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FOMO HOUR: Bitcoin Bulls, Mastercard’s Stablecoin Bet & Crypto Yield 📈
Recorded: April 29, 2025 Duration: 0:59:10Space Recording
Short Summary
Crypto markets are experiencing a bullish trend with Bitcoin's price surging, institutional investments increasing, and new token launches on the horizon. Arizona is set to become the first state to establish a Bitcoin reserve, while MasterCard and Ledger are innovating with new financial products, signaling a vibrant future for the crypto ecosystem.
Full Transcription
Thank you. Thank you. GM, GM, everyone.
Thank you for joining us here this morning.
We're going to start the show in just a minute.
I want to give a couple shout outs. DJ, Bongo, English,
GM, Elder Mill, Castro, Imlo, J, GM, GM, Trey, Bill, Kijipash, Shallow, Chameleon, GM, GM. Thank
you for joining us. All right. We're a few minutes over. Sims, whenever you're ready, let's kick it. Thank you. Good morning. Good morning, everyone. GM, GM, and welcome to another episode of FOMO Hour.
Today is Tuesday, April 29th, 2025. And folks, it's another green morning out there with crypto
outperforming once again.
More headlines of funds and institutions piling into Bitcoin.
We're starting to get bulled up here on this show.
Some are calling for new Bitcoin all-time highs in Q2.
And the question, are they right?
Or are the bears going to win this round?
We're going to break it all down on today's show no faroq but we've got mando power is back
baby so back uh and logan as well mando jim how was your power outage situation yeah that was nuts
like uh fully fully nuts i was like laughing about it at the start because you're like oh the power
come back and then it suddenly came through that was affecting the whole country and it was
affecting spain and france and i was like oh god um and i i just wasn't prepared uh wasn't prepared
like we had some stuff but nowhere near the amount that i thought i i realized i needed
and you know it's that point where after, like, 10 hours,
you realize your phone's about to run out.
And you're like, what are you meant to do right now?
And then I was like, I'll go charge it in the car.
And then I realized the car's only got, like,
four of a tank of gas.
And I was like, wow, like, the power goes out.
Stuff can really go.
So, yeah, crazy 24 hours.
It did come back like late in the evening last night where I am,
but like it's across Portugal, Spain, France.
We still had some issues.
And some people have been affected by water here because
they pumped the water from the ground
in certain places around here
and the pumps weren't working
and it's definitely
definitely
almost like
a disaster movie when you start thinking about
if this went on for another week
it can really get bad.
Yeah.
I saw your tweet.
The power was screwed.
It's a bit of a reality check.
I was following it loosely throughout the day.
I mean, even into like American afternoon, evening time,
it wasn't clear that power was going to come back anytime soon
from the messages that I was seeing.
They said it could take a week.
Yeah.
Which it still can.
There's still no power in some areas around here.
It was some weird thing.
It seemed kind of innocuous that it just got taken out,
but that's the kind of scary thing about it seemed kind of innocuous that it just got taken out but that's the kind of scary
thing about it like one power line in spain takes down everything it took out like part of the paint
part of the power in like belgium and and the netherlands um so europe europe i think uh
fragile because you're all on renewables so like europe's been big on renewable Europe, I think... Fragile.
You're all on renewables.
Europe's been big on renewables.
And I don't know the exact science behind it,
but there's something to do with the fact that renewable energy can't be used in these sort of moments.
So once it goes down, it often can't be used and like
resurge it back up um just the way like i think she can't store it in the same way or something
like that but before in the hours before it went down like spain's spain's energy was like 60%
was coming from renewable sources at the time and then then it goes down and then you can't just get it back up again in the same way.
Have they figured out the reason?
I saw some tinfoil hats, of course, on X that it was.
Yeah, I don't know if it's really bad translation,
but they said it was like an extraterrestrial phenomenon
or something like really random.
Like a solar flare.
I saw clips of something,
like a spherical orb passing between the Earth and the sun.
There's been quite a lot of talk about that solar flares are up quite a lot
over the last year,
and they're going to be just the way the cycle is they're going to be quite big for the next few years and yeah just
other stuff like global warming maybe may have been slightly responsible for it like i who knows
but it was more it just pointed to the fragility in the system and also the idea that if power was to ever go down,
yeah,
it can get,
it can get dicey.
I'm with you.
I think it's a good wake up call.
I went through your list.
I said to my wife,
I was like,
we need to go through this.
I think it's a little bit different when you've got a family too,
right?
I think if you're,
if you're on your own,
it's a little bit different calculus. Uh, we had too, right? I think if you're, if you're out on your own, it's a little bit different calculus.
We had about a half the things on your list, I'd say,
but definitely not all of them.
So a bit of a little bit of a problem.
Suddenly you're just like, oh God,
like you realize that actually most of your devices last a day, right?
Most of your handheld devices last a day.
And then, and then you're really just relying on power, but you're always like,
I'll be able to power it up.
But I could have driven for 15 hours yesterday and still not had power
because it was all the countries in the area.
So it was like, and you can't fly out. All the airports are shut, right?
All the airports are shut in this scenario.
All the petrol stations are shut just so everyone's kind of aware because they can't pay
so you're you're like in your mind i think everyone has like i'll i'll be able to get out
if something bad happens but actually like the petrol stations are shut so you only already
have the petrol in your car and the airports are shut then it either descends into lawlessness or you're kind of just staying where you are
and hoping for the best.
So that's why I kind of said,
like, after 48 hours,
I think you probably need a weapon
because, like, the police said
to stop calling us yesterday.
So I don't know.
You can tell it can get bad pretty quick.
So you're sitting there.
Your phone's about to run out. You can tell it can get bad pretty quick. So you're sitting there. Your phone's about to run out.
You can't go anywhere because you have whatever petrol's in your car at that time.
Airport's closed.
Railway's closed.
Buses are shut.
You're just sitting there hoping the power comes back on.
But it's really sunny.
It was a beautiful day yesterday. So I was like like this needs something to keep the power going yeah i think having the the
backup generator is probably number one on the list i'd say if i didn't stack rake those items
because that solves a lot of the problems um i think logan we were chatting like this is actually
something like i i'm quite familiar with this so where i grew up in indiana we would lose power three times a year um of course that was back but that was pre-devices and like addiction
to devices so we didn't really i mean even like personal computer we had a personal computer
but this was still like dial up internet um but yeah logie well made up first off we're happy you got the power back happy that you made
it through uh the power outage with no significant issues logan still in peru he's got the yellow
background assuming power stayed on there gm how you doing yeah power uh power's on here i do have
some history of course with power outages from rural pennsylvania um Not quite to the extent of multi-day, but I've had to pass a day
without power. So it's not fun. And I'm not sure my family would be equipped either at this point
in time. Although the isolation, I guess, helps with some of it as well. But yeah, things are
going well here. Last week in Peru, beautiful weather, feeling good. Market's green, nothing
to complain
about we're glad to have you back folks what are we talking about today we are going to talk about
more than how to survive power out of situations i do promise you that so we've got trump creating
strategic uncertainty in global markets here this morning crypto is looking strong outperforming
here to a degree massive etive ETF inflows continue.
Arizona may be becoming the first state with a Bitcoin reserve.
MasterCard launching a full stack stablecoin initiative.
Ledger and Coinbase offering new yield.
Nikita Beer touting clouds new token launchpad.
Didn't see that one coming.
Crypto AI doubling in the past three weeks. Memes continuing to pump in a couple of NFT stories.
Plus, we've got double Yeet action today as well.
Yeet is back.
So make sure you stay tuned for that.
The raffle block code will be YEET50
to celebrate $50 million in volume on that Yeet platform.
How about that?
Nice little milestone.
Before we dive in,
we want to give a shout out to Wallet Connect.
Wallet Connect is the connectivity network shaping the future of on-chain UX. If you've connected to a Web3 app,
you've seen Wallet Connect, that blue logo. It's everywhere. An icon of trust in crypto,
as recognizable as Visa at the checkout. Want to learn more? Follow at Wallet Connect on X
and Telegram to stay ahead of what's next. We love our partners as always. All right,
Amanda, without further ado, let's get into it.
Who is the man, macro daddy of the land?
Can you dig it?
So I have to prefix this by saying I wasn't really paying attention to the market much yesterday,
but the market seems to be kind of where I left it.
It feels as though Solana may be slightly underperformed
over the last 24 hours, which I think is slightly surprising.
ETH going higher is often seen as like a bit of a bearish sign when it
starts to outperform. And ETH is marginally outperforming right now. But broadly, we look
kind of flat. The big news that I saw really has been like ETF inflows have been very, very strong.
And then coupled with some headline news, which is Arizona, looks like they are going to do an ETF reserve.
And it looks like South Korea may also similarly be moving towards ETFs by the end of this year.
So adoption of crypto seems to be going higher.
But yeah, it feels like Bitcoin is just kind of holding on to where it's been for the last few days,
this kind of 93 to 95k area.
I'd be very unsurprised if it has to retest like 90-ish again before it has to go higher.
It's been remarkably stable, having made that like 15% gain.
And it hasn't really been tested that much. 15% gain. And
it hasn't really been tested that much.
It kind of got bought whenever it hit 92.5k.
But what we've really seen
with Bitcoin going sideways has been
kind of the trenches coming back a little bit.
It's like what you said.
It's what you said, Tyler.
So you've seen the AI sector's really come back.
$9 billion for the AI sector is pretty impressive
in my opinion. It's come back to that sort of level um big gains in virtuals and ai16z over the last
24 hours um one of them's on listing virtuals just seems to be grinding higher and farquand
obviously had its move before that but yeah just a decent move across the board in a range of those coins, which I think is getting people more bullish.
And then on the meme coins, they've been more mixed.
I think some of those gave back a few more of their gains
over the last 24 hours, but Pengu's had a very strong period here
and kind of relatively held on to the majority of its gains as well.
And then you've had some like mid tier runners,
which just is a good sign,
I would guess for the,
for,
for general risk sentiment.
But I've been,
I've been impressed.
Let's say when I took turn back on all of my power to see everything kind of
unchanged and pretty low volatility, it it's a it's a good sign
macro i haven't seen anything more we've had like a period here of stocks recovering i think it's
been five straight days of green for stocks which which has been good as that back above comfortably
above 17k there so that's been a decent move and then the s&p's
been bouncing as well i don't i think everyone is just waiting for for some talk about trade deals
that most obvious ones would be with the uk and india it feels like and potentially south korea
there's been some talk about or japan so maybe we'll get some there. China is basically saying there's not even any talks about a deal going on right now.
So it doesn't feel like China, US, as I've said several times, is close to a deal.
But other countries may be much closer.
You had the Canadian election happen yesterday.
Carney won.
I don't know how that's going to be taken.
I don't think there was like a big, big view on markets there.
Just that he's going to be less friendly, let's say, towards Trump.
And he's potentially a less crypto friendly president as well.
So, yeah, that's your news.
Thanks for the roundup.
As always, I want to dive into a few of these here.
Maybe just starting with Bitcoin. I think you nailed it. As always, I want to dive into a few of these here.
Maybe just starting with Bitcoin.
I think you nailed it.
We've been green.
I feel like maybe it's just this bearish mindset,
just waiting for it to dip again,
because we've had this few weeks now of continued... We were pretty stable at 85K,
then we leveled up to 95k and kind of just hanging out here
um sailor bought we saw yesterday the announcement he bought 1.4 billion dollars worth last week
at like 92 700 or so average i did see some chatter on x that maybe he was he's running out of ammo? I haven't looked into that myself. But if sailors running out of
fresh capital to buy, is that perhaps somewhat of a near term bearish indicator? You landed on the
ETS. I mean, wild. I was watching this last night, so I was curious how Monday would go.
It was looking very red until the Friday IBIT numbers came in,
and they were biggest day in months with nearly a billion
in the BlackRock ETF alone.
So pretty substantial there.
And we've had – so yesterday I talked about Kathy Woods'
20-30 price targets, but Standard Chartered came out,
and they issued – they're calling for all-time high in Q2, 120K.
They're not alone. Bob Lucas is back. Bob's been a little bit – I mean, I think he's a pretty And they're calling for all-time high in Q2, 120K.
And they're not alone.
Bob Lucas is back.
Bob's been a little bit.
I mean, I think he's a pretty objective guy.
He follows the charts.
He does his TA.
And he tries to make predictions based off of that in his system.
He'd been leaning more bearish for the last month than yesterday.
His first bullish post that I've seen out of him in quite some time. In fact, I went back through his timeline this morning. I don't think he really had many
bullish things to say at all in the month of April. He's saying we are back in the four-year
bull cycle uptrend. This weekly cycle, we are on week four of 15 uh expect to play that out
projecting that we would potentially make new all-time highs here over the next 11 weeks which
is q2 basically so aligns with standard chartered model um mando curious uh any reactions to that
on your side if you think that's a little bit
premature to call for all-time highs and in q2 how does that line up with your current base case
mental model right now it lines up pretty perfectly if i'm honest i kind of said that i
thought you know we could be in this range for six months from when we started and the Q2 breaking out would be,
would make sense.
I think,
you know,
you can look at this from this angle.
You can look at this from the global M2 correlation.
You can look at this from just general sentiment.
Like it doesn't,
it still feels like it's just us again in crypto.
And that's normally a good sign, in my opinion,
like not a terrible time to buy,
but you just have to have a long enough time horizon.
So I think if Bitcoin was to break out towards all-time highs again,
it can get quite frothy again quite quickly, as it always does.
And I think, interestingly,
you've already kind of seen some of those
memes move already.
But yeah, I mean
I think you kind of know the ones that you'd want
to own if
this continued. Yeah, I think we're
starting to see that. On your six-month
comment, man.
It's almost been
five months. I guess
I didn't realize it. So November,
November 21st,
we hit 98 K.
So you could paint the case that we've already been in this for over five
months now.
So into May,
six months,
freak out in the new range,
man.
That's what I mean.
We really kind of ended it in December,
to be honest. Yeah. That's what I mean. We really kind of entered it in December, to be honest.
Yeah.
That's when it fully started.
We made the huge move up in November post-Trump election,
basically the whole move in two weeks.
Yeah.
And then kind of entered that range.
Then we lost that range, chopped down our back in that initial range.
initial range. Logie, I see you're nodding your head. Curious for your thoughts and reactions
Logie, I see you're nodding your head.
Curious for your thoughts and reactions here.
here. Yeah, it is wild to consider that despite all the bad feelings we've had, maybe not this
week, but the last month or so, that it's just been kind of in a range for the last six months.
It's really not so bad when you zoom out. It's cliche as that is. I don't have too much additional to add.
I was just thinking back to, you know, you talked about the ETF inflows.
And I know you mentioned you talked about Cathie Wood's price targets yesterday, which
absurd or not, one of the inputs for those predictions is just the continued adoption
of the ETFs, of people continuing to pile into the ETFs.
of the ETFs, of people continuing to pile into the ETFs. So as you see that, as you see more
inflows day over day or, you know, wherever the case may be, just kind of, you know, I can get
behind that. That makes sense to me as a vehicle, especially because I've seen it anecdotally as
well, right? Like people in my family, my own father, right? Gaining exposure to Bitcoin and
things like that through the ETF. So it makes sense to me.
And for that reason, you know, maybe not, I don't know, I can get behind the 2.4 million
by 2030, but I can definitely get behind the bullish sentiment that is attached to, you
know, ETF accessibility or, you know, wherever the case may be.
Yeah, it is interesting to see.
It's kind of hard to argue with with a lot of that logic right i
mean price targets aside they're they're her base drivers and arcs base drivers certainly made sense
you mentioned etf flows we talked about those the other piece is just institutions and funds
continuing to pile in and we got the news this morning grant cardone cardone capital is set to
acquire a thousand bitcoin that's $100 million.
Just add it to the laundry list.
I feel like we're seeing these on a weekly basis.
I talked about this a lot on my solo show yesterday.
The other aspect we're getting, and Mando, I don't know that we've really had a chance to talk about this because it took place on Friday.
But the institution is now starting to pile into Solana and Seoul.
So Janover, previously Janover,
now they've changed their name to DeFi Development.
They dropped the bombshell on Friday.
They're going to raise $1 billion to buy Seoul.
They've already bought about $50 million worth of Seoul
for their corporate treasury.
So they plan to buy up to 20x that.
It feels like a big deal. That's a big
number for the Solana ecosystem.
And they're not alone.
Curious if you have any thoughts.
Why doesn't that happen with ETH?
Why do they always buy soul?
What's happened with ETH?
It's interesting.
It's kind of crazy, right? It is crazy.
I don't have a great answer.
I think this is a good sign for Solana.
As I've said before,
my thesis around L1s is less constructive
than I've ever been when I've been in crypto
just because I just see this massive adoption of stable coins and I just wonder whether that's
going to really affect some of these L1s but I think it's Solana's
keeping keeping track with Bitcoin all the way up which I think has been a very
very strong sign I mean it's slightly underperforming today, but overall, I think you've got to be pretty happy.
Yeah, I would agree. And I want to get into perhaps going further out the risk curve.
In the scenario where Bitcoin makes all-time high, what else moves along with it? I think
we've started to see signs. Before we do that, just a couple of the stories. Arizona set to potentially approve their Bitcoin
strategic reserve. This feels like a big one. So it passed in the House yesterday. That was the
news. It is now passed in the Senate in the House. It is on the governor's desk. I think there are
concerns that the governor is going to veto this or not sign it.
It does feel to me that the governor perhaps has more on the line as the
final approver of this than perhaps individual
congressmen in the House and the Senate.
And as much as from a bullish
Bitcoin, want the number to go up,
and what would this mean for other states to potentially follow their lead,
want that to happen, are the downsides bigger, worse than the upsides are in this scenario?
Let's say the bill they're talking about investing 10% of Arizona's, uh, treasury, which I believe is around 30 billion.
So about 3 billion or so fairly substantial amount.
I mean, let's say Bitcoin goes up 30%.
They make a billion on that.
I think you see some nice feedback.
I don't know that you see a whole lot of headlines around that.
In the scenario where Bitcoin goes down 30% and they lose a billion dollars,
I feel like there's more negative headlines in that scenario.
Logan, I'm curious for your thoughts on this.
I think it's going to pass.
I'm with you. There are definitely lingering cons that no one, when we're discussing these bills, at least in the crypto
echo chamber, we're not really ever talking about. So I totally see that world, Tyler.
I think it mentions in this article from Vince that, you know, she had previously said maybe
recently that she wasn't going to sign anything until they had a budget resolution, but they may
have just gotten one. But there was no update on it. So it may not
have anything to do with, of course, her feelings on crypto or whatever, but just general
politicking more or less. But with all that aside, I definitely understand the risks. There are other
risks here. Custody, things like that, who the hell knows? Obviously, you'd hope
that a state undertaking something like this would, you know, be using the most trusted,
utmost, you know, best possible security solutions, whatever it is, you know, custodying
with Coinbase, whoever it may be, right? But there are lots of hidden risks in something like this.
And you don't want to be the first one to mess it up and then one you probably ruined it for everybody else uh you know it might be the nail in the
coffin and two of course you would you know very very much negatively affect your citizens
and your constituents so i definitely understand the risks and the the potential unwillingness to
kind of be the first but i do think when the first happens, that's when you,
you know,
you start to see some of the more,
so the other dominoes fall.
Yeah.
I think that's a fair take.
So we'll certainly see.
It'll be big news.
Probably regardless of the decision here.
So I think if this one also fails,
it'll,
it'll add to the laundry list of states that haven't been able to push this
over.
It'll feel,
I think Arizona has been one of the leading horses in this race
to actually get this across the finish line.
So if they fail, I think it's going to paint a bleaker picture.
But we'll certainly see.
I want to go back to that question of Bitcoin all-time high in Q2.
What else is pumping?
Are we surprised at the AI?
We did this last time, right?
We did this when Bitcoin was right? We did this... When Bitcoin was at...
What was it?
About 60K?
We said,
what are the things that you would own?
I think at the time I said,
Mog,
Goat,
and...
There was two others, I think.
Maybe it was Pepe.
And... Was Fog in there at one point? point i think fog was in there too yeah yeah and they all basically did a three to four x although they then got trashed afterwards
but if bitcoin now is to go to 110k let's say yeah 115 120 what are the assets what are the three things
that you would want to own Tyler
number one is Farcoin of course
I think it goes without saying
it goes without saying
I think from a more
from a safe if you want to bet
on crypto AI I think
the play is virtual right now.
It's probably the token I would reluctantly own.
I will admit I haven't ever had a large position in that.
I'm more sold on virtuals leading an AI pump than AI 16Z right now.
I would want to bet on the leaders in that category and not go further
downstream. Well, I guess, let me, let me say that back. I do own prompt. I think prompt is a fair
bet on the crypto AI round two. So I'll make that my, I'll make that my call. I think virtual would
be just fine. From a pure meme standpoint standpoint or what else would i want to own
uh man this is the other things of the hype would be one yeah budgie would you would you buy i mean
radium actually just has made like 600k of fees from this from his launch pad in the last three days. That's suddenly looking interesting to me again.
Some of the L1s.
I was going to say,
SWE's interesting hype is...
I mean, hype's back in 19 already.
That's the thing.
So what is...
Are you looking for a 1.5x?
Like a 3 to four X?
I mean, maybe a three to three X is possible.
It's kind of hard for me to see a much bigger run than that right now.
That's so huge. And that's a, that's a huge trade.
Pingu is an interesting one.
Logie, what would be top of your list?
It's crazy, but... Well, no, it doesn't sound so crazy,
but Farcoin is the immediate first thing that comes to my head.
I think I own 100 Farcoin on a ledger somewhere.
So that's all I'm holding right now.
But that's the first thing that comes to mind
if you tell me that Bitcoin is going to hit a new all-time high,
you know, in Q2.
The other thing to me, you know,
so like Solana is interesting along those lines.
I mean, it's still very much beaten down from all-time high,
which is what, 290 or something.
So I could definitely see that falling too.
And then as you get further down the risk curve, some of these become interesting.
Like I'm no longer interested in things like Whiff, for example, Dog Whiff hat.
But things like Trump alongside that, things like, you know, like I could be swayed into
stuff like that. But the most
obvious slam dunk one to me,
which maybe is
me talking to myself that I should
own a little bit more than 100 tokens,
is Farcoin.
If it's really going to go up,
I don't know. It just feels like a slam dunk.
But I like a couple of these
here on this board, Tyler. Dogecoin,
I still like uh i've never
really had any affinity for like shiba inu or anything like that but there's another i think
there was a headline this morning about another doge etf filing or something like that feels
silly but probably one of those gets across the line maybe that doesn't mean too much but
it is still the champion of meme coins um at least in my book, and by market cap, of course, as well.
That Doge chart looks interesting right there.
Looks like it's painting higher or low here.
It had the explosive runoff.
Say that again.
Sorry.
Are we about to see a cup and handle here let's see uh
it's fine the time the time frame where there's a cup and handle and go for it yeah it looks like
maybe on the the six week on the six week chart we might have a couple like is it like my house
going like i have a very small position in this thing.
Now we're talking my language.
Yeah, so is it a new meme?
If you think there is going to be a meme rebound. A new meme will probably run the hardest, right?
I think that's a very fair thesis.
I think a few things are going to happen.
I think we will see a flight back to some of the top meme coins,
top in quotes.
And I think it's going to be a little bit of a new classic.
I don't think WIF is going to be a leader again in 2025.
I think it's going to do fine.
I'm not saying to short it by any means,
but I don't think it's going to go back to four.
I think perhaps some of that new class could see some runs up. I do think Pingu is going to have a nice run. I think Rex is going to go back to four um i think perhaps some of that new class could see some
runs up i do think pingu's going to have a nice run i think rex is going to have a nice run
um but what's going to be the new coin to emerge from the solana trenches i think once a quarter
we see one we really haven't had one what's the i mean i guess we had to separate pre-trump and
post-trump post-trump we haven't really had a, since the fallout,
we really haven't had an organic new runner from the Seoul Trenches, have we?
That's had any kind of a staying power?
No staying power.
Were there maybe a handful right after?
Was Jelly Jelly after Trump, or was that before?
I'm losing track of.
Yeah, I think that was before.
Okay. Nothing was staying power, though. After Trump or is that before? I'm losing track of. Yeah, I think that was before.
Okay.
Nothing was staying power though.
You know, beyond a few days.
So it's pretty open.
I mean, if you look at what's currently out there right now.
It's really, there's the, all right.
Maybe trolls in the conversation. The troll seems to have a decent group of folks behind it.roll's in the conversation.
Troll seems to have a decent group of folks behind it.
It's at $30 million.
We're showing Housecoin at $60.
It's a little bit higher.
Bonk guy's touting Hosoko super hard right now.
It's at $33 million.
I don't really know the story behind this one.
He's saying it's got a lot of views on YouTube or something.
Okay.
I don't know that I'm throwing my chips on Hosoko. Sorry to the Hosoko
crew out there.
But I think this is what I talked about
yesterday, but there's some action here in the
trenches. And as these new coins are moving up,
we're starting to see more
runners on a daily basis kind of fill in the gap.
So I looked at the board this morning, and there were four to five coins in the last day that went to that $3 to $6 million range.
So they're not going to $10.
They're not going to $20 on the first day.
That first day cap is a little bit lower, but they are starting to happen more consistently.
So I think it's something to pay attention to.
Certainly.
That's the Salon meme board in AI.
I think it's more of a question of,
is it going to be a new AI runner that really takes the scene or is it
going to be the existing crowd?
The virtuals group is starting to get pretty loud at this new,
I think it's called Virgin,
this new program where you can, you have to do something
and then you qualify for these pre-sales. And the pre-sales have been doing pretty
well, as I understand. I have not had a chance to dig into that yet.
I know ICO and others have been counting that pretty hard. Certainly, this virtuals looks
pretty nice. It's up almost 3x off the bottom here, back to
$1.46. it it's doing pretty well
um the rest of the board
is doing okay we we aren't seeing like this huge movement arc is back to 65 graphene's right there
um yeah this isn't my watch list.
What else is moving?
Alchemy has been doing all right. It's at 150
million. Goat's hanging out.
I think Prompt is an interesting one,
but it's got the weekly sell pressure, so that is something
to take into account. I don't think we've
really seen the huge unlocks from that yet,
though, so I think that will still be
my wild card.
It feels like the winners are winning
and everything else is not really doing much
and there's no new launches really
which is a part of this
so virtual is a new launch pad is that what this is?
it's
just a better casino essentially
Logan have you had a chance to take a look at that?
just very briefly
it appears to be a more or less like a pre-sale launch pad.
So you can utilize the virgin points to sort of try and subscribe to new agents that are created in a little bit more of a fairer mechanism.
That's my understanding.
I'm sure there's much more nuance and things I may not be
characterizing there, but
just more infrastructure
stuff, slightly re-
worked infrastructure for agent
launches.
I think with all
these sectors, you kind of just have
to look at what happened to the biggest coin.
If that's up, then
some crazy stuff can happen in the mid-tiers like trump doubled basically and that just means that
there's a lot of money suddenly in solana meme coins again um and similarly tau i would say is
the biggest ai coin and is up a lot and then that just means that people start gambling and all the other coins
yeah wow what a move almost a double in tau up 66 on the month so the the leaders
create a big move in market cap a bit of a wealth effect and then it trickles down we've seen that
that play out new wild card logey I know we were chatting about this. Internet capital
markets are back. I'm not sure if folks have seen this yet.
Imran Khan and AllianceDAO
they're sharing this concept behind the Believe app as effectively
on-chain Kickstarter. Kickstarter for ideas and projects. A founder
can come up with an idea, post it with this
launch a coin, a token is created, and then
based on how it's traded, fees generated, that founder can
decide to effectively launch the product or not. Can you take us through this one
in your early thoughts? Yeah, so it appears to be
basically a relaunch of clout.
If you remember, I guess that would have been, what, December or early January clout from Ben Pasternak.
Never really launched.
But this appears to be its revitalization, rebrand, whatever.
whatever. But exactly as you described, Tyler, and as Imran lays out here, so somebody can
But exactly as you described, Tyler, and as Imran lays out here.
have an idea for something, sort of outline their idea in a post just like this, and tag
that Launch a Coin Twitter to create a coin alongside it, more or less, a coin attached
to the idea. You can also have people scout ideas. So if you posted an idea, Tyler, a really, really long one, somebody could,
you know, kind of reply or scout and attach a coin to that idea as well. And just like anything else,
right, the token trades, earn fees for it. And then the person who created or owns the idea,
then yes, can claim the fees. They are vested, I believe.
But reading through some of the replies from Iran,
it appears that more information is going to come out.
But there is some vesting related to the idea owner here.
So it's not just like you can just take the money and then run.
But yeah, it's on-chain Kickstarter, more or less.
And there were, I think, three or four launches yesterday.
Yeah, here's the tweet.
It was like that luxury furniture company.
That token was at like $4 million when I looked before the show.
So some of these have done quite well thus far, I would say.
Much better than some of the initial launches that came from, aside from the Pasternak coin,
much better than any of the other tokens, I believe,
that launched on cloud to start.
I guess the core differentiator here then is launch a coin,
but it's not just for pure shit coins, meme coins.
Right, and it's not just tied to the individual.
These aren't just like creator coins, right?
It's intended to be tied to the idea or the product or whatever.
So in the case of dupe, which I don't know anything about,
I'm just using the description affordable luxury furniture, right?
Guy writes out his theses, I imagine, or something like that, right?
Showcases any previous sales or whatever else he's done. It's kind of like, or something like that, right? Showcases any previous sales
or whatever else he's done. It's kind of like Shark Tank in a way, right? You sort of like,
or it feels like it could be like that. You're just like pitching your Twitter crowd. And then
they can, of course, buy the token, earn the fees, and the creator can then use those fees
to actually build the business. And of course, you know, I'm not entirely sure how some of the...
I guess the token is designed to be the equity,
if you extract it enough from the initial idea.
How do the people win?
I guess the token going up,
but there's that angle of speculation here
that I feel like still doesn't quite answer
for the overall idea,
if that makes sense. It does. I think that was my first struggle
with it, just as a conceptual basis, is
why do you want to buy the
token before there's a product?
You're kind of just betting on a founder that you perhaps don't know who hasn't built the product yet. So I don't know. I mean,
it's very, very early stage investing, I guess is one way to look at it.
Yeah. Well, and with, at least with the way that Kickstarter works, right.
Is like, if you, if you're engaging with the Kickstarter,
you're entitled to select benefits typically, right?
Like you get the product early or you get like a special version of the product, things like that.
I imagine this will have some component of that as well.
So if you were buying Duke early, like maybe you get a huge discount on luxury furniture or maybe you get access to luxury furniture.
Like that actually makes sense to me, right?
You know, Kickstarter, of course,
has been very, very successful utilizing that almost exact same mechanism.
I just don't exactly know life cycle of the token.
That's the big what if for me.
It's like, okay, you've invested early
because you think the idea is cool.
The token and the fees are vested
so the founder can't just take them and run.
Like, I get that.
Okay, I'm on board, I'm tracking.
But like, what's the allure of maintaining exposure
to this token beyond, you know,
three days of speculative fervor?
I don't know.
That's the part I'm missing right now.
Maybe that's spelled out in, you know, a variety of these posts that aren't coherently strung together. I don't know. That's the part I'm missing right now. Maybe that's spelled out in a variety of these posts that aren't coherently strung together. I don't know. But it does seem there should be more information coming. Very successful launch, though. I think Ben said $60 million in volume or something crazy like that on the first few tokens, hundreds of thousands of dollars raised in fees for these idea owners, project founders, however they'd like to be
recognized. So that's cool. And I'm all for experimenting. So no knocking this in any way.
I just, I don't, as someone who would consider participating, I would be participating right
now for the speculative fervor in the very beginning, right? Looking to get in and out, capitalize on people being excited about a new thing versus, you know, actually being interested in these ideas
and the future of these products, which is a little unfair, of course, but like, that's just
the honesty of, of what many people participating probably are doing.
Yeah. You take a look at how their, their bonding curves work and all this. Like,
are you able to invest at like a hundred K market that feels too low and like as a founder you wouldn't
even want to give away equity token equity in your company at such a low valuation either right so
there's some details it feels like they're still kind of working through a lot of this
it kind of feels like they kind of launched it to see if it would have any demand and it has
so perhaps they're going to go back and revisit some of the details which makes sense
but three products already launched in the first day we saw dupe see 30 million dollars of volume
so it's big i think these founders are going to quickly learn
that they want the token to do well they're going to have to manage the product as well as the token holder expectations, which we know can be quite the job.
There's also, and maybe this is not as much of a worry with the current administration,
but I think this type of idea or the raising of funds for projects via token launches, that's been around for a long, long time.
Jelly Jelly just kind of did something similar to that
not too long ago.
But there's obviously some actual regulatory
potential concerns here.
You can't just sell equity in this way without...
I don't know.
I guess they're not calling it equity, of course.
I don't know how it differentiates itself.
I mean, to me, it's a proxy for equity or whatever.
So I don't know.
If it's not, then what's the point of buying the token, right?
You're just betting on how viral it's going to go.
I think what's interesting about dupe,
and I saw this in some of the replies.
So I'm saying, so Nikita was touting this a year ago.
So this is not necessarily a new idea or business here.
So, and this is just one example.
That is a little bit interesting to see.
I think Nikita also helped get this one off the ground yesterday.
So he was, he was touting it.
He got some negative pushback on this, folks saying it was already around,
which he responded to and jerked back this morning.
But it's an interesting new idea.
We will continue to follow these tokens and clearly some big price action
early on as well.
So that mostly goes through the headlines from the day.
I think folks may have seen that Pudgy Penguin sale.
That was a big one, the left-facing Pudgy.
It's a one-on-one, the only one facing left.
So is he down a lot on that sale?
Yes.
Yes, indeed.
It previously sold for 400 ETH three years ago.
So a 200 ETH
loss.
But in USD terms, that was
$673,000.
Did he comment on this?
He's normally pretty vocal, isn't he?
I have not seen it.
Is it like kinky bedbugs or something?
Yes, that is his handle.
So I was a little surprised to see
no statements on such a big...
It was a very splashy buy, right?
And a bit of a controversial one.
It looks like he had a loan out, a 60th loan against it.
So when he sold it on Gandhi, he cleared 140th and paid off the 60th loan.
I don't see...
Sorry, I was scrolling through his feed.
I don't see any tweets about it was scrolling through his feed. I don't see any
tweets about it. He has
changed his PFP. It's like a
Power Ranger or something now.
But,
ah, man.
It's kind of painful.
Yeah.
There was an opportunity to sell this for much more at some point, was there not?
I mean, there had to have been. Maybe not much more for much more at some point, was there not? I mean, there had to have been.
Maybe not much more, but more at some point.
They were more fungible, didn't they?
Everything about them went more fungible.
I think he was probably one of the last big one-of-one style sales.
Apart from punks, right?
Everything else is like, how many tokens are you going to get?
Well, everyone gets the same amount
of the tokens.
For all the points for the airdrop
farming, it was the same amount.
It just felt like the wrong...
He was always going to lose money on that
after all those incentive changes.
Yeah, I think that's pretty fair.
We saw a decent round
of gold and diamond sales.
So the Pudgy 4 went to $100K.
I don't know if folks remember that.
Pudgies were $100K ahead of that Pingu launch.
So I would imagine if he tried to sell it then,
maybe he could have gotten a touch more.
But I think Mando's right.
I think when you introduce all the fungible tokens to this,
it definitely hurts mid-tiers or hurts rares.
But an interesting sale nonetheless.
I think the question is even at $200,
will the current buyer be able to flip a profit on that?
We will find out.
Well, folks, I think that is the show.
We're going to get to our Yates Bents.
The code again, last chance to enter Yates 50.
Is the code.
Sims, if you are with us, I think we can look to dive in to this.
If we're ready for it.
Oh, stop, stop.
One second.
Just need a chance.
Are we looking while we wait here
are we going to do coin race today
we're finding something different
you haven't done it yet on stream
oh man are you muted
we can do coin race
I think it's back right
big news
for our listeners and those in the stream
have you done coin coin race before?
I'm not
and I saw the early teasers
I haven't even seen it play out
I think what we'll do is
they can bank 500
and then
they choose
what to bet on
for the rest of the
why don't we just put 100 on every single coin and see what they win?
That's not fun.
They've already banked enough.
We've done enough banking, all right?
Let's create some content.
All right, let's get two winners.
All right, here comes the draw.
I don't have the noise today, but we will have it back tomorrow.
All right, no worries.
Who do we got?
Pengzoo. Pengzoo. Who do we got? Pengzhu.
Pengzhu.
Lil Pudgy.
Pengzhu.
P-E-N-G-Z-O-U-O-1-2.
Pengzhu.
You won.
You're our first winner.
Go ahead and request.
Come up on stage if you can.
Very big myriad years.
Oh, already here.
That was fast.
Lightning fast.
All right, here comes our second spin.
Reinhard76 76, Sol.
Nice.
Solmaxie. All right.
Second winner, Reinhardt.
REIN. Hardt 76, Sol.
You won. Go ahead and request.
Come up on stage. You won as well.
That clock is ticking as always.
While we wait, Pengzai, you're our first winner.
GM, how are you feeling?
You won.
Good morning.
Good morning.
Feeling amazing.
How are you guys doing?
We're doing great.
Happy to see you up here.
We're doing amazing.
All right.
Looks like we've got Rain Tee, Rain Tie, up here as well.
Rain, if you're with us, you won as well, GM.
How you doing?
Hello, hello.
Hello.
Hello.
All right.
We got them both up here.
All right.
So I think how we'll do this is we bank 500.
Coin Race is a game.
Maybe should we play one game since yeah yeah i'll play
it'll auto play what is it this this also has sound if i'm not mistaken it has the guy doing the audio
amazing by the way
so this is like the one second turn of all these coins.
I'm on that time.
Do you want to quickly explore it, Mike?
And then we can let people pick one.
I'm going to choose one of these.
Obviously, there's a different multiply
if they win. Bitcoin, Ethereum
is about 2 or 3x.
Sala is 5x.
Dogecoin is 10x.
And Farcoin is 67x.
But we'll let it play through once more.
And then we'll basically ask you to choose two coins to choose from.
We'll put 250 on both coins.
Wow.
All right.
So we're doing one more demo?
Yeah.
So Peng Zhao, you'll be the first to go.
You're going to have to pick two coins, 250
on each.
Which two coins do you want?
Oof, that's a tough question.
I'm going to go with Tyler
to put some trust in Fartcoin.
Alright.
And then ETH.
ETH seems to be a runner
today. Okay.
Alright, so he's got 3.5x ETH alright we'll see how it happens here
I think it backs down Farquh is only 200
alright we're going
things out
let's go Farquh
oh it's up there. Come on.
Oh, Sola.
Ethereum's still in, though.
Oh, Sol.
Sol's the winner.
We didn't get 25 off to you,
so we'll send 525, I think, for that, right?
Yes.
525, you still win, Pengzau.
All right, well, congrats,
Pengzau. Thanks for joining us.
We'll connect you after the show. You won 525.
Cool. Amazing. Thanks a lot, guys.
You're welcome.
Reinti, you're up. What do you want to bet on here?
We need to be cool.
It's like a global game, so it just keeps on
playing. Yeah, we'll pick two coins now and get straight into it
can we just go with
ETH and Bitcoin
ETH and Bitcoin 250 on each
we can do that
alright
ETH does win in this game way more than it does in real life
wow Bitcoin just won that race
alright so you're going to be in this next race
so 2x Bitcoin 3x ETH here you go It doesn't mean life. Wow, Bitcoin just won that race. All right, so you're going to be in this next race.
So 2X Bitcoin, 3XE.
There you go.
$2.50 each.
Oh, you brick.
You're awesome. Let's give it to you. That is. Oh, no. Oh, no. Bitcoin was right there.
Oh, no.
Oh, no.
Bitcoin was right there.
Oh, no.
Oh, no.
Oh, no.
Oh, no.
Oh, no. Oh, no. Oh, no. oh no oh bitcoin was right there but don't worry rain to you still clear 500 bucks
thanks all right well uh man exhilarating games i think uh maybe a little bit of a learning curve
for our listeners and viewers um i have a little more faith in soul.
Man, that was wild.
Some wild action.
You mute it, Mike.
You're still muted.
I'm saying it feels like Plinko has been our best game so far.
We'll keep mixing it up.
I think it's fun to have the variety.
Plinko might be my favorite. but well congrats to our two winners still walking away with 500 here this morning folks that's it that's going to be our show we'll make our listeners as always
for tuning in thank you to our partners thanks to my co-host we'll be back tomorrow at 10 a.m
eastern until then go make it a great day. Goodbye. Oh, yeah. Thank you. .
