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FOMO HOUR: Tariffageddon Arrives
Recorded: April 4, 2025 Duration: 0:59:49Space Recording
Short Summary
In a turbulent market marked by a 34% retaliatory tariff from China, crypto enthusiasts gathered to discuss the resilience of digital assets, particularly meme coins and altcoins, as potential safe havens. The conversation highlighted strategic partnerships, innovative projects like Midas, and the shifting dynamics of investor sentiment towards crypto amidst traditional market declines.
Full Transcription
Music All right.
GM folks,
thank you for joining us over here.
Some slight technical difficulties with the spaces.
We are back.
We are so,
so back.
We'll give a few shout outs here.
Cyborg,
Jeeves,
Trader Blue,
Mark,
Irking.
Thanks for joining us over here.
I think we are good to go.
Sims,
whenever you're ready, let's try to kick it one more time. Thank you. Good morning. Good morning. Good morning, GM, GM, everyone, and welcome to another episode of FOMO Hour.
Today, today is Friday, April 4th, 2025.
Friday, April 4th, 2025.
Folks, tariff again is here.
Markets crashed yesterday.
It looked like we were starting to rebound.
China slaps a 34% retaliatory tariff on us.
Markets fall some more.
There's blood across all markets right now.
The question becomes, is the pain over or is it just beginning?
And is it finally crypto's chance to shine? We're going to break it all down on today's show. No, Mando, but we still
have a full house, folks. We've got Farouk back. We've got Logan. We've got stats. What a cast.
Farouk, shout out to you first, GM. How are you doing? Live from Switzerland.
Good morning. Guten Morgen. Like they say in the Deutsch side of Switzerland.
I'm doing good.
Listen, I'm in the home of Ethereum, of the Solana Foundation, of Cardano, of every single
crypto company as we speak, live from Zug.
You know, that's where they're all based.
So maybe I'm going to go have a quick chat with the Ethereum Foundation about a 10 minute
walk away from me.
You know, my name does say still bullish, still foolish.
That's for sure.
I wake up every morning in Europe and the market's pumping.
I am here making Europe great again.
Every single day I woke up here, I saw a 20% fart coin candle.
And then you guys wake up and somehow manage to fuck shit up.
So we're going to have to have a chat today, but I'm glad to be here.
It feels good. And I'm glad to be here.
It feels good.
And I love it when you intro.
It's like, I like it.
I love the energy.
Well, I see a 20% candle on Farccoin right now.
So maybe America is pulling our own weight over here.
Because I called them out.
You know, I was like, come on, America.
Come on.
Well, thank you for your service.
Logan, live from Peru.
Folks, we are global today. This is a global show. Logan, Jim, how are you doing?
Hey, good morning, folks. Doing well. Again, another beautiful day here in Peru. A little sweaty after the walk here because it is so hot and humid, but otherwise, can't complain.
I'm trying not to look at the markets really at all when I got the sun shining. So I'm doing better than I could be.
We love to hear it, folks.
Staff's friend of the show, chief chart officer at Meme Land provides great commentary across markets.
Sam, how you doing?
What's up, boys? I love hanging with Farouk.
You know, he's just got such good energy.
Sometimes you forget it on crypto Twitter.
But like when you see the dude real life, you're like, I love this guy.
And Logan, here's actually some alpha. Not alpha. Here's a fact.
I actually had an alt account
on Frientech, and I was one of the early buyers
of Logan's Keys. I don't think he ever even knew it.
Wow.
It's nice to see the guy.
Yeah.
Nice. That's cool.
Logan's a sleeper, you know?
He's Logan. This is the first time I actually know what Logan looks like. What's up. Logan's a sleeper, you know? He is. I don't even know what he looks like.
This is the first time I actually know what Logan looks like.
What's up, dude?
Hello.
Yeah.
For real?
Yeah.
That's so good.
Yeah.
Oh, I think Sam exposing him that he doesn't watch our show all that often.
I don't.
I listen.
I'm like a spacious guy.
I'm not a YouTube guy.
That's fair.
I see you.
Yeah.
We'll let it slide.
Folks, what are we talking about on today's show?
Tariff again.
Wrecking market.
Stocks are down.
China retaliates.
Crypto falls, but rebounds.
The 10-year sub four.
California wants an exemption.
Job report was good.
We're going to break it all down.
Talk market impact.
Polymarket recession odds are at 56%.
We're betting yes or no on that. We're going to talk
meme coins. There's some strength out there. There's some strength in alts, Sonic. There's
some strength in all the Fartcoin, Tickcoin, Housecoin crew right now. And then we're going
to also debrief a little bit from our interview with Wayfinder yesterday. Man, that was quite
the conversation. And maybe talk to Sam about his recent punk buy and how he is feeling about that.
Plus, maybe what Meme Land is cooking as well.
Before we dive in, shout out to our partners, starting with Galaxis.
Galaxis is a Web3 platform empowering creators and brands to build unstoppable communities with full ownership and independence.
Trusted by icons like Donald Trump, Steve Aoki, Mike Tyson, and the NBA,
shaping together the future of engagement.
And Wallet Connect is the connectivity network shaping the future of on-chain UX.
If you've connected to a Web3 app, you've seen Wallet Connect, that blue logo.
It's everywhere.
An icon of trust in crypto, as recognizable as Visa at the checkout.
If you want to learn more, follow at Wallet Connect on X and Telegram
to stay ahead of what's next. All right. We love our partner. Shout out to them as always. No
Mando today. So I guess I will do a quick market report and then get into discussion with our crew
here firing up the screen share for those who are in the stream. Let's take a look at the crypto board.
Bitcoin, $82,700.
Up 1% on the day.
ETH, also up a percent.
$17.90.
So all the way down here now.
$116.
That's up.
That's up on the day.
Up 2%.
So what has been happening?
We had tariff again yesterday.
Stocks fell 5%.
Worst day in five years.
If you throw out COVID, worst day in a decade.
And then this morning, it looked like we were starting to rebound.
When I woke up, Bitcoin was $84,700.
It looked like we were all set up for just a fantastic Friday.
And then the news comes China is going to do a full retaliation, 34% back on U.S. goods.
That's on top of the 20% they had, so 54% tariffs live from China.
So markets did not like that.
Let's check in on where we're at.
Yeah, it looks like the Dow Jones down 3%, S&P's down 3.5%, NASDAQ's down 4%.
Jeez, Louise.
VIX is up 25%.
So volatility is at all-time
highs, effectively. Or at least it feels
like not.
Sorry.
Volatility is higher than the ones.
VIX was like over 100 during the financial crisis.
Got it. Okay. So we're not at all-time highs, but
much higher than we were.
Tenured at 3.9%.
So the first time we've been sub four
since basically September of 2024.
So that is down quite a bit,
almost a full point now from peak.
MAG7 index down in line with stocks,
so down three and a half percent here.
So a lot of red out there.
There's certainly a lot to unpack here sam maybe
i'll i'll throw it to you first manda was on yesterday we we had a decent conversation about
the tariffs what's happening perhaps our our thoughts what's your high level take
i mean i think if all this stuff goes through then equities have a lot lower to go because, I mean, I think the market, right?
I mean, if you look at like an Apple chart, like Apple has been built on globalization.
It's been built on cheap components, built on cheap labor.
Like that is what has built the biggest companies in America.
And right now, the one of the ideas here is that we are going to like, is that because of these
huge wins that American corporates have had, American manufacturers and the manufacturing
class has lost. And that is really the J.D. Vance philosophy that I feel is getting pushed here.
And if we're trying to reverse that, like perhaps a huge win for the working class for America, but a massive loss
for the big corporates. And the American stock market is the big corporate. So if that is the
goal, I think there's a lot more to go down. The question is, is that really the goal? How
relentless are they going to be? I think anyone who thought that Xi Jinping was not going to
retaliate has their head in the sand. I mean, the idea that China's,
you know, Trump always says that, you know, he rules with an iron fist. The idea that,
you know, this tariff announcement that was, that is pretty, you know, just pretty aggressive
towards China and other countries, the idea that he would just take it. Like, I mean,
this is a guy who shut down his entire country for three years during COVID. Like, he's very fine with short-term pain. So anyone who thinks that
Eric Trump tweeting, you know, everyone should listen to my dad, like, was actually going to
move Xi Jinping is crazy. At the end of the day, I think these tariffs would be terrible for both
sides, you know, if they stay so elevated with China. And ultimately, I think you're going to
get resolution. It's just very hard to know what's going on.
I just tweeted right now.
I have a headline from yesterday about how Trump was open to negotiations.
And I have a quote from Trump today about how nothing's ever going to change.
You know, like I said here, yeah.
Yeah, these are two quotes.
Admittedly hard to know what to think.
You know, this was a headline yesterday where he said it.
And then if you look at the next image, he
says, nothing will ever change.
So it's very hard to know the motivation here.
But I think there's a lot of potential volatility.
One thing I think is most important, though, is crypto is holding up very well.
And I think the two bull cases on Trump and crypto are one that he clearly wants to buy
a lot of crypto.
You got Lutnik, you got Loomis, you got a lot of these people, Bitcoin maxis kind of in very high power decision
making roles. And that has clearly played out. You know, Bitcoin's still up a lot since he was
elected. But the second thing is he's extremely chaotic. And I think that there is this theory
that Bitcoin's a bit of a chaos hedge. It's a bit of a who knows what the fuck's going to happen
with the US dollar hedge. And I think you're starting to see hints of that in the way that Bitcoin's trading right
now, which has not been true in the past.
In the past, Bitcoin's traded nothing like gold.
So I think three days does not make a trend, but I don't know.
That's a lot of rambling, Tyler.
Sorry to rambling.
No, that was great.
And I think I'm with you.
This is not the gold chart.
I'll have to find the gold chart here in a second.
Just Google price of gold.
You get it, I think.
B-A-R.
B-A-R is B-A-R.
B-A-R is not just bar.
That's B-R-K.
That's a bar, baby.
Bar's that.
I'm sorry.
They're granite.
I'll get it here in a second, and then I'll put it up on the screen. I think I'm with. This is their granite. It's all right. I'll get it here in a second and then I'll put up on the screen.
I think I'm with you in that.
There's just so much back and forth.
Like he's saying so many different things, like no negotiations.
No, we are open to negotiations and we're all just stuck in the mud.
Like what, if you run a business, like what are you supposed to do?
If you're an investor, what are you supposed to do?
And that's why I think this idea that like, I think there's a lot more proof to be had if what I said earlier is going to happen, that man, you're an investor what are you supposed to do and that's why i think this idea that like i
think there's a lot more proof to be had if what i said earlier is going to happen that man you're
like for manufacturing to be onshore like that's a five to ten year capex commit capex commitment
for nike like to say it is a better five like let me so not only will trump no longer you know in
all likelihood be president in four years and this is is all executive order, so it can all get unwound immediately.
But, you know, if you really wanted this to be something that that companies would make decisions off of, you would want it ultimately to go through Congress and have a little bit more state power.
But it can all get unwound. But also, you know, the more that he fluctuates, just like he did with Canada, you know, a couple of months ago where we saw he was hard on Canada.
And then he said, OK, we won't do it. We won't do it because you're adding a fentanyl czar.
Like that was enough to make him change his mind at that point.
You know, if you see that type of culture, you're not like, oh, I'm going to move my factories from Vietnam to America because five years, this is what you have to do.
So I think there's, you know, there's we got someone here saying it.
Biden did not
unwind china tariff's last one yeah i mean that that's that's true if these things stay on for a
long time it's a different story it's just at this stage right now it's very hard to know where we'll
be in a week do you think there's any chance that congress will step in because like what he's
doing is i understand and i have not dug in is this is a, he's basically using like certain emergency powers to do this,
which have only been used in a handful of situations.
And he's already starting.
I'm way outside my comfort zone here,
but I did see some posts yesterday that like Congress could maybe kind of
like step in on tariffs.
I just don't have enough expertise on the inner workings of Washington
to know. Sure. Which just adds to the volatility, right? We don't know what Trump's real plans are.
We don't know if Congress can get these effectively repealed. We've got states like California
are asking for their own breaks. California has to be exempt from the retaliatory tariffs.
And California's got one of the biggest
GDPs in the world. So that actually is a
big deal.
Did you see that Mando meme?
I haven't seen Mando's.
What did he say?
It's like California when
China hits USA with reciprocal
tariffs and it's just John Cena speaking
Chinese.
Oh yeah. Mando is on one for sure yeah that oops sorry that shit was
so funny i don't know guys i think i think this is you know part of the i think the best take was
sam talking about agent of chaos right like trump Like, Trump's chaotic. We knew chaos.
I think we said it on the show, like, for months.
Like, expect just masks, max chaos and max volatility for the beginning.
But he's also, he flips easily, Sam.
Like, he did it with Canada, right?
All it takes is a little call, a little, you know, a little thank you, you know?
And he'll remove those.
Like, as fast as he just slapped everyone with everyone terrace he'll probably remove them just as fast like for me like i'm down bad in spot but i'm also not like
i feel like a lot of people are fearful like i'm not scared like i felt scared after ftx i was scared
for my like economic situation personally right for my household my household, let's say, even though I have no kids, I'm scared
for my business, but I'm not scared
here, you know?
And I think Bitcoin at $82,000,
like, it's hard to be...
Yeah, people are, you know, it's hard to...
I mean, people aren't alts, right? It's like my Solana
bag is downly horrendously
and my Sonic isn't great, but when I see
Bitcoin holding so strong, and I feel like
this is where we can build this Bitcoin narrative.
Like a lot of people laughed at gold last week, Peter Schiff notably, right?
Like, oh, gold is pumping all time high, Bitcoin is getting decimated.
But this is where Bitcoin builds this narrative, I feel.
I was going to say, I think it's an important time to pay attention to the Bitcoin equities correlation and the Bitcoin gold correlations as well.
I know you're talking about that.
I've been following a little bit.
I don't have new hedge pro, so I can't see like the most up to date numbers.
But you can start to see that correlation with equities tweaking a little bit here because Bitcoiners and many cryptocurrency enthusiasts and investors, of course, have championed for a really long time.
It hasn't really ever come to fruition, at least in my opinion.
So we'll see.
We'll see what happens.
Could be a huge catalyst for Bitcoin here, right?
If Bitcoin outperforms here, especially if some of the big corporate stocks continue to fall, that's a big deal.
And we haven't seen it, right? I think some of the knock on bitcoin lately is it's been too correlated with the s&p i think sam you've been you've been even sharing some charts of what
bitcoin is correlated with it seems like it's out it's more correlated with what tesla than
it was the nasdaq yeah like if you go back six months, Bitcoin has been had zero correlation with gold.
It's been quite correlated with stocks and it's been even more correlated with Tesla than with the average than with the S&P 500 or NASDAQ.
So, I mean, I read that as like Bitcoin and Tesla are both trading as like, just to be blunt, like how many favors is the government going to do for these assets? Like, you know,
like how much,
how much is Tesla going to get pumped by Trump and Elon and how much,
you know,
Bitcoin clearly,
like we're all just sitting here waiting for Trump to pump our bags.
So I,
and I think that that's,
they've kind of just been trading as these,
as these,
you know,
sort of quasi like dunk on the libs,
like is Trump in control assets when he's feeling in control,
Bitcoin and Tesla do well.
And it's like,
you're not sure what's going on.
They've both done a little bit worse.
So there's been more correlation there,
but Tesla is down pretty bad today.
Right.
And Bitcoin's holding in.
It is.
And the thing about Tesla is like,
this is where I still don't know where we're at.
And broke,
you said you're not fearful.
And I like to hear that.
I'm not fearful either, especially not for a crypto lens.
I think from some of these stocks, though, I don't know.
I got a call from my mom this morning about her
401k, which I think may be the first time in history I've received
a call of that nature. But my parents are both retired.
They, of course, need and depend on that type of money
to live their lives and to create the lifestyle
that they're hoping to.
She's not a full panic.
She's not super into financial stuff anyway.
So I tried to reassure her as best I could.
But that was a little, just a small anecdote
that I'm sure more conversations like that
are happening throughout the world, particularly in the United States right now about like,
what's the future holding for people who really need that type of money to live every single day.
And that's not even to have the conversation about the potential price impacts at the consumer
level for people that aren't retirees and what may come there. I was just looking at a Wall Street Journal article headline that said something about
Americans are rushing to buy TV, soy sauce, and Lululemon workout to jump ahead of potential
price spikes from tariffs and inflation.
Yeah.
But I mean, those are very real impacts as well that are yet to be seen or maybe starting to be seen, but people are trying to get ahead of it.
Well, quickly, if you're rushing to buy Lululemon pants, you're not too worried about.
I don't think so. I don't think so.
There's knockoff brands you can buy, folks.
I feel like Lulu's making healthy margins.
Yes, quite.
As much as I love my $80 T-shirts.
Sam, I felt like you were going to jump in there.
Oh, no.
Yeah.
I mean, this is kind of what we were talking about earlier today, though, Tyler.
I still don't feel like we're treating it like it's real.
Like if in a week, you know, the average goods you get on Amazon go up 30% and, and, and like,
or buying a bottle of wine goes up 30% or whatever it is. Like, I like,
not only is my bag down, but shit's more expensive.
And that money actually is all going to the government. Like, you know,
there's something about like when, when prices are higher, you're like,
Oh, I'm kind of like, you know, you're, you're, it's just going, it's,
it's tax money, you know, it's going to governments. It's going, you know, so like, I think, I think in a week, if this all goes through,
it's going to be interesting to see how, I mean, and either consumers are going to pay or
corporates are going to pay and stocks go a lot lower. But I think we're, you know, I think right
now the market is still pricing in that there's some resolution to be had in the next six days,
that this doesn't fully go through. I also like, but to Logan's point, like there's some resolution to be had in the next six days that this doesn't fully go go through i
also like but to logan's point like there's there's a narrative out there which i just think is dumb
which is like oh like the average american doesn't care about stocks like this is just the elites who
care i'm like every caddy i've ever had sits around trading robin hood like i don't know who you guys
are talking to but like yeah i'm sure that there is a good chunk of people who aren't like deep
but like most people on some stocks in some way.
They don't date trade it, but they definitely have a 401k.
Yeah, if you have 401k or they trade stocks, there's a huge movement out there to try to like retire, you know, to save all your money, get more money in the S&P 500.
There's kind of this truth in America that stocks go up over time if you just hold.
Like there are a lot of people who have stock exposure. So I just I think there's kind of like the the shift to like oh the
average person doesn't care it's just the at least i i'm calling bs on that i think that's cool i
think there's also a lot of headlines right now right like all these people like logan i don't
want to assume what channel your parents watch but they watch the news on tv i'm assuming and
they see all the headlines so of course that whole you know part of the people in america
are starting to get worried a little bit. They want to go to the next.
We got Chandler making this point that I'm calling BS on.
He's saying there are a lot of people.
Yes, there are some, but this is a country that prides itself on stocks not tanking 10% in two days.
Logan's mom's calling.
My caddy's interested.
There are a lot of people who are affected by stocks.
Time to pivot the IBIT.
That might be the call.
I listen to the local radio when I'm going to pick up my kids.
Yesterday, they never talk about markets.
They're talking about pop culture.
Rightfully so.
They're playing music and keeping a conversation.
Yesterday, they said, don't look at your stocks, folks.
Your own stocks, don't look at them.
It's out there.
Proke, I'm curious, like what's the boots on the ground European sentiment right now?
You were, if you want me to go into where you've been the last couple of days and kind
of what kind of conversations you've had there, I'm curious.
I think like, well, I was, I was at Watches and Wonders, right?
In Geneva for this huge, like watch, it's like the biggest watch convention conference in the world and i was invited by richmond which is
one of the largest like watch luxury groups in the world right 120 billion dollar company and
the reason why they invited me locks our ceo and danny seat phrase is because they kind of want to
learn more about like how the minds of like the people in crypto are for us consumers but every
single brand we visited i had meetings with like 12 14 brands in two days
it was just one after the other i'm talking like pager i don't know like vacheron like the biggest
watch brands in the world literally they were so excited to dive into crypto and learn more about
crypto we had dinner with the head of payments at restaurant at um at richmond the entire group
or the head of all global markets been there for 25 years, they were the most excited about meeting us. So again, but we've said that before, Tyler,
institutional versus like crypto is such a different feeling.
That's why I guess I'm never bearish.
It's just because I see this wave coming.
Like I spoke to Zizia LeCoultre, like all these big brands.
They're like, wow, like we want to get into crypto.
It's just tough because money laundering laws, blah, blah.
We don't accept crypto yet.
And I get it.
It's tough to accept crypto at that scale but they're the most interested about
the people in crypto so i thought we were going to be greeted like oh it's the crypto guys but
they were all like whoa okay let's spend time with them and i sat with them for 30 minutes
to an hour with every single one of these brands like we're talking all these big big big conglomerates
and dude they're excited, man.
So there's this thing about crypto.
The head of global marketing, Richemont,
$100 billion company comes to you
and wants to spend two whole days with you
at an important conference like this.
I don't know.
To me, this is all telly.
They're interested by our market.
They're interested by our network participants.
And so it's tough for me to feel
any bearish to sell prices so up but i'm like logan i'm not looking much these days you know
and when you don't look much it helps it does help it helps so much my my aside from the fact
that the sun is shining way more here than it does at home which is a huge benefit um actually
like literally not getting on my phone to refresh prices.
Of course, I'm working in the industry, so I'm doing it quite a bit anyway, but it's
a life hack.
It really is.
Like, I don't even have, I don't have any of the apps on my phone right now, and it's
been beneficial during this time.
Logie just wants to disconnect.
Faroka, I feel like they're just tired of seeing the watch king
flipping watches as crypto bros make you know 50k on on fart coin and and tick on a daily basis
they want their cut of the crypto bro money uh but no i think it's a good side they do
they want our money literally because they know we have money you know they know it's real money
too right your money's in the bank you can't just go cash it out like that so you know
so i don't know for me i look at signals like that but it's just it's a longer cook yeah 100%
well in more near-term cooks there's a couple interesting markets out here so one number of
rate cuts in 2025 it's kind of a tale of two stories. So there's, I saw right before the show, there's like a 15% chance of a rate hike in 2025.
And I think we've seen some major banks calling for a rate hike.
Yet the odds of four cuts are the highest they've ever been here, up to 18%.
Wow, I'm just saying eight or more is up to, wow, that's new, folks.
I've been following this market.
Wow, so I'm a little surprised to see this here live.
Eight, 200 bips cuts is now up to 15%.
Wow.
So some huge moves in this market.
Sam, maybe I'll toss it to you.
Do you have a read on this?
Or is this just another total toss-up
that we have to just wait to see
how real all this is?
It's one of those things
that's so hard to say, right?
Because the Fed,
their primary goal
is to keep inflation around 2%.
And we were just talking about
how the price of many goods
could go up 30% next week.
But that's like a self-inflicted wound.
This is not like market dynamics causing it. So, you know, it's going to be, I think we're clearly going into what, like an inflationary period, but it's a bit of an artificial inflation,
you know? So do you use rate, do you hike or cut rates to fight that? Like, I just don't know,
or cut rates to fight that.
I just don't know.
So they're basically here saying
that growth is about to torpedo downward
and inflation is going to be high.
And what do you do in that environment
on the rates front,
especially given that the cause of the inflation
is tariffs as opposed to loose money?
So it's a very,
and I think that's,
it's probably rare
that you're going to get
poly markets so all over the place
when it comes to predictions.
And it's probably because
this is like an extremely
kind of almost unprecedented
set of circumstances
that we have here.
Absolutely.
I mean, Peter James,
the piercing volatility
has never been more real.
24% chance of an emergency rate cut in 2025 now.
That's up from 14% just yesterday.
I want to, man, how many rates?
I mean, and that's basically just saying, like, that was what you said about the moon overload.
I mean, I think, like, if you get some world where, like, the 30% price hikes or 20% happen across the board, maybe that's what we know.
Because emergency rate cuts basically say, we can't wait a month.
We need to do this immediately because things have suddenly got so bad.
And we didn't foresee it coming.
So that is a very acute kind of thing that would cause an emergency rate cut.
Yes, which feels on the table.
Like so many outcomes feel like they're on the table.
The other one is the recession odds now up to 56%.
So back on March 27th, these were 33.
So substantial increase here.
The definition of folks aren't familiar.
There's two.
Basically, if this National Bureau publicly announces a recession,
so that's a little bit more wishy-washy, right,
because it comes down to rhetoric a bit more,
and we can see governments perhaps use different types of language.
But the number two here is more metric-based.
And so seasonal adjusted annualized percentage change in quarterly U.S. real GDP, if that's
negative for two straight quarters, that meets the definition of recession.
So I'm pretty sure that we know Q1 was net negative.
I think I've seen the Atlanta GDP numbers.
There's somewhere between minus 2.5% to minus 3.7%.
Sam, I'm not sure if you've been dialed into that much at all.
So to me, the bet here is do you think if Q2 is worse than Q1,
this is like a lock?
I mean, have you looked at this market,
and do you have broader thoughts on recession here?
I haven't.
I feel like U.S. recession is so, I don't, I don't spend,
I feel like us recession is so definition prone,
like this type of thing.
Like what,
you know,
and I feel like it,
it like,
it's like if growth is 0.1% versus negative 0.1%,
like there's just a difference in 20 basis points,
but we freaking fuck out because of that.
Like that term,
it just feels like kind of a media contrived,
like kind of like a over hyping of
the number zero, but maybe that's a bad take. But yeah, I wouldn't say this is something I like
this specific status as far as like annual GDP growth is one that I'm like hyper dialed into
right now. But yeah, I mean, if again, it all, to me, a lot of it just comes back to this idea of
like, what, like, like are we is this all actually
going to go through like have you looked at the chart that looks like america's historic average
tariff i'm not sure if you brought that up i've seen it shows it shows just how insane of an
outlier you know this the moment we're in is if everything doesn't change uh i'll get it and send
it to you yeah if you can pull that out. That is a very interesting one.
I'm trying to find it.
So basically, I think it's just
I've got one here from Geiger Capital.
Always
an incredibly reliable source, but I think
the chart is accurate.
Overall weighted average
tariff is 29%, highest in over
100 years.
And just like to show you where we were at like it's
just like it's off it's like almost literally off the charts so yeah i mean yeah so so it's like
how do you like how do you even think about these things like what's going to happen once that
happens like it's and especially as i said is it going to happen like
are we going to come to some deals over the next six days so that it doesn't happen we're all just
working through our thoughts in the timeline i appreciate your comments earlier i think some
some folks were replying though that now crypto twitter is all tariff experts i don't know we're
all just trying to work through this in real time you gotta be i mean it's like you know you can sit around saying like doge versus shib versus fart coin versus you know versus ai xbt versus cerebro or whatever
whatever they're all called we can spend all our time freaking out over the money you can make but
if you miss these types of moves like these make those moves look irrelevant like macro is what
determines things so you to just test your luck
at trying to form opinions on this stuff.
And if you're forming opinions, post them.
Like that, I think that's like a great way
to test your opinions and to get feedback.
And to, you know, it's a,
NFT God's a pretty controversial person.
And, you know, I think I have a love,
hate relationship with this content,
but he always says this.
He's like, research something and post it.
And I think like you should be doing that about macro it's it's the most important thing for your
bet yeah i'm totally with you that's what twitter is for um so i want to talk a little bit yeah
i want to talk a little bit about like what are we buying are we buying anything
uh so i know you're a shopper right now so So we've got Bitcoin. Every time Farcoin dips 20%, I'm buying it and just sell it every time it rips.
Wow.
And just repeat until, I mean, last night I texted the chat.
I was like, Farcoin is looking good at 380 and then went to 500 million this morning.
Farcoin, man.
I think you could just like focus on a couple intraday coins and just take a break.
I ain't trying to catch runners, though.
I don't know.
That's your stuff.
It's a little wild to see Farcoin up 25% on a day where global markets are panicking.
What drives 25% moves in Farcoin?
Are there insiders buying?
What leads to these types of moves?
Is it really low supply?
These are crazy moves, and I find normally there's some sort of thing going on.
Hot air rises.
Three words.
I think the reality is there's $4 million in the liquidity pool.
I think the reality is there's $4 million in the liquidity pool.
So it doesn't take a whole lot of net net capital to,
to move these things.
And I mean,
I shared the chart.
I mean,
dip Wheeler,
like he's the meme God that he is.
He posts the whole trade just keeps going up.
Like people are,
I don't know if it's the financial nihilists out there.
Like they want to get gambling their way out is the only chance that they
see,
or just the lack of like,
there's nothing else going on in the market,
but there's one seemingly consensus meme coin out there.
And that is spark coin.
People keep buying it.
Like that,
that is my anecdotal read.
Now what's driving day toto-day 25% candles?
It's just probably a group of whales maybe playing some whale games.
But the fact that it's held this high amidst a broader market crash, I think, is a sign of optimism for the FARC coin cohort out there.
And every day it holds over 400 million i think the army gets a little bit stronger and a little bit more confident so that's that's my
take as a holder sorry i was just gonna say i think the narrative is really malleable for fart
coin as well uh you get into this space where like everybody feels like everything is complete
bullshit everything's made up.
Everything Trump's doing is just like random and off the cuff.
Uh, and you get back to like, all right, all right, well, F it.
I'm just going to buy something called fart coin.
Cause like whatever, you know, like that narrative has been attached to it to some degree for
the entire time.
Of course it started with the AI attachment and its adjacency to, um, you know, to go
and things like that. But I just think the narrative here is so is so malleable that that could be a little
strong catalyst, you know, for the foreseeable future.
There's I mean, I tweeted this out before the show.
People are playing this game.
People are playing the meme coin game right now.
There's volume.
Abstract has crazy runners.
I'm in none of them, but I'm just seeing people cook on there.
This tit coin is now up 70% on the day.
It's at $34 million.
Buttcoin up 70%.
Everyone who's listening or watching,
I'm fully conscious of how ridiculous these, these words that I'm saying are,
but this is the state of the market right now.
Tick coin is a meme coin that,
that post content that you would expect.
And the logo is a flipped logo.
it's great.
And that has been enough to,
to really rally a group behind it.
And honestly,
I would not short this thing.
I'm not a holder.
I don't hold this,
but it looks quite strong.
And then it's got downstream derivatives,
but coin,
and then now this house coin,
we're going to flip the housing market disclosure.
I do hold some of that.
It's been,
that's a good trade.
You called us that early.
He gave us,
he gave us that one,
but I don't know that this aspect of the casino is,
isn't shutting down.
I think that's the takeaway that I'm seeing.
I want to maybe talk something a little bit more serious.
We're talking about the AI sector.
Price action.
I mean, ARK has gotten obliterated.
ARK is now $37 million.
So price action has been bad.
But we had a really insightful conversation with the Wayfinder team yesterday.
With Kalos and Adrian.
And they talked us through their agents.
And I think there was a very strong and loud cohort of people on crypto Twitter who said this whole crypto AI meta is total vaporware.
And slot bots.
And a lot of that,
like in a lot of it was,
this is not vaporware.
Okay.
If you look at these demos,
if you start interacting with their agents,
Midas autonomous and Vulcan,
like Andy 8052 has been demonstrating like what you can do.
You can effectively vibe code,
whatever crypto application you want.
You are limited by your ideas.
And their tools will help you create all the code for that.
Minus is their version of your AI trading copilot.
So no longer do you have to be the one who clicks the buttons to say,
I want to bridge 10 Solana over to ETH and swap it to USDC.
Now you can use natural language and tell their AI just to do that.
That feels to me like the type of thing that once it gets enough trust, enough people behind
it could actually be a game changer.
But Logan, I know you've been following Parallel for a while.
I'm curious for your reactions to that conversation yesterday.
Yeah.
So as a disclosure, I'm a prime casher.
So I have put some money behind my conviction here and what they shared yesterday.
I encourage everybody to go listen to the conversation.
I don't want to try to repeat too much of what they said because I'm not going to say
not going to say anywhere near as well, but it's exactly what you were alluding to, Tyler. It does
anywhere near as well.
But it's exactly what you were alluding to, Tyler.
feel like a level or two above a lot of the things that we saw during that AI bubble, which they
called social agents, which I think most of us called AI slot bot reply guys. You can actually
vibe code or vibe interact your way through crypto. And it may not seem that appealing to those of us who are, you know,
active and have the technical acumen to make those types of trades, right? Like swapping
Solana for USDC isn't difficult for us at this point in time. But when you think about onboarding
more people to crypto, and the technical barriers to doing so something like this is potentially
very, very impactful. Because one of the reasons
that maybe more folks haven't participated alongside us is that it is difficult to do.
And there are a lot of like crazy little nuances that you need to know in order to go from chain
to chain to chain. So I'm really excited about that as a another disclosure. Like I've used
Midas, I had it find me the best yield for USDC and just went ahead and, you know, it's like two or three messages.
This was early. I got early access because of, you know, prime caching maybe a month ago or so.
But it's just it's pretty incredible.
And they tell it to do do things for you. And it's it's going to do it.
I mean, that's the type of world we want to be able to live in.
And we're sort of seeing it play out and be manifested via this.
And as you noted, yeah, you're only limited by ideas.
I think a lot of people have had really awesome ideas in crypto.
It's difficult to implement them, you know, oftentimes.
Hopefully this helps us get more of those across the finish line.
So, Logan, tell me specifically, what did you do?
Like you just typed into a chat GPT interface, you said, find me to like, what specifically did you do?
Yeah. So I had access to the transaction agent. Again, I believe his name's Midas or whatever
else they've codenamed it. You go in, it's very similar to a chat GPT interface or any typical
chat messaging app interface. And I knew, you I knew what my balances were and everything.
And I just asked it to find me the best yield for my USDC.
It came back with the responses of here's via Aave,
this is whatever the percentage was.
And then I asked it to go ahead and activate that more or less,
like put my USDC to work
in one of those pools says, okay, you confirm the transaction like you would any other crypto
transaction, which is something Kalos was saying yesterday to the trust point. You know, like,
how do you trust this? Well, in that instance, it's very similar to completing a transaction
in any other way, completed it, and it's still staking. So yeah, it's on a wallet that I don't have access to at this point in time
to pull up or share with you, unfortunately.
But it was maybe three minutes of some back and forth,
like finding the rates for me, me deciding which one I'd want to take advantage of,
then telling it, and then go ahead and making the move for me.
That's pretty awesome.
What I pulled from it too is that the way it works, I'll admit here I have not used it and I need to,
is it basically like you asked it to do something and it shows you the step simulations so you can see specifically what it's going to do.
And then if you like that, you can click the approve button.
So that's how you can kind of build some level of trust.
I feel like this is big.
I've been in conversations with Sam and he's asking like,
okay,
what's the best bridge from chain A to chain B?
Well,
now like if you ask a question about that,
like in a more real world topic,
I can say,
well,
let me chat GBT that for you.
Now you can say,
let me,
let me Midas that for you.
Or soon you just go directly to Midas.
And then you ask it these questions.
And then maybe early on,
you fact check it with your Sharp buddies
to see, is this actually right?
But then once it is right,
three times, five times, 10 times,
then you start using it for more things.
So I think it's a big deal.
It's going to be a fun one to follow.
And folks, if you're not following, their TGE is sometime in the next two weeks, maybe even one week. They said first couple of weeks of April. So that's going to be a big one to watch. Let's
talk about Pox a little bit. We've got 10 minutes left in the show. I guess quick for those who are
interested in the roll bit, spins later on
the show here in just a few minutes.
Stocks is the code.
Stocks is today's code.
We will be doing those spins
here in just a few minutes.
Punk floor, holding up
okay. 41.6
ETH.
This one just sold.
You're up in ETH. We're down a bit in the punk Bitcoin spread. We ETH. This one just sold. You're up in ETH.
We're down a bit in the punk Bitcoin spread.
But you're up in ETH now.
We're up 6%.
We're down 6% rather.
A couple of nice sales.
We saw this nice 3D.
Ladies sell for 69.69.
That was a nice one to see.
But then this is the one that jumps out to me.
CryptoPunk3992.
That slick gold chain.
Has only been...
You're muted. You're muted.
It's only been sold one time.
Don't you see me in this box?
It's like you're spitting out.
Gold chain. This is me.
When Mohawk.
When Mohawk.
Mohawk.
I think my balling, I may be just a Mohawk. When Mohawk. Mohawk. I don't know. I think I'm like my balling.
I may be just a Mohawk.
That middle still doesn't.
If this was a 2021 bull run, this would be digital blackface.
We can cancel for it.
Dude, that is a sick punk.
I didn't realize you bought that until I saw your PFP on Telegram.
Yeah.
Yeah.
I like this punk.
And, you know, I think I've got a white skinned male.
I got a white skinned female.
I was like, well, let's mix it up.
Get some cultural diversity in my punk collection.
I'm a fan.
That's quite the collection.
Three punks now.
I know.
They're all down bad.
So I'm like, you know, like i actually got into crypto because of punks like
i think everyone's got their crypto asset that they feel the most connection to and for me it's
punks and normally i want to sell my punks i'm like why am i in this illiquid stuff but then
a week ago i was kind of like oh i kind of like that punk and it looks kind of like jay-z and
it's a good compliment to my collection. Then you just spend a week being like, am I going to buy this?
And then one morning you just push confirm.
You're like, what the fuck did I just do?
Y'all know the feeling.
Yes.
I love that.
I want it more as a collector than like as a collector.
I'd say if I had to like tie it to some macro trend going on out there,
I'd say I think that like my ETH is kind of pretty idle.
And my crypto bag, I keep in crypto.
And my Bitcoin is bigger than my ETH.
I have this ETH sitting there.
I feel like it's going down every day.
And I was like, you know what?
Fuck it.
Let's just put it into a punk that I should like.
So I would not say that I would read this as a smart money move.
It was just like more of a collector.
I kind of like that punk.
It would be a nice addition to my collection.
And once you decide you might want to buy one,
you can convince yourself of all sorts of reasons to buy it.
Among the reasons I convinced myself, I have three kids.
Now I need three punks, one for each of them.
Just stupid kids.
Absolutely.
It will get passed on.
You know, you don't, what is it?
You pass on next generation, you know?
That's it.
Yeah, exactly.
I can't just give each of my, two of my kids a punk.
You never actually own a punk.
You merely look after it for the next generation.
Exactly.
The second.
Yeah.
Like Cyrus pinged me that.
He's like, hey, why did you buy a punk?
I was like, because I'm an idiot. Like, again, I love punks. Also, pinged me though. He's like, he's like, Hey, why, why'd you buy a punk? I was like, cause I'm an idiot. Like I, like,
again, I love punks. Also, I will say this.
My only two punks are punk nine Oh five nine, which is my,
which is my handle and my PFP. So it,
like I feel like I can never ever trade those. Sure.
If we get a rally, maybe I can, this one is a bit more kind of transferable,
but I'm starting to like it. Yeah. Well,
I certainly understand that I'm showing Jay-Z's Twitter page
because I think there's some folks
who have joined the space since 2021
who may not know.
Dude.
Mr. Carter.
It literally is like the Jay-Z punk.
It's basically your cousin here.
There used to be rumors about those chain punks.
There was rumors about those chain punks 2021
how Jay-Z would throw special events for chain punks. There was rumors about those chain punks 2021, how Jay-Z
would throw special events for chain punks
and then you could go and then
the chain punks ripped
for the highest time, had the most insane floor,
like hoodie punks. It was only 169.
If you believe that,
I got a moonbird to sell you.
I never believed that. That's why I don't own one.
Oh, today I
learned the women gold chain is horizontal in that diagonal.
Wow.
Yes, sir.
Same with silver.
It's not a good trade.
I really don't like those choker look.
It's terrible.
The hidden gold chain is my favorite.
This is a sick one.
Yeah, the hidden gold chain is gangster as fuck.
It's crazy the idea that that single pixel adds
like 10 grand to the place
probably more
30 to 40 grand more I just like to keep it muted
I just need these punks to go a little
lower like I want more but I don't like
the floor as much
so I don't know
they're only nice though
you said you bought it as a collectible but do you have a take on punks versus bitcoin
over the next 6 months, nine months?
I really like punks, man.
I like punks and I like Bitcoin.
I like both of them.
I think I always say crypto assets are like wine.
You want to own the old stuff.
The stuff that's surviving the test of time, I think, is the best stuff to own.
But yeah, ETH is very fragile right now.
Punks are denominated in ETH.
So it is hard to want to dump too much into it.
I'd say if I didn't have ETH in a wallet and it was like use another currency to buy, I'm not even sure I would have.
I was just sick of having this wallet with ETH doing nothing. So I was like, alright, I'll just
buy a pump with it. Yeah, ETH sort of goes
no use. I have a question because I'm
with Danny and today he asked me, he was like,
if ETH goes to zero,
the pumps go to zero.
I'll buy a ton of them.
At zero?
I'll buy a ton of zero.
Because we didn't get to claim them.
I'll buy a ton with ETH at 100. If ETH goes to 100, I'll just buy a ton of pumps. So what's't get to claim them. I'll buy a ton of zero. You get 100.
If you go to 100, I'll just buy a ton of punks.
So what's up with the punk claimer, Wilcox, legend?
I mean, legendary criminal now, I guess.
Or not.
But there's this punk claimer, Wilcox,
who's like a legend in the streets of CryptoPunks.
And he came, what, $10 million short of his tax bill?
And now he's got the IRS on his ass?
So this Wilcox guy is a top 10 holder of punks.
He still has 100 of them.
Do we think?
So is the IRS about to seize punks?
And does that mean that punks will be in the reserve?
I don't think so.
I don't think they would take the punks.
Punks feel like a very unattractive asset for a government town.
So what's the story here?
What's the story?
Did you guys read that?
My guess is he claimed tons of punks.
He sold a lot.
He's a legendary pun collector.
Yeah.
He claimed tons.
He sold them over time.
And my guess is he didn't declare taxes.
And it was public enough that he got caught.
And this is wild. So this is alleged. but this is from folks the irs website so this is beyond just like a news story yeah i'm
not making this shit up like this is like so underreported his income from 2021 by eight and
a half million and then again the next year by 4.6 million.
So he underreported by 13 million.
That's a big number, folks.
That's just a small decimal, right?
I mean, basically what happened is he claimed these punks
and he sold them over time and he didn't tell the IRS.
Was there an article on this?
Why is the IRS writing about $10 million article?
Probably because they want to send a message to NFT elders that they're watching.
Yeah, bro, for sure.
That's a good point.
They say it, right?
It's committed to unraveling complex financial schemes involving virtual currencies and non-fungible tokens, right?
And this could – I could even see the more – Trump is making crypto political to a degree too, right?
Trump is making crypto political to a degree too.
So I can actually see a part of this becoming a little bit more of a political attack too from those that are still there.
My guess is this is more legacy Biden though.
I don't think this –
It's been underway.
It didn't start.
This has been a long process.
You don't just suddenly realize someone's –
suddenly realized someone sold it.
Yeah.
Yeah.
I don't know enough about tax evasion
to know how frequent $15 million of unreported income is.
But maybe it's not that frequent,
and when they get someone, they post it.
Yeah, that's a big number.
Pay your taxes, folks.
I think the big question, though, like what is going to happen to his
punks is he going to be forced to sell these is he not going to be able to sell because he's going
to be in jail for for three years i i have no idea like if these types of offenses typically
come with jail time or if you get you typically like negotiate negotiate it down i would think
you they would rather have him just pay a big fee.
But this is way outside my comfort zone.
And hopefully will remain outside my comfort zone for as long as I shall live.
Indeed.
Indeed.
Well, that takes us to the most more topics.
Sam, I wanted to just check in.
Meanland, anything to report on?
What's cooking over there?
I mean, Meanland bought a public company.
So, you know, 2440.hk, pull it up.
Yeah, what's up with that?
Finance.yahoo.com.
I mean, this is something that Ray wanted to do.
You know, he bought the public company.
And before even doing anything,
the company pumped to a $100 million US dollar valuation just for basically the Shell company.
And, you know, I think he has all sorts of ideas for the
stuff he wants to do with the company. But I think that that is one of the more interesting
things. Clearly, it was influenced by micro strategy. And I think the original idea,
because this is something he's been cooking on for like a year. The original idea was for this to be like a micro strategy,
but for meme coins.
And it could also be a long-term steward for meme coins.
Like you go and you know that this company is going to hold meme coins,
but not sell them.
So like perhaps this would be a great place to park supply for coins
because it's a long-term holder
and a way for public markets to get access to meme coins.
That was one of the ideas.
Obviously, we're not in as meme coin conducive of an environment right now as we were six months ago when this was all cooking on the idea.
But there are all sorts of other kind of plans for what to do with this.
To me, the most important thing with everything kind of meme land related is that meme coin ends up being the primary stakeholder and the beneficiary.
So that's a little bit of a tightrope, but certainly something that we're focused on.
There are a couple other products that we're cooking that I think could be interesting where I think there might be a real product use case, but they're still not out there in the wild.
They were discussed probably a few months out before I think you start to see those.
I'm spending a little bit of time kind of working on some products that we
haven't really discussed publicly.
I'm a big fan of not discussing some of these things publicly.
The minute you start talking about it,
it becomes a little bit harder to kind of get your day-to-day through.
So yeah.
We have MemePay,
which was a credit card product that I think has done some interesting things, but that's become a bit of a crowded space.
But between MemeStrategy, MemePay, and a couple other products we're working on, the bunny marches on, man.
We love to hear it. This is exciting stuff.
Sam, I want to thank you for joining us.
It's been an incredible conversation.
We are going to get into our Robitspins, so feel free to stick around.
Sam, if you're ready, I might actually have to step away just for a quick second while we get that ready.
I got to go open my door.
I'll be right back as we get this ready.
Folks, the code last second.
It is STOXX.
STOXX, baby.
Let's go.
I'll run it up
Stocks STO
Cks a nice little loot box ready for your asses. See if someone wins punk I got a nice cringy hair pumpkin in there for you guys. All right, Sam's let's let's pull it up
Maybe let's put up stocks with the code. Let's see who gets it Wow, let's go No way. Sneaker did.
Wow.
Let's go.
This is my Chicagoland homie.
We have the same hairdresser.
Folks may not know this about us. Let's go.
I see him.
All right.
I see him.
Okay.
Let's fucking go, baby.
Oh, my goodness.
Sneaker Dad.
Let me share my screen.
My man.
We met back at a collector's dinner at NFT NYC back in 2022.
Hell, yeah.
Had chatted and been friends online ever since.
Sneaker Dad GM, how you doing my friend
you want oh dude happy fucking friday it's been a great week uh just started working with spencer
ventures this week on his yes nice congrats it's huge it's been a great fucking week and oh by the
way tyler i don't know if you mentioned this because i was on i was, but we also have the same hairstylist,
or hairdresser. You sure do.
Shout out to Molly.
Shout out to fucking Molly.
Wait, you guys have the same hairdresser?
Yeah.
That's so funny.
We didn't even know it.
She knew that I was into NFTs and stuff.
She's like, oh, I have this really long-term client.
He's been with me for 10 plus years.
His name is Tyler, and I was like no way
it's like I know that guy so anyways I digress let's fucking get it did you did you tell did
you tell Molly that Tyler is a micro niche celebrity oh yeah like the last one of the last
few times I was like hey I don't know if you know this, but like Tyler's blown up. I was like, he's kind of a big deal now.
Not that he wasn't before, but like he's kind of a big deal.
You got to tip more now.
I think she ups my rates.
Dude, yeah, she's not my rate too, but you know, she's worth it.
Let's give this man a crypto pump.
Yeah, let's get a pump for Sneaker Dad.
Can you guys see my screen?
Because I'm on.
Yeah, we can see it.
All right. You ready? Let's do it. Yeah, we can see it. All right.
You ready?
Let's do it.
Come on, Sneaker Dad.
Let's win a puck.
Penguin, penguin, penguin.
Come on, go on.
Come on, go on.
Yes.
Let's go.
Punching penguin, baby.
My man.
Let's go.
Let's go.
$20,000 win today, my friend. Let's fucking go. Boom. How about that? Boom. I love you guys. Let's go $20,000 win today My friend
How about that
I love you guys
Let's go
Love to see our long time listeners and friends win
Oh my god
What a fucking day
Holy shit I love you guys
Thank you so much
Yeah you guys are killing it
Rug Radio Dastin, Decrypt, Myriad.
Love you guys.
Thank you so much.
Awesome, my man.
We'll connect with you after the show.
Thanks, guys.
Everyone, that's going to be it.
That is our show.
What a way to end the week.
We will be back on Monday.
Until then, go make it a beautiful day.
Goodbye.
Peace out.
