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FOMO HOUR: World Peace and Crypto
Recorded: June 24, 2025 Duration: 0:59:58Space Recording
Short Summary
In a dynamic crypto landscape, Texas leads the charge by becoming the first state to purchase Bitcoin, while Polymarket secures $200 million in funding amidst rising institutional interest in cryptocurrencies. The market is witnessing significant growth, with major players like Pomp raising substantial capital to acquire Bitcoin, indicating a bullish trend in crypto adoption.
Full Transcription
Thank you. Thank you. so
gmgm everyone thank you for joining us here this morning.
We're going to start the show here in just a minute.
We're still getting our speakers up on stage while we wait.
A couple shout-outs.
Meg, GM, good to see you.
Thanks for joining us.
Fictional, Poliwave, McNutt, the homie, GM, GM.
Who else we got?
Bonsai, Cal, Admiral, Artami, GM, Tosam Sam Tukas GM
Decrypto
alright
rec guy
love our rec guys
McMoney
lots of rec guys
Rad Radley
Tim Hozick
good
alright
Sims
whenever you're ready
let's kick it Thank you. Good morning.
Good morning, everyone.
GM, GM, and welcome to another episode of FOMO Hour.
Today is Tuesday, June 24th, 2025.
Folks, it has been an eventful start to the week, to say the least.
There is a ceasefire on the table. It's already been broken a few times.
Trump is cussing as he's describing the situation.
Meanwhile, markets are rebounding fiercely.
And so we are asking today, is the war bottom behind us?
Or are we in for more pain?
We're going to break it all down on today's show.
No Faroakies out all week, but we got Mando and Logan in the house.
Boys, how are you doing? Jim, Mando.
Jim, man, I am doing am uh i'm doing good i'm doing good my birthday yesterday i've just been um catching up with stuff today
catching strays
catching strays from rival casino products and articles bigger it seems. Things you hate to see, but loved your response.
Yeah.
Well, I woke up after my birthday, Chuck CT.
But I'd do some positive tweets.
Well, the shirt is on today.
He's taking matters very seriously, folks.
We've also got Logan on with us.
Always serious.
Logan, Jim.
Hey, good morning.
I missed the birthday.
I'm sorry, Mando.
Happy birthday.
I believe it at this point.
Yeah, I'm...
Nice. I normally tell people I'm not much of a birthday person, so I typically default
to congratulations on being old. It's kind of like my little thing. So congrats on being
old. Nevertheless, I'm doing well here. It's extremely hot one more time.
Market following in kind today.
Indeed.
We're finally going to get past the heat, I think.
Mid-30s. Mid-30s are great.
I feel like the body typically
holds up to the 30s. I feel like 40
is when things start to get a little
ifier. That's what I'm
saying. Enjoy it. Hopefully's what I'm saying.
So enjoy it.
Hopefully you had a good one.
Folks, what are we talking about on today's show?
We're going to start with Mando's market report.
We've got this weak iron right out of the U.S. We've got the ceasefire.
Is it going to last?
We saw huge moves across majors, alts, and memes on the back of that.
Circle pumps more yesterday.
Maybe cool enough.
It actually opened red today.
Trump is cruising to $80 billion in stables.
We had at least seven different corporate treasury announcements yesterday.
Texas becoming the first state to buy Bitcoin.
The housing authority in the U.S. now studying crypto as collateral.
That was a big one. A couple big raises, one on MegaEth,
and now one from Polymarket breaking before the show.
Yesterday, we missed those NFTs and telegrams.
We might dive into that later today as well.
So we've got a lot to cover.
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All right, Mando, if you're ready, let's get into it.
Oh, is that music?
Who is the man, macro daddy of the land?
Can you dig it?
GM, everyone.
So, yeah, probably a good day all around.
It feels like we're getting closer to the end of Israel versus Iran situation. Trump has been
calling it the 14-day war. There is a loose ceasefire in place. Now, there's been ceasefires
before between Israel and Hezbollah and Israel and Hamas, and they've been broken before.
and they've been broken before.
The one, they do, they tend to have periods of, like,
just after the ceasefire, both claim, you know, to have broken it,
and then normally a few days later things start to, like, cool down.
So hopefully we've got probably another 24, 48 hours of,
they did this, and then maybe after that it will Calm down
I've never seen Trump as animated as he was
Getting into the
Helicopter or plane
Definitely seems like he's not
Happy at this ceasefire
Breaking down, must not have slept that much
I imagine over the last few days
Trump, but
It does feel as though we're getting towards the end of this
Which I think is
A good thing, I think on the table now, really, is if this now turns into a broader peace process.
Remember, Israel has been fighting Amas, Hezbollah, Iran. Many of them are seen to be
Israel proxies, the Houthis as well.
So if there is going to be a peace process here, I think there will be an aim to try and do it across everything.
And that might take a little bit longer, but I think that will be the aim of the negotiators for sure.
Yeah, to try and put a better kind of everything.
put a bit to kind of everything uh so i think that's i think that would be um probably a win
uh for kind of all sides i think um i think in terms of markets we had a bit of a rally but like
stocks never really sold off so it wasn't really like a thing that really affected stocks. The main mover has been oil, which is down a decent amount.
I think you had also other Gulf nations pumping a lot to kind of quell this.
Trump was saying that yesterday.
So the fact that this is already over kind of points to the idea that, yeah, oil isn't going to gap up.
that the oil isn't going to gap up.
I think it also puts,
I think oil is also trying to price in the idea
of like maybe a wider peace process now after this as well,
which would also take it lower.
So yeah, tough to be long oil
into the headlines that we got yesterday.
I think they're pretty bad
if you're looking for geopolitics to flare up again.
In terms of macro stuff,
there's been some light indications from Fed officials,
again, that the July rate meeting might be in play.
So it'll be interesting to see how that develops
over the next few weeks.
I don't think it will be, but it's, yeah, let's see.
They are surging that at least we will get one.
At least a surge and it will get one by September.
But yeah, let's see how that one unfolds.
In terms of crypto, it was mainly just more treasury headlines.
The biggest one was probably
um pomp known for the pomp podcast raising 750 million looks like to buy bitcoin um there's a
weird like corporate structure around it feels like it's a merger at the same time with another
company so they're basically raising 750 million to buy bitcoin which is a good sign and then
taxes taxes coming in gonna buy 10 million bitcoin which is pretty wild uh. And then Texas, Texas coming in, going to buy 10 million Bitcoin,
which is pretty wild of a state of that size,
which I think is quite a big step change,
I think, in how people will view crypto.
And again, just means that we'll see more and more
of these treasury-style companies.
And I think that's going to be taken very, very positively.
On macro, I think we just had consumer confidence,
but nothing that will move the market that much.
We had Tesla come out, I think,
and announce their robo-taxes are coming.
So that's kind of taking NASDAQ hard yesterday and today.
But pretty quiet, I think, overall there.
But yeah, same trend of treasury companies buying Bitcoin.
Metaplanet also said they're going to buy $5 billion as well, I think.
So good measure.
so yeah that's it yeah the the corporate treasury stuff was wild i'll just run through
So yeah, that's it.
Yeah, the corporate treasury stuff was wild.
the the list that i had for for my newsletter i had to put it in its own section there were so
many so pop announced his 750 million dollar raise for his bitcoin company we had this company called
sequins uh communication i think it's a semiconductor company. They're going to raise $380 million to buy Bitcoin. We've got this former hedge fund, Coral Capital. They're raising $100 million to
start up a B&B style treasury company. Sailor, we had his headline, 245 Bitcoin last week.
MetaPlanet bought $1,100 last week. They now have now have 11 000 bitcoin so folks haven't been
following meta planet they have been i think they i think they're number two i don't have the data
in front of me but they have to be close do you know what meta planet does they buy bitcoin
no they do hotels and yeah they have like a bitcoin hotel i i looked that up a while ago
it's i mean par for the course.
They just had failing hotels
and then they pivoted to Bitcoin.
And now their
hotels are doing better, I bet.
Their stock has been doing quite well,
I believe.
Yeah, so it's up
400%. Sorry to interrupt me, Tyler.
No, no, no worries.
That's right in the mix of all this.
They're like the failed holiday in
Japan decided that they were going to get
involved and buy Bitcoin.
And now everyone's heard of them.
In Japan, they're probably just known as that weird
place you once got a hotel in
in some rogue city in the US.
That's
kind of what they are. And now they're worth
$920 billion
GPY. So what's JPY
to the US day?
About $150 million.
So they're not
huge.
So it's like $635 million or something.
It's one way
to go about it, certainly.
And then Trump Media was another one.
Not like it wasn't new news, but they basically confirmed their plans.
They're going to do $2.3 billion.
They're also going to do a $400 million share buyback.
So they're flush with capital, and they're finding ways to use it.
At least that seems to be the trend there.
The rates move was a big one I was watching yesterday.
So Bauman came out with some very dovish comments.
Basically said inflation has been pretty low and we're open to cutting as soon as July.
And yesterday the CME odds popped to 23% for a July cut, which was a 50% move.
But then Powell came out this morning and kind of squashed it and said, I'm not in a hurry to do anything.
And yes, inflation is low, but we know these tariffs are looming and they can still spike inflation.
I mean,
this was actually one of my questions for you from a,
it does have,
everyone has to vote.
yeah,
although he has the deciding vote,
I'm just trying to put perspective that like,
it probably puts on the card,
the September rate card,
enough of the members think they should be a rate cut as well.
Yeah, I mean, it's definitely, it's heavily favored.
I mean, we're looking at
66% for one, 12% for
two. So
a massive favorite for
a rate cut in September, which I think is the
consensus view right now is
that we probably will not
see one this summer, but the odds
in July are increasing. There's still a lot of time. I think the big one this summer, but the odds in July are increasing.
There's still a lot of time.
I think the big one for me, so I'm starting to think, what is the next summer, Katz?
We kind of talked about this yesterday a little bit.
If the war is behind us, what's next?
I'm wondering if it's this July 9th tariff deadline,
so that the 90-day pause that Trump put in, I believe that that comes up July 9th tariff deadline so that the 90-day pause that Trump put in, I believe
that that comes up July 9th.
And the reality is we haven't had a whole lot
of progress on trade deals.
I think the US got one done with the UK
and that's pretty much
I think
China
I mean the thing is they'll just extend
There's nothing on the table
There's clearly been a lot on the table
It feels like the EU is becoming
The more difficult one
Which maybe is expected
I think we'll see trade deals
I just don't know how many we'll see
I don't know
I was thinking about that today.
In terms of the big geopolitic flare-ups,
what could really go wrong?
Middle East is always there,
but there is somewhat of a light of the tunnel
for the second half of this year
that you could get some sort of a deal in place
and let's see
Ukraine
Russia
I do think that one of the
byproducts of what Trump just did
is that he's shown that he's
not just a talker
you know
before there was a lot of like he never does anything
you know he's all talk right
I do think that with Russia
Ukraine you'll get a peace
as well in the coming months
and then you're really
just left with Taiwan
I was thinking to myself I was like
is that the thing? Is Taiwan the next one?
I don't know I don't know.
I don't know.
China didn't get involved.
Maybe they decide it's time.
That's the only other really big one on the horizon,
if you don't count the horrific civil wars going on in Sudan
and some of the other African nations at the moment.
But that's the big one that would cause markets to
massively flare up let's see how the ads are trending so i think a lot of
sharper geopolitical experts that i follow still have
china invading taiwan as is one of the bigger items to look out for
i wouldn't call it a favorite outcome,
but they think it's a very real chance of it happening.
Now that that's at some point that's not in this year.
They're not trying to predict exactly when it's going to happen.
That does feel like the next one.
So I think we want to fade that from a geopolitical standpoint.
I think from a domestic standpoint,
it's really just inflation driven by the tariffs.
Like we need tariff deals or delays.
Like I'm trying to think of like what else goes wrong?
Like what throws a monkey wrench in this?
Well, there's always something, isn't there?
There's always something.
I don't think many of us saw this coming two weeks ago
when Bitcoin was sitting at 110k and
it was at 2,800.
Yeah.
I did not see this escalation coming.
I really,
I really do start to think about these things.
I'm just like,
what is the thing?
You know,
you could,
you could get a significant terrorist attack.
That's what you could get
that's still on the table
I don't know in like a western nation
I think that
that could happen
to like derail
a peace process potentially
I don't know
how significant but like
that could be on the cards.
And then...
Yeah, it would have to be...
We've got tariffs, which I think we're at max tariffs.
I think they're probably down from tariffs.
It would really have to be rates going higher, a, it would have to be rates going higher.
I think would be the only thing that would really scare the market here.
If 10 year keeps going past 5%.
Now I didn't really scare it that much.
That was the first half of this year,
but I do think there's a level.
The U S pays three,
nearly $4 billion a day in,
in interest rates, interest payments.
Just to be very, very clear about that.
That is an absurd figure.
Absolutely absurd.
Talk about how much was given to Ukraine, right?
About $40 billion, I think, or maybe close to $80 billion.
That's like a month or two of interest payments.
Like, it is absurd how big
the US interest payments are right now.
And I think if they were to go up
to like 5% plus,
I think people wouldn't be scared.
So that's my one, I would say would be scared. That's my one
I would say to watch out for.
We spent a few weeks trying to fix that and talking about austerity measures
and everyone freaked out. So we pivoted.
We went Main Street over Wall Street for a week
and people did not like the S&P
falling. So now it's back within 1% of all-time highs,
but the debt is going up.
So pick your poison, I suppose.
I'm going to play a game of like –
because I think people just –
so what are the larger single budget items on the US deficit?
I would love to see, just to put in perspective,
if people have this fucking is.
So, yeah, you spend more on interest than you do on defense.
That is wild.
Feels like a problem.
Yeah.
What things cost?
30 billion.
This is really interesting.
What will get spent?
NASA. NASA costs 30 billion so that's a month because
Wow the total so everybody's about
military aid right or non military
military the aid budget is 30 billion
okay so that gives you a sense again Military aid, right? Or non-military aid. The aid budget is 30 billion.
Okay.
So that gives you a sense, again, like Elon going in there and being like,
hey, we're going to cut all this
aid to the countries
of which like Pakistan,
Egypt, Israel,
which other ones
get big in the US.
I think the other biggest
Ukraine obviously
yeah Ukraine
Jordan I think gets a lot
yeah
this is just wild
it puts it in perspective
and it's just going to keep getting worse
unfortunately
which
in theory is also one of the core theses
behind stock markets going up, Bitcoin going up.
It's just increased printing.
The other headline that I saw is somewhat related to this.
And I don't know if we've talked about it on the show yet.
And I'm curious for your thoughts.
Is the other Fed change?
I don't know that this is going in immediately,
but I believe it's happening potentially soon.
Is they're talking about easing one of these bank rules
that allows, that was,
if it was like tied to how they were doing their accounting,
as I understand it, it's effectively going to make it easier for them to buy treasuries
and it's going to loosen credit policy.
So with the ultimate outcome of it driving more liquidity into the market.
Am I capturing that appropriately?
Have you been following this?
I'm trying to find the article here for what.
I mean, that's one way of saying it, I would say.
The other way of saying it is saying that banks are probably less well-capitalized,
which is what happened up to 2008.
So that's the downside risk, yeah.
You get more credit.
Yeah, this looks like a retrenchment of the 2008 glass liver sacks.
It's the supplementary leverage ratio.
They're going to be changing that.
Effectively, looser capital requirements, more lending.
But it introduces a lot more fragility risk into the system.
So what could go wrong?
So that's another one to look out for, I guess,
as a short-term bullish catalyst.
We don't know what it necessarily means longer term.
Yes, short-term easing of 2008 bank liquidity rules
is probably can lead to a bit of a bump.
I wouldn't say it's my favorite time to do that
given the amount of unrealized losses
on a lot of these bank balance sheets right now.
Let's see.
We shall see indeed.
Notable move in the fear and greed index.
I think we were at 37 yesterday.
I already jumped to 47.
And honestly, it's wild how fast that can shift.
And you already see it since I've been on the timeline.
I would argue it's probably already a bit higher than that.
But let's look at some of these moves.
So Bitcoin 105.4, up 3%.
It feels like it's up even more than that if i'm being honest i mean it was
in 98 what on sunday so up a solid 7 000 from there eth is back at 24 30 outpacing bitcoin
on the day solana outpacing it as well back at 145 hype up four up 4%, 37. I mean, that dip to 30 was erased rapidly.
That was, you had a day and a half, maybe less, to buy that dip.
So clearly the money is waiting to jump in there.
Say was the leader.
I thought this was just random, but apparently the state of Wyoming
is looking at partnering with, say,
for their stable coin.
Do I have that headline right, Logan?
Did you have a chance to see that one?
I did not see that.
That sounds really weird, but why not?
Let's pull this up.
Say price skyrockets as Wyoming considers it for a new stable coin.
You know, I don't think that's what it really is.
Like if you've noticed that say was a very heavily or popular short in the
market, I think.
I came out.
There's a couple of others that had like monstrous move yesterday's move.
And I told them that like they basically given up on that one that had like a
monstrous move yesterday.
This is trading at 1.6 billion.
So if you zoom out on the say chart, it kind of looks like that.
Yeah.
You have some big moves, basically.
I think you had a big short squeeze in the market yesterday.
Big, big short squeeze.
The top movers were, I think, a lot of the tokens that were heavily shorted.
And I think Say is one of them.
I think Tia had a big move as well.
Yeah.
Feels like...
Man, all these charts look the same
the one that I've been following is this
if you go into Hyperliquid, this long
hype and long Bitcoin, short everything
else
the vaults, if you go to the vaults
it's become one of the most popular vaults
I haven't put any money in here
short garbage
brilliant brand there.
This is now back to 0% last month.
This was doing, this was like crushing it.
But he was short a bunch of things that just had a massive short squeeze
basically yesterday.
I quite like this as a strategy.
I said I've been doing it with certain tickers.
But interestingly, he's short like each. I quite like this as a strategy. I said I've been doing it with certain tickers.
But interestingly, he's short like ETH.
Yikes, ETH is number two on the list at 20x short.
I'm like long ETH hype Bitcoin and short other things against that, basically.
This is an interesting vault.
From my perspective, and I'm not as deep in this as you,
I would probably cut out the top
eight of these shorts
and maybe go further down.
Like a little bit
more of the true garbage.
I don't know.
Throwing Ethan's soul in here
along with a
Bitcoin pump. So you're basically
just betting on massive Bitcoin dominance.
And hype
dominance in alts.
That's basically what it is.
Which I think is not what I would
be betting on. I have
exactly your thought as well.
Is that like when I'm looking, I've told you, like I looked at Sui.
I looked at Ondo.
I looked at – what else have I been short?
Let me bring up my shorts.
Some of those
IFTB memes were great
too soon
it's not that I like
I think they're terrible
it's just the tokenomics is terrible
some of them just have
crazy tokenomics
and it's just really hard to get
the other side of that.
What else is like?
Arbitrum.
I'm sure it's my Arbitrum.
Also,
anyone can create their own basket and then other users effectively can,
can choose if they want to play in there.
All right.
This is,
I've never really done around in here it's interesting you get 10 of the profits
um of the vault so you basically it's like running a hedge fund but you keep 10 got it
so it was you have to seed it with an initial amount basically so he was doing very well
You have to seed it with an initial amount, basically.
So he was doing very well.
Yeah, basically until the last week.
It basically got zeroed out.
And now it's starting to...
Well, hype it down.
Yeah.
And then hype kind of underperformed on this bounce, I would say.
Like it's up...
Like I said, I got in like 32
it's up 10%
from that low but like other things are up a lot more
stuff that he's short is up a lot more
yeah
coming back to some of the other
movies just quickly there was
some of the memes SPX very
notable I mean
we love FarCoin.
I love FarCoin.
Talk about it on the show a lot.
I think it's somewhat indisputable.
SBX is a faster horse right now.
Like this thing, it went all the way to $1.60,
crashed all the way to $1,
and then rocketed 30% off the bottom.
And this was vicious move.
You see with Tyler.
I saw that on the board partnered with DF TV.
I see that this morning.
I missed the news.
I saw that it was pumping.
With has been also strong blunts,
continues to,
to bull post the whiff chart as well.
So it's hanging around.
There is a little bit of a curl on this one-year chart,
if I squint a little bit.
So I'm not going to be short whiff, I'll say.
Logie, any commentary from your side,
just reactions to any of the major move, the me move,
all to anything that we kind of covered in the first half of the show.
Not too much additional to add from my perspective.
Sorry, I got a dog barking here.
But I just wanted to add two little things.
There was a quote from someone in an article at The Crypt
that talked about the ping-ponging of headlines.
I just continue to
expect that and then um i'm distracted by the dog i don't know the other thing sorry
um today real quick folks the code for today will be yeet
uh so we will do double uh double eat giveaways later today. 15 minutes or so.
15, 20 minutes here.
I got distracted by this price action, so Bitcoin 105.5.
All right, so we are moving up nicely here today.
So feeling good about that.
I kind of feel like it's slightly a trap here.
I'd be wary.
I've seen that.
We might be a little bit of a bull trap situation.
I don't think it's like a bull trap,
but the price action that we saw,
I don't know.
Just be wary, man.
We had this really big rally now,
and it feels like yesterday everyone was desperate
to get the risk on as quickly as possible.
You can see that with the short squeeze.
And I think the next leg of this is probably a leg down.
And then the good stuff probably rises to the top.
Maybe we have a joyful July.
Now less than one week out.
In the meme market, we've got to talk about this useless coin.
So Bankai.
Bankai was right.
Again, he's been pulling his own maraud arc on this useless token.
This thing's at $140 million now.
It's up 37%.
So from what I'm classifying as this new group of memes,
the new soul memes,
it's the clear leader right now.
And I mean, man, this thing was hanging out
sub 10 million two and a half weeks ago.
You're looking at 20X in 18 days.
We don't see that too often these days in this meme market. So I've found that
notable. Labubu has been strong. Chill House has been strong. There's actually a handful
printing 30 to 50% moves. It also looks like the virtuals ecosystem has been bouncing back
as well as that crypto AI board. I think crypto AI back to about 9 billion or so. So some signs
of life here,
perhaps because the pump token got delayed.
I think that's, again, the overhang.
If we get any news on that,
expect some more volatility
in the sole mean market.
Checking in on our favorite stock,
Circle, 240, 249, down 5%.
Didn't know it had red.
Didn't know it had red days Didn't know it had red days.
Yesterday, it hit 300.
It flipped USDC's market cap.
It came close to flipping Coinbase.
I think it may have flipped Robinhood.
it was just some crazy comps out there.
It was just some crazy comps out there.
I think a lot has become very popular to be short this one.
We will see how that plays out.
It has been on a parabolic run that much is certain.
What I found interesting yesterday, we talked about Circle a lot,
we don't need to spend as much time on today, was the Tron.
So Tron is seeing what Circle is doing and wants everyone to know
just how many stable coins they have.
I'm trying to find the tweet.
80, yeah, here it is.
All right.
For those in the stream, $80 billion in USDT.
So Tether's USDT surpassing $80 billion, up $20 billion in 2025,
just grinding up only.
I saw a tweet that it's been consensus that plasma is the is the proxy bet on tether but it should
it be tron i feel like where this gets interesting is we know that tron is going to ipo soon
i think that they're doing
because stable coins are the hot thing.
Yeah, but it doesn't mean they make money.
I guess they make money on the fees, don't they?
It's a slightly different business model to Circle, I guess.
They're not making the yield on the treasuries, right?
Tron is a bet on money laundering
and sanctions. It's a bet on that. I think a bet on money laundering and sanctions.
It's a bet on that.
I think a bet on the East, perhaps more broadly.
Maybe a bet on Justin Sun.
And I think there's also now an argument to be made
that it's a bet on tether and stables.
So that's top of mind for me.
So if you were thinking about pulling upcoming IPOs,
of all the ones we know about right now,
I think, so we got news that OKX is buying an IPO.
Tron, what else?
I think there was another one.
Was it maybe Gemini?
There's going to be a handful of these coming out.
these coming out.
I would say that Toronto is the most
I would say that Tron is the most interesting.
interesting.
I mean, it depends on where they want
to come out at.
Definitely a better
story, I think, than Ripple.
Ripple's another one where
I'm a respect-the-pump
guy, not ready
to go short by any means.
It's because of the army behind that one.
Yeah, actually, that's to be fair.
Ripple stock comes out.
God help us.
The limit does not exist.
The stuff that's going to be said on TikTok.
Going wild.
We'll continue to monitor this sector.
There's clearly the growing cohort of CT
who is now migrated to just trading stocks
and is leaving our beloved alts alone.
Some breaking news before the show,
more on the raising side.
So it looks like Polymarket
is raising $200 million and evaluation over 1
billion. So big, big numbers for them. This comes, what, just a couple of weeks after
news of their integration with X and XAI. They're going to be the prediction market of choice
for Twitter. That was big. And I think what also has jumped out to me is there was always the conversation
of what will prediction markets, polymarket do post-election.
And during the quiet times, polymarket primarily rode sports betting
to keep their daily volumes up.
But now, during the geopolitical crises,
it's found itself back
top of the timeline
again.
You see more and more folks kind of referencing
markets,
talking about what's going to happen.
I think
PolyMarketsX account may have leaned a little
bit too hard into it,
kind of going the direction that their bettors are predicting what's going to happen.
And there's a little bit of egg on our face yesterday with some of their aggressive promotion.
But kind of hard to argue with the success they've had.
And some of these markets saw, I think that one, the leading Iran one,
like would the U S strike back one of those saw like 40 million in action.
So that they're seeing big numbers.
Logan,
any,
response on your site?
Any thoughts here on the market?
Yeah,
I was just going to say,
I mean,
you may know it's being referenced more frequently by people that you would
characterize as like legitimate, you know, reporters or analysts. Right. Uh, and it's being referenced more frequently by people that you would characterize as like
legitimate you know reporters or analysts right uh and it's not uh it's not seen as perhaps as
polymarket perhaps would like it to be the source of truth or anything like that it's a data point
which um at this point in time is becoming a more legitimate data point to potentially build an
argument or you know add to an argument.
And I think that's, that's pretty important because the validity of these markets was
certainly in question, you know, coming into the election last year about like, you know,
exactly where things fell with the markets having Trump, polymarket, et cetera, having
Trump, you know, much higher than perhaps polls did.
So I think it's really interesting.
I mean, a billion-dollar valuation,
I don't know what that means really for this space.
Again, just that number,
it doesn't mean anything to me at this point in time
because meme coins are a billion dollars,
things like that.
It's tough for me to really feel what that means.
So I don't have too much to comment there,
but I think this is a space that, of course,
has definitely legitimized itself.
And I still think it's probably the cycle winner,
polymarket, prediction market in general,
the cycle winner from this last year
in terms of legitimate adoption
and further growth potential.
You hear the take a lot.
Like what is crypto brought?
What use cases is crypto brought to the world?
Right.
And everyone's very,
the public take is nothing or very little.
I feel like prediction markets is a huge one.
This is such an easy one to point to from the cycle.
And I would agree that they're the big winner.
As for what this means specifically, one, potential airdrop, right?
I mean, a lot of folks do think there will be a polymarket airdrop at some point.
I don't know that I have personally a strong read on that.
I feel like they will probably go the IPO route if I had to guess,
but maybe they can figure out a way to do both.
But any big raise, I think, is going to continue.
Smoking crack.
They're going to have to be doing a raise.
I said I thought this IPO went to $60 billion.
Like, Polymarket's IPO-ing.
I'll bet a house on it over a token.
So you think no token?
No, why would they do a token?
They're based in New York. We need a Polymarket token market.
Of course, I'm not going to let one.
They're going like insane valuations right now.
Yeah.
IPO definitely makes more sense,
especially on the back of this.
With this recent raise,
probably a little bit further out.
So we will certainly see.
But big momentum from then,
and I think good for the broader prediction market space as well.
I was scanning the Myriad board this morning,
and I think we're seeing some volume increases over there as well
on some of these markets.
So that's been fun to see.
This Pingu market has been one of my personal faves.
Will Pingu be top 100
at the end of this week?
There's been some nice
volatility and some nice betting action
on this one. This was more like a coin
flip when I wrote about it last week. I think it was
number 101 on Friday.
It was like $8 million
behind the zero token,
layer of zero token.
So now it's back.
So now it's,
I think it was 99 when I checked this morning.
And folks like that.
The other raise I wanted to talk about,
trying to find a miracle here,
was a mega ETH one.
And this was tied to this liquidity decks or gte i at first i thought it was a game
because of the the promo ad that they are in here we are yeah gte 15 million dollar series a led by
paradigm uh and they are dropping a global token exchange there on MegaEth.
I was chit-chatting with Breadguy.
He's a primary, I don't know what you would call his role at MegaEth,
one of their mouthpieces.
He does a lot, wears a lot of hats.
But we were chit-chatting about it. So this raise puts them valued somewhere around $160 million.
Then if you start to do your speculation, your fund, hope you have math.
If you think Paradigm's looking for a 10X bet,
they're projecting a $1.6 billion target, then what would that mean for MegaEth?
And then if you're in the camp that MegaEth would be valued perhaps
as a sum of its apps, which I think is what they're
kind of pushing,
the message they're pushing for, you know, versus TVL or other aspects.
So something to potentially consider, I think the NFTs,
those mega ETH sold by NFTs were at a $500 million valuation.
So perhaps those are worth a bit more on paper right now but but we'll certainly see of course we're gonna need some some more apps than a handful but this was um a big one
over there for meggy so we'll continue to follow like to see some action there
logan the story that we wanted to talk about yesterday that we didn't get into it, maybe we can revisit it today quickly was what's been happening with these
NFT projects and these telegram sticker sales,
because we're seeing some pretty bad numbers here.
Yeah.
So telegram has been sort of leaning into this as a protocol for a while,
but I think the leading sticker shop launched in like December or something
like that. And then in January or February,
telegram made its gifts,
not GIF,
but gift with a T,
the little things that you can pass back and forth.
They made those NFTs as well.
so just further kind of integration of the messaging app and its use and
features with sort of the open network ton right
uh and the blockchain and people have just uh definitely definitely leaned into it the board
ape one from the other day i think it was the one that really got this on people's radars but there's
a whole handful as you're showing in in the screenshot here like there's a pudgy penguin
one i think there's an azuki one um and there's a bunch and the stickers themselves like they're
not going to blow you away you're not seeing like absurd price appreciation on the stickers themselves to the you know 20 30
thousand dollar type like randomness we're seeing with nfts right um but they're no joke i think when
i checked yesterday in preparation for talking about this like the board ape one uh the the
like cheapest sticker was like 46 ton which i I think is like $90 or around $92.
Pudgies might have been a little bit higher than that.
Quite a bit for stickers.
But you recall, I mean, this got some love.
Even aside from this, you remember like Sofamon, right?
Do you remember that company or not?
Briefly, I couldn't give you the pitch for what they did.
Well, I think it was very much telegram stickers
It may not have been just telegram stickers
It could have been messaging app stickers
I don't know the exact one either
And I think they may have launched or done some stuff with Blast
Perhaps lost in the shuffle somewhere
But I don't know
This is an avenue that people and collections are rightfully taking advantage of
At this point in time because people want to trade them.
Was that close to $10 million in volume you had up there?
Yeah.
And then, you know, even on the, this is not sticker specific,
but on the Telegram NFT side,
there's some NFTs that have been running up as well.
In my timeline, from time to time,
you see like talk about those plush Pepe's.
There's like rumors that Luca bought one.
I don't remember if that was ever verified or not,
but those had breached, you know,
kind of the five figure, you know, $10,000 plus thing.
So when things are boring,
which they basically are right now,
you get these pockets of outperformance and manias.
We saw with ENS, you know, we see it all the time.
That's what this feels
like i don't know exactly how sustainable it may be but this feels like that pocket of just interest
for the time being so are people so is there a secondary market like i saw people are kind of
trading these yeah yeah so they're like bots inside telegram just like you would do with uh
you know like a trading bot coin a lot of mean coins. It's a little more intensive than that.
It kind of like pulls open like a UI for you to interact with.
But yeah, it all happens right inside Telegram.
So, I mean, it's really easy to do should you wish to, you know,
experiment with it.
And then of course, like I don't send a lot of stickers really in Telegram.
But I know some people who do send a lot of stickers.
And if you're looking to enhance your chat experience,
then I guess it makes some sense to add some NFT stickers to your cart.
Well, I mean, stickers can be fun, right?
Sending memes is a fun thing to do in a group chat.
I'm looking at some of these prices right now.
Yeah, I had already seen this.
So these Pudgy and Friend Pingu Baby Shark stickers
are at $764 floor right now.
That is wild.
This other Pingu Cool Blue is $390.
Pingu and Nascar at $260.
I think my takeaway when I saw this
is NFT products are continuing to find ways to monetize
four years out from launch,
at least some of the bigger ones.
Yeah, the best ones.
Yeah, I mean, not to knock any that haven't done it yet,
but you take a look at this list,
it's the ones that are still here,
that are still doing stuff,
that are still in tune.
I mean, no offense to anyone,
I wouldn't say Doodles has the most diehard community in NFTs,
and they've got half a million in sticker sales.
But it does have one of the best, in my opinion,
one of the best collections for something like this, right?
Yeah.
Like super great art, super great colors, super great.
So it actually makes a lot of sense to me to see something like that up here.
Desi Klaino's are on here, same sort of mold.
Full disclosure, that's like my – I don't own any assets in either of those ecosystems, but I love those colors.
So I'm a sucker for it.
Quick side.
That's exactly where I was going with that.
I think rec stickers could do quite well.
Logan, I know you're a Doodle fan, so I'm going to share this for you.
I don't know if you saw the Doodle Opepins set.
Did you see this one?
It looks like it got to consensus, so this one might go.
My lone disdain for – disdain's too weird, too harsh of a word.
This is a little too close to the...
You know what I mean?
Those are a little too close to the replicas,
two replicas of doodles,
in my opinion.
Yeah.
But I love the color schemes and stuff like that.
Actually, I really like that.
The one of one there looks really, really nice.
I'll be honest.
If you showed this to me quickly,
this bottom right one,
and asked me if this was an original Doodle NFT,
I might have said yes.
Yeah, it is fairly close.
But that pudgy set has done quite well in the Opepins.
So actually, I think this one will probably do pretty well here as well.
I think we went through the list.
We've got five minutes left in the show.
I know we're going to do double yeet action.
That's going to take a little while.
Yeah, that was the end of my list, so if you guys are ready,
maybe we get into some yeet here.
The code is yeet today, folks.
You have another minute or so to get in if you haven't entered already.
And we are going to get into some spinners.
Give me one second.
Okay, this should work.
The yeeter boards. Let's spin the wheel. the heater boards
let's spin the wheel
there's a zoom
I like the zoom
alright 96 entries
who do we got
forward a long run
so I need to
really quickly check
I know they have won
somewhat recently
give me a sec because I'm on
working multiple screens here
I'll close that
just make sure
we'll do another
I'll spin another one while I found that up as well.
All right, so we're going to do our second spin.
Yep.
All right, who we got?
Michelle Gunn.
Mitchell Gunn.
Michelle Gunn.
I have not seen that handle before.
No, never have I.
So it was for the long run.
That should be a clean winner there.
Go ahead and request.
For the long run.
If not, we can see them also.
It's not working today, isn't the chat for one reason?
For the kick chat, it went down for some reason.
But we can still see them in the other side.
For the long run is approved.
He did win on the 16, so it's close, but he is in.
And then Michelle Gunn, I've never actually seen before.
Michelle Gunn, go ahead and request if you're in the space
so we can get you up here.
If not, we'll just check that they're in the kick space.
But a long run.
Oh, Michelle.
So I see Michele messaging us.
In the chat?
Yeah.
That's fine.
We're going to do Plinko today for both of them anyway,
so as long as they're both on, we're okay.
Awesome.
So we'll get Plinko loaded up here quickly.
Ford Long Run, you're in the space.
You won.
GM, how are you feeling?
How's it going, guys? Good morning. Congrats. You won. GM, how are you feeling? How's it going, guys?
Good morning.
Congrats.
You're running hot, my friend.
What game did you play last time?
It was Coin Race, yeah.
Okay.
All right.
We'll have some fun with Poinko.
Poinko's still my personal favorite.
I like Poinko, yeah.
So Sims, are we doing $5 balls, $100 balls? What are we thinking today?
I'm open to it. What do you think, Lance? What does everyone fancy?
I've got $500 to spend. How do we do it?
Yeah, so quickly, you both have banked $500. You're going to walk away with that at a minimum.
I like the $105 balls because you get the most chances for the 1,000x.
Yeah.
I see that.
$105 balls.
All right.
Let me just make note of how much is in the account so we can count this up.
So first, for the long run, we'll go first.
And then the Chili.
Two, six, one, four, point, zero, seven.
Right. Let's go for it then. Auto bet. $14.07. Right.
Let's go for it then.
Auto bet.
$5.100.
All right.
So this is for the long run.
Up first.
For the long run.
Up turbo mode.
All right.
Turbo.
Turbo.
We're going to be here for a while.
I put it on turbo.
Oh, shit. Well, we'll go for it now
the next one will be faster
stop the auto bet
and start again
is it going to be here a while
yeah
stop the auto bet
stop the auto bet
and then just make it
yeah
I don't know how many balls
I've dropped that's all
turn turbo off
oh 69 of course yeah yeah yeah wow do you leave turbo on or off I don't know how many balls have dropped at all. I'll turn the turbo off.
Oh, 69, of course.
Wow.
Keep turbo on or off.
Keep turbo on.
And go.
Yeah.
All right.
Now we're back.
All right.
Here we go.
Now we're moving fast.
All right.
Oh, go left. Big numbers.
Oh, hit a 9.
Another 4. Another 4.
Another 4.
Still have 4Xs in there.
So do we know what we...
Roughly 500 again.
Yeah, it looks like you roughly broke even.
So you're going to walk away close to $1,000 today for the long run.
Congrats.
Not bad, not bad.
Thank you, guys. Not a bad little Tuesday morning for you the long run. Congrats. Not bad. Thank you, guys.
Not a bad little Tuesday morning for you, my friend.
Thanks.
Thanks for listening, as always.
All right.
Machili, I still don't know how to say your name, but you are up next.
We're going to run up the same for you.
$105 balls, light speed, turbo mode.
Sims, are we ready?
Oh, I thought that one was going. $5 balls, light speed, turbo mode. Sims, are we ready? Ooh.
Oh, I thought that one was going.
Ooh, 4X.
A lot of 4Xs there.
Oh, a 9.
A little 9X hit.
Come on, we need to go right or left here.
Go right.
That one came in a little closer.
So that one was a little less.
Probably closer to like an $800 win.
Yeah, something like $700, $800.
Still decent for both people, though.
Like $800 a pop, near enough.
Give or take.
Love it.
So we will coordinate with both of you after today's show.
As for today, that is going to be it, folks.
Thanks.
I want to thank all of our listeners for joining us.
I want to thank my co-hosts.
Thank our partners, as always.
We will be back tomorrow at 10 a.m. Eastern.
Until then, go make it a beautiful day.
Goodbye. Thank you.
