Trump Pumps Crypto While Stock Market at All Time High

0:51What is up, everybody? Welcome back. Another great day, a blockbuster day yesterday.

0:57So it’s going to be a very high energy, high spirit show.

1:02G, 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.

1:12Two, I got my Seagalman Stables New York Knicks champions hat in the mail yesterday, even though there’s no Knicks logo on it, but this is the Knicks colorway. So I’m rocking that today to support the king, Jalen Brunson.

1:30And yeah, but obviously, spirits are great. It’s funny yesterday. Man, I remember I saw the the move was delayed. You had so much time to buy Bitcoin.

1:46Yeah, you had you had a solid five minutes, 10 minutes. No, I think more. I think more.

1:54I do like I remember, man, I remember I saw the news. I saw the news. And then I think the news came out. The market was up. I think the news came out around 830. I was looking at the market around like nine, nine 30 around that. And gold was flying. And I looked at like crypto and I’m like, man, I should just like load the boat here, like 510x leverage. And I was like, oh, let me like take this phone call. And I think it was at like 1920. Yeah, it was 1920. I jumped in a meeting and the guy joined the meeting. It was like, damn, that’s crazy. And I was like, what? He’s like, oh, the news. And I was like, what I miss. Yeah. And so yeah, 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.

2:43I was like, yeah, I think he looks pretty good. You know, more it looked better than Bitcoin. And so yeah, I didn’t buy any. And I missed it. And then I just like kind of waiting for a pullback or retracement. And I didn’t get anything. And so I think I’m in a full mo 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 the move did happen, there’s a pullback.

3:14If there’s a pullback, like I’m going to be I’m going to be buying more. I 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 tenure. Right. So this gets announced yesterday. The tenure goes rates go down. We retrace the entire amount. Can you explain this to me? I saw your tweet. You said we’re going to need a bigger boat. Yeah, on this. Can you explain that to me? I didn’t, I didn’t fully understand what’s going on. And, you know, yeah, I’ll be transparently stupid on stream. So 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. Right. And so that means they’re printing money. Right. And 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, 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. They don’t like originally like the the bailout for 2008 was called tarp.

4:51And then there was like, and then operation twist. And then like, they always call it something different. And 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 ease. Right. Yeah.

5:08And 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 starting I think it’s September 9 or something that they’re going to double the amount of I think 10 years that belong into the curve either 10 year or the 30 year of that what they’re going to be buying to keep rates lower. So then the market reacts, you know, with lower rates, right rates go down, because like, oh, there’s intervention. And the hell, 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. And so, you know, the the market sniffing that out, I think if you look at the price of, you know, this, I brought it up 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 we 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. This was obviously yesterday, because the mark, the markets are going to test going to test best since will,

6:43right. 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 with the Treasury Secretary, 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, or he’s a smart market participant. And so, yeah, I mean, I just think this is very interesting. The fact that we have now retraced the entire move yesterday, means that the markets calling their bluff, which means they’re probably gonna have to raise the amount that they buy, which is even like more easing, which is even better for, you know, the price of hard assets, right? First gold, then you know, anything that you can’t easily make more of, right? Bitcoin, Ethereum, right, cryptocurrencies are like kind of designed for this, right?

7:47That’s why 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. Yeah, I mean, that’s nice. And shout out to dude, shout out to Ansem. Fucking called it. He called it like here, market bottomed, you know, 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 bottoms in, but that doesn’t mean we can’t have a does not mean we don’t go back to the mid 60s. Right? Like, right. It doesn’t mean we can’t have like a huge pullback, right? Because there is market turmoil, like underneath, in the sense that like, the bond market is reacting and revolting kind of to, to these actions. So this is like very similar, you know, obviously, it’s different, like, in the 80s, was it the 80s or the 70s?

8:49When Soros and listen, Bessin was part of that team. So he knows firsthand how this works.

8:55When they broke the Bank of England, basically, the Bank of England was trying to support this peg, kind of like the same way, right? Like, like FX buying, buying it in FX markets, or yeah, supporting, supporting the pound and FX markets, interest rates, stuff, all this stuff, all the tools that they have 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 US government is the US government. And, you know, maybe for because listen, I’ve, this entire thing, like this endgame 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 on in my career. I mean, I still am, I believe in like hard assets, which is why I can’t say 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 this all things that are true, but gold necessarily hasn’t gone up as much as you think it should have gone up. 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. But like,

10:11I 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 US government, they have a lot of tricks up their sleeve, cards up their sleeve that they can pull out. And so you’ve used like, pre pre cushioning for because, you know, like, not not on the conspiracy side, but like, I’ve just we’ve seen Trump operating away 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. And so we’ll get ahead of it. And then we can always just pump the market again. But 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, right? And they have like, if you were thinking of it is like a poker game, they have the largest stack. And let’s say they know pretty much what everybody’s cards are, right? Or let they they know what one of their cards are, right? 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, Japan. You know, yeah, poker games are great analogy, actually, I’ve never thought of it in that way. Yeah, well, I think like, you know, listen, I know, I was actually listening to a rasmer clip this morning, where he was talking about how the trenches are a poker game. It’s like a, like, it’s a bet, right? It’s a casino. It’s, it’s a way to gamble. You’re just trying to put the odds in your favor, right? Like, when you put on a setup, or a trade, you’re trying to do it when you think you have like the best odds of, right? So it’s like, if you put on and we talked about this in the past, right?

12:09If you put on like a like, I usually tier my trades as ABC. And so like, a C tier is like x, a B tier is, you know, two x and an A tier is like six x, right? 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. So, you know, I think that it’s interesting times, like 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, global coordinated intervention, because what ended up happening with the yen and the Bank of Japan was that Europe was kept in the dark. And if there is some sort of liquidity coordination that is required at some point in the not too distant future. We 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, right? So, you know, we don’t know if they’re gonna be like, Oh, well, f you guys, because like we’ve decoupled a lot from the US. So, you know, we’re not right, because like two, three years ago, if the US fails, then Europe fails, and Japan, like it’s all like, we were all like on the same boat, and we’re going down together. And now it’s like, everybody’s like kind of going out in

13:36their own life rafts. And they’re like, all right, well, if you sing, and we’re okay, then that’s fine. Because maybe like, we want you to sing. You know, so it’s like very, I think it’s very different. And I think that’s going to be the interesting thing of how we play how this entire thing plays out. Um, but yeah, I mean, I listen like the yield curve, the first sniff of yield curve control is here. And it’s obviously bullish hard assets.

14:07Yeah, that I’m, I’m paying attention more than I have previously in those markets into this news.

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

14:21I’ve been accumulating the hell out of Robinhood Chain tokens, Cashcat, as you can see, coming across the bottom of the screen right now, up 35% in the last 24 hours. You know, it was good and very bullish to see Vlad up there with Trump and talking to Trump yesterday, the tweet yesterday, just two words, Robinhood Chain. It’s clear that Robinhood wants to absorb as much of the volume from Solana right now. It’s clear that they’re willing to list tokens on their app into their customers. And 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. And you know, the rumors of Coinbase launching perps, as I think we’ve alluded to on shows, that is that that’s been confirmed, the rumors of you know, Polymarket bringing perps live that that basically is confirmed here. And we’re seeing even lighter up another 17%. I said this is a fantastic trade because of their positioning with the CTFC and everything that’s happening. 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. And I believe

15:54Robinhood is probably the one place that will get the green light on things that everybody has assumed are not going to happen. And I think a lot of that has to do around listings. So maybe maybe this is also bullish for Coinbase. In that regard, obviously, they’re up significantly on the day as well. But I just think as a retail focused side, Robinhood is a much bigger company, has a much bigger active social trading base as well. And you’re going to see them probably put more marketing into what they’re doing. And you’ll see more customers probably start to touch these assets and have more upside. But yeah, not to take us off the hard asset conversation in gold. Yeah, no, I mean, listen, I mean, they that was I think the other really bullish news, is Trump came out and talked about Hyperliquid. I think my favorite part of that entire thing was that one guy that was like smirking the entire time. Let me like try to get that thing.

16:56But it’s like the memes around him were so good. Like when you 20X long right before the announcement, like stuff like that, it was like, so good. A lot of wallet sniffers out there trying to find the trade. I mean, that guy has a bag of something. Yeah, most likely.

17:17Unreal. I’m trying to bring it up. Sorry. My laptop is like fried. I got to get a new one pretty soon. But what else? I feel like on chain, obviously, like, you know, it’s great when the majors push, then on chain usually follows. So, you know, like, I don’t know, I it feels good. But like, at the same time, I’m like looking at my watchlist here.

17:40And unlike the AI trade, the AI trades had a pullback, right? Nebbius actually did their their offering this morning was a preferred. So it’s down on that. Yeah, we expected this you predicted 1% pullback. What what is the actual pullback here?

17:59No, I didn’t say a 1% pullback. Did I? Yeah, you said it’d probably be like 1% but it would get gobbled. I 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 one of the Clippers who’s watching this run the clip. The let’s see, I’m trying to here we go.

18:24It pulled back obviously way more than 1%. The be my computer so slow. All right, where is it? So it’s pulled back to 217 from the high of like 280.

18:42You know, it’s like holding support. So it was announced yesterday, right weakness on there.

18:46It was a preferred deal instead of like an equity in all equity deals. So I’m going to be less diluted than just them issuing stock. I saw online that a couple people were saying how this could possibly be the lead to some sort of deal announcement. Right. So 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. But yeah, I mean, I still really like it. Right. Like here’s it’s still kind of like holding that gap. This is the earnings gap from about a week ago. Is that a week ago? Well, where everything else is getting hit as well. Yeah. I mean, it’s just, I think like when I look at this, like there’s these are most of these are commodities are at the top of the top of the list here. And then a lot of these are, you know, SpaceX, SpaceX.

19:44I mean, let’s see where would it probably maybe like around the one low one twenties maybe, or like where it works. Yeah, where maybe like starts to like, I’ll just keep an eye on it, even though I would say like, I would love it if it got down to like maybe 120 and I buy some there. But if I see the bottom and maybe whatever, like 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.

20:14So 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 rock bot is really good. And I’ve been like, since rock bot came out, and I started using it, like I’m not in the command line interface, like at all.

20:35I 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 desktop or mobile UI for most AI applications, especially 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 XYZ for me.

21:07Yeah. So like, I guess as somebody that has used the CLI a lot, I just think that like, if like grok bot is just like, so it’s just very easy. And that’s like what I have liked about it. So I think it’s very easy. That means like, probably more like less technical people think it’s very easy, which is even better because like, even like with the, I have found for myself, even like me using like Claude code or codecs in their apps, it’s like, still a little technical, like 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. And 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. But like, I think what grok bot does really well is just kind of like, you know, what like, I have like 15 different subjects that are open. And you know, when I want to work on or talk about a certain subject, I just go to that agent and talk about it. So, so that’s kind of really what like has turned me more bullish on SpaceX. And so that’s kind of why I’m like, all right, like, maybe there’s a thing out. Maybe we go back to those who knows, right. But like, I also like, again, like this is what 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. But like, I just think that yeah, I think the question is whether you believe the AI trade is over or not. And so I obviously, I still believe that it’s not over. And, and for those reasons, I’m, I still want to be very long AI. Right. I sent you over a unlock schedule for SpaceX on Telegram just now.

23:05Okay. If you want to pull that over. I was sent this by a series C investor who, well, after putting money in was diluted to a number that he, he missed out a ton of money because he got diluted because I don’t know how many series they did. But if you scroll down, there’s a chart of the unlocks that are coming. We just hit the first, I think next tranche that just hit. But you can see where the how the float kind of happens over the next year.

23:42And what we have coming, obviously, the Musk unlock in July of 27 is the big one. Right.

23:48Right. But basically, the whole point was him being a mean coin trader at heart.

23:56As float goes up, we usually see a lot of these tokens start to go down. And as you can see, we’re now starting to see more float come in over the next three months as we get into 2027, with I think the first of the year being the bigger unlock that we will have.

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

24:31But you could. Yeah, like the reason why like we went up was because like nobody got their shares.

24:36And so like nobody could sell because I guess, apparently, behind the scenes, like especially to like a lot of the people that were doing the SPV and stuff, like, like, 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.

25:00And you know, everyone’s like, you know, got to praise King Elon. So that’s kind of, 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. And so because of that, by the time you get your shares, you’re like, you’re like, Oh, yeah, everyone’s expecting the cell pressure, it didn’t come. You know, 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, something like, yeah, like, like these, some, some of these SPVs are just like, the site, like they’re holding the shares and I’ve been distributing it, right? Depending on, I think, like the terms of the SPV and stuff like that. So, you know, they’re just like sitting there on liquid chairs being like, yeah, well, we think it’s going higher. So we’re like not going to distribute them to you. Right? So yeah, it’s very interesting. This is this is why you should really, the SPV side, you can get screwed so many different ways on them. And obviously, you know, we know this and not your keys, not your not your tokens. SPVs are very, very similar to this, like, until until

26:05the equity or until the shares are in your control, you got to shit out of lock.

26:12And yeah, I don’t know, I don’t know if it was SpaceX specifically, another, another company 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. And I think the company is doing well, they just never got access. And by the time they did, things were significantly lower.

26:36Yeah, we’ll have to see. We’ll keep SpaceX on the radar here. Obviously, again, if you haven’t tried Grokbot, it sounds like we’re getting a pretty strong endorsement from G here. So definitely check that out. I’m looking down, I see FWA coming across the bottom here down to $20 million market cap, they did announce their first fair launch using FWA, which I found interesting. It’s a cool looking collection, it comes with some perks to get early access to exclusive features, as well as I think a few other things, but was not like a blockbuster, you know, meant that everybody was gonna, I think, sprint to and tried to get. I love that they’re playing into the save Ethereum, you know, marketing campaign here, you just would love to get your take on, you know, now that we see that pullback on the price there, you’ve been a huge advocate for it. What do you think’s next? What’s your take on the price action?

27:41Yeah, so 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 gonna 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 expectations. Correct. I think the artwork on those things are really cool. Yeah, they’re cool. If I yeah, like if I wanted to buy one, like I would definitely be spinning. I think we’ll see like how much that leads to an increase in spins. And then also with the save Ethereum one. And 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, just thinking 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 hold this? I think bold mint last less than two minutes. Right. Like, I think, and so I think it’s a first gas war. If I’m reading between the lines correctly, I think he goes on Ethereum mainnet. And I believe, I believe we see a gas war for the first time ever, in in years, bring me back to my art box days. Right. Yeah, so I think that yeah, 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.

29:32Like, this is very cool. I’m gonna play this game and see what happens. Right. And, and shout out to Jack for for being so innovative, in all of his in all of his work. And so yeah, I just think that, you know, maybe you’ll need like one or two people will see how this thing goes. And then, you know, bigger artists will, as they as you see the benefits of it, right, I think in a bear market, it doesn’t necessarily matter as much because like, people aren’t like running out to, to buy like to mint something out in like under one minute, because you’re like, I have time because there’s a lot of everyone’s jaded or whatever. In a bull market, I think it starts to make more sense once we start seeing gas wars, and people are complaining about gas wars, because like, even if you remember the other side of that, right, like, I think it burned like $100 million worth of gas, like they raised like 150 million or something and they burned 100 million. So like, they took $100 million on the table. Right. So it’s like, yeah, I just think people will like find that interesting. I think that there’ll be like, it’s all like a learning process. And so that’s what I think is really interesting with this. I still am super bullish. I haven’t sold anything.

30:49I’m just sitting there. I’m still farming the not farming, but I still have like tokens in, in the, in the pool, and earning yield on that quit, 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. So it earned 2% or whatever, like a week, 10 days, something like that.

31:15And so, you know, like when you do that across, across size, like, you know, 80% yield, ETH yield, especially now that ETH is up about 20% over the last 24 hours, super bullish.

31:27Huge. It’s a massive, massive setup here. I’m excited. Yeah. Yeah, I think I still come back to, I view it as a comparable to Polymarket. I see as a new way of interacting with a asset class.

31:48And it is a dynamic that we haven’t seen consumers have before. So if you’re bullish on collectibles, you’re bullish on, you know, spinning and you’re bullish on the, the gacha world, I believe this is one that also you’ll probably need to wait for, because 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. And if that catches fire, that that’s ultimately, I think where you see this go parabolic. The fact that they’re not doing internally is probably a little bit also of a reflection incurred market cap pricing, but, um, so, okay, let’s, let’s talk about that.

32:30Cause like, I thought about this a lot and I have opinions and ultimately like, I don’t think I’m, I’m the guy to do it, but like, I think somebody should build an app on top of the FWA that is like a web two app and you can do a spin. I think the biggest issue I there, 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, um, it’s expensive, right? 0.1 ETH, 200 bucks.

33:01Not like not everybody’s going to do 200, spend $200 on a spin. Uh, so I think there needs to be like a way to almost make that cheaper. I don’t know how. And then two is because it’s on main net, at least for the time being, it’s not like you can’t be like spin reveal instantly, right? Like there’s like a lag time, depending how busy it is. Cause even when mega rip does, it’s, does it’s, uh, it’s, it’s, uh, it spins where they’ll raise a bunch of money.

33:33You put in however much ETH you want. It does, it does those spins and you get your, your, um, your, your, your, your share of the earnings. Um, that will take like two hours to do like the rips, right? And do the spins. So, 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. Like that, not within that reflexive loop, uh, when it comes to, uh, digital products. So I think those are the two main things that need to be figured out. Obviously like the onboarding and like the UX, which I think is kind of like for the most part solved, um, you know, like a being like, you know, you, you do a pretty wallet, you do some sort of custodial wallet, you can Apple pay like, you know, FOMO, pump on all these guys have like really like figured this out on like even a more crypto native, uh, application or more cryptos, a more crypto specific application that I don’t think this should be that hard to figure out technically from that side. To me, it’s more of like, how do you figure this out from a, uh, you, user experience, right? From a UI perspective, that to me is whoever can figure that out. I think we’ll

34:48do a great job. Yeah. I, I, I certainly think there might be wait, like, can you spin like five times at once or do you have to like do one, two, like one, so you can, one review, you 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 chain, like a VRF, right? So it calls the chain, like VRF, you get it. And then like, you’re waiting your spot for the reveal, right? So it’s not like, you know, pull, you know, by pull, I see what I got, right? It’s like by pull, wait, I see what I got. And so then that wait time is dependent on, um, how, how busy the network is. Interesting. Very interesting. Um, well, again, we’ll have to see how things go. They have the obviously the larger collection launch coming up in I think the next week or so. And 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. But the, the block time of Ethereum internally at Lute, even talking about it, how it’s a,

36:14it is the Achilles heel of the network at this point, where it’s fantastic. It’s just slow.

36:20And 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. Imagine using like Bitcoin, um, you go from using Bitcoin and like sending a transaction and waiting for that. Then you come to Ethereum, like, damn, it’s so fast. This is amazing. Um, I remember first time going from Ethereum to Solana, because of the proof of stake setup. Um, but it does seem to be one of the lagging factors for a lot of people that want to do anything consumer facing. It’s just not the, the place to do it. So, 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 L ones and the L twos, right? The L twos have some sort of activity in L one is where like the final, there’s final finality. And 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. You know, there’s like way above my pay grade.

37:40No, 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 understand, man. Uh, it’s maybe we’ll leave it to the engineers. That’s, that’s usually what I do. Um, yeah. Again, obviously, markets. Oh, wait, we, we, uh, we didn’t address this yet. So KBM, uh, had some, oh my God. So yeah, he can’t, can’t come on today. Uh, we’re going to do a special episode with him tomorrow. Um, so yeah, so tune in for, for everybody watching tune in tomorrow. We’re going to have KBM on tomorrow markets. Uh, you know, interestingly enough, I, I don’t think maybe we’ve been on one call together, but I don’t think we’ve ever been on a call together, but I know we have a, there, we have very similar backgrounds. So yeah, I was on, I was on a call with, uh, somebody yesterday talking about him coming on the show and we were talking about why KBM and people like yourself are from a, like a trust perspective and a like integrity perspective. Like, like if I had to give my C phrase to KBM, when he like, ruggedly, I probably not, but he comes from like a world where you have to be like, you have to be like top of an notch to win from where he came from, just as you did. And 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,

39:13I mean, like they’re, they’re just, it’s a joke. Like these guys have no idea besides like, oh, this, I have attention. It’s a meme. Let’s run it and get the telegram chat in and bundle it and run it, like run it up. Um, and I, I really think that there are, there’s different, there’s different levels to it, man. You 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 gold and everything. And they can be like, I know how this is going to play out. And 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. And those are the people I want to surround myself with. Um, yeah. Like I think that again, cause he, it’s funny because like I know sometimes when he’ll like, he’s a trader, right? And he has that mentality and look, I know the mentality he has where he’s like, you know, like one second he’ll tweet like, Oh, like Bitcoin’s going to get smashed here. Right. And then maybe like an hour later he’s like on long, right? And people are like trying to clown on him or whatever.

40:21It’s like, bro, that’s literally what trading is. Right. You’re like, Hey, this is what I think is going to happen. Um, this is, you know, like the time that everybody has a different time frame.

40:29Right. 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. Uh, and people will trade the best way that suits them. And so, you know, he, you know, shout out to him cause 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, I don’t like monitoring it like every second of the day all the time.

40:57Right. Yeah. So nope. I’m looking forward to having him on tomorrow. Um, apologies guys, like you couldn’t join today, but now you get three shows this week. Uh, which will be the first time we’ve done more than two shows since starting this. So I’m excited to get, uh, that going. Um, yeah, if you have any questions as well for KBM, feel free to drop them in chat right now. Um, and we’ll make sure they get addressed live on stream tomorrow. Um, 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. Um, I know we talked about Anselm launching. It sounds like from the rumblings I’ve heard, uh, over the evening into this morning, they’re like another three or four launch pads, uh, that are going to be coming out.

41:52And, um, I, I believe, I believe at some point here, it just 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? Uh, 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.

42:18Well, hasn’t there like launch pad been like a disaster? Uh, I wouldn’t, like, I don’t know. No, 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 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, I want to do a launch pad and I’ll make a bunch of money because the meta has been, okay, whatever is new on Robinhood, or whatever is new for a launch pad perspective, there’s going to be new people running there trying to speculate. 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. Um, 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 has it pump has been so, uh, and uni swap haven’t done something significant unlike the cross chain launch pad space. Um, I mean, it boggles my mind a little bit. I’m, 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.

43:56Um, I do think you have to like ask yourself, do you ever see FOMO do their own launch pad?

44:02That would be the significant one. Um, because it is a war at this point.

44:07Question for you. Cause like somebody hit me up and they’re like, would you do so FOMO at 750?

44:13Uh, like private’s 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, and 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.

44:37A 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, and I don’t know what they’re, I’m sure their CAC is really low. Uh, I’m sure their customer LTV. I don’t know if their CAC is, is low.

44:54I wouldn’t define low. Okay. So, all right. All right. Let’s say we don’t know what their CAC is, but let’s say their ROAS, their return on advertising spent, um, on ad dollars spent is, is good. Right. Cause like, yeah, I mean, it’s probably, well, okay. I mean, I’ll say it. I don’t know. But I believe it’s around like $10 right now. $10, $15 for that. 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 content stuff, 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. So I don’t know anything other than like what I see online.

45:54Um, the, the loss rate is like really high. So then it’s like, if you sit there and it’s 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.

46:19Your LTV 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 100 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 trades.

46:45Not good for business, right? What they want is ultimately, hey, like, But this is why I think FOMO was set up right now to win long term. And again, like this is coming from a competitor, right? Like me and FOMO are on the consumer side competitors.

47:03I think they’re set up to win and they’ve kind of gotten over the hump of yes, they’ve proven they’ve won the crypto Twitter social graph through and through.

47:13But they’re, I think they probably sat down in the last two, well, from the start, I think that their vision has, but they 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.

47:33And that leads them down the road of trading equities, which are, as you and I know, not going to rogue and a far less volatile asset. They’ll obviously have perps, which allows the consumer to go there.

47:46And 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.

48:00And ultimately, I don’t think they want to be seen. Why know this, I know they do not want to be seen as a gambling app, or a pure like YOLO speculation app.

48:13And that is what I believe has allowed them to raise at these higher levels, obviously, the 750 offering that you had is them just, you know, continue to raise capital, they have more attention, the numbers are good up until the right.

48:28And they’re going to need a war chest if their end target, which is not pump, is Robinhood and the coin basis of the world.

48:37And so position them to be like, hey, yeah, we’re getting bought for billions, not, you know, 500 million that they’ve, you know, likely at this point, they definitely have been offered money to exit their end goal is billions.

48:51And listen, look.

48:54And again, I, you can’t, you can’t hate, I can’t be a hater. I think they’re doing great.

49:01They’re definitely weak points, though, in the company. And I’m not going to sit here in like full glaze just like to get a clip or just to know.

49:12No, well, listen, I think that for also, I just want to say, I don’t know if they’re doing a raise or whatever.

49:18I think those might be like secondaries or whatever. I don’t I don’t know.

49:22Got it. Got it. Got it. Got it. That’s going on there. I just know like somebody asked me about it right at that price.

49:28And so I was like, yeah, I don’t know. But to your point, it’s like maybe they have escaped philosophy in its words.

49:33You know, it’s like there is at the all in summit, whatever it was, the liquidity event, 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 worth a hundred billion. And if you hit a hundred billion, like your odds of hitting a trillion become higher. And if you like, you know, a trillion than two, like, it 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, emotion, you know, same motion, emotion. Yeah. Yeah. So it 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.

50:34But like, I think the thing that I do like is that it’s very intuitive. It’s very easy to use.

50:40I 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. I 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. That guy’s walking around with, you know, celebrities.

51:11Yeah. It’s a scan away. And like he’s putting on trades from his phone. Like that’s a pretty like, that’s like bad apps, ups, like 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. Like for me, like always, like in the past, like, it’s a hot, well, yeah, I never put, 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 onto my computer to buy this. Like there’s no way in hell I have any significant amount of money on my phone. But these are, these are all like, these are like second order problems.

51:50Like these are problems that you deal with at scale. Once you’ve hit them, you start thinking about security and like, they’ll, I’m sure any app pump fun as well, has probably thought about this as like the numbers have gone up. Like what, what do we need to build for like consumer experience? But 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.

52:21And like the market leaders on the next 12 months will be made right now. I still think like, for me, we have traders still coming over who are like execution on PumpFun and FOMO are terrible.

52:35And as a serious trader, I cannot use either product. And so we’re like yesterday, again, I’m another 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 graphs side, I think that’s a solvable thing. I think I see where the industry is going there.

53:08It’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.

53:31And 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. No, 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.

53:55Like, 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 opposite. 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, you can’t like, cross chain transactions taking, you know, 15 seconds in some cases. And like Phil’s being bad, like, yeah, you see a lot of this. And 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. A lot of people on my top 50 P&L card aren’t even using FOMO, they’re exporting their key and then trading elsewhere and it’s showing up. Oh, that’s how it is? Yeah, yeah, yeah. A lot, you know, like, again, there’s like, not everything’s as it seems in the trading wars right now. And I don’t want to like start hearing. That’s good to know. I didn’t know that. That makes sense. That makes sense. Because you get better fills on that. Yeah. Okay. So then I guess if that’s well, well, I guess you would still have, you still have access to that wallet from the FOMO app. So even though like your trading, let’s say on your computer. Well, then there’s people that are buying

55:11elsewhere, transferring the token in to FOMO and then selling there and being like, okay, like I got my entry, my execution that really matter as a 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 the dynamics behind it is like, how like where, like, I have no idea. 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.

55:47I’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? Like, 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 obviously trying to do well on the consumer side in some way. What do you what what moves do you think Kobe has to make right now to win with with base and Coinbase trading? Well, I think Coinbase needs a better product. Because like, I’ve used the product, or I’ve tried to use the product. It’s like, it’s pretty bad. And that’s, as like, historically, Coinbase has been my on off ramp that I use. And I only like, man, like, I will say I was really pissed off. One time I went to they like changed it. And I think I mentioned it before, where like, I went to like wire money to my bank account.

57:01And 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 charge like $1,000. And I didn’t see that because it like wasn’t the default action. And like I hit it. And I was like, what the fuck, I just paid $1,000 for a wire. Like, that’s bullshit. And I was like, really pissed. 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. Obviously, Kobe being part of Coinbase is very helpful because he at least understands what’s going on in the trenches. Like he’s like still 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.

58:01And 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 yeah, I you know, it’s just I think we’re gonna see 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 all these things in their large company. But like, I can definitely see him like, doing cool stuff. But I think ultimately comes down to if, if the product’s not good, then there’s no amount of marketing that could fix it. Right. Like matter how like on on point you are. But like I said, like the last time, 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. It’s somehow 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.

59:23And so yeah, like even it’s funny, because like I sent some money in. And I went to wire it out like yesterday, because I didn’t have like a perps account loaded. And I wanted to buy some crypto. And 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%. So I’m like, that’s a decent chunk of change. I’m like, I have to hold it on here for like another week. But 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. And then I looked at like the terms and conditions. And it was like, I don’t know, I think that 3% you make over like, some extent, you know, like, I’m like, I’m gonna 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 12th 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 doubt. I’m just gonna like, take the money out and move it elsewhere. Because I’ve

1:00:32like, I’ve had such bad experiences with it in the past. You know, like I a lot of it comes out of 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 doubt in the future. Yeah, I again, I asked the question because I come back to like, what were like trades and equities right now, Coinbase versus Robinhood. Am I are you adding here going into a bull?

1:01:02Which has probably more firepower and upside. I, I feel like no matter how I skin the cat, I come back to Robinhood being the better buy. And 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 something I’m adding into Pons is something I’m adding into and anything else that that is related, a meme on Robinhood, where these listings and things, etc. Even though even though cash hat 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. And it’s clearly clearly they’re probably top priority on new markets alongside with 24 seven stock trading. And additionally, with their AI 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, that could be interesting to see that happen. But yeah, we’ll walk the keep an eye on how both of those play out over the coming coming weeks and months. And obviously, I’m expecting a big q3 for both.

1:02:20Yeah, I mean, again, I you know, there’s a lot of euphoria going on in the markets. After yesterday’s move. And 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. Yeah, Bitcoin just like made a new eye. Yeah, since we’ve been on. Yeah, in the last like 10 15 minutes. So, you know, this is this is bullish. These these pullbacks are are very small.

1:02:52I bought I bought a little BNB, like earlier this morning. I don’t know, I just kind of like, I feel like CZ is going to do Oh, dude, he’s gonna do something. You know, he was seeding last night. You know, he was he was gonna see he’s gonna see Z. So I’m just kind of like, I mean, I’m like, you know, I think I’m why is this at market cap? I’m long from, like, right around here, like six.

1:03:22I don’t know how to take how to switch this back to here we go. Speaking of Coinbase. Yeah, I’m long from like right around here. 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.

1:03:48When it comes to, you know, I think they poke the bear last night with this hyper liquid stuff. I really do. I think they poke the bear and you know, it’s like the Michael Jordan meme. He’s like, I took that personally. And you’ll probably see some CZ on chain for him in the near future. Yeah, no, I look, we’ve also seen BNB memes pick up significantly.

1:04:15And there is for sure an Asian meme coin party going on. We’re seeing more and more stuff, we’ll get launched more, more and more stuff make all time highs.

1:04:27And a lot of inflows as well from Solana to BNB that’s upticked over the last week, for sure.

1:04:35Yeah, I like the trade. I like the trade here. It’s that again, like I, I think 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?

1:04:54So it’s like, you know, but you also have to be ready for like some sort of like macro event, you know, like some sort of liquidity type freeze event that would hit all risk assets.

1:05:08But as we know, the hardest risk assets rally the strongest off those lows, off those reaction lows. But like, there could be like, some sort of like reaction pullback on something.

1:05:22So, but yeah, I mean, 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, Sergio, you know, he used to work at Barclays, and it was a valid point. He’s like, you know, a lot of people, a lot of the big macro guys, you know, we were saying this last week is like are done for the summer.

1:05:44You know, everybody’s got taken like they’re too weaker now until probably Labor Day. And so when they come back, they’re like, Oh, wow, the world’s different.

1:05:53The 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, one of the names that got brought up yesterday, and I also saw on his absolutely terrible ads that he’s been putting out.

1:06:10I mean, like, you know, I’m a sailor, must be very happy seeing Bitcoin go up.

1:06:18What’s your take on what’s going on under strategy and the products that are offering? Do you have a take there?

1:06:25Not really. I think that like, I’ve never personally been a, I’ve never been good at trading like the cap table and understanding like preferreds and, you know, different corporate, corporate class structures of the shares and stuff like that. But obviously Bitcoin going up is good for them, especially them like selling the bottom and.

1:06:52Yeah, I mean, the best I could do when it comes to selling the bottom, right? You know, maybe it’s over, right? And so now, macros going to kind of bail them out.

1:07:02And then sailor is going to be back on top again. You know, like, you know, he sold some but now like the selling has abated.

1:07:12You know, I don’t know. I like 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 sending us higher.

1:07:29And if like, even let’s say sailor were to sell today, like it would get like it would get gobbled up. And at this point, I don’t think anybody would even care of sailor selling because they’re like, oh, well, the basement trade is on.

1:07:40So like, thank you for your sales, you know, sailor. Yeah.

1:07:46It’s so interesting how that flips dynamically where, you know, it’s all dude. It’s all psychology, right? It’s all psychology.

1:07:54It’s like how you perceive you can take like any news headline and for the most part, and like play both sides of it. I think we see this a lot now happen on social media with political issues where, 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 and it’s the same type of thing with markets, right? Where all of a sudden, all news is good news turns into all news is bad news, even if it’s good news, right?

1:08:32And 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? Leopold’s blowing up. So all news is being sold, which it gets more selling, which, you know, I think we always find in markets that the more you know, price leads narrative, right? So the more something goes up, the more, you know, invincible they are. And the more something goes down, the more, what’s the opposite of invincible?

1:09:02You know, like bad news, bad news.

1:09:05Or bad sentiment, it gets more bad sentiment.

1:09:07Makes sense.

1:09:09I got a lot, a lot going on. Obviously, markets are going higher here for the majors.

1:09:18This is good for the trenches. We’re going to see a lot more trading.

1:09:22Every group shot right now is rejoicing. Anything else you want to go over today as far as assets, news, topics?

1:09:30No, I think that’s kind of it. Like I feel like we covered for me, like the main thing has been macro. Yeah. And everything happened there. And obviously, that’s driving like all sentiment on all risk assets. So yeah. Well, we’ll be back tomorrow with our special guest KVM.

1:09:51We’ll be talking again, anything market related. We’re going to be talking on traders versus the new class of traders that we have the broccoli haired Chrome Hearts traders.

1:10:02We’ll be talking YEET, his casino, Onshite casino company that they have. And 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. But guys, thanks again for tuning in.

1:10:30We will be back tomorrow, 1030 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.