good, The markets are fantastic.
The weather outside is complete dog shit, so I'm I'm happy.
I'm happy it is pissing it down outside, so I'm happy to go to
the computer and just continue working.
It's so good. Yeah.
I mean, I wish I could say the same here, but but I can't
because it's the weather is absolutely fantastic here in
Montreal for once. So you love to see it.
Montreal summers are great and the weather is even better in my
favorite charts. Let me tell you guys that you
absolutely love to see price action.
So today on the show today, today, what do we got?
What do we got for our daily market report as usual, crypto,
macro, all that good stuff. We'll be chatting of course,
Ethereum, ETS. We won't be diving too, too deep
into the macro stuff, but we'll be talking, hovering over it.
Mando had a last second thing he had to do, so couldn't couldn't
be on with us today, but he'll be back on Friday morning.
You know, we'll obviously be talking of course, about the
bananas on square. There's bananas on bananas on
square now, you know, I know we talked about Nasman yesterday.
It's Square. The power.
So banana zone's the power of the bananas zone.
This is the type of shit that gets me out of bed in the
morning, You know? Like I I I I think I will make
Raul pal my alarm for the morning.
Maybe it's a little weird to wake up to the sound of another
man when I'm sleeping next to my girl, but you know what?
It's Raul though. Like, it's like, wake up, you're
in the banana zone. Like something like that.
He should do a cameo service. Anyways, point being, we'll be
talking about ETTS and whatnot. But then, you know, most
importantly, crypto tied, macro tied, tied, You know, all its
memes and dreams. We'll be talking politics today.
We'll be talking politics. We'll be talking about Donald
Trump. We'll be talking about Donald
Trump. We'll be talking about Joe
Biden. We'll be talking about Joe
Boden. I mean the the elections have
become very, very, very crypto focused.
So we have to talk about the, the the news yesterday for
Donald Trump accepting crypto, some rumours about Donald Trump
Bitcoin stuff this morning it's rumours for now, I haven't
confirmed anything yet. So we'll we'll touch over it,
but we'll see what's what. But there's a lot of stuff going
on, so obviously we want to cover what's happening.
Also like there's like a bajillion Donald Trump coins and
NFTS related to it. So I'm curious Tyler, what you
think of all that. So we'll talk about all this
stuff you have. You have Jupiter with some
really big news with tokenizing Rwas and trying to become like a
mega outlet for crypto which is pretty cool.
Oh BlackRock 19B4 update is in. There you go see it just
happened. I I have Eric Balcones and James
Safeharts notifications on so I just like and Nick Grassi I'm
like I I just get all the all the notives all day long so it's
pretty good. So we'll be talking about this
stuff and of course all streams and dreams.
I mean we'll talk about your favorite meme corns and we saw
Pepe yesterday go absolutely insane.
You saw Mark go crazy but obviously expected with theorem
running so absolutely love to see that.
Like I already mentioned you have all the tromp tramp Boden
all that good stuff zai had a having event you have Pew
winning the blast jackpot back-to-back.
When I told these he thought it was joking.
Tyler he's like oh you're kidding right.
I'm like no dude. Like I just thought on punk nano
59 he's like the the source now so I it can't be fake.
It can't be fake. And then if we have time, we'll
be talking or knows you know NFTS and all that good stuff or
not so good stuff. But maybe we talk about NFTS.
And then last but not least this show is powered, is powered by
our awesome partners over at moon Pay.
All right, so to buy crypto with PayPal, down the moon pay app.
And then of course once you do that, fair side network on X,
fair side network wallet coverage for drains scams and
more. All right, all right.
Without further ado I mean I would say let's get right into
it. But you know what I did download
the Tyler intro I think for daily NFT and crypto analysis.
Tyler T on FOMO. Our cause The kid can't.
Bring The Bachelor Bears dead. Just incredible.
We're going to bash some bears. I love how it's finished, but
we're going to bash some bears. Did you catch that?
But hold on, I feel like we got to give it another one for Jelly
NFT and crypto analysis Tyler did on FOMO.
Our calls. The kid can't.
Ready to bash some bears? That is so good.
I was wondering what this thing at the end, it's ready to bash
some bears. This is the roar of a bear being
bashed. I mean Tyler, what do you think
of your, I think it's the first time you're hearing it, what
what do you what do you think? Oh, I'm into it.
Yeah. This is my first personal
Jingle. How could I not not absolutely
love it. And yeah, bears are getting
smashed. JCC 6 is always.
So I didn't, we didn't text him. I think he just made it.
Yeah, absolutely. I text him.
He was already underway with it. I was like, wow, OK, you read
our mind. 6C6 Man, this guy's a legend.
This guy's absolute legend. So thank you.
Thank you J6. You're the absolute base.
That is. Tyler.
Talk to me. Talk to me.
What's that?
What's the latest on the on the on the ECTF right now?
Yeah, I grunst through a little bit.
I think the the main story here is the the ECTF just appear to
be imminent at this point in time.
We saw the news yesterday, the SEC told exchanges that it is
leaning towards approving the spot EE TFs and then on the back
of that I think five of the major ETF issuers have already
submitted their forms. So they're they're running at
this quite a bit and and now it seems like it it's going to get
approved. I guess the countdown is on like
is it going to get approved like in the next day on the news it
feels like crypto major's kind of chopping as this is all
getting set up. Bitcoin down a percent 70,000 to
20 ETH up half a tick 3740 sold us down a touch at at 180 in
London. They're already moving forward.
So the the Bitcoin and ETPS effectively their their
terminology they were approved for listing on the London Stock
Exchange. So those are moving on ahead and
I mean I think now we're all just waiting for for the
fireworks and we saw what Bernstein I think this this
large hedge fund 725 billion in assets says their ETH target
price post ETF approval is 6600. So that's that's a clean 2X from
here for Oak. I mean not gonna lie that's
that's that's fine if you ask me.
You know I I like it. I like it clean two XII was
texting the boys actually this weekend I was like you know I
think I'm ready to I'm. I'm I I, I, you know beginning
cycle you want your 10X100XI think I'm.
I'm about that stage where I'm I'm happy with 2X and and just
you know keep building my thing. I've matured.
Ladies and gentlemen. This is new me this is my
founder of art. It's president art.
So give me a 2X. I'm good.
So if you tell me Ethan's got a 2X, I got full stack ease, full
stack. So I'm at that stage of the
cycle. I mean, not all about you guys,
but it feels comfy. I mean, Sam's, Tyler, you guys
both have children, you have families.
I mean, hearing that ETH could just be a nice little 2X.
We're happy with it. But ten KS doesn't sound that
bad either. It doesn't sound out of the
realms of possibility as well. When we look at like the the
jump that it did just based off of the off of the initial rumors
like it's it's pretty damning. I mean that is a God candle if
we've ever seen one. I have never seen anything as
wild and as crazy as that. And like you got to think how
many people are kind of deep into this.
Like, I know we've had a fair amount of East food for a while,
but when you think of how much is locked up within BLAST as
well, like it all just got worth a shit load more.
Yeah, all of it. I mean Arbitron Blast base,
there's there's the TVLS on these, on these, on these L twos
just like just incredible. So I guess, I guess that that
was that's the latest. I mean look Tyler, I'm seeing my
talent here. Let me just go through my
notifications here because I got, I got them all.
I mean I let's go see what Eric Balkunas is saying right now
because it's actually happening live right now, right.
Because the market's open. It's like around this time that
you usually get all the news. So you have BlackRock, oh,
Blackrock's 19B4 is in. So you have black rocks, you
have you have so much, I mean you have always, I mean
yesterday James Safe Art was the big news right.
He says update it's happening like straight up.
They still have their all the 75% of predictions, markets are
still around 70. But he says it's happening, it's
happening. Sorry.
We have at least five of the potential Ethereum ETF insurers
that have submitted their amended 19-B fours in the last
25 minutes. So basically the big change was
that you had to remove staking. So I mean what do we think of
that Tyler of course like staking was always kind of like
a point to contention when it came to the SEC.
Prior to that they tried to actually put that.
That's actually one of the reasons why they came after
exchanges whether it was cracking or Coinbase etcetera
was after the staking part of of Ethereum.
Do we think that makes a big difference when it comes to to
the test in general, like the performance over time?
Yeah, I do think it's a big deal.
I think the the the primary draw from the folks that you know I
I'm talking to and hearing chatter about this is it's the
yield and that you'd be able to to to pull to earn off ETH from
the staking aspect and if that's pulled out it it is less
interesting and I still kind of wonder like what is the what is
the narrative what is the sales pitch for like if you've got
customers and they've got X amount of money to invest in the
Bitcoin ETS or the ETS what what is the sales pitch and I I'm
still not 100% clear on that. Yeah, I mean, look, it looks
like, oh, yeah, see, BlackRock confirms trash will not
participate in theorems taking that 6 minutes ago.
So that's gonna look. Maybe it's step one, right?
Like, step one is that Step 2 is abolishing the SEC.
Step three is just ball to the wall.
You know, 'cause there is a bill that's this game pushed out to
try and come after the SEC. It looks like Gary Gensler
really plays himself here, boys, right?
Like it looks like he tried to make a run against Crypto to
satisfy God knows who maybe Jamie Dimon or demon.
I don't know how you say it demon mommy demon is demon but
to satisfy the the lives of these people and it looks like
he kind of like to me I was thinking about this I was like
because all along and we talked about this on the show a lot
with OV and minors like why does someone who actually used to
show crypto actually algorand used to now so and I mean I
don't I don't want to call him smart because I don't think he's
that smart after all that happened.
But someone, someone has an education, right.
Who understands markets, right. He understands his stuff.
Like he's not that stupid is so avidly against it.
Right. So I don't know, like I I think
there was something and I think he tried.
He tried. I think.
I think he tried his luck and I think he failed miserably And
now it's like it's not working. Just so you guys know Justin as
well 3 minutes ago. And that'll that'll we should
just go straight into the politics part of this.
Because if there's no proof, other proof that this has become
a huge political task. Senator Cynthia Loomis.
We like her. Just so everybody knows we like
Cynthia Loomis. Team Cynthia Loomis, right?
Do we like her? Wait, I don't want to get
cancelled. Sims and I don't really
understand that stuff. Is she cool, Tyler?
Does she support women's riots? Yeah, we like Cynthia Loomis.
OK, cool. OK, cool.
Because you never know it's. Got to be careful these days, I
mean. I don't know.
Like her, her hard stance on every single political issue.
Cheerful in the USA because like, you'd be supporting
someone that's pro crypto but they hate women.
And then you're like, no, no, no, no.
I love women. I'm for women's rights.
And then you'd be supporting somebody else like, but he
crypto. So it's like, I've got to be
very careful here. I'm from Canada.
I know Grant Cardone tweeted yesterday that the USA should
annex Canada. We can have this conversation
another day. But I saw that tweet that was so
funny. Anyways But anyway so thank you
Lumas. She said there's a bipartisan
majority in both chambers of Congress in favor of crypto.
The future is very bright. I mean she this is a mall quoted
tweet right there. But what do we think here Tyler
you you talked about the bipartisan majority a repeal
voting to repeal that bill the other day.
This confirms everything you've been saying.
Yeah, I think politicians might not know much or everything, but
one thing they do know is what they have to do to get re
elected. And this has just become such an
important issue. Like I don't think we thought it
was going to be this this important in the 2024 election
cycle as it has really has become in the last one to two
months. And my read is that the pro
crypto crowd feels more strongly about the crystal crypto aspect
of this, this election cycle and the the party stances than the
folks who who just are on the fence about crypto or don't care
about it like that. They're not going to those folks
aren't going to change their vote because their senator or
House Rep is pro crypto like that's not going to be a big
deal to them. But it is a big deal to a lot of
young males in swing states who are pro crypto.
And it just comes to the point where let let's not alienate
that that base when when on an issue that's not to impact other
people who are on the fence. So I think they're they're
finally coming around to that which which you love to see can
I quickly come back to Gary Ginsler my my new favorite Gary
Ginsler working theory. This is a tinfoil hat theory
you'll come to learn from. I am a I've got a little bit of
a tinfoil hat arc in me is that he's a he's a double agent that
he's effectively he's always been pro crypto and he's just
coming in and botching all of these cases on purpose to to
effectively enable the path forward for for crypto in the in
the next you know 5 to 10 years. So I I don't, I don't fully
subscribe to that but that is that would be a funny outcome
all this because back to your point, it just it feels so
absurd from like the the lectures he was giving four
years ago to like. Goldman like the lectures he was
giving, Like it just makes no sense, right?
Yeah, It's hard to understand what his true motives are.
It seems like he was in Elizabeth Warren's back pocket,
and now the ties have turned against Elizabeth Warren.
And now we've got the the Biden campaign hiring a a meme
manager. We've got the Trump campaign
opening up the doors to crypto donations and like the
floodgates are open. Oh, I'm going to be an election
cycle. In case you guys were not
bullish enough today is like good news bonanza just then
again the White House will not issue veto threat against the
FIT 21 crypto bill. So the FIT 20 bill was a bill
that was like pretty anti crypto and and the White House is
actually not. No what was it It's there's a
better explanation. It's news the White House will
not issue a veto threat against FIT for 21st century act.
The crypto market structure overhaul bill being voted on
today flags concerns but no veto threat.
This is a huge win for crypto backers on the hill.
So it's all these little wins that continue to like become one
like pretty pretty important win over here.
So you know, I guess we can segue into the political stuff.
It's not like we haven't already but like between this between, I
mean there wasn't the block article that came from an
anonymous SEC news source claiming that it was a political
move. Nate Grassi who actually has
been providing some pretty good like coverage on the ETF.
As a matter of fact, he was he never said ETF would never
happen unlike like some others and like Jurassi, sorry Jurassi,
he never was on the side. That's never happening.
Set that. He doesn't really believe it is.
It is. It is it is that political.
But now you have Donald Trump, Donald Trump, that's starting to
accept crypto for his donation which is pretty smart if you ask
me, right? Because there's a lot of money
in crypto. It's it's very liquid.
I mean, what do we make of all this?
Is is Is the election going to be won over crypto?
You look at what was said over the the Biden meme creation of
thing and it was targeting more younger audiences.
Like I think when you had that Trump dinner with the NFT stuff,
I mean one he actually, I was stunned.
He even went through with it. Like it's incredible that he did
fully go through with it. People got to go there and meet
him, speak with him, have dinner and and so on and so forth.
But I think it opened people's, especially the American
political side when he mentioned over crypto and that if you know
I'm OK with it, you're OK with it.
Yada yada yada. A lot of people realize, oh
shit, this is an entire market that he's just won over by
saying this. You know, the metrics, the
social media, everything lit up like a candle in in the dark
like everyone soon realized Christ wouldn't be missing out
on this section for for such a a long, long time now.
And whether you know whether Gensler does have alternative,
you know, motions in the back is a different question altogether.
I think he certainly has a vendetta and whether that's an
angry vendetta for something not going right or not going his
way, that's definitely what it's been.
It's felt more personal than anything.
If it is all about taking crypto down or if he thought this will
keep me in power, this will keep me going for a hell of a long
time when in reality all he's done is burn every fucking
bridge going like within American politics.
They've they've dragged him and rightfully so you there to
protect people and all he's done is muddy the waters further.
No clear lines of laws regulations rules of what people
should be following. He's he's he's ass backwards.
What he's done is set up his ass backwards and he's dug his own
grave. And you know what happens from
here forth. I agree with Mando fully what he
said yesterday. You look at all these different
things all these dominoes that are now falling down 1 by 1.
They're throwing in the fucking towel.
They've it's it's open. The floodgates are open.
Fire away. What happens next?
I have no idea. This ETF will go live, and I
think the Super cycle we've all been promised is about to
happen. I really do.
That's where my head went, since it's if you believe in the meme
coin super cycle and all of the events that would need to take
place for that to happen. Well, huge, huge milestones are
happening in real time. We've got both presidential
campaigns in the US ahead of a major election cycle that's not
coming till November. Now pro crypto Trump is Trump is
accepting crypto donations, including memes Dosh and Shiba.
And now we've got the Biden administration effectively doing
a 180 on their policy, it seems. Now they're hiring a meme
manager. They're going to start launching
memes. Who knows if they start
accepting meme coins as well in donations down the line.
And I mean the 2nd, the 2nd that Trump does something with the
Trump token that he starts accepting it or mentions it at a
rally or something like everything is is going to level
up. And I mean it's like this is
these are the things that would that would have to happen for
that this true meme coin super cycle thesis to play out and the
foundation is being laid in real time.
Coinbase position themselves, right?
Coinbase, the application, actually, they could not accept,
but certainly you could view and and hold it all and look at it
all within your Coinbase app. Like if if there was an
American, a company that was the American consumer and the
average person, it's going to be Coinbase being able to do all
that. And then it lines up like you
look at everything that's lining up and then all of a sudden
phantom apps #3 on the App Store because everyone just wants to
buy this, everyone wants to get involved.
The casino is fully open for the average person and everyone is
taking full advantage of it. Like, I I truly think this is,
this is the start of it. It's gonna be.
It's gonna be interesting. Dude, this is like I I this is
great. I mean these headlines coming
back-to-back right now have direct effect on the market.
So not to bring it back to price action, but bitcoin's like
nearing back to above 70. K ish nearly there.
Ethan is back above 3700. So Lana's running today pretty
well at 181, was at 188 the other day dumped a little bit.
Of course like with ETH running so much like you got to lift
room to big daddy sometimes, you know so long as like that third
child, right. You got got Bitcoin, you got to
chill. You got to let you got to
Ethereum do its thing and then you got to get it's like a baby
kid, right. It's the third one.
So you got to, you got to let you know your big middle brother
kind of do their own thing and and and and and and do his thing
and then you have whiff. Now back above $3.
Been a minute last I checked. Last I checked, I mean the big
CT people were all saying whiff is is going to zero.
I don't know what happened there, but the hat definitely
stayed on. OK Did Tyler take his hat off on
the show? So far?
No. He's hosted like 6 shows with
us. His hat is always on.
OK, study that, study that. I mean all the all the, all the,
you know, Ethereum based meme coins are bouncing pretty well
with mark above 320, three, 120 million which is pretty wild.
It's actually really cool to see a coin go from 0 to $300 million
over a year. Like to witness the whole run
up. Like I this is something I've
witnessed this cycle and it's a lot of fun.
Same for Pepe. I mean, Pepe, it's like $5.5
billion. It's that's one of the craziest
things I've I've personally ever witnessed in my life.
So this whole bipartisan thing is big.
Let's talk about Donald Trump a little bit here, Tyler, because
this news also came this morning, right?
I it says CNBC seems like there's a there's an article for
it. But apparently apparently so.
Allegedly. I'll say here because I I have
to find the actual CNBC article. Trump campaign vows to build a
Bitcoin and crypto army so remember the Senator Warren big
corn army Trump. I mean let's Google it together
and see what's up. Yeah it is.
It is it is on CNBC it's here Trump campaign starts taking
cryptocurrency donations vows to build a crypto army.
So that's clearly going after the Democrats and center Senator
Elizabeth Warren's words which to build an anti crypto army
which was memed time and time over on the timeline.
So that's a big thing and you know it came on the back of
Trump accepting cryptocurrency for for for his donation.
And what do you, what do you make of that, Tyler?
This is, it's a pretty big fucking deal in a very harsh
sense. And if I'm not mistaken, it's
the first time in history in America that this is a thing,
right? I would think so.
I don't recall crypto donations being open in the last cycle.
I certainly certainly it was not this much on the forefront of on
voters minds and I think the Trump campaign they saw an
opening here and it really it was sparked from the the rally
down in Florida with the D gods holder wearing the MOG glasses
who who asked the the crypto question.
Like if you think back to the Domino's meme like the the the
one little domino that leads to the much larger one.
It feels like that was the small domino that really kicked this
all off. And now they realize that Trump
can be positioned as the the pro crypto candidate.
And even even if Biden and the Dems tried to kind of scramble
to to fix it feels like they're they're already losing that
race. And again, it's like this, this
election is going to be won in five states on swing voters.
And if Trump can win, you know, key votes because of a crypto
stance, he's going to go after that.
I got like, I guess to to bring us back to earth a little bit.
I think there's still a little bit of concern of like, is this
just pure posturing to win an election?
It is. It probably is.
And and so like what what would either candidate do in in 2025,
you know, after the dust is cleared in the election.
But I think that's all just speculation, No one really has
any ideas. I think this the the broader
aspect of you know, it becoming more more normal, more
mainstream and more attention on it, you know hopefully just a
net positive. Yeah, I mean, look, and I I've
since is it so weird talking American politics?
I, you know, I've always, to be fair from auk person, I've
always said that like when we go through schools and stuff like
it's one of my boomer topics. I would say like we learn about
ancient Greece. We learn about Vikings and all
this stuff like the past and you never learned about, dude, you
never learned about American history.
Like I've since when I started working with a lot of Americans
a few years ago, like I started look, you know, looking into
their histories, their walls that the back stories, the
presidential stuff. Like it's really interesting.
We just don't learn Jack shit about it in the UK.
And I've no idea why. But yeah, I think the the one
take away from this for me is by accepting crypto, he's
unofficially acknowledging it that it is a form of payment and
a form of currency, right. And I if he does get elected as
the next president, I don't see a world in which he can go back
on this because people have donated to him and supported
him. How can you go back on this now?
Like if he wins this, you are getting a president that has
openly acknowledged that this has a monetary value to it.
Yeah I mean that's I mean I we have heard we have seen right
childish some instance of people going back on on on stuff once
they were avoided. But you're right on this.
I think you're right on the sense that he they're kind of
like making crypto like a normal thing for normies and like that
like this the website likethedonaldjtrump.com website
literally itself like like that's the actual his official
campaign website just straight up saying now sending crypto
what are the what are the cryptos are that's it right.
They're accepting. I love this graphic by the way
it's so good. So it looks like they're
accepting Bitcoin, Karim, Solana, USDC, XRP, Doge, What is
this logo here? And Sheba?
But what's this one? Yeah, I'm not sure what that is.
I'm not too sure what. Let's see.
I'm not gonna donate. Don't worry everyone, but I just
want to see what they accept. I have to like.
Oh my God, I'm not gonna let's go over all this.
But it seems like they're accepting that.
So that's an interesting one. So what are we?
So we both made the post about this yesterday.
Tyler, on the back of this has the Trump.
So you have Trump token on Ethereum that ran, which has to
my knowledge been the first actual Trump was the one on ETH,
right. That was the first one to really
run 'cause then you had the whole boat in thing on Solana,
therefore you had tramp. So you have tramp and Trump.
But then I found out there's a Trump rune.
What? What are we doing?
Base Carbon said. It's like the cap coins.
It's like there's too many and they're eating off each other's
meal. And I don't think he's wrong
when he says that. So what?
Wait, wait, which Trump? Which Trump coin are you
supposed to buy when Trump makes shit like that?
I mean, this is the billion dollar question, right?
And I I I've been in so many political meme coin debates
regarding the Trump token, the trimp and Bowden.
Because do you remember for a while it looked like Bowden was
going to be the the winner. I mean I think there was a point
in time where Bowden, the number one of these three, it's since
dipped quite a bit for me. It's the Trump coin.
Trump coin on ETH is the clear number one.
It's his name. It's on ETH with the ETH ETFs
like there is no better set up than what the the Trump token on
on ETH has. And if I had to bet on
presidential candidate Trump name dropping one single token
in this election cycle and it's this one, right?
And. Plan on Ethereum, which is
getting the ETFs. It's more political.
I also thought so I I have a few friends.
I've been in this since the early days on.
I've never taken a a a pulley Fi bet this cycle yet.
I wasn't in board, in and out a couple times pretty good on
there, but not not like early or life changing money, just good
trades. But this is like, this is pretty
wild because like you're pretty much betting on the fact that
he's going to continue talking about crypto.
But he's kind of acknowledged that at this stage is part of
the race. And then at the same time it's
after his name. It just got confusing because
you have all these different coins because even now like this
is not me endorsing anything. But if I go right now on desk
Screener, the number one trading coin is this.
It's like another Trump related coin that came out five minutes
ago. Be careful.
It's like no liquidity, nothing. So it's not me but I'm just
saying like I'm and then there's MAGA here and there's mega and
this Trump like it's at the top here.
You can see all of them and they're all trending at the same
time, right. So it's like you got to be
careful here, but there's so much going on and you have to
I'll. Pop the disclaimer while we're
on deck Screen We'll pop. That up.
Yeah, pop pop pop. The disclaimer up, please.
But it's but it's. I find this absolutely
hilarious. And listen, I like the fact that
crypto has become this whole like political thing for the
reason that and I have as a crypto holder and you are all
crypto holders as well. Well, I hope so.
In the show and listening to show, we have the biggest asset
managers in the world pumping our bags on TV and our
politicians pumping our bags on TV.
This is like a dream setup. We don't even need influencers
anymore. It's over.
You don't even need like GCR
anymore at this stage. You're going to get like GCR
came clutch, saved us when we needed them the most.
You know, in the middle of like ballistic missiles, like crisis.
And GCR comes out, rises out of the ashes like a ain't like a
God and saves us, right? But now you have Trump GCR, you
have Democrat GC, you have Republican GCR and Democratic
GCR, and you have BlackRock GCR saving your back.
So you absolutely love to see it and it seems like it seems like
it's, it's a good feeling. Guys like you could just buy
their coins, make your conviction bets, and log out for
the rest of the summer and go enjoy, you know what I mean?
And seems like we're in good hands as the elections are far
out. Like this is going to last for a
long time and I fucking love to see it, man.
I feel so very. Quickly like it's just kind of
dawning on me but like this is such a big signal from the the
Trump campaign for those in mainstream America who who may
have thought up until now that that crypto was fake money that
it's just like this Ponzi scheme full of scammers and this is I
mean it is a big signal and maybe like so now you're you're
hearing your the Trump campaign talk about this buying campaign
is getting behind it. Now your banker is going to
start calling you you know once a month to say OK we've got
these shiny new ETS would you like to to start investing in
these And it's just it's more it's repetition it's becoming a
a headline that they're reading on a weekly basis.
It's normalizing it and it's going to open the door.
I mean all the people that all your friends even outside of
America where there's a UK where Sims is when I'm in Canada, like
it doesn't matter because like everybody on earth follows the
US politics because it's very important.
And like and The thing is all the people that in the past
questions like over Thanksgiving dinner like your your crypto
buys all of a sudden go because at the end of the day like
there's a lot of sheep out there and they only follow politicians
and traditional media and what is being said on there.
Right. So it doesn't matter how many
times Tyler will tell his friends in Chicago to buy Crypto
or me or Sam's in the UK, it doesn't matter.
It doesn't matter, right. Like your friends I'm sure have
not really listened to you. Right.
They listen but a tiny bit, right?
Maybe a tiny they bought $1000 worth of crypto, right?
Or whatever they could. Right.
But this I think is what makes people go over that edge.
This is what makes people go into see what we saw, whether it
was in 2021, whether it was 2017, whether it was in 2014,
like it doesn't matter the cycle you were in and this is what
starts a massive cycle. Like I still feel now like we
are at the rumbling of like November, December 2020.
I know DC talks about this a lot as well, like it's finally
starting to get see to get more and more clear that this is
where we're at. I know a lot of people compared
this last dip last month, Chris, to hear your thoughts on the
like the April May dip, like the May dip of 2021, but I don't
think we're this far in. Like I genuinely believe that
we're at the cusp of something big.
The reason I say that is because last time we had a mega dip like
that in summer of 21, all prices were already at highs, only
Bitcoin had hit highs. Ethereum is still 1000.
You know I'm I know you should put in percentage, but let's
just put it this way. It's still like $1000 away from
from all time high. Solana hit an all time high into
volume like a market cap. It's all not there and it's it's
a price unit bias. It's still not close to being at
all time high into the price. It was 260, right, 270 ish and a
lot of your favorite coins like still haven't hit highs, right.
So it's like I think we're at the cusp of it.
I mean what do we think like and you can segue into NFTS and
whatnot Tyler And then of course I want to talk about the
forecaster raise etcetera. But I think, like, you know, I
think that we're at the beginning of something quite
like a a massive paradigm shift because now it's become
political and it's it's it's much different.
I think there's there's still a chance we're in like the
disbelief stage of of this cycle.
I do not believe in the the left translated cycle.
I I just I I think everything that's building with the the
ETFs is too big for me to believe that this is all going
to be topping in November of 20/20/24.
I I just don't buy that. I think the cycle has much
longer legs and I I think it it's more likely it's going to
run for for multiple years then it's going to just going to run
for the next six months. So I I don't buy that we're in
the 5th inning. I think we're closer to like
second or third inning in all this, so.
You're calling it disbelief. I like that.
The other thing, the other day day, I thought we were optimism.
And then Benny Redbeard was like, Nah, hope.
So you're saying disbelief, I thought optimism.
Benny said hope. I'll settle for the middle.
I mean what do you think Sam's, what do you, what do you think
from your, I like to hear different perspective like what
are you from your angle, where do you think we're at?
I'd say hope also just because like you have that little mini
dip afterwards, I do think if it goes like the other, like the
other HFBTC, if we get this approved and it goes through,
you're going to get that little drop off, right?
People will sell into it. You'll become, if it's a slight
exit, liquidity, people will sell into it.
I think someone remember correctly, I were looking at a
chart and the same happened with gold.
When that went live it took a dip and then it just fully sent
it. Like I'm expecting the same.
I'm even like in my mind, I've been looking how do I?
Vander's always very cautious and I respect the man because I
listen to him quite a lot like how he is.
Does he swing his balls around? I imagine he does.
I truly imagine he does. And it's always warning, like
when you have these times of uncertainty where it's swinging
back and forth and you have these dangerously big wigs, just
go careful. But I'm thinking in my mind, OK,
how do I trade this? Is there a way that I can
somehow get into Ethan out of it before it dips?
Is there a way that I can try and find the bottom even on a
very very, very tiny amount of leverage?
Like, it's putting things in my mind, but I'm also of the other
mindset. Does someone come in and
slightly fuck it up for everybody, right?
Does someone put a stop onto it? We we've seen blacks.
Right before. So you're right about that.
But like, now it's like, who's going to put a stop on that now?
The people who were going to do this with the SEC and the
American government, the SEC's getting shafted every single
day, Gensler's in the bin and the politics are on board.
Like I think it was yesterday somebody, one of the
politicians, put laser eyes on their profile.
So that's Sir. That's everybody.
They're getting on board, and they understand that this is
what the younger generation enjoy seeing.
They understand that this is the Internet memeology and the
Internet freedom. Like they get it.
It's going to win votes. And even if Trump is abusing it
to win votes, it's still working slightly in our favor because it
means that the rest of the system has to get on board with
it. They have to chase that.
Biden knows it's up against the ropes.
Trump knows that this is a big ace card that he's pulling out.
Yeah, full send, Full send. Well send.
I like that. I like that.
I like the disbelief comment. Tyler, I I put a tweet out with
the chart and I wrote disbelief. I'm curious to see what the
people think. So if I pin it to the top if
you're on Twitter space it's just in one word pick a word
that's on this chart and I'm I'm curious to see where you guys
think we're at. So I I if you're on if you're on
XII just put the chart out. I I like I like this belief as a
word. You know why I like this belief
a lot, actually, Tyler, you made me think, you know, I thought
optimism, but then Benny wrote me back to hope, but he's seen
much, many more cycles than I have.
And then you wrote me back to disbelief because I genuinely
think because I was thinking about it from a crypto
standpoint, like a crypto native.
We do see hope, but I think from a normie standpoint, they see
disbelief. I think the normies are like in
disbelief right now saying, whoa, my president.
Because for them is Trump. Let's say like the the middle
American, like Republican voting Trump that doesn't like crypto.
Because for him cash is hard money, right?
Because he doesn't do. Yeah, he only believes in cash.
I genuinely think he thinks he's in disbelief right now.
I mean half the timeline thinks the top is in already like it's
it's, it's not, it's. I do not feel one ounce.
Like, yeah, I feel excited and happy.
But like Sims has seen me on the show, you will know when I'm
euphoric. The timeline has seen Farok
Euphoric, pouring milk on his head.
The Christmas ball will come back out, yeah.
The Christmas ball is is is not out the.
Christmas ball. I wonder if it's because like we
we ran through a euphoric cycle and meme coins already this
year. And I I do feel like a full on
meme coin cycle has already run. I think a larger one is going to
continue to run out, but like we saw whiff run from a new coin in
November to 4.8 billion. Yeah, so there are sectors of
the market who have gone full euphoric.
So I do acknowledge that. But for the broader entire
cycle, like we're at 2.6 trillion, you're telling me the
top is in at 2.6 trillion total. Like, I just.
I don't buy it. Yeah, I don't know I, I, I, I
agree with you. I mean 2 1/2 trillion dollar
crypto market is also nothing which is a joke.
I mean 2 1/2 trillion dollars like just companies in the USA
that are probably worth that. You know not that as a whole but
two companies together is like 1-2 trillion.
So it's like we're there. But anyways so that's that Look
markets are looking good. I mean I think everybody could
just chill right now like literally just enjoy your summer
like literally just literally do that like you know what I mean?
Like the the weather's starting to get good unless you're you're
where Sims is at but but you know we we we just like you just
got to you just got to make your bets and chill and even if your
bet is ETH and that's where you're most comfortable and like
you'll be fine. Of course NFADY you are on all
the good stuff but like the news are leading us the right way so
far. Unless unless but I don't need
to think about the unless anyways.
So in other news, in other news, in other news, I mean what what
else do we have? We had some again like huge news
on the crypto side. I mean you have forecaster,
right? You want to cover that maybe
Tyler, I mean there's a massive raise, massive raise on the
forecaster side, $150 million dubbing in a Unicorn company,
which means a billion dollar valuation.
It's it's huge, huge. What do you make of that?
Yeah, it really is huge. I think the the idea is they're
going to they're going to use the funds to grow the user base
and developer tools led by Paradigm.
It included A16Z in the mix as well.
It's a massive race right? It's I mean it's one biggest
that we've seen. It has to be the biggest in
social fire, right? I can't.
I can't imagine that that Frintec and racer raised more
than 150 million. But I I guess like I I listened
to the third guy's faces. He was a forecaster maxi and
power user and he's turned his back on the app who's partner on
Warp cast right Hasn't thread guy effectively turned his back
on Warpcast Thread guy. Yeah, but like my my entire read
on this is that the power users or the the not the power users,
not the builders who built Warpcast and forecast are from
the ground up. But the the folks, the more of
the ETH crypto Twitter guys who went over in the past three to
six months, I feel like they came and they're back to Twitter
already. I am one of them.
I so I I love forecaster and
warp cast. I love the idea of a
decentralized protocol built on the theorem blockchain which
allows for, you know, more freedom in a way when it comes
to social platforms and its interactions.
I think the biggest innovation out of all this was frames.
I genuinely believe Frames is one of the biggest innovations
in blockchain this year. Genuinely feel that in the last
year like I think and actually shout out to our partners at
Arbitrum. I mean now frames are are also
on Arbitrum, so you can do both base and ARP which is super
sick. So it's expanding.
That was as of yesterday. I think the news came out.
But like I think what forecaster allowed for growth in that
sense. I think that when you give
enough smart people and individuals the money, the
resources and the power to build something they will.
So that's why I like about forecast or the protocol itself.
Now we'll warpcast last we'll see, but forecast the Forecaster
client in the way of course that's what the core team's
working on like Dan Romero and everyone.
But you're right, like the people want to be met where they
are, right, even for that's what for all we're building
internally like with Content Plus and what we have coming up
next, it's all going to be on native platforms, but including
Forecaster. But The thing is now you're
giving them $150 million on top of that.
So Tyler, I'm assuming out of that they're going to be.
If they were smart enough to build this almost 70, a hundred
kdau with 150 millionaire War Chest could be interesting to
see what they do next. Like I know someone like Sam's
can't be bothered to go on forecaster because you're too
busy doing platforms. Other platforms work, right.
So that's I think when you get that layer of people to come in
and also people like me and thread guy, we're all in at some
point. But then like it's not.
I don't, I love it. I'm a huge fan of warp cast
forecaster. I just can't find the time to
also be on there right now. It's tough even for our team
internally, I'm not gonna lie, and we're a pretty big team now.
We built a a tool so that decrypt articles are are posted
on forecaster every day, forecast automatically and on
our radio side we try to post a bit, but it's tough because I'm
reaching the same people as heroes.
So it's like the employee that I'm putting to work on there,
his hours, I could put him on something else right now.
And then once it's big, I'm happy to deploy a larger budget
to catch up on time. Does that make sense?
It does make sense like so it's $150 million and there's there
are real builders building in this area.
So like I I don't want to come across overly bearish on this.
I'm just no, no one's being Twitter.
Twitter is the town hall. That's not going to change.
But if they can find a way to be unique, if they have the
incentives like they they'll be able they're they can definitely
figure it out and now they've got tons of runway and tons of
money to to make that happen. But I mean it it's like it's an
uphill doubt, right? It's it's hard to pull folks
away from Twitter in this space because that's where the
conversation is. Yeah, no, you're right.
I mean, crypto Twitter is the town hall, which is very
interesting. We think about it because a lot
of people say, love to say like, oh, like it became worse, it
became worse, it became worse. But we're still here.
So. So we'll see.
I saw, listen, we were down so bad last week that like the
theorem axis were blaming forecaster for ruining a theory.
Like let's not, let's not forget that people thought that
forecaster destroyed the theorem price action, all right, 'cause
it could control 1/2 a trillion dollar like, you know, asset,
right. So there was that.
But big Congrats. I I really can't wait to have
Dan Romero on the show 'cause he's he's actually that guy
that's like super busy so it's hard to get him catch him.
So I'll I'll ping him up again to get him on but that's it's
impressive man. So some news was there's a since
going permission in Sex October forecaster I've seen 250,000
paid sign ups and A50X increase in network activity.
There are hundreds of developers building on the protocol and a
growing number of apps and frames for people to use.
So again like for me it was frames like something like D
Gen. and D Gen. coin D Gen. tips and like the next 100 that
people are or higher these things would not have been
enabled on X. And I I really wonder sometimes
like is Elon just going to go the route of forecaster because
like I don't know why he's not like enabling tipping like the
the X thing is not enough like it's like no one like no ones
really making life changing money.
Like you have to be on some level of like engagement to make
proper cash for on on this app so.
You've also got to pay to be here, right?
You've essentially got to in order to not be choked in in
replies, you've got to pay it a level of money which essentially
is, you know, it's an entry window.
You you want a low level entry. It's what we've said for years
with crypto and onboarding normies like you need this
wallet. You need to go change it's
money. You need to go to this sex or
this decks. You need to do this, this and
this. Like now to do anything on
Twitter you need to have a verified badge.
You've got to pay for that verified badge.
I'm using your platform. We've spoke about this
previously. Like if I'm using a platform, I
am essentially your customer, but I'm also your product.
Using your platform gives you more numbers on it, but I don't
want to pay to win on a fucking social platform.
But it's also got to have an easy barrier of entry.
I know there has to be some sort of revenue, but forcing people
to pay to actually do it will drive people away, naturally.
I also found it ironic when all this came in.
At the start, you had people just by rating Twitter every
single day and putting them on blast while posting on Twitter.
It's like, do you not see the the irony there?
You're complaining about Twitter on Twitter.
Twitter. Always, always.
It's. But that's like this is the
beginning of times. It's always going to be like
that. I I think we're in this weird
phase for social social Phi. You were talking about this Sims
earlier but it's like a lot of this social has been taken away
when you put too much focus on Phi.
I mean on the back of that Tyler, what happened on friend
tank. I mean, what?
What was yesterday's red candle about?
We we were feeling so good just 24 hours ago.
Friend friended pumps over $2.00 with the Ethereum pump and the
clubs. We're all just rocketing and and
one of the biggest holders he went by MO he just naked his
entire bag. He did it in in seven clips.
I don't even know how low Fran got.
I think he he naked below $1.30 and not only that I mean he he
sold off all his clubs. So like the Hogman Crankerson
club had gotten up to like 2 like a $2000 entry.
Like to to 900 friend it naked all the way down to like 400
friend entry. So it it fell 50%.
Some of the other clubs fell 50% as well.
We did see a rebound in the wake.
I do think folks are a little bit perhaps more cautious.
I think today's a recovery day. I know that the folks yeah, I'm
in small circle a Frontech and Anonymous.
I think folks know him. He's a collector.
He's done a lot of things. He is a he is deep in these
streets. He's taking today off.
Yesterday was a little bit much and everyone's kind of in
recovery mode like let's let's see where this thing goes.
I said this to him yesterday like all I noticed all the clubs
even during this run up, he only had 600 unique members.
So like that that is a red flag like oh man, like I I've been
coming across bullish on Frintech and I still have a a
fairly decent bag over there but we're going to need more than
six or 700 people playing in this app for for this to have
any legs and right now they're not coming and and big nukes
like this aren't in the the cause And I think the other
harsh reality a lot of people may not know this Machi is like
a 7% holder friend like he has a massive.
He's the LP, right? Is he the biggest LP?
Yeah, yeah, he he's up there. He's he's at the top of the
list. If he decides to, if he decides
to sell it, it might all be, it might all be over.
So let's just hope that. I remember how that pre sale
went. Holding 7% is wild.
That is wild. That is a lot of money.
Anyway.
So that was that on the social Fi side, which which is
interesting, I mean and Fantasy top, I mean what did you what
did you end up placing in the rare tournament?
Tyler, I present something rare. Tournament is still going, so we
the comment did. Oh, the comment, Yeah, the
comment. Sorry, yeah.
Let me see, where did I end up? I finished 270 out of 10,000, so
I was decent. I was hoping for a little bit
higher. The rewards are kind of low and
so I saw complaints at the top end from folks who didn't feel
like the top ten got enough rewards.
I saw complaints from folks who were like in the mid tier like
in the 4005 thousand range, but the prizes weren't good enough
for them. So I think the broader reaction
in the market is folks aren't super happy right now in the
fancy top streets. And we saw I mean Zemeca posted
his price, his price updates. It's right across the board.
Everything's down. Yeah, I'm.
I'm OK like I'm comfortable holding through all this because
I always. I went into this with the
mindset I'm I'm playing for at least the next month until TG
and then we'll re evaluate there.
My one gripe I got to call out pancakes bro.
I think he was on the show last week.
The guy went silent. He didn't tweet, he hasn't
tweeted, he hasn't tweeted for the whole rare tournament which
I guess is just shining a light on how reliant we are on on
folks personal wins during these three and four day tournaments.
But but that's been a little tough to see.
Listen Blast is gonna give fancy Top a ton more gold and when
everyone sees that they're all gonna come back but that that's
my stance. But it might be a little, might
be a little choppy until then. Yeah, it's it's it's always like
I mean I I'm not really worried about it and I think it's the
way to do it. Like Travis was talking this
morning about some like waiting for cars burning etcetera like
these guys. I think I think we're dealing
with founders who understand Ponzi nomics pretty well as well
and understand like the way like things go and they've studied a
lot of the social fight stuff. So I'm actually, I'm actually
really bullish on again like like I was saying I'm a
forecaster like I'm really bullish on Dan Romero now
equipped with money to be able to build something great out of
the social fight or in the social fight arena.
I actually think the same of these guys.
Like, I think it looks like they they they they get it and like
although just trying to make it so there's a layer on top of
Twitter for you to be able to like win money and play cards
and play games. That may be like expanding it to
outside of CTE down the line this and that.
But they ship fast. That's what Pac-Man was telling
them yesterday was tweeting on the time.
It's like these guys shipped. They're like sharing with people
fast. They they they ship product
pretty fast in the meantime. So these are things that you'd
like to see. I think in this space also like,
we tend to not give people enough time to cook.
Like it takes a long time to build a successful business.
Like, we're 2 1/2 years in. Like none of this comes quick,
right? And then you're going to see a
lot of good things happen like, oh, shit, that came fast but
didn't. And I think it's like fantasy
top is what, two months of test net and like a month of full
launch, maybe same for like forecast or broadcast, like
forecast. So yeah, a lot of people were
early and early on, but it really popped like recently.
So like, you know, it took years for Jack to actually build
Twitter up or for Zuck to figure out meta with Facebook and
Instagram, etcetera. So it's like these things take a
lot. It took so much time for the big
traditional media companies to become the massive traditional
media companies of this world, right.
So I think I think we're like distorted because we live in
cycles in this thing and like we have founders that don't build
in cycles. Like I'm not going to build for
two years and then take a break for two years, right.
Success of the cycle is I'm gonna build for that whole four
years. So it's like, I think, I think
there's that too. Sorry, sorry to break you off.
Just look at WhatsApp. Is there new news?
Am I missing something? Hold on.
Watch your guru. OK, I got A tag.
What now, President. That is great.
That is just amazing. 10:51 AM. It's, it's it's good news.
Bonan. I mean, don't even be sorry for
that. This is great, Justin.
President Biden's administration says it's eager to work with
Congress to create a balanced regulatory framework for digital
assets. I mean, send puppets to 15
Bitcoin, bro. Send crypto punks.
Send. Oh my God, It's good news.
Bonanza today. When when when your notes are on
the table and things are going sideways, they give in to all
that. I mean that that is crazy to
say. He's always somewhat been
against it and like looking for ways to kind of shut it down Now
when votes and backs up against the wall, you know, maybe we'll
we'll have a look at it now because it's it's causing us
problems like fucking Hellboys. It's absurd when you see it,
like when you see it from the mindset that you understand
because this is a sector that we are experts in, that we show up
for every day. So we've we've seen how this
campaign has shifted their policy and now it's it's clearly
what their motives are. But man, this is a like I I
really, I truly felt like the US government was the final
roadblock for for crypto mass and what they potentially were
going try to shut it down and now it looks like that that's
gone. Dude, this is like, dude, we
love the LARP stuff. My friends like fucking LARP.
I'm like, we love the LARP dude. We love, We love the dead.
We love, we love that we like if there's a LARP comes in tries to
like grift out of the the space and stuff.
Yeah we don't like that. But if the US government is
trying to LARP on crypto to win an election be my guest.
You know what I am now USA Mexican.
I, I, I, I am switching my stance on the US politics.
You know I've been very vocal about Canada, US, the western
world being like anti crypto. I am now support in support of
the USA States of America. You know God bless the queen or
whatever you guys is like thing is though you don't have a queen
we do or king that is you know Sims not share a king but but
dude wow wow what I mean what no better way to end it.
I just saw the time. I know we're on time.
I think you know I know the ordinals are racing in a 0
Tyler. I know NFT is not doing so great
but let's keep that for tomorrow because today today is such a
good day. The sun is shining everywhere.
I think that also the digital assets news is actually positive
for digital assets in general. And I do think that the whole
NFT cycle, you need to let people cook first.
Like pongs didn't go to 400 K and apes didn't go to 400 K
either until people were already rich from these meme coins and
altcoins and everything. They got to let people get rich
first, right? Like you got to let people make
money to spend the dumb money. And you know, because sadly the
truth is a lot of people you see make money here are probably
going to spend it back all into the ecosystem.
True story happened here in 2021, right in front of you.
So it's going to happen. But yeah, Tyler Sam's, I think,
I think this was, I think this was a a good, a good, a good
roundup. It was good.
Day good day. Love it and we'll talk more.
Blast. Specific stuff.
And and and and and and specific stuff.
Oh shit, I'm not here tomorrow. But you know Tyler, whoever
Tyler brings, Tyler, Tyler is going to bring some people up.
So that's going to have the show still goes on tomorrow, but I
will see you all on Friday. Of course, for the robot spins,
right? Of course, Of course.
So anyways, anyways, with that, with that, with that, we'll see
all tomorrow morning, 10:00 AM Eastern Standard Time for the
episode of Formal hour on our radio.
Let's go.