1 00:00:05,200 --> 00:00:10,280 Good morning everyone and welcome to another episode of 2 00:00:10,280 --> 00:00:15,800 FOMO. Our today is Friday, June 27th, 3 00:00:16,280 --> 00:00:19,720 2025. And folks, it was in fact joyful 4 00:00:19,720 --> 00:00:23,840 June, just not for our magic Internet money for stocks. 5 00:00:24,000 --> 00:00:28,280 The China trade deal supposedly done more peace potentially in 6 00:00:28,280 --> 00:00:30,880 the Middle East and the stock market is loving at finding new 7 00:00:30,880 --> 00:00:32,920 all time highs here again this morning. 8 00:00:32,920 --> 00:00:36,480 And yet our crypto coins just continue to chop and go 9 00:00:36,480 --> 00:00:38,680 sideways. And now we're asking, will it be 10 00:00:38,680 --> 00:00:41,480 a joyful July? We're going to break it all down 11 00:00:41,720 --> 00:00:44,680 on today's show. No for Oak Mando going to be 12 00:00:44,680 --> 00:00:48,000 stopping by, but we've got stats in the house along with Logan 13 00:00:48,200 --> 00:00:49,440 stats. Do you how you doing? 14 00:00:49,440 --> 00:00:50,480 What's up? Man, how you doing? 15 00:00:51,600 --> 00:00:54,320 Doing great, even even better now. 16 00:00:54,480 --> 00:00:57,400 Happy that we were able to to convince you to come up. 17 00:00:58,080 --> 00:01:01,160 Oh yeah, no, I mean, we discussed it Tuesday and I'm in 18 00:01:01,160 --> 00:01:02,080 when I'm in. You know that. 19 00:01:02,640 --> 00:01:05,000 I love that we got to talk about is Donald Trump going to win the 20 00:01:05,000 --> 00:01:07,680 Nobel Peace Prize in 2025? That's the that's the hottest 21 00:01:07,680 --> 00:01:10,080 question on my mind this morning. 22 00:01:10,240 --> 00:01:12,640 So I'm I'm very curious for your thoughts on that. 23 00:01:14,440 --> 00:01:17,360 Logie, thanks for being with us all week, my friend. 24 00:01:17,360 --> 00:01:19,440 Jim, how are you doing of? Course, Yeah, good morning. 25 00:01:19,440 --> 00:01:21,600 I'm doing well. Temperatures finally dropping, 26 00:01:21,600 --> 00:01:25,600 but bringing the market down with them here in PA, so I don't 27 00:01:25,600 --> 00:01:29,480 know, feels like it's OK. Long week, beautiful week. 28 00:01:29,480 --> 00:01:31,880 For the most part, I can't complain too much. 29 00:01:33,080 --> 00:01:36,200 You know, it might have been one of those first 30 minute 30 00:01:36,200 --> 00:01:38,720 shakeouts because we did do everything Bitcoin down to one 31 00:01:38,720 --> 00:01:41,720 of those 66, but now we're already back up folks. 32 00:01:41,720 --> 00:01:44,280 We got Mando on with us as well here this morning. 33 00:01:44,280 --> 00:01:45,360 Mando, GM. How? 34 00:01:45,400 --> 00:01:47,120 Are you fantastic? How are you? 35 00:01:47,880 --> 00:01:49,880 Doing great folks. We we have a full house. 36 00:01:49,880 --> 00:01:52,800 I'm excited for today's show. As we look to wrap up the week. 37 00:01:52,800 --> 00:01:54,440 What are we talking about? We're going to start with the 38 00:01:54,440 --> 00:01:56,880 market report. This China trade deal supposedly 39 00:01:56,880 --> 00:02:00,160 done, perhaps peace with Gaza in the next two weeks. 40 00:02:00,160 --> 00:02:03,640 Stocks at all time high, big moves and rate cut offs this 41 00:02:03,640 --> 00:02:05,800 morning as well. We'll talk about that. 42 00:02:06,040 --> 00:02:08,479 Coinbase stock hitting a new all time high yesterday on the back 43 00:02:08,479 --> 00:02:11,440 of their perps crypto perhaps in 401 KS. 44 00:02:11,440 --> 00:02:13,560 I want to talk about that. In some recent polling I did, 45 00:02:13,760 --> 00:02:18,120 we've got 2 new $1 billion crypto treasury companies in the 46 00:02:18,120 --> 00:02:20,280 past 24 hours. That's not slowing down. 47 00:02:20,680 --> 00:02:23,520 I want to talk about David Sacks saying it's going to be a big 48 00:02:23,600 --> 00:02:27,400 July Legend Nano S being phased out. 49 00:02:27,840 --> 00:02:30,360 A bit of a surprise. Has Info 5 gone too far? 50 00:02:30,720 --> 00:02:34,560 And a lot more before we dive into it shout out to our partner 51 00:02:34,560 --> 00:02:36,840 starting with wallet connect wallet connect is the 52 00:02:36,840 --> 00:02:39,760 connectivity network shaping the future of on chain UX. 53 00:02:39,960 --> 00:02:42,720 If you've connected to a web 3 app, you've seen wallet connect 54 00:02:42,720 --> 00:02:46,560 that blue logo, it's everywhere, an icon of trust in crypto as 55 00:02:46,560 --> 00:02:48,360 recognizable as Visa at the checkout. 56 00:02:48,480 --> 00:02:51,640 If you want to learn more, follow at Wallet Connect on X 57 00:02:51,680 --> 00:02:53,960 and Telegram to stay ahead of what's next. 58 00:02:54,080 --> 00:02:58,280 And Cracking Pro gives active traders exactly what they need, 59 00:02:58,280 --> 00:03:01,520 deep liquidity, full customization, and 350 plus 60 00:03:01,520 --> 00:03:03,760 trading pairs. Build your own layout with drag 61 00:03:03,760 --> 00:03:06,480 and drop modules and trade seamlessly across desktop or 62 00:03:06,480 --> 00:03:09,800 mobile. Go to pro.cracking.com and trade 63 00:03:09,800 --> 00:03:12,200 without tradeoffs. We got into this yesterday. 64 00:03:12,200 --> 00:03:14,840 Big news out of Kraken this week, they lost the new crack 65 00:03:14,840 --> 00:03:16,880 app. It is their global payments app 66 00:03:16,880 --> 00:03:20,840 competing with Venmo, PayPal and more with a crypto twist. 67 00:03:20,840 --> 00:03:24,720 So go check that out as well. All right, we've got a lot to 68 00:03:24,720 --> 00:03:27,400 get into. Oh yeah, I didn't mention two 69 00:03:27,400 --> 00:03:28,480 eat winners today. It's park corn. 70 00:03:28,480 --> 00:03:31,560 Friday, I buried the lead. What we will do? 71 00:03:31,560 --> 00:03:34,200 Double winners here and do a coin race at the end of the 72 00:03:34,200 --> 00:03:36,720 show. So we're always excited about 73 00:03:36,720 --> 00:03:39,160 that. Mando, if you're ready, let's 74 00:03:39,160 --> 00:03:51,040 get into it. Can you dig it? 75 00:03:52,080 --> 00:03:54,200 GM everyone. So yeah, I think a bit of just a 76 00:03:54,200 --> 00:03:56,760 stable day, if I'm honest. I was trying to look through 77 00:03:56,760 --> 00:03:58,360 news that was really moving the market. 78 00:03:59,240 --> 00:04:03,680 Bitcoin did had like they think all the way up to about 108 K 79 00:04:03,680 --> 00:04:08,080 yesterday and then and then touched I think close to 1:06. 80 00:04:10,320 --> 00:04:13,120 And but it's been it's been relatively stable. 81 00:04:13,320 --> 00:04:18,200 I would say in terms of altcoin movers again it's been it's been 82 00:04:18,200 --> 00:04:21,720 mixed. I would say again say is is 83 00:04:21,959 --> 00:04:26,320 seemingly having a good day. But in terms of Bitcoin Solana 84 00:04:26,320 --> 00:04:29,480 Eve, most of them are kind of unchanged on the day. 85 00:04:29,480 --> 00:04:32,600 Again, haven't really seen any great outperformance by by 86 00:04:32,600 --> 00:04:35,640 anyone, although altcoins have felt a little bit better, I 87 00:04:35,640 --> 00:04:38,080 would say on the whole than than they have been feeling. 88 00:04:38,360 --> 00:04:42,320 So that's a decent sign. I think the main story here 89 00:04:42,320 --> 00:04:47,160 though is just that the focus seems to be on crypto stocks and 90 00:04:47,160 --> 00:04:49,400 it's not just crypto. There's like been big moves in 91 00:04:49,400 --> 00:04:53,200 some like robotic stocks and some AI stocks, but feels as 92 00:04:53,200 --> 00:04:57,160 though Coinbase in an all time high is probably the biggest 93 00:04:57,160 --> 00:04:59,480 news of the day. Because I think a lot of people 94 00:04:59,480 --> 00:05:02,560 consider like Coinbase almost like a major at this stage. 95 00:05:03,120 --> 00:05:06,280 And it's taking, I think it's taking some of the focus away 96 00:05:06,280 --> 00:05:11,040 from, from altcoins, from just the crypto markets in general, 97 00:05:11,040 --> 00:05:14,000 even in a, in a period where we continue to see decent inflows 98 00:05:14,080 --> 00:05:18,760 into ETF products kind of across the board. 99 00:05:18,920 --> 00:05:24,160 But but yeah, Coinbase being up 20% over the last five days. 100 00:05:24,480 --> 00:05:27,440 That's that's a pretty big move if you, if you consider that 101 00:05:27,440 --> 00:05:31,800 kind of like a major, so to speak, It's and that's, it's, 102 00:05:32,880 --> 00:05:36,440 that's obviously on the back of the big move in Robin Hood stock 103 00:05:36,520 --> 00:05:40,760 and circle. And yeah, decent move in some of 104 00:05:40,760 --> 00:05:43,400 the some of the miners too. So yeah, it's just interesting 105 00:05:43,400 --> 00:05:44,760 to see that this narrative has come back. 106 00:05:44,760 --> 00:05:46,600 They are all down a little bit today. 107 00:05:46,720 --> 00:05:52,640 So coin based on circle both goes down just like about 5-6 108 00:05:52,640 --> 00:05:56,360 percent today. So coming back off the highs, 109 00:05:56,360 --> 00:06:01,680 but that is the, I don't know the focus I think of the 110 00:06:01,680 --> 00:06:06,160 majority of the market. Yeah, I think that is fair. 111 00:06:06,160 --> 00:06:08,080 A bit surprising to see that Coinbase move. 112 00:06:08,080 --> 00:06:10,800 I'll get into it in a minute. A few macro headlines that I did 113 00:06:10,800 --> 00:06:14,640 see and I'm curious for your thoughts and maybe pull stats 114 00:06:14,640 --> 00:06:19,680 into this as well. So we got kind of surprise sound 115 00:06:19,680 --> 00:06:23,120 bite news out of Trump yesterday that they officially signed a 116 00:06:23,120 --> 00:06:26,920 deal with China and he said it was done a couple days ago. 117 00:06:27,760 --> 00:06:30,880 So I thought that was fairly noteworthy. 118 00:06:32,160 --> 00:06:35,360 Yeah. Then I think we also saw, yeah, 119 00:06:35,360 --> 00:06:39,440 some talk of rate cuts. We also saw there was a 120 00:06:39,440 --> 00:06:43,560 different comment that they're talking about that Trump and 121 00:06:43,560 --> 00:06:48,480 Netanyahu agreed to end hostilities in Gaza within two 122 00:06:48,480 --> 00:06:50,080 weeks and expand these Abraham Accords. 123 00:06:50,880 --> 00:06:53,760 That felt like fairly big, just as well done. 124 00:06:54,440 --> 00:06:56,400 No, that's why. Yeah, I think there were 125 00:06:56,400 --> 00:06:58,200 definitely a few macro headlines yesterday. 126 00:06:58,760 --> 00:07:02,480 So like you said, it was this this story that we could be 127 00:07:02,480 --> 00:07:06,280 getting a deal out of China. And the USI saw Trump mention 128 00:07:06,280 --> 00:07:09,600 that a couple of officials mentioned this had been done, 129 00:07:09,600 --> 00:07:12,560 but maybe not all the details. It seems as though there's going 130 00:07:12,560 --> 00:07:15,280 to be some tariffs left in place, but they've they're going 131 00:07:15,280 --> 00:07:16,680 to be less than what they have been. 132 00:07:16,720 --> 00:07:19,840 And I don't know what the all the side deals are for something 133 00:07:19,840 --> 00:07:26,280 like that, but that's in place. And then, yeah, I think you, it 134 00:07:26,280 --> 00:07:28,320 seems very likely again that we're going to get a September 135 00:07:28,320 --> 00:07:29,560 rate cut. There's been some talk about 136 00:07:29,560 --> 00:07:34,360 that, some slightly weaker data coming out of the jobs market, 137 00:07:34,840 --> 00:07:36,800 which think allows them to to do that. 138 00:07:36,920 --> 00:07:40,040 And there was some weak data coming out of China as well this 139 00:07:40,040 --> 00:07:43,920 morning. But macro seems quiet to me now. 140 00:07:43,920 --> 00:07:46,960 And I, I very much as we spoke about on the show earlier this 141 00:07:46,960 --> 00:07:52,480 week, I, I very much expect a post for now broader ceasefire 142 00:07:52,480 --> 00:07:55,160 that's peace deal across across the Middle East. 143 00:07:56,640 --> 00:08:00,360 I think that will be in reach. I've got, I've got some 144 00:08:00,360 --> 00:08:02,240 reactions to that. I'm looking at the rate cut odds 145 00:08:02,240 --> 00:08:07,200 here first. So just last week it was at 30% 146 00:08:09,160 --> 00:08:13,360 chance to to hold rate cuts steady in September and now 147 00:08:13,360 --> 00:08:16,760 that's down to 9%. So that's pretty substantial. 148 00:08:16,760 --> 00:08:21,160 We're at 90% chance of of one or two cuts in September. 149 00:08:21,160 --> 00:08:23,160 So that's heavily favored. And then I was looking at just 150 00:08:23,160 --> 00:08:30,480 the end of year and it's 80% or 89% chance or 99% chance rather 151 00:08:30,760 --> 00:08:33,360 of at least one cut. We've got 45% chance now of 152 00:08:33,360 --> 00:08:35,720 three. That is the a pretty significant 153 00:08:35,720 --> 00:08:40,200 move in that market. It was at just 27% last week, 154 00:08:40,919 --> 00:08:41,840 so. What do you make? 155 00:08:42,000 --> 00:08:45,920 What do you make of this Coinbase versus hype situation 156 00:08:46,200 --> 00:08:50,360 do you think? Do you think Coinbase is now? 157 00:08:50,760 --> 00:08:53,560 There's a lot of, oh, you know, Coinbase is about to take over 158 00:08:53,560 --> 00:08:55,360 this. I saw some stuff about the tax 159 00:08:55,360 --> 00:09:01,760 benefits of using Coinbase yesterday, but at the same time 160 00:09:01,760 --> 00:09:04,160 that we've seen this before with like big product launches and 161 00:09:04,160 --> 00:09:09,400 Coinbase doesn't necessarily do that. 162 00:09:09,400 --> 00:09:11,080 Well. Obviously people remember 163 00:09:11,080 --> 00:09:13,560 Coinbase NFTS, but even you know, Coinbase international 164 00:09:13,560 --> 00:09:17,000 features is not a huge bit of the market or at least a perp 165 00:09:17,000 --> 00:09:18,640 product is not a huge bit of the market. 166 00:09:19,720 --> 00:09:24,360 Do you think this is this is one of a big headline? 167 00:09:24,400 --> 00:09:28,040 Do you think people will will use it more than than maybe the 168 00:09:28,040 --> 00:09:30,720 market's expecting? Do you think it's bad for pipe 169 00:09:30,720 --> 00:09:36,960 liquid? And then do you think no, I 170 00:09:36,960 --> 00:09:40,040 guess those are the 2 main ones. Like it kind of feels slightly 171 00:09:40,040 --> 00:09:41,640 like the pump fun headline to me now. 172 00:09:41,640 --> 00:09:47,360 Like it's like an overhang until the end of July where like hype 173 00:09:47,360 --> 00:09:50,920 has been this amazing trade and now people have a reason to be 174 00:09:50,920 --> 00:09:56,320 maybe slightly bearish on it. I mean, I, I haven't sold the 175 00:09:56,360 --> 00:10:00,880 the the hype that I bought on that bounce on that dip, sorry. 176 00:10:00,880 --> 00:10:05,800 But it does make me think that it's not going to hit all time 177 00:10:05,800 --> 00:10:10,280 high before the the end of July. And that makes me think that, 178 00:10:11,360 --> 00:10:12,880 you know, it could get beaten down. 179 00:10:12,880 --> 00:10:15,600 I, I don't know what, what, what you, what's your read on it, 180 00:10:15,640 --> 00:10:17,760 Tyler? I think that's fair. 181 00:10:17,760 --> 00:10:24,080 I think my, my gut read is that the the user base that's using 182 00:10:24,240 --> 00:10:28,400 trading perps on hyper liquid is not at risk to move over to 183 00:10:28,400 --> 00:10:31,840 Coinbase. And then I think you can even 184 00:10:31,840 --> 00:10:34,680 paint a bull case that Coinbase will perhaps grow the the 185 00:10:34,680 --> 00:10:39,320 broader perps pie and get more folks into this market. 186 00:10:39,320 --> 00:10:43,720 I think that's a little bit more of a stretch for me right now. 187 00:10:44,360 --> 00:10:49,280 I don't know who is the marginal user who is interested in perps 188 00:10:49,280 --> 00:10:53,720 but just hasn't been doing it over the last five years because 189 00:10:53,720 --> 00:10:55,520 it wasn't offered in their Coinbase account. 190 00:10:57,000 --> 00:10:59,520 But I guess maybe you can make the argument that they just 191 00:11:00,040 --> 00:11:03,560 aren't familiar with what it is. I've heard the some chatter 192 00:11:03,560 --> 00:11:05,760 about, you know, more traditional traders who just do 193 00:11:05,760 --> 00:11:09,320 options and they see perps in their eyes open super wide like 194 00:11:09,320 --> 00:11:11,720 wow, this is awesome stats. Maybe I'll I'll listen to you 195 00:11:11,720 --> 00:11:14,840 and you've got more of a background in in finance than 196 00:11:14,840 --> 00:11:16,000 me. Curious for your thoughts if you 197 00:11:16,360 --> 00:11:18,400 if you think there will be hunger for this product. 198 00:11:19,320 --> 00:11:20,680 Yeah. I mean, I think there will be, 199 00:11:20,680 --> 00:11:24,560 I, I, I personally, I don't know, I haven't like done like 200 00:11:24,560 --> 00:11:27,800 dug deep into the data or whatever, but I, I just see hype 201 00:11:27,800 --> 00:11:30,760 as such a different product and audience than Coinbase. 202 00:11:30,760 --> 00:11:33,560 And maybe that's stupid. I just kind of like associate it 203 00:11:33,560 --> 00:11:37,640 more with the people who kind of live online or who, who kind of 204 00:11:37,640 --> 00:11:42,480 live in Web 3 versus Coinbase, which is just, you know, kind of 205 00:11:43,360 --> 00:11:49,160 a gateway for the United States consumer into crypto and, and 206 00:11:49,160 --> 00:11:50,920 just feels like a different audience. 207 00:11:50,920 --> 00:11:53,520 I, I think I can see a world where you start seeing a lot 208 00:11:53,520 --> 00:11:58,040 more people trading perps because of Coinbase, But I, I 209 00:11:58,040 --> 00:12:01,080 have a hard time seeing that as like some big overhang for hyper 210 00:12:01,080 --> 00:12:02,640 liquid. It just, they, they strike me as 211 00:12:02,640 --> 00:12:06,240 pretty different markets, which, you know, more competition is 212 00:12:06,240 --> 00:12:08,000 never a good thing. Don't get me wrong. 213 00:12:08,240 --> 00:12:12,680 I mean, but I, I just yeah, it, it, it, it wasn't the first 214 00:12:12,680 --> 00:12:14,040 thing that that jumped to mind for me. 215 00:12:15,840 --> 00:12:18,040 I guess it does. You do have to factor in their 216 00:12:18,040 --> 00:12:19,760 growth. So like what are their growth? 217 00:12:21,600 --> 00:12:25,040 What is hyper liquid growth? Yeah, from here, especially if 218 00:12:25,040 --> 00:12:30,320 you the other overhang, and I'll see if I can pull this up, is 219 00:12:30,320 --> 00:12:33,880 Robin Hood teased a pretty big announcement coming on Monday. 220 00:12:35,520 --> 00:12:40,200 And if they're going to throw their hat in this ring, does 221 00:12:40,200 --> 00:12:45,000 that make this even more essentially crowded splits? 222 00:12:45,560 --> 00:12:48,240 Yeah. To catch a token, a moment in 223 00:12:48,240 --> 00:12:53,000 crypto, you won't want to miss. Live stream on Monday at 11 AM 224 00:12:53,000 --> 00:12:55,120 Eastern. Interesting. 225 00:12:55,120 --> 00:12:57,240 What does this mean you think? Yeah. 226 00:12:57,320 --> 00:13:01,040 And this is coupled with that promotion they're doing for 227 00:13:01,040 --> 00:13:04,840 depositing crypto, right? It's kind of pre leading into 228 00:13:04,840 --> 00:13:07,800 this a little bit. Yeah, quick side so quickly, 229 00:13:07,800 --> 00:13:12,320 Robin Hood is going on the offensive on the offense of 230 00:13:12,320 --> 00:13:15,400 trying to get users to deposit crypto on their app, 2% deposit 231 00:13:15,400 --> 00:13:22,360 match or any crypto deposited on their app and held for a year. 232 00:13:22,680 --> 00:13:24,200 You do have to look at the fine print. 233 00:13:24,240 --> 00:13:27,920 The fine print makes it seem a you can't touch it, you can't 234 00:13:27,920 --> 00:13:34,720 withdraw it within that year, and they can claw it back if the 235 00:13:34,720 --> 00:13:38,040 amount deposited goes down in the year. 236 00:13:38,960 --> 00:13:42,080 So I interpreted that and you could make an interpretation 237 00:13:42,080 --> 00:13:47,160 that if Bitcoin drops 2% in the next 20, next 12 months, that 238 00:13:47,160 --> 00:13:50,040 perhaps you lose that deposit. So I think maybe do your own 239 00:13:50,040 --> 00:13:52,720 research on that specific deposit match before you go and 240 00:13:52,720 --> 00:13:56,640 move all your balances over. But clearly I think that the 241 00:13:56,640 --> 00:13:58,960 higher signal is they're going after they're going after it 242 00:13:58,960 --> 00:14:01,560 right now. What do I think this is? 243 00:14:04,800 --> 00:14:07,280 If I had to guess, I think I would probably guess perps. 244 00:14:09,960 --> 00:14:12,560 Boogie Robin. I was gonna say Robin Hood meme 245 00:14:12,560 --> 00:14:16,680 coin but that was just a joke. I I actually don't have any clue 246 00:14:16,680 --> 00:14:20,280 this this e-mail hit inboxes earlier this week, something 247 00:14:20,280 --> 00:14:22,120 that I've flagged to pay attention to. 248 00:14:22,960 --> 00:14:25,480 Didn't really dig far beyond then of course, coupled with 249 00:14:25,480 --> 00:14:31,840 that announcement regarding the deposits perps I think is a good 250 00:14:31,840 --> 00:14:34,480 guess. I could see maybe like a lending 251 00:14:34,560 --> 00:14:37,280 type thing, you know, they're asking for deposits, they're 252 00:14:37,280 --> 00:14:40,160 trying to get your crypto on the app like I, I would imagine it's 253 00:14:40,160 --> 00:14:43,480 tied in some way to that. That's my guess. 254 00:14:43,960 --> 00:14:44,960 What? Types of things. 255 00:14:45,360 --> 00:14:47,400 Open though. Yeah, I don't, I don't know. 256 00:14:48,840 --> 00:14:55,480 I feel like perps to me, but just if I was if let's let's put 257 00:14:55,480 --> 00:14:58,520 on I'm the marketing agency that's done this campaign like 258 00:14:59,280 --> 00:15:02,320 what to catch a like what? What else could it possibly be? 259 00:15:02,320 --> 00:15:03,000 Like? Why am I? 260 00:15:04,680 --> 00:15:09,320 Maybe it's a token launchpad to? Catch a token and I'm kind of 261 00:15:09,320 --> 00:15:11,040 reacting to this live here for the first time. 262 00:15:11,040 --> 00:15:12,960 I saw this and I didn't have a chance to really think through 263 00:15:12,960 --> 00:15:17,000 it ahead of the show. Is it some sort of like, you 264 00:15:17,000 --> 00:15:20,840 know, the token is some sort of reward, you know, is that just 265 00:15:20,920 --> 00:15:24,200 this is just the additional stuff on top of the deposits 266 00:15:24,200 --> 00:15:27,920 thing? That would be kind of lame, but. 267 00:15:29,520 --> 00:15:32,040 I don't know in our comments is saying to catch a token equals 268 00:15:32,040 --> 00:15:34,640 to catch a perp. That's an interesting, 269 00:15:35,320 --> 00:15:40,040 interesting analogy, throwing back from some of those TV shows 270 00:15:40,040 --> 00:15:46,600 that we had. To Catch a Predator, Yes, 271 00:15:50,040 --> 00:15:52,760 exactly. Wow, maybe, maybe Chris Hansen's 272 00:15:52,760 --> 00:15:55,440 going to come out and and launch, launch the Robin Hood 273 00:15:55,440 --> 00:16:00,680 perp platform. I think let's kind of pull pull 274 00:16:00,680 --> 00:16:04,920 this back a bit. Could it be tokenized, 275 00:16:05,560 --> 00:16:09,640 tokenized, stock stuff or no? Tokenized stocks, yeah, could be 276 00:16:09,640 --> 00:16:11,640 possible. No, I mean what do you need? 277 00:16:11,640 --> 00:16:13,800 Tokenized stocks on Robin Hood? You can just buy stocks for 278 00:16:13,800 --> 00:16:15,560 free. I don't know, I don't know. 279 00:16:16,040 --> 00:16:20,000 What's the advantage? I mean, easier to transfer off 280 00:16:20,000 --> 00:16:23,240 the Robin Hood platform, but I can buy, I can buy any stock on 281 00:16:23,240 --> 00:16:28,920 Robin Hood for free right now. Yeah, probably not that one 282 00:16:30,480 --> 00:16:31,960 stash. Do you have a read on just like 283 00:16:31,960 --> 00:16:33,800 the? Broader stocking is a solution 284 00:16:33,800 --> 00:16:36,800 in need of a problem. Like I, I mean, maybe there's 285 00:16:36,800 --> 00:16:39,480 some there there when it comes to international folks or people 286 00:16:39,480 --> 00:16:41,960 who don't have access to all these platforms or whatever. 287 00:16:41,960 --> 00:16:46,080 But like trading stocks in America is free, literally. 288 00:16:46,800 --> 00:16:49,120 Zero, I don't know. I'm happy to take the other side 289 00:16:49,120 --> 00:16:51,720 of that one. I actually think, I think we're 290 00:16:51,720 --> 00:16:57,600 seeing this, this larger trend right now is just the the blur 291 00:16:57,960 --> 00:17:03,960 like blurring the lines between crypto and Tranfi and being able 292 00:17:03,960 --> 00:17:07,240 to do all of these different types of financial transactions 293 00:17:07,400 --> 00:17:10,599 in in one place. And whether that your home base 294 00:17:10,599 --> 00:17:13,520 is on chain, soon you're going to be able to do everything on 295 00:17:13,520 --> 00:17:16,079 chain. Or if you're, if your home base 296 00:17:16,079 --> 00:17:19,640 is within these Robin Hood style apps or even your home bank, 297 00:17:20,240 --> 00:17:22,720 soon you're going to be you're going to be able to do just 298 00:17:22,720 --> 00:17:28,200 about everything there as well. And I think I said on the show 299 00:17:28,200 --> 00:17:31,720 the other the other day, I've actually got more free capital 300 00:17:31,720 --> 00:17:35,360 and liquidity to play with on chains sometimes than I do with 301 00:17:35,360 --> 00:17:37,760 like the bank account. So sometimes it actually is 302 00:17:37,760 --> 00:17:41,640 interesting for me to be able to to actually flip profits from a 303 00:17:41,640 --> 00:17:45,360 meme coin into a tokenized stock trade versus having to go 304 00:17:45,360 --> 00:17:48,240 through other routes. So I actually do see a demand 305 00:17:48,240 --> 00:17:51,360 for that. But can I, can I add 22 little 306 00:17:51,360 --> 00:17:55,040 things to this that for from my perspective, one, they've LED 307 00:17:55,040 --> 00:17:59,240 with central, eastern or whatever that is summertime, 308 00:17:59,240 --> 00:18:00,960 Central European summertime. Is that correct? 309 00:18:01,400 --> 00:18:04,920 And in early May, a Bloomberg report indicated that Robin Hood 310 00:18:04,920 --> 00:18:08,560 was planning to they were investigating, right? 311 00:18:08,560 --> 00:18:11,200 Expressing interest in tokenizing securities on the 312 00:18:11,200 --> 00:18:12,760 Ethereum blockchain. Why? 313 00:18:12,760 --> 00:18:14,920 Why would they lead with the European time here? 314 00:18:16,160 --> 00:18:18,720 Well, that's what I'm saying. I think there's some users like 315 00:18:19,040 --> 00:18:22,720 for us and maybe not all of us. I mean, I think that, I think, I 316 00:18:22,720 --> 00:18:25,800 think Tyler's point is right. Like there are people who who 317 00:18:25,800 --> 00:18:30,440 just kind of keep their finances on, on a Ledger or on Metamask 318 00:18:30,440 --> 00:18:32,440 or wherever they keep their, their on chain. 319 00:18:32,440 --> 00:18:36,680 And, but you know, and, and what I LED with is like, yeah, I mean 320 00:18:36,680 --> 00:18:40,680 to, to, to a European, it's probably a lot harder to buy, to 321 00:18:40,680 --> 00:18:44,320 buy circle stock than it is for me who has a Vanguard Schwab, 322 00:18:44,320 --> 00:18:48,200 Fidelity Interactive broker account in Robin Hood where I 323 00:18:48,200 --> 00:18:50,560 can literally buy any stock for free at any moment. 324 00:18:51,920 --> 00:18:55,960 But yeah, I, I think the idea of international holders or to 325 00:18:55,960 --> 00:18:58,760 Tyler's point, maybe a new generation of folks who just 326 00:18:58,760 --> 00:19:02,600 kind of make on chain their hub. Maybe there's, maybe there's 327 00:19:02,600 --> 00:19:05,520 some use case there. I'd still stand by the idea that 328 00:19:05,520 --> 00:19:10,200 for Robin Hood it makes no sense because it is extremely easy to 329 00:19:10,200 --> 00:19:14,080 buy any stock on Robin Hood in a way that the only thing 330 00:19:14,080 --> 00:19:17,520 tokenization would do is it'd make it easier to take your 331 00:19:17,520 --> 00:19:20,880 money off of Robin Hood. And they're paying 2% to all 332 00:19:20,880 --> 00:19:24,520 their customers to move their money onto Robin Hood. 333 00:19:25,040 --> 00:19:27,680 That that that strikes me. I mean they're literally saying 334 00:19:27,680 --> 00:19:30,800 if you move your 401K here, 100 grand, we will give you 2 grand 335 00:19:30,800 --> 00:19:33,760 of free money. So it just seems like it's a 336 00:19:33,760 --> 00:19:36,200 product whose only use case would be to help people get 337 00:19:36,200 --> 00:19:38,200 money off of Robin Hood. Doesn't feel like something 338 00:19:38,840 --> 00:19:42,800 they'd be prioritizing, but. Logan, one thing I think you did 339 00:19:42,800 --> 00:19:45,160 point out that probably is a good clue. 340 00:19:45,160 --> 00:19:48,720 So this is during Eve Cannes. Eve Cannes is next week. 341 00:19:51,000 --> 00:19:52,560 It starts. Only Tyler even knows that that 342 00:19:52,560 --> 00:19:55,040 exists. Feels like a conference every 343 00:19:55,040 --> 00:19:57,120 week. I only know that exists because 344 00:19:57,120 --> 00:19:59,960 my wife was Justin Cannes, so I've been following. 345 00:20:00,800 --> 00:20:05,000 NYC happening this week, is that right? 346 00:20:05,640 --> 00:20:08,480 I think so. I actually don't know the actual 347 00:20:08,480 --> 00:20:10,880 answer to that. I think people are in New York. 348 00:20:10,880 --> 00:20:13,720 City, someone said. Someone said, oh, you're going 349 00:20:13,720 --> 00:20:15,560 to be in NYC. I was like, what's for what? 350 00:20:15,560 --> 00:20:20,320 Oh NFTNYCI was like I had just forgotten that that was even 351 00:20:20,320 --> 00:20:22,360 happening. Well, permissionless did happen 352 00:20:22,360 --> 00:20:25,080 in NYC this week, which is a bigger conference. 353 00:20:26,040 --> 00:20:31,440 There's a lot of conference NFC. There are too many conferences. 354 00:20:31,600 --> 00:20:34,320 I, I don't know how people go to all these or, or I guess 355 00:20:34,320 --> 00:20:39,120 somebody more seriously, I don't know how there can be compelling 356 00:20:39,120 --> 00:20:44,640 content for attendees at all these conferences when they're 357 00:20:44,640 --> 00:20:47,080 running them out multiple per month. 358 00:20:47,280 --> 00:20:50,720 Things just don't like we're in a fairly accelerated time period 359 00:20:50,720 --> 00:20:52,480 for crypto right now. I think I don't know there's 360 00:20:52,480 --> 00:20:57,160 that much many speeches or topics you can give to capture 361 00:20:57,160 --> 00:20:59,800 an audience's attention on a week over week basis. 362 00:20:59,800 --> 00:21:01,960 At least that's, that's my quick tangent. 363 00:21:01,960 --> 00:21:04,960 But we will see what comes out on Monday. 364 00:21:05,240 --> 00:21:11,000 And if, if it's going to pump our ETH bags, because I do think 365 00:21:11,000 --> 00:21:13,160 Logan, you're, you're right. There is some ETH component to 366 00:21:13,160 --> 00:21:17,680 this, if I had to bet. So we'll, we'll have more info 367 00:21:17,840 --> 00:21:19,280 on Monday. I want to pull us back to some 368 00:21:19,280 --> 00:21:24,120 of the intro and Stas. I'm, I'm curious for this 369 00:21:24,160 --> 00:21:27,080 question, Mando, I'm curious for your answer to this as as well 370 00:21:27,080 --> 00:21:33,120 as someone not in the US. So Trump is five months in 371 00:21:33,680 --> 00:21:35,800 approaching the his first six month report card. 372 00:21:37,760 --> 00:21:39,680 We have potentially a trade deal with China. 373 00:21:40,440 --> 00:21:42,640 We have potentially peace in the Middle East. 374 00:21:44,080 --> 00:21:45,560 What? What grade are you giving him 375 00:21:48,200 --> 00:21:50,680 six months in? It's a good question. 376 00:21:51,200 --> 00:21:54,240 I think you kind of have to be objective here and say that a 377 00:21:54,240 --> 00:21:58,800 lot of the things that he was elected on have either taken 378 00:21:58,800 --> 00:22:01,480 longer or don't seem like they're necessarily going to 379 00:22:01,480 --> 00:22:05,440 happen. So the fiscal conservatism kind 380 00:22:05,440 --> 00:22:07,480 of feels like it's out the window at this stage, right? 381 00:22:07,480 --> 00:22:11,840 Like 10 years gone higher. He's introduced a bill which has 382 00:22:11,840 --> 00:22:14,840 increased budget deficit. Doge is kind of dead now. 383 00:22:15,200 --> 00:22:18,760 So like that bit of it, which I always felt was like the bit 384 00:22:18,760 --> 00:22:20,600 that was most likely to fall by the wayside. 385 00:22:20,600 --> 00:22:25,240 It it feels like it's slightly falling by the wayside on the on 386 00:22:25,240 --> 00:22:30,240 the wars and peace like bit. I think the last week was really 387 00:22:30,240 --> 00:22:33,360 helped the credibility around like a path of that now. 388 00:22:34,160 --> 00:22:37,000 And like maybe by the end of the summer, you get deals both in 389 00:22:37,000 --> 00:22:40,280 Russia, Ukraine and in the Middle East. 390 00:22:40,280 --> 00:22:44,960 And that would be, I think, considered like a big win, 391 00:22:44,960 --> 00:22:49,400 although potentially how he got there clearly, you know, split 392 00:22:49,400 --> 00:22:53,760 some of his base. And then on the immigration 393 00:22:53,760 --> 00:22:58,320 stuff, it's just become like, it's very, very clear, like your 394 00:22:58,320 --> 00:23:02,480 ability to your ability to deport people. 395 00:23:02,480 --> 00:23:05,440 Like that's the case for any, any country, right? 396 00:23:05,440 --> 00:23:07,680 Like a lot of politicians around the world come in and say, hey, 397 00:23:07,680 --> 00:23:08,760 we're going to start deporting people. 398 00:23:09,520 --> 00:23:11,960 Normally it costs like hundreds of thousands of dollars to 399 00:23:11,960 --> 00:23:15,200 support like one person. Like this is what people don't 400 00:23:15,200 --> 00:23:18,720 understand when, when politicians get, get, get 401 00:23:18,720 --> 00:23:20,880 elected for this sort of stuff, It's not, it's not some like 402 00:23:20,880 --> 00:23:23,680 super easy thing to do and you have to work out where they're 403 00:23:23,680 --> 00:23:27,840 going to go. So I, I, I always felt like that 404 00:23:27,840 --> 00:23:30,000 was never really going to happen. 405 00:23:30,000 --> 00:23:36,040 But it does feel at least not in scale that I think that that 406 00:23:36,440 --> 00:23:39,520 with maybe he was elected under the promises, but it does feel 407 00:23:39,520 --> 00:23:41,880 like there's maybe going to a change in some of the policies 408 00:23:41,880 --> 00:23:43,600 around there on an ongoing basis. 409 00:23:43,600 --> 00:23:45,880 So going forward, you might see some changes there. 410 00:23:45,880 --> 00:23:49,120 So if that's what you voted for, I think that he's done well on 411 00:23:49,120 --> 00:23:51,600 some things. Other things have become more 412 00:23:51,600 --> 00:23:54,480 difficult and are clearly going to be more drawn out and caught 413 00:23:54,480 --> 00:23:56,960 up in bureaucracy. And he and he's kind of actually 414 00:23:56,960 --> 00:24:00,720 drifted away pretty hard from the fiscal conservatism side, 415 00:24:00,720 --> 00:24:05,960 which which won over, I think a large but large bit of the like 416 00:24:05,960 --> 00:24:08,680 the billionaire class that kind of that kind of came close to 417 00:24:08,680 --> 00:24:11,240 him with with Elon, right. There was this idea that we're 418 00:24:11,240 --> 00:24:15,440 going to make, we're going to we're going to turn the US 419 00:24:15,440 --> 00:24:19,920 government into a tech firm and and we're going to cut the the 420 00:24:19,920 --> 00:24:21,440 blow. All that, all that sort of stuff 421 00:24:22,520 --> 00:24:24,800 feels that like that's that's kind of formed by the wayside. 422 00:24:24,800 --> 00:24:27,200 So mixed. I think that's. 423 00:24:27,360 --> 00:24:30,320 Fair. I think I'm I'd like. 424 00:24:30,320 --> 00:24:34,520 To I think the, the, the things out there and one, the China 425 00:24:34,520 --> 00:24:38,360 deal is a fabricated problem. You know, I feel like bombing 426 00:24:38,360 --> 00:24:40,560 Iran and then having peace in two days and saying I'm the 427 00:24:40,560 --> 00:24:42,200 peace president feels fabricated. 428 00:24:42,640 --> 00:24:44,280 So I don't think these are like big WS. 429 00:24:44,280 --> 00:24:47,640 I mean, the, the like the stuff he went out on a limb on, like 430 00:24:47,640 --> 00:24:49,720 Ukraine and Russia is going to be over on day one. 431 00:24:50,080 --> 00:24:53,840 It's like it was not hard to know that this is a multi decade 432 00:24:53,840 --> 00:24:56,240 long ethnic conflict. So the fact that he was 433 00:24:56,240 --> 00:24:59,320 blindsided by the fact that this is much more difficult than and 434 00:24:59,320 --> 00:25:02,240 on day one is something that I think anybody could have told 435 00:25:02,240 --> 00:25:06,520 you 6 months ago. But yeah, I mean, you bomb Iran 436 00:25:06,520 --> 00:25:08,800 and then you declare peace and say you're the peace president. 437 00:25:08,800 --> 00:25:12,920 You, you know, I mean, Israel has basically tattered Palestine 438 00:25:12,920 --> 00:25:15,560 to shreds. Like, the minute Netanyahu 439 00:25:15,560 --> 00:25:22,400 decides it's over, it's over. And, and I think Mando's point, 440 00:25:22,560 --> 00:25:25,320 at least, the people I know who are kind of the most in the 441 00:25:25,320 --> 00:25:28,320 Trump camp were so 'cause they thought of fiscal conservatism. 442 00:25:28,960 --> 00:25:32,000 And that doesn't feel like it's something that is on the table 443 00:25:32,000 --> 00:25:34,000 anymore. It feels like we're spending a 444 00:25:34,000 --> 00:25:35,240 lot. I feel like the deficit's going 445 00:25:35,240 --> 00:25:40,880 to be just as expanded this year as it was under Biden, despite 446 00:25:40,880 --> 00:25:42,680 prosperity. Like I wouldn't say that this is 447 00:25:42,680 --> 00:25:47,240 a time of insane conflict. So I mean, if if your goal was 448 00:25:47,240 --> 00:25:50,240 to make it so there were no more illegal immigrants, whoever 449 00:25:50,240 --> 00:25:53,240 entered this country, then I think you see what he's done as 450 00:25:53,240 --> 00:25:57,040 a huge win. If your goal was continuation of 451 00:25:57,040 --> 00:26:00,560 what's been a 20 year stock market rally, I think there's 452 00:26:00,560 --> 00:26:05,720 been a huge win. The dollar is at is down 14% in 453 00:26:05,720 --> 00:26:07,560 three months. So the dollar is getting 454 00:26:07,560 --> 00:26:09,360 shattered. The bond market is kind of 455 00:26:09,360 --> 00:26:12,360 predicting longer term problems because of the fiscal concern. 456 00:26:12,600 --> 00:26:17,160 So I don't know, it just depends on what your personal priorities 457 00:26:17,160 --> 00:26:21,520 or goals were for him. But I think this whole look at 458 00:26:21,520 --> 00:26:25,160 the piece, look at the trade deals, I mean, these were 459 00:26:25,360 --> 00:26:29,560 fabricated problems in some cases that I don't think I'm 460 00:26:29,560 --> 00:26:35,040 like out here, you know, that I'm out here going crazy about, 461 00:26:36,680 --> 00:26:38,480 you know, made for TV deportions. 462 00:26:38,480 --> 00:26:39,960 Like, yeah, I mean, like deportations. 463 00:26:39,960 --> 00:26:42,040 Like, for me, that stuff rubs me the wrong way. 464 00:26:42,280 --> 00:26:45,440 I think there's some people who love seeing undocumented people 465 00:26:45,440 --> 00:26:47,880 get taken from the streets and sent to prison. 466 00:26:47,880 --> 00:26:50,000 So like, for some people, that really is like what gets their 467 00:26:50,000 --> 00:26:52,320 juices flowing For me, that's not, you know, so I think a lot 468 00:26:52,320 --> 00:26:54,200 of the stuff that's kind of under the scenes as far. 469 00:26:54,200 --> 00:26:57,440 As it just kind of depends on your personal bias. 470 00:26:57,440 --> 00:26:59,480 For me, that stuff's pretty hard, you know, But for other 471 00:26:59,480 --> 00:27:00,680 people, that's what makes them happy. 472 00:27:00,680 --> 00:27:02,440 So it's it's hard. It's hard for me to sit here and 473 00:27:02,440 --> 00:27:03,360 tell someone else. What do they? 474 00:27:04,880 --> 00:27:08,200 Yeah, I think fairly objective takes hard to argue with with 475 00:27:08,280 --> 00:27:10,240 any of those. I seem to agree. 476 00:27:10,240 --> 00:27:12,000 I think 1 aspect we haven't talked about was crypto 477 00:27:12,000 --> 00:27:14,960 specifically, which I think is a little bit easier to give him a 478 00:27:14,960 --> 00:27:18,200 positive rating on. Well with with the asterisk that 479 00:27:18,200 --> 00:27:21,320 his personal family dealings could be the the biggest risk 480 00:27:21,840 --> 00:27:25,840 facing the the industry. I'm not a big like, I think the 481 00:27:25,840 --> 00:27:27,880 crypto stuff is good. Like yes, like we have an 482 00:27:27,880 --> 00:27:31,760 administration that like clearly cares a lot about normalizing 483 00:27:31,760 --> 00:27:34,440 crypto. I think that the question is 484 00:27:34,600 --> 00:27:37,400 what what how does this play out over two to three years? 485 00:27:37,400 --> 00:27:40,880 I think to me, the meme coin that he launched was quite 486 00:27:40,880 --> 00:27:42,800 negative. I just think it kind of made a 487 00:27:42,800 --> 00:27:43,920 mockery of the space a little bit. 488 00:27:43,920 --> 00:27:45,640 It made a mockery of him in my view. 489 00:27:45,640 --> 00:27:48,680 It's a lot of like just corruption that is just so 490 00:27:48,680 --> 00:27:52,360 gatewayed via that. Like I have a but but but I do 491 00:27:52,360 --> 00:27:57,400 think like, yeah, from, from a perspective of do you feel much 492 00:27:57,400 --> 00:27:59,600 more comfortable building in crypto in America? 493 00:27:59,600 --> 00:28:02,520 Like no question, you know, like do you feel much more 494 00:28:02,520 --> 00:28:06,400 comfortable that the IRS is less likely to come after you? 495 00:28:06,480 --> 00:28:08,360 I'd say probably you're feeling pretty good about that. 496 00:28:08,400 --> 00:28:11,800 Like I like a lot of this stuff. Do you feel like if you're 497 00:28:11,800 --> 00:28:14,240 cybercongs that the SEC is going to come out? 498 00:28:14,240 --> 00:28:16,280 Like I think a lot of the stuff that really kept people up at 499 00:28:16,280 --> 00:28:19,360 night is no longer a thing. And and that that stuff is 500 00:28:19,360 --> 00:28:21,080 certainly positive for the space, no question. 501 00:28:22,440 --> 00:28:25,440 Do we have any predictions, Do we have any predictions for the 502 00:28:25,440 --> 00:28:30,120 big month of July that that David Sachs is now teasing 503 00:28:30,600 --> 00:28:32,400 David? Sachs sounds like an NFT founder 504 00:28:32,400 --> 00:28:34,520 man, and I've learned not to trust NFT. 505 00:28:34,640 --> 00:28:36,320 Having worked for two NFT companies. 506 00:28:36,320 --> 00:28:37,800 I've learned to not trust NFT founders. 507 00:28:37,800 --> 00:28:40,560 So. Loomis, Loomis has has mastered 508 00:28:40,560 --> 00:28:42,960 that. I mean, Trump also is quite good 509 00:28:42,960 --> 00:28:45,800 at that. And and Sachs is, is learning 510 00:28:46,040 --> 00:28:49,200 clearly. Yeah, July will be a big month, 511 00:28:49,920 --> 00:28:51,880 folks. That was the first headline that 512 00:28:51,880 --> 00:28:53,400 I saw and I thought it ended there. 513 00:28:53,400 --> 00:28:57,040 But then he said with the bill signing for the Genius Acts and 514 00:28:57,040 --> 00:29:02,200 clarity, the market structure bill going to the Senate, if 515 00:29:02,200 --> 00:29:04,760 it's just those two things, I mean, I think that's clearly 516 00:29:04,760 --> 00:29:08,600 good, huge positives. I think those are also somewhat 517 00:29:09,160 --> 00:29:12,880 expected at this point. I think that the rally that we 518 00:29:12,880 --> 00:29:15,280 saw in circle stock, the rally we saw in coin stock was largely 519 00:29:15,280 --> 00:29:17,440 on the back of the Genius Act passing the House. 520 00:29:19,520 --> 00:29:23,200 So it feels like something that is priced in. 521 00:29:23,720 --> 00:29:25,760 I said on yesterday's show we talked about a little bit, I 522 00:29:25,760 --> 00:29:30,680 think wild card is the is crypto accumulation and will we see any 523 00:29:30,680 --> 00:29:35,520 kind of announcements related at least to a plan for that. 524 00:29:35,680 --> 00:29:40,080 I think that's where you could get a a joyful July scenario. 525 00:29:40,560 --> 00:29:43,240 I think a big question is how long does this treasury thing 526 00:29:43,240 --> 00:29:45,560 keep going right? Like right now you can raise 527 00:29:45,560 --> 00:29:49,120 $100 million and pay out your investors $130 million 528 00:29:49,120 --> 00:29:53,800 conservatively in three weeks. You know, and as long as that's 529 00:29:53,800 --> 00:29:57,480 true and that is all money that is flowing into into crypto. 530 00:29:57,480 --> 00:29:59,560 And it's money that's flowing into crypto not cuz people 531 00:29:59,560 --> 00:30:02,520 believe in crypto, but because there's basically an arbitrage 532 00:30:02,520 --> 00:30:08,360 out there. And I to me, it's like if this 533 00:30:08,360 --> 00:30:10,720 continues, that's billions dollars more inflow. 534 00:30:10,720 --> 00:30:13,120 And right now, as you said, like there's no sign of it slowing 535 00:30:13,120 --> 00:30:16,320 down. I fairly am certain that this 536 00:30:16,320 --> 00:30:20,040 will not continue for a long time because it acts like it is 537 00:30:20,040 --> 00:30:22,640 one of those things that truly, truly, truly makes no sense to 538 00:30:22,640 --> 00:30:24,440 me. But for the fact that there's 539 00:30:24,440 --> 00:30:25,720 this paradigm in the marketplace. 540 00:30:26,040 --> 00:30:28,280 And then the question is how does that get unwound? 541 00:30:28,600 --> 00:30:30,720 Does it get unwound? Well, I guess I'll just kind of 542 00:30:30,840 --> 00:30:34,520 continue to hold this treasury company because it's just a good 543 00:30:34,520 --> 00:30:37,480 proxy for owning crypto. Or does it become a thing where 544 00:30:37,480 --> 00:30:39,760 they start trading at a discount and people are like, well, if 545 00:30:39,760 --> 00:30:41,600 it's trading at a discount, we might as well sell the crypto 546 00:30:41,600 --> 00:30:44,480 and pay people back at par and give people free money back. 547 00:30:46,480 --> 00:30:48,720 Like, you know, I mean, Mando suggested they'll be 548 00:30:48,720 --> 00:30:50,600 acquisitions. I, I, I kind of wonder about 549 00:30:50,600 --> 00:30:52,160 that because if you start acquiring too many of these, 550 00:30:52,160 --> 00:30:53,440 eventually you trade at a discount. 551 00:30:55,200 --> 00:30:58,680 But there is a lot of money that is flowing into this. 552 00:30:58,800 --> 00:31:02,800 And it is to me. To me, this is like I've said 553 00:31:02,800 --> 00:31:04,120 this to you, Tyler. I think there will be a 554 00:31:04,120 --> 00:31:07,080 mockumentary about the crazy things that were said during 555 00:31:07,080 --> 00:31:08,880 this period to justify these premiums. 556 00:31:08,880 --> 00:31:10,920 I still have not heard a single thing that's made any sense, 557 00:31:11,200 --> 00:31:12,920 with maybe the exception of Sailor. 558 00:31:13,160 --> 00:31:14,400 And even there I still don't buy it. 559 00:31:14,400 --> 00:31:17,360 But yeah. It's a bet on the operator of 560 00:31:17,360 --> 00:31:20,760 the speedboat cruising, guiding the boat through the river 561 00:31:20,760 --> 00:31:24,600 versus just being at the the whims of the current. 562 00:31:25,720 --> 00:31:28,880 I mean, I haven't, I haven't seen any, any evidence that 563 00:31:28,880 --> 00:31:31,480 these guys are doing anything other than putting oil in the 564 00:31:31,480 --> 00:31:34,280 speed bone driving. That's that's something that 565 00:31:34,280 --> 00:31:36,880 surprised me is that actually the premiums for the Bitcoin 566 00:31:36,880 --> 00:31:40,360 companies seem to be higher than the premiums for the for the 567 00:31:40,800 --> 00:31:44,760 other L ones, right. So like where you could argue 568 00:31:44,760 --> 00:31:47,920 that like, right, they're going to create some form of recurring 569 00:31:48,400 --> 00:31:51,920 income here, like they're going to do some something in Defy or 570 00:31:51,920 --> 00:31:55,040 they're going to do something in staking or something like that. 571 00:31:55,120 --> 00:31:57,680 That's the thing that's almost surprised me more. 572 00:31:58,000 --> 00:32:00,360 It's been like Bitcoin premiums are high. 573 00:32:00,360 --> 00:32:02,280 And maybe that's because like people think all these other 574 00:32:02,280 --> 00:32:05,200 assets are trash and then they'll go all go lower. 575 00:32:05,200 --> 00:32:09,840 But it, it, I agree, the equity story just, it doesn't make 576 00:32:09,840 --> 00:32:12,320 sense. But I, what I don't agree with 577 00:32:12,320 --> 00:32:14,560 you is that we're going to come to an end to this. 578 00:32:14,560 --> 00:32:17,280 I actually think, I actually think we're going to be doing 579 00:32:17,280 --> 00:32:20,120 this for a long time, like at least a year. 580 00:32:20,840 --> 00:32:22,920 Wow. I will, I will take the other 581 00:32:22,920 --> 00:32:24,280 side very wholeheartedly on that. 582 00:32:24,360 --> 00:32:27,560 I, I think that would, I'd say within six months these things 583 00:32:27,560 --> 00:32:30,520 stop trading at Abreva and become untenable. 584 00:32:32,000 --> 00:32:33,280 A lot spins in the market, right? 585 00:32:33,920 --> 00:32:35,360 They're not already untenable though, right? 586 00:32:35,360 --> 00:32:37,760 They just sell the assets. Like. 587 00:32:39,880 --> 00:32:43,040 They just become boring. Well, you start trading at a 588 00:32:43,040 --> 00:32:45,520 discount, then it becomes a weight on crypto. 589 00:32:45,520 --> 00:32:50,120 As opposed to as opposed to a as opposed to a positive. 590 00:32:52,440 --> 00:32:55,160 I think I think it will be another year of this stuff, but 591 00:32:55,200 --> 00:32:57,360 before like the chickens come to roost essentially. 592 00:32:57,360 --> 00:33:00,480 I think I think we'd we will, they'll start to trade a really 593 00:33:00,480 --> 00:33:06,040 bad discount if something systemic hit markets, I reckon. 594 00:33:06,520 --> 00:33:10,840 And crypto, like if crypto nosedive to like 70K right now, 595 00:33:11,520 --> 00:33:12,880 these things would get slaughtered. 596 00:33:13,080 --> 00:33:15,800 Like they would get absolutely slaughtered. 597 00:33:16,360 --> 00:33:18,360 But I think you probably have to have a pretty bearish view on 598 00:33:18,360 --> 00:33:22,000 crypto for the like the chickens to come home to roost here. 599 00:33:22,160 --> 00:33:25,200 I think. I think this really gets exposed 600 00:33:25,200 --> 00:33:29,360 badly in the way that you'll describe it when you know during 601 00:33:29,520 --> 00:33:31,880 like when sailor stock traded at a discount, which is like 602 00:33:31,880 --> 00:33:34,080 throughout the whole bear market, right? 603 00:33:39,200 --> 00:33:43,360 I mean SPAX were the little engine that could and ceased to 604 00:33:43,360 --> 00:33:45,960 be during the bull market. Like eventually there is just 605 00:33:45,960 --> 00:33:49,680 too much supply. And I guess that's part of my 606 00:33:49,680 --> 00:33:52,760 bare case on these things is like, as long as these things 607 00:33:52,760 --> 00:33:56,800 trade at a premium, it is so easy to make money that supply 608 00:33:56,800 --> 00:34:00,360 will just completely continue to flood the market until even in a 609 00:34:00,360 --> 00:34:02,000 bull market, there is just too much. 610 00:34:03,040 --> 00:34:05,360 And the fact that there's absolutely no narrative 611 00:34:05,520 --> 00:34:08,880 whatsoever to justify it, like I think makes it even harder. 612 00:34:11,080 --> 00:34:13,760 And I'm not surprised that it's Bitcoin ones that are doing well 613 00:34:13,920 --> 00:34:15,880 because the reason they're doing well is because sailors doing 614 00:34:15,880 --> 00:34:18,600 well, like these things are doing well 'cause all those 615 00:34:18,600 --> 00:34:20,520 decks just say, look at what Microstrategy's trading at. 616 00:34:20,520 --> 00:34:23,400 Well, that's a Bitcoin company. If I start saying, if I, if I 617 00:34:23,400 --> 00:34:25,679 start buying something else, people are like, well, where's 618 00:34:25,679 --> 00:34:28,440 the, where's the comp that I can like say this is free money 619 00:34:28,440 --> 00:34:30,560 with? And it's 'cause this is all 620 00:34:31,400 --> 00:34:34,239 narrative, silly driven, you know, it's not driven by 621 00:34:34,239 --> 00:34:39,120 anything else. The decks do say that, which is 622 00:34:39,120 --> 00:34:42,120 why I laughed. But I, I just want to set the 623 00:34:42,120 --> 00:34:44,719 stage for our, our casual listeners who may not have been 624 00:34:44,719 --> 00:34:48,560 following this. This week alone, we've had three 625 00:34:49,000 --> 00:34:54,560 $1 billion corporate treasury companies spun up and, and like 626 00:34:54,560 --> 00:34:57,680 a dozen overall at various sizes. 627 00:34:57,720 --> 00:35:02,000 But we got just in the past day, there's been two, this M3 628 00:35:02,000 --> 00:35:05,120 Brigade company, it's from Tether and Blackstone Vets. 629 00:35:05,680 --> 00:35:11,000 And then this digital asset platform backed is raising a 630 00:35:11,040 --> 00:35:14,760 billion or selling a billion in securities for a potential 631 00:35:14,760 --> 00:35:17,120 Bitcoin play. On Monday, we had Anthony 632 00:35:17,120 --> 00:35:21,400 Pompeiano's Pro Capital come out at a billion as well. 633 00:35:23,080 --> 00:35:27,680 The pace is accelerating. It can't keep accelerating from 634 00:35:27,680 --> 00:35:30,920 here much though, right? Like I feel like I'm in the 635 00:35:30,920 --> 00:35:32,640 camp. I'm somewhere between you 2 that 636 00:35:32,640 --> 00:35:34,520 I agree with Amanda that I can see this going out for a year. 637 00:35:34,520 --> 00:35:36,600 I can actually see it going longer, but not at this 638 00:35:36,600 --> 00:35:39,360 breakneck pace. Like, are we going to have 639 00:35:39,360 --> 00:35:42,400 multiple $1 billion corporate treasury companies spinning up 640 00:35:42,400 --> 00:35:45,120 per week? That feels crazy. 641 00:35:45,120 --> 00:35:50,640 Like it feels frothy right now. What I think, what I think what 642 00:35:50,640 --> 00:35:53,400 we will see is more what I've said to you before, which is 643 00:35:53,400 --> 00:35:58,840 that the, I think there's a good chance here that you see more of 644 00:35:58,840 --> 00:36:04,720 the, the real bulk of the NASDAQ approach Treasury strategies 645 00:36:04,720 --> 00:36:11,320 here for, for crypto, not, not random X hotel company from 646 00:36:11,320 --> 00:36:20,360 Japan, Like, you know, like if Google, Microsoft, Amazon, Apple 647 00:36:20,520 --> 00:36:23,280 decided, hey, we're going to put 5% of our corporate treasury, 648 00:36:25,320 --> 00:36:27,440 something like that. Those are the sort of headlines 649 00:36:27,600 --> 00:36:29,880 because you're starting to see the moves in stocks for it. 650 00:36:30,120 --> 00:36:34,640 And these people are driven by stock price to a large extent. 651 00:36:34,640 --> 00:36:38,320 And they, a lot of them have a ton of cash, like absurd amounts 652 00:36:38,320 --> 00:36:42,800 of cash, which they find actually quite difficult to, to, 653 00:36:44,640 --> 00:36:47,520 to do things with. Like mergers are, are often 654 00:36:47,520 --> 00:36:49,240 difficult. They've just related to buybacks 655 00:36:49,240 --> 00:36:52,160 in recent years. But I think we're just by the 656 00:36:52,160 --> 00:36:53,640 end of this year, we'll see that for sure. 657 00:36:55,520 --> 00:37:00,560 So are we in agreement this is bullish for our crypto coins in 658 00:37:00,560 --> 00:37:05,120 the near term and the longer term is a little still TBD? 659 00:37:05,280 --> 00:37:09,920 You can make the bare case. It makes the bear, yeah, it 660 00:37:09,920 --> 00:37:12,000 makes the bear market worse for sure. 661 00:37:12,080 --> 00:37:19,720 This is leverage by by way of like all this is as stat says, 662 00:37:19,720 --> 00:37:23,480 these aren't long term holders like the people doing the 663 00:37:23,480 --> 00:37:25,680 financing here. They're in for a quick buck and, 664 00:37:25,680 --> 00:37:29,440 and and that will mean that when they start trading a discount, 665 00:37:29,440 --> 00:37:31,680 they'll just be like, yeah, let's just sell the Bitcoin, 666 00:37:31,680 --> 00:37:35,320 right so. Yeah. 667 00:37:35,480 --> 00:37:37,440 Are they destroying our chances at an alt season? 668 00:37:39,200 --> 00:37:41,600 Is the net marginal dollar that's flowing into these 669 00:37:42,000 --> 00:37:45,600 Treasury companies taking away I? 670 00:37:45,600 --> 00:37:49,400 Don't know what alts you want to buy, but I look through so many 671 00:37:49,400 --> 00:37:51,480 alts at the moment because I've, I've actually been looking at 672 00:37:51,480 --> 00:37:53,480 the other side of that trade, which is like the short side. 673 00:37:53,480 --> 00:37:57,560 And man, we just have so many different altcoins with just no 674 00:37:57,560 --> 00:38:03,600 product market fit. No, no, no users, terrible 675 00:38:03,600 --> 00:38:10,240 tokenomics. Look at like maybe, maybe, maybe 676 00:38:10,240 --> 00:38:12,120 let's just focus on NFTS for a little bit. 677 00:38:12,120 --> 00:38:15,400 And some of the NFT companies like that, you know, decentral 678 00:38:15,400 --> 00:38:17,360 land. So it trades like $500 million. 679 00:38:19,360 --> 00:38:23,000 I don't, I don't know a single user Decentral even when NFTS 680 00:38:23,000 --> 00:38:26,640 are at their peak and that's a trade at $500 million. 681 00:38:26,720 --> 00:38:30,040 Like I don't know, I think people are waiting for the 2021 682 00:38:30,360 --> 00:38:32,200 altcoin season. It's never coming. 683 00:38:32,280 --> 00:38:35,800 So I think if you're looking for an awkward season which touches 684 00:38:36,480 --> 00:38:40,840 hyper liquid, maybe some D5 if they, if you know, if they if 685 00:38:40,840 --> 00:38:43,760 they managed to capture quite a lot of this move from trapfind 686 00:38:43,760 --> 00:38:48,520 to D5. But who knows, maybe some of the 687 00:38:48,520 --> 00:38:51,000 L ones. But like, I'm not some of the L 688 00:38:51,000 --> 00:38:52,960 ones also look like massively valley to me. 689 00:38:52,960 --> 00:38:56,120 Like I still think some of these alts can continue to bleed lower 690 00:38:56,120 --> 00:38:58,240 for a long time. Like a long long long. 691 00:38:59,440 --> 00:39:03,720 The that the the long Bitcoin and hype short garbage still 692 00:39:03,720 --> 00:39:06,360 very interesting vault, though I think you still have to be 693 00:39:06,360 --> 00:39:07,800 careful what's in your garbage bucket. 694 00:39:08,160 --> 00:39:12,200 Did you have you looked at this Maple finance syrup token I. 695 00:39:12,840 --> 00:39:15,360 I've invested in quite a lot of Maple finance over the years. 696 00:39:15,440 --> 00:39:17,960 Syrup is the stable coin thing, right? 697 00:39:18,600 --> 00:39:21,840 I have some money in that like you. 698 00:39:21,920 --> 00:39:24,720 You can earn like 14% on stables back in the day. 699 00:39:24,720 --> 00:39:28,680 I don't know if you still can. I just thought this was their 700 00:39:28,680 --> 00:39:32,440 overall token. No, if you go to if you go to 701 00:39:32,440 --> 00:39:39,440 Maple dot finance syrup is the name of their of the token that 702 00:39:39,440 --> 00:39:43,000 you get for like a deposit saying they have a 10% stable 703 00:39:43,000 --> 00:39:47,800 coin yield and but part of that is in syrup. 704 00:39:48,680 --> 00:39:50,120 So things like a rewards taken for. 705 00:39:52,200 --> 00:39:55,000 It Is there another way to bet on Maple finance? 706 00:39:55,560 --> 00:40:00,280 Are there other tokens? No, I think syrup is the oh, 707 00:40:00,280 --> 00:40:03,000 actually I think they maybe did have a Maple token back in the 708 00:40:03,000 --> 00:40:04,440 day. This is like they're more like 709 00:40:04,440 --> 00:40:09,720 the the stable coin derivative. You can if you go to Pendle 710 00:40:10,200 --> 00:40:14,760 Pendle dot fi. This is the way that you're able 711 00:40:14,760 --> 00:40:19,680 to like to forward sell interest stable coin yields. 712 00:40:21,120 --> 00:40:25,360 You you can, I'm sure if I go to Maple. 713 00:40:27,040 --> 00:40:29,840 Or is it syrup? While while we're figuring this 714 00:40:29,840 --> 00:40:31,640 out, I think the reason I brought this this one up, I 715 00:40:31,640 --> 00:40:34,920 thought I saw a thesis that stuck out to me from Jonah. 716 00:40:34,920 --> 00:40:40,680 He said his thesis is syrup is going to flip Ave. because in 717 00:40:40,680 --> 00:40:44,600 the era of deregulation, Ave's over collateralized loans are 718 00:40:44,600 --> 00:40:48,000 obsolete. Naples uncollateralized lending 719 00:40:48,000 --> 00:40:51,520 is the future. And I'm just reading off his 720 00:40:51,520 --> 00:40:56,200 thesis and I have not had a chance to to dig in much myself. 721 00:40:58,800 --> 00:41:02,720 But somewhat notable, I mean somewhat timely syrup is the #2 722 00:41:02,720 --> 00:41:07,600 mover on the week. It's trading at 730 million FTV. 723 00:41:07,600 --> 00:41:11,560 What's Abe 20? Oh, it's. 724 00:41:11,560 --> 00:41:13,440 I like the, I like some of the Defy points here. 725 00:41:13,440 --> 00:41:14,960 I think they're interesting. Yeah. 726 00:41:15,000 --> 00:41:17,000 I think they're like, because if you're starting to see trap 727 00:41:17,000 --> 00:41:19,000 fight come back, some of this stuff will stick. 728 00:41:20,240 --> 00:41:24,120 Hyperlink has been the obvious trade there on this sort of 729 00:41:24,120 --> 00:41:27,080 buyback model. There's still going to be some 730 00:41:27,080 --> 00:41:30,480 dogs looks like unit swap isn't going to isn't going to fix 731 00:41:30,480 --> 00:41:34,840 their token for example, but there's going to be some good 732 00:41:34,840 --> 00:41:38,840 trades there I reckon. Maybe they'll decide to go quick 733 00:41:38,840 --> 00:41:41,480 side fictionals in the comments telling us that on April 10th, 734 00:41:42,520 --> 00:41:45,640 this is 2024. I thought 2025, but he said that 735 00:41:45,680 --> 00:41:48,480 Radar reported 42 active users in the central land. 736 00:41:49,600 --> 00:41:54,520 I would have actually taken the under on that probably, and I 737 00:41:54,520 --> 00:41:55,400 actually have an. Opinion. 738 00:41:55,440 --> 00:41:59,360 It's about the same as eight coin for example, give or take I 739 00:41:59,400 --> 00:42:02,920 think 8 point about 600 million. Interesting. 740 00:42:02,960 --> 00:42:05,720 So, so actually decent little pivot to 8 point. 741 00:42:05,720 --> 00:42:07,520 So we got two things are happening. 742 00:42:07,520 --> 00:42:11,040 One the eight point, the 8 point Dow is dissolving. 743 00:42:11,040 --> 00:42:14,080 I think that's done. And then we also got several 744 00:42:14,080 --> 00:42:17,960 updates out of the other side for their persistent metaverse, 745 00:42:17,960 --> 00:42:19,600 some new games coming down the pipe. 746 00:42:19,600 --> 00:42:22,160 Logan, do you have a chance looking at any read on kind of 747 00:42:22,160 --> 00:42:25,000 what's happening here? Not too much on the other side 748 00:42:25,000 --> 00:42:28,520 stuff, but yeah, I was following the ape coin Dow dissolution of 749 00:42:28,520 --> 00:42:31,840 course just came up weaker I guess a few weeks ago. 750 00:42:32,600 --> 00:42:36,200 Garga sort of just throughout the the idea for proposal and it 751 00:42:36,200 --> 00:42:39,120 very quickly moved with a lot of community support to dissolve 752 00:42:39,120 --> 00:42:43,840 this, basically transfer all assets to this entity owned and 753 00:42:43,840 --> 00:42:48,120 operated by Yuka called APECO, you know, and and take away the 754 00:42:48,280 --> 00:42:50,760 basically the governance proposal opportunity that 755 00:42:51,000 --> 00:42:52,960 holders of ape coin previously had, right. 756 00:42:52,960 --> 00:42:55,960 So now it's going to just be kind of the streamlined, I think 757 00:42:55,960 --> 00:42:59,160 the keyword there was like focus or, you know, clarity. 758 00:42:59,360 --> 00:43:01,600 They were, you know, really rallying behind a lot of things 759 00:43:01,600 --> 00:43:04,640 like that, which has been kind of their mantra for the last few 760 00:43:04,640 --> 00:43:06,280 months here. You know, they moved back to 761 00:43:06,280 --> 00:43:08,760 Garga CEO. They've stripped out a lot of 762 00:43:08,760 --> 00:43:12,760 like random IPS that they had acquired to really, really focus 763 00:43:12,760 --> 00:43:16,080 on apes ape chain on the other side. 764 00:43:16,440 --> 00:43:18,200 That's that's clearly what we're seeing. 765 00:43:18,440 --> 00:43:20,560 I don't have, I don't have specifics regarding, you know, 766 00:43:20,560 --> 00:43:23,080 timelines for this, but basically the way it's going to 767 00:43:23,080 --> 00:43:26,800 work is now that it's, you know, they're dissolving, they'll move 768 00:43:26,800 --> 00:43:30,760 the assets over to Aidco and then you know, from from there 769 00:43:30,760 --> 00:43:32,640 on out, everything is just handled by them. 770 00:43:32,840 --> 00:43:35,320 So it's it's pretty straightforward. 771 00:43:35,320 --> 00:43:36,720 I. Think one of the more bullish 772 00:43:36,720 --> 00:43:41,280 catalysts you could hope for. Yeah, it hasn't, hasn't really 773 00:43:41,280 --> 00:43:47,680 done anything for price. It hasn't, but it's also been a 774 00:43:47,680 --> 00:43:52,440 heavy month for me and coins kind of broadly it is 775 00:43:52,440 --> 00:43:53,720 interesting. So like obviously I'm, I'm a 776 00:43:53,720 --> 00:43:57,080 Pingu lover. I hold Pingu I, I hold pudgy 777 00:43:57,080 --> 00:44:00,320 Penguins. The ape coin Pingu spread is an 778 00:44:00,320 --> 00:44:04,320 interesting one. Pingu's at 900 million, APE 779 00:44:04,320 --> 00:44:07,920 Coins at 600 FTV. Yeah, they become. 780 00:44:07,960 --> 00:44:11,000 These are the board of BNT's are higher. 781 00:44:11,600 --> 00:44:13,760 Yeah, I think they become similar tokens. 782 00:44:13,760 --> 00:44:15,800 It's actually a question I have not had answered, but it's a 783 00:44:15,800 --> 00:44:19,960 question I I passed to Yuga was how you would characterize this 784 00:44:20,360 --> 00:44:22,800 ape coin. Now this is no longer it's no 785 00:44:22,800 --> 00:44:26,440 longer a governance token. It's not really a utility token 786 00:44:26,520 --> 00:44:30,600 and neither is Pengu, right. Pengu, I think they've they use 787 00:44:30,600 --> 00:44:33,600 the word culture coin, I believe, right basically brand 788 00:44:33,600 --> 00:44:36,480 coin to to associate with the the Penguin ecosystem. 789 00:44:37,160 --> 00:44:39,640 Erect is the only brand coin I have to jump in and correct you. 790 00:44:39,640 --> 00:44:46,000 I'm not. Sure, but that that's, you know, 791 00:44:46,000 --> 00:44:48,000 what is what is a coin? What's the pitch to people to 792 00:44:48,000 --> 00:44:49,560 hold a coin? It's another question I asked 793 00:44:49,560 --> 00:44:53,840 that's yet to be answered is, you know, if I doubt many people 794 00:44:53,840 --> 00:44:56,760 were holding a coin just to participate in the governance, 795 00:44:56,760 --> 00:44:59,720 right and to act, you know, to have some sort of say over a 796 00:44:59,720 --> 00:45:03,360 coin and ape chain's future. I'm not that naive, but it was 797 00:45:03,360 --> 00:45:05,480 one of the reasons you could hold it right. 798 00:45:05,480 --> 00:45:09,160 You could hold it to participate and to share your vote and feel 799 00:45:09,160 --> 00:45:12,160 like you're active, you know, actively contributing to the 800 00:45:12,160 --> 00:45:15,640 future of ecosystem. Why hold it now? 801 00:45:15,880 --> 00:45:17,920 I haven't seen that answered yet. 802 00:45:18,680 --> 00:45:19,760 That's something I'm curious about. 803 00:45:22,080 --> 00:45:25,600 I'm curious for that answer as well and I struggle a little bit 804 00:45:25,600 --> 00:45:32,120 to to make the the pitch. I guess it's just to bet on yoga 805 00:45:32,240 --> 00:45:35,920 in the other side. Yeah, I, I can't, I can't make 806 00:45:35,920 --> 00:45:40,120 the pitch, but I feel like, I feel like I'm easy to sway 807 00:45:40,120 --> 00:45:43,040 anyway. But I feel like, you know, Garga 808 00:45:43,040 --> 00:45:45,920 and team of course have talked about this, right? 809 00:45:45,920 --> 00:45:47,560 They they know the pitch they want to give. 810 00:45:47,560 --> 00:45:49,320 I assume they know the pitch they want to give. 811 00:45:49,320 --> 00:45:52,880 I just want to hear it because I think I could be, I could come 812 00:45:52,880 --> 00:45:54,920 around to it. I still do actually believe this 813 00:45:54,920 --> 00:45:59,280 is a really strong brand, right? If not the strongest brand in 814 00:45:59,280 --> 00:46:01,840 Web three, one of the strongest brands in Web 3. 815 00:46:02,960 --> 00:46:06,560 If anyone is going to succeed here, if they have a pretty damn 816 00:46:06,560 --> 00:46:10,320 good chance of being one of the ones that do so, I could be 817 00:46:10,320 --> 00:46:12,240 talked into it. I just need I need to know what 818 00:46:12,240 --> 00:46:15,680 it is. Yeah, I'm with you there folks. 819 00:46:15,680 --> 00:46:18,040 We're going to get to our eat spins here in just a minute or 820 00:46:18,040 --> 00:46:19,200 two. The code is Friday. 821 00:46:19,560 --> 00:46:22,240 Last chance to get in again, the code is Friday. 822 00:46:22,240 --> 00:46:27,920 I think another quick, we might not go deep on this, but just 823 00:46:27,920 --> 00:46:32,680 for folks awareness, it does look like Ledger is phasing out 824 00:46:32,680 --> 00:46:36,320 their Nano S product. I think this is very important 825 00:46:36,320 --> 00:46:38,560 to know. A lot of folks use this. 826 00:46:39,480 --> 00:46:44,360 I think this was the entry level Ledger device basically since 827 00:46:44,360 --> 00:46:47,520 2022. A lot of folks on board to this 828 00:46:47,520 --> 00:46:50,160 one. As I understand it, the primary 829 00:46:50,160 --> 00:46:53,400 reason for this is that there's not a whole lot of memory within 830 00:46:53,400 --> 00:46:55,600 the device. So it's hard for them to 831 00:46:55,600 --> 00:47:01,160 continue to maintain this, this device and support several other 832 00:47:01,160 --> 00:47:02,920 block chains. They're basically at capacity 833 00:47:02,920 --> 00:47:05,200 supporting Bitcoin 8 and maybe a few others. 834 00:47:05,920 --> 00:47:09,960 So for them to be able to, to ramp up support over time, 835 00:47:09,960 --> 00:47:14,400 they're effectively asking folks to migrate to newer devices. 836 00:47:14,960 --> 00:47:17,400 They say basically your, your device is not going to stop 837 00:47:17,400 --> 00:47:20,680 working, you're just not going to get any updates. 838 00:47:22,120 --> 00:47:25,400 But I think this is important from an OPSEC perspective to at 839 00:47:25,440 --> 00:47:28,480 least understand this is happening. 840 00:47:28,480 --> 00:47:30,880 And I think I'm curious for both of your thoughts on this. 841 00:47:30,920 --> 00:47:36,280 I, I think about OPSEC when I need to, I'd say at least once a 842 00:47:36,280 --> 00:47:37,720 month. I think once a month I'll, I'll 843 00:47:37,720 --> 00:47:41,360 wake up and sometimes in a, in a cold sweat thinking about this 844 00:47:41,360 --> 00:47:45,120 to a degree. And one of my concerns like you, 845 00:47:45,160 --> 00:47:50,200 you put cold storage out there and you don't want to touch it 846 00:47:50,200 --> 00:47:52,440 for a year, 2 years, three years. 847 00:47:53,240 --> 00:47:55,640 Are you confident that those devices are still going to work? 848 00:47:56,240 --> 00:48:00,880 You put them in APO box and it's collecting dust or not APO box 849 00:48:00,880 --> 00:48:03,880 in a safe deposit box rather and, and you go and collect it 850 00:48:03,960 --> 00:48:08,600 in in two or three years. Are you confident it's all still 851 00:48:08,600 --> 00:48:12,400 going to work? And like here's a sign like are 852 00:48:12,400 --> 00:48:15,160 we confident that the legend AOS is still going to work in two 853 00:48:15,160 --> 00:48:16,920 years? If it's truly cold storage, it's 854 00:48:16,920 --> 00:48:22,280 not being touched. So I think it it so it's this 855 00:48:22,280 --> 00:48:25,560 idea of self custody and cold storage still requires active 856 00:48:25,560 --> 00:48:29,080 maintenance and it's just something I struggle with. 857 00:48:29,120 --> 00:48:31,760 I'm I'm I'm rambling here. That drives me crazy. 858 00:48:31,760 --> 00:48:34,080 I mean, first, I, I think I bought two of these things in 859 00:48:34,080 --> 00:48:36,920 the past year. So that's 300 that's 300 bucks 860 00:48:36,920 --> 00:48:39,720 down the drain, right? Like if you have to upgrade and 861 00:48:39,720 --> 00:48:44,680 I had an experience 88 years ago where for whatever reason, like 862 00:48:44,680 --> 00:48:48,880 my Ledger just would not connect to my computer and I had to like 863 00:48:48,880 --> 00:48:50,360 go. I was, I was living in Hong Kong 864 00:48:50,360 --> 00:48:51,760 at the time. I had to go like buy like a 865 00:48:51,760 --> 00:48:55,240 bunch of new micro USB cords. And then finally I found one 866 00:48:55,240 --> 00:48:58,360 that actually worked. But and then I, I remember I 867 00:48:58,360 --> 00:49:00,280 talked to like one of the founders at a conference and he 868 00:49:00,280 --> 00:49:04,400 like made fun of me for like not knowing how to think about micro 869 00:49:04,400 --> 00:49:06,720 USB. And that like LED just left a 870 00:49:06,720 --> 00:49:08,600 really bad taste in my mouth with Ledger. 871 00:49:08,800 --> 00:49:11,560 Like blaming the user because they can't access the money 872 00:49:11,560 --> 00:49:13,760 which they clearly want like any in crypto. 873 00:49:13,760 --> 00:49:17,640 When we blame users, it's weird because no one wants to it to 874 00:49:17,640 --> 00:49:21,600 work better than the user. Like it's like how you know, how 875 00:49:21,600 --> 00:49:24,360 do you blame someone for doing something that is so much 876 00:49:25,080 --> 00:49:27,240 outside of their interest? You think I want to spend like 4 877 00:49:27,240 --> 00:49:30,040 hours buying new micro USB cords? 878 00:49:30,040 --> 00:49:32,320 And if I didn't live in Hong Kong where it's like electronic 879 00:49:32,320 --> 00:49:34,320 7 electronic seven, who knows what would have happened. 880 00:49:34,760 --> 00:49:38,360 And there's just like the but yeah, it's stuff like this where 881 00:49:38,360 --> 00:49:42,080 like again, there's no, there's no nothing here that says, hey, 882 00:49:42,080 --> 00:49:45,280 if you bought spent 300 bucks on this stuff over the past year, 883 00:49:45,280 --> 00:49:48,120 here's a a code for you. There's none of that. 884 00:49:48,360 --> 00:49:53,760 It's just and and I think you're right, Tyler, like this 885 00:49:53,760 --> 00:49:55,440 technology might not work in 10 years. 886 00:49:55,600 --> 00:49:59,720 And I think it's a problem. It might not be compatible with 887 00:49:59,720 --> 00:50:03,480 where computers are. And I think it if the use case 888 00:50:03,480 --> 00:50:07,040 of these products weren't put something away and make it and 889 00:50:07,040 --> 00:50:08,280 you'll have more money in 10 years. 890 00:50:08,440 --> 00:50:11,560 That's the use case. Like take it now, hide it away 891 00:50:11,560 --> 00:50:12,960 and in 10 years you're going to have it. 892 00:50:13,160 --> 00:50:15,200 And no, there's nothing the government can do about it. 893 00:50:15,200 --> 00:50:17,320 Like that is the use case is that this shit works in 10 894 00:50:17,320 --> 00:50:19,320 years. So when there's just more and 895 00:50:19,320 --> 00:50:21,120 more signs that it might not work in 10 years. 896 00:50:21,400 --> 00:50:23,320 Like that's a. Problem, like I, I feel like the 897 00:50:23,320 --> 00:50:26,480 narratives aren't, aren't, the narratives aren't, aren't where 898 00:50:26,480 --> 00:50:28,840 they need to be. And the narratives aren't fully 899 00:50:28,840 --> 00:50:32,920 honest about, yeah, I mean, yes, I, I, I have my seed phrase, I 900 00:50:32,920 --> 00:50:35,600 should be fine. But like, I mean, they're 901 00:50:35,600 --> 00:50:38,480 sitting here saying like there are going to be fishing risks 902 00:50:38,480 --> 00:50:43,120 now, you know, And it's just, I just like a lot of the value 903 00:50:43,120 --> 00:50:47,320 proposition, a lot more of this stuff gets lost than I think in 904 00:50:47,320 --> 00:50:51,320 like all that many other places where people store money because 905 00:50:51,320 --> 00:50:55,600 of user error and good products have less user error. 906 00:50:58,560 --> 00:51:01,440 We often say like user error is the user's fault, not the 907 00:51:01,440 --> 00:51:03,360 product's fault. I just come from a totally 908 00:51:03,360 --> 00:51:05,800 opposite background where I think like user error means the 909 00:51:05,800 --> 00:51:09,360 product sucks. And yeah, that's, that was 910 00:51:09,360 --> 00:51:11,440 ingrained to me when I was, I was a first fifty employee at 911 00:51:11,440 --> 00:51:14,640 Uber, you know, and, and at Uber, at least when, when we, 912 00:51:14,640 --> 00:51:17,080 when I was there, Travis, the CEO was like, we will never have 913 00:51:17,080 --> 00:51:20,000 instructions in the app because if it's not obvious how to use 914 00:51:20,000 --> 00:51:22,160 our app, then it's our fault. And we need to be, we need and 915 00:51:22,160 --> 00:51:23,360 we need to hire better designers. 916 00:51:23,760 --> 00:51:25,720 Like that's just the mentality I come from. 917 00:51:25,720 --> 00:51:28,560 So I find the jump into crypto where everyone's constantly like 918 00:51:28,560 --> 00:51:29,960 saying, oh, well, these users just suck. 919 00:51:29,960 --> 00:51:32,360 That's their problem. I I that it's one of my biggest 920 00:51:32,360 --> 00:51:34,040 cultural divides with with the community. 921 00:51:35,520 --> 00:51:39,040 I'm with you on most of that. I'm not trying. 922 00:51:39,120 --> 00:51:41,600 I I just still am pro self custody. 923 00:51:42,200 --> 00:51:45,200 I'm I'm not trying to argue come across like I'm against that, 924 00:51:46,600 --> 00:51:50,840 but just I'm very like open minded and and objectively see 925 00:51:50,840 --> 00:51:55,840 the the drawback. What's the connection here? 926 00:51:56,280 --> 00:51:59,320 Just for a second? We're back, good sake. 927 00:52:00,000 --> 00:52:04,360 We're at the end of the show. It is time for coin Friday. 928 00:52:05,000 --> 00:52:09,040 So folks have the last couple minutes here to to get in Sims 929 00:52:09,040 --> 00:52:12,840 if we're ready to to start pulling that up again. 930 00:52:12,840 --> 00:52:19,080 The code Friday or you're going to do 2 winners coin race as we 931 00:52:19,080 --> 00:52:25,040 always do on Fridays. We can get this up and running 932 00:52:25,440 --> 00:52:28,360 quick while we wait for Sims. Hopefully folks enjoyed our our 933 00:52:28,760 --> 00:52:30,920 our new streaming ticker at the bottom of the screen. 934 00:52:30,920 --> 00:52:34,840 Let us know your thoughts Sims working hard to get that up and 935 00:52:34,840 --> 00:52:39,840 updated real time stock or tickers in there every 10 to 15 936 00:52:39,840 --> 00:52:44,280 minutes. Let us know what you think All 937 00:52:44,280 --> 00:52:48,440 right, Sims is here. We are going to spin the wheel, 938 00:52:48,440 --> 00:52:50,360 Zoom in. Good luck, everyone. 939 00:52:54,840 --> 00:52:56,360 There he is. Got some music. 940 00:52:58,080 --> 00:53:00,480 I'm saying it's nice, but green, you know, we like the green. 941 00:53:00,480 --> 00:53:02,120 It matches our car skin. Odette. 942 00:53:02,120 --> 00:53:05,520 Odette. I don't recall saying that. 943 00:53:06,040 --> 00:53:07,360 Hey, no. I think that should be a clean 944 00:53:07,360 --> 00:53:09,240 winner. That's that's approved. 945 00:53:09,920 --> 00:53:13,720 All right, Odette, you won. So that is Odetta NFT in kick 946 00:53:13,720 --> 00:53:17,200 chat. Either jump up on the space or 947 00:53:17,680 --> 00:53:20,480 drop us a comment. You can always do it in chats. 948 00:53:20,480 --> 00:53:23,480 We don't have full Twitter integration at the moment, but 949 00:53:23,480 --> 00:53:25,240 we will do soon. So you can just do it in the, 950 00:53:25,240 --> 00:53:28,080 you can do it in the chat and get people's what they want to 951 00:53:28,080 --> 00:53:30,640 go with all. Right, second winner. 952 00:53:32,400 --> 00:53:42,080 Here's #2 who we got Mitzi. All right, Mitzi. 953 00:53:43,840 --> 00:53:46,280 Also approved. All right, two clean winners 954 00:53:46,280 --> 00:53:49,080 here today. So Odette and Menzie Mitzi, go 955 00:53:49,080 --> 00:53:52,800 ahead and drop us a comment in the chat. 956 00:53:53,120 --> 00:53:55,600 Chat is on fire right now. It is making it a little harder. 957 00:53:56,000 --> 00:53:58,400 Odette turn FT on Mitzi players is who we're looking for. 958 00:53:58,720 --> 00:53:59,880 All right. I haven't seen them yet. 959 00:54:00,680 --> 00:54:02,320 I have not seen either of these folks. 960 00:54:02,520 --> 00:54:04,720 So hopefully they are on with us. 961 00:54:05,360 --> 00:54:08,920 There's Mitzi players, Yep. All right, Mitzi clean winner 962 00:54:08,920 --> 00:54:11,360 here. So the way today works others. 963 00:54:11,360 --> 00:54:12,760 Oh dad, all right, chat works for me. 964 00:54:13,000 --> 00:54:15,040 OK, folks, so we are going to play coin race. 965 00:54:15,320 --> 00:54:21,920 You beat your banking $500 and we want to do 200 on fartcoin 966 00:54:22,080 --> 00:54:24,040 mandatory and I get to pick the other. 967 00:54:24,040 --> 00:54:26,080 Is that what we're choosing and we're and we're doing the same 968 00:54:26,080 --> 00:54:33,040 race or separate races? I think what do you want to do 969 00:54:33,040 --> 00:54:35,880 here? I think we could all let's stick 970 00:54:35,880 --> 00:54:36,800 to what we've been normally doing. 971 00:54:36,800 --> 00:54:41,880 So let's do 250 on fart and then first winner who was Odetta can 972 00:54:41,880 --> 00:54:43,800 pick what the two other 250 goes on. 973 00:54:43,800 --> 00:54:49,200 OK, so Odetta, we need you to pick a coin and then for the 974 00:54:49,200 --> 00:54:52,320 second one Mitzi players, he also needs to pick a coin for 975 00:54:52,320 --> 00:54:55,160 the other 250 all. Right Odetta, go ahead and give 976 00:54:55,160 --> 00:54:58,520 us your your pick. You have Bitcoin, Ethereum, 977 00:54:59,280 --> 00:55:03,480 Solana or Doge and those have increasing odds as you go out 978 00:55:03,480 --> 00:55:07,480 the the the risk curve there, assuming you're familiar with 979 00:55:07,480 --> 00:55:11,280 the game. All right, we're waiting on your 980 00:55:11,280 --> 00:55:12,880 pick. I got to pick one. 981 00:55:13,200 --> 00:55:20,360 Just type it, type it away. Bitcoin. 982 00:55:20,520 --> 00:55:22,400 OK all. Right Bitcoin, Fartcoin, barbell 983 00:55:22,400 --> 00:55:24,720 always a a good choice. Mitzi. 984 00:55:25,760 --> 00:55:27,560 Mitzi, do that Salon. All right, So we've got our 985 00:55:27,560 --> 00:55:29,000 bets. So are we doing the same race or 986 00:55:29,000 --> 00:55:32,160 two different ones? I think we do two different ones 987 00:55:32,160 --> 00:55:34,400 and go with it unless you guys want it all in one. 988 00:55:34,400 --> 00:55:37,320 It's your call 0. It makes it harder with you 989 00:55:37,320 --> 00:55:39,480 can't put 500 on fart so we got to do separate. 990 00:55:39,960 --> 00:55:40,720 True. OK. 991 00:55:41,080 --> 00:55:44,720 So Zeta goes 1st 2:50 on Bitcoin 250 on part coin. 992 00:55:44,720 --> 00:55:46,160 Let's go. Let's have it. 993 00:55:48,160 --> 00:55:50,800 All. Right, you're in the next race, 994 00:55:50,800 --> 00:55:52,520 so you can just enjoy watching this one. 995 00:55:52,520 --> 00:55:59,000 No pressure. No, we're fart wins in. 996 00:56:02,120 --> 00:56:02,800 Wow. All right, each one. 997 00:56:02,800 --> 00:56:04,360 That's good. You don't want to. 998 00:56:04,440 --> 00:56:06,800 All right, so we got the each one out of the way. 999 00:56:06,960 --> 00:56:10,480 All right, so here we are. Odetta is your bet on Bitcoin 1000 00:56:10,480 --> 00:56:14,080 250 on fart. Yeah. 1001 00:56:14,080 --> 00:56:17,040 Farts at 53 X. So Beacon. 1002 00:56:17,600 --> 00:56:18,760 Nice little hit if that goes through. 1003 00:56:19,440 --> 00:56:23,640 Good luck, Odetta. Let's go. 1004 00:56:24,480 --> 00:56:29,040 Favor go fart coin Friday. 13 grand if that hits. 1005 00:56:29,520 --> 00:56:34,280 Wow, get it? Not today. 1006 00:56:34,880 --> 00:56:38,240 I just felt not about this. Bitcoins live. 1007 00:56:40,440 --> 00:56:42,120 Oh, bitcoins live. Oh. 1008 00:56:46,520 --> 00:56:48,080 Ghost coin win. Wow. 1009 00:56:48,080 --> 00:56:51,520 All right. Oh, Daddy, you still banked 500 1010 00:56:51,520 --> 00:56:53,560 bucks. That's still Friday. 1011 00:56:53,560 --> 00:56:55,440 All right, Minzi, you're up. Oh, my God. 1012 00:56:55,440 --> 00:57:04,480 Minzi's getting 77 X. 77 on that boy if this head's holy shit. 7X 1013 00:57:04,680 --> 00:57:06,560 on Talana and 73. Two. 1014 00:57:07,360 --> 00:57:09,360 Here we go on 20. All. 1015 00:57:12,000 --> 00:57:14,800 Right, all these will be very good. 1016 00:57:14,800 --> 00:57:18,760 All of them all. Right. 1017 00:57:18,920 --> 00:57:20,120 Good coins out. That's good. 1018 00:57:21,320 --> 00:57:23,200 Hold on. Hold. 1019 00:57:24,000 --> 00:57:30,240 On. What Dogecoin. 1020 00:57:30,560 --> 00:57:31,920 Nobody. Want two in a row? 1021 00:57:31,920 --> 00:57:32,960 Wow, double. Doge. 1022 00:57:33,600 --> 00:57:35,640 Double doge. Double doge. 1023 00:57:36,120 --> 00:57:38,120 Well. Mezzy, you bought you walked 1024 00:57:38,120 --> 00:57:41,840 away 500 bucks as well. Well, the team will coordinate 1025 00:57:41,840 --> 00:57:43,480 with you after the show. Well folks, that's going to be 1026 00:57:43,480 --> 00:57:46,280 it. That is our shows for the week 1027 00:57:46,680 --> 00:57:51,240 for Oak will be back on with us next week, so we are excited for 1028 00:57:51,240 --> 00:57:52,640 that. As always, want to thank our 1029 00:57:52,640 --> 00:57:54,440 listeners for joining us. I want to thank my colors. 1030 00:57:54,440 --> 00:57:57,800 I want to thank our partners. We'll be back Monday at 10 AM 1031 00:57:57,800 --> 00:57:59,960 Eastern. Until then, I want to make stats 1032 00:57:59,960 --> 00:58:00,480 as well. Stats. 1033 00:58:00,480 --> 00:58:01,520 Thanks for joining us, this was great. 1034 00:58:02,160 --> 00:58:04,920 Thanks for having me guys. Go make it a beautiful day. 1035 00:58:05,040 --> 00:58:06,080 Have a great weekend, goodbye.