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FOMO HOUR: Market report, Daily News, YEET daily giveaway
Recorded: May 28, 2025 Duration: 0:51:01Space Recording
Short Summary
In a dynamic discussion, key developments in the crypto space were highlighted, including Telegram's partnership with XAI, GameStop's substantial Bitcoin purchase, and MetaMask's expansion into Solana. Additionally, the introduction of Sonar by Echo aims to revolutionize token sales, signaling a resurgence of ICOs in the market.
Full Transcription
Thank you. Yo, there we go.
What's up?
What's up?
What's up?
Hey, Bongo, where's the screenshot of the RuneBord today?
What's that?
Where's my Rune the rune board today? What's that? Where's my rune board screenshot?
Huh?
The day after my tweet, I got tagged like 50 times
and then nobody's tagging me anymore.
As Bitcoin teases new highs.
I'm just playing.
I love you guys.
What's up?
What's up?
What's up?
What's up?
What's up? What's up? What's up? What's up? T-Block. What up? Lord. What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What up? What's up? What's up? What's up? Cyborg. What's up?
Aqueous.
What up?
Shaq.
What up?
T-Block.
What up?
Lord.
What up?
Eat Daily.
What up?
Sat Spoon.
What up?
Opportunist.
Big Dog.
What up?
Mr. Doaks.
What up?
Unchain.
What up?
Ari.
Bonesy.
Ruse.
What up?
24 Hustle.
What's up?
Rachel.
What up?
Poorya.
What's up?
What's up?
What's up?
Let me pin the Twitter spaces to the top.
Let me pin the Twitter spaces to the top. Let me pin the Twitter spaces to the top.
We are so bad, babycakes.
Let's fucking go.
All right, Sims, cook it, baby. Thank you. um
Yo, yo, yo, yo, yo.
What up?
What up?
Good morning.
Good morning.
Good morning.
Good morning. Good morning.
Good morning. Good morning. Good morning. Good morning.
Good morning. Good morning.
Good morning.
Good morning.
Good morning.
Good morning.
Good morning.
Good morning.
Good morning.
Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. Good morning. um wednesday may 20 is it wednesday yeah it is wednesday may 28th 2025 look at that another
beautiful day to have a beautiful day i got my co-host in the house tyler mando big game mando
good morning what did you just call me big game not big i i i cannot i'm not gonna lie i kind of
heard the wrong thing as well, even though I said it.
Actually, Big Money Mando is better.
What's up, y'all?
Hi, T Tyler and Big Money Mando.
There you go.
That's not bad.
There you go.
What's up, guys?
How are you guys doing today?
I'm doing great, man.
Market is moving.
Moving all around, but it's a good day.
A dip is coming.
And you're meant to buy the fuck out of it.
You didn't come to the poker tournament yesterday,
bro. What? Oh, yeah,
no, well, I had, sadly, I'm not going to say
what, but I had something very important
type of meeting that can't be rescheduled,
which sucks. And it was heavy and stressful. I had to go important and type of meeting that can't be rescheduled, which sucks.
And it was heavy and stressful.
I had to go on an hour long walk after it,
but I couldn't sadly.
but I watched,
I watched the results and stuff.
I was really bummed.
It looked like a lot of fun.
I can't believe you guys let Bernie in like top 10 or something.
It's crazy.
I mean,
if I was there,
like I would have won.
Like that's,
that's on the final table for sure.
Yeah.
I feel like Bernie's on a generational run, right?
Like this kid is like, I changed his name on my phone to Bernie Bottoms.
Like that guy.
Bernie is on a generational run right now.
He's there.
He's cooking.
Bernie Power Bottoms.
Bernie Power Bottom.
You know, guys having a kid.
Bottoming fucking NFT coins. He's, you know, guy's having a kid, he's bottoming fucking NFT coins.
He's, you know, he's building houses, buying boats.
You know, he's Bernie Bottoms, Bernie Powerbottom is killing it.
Tyler, Tyler, how are you doing today?
I'm good.
Despite these markets, they're feeling a little heavy.
I was kind of hoping we would just shoot right up to 120K.
I guess we're going to have to wait for tomorrow or Friday.
Looks like we'll have to be a little more patient.
It's a weird market.
I'm sure we'll talk about it in a second.
But this range is like so fucking tight.
And it looks like we'll talk about it.
Speaking of which, we will talk about the market today.
So that's for sure, for sure.
Let's get a proper market report.
Then we'll go through Tyler's top 100.
Again, big news day again yesterday.
And Y And giveaway.
So yesterday, Vanessa made nearly $1,100.
Love to see that.
So let's see what they make today.
And then last but not least, this show is powered by Wallet Connect.
Wallet Connect is a connectivity network shaping the future of on-chain UX.
If you're finitated to Web3 app, you've seen Wallet Connect.
That blue logo, it's everywhere.
We're not going to trust.
Think crypto is recognizable as Visa Checkout. Want to learn more? Follow Wallet Connect on That blue logo, it's everywhere. We're not going to trust in crypto. It's recognizable as Visa Checkout.
Want to learn more? Follow Wallet Connect on X
and Telegram to stay ahead of what's next. While I'm
on a topic, Tyler brought to
my attention that Wallet Connect
is trading at nearly
billion dollars now. It launched
at 300 mil. So
if you've been listening to the show
and you follow our sponsor,
they're cooking.
That's a clean 3X with size.
But not only that, guess what, lads?
You know how the prediction market, Myriad, has been doing a leaderboard for the top predictors of the Wallet Connect and we're giving them tokens?
The 150,000 Wallet Connect tokens that we're giving away tomorrow, they're going out. I think they're being sent off tomorrow as Pedro, the founder, contributor is coming on the show as well, is worth $140,000 Wallet Connect tokens that we're giving away tomorrow. I think they're being sent off tomorrow as Pedro, the founder,
contributor is coming on the show as well. It's worth
$140,000.
We're giving away $140,000
tomorrow? Yeah.
I'm not hearing enough
about this.
What?
This mirrors the size of the entire Arbitrum
Kaido reward pool.
Just saying.
I'm just saying. But hey, you don't- It's Myriad on Myriad right now.
I'm just saying, you know,
that so basically, Mando,
as you know,
and Tyler, you know as well,
we launched on top of sponsoring our show,
Wallet Connect sponsored
and partnered with us on Myriad Markets,
which was a points prediction markets.
And you had to predict outcomes
on Wallet Connect, you know, stuff, right?
How many users they have,
how many transactions are made.
And there was a leaderboard.
38,000 people participated
in the wallet connect markets.
And tomorrow we're distributing $140,000
to the top predictors on Myriad
for wallet connect specifically.
So, you know,
InfoFi is a thing on Myriad too, I guess.
Technically it's InfoFi
because informing yourself and predicting.
So maybe we need to market it like that, Tyler.
You know what, Sims?
We'll work on that when you're back as well.
I know you're going to be off for a few days,
but we'll work on that because we are distributing 100.
So if you basically made a prediction on Wallet Connect,
there's $150,000 of rewards coming out.
Here, on myriad.com, dot market, sorry.
Right there, right here.
Wait, where is it?
It's here.
There was this predictions.
So they're all resolved now, right?
And there's a leaderboard.
And shout out to Ruby Pearl who won.
And if you look here at Mando, which is very interesting for future partners,
there was 38,000 people participated in this.
And so, yeah, we're giving away $140,000 to these people.
And what was cool about this is it's not just AI slob.
Here.
You actually got to use your wits and do some research into their protocol
and try to get the right side of the bet.
Yeah, so how much is one VCT?
So here, the number one is going to make 20 grand tomorrow.
So it's trading at 92 cents.
The top predictor is making 20,000 wallet connect tokens.
So that's nearly $20,000.
Yep.
Runner up is making 15 grand.
Third person is making 12 grand.
Fourth person is making 10 grand and on and on and on.
So the top 10, you know,
and then we're probably going to sparkle
some tokens to everyone,
but it's interesting,
right?
Not bad for,
for making predictions,
informed prediction markets.
So not only here,
I was actually talking to another media founder
in the industry an hour ago about this.
We win as a media company
because obviously we generate revenue
from this,
from the sponsorship of the show,
Underexposed,
et cetera,
Decrypt Media and,
and Myriad Markets. Wallet Connect wins here because they had 40,000 people actually partake from this, from the sponsorship of the show, Underexposed, etc. Decrypt Media and Myriad Markets.
Wallet Connect wins here because they had 40,000 people actually partake in this.
Follow them.
We requested.
So you'll follow them.
Go to the Telegram.
Get informed about Wallet Connect.
I'm sure a lot of people are in a much more frame of Wallet Connect thanks to us.
And then the participant wins because, you know, not only did they get to farm Myriad
points, by default, Abstract XP, but also get a chance to farm Myriad points, by default, abstract XP,
but also get a chance to win Myriad. So it's a triple win, guys, for the participant. So yeah,
not bad. Not bad. Not bad. Not bad. So anyways, so that's that little segment, but we'll talk about it more tomorrow as Pedro will be back on the show. Mando, Mando, Mando, Mando, Mando.
Let's see what you got for us today.
Who is the man,
macro daddy of the land?
Can you dig it?
GM, everyone.
So, yeah, we had a bit of a weekday,
let's say, in crypto.
If you read the headlines, I think it would, you'd be kind of a little a day, let's say, in crypto. If you read the headlines,
I think you'd be kind of a little bit surprised
because yesterday we pretty much had five or six companies
slash governments buying Bitcoin.
It feels like we're announcing they are going to buy Bitcoin.
We had the biggest ones were trump obviously came out from media says they're going to buy two
and a half billion you had um game stop today you had the texas bill looks like it's going to get
passed you had el salvador buying some bitcoin you had um you had that company come out and bought ETH,
$477 million of ETH.
And there was like two or three others that like,
I think Metaplanet issued some more to buy Bitcoin yesterday.
Like everyone is buying Bitcoin, it feels like.
Maybe that's, people are starting to get a little worried
that we said about there, like that isn't all good.
But yeah, lots of bars of bitcoin the bitcoin
conference has been kind of a centerpiece for like announcements it feels like so we've seen
a number of those come out over the last 24 hours and pretty much just the same announcement hey
we're going to buy some bitcoin um and various different people coming on stage and saying it
there's been some pushback that like it pushback that Bitcoin's become a bit corporate
at these sort of events. I think it's kind of
true. It's kind of
funny to see. I think it
probably feels much different than
Bitcoin conferences of
five years ago, let's say.
But you're definitely getting
buyers with all of this.
With that, we've seen
most things sell off uh even though big with
bitcoin dipping i would say the major movers lower have been memes but i would say probably
solana ecosystem has just been a little bit heavy um as a broad group so like far coins down
some of the solana d5 protocols are down a decent amount
today and then it's difficult to say with memes because i think memes in general are down but
definitely the ones in solid like a little bit heavier so this soul versus eth trade i do think
is starting because eth had a little bit of a rally yesterday on that treasury announcement and
i think there's a little bit of like oh I don't know
I wouldn't say it's like fear
I don't know if there's as much confidence
let's say
that ETH is not going to be the thing to
here
in terms of macro we do have quite a big day
so we have Nvidia earnings
and we have Fed Minutes
I do think we could see some volatility
around both of those uh i would be unsurprised if we see a little dip here uh across the board i
tweeted out today that i think we've got a dip coming it's happening to buy it everyone wants
a dip everyone it's very clear to me that everyone's calling for it. We have the most short hedge funds I've ever been on stocks.
Really?
And if you look at actually funding
across the board for majors,
it's actually like negative or close to zero.
So like, I think that people probably have missed this move
and are now looking to...
Oh, wow.
Yeah, you can actually... Well, it doesn't actually show even so it's negative but yeah it's it's a really nice oh it is damn yeah um and i just don't believe
look at solana's the fear yeah let me put it that way like there will be a point today i reckon
where you're going to be able to buy
everything at an okay level
have you seen the Solana funding rate here?
I think you're meant to buy it
yeah
is that the most shorted point?
there's a little bit of
uneasiness about Solana
and immediately everyone shorted it
so it tells you that
it's not going to move anywhere near the amount that you think it will be.
It won't move as much.
Bitcoin might move to $105K and it might zip straight back up higher.
Or it might move to like $103K and it will go like a V-shape, like a rocket back up in my opinion.
So be very wary of being bearish.
But I would say that you're probably going to get a good dip to buy today or
tomorrow.
So this is the M2,
right?
Tyler.
Hi T Tyler.
This is a,
this is,
this guy's been posting it every day and it gives you that.
And it's funny enough.
This is the top of the range,
right?
So retesting the top of that last range at 104 before a move up,
which is something that a lot of people seem to have.
Big James is now out of the equation, right?
So it looks like that's happening.
Hang tight.
Memes are probably going to get the sharpest dip.
So if anything, instead of longing, you could probably go into memes
because usually these go, like Farcoin is down from like 160 to like 130.
I think Pepe is down like 20-something percent from its picotop here.
Yeah, down a whole billion dollars.
Pepe is holding up okay.
It's holding up so good, dude.
I would say that because it's on ETH, people are less far away,
whereas Farcoin has.
But at the same time, Farcoin, you buy dips in Farcoin.
Yeah.
I mean, here, this has been the easiest chart to trade in a way, right?
Every single resistance here has been sold.
And so it's pretty clean setup.
I'm still in my position.
Even if it goes a little lower here, we'll still hold it.
Mog also is another good
one because it's on Yeats, but obviously Pepe is
good. Ethereum looks
good, man. I'm glad that this time it didn't
just dip back to like $2,400
right after hitting
$2,600. When do we
think
that Ethereum hits $3,000
here, boys?
Make a little prediction.
I don't know.
I don't know.
I think Bitcoin could go a little bit lower, like I said.
And I think ETH will probably even underperform on that move.
But I do think it's going to be the best alt L1 to own for the next couple of months.
I wouldn't say long-term, but I just get the feeling that it's got enough of the narrative back.
And I think people are generally underexposed to it.
Yeah.
I think a lot of people are very eager to call BTC to the top here as well and they'll be very careful about that if BTC goes lower.
But we'll see.
Tyler, what's your 3K call?
Yeah, I mean, I think it's dependent on how quickly Bitcoin rebounds here
to a degree, though ETH isperforming it a bit on the week it's up 2.7 bitcoin's flat on the seven day
so i don't know i feel like it's in reach right like it feels like yeah my god we're gonna see
it like by next friday that'll be nice. Unless more extended dip here. It doesn't really feel like it's going to be an extended one to me,
but I feel like the market sentiment is still like so mixed that like,
you get the sense that some people want,
want us to go down and like that max pain is,
is up maybe because people are out of position.
But like,
I don't know.
I feel like people aren't necessarily all just rooting
on the rallies
right now but what's interesting about this ETH trade
I tweeted this out right before the show is these ETF
inflows are picking up for ETH
right and they were pretty
they've been pretty abysmal
for most of the year
275 million net
inflows in the last five sessions
350 million in the last five sessions.
350 million in the last 10.
That pace keeps up. It's going to be a nice little booster. And of course, there might be some
neutral trading happening under the
surface there.
But if you take it
at face value, that seems to be
another potential big driver.
And I think Amanda, I really like this.
It's hard to ignore that sharp link headline with consensus and Joe Lubin
spitting up 425 million.
I saw DC investor tweeting out today that he thinks SBED is a buy.
Probably.
It was at 20 million this morning.
20 million market cap.
It was about 5 million yesterday or something. Before20 million market cap. It was at $5 million yesterday or something?
Before the news, yeah.
So it's up
4.5x
off the bottom.
Okay, so it's down 12% today though.
Am I seeing this right?
Yeah, it popped yesterday.
Yesterday it went up like 450%.
Wow.
I mean, that's normal. Wow, okay.
Holy shit.
How do you justify
20 million
versus the 425?
I'm just working through this in real time
because I haven't really started digging
into this.
Can you buy S-Bets and crack in those platforms
now that offer these stocks?
It's on the NASDAQ.
Yeah.
For people who don't really trade on there.
I wonder.
But yeah, I guess we'll see.
I wouldn't bet against consensus and Joe and stuff.
It looks like Joe is in with a mission to save Ethereum.
And I think Ethereum needed the savior, right?
A lot of people have been talking about how the Ethereum brand
needs someone to really be a little more vocal about it, perhaps.
Like this like Sailor-esque, maybe not exactly Sailor,
like more of a Sailor-esque personality or face.
And it looks like Joe and ConsenSys are going all in.
I mean, as you guys know, they have ConsenSys software,
which is Infura, MetaMask, all that stuff.
And then they also have Linnea as their L2.
So that actually makes me very curious about Linnea, Tyler,
and what's to come from them.
Now I'm curious about that again because that's their L2, right?
That is the consensus L2.
Are you still using your MetaMask card?
Not as much as I would like to.
I tried to buy a fairly big ticket item and it didn't go through.
And after that, I've been kind of shied away.
I need to give it another go.
I wish I had the physical.
If I had the physical card, I'd be using it more.
Oh, you need the fiscal card.
Hard to get.
Those are hard to get.
I don't know.
If you go to ECC, you can pick one up.
I was talking to their team yesterday because I'm finally applying for mine.
So I'll make sure that you get yours.
But anyways, in other news, James Wynn.
Big James Wynn in the market side.
And then we can go to the news,
man.
So this guy's portfolio is down to $12 million from 85 mil.
I just saw this look on Jane post about it.
This is crazy guys.
I mean,
what do you guys make of this?
This is just,
do you guys think he was hedged on the sex?
Or is he just a bad traitor?
I think he was not hedged.
I get more and more
of a feeling that this guy's
got a bit of a nut loose.
And it worked on the upside.
It can also work just like this.
You know?
I... worked on the upside, I can also work just like this. You know? Yeah. It's just really bad
risk management. That's all I can say.
How can you be up 80%?
I just think it's
kind of wild.
Yeah, like everyone likes
a D-gen, but you do just sit there and go like,
fuck, he still has a long on right now.
Oh my god.
That's a gen.
That's a general bumble in the case of like two weeks.
He has a long on right now.
Man, they might come.
That's right on the line too.
It's down 2.3 mil.
Fuck.
I didn't believe he was hedged just because of the way he was trading
it felt a little too
maniacal and also just felt
like a DJ
who just like
had the funds
I've interviewed a few traders like this right
for radio
one that comes to mind is Alex Weiss
who very
similarly had a run up like this and then a rundown like that i
think other people cryptocaleo had something very similar to him right like unbelievable run-up and
then kind of pissed it away doing dumb stuff and like both of them have said the same thing when
we've interviewed them like they got themselves into this character on the timeline and they felt they
had like that they felt they had to defend that and like because they had they became my main
character and that meant they just they just did the wrong things um alex white said the same thing
he was like i was too interested in what other people thought about my trades
than I was about putting on the right trade.
And I think Kalio probably said the same thing too.
And there's been a bunch, like all the top traders we've interviewed
have had like big runs like this.
And the ones that have been main character for a short time,
they've all said this.
Zoran Cole was the other one, right?
Like got himself to be main to be had a really good
run and then
pissed it away doing dumb stuff and just took
some time out, it's the same
every single time one of these big
perp traders
becomes big and their trades
start to come public
when that starts to happen and it becomes your
personality and you are the person you feel like you have
to tweet,
it's just stop.
85 billion is...
I mean, Weiss lost about 100
in the space of a few...
So I think it's kind of similar.
But when we sold all the apes
and we did that trade, for example,
me and Overview said,
we're not trading for two months.
And we said that to each other. We were like, we will only put on bad trades if you if you make yourself like every time
bro you put a spot on yourself and then you're like everyone's gonna look at every single one
of your next trades just don't make a next trade always like my biggest losses are after big wins
yeah biggest single losses are always after a big win.
Like I did a big Trump trade and I lost a million dollars the week after.
You could have lost.
And I could have.
And we did the math.
We did the math.
I could have lost a few more.
Thankfully, you know, stopped that loss.
But it's always after a big trade that you think you're so good
and i think gainsy put it well also gainsy is another example right and he talked about this
too is you're actually not that good of a trader and and you think you're so good because you just
had a big trade and you feel so cool and your testosterone's hitting you know you're like fuck
i just spent a few million dollars in that trade and by the the way, we're talking the millions, but it happens.
Let's say your book is like five figures and you make a multiple six figure trade.
It's the same thing, right?
And all of a sudden, and I've heard even people, once this kid was like, oh, I made like 50k
on this coin.
I feel like I'm still getting lost at all.
Like, so it's all levels.
We're not just talking about, you have the Weiss and Wynn levels, then you have Mando
and Ovi's and Kaleo and KBM and Gizzi's like that eight figure trade level.
Then you have someando and Ovi's and Kaleo and KBM and Gizzi's, like that eight-figure trade level. Then you have some seven-figure trades.
It's every level of trade that, you know,
you then think that you're so fucking good at this shit
and the market humbles you real quick.
So, yeah, lessons in there.
Lessons in there to just maybe take it off.
It's good advice.
I know it's hit me as well, not to the scale.
But it's hit you, right?
Happens to everyone.
So take off after a big trade.
It's hard, man, though, though.
It's hard to take off.
Because also in the markets,
they're typically the frothiest, right?
And you think that there's going to be another league up
because it dips, but then it goes.
So it always does this, right?
You sell, it goes higher,
you chase, and then it dumps.
And then you're like, fuck.
You know?
And so that's how you always get clapped.
And then it dumps for a long period of time.
And then you cook.
So anyways, James Wynn.
Hope you end up well, my brother.
My brother in trades or whatever.
Don't really know you, but hope everything's going to be fine on your end.
Tyler!
Let's go to you.
For daily NFT and crypto analysis. but hope everything's going to be fine on your end. Tyler, let's go to you.
It was a busy Monday.
Taking a look at the top or Tuesday,
rather taking a look at the top of the board,
a Bitcoin hanging out.
108 K is leading a touch, 2640.
We had a ton.
Telegram up 13%. They announced a partnership with XAI.
They're going to have
Grok integrated, I believe, in Telegram.
And they're going to earn referral fees
off of that
to some degree. So that was a big announcement.
We had a big news out of SWE and the
CETIS protocol that was exploited last week.
They announced a full 100% recovery for affected users.
They're going to use their own cash on hand in Treasuries,
and they got a loan from the SWE Foundation to cover the rest.
Though it does require a vote to pass.
So I would encourage folks who were impacted by that to make sure you go out and vote on that.
It was a huge day of Bitcoin news.
Taking a look at the Bitcoin Vegas headlines,
we had Senator Loomis announced that that Bitcoin Act bill,
the one that would enable the U.S. to buy 1 million Bitcoin over five years,
that's going to hit Congress next week.
So that's going on before.
We had Trump's crypto exec director, Bo Hines,
call Bitcoin the golden standard and say the U.S. will never sell the Bitcoin it has.
David Sachs was talking with the Winklevoss twins and said that if you want the U.S. to buy Bitcoin, convince Howard Lutnick.
Pointing to him and heading up that sovereign wealth fund as perhaps the easiest lever for the U.S. to buy.
And then Steak and Shake, they said they're saving 50% in processing fees on Bitcoin payments.
processing fees on Bitcoin payments.
So right there, you've got some real utility.
So right there, you've got some real utility.
In other headlines, Cantor, the Lutnik business,
their $2 billion Bitcoin lending business
has officially completed their first transactions.
So they're off to the races.
Gando mentioned GameStop bought $512 million worth of Bitcoin,
$4,710.
MetaMask, ironic, on the day that ConsenSys and Joe Lubin
announced the big ETH treasury, MetaMask growing out Solana support, officially live in that MetaMask extension, allowing Sol token management along with Sol app integration.
We had Sol strategies, Fiala Prospectus, allowing them to raise up to $1 billion in capital to invest in the Solana ecosystem.
Then Jack Dorsey Square testing out Bitcoin payments using the Lightning Network.
So a lot of big macro
headlines there. In token airdrop and protocol news,
Kobe's Echo, they made
a splash yesterday. They announced this new
Sonar project as effectively a new
launch pad for ICOs.
Also a bit of a direct
competitor with the Believe app.
So some fallout across the ecosystem.
They also announced that Plasma will
launch an ICO at a $500 million FDV via Sonar.
So that first Sonar launch is coming.
We had Arbitrum launch their Kaido Rewards Program, 400,000 Arbitrum, that's $160,000, spread across three months.
Camp Network also announced Kaido Campaign.
Rex Brands announced its shipwreck sale will happen via an allow list and an inept.
So a little bit of a twist over there.
Let's see, rounding out AI memes and crypto, AI market held steady.
That Virgin token, the meme for that virtual's ecosystem was up quite a bit on the day, up 70%.
That was a top mover.
Most memes broadly read.
The launch coin eco fell about 15% after that sonar announcement.
And then this Trenches was the top mover of the day on Solana.
This Carl, this Carl character,
I think he's got a big following in the Solana Trenches.
He's going to launch a stream.
He launched a token tied to his stream.
It was the top volume token on Solana.
It ran 7 million or so, up 8,400%.
And NFTs, bad bonds, keep moving.
Those mega ETH entities, the unofficial collection, up 57%, 0.44,
I believe I saw this morning.
And then Gmoney, sadly announced at 9 DCC.
It's closing stores and seizing operations at the end of the day.
And it's a run though.
There's a lot there.
Quick shout out to Gmoney.
Obviously, I think that's pretty sad news.
It kind of sucks for the space.
Someone trying to build a brand outside of crypto
I think goes to tell you that building in fashion outside,
it looks like that's where he couldn't go, right?
Outside of crypto that just was too hard to crack out of that.
So it kind of sucks.
I really like my 90 CC and the hats,
t-shirt and all that.
So I thought they really tried.
I thought the most exciting and best news out of all this was Echo.
I was so quick to send that internally to locks.
I was like,
hmm,
we shouldn't do something like that with Marriott.
No, cause we've been thinking about it.
And I've been saying like, yo, ICO is going to come back this cycle.
ICO is going to come back this cycle.
But, you know, you can't really just do it.
And now this is like, this is making me want to try this out.
And I've talked about this on the show multiple times with you guys.
But Tyler, tell me more about this Echo News.
Yeah, so Echo introduced Sonar.
It is a new open source platform.
It allows founders to self-host public token sales.
They don't really have to rely on any centralized intermediaries.
It basically will bring back the early ethos from the ICO meta in 2017
and then providing tools to enable it to happen transparently and in a compliant way.
So some of their key features. So these are self-hosted. Founders will be able to conduct the token
sales directly from their own domains. They'll have full control over the process. It's also
very flexible. So they support various models of token sales. You can do
auctions. You can do option swaps. You can have point systems. There's a lot
of customization in how founders can roll out their tokens.
They also come with a compliance tool set, which is also configurable.
It does enable founders to set up things like jurisdictional controls, you know, where the countries where these may not be allowed to operate and so forth.
And then it's also they operate without mandating KYC.
So there's a privacy preserving element
of all this as well.
First project is already announced as Plasma,
which is a product tied to the stablecoin economy.
They are launching,
I think they're raising at 500 million.
FTV, they're looking to raise $50 million,
selling 10% of the token supply.
So this is a pretty big one.
I think Plasma has been making some waves as well.
So there'll be a lot of eyes on this.
But I think the bigger picture, the 1,000-foot view here,
is there's been this buzz around internet capital markets.
We had some fun with BelieBap.
It didn't feel like that was the final product for the direction where this was headed.
Sonar feels like it's a little bit more there, right?
It's more buttoned up.
It's got Kobe tied in from the Echo angle of this.
One of the most trusted folks in the entire crypto space.
We've got the compliance dialed in on this.
It really feels like
this is
going to open the door
for ICOs to make a comeback.
ICO 2.0
live in
2025.
It feels like a big deal.
Part of the
fallout from the meme coin meta
that we've experienced in the last few months is we have fun trading these shit coins. It feels like a big deal. I think part of the fallout from the meme coin meta, right,
that we've experienced in the last few months is like,
we have fun turning these shit coins.
But at the end of the day,
I think most people want to be buying projects of more substance.
Yeah.
I mean, you've seen it, right?
There's a reason why people like the launch coin idea.
They want more.
Exactly.
And now we have more opportunities to do this
and it seems like sonar is going to be
perhaps the
they've got potential to be the leader
I think
we should be doing a token sale through
sonar I mean we'd be stupid not to
straight up I'm just going to say it like that
as a founder
and I always on this show talk about as a founder
also from that perspective what it's like you tell me that I can, we can now like sell tokens legally without forcing the person at KYC and don't have to give up equity either.
Like there's a lot of wins here in that sense, you know, and it's a good marketing plan as well.
and it's a good marketing plan as well.
And we'll see now.
The question is,
how are these people going to react to the market?
Are they going to be sellers, net sellers, net holders?
We don't know that yet.
But you don't also have to sell like 20% of the tokens.
You can sell 2%, sell 5%.
Let's say you're launching at $100 million valuation on token.
You can just sell $2 million worth, 2%, it's not 5%. Let's say you're launching at a $100 million valuation on a token. You can just sell $2 million worth, 2%,
and that'll take you a long way as a founder.
And if $2 million of sale pressure on the market is not insane,
if you have the right team and market makers, et cetera, in place.
So if you have a good product,
there's going to be $2 million of buy to absorb that sale, right?
There's that component.
I think that's the upside that you gain from a grassroots community.
They feel like they're in on the ground floor to a degree, right?
So I think a part of the meme coin meta was also this financial nihilism.
And the whole thesis there was that these protocols, these infrastructure tokens,
VCs got in early at low valuations,
and then the first chance that crypto retail had
was at artificially inflated valuations,
and the VCs were dumping on them,
and they really had no chance to participate in the upside.
This model would, in theory, enable you to be able to participate
in more of the upside, get in earlier in the process and kind of grow along with the protocol.
And we've seen how big of a difference that makes in price action,
like hyper liquid,
right?
They dropped to $3 and it's been up only since then.
And it now is arguably the single best token sentiment out there right now.
Yeah.
And like, that's the type of price action that you enable
via ICO sales like this.
Yeah.
It's the best.
I mean, ICO season is back, maybe.
So it'll
be good to see
what
happens on
that front. there's still a
a lot of stuff going on there was let's see what else we got um we talked about a lot most of the
the big headlines you have coin vegas i think the bitcoin vegas yeah what's uh give us a like uh
for the people who are not there like me me and you, what's TLDR here?
Senator Loomis announcing that this Bitcoin Act bill is going...
Oh, my phone's blowing up.
Oh, damn.
I've got movies coming here in like 20 minutes.
Same in an hour and 20 minutes.
But Senator Loomis announcing this Bitcoin Act bill is going to be in front of Congress next week.
And this is the big one.
So this is the one that would effectively allow the U.S. to buy one million Bitcoin over five years, which is 5% of the supply.
I don't think we had a line of sight that that was coming to a vote anytime soon.
So it looks like it will be.
I think the timing of the Trump media,
$2.5 billion raise to buy Bitcoin and crypto,
news that just broke yesterday,
might hurt the chances of that bill.
Because now it almost looks like Trump media
is front-running the U.S. government
and potentially buying up to 5% of the Bitcoin supplies.
So I could see more pushback because of that.
But, I mean, of course, that is a game-changing bill if that were to approve
with respect to what would happen in the price action.
So I think that it's going to be one of the most important items to watch in
the coming weeks.
I thought it was also interesting to hear David Sachs comments,
which perhaps telegraphs how he thinks that bill might go.
He said,
if you want the U S to buy Bitcoin,
tell,
tell Howard Lutnick.
And if you remember Howard Lutnick is in control of that sovereign wealth
fund,
which we haven't really seen much out of yet.
But it always made more sense for me, for the U.S., to go the direction of buying Bitcoin crypto via the sovereign wealth fund than just…
We've seen other sovereign
do that as well.
You're back. Check, check.
Try again. One second.
Can you all hear me? Yeah, cool.
We have to talk to Lutnik.
Everybody, if you have Lutnik's
phone number, give him a ring.
You have his at.
Give him an at.
We got to tell. It kind of looks like they're headed towards that sovereign wealth one. You have his at Give him an at Alright We gotta tell
So it kind of looks like
They're headed towards
That sovereign wealth fund
Like it's sounding pretty bullish
In that sense, right?
Like a USA sovereign wealth fund
Is just as bullish
In my opinion
As a USA strategic reserve
On Bitcoin
Same thing
Just different vehicles
I think there's a lot of signals
That the US
Will be buying Bitcoin
In some capacity
At some point
I would say In the next couple of years I I don't know if it's going to be
this month, like in the next month. I don't know if it's going to be in Q2.
I don't know if it's going to be in 2025. But their rhetoric, their language here, rhetoric,
it sure makes it seem like it is coming at some point.
And they're kind of beating us over the head at this point.
So it's something that you will look back and it will be so obvious.
So make sure that you're positioned for the scenario where that happens,
I think would be,
would be my advice.
I think other,
like on another day,
what might've been the biggest news was,
was MetaMask.
Dude.
Rolling out Solana.
Finally.
Yep.
I was telling,
I was,
I commented this on Dudas,
this tweet,
he put the announcement and then wrote 2025. And I was I commented this on Dudas' tweet he put the announcement and wrote 2025
and I was like
obviously I'm biased
because I love that team
over at ConsenSys
and the whole Metamask crew
but better late than never
and when it comes to wallets
something that's very important
security and technology
and I've had this conversation
with a lot of people
whoa
sound was a lot
but Metamask has arguably
some of the best tech
when it comes to wallets.
So it's good to see
the Mentor Solano
with the Vipers on.
What does that tell you
about Mog here?
The cultural, you know,
the cultural, you know, sign.
It's big.
I mean, MetaMask
has millions of users.
I don't have the data
in front of me.
I would guess they have
substantially more than Phantom. Oh, yeah, for sure. How of me. I would guess they have substantially more than Phantom.
Oh, yeah, for sure.
How many users does MetaMask have?
Let's open AI here.
See what chat GPT says.
Searching the web.
I mean, it's a tough metric.
It's like 30 million plus, no?
Yeah.
Oh, there you go.
Wow.
30 million monthly.
As of Jan 2024.
Wow. yeah oh there you go wow 30 million monthly as of jan 2024 wow and then how many users does phantom wallet wow 30 million more people will have access to metamask to solano which is
really good wow yeah it is big news i thought that was good news and big news i mean all that
sort of stuff is good um and so i'm excited to see what they've got rolling next i think
if they're going after the slaughter market,
they're going to get 15 mil MAU as of late 2024.
So it's about 2X.
So we'll see what happens in that sense.
Because a lot of people didn't swap over, right?
A lot of people are very loyal to their wallets and stuff.
So we'll see what happens.
So that was also big news.
And I mean, look, Tyler, I know you got a busy day ahead.
So if we can go to the giveaway, you've got anything else to cover here.
Yeah, I mean, that was mostly it.
A little action on those bad buns.
My favorite NFT.
I'm pumping the back here.
They're grinding up.
The Pokemon ones also hit two weeks yesterday.
Dude.
They've pulled back since then.
But NFTs are showing some signs of life out there.
It's fun.
Absolutely love to see that.
You know that will always be my favorite thing to see.
NFTs are so much more fun than meme coins, etc.
So absolutely love to see that.
So shout out to them.
Those bonds are what, 0.44 or something?
0.43 it looks like right now. So we to see that. So shout out to them. Those buns are what, 0.44 or something? 0.43 it looks like right now.
So we'll take that.
Some nice punk sales today too, back-to-back 3D glasses just now.
Yeah.
And I have to say, I've come across bearish on the virtual Zico system on the show.
I think that's a fair statement.
I think a lot of our listeners have pointed that out.
I slammed my fist
on the desk this morning. I saw that
Virgin was the token that Vader
launched last week. It's like the
virtuals ecosystem new
coin. I saw it
2.4 million. I know this is a buy. I didn't
buy it and it's 10x.
Whoa. It was
buyable at 2 to 3
million on the first day.
Where is it?
That's the wrong one.
Sorry,
y'all.
It's this one.
Yeah.
wow.
you had plenty of time to buy this.
Yeah.
It was very,
it was very public.
It was out there day one.
I called the whole virtuals crew
was talking about it.
I guess it did go sideways.
It's five days to buy it.
You had to hold through the consolidation.
This was
one that was obvious and it was
a painful mess.
Virtuos is doing good, man.
This ecosystem is thriving
right now.
That's the wrong one. Sorry. Virtuos is doing good, man. Like this ecosystem is thriving right now, you know? Yes.
So that's the wrong one.
Sorry.
But Virtuos is, that ecosystem is doing extremely good.
And you love to see that, right?
Wow.
Yeah.
This is surprising to me that it's come, like it's the fastest course in AI off the bottom.
Back to 2.5.
I mean, 2.5 yesterday, it's sold off
a touch since then. It's strong.
Yeah.
And I wouldn't fade it continuing
to grind up.
Yeah.
Yeah, that's really cool. So I'd love to do that.
And it's
good for the ecosystem. So there's a lot of cooks,
a lot of things. Let's see where this dip goes, Tyler.
I think it's going to be sharpened quick.
I think our favorite, before we go off,
Bob Lucas tweeted during the show, Tyler.
I know you and I are big fans.
We should welcome a healthy little Bitcoin pullback
to complete the first 60-day cycle.
They aid in refueling a sustainable bull trend.
So right on line with what
he's been saying. So he's also in the
104. See, everybody's
top range. Like the range
that I've been telling you about. We're talking about
on the show. It's not my range. It's the range I saw online.
But you know,
the range. So it's here.
Okay. So he thinks we're going to wait a little bit
before we get the breakout to 120.
So he thinks 120 is like...
He's got June here.
Okay.
He's got June.
But that's like...
I mean, there's two days left to me.
So that's what he's got.
So just be patient, everyone.
Hold on to your pants.
And great things shall come.
Anyways, should we give some money away?
Let's do it.
The code today was Vegas.
V-E-G-A-S.
Vegas.
We shaded it on the screen as usual.
So let me see.
Am I logged into this fucking Yeet thing on Firefox now?
Okay, cool.
I am.
I need to fix the audio setting.
Why can't I log into Yeet.com?
Oh, there it is. Oh, there you go. All you go all right i got money all right let's pick someone
hey master of none. Congratulations.
Master of none.
Congratulations. You win.
You win.
You got to make some money.
There you go. Master of none here.
You got that PFP.
Quirky's PFP.
Oh, I couldn't remember what that was.
I actually read his bio.
I remember these.
It's Quirky's PFP.
I remember these.
What up, master?
What's going on, guys?
How's it going?
You good?
Good morning.
Good morning.
Are you ready to make some money?
Congratulations.
Yes, sir.
Let's do it.
Well, to start, you've already made $500, so that is secured.
You have $500 in the bag.
Congrats.
Know that as we go into the games.
Master, let me ask you a question.
Are you watching us in video or are you audio only?
Yes, in video.
You're on video.
What should we do, Tyler?
Risky click?
I was kind of thinking risky click.
Okay, let's do risky click.
So, Master of None, as you know, you've already made $500, so that's in the bag.
100% for sure, no matter what, you leave with $500 today.
Are you familiar with the risky click game?
Let me see.
Oh, yeah.
So, basically, there's nine tiles.
You get two shots at $250 each.
Each tile is a bigger risk of getting rugged.
So you go from 1.20x to 420x.
And then you can decide to keep going if you win the tile,
or you can decide to cash it out.
Are you ready?
Let's do it.
All right, pick a tile.
So 2x here?
Yes.
Follow a bartender's tip.
Okay, let's see.
Let's see.
Yeah, come on!
Let's go, Sori.
Let's go.
Already at 2X.
Do you want to take the $500 or keep going?
Keep going.
Keep going, Keep going.
All right.
One more.
One more.
Let's do it.
Pick a tile.
Let's do five.
So this one?
1.75x?
Yeah, that one.
Use a Tornado Cast clone.
All right.
Let's see.
Come on.
Give it to him.
Give it to him.
Oh, no.
Oh, that's unlucky because one, two, three, four, and eight were green.
Wow, that's unlucky.
Well, guess what?
It's all good because you get another shot.
So let's start from scratch.
Your call.
Four.
So 150.
Use an exchange referral link. Come on, give it to him. He deserves it. He deserves it. So, 150. Use an exchange referral link.
Come on, give it to him.
He deserves it.
He deserves it.
That's bullshit.
Oh, that was a tough tile.
Oh, that was a terrible tile.
Only the first and second and last one.
All right, well, listen, Master of None,
it's all good because you still made $500.
Awesome, guys.
There you go. So, congratulations, Master of None.
Tyler, have a fun move. And to everybody else, I shall see you go. So congratulations, Master of Non-Farmillion. Tyler, have a fun move.
And to everybody else, I shall see you all tomorrow morning,
10 a.m. Eastern Standard Time for another episode of FOMO Hour on ROG Radio.
Let's go. Oh. Thank you.
