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FOMO HOUR: MARKET DUMP + JOINED BY WLFI/USD1 CO-FOUNDER
Recorded: Jan. 19, 2026 Duration: 1:05:00Space Recording
Short Summary
World Liberty Financial is making waves in the crypto space with the launch of its USD1 stablecoin, achieving a $3.4 billion market cap in just eight months. The company is also partnering with Myriad Markets to enhance prediction market transactions, while establishing a federally chartered bank to further integrate traditional finance with blockchain technology.
Full Transcription
The End Right. Check there we go and you're good to go Charlie Thank you. Yo, yo, yo, yo, yo, what up, what up?
Good morning, good morning, GMG.
What day is it?
Oh, well, it's Monday.
January
87th,
2026.
Look at that.
Another beautiful day to have a beautiful day.
I got my co-host in the house,
Tyler. Good morning.
How you doing today?
I've been better.
The whole city of Chicago, all of Chicago land, a bit hungover this morning. How you doing today? I've been better. The whole city of Chicago, all of Chicagoland, a bit hungover this morning.
Yeah.
A brutal Bears loss last night.
It's even harder the ones where we had to come back.
It looks like we have every chance to win.
The game is in our hands.
We blew it.
We blew it. It was a tough one.
Yeah, that sucked, dude.
This is the first time in my life I was
rooting for bear.
You know what I mean? I don't really
like those bears.
And you guys let me down.
And then
we checked on prices and the
crypto bears are winning.
It's all upside down.
It's upside down. It's upside down.
It's upside down.
It shouldn't happen like that.
You know, crypto bears are not meant to win.
But yesterday they took over.
I expected, I think, or not.
But we'll talk about this in a minute.
Today on the show, I'm actually typing out the thingy, the broadcast right now, sorry. Today
on the show is going to be a good one, actually. We got a two-fold show for y'all, another
banging guest on the show today. So we're going to be talking markets, we're going to
be talking news, of course, that we do every day. And then we'll be joined by Zach Fulkin,
who is the co-founder and COO of World Liberty 5 and USD1.
And, you know, we've announced some stuff with them last week,
but also they've been cooking.
Like that team, that team's been cooking.
I mean, neobanking is definitely one of the biggest, you know,
metas, whatever you want to call it, the cycle as well.
So we'll be talking about a lot of different things with Zach Fulkin.
And then once we're done with Zach, we'll be just giving some money away
like we do every single week.
So make sure that you follow us.
You should actually follow us on Kik
for the reason that when Twitter goes down
like it did last Friday,
you don't miss anything, right?
The Kik didn't go down on Friday,
which kind of sucked
because it was the entire hour of the show.
But shit happened.
So make sure you follow us on Kik.
Anyways, we give money to our Kik subscriber every week. So you kind of So make sure you follow us on Kik. Anyways, we give money
to our Kik subscriber
every week.
So you kind of want to
you should probably
follow us there.
Anyways, and with that
being said, well, Tyler,
we have no mantle this week.
He's basically
at the iGaming conference
working for our
YeetPack.
So that's not bad.
So we'll go straight to you.
Yeah, folks, crypto major is unfortunately quite red here this morning. We've got Bitcoin down 2%, 92,880.
ETH down more 3%, 3215 here at Live this morning.
Solana's down 6%, 133.50.
Woof.
It is a holiday weekend, so U.S. stock markets are not open.
The biggest macro news is over the weekend,
Trump threatened some fairly substantial tariffs on Europe,
effectively, if they don't greenlight the U.S. acquisition of Greenland.
So increasing escalation in this whole Greenland acquisition or project,
whatever you want to call it.
Markets didn't react immediately on the news,
but I guess when futures opened last night, that's finally when we got it.
So we had the red candles on Bitcoin, on ETH, on all the majors.
Some crypto alts got fairly blasted in this.
Gave back a lot of the recent gains.
Gold and silver are the winners once again,
again, which I think is also what's so frustrating about this.
which I think is also what's so frustrating about this.
Silver is at another, both at new all-time highs.
Silver is both at new all-time highs.
Yeah, gold 46.73 within striking distance of 5K
and looks pretty primed to reach 5K before ETH does.
And then silver's at 93.77, closing in on $100.
That's also in striking distance for silver.
Copper's up on the day, so is platinum.
So the metals are doing very well.
Stocks fell, stock futures fell.
They're down one or 2% fairly in line with crypto.
So crypto looks like it is moving with stocks versus your hedges,
which again is kind of what is frustrating here.
From a headline perspective outside of that,
that was really the major news.
It was more of a quiet weekend from a big headline perspective.
I guess the Clarity Act,
there's a little bit of back and forth between Eleanor Tourette
and Coinbase CEO Brian Armstrong.
Last week, Eleanor came out and said the White House
was withdrawing support on the back of Coinbase,
withdrawing support.
Brian came out and said,
no, no, no, that's not
exactly what is happening here. So we can go back into some of those details perhaps later on in the
show. This morning, we got news out of New York Stock Exchange. They are heavily leading into
tokenized stock trading. They're going to go 24-7 and with on-chain settlement. I don't know that we have any details on exactly where on-chain this is going to be.
Certainly, if it is EVM-based, that would be pretty bullish for ETH specifically.
But just the fact that it's coming on-chain seems like it is bullish for blockchains overall.
A lot to unpack from that move.
I'm sure we'll talk about it a little bit more.
Other than that, Claude Meta ended in a day.
We'll pull up the meme board.
That was a disgusting 24 to 48-hour cycle there,
which at least when I was skeptical on the show on Friday,
my skepticism did pay off at least fairly quickly.
And there are our old friends at Wallet Connect.
Shout out to them.
They had a huge announcement,
arguably one of the bigger announcements over the weekend.
They launched their Wallet Connect Pay Global
with Ingenico,
which effectively puts their stablecoin payments
in 40 million point-of-sale terminals
at stores at the cash out register around
the globe,
including huge players like Walmart and Costco.
So that was a big one from them.
But yeah,
looking back at prices,
not what we wanted to see,
right?
So Mando's not here,
but he did share some thoughts this morning on his ex.
He said,
he's talking typically,
he says his trade setup was at 3.3k,
3,300. The upside
in his view was
10 to 20% moved to 3,600, 4k.
Downside was
3,200. He says we're sitting at
that 3,200 level right now. If we
break down, I'm out.
So he's kind of
right on the line. I know one
of our quants
Bernie, Bernie Bottoms got stopped out it seems
and he might not be
exactly sure where to go
from here so it feels
like we are kind of right on the line
yeah it sucks
from the folks who are kind of trading the charts
terrible
so I guess my question for Mando, he's not here to answer it. So what is the
breakdown? It's 3150?
I think it's... Where do you cut?
Well, if you follow the trend line...
Well, he cuts under
3200. That's what he's talking about.
You break down below 32.
That was the line in the sand.
Bitcoin was 94, as a matter of fact.
And that's what Mando said last week, but that's also
something that's seen around.
If you look at the line we set on Bitcoin a while ago on the show,
I'm not changing it.
I'm just extending.
I'm not moving the line.
Sorry, it was like this.
It was actually like this.
It kind of bounced right on it.
This trend line.
And on Ethereum, this is also one we had.
I mean, it's not good, right?
This sucks.
That was actually like, that really sucked, man.
Because it feels like everything was looking towards the upwards.
Which, by the way, still isn't like that bad, right?
As long as we don't break below here.
But this sentiment
shift from this new tariff headline,
you can notice it right away.
I feel it.
I feel like I'm the opposite side.
At all.
This is not just permeable.
I feel like
the markets
know Trump at this point, right?
It really just feels like negotiation tactics. I feel like the markets know Trump at this point, right? And it's like this,
it really just feels like negotiation tactics.
Like, are we really going to lever these new tariffs?
But again, gold and silver just higher and Bitcoin,
like Bitcoin is like arguably dragging the market down.
Like if anything, Ethereum doesn't look bad.
Bitcoin just keeps dragging the rest down here, right?
Like a lot of stuff was good again yesterday, right?
Once again, like waking up to gold lot of stuff was good again yesterday, right? Once again,
waking up to gold all-time high
and Bitcoin wrecked, I'm just like, fuck, you know?
Yeah, Bitcoin was 95-6,
which is kind of like the key level
in a lot of the TA folks saying
you don't want to close
below there. So I think this
week is interesting. But at the same time,
I said this yesterday.
I won't be surprised if we do a reverse part on this move.
I think you're right.
It was a low liquidity
weekend. You're right.
Traditional markets aren't open yet.
Let's see.
I want to see how markets
really react to this. So this article by the
Kobesi letter,
it's funny, I read it a few days ago.
I was like, oh yeah, that's going to play out and I didn't position as such.
You know yesterday when we retested 3370 or something,
I was like, I'm closing this here and I did not
and that really hurt me.
But that playbook played out.
Their playbook is quite simple
and we're about stage six here,
which is first like you know on
the weekends doubles downs on tariffs blah blah you get a reply over the weekend which happened
from europe targeting the u.s with 100 million years over those tariffs on sunday evenings
futures open you puke literally what happened literally to the like t what happened monday
tuesday this is where we're at today. Weird day today because markets are closed, right?
You know, but this is what's going on right now.
Like he's actually getting more aggressive
on Norway, et cetera.
Literally word for word what's happening right now.
On Monday and Tuesday,
President Trump continues applying pressure publicly,
but investors begin to recognize
that the tariffs are not yet live
and are still scheduled to take effect weeks later,
which by the way is like later, right?
And then by Wednesday, which is the way is like later, right?
And then by Wednesday,
which is literally what you're just saying,
of the same week,
dip buyers step in and spark a relief rally,
but this move often fades
and leads to another push lower.
This is typically where
smart money buys in.
On the following weekend, blah, blah.
So like,
usually you want to give it
an entire week, you know?
I'm going to be waiting.
I do not like the structure break
on Bitcoin.
How does this...
I haven't read this.
Where does this end?
On Sunday evening of that weekend,
futures opened sharply higher as optimism returns.
So basically, it's like the weekend,
things start getting better.
They're working towards a solution this coming weekend.
Sunday, futures opened higher.
So I guess your signal would be Sunday's futures again.
And then after Monday opened,
senior administration officials,
such as Treasury Secretary Besant,
appear on live television to reassure investors
and emphasize progress towards a deal.
Over the next two to four weeks,
various members of the Trump administration
continue to tease towards progress.
A trade deal is announced.
Repeat step one.
That playbook has worked so far.
My only curveball here is that this time,
this playbook is over land and over what trump is
posing as national security and over the weekend you had best go on live television and explain
why the usa does need greenland and by the way like this is not me disagreeing or agreeing i
actually think they make good points uh especially with canada now getting closer to like china
qatar etc which clearly they're teasing so there's a whole political thing going on here we're all especially with Canada now getting closer to like China, Qatar, etc., which
clearly they're teasing. So there's a whole political thing
going on here. We're all political show, but you can see that's
kind of what's going on geopolitics. And politics
helps us understand the market better.
So I don't know this time, dude.
They're pretty serious
about this Greenland thing.
Yeah, I think they're serious.
Could this
play out in two to four weeks? I think that part, yeah, I could see it play out in two to four weeks I think that part
yeah I could see it playing out in two to four weeks
I think my view is the timeline
has shrunk so like last year was like a
longer great deal
year right he doesn't
have that much time this year with the midterms
coming up and
he has to have
the market in good shape
to have any shot in the midterms.
He knows that.
I feel like this will be resolved sooner than later.
But that was an interesting post.
I generally agree that that is how it will play out.
The deal will get done and we'll see the rally.
I read that post over the weekend.
I was like, oh, that's nice.
And Big One was like 95K, 95K. I was like, oh, that's nice. And Big One was like 95K, 95K, I forgot.
I was like, oh, yeah, it's going to play out.
And I'm here, like, not moving on anything.
Classic, but here I'll send you so you have it.
But it's usually a good one in terms of, like, the playbook for these terrorists.
He did wake up, and it kind of plays out.
Like, Saturday, France and Cole answered.
Today he woke up, and he was pretty pissed about it, which I get it.
I saw the
president of Italy, Georgia Maloney, come out saying like, this is all miscommunication.
And that there was actually the talks over Greenland were actually going pretty well
with these European countries. And that this shouldn't have happened because she's kind
of in between saying like, yo, like, you know, both president Trump and the rest were talking.
I don't know if you noticed this time, but he probably did. He's only sanctioned eight
countries. So now there's like this divide almost
within Europe and EU countries.
Like, okay, wait,
not everybody's sanctioned.
So I wonder what playbook
they're going for this time,
but it definitely seems like
a divide to conquer type of thing.
The other wild card in all this
that we haven't touched on is Iran.
And that's happening as well.
For extra markets,
have US trekking Iran at 75% by January 31st.
Whoa.
That's 12 days.
Is that also a way to deflect
from what's going on around
and maybe go there?
You don't know either, right?
Yeah, it's not helping.
And the situation is actually getting worse every day.
Right.
So the death count is...
You know how many they said
that they were not going to execute those protesters in order those protesters in order to like appease to Trump.
They actually executed them.
they injected them in prison.
So it's not great.
so everything Trump told them not to do and we'll bomb you if you do it,
they did it.
So not great in terms like now that I'm listening to myself,
it's not great into his market, that I'm listening to myself, it's not great in terms of market styler.
I was really excited last week.
Yeah, so
it is
a volatile period
to say the least.
I think bringing this back to the
coins, it feels like it's like a chop period,
right? Until we see some resolution
on a few of these, right?
That's kind of my read,
I think they're more likely to resolve
to positive than negative, I guess,
is my general view,
which would be why I still think we end up going higher.
Look,
the dots are buying. We'll see what the flows are
ETFs today and this coming week.
Let's see how the markets react.
But again, what I didn't like is last night I wake up to pee overnight.
It's like 5 a.m. and I'm watching the markets.
It's nukes.
And then I see gold and silver all-time highs.
And my first reaction to that, Tyler, is like, fuck, here we go again.
And copper is going to run again.
Natural gases are running as we speak.
Uranium, all these things.
And we have a good old Bitcoin.
And so all these different things don't help the case,
in my opinion, for our digital dollars.
Yeah, it's not playing out as the hedge, unfortunately.
But I went there with the stats.
I mean, that's another headline.
So Sale is teasing bigger orange bubbles,
which means bigger buys last week.
I mean, it's pros and cons.
I mean, a bigger buy, good,
but the price is lower now than where he would have bought.
So I think that's the reality.
But then the other aspect of this is he's getting these funds from Stretch.
Got it.
STRC, which has maintained that $100 peg.
And effectively, the more that he's able to sell at that level, the more funds he has to buy Bitcoin.
I tweeted about this last week.
There's now a new protocol who is spinning up a stable coin
at 11% yield,
effectively buying stretch
and then passing that yield on to their coin.
I'm not touting that as a coin,
but I'm sharing it as an example
of a new protocol you are building
on top of, say,
financial primitives here.
It feels like it's in the early stages
that it does feel like a big capital unlock
for him.
So I think Saylor's going to have
plenty of ammo this year,
I guess is where we're going.
But that's of cash.
Tom Lee's got hundreds of millions of dollars.
He's chilling, right?
On the Ethereum side.
That's of money.
Speaking of treasuries, et cetera,
Tyler, I don't know if you mentioned this this weekend, you may have.
Steak and Shake, look at that, Steak and Shake. Eight months ago today, Steak and Shake announced
and launched its burger to Bitcoin transformation and started accepting Bitcoin payments.
and started accepting Bitcoin payments.
And they've managed to dramatically,
and that's per them on their announcement,
improve their same store sales.
Their Bitcoin has gone into a strategic Bitcoin reserve
and then they increased their notional exposure
to $10 million.
I mean, who would have thought?
This is the SBR.
We would have gone the entire time.
Favorite fast food chain.
They are accepting Bitcoin payments.
They're saying it's helping them grow.
We'll take them at their word.
$10 million into Bitcoin.
Not bad.
They added, right?
I don't know how much they had,
but they've increased exposure by $10 million.
Look at that.
Steak and shake, baby.
Steak and shake.
I've never had it.
Is it good?
How does it rank compared to the rest?
Because they have steak burgers
versus more of your traditional burger.
And they got really good fries.
This was a popular chain where I grew up.
And they have like the
diner set up versus
a traditional fast food place.
So it's a fun place to go when you're
a kid. So love Steak and Shake.
Love to see their
Bitcoin arc here.
Hope it continues. The others will
follow in their footsteps.
I love that. We do have still some time, Tyler.
There's a few interesting...
Oh, the Coinbase thing I thought was interesting.
You had Brian Armstrong and Eleanor Tourette
going back and forth on a Saturday afternoon, evening.
Yeah, so Eleanor came out with a scoop in her words.
And she said,
the White House considered pulling its support
for crypto market structure bill entirely
if Coinbase does not come back to the table
with a yield agreement that satisfies
the banks and gets everyone
to a deal. She's citing a source
close to the Trump administration.
They also said
that the White House is
furious with Coinbase's unilateral action.
She kind of painted this
as Coinbase versus the White House
so to speak.
And then Brian came out and said, no,
this is not accurate. White House is super
constructive.
Then he ends up pointing
to community banks, which
that kind of surprised me a little bit. We've been cooking up some good ideas
on how we can help community banks specifically
in this bill, since that's what
this is about.
So then they went back and forth.
Then Eleanor actually doubled down and said, no, I was right.
And then Brian responded to her with that visual of the elephant and saying,
you don't know the truth.
Picture basically.
Yeah.
He kind of like, you can't like, that's a kind of a that's a hey
you know
well they got a lot of engagement on both the tweets
the blind and the elephant
we're journalists
adjacent via decrypt
I feel like both things
can be true I mean I think Eleanor
could be posting from an actual source
that she has
but at the same time I think you have to realize posting from an actual source that she has. But at the same
time, I think you have to realize sometimes as a journalist
that you still may not have the
full context of everything that's
happening. I mean, she's not in the room negotiating,
but she does do some...
She's a friend, by the way, so does do some
great reporting.
The answer is probably somewhere in between the two of them,
Tyler. It's not like you and I know better.
Right. We don't know. We don, Tyler. It's not like you and I know better. Right.
We don't know.
We don't know.
We don't know who's right.
It's confusing when you have like, like we said last week, so we don't need to talk about it again. But when you have a part of the industries that's like very pro and the other part that's like, yo, like, you know, we don't like that.
It was the Galaxy.
Who's the Galaxy founder again?
I'm blanking
oh my god
Novogratz
Novogratz actually talked about it
on national television
and he is saying like the banks
he kind of like
he explained a little bit about what's going on
over here and,
and gave more color on,
on why there's this back and forth.
So I don't have the clip anymore.
I sent it to you guys over the,
like,
I think it was Friday or something,
but it's we're not out of it yet.
Like this is not...
The prediction markets have this at 43%
to pass this year.
I think that's fair.
I think...
That makes sense.
Kind of like mid...
We're a coin flood.
It's a low liquidity market, the one I'm looking at.
So you got to take it out of the bank.
But we went from being close
to now it feels like
we are not
as close.
They're talking about here.
This is where the bill
is really stuck.
Mike Novogratz
was pretty blunt.
But what's slowing down
the crypto market?
He says both parties
want the bill.
So that's not a problem
of like Democrat
or Republican.
The real friction
is the banks, which is very similar to what Brian Armstrong is talking about. So that's not a problem of like Democrat or Republican. The real friction is the banks,
which is very similar to what Brian Armstrong is talking about.
And it's around stable coins mostly.
So it's about the deposits, the fees, et cetera.
Stable coins threaten that earning,
the three and a half to 4% parking earning apparently.
So if consumers can earn yield elsewhere,
deposits move and banks may make less.
So that's kind of what it's about.
And this is what Brian was saying, right?
Yeah.
I thought the carve-outs were enough.
Maybe the carve-outs are not enough.
I guess that's why I was less concerned about that aspect.
And that's what all the big guys were saying.
It's all tied to the...
So this is from Novogratz on CNBC.
You guys can check it out if you're curious about what's going on here. So this is from Novogratz on CNBC.
You guys can check it out if you're curious about what's going on here.
But it seems like we're stuck.
Was it between a rock and a wall or something?
What's the saying?
We're kind of stuck in this position. And, you know, the banks don't have our best interests at all.
Let's be honest.
So they haven't,
at least historically.
So let's,
let's take this picture with a grain of salt when picking a side and let's pick
the side of crypto and see what goes down over here.
All right.
What else?
You said Claude.
So you have a,
you have a funny new sector, the Claude coins. I saw Art Shake quote tweet you.
Yeah. So I created a dashboard. I woke up Friday. All this whole set of coins were just going absolutely parabolic. So I set up a watch list and then they're all down 70% the next day.
a watch list and then they're all down 70% the next day.
So basically we talked a little bit about this on Friday.
The Claude meta was effectively these AI devs who are building projects via
Claude and then via,
I guess what's the,
what's the name?
I'm blanking on the name of the platform.
Bags. Bags.
Bags, yeah.
The Bags app, you can create coins for people and then send them to them.
And then if they embrace them, the coins jump.
It all kind of went off when Steve Yegg from the gas token kind of leaned into his and he wrote a whole essay.
So we saw a lot of coins pump. And then kind of one by one, the leaders of these projects
started distancing themselves from the token.
And seemingly Steve even kind of did the same thing just a few days
after coining that essay, which I thought was a little surprising. So gas token
is down 89% on the day. You don't see that number too often.
It is at 1.4 million.
This thing hits 60 million.
It's basically minus 50% to 70% across the board.
The trophy tomato is hanging out at 18 million.
It seems to be one of the remaining.
It's the leader, I guess, in this sector.
But that meta looks... I don't know if i can say the whole meta is over i think that bags meta specifically is over uh but then in the chat
intern was sending us there's this new launch pad well token is surge and they're claiming to have a
new way to do this which is better i've not had a chance to really dig in and do diligence on that, but the surge token is
up 40%. It's at
$70 million, $140 million
FDV. So there's
some capital behind it.
Of course, DYOR,
I'm not totally convinced.
Like I said on Friday, I thought this was
ICM2, AICM. You did.
And I think
the market has been some matured to a degree.
Yeah.
It came and went fairly quickly.
And then we had the Trove weekend where they effectively pivoted their whole business model from being RWA.
Perps on hype.
Now they're moving to Solana.
So stupid.
A lot of undisclosed ads out there.
That was a rough story.
On brighter news, pump fun two-year anniversary today.
Alan, if you're listening, are we going to...
Alan.
His bags competition
once again came
out the door, so pump back in the
driver's seat.
It's always the same thing,
isn't it?
And I see Zach and us too.
I'll get to exactly 10 seconds,
but it's always the same thing,
Tyler.
It always goes back.
Like there's,
it's like,
it's crazy.
It's crazy.
And regarding the trove thing,
I'm actually really happy.
This thing's not launching on Hyperliquid.
Like Hyperliquid is such a good product.
It would suck to have it tarnished like that so it is what it is but good i think
it's better for the long term of hyper liquid not to have drama these things on our platform you know
yeah so then we didn't quickly hit uh xmr we saw one of the reasons it popped. There was a $200 million crypto theft in the FIFA converting the tokens into XMR.
That bounced pretty well overnight, though.
But yeah, it continues to be strong.
I mean, it's continuing to outperform Zcash substantially.
It's like $620 to $370 or so.
So we're still in the privacy driver's seat.
Privacy driver's seat.
Damn right.
Well, time for a big interview today.
I want to see some retweets.
Please, folks, if you're listening to the show, make sure to show some love.
Rebroadcast the show Monday to Friday, 10 a.m. Eastern Standard Time.
I've pinned it to Twitter spaces.
It's on Tyler's page.
It's on my page.
It's on FOMO's page.
If y'all want to retweet, show some love to the show.
We got the man himself, Zach Folkman,
co-founder and COO of World Liberty 5.
How you doing, Zach?
What's up, boys?
I'm good.
I'm good.
How about you?
We're good.
We're good.
How was Pakistan?
You were just, you're everywhere, Zach.
Like, obviously, we're homies.
I talk to you here and there.
Every time I talk to you, you're somewhere.
Yeah, Pakistan was great.
We were in Abu Dhabi for a couple of days.
We were in Pakistan for a day, you know, just bringing USD1 worldwide over here.
Wow.
I love that.
And we'll talk about that in a minute here.
Zach, we got obviously some questions for you.
Obviously, we finally managed to launch what you and I have been talking about for a minute.
I know.
I know. Congratulations. We're definitely excited to power Myriad Market
transaction settlement. Obviously, the prediction market space has been absolutely crazy, but I think
where we're standing with prediction markets in 2025, beginning of 2026, is the equivalent to 2013, 2014 with Coinbase. So I think prediction
markets are only going to continue to grow. We're really excited about the partnership between World
Liberty and USD1 and Myriad. And yeah, looking forward to settling a ton of transactions for you
guys fast and cheap and efficiently. Oh yeah. This is going to be a really good one i believe
we're the first prediction market to adopt stablecoin usd1 and so it'll be nice to increase
that liquidity you know better pools etc and uh and this is just the tip of the iceberg that we
announced last week as you may have seen uh on on the timeline we're gonna have a lot more uh coming
up uh with usd1 on BNB, etc.
So extremely excited to bring USD1 to our platform.
Just to take it back a little bit, and then we've got some questions ready for you with Tyler, Zach.
USD1, Liberty Fire, absolutely crushing it.
You guys are everywhere.
And it's actually been up only for you guys in terms of growth.
But quickly, Zach, maybe a little quick intro, reintroduction for the show, and then let's dive into it.
Yeah, absolutely.
I'm Zach Falkman.
I am one of the co-founders and the chief operating officer of World Liberty Financial.
For those of you who don't know us, which I would be pretty surprised if there are that many people know, we're one of the fastest growing crypto projects of all time.
And, you know, we released last October our governance token, WLFI, which serves as the governance layer for the entire world liberty ecosystem.
After that, we rolled out USD1, our stable coin that is built to be fully compliant with the Genius Act as those regulations get handed down and adopted.
USD one, I believe it's been live for about seven, seven months, maybe eight months.
And in that time, we've already grown to three point four billion dollar market cap, which makes us the fastest growing stable coin of all time.
And, you know, the way we see it, we're just getting started. We just rolled
out Liberty Markets, which is essentially our borrow and lend platform powered by Dolomite,
which allows people holding USD1 and World Liberty Phi to have additional utility for those
tokens. We've already seen that explode to, I believe, about $150 million worth of supplied assets in less than a week.
Or I guess maybe about a week.
I think it went live on last Monday.
The adoption and the usage of that market is going up as well.
I believe that we're at like $30 or $35 million in loans.
Wow.
And yeah, I mean, it's taken off a lot quicker than we anticipated,
to be honest. I mean, we knew it would be successful. We knew that it would have a lot
of value, but we didn't realize just how much usage it would get out the gate. So,
and again, this is just all in about a year, year and a half that we've managed to do all this. So
while we have a lot more to do and, you know, the entire team works very hard seven days a week over here from the co-founders down to, you know, the everybody on
the team below us. I think we've been able to achieve in a year and a half more than a lot of
crypto projects have achieved in three, four years. And I think for us, the biggest focus is just on shipping and building products that we know have massive use and a lot of utility behind them.
If it doesn't have use and utility and the potential for growth, it's not something that we're interested in.
So I think by focusing on those first principles, we've been able to be very successful and we hope that we will be very successful for decades to come.
Love that.
You are a growth machine.
You just laid out the stats there. It's hard to argue with that. I guess maybe stepping back just a little bit, how would you describe what World Liberty Fi is at the highest level?
Trying to wrap their heads around it. Yeah. So World Liberty Financial is setting out to build the future of finance.
We all have we've been saying it since long before the New York Stock Exchange was saying it and long before Jamie Dimon was saying it and long before the head of the SEC was saying it.
The future of finance will be on chain.
And so everything we're building is the foundation and the tools that will be needed to bring finance on chain.
So that's why the first important piece was the WLFI token to create governance.
The second piece that we built was USD1, which is our digital dollar stablecoin, which creates the asset that you need to be able to trade and transact through TradFi products and TradFi
services. Then we rolled out our lend and borrow market to allow for liquidity and utility of these
stablecoins. Next, we have RWAs coming. We have a bunch of big announcements coming next month
that everyone's going to be pretty excited about. And just focusing on adoption
of USD1 everywhere, whether it's settling transactions on prediction markets like Myriad,
whether it's becoming an asset that people are using on gaming platforms. We're going live with
a lot of gaming platforms as well. Being able to spend it at point of sale, being used for the largest stablecoin investment of all time,
which we were used for a sovereign wealth fund when they invested $2 billion into Binance.
So really, the whole goal here is just to move finance on chain because it's faster, cheaper, more transparent,
and just a better experience for both sides of the users.
And so that's really what we're building here.
And we will continue to build for the next several decades
until everything is on chain
and World Liberty sits at the center of all of it.
Wow.
Big vision.
Love to hear it.
And so, I mean, you mentioned you are focused
on shipping and growing products.
I guess, what would you say your core focus is right now, January 26th?
Is it USD1 growth?
Like what would be your number one?
Well, I think we're at a point now where USD1 growth leads into the other products that we're building.
So the deeper liquidity that we create on USD1, the more use cases, the more network effect,
and the more it just kind of flows into the other products that are either live like markets or will be live in the next few months. So I think USD1's growth will always be a major focus for us because until USD1 is accepted everywhere that the US dollar is accepted, our mission is not done yet.
everywhere that the U.S. dollar is accepted. Our mission is not done yet. We don't view other
stablecoins as our competition. We just view the U.S. fiat dollar as our competition. So
that just means more integrations, more use cases, more utility, and more acceptance worldwide.
So that will always be a big focus for us, and that will never change.
But at the same time, you have to have one eye on today as well as one eye on tomorrow.
And so in addition to growing USD1, we're also very focused on growing markets, which
just went live on Monday, as well as how markets fits into our overall ecosystem, like the
World Liberty Financial app that we'll be releasing shortly, how it will facilitate interesting opportunities for different funds
that want to be able to create better yield on stablecoin investments,
different DeFi opportunities.
So it's just going to be about continuing to grow, integrating RWAs.
There's a lot that's going on, and these aren't things that are, you know,
coming someday in the distant future.
I mean, these are things that are going to be coming some within the next few weeks.
That's awesome.
Paying this whole picture, I mean, it sounds like Rollerify also could be coined as like in the NeoBank trend.
I'm curious, like, do you see Rollerify as a NeoBank and like part two, perhaps like curious, do you see World Liberty FI as a neobank?
And like part two, perhaps I'm curious for your thoughts on this new growth sector and project class here.
Yeah, well, you know, we created World Liberty Trust Co., which is which has already applied for an OCC charter.
charter. So we are moving in the direction of having an entity that's chartered federally as
a limited trust chartered bank so that we can issue our stablecoin directly, as well as custody
assets and do some of the other services related to the stablecoin issuance and redemption.
We believe that by combining that with some really, really strong technology, we'll be able to facilitate easier, less friction money coming on chain and more institutions, more family offices, more consumers to be able to get access to USD1 and actually start to opt for USD1 over other, not just stable coins, but other means of payment like SWIFT or ACH payments.
Very good. I'm curious. I'm sure you and the team are following the progress or lack thereof
with the Clarity Act. I guess, what are your thoughts on that and how big of a hurdle is like u.s regulation how has that been yeah well i
think uh you know i think the the first and foremost thing is you know we have to really
uh applaud the efforts of this administration to get the genius act passed previously i think the
genius act was something that was absolutely critical not not just for our company, but for the entire space
to have clear rules and regulations around stablecoin issuance and redemption. It basically
puts a big valid stamp on everything that's being built, whether it's at World Liberty or Circle or
PayPal or any of these other compliant issued stable coins, everybody understands that a digital
dollar is important to the growth of the world economy and it's good for America. So passing
the Genius Act, I think was really, really an important first step. I think with the Clarity,
I think the Clarity Act, you know, there are some difference of opinions. There's some people that
want to see it one way, some people that are very much difference of opinions. There's some people that want to see
it one way, some people that are very much opposed to that. And then some people coming down right
on the middle and just want to see anything get passed. So, you know, I personally, I don't really
have too much, like too strong of an opinion on one way or another. I think in general, making sure
that it's a crypto first legislation and not just like the banks lobbying to kind of keep crypto out so that they can continue a stranglehold on the financial system that they've had for so long and has really been to the detriment of the American people and the people globally.
So if that means that, you know, it has to wait and be redesigned because those, you know, bank special interests are industry are clear rules of the road. What can we
and can't we do and do it in a way that's fair and moves the industry forward, not something that,
you know, hamstrings the industry because it's to the detriment of outdated financial institutions.
I think that's what people don't realize, Zach, in the backend. It's like,
there's so much lobbying going on out in D.C. on every end.
And then it becomes kind of this entire thing.
And it's very hard to get things passed.
So that Genius Act passing already was massive.
And we can only hope that it's kind of in line with what you and I were saying, Tyler, before Zach came, right?
Like we want to make sure that it's not just the banks taking advantage of this over the people again.
Yeah, exactly. just the banks taking advantage of this over the people again yeah exactly i mean you know the
promise of crypto is to democratize and make financials products and systems more accessible
to everyone around the world if this bill is a step backward for those i for that ideology and
those goals then it's not you know it's not really a good bill. So as long as, you know,
the people in crypto that have a strong voice and strong lobbying efforts
continue to remain very firm on what they want to see and what they're not
willing to accept, I think we'll be okay with the final bill as it gets passed.
And hopefully it does get passed.
Absolutely. I think as we think about teams like World Liberty Phi
and building out effectively alternatives to traditional banking,
I think one thing that traditional banks still have for most Americans is trust.
How do you view or think about building trust
as still a somewhat new entrant to this case and trying to win over
users? I mean, I think if people understood how the banks actually function, they wouldn't trust
them for very long. So I think at the end of the day, it's just about educating them. So for example,
if you think about the average American who puts, you know, a thousand dollars into their savings
account and they're earning a quarter of a percent interest every single, you know, or they earn a quarter of a percent interest
every quarter.
And what the bank is doing is they're not even keeping the money in the bank.
They're turning out and lending 10 to 1 what's been deposited into their bank.
And that's why you see those situations like, you know, like when there's a bank run or when there's a bank collapse or failure like we've seen in the past, like Silvergate.
People try to go to the bank and they try to get their money out, but the money's not there.
Now, if you look at that on the flip side with a genius compliance stablecoin, what we do is very different for every single usd1 that gets issued there's a one dollar equivalent
of cash or a t-bill cash equivalent that sits in a bankruptcy remote structure so what that and
there's no lending whatsoever we don't lend 10 to 1 like the banks we don't lend five to one not two
to one not one to one if somebody purchases or mints a USD one coin, there is one dollar at least backing it up.
And so what that means is we were sitting at, let's just call it three point four billion dollar market cap today of USD one.
If tomorrow three point four billion USD one tokens came back to get redeemed. Every single one of those would get redeemed for
$1 exactly, which is something that we can handle because of the way that we custody the assets and
keep them in a bankruptcy remote structure, but we'd never lend against. The banks could never
facilitate that. That sort of a bank run would absolutely shut down a bank. They'd be looking
to the FDIC to protect them,
and the entire bank would collapse, which we've seen time and time again.
So I think, back to your question, which I think is a great question,
it's more about educating people what is actually happening with their money
and who's actually profiting off of it versus just having to build trust
where it doesn't exist. I think if people were very
clearly explained what the traditional financial institution has been built to do, which is to make
a very few select people wealthy versus what crypto and DeFi is aiming to do, which is make
these same tools accessible and benefit everyone at large, I think that it would be a very quick shift.
So that education is something that we're going to be focusing on very much
once we have our OCC charter approved and we become operational.
Yeah, well, that makes a lot of sense.
I think for crypto natives, a lot of us have already kind of drank that Kool-Aid.
I think it is for the folks who are perhaps still in the traditional
world but it's uh once you hear it you can you can drink it uh pretty fast yeah um you know i'm
curious maybe just you know as you mentioned some of the products you've been building and i want to
talk about roadmap also here in a second i'm curious like are there any crypto projects that
that came before that that you and the team have drawn inspiration from?
Like they've done this really well or actually they didn't do this that well.
This is where we can improve. I'm curious if there's anything out there that you could point to.
Yeah, I mean, I've been in crypto for over 10 years now.
And so I've basically seen everything from Bitcoin and Ethereum through DeFi summer, through the NFT
craze and crash. And I think one of the biggest things that's been a theme that's played out
this entire time is just that, but first off, crypto is phenomenal. Bitcoin's phenomenal.
Ethereum is phenomenal. A lot of the protocols in DeFi that came and went and some
which have stood the test of time are phenomenal. The biggest issue that I see is that it's not the
technology that's broken. It's the usability, the UI, UX, and the explanation of what's in it for
the end consumer. And so if you abstract away a lot of the difficult aspects of crypto,
things like having to use a browser extension for your wallet, things like having to approve and
then sign transactions every time you want to take one action, it takes two to four actions.
All of these things just create friction points that make adoption much more difficult.
All of these things just create friction points that make adoption much more difficult.
So one of the things that we're really focused on is at every point that we can do it, removing the friction,
whether it's mint redemption fees on USD1 so that dollars can flow in and out of the digital system easier,
whether it's removing the need to sign and approve transactions in multiple steps through a series of paymasters and relayers
or whatever it might be, wherever we can abstract away friction points, the better the adoption
will be and the better the user experience is going to be. Because I have friends that if you
have to click two buttons when you order on Amazon instead of one, they're not going to go through with the purchase, right? I give up.
Yeah, exactly.
If that's the case with Amazon,
imagine when you're trying to adopt a new type of technology
that's a little bit scary, a little bit confusing.
We need to meet the customers where they're at,
which is a Web 2 customer,
not a Web 3 customer for real adoption.
Yeah, I agree.
There's still way too many button clicks.
But I do,
I am,
I do feel like we're moving in the right direction that we're going to get
past those in the near future.
I'm curious.
You mentioned through the,
our discussion here,
some of the projects you guys have just rolled out.
I'm curious,
anything on the roadmap that you are excited about,
you know,
across the next six,
he's smiling. He can't tell his shit.
I came on here to talk about Myriad and USD1, so I can't give away too much. We have a lot of
big things that are going to be announced even this week that I don't want to give anything
away too soon. But for everyone that wants to stay in touch, check out
our Twitter at World Liberty Fi. Yeah, all communications will be, you know, announced on
our official X account. There will be, I believe, we have, so I mean, we have new integrations and
partnerships, I believe some are even going live today. I mean, we're kind of in that phase where it's just constant growth, constant partner integrations.
I think we had an announcement almost one every day for the last several weeks. We have a couple
big announcements on things that we're putting together that should be pretty interesting and
shake the space up a little bit. Definitely bring a lot of attention to the space.
And yeah, I mean, I'm excited.
There's not one thing in particular that we're doing that I'm more excited for
because we have such a monumental challenge
of trying to bring finance on chain
that everything we do is new.
Everything we do is exciting
and everything we do just gets me
and the rest of the team out of bed
or keeps us from going to bed in the first place
and just working hard on this collective vision that we have.
Yeah, absolutely.
Maybe last question for you, Zach, and I really appreciate your time.
Five years down the road, 2030, 2031, you're looking back and Royal Liberty 5 was successful.
What does that mean?
What does that look like?
What will you have accomplished?
Yeah, I mean, I think, I don't think it's about a destination. I think it'll be about
constant growth. So if we're talking five years down the line, it'll be the exact same thing we're
talking about today, which is, you know, more users adopting USD1, more places where USD1 is
getting, you know, used and growing. It's constantly innovating and building financial
products that serve people better
and help, you know, grow the entire ecosystem, bring more finance on chain.
I mean, we have such a large vision that even though we've been able to do so much so quickly,
um, that other teams haven't even been able to do a fraction of what we've done, we won't
be done with the mission in five years.
It'll just be continued growth, continue adoption, and continuously bringing on more Web2 users into Web3 finance.
Love to hear it. Well, Zach, this has been incredible. I appreciate all the insight.
Absolutely. Thank you guys so much for having us, or I guess for having me,
but us as a team. And we really appreciate what you guys are doing. Love the show.
Every time we get to connect, we always have a good time.
And congratulations on Myriad Markets going live with USD1.
Thank you very much, Zach.
Appreciate you for coming, always.
Awesome.
Thanks, guys.
Have a good one.
Ciao.
Well, that was great.
Love, Zach.
Big fan of what they're doing.
Just to recap a little bit on the Myriad side.
Obviously, we started with that, and I don't need to go over it too much.
I think it was good to get a quick little interview
out of Zach.
But last week we announced that Myriad Markets
became the first prediction market
to support USD1 as the exclusive settlement asset
with the launch of our Canel 6 product.
So you may ask, what is this Canel 6 product?
You should definitely check it out.
It is pinned on Myriad Markets' page. And I'll let you guys look at this.
Basically, all of these markets settle instantly in USD1. They are awesome. And you can basically
predict what the next five-minute candle will be as well, whether green or red. And it's actually
a really cool product, Tyler. I don't know if you had the time to play around with it. I think
you've played with the candles before, maybe the last version of it, but this one is awesome, man.
Looks fun. I'm about to play around with this.
You can do Bitcoin. The graphics are nice too, right? The whole thing. Look at this. It unlocks
every five minutes and you're able to see more green or more red. And it's just so much fun.
You can claim quick and resolve instantly. You can do Bitcoin, Ethereum, BNB, Zcash, and Pengu.
Look at that.
And it all settles on USD1.
And you can definitely expect more coming from us.
A couple of words from Zach Witkoff, who is also a co-founder in World Liberty 5,
saying,
Myriad's integration of USD1 expands the real-world utility of stable dollar-backed digital assets
in emerging on-chain markets. integration of usd1 expands the real world utility of stable dollar-backed digital assets on emerging
in emerging on-chain markets prediction markets are a growing category within decentralized finance
and this integration introduces usd1 into an environment with where transparency
stability and user trust are essential so you can expect more uh this is just the tip of the
iceberg for what we've got coming up with USD1 on a product level.
I really like the way they're growing, man. I mean, I think Zach spoke very well on the show.
And you'll notice their volume is really big, specifically on BNB. So you can see all the strategic moves that we made, et cetera, in our partnership with BNB as well here. So
it's an exciting time. And I think it's pretty cool that they're this deep.
I don't think anybody would have bet that they'd be this big at this time right now.
Yeah, incredible growth.
Hard to argue with it.
They are definitely crushing it.
All right, well, this was good.
Should we get some money away?
Let's do it.
Let's do it.
So two winners today.
One because of Friday.
You know, Yeet, you know, our partners, our sponsors over at Yeet,
they have rules, guys.
And if you game the rules, then, you know,
they have a system in the back end that allows them to see who's gaming,
who's not gaming, et cetera.
And if our partners tell us that, you know, this person that won was gaming the system,
that we have to listen to them.
It's plain and simple.
And that means that the win is not eligible.
So don't try to game it, guys.
Because Yeet is pretty uptight with that stuff.
So yeah.
So what are we doing, Tara?
Is the winner just winning last week's money or are they just playing again? Let's just play again. Fuck it. So, yeah. So, what are we doing? Is the winner just winning last week's money
or are they just playing again?
Let's just play again.
Fuck it.
We've got the...
Yeah, we've caught a few people.
So, that was a sub...
That was a sub run, Charlie?
Or...
Who was that?
I can't see who won.
Grifter DMACC. So so was that the subscriber wheel that was sub okay so congratulations we picked another sub now we go on to picking someone who's
played this week so that was grifter dmacc congratulations um there you go and then
yeah that's it looks farming fit for me, creating multiple accounts, multiple this that we, you know, we, we have,
we have rules and you guys know that.
And then our partner also has a set of rules and we have to follow them.
That's it.
You know, and we stand by our rules.
Now let's, let's spin it again.
So grifter DMACC, you'll go first. Under Oath. I think I've seen that name a lot.
Oh, yeah. There was in here.
I love that.
Right? Yeah.
So, you know, look, we love you guys.
I want to give money to as many people as possible
I think Tyler feels the same way
I mean we're a show
that has given about
2.5 million dollars
in the last three years
to listeners
five days a week
and we're like
the longest running
morning show in
crypto
maybe ever
at this stage
so listen
you know
don't don't don't fuck with the program, y'all.
You know.
Love you guys.
I want you guys to win.
Let's go.
All right.
Grifter DMACC.
Grifter DMACC.
Let me log in.
I was logged into my account over the weekend.
All right, Grifter DMACC.
You can already start picking how far you want to go.
You're playing lamb chops. So, you want to go. You're playing lamb chop, so you want to go easy
to the tracks? What are you thinking?
You should already start picking.
Boom.
Alright, I'm ready on my end.
Oh, no, I'm not ready on my end. One second. There you go.
Tracks! Woo! Here we go.
Wow. Alright, here we go Wow
All right to the tracks right away. You've already made $500 so congratulations on that
There we go first tile kick his ass. Oh my god, that is terrible run
Yeah
See Mando, I thought man it was busy
He's busy turning down the RTP
All right, what do you want to do this round?
Let's go for
And That's Oh. And, uh.
That's not nasty.
Sorry, Grifter D-Max.
That is... Maybe, you know what?
Some people need to up the difficulty, you know?
I'm just saying.
We got looks here saying try the heart strategy you did with Wiz.
I don't know.
It's Wiz's money, though, you know what I mean?
Well, Grifter, you got
$500, so you'll have something.
You made $500.
Are we gonna
do the same game?
Let's see.
So this is Under Oath. Is Under Oath here?
Under Oath is here. I think it's...
We did both of the
runs. I think I saw
Under Oath. Is he not here? We did both of the I think I saw
Under oath
He's not here
Wait he's here hold on
Okay under oath how do you want to play this
Easy tracks I mean this is a tough board
Easy tracks alright
I mean yeah grifter dmack cleaned up the board for the guy
You better thank
Grifter DMACC right now.
Under Earth,
that was as easy as a...
That's a barn run if I've ever seen one.
This is a barn.
Krylox is saying,
RTP is loaded.
Grifter DMACC is in the chat like, yo.
That's a barn.
Hold on.
Nope.
Atani's saying no barn.
Some people are saying cash.
Don't at least another.
I mean,
I think this is 14,
but I'm going to at least.
Grifter took both chambers.
I love the chat right now.
He says one more.
All right.
One more for now, right?
Dude, that is a clean board.
All right.
Tyler, did a strategy or do you keep going?
Under Earth, this is your call.
Aliens. This is your call. Aliens.
This is a clean, clean.
I think this one's fairly deep.
Everyone's arguing the chat.
Hey, Under Earth, do not read the chat.
All right?
It's your decision.
Though we love the chat.
Oh, no.
Sure.
I think it's going 14.
This is a barn run.
This is a barn run.
I'm going to give you five more seconds to think.
You pick.
Under Roth 72.
Is that your final word?
He did say cash all right i'll give him one more second to answer and then he gets another run right he gets another run yeah but it's not gonna be as good as this one tyler you're not helping
the case uh this is the best part of the show.
What?
We host a good show.
He's gone.
This guy is like on the road somewhere right now.
That Tyler comment got to him, dude.
That was like a backhanded comment.
Oh, he.
All right.
All right.
Well, sorry you're taking a barn run.
We told you. See, but we never would have stopped on the last base.
Yeah, but he would have gone to like $1,400, $1,500.
Yeah. It's all right.
It's all right. Wait, he gets another run.
Run, yeah.
So you've made $1,200.
What are you going to do here here you can change the pace as well
Well, you see
Does just cuz it would have gone to the last one does that mean you would know right every game research
Feel like it. Yeah, I mean in a vacuum. They're all gonna be yes. All right. He tracks. All right, let's run
Come on oh
Nice nice nice
Nice not
About to happen all right good run he won 12
bound to Happen to happen. All right. Good run. He won 12. Bound to happen.
Congratulations, though.
We've been close to $10,000 again.
Sorry.
To $2,000
again on the show today. With that being said,
we will see you all tomorrow morning,
10 a.m. Eastern Standard Time
for another episode of
Film Hour on Rock Radio, let's go. Thank you.
