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FOMO HOUR: Recession Fears Grow, Another Trump Token Incoming
Recorded: April 30, 2025 Duration: 1:00:40Space Recording
Short Summary
In a dynamic discussion, crypto enthusiasts explored the latest trends in token launches, including Trump Media Global's potential utility token and significant fundraising efforts by Telegram and BlackRock. The conversation also highlighted the impact of macroeconomic factors on Bitcoin's performance and the emergence of new projects like Dingaling's token launchpad, showcasing the evolving landscape of cryptocurrency.
Full Transcription
Thank you. Thank you. GM, GM, everyone.
We're going to start the show here in just a minute.
We're still getting our speakers up on stage while we wait.
Some shout-outs.
FFV, Bongo, Cyber Nomad, Meg, GM, Elder Mill, Harry Krishna, T, the homies,
GM, GM, Bill, Kipa, Porya.
Shout-outs to you all, GM, GM.
I know, Banzai, Interots, Kalifo.
Who else we got?
Bomsky, Chad.
Hey, Chad, GM.
Thanks for joining us.
DMACC, Mr. B, GM, GM, RIC. FOMO hour in the house.
I see Myriad in the house. All right, Sims, whenever you're ready. Let's kick it. Thank you. so
Good morning. Good morning, everyone. GM, GM, and welcome to another episode of FOMO Hour.
of FOMO Hour. Today, today is Wednesday, April 30th, 2025, last day of April. In the books here,
folks. And sadly, our green streak is over. A bad GDP report in the US has set broader markets
lower. Recession odds are up. Crypto not immune from this drawdown. The board is red. Now the question on our minds, was this last rally
a bull trap or just a blip on the way up? We're going to break it all down on today's show.
Manda will be joining us here in a few minutes, but we've got Logan on with us. Logan, GM,
how you doing? Hey, good morning, Tyler. Doing well. Not too much to report. Weather's beautiful here, as always, and feeling pretty good.
Your final week in Peru. Enjoy it.
Yeah, just a few days left. I'm going to miss it. It's going to be bittersweet. A long time here, but I've enjoyed it.
And maybe you will be shocked when you return and see what prices are in the U.S. Because according to this GDP report, inflation is spiking.
I'm going to be shocked.
I just got dinner actually by myself last night.
My fiance was out with some of the other students.
And I just checked my credit card statement just randomly.
And I noticed that the burger that I got, which was excellent, by the way,
was $7, a burger and a drink for dinner. That's a good price. Yeah. Well, now you know
that if times are tough, you can just go back to Peru and try to save some capital. Folks,
what are we talking about on today's show? We're going to start with the market report,
recession fears, looming odds of rate cuts going up, though.
Perhaps a silver lining.
Crypto had been shopping, now dipping.
We'll see if Bitcoin 93K holds.
Might do a little look back.
Trump's first 100 days in the books.
The first crypto president.
Also, some news out of Trump.
Very related.
True social.
Exploring a token and a digital wallet.
What is that going to mean for markets? We've got a scandal brewing with movement. Some new details were leaked here this morning.
More tokenization headlines. BlackRock's tokenizing a fund. The TUN Foundation is launching a $500
million tokenized debt fund. We've got the NASDAQ. They want that Doge ETF. They're pushing hard for
the Doge ETF. The sole trenches, folks, they were on fire,
but maybe they just local topped. We'll talk about that. A new token launch pad from Dingaling
and a whole lot more. Before we dive in, shout out to our partner, Wallet Connect. Wallet Connect is
the connectivity network shaping the future of on-chain UX. If you've connected to a Web3 app,
you've seen Wallet Connect. That blue logo, it's everywhere. An icon of trust in crypto as recognizable as Visa at the checkout. If
you want to learn more, follow at Wallet Connect on X and Telegram. Stay ahead of what's next.
Folks, yeet. We've also got a yeet spin at the end of the show, so you want to stay tuned
for that. Folks, we've got Mando in the house now.
Mando, Jim, how are you doing?
Jim, guys, how are you guys?
Oh, just trying to survive our first red day
in what feels like a week or so here.
But I think we'll be able to get through it.
If you're ready, without further ado,
I say let's just dive right in to the market report. Let's dive through it. If you're ready, without further ado, I say let's just dive right in to the market report.
Can you dig it?
Yeah, so this is definitely a day where macro kind of derailed us slightly. We'd had
basically a whole week of gains in stocks. And then today,
we had kind of like a double whammy of bad data. Firstly, we had preliminary GDP numbers
coming out of the US, which showed a contraction, negative 0.3% versus 0.3% expected. That's not a great sign.
Remember Q1,
the majority of these tariffs hadn't even happened.
So definitely not a good look.
And then core PCE,
which is the inflation rate,
also came in quite a bit above expectations at 3.5%.
So even before the tariffs came in,
largely,
we had a slowing economy and higher inflation.
This is classic stagflation
that people would point to.
I don't really know for crypto
in this sort of environment.
Crypto in a stagflation environment
is not necessarily the worst possible thing,
at least for Bitcoin.
But it's not a great environment
often for stocks.
Higher inflation, lower growth is normally pretty bad.
And it also points to how hamstrung the Fed can be in dealing with it, remember?
Because if inflation is going up, the Fed actually can't do that much.
So definitely not like a great scenario here for macro, at least.
In terms of how the market reacted to it, I mean, Bitcoin's down a little bit again,
down 2% on the back of that. Bitcoin dominance is about to hit 95%. I think it nearly did actually at one point this morning. Sorry, 65%.
So Bitcoin
holding up again much better than everything else.
We kind of
saw a nuke. Not really a nuke,
but the stuff that had been running
up all got bashed down straight away.
So like the AI coins,
the meme coins,
all not having
a great day, probably down around around 10 i would say on average for
some of the major uh well maybe like yeah five to 15 kind of range for a lot of these coins down
um so yeah not not a great great day for for like the more risky stuff and probably just points the
idea that we're not out of the woods from a macro perspective.
But interestingly, like Bitcoin's narrative has been kind of
that doesn't matter recently.
Like it's more that, you know, global liquidity is going higher
and U.S. hegemony is going down and Bitcoin's a hedge for that.
I kind of think that that also increases with these sort of figures.
So I would be unsurprised if Bitcoin bounces here or doesn't have as bad a day as you maybe would expect it to, despite stocks having a weak day.
I think we'll outperform again on the back of this.
Stocks look like they're having not a great day today.
Like they're having not a great day today.
You've got the NASDAQ looks like it's down about 2%, 2.5% right now.
So yeah, that's nearly 3% actually.
But interestingly, gold is going higher again.
Gold had had like a bit of a dip and it's interestingly bounced as soon as that figure comes out.
So I think that's basically what I'm saying again.
I think this is just another world where Bitcoin dominance goes higher and people maybe get
even more scared about the macro prospect for the next year.
Trump's basically come out and trying to blame everyone else.
To be fair, this is Q1.
So again, this is probably before a lot of his policies have kind of come in, but I wouldn't
say his policies are necessarily
going to
make him better.
Yeah,
I think that's a fair assumption. We've
seen him come out and say
this is Biden's stock market, not Trump's,
which aligns with some things he said earlier, but
now I've seen the screenshots as well where he said
this is our stock market.
So on the green days, it's his.
On the red days, it's still Biden's.
Not a massive surprise.
Head by wind, tail he lose.
Art of the deal.
Know that game well.
Art of the deal.
Wes summarized it here.
GDP down, personal consumption's down,
and then inflation was up, prices up.
The prices up really surprised me.
I'm not going to lie.
That was my most surprising take from all this.
I actually thought, I had seen forecasts
that Q1 GDP was going much lower than this, actually.
So I thought we all just knew that that was coming.
So I was a bit surprised.
The Atlanta Fed
regularly posts
wildly
wild GDP figures
which are way off from all
the other Feds.
Because often different states have their own
Federal Reserve essentially.
And they always get picked up by the mainstream media.
Yes.
I think they predicted negative 2.5% or something.
Yeah, I think it was 3.7% at one point, I think I saw.
Yeah, they are always wildly off.
If you want to just engagement farm, you tweet about what the Atlanta Fed thinks.
Good to know.
And they were really low um i think most people obviously there was a
broader prediction this would be like 0.3 it would be lower but not as low as that
this going down it's just i think it's just it's just bad because it's q1 like remember
liberation day was was april 5th. Was it?
Yeah.
It was an April beautiful day.
Inflation,
true inflation is still low.
So like,
yeah,
that's still an effect,
but this is what surprises me.
This,
this does surprise me too.
Like I've been genuinely surprised at this because of what I can tell, there is some,
there is some real inflation going on in the US.
There was this headline yesterday that Trump was fighting with Amazon
because Amazon were going to say the prices are going up because of these tariffs,
and this is how much.
Amazon aren't trying to get price gouge here.
price gouge here. Amazon
Amazon are always trying to be the lowest cost, right?
are always trying to be the lowest cost.
I was surprised at that
that
truflation has stayed low because
I do think you guys are going to have
some inflation here on the back of it.
Maybe truflation is obviously more of a lagging
indicator.
It's not a
forward-looking indicator.
I think it's the disconnect that's been what's surprising
slash confusing to me, is how this can be so low at 1.6%.
Now we're seeing 3.5% via other reporting mechanisms.
I guess as a consumer, I don't feel like we've seen price of goods
go up in Q1.
In fact, I think there's a lot of things that are cheaper.
Gas is cheaper.
I'm pretty confident, which is a big one.
I guess maybe I don't have my finger on the pulse of rent.
But I do believe that, yes, we will see it go up.
Like the tariffs increasing prices, I think that's hard to argue with with i'm not going to argue against that but we haven't really
seen that hit yet like i i get it for q2 in looking ahead um but i was surprised to see a
lagging indicator showing at that one much higher i think the other piece here which is still like
maybe counterintuitive to me is the the c now pricing in 41% chance of four rate cuts by the end of 2025.
And five cuts still at 28%. So 70% chance of four to five cuts in 2025. But on the flip side,
if you're dealing with inflation in your pallet, how do you cut rates with looming inflation driven by tariffs?
So are they just betting?
Yeah.
That's quite an aggressive position.
I didn't realize it was pricing in that many at this stage.
It's difficult to know, right?
What are you going to do with your power here?
If we start to go into a recession and inflation starts rising,
I don't know if rate cuts would be the tool that I would use.
Do you know what I mean?
Cause they're like the most obvious tool,
but he might just like turn on QE rather than like do rate cuts.
That's what I would do if I were him.
Like I'd try and like increase money supply,
but not wire race cuts,
basically.
Something's going to give.
I mean,
a lot of folks are betting on that something giving.
And I think that's a part of the bull case.
And I think that's a part of the bull case.
And Bitcoin still does feel like it's,
I don't know if I would say outperforming.
I think broadly outperforming today,
it's down 1.7%.
That's basically in line with how
the stock market indexes are down.
ETH down 4%.
SOLD down 4%. SOL down
4% here
as well.
Running through
a few of the other headlines. I won't get to the
Trump stuff here in a minute.
Mando, I saw you tweet this out this morning.
I'm not sure if you had a chance to dig into this.
It's wild.
The scandal for movement.
So Coindesk is leaking all the contracts tied to this.
Effectively, Movement Foundation signed this deal with Webport Labs
to give them a good chunk of their tokens.
And they had a clause in their contract that if Move
hit a $5 billion valuation, they could
sell.
Which Move did, and then they instantly
market sold. Which I believe
led to the Binance investigation
of them. I've not had a chance
to dig into this.
But curious if you had a take on this one.
Mando or Logan.
I think this follows up from what we saw pretty recently with Mantra, right?
There's clearly been some deals from some of these L1s or VC-backed projects.
I mean, everyone's trying to point the finger of blame at market makers,
but these people get into deals with market makers who basically say,
look, we can be culpable.
Give us all your supply.
We'll sell it for you basically.
And obviously has to hit certain levels,
but we will sell it for you.
And I think that's what happened,
really what happened with Mantra.
Similarly, there's some talk about happening
with things like story protocol.
I remember that went down a lot at one stage
and there's been a lot of expectation
that they might be involved in something here.
And then finally it's with Move. I with with move i mean a story i don't know but i just i know
i've heard other things around there but um yes it's just clear that some of these you do get
involved in these sort of deals and these guys at movement they they gave up 50% of the circulating ecosystem supply for this 50%.
And then they've turned around and said,
we didn't know we got duped into this.
Somebody did this,
but it wasn't me.
We're all trying to find the guys who did this.
It's just hilarious.
We will get to the bottom of the pipe we're gonna do an internal investigation how did that libra investigation
go with meow by the way and anyone anyone checked in on those guys recently jeez um
yeah bullet internal investigation by investigation by Web3 companies.
That's what's going on.
The movement team are going to get to the bottom of what happened here.
Okay?
You can rest assured.
They're going to get to the bottom of this.
They made $35 million. We are going to find out what happened.
I think basically the takeaway for me is if you're watching any of these altcoins
and they're showing explosive price action that doesn't
really jive or pass the gut test,
maybe something else is going on.
Unfortunately, we've seen that play out a few times
here this year. I'd be surprised if we don't
see it again. i think that's
another unfortunate takeaway um quick quick side folks if you are watching the code for today is
house raffle bot code is house uh for the for that eat action later on in the show um well those are
some of the headlines i'll go quickly through a few others. Let's see. We'll get to Trump here in a second. A few tokenization headlines. Telegram,
they're launching $500 million on-chain fund to tokenize their debt, access to $2.4 billion
in debt from the Telegram Foundation. That was a big one. BlackRock announced something similar.
And then SoFi announcing return to crypto under a more crypto-friendly, deregulated Trump administration, which might be a good segue to Trump's first 100 days.
So Logan, we were chatting a little bit about this before the show.
And Mando, curious for your thoughts as well.
Focus more specifically from a crypto standpoint.
Curious for your thoughts on Trump's first 100 days in the books and maybe a
grade rating, A to F.
Yeah.
Well, if you scroll through this article,
which I highly encourage everybody to do from Liz at the crypt,
it's a good summary of all the things.
There've been so many headlines over the course of the last few months.
It's a really good summary of things that have actually gotten done,
many of which were hoped to have been done a long time ago,
and the previous administration put either the kibosh or an outward attack,
in some instances, against those things.
So, yeah, it's what? crypto broker rule, right? The first
pro-crypto legislation signed. You have the pardoning of Ross Albright. You have, my gosh,
there's so much else in here, right? You have the strategic reserve. There's a lot of things that
were promised or that were said or rumored whilst Trump was on the campaign trail that pro-crypto people were excited about,
that he actually either made inroads towards or literally got done. And so I think if you're
viewing this from a crypto lens and you remove maybe the meme coins, which are not included
here, right? That's not like policy type stuff that's included here. I think the grade is pretty good. It's probably in like
the B minus range. It might even be higher. It's tough for me to extract the meme coin stuff.
I don't think you have to. I think that's a part of it. So I want you to include that.
Yeah. I think if you include the meme coin stuff, I think, yeah, B minus, C plus,
and I could see arguments for a little bit lower just because that is the stuff.
And when you talk about movement and all the shady stuff going on here, those are the types of things that bring on the scrutiny and warrant detractors and warrant people considering that this industry is like not so serious, like, because many times it's not. So those are the
things that I would say tremendously bring down the grade, you know, although the world liberty
financial stuff, the, you know, potential enrichment of Trump and his family via these
things that he didn't need to probably do, like launch two mean coins. Those are the things that
I totally understand
would bring, and I personally would ascribe to bringing the grade down significantly.
Otherwise, the pro-crypto things that have gotten done have been largely exciting, I
would say, for somebody who's actively participating and working in the space.
Yeah, I made my list before I kind of went through the article
of things that I could remember him getting done.
So Bitcoin Reserve, top of the list,
some pro-crypto appointments,
helping to change the SEC guard,
SEC then going on to effectively drop all their lawsuits
pretty much across the board.
Most would say were kind of wrongfully brought in the first place.
Stablecoin legislation now already in process,
increased M&A activity in the broader crypto space,
returned to the U.S.
SoFi, the latest bank saying,
hey, now we're going to come back and launch full crypto services,
freeing Ross.
And I missed a few of the others from the article,
like setting up the crypto task force,
having that first crypto roundtable, and a few other things.
So I think objectively from a crypto lens, the crypto task force having that first crypto roundtable and a few other things so i think
objectively from a crypto lens a pretty wildly successful first 100 days from a policy standpoint
i would give it an a but coupled with the meme coin coupled with world liberty fi coupled with
now this true social token i i'm down i knock it to a b minus
and you i could i could listen to an argument to take my grade lower because it really does
muddy all this it changes the political calculus and it we are at an increasing rate of if the if
the guard changes will the other team try to flip some of this right that's what
sorry tyler i was reading an article from the hill um you know more political focused publication
about this this sort of same thing right the first hundred days under trump and the the crypto
reflection as well uh you know there and there's some mention in there about Democrats that, you know, previously may
have been willing to listen to bipartisan bills about crypto feeling like if they now sort of
submit to this, that they are becoming too pro Trump in their constituents eyes, right. And
that's all that political stuff that if you are, you know, if you're on the other side, if you're anti-Trump, you know,
for whatever reason the case is, and you see these headlines, like yesterday, Truth Social
may be doing a token and, sorry, Trump Media Global, whatever, may be doing a token and
Trump enriching himself in that way. Like, I get it. I get it. He doesn't, it doesn't need to happen.
And it feels grifty and it feels bad.
And those are the types of things that could set back a lot of the progress that has been made via policy and regulation thus far.
And if you recall, the the elections this last fall elected a lot of candidates that were pro-crypto from both sides. And you don't want to lose
those as a result of something
silly because Trump had to
keep getting rich on the next
token. Totally
agree. Mando, curious for your thoughts from
more of
a global perspective
outside the US. I think you've
both hit a nail on the head. I think that's the feeling for everyone.
At least within crypto, I think you couldn both hit the nail on the head. I think that's the feeling for everyone. At least within crypto,
I think you couldn't really ask for more,
but it's been tarnished,
I think by just efforts to potentially personally ingratiate himself and,
and kind of the family.
It's very,
very clear that when Trump leaves office,
he's actually going to be still in like a very prime position here in U S
crypto.
He's kind of set.
This is his retirement plan.
In my opinion,
like the Trump Trump is going to be,
is kind of setting himself to be very much center stage in crypto post
office.
and so is the family.
So I think,
let's see where that kind of goes.
I don't think it was necessarily needed,
but maybe it wasn't necessarily needed,
but perhaps we were all naive to think
that you didn't need somebody
who was going to be massively personally incentivized
to push all of this stuff through Washington.
So maybe we're slightly naive about that,
but it does feel as though
that's that's got in the way of stuff do I feel like it's it's gonna get in the way of stuff
long term less so like less so I do think there's part of this like crime season meta that's gonna
come in which is perhaps not great and probably will continue for a while, I think. But I would say most of the long-term stuff, like in 10 years,
I think we're going to look back and be like, wow, he's really positive for crypto. It's just,
it's kind of, we're going to make sure we take a slice off the top feels kind of banana
Republic-y for the US.
Yeah. I think that's very fair and
unruly aligned. I feel like we just can't get there because there's always
this chance that he's just going to do something over the top and it's all
going to come crashing down somehow. We just have to be
on our guard. Let's get into now the transition
to the latest news. So more Trump tokens perhaps incoming.
Logan, you wrote the article.
Walk us through this one.
Yeah, this broke yesterday near the end of the day.
Shareholder letter from Trump Media, Trump Global Media, which is a publicly traded company.
company. They have Truth Social, of course, the kind of like ex-Twitter clone, right, that was set
to free Americans who had been kind of de-platformed or banned from Twitter or whatever the case is.
They also have a streaming platform called Truth Plus, same sort of thing, streaming, video
streaming. And they announced TruthFi back in January. But all that being said, they are looking to potentially
launch a token and a wallet to kind of provide a utility, a utility token for this ecosystem,
the Truth ecosystem, those three products that I was just mentioning. So yeah, it says here that
quote from Devin Nunes, as part of a rewards program, we're exploring a utility token. There's
no mention of crypto or there's no mention of blockchain. But I think you can draw the lines
here given Trump's connection to them and all the other connections to blockchain from World Liberty,
et cetera, from his family as well. So we don't know exactly what it might look like or if and
when it may come, but we do know the other products.
For example, they applied for ETFs, TruthFi, that one arm.
Oh, that's right.
Yeah.
Yep.
We do know that those other products, per that shareholder letter,
are anticipated to be out there this year.
They're expecting to get them out there this year.
One is a Bitcoin ETF.
They're all America first themed.
So there's like a mix of crypto, um, and traditional
equities that are, you know, America first that people will likely be able to invest in. Uh,
Trump global media said they're going to invest right alongside. Uh, and they did also in January,
and I think it's, it's reiterated in the letter yesterday, uh, indicate that they are going to
use up to 250 million of their cash reserves
to buy things like Bitcoin and other cryptocurrencies as well.
That's kind of an aside.
I missed that part.
Yeah, I think it's in the article, maybe near the bottom.
It may have been edited out.
I don't know.
But anyway.
Yeah, we'll have to look for that.
But the broader story, another Trump token.
So we had the Trump meme.
We've got Melania.
We've got the World Liberty Phi token, which isn't tradable yet, but it's coming.
So we've got three.
This will be number four.
How many Trump ecosystem tokens do you think we have by end of his presidency?
What's your over-ender?
Oh, my gosh.
We're at four now.
I mean, it wouldn't shock me to see 10. I don't even know because what will end up happening
here is they'll make a bunch of money on a truth token, right? I'm of course speculating, but like
they'll make a bunch of money on a true token. And then they'll decide that the token for truth
five should be different than the token from TruthPlus because they made a bunch of money on the TruthPlus.
And then there'll be a token for TruthSocial as well.
And then all those tokens you can exchange for the overall ecosystem token.
I don't know.
Barron's going to turn 21 during this presidency.
So we're going to have to carry on.
Barron token, man.
It's coming.
You just know by the end of the four years.
You want to have capital ready for that one.
And then you want to be ready to sell everything else.
On that note, I'm on the over 10.
I'll take the over on 10 Trump tokens by 2028.
I can't believe we're at four.
It's been like four months.
Mark, it's bouncing quite nicely here, though, guys.
All right.
The old reversal.
Wow.
By the minute.
This is nice.
Just one last thing on the Trump note, Tyler.
Yeah.
So as I was reporting that story yesterday,
basically within minutes of the first headlines sort of circulating,
Trump and Melania both snapped down.
I think it was like, you know,
five to 10% in the first hour or something like,
I don't exactly know.
It wasn't like an absurd candle,
but people reacted and as you would expect, right?
Like, oh shit, here's another Trump token.
Like, I totally get
that. If I was holding Trump and I saw that announcement, I probably would have sold as well.
Cause that's exactly what happened with Melania, right? You're just like,
this guy can't let, can't let the thing keep going all on the back of the Trump dinner news
from, from last week too. Yeah. That was my next question is what's the market impact
of a true token. Let's say it comes to light.
Is it going to be another Melania
that wrecks everything?
Do you feel like it's going to have more local...
Trump is the end of KOL.
Once a token works,
he thinks that we should get another one going.
Even if it doesn't work, we'll get another one going.
You know what?
I'm sorry, Amanda.
I don't know if it wrecks things quite as bad, Tyler, just because it is a little more insulated.
Like, at least in my perspective, like, it's not Trump branded literally.
Like, we obviously know the connection between Trump and truth, like, which is very, very strong, but it's not exactly his name.
So it might be the rest of the market might be insulated in some way.
Plus, you would envision that, you know, this is kind of the law of diminishing returns in a way like the big impacts already happened.
Like Melania was the big circle right now. We're just kind of working our way now.
Like, you know, truth is going to impact it it but a little bit less than the next one and then
the next one and the next one so maybe not as much i do think it'll send things down uh it'll pull
away but maybe not as much as it as melania did i'm pulling this up this is like a triggering image
for me and i even did i even did well on the trump of melania trades. But I feel like this is such a symbolic picture of the Q1 2025 crash
from pure euphoria to pure pain in two weeks' time.
And this picture sums it up, and it's like she's laughing at us.
Man, Melania's at 39 cents.
This thing got to $12 plus in its first day.
$13.05, I think, was the all-time high.
I'm with you.
I don't think the impact –
I saw people saying that this would be like a Melania situation,
this truth token.
I think it's going to be a smaller impact.
My view is if they're going to roll out new Trump tokens once every four –
once a quarter, once six months,
I don't think it's going to have broader impacts.
I think it can impact the Trump token.
I think it can impact the Malania token.
I don't think it's going to like cause like the AI tokens to all sell off 40%
or front coin to sell off 40%.
Right.
Yeah.
I'm with you there.
And weirdly though,
as I think about this a little bit of the tokens that exist,
the truth one might make the most sense
uh you know to exist as well which may right which may help limit a little bit of the damage
that would that would permeate the rest of the you know is or the trump family tokens so yeah
that's fair perspective like i'm not worried about world liberty's fives token because like
they've got a protocol right it wouldn't be out of pocket for them to launch a token.
Right.
You're making a similar argument.
Okay, TruthFi.
Yeah, I mean, it doesn't need it,
but if it was going to have one,
it's better than Melania having one.
At least in my opinion.
Quick side.
Do you remember the coin it?
Coin it?
Coin everything?
That meta?
From Jesse and from like last week?
Yes.
And how quickly that has just evaporated.
We went from coining everything and it being all over the timeline
to zero talk of it.
I haven't heard a mention of it.
I haven't heard the phrase.
I haven't seen the phrase since that Zora TGE,
which makes me again question the motives behind all that.
I don't know.
I just had to get that out.
That was top of mind for me.
And it is somewhat relevant because, man,
the hot thing to do in this market is to create a token launchpad.
And we've got another one coming, folks.
And you might want to pay attention to this one because it is coming along with an airdrop.
So Ding-a-ling, folks may know him.
NFT whale, just broader crypto whale, seemingly has infinite pockets, announced Boop.fun,
a new token launchpad for meme coins. The vision is to align traders, creators, and holders.
The kicker is they are starting with an airdrop. So no promises of an airdrop to come. They're
going to kickstart with that.
If I remember correctly,
Dingling was tied in with LooksRare,
the NFT platform that launched. Did you just see the,
I'm sorry,
to direct you on the coin market cap board,
Looks is in the top five tokens.
I meant to mention that earlier off actually offline,
but yes,
he was,
I believe he was tied in some way to Looks.
It is. And YOLO some way to Lux. It is.
And YOLO.fun as well.
Lux is up to him.
Why the hell would this be moving up?
Wow.
I bet it's probably speculation about Boop or something.
It would not surprise me.
But part of why I brought the LuxRare up comparison,
that NFT marketplace.
Are those things still going?
I actually haven't looked.
Is the YOLO thing? I guess
Blast kind of... It was on
Blast, right?
Oh, the YOLO?
Yeah, that was a thing.
That was a thing for a while, right?
It was. I never really used it.
As far as I know, all the products on Blast
are gone.
I can't find it on Twitter, which seems...
Is it YOLO.Games?
Oh, here it is. YOLO underscore Blast.
No tweets since March 18th, I don't think.
Do they have a link to the website? YOLO Blast?
YOLOGames.io? Okay. I don't know. website? Yolo Blast? Yologames.io?
Okay. I don't know.
It says built on Blast. I don't know
if it's still going or not.
It's still going!
Alright.
The last bet
a while ago.
Well, not a huge
surprise. I mean, I think user user activity on blast has kind of gone to
gone to zero um i'm a bit surprised at the velocity of new token launch pads we are seeing
i was even in like the nft craze we got like five but we didn't get like 20 but it feels like these
token launch pads are starting to really come out by the handfuls.
What we haven't had is a nice airdrop though. So, and I think Dingling is well connected. He's well
connected in trader circles. If they have a nice little airdrop, I think they might be able to,
to grab some users at least on a, on a near term basis. Um, and I mean, looks rare. It didn't
really steal market share from an empty marketplace perspective
but they had a hell of an airdrop so it's going to be one to at least pay attention to if you are
in the trenches and we're seeing it with the success that these rewards programs can have
with what radium has done with launch labs. So if you haven't seen this,
they're giving out 50,000 RAID tokens per day.
I think that's close to $150,000
for the people who are trading those Launch Lab tokens.
And I mean, it's working.
Take a look at their volumes.
They crossed $100 million in cumulative volume
on their platform yesterday. I mean, I million dollars in cumulative volume on their,
their platform yesterday.
I mean,
I think you can raise the question of is,
is this,
how long can the music keep going?
Is it going to stop once the rewards are done?
But it's difficult to say,
right?
This feels so similar to NFTs,
right?
OpenSea had a full cycle really where it just dominated.
There was a few people that came in, and it still just dominated.
And then by the second cycle, enough people kind of came in and decided,
look, we're going to do another version of this.
I think Radium, people like a lot more than Pumpfunk.
You know, yeah, it has some ties, like FTX back in the day.
But in general, people like the token.
It's got a buyback of the token based on fees.
Now can you create a launch pad,
which potentially people can share on the upside of.
Pump Fun, obviously,
range of different things that people don't like about it.
But I think the live streaming stuff
and the general community vibes
just haven't been great for a while.
So I think it's kind of right for someone to come in
and try and do something.
And there's just so much money still being made by PumpFun
that it kind of makes sense that it would get spit out.
You know?
Yeah.
Wild amounts.
It's a very common story.
Wild amounts of money.
Let me see if I can.
I've got the dashboard here. Give me a second common story. Wild amounts of money. Let me see if I can. I've got the dashboard here.
Give me a second, folks.
Let's check in.
Blockworks has a great dashboard for this, so shout out to them.
Memecoin activity, pump fund, token volume.
Oh, revenue.
Here we are.
April 29th, $1.7 million in revenue.
I don't know if that even,
I'm not sure if that's even including pump swap.
I'll have to take a look.
But yeah, so they're still doing $2 million a day.
I think they bottomed in March closer to a million dollars a day.
Now they're doing $2 million a day again.
So down from peak,
but I mean, still,
let's take a look at the monthly view,
weekly view here.
I mean, still well above
where we were last
August and September.
they're still showing real signs of
strength. And I think other people clearly see that, as you mentioned,
and want their own
piece of the pie.
What I am curious about is the trenches have been electric.
If you have been in there and trading, I think you've had a good time this past week.
And maybe today was the local top.
I think we saw a lot of the current leading trench coins kind of sell off this morning.
I am curious how much of that is perhaps driven by these daily radium rewards.
Is that causing a little bit more artificial action in the market?
Maybe so.
I don't think the coins that have been winning are necessarily Launch Lab tokens, though.
So to go through some of these headlines, Housecoin hit $110 million this morning.
This thing was trading at $10 million six days ago.
10x in a week.
I forgot that the RFC token...
...be so divisive for a long time in this.
Really, really divisive, right?
I think mainly because it's tied to to some of the bigger care worlds in the
space and it smells like free supply and all this sort of stuff.
And it's got this kind of like narrative, which is normally friendly,
but maybe not like super crypto friendly. You know,
it doesn't feel like our, one of our native memes.
It just kind of feels like something that boomers may talk about.
And that's a bit more divisive.
But what's your view here on this one?
Because we said yesterday this may be the coin to own if Bitcoin keeps on going
because it's a new meme and it can go to like $250, $300.
But then the higher it goes, the more hate I just see for it.
It's very different to like Fartcoin.
Which can be good. I mean, I think in general, let's put Fartcoin on the side
because it's kind of a unicorn.
You don't want a consensus play. You want the 50-50
split because that drives attention and it continues
to give you marginal buyers and people who capitulate it.
I was early to this one.
I thought we talked about it on the show.
I'd have to go back through some of the transcripts.
I got in under 10 million on this,
had a nice position.
I thought that the narrative of we're going to flip the housing market was a
good one.
I saw the zoomers rallying around this and pointing to the housing market's not for them.
We don't want to buy Boomers 10X.
So it's a little bit of a rebellion play against that.
And I saw some early personalities form around it like Lexapro,
and I really saw them commit to it.
I think you need one or two people like that in this current market to really
drive forward. And then when I saw the boots on the ground posters on the wall in LA, I was like,
okay, they've got a force behind this. And I think there's some upside. Now is where it gets
interesting at a hundred million. I think we're going to start to test where this market can go.
I saw a take that one thirdthird the market cap of Fartcoin
could be the ceiling of this.
That's a reasonable take for me.
I think if it got to $300 million,
personally, I might clip the whole thing out.
Is this a multi-billion dollar meme?
That's going to take some serious time to get there.
I struggle with this one a little bit um you were super early tyler i think you might have been five million
right or something uh when this first surfaced yeah um so kudos to you i i i like these narrative
plays this sort of like we're gonna flip this thing this thing, like SPX 6900. Like,
I actually get that as a play, right? Like, we're going to flip the S&P that that makes sense to me.
I'm okay with that as a, as a token, this one felt a little more forced to me. And I think that's one
of the reasons that I could never really get behind it. Like one house equals one house coin,
like, come on, you know what I mean um but i i i do agree though like you need
some people that are the champions of it uh you need that you need people that are committed to
it it's just going to keep pounding it on the timeline as nonsensical as it is um and so i'm
good with that it just felt a little too forced. And then I kept doing the thing where like we haven't seen a runner in
forever.
And it kept feeling like a top for me.
Like,
okay,
I can't buy 10 million because I saw it at 5 million.
Like this is ridiculous.
And then it was,
I can't buy it at 20 million because I saw it at 10 million.
You know,
I suck at buying stuff on the way up.
That's just a personal issue.
That's,
that's why I'm still,
I'm still sideline.
And I don't,
I don't think i can
pull the trigger at 100 million yeah it's a little trickier i have to say i pulled some but it wasn't
because of you tala it was because we did the right radio show with kook you're in too many
coins for me to go into the coins that you're in whereas kook doesn't get into that many so when
he said told me that's the coin i was like okay i'll buy some. Fair. Which is just good timing because that was on the
Wednesday and then I think Handsome started
mega shilling it on the Friday, right?
That's how it worked, yeah.
I still have it, but it's not a big position. It's just like
I bought some.
But it's a bigger position now,
obviously. I mean, part of the narrative
here, we talked about this yesterday,
is this
one of the new memes from this new meme
cycle?
Can it be one of the defining ones?
If it becomes
that, that's the narrative that could
drive it much higher.
I think you want to own those. There are certain
ones which obviously are multi-cycle memes,
but it's very clear to me that the memes that will pump the hardest
are normally memes like this, right?
It's like some new thing and everyone's always in profit,
so they make it their personality.
It will be something like this.
It's really just you think this is the time where Bitcoin is going to go to $110K
because Bitcoin now just ranges until June.
There's a lot of hate for this thing.
I don't know if it'll die in that time period, right?
But like the week that Bitcoin goes to all-time high,
yeah, whatever is the runner that week.
I mean, what happened with Peanut, dude?
It went to $2 billion because Bitcoin started rallying that week.
Whatever the coin is that week, that's the coin you want to own
Pups went to 900 million
yeah
but peanut was new
do you know what I mean it's the new coin
that week that has the narrative
house coin feels like that right now
but like if we
range till June I kind of sit on
the on the view that the enough people hate it and the meme is maybe like it's okay but it like
it's only okay if boomers pick up on it and i don't know if they have yet so that's what we
really saw with farcoin right like that's when I started buying Farcoin back. And I was later than you again, Tyler,
but I started buying at 250 back then
because suddenly it was on stock twits.
And you're like, okay, well, this can be a thing.
The one other nice thing about this is
it seems to be sort of like, it is the new one,
but it's also sort of like the meta leader right now, right?
It spawned a bunch of beta coins, or at least I am perceiving them as beta coins. And that is typically like a little
bit of signal that, hey, this is a winner, right? Which could help further propel things.
It's tough to go too far down. You know, you can get a two or five X maybe out of a beta, but
you typically just want to own the alpha coin from these little meta
pockets.
And I would say house coin is that at this point.
There's a question.
Is this new token land house beta disclosure?
I am in this.
I got in this one yesterday.
Has to be,
doesn't it?
I mean,
you're in something else.
I've been hot,
man.
I, I was telling since before the show,
I think I've gotten in like eight new
meme plays this week.
What was the other one you were doing?
Five or six. I'll go through the list here in a second.
I've hit like immediate two to three X's
on several of them. So Land,
closed an easy
three X, free roll in the bag
on that one.
Neat.
When I went solo on Monday's show,
I gave the full pitch for Neat.
I got in around $2.5 million on this one.
I think this one's a strong one, a strong one to watch.
Not in employment, education, or training.
Yeah.
It's this whole idea that Zoomers,
this new group of kids who are going to be graduating from college with AI taking over, they're going to be in this, they're going to be neat.
They're going to be not employed, not education, not in training.
And what the hell are they going to do?
I like this one, too.
I don't own any, but I've been pretty hands off while I've been here in Peru, which has really been bad in the last week being in chats with Tyler and
happy for Utah. You've been dominating,
but it feels a little sad not participating as much.
This was a bad week to miss.
I think everyone who flew to Dubai missed a big week as well.
Hopefully there was more upside there for them.
This one hit 10 million.
It hasn't really had any pullbacks.
So I think this is one where you got to wait.
We usually have the 40% to 70% retraction that really tests the holder base.
This one hasn't had it yet, so be careful.
But a few others, man, I'll keep rattling through the list. What else are we going to talk about here? The last five
minutes of the show, um, did enter troll. I'm not up on that one. I'm pretty much even, I think
that's an interesting one. I don't feel, I don't have the confidence in that. Um, but I get that
it's an OG meme. It's in the, it's the type of meme that could have some decent performance.
Bongo, an old bonk guy meme,
apparently has gone super viral on Steam.
It has somewhat revived the meme,
though it looks like it's chopping here.
I wouldn't say this is an extremely high-confidence play.
And then I got in on the Pasternak token.
Andy8052 helped kind of tip me off of this one.
He's been pretty loud on the timeline about this.
This is previously the founder of Clout.
He has his own token on Clout that ran,
and now he's rebranded it as a part of the Believe app
and their launchpad.
This is the token now.
It got updated on Vector before it got updated on Dex,
so a lot of people didn't know that.
And then this thing just went from $5 million to $15 million
in the last day.
And even at $15 million,
if you think the token launchpad is going to have some success,
I think they did $100 million in volume in the first day, I think Ben said.
Perhaps some more upside on that one.
So that's my book.
I'll continue to walk our listeners through the book here on a daily basis.
I'm sure you all are chomping at the bit to know what I'm getting into.
But in summary, the memes have been hot.
I am curious, like how sitting 100 million
is at a local top sign?
I think a lot depends on what Bitcoin's going to do from here.
Are we going to come back after just a quick dip?
Or are we going to start kind of grinding back down to like 88?
If Bitcoin goes down to 88, it probably cools things off.
That's my gut read.
All right, I think we're out of time. That's my gut read. All right.
I think we're out of time.
We got to get to the Yeet.
The Yeet action.
The code today is house.
If you haven't entered yet, last chance here to commemorate house coin hitting 100 million.
That is the code for today.
Sims, if you're ready, let's get into it.
Here comes the spin.
All right.
Who we got?
Sam Fazed.
Sam Fazed.
Sam Fazed.
You are the winner.
Come on up here.
Don't get the music anymore.
No, I can only have one screen.
I thought we could do the actual games with the music on.
They're on different browsers.
Just as a note to everyone as well,
we went through, if you haven't put
a $1 bet on your account,
a minimum of a $1 bet, you won't be
included. I had to remove 280 people
today because they're
all zero on account. That's 280
people removed from this.
You should be putting some money on your account
and going and making a bet on Yeet.
Those are the rules.
Yeah, we can't have bots.
There he is, Sam Faced.
We have him up here.
Get him up on stage.
He's still connecting here.
Let's give him a second.
What game are we doing now?
What do you think?
CoinRace is fun, but it's more
risky, right?
Sure, of course. Your website, what do you want to
showcase?
Should we do Risky Click today? That was a bit
fun. We have the music.
Let's do it.
All right, Sam, are you with us?
GM, you won.
Yeah, I'm with you.
Awesome.
Can we go all in this time?
All in?
I want to go all in with $1,000.
Oh, wow.
Mando?
Yeah, that's fine with me.
All right.
Okay, so the whole bag?
Yeah.
Can we do something different this time?
Can we go on coin flip?
I've been playing for a while on coin flip now.
We can.
I think let's just do this game though, right?
We can do coin flip. I think we kind of want to... It's like a less... I guess it's a do this game though, right? We can do coin flip.
I think we kind of want to...
It's like a less...
I guess it's a less fun game.
Yeah, it's fine with me.
If you want to go to any other game.
Let's stick with risky click.
It's easy for us to control from this side.
Okay.
All right.
Sam, I love your risk on here today.
$1,000 risky click.
All right.
So the way we play it, you'll give us a number one through nine.
So one is 1.2, two is 1.3.
Do you like to have one round of 1,000?
Do you want to have two 500 rounds?
Oh, two 500 rounds.
Okay.
That makes sense.
All right.
So whenever you're ready, the higher your number, the riskier it is.
Hopefully you know the odds.
Give us a number between one and nine.
Four.
Four.
All right.
Four.
Two.
Three.
Four.
Sixty-six.
Ready?
Yeah.
Let's do this.
Done.
All right.
So you're up to 750.
You can choose to continue.
No, I'll cash out.
Let's do another 500 one.
Okay.
All right, so he's cashed out.
750.
Nice move.
And the next one again will go with four.
Oh, man. quite a green board actually
yeah that was a nice board
alright since he says he's going to do four again
right 500 then
what do we think here
alright let's do it
this is pretty hominous
500's in, four
that guy loves four This is pretty homin'. Yeah. 500's in. Four.
Woo!
Guy loves four.
Let's go. All right.
You're up to 750, so you can choose to keep playing or you can cash out.
No, I'll cash out.
All right.
1,500 wins.
Hey.
He's walking away at 1,500.
One of the nicer wins that we've seen.
Respect your playing style.
Sam, I respect your style quite a bit. Thank you so much, guys. Nice little win. Thank you so much.
For listening to the show today. I appreciate this. I love you.
All right. Well, we love you as well. Love all of our listeners, folks.
That's going to be it. That's our show.
We will be back tomorrow for another episode of Foam Hour at 10 a.m. Eastern.
Until then, go make it a great day.
Goodbye. Thank you.
