The End Oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, Alright, let's kick it, baby. Thank you. Yo, yo, yo, yo, yo, what up, what up, good morning, good morning, GMG, yeah, Tuesday,
December 16th, 2025, look at that, another beautiful day to have a beautiful day.
I got my co-host in the house.
Just watching this face-melting rally
off of last night's lows.
The most important double bottom of our lives.
This is the most important double bottom ever.
Everybody needs to pay attention.
Kwon said 89K, Kwon being Bernie.
when Mando can't make the first few minutes of the show,
we should bring Bernie on.
I think we could turn Bernie to the next
We need to see these dots. What do the dots
look like over the last couple
volatility, assuming he just printed.
Yeah, I'm assuming he printed.
I mean, his dots are everything.
We could even call it the Bernie
pattern or something. The Bernie trade, whatever it is.
He has the right name, Bernie.
Very similar to Bernie Madoff.
Pretty famous name here in financial markets.
So I feel like he would cook.
I don't think he'd make it today.
News. And I'm actually so tapped out a new cycle last few days jesus
right nothing wrong right i don't feel like yesterday was anything other than
than that uh i'm trying to share how do you pin something to spaces now i forget they keep changing the they keep changing the
the way everything looks on this app for some reason i guess you can't do it anymore
oh i can there you go it's the end all right uh spaces i'm sorry uh markets news blah blah blah
blah blah blah uh we're gonna do a giveaway double giveaway because i fixed my problem from yesterday
So we're going to double whammy,
some Omaha, some lamb chop.
Then we'll be joined by football.funt.
I know they've got an ICO been talking about it,
so they'll be joining us to chat about that.
Natalia's got some questions too,
but let's talk about those metrics,
talk about the ICO and stuff like that.
And then last but not least, this show is powered by EigenCloud.
EigenCloud built on Eigenlayer security extends crypto-grade verifiability to any applications from AI agents to prediction markets to on-chain games.
Build anything, verify everything, but also Wallet Connect.
Wallet Connect powers billions in monthly volume across wallets apps users and institutions that blue logo it's everywhere and i cannot trust in crypto
is recognizable as visa i'd check out want to learn more follow wallet connect on x and telegram
to stay ahead of what's next and then one more hey the sponsors keep the show running you know
uh one last one but that's just for the week.
There's a special deal that Mexi is offering our users, our listeners, sorry.
If you sign up to Mexi using the code FOMO, I think it's on screen now.
$50 for the first 40 users.
All you have to do is deposit $100 and trade $2,000.
$2,000 notional volume, by the way.
So it's an actual two grants
it's 100 bucks you know you know what to do and uh you can get your 50 bucks so let's see somebody
write it up 50 to 50 million how's that this is damn you know actually so it's qr code somewhere
on the screen you can see it you can connect and with that being said, Tyler, let's get right into...
For daily NFT and crypto analysis.
Tyler D on FOMO, our cause to get to miss.
Yeah, folks, the crypto board is red, but getting a little little bit better we've got bitcoin now 87.3
it's only down 0.7 percent from where it was yesterday it feels like it's worse ethos is down
three and a half percent 29 40 salada down one and a half percent at 128 and headlines here jp
morgan launched tokenized money market fund on Ethereum.
We talked about that yesterday. The Senate has punted that crypto market structure bill to next
year. So that's not going to be approved. I don't think a huge surprise at this point. There's not
that much time left in 2025. But you're going to have to wait a little bit longer for that crypto
market structure bill. Coinbase and Robina have joined the new U.S. tech force,
which is aimed at recruiting top engineers
to build AI infrastructure for the U.S. government.
Metamask has expanded beyond Ethereum
and now has Bitcoin live in wallet.
You can buy, send, and receive Bitcoin inside Metamask now.
PayPal applied for a bank charter in Utah
as it continues to try to get deeper
into the traditional banking system.
Trump said he's going to look at pardoning Samurai Wallet developer Keelan Rodriguez.
Grayscale argued quantum computing unlikely to move crypto valuations in 2026.
The warning chains need their plans.
And then Bitensor Tao, they completed their first halving event on Sunday.
They completed their first halving event on Sunday.
Issue went struck from 7,200 tokens per day to 3,600.
Though the price is also halved since late October.
In corporate treasury's ETF strategy, they had a billion in Bitcoin.
Bitmine bought 102,000 ETH last week.
Bitwise filed an amendment for their hyperliquid ETF.
Bitwise filed an amendment for their hyperliquid ETF.
And token airdrop and protocol new circle announced the acquisition of the
the XLR network and the axle token are not going to be acquired.
So those are going to be turned over to the community.
Just the latest app token that was not included in an acqui-hire.
Yeet kicked off big moments three Christmas joy,
Maybe we'll talk about that.
Sports.fun, they shared new details for their ICO.
We're going to talk to the team here later in the show.
Ondo announced tokenized stocks and ETFs coming to Solana.
And Calci introduced prediction combos as their version of parlays.
Wrapping this up, memes were read today.
Pippin is arguably the story. It's up to $500 memes were read today. Not a huge surprise. Pippin is arguing with the story.
It's up to $500 million market cap.
Though Bubble Maps is reporting
Let's talk about it later.
NFTs open see swept a million bucks in NFTs
it looks like. Rewards for their latest
farming season. It's not going to end anytime soon.
Wave three rewards unlocked tomorrow, but then wave four is going to begin.
And quirkies are doing an NFT strategy token.
Street, I believe it's going to be called.
And that is launching today.
So what the fuck is Pippin?
Because there's a coin right now going to $500 million.
I think we mentioned it like $200 million on the show just as news. It's not like we're buying anything now going to 500 million dollars i think we mentioned
like 200 on the show just as new it's not like we're buying anything just quickly like you
briefly kind of mentioned so it's not like we called or anything but what how where who i'm
not i've not seen a single mention on it of it that doesn't mean it's good or bad by the way. I'm just saying. What? Man, I'm trying to remember.
live? Oh, no. Maybe it is.
So what is it? Who is it?
Even if it was $150, I would ask this question.
What's going on here? This was one
2024 era. Oh, is this like one of those
cabals that runs the tokens up to then
dump? Because I've seen a lot of that, like Jelly Jelly
and then I'm like, there's been a lot of that shit here.
Yeah, that's the simplest
explanation of what's happening here.
a token I tracked and reported on
back in... I remember that.
And then it had its run up.
How high did it get in that first run?
Only a handful got higher than that.
It was on the short list.
and it's been driving this price
encouraging folks to buy this by any means,
but just kind of reporting on why this is happening.
So a team grabbed 80% of the supply and running from $10 million to $500 million.
Question for you, Tyler, why aren't we doing this?
And like, why is it happening to my coins?
Like I'm still holding these...
Decentralized markets, you know?
Maybe someone knows better than me.
Maybe there's a thread on something and the chat usually is good to comment
and find us the stuff we're asking for here.
is it something they do with like
the ones that are listed on the perps
is that what they're doing here?
Yeah, there has to be certain characteristics
of like why did they choose Pippin versus.
Like Jelly Jelly was because it had perps
like there was, it was specifically targeted to attack by N it had perps on Nance, Hyperliquid. It was
specifically targeted to attack
There's a longer discussion to be had. I feel like
Bubble Maps, and I like the Bubble Maps team a lot,
been doing more threads, exposing
how bundled... New tokens are, like exposing like how bundled they knew tokens are,
but also exposing how bundled previous launches were.
So like they've been doing this like time.
The Pepe and stuff like that,
what's your take on that?
I think it's good that they're bringing it forward.
Then it's up to you to decide if you want to make it positive or negative.
it's like bundle doesn't necessarily equal bad
like the Brett token was like
for whatever reason that one had more negative sentiment
the whole time it was pumping
bundled tokens have higher
likelihood chance of going high
I guess they also perhaps have higher likelihood of just being,
you just being rugged, perhaps.
Maybe it'll be a short here at some point,
but you got to be careful.
I mean, this is pure manipulation.
Everybody needs to be aware here.
This is pure manipulation.
It's not that it's getting,
it's not getting bought by NVIDIA.
Like, it's not like being acquired by Coinbase.
As you see on the screen,
trying to read some takes.
Everybody has the same take.
So you have people doing TA on Pip and do this.
Now this is the sort of crap I can get behind and why am I sidelined?
I mean, it's like high-stakes rocket game, right?
So, like, if you identify a bundled token like this,
like, there is a trade for, like,
I'm talking very large and stuff right now.
You can probably, on MechC, short it.
MechC tends to list a lot of stuff.
I mean, if you saw this happening,
kept talking about it in the chat,
the FOMO hour chat, right? Inter.
You kept saying, you know, Pippin's at 200, Pippin's
at 150, Pippin's at 200. You and I
and everyone was like, what the fuck are you talking about, you?
Like, what are you talking about, Pippin?
how far is crime going to?
maybe this is a good saying to
this Circle Interop Labs.
Yeah, let's talk about that.
Circle announced, Interop Labs
team and their IP is in a joint circle
and accelerate the next phase of cross-chain infrastructure.
That's from the announcement.
But this does not include the XLR Foundation or the Axel token,
which are going to both remain independent, open source,
So effectively, the team driving the protocol and the token is gone.
The protocol and the token are now in the community's hands.
So this is like, I think our third recent example of this, maybe there's even more of where
an app effectively gets acquired, but the token does not not and now that the token is starting to sell off unsurprisingly
it's like it kind of had pumped a bit into this it was like it ran about 50 into the news perhaps
just kind of a rebound rally because it sold off so bad and now it's back effectively at all-time lows but it's still at 170 million dollars uh i was right that's tvl it's 135 million fdv 120 million market cap but the question is why i mean
should it be worth much more than zero at this point right and it's just it's another blow for the whole app token market.
I think some solutions are coming.
So it actually sounds like we're going to talk to the Rainbow Wallet team.
Yeah, I'm excited about that.
It looks like Mike said they've got an answer to this.
They've got a new equity, digital tokenized equity version of their token.
They're doing it in a slightly different way
so that if they were ever acqui-hired,
the token effect would come along with them.
You can maybe argue that that means
perhaps they're a tougher acqui-hire.
That's perhaps a different discussion.
But it's just something to be aware of, right?
You bet on these teams, these tokens,
and you think an acquisition by Circle will be huge,
Well, so we think about this all the time.
So I can, we think about this all the time.
It's like, because obviously on the merit side,
there's been no token yet, right?
more because we've talked about this openly.
We released a whole letter about why there hasn't been a token yet.
It's because we're not in the position to drop it yet. Because one of the things to do properly and highly advise you guys reading Loxy, our CEO's latest article on this.
The point being, we think about that a lot, right?
Like a lot of people would advise me, Farouk, like, actually a lot of people have advised us straight up.
Do not launch a token because what if one day you want to get acquired? But I'm like, but what happens to people people have advised us straight up, do not launch a token
because what if one day you want to get acquired?
But I'm like, but what happens to people who have been supporting us along the way?
And so there's a lot of founders.
So it's your, I guess it's not fiduciary because token doesn't mean equity.
But it's kind of your duty, somewhat fiduciary duty, I would like to say, to take care of
your holders, take care about your ecosystem, to take care of the people that are even farming your product, people that are using your product, take care of the people that are promoting your product, right?
And you can see Kuk and I think it was a few other people yesterday tagged me, but they were talking about. There's no upside to the trenches for Polymarketer Calci because the people who are going to have the upside of Polymarketer Calci are really the
investors, right? And the founders and the early team. And so we think about this a lot from that
sense, like, well, so what happens? Because a lot of people don't want to launch tokens because if
you launch a token, unfortunately, the truth is, let's say you launch a token and it goes to shit.
Your valuation will be stamped to that token.
So let's say Miriam launches a token tomorrow, right?
Let's say, God forbid, goes to fucking 10 million.
Even if I go and try to raise a round,
let's say at a, let's say 100 million, 200 million, whatever.
The perceived value of the company
is going to be the token's price which is false right
the token doesn't equal equity which that may be solved for soon so a lot of teams wait for that
and a lot of teams sell and then rug the token the reason why they rug the token is because
a lot of the times and i think dudas kind of went to war yesterday on timeline about that
it's the founders don't fight for the people that have been supporting them for the longest time
because they get the egg they're're cool. They got their money.
You're done. Right. And it's a much better excuse than the mental health excuse.
And then, um, sometimes it's the companies,
I'm not pointing fingers or circle companies. I don't know the deal.
I don't have the paperwork, but Duda seems to,
Duda said that one of his portcodes went through that were circle,
but that doesn't mean I'm not, you know, so a lot of the companies that buy you say hey like we don't want your token
maybe they have better ideas bigger ideas maybe they're nasdaq listed companies maybe either this
and that so it's like it's very interesting um it's it's a weird and the thing is i'd like to
blame put it on the fact that we're a little too early in that sense so like do you have m&a
happening right now for crypto companies
that have been built for the last three, four, five years
that have had tokens, and now we're just seeing them get acquired
because they're mature enough to get acquired, right?
So we're in this weird position here.
We have been doing a lot of research behind the scenes
with legal and stuff, like how do you do the token equity thing,
which is when you told me Mike and Rainbow may have figured out,
I'm like, fuck yeah, let's get them on the show, right?
And they're coming on, I think, tomorrow.
Polymarket, I don't think it was Poly,
but I think OneConf that invested in Polymarket
kind of alluded to something as well.
I'm curious to see how Polymarket does their token, right?
I think they may do something that's going to be...
My call was always, Polymarket's going to do a token
that's also listed in equity, right?
I would love to see that.
We saw Tether that made the tokenized equity
because they didn't want people to sell their shares
at lower valuation to not fuck up
their half a trillion dollar raise.
And so like the way Ovi managed to give
I think we're going to get to the point soon in 2026.
That's going to be the biggest unlock for crypto
where token can almost be part of equity and therefore what kook is talking about what stats
talking about what you're talking about can be solved for right it's just a question of being
early not a question of people not wanting to do it but then also it would be nice if the founders
ceos kind of like push for that right like let's not let's not rug people just because you want to
get to your exit right yeah and there's gonna be a lot to unpack from it as well a i think it's gonna be
like the one that biggest unlocks and right and it's gonna be the transition point from vaporware
tokens to like real tokens um but on the same side that might dampen some valuations, right? Like there's like, there's, you know,
vaporware can be pumped easier sometimes, right?
Than like true value of protocol.
So there's going to be some unforeseen consequences of this as well,
probably, but it's, it's absolutely the right step to, to go.
probably we haven't had it is just like the regulatory environment, right?
Like it's been impossible. It's been illegal.
And now there actually seems to be paths for this actually to happen.
We're not quite there yet.
I mean, if Mike figured it out.
You know, we'll see how he figured.
But see again, that's why when people tell me, oh,
Trump was bad for crypto, this and that, the price of crypto, like, sure, we hit an all time under Biden.
I'm like, dude, what are you talking about?
Like the SEC is pro crypto and helping us do this.
We know for a fact that there's a, I think it's either in the SEC or the CFTC.
So don't quote me on that.
One of the two is trying to find a way, I think it's CFTC, to help. Isn't there a pilot
to see how that could work?
There's an actual pilot program
If you're listening to this, if you've been waiting
for Myriad for a long time, you should be super happy
that there's no token yet.
Because maybe it'll be figured out and maybe it's a way for us to be able to do that.
I know for a fact there's some teams that are working on trying to get that through and trying to launch somewhat like legal token or legally regulated tokens that equate to equity.
So I think we're close, dude.
I think we're close, dude.
It's going to be a big unlock.
It's going to be a big unlock.
But yeah, back to your example is,
I guess maybe Coinbase and Circle
don't want to take on somebody else's baggage.
It's going to be one of the biggest stories of 2026,
probably the biggest new trend.
so maybe we should just go there.
Posted what might be a controversial article.
And I wrote my own thoughts on it this morning in the newsletter.
So go check that out if you're interested.
But decrypt named Trump as crypto person of the year for 2025.
And it's a long, well thought out article.
It's a 15 minute read. I do encourage folks to read it, Sanders is great
and I think he did a good job of trying to
paint the picture of both sides
so he highlighted some positives, he also gave air to folks
who were critics, so I found it to be a very balanced
piece, and the reality is who were critics. So I found it to be a very balanced piece.
And I mean, the reality is like Trump's impact is mixed, right?
So I think it, A, I think it's hard to argue
he's not the most impactful person in crypto in 2025.
Like who else are you going to point to
So I think that conversation's been had. Like maybe you could. I'm not even sure who you would argue,
to be honest. But then the next phase of the discussion is, okay, so was that impact net
positive or net negative? And I do think that's a longer discussion slash debate.
And where I've landed personally, I still do think it's a net positive
because of all the doors that have been opened in the US
and you can actually now build in crypto
and feel confident that you're going to be allowed to keep doing that.
The banks aren't going to shut you out
and you actually have a path forward.
And I think that is substantial enough
to outweigh some of the negatives.
And I think that the meme coin launch was a negative, right?
And I think there's been some, it's like hard to,
it's like some of this is speculation,
but some of the like the pay for play with the pardons,
like there's been some messiness as well.
And I know just there's also the cohort
that feels like the institutionalization
of crypto is a net negative.
I think that's somewhat of a
tangent discussion to this.
But I'm curious for others' thoughts.
I mean, there's no right answer.
Everyone's going to have their own view
I'm curious for your view.
You interviewed him. their own view on this but i'm curious for for your view um you interviewed you kind of kicked this whole thing off yeah it's true wait um yeah i mean i uh i don't think it's controversial at
all and actually think shout out to sander because what i love about the crypt because we have
absolutely no hand i know we own the crypt right the umbrella company, but we actually have no hand on this.
I actually found out when the article came out.
They were like, oh, can you share this?
I'm like, of course I can share this.
But I think it's also what I like about Sandro Sardar.
So he's our White House correspondent.
So as you saw yesterday, I'm sure we'll go there,
but he was there asking President Trump a question in the Oval Office.
He always manages to keep it real, right?
He puts the good and he puts what he thinks is the bad.
And there was even a quote in there that I just shared on screen. It was it real, right? Like he puts the good and he puts what he thinks is the bad. And there was even a quote in there
that I just shared on screen.
That was not great, right?
The whole pay to play thing you just mentioned.
And it even says the title,
this year, the president vaulted the crypto industry
to unprecedented heights,
but have those perks come at the cost
of Bitcoin's founding principles,
which is something I had kind of asked CZ also
But from fundamentally the Bitcoin change,
I think it's not controversial. I think he definitely deserves that topic for the same reasonZ also in the interview, right? But from fundamentally the Bitcoin change, I think it's not controversial.
I think he definitely deserves that topic for the same reason.
I just also went there, right?
Like that whole segue was thanks to his adamant position on crypto,
whether someone may see it as good or bad,
it has opened a lot of doors.
So for me, founder hat on,
I always think it was a positive because it has allowed me to do so much more, right?
I mean, we operate, we own a prediction market, right?
Prediction market under Biden,
those were completely illegal, right?
the CFTC was highly against it.
So for builders, long-term is, you have someone with a take here saying it. So for builders long-term is like,
you have someone with a take here saying net positive for,
for builders long-term net negative for investors short-term.
Maybe it's that at the moment. I don't know. I mean, you know,
the markets that aren't good-ish, they're not terrible yet,
but I think it's a good take. I think it's a great article. And for me,
I always see that positive.
But again, like you said,
I come from a place that someone that's interviewed,
we got that house access.
I think they've opened a lot of doors for,
And I don't think we'll have an answer for several years.
Like we'll be able to look back on this.
even 2028 might be too soon.
And then when prices down,
everybody wished Kamala was in.
when I tweeted that last time,
we're bottoming because people are tweeting about Kamala Harris being
but you don't understand.
Like it's affected the industry in this way for the future,
blah. Okay, cool. And buy Zcash. I don't know. Like if you really think that privacy is untouchable and this is saying, yeah, but you don't understand. Like, it's affected the industry in this way for the future, blah, blah.
Like, if you really think that privacy is untouchable and this is that.
Mando, what do you think?
Well, let's put you right in the fire.
You landed in, ran the fire.
The Crip wrote an article.
The number one trader on CT.
With the number three trader on CT. Ladies and foremost... With the number three trader on CT.
please... We have two top
75KOLs in crypto as well.
We're starting to rack up those awards, lads.
We're starting to rack it up. Ladies and gentlemen,
welcome him, the man, the myth,
the legend, the number one trader
I think I also have an applause button somewhere.
I just don't know where it is anymore.
So that one trade really just won it.
Yeah, I was on like... I finished on 1. really just won it. Yeah. I was,
So it wasn't like I was complete.
That wasn't the whole of my,
but that was 500 K of it.
And that was the max short.
That was kind of the difference.
Um, I actually was out yesterday.
I was texting Farouk being like,
I couldn't even cover my wrist when I was out.
So when I started going ahead.
It's cool to win one of these things.
That's the second trading competition I've ever done.
Nice little $200,000 for Mando.
So where are you taking me to dinner?
There's a specific wine that I
told Tyler yesterday. I said, you know,
next time we go out to dinner, I'm not
even fighting for the bill. I'm not taking my credit
card out. I would love a Barcavela
It's like the greatest Portuguese
So that would be nice one.
I'll take you out for dinner. I'll take you
I'm so hyped about this. Anyways,
congrats on that. That's super fun.
You actually cooked them. You didn't beat them.
You destroyed them at the end.
It really wasn't close them. You destroyed them at the end. Like, holy shit. Yeah,
it really wasn't close yesterday.
I knew that towards the end.
took down all my positions basically
I can only really fuck this up now.
And you could tell as well,
that as soon as somebody went slightly ahead,
they were reducing their positions.
You could see it happening.
That Simon Templer guy went up ahead for a while,
and then was reducing his positions at the end,
And it was like, you could tell that no one was going to go for it as well.
So I was like, okay, well, there's no one was going to go for it as well. So I was like, okay, well,
There's not a lot of big crypto,
There's not a little bit big crypto folks in there.
this price structure too,
like you just kind of went there,
but like if you had fifth locked up,
you weren't super incentivized
to try to risk it all to go to first.
No, I agree. 50k is nice.
different sort of trading competition, in my opinion,
than the first one, which was just like a win
crypto care wells in the top ones there. Not last time either. I yeah, not a lot of crypto KWLs in the top ones there.
I mean, the last time was only KWLs.
Other people liking ICOs at the moment.
Not a lot of people went in trading competitions.
Tyler and I were discussing something.
Crypto Person of the Year
in a pretty good expose that
other side, a little bit of it. It's a pretty
fair article. Tyler and I
tend to agree on that pick. What do you
It's tough to argue that anyone
else has had a bigger impact on crypto than trump
i yeah i think i'd give it to him i give it to him he definitely you know it's not been perfect
he's had a massive impact on on the on the crypto market i don't even know who else it would be
I don't even know who else it would be.
Crypto, maybe that may win
does like Crypto Project of the Year, Crypto Person
of the Year, Crypto, they do all these things.
Right, okay, that would make sense.
Maybe they'll win a crypto project. I don't even know.
having a big impact it feels like.
After that, not a lot, I would say.
It's been a strange year, right?
He'd be up there, I'd say.
I mean, if you're coming up with a top five
list, he's got to be on it. Yeah, he's top five for sure.
What's our top five? So Trump would be first.
We got Tom. Oh, this is good.
It depends on how, if you think CZ
Well, I don't think he was involved in 10-10.
Personally. Probably depends.
I would say Shane Copeland.
So he won, so just so you guys So he won Founder of the year last year
But I agree this year again
I mean, prediction markets are back to back, right?
But that's crypto person, right?
If I'm not a founder or a
I don't really know if the KOLs have There's no KOL or a project lens. Best crypto person.
I don't really know if the KOLs have... There's no KOL.
Have given themselves a good name this year.
I can't think of anyone who did some disgusting trade
Larry Fink or one of the TradFi guys?
Larry Fink wins crypto person of the year. guys? Oh, maybe. Larry Fink wins Crypto Person of the Year.
We can't even think of five boys.
Okay, let's put Tom Lee in there.
Tom Lee was like a trade, right?
Like, I think the turnaround ETH at that time
it was looking like it was dead.
Do we think CZ going to jail,
makes him a crypto person or not?
I would say this has had a massive year as well,
just in terms of profile.
I'm curious what the shortlist was.
Honestly, honestly did Was a big one. Nick O'Neill. Yeah. Honestly,
honestly did go a bit mainstream.
Well, there's like different tiers here.
We're talking about like crypto
the person who had the biggest impact on crypto
Yeah, well, that's good. He's going to be Trump. You could say that for
like every bit of the world.
You know what I mean? It's like he's had the biggest impact on probably the president of the United
I would say Jeff, here's my top, here's my five.
Jeff, Shane Copeland, CZ, Mert and Trump.
But then you go with Trump.
So I'm asking, I asked the editor in chief,
if he doesn't mind sharing with me
who their shortlist was i'm just so curious now how like who was like their like where did they
pick from right um very curious about that um very interesting in that sense okay so there's that
not baron trump no mel no. Baron. Where is he these days?
Honorable mention with the impact that Pump Fun has had.
Is he getting honorable mention on this?
I think you have to give.
It's not really been the year of Pump Fun, is it?
Oh, is it the year before?
I feel like last year was the year of Pump Fun.
This year was the year of quite an airdrop for Alan.
Definitely last year I would have put him up there.
It was a breakout year for pump fund.
Okay, yeah, so not this year then.
What coins are up here today?
I see Adam from football.funders2 will bring you up in a minute here.
Year-to-date coin market cap.
You can't do year-to-date.
Oh, Zcash is actually there.
Gold is in the six and seven spot.
Not great. OKB. Oh, great.
I think about any of these trades,
if like people have been...
Zcash, that's why I kind of chose Merc
because it's probably been the trade.
This is a disastrous list.
Token is being crimed right now.
Probably another crime here.
OKB is up because they did a bunch of really cool stuff,
like burning a ton of supply, blah, blah.
Monero and Zcash, same narrative.
Dash is another privacy coin.
Whatever this fucking Leo thing is.
And then it's Tether, USD, USD,
Hyperliquid's only at 13% year to date.
There's a lot to unpack from this
let's talk about this in the end of year show
I know we're going to do a few more shows towards the end of year
we'll do our end of year shit
I think the jobs report was a little bit mixed, so we can get into that tomorrow.
double bottom last night.
Santa Rally's on, so we can check back in
Is the Santa Rally back on?
in the house. What do you think of Farcoin?
at Farcoin right now. I think ETH
is not looking so great to me here now.
Well, I was looking at Farcoin. I bought some
Because I thought Farcoin would be do good, you know,
like shorting the market right
don't convince yourself that now it's long either.
We did break through the 88K level.
So I think kind of anything above 88K becomes an okay short now
because that was the previous level of support.
So like if you go to 88K again,
I'd probably look for another short. She's actually not bad, but the trade's not, it's not, you know, 94 versus or 93 versus
80. Now it's 89 versus 80. So Rissa was still with you if that happens, in my opinion.
Wow. Last week he came on, he said short 92k and we went to zero and this week he came on, he said short 92K, and we went to zero. And this week he's on, he says short 88K.
With that being said, let's bring Adam on.
There's not much going on in this space, really.
But so it's good to have something going on.
Adam, you've been on the show before.
Different haircut this time.
I've got a little swag going on. Yeah, I've gone on the show before. How are you doing? Different haircut this time. I've got a little swag going on.
Yeah, I've gone full Viking this time.
I see you're all in optimistic mood.
Every founder's dream is to be introduced when you're doing an ICO
and people are comparing whether stable coins are, in fact, the best play.
maybe I should have launched it as a stable coin.
we have said some good things about you yesterday and day before on the show.
that's how we ended up here.
And for one of the last ICOs of the year,
speaking of end of the year, stuff like that,
I'll let Tyler lead this one.
But quickly, Adam, obviously you've been on the show before,
but quickly maybe refresh people's memories on who you are,
That way we can recap here.
Yeah, I'm the founder of football.fun.
I think most people met us about three months ago in August
when we kind of had a breakout month at that time.
But we've actually been building for 14 months.
We just kept it quiet until then, until we actually had a product.
And it was actually worth telling anyone about.
Since August, which is 13 weeks ago, feels...
I don't remember what I did previous to that because it seemed to have lasted such a long time
over 10 million dollars in
and today we're doing our ICO on Legion
TGE is going to be in January and then the plan
expand both in terms of new sports, new audiences.
And I don't like to say go mainstream because 6 billion people is not a target you can really hit.
But let's go for the first 100,000 people who love playing DraftKings and sports betting and try and get them in as well as the crypto native guys. So where does the ICO fit in with that vision? So we give a lot of thought
to this. It comes down to like the sort of business you want to run, right? Ultimately, like, you know,
you can do the typical thing where you try and sell to like, you do five years as a founder, then you try and sell the business to someone. DraftKings, in our case, would be an obvious one. But we don't really want to do that. I've been acquired before as a founder, didn't necessarily enjoy working for the acquiring company. And I think we actually have a business that would actually be difficult to sell. The core of the business is actually a decentralized player market
which is actually owned by the users.
I couldn't really sell that because I don't own it.
So I don't imagine anyone would acquire that anyway,
and we don't want to do it.
So the purpose of fun, when you think of the buyback meta,
and in some cases, this is dumb.
I agree. But when you have a like the buyback meta and in some cases this is dumb like i agree um but when
you have a company that actually has revenue and people enjoy and like actually use the product
that to me seems like the most obvious way to align your users right company makes money
it goes back to the token um i see some teams doing it and i'm like that doesn't work
because you're just kind of jumping on the thing.
But for us, because we actually do have revenue,
And so this was shared while I was reading about this.
I don't know if it was in your Q and a,
So fix supply network token fund,
it's going to link platform revenues,
and you're going to do programmable share of revenue funds for ongoing
So we would love to hear about that.
Yeah, I guess like really TLDR way of explaining it is it's a little bit like a BNB coin on the platform in that you get benefits, rebates, fee discounts, various perks.
if you care about football.fun and you play regularly,
If you care about football.fun and you play regularly, it just has benefits.
The kind of incidental thing is that
we also just use our revenue to buy it back.
So we're using 40% of our funds to buy back the token off the market.
So that's from every sports market we spin up.
So that's just like a really solid value accrual to token.
Basically, our equity is worthless. We've made
it's full value accrual to token.
I think you're just going to make
that choice, or else it's just too complex
And then thirdly, there's
which I kind of talk about as the pumped up fun of sports.
When we launch new player athletes on the marketplace,
like the next big drafted NFL player or the next big soccer star,
if you make your prediction on who you think they're going to be,
if you participate in the draft game in in nfl um and you're right
then you get the sort of sniper entry price on that new athlete so if you predict like this
college footballer is is going to be the next quarterback for whoever um you get the entry
price so it's a little bit like getting the first price on a token um i think that's going to be
like a really exciting game mode for a lot of people, particularly the crypto natives.
And you need the fun token to do that as well.
Did that also inform your decision on not going the VC route?
So I think you wrote about that as well.
You raised this capital from VC. Yeah, that was easier for you.
Actually, harder. raise this capital from these easier for you actually harder I think doing an ICO
you don't really appreciatively go through all
of this but like the forms and like the legal
processes and doing it is incredibly
difficult it's actually comparatively easier
to get one VC to go yeah he's three
but I do think it will be worth it
because I do believe in that distribution effect.
And I think the original purpose of ICOs, right,
was to give early supporters good entry price.
It kind of got corrupted along the way
and we sort of stopped doing that.
And then because ICOs became illegal,
we all turned to meme coins to like do something.
And I think the kind of legislative landscape
is now there to do like real ICOs again.
So that's what we're trying to do.
And that's why we've done a 60 mil VAL,
which seems to have been widely considered
to be a quite a fair entry price
rather than doing a billion for ego
and then just never being able to satisfy.
That would have been terrible. Yeah.
Yeah. So yeah, that's, that's kind of our plan is like,
use that playbook and let people get a good entry price and see like room to grow
and then take people on that journey with us. So yeah, kind of old school ICO approach really.
Was choosing the FDV a difficult decision or maybe part two?
What was the most difficult decision kind of going through this?
I guess in terms of like, you've really got to keep reading the room of crypto Twitter all the time.
And that can change like quite rapidly.
So a month ago, you might have done 100 mil because
people were doing monad and mega earth and it would have looked cheap but then you know the
market is just different so we have to keep evaluating that um it's also different like
when you speak to vcs and when you think of doing an ico as well so after august we spoke to most of
the top tier one vcs spent a lot of time talking to them,
and ultimately just didn't, it never really made sense for us
because we already had decent backers.
We've just announced Coinbase Ventures backing as well
because we're the number one consumer app on base now.
If what you want is validation and someone big to say,
hey, these guys are not idiots, then we kind of have those guys.
And then capital is just kind of a commodity.
You can get that from various places.
And then the third thing is actually what giving those tokens
to people actually does for the business and the community.
And I would rather see them in the hands of people
who have been vetted through Kraken, through Legion,
are our player base for the most part,
or they're proven holders.
And go out that way because then you get super fans.
And if you do give them a good price,
and I remember this from Top Shot Days or SoRare days or any other product.
If they make a lot of money
and they see success through your project,
some of them make their whole personality
Some guys made their whole personality
around Top Shot because you gave them a win.
So that's the kind of mentality
is establish that hardcore
because they will be your biggest fans as you try and push for the next
are doing an airdrop as part of this as well.
Do you want to maybe elaborate on that?
Kind of what went into that decision and what the community can expect?
So I've always been pretty consistent in my approach to this um and that's
basically been give a more significant amount to your power users and don't give dust to 20 000
people because it just doesn't really do anything for those people um we we've obviously been on a
journey like or it's not all been great for Football.fun.
It's been a hard up and down journey,
If it goes up, it comes down
because as soon as anyone makes money,
if you give someone the opportunity to cash out 50K,
because that is the kind of mentality of the cycle.
There's nothing wrong with that,
but it obviously means that our player markets like
rocketed up and then they came down and now they're grinding back up again um and there's a
bunch of people in there who probably are like biggest fans who are sitting there kind of like
well i wish i'd cashed out 50k but i kind of didn't um and i stuck in and i watched my bag
go up from here to there and then back up a bit. So my ambition for it really is
I want that guy to get their airdrop
and be like, hey, you know what?
I feel good about my decision
because then that creates a culture
where that core community know
that they will eventually get looked after.
And that's what we want to do with that airdrop.
And it's not a one-off for us so i
think there's limited utility in like a one-off airdrop it happens it's gone um why not do it
every month you know why not make it into a thing where if people are playing the game um and they
are continually playing the game and they've got good stats and they're good at the game um why
that just be a monthly thing like kind of like every any kind of sports book um will have that
kind of retention program for its power users so that's our plan for that as well love to hear it
we've gone deep into kind of like the operations of this icu now i kind of want to step back
and talk more about the product and you kind of went there at the beginning.
But I want to kind of answer the question.
So why should anyone who's interested participate in the ICO?
So how is the product doing?
How has it been trending the past few months?
Yeah, so we kind of alluded to it, but August was just crazy.
I think we were probably the most talked about thing for like 10 days on crypto and loads of people piled up in.
I don't think that was...
Obviously, there was tons of stuff we could have done better
But I think to an extent, that's part of the game
that is played out in crypto.
It's not necessarily a bad thing.
We just had to keep shipping
um so every single week our community see new updates to the game we make it better and better
um really around the theme of just making it easier to play better onboarding more obviously
rewarding um i see people like opening 300 packs in our game and just kind of brushing it aside.
So there's something wrong with like how we present information
which is really interesting. Because if people
win a $300 bet, they're like, fuck yeah.
And now they're just like
scrolling through our app going,
So there's something wrong like psychologically.
So all these things we're trying
to work on and like make better.
it's really just that kind of hard yards of like really just improving the
product and then thinking about strategically, like which,
which sports we launch next and which markets we go to.
So NBA is obviously a heavily requested next, next sport.
We've already launched NFL.
That's new since I spoke to you guys last as well
like we really just launched nfl um nba is popular next but i've also been speaking to other people
like i was on a korean podcast the other day um their thing is league of legends like why not like
absolutely insanely popular sport in that part of the world. You look at places like India, cricket is the thing.
The actual spend is massive.
So yeah, roll out these markets to different places,
keep growing our volume and our revenue,
and that ultimately comes back to the fun token.
So if that's what you're interested in,
and you're interested in kind of the journey of the company token so if that's what you're interested in that and you're interested in kind
of the journey of the company um that's that but if you're a player and particularly if you want to
get involved in this kind of like drafts and early scouting of players you're gonna need the fun
token so it has it has in-game utility as well as as well as being that like bmb token that gets you
like general perks on the platform do so you're going through this expansion now, different sports.
Do you view the football product as the core product of the platform?
Or do you view it more as they're all going to be equals
or the market's going to decide?
How are you thinking about that?
I think it's the market that will decide ultimately.
I think football is the biggest now.
I think NFL obviously came through like halfway through the nfl season um we are actually doing like off-season
rewards and game modes around the draft so there's going to be stuff to do um but yeah i think nfl
will probably have its biggest season next season uh like 100 um I think there'll be kind of convergence
around football.fun for the World Cup.
It was a strategic move, really,
The US is actually now our biggest audience
Most people, more of our players log in
from the USA than any other,
which is predominantly because of NFL.
There's obviously a US-hosted soccer World Cup,
so we will encourage that audience to come across.
They will get interested.
And they'll probably mostly go back to NFL.
But yeah, so that road does kind of lead to like
football.fun being popular in that summer period.
But yeah, ultimately, like our job is to be a marketplace.
We want to be like the Binance of sports,
trade any sport um within reason like has to have a certain level of popularity and we just become
the infrastructure you know the the venue for trading those players um but also the provider
of the entertainment experience and the game as well and then the market just kind of takes care
of itself like that that becomes something which is player-owned
because we don't own the money in it.
Actually, the liquidity is in a central smart contract
I'm curious, were there any surprises
from the NFL launch versus the prior football launch
or takeaways that will inform the next one?
We certainly got like every time you launch a new sport,
like we had like liquidity splitting between them.
So like a lot of football fans like would cash out of football.fun
because they're like, ah, new shiny thing.
And then they're like, ah, we're selling that.
And then we're going back to football.fun,
which is very like common crypto behavior.
It's not great if you're the fan, though.
If you're the NFL player and everyone's leaving your game
and you feel like you're winning, but you're winning the sport,
but you're losing the macro because someone else is cashing out on your shit.
So there's liquidity challenges there,
and also market teething problems,
which I think any prediction market has
of providing that liquidity
the best thing about this project is that
it's an open market, and the worst
and hardest thing is that it's an open market.
They're incredibly challenging
try and be a custodian of
but ultimately that's kind of why our game is cool
got to keep working on that and making it better
Well clearly you've had a major splash
Twitter in this sector so congrats
what do folks need to know
if they're listening and they want to participate
I think it's slightly easier as a US citizen
so interestingly it's actually Kraken's
first ever launch that has allowed
that's what they told me so like
following that follows like the coinbase example oh yeah it's true for now us citizens can
participate as well um so yeah it's we've only just opened a couple of hours ago i think
uh we're targeting three mil i think we're approaching one in the first few hours which
And it's all been from like the allocation sizes aren't that big.
So that is actually from like quite a number of small wallets as well.
We haven't, we're yet to see a fund YOLO in a million dollars.
So that is, yeah, pretty much all just like organic small wallets,
I appreciate you coming on on such a busy day
I like the reason very little, eh?
I said this like before we even had him on. I think like two days ago or some money. That was good. I'm excited. I like the reason very little way. It's funny. I said this like before we even had him on,
like two days ago or some shit.
Yeah. And Kurt spoke to go read Adam's thoughts. He shared them.
He talks about how he could have gone throughout,
how he chose to go this route. I mean, he's putting it to us as well.
And like, they're not, they're not raising it a billion. They're not trying to raise $50 million. They needed 3 million.
and they're choosing to go this route to,
They let folks have more skin in the game.
I'm interested in this one.
I don't know on the ICO side as much as the trading aspect after,
but it was because I see you still got to get,
it's a 50% unlock 50% one year. Right. So as much as the trading aspect after, but it was because ICO you still got to get, it's a 50% unlock,
So as you're trying to make money,
just from a trading perspective.
so that you can make your money back.
And then you'd need a 3, 4X
they probably want people in long term.
That's probably not the type
They want someone that's like
It's going to be lower flow.
There may be a trade here.
Do you know when the token launch is?
Fuck, we didn't ask that.
I'm curious. I don't know if the TGE date has, we didn't ask that. I'm curious.
I don't know if the TGE date
has been... I don't think it's been announced.
I want to trade something.
I would imagine it would be fairly
We'll follow up. I just want to trade something during the holidaysCO completes. Right. Just running through the 18th. So yeah, we'll follow up.
I just want to trade something
during the holidays, dude.
there was the bear market turn
But then things really heated up
And then we actually got that kind of...
I was at the Christmas table with my laptop.
Of course, people are doing stuff and they're traveling,
but there's also like a cohort who's like,
They're off work for two hours.
I'm fucking I'm gonna be online 24-7
in the holidays dude. I don't want it any
other way either. I want to be on
I want to be on my computer I want to do fucking calls
we're not gonna be gonna do the show for a few days like
I want to be like watching movies
I'll be gambling on Yeet 100 million percent
and I'll be fucking trying to trade something
I mean you can make you know he was kind of joking about like the timing and like we're we're talking like bear market vibes and like lower valuation i think all those can end up
being net positives right i had a low valuation enough yeah and i think 60 is fair no mostly
look i think it's i mean for the biggest consumer crypto app on base at the moment,
So anyways, we'll see, personal opinion here.
I'll be trading it for fun.
I'll just move some money to base so I can be quick.
Anyways, so Yenfo won yesterday the Yeet giveaway.
So we pick one more winner right now, Charlie, and we can do one Omaha, one Lamb Chopper,
But let's give some money away.
Definitely recognize that man.
He said January, apparently.
Did you say January? I don't think I've caught apparently. Okay. I'm seeing this here. Did he say January?
I don't think I've caught that.
JPEG Savage, is that him?
Okay. So it's him. Oh, shit. I think it is. Okay.
Let's do Omaha for Yenfo,
and we can do some Lamp Chop for the other one.
Alright, Yenfo, we're going to play some Omaha for you.
First of all, you made $500.
Oh, maybe it's the sun later.
$200 here, then $25, $25, or $50 on flush or better?
So, that's the first run.
That's going to be queen high.
All right. We have some options here.
Should we try again? Same thing?
Yeah, let's do the same. Don't worry. Don't worry. You get another run. We're going run! Should we try again? Same thing? Yeah, I'll see the same.
Yenfo, don't worry. Don't worry. You get another run.
We're gonna win this one. We got it.
No, it's a pair of threes.
Yeah, pair of threes, but he's a high card king.
So wait, we can win with something.
Let's get a flush or better.
Just for logging to a show packed with alpha and interviews.
All right, let's move over to Lamb Chop.
All right, NFT Savage, I see you in the audience.
You're already up 500 bucks.
You get two runs of Lamb Chop.
What do you want? Difficulty. You get two runs of lamb chop. What do you want?
Difficulty you get two runs of 250 each. Congrats. That was fun. That one good call the one car Tyler
Good car to putting 25 on the one car. That was seven and a half eggs. That was nice. It was sweet
All right. All right. All right. He's like, all right, I'm rolling up his sleeves
Easy to the tracks. Let's go
Come on. I feel it. It's Christmas. Oh my God. Oh my God.
First base on easy. Man though. Dial it back, my friend.
How come Wizard of Soho, did you see his stream yesterday?
It only wins, right? I swear to God, Wizard of Soho is DE and I hire at Yeet, and they give him higher RTP.
Real quick, while we wait,
On Lamb Chop. He was playing
on hard mode and made a barn run.
He was doing lower stakes, but it is possible.
Same thing, I'm assuming, Savage.
He's like, what the fuck?
Wiz has a horse show up his ass.
Alright, you can cash it out and make $1,100. Or, that was clean. That was clean. All right. You can cash it out
I'm definitely going to listen to that.
We talked shit about Wiz, so he's definitely going to keep going.
It is Christmas, though, so I ain't going to say shit.
It is Christmas. It is a second, so I ain't going to say shit. It is Christmas.
I'm going to make my prediction.
I actually think this one...
I'm going to say this is the barn run.
I was going to say that, but I can't make the same prediction.
So I'm going to say this was a...
I'll say this was the last one run here.
Congratulations. You make 1152 here.
everybody's been hitting on the show lately.
but it's like a thousand plus for everyone.
So, we're giving a lot of money on the show.
So anyways, reminded to use the code FORMARHOUR for big moments.
Tyler, I will see you tomorrow morning, 10 a.m.
Another episode of FORMARHOUR on Rogue Radio.