Check check check. Oh, okay. Perfect. Sorry. My mic is nice. Okay. I like I'm I'm I'm somewhat back boys
This better Wi-Fi Portugal than in Montreal. I gotta say it looks like I'm not gonna jinx it. I'm not gonna wood
Mando's like yeah, I've been telling you
This is like Mando's Olympics me moving to Portugal
it's This is like Mando's Olympics. Me moving to Portugal. He's going to go on the biggest I told you so run in the history of I told you so's.
We literally have another friend that decided to move now.
So, you know, maybe one day we convinced that Tyler did at Household, you know, to even move out here.
You know, I mean, he just bought a house in Chicago, so it'll take a little bit.
Anyways, all right, let's get ready.
Boom, we have a packed show today.
We have the founder of Wallet Connect coming on, actually.
Actually, he's giving a fuck ton of money to Myriad users, turns out.
Big, big TGE today or today or something right there you go boom all right everybody's on stage and get rug on stage and me send my co-host advice to myriad and the formal hour all right sims kick it
baby Thank you. Yo, yo, yo, what up, what up, Good morning. Good morning. And Tuesday, April 15th, 2025.
Look at that. Another beautiful day to have a beautiful day.
I got my co-host in the house, Mando, Tyler.
Good morning. How you guys doing today?
I'm doing amazing, man. How are you?
Of course you're doing amazing.
You guys are cooking. Jesus.
Living in sunshine. Cooking up
like crazy on eat. I love that.
I am also doing fantastic. I gotta say this.
Portugal is rubbing off on me, so I
You know, Tyler, how Amanda always goes,
I'm fantastic. I'm starting to get it. You know, like, I really fucking get it, you know, Tyler, how Amanda always goes, I'm fantastic. I'm starting to get it.
You know, like I really fucking get it.
You know, it is a good life.
I want to see some happy birthdays in the comments.
It is your beloved Tyler did its big birthday today.
I want to see the comments go off.
I want to see everybody shout happy birthday to our boy, Tyler.
You shored up on your big birthday.
It's the 4-0 milestone birthday here.
It's been a fun time celebrating with friends this past weekend.
We're going to do some family stuff today and then a long weekend with the family for Easter here this weekend.
We're excited and hoping we get a little
fart coin run to a dollar to
I was going to ask you what your one wish is for your
birthday. I was hoping it was pups related.
officially boomomer territory?
That's what he said to himself when he woke up this morning.
You're still a millennial.
You're still a millennial.
So now spending more time adding that to my daily routine.
You're like the exactly bootleg Bruce Lee saying Tyler's our big uncle.
No, Boomer is 1964 last year.
Well, you know, you are a millennial in like regular terms, but in like crypto Twitter terms.
I mean, I'm 30 years old and i feel like a boomer
you know what's so funny about like it was nft started this way and then kind of cryptos like
it was like high schoolers and 40 year old dads and like it really is true and then like you you've
got folks in the middle of course uh but there's a lot of there's a lot of dads out there grinding
this stuff dude it listen puts food on the table.
I'll be more food on the table
than the average regular job.
big happy birthday to Tyler
if you want to do Tyler a favor,
I heard if you send pups back up
uh incredible so i absolutely love that anyways today on the show aside from it being tyler's
birthday we got what do we got market report the market is looking good same as yesterday but we'll
chit chat about that um we got um tyler's top 1000 let's see what he's got for us today looks
like there's still a lot going on the space is is thriving. We've got, and at the end,
oh no, we've got a big guest coming on,
the founder of Wallet Connect,
who's also a partner of ours,
not only on the show, but also on Myriad,
which by the way, we'll talk about this in a minute,
but with the open they just got on their token,
it looks like we're giving away $55,000 on Myriad Markets
for participating into a free prediction market.
Shoes Myriad, by the way.
Congratulations, because there's 36,000 participants now on the contest.
So it looks like there's a lot of money up for grabs.
And speaking of money, speaking of money up for grabs,
Yeet, our other show partner, Yeet, not one, but two winners today.
We're going to give you a $1,000 each to gamble with.
The minimum you're going to walk off with looks like it's going to be about $500 each.
So we're already going to give you guys some money, but also no maximum.
Let's play some Lamb Chop later and check it out.
For that, you do have to sign up using your referral code.
All the details on the FOMO Hour account.
And what I'm going to do in a second here, once have my hands free i'm going to uh pin the tweet uh so that you guys can easily
uh i got it i just pinned it working so we go back to the same system but you've got to put
you've just got to put your username in it will pick you from there let's fucking go raffle bots
we saw some complaints earlier we fixed it shot the dj and tie so just go to raffle bot.xyz and
sign up but i also um you know pin the stuff on top
So those that will pick two people a raffle bought to come and gamble on stage with us
I'll be fun and as usual this show is powered by well, there's only one ad read now
Shout out to our fallen soldiers. We do want to thank galaxies. It was incredible run
It was a it was a we loved working with you guys can't wait to work with you guys in the future
But this was powered by Wallet Connect.
Wallet Connect is the connectivity network shaping the future of on-chain UX.
If you've connected to Web3 app, you've seen Wallet Connect.
That blue logo, it's everywhere.
And I kind of trust in crypto as recognizable as Visa at checkout.
Follow Wallet Connect on X and Telegram to stay ahead of what's next.
But anyways, anyways, anyways, Mando, let's see what you got for us today.
I think it's one of these days where we're just higher, everything feels okay.
definitely just feels a continuation of what we were talking about yesterday
and that people are generally less bearish about just the rhetoric coming out from the trade war stuff.
And that's generally been taken as positive for crypto.
So the only thing I've been looking at has been the 10-year, and that's also lower,
has been the 10-year, and that's also lower,
which has been good for markets.
just before it went live.
So I think it can go quite a bit higher,
if I'm honest. I do think that
Bitcoin here is going to push on towards
and maybe even above that
here. I do think it's in its
of L1s, which are doing well,
Shipes obviously had a good,
continues to be one of the stronger L1s.
133, which is doing well.
Bitcoin dominance is still, where
Tough to beat Bitcoin performance, that's for certain.
This week is a little bit light on stuff that can derail us
because it's Easter weekend.
We don't have a ton that's going to affect us.
So it could just be a quiet rally, a little Easter rally for us, I think,
which would be quite nice.
Bear is just in the stock market in Germany
and markets has been pretty high.
So without news, that will take us lower.
And really all that news would be something really bad
because I don't like really cataphysmic is what I'm saying
because I don't really think people's paying that much attention to some one-off comment from trump at the moment or at
least those dips are being quickly bought so i think we have a little bit of a low volatility
rally on our hands here that's my guy sorry i have to mute myself i don't have headphones today
um so it looks like the market is doing good.
He absolutely loves to see that.
I like the Easter rally thing here you've got going on.
Looks like the little Easter bunny is coming for us.
And Easter bunny hopefully likes to fart.
So we'll see what happens there because that's for Tyler's birthday.
So there's not much more we need to go over the market.
Just quickly, question for you. I was thinking about it, Mando, do you think the market is a little bit over the whole Trump headline tariff war thing right now?
Because it was an aggressive pullback last week across the board, right?
I think it was historical dips on NASDAQ and S&P.
I think they're not really β the tariffs stilliff still i think could point us towards a recession um and i don't think bond yields are out of the woods but i do think that
people are discounting trump trump's statements a bit more than they were before and that's that's
what i've been saying like ever since he had to like basically walk it back to the bond market
i think everyone kind of said okay, this is actually pretty good now.
Crypto can start to correlate way more with gold again because you're not going to have this like vicious sell-off.
And positioning was very light kind of across the board in risk assets.
strong period. You've also had like the dollar continues to be pretty weak.
You've also had like the dollar continues to be pretty weak.
And that's a little bit perplexing because bond yields are high. So yeah, that could either point
to other countries forcing it lower and selling their reserves. But that would normally mean
bond yields going higher, or it can point to a slight loss in U.S. hegemony here.
And I think a part of the narrative is that, is that the U.S. slightly hurt itself with
And I think that's why you're also seeing things like gold and Bitcoin react slightly
better because they're seen as more decentralized or not tied to any one government.
Okay. Okay. Yeah. centralized or yeah not tied to any one government okay okay yeah i was just wondering this yesterday because i'm like well technically these things this trade war is not finished uh but it looks like the market's kind of shaking
it off a little bit so i was wondering you know because a lot of people were scared about
what happens if there's more headlines have you guys been following what's happening on tiktok
with like chinese tiktok well the luxury goods stuff Have you guys been following what's happening on TikTok with Chinese TikTok?
Yeah, it's kind of wild how cheap all this stuff is.
I've been sending everything to Vanessa.
So every time there's a thread on this Hermes bag actually costs like $1,200 to make, I've been sending them all.
And then she goes, but you know, baby, it's the brand value.
You can still resell it. It's the same as as your watches I know actually my watches are made in Geneva by
hand uh but there's a difference there's a difference mama when I went to India I realized
how much was made there and it's just wild how stupid it is so basically Chinese TikTok has
decided to go on a war against terrorists by explaining how every single LVMH, non-LVMH brand, luxury goods, Hermes, Cartier, whatever, makes their goods, but even their scents.
So they've been like doxing all of their like Hong Kong suppliers, Shenzhen, Guangzhou.
Like they've just been full on doxing exactly how they make them.
And it's actually been hilarious.
I was just wondering if you guys saw that because that was so funny.
was taken to TikTok. Tyler, surely
not good. Luxury companies at the moment have been really badly
hit because of the loss of
for this. Then the trade war
was meant to really hurt them too.
A lot of those luxury stocks are down a lot.
I was not having a great time.
Yeah. I mean, we saw Coachella.
This headline was going around yesterday. 60% of Coachella
tickets were bought on buy now, pay later.
People still go to Coachella?
I mean, I was a big, people may not know this about me.
I was a big music fest guy in my early 20s.
Didn't make it to Coachella by the Austin City limits.
I went to Lawlapalooza several times.
Lawlapalooza is the big one.
Oh, Lawlapalooza several times. Ruling loud, right? Lawalooza is the big one. Oh, Lawalooza.
But I never bought them on buy now, pay later plans.
I mean, back in your days, I don't think that existed, right?
All right, get all the age jokes out now.
They didn't have credit cards back then.
That's not nice. It's the guy's birthday. That cards back then. That's not nice.
It's the guy's birthday. That's not nice.
It's not nice. Bonnaroo, Electric Forest, you guys have everything.
Tyler, Amanda, we got to go to a festival
together at this stage. Amanda's a big
festival. I was a festival guy.
Now he's got kids. So Portugal
has some pretty wild festivals.
There's a festival out in the woods in Portugal,
which is like a one week trance event.
It's like one of the best known.
And everyone just goes to like a lake with some,
And you go there and take a bunch of acid with like 20,000 people.
Very famous. Fun. Not too much in the acid, but people. Very famous.
Not too much in the acid,
Booming Portugal, really nice.
It's probably one of the most famous
psychedelic festivals in the world.
Let's host a FOMO hour from there. Yeah. Maybe not.
Maybe not. Um, we'll do the F1 thing with gate instead.
Let's avoid hosting from, from, from festival, from festivals. Anyways. Yeah. I do love concerts and everything.
Can you imagine us doing a live from Boom Festival? 40,000 people.
It's easily in the middle of nowhere.
I did host one FOMO hour with no sleep off of a bender that one time.
That was back in the days when I was sub-30.
I'm a very serious man now.
You know, I've got to be more careful here on camera.
Anyways, let's move on to Tyler's Top 100.
Crypto majors mixed on the day.
Bitcoin's still outperforming. Not a whole lot of big macro headlines coming in on the day,
though we did see that Bo Hines interview with Anthony Poppliano get published
They're saying that the Trump admin is exploring ways to buy Bitcoin,
including potentially using tariff revenue,
along with revaluing their gold stores to potentially exchange for Bitcoin.
So I think we'd heard a little bit about that before, but Beau is continuing to reinforce that.
They launched their zero commission trading for 11,000 stocks and ETFs alongside crypto.
So they're taking aim at Robinhood.
Canada, getting ready for those Solana ETFs, ready to launch tomorrow, April 16th.
Those solo ETFs will be live.
Visa is joining the Paxos USDG stablecoin consortium
alongside Robinhood, Kraken, and Galaxy,
becoming the first major trade-by firm in that network
that shares yield for their stablecoin.
Tether says it's going to throw resources behind Jack Dorsey's Bitcoin miner, Ocean.
Some new CeFi centralized finance lending market data shows around $10 billion in outstanding
crypto loans compared to $35 billion at peak in 2021, showing perhaps where we are in the
cycle maybe a little bit earlier, though the CeFi plus DeFi total is closer to $40 billion.
And then this argument continues going around.
Vitalik says PumpFun is bad.
Jesse Pollock comes out and disagrees,
arguing that it's a nascent form of content moving on chain.
Kickstarting once again, a larger debate
if PumpFun is good or bad.
In token, airdrop and protocol news.
OpenSea introduced Solana token trading live on its platform
for select beta users with Solana NFT trading live on its platform for select beta users. With Solana NFT trading coming soon.
Jupiter introduced Jupiter Pro, offering real-time data, new defaults for quick buys and currency,
a fresh token terminal, 10x lower fees, and more.
Wayfinder announced the prompt distributions for those cashing prime will take place every Thursday.
So there will be weekly token unlocks for prompts for those caching prime.
The wallet connect WCT token became transferable this morning,
opened up at around a $315 million FTV.
I think it just went live on Binance.
I think I saw that headline come right before we went live.
It was a big day for our guest here.
Colonel Dow launched its kernel token that opened at $320 million FTV.
And yeet, yeet, yeet, crossed $20 million in lifetime volume yesterday.
So that's some pretty quick movement.
I just want to hit that one angel investment like Matt Wong in ByteDance
where he turned $50,000 to $500 million.
So, Mando, the ball is in your court.
I had 18 calls yesterday.
I counted them all at the end of the day.
Yeah, Mando's in trouble at home, guys.
And that's on top of two shows
Yeah, I do the same thing. These shows are video calls.
Anyways, Tyler, I mean, where do we start?
Look, micros, whatever, kind of unchanged,
kind of sideways. It looks like we're ranging
really in this like 84, 86 range on Bitcoin guys and like so long. market's kind of sideways it looks like we're ranging really in this like
84 86 range on bitcoin guys and like so long it's kind of like 128 135 sideways i wonder what it
would take to break us out like do you guys think like this a headline like a china usa agreed us
whatever the fuck would take us like 100k so so there's a headline out five minutes ago which is EU
expects US tariffs to remain as
talks make little progress.
half a percent on the back of that.
Yeah, I just feel like people
are just going to fade all these headlines.
I just genuinely think that.
I think people just don't care.
I think we've seen a little bit of progress on the China communications.
I think it's going to be a long road.
But there are a couple other wild cards, right?
I mean, you've got big companies like GameStop.
I think there's some folks out there
that think they're maybe bidding yesterday.
And then any additional news on this Bitcoin reserve?
I mean, that 180-day clock is ticking.
And I think Bo referenced that
in his conversation with Popoliano.
He says specifically that 180-day landmark
and they're actively working on their plan.
And, I mean, he went as far as saying he wants them to buy it.
He wants the U.S. to buy as much as they can.
Of course, it's not just his decision, right?
There's a whole lot of factors, a lot of politics that's going to go into that.
We're going to go into that.
But the tariff revenue is going to be there.
But the tariff revenue is going to be there.
This whole gold revaluing is a very interesting one.
So I think that's another factor here to watch in the near term.
I think more people are getting,
more casual investors are getting into Bitcoin.
I'm seeing that in more personal conversations.
I was at a kid's birthday party this weekend
and another dad was kind of asking me my thoughts
and said that he's been kind of secretly investing
some of the family funds into Bitcoin.
Maybe his wife didn't want to know.
But I'm seeing more of that out there.
It's becoming more normalized.
This morning, Pomp was on Squawk box and on cnbc
and they're having a very serious conversation about bitcoin versus gold and if and pomp was
saying how gold typically outperforms bitcoin rallies 100 days later uh and they weren't just
laughing it off right they're taking it very serious and And it feels like Bitcoin has a serious seat at the table right now.
that's kind of what we all kept talking about when the ETFs were getting
Like it's going to take a bit,
but Bitcoin's finally going to have a big seat at the table,
And then the rest of the market kind of follows.
So as long as Bitcoin keeps going,
it keeps doing well in this environment,
you know, like we got two headlines back to back, which is like EU thing. And then like the premise of Canada is like, President Trump is attacking our sector, auto sector.
We can't provide guarantees for every situation. So he still wants to go at it. Yet Bitcoin is
still kind of like chilling at that 85,000 USD range. So it looks like as long i think as long as uh as uh as as bitcoin stays strong in this
market like that you're good i mean if you have the perfect barbell portfolio you know bitcoin
fart coin uh which is not my barbell portfolio sadly which i mean if it was a little bit lower
i mean i'm looking at farcoin here if we go a little bit lower i think i might just dump all
my swan into that and just chill but my selling main go away will be allocate the far coin see you on my birthday in september
so it's looking at anyways tyler where else you have for us there's other fun headlines though
yeah but more fun headlines a good segue into kraken right so we're seeing this this new trend
of just co-mingling of all investable
assets together. So Kraken launched US stock trading, going full tradify mode, commission-free
trading, 11,000 listed stocks and ETFs. They're rolling it out to just 10 US states and Washington,
DC. A full national rollout is coming, saying seamless trading between stocks, cryptos,
stablecoins, and cash, fractional shares on over 50% of listed assets.
So you can't afford full share in Netflix.
Tesla, you can go fractional.
And this is all accessible via their mobile and pro apps.
So, I mean, it's a big deal.
And we've seen the more traditional players like robin hood lean
into crypto now we're seeing the more traditional crypto players lean lean back into to try and fly
and it feels like they always kind of want to be the everything app it's a huge move for kraken
i think it's a big unlock for them um is coinbase on notice a little bit, right? I think the competition-
Kraken is definitely coming for Coinbase's lunch.
I mean, you see it in the marketing.
They make fun of them online all the time.
So I think that's a potential impact here.
I mean, I do see this use case, right?
I mean, we talk about macro every day, right?
We have to because crypto is so intertwined.
But when you're talking about macro every day and you start talking about leading stocks,
Like, okay, now I have this one app
where if I want to trade NVIDIA on this headline
that they're going to invest $500 billion
in infrastructure to build chips onshore in the US,
maybe I want to go along NVIDIA.
Now you can do that via stablecoins.
Maybe you can sell some Solana to do that.
Maybe you can sell ETH because we know ETH's not going up too much anytime soon.
This is interesting for me because I don't sell stocks.
I don't think I've ever bought.
I mean, I bought a stock for AMC and GME in 2020 for the first time.
And I never bought a stock again because I got it to crypto.
In 2020, I was looking for alternative ways of making money
in covid you know and i got my hands dirty with some amc calls actually mando i had blackberry
calls before you know the whole squeeze so i was quite early um and uh anyways and then i never
really touched it because it's so it's really annoying to trade stocks in canada the way it's
But if I'm able to do something like this, do you guys think this could actually be more dangerous for some of the top crypto coins?
Like, what would you buy Ethereum if I can now buy the S&P 500? 500 this is the narrative i've been talking about for the last couple of months is that the the real
issue is that a lot of these stocks and all the rwa trend is going to be it's going to trade in
dollars i think and there's going to be a question about like are these actually currencies or are
they gas tokens is it more like owning visa stock or is it more like owning silver or dollars do you know
what i mean um is it actually a currency or is it is it more about like the fees that the chain will
make and i think when i first entered crypto it was like, ETH is programmable money. That is going to be its own thing.
Now, people don't really talk about ETH like that.
I don't know if they talk about, like, the use of the chain,
but, like, it feels as though stablecoins have become
kind of programmable money here.
And I think it's something that we're going to see grow as a trend
go because stable coins they just keep on i mean it's well overtaken eth's market cap now
um in total i think it all they could easily get towards even bitcoin's market cap in the next
couple of years the total total value of stable coins i've noticed some personal changes in my
own trading whereas i used
to always if i would do like an nft trade or a meme coin trade i would go i would just go back
to the native gas token but i've switched that so like now if i if i close a sole meme coin trade
i'm swapping to usdc that's exactly what i'm doing similar i was trading the bitcoin on abstract
swap to eth to get out of it and then straight
to usdc now like jupiter i don't know if you saw this as a part of their jupiter pro launch you
can change your default currency from either soul or usdc so that you always swap back to that
um so like they they see the writing on the wall too right and that's a i mean that's a
so like they they see the writing on the wall too right and that's a i mean that's a
kind of big change because like i used to be 100 native token would always just go to soul
and i was even up through like january maybe i was just naive for doing that but that was just
kind of my my native habits and now those habits are changing and i'm probably not the only one
yeah yeah that's i i started doing this in the last year i'd say and that's when i was I'm probably not the only one. Yeah.
Yeah, that's... I started doing this in the last year, I'd say,
and that's when I was trading really well.
And I wish I'd done it earlier.
Maybe it's fair marketing.
Because when you have the money...
Because if you hold the solar, the ETH, or the Bitcoin,
you tend to dish it back in.
But when you hold the USDC,
sometimes, not all the time you're a
little more reluctant because you know what usd is because the things that you buy in every day
your phone and your computer and your rent they're in the currency right so the biggest scam of 2021 one ETH is one ETH. So.
People don't say that at all, do they?
When's the last time you heard one ETH is one ETH?
It feels like it's mostly sold in jest.
It's always around stacking ETHs.
People don't talk about that that much anymore.
People don't talk about stacking shit anymore. Just Bitcoin.
Stack stables. Stack USDT, USDE, anymore just bitcoin yeah it's all it's stable it's stacked tables stack usdt usde usd c usd1
usd2 usd3 stack those anyways tyler what else do you have for us i think the other big news
was that openc so they they launched solana native token trading so users can now trade any SPL tokens, direct-line OpenSea coins like Bonk,
Whiff, Joop, and others. This is clearly a part of their broader OpenSea 2 initiative
where they are trying to go multi-chain and all kinds of digital assets. This comes after
the Magic Eden acquisition of Slingshot news that happened last week.
I tweeted this morning out the relative volumes.
I mean, I think we knew it was a huge difference.
We're still seeing $2 billion a day
in Solana Dex volume for meme coins.
NFTs are like $4 million a day.
So it's a 500X difference.
So, I mean, effectively, this is the only way for them to survive.
I think it's quite notable that the three big,
so Tensor, Magic Eden, and OpenSea are all doing this now.
What I didn't realize, and I'm surprised,
if OpenSea has been touting this,
And I think my advice to them is they need to be marketing this more.
Did you know you could do multi-chain swaps on OpenSea?
I could trade AVAX to a Solana token in one step.
And that's what I'm seeing in their UI.
I didn't actually test it.
So go to, just click on a token.
It was just going to take you to an anime coin.
ETH to a different chains token.
let's say like anime coin
on Arbitrum to let's go Aval, so let's say like anime coin on Arbitrum
let me know. But this is what I saw
this morning. That is a big deal. I'm onreading this, let me know. But this is what I saw this morning.
I mean, on Uniswap, the only way you can do it right now is you can natively bridge on Uniswap,
and then you can do a swap as a second transaction.
But it's still two transactions, then you have to go through the approval clicks,
and it's a big pain in the ass.
But it's an improvement from having to use a separate bridge app.
If they've abstracted that all away,
I think that's a big win for their app.
And I'm surprised they haven't been talking about it more.
Yeah, this probably has crazy slippage or fees though.
But in the heat of the moment, I don't care about that.
If I see a hot new coin on ETH
and all I've got is Solana,
I'm okay taking a bit of slip
just to try to get into it.
Because I'm only going to do that
Otherwise, I'm going to look
Because it's all the question.
okay, OpenSea is doing this.
So what? Who is going to start trading tokens on their app and why it's like what is the why for users to trade tokens on open sea that's a real differentiator so
you know it's so tough being opena where like every single thing they do, they get so much hate.
Like, have you seen the comments on this?
I can't wait to trace a lot of NFTs, uh, coins on OpenSea.
I mean, it's over, it's over the top.
And then everyone's just like, the only token we want is the OpenSea token.
And they all just want to sell the second thing.
They've got to be one of the most hated companies in this stage.
So does that mean that when the coin
comes out, it's going to be a most hated rally?
Maybe. I don't know. What do you
think that revenue is these days?
I think they need to show some they need to be
doing some token trading volume i think they need yeah they're getting the nft market share back
but again it's the share of a smaller pie it looks like they've got they're over 50 now
wow 80 of the trades in the past week.
Oh, volume, they've only got 37%.
Oh, the punks skewed that
because there's that huge punks trade.
Can you not bring him on his birthday?
Maybe some random Solana runner from the last day.
Yeah, we'll go through all this.
Well, hype less so since you sold it, but we'll come back to it.
Although, Punk's bitcoin spread is not doing
well at all it's 69k floor for 85k bitcoin we're down 25 now i guess that's bread that's not uh
not what we wanted to see there folks um man punks being on eath is starting to really like
we asked the question like hey is being on eTH weighing down the ponks? Like it's really starting to.
I think about this a lot.
I think that that certainly is a part of it.
But I think the reality is there's just not a whole lot of demand for these assets right now.
Because if there was, people would be buying them.
And I think my current view is we're still not really that risk on.
We need to see a more risk on crypto environment.
And then I think people will go downstream more to punks
and perhaps some of the NFTs.
Yeah, no, we're definitely not.
So we'll see where that leads us.
Anyways, you told me something about Canada and Solana.
Looks like they're going to launch tomorrow if all goes according to plan.
So Canada leading the way.
Again, I think they launched their ETFs, I think, before the U.S. did.
If I'm remembering correctly.
People were kind of tabling the sole ETFs for the U.S. to Q4.
I'm starting to think that maybe they get pulled up
a little bit. This SEC has been acting
That's going to be a big...
This is so funny. It's going to be
available in all of Canada except for Quebec.
I haven't seen the relative volumes. I'm assuming that the
Canadian relative volumes are a bit smaller.
We have ETFs for everything before America.
It's usually like Australia, Canada, like these two markets that have ETFs before the rest.
Brazil, and the volumes are abysmal.
So, I mean, this isn't going to be something that pumps the price much or at all but
still nice little headline for for the soul fans out there um we definitely do like the headline
anyways i see i see pedro's and stew will get to you in five minutes but tyler what else you got
for us we had a lot that was a big chunk of it for sure. Um,
this new C-Fi lending data was fairly interesting.
Let's talk about that one.
Let me see if I can get you the link here just so you can get it. Yeah.
I think Nick Carter shared it.
So basically, this is a look at credit in the crypto market.
And this is the C5 plus DeFi lending.
So they tell a little bit different stories.
Looking at just the C5 data, we're three and a half X off the highs from 2021.
DeFi data, we're three and a half X off the highs from 2021.
So you could say, you know,
we're still potentially earlier cycle looking at this.
But then when you, when you come through,
when you look at C5 plus DeFi,
so the central exchange lending on top of the decentralized lending,
like Aave and other protocols like that,
we're about like 50% of the way as high as we
were in 2021. But of course, I mean, Bitcoin is much higher than, well, I guess it's not that
much higher now. So 20, 25%, but you would expect us to potentially go higher this cycle than we did
in 2021, right? So that isn't necessarily the ceiling. All about a way of saying perhaps there is more room to run
this cycle and that the top
isn't yet in. So I think that's the bullish narrative
that I've seen coming out of this one. And you can also see just the different
players in this bar chart here as well
and what's changed from this previous cycle.
So this is going to be a one to keep an eye on.
No immediate action that's needed to be taken on this,
but just keep an eye on the credit in the system.
Tether is the largest lender.
Galaxy, Harlow Ledin, Coinbase, Maple Finance.
are some interesting charts.
Yeah, so here's the C5 plus DeFi.
So this is the more comprehensive picture. We're at
$30 billion now. Got closer to, what,
Why wouldn't we go higher
I was looking at the overall crypto market cap.
Did you realize that we're lower than we were?
Yeah, the broader crypto market cap is 2.68 trillion.
It peaked at 2.86 in 2021.
And stable coins are a much bigger part of that now as well.
Oh yeah, we are definitely lower.
That's a little bit of a gut punch.
This is what the total crypto market cap chart looks like
This is what the total crypto market cap chart looks like
and people were calling for us to go lower?
We pretty much hit that bottom line.
This is the bottom of the second inning, guys.
It does feel funny right now.
But it just feels like we're a little bit strong.
And it's like, oh, okay. Like, yeah like we're a little bit strong and it's like oh okay like
yeah we're waiting for people to like catch up but that's the thing mandel right but i think
you've perfectly like summed up like the sentiments like it's quiet but we're still 85k i mean we
still have a coin that's like at a billion dollars like a fart coin type coin so long as 130 which
is very low from its highs but it's also also not end-of-the-world type
ETH. I mean, it's terrible to see
it at $1,600. You hate to see it. Alts are also
I feel like if this is going to be
I'm really excited to see what happens in the
that the next run is to like 4 trillion.
just by looking at a chart,
but also part of me thinks what I said before,
I honestly think the next stage of this is going to be stable coins actually
become a much bigger market cap.
And it doesn't necessarily lead to a rally in L1s or in a lot of other tokens.
So I think that number can go a lot higher, but I think the composition...
I mean, look at this. You look at this chart, right?
And it's tough to think we go low. I mean, I'm always bullish. My name says Permable in it.
chart even the rational side of me is like yo like this is not where you short
looks like support yeah i don't know i don't know i uh i'm feeling good about it anyways
the code today it looks like look guys it looks like there's quite a lot of bugs happening raffle
bot it's normal we're setting're setting up a whole new system.
Remember the early robot days were all over the place.
We're going to figure it out.
It may break a little bit at first.
But, hey, we're going to give you guys money five days a week.
So if you show up every day like we do, then you're going to have a chance.
So just make an account on yeet.com.
Make sure you use a FOMO hour affiliate link.
If you're using Wizard of Soho's affiliate link, I'm sorry about that.
If you're using Kook Capitals link, I'm sorry about that.
If you're using Sims or Bernie's affiliate links, I'm sorry about that.
Whoa, whoa, whoa, whoa, whoa. Whoa, that. Whoa, whoa, whoa, whoa, whoa.
Whoa, whoa, whoa, whoa, whoa, whoa, whoa.
You got to use the FOMO Hour affiliate link.
And speaking of partners, well, we got one of our great partners on the show today, Pedro Gomez, the founder and CEO, right, of Wallet Connect.
Sorry, I know crypto has these tricky little titles.
We try to reinvent the wheel in every possible way that we can.
Pedro, man, it's a pleasure.
I saw you last on the panel that we did together in Hong Kong.
No, a lot has happened since then for sure.
Dude, you guys are cooking.
Congratulations on today.
You made it to Tyler's top 100, so it's a big deal.
I opened the Binance price of Bitcoin and there's a notification telling me that Wallet Connect is trading on there so i'm like okay these guys are doing something right and then on top of that it turns out that you know uh we're giving a lot of money on on myriad so you're one of the
top partners here we've got a myriad market's going on wallet connect so the show is very familiar
at this stage with wallet connect i think we have 36 000 people participating in the market
that's 36 000 experts that have been researching
and doing the numbers on on all the stuff so they could predict right but pedro aside from that
once you give us a little introduction of you know who you are quickly and like you know what
wallet connect is yeah so basically it all kicked off with me joining the crypto sphere like most of
It all kicked off with me joining the cryptosphere.
Most people, you're trying to learn how things work.
I was an engineer back in 2017, and I got super into Ethereum,
and building wallets was the thing that really drove me the most.
But it really wasn't working well.
It was a very different world, 2017.
So in 2018, I ended up building this solution
that just made wallets work better.
And the main problem that it had is Metamask was just two dominants.
And it wasn't even dominant just because it was the first mover.
It's just the technology was biased towards one wallet.
And that's not just how you build permissionless blockchains
So Wallet Connect came out as that solution.
I thought it was going to be a quick six-month project.
It turned out to be a seven-year journey to where we are today.
But I'm really happy with the journey because, honestly, the launch today of WCT and the exchanges, like having more than 40 million users, like with 5 million recurring
every month, uh, connecting more than 250 million connections and like flowing like billions of
dollars through WallaConnect. It's crazy. You know, like that little project just kind of blew up
out of proportion. This is a note to all the founders in crypto. This guy waited seven years, 40 million users, 250 million total transactions to launch a
So this is someone who really came in swinging in this industry and has built a product that...
industry and has built a product that so this is pretty much anyone who interfaces with crypto
you could say has somehow somewhat used wild connect right especially on mobile like it really
depends where you really like uh to interact on the blockchain you know for example we have a lot
of users that use safe you know whether use Safe for personal use or for Teams,
that all goes through Wallet Connect,
whether you use any of the mobile wallets that all goes through Wallet Connect.
And even sometimes you might not even notice that something uses Wallet Connect
and it's using under the hood,
because it really just kind of creates this user experience
that you don't need to think about, right?
like magic it feels like magic and that's why it works really well and that was always the goal
and one of the biggest challenge was when we actually announced the token in September we
realized that we now have a problem that we actually have to explain how it works and nobody
actually knew how to work so I'm really glad that that we have 36,000 people in myriad markets researching everything
because there's 36,000 people now
that actually know how this works.
And I'm really happy about that.
Dude, 380 million, no, 38 million.
Yeah, that should be 40 now.
That's actually out of date.
Can the devs please do something?
If they're watching, they should be fixing that.
I made it in my research.
I mean, look at these names.
You know what I like about you guys?
You're one of those sleeper products that absolutely every single people use.
And it's massive, but most people don't really know about it because it's more on the boring side like you don't really pay attention
to how things work and so tell us more about like how does it work and like who's really building
wallet connect well when you actually build an application the first thing that most people do
is actually install an sdk you know whether that's like Rainbow Kit, Privy, like re-owned app kits,
Dynamic, like these SDKs kind of like abstracts a lot of the complexity of building an app.
And one of the key parts of building an app is actually you can't interact with the blockchain
without the wallet. So this is where Wallet Connect really comes in, because obviously you
would imagine, oh, this is something is something that you know you just kind of
like it just works but it didn't it wasn't designed like that like blockchain companies
are focused on scaling and throughput and all of that stuff like wallets almost become like
last thing that they actually think about and obviously wallet developers they have to compete
and they are not also incentivized to work together. And this is where Wallet Connect
really comes in, because it's not just interoperability. It's this diverse ecosystem
of people working together for the same goal. And the only reason it works is because this
infrastructure was designed in a very neutral and unbiased way that it works with any wallets
without any preference any blockchain without any preference and with any app so nobody can
complain that someone is being favored over someone else and that's what created this massive organic
growth where you know it started as an idea but now everyone gets it that this is a requirement
to build on a blockchain and so you know it's i mean i was on the website right now it said you know you guys just had the
airdrop season one you know 30 million thousand users 3 000 apps 600 wallets um you guys have a
huge ecosystem so i was talking about how you know you waited seven years uh to to actually have a tg
so then why why now and like why do you guys need a token? Like where does that come into play?
Yeah, I feel like the first thing that you should consider as a founder is like, you know
Don't launch it open if you don't have product market fit like you build the technology you build an app you build a wallet
if it hasn't actually got any adoption and when when I say adoption, it's like in startup world,
they always explain product market fit as like,
there's just this invisible force that just draws you in.
Like that was something that was very easily felt
with Wallachnec around 2020, 2021.
Like the NFT market was just starting to come up
and like everyone just needed Wallachnec for yesterday,
you know, and this ended up ended up drawing a lot of resources.
And that's actually when I did my first VC round,
which was like, guys, I can't keep up with this.
This was a hobby project of mine and it got really out of hand.
And now I actually need to hire people
and build this infrastructure for the world.
And then it just grew completely to be
And then we realized that we have
the standard in a way that
everyone gets shut down. And this is not a good
It does feel great when we reach
the scale, but at the same time, it's like
can I sleep at night knowing that if something happens, people are not going to be able to connect their wallets?
And this is where decentralization started coming into the picture.
And I like to think that there is also, after product market fit, there's token market fit, which is like when the market is just demanding that I want to be able to use you without having the risks of actually you getting shutting down
or you just fail at your job or you were sleeping,
And this is where we started onboarding more node operators into the network.
And obviously, you onboard node operators, they need to be incentivized.
And the best tool to keep everyone incentivized was the token.
And so we really went into the last mile to actually launch this token.
Like when everything, we didn't have any other resource.
I mean, this must have been, I mean, Tyler,
do you have some of the numbers, holders, et cetera?
Because that was a big, that was a really big open this morning.
I know Tyler was following it closer than me.
Well, I was looking at some of the network growth numbers from March
and some of these new records.
So let's just go through some of these.
Total connections up to $274 million.
That's up $18 million in March.
Unique wallets up 5% in March from $40.7 to $42.7 million.
Monthly active wallets up 28% year over year to 4 million.
Let's see, integrated app products up to 61,500.
So the month over month, this continues.
I think that's what I really like about building WalletConnect.
It's like we don't really feel bear markets.
The demand for building blockchain is there.
January, February, and March, everyone was super bummed out,
and the sentiment was super negative.
And I really don't know what people are talking about.
We just have so much work to do, and we have so many people pinging us for help.
And builders aren't there.
They're not in crypto Twitter saying, this is bad, this is good.
They're just out there, really focused building.
And the first thing that they come up is like, I really need Wallet Connect to do X, Y, and Z.
So we just have a lot of customer support.
How many people are working on Wallet Connect?
So across the Reome team and the Wallet Connect Foundation, we're over 50 people now.
I was expecting like 250 people.
50 people with a company this big in terms of numbers.
That's really, really impressive.
So congratulations on that for sure.
And then last question for you, Pedro.
Obviously, we're talking about all this usage, all this usage, all these connections via the network.
So how much value is actually flowing through that network?
Yeah, this is something that we have had some estimations about how much value is actually going through the network. It's definitely in the billions, the amount of transactions that go through us is amazing. We have some estimates, but we so it's all end-to-end encrypted. So any information that we have around value is self-disclosed.
And this is something that more app developers have actually started doing,
self-disclosing, because it also provides them more insights over their user base.
And through those insights, we actually have been able to see
that every month there's more and more value.
So yes, like I said, it's not just developers, it's actually users.
And as you saw, the number of connections is growing.
So the number of connections now ranges around 20 million per month,
which is way bigger than the 7 or 8 or 15 that we had last year.
So there's more connections.
And one other metric that we noticed is actually,
not only we have more connections,
we have more connections per user.
So the average user used to connect like one, maybe twice.
And now we're actually going to the three times average.
So people are actually doing more stuff.
You know, it's not just like using one app,
nfc they're actually trying different things wow this is this is all super interesting like you
guys have one of the best outlooks into the industry right so like i think people like beyond
like the whole wallet connect uh pitch here like people need to they read between the lines like
people love to complain about the market usage,
but there's more than just the price of crypto. Like you guys have literally,
so many users and you're seeing these numbers go up.
I think the most important,
the best part of this is says repeat users.
So they come and they stay and they repeat activities.
So they connect once and they're done.
They're actually active and they keep on going
and going on that's awesome that's uh that's why i really like the monthly recurring users more than
even the 40 million like 40 million is cool that sounds amazing but like seeing five to six million
active users like every month like those are people that just keep coming back you know
those are actually actually power users.
And the number is growing.
Listen, Pedro, congratulations on everything.
WCT token went live today.
You can also earn up to $150,000.
Well, I connect tokens up for grabs on myriad.markets.
Hey, make sure you check it out.
I mean, it costs nothing.
And on top of that, you get to do research on one of the great companies in this industry.
So Pedro, thank you so much for being our partner.
And thank you for coming today.
Thanks for having me, guys.
That was, dude, this is crazy.
I remember hearing this for the first time in Hong Kong.
I was like, what the fuck?
Your time has come to shine.
You no longer need to leave the show at the end of it.
Keyboard Monkey was supposed to come, but he's not here.
He's fine, but I said quarter two, so he's going to come now.
I know there's a lot of issues with not Wallet Connect, with Raffle Ball.
Look at this, my favorite bear.
You're long like one hour every two weeks.
I had the longest yesterday or the day before.
Days don't even fucking matter anymore.
They're just bunheads together for me. Just some meetings. I really don't remember a day or the day before. Days don't even fucking matter anymore. They just buttoned together for me.
I really don't remember a day of the week anymore.
As a founder, it's kind of crazy.
I actually have not remembered going to sleep for about two weeks now.
I don't remember being asleep.
Just like, oh, I'm going to go up.
How are we doing this today?
There's nothing wrong with it.
It's just, one, it's case sensitive.
And some people are not doing it case sensitive to their username.
We're going to fix that overnight.
Two, some people have already used Mando Minutes.
They're still trying to connect up.
You've got to make a new account.
Three, a lot of people are using their wrong username.
So we've seen some errors and some issues.
That's on OVS. It's not RaffleBot.
The other side is that we manually have to upload extra.
As people join Ye join um like today
we can only upload them the next day so we've got as many as we could do today we've still got
plenty of people we've got over 100 people in today we're going to pick two and we're going
to run it um i don't think if they're on stage if they you know if they can come on stage today
we bring them up and we go with it but because we didn't set as a rule today i think we just
pick two and we just go with it.
If they're here, they're here.
But going forward, people will need to come up
and claim their prize as normal.
Look, like we said, this is day one.
What was Frank Degas' famous line?
Okay, so who's doing the raffle, though, since?
Yeah, I've seen, like, a massive spike in sign-ups, actually, today.
Well, that's the thing we've got.
Those people that, like, signed up in the last 20 minutes
are not on the list that I imported earlier,
so that's the issue that we've got.
If you guys have signed up using Mando Minutes ref code or Wizard of Soho or
Cook, delete your accounts and make a...
Sorry, man, I'm doing my job.
Oh, no, make a second account.
You don't want to start a war here.
You don't want to start a war here.
Wait, they can make a second account, right?
Let's see if they're on stage.
Now we'll do the second one.
Mr. Chenevich, request to speak.
I've met her if you are on that. It's true. It's true. Sunny days is I know sunny days. I've met her if you're on.
Sunny days is here as well. Both here.
Oh, shit. This is going to be fucking fun, lads.
Lads. Lads, lads, lads, lads.
Lads. This is going to be fun.
Okay. So since they're both here, we're going to let them decide.
So Mr. Chanovich, we'll go to you first.
Sonny, we'll go to you second.
Mr. Chanovic, can you hear me?
I was like, I can't hear him.
Mr. Chanovic, you need to unmute.
You don't have to, but if you want...
If they want to, then we have more fun.
DGN ties in there already.
Are we doing... Look at those ties.
How many people have signed up using our affiliate so far?
Okay, okay, okay, okay, okay, okay, okay.
Well, since Mr. Chanovich looks like we can't hear them,
we're going to do what we set out to do first.
So here's what we're going to do.
Mr. Chanovich, you've already made $500.
So what's for sure is that we're going to send you 500 USDC
or however the money is in our account.
But now what we're going to do is you're going to get two runs of lamb chop,
But see if they were there,
Also close the chat in the top corner.
I'm at the screen bigger.
KBM can decide when you stop.
Can I decide when you stop?
Can you get sound for Lanchot?
It might be how the screen share is.
It might not work on for Oxide.
When I have the whole... Man, can y'all stop asking me if a casino is available in the U. Yeah. When I have the whole...
Man, can y'all stop asking me if a casino
is available in the US in your location? You know
what to do. Just take a flight.
So what difficulty are we doing it for Mr. Chanovich?
Alright. The first one's on easy, so I go like
this. Alright. Click a multiplier to start. to start you guys ready should we go all the way
choose all right yeah okay oh oh already you want to take them oh wait wait oh my god
all right one more run for mr. Chanovich. Okay.
You've got to decide if you're going to bank.
They've already banked $500, so they've got to go to win.
Yeah, they've already banked.
So, are we just going to make it?
They've just requested again.
Let's see if we can get him for the second go.
Are we just going as far as we can go, then?
Well, I kind of want him to...
I mean, you can't really.
No, you were going to get all the way, right want him to... You can't really. No, you would get all the way right off.
What difficulty do you want your lamb chop at?
What the fuck is that, man?
Can you see the screen leave it on easy
and tell him the numbers as you go along
and you'll say go again or bank it
for sure when we get that back tonight
you have 300 go again or keep going Coinbase will be easier. Coinbase will be easier for sure when we get that back tonight. I'm going.
You have $300. Go again or keep going?
And by the way, keep in mind that you've already banked $500 cash.
Unless he wants to eat at the end of this and go for it.
Do you want to keep going?
What do I have right now?
You've got to tell him the next jump, though.
Oh, really? Okay, let's go one more time. Last time. It could just die. Oh, really?
Okay, let's go one more time.
What's the max win, though?
Go to the max win. Oh, you can go to thousands.
Oh, yeah, let's go. It's close to $4. The next jump is 424. Do you want it? Oh, yeah.
There's eyes in the bushes here.
Or do you want to bank it?
What are you saying, Tyler?
Amanda? I say you yeet it. You go for it. Tyler, what are you what are you saying tyler manda i say you eat it you go for it
tyler what do you say you've already banked 500 by the way no matter what happens you've already
been i already banked 500 oh yeah let's not be greedy i've been about too many times being greedy Oh, you want to cash? You want to cash it?
I can go to thousands, did you say?
Yeah, but you could also lose it
If you cash out now, you can make 900
If you want to keep going
you could make up to 1000
but you could also die and make 500 only So what do you want to keep going, you could make up to $1,000, but you could also die and make $500 only.
So what do you want to do?
Go for $1,000 or continue and chill?
No, I think this is actually chill.
Oh, you would have got $7,000.
You would have only made $771.
Okay, so that's a good play.
So that is $900. He's won a good play. Okay, so that is
Mr. Chanovich. Alright, Sunny Days,
Hey, guys. Thanks, dudes.
Have a good one, Chanovich.
Alright, Sunny Days, I can hear you.
Do you want to risky click for this one?
This is the same game base
So sunny days, can you see us on screen?
Yeah, I have you in the live and I've got the chat up here. Okay, perfect
So just so you know, you've already banked $500.
You already start with a $500 win no matter what.
Second of all, you, if you're watching with us, then you can tell us where to stop.
So I'm going to click on the first one.
Keep going. Yeah.. 297. Keep going.
I feel lucky about it about what did you say?
Keep going my video legs. Yeah, let's keep going. Oh
I like you sunny days. Oh
What do you feel like doing?
Now it starts to really jump in
Okay Okay Let's go again. Careful!
I'm on my cell phone in my car, so I can't see.
You've made 650, but the next one is at 771.
All right, so you're at 771.
I'm going to bank it. Okay. I'm gonna bank it.
Okay, good run, good run.
Well, it's still pretty good money.
You still made our money.
and this shows you how much you would have made.
And that one would have gone to $5,000.
But it's okay because Sunny Days, you made β she made what?
That's a shitty spot to die anyway because you get to that last one more before barn, you probably would take that made 15. Yeah. That's a shitty spot to die anyway,
because you get to that last one more before barn,
you probably would take that last jump.
She was really going for it.
She made it past the railroad,
And she's made about what?
and we're already giving away like
2000 something 2350 dollars yeah that's not bad thanks mando thanks kvm free money
that was that was a lot of fun yo thank you study days well look that was intense we're gonna keep
polishing this um i like the
coin race but i have to say lamp chop on camera is a fucking movie and with that y'all we'll see
you all tomorrow morning 10 a.m eastern stand time for another episode of film hour on rug radio
let's go Thank you. so Thank you. so