1 00:00:00,600 --> 00:00:06,680 Good morning, good morning GMGM everyone. 2 00:00:06,680 --> 00:00:12,520 Welcome to another episode of Homo Hour today. 3 00:00:13,520 --> 00:00:23,320 Today is Tuesday, February 18th. It is freezing cold in Chicago 4 00:00:23,520 --> 00:00:30,240 today, folks -5° feels like -13 about as bad as it gets. 5 00:00:30,280 --> 00:00:33,720 It is cold. Solana feels cold. 6 00:00:34,040 --> 00:00:37,040 Ice cold. As sellers are racing to the 7 00:00:37,040 --> 00:00:41,080 exits this morning, as the fallout of this Libra and 8 00:00:41,080 --> 00:00:43,800 broader meme coin scandal seemingly gets worse, The 9 00:00:43,800 --> 00:00:47,720 question is, is it over? Is it overblown? 10 00:00:48,040 --> 00:00:50,680 We're going to break that all down on today's show. 11 00:00:50,680 --> 00:00:54,240 Farouq is still out. He is out all week in Asia at 12 00:00:54,240 --> 00:00:57,000 some events. Amanda will be joining us later 13 00:00:57,000 --> 00:01:00,000 on here in a minute. We do have Logan on here this 14 00:01:00,000 --> 00:01:02,360 morning. Logan GM, How you doing? 15 00:01:03,080 --> 00:01:05,840 Hey, good morning, Tyler. I'm doing well, freezing cold 16 00:01:05,840 --> 00:01:10,080 here in Central PA as well. Not quite as cold as those temps 17 00:01:10,080 --> 00:01:13,480 you're enduring, but I'm trying to stave it off as well. 18 00:01:13,480 --> 00:01:16,120 And maybe the market will heat up at some point, warm us up a 19 00:01:16,120 --> 00:01:18,200 bit. But it was a a long holiday 20 00:01:18,200 --> 00:01:20,160 weekend. Were you able to unplug a bit or 21 00:01:20,160 --> 00:01:22,000 were you still somewhat connected? 22 00:01:22,400 --> 00:01:24,160 Yeah, I mean, still somewhat connected it. 23 00:01:24,160 --> 00:01:27,240 It's impossible to get all the way away, but I like to stay 24 00:01:27,240 --> 00:01:31,120 medium bored, so, you know, try to keep my finger on the pulse 25 00:01:31,120 --> 00:01:33,760 to a certain degree. And of course, this weekend, for 26 00:01:33,760 --> 00:01:36,560 anybody who tuned in yesterday and I'm sure for whatever we 27 00:01:36,560 --> 00:01:39,560 talked about today, lots of things happening. 28 00:01:39,560 --> 00:01:42,960 So it was almost impossible to completely remove yourself, 29 00:01:43,720 --> 00:01:45,680 although it may have been a good time to do so. 30 00:01:46,480 --> 00:01:48,720 This might be a medium board market. 31 00:01:49,240 --> 00:01:53,760 Time for you to dig out the the old guide there and get it back 32 00:01:53,760 --> 00:01:57,000 out in front of folks. So what are we talking about on 33 00:01:57,000 --> 00:02:00,240 today's show, folks? We'll do a market report, talk 34 00:02:00,240 --> 00:02:04,960 soul bleeding, talk this contagion from Libra and the 35 00:02:04,960 --> 00:02:07,640 scandal getting worse. Then we'll flip gears. 36 00:02:07,640 --> 00:02:09,000 Other A lot of news broke this morning. 37 00:02:09,000 --> 00:02:10,600 So we've got the hyper EVM launch. 38 00:02:10,600 --> 00:02:13,840 We've got Jupiter pushing its buybacks and abstract exploit. 39 00:02:13,840 --> 00:02:16,440 We'll talk about what it is, how contained it is. 40 00:02:16,440 --> 00:02:20,360 We're going to talk about Google integrating Bitcoin into Web 2, 41 00:02:21,120 --> 00:02:25,280 open C, changing their farming program, Devin responding to to 42 00:02:25,320 --> 00:02:27,400 early feedback and making a quick pivot. 43 00:02:27,640 --> 00:02:30,720 We've got new details on the same spread, masquerade, monad, 44 00:02:30,720 --> 00:02:33,760 test net and more folks. We've also got Robit spins, 45 00:02:33,760 --> 00:02:36,320 double Robit spins. We are back today, so make sure 46 00:02:36,320 --> 00:02:40,680 you stay tuned to the end of the show for that. 47 00:02:41,760 --> 00:02:44,440 Before we get into it, shout out to our partners starting with 48 00:02:44,440 --> 00:02:46,960 Galaxis. Galaxis is a Web 3 platform 49 00:02:47,400 --> 00:02:50,960 empowering creators and brands to build unstoppable communities 50 00:02:50,960 --> 00:02:52,880 with full ownership and independence. 51 00:02:53,240 --> 00:02:57,320 Trusted by icons like Donald Trump, Steve Aoki, Mike Tyson 52 00:02:57,320 --> 00:03:00,440 and the NBA, shaping together the future of engagement. 53 00:03:00,880 --> 00:03:04,560 And every day we see people's walls get drained. 54 00:03:04,560 --> 00:03:07,200 Fair side, it's about to launch the fair alternative to 55 00:03:07,200 --> 00:03:10,280 insurance for crypto scams. Check out at fair side network 56 00:03:10,680 --> 00:03:13,600 on X. If you get drained, you won't be 57 00:03:13,840 --> 00:03:16,160 wrecked. Even more applicable today, 58 00:03:16,440 --> 00:03:18,800 sadly, but shout out to fair side. 59 00:03:18,800 --> 00:03:22,200 We love our partners. All right, let's get right into 60 00:03:22,480 --> 00:03:25,240 our market report. I won't go deep just in case 61 00:03:25,240 --> 00:03:28,400 Mando does stop by here in the middle. 62 00:03:28,400 --> 00:03:32,920 I'll go across here's some of the majors get the screen share 63 00:03:32,920 --> 00:03:35,760 up and running for those in the stream. 64 00:03:35,760 --> 00:03:40,200 So folks, majors are red this morning Bitcoin down a percent 65 00:03:40,560 --> 00:03:45,640 95,650 Ethereum down 5 percent 2690. 66 00:03:46,520 --> 00:03:50,320 Let's see XRP down about the same B&B down 4% and then Solana 67 00:03:50,320 --> 00:03:54,760 is the big story. I think here Solana down 9% one 68 00:03:54,760 --> 00:04:03,000 it's now sub 167 and if we zoom out here, so it was touch over 69 00:04:03,000 --> 00:04:06,680 200 on Valentine's Day. So this one we were getting all 70 00:04:06,680 --> 00:04:10,600 bulled up Friday afternoon hours before the the the Libra 71 00:04:10,600 --> 00:04:12,240 situation. What played out it? 72 00:04:12,240 --> 00:04:16,519 Was almost 300 on basically a month ago today, right? 73 00:04:16,519 --> 00:04:18,640 That would have been Trump launched or like close to that. 74 00:04:19,320 --> 00:04:22,360 Yeah, we're coming up. So a month ago it was over 27. 75 00:04:22,560 --> 00:04:25,840 It was lost $100. That's a lot. 76 00:04:27,080 --> 00:04:29,960 So in market cap turns, I, I actually, I pulled that out for 77 00:04:29,960 --> 00:04:33,800 the newsletter this morning. It's, it's down 50 billion in 78 00:04:33,800 --> 00:04:38,720 market cap in the past month. So the market cap for Solana 79 00:04:38,720 --> 00:04:43,520 right now is 81 billion. the FT VS right at 100, down from 130. 80 00:04:43,520 --> 00:04:52,000 So a full 40%, basically a 40% reduction in in market cap and 81 00:04:52,000 --> 00:04:55,120 it's it, it's hitting across the ecosystem, right. 82 00:04:55,120 --> 00:04:58,920 So we, we've talked about JLP on this show quite a bit. 83 00:04:59,000 --> 00:05:04,080 I think JLP is holding up stronger certainly than solar 84 00:05:04,080 --> 00:05:06,080 because. Of the the Bitcoin component. 85 00:05:06,160 --> 00:05:08,280 Right. The stables, stables are 33% 86 00:05:08,280 --> 00:05:13,440 Bitcoin's a huge chunk of it. So JLP is only down 15%, well, 87 00:05:13,440 --> 00:05:18,560 so quite a bit more. So you do it is behaving like 88 00:05:18,920 --> 00:05:21,920 somewhat of a safe haven there for those who still want to have 89 00:05:21,920 --> 00:05:26,400 some exposure to Seoul. It looks like we've got Mando on 90 00:05:26,400 --> 00:05:28,600 with us. Mando, I guess, Yeah. 91 00:05:28,840 --> 00:05:31,360 How you doing? I'm doing OK. 92 00:05:31,480 --> 00:05:34,040 How are you guys doing? It felt like it was Black 93 00:05:34,040 --> 00:05:36,360 Tuesday when I woke up this morning. 94 00:05:36,360 --> 00:05:41,680 It feels like a maybe a little less dark as the day is going 95 00:05:41,680 --> 00:05:45,400 on. Feels terrible man, even hype 96 00:05:45,440 --> 00:05:49,040 hype, right? I was actually what really set 97 00:05:49,040 --> 00:05:51,240 me off this morning is like oh this is going to be a bad day. 98 00:05:51,480 --> 00:05:56,360 When Hype launched its EVM it briefly Wicks to 28 and then 99 00:05:56,360 --> 00:05:59,840 instantly sells off like oh God. Yeah. 100 00:06:00,280 --> 00:06:03,720 That's. Yeah, dude, I've been looking at 101 00:06:03,720 --> 00:06:05,440 stable coin strategies a little bit today. 102 00:06:06,280 --> 00:06:07,600 That's not that bad. We are. 103 00:06:08,920 --> 00:06:12,040 Oh, no, But that's. Tough if we want to share it. 104 00:06:13,040 --> 00:06:16,080 Yeah, or let's get right. Into some crazy stable coin 105 00:06:16,080 --> 00:06:18,880 stuff. All right, let me if you guys 106 00:06:18,880 --> 00:06:20,960 are just like, you know what, I've had an absolute enough and 107 00:06:20,960 --> 00:06:22,480 you still have some D Gen. stuff. 108 00:06:23,320 --> 00:06:26,880 So drift, drift, you know, drift on, on Solana. 109 00:06:27,200 --> 00:06:30,040 Yes. So they have introduced 110 00:06:30,040 --> 00:06:32,640 something called Vault recently, which basically allows you to 111 00:06:32,640 --> 00:06:38,080 invest in different strategies run by like hedge funds or run 112 00:06:38,080 --> 00:06:39,560 by different protocols in the space. 113 00:06:40,480 --> 00:06:44,480 Maybe I'll just I'll launch app and this is if she wants to stay 114 00:06:44,480 --> 00:06:49,320 on Solana present. Let me share my screen on Drift. 115 00:06:49,960 --> 00:07:00,200 OK. And if you go to the where is 116 00:07:00,280 --> 00:07:03,160 it? Or maybe it's vaults, This is 117 00:07:03,160 --> 00:07:04,600 drift, right? Yeah, Earn. 118 00:07:06,520 --> 00:07:07,720 Yeah, Earn volts. Here we go. 119 00:07:08,960 --> 00:07:11,360 So what have you actually been looking at? 120 00:07:11,360 --> 00:07:18,120 You know, I love the JLP. There are people that are doing 121 00:07:18,120 --> 00:07:20,600 JLP delta neutral strategies on here. 122 00:07:22,200 --> 00:07:27,480 So basically, you know, our JLP 60% or 65% risky stuff, they'll 123 00:07:27,480 --> 00:07:34,200 short, they'll own JLP, they'll put it on drift and they'll use 124 00:07:34,200 --> 00:07:36,760 it as collateral and they'll short Solana, Ethan, Bitcoin 125 00:07:36,760 --> 00:07:41,640 against it. So you have all these like if 126 00:07:41,640 --> 00:07:48,160 you go to, let's say, USDC and let's just look at that, They've 127 00:07:48,160 --> 00:07:51,960 got all these like different firms that do basically hedge 128 00:07:51,960 --> 00:07:56,360 JLP strategies. And the idea is so. 129 00:07:57,000 --> 00:07:59,120 Same as Athena. You know how like Athena works 130 00:07:59,280 --> 00:08:02,920 where you you own the ETH, but you short the ETH on futures and 131 00:08:02,920 --> 00:08:05,960 you take the yield. This is like owning GLP but 132 00:08:05,960 --> 00:08:10,560 shorting just the just the the the risky exposure of it. 133 00:08:10,600 --> 00:08:13,680 So you basically short the 60% bucket, which is quite easy to 134 00:08:13,680 --> 00:08:15,600 do because it's just sold Bitcoin and ETH. 135 00:08:18,400 --> 00:08:20,720 Then you earn the fees. You just earn. 136 00:08:20,720 --> 00:08:21,960 So you basically just earn the fees. 137 00:08:22,200 --> 00:08:25,200 No, no, no risk, no, no. Well, obviously there's some 138 00:08:25,200 --> 00:08:29,200 risk all of this stuff, but like there's no delta, there's no 139 00:08:29,200 --> 00:08:31,080 principal risk essentially, or there's not meant to be. 140 00:08:31,080 --> 00:08:36,159 Some of the AP YS in this stuff is like wild like like can you 141 00:08:36,159 --> 00:08:38,240 read? Them off it's a little small. 142 00:08:39,240 --> 00:08:44,760 Oh, sorry, maybe maybe I'll zoom in, view zoom in. 143 00:08:46,560 --> 00:08:50,560 How do I zoom in multiple times? Can you guys see these now or 144 00:08:50,560 --> 00:08:52,160 no? A little better. 145 00:08:52,160 --> 00:08:56,560 My eyes are a little. Just like 60 percent, 60% for 146 00:08:56,560 --> 00:09:00,680 some of these, Yeah, as a stable coin yield. 147 00:09:00,760 --> 00:09:03,080 Like maybe look at some of the bigger ones. 148 00:09:03,080 --> 00:09:08,680 So like this one's 26,000,000 TBL does 50% APY over the last 149 00:09:08,680 --> 00:09:13,360 90 days because maybe the bigger ones are the best ones to look 150 00:09:13,360 --> 00:09:16,280 at. Similarly, this one, this one's 151 00:09:17,160 --> 00:09:22,200 insurance hedge GLP 55%, seven million TBL, there's a bunch of 152 00:09:22,200 --> 00:09:23,440 different firms doing it basically. 153 00:09:23,440 --> 00:09:29,760 So like you can pick your firm servers like nitrade is like 154 00:09:29,800 --> 00:09:33,560 maybe one of the bigger ones and I think. 155 00:09:34,000 --> 00:09:36,640 You can as a user you just deposit USDC into the vault. 156 00:09:36,800 --> 00:09:39,560 You just deposit USDC. Now, there's obviously some like 157 00:09:39,600 --> 00:09:43,960 risk to this stuff, but if you go into share this tab instead, 158 00:09:44,560 --> 00:09:48,720 this is like this is the one of the bigger firms doing it and 159 00:09:48,720 --> 00:09:50,920 you can actually just invest from their front end, it looks 160 00:09:50,920 --> 00:09:56,880 like. But yeah, so like these are the 161 00:09:56,960 --> 00:10:00,280 they've got a bunch of delta neutral, JLP delta neutral 162 00:10:00,280 --> 00:10:03,640 trades. You can do an arbitrum sole 72% 163 00:10:03,920 --> 00:10:07,240 APR. Like you understand how it 164 00:10:07,240 --> 00:10:10,960 works, right? Like it's exactly the same as as 165 00:10:10,960 --> 00:10:13,160 Athena works. Now, obviously there's some risk 166 00:10:13,160 --> 00:10:16,440 to all of this sort of stuff. The main risks is that like if 167 00:10:16,440 --> 00:10:19,720 you have negative funding, which weirdly you do have right now, 168 00:10:19,760 --> 00:10:24,200 these things would probably lose money if you get a if GLP 169 00:10:24,200 --> 00:10:27,000 because it can trade a discount or a premium to the NAV. 170 00:10:28,640 --> 00:10:32,600 But yeah, looking at some more D Gen. stuff around that because 171 00:10:32,600 --> 00:10:35,720 I'm just like, I don't know, like the market feels a little 172 00:10:35,720 --> 00:10:38,080 bit cooked. I always have some money in 173 00:10:38,080 --> 00:10:39,880 stables. I thought I might as well do 174 00:10:39,880 --> 00:10:42,280 some more DJ and stuff in, in, in that. 175 00:10:43,120 --> 00:10:46,360 So yeah. Look at this and clearly people 176 00:10:46,360 --> 00:10:48,440 are stabled up. So I got you're saying the 177 00:10:48,440 --> 00:10:52,640 market is cooked. I want to get into that one 178 00:10:52,640 --> 00:10:56,800 thing. Maybe I'm just like naively got 179 00:10:56,800 --> 00:10:58,720 the hope in this morning. Like stable coins are still 180 00:10:58,720 --> 00:11:00,800 going up and to the right so people aren't exiting 181 00:11:01,960 --> 00:11:06,040 ecosystems. No, no, no, this I mean, I put a 182 00:11:06,040 --> 00:11:09,520 tweet out today, crypto market cap's only down 15% right from 183 00:11:09,520 --> 00:11:16,080 its from its peak. So it's not and stablecoins are 184 00:11:16,080 --> 00:11:18,720 up and to the right as part of that as well. 185 00:11:18,720 --> 00:11:21,720 So it doesn't feel like people are are leaving. 186 00:11:21,720 --> 00:11:25,400 It's just been a destruction of the soul and just general 187 00:11:25,400 --> 00:11:27,000 casino. I feel like people are just like 188 00:11:27,000 --> 00:11:32,480 tired a little bit and want to want to just like be a this, 189 00:11:32,680 --> 00:11:34,840 they're done with losing money for a little bit and want to 190 00:11:34,840 --> 00:11:37,920 look at other things. I mean, that's the general 191 00:11:37,920 --> 00:11:40,040 sentiment that that that I see on my timeline. 192 00:11:41,520 --> 00:11:45,040 And I think all these all this stuff that's coming out about 193 00:11:45,320 --> 00:11:49,200 Jupiter and meteor and all that stuff just leaves a bad taste in 194 00:11:49,200 --> 00:11:52,520 people's mouths around around these things. 195 00:11:52,520 --> 00:11:56,240 So yeah, I think it's going to be interesting to see how how 196 00:11:57,600 --> 00:12:00,400 how long that like bad sentiment continues. 197 00:12:00,400 --> 00:12:04,320 But in general like Bitcoin still at 95 K, right? 198 00:12:04,320 --> 00:12:07,840 Like it's so bad. That's the worst part of all 199 00:12:07,840 --> 00:12:11,360 this, right, is that this has all happened, what with Bitcoin 200 00:12:11,360 --> 00:12:14,760 in the range. It's at the bottom of the range 201 00:12:14,760 --> 00:12:17,400 effectively it's it's fairly stable. 202 00:12:17,400 --> 00:12:20,920 I mean, it's turning down. And what happens? 203 00:12:20,920 --> 00:12:26,920 Like if Bitcoin were to go to 88 or 85, it feels like Seoul goes 204 00:12:26,920 --> 00:12:31,680 to straight to 120. Yeah, Look, I don't think 205 00:12:31,680 --> 00:12:34,400 Bitcoins going to 88 that's that's my general sense. 206 00:12:34,400 --> 00:12:37,800 I think people are exiting to Bitcoin, they were exiting to 207 00:12:37,800 --> 00:12:41,120 majors and now they've they've they've a lot of people have I 208 00:12:41,120 --> 00:12:43,840 think have thrown in the towel on Solana after this like it 209 00:12:43,840 --> 00:12:48,760 broke support and people just pissed off about what's been 210 00:12:48,760 --> 00:12:53,240 going on. So I think it is largely because 211 00:12:53,240 --> 00:12:56,720 like we are often benchmarked to Seoul basically in this space, 212 00:12:56,720 --> 00:13:01,560 but I also think that the funds are flowing, are flowing into 213 00:13:02,480 --> 00:13:05,080 Ethan Bitcoin here. So I, I don't think, I don't 214 00:13:05,080 --> 00:13:06,960 think the crypto market cap's going to be that affected by 215 00:13:06,960 --> 00:13:09,640 this, if I'm honest. Yeah, I think we're actually 216 00:13:09,640 --> 00:13:12,960 even already saying that in the last day, I've actually catching 217 00:13:13,240 --> 00:13:16,440 a decent amount of inflows. There's definitely capital 218 00:13:16,440 --> 00:13:18,960 leaving Seoul. What I'm trying to wrap my head 219 00:13:18,960 --> 00:13:26,920 around is I could disconnect between CT opinion on Solana 220 00:13:26,920 --> 00:13:31,800 versus broader retail opinion on Solana like and what has like 221 00:13:31,800 --> 00:13:36,920 fundamentally changed in the past couple weeks. 222 00:13:38,360 --> 00:13:40,280 And, and I can paint the the bull case. 223 00:13:40,280 --> 00:13:42,680 I think that the bull case to me is that the contagion from the 224 00:13:42,680 --> 00:13:45,280 meme coin scandal isn't that big. 225 00:13:45,600 --> 00:13:49,960 It's somewhat localized. And after a cool down period, 226 00:13:50,440 --> 00:13:52,120 the Degen's come back to the casino. 227 00:13:52,120 --> 00:13:54,680 I think that's the bull case. I think the bear cases, the 228 00:13:54,680 --> 00:13:59,760 casino is closed for the foreseeable future and Seoul is, 229 00:13:59,840 --> 00:14:02,360 you know, continues to grind down because revenue on the 230 00:14:02,360 --> 00:14:06,560 chains going down and the fundamentals look less strong. 231 00:14:07,360 --> 00:14:11,280 So can I flip that little bit on its head and be like, why if the 232 00:14:11,280 --> 00:14:14,480 casino is closed, is that necessarily like that bad? 233 00:14:16,080 --> 00:14:19,840 Because I think a lot of people have associated with Solano with 234 00:14:20,360 --> 00:14:23,400 that sort of stuff. Well, it doesn't necessarily 235 00:14:23,400 --> 00:14:25,640 need to be right. As long as it's a cheap, fast 236 00:14:25,640 --> 00:14:27,640 blockchain, it can be involved in tons of different things. 237 00:14:27,720 --> 00:14:30,200 Like it's good for deep in, it's good for Defy. 238 00:14:30,640 --> 00:14:33,480 It's it's yeah, it's good for memes, but it can be good for 239 00:14:33,560 --> 00:14:38,440 anything, right? And I think part of this can 240 00:14:38,440 --> 00:14:45,240 just be a reset of the culture. There's plenty of chains like 241 00:14:45,240 --> 00:14:48,840 XRP being a prime example, right, that haven't needed a 242 00:14:48,840 --> 00:14:57,560 casino to be worth to, to excel. Bitcoins just need an ETF, 243 00:14:58,360 --> 00:14:59,680 right? Like obviously digital gold and 244 00:14:59,680 --> 00:15:01,880 all that sort of stuff. But like what I'm trying to say 245 00:15:01,880 --> 00:15:07,240 is that like, I don't necessarily think that Solana 246 00:15:09,280 --> 00:15:13,160 just has value because it that's where people have been being 247 00:15:13,160 --> 00:15:16,040 doing the casino. And I think in some ways people 248 00:15:16,040 --> 00:15:18,360 might look at it as being like a reset of the culture of the 249 00:15:18,360 --> 00:15:21,400 chain and maybe we go and do different things. 250 00:15:21,800 --> 00:15:25,560 So like, I'm not that bearish on Solana in general. 251 00:15:26,040 --> 00:15:27,600 And I think you can easily recover from this. 252 00:15:27,800 --> 00:15:29,240 Like there's some obviously some broader thought. 253 00:15:29,240 --> 00:15:33,120 Like I obviously do podcasts with people from who don't 254 00:15:33,120 --> 00:15:34,320 really play in meme coins and stuff. 255 00:15:34,320 --> 00:15:36,840 And they hadn't really heard about what was going on in the 256 00:15:36,840 --> 00:15:39,320 Argentina coin. Like genuinely like their main 257 00:15:39,320 --> 00:15:43,440 worry was the unlocks, the Solana unlocks and that was and 258 00:15:43,440 --> 00:15:46,040 that was parred against the FDX repayments. 259 00:15:46,680 --> 00:15:49,920 So like they think the sell off has more to do with the unlocks, 260 00:15:50,320 --> 00:15:51,520 right? Like some people were like, no, 261 00:15:51,520 --> 00:15:53,080 no, no, this is an unlocked sell off. 262 00:15:54,160 --> 00:15:57,040 I think because we are part of this like hyper gambling bit of 263 00:15:57,040 --> 00:16:00,600 the market, a lot of the rest of the market despises that. 264 00:16:00,600 --> 00:16:06,360 So like, I don't necessarily think what you're saying is, is 265 00:16:06,360 --> 00:16:09,120 the death of Solana. Well, it's good. 266 00:16:09,120 --> 00:16:10,720 I mean that that's the hopium case. 267 00:16:10,720 --> 00:16:13,960 I do feel like there is a very real disconnect between the, the 268 00:16:13,960 --> 00:16:19,280 panic on CT and anyone who's removed like my wife for, for 269 00:16:19,280 --> 00:16:21,640 example, she, she casually follows crypto. 270 00:16:21,640 --> 00:16:23,240 She knows like I'm employed here. 271 00:16:23,440 --> 00:16:26,160 She has no idea what, what the the Libra scandal is. 272 00:16:26,880 --> 00:16:31,440 And I don't think people are are widely aware of it or really 273 00:16:31,440 --> 00:16:35,480 thinking that through potential network or second order or third 274 00:16:35,480 --> 00:16:38,520 order effects of it. So I tend to agree that it it 275 00:16:38,520 --> 00:16:41,400 may be overblown. I guess where I was going, you 276 00:16:41,400 --> 00:16:46,200 know what with it felt like Solana Dex volume, Solana 277 00:16:46,200 --> 00:16:49,560 trading products and their revenue was being touted as a 278 00:16:49,560 --> 00:16:52,560 big reason for Solana's growth and that the chain was producing 279 00:16:52,560 --> 00:16:56,320 all this revenue and so now that. 280 00:16:58,000 --> 00:17:00,320 I think that's a very fairpoint. But Solana's still doing more 281 00:17:00,320 --> 00:17:02,240 volume than all the other chains, right? 282 00:17:02,600 --> 00:17:06,000 It's been so far ahead, you know, like it's been, it's been 283 00:17:06,119 --> 00:17:08,960 more than every other chain, often more than multiple chains 284 00:17:08,960 --> 00:17:11,280 combined. And it's still not like the 285 00:17:11,280 --> 00:17:15,240 price performance over the last, like it's kind of flat, right? 286 00:17:15,760 --> 00:17:18,760 So what that tells you is like, has that been that useful for 287 00:17:18,760 --> 00:17:22,440 Solana? Like Hyper Liquid just has a 288 00:17:22,440 --> 00:17:28,680 profitable Pup decks and it's trading at, you know, $25 289 00:17:28,680 --> 00:17:33,880 billion FTV. Why can't Solana just be a pup? 290 00:17:34,120 --> 00:17:35,600 Like, why can't we just trade Pups on Solana? 291 00:17:35,600 --> 00:17:37,200 It's super cheap. Everyone can trade, trade them 292 00:17:37,200 --> 00:17:39,080 just as well as you can try and trade in Hyper Liquid. 293 00:17:39,640 --> 00:17:42,480 I think the elements that we think are really valued for a 294 00:17:42,480 --> 00:17:45,120 blockchain are actually fundamentally different to what 295 00:17:45,120 --> 00:17:47,960 other people think are valuable for a blockchain basically. 296 00:17:49,400 --> 00:17:51,880 And yeah, I think having a far cheap blockchain lines, you do 297 00:17:51,880 --> 00:17:53,360 tons of different things. That's why I don't think it's 298 00:17:53,360 --> 00:17:55,520 the end of Solana. I just think maybe maybe people 299 00:17:55,520 --> 00:17:57,560 have just had enough of the casino for a little bit or or 300 00:17:57,560 --> 00:18:01,320 like this part of the casino. Do you have thoughts on where, 301 00:18:01,320 --> 00:18:02,440 Like where? So where's the bottom? 302 00:18:03,000 --> 00:18:05,840 Like I was, it seemed like yesterday that maybe it was 303 00:18:05,840 --> 00:18:08,600 going to hold like the one 75178 range. 304 00:18:08,600 --> 00:18:11,440 It lost that and then quickly plummeted through. 305 00:18:12,760 --> 00:18:14,560 Is there a number where you would start to bid or are you 306 00:18:14,560 --> 00:18:18,800 just going to let this play out? I think it's really cheap if it 307 00:18:18,800 --> 00:18:23,800 starts going below 150 that that's my opinion just because 308 00:18:23,800 --> 00:18:25,720 it like a lot of those metrics are still there. 309 00:18:25,720 --> 00:18:28,680 We're being dominating so much of what's going on in crypto. 310 00:18:29,160 --> 00:18:34,120 So I would still say it's I would still I I would say if it 311 00:18:34,120 --> 00:18:36,560 goes below that level, I'd I'd definitely start looking at it 312 00:18:37,200 --> 00:18:41,080 one 2100, right? That would be for me. 313 00:18:41,080 --> 00:18:42,360 That would be really, really low. 314 00:18:44,120 --> 00:18:48,720 Like that would be crazy compared to this stuff going on 315 00:18:48,720 --> 00:18:52,960 there right now. Like we would have to see just a 316 00:18:52,960 --> 00:18:59,440 complete reversal in people using it, not just for trading, 317 00:18:59,440 --> 00:19:02,320 but just like having using Solana as a chain. 318 00:19:03,040 --> 00:19:06,240 And I think that's I just, I don't I'm not at that level yet. 319 00:19:06,360 --> 00:19:08,840 Like I'm not throwing it like what are you going to go use? 320 00:19:10,600 --> 00:19:11,880 What what are you going to go use? 321 00:19:11,880 --> 00:19:14,920 Bit I guess Bitcoin, like people like Bitcoin, but I don't think 322 00:19:14,920 --> 00:19:16,680 people are just suddenly going to turn back and be like, we 323 00:19:16,680 --> 00:19:19,360 need to go. The ETUIUX is not great. 324 00:19:19,360 --> 00:19:28,920 People don't love L2's BNB. Maybe it feels like there's been 325 00:19:28,920 --> 00:19:33,000 a bit of a renaissance there, maybe base, but like it doesn't. 326 00:19:33,800 --> 00:19:37,680 I still think I just, I, I wouldn't get so bearish on 327 00:19:37,680 --> 00:19:39,880 Solana. You can get very bearish on on a 328 00:19:39,880 --> 00:19:42,680 lot of the stuff on Solana still and we've already seen that. 329 00:19:43,200 --> 00:19:46,360 But I don't think I just, I can't, I can't really feel like 330 00:19:46,360 --> 00:19:48,120 that's going to be the end of Solana suddenly. 331 00:19:48,720 --> 00:19:52,320 I'm pretty surprised that the Solana Foundation and and the 332 00:19:52,600 --> 00:19:56,480 which has done a fantastic job of highlighting the projects and 333 00:19:56,480 --> 00:20:00,040 protocols on Solana, you know, the whole powered by Solana 334 00:20:00,040 --> 00:20:01,640 thing. There's a pretty clear 335 00:20:01,640 --> 00:20:04,880 opportunity here in the last few days to be really loud about 336 00:20:06,440 --> 00:20:08,680 some of those other things that are happening on the chain, 337 00:20:08,680 --> 00:20:10,880 which, you know, Amanda pointed out deep in. 338 00:20:11,160 --> 00:20:13,840 There's lots of things that Helium Hive mapper, all those 339 00:20:13,840 --> 00:20:17,560 deep in projects that have millions of users and real world 340 00:20:17,560 --> 00:20:21,040 use cases that I think people find exciting. 341 00:20:21,080 --> 00:20:23,680 And maybe that's not the right word, but like there is other 342 00:20:23,680 --> 00:20:25,800 stuff happening here. It's dominated, of course, in 343 00:20:25,800 --> 00:20:27,120 our circle by the meme coin stuff. 344 00:20:27,680 --> 00:20:31,520 That contagion is is going to go on for I think a bit more time 345 00:20:31,520 --> 00:20:34,240 as more information comes out. And of course it's damning. 346 00:20:34,240 --> 00:20:38,440 But to think of this as the end of the chain, you know, near 347 00:20:38,440 --> 00:20:42,440 term price action aside, like seems seems pretty silly in my 348 00:20:42,440 --> 00:20:44,560 opinion as well. It is still the easy like if you 349 00:20:44,560 --> 00:20:48,200 were going to get somebody on the street to to spin up and 350 00:20:48,200 --> 00:20:52,320 participate in Web 3 crypto, like outside of buying Bitcoin, 351 00:20:52,760 --> 00:20:53,920 what are you going to have them do? 352 00:20:53,960 --> 00:20:55,840 Like you're going to have them participate on Solana, aren't 353 00:20:55,840 --> 00:20:57,320 you? It's still the easiest way to do 354 00:20:57,320 --> 00:21:00,440 stuff I. Didn't agree. 355 00:21:00,960 --> 00:21:03,080 I feel like there's probably some more near term pain. 356 00:21:03,840 --> 00:21:05,680 I don't think Oh yeah, I would agree with that too. 357 00:21:07,520 --> 00:21:10,600 And part of the reason is like, we'll just talk a little bit 358 00:21:10,600 --> 00:21:16,360 about what happened yesterday. So I mean, a full day of news 359 00:21:16,360 --> 00:21:20,160 tied to the Libra scandal. So president of LA officially 360 00:21:20,440 --> 00:21:23,680 charged by a group of lawyers for fraud. 361 00:21:24,000 --> 00:21:27,480 He came out and said, I didn't promote it, I was only spreading 362 00:21:27,480 --> 00:21:28,480 it. And he actually gave deeper 363 00:21:28,480 --> 00:21:31,640 comments and saying that, hey, listen, no one in Argentina was 364 00:21:31,640 --> 00:21:34,160 impacted by this. It's really just the DJ and 365 00:21:34,160 --> 00:21:37,320 crypto traders, the high volatility traders who were 366 00:21:37,320 --> 00:21:40,560 impacted, which is probably a pretty fair assessment of the, 367 00:21:40,840 --> 00:21:45,720 the reality of this. It's just that we, we share a 368 00:21:45,760 --> 00:21:49,920 social layer with with those folks, which is why we see it a 369 00:21:49,920 --> 00:21:53,840 little bit louder. Hayden continues to to speak up. 370 00:21:53,840 --> 00:21:58,360 He was on with Portnoy. They were going on actually 371 00:21:58,360 --> 00:22:00,360 against FOMO. Our yesterday he was talking 372 00:22:00,360 --> 00:22:04,240 about I think Dave asked him whose money is the 100 million 373 00:22:04,240 --> 00:22:06,200 that you have and he couldn't really answer the question. 374 00:22:07,200 --> 00:22:12,720 And then we got more news. Solana floor share some 375 00:22:12,720 --> 00:22:13,960 allegations. These are allegations. 376 00:22:13,960 --> 00:22:17,640 These are not all totally confirmed, just a a broader 377 00:22:17,640 --> 00:22:22,040 picture of perhaps what was happening here at Kelsey as team 378 00:22:22,040 --> 00:22:25,960 involvement in several tokens including Libra, Melania on the 379 00:22:25,960 --> 00:22:32,400 Meteor launchpad and how Meteor leadership including Ben were 380 00:22:32,400 --> 00:22:34,800 were involved in this. I think it's still a little 381 00:22:34,800 --> 00:22:37,960 unclear exactly what Ben's role was and all this. 382 00:22:37,960 --> 00:22:40,120 I want to be very careful about that. 383 00:22:41,320 --> 00:22:45,880 It's clear that Kelsey that this Kelsey a group was actually 384 00:22:46,280 --> 00:22:49,240 effectively rigging these launches and and mass extracting 385 00:22:49,920 --> 00:22:53,000 there. There's messages in their chats. 386 00:22:53,000 --> 00:22:54,880 I think the the the most damning. 387 00:22:55,360 --> 00:22:59,400 I'm trying to find it the Max. Extract. 388 00:22:59,800 --> 00:23:01,440 It. Was it was up, up a little bit, 389 00:23:01,440 --> 00:23:04,000 Tyler, the middle one right there, right in here. 390 00:23:04,040 --> 00:23:06,920 It's that middle message. I think you're looking for that 391 00:23:07,040 --> 00:23:08,960 to be honest. We're trying to Max extract on 392 00:23:08,960 --> 00:23:11,680 this one did. I miss it, Logan. 393 00:23:12,080 --> 00:23:13,320 Yeah, Scroll down just a little bit. 394 00:23:13,440 --> 00:23:16,040 It's, it's in right there. It's in that block, yeah. 395 00:23:17,200 --> 00:23:19,120 Oh here we go. Yeah EFL TBH we are trying to 396 00:23:19,120 --> 00:23:21,800 Max extract. Do you know what's really, 397 00:23:22,080 --> 00:23:24,800 really funny about that is that that's mates. 398 00:23:24,800 --> 00:23:27,800 Do you remember that token? That's the token from the 399 00:23:27,800 --> 00:23:30,560 Weberverse team that rugged everyone for millions. 400 00:23:31,080 --> 00:23:35,280 So what he's actually saying it's kind of true in that he 401 00:23:35,280 --> 00:23:38,240 doesn't trust the team because they were the team behind 402 00:23:38,240 --> 00:23:42,520 Weberverse, right. Remember we said that the that 403 00:23:42,520 --> 00:23:49,400 like Shaw had worked there and then they didn't like read re 404 00:23:49,400 --> 00:23:52,080 changed their account from mobile burst to mates, and then 405 00:23:52,080 --> 00:23:55,280 they just released a new token. So like these are like double 406 00:23:55,280 --> 00:23:59,400 ruggers themselves, essentially getting rugged by this team. 407 00:23:59,600 --> 00:24:02,960 I I I mean I I don't know if many people put two and two 408 00:24:02,960 --> 00:24:06,400 together, but I did. This is like this was a rugging 409 00:24:06,400 --> 00:24:07,800 team being rugged. Oh man. 410 00:24:11,560 --> 00:24:18,800 I did not put that together so that Robin Hood yes, so it it 411 00:24:18,800 --> 00:24:21,480 seems like it it it goes deep. It it seemed like there were 412 00:24:21,480 --> 00:24:23,800 several tokens tied in. We still don't really know the 413 00:24:23,800 --> 00:24:28,560 extent of it. Meow Jupiter founder came out 414 00:24:28,640 --> 00:24:33,040 and said that they don't believe that anyone on the team did 415 00:24:33,040 --> 00:24:39,280 anything wrong, but acknowledges that Ben needed to resign 416 00:24:39,280 --> 00:24:44,960 effectively just because of his involvement in running Meteora, 417 00:24:46,080 --> 00:24:48,280 and at this fact, this basically took place on Meteora. 418 00:24:48,760 --> 00:24:52,320 Did you know that Meow owned Meteora or was the founder of 419 00:24:52,320 --> 00:24:53,480 Meteora? I did not. 420 00:24:54,000 --> 00:24:58,200 No, I didn't until yesterday. Yeah, I didn't know that Meow 421 00:24:58,200 --> 00:25:00,000 was tied in. I think I'd heard rumblings that 422 00:25:00,000 --> 00:25:04,840 Meteora was tied. So Jupiter owns Moon Shot and 423 00:25:04,840 --> 00:25:08,480 Meteora then so. Yeah, so they obviously teamed 424 00:25:08,480 --> 00:25:10,240 together to do the Trump launch, right. 425 00:25:12,640 --> 00:25:16,160 But I didn't know that that they own them both now, essentially. 426 00:25:16,480 --> 00:25:20,320 But but but maybe I I'm in the like minority that he, I didn't 427 00:25:20,320 --> 00:25:26,520 know he owned Meteora. But I think, you know, this is 428 00:25:26,520 --> 00:25:29,280 dodgy, right? Very, very clearly very dodgy 429 00:25:29,280 --> 00:25:36,120 stuff going on in my opinion. And like, I think I think it's 430 00:25:36,120 --> 00:25:38,960 clear that like people were tipped off and and these guys 431 00:25:38,960 --> 00:25:42,360 were sniping launchers and a lot of money was made. 432 00:25:45,320 --> 00:25:47,760 Don't know, kind of isn't what it is at the same time, but. 433 00:25:47,840 --> 00:25:52,040 That seems to be like the some of the worst part is that and 434 00:25:52,040 --> 00:25:54,520 what people are most upset about is it seems like yes, like they 435 00:25:54,520 --> 00:25:56,520 had info on this. They were sharing it with this 436 00:25:56,520 --> 00:25:58,600 like group of people who were sniping and effectively just 437 00:25:58,600 --> 00:26:01,680 dumping on the launch. And as I understand how the so 438 00:26:01,680 --> 00:26:05,480 how Meteora token launches are different compared to like pump 439 00:26:05,480 --> 00:26:10,760 fun is this team would effectively inject capital 440 00:26:10,760 --> 00:26:13,760 sniping the launches to get them up to a market cap like a 441 00:26:13,760 --> 00:26:15,960 starting point. So instead of starting at like 442 00:26:15,960 --> 00:26:22,800 100,000 market cap or or 500K, they just open it basically and 443 00:26:22,800 --> 00:26:26,040 it candles right up to 500 million or a, a billion like it 444 00:26:26,040 --> 00:26:28,560 did effectively for the the Libra launch. 445 00:26:28,920 --> 00:26:32,360 And that's a controlled and then they can kind of handle the 446 00:26:32,360 --> 00:26:37,560 market making from there. But it it's puts more of the 447 00:26:37,560 --> 00:26:41,360 people like a a retail investor who buys after the launch is at 448 00:26:41,360 --> 00:26:45,080 a disadvantage eventually, which is it's a less fair style of 449 00:26:45,080 --> 00:26:47,240 launch than like pump funk. That's how I understand it. 450 00:26:47,240 --> 00:26:49,600 But Logan, jump in. I was just going to share. 451 00:26:49,600 --> 00:26:52,760 I'm not sure if you watched the the video from choose Rich Nick 452 00:26:52,760 --> 00:26:56,520 that came out. It's probably late last night 453 00:26:57,640 --> 00:27:02,080 regarding he showed sort of I believe it's all alleged that I 454 00:27:02,080 --> 00:27:04,040 don't think anything is confirmed at this point. 455 00:27:04,480 --> 00:27:07,120 So go watch it and you know, draw her own conclusions and 456 00:27:07,120 --> 00:27:09,240 such. But it shared a little bit of 457 00:27:09,240 --> 00:27:15,760 the pitch deck for Kelsey Ayres token launch services, more or 458 00:27:15,760 --> 00:27:18,160 less. And I believe what's alleged 459 00:27:18,160 --> 00:27:20,680 based on one of the tables within is very much what you're 460 00:27:20,680 --> 00:27:23,120 just describing. You know, hey, we're going to 461 00:27:23,120 --> 00:27:26,280 launch it at XYZ market cap. Here's how much it costs to 462 00:27:26,280 --> 00:27:28,880 launch it at that. Oh, and you know, you also have 463 00:27:28,880 --> 00:27:32,400 your choice of how much of that supply you'd like sniped more or 464 00:27:32,400 --> 00:27:34,120 less if I interpret it correctly. 465 00:27:34,520 --> 00:27:37,120 Again, all these things alleged not confirmed in any way. 466 00:27:37,120 --> 00:27:42,640 So but that's just seeing that and seeing like even an option 467 00:27:42,640 --> 00:27:47,520 on the table to have 90% of the supply sniped like, I don't 468 00:27:47,520 --> 00:27:50,200 know, it feels real bad. Obvious. 469 00:27:50,240 --> 00:27:52,920 Obviously a lot of this is real, real bad, but seeing that, you 470 00:27:52,920 --> 00:27:56,080 know, just further proof for me pulling some stuff back and 471 00:27:56,160 --> 00:27:59,600 opening up my eyes a little bit more as to like just how rigged 472 00:27:59,600 --> 00:28:03,720 the game really is, particularly for the big launches, like the 473 00:28:03,720 --> 00:28:05,960 ones that you want to be excited about. 474 00:28:05,960 --> 00:28:09,120 Like everybody wants to be excited about these big tokens 475 00:28:09,120 --> 00:28:11,880 because they bring they are potential on boarding events and 476 00:28:11,880 --> 00:28:15,240 they aren't right all those things, but like they're also 477 00:28:15,240 --> 00:28:17,440 the worst possible tokens, more or less. 478 00:28:18,040 --> 00:28:20,520 Yeah, I think it's it's just painted picture of like 479 00:28:20,600 --> 00:28:22,800 institutionalized rocking. Do you know what I mean? 480 00:28:22,800 --> 00:28:25,840 Like it was just like this was accepted that you could sell a 481 00:28:25,840 --> 00:28:28,400 product, which was and we've seen this kind of like dog with 482 00:28:28,400 --> 00:28:31,880 tools, you know, like there were those sort of things on the 483 00:28:31,880 --> 00:28:35,160 salon or blockchain where it was just so accepted that people 484 00:28:35,160 --> 00:28:38,080 were doing this at the same time, but you wouldn't have 485 00:28:38,080 --> 00:28:42,080 expected it from and being dorsed by like the biggest 486 00:28:42,080 --> 00:28:46,120 protocols in the space, right. And then being part of it, it 487 00:28:46,120 --> 00:28:49,960 seems like not like they they perhaps were involved in that 488 00:28:49,960 --> 00:28:52,480 too. So it's bad. 489 00:28:53,880 --> 00:28:55,560 I I don't think it's the end of salon. 490 00:28:55,560 --> 00:28:57,400 Like I said before, I would be very unsurprised if it 491 00:28:57,400 --> 00:28:58,640 underperforms for a little bit here. 492 00:28:59,920 --> 00:29:03,080 I don't know, like whenever ETH rallies, the whole market just 493 00:29:03,080 --> 00:29:05,160 completely dumps. It keeps on doing that. 494 00:29:05,320 --> 00:29:09,240 Like whenever ETH like puts in a green candle versus versus other 495 00:29:09,240 --> 00:29:13,640 majors, it's just like people have been talking about going to 496 00:29:13,640 --> 00:29:18,120 ET, Bitcoin, BNBXRP, I, I don't know where people are going to 497 00:29:18,120 --> 00:29:20,520 put their money. I looked at Artemis today and 498 00:29:20,520 --> 00:29:24,840 there's doesn't feel like money's necessarily like huge 499 00:29:24,840 --> 00:29:27,960 amounts of money is leaving. You guys have looked at that. 500 00:29:28,240 --> 00:29:30,880 Let me just share because I think it may be useful. 501 00:29:34,000 --> 00:29:38,440 I'm seeing two and a half million in outflows from Solana, 502 00:29:38,840 --> 00:29:41,760 but they're still that's in the last day and and it's still 503 00:29:41,760 --> 00:29:44,320 green on the week. Jesus, what's going on at 504 00:29:44,440 --> 00:29:47,280 optimism? Yeah, optimism's getting 505 00:29:47,280 --> 00:29:48,520 decimated. I don't know what's going on 506 00:29:48,520 --> 00:29:50,720 there. But in the last week, you know, 507 00:29:50,720 --> 00:29:55,240 Salah has still had inflows, net inflow of 30 million. 508 00:29:56,440 --> 00:30:00,040 Ethereum's having good inflows, having had a very bad like 509 00:30:00,040 --> 00:30:02,320 period for the last year. So maybe, maybe ether is to 510 00:30:02,320 --> 00:30:05,600 play. But yeah, it doesn't feel like 511 00:30:05,800 --> 00:30:07,880 the the wheels are coming off here, basically. 512 00:30:08,480 --> 00:30:13,040 As far as the casino goes, right, which you know is a core 513 00:30:13,040 --> 00:30:15,800 component of a lot of our activity on the chain, what we 514 00:30:15,800 --> 00:30:22,320 talked about, it feels like if not now, when for ETH, like you 515 00:30:22,320 --> 00:30:26,520 know, if not now maybe never. Like this is a a pretty pivotal 516 00:30:26,520 --> 00:30:30,400 time that it could capitalize on, you know, innovative 517 00:30:30,400 --> 00:30:32,280 launches it. With regards to tokens, I don't 518 00:30:32,280 --> 00:30:35,880 know if you saw the comment from Hayden Adams, sorry, am I mixing 519 00:30:35,880 --> 00:30:37,520 up names? Right? 520 00:30:37,560 --> 00:30:41,480 OK, Uniswap founder, not to be confused with Hayden from Kelsey 521 00:30:41,480 --> 00:30:45,200 here, who basically said yesterday like it's really not 522 00:30:45,200 --> 00:30:48,840 that hard to launch a token fairly or, you know, whatever. 523 00:30:49,040 --> 00:30:52,280 And if it does isn't fair. It probably wasn't fair on 524 00:30:52,280 --> 00:30:53,920 purpose. There's a tweet about that. 525 00:30:53,920 --> 00:30:55,680 I'm I'm mixing up the words potentially. 526 00:30:55,680 --> 00:30:59,720 But, you know, it's just a nice little thing to to hear, I 527 00:30:59,720 --> 00:31:04,040 guess, if you're launching a token on ETH, maybe, but not so 528 00:31:04,040 --> 00:31:06,080 nice if you've been participating on Solana, where 529 00:31:06,080 --> 00:31:09,000 it feels like every token was unfair for the last, you know, 530 00:31:09,120 --> 00:31:10,600 however many months. Yeah, exactly. 531 00:31:11,000 --> 00:31:14,320 Yeah, it seems like unit chain has like unit chain like this is 532 00:31:14,320 --> 00:31:16,880 a great set up for unit chain and unit swap before like these. 533 00:31:16,960 --> 00:31:20,920 These new features can help avoid some of this, but it just 534 00:31:20,920 --> 00:31:23,000 seems like the reality is no one's using them yet. 535 00:31:23,480 --> 00:31:24,960 No one's, but that might be a great time. 536 00:31:24,960 --> 00:31:27,160 I mean, it might be a great time for us to be paying attention 537 00:31:27,160 --> 00:31:30,360 there, right? Code word for today, folks. 538 00:31:30,440 --> 00:31:33,960 For the robot Spence is casino. Casino is the code word. 539 00:31:34,160 --> 00:31:35,720 Stick around another 20 minutes or so. 540 00:31:36,400 --> 00:31:40,200 You, you, I mean, like I said, I spent the last 24 hours kind of 541 00:31:40,200 --> 00:31:42,080 like some of these stable coin strategies across different 542 00:31:42,080 --> 00:31:46,280 chains. You'd be really surprised at how 543 00:31:46,280 --> 00:31:52,920 much of ETH is the stable coin strategies, stable coin or or 544 00:31:52,920 --> 00:31:57,880 maybe just ETH strategies, like of different lending, like 545 00:31:57,880 --> 00:32:02,440 points programs, like there's just so much defy like boring. 546 00:32:03,120 --> 00:32:06,120 There's some D Gen. stuff, but it's generally just like where 547 00:32:06,120 --> 00:32:10,760 can I put 500 million of of of staples on on earth? 548 00:32:10,960 --> 00:32:13,640 You know, it's like it's, it's that sort of stuff going on. 549 00:32:15,240 --> 00:32:19,320 So this is what I kind of I kind of going back to. 550 00:32:19,320 --> 00:32:23,120 It's just weird that it has that like it does have this like very 551 00:32:23,840 --> 00:32:28,960 strong defy community and whenever you speak to them about 552 00:32:30,280 --> 00:32:33,560 Solana, a lot of them are are kind of unsure. 553 00:32:33,560 --> 00:32:35,880 They haven't been built out maybe to the same extent that it 554 00:32:35,880 --> 00:32:38,760 has on on ETH. It has been built out for 555 00:32:38,760 --> 00:32:41,760 trading meme coins. But but maybe we'll see this the 556 00:32:41,880 --> 00:32:43,960 the protocol will evolve into doing other stuff. 557 00:32:43,960 --> 00:32:47,600 Like I spent a little bit of time looking at Solana D5, like 558 00:32:47,600 --> 00:32:48,960 I just showed you. And there's, there's some 559 00:32:48,960 --> 00:32:52,960 interesting stuff going on. Like you can do, you can do like 560 00:32:52,960 --> 00:32:57,440 levered, levered leverage yield strategies. 561 00:32:57,440 --> 00:33:03,600 You can do they have a version of, they have a version of 562 00:33:04,160 --> 00:33:06,760 what's the name of that, that God, I forgot on it. 563 00:33:07,120 --> 00:33:10,600 But they have a version of like points program style borrowing 564 00:33:10,600 --> 00:33:14,040 and lending Pendle. They have a version of Pendle. 565 00:33:14,040 --> 00:33:17,520 I forget what it's called, but they yeah. 566 00:33:17,520 --> 00:33:19,680 Like they, they, they have stuff built out, but it's just not to 567 00:33:19,680 --> 00:33:22,320 the same extent. And maybe maybe for the next 568 00:33:22,320 --> 00:33:25,880 month or two, like people would just like start doing a bit more 569 00:33:25,880 --> 00:33:28,720 other stuff on Solana, which maybe isn't a bad thing, like 570 00:33:28,720 --> 00:33:30,320 genuinely maybe isn't a bad thing. 571 00:33:31,120 --> 00:33:34,040 Everyone needs a break from the trenches and and flipping the 572 00:33:34,080 --> 00:33:37,800 the phrase coin or the Internet capital markets coin of the 573 00:33:37,800 --> 00:33:40,280 diocese. So let's go do something more 574 00:33:40,280 --> 00:33:43,120 valuable with our time for a little while. 575 00:33:43,960 --> 00:33:45,520 I. Don't think it's done though, 576 00:33:45,520 --> 00:33:46,880 right? I think the story's actually 577 00:33:46,880 --> 00:33:48,760 going to keep breaking. That's my guess. 578 00:33:49,240 --> 00:33:51,920 I don't think the score is done. Everyone's very hungry for this 579 00:33:51,920 --> 00:33:53,480 KOL list. That's a part of it. 580 00:33:53,480 --> 00:33:57,520 I think real thing is like, OK, what were the how complicit were 581 00:33:57,520 --> 00:33:59,680 all the protocols? Is there more protocol 582 00:33:59,680 --> 00:34:03,320 involvement than we know about? Like that's where it gets bad. 583 00:34:03,320 --> 00:34:07,160 I think that that's the worst aspect of all this because I 584 00:34:07,160 --> 00:34:11,159 think people generally feel like Kola lot of Kols are shady, 585 00:34:11,760 --> 00:34:13,960 perhaps doing this, but you don't really expect that the the 586 00:34:13,960 --> 00:34:15,480 protocols to be rigged in the game. 587 00:34:16,239 --> 00:34:20,159 I had a pretty large short on Jupiter, so like actually 588 00:34:20,159 --> 00:34:23,480 Jupiter the coin since last night because I. 589 00:34:23,480 --> 00:34:25,800 Was like this. Thing's getting really bad, but 590 00:34:25,800 --> 00:34:31,159 funding has now gone absolutely insane on it, like as a negative 591 00:34:31,159 --> 00:34:33,040 funding, like everyone's piled into that short. 592 00:34:33,040 --> 00:34:35,480 It does feel as though like. There's there's some proudest 593 00:34:35,480 --> 00:34:38,320 shorts out there people. Are like, I'm thinking about 594 00:34:38,320 --> 00:34:41,480 taking it off because I'm just like this thing feels quite 595 00:34:41,480 --> 00:34:43,400 squeezy. Crowded trade. 596 00:34:43,400 --> 00:34:45,600 Everyone's talking about shorting soul and some of these 597 00:34:45,600 --> 00:34:46,360 right? Exactly. 598 00:34:46,920 --> 00:34:49,520 They had timing on the the pushing back with the buybacks 599 00:34:49,520 --> 00:34:52,920 though, So like no one forced. So basically what happened that 600 00:34:52,920 --> 00:34:56,440 came out yesterday. Last week Meow announced that 601 00:34:56,440 --> 00:34:59,720 Jupiter buybacks were going to start on Monday, February 17th. 602 00:34:59,720 --> 00:35:03,480 So yesterday they announced that, hey, no, we're 603 00:35:03,480 --> 00:35:06,960 accumulating USDC for the buybacks that started. 604 00:35:07,400 --> 00:35:09,480 Actual buybacks are going to happen later. 605 00:35:11,520 --> 00:35:14,160 Like, no, no one forced me out to come out and say last week 606 00:35:14,280 --> 00:35:16,920 and give a date. I think people in general were 607 00:35:16,920 --> 00:35:20,640 just happy enough with the news that it was going to happen. 608 00:35:21,800 --> 00:35:24,240 Then he, he goes forward and get sets a date, then doesn't meet 609 00:35:24,240 --> 00:35:27,240 the date like that along with everything else that's 610 00:35:27,240 --> 00:35:30,080 happening. It it's, it's bad timing. 611 00:35:30,560 --> 00:35:35,120 Let's just put it that way. Bad time to say the least. 612 00:35:35,200 --> 00:35:37,720 I think that and it was really just like suddenly it felt like 613 00:35:37,720 --> 00:35:41,760 these guys are going to be complicit and people don't, 614 00:35:42,080 --> 00:35:43,320 yeah, people are going to be annoyed. 615 00:35:45,400 --> 00:35:48,120 So I mean, let's so Jupiter, I think it was at $0.71 when I 616 00:35:48,120 --> 00:35:49,840 looked this morning. So it's at 70. 617 00:35:50,120 --> 00:35:52,600 Oh geez, goodness. Down 15% on the day. 618 00:35:53,960 --> 00:35:57,800 Yeah. 30% since Friday. Yeah. 619 00:35:58,920 --> 00:36:01,520 So that that's, that's a big drop off, Bob. 620 00:36:02,280 --> 00:36:04,840 All right, well, I think we we've gone around the horn on 621 00:36:04,840 --> 00:36:07,120 Solana majors and the Libra scandal. 622 00:36:07,120 --> 00:36:12,000 Let's perhaps pivot into a few other stories from the day. 623 00:36:12,000 --> 00:36:18,080 So, so hype stealth launched their EVM overnight or early 624 00:36:18,080 --> 00:36:20,520 this morning, depending where you're at. 625 00:36:20,520 --> 00:36:24,440 So three big parts of it, Hyper EVM it, it functions as an L1, 626 00:36:25,040 --> 00:36:28,080 it uses hyper BFT consensus spot transfers are now enabled 627 00:36:28,080 --> 00:36:31,800 between spot hype and then the hyper EVM hype hype will be the 628 00:36:31,800 --> 00:36:34,280 guest token of the EVM and then there you are. 629 00:36:34,280 --> 00:36:36,840 I think they're introducing this so I haven't seen it before rap 630 00:36:36,840 --> 00:36:41,800 type W hype, which will be useful for for hyper D5 631 00:36:42,360 --> 00:36:45,160 applications. So so this was a big one. 632 00:36:45,160 --> 00:36:50,120 I don't think we we knew it was coming arguably soon. 633 00:36:50,120 --> 00:36:52,240 I don't think we knew it was going to happen necessarily this 634 00:36:52,240 --> 00:36:56,000 fast and the team keep shipping. So last week they introduced 635 00:36:56,000 --> 00:36:58,600 spot Bitcoin. This week they launched their 636 00:36:58,600 --> 00:37:04,080 EVM market loved it briefly token shot the 28 and then 637 00:37:04,080 --> 00:37:11,080 immediately sold off holding it at 2375 Mando. 638 00:37:11,080 --> 00:37:15,720 Curious for your thoughts here on hype was this sell the news 639 00:37:17,480 --> 00:37:19,200 Should people get bowled up on the EBM? 640 00:37:19,200 --> 00:37:22,400 I'm I'm struggling a little bit still to see kind of I haven't 641 00:37:22,400 --> 00:37:24,360 dug in It's like what is the EBM on hype? 642 00:37:24,360 --> 00:37:26,480 Well, the. EBM would now be like they 643 00:37:26,480 --> 00:37:29,400 maybe, you know, if you hold hype, you'll get involved in a 644 00:37:29,400 --> 00:37:31,480 bunch of things that are going to get built on there. 645 00:37:31,480 --> 00:37:33,960 There's a hope that it turns into a bit more of AD 5 chain. 646 00:37:36,400 --> 00:37:41,160 I don't know if that's going to happen, but like maybe it does. 647 00:37:42,640 --> 00:37:48,320 I would say that I I I personally continue to think 648 00:37:48,320 --> 00:37:51,320 that hype looks slightly overvalued like at this at this 649 00:37:51,640 --> 00:37:54,760 like really does have to show itself as a as a as a chain 650 00:37:54,760 --> 00:37:56,760 here. There's a lot of talk about like 651 00:37:56,760 --> 00:37:58,760 the unlocks don't matter, but the unlocks start in September 652 00:37:58,760 --> 00:38:05,920 and they're not small. So 23 billion FTV for a perp 653 00:38:05,920 --> 00:38:07,600 decks that's that's very, very high. 654 00:38:07,600 --> 00:38:10,040 So but if everyone says it's a chain, it's a chain, but then it 655 00:38:10,040 --> 00:38:12,640 has to be a chain and we have to see what it's going to do. 656 00:38:13,160 --> 00:38:20,000 So because in terms of its buyback like it's not that 657 00:38:20,000 --> 00:38:24,680 dissimilar to Radium. It's not and Radium trades at 4 658 00:38:24,680 --> 00:38:31,520 billion FTV. So if you're going to say, hey, 659 00:38:31,520 --> 00:38:34,200 to me, it's a buyback coin, then it looks overvalued. 660 00:38:34,440 --> 00:38:36,920 If it's, if it's chained, then we get to see what it builds out 661 00:38:36,920 --> 00:38:39,800 and maybe it does become like an AirDrop coin like with these 662 00:38:39,800 --> 00:38:42,160 things being built. I don't know about that bit yet, 663 00:38:43,600 --> 00:38:49,320 but let's see. I, I like it. 664 00:38:49,600 --> 00:38:54,080 I like it because it's stable and does well on on on on days 665 00:38:54,080 --> 00:38:55,120 where everyone's getting wrecked. 666 00:38:55,120 --> 00:38:57,160 It always does really well on days like. 667 00:38:57,760 --> 00:38:59,400 You know. It was like, Oh my God, I wish I 668 00:38:59,400 --> 00:39:01,120 had hyper liquid on the day that everything else is down like 669 00:39:01,160 --> 00:39:05,440 30%. But but now the EMS out like it 670 00:39:05,440 --> 00:39:08,360 does become a bit more of a right, like they've actually 671 00:39:08,360 --> 00:39:09,920 shipped. It's like an abstract moment. 672 00:39:10,000 --> 00:39:11,560 You know, they've shipped it now. 673 00:39:11,720 --> 00:39:14,680 So. Now we'll see what it has to be 674 00:39:14,680 --> 00:39:17,600 good at people to use so it gets evaluated differently. 675 00:39:17,640 --> 00:39:24,320 It my read on hype without with without being deep in it is like 676 00:39:24,320 --> 00:39:26,960 in a bull market, like if bitcoins are pumping, I feel 677 00:39:26,960 --> 00:39:28,520 like hype is going to be one of the bigger movers. 678 00:39:29,200 --> 00:39:33,160 But in a chop zone, slight with slight bearish trends where 679 00:39:33,160 --> 00:39:36,960 everyone's trying to evaluate real value, it's going to be 680 00:39:36,960 --> 00:39:38,440 tougher. And it's been outperforming 681 00:39:38,440 --> 00:39:43,920 everything over the last weeks and it's been grinding up. 682 00:39:44,360 --> 00:39:49,880 But it does feel like it's facing maybe a little bit more 683 00:39:49,880 --> 00:39:52,440 scrutiny right now. And just like the blind optimism 684 00:39:52,440 --> 00:39:56,960 that I had is starting to to maybe go away a little bit. 685 00:39:57,720 --> 00:40:00,040 Well, I think The thing is you have to appreciate this has been 686 00:40:00,040 --> 00:40:04,040 a great trade. Like I said, this Froak asked me 687 00:40:04,040 --> 00:40:08,240 about JLP the other day because JLP, he bought it like 4.7. 688 00:40:08,640 --> 00:40:10,600 He's like JLP has been down only since I bought it. 689 00:40:11,280 --> 00:40:14,560 I was like, brother, what else would you have bought? 690 00:40:15,640 --> 00:40:19,640 Like GLP is now at 4.2 from 4.7, so it's down 15%. 691 00:40:19,720 --> 00:40:22,920 Bitcoin's down 15%, Ether's down way more than that. 692 00:40:22,920 --> 00:40:25,760 So long as down way more than that Trump fartcoin. 693 00:40:25,760 --> 00:40:28,000 Any other mean you could have bought is down more than that. 694 00:40:28,760 --> 00:40:32,160 The good thing about hype is that like even now it's kind of 695 00:40:32,160 --> 00:40:34,560 unchanged ish. Like it's maybe down a little 696 00:40:34,560 --> 00:40:38,560 bit from, from like that peak where everyone was buying stuff 697 00:40:38,560 --> 00:40:42,280 in like in January, I think it was trading more like 28 and now 698 00:40:42,280 --> 00:40:44,480 it's at 23. So down maybe it's down like 20% 699 00:40:45,000 --> 00:40:48,080 or 15%, but like it's, it's quite volatile. 700 00:40:50,320 --> 00:40:52,120 I, I'm not saying the hype trade's over, but like I would, 701 00:40:52,120 --> 00:40:54,920 I also wouldn't feel regrets that you didn't sell the top on 702 00:40:54,920 --> 00:40:56,840 hype. Like, well, like you didn't get 703 00:40:56,840 --> 00:41:00,680 like people have been destroyed in everything else. 704 00:41:01,240 --> 00:41:05,240 Yeah, relatively it's still the strongest even if you, yeah, no 705 00:41:05,240 --> 00:41:07,600 one really bought too much above 30I. 706 00:41:07,600 --> 00:41:11,440 I didn't I didn't buy it 33, but luckily my average is still far 707 00:41:11,440 --> 00:41:14,840 below that. It's holding up very well. 708 00:41:15,280 --> 00:41:18,400 So we'll see what the EBM has to offer. 709 00:41:19,080 --> 00:41:21,640 What else? So we got to briefly talk about 710 00:41:21,640 --> 00:41:23,920 abstract. So there was an exploit on 711 00:41:23,920 --> 00:41:27,920 abstract earlier this morning. It looks like the issue is 712 00:41:27,920 --> 00:41:31,720 solely tied to this Card X app. I think it's a game. 713 00:41:32,000 --> 00:41:34,320 If anyone had interacted with that app, it looks like they 714 00:41:34,320 --> 00:41:39,040 have given some permissions to this team which has proven to be 715 00:41:39,040 --> 00:41:40,960 malicious and they started draining wallets. 716 00:41:41,560 --> 00:41:46,120 I think I saw a total that was like 500,000 drained as of 717 00:41:46,120 --> 00:41:48,960 before the show, so fairly large, not great. 718 00:41:49,800 --> 00:41:51,920 SIGAR has come out and said this is not a broader issue with 719 00:41:51,920 --> 00:41:54,960 their contracts for the abstract global wallet. 720 00:41:55,520 --> 00:42:00,280 It is siloed to those who have interacted with this app. 721 00:42:01,000 --> 00:42:06,200 And he's got a full report coming later so that happened. 722 00:42:06,200 --> 00:42:09,080 If you interacted, please go go through it and do your revoke 723 00:42:10,080 --> 00:42:12,880 and and we will see you know what the team comes out with 724 00:42:12,880 --> 00:42:15,560 later on this one. I don't know. 725 00:42:15,560 --> 00:42:18,400 There's really a whole lot else to say here, but let's wait for 726 00:42:18,400 --> 00:42:22,280 the the dust to settle. Press bigger news was out of the 727 00:42:22,280 --> 00:42:25,920 Derek Devin Finzer and and open C and they've changed their 728 00:42:25,920 --> 00:42:29,040 farming program. Logan not not sure if you were 729 00:42:29,040 --> 00:42:33,080 if you were close to this one. It looks like they're taking the 730 00:42:33,080 --> 00:42:34,880 community feedback. So what's the change here? 731 00:42:35,400 --> 00:42:39,280 You have a view. So of course, much like we saw 732 00:42:39,320 --> 00:42:42,800 with like blur, right, for providing points, I think they 733 00:42:42,800 --> 00:42:46,000 were called points as well with blur right, for listing, 734 00:42:46,000 --> 00:42:49,600 bidding, those types of things that lots of people surmise, you 735 00:42:49,600 --> 00:42:54,480 know, drags down NFT prices. That's what Open C was doing. 736 00:42:54,480 --> 00:42:58,680 And based on tons and tons of criticism and and feedback on 737 00:42:58,680 --> 00:43:01,840 the timeline, they went ahead and they paused that for this 738 00:43:01,840 --> 00:43:05,400 point in time and going to continue to give XP via these 739 00:43:05,400 --> 00:43:08,840 like little shipment things, which I believe have started to 740 00:43:08,840 --> 00:43:12,160 go out for select actions. If you provided feedback, things 741 00:43:12,160 --> 00:43:16,000 like that via the Discord. And then also to going to, you 742 00:43:16,000 --> 00:43:20,040 know, provide that XP for those buying and holding as you see 743 00:43:20,040 --> 00:43:24,120 you've had highlighted on the screen here, Tyler, I don't 744 00:43:24,120 --> 00:43:26,640 know, you know, what to say really too much. 745 00:43:26,640 --> 00:43:30,360 I understand both sides here where people had a right to be 746 00:43:30,360 --> 00:43:34,160 upset that they saw Blur do this for how many years? 747 00:43:35,120 --> 00:43:37,440 They saw the negative feedback that Blur got for it. 748 00:43:37,440 --> 00:43:40,120 They saw, you know, of course, and gathered, hopefully gathered 749 00:43:40,120 --> 00:43:42,720 plenty of data and information about what happened to the price 750 00:43:42,720 --> 00:43:46,360 of NF TS and the actions of farmers related to those NF TS 751 00:43:46,880 --> 00:43:50,200 whilst this was happening. Yet they still put it in place, 752 00:43:50,600 --> 00:43:56,280 but to their credit, more or less quickly changed course 753 00:43:56,280 --> 00:43:58,280 here, right? This just opened in public 754 00:43:58,280 --> 00:44:02,320 access on Thursday, last Thursday, the 13th when they 755 00:44:02,320 --> 00:44:07,520 announced that. So we haven't seen too many 756 00:44:07,520 --> 00:44:10,200 teams be willing to make snap changes like this. 757 00:44:10,200 --> 00:44:12,320 So I'm going to give them a little bit of credit there. 758 00:44:12,840 --> 00:44:14,840 But I I do understand the criticisms. 759 00:44:14,920 --> 00:44:17,920 As you know, this was a loud issue for a long time prior to 760 00:44:17,960 --> 00:44:21,040 OS 2. So I, I think the community is, 761 00:44:21,080 --> 00:44:24,200 you know, totally in its right to, you know, to be loud here. 762 00:44:24,600 --> 00:44:27,000 I guess, you know, just moving forward, like continue to 763 00:44:27,240 --> 00:44:30,120 continue to be loud, but do so in a way that is, you know, you 764 00:44:30,120 --> 00:44:33,120 highlighted the vitriol here, you know, do so in a way that's 765 00:44:33,400 --> 00:44:36,640 helpful and beneficial for all parties involved. 766 00:44:36,640 --> 00:44:40,080 You don't again, need to be, you know, a hater just to hate. 767 00:44:40,160 --> 00:44:42,640 I think too, too often I'm guilty of this as well. 768 00:44:42,640 --> 00:44:45,080 But like too often, we're critical without providing any 769 00:44:45,080 --> 00:44:47,760 potential solutions in this space. 770 00:44:47,920 --> 00:44:51,040 It's a common a common thing that was happening here. 771 00:44:52,400 --> 00:44:55,280 We'll see what open C does, but good to see them to make the 772 00:44:55,280 --> 00:44:59,120 change at the very least. Damn this market is getting 773 00:44:59,240 --> 00:45:01,840 smashed boys. Oh no. 774 00:45:03,240 --> 00:45:05,920 You looking at this? What else is good? 775 00:45:06,760 --> 00:45:09,640 Just in general, Like it's every time I look at it. 776 00:45:10,360 --> 00:45:12,720 Yeah. Far coins too. 777 00:45:12,880 --> 00:45:13,560 Too handled. Oh, oh, oh. 778 00:45:13,760 --> 00:45:16,760 Yeah, I don't need the. I don't need to do that. 779 00:45:18,520 --> 00:45:21,320 Well, that's not great. I want to round out the the open 780 00:45:21,320 --> 00:45:23,680 C combo real quick. And then you can perhaps go back 781 00:45:23,680 --> 00:45:27,320 to some of the prices. People are mad online. 782 00:45:27,320 --> 00:45:29,960 Like that much is very clear. And for whatever reason, 783 00:45:29,960 --> 00:45:32,080 everyone is just rooting for Open C to fail. 784 00:45:32,880 --> 00:45:35,560 And they just want to say they can get their AirDrop and then 785 00:45:35,560 --> 00:45:36,800 sell and move on with their lives. 786 00:45:36,800 --> 00:45:38,480 And that doesn't. That point of view doesn't 787 00:45:38,480 --> 00:45:41,960 really make sense. It's a very immature mindset. 788 00:45:43,240 --> 00:45:45,640 I think it was this was a good message from, from Finzer. 789 00:45:45,640 --> 00:45:50,760 I will say though, like you kind of hit it, Logan, that they had 790 00:45:50,760 --> 00:45:53,320 to know there was going to be pushed back on a, on a point 791 00:45:53,320 --> 00:45:55,880 system like this and they still launched it anyway. 792 00:45:57,880 --> 00:46:00,080 And then they changed course in the first week. 793 00:46:00,280 --> 00:46:02,480 It's good to be flexible. It's good to listen to feedback. 794 00:46:02,480 --> 00:46:05,800 But you know, they, they still launched it, right? 795 00:46:05,800 --> 00:46:09,480 So I think there is some responsibility for for having 796 00:46:09,480 --> 00:46:11,960 done that. But I see his point too. 797 00:46:11,960 --> 00:46:14,240 I mean he basically says like, hey, you guys, like we we still 798 00:46:14,240 --> 00:46:16,600 have to have liquidity like we're trying to be the number 799 00:46:16,600 --> 00:46:19,600 one marketplace. So like we have to do something 800 00:46:19,960 --> 00:46:23,360 so. And sorry, Tyler, I mean, Finzer 801 00:46:23,360 --> 00:46:27,000 mentioned, I believe in the initial announcement and there's 802 00:46:27,000 --> 00:46:28,760 a comment from the general manager of the Open C 803 00:46:28,760 --> 00:46:32,120 Foundation, right? They want C to play some sort of 804 00:46:32,120 --> 00:46:34,520 role in the future of, you know, this what they want this to be a 805 00:46:34,520 --> 00:46:36,880 long term thing. Like they got to figure out a 806 00:46:36,880 --> 00:46:39,840 way to get people to use it to earn the token, to have the 807 00:46:39,840 --> 00:46:41,760 token make sense for the platform. 808 00:46:41,760 --> 00:46:43,640 Like it's not going to be perfect. 809 00:46:43,640 --> 00:46:45,920 They're going to mess probably lots more things up. 810 00:46:47,560 --> 00:46:51,280 It just isn't really helpful to anyone to just like, you know, 811 00:46:51,800 --> 00:46:56,400 loudly, loudly, loudly complain in a way that's not beneficial 812 00:46:56,920 --> 00:46:59,600 and not providing any constructive feedback at all, 813 00:46:59,800 --> 00:47:01,520 which you know, again, is what's happening here. 814 00:47:01,880 --> 00:47:03,640 People are just looking for people right now. 815 00:47:03,960 --> 00:47:05,760 Like, yeah, everybody needs a punching bag. 816 00:47:05,760 --> 00:47:07,600 That's. For sure, the reality is being 817 00:47:07,600 --> 00:47:09,480 a. Meme account because I just feel 818 00:47:09,480 --> 00:47:13,160 like people want laughs but but it's it's tough I think people 819 00:47:13,160 --> 00:47:15,560 just looking for boogeymen all over the place I. 820 00:47:15,600 --> 00:47:18,280 Think a part of the problem is the NFTS are down and people 821 00:47:18,280 --> 00:47:21,400 were just immediately blaming open sea for that when the 822 00:47:21,520 --> 00:47:25,840 reality is no one, there's no buyers for these entities like 823 00:47:25,840 --> 00:47:28,720 right now like that. That is the stone reality. 824 00:47:29,240 --> 00:47:31,400 You know what does have buyers board at Yacht Club? 825 00:47:32,400 --> 00:47:37,720 Yeah, board 8.4. So so folks are are still buying 826 00:47:37,720 --> 00:47:41,600 those captains are up 19%. I didn't see that. 827 00:47:41,600 --> 00:47:43,840 So there's still, there is still some green on the board. 828 00:47:44,040 --> 00:47:47,440 Kaido down 60%. Not a huge surprise. 829 00:47:47,720 --> 00:47:51,080 Where punk's at? Punks are 35 1/2 they're they're 830 00:47:51,080 --> 00:47:55,880 basically trading even right there we got some glimpse of 831 00:47:55,880 --> 00:47:58,520 perhaps what the AirDrop will be worth for the Kaido NFTS Those 832 00:47:58,520 --> 00:48:04,000 were trading around 11 yesterday 7 eighth shaved that's 17 to 833 00:48:04,000 --> 00:48:08,040 $20,000 it's. Nice. 834 00:48:08,800 --> 00:48:12,400 I mean, The thing is about the Kaido NFTS is there was a decent 835 00:48:12,400 --> 00:48:17,520 window to buy those sub 5 like the first week or two. 836 00:48:17,840 --> 00:48:21,520 So anyone who was an early buyer is free rolling that they're 837 00:48:21,520 --> 00:48:23,720 dropped. So they're still feeling pretty 838 00:48:23,720 --> 00:48:27,200 good about that. I, I was showing the AIAI market 839 00:48:27,200 --> 00:48:31,880 caps down to 5.75 billion. It was 22 billion. 840 00:48:31,960 --> 00:48:34,880 Wow. It was 22 billion I think at 841 00:48:34,880 --> 00:48:37,120 peak and that was around New Year's. 842 00:48:38,000 --> 00:48:40,200 So it's down. 22 billion at news it's. 843 00:48:40,960 --> 00:48:44,280 All happened so fast. Briefly Wicked up to like 22 is 844 00:48:44,280 --> 00:48:51,000 the peak on this chart. And it's it's not like nothing 845 00:48:51,000 --> 00:48:54,440 in Solana is unscathed effectively. 846 00:48:54,480 --> 00:48:57,800 So let's take a look like Virtuals is down 10%, AI 16 Z is 847 00:48:57,800 --> 00:49:00,640 down 18% and they just released their product road map over the 848 00:49:00,640 --> 00:49:02,440 weekend, which was largely overshadowed. 849 00:49:03,200 --> 00:49:05,480 Perhaps we'll get into that later this week. 850 00:49:05,640 --> 00:49:08,040 If our coin's down to 28%. It's just getting whacked. 851 00:49:08,720 --> 00:49:11,440 It had the biggest moves up and it's having the the biggest 852 00:49:11,440 --> 00:49:17,600 moves down. Brother, MLG is the one Epic 853 00:49:17,600 --> 00:49:21,400 might flip MLG here. I was trading at 240 million or 854 00:49:21,840 --> 00:49:26,120 whatever it was. Oh no, gaming meme coins. 855 00:49:26,640 --> 00:49:28,840 Gaming meme coins, that's. Not great. 856 00:49:28,920 --> 00:49:31,160 Don't don't disrespect the OG my friend. 857 00:49:34,280 --> 00:49:37,800 No one thought no one thought Epic would flip flip MLG like 858 00:49:37,800 --> 00:49:41,040 this. This is a This is a wild one. 859 00:49:41,040 --> 00:49:45,880 Look at that chart. That is, that's stairs down, but 860 00:49:45,880 --> 00:49:49,120 also elevator down type. I mean, those are stairs. 861 00:49:50,160 --> 00:49:52,520 The thing is like I feel like this is also the risk of like 862 00:49:52,520 --> 00:50:00,040 this one just it went straight up from 5 million to 150 million 863 00:50:00,040 --> 00:50:03,400 in four days. So you don't have any 864 00:50:03,400 --> 00:50:06,320 incremental buyers. Like no one bought this like in 865 00:50:06,320 --> 00:50:09,520 this one daily candle it went from 30 million to 150. 866 00:50:09,920 --> 00:50:11,840 Yeah, a lot of people lost money on this one. 867 00:50:11,840 --> 00:50:14,000 I, I, I lost money on this one. I bought it around whatever it 868 00:50:14,000 --> 00:50:18,280 was on one of those dips. It had all the momentum. 869 00:50:18,280 --> 00:50:20,040 We're we're talking on this show like it. 870 00:50:20,040 --> 00:50:22,200 It seemed like there was a maybe, perhaps like a mog, the 871 00:50:22,200 --> 00:50:24,360 MLG rotation and the gaming narrative. 872 00:50:25,240 --> 00:50:28,120 Aiden Ross starting to get behind it and still had a little 873 00:50:28,120 --> 00:50:33,200 bit more shine. I mean, hopefully it comes back. 874 00:50:33,200 --> 00:50:36,520 I I still like the narrative, but like that is a, it feels 875 00:50:36,520 --> 00:50:39,280 like it's more going to be something to bash that that 876 00:50:39,280 --> 00:50:43,360 group with rather than, you know, like it's tough now to 877 00:50:43,360 --> 00:50:47,720 separate it from that. I think it can have another arc 878 00:50:47,720 --> 00:50:50,800 up, it just needs time to be kind of separated from the the 879 00:50:50,800 --> 00:50:53,400 recent narrative. That's that's my view. 880 00:50:53,400 --> 00:50:57,080 So hopefully. Influences like Soul Jakey and 881 00:50:57,440 --> 00:51:02,160 and the the vape boys. But but I don't know like it's 882 00:51:02,160 --> 00:51:04,680 weird. It feels as though it's mixed 883 00:51:04,680 --> 00:51:06,800 now, like everyone, everyone was looking for people to attack. 884 00:51:06,800 --> 00:51:08,600 I saw the red guy's video the other day. 885 00:51:08,720 --> 00:51:09,880 Obviously I'm a big fan of a guy. 886 00:51:11,200 --> 00:51:16,120 Same. I think it's, it is tough. 887 00:51:17,560 --> 00:51:22,600 I would say that like there wasn't there was a noticeable 888 00:51:22,600 --> 00:51:26,200 change in in that group's content from from like we're 889 00:51:26,200 --> 00:51:30,080 going to interview founders to like we're just going to like 890 00:51:30,120 --> 00:51:32,960 stream trading meme coins. And I think that was actually 891 00:51:32,960 --> 00:51:35,440 that's been the main thing. And I think he admits like that 892 00:51:35,520 --> 00:51:38,200 that was like maybe an error because the show just wanted to 893 00:51:38,200 --> 00:51:40,360 be like, which coin are we going to buy today? 894 00:51:40,360 --> 00:51:47,400 But it is clear that that people wanted that content too, right? 895 00:51:47,400 --> 00:51:51,240 Like people, it's very easy to blame influencing this scenario. 896 00:51:51,240 --> 00:51:54,960 And obviously there was there's layers of scam here and rigging 897 00:51:54,960 --> 00:51:56,440 of the game, which you think will be very, very annoyed 898 00:51:56,440 --> 00:52:00,000 about. But like, I think everyone also 899 00:52:00,000 --> 00:52:01,960 was here for the casino at the same time, right? 900 00:52:02,200 --> 00:52:04,440 Like we can't, we can't, we can't say that we weren't here 901 00:52:04,440 --> 00:52:06,000 for the casino. We can say that we didn't like 902 00:52:06,000 --> 00:52:07,800 the rigged games. But like it's very, very clear 903 00:52:07,800 --> 00:52:09,200 that like people did want that content. 904 00:52:09,200 --> 00:52:11,520 So like to find boogeyman from the people who were like maybe 905 00:52:11,520 --> 00:52:14,800 the most vocal players of the casino game. 906 00:52:15,200 --> 00:52:17,080 I don't know. Yeah, I agree. 907 00:52:17,080 --> 00:52:18,880 It went too far. I mean, I'm I'm guilty of it. 908 00:52:19,320 --> 00:52:22,200 I've talked quite a bit about meme coins over the last year 909 00:52:22,200 --> 00:52:23,880 like that. That's what it's where the 910 00:52:23,880 --> 00:52:25,760 action was. This is where the the hot ball 911 00:52:25,920 --> 00:52:29,560 of money was hopefully didn't over promote it. 912 00:52:29,920 --> 00:52:33,360 I think one of my gripes with the LA House was there it felt 913 00:52:33,360 --> 00:52:36,640 like they were kind of the lead promoters of some of the tokens 914 00:52:36,640 --> 00:52:39,560 in like the Internet, capital markets and. 915 00:52:39,760 --> 00:52:43,560 Hyper rotation stuff I think is the thing that that was painful. 916 00:52:43,920 --> 00:52:46,080 But credit to the third guy. He he addressed it and said, 917 00:52:46,080 --> 00:52:49,480 hey, like I, I meant I did this. It was a mistake. 918 00:52:51,040 --> 00:52:52,640 I think he got caught on, caught up in it. 919 00:52:52,800 --> 00:52:55,360 He had genuine intentions. You think so? 920 00:52:55,360 --> 00:52:57,280 He'll be able to pull through it. 921 00:52:59,320 --> 00:53:01,000 We'll see there. There's just a lot of anger out 922 00:53:01,000 --> 00:53:02,040 there. Logan, I feel like you're going 923 00:53:02,040 --> 00:53:05,120 to jump in. Yeah, you guys, you guys said 924 00:53:05,120 --> 00:53:09,640 it, it, you know, tough time because it was the thing to 925 00:53:09,640 --> 00:53:10,920 report on. Yeah. 926 00:53:10,920 --> 00:53:13,880 I mean, you had you had to in some way so participating, you 927 00:53:13,880 --> 00:53:16,120 know put you in that spotlight, particularly when you have that 928 00:53:16,120 --> 00:53:19,760 many eyeballs as those as those folks do so. 929 00:53:20,000 --> 00:53:22,440 These tokens were seeing a billion dollars a day in volume. 930 00:53:22,440 --> 00:53:27,360 Like this was an insanely large market, just unfortunate it was 931 00:53:27,360 --> 00:53:29,040 more rigged than perhaps we realized.