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FOMO HOUR: FOMC DUMPPPPP
Recorded: Dec. 11, 2025 Duration: 0:50:49Space Recording
Short Summary
Crypto markets are witnessing a downturn as Bitcoin and Ethereum prices drop, while new partnerships and token launches signal ongoing innovation in the space. Notably, Superstate's support for tokenized equity and Gemini's prediction market launch highlight significant developments amidst the market's challenges.
Full Transcription
The End Thank you. Yo, yo, yo, yo, yo, what up, what up, good morning, good morning, GM, GM.
Morning GM, GM, Thursday, well, it's Thursday, right?
Yeah, I think it is.
Thursday, December, like it feels like December 75, honestly.
December 11th, 2025, look at that, another beautiful day to have a beautiful day.
I got my co-host in the house, Tyler.
Tyler, Tyler, Tyler. Good morning. How are you doing today?
I'm good. I'd be better if my beloved internet coins weren't falling through the screen
right now. But hey, maybe we're catching a little bit of a bid here.
And you're right. This December, it's only December 11th.
It does feel like this has been a long here. And you're right. This December, December 11th, it does feel like this has been
a long December.
Right?
The sun sets here at 415.
I know. That's my worst part.
We've had snow on the ground for weeks.
It is
a brutal stretch.
And our price action
is not helping. It's always the toughest stretch.
I don't get to live that as much this year.
Thank God.
But it was always like a mega brutal stretch.
It does feel like a super long December.
Obviously, I mean, last December we were like buying Whiff.
No, that was 2023.
Last December.
It was the AI coins.
I mean, we took family to Disney World.
Oh, Farcoins.
I was like chopping at the bit to get back to the desk because there was so much action.
Yeah, last December I gave my brother a Farcoin at like $5,000 worth of Farcoin, like 900 mil.
I remember it being like $12,000 like two weeks later.
And then Trump.
Yeah, okay, I see.
Tons of action. And now it's a polar opposite. Yeah, I weeks later. And then Trump. Yeah, okay, I see. Tons of action.
And now all are upset.
Yeah, I remember now.
Now this December, I am beat up, tired, a little burnt.
I'm exhausted.
Oh, yeah, Pengu, that was a big one.
Pengu.
It was huge.
Yeah, last December was one of those manic, crazy fucking Decembers.
It was just nonstop.
But it's okay because we are here.
We need a nice airdrop to bail us all out.
Is that too much to ask for Christmas this year?
It would be nice.
We want the Santa Rally, but it's starting to get away from us
day after day but it's okay both binance didn't binance's research team posted on the main account
from the binance blockchain that they believe will see highs in jan and feb i think so right
we keep kicking the can down like when we think these all time yeah ra We keep kicking the can down when we think these all time.
Yeah, Raul's kicking the can down also on the altcoin season.
Alt season, baby.
It's coming.
It's around the corner.
We have Raul's altseason 26.
Obviously, LaRole.
Binance saying JanFeb.
Hey, Tom Lee, in the interview,
said JanFeb highs.
We have Bitwise, Matt Hoogan.
A lot of the institutional side of institution crypto beliefs for your cycle is fully broken.
And that will get big running in early next year.
But anyways, we'll talk about this in a second.
I see my little news too.
So today on the show, markets, news, banana zones, all seasons.
We'll talk about all the good stuff.
Then we'll give some money away.
I cannot wait.
Yesterday, I cooked on the stream with Wiz.
I wasn't on it.
I was in the comments.
But hopefully, he hit a barn run on his first shot.
So hopefully, we got a barn run.
He did the Omaha stuff.
He cooked as well.
So hopefully, we get to cook and give one lucky listener a whole lot of money.
And last but
not least this show is powered by eigencloud eigencloud built on eigenlayer security extends
crypto great variability to any application from ai agents to prediction markets build anything
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All right, FOMC's behind us. That was the last most important FOMC of the year.
Now what, Mando?
So, we did have the FOMC.
It was okay, wasn't it?
It wasn't the best. It wasn't it? It wasn't the best.
It wasn't negative.
It wasn't positive.
Yeah, it was like a... It was what everyone expected.
And I think the market
just did a Darth Maul,
went up and smashed back lower.
I would say that it kind of...
This doesn't look...
This looks worse to me than it did yesterday.
I'm trying to zoom in different places.
Okay, chill.
I still think we're going to...
We'll hit 80.
I still think that we won't go below 80.
But yeah, like Solana doesn't look great.
ETH actually looks like it's our performance of Bitcoin.
didn't look great.
sorry.
Yeah.
I'm,
Liz is laughing right now.
FOMO hour LOL with two guys who are basically permabulls trying to kind of show a little bearishness.
Yeah.
I'm not permabullish,
but maybe I'm wrong.
I think that, yeah, we're going to,
we'll have one more touch of 80,
which is what I said yesterday.
I think that even more now
because we had that third hit at 94.5
and actually a lower high on that third hit.
And now that kind of feels like,
this doesn't feel like a very strong footing.
Maybe I've been too bearish recently,
but it's because I just feel this second hit coming.
Zcash, the coins that we said yesterday would be strong,
were the strongest.
In the rug overnight
though, it feels like
ETH is perhaps losing its strength versus Bitcoin
slightly, I would say.
And Fartcoin
hasn't really bounced. It's just kind of like
traded down with the rest of the market.
So it's only really been Zcash,
which has shown
continued strength, let's put it that way.
Yeah,
definitely. Tyler, I think, what did you think
of yesterday's FOMC?
I thought it was fine,
and I didn't know if he was coming in
hawkish or dovish.
My read, I listened to the whole thing,
was neutral, slight dovish was my read.
But I think perhaps one of the hawkish takeaways
was the 2026 forecast had the rate projected at 3.4,
which means just one more cut.
Though if you look at the CME odds,
it tells a little bit of a different story.
So it's still,
we're still 60% plus to get two more cuts.
So I know my takeaway was it was fine.
And his commentary on inflation jobs was kind of in line with expectations.
He seemed somewhat bullish on the economy.
He didn't seem too concerned was my read.
Bitcoin sold off right away.
And then I'm wondering how much of this second leg of the sell-off is just like the Oracle AI sell-off.
Is this just a correlate?
Because stocks are down today too.
The AI stocks are down.
My bull case, I'm squinting.
I see a higher low.
That's the hope I'm clinging to.
I'm on the life raft,
clinging and squinting and puking.
Look at the Bitcoin chart.
Let's squint a little bit.
We did bounce off 89.4 there.
Fairly strong.
What's notable to me is the ETFs are net buyers.
Saylor bought a lot.
Since November 20th, the ETFs, both Bitcoin and Ether,
are buying fairly substantially.
So the sellers are in the room with us.
So what is...
I mean, they have been all year.
What is the...
Why November 20th have you chosen?
That was the day.
That was like the puke.
That was like 900 million ETF outflows that day.
Okay.
So you just chose the day after the massive outflows.
Yeah. Huge arbitrary points. It's right there, right?
It shows on the chart right there.
You move it one day and they're actually
outflows.
Big ETF
inflow and outflow guy.
Move it
by one day and it's completely the opposite.
If you look at December,
it's like, okay, if we pick December,
that's a little month, right?
Yeah, let's look at that tracker here.
December, 227
net inflows for Bitcoin,
205 million for E, so they're
kind of in line.
It's not huge. Those aren't huge numbers by any means.
We used to have bigger
daily inflows than that.
Even
before 1010,
now I'm looking at the early days of October.
I'm going to write all these off for you.
October 1st,
$675 million, $627 million,
October 2nd, October 3rd,
$985 million, October 6th, $1.2 billion, October 7th, $875 million, $627 million, October 2nd, October 3rd, $985 million.
October 6th, $1.2 billion, October 7th, $875 million.
What a massive inflow streak that was headed into 1010, man.
We didn't know how good we had it.
Man, take me back.
take me back. Prices were pretty boring during that time.
Take me back. Prices were pretty boring during that time, I'm honest, man.
I'm honest, man.
That was big
long-term holders dumping and
ETF buying. It wasn't like
we had some incredible price action.
That's when we went to $125.
That early stretch of
October, we went
$110 to $125, 125 so 15 percent move i think
that's what that's when i was personally very bold up that we were just going to go to the moon
into q4 october upvember upcember and the wits fell off of course on 10 10
i think we just gotta to wait, boys.
With no read on this market.
Like,
it's coming back to
FOMC.
Like,
I don't think FOMC
is driving price
action today,
I guess.
It's kind of my
read.
Like,
do you guys feel
opposite?
I feel like he was
better than what
most people thought
it would be.
What do you think,
Mando?
Like,
a lot of people
were talking about
hawkish cuts.
We got the cuts
obviously,
but he was
slightly dovish, actually, you know? A lot of people were talking about hawkish cuts. We got the cuts, obviously, but he was slightly dubbish, actually, no?
What did you make of that?
Yeah, I thought he was a little bit hawkish, but not more than I would have expected, if
I'm honest. I think he... Yeah, I think that... I can't imagine you came away from that not thinking
that that's what everyone thought.
I think what Tyler said there is interesting here more
is that we saw this sell-off in Oracle.
Oracle's kind of been like the weakest one
out of these AI names recently.
And there is a little bit of a confluence here
in that like we saw stocks, remember I said, she had them yesterday, it could be a bit of a confluence here in that we saw stocks.
Remember, I showed them yesterday.
It could be a bit of a double top.
If you bring up the NASDAQ chart.
NASDAQ chart.
NASDAQ.
Right there.
You got it.
There was like this attempt at the high again.
And then that's maybe not the best i can chart
right unless it turns and continues uh because we're just hitting you know a decent size low
there and now we've rebounded but we have hit slightly lower lower high so far so
if i'm in stocks right now, I'm worried about that.
You know what I mean?
Like, I'm like, oh, you know,
this is a worry.
People were talking about that quite a bit
over the last 48 hours.
They're like, oh, maybe we've just put in the high there
a little bit for a short while.
As we rejig who's going to make money from AI,
not everyone's going to go up.
You know, remember Larry Ellison, for a brief period,
was the richest man alive.
For like a hot day.
Yeah, that has shifted.
So I think...
Yeah, don't be...
I think there's above 50% chance here
that stocks have a little bit of a wobble.
I think we have wobbles.
Last week, we dug through the BlackRock 2026 outlook
and some of their core themes where they are risk-on,
but they're only risk-on a handful of sectors.
One of their key themes was diversification is a choice and perhaps a bad one.
Another one, they said multiple times that this is a choice and perhaps a bad one and another one they said like they said
multiple times that this is a very vulnerable financial market and like expect volatility
right so like when things when we get wind that there's any trouble in the ai trade like we're
going to see drawdowns right so like it's gonna my takeaway is it's gonna be rocky
Even in 2026 even if you think we do grind up which I do
It's not gonna be straight up and gold looks amazing though. Look at that
There's an S&P look that bad to Amanda. Mando? I mean, unlike the NASDAQ, it's not...
Both look like they're putting a double top to me.
S&P looks slightly better.
God damn it.
People are going to hate us.
Who's the Bitcoin 94K seller that just keeps dumping?
Yesterday was wild.
Well, 94k is the yearly open.
Yeah.
So I think that's why that's such a key level as well.
Because it affects the yearly.
If you bring up, can you do a yearly here?
Yeah, I can here.
12 months.
So we've hit it five times in December.
Roughly.
You want yearly?
There it is.
There it is. So where does that turn? I want yearly? There it is. There it is.
So where does that turn?
I don't actually know the exact.
Is it 93.4?
Yeah, 93.5.
So that's the level it's kind of touched a few times
and then gone slightly above and then got smashed by it down again.
Yeah.
I mean, if you zoom out, guys, okay,
if you zoom out to the 12-month Bitcoin chart, it's not that bad.
You just may have to wait 12 months for a new high.
A wick year.
They did Darth Maul in the early.
Oh, man. Boys. I listened to the Tom Lee interview. It was a nice interview. they did Darth Maul in the early. Oh man,
boys.
Like I listened to the Tom Lee interview.
It was a nice interview.
What do you think?
What do you,
what do you make of it?
Well,
my takeaways from him is generally how I feel as well.
It's like macro macro zoomed all the way out.
The highest is if you do have conviction and assets that you should sell,
that investors are the ones who create wealth, not day traders.
And that true bulls are happy about price action like this because you get more
opportunities to buy.
And he was talking about ETH specifically and how he loves to just gobble up
ETH at 3K.
Right.
Yeah.
So it's painful near term.
I always struggle with like the concept.
I feel like CT specifically is such a,
like a trader heavy or the folks.
Like if you,
if you think this sector is going to continue to grind higher on the next
decade,
just
hold through it, I guess.
It's always been my view
versus trying to sell tops and trying to
buy boxes.
Especially now, this stuff's outside our control.
It definitely is.
Maybe a little easier when crypto natives were totally in control,
but now it feels like
there's a whole lot more big players involved now.
This is my view. I'm curious for the people's takeaways from it, though.
Yeah, look, he's
super bullish on ETH. That's my
main takeaway.
I think it's kind
of fair.
He makes some good points.
I think it's slightly
reductive in that there's lots of other
L1s and ETH hasn't necessarily, like, him being bullish
and it doesn't just take away the problems that have been
around the value accrual to actually ETH the token.
His commentary was largely around the use of the network
and I think that thing that's been challenged here,
which is how does that accrue back to the token?
And I don't think that's...
This year, L1s have been smoked because of that exact thing.
Hyperliquid and apps which have made money have done okay.
But L1s, by and large, they earn fees,
but as a token holder, you don't actually have access to those fees.
So it's more like a network token of some sort,
but then what's the value of that network?
And I think that's been questioned a bit.
So I think he makes good points about the future of ETH
and that ETH can be a place where decentralized capital markets flourish,
I don't necessarily know if that's great for the token.
That's the trillion dollar question.
That is a trillion dollar question.
I mean, it's been the question forever.
That's kind of the point.
It's like, that's not a new question, that's a question that people were talking about
With the L2s originally and then now
With L1s more broadly
I think he's a good spokesperson and can
Attract capital to ETH
ETH needs to be seen as a currency
Widely
We need to get back to the idea that these are actually currencies
I think
I think.
I think he's got a good shot at that.
No, 100%. BTC, it's also have a big shot.
Like, even Sol, like, I think it was just, like,
two guys yesterday on REC.
Like, even though trading-wise, it may look like shit,
even though, yeah, you may be able to buy Sol again under $100.
Like, fundamentally, even today, like, Raj was talking from Solana Breakpoint,
but what they've achieved, what's next, etc.
I feel like it's transcended.
It's like a winning altcoin.
And you're going to see Solana win
throughout multiple cycles, right?
So it's just short-term price action here.
I mean, what do we think?
If you zoom out to this Bitcoin chart,
we really want to compare it to like these periods here.
Maybe close a month here, like you're saying, Mando at 80K.
And then perhaps, you know,
the people who don't believe in the four-year cycle anymore
are saying Q1 is going to be big.
So maybe it's what we see.
I don't know.
I don't think we're like,
I think we could rebound off 80 basically is what I'm saying.
I don't know if we end at 80.
I think we have one more shot, at least, of hitting that.
Okay.
A lot of specific talk about this.
Since we're having a zoomed-down combo.
Yeah.
Go to the Salon.
Yeah, going on right now.
Switch it to MarketCap.
To MarketCap?
Oh, yeah, it's true because it's emissions.
market cap.
There you go.
We'll go to the weekly maybe.
So price is
where did price peak last cycle?
It peaked
at 270 roughly,
260.
So we're at 50% of the token price, but we're at the same market cap.
Right.
So that does have to be taken into account, right?
And this is where the inflation can catch up with you over time.
Yeah.
The token is as valuable as it was his last cycle peak.
But if you held through that,
you're down 50%.
Wow.
That's crazy.
I didn't look at it like that.
Wait, that's actually nuts.
It never put in a new high in market.
Oh, it did.
Sorry, that was 225.
In January, it did market cap all-time high.
Jeez.
This is the trouble with the
inflationary tokens, right?
Yeah.
As we think about this new wave of ICOs,
new token launches,
and Arthur was talking a little bit about this
and of course,
take his opinions with a grain of salt.
What are his true motives?
But this new idea of trying to get all of your tokens
to fly out to the market as fast as possible,
discover true fair value,
and then go from there is an interesting one.
We see what happens.
We have a long history of tokens who go the opposite route.
Yeah.
Yeah, part of me thinks that, even for a business like Yeet or Myriad, for example,
would you want your full token value out there right now?
I think part of the reason why they're linked like this is because for growing businesses,
if you put the whole of the total market where everyone could trade it out there straight away,
it's just not, it doesn't grow
with the business. The only real
buyer essentially is yourself.
Like a buyback.
So I think for revenue
producing businesses, there is a real
reason why you would have
a smaller market cap to
total, right?
Hyperliquid is a good example, right?
But for L1s, yeah.
Like, I don't really know why he wouldn't.
The Hyperliquid chart.
Goblin town.
Yeah. Yeah.
Yeah.
It does feel like it,
right?
It's a,
here's my hyper 13.
Am I going to get another shot?
I remember that.
It's,
it's the holidays,
man.
Like,
you know,
we can just chill.
Rather.
We're going to take like a whole week off.
I think during Christmas time and shit
I hope so
we should just come on
when we want to you remember we used to do this
a few years ago during the holidays we just
hop on fuck around maybe do a little
yeet some festive
lamb chop I'll be here with my family I'll be
chilling
December 11th
when do people is it like the 20th people stop working and stuff when do you think is it? December 11th. When do people,
is it like the 20th people stop working and stuff?
When do you want to stop?
It's next Friday, baby.
That's it.
Fools are off after next Friday.
Yeah, next week is a full week.
No, not right now.
Hold on.
Shit, sorry.
Next week is another full week of work.
Even for us,
we're trying to finish everything
because I know everybody's going off
or people are going to be half
here.
You've got to wrap up everything for Q4.
Next week's like a crazy week.
Then that's when things
really start to...
We'll start to slow down.
Thank you for understanding.
Before we slow down, we've got to check in on Synthetix.
Yes!
Let's go. I haven't even looked at it since this morning. The leader we slow down, we got to check in on Synthetix. Yes! Let's go.
I haven't even looked at it since this morning. The leaderboard's down, though.
I only look at one trade.
The leaderboard's down, boys.
The leaderboard's down. No!
It's harder.
I think Mando's, when I was the last check,
he was in, like, place.
Let's check on the Synthetix.
Last time, I just, I'm definitely,
last time I just,
I basically martingaled Zcash.
This time,
I'm just going to let this short ride for a little bit.
Cause I'm kind of short,
a decent amount of Solana here.
If it goes to a hundred.
You'll win.
that's kind of my point.
I'm just going to be like,
okay, well this would, this would be nice i uh i yeah i had a good trade i closed everything uh around the same levels we're at right now i um
so i shorted the shit out of bitcoin and then i shorted solana and then I held it into FOMC, which was wild.
You guys should have seen my account went from a hundred K to like $5,000 left.
And I was about to get liquid amended during FOMC.
And I think my lick went down to like 94, five and at 94, four, the market just reverses.
I'm like, fuck it.
This stage I'm either in or I'm out.
I go to bed. Middle of the night, it's like 3 a.m. here, man. I'm like, I don't know,
my stomach hurts. I'm like, get up. I'm like, let me check on the prices. We're down to 90
and like 129. I get out of bed. I go to my living room, grab the laptop, just close all the
positions. And I was thinking that was like 100K P&L on that.
So that took me to top 20.
So we're alive.
We went from...
You haven't got any trades on right now?
No, right now I'm flat.
And I'm flat around this level.
So I closed Bitcoin at 90.1, which we're at.
And I closed Solana at 130, which I think we're there, right?
Very close.
Yeah, 131.
So I actually closed lower.
I closed at 129 to 130 and Bitcoin
at 90 to 90.1.
ETH is definitely the weakest major right now.
So what do we think?
What do we think, boys?
Zeke was the trade though.
Zeke went from fucking
390 last night
to 455
this morning.
Zeke Long's have
been cooking
in this tournament.
You couldn't
even keep him on, though, because it still
has thrown back 20%.
It's thrown down
20% and 15%, even
in this up move, which is just
you have to be
fast and you have to be in and out of the
positions.
The thing is, this weekend, you never know how
the weekend's going to go, but typically Saturdays
have been pretty flat.
So market closes Friday.
Friday to Sunday morning
have been fairly flat, and then you
either get the Sunday pump or the Sunday dump.
This matters
because the tournament ends Monday.
It ends on Monday?
It does.
It was two weeks this time, not one month.
Okay, so I've got a shot here.
You and I were missing the first week.
You definitely have a big shot.
I thought it was a
month at first.
Four days, eight.
So that's going to end at 6 p.m. Eastern on Monday.
I got to go for this then.
You both are in the running.
You both are live.
There's a protest outside my house.
Yeah.
I mean, you have a shot first.
Things go right, certainly.
I mean, we're not that far.
Like, in terms of, I wish the leaderboard was...
I know, it's so hard.
We were, if I recall, top five is in the 300-ish.
So, Mando, you're close.
I'm a little, like, I'm in between a lot of people.
Like, that, like, middle part where I'm at, like, that 15 that 15th to like 30th is really tight in
the 200s but i mean i need a 2x amando you need like you and i hit two x's here and we're we're
fucking money like we're we're top five here you know right i gotta go for it though all right i'm
gonna think about what i'm gonna do okay tell me what you do okay let's go for it together as a team. All right?
If we finish... Think about it.
If you and I finish 1-2,
we can split the 1-2 prize.
I've got to...
I mean,
number one is on what?
200k.
No, no.
What is the figure?
600k-ish.
Depends.
I don't know.
I've got to fucking like... Yeah, I guess... I mean, G Money took 100k toish. Depends. I don't know.
I mean, G Money took 100k to 1.5 mil in like
three days last time.
But we also kept smashing
lower and lower. He only was short.
It was short, short, short. He kept going short
at support and we kept smashing.
This could happen again here. We could keep going
lower on... I'm seeing the same
setup here as last time.
This is a weird...
We're in a weird line.
Yeah.
We're hyper near-term trading.
Right? So Bitcoin balance
still has a little bit of a
higher low going.
Yeah.
Are you going to stay in the range or are you going to lose
the range? Yeah.
In the next few days.
Yeah. In the next few days. Yeah, that's, yeah, we'll see.
I'm tempted to smash it down again.
It's just like I'm not seeing any reason to go long either.
You know?
I'll wait.
We'll wait for the trade.
There's Farcoins and everything else.
So anyway, Synthetix, reminder that you can join Synthetix.io.
S-Y-T-H-E Synthetix.io.
You have the logo on our screen.
You can join our teams.
You can join our teams.
You can deposit some money.
You can use the platform
and you can join our teams
or you can just bet on us directly
and have a potential of sharing the pot here.
In the teams, Mando, you're third,
but that doesn't count other people,
so you must be top 10.
In the teams, I'm going to make this money.
I better go for it.
So even if he finished here,
I think his team would eat on that.
Yeah.
They would get one of the SNX tokens.
So make sure you join the teams
because like
we actually have shots
of pretty high team line.
Look at this.
Mando's third here.
Mate,
like our teams are actually
doing pretty well.
And we got no members.
None of y'all joined.
Zero on Mando.
Zero on Farouk.
So Mando's code
is probably Rek Mando.
If mine's Farouk,
I'm assuming yours is
Rek Mando.
And the it's exchange.synthetics.io. All right. So make sure you check it out. Let's give this another If mine's Farouk, I'm assuming yours is Rackmando.
It's exchange.synthetics.io.
All right, so make sure you check it out.
Let's give this another shot at the leaderboard.
I think they're probably bug fixing here.
So anyways, with that being said, Tyler, let's go to you.
See what you got for us. For daily NFT and crypto analysis.
Tyler D on FOMO, our cause to kick it.
We're in a bachelor's. Yeah, folks, crypto majors tumble after Powell cut interest rates yesterday for the third time.
Bitcoin down 2%, 90,100.
ETH down 4%, 3180.
Solana down 300%, 132.
In other headlines, Democrats accepted significant portions of the market structure bill have countered with three pages of changes.
So a bit of progress, perhaps.
Cathie Wood said the four-year Bitcoin cycle will be disrupted, implying a reshaping of Bitcoin's long-term market dynamics due to institutional players.
Superstate announced support for issuing tokenized equity on blockchain, Ethereum, and Solana.
Stripe acquired crypto payment startup Valora, a mobile crypto payments app built on EVM.
Doquan faces sentencing today for his role in Terra Luna.
Terra has been pumping. I think it was up 45% on the day, notably.
Bhutan launched TER as a sovereign-backed gold token on Slama.
Bhutan, by the way, they still hold $540 million in Bitcoin.
In Treasury's ETF, Bitcoin ETFs have flipped to net buyers since November 20th, as I mentioned, about half a billion for each of those in inflows.
And Trump family, American Bitcoin added nearly $40 million worth the Bitcoin did its holdings yesterday.
In token, airdrop and protocol news.
Meteora, we talked about this yesterday,
they disclosed $10 million in net token buybacks,
2.3% of supply,
and they're going to continue doing
those discretionary token buybacks.
FOGO, FOGO chain, high speed.
We got new ICO details.
They're raising $20 million
at a $1 billion valuation
with main net coming January 13th.
Gemini gained CFTC approval for prediction market launch in the US.
Sports.fot, you may know them as football.fot.
They announced an ICO on Legion and Cracket,
and they're branching into new sports like NBA.
Surf raised $15 million for an AI platform to build crypto markets,
and NFTs are bad.
Don't go look at NFTs.
We haven't looked in the wild, dude. We haven't looked in a while, dude.
We haven't looked in a while.
In any terms, they're just grinding down, unfortunately.
Hey, the Rothschilds are being wrecked, so we're good, right?
Yeah.
They've even PFP wrecked.
I don't know if you guys saw that.
So anyway, so I feel like there's a lot,
but not really a lot.
Like not mega headlines today,
just a lot of headlines ish.
I think the two videos are probably the most interesting for on chain
participants.
So we talked about Fogo is actually the one I was arguably the most excited
about.
And then they came out and said,
yeah,
we're going to do it at 1 billion.
So a touch higher than I was hoping it would come in.
They're effectively doing ICOs same level as MegaEth.
$20 million raise, $1 billion.
The tokens are going to be 100% unlocked at mainnet January 13th.
I think this is going to be the only pre-sale left, not a huge surprise.
People say it's fast
I haven't used the chain
I don't really know a whole lot about it
I know they debuted this fishing app game
I believe just to kind of showcase the speed
Of the chain
I think that the timeline
Fairly divided
I think you've got the folks who shout
Hey this is insanely expensive.
And the other side are getting paid?
There's the other side.
Who's comparing it to,
okay, Tempo raised at $5 billion,
Monad raised at $2.5 billion.
So this is lower than those.
I do think perhaps Monad had a little bit more
time in market.
I guess perhaps a little bit more
brand awareness.
Stripe and Tempo, of course,
Stripe's its own thing.
So folks are going to throw money at Stripe.
I was a bit surprised
at the
action number there.
Yeah, I have
no opinion on that.
Mega Ethan's launch, dude.
Here's the thing. If it was
lower, I was probably going to
fire on this one. Is that a billion, you said?
Yeah.
It's just, for me,
objectively, I just don't know enough about them.
It's just still too unproved. All I know about them
is that the Bodogos were paid to go to like their conference somewhere around the world and
they were dancing on stage um the dance was great doesn't really narrow it down to be honest
yeah yeah it doesn't really narrow it down it was like called some summit that they did
uh i don't know much else um I don't know, guys.
I don't know how you can be bullish on that yet here.
I was trying to think about this objectively.
I feel like MegaEath is kind of a darling on the timeline,
and I love Breadguy.
He's a great guy.
We've kind of come up together on crypto Twitter.
I feel like MegaEath was fairly unproven
I feel like MegaEath was fairly unproven during its ICO too, right?
during its ICO too, right?
What would you point
to the merits of MegaEath ICOing
at a billion, but not FOGO?
And if your point is they're all too high,
okay, I can understand that.
I was asking some buddies in the chat,
name three apps on MegaEath.
There's the one that came on the show there.
Euphoria.
No, Euphoria's great.
The other one.
On this show.
Euphoria's fucking dope.
I love those people.
What was it, Tyler?
You brought them up.
Jesus. Forgot.
The trading AI
shit, whatever it is.
Zoomer trading.
Oh, my.
Not trying to fight anything, but just trying
to objectively evaluate where we're at.
We're just being objective.
This is true. We're not fighting.
The mother of all L1s having trouble at its price point,
which is Ethereum, right?
And even Bitcoin is having trouble.
It's hard for me to think that all these other newcomers
are going to have just banger openings.
Like Monad had a great open for like 48 hours.
Incredible trade.
Smack back down right now to ICO level.
So I don't see it.
And it's nothing to do with the apps not being good.
It's nothing to do with the chains not being good, the founder not being good.
This is not fun. I'm just talking pure price action.
And ICO
at a billion?
For what? For a fishing game?
And like all my favorite influencers tweeting about it?
I don't know.
I think it just points to the idea that the ICO market
was so fucking hot a few months ago
that so many people were like,
I need the ICO, I need the ICO,
all this sort of stuff.
And now they've realized that
it may be drifting away from them
and they're chasing it on the valuations
that were there a couple of months ago.
If this had come out two months ago,
I don't think anyone would even better than I did.
Well, I think we would have made a comment like, yo yo, this sounds high, but, like, you're right.
Like, we maybe wouldn't have to bet. Yeah, like, you would have
done the trade, right? They still would have done the trade.
At a billion, though?
I think so. I mean, Mega Geek...
It's for, like, a trade, right? It's in it for 2X.
Yeah, but Mega Geek has, like,
a past of, like...
Not much more of a past but it's been
marketing for way longer
than this right
that's kind of where I was going it's like that's the difference
the main difference I can point to is just like the marketing
and social consensus difference
between
Megan Ethan what they did with their brand value
Mona I think had it
and then they lost it a little bit just because they were
kind of quiet you know during some of the
delays and Fogo kind of came out of
nowhere like I didn't really see anyone
talk until a couple weeks ago
yeah
it shows that marketing and social consensus does matter
it does 100%
I still think so what do we think
I mean is it going to sell out I think it probably will sell out
still it's 20 million
it looks like their last raise
was at 100 million
so their
their early investors
are effectively 10x already
yeah
yeah
I don't know guys
it's not great
anyways what else
the other ICO
the other ICO
football.fun
so that this was
yeah so they're
rebranding as sports.fun
as they branch into
new sports
so they're going to be
it looks like yesterday
they announced
an investment
from Coinbase Ventures.
And they're going to do an IPO
on Legion and Kraken.
See, this one's more interesting to me
because it's an app. And I'm curious to see how it
does. Right?
I'm not saying it's going to do much better,
but I'm curious about...
That's an app that was very hyped.
Did well for a bit.
It looks like it's still got...
What's the volumes like?
Do you know a bit of what they're doing?
Thanks for asking.
I looked into this.
Perfect.
$90 million.
$10 million in revenue.
$30 million deposits.
20,000 users.
70% retention week one.
Yeah, week one.
So how much of it since?
Week one is just fantasy top, right?
Week one was hype.
The last month.
I have to dig back into
the longer retention numbers.
They laid it all out.
They were up front with it.
Okay.
Find it while we're...
How big is this ICO?
This one's a little easier
for me to wrap my head around.
It's an app.
I can look at their volumes and revenues
and start to come up
with a number in my head
that looks reasonable
and do I think they're going to be able to continue to grow
as they branch into new sports?
That's easier
personally for me to wrap my head around than a new
I agree on that.
I do want to hear the volumes.
If someone in the chat, but I know you guys, the chat,
you're always on top of the shit.
If you know.
51% after week two, 35%
month one as of November 10th.
Yeah, I'm curious about
the last, I want to know like last
week. I want to know right now.
I want to know like last week. I want to know right now. Like I want to know these like two weeks.
How they're doing.
I'm really curious.
And how big is the ICO?
Do you know the valuations?
They haven't shared it yet.
So they're slow rolling the valuation.
I'm hoping this is a small one.
That would be awesome.
I would participate in something like this,
an app,
a consumer product at a low valuation.
So I'm really hoping that's where we're going.
My over under is a hundred million.
That's where I'm going to set the line.
I'm hoping for like 50 million.
I'm not going to lie.
I know they've done 90 million volume,
but it was like mostly that first weekend.
Remember like everybody was talking about him.
But yeah, over under is probably the line.
I'll take the under. How's that? Just a fun little
one.
I think this would be very interesting.
I think it would be a subscriber to 50.
Okay.
I like that.
Can we hear the protesters?
Yeah, it's going to be like this for an hour.
You can hear that. It's crazy. The microphone picks up on that. It's the protesters. Yeah, it's going to be like this for like an hour. Yeah, it's... You can hear that.
It's crazy the microphone picks up on that.
It's the outside.
All right, what else?
If anything, that's it.
That's it.
Let's give us some money.
It's really a fucking bear...
Okay, now we've reached bear market levels of show
because we have fucking nothing to talk about.
The main two topics from Tyler today were two ICOs.
High valuation.
And the market segment, although always insightful from the both of you,
was fucking boring because we're just wondering where direction we're going.
So while very insightful.
Game action this week.
I mean, Fart has a little bit of his run and I gave it back.
I gave it back. I gave it back.
This is a real one.
This is a real bad market fucking show.
I love it.
Oh, man. Alright, let's give some money away, man.
Oh, wait.
Our listeners are at Big
Moments 3.
Is that coming up?
Big Moments 3 will be
imminent, yeah. It's going to be starting, I think, next week. Let's go! Is that coming up? Big Moments 3 will be imminent.
It's going to be starting, I think, next week.
Let's go!
It's going to be a different format.
What is it?
No eliminations.
Oh, so no dice roll?
A league with head-to-heads.
So there's going to be prizes each week if you beat your head-to-head
as well as an overall league going for the whole month.
That's interesting.
Yeah.
Tyler D team, if you want to join.
Fuck you.
This is FOMO hour.
FOMO hour team.
I'm tag-jacking.
We've given out a lot, right?
Fuck me.
I've always been kind to this audience.
It feels like Tyler's got a bunch. We've got 30. I was kind to this audience. It was like,
I got a bunch.
We got 35. I got a bunch.
Rec Radio got a bunch.
Yeah.
Oh my God.
These people are going to be screaming all day.
Let's give some money away.
I want to play Omaha,
but the Christmas.
Well, we can do Omaha today.
Land shop tomorrow.
Like we can, you know, I'm do Omaha today. Land shop tomorrow.
I'm super down, though.
At least one holiday show, Amanda,
where we just fucking come on here and just yeet it. Later, though.
Later, shop.
I'll add some of my cash, too. I want to gamble with you.
Let's do it.
I'd love to.
All right. let's do it alright who is it I can't see
S.T. Michael Ark
that's a new one
Saint Michael
Saint Michael Ark is that what it is
is that how you read it
someone's on their Saint Michael Ark
oh there it is already Is that how you read it? Someone's on their St. Michael arc. Oh, there it is already. Wow, that was quick.
Jesus.
St. Michael
arc. St. Michael arc, yes.
Okay, let's go.
There you go, St. Michael.
Look at this. During the holidays,
St. Michael wins
on the FOMO hour.
Congratulations. So you already made
500 books. You're already made 500 books.
You are already up $500.
So we play Omaha.
Is that what we're doing?
I like Omaha a lot.
Let's do Omaha.
Dude.
It's a lot of fun.
I made like eight grand.
I mean, I made zero.
Wiz made eight grand. This is a game that I used to play with my friends growing up.
Like you play like a whole game of poker and at the end, everyone just fucking gamble it.
Oh, wait.
I'm on the wrong.
Yeah, I'm on the wrong. i'm on the wrong there you go um let's go slowly because i need at least something
may god bless you let's just close this person okay so we know the rules so how do you want to
regular how do we want to... Regular.
How do we want to give it to them here, guys?
What do I want to do?
Two hands?
Yeah.
That seems good.
Two hands.
Like this?
Like that?
Oh. What's the one card one card is if you win with one card okay hmm or we put it all on this
oh i like the 50 on flush and no there's too much here hold on so like this
yeah all right all right he's saying it's up to us. All right, let's go guys ready
So first hand you get two hands
Oh two pair are we ready? Okay, this is beatable. This is beatable
Let me zoom in for you guys. There you go. Okay, this is very beatable
Okay, nine ten Jack Queen. Okay. There you go. Okay, this is very beatable. Okay, 9, 10, Jack Queen. Okay, okay, okay, okay.
Boom! Bitches! Come on. We already won, that's for sure. Let's get Flusher better.
There you go. Nice. There you go. 392, so he's already made 892. Let's go. So we bet, right?
Same bet.
Let's go.
So he's got nothing.
We were starting off
an 88% chance of winning
already here.
We should win the hand.
We already won.
We got a pair of threes.
Can I get a flush here?
Can I get a flush here?
One more heart.
One more heart.
Oh, two pair though.
We win.
392.
Mendo, I like this game.
I'm going to start playing.
I'm going to start playing.
So wait, 392 times two, right?
So they made 794 plus.
So 1284, congratulations.
I hope you treat yourself or your family this Christmas.
How about this? Every winner this week made over 1200 bucks,
by the way,
this is a good week.
Every,
you know,
that pays for the Christmas.
That definitely pays for Christmas.
Congratulations.
Well,
boys,
I will see y'all tomorrow morning.
Same time,
same place.
Peace out.
Peace. Thank you.
