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FOMO HOUR: FOMC AFTERMATH, DIGITAL ASSET REPORT, NEWS.
Recorded: July 31, 2025 Duration: 0:48:40Space Recording
Short Summary
JPMorgan's strategic partnership with Coinbase and exploration of crypto-backed loans signal a major shift in traditional finance's approach to cryptocurrencies. Meanwhile, the NFT market is thriving with new launches and record trading volumes, highlighting a vibrant ecosystem.
Full Transcription
Thank you. Yo, yo, yo, yo, yo, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up, what up for today because I fucked up my whole setup. I'll have to reset it later. Oh, there you go. There you go.
Let's see if that works. That should
be good for today.
We'll live. We'll live. What's up, yo?
What's up? What's up?
What's up, John? What's up, Gianpaolo?
What's up, Crypto Queen? What up, Slim?
What up, BigDubCJ? Alright!
Not Sims today, I guess. Charlie.
Kick it, baby. Thank you. Yo, yo, yo, yo, yo, what up?
What up?
Good morning.
Good morning. Yo, yo, yo, yo, yo, what up, what up, good morning, good morning, GM, GM, Tuesday, Wednesday, Thursday, oh wow, last day of July, July 31st, 2025, look at that, another beautiful date, I have a beautiful date, I got my co-host in the house, Tyler Mando, good morning, Mando, whoa! Mando's back!
Wow! Theorem did not hit 4k yet.
Every time he goes close, gets smacked back down.
They don't want him to retire. Good morning, how are you doing today?
I'm doing great.
I am finally back after a month of travel.
And a week of taking some downtime.
Let me put it that way.
I still was lucky at stuff.
I just wasn't really doing calls,
but,
it feels fantastic to be back.
It feels fantastic to be back.
I miss CT so much.
Yes.
You miss CT so much,
right?
So much.
It's a CT has been interesting while we were gone.
A lot of ups and downs. It feels a lot,
a lot of ups and downs. My feels. A lot of ups and downs.
My ETH is basically
where I left it. How's everyone
else's bag doing? When I
said we should sell Farpoint,
can you just leave
again?
The audience will remember
the exact words I said.
And we all laughed.
We all laughed.
Luckily, Rack just climbing your portfolio out of trouble.
Honestly, I'm going to crash out.
And the day I crash out is when Farcorn is going to $10.
I know it.
I know it.
I'm going to $10. I know it. I know it. I'm going to crash out.
Whoever keeps stopping the shit back to $1,
I don't know.
You forgot the mission.
If only Farcoin holders
would take notes from REC holders.
Study the middle American living in Idaho
or Idaho or however you say it.
Study
Idaho.
Idaho. Idaho. Idaho, Idaho,
Idaho,
Idaho,
Idaho,
Idaho,
Idaho,
Tyler,
you're the fucking guy.
What are you saying?
You were making up some new word.
Like this is a term for a cohort of people or something.
Idaho.
Wow.
Idaho.
Yeah.
Idaho or the,
your people like Indianapolis,
like study the,
study the,
study these,
the,
those,
those holders.
You know what I mean?
Um, they know they're going to buy boats, they're already making plans and maps for
the new, their second country houses, but they're not selling yet.
You know what I mean?
They're buying more drinks.
Shit sold out yesterday, three minutes.
And Farquhar holders can't even, you know, can't even hold the greatest meme.
The purest and most egalitarian tokens is Bitcoin for, uh, to above 160 but anyways it's a great mix it's a great mix of a lot of money
and a lack of dreams in the midwest that i that i think the wreck guy just keeps on hitting new
all-time highs yeah yeah because they're simple people like Like Bernie... It's a perfect recipe for all-time highs, if I'm honest.
The only thing Bernie wants is, like, the extension on his house and, like, maybe a truck.
And that truck costs him, like, seven grand.
You know what I mean?
These are landlocked states, you know?
There's not a lot going on.
Like, red guy's just built different.
And even the guy who's, like, buying the most, he's, like, this, like, turbo- rich dude already like he doesn't care you know what i mean so they have both like they have these
like hardcore rich like fucking billionaires don't care who believe in over like crazy and have these
like middle american lads that just they aspire to buy the next fucking bronco on cars and bits
there's just a lot of money in middle America. Seven-figure hell and
RecGuy is just
appealing to a generation
of seven-figure hell.
Oh my God.
I just quickly got to jump in and remind everyone that I live
in Chicagoland. Chicago's GDP is
3x that in Portugal.
It's just a little baseline.
You're from Indianapolis.
That's exactly what I'm talking about, Tyler. That's exactly what I'm talking about, Tyler.
That is exactly what I'm talking about.
Exactly.
There's the people like Tyler who have like three offices in their homes.
They don't need to sell.
You know, we saw all of Tyler's offices.
Like when his internet was down, he like moved offices every three days.
Of course.
And then you have the Booners, like Boonie.
Boonie Night Night.
You know, our fellow, our beloved Bernie.
Anyways, let's talk markets.
It's been a while with Mando.
I'm sure you've had time to catch up.
I know you've been low-key active behind the scenes.
I haven't been active.
You know what's going on.
So let's talk markets with you.
I mean, we had the biggest FOMC in history yesterday also take place.
We had Wizard of Soho come on.
Actually, it was a great segment.
It was awesome to have him on.
Shout out to Wizard. That was actually the perfectho come on. Actually, it was a great segment. It was awesome to have him on. Shout out to Wizard.
That was actually the perfect guest for yesterday.
Tyler's Top 100. Let's see what he's got
for us. There's a few news.
Come out. Yeet. Oh, you missed
some crazy, crazy action,
man. We had some crazy lamb chop
the last two days. A lot of fun,
mate. This guy ran the tracks on Medium.
Cashed out three grand. It was sick.
Yeah, it was fun. Yesterday, a 19- 19 year old who was working a cafeteria while watching us
We made him a thousand dollars and it meant a lot to him. So it was fun a lot of fun
So you thought you thought comic and the can using form or follow us on kick
DGN is live and all the information is up there the code today is is it is it each 10 again like yesterday? Sure
Each 10 it is.
It's the code again today.
Now you have it.
And then last but not least, this show is powered by, powered by, powered by, where's my notes app?
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Man, let's go to you.
Who is the man? Macro daddy of the man. our trade-offs, Mandel, is called Yield. GM, everyone.
So yeah, it was a bit...
I mean, I missed a lot,
so I don't really know what we've spoken about yesterday
or where we're at,
but I would say a mixed bag of an FOMC.
It still feels like, broadly, Powell is resisting any sort of political pressure
and on the back of what was said yesterday,
obviously rates were most likely going to stay the same,
but his indication is there's a little bit of a split within the Fed right now
about what should be the future path.
There's not really a consensus to drop rates.
So what we saw on the back of that is actually September rate odds went down.
We're about 50-50 now on the chance of rates going down.
And at the same time, the dollar's actually hitting multi-month highs.
So the dollar's already been snapping back.
And that's probably been part of the reason why crypto has been slightly sluggish, at least on Bitcoin.
Because the value of the dollar has been coming back a little bit.
Rates obviously gone up a little bit on the back of that too.
So this hasn't really affected other risk markets.
So what you've seen is stocks are continuing to trade very well.
What you've seen is stocks are continuing to trade very well.
You've had some very strong Magnificent Seven earnings come out yesterday and today.
Sorry, yesterday and the day before.
Meta and Microsoft in particular announced stronger earnings over the last 24 hours.
I think Microsoft has hit $4 trillion market cap.
And you have NVIDIA hitting four and a half.
So these companies are worth more than all of crypto combined at the moment still.
So it's kind of wild to see.
Gold has been a little bit sluggish on the back of this.
And we did see some more trade sort of headlines.
Doesn't feel like we're maybe as close
to some deals as we thought.
Copper took a bit of a beating based on
looks like they're going to be including some of the tariffs.
Just feels
like that's kind of trundling along some of those
headlines really more than anything.
In terms of crypto,
it still
feels like majors are outperforming
here versus alts.
Big time.
Bitcoin dominance is kind of stuck in that sort of range, 61% to 62%.
It hasn't really moved from there much.
ETH dominance has also stayed pretty strong, though, at 12%.
So the only stuff kind of moving lower
on this move has really been
altcoins, in particular
memecoins I would say
have kind of retraced a lot of
their recent moves.
yeah,
ETH and Bitcoin
dominance
together as a pair feels like still the trade here,
if I'm honest.
And I called it.
It's interesting to look at like the others,
the others chart,
if we bring that up,
that was looking really good.
Kind of maybe just before I, chart if we bring that up. That was looking really good, kind of.
Maybe
just before I took some time off.
Let's see the other chart.
We were about
billion in terms of market
cap there.
Others, yeah, and we've gone down to
283, so
284 it looks like. so that was one that was looking
like oh my god this is like hitting multi-month highs there and then has kind of retrenched so
you can kind of and that it doesn't look like the best looking chart that one um looks looks like it
could i don't know this kind of looks like look here though Maybe short time
Tried to break out again here a little high and then now looks like it's maybe heading for a lower load there
But but that may be part of still a medium term
Yeah, it's not I'm not willing to call death on all point season, but
You compare that to the each job, which is still kind of hanging out at like
3,800 right? Very close to kind of the 4, chart, which is still kind of hanging out at like 3,800, right?
Very close to kind of the 4,000 level, which it peaked at a few days ago.
Feels like it's held up very well.
So basically, that just shows me the data, what I just said,
that this has really been a retrenchment more in the longer tail of coins.
And that's where I think a lot of CT has their bags in.
So it's not been maybe the prettiest across the board.
Other coins I'm looking at and I'm interested at the moment.
Hyperliquid I'm looking at.
I think interesting to see everyone called Death on it the other day.
Yeah, classic. That was funny.
I kind of like it here at 43
area again feels like it could have a little bit of a leg up in this sort of move obviously rex has
kept on hitting an all-time high or close to an all-time high at least um in terms of daily close
so yeah it's it's a decent decent spot there Most of the Solana meme coins have kind of given back some of their gains.
So like Pengu, Farcoin, Bonk, all a little bit soggy.
Pengu's probably the strongest out of those.
Yeah, it is.
But it feels as though that war of Pump Fun versus Bonk has kind of wrestled back a little bit.
And Pump Fun's won back a little bit and pump funds went back a
little bit of market share over the last two days and pump had a big day oh it's gone back up to like
three billion so uh it's a decent you know that that's one again i'm looking at i'm not yeah i'm
not too sure about i don't know about it long term but like um in terms of like that's what i want to own but it's it's looking okay i've honestly been a little bit surprised at solana's weakness i
kind of felt like it underperforms for a little bit too long i kind of felt like it would hold
hold up with like bitcoin in this move and it hasn't really um i've gone back to that 175-ish area, which isn't great.
And Sui kind of gave back a lot of its gains as well.
So even all L1s, basically, the ones that have done all right,
are kind of giving back a decent amount of their gains,
which I kind of felt like it would be majors
and maybe keep Sui, XRP, Solana would all stay strong.
But it hasn't really been there um so oh god
okay canceled oh god the overlord yeah whatever that was um and then i'm really surprised that
the solana like weakness like genuinely because they went to $200 the other day
After we called it on the show before you left. We all talked about this like oh, it's non consensus
It's gonna run it rents 200 and Jenny surprised how weak it's been after since that
Not sure what's causing it, but is it
Yeah, so yeah, it's true it doesn't have any of the Ethereum and Bitcoin bid, you know?
My sneaking suspicion is that Solana is like the ETH of last year
in that when it runs, it's a bit of a top signal.
So if you notice it happened on the 23rd, which was when it like ran and then
that, that was kind of like the mini top for what we saw in like most things.
Um, I think he hit like a top after it, but, but most old coins hit their high
on that day.
So like when it runs, it kind of feels like the day where you need to like pay attention and be like okay maybe this is the day
i mean that's how i'm viewing it i don't know if that's you guys don't want to uh you think it's
too overly bearish but i think it's one of the last things to run basically it feels like it
like other things running everyone gets frustrated it's like salon is going to move and then when it moves it's like okay that is kind of it what's left to run
so i'm definitely paying attention to when it runs as a moment for like okay this might be a
time to like not de-risk but just pay attention to like we could have a bit of a wick down here
um market looks fine to me though like bitcoin holding 118k and just going sideways
since the start of this month yeah i've been just broken through all-time high i reckon it could it
could go down to like 115 114 maybe even like 112 like which would be kind of close to like where
its previous all-time high was and then I think it's going to keep sending.
That's my gut.
Like this is too many buys.
All right.
Too many buys.
Well,
we keep sending that.
There's a lot of buys and we've been covering the, the ETH reserves a lot as well.
So it looks like there's a,
it's just not the bid on those two is just nonstop.
Michael Saylor also,
I mean,
I would pay attention tonight.
He said something regarding
most important strategy earnings call most important strategy earning call ever today
of all quick looking back at july are we are we officially labeling it as a jubilant july like
let's look at the 30-day numbers bitcoin's up 10 we've got to a new all-time high. ETH is up 55% in July.
Even Seoul is up 18%.
It's a pretty damn good month, right?
But that's, yeah.
We're cooling off a bit.
I mean, Seoul probably hit the hardest of those.
And are we buying Abundant August?
Abundant August.
Is that what we just said?
He said a bit.
I think that's the general consensus leader right now
for our August acronym here.
Okay.
I like it. I like it.
I like it.
All the other stuff I've seen is this kind of treasury
companies continuing to
fall over themselves to
buy an
increasingly long list of altcoins.
I haven't actually
been following the ones that are doing the more
like BNB,
SUI,
if they've had a positive impact on their price on their stock price i think it's been notable that um
sharpling has gone down right it's back down to like 20 because they they see a lot more stock
remember we said that they were trading like a very high premium uh again and now
they're back to like 20 which is kind of like a more reasonable premium i would say and i'd be
very much aware of that i think people need to like stop just thinking that this is like
these things can trade like 4x their backs like they will just issue more stocks that happens
so um i what i'd be doing constantly is paying attention to what the average premium is across ETH Treasury plays and other altcoin plays and then work out where your bag lies.
When we really liked it, it was trading at 20, 30% premium, was it?
1.2, 1.3, yeah.
And now where is it at?
It's getting back down there i think what's been hard about this trade
and i didn't quite realize this until i've been getting into the weeds there's no way to track
i don't think there's a way for the public to track how many shares have been issued
on a day-to-day basis like every tuesday sharp like is issuing a report providing those numbers
but like on a fr, it's difficult to know
if they've just sold 50 million shares
in the past two days or if they've sold zero,
which makes the math a little trickier
on a day-to-day basis.
Maybe there is, and I'm just not aware of it
as more of a retail.
Yeah.
I'm surprised they don't have to file that same day,
but maybe they don't.
When's Harold's brother selling all his?
The BM&R?
Didn't they have their thing where people could sell?
It's BM&R.
Okay, okay.
It was Bitminer.
We have a friend who's brother went super
fat into BMNR, but it was a
45-day
locking period.
Wow, that one's really gone down a lot.
I was not paying as much attention to
BMNR. Wow.
Because it was a 45-day thing,
you know? Yeah, their pipe unlocked a few days
ago. Yeah, that's what...
They just destroyed this thing
But is that what happened to the SBET chart right away?
And then
Right at the beginning
So SBET hit 80 and then it went all the way back to 9
Alright, I think
It's just
I don't know, they're the biggest holders of ETH right now
Man, though
Who are? Bitminer
Bitminer, I one? Bitminer.
Yeah. I don't know.
See, it's kind of funny.
This happened to Esbet, too.
I'm just curious if it's a...
Like, Esbet had the same thing, right?
And I remember when everyone was...
Here.
I don't know.
We'll see.
I'm really curious if retail is losing their appetite for this trade.
Because, like, we've had the periods of euphoria.
But now, like, anyone who's bought these recently is down. losing their appetite for this trade because we've had the periods of euphoria, but now
anyone who's bought these
recently is down.
A lot of them are probably
down kind of bad.
Any late buyers are down pretty bad.
And ETH is flat.
ETH is flat, yeah.
So I am a bit curious how
this is going to continue.
I still think there's a lot of faith in Tom Lee and Joe Lubin,
so I'm not too worried about those two.
But I think for some of the downstream treasury co's,
I've kind of stopped paying attention.
There was a week where I was trying to trade all of them
on the news announcements,
and then a lot of them, they didn't even really move.
There's really not even been that good of a trade.
You kind of have to have it in advance.
This is great.
Who made this?
This is the Strategic Heath Reserve's website.
Yeah, dude.
I forgot exactly who's going on.
Come on, man.
You went on vacation?
I forgot all the...
I don't know this website.
The data does lag, so it's not in real time.
I mean, it's pretty good.
It's pretty good, yeah.
East looking good here, guys.
You're aware.
East to 4K by the end of the summer.
We were on the show with Jason from Oros two days ago.
Oh, okay.
We've had to bring in some reinforcements on the market side
so Tyler and I stopped just pumping our bags, right?
For an hour a day.
Just give me our SPX targets.
You have no idea, dude.
Mando, Tyler bought a...
Must be so depressed.
Like, the market is over.
Tyler bought an old monkey.
Maybe I bought an ordinal, yeah.
We had an ordinal segment.
Yeah. Mando calling for a 200 increase in ETH I called for a 60% increase in ETH my friend
I do think it's going to go to 5k though
No you got to believe in some thing
Speaking of ETH
Yesterday Joe Lubin rang the Nasdaq bell
I didn't know if you guys saw that
I did I did I saw Lox Yesterday, Joe Lubin rang the Nasdaq bell. I don't know if you guys saw that.
I did, I did.
I saw Loxley there.
Loxley was there.
Where is his ass?
He's on this photo.
Loxley, a titan of ether?
I didn't know this. He's right there.
Look at his ass.
Why is he hiding in the back with Benny?
Oh, my God.
He's right there.
Benny.
Is that the famous guy?
Sam Spratt.
That's the famous guy. Which one? Right next to him. That's Hoffman. Right next to him. Oh, God. To the left. Benny, Sam Spratt.
Which one?
That's Hoffman.
Right next to him.
Oh, God.
To the left.
That's Hoffman. Yeah, but dude, do you realize Hoffman literally is responsible for 25% of it?
He should be there at the front.
Hoffman should be there at the front.
Hoffman should have been ringing the bell.
That's 25% of the market gap of Ethereum right there.
By the way, did Joel Rubin say thank you to Hoffman?
You got to get a squeeze meme going with David Hoffman.
Is Tabs in that picture?
I know Tabs was there.
Let me tell you guys if Tabs is in the picture.
I don't see him.
I see a lot of familiar faces and friends, though.
Mike Kriak is in there.
Obviously, he's probably somewhere in the middle.
Obviously, Joe's here.
It's pretty cool.
I was meant to go,
but honestly, flying from there and back couldn't be
bothered. There's Mike.
There's Mike. There's the bank. Oh, there's Tabs.
There's Tabs. Oh, yeah, right there.
This is Tabs.
Tabs is right there.
Tabs is somewhere in that photo, but
I won't dox him. Yeah, let's not dox him.
He's in there, though. He's in there.
And then let's see the other photos.
It's not bad.
There you go.
I saw Lox's photo also up there.
It was pretty funny to watch, actually.
This guy's just, like, chilling on the...
He's very cool.
Yeah.
He didn't post it?
Dude, you fucking suck at social media, Lox.
We got to get you.
Oh, he did post it.
I'm sorry.
No, he didn't post it.
He retweeted Benny.
Got to get Lox in there, bro. So there he did post. I'm sorry. No, he did post. He retweeted Benny. Got to get logs in there, bro.
So there's logs.
I love how Benny's face was just squared out.
Squared out of the window here.
Sam Sprite is like perfectly placed.
He's like right there.
Matt Hall, co-founder of CryptoPunks.
My homie Jay-Z.
There you go.
So love to see that.
We're cooking. Speaking of cooking, we launched our linear marketsZ. There you go. So love to see that. We're cooking.
Speaking of cooking, we launched our Linnea markets today.
Yeah, nice.
Myriad.markets live now on Linnea officially because it was first a beta.
Part of a protocol, so we launched Abstract.
Of course, still on there.
Strongly, trust me.
And now we have the markets on Linnea.
So if you go to myriad.markets forward slash Linnea, you have...
Oh, wow.
We opened a lot of markets.
Damn. Okay. Let's go through some of these
real quick. Dude, there's a lot.
Rect 550. Okay.
Rect 550 by August
8th?
Wow. That's...
Okay, so what kind of move is that?
Is that a 20% move?
I think so, right? I mean, it goes up
20% per day. So, yeah, I like the S side.
I've got to connect to my account and play some predict.
I made some good cheese the other day on Rekt Markets
because nobody took it to over 450 by the end of week or something.
And I took it, and I bet it.
I got 40%.
So that was cool.
You can now predict directly in USDC, by the way.
I'm going to the wrong account.
Three minutes?
Three minutes?
That was wild.
For what?
For the Binance sellout.
Dude, that was crazy.
And then, I don't know if you guys saw,
Binance decided to come up with their own liquor drink.
Lemonade.
That was just like comedy.
But I love that sellout.
That was good.
They have some good stuff.
Best bet, Pong's, Vitalik stuff.
There's a bunch of cool markets.
So go on there and you can predict directly.
Just on Metamask.
You see some Metamask on Linea and you're done.
And then Binance US,
yeah, I mean, three minutes.
Where is, there you go.
Sold out in three minutes.
That was wild, boys.
Is that a record?
Oh, yeah.
I thought I had more time.
I was tweeting about that.
Yeah, that's wild.
Tyler was tweeting and then it was gone.
But this morning, what did we run to this morning then it was gone.
But this morning, what did we run to this morning?
Basically back to all-time high when I woke up.
When the Euros
were still running wild before
the US folks woke up.
It was back right around all-time highs.
But we're
painting the cup and handle
at this new all-time high level.
So watch out. We know what happened last time. Rick painted the cup and handle at this new old time high level. So watch out. We know what happened
last time.
Rick painting that cup and handle.
Dude, we love a little cup and handle
on this show.
Yo, Midwest.
Let's take this thing to old time highs.
Yo, Midwest. What up? What up?
It's your boy.
Put down the pickup truck.
Pick up.
And pick up some rent.
Let's take this to the old time house.
Let's go, Midwesterns.
Nerds.
We got this.
We got this.
Anyways, that's a good wrap up for Mark.
We covered a little bit of the topic.
Let's go to Tyler real quick and see what you got for us.
Crypto major is mostly even now on the day
after some volatile price action
following FOMC and then some strong
Wall Street earnings
helped a fast recovery last night.
We had two announcements out of JPMorgan yesterday.
One, we covered on the show,
new partnership with Coinbase
to make funding purchases easier
using credit cards and credit card points.
And then in the evening it came out
that JPMorgan is also reportedly eyeing
Bitcoin and ETH-backed loans.
And they're currently looking at how
the mechanics of how they would accept
those assets as collateral and might roll it out as soon as next year.
So that was big.
We have the Roman Storm tornado cash trial in jury deliberation
after three weeks of trial so that we can have the verdict anytime now.
And then breaking news before the show, Nate Chastain, appeal went through.
So Nate is going to be freed, it looks like.
Wow.
In a surprising headline this morning.
We had Investo and Galaxy file for a sole ETF for the CBOE.
The CBOE also filed a proposal to streamline the approval of crypto ETFs, perhaps clearing the way for a lot more launches coming Q4 and in 2026.
Corporate treasuries was a lighter day.
Fundamental global $200 million ETH treasury.
CEA Industries $500 million B&B treasury.
So a lot of action B&B treasuries this week.
Hyperliquid announced it's going to process refunds for anyone impacted by its downtime.
Also this morning, Circle announced they are going to enable USDC deposits straight to HyperEVM.
So big endorsement there
rectorings as we just mentioned three minutes a lot new record meme land officially launched its
new launch pad moon it uh has some interesting characteristics i think we might try to get
stats or even nine gag on the show soon to go deeper into that and then myriad officially
launched its money markets on linea also coming on for a new record month for volume for Myriad as well in July.
So you love to see that.
Oh, yes.
Memes were green this morning.
I think giving back some of the gains.
Pump was the top mover on the day, up 28% earlier this morning.
LaunchCoin's also up 20%.
They've been sending some of these other older memes.
Troll was up 40%.
Chill House was up 100% after this Little Chillers.
NFT Mint, I think it's been retracing and then wrecked,
closing in on all-time highs.
It was a big day for NFTs.
Two new mints, no bad trippers from Killer Acid,
3X'd for Mint Price, and then the Little Chillers.
It's all about $2 million in volume on Solana.
Ran to a seven-sole floor back to three and a half or so this morning.
And then the other side from Yuga,
they announced their new game,
Bathroom Blunts, is live in the next two weeks.
So some action in the NFT streets.
Action, action.
Yeah, dude, I just checked.
Surf Quarry is a little different than ours,
but we're closing on 2.2 mil.
He's got us at 2.5.
I got to check the source of truth,
but wow, we had a good month.
Jesus.
Wow. Damn. Wow.
Damn.
Previous all-time high was one and a half, boys.
We're pumping.
You hit 300 mil, too.
We're not doing heat volume, but we're doing a lot of volumes.
It's good to see.
I love to see that.
So, you know, chat's winning.
The chat is winning.
Tyler, where do we want to go first?
So we already covered Myriad, Linea stuff.
We went in depth into the Ethereum stuff,
et cetera, et cetera.
Maybe we can talk about Nate Chastain.
He's free?
That happened before the show.
He's free.
I don't know that we have a whole lot of info beyond that.
Let me see.
I don't think so.
Federal Appeals Court overturned the wire fraud
and money laundering conviction.
Nate was a product manager at OpenSea.
The Court of Appeals agreed that his conviction
was tainted by jury instructions.
Whoa.
Could have let jurors convict him of fraud
for acting unethically,
even though he did not invade a property interest
belonging to OpenSea.
So interesting.
So they're basically saying perhaps
that the jury was swayed.
That's interesting. Probably because of basically saying perhaps that the jury was swayed. That's interesting.
Probably because of just like anti-NFT and anti-crypto rhetoric in making this ruling.
This is a tricky one for me because as I remember it, like it was fairly cut and dry.
I mean, he did participate in insider trading.
So I think it's just a question of what should be the punishment for that.
Like, he did it.
Interesting.
But yeah, it looks like they appealed
it. What I'm
wondering about, and I don't have
a great feeling on this Roman Storm case.
Some of the folks were
tracking it closely. They made it seem like the jury
just had very little understanding of the technical were tracking it closely. They made it seem like the jury just had very little understanding of the
technical details of this case and like how tornado cash works.
And regardless of your personal thoughts,
I feel like there's a real chance that this jury just does not understand the
situation and perhaps is also going to come to their own conclusion.
I mean, maybe we'll find out
today.
Just so I know,
I'm maybe less pro-crypto
on this.
The guy created a money laundering platform
and knew it was a money laundering platform.
Where do you think
that liability should lie for something like that?
Is it just on the money launderers do you think do you think there is some
Responsibility for the person who created it well
If pedophiles are using Facebook to send each other's photos
No, okay
Okay, because I think Facebook's stated aim is not that right? It's not to obfuscate funds, right?
It's just, it can be this, the aim of this platform is that.
So it is to make sure that people can't track where the funds have come from.
All he did was like write a smart contract, right?
I just don't know if you can say that.
I'm not...
And this is like...
This is kind of separate.
Do I think that's an egregious crime or not?
But if the US deems that to be a crime,
I do think that they have a chance
to convict this person.
I don't think this is like, oh my god,
this guy did absolutely nothing wrong.
The developer of TornadoCast knew what they were doing.
And if he was in the US
and it broke US laws, then
I think the US can convict this person.
I don't think this is a clear
case. I think you could
have a slightly better angle
with
Silk Road.
Because Silk Road, you just create a marketplace
and you could argue that anything could have been put on that marketplace.
And unfortunately, it was done by certain goods were put on there
and that maybe wasn't the aim or this sort of stuff.
The aim of this is to obfuscate the origins of funds.
So I don't know.
Yeah, it's tricky.
I've been thinking a lot about it.
And I'm kind of leaning on your side of it as well.
I've always been fairly anti-Tornado Cash
just because it seems like the primary use case is money.
Longer though, I do understand the privacy side of it.
Folks who
make a lot of money via their protocols,
they want to be able to
try to maintain privacy to
take away attack
vectors, I guess. I do understand that
use case as well.
I just think on the balance, probably there's a good
chance it gets convicted. I don't think so, probably there's a good chance it gets convicted here.
I don't think so
because it's not like the jury
understands crypto as much
and they can probably overturn it
in that sense.
Like, yo, you guys know
what you're talking about.
And they'll get over it.
You know what I mean?
Maybe it gets overturned that way.
I just feel like if the US
is going to embrace crypto,
this is something
they're not going to embrace.
Yeah.
I think that's fair.
That's, I get that.
The privacy part is really important, right?
Because in common law,
it's about the precedent that you set
in a court of justice, right?
So this decision will set a precedent
in all the decisions that judges will make in America
for a long period of time, right?
So if you think about it that way...
In the banking industry, there's huge rules around this.
Yeah.
I understand your point.
In the way you're right, people use this thing to launder money like crazy.
But in the same sense, people have used Bitcoin to launder money as well
and exchanges and a bunch of other things.
That's kind of the way I see it, I guess.
And then the guy wrote a code that was used and abused.
That's for sure.
And now he's going to, does he get to pay the price for that?
I don't know.
I don't know where, you know, I don't know.
I don't, I don't.
I just think the U.S. will, will convict,
will continue to try and convict this, this, this, this thing.
So if you're, if you are a cod this, I think they're going to continue.
Yeah, I think this is remarkably
the only thing that has stuck.
Pay attention to that. They're going to embrace
crypto, they're going to embrace stablecoins, but they're not
going to, they're still going to come down on money laundering
it feels like.
They want control of the dollars
on the blockchain.
Yeah, I think that's right. I think it's probably going to be guilty
and then I could see an appeal perhaps.
Yeah, I just,
I'm seeing some of the chatter
like regarding,
comparing it to Silk Road founder
talking about using real life examples.
I'm reading some of the chat
you i i get the laundering part which is why usa may just go hard at it because of the laundering
part you know to be clear i'm someone who has not also been like hugely hugely supportive of
of um ross like i didn't think it was like clear cut that the guy should have gone out like oh my god this guy's like whiter than white like the shit that was going on that platform was
wild so you can't argue that like yeah that maybe there was some responsibility i have to say i do
wish i was the type of guy that was dealing acid on silk road 10 years ago because i'd probably be
richer today acid's fine but if it's like if it's weapons and
child pornography like yeah maybe maybe somebody should have taken responsibility as it's fine
y'all as it's fine y'all but the rest of that shit definitely is not um yeah no i get it i i see your
points i'm curious what the audience thinks maybe we should get a lawyer on tomorrow you know maybe
we should get a lawyer on the show tomorrow and you can never get a straight answer get a lawyer on tomorrow. You know? Maybe we should get a lawyer on the show tomorrow.
You can never get a straight answer from a lawyer.
We always get lawyers on the show.
We've paid a lot of lawyers.
These motherfuckers can't give you a straight answer for shit.
Okay?
I beat up.
We have several of them we're working with right now on a bunch of shit.
So, anyways, that is definitely a case to follow, though.
And we do have a married market for it on Abstract.
Just saying.
So if you're interested, if you have an opinion, if you have an opinion on this, we have a market on that.
And let's see what the markets are saying.
Will Roman Storm be found guilty?
The yes is at 55% and the no is at 45% at the moment on Marriott.
So what do you think?
What will you take here?
Yes or no?
You guys kind of leaning yes here?
I'm seeing.
Yeah.
Okay.
Yeah. I'm leaning towards yes.
Yeah.
Yeah.
Because of money.
The U S doesn't fuck around with money laundering,
but I'm going to lean towards no.
How do you compare this to like...
They aren't going to get CBDC,
but they're going to make...
It feels as though the US is happy to embrace crypto
if it comes with some of the same rules for banking.
Let me ask you something.
The head of the HSBC,
which is constantly,
constantly getting fined for money laundering,
by the way, HSBC Bank, right?
Constantly.
He's not in prison.
He's on a private jet right now going to St. Bart's, for what it's worth,
or having fun in St. Tropez this summer.
You bring up a very good point.
You actually bring up a very, very good point.
I went to law school.
But they have changed it so that for cases like this,
top executives can be criminally
prosecuted. That being
said, banks have
billions of dollars that they
have used in terms
of settlement for this.
The HSBC is constantly
getting, constantly getting
fined for money laundering.
All the banks are, right? This is what I did.
I was an anti-money laundering consultant for money laundry. All the banks are, right? It's like, this is what I did. I was an anti-money laundry consultant
for five years.
But I think back to Mando's original point,
that's not,
but banks weren't created
with the use case of being
a money laundering platform, right?
Like that has been one of the ways
that people have found ways to use banks, but
I don't think anyone
would say banks are bad
inherently because
Tornado Cache used them.
I think he's got to make sure
when is Tornado Cache
used when it's not for this let's put it that way
and i think that's that's kind of gives you the answer that like it's it's holistically used for
this so that that that's a bit of a worry for this guy yeah all right well we'll see where that
leans i'm honestly just towards like because it's a jury and a court and it has to be a hundred percent to one,
right?
It's like,
everybody's got to agree.
I'm leaning no for that reasons.
Like the whole money laundering that they don't understand what's perfectly
immutable small contracts means these juries and stuff.
Like there's a,
if the guy has a good lawyer,
which I'm sure the lawyer is great.
I'm leaning towards a no here.
and so,
and so we'll see. Anyways, I do have five more minutes. I have a hard stop. I'm leaning towards a no here. And so we'll see. Anyways,
I do have five more minutes and I have a hard stop. I'm going to interview
to make. Is there anything, Tyler, I missed out? If not,
give it tomorrow and give some money away.
Yeah, let's get into it.
Alright. Yuta boards, baby. The code
today was ETH10. We mistakenly gave you
the same code as yesterday, but hey,
if you had it, you had it.
So a lot of y'all got it.
And so ETH10.
ETH10.
Let's see what you got.
We may do.
Depends on how fast we are.
We made a little risky click.
If not, we'll do a little plinko for you guys today.
So let's send it.
Today it's you, right?
Sim's doing this stuff with us.
By the way, next week, our beloved producer,
Simothy Chalamet, will not be here.
But it's fine.
We're still being produced.
But when it comes to the giveaways,
we're going to not do the spinning wheel,
but we're going to find something fun.
We're thinking, Mando,
we're talking about Tyler doing something for the subscribers.
Well, I don't know.
We're going to figure it out.
But, you know, we're thinking of picking in a different way
next week for the show.
All right.
So it won't be spin, but we will create a new way of picking.
Let's go.
Let's do it.
Come on, Christos.
Christos World Domination.
Give it to Christos.
Yui!
Yeah, Yui.
Yui!
Yui!
All right. yeah, Uwe Uwe Uwe all right yeah, LJ
set up
who's Uwe
no, it's BBO Pakim
what the fuck
Uwe or BBO Pakim
what?
BBO Pakim
is that his kid?
oh, there he is
there he is
there he is
there he is there he is. There he is. There he is. There he is.
There he is.
All right.
Congratulations.
BBO, pack him.
Do you guys mind if we rip some Plinko today?
It's because your boys got to go.
Yeah.
I'm getting on.
I'm doing an interview for national television.
Yeah.
In Quebec.
I'm,
I really,
I really missed you being there,
right?
I'm still there.
I'm still there.
You're going to tell it like that.
I'm not turning up like this.
I'm not,
I'm not turning up like this.
I'm putting a shirt off.
I'm putting a shirt on.
Okay.
I'm putting a shirt on.
All right.
Which should we do?
10 balls or 50?
What do we want to do?
Like the last couple of ones haven't worked so well, man.
What do we do?
10 balls or 50?
Yeah. Or do we do? 10 balls to 50? Yeah.
I'm still doing 10.50.
Or do we one ball 500?
One ball 500, I always love.
He's already got 500 in the bank.
One ball 500.
All right, we're doing this.
Oh, wait.
There's a maximum, Mando.
Oh, yeah, maybe.
So maybe two 250s.
All right, let's do this.
Let's do two 250s.
Because he already made 500 bucks.
And by the way, if he gets 0.2x,
he wins more money. So he's going to make
more than $500 anyways.
That's right. Yeah, so he's probably going to make
like 600 minimum or something.
All right, Yui, PP, Kim,
whatever your BBO, BBO,
pack him. He's like, geez.
There you go.
He's like, fuck.
All right, two balls are 250 volatility high
Drop speed will go medium here. We'll make it fun row 16 two balls 250. Let's go
Oh, no.
That was real bad.
0.2x.
What's 0.2x 500?
That's 100.
100.
So you made 600 bucks.
Okay.
Okay.
So you made 600 bucks.
So there you go.
Congratulations, BB Pack, for making $600.
Tomorrow is Far Coin Friday.
Please, for the love of God, if you're listening to me, if you can just reverse here, it would be great.
And with that, with that, with that, with that, with that, it's all tomorrow morning, 10 a.m. Eastern.
It's down in time for another episode of FOMO Hour on ROG Radio.
Let's go. Thank you. I'm sorry.
