Trump Pumps Crypto While Stock Market at All Time High

0:51What is up, everybody? Welcome back. Another great day. A blockbuster day yesterday. So it’s going to be a very high energy, high spirit show.

1:01G, so happy to see you again this morning. How are we doing? How are we looking?

1:06I’m doing great. One, great up move yesterday. Two, I got my Siegelman Stables New York Knicks Champions hat in the mail yesterday.

1:19Even though there’s no Knicks logo on it, but, you know, this is the Knicks colorway. So I’m, I’m rocking that today to support the king, Jalen Brunson.

1:29And, and yeah, but like, obviously spirits are great. You know, it’s funny yesterday, man, I remember I saw the, the, the move was delayed.

1:43You had so much time to buy Bitcoin. Yeah. You had, you had a solid five minutes, 10 minutes.

1:52No, I think more. I think more. I do. Like, I remember, man, I remember I saw the news.

1:59I saw the news and then I think the news came out, the market was up. I think the news came out around 830.

2:06I was looking at the market around like nine, 930 around that. And gold was flying.

2:11And I was, I looked at like crypto and I’m like, man, I should just like load the boat here, like five, 10 X leverage.

2:19And then I was like, Oh, let me like take this phone call. And I think ETH was at like 1920.

2:23Yeah. It was 1920. I jumped in a meeting and the guy joined the meeting and was like, damn, that’s crazy.

2:30And I was like, what? He’s like, Oh, the news. And I was like, what’d I miss?

2:34Yeah. And so, yeah, I, I was, I was like, man, I should be loading the boat here because also I think it was last, last episode or maybe last week.

2:42I was like, yeah, I think ETH looks pretty good. You know, more, it looked better than, than Bitcoin.

2:49And so, yeah, I didn’t buy any and I missed it. And then I was just like kind of waiting for a pullback or retracement and I didn’t get anything.

2:57And so I think I’m in a FOMO. I, I, I bought a little bit like last this morning ish, just like small, just to like be involved because I know I’m so late, but I know that if.

3:11If the move did happen, if there’s a pullback, if there’s a pullback, like I’m going to be, I’m going to be buying more.

3:18I do want to highlight, you know, probably the most important part of that is if you can bring up my screen real quick.

3:29All right. You got it. The 10 year, right?

3:32So this gets announced yesterday. The 10 year goes, rates go down.

3:40We retrace the entire amount.

3:42Can you explain this to me? I saw your tweet. You said we’re going to need a bigger boat on this.

3:47Can you explain that to me? I didn’t, I didn’t totally understand what’s going on.

3:52And, and you know, yeah, I’ll be transparently stupid on stream.

3:55So, so basically the reason why gold went up so much yesterday and then crypto is because they effectively are keeping rates lower by buying bonds.

4:09Right. And so that means they’re printing money. Right.

4:13And so this is yield curve control is what the bank of Japan has been doing for the past 30 years, artificially keeping rates lower so that, you know, they can like play this entire circle jerk game of like financing themselves without higher rates and stuff like that.

4:30And so effectively we’ve had, and I, I, you know, like every time we do some form of quantitative easing over the last 20 years, I guess, 30 years, it’s always a little bit different.

4:44They don’t know. Like originally, like the gut, the, the bailout for 2008 was called TARP.

4:50And then there was like QE and then operation twist. And then like, they, they always call it something different.

4:57And it’s always like something a little bit different so that like, it takes market participants some, some time to figure out is like, oh, wait, they just eased. Right.

5:07Yeah. And, um, yield curve control is like the end game for like where this all goes, because ultimately like they can just print unlimited money to buy their bonds to keep rates artificially low.

5:23And so basically what happened yesterday was Besant. He said that, um, starting, I think it’s September 9th or something that they’re going to double the amount of, I think 10 years, the long end of the curve, either the 10 year or the 30 year of that, what they’re going to be buying, uh, to keep rates lower.

5:41So then the market reacts, you know, with lower rates, right. Rates go down. Cause like, oh, there’s intervention. And now like they’re calling the government’s bluff is like, that’s not enough intervention. Right. And so like, granted, this also hasn’t started yet. Right. It starts in like two or three weeks.

5:57And so, um, you know, the, the market sniffing that out. I think if you look at the price of, you know, this, I, I brought it up, um, a couple, a week or two ago, where’s gold. Right. Gold started sniffing this out when we did the yen intervention. Right. This was, I think.

6:20We had a, we had the show. We went over this, that first uptake. Yeah. And so this was the market sniffing it out because we intervene in the yen. Right. And we did something there. And so, you know, gold started catching a bid. Um, this was obviously yesterday because the mark, the markets are going to test, going to test best since will. Right. So at this point, right. It’s, it’s interesting because obviously in the past, the most important player has always been the fed chair, um, with the treasury secretary, uh, you know, having to play their part as well. But like, it seems like Besson is like, all right, like, and listen, like Besson is a macro guy. You know, he knows what, he knows what he’s doing. Um, or he’s a smart market participant.

7:12And so, yeah, I mean, I, I just think this is very interesting. The fact that we have now retraced the entire, uh, move yesterday means that the market’s calling their bluff, which means they’re probably going to have to, to raise the amount that they buy, uh, which is even like more easing, which is even better for, you know, the price of hard assets. Right.

7:36First gold, then, you know, any, anything that you can’t easily make more of, right. Um, Bitcoin, Ethereum, right. Cryptocurrencies are like kind of designed for this. Right. That’s why, um, these things have caught like such a nice, huge bid. I mean, this thing, I mean, I did, I can’t tell you how annoyed I was yesterday. Um, yeah, I mean, that’s nice.

7:58Oh man. And shout out to, dude, shout out to Ansem. Fucking called it. He called it like here, market bottomed. Um, you know, and, and so great job. And, you know, now it’s like, I, you know, listen, I don’t think it’s all necessarily all clear. Like maybe the bottom’s in, but that doesn’t mean we can’t have a, uh.

8:20It does not mean we don’t go back to the mid sixties. Right. Like, right. It doesn’t mean we can’t have like a huge pullback. Right. Because, um, there is market turmoil, like underneath in the sense that like the bond market is reacting and revolting kind of to, to these actions.

8:41So this is like very similar, you know, obviously it’s different. Like in the eighties, was it the eighties or the seventies? Um, when Soros and listen, Besson was part of that team. So he knows firsthand how this works when, uh, they broke the bank of England. Basically the bank of England was trying to support this peg. Um, kind of like the same way, right? Like, like FX buying, buying it in FX markets or yeah. Supporting, supporting the pound in FX markets, interest rates, stuff, all this stuff, all the, all the availability. And they just like took the other side of it. And at some point the market just like overwhelmed them. Right. And so the difference is, I think the U S government is the U S government. And, you know, maybe for, cause listen, I, I’ve this entire thing, like this end game has been around, you know, since I’ve been in markets, you know, like I remember like reading about this in, I, like I was a gold bug really early.

9:41on in my career. I mean, I still am, I believe in like hard assets, which is why I get to take towards crypto, but like I was a gold bug and being like, yeah, like, you know, the, we’re debasing the dollar and you know, all the dollar is going to be worth it. All, all things that are true, but gold necessarily hasn’t gone up as much as you think it should have gone up.

9:59Sure. And that’s like a whole topic and a whole rabbit hole we can go down with in terms of like market manipulation and all of these things of conspiracy theories there.

10:10But like I do think that, you know, this is like a long time coming, but you also have to be understanding of the fact that it’s the U.S. government.

10:21They have a lot of tricks up their sleeve, cards up their sleeve that they can pull out.

10:26And so it’s like pre pre cushioning for because, you know, like not not on the conspiracy side, but like I’ve just we’ve seen Trump operate in a way before where it’s like, all right, I’ll do this because like the bad news or something else we’re going to do is going to pull back certain things.

10:45And so we’ll get ahead of it. And then we can always just pump the market again.

10:49But like this is softening the downside of something else that they might be doing.

10:55Maybe, you know, like I think like on in terms of like macro, like I’m like we the government has they know what they’re going to do.

11:04Right. And they have like if you were to think of it as like a poker game, they have the largest stack.

11:09And let’s say they know. Pretty much what everybody’s cards are right, or let’s say they know what one of their cards are right.

11:18Right. So they kind of know like they have the best view of the game.

11:24And we’ve even seen them, you know, give chips to other players when when they’ve been needed.

11:28Japan, you know, poker game is a great analogy, actually.

11:34I’ve never thought of it in that way.

11:35Yeah. Well, I think like, you know, listen, I know I was actually listening to a Rasmur clip this morning where he was talking about how the trenches are a poker game.

11:43It’s like a social social poker game or something. I’m like, yeah, I mean, I think just trading in general is a poker game.

11:50Right. It’s like it’s a bet. Right. It’s a casino. It’s it’s a way to gamble.

11:56You’re just trying to put the odds in your favor. Right.

11:59Like when you put on a setup or a trade, you’re trying to do it when you think you have like the best odds.

12:06Right. So it’s like if you put on and we talked about this in the past. Right.

12:09If you if you put on like a like I usually tier my trades as ABC.

12:14And so like a C tier is like X, a B tier is, you know, two X and an A tier is like six X.

12:22Right. Something like that. Right. For me. And so when you feel like you really have the odds in your favor, you go bigger because you feel higher conviction in it and stuff like that.

12:31So, you know, I think that it’s interesting times.

12:36Like I said, I still think that to me, the big even like with all of this that just happened, the biggest issue here is global.

12:48Global coordinated intervention, because what ended up happening with the yen and the Bank of Japan was that Europe was kept in the dark.

12:59And if there is some sort of liquidity coordination that is required at some point in the not too distant future.

13:10We don’t know if Europe is going to be like our full ally because of how we’ve been treating them over the last two years.

13:16Right. So, you know, we don’t know if they’re like, oh, well, F you guys, because like we’ve decoupled a lot from the U.S.

13:22So, you know, we’re not. Right. Because like two, three years ago, if the U.S. fails, then Europe fails and Japan fails.

13:29Like it’s all like we were all like on the same boat and we’re going down together.

13:33And now it’s like everybody’s like kind of going out in their own life rafts.

13:37And they’re like, all right, well, if you sink and we’re OK, then that’s fine, because maybe like we want you to sink.

13:45You know, so it’s like very I think it’s very different.

13:47And I think that’s going to be the interesting thing of how we play how this entire thing plays out.

13:53But, yeah, I mean, listen, like the yield curve, the first sniff of yield curve control is here.

14:03And it’s obviously bullish hard assets.

14:07Yeah, I’m I’m paying attention more than I have previously in those markets and to best news.

14:16But still, I think I’m going to continue to play in the trenches, continue trading.

14:22I’ve been accumulating the hell out of Robinhood chain tokens.

14:28Cash Cat, as you can see, coming across the bottom of the screen right now, up 35 percent in the last 24 hours.

14:35You know, it was good and very bullish to see Vlad up there with Trump and talking to Trump yesterday.

14:41The tweet yesterday, just two words, Robinhood chain.

14:44It’s clear that Robinhood wants to absorb as much of the volume from Solana right now.

14:51It’s clear that they’re willing to list tokens on their app and to their customers.

14:56And I believe we are going to see if I’m reading the signal correctly, we’ll see a perps revolution and perps will become very big.

15:08And, you know, the the rumors of Coinbase launching perps, as I think I’ve alluded to on shows, that is that that’s been confirmed.

15:17The rumors of, you know, Polymarket bringing perps live that that basically is confirmed here and we’re seeing even lighter up another 17 percent.

15:28I said this is a fantastic trade because of their positioning with the CTFC and everything that’s happening.

15:34I mean, also getting the blessing of the government here to an extent by, you know, what’s happening with Hyperliquid, we’re going to see, I think, a lot of the allegiances that the current crypto cabinet has really start to fruition.

15:53And I believe Robinhood is probably the one place that will get the green light on things that everybody has assumed are not going to happen.

16:02And I think a lot of that has to do around listings.

16:05So maybe maybe this is also bullish for Coinbase in that regard.

16:10Obviously, they’re up significantly on the day as well.

16:14But I just think as a retail focused side, Robinhood is a much bigger company, has a much bigger active social trading base as well.

16:23And you’re going to see them probably put more marketing into what they’re doing.

16:28And you’ll see more customers probably start to touch these assets and have more upside.

16:33But, yeah, not to take us off the hard asset conversation and gold.

16:37Yeah, no, I mean, listen, I mean, that was, I think, the other really bullish news, right, is Trump came out and, you know, talked about Hyperliquid.

16:45I think my favorite part of that entire thing was that one guy that was, like, smirking the entire time.

16:51It’s, like, you know, like, everyone was, like, let me, like, try to get that thing.

16:56But it’s, like, the memes around him were so good.

17:00Like, you know, like, when you 20x long right before the announcement, like, stuff like that.

17:04It was, like, so good.

17:06A lot of wallet hunters and sniffers out there trying to find the trade.

17:10I mean, that guy has a bag of something.

17:13Yeah, for sure. Most likely Hyperliquid.

17:17Unreal. I’m trying to bring it up. Sorry. My laptop is, like, fried.

17:21I got to get a new one pretty soon.

17:24But what else? I feel like on-chain, obviously, like, you know, it’s great when the majors push, then on-chain usually follows.

17:33So, you know, like, I don’t know.

17:37It feels good. But, like, at the same time, I’m, like, looking at my watch list here and on, like, the AI trade.

17:44The AI trades had a pullback, right?

17:46Nebius actually did their offering this morning.

17:51It was a preferred.

17:52So it’s down on that.

17:54Yeah. We expected this. You predicted 1% pullback.

17:58What is the actual pullback here?

18:00No, I didn’t say a 1% pullback.

18:02Did I? Yeah, you said it would probably be, like, 1%, but it would get gobbled.

18:05I believe your exact words is it would get gobbled up.

18:09I don’t think I said 1%, but I said it would have a pullback, and I thought it would get gobbled up.

18:14One of the Clippers who’s watching this.

18:16Run the Clippers. All right. We’ll see. The – let’s see.

18:21I’m trying to – here we go.

18:24It pulled back, obviously, way more than 1%.

18:26The – man, my computer is so slow.

18:34All right. Where is it? So it’s pulled back to 217 from the high of, like, 280.

18:41You know, it’s, like, holding support. So it was announced yesterday, right?

18:45Weakness on there. It was a preferred deal instead of, like, an equity – an all equity deal.

18:50It was also going to be less diluted than just them issuing stock.

18:55I saw online that a couple people were saying how this could possibly be the lead to some sort of deal announcement, right?

19:06So maybe they get some sort of deal with, like, a hyperscaler or some type of thing coming up soon, which would be, obviously, a bullish catalyst.

19:14But, yeah, I mean, I still really like it, right?

19:17Like, here’s – it’s still kind of, like, holding that gap.

19:20This is the earnings gap from about a week ago.

19:24Is that a week ago? I mean, it’s holding you up well where everything else is getting, you know, hit as well.

19:31Yeah. I mean, it’s just – yeah, I think, like, when I look at this, like, there’s – these are – most of these are commodities.

19:37They’re at the top of the list here.

19:40And then a lot of these are, you know, SpaceX.

19:43SpaceX? I mean, let’s see. Where would – probably maybe, like, around the low 120s maybe?

19:50Or, like, if it – That’s where you’re – Yeah, where it maybe, like, starts to – like, I’ll just keep an eye on it.

19:55Even though I would say, like, I would love it if it got down to, like, maybe 120 and I’d buy some there.

19:59So, like, I’ll just keep an eye on it. But if I see the bottom and maybe whatever, like I’ll, I’ll be, it’s probably the thing I’m most actively watching right now. Like, oh, I would like, like to add to this position. Right.

20:13So we’ll see. But like, I, again, like I said on Tuesday, the thing that changed for me with SpaceX is the fact that I think GrokBot is really good.

20:24But, and I’ve been like, since GrokBot came out and I started using it, like I’m not in the command line interface, like at all.

20:34I don’t think many people were in the command line interface that much. I think I would say probably 90 plus percent of the users, that might be an overestimate, but I would say definitely a majority of the users are just on like the, the desktop or mobile UI for, for most AI applications.

20:53Especially people using co-work for, for agentic stuff, which, you know, it’s still, so I know that’s like mostly localized things, but it does address the, you know, the generic go out and do X, Y, Z for me.

21:09Yeah. So like, I guess as somebody that has used the CLI a lot, I just think that like, if like GrokBot is just like, so it’s just very easy.

21:25And, and that’s like what I have liked about it. So if I think it’s very easy, that means like probably more like less technical people think it’s very easy, which is even better.

21:35Cause like, even like with the, I have found for myself, even like me using like Cloud Code or Codex in their apps, it’s like still a little technical.

21:46Like there’s like, here’s the work tree and what’s the folder you want to put it in. And I’m like, I don’t understand what this means.

21:52And like, am I going to mess this up? And so if I’m like that, I’m sure somebody less technical than me is like that.

21:56But like, I think what GrokBot does really well is just kind of like, you know, what, like I have like 15 different subjects that are open.

22:06And, you know, when I want to work on or talk about a certain subject, I just go to that agent and talk to them about it.

22:13So, so that’s kind of really what like has turned me more bullish on SpaceX.

22:18And so that’s kind of why I’m like, all right, like maybe there’s a fake out. Maybe we go back to Lowe’s, who knows, right?

22:24But like, I also like, again, like this is, was I feeling FOMO here last week? Yeah, absolutely.

22:29I’m like, ah, fuck, I missed it. But, you know, maybe like get some consolidation and then boom.

22:35So we’ll see. Maybe the loads are in, maybe they’re not. Right.

22:39But like, I just think that, yeah, I think the question is whether you believe the AI trade is over or not.

22:46And so I obviously, I still believe that it’s not over.

22:50And, and for those reasons, I’m, I still want to be very long AI.

22:57Right. I sent you over a, a unlock schedule for SpaceX on Telegram just now.

23:06If you want to pull that over. I was sent this by a, a series C investor who, well, after putting money in was diluted to a number that he, he missed out on a ton of money because he got diluted because I don’t know how many series they did.

23:23Um, but if you scroll down, there’s a chart of the unlocks that are coming.

23:27We just hit the first, uh, I think next tranche that, that just hit.

23:33Um, but you can see where the, uh, how the float kind of happens over the next, uh, you know, year, uh, and what we have coming.

23:43Obviously the Musk unlock in July of 27 is the big one.

23:47Right. Um, but basically the, the whole point was, you know, him being a mean coin trader at heart, uh, as float goes up, we usually see a lot of these tokens start to go down.

24:00And as you can see, we’re now starting to see more float come in over the next three months, uh, as we get into 2027, uh, with, I think the first of the year being the, the bigger unlock that we will have.

24:13Um, yeah, I like, listen, I, I agree. I think that, um, that’s always been the issue. Right. Um, although like, you know what I heard, uh, about the unlocks that at least the first unlocks that that happened, man, I forgot who told this to me, but somebody was like, uh, nobody could get their share.

24:31Wait, what? Yeah. Like the reason why, like we went up was because like nobody got their shares. And so like nobody could sell because I guess apparently behind the scenes, like, especially to like, like a lot of the people that were doing the SPV and stuff, like, like a rumor has it that like Elon was like to those platforms, like whatever, like the secondary platforms were being like, yeah, like, you know, like delay the delivery of shares type things. And, you know, everyone’s like, you know, got to praise King Elon. Um, so that’s kind of, uh, that like kind of led to the dynamic. Right. So it’s like, even if you wanted to sell, you couldn’t get your shares.

25:10And so because of that, by the time you get your shares, you’re like, you’re like, yeah, everyone’s expecting the sell pressure. It didn’t come, you know, I, I, I feel like, don’t quote me on this, but I feel like I’ve heard like certain multiple, like multiple versions of that. One is like people not getting their shares. Some being like, yeah, like, like these, uh, some, some of these SPVs are just like the side, like they’re holding the shares and not even distributing it. Right.

25:38Depending on, I think like the terms of the SPV and stuff like that. So, you know, they’re just like sitting there on liquid shares being like, yeah, well we think it’s going higher. So we’re like not going to distribute them to you. Right. So, I don’t know. It’s very interesting.

25:49This is, this is why you should really, the SPV side, you can get screwed so many different ways, um, on them. And obviously, you know, we know this is not your keys, not your, not your tokens.

26:02SPVs are very, very similar to this. Like until, until the equity or until the, the shares are in your control, you kind of shit out of luck. Um, and yeah, I, I don’t know. I don’t know if it was SpaceX specifically another, another company, um, that I passed on and another investor reached out and was like, yeah, this is, this is a mistake. Wrong. Gave money to the wrong people. Um, and I think the company’s doing well.

26:29They just never got access. And by the time they did, things were significantly lower. Um, yeah, we’ll have to see, but we’ll keep SpaceX on the, uh, the radar here. Uh, obviously again, if you haven’t tried a GrokBot, it sounds like we’re getting a pretty strong endorsement from G here. So definitely check that out. Um, I’m looking down, I see FWA coming across the bottom here, down to $20 million market cap.

26:55They did announce, uh, their first fair launch using FWA, um, which I found interesting. It’s a cool looking collection. It comes with some perks. You get early access to, uh, exclusive features, um, as well as I think a few other things, but, uh, was not like a blockbuster, you know, mint that everybody was going to, I think, sprint to and try to get.

27:22Um, I, I love that there’s, they’re playing into the save Ethereum, uh, you know, marketing campaign here. Just would love to get your take on, you know, now that we see that pulled back on the price there, you’ve been a huge advocate for it. Um, what, what do you think’s next? What’s your take on, on the price action?

27:41Yeah. So I, I agree with you and listen, I think Adam kind of also set expectations there when he was on the show, right? He was like, we’re going to do a small collection launch from the team as like a proof of concept. And then he said, our first drop isn’t going to be like a blockbuster that like everyone is thinking. He’s like, but I’m excited about it. So he did set the expectations, right?

28:07He did, you know, set those, those, uh, expectations. Correct. I think the artwork on those things are really cool.

28:15Yeah, they’re cool. If I, yeah, like if I wanted to buy one, like I would definitely be spinning. Uh, I think we’ll see like how much that leads to an increase in spins. Um, and then also with the save Ethereum one.

28:29And so I think it’s one of those things that also, if you’re like a big artist and like, you know, I think like this thing about bold, bold here for a second is like, you don’t want to be like the guinea pig per se and like be the one that like people learn on because he knows, he knows he can sell out whatever he’s going to do relatively quickly. Right.

28:51So it’s like, why do I need this? I think bold’s mint lasts less than two minutes. Right. Like I think, I think it’s the first gas war. If, if I’m reading between the lines correctly, I think he goes on Ethereum mainnet.

29:04And I believe, I believe we see a gas war for the first time ever, uh, in, in years, bring me back to my art blocks days.

29:11Right. Um, yeah. So I think that, uh, yeah, I, I think that like, if you’re a big artist, you don’t necessarily need to be the first one on there, especially if your brand isn’t maybe experimenting, like, like technically Jack Butcher was the first one on FWA, but he’s an experimenter, right? Like when something new pops up, he’s like, boom, I’m on it. Like, this is very cool. I’m going to play this game, um, and see what happens. Right.

29:36And, and, and shout out to Jack for, for being so innovative, uh, in all of his, in all of his work. And so, yeah, I just think that, you know, maybe you’ll, you’ll need like one or two people. We’ll see how this thing goes. And then, you know, bigger artists will, as, as they, as you see the benefits of it. Right. I think in a bear market, it doesn’t necessarily matter as much because.

29:59People aren’t running out to mint something out in under one minute because you’re like, I have time because there’s a lot of, everyone’s jaded or whatever.

30:10In a bull market, I think it starts to make more sense once we start seeing gas wars and people are complaining about gas wars.

30:16Because even if you remember the other side of that, I think it burned $100 million worth of gas.

30:24Like they raised like $150 million or something and they burned $100 million.

30:29So like they taxed $100 million on the table, right?

30:33So it’s like, yeah, I just think people will like find that interesting.

30:38I think that there’ll be, like, it’s all like a learning process.

30:42And so that’s what I think is really interesting with this.

30:45I still am super bullish.

30:46I haven’t sold anything.

30:49I’m just sitting there. I’m still farming the, not farming, but I still have, like, tokens in the pool and earning yield on that.

31:00Quit, who was on last week, he, like, migrated over to the V2 of his contract and it earned 2%, which he said is, like, 80% annualized.

31:11So it earned 2% or whatever, like, a week, 10 days, something like that.

31:14And so, you know, like, when you do that across size, like, you know, 80% yield, ETH yield, especially now that ETH is up 20% over the last 24 hours, super bullish.

31:27Huge. It’s a massive, massive setup here.

31:32I’m excited.

31:34Yeah, I think I still come back to, I view it as a comparable to Polymarket I see as a new way of interacting with.

31:44It’s a asset class and it is a dynamic that we haven’t seen consumers have before.

31:53So if you’re bullish on collectibles, if you’re bullish on, you know, spinning and you’re bullish on the gacha world, I believe this is one that also you’ll probably need to wait for.

32:06Because I don’t think Adam will do it himself.

32:10And he said he won’t do it himself. But on the consumer side, somebody will build on top of this.

32:15And if that catches fire, that’s ultimately, I think, where you see this go parabolic.

32:21The fact that they’re not doing it internally is probably a little bit also of a reflection in current market cap pricing.

32:27So, okay, let’s talk about that because, like, I thought about this a lot and I have opinions.

32:33And ultimately, like, I don’t think I’m the guy to do it.

32:37But, like, I think somebody should build an app on top of FWA that is, like, a Web2 app and you can do a spin.

32:46I think the biggest issue, there’s two main issues that I see, and I’m sure, like, somebody that’s more technical than me can figure this out, is one is it’s expensive, right?

32:580.1 ETH, 200 bucks.

33:01Not, like, not everybody’s going to do 200, spend $200 on a spin.

33:05So I think there needs to be, like, a way to almost make that cheaper.

33:08I don’t know how. And then two is because it’s on mainnet, at least for the time being, it’s not, like, you can’t be, like, spin, reveal instantly, right?

33:19Like, there’s, like, a lag time depending how busy it is.

33:24Because even when MegaRip does its spins, where they’ll raise a bunch of money, you put in however much ETH you want, it does those spins and you get your share of the earnings.

33:46That will take, like, two hours to do, like, the rips, right, and do the spins.

33:50So, you know, like, during high periods of high network activity, you know, you could be waiting, you know, an hour or two for that dopamine hit, which is, like, not what you want.

34:00Like, not what you want in that reflexive loop when it comes to digital products.

34:06So I think those are the two main things that need to be figured out.

34:09Obviously, like, the onboarding and, like, the UX, which I think is kind of, like, for the most part, solved.

34:15You know, like, being, like, you know, you do a pretty wallet, you do some sort of custodial wallet, you can Apple Pay, like, you know, FOMO, PumpFun.

34:22All these guys have, like, really, like, figured this out on, like, even a more crypto-native application or a more crypto-specific application that I don’t think this should be that hard to figure out technically from that side.

34:37Like, to me, it’s more of, like, how do you figure this out from a user experience, right, from a UI perspective?

34:45That, to me, is whoever can figure that out, I think, will do a great job.

34:50Yeah, I certainly think there might be ways.

34:54Like, can you spin, like, five times at once?

34:57Or do you have to, like, do one, like, one reveal, one reveal?

35:01You can do, I think you can do up to five spins at once, at least during, let’s say, the first, like, two weeks, that was it, where you can, like, be like, hey, let’s do five spins, and then it puts it in the queue, and then, you know, for, like, it also needs to call the Chainlink VRF, right?

35:17So it calls the Chainlink VRF, you get it, and then, like, you’re waiting your spot for the reveal, right?

35:22So it’s not, like, you know, pull, you know, buy, pull, I see what I got, right?

35:29It’s, like, buy, pull, wait, I see what I got.

35:32And so then that wait time is dependent on how busy the network is.

35:39Interesting. Very interesting.

35:44Well, again, we’ll have to see how things go.

35:47They have, obviously, the larger collection launch coming up in, I think, the next week or so.

35:52Um, and, uh, it also feels like we’re going to have more just attention on NFTs in total, and that will likely put more, uh, more options on their table for what they can do.

36:09But the, the block time of Ethereum, internally at Loot, even talking about it, how it’s a, it is the Achilles heel of the network at this point, where it’s fantastic, it’s just slow.

36:20So, in, in modern standards, like, I remember back in the day, back in the, like, I’m unking myself right now, but back in 21, we were like, damn, Ethereum is so fast.

36:30Imagine using, like, Bitcoin, um, you go from using Bitcoin and, like, sending a transaction and waiting for that.

36:36Then you come to Ethereum, like, damn, it’s so fast. This is amazing. Um, I remember the first time going from Ethereum to Solana and being, oh, my God, this is, how is this, like, real?

36:45And now Robinhood is, I mean, it’s insane how fast some of these other networks are.

36:51Um, you know, it, I would expect us not to see Ethereum make any changes there.

36:59I, I don’t think they can because of the proof of stake setup.

37:02Um, but it does seem to be one of the lagging factors for a lot of people that want to do anything consumer facing.

37:09It’s just not the, the place to do it.

37:12So, um, I’m curious, I’m curious how they’ll navigate that.

37:15Yeah, no, I agree. So maybe it’s, yeah, maybe it is. It’s almost like, and listen, this is what they were, like, pushing with, like, the L1s and the L2s, right?

37:24The L2s have some sort of activity and L1 is where, like, the final, there’s final finality.

37:30And, yeah, I don’t know, I don’t know, I’m not technical enough to even think that I can try to figure this out.

37:38You know, this is, like, way above my pay grade.

37:40You know, I, I just can tell you, like, as a user, um, this is what I would like to see.

37:46Yeah, I get it. I, I understand, man. Uh, it’s, maybe, we’ll, we’ll leave it to the engineers.

37:52That’s, that’s usually what I do.

37:54Um, again, obviously, markets.

37:57Oh, wait, we, we, uh, we didn’t address this yet.

38:00So KBM, uh, had something come up last minute.

38:03So, yeah, he can’t, can’t come on today.

38:06Uh, we’re going to do a special episode with him tomorrow.

38:09Um, so, yeah, so tune in for, for everybody watching.

38:13Tune in tomorrow. We’re going to have KBM on tomorrow.

38:17Markets, uh, you know, interestingly enough, I, I don’t think, maybe we’ve been on one call together.

38:24But I don’t think we’ve ever been on a call together.

38:26But I know we have a, very, we have very similar backgrounds.

38:29So, yeah, I, I was on, I was on a call with, uh, somebody yesterday talking about him coming on the show.

38:37And we were talking about why KBM and people like yourself are from a, like, a trust perspective and a, like, integrity perspective.

38:48Like, like, if I had to give my C phrase to KBM when he, like, rugged me, I, I probably not.

38:53But he comes from, like, a world where you have to be, like, you have to be, like, top of a notch to win from where he came from, just as you did.

39:01And it’s not like, you know, these, I jokingly tweeted yesterday, it was, like, these Chrome Hearts traders who are these broccoli-haired, you know, absolute, I mean, like, they’re, they’re just, it’s, it’s a joke.

39:15Like, these guys have no idea besides, like, oh, this will have a tension, it’s a meme, let’s run it, get the Telegram chat in and bundle it and run it, like, run it up.

39:26And I, I really think that there are, there’s different, there’s different levels to it, man.

39:32You have people that are just playing with way better corporate and technical experience of being a trader and knowing markets and understanding how to digest, like, what the government’s doing, plus what, you know, yield and, and goal.

39:46And they’re going to be, like, yeah, I know how this is going to play out.

39:48And the narrative on CT might be this, but the reality is, I’ve seen this for the last two decades, this is how it’s going to go.

39:55And those are the people I want to surround myself with.

39:59Um, yeah, like, I think that, again, because he, it’s funny because like, I know sometimes when he’ll, like, he’s a trader, right? And he has that mentality. And like, I know the mentality he has where he’s like, you know, like one second, he’ll tweet like, oh, like, Bitcoin’s gonna get smashed here, right? And then maybe like an hour later, he’s like, I’m all right. And people are like trying to clown on him or whatever. It’s like, bro, that’s literally what trading is, right? You’re like, hey, this is what I think is going to happen.

40:25Um, this is, you know, like the time that everybody has a different timeframe, right? So it’s like, there’s, there’s, again, I keep on hammering. This is like, there’s multiple ways to make money in the market. And people will trade the best way that suits them. And so, you know, he, you know, shout out to him, because he’s still like, way more in the trenches than I am. I like, I like, I still obviously like to trade and put on positions, but not like, like, I don’t like monitoring it, like every second of the day, all the time. Right? Yeah. So no, I’m looking forward to having him on tomorrow. Apologies, guys, like you couldn’t join today. But now you get three shows this week. Which will be the first time we’ve done more than two shows since starting this. So I’m excited to get that going.

41:13Um, yeah, if you have any questions as well for KBM, feel free to drop them in chat right now. And we’ll make sure they get addressed live on stream tomorrow.

41:23Um, yeah, I guess, I guess the other area that I guess worth addressing here, um, has been a bit, a bit of just like what we’re seeing happen in like the launch pad space.

41:40Um, I know we talked about Anselm launching, it sounds like from the rumblings I’ve heard, uh, over the evening into this morning, there are like another three or four launch pads, uh, that are going to be coming out. And, um, I, I believe, I believe at some point here, it’s just, we’ve got too many launch pads and we’re getting pulled too many different directions. Um, Who are the, uh, who are the other launch pads that are supposed to launch?

42:07Uh, well, I guess two of them are, I don’t know. I don’t want to announce, but we have, um, there’s been bits of adjustments with stock brokers, uh, which hasn’t there like launch pad been like a disaster?

42:23Uh, I wouldn’t, like, I don’t know.

42:25No, I’m not, I wouldn’t say disaster. I don’t, I, not that I’ve seen anything that would call a disaster.

42:30I think they’re, they’re trying new things and they have had some launches, uh, with a new, uh, like safe launch that they were doing. But, um, it, it seems like the experimentation in the trenches has led to just a true, like everybody’s like, Hey, I can launch one, do a launch pad and I’ll make a bunch of money because the meta has been, okay.

42:53Whatever’s new on Robin hood, uh, or whatever is new for a launch pad perspective, there’s going to be new people running there trying to speculate. Um, Um, and so like, we’ll make money as a launch pad, we’ll make maybe a few hundred thousand, or if it takes off, we’ll make a few million. Um, I think, I think that’s slowly going to have to fade out here. Uh, and we’re probably at the end rally. So anything new, unless it’s like really special, I’m not, I’m trying not to touch. Um, but I do think it’s, it’s so interesting. I don’t know why pump hasn’t pump has been so, uh, and uni swap haven’t done something significant on like the cross chain launch pad space. Um, I mean, it boggles my mind a little bit. Um, they definitely have these internal conversations, but, um, waiting, waiting for that to happen. And obviously right now, the, in the world of on-chain consumer trading app wars, the pump fund versus FOMO war has only continued to rage on. Um, I do think you have to like, ask yourself, do you ever see FOMO do their own launch pad? That would be the significant one. Um, because it is a war, it is a war at this point. Question for you. Cause like somebody hit me up and they’re like,

44:10would you do FOMO at 750, uh, like privates? And I was like, I don’t know. Um, cause I know it’s grown like so much. So it’s like, I guess my question is that I don’t know because obviously they’ve gotten like a really, a lot of really smart money in, uh, recently. And so I just don’t know what the, what is their roadmap from here? Right. So obviously they’re crushing it with social trading. A lot of it is memes. Uh, but I also feel like in order it, in order for it to be successful long-term, I think the LTV of class, and I don’t know what their, I’m sure their CAC is really low.

44:50Uh, I’m sure their customer LTV. I don’t know if their CAC is, is low. I wouldn’t define low.

44:56Okay. So, all right. All right. Let’s say we don’t know what their CAC is, but let’s say their, uh, ROAS, their return on advertising spent, um, on ad dollars spent is, is good. Right. Cause like they’re, yeah. I mean, it’s probably, well, okay. I mean, I’ll say it. I don’t know. Yeah.

45:13But I believe it’s around like $10 right now, $10, $15, uh, for, well, that was when it was straight just on the UGC side for TikTok and IG. Um, but obviously that number has grown significantly with their, their payment. I mean, they’re paying people 10, 20, 30, 40, $50,000 a month for contents like partnerships. Right. So, I mean, I just think that like, I don’t know. And again, I don’t know any of these numbers, so I’m just like thinking about it. But then I look at these numbers of like P and again, I don’t know, like a lot of these things have been community noted.

45:50So I don’t know anything other than like what I see online. Um, the, the loss rate is like really high. So then it’s like, if you sit there and it’s like, again, like kind of what we were talking about last episode, where it’s like, you walk into the casino, right? Um, I don’t know if the casino is necessarily like the best analogy because like they make money off commissions, right? They make money off the more you trade, the more money they make. So make one trade and lose all of your money. Your LTP goes down, right? Because you only, you only made a commission once. But if I put money in and I lose all my money, but I make a hundred trades, I’m a much more valuable client, right? Customer. Right. And so I think that like this meme coin proliferation of bundling and then like people losing all their money, like very quickly on like only a couple of trades, not good for business. Right. What they want is ultimately, Hey, but this is why I think FOMO, FOMO is set up right now to, to win long-term. And again, like this is, this is coming from a competitor, right? Like me and FOMO are on the consumer side competitors. Um, I, I think they’re set up to win and they’ve kind of gotten over the hump

47:07of, yes, they’ve, they’ve proven they’ve won the crypto Twitter social graph through and through. Um, but there, I think they probably sat down in the last two, well, from the start, I think that their vision has, but they’ve, I think they’ve really had to be tested on is it, what is our true end goal? And are we still on the true end goal, which is we’re a social finance app, not a social crypto app. And that leads them down the road of trading equities, uh, which are, as you and I know, not going to rug and a far less volatile asset. They’ll obviously have perps, which allows a consumer to go there. And they’re just running a reverse playbook of where Robinhood has gone, you know, equities, options, crypto, they’re going crypto perps equities. And so they’re moving to more mature assets. And ultimately I don’t think they want to be seen. I know this, I know they do not want to be seen as a gambling app or a, a pure, uh, like YOLO speculation app.

48:13And that is what I believe has allowed them to raise at these higher levels. Obviously the seven 50 offering that you, you had, um, is them just, you know, continue to raise capital. They have more attention. The numbers are good up into the right. Keep, keep getting money in. Right. And they’re, they’re going to need a war chest. If their end target, which is not pump is Robinhood and the coin bases of the world. And to position them to be like, Hey, yeah, we’re getting bought for billions, not, you know, 500 million that they’ve, you know, uh, likely at this point, they definitely have been offered money to, to exit. Their end goal is billions. Um, and listen, look, and again, I, I, you can’t, you can’t hate, I can’t be a hater. I think they’re doing great. Um, they’re definitely weak points though in, in the company. And, uh, I’m not going to sit here and like full glaze just like to get a clip or to just, no, well, listen, I think that, uh, for, for also, I just want to say, I don’t know if they’re doing a raise or whatever. I think those might be like secondaries or, or whatever. I don’t, I don’t know. Got it. I just know like somebody asked me about it right at, at that price. And so I was like, yeah, I don’t know. But like,

49:30to your point is like, maybe they have hit escape velocity and it’s worth, you know, it’s like, uh, there was, um, at the all in summit, whatever it was, the liquidity event, uh, that was a couple of weeks ago. There was a guy, I think from benchmark maybe, or from somewhere that put up a slide of like, if your company, like, it’s just like the law of large numbers and the law of scale, right? So if you’re, if you become a unicorn, you have X percentage chance of becoming a, uh, worth a hundred billion.

49:58And if you hit a hundred billion, like your odds of hitting a trillion become higher. And if you like, you know, a trillion, then like, it’s just like, as you get bigger, your chances of hitting like the next level of escape velocity increase. And so I just like probably butchered that entire thesis, but it’s basically like, like you should be investing in like these winners as objects, objects, objects, emotion, you know, stay in motion.

50:22Stay in motion, right? Yeah. You know, so it’s just like, yeah, to their credit, like I’ve been like messing around with the app over the last week, you know, small amounts of money on there. But like, I think the thing that I do like is that it’s very intuitive. It’s very easy to use. I can post like a thesis real quick. And like, it shows up on the feed, the price of like where I bought it. So I think all that stuff is pretty cool.

50:52I will say like, I’ve been like thinking about this, because like, there’s some people that have like, massive amounts of tokens on there. And I’m like, bro, this is on your phone. You know what I mean? Like, if somebody were to see you on the street and be like, oh, that’s this guy.

51:07That guy’s walking around with, you know, traders are the new celebrities. Yeah, traders are the new celebrities. And like, he’s putting on trades from his phone. Like, that’s a pretty, like, that’s like bad ops, in my opinion. So it was just like, I don’t know, like, I don’t know if I would ever put like a significant amount of money to trade.

51:27Like, for me, like, always, like, in the past, like, I never put any amount of money, any amount of significant money on my phone. When people are like, oh, like, buy this token. I’m like, all right, cool. Like, I have to go home and log on to my computer to buy this.

51:41Like, there’s no way in hell I have any significant amount of money on my phone.

51:45But these are, these are all like, these are like, second order problems. Like, these are problems that you deal with at scale. Once you’ve hit them, you start thinking about security. And like, Bill, I’m sure any app, PumpFun as well, has probably thought about this as like, the numbers have gone up. Like, what do we need to build for like, consumer experience?

52:06But right now, for every consumer, you know, trading app, it is just how do you get as much people on with the most money, most trading, most P&L, most attention on the timeline, and at whatever cost it takes right now, because we’re about to go into a bull market. And like, the market leaders for the next 12 months will be made right now.

52:26I still think like, for me, we have traders still coming over who are like, execution on PumpFun and FOMO are terrible. And as a serious trader, I cannot use either product. And so we’re like yesterday, again, another day of number one numbers across the board. And I’m like, sick, like, we’ll continue to do this. We’ll fix our experience, because obviously, there is a product experience that people are, there’s a want there. And so we’ll improve that. And yeah, we just have the best, like we have the best tech, it’s just we need to make it look prettier. That’s it. And on the social graph side, I think that’s a solvable thing. I think I see where the industry is going there. It’s almost good to not be in the middle of the war right now, because it lets us do things that if we were, you know, in number one, two or three spot wouldn’t make sense to almost handicap ourselves. But I think there’s a convergence of people, there’s still going to be 20 apps and platforms people trade on at the end of the day, it doesn’t, it doesn’t, it’s not just going to be one. And I think that’s the important thing to realize as a consumer right now is, you don’t have to choose a side, per se. Right. Because people are like, Oh, I got to choose, you know, red or blue right now. It’s not that way.

53:45No, I like, again, I think it just comes down to like, user experience, UI, what you feel most comfortable with. Yeah, I mean, it’s interesting. Like, like I said, I think to me, one of the other reasons why I wouldn’t want to put like a significant like outside of the OPSEC. The other one is to your point is like execution, right? So it’s just like, I like I’ve seen like, you can’t set up limit orders.

54:08You can’t set up limit orders. You can’t like cross chain transactions taking, you know, 15 seconds in some cases.

54:18And like Phil’s being back, like, yeah, you see a lot of those.

54:21But listen, I like, I’m sure they’ve had a lot of feedback, especially anybody probably in the top 50 on the P&L chart probably has that feedback for them.

54:31A lot of people on the top 50 P&L card aren’t even using FOMO. They’re exporting their key and then trading elsewhere. And it’s showing up.

54:39Oh, yeah, that’s how it is.

54:41Yeah, yeah, yeah, yeah. A lot, you know, like, again, I, there’s like it, not everything’s as it seems in, in the trading wars right now. And I don’t want to like start hearing.

54:53That’s good to know. I didn’t know that. That makes sense. That makes sense. Because you get better feels on that.

54:57Yeah. Okay. So then I guess if that’s, well, well, I guess you would still have, you’d still have access to that wallet from the FOMO app.

55:05So even though like you’re, you’re, you’re trading, let’s say on your computer.

55:10Well, then there’s people that are buying elsewhere, transferring the token in to FOMO and then selling there and being like, okay, like I got my entry, my execution that really mattered.

55:20As the number goes up, I can, you know, I don’t care as much. There’s a whole bunch of different ways this is being covered now.

55:28But yeah, I think the other thing that like, I’m like, really, I don’t understand the dynamics behind it is like, how, like where, like, I have no idea.

55:41Like, like, like every time I like log in, I look at like the leaderboard. And then like, I look at where I am on the leaderboard. I’m like, like, it says like, I’m down X or I’m up Y or whatever. I’m like, since when? You know what I mean?

55:53Like, is this like what over the last 24 hours, hour since entry, like since all time, like it just, I don’t know. But maybe that plays into like the gamification of it where like, you don’t know where you’re going to be. And like, that’s why you check it.

56:06And so what do you, what do you think is going to happen with Kobe here? You know, Kobe has obviously the perp stuff and they’re, they’re obviously trying to do well on the consumer side in some way.

56:21What do you, what, what moves do you think Kobe has to make right now to win with, with base and Coinbase trading?

56:29Um, well, I think Coinbase needs a better product. Cause like I, I’ve used the product or I’ve, I’ve tried to use the product. It’s like pretty bad. Uh, and that’s, uh, as like historically Coinbase has been my on off ramp that I use. Uh, and I only like, man, I, like, I, I will say I was really pissed off one time.

56:53I went to, they like changed it. And, uh, I think I, I mentioned it before where like, I went to like wire money to my bank account. And so like in the past, like you hit like wire or whatever, and you pay the $25 fee and it says like one to three business days, but then they changed it to like, Oh, get the money instantly. And then they charged like a thousand dollars. And I didn’t see that. Cause it’s like, it wasn’t the default action.

57:18Yep. And then like, I hit it and I was like, what the fuck? I just paid a thousand dollars for a wire. Like that’s bullshit. And I was like really pissed. Um, and it just like shit like that. And I think it’s like having like really terrible customer experiences like that, just like consistently probably more so than like any other exchange. Um, I obviously, uh, Kobe being part of Coinbase is very helpful because he at least understands what’s going on.

57:48In the trenches. Like he’s like, even though maybe he’s not like active every day, he knows, he knows the narratives. He knows what’s going on, which I think could be helpful for like a large corporation like that, because they’re obviously trying to build out a business. And they obviously also, you want to cater to crypto natives to some extent, but like, there’s a lot more non-crypto natives than there are crypto natives. So.

58:10Yeah. Yeah. I, I, you know, it’s just, I, I think we’re going to see, I, I, I doubt Kobe is going to be able to do everything that he would love to do because of the nature of compliance and their public company and, and all these things. And they’re a large company, but like, I can definitely see him like doing cool stuff. But I think ultimately it comes down to it.

58:33If, if the product’s not good, then there’s no amount of marketing that could fix it. Right. Like no matter how like on, on point you are. But like I said, like the last time I, like, I remember I tried trading like Coinbase futures or, or something on Coinbase, Coinbase pro. And I’m like, this is just so confusing. And it’s like, there’s no, there wasn’t enough liquidity.

58:53Somehow simple and confusing. Yeah. It was just, it was just not, it was not a good experience. So like, like I said, like I, for me right now, the way I use Coinbase, it’s like I send crypto in, maybe I send crypto out to another wallet or I send it to my bank account.

59:11So that’s, that’s generally like the way I use Coinbase and no more than that. And so, yeah, like even it’s funny. Cause like I sent some money in and I went to wire it out like yesterday because I didn’t have like a purpose account loaded and I wanted to, to buy some crypto.

59:27And then it was like, Oh, like earn, you could earn like X amount. Like, are you sure you’re, you’re giving that up if you, if you like by sending this out. And I was like, Oh, that’s like, it was 3%.

59:40So I’m like, that’s a decent chunk of change. I’m like, I have to hold it on here for like another week. And I’m like, all right, maybe like, I thought about the idea of maybe I just trade on Coinbase and like, I make 3% or whatever, just to like experience it or just to test it out.

59:54And then I looked at like the terms and conditions and it was like.

59:58I don’t know. I think that 3% you make over like some extended period of time. And I’m like, I’m going to be really pissed. I’m like, and now Coinbase has now done this in the past where I kind of don’t trust them. I would be really pissed if they were like, oh yeah, like here’s like one twelfth of that 3% and you’re going to earn it over the next year. But if you take the money out early, you’re not going to earn like the majority, you know, it’s kind of like vesting almost. And I was just like, yeah, like I’m not going to give them the benefit of the doubt.

1:00:27I’m just going to like take the money out and move it elsewhere because I’ve had such bad experiences with it in the past.

1:00:37You know, like I, a lot of it comes down to like customer trust, you know what I mean? And it’s like, you know, it’s like if you, if you like did me dirty in the past, I’m just like not gonna trust you and give you the benefit of the doubt in the future.

1:00:49Yeah. Yeah. I, again, I asked the question cause I come back to like what were like trades and equities right now. Coinbase, there’s Robinhood.

1:00:58Am I, are you adding here going into a bull, which has probably more firepower and upside.

1:01:07I, I feel like no matter how I skin the cat, I come back to Robinhood being the better buy.

1:01:13And I think that’s reflective also in my fact that I’m saying like, I think right now if I’m buying memes, I’m buying, you know, I’m cash cat is, is something I’m adding into.

1:01:22Ponds is something I’m adding into and anything else that, that is a related or a meme on Robinhood where these listings, et cetera.

1:01:34Even though, even though cash cat has really pulled back, I just think you’ll see them lean into the marketing exposure back to their, their general consumer base going up.

1:01:44And it’s clearly, clearly they’re probably top priority, um, on new markets alongside with 24 seven stock trading and additionally with their AI, uh, trading stuff, which I think they’ll probably have that set up in a way where it’s like 1% of everybody’s portfolio is put into like high risk, like meme stuff on like Robinhood.

1:02:06That could be interesting to see that happen. Um, but yeah, we’ll walk the, keep an eye on how both of those play out, uh, over the coming, coming weeks and months.

1:02:18And obviously I’m expecting a big Q3 from both.

1:02:22Yeah. I mean, again, I, you know, there’s a lot of euphoria going on in the markets, um, after yesterday’s move.

1:02:31And I think now next steps is like, all right, what happens here? And like that I’m saying this, Bitcoin’s looks like it’s at the highs of the day.

1:02:38Yeah. Bitcoin just like made a new eye since we’ve been on, um, yeah. In the last like 10, 15 minutes. So, you know, this is, this is bullish. These, these pullbacks are, are very small. Um, I bought, I bought a little BNB, uh, like earlier this morning. Um, I don’t know. I just kind of like, I feel like CZ is going to do.

1:03:04Oh, dude, he’s going to do something. You know, he was seething last night. You know, he was, he was going to CZ is going to CZ. So I’m just kind of like, yeah, I mean, I’m like, you know, I think I’m, why is this at market cap?

1:03:19I’m long from like, like right around here, like 645 ish, 646. Um, I don’t know how to take, how to switch this back to, uh, here we go. Speaking of Coinbase. Yeah. I’m long from like right around here.

1:03:36Uh, so I don’t know. I think this could, this could, this could run if crypto keeps on running, you know, see CZ is obviously the best in the biz when it comes to, you know, I think, I think they poked the bear last night with this hyper liquid stuff. I really do. I think they poked the bear and, uh, you know, it’s like the Michael Jordan meme. He’s like, I took that personally. Uh, and you’ll probably see some CZ on chain crime in the near future.

1:04:07Uh, yeah, no, I, I, look, we’ve also seen BNB, uh, memes pick up significantly. Um, and there is for sure an Asian meme coin party going on. Uh, we’re seeing more and more stuff get launched more, more and more stuff, make all time highs. Um, and a lot of inflows as well from Solana to BNB, uh, that’s upticked over the last, uh, week for sure. Um, Yeah. I like the trade. I like the trade here. It’s, but again, like I, I, I think on, on these types, like this dude, it’s just like where you have to be like trying to buy the pullbacks, you know, you want to like, again, like just like these pullbacks are like almost non-existent. Right. So it’s like, you know, but you also have to be ready for like some sort of like macro event.

1:05:00Um, you know, like some sort of liquidity, uh, type freeze event that would hit all risk assets. But as we know, the, the hardest risk assets rally the strongest off, off those lows, off those reaction lows.

1:05:14But like, there could be like some sort of like reaction pullback on something. So, but yeah, I mean, I, I just think like, again, there’s still strength. There was strength all day yesterday. I think, I don’t know who I saw.

1:05:31Somebody tweeted at Sergio Sergito. Um, you know, he used to work at Barclays and it was a valid point. He’s like, you know, uh, a lot of people, a lot of the big macro guys, you know, we were, I was saying this last week is like, are done for the summer.

1:05:44You know, everybody’s got taking like, they’re too weaker now until, uh, probably Labor Day. And so when they come back, they’re going to be, oh, wow, the world’s different. The world’s changed. Like, what are we, like, where are we putting, how are we putting risk on?

1:05:58Right. From a risk perspective, I, one of the names that got brought up yesterday, and I also saw in his absolutely terrible ads that he’s been putting out, um, sailor must be very happy seeing Bitcoin go up.

1:06:13Um, what, what’s your take on what’s going on under strategy and, and the products that they’re offering? Do you have a take there?

1:06:22Not really. Um, I think that like, I, I’ve never personally been a, uh, I, I’ve never been good at trading like the cap table and understanding like preferreds and, um, you know, different corporate, uh, class structures of the shares and, and stuff like that.

1:06:43But, um, obviously Bitcoin going up is good for them, uh, especially them like selling the bottom and.

1:06:52Yeah. Yeah. I mean, the best ever deal when it comes to selling the bottom, right.

1:06:56You know, maybe, maybe it’s over.

1:06:59Right. And so now macro is going to kind of build them out and then sailor is going to be back on top again, you know, like, uh, you know, he sold some, but now like the selling has abated.

1:07:10Um, you know, I don’t know.

1:07:14I, I, like, I, I haven’t been paying that much attention other than, you know, he’s been marked as a big possible seller.

1:07:21And, you know, the fact that we weren’t going lower, now we have an upside catalyst that’s setting us higher.

1:07:28Um, even if like, even if let’s say sailor were to sell today, like it would get, like it would get gobbled up.

1:07:34And at this point, I don’t think anybody would even care of sailor selling because they’re like, oh, well, the debasement trade is on.

1:07:40Um, so like, thank you for your sales, you know, sailor.

1:07:45Yeah. It’s so interesting how that flips dynamically where, you know, it’s all, dude, it’s all psychology, right.

1:07:53It’s all psychology. It’s like how you, you know, perceive, you can take like any news headline and for the most part and like play both sides of it.

1:08:02I think we see this a lot now happen on social media with, um, political issues where, um, you know, depending on what your political leaning is, you can, you can take, you know, any headline and see it as either very good or very bad.

1:08:17And it’s like the same headline. It’s like, wow, that’s, that’s pretty crazy that.

1:08:21And it’s the same type of thing with markets, right.

1:08:24Where all of a sudden all news is good news turns into all news is bad news.

1:08:30Um, even if it’s good news.

1:08:32Right. And like we saw that, I think play out with AI where there was a bunch of still good news coming out in July, but guess what?

1:08:38Leopold’s blowing up. So all news is being sold, which gets more selling, which, you know, I think we always find in markets that, uh, price leads narrative.

1:08:48Right. So the more something goes up, uh, the more, you know, invisible, invincible they are.

1:08:55And the more something goes down, um, the more, what’s the opposite of invincible, but you know, like bad news, but it gets more bad news.

1:09:04Yeah. Makes sense. Or bad sentiment, but it gets more bad sentiment.

1:09:07Makes sense.

1:09:09We’ve got a lot, a lot going on.

1:09:12Uh, obviously markets are going higher here for the majors.

1:09:17Um, it’s a good for the trenches.

1:09:19We’re going to see a lot more trading. Uh, every group shot right now is rejoicing.

1:09:24Anything else you want to go over, uh, today, uh, as far as assets, news topics?

1:09:30No, I think that’s, I think that’s kind of it.

1:09:34Like, I feel like we covered for me, like the main thing has been the macro.

1:09:37Yep. Um, and everything happened there and obviously that’s driving like all sentiment on all risk assets.

1:09:44So. Yeah. Well, we’ll be back tomorrow.

1:09:49We’ll be back tomorrow. Our special guest KBM.

1:09:52Uh, we’ll be talking again, anything market related.

1:09:54We’re going to be talking, uh, on traders versus the new class of traders that we have.

1:10:00The broccoli-haired Chrome Hearts traders. We’ll be talking Yeet, his casino, Uniswap, casino company that they have.

1:10:08And we’ll most likely also be talking about his hottest takes on what he sees going on in the current meta, which I’m sure it’s going to be one of my favorite guests.

1:10:20I don’t think I’ve had him on any of my shows. It should be a good conversation. I’m excited for it.

1:10:28But guys, thanks again for tuning in. We will be back tomorrow, 10.30 a.m. here on X and YouTube and everywhere else you can watch us and look forward to seeing you then. We’ll catch you though. Peace.