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FOMO HOUR: Tariff Mania Escalates and Where Is The Bottom?
Recorded: April 9, 2025 Duration: 0:58:09Space Recording
Short Summary
In a dynamic discussion on April 9th, 2025, the FOMO Hour team explored significant market trends, including a historic stock market turnaround, the implications of ongoing trade tensions, and the growing relevance of cryptocurrencies as practical financial solutions. Key highlights included Ripple's strategic acquisition of Hidden Road and the partnership with Galaxus, signaling a robust future for crypto innovation and adoption.
Full Transcription
Thank you. GM, GM, everyone.
Thank you for joining us here this morning.
We're going to start the show in just a minute.
While we get our speakers up on
stage. I'll give a few shout outs. Oxy Medex, the homie GM, GM, Harry Krishna, always here.
T McNutt, another homie GM, GM AmpFax, Easy Poria, Kaus, I know a GM. Thank you for joining us. Who else we got? Joey B. Mr. B.
A couple of B's out there.
Google.
Hey, G.
G and L.
Single letters.
Powerful.
Establishing dominance.
Love to see it.
G, M, G, M.
All right, Sims.
We got some folks here.
I think we're ready.
Let's kick it. Thank you. Good morning. Good morning, GM, GM, everyone, and welcome to another episode of FOMO Hour.
Today, today is Wednesday, April 9th, 2025. Folks, yesterday, we said it was going to be
Turnaround Tuesday. In fact, it was. It was a historic turnaround Tuesday, the biggest intraday turnaround in stock market history,
but it went the wrong way.
And now China is clapping back on tariffs along with the European Union.
It felt like the sky was falling last night, this morning.
And the question is, can we even turn this back around anytime soon?
Or are we in for a lot more pain?
We're going to break it all down on today's show.
No Farouk, he's still at Blockchain Week.
Manda will be joining us, very likely here in just a few minutes.
But while we wait, we still have Logan on with us, live from Peru.
Logan, GM, how are you doing?
Hey, good morning, Tyler.
I'm doing quite well, despite the market antics. Just took a couple days off from my job duties to enjoy Peru.
And yeah, I'm feeling pretty good. I actually feel rather refreshed. I know it might seem crazy
that that's even possible, but market aside, I'm doing pretty well.
You picked a few good days to do that. And actually just quick, serious recommendation.
And folks, if you're on the timeline
and you're doom scrolling
and you see all this doom porn,
it is healthy to take a break.
Put the phone down, go outside.
Normal people outside of CT aren't running around,
they're hair on fire.
So I think that's always a good reality check.
So what were you doing in Peru?
Well, my fiance's family came in, she's here for a clinical rotation for, uh,
physician assistant schools. Her family came in. So we were just showing them around yesterday.
I went, uh, sandboarding, which is like snowboarding down a sand dune, never snowboarded
before. Uh, obviously it never sandboarded. Um, so yeah, just, uh, you know, taking in some of
the stuff that we don't have the
opportunity to take advantage of where i live in rural pa and enjoying it and as you as you noted
being away from the screens it's been like four days now since i opened my laptop more or less
um it doesn't feel quite as bad when you just close it it doesn't feel it does not feel like
chicken little world is you know sky, sky is falling out there.
Of course, as soon as you open up the laptop, things change quite dramatically.
Last night was the most the sky is falling, I think I've seen in quite some time on X.
And this is bigger than just CT.
This is like TradFi X as well.
We'll get into it here in a minute.
Before we do that, though, Logie, I think you also have a bit of a crypto solves this anecdote from Peru. You want to tell us a little bit about
that? Yeah. So man, I was trying to get some cash out for this exc uh, my gosh, the, the difficulty in getting funds into my hand from my bank account
here, uh, into my hand, into Peruvian Solace to be able to hand over to the folks to go sandboarding.
I was standing in line. I had to walk from Western Union to Western Union, to other Western Union,
to another place, do this thing, do that thing. It took me like five miles of walking and two hours of, you know, just kind of waiting in lines and stuff.
And the entire time I was thinking, man, crypto really does fix this.
If I could just send some USDC to these folks.
And the issue is they do have, they have like things like Venmo and stuff, but I need a Peruvian bank account to use the ones that they're using.
and stuff but i need a peruvian bank account to use the ones that they're using it's not as simple
as just like no intermediary let me send some usdc uh to this to this gentleman's um ethereum
address so yeah it's one of those days that there are it doesn't feel like there are too many of
them tyler at least not right now but it's one of those days where you actually just step back and
you're like all right you know crypto makes a little bit of sense. At least a little bit of sense.
Well, we love that takeaway.
Live from Peru while you were off from the screens.
Mando is on with us.
Mando, big day.
GM, how are you doing?
Yeah, huge day.
I'm doing okay.
I'm doing okay.
Busy, but good busy.
Market seems to be bouncing back slightly, I guess.
It definitely doesn't feel like we're going to zero.
I mean, all the stuff that I mentioned yesterday
has kind of just gotten worse, I would say, in macro.
You know, 10-year bond yields went even higher.
Stocks went lower.
You have the rhetoric increasing from both sides.
Interestingly,
like there's been certain rhetoric,
at least over the last few hours,
which is like more military based,
I would say.
Like there was a comment from Peter Hegseth saying,
we're going to repatriate the Panama Canal.
Remember that is owned by a Hong Kong billionaire,
who had just sold it to BlackRock,
but,
but China was going to block that sale.
So I don't know what that means.
and then similarly,
China just issued a travel warning for its citizens going to the U S which you would normally do in like a,
uh, in, in a, in a time a time of something's about to go down.
So I don't love those two headlines.
And I don't love the increase in rhetoric on the defense and side.
But markets are bouncing a little bit.
I think people are still kind of wondering
what's going to happen here.
Like, does Bitcoin feel like an okay hedge
suddenly now again to all of this?
Even for people from all over the world,
like I think people, this isn't,
this is now affecting a lot of different people.
And I think people are wondering where to put their money.
Should they put it in Chinese yuan?
Should they put it in yen?
Should they put it in euros?
Should they put it in dollars? And I think a few people decided, hey, actually,
I think Bitcoin might be the one just to hold over this period.
So I put out a tweet before we went live.
I kind of felt like Bitcoin was,
it's held the 76 and a half K level
through some wild macro stuff here.
Like, and I just get the feeling it could pop.
I really do.
You're already seeing money printing
kind of being announced.
I think
sorry
some Japan
said they might basically do helicopter money
China's
the only way China can deal with this is by
massive stimulus
and then
there's some talk about the Fed intervening
but not in
not traditional QE and not lowering interest rates.
So it's like swap lines, making sure banks are well-funded.
We may see a headline around that, I feel.
Well, I want to go into all this here in a bit more detail.
Before we do that, I mean,
and thanks for teeing up our full market report there.
I do want to give a shout out
to our show partners here
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All right.
Well, Mando, I know you kind of already started your market report there,
but let's get right deeper into it.
Yeah.
Who is the man?
Macro daddy is the man.
Can you dig it?
Yeah, so I guess I did kind of already get into it. Sorry if I jumped the gun there. Can you dig it? at least between China and the U S in fact, it seems to be getting worse by the hour.
and as we said yesterday, there's a lot of ways that these two people can hurt each other.
And they're both kind of strong men who I don't necessarily think one of
either of them wants to back down.
now,
now the U S obviously started almost like a trade war with everyone at the
same time.
So you could see
some better headlines over like deals with japan or deals with south korea or deals with australia
uk like easier deals these things do take a little bit of time though like it's not
like just the uk has been waiting on a trade deal with the US since Brexit.
It's not like, oh, yeah, deal done.
These things can take a long time often.
So let's see.
And yeah, particularly about the EU.
The EU does not move quickly.
And they've said they're going to do retaliatory tariffs as well.
So I don't know.
If I was Trump or the Trump team here,
because I think there's some internal division already starting to show here,
it might make sense to indicate
you may be willing to do some deals
with more allied
partners, let's say.
And I think
that is a headline where probably
if it says US
set to announce
deal with
or set to announce deal with Japan, South Korea,
I think the market would rally pretty hard on something like that
because it signals
that they're already in the deal-making phase of this.
But I don't know when that headline is going to come.
I think the bullish thing for Bitcoin, which I've said for the last few days,
and obviously it's gone lower even on the last few days,
is that we're about to see unbelievable amounts of money printing.
And when it stabilizes, think bitcoin really pops because of that um but you just don't know the headline like if china invades taiwan that's not a great headline um that's really not a good
headline because uh and this you know this feels like it's going not terribly that way.
Like, you know, maybe North Korea starts to get involved too.
That's like a China proxy and has been involved in some of this stuff before,
like North Korea versus South Korea.
Maybe that's flares up.
Like, this is not just we're going to strong arm China.
They have a lot of different things that they can do, I think.
And that's not like saying that they are stronger than the US.
I'm just saying that there is some stuff that could go down here
if this isn't resolved.
So I think you have to just be aware that if you're long,
you're praying there's no more crazy headlines and
there's some loose level potentially of resolution, at least with allies. But over the next three
to six months, I think this is a very good buying level for Bitcoin. That's my general
view. Because I think money printing in this world is about to go wild.
And I also think there's a lot of questions about reserve currencies,
like what to own.
And I think Bitcoin does well in that environment.
So I can never predict what's going to happen over the next 24 hours or week
at the moment because it's just crazy.
But I do think this is a good buying zone here for Bitcoin.
I had that same read.
No idea where the bottom is.
It could be back at 72K.
Maybe it goes lower.
KBM has been calling for 60s, maybe 50s.
But if you are DCAing in, it does feel like a pretty decent level here.
And I don't know. I think this has kind of been mocked
a little bit from the bitcoin just trades with traditional markets but it does feel relatively
strong to me i could stand nine percent on the week like the i think the mag seven's down something
like 15 to 17 percent um definitely strong bitcoin bitcoin is really
outperformed here like you have to understand that this is this is a classic case of a correlation
of one sell-off and by that what i mean is every single market is selling off oil just went below
60 uh stocks are selling off bonds are selling off and even gold
sold off for a little bit
you have a correlation of one sell off
where everything's going
and I think
that is
that will affect Bitcoin
but a lot of the stuff that's happening here is kind of
bullish I would say
for Bitcoin provided that there's no like
World War 3 they're bullish i would say for bitcoin provided that there's no like world war three um
and that's the one kind of uncertainty for me so yeah i i think dca or have a long-term view here
i'm not saying that bitcoin can't go lower i just feel like this is a good a good point for it here. This 76.5K level is held through a lot here,
and something would have to really go wrong in my opinion now.
Or, yeah, maybe we had some crazy headline, you know,
like, oh, ship seen off Taiwan, like, oh, God.
And then we could hit, like, 60k or high 60s,
something like that.
But yeah, I don't know.
It does feel like maybe we're on that trajectory.
I mean, this is escalating rapidly.
I think that's one of the consensus takes
from the chats I'm in,
who folks who have been following this
kind of daily since last Wednesday.
Like this China trade war,
it was 25% and 50% then China matches us comes back.
Now China is escalating. And then now the right before the show, you know,
this risk warning to travelers. So certainly like that,
hopefully just another like sign of escalating rhetoric rather than more than that.
Certainly as an American,
hope that is the case here.
Man,
no curious for your thoughts.
I mean,
last night,
like I was,
I was on CT on Treadify Twitter and it really felt like the sky was
falling.
I think everyone was talking about the bond market and bonds breaking and
this, like the sky was falling. I think everyone was talking about the bond market and bonds breaking and this swap rate going incredibly,
like falling off a cliff.
I'm curious, any insight?
What the hell happened last night?
And why aren't we lower?
I thought when I was watching this all unfold,
Bitcoin was going to 75K.
I was like, we're going to open deep red tomorrow.
Yeah, I'm less worried about banks not having liquidity.
In fact, I kind of see that as semi-bullish,
because I think the Fed would just step in and provide that.
I'm more worried about sovereign bond market.
So if that figure goes to like 7% on the 10-year or on the 30-year,
that is not a great scenario.
And you could see various countries defaulting and you could see the U S even
facing real issues with its own deficits. Right.
I, I don't know if that's going to happen or not.
It feels as though I wouldn't rule it out.
I wouldn't rule out that is also like a big worry if it keeps on going.
China's got $750 billion of treasuries it can sell
there were some reports that they were selling yesterday
but there was also some reports that this was actually like a blowing up
of a basis trade which is like
unwound between futures and cash
so if it's that
and you've still got
that China can sell
$750 billion
that's not a great headline either
yeah I'm not sure on that one i'm not sure on that one like uh that that's the other if 10
year goes to six percent plus here that that would really uh that would really worry yeah
worry me definitely one to to be watching there and cautious of i think something that stood out
to me was some of the the u U S leadership rhetoric coming out this morning.
Trump's all over the place. He's saying pass the tax cut bill. Now,
our country will boom. Um,
it feels a little out of left field and not the right.
Be cool. Be cool. Be cool. Everyone.
We're going to be bigger than ever here in just a few days.
The problem, of course, everyone from CT knows,
the last time Trump told us to buy something, it was Ethereum.
And it went on to fall 50% in the matter of a few weeks.
So we are a bit cautious when someone with the last name Trump
tells us to buy an asset.
Bissett coming out and saying for the next four years,
it's Main Street's turn.
I mean,
I've been a Bessent fan,
spoken highly of him.
This comment feels a little out of pocket.
I'm not really sure what it means.
And I think there's a lot of evidence that the terrorist would impact
Main Street,
perhaps even more so.
I think they're winging it.
I genuinely do.
I think they're just kind of seeing what happens
and then the narrative can kind of shift.
I don't think it was really pitched
that Trump wasn't going to be good for the stock market.
I think this has just kind of become the pitch now,
which is like these are more populist policies,
which could really hurt,
but they'll be good for us in the medium term.
I think a lot of that is just political talk,
and that's not like being anti-Trump or anything.
I just think that narratives can shift,
and they'll own it,
and they're always going to spin it as a really good thing.
That's just that's just
politics yeah and the same time i mean i think more and more folks are starting to call it like
one of the worst policy mistakes in century effectively and yeah i mean definitely not
i mean i think we called it on the show even at the time. I think the tariff stuff, the way it was done,
it's maybe not how I would have done it.
And again, I've read some commentary more recently,
which has been like, oh, it was meant to,
this has now just become like a China fight.
And I actually thought that that from the start
was kind of what Trump would do
but he's also
just kind of
even the comments yesterday I think you saw it was like
everyone's kissing my ass to do a deal
it's not great diplomacy
at the same time I would
say like if he was also
if he had like a lot of friends on his side at this stage
I think his position
would be stronger but what i think people are reading through is that maybe this is hurting us
um dollar power and the us is obviously the strongest country in the world and all that but
like part of the commentary around the rates going wider is that like people are a little bit more
like well maybe people will run into the hands of China
and something like this
if this is kind of how your friends kind of get treated.
So I think if I was in the administration right now,
I would work out how your friends are
and do deals with them.
Like, it's a very simple strategy for me right now, right?
If this is about China, make it about China.
I think there is some sign that they're going to do
that's what they might do
yeah
I think that would be the smartest move
so we will see I mean Besant
I think is taking more of a leadership role
he's driving the negotiations I think it's clear that there are
some negotiations happening Trump's lack of diplomacy, not the best.
If we're going into a trade war with China,
who has perhaps even, you could argue, an upper hand,
we probably want some allies and not just to piss everyone off.
I don't even think you can't.
It's not like you don't have to be a strong man.
It's just that I think it's gotten to the point where it's like,
you can be strong without being a total asshole.
Yeah.
And I think that's like,
you know,
the Europeans,
although they're weak,
they might not respond well to that.
And I think some of the other countries might not either.
So it like,
as I said,
like domestic politics is important for,
for politicians from those countries too.
So if he's just going to mock people if they need to make deals, then that's...
And to be clear, some of the countries have trade surpluses.
I've said this a few times.
You could deal with the UK like that.
The UK has a trade surplus.
Australia has a trade surplus with the US.
You should just do a deal.
And then it's like, okay, well, now we're kind of starting to guess who our friends are.
One thing that's becoming less of a guess is the recession odds.
I think Jamie Dimon said it's favored.
At this point, Polymarket's got it favored 65% US recession in 2025.
Scott favored 65% U.S. recession in 2025.
And that means negative GDP two quarters in a row.
So a worse Q2 certainly seems like it is pretty much a reality at this point.
Because even the negotiations that we're talking about as a positive case
are still going to take months to play out.
We're talking about April, May, June.
I think Besson said as much.
This isn't going to be done next week.
Yeah, yeah.
That's what I was trying to say.
That's what I was trying to say before.
These deals can take months.
Trade deals are some of the most difficult deals possibly to do
because they often involve agricultural bodies
and industrial bodies also to agree and unions and it's like they can be
really really long like who deals um or just general trade deals between countries like
nafta took years um any trade deal can take a long time so if it's if it's like hey we we were
a low tariffs for a trade deal those things can take months just even for individual countries.
But I think that's why I was trying to say,
with the UK and Australia, you can just drop it.
They've got trade surplus with you.
They import more than you do.
Let's start checking off some wins.
Let's start checking off some of the names in the 70 country list.
Yeah.
Logan, I see you're not.
I want to give you a chance to jump in on the conversation.
Just reactions to how this is all played out slash escalated since we last
talked on Friday.
Yeah.
Not too much different to add,
unfortunately from the conversation we've had over the course of the last
week.
Mando said it feels like they're winging it.
That's kind of where I'm at.
The headlines seem to contradict themselves oftentimes.
The commentary contradicts itself.
Some of the theses that we initially heard, right, like, hey, we want to get the 10-year down.
Like, maybe it's too early to say invalidated, but it's not working right now if that was actually the thing we're
looking to do. It's just, I don't know, it's tough. It's tough to be in this position and really say
too much. And it's difficult and painful to sit by as someone, you know, who, of course,
alongside the rest of you is losing money, is uncertain. So it's a difficult time. The comment
from Besant this morning kind of irked me,
more so than maybe any of the others.
I just throw Trumps out because whatever, they're all ridiculous.
But that Main Street versus Wall Street thing,
it seems so tone deaf.
At least from what I'm reading,
I just saw a Minneapolis Tribune article
about how small business just shut down
because they're
not gonna they can't pay the tariffs that's main street right there you're talking about i'm seeing
lots and lots of those stories and akman tweeted about some coffee company right same sort of thing
where is main street winning if the stock market's going down tremendously and the cost of goods is going up tremendously i don't know so yeah felt a little
tone deaf and he he had been better than that so that was a slip up if they're going to keep
going that route like okay tell us more and like a tax cut isn't going to help that either
right so it's unclear exactly what the solution is other than trying to get these trade deals
or ackman's uh idea of 90 day postponement to at least buy these businesses in time.
I don't know if it solves the issue or not.
Logie, you're a somewhat active trader.
Are you looking at any DCAs?
Does anything look attractive to you at any of these levels?
I'm just buying Bitcoin weekly. I mean, nothing like crazy. I'm not throwing heavy, heavy
stacks at it, but just continued dollar cost average, like I've done for a really,
really long time. It feels like the most comfortable thing. And as Mando noted,
I'm an even worse predictor of 24 hours a week.
No, it's not my thing.
It's not going to be my strong suit.
So I'm just going to add cash to what I feel is the best long-term bet here.
And to me, that's quite obviously Bitcoin.
Not financial advice, but that's what I'm buying.
Well, that seems a decent strategy.
Hype, I got gotta say like hype is
it's strong it's the top all mover today we had a fairly i had a bit of a deeper conversation with
osf about it yesterday he shared his thoughts he leans a little bit more bearish uh on hype
specifically but it's now back so So it hit that $10 level.
I think it went into the nines.
Yeah, like on Sunday night.
Now back effectively at the level of the exploit.
So it's back to $13.
So this is an interesting one.
I have not pulled the trigger back in yet.
But it is clearly showing some strength here.
We talk about Farcoin every day i don't know
that we need to really go deep into it today it's at 576 million which is just wild again
um i don't know if you saw this while you're away from the screens loghi but basically
amidst the the sky falling crypto sell-off Sunday night, Black Monday, turnaround Tuesday.
Then the bond market's breaking last night.
This token is holding incredibly strong.
Really never went below 500.
Yeah.
Yeah, to me, this is a little bit of that second leg of its potential narrative. Everything else is
complete garbage.
Then you got kind of Fartcoin.
It's like everything,
nothing matters, Fartcoin.
That's...
A little bit of the financial nihilism
take there. I do think that
is kind of a part of it.
It's like if the sky's falling,
all the good tokens are going down.
Why not just throw it into Fartcoin?
I mean, ETH has been, ETH was at $13.90 yesterday.
That was, the $13 handle was tough to see.
Is there a price?
Or you're thinking about switching that DCA over from Bitcoin into ETH?
Is that $1,000?
My gosh.
It's been that price for a while, it feels like.
And I've just never done it, thankfully.
All these prices to me for Ethereum are sort of jarring.
I don't have the bulk of my crypto experience,
although I did participate a little bit in 2017, 2018 and stuff,
the bulk of it comes pre-2020, 2021.
And so my anchoring for price points for Ethereum, there's not much of a history and context for me below like $1,500.
You know what I mean?
So all of this stuff is quite jarring.
I still just, it is the rails for so much stuff.
You know, I mean, if things really play out the way
that I think a lot of people want it to play out in crypto,
which is tons of adoption, millions and, you know,
maybe billions of people using crypto.
Like Ethereum almost has to play a role in that it feels like feels like um i'm not suggesting it really will
but it does it's difficult for me to see a world in which there are billions of users participating
in crypto and ethereum is not one of those uh like. But of course, that doesn't mean that the price has to go up.
I guess.
It is a tough one.
I am aligned with you conceptually.
If crypto wins, Ethereum wins.
Right after Bitcoin, it's the next part of the conversation.
And from a utility standpoint, it enables more, right?
But my God, it's at 1490.
This is barely above the levels when I started buying in December 2020.
I got in around 1,000 to 1,200.
And I mean, it was 4,000 December 16th, 2024.
That is jarring.
It is down from 4,000 to 1,400.
I mean, there are shit coins down less than that in that time frame.
So I don't mean to harp on this.
Everyone knows ETH is down bad.
There has to be a level where this whoops to a buy.
I don't think it's going to zero.
Let's move on.
I think there is another hot token, Logie.
We were chatting a little bit about this before the show.
Saw a tweet from DGEN Ape.
Some may know him from – he's a bit of a trader.
He's deep in fantasy top.
He was talking about this prompt token.
Apparently prompt is, this is the Wayfinder team token.
It is trading on a pre-market somewhere.
I don't know that this has been broadcasted very widely.
Why don't you tell us a little bit about what you had a chance to look into here?
Yeah, so what you're seeing, if you're taking a look at the screen, you see the DJNA tweets.
They point to a pre-market from Mexi, which does not have a ton of volume.
Yeah, about $45,000 worth of 24-hour volume.
But it's similar in nature to the pre-markets we've seen from Whales app and others previously.
So not a ton of liquidity, not a ton of movement, but there is a price point at which we can at
least start to discuss for prompt. And based on what we know from the OKEx announcement as well,
a $1 billion total token supply. So you see 65 cents was the time of his tweet.
I believe before the show, Tyler, I sent it to you,
it might have been closer to 8 cents.
Sorry, not 65 cents, 6 cents.
Yeah, 6.5 cents.
It was closer to 8 cents when I sent it to you,
which would be about an $80 million FDV,
if I'm doing that math right.
Which, of course, based on our conversations and
disclaimer, I'm a prime casher and I'm expecting to have some sort of airdrop here. Feels low
or lower than maybe I was hoping or envisioning, but we'll have to wait and see what the market
truly brings us. Unfortunately, and I don't think Kalos,
and based on that conversation we had last week,
which we encourage people to watch
to get a better sense of what this actually is,
they just seem like builders, man.
They're just like, this is revolutionary.
This is going to be impactful.
We don't really give a shit about the market type thing.
It kind of felt like Garga Ape-esque in that way to me,
which I like.
I like to hear.
It's just, it is rather unfortunate
that there were very much pockets of time
in which this could have flown out.
You know?
Here's the thing.
If this is...
And kind of at the mercy of others.
If it opens at $70 million FTV,
I'm buying.
Probably a lot.
This seems to be the best crypto AI product that we've had to date.
And if the best crypto AI product we have to date at $70 million is a bad trade,
then I'm just going to have to eat that.
And Logan, OSF, actually, he pulled me up a little bit uh we talked about the ai trade for about 10 15 minutes so he's been dcaing back in
pretty much with the core thesis that ai is is the of course like the biggest theme in the world
is coming back like there's going to be another crypto ai meta it's just a matter of
trying to predict who the winners are going to be and he's got his chips on ai 16z i think putting
your chips on wayfinder and prompt is fine i guess or better than fine i mean i think it would be one
of my top picks but at the same time i guess you can make an argument that if prompt is so good,
why isn't prime trading higher? So prime at a hundred million market cap, 350 million FTV.
Like it can, can prompt flip prime? Why wouldn't it? I don't, it's difficult for me to see a world
where it doesn't. Um, that's a little shocking to me. Of course, this is the way
that I am
hopefully earning prompt
is via the cashing of Prime.
So I've been buying and or had
Prime, Jesus,
in the $25 range.
Feels bad to kind of look at this
after that.
Yeah.
To be quite transparent, I have not looked at the price of ARK After that. Oh my gosh. Yeah. Yeah. I had stuff,
I had to be,
you know,
quite transparent.
I have not looked at the price of ARK,
AI 16Z.
And I don't even know what are those at right now.
Are you sure you want to know?
Yeah,
sure.
I don't own them,
so it won't feel quite as bad.
So there's four tokens over a hundred million now.
Alchemy is a very volatile one.
It kind of,
it flipped like some days it'll be up 34%.
It'll be down 50% other days.
It's now number five.
AIXBT is six at 61 million.
ARK is,
oh boy,
Jesus.
I was buying that at 400 million
when we thought we were starting to turn around
after the first
dips post-TrumpCoin
because it seemed like
it was going to be a winner.
Unfortunately, it has not been a winner
over the last few months.
But to me,
and let's put FortCoin aside
because it honestly doesn't really belong on the
list at this point.
I think it could be the number one.
I think prompt could be number one on this list.
I definitely think it could be.
I'm certainly rooting for that.
Even what we've seen in just the,
the small samples of early access,
right?
Whether you saw it on the stream here you've been following
their twitter account to see those like in terms of power and advancement and realness i don't know
what the best way to characterize it is really but like this is something a bit different than
ai16z uh well you know and that's not to knock any of those, but it's different than those things. And it's certainly
different from many of the social
agents, which is what
Adrian had called them on the stream we had.
It's certainly different from many of the social agents
we saw that were just replying to Twitter,
you know, zero, things like that
were just replying to tweets.
it would not shock me
to see it really actually come out at 70 million.
It would be well below my initial expectations, but just this market, I mean, come on, man. It's,
it's, it's tough. Like, what are you going to do when stocks are falling like 15, 20% over the
course of a couple of days or, you know or more, like it doesn't, you know,
the brand new AI token deserve to be more than 70 million.
Like maybe not whether that, you know, whether that's fair or not.
So I mean, if you were a believer, that could,
it could be the best launch scenario. Yeah, that's true.
I mean, everyone wants like the big airdrop, right?
But I feel like that also changes your mindset.
Like when a token opens up high and you get a bigger drop, you're incentivized to sell and then you're almost kind of rooting for it to go
down um because you want your sell to have been the right decision right and you're and you're a
bit conflicted um versus the tokens that come out lower and then everyone gets to rally around it as it continues
to march up to
a more true value
and more of the true values of any of
these things.
It is a tricky launch market for sure
but I think this, I don't know
that this is a team who's going to try to time it.
Right? Like clearly, if that's all
they cared about, they would have forced the launch back into
the bubble and it probably would
have gone straight to a billion.
Yeah. You would. Yeah. You wouldn't have asked, you know,
to go way, way back here.
They asked the community when the community wanted to launch the token,
when the TGs, there was a, there was a Dow vote for this.
And unfortunately what they had to extend a week or two to make sure things
were right, which stinks because it didn't uphold the vote, but also to ensure that there was no complete catastrophe.
So I'm OK with that as someone who's expecting some level of airdrop here.
But they put it in the community's hands.
This wasn't a, you know, we're going to rush this thing out to enrich ourselves or anything like that.
Yeah, well, we'll certainly see.
What also caught my interest in that DGNA tweet, I'm not going to go back to it.
He said we'll find out tomorrow.
So I don't know anything about TGE coming tomorrow, folks.
I don't believe that has been announced in any capacity.
But that would be a fun Thursday surprise.
Well, the settlement for the pre-market on Mexi says something like, yes,
April 10th.
And then I don't know, I don't want to say confidently,
because I've X'd out of the OKX thing.
There was an announcement, of course, that this will trade on OKX.
That was retweeted yet right there.
I don't want to say confidently that it said tomorrow but i believe like the trading starts soon-ish um as well so yeah that's at least a good place to start if you wanted to
get some more information we know it's soon we know it's sometime in the next seven days
so tomorrow very possible we will certainly be looking for it.
I want to go around the horn
on another couple of quick stories
on things that could be a buy along this line.
So you may have missed this, Logie,
or maybe you caught up.
Blockbuster acquisition yesterday.
Ripple acquired Hidden Road for $1.25 billion.
Hidden Road, one of the bigger
institutional payment clearinghouses,
they cleared $3 trillion a year in transactions.
So Ripple kind of becoming a force here.
And that inspired Standard Chartered to raise their price targets.
So they're now projecting that XRP could jump 200% by the end of this year
with a $12.50 price target by 2028.
That is a 6X more.
It's like $1.75. It's at like a dollar 75.
It's probably closer to like an eight X from here.
And since dollar 80, I'm curious, any reactions or have you,
has buying ripple XRP actually ever crossed your mind?
And second part, should it be on your mind?
It's crossed my mind from time to time.
And, but not, you know, but not for any real fundamental reasons,
more so like narrative reasons, bull market reasons, those types of things.
I think it's interesting mainly because if you do start to see a narrative and sentiment shift
and you do get the people on Main Street, you get the,
you know, the more casual crypto investor feeling like crypto could go up soon, which they probably
don't feel right now. Ripple is one of the best bets in those instances, right? Those scenarios,
like it, it goes up when people are feeling really, really bullish and crypto starts to gain more attention overall.
That's where it's been like a really strong.
It's not like a super strong thesis or anything, right?
It's like largely anecdotal that I'm providing evidence for.
But why not?
I think about it.
Yeah.
Is there a more mainstream crypto token than Ripple?
I don't think so. That's what I mean. Ripple is mainstream. Yeah. Is there a more mainstream crypto token than Ripple? I don't think so.
That's what I mean.
Ripple is mainstream.
Yeah.
If people are starting to feel like this is going to happen,
there's going to be, I don't know, crypto advancement.
I don't even know what the right way to say it is
because it doesn't feel like it's coming.
That's the second part here,
which is one of the reasons I'm not i'm not too interested in buying
anytime soon is like the turnaround and the sentiment shift that i would think precedes a
ripple rush upwards doesn't feel like it's coming anytime soon that's that's what i'm i'm getting
at i guess that's fair and there's probably a few other assets that might run first.
What I will say is I feel like I've never held Ripple or traded it.
I think there's the criticism that it was more fluff.
There wasn't a whole lot behind it.
Now there is, though.
Like I said this yesterday,
it's almost like becoming the fake it until you make it play.
And if they have enough capital to acquire these actual powerhouses,
maybe the fundamentals actually start to be there. So that's going to be an interesting one to watch.
And the other one is Coinbase. Coinbase is by Cantor Fitzgerald, Howard Lutnick. They're calling
Coinbase stock overweight, but they actually, the headline might be interpreted the wrong way. They're calling it a buy.
And they pointed to the relationship with Circle
and Base's outperformance as some of the drivers.
Curious, any quick reactions to that, if Coinbase
feels like a buy here or not?
Yeah, I love Coin coinbase the brand i'm a i'm a user i know it gets a lot of shit for more active on from sorry more active on chain participants
um but i think this is one of the most important if not the most important brand for adoption
and to act as an ambassador for crypto and its best interests,
not only as an ecosystem, but the best interests of its participants as well.
So I really like Coinbase, of course.
You know, I can't comment too much on the financial stuff just because I don't know
them.
So I would defer to the analysts, of course.
But by all means uh the innovations
required to advance alongside crypto create your own l2 stable coins all that stuff they've been
every step of the way they've been right there so i would not bet against coinbase if you believe
in a future in crypto um and i think many of us here, we wouldn't be here otherwise, right? So I'm totally on board with something like this.
It's an interesting one. I feel like my opinion changes almost by the week,
by the month. Like one of the bull cases that Kenneth Fitzgerald laid out
is that relationship with Circle and the large fees they get.
But we also just saw Circle delay their IPOs
in reaction to the FUD they received when everyone found out that Coinbase makes more fees than they do.
So that fee revenue could be going elsewhere.
I think the really difficult part about crypto stocks is they just feel too much like proxies to crypto.
Yeah.
And so why not just buy Bitcoin? they feel too much like proxies to crypto. Yeah. And, you know,
and so like,
why not just buy Bitcoin?
Why not just buy whatever,
you know?
And I don't have a great argument for,
I don't,
I don't know what the best argument is to dissuade somebody from like,
you know,
of course there's opportunity costs involved when you're buying Coinbase
versus buying something else,
anything else,
whether it be crypto or not.
So I'm not sure what to suggest to someone
if they were looking to have that argument answered.
That would be my loan issue here.
Yeah.
As I'm looking at this, it's kind of a question.
So Coinbase is basically 50% off high.
So it hit 300, it's at 150 right now.
Do you think it has a better chance to double
and get back to all-time higher Bitcoin?
It's like an interesting trade question right there.
I have no reason.
I don't have any really strong reason to suggest this,
but it feels like it would be easier for Coinbase.
I don't know why.
Maybe just because the... It's been there. why maybe just because the it's been there like a hundred yeah it's been there and also like 150k bitcoin just feels
yeah never been there i mean it just doesn't feel like it's possible it's hard to lay out
the past you know right now on april 9th amidst the the tariff trade war uh markets melting down
unless bitcoin really pulls through
that digital gold narrative,
which we haven't seen yet.
And maybe we'll have to save that.
I know our buddy Bob Lucas had some comments.
We might have to save those for tomorrow.
It's a longer conversation.
I did want to catch you up on one big storyline
that's taken place while you've been gone,
is we are bringing extinct animals back from the dead.
So I'm not sure if you're aware of this, but the dire wolves are returning.
Colossal biosciences is leading the charge on this and they are taking extinct breeds
back.
And I don't know that the full vision for this if it's just going to be
like museums or like zoo museum hybrid or exactly what uh their plans are of course the meme
corners ran with this which is a part of the story here but romulus and ramus first dire wolves in 10,000 years. Any, any quick reactions?
I think this is really cool that this is a,
an option.
there's so many second order effects.
I don't even know.
And,
you know,
having done this now in an administration that like,
you know,
hands off,
no rules type thing,
who the hell knows,
you know,
what may come next.
Uh, I saw a lot of like Jurassic park memes alongside this.
It's non-zero. Um, it is non-zero, which is a little scary,
but I guess if I had to choose like,
if I had to choose Jurassic park versus like major war with China,
which also, you know, who the hell knows,
I think I'd probably just pick Jurassic park picking I'm picking Jurassic Park 10 times out of 10.
Those are the options.
all right,
folks,
we went around the horn.
we covered most of the topics.
We've got one more,
more special topic here,
to get into before we end the show.
Sadly,
Mando had to run,
so he won't be here.
He'll have to catch us up.
once this all becomes a little bit more official,
but here at FOMO, we have a new show partner announcement. do you
sims
what do all
others need to
know
that's two days
in a row
i've been on
this show
guys might start
making it a
normal thing
when people are
we love it
so yes
we do have a new
show partner
unfortunately mando can't be here to announce it.
He's had to, as the number one,
he's had to be called to the ranks.
So he's going out there and working away.
But we want to say a massive thank you to Robert,
who have been an incredible partner
for the last few years.
They've been amazing.
But we will be moving over to Yeet now.
You have seen there has been no code
the last few days,
just because there's no,
I can see the meme,
no Farouk, no code.
No, that's not the case.
We still do the codes and we still do the stuff when Farouk's away, don't worry.
But we're going to be changing the system.
We're changing the sponsor.
We're changing the system.
There won't be a code going forward anymore.
We're not going to be going with that system.
Instead, you will need to sign up to Yeet using the referral code for Moower.
Once you go on to Yeet, you use a profile and you need to do it within 24 hours, very important, you add FOMOHOUR as a referral code, and you will be in the system.
That means every single day when we do the spins, we're doing a thousand, I don't have
spin anymore, excuse me, we're going to be playing custom games where people could win
a minimum of a thousand, up to quite a lot of money.
So there'll be five across the week, Monday to Friday.
And we'll be doing all these different games of people, getting them involved.
You'll still have to come up on stage.
That's how you claim the prize.
You need to be on stage to do it.
So we're still going to continue this.
But we will be picking winners from those that have the referral code
that we can see in the back on Yeet.
That's already linked to FOMO Hour. We'll be be doing a spinner as normal and it will go down from there um i can see
people saying there's a waiting list and various other things yes it's not live yet but we're just
making you all very aware that it will be soon when that is keep an eye on the twitter keep an
eye on mando watch all that and make sure that you use the referral link for MoAuer.
From there, that is where we'll be picking the winners
to bring them up on stage.
So you won't have to be putting codes,
you won't have to be doing retweets,
you won't have to do all this.
There will just be across Monday to Friday,
one picked through a normal raffle-type system.
Pick them in.
You still have to be on the space.
It's really important.
If you're not on the space, you can't come up,
you can't claim your prize. Bring you up do this whatever game we do from there and see
how much money you win it's really as simple as that but yeah new new sponsor new times i suppose
for the first week we'll get used to how it's going to be going we took a while to get used
to our spins on formal hour um yeah excuse me not formal hour with uh with robert it took a while to
get there but we did get there in the end.
I'm sure this will be the same, and I'm sure it'll be pretty damn
fun. I've tested the website myself, and it's
absolutely fantastic.
The custom games are interesting, and we'll
play the trailer again at the end. You can have a look at some of
the different custom games that you have on there.
We'll be rotating them day in, day out.
So some people will play one
game one day. Some people will play a game
another. We'll have a minimum win amount
that people will be able to take away at the end of it.
Even if they don't win big, we'll have a minimum
booby prize, if you will, whatever that is.
$25,500, I don't know.
But yeah, there's going to be some odds
to win some serious cash on the line here.
Nice. Well, that is very exciting.
So I'm definitely very interested to see all these new games.
I've gotten a glimpse of a few.
There's some good ones out there.
So I think our listeners and audience are going to love it.
Do want to thank RollBit, an incredible partner.
They've been our show partner since I joined the show last May.
So very grateful for them.
Also very excited for this new partnership with you.
So this is going to be a fun one or sure.
And Sims, do we know when we're officially kicking this off?
We're going to be officially kicking this out and shit off from today.
Right.
But when the, the actual spins or whatever, we keep saying spins, it's not spins, but
you know what I mean?
The prizes and the giveaways will start from Monday.
All right.
Keeping an eye on the Yeet Twitter
and keeping an eye on the FOMO Hour Twitter
for the video going live.
Once they are live, you know that Yeet is live.
Go sign up.
Using that referral code FOMO Hour is super important.
That's the key to entering now.
You don't need to be putting codes
and you don't need to be doing retweets every day.
You need to be going to Yeet. You need to be doing retweets every day. You need to be going to Yeet.
You need to be signing up with FOMO Hour.
That needs to be in the referral codes in there.
You need to put that in.
You only get to put one in.
You only get to do it once within 24 hours
of making an account.
Make the account, punch that in,
and then you're going to be in the draw every single time.
But you just need to be listening to the show, obviously.
Because if we do your name and you're not there,
you're not coming up.
Got it.
Now you know, folks.
So starting next Monday, some new games on the show.
So very exciting.
Sims, thank you for that overview.
I know we'll play the video again as we exit.
That is it.
That is going to be our show.
I want to thank our listeners, as always.
I want to thank our partners. Thank my co-host Logan. Thanks for jumping in here live from Peru.
We will be back tomorrow at 10 a.m. Eastern. Until then, go make it a great day.
Bye. Thank you. .
