Robinhood Drama Market News and Trading Updates
The calls
Every call on the show8 calls
7:40HOODLong“The two companies that I can praise and I can be like, yes, they’re crushing it, are Kraken, and it is Robinhood.”$115.20−6.0%
“The two companies that I can praise and I can be like, yes, they’re crushing it, are Kraken, and it is Robinhood.”
Robinhood is aggressively leaning into tokenized equities and is named as one of the two early standouts.
26:30NBISLong“I still you know, like I still I’m still long it right.… I drew I think on this chart, the reverse head and shoulders that’s still like forming.”$228.51−7.3%
“I still you know, like I still I’m still long it right.… I drew I think on this chart, the reverse head and shoulders that’s still like forming.”
Still long Nebius after a small pullback, since the chart shows a forming reverse head and shoulders.
30:03GOLDLong“Gold is hovering above 4000 still.… it looks like it’s forming a base here. You want it to get long. Probably use that low from last week”$4,354−4.4%
“Gold is hovering above 4000 still.… it looks like it’s forming a base here. You want it to get long. Probably use that low from last week”
Gold pulled back but is forming a base above 4000, so a long entry near last week's low is suggested.
42:57METALong“I’m more bullish I think on meta long term than I am on Google”$654.16+13.3%
“I’m more bullish I think on meta long term than I am on Google”
Meta has the best proprietary data set, a large user base and Zuckerberg leaning in, which gives it an AI distribution edge.
42:57GOOGLAvoid“All the people leaving at Google for the last couple months is like super negative, right? Like it’s just like they’re not they’re not in the hunt.”$330.79+6.6%
“All the people leaving at Google for the last couple months is like super negative, right? Like it’s just like they’re not they’re not in the hunt.”
Talent departures suggest Google has fallen behind in the AI race, so the host prefers Meta.
43:13SPACEXLong“Why have I gotten more bullish on SpaceX over the last couple of weeks is because it, you know, they’re in the hunt.”$149.89+8.7%
“Why have I gotten more bullish on SpaceX over the last couple of weeks is because it, you know, they’re in the hunt.”
SpaceX is in the AI race with energy, and Elon Musk is seen as the best in the world at atoms.
48:23FWALong“I’d like to buy some. I’d like to add to the position here I’m definitely not looking to sell.”$0.0122+4.3%
“I’d like to buy some. I’d like to add to the position here I’m definitely not looking to sell.”
The FWA team keeps shipping, with v2, builder fee sharing and a lowering punk backing that drives spins, and the market cap is down about 66% to $12M.
53:15PUMPLong“This is I mean, this is why I see Pump fun winning on the long term.”$0.00383+30.2%
“This is I mean, this is why I see Pump fun winning on the long term.”
Speculation platforms with volume and marketing win in a gambling supercycle, and Pump.fun fits that.
Also came up
21:51ANTHROPICMention“I know anthropic really wants, you know, to get a good price on its IPO”$984.33
“I know anthropic really wants, you know, to get a good price on its IPO”
The discussion of the AI IPO season covers Anthropic's IPO pricing and its AI-risk messaging, with no trade call.
26:41NVDAMention“I think NVIDIA to me, you know, it’s pulling back. This was like the post earnings low.”$218.30
“I think NVIDIA to me, you know, it’s pulling back. This was like the post earnings low.”
NVIDIA is pulling back on antitrust news around its Groq acquisition, which is seen as likely a nothing burger.
44:22PONSMention“Pons, which we covered in the last show was right around the $820 million market cap.… As of this morning, though, that name is down significantly.”$0.5586
“Pons, which we covered in the last show was right around the $820 million market cap.… As of this morning, though, that name is down significantly.”
Pons popped near $1B and then fell to about $560M, which is used as an example of taking profit early.
45:08LITMention“We have lighter which was a big mover that coming down significantly overnight”$4.56
“We have lighter which was a big mover that coming down significantly overnight”
Lighter fell sharply overnight in a broad market-wide pullback.
47:13CARDSMention“Oh wow, cards is. This was like, I was looking at this this morning… they announced that I think the buyback”$0.1168
“Oh wow, cards is. This was like, I was looking at this this morning… they announced that I think the buyback”
Cards popped on a buyback announcement but made new lows, likely due to token unlocks and investor selling.
Pulled from the episode automatically and priced by Indeix at the moment it was said. Not investment advice.
Clips from this show
All clipshunter on why speculation keeps swallowing new asset classes
gmoney on the account numbers that never had people behind them
hunter on which exchanges are willing to get their hands dirty
gmoney on why the money shows up before the rules do
hunter on the fees that quietly get paid back to the traders
gmoney on the price a founder pays for asking to be regulated
gmoney scandium is the bottleneck to the bottleneck
hunter on handing his group chat over to a model that sounds like him
hunter on the deal where both sides swear they are not using ai
hunter on selling into strength before the round trip finds you
hunter on what actually brings buyers back to nfts
gmoney cryptopunks are the only nft blue chip
The screenshot rule
Transcript
What is up, everybody? Welcome back to another episode of Full Port. I’m so happy to be here today. We’ve got a lot to cover. I’m here with my favorite co-host in the entire world, gmoney.
We’ve got some big things to talk about today. Our goal, if you’re watching this show, is to help you make money, to navigate these markets, whether it’s equities, crypto, options, perps, Pokemon cards, flipping, birdhouses.
If there’s a market out there, you should be able to trade it, and we should be able to help you navigate and make money in that market. I think that’s the goal here. We’re fired up about it.
Um, gee, I gotta, I gotta say something. As I was going to tweet out that we were live, I see news on my timeline that gets me rather excited here.
Um, and, and this is going to have to be the big topic on the show. I, I see that we have NASDAQ investing in Kraken, which has been a rumored thing, uh, over the last two weeks with, uh, NASDAQ, Hyperliquid, and Kraken, all being part of this, like, rumor mill where Hyperliquid’s looking for, uh, licensing and U.S. residency among some exchange with the licensing.
Kraken happens to have those licenses. Um, and then NASDAQ today announcing investment into Kraken. This is big. This is big news. Um, it’s also big news for my bags.
I will be very transparent about that. Uh, and it makes me very excited. Um, look, this is, we’re just seeing the legalization of tokenized equities, of, of crypto, all of this moving forward and forward and forward every day.
And you got to be prepared for what comes next. And it looks like Kraken is, is setting up to be a winner here.
So, yeah. So obviously, you know, the news seems to be really great. Um, I think that, you know, I’ve had, I’ve had this thought now for, for a while.
And I think this is why, like, I, especially, um, since learning more about what Quotrons is working on, I’ve become, like, more bullish on it.
It’s like, I do think that, um, the next, you know, whatever massive market, let’s call it a trillion dollar market in crypto is tokenized equities.
And I think what we’re starting to see is what happened with the tokenized dollar, right, with stable coins is now starting to happen with equities where, you know, everybody wants to, you know, be that platform layer.
And so I think, you know, people are playing for keeps. I think we’ve seen, like, a lot of them out there. Um, you know, I think Kraken is the biggest or the second biggest in terms of AUM, in terms of, like, assets issued.
I think the fact that NASDAQ is investing within them is, you know, super bullish, I think, in terms of, like, their platform.
And as, uh, fellow Quotrons holders is probably super bullish for us too. So, you know, I don’t know what that means, obviously, for, for on-chain, but, like, I feel like it’s a good thing, right?
And so, um, exciting stuff there. I think, yeah, like, I, like, again, like, I think this to me is a sector, you know, I know for the last couple of months, people have been talking about the ARWA super cycle.
And I think tokenized equities is front and center in terms of that, right? And I think, like, you’re starting to see that Robinhood, um, has obviously, uh, has the brand on the equity side.
And, you know, they’ve been really leaning into that. But as we’ve seen with Solana, base, everybody’s doing their own version or spin of it, right?
Like, because X stocks is also, like, on Solana. I think it’s, like, the biggest issuer of, uh, tokenized stocks on Solana. And then I think Backpack is second behind them.
But like I said, this is, like, a massive, a massive, massive, um, TAMP. And so that’s why I think everybody’s trying to attack it, right?
And even, uh, I was reading either, yeah, it was earlier this week, how I think the SEC has come out with some sort of, uh, commentary of something to the two.
I don’t understand the exact implications of it, but maybe transfer agents being able to offer tokenized stock, um, and you don’t have to necessarily have a broker-dealer license in order to do it.
Oh, wow. Which means, like, and I think, uh, ARK is one of the people that are trying to do it. Um, I think with Securitize, maybe. I think that’s what, like, the rumor is.
And, um, you know, there’s, people think, like, maybe BlackRock gets into this, this game. But again, like, I think people understand how important this is.
Because this is probably going to play out exactly the way stablecoins played out, right?
And so I, I think there’s, like, a massive opportunity set. And I think, again, talking, talking to the Quotrons bag, I, to me, this is kind of the stuff that makes me bullish on it, is that you’re going to be getting, you’re going to be getting this massive push by the largest institutions on the planet, right?
Because, like, even when you think about, like, all right, who were the biggest, who are technically the biggest stablecoin winners, um, over the last decade, right?
It’s probably Tether, Circle. I mean, those are the two that I can think of off the top of my head that were, like, the biggest winners in terms of stablecoins.
And they, like, came out of nowhere, right? They were, like, crypto-native. Now they’re institutional, right? Because they’re so big.
But I think a lot of these institutions are seeing what happened with stablecoins and be like, hey, we don’t want to leave this out, right?
Because, like, also, like, they’re, they’re late to the game on perps, right? They’re catching up on perps. And they’re like, okay, well, tokenized equities is, like, a big thing, um, going to be a big thing on a go-forward basis.
So they want to be involved. So I think it’s, like, interesting times ahead, for sure. It’s going to be very competitive.
Very, very competitive. And it will come down to a few things, like, the analysis that I think everybody has to be looking at is, one, obviously, the licensing and, like, the partners that you have into those products.
So, obviously, Hyperliquid is the dominant player in the tokenized equity space.
But I think in addition to that, it is going to come down to who is willing to probably push the envelope and be creative and try to be the disruptor.
And if you see that company taking the risks, doing things that, like, no other company has done or is probably willing to do, I believe that is where you’re going to see the winner emerge.
And so early on here in this part of the cycle, I think the two standouts, the two companies that I can praise and I can be like, yes, they’re crushing it, are Kraken, and it is Robinhood.
Both of them seem to just be like, you know, hey, we’re going to do whatever it takes.
We’re going to get our hands dirty.
We’re not going to be worried to listen to the crypto guys.
Nor are we going to be worried to jump into tokenized equities and really go run with – like, we saw the drama with AMC and Robinhood.
I believe that you probably have Coinbase and other exchanges and other chains that were like, hey, we don’t want to stir the pot.
Robinhood seems to be like, look, we’re lawyered up.
We’ve got great general counsel, and we’re happy to educate you for free.
Like, listen, I’m sure they all have really expensive high-priced lawyers, right?
You know, they’re all multibillion-dollar companies, so I don’t doubt that they’re all kind of getting the same type of counsel.
But, yeah, to your point is I do think that there’s been a lot of money to be made in, let’s say, the gray areas of regulation of like, hey, this is not totally kosher.
But, you know, maybe it’s – maybe it’ll be there in a couple years or it’s towing the line or whatever.
And, you know, if you wait for it to be totally kosher, like, the opportunity set has passed you by, right?
Like, literally, if you were waiting for U.S. regulations to issue a stablecoin, like, you wouldn’t have been able to launch a stablecoin until like two years ago, right?
You know, or even like a year ago.
And, obviously, that market has already been, for the most part, decided, I think, you know.
I think people that are launching stablecoins now, I think it’s a really, like, uphill battle, right?
Because, you know, it’s like if people – like, if you were to be like, hey, gee, like, I want to send you, like, this stablecoin and, like, I’ve never heard of it, I’d be like, just, like, transfer it over to USDC and send it to me, right?
Because, like, I don’t know what you’re sending, right?
And so I think it’s, like, the same type of thing with tokenized stocks.
But, yeah, I think – again, I think people understand how important this market is and how big it’s going to be.
And it’s going to be fun to watch it play out, right?
And, like – but to your point is, like, I think a lot of what we’re seeing, what Robinhood has shown is that this experimentation on chain.
Is really creating some sort of demand sink because people want these stocks on chain, right?
And so, you know, we’ve been talking about it now for a couple of weeks where people are like, we’re going to cause a short squeeze on blah, blah, blah, on XYZ stock.
And that is like totally ridiculous. I’m not saying that it can’t happen.
It is that you need a lot more, like buying $3 million worth of a stock isn’t going to do it, right?
Like $3 million of AMS. Your size is not size on Wall Street.
Right. And so like $3 million of AMC is like whatever that is, like 100,000 shares.
I don’t even know what it is. I mean, it makes me think back to the Kobe tweet where the guy was like, do you remember the guy was like tweeting with Kobe?
And he’s like, yeah, like, you know, these guys are using different size.
And Kobe replied back to me. He’s like, I don’t think our size is the same.
And the guy was like, yeah, I’m using, I’m like, I’m placing like $100,000 trades.
And Kobe just replied back. Yeah, dot, dot, dot.
Like it was an iconic tweet at the time.
Same thing right now. Like we’re going through the same space of like, you might think somebody, you know, buying $3 million worth of AMC tokenized stock is big.
But you got to realize for Wall Street, that is absolutely, that is joke money.
Like that you are the poorest person in the room at that point.
Yeah. So, you know, like, again, I think the, to me, the interesting things is, and we’re seeing it happen on chain, is all the cool and interesting concepts that were brought about from DeFi Summer and composability and all that stuff.
Now, you can actually do it with assets that are less volatile, that hold value longer, right?
Because even though Bitcoin and Ethereum are less volatile than alts, they’re still like very, very volatile products compared to most financial instruments.
So, you know, I think the fact that you can do that, you can now do these money Legos type of things with NVIDIA, with, you know, Apple, you know, to me, that’s really interesting.
And I think that that’s where we’re going to see a lot of cool stuff happening.
You know, we were talking about it on Tuesday.
Turns out, dude, turns out this, that rug, that crumbs project was a rug.
I don’t know if you saw that. I did see that. It did annoy me quite, quite a lot to see them drop that CA.
I think, I think from a consumer behavior standpoint, insanely cool idea.
Yeah, like, I want to fund it. I think people were talking about how, I think, receipts might be, like, the legit version of it.
So, I got, I got to do some DD on it.
But, yeah, like, I, that goes to the experimentation, right?
And the cool stuff that people can do, right?
I buy something at Apple, I get cash back as Apple stock or Costco, whatever, whatever it is, right?
Like, you go, when you spend money at that place, you’re obviously a customer.
You obviously like what they’re doing. And so, why not get rewarded in stock as opposed to just cash, right?
And, again, I think it’s a psychological thing.
It’s consumer alignment, though, right?
Like, I think, I think it’s, if you are loyal enough to go and use a company’s services, you should be a stakeholder in that, in that company.
And it might be very small, right?
You might only get, make $100 worth of cash back from shopping at that company.
But if you’re, like, let’s say you do that early enough.
If you had been buying the first iPhone, I’m curious, on a cash back basis, if you were getting 2% cash back per purchase since the first iPhone, what that would be worth.
I’m sure it’s enough for a free iPhone, right?
It would be worth a lot. Yeah. It would definitely be worth a lot.
But, yeah, no, I think, like, but, again, I think we’re going to see a lot of these concepts really start to play out.
So, it’s, I think it’s really exciting times for on-chain, you know, we’ve been saying it now for a couple weeks, how on-chain’s been picking up, makes more sense, and, yeah, excited to kind of see where the space goes to from here.
Yeah, well, if you haven’t, if you’re a viewer of the show right now, it’s probably obvious today’s pretty red across the entire market.
Most cryptocurrency names are down.
We are seeing a little bit of fear into the markets.
Robinhood chain getting hit quite hard following a tweet from Rich Nick, who put out a tweet, very ominous tweet, saying, I’m hearing things, and I’ve been given insider information and this PDF, and I don’t like what I’m seeing, and I’m very worried about what happens with Robinhood chain once this information comes out.
So, with the entire industry basically pushing back and saying, like, hey, this is irresponsible.
We don’t love that you’re just throwing this out there.
I’m hearing that the rumor is a mixture of things.
Some people saying that it is Robinhood chain engaging in wash trading, market making, volume boosting, as well as possibly them having relationships with different trading venues to basically push their tokens.
Again, this is all rumor, but I think it’s fair to assume that none of these, no, no, everybody’s playing a very mafia-esque game right now for attention, volume, and to have a seat at the podium, whether you’re a trading venue, a chain, a project.
It is pretty cutthroat to be winning right now, and I’m sure whatever he’s alluding to is something in that gray area of, like, what do you have to do to win in this industry right now?
So, yeah, so I haven’t – I saw, like, one or two tweets on the timeline alluding to maybe, like, volume manufacturing or botting or whatever, and I’m just like, yeah, well, like, I feel like every, like, protocol in crypto has done that for the last decade, so I don’t really know what’s new here per se.
You know what I mean? So, I don’t know, if it’s just that, then it’s, like, to me it’s kind of like a nothing burger, but just, you know, again, I don’t know the legality of it or any of that stuff, but to me it’s just, like, standard operating procedure in terms of, like, crypto, right?
Like, I think, you know, one of the things that I think really frustrated me when I had an ADCC and I was talking to VCs and I was talking to, like, our community and stuff like that, and I would tell them, like, oh, here’s our, like, community count, and these are, like, how many people show up to a thing, and, you know, it’d be maybe in, like, the low thousands.
It’d be between, like, 2,000 and 3,000, and then, like, people would be like, oh, well, like, this protocol, you know, just, like, has, like, 75,000 accounts, and I’m like, you know that’s true, right?
Like, that’s, those are not real people.
Like, I have real humans.
There are literally 75,000 people in this entire ecosystem right now.
Like, that was the joke. So, yeah, and so, like, that’s, to me, I always found frustrating, so I’m just like, all right, cool.
Like, if you want these type of fake metric porn, which people, you know, there was a time and a place when it worked, but then, obviously, I think over the last five years we’ve seen that, you know, those things are, like, hype and manufacturing, and it’s fake hype for the headline grab or whatever.
And so, I don’t know, it’s, like, if, you know, you telling me if it’s Robinhood, like, promoting the increase of trading, like, I mean, I guess those are real fees earned.
I don’t know. I don’t really see the big deal. Like, people, like, real money and trading, right?
And so, you know, I think this was also, like, the thing with Solana, right?
People are like, oh, well, the fees are so low, so there’s a lot of, like, wash trading going on and stuff like that.
But I’m like, but still, I mean, you can’t really argue with economic activity that’s happening, right?
And so, like, fees are being paid.
And so, you have, like, you can discount it, but, like, at some point it’s like, all right, well, the fees are being generated.
So, you know, you gotta, like, respect the fees.
Yeah.
You can’t fake fees. I come back to that. Actually, you can. You can fake fees to an extent.
Right? Like, fees are just, and we’ve seen it before.
If there’s, like, a kickback or a rebate on the back end, sure, right?
But, like, yeah, well, and that’s what everybody’s doing right now is, like, the whole thing with, like, these trading platforms that, like, makes me laugh.
And somebody who runs a trading platform is you will see, like, huge volume, huge fees being like, oh, they’re making a million dollars a day.
And then you look at some of the wallets, you understand what the competitiveness of getting these traders onto their platforms are.
And I can assure you, like, the top traders on these platforms are getting 85% plus of their fees kickback, if not all of them.
You know, or maybe 80% plus they’re getting, like, a $15,000 to $25,000 monthly kickback in cash.
The deals are eye-watering because the platforms understand that it’s actually marketing to be higher on these charts, to be higher on doing analytics, to be higher, to be quoted by DGEN News that, you know, oh, this company just flipped this other company in monthly fees or monthly volume.
They’re willing to lose a quarter million dollars to get that out of marketing because they know it brings in a quarter million dollars with the fees over the next month for those added users who jump on.
And so you are seeing a lot of LARP.
You are seeing a lot of smoke and mirror stuff.
But as I’ve alluded to, you will not know the real winner until, I think, around December when the final real bullets are, I think, shot.
When you start to get into airdrop season, you start to get into kind of a more mature part of the bull cycle and anybody that was using an unsustainable trading mechanic where they were basically just exit liquidity slash being farmed, they will have left at that point and they’ll be at the new place, which is why I get so excited about Kraken and Robinhood as a general company, because you know that they’re doing things that they have to be sustainable and they are moving more into, I think, an equities and tokenized, you know, pre-equities, IPO-esque world that is going to bring real traditional capital, Wall Street capital into the playbook.
And I think that’s probably what has helped hype as a traded asset, which is it’s trusted.
People feel like they can put money into it and put money into even the token and know, okay, this isn’t going to rug or they’re not going to do something super unethical.
The same way I look at those companies and say, all right, they’re building for, they want, they don’t want, you know, another $15 million worth of daily volume on chain.
They want billions of dollars to come in daily on chain.
What are they going to do to do that? And they’re, even if the fees are lower, they know that, hey, if we bring Wall Street on, we can bring on the top trading firms, the funds, we win.
And so that’s why I’m aligned.
It’s also interesting, I think, obviously, you can trade Robinhood, Kraken, I think, IPO stuff, Rumor Mill.
I know they have OTC deals happening.
You got to be aware of the IPO season coming up, which is why I think you and I are bullish on the API, the AI trade right now, knowing that a lot of these guys are about to pump their bags, which I think that tweet that came out, the other day, with the, I think it was Anthropic guy.
How AI is going to kill off humanity.
Yeah, yeah. I thought that was marketing. I was like, this is great marketing. So here’s the thing about Anthropic and OpenAI, because I saw a headline how OpenAI also kind of agrees that we should be regulating these AI systems, or these models, is that, like, it’s, I don’t know, like, who the fuck is advising them?
You know what I mean? And, like, I get it. I know Anthropic really wants, you know, to get a good price on its IPO and stuff like that.
But it’s, like, dude, like, Dario went from six months ago being kind of, like, the savior of AI to being, like, the most hated man.
Like, he, like, surpassed Sam Ullman.
You know what I mean? Main character syndrome, like, you really got to be on top of it.
Main character syndrome will ruin anybody’s image at some point.
I think the second you get in that position, you got to reel it in.
Like, you got to be quieter.
The bigger you get in the news, the quieter you got to be.
Yeah. No, I tend to agree with that.
But, yeah, like, it’s just, like, they, I don’t know.
I read that, and I’m, like, all right, cool.
So there’s a 10, over a 10% chance that humans are extinct within a decade.
And I’m just, like, I’m kind of, like, all right, well, let me just, like, live my best life while I can’t.
Because, like, at this point, what can you do?
The cat’s out of the bag, right? Like, it’s, like, whether it happens or not, like, nobody’s slowing down, right?
Like, because even if we, like, put in regulations on the U.S. side, China’s going to keep on going.
So, yeah, man. I don’t know. I just, I think it’s kind of, like, marketing.
And I think everybody discounts it as marketing at this point.
And people are just, like, oh, yeah, like, you know, whatever.
Like, I don’t know. I just, like, I try to take it with a grain of salt because, like, nobody really knows.
And I think even trying to put, like, odds on it is kind of weird because, like, you don’t know.
Like, I don’t, like, like, what do you, like, people didn’t even know.
People can’t even predict what’s going to happen three to six months in the future.
Like, whether it’s AI or not.
And so then how are you going to make that prediction for five to ten years out?
Like, it just, I think it’s just, I think it’s kind of, like, a fool’s errand, right?
Because, like, nobody really knows. There’s, like, a billion things that can happen between here and there that would change the course of how this all plays out.
Well, I guess the good news is we get to live it, watch it, and trade it over the coming years.
Well, I don’t know if that’s good news. It’s, I mean, it sounds, like, if it’s true, it’s going to be, like, a really difficult time.
You know, like, it’s not going to be fun.
It’s, like, I mean, you’re talking about, like, Terminator.
You know, like, if that plays out.
Again, I’m, I will be enjoying this from my large pot of land with no need for the power grid.
And, yeah, I’m good.
Trust me. Well, I’m fine. So in that scenario, I’m fine. I’m selling NFT, I’m selling NFT memberships to Chateau Aurel.
They start at 10 ETH.
I’m going to be good. I’m good.
25K? Yeah. To make it in the, in your house?
All right, cool. All right, maybe I’ll be there. But then my problem is, there’s all, like.
I think there’s a cheap country club membership plan right there.
I think that’s, I think it’s affordable. This is, like, but here’s the thing, right, is, like, in that scenario, it’s probably, like, the walking dead type of thing.
So it’s going to be, like, all right, cool.
Like, I got to go to Hunter’s place.
Now I got to figure out how to get there and survive that trip.
And hopefully he’s still alive.
Oh, I’m alive. Look, I’m good. I’m so good. All right. I mean, in that scenario, dude, like, your computer’s probably, like, trying to kill you.
And your microwave’s trying to kill you.
I don’t know. I don’t know, man. Good luck. This is, like, a Rick and Morty episode.
Wild.
Well, on the topic of AI, obviously, I want to jump into equities here this morning, see what’s going on, if there’s any trades.
We’ll jump into crypto, what I see moving, maybe even NFTs at some point here.
But let’s jump, I guess, directly into Nebius.
Yeah, well, I just think, like, in general, it’s had, like, a little bit of pullback over the last couple days after, you know, we were talking about on Tuesday.
I think AI, in general, caught a bit.
I still, you know, like, I still, I’m still long it, right?
Like, it’s still, I drew, I think, on this chart, the reverse head and shoulders that’s still, like, forming.
And so, the chart still looks healthy.
I think NVIDIA, to me, you know, it’s pulling back.
This was, like, the post-earnings low.
Back to there, there was, like, news of Antitrust with their Grok acquisition from a couple months ago.
So, I don’t know, it seems like it’s going to kind of be, like, a little bit of a nothing burger, but still negative headlines.
The stuff, I think, like, what we were just talking about, picking up steam in terms of, like, negativity on the timeline, AI bad.
You know, I think it’s just all these things probably come together as a confluence.
The, I think PPI came in a little hot, and that caused, like, a sell-off.
So, yeah, I think all eyes on the CPI tomorrow.
Warren, Iran picking up, you know, oil back at, what is it, 100 bucks, right?
So, again, I think, like, to me, like, oil is, like, a really tough market to trade.
So, I generally stay away other than, like, watching it, but not great in terms of, like, all the messaging that we were having from the Trump administration in terms of, like, this thing being over.
And it turns out it’s starting to escalate, and I think there was news overnight saying that this could go to the end of his term, which is obviously not the news he wants to hear.
And so, yeah, I think it’s just, like, you know, a confluence of things.
We have a, you know, the weekend coming up.
I don’t know. I just think that maybe people are just trying to lock in some games and stuff like that.
But, again, I think, you know, now all eyes on the Fed coming up on their next meeting and seeing what they’re going to do.
And, like, in general, for me, like, I’m comfy.
Like, I know it’s a good meme, but, like, I’m comfy in the spot, right?
I will point out Sunrise Energy, which I think I started pounding the table on it pretty much when we first started.
I started tweeting about it publicly, I think, around here in this area, around $12.
Like, new all-time highs last night in Australia.
You did. First show, you brought this up. You said, I can see this at a 2X before the end of Q3.
And you said, and I’m going to love it.
Like, we got to find that clip. You literally were shilling this on the show.
I mean, like, yeah, I can see this at a 2X by the end of Q3.
It looks like this is going to happen before October, even.
We’re almost there. Well, that would be the end of Q3, so that would be great.
Wow. So, yeah, so, you know, I think in general, what this tells me, too, is that, again, and one of the reasons why I like Sunrise is that they are the bottleneck to the bottleneck, right?
So we need energy.
Bloom Boxes and Bloom Energies, Bloom Boxes utilize Scandium.
Sunrise has the largest outside-of-China Scandium deposits in the world that they’re working on.
And that’s bullish, right? You need Scandium in order to make Bloom Boxes.
You need Bloom Boxes in order to make energy. You need energy in order to make inference, right?
And so that, to me, has been the trade there, and I think it helps that.
I think it’s a good thing. I think it’s a good thing. It’s in the physical commodity sector, which is obviously caught a bid. Gold is hovering above $4,000 still.
I think all my gold, it’s had a pullback, but it looks like it’s forming a base here. If you want it to get long, probably use that low from last week and see what’s good.
Right. And so I don’t know, like to me, it’s probably, you know, the midterms are coming up.
So people are going to start getting anxious around that, whether, you know, Trump is going to be a lame duck president on the back half of his of his of his term.
Yeah, I don’t know what the odds are at the moment in terms of that, but we should look that up.
We should wait. Let’s pull it. Let’s pull that up on loot or polymarket here.
I do know I do know the prediction market space recently.
And obviously, I I’m pretty excited because I won the NFL bet last night on on loot.
I told myself I would do whatever keyboard monkey does for the entire season.
I would not think the only the only games I will not listen to him on are anything Raven related, because I think this is our season.
But I am I am one and oh so far.
Let me pull this back up here. So right now, 53 percent chance, 87 percent chance.
OK, so. All right. So it looks like the dams are going to take the house.
But I mean, it looks like the Senate is a toss up. So, I mean, I think all eyes will be on this on these races.
I guess these ones, I guess. I don’t know what the ones are.
But yeah. So I think that’s interesting.
And I think that’s worth keeping an eye on. And I bet you the price of risk asset changes depending on where these these odds point to.
You know, but I do want to bring up the convo that we had on Tuesday, because I did have my fantasy draft and you said that you got a lot of feedback from people absent where it’s asking you and myself included, where I was like, hey, what’s the prompt that you use?
Yep. I had a total number of six people either called or text me and asked me, hey, I watched the show.
I need. Can you help me? And also to those six people, you know, you are.
Thank you. I didn’t know you guys watch the show. Good to have you viewing.
Yeah, dude. It was so. So they say I did my draft. I had it on as a I don’t know if anybody from the draft is actually watching this, but I they I told you like they were like, you’re not allowed to use AI.
I had it like as my assistant. It was a it was an auction draft, which I’d never done before.
Oh, they’re so long. I felt like it was so much longer than a normal draft because like because like every time you bid, like it extends the time of the pick as opposed to just being like you have 60 seconds to make your pick and then you have right for yours.
Yeah. So it was like two and a half hours. I was like, dude, like get me out of here.
So anyway, I was using Grok to help me. And then like I kind of set up Grok. I’m like, all right, this is like, you know, here’s the login.
And like you run the team now and already like picked up some free agents, drop some people.
So we’ll see how it does. I think I was like number two in terms of like projected points after the draft.
But I feel like I think that’s also like such a fake stat for the most part.
Like I feel like the people that have like the strongest projected teams. I don’t know if they always win.
So I don’t think they do. But here’s I never do ESP like fantasy football.
I usually hate it this year. I’m actually into it because it is such a I don’t even have to open up like I’ll have like the notification of like the score on my phone.
But what I’m doing now is I’m doing work. I’m building loot. I’m working on the show, whatever.
And I just go to a Claude pin chat. And I’m like, yo, by the way, like here, like I want to like check on everything.
Let me know. How are we doing? Can you look through like go and run all of your tasks?
If there’s an update or something that you need my input on, let me know.
But for the most part, go do it. And it’ll come back and be like, oh, like we just scanned again.
We’re going to scan in 24 hours. We just dropped this guy, pick this guy off of free waiver.
And that added three points per week projected per game.
And I’m like to me, that’s fun. It’s more of like a like I’m playing this like battle.
And I know for a fact, again, both of my leagues that I’m like very, very vocal in, I’m in like group chats.
I have AI sending all of the messages in those.
So all the taunting like like in my iMessage chat with my Baltimore, my Baltimore guys, there’s not a single thing that happens in that chat.
That is me. And so I got a text this morning and they were like, wow, like you’re really laying on Ridge last night about his team.
I was like, oh, fuck. What did what did I say? And it literally was like it was like he had text.
He’s like he was like, oh, my God, I just checked. My team’s really ass.
And I replied to it or I replayed back to it. Yeah, it is.
Which it said some other stuff. But I was like, OK, like I like this.
Like, it’s just it knows it knows like how I would talk. It has my voice like it’s fun.
It feels like an extension of me that I don’t have to control.
I do like I will say, like, I love that you’re doing that.
I did want to name my team like Astra Extra High Reasoning after kind of like exactly what you said.
But I don’t know. I only know like three people in the league.
And I’m like, no, you got to you got to lean into it because look, everybody’s calling me GPT boy in chats.
And like I got invited to dinner by somebody and they’re like, oh, invite GPT boy.
I thought it was I was I thought it was funny. I was like, because I corrected them and I was like, it’s in it’s fable, not GPT.
And they were like, what the fuck does that mean? I was like, man, we’re so early. We’re so early.
All right. I’m going to after this, I’m going to change it to Astra Extra High Reasoning or Astra High or whatever it is.
But I will say I have burned through an insane amount of credits in the last week between loot stuff, fantasy football.
And then even even like things around just like personal life stuff, like I’ve burned through more tokens in a week than I think the last month combined.
I just have so much going on. There’s a lot of like big deal conversation.
But this is the first time I’ve had to load up more credits in this size ever.
Well, that’s a good thing because you’re being productive.
So I did I did listen to a podcast talking about like what’s new in Astra and how I think people because I think the reaction to Astra has been so like barbelly.
People are either like AGI is here or like, you know, this thing can’t code.
And it like there’s no there hasn’t been like an in between.
But I think one of the things that I was hearing is that Astra is able to do stuff for much cheaper than the previous models.
Like the cost basis has come down a lot. So I’m interested to mess around with it a lot more.
But I think that’s the trend you’ll see. And this is just from like my my early years in AI when we were doing, you know, like TensorFlow, like CNN models.
You will see the low end cost continue to like go down more and more.
But to the person who’s like, hey, I have the most complex task, the heaviest lift.
I don’t care what it costs. I just need it done the best.
And I’m like, that’s where the edges that will I think you’ll continue to see that price go up and continue to see demand for that go up.
But the mundane, simple, light lift task that will trend towards zero.
But where Anthropic and ChatGPT or Anthropic and OpenAI and all these other labs understand the real win is if I and I always come back to this example.
Me and G money have two companies and we’re trying to do a business deal.
Both of us are telling each other we’re not using AI. We’re going to go back to our lawyers.
In reality, both of us are just going to our models.
We’re going to use the most expensive, the most capable and the most contextualized model that we can that has all of our information.
And we’re basically it’s like playing Pokemon almost.
It’s like, all right, model, go get us the best contract terms and deals and negotiate with this person.
And you do the same thing. I will spend and use whatever it takes to get the best deal done.
So will you. And so it just becomes it’s like it’s like a video game at the end of the day.
And that’s I think that’s the trend you’ll start to see sending an email or like asking somebody to like check my Slack messages.
That trends towards zero like that. Those easy tasks will just get easier and easier.
Yeah, no, that I totally agree with. It’s funny.
I spent a lot of time over this past week.
I’m visiting my parents and I’m trying to help automate some of the tasks that they do, like balancing their checkbooks.
Right. And like they’re just like so they do it by hand and stuff like that.
And so I’m just like, all right, well, you know, setting them up on like a Quicken type website.
And then, you know, I was just kind of like going through.
With Fable, with Cowork being like, hey, all right, do this, like import all of their old transactions.
And then I did all of it where, you know, myself for a while, like it would take it would take me a long ass time to do it on my own.
But now I’m just like, all right, here’s what you need to do, blah, blah, blah. All right, let’s check it, this and that.
And now, like, I think I think I’m able to cut my parents time in that it takes from maybe like 20 to 30 hours a month, probably down to like one to two hours a month in terms of like how long they spend on it.
And so, I don’t know, I just, it like, I think that they were going to see more and more.
Like, it’s not easy enough for them to really use it yet, but like, it’s probably like six months away for them to just like chat with, you know, chat GPT and be like, okay, like, this is what I want you to do. And like, it logs in to the site, because that’s basically what I was doing.
I was logged in to the site, I was telling it what changes I wanted to make, how, you know, set up the accounts, ask me any questions, you know, message me when you’re done, right?
And I think, you know, again, to that level of productivity that we’re going to see on those types of things, I was using Fable 5, right?
Because I was like, I don’t want any mistakes on this, but if I was like going to send an email, I would be whatever, Opus 5, right?
Just because like, it doesn’t need, I don’t need Albert Einstein to send somebody an email, right?
So, but. This is true. I also think it leads me down the path to the companies with the best distribution, as you see these models get better, our best position.
So Google and Meta here have me pretty excited for once their models get a little bit better.
But I think the long tail being a user base like Facebook, where Meta has a older demographic that still has not adopted into the AI world, but they’ve heard so much about it.
When they come out with a product that will get a lot of use and is paid for, I believe that is going to convert quite well to when you have this boomer who’s just never touched AI and all of a sudden they’re into it.
And it’s helping them, helping them understand the news.
To them, that will be life-changing, where they’re like, oh my God, I don’t have to scroll.
Well, actually, that might be bad for the ad side of things for Facebook.
Hmm. I don’t know if that’s a great thesis, actually, as I’m like talking through it.
Well, I think, so I think Facebook, here’s the thing about, because I think it’s almost, this is like a little bit of like the good Alexander thesis of there’s a barbell approach of people that will be very, very productive with it.
But then most people will just be like consuming AI slop and like, you know, kind of like, oh, just a little, a level of escapism that happens, right?
When you’re like, I want to be entertained.
And whether that’s like a world of hyper gambling or a world where you just disconnect and watch AI slop videos, you know, it’s just like kind of like pick your poison.
And so, yeah, I’m more bullish, I think, on meta long term than I am on Google.
I kind of feel like all the stuff, all the people leaving at Google for the last couple of months is like super negative, right?
Like it’s just like they’re not, they’re not in the hunt and it doesn’t seem like they have the talent to get to the hunt, right?
Like, again, like why have I gotten more bullish on SpaceX over the last couple of weeks is because, you know, they’re in the hunt and they have like all, they have the energy, they have, you know, the guy that arguably is the best guy in the world at atoms, right?
Like the guy can make anything in Elon Musk.
And so, and he understands what’s at play here.
And it just seems like Google was at play, was in the race like six to eight months ago.
And it just seems like they’re not there now, right?
But yeah, and, but it also like to the point, the opposite is like, it seems like Zuckerberg is really leaning in.
He knows what needs to get done.
He’s doing it. And maybe he’s not in the race at the moment in terms of like frontier models.
But he also has probably like, probably the best proprietary data set on the planet.
So, you know, there’s a lot of value there.
Right. No, totally agree. Totally agree.
I do want to hop into maybe the world of crypto here.
Ponds, which we covered in the last show, was right around the $820 million market cap.
We saw that pop almost to a billion, putting a lot of pressure on that short that we had covered, the $70 million short.
As of this morning, though, that name is down significantly.
That is down to just about, I believe it was down like $500 million range.
Um, I’ll pull up the current number, uh, $560 million here, uh, on loot.
Um, so significant pullback.
Uh, we are seeing more, uh, names as well down.
We have, uh, lighter, which was a big mover that coming down, uh, significantly overnight.
Um, as well as, basically, I mean, look, every, every name at this point has pullback, uh, significantly.
Um, a lot of Robin Hood speculation here, uh, concerns over, um, what this Nick tweet was.
And I think also a lot of people playing into CPI concern that, uh, majors and alts will get hit.
Um, I think if you are in a position in profit, and I’ve gotten texts about this, the last, the last 24 hours, I’ve gotten more texts than ever over people who are like, it’s over.
I have, I have, you know, I’ve lost so much money.
I round tripped almost six figures, um, to those people.
If you’re listening, like, it’s okay.
You’re not alone, but I think this is probably a good example of like, if you were up big on ponds, going to a billion dollars and you’re starting to sense.
Like, if you send a screenshot, when the second you take a screenshot, I think it should be a rule that you sell 10, 15% of your bag.
If you haven’t sold any, I think that’s where you take a quarter of the bag off the table.
Um, because that’s like a non-biased indicator that something that was not expected to happen is happening.
Um, and you probably shouldn’t max bag things because of all the times I’ve seen people hold all the way to the tippy top and sell.
Um, there’s about a hundred other times I’ve seen somebody round trip their bag.
And so that statistically, you’re just not going to be able to sell at the pico top all in one clip.
Um, I’m just a big, I’m a big proponent of like, twop out, sell, sell when the euphoria is high.
Um, which is harder than done, right?
Like it’s really hard in the moment when, when the price is up 200% in 24 hours, if you’re like, ah, like I should take some profit here, but that’s what you need to do.
Um, oh wow.
Cards is, uh, this was like, I was looking at this, this morning.
I thought it was like kind of interesting.
Cause they announced that I think the buyback or something officially over, over here and it popped and it’s been straight for sale.
And I think, and then I was looking at the market cap and I saw the market cap is like way higher.
And I think that’s, that’s just because there has been token unlocked.
So it’s almost like they announced that maybe they’ve been buying stuff back, but it’s been like, you know, it made a new low. It broke that low over there. I think kind of held the low from back in May, but yeah, I was just like super surprised at the price action.
Cause when they, when they made that announcement, I was like, oh, this thing will probably start running.
Um, but yeah, so I, I just don’t know.
So if anybody has information on that, I’d like to, to learn a little bit more about that because I, I really thought with that positive announcement, it would run.
But again, it could be just like tokens unlocking and investors selling that are up a bunch.
What is, what is your take on FWA that has, uh, since our last coverage, that’s dropped about 66% down to, I believe this morning, $12 million, uh, market cap.
Um, we’ve seen this kind of yo-yo between 10 and 30, uh, has seemed to be the pattern.
I want to, I’d like to buy some, I’d like to add to the position here.
I’m definitely not looking to sell.
I think, um, you know, he made some announcements yesterday or the day before for V2 yesterday.
I think it was for V2.
Um, I think it’s all bullish things.
Like he’s taking feedback and, you know, even after I, and this was even more bullish, even after he made the V2 announcement, somebody said, there was a, the guy, um, I think it’s miles, zero X miles who built, um, ripster or like the pack rip.
The, the, you can, you can put money towards a group pack rip, right.
And then it’ll buy all those packs and rip them.
And he was like, it would be really cool if a percentage of the fees went to app builders.
So then app builders didn’t need to charge a fee on top of the FWA fee.
Right. So they can kind of like, it’s almost like being paid to bring traffic.
And so he like implemented that a couple hours later and I’m like, all right, this is great because I do think, and I’m pounding the table on this.
I’ve been saying this now for a couple of weeks of now, like he’s built like the infrastructure layer and he’s built out the inventory, the way it works.
Now he just needs to get more, more people spinning.
Right. And so he’s obviously thinking about it a lot.
I think every, like even the punk, the punk stuff where, right.
He buys it from punk strategy, puts it in the vault and lowers the backing every.
Hour or every couple hours until it gets spun or until it gets won.
Like I think people hadn’t even realized that until like yesterday, right?
When I was like – I saw that. I’m like, oh, this is crazy bullish. And that was like a week ago and I don’t think people are realizing it.
And it’s like, yeah, like if I could win – if I had like really good odds of winning a CryptoPunk for whatever, 100, 200 bucks, like I’ll tell you what.
If the backing gets to like one ETH, like I’m definitely going to do some spins because that’s – Oh, is that still going?
Yeah, it keeps on going.
Like it’s like – and so when that one sells, then they buy another one and then they do like a reverse – it’s like a reverse – think of it as like a reverse progressive pop because your odds get better as like the longer it’s in there.
Interesting. So like I just think like that, right?
Like you – like if I told you that you could win a Punk at one ETH backing, like you’d spin like all day.
What is that at right now?
This is interesting. So wait. For those who aren’t aware, they bought a Punk.
They put a backing behind it and then they’re lowering the backing every day.
Right now it’s Punk 3498.
The current backing looks to be 18.3, which is about half of what the four CryptoPunks are right now, which is about 30.
But it’s – I also want to highlight that they didn’t just buy a Punk.
They bought a Punk from the Punk Strategy vault, right?
Punk Strategy was one of his previous projects.
There’s like 40 Punks in that vault.
So what he’s then doing is taking a portion of the fees, buying that Punk, putting it in FWA, and then lowering the backing so that you’re – the longer it’s in the pool, your chances of pulling it get higher.
And so like that will ultimately – the theory there is as it gets lower, more people spin, right?
So that leads to more spins, which is like what you want for the flywheel.
So I think like that’s awesome. He’s thinking about this stuff and the fact that he’s willing to give builders building on top a portion of the fees.
I think that’s also awesome. What I think somebody needs to build is FOMO for FWA, right?
Like I have a lot of ideas on this.
Like I’m definitely down to like if somebody is like I want to build this, I’ll give them like this is what I think you should do.
My opinion, do with that what you will.
I don’t want to build it, but I know that it needs to get built.
And like once that gets built, like then it’s like you just – you need like a – you need a growth marketer that knows how to do content on like TikTok and Instagram.
And then you start seeing like the same type of numbers that FOMO sees or that Courtyard sees, right?
Like these are all like the same types of concepts.
You give people a different way to gamble, right?
And so it’s like you pick your casino game, right?
Do you want a meme coin?
Do you want to do slots machines?
Do you want to play cards, right? Like they’re all like different ways of gambling.
And I think if we’re going in that gambling super cycle, like you want kind of exposure to every game in the casino.
Right. Yeah. I mean this is why I see Pum Fun winning on the long term.
It’s why – I mean like anybody who’s making something that you can speculate on and it has the volume and has the marketing understand that, you know, hey, you have to come out here.
You have to hit the dopamine, you have to make something that somebody knows they can either win big or lose on is going to – is only going to grow.
We’re just seeing that sector seem to become more and more adopted across the board.
And I think Polymarket and Kalshi also understand that from like a prediction market space of like anything should be able to be speculated on in any way.
And we’re just seeing different asset classes with different methodologies of getting speculation.
And so it’s either going to be the role, it’s going to be the early asset or long tail asset creation model, which Pum Fun has, the binary model, which again Polymarket has.
And then I’m sure at some point there will be a new type of market that we see come out that gets mass adoption.
Also like gotchas in there, right?
Because I think gotchas like – I think the difference between let’s say the previous two and got – like the thing I find interesting about the gotcha mechanics is that for me it’s like very casual gambling, right?
The thing with meme coins and even like prediction markets is that you have to be like glued to your screen.
And if you miss – even if you miss it for like a second, you could – that’s the difference between like losing everything.
Well, there’s skill. There’s skill in those. There’s no skill in like that. You’re just clicking a button and hoping on, you know, VFR.
Right. But that’s also, right, like casual gaming, right?
And so it’s like, all right, cool. I feel like taking a gamble right now and I want that dopamine hit in the next five minutes.
Cool. Take a spin. If I win, I win. If I lose, I don’t lose like all that much comparatively speaking.
And so, yeah, like there – again, like there’s a million ways, a million different like gaming genres, sub-genres.
And I think it’s like the same thing, you know, we’ve seen that with gambling on – even on a casino floor, right?
There’s slots. There’s high-limit slots. There’s table games. There’s, you know, roulette, poker games, all this stuff, right?
So it’s the same type of stuff.
Yep. I totally understand and totally agree.
Look, coming up on the end of the show here, I do want to hop into the NFT landscape.
As I just mentioned, floor on Punk sitting around 29 ETH.
But some other notable ones, Pudgy Penguins continues to kind of edge lower.
We saw them at a 4 ETH floor for the last few weeks.
Now they’re edging towards 3.65.
FortiPiat Club doing the same thing, 6.70 ETH floor.
I was just scrolling through this.
And I keep coming back to this idea of identifying these older assets that in a NFT, true NFT bull market, where older assets that might have been forgotten about come back, are their deals out there.
And this had me looking at Damien Hirst, the currency, currently sitting at 0.6 ETH floor.
Chromie Squiggles sitting at 2.19 ETH floor.
Vee Friends, Gary Vee has been super active on the timeline way back into crypto.
Again, those sitting at 1.3 ETH floor.
I’ve been looking for deals. I think I’ve observed one or two out there that have me kind of debating one of them in the photography space.
The other, let me see, the other one.
And just the straight-up art space.
I think it’s going to happen.
I think we are going to start to see people start to pick up a lot of these assets.
And while it might not be the true return where we see these go to all-new, all-time highs, I do think we’re at a low point for, okay, we have the first bear market really come after NFTs.
The assets that are worthless, they’re at zero and are never going to come back.
The assets that are going to have some demand.
And I think the mechanic or the behavioral purchasing that you want to see is, I went and made money on chain.
Now I want to go buy the digital flex to represent my win.
What will those assets be?
And even if they don’t go to all-time high, on that next cycle, when people make their money, they will most likely be the people that were like, I always wanted a Chromies Squiggle. I know what they represent.
They have traditional art world adoption.
I want to have one too because it’s in the MoMA.
I think Chromies are an interesting buy here.
I’m curious, do you have a take on anything in the NFT world?
From like, it’s just like, hey, these are probably going to get some more attention as it heats up.
Yeah, I mean, I don’t think my stance has changed on that, right?
Like, I think CryptoPunks and Chromies Squiggles and more CryptoPunks than anything else.
It’s like the only, in my opinion, I know in crypto people throw around what’s a blue chip, what’s like higher tier or whatever.
Like, to me, CryptoPunks are the only blue chip asset in the NFT space.
You know, like, I think if you want to be long NFTs, CryptoPunks are the number one way to do it.
And, yeah, I think that’s not to say that there’s other places to make money.
But, like, you know, I think my CryptoPunks bag and my Chromies Squiggle bag are my two biggest collections that I have NFT exposure in.
And, yeah, I just, you know, it’s like I’m not, I guess, like, to me, I’m just not necessarily interested unless, like, again, unless maybe the narrative changes around something of, like, buying an older NFT collection just for the sake of buying it, just because I think other people will buy it.
I think that, bless you, I think that CryptoPunks are there.
But, you know, in terms of, like, when people want to display that wealth, right?
Right. Right. I think at the highest levels, when people want to take profits, CryptoPunks are aware of that, right?
And so, yeah, I mean, I guess like I haven’t really looked, I’ve been looking more at like new NFT projects.
I think like one of the things, yeah, like there’s definitely gonna be money made in some of these older ones, but like, you know, a lot of these new NFT projects are the ones where, like, it’s like in crypto, right?
Like every cycle has new winners and you just, what you have to do is identify whatever those new winners are pretty early, because that’s not to say that the other ones won’t go up, but the ones that will outperform the most are the ones that are new paradigms, right?
Which is why like I found Quotron is really interesting.
It’s a new paradigm, you know, like, you know, holding an NFT and getting paid to hold that NFT is like, we’ve never seen that before.
So that to me is like super interesting. Well, look, I’m super bullish on Quotrons.
Obviously, I’ve been very public about this.
I hold, what, 13, 14, 15, something like that.
Currently, it’s a big bag.
Floor is $10,000 almost, $9,000, somewhere in that range.
We see more holders, more alignment, it seems, between Quotrons, Inc. and Kraken, which makes this NASDAQ investment so interesting to me.
Look, I, for any of the Quotron holders that are watching right now, my expectations, you know, my personal, just from like reading the tea leaves, being somebody who minted Bored Ape Yacht Club, somebody who’s been an early adopter, a title that I like to hold on.
I really do believe we’re about to see a meta come out for yield producing and revenue capturing NFTs that are part of an ecosystem.
I do believe that we’re probably going to see others hop on, like, and I think it’s a good thing, right, to be like the early leader in a meta.
But I cannot under-emphasize the fact that we have multi-billion dollar names, huge companies, huge traditional finance, all kind of in the same ecosystem and aligned.
And I think that is where the question that has come and the text that has come of, Hunter, you know, you’re up so big, why don’t you take some profit?
Why don’t you, you know, take some off the top here?
Is that, well, I don’t think we’ve really even seen the party start here when you have a NASDAQ investment to crack in, who’s about to launch a chain that has their own decentralized exchange, perp exchange, and obviously is going to make a splash with something at some point here.
It should get interesting. So I’m very excited.
Yeah, agreed. So we’ll see. We’ll see what happens.
We’ll see.
G, anything else you want to go over here this morning?
Like I said, I think there’s some buying opportunities.
Crypto’s beat up a bit. CPI is going to be the one, I think, anchor in the stand for anybody trying to get stuff moving over the next 24 hours.
Any tips for CPI on how to play it?
Expectations?
No, I think that, you know, if it comes in hot, it’s not good for rate cuts immediately.
It comes in light, good, and don’t need to overthink it.
Yeah. But, well, yeah.
I believe, again, I think there’s some concern.
We saw a lot of people taking full port sell positions on FOMO and pump over the last 24 hours.
Look, cash is king.
Spot is king. If you’re in a risky asset to overexpose, it never hurts to have that as USDC in the wallet.
But to anybody who’s listening, again, if you have questions, topics, guests you want to see on the show, let us know.
We’ll be back on Tuesday, 1030 a.m.
I believe Cimarron from the Say and Monaco Foundation will be joining us.
Maybe Thursday we’ll get on Good Alexander.
We’ll get on another guest.
We’ll be returning to the guest episodes next week.
So looking forward to that. As always, thank you for tuning in.
And we’ll catch you on the next one.
Cheers, guys.