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FOMO HOUR: COMMODITIES SUPERCYCLE
Recorded: Jan. 29, 2026 Duration: 0:57:28Space Recording
Short Summary
In a lively discussion, crypto enthusiasts explored the contrasting trends of soaring metal prices against declining cryptocurrencies, highlighted OpenAI's partnership with WorldCoin, and discussed significant fundraising efforts in the sector. The upcoming White House meeting on the Clarity Act signals potential regulatory advancements, while Hyperliquid's yield dynamics capture the attention of investors.
Full Transcription
Thank you. Take it, Charlie. Thank you. GM everyone and welcome to another episode of Homo. Our today is Thursday, January 29th, 2026.
Folks, it might be Black Thursday.
We're watching Price is Clumet live here.
This time, definitely, FOMC yesterday with Jerome Powell.
I thought it was fairly neutral.
Gold and silver, love it.
Copper loves it.
They're all soaring to new all-time highs.
Crypto, not so much. Going the wrong way. Is metals mania here to stay or is it crypto's turn right around
the corner? We're going to talk about it on today's show. I'm in the driver's seat today.
I've got Farouk in the house with me as well, still on the mend. Farouk, Jim, how you doing?
Good morning. Good morning. I'm excited to hop on the show and not, you know, cough into the microphone.
But, you know, we're out here. Thank God I got you. And we're living another day in paradise.
I had quite an epiphany today in the shower, so I'm excited to talk about it.
I'm very excited to hear your shower epiphany.
January, the longest month, this feels like it's been going on for 10 weeks now,
and you're still sick through all this. This is terrible. We got to get you-
I know. I'm working on it. I'm vitamined up right now. We're just trying to get there. We'll get
there. I'm confident. All right. By Monday, I'm good. Let's go. Let's manifest it.
Some green candles might help as well. Those don't seem within reach at the moment. Folks,
what are we going to talk about on today's show? We'll go through the market. Stocks are red and
selling off. Metals are going the opposite way. They're soaring. New all-time highs, perhaps
soaring too much. We'll talk about that. We'll go around the horn, give our copper price targets.
too much. We'll talk about that. We'll go around the horn, give our copper price targets. Copper
bulls here feeling good this morning. I want to go through some of the tech earnings. There was a
lot of big ones out of Meta yesterday. Tesla had a lot of huge announcements yesterday as well.
Microsoft Southwest. So go through some of those. Government shutdown odds are falling
live as we speak this morning. You would think that would perhaps be bullish for markets, but apparently not.
OpenAI is now looking at doing a social network with WorldCoin.
We'll chat about that.
The latest out of Hyperliquid, their unstaking is coming in a lot lower than expectations.
That's big.
The White House meeting on Clarity Act, Coinbase predicts bird reactions, and a whole lot else.
So we've got a lot to get into.
And as always, we'll be ending the show doing our giveaway.
So you want to make sure to stick around for that.
With that, let's go ahead and get into it.
I'll do my best Mando impression.
We'll go through markets with him as well if and when he joins.
Taking a look at the crypto major board,
it is red one out there today, folks.
Going down 4%, 86.1.
You're dumping right now.
We were at 90K yesterday for most of the week,
so that's a rough down move.
ETH down 6%, 28.40.
So it continues to lag on the way down, it seems.
Sol down 6% at 119.
And I think it just got flipped by silver.
Silver has flipped.
Solana, we'll get into the metals here.
NASDAQ down 1.6% and actively falling.
So that opened up fairly even.
So it's been dumping as well.
The only thing in green, it seems, gold up 4% of the day.
It's at 5,489.
It hit 5,600, I think, briefly, last night.
Silver's at 119.
40, up 5%.
Copper's up 10% today.
Pulling back a little bit.
It hit 660.
There briefly, it's at 648.
So metals are all soaring.
Metals super cycle cycle it seems um and to the detriment of our beloved internet tokens um we'll dig into that and some some deeper reactions
here in a minute um i think from some of the overnight news here um The White House is leaning in to the Clarity Act.
So they called a meeting between all the big banks and the big crypto firms
who have been battling over this yield issue for stable coins,
which seems to be the sticking point for the Clarity Act.
So they're going to get together on Monday with the White House Crypto Council.
So hopefully they make some progress there.
It does seem like geopolitically a potential Iranian conflict seems like it might be getting
closer.
It seems like the U.S. continues to move more and more pieces over to the Middle East.
So I think that's going to continue to be a major storyline to watch.
Some of the tech earnings from yesterday.
So Meta,
they beat earnings across the board.
They have huge CapEx come,
I think 130 billion.
They maintain that.
They're going to execute that in 2026.
The market liked it briefly.
Meta was up.
And then Tesla had a crazy day.
I do want to briefly talk about this.
We don't talk about stocks much on this show,
but pretty substantial
moves. So for any car fans
out there, they
kind of surprised announced they're going to discontinue
the Model X and the Model S.
Really?
The sedan and the bigger SUV, they're done.
After Q2, so there's not even much
time. So what are they going to replace it with?
Nothing. Well, Optimus, the robots. So there's not even much time. So what are they going to replace it with? Nothing.
Well, Optimus, the robots.
So they're leaning in to their robot production.
Oh, so they're going to stop producing cars?
Not entirely.
I think basically they are honing in their focus on the Model Y,
which is by far their highest selling car.
And I think my, I don't think they explicitly said this,
my read is with all the self-driving
and the autonomous feature they're working towards,
it might be easier to do that
with just one singular model
versus trying to build out the infrastructure
to have the self-driving
across all the different models.
And I actually wonder what this means
for the Cybertruck as well.
I think some people are already kind of raising some concerns.
The Cybertruck is not included in this, so it's going to still continue.
But I think some folks are concerned that that might be next on the chopping block.
So Elon heavily leaning into autonomous cars, robots.
The Optimus 4 is going to be coming soon.
He's leaning into solar as well.
I think that was a big part of this.
And then separately,
they announced a 2 billion investment in XAI.
Those companies very linked together.
And then Neuralink,
I don't know if folks saw this,
this product called Blindsight,
which is literally giving sight to the blind,
is set to be rolling out soon.
So Elon had quite the day of announcements there.
I think the other macro headline, government shutdown odds were falling off a cliff this morning.
So they'd been at 80% for the government shutdown as of this Saturday.
So very soon fell all the way to 50% on the polymarket this morning, now back to 65%.
So I don't know, maybe that was a bit of a head fake.
We will certainly see.
So that's kind of a quick rundown of the biggest macro stories.
It looks like Bitcoin continued.
Oh, wow.
So it just lost 86.
Big level.
Right at 86.
Yeah, so I kind of zoomed out.
Since the November 21st sell-off, which is kind of like a line
in the sand to me. That was the bottom
post 10-10.
If you look, we've effectively kind of just been
ranging since then.
I mean, that range is, oh my god.
86 to 94. I've been
looking at this chart.
It's nasty.
I'm like,
what are we doing here?
Like,
this is a chart of a system that has completely broken.
Right?
So elaborate on that.
Like what system?
Like a lot of what Kathy Wood and Tom Lee talked about on TV,
but like,
and I think we've heard the whispers of market makers being taken out and not
being able to,
you know,
you know, provide liquidity to the markets. Like this looks like in the liquid market.
Right.
And we've seen it on the weekends what happens to these to these streams.
Right.
And so it's just it just doesn't.
It's not trading like a normal.
I don't know.
It's just not right.
Something's weird.
I mean, look at this. Not trading like it has been. don't know. It's just not right. Something's weird. No, I mean, look at this.
I'm trading like it has been.
I mean,
this is a trillion dollar asset.
It's not a normal.
Where are,
where are the key lines here?
I don't,
we don't have Bernie's power.
You're going to have to go to like that,
that four hour or a daily.
I think this is a major here where we're at right now.
I'm pretty sure you lose this.
You went to seventies.
I'm saying that to keep a lower, to keep higher lows in tech,
we got to hold 84.4 based on what I'm saying.
We just went to 85.5 live.
I think what makes this even tougher is I was at the gym yesterday,
and it must have been the sailor pump because Bitcoin just went straight up from 89 to 90 in like a 15, 20 minute window yesterday during the middle of the day.
So I don't know if it was caught that.
And then immediately sold off.
If that was the sailor pump, then he got another 90K average.
Jesus Christ.
We'll find out next Monday.
Like, wow.
Sure.
But yeah, we were just hanging out at 89 yesterday,
and here we are absolutely falling off a cliff.
Yeah, we're puking right now.
I'm trying to look.
Because if you zoom out on like the daily, right?
Yeah.
So you got 80.
Yeah, we're here, right?
Like we're there.
Like we're.
Yeah, kind of right.
Right on the line, within about 1 000 or so so if you lose mando's one of his more macro thoughts for a while had been we would retest
80 at some point yeah is that retest coming i think there's some there's a cohort of folks
who kind of rooting it on like let's just flush and get past it. If you felt like that was needed for us to go up.
But notably, even the last few days, I feel like our female quants have been bullish.
LH was even – it seemed like she was – I thought I interpreted one of her latest posts as she was hitting the green button.
So I thought she was long.
It's not too long ago we thought we were going to that 103 level.
And here we are back at the low end of the range.
So it's not good.
I think the pain, what's making it worse is just that Bitcoin and crypto's performance compared to the metals.
So we've known Bitcoin is digital gold.
Gold has been hitting all-time highs every day.
You know, it seems like actually gold is selling off pretty hard here.
It looks like every asset is selling off right now.
Yeah, so is there something going on?
Literally everything across the board is selling off.
I don't know that I saw any headlines before the show.
I did not see anything.
Are we missing something? I don't know that I saw any headlines before the show. I did not see anything. Are we missing something?
I don't know.
Let us know, Chad, if we are.
I mean, the metal selling off shouldn't be surprising to anyone.
They've literally gone straight up.
Silver was at 75 to start the year.
Below 75 went all the way to 120.
So a red candle there is not super surprising.
Copper seemingly has been the lagger.
We had a nice little euphoric morning,
10% pump all the way to 660 for the Copper Bulls.
But now it's selling off.
It pumped basically 6 to 640 overnight,
chopped there, and then it went to six 60 this morning.
Looks like it's given all those games back here live as we speak as well.
So metals turning around as well.
Notably on the hyper liquid board,
silver is the number three trade asset.
So Ethan is back over at gold is the fifth traded asset. So ETH is back over. Gold is the fifth traded asset.
The stock index is number six.
Copper is number eight.
And then the 500 index.
What's going on to our copper right now, Tyler?
We came in here to speak about copper for half an hour.
Yeah, I was hoping our macro expert and fellow comparable Mando
would have some insight to us. My read is just it was just lagging. I was hoping our macro expert and comparable fellow comparable Mando would
have some insight to us.
My read is just,
it was just lagging.
I didn't really quite understand why it was lagging gold and silver so much
in the,
this overall metals trade.
I think the,
the bowl thesis for it is fairly similar to the,
the silver thesis.
It's,
it's less of a pure like store of value, of course, than gold,
but some of its use cases in defense and AI was a part of the core thesis
as it was for silver.
But, man, yeah, we're dumping live here.
So maybe our quants are at the desk live trading this action.
What else is?
So Bitcoin's stabilizing, it seems, at 85.
How's ETH looking?
Also, it doesn't look great on the two hours, so it's down to 28.13.
How are stocks doing here? Oh, my, look at this. on the two hour, so it's down to 28.13.
How are stocks doing here?
Oh my, look at this.
That's at 1.7.
6.14.
Whoa.
Yeah, copper just gave it all back.
What just happened?
Our bullish copper morning is... Dude, we were having the best morning ever.
We were like, whew.
Yeah.
Myself, I was thinking, do I take profits at seven?
That was my number.
It looks like I'm working.
Yeah, gold and metal.
Shit the bed.
Got a little too greedy there.
This is a nasty red candle for the copper bulls.
Yeah, check gold and silver too.
Silver back at one.
All the charts look the same.
Wow.
Silver all the way to 112.
Gold 5320.
Yeah, so it's down 300 points.
Back to prices not seen since yesterday at this time.
So we had a parabolic run effectively yesterday evening,
which it kind of came after FOMC.
I guess we can talk about FOMC a little bit.
I feel like we buried the lead, but I listened to it.
And I felt like it was one of the most boring FOMCs
that I listened to in the last year and a half, two years.
I don't know what folks were expecting.
It was,
it seems going into it like it was a foregone conclusion.
They weren't going to cut.
They weren't going to cut.
We were,
we wanted to see what else he would say for any kind of forward guidance.
And he kind of held the party line.
I mean,
he basically said the economy is in good shape.
Inflation seems under control.
He seemed to, I think he said tariff inflation also,
seemingly under control as well.
I thought he was neutral to positive.
I think I saw some takes that he was a little hawkish,
but that was not my read.
I read it more as neutral,
but he also made it very clear he's not in a race to cut anymore
in the near future.
So less than a coin flip that'll cut again in April.
I still think there's a chance he will if inflation continues to come down,
but there's a lot of time between now and April.
Zarquan is now in the house.
Manda, Jim, our metals are dumping life.
You got to stop dumping the market, dude.
What are you doing?
Yeah, not a great day, right?
It's the last 15 minutes.
I have to say, it's felt like it's been coming.
I have to say, it's felt like it's been coming.
I think the parabolic rise in gold is generally not seen as a good thing.
But it feels like crypto is always the one that falls the most.
Of course.
I mean, we've been falling when it pumped,
and we've been falling when it dumps, too.
We didn't get the pump.
Now we're getting the worst end of the sell-off.
Yeah.
As well.
Stop us rallying.
No, not anymore.
Oh, no?
You got to refresh the charts.
Oh, wow.
Look at that.
That's the red candle this morning.
It's still up a little bit, I guess.
It is, yeah.
It looks like, okay, so now we're rebounding fairly swiftly.
I'm just wondering what the hell just happened because literally every asset across the board.
Were they too hot maybe?
I don't know. It's still 3% to 5%.
Stocks, metals, crypto, all of it.
10-10.
10-10, but for the world.
Relax.
So what's up with Bitcoin, Mendo?
Where are we bidding this thing?
I haven't bought Bitcoin for a bit
because I longed ETH for that trade
and then it broke down.
And I've stayed away from that the whole time.
I actually thought Salama looked like an obvious short and it actually to me looks like i was going 100 here
it's so bad
and i still have my trades on like i don't know i don't really know what to say like i don't love
I don't really know what to say.
I don't love this situation right now with gold going parabolic,
but I think there's still some really good trades.
Hype seems like a good one to buy right now.
Is it dips?
Bought a little bit before we went live.
Google's still hanging out
Google's still hanging out.
Copper
Copper just feels like one of these
Like crowded trades suddenly
I don't know if I want to be big in copper
With me
Oh no, Tyler's in the copper trade
Tyler put his entire hyperliquid account in copper
Yeah Tyler's in the copper trade. We might, this is too quick. Tyler put his entire hyperliquid account in copper.
Yeah.
And then,
what else do I add?
Google.
Yeah,
Google looks fine.
Google,
I mean,
gold,
yeah,
it's, it's sold off,
but like,
it's still,
as well
I think crypto's
gone
it could be
touching that lower bound
80k-ish
soon
and then
see what
see what's
like
what survives
but like
we kind of
one kind of needs it a little bit.
So yeah, in that scenario, so what are we looking for?
We want to see, I feel like this is kind of a dumb thing to say,
we just want to see like an obvious bounce off 80K.
And then if it doesn't happen,
is that the indicator that perhaps there's much deeper pain in store?
Like, what are you, what are you looking at there?
Yeah.
For Bitcoin, I'm just waiting for it to break back up.
And it did.
And then it got smashed lower.
So for me, I'm not really looking to catch.
I never looked to catch falling knives.
So it feels like I would not.
It's not like I'd just pick a level in the sand and be like,
oh, if it's 80K, then I'm going to buy it.
I don't like those trades that much.
So I'll date.
I think...
Let's look across the market right now.
Is there anything that looks like it's outperforming even remotely?
Stable?
WorldCoin got a tiny pump but it's not really
much and then gold
are the other top movers even on the crypto
board so that's kind of the sign
of the times
yeah
I buy
hype here
as in like I buy dips
it went down to like
32-ish
I bought a little bit
back then
to be honest
I did sell some
but it's just held up
so strong
that I just feel as though
well there was bullish news
about the unlocks right
being significantly lower
there's like nothing
being unlocked this month
it's like 4 million dollars
that's cool
so they're really
by any means
but I think they were expecting
maybe like a million, 1.1 million
tokens
to be unstaked and distributed
and basically it was 10% of that
so only 140,000
perhaps alluding to less Stakes distributed and basically it was 10% of that. So only 140,000.
Perhaps alluding to less sell pressure from the team going forward.
The market liked it.
I think it went 32 to 34 basically when this came out.
Yeah, I think that's the one I'd look at.
It seems as strong as HIP3 hit across 2 billion yesterday,
so it's just continuing to skyrocket.
I feel like I expect that to continue to be the story.
I mean, two questions. Farouk, you made a post about this as kind of like a paradigm.
I feel like it was kind of like a paradigm shift type of tweet about Hyperliquid
and kind of what it's become with the Trade Everything exchange.
So curious if you wanted to share more.
Yeah, I mean, I guess you could extrapolate it to like Perp Dex in general,
but there's really just Hyperliquid at the moment doing that kind of volume
and that we're talking about, especially with the hype token.
But I was thinking about it this morning, like what keeps the crypto cycle going, what's the crypto community, crypto
participants going is the ability to make money, right? We financialize everything in this industry,
right? And the more money we make in this industry, the more, even the little things like, oh, CT's
alive, like all these things, right? And then you see meme coins run, et cetera. The thing is,
lately, majors have not been trading well at all.
So Bitcoin, ETH, I mean, you can see right now, Solana, et cetera.
There's been nothing interesting in crypto in general.
And altcoins are just like, there's no single altcoin that's actually like,
you look at something like, wow, I'm down for that, right?
Now, the other thing is that's different in crypto versus regular markets, trad markets,
equities, commodities is asymmetrical gains, right?
And this is why people came into crypto in 2013, 2017, even early 2021, 2020 is because
you could still buy Bitcoin, Ethereum, Solana, and or altcoins and change your life overnight,
right?
Like there was still these asymmetrical gains.
I feel like the time for these asymmetrical gains, at on majors has gone like you're not going to get asymmetrical
gains on bitcoin or ethereum uh versus um you know some stocks or correctly some commodities
or you may but for a very short period of time right and so when you look at that the only way
to get these gains is meme coins but what keeps this um what keeps the party going in this space is the fact that
we're able to make money on chain. And in comes hyperliquid. Hyperliquid is giving anyone the
ability to make money, and for what it's worth, some people lose money, on chain. So when I'm
buying copper, let's say, or gold, or Google stock on chain, I'm not rotating this money off chain. So let's say I hit a big trade on gold.
I'm not selling it into a fiat bank account. I'm selling it into USDC, USDT, whatever you're
trading into, right? I think, Mando, you're doing that, right? You're trading on chain, I believe.
And so you're not taking that money out. And so for all these crypto participants that are getting
into this trading, there's always a bull market somewhere.
Always.
So right now, there's been a bull market in commodities, right?
Then there will be a bull market in the next thing, in the next thing, in the next thing, in the next thing.
So there's always going to be something running on chain.
And there's always going to be a natural shift towards meme coins.
Like we're always chasing meme coins.
I think the proof is in the pudding.
We've had two runners go way beyond nine figures recently, Penguin and White Whale.
We've had several coins go to the $25, $50 million range.
Remembering the name of all, there's actually been a ton.
And that's only going to accelerate with time, right?
So I actually think like,
I always say I name Hyperliquid because it's really been the biggest one.
It's the main driver.
But like what Hyperliquid has caused,
it's a really big shift.
And when that shift fully hits and when you can really be able to train every asset on there,
I think we're going to see quite a spark. Well said. And I think we'll also see a shift
in CT. I think we're already seeing it it was a
cohort of people who talked pretty much exclusively about crypto tokens and now it's a cohort that's
talking about metals stocks prediction markets it's effectively how to make money on chain
versus just how to make money in crypto. So it's a bigger
bucket now. And I think
it's kind of a natural evolution.
I think it generally will be
positive and perhaps
a way to pull more folks in.
Of course, we have to...
Bro, what is this?
Copa shop?
This is wild.
I mean, look at gold.
I think that's what's going on.
Brought it up now.
Is that like a 10% one-hour move in copper?
Yeah.
It was up.
10%.
It pumped 10% and it's basically giving it all back.
It went to 660, dude, before the show.
That's proof, man. Crypto people,
we're turning everything into a...
We're turning
the whole fucking thing.
For what? Copper's like one of the most used
things in the world. Like, what is going
on? Dude, there is more open interest
for copper and silver right now than gold.
Hyperly, that's insane.
That's wild.
At 660, I had the question on the call sheet.
I was going to have us all go around and give our copper targets.
I know.
What are we doing now?
Are we giving targets?
I feel like it.
Let's do copper inu or real copper.
We'll do both.
Hey, your copper inu is still alive, Tyler.
Copper is trading for copper inu, right?
It is.
I don't know the market cap.
I wasn't able to pull it up.
But what's the market cap of copper?
The nutrients?
I mean, copper is so abundant, right?
It's difficult to talk about market caps.
Yeah.
Like, what's the FDV of copper Like what's the FDV of Coppa?
What's the FDV of Coppa?
Is the dev active right now?
Yeah.
I don't even know.
It's not even in that website.
Did we get rugged on Coppa, guys?
I hope not.
Did the dev claim his fees?
Whoa.
And then sell?
Wait, did he actually log into BagZap and claim his stuff?
That would be crazy.
All of CT goes in on copper,
and then the actual copper guys pull the rug on us.
Interesting.
I want to finish our conversation on hyperliquid,
then we can come back.
To me, the big question is, can it decouple?
Right?
So in the world where Bitcoin goes to 80K,
if Bitcoin continues to chop
in the bottom of this range,
can hype still be a good trade?
I mean, clearly it was a good trade
off this recent bottom,
22 to 34.
It was an incredible trade.
But now it's a little bit,
it's still of all-time high,
but a little bit back into the middle of that range there.
So I guess I'm curious,
is that a concern?
Crypto majors price action a concern,
or can this thing actually break out against majors?
I think hype looks good versus majors.
I mean, this is what we're all talking about.
The apps, the apps, the apps, the apps.
I think they're starting to hit product market fit.
This can work.
I think there's a world where King of the couple.
Hype more than maybe even the metals trade here.
Yeah, of course.
Well, because the metals are being traded in the hype, right?
Yeah, the metals trade feels like,
look at these fucking wicks.
These are wild.
I know.
For someone who follows markets a lot,
that is an insane move
in the price of copper.
Oh, gold.
Look at gold.
No, pull up the gold chart.
Wow.
It's just 10%.
What is happening?
Guys, this is a $4 trillion candle.
Am I right?
Is that it?
Yeah, gold is $37 trillion. Yeah, so it was like a $4 trillion candle. Am I right? Is that it? Yeah. The gold is $37 trillion.
Yeah. So it was like a $4 trillion up.
I looked that up because it added the entire market cap of Bitcoin yesterday.
Yeah. But then it lost twice Bitcoin just now.
It just lost twice Bitcoin.
Two Bitcoins in 15 minutes.
Surely they're all selling for cash to rotate to Bitcoin.
Yeah. Everybody, you know what? That's what's going on.
Selling to short
copper, it seems.
Silver just gave it all back.
It hit 120, flipped Solana.
It's wild, dude.
This is so funny.
I wish I was on a tradfire trading floor.
Is there a Wall Street
bets of commodities?
Is there like a Reddit?
There's got to be, right?
Yeah?
We're going to pile into
uranium this morning.
It's all easy to say.
How does uranium trade?
How is uranium?
You don't have uranium
on there, right?
Why? Why can't we trade uranium uranium on there, right? Why?
Why can't we trade uranium on hyperliquid?
Why?
It looks like they've got the placeholders in place.
Spot palladium just dropped.
Everything just dropped like fuck.
It's crazy.
Wow.
Okay.
But two minutes ago, Senate Republican leader tuned,
shut down talks going in the right direction.
So I don't know
what that means for our backs.
It shouldn't be impacting us too much.
Yeah, governance shutdown
was down 55%. I told you guys
when it was 80% is best for in crypto.
Then no.
I'm seeing 65%.
Is that outdated? Just click?
Refresh?
I'm still seeing 65.
Weird, okay, let me refresh.
Actually, yeah, I think Polymark might be having
some issues right now. Polymark is down?
How are our memes doing? Are they trading
like medals?
Me maybe.
Down in line with gold.
Yo, what about burp? Are you burbish?
Because that was a story yesterday. How's that trading today?
Let's get into it.
It's nearly back to where it was when I first started tracking it yesterday morning.
And I think going into the first day of trading,
knowing that it was low flow and not a ton of tokens were coming,
I understood the buy thesis,
but I also felt like that buy thesis had the longevity.
As long as the momentum was upwards and as soon as the momentum shifted,
that thesis went out the window.
And now,
and I think this is the problem with like super low,
going the super low flow route is it's great for that early pump,
but,
but then what?
And I'm sure Spencer has thought this out and I imagine he's got some
announcements and whatnot.
I think there were some issues with claims.
I saw some folks with SPTs didn't get as much as they thought.
I haven't dug in super much.
I'm not really, I haven't been in super much. I'm not really,
I haven't been in this ecosystem.
wait,
Mando,
I think you have a Moonbird,
right?
So you should be able to.
Mando,
seed invested in that thing.
I do.
I do have a Moonbird.
I do.
Yeah.
So you'll have some tokens to claim once every month.
You can log in.
You know me.
I'll be there.
But basically,
so it went straight up
for the first six hours
yesterday.
It hit like 460 million.
It was within like a
40% move of flipping Pingu.
And I really
started wondering, how high can this thing
And now it's effectively gave gave majority of it back it's now man down 16 on the day I think it'll find a bottom find a range
here um but it's pretty dependent on more direction, more vision from Spencer,
I think on exactly what this token is going to be.
The NFTs puked,
all the NFTs puked.
Moonbird's down 0.84.
I'll use it 4.2 or Apes 5.4.
So pretty red day across the board.
Why did the NFTs drop?
That's what I didn't understand,
because surely like this this if you buy one
do you still get to
to vest it
and get
like it's not just
they're now like
token pools essentially right
they are but they're
24 months
right
24 months vesting
but like
I don't know
it just seemed like
why would the
if the token now goes up
would the NFT go down
maybe I was just
maybe I was just too simplistic about it.
Maybe people really don't like the investing bit,
but token really rallied, right?
The NFTs did rebound briefly yesterday
when the token started pumping, I believe.
So yesterday they got back to like
that have since
sold off so
we'll see
not the best price action
memes had
a decent bit of action
yesterday nothing
super crazy I think white whale
continues to grind back up today. Nothing super crazy. I think White Whale continues
to grind
back up. It's arguably
back at $90 million at 40%.
Kind of a big move on that.
A handful of new tokens every day
getting to the upper single
digits, low eight digit
market cap. We're continuing to see
some action, but
nothing crazy. Really jumping out
on the
meme board. Tibber had an
interesting update yesterday.
I actually missed this.
I got chirped for
not including it in my...
You got chirped?
In my rundown. Really?
Is Benny coming after you?
The Tibber community are famously very nice.
Is Benny giving you some shit?
I got him.
Rachel's tweeted them out,
actually.
It looks like
their X account tied to the token.
They're launching
an agentic marketplace
I think for CryptoPunks merch.
Was my takeaway
on this? I haven't really dug in super
hard on this.
I think an update
in general
is bullish. We thought they were going this
agentic route. I think we want
to see more than...
Hold on. So they're not taking over Stripe or Coinbase?
Wait, hold on. They're not.
First up is the agentic marketplace for Punk's merch.
On virtual.
Where is the takeover of Stripe, Coinbase, Revolute, Robinhood?
That's later on the roadmap.
Yeah, okay.
You're not in the Discord meetings
every Thursday night
where they talk about these things.
The token briefly pumped to like $225 back at $180.
So we're giving a lot of it back.
Still fairly high market cap on this thing.
In disclosure, I still hold this.
It looks like it's a fairly strong support at 150.
We'll see where this one goes.
A few headlines.
We haven't really talked about too much of the headlines.
Fairly big one out of the White House yesterday.
And this could be the most important story no one's talking about.
The White House is about to break the stalemate over the Clarity Act.
So they announced yesterday they're going to convene a meeting
with the executives from the banking and crypto directors
to try to find some common ground on the Clarity Act,
which has been stalled in Congress.
It's going to be hosted by the White House Crypto Council,
focused heavily on what has been the biggest sticking point in the fight so far is whether
or not crypto firms should be able to offer interest or rewards on stablecoin holdings.
The banks are the ones really pushing back hard on this, arguing that rewards would siphon
deposits away from their core business. And on the other side, of course, crypto firms
saying exactly that's what we're going for and banning those incentives would be anti-competitive.
So, again, the White House Crypto Council will be hosting this on Monday, and perhaps we will see some progress on this.
Clearly, I think this does show that this administration is keen to get this digital asset, these regulations passed here.
to get this digital asset, these regulations passed here.
This quarter, certainly ahead of midterms,
and now with government shutdown odds perhaps falling a bit,
maybe there's some new hope that the Clarity Act does indeed get passed here
in Q1 or H1.
So I think a big meaning to watch out for next week.
Other than that, Tether is
going to gold. I think this was a big headline
going around yesterday.
They have $24
billion in gold. They're going to continue
to add.
They have a gold
product. They have the
XAUT token, so they
have to back that by gold, but effectively
for their balance sheet, they've been buying it as well. So they're buying more gold
than Bitcoin right now, it seems. So another feather
in gold's cap. But I guess their holdings are down 10%
this morning now with the gold
sell-off. Fidelity offering a stable
with the most notable aspect of this. So the big players
from Teratify continue to
move into Ethereum.
So I'm expecting that trend to continue.
And I don't know if I have the story on this. I'll have to try
to find the headline here. But OpenAI
is doing or is exploring a social network with WorldCoin.
I don't know if you guys saw this.
The idea is...
This sounds like, you know, when like a shitcoin announces some random partnership with another shitcoin?
And it's like...
There was maybe another story, two stories ago,
which sounds like something similar.
But it's like, OpenAI to partner with WorldCoin
for social media platform.
That sounds like one of the worst stories
I can possibly think of.
They're clutching at straws for the valuation.
Can you honestly think that these guys are going to be good
at running a social media platform?
And that we're all going to scan our retinas
to have Sam Altman run a social media platform?
That is so insane.
It literally sounds like the bullshit you make up to get evaluation.
Wild.
I'd be curious to learn more about their plans.
Let me say that.
Love it.
I think conceptually, so remove open AI from this.
I think the concept of a bot-free social network I think is a good one.
Yes.
I think it's the number one complaint by a mile for Twitter users.
I think it's bots and rage bait being surfaced are the two primary complaints that I see.
And just general inability to control your algo.
Could they solve this?
I think that's interesting.
Are people going to scan their retinas to do it?
Wow, gold is still going, right?
This is still going.
Everything's dumping.
Everything. Let's dumping. Everything.
Let's check back in on Christ.
I'll be able to long salon on like $100 today.
So Bitcoin is now at the range lows.
So this is squeaky bum time.
Holding that lower low here, folks.
Dude, we're going back to like $7 or something.
Where is it?
$84.6.? 84.6.
Microsoft is down 12%.
So apparently, Microsoft
earnings shit the bed.
And took the market with it.
Why would Microsoft take
gold with it?
Who knows, man?
Is the copper dev at Microsoft?
What's going on here?
So where are we going?
I think...
Copper dev died during yesterday's mint.
To be fair, Microsoft is, you know, that's OpenAI to a large extent as well, right?
to a large extent as well.
Yeah.
Big links between the two of them.
Big links between the two of them.
They're responsible for a lot of the infrastructure
spend that people have been worried about
because they don't make their own chips and stuff like that.
I don't know.
I mean, you know what's holding up?
Hype is holding up strong here.
Look at this board. It's insane. Hype is holding up strong here. Like, look at this board.
It's insane.
Hype is great.
It's down 4.5%.
It was just 31.
Oh, wow.
Nice.
It's down 7%.
It's down 7%.
I was joking about Black Thursday in the show open, but it's actually...
It's like Black every day right now.
Well, yesterday it wasn't.
I'm thinking of just...
Longing, or longing meaning just adding a bunch of spots,
like hype and copper and just not trading.
Hype is such a good one.
Like, it's just such a good coin.
Yeah. I'm buying a little bit of hype right now. Like, it's just such a good coin. Yeah.
Hype.
I'm buying a little bit of hype right now.
Yeah.
I just don't.
And I know a lot of people say, oh, but the other, like, look at Lit.
It's down 10%.
It doesn't have the strength.
Like, I understand there's other perplexes, but there's one of them that's caused this
paradigm shift.
And it's hyperliquid.
And I can say that because I wasn't one of those, like, .HLs talking about hyperliquid.
I was very late to this. but i really see that like i i'm like i see it from an obsessive
point of view now i don't know how to explain it it's like when i found about nfts and i was like
obsessed with them because i was like fuck like this shit's changing yeah if anything's gonna
make it it's it's it's hype isn't it right and it's, it's hype, isn't it? Right. And it's like, but in general, like, dude, like, I don't know, like you,
you guys all have a nerdy side to you.
That's why you're in this space, but like being able to buy metals,
I think Google stock, like on chain, like from your couch, like 24,
like to me, this is so cool.
Like it's beyond the act of like making money.
Like it's just fine.
It's so sick. You, it's beyond the act of, like, making money. Like, I just find it so sick.
You know what I mean?
Yeah.
I mean, you've been trading markets forever.
Like, I don't think you thought about this 10 years ago, didn't you?
Like, it's so insane.
Trading stuff tokenized on chain.
I mean, when I first came into crypto, there was a lot of talk about it, right?
Yeah.
But, like, 10 years ago, you've had Barclays before that forever, no?
Like, how?
No, this is not even something that was in my,
like, I didn't even know what ETH was when,
when I was in TradFi.
I think a lot of people still don't really know what it is.
So this whole globalization thing is not,
will not be familiar.
Yeah.
But the thing is,
I don't think the rotation is going to be gold.
Like the rotation is going to be like, it's not going to be people like Trad rotation is going to be like,
it's not going to be people like TradFi
selling gold, silver, copper,
whatever commodities into crypto.
They're not going to because Bitcoin
has shown to not be a safe haven asset.
Every single war we dump,
every single time gold is up,
Bitcoin is dumped even lower.
1010.
And then you have all these black swan events,
FTX, 1010. Why then you have all these black swan events, FTX,
1010.
Why would anyone want to do this?
But then,
but the crypto gold that could flow back into Bitcoin.
It's like the more money,
like the higher,
the more money these like people make on chain on commodities.
And I think that's what rotates back into these coins.
Like,
you know,
it's so interesting to me.
I don't know, guys.
I still...
I see the point that being able to
trade metals on their assets
on chain is bearish alts, perhaps bearish
crypto.
I think we're also reading a little bit into
the price action.
Yes, trading metals on chain
has been super popular
because they've all been going up
in a straight line.
And as soon as that stops,
folks are going to look up,
look for catch-up trades
and like, what's the next thing
I can buy?
And if crypto starts to get momentum,
then that's what they'll trade.
Yeah.
So I'm not quite as...
But don't be trading what?
BTC, ETH, SOL?
Which ones do you think?
Bitcoin, ETH, Seoul are the two majors for me.
I think they're in the same...
But are they going to be trading like...
I think it's the app thesis.
I think it's hype.
I think Pump, we can't just forget about Pump because it's down.
Comeback arc.
I mean, actually like my whole thesis,
super bullish pump,
right?
Because like meme coins always going to catch a bit on the back of like any
market pumping that's available on chain.
Our pump is on 11% today.
Yeah.
That's the thing about pump.
I love this quote.
I love the whole idea of pump on like I'm a big fan,
but that shit always takes a fat dip to the market.
Unless we're wrong and delusional about this hype trade,
but this thing is so strong boys.
What's the volume today?
I'm sure it's quite high.
So I think they probably end at the around 7 p.m 7 or 8 eastern looks like they've
done 800 million today uh so will they get to 2 billion today it's probably a little bit of a
stretch but it's possible but yeah i mean the volumes are just parabolic so it's objectively
huge so is the meme coin actions all up into the right still.
Wow.
Most daily active addresses on the 27th,
up to 300,000 daily active addresses trading memes.
That's insane.
Revenue back there.
Pump's making 1.4 million a day again,
1.4,
1.5.
So as long as that continues, I think that token seems,
hate to call anything safe, but it seems like it's got somewhat of a four, right?
If they're making a million and a half a day and continuing their buybacks.
But it's still one of the more interesting tokens out there.
So maybe we're getting a relief bounce on Bitcoin.
We'll see.
84.8.
Ended up being quite the
red morning here, folks.
In light of that, should we give some money away?
This is so funny.
I got to show you something.
I need D-Gentai.
D-Gentai, send this to me. There it is.
I got to post a screenshot.
You know how the timeline is always
just so good?
Hold on, let me share my screen two seconds.
It's Myriad posting DevSold with the DevSold logo here.
And then my commodity super cycle tweet.
Oh, the timeline is so good, bro.
There were signs.
We have to laugh.
If you're going to show up every day through this pain,
you have to have some fun with it.
Oh, man.
Yeah.
I bit some hyper liquidio with our burr.
There's going to be some real talk of,
was that the blow off top for gold, right?
I'll be back tomorrow, $5,500.
10% move up and then a total 10% reversal?
I mean, Silver did that the other day, right?
Fuck.
I mean, what happens if we go to war?
We, not we.
What happens if America strikes Iran?
Like, let's say right now America strikes,
because allegedly decisions have been made.
That's probably, could be also why we're selling off, right? Markets tend to speak before the
news.
America goes to war with Iran tonight.
What happens to,
I know what happens to the crypto coins.
What happens to commodities?
I feel like gold is like, isn't gold
a safe haven?
What do you think?
In a vacuum, I think it would go up.
But this 10% red candle is kind of tilting me a little bit on how it would play out near term.
But we also, the U.S. did a strike on Iran last year as well.
It was fairly brief.
I would expect it to be brief again.
But I haven't been super plugged in.
I'm not sure this would be too brief either.
I mean, this one's a big one.
Hoping it doesn't lead into a broader war after that,
but they're definitely deployed as fuck right now.
you know,
I think that's what people are scared of.
What if
they strike,
they don't hit Khamenei or let's say that
they're not like as concise and then
it leads into something bigger but
we'll see
interesting
this is going to be an interesting time to follow
US directs Iran
only 14% by
January 31st
50% by February
28th so coin flip in the next month.
Really?
That's really low.
Huh.
Okay.
Guess we'll see.
Let's give some money away.
Let's give some chaos.
What?
84,650. Let's give some chaos. What? 84, 650.
Let's give some.
Brighten our mood, at least for one lucky listener here.
Let's go.
Let's give some money away to someone.
Let's give a little money.
Barn run on very hard.
All right.
Today's winner, the moneymaker.
Look at that.
I think I've seen that handle around, but it's been a while.
Yep.
Same.
I was thinking we should play Omaha today.
Yeah.
His name is the moneymaker.
I feel like we have better odds of getting a nice payout.
Easier.
At some point, we're going to need someone to run up a very hard lamp job.
All right.
No one is true.
All right.
Moneymaker.
No, wait.
That's so funny.
All right.
Well, you said Omaha?
yeah let's do it
we're going to put some Omaha for you
I heard in line of the markets
that Yeet is
dialing up the RTP
everyone's desperate for the RTP
yeah I mean you could do better
on the RTP side for your boys you know
alright
RTP gods
whoops
whoops
whoops
whoops
whoops
whoops
whoops
whoops
whoops
whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops whoops up and let's go oh
beatable
ace 4
it's 0%
we had two pair in our hands
alright we bet
oh he's caught this is going to be a big one one card here let's go Two pair in our hands. All right, we bet.
Oh, he's cooked.
Oh, we're going to – this is going to be a big one.
One card here.
Let's go.
One card.
Bam!
One card, baby.
Let's go.
4.42, so 9.42 for ya.
All right, not bad.
It's nice when the guy gets cooked like right away, you know?
All right.
I agree.
$140 for watching this morning.
It's not bad.
That's definitely not bad.
That's like a whole Bitcoin, though.
Oh, God.
Too soon.
All right, guys.
With that being said, we'll see you tomorrow morning, 10 a.m. Eastern.
Peace out. Good night, dude. Thank you. Music Music Music
Music
Music
Music
