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FOMO HOUR: Crypto Selloff, Harvard Rotates BTC to ETH, Vitalik on PMs
Recorded: Feb. 17, 2026 Duration: 0:56:49Space Recording
Short Summary
In today's crypto landscape, significant developments include Dragonfly's $650 million fundraise, Harvard's strategic asset shift from Bitcoin to Ethereum, and Kraken's innovative sponsorship for newborns. Additionally, the intersection of collectibles and crypto is highlighted by Logan Paul's record-breaking Pokemon card sale, while Andre Cronje's Flying Tulip project introduces a novel ICO structure.
Full Transcription
Music Thank you. 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 아 gm everyone and welcome to another episode of fomoO Hour. Today is Tuesday, February 17th, 2026.
Folks, today's big day.
It is Fat Tuesday here in the United States.
Get those king cakes ready.
Also, Chinese New Year begins today.
It is the year of the horse, the fire horse to be specific.
Will it be enough to light a fire under crypto's lagging performance
we're gonna talk about that on today's show plus a lot more i'll be in the hosting seat i'm tyler
d i've got logan on with us here this morning as well logan jim how you doing hey good morning
tyler i'm doing well we've already partaken um unfortunately as you know i'm trying to do the
opposite of gain weight uh but marco ran
out really early this morning to apparently there's a german donut thing that's popular
here in this area now that we've moved to okay for fat tuesday so she ran out to a bakery and
grabbed us a couple i took two bites and and had her uh remove the rest the rest smart day
smart move yeah i was staring at the king cakes at the grocery store yesterday.
Had a bit of a fat weekend myself. I visited some friends down in Charlotte.
We ate well. I had a good time down there. It was a nice long weekend.
Hopefully folks are enjoying it as well. Now back at the desk.
It seemed like it was a little bit of a kind of a quieter weekend in the crypto space,
but now things picking back up here this morning and over the last day. So we've got some stuff to
get into today. No, Farrokh, you may have seen that already. He's down in Mar-a-Lago for the
World Liberty Fire Conference today. So very curious to hear what comes out of that. Mando,
I'm sure will be on with us shortly to talk markets. Check in on some of
his calls from last week. XMR, I think, performed well, but Zeke kind of came out of nowhere and
passed it there on Friday. We're going to go into markets. Stocks are down. Metals are down.
Crypto's down. It's been a rough morning across the board. It seems like the IRN situation is
escalating, but recent comments say maybe not. They're kind of speaking out of both sides of the mouth right now.
So we'll dig into that a little bit.
Dragonfly, $650 million crypto fund.
People are still putting money into these crypto VCs despite market conditions.
So we'll talk about that.
Harvard selling Bitcoin for ETH.
Kraken's now going to be sponsoring some Trump accounts.
The Logan Paul Pokemon card sale.
Geez, Louise.
Arguably the biggest story of the weekend for physical collectibles.
We'll talk about that.
And then Metallica had a very spicy prediction market take.
So we'll dig into that one as well, plus a lot more.
And we'll do some Yeet action as well at the end of today's show.
Because folks aren't here, we're going to do it similar to last week, folks.
We promise.
Keep staying tuned. Hey, we're going to pick it similar to last week, folks. We promise. Keep staying tuned.
Hey, we're going to pick a winner at the end of today's show.
And then on Friday, we're planning for Friday to be our mega-yee day.
Or we're going to have all the winners come back,
and we'll do probably a solid 15, 20 minutes of action.
So your time is coming due.
We appreciate your patience, as always.
And with that, I'll do my best manual impression and kick us off
with a little market report. I'm going to share my screen for those who are in the stream. Give
me one second here. All right, let's take a look at the board. Logan, so Bitcoin, 67k, 7.1. It is
down 2%. So we were hanging out around 69 most of the weekend. We basically, we pumped Friday.
We were sweating the Ace Trader comp alive.
We had some nice volatility.
Long was the position.
Looks like we got up to like 71 or so over the weekend.
So a decent little pump.
Yeah, we went all the way into Sunday.
Peeked around 71K early Sunday morning.
Has sold off a bit.
But man, it's still just squarely in the chop zone. Sunday peaked around 71 K early Sunday morning has sold off a bit 67,
but man,
it's still just squarely in the,
in the chop zone is really my read on this. So basically the whole month of February,
it seems.
So we had to sell off to kickstart February.
Went all the way down to 60.
And now we're just kind of hanging out in this seemingly 65 to 71 range.
So we'll see if anything kicks us out of there.
I wrote on Friday,
I don't know if you saw this report from crypto quant, Tyler,
but you know, a lot of folks, of course,
I think around Friday's timing, right?
With that pump up,
maybe hoping that we had found that bottom.
The crypto quant report that I wrote about,
you know, which used some of their own
indicators like bear market indicators as well as the realized price which is kind of like the
average price of the last time that the the token transacted um they have the ultimate bear market
bottom around 55k i believe it was um you know so anybody hoping for that even amid the pump on
friday of course you know that's since eroded.
But I mean, it's hard to argue with some of those other you had the Galaxy stuff from like a week or two prior to that.
It talked about like, you know, the move down to the 200 week moving average around 58 K.
Like those being the true, true kind of next level support stuff.
Yeah. And, you know, I got a lot of shit when i uh we came on here and
talked about how apathetic i was but you get this range what mando say last week when we were
talking about it maybe like yeah he could see like six months of this or something maybe i don't want
to put words in his mouth but if at least that's what i took from him whether he said it or not
here he comes um but that will i mean you gotta you gotta brush
for that that would be maybe not so fun six months in the 65 to 70k range would not be that much fun
but we've got the man here live with us manda gm how you doing hey guys how are you not bad just
uh getting into the market report it seems like we didn't really miss a whole lot from the long weekend.
Bitcoin did pump a bit into 71.
It was looking good.
And then we kind of just got squarely back into the range.
Right.
So not the most exciting price action over the last day and a half or so.
I saw what TraderMain now calling for a stocks bear market.
I haven't had a chance to watch his video.
I just saw the headline there.
Oh, really?
I would love to dig into the markets with you.
Anything that's jumping out here this morning?
I have to say I look through a lot of charts obviously every morning.
And everything just turned back down again like across all markets right now this isn't just a uh this has been kind of weird
for me to look at but you had um gold's turned down silver's turned down stocks have turned down, silver's turned down, stocks have turned down, crypto's turned down.
That's a very
strange scenario.
You don't see that that often.
I still have
the Monero trade that I have, that I
put on, which is kind of
maybe a touch lower than I put it on so far.
I put on about 3.36, and now it's 3.31, so it's now about 2%.
But everything else just kind of died.
That's been the only one I've kind of really capped in this environment.
It really doesn't feel that good.
And it's been surprising that it's like,
it is so macro that everything feels bad.
I wasn't expecting that.
So there's not one coin that I look at
that is now trending up.
And even the zero, we spoke about zero, right?
Oh, yeah.
Gave it all back.
And more.
It's lower than when the announcement was made.
Oh, jeez.
Why not?
And then you have everything else selling off
and gold and silver selling off,
and you have some sort of a rally in bond yields,
and the dollar.
But yeah, not a good environment for everything else.
I would say that the one thing I was looking at
on a dip is Google,
that has gone now below 300, which is kind of where I said my shop level was.
I am starting to buy Google.
Seems like a strong one to withstand the volatility.
So do we have insight to drivers of the price action?
So we have the Iran situation seem to be, like I said at the beginning of the show,
so the comments this morning went there.
There was actually some progress with the U.S. and Iran talks.
But then at the same time, like they're both flexing.
The U.S. is moving aircraft and ships over to the Middle East.
Now Iran sending missiles into the Strait of Hormuz.
So it doesn't seem like it's resolving perfectly by any means.
So is it that volatility?
Is it just still the AI overhang?
Do we have a read on what's causing this here?
You know what I mean?
I feel like you could point to a few different things.
I think the main thing has been this disruption around AI way more than this. on what's causing this here. You know what I mean? Like, I feel like you could point to a few different things.
I think the main thing has been this disruption around AI way more than this.
But maybe it's this, you know.
And we...
I'm just trying to look at the chances of a strike right now
on Polymarket.
Low.
Low, yeah. Fairly yeah fairly low so looks like
it's probably not that and it's most probably just the ai stuff uh which i kind of understand so
i yeah but the fact that everything's trending down is not normally a great sign
Yeah, but the fact that everything's trending down is not normally a great sign.
There's so much deja vu from March, April 2025.
At least that's how I feel a little bit.
I know the setup is different.
It was the tariff concerns that drove us down.
And then, of course, that led to the V-shape.
So maybe it's not exactly the same,
but just everything's selling off here at the same time.
Certainly not the most fun, which...
One thing I would say is that crypto is slightly outperforming.
Yeah.
And that is a good sign.
So maybe we are in a situation where
with everything looking slightly better.
Down 2.5% of the week
with most of that move coming today.
So yeah, we're just kind of flat for the most part.
Yeah, Logan's jumping.
I was going to say people are a little less fearful this week according to that number there. so yeah we're just kind of kind of flat for the most part yeah logan's jumping i was gonna say
people are a little less fearful this week according to that number there what was that
five or something like that last week you can only physically be in extreme fear for so long
before your body just starts to normalize a little bit and you just revert to the mean yeah
this is what i was uh when I was referencing the crypto quant
from earlier this week,
they have like a,
their own little bear market.
It's not quite a fear and greed,
but they indicated
we're just in the bear phase,
not extreme bear,
which is when you start
to get those like
bottoming structures.
So yeah,
some extended pain still,
I guess any indicator you look at.
At least that's how it feels when you're throwing in some sentiment, at least.
Which makes the news out of Dragonfly even more interesting this morning, right?
So the headline here, Crypto VC Dragonfly closes their fourth fund, $650 million.
Their fourth fund, $650 million.
Even after one of their partners went on record and called the current crypto VC landscape a mass extinction event.
So I guess he was talking about for other VCs.
But this is the second one.
So A16Z, they raised a huge fund with a large crypto component.
And now Dragonfly is out here with a huge raise as well.
So there's still money that is hungry to be invested in space, just not the tokens, it seems like.
So I dug into this a little bit.
It looks like their primary thesis here, the crypto infrastructure, stablecoins, on-chain finance, and tokenized RWAs.
The new mature crypto bet, the boring but profitable.
Logan, not sure if you had a chance to dig into that.
Yeah.
Well, I took a look at what you had sent through to me regarding the recap here, and that was exactly what I said.
They're betting on boring.
If you're looking at those headline categories for investment, it is all the stuff that institutional traditional finance wants to participate with, wants to grind small yields with, relatively speaking.
It is not the on-chain stuff.
It's not the on-chain stuff. It's not the fun web three stuff.
This is, you know, letting the real big money come in
or, you know, setting it up, right?
Trying to create the foundation to let real big money come in
and participate on the blockchain rails,
which is what I've been saying for a while now.
It feels like to me that that's where the ball is moving
and that's where the winners really will be made. It's less fun for us of course who are here every single day perhaps participating
um or hoping to participate in consumer type things but from uh at least from what you sent
me tyler i didn't see any mention of a consumer blockchain at all um, they're not going on consumer as much, right? Yeah. That was perhaps a bit of a surprise, but I still, I kind of lean perma optimist. I think there's a bullish
outlook here. Just, I mean, it's a lot better than just no VC money coming in, right? Like
there's, there's still huge appetite. and even if it is infra stables on chain
finance i mean there's going to that's going to grow the ecosystem which allows for additional
winners as well so i still think you need to be optimistic about this even even though it may not
be pumping your bags directly in the immediate future um so that was an interesting one.
I didn't know,
I hadn't gone through Dragonfly's history,
so they seedled Athena at 6 million.
Yeah, the big wins for them,
Athena, Avalanche, I think,
Polymarket they were involved in.
I think they were
they were Monad
famously
but I think that's actually been like a win for them
with where they got in maybe
and then
and then
yeah
yeah
but they
there is a fund
their fund is some blockchain
infrastructure but they've been heavy on the
dApps as well so like
they've done well on that side of things
and payments they did RAIN as well
this big payments company that's like been smashing it
so I think
they've done a lot better than others
yeah I mean they hit some huge
winners I mean Athena was a thousand X I think they've done a lot better than others. Yeah, they hit some huge winners.
Athena was 1,000x.
Then the Polymarket Series B, I don't know the numbers offhand for Series B.
They had the chance to lead the primary seed, but they passed and then came back for the Series B.
Still a massive win there.
So they're clearly doing very well, and folks are hungry to continue giving them more shots at it.
A few of the other headlines
is more macro crypto before we go down
the risk curve.
Harvard,
very interestingly,
they've got enough money just to be setting up their own
ETH position, but basically what they did
is they got up to like a
$330 million Bitcoin position
via IBIT in Q4,
and they trimmed 20% of it to add ETH.
So they sold some of their Ibit and then picked up the ETH-A shares,
which I thought was fairly interesting.
Some quotes from the folks behind this, the CIO, well, the CIO of
Bitcoin Standard Treasury Company said they think Harvard making a relative value trade with ETH
being undervalued relative to Bitcoin. So I don't know if we have direct insight to exactly why
they're doing this. Perhaps the monitoring that ETH Bitcoin ratio is a part of it.
It doesn't look great by any means.
I was checking in as I was writing this up.
This is not working, but Logan,
I'm not sure if you saw that one had any thoughts.
Yeah.
I just think it's, it's a fitting of the,
the trend that we've been talking about,
especially as it pertains to the
institutional adoption of
Ethereum.
The narrative around Ethereum for the last
year in particular as the DAT stuff has
spun up and you've got Tom out there
shouting stuff, Larry Fink a little bit
too as well.
This is the blockchain for the future
of finance stuff. At least from
my perspective, Harvard and
its endowment and all that sort of sits closer in proximity to the future of finance trying to be in
these more traditional rails. And so Ethereum makes sense to me there. Of course, that's all
speculation on my point. I don't have any other insights into that but um you know that coupled with the
underperformance if you will the relative value trade that you're just referencing
probably both uh both variables in a decision like this the yield aspect is interesting as
well but of course you have to yield is only great as long as the underlying asset isn't
continuing to grind down which means theTH Bitcoin ratio just does not look great
on a longer-term time horizon.
Looking at it here live.
Saylor and Tom Lee still chomping at the bit.
So Saylor made his lowest average buy in quite some time.
I shared it here this morning.
I'll pull up the exact numbers here.
What did we have?
They bought $168 million at 67.7 average.
So still a bit on the higher end, but not the peak high.
And now their overall average is 76K.
So he's still down a little over 10% on average across the portfolio.
And then I think Tom Lee bought like 68 million or so.
I'll have to look at the exact numbers.
I'm seeing down about 12%, 6.4 billion via Sailor Tracker.
I think that's real time.
It looks like it's fluctuating.
So not great.
Do we have the Tom Lee numbers live here?
Just real quick.
I'm rattling through these.
Let's see if I thought I saw 91 million that they bought.
I don't have it.
Had the update from the team,
at least here is pulled up 10.7 billion total.
Holding 4.37 million.
Still have their stake in Mr. Beast.
670 million in cash.
So they're still, they're keeping their cash pile.
I think that's, I think that's higher than it was last week.
So they're adding cash.
So still, still fairly liquid.
I have not, I think Froett just released his second interview with
tomley i've not had a chance to dig into that one we'll be curious if there's any insights from that
um but yeah the drop stab the drop stab thing uh which i'm not sure is up to date with this
most recent purchase has them down about 8 billion right now uh which seems to
jive with the the analysis that i had done it's really difficult to you have to the cost basis
stuff is tough because they don't report it every week like sailor does so we had to backtrack based
on a november 30th filing and then you know each individual purpose purpose purchase since that time. But that seems to be around the right number.
But mine stock down 60% from all time high,
a little more than that,
which is basically in line with Eve.
Yeah, this is exact.
I mean, that big spike,
that July spike that you're showing there,
that was like day one, basically.
Or, you know, the first few days of the announcement
that they were transitioning, you know transitioning from mining to an ETH
treasury strategy. And it's retraced it all at this point.
Giving it all back. I don't even really count that as more, but the all-time
highs in August and then through October, closer to the
60-62 range.
Tom Lee says crypto sentiment is as poor as 2018 and 2022 bottoms.
Yeah, hard to argue with that.
Certainly feels that way.
And I think some are pointing to the dad's actions as perhaps a driver of
that.
In lighter headlines from the weekend, Pokemon card,
$16.5 million.
Set a smashing new record.
So Logan Paul, he pulled off the trade.
He bought it for $5.275 million back in 2021.
So 3X to $5 million bet in five years.
Pretty impressive. And then it was Anthony Scaramucci's son who bought it, right?
Logan, do you have a chance to dig into this one much at all yeah i was actually following this a little
bit last week because i wrote up one of the myriad markets which had seen um a flip in the odds the
line over at myriad was uh would it sell for more than nine million and around last Thursday, when I wrote that, people were on no side prior to
Thursday, they were on the yes side. So of course, some dramatic, I should say,
you know, flips of the market and the odds there for how how high this would go. I mean,
the bids were at what, like 5.1 million coming into the last day, I think. And then, you know,
things, of course, get wild towards the end of the market it starts to end of the auction of course um i don't think this means
too much this feels like more of like a stunty type celebrity type you know splash make headlines
thing then you know some like inflection point for collectibles or anything like that. I don't know that this permeates its way into crypto punks or anything like
that. It feels more just like a splashy celebrity type thing.
I would love for it.
I'd love to talk myself into it being good for NFTs or something,
but I don't see that being the case.
Wild, wild sale. There's some other history to this too, right?
I guess I don't have the full handle on this,
but he briefly, he being Logan Paul,
he did fractionalize this through this liquid marketplace,
but then that marketplace went offline.
So it's unclear, I guess, if the fractional owners are going to get any of the proceeds of this.
And I'm not sure exactly when the platform went down if that means he bought the shares back or exactly how he left that situation.
I saw, I think there is a lawsuit already pending tied to it so perhaps more to come
on the the fractionalization of this of this card but man heck of a heck of a return there
and i've also seen the comparison to the that that rare nft that he bought for 625 000 it wasn't
azuki it was what was the other collection that was Izuki?
Only Force.
Only Force, yes.
He bought the Only Force for $620,000,
and it's worth like $600 now.
So that bet went the other way.
I just did one of those update articles for Decrypt
like a week or two ago
about when Bieber bought his ape for like 3 million or something,
1.3 million.
And now it's worth like $11,000.
It's sad.
There's,
there's a,
there's a huge appetite for that content just to,
just to see how down bad we all are.
So the highest,
yeah,
highest last sale.
Let's,
let's find this one.
It was probably this one.
Yeah.
So he bought this.
Or 188.
We have 360.
So this was 366,000 top offer on it right now is 4,000.
So he could sell it.
I'm sure we probably get a little more than that,
but not, uh, not, not we could sell it. I'm sure we'd probably get a little more than that. But not great.
Mando, can I ask, do you still hold any apes as a nostalgia piece?
Or are you completely out?
Out.
Out of everything.
Didn't tug at the heart enough to maintain one?
I think Obi maybe has one.
Maybe.
Like.
Maybe. I think he maybe has one. Maybe. Like, maybe.
I think he maybe has one.
But no, I'm a completely, yeah.
Got it.
While we're in NFT land here just for a second,
there was a surprising winner.
And D-Farmer has heard this one earlier.
These DelMundos, this kind of came out of nowhere.
We haven't really seen an NFT pump like this in a while.
These things were available below 0.01. You could have gotten these at like 0.004 ETH, which is like $8, $16, something like that.
And they went all the way to 0.15.
So still not a huge floor by any means, but one of the bigger runs.
So still not a huge floor by any means, but one of the bigger runs.
So a little bit of excitement desperately needed in the NFT sector there.
And, yeah, unfortunately, the Logan Paul Pokemon sale has not really sparked markets just yet.
But, you know, we are holding on with bated breath there for that one.
Continuing to go through the list here,
Patel had some interesting commentary
on prediction markets. I'm not sure if folks saw this.
It kind of got a little buried
over the holiday
weekend, but he
comes out and saying he does not like
the current state of prediction markets.
It's called them corpo slop
and a lot of just
short-term crypto price bet bet market sports betting, other similar things that have dopamine value, but not any kind of long term fulfillment or societal information value.
And I think that's a fairly that's a fair criticism, you know, from even just from how the narrative has shifted from the truth machine to going more downstream on these.
Now the narrative has shifted from the truth machine to going more downstream on these.
But then he goes out and lays out some more interesting use cases for these.
And where he basically goes, what do people who want stablecoins ultimately want?
They want price stability.
He says, could you use prediction markets to effectively hedge the basket of goods you need on a monthly basis?
So you have price indices and all major categories of goods and services that people buy and then have prediction markets on them.
And that it could effectively replace fiat currency.
You wouldn't need fiat. You could effectively just be, I guess, paid out in shares of these indices
and just convert your indices shares
for your basket of goods each month.
Which I was thinking about,
it's a little bit of kind of like a UBI.
Like there's a UBI tie-in to this to a degree.
Logan, not sure if you saw any reactions to his corpo slop comment
or his new use case.
So I totally agree.
I mean, prediction markets at this point in time
are super focused on the short-term, on the degenerate stuff.
I think everybody's in line with that.
I can definitely appreciate the ambition and the idealism here.
You know, I think he gives the example of the basket of goods in the article I read from Decrypt.
I mean, there's an example, too, about how you could hedge, you know, particular stocks that you
own based on who may be elected, right? If additional regulation or deregulation is expected,
like all those things seem great in practice and
really sharp people are probably going to be putting those types of trades on anyway,
right? To try to hedge their bets or increase, decrease risk, whatever the case is. But normal
people just aren't, are they going to do that? Like, I can't think I'm not going to do that.
Partly because I'm lazy, partly because I don't know what I'm doing.
So it just seems like too idealistic in my standpoint.
Like I can appreciate, I can definitely appreciate it,
but I see no way for us to get there really.
I mean, he's a visionary, right?
Right. So thinking through something that could be possible in five to 10 years using the tech that exists now, it's it's interesting.
So thinking through something that could be possible in five to 10 years,
Seeing the immediate path, I would agree, is not not the easiest.
Oh, yeah. I forgot the local LLM aspect of it, too.
So having a local LLM understands the user's expenses and they have a personalized basket of prediction market shares, which is in the number of days of your expected future expenses.
Certainly a novel way to think about prediction markets.
So you're effectively hedging the cost of what you need to survive on a monthly basis via prediction markets.
And then you hold that as effectively a form of stablecoin.
So instead of being paid in dollars or being inflated away,
there's a world where you get paid in effectively these indices that you could cash in.
So interesting thoughts there from Vitalik. I think perhaps the more interesting
is the pushback, right? I think the pushback that he's giving is somewhat indicative of a broader
pushback on the lean and sports gambling. And now the Polymarket came out last week with
five-minute crypto markets, right? So they're continuing to go downstream, so to speak.
And it seems like a growing number of people
are perhaps getting fed up a little bit with that.
Yeah, well, that quote,
if you scroll down just a little bit, Tyler,
there's that, yeah,
other similar things that have dopamine value,
but not any kind of long- term fulfillment or societal information value.
Not to speak for Vitalik, but I mean, isn't that the overarching trend that a lot of people are feeling about crypto, right?
And how it's lost sort of its initial ideals and now turned into or had started to at least turn into like just this speculative vehicle that is really adding nothing
to everybody's
daily life.
That's what it kind of feels like, right?
To a degree.
On the flip side, we've got the VC funds
that are just investing in
tokenized finance,
infrastructure, stablecoins,
and that's
people are bored with that, right?
So you kind of have to pick one of the, choose your fighter in that one there, Logie.
But yeah, I do appreciate where you're going with that one.
Going through the rest of the headlines again from a lighter week and Stake and Shake continues
to pound the table that their Bitcoin acceptance has dramatically boosted their sales.
I think this actually comes at a time where fast food is facing some issues.
I think I saw Wendy's is closing a lot of branches.
So perhaps there's something to this.
Wendy's could have saved their business by simply adding Bitcoin to their currencies.
They're accepted.
So shout out to Steak and Shake,
one of the few remaining Bitcoin bulls in public.
They've got Kraken backing the Trump accounts
for Wyoming newborns specifically.
So if folks haven't seen this yet,
if you do have a child under a certain age,
you are able to register.
You'll get these Trump accounts.
The US government's gonna give you $1,000 to invest.
When the kid's 18, they'll have access to the
funds. Um, kind of like a new, like opposite version of social security, which it is a very
interesting idea. And Kraken is going to sponsor this for Wyoming. It is unclear if they are going
to actually do some kind of a sponsorship match or what exactly their sponsorship entails. A match would be quite interesting.
We've already seen wealthy folks, billionaires coming out.
I like Michael Dell and his wife saying they're going to do their own version of this to help
contribute.
So expecting more of that to come, but shout out to Kraken for leaning in there as well.
And then there's a little bit of friction is not the right word. A little bit of
a hubbub caused by Elon and Nikita beer over the weekend. So a few weeks back, they introduced
their smart cash tags. They're going to lean more into just money on X. I think the actual
X money is coming very shortly.
And then over the weekend, this is tied to Banker.
Nikita Beer is basically saying that some of the crypto, the aspect of the products that are launching tokens and effectively begging founders more in the AI sector to adopt them has become like a real plague on the site and that they want to shut all this down, which did lead to a pretty big sell-off in Banker,
which had been one of the better performing tokens that we'd had over the
last couple of weeks, almost a lone price.
So I mean, it's down 50% from, from local highs, largely on the back.
You see the big red candle here
basically from 90 million all the way to 63 so that was a 30 sell-off on the back of nikita's
comments i think the banker team has come out and put a response i think they're basically
they understand it there's also the fact this is kind of terms conditions thing it's been
frowned upon on x for a while so it's more of a matter of like how, how hard will they actually
lean into all this? Um, but, but certainly some FUD since then the banker team has come out with
a new live feed. They also introduced this new burn token, which I haven't had a chance to, to
fully wrap, um, my, my head around, but they're going to, they're, They're going to be burning some of this burn token tied to the Banker new launches as well.
So we'll continue to look into that.
But basically, the entire Banker ecosystem took about a 30% to 40% haircut, which had been one of the higher performing.
Can we just go back and just, can you just try what Banker is a little bit?
Because you've said this a few times, but I don't really know what it is.
Banker is a protocol that allows AI agents to launch tokens.
And it has an X integration.
So you could actually give it commands on X.
So you could say BankerBot, swap $100 of ETH for $100 of Claude or Banker, and it would do it.
It would set up a wallet for you and do the transaction.
Yeah, I remember.
It's been out for a long time there, right?
It has, yeah.
It made a first run back in the original AI boom in late –
hell, that's actually July.
Yeah, it had a run back at the end of last year.
But one of the few that's actually kind of stuck around
and stayed building, and it seemed like this could be
like the perfect fit for the new ClawedBot,
OpenClaw, AI 2.0, whatever you want to call it, meta.
And they would be well positioned for it.
But now, I think broader concerns with Peter
Steinberg, I might be butchering his name, basically came out and said he almost deleted
the whole code base for OpenClaw because of crypto folks trying to get him to accept tokens
or something of the like. So the FUD between those two sectors continues to grow.
There is more than that.
It's like the BAGS token is the one that I think about where people launch the coin and they just like pester the founder until they accept it, right?
That's not – that is not exactly the model that Banker has. But I think there is an aspect to that, which is why they kind of got lumped in to all this didn't pump just do where you could like
set it to somebody's github too i mean these are all dicey i can i can understand if you're uh if
you're that gentleman or any person who's sort of unwanting and gets all that spam it feels like
spam in some way right yeah so we need to end that meta for the sake for the
sake of all our backs stop launching coins and begging people to accept them so that you can
turn a a quick profit because it's a bad look on the entire industry and then the other the real
runner of the weekend it was a fairly quiet weekend but this punch monkey token logan this
would be right up in your wheel yeah i Yeah, I saw this a while ago.
Not the token, but I saw the little monkey
who I think was ostracized, more or less.
I don't know the exact backstory.
And they gave him that little plush toy
and had been hand-raising and feeding, I believe.
Yeah, this is on my feed.
It fits right in alongside a lot of the other zoo and bird stuff on my feed.
So I should have been early to this, but I really was not paying too close attention to the potential meme coin spinoff.
Yeah, you weren't locked in on the long Valentine's Day weekend.
People just don't care anymore, man.
National Hippo Day was two days ago.
Mudang did nothing.
I mean, it's just
ridiculous it's funny you say they're actually calling punch the new mudang oh i love that too
much i mean this monkey is super super cute but there's there's so many great things i mean i
send you them from time to time like the little baby pygmy falcons that were born not too long ago i mean there these should have been coins back in my day they would have been coins and you know at least
some of them would have risen uh you know above the one million dollar mark uh doesn't happen
anymore there's no there's no shortage of cute zoo animals. There's just a shortage of able-bodied mean traders.
Exactly.
To pump them up.
I do not own any punch.
I missed this one.
So this is not a bag pump.
By any means, just simply commenting on it.
It did run $20 million in a day or so.
Went fairly viral.
Now selling off a bit.
So still remains to be seen if this will indeed be the next mudang.
I would say unlikely, but certainly anything is possible here.
This round this out.
That was kind of most of the items on my punch list.
I was checking in on hype again and looking at the hip three stats from last
week.
They, they are significantly lower still.
I mean, still, I say that, asterisk, the numbers are good.
They're doing $1.5 billion in daily volume for their HIP3,
which is metals and stocks.
But it is down about 50, 60% from peak levels.
Granted, this was kind of the gold and silver blow off mania days.
So perhaps to be expected, but definitely still a trend I'm watching.
The other aspect here, so trade XYZ, you've actually been looking at these numbers.
Trade XYZ just totally dominates market share. DreamCash is the number two protocol and Tether just invested in DreamCash.
So I think anytime Paolo and team invest in a protocol, folks start to pay attention.
So DreamCash, someone in trade XYyz allows you to use uh other stable coins to
for rwa perps stock perps um metals perps things in that category so perhaps a new player to watch
perhaps more liquidity coming into that sector and then the other story uh protocol level story
i saw from the weekend is andre cronje, he continues to build out Flying Tulip, which is his kind of everything DeFi app.
And their public ICO is live. You are able to buy in a $1 billion valuation. So not cheap by any means. Again, Flying Tulip touted as his full stack DeFi platform.
I guess what is interesting about the ICO is that it's got this perpetual put on it.
So all the funds are going into what they're touting as conservative yield strategies.
Then if you buy into the ICO,
you'll be able to burn those tokens at any time
to get your original principal back.
So I guess the 10 cent token price,
which is a billion dollar valuation,
does act like a hard floor.
So you'll have an ability to potentially capture upside
if you think it'll be valued more than a billion,
but you'll always have the safety net
of being able to catch this back
according to their docs and how this is all going to work.
So that is an interesting twist.
With that being said, the odds of a billion plus FDV are, I guess they're higher than I thought. So odds of above 400 million one day after launch, 90%,
76% to be over 800 million, 37% to be over a billion.
Pretty impressive, actually.
I mean, isn't this really bad if you're raising at a billion
and nobody believes you're going to be worth a billion the next day?
Why would anybody buy?
Well, because of the perpetual. perpetual well you have the downside yeah
of course uh bill i mean you're raising a good point but i guess what surprised me here is that
other just like infinex just came out at like 100 million right and grand these these are not
different founding teams different protocols but this has been a very brutal market to launch in.
So the fact that this thing is still heavily favored to come out over 800 million, I feel like that's pretty significant.
So that's making it one of the bigger ICOs to watch here for the near future.
I am not participating,
but certainly a notable one.
What's Monat at?
Let's check in.
So Mon's hanging out.
2.2 billion FTV.
And then Mega is 1.4.
Perhaps getting, we'll have to check in and see how they're doing on their progress
to their token launch
here I think they had 5 apps the last
time I checked in
mine adds up 32% in the last
week it's kind of random isn't it
unless CoinGecko is lying to me
that doesn't look like it's at 82%.
Well, it may have sold off.
So it went down.
It looks like it was up 30%.
Still hanging out over $2 billion.
Seems like a very strong price for the state of things.
And then speaking of tokens that folks are expecting to come out, but perhaps may not get,
we got an update out of OpenSea. Probably not the one that folks were necessarily looking for,
but maybe it is. Join us March 30th for a live event. Major updates on what we've been building,
where we're headed the next chapter for OpenSea sales up. Someone was replying to one of my old tweets.
OpenSea did come out and say
Q1. They basically confirmed
a token for Q1, 2026
at one point.
March 30th, I guess that gives them a
day so that they could do
a major announcement of that on the 30th.
Token comes March 31st.
Maybe it indeed is coming.
Do we have any timelines on OpenSea?
Will OpenSea launch token buy?
Let's check it out.
Markets are only getting at 12% to come out.
Wow.
75% by Q2.
So I just looked up the article that I wrote
when I spoke with Devin Finzer last year,
CEO of OpenSea uh regarding the token announcement
that was in february it's been like a full year since the the foundation i should say the openc
foundation unveiled the c token uh that is that's a long it's a long play out i'm not saying that's
even wrong for them to do i just can totally understand why as a participant like has there
been one longer than that i don't
actually know i'm sure there has been but i guess monad technically probably longer than that but
like you know typically the token announcement is followed shortly thereafter by the token
oh which has been part of the frustration objectively right is that it felt like they've
been talking about for a while at the same time and we've waited this long i think we want the token launch
to be good so i was actually perfectly i was personally fine with them trying to do what they
could to increase metrics increase profitability you know actually well at this point yeah at this
point there's no i mean you don't need to rush it out. Like, March 31st, if you're not ready, the market's terrible, whatever.
Who cares?
Do you want the OpenSea token by March 31st?
If this is the market it's going to launch in?
No, not at all.
Although, I mean, I wouldn't turn down an airdrop of any sort, I don't think.
But I don't suspect that my OpenSea airdrop would be worth really anything, probably regardless.
Even if the market was ripping, I don't think my OpenSea airdrop would be worth that much.
Yeah, that's the tricky aspect.
Then the longer the new window goes on, anyone who is a heavy 2021 user, you are probably getting diluted a bit by the current user base.
Which, I mean, of course, you could be a current user as well.
But that is the situation.
So March 30th, market calendars, folks, the biggest news ever from OpenSea will be coming
out.
I'm sure we'll talk about more as that approaches.
I think that's going to be it for today.
We went around the horn.
I did see a comment from Mando. Yeet, 1.6 billion.
Man, I feel like you guys just hit a billion a few weeks back.
I'm sure it's been a few months now.
We said we wanted to hit two by June.
Because we hit one in December.
Okay.
And we were like, and that was, we launched in March.
Or we launched in April.
So we were like, look, let's try and do this by June.
And that would be like 20% sooner or something like that.
But looks, if we keep this up, we'll be hitting it in the spring, I think.
Maybe in the month.
Who knows?
How about that?
I have to say, we had a crazy week last week.
This week's been a bit more docile.
I feel as though the market feels a bit more docile this week.
It's gone from everyone looking at prices
to just kind of like everyone not doing anything.
My Twitter feed this weekend was like the most quiet I feel like I can remember.
There was a handful of AI stories going around.
Yeah.
Very little.
That's probably not to say.
I mean, just as a question for you, what are you tweeting about right now?
I struggled this weekend to come up with anything to tweet.
And granted, I was like traveling
a bit, so I wasn't super locked in
by any means, but
it's tougher. I find
it difficult because it's like you don't know
you can't really like
make a trade call right
now because we're kind of sitting in no man's land in my
opinion. The market looks
like it's about to take a nose bath.
So like,
I tried to, you know,
I said, I thought Monero was
like the best one,
but even that,
I'm slightly down.
And it's not like it's gone down a lot as well.
It's not like we're dumping. We're just kind of just there.
And then
on the protocol side, like, there is some really interesting stuff happening, but it's not like it's gone down a lot as well it's not like we're dumping we're just kind of just there and then on the protocol side like there is some really interesting stuff happening but it's
not on the coin level everything's just chasing ai i thought about the other day that i might
for a minute i may replace the a the left curve corner section with more like just crypto macro AI because it feels as though if you're looking to make outside gains,
it kind of doesn't feel like it's in coins or NFTs right now. I don't know if you would agree
with that, but how are you making 10x right now? Somehow it doesn't feel like it's meme coins or
or like even coins. It kind of feels like people are doing it on Polymarket
or doing something
smart, you know, like
rather than just degen.
Yeah, I think that's right.
Although there still are 10x's
most days in the trenches, but you have to hit
the right coin, basically.
You can't miss.
It's going to be like 99%
bloodbath. By no means means is it easy there are still some
but i would tend to agree with your sentiment um but also like i mean it's not stocks aren't super
hot by any means either right so it's like like understanding these narratives for when the market
turns around i guess um yeah it's not like you can
even meme it and be like oh fuck like we're all gonna trade metals it's like no yeah good luck
sit there and lose money and trade with ai look it's tricky tricky time for we could have ai bots
create infinite content for us right now there's's nothing to create content about the dilemma.
For what it's worth, I've never had more content to potentially utilize.
This just has nothing to do with crypto.
Right.
I'm in real life maxing.
That's all I'm doing right now.
Logan launched a new maple sap stream over the weekend.
So he's got a sap tap going.
We tapped some maple trees at my house.
Got the first gallon today.
Where did you live?
I thought you were in New England somewhere?
Yeah, well, I just moved, but at my home in rural Pennsylvania.
Oh, okay.
We got a bunch of maple trees there.
I thought it was only candy
you've got maple trees, but it's good to know.
Some Pennsylvania maple.
I see a comment. It ain't much, but it's
honest work. That's exactly what it is.
That's all we're going to have
left in the AI era, is
honest work
for not much.
I'm working incredibly hard.
I am working insanely hard at the moment,
but it is not necessarily about crypto.
As in, it's about building a business.
And that has a lot of its own complexities.
But if I didn't do that,
and I was just sitting here looking at the market,
I think I would find it tough.
So I think it's probably good to have...
It's healthy to have one foot in,
like looking at stuff and also to be doing something else at the same time.
Otherwise you are literally going to tear your hair out looking at,
looking at markets.
You're going to get chopped up.
Now's not the time to be grinding,
you know,
five X trades,
10 X trades on,
on all of these wicks or grinding the trenches,
but keep tabs But keep tabs.
Keep tabs on things.
Understand what Dragonfly is going to put
$650 million into.
Yeah, come on, guys.
Tom,
see, if you listen to this,
let's put some money into you.
Let's build this, Dave.
We know you got it.
We know you got it in there, Tom.
Incredible.
On that note, Producer Charlie,
why don't we do our yeet spin here for today
and go ahead and wrap things up.
Tune in.
Tomorrow will be a way to Wednesday.
I think it's just more of a normal wheel.
Let's give it a go and see who we got.
Trundle.
All right, Trundle.
You won.
I don't believe I've called that name out
any time lately.
So that should be
a clean win. Here in the chat saying LFG. I don't believe I've called that name out any, any time lately. So that should be a,
a clean win here in the chat saying LFG.
All right.
You have one again.
We're not going to spend today.
Tune in Friday for our mega yeet action day.
Assuming broke is back.
He should be,
he might be back tomorrow.
He said today is the big day,
I believe down at Mar-a-Lago.
So he might be with us tomorrow.
But if not, we will be here.
Folks, I want to thank all of our listeners for tuning in today.
I want to thank you, Logan and Amanda, for joining as co-hosts.
We'll be back tomorrow, 10 a.m. Eastern.
Until then, go make it a beautiful day.
Goodbye.
Goodbye. Thank you.
