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FOMO HOUR: ESCALATION IN THE MIDDLE EAST
Recorded: June 13, 2025 Duration: 0:55:40Space Recording
Short Summary
In a dynamic crypto landscape, Coinbase partners with Shopify for USDC payments, while major players like Walmart and Amazon explore stablecoin issuance. DFTV secures a $5 billion equity line for Solana purchases, amidst significant market fluctuations affecting Ethereum and NFT valuations.
Full Transcription
Thank you. Thank you. No.
Check, check.
Check, check. There you go. go there you go there you go
what's up what's up what's up what's up everybody sorry vanessa keeps calling me at the same time
she should know the show it's showtime out of everybody maybe she's trying to get in the house
vanessa knows the most that it's maybe it's the time zone shit.
She's still getting acclimated because it's not 10 a.m.
Eastern, right?
You know, but out of all people on earth, my, my, my fiance knows about.
Yeah.
She knows about it.
All right.
All right.
Let me just text.
Okay.
That's good.
That's sorted.
What's up?
What's up everyone?
All right. Far coin Friday. Yay. I mean, it's kind of weird to say that today Let me tell you that what up mark well, eric a what I'm having fun. What up cash?
Sure up emlo. What up Griffin and people you would have musky what I saw master montez agent. I John go to
What up home club cow what a part of what up? What up? All right, baby Baby Thank you. Yo, yo, yo, what up, what up? Good morning. Good morning. And Friday.
Oh, it's Friday the 13th.
Friday.
I got my post in the house.
Tyler Mando. Good morning.
Eventful day. It's having an eventful day. I got my post in the house. Tyler Mando, good morning. Eventful day.
It's having an eventful day, I should say.
Not so beautiful, I should say.
I'm just used to my robot.
But a lot of things going on in the world right now.
Tyler Mando, how are you guys doing today?
How are you hanging in there?
Doing fantastic.
Yeah, it's still...
Read the rule, Mando. And then it happened. Yeah, it's still – Read the rule, man, though.
And then it happened.
Yeah, definitely, definitely.
Tyler, how are you doing?
I'm doing okay.
I'm hanging in there.
Our joyful June has changed a little bit.
I think joyful is no longer the correct word to describe the month.
Maybe we'll get back there.
Time will tell.
On a lighter note.
I am excited because I'm going to Indianapolis for getting forward.
Pacers Oklahoma city Thunder NBA finals today.
So I'll be there.
You're going.
Yeah.
Well,
I got a bet on you guys.
All right.
Pacers up to one.
It's a huge game.
So I'm excited to go down there.
If anyone's around the area,
hit me up. I'm homies in the area, hit me up.
I'm homies with the dad of the MVP
guy, Shay.
Oh, wow. Yeah, he's
incredible. Yeah, his dad's
a homie. I met him at a
crypto event. Wow. He was sitting
front row of my talk in Toronto
a couple years ago
with one of my friends who I guess he works
with and helps him. And he was like, yeah,
my son's going to be MVP of the NBA.
I don't follow basketball.
And two years later,
the kid, the guy's making 100
million a year, fucking MVP.
Yeah.
We need to pitch him our backs.
He's currently under contract
at $35 million a year, and that is only going to
go up.
I will let his father know that shy should put his take his next salary in part coin
uh from the okc right he plays for oklahoma yes
i know a little bit got a little bit of nba culture anyways today on the show well
we're gonna to have to
talk about the war, which fucking blows
because I have no
will for that,
nor do I really want to talk about this shit
because it's literally the only thing we're talking about
outside of the show, but it has
direct effect on the markets
because, you know,
everybody's got to sell their fart coin when
Israel strikes on Iran. this will never be funny.
There was a tweet, which is like ETH performed for a week and they started world war three.
I saw that tweet.
I think it was Evan.
Um, it's a, it's a bummer, but you know, Farquhar gets this.
Of course, the day we get the fucking coinbase listing spot and perps
Israel's like nope
We're gonna we're gonna bomb the fuck out of Iran's leaders, you know and nuclear plant
So so, you know trying to keep it light here on the show everyone but obviously it's not funny and it's not a good time
So obviously tossing prayers for everybody affected, but may as well take it that that way
So we're gonna talk about macro we're gonna talk
about crypto we're gonna try and go through tyler's topics because there's still stuff going on uh
there was some sharp link gaming stuff going on this and that so there's a lot of stuff to talk
about definitely gonna discuss with you and then uh three winners so it is far coin friday after
all so we are going to make three people to come on the show and win some money, win some coin raise as usual.
And then last but not least,
this show is powered by Wallet Connect.
Wallet Connect is a connectivity network
shaping the future of on-chain UX.
If you've connected to Web3 app,
you've seen Wallet Connect.
That blue logo,
it's everywhere
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Want to learn more?
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But also as of this week, we are also sponsored by cracking pro cracking pro gives active users exactly what they need.
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It's clean and smooth and built for real traders.
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trade without
trade-offs. Anyways,
Mando, let's get on this
talk about this market because
there's definitely a lot to
chat.
Who is the man
macro daddy of the land?
Can you dig it?
Yeah, not a great day for our backs, it feels like. I think there have been rumblings of this flare-up again in the Middle East.
Obviously, this has been an ongoing thing for a while now.
uh thing for a while now um and trump have been trying to get a nuclear deal uh signed with iran
remember the last major one was signed all the way back with obama um he had given a 60-day
deadline to get that deal done and then on the 61st day you've seen this So people I think there was some Assumption that nothing ever happens
With these sort of things and
Something's happened
So they did strike
A number of the nuclear facilities
Or assets which help
The nuclear facilities as well as
Strikes against many of the
Senior Iranian commanders
It seems as though
This might not be over or even close
to over here. There's indication from Israel that's saying this could go on for another
two weeks. Obviously, Iran says it will respond and then Trump has said, you know, come back
to the negotiating table or it's going to get worse. But we saw markets really react,
but we saw markets really react, as always, kind of poorly to war,
at least in crypto.
In stocks, it's not been that bad, if I'm honest.
But in crypto, we saw Bitcoin go down to 102K on the news.
It's since bounced back to about 104.5.
ETH went down to about 2,400.
It's now back just above 2,500.
I don't know where Solana went, but maybe around the 1.14 area.
Yeah, that's exactly it.
It bounced at 1.40 on the dot.
Yeah, and it's now 1.45.
But that's majors.
A lot of altcoins as well got the wind taken out of them.
So big moves, like 10% to 20%. I think crypto maybe is acting worse than macro here
because generally it will be open on the weekend.
And people don't love crypto on these liquid weekends
when Israel and Iran are going out.
We've seen that before.
So I think we could,
this isn't kind of the end maybe of the volatility
in crypto at least.
We'll see kind of how it shakes out next week.
Stocks are down about 1% on the S&P 500.
The NASDAQ is down about, yeah, also about 1%.
So really not a big move in stocks.
In some ways it's being taken
you know it's a bit mixed for u.s stocks because obviously a lot of them are defense related and
and you know there is something to be said here about the actual effectiveness of the strike
might actually lead to a better scenario and let's say the medium term with with um with
negotiations coming back so like it's not inclusive, kind of what
the end game is here, but it does seem as though crypto continues to not react well
to this sort of stuff. What we did see is oil and gold move up pretty rapidly higher.
Gold hit an all-time high, it's at 3,400 odd right now, and oil took a big move higher both on Brent and WTI.
This oil chart, gold chart is crazy.
Yeah.
So that tells you though that, you know, Bitcoin will catch a bit too, in my opinion.
And I think although we react badly to headlines in crypto generally,
I do think the headline that we probably just saw
is probably the biggest headline that you will see.
The other one, I mean, there are a number of other major nuclear facilities in Iran
that maybe they hit, but I don't think you're going to see a bigger headline than the one we just
saw, basically.
Apart from maybe a retaliatory strike,
but I don't even know if that will be with missiles.
That could be something else.
That could be more like a terrorist-related attack or a different sort of
attack, let's say.
So I don't know if that would cause like the same sort of um response uh by
the markets at least so yeah obviously not a great scenario uh just in terms of global peace but it
does feel as though uh this has perhaps been coming for a little bit of time i don't think
people thought it would actually ever get to this level but it has and
i don't necessarily think this is just going to be like a down only period during this during
if this conflict let's say continues before that had been an okay day like ppi came in below
expectations there continued we had everything yeah slightly better commentary around some of the trade deals being done,
although there was a talk about the China tariffs maybe returning slightly,
which is a little bit confusing.
You saw a number of different treasury companies again spinning up
and saying they were going to buy crypto.
I think we had one which was going to buy 5 billion of Solana. We had some for
Hyperliquid. We had some for ETH. We had some for Bitcoin. It was all looking pretty rosy.
But this crypto just does not like war, it feels like. This is multiple, multiple times
we've seen even more regional conflicts seem to lead to quite a big reaction on, on crypto.
Yep.
That is a good rundown here.
I mean, you know,
East becomes consensus trade for one week and we go to war.
It's not allowed to absorb. Not allowed to absorb. so it's
not allowed to
it's
so frustrating
it's a tough
it is a tough token to long
I think
I don't really want to comment on the conflict itself
I just want to be zoomed in
from a trading perspective
I think a couple of takeaways that I had
one I think it's somewhat notable
that Bitcoin sold off more during the trump elon fight last week we touched 100 500 i think the
bottom i saw yesterday was 1026 um so perhaps a sign that the dips are becoming more shallow
but with that being said i'm not holding my breath that that we're out of
the woods on this just yet especially if we see action headed into a liquid weekend like mando
said so it doesn't necessarily feel like a time to me to be like rushing back into positions
or turning up the the lever the levered dial just yet.
Yeah, that's, it's definitely, yeah,
it's definitely a lot going on right now.
And all we can do is just wait it out and see what happens this weekend.
But this is probably not going to stop.
There's an ongoing, like we were laughing when I said,
nothing ever happens.
Like something did happen this time.
So it's good for everybody not to just maybe
don't leverage trade and get chopped up, up and down.
Because there's going to be wild volatility probably this weekend again.
And there's ongoing war. I mean, I turn my notifications on for these, like,
these pages that gives you updates on like all the strikes. I woke up to like 500 notifications.
Yeah. Yesterday, you know, the OSINT defender pages and all those ones.
Yeah, I follow that one as well. Yeah. It posts like every minute though, dude.
It's this one. It's specifically this one. So I was just saying for people who are curious to this one specifically seems to be giving unbiased like updates i don't read the opinions that they have
because i don't give a shit about their opinion but it's just like give you updates on oh now
this this area or now iran said this now israel said that so they give you good like put like
this like several launches from the northern lebanon like they give you a good update um if
this is stuff that gives you anxiety just don't follow them you know it's not for everybody right
so just i do want to give that the the disclaimer out there but for me i like to be aware of the
shit that's going down i think this is where x shines right and people people love it to bash on twitter but breaking global news if you can find
the objective sources right i mean i was with a friend last night who i got the notification
fast because i'm on my phone i read these notifications really quick and i was like yo
this just happened 150x for bitcoin not me him and then made some money and then closed it
yeah i mean it's like you you get you have that edge i feel on x right but i feel like stocks
know everything first like stocks started kind of dipping during the day no mental history like
a little before it was fast that's what i've noticed crypto knows way. That's what I've noticed. Crypto knows way, whenever there's a potential. We get hammered the most, yeah.
It definitely knows.
Like when, you know, everything was looking rosy
probably two days ago, even kind of, yeah,
about two days ago, I'd say, suddenly start turning
and then you suddenly start seeing these headlines
about embassies being shot and like, oh, okay.
It is what it is.
Yeah.
It is definitely what it is.
Anyways, Tyler, let's see what you got for us today.
What's really NFT and crypto?
What's this?
Tyler, team on FOMO,
alcohols and kid games.
We're ready to bash the bears.
Yeah, folks, crypto majors,
very red this morning
amidst this ongoing Israel-Iran conflict.
Bitcoin down 3%, 104.4.
ETH now down 9% on the day, 2509.
Solana down 10%, 145.
Interestingly, notably, the ETH ETFs kept their inflow streak going.
Another $112 million in net inflow.
I'm curious what will happen here today.
It was a huge day for Coinbase.
Arguably the biggest news of the day not related to Israel, Iran.
Some major announcements out of their product day yesterday.
So they've given green light to Perp Futures in the US. They have this partnership with Shopify to accept USDC payments on base at
select Shopify stores. I believe they teased and integrated DEX on the native Coinbase platform,
as well as the, I feel like the flashiest news that people really rallied behind was this
Coinbase One card, their new credit card with up to 4% back on purchases in Bitcoin coming this fall.
So some major announcements there.
We'll dig into that in a minute.
This morning, Walmart and Amazon reports they're reportedly issuing their own stable coins.
So all the big players are looking at stables.
Players are looking at stables.
Mando alluded to this, but DFTV is the Solana corporate treasury company
that announced a $5 billion equity line to continue to buy Sol
with their Sol corporate treasury.
Along with their new stated goal, this is kind of a catchy new line.
They want to maximize SPS, Sol per share.
I like that tagline.
And disclosure, we're in talks.
We're hoping to have DFTV on the show next week.
So we'd like to hear more from them firsthand about their plans.
We also had this Tony G co-investment holdings.
They became the first public company to build a hype corporate treasury.
They bought $10,000 hype for $400,000.
And then we got to talk about it.
Ethereum treasury firm Sharple and Gaming, SBET stock, plunged 70% last night amidst the release of details of their investors and their chosen lockup periods.
I think we'll get into more of the details for that as well.
Going into token airdrop and protocol news, RECT.
Big day for RECT.
We spent 30 minutes on RECT yesterday.
We don't need to spend as much time today.
But they announced that Jupiter took a position in the token.
They opened up a bridge to make Rekt tradable on Solana.
And then Jupe stakers are going to be eligible for this next limited edition
release of Rektrix.
So some big announcements there.
We had Hyperliquid launch access to gold trading via Tether's XAUTO token.
So you can buy spot gold on Hyperliquid.
Now via that, there's a new InfoFi launchpad, Shout.Fun.
They rolled out a new 12-week points program.
And then the NFT lender, NFTFi, introduced a new advanced NFT lending aggregator platform, Dashboard.
Enabling a new unified market view, refi from other protocols, and more.
Rounding this out, the AI board down about 10%, 9.1 billion.
That new virtuals launched, Iris.
Iris, it opened up at 100 million.
I saw it at 50 million this morning.
Memecoin leaders, not surprisingly, down anywhere from 6% to 20%.
SPX and Farcoin hit the hardest,
but they had rallied the hardest in the days leading up to yesterday.
In NFTs, a couple headlines. Pudgy penguins announced a new partnership with leftanza so wednesday it
was nascar yesterday it's leftanza so they're continuing to pump these out and then a skull
lucy new all-time high 360 000 in usdc terms over on gand ETH total. So new all-time high in both ETH and USDC
terms. Damn.
350 grand for
skull. That's a lot.
That's a lot of money.
It's 3x the punk floor.
But there's like... There's 50 of
them, right?
What are punks today? How's our ratio
doing this morning with the war?
Well, they're down 9% because he dropped nine percent so uh i think the floor held in
etherms it's still at 44. oh yeah i see okay so we're still we're still bidding bitcoin
yeah we still got that seven percent edge. Show him that one who's daddy.
Anyways, yeah, the REC news is cool.
I'm assuming that had to do with yesterday's pump,
the acquisition from the jupe site and everything.
So a lot of good stuff going there.
Now tradable in Solana.
So there you go.
So now you can buy and sell your REC for $1 profit on Solana.
So it's even better.
And then, Tyler, what were some of the big headlines you had the mastercard imex and coinbase and sharpening gaming yeah well let's
talk about coinbase so they held this data crypto summit in new york city and they they did not
disappoint so they unveiled a sweeping set of product launches and new partnerships. I think some of the highlights, they're going to offer 24-7 crypto perps under CFTC oversight in the U.S.
I think this is the first major U.S. exchange to bring levered perp trading to U.S. users.
That was a big one.
They're opening up crypto operating accounts for businesses.
They teased integrating the DEX on Coinbase that you could trade any of BASE's tokens natively on Coinbase.
They opened up these USDC payments with this partnership with Shopify.
So now merchants using Shopify payments will be able to accept USDC on BASE.
Shopify payments will be able to accept USDC on base.
And then this Coinbase OneCard in partnership with Amex,
new credit card offering up to 4% Bitcoin back.
Looked into the details a little bit.
It looks like to unlock the highest tiers of returns,
so to get 4% back, there are thresholds of how many assets,
of how many assets, how much assets you have to hold on Coinbase.
how much assets you have to hold on Coinbase.
So there are some incentives or rules to that, to unlock those tiers.
But that's still a pretty splashy return,
especially for folks who already do hold funds on Coinbase.
So some really big headlines, to be honest.
I've certainly been critical of Coinbase on this show,
but they are pushing forward.
Hard to argue.
Yeah, I mean, also good to know that Amex has now entered the ring
because they had it before, if I'm not mistaken.
Oh, yeah, Good point. Actually,
that hadn't dawned on me.
It's been on Visa, who was the biggest
and first in MasterCard recently with MoonPay.
But Amex
joining is pretty big, in my opinion.
I like the card. I signed up
for the wait list. I'm probably going to turn it on.
It's flashy. It's black.
Looks good.
I saw a tweet
i gotta find it for you guys it's really really out of pocket oh yeah
can i read it on the show even man you're gonna love that one dude it's friday we need some
lighter uh lighter content yeah so i was at a really nice loft party in Manhattan,
pulled out my Coinbase premium,
Amex card with 4% BTC back to cut up some lines.
The next thing you know,
next thing I know, I'm in a basement for four days
tied to a wheelchair getting my balls electrocuted.
Oh, man.
Too soon.
For every big news, there's always this one tweet that's so funny.
I thought that was so out of pocket.
But yeah, it's a great card.
I love it.
Is it only for USA?
I don't know the answer to that, so I'll have to look into the fine print.
4% of Bitcoin back?
I spent a lot of money on my Gnosis Pay card.
4% back is significant.
It's actually Bitcoin going higher.
There's an eternal T-wop on Bitcoin.
I think we're all tired of the last generation of points credit cards,
and the points all got in the way.
It's like, let's just get hard cash back.
Yeah.
Crypto.
DGEN confirmed points only. Oh,
before we go to the next news,
the code today,
the code, you go to
rafflebot.xyz,
the code is
DGEN's live
and Sims is
the tweet up.
It is!
Oh, you already posted 20 minutes ago.
So breaking news here.
So first of all, the post is
D-Genz Live, D-E-G-E-N-Z-L-I-V-E.
Breaking news before we get into the other news from Tyler
is that we will now be hosting
the show
on kick.
Under one big umbrella.
So FOMO hour,
Monday to Friday,
10 a.m. Eastern Standard Time.
Underexposed,
which is hosted by Tyler,
our very own Tyler,
Deez, Jeeves, and Peerjeeves
on Tuesdays at noon,
Eastern Standard Time.
And Wrecked Radio,
which is hosted by Mando,
our very own Mando,
OSF,
and Keyboard Monkey.
And I'm hearing that there might be some additions there, which is hosted by Mando, Mando, OSF, and Keyboard Monkey. And I'm hearing that there might be some additions there,
which is on Wednesdays at 12, right?
Wednesdays at 12, yeah.
Wednesdays at 12.
All of these shows will now be all hosted and powered by Myriad, Yeet, and Rekt.
So this is the three companies, three brands,
and a bunch of friends and cool
creators, you know, us three here, plus the rest of the crew that I just named getting together
on the one big umbrella that is DGENs. And that we're going to host our shows on kick
for the reason that, you know, we want to start tapping into a different audience. We believe
that we've not maxed out the audience on X, but as you know, the streaming is not great on here. We try, but it's not the best. And so we are going to be hosting on the one
umbrella brand. And since we have DGents, we figure we do it on there. And so it'll be the
same as usual, but everything, you know, pushed on the account, et cetera. So it's going to be a lot
of fun. We're all excited to do this with you guys. So it's going to be a lot of fun, but we're all excited
to do this with you guys. Make sure you share the news and from Monday, right? If I'm not mistaken,
from this coming Monday, we're still going to be running the Twitter spaces as is, because we
believe that we still do need to tap into spaces a bit, though it's a little bit annoying sometimes.
Uh, but, um, but you know, we believe that on video, um, it's better to have everything
live in one place.
So we're not going to be streaming on YouTube anymore.
We're not going to be streaming on Twitter anymore.
All the live action for all of the shows I named for Rec Video, Underexposed, and Foam
Hour are going to be on DJs.
And then we're going to repost the VODs on YouTube, on Twitter, et cetera, other platforms.
So we're, um, we're going to find a good way to grow outside of our little bubble.
I don't know if Tyler, Amanda, you want to say anything about it, but that's the TLDR.
No, you've hit it.
The return of DGENs.
I think they're using the same DGENs account, right?
Um, so I bet a bunch of you are already following it but yeah uh I think all the video content
on x is not the best um and we just felt like this was a good way to do it so and it's all
going to be in one place I think it's those shows but then who knows we could have a ton
different people I think you're going to kind of stream I reckon through that show as well so
it'll be a good one to follow that's what I'm excited about having the three shows all under
the same umbrella and then I think it's going to be easier for us to too to like think about how we
expand from there right and give yeah plus like you know i think kbm sometimes wants to threat
will do his own thing he's gonna go to dj's live like maybe tyler if sometimes you want to fuck
around and stream generally like if i want to pull up like we're gonna if dj's life is really
going to be like this like really cool like consortium of creators and friends and brands getting together under one umbrella everything's
produced by rug radio so just for the rug radio holders out there thinking yo what's going on
here with the rug radio nothing changes so we're producing the whole thing uh but we figured that
having one brand in one place one location and putting all our efforts and our big because we
all have fucked on followers right uh so efforts into one big because we all have fucked on followers, right? Uh, so efforts into one place.
So we're going to be on Instagram, Spotify, cake, YouTube, and X, all DGENs live.
And then on X though, the FOMO, Underexposed, and Rector will still exist as their own individual
brands and pages, but those are going to be one place so that you can get your alerts.
So you can turn on notifications for DGENs live on X if you want to be quick to getting the KICK links.
And as usual, Yeet is going to power all the giveaways.
So don't worry.
We're still going to get some money, you guys.
And actually, three of you guys are going to get some money today.
If you have the KICK app on your phone,
it will notify you when we go live every time.
So you will ever miss it.
There you go.
KICK, co-founded by an iranian brother by the
way bijan you know steak steak.com is there anybody an iranian guy you know so shout out
to persians out there you know anyways i had to shell uh my my persian people for a second
tyler back to you yeah let's get into a couple of these corporate treasury announcements.
Let's talk about this Sharpling thing.
I want to talk about this Sharpling because it's a big thing.
Also, we want to stop on the hour today and be on time, but we have to talk about this.
Mando, I might throw this to you if you know some of the details. I missed some of the specifics around the whole pipe aspect and exactly what happened.
My takeaway was that effectively they released this investors list
and the investors in Sharplink basically signed up to be able to sell their shares
at the one month mark. And this information became public. Crypto Twitter runs crazy and says,
these people are all just going to dump as soon as they can. And the SBET stock falls 70% after hours.
Is there more to it?
What was your read on how that all played out?
I think there was some confusion,
but it is clear that there was going to be,
there was some registration for a resale of equity as in like they were going
to sell equity,
but it could come from existing holders.
And that wasn't the best look,
I don't think it'd be like if micro strategy bought a bunch of Bitcoin and
then everyone who got into microStrategy before that was announced
then said, well, it's not everyone, but then MicroStrategy said,
hey, actually, we're going to resell the people who already own the stock here.
This is, I think these sort of structures, to be clear,
are very common in many of the recent Bitcoin treasury announcements,
particularly the ones which are like this dead company buying crypto.
Generally, how they get funded is to be clear.
These companies don't just have like
50 million of cash in a balance sheet.
They get funded by these people
who come in and say,
hey, we'll fund it.
Do you make a public announcement?
You're going to do this.
And then in a month's time,
I'm free to sell my shares.
That's how you can get in on some of these sort of things before they get announced.
That's basically what's been happening.
So this is actually very common of what's going on right now.
So we may see this from a broad range of the companies announcing altcoin or Bitcoin strategies.
altcoin or bitcoin strategies but it's obviously not a great look that this one in particular was
tied to the one of the co-founders of eith and i think it probably left a bad taste in the mouth
of like why would you look to resell this if if the idea is to be the micro strategy of of of eith
or something along those lines the real, we just need to sell new equity
and buy more ETH,
not we're going to do some form of a resale.
So I think that's what caused the bad reaction.
I think it's probably overblown.
But yeah, it's like a little bit of a fumble,
I have to say.
It does.
Thinking about this from a trade perspective, so now...
Can you guys explain this for the people who don't really understand how this stuff works?
But yeah, go for it, Tyler.
The market cap is now $659 million.
This morning, we know they cleared their $425 million ETH buy.
I don't know if we know the app price.
But they now hold $425 million in ETH.
They're trading at a 40% premium, maybe 50%. At some point, it becomes interesting, especially if you think they're going to,
if they're going to go down a micro-strategy path and look to build out their treasury a lot more um though i do agree
with mando's sentiment that why are they doing things this way perhaps if there's if they do
have these longer term plans and the other caveat is just because the investors did sign up for the
one month doesn't necessarily mean they're all going to sell perhaps it was for flex build
i don't know i am curious if lubin or others are going to come out and make some kind of an announcement to clear some of this out i do think he did
he said that we're not we're not playing on selling we said that no no one at the ethereum
foundation joe doesn't sell by the way like joe lubin just for the people like because i know
sometimes people think like oh ethereum foundation is these founders are dumping you don't know
whatever joe lubin does not sell shit.
Just FYI.
I'm just going to put it out there because I really really like this person and I know that for a fact.
But go ahead.
When you hear about these sort of deals going around
and people making money off this, this is the exact deal
that they've been offered, to be clear.
Hey, give us some money
for a share sale
where we're going to buy some crypto for this dead company
and you'll get to there's a lock up, but you'll get to for a share sale where we're going to buy some crypto for this dead company.
And there's a lockup,
but you'll get to sell your shares at X point in the future. That is a common strategy of a lot of these deals.
So I think it's worth noting
that this isn't the last time we'll hear about it.
And it's definitely not uncommon
for what we've just seen from some of these strategies.
But I do think that
um it's just because it it was pitched as this micro strategy rather than a we're going to make
a quick buck i think um it basically backfired on on mainly on joe i think more than anything
right um maybe there was some short sight in this in in what other like the investors they got in how the
actual raise was done all this sort of stuff because although he might not sell like if
they've raised 400 million from a bunch of people who were told that you can sell it after a month
Yeah, I mean the markets not rebounding right so it's not like it's totally overblown fudge
It's still down. So is this a buy here?
Like I don't buy stocks for people who do like this thing went to $140
Everybody's like I wish I bought my 40 50 70. I wish I bought you're getting this thing $10 now
is this if this is a micro strategy of ethereum land by consensus chairman of the board Joe Newman
is this a buy here into should we ask Chad GPT I don't know where the last um
the last share sale was done like I I think someone said it was much, much lower
than this, less than $1.
Maybe
even less than $0.10.
Everyone's still up so much.
It's difficult
to know. That's the thing to
know. How much is everyone else up on this trade?
Yeah. to know like that that's the thing to know like how much is everyone else up on this trade yeah do you know all right let's let's talk to chat gpt because um chat gpt tends to know better than really good we posted about it yesterday yeah it was like one penny but but
then we came back and jule bin's post tweet and said what a great way to answer to these people
higher so i think we just But but then we came back and on Joel Benz post tweet and said what a great way to answer to these people higher
So I think we just
Watch out GPT hold on is it a buy?
Is it I don't don't give me
Technicals I want to know if it is a buy like we did with
Circle if it is a bite yes or no
Damn Well
That GPT says no
The robot has spoken
Let's see what happens
I'm just asking questions to the AI
When we did it for Circle
It said bye in bold
And we saw what happened
So now it says that
We'll see
We gotta use ChatGPT Anyways we saw what happened so now it says that we'll see you know uh yeah we got to use change view
as anyways so yeah good question tyler like what happens to the rest of these companies and stuff
uh we'll see it seems like this was just a normal thing like in the filings like jordan was saying
this is something you have to do when you're trading dealing with securities i just think
we're seeing this wave of like oh crypto people are going to start buying stocks now. And there's the sector of these corporate treasury companies
that are publicly traded,
and a lot of them have gone parabolic.
But I think it's just a good wake-up call
that this can happen,
especially if they're trading at massive premiums
to their holdings.
Yeah.
That's what I'd want to know.
That's the exact thing I'd want to work out.
What premium is it trading to its holding,
and what level was the last share sale done?
That's how you can work out
if it's a bar.
I just haven't had the time to look at the stock.
The annoying thing is, honestly,
it's just that this was the first one,
and you really can set a marker
by doing it right. So I just think that this is a first one and you really can set a marker by doing it right so i just think
that this is a shot in the foot like i you want to create momentum you know you want to be like
okay well then somebody else is going to do these trading somebody else is going to do one and like
this is a really good move now i don't know like because of the price action it kind of feels as
though that may have may have made that a little bit less likely now.
I agree.
Yeah.
All right.
Maybe they can fix it.
But, Mando, we've got to throw another corporate treasury
onto your evaluation sheet, and that's DFTV.
So we've got to quickly talk about this,
and this is a blockbuster mine, and perhaps a marketing stunt,
and we'll be able to hear from the team next week.
So they entered an agreement.
This is DeFi Development Court, DFDB,
for a $5 billion equity line of credit.
They're going to use proceeds from the issuance and sale of their common shares here to buy sole.
I don't have the exact numbers. I think somewhere between $500 million and $1 billion
is what they've signed up to buy in Seoul over time.
Now they've got new access to capital, potentially to go up to $5 billion.
They acknowledge that this is to give them flexibility.
They're not going to do one clip into Seoul here.
They're saying they're going to do it gradually and when it aligns with their goals.
I think they're going to be deliberate and smart about it.
They also have been coining this tagline, which I liked.
I'll just read this direct quote.
What we can say is that our goal is not to raise for the sake of it.
It's to raise only when it compounds long-term soul per share.
So this soul per share is their North Star.
All right.
So since establishing their treasury,
they've already amassed $100 million worth of sold so far.
So they've already built up $100 million, quite a bit.
The company is trading at $26 right now, their stock.
That's $387 million market cap.
So they're trading at about 4X current holdings.
But now we know they have access to capital
to get up to potentially up to
5 billion.
And I think you got to put an asterisk on it for right now,
right?
Like is a,
is a company that's valued at 400 million,
truly going to be able to get access to get 5 billion in the near term
future.
I mean,
that does feel like a stretch.
Who is giving them this line?
That's what I didn't really understand.
Do we know?
RK Capital.
RK Capital.
RK Capital is giving them a $5 billion.
And RK is a DFDB partner and a pipe investor.
Okay.
I have no idea who that is.
RK Capital has $5 billion? $5 billion? okay I have no idea who that is arcade capital has 5 billion 5 billion dollars
like who are these people
small loan of 5 billion dollars
I mean it's not absolutely insane
but like it does feel like
someone that you may
would have heard of before
what's insane is the amount 5 billion someone that we may would have heard of before.
What's insane is the amount?
I mean, $5 billion?
If you look at FTV terms,
is the equivalent of Saylor raising $100 billion for Bitcoin?
Wow.
Yeah.
Yeah, that's what I mean.
It's very big versus their current market cap. But I guess an equity credit line,
I think it's just a line where you can draw equity at certain moments.
So maybe they just feel as though they won't necessarily just automatically do it,
but it's more like we'll be dip buyers, basically.
Yeah, it's a pretty big bet on sold by the investor as well.
That's basically what i'm saying like this
company could just go out there and buy solana uh but it's decided to do this which is no doubt
going to be a more liquid way of putting five billion of solana in the market maybe some hope
for sbet holders out there i'm looking at the chart chart of DFDB. It had previously peaked around 36, fell all the way to 14.
So that's a 60% drawdown and spiked all the way back to 32 yesterday.
Now it's a 26.
So they've been able to, they had the big run up, big drawdown,
and now I've been able to recover from that with a future announcement.
So perhaps the SBET crew will be able to recover from that with a future announcement so perhaps the SBET
crew will be able to pull that off as well
SBET's best thing to do
right now is to announce exactly what they just
did some form of
we're going to buy more ETH
they're going to do it for sure
they're not stupid
yeah
maybe they need
you see how the difference in those two people that were raised from it feels
as though aspect probably raised from some of people who said hey you're gonna make money in
a month and these guys defy development board have raised from what looks to be like a mid-tier
bc firm who said here's a here's a here's a line of credit basically here's a line of credit, basically. Here's a line of equity credit. I don't know what that necessarily means.
But, yeah, it feels like they have a – it's a different sort of buyer there.
Much better.
Solana buyer is much better.
Well, they're coming on next week, right, on the show?
Trying to get them lined up.
Yep.
Let's go.
I need to talk to them.
Are they interested in fart coin
we'll be talking about that oh yeah we're gonna be talking about fart because out of five billion
dollars they could put like a hundred million fart coin and they'll make a lot of fucking money
so we're gonna be talking about that anyways let's go to the winners because i know we want
a hard stop in eight minutes simathy chalamet run it back, baby. Three winners. Far Coin Friday, Coin Race.
Just a reminder, if you won the last 30 days, we're going to keep rolling.
Let's do it up.
Good vibes.
Good vibes.
Let's check if you want.
We are approved.
Approved.
Only good vibes, baby.
Where are you?
Only good vibes.
Keep your eyes on the same.
Oh Oh All right, let's go I'm ready, you can remove your screen
How will we start?
You can remove your screen
Kaolin San is here
What was the last one?
Bacon egg for cheese
Bacon egg, and they're all here
Fucking amazing, fucking incredible
Today is incredible
All right, Kaolin San, bacon egg for cheese Good vibes, what's up y'all, what's up, what's up, what's up Bacon and they're all here. Fucking amazing. Fucking incredible. Today is incredible.
All right.
Cowlin, Sam, bacon and fruit cheese.
Good vibes.
What's up, y'all?
What's up?
What's up?
What's up?
What's up?
How's it going, guys? Good morning.
Good morning.
All right.
So we're going to be very simple.
It's Farcourt Friday.
Three races.
One at a time.
So we're going to do exactly what we did last time.
So every single one of the congratulations congratulations you've made $500 already each
So Calvin signed 500 bucks bacon eggs for cheese. I was a mouse good vibes only fire on a book
So we've already given out a five fifteen hundred dollars on the show already now
Every one of you have to put $250 on part coin. That's for sure. For sure. You don't have a choice
Good vibes only you You won first.
Pick a coin between Ethereum, Bitcoin, Dogecoin, and Sol,
knowing that the odds, you know, get tougher.
So Bitcoin's, you know, 2 to 1 about, 3 to 1 Ethereum,
5 to 1 on Sol, and about 10 to 1 on Doge.
Let's do Ethereum.
Okay, Okay.
Kaolin, you can pick Bitcoin, Solana, or Doge.
GM, GM, Bitcoin.
Bitcoin.
Okay.
And then bacon, egg, fruit, cheese.
Well, you have Solana or Doge.
Happy Friday, Doge.
Doge.
Okay.
Yo, this guy's got Farcoin and Doge. All right. So I'm going to the first race, right? Same so it's gonna be Ethereum and Farcoin and then second race is gonna be Bitcoin and Farcoin and then third race gonna be Doge and Farcoin
All right. All right
Let me get back to my screen
Full screen you get can you guys see the screen? I think I was a corn race thing
Yeah, okay I'm gonna wait for corn race thing. Yeah, okay.
I'm going to wait for this race because it was too tight.
So we're going to wait.
I got to fix this sound thing at some point.
Because I can hear it. Who's going to win this one there?
Yeah, we'll see.
I mean, we don't have any...
If Farquhar doesn't win.
If Farquhar wins this one, I'm like, I'm fighting eat. Oh
Wow, all right. So now it's time for good vibes only it's a theorem in far coin. Let's put some fucking
All right, so 250 on each all right race number one, baby
I think fuck was gonna hit we have three races three far is to hit that person who's got doors in Farquhar
That's crazy, but I'm not pursuing me ball. All right, let's go. I'm gonna play the music for myself. I guess let's go
He's got shut
Damn
Damn
Come on good vibes. Oh, you're looking good.
You're looking good.
You're looking good.
Farcoin.
Farcoin.
Oh, no.
Oh, my goodness.
That's a lot of hits.
Well, congrats.
You still make $500.
So the second person.
Oh, 97X.
Yow.
Guys, did you see that?
Farcoin?
Brother, Farcoin was about to win.
Very close. I blew on it.
Yeah, yeah, yeah. Mando wins again.
Oh, that would be $24,000.
Come on. Get it.
Come on.
Bro, that was nasty, Mando. I've never seen it
get shot so close.
That was nasty, bro. For sure, KBM's in the back. Like, Man, I've never seen it get shot so close
For sure KBS in the back like
We are getting rug man
All right.
I feel like we should get them all on the same race.
The only problem is the far coin limit.
So if you can, but yeah, you're right.
Next time we'll do everyone in the same race.
All right.
Last race, bacon, egg for cheese.
That guy's got the two highest risk on.
Even though it would be $3,200 hit, bro.
Oh, Doge and Fireball.
Never mind.
All right.
God, Zach.
East out.
Oh, Fireball's out.
Oh, it's over.
Mando wins again.
Oh, brother.
Times are tough.
Fucking Mando, man.
All right, guys.
Well, listen.
Congratulations, Bacon Egg for Cheese Cowan. Good advice. fucking man though man alright guys well listen congratulations bacon egg for cheese Calvin good vibes I'm sorry
you can't even win more but you still win
$500 each
we appreciate you guys for being
listeners definitely keep on trying
just a reminder
kick.com forward slash
djens live d-e-g-e-n-z
l-i-v-e followV-E Follow us on X.
Follow us on KICK. Our show is going to be
moving there on Monday. With that,
I hope you all have a great weekend.
Maybe a good weekend to stay out of the
charts and social media.
We'll see you on Monday morning.
What do you think? Hi or hello on Monday?
On what coins though?
Let's just say Bitcoin solely.
Just the big three.
Higher.
I'll go higher too.
I think higher, man.
Higher for set up to all-time high.
I mean, Tyler, you're not getting...
I think Bitcoin's going to go to all-time highs here, by the way.
Yeah, I agree.
I think this is very bullish for Bitcoin.
I agree.
Let's see if the market agrees by the end of the weekend. But that's why I asked on what because it's bullish for Bitcoin. So let's see if the market agrees by the end of the weekend.
But that's why I asked on what, because it's bullish for Bitcoin.
Yeah.
Yeah, but that means if Bitcoin goes to all-time highs,
I do think everything's not going to come from that.
Well, consensus on the show is higher.
You'd love to see that.
See you on Monday morning.
Teddy and Mr. Santa for the episode of Fulal Hour on Rock Radio.
Let's go. I'm Thank you. you
