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FOMO HOUR: Trump Tariff’s Pause Rally, Solana’s Big Week & Alt Szn?
Recorded: May 23, 2025 Duration: 0:55:39Space Recording
Short Summary
In today's crypto discussion, excitement builds as Bitcoin and altcoins show strong performance, with Solana's growth at the forefront. Major developments include LaunchCoin's strategic pivots, Hyperliquid's market cap surge, and WorldCoin's impressive gains, signaling a potential alt season ahead.
Full Transcription
Thank you. GM, GM,
everyone.
Thanks for joining us here this morning.
We're going to start the show in just a minute.
We're getting our speakers up on stage trying to fix our echo here.
We have,
that was me.
That was me.
Shout out to DJ and Ty,
the yeet 10 K winner hitting that $100 million.
What a guy,
what a grinder.
Good day for DJ and Ty.
Shout out to some other people.
Who we got?
Ghost, T, McNutt, the homies, GM, GM, Kim, Camelia, Smith, Connor, GM.
Thanks for joining us.
Who else?
We got Trey Plotsky, Steve, A-Wolf, GM, GM.
All right.
I've got Farouk up here.
We've got the FOMO Hour account up here as well.
Where are you?
Sims, whenever you're ready.
New York.
Let's kick it. Thank you. so
good morning good morning everyone gm gm and welcome to another episode of fomo out today Wow. Today, today is Friday. Mark coin Friday. Friday, May 23rd, 2025. Folks, it was shaping up to be a glorious morning.
Wake up, Bitcoin's humming along, alts are soaring on the day, our memes are green, and Trump wakes up on the wrong side of the bed.
Announces new tariffs on the EU. Markets tumble, but we're already rebounding.
And the question is, are we in for a green weekend?
We're going to break it all down on today's show.
We've got Farouk and Mando back with us.
Boys, GM, how you doing?
Good morning.
How you guys doing?
Happy Far Coin Friday.
I'm fucking good, man.
My bags are up a lot.
Farouk. Well rested.
He was watching Rocky 3 last night and watching the Farcone 1 second chart.
I couldn't sleep.
I was in bed at 10.30 p.m.
And I slept at like 1.
Because I was watching Rocky 3, Rocky 4, and the Farcone chart.
That's a fun day.
That's a fun day.
Yeah.
I was at all these side events and I was like
I'll just watch the Farcoin chart
Farcoin suddenly feels strong doesn't it?
Suddenly?
Suddenly?
Well I feel like it
It hasn't had like a
Outperformance period for a while
It's just kind of like kept up
And now it feels like it's the strongest meme
Out there suddenly.
But to your point.
Some other memes are moving much more than Farccoin.
And then suddenly now it feels like, okay, this is the one to own.
It's still getting outperformed.
That's the thing.
It's not even like Pepe and Bonk both moved more.
Sunday.
There's room to go higher faster.
And maybe we'll get it today on Fartcoin Friday.
Folks, we've got a big show in store for you.
We're going to start with the market report.
This quick Bitcoin dip is already gone.
There's a lot of calls for alt season on the timeline.
Are they out of pocket or is it for real this time?
We're going to talk a bit about Solana's big week at Solana Accelerate.
The hyperliquid FOMO is ratcheting up as it hits a new all-time high.
We've got major banks looking to enter the stablecoin game.
The CFTC teasing legal perp futures, cracking off some tokenized stocks.
Solana Mobile, we talked about that yesterday.
LaunchCoin continues to pivot.
Three pivots yesterday.
I think they might have set a new founder record for a amount of notable pivots in a day. And runes are green. Pups are going up again, folks, after this latest crack
in integration. So we'll talk about all that and more. Before we dig in, we got to give a shout
out to our partner, Wallet Connect. Wallet Connect is the connectivity network shaping the future of
on-chain UX. If you've connected to a Web3 app, you've seen Wallet Connect, that blue logo. It's
everywhere. An icon of trust in crypto, as recognizable as Visa at the checkout. If you'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.
We love our partners as always.
Mando, if you're ready, let's get into it.
Let's get into it.
Who is the man, macro daddy of the land? Let's get into it.
So volatile, I would say.
Today, we were all the way up, just north of 111k.
And then it felt a little bit soggy in certain spots, let's say,
although like Parkcoin was strong and a few other things.
It was feeling as though maybe stuff had had like a mini top just before that news headline came out.
Funding had gone high on a number of different coins,
and then Trump basically came out today and said,
EU is going to get it.
It's going to get 50% to 60% tariffs or something like that,
or I guess 60% if you include the existing 10%.
And, you know, I did say that I think the EU would be a tough negotiator.
I, you know, we've seen this playbook before, you know,
it feels like everyone wants to buy a tariff related dip but on a broader macro level there is a lot of like worry at the moment just because
bond yields just keep going particularly in Japan and that continues to like make people very fearful about some sort of
major global blow-up essentially so maybe tariffs plus that was not going to be
the greatest day for stocks at least in terms of crypto I thought we had a very strong day in
terms of headlines again yesterday we obviously had a very strong day in terms of headlines again yesterday.
We obviously had the tokenization headline out of Kraken, which I think was strong. You had a story out that major U.S. banks are going to be considering a stablecoin.
This is to be vastly expected.
I thought they'd all do separate ones, but they've decided to potentially join together.
decided to potentially join together.
And you could tell that would get some sort of favorable treatment in the US
if they did that.
This would be TradFi getting into crypto for sure through this.
Away from that, you had strategy saying they're going to buy some more Bitcoin.
You had the CFTC coming out and saying, we spoke about hype yesterday,
but they came out and said, look, we might get perps in the US soon, which was a good sign.
I don't know if there'll be decentralized perps. They may be very regulated on centralized
exchanges, which I think is maybe something to pay attention to. But it was a good sign.
Definitely a good sign to see.
And Hyperliquid has been the best performer, again,
out of L1s on the back of that as a headline,
hit an all-time high of 37.
So 37 billion.
Definitely, I think it flipped Doge, I think.
I don't know if it's flipped.
It's getting close to, must be getting close to Sui now in terms of market cap, or is it overtaking SUI in terms of, I guess you can't see the.
It's right there.
Yeah.
Oh, wow.
It's in 1 billion.
Holy shit.
Hyperliquid is a top 10 coin.
Yeah, it's coming.
Wow.
So big move in Hyperliquid, obviously still racking up a ton of fees at the moment.
It's been a very popular trade, I think, throughout the timeline.
Interestingly, I saw a headline today, which is the Bitcoin long-short ratio is at a three-year low.
It's at lows from September 2022.
too. What does that mean?
What does that mean?
Well,
I think that tells you
that could be indicated that
people aren't as long as you would expect
them to be.
But I think it would also
tell you that there's a lot of
basis trades.
Huge amount of basis trades because of that.
So some people are like, oh, we're going to see a short squeeze.
The market's not even long. I don't know
if it's that, but it is really surprising to see Bitcoin at an all-time high
and the long short ratio to be at a three-year low.
So I saw that and I was like, wow, we've got a lot higher if that's the case.
But then so much of this data is being affected by the basis trade.
We had a massive inflow into the Bitcoin ETF yesterday,
one of the biggest in months.
And you just don't know.
I think a lot of that is the basis trade.
So the long-shot ratio is probably low because of that
and people buying the ETF. So it's really difficult to judge on these sort of things, but it's certainly not
bearish. It's just how bullish is it really? I would say. Could you just take a second and
explain that? So basically money is coming into the Bitcoin ETFs in spot and then in a
perp sort of a f first product, they're,
they're going short the same amount to have to capture the spread.
Yeah.
Spread is one way to look at it or capture the yield.
Like actually,
if you've ever gone long on futures,
you might realize that like you have to pay some money every four hours and
that money is paid from the longs normally to the shorts.
And at certain times when
the market everyone you know thinks we're going to break from an all-time high the amount of money
you have to pay to be long which james win knows can be can be pretty high so what they do is they
buy the spot bitcoin etf and they short the futures which means they're getting paid. They're getting paid from James Wynn, essentially. And they capture a risk-free income stream there
because they own the spot and whatever happens,
they've basically got the same position,
but they're just taking in an income stream.
So it's popular whenever it gets above like 5%.
And you can now do it with
eth and with bitcoin mainly so that's why for the last since the bitcoin etfs became large we
haven't really seen funding rates spike at any time they've remained relatively low because this
money money comes in to do this trade but what you do see is that whenever it feels a bit frothy which it has
done the last couple of weeks let's say and funding starts to go high you actually see
very big inflows into the bitcoin etf and people might read that as oh everyone's going along the
top but actually people might be putting on we would call them a delta neutral trade it's like
it doesn't really mean anything what they're doing.
That makes sense.
And I'm one who loves to race to cheerlead and celebrate the ETF and flow numbers,
but it feels more and more like it is that basis trade.
It would be nice if we had access to see the specifics on that.
But what is notable, it looks like we just lost Mando.
What is undeniable is that
the bid was on the US
market open.
We should go on to Hyperliquid
just to give an example
for people here a little bit.
It might be useful because
if you're really
DGN, you don't have to do this with Bitcoin.
So if you go on to Hype
or go on to...pe, or go on
to...
Hype's not a bad one. Sort them by funding
rate, maybe. Can you sort them by funding
rate?
On perps?
On perps, yeah. Sort them by funding rate.
I bet the other way.
Yeah.
So, Fartcoin, for example.
If you hover over the eight hour funding for
fartcoin it might tell you what that is annualized sometimes they do
um but you could effectively go long fartcoin spot and short fartcoin futures here
and earn 0.08% every eight hours.
So what's that every day?
Let's say that's 0.25.
This is why Farcoin is doing the most absurd perps volume.
Have you seen the perps volume on Farcoin on CoinMarketCap?
Right.
So you can earn 0.25% a day doing that.
That is an annualized yield of 91% APR.
It was much higher on an APY basis.
So that is a risk-free trade.
Like for Rogue, you own SparkCoin Spot right now.
You could just sail off into the sunset and be like,
look, I'm just going to short SparkCoin perks for the next month.
And if this goes on for another month i will earn what is that a month
but to be fair this works this works mostly on the chopping period no
this works mostly on a frothy period so this work the market suddenly goes to all-time highs and um people are willing to just be long fart coin perps
um at any any sort of funding you know because they think it's going to go so much higher
so like i said you could you can actually just chill if you wanted to right now and just be
look i just want to earn 10 a month now for the next month assuming that but but obviously this is dynamic fartcoin fartcoin funding is not always that high and it may go all the way down to like
any any one moment but right now if that was to say as elevated for the rest uh for the rest of
the year then you would earn like 100 doing that you'd like but that's why that's why farco enjoy
so much volume like if you look on coin market cap farco and perps on finance have done 600 million 24 hours 500 million by bit
500 million some like all these little like scummy and weird exchanges as well
and then you have hyper liquid like it's doing like billions of dollars of perp volume
but yeah 100 but you're giving up your upside so if he did that and part coin ripped to two dollars
he would be yes miss that of course right of course but you could do a bit you could hedge
like 50 right now right and be like so instead of selling fart coin you you could just short
fart coin and actually that can be a better trade or don't realize don't realize capital gains and you capture the funding well this is
what the market makers do right i speak to them all the time like this is like they all do that
like i have a homie that does is that one of the top wallets on hyper liquid like we're talking
like a ridiculous amount of like really really really really ridiculous amount of volume and
that's all they do yeah i mean it's the things
to manage it so i said you know you're going to get 100 well actually that depends on how much
capital you put up right yeah so like if you did like a 10x or 5x short right you're actually going
to put up some capital to do that so that eats into your return over both pools of capital and
then you have to worry about liquidation risk so like if fartcoin got a spot listing at finance
tomorrow like you're probably going to get liquidated and then that's like that that can
be really bad because perps often have big wicks so it's something that you do have to like manage
but there are this is this
is a very common trade this is this is what athena is doing on bitcoin and eith but you could do it
on farcone yourself right now and you know i don't think it's the worst idea that if like
farcone hits two dollars to like put on this trade right and then you can just chill for the summer for oak um and uh not really have to worry about
that much so um yeah well farco is going to ten dollars this summer and i won't have to worry
about that either on a yacht in ibiza so you know you'd be giving up a lot of upside my friend to
to get you know safer play i mean one of the clear winners of what you're talking about is people who are running the strategy on chain yeah they're doing it on
hyper liquid i wonder if james win like even that big you call them what i was watching the clip
big game big game james big game james oh my that clip of you and mando is so funny from yesterday
i i would say i started laughing but big game james i was talking some obviously it was topic
conversations at dinner here, right?
Because it's like the biggest position in crypto.
And a lot of people are saying that he's just probably like hedging.
Like he's just doing this in public, but there's, you know,
he's probably doing what Mandel's saying somewhere else.
Or not.
I think he's just like the most degenerate human being we've ever seen.
But Big could just,
you could do this on hyper liquid dish yourself right now, because you can trade.
Yeah.
A lot of people do it with small size too.
Like I think stats was talking about it at some point,
right?
Like you don't need like a ton of money to do what man was saying.
It's great advertisement for hyper liquid.
It's amazing.
I mean,
that's why it's top 10.
Hyperliquid's raking in the fees right now.
I think I saw it.
They made three and a half million in the last 24 hours,
which they're,
they're piling back into buybacks of their token.
And now,
I mean,
look at the TVL TVL is just soaring.
Now it's up. What was it? 400 million. Look at the TVL. TVL is just soaring now.
It's up, what was it?
Is it 400 million on the April bottom?
350 million?
Now it's up 5X.
I mean, it's basically up as much as the hype token is up.
I mean, these charts mirror each other,
but it feels like it's different this time.
And what I mean by that is FOMO is kicking in.
The group chats, people are trying to figure out
how do we bridge the hype?
What's the hyper EVM play?
Should we buy these NFTs over there?
Should we buy the hype memes over there
ahead of a potential hype EBM
season?
Which is the next leg
of this potential trade.
So far, it's been
making this run
just based on its
perps product
and the fees they generate.
And the EBM
hype EBM has basically been at zero.
That's a big feature unlock.
I think that's got to be a part of the bull case.
And I mean,
the price action is enough marketing on its own up 4X now off the April 7th
bottom.
One of the single fastest horses in crypto right now.
I think this kind of leads back to one of our talking points today
is alt season for reals this time.
Growing chatter.
It was widely mocked.
It's been widely mocked for what feels like two years.
We've got folks like Bluntz
calling for it.
I guess Mando's saying ETH running
to 4K, that would be an alt season.
Any kind of an ETH run
would certainly be a part of that.
I think we're all on board
with the idea this could be
a little bit of a move here.
But I would just be wary of
thinking it will last for that
long. Alt seasons, people
are like, oh, everything's going to run to all-time high.
Everything.
You know?
I don't think that's going to happen. And I think we said
yesterday, four weeks is kind of how long they
often last. So
I think you could see that. Bitcoin dominance is still
at 64%. So it's not like he's sitting there and like,
it's not like an unbelievable altcoin season.
But do I think that we could have strength in alts for four weeks?
Yeah.
Yeah, for sure.
This chart still looks pretty damn strong.
So, I mean, you got to be aggressive.
Like, you got to be really thinking this is going to shift significantly
to be like really pounding the table right now.
I'm not talking about you, man. I'm just talking about others who are just like kind of screaming
alt season now on the timeline but farroke i feel like you're kind of positioned for alt season
like what would have been yesterday like mando asked me about my book a little bit i kind of
went into it like what what have you been trading building lately i have the best portfolio in crypto, bro. Yeah.
I have a lot of my liquid net worth in Farcoin, but that's been very public position for a while.
I have not touched it.
Actually, I've only bought more.
So I'm not touching.
I'm not selling and I'm not adding either.
I'm just going to wait.
I'm convinced we go to $5 at least.
So I'll just wait for that.
That's my osf with trade
you know i mean uh
it's going well so far and then i
Moved a lot of my sonic position a lot of it
uh to pepe and mog
Um a couple nights ago so before this other leg up so i'm eating on that as well because even on this downtrend it held better than alts and i never touched my rec position so i'm still top
25 holders rect so that's going very well for your boy um and that's it what a month for just
quick shout to rect 120 million fdb yeah it hit it stopped at all-time high yesterday
it literally stopped there it was it was about to break the ath at 125 and stopped and um so
so that's it i'm i'm i my my levered btc soul is fartcoin because i think fartcoin is kind of like
a leverage on like bitcoin itself which is crazy to say, and Solana.
And then on Ethereum, Pepe and Mog Rekt has proven to be the three winners,
and Rekt has been the leader.
And then Pepe and Mog have similar setups.
But I think Pepe is ready for big leg up, and I agree with Mando that Ethereum had quite a big run, and I think that run is going to keep –
it's got to go back to 4K, right?
So if ETH goes back to 4K, Pepe breaks all-time high.
Pepe to me is still
like i think i've been saying it for since 2023 like mandovi and i when we were early on pepe
we've been saying this but like i genuinely think pepe is a top 20 token and the cycle's not over so
my belief says it's changed so i think if i can write that i'm happy with that yeah
yeah and like a lot of them look good.
Bonk and Pepe have the same setup.
Pepe, ETH, and Mog have the exact same structure right now.
It's the exact same. The charge is the same.
Mog moves actually
a little more than Pepe did the other day after I bought,
which was nice, but...
I'm looking at Mog
right now.
It's going to make
a wreck move.
I think wreck.
That's the one that looks like it could move.
Right.
Yeah.
So all time,
how is four?
So the all know the all time high for Mog is $1.5 billion.
That was literally the day of the day of the party.
Yeah.
At the party.
Electric.
That was the people top.
Yeah.
The day after Coinbase.
And so to me, a coin with so much strength
And look you guys know how much I love
Mogg that's like my family right
And it's just like I just
It's just so obvious to me
It's like Rekt it's like so obvious
It's not like they left
Like K-Money is like one of the greatest shillers of this fucking cycle
Undeniable
So You know while Rekt are one of the greatest shillers of this fucking cycle. Undeniable.
While Rekt is running with Brandcoin narrative,
Mog is the culture coin.
The culture coin. And Pepe is just the king
of the cycle.
Pepe is the undeniable
king of the cycle.
It's such a nice, clean setup
on ETH.
If you think ETH is going to move, and the betas are going to move faster,
it's like Pepe Margrethe is just like so.
They're standing out.
But the other one, I have to, but we got to give the shout out.
SPX is in the conversation.
Right, exactly.
So I know I'm Pepe Margrethe, but SPX is another one, right?
This is doing really well.
It's just like I don't know.
950.
Yeah.
What,
what do you think of this,
of this Robin hood listing yesterday for mooding and mute?
Are we about to see a bit of a listing cycle here?
That's a lot.
That's what came to my mind.
And then the obvious coins there are,
are thought coin.
You could argue mug.
I don't like Mog is on Coinbase
and on Binance
it doesn't even have Binance spot yet by the way
it was listed on Alpha, don't forget that
Mog got listed on Alpha Binance a few weeks ago
don't sleep on that
I just assumed it was already on Binance
no it's on Alpha
keep that in mind
that Mog moved to highs.
And once that break the highs,
like I think Rekt is going to destroy its highs.
Right.
If you look at the mock chart and the Rekt chart,
I think Mock's going to pull what Rekt did.
But like on that type Mando,
I'm not going to call insider here,
but that move,
they move up.
And then all of a sudden you get a fucking,
you know,
news on Robinhood.
That's a,
that's a classic,
but Hey,
we like those.
I think, who do you guys think like Farcoin is, is, You know news on Robin Hood. That's a that's a classic but hey we like those. Um
I think who do you guys think like Farcoin is is I think Farcoin is the best product for the West
for like a Western listing I mean like I
Don't know
Obviously super bike buys
I saw that I was like right is this what we kind of saw in November a little bit where suddenly we're going to start to see a few of them?
Do they think that's enough?
Fartcoin seems like an obvious one here with what we just said.
Like if I was Binance right now, I'd recognize that Fartcoin is driving a lot of the interest right now in Hyperliquid and be like, right, let's list this.
let's list this.
And then for
the other coins,
it just feels like
the time, doesn't it?
Feels like the time to maybe push some of these.
I look at Moodang and even
go like, this thing can
That's a pretty attractive
Robinhood. It hasn't
got Binance yet. It hasn't got Bybit.
It's a couple of. It hasn't got Binance yet. It hasn't got Bybit. It's a cup and handle.
Can we talk about for a second
that two weeks ago,
Mudang pumped out of nowhere
and did a 7X.
And now it's on Robinhood's spot
two weeks later.
Are these things correlated in any way?
Went to mute candles.
Went to mute candles. Went to mute candles.
Literally.
I looked at it and I was like, that's...
Yeah, I don't know.
Can they call me next time?
I'm interested right now.
What's the all-time high on Mudang?
What's the all-time high?
Shout out to Kook.
I think Kook cooked on that.
And I don't know if Rasmur still has his Mudang position,
but these two guys, they are like obsessed with Mudang.
Oh, Rasmur sold it for sure.
Anyone who held through this period though,
like if you held through that.
Mental illness.
You deserve the win.
God bless.
Yeah, I think like, you know, like you have like all these,
like yesterday I was looking to add some on the salon side
Like I was looking at some pop cat because that's a good setup and I can see other one
But like I don't want to move any far coin
I think my fucking position is so big that I'm done with this one aside like
I just but if I had to add like pop cats looking really good
like yeah, and that's another strong one Mendo like in terms of listings and
community and all that.
I don't know.
I don't know.
Not.
WIF looks good here.
I still like S-B-X over WIF, I think.
But WIF is pretty strong.
I mean, there's like, yeah, but Jenny, like the dog with the hat actually does look good.
Like, you know, if you look at it on TradingView, I know this doesn't look
good, but on TradingView, it looks fucking amazing.
This is pretty good.
Are we just going to run back all
these memes? To Amanda's point,
there's two schools of thought. If you think
we're selling May and go away,
which I don't think Amos do, really.
That's proven
wrong, right?
I think you've got until
mid-June. Yeah, I agree.
Maybe 10th of June.
I would want to be severely
reducing. I'm taking a lot
of positions off mid-June. That's my goal.
That is a short time frame.
I mean, it's a short time frame,
but for maximize...
This time frame is a lot.
I know what you're saying, and the data backs this up.
That data backs you up.
And we were looking at it yesterday.
The explosive meme move, for instance,
that took place last year
happened from...
The drum candle on Solana
was fucking like
it was a month
the meme move was a month
so four or five weeks
and if you're arguing
that the move has already started
then you're right
the clock's already started
so we've got three to four weeks left
in my mind
then we run it back in Q4
then we run it back in Q4
which I would be comfortable with
I'd be perfectly happy with that
it kind of like
part of me feels like,
man,
it's like this new,
this new meta,
this new cycle is just starting.
But,
and that's why it's hard for me to fathom like,
this is going to be over in four weeks.
That's just like my personal emotional feel with,
you know,
not taking a hard look at all this,
but it's, it's good advice and keep that in
check that you need to start thinking about that it could very well play out like that then back
to your robin hood point and then they need to get going on some of these things and we need to get
some of these spot listings coming in soon um it's going to be an interesting early summer or i guess
late late spring, technically.
I think people know if people want to buy shit in summer, give the people
what they want. List the tokens, make your fucking
fees. Coinbase and all those companies,
make your cash.
We're talking about memes. If I was Coinbase right now,
I'd list all people's favorite meme coins just from a pure
media standpoint because they've taken
such a beating on the back of this
in terms of PR.
I fucking list the biggest memes
just to give people something to chew on while we're getting chewed out in social media straight
up so what pr standpoint what we're saying at the end of this conversation which ones do you want to
own what are your top three other than fart coin or like other than your current Dogecoin Actually That's
Okay that's not in our bag
Doge
Especially the Solana thing
That happened yesterday
I think it's pretty cool
And it's just sitting at
23 billion dollars
Talking about the king of memes
So we're talking
Three that's not in our bags
Okay
Doge
I don't want to say Floki
But These memes always pump again Like It's stupid but I don't want to say Floki, but
these memes always pump again.
It's stupid, but
you know,
if you want to keep it safe.
What do you think, Tyler?
Okay, I'll say Doge, Popcat, and let me think about
the third one while you guys think. And Trump.
Oh, wow.
That was some wild takes.
What are you going to get for Doja?
I don't know.
I'm happy skipping the Doja trade here.
I think SPX.
That SPX chart looks good.
I think Mog looks really good.
And one of the wild cards.
A token like Pingu.
I see Pingu making a run.
For sure.
It's 80% off all-time high still.
Luka just went up on stage yesterday and said there's the biggest announcement of the year
still coming.
So that's a potential.
Okay, if we're talking the smaller ones, like Popcat, Pingu, and like, I don't know
I have another one.
another one.
What do you think, Mando?
Yeah, I think looking at Mog again,
just looks like that's the one for me right here.
Pepe's had a decent move now,
and I think Mog has got another 2x in it here, basically.
Yeah.
2x feels pretty realistic.
What no one's talking about is the number one runes,
the dog token,
which is quietly at $520 million with a correction on the way.
So everyone's still fading the top runes dog.
I'm so tired.
You know what?
I'm even tired of the runes thing.
I'm like – like I looked at Pups right now and Bitcoin's at $110.
This thing is still ranging at $30 million.
You know what?
It's devastating.
At this stage, my quarter million dollars in Pups that once was,
it's probably worth like $15K.
I'm going to sell it and buy myself an insane vacation this summer with it.
That's a great fucking 10-day in a five-star resort with my girl.
And I'm just going to drink it away.
Yeah, probably get better.
Yeah, better ROI on life.
Than watching Far Cry.
What we haven't talked about is alts.
So we've been talking about memes for alt season.
We talked about hype.
But other than hype, are you looking at any of these other more traditional alt plays?
So like WorldCoin's been on a tear.
It's up 32% this week.
Jupiter had a big announcement yesterday.
They're rolling out their Lend product.
They're up 20%.
Nice.
Tau's been hanging out.
It's doing all right.
I kind of point it still like it feels like it's AI and memes.
What up with the Believe Eco?
Talk to us about that.
Yeah, yesterday was a very messy day.
Yeah, look at the launch coin chart.
It looked amazing.
And then one day got new from 260 to like 160.
What happened?
Yeah, the total market cap in Belieb is 280 million right now.
Launch coin's at 177.
It's kind of hanging out at support right now.
180 million's been at its support level
yes messy day from uh founder been past your neck yesterday so about a diggo uh believe that came
out and said we're gonna make a few changes launches using the launch coin handle are
temporarily paused due to a surge in non like non-legitimate like try to get rid of like the
trash tokens the scams they're launching. Kind of made sense.
And then a change to their verified as new feature.
They're going to go live throughout the day.
They immediately got pushback.
So 30 minutes later, we're going to make changes based on the feedback here.
Give us 30 minutes.
And then a few hours later, sorry for the chaos.
Live iteration.
Staying stagnant is not an option.
We've got to keep evolving.
And then eight hours later, he makes another pivot and says,
Believe will not be the arbiter of truth.
No more featured, throwing out the verified launches,
which was kind of like the hallmark of this app.
So anyone could launch on.
All right. And that's how we had 15,000 launches. which was kind of like the hallmark of this app. So anyone could launch on, right?
And that's how we had 15,000 launches.
But part of the core bull cases, he was going to be able to round up real builders with real products.
And then they would launch them in a more,
like in a verified fashion so that you knew like, okay,
this is like a legit launch to watch.
And now they're,
they're kind of throwing out that responsibility.
And it happened in a knee-jerk way.
So, like, I was following all this in real time.
And it's like, we're doing this thing, then this thing, then this thing.
And I hate this as a market participant because to me,
it just shows that you're very reactionary.
You're making knee-jerk decisions and you're not sitting down and making like a thoughtful plan and vision for your ecosystem so like i've
paid the bull case on this show but i have to be very objective here like this was a bad i thought
this was a very bad look from passionac and the believe app and and uh the market's kind of
showing it a lot of the recent believe launches
like they're pretty low like let's look where the market caps at yeah we've got three coins
hanging out over 10 million but they're all below 15 now pretty a lot of stuff down on the day
there was another messy one of the recent launches clad like the founder got his twitter deleted and
it's so much drama dude like i looked at the comments and i'm like then people were pissed
that like pastor dac has not been like supporting the mucorns they're kind of fucking them off when
they were the biggest in ecosystem and this and that i'm like i don't know what is a more predictable
thing than what is going on right now i know i was just gonna say
this man it's like i tried to believe it i'm looking at it like fuck like it's the same thing
all the time exactly the same with ai16z what happened with virtual it's like if you're trying
to be some sort of like gated launch pad and like you've got a secret source to launch good things
it works at the start and then it just gradually gets
worse and worse. I mean AI-16Z
went to 4 billion and so did
virtuals right?
We're not in that
market.
This was just this was literally just
the guys that stuck around
deciding we were going to buy this.
It was the AI-16Z people.
Yeah.
I shared my negative outlook.
The potential upside,
paint the bull case,
it's still at support.
180 million is holding.
The bull case of them
still bringing in founders
and having a viral launch
is still on the table.
The thing is still only two weeks on.
100%. So I'm still not like writing this
to like send it to zero. That's not what I'm
saying by any means.
My advice to Ben is just to like
take a long weekend.
Sit down with your team.
Like think about like how you
want this to go and just stop making
rapid decisions
every three hours.
And please don't crash out.
So I think that's a natural evolution of the founders.
They usually crash out next.
Come out,
say,
okay,
we were too reactionary.
Here's our go forward plan.
Here's a potential flywheel.
Here is like the,
the set of X founders that we think are going to be able to come launch
products with us next the next month.
And I think it would do a lot to inspire confidence.
So we'll see.
He should come on the show Tuesday.
ICM Summer.
I don't know.
I'm not sure if I'm ready for ICM.
If I'm calling ICM Summer.
It's Solana Summer.
Let's talk about Solana Summer.
You're at Accelerate.
There's been a lot of chatter about ETH on the timeline.
The Sol ETH chart looks pretty damn good to me.
I'm betting on Sol being a faster
horse than ETH
if we get an alt season this month.
And part of it's the momentum
coming out of Accelerate. Broke, you're
boots on the ground. What's been your experience?
Listen,
I'm the founder of an evm aligned company
i want to put this forward um but but uh solana every time you know um look so i'm excited was
electric it was a great conference it's still going on today i just happen to have to i have
to leave but or else i'd be there um there's a lot a lot of energy. All the little, this goes,
all the creators are there.
Then you have,
it's,
I was telling someone yesterday,
what I like what Solana is like,
there's a really cool culture.
So you have all the,
like the creator folks,
then you have the nerdy devs, let's say,
then you have,
just the consumers,
the participants that come and chill.
And then you have the big founders.
They're all here,
by the way,
like the big dogs,
like there's a lot of big folks,
as you can see from the,
from the people we're speaking, the are packed every booth is packed it's not
a huge venue it's perfect right it's at pier 36 uh in new york by the water and it just it's it's
solana in a nutshell like there's a little bit of this and a little bit of that and it was a great
conference i'm really glad that ledger brought me out here i'm very happy i came it's like going to
a cool like apple conference like i don't know how to explain like it was just really good energy
um so a lot of people that i knew and a lot of the creators etc as well and and this it reminds
me why i'm bullish on the solana ecosystem and i have been bullish on this ecosystem q4 2023 and
i've not once been bearish on it i I was pissed off during the Libra scandal,
but I was never bearish on Solana's ecosystem.
And I think it's recovered very well from that.
And what I love about Solana is that
while a lot of people like to take the piss on it
and say it's just a meme coin ecosystem, it's still not.
And I think that's been proven since.
There's a lot of great things being built on it,
whether it's Deepin, RWA, et cetera.
A lot of great apps.
And it's still the most attractive place to build as a founder.
And that's a fact, you know, and I think that it's great.
And I think that there's some good notes that can be taken from Ethereum
and its foundation.
I do think that they will probably like do it.
But I do think that, you know, I see the appeal in Solana still
and it just keeps me bullish on it.
Solana Accelerate is a great conference.
It's really,
really good actually. So I'm very glad
I came. And we've seen some of the big updates.
So we had Solana Alpenglow. That's
the next network upgrade. It's going
to be 100x faster.
We had the Kraken
stock tokenization coming to Solana
news. We had the largest meme coin, Doge, bridization coming to Solana news.
We had the largest meme coin, Doge, bridging over to Solana.
I think that's more of a minor one. We've got Jupiter rolling out new products as it becomes its lend,
as it becomes a more comprehensive DeFi protocol.
And then Solana Mobile betting more, betting bigger on its own token
and just a broader mobile ecosystem.
So that's a lot. It's just different.
It's just different.
Solana is going to be the... I don't like the whole
thing going on right now that, oh, Hype will flip.
So it's stupid. Hype should aspire
to flip Binance.
That's the narrative, right?
Solana should aspire to flip whatever the fuck,
right? Solana
wants probably the next Uber, Airbnb, etc. to be built on Solana should aspire to flip whatever the fuck, right? Like the next Solana wants probably
the next Uber, Airbnb, et cetera, to be built on Solana. And it will the next like helium right
now, right? It's mega, right? The next AT&T is being built on Solana. Literally. As a matter
of fact, I'm pretty sure they work with AT&T, right? So these things, right? The next social
part in Farcaster announced that they have a Solan integration right now so so long as that right so long as like the apple right that's like so long as aspire to flip apple
as a company you know like that to me that's what it is and hype is completely different right
uh than that and and i think that's just how it's always going to be from here forward um
i think salon is a multi-cycle major not only is it still the token of this cycle, I think it will continue to be one of the biggest
in this ecosystem. Numbers don't lie.
The volume doesn't lie either. I'm with you.
I'm comparing and contrasting ETH. This says, again, someone who's on the
timeline as a market participant. I don't know if the hype is
gone from ETH. The ETH conference says I don't know if it's like the hype is just kind of gone from ETH,
but like the ETH conferences, you don't have these splashy announcements.
Maybe that's because like the development
and it's coming out of so many different parts of the broader ecosystem.
It's, you know, it's across L2s and not just ETH mainnet.
And maybe Slata is just more centralized.
So you get these pockets.
But these pockets, when they roll out...
That's always been the case.
They always can have a conference because it's way more... The Foundation
just takes a more active role in BD.
Whereas the ETH Foundation doesn't.
It doesn't
The thing is going to change.
But yeah, you're right.
I feel like it's just
an arbiter of
politics almost.
These are a different
foundation to other blockchain
foundations.
The whole feel of it is just very
it's not around business.
You're right.
I hope this changes. I think the new people in churches Foundation are good, and I think that's going to change.
But, you know, that's why Sloan is ahead, and it's working.
Baroque thinks ETH is...
You're still bullish ETH.
Well, I just...
What I did is I was bullish ETH, so what I did is Pepe and Mog on top of my rect.
So I'm pretty much only have exposure now to like Ethan soul via meme
coins.
We're going straight out.
I'm back.
I'm back to a hundred percent,
pretty much a hundred percent meme coin portfolio.
And I like it.
Yeah.
All right.
Well,
I think we,
I'm just a genius.
We've gone around it at the talking points.
Let's just quick reactions to a couple of the headlines,
and then we're going to go to Farcorn Friday.
You'd spend here just in one minute.
CFTC, Perps Trading.
I feel like this is kind of mixed.
I think some people said this is good for Hyperliquid
because it means they'll face lots of regulatory challenges.
The flip side is this is perhaps they'll have more competition.
Curious, Amanda, do you have a read on this and potential impacts to,
or either of you?
A CFTC is a governing body.
They are basically saying we can allow perps to trade,
but they'll need to be regulated.
And I don't know what that means for a perp dex versus a perp sex.
Let's put it that way.
They've been pretty aggressive against dexes doing this.
Just because it comes down to that rule of the CFTC is the commodity
regulator, right?
Right.
So they are saying we can allow commodities perps to trade.
But if you're going to come in and be like, look, we're going to list a long tail of perps here,
then they might be like, well, we're not going to allow you to do that in the US because we can't regulate it.
not gonna allow you to do that in the us because it's not regulated we can't regulate it
so i think what you'll see is that the ones that basically get etfs will be available to
trade as perps in the us and that will happen relatively soon i think but i don't know if a
platform like hyper liquid necessarily will be the one that that benefits from this it will be
like coinbase is able to to to trade more i't know, though. I really don't know.
Yeah, I'm kind of on the fence as well. I don't think the reason Hype
pumped yesterday was on the back of this news. Just to put that out there, I think it's other drivers.
Yeah.
I think my point is I'm not sure that this is necessarily a slam-dunk
bullish headline for Hyperliquid. So just one
to watch. And the other one, banks getting into
stablecoins, we've kind of
known that they were thinking about
it. This isn't like a formal thing.
They're still just kind of potentially planning.
It does feel like it's a
direct threat to Circle.
It feels like Circle needs to sell
ASAP. What was my
takeaway
from this one.
Yeah, I think that's very fair.
We'll continue to see.
But folks, that was it.
There'll be a buy for Circle.
I think XLB will try and buy.
Why wouldn't they?
It seems like they are.
They have to just dump this company and make my $5 billion and sell this on set.
Stable coins, everyone's going to launch a stable coin.
I mean, even Iran at this this stage is gonna have a stable coin
well we went around the horn sims if you're ready let's go
how do you know that
i'm hearing things
i'm hearing things you know okay so um as people may have known,
X has not been connecting to RaffleBot.
It's not a RaffleBot.
We want to get these spins out today.
So, what we're going to do is we're going to reward
our two highest
referred volume users.
I won't give the exact volumes out, but
I can tell you the first spin will be
Eddie out.
And the second spin will be DXV, who I believe is a red guy.
DXV123.
Yeah, so regardless of whether you're here or not.
I'm stupid.
This is a decision.
Are they here?
No, but regardless of whether you're here or not, we're decided because it broke.
And we couldn't.
The Rafflebot broke.
It's not Rafflebot's X that completely broke.
And by the way, change changes coming to that very soon
Y'all with regards to our streaming, but we
Decision to reward the people top to sitting at the volume that we've referred and they've made a lot of volume on need and we think that's fair
To pick the people I appreciate you guys saying is pretty smart because why not right?
You guys have driven the most volume on on on firmware on yeet using the firmware rift code and we think saying it's pretty smart because why not right you guys have driven the most volume on on foam wire on yeet
using the foam wire rift code and we think that
it's fair that we just
give you guys uh these two
uh these two um these two
spots so no i think they can
they can still request
i believe he's on twitter and i believe it's underscore
dxvii on twitter yeah dxv3 which is i know it's a Twitter and I believe it's underscore DXVIII on Twitter.
DXV3, which is, I know it's a number.
What's DXV?
We can do it for them because we've got all their
usernames in the back.
We'll play for them even if they're not here now.
The space is a mess.
I don't think it's going to work.
It keeps telling me.
It is messy.
Okay, so we're doing Farcoin
plus which coin?
Do we do Farcoin Bitcoin barbell
for Eden? I think that's fair.
How about Farcoin Solana for Accelerate?
Yeah.
Okay, higher wins.
A little bit of Solana.
500 Solana,
Farcoin and split the winnings. We'll go that far. I actually don't know what the limit is. 500 Solana, 500 Barcoin
and split the winnings.
I actually don't know what the limit is.
Well, let's find out.
Are you talking about playing them together?
No, let's do two runs.
Let's do two runs.
Oh, Dogecoin win.
I can't hear Mandel.
Let's do Bitcoin, Solana, and Fartcoin now.
Let's use up the budget, so whatever it will be.
Do what, sorry?
$500 on Fartcoin?
No, no, no, don't, don't, don't.
Wait, stop it, stop it, stop it.
Hold on.
Whoa, whoa, whoa.
Tell me what we're doing.
So how much is this again?
So we have $1,000 to play because they already made a thousand together right so we're gonna do one round let's do
two five it did let me do 500 then on fire so we could give both users the same right thing
so let's do 500 bitcoin 250 salt let's do that and then we split the winnings in half the winnings, okay
Right 500 fat coin. Yeah, yeah 250 and I'm all far coin 57x Oh my goodness. What a sweat.
Oh, what a sweat.
My fucking heartbeat is going after that.
Oh, man.
Yo, honestly, Mando, that was dirty because Solana almost won last minute too.
Yeah. Oh, well. Mando wins again. Mando, that was dirty because Solana almost won last minute too. Oh, well.
Mando wins again.
Mando wins again.
Well, guess what?
The first biggest referrer, though, each made $500 without even coming on the show today.
So good for them.
It's the fairest way of doing this, and we'll continue again on Monday.
So, well, Monday, by the way, are we taking off?
It's a big U.S. holiday.
Thank you for understanding.
Thank you for understanding.
I think we should, yeah.
Yeah, let's have it.
Let's chill.
By the way, does that mean that the markets are closed Monday?
Yes, markets closed Monday.
Oh, we're going to rip this weekend.
As long as Trump doesn't give us any more bad tariff news.
Oh, don't worry.
We got India in the bag, bro.
Forget the EU. They're useless.
Coming out of his
big, beautiful crypto dinner last night.
He needed to help the crypto markets
here this weekend.
We'll be back Tuesday. We'll be back he needs to help the crypto markets here this weekend. So we will,
we'll be back Tuesday.
In action down with you all.
Thank you all for joining us here on fart coin Friday.
One of the shout out our listeners,
one of the shout out co-hosts,
shout out our partner wallet connect.
Thank you all.
Enjoy your weekend.
Have a beautiful day.
Beautiful day.
We'll see you on Tuesday.
Goodbye.
Goodbye. Oh, yeah.
