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FOMO HOUR: Crypto Chops, Polymarket and Kaito & Mr Beast Buys a Bank
Recorded: Feb. 10, 2026 Duration: 0:58:49Space Recording
Short Summary
In a lively discussion, crypto enthusiasts explored the current market trends, including upcoming earnings reports from major players like Coinbase and Robinhood, and the strategic acquisition of Ethereum talent by Tempo. The conversation also touched on the challenges traders face amid market volatility, alongside Mr. Beast's foray into FinTech aimed at educating youth on personal finance.
Full Transcription
Music Thank you. Oh Iγγ
γ gm everyone and welcome to another episode of fomo hour today is tuesday fe 10th, 2026.
Folks, the sun is shining.
We are warming up here in Chicagoland.
The snow finally falling out.
Crypto prices, not so much.
But there are some real pockets of excitement brewing and some reasons to be optimistic.
We're going to get into it on today's show.
I'm your host, Tyler D.
No for Ote. He's out in Hong Kong all week, but we've got Logan in the house.
Logie, Jim, how are you doing? Hey, good morning, Tyler. I'm doing well. Yeah, it's a little warmer
here. Still lots of ice and snow to melt, but hopefully soon. I'm a little euphoric this
morning, if you can't tell. We're going to be in the forties today,
which is about 70 degrees warmer than,
than we've been for the last month,
basically.
And I looked at the 10 day and we're going to be 60 next week.
And I saw,
I'm sorry.
Go ahead.
I saw.
you know,
I just moved.
I saw a stat that it was the coldest winter here,
the coldest like 30 day stretch in the last 42 years or something.
Tough.
I think a lot of the East coast got that.
Sure. And Graham, we're a little more used to it in Chicagoland,
but still it feels like this winter has been brutal.
It's been going since Thanksgiving.
We're ready to get past this.
We're ready to get past this crypto winter as well.
I'm not sure if we're all quite as optimistic about that turning in the
corner in the next week, but we will certainly see.
Looks like we've got someone to help thaw us out from crypto winter here this
morning let's go gm not enough receding hairline on that screen so i came around it's going back
well you're in the denver area where it's been pretty pretty fantastic this winter hasn't it
like i have friends out there it's like super i actually live in i live in the mountains so for
us you know we want snow.
The whole economy depends on it.
So it's actually been pretty the opposite.
All these people who want warm summers are getting cold summers.
And our whole economy depends on snow for skiing.
And we didn't get it.
So I think this is the least snowfall in like 200 years.
I mean, basically in recorded history.
So it's been rough.
So do you see like less tourists?
Do you notice?
I think the ski company's revenue is down like 40% year on year.
I mean, massive.
I mean, they haven't even opened up the whole mountain yet.
And this is meant to be the coldest three-week stretch of the year.
It's been 55 up.
I live at 9,000 feet.
Well, we'll take some of that.
We've been hoarding all the cold and snow in the eastern.
I know.
I'll send you some 55-degree weather if you can send some snow out here.
But whatever.
We got a new dog.
She likes the warmer weather.
So, you know, it all comes down to the dog.
Yeah, we're already getting requests in the chat to show the dog. are we really oh man i gotta go get her you're you're your buddy diego
um oh oh yeah you are impacting me i know my daughter would just love a dog
oh yeah well we should talk offline i i see the pros and the cons we got a dog that came to us
crate trained does she want a big one or a little one we are in a situation where i think we would
probably get a bigger one okay now ours is small um but our the breeder was really good she like
basically trained it so mike my i've been putting my foot down as long as i do a daily show i can't have a dog just
because i can't deal with a dog barking or potentially barking every day that's the other
thing is our dog our breeder so schnauzers are kind of yappy but our breeder got one like she's
like schnauzers are so yappy it's the breeds going downhill so she only breeds them with parents who
don't don't bark so our dog has barked like literally 10 times like 10 barks total in three weeks wow 10 roughs
yeah so she's super calm but uh yeah i'm gonna go get her although i think a part of me does want
like a little bit of like a guard dog so like i guess i do want my dog to like bark sometimes
yeah guard dog she and it. Yeah.
Well, we'll chat more offline.
Mando, you just walked into a weather and dogs conversation,
which is a bit of the science. We're a real bear market now.
It's a bit of the times.
Of me.
Logan depressed the whole audience yesterday,
and now we're just talking about dogs.
We can't talk crypto because Logan will just go down more bear rabbit holes.
My mom hates me.
All my friends hate me.
What am I going to do with myself? I just moved out.
Tough being Logan, man.
Yeah.
Mando, how are you?
Life is amazing.
As always. Very positive.
Well, all right.
Well, folks, what are we going to talk about
on today's show? We'll get into the market.
It's mostly a chop day, I think, ahead of a big macro week.
So we've actually got some big earnings, Coinbase hood coming down the pipe.
We got Mr. Beast buying a bank.
Unclear if there's going to be crypto tie-ins to this.
Tempo is acquiring all the Ethereum all-stars.
They got the Farcaster co-founders.
Backpack is raising an ability.
That came out of nowhere.
Polymarket and Kaido.
Polymarket is reviving Kaido single-handedly
to enable you to bet on attention
while Jump Trading gets equity stakes in their company.
We got some big meme action from the night as well.
Banker continues to pop up.
A few new runners as well.
And we got to talk the latest with Ace Trader
with stats on with us.
Mando, if you're
ready and we can get into a little market report
yeah i mean there was talk of a bit of a chop. It does seem a little bit worse than a chop. I think we did kind of go sub 69K on Bitcoin, ETH heading back down to 2K, and Solana 84.
So some of the relief that we've seen has been kind of given back up.
The one I'm looking at, honestly, here is Hype.
Hype has had a decent dip back down now, sitting at 29.
I had some bids at 29, which still have not been hit.
But that is one I'm looking at and saying I like it.
There's been some light FUD, as always, whenever Hyperliquid sells off.
I think it's a mixture of they've got unlocks coming.
And I think we know what else it was.
But it's just just some fud.
But I like it.
I haven't pulled the trigger because, like I said, the level's at 29,
but that is the one I'm kind of looking at.
This whole level.
Everything else, not a lot, apart from obviously Rex,
which I'm in love with. But it doesn't feel like there's a lot
in terms of the charts which is showing much momentum to the upside um interestingly in
terms of the macro picture gold gold has bounced and it's looking good but not like incredible it's
still put in a slightly lower high here so if it goes like above 5100 i think we'd be
um in a good spot but for now it's just kind of hanging out at this just level just above 5k
you've seen a bit of a rally in silver as well but silver i think is underperforming gold on this bounce um and tech stocks are
are genuine generally a little bit lower so across the board um the only other like macro thing i'm
looking at again is copper kind of still looks like it's it's held up okay and it's still hanging
out around all-time high um if that one was to start to rally,
I definitely don't want to miss that
because that is very...
It's one of the only things which is near all-time highs
or at and around all-time highs,
and I think it'd have a decent run.
So, yeah, that's one I'm kind of looking at
from a macro perspective.
Other than that, I have basically no positions, guys.
Don't really feel the need to.
I don't, like I said yesterday, and I tweeted it out
and got a mixed response, let's say.
I do think we could be in a range here for a while,
and that's my base case.
So I'll wait until I see obvious prices to get in
rather than trying to make it all back on this.
And I think you will get obvious prices to get back in.
So I do think we'll get a decent level to get back into a few very good trades.
So that's what I'm waiting for.
Patience, patience, patience.
It does feel like that is the name of the game right now.
Hype specifically, I want to dig into.
So I've seen it.
It's, I think underperformance is fair.
I missed down 7% on the day.
What jumped out to me is I typically check their hip three volumes.
It was fun to check when they were going parabolic up and to the right.
They fell off a cliff. got yeah why is that i wanted i need to double check to make sure
there's not like a data error and this is such a substantial drop off they were hovering at
three billion a day and now it's 500 million so it it's down 80%. The volumes really decreased,
but it did feel like this wasn't just silver.
This was like stocks, wasn't it?
Yeah.
Maybe I'll drop it to 28.
I really like hyperliquid.
I think it's a really good thing to be involved in.
One thing that I've said,
the reason why I got out of hyperliquid when I did
is because it's really concentrated still.
When it dips, it tends
to underperform, and when it rips, it tends
to outperform.
When it starts to move, you're like,
oh my god, get me as much as possible.
If one of those guys starts to sell,
then it can be
not the prettiest.
I'll keep some at 29.
I think I'll lose some to 28,
but that is a coin which I want to buy.
It's one of the few things in crypto which I just think has a very clear
valuation proposition
and I think is proving that it's a real thing.
Yeah, I think that much is clear.
I've been tracking it lately a little bit more against Bitcoin
and trying to...
This is maybe a little more personal
because I've been debating,
do I swap some Bitcoin to hype?
As my primary...
Maybe punkster hype is the trade
i just can't that that's probably the more rational trade yeah you just don't you can't
know that now my punk is me yeah too much emotional attachment taking the 75 haircut
or wherever it is is a little too painful. I do have a broader question of,
like, A, how far can hype run against Bitcoin?
Is it somewhat range-bound?
Is it somewhat contained by macro action?
Well, hype went from 21 to 37 in Bitcoin dips.
So I actually think
it's slightly counter-cyclical
in that it rallies
when everything else is dumping.
Like really dumping.
But I do agree
that if Bitcoin drops down
to low 60s,
it may get hammered.
It would just be the thing
I thought I would buy.
So I'm I would buy. So, I'm
looking at it.
I have to say
that part of my thesis was the HIP3 stuff.
Quite a big bit of it. So, that's made me
question it if those numbers are real.
What about HIP4?
what about that?
That's the prediction market stuff, right?
Oh, yeah.
I guess i'm somewhat valuable like if you look at how other prediction markets work as we spoke about yesterday it's a
mixture of market makers coming on um and they're being incentivized by a centralized team the way
that hyperliquid has generally done it has not been about that.
It's more like product first.
And I think if you read about the deals that Jump Trading and Susquehanna and some of these
other market makers are doing, they're getting paid like a loss back feature almost to provide
liquidity.
And I don't think Hyper's going to be doing that.
So my guess is that it's valuable for options but maybe not prediction markets i think it's more
a question against like there a bit rather than the i wouldn't be that bullish on the prediction
market bit of it i'd be more bullish on the option bit of it makes sense sam stats i want to
tag you into the conversation mando just kind of mentioned he's flat like are
you just holding through this like what what's your view now that we had the big sell-off
starting to maybe yeah find a bottom chop zone i got i got a lot i have a handful of bitcoin
some soul and some eth and some hype and i don't really trade that much. So I'm just kind of sitting here watching
my money disappear. It's hard to want to add though. It's like you lose a lot of money and
good traders know like, okay, that pain is the buy signal. But to me, I'm like, make the pain go
away. And I like sell. So I'm just like the wrong guy when it comes to incremental trades.
So I'm just like the wrong guy when it comes to incremental trades.
One of the things I'm tracking is I bought some Bitcoin at the Pico top in 2021.
So I'm like sitting here trying to hope that stuff gets in the money because I bought it at like, there was a minute where I was down on my 2020, 2021 Bitcoin purchases.
Incredible.
So that's kind of how shitty of a
of a human trader i am let's see so you're that's one month though you gotta go like five year
oh no is that yeah each candle is a month so though yes you had some ticks there that were
like in 63k and we got below that for a couple seconds oh yeah and we're well below i just i'm just like
i'm you know i i think generally speaking that buy and hold is the problem with crypto is that
most things go to zero you know so and it's not clear that anything other than bitcoin has really
bucked that trend over time even eth you know, you know, it's, I mean, ETH has underperformed inflation for five years, right? So I don't know, but I'm kind of like,
Bitcoin's just kind of the one you just kind of want to buy and hold. And I don't get too active
with the trading. You don't see the lower or the higher lows on this it's pretty hard for me to get too excited about that shirt
i'm trying i'm trying to do everything i can to come up with a tweet that gets all the eth maxis
pumped about this shirt but it's hard it's tough 2000 psychological floor good thing yeah good
thing there's no more yaps because it's hard to come up with good content these days.
Right now, my feed is all different people playing basketball against LeBron.
My feed is whatever post I looked at
yesterday for a second is 25% of my outgo.
The worst thing about Twitter right now is if you like a post,
it is reasonably possible.
They will give you 10 tweets in a row, which are quote tweets of the post you like.
Like the multiple quote tweets of the same post is what really gets me.
That just shows that like they're being lazy.
Oh, you like that?
Here's 10 more versions of it.
Here's 10 people with comments on it and everything else is over you got any uh us play it can be literally a football play like stuff
that has nothing to do with my history anybody got any usa curling mixed doubles in their feed
that's what mine's mine's a lot about that because i've engaged with here's the thing people
complain about their feed it's also a confession yeah there is i've been my feed is a lot about
birds and usa mixed doubles curling who plays i think for the gold later today interesting yeah
don't touch the all men curling that logan knows care about that but mixed doubles he wants that
i have a buddy who moved to charl Charlotte and I sent him one clip of a Charlotte
Hornets stat. And now like literally it is a quarter of my feed every day for,
for weeks, Charlotte Hornets. So that is the state of that. I do.
We got to talk Ace Trader. It has been a big day.
Round one is in the books much to our our good friend Farouk's chagrin.
He fell below the line, folks.
No, but he got promoted.
He got promoted.
Oh, this is breaking news.
Does he even know this?
Breaking news.
Farouk got promoted.
Look at my feed.
I think my feed has it somewhere.
All right.
Let's see
you go through mr stuff man i got a lot of junk i posted the top eight i posted it one hour ago
top eight check your dms oh here we are oh the top eight fighting for a million dollar fund in live one v one trading matchups we've got it
oh crypto gorilla made it oh wow you had to claim your spot and there was a little bit of uh there's
a little controversy a little sense that maybe some people had two spots single traders client
trading two wallets so there are a couple things in the top eight where because you know where we needed where and and farok ended up getting promoted from uh from no man's land
i always wonder about that so if you multi-count this you can effectively just take both sides
right and you have a big shot people are going to find a way to play the game you know um but
we wanted humans as opposed to wallets and eight unique humans
um so we'll see i had nothing to do with this decision i woke up in the morning i saw farroque
was in and you know i'm always happy for when farroque rakes in the w so let's see what happens
well so do we know this next uh stage three champions I mean, this is the bracket.
It's 30-minute one-on-one trading competitions.
Wow.
Yes, so it's one-on-one trading competitions.
This Two Sharts guy, he's got that guitar there.
I'm going to be doing a podcast with him.
He's a full-time guitar maker.
So he literally makes unique guitars for individuals that want special guitars he has an instagram i mean it's
really cool stuff and this dude just comes out of the woodwork and is up 500 and just blows everyone
away and he was up every day like it was not he did not do the let's win and ditch oh yeah i think
he he made it on shorts but we're gonna we're gonna find out what happened today yeah he pretty
much led i mean beyond like the first couple days,
it seemed like he was top of the leaderboard for most of the tourney.
And I'm glad that no one who got the buyback actually ended up winning,
it looks like.
Okay.
Yeah, that's β maybe that's a good outcome.
It'll make Easy happy.
Easy was starting.
Easy was in my grill about the buybacks.
He was really in my grill.
So I got to tell him no one made it.
Yeah.
Then he lost anyway.
Yeah, exactly.
Can't be in my grill if you're in 60th.
30 minutes.
So do both players get to agree on what 30-minute block that is?
Because Froak's in Hong Kong, for instance.
But his opponent might be in the US.
Yeah.
No, this is...
Fortnite tournaments, Australian Open,
you don't get to negotiate.
You just show up when the tournament director says,
time to come.
You think Jokovic is out there saying,
I need two hours later because I'm tired?
Come on.
All right. February 12th, 1400 UTC.
So that's like 9 a.m. Eastern?
No, that's every time zone friendly, I think.
Not, you know.
Yeah.
Do they have to make a trade?
Or can you just stay flat and hope your opponent blows up in 30 minutes?
I think you can stay flat.
I've thought about this.
That's psychological warfare right there.
Tomorrow, ahead of the open, we'll have to think through some strategies.
So, like a 30-minute session, there is a lot of game theory.
And then are you able to see your opponent's traits, or is it black box?
Do we know?
I'm not sure.
Let me check.
Let me check. Because there certainly some some strategy there and i'm going to management slack room
um live streaming on ace trader x and youtube oh all right so we probably will be able to see
what they're doing if it's if it's going to be live streaming. Oh, this is pretty exciting. So it will be...
Can we confirm?
I want to confirm UTC to Eastern 1400.
No one understands.
I don't think anyone in the world understands UTC
except for Mando and a few other British people.
So this is the 30-minute window before markets open.
U.S. open.
Yeah.
Which is usually a fairly volatile
very volatile uh 30 minute period there's a little bit i mean we used to have the trend where you would
you would kind of go back to the prior close potentially yeah um that might be first order
thinking but certainly i thought the 30 minute thing was a little weird, but, you know, at the same time, I think they just want to make turn this into a spectator sport.
Yeah.
I like it.
We haven't seen one do it.
Try things out in the arena.
We'll see how things go.
And then the grand.
OK, so will the grand final then be the same setup?
It'll be 30 minutes.
For it all. Yeah. Yeah yeah yeah yeah same format the whole way
through all right so ahead of friday's show we will know the winner maybe it'll be our good
friend farok so we will certainly be uh wishing him luck we'll go through a few more of the headlines breaking news before the show.
Polymarket bringing Kaido back from the dead, seemingly. Perhaps the cause of Kaido's death
were overblown, but Polymarket is going to offer attention markets now in partnership with Kaido
AI. So you likely will remember how Kaido got famous and got put on the
map was their mindshare visualizations, which I think people pretty universally liked until
the YAP campaigns kind of soured everyone on InfoFi and Kaido. But that was pretty useful
data. For the first time, I really got to see what is trending, what are people talking about fairly objectively before the incentives changed it. Well, now that data,
my interpretation is that data will be used for polymarket lines. And you will effectively be
able to bet on what will be the top trending segment on Twitter or on crypto Twitter for the week of February 10th.
Where my head immediately goes is, well, if there's incentives based on the prediction markets,
won't this just be gamed?
But at an even higher degree if these markets are liquid.
So that was my initial reaction.
Stas, curious if you have any take on
this i know you were at least loosely involved in the info fire a top yapper for a bit there
mind share yes i mean look i i think all these things when you start paint i don't know i just
i just feel like eventually everything gets gamed and it kind of becomes the worst version of itself.
And then it just... So this stuff doesn't get me too excited,
but we'll see what happens.
Logan, any thoughts on your side?
Does this make Kaido...
Is Kaido a screaming buy?
No, I'm not buying the token.
You know, my thoughts... I don't really care that stuff's
gonna get gamed because stuff gets gamed in every single market ever kind of uh again apathetic to
that but it stinks when the things getting gamed like naturally are going to impact our consumption
on the social media side like i don't want twitter to get even i guess you know how much
worse can it get but like i don't want it to get even worse than it is now and that's my concern
with the gaming stuff at least when like the super bowl halftime show gets gamed it only is impacting
like you know maybe the performers or whatever uh and not our you know not our consumption habits
well it was impacting insiders as well.
Insiders who bet that Cardi B wasn't performing
because they knew that she wasn't,
but it turns out that she did.
Notably, Couchy on the CNBC homepage today,
Super Bowl trading past a billion.
And I think I saw that the total Nevada handle
was like 147 million.
So they are just smashing the IRL sports books right now,
which is a pretty significant total, pretty significant trend.
Volume is up 2,700% year over year.
Bad Bunny's first song marked $100 million.
This was the wild one.
We talked about this yesterday with Mando.
But $100 million bet on the first song of the halftime show.
It's not gambling, Tyler.
It's a truth machine.
We're predicting.
Predicting the future of what Bad Bunny will open with.
These are the important things that degenerate males need in this country.
There's more opportunities to gamble on random shit
that only 1,000 people have inside information know.
Do you see that quote there in the middle from Tarek?
Down a little bit.
The insider trading risk is very real for the stock market as well.
Yeah, except for the fact that if you get hints of it,
you go to prison for 10 years.
I've seen mid-level guys at Netflix go to prison because they told their dad about what earnings
would look like. Literally. I mean, there is an entire, like the idea, the tendency for new
markets to blame traditional markets when traditional markets just have infrastructure
to prevent against this stuff and such extreme
consequences that you just have to be an idiot to risk it and versus this stuff where you basically
have brian armstrong saying it's actually a good thing because it's a truth machine not a game
market it's like guys but whatever it's play stupid games win stupid prizes you know it's
you're betting on the first song then and you don't realize that there are a thousand people out there that know the
answer, then it's your own fault for playing that game.
If you don't know the answer.
I do think we're going to a world.
So like jump trading is going to start getting equity in Polymarket and
Couchy for, for market making.
Like how far are we from just like the,
the fake insider in a lot of these markets where fresh wallet comes in,
bets 30K on the side just to trap folks.
I feel like the follow the new insider bet is not going to last.
Well, it's just going to get won by more manipulators, right?
But it's like, I don't know.
I have one of my best friends from Uber is actually a very senior guy at Cal
Sheenies.
I'm spending this weekend with him.
So we'll see.
We'll chat.
Yeah.
Let us know.
I imagine we'll chat truth machines.
I imagine that they're in good spirits after this weekend.
I mean, the volumes have just been awesome.
I think the business is unquestionably booming.
I think there is realistic concern that, that it of short-lived in the sense of just the regulatory edge that's out there may not be long-lasting.
And I think also anytime you're on the inside of a company like this that's just growing so damn fast, it's hard to keep up.
But can't complain when you got the money floating and the other aspect of
this i've seen the take that uh the cftc is woefully understaffed
to the point i felt this take that there's one lawyer left in the chicago office
and basically those did not cut the deficit but it did cut the number of
people working on problems so there's there's basically no way there are no police
no we joke about the last yeah that last quote oh i noticed this yes if i was a different person
i would launch a crypto scam right now because there's no cops on the beat not great unbelievable that
was nothing the core I wanted to see what I mean it's the same thing with the
IRS like there's never been a better time to like shoot your taxes they said
they got like HR people out there auditing folks. So the,
the wild West will likely continue.
Let it rip.
Let it rip.
And the prediction markets are jumping all over.
Do not think they're actually,
I do.
I am curious.
So where do volumes go from here?
I mean,
the Superbowl pretty big blow off top.
Like are these levels of volume going to continue through NBA?
I mean, I guess we've got olympics um yeah you have a lot of i mean march madness is a month away
i mean the sports stuff like there is there's really no better time than like well maybe like
in the october range you know post super bowl though this is a this is a pretty key sports
level at least for American sports.
I don't know too much about the soccer schedules,
but you got March Madness coming,
you have the NBA playoffs coming shortly and more meaningful NBA games for a third of the teams anyway.
You have baseball pitchers and catchers reported yesterday.
Of course, those aren't going to be Super Bowl-level events,
but the addition of all of them together uh you know should should keep markets and volumes up because
i mean all of the mark all the volumes are getting are sports right like 90 of the volumes are sports
it's a sports gambling platform like that's what it is we can get the you're right though march
madness you know like the nba finals i mean that super
bowl was terrible too it was not like a very gambleable super bowl it was absolute garbage
yeah it wasn't even like a a highly evolved game by any means so it looks like a so 70 percent of
the volume last week was sports i would have guessed higher i bet the category marking on
this is probably so bad
Because the entertainment ones are probably all Super Bowl related
You know, it's semantic arguments here about what should be labeled what
It's all sports related
That bumps it to 80%
Cal She's volume last week is higher than the entire prediction market peak for the 2024 election
To give you some perspective on where this is where this is at so they're
certainly blowing it out all of vegas i think it's higher than all of nevada
times like five yeah that was the state i rolled off i think nevada took like 147 million and
kalshi did a billion what yeah i mean i think robin hood funnels through
kalshi so all the robin value volume shows up as kalshi uh yeah but maybe not for too much longer
right they uh so robin hood and susquehanna purchased ledger x i think at the end of last
year uh with the expectation that that deal is going to close sometime soon.
Yeah.
Potentially be able to offer their own liquidity and, you know, branch away from, from Calci as well.
At least I think that's the suspicion about why they went ahead and did that.
I don't know that there's been formal details about the plans there. So, but yeah, Robinhood, a serious, serious part of the distribution for Calci.
That's for sure.
They've got bigger brains.
I can bet on Robinhood in three clicks,
and Calci would take me a little bit more to figure out.
I don't even have money in Calci.
Robinhood's leaning in so much that the homepage of their app
had bet on or predict Super Bowl action over the weekend,
so they're clearly leaning in.
Well, like Gemini, you might have talked about this last week, Tyler,
but Gemini cut 25% of its staff, right?
It exited markets overseas to focus on prediction markets.
You know, that was like one of their core focuses,
focus on the American crypto market as well as prediction markets.
So it's kind of, it's, it's why, I mean, everybody is playing here.
Coinbase obviously playing here too.
I've seen only, I've seen nothing good about Coinbase's prediction market thus far.
I don't know if anybody's used it or not.
It would just get booed like their Super Bowl ad.
We talked about that enough.
Even the Morning Brew picked it up.
This is the average American reaction to the Coinbase Super Bowl.
And it was the clip of them flipping off the screen.
So not the best.
You know who's not buying a prediction market at least yet is Mr. Beast.
He's busy buying a bank or a banking app.
His Mr. Beast Industries just acquired FinTech startup Step,
which I guess is a banking platform for teens.
So he is leaning into teen banking.
They've already raised $490 million.
Pretty high-profile folks.
Steph Curry, Justin Timberlake, Will Smith, and the Chainsmokers.
This is who you want to be investing alongside titans of industry from the fintech investing space.
Don't know a whole lot else about this startup here other than the backing and Mr. Beast getting
in. I think he's got the messaging here. It's important to understand financial health from
an early age. He wants to give younger folks the tools to do this.
Logan, I'm not sure if you looked much into this.
Yeah, I mean, there's not a whole lot.
It is an FDIC insured.
I mean, like this is, I guess you'd consider real.
I had not heard of Step prior to this article yesterday from Stacey.
But I think I can resonate with the message about younger folks.
I think it singles out here Gen Z in particular, but young, even younger folks than that needing to be aware and be educated about personal finance.
I think I don't I don't know if the quote is in this particular or maybe somewhere else that he mentions that nobody taught him anything about, you know, finance as he was growing up.
I can see, you know, at least from my own experience,
nobody really taught me anything about savings,
investing, et cetera.
So I can definitely understand the message and I think that's admirable,
but they're also like a business that needs to make money.
So we'll see exactly how it manifests itself
at the end of the day.
Yeah, I think that's a common trope
that one of the problems with American school system is there's no personal finance.
I think the easy counter to that is who's qualified to teach that on the local individual level and what rules are out there that they're going to follow.
Because I think folks have a variety of risk appetites.
And yes, you can teach the basics.
I'm in the camp that that's not necessarily a huge problem that you should teach other things uh personally that's a longer discussion but i am so like our teens just if your target audience
is teens so you just teens are going rogue and opening their own bank accounts their parents
aren't aren't helping them out um i've got a lot of questions on the user base.
Maybe it'll be the home for Trump accounts or one of the homes for Trump accounts in the future.
Are you talking about some stat that 40% of 18-year-olds have gambled at some point in their life or something?
No, I wasn't mentioning that, but that doesn't surprise me.
I'm actually surprised it's not higher than that.
It might be.
Stats just spitting out,
kind of random misremembered stats.
It's going to be a huge deal
where the Trump accounts do go.
I thought it was going to Robinhood,
but maybe I'm misremembering that.
We'll have to,
we'll have to check that out.
I don't know that Mr.
Binks,
B spank is,
is in the front running for that,
but certainly is,
is possible.
They're Logie going through the rest of the headlines on what was like
kind of a headline heavy day.
Not,
not a super juicy headline day.
Tempo continues to take all the talent from the ethereum ecosystem so that they grabbed the farcaster
co-founders daniel mara varoon uh officially joined tempo this came how long ago did they
they walk away from farcaster was that that a week ago? Two weeks.
Yeah, two weeks, something like that.
Yeah, so now we know a little bit more about the background and perhaps why.
Saying stablecoins, generational opportunity.
Tempo working on the most important problem in finance,
building a global payments network that's fast, inexpensive,
and transparent.
This comes along with their deep bench of talent.
They have Dinkrad from the Ethereum Foundation along with others.
So is Tempo going to be the slam buy when it comes out?
It seems like it's setting up that way,
but likely it won't be cheap by any means.
Not sure if you had any reaction to this.
So, Logan, we haven't really
debriefed i think you were a farcaster user at least briefly yeah pretty heavily for a bit um
i don't have too much to add uh you know the decentralized social stuff seems great in uh
it's ambitious like lofty goals um especially as we've talked about the product
that like Twitter has put forth at this point in time
or X, whatever,
just unable to keep and get users.
And so you saw Farcaster kind of spin right
to like the wallet focus, the tradable asset focus.
That wasn't doing it either,
but it seems like the spin out
is going to be a continuation of that to some degree.
Actually, kind of related to that in some way, did you see the notification from Jesse at Base yesterday about the Base app?
They're shutting down the creator fees, I think, moving to just tradable assets.
Crypto social, decentralized social, whatever you want to say. It's just like, it's really hard.
it's really hard.
Nobody has solved it just yet.
so a lot,
I mean,
there's like almost too many problems to try to solve.
As soon as you attach tokens and stuff to,
to the social component,
it's almost game over.
I didn't see Jesse's comment.
I'm not sure if this is the one.
So we're making base that feed
tradable assets only yeah no farcaster i'm not seeing the fees in this post yeah it might be
in the base one um the quote tweet yeah yeah so the ship we're sunsetting creator rewards like
that was you know that was the thing that they were championing so hard crazy what do you guys think
of just like this big picture trend going on in our country right now and that kind of crypto
has always stood for man i'm curious because you're deep in this game but like on this idea
that you should be able to gamble and bet and on everything and people sometimes like use the term
financialize everything but we're seeing
it in tweets like this we're seeing it in jesse's like kind of idea of tokenizing like creators
and obviously you know prediction markets and giving everyone access to basically
spend you know and not only that like every commercial is like a draft kings ad right now
and it just feels like we're in this moment where there's some idea that being able to gamble
on basically everything that moves
is what this world needs.
And is it just being pushed by the people who earn fees?
Is this actually something we believe in?
Manuel, you might be on mute.
I do think we're heading towards
hyper-gambling in society society and i think that's more
reflection of income inequality than than it is um around the gambling firms um i think obviously
there's been acceptance of it too but i just think that people are realizing that the way that
particularly the last 15 to 20 years of capitalism have worked it's not it's become about who owns assets and if
you haven't owned assets then or like a huge amount of assets and you've kind of been left
behind so this idea that the only way to like get to the next rung is by gambling and some of that's
overt in that like it's just a casino and some of that's everything that people do in crypto meme
coins leverage um prediction markets you know like the reason why people are in crypto, meme coins some of the prediction markets,
I think has been in some ways even more aggressive than,
like, have you seen these Couchy ads?
They've got a lot of heat recently.
Like the tone of them, which is like, oh, you can't pay your rent?
Gamble.
Yeah.
And it's like,
I feel like the right thing to be promoting i have this visual of the
gas station kind of to your point mando where you always have like three homeless people buying
lottery tickets you know and it's like we're just trying to like amp that up on steroids now
and make that a full society thing i think that's probably probably fair but
i also don't like the amping up i think is also like a direct correlation to this the actual
situation in society which is people just don't feel like they can they can own a house they can't
they can't rewrite themselves and if they work as hard as they possibly could they couldn't get to
the sort of levels that they need to to do certain things so they see this is like right well try this and some of it's more overt and some of
it isn't um but i think the idea of people having to reach for more risky things to to make big
changes to their life is yeah it's just going up it's going up massively i think i'm on the other
side of that to a degree like i don't deny that that is happening.
I think it's one of those things that's like,
it's a little bit more geared to those who are like terminally online.
Like they feel like this is this trend.
Like my group of friends who skew like sports gambling heavy,
people are betting on the Superbowl, maybe a hundred bucks.
Like they're doing it
for fun like no one is betting on it to try to make their rent for for this month yeah i skew
away i just think like we're in just like a i think it's kind of part of the whole trump movement
the crypto movement the freedom movement it's like freedom financialize everything power to
the people when in reality it's just a big wealth transfer from retail to
shareholders and a lot of these companies and somehow you know and to your point like earlier
tyler it's like you get rid of the regulators and you kind of regulate regulation bad freedom good
just feels like a bit of a social movement right now where it's actually the losers who are
promoting it it's like they're kind of it's they're kind of working in conjunction with the shareholders of of the companies they're just raking in fees and putting a calciad on every
single reddit feed on the planet i don't know if it feels less like just a natural outgrowth of
widening wealth gap which i do think is the cause of most problems in society right now and polarization and whatnot. But, um,
interestingly feels more deliberate.
It feels more like a movement happening and like,
it feels like it's actually somehow through this administration,
as well as through the crypto movement and the bro movement and pitched as
freedom and, you know, getting rid of the banks.
And instead we're just going to like give our money to cal she
betting on if someone's gonna run naked on a football field but i don't know you guys know
me i'm a i'm a cynical boomer a little bit but like my mother-in-law last time i was with her
she crashed out briefly uh she's like she's she said like i'm paraphrasing it's just it's
everything's gambling bet on everything and it kind of came out of nowhere.
And like,
you know,
I live in that world and we live fairly different lives.
And then she kind of came out of nowhere and said that like,
okay,
like this actually is getting pretty pervasive.
Well,
it's every single ad you see is from draft Kings.
I mean,
she should meet my friend,
Jesse Pollack.
I mean,
he literally talks about everyone should be betting on creators and no one,
we still don't even know what that means.
It's weird.
It's weird coming from Jesse,
who I've always thought is just such a dialed-in smart guy.
Well, Nigel, I've got the post up.
I don't know if folks saw this.
He co-founded FanDuel and has been deep in the gambling space.
He called out Koushi's latest ad campaign, effectively,
drew the comparison
to jewel and now jewel had a very positive approval rating early and then quickly went south
and largely because of their their ad campaigns and how it was geared towards kids
and that cows he needs to be careful because they're kind of going down a similar route here um the number of people under 18 who've gambled logan you're right it's like 70 percent uh and
it's going higher sports gambling revenues were up 57 year on year this past october um so yeah
and i think the bigger thing the bigger thing is the user experience just isn't good you know like
it's good when you win but over time you lose and you lose because fees decay you eventually you're
going to have that one you think you won but there's something in the t's and c's you didn't
understand and and if you are not an insider outside of like random sports gambling uh you
know you're you're going in 30 70. i just think over time people are you know not granted
the casino industry has done well even though people lose money all the time so perhaps i'm
wrong but i just like question if the user experience is as buttoned up as it wants to be
to like a long-term retention i think it's interesting that some of the big brands have
also pivoted from the truth-telling machine narrative to now just the bet everything
like i think that's a tarik and calciar just pure bet everything that that's their their tagline
now but did you guys bet when you're under 18 because i didn't
i didn't but you couldn't you couldn't the uk has got a much more liberal attitude to this than
the u.s has had for a long time so like sports betting was like i mean i i attitude to this than the US has had for a long time. So like sports betting was like, I mean,
I used to be on the Grand National every single year.
Like when one of my, some of the earliest memories,
it was just like a horse race.
Like the UK is a bit different.
I think maybe the rest of Europe slightly different.
Some countries like Italy's got a lot of gambling for a long time.
It's just, I think in the US it's, it's been,
it's been rejected for a long, long time. i think in the u.s it's it's been it's been rejected for a
long long time and now it's suddenly opened up and that but that happened under biden
this has been brewing for a while yeah even earlier i think it's been rejected i mean i
don't think anything like this year mando sports gambling revenue in 2025 up 54 versus biden's
last year i think there's just a movement right now to get rid of regulators in the name of freedom,
give people these chances.
And ultimately, though, any movement that has these values in the end accrues to the
fraudsters and the insiders.
Yeah, no, I think the poly market, the allowance of prediction markets in the. is something that, I mean, we spoke about it yesterday on the show.
That really will open up gambling.
The way that it's done as well is very easy for people to understand.
I don't know.
You guys can decide as a size if you want it or not.
I think the big thing for me that makes it is that it's much easier to go on to like, you know, Avalanche playing the wild 70-30.
That's just more intuitive than negative 160 or plus 120.
Like the way that it's presented to me just feels so much more digestible than the way sports books are in gambling.
Where you see these random numbers and i've had so many
smart educated people like what does minus 140 mean um and this is just right there and you can
watch it real time and there's something about like the excessive kind of like robin hood did
with stocks i just think like the form factor works so much better and everyone was already
onboarded onto robin hood so you like you didn't
have this onboarding problem another big change is it's easier than ever to bet live like you used
to not really be able to and then you started you started were but it wasn't the lines were as good
but now like you i think a ton of their action i don't have the data but i feel like a ton of the action has to be live in game um but it's an interesting discussion there stas thanks
for bringing it up the other thing i will say is like you know i think when i worked in the stock
market it was like widely accepted that you know cigarettes alcohol and gambling were just like
the forever industries now cigarettes i think is kind of on a structural decline but the broader point of like vices regardless of how good they are for you just seem to get wallet share over
time like feels and i think what mando's saying kind of supports that as well i mean alcohol's
in decline as well right at least in short term that's true no one drinks anymore it's kind of
annoying actually i hate going to like a party no one's drinking i'm like what are y'all doing
it's the GLPs.
And the peptides.
But my friends who drink aren't all on Ozempic.
My friends who don't drink, I mean,
I got a lot of friends who've quit drinking.
I'm like the one who supports drinking on the timeline.
I feel like NFT God,
these guys are literally talking about drinking.
It's the destruction of humanity.
Do you know what I blame, actually? i blame the whoop strap and aura yeah yeah because whoop i mean there's
nothing that's more toxic to the numbers that some engineers in boston have decided is important for
your health than than alcohol alcohol literally like if you drink like five beers the whoop strap
basically sends you like
a funeral home a funeral home number just so you can start getting ahead of things like
you know your recovery score is like three out of 100 if you have too much alcohol so
you know sometimes that etches how one feels the next day though sometimes it doesn't my thing on
alcohol here's my the reason i like alcohol is because i would not be married to my wife if we were for alcohol we have three days she was in hong kong for three days
like neither of us are the type who put ourselves on the line and like a few beers deep we put
ourselves on the line and 14 years later we've been married for 14 years and i honestly don't
think she and i would have actually had the courage to you know so that is something where
meaningful now i also don't
have drinking problem you know like now if you told me you can't drink for a month i wouldn't
care if you told me i couldn't drink coffee i'd be like oh that kind of sucks but like
no alcohol would be no issue but i'm just like alcohol has helped my life like a lot of events
i just like had more fun made friends because i just had a few drinks so i don't know i'm actually
i'm bullish alcohol but again it's sensitive to say that when it's ruined so many, so many lives.
I met my wife at a sluggers, a fine bar establishment next to Wrigley field.
So we're so fast in person, Tyler, meeting people in person.
And there's something to lowering one's inhibitions. Right.
And I think I understand the negative effects,
but if you're not drinking and health maximum,
you're just staying in your basement and on your phone all night.
All right.
Or going to a bar,
kind of retweeting Mando's daily messages from the bar
because you haven't had enough to drink
and you don't want to go talk to people.
I'm for it, though.
Elon's paying more for Mando, so I like that.
Yeah, a lot of Sluggers fans in the comments.
We'll have to have a Sluggers meetup with some of the boys
if prices ever rebound.
Maybe I'll pick up a few myself.
Well, folks, we went off the rails a little bit,
but it's a fun discussion.
And honestly, there wasn't a whole lot else to talk about.
Banker went up substantially
had a nice little 30 move it does look like they have launched a new token launcher i think this is
also somewhat correlated with why jesse turned off the creator fees the base team has clearly
found like this is their new it factor they've got the agentic tokens right now. They're going to lean into that. So expect
more of that. Banker is kind of in pole position right now, but at a hundred million, a lot of
things have to go right. I have noticed that revenue is starting to fall down a little bit.
So I think if you're trading that banker token, you want to keep an eye on that, but big move
there overnight back up at 111 million basically at new highs local new local highs um
yeah and that not a whole lot of meme action really to to go through this giraffes meme was
the big runner of the night it went up like 10x endure the storm because the giraffes have nowhere
to hide uh during the the storms out on the savannah. So that is our analogy for us still in the crypto trenches
during February 2026.
There's nowhere to hide.
So you got to endure the storm.
With that, producer Charlie, let's give away some yeet money.
I brought the lucky dog.
I brought the lucky dog for the spin.
There he is.
There we go.
All right, let's give it a go.
Ginsby.
All right, Ginsby.
The name is familiar, but I don't think they've won recently.
So I know producer Charlie will check behind the scenes.
So again, folks,
how we're doing it this week is we're going to select one winner per day.
And then next week when for Oak spec,
we're going to do a mega spin.
Everyone's going to get to come on and,
and get their action live.
Gizby says,
finally me,
congrats.
You have won,
sir.
Well,
I want to thank all of our listeners for tuning in today.
Stats.
Thanks for joining us. Stats plus dog. Mando, of course, Logan. Thanks for jumping, sir. Well, I want to thank all of our listeners for tuning in today. Stats. Thanks for joining us.
Stats plus dog.
Uh, Mando, of course, Logan.
Thanks for jumping in today.
Folks.
We'll be back tomorrow at 10 a.m.
Eastern until then.
Go have a beautiful day.
Goodbye. Iγγ
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