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FOMO HOUR: Bitcoin Rallies, Alts Lag and CRCL Booms
Recorded: June 20, 2025 Duration: 0:50:19Space Recording
Short Summary
Crypto markets are experiencing a resurgence with Bitcoin and Ethereum showing growth, while new token launches and strategic partnerships signal evolving trends in the industry. The recent developments in staking opportunities and geopolitical influences further shape the landscape.
Full Transcription
Thank you. GM, GM, everyone.
Thank you for joining us here.
We're going to start the show here in just a minute.
We're going to get our speakers up on stage.
While we wait, some shout-outs.
Cyber Nomad, Harry Krishna, the homies, always here.
GM, GM, love to see you.
Who else we got?
Alan Dobbins.
Little Stovetop.
All right, Little Stovetop.
I like that handle, GM.
TRD, Jazzy, Setsmoon, Candice.
All right, Candice, we see you, GM.
Who else we got?
Bell X, Bryce, 3113, Lazy.
GM, GM, Erking on with us.
Also see him out there all the time.
Sims, we're five minutes over.
Whenever you're ready, I think we can kick it. Thank you. so
Good morning.
Good morning, everyone.
GM, GM, and welcome to another episode of FOMO Hour.
Today is Friday, June 20th, 2025. Folks, our coins, they're green this morning.
We haven't seen that color in a little while. Crypto stocks are booming too. Now we're wondering,
are we going to get a little weekend pump here? Are we going to continue the endless summer chop?
We're going to break it all down on today's show. No froke, he's out sick
today, but Mando's in the house and maybe another special guest joining us shortly. Mando, GM,
how are you doing? I'm doing great, man. I'm doing great. Yeah, a little bit of a pump,
not even a pump. It's like a 1% move and everyone's losing their mind. It definitely doesn't feel
that bad today.
And probably the first weekend,
inter-weekend's right,
where it feels a little bit more chill going into the weekend.
It does.
I think we got the comments from Trump, right?
They may not make a decision for a couple weeks.
It feels like this kind of pushed things off.
So things are probably just going to continue as is.
So we'll see if that holds up.
Perhaps there's always maybe just a way for him to take some of his cards
off the table as well.
So I've heard that theory.
So we'll certainly see.
It is a nice morning for Indianapolis Pacers fans.
Big win last night, game six.
So we are going to game seven of the NBA finals in Oklahoma City on Sunday night.
So that is going to be a big one.
It's been a fun series, I think, for NBA fans broadly.
Huge for the city of Indianapolis, Oklahoma City as well.
So that's going to be a big one.
We will be watching that closely on Sunday night.
Folks, what are we talking about this morning on today's show?
We're going to start with Mando's market report. We've got Bitcoin strong, memes weak. We've got some
news right before the show. It looks like the pump token was going to be next week and now
it's been delayed to mid-July. So perhaps that's driving some of the weakness. We've got Circle
stock pumping more. This thing just does not stop. And are there some beta plays out there that we need to watch?
Plasma announcing its mainnet
launch for late summer.
We've got the Trump family selling off a huge
chunk of their World Liberty 5.
Thought that was somewhat notable.
Tether responding to the password hack
saying they might have a solution for all that.
Jupiter abandoning their
Dow model and wrecked.
Selling out day one. 7-11 at the LA party.
You absolutely love to see it.
So shout out to Ovi and team.
And also, folks, it is Far Coin Friday.
You know what that means.
Coin race at the end of the show.
You want to stay tuned and make sure you are eligible to get in the drawing for that game.
Feeling good about our giveaway.
Before we dive in, shout-outs to our partners.
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Go to pro.kraken.com and trade without trade-offs.
Also got a little news out of Kraken yesterday.
They launched Bitcoin staking with Babylon, offering 1% yield.
So I thought that was interesting as well.
Well, that's our intro, Mando, if you're ready.
That's our intro, Mando, if you're ready.
Let's just get into it.
Let's just get into it.
Yeah, that's good.
Yeah, let's do it.
Who is the man, macro daddy of the man?
Can you dig it?
GM, everyone.
So a little bit of a better day.
We're back up to around $106K on Bitcoin.
East at $2,500.
Solana just shy of $150. So we're up about one to two percent it feels like a lot of old coins have been bleeding over the last few days most of them have
bounced today um it's not like the the biggest bounce i've ever seen but it's stopped the red
i would say interestingly the one that has drifted lower has been hyper liquid
i don't think that that's what i think is you know that was one that really led the market for
a long long time and now it's putting like four red days and i wouldn't say it looks precarious
i just think that it's a focus it's just something to pay attention to a lot of people looking to
buy dips and hyper liquid right uh i think the obvious level of support there would be the previous all-time high,
which was around 34-ish.
Am I right in saying, Palmer?
Yeah.
34, 35.
Yeah, 35.
So I think you're probably in a sort of level where it's not a bad time
if you missed Hyperliquid to finally get in.
That line-up was pretty difficult to buy.
Now it feels like you've got a chance again.
So worth paying attention to that one.
But the rest of the L1s, ETH continues to slightly outperform, I would say.
Although it looks like we're going lower in the last few minutes across the board,
I think.
Just looking at it now.
Um, anyway, it does feel as though we've, we're having a better day, not the best day,
you know?
And, um, it was a bit of a short squeeze, I would say this morning.
So we saw, we saw a number of like the coins which are heavily shorted lead the rally
things like say for example um has had a decent move
decent moving things like bitcoin cash coins which were not dead but like
they're just not coins that people necessarily are that bullish on and
those are like so that's what it felt more like.
It felt like just a wipe out of some of the positioning
rather than like, oh my God, it's such a great,
a great 24 hours of news.
What we did see in Iran versus the US,
so in Israel, is that you've seen
the foreign minister of Iran is going to be meeting
the foreign minister of the three major European powers in the UK, Germany and France. And
there is some form of a hope that that could lead to a path for future talks with the US.
But who knows?
It does feel as though that still falls quite far off.
And again, there were some concessions there that could lead, that could be around uranium
enrichment, which has been the crux of the issues so far.
I still don't really know where it leads.
It feels like they're both continuing to bomb each other
and Israel continues to attack nuclear sites.
So this is going to have to be a pretty good deal, I think,
for this to actually go through.
As in, I think Iran would have to give up a lot of concessions
given the position they're in,
but let's,
let's see.
I think over the weekend we will,
we won't hear any sort of resolution other than that.
Like I don't,
I doubt there'll be strikes this weekend,
but maybe there will be like,
as in,
I don't think they'd strike Fordow this weekend,
but we'll see.
I think we've got a very brief window here for potential diplomacy.
And over the next few days, we'll know the difference.
Polymarket, I was looking at him this morning, if anything significantly changes,
but you have a 45% chance now of strikes before the end of July.
So it does feel as though it's gone down since about 60% yesterday,
but it's still relatively elevated.
I wouldn't say it's still kind of like a 50-50 shot here.
There's something that's going to happen.
So that headline yesterday was taken broadly more positively. My view is what i put out yesterday like it was really that it's like
everyone is positioned it feels like or more positioned now for that one headline and now
it feels like that headline could be you know it could it could be a week or more away and who even knows what the headline is
at this stage.
So maybe the diplomacy bit does work.
Maybe it doesn't.
I don't really know what caused...
I think US intervention would probably cause
the market to sell off.
If there's a strike in Khomeini,
I don't know if that causes the market to sell off.
It's just,
it's just difficult to know how this one plays out from here.
So I'm continuing to be thinking that the risk reward is,
is higher.
I still like ETH as I've been saying the whole time,
it's kind of hang out in this range pretty much. Hasn't really gone lower than,
than previous lows. And I think that's
the one that I'd buy on any dips. The ETF inflows continue to be very, very strong,
just kind of continual. I don't think we've had a negative day for many, many weeks now. So I think
it's setting itself up for the staking ETFs and a couple of other positive headlines later this
month. So that's been the main driver. And then Bitcoin just looks like it's similarly just not really moving,
just kind of stuck in that sort of range.
The ones that seem weak right now are hype.
And I guess Sui maybe?
Sui looks a little bit weak as a coin.
Sol has been weak, but it's kind of calmed down
a bit, I would say.
It's just kind of hung out at this level for
a bit
now, so it doesn't feel
like that's necessarily the one that's hitting lower
lows here, whereas some
of the other
L1s are. So pay attention to
some of the other L1s.
I do think they look a little bit a little bit
precarious away from that the main story is circle obviously now a lot of the focus is on these
public listed companies as it was going live it looked like sorry a few hours before mark the
opened it was up another 20 then it was only up another 5% before the market opened.
I don't know where it is now.
It's still going to be a volatile total. It's lower now.
No, it's higher.
It's higher. So it's up 14%.
But this one is going to be moving around a lot.
Obviously, the Genius Act
is the main driver, it seems like.
And also the fact that people are short
very clearly.
I wouldn't want to get in the way of crypto people
trying to drive up the short interest in the stock.
It's weirdly become almost not a meme stock,
but I think they like that people are short it,
and they don't care.
So let's see where this one ends.
I know Jeeps, who might be coming on,
has been short that one. I think
it's just a dangerous trade. It's a dangerous trade to be short on anything,
which crypto people decide to get behind. We saw some bigger headlines around stablecoins again,
Revolut's considering doing a stablecoin, and Visa, I think it was expanding their stable coin offerings and it generally
feels like stable coins and treasury companies are the big thing the other one was that trump
has reduced its the trump family at least has reduced its world liberty financial stake to 40
percent which is kind of a masterful stroke i think by then but yeah they've managed to get out of that
kind of a masterful stroke, I think, by then.
But yeah, they've managed to get out of that.
And yeah, I guess that's it.
Not a lot else.
It's just Iran and the same sort of stuff that we've been seeing.
Within crypto, it feels pretty quiet.
We've just had a bit of a short squeeze.
Everyone was saying that this morning in Europe
when Bitcoin went up to 106K,
this classic short squeeze
rather than anything actually happened.
There was no headline.
And that's kind of what I agreed to.
It just feels like people with no headlines coming out
that know like, oh my God,
the world's going to head into World War III.
You can quite easily squeeze some of these shorts.
So yeah.
I mean, is your read,
maybe this is a leading question.
Are we just going to chop in this zone until there's some level of resolution
between Israel and Iran?
Do you see us really
moving significantly
breaking the 100-110k range?
No, definitely no.
I don't think we're going higher than 110k
before this gets resolved
For sure
It's difficult to work out now
What the resolution will be
Let's go through the possible options
So the possible options is
Some form of diplomatic solution
Of which
I can only imagine
Given the position of both Trump
And the Israelis,
it would have to mean like complete destruction of the enriched uranium that's been created
and pretty odd concessions on future development of nuclear technology.
That feels to me like a deal that could take a while to get done.
that could take a while to get done. I don't know, but it feels to me like it could.
I don't know, but it feels to me like it could.
The other one is US intervention, which I think would be pretty swift, but would probably lead
to a pretty negative reaction in markets, I reckon, just because of the immediate
blowback that would be considered. I think if US would intervene, it would probably be
I think if the US were to intervene, it would probably be in and out,
facilities taken out, now we stop all aggression, basically.
And then the third one is nothing really happens,
but the Israelis then go for both the sites and Khomeini,
and that feels like a more drawn-out process as well, in my opinion.
And that could take many weeks.
So of all of those,
it feels like we could be in the shop for a while here.
I would not buy,
although I don't think being short necessarily is the right trade,
I don't know when it turns, basically.
Yeah, I think I'm with you.
I've changed my posture.
I thought at first it was going to be a quick resolution,
and it doesn't really seem that way.
I feel like if the U.S. had not perhaps telegraphed its move
and had moved in swifter,
I think maybe it could have ended sooner.
But now there's been more time.
There's been more time for Russia
and China to come out and make statements against it.
So now it feels like there's more implications
if the US is to make a move
than perhaps it felt three days ago,
which I think is what's weighing on,
which is why these odds are down,
just to put it bluntly. Yeah, for sure. years ago, which I think is what's weighing on, which is why these odds are down, just
to put it bluntly.
Yeah, for sure.
So at the same time, I think the odds, what I would say is that Trump can be pretty unpredictable.
So what we think might be happening, he's not your classic politician.
He's not your classic politician.
With many politicians, you can see where the train is headed
for many weeks before we get to the station.
This is the sort of situation where he may have already decided to do that,
to do the strike, and we're now like it's more like a lull
just to build consensus around it.
So I just don't know with him.
And I think that's kind of his political policy as well.
So we could see something over the weekend.
Who knows?
Like genuinely, who knows?
But for now, I think the status quo is
this is going to be left for kind of Israel and Iran
to fight that out themselves,
although U.S S support will be
obviously for Israel.
And,
and there's a window here for diplomatic,
a diplomatic solution,
but that could change at the drop of a hat.
Yeah.
I think that's my base case.
I do feel like the quickest resolution is likely the diplomacy route,
but it's unclear to me exactly what that looks like and what the outcome is
and if we get a deal is it just going to be one of those things that just kicks this can down
the road another six months 12 months two years so that we're still kind of worried about this
escalating again in the future so i think that think that's where my concern level is.
Pulling it back to the crypto trade here,
I think what jumps out to me looking at the Bitcoin ETH charts
is there are pretty clear levels of support.
So Bitcoin really hasn't dropped below this 104, 1036 level in the last month.
And similarly to ETH, I don't spend as much time on the ETH chart,
but it's got a pretty strong floor basically at what, 24.70?
So there's bids coming in.
We're keeping it here.
It does make me feel good that when we do get resolution,
I think the resolution path is
Yeah, particularly for Bitcoin
and ETH have
held a pretty decent floor throughout
all of this.
I would be, which has been
a very good sign. I think
for a lot of the
other things, that
hasn't happened.
And that's why Bitcoin dominance is looking higher
and a lot of old coins have been smashed.
But I wouldn't get ahead of freaking out over something like this at this stage.
At least looking at crypto charts, they look pretty well supported at the moment.
I want to talk about maybe the Solana and the meme trade here a bit.
Farcoin's actively dipping
down 28% of the month.
It's down 96%.
Wow.
I didn't see it move again low today.
This chart looks
significantly different than
the Bitcoin ETH charts
that we were just showing on the month.
It looks more like the Solana chart.
And I'm wondering, yeah, it looks a lot more like that Solana chart.
Is it tied to this PumpFun news?
That's the first thing I thought straight away.
We just found out.
I didn't realize that the token was supposed to be next Wednesday.
That's what WooBlockchain is saying.
PumpFun token was supposed to be June 25th,
and now it's delayed till mid-July.
There's enough VCs involved in this,
so I think they've probably got pretty good dates.
I think it probably was meant to come next week,
and now it's meant to come in July.
That feels like a complete dump
from another VC
that has just sent it to them and been like,
hey, this is the news.
Yeah.
And it feels like people are just waiting.
It's like the sole meme trenches
have been pretty brutal.
We had one runner the past couple days
that this Gore, Gorbalana, Gorbachana,
and we'll get into that perhaps in a second.
But pretty much everything else has just been selling off basically every day with no real new movement at all.
And there's always a handful, but nothing significant.
And now it makes me wonder, are we just going to,
is this just going to continue until after this pump token in mid-July?
So the meme traders are in for another few weeks of hell here.
I think that's my, my base case.
Even if it's not the driver, it's the driver of the narrative.
So like, do you really want to buy, even if,
I just feel like it's self-fulfilling to a certain extent at this stage.
Right. I don't think
that the trenches are necessarily
the people who are going to cop up the money
here for the fun fun token. It does feel very
BC backed more than
trench backed, but
the narrative is there because as soon as the headline
came out, all the tour points dumped.
Now it's like, well, this is the reason driving
them lower.
It very well could be that a really good long coming up for barcoin and a couple of these solana meme points probably a really good long coming up
i agree when is that gonna happen it might not be until mid-July now. So we'll see.
But also, so that's the meme narrative.
And it could very well be narrative following price action, right?
But I mean, hype is similar to a degree.
I mean, it is lagging Bitcoin and ETH fairly substantially.
I mean, not massively.
But let's take a look at the month chart on hype.
I mean,
I told you I sold my hype at 39 or 38 or wherever it was when I missed the
last move up to 44 because I felt like it was getting listed.
Part of the things I really liked about hype was that it was like difficult to
own and all this sort of stuff.
And then now it's been listed
all these exchanges like
part of me thinks that like if I was a
conspiracy theorist I think finance listed
this thing for perps
as did
as did Coinbase like maybe they're like well
let's just fuck with these guys
you know
I mean
that's not even that tinfoil a hat
of a reason
to consider right like
hey we're going to get this thing listed and
there's a lot of
levered longs on hype right but they're generally
on hyper liquid I think they were being
held before right and now
suddenly the major exchange
is this hype and it drops and it
it just looks a little bit shaky so that's i don't think i don't think it's that crazy to think
that that could be part of it but i also think it's been a crazy run-up and
there's a few things that have happened right a lot of rumors there's rumors that many of the
centralized exchanges are essentially trying
to build competitors now to it you've had coinbase get a listing and it's just not that
lower market cap anymore like it's a it's not a massive current market cap but if you actually
look at the tokenomics of hype, everyone starts getting unlocked, including the core contributors,
i.e. the guys have been shilling it since the start, in the autumn.
I think it's September.
So this whole focus on $12 billion, well, you can,
but then there is also at the same time 36 billion and or at that
44 billion and it really depends what they decide to do with the unlock type so that's my two cents
yeah i think that's something to be aware of i feel like on the days that it pumps everyone just
constantly talks about the revenue that it brings in and these buybacks is down the last four days
it's not like revenue is down revenue is in line i mean it looks like it's broadly trending up
so it does feel like perhaps some other games are being played it's just interesting to me like that
that narrative isn't touted on the timeline on days when it's red versus days when it's green. That's just probably more of CT.
We spoke about this.
If you're in consensus trades, even consensus good trades,
you have to appreciate that sometimes they can be technically terrible,
and then when the market turns, they can absolutely roof.
We spoke about what were the most consensus trades in the timeline
and hype and fart coin came up as both of those.
And I think most people are bullish on both of those coins,
but you have to appreciate that times like this can happen
and it can go down to 30 and no, like it's just purely a,
it's a consensus trade.
So just like know that those sort of periods
can happen um i might i might swoop in at 30 if it gets to 30 i might get back in the game
yeah i think at 30 you'll see people being like you idiot sport high Bam, that's when you buy. Yes. I made that mistake once before when, you know,
we found Binance were moments away from taking down an exchange.
I continue to think that any scenario in the past,
I would have been like, this is a really dangerous scenario
because they were inches from a very very uh worrying situation but if it's just
generic fud which you see on popcorn as well you know uh yeah we need to yeah there's nothing
really driving nothing's really changed in fact it looks strong perhaps as strong as it ever has
so we'll continue to track that.
I'd hoped Jeeves was going to join us.
He might not.
So I think we've got to dig into the circle trade.
So just to refresh, this thing's hanging out at 228.
It's up another 15% on the day.
That puts it at $53 billion market cap.
Let's see.
What's the five-day look like?
This thing was at 105 last week.
It's up over 100% on the week.
If you look at just a couple comparisons out there.
So the market cap FDV of USDC, their stable coin is at $61 billion.
Circle stock is at $53 billion.
We just said that coinbase stock
77 billion it does seem like coin has been perhaps pumping aligned somewhat along with
circle that's my read perhaps it's also a beneficiary of the genius act passing
but it does feel somewhat notable to me how much coinbase has outperformed
crypto majors
because a lot of times they'll trade somewhat in line.
And that's not what's happening here for Coinbase stock.
I also thought it was somewhat notable.
I tweeted this morning that Visa stock is down about 10% from its local high in the last 8 to 10 days,
which is about $60 billion, which is effectively the market cap of Circle.
So Visa lost a circle in market cap, perhaps showing how the wins might be changing.
I've been publicly bearish on this stock since it IPO'd.
I thought it was overvalued at $7 billion.
Now it's seven and a half times
higher than that. I think I was just thinking about it wrong. So this tweet from Darren,
who I respect a lot, I think he's a very sharp trader, kind of opened my eyes. And I've heard
a few people talking about this. I haven't seen it super publicly, but he's basically saying,
stop thinking about it from price to earnings.
Start thinking about what it can become, the market share net asset value of how big this can be.
And is there a way for them to pursue some kind of a treasury company for stablecoin model here?
It feels to me like this thesis is what's driving this, unless it's just pure meme stocks, short squeeze, right?
Like the people who are bulls at $228
and are buying this stock today,
like this has to be their bull case, right?
Like how else can you justify buying in here?
But at the same time, if that is your bull case, I see it.
I see the potential and if that is your bull case i see it i see the potential
and the upside is big
when you've got beset coming out and calling for stable coins to 3.7 trillion usdc clearly
a leader there's a lot of competition coming but they are ahead of the competition so
But they are ahead of the competition.
So I don't know.
Ahead is a temporary word.
I mean, and not to completely say that this is wrong,
but my view is that people are buying Circle right now because it's going high.
Sure.
They wake up each day and it's up 10% and they're like, I need to buy it.
I need to buy it i need to buy it
and it's got that it has got a pump fun chart to it this is this is what's going to happen
all the people that have been degenning on on altcoins and meme coins for last two years have
been told now we got to get into stocks and so you're going to get a lot of things with crypto
stocks this is the narrative but it could also have been true of the thing with crypto stocks this is the narrative but it's it could also have been
true of the narrative like uh at a quarter of the price in my opinion so and just to put into scale
like jp jp morgan aum as a bank jp morgan has 3.7 trillion dollars assets, right? I don't know how much of that is in cash,
but I'm sure it has hundreds of billions of dollars of cash.
They could eclipse Circle's AUM of a stablecoin in a day.
in a debt like circle is not it is a big stable coin but it's it's with if some all these financial
In a day.
Circle is a big stablecoin,
institutions decide to create a stable coin like they can really get it going um so i think this
is a this is they ipo'd at the right time before the major competition comes in, but now you're going to see major competition.
And I think people aren't buying based on valuation.
I think they're buying because they're crypto guys.
They're crypto people who've come in and gone like, yes, this is the stock.
So I would be on Jeeves' side here.
Not that it can't go higher, but I wouldn't be convincing myself
there's a fundamental story about why they should go to like a thousand or something like that or even go higher.
Yeah, I don't think there's a fundamental story, but there is a hopium story.
There is a path forward.
There's a memetic path forward.
I'm not clicking the buttons to go short.
Oh, God.
That is a fact i think the other
interesting take i saw on this was out of tom lee um who basically points to ethereum as the big
winner and this is this is somewhat popular i've seen other people saying this um that effectively
as stable coins rise and this is actually bigger than Circle
because even Circle competitors here,
if they're on Ethereum,
this would drive up ETH network fees,
exponential growth in the Ethereum network usage,
saying it's a direct beneficiary.
So would Solana, though.
You could just say this benefits the major L1s
I think actually
There's more stablecoin
Volume potentially on Solana
I don't know if that's still the case
It definitely was a couple of months ago
Yeah, could make the same argument with Solitron
I mean, maybe not Tron
Because Tron is mainly USDT
Tether
But for Circle
This is more a trade around there.
And maybe that is why we're seeing a drive into ETH.
I'm very bullish on ETH right now, genuinely.
I do think that the normies can get behind this trade
way more than they have in the past.
And I think it will go to 4K by the end of the summer.
So I've got an ETH beta trade for you.
And guess what?
It's a stock.
It's a stock that's 80% off all-time high.
So, Sharplank.
I don't mind that.
That's a good trade.
Probably a good trade here this is
an interesting a lot of fud but i would say though that there are sellers of that stock
you know like it's it doesn't feel as closely held as some of these other ones like we had the
defy development corp guys on right like Like that stock feels way more tightly held than this.
Yeah.
Maybe.
That's bad.
If you're going to enter this trade,
and I've been thinking about today, actually,
I think it's one to DCA into.
I don't know if today's going to be the bottom.
There's going to be sell pressure.
What's interesting to me, market cap is $650 million.
They've got $425 million worth of ETH right now.
They've said that they want to buy more.
And you've got ETH upside.
I don't know.
It's trading at a fraction of a billion right now.
And if they really want to be the micro strategy of Ethereum,
there's upside.
I think the ROI is potentially there.
Like it is a riskier trade for sure.
And that's what they desire.
What I would say is that like,
if this catches the same sort of meme,
like we just sort of circle,
like a bit more like,
oh yeah, this is the trade.
People will look at the last all time high and be like,
yeah,
this is the trade,
right?
Doesn't matter.
Straight back to 80s.
This is the trade.
So maybe,
do you know what Tyler,
maybe that is the trade.
Maybe that is the trade.
I've traditionally felt like buying L1 betas is always a dangerous trade,
but maybe this is the one that works.
First, folks, live on FOMO Hour Fart Coin Fridays.
So I will also be taking a look at this one very, very closely.
We covered the main topics.
Quickly, I'll touch on this meme coin.
This is a wild story.
We haven't really seen a meme runner like this,
which actually is kind of organic
in quite some time.
This Gorbogana token has run to $40 million.
There's a bit of lore on this.
Let me see if I can find the tweet quickly while I'm talking about it.
It's linked to Tully, right?
Tully and Gabe Shapiro were basically having an argument about how the importance of trademarks in blockchains.
And Gabe Shapiro, who was an Ethmaxie, was basically saying that you could fork Solana,
name it something ridiculous like Gorbogana,
and a certain cohort would start trading over there,
and effectively there's a world where it could flip Solana.
They're going back and forth.
Tully says, well, I can't believe no one's launched a Gorbogana meme coin yet.
Someone launches it.
There's a little bit of a pvp and
then the narrative shifts to like okay we're going to crowdsource actually building out this fork
and gabriel shapiro helped do that they raised like 23 000 the token pumps and then this is where
the thing gets it's it's wild uh yeah so this is where Gabe Shapiro crowdfunds the cash. This dev appears.
The dev's going to do it.
Then he says, no, I'm going to use this other meme coin,
the other GOR, as the gas token.
So this GORBARGANO sells off.
The other one pumps.
Five minutes later, he rugs up and disappears
and exits out of his Twitter, this rogue dev,
and then just abandons that project.
Is there a story that speaks about the trenches
than what you just told me?
Is there, like, I don't think it could have been any more
the Solana Trenches story.
So good meme, good potential for a meme pvp on the way up
then even raises money for what they're gonna do and then dev decides to semi-rug then fully rug
and now we're left with a point of 30 million stay in the trenches people tell you people say
why people don't trade in the trenches anymore.
This is why we're buying stocks, folks.
We're forced to buy stocks
because rogue devs are rugging
coins on a daily basis
here.
There was a decent chance
there for something
good.
I don't know.
It's just so funny.
I love how there was a PVvp just like a pvp just choose one guys it is absolutely terrible the east coin's been
created oh of course there has of course there's an eth one which makes zero sense uh that they
would make one on eth but alas, we kind of went around the story
that the only thing that was somewhat notable
out of the Trump selling off 20% stake,
I looked into that World Liberty FI token.
Let me see if I thought I had it up here.
It's trading at 940 million on pre-market
and on decent volume.
So it's doing about $5 million a volume a day.
So we do have an early valuation for World Liberty FI.
And that is a token that feels like it could very well catch a memetic bid
into this stablecoin crypto craze because they've got a stablecoin USD1.
That's why it was actually a little surprising to me
that the Trump family took it off, took 20% off.
I guess there's still huge owners in this.
And maybe the cash was too good.
I think Forbes reported they had a chance
to make something like $150 million, $190 million on this.
Yeah, I'm not seeing it here.
But that surprised me a little bit.
I think there's also the potential narrative like,
oh, they're distancing themselves amidst the Dems pushback.
I'm not really sure that I'm buying that as the reason here,
especially if they announce any more crypto dealings in the next month.
So we'll certainly see.
But that World Liberty Phi is going to be a token to watch in the near future.
Sims, I think we went around the horn.
SparkCoin Friday.
I don't know if I gave out the code.
The code was pump?
It was pump.
I should put it in thingy chat,
but we'll give people just a couple of minutes
because I don't think we did call it out.
So we'll bring it up and people can do it.
Well, I guess while we wait...
Are we going to choose anyone
in the audience, or should we choose people from the top as well?
Just for today, we're just going by the standard
picker, and then me and Ty are going to
work over what we've discussed
and see where we work from there.
We'll just go standard away, enter the code
at yeetaboards.com.
Code is pump.
Using the FOMO hour code.
Do you want to just cover this topic real quick, Tyler,
while we let more...
Yeah, we'll get folks in another minute or two to join real quick.
Shout out to OSF.
You love to see it.
It's Wrecked.
Sells out their drinks at the 7- the seven 11 event live in LA yesterday.
It looks like it was a fun party,
successful event.
He has got his hands full.
So are they doing events like this?
Manda,
do you know today and tomorrow or those more just focused on just in-store
launches?
You know what?
I just don't even know.
I think this is the biggest distributor that they have,
but this is in California.
And I think if it's successful in California,
then obviously 7-Eleven is a global brand.
So we'll see where it goes from there.
But it feels like the first event was a big success.
And then potentially it goes from there.
I know they've obviously launched the site as well.
So you can order now directly at any time.
So obviously it's been more of a drop model.
But if you ever run out,
you can just go buy some now as well.
Oh, I must've missed that announcement.
There's a website.
Yeah.
Yeah.
So I don't know where.
All right.
Well, I'm going to do my,
do my research because I have not,
I'm not seeing that yet.
Yeah.
I mean, the majority of them have been sold by these drops.
Awesome.
Well, wish Obi had the best of luck on this LA tour.
They may have all sold out again.
I'm going to the site now and it says all sold out.
So maybe they did launch that and they all – but that's kind of the – yeah, sold out again.
Subscribe for the next drop.
I think maybe we'll see more coming.
Demand is high.
I like the blue ones.
Me too.
I popped mine in the fridge yesterday,
so I'm excited to get my first real taste test today.
Oh, nice.
All right.
So spin this,
and then I just need to make sure
that the person hasn't worn within a month.
So let's give within a month.
So let's give it a go.
Let's do it.
KBM's son.
Incredible handle.
Not sure I've seen that one before is KBM coming up on stage?
is Pollock in kick chat?
their kick is Pollock
KBM's son Pollock
are they in the kick chat?
they can
if they want to chat, they can chat
and they can claim it.
They don't have their Twitter, but if they want to claim it
inside chat on the kick chat, they can do.
Oh, Pollock. There he is.
There he is. Pollock.
Pollock, can you come on the space? Is it possible?
Or do we just... Of course I'm here.
Of course I'm here.
I guess he can always just tell us in the chat what coin he wants.
Yeah, I can actually bring up his...
If you don't want to come on the space,
we can always bring him up on the chat that we have on here now
because it does work.
So let me pop that up.
Comments.
Give me a sec.
Okay.
And while that's happening, I can get the other game ready to load up so folks this is uh
it's fart coin fridays where we play coin race and our lucky winner will be able to get yeah so
so paul tell us a coin you want you're gonna get so you banked 500 you've already won 500 you're
gonna get 250 on fart coin and you're get $250 on a coin of your choice
either Bitcoin, ETH, Sol or Doge
and they each have higher odds as you go further out
so let us know what you want your coin
he says Solana and Bitcoin, you only got to pick one
you got to pick one, it has to be Fartcoin plus one
so pick Sol or Bitcoin for us.
So is he the only winner
of bringing up two more?
No, only one today
because we've done five a week.
Okay, cool.
All right.
He picks BTC.
He's going the barbell,
the Fartcoin, Bitcoin barbell.
You love this.
I like that.
I like that.
All right.
So you're not in this one.
You'll be in the next race.
Let's crank musical, boys.
Oh, yeah.
Come on.
All right, love that Farcoin's not in this race.
All right, so Bitcoin wins this one.
It's hot.
All right.
Eat it already.
250 Fart.
250 Bitcoin.
All right, we're in. Here we go. Three Bitcoin. All right. We're in.
Here we go.
3, 2, 1.
Come on, Pollock.
Let's have a big one.
3, 2, 1.
37 X on Fart.
Oh, Sol's right out of the gate.
Oh, no.
Farts have to.
Oh, shit.
Come on, Bitcoin.
What's the race? Oh, no. Farts have to. Oh, shit. Come on, Bitcoin. It was a race.
Oh, an Ethereum.
Wow.
All right.
Well, Pollock, that was exhilarating.
You still bank 500 bucks.
The team will coordinate with you right after the show.
Man, we haven't had a win on CoinRates for a while, have we?
We haven't.
I think we have multiple people up.
We've got to have it so that everyone chooses a coin,
and then we can always have a winner.
Yeah, I like that.
We choose Fartcoin, although it's Fartcoin Fridays.
Fartcoin is not going to win that often.
So it feels like
maybe we should make it so that anyone
can choose any coin.
I hit it twice in three goals, so I
believe.
Could do 100 on Fart
and they have 200.
Maybe it's 100 on Fart and then the others
we can choose.
We'll continue to play with it.
Yeah.
All right, this was a great show.
Yeah, this was good, folks.
Thanks for joining us.
I want to thank our listeners.
As always, I want to thank my co-host, Amanda.
I want to thank our partners.
That's it.
We'll be back at 10 a.m. Eastern on Monday.
Till then, go make it a beautiful day.
Goodbye.
Goodbye.
Goodbye. Goodbye. Thank you.
Host
Degenz Live
from
Degenz
