GMGN. Thank you for joining us here this morning. We're going to start the show in just a few minutes. We'll give it a few for folks to fill to ran, get our speakers up on stage while we wait. Here are some tunes.
♪ Yeah ♪ ♪ Yeah ♪ ♪ Yeah ♪ ♪ Yeah ♪ ♪ Yeah ♪ ♪ Yeah ♪
Good morning and welcome to the Lucky
lead. Today is Friday, May 12th. It's casual Friday. And you know what that means? Logan goes to myself, we're taking the ties off today. We're loosening up the segments. You want to come join in the conversation? Just raise your hand. We'd love to have you up on stage, shaping up to be a
beautiful weekend here in Chicago. It's Mother's Day weekend. So this is your reminder, go get something from mom if you have not done it already. Just do it. Do it while you're listening right now if you need to. We don't mind. I see some friendly faces out there, J.Web, Hunter, Alex. Thanks for joining us.
As I remind of any new listeners out there, we run this 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 3 and NFTs. The show was 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 your host Tyler D. I'm joined by some amazing co-hosts here today. We've got Logan Hitchcock, editor and chief over at Lucky Trader, rep in the Lucky Trader account. We've got ghost content star over at LT, quiet well, dipping his toes in AI but still hanging with the NFT crowd and rocking the knockout
And then today we've also got CT. She's a writer and producer for Web 3 companies and also our resident Bitcoin NFT whisperer CT. Good morning. How are you doing? Good morning. Doing awesome. Just got to the coffee shop and gonna try and you know get to stay started with some caffeine and
I'm hoping it's some some bullish energy caffeine in your coffee here this morning. Feeding off of your hyper bullish Wednesday takes so expecting more of that. We'll see if Emily joins us hopefully she does. I've got a, you know, I want to wish her a happy early Mother's Day. So I think
I think she'll probably be with us here shortly. On the docket for today, Paris Bays, the scandal is getting worse. Coinbase gains an ally. Crypto's falling. Moonbirds are making playlists. Alpha Centauri kid has had a big week plus all the news. Before we dive in, ghost, any housekeeping items for today?
Yeah, as always, Howard does a great recap of the NFT space every morning in the morning, mid-newsletter. So we've got that pins at top. Make sure you subscribe. He's working his ass off. Let's give him some subscribes there. And then we just recently sent our second edition of the AI Authority newsletter this morning. So check that out. We'll pin that to the top and give that a subscribe if you're interested in that#
All right, well we got to dive into this paris space controversy scandals. It is getting wilder by the day. So I'm going to start with an overview of the situation and we'll open it up to the panel here. So I'm there. This is a pretty major scandal now brewing and one of the anti-marker
It's Premiere NFT 5 protocols in Paraspace and it feels like the Yuga ecosystem might be hit especially hard here, but the impact might go to the entire market. So basically what happens? So back on March 17th of this year, Paraspace was hacked due to a vulnerability in one of its smart contracts.
Long story short, the hacker didn't use enough gas, their transaction failed, and a white hat was able to recover about $2,900 each. So $5 million US dollars and returned those funds to Paraspace. But this is where things get interesting. So the team now claims that CEO Ryan
When Ubo kept over 50% of those returned funds for himself, he has allegedly refused to comply with the team's request to return the funds and step down from his role as CEO and CTO. Now 19 team members have formally come out and accused him of misappropriating the
those funds. So from these hacked funds, now over a million dollars has outflow has outflow into various wallets such as essential exchanges, circle redemptions that the remainder of the user funds are deposited in an account on parispace itself. The team says they've
secured the protocol's multi-sig and removed Ruin Ubo from the multi-sig though that's a little unclear how they're able to do that. But the reality of the situation is there's not enough recovered funds to fix the whole in their treasury. So the assets don't seem as safe and secure as the
protocol once promised, but then this got even worse yesterday. So the Paris-based team announced they were going to use Zinnika to moderate a private meeting between the team and UBO. It being a private meeting caught some backlash from a very transparent focused Web 3 space.
going to turn it into a Twitter spaces. So it would be public. And everyone could listen in who wanted to the problem. You both didn't show up. He didn't come to the meeting. So this led to the pair space team issuing a response this morning, outlining their plan forward and how they want to transfer the multi-sig away from you
Overall, over the last few days, their holdings are now down to 60 million. I'm sure they're still dropping actively during the show. A few notable highlights. So the board apes applied down from 846 to 421. So 50% drawdown in the board apes. Mutants with from 1774 to 949.
down 47% other deeds from 683 to 361 down 47% and then there's staked 8, staked 8 coin down from 15 million to about 9 million. So down about 40%. I think what was eye opening for me is I didn't realize how much of the supply of board apes and mutants were locked in
this protocol, well now they're unlocked and it's about 4% of the overall supply. And I'll say it couldn't have come in a worse time. I mean, there's definitely a bit of panic in the NFT market we're seeing prices continue to fall. And now a potential influx of supply is perhaps coming
on to the market. So that's the overview of the situation. I want to free it up to the speakers here. I mean, what the fuck is happening should founders be able to steal over a million dollars in funds? What are your reactions to the situation ghost? I'll tell you about first.
I mean it doesn't look great and it's even worse when you consider that the white hat hacker returns like all of those like almost 3000 ETH of funds like doing them a huge sell it and then it seems like the the founder is kind of just rugged here. So it's pretty brutal and I I don't think that if I was still an A-polar or had anything in there that I would be comfortable still
holding that in there. So I think that there's other alternatives that you can go find. So I'd be pulling that out to avoid any potential drama continuing. But it's it's such for the entire community. And I think as we continue to get into the depths of this bear market here, we're going to see more bad actors and people that are making decisions based on money over over the community.
and this kind of feels like that. It's hard to tell. It feels like there are more bad actors out there right now. It's unclear to me if it's just they've always been here and they're just a higher percent of who's left because so many people have just left in spades at this point or if they're actively more. But it feels just like landmine
and I agree with you, I mean who is keeping the assets in this protocol right now? Like why would you take on that risk? It just doesn't make any sense to me. People must be asleep at the wheel and not realize this is happening. Emily, I'd love your thoughts on the situation. Yeah, I think it's
I think it's pretty wild.
especially when, like if you're trying to say that you're safe for alternative or it's more D5 right then then essentialize exchange and you turn around and do something like that. Like I have no idea how it's still standing up not to mention that protocol is like
that make a lot of money. Why does he need to steal that money? It's crazy to me. They do really well. However, I will say that I did notice that they started sponsoring weird things and me, that's a red flag. I've been suspicious of
them for like a couple of months at this point. That's interesting. I'm not an expert in the economics of how these protocols make money, but to your point, seem like they were doing very well. I mean, a hundred million in assets on their protocol is nothing to sneeze at. They had 8% of the board
eight market on their protocol. I think that has to be number one. I don't think Bindow is pulling in those numbers. So it is quite surprising to see this move from the CEO. Logan, I'm curious, is this the biggest NFT related
hack slash scandal that that we've seen in the last few years, at least from a from a dollars and cents standpoint, what's what's your take? Um, I actually, I'm not certain. I don't know if you'd characterize it in the same way, but the the Ronin like bridge hack with Axi, which of course like Ronin that blockchain is, uh,
100% dedicated more or less to vaccine affinity. That was pretty notable as well. Just answer your first question. Secondly, I mean, I don't know how this is flying as it feels like it's flying somewhat under the radar in terms of the headlines this week, despite the size of the act and also the
actions being taken just seems so ridiculous given especially the news recently about the nachastane thing which was like $40,000 of insider trading and of course not condoning that behavior but very very small actions and then you have people blatantly behaving as such.
This is just absolutely horrible. Your first question I think was should founders be doing this or something along those lines? Of course they should not be and they definitely shouldn't get away with it. And hopefully he's punished rightfully for all the things that happen here.
should not be allowed to steal millions of dollars from their protocols. Certainly, I would tend to agree. Nate Chastain, is he even on the top 100 list of bad actors in this case at this point? I'd say probably not. He may not even crack top 500 when this year is out.
He was just wrong place wrong time, but it does again. These bad actors should not be sleeping too comfortably knowing what could be coming for them in the future. Like it's from a market impact standpoint. How worried should you get asset holders be or even just the rest of the market? Do we think we're going to see an additional
a good cut of this 4% of supply enter get listed on blur or dumped into bids and we think folks will find another home for the CT and love your thoughts. Yeah I mean I think I don't know if you guys saw that I saw a tweet this morning at NET by tweeted some rewards program that
It was a very similar vibe to the tweet that, you know, when blur season, whatever came out, like they even called it season one. And I was like, "Oh lord, like here we go again, you know what I mean?" So, um, to answer your question, I really just feel like, I don't know as long as there's incentives in the market to, you know, keep, you know, base.
and dubbing and all this stuff like that. Like it's just gonna keep happening. And you know, I think PFPs, future PFPs is like pretty TBD, honestly, because right now they're just being treated as like all coins, right? And I think honestly, if like our blocks
I don't know. I feel like I want to be bullish today. Like I wasn't Wednesday, but I woke up today feeling like, I don't know, you know, yeah. What do you think Tyler? I want to know what you think. You know, it's hard to say. I mean, it's definitely not
not a bullish indicator. I mean, I think we saw a little bit of panic in the board eight market. I think it fell to like 42 mid 42 range. It popped back up. It's up 4% here today at 44. But clearly on a downtrend this month as the entire market is. I mean, I think a root of this issue, right?
is there were 800 wallets trading on Blair last weekend and that the top five projects on the Blair board, Mulady Mutants, Punks, Bordebes, Zuki, those are all PFP projects and there's 40,000, 50,000 PFP's in those top five collections with 800 people at
So we've got more P.F.P.s than we've got people left by multiple rounds. So that is absolutely a part of the issue here. And of course, no new blood is entering at this time. Go some courage for your thoughts as well.
have either been taking loans against their apes for additional liquidity or they're using the apestaking protocols for the auto compounding benefits. So those feel, at least for those in the auto compounding pool, those are likely longer term holders. So I think they're more likely to find
alternatives. But man, I think there's just something to it. And like, I've been an active NFT fire user. So I've used NFT loans for for two years now. Sometimes you pull your your NFT out of a loan and you're just like, should I just sell it? Instead of taking another loan out against these thing, this thing is 70%
I just get 100% and see if I can buy back later. So I do think there will be a percent who think about that. But of course, it's not the best market to sell into. So we will see how it goes. But this is definitely going to be one of the bigger storylines here.
over the next few days it will be interesting to see how this gets resolved. Well I want to move us along and get into our next topic around Coinbase but before we do that let's read the news. Today's top headlines powered by Lucky Trader. Trading volume fell back to 13,000 ethos
on Thursday with NFTs saying a mix of red and green on the day. 10 Chromy Squiggles are coming up for auction as 10 unmented squiggles are set to be sold in an auction called Snowfro's Squiggles to benefit ALS research coming on the 24th. Moonbirds made two announcements yesterday, one that the Diamond Exhibition reshuffle is coming
complete and to that they are partnering with Spotify to launch a token gated playlist initiative. Looks rare, launched a mobile app offering its users portfolio and rewards tracking along with collection browsing on iOS and Android. CoolCats, AirDrop's Arorium to those who participated in their Journey 6, a symbolic token
with transformative potential. And Balhalla launched their own form of nesting with their battle pass program rewarding those who hold and stake for a longer periods of time. In Web 3 and crypto news crypto fell hard on Thursday as punts are touting lower liquidity starting to become an issue in the crypto market Bitcoin down 4% on the day it
26,360, 8 down 3% at 1765. Coinbase did apologize to the broader community after their email tying Pepe to the alt-right faced wide backlash. Though Pepe did fall another 20% on the day. Now, 540 million in market cap. And then Nike's our force one collection is
except for its first mint on Monday for holders of their air drop to posters. So those are the headlines, ghosts. Anything that caught your eye or stood out from yesterday? Yeah, I mean, I thought the Pepe coin base apology was interesting and I'm not feeling great about the meme and shit coin markets right now.
But I'm hoping that the people that were rallying against Coinbase and actively telling people to delete the app and stuff like that can can move on now because I think that their apology came out after the show yesterday, but we had a little dialogue on it on Twitter and we really need to support Coinbase I think against the government and the regulation of the crypto
to out of existence. So hoping that everybody can kind of unify around that and not just cancel them over an email. But that was the main thing for me. I think the squiggle dynamic is really cool. I know that people are concerned a little bit. I think you're going to mention the price action there having poor timing for the auction. But I think that
the idea that an artist who created something that became worth a ton of money is able to kind of auction off some of them for great charities or give them to people as gifts that he really wants to reward is a really cool dynamic there. Yeah I love the mechanic it's for a great cause and I have a her price action a little
But I mean it's just 10 squiggles so it shouldn't be too big of a deal But that's something to look forward to for those in the the art blocks and squiggles market man at the meme coin season is looking rough as you said goes. I mean I famously called top like two or three weeks ago before pet they went on its nuclear face melting run
I was just starting. I'm done trying to predict this thing. But now we're seeing what 70% draw downs in a lot of these coins. It feels like some end of psycho activity. Can we please talk about this coin that caught headlines last night? You brought to
my attention. Harry Potter, Obama, Sonic, Enu Coin goes, how'd you find out about this? So I literally, the only reason I knew about this is my mistake because Turbo, who also writes a great NFT newsletter called Page One tweeted what I thought was a
it turned out it was a real coin and I guess I guess it was catching some attention so we all deserve to go to zero and this space needs serious help. What was so brilliant about Harry Potter, Obama, Sonic, Enu coin, A, I mean beyond it's just beautiful name and just rolls off a tongue. Their ticker is Bitcoin, Bitcoin and all caps. So you want
to get some exposure to Bitcoin look no further than Harry Potter, Obama, Sonic, and Newcoin. Of course, I'm joking. Please don't buy this because of what we're talking about. Emily, I feel like this coin is up your alley. Does you get in on this flavor of Bitcoin or what are your thoughts here? I did not
get in but I've been seriously considering it. The thing about shit coins is that you can't take your eyes off them. So like, I don't know if I if I choose to get in it's gonna be my entire weekend and I don't know I just like have enough time lately. However I'm a big fan of that
of that specific coin strategy, I think they have, they like, they capture the, the kitchyness of shakoyans exceptionally well and I'm not sure if the average shakoy
buyer or like NFT participant is, God this is gonna sound bad. Sophisticated enough to pick up on why it's so funny. But like it absolutely is and I'm you know bravo. I'm a big fan.
Yeah, no, it's funny. We'll see if they have any staying power. Maybe we'll shift off name coins here for a bit. Logan, you've had your hand up patiently waiting. Reaction to one of the headlines? Yeah, actually, let me first comment on this. I have of course notifications on for a lot of different wallets.
as I think it's important to have someone notable enough just actually purchased some of this Harry Potter Obama side. I won't share anything beyond. I mean you can take a look through the buyers and sellers and pretty quickly probably figure it out and perhaps tweets will come later but it just comes
my eye as an ironic timing as you guys are talking about it. I want to talk about the Valhalla thing, which is very quickly, which is interesting to me only because of our conversation regarding Paraspace, Tyler, and you asking who are the owners who are, you know, what's the demographic of buyers, what's the demographic of sellers? You know, I've been thinking about like,
What's the demographic of holders for really anything at this point in time? We've spent a lot of time talking about projects trying to find their demographic right I think can't buy pandas the next one job of that people just leaning into their lane I think this type of initiative for those who don't know there's a post up on lucky trader.com but this type of
The loyalty program is really interesting to actually just find the people who want to be the people, right? The people who actually want to hold the project. Whereas at this point in time, there's been basically no incentive for anyone to hold anything because of, you know, blur and other financialization tools that are incentivizing the movement of
projects in and out or bidding in and out or whatever. So just a really interesting take there. I know Valhalla in the last weeks up like 18% I'm not a holder or anything like that but down tremendously still as most of the market is as well but nevertheless an important week of anime headlines.
You can't rely on vibes. There's just not enough people here. But if you can build a niche community that becomes a rallying force and marketing force for you, that could potentially work. So it has been nice, on one force, on the force ever, you pronounce it has had some strong updates in the past week.
now the Hala. So we do like to see it. I have to comment, you know, we mentioned Proud's P.F.E. product staying in their lane. Moonbirds, did they get out of their lane a little bit yesterday? This is the the art collectors P.F.E. the art lovers P.F.E. but now they're launching token gated playlist.
along with Spotify. So, you know, I have to imagine that these are just deep podcasts focused on fine art, you know, perhaps playlists of songs that you would listen to in a music gallery. So, you know, what are folks' thoughts on this new partnership with Spotify Ghost?
I think it's okay. It's it's not market moving any type of announcement or anything like that, but they're trying new things and it's an interesting concept. So I think that people just want to rush to see every type of thing that a project is trying and be like, "How is this going to pop my bags?" And sometimes it's just cool to look at.
let them try new things and experiment a little bit. So I'm all for it. Ghosting very politically correct. I applaud your response. Logan's thoughts? Yeah, I was thinking that as I wrote this post up yesterday, Tyler, the point about, hey, this is supposed to be the Arclatriff B.S.
But I think it's totally fine as well. I think it's just proof showcasing their ability or its ability to flex connections, to flex all of those things that many of the people who initially bought Moonbirds and Beyond were hoping to get. This is just a flex of that.
Although, of course, it's not specifically art focused just yet. I can't see the playlist in a lot of Moonbirds holder. So maybe it is those, you know, those museum-y type tunes. So while it's not, not art focused particularly. I still think it's totally fine. The sentiment, or we always try to add community quotes to our posts.
or luckytrader.com. The sentiment from the initial announcement was somewhat mixed. There were many who responded like, "What the hell? This is just like a private playlist?" And then there were some who were like, "Hey, this is really cool. You're partnering with Spotify." So, kind of split down the middle. That's what I expect nearly every announcement is about.
I'm not going to let him off the hook. I feel like part of the negative feedback or the big portion negative feedback. Again, Smoon Virgin Proof is this kind of lack of direction and lack of follow through in a bit. I'm just kind of throwing things at the wall and seeing what sticks. And now this feels like that to me. Okay, let's partner with Spotify for a token gated playlist.
Okay, now what? Right? So I don't really see the purpose in it as much. The other part, sorry if I can jump in here Tyler, the other part about this that is kind of funny, which is contrary to what I just said, which was like, hey, this is fine, is that it's such a small selection.
of potential users. There's geographic definition of who can use, which is open to probably most of their holders. I don't know the actual moonbirds break down geographically, but largely probably all the holders, but it's only Android users as well at present time. So it's probably like, yeah, of the users and holders of moonbirds, I don't know, there's probably
1% to 5% of potential activations, right? That's if people actually saw it. One other thing that I noticed when I wrote the post was they indicated that the link was going to be in the Moonbird's bio to access it. We of course always try to put the, you know, here's where you can take action and the link wasn't there. So I don't even know if
it's actually active yet. But that goes to your point about kind of failed activation and not executing. >> As an X Android user and proud new iPhone owner, never going back feels like an egregious move to launch with Android first, Emily.
I'm in the same boat as you. I've had many people be like, "Oh, how did you switch to Android?" My answer is always that every iPhone ever had, I've hated infinitely less than every Android I've ever had. It seems like almost like a
thirsty move if you know what I'm saying. People got bored of this super fast. What if we run over here and wave our hands and see if they'll give us attention this way? I think that they need to basically rebuild from the ground up and it is not through partner with Spotify.
Yeah, I think I'm with yeah. All right enough beating up on proof and moonbirds. Why we still have CTO I think we might have just lost her again. I was gonna tee up her thoughts on broken keys and the Alpha Centauri kid his big week. So for those
who haven't followed 731 Ethan in primary sales for that collection he raised over 1.3 million we saw a top sale 31.69 ETH we saw men men sale nine and then just yesterday the first secondary sale went through I
once I said that was for 22, the floor is now 30. We're seeing this piano collective forming, you know, around Alpha Centauri kid. And I'd love to have gotten her thoughts on if ACK is kind of moving into the top tier, but I'll open it up to
or Logan and folks who follow the market. Closely, how are you feeling about what ACK is building and then maybe thoughts on these these collectives that we've seen now Sam's platform with his goals and now ACK doing something similar is this the is this the new move for artists to make. I'm ghost. Yeah.
I was going to mention that before you even said that it feels a lot like the skulls movement that we saw a couple days or weeks ago regarding that kind of exclusive close Nick community and I think that ACK the amount of money that they raised and the sales there were just super impressive and I could kind of
feel that same community building around around keys and it makes sense for a high-end piece of art if you want to have an exclusive community built around those holders. I mean it's it makes a lot of sense in my mind so I can totally see that happening and I think it's a great move for these established really well-respected artists in the space to try to crack
those types of smaller, knit close communities of like really great collectors that they respect or just getting those people involved and rallying them like around a smaller community that can be really focused on one central piece of art there. You know I like to move a lot but I think artists also have to be thoughtful about it right like
A, the collection has to be good. B, it has to be the right supply so that you know, you connect, you know, you make enough, A, that the art is good enough that folks want it, but also like, it can't be too small, right? Or you won't have a big enough core to really build, you know, a community. So we
I think the skulls is around, I think there's like 70 or 80 of them, pianos now there's 48. So that feels like the size that some of these early artists are going after. I think when I think about what artists might do this next, who like Grant Yoon comes to mind, I could absolutely see
him being able to pull something like this off. But it takes months and perhaps years of planning, I mean, ACK has been working on the broken keys for two years. So it's not something you can just roll right out. But we will see if this becomes more popular move. All right, we haven't talked about it yet, but I want to
least quickly touch on Coinbase versus the SEC. Coinbase is about to get some help in their fight here in a groundbreaking move yesterday. We saw the US Chamber of Commerce is filed a brief in the Coinbase first SEC case accusing the SEC of acting unlawfully in the digital asset domain.
brief opens with a pretty strong attack. As it stands today, nobody knows for certain which digital assets, if any, are securities under federal law, they go further to say the SEC has deliberately muddied the waters by claiming sweeping authority over digital assets while deploying a haphazard enforcement-based approach. This regga-tour chaos
is by design, not happenstance. So some pretty damning quotes and arguments here. Then their core argument has three points. Some rise very well by Metta Lawman. Maybe we can get that tweet pinned in the space for those interested. One, regulatory uncertainty is killing innovation in the US.
two, the SEC is destabilizing the digital asset regulatory environment. Three, the SEC is violating constitutional due process and fair and notice rights. Going further than saying the SEC's actions are unharmed, they're even saying they're basically unlawful here. So why this matters, I think it should be
pretty obvious, but now Coinbase has an ally and one of the biggest and most powerful organizations in the US with the Chamber of Commerce, the Chamber clearly pro crypto and pro digital assets and see the importance of those for business development in the US. And I feel like it's hard to overstate the importance
So I'd love to get our cruise reactions Emily up to you first. Yeah, I'm really happy to see that and it honestly felt like what's going on with the SEC is basically disingenuous and I think that's why everybody is upset with Gary Jensler especially after what was explained.
through FTX and SBF and their relationship, he was almost trying to walk those things back and disprove some sort of guilty by association. I'm very much with the Chamber of Commerce. I think that it would be an enormous long-term
economic mistake to not do everything that the US could to support blockchain technology specifically, which goes hand in hand in crypto or hand in hand with crypto, as someone who has founded a company based on blockchain.
It's kind of incredible to watch the willful ignorance of the U.S. lawmakers in trying to resist a technology that fills an enormous void. So I'm happy that the Chamber of Commerce has come forward to at least support the money-making potential that's there.
Yeah, I wanted to follow up. You as a crypto company founder, owner, do you feel a little more confident in having your business established in the US with the Chamber of Commerce now coming to bat? I do, but at the same time,
One of the reasons we were also comfortable forming our company is that we sell products for users of the blockchain. We are not actually issuing tokens or doing any sort of defy any of those things that really come into question.
We're tooling. So we were in a niche of crypto that wouldn't really be affected or would at least be fairly easy to defend. But our consumers is everybody else. So while us in particular are not super vulnerable to those types of
questions, there is facets of our technology that we were somewhat worried about specifically around staking. So it's good that that, yeah, it's the type of news we want to see. Well, that's good to hear. I think it makes a lot of sense how you've kind of structured the company. Ghost, do you have some additional thoughts on
doing. We've had Congress dunk on him and now we have this. So it kind of feels like Gary's just getting hit from all levels, but it's also kind of worrying that he could still just kind of act and do whatever he wants despite seemingly everyone else disagreeing with him. So hopefully this is a good step forward and makes even more people realize that he's kind of just
acting on his own impunity here and we can get some changes going. So as one who follows the sports market sports betting, what would you put the line right now at Coinbase versus the SEC in this case? What is the overrun? Who's favorite here?
I mean, it feels like Coinbase has the momentum, but I'm not gonna, I don't know, I don't feel as confident. You just never know what the government has up their sleeve or what's going on over there. So I'm sure that there's a lot of back channels and things that we don't see in the public eye. So I'm cautiously optimistic. - I've got Coinbase at -300.
I wrote it, the headline on my newsletter this morning, the SEC is losing the war on crypto. I feel like there are sainter heads in our courts and in the legal aspects of this country than there are in politics. And I know that politics are a part of it. But I feel like Coinbase is going to win. Emily.
Yeah, I'm with you. I think that it would be very naive of us to neglect the fact that this is politics and there are people that are up for reelection and being in favor of an innovative technology that has the ability to to make a lot of money for citizens and for the GDP at the same time that a
AI is taking an enormous amount of jobs and causing many companies to freeze hiring. It's a really serious issue. We can almost thank AI for providing the friction required to push crypto forward, which is kind of an unexpected twist. Indeed.
And you mentioned the political aspect, I think goes mentioned as well. I think without getting into too much detail, you know, we don't talk politics on the show really at all. Has the polarization of crypto impacted your party stance? Anyway, either made you deeper or made you question loyalty
If anyone is open to saying I'm happy to go first and the answer is yes for me. It's been eye opening how some of our highest power politicians have been addressing crypto. So is that me open my eyes?
bit and kind of thinking hard about this upcoming election. I'm not going to let you get away with this one. I need some kind of answer from you. Yeah, I agree 100% with you. And I hate that it's become political because it should just be a technology thing. And yet it seems to be such a divide across the party line.
and it sucks. We saw a Biden post at Twitter post earlier this week where he was talking about how there's all the crypto tax loopholes that they're trying to close and that the Republicans are trying to do other things. It just seems so disingenuine and it doesn't need to be a political argument, but it's really
really turning into one and if you are really deep into crypto and feel strongly about that in this country, it's going to be hard to vote for one side that really wants to completely kill the industry. I mean, the definition of that Biden post is propaganda. It was a false analogy with crypto tax loopholes and I can't
food inspections. Like those were the two options on the table. I would love to know some of those crypto tax loopholes that he's talking about. Well, I have to make some profits before I need to start worrying about tax loopholes. Maybe we'll have a better second half of the year. In my additional thoughts on the maybe we'll close out. Yeah.
Firstly, ironically enough, food safety is one of the very prominent use cases for blockchain and beyond that. I think without talking too much about my personal political alignment, I think it is pretty universal.
But the two-party system is incredibly ineffective and creates a weird divide in America that over-politicizes issues that should not be political and turns things that really are humanitarian and about the well-being of citizens into a valid
and ballot stances and ways for people to get their kickbacks or secure their easy job. And that, I think, is incredibly problematic about the American political system in the first place. And I think that having an issue that really does split parties themselves in half may
maybe the type of invigoration that we need to start breaking down the two-party system into something that is much more about the candidates and the current issues and much less about legacy and being able to put people in power that have been around for way to hear from everybody.
But yeah, I keep people in power that have just been around for way too long because of their ability to control one of the two parties and be the most likely to get elected. I think that's one of the biggest problems in the American political system in the first place. So if this is what it takes to stir that up,
up like, you know, maybe we are about to see a really incredible change that's going to keep America in power because it really seems like if they don't make significant changes. There's a good opportunity for that to slip through the hands of America, which, you know, becomes an issue
of national security. So hopefully they can, I don't know, get their heads out of their asses. Just so well said, I think you put a very eloquently and I'm very aligned with you there that I would applaud if the issues we're seeing now, this disruption can actually impact the part
system and get us into a better place. It doesn't seem likely to happen by 2024, but perhaps in the next cycle. Well, maybe we'll revisit politics next week. I think we had a good run. We lost CT. She's not interested in the combo at all. It might be a good time for us just to wrap
up here for the day. But before we drop, what's minting today? So we've got the memes by 6529 coming out of 11 a.m. Eastern. Our block's curated actually just launched 40 minutes ago with their latest memories of digital data by Casu Hero, Tommy Motto. We've got Ter.
by gang-contexture plus tender coming at 12 p.m. Eastern. Then the MEMS mingle launch we had maxi the artist and founder on the show yesterday that's launching today at noon Eastern on OpenC for 0.01 a.m. Certainly I think our blocks curated the mint of the day here it's been interesting 450
supply, the theme is fictional claps blockchain world of visuals and sound. The minimum resting price is 0.148. That's the lowest men we've seen in quite some time. So for awareness, the last curated called still moving is still sitting open and did not mint out. Have the supply is still left. So we will see if this one does indeed mint out.
Folks, that is it. That's our show for today. We'll be back on Monday at 10 a.m. Eastern. Thanks to our listeners. Thanks to my calls. Everyone enjoy your Friday and enjoy your weekend. Let's make it a good day.