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Crypto Resilient, Stocks have Worst day in 5 years, China Retaliates
Recorded: April 4, 2025 Duration: 0:58:14Space Recording
Short Summary
In a turbulent market marked by a 5% drop in stocks and rising recession odds, the crypto community is witnessing a surge in meme coin interest and strategic partnerships aimed at enhancing user engagement. Notably, luxury brands are increasingly exploring crypto integration, while MemeLand's acquisition of a public company could reshape the meme coin landscape.
Full Transcription
Good morning. Good morning, GM, GM, everyone, and welcome to another episode of Homo Power. All right. April 4th, 1.5. Oops.
Tariff again is here.
Markets crashed yesterday.
It looked like we were starting to rebound.
China slaps a 34% retaliatory tariff on us.
Markets fall some more.
There's blood across all markets right now.
The question becomes, is the pain over or is it just beginning?
And is it finally crypto's chance to shine?
We're going to break it all down on today's show.
No, Mando, but we still have a full house, folks.
We've got Farouk back.
We've got Logan.
We've got stats.
What a cast.
Farouk, it's you first, GM.
How are you doing?
Live from Switzerland.
Good morning.
Guten Morgen.
Like they say in the Deutsch side of Switzerland.
I'm doing good.
Listen, I'm in the home of Ethereum, of the Solana Foundation, of Cardano, of every single
crypto company as we speak, live from Zug.
You know, that's where they're all based.
So maybe I'm going to go have a quick chat with the Ethereum Foundation about a 10 minute
walk away from me.
You know, my name does say still bullish, you know, still foolish.
That's for sure. You know, I wake up every morning in Europe and the market's pumping. I am here
making Europe great again. Every single day I woke up here, I saw 20% fart coin candle.
And then you guys wake up and somehow managed to fuck shit up. So, you know, we're going to have
to have a chat today, but I'm glad to be here. It feels good.
And I love it when you intro.
It's like, I like it.
I love the energy.
Well, I see a 20% candle on Farccoin right now.
So maybe America is pulling our own weight.
Because I called them out.
I was like, come on, America.
Come on.
Well, thank you for your service.
Rogan, live from Peru.
Folks, we are global today. This is a global show. Hey, Dan, how you doing? service. Rogan, live from Peru. Folks, we are global today.
This is a global show.
Hey, Dan, how you doing?
Hey, good morning, folks.
Doing well.
Again, another beautiful day here in Peru.
A little sweaty after the walk here because it is so hot and humid.
But otherwise, can't complain.
I'm trying not to look at the markets really at all when I got the sun shining.
So I'm doing better than I could be. We love to hear it. Folks,
staff's friend of the show, chief chart officer at MemeLand provides great commentary across markets.
Sam, how you doing? What's up, boys? I love hanging with Farouk. He's just got such good
energy. Sometimes you forget it on crypto Twitter, but when you see the dude real life, you're like,
I love this guy. And Logan,
here's actually some
alpha. Not alpha. Here's a fact. I actually
had an alt account on
Frientech, and I was one of the early buyers of Logan's
Keys. I don't think he ever even knew it.
Nice to see the guy face the face.
Yeah. Nice.
Old school.
Logan's a sleeper, you know?
He's Logan.
This is the first time I even know what he looks like
this is the first time I actually know what Logan looks like
what's up dude
hello
for real
that's so good
Sam exposing him that he doesn't watch our show
I don't
I listen
I'm like a spaces guy
I see you
folks what are we talking about on today's show Listen, I'm like a spaces guy, not a YouTube guy. You do listen. I see you. Yeah, we'll let it slide.
Folks, what are we talking about on today's show?
Tariff again.
Wrecking market.
Stocks are down.
China retaliates.
Crypto falls, but rebounds.
The 10-year sub four.
California wants an exemption.
Job report was good.
We're going to break it all down.
Talk market impact.
Polymarket recession odds are at 56%.
We're betting yes or no on that.
We're going to talk meme coins.
There's some strength out there.
There's some strength in alts, Sonic.
There's some strength in all the Fartcoin, Tickcoin, Housecoin crew right now.
And then we're going to also debrief a little bit from our interview with Wayfinder yesterday.
Man, that was quite the conversation.
And maybe talk to Sam about his recent Punk pie and how he is feeling about that.
Plus, maybe what Meme Land is cooking as well.
Before we dive in, shout out to our partners, starting with Galaxis.
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and the NBA, shaping together the future of engagement.
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stay ahead of what's next. All right. We love our partner. Shout out to them as always. No Mando
today. So I guess I will do a quick market report and then get into discussion with our crew here,
firing up the screen share for those who are in the stream. Let's take a look at the crypto board. Bitcoin,
82,700, up 1% on the day. ETH, also up a percent, 1790. So all the way down here now, 116.
That's up. That's up on the day, up 2%. So what has been happening? We had tariff again yesterday.
Stocks fell 5%. Worst day in five years.. Stocks fell 5%, worst day in five years.
If you throw out COVID, worst day in a decade. And then this morning, it looked like we were
starting to rebound. When I woke up, Bitcoin was $84,700. It looked like we were all set up for
just a fantastic Friday. And then the news comes, China is going to do a full retaliation, 34% back on U.S. goods.
That's on top of the 20% they had, so 54% tariffs live from China.
So markets did not like that.
Let's check in on where we're at.
Yeah, it looks like the Dow Jones down 3%, S&P's down 3.5%, NASDAQ's down 4%.
Jeez, Louise.
VIX is up 25%.
So volatility is at all-time highs.
Well, at least it feels like that.
Not even close.
Sorry.
VIX was like over 100 during the financial crisis.
Got it.
Okay.
So not all-time highs, but much higher than we were.
Continued at 3.9%. So the first time we've been sub four
since basically September of 2024.
So that is down quite a bit,
almost a full point now from peak.
MAG 7 index down, yeah,
in line with stocks,
so down three and a half percent here.
So a lot of red out there.
There's certainly a lot to unpack here. So a lot of red out there. There's certainly a lot to unpack here. Sam, maybe I'll
throw it to you first. Amanda was on yesterday. We had a decent conversation about the tariffs,
what's happening, perhaps our thoughts. What's your high level take? I mean, I think if all this stuff goes through, then equities have a lot lower to go because, I mean, I think the market, right?
I mean, if you look at like an Apple chart, like Apple has been built on globalization.
It's been built on cheap components, built on cheap labor.
Like that is what has built the biggest companies in America.
And right now, one of the ideas here is that because of these huge wins that American
corporates have had, American manufacturers and the manufacturing class has lost. And that is
really the J.D. Vance philosophy that I feel is getting pushed here. And if we're trying to reverse that, like perhaps a huge win for the working class for America, but a massive loss for the big
corporates. And the American stock market is the big corporate. So if that is the goal, I think
there's a lot more to go down. The question is, is that really the goal? How relentless are they
going to be? I think anyone who thought that Xi Jinping was not going to retaliate has their head in the sand.
I mean, the idea that China's, you know, Trump always says that, you know, he rules with an iron fist.
The idea that, you know, this tariff announcement that was that is pretty, you know, just pretty aggressive towards China and other countries.
The idea that he would just take it like, I mean, this is a guy who shut down his entire country for for three years during COVID.
Like he's very fine with short term pain. so anyone who thinks that eric trump tweeting you know
everyone should listen to my dad like was actually going to move xi jinping is crazy uh that at the
end of the day i think these tariffs would be terrible for both sides you know if they stay
so elevated with china and ultimately i think you're going to get resolution it's just very
hard to know what's going on i i just tweeted right now. I have a headline from yesterday about how
Trump was open to negotiations. And I have a quote from Trump today about how nothing's ever going to
change. I said here, yeah, these are two quotes. Admittedly hard to know what to think.
This is a headline yesterday where he said it. And then if you look at the next image,
he vows that nothing will ever change. So it's very hard to know the motivation here. So I think there's a lot of
potential volatility. One thing I think is most important though is crypto is holding up very well.
And I think the two bull cases on Trump and crypto are one that he clearly wants to buy a lot of
crypto. You got Lutnick, you got Loomis, you got a lot of these Bitcoin maxis kind of in very high power decision making roles.
And that has clearly played out.
Bitcoin's still up a lot since he was elected.
But the second thing is he's extremely chaotic.
And I think that there is this theory that Bitcoin's a bit of a chaos hedge.
It's a bit of a who knows what the fuck's going to happen with the US dollar hedge.
And I think you're starting to see hints of that in the way that Bitcoin's trading right now,
which has not been true in the past.
In the past, Bitcoin's traded nothing like gold.
So I think three days does not make a trend,
but I don't know.
That's a lot of rambling, Tyler.
Sorry to ramble so much.
No, that was great.
And I think I'm with you.
This is not the gold chart.
I'll have to find the gold chart here in a second.
Just Google price of gold.
You get it, I think.
B-A-R.
B-A-R is an ETF.
B-A-R is not just bar.
That's B-R-K.
That's a bar, baby.
Bar stack.
I'm sorry.
They're granite.
I'll get it here in a second, then I'll put up on the screen.
I think I'm with you in that there's just so much back and forth. He's saying so many different
things like no negotiations. No, we are open to negotiations and we're all just stuck in the mud.
If you run a business, what are you supposed to do? If you're an investor, what are you supposed
to do? That's why I think this idea that I think there's a lot more proof to be had if what I said earlier is going to happen,
that like for manufacturing to be onshore, like that's a five to 10 year CapEx commitment for
Nike. Like to say it is a better five year, like, so not only will Trump no longer, you know,
in all likelihood be president in four years, and this is all, you know, executive order. So it can all get unwound immediately.
But, you know, if you really wanted this to be something that companies would make decisions
off of, you would want it ultimately to go through Congress and have a little bit more state power,
but it can all get unwound. But also, you know, the more that he fluctuates,
just like he did with Canada, you know, a couple Canada a month ago where we saw he was hard on Canada.
And then he said, OK, we won't do it because you're adding a fentanyl czar.
That was enough to make him change his mind at that point.
If you see that type of volatile, you're not like, oh, I'm going to move my factories from Vietnam to America because five years, this is what you have to do.
So I think there's – we got someone here saying Biden did not unwind China tariffs from last year. I mean, that, that,
that's true. If these things stay on for a long time,
it's a different story. It's just at this stage right now,
it's very hard to know where we'll be in a week.
Do you think there's any chance that Congress will step in?
Because like what he's doing is I understand and I have not dug in is this
is a, he's basically using like certain emergency powers.
Yeah.
Which have only been used in a handful of situations.
Yeah.
I'm way outside my comfort zone here.
But I did see some posts yesterday that like Congress could maybe kind of like step in on tariffs.
I just don't have enough expertise on the inner workings of Washington to know.
Sure. Which just adds to the volatility, right? We don't know what Trump's real plans are. We
don't know if Congress can get these effectively repealed. We've got states like California
are asking for their own breaks. California has to be exempt from the retaliatory tariffs.
And California's got one of the biggest GDPs in the world.
So that actually is a big deal.
Did you see that Mando meme?
I haven't seen Mando's.
Yeah.
What did you say?
It's a video.
It's like California when China hits USA with reciprocal tariffs.
And then it's just John Cena speaking Chinese.
Oh, yeah. He's fucking dying, man. Like that shit. Mando is on one for sure. China hits USA with reciprocal tariffs and it's just John Cena speaking Chinese
For sure yeah that oops that shit was so funny
I don't know guys. I think I think this is you know part of the I think the best take was
Sam talking about agent of chaos, right? Like Charles chaotic
We knew chaos. I think we said on the show show, like for months, like expect just masks,
max chaos and max volatility for the beginning.
But he's also, he's, he flips easily, Sam.
Like he did it with Canada, right?
All it takes is a little call, little, you know, well, thank you, you know,
and he'll remove those.
Like as fast as he just slapped everyone with terrorists,
he'll probably remove them just as fast.
Like, for me, like, I'm down bad in spot, but I'm also not, like,
I feel like a lot of people are fearful.
Like, I'm not scared.
Like, I felt scared after FTX. I was scared for my, like, economic situation personally, right?
For my household, let's say.
Even though I have no kids,
I'm scared for my business,
but I'm not scared here, you know?
Yeah, and I think Bitcoin at 82,000,
like it's hard to be, yeah, people are,
you know, it's hard to-
I mean, people aren't alts, right?
It's like my Solana bag is down horrendously
and my Sonic isn't great.
But when I see Bitcoin holding so strong
and I feel like this is where
we can build this Bitcoin narrative. Like a lot of people laughed at gold last week, Peter Schiff, notably, right? Like, oh when I see Bitcoin holding so strong, and I feel like this is where we can build this Bitcoin narrative.
Like a lot of people laughed at gold last week, Peter Schiff notably, right?
Like, oh, gold is pumping all-time highs, Bitcoin is getting decimated.
But this is where Bitcoin builds this narrative, I feel.
I was going to say, I think it's an important time to pay attention
to the Bitcoin equities correlation and the Bitcoin gold correlations as well.
I know you were talking about that.
I've been following a little bit. I don't have new hedge pro, so I can't see like
the most up to date numbers, but you can just start to see that correlation with equities
tweaking a little bit here because Bitcoin has been relatively strong in the last couple of days.
So this is a chance to create the narrative that I think Bitcoiners and many cryptocurrency enthusiasts and investors, of course, have championed for a really long time.
It hasn't really ever come to fruition, at least in my opinion.
So we'll see. We'll see what happens.
Could be a huge catalyst for Bitcoin here, right?
If Bitcoin outperformed here, especially if some of the big corporate stocks continue to fall, that's a big deal.
And we haven't seen it, right?
I think some of the knock on Bitcoin lately is it's been too correlated with the S&P.
I think, Sam, you've been even sharing some charts of what Bitcoin is correlated with.
It seems like it's more correlated with what, Tesla than it was, the NASDAQ?
Yeah.
If you go back six months, Bitcoin has had zero correlation with gold. It's been quite
correlated with stocks and it's been even more correlated with Tesla than with the S&P 500 or
NASDAQ. I read that as Bitcoin and Tesla are both trading as, just to be blunt, how many favors is
the government going to do for these assets? How, you know, like how much is Tesla going to get pumped by Trump and Elon and how much
Bitcoin clearly like we're all just sitting here waiting for Trump to pump our bags.
And I think that that's they've kind of just been trading as these as these, you know,
sort of quasi like dunk on the libs like is Trump in control assets when he's feeling
in control of Bitcoin and's feeling in control bitcoin and
tesla do well and it's like you're not sure what's going on they've both done a little bit worse
uh so there's been more correlation there but tesla uh is down pretty bad today right and
bitcoin's holding in it is and the thing about tesla is like this is where i still don't know
like where we're at and broke you said you're not fearful and i like to hear that i'm not fearful either
especially not for a crypto lens i think from some of these stocks though like i don't know
i got a call i got a call from my mom this morning about her 401k um which i think may be the first
time in history i've received a call of that nature but she's a my parents are both retired
they of course need and depend on
that type of money, you know, to live their lives and to create the lifestyle that they're hoping
to. She's not a full panic. She's not super, you know, into financial stuff anyway. So I tried to
reassure her as best I could, but that was a little, you know, just a small anecdote that I'm
sure more conversations like that are happening throughout the world, particularly in the United States right now, about what's the future holding for people who really need that type of money to live every single day.
That's not even to have the conversation about the potential price impacts at the consumer level for people that aren't retirees and what may come there. I was just looking at a wall street journal article headline that said
something about like Americans are rushing to buy TV,
soy sauce and Lululemon workout gear to jump ahead of, you know,
potential price spikes from tariffs and inflation.
Yeah.
But I mean,
those are very real impacts as well that are yet to be seen or maybe starting to be seen, but people are trying to get ahead of it.
Well, quickly.
Eye opener for me.
If you're rushing to buy Lululemon pants, you're not too worried about it.
I don't think so.
I don't think so.
There's knockoff brands you can buy, folks.
I feel like Lulu's making healthy margins.
Yes.
As much as I love my $80 t-shirts.
Sam, I felt like you were going to jump in there.
Oh, no.
Yeah.
I mean, this is kind of what we were talking about earlier today, though, Tyler.
I still don't feel like we're treating it like it's real.
Like if in a week, you know, the average goods you get on Amazon go up 30% and, and, and like,
or buying a bottle of wine goes up 30% or whatever it is. Like, I,
like not only is my bag down, but shit's more expensive.
And that money actually is all going to the government. Like, you know,
there's something about like when, when prices are higher, you're like, Oh,
I'm kind of like, you know, you're, you're feeding me. I'm here.
It's just going, it's, it's tax money, you know, it's going to governments.
It's going, you know, so like, I think, you're feeling like I'm here. It's just going it's tax money. You know, it's going to governments. It's going, you know, so like I think I think in a week, if this all goes through, it's going to be interesting to see how I mean, and either consumers are going to pay or corporates are going to pay and stocks go a lot lower.
But I think we're you know, I think right now the market is still pricing in that there's some resolution to be had in the next six days that this doesn't fully go go through i also
like but to logan's point like there's there's a narrative out there which i just think is dumb
which is like oh like the average american doesn't care about stocks like this is just the elites who
care i'm like every caddy i've ever had sits around trading robin hood like i don't know who you guys
are talking to but like yeah i'm sure that there is a good chunk of people who aren't like deep
but like most people own some stocks in some way they don't date trade it but they definitely have a 401k yeah they have 401k or they trade stocks
there's a huge movement out there to try to like retire you know to save all your money get more
money in the s p 500 there's kind of this truth in america that stocks go up over time if you just
hold like yeah there are a lot of people who have stock exposure so i just i think there's kind of
like the the shift to like oh the average person doesn't care.
It's just the elites.
I'm calling BS on that.
I think that's cool.
There's also a lot of headlines right now, right?
Like all these people like Logan,
I don't want to assume what channel your parents watch,
but they watch the news on TV, I'm assuming.
And they see all the headlines.
So of course that whole, you know,
part of the people in America are starting to get worried a little bit.
And we got Chandler making this at this point that I'm calling BS on. that whole part of the people in America are starting to get worried a little bit and wonder what to do next.
And we got Chandler making this point
that I'm calling BS on.
Like he's saying,
there are a lot of people.
Like, yes, there are some,
but like this is a country that prides itself
on stocks not tanking 10% in two days.
And Logan's mom's calling,
my caddy's interested.
Like, there are a lot of people
who are affected by stocks going down.
Yeah.
Now I'm to pivot to IBIT.
That might be the call.
I listen to the local radio, like when I'm going to pick up my kids.
There you go.
And yesterday, like they never talked about markets.
They're talking about pop culture.
Rightfully so.
They're playing music and keeping a light conversation.
Yesterday they said, don't look at your stocks, folks.
Your own stocks, don't look at them.
So it's out there.
Foroka, I'm curious, like what's the boots on the ground,
European sentiment right now? You were,
where you've been the last couple of days and kind of what kind of
conversations you've had there. I'm curious.
I think like, well, I was, I was at watches and wonders, right.
In Geneva for this huge, like watch convention.
It's like the biggest watch convention conference in the world.
And I was invited by Richemont, which is one of the largest watch luxury groups in the world, right?
$120 billion company.
And the reason why they invited me, Loxer CEO, and Danny Seedfraze is because they kind of want to learn more about how the minds of the people in crypto are as consumers.
But every single brand we visited, I had meetings with like 12, 14 brands in two days.
It was just one after the other. I'm talking like Piaget, I don't know, like Vacheron, like the
biggest watch brands in the world, literally. They were so excited to dive into crypto and learn more
about crypto. We had dinner with the head of payments at Richemont, the entire group, or the
head of all global markets, been there for 25 years, they were the most excited about meeting us. So again, but we've said that before, Tyler,
institutional versus like crypto is such a different feeling.
That's why I guess I'm never bearish.
It's just because I see this wave coming.
Like I spoke to Zhege Al-Lakut, like all these big brands.
They're like, wow, like we want to get into crypto.
It's just tough because money laundering laws, blah, blah.
We don't accept crypto yet.
And I get it.
It's tough to accept crypto at that scale.
But they're the most interested about the people in crypto.
So I thought we were going to be greeted like, oh, it's the crypto guys.
But they were all like, whoa, okay, let's spend time with them.
And I sat with them for 30 minutes to an hour with every single one of these brands.
Like we're talking all these big, big, big conglomerates.
And dude, they're excited, man. So there's this thing about crypto. The head of global marketing,
Richemont, $100 billion company comes to you and wants to spend two whole days with you
at an important conference like this. I don't know. To me, this is all telling.
They're interested by our market. They're interested by our network participants.
And so it's tough for me to feel any bearish.
So prices suck, but I'm like, Logan, I'm not looking much these days.
You know, and when you don't look much, it helps.
It does help.
It helps so much.
My, my, aside from the fact that the sun is shining way more here than it does at home,
which is a huge benefit.
Actually, like literally not getting on my phone to refresh prices
of course i'm working in the industry so i'm doing it quite a bit anyway but
it's it's a life hack it really is like i don't even have i don't have any of the apps on my
phone right now and it has been it's been beneficial during this time logi just wants
to disconnect faroka i feel like they're just tired of seeing the watch king
flipping watches as crypto bros make you know 50k on on fart coin and and they want the cut
of the crypto bro money uh but no i think it's a good they do they want our money literally because
they know we have money you know they know it's real money too, right? The money's in the bank.
You can't just go cash it out like that.
So I don't know.
For me, I look at signals like that, but it's a longer cook.
Yeah, 100%.
Well, and more near-term cooks.
There's a couple of interesting markets out here.
So one, number of rate cuts in 2025.
It's kind of a tale of two stories.
So I saw right before the show, there's like a 15% chance of a rate hike in 2025. It's kind of a tale of two stories. I saw right before the show, there's like a 15% chance of a rate hike
in 2025. I think we've seen some major banks calling for a rate hike.
Yet, the odds of four
cuts are the highest they've ever been here.
Up to 18%. Wow, I'm just saying eight
or more? It's up to, wow.
That's great, folks.
I've been following this market.
Wow, so I'm a little surprised to see this here live.
200 bips cuts is now up to 15%.
Wow.
So some huge moves in this market.
Sam, maybe I'll toss it to you.
Do you have a read on this or is this just another
total toss-up that we have to just wait to see like how real all this is it's one of those things
that's so hard to say right because the the Fed you know their their primary goal is to keep
inflation around two percent and we were just talking about how the price of many goods could
go up 30 next week you know but that's like a self-inflicted wound. That's not, this is not like market dynamics causing it. So, you know, it's going to be, I think we're
clearly going into what, like an inflationary period, but it's a bit of an artificial inflation,
you know, so do you use rate, do you hike or cut rates to fight that? Like, I just don't know,
you know, so they're basically here saying that growth is about to
torpedo downward and inflation is going to be high. And what do you do in that environment on
the rates front, especially given that the cause of the inflation is tariffs as opposed to lose
money. So it's a very, and I think that's, it's probably rare that you're going to get poly markets so all over the place
when it comes to predictions. And it's probably because this is an extremely, almost unprecedented
set of circumstances that we have here. Absolutely. I mean, Peter James,
the piercing volatility has never been more real. 24% chance of an emergency rate cut in 2025 now.
That's up from 14% just yesterday.
I want to, man, how many rates?
I mean, and that's basically just saying, like,
that was what you said about the moon overload.
I mean, I think, like, if you get some world where, like,
the 30% price hikes or 20% happen across the board, maybe that's what you know.
Because emergency rate cuts basically say, we can't wait a month.
We need to do this immediately because things have suddenly got so bad.
And we didn't foresee it coming.
So that is a very acute kind of thing that would cause an emergency rate cut.
Yes, which feels on the table.
So many outcomes feel like they're on the table.
The other one is the recession odds now up to 56%.
So back on March 27th, these were 33.
So substantial increase here.
The definition of folks aren't familiar.
There's two.
Basically, if this National Bureau publicly announces a recession,
so that's a little bit more wishy-washy, right,
because it comes down to rhetoric a bit more,
and we can see governments perhaps use different types of language.
But the number two here is more metric-based.
And so seasonal adjusted annualized percentage change
in quarterly U.S. real GDP,
if that's negative for two straight quarters,
that meets the definition of recession.
So I'm pretty sure that we know Q1 was net negative.
I think I've seen the Atlanta GDP numbers.
There's somewhere between minus 2. half percent to minus 3.7%.
Same. I'm not sure if you've been dialed into that much at all.
So to me, the bet here is like, do you think if Q2 is worse than Q1,
this is like a lock? I mean, like what,
have you looked at this market and do you have broader thoughts on like
recession here?
I haven't like, I don't, I don't i don't spend i feel like u.s recession
is so definition prone like this type of thing like what you know and i feel like it it like it's
like if growth is 0.1 versus negative 0.1 like there's just a difference of 20 basis points but
we freak the out because of that like that term it just feels like kind of a media contrived like
kind of like over hyping of the number zero
but uh maybe that's a bad take but yeah i wouldn't say this is something i like
this specific stat as far as like annual gdp growth is one that i'm like hyper dialed into
right now um but yeah i mean if again it all to me a lot of it just comes back to this idea of like
what like are we is this all actually going to go through? Have you looked at the chart that looks at America's historic average tariff? I'm not sure if you brought that up.
It shows just how insane of an outlier the moment we're in is if everything doesn't change. I'll get it and send it to you.
doesn't change. I'll get it and send it to you. Yeah. Pull that out. That is a very interesting
one. I'm trying to find it. So basically I think it's just, I've got one here from Geiger Capital.
Always an incredibly reliable source, but I think the chart is accurate.
Overall weighted average tariff is 29%, highest in over a hundred years.
tariff is 29 highest in over a hundred years and just like to show you where we were at like it's
just like it's off it's like almost literally off the charts so yeah i mean yeah so so it's like
how do you like how do you even think about these things like what's going to happen once that
happens like it's and especially as i said is it going to happen like are we going to
come to some deals over the next six days so that it doesn't happen like yeah it's hard to predict
we're all just working through our thoughts in the timeline i appreciate your comments
earlier i think some some folks were replying oh the now crypto twitter is all tariff experts
i don't know we're all just trying to work through this in real time you gotta be i mean it's like
you know you can sit around saying like doge versus
shib versus fart coin versus you know versus ai xbt versus cerebro or whatever is whatever they're
all called and we can spend all our time freaking out over the money you can make but if you miss
these types of moves like these make those moves look irrelevant like macro is what determines
things so you gotta just test your luck at trying to form opinions on this stuff. And if you're forming opinions, post them. I think
that's a great way to test your opinions and to get feedback. NFT God's a pretty controversial
person. And I have a love, hate relationship with his content, but he always says this. He's like,
research something and post it. And I think you should be doing that about macro.
It's the most important thing for your bag.
I'm totally with you.
That's what Twitter's for.
So I want to talk a little bit.
Yeah.
I want to talk a little bit about what are we buying?
Are we buying anything?
Farcoin, bro.
Every dip.
I know you're a shopper right now.
So we've got big things.
Every time Farcoin dips 20%, I'm buying it and then just sell it every time it rips.
Wow.
And just repeat until...
I mean, last night I texted the chat.
I was like, Farcoin's looking good at 380 and then went to 500 million this morning.
Farcoin, man.
I think you could just focus on a couple intraday coins and just take a break.
I ain't trying to catch runners, though.
I don't know.
That's your stuff.
It's a little wild to see Farcoin up 25% on a day where global markets are panicking.
What drives 25% moves in Farcoin?
Are there insiders buying?
What leads to these types of moves?
Is it really low supply?
Like these are just, these are crazy moves.
And I find normally there's some sort of thing going on.
Hot air rises.
Three words.
I think the reality is there's $4 million in the liquidity pool.
So it doesn't take a whole lot of net capital to move these things.
And I shared the chart.
I mean, Dip Wheeler, the meme god that he is, he posts –
The train.
Just keeps going up.
Like people are – I don't know if it's the financial nihilists out there.
Like they want to get gambling their way out is the only chance that they see
or just the lack of like, there's nothing else going on in the market.
There's one seemingly consensus meme coin out there.
And that is farcoy. People keep buying it.
That is my anecdotal read.
Now what's driving day-to-day 25% candles?
It's probably a group of whales maybe playing some whale games.
But the fact that it's held this high amidst a broader market crash,
I think, is a sign of optimism for the Fartcoin cohort out there.
And every day it holds over 400 million i think the army gets a little bit stronger and a little bit more confident so that's my mistake as a
holder sorry i was just gonna say i think the narrative is really malleable for fart coin as
well uh you get into this space where like everybody feels like everything is complete
bullshit everything's made up.
Everything Trump's doing is just random and off the cuff.
And you get back to like, all right, well, F it.
I'm just going to buy something called fart coin because whatever.
That narrative has been attached to it to some degree for the entire time.
Of course, it started with the AI attachment, its adjacency to, you know, to go and things like that. But I just think the narrative here is so, is so malleable that that could,
that could be a little strong catalyst, you know, for the foreseeable future.
There's, I mean, I tweeted this out before the show.
People are playing this game.
Yeah.
People are playing the meme coin game right now.
There's volume.
Abstract has crazy runners.
I'm in none of them, but I'm just seeing people cook on there.
This TTCoin is now up 70% on the day.
It's at $34 million.
Butcoin up 70%.
Everyone who's listening or watching,
I'm fully conscious of how ridiculous these words that I'm saying are.
But this is the state of the market right now.
TickCoin is a meme coin that posts content that you would expect.
And the logo is a flip.
Oh, it's great.
That has been enough to really rally a group behind it.
And honestly, I would not short this thing.
I'm not a holder.
I don't hold this,
but it looks quite strong. And then it's got downstream derivatives,
but coin, and then now this house coin, we're going to flip the housing market disclosure.
I do hold some of that. That's a good trade. You told us that early. He gave us that one.
But I don't know. This aspect of the casino isn't shutting down.
I think that's the takeaway that I'm seeing. I want
to maybe talk something a little bit more
serious. We're talking about the AI
sector.
That's cook, baby.
I mean, ARK has gotten obliterated.
ARK is now $37 million.
So price action has been bad.
But we had a really insightful conversation with the Wayfinder team yesterday.
With Kalos and Adrian.
They talked us through their agents.
And I think there was a very strong and loud cohort of people on crypto Twitter
who said this whole crypto AI meta is total vaporware.
And slot bots. And a lot of that,
like in a lot of it was,
this is not vaporware.
Okay.
If you look at these demos,
if you start interacting with their agents,
Midas autonomous Vulcan,
like Andy 8052 has been demonstrating like what you can do.
You can effectively vibe code whatever crypto application you want. You are
limited by your ideas. And their tools will help you create all the code for that. Minus is their
version of your AI trading copilot. So no longer do you have to be the one who clicks the buttons
to say, I want to bridge 10 Solana over to E eth and swap it to usdc now you can use natural
language and tell their ai just to do that that feels to me like the type of thing that once it
gets enough trust enough people behind it could actually be a game changer but logan i know you've
been following parallel for a while i'm curious for your reaction to that conversation yesterday. Yeah. So as a disclosure, I'm a prime casher.
So I have put some money behind my conviction here and what they had shared yesterday.
I encourage everybody to go listen to the conversation.
I don't want to try to repeat too much of what they said because I'm not going to say
anywhere near as well.
But it's exactly what you were alluding to, Tyler.
It does feel like
a level or two above a lot of the things that we saw during that AI bubble, which they called
social agents, which I think most of us called AI slot bot reply guys. You can actually vibe a code
or vibe interact your way through crypto. And it may not seem that appealing to those of us who are
through crypto. And it may not seem that appealing to those of us who are, you know, active and have
the technical acumen to make those types of trades, right? Like swapping Solana for USDC
isn't difficult for us at this point in time. But when you think about onboarding more people to
crypto, and the technical barriers to doing so something like this is potentially very, very
impactful. Because one of the reasons that maybe more folks haven't participated alongside us is that it is difficult to do. And there are
a lot of like crazy little nuances that you need to know in order to go from chain to chain to chain.
So I'm really excited about that as a another disclosure. Like I've used Midas, I had it
find me the best yield for USDC and just went ahead.
And, you know, it's like two or three messages.
This was early.
I got early access because of, you know,
prime caching maybe a month ago or so,
but it's just, it's pretty incredible.
And like, tell it to do things for you.
And it's going to do it.
I mean, that's the type of world we want to be able to live in.
And we're sort of seeing it play out and be manifested via this.
And as you noted, yeah, you're only limited by ideas.
I think a lot of people have had really awesome ideas in crypto.
It's difficult to implement them, you know, oftentimes.
Hopefully this helps us get more of those across the finish line.
So Logan, like, tell me specifically, what did you do?
Like, you just did a chat GPT interface, you said, find me me like specifically, what did you do? Like you just do a chat GPT
interface. You said, find me to like, what specifically did you do? Yeah. So I had access
to the transaction agent. Um, again, believe his name's Midas or whatever else they've codenamed
it. Um, you go in, it's very similar to a chat GPT interface or any typical chat messaging app
interface. Uh, and I knew, you know, what my balances were and everything.
And I just asked it to find me the best yield for my USDC.
You know, it came back with the responses of, you know, here's via Aave.
This is whatever the percentage was.
And then I asked it to go ahead and, you know, activate that more or less.
Like, you know, put my USDC to work
in one of those pools says, okay, you confirm the transaction like you would any other crypto
transaction, which is something Kalos was saying yesterday to the trust point.
You know, like, how do you trust this?
Well, in that instance, it's very similar to completing a transaction in any other way,
completed it, and it's still staking.
So yeah, it's on a wallet
that I don't have access to at this point in time, but, uh, to pull up or share with you,
unfortunately, but it was maybe three minutes, um, uh, of some back and forth and like it finding
the, uh, you know, the rates for me, me deciding which one I'd want to take advantage of and
telling it and then it go ahead and, and making the move for me um that's that's pretty awesome what I pulled from it too is that the way
it works I'll admit here I have not used it and I need to is it basically like you asked it to do
something and it shows you the step simulations so you can see specifically what's going to do
and then if you like that you can click the approved button. So that's how you can kind of build some level of trust. I feel like this is big. I've been in
conversations with Sam and he's asking like, okay, what's the best bridge from chain A and chain B?
Well, now, like if you ask a question about that, like in a more real world topic, I can say, well,
let me check GBT that for you. Now you can say, let me Midas that for you. Or soon you just go directly to Midas.
And then you ask it these questions.
And then maybe early on you fact check it with your sharp buddies to see,
is this actually right?
But then once it is right three times, five times, ten times,
then you start using it for more things.
So I think it's a big deal.
It's going to be a fun one to follow.
And folks, if you're not following,
their TGE is sometime in the next two weeks,
maybe even one week.
They said first couple of weeks of April.
So that's going to be a big one to watch.
Let's talk about Punks a little bit.
We've got 10 minutes left in the show.
I guess quick for those who are interested in the roll bit,
spins later on the show here in just a few minutes. Stocks is the code.
Stocks is today's code. We will be doing those spins here in just a few minutes.
Punk floor holding up okay. 41.6 ETH. The last one just sold.
You're up in ETH.
We're down a bit in the punk Bitcoin spread.
But you're up in ETH now.
We're up 6%. We're down 6% rather.
A couple of nice sales.
We saw this nice 3D.
Ladies sell for 69.69.
That was a nice one to see.
But then this is the one that jumps out to me.
Crypto Punkunk392.
That slick gold chain.
Has only been...
You're muted.
Don't you see me in this punk?
Yeah, dude.
Gold chain.
This is me.
One Mohawk.
Mohawk.
I think my balding, maybe be just a mohawk's
probably the way that middle still goes on if this was a 2021 bull run this would be digital
blackface or get canceled for it i didn't realize you bought that until i saw a new pfp on telegram
yeah yeah i uh i I like this punk.
And, you know, I think I've got a white skinned male.
I got a white skinned female.
I was like, well, let's mix it up.
Get some cultural diversity in my punk collection.
I'm a fan.
That's quite the collection.
Three punks now.
I know.
They're all down bad.
So I'm like, you know, like I actually got into crypto because of punks.
Like I think everyone's got their crypto asset that they feel the most connection to.
And for me, it's punks. And normally I want to sell my punks. I'm like, why am I in this
liquid stuff? But then a week ago I was kind of like, Oh, I kind of like that punk. And it looks
kind of like Jay-Z and it's a good compliment to my collection. Then you just spend a week being like, am I going to buy this?
And then one morning you just push confirm.
You're like, what the fuck did I just do?
Y'all know the feeling.
Yes.
I bought it more as a collector than like as a collector.
I'd say if I had to like tie it to some macro trend going on out there,
I'd say I think that like my ETH is kind of pretty idle.
And my crypto bag, I keep in crypto.
And my Bitcoin is bigger than my ETH.
But I have this ETH sitting there.
I feel like it's going down every day.
And I was like, you know what?
Fuck it.
Let's just put it into a punk that I actually like.
So I would not say that I would read this as a smart money move.
It was just like more of a collector. more like, I kind of like that punk.
It'd be a nice addition to my collection.
And once you decide you might want to buy one, you can convince yourself of all sorts of reasons to buy.
So I'm among the reasons I convinced myself.
I have three kids.
Now I need three punks, one for each of them.
Like, just stupid kids.
Hey, dude, absolutely.
It'll get passed on.
You know, you don't, what is it?
You pass on the next generation, you know?
That's it.
Yeah, exactly.
I can't just give each of my, two of my kids a punk.
No, you never actually own a punk.
You merely look after it for the next generation.
Exactly.
The second, like Cyrus pinged me though.
He's like, hey, why'd you buy a punk?
I was like, because I'm an idiot.
Like, again, I love punks. Also, pinged me though. He's like, he's like, Hey, why, why'd you buy a punk? I was like, cause I'm an idiot. Like I, like,
and I, again, I love punks. Also, I will say this.
My only two punks are punk nine Oh five nine, which is my,
which is my handle and my PFP. So it, like,
I feel like I can never ever trade those. I mean, oh yeah.
If we get a rally, maybe I can, this one is a bit more kind of transferable,
but I'm starting to like it. Yeah.
Well, I certainly understand that I'm showing Jay-Z's Twitter page because I think there's some folks who have
joined the space since 2021 who may not know.
Dude, Mr. Carter.
Like the Jay-Z punk.
Yep.
Basically your cousin here.
There used to be rumors about those chain punks.
There was rumors about those chain punks 2021,
how Jay-Z would throw special events for chain punks. There was rumors about those chain punks 2021 how Jay-Z would
throw special events for chain punks
and then you could go and then
the chain punks ripped
for the highest time, had the most insane floor
like hoodie punks.
If you believe that, bro,
I got a moonbird to sell you.
I never believed that. That's why I don't own one.
Today I learned
the women gold chain is
horizontal same with silver it's not a good trade i really don't like those choker look like it just
it does not like it to me the hidden gold chain favorite this is a sick one yeah the hidden
gold chain is gangster's yeah it's crazy the idea that that single pixel adds like $10,000 to the price.
Probably more.
$30,000 to $40,000.
More.
I just like to keep it muted, yeah.
I just need these punks to go a little lower.
Like I want more, but I don't like the floor as much.
So I don't know.
They're holding nice though.
You said you bought it as a collectible,
but do you have a take on punks versus Bitcoin over the next
six months, nine months?
I really like
punks, man. I like punks
and I like Bitcoin. I like both of them.
I think I always say,
crypto assets are like wine. You want
to own the old stuff.
The stuff that's surviving the test of time, I think,
is the best stuff to own.
But yeah, I mean, ETH is very fragile right now.
And punks are denominated in ETH.
So it is hard to want to dump too much into it.
I'd say if I didn't have ETH in a wallet and it was like use another currency to buy, I'm not even sure I would have.
I was just like sick of having this wallet with ETH doing nothing.
So I was like, all right, I'll just buy a pump with it.
Yeah, ETH sort of goes no use.
I have a question because I'm with Danny
and today he asked me, he was like,
if ETH goes to zero, the pumps go
to zero.
I'll buy a ton of them.
At zero? I'll buy a ton
of zero. Because we didn't get to claim them.
I'll buy a ton with ETH at
100. If ETH goes to 100, I'll just buy a ton of pumps. So what's up to claim them i'll buy a ton you get 100 if he goes to 100 i'll
just buy a ton of punks like so what's up with the punk claimer wilcox legend i mean legendary
criminal now i guess but uh or not but there's this punk claimer wilcox who's like a legend in
the streets of crypto punks and he came what 10 million dollars short of his tax bill and now he's
got the irs on his ass so this wilcox guy is a top 10 holder
of punks he still have 100 of them do we think so is the irs about to seize punks and and does that
mean that punks will be in the reserve i don't think so i i did i don't think they would take
the punks this punks feel like a very unattractive asset for a government town. So what's the story here? What's the story? Did you guys read that?
My guess is he claimed tons of punks. He sold a lot.
He's a legendary pun collector.
Yeah. He claimed tons. He sold them over time. And my guess is he didn't declare taxes. And
player taxes and it was public enough that he got caught and this is this is alleged but this is
it was public enough that he got caught.
from folks the irs website so this is beyond just like a news yeah i'm not making this shit up like
this is like so under reported his income from 2021 by eight and a half million and then again
next year by 4.6 million so he under he under reported by 13 million that's a big number
folks that's just a small decimal right i mean basically what happened is he claimed these punks
and he sold them you know over time and he didn't tell the irs so why is there an article on this
why is the iris writing about 10 million article? Probably because they want to send a message to NFT
elders that they're watching.
Yeah,
bro,
for sure.
That's a good point.
They say it,
right.
It's committed to unraveling complex financial schemes
involving virtual currencies and non-fungible.
Right.
And this could,
I could even see like the more like that Trump is making
crypto political to the group too.
Right.
So I can actually see
a part of you know this becoming a little bit more of a political attack too from those that
are still my guess is this is more legacy biden though like i don't think this it's been underway
it didn't start this has been a long process like you don't just suddenly realize someone's like
yeah but it maybe but for i don't know i don't know enough about tax evasion
to know how frequent uh you know 15 million dollars of unreported income is but maybe this
is maybe it's not that frequent and when they get someone they they post it yeah that's a big number
uh pay your taxes folks i think the big question though is like what is going to happen to his
punks is he going to be forced to sell these is he not going to be able to sell because he's going
to be in jail for for three years i i have no idea like if these types of offenses typically
come with jail time or if you get you typically like negotiate negotiate it down i would think
you they would rather have him just pay a big fee.
But this is way outside my comfort zone.
And hopefully will remain outside my comfort zone for as long as I shall live.
Indeed.
Indeed.
Well, that takes us to the most more topics.
Sam, I wanted to just check in.
Meanland, anything to report on?
What's cooking over there?
I mean, Meanland bought a public company. So, you know a 2440.hk pull it up yeah what's up with that finance i mean this is something that
ray wanted to do you know he bought the public company and before even doing anything the company
pumped to 100 million us dollar valuation just for basically the shell company uh and you know
i think the he has all sorts of ideas
for the stuff he wants to do with the company.
But I think that that is one of the more interesting things.
It's like, clearly it was influenced by micro strategy.
And I think the original idea,
because this is something he's been cooking on
for like a year,
the original idea was for this to be like a micro strategy,
but for meme coins.
And, you know, kind of,
and it could also be a long-term steward for meme coins.
Like you go and, you know,
like you know that this company is going to hold meme coins,
but not sell them.
So like you can, perhaps you, you know,
this would be a great place for,
to park supply for coins because it's a long-term holder and a way for
public markets to get access to meme coins. That was one of the ideas. Obviously, we're not in as
meme coin conducive of an environment right now as we were six months ago when this was all
cooking on the idea. But there are all sorts of other kind of plans for what to do with this.
To me, the most important thing with everything kind of meme land related is that meme coin ends up being the primary stakeholder and the beneficiary.
So that's a little bit of a tightrope, but certainly something that we're focused on.
There are a couple other products.
I think a couple other products that we're cooking that I think could be interesting where I think there might be real product use case, but they're still not out there in the wild.
They were discussed probably a few months out before I think you
start to see those. I'm spending a little bit of time kind of working on some products that we
haven't really discussed publicly. I'm a big fan of not discussing some of these things publicly.
The minute you start talking about it, it becomes a little bit harder to kind of get your day-to-day
through. So yeah, we had MemePay, which was a credit card product that yeah i think has like
done some interesting things but that's become a bit of a crowded space but between meme strategy
meme pay and a couple other products we're working on like and the the bunny marches on man we love
to hear it this is exciting stuff sam i want to thank you for for joining us it's been an incredible conversation we are going
to get into our robot spins so feel free to stick around um sims if you're ready i might actually
have to step away just for a quick second while we get that ready i gotta go open my door um i'll be
right back as we get this ready folks the code last it is stocks stocks Stocks, baby. Let's go. I'll run it up. I got the robot open.
Stocks.
STO.
CKS.
Got a nice little loot box ready for your asses.
See if someone wins punk.
I got a nice cringy hair punk in there for you guys.
All right, Sam's.
Let's pull it up, baby.
Let's pull it up.
Stocks was the code.
Let's see who gets this.
Let's see who gets this Come on, Papa. Let's go. That's a homie.
Wow, let's go.
That's a homie, baby.
This is my Chicago line homie.
We have his same hair dress.
What's going on over this now?
Let's go.
Let's go.
I see him.
All right, I see him.
Okay.
Let's fucking go, oh my goodness sneaker dad
share my screen my man long time we met back uh at a collector's dinner at nftnyc back in 2022
i had been friends online ever since sneaker dad GM. How you doing my friend? You want,
Oh dude.
Happy fucking Friday.
It's been a great week.
just started working with Spencer ventures this week.
Yeah.
Congrats.
That's huge.
It's been a,
it's been a great fucking week.
And Oh,
by the way,
Tyler,
I don't know if you mentioned this cause I was on,
I was connecting,
but we also have the same,
hairstylist hairdresser. hairdresser shout out to molly yeah you guys have the same hairdresser
we do yeah yeah that's so funny we didn't even know it she just she knew that i was into like
nfts and stuff she's like oh i have this really long-term client like he's been with me for like
10 plus years his name is tyler and i was
like no way it's like i know that guy so anyways i digress did you did you tell did you tell molly
that tyler is a micronese celebrity oh yeah like the last one of the last few times i was like hey
i don't know if you know this but like tyler's blown up. I was like, he's kind of a big deal now.
Not that he wasn't before, but like, you got to tip more now.
I think she ups my rates.
So, so thank you for that.
He's got my rates too, but you know, let's give this man a crypto punk.
Yeah.
Let's get a punk.
Can you guys see my screen?
Cause I'm on laptop.
You can see it.
All right.
You ready? Let's do it. Come on. Let'm on laptop. You can see it. You ready?
Let's do it.
Come on, Snigur. Let's do it.
Penguin.
Penguin.
Penguin.
Come on.
Come on.
Yeah.
Come on.
Punch it, Penguin, baby.
Let's fucking go.
Yes.
Let's go.
Let's go.
$20,000 win today, my friend.
Boom. How about that?
Let's go.
Love to see our longtime listeners and friends win in this space.
I want a penguin.
Fuck.
Thank you so much.
Yeah, you guys are killing it.
Rug Radio, Dastin, Decrypt, Myriad. Love you guys. Thank you so much. Yeah, you guys are killing it. Rug Radio,
Dastin, Decrypt, Myriad.
Love you guys.
Thank you so much.
Awesome, my man. We'll see you after the show.
Thanks, guys. Everyone, that's going to be
it. That is our show. What a way to end
the week. We'll be back on
Monday. Until then, go make
it a beautiful day. Goodbye. Peace out. Thank you. I
