It feels like the Smoking Jackets has come back two years after our original podcast,
which Faroq actually took over, which was called the Smoking Jackets.
Music plays loud, doesn't it?
I think Faroq is normally at a different decibel to me, so the music always needs to match that.
We've had a lot of issues with Twitter spaces over the last 24 hours.
I hope you guys can hear us in the space, but if not, I will be very shortly tweeting out the broadcast link.
I think you can find us on YouTube still, right?
You should be able to find us everywhere.
I'm busy with just a few different things at the moment.
Just the last few days have been like balls to calls, really.
If you are watching on video, you'll realise that OSF has managed to shave off about 15 years from his age after he shaved his beard.
I don't know. I think you're kind of looking like an 18, 19.
You could pass as your youngest brother, I think, right now.
My youngest brother is only three years younger than me, so it's not like a crazy...
I reckon you could definitely be mid-20s with that look.
I do still get ID's when I buy alcohol in the markets.
You used to be younger, but now it's like a compliment.
When I clean shave, yeah, I can look very young.
I think in Austin I got ID'd when I was clean shaven in Austin and I was definitely younger.
I just don't know if I love that look yet.
Like you said, you're getting so old that you need to shave the ears off yourself.
It's kind of like an early midlife crisis when you start going clean shaven, I think.
I do it once or twice a year just for banter, really, and I instantly regret it when I do it, so...
So I just like to shave it all off.
Should have kept the tan.
Anyway, let's get into stuff.
Like I said, Faroq is on a plane, I think.
It's going to actually be on the show tomorrow.
We are sponsored by Ledger.
As you all know, everyone's favorite hardware wallet provider.
I know they had a big party a couple of nights ago, but yeah, go check them out.
Obviously, we use them for all of our hardware stuff, and they've been sponsoring the show for the last month.
But yeah, the market feels a little bit shaky out there, I think, right?
Last night, I was feeling very bullish, and then Bitcoin actually hasn't moved.
But Bitcoin dominance has risen.
It feels like a lot of the altcoin moves that were feeling very, very strong yesterday kind of got shaken out in this move.
I look on my trading view, and pretty much every coin is lower over the last...
Since midnight, my time, but Bitcoin and ETH are slightly higher, it looks like.
So it feels like this was altcoins really getting wrecked.
Bitcoin dominance has risen very slightly, but it only needs to rise very slightly for alts to fall.
So yeah, what do you think of the market right now?
I'm just thinking about prices now.
Yesterday, it really felt like we were also going to rally, right?
The sell was really strong.
Everything was really, really big, and we'd had a few days of Bitcoin feeling a bit shaky.
But we saw it bounce to 43K, and the ECF volumes were good, etc.
And then I don't know what happened today.
We woke up today and alts are back down again.
So it's a tough one to judge.
I think macro has been a little bit weak.
Stocks are actually up today, but they were down yesterday.
Interest rates are a decent amount higher.
10-year is 20 basis points higher on the year.
So that's a decent move on 10-year.
And you have the FOMC at the end of the month.
So there's just a few different bits and pieces going on right now,
which means the market isn't trading as strong as maybe we feel like it should.
I know the ETFs have created a lot of inflow,
but obviously on the other side of that, there's been a ton of sell pressure
from probably crypto-native people who are in it for the trade.
And that intersection could have been after that had the inflow
not been so strong from the ETF.
I think we're just in this period of consolidation.
I know a lot of people think, oh, we're either going to break low or break high.
I think we may just stay in this range for a while.
And I think eventually we should come back higher,
hopefully if the FOMC isn't just like a disaster at the end of the month.
But I kind of like Solana, like Alts here.
I think they feel like they have a good opportunity to go higher
if Bitcoin just stays within its range, in my opinion.
I don't think we're in for a nuke to like 38k.
Everyone is saying that at a support level.
I think we'd have to obviously a really big nuke in macro.
But to me, it feels, the ETFs,
and there was maybe some initial disappointment,
but what I've been impressed at is like every single day seems to be
pretty healthy volumes going through those ETFs.
Net inflows, yeah, obviously there's some outflows from grayscale,
but the inflows I think are up to like 1.4 billion so far.
And each day this is new.
So it just feels like, and we remember this from being traders, right?
Like when the ETFs every single day is coming in to buy,
it doesn't feel like a lot on the first day,
but by like the 20th or 30th day or like the 50th day,
no one has any inventory.
We used to trade at obviously different markets,
but when you start to see these BlackRock or Fidelity
or Franklin ETF tickets, they'd come up being like,
look, can I buy, you know, I'm doing Bitcoin, 100k Bitcoin.
Eventually, yeah, it really does start to rack up.
It'll be interesting to see how this feels after like 20 or 30 days
I think we sort of like we transition from the ETF excitement now
to like people have stopped focusing on it
and people are just kind of like moving on to the next trade.
And if volumes stay the strong and the inflows stay this high,
then I think we may transition back to it and people might be like,
oh, wow, like actually these numbers are quite good.
So I think it's very much in the mix.
Also like, you know, it's fucking, it's the 18th of January, right?
Like we have the whole year ahead of us
and it feels like so much has already happened in this year.
So I know it seems like a lot of people are like,
oh, it's time to throw in the towel and move on
on time to like take money off the table, fully stable, whatever.
But I just think we're still very early in this process.
It definitely makes sense to take profits.
Like if you're someone who bought a lot in 2022 or 2023
and stuffs up, you know, you're up between two to 10X
on a few different things and yeah, I understand taking profits
and those always wise to do so.
But I think to just call the crypto top here
or just to call things that are new from here,
I think it just feels very premature in the context
of where we are in the year and where we are in this process,
It does feel premature to me as well.
Like in terms of what the market is going on,
I think we can just go sideways for a little bit.
There's been, ETH and Bitcoin are obviously out performing today.
Did you see what was going on in Franklin Templeton yesterday?
Like I know you had a few drinks last night
And just in this context,
I put out a tweet saying this yesterday,
but like Franklin Templeton were one of the most boring funds out there.
Like they are pretty run-of-the-mill asset manager.
Very big, been around, I think 60, 70 years,
I think they've been around like just post-war period,
but very, very long, just like the sort of place
that would never really do anything too nuts.
But they would always, you know,
they would always have quite big size.
And then to see them, like their official Twitter account,
laser-eyed posting about dog with hat,
it's just so not like them.
Well, at least the Franklin that I knew,
that I'm just kind of like,
this doesn't feel like we're going lower.
Like when you have an eight, what is it,
$2 trillion asset manager,
like laser eyes posting about dog with hat,
that to me feels like we're going higher.
Yeah, it is incredible to see that.
Like even if you look through their whole Twitter page,
it's like, I think they had like a crypto takeover yesterday,
but like the whole Twitter page is just like all these talks about,
like it's about 10 tweets of crypto stuff
and talking about different L1s and L2s and all that kind of stuff.
Like you've had this meme of the institutions are coming
and we're sitting here now with like VanEck,
like trolling crypto stuff on Twitter
and now Franklin doing the same thing.
Like it is really mental.
And it's a massive far cry from what we saw in 2021
when all these guys were still hating on it
and then eventually it all sold off.
But now all these guys are on board,
obviously because they all try to make money out of that from BTS.
But it's a huge shift in the dynamic, I think.
And yeah, it's just tough to see like,
it's tough to see us can like drop lower from here
with those guys involved in that, I don't know.
I was trying to work out if it was a top signal
or a bottom signal, but I feel it's a top signal
because the reason why I say that is because Franklin,
it's such a, it's such to me,
just describes it's such slow capital to a certain extent
or like traditional capital in the space
that it's probably gonna encourage more of the fringe capital
to also be like, I should be checking this out, right?
Like if I was sitting there and I saw Franklin doing that,
I'd be like, wow, Franklin's doing this,
maybe I should look at it.
BlackRock have always been a bit more forward facing,
like they're catching onto new trends with ETFs
So I was just like, when I saw that,
I was like, this is kind of wild.
Although I didn't notice it got picked up
by any mainstream news outlet.
The only thing that they were talking about yesterday
was Satoshi increasing the Bitcoin supply,
I don't know if he's like trolling or not.
Like he's a smart guy, like what the fuck is he doing?
Maybe he just, maybe he just really doesn't like it.
Like a lot of people just hate crypto,
maybe he just doesn't really like it.
But he's still like business minded enough
I think he just doesn't like,
obviously he doesn't like the meme concept
of things without any inherent value.
And like Bitcoin is kind of like the original meme coin.
Whereas there's an argument saying like,
oh, he does this and that and that.
And so I think that was the argument
So what we're talking about,
maybe we should bring it up.
I don't know if you've got it on the background,
but Jamie Dimon was in Davos yesterday
and he was basically saying,
not only did he call Satoshi Satoshi,
but he basically said that Satoshi,
at the end of the 21 million Bitcoin,
could just switch it and increase the supply.
Now, there is a non-zero chance
that Bitcoin does have to increase its supply.
there's been talk about the idea
that that needs to continue with the security budget.
But the way that he described it,
just described it as if someone had only just heard
and just seemed really misinformed
which is like the biggest firm in finance,
maybe he doesn't need to care.
I think they had their highest profits ever last causes.
So like maybe he doesn't need to care,
but it does seem kind of,
this seems like such a boomer,
boomer take on what's going on there.
that's kind of been what's holding up.
And then in broader markets,
we obviously had for meme coins,
The main one was that with,
they are just going wild at the moment.
I put up a tweet about that a few days ago,
I think on a Binance Futures listing.
We have a similar playbook for this with Bonk,
which got listed on Binance Futures
and then eventually got listed on Spot.
The Spot listing was the actual top.
And then, but it's been bouncing around.
I saw it was under 400 million now it's for 20.
It's like, it's wild volumes going through there.
which is the dog of the Solana founder
That coin has hit 250 million on some listings
and it just feels like, yeah, Solana,
Solana meme coins is where a lot of crazy activity
is going on in terms of the individual coin space.
Yeah, I think you have a lot of things
going for that ecosystem right now
in terms of like the shit coin stuff.
Like every, there's always like,
I feel like when you're on crypto,
there's always like one place at any given moment in time,
which seems to be like the popular casino
and the casino was like NFTs during 2021, 2022.
You've had periods of like eth shit coins in 2022, 2023.
And then towards the end of last year
with the big rise in bonk,
we had this massive shit coin season on Solana
and ultimately the big difference between that and ethan
is just like a over said thing now at this point in time.
But like, someone who wants to gamble with $1,
they can do it on Solana.
You can't really do it on eth
because of the difference in transaction fees.
So it's not surprising to see that finally take off.
And I think you just needed to see one success,
big success story out of it to attract capital to it.
Now you have the rise of dog with hat,
which people have made tons of money on.
And that's probably like, in my opinion,
given the volumes it's had in the past few days
and it's following the same path as bonk
with the finance futures listing,
like that you would expect maybe a good shot
of getting tier one exchange listings.
And that's that success story.
The second success story is going to again,
attract people back to that ecosystem to try and make money.
And on top of that, you have the whole airdrop thing.
Like you had the whole airdrop thing for eth
you had the whole airdrop thing for Solana right now.
And people made money on Jito,
which then feels like it went back into Solana shit coins.
Then you have the Jupiter airdrop,
which is confirmed for the 31st of January.
And I'm sure some of those proceeds will go back
into that ecosystem as well.
So it's just like, there's just a lot going on then.
I think a lot going for it,
which means that casino I think can continue.
And we will see ups and downs and we'll see different rises.
And, you know, there may be new coins that rally
with each mini season or season or whatever.
It's hard to always judge where to make money there.
But I just think that activity on Solana,
in terms of like it being the casino
and like the DJ and center is going to continue, I think.
I think it's not going to slow down.
Yeah, it surprised me that Solana isn't higher though,
What surprised me is that it seems to still be dominating
the majority of activity.
But then Solana still, obviously it's been on a huge run,
but it kind of hit 104 maybe overnight
and then went straight lower.
I was convinced yesterday that after with what listed
or was rooms of getting listed that we were going to see
Solana just go like teleport up to like 120.
But then it still seems a little bit depressed.
I mean, that's just one coin right now.
So I wouldn't read too much into it.
But I do feel as though that one, if this continues,
if this just day after day after day,
I think that's going to be important for it.
On the east side, there's a couple of varying,
you've got the Manta airdrop, I think happening today, right?
It's got a lot of similar tech, at least a blast,
I think it's Manta is backed by Parachain, I think,
So it's obviously going to get a huge Binance listing.
And I think blast obviously is all the blur guys,
plus paradigm and standard slightly different crews.
But that's a $2.5 billion affiliated market value.
Obviously, it's dropping today.
I think it'll be interesting to see where that shakes out
for anyone who's got their money in blast.
We had a debate about this earlier.
So I think the main difference between Manta and blast,
the tech is not dissimilar in terms of some of the stuff
I think blast has 1.3 billion TVL.
Manta has something just shy of 900 million.
So not huge differences in TVL, native yield.
Maybe Manta has finance behind it.
There's been quite a lot of fud seemingly
about the airdrop process at Manta.
They had a DDOS attack yesterday,
which made it more difficult for people to potentially claim
And it looks as though maybe some of the lock,
even though the airdrop only went up to maybe a few days
ago, if you put your money on there,
you're still locked for the next two months.
So it's like some people who put their money on very
recently have been annoyed that they missed out
And I know I see CBB, the famous blur farmer,
just like fudding them daily, claiming they don't even
But they've definitely had some fud along this process.
The other big thing that I noticed is that they,
I mean, I put out my calculator for I think for blast,
but they're only doing 5% airdrop,
which I thought was quite a big difference.
And I think arbitrum, optimism,
and most people expect blast to be a 10% airdrop.
Do you think this is a big deal for the market here?
For the blast play, for all the ecosystem play here?
I do think this idea of being on a chain that
generates the oil is maybe not focused on enough
I think it's hitting the headlines a bit more now with blast
offering the developer incentives and obviously Manta launching
now and people are becoming wise to it.
For no one, for people who haven't really experienced
this yet, and you probably haven't, for example,
I've bridged my ETH to blast.
I just sent it to the multi-sig.
But now my ETH on that chain just starts earning yield
because they have the implied treasury yield backed into it.
Just imagine you're holding ETH on ETH,
and you're able to actually just earn yield on it
without having to stake it or put it into any specific protocol
You still have custody of your ETH,
but you're actually earning yield on it.
I think that's quite a powerful thing,
If you have one or two ETH, you probably don't really care.
But if you're someone with thousands of ETH
and you're a project with a big treasury or whatever,
the ability to earn 2%, 3%, 4%, I think it's 4% right now
on it without actually having to put your ETH onto a protocol
and still self-custody it, I think is a pretty big thing.
So Manta and Blast both offer these things.
It sounds like Manta was maybe working on it before Blast did,
and then Blast got all the TVL
and was just a bit more aggressive
about taking in the money upfront.
And then Manta has sort of been attacking Blast
in their advertising and stuff they've put out.
So it's kind of like a Manta versus Blast thing right now.
But it's looking at who's supporting who.
A lot of crypto to OG people seem to be on the Blast train
And my guess is that Blast will come at a higher FTV
than the Manta will when it eventually launches,
just because I think they have the marketing stuff down better.
A lot of NFT people don't really like Blur,
but I think no one thinks Pac-Man isn't an amazing builder
in terms of what he's actually created.
Whether or not you like the results or not is a separate question.
And you have the whole paradigm backing and all that kind of stuff.
So yeah, I think that's going to be the one
that's going to be more eagerly anticipated
and fully talking my bags there.
No, I think you're right. I do think it comes higher.
It's obviously got more TVL over a shorter period.
So they've done better at the marketing side of stuff.
It's got different people involved.
I think people can come higher.
I think there are still some assumptions about the airdrop.
The only one that struck me with this one is that it's 5%.
If they come with 5%, I think I would disappoint people.
If they come with 10%, hopefully that's on the screws.
And what I mean by that is normally with an airdrop,
for the vast majority of airdrops,
you normally see about 10% go in the first airdrop.
So we'll wait to see what happens there.
But it does feel as though that could be near term important
for what's going on in some of these L2s.
Arbitrum's still crushing it near its high.
But this seems to have taken the short-term focus.
And then in the NFT space,
it's been really just one thing that everyone's talking about.
Every single day, Pudgy Penguin seems to be higher.
Pudgy Penguin is, I'm just looking at it now on DJs,
but we are looking at a 19th floor right now in Pudgy Penguin.
Yesterday, it was, I think, 16.
It's up nearly 90% on the week.
I think it started a week ago.
What's driving this is a little bit confusing
because I think some people are trying to claim
there is something driving it
and some people are trying to claim that, you know,
it's just the market realizing again
that this is a much better business model
than some of the other ones out there,
We even set up the start of this show
for our predictions for Pudgy Penguins
that it could go to this level,
and it's done it already within, you know, a week.
What do you think of them here?
I saw someone just spent 50 ETH on three different
gold pudgies right as this show went.
Wow. Yeah, I think NFT can very much be a sentiment thing,
and we saw what happened post-blur,
but we also saw sentiment crush many projects like Moonbirds
and, you know, Yuga to an extent.
the sentiment in Pudgy Penguins was incredible.
I think Luke has basically gone out there
and delivered on everything that he said he would,
and they've nailed the marketing
and media coverage over it
and both the Web3 world and the traditional world.
So just like if you own a Pudgy Penguin,
why would you really want to sell it?
Why would you really want to sell it at any point last year,
and why would you really want to sell it now?
Because it just has always felt like the momentum on it
and it always feels like there's more coming,
and Luke has now kind of proven a track record
of being able to deliver them as well.
So, you know, where do they go in price?
I don't know, like, if they go to 50th, 100th, maybe.
Like, I think for it to get to, you know,
the crazy Yuga levels that we saw in 2021 and 2022,
you would need to have a token probably come
to just like turbocharge that.
And remember, like, everyone talks about apes
being 400K or 500K floor,
but that was when you had the 8-point airdrop built in,
which everyone knew would be a success.
And I think for Pudgy to get to, like,
a half-a-million-dollar floor,
you would need to have some kind of, like,
expectation of something like that
to boost its value baked into the price.
Like, it sounds like they're building
this whole Pudgy world thing.
There's a whole ecosystem now,
not just the original Pudgy Penguin, the NFTs.
So everything like that is underpinned by,
in this world, crypto is underpinned by tokens.
So I wouldn't be surprised if that's a direction
but there's obviously a lot of risks to assess,
and giving a token value is one of the hardest things
to do in this space, you know,
like beyond just, like, the initial value
and how do you keep it going.
I think there will flip apes this year.
I think they're on their way to doing it now.
Just maybe at a lower price than people originally expected.
The way they go beyond there is going to be pretty interesting to watch.
Yeah, it does feel very highly likely
they're about to flip apes.
You obviously have, again,
some of the big blur farmers moving their liquidity
You have some big rare sales going through.
Obviously, there's speculation around a token.
I know they're, like, getting a random airdrop as well,
the dime airdrop dimension, I think it is.
So people have been speculating that that could be involved here
because that could be worth quite a lot
because it's for all their zero users
and budget penguins have been involved with that project.
So, yeah, there's a few different things coming,
but it just, I don't know.
Like, if I take a step back,
I feel like they have the best business model
in Web3 right now, right?
Like, if everyone was to start at zero,
I feel like they have done it the best.
Maybe you could argue mad lads have shipped a lot of different things
from a utility standpoint,
but I would say that pudgy penguins have been the most successful
in terms of building a brand IP
and, well, building a commercialized brand.
Whereas maybe everyone's heard of the Monkey JPEGs,
but it hasn't necessarily continued in terms of commercial success.
They've kind of stayed more gaming native
and people start big questions about, like,
whether the other side's going to be successful.
There's been quite a lot of fun around that recently.
So it just feels like a surefire bet with pudgy penguins
that they're doing a good job.
I don't know if that lasts for, like, 10 years or anything like that.
It's very difficult to judge. These things can all change,
but it does feel as though they've been a fairly obvious bet for a while.
I was thinking about tweeting about this just before the show,
which was sometimes it's just so obvious, these bets.
Like, I remember we were talking about ETH just before the ETF came
and I even was like, you know, it just seems too obvious.
Pudgy penguins have been so obvious.
And something that I think I need to appreciate a little bit more on crypto
is just that the obvious trades often, they just happen.
Like, the market is so inefficient and obvious at times
because everyone's trying to de-gen on the next thing, like, so often
that actually just playing the obvious trade at the right time
is just the right way to go.
Pudgy penguins, they've been obvious since 5E, 4E,
and yet, you know, they take a year to get to 20 ETH
and they're probably going to keep on going now.
Like, and they'll probably still be obvious
and we'll look back and be like, oh, why didn't you buy them there?
And it's the same with the coin narratives.
They're just so obvious and yet you don't pull the trigger.
You go after something more de-gen and you kind of look back
and be like, I should just play it safe with the obvious 4X
while I've been going for the unobvious 100X.
Yeah, yeah, I understand.
Things always feel more obvious in hindsight, though,
than they do at the time.
I guess it's just like, now we're in this paradigm
where it's not really like, where can you make money?
It's like, which thing is going to make me the most money?
That's where we're at right now, so...
In that vein, what do you think are the obvious trades?
The obvious trades that people are not looking at?
In just in the whole space?
I don't know if there's, like, obvious trades
that people aren't looking at because...
I feel like Solano is one that feels like...
We're going to look back and be like, it was obvious.
It was going to go to that level.
I didn't say Solano, but I think everyone's looking at it, right?
I don't think no one's not looking at it.
Yeah, but what I guess...
People aren't looking at it like Ethan Maxis, but...
I feel like Pudgy Penguin in NFT space
is probably one of the more obvious ones.
100 grand plus, suddenly they can be picked up.
Actually, I had a full-on normie
ask me about Pudgy Penguins the other day,
and I was like, that's weird.
That's the first time I've had somebody talk about an NFT brand
that wasn't in the NFT space,
and she had literally zero clue about NFTs.
She was like, oh, I've been talking to someone about these penguins.
I was like, oh, yeah, what do you mean?
She was like, oh, yeah, I really like that they're all giffy or whatever.
So it just feels as though they're going mainstream,
and you just can't really...
I don't know, you just can't really downplay
that that can keep going.
it's kind of a bit more obvious what the top ones might be.
We were talking about Solano,
but it feels like some of the other bigger ones recently
Oh, I guess say it's an L2, maybe in TIA,
but they seem like kind of obvious trades now.
But it's at that point in the cycle where if we keep going,
I think we've already almost decided.
You're early enough to know which ones the winners are probably going to be,
and now it's just to see how long they're going to run.
So I don't know if there's any...
I think Memecorns is a little bit difficult to talk about
because it's so transient and once you get that final listing,
it can kind of die or take a long time to consolidate
because we've seen with Bonk or Pepe or any of the others.
But yeah, that's what I'm going to be looking at.
I'm going to write down my top five trades for this cycle,
which are just obvious and will probably keep going
if the cycle keeps going because if that happens,
then these things can still do a 5x, 10x, whatever.
I think you're right on Solana.
I think it's showing its hand and of the other chains,
it's the one with all the activity right now
and still has plenty of air drops coming and the real TVL.
And I think you're right.
I think we're going to look back in six months or a year or whatever
and just think, wow, Solana, that was just so obvious.
It reminds me of March 2021
when we first started collecting NFTs on ETH
and we were just doing all this stuff for coins,
ELC20s and NFTs and all this different stuff.
And we were like, man, we're just using ETH every day.
How is ETH still at 1200 or whatever it was or 1100?
ETH should be way higher than this
and then ETH went ahead and tripled over the next few months.
I can see something like that happening on Solana, I think.
And the market cap of ETH then was much higher
than the market cap of Solana now.
so it was at a $150 billion market cap in Solana right now.
I guess Ordinals might be another one though.
It's still a little bit early to work out what to buy
I'm looking at these puppets, man.
I keep on looking at them.
There's a good dip in them actually
but I just didn't have the balls.
I didn't have the balls to sweep them.
So I'm potentially in the puppets market, who knows?
All right, look, I think that's it for the show potentially.
I think, yeah, look out for the different man to drop today.
I think that's going to define short-term trading
for a little bit, how people do.
It looks like that crypto undead's mint hasn't really gone as planned
but they may be a reveal.
I think they're trying to move stuff a little bit forward,
like that crypto undead's mint.
Where are they trading now?
So they kind of stuck where they were.
But yeah, they're holding on.
It feels like the volumes have definitely gone down.
Open Sol map is the number one project in the moment.
But yeah, it feels as though that's going to define short-term sentiment.
Hopefully we see pudgy penguins continue going, continue going.
It feels like they're on their way to have a fight with H
around 24 or 25, doesn't it?
It doesn't feel like if you own a pudgy right now,
you're not selling, right?
You're just a bad guy if you're selling them all.
But bad girl, you don't sell.
You don't sell at 19 when the difference is only 4 or 5E to support apes.
So yeah, we'll book that for next week.
For today, thank you again, Leja, for sponsoring the show.
We use them for all our security stuff.
And we will see you tomorrow with Faroq.