GM, GM. Thank you for joining us here this morning. We're going to start this show here in just a few minutes. We'll give it a few for folks to filter in. Get our speakers up on stage while we wait. Here are some tunes.
Good morning and welcome to the Lucky
Today is Tuesday, April 25th. It's macro Tuesday. And we've got a full house here to join us to break everything down. We've got some bombshell news last night out of Coinbase. I'm definitely excited to pull back a little bit today. Talk a little more broadly.
about crypto, about the economy. My daughter is homesick, so we will see if she chooses to make an appearance on the show this morning. So that's a fun little wild card. I see some friendly faces out there, Hunter, in a T-Shark, Husker. Thanks for joining us. As a reminder for any new
new listeners out there. We run the show every weekday Monday to Friday at 10 a.m. Eastern. It's a 30 minute show covering all the major news and crypto, web three and NFTs. The show is meant for those interested in discovering the space, those actively buying and selling in the crypto and NFT markets and those here just doing research.
I'm joined by my amazing co-host and we do indeed have a full house here today. We've got Emily loves crypto a web 3 security expert and co-founder of the foolproof app. We've got Logan his cock editor and chief over at Lucky Trader. He's reppin the Lucky Trader account. We've got ghost cops.
content star over at Lucky Trader quietly, a whale NFT trader rock and a Nakamego PFP. Today we've also got Peter Jennings with us. Lucky Trader co-founder founder of several companies, including successful sales of two. He is our resident macro expert. Peter, good morning. How you doing?
Good morning. I'm doing well. Far to here. The kid of sick. We've been dealing with sick kids at the house too. It's never fun, but excited to chat. Crypto and the economy and here in D.V. has been up to you. Excited to be with Ghost and you guys. So Emily, it's good to see you.
Yeah, excited for the lesson. We're excited to have you along with D's. D's is back. It's been a few weeks. We're super stoked. T is the director of vibes for Tessera and Escher at one point was the director of vibes for the entire NFT space. We love having them back. D's GM. How you doing?
GM GM. Yeah, it's been a minute since I've been here. I feel like this is the first Tuesday. I've been at home in my computer chair in like six weeks. So glad to be here. I'm sure it's nice to get a little bit settled and off the road and sell into the new place. On the docket for today folks, we've got a stock for show.
So we're going to start with Coinbase coming for the SEC. Some debt ceiling concerns along with other macro, US economy talk. Then we're going to pivot talk some upcoming art drops from Grant Yoon and Alpha Centauri kid. We're going to hit this potential air drop situation with lending platform NFT by
And then at any time at the end we're going to catch up with D's regarding his NFT NYC reactions and how Esher has been chugging along before we jump in goes if you want to read off a few housekeeping on his force. Yeah, as always if you enjoy these shows Tyler does a great recap of the NFT market every day in the morning, and newsletters so we've got that pins of the
top, give that a subscribe if you haven't already. And then a little other housekeeping there. We launched our AI product LuckyLens recently. It's powered by GPT4, basically chat GPT for Web3. So check it out if you want beta access, like, retweet, and comment beta on the announcement tweet, which we will pin so top as well. >> Goose, thank you for that.
Let's get into it our top story coin base suits the SEC Brian Armstrong and coin base are tired of the SEC playing games and now they're taking them to court last night. We got the bombshell news that coin base has officially sued the SEC the reason for the lawsuit to force the SEC to respond
to Coinbase's prior request for clarity on crypto regulatory guidance, stemming back from July 2022 when Coinbase initiated the request. The TLDR of this situation from Paul Griebal, who's the chief legal officer, Coinbase, Coinbase is filed
and federal court to compel the SEC to do one simple thing, respond yes or no to Coinbase's pending rulemaking petition that asks the SEC to provide overdoant guidance for the crypto industry. So a quick list of a few other additional details. The administrator procedure actually requires the SEC to respond.
to Coinbase's rulemaking petition within a reasonable time. So they failed to do that. Coinbase is not asking the court to instruct the SEC how to respond, but simply to order a response at all. Which again, they are legally obligated to do. And then more than 1700 entities and individuals have submitted comments to
Coinbase's petitions echoing this request for clarity. So Coinbase certainly not alone in this request and the SEC obligated to respond by law. So it seems like they should be in position to win and force the SEC's hand here. Quickly, my thoughts on why it matters, then I want to hear from Peter.
and other, certainly the crypto industry, especially in the US, has been in flux since the FTX disaster. We've had crypto companies effectively debanked. There's been talks about every major crypto token being a security and there's just levels of broad uncertainty across the board. The lack of clarity and
in the crypto space and certainly some basic guidance from US regulators like the SEC would go a long way in calming fears and taming uncertainty if nothing else. So those are my two cents on why it matters, but Peter, I'll tell you up here first. Curious for your thoughts and reactions to this latest news from Coinbase.
Yeah, I know I'm happy to see it. It's very clear that there's a war on crypto here in the US. A lot of prominent podcasts and people are talking about it. Brian Armstrong has been kind of leading that charge. They recently talked about it on the all-in podcast.
And yeah, obviously I think a lot of people in here probably saw Gary Gensler testify and when asked to, you know, say of Ethan's security or commodity, he just kind of wiggled around and was super vague and didn't give.
I think that uncertainty combined with the fact that he's going to have an issue in Wells notices and you know, being very aggressive and trying to be the sheriff in town without providing transparency is causing a lot of problems and going back
has been the epitome of a transparent company trying to act within US regulations. They're a public company and they've been very transparent, but they want to comply and they want to be the definitive exchange that's doing everything right
in the US and they're just not getting the transparency and the guidelines that they need. So I think this is a really good move. It'd be really unfortunate if they did have to move offshore ultimately and yeah it's frustrating to just kind of see this behavior
year from a lot of different individuals in the government. America is founded on freedoms and we have a vibrant economy founded on capitalism and it'd be really unfortunate if we fell really far behind in crypto which is something that I
all of us believe in. And you know, Coinbase has made some really big moves and I think this is good for the industry overall. But, Terri's to hear others' peoples perspective and certainly happy that they Coinbase did this. Yeah, I'm with you. I want to hear Deez's thoughts here in a second as well.
I think a couple takeaways. One again, it's just so frustrating to see that the US government, you know, trying to, you know, just just operation choke point kind of go after crypto just for the political agenda here while the rest of the world starts to move beyond us. It's been so frustrating to see.
On the other hand, I feel like Coinbase has become a clear leader in the pro crypto space in the US. And I think their sentiment is as strong as ever from those in the US crypto space. So I think it's been positive to see, but Deezam, I'd love to get your thoughts on this as well.
Yeah, I mean, I'm just glad one of the big US companies is sticking up for us in the whole space. I haven't done a ton of research on it. Actually, I just minted one of these shields. I don't know. I didn't read the thread yesterday. Just reading it right now. But yeah, I mean, I'm just glad that one of the big entities is
willing to do something and bearish on the US and the way that we continually hamstring ourselves as a society by trying to regulate this shit in a stupid and unclear way. And the octogenarians up at the top are not helping the cause.
right now. It looks like we're in for more in the 2024 election cycle based on. Oh man, that's a whole nother space. Talk about that. Yeah, I know we could we could do a full hour or more just on that topic. We'll save that maybe just quickly on crypto price action.
Peter, I think we talked a little bit last week. At least on the show, I'm not sure if it was with you about Hatt has crypto topped. Certainly we've seen a pullback from Bitcoin 31K down in the 27,000 now. So a full 10 to 15% pullback.
think some of this uncertainty is the driver here? Is it more just macro US conditions that's driving the pullback? What are your thoughts? Oh, looks like we may have lost Peter here. He's coming back up here. Why would get Peter back up on stage? These maybe I'll tee you up for the same question
have you been following crypto price action have been making any moves and any thoughts on kind of have we tops here locally from your perspective what are your thoughts? Yeah, I mean I didn't position my portfolio strongly because I don't really have a strong opinion
in here, mostly very comfortable holding some eith that is being staked and in general just employing this dollar cost average strategy. So I'm just kind of not really trying to time like, oh, I think it's over 2000. Let me sell that type of stuff. I'm just kind of stacking a long term back
that makes sense. You actually posted, I think it was a question on Twitter, what was it yesterday regarding, if you are holding a long-term eith bag, why wouldn't you stake? Which I thought was an interesting question. So I'm curious, what were some of
the stronger responses. I saw a couple, you know, one maybe from my C's where it might hamper your ability to potentially time a top cell. There also might be folks who aren't as comfortable with the tech, but I'm curious. Did any of the responses kind of sway your opinion or what was your read?
Uh, the responses are kind of what I expected. I just threw that out there to see if there was anything I wasn't accounting for. A lot of it was just, I don't want to spit up my own node to lazy to learn how or I don't want to trust Lido or Coinbase or another big entity to stay.
big for me because not my keys, not my ability to gamble on adjective animals. So those are the two big main reasons that came up over and over again. For me, I just threw all my shit in my pocket. Yolo.
very sporadically seem to move large chunks of money in and out of these farms. I was in UST for a few months, pulled out before it collapsed luckily. And then there's been a few times like that where I've had money in places that have got compromised after like FTX and stuff.
I hope that doesn't happen for Lido, but we'll see. I want the yields. I'm a greedy motherfucker right now. If I think ETH is going to go up over the next couple of years and I can be earning enough to pay like two of my mortgage
is off the yield. We're going to we're going to fuck them stake it and see what happens. Yeah, that makes sense. So I would be positioning similarly in your shoes, go stuff. I want to get your thoughts and then we'll go to Emily. Yeah, I mean, I think it's been so frustrating to watch the Gary Gensler stuff, especially when you see like someone like the
So it's all just such a shit show, but I do think we've said this before. I think Brian Armstrong and Coinbase are such a good representative for the country as a whole. And I really liked the the NFT that he minted yesterday that was like the stand with crypto shield. And he did it from like standwithcrypto.eath. And I think that's like a really good rallying
and cry and we always talk about the tribalism and NFTs and stuff, but we're all really just one big crypto community that we're fighting against a bad actor who wants to kill crypto right now, so I think this is a really good unifying rally here. - Would love to see folks get unified here for the cause. Emma, I'd like to get your thoughts as well.
Yeah, I think it's, I think it's really interesting how fast Gary flip flopped from when he had F.T.X behind him in like supporting crypto to no longer wanting to be involved in it. And I'm not sure if it's got more to do with like a personal preservation thing where he
feels like he deeply messed up or if it just has no guidance whatsoever to go on that he wants to follow along with. Sorry, I'm still like super sick.
I feel like he's really highlighting his own incompetence in this case and it's going to not be long lived as far as his position in the SEC goes. It just does not seem like the type of thing that someone can
can not make decisions on for this long. So I don't know, hopefully the US comes out ahead of every other country is pulling well ahead. And I think the importance of crypto has a lot more to do with the importance of blockchain technology than the currencies itself.
And the technology is what's going to carry us farther. And if the US misses out on that, it's going to be a, it's going to eventually come down to an issue of national security, I think. Yeah, that's a really strong point. And we do get caught up on the show just talking
price action a bit more than the underlying tech. But that is certainly what matters the most here. So I'm right there with you. Peter, I think we got you back up on stage before we lost you. We were kind of starting to pivot to a little bit of price action.
and maybe back to the economy. So we've seen crypto fall off about 10, 15% from local tops. Curious is this tied to crypto uncertainties tied to concerns in the broader market and then maybe just kind of opening up to your other thoughts on the economy right now.
Yeah, it's hard to say. I mean, I certainly think we have a huge run up and you know, there's just volatility in crypto, just the nature of risk on assets and new scene, some volatility, just general risk on assets overall. I think one of the really interesting things that I'm watching closely
is the US debt ceiling. We've never had an issue. It's always come down to the last minute, but we've always raised the debt ceiling and never had issues. But it's certainly more interesting time than in the past, where there's just so much polarization and different political
views and you know it just seems like we're kind of right for a situation where we actually could see an issue there and then all of them actually had a tweet maybe three or four days ago highlighting the difference in yield between the one month treasuries and three month treasuries and really the only reason there would be a delta between
those two rates. The one month was lower than the three month rate and basically a lot of people are theorizing that there's an adult there because there's concern over the debt ceiling and that could bring in a ton of volatility if you know we see issues
there. And my guess I think the base case is that it normally goes where there's a lot of negotiation and people on both sides trying to push for one thing or the other and that will end to give in and then at the last second the debt suddenly gets raised. But if something does go
ride there, it's certainly something that could be really, really impactful in terms of the markets. And the US has never defaulted on anything, so I just curious to see what kind of happens there. But yeah, the crypto stuff too. I don't know how much regulation plays a role in it, but it's certainly, you know, again,
So there's a appearance didn't inspire any confidence and yeah, I'm hopeful that his I hope I'm hopeful he's had the SEC here soon I agree and appreciate your thoughts on the debt ceiling I did a little bit of research on that last night in prep for the show So that just the quick deal to you know as I understand it the current crisis because
again January 19th, US hit the debt limit. Treasury Secretary Janet Yellen informed the House of Senate implementing extraordinary measures in the Treasury to try to address the situation. And it looks like timing wise, the government will begin to faulting on debt starting
time between early July and early September, if the debt ceiling is not raised. And then the government would be forced to impose budget cuts totaling around 5% of the size of the American economy to meet some of this debt. So certainly a very important situation to be watching here. And they
Thanks for introducing it for us here, Peter. I want to move on, switch gears, talk a little bit about art, some upcoming major drops on the radar. But before we do that, let's read the news. Today's Top Headlines powered by Lucky Trader. Train volume was around 12,000th on Monday to lowest recorded since January
where OpenC Pro capturing 6.6% share blur, holding about 56%. NFTs were down slightly on the low volume day, mostly down 1 to 3%. Nike and artifacts forging event officially began yesterday with holders of the limited edition digital Air Force 1 sneakers able to redeem for physicals.
NFT 5 hinted at a potential airdrop yesterday in an announcement in a teaser video saying summer starts tomorrow. We saw a new announcement breaking this morning. It looks like it is a new rewards program with the potential token kind of hidden in the messaging. And I want to talk about that briefly here in a minute.
it. Some other headlines. Killabairs launch the CUBRIO incubator allowing killacubs holders the chance to evolve and customize their Cubs through eight incubation stages. The Adidas Allt Universal key holders were able to use their keys and initiate the trade selection process by selecting a room starting yesterday. The NBA Top Shot
redemption window opened on Monday with the Nets and 76er player moments from Embi hard and maxi bridges claxon and cam johnson able to to be redeemed for the first playoff moments in that new series. And then the camp high pandas partnered with karate combat for a year long competition with a billion karate tokens up as a price.
Those are the NFT headlines around Web 3 and crypto crypto down a bit more Monday Bitcoin even at 27,400 each down 1% at 18 20 each now has officially given back all gains from the Shanghai rally the the dose coin Twitter account seemingly chirped at Pepe and other meme coins on Monday chart
trying to establish its dominance, even though Pepe did fall 9% on the day to a $105 million market cap. Then the floor app is adding Solana NFTs to its wall tracking platform launching on May 8th and an app invite was extended to some top Solana NFTs collection holders. Those were the headlines that I saw a ghost, anything else that
dollars that was early in NAC Amigos. And I think it ended up, it's actually a scammer, but it kind of larps as a congresswoman from a South American country. But a lot of people were blindly sending money to this private address for this meme coin, and then of course the project rugged, but I guess they backtracked after they got
exposed and wanted to send it back and then Zach XBT was helping them kind of facilitate that and then they ended up sending a lot of people double the amount that they paid. So it's just all craziness and then he has a tattoo on his back of his finance like deposit address. So just absolutely wild. I'm curious to hear if D's has any thoughts on this because it was pretty funny.
It's the dumbest thing I've ever fucking seen. I don't understand. If you're going to get an address tattooed to your body, why would it not be one that you own the private key to and control? Why would it be your deposit address that an exchange can change at any moment when they feel like updating their system or security? It just seems absolutely fucking stupid.
But it kind of in a way made me more bullish on not the megos because if that is like some of the holder base is that stupid then maybe we can keep buying these for point two and sell them after a people tweet at point three five over and over and over again. Zach, Zach had a tweet that said,
original sentence in the sweet said, "Nachamegos has just flipped the Bordea API Club as a collection with the most zero IQ holders." We're number one baby. "Nachamegos just cementing themselves as the left curve project by far right now leading the way in Rug Coins." Anyway, I gotta get your thoughts on this.
Okay, on the conversation stupid tattoos. What about this creepy eyeball? See that right above it like I don't know that guy is not Presenting himself as something to make good decisions that much is clear. It sounds like your dog agrees Ghost was there any other headlines. We saw you good delay
the heavy metal reveal? Was there anything else on your list? Yeah, we saw a couple big sales. We saw two trippy ape, trippy skin ape sales, both over 200 teeth, which was nice to see a gold bean sold for 30 teeth, I think today. And then 25 to gods were swept for 200 teeth. And that was apparently not a
a wash trader or trying to blur farmer anything like that. So good to see some organic big sweeps there. It's sad that we have to kind of make that asterisk note that this, hey, this is an actual buyer and not just a blur farmer which are doing most of the sweeps right now, kind of a sign of the times. Just quickly, so
So, Doug, a little on this NFT-5 rewards program, kind of hidden in the messaging, this is a quote, this is not an offer of tokens or securities, reward points are at present not redeemable. They are planned to be redeemable for blockchain tokens at a later point in time.
for eligible users. And then effectively anyone who used NFT5 or NFT loans ahead of the snapshot should have a reward point balance. To me, it feels a little bit like the hell blur did their air dropper or token claim. So I am cautiously optimistic.
as an NFT, if I user that we might be in for something similar, although I'll have to leave the country to be able to claim that one as US is banned. Unfortunately. All right. Let's get into our next topic. We're already kind of running low on time. Arguably the most anticipated drop of the week is from star artist, met, student, break
answer Grant Yoon and his the road ahead. We knew part two of life in Japan series was coming this Thursday. Now we know a little bit more. So the details at Thursday at 6.30 p.m. Eastern on Nifty Gateway. The size is 12.99. The price is $200.99.
dollars per piece limited one per collector. Holders of life in Japan won will get early access as a 10 minute window to meet public starting at 641. First come first serve. This also comes with a burn mechanism where holders of both his school and apartments piece and in this new the road ahead will
had the chance to burn them to create a unified addition of the two pieces side by side. So, D's, I haven't had a chance to talk to you about an art topic in quite some time, but I'm curious for your thoughts on this one. If you hold any grant, you or thoughts on how this one might play out, I'd love to get you to take.
I have a couple of larger editions. I don't have anything crazy from Grant. I was pretty late there. I think this will probably sell out pretty quickly. I think it'll be something that does well in this market. It seems like it's getting a lot of hype and attention. So yeah,
I mean, I don't really have any other thoughts, so it'll probably go well and grant and if you can, we'll be happy. Yeah, that seems to be the sentiment here. So just based on some back in the napkin math. So school and apartments is first life in Japan. In addition, it's 374 supply. It holds a 3.1 each floor.
If you assume a similar market cap, which of course isn't going to be perfect, but it gives us some directional awareness. The expected price for this new one would be around 0.8 ETH. So at $299 meant price, we're talking about 0.15, 0.18, or something ETH, to mint this
this one, it feels like it should be at least an easy 2x out of the gate. The question is, I think the larger question is, will the market be able to support such a relatively large influx of additions into
grants kind of addition economy here. This will be by far his largest addition. I think that the pro side is that it's providing collectors with the now cheapest entry to get a piece. But again, 1300 is quite the
influx here. So I'm curious how this will be. Yeah, I guess it definitely depends. If you look at his other work, there's meme factory, which is a 615 I heard there's 14 20 meme factories in the floor on that is 0.266. So I would anticipate, you know, that is kind of a rough baseline. Maybe the floor on this goes like
point three or something. But there are that is his biggest addition so far. And then both besides that, it's just schools and apartments. Right. And then this whole burn will be interesting as well to see how many folks do that. If it does then kind of slash the addition count for school and
What's kind of interesting, like if you have the two earlier editions and you burn them, like it might be better to just buy the third edition from secondary immediately and keep the two base editions without burning them, I don't really. If I had the base editions, I think I would
keep them and not burn them. I like that strategy as well. But I don't provide you a little bit more options. I don't know how many more presence we have that OXT Joe did something similar. I'm blanking on the names of those pieces, but it was kind of a left and right image of a male and female character.
And then he had you had the ability to to burn to get them together, but then they kind of went a liquid almost immediately after that burn event. So it's been kind of hard to speculate on how it impacts the price. Um, we should expect. Yeah. And there's a good lesson there, right? Like, don't do this shit. If you don't like the art, like if you're doing this to gamble, like you maybe shouldn't be#
it because it is a liquid. There aren't going to be buyers after liquidity events like it. It's just getting into this arena to try to make a flip because you're not going to be going or who's looking for a bag because you just lost three eith sending it to some random strangers address is just like not the moves at all. Just love that we're throwing that can make us homeless into every
I had to do that after yesterday that I can't believe it's true, but it is. No, it's true and it's well deserved. So that the Nakamegos fam is just going to have to deal with it here for the near future. But hey, it worked for for board apes, right? They got memes into pop
culture via their giving away their seed phrases on daily basis. Quickly, we're not going to have time to do a deep dive. Have you taken a look at Alpha Centauri kids, the broken keys collection coming sometime in the next few weeks? I'm curious if you have any initial thoughts on this one.
There's a few of them I really like for the people who have no idea what we're talking about. If you go to ACK's Twitter, he has a pinned Twitter thread of a bunch of different piano type images. Yeah, I'm excited. I don't know if I'll be able to get a full set or not full sets are pretty
on Alpha Centauri Kit as an artist and having a decently long career here. I think this is going to be an important collection in his career arc. And the art is pretty damn cool too. So 50, effectively one of one, piano based pieces.
with different scenes and backgrounds and whatnot. So we'll cover it more on the show as we get closer. We aren't almost out of time at D's. Maybe just give us a quick 60 seconds. You spent a full week in New York City for NFT NYC. I'd love to hear just a new year take a
Yeah, I spent 75% of my week in an Airbnb doing podcasts, so I definitely don't have the experience that a lot of people have. My experience is just going out to dinners and galleries at night and fading most of the after parties. Had a really good time, spent a lot of high signal time with people I care about. Sadly, dinner
it get to see a lot of people who were in New York because we were doing this podcast schedule. But for me, it was probably the highest signal event in terms of how I personally used my time and the people I got to interact with. And that's kind of been the theme of the last month, like Denver, LA, Charleston, and now New York, every event has just been
pretty high signal, good amount of people who you think are going to be around at the next event and not just people who are coming up to you to waste your time to try to extract value from you, which is always nice. That's good to hear. I just hear how are the vibes, how are the folks that you're talking to and interviewing and doing podcasts with? How are they feeling?
good. I mean, we talk to a bunch of artists and they're not slowing down creating art anytime soon. They're using at least some people that we talked to are using this time to kind of recalibrate their expectations and maybe work on some longer term things or do things a little differently with additions and whatnot.
Overall, it was just a lot of people excited to be there, to be around each other, to talk about the things they love. And there wasn't really too much doom and gloom market talk. That's always good to hear. And certainly, I don't know that I interacted with as many artists and collectors as you did.
But that's the similar vibes I got is the while NFT Twitter and crypto Twitter can be all doom and gloom and number talk When you talk when you talk to people in person that's not the vibe at all and people are still really excited and fired up about creating in this space So I think it's nice to be reminded about that
And that is also the beauty of some of these live events. So definitely encourage folks to try to attend ones in your local geo if you can. All right, well, we are out of time here. It's been a great show today. Before we close, that's not the right one. Before we close out today, what is minting?
We've got a few drops today. We've got Zeevers Soul Sharts. We've got the Zeevers Genesis Loop Hots coming at 6.30 PM Eastern. We've got Drowp by Nicholas Sassoon, Seen on Screen coming at 4 PM Eastern. And then those NBA Top Shot Redemptions again have went live. Today likely going to be one of the
slowest days in recent memory. The main set of meds on the counter again from Zverse. That's a monster tamer in M.O. RPG. I don't know a ton about that one. The other main drop against from Nicholas as soon from drought. It's a long form generative digital fashion collection, but it's not going to be cheap price
around 0.4, 0.6 for 648 entities. So if you're in the digital fashion, generative collections, take a look at that one other than that, expect another day of low volume unless we see some unexpected surprises. Alright folks, that is it. That's our show for today. We'll be back tomorrow at 2NM is evening.
Thanks to our listeners. Thanks to my co-host. Thanks for Peter and Dees for jumping on. Everyone enjoy your Tuesday. Let's make it a great day. Bye everybody.