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BTC holds above support, Stock rout continues, Bond yields Soar
Recorded: April 9, 2025 Duration: 0:55:52Space Recording
Short Summary
In a volatile market marked by geopolitical tensions and significant stock market fluctuations, discussions reveal a growing trend of crypto as a safe haven, with Bitcoin being viewed as a potential hedge. Notable partnerships, such as Ripple's acquisition of Hidden Road, signal strategic growth in the crypto space, while the community emphasizes the importance of mental health amidst market chaos.
Full Transcription
Good morning. Good morning GM, GM everyone and welcome to another episode of Homo Hour.
Today is Wednesday, April 9th, 25.
Folks, yesterday we said it was going to be Turnaround Tuesday.
In fact, it was.
It was a historic turnaround Tuesday, the biggest intraday turnaround in stock market history.
But it went the wrong way.
And now China is clapping back on tariffs along with the European Union.
It felt like the sky was falling last night, this morning.
And the question is, can we even turn this back around anytime soon?
Or are we in for a lot more pain?
We're going to break it all down on today's show.
No Farouk, he's still at Blockchain Week.
Manda will be joining us very likely here in just a few minutes.
But while we wait, we still have Logan on with us live from Peru.
Logan, GM, how are you doing?
Hey, good morning, Tyler.
I'm doing quite well, despite the market antics.
Just took a couple days off from my job duties to enjoy Peru.
And yeah, I'm feeling pretty good.
I actually feel rather refreshed.
I know it might seem crazy that that's even possible.
But market aside, I'm doing pretty well.
Well, you picked a few good days to do that.
That's true.
Quick, serious recommendation.
And folks, if you're on the timeline and you're doom scrolling and you see all this doom porn, it is healthy to take a break.
Put the phone down.
Go outside.
Normal people outside of CT aren't running around.
They're hair on fire.
So I think that's always a good reality check. So what, what were you doing in Peru?
Well, my fiance's family came in, she's here for a clinical rotation for
physician assistant schools. Her family came in. So we were just showing them around yesterday.
I went a sand boarding, which is like snowboarding down a sand dune. I've never snowboarded before.
Obviously I've never sand boarded. So Obviously, I've never sandboarded.
So yeah, just taking in some of the stuff that we don't have the opportunity to take advantage of where I live in rural PA and enjoying it. And as you noted, being away from the screens,
it's been like four days now since I opened my laptop, more or less. It doesn't feel quite as
bad when you just close it. it doesn't feel it does not feel
like chicken little world is you know sky is falling um out there of course as soon as you
open up the laptop things change quite dramatically last night was the most the sky is falling I think
I've seen in quite some time on X and this is bigger than just CT this is like trad fi
X as well we'll get into it here
in a minute. Before we do that, though, Logie, I think you also have a bit of a
crypto solves this anecdote from Peru. Yeah. Tell us about that.
Yeah. So, man, I was trying to get some cash out for this excursion yesterday. And just the, my gosh, the difficulty in getting funds into my hand from my bank account here, into my hand into Peruvian Solace to be able to hand over to the folks to go sandboarding.
I was standing in line. I had to walk from Western Union to Western Union to other Western Union to another place, do this thing, do that thing.
It took me like five miles of walking and two hours of, you know, just kind of waiting in lines and stuff.
And the entire time I was thinking, man, crypto really does fix this.
If I could just send some USDC to these folks.
And the issue is they do have they have like things like Venmo and stuff, but I need a Peruvian bank account to use the ones that they're using. It's not as simple as
just like no intermediary, let me send some USDC to this gentleman's Ethereum address. So
yeah, it was one of those days that there are, it doesn't feel like there are too many of them,
Tyler, at least not right now, but it's one of those days where you actually do step back and you're like,
all right, you know what?
Crypto makes a little bit of sense, at least a little bit of sense.
Well, we love that takeaway.
Live from Peru while you were off from the screens.
Mando is on with us.
Mando, big day.
Jim, how are you doing?
Yeah, huge day.
I'm doing okay.
I'm doing okay.
Busy, but good busy.
Market seems to be bouncing back slightly, I guess.
It definitely doesn't feel like we're going to zero.
I mean, all the stuff that I mentioned yesterday
has kind of just gotten worse, I would say, in macro.
you know 10-year bond yields went even higher stocks went lower um
10-year bond yields went even higher.
Stocks went lower.
you have the rhetoric increasing from both sides interestingly like there's been certain rhetoric
at least over the last few hours which points like more military-based i would say like there
was a comment from peter hexa saying we're going to repatriate the Panama Canal.
Remember, that is owned by a Hong Kong billionaire who had just sold it to BlackRock,
but China was going to block that sale.
So I don't know what that means.
And then similarly, China just issued a travel warning for its citizens going to the US, which you would normally do in a time
of like, something's about to go down.
So I don't love those two headlines.
And I don't love the increase in rhetoric on the defense and side.
But markets are bouncing a little bit.
I think people are still kind of wondering what's going to happen here.
Like, does Bitcoin feel like an okay hedge suddenly now again to all of this?
Even for people from all over the world like i think people this isn't this is now affecting a lot of different people and i think people are wondering
where to put their money to put it in chinese yuan should they put it in yen should they put
it in euros even dollars and i think a few people decided hey actually i think bitcoin might be the
one just to hold over this period.
So I put out a tweet before we went live.
I kind of felt like Bitcoin was it's held the 76 and a half K level through some wild macro stuff here.
Like and I just get the feeling it could pop.
I really do.
You're already seeing money printing kind of being announced.
I think, sorry, some Japan said they might basically do helicopter money.
China's, the only way China can deal with this is by massive stimulus.
by massive stimulus.
And then there's some talk about the Fed intervening,
but not traditional QE and not lowering interest rates.
So it's like swap lines, making sure banks are well-funded.
We may see a headline around that, I feel.
Well, I want to go into all all this here in a bit more detail.
Before we do that, I mean, thanks for teeing up our full market report there.
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All right.
Well, Mando, I know you kind of already started
your market report there,
but let's get right deeper into it.
Yeah.
Who is the man, macro daddy of the land?
Can you dig it?
Yes, I guess I did kind of already get into it.
Sorry if I jumped the gun there.
But yeah, my general view here is that Bitcoin may bounce,
but this is not getting better.
Like if people thought this was going to be resolved,
this doesn't feel like it's going to get better,
at least between China and the US. In fact fact it seems to be getting worse by the hour um and as we said yesterday there's a lot of ways that these
two people can hurt each other and they're both kind of strong men who i don't necessarily think
one of either of them wants to back down um Now, the U.S. obviously started
almost like a trade war with everyone at the same time.
So you could see some better headlines
over like deals with Japan or deals with South Korea
or deals with Australia, U.K., like easier deals.
These things do take a little bit of time, though.
Like it's not like the U.K. has been waiting on a trade deal with the US since Brexit.
It's not like, oh, yeah, deal done.
These things can take a long time often.
So let's see.
And yeah, particularly about the EU.
The EU does not move quickly.
And they've said they're going to do retaliatory tariffs as well.
So I don't know if I was Trump or the Trump team here,
because I think there's some internal division already starting to show here.
Like it might make sense to indicate, you know,
it might make sense to indicate you may be willing to do some deals
with more allied partners, let's say.
And I think that is a headline where probably if it says
U.S. set to announce deal with U.K.,
or set to announce deal with Japan, I think the market would rally pretty hard on something like that just to,
because it signals that, you know,
they're already in the deal making sort of phase of this.
But I don't know when that headline is going to come.
I think the bullish thing for Bitcoin,
which I've said for the last few days,
and obviously it's gone lower even on the last few days, is that we're about to see unbelievable amounts of money printing.
And when it stabilizes, I think Bitcoin really pops because of that.
But you just don't know the headline.
Like if China invades Taiwan, that's not a great headline.
That's really not a great headline um that's really not a good headline it's uh and this
you know this feels like it's going not terribly that way like um you know maybe north korea starts
to get involved too like that's like a china proxy and and uh has been involved in some of
this stuff before like north korea versus south South Korea. Maybe that's flares up.
This is not just we're going to strong arm China.
They have a lot of different things that they can do, I think.
And that's not like saying that they are stronger than the US.
I'm just saying that there is some stuff that could go down here
if this isn't resolved.
So I think you have to just be aware that if you're long, you're praying
there's no more crazy headlines and there's some loose level potentially of resolution,
at least with allies. But over the next three to six months, I think this is a very good buying
level for Bitcoin. That's my general view um
because i think money printing in this world is about to go wild and i also think there's a lot of questions about reserve currencies like what to own and i think uh i think bitcoin does well
in that environment so i i can never predict what's gonna happen over the next 24 hours
or week at the moment because it's just crazy but um i do think this is a good buying
zone here for bitcoin i i had that same read um no idea where the bottom is it could be back at
72k maybe it goes lower like kbn it's been calling for 60s maybe 50s but if you are dcaing in it does feel like a pretty decent level here and i don't
know i think this has kind of been mocked a little bit from the bitcoin just trades with traditional
markets but it does feel relatively strong to me like it's down nine percent on the week
like the i think the mag7 is down something like 15%
to 17%.
Definitely strong.
Bitcoin has really outperformed here.
You have to understand that this is
a classic
case of a correlation of one
sell-off. By that, what I mean is every
single market is selling
off. Oil just went below
60. Stocks are selling off. Bonds are selling off oil just went below 60 uh stocks are selling off bonds are selling off
right so you have and even oil even gold sold off for a little bit right like yeah you have
correlation of one sell-off where everything's going and i think um that is that will affect
bitcoin but but a lot of the stuff that's happening here is kind of bullish, I would say, for Bitcoin, provided that there's no like World War III.
And that's the one kind of uncertainty for me.
So, yeah, I think DCA or have a long term view here.
I'm not saying that Bitcoin can't go lower.
I just feel like this is a good a good
point for it here this this 76 and a half k level is held through a lot here and um something would
have to really go wrong in my opinion now or yeah maybe we had some crazy headline you know like oh ship seen off taiwan like oh god and then and then and then
we could hit like 60k or or high 60s something like that but but um yeah i don't know it does
maybe we're on that trajectory i mean this is escalating rapidly i think that's one of the
the consensus takes from the chats i'm in who folks who have been following this kind of daily since
last wednesday like this china trade war it was 25 then 50 then china matches u.s comes back now
china is escalating and then now the right before the show you know that this risk warning to
travelers so certainly like that hopefully just, um, sign of escalating rhetoric rather than, than more than that. Um, certainly as an American,
uh, hope that is the case here, man. No curious for your thoughts. I mean, last night,
like I was, I was on CT on Tread fight Twitter and it really felt like the sky was falling.
I think everyone was talking about the bond market
and bonds breaking and this swap rate going incredibly,
like falling off a cliff.
I'm curious, any insight?
What the hell happened last night?
And why aren't we lower?
I thought when I was watching this all unfold,
Bitcoin was going to 75K.
I was like, we're going to open deep red tomorrow.
Yeah, I'm less worried about banks not having liquidity.
In fact, I kind of see that as semi-bullish
because I think the Fed would just step in and provide that.
I'm more worried about sovereign bond market.
So if that figure goes to like 7% on the 10 year
or on the 30 year, like that is not a great scenario.
And you could see various countries defaulting
and you could see the US even facing real issues
facing real issues with its own deficits, right?
with its own deficits, right?
I don't know if that's going to happen or not.
It feels as though I wouldn't rule it out.
I wouldn't rule out that is also like a big worry
if it keeps on going.
China's got $750 billion of treasuries.
It can sell.
There were some reports that they were selling yesterday,
but there was also some reports this was actually like a blowing up
of a basis trade, which is like unwound between futures and cash.
So if it's that and you've still got that China can sell 750 billion,
like that's not a great headline either.
So yeah, I'm not sure on that one.
I'm not sure on that one.
Like that's the other, if 10-year goes to 6% plus here,
that would really worry me.
Definitely one to be watching there and Cautious Hub. I think
something that stood out to me was some of the
U.S. leadership rhetoric
coming out this morning.
Trump's all over the place. He's saying, pass the
tax bill now.
Our country will boom.
It feels a little out of left field
and not the right. Be cool.
Be cool.
Be cool, everyone.
We're going to be bigger than ever here in just a few days.
The problem, of course, everyone from CT knows,
the last time Trump told us to buy something, it was Ethereum,
and it went on to fall 50% in a matter of a few weeks.
So we are a bit cautious when someone with the last name Trump
tells us to buy an asset.
This coming out and saying for the next four years, it's Main Street's turn.
I mean, I've been a Bessette fan, spoken highly of him.
This comment feels a little out of pocket.
I'm not really sure what it means.
And I think there's a lot of evidence that the tariffs would impact Main Street, perhaps even more so.
I think we're winging it. I genuinely do. I think they're just kind of
seeing what happens and then the narrative can kind of shift. I don't
think it was really pitched that Trump wasn't going to
be good for the stock market.
I think this has just kind of become the pitch now,
which is like these are more populist-style policies,
which could really hurt,
but they'll be good for us in the medium term.
I think a lot of that is just political talk,
and that's not like being anti-Trump or anything.
I just think that narratives can shift,
and they'll own it,
and they're always going
to spin it is like a really good thing that's just that's just politics yeah and at the same time i
think more and more folks are starting to call it like one of the worst policy mistakes in century
effectively yeah i mean definitely not i mean i think we called it on the show even at the time
like it's uh i think i think the the tariff stuff the way it was done is maybe not how i would done
it but and again i just don't i've i've read some commentary more recently which has been like oh
you know it was meant to this has now just become like a china uh fight and i i actually
thought that that from the start was kind of what trump would do but but he's also just kind of
even the comments yesterday and if you saw it was like everyone's kissing my ass to do a deal like
yeah it's not great diplomacy at the same time i would say like. If he had a lot of friends on his side at this stage,
I think his position would be stronger.
But what I think people are reading through
is that maybe this is hurting US dollar power.
And the US is obviously the strongest country in the world
and all that.
But part of the commentary around the rates going wider
is that people are a little bit more like, like well maybe people will run into the hands of china and something like this if this is
kind of how your friends kind of get treated so i think if i was in the administration right now
i would work out how your friends are and do deals with them like it's a very simple strategy for me right now. If this is about China, make it about China.
I think there is some sign that that's what they might do.
Yeah.
I think that would be the smartest move.
So we will see.
I mean, Besant, I think, is taking more of a leadership role.
He's driving the negotiations.
I think it's clear that there are some negotiations happening.
Trump's lack of diplomacy, not the best.
Like if we're going into a trade war with China,
who has perhaps even, you could argue, an upper hand,
we probably want some allies and not just to piss everyone off.
That's what I mean.
I don't even think you can't,
it's not like you don't have to be a strong man.
It's just that I think it's gotten to the point where it's like,
you have to drive a vessel.
Yeah.
And I think that's like, you know,
the Europeans, although they're weak,
they might not respond well to that.
And I think some of the other countries might not either.
So like, as as i said like domestic
politics is important for for politicians from those countries too do you know uh so if he's
just gonna like mock people as they if they need to make deals and then that's and to be clear some
of the countries have trade surpluses i've said this a few times like you could do with a deal
with the uk like that the uk has a trade surplus Like you could do with a deal with the UK like that.
UK has a trade surplus. Australia has a trade surplus with the U S like you
should just do a deal. And then, and then it's like, okay, well,
now we kind of starting to guess who our friends are.
One thing that's becoming less of a guess is like the recession odds.
I think Jamie Dimon said it's favored at this point.
Poly markets got it favored 65% U.S. recession in 2025.
And that means negative GDP two quarters in a row.
So a worse Q2 certainly seems like it is pretty much a reality at this point.
Because even the negotiations that we're talking about as a positive case are still going to take months to play out.
We're talking about April, May, June.
I think Besson said as much.
This isn't going to be done next week.
Yeah, yeah.
That's what I was trying to say before.
These deals can take months. the most difficult deals possibly to do because they often involve agricultural bodies and
industrial bodies also to agree in unions and it's like they can be really really long like
who deals um or just general trade deals between countries like nafta took years um any trade deal
can take a long time so if it's if it's like hey we we were a low
tariffs for a trade deal those things can take months just even for individual countries so
but but i think that's why i was trying to say like with the uk and australia you can just drop
it like they've got they've got trade surplus with you you know they're they they import more than you
you do so there's no need to do it.
Let's start checking off some of the names in the 70
country list.
Logan, I see you're nodding.
I want to give you a chance to jump in
on the conversation.
Just reactions to how this has all played out
slash escalated.
Yeah.
Not too much different to add, unfortunately,
from the conversations we've had over the course of the last week.
Mando said it feels like they're winging it.
That's kind of where I'm at.
The headlines seem to contradict themselves oftentimes.
The commentary contradicts itself.
Some of the theses that we initially heard, right, like, hey,
we want to get the 10-year down.
Like, maybe it's too early to say invalidated, but it's not working right now. If that was actually the thing we're looking to do.
It's just, I don't know. It's tough. It's tough to be in this position and really say too much.
And it's difficult and painful to sit by as someone, you know, who of course,
alongside the rest of you is losing money is uncertain. So difficult
time. The comment from Besant this morning kind of irked me more so than maybe any of the others.
I just throw Trump's out because whatever, they're all ridiculous. But like the Main Street versus
Wall Street thing, it just it seems so tone deaf, like at least from what I'm reading, I just saw a Minnesota, uh, like a Minneapolis Tribune article about how a small business just shut down
because they're not going to, they can't pay the tariffs.
That's main street right there. You're talking about,
I'm seeing lots and lots of those stories and Ackman tweeted about some coffee
company, right? Same sort of thing.
Where is main street winning at the stock market's going down tremendously and
the cost of goods is going up tremendously? I don't know.
So yeah,
Phil a little tone deaf and he, he had been better than that.
So that was a slip up. If they're going to keep going that route, like, okay,
tell us more. And like a tax cut, isn't going to help that either. Right.
So it's unclear exactly what the
solution is other than trying to get these trade deals or ackman's uh idea of 90-day postponement
to at least buy these businesses some time you know i don't know if it solves the issue or not
um logey you're a somewhat active trader are are you looking at any DCAs?
Does anything look attractive to you at any of these levels?
I'm just buying Bitcoin weekly.
I mean, nothing like crazy.
You know, like I'm not throwing like heavy, heavy stacks at it,
but just continued dollar cost average like I've done for a really, really long time.
It feels like the most comfortable thing.
And as Mando noted, you know, I'm an even worse predictor of 24 hours a week. No, it's not my
thing. It's not going to be my strong suit. So I'm just going to, I'm going to add cash to what
I feel is the best long-term bet here. And to me, that's, you know, quite obviously Bitcoin,
not financial advice, but you know, that's know, that's what I'm buying.
Well, that seems a decent strategy. Hype. I gotta say like hype is strong.
It's the top all mover today. We had a fairly,
I had a bit of a deeper conversation with OSF about it yesterday.
He shared his thoughts. He leans a little bit more bearish uh on hype specifically but it's now back so it hit that ten dollar level i think it went into the
nines yeah like on sunday night now back effectively at the level of the exploit so it's back to 13.
so this is an interesting one i have not pulled the trigger back in yet
um so this is an interesting one i have not pulled the trigger back in yet
but it is clearly showing some strength here
we talk about farcoin every day i don't know that we need to really
go deep into it today it's at 576 million
which is just wild again i don't know if you saw this while you're away from
the screens logi but basically amidst the sky falling, crypto sell-offs Sunday
night, Black Monday, turnaround Tuesday, then the bond market's breaking last night, this token is
holding incredibly strong. Really never went below 500. Yeah. Yeah, To me, this is a little bit of that second leg of its potential narrative.
Everything else is complete garbage. Then he got kind of fart coin. It's like everything,
nothing matters, fart coin. That's...
A little bit of the financial nihilism.
Yeah.
Take there. I do think that is kind of a part of it.
It's like,
if the sky's falling,
all of these,
all the good tokens are going down.
Why not just throw it into far coin?
I mean,
ETH has been,
ETH was at 1390 yesterday.
That was the 13 handle was,
was tough to see. Is is there is there a price
or you're thinking about switching that dca over from from bitcoin into e
is that a thousand gosh it's been that price for a while it feels like uh and i've just never done
it thankfully um all these prices to me for Ethereum are sort of jarring.
You know, I don't have the bulk of my crypto experience, although I did participate a little
bit in 2017, 2018 and stuff, the bulk of it comes pre-2020, 2021. And so my anchoring for price
points for Ethereum, there's not much of a history in context for me below
like $1,500. You know what I mean? So all of this stuff is quite jarring.
I still just, it is the rails for so much stuff. You know, I mean, if things really play out the
way that I think a lot of people want it to play out in crypto, which is tons of
adoption, millions and, you know, maybe billions of people using crypto. Like, Ethereum almost has
to play a role in that, it feels like. Feels like. I'm not suggesting it really will, but it does.
It's difficult for me to see a world in which there are billions of users participating in crypto and ethereum is not
one of those uh like key contributors but of course that doesn't mean uh that it the price
has to go up so i guess it it is a tough one i i am aligned with you conceptually i just like
if crypto wins ethereum wins or i think it's it's, it's a, it's in the right after Bitcoin,
it's the next part of the conversation.
And from a utility standpoint, it enables more, right?
But my God, it's at 1490.
Like this is,
this is barely above the levels when I started buying in December,
2020, I got in around a thousand,000 to $1,200.
And I mean, it was $4,000 December 16th, 2024.
That is jarring.
It's down from $4,000 to $1,400.
I mean, there are shit coins down less than that in that time frame.
So I don't mean to harp on this.
Everyone knows ETH is down bad.
There has to be a level where this flips to a buy.
I don't think it's going to zero.
Let's move on.
I think there is another hot token, Logie.
We were chatting a little bit about this before the show.
Saw a tweet from
DGN Ape.
Some may know him from
he's a bit of a trader.
He's deep in
fantasy top. He was talking
about this prompt token.
Apparently
prompt is
this is the Wayfinder team token.
It is trading
on a pre-market somewhere i don't know
that this has been broadcasted very widely uh why don't you tell us a little bit about what you had
a chance to look into here yeah so what you're seeing if you're taking a look at the screen you
see the djna tweets uh he points to uh they point to a pre-market from Mexi, which does not have a ton of volume, but yeah, about $45,000 worth of 24-hour volume.
But it's similar in nature to the pre-markets we've seen from Whales app and others previously.
So not a ton of liquidity, not a ton of movement, but there is a price point at which we can at least start to discuss for prompt.
And based on what we know from the OKEx announcement as well,
a $1 billion total token supply.
So you see $0.65 was the time of his tweet.
I believe before the show, Tyler, I sent it to you,
it might have been closer to $0.08.
Sorry, not $0.65, $0.06.
Yeah, $0.06.
$0.05.
It was closer to $0.08 when I sent it to you,
which would be about an $80 million FDV, if I'm doing that math right. Which, of course, based on our conversations
and disclaimer, I'm a prime casher and I'm expecting to have some sort of airdrop here.
Feels low or lower than maybe I was hoping or envisioning, but we'll have to,
we'll have to wait and see what the market truly brings us.
Unfortunately. And I don't think Kalos and, you know,
based on that conversation we had last week,
which we encourage people to watch to get a better sense of what this
actually is. They just seem like builders, man. They, you know,
they're just like, this is revolutionary. This is going to be impactful.
We don't really give a shit about the market type thing. It kind of felt like garga ape-esque in that way to me which which i like
i like to hear it's just it is rather unfortunate that there were very much pockets of time in which
this could have flown out you know here's the thing this is kind of at the mercy of others. If it opens at $70 million FDV,
I'm buying probably a lot.
I got,
this seems to be the best crypto AI product that we've had to date.
And if it,
if the best crypto AI product we have to date at 70 million is a bad trade, then I'm just going to have to eat that.
And Logan, OSF, actually, he pulled me up a little bit.
We talked about the AI trade for about 10, 15 minutes.
So he's been DC-ing back in pretty much with the core thesis that AI is, of course, the biggest theme in the world.
It's coming back.
There's going to be another crypto AI meta.
It's just a matter of trying to predict who the winners are going to be.
He's got his chips on AI-16Z.
I think putting your chips on Wayfinder and Prompt is fine,
or better than fine.
I think it would be one of my top picks. But at the same time, I guess you can make an argument that if prompt is so good,
why isn't prime trading higher? So prime at a hundred million market cap, 350 million FTV.
Like it can, can prompt flip prime? Why wouldn't it? I don't, it's difficult for me to see a world where it doesn't.
Um, that's a little shocking to me. Of course, you know, this is the way that I,
uh, am hopefully earning prompt is via the cashing of prime, you know, so I've been buying
and or had prime Jesus in the $25 range. It feels bad to kind of look at this after that.
in the $25 range.
Feels bad to kind of look at this after that.
Yeah, yeah.
I don't know stuff.
To be quite transparent,
I have not looked at the price of ARK, AI-16Z,
and I don't even know what are those at right now.
Are you sure you want to know?
Yeah, sure.
I don't own them, so it won't feel quite as bad.
So there's four tokens over $100 million now.
Alchemy is a very volatile one.
Some days it'll be up 30%, 40%. It'll be down 50% other days.
It's now number five.
AIXBT is six at $61 million.
ARK is, oh boy, 30.
Jesus.
I was buying that at 400
million when we thought we were starting
to turn around after the
first dips post-TrumpCoin
because
it seemed like it was going to be a winner.
Unfortunately, it has not
been a winner over the last few months.
But to me,
and let's put Four Corn aside because it honestly doesn't really belong on the
list at this point.
I think it could be the number one.
I think Prompt could be number one on this list.
I definitely think it could be.
I'm certainly rooting for that.
Even what we've seen in just the the small samples of um early access right
whether you saw it on the stream here you've been following their twitter account to see those like
in terms of power and advancement and realness i don't know what the best way to characterize it
is really but like this is something a bit different than AI16Z.
And that's not to knock any of those,
but it's different than those things.
And it's certainly different from many of the social agents,
which is what Adrian had called them on the stream we had.
It's certainly different from many of the social agents
we saw that were just replying to Twitter,
Twitter, you know, zero bro, things like that.
you know, Zero Bro, things like that,
were just replying to tweets.
So it would, it would not shock me to see it really actually come out at 70 million.
It would be well below my initial expectations, but just this market, I mean, come on, man.
It's, it's, it's tough.
Like, what are you going to do when stocks are falling like 15, 20% over the course
of a couple of days or, you know, or more like it doesn't, you know, the brand new AI token
deserve to be more than 70 million? Like maybe not, uh, whether that, you know, whether that's
fair or not. So. I mean, if you were a believer, that could, it could be the best launch scenario.
Yeah, it's true. I mean, everyone wants like the big airdrop, right?
But I feel like that also changes your mindset.
Like when a token opens up high and you get a big airdrop,
you're incentivized to sell.
And then you're almost kind of rooting for it to go down.
Because you want your sell to have been the right decision.
And you're a bit conflicted versus the tokens that come out lower.
And then everyone gets to rally around it as it continues to,
to march up to a more true value and more of the true values of any of these
things. It is a tricky launch market for sure. But, but I think this,
I don't know that this is a team is going to try to time it right.
Like clearly if that's all they cared about,
they would have forced the launch back into the bubble and it probably would
have gone straight to a billion.
Yeah. You would. Yeah. You wouldn't have asked, you know,
to go way, way back here.
They asked the community when the community wanted to launch the token,
when the TG there was a, there was a Dow vote for this.
And unfortunately,
what they had to extend a week or two to make sure things were right, which, you know, stinks because it didn't uphold the vote, but also to ensures that there was no complete catastrophe.
So I'm okay with that as someone who's expecting, you know, some level of airdrop here. But they put it in the community's hands.
This wasn't a, we're going to rush this thing out
to enrich ourselves or anything like that.
We'll certainly see.
What also caught my interest in that DGN8 tweet,
I'm not going to go back to it,
he said we'll find out tomorrow.
I don't know anything about TGE coming tomorrow,
folks.
I don't believe that has been announced in any capacity,
but that would be a fun Thursday surprise.
Well,
the settlement for the pre-market on Mexi says something like,
yes,
April 10th.
And then I don't know.
I don't want to say confidently because I've X'd out of the OKX thing.
There was an announcement, of course,'ve X out of the OKX thing.
There was an announcement, of course, that this will trade on OKX.
That was retweeted. Yeah, right there.
I don't want to say confidently that it said tomorrow, but I believe like the trading starts soon-ish as well.
So that's at least a good place to start if you wanted to get some more information.
We know it's soon. We know it's sometime in the next seven days.
So tomorrow, very possible. We will certainly be looking for it. I want to go around the horn
on another couple of quick stories on things that could be a buy along this line. So you may
have missed this, Logie, or maybe you caught up. Blockbuster acquisition yesterday, Ripple acquired
Hidden Road for $1.25 billion. Hidden Road, one of the bigger institutional payment clearinghouses,
they cleared $3 trillion a year in transactions.
So Ripple kind of becoming a force here.
And that inspired Standard Chartered to raise their price targets.
So they're now projecting that XRP could jump 200% by the end of this year
with a $12.50 price target by, by 2028.
That is a six X more.
It's like a dollar 75.
It's probably closer to like an eight X from here.
It's $1.80.
Curious.
Any reactions or buying ripple XRP actually ever crossed your mind?
And second part,
should it be on your mind?
It's crossed my mind from time to time and but not you know not for any real like fundamental reasons you know more so like narrative reasons bull market reasons those types of things um
i think this is i think it's interesting mainly because if you do start to see a narrative and sentiment shift,
and you do get the people on Main Street, you get the more casual crypto investor feeling like
crypto could go up soon, which they probably don't feel right now. Ripple's one of the best
bets in those instances, right? Those scenarios, like it goes up
when people are feeling really, really bullish
and crypto starts to gain more attention overall.
That's where it's been like a really strong,
it's not like a super strong thesis or anything, right?
It's like largely anecdotal that I'm providing evidence for,
but why not?
I think about it, Yeah. But otherwise-
Is there a more mainstream crypto token than Ripple?
I don't think so. That's what I mean.
Ripple is mainstream.
Yeah. If people are starting to feel like this is going to happen, there's going to be,
I don't know, crypto advancement. I don't even know what the right way to say it is because it doesn't feel like it's coming that's that's the second
part here where it's just one of the reasons i'm not i'm not too interested in buying anytime soon
is like the turnaround and the sentiment shift that i would think precedes a ripple rush upwards
doesn't feel like it's coming anytime soon that That's, that's what I'm getting at,
I guess.
That's fair.
And there's probably a few other assets that might run first.
What I will say is I feel like I've never held ripple or traded it.
I think there's the criticism that was more fluff.
There wasn't a whole lot behind it.
Now there is though.
It's like,
it's like I said this yesterday,
it's almost like becoming the fake it till you make it play.
And if they have enough capital to,
to acquire these actual powerhouses,
maybe the fundamentals actually start to be there.
So that's going to be an interesting one to watch.
And the other one is Coinbase.
Coinbase is by Cantor Fitzgerald.
Howard Lutnick.
They're calling Coinbase stock overweight,
but they actually,
the headline might be interpreted the wrong way.
They're calling it a buy.
and they pointed to the relationship with circle and base is out
performance as some of the drivers.
curious to any,
any quick reactions to that.
If Coinbase feels like, like uh a buy here or not
yeah um i love coinbase the brand i'm a i'm a user um i know it gets a lot of for more active
on from sorry more active on chain participants um but i think this is one of the most important, if not the most important brand for adoption and to act as an ambassador for crypto and its best interests, not only as an ecosystem, but the best interests of its participants as well.
So I really like Coinbase, of course.
You know, I can't comment too much on the financial stuff just because I don't know them.
So I would defer to the analysts, of course. But by all means, the innovations required
to advance alongside crypto, create your own L2, stable coins, all that stuff, they've been every
step of the way. They've been right there. So I would not bet against Coinbase if you believe in
a future in crypto.
And I think many of us here, we wouldn't be here otherwise. Right. So I'm, I'm, I'm totally on board with something like this.
It's an interesting one.
I feel like my opinion changes almost by the week, by the month.
Like one of the bull cases that Canada Fitzgerald laid out is that
relationship with circle and the large fees they get.
But we also just saw circle delay their IPOs.
Yeah.
In reaction to the FUD they received when everyone found out that that
coin base makes more fees than they do.
So like that,
that fees switch might,
or that fee revenue could be going elsewhere.
I think the really difficult part about crypto stocks is they just feel like
too much.
They feel too much like proxies to crypto. Yeah. And, you know, and so like, why not just buy Bitcoin? Why not just buy whatever, you know? And I don't have a great argument for I don't I don't know what the best argument is to dissuade somebody from like, you know, of course, there's opportunity costs involved when you're buying Coinbase versus buying something else, anything else, whether it be
crypto or not. So I'm not sure what to suggest to someone if they were looking to have that
argument answered. That would be my, you know, my loan issue here. Yeah. As I'm looking at this,
it's kind of a question. So Coinbase is basically
50% off high.
So it hit 300.
It's at 150 right now.
Do you think it has
a better chance to double
and get back to all-time
higher Bitcoin?
That's like an interesting
trade.
It is.
You know what?
I have no reason.
I don't have any really
strong reason to suggest this,
but it feels like it would be easier for Coinbase. I don't have any really strong reason to suggest this, but it feels like it would be easier for Coinbase.
I don't know why.
Maybe just because the...
It's been there.
Yeah, it's been there.
And also like 150K Bitcoin just feels...
Yeah, never been there.
I mean, it just doesn't feel like it's possible.
It's hard to lay off the path.
You know what I mean?
Right now on April 9th,
amidst the tariff
trade war.
Markets melting down unless Bitcoin
really pulls through that digital
gold narrative, which we haven't seen yet. Maybe we'll have to
save that. I know our buddy Bob
Lucas had some comments. We might have to save those for tomorrow.
It's a longer conversation.
I did want to catch you up on
one big storyline that's
taken place while you're on.
We are bringing extinct animals back from the dead.
So I'm not sure if you're aware of this.
But the direwolves are returning.
Colossal Biosciences is leading the charge on this,
and they are taking extinct breeds back.
And I don't know that the full vision for this,
if it's just going to be like museums or like zoo,
like zoo museum,
a hybrid or exactly what their plans are.
Of course,
the meme corners ran with this,
which is a part of the story here.
But Romulus and Remus firstwolves in 10,000 years.
Any quick reactions?
I think this is really cool that this is an option.
There's so many second order effects.
I don't even know.
And, you know, having done this now in an administration that like, you know, hands off, no rules type thing, who the hell knows, you know,
what may come next. Uh, I saw a lot of like Jurassic Park memes alongside this.
It's non-zero. Um, it is non-zero, which is a little scary,
but I guess if I had to choose like,
if I had to choose Jurassic Park versus like major war with China,
which also, you know, who the hell knows? I think I'd probably just pick Jurassic Park versus like major war with China, which also you know, who the hell knows?
I think I'd probably just pick Jurassic Park.
I'm picking Jurassic Park 10 times out of 10.
Those are the options.
All right, folks, we went
around the horn. We covered
most of the topics. We've got one more
special topic here
to get into before we end the show. Sadly,
Mando had to run, so he won't be
here. He'll have to catch us up once this all becomes a little bit more official. But here at FOMOWire, we have a
new show partner announcement. do you sam's
that's two days in a row
i've been on this show
guys might start making it a
a normal a normal thing when people are out um so yes we do have a new show partner unfortunately
mando can't be here to announce it he's had to uh as the number one he's had to be called to the
rank so he's going out there and working away but we want to say a massive thank you to robert who
have been incredible partner for the last few years they've been amazing but we will be moving
over to yeet now you have seen there has
been no code the last few days just because there's no i can see the meme no farroke no code
no that's not the case we still do the codes we still do the stuff when farrokes away don't worry
but we're going to be changing the system we're changing a sponsor we're changing the system
there won't be a code going forward anymore we're not going to be going with that system
instead you will need to sign up to Yeet
using the referral code FOMOHOUR.
Once you go on to Yeet,
you use a profile,
and you need to do it within 24 hours,
very important,
you add FOMOHOUR as a referral code,
and you will be in the system.
That means every single day
when we do the spins,
we're doing 1,000,
sorry, not a spin anymore, excuse me,
we're going to be playing custom games
where people could win a minimum of 1, thousand up to quite a lot of money so there'll
be five across the week monday to friday and we'll be doing all these different games of people
getting them involved you'll still have to come up on stage that's how you claim the prize you
need to be on stage to do it so we're still going to continue this but we will be picking winners
from those that have the referral code that we can see in the back on Yeet. That's already linked
to FOMO Hour. We'll be doing a spinner as normal and it will go down from there. I can see people
saying there's a waiting list and various other things. Yes, it's not live yet, but we're just
making you all very aware that it will be soon when that is. Keep an eye on the Yeet Twitter,
you all very aware that it will be soon when that is keep an eye on the twitter keep an eye on mando
watch all that and make sure that you use the referral link for more from there that is where
we'll be picking the winners to bring them up on stage so you have to put in codes you have to be
doing retweets you don't have to do all this there will just be across Monday to Friday one picked
through a normal raffle type system pick them in you still have to be on
the space it's really important if you're not on the space you can't come up you can't claim your
prize bring you up do this whatever game we do from there and see how much money you win it's
really as simple as that but yeah new new sponsor new times i suppose for the first week we'll get
used to how it's going to be going we we took a while to get used to our spins on formal hour um
yeah excuse me not formal with uh with robert it took a while to get used to our spins on FOMOHOUR.
Yeah, excuse me, not FOMOHOUR, with Robert.
It took a while to get there, but we did get there in the end.
I'm sure this will be the same, and I'm sure it'll be pretty damn fun.
I've tested the website myself, and it's absolutely fantastic.
The custom games are interesting, and we'll play the trailer again at the end.
You can have a look at some of the different custom games that you have on there.
We'll be rotating them day in, day out.
So some people will play one game one day.
Some people will play a game another.
We'll have a minimum win amount that people will be able to take away at the end of it.
Even if they don't win big,
we'll have a minimum booby prize, if you will,
whatever that is, $25,500, I don't know.
But yeah, there's going to be some odds to win,
some serious cash on the line here.
Nice. Well, that is very exciting.
So I'm definitely very interested to see all these new games.
I've gotten a glimpse of a few.
There's some good ones out there.
So I think our listeners and audience are going to love it.
Do want to thank RollBit, an incredible partner.
They've been our show partner since I joined the show last May.
So very grateful for them. partner and they've been our our show partner since i joined the show last may um so uh very
grateful for them also very excited for this new partnership with you so this is going to be a fun
one for sure and sims do we know uh when we're officially kicking this off we're going to be
officially kicking this out and shit off from today right but when the the actual spins or
whatever we keep saying spins it's not
spins but you know what i mean the prizes and the giveaways will start from monday um keeping
eye on the yeet twitter and keeping eye on the form on twitter for the video going live once they
are live you know that it's live go sign up using that referral code form i was super important
that's the key to entering now.
You don't need to be putting codes
and you don't need to be doing retweets every day.
You need to be going to Yeet.
You need to be signing up with FOMO Hour.
That needs to be in the referral codes in there.
You need to put that in.
You only get to put one in.
You only get to do it once within 24 hours of making an account.
Make the account, punch that in,
and then you're going to be in the draw every single time.
But you just need to be listening to the show, obviously.
If we do your name and you're not there, you're not coming up.
Got it.
Now you know, folks.
So starting next Monday, some new games on the show.
So very exciting.
Sims, thank you for that overview.
I know we'll play the video again as we exit.
That is it.
That is going to be our show.
I want to thank our listeners as always.
I want to thank our partners.
Thank my co-host Logan.
Thanks for jumping in here live from Peru.
We will be back tomorrow at 10 a.m. Eastern.
Until then, go make it a great day.
Bye. I'm going to go. . We'll be right back.
