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UNDER EXPOSED: Powell vs Trump, a16z’s $15B & Fidelity’s 2026 Outlook
Recorded: Jan. 13, 2026 Duration: 0:58:40Space Recording
Short Summary
In a dynamic week for the crypto market, discussions highlighted the DOJ's scrutiny of Fed chair Jerome Powell, the soaring prices of gold and silver, and the upcoming launches of FunToken and Fogo Chain, signaling significant trends and opportunities for investors.
Full Transcription
Thank you. Thank you. I'm going to be here. Thank you. hello everyone and welcome to another episode of underexposed our weekly macro show hitting
all the biggest topics and trends impacting crypto and broader web three to date is tuesday Trends Impacting Crypto and Broader Web 3.2. Today is Tuesday, January 13th.
It feels like a month has passed since last week's show, at least a month of activity.
Trump has made multiple major policy decisions in the past week, impacting a variety of markets.
We have Iran in full revolution mode.
The Trump admin seemingly now going after Jerome Powell.
Yet our tokens basically flat on the week.
Today we're asking are we finally set up for a breakout or will the chop continue?
We're going to talk about it on today's show.
I'm your host, Tyler E.
I've got my co-host in the house.
D's our new dad.
Welcome back to the show. are you doing how's the babe
feels good to be back man she's healthy um you know she's a baby so we're sleeping for two or
three hours at a time a couple times a day and i feel like zombies but um it's a good problem to
have you know it's one of the best best problems to have so glad to be here glad to be back glad
that she's sleeping right now so i can do this. And yeah, thankful. Thankful everything's healthy. I think when you have a baby in your hospital,
the number one thing you care about is getting them home healthy. You don't really care about
how much sleep you have or any of that. It's just they're healthy and that's all that matters.
Oh, great to hear. I honestly didn't expect you to be back this soon. Just one week in.
Stay at home dad life. You know know what else am i doing i got
i gotta be back you know maybe uh being sleep deprived will help in these market conditions
help unlock a further left curve uh part of your brain one of the first things i did was buy
testicle tokens so i think i think we're making good decisions left curve indeed um folks we've
also got peter Janney's on.
Founder of several companies.
Still finds time to hang with us.
Peter, GM, how you doing?
You're on mute, Peter.
Oh, we still cannot hear you.
I don't know what's going on.
We'll try to get... I bet you can hear me now.
There you are. Yep. Yeah, I think my mic somehow is not working, even though it says it is. you i don't know what's uh what's going on we'll try to get i bet you can hear me now there you
are yep yeah i think my mic somehow is not working even though it says it is uh yeah so to you guys
congratulations these uh you know the father narrative new new father narrative that's normally
very good in sports uh you're motivated so hopefully you make some great trades there's a
i feel like you're lucky and just there's's, there's a magic about the new dad
vibe.
So kudos on, on the healthy baby.
And yeah, stoked to get into with you guys.
I think the metals market is something I definitely want to talk about, Tyler.
That is wild to see.
And obviously it's correlated with crypto in some regards.
Yeah.
And maybe we'll start there. We'll get there in just a minute.
A couple of housekeeping times as always. We're live on kick.
We're streaming live on X as well.
And we'll do our giveaway at the back of the show,
$500 to one of our affiliates.
You have to be signed up on eat using the morning minute ref code.
Shout out real quick to the Morning Minute team.
We just took down Yeet big moments.
Won $32,500 in the past week in prizes.
I think overall won $34K for the squad.
So we are a strong team, arguably the strongest team in Yeet.
So there's still plenty of time to get along for the ride.
I'm sure we'll have another big moments coming up in a month or so. So make sure you're signed up. You'll have a chance to
win our giveaway here at the end. And as always, before we get started, a quick disclosure,
the opinions expressed on this podcast are those of the speakers and do not reflect the views or
opinions of any organizations they are associated with. We are here to share insights, provoke
thought, and maybe even serve some debate, but this is not, I repeat, not financial advice.
While we talk about markets, investments, and trends, remember, your financial decisions
should be made with the help of your own research or with advice from a licensed professional.
All right, well, let's get into it.
And people, we'll start, I kind of wanted to start just broader macro today as well.
So I'll get right to it.
Crypto board, we'll touch it on prices here in a bit.
I think one of the biggest macro headlines of the past few days is the DOJ targeting
Fed chair Jerome Powell.
Jerome Powell immediately, seemingly immediately responded with his own message where he said in his own words that he is not being attacked because of his actions tied to this specific probe about the renovations, that it's actually just all about him not cutting rates fast enough in line with Trump's wishes and expectations.
So those two have been going back and forth a bit.
I don't really know.
Rate cut markets have changed a bit.
We were already near zero chance for a cut in January.
We're at 3% now.
It's not a huge move there.
A decent move in the April markets.
So we're at 34% chance of one cut by April.
That was 43% a week ago. So it's down about 10%. So a bit of a move, not a crazy move.
There was talk like, oh, markets will be rattled by this, by perhaps the government
breaching Fed independence.
I don't know.
We've seen a whole lot of actual substance to back that up.
Stocks have been doing kind of just fine.
I think they're basically flat on the week. But arguably the biggest move has been gold and silver.
Gold hitting multiple new all-time highs.
Another new all-time high today.
I think silver hit a new all-time high as well.
But Peter, curious for your thoughts, reactions, A, to the Trump-Powell debacle playing out and impact on the metals market.
Curious for your thoughts.
Yeah, the most recent quote that I heard from Trump on CNBC this morning was that he was saying Powell is either crooked or incompetent based on the spending.
He's still trying to lean into that.
And, you know, this is pretty impressive.
Powell coming out and speaking late at night. Fed chairs are almost, it's very deliberate when
they speak. I was surprised that that happened, but clearly he thought it was necessary given
kind of the probe. And it clearly is political, which is not ideal for our country and not ideal for the global
economy in my mind. So we'll see how it plays out. At some point, we'll have a new announcement
of a new Fed chair. There's certainly kind of the second order effects of this is there's going to
be a lot of pushback on whoever that chair nominee is, given what Trump is doing with Powell here.
So it's unfortunate.
Markets didn't move a ton.
You know, there are expected a little bit more rate hikes.
The long end of the curve remaining is really sticky.
And I think that's the part that people don't, you know, really think through,
is that just because you drop short-term interest rates,
it doesn't mean you're going you drop short-term interest rates, that doesn't mean
you're going to see longer-term rates drop. And in fact, the 10-year has just been
insanely sticky in this 4-2 range. So going forward, we'll see who the new Fed chair is.
And I think the most notable move in markets from a macro perspective is metals, specifically silver.
I mean, silver is up 23% year to date.
Silver, if you pull up a chart of silver, this is what we're hoping our crypto bags look like, right?
Like silver is the meme coin that's going absolutely nuts.
I mean, it's a remarkable chart.
So I think that's really interesting.
I think, you know, the trend of just people replacing U.S. Treasuries with gold around the globe is happening.
And silver in particular is a little strange because a lot of people who are bullish on silver in a narrative that's out there is the industrial use for silver, which that's a whole nother rabbit hole.
You know, we can go down at some point in time. there is the industrial use for silver which uh that's a whole nother rabbit hole you know we
can go down at some point in time but uh that was the most notable move after all the talks with
trump and powell and then one other thing i thought was notable and just pretty incompetent from from
trump and the administration was the credit card stuff i do love the um motive around it i think
you know certainly credit card companies are gouging people, but if they put in a lock on the rate, let's say it's 10% like you proposed, all that's going to happen
is the high credit risk people who only make sense for the credit card companies,
people hurting the most, you know, you need 20 plus percent for that to pencil.
So all that's going to happen is the credit card companies will cut the people who need it the most. So it won't have the intended consequence that Trump wants on that. So there's a whole slew of other things, but, um, yeah, it's, it's a whirlwind of just weird policy stuff. Um, I don't, I don't love that Trump's going after Powell and, uh, there's been some other things I think, uh think aren't really well thought out. It was a messy week.
I think the Trump admin doing a bit too much.
It's almost like they had this end of year huddle.
Like what do we do to fix approval ratings?
What do we do to fix like affordability crisis?
And ultimately, you know, ahead of midterms and, you know,
they're 20% to win the house.
So that's not a secret.
They know that.
But some of these, like I think some of the announcements last week were okay.
And then we had like banning institutions from buying houses.
Like maybe there's second, third degree effects on that.
But I think most folks are generally that's probably a good one right on board with
that yeah the 200 billion into mortgage bonds i guess i have less of a read on that one then the
credit card restrictions was almost saw like immediate backlash like acumen coming out it's
like yeah this is not gonna have the the consequences you want um So kind of a mixed bag last week.
And then going after Powell, I think pretty much universally rejected.
Correct.
And on the other side, and I think this is kind of the hard part for the majority of
the country, is on the other side, you have crazy stuff like the billionaire tax in California,
which I think everyone is for people paying, you know, especially the extremely
wealthy paying their fair share. But having a seizure tax or confiscations tax doesn't make
any sense. And then, you know, you have Memdani saying some absolutely crazy things. And there's
just so much content around what's happening in New York. And then on the, you know, global scale,
it just feels like geopolitical tensions are rising. You didn't even talk about
Venezuela yet, the Maduro thing, which probably the funniest thing from that, and that's in our
world, is if Maduro was just paying attention to Polymarket, he might have made some different
actions. So, there's just so much going on. It's really hard to navigate. And the stock market in particular is just kind of just cruising
along. So I don't know. It's a tricky macro time as it relates to crypto. My base case is that the
Trump admin is certainly going to try to do everything they can to make the economy boom.
That's what Besson and everyone's been saying for a while. So I'm still of the expectation that
broadly Q1, Q2 should be pretty strong as the admin tries to do everything they can to set themselves up for midterms.
I still think we see helicopter money in some capacity at some point in time.
I'm with you there.
And I want to come back to crypto and its impacts here in a bit.
I mean, you kind of nailed so many things happening.
And I kind of said this on FOMO last week.
How do you even have an outlook for the year
when we've had five major policy decisions
that impact these markets fairly substantially
in a week and a half?
You just have to be totally fluid, right?
And you have to be somewhat reactionary.
And I want to talk about also a huge news on the AI front out of Claude the last week as well.
But before we do that, I just want to talk rate cuts briefly.
What's your read on Powell debacle?
Will it actually impact rate cuts through the rest of his term?
Yes or no, what's your take?
We'll see when uh maybe maybe one cut um you know the april one has gone up and also we got cooler inflation today than kind of expected
and true inflation has been hovering pretty low uh one thing the admin that we didn't talk about
with and it's correlated with venezuela they are really trying to press oil prices down, which is another commodity to watch.
So from an inflation standpoint, they're doing everything they can to get that down, which
would help drop rates, right?
And then if inflation stays lower, and there are a lot of deflationary forces out there,
then the long end of the curve can come down too as well. So as it relates to rate cuts, I mean, I think the big thing to watch is inflation.
And they're going to push whoever the new Fed chair is, is probably going to lower the short
end of the curve. And we'll see what happens. Helicopter money certainly is not deflationary,
but AI and Claude and all these other things are really, really cool and could be extremely
deflationary. I mean, inflation's down. the job market is weak and seems like it's softening and getting weaker
every month like i mean not huge headlines like cities laying off on a thousand people here
saw that headline today um it's all that like 42 percent of new grads are underemployed that's not
unemployed i think a lot of folks saw that headline and maybe took it too far, but 42% of new grads are underemployed.
It seems like leaning towards cutting rates is still the right direction to go based on those two factors with inflation under control. So we talked to Joseph Shalom, the CEO of Sharplink, who was also the head of ETFs at BlackRock before he came over to join SBEP.
A statement that he said, he was very specific that he thinks crypto will do well if we get 100 bips cuts in 2026.
But if we only get 50 bips or less, he thinks it's going to be a tough year for crypto, which was notable because he didn't really give many short term predictions or really much of a near term outlook.
So that was one of the more specific things he mentioned.
What jumps out to me about that is we are, if you look at it right now, we're 63% to only get two cuts or less.
So then we're only 12% to get 100 bips.
So that's not the best odds, Joseph.
Unfortunately, if the whole bull case for crypto is relying on the 100 bips cuts.
So I thought that was an interesting statement
from him.
We'll continue to monitor this.
January is going to be out.
I think March is interesting.
I don't know.
I think March feels like
it might be more of a coin flip.
My read is Powell is going to do the right thing
based on the data
and he's not going to act
based on what the administration is doing. I don't think he's not going to act based on what the administration is doing.
I don't think he's also going to garner a grudge and not cut just as an FU.
I think he's going to continue to – he's going to go out on a high note
and do things the right way.
So I'm not worried about that personally.
Maybe we talk AI quickly.
We talked about Claude a bit last week.
I think it's too big and too important not to talk about.
So I think the biggest news in the past week is this new Claude Cowork came out yesterday.
The capability, as I understand, was already there, but this is a new UI to effectively guide a non-technical person through the code development process, through the AI agent development process.
This is still not my area of expertise.
I'm not really deep into this yet.
One of the takeaways, it was built in one and a half weeks by Claude itself.
So Claude built it in one and a half weeks.
And I've already, I think one of my immediate takeaways,
I don't think the AI bubble's bursting.
My immediate takeaway from this is it's going the other way, up and to the right.
I saw this post from CAD.
cad i'll share this uh with you all i don't know folks have seen this yet
I'll share this with you all.
I don't know if folks have seen this yet.
um these latest cloud releases feel like the biggest corpos bet on ai and they have one
downstream effects to be seen years to come um
peter curious for your reactions to this and on these i'm curious for your thoughts as well
um yeah as someone who's uh paying for lessons in cloud code and has been building out, it's pretty remarkable. I built out a really cool kind of personal dashboard for finances, taxes, etc. Coded it with the help of cloud code. I just talked to it and it's remarkable.
It's remarkable what was created.
Also, Anthropic, raising at $350 billion.
I'm pretty active in these secondary markets looking at the late-stage stuff.
SpaceX has had a lot of traction, a lot of kind of secondary sales.
And I think a lot of people want Anthropic, and it's just not really available.
And if it is available, it's a super high fee.
So shareholders of that, even at $350 billion, are super bullish.
And if you use the product, it's like a holy shit.
This is really changing the world.
So I'm as bullish on AI as I've ever been.
I think we have so many really big tailwinds
for human beings and kind of the whole world.
Tesla's self-driving is insane.
Claude is remarkable.
And just from a data aggregation
and analysis perspective,
AI is super, super cool.
And it's just, it's going to be really accretive to society so um
i don't think it's overblown i think the big bottleneck is power and we'll see how that plays
out uh but as a cloud user i guess the most actionable thing get in there like if you're not
using this stuff you're going to get passed by fast. It's remarkable how productive it is. And you can have Claude, you know, working in the background,
working while you sleep. I think that there's going to be a huge case-shaped kind of economy
for people who are using these tools and people who aren't. I feel like the biggest hurdle
is not not wanting to do it.
It's like, what do you do?
It's like, what type of app should I think about building?
What type of workflow should I do?
What do I need?
That's kind of the wall that I've been running up against.
It's the era of the idea guy.
This is the best time to be an idea guy, I feel like, in a long time.
For sure.
Tyler, you should just be thinking about what's your day to day look like.
How can you automate a lot of those tasks?
Literally just go through like how you're spending your time now and try to build something
that can help automate as much as possible.
It makes sense.
Obviously, you're still going to be doing the content, but from a research perspective,
it's an amazing aggregator and gather of data. Um, you can set stuff up to track in real time.
There's so many things I think would be extremely helpful to just the work you're doing. And then
on the personal side, I found it super useful, just getting more organized on my finances, taxes.
Um, you can get, then get advice on like what you should be doing differently
based on your situation um and there's there's some people have built products for that i think
pumps like personal cfo is like he's like tweeting about how you know you can plug in your tax
returns and they'll give you advice so there's all sorts of cool stuff uh the most recent mr
podcast um they talked a ton about this the one one guy, I'm going to butcher his name, Kuo Wang, he basically built a platform through Claude that is constantly looking at every single public equity available and is trying to identify stocks to buy with the principles of like Howard Marks, Buffett, Munger, someone else. And he's like,
the output's really, really good.
That's an episode worth listening to.
That'll get you really jazzed up about Claude.
One other antidote, Mike,
there's something that is like a kind of investor group of like poker players,
crypto guys.
And the majority of the talk has been about markets and crypto.
And the most busy channel by far right now is the LLMs.
And like a bunch of my friends have built like video games using Cloud for their kids.
It's remarkable what like all of us are vibe coding right now.
Very cool.
Deez, I'm curious.
How much money have you spent on Cloud credits, Peter, since you started?
I'm on the upper tier, and I'm paying a really high hourly rate for coaching right now.
But it's worth it.
That's what I'm making by a mile, I think.
Gotcha.
I think the top of my list on things i need to fuck around with is just
making a personal site for mixture of all the media stuff we do art collection uh advising stuff
you know anything i do just you can build that so fast yeah and you'll be amazed at how good it is
too i'm telling you guys it's like a fucking moment when you start like making stuff and it's
it's literally like just building stuff for you it's it's it's really cool it's um this seems
obvious to me but you should probably be doing this on a computer that doesn't have your crypto
on it well yeah that the scariest thing to me is there's actually Cloud Chrome. So you can have agents like doing all sorts of stuff on different tabs and whatever else.
So I have a computer that I strictly use now for AI and kind of building out like a more finance oriented computer that's not crypto.
Yeah, I would use this gaming computer over here to my right because it's fine on crypto pc but i think that's important for people to think about who are
dabbling i like wouldn't just take your crypto laptop and just fucking try to one-shot shit on
it just out of security concerns listen to that episode on blockworks and go into cloud code that
is the number one takeaway by a lot i'm telling you guys it's it's it's wild
good advice well that's on the the to-do list here d's kind of curious for your any reactions
to the broader conversation so a lot happened the first week of you having a child i don't even know
if i fully process everything that happened you know i, I put out a tweet before the baby was born that, you know, these are my bags.
I'm trying not to do too much in Q1 and hopefully sell before midterms somewhere between then
the Q1 and going into Q2.
And it seems like so much has changed since I tweeted that like, what, eight days ago,
nine days ago?
But yeah, I mean, I haven't made any big portfolio adjustments uh
for better or worse i have just been kind of around on a fomo with with absolute dog
shit shit coins like normal i still haven't bought metals but my my dad is very exposed
silver and i've been um teaching him the art of the partial sell so that he doesn't full stack out and get tilted
if this thing runs, you know, 150 plus.
I don't know what it can go to.
I have no idea, but I'm also not buying it at $90.
This is $4.7 trillion.
Let's see if I can do Bitcoin at silver market cap.
We historically do gold but now uh i mean maybe silver is worth more you know let's see if i see if i can pull it up
i didn't realize i guess i was talking yeah there it is 250k well while peter was talking i was um
just asking grok questions about the silver market and the demand for it and i didn't realize uh i
guess this is silver panels really or solar panels i mean are those really the like number one uh
use of silver right now 29 of industrial demand yeah and our batteries too solar and batteries
yeah and that is a combination i think people are speculating um you don't have to keep
going up like we're gonna probably want more solar stuff we're gonna need more batteries for
power like if you've used i've gone from a little skeptical on some of the ai things to just
full bull just stupidly bullish like how crazy how crazy this could get and the whole bottleneck
is power is silver one of the best things to buy for a proxy on like betting on power then that
i still like nuclear more than something like this but it's another way to express it silver
is really tricky because it's just run so much and silver is a very weird asset for nuclear stuff
what um stocks or commodities are you looking at to buy for that?
I think I've touted CCJ. You can pull up a chart of CCJ on the show for years.
I mean, I feel terrible saying this now.
I've had plenty of bad calls. I'm not trying to say that I always get this stuff right.
Look at the five-year chart on this guy.
Since 2020.
I mean, I've been in this pre-COvid uh and it wasn't it wasn't a great
run until more recently but um i mean shout out to you for having the conviction to hold it
especially through the uh 2024 chop looks like it just went up and down a few times and i just
i've been a nuclear bull for a long time and there's still problems around it i mean if you
want to look at the craziest stock look at oklo uh and i i did not own this what's that a ticker i think it's oklo
or maybe oklo sorry it's like the meme nuclear stock hold on i thought maybe it is oklo
it went to uh 190 and retraced now it's at 100.
What's like the one year on this one?
Oh, I mean, it was basically zero. In March 24. It was at $7.
This is almost like a meme stock, but it is also in the same kind of play. I don't even
know if they have revenue. I haven't really looked too closely into this company.
That sounds perfect.
That sounds like the perfect thing to invest in.
We don't know if it has revenue.
The chart looks great.
They have a good team or something like that.
To be fair, this is not a name I have done.
And I should because I've looked at other nuclear stocks.
My first pass at this was that it was like this is a meme stock.
So I didn't go down the rabbit hole too much.
But there's a lot of ways to bet on nuclear.
There's still a lot of risk there.
But to me, it's probably the best solution for the power that we're going to need.
The best immediate solution, which I have made a big personal investment, a private investment specifically for data centers, is natural gas.
is natural gas. That was in Alberta, Canada. Canada has abundant natural gas, and that's
That was in Alberta, Canada.
probably the best short-term, medium-term solution. And then in the dream scenario,
you just have insane amounts of power through nuclear, solar. All those things work well
together. But that's more capex and is not as available now as, say, something like
natural gas. Very interesting. And I share your sentiments on power as a sector, as it's going to
be uber important in the AI age. So finding the right place there, I think, makes a ton of sense.
in that AI age.
So finding the right place there,
I think makes a ton of sense.
Yeah, I see the silver.
I mean, we talked about,
like there's been the ongoing narrative
of gold leads, Bitcoin,
and then eventually the rotation will come.
And in fact, I read Fidelity released
a 25-page report, their 26 outlook
on digital assets.
And a part of their bull case.
And the key tenants are right here.
It's increased liquidity, stimulus, adoption, evaluation, expansion.
And you can kind of read, it's basically a one and a half, uh, two page write up for their bull case of the 26 pages.
They pull up the M2 chart in Bitcoin as a part of it.
And you can see that here and how it basically is decoupled.
And then one of their other charts in here is this potential rotation from gold.
See if I can find the gold Bitcoin chart.
It might be lower down here.
But that's one of their key cases.
Oh, here's Bitcoin versus gold 90 days.
So it kind of goes in these cycles where it's gold outperforms for a quarter.
And then Bitcoin outperforms for a quarter or so.
And we're kind of at the lows right now.
So that was part of their bull case was that eventually that will,
the tides will turn and we'll see the inflows back to Bitcoin.
We haven't really got it yet,
but the chart's looking all right.
I don't know if you guys have been paying.
There's a lot to trade right now,
certainly taking a look since so we had 10 10 and i feel like the
bottom was that really like that november 21st which where we really sold off that's really
what liquidated a lot of the remaining bulls out there since then we're kind of grinding up putting
in an ascending wedge keep battling up against this 94.5 level.
I've seen some targets out there, folks thinking we're going to 100K next,
even maybe 107.
Bob Lucas was coming out and saying Bitcoin could go to 107K
and it wouldn't even be bullish.
Curious if you have any near-term reads, Dees,
maybe I'll toss it to you or thoughts, expectations here in the near future.
I mean, at the end of december i was
very you know cautiously optimistic about q1 here i think it's going to go up um
i'm just period up position for up i think it's it's a good spot you know i i think everyone
wanted to sell sold in december um It's a start to the new year.
Pretty cautiously bullish.
I think the things that are tougher are the
things that people were still up on a
lot going into January.
Something like Hyperliquid where you have people who are up
from under $10. They're still getting
long-term cap gains. It's a very easy thing to
sell. But
the people who wanted to tax loss harvest,
you saw all that happen at the end of
december and those tokens are out of sellers like something like zcash still gonna have a bunch of
sellers because people are up so much money still um maybe something like monero doesn't have that
many sellers because well well maybe now it does but two two days ago three days ago
it didn't have that many sellers uh you know something another thing i really like this
q1 i hate to say it jibs isn't here so i'll say it i still like pump we're seeing the trenches
return a bit um anyone who wanted to sell pump sold it in december for a loss i mean people
were selling it under two bill fdvV. Who was left to sell after that?
So I'm cautiously optimistic, especially on the tokens that had all the tax loss harvesting at
the end of December. A little more bearish on the ones that still have people up money.
I like that tag. It's generally in line with my view. I think we're seeing a lot of cup and
handles right now. A lot of one month cup and handles about to resolve. Bitcoin's got one going.
You can see the one on pump here.
Pump is down to 1.7.
So it's up 50% off the bottom.
Yeah.
Trenches are coming back to life.
Alan, finally back on the timeline, said, hey, we've been monitoring all this.
you know, monitoring all this creator fees are important.
Creator fees are important.
We're going to make some changes.
We're going to make some changes.
And like, since he's done that coincidence or not,
we've seen some big action.
Have you been dabbling?
Have you been trading in any of it?
A little, little bit on FOMO.
I've been following the white whale and Remus making like over a million dollars or not making
but um had a upn all over a million at one point i think brought some hope back to the trenches
and we've seen a good amount of runners that are going like 5 10 20 mil uh yesterday or still today
is that like psyop anime token i mentioned testicle earlier um actually another token i've been watching that's pretty impressive is the grok shit coin drb um that is up almost 10x from the december lows of um
if you look at like where that was at the end of the year dude
yeah so you know grok's taking everybody and their mom and putting bikinis on them
and uh this shit coin's getting a lot of love.
So, I mean, there's really interesting pockets
in the shitcoin land right now.
And I think, I don't know,
my gut is that most people are still kind of checked out of it.
But it's hard to ignore.
Like White Whale, I ignored.
I didn't think it was going to go to 100 million.
I thought maybe it would top between 25 and 50.
But seeing that go to like 200,
and now it's retraced with 50% or whatever.
But just seeing something go from nothing to 200 in one month
really shifted, I think, my mindset and other people's mindsets
on, oh, we can maybe believe in stuff again.
I think for a while, we were too caught up in,
I'm going to buy this, I'm going to hold it for nine seconds,
I'm going to sell it,
and then I'm going to buy the next thing.
And it just creates a terrible environment
for people who want to actually try
to hit a decent multiple
and believe in something.
That was the biggest problem, right?
It was just constant rotation.
Nothing was getting past.
Everything we would buy,
like 250 or 500K,
it would be topped
before it even hit a mil.
And it was like that what
felt like from 10 10 until january or you know i guess this white whale is a little bit of a
it's it's a um dude i can't even think so i'm so fucking tired it's an exception
um but now seeing all the other stuff pump that's like okay we can start to believe on stuff again
but now seeing all the other stuff pump,
that's like,
okay,
we can start to believe on stuff again.
We had the headline,
someone turning 300 bucks into like 1.5 million or whatever it was.
And that's you being now they've started to realize some of it,
I believe.
Yeah.
so I was pulled up on FOMO.
He is up 700.
He's up a million dollars.
He has a $800,000 position and he's cashed out like,
uh, 210 grand
or something so he's more crazy than i am i tweeted something along the lines of if i was him i would
full stack out at least 500 grand and maybe more but that's why i wouldn't have been able to make
a million dollars off 300 bucks because i would have full stacked out probably at 20k um so shout
out to him and then yes those are the stories we need
like we talk about prediction markets being a new meta and it's really hard you can't you're not
hitting i mean maybe you can get 100x on a uh crazy you know sports game where someone you know
goes to one cent and you you bet on the bears and then caleb williams just pulls some of the craziest
shit out of his ass in the final 10 minutes of the game uh but like it's it's hard to to get good multiples in one trade
so seeing somebody turn 300 into you know a million dollars that's the type of advertising
we need to get people back in the space and then it happened again yeah so sci-, not to the same degree, but it was like a same day, 40X, 50X.
I saw someone put like 2K in and it was worth 600.
There's good opportunities.
Like, it's a very, very good time to pay attention.
Seems that way.
But at the same time.
Don't buy like Eric Adams, New York City token. If you see a if you see a politician dropping a token, especially if it's not a pump or,
you know, Zora or one of these tokens that have some type of liquidity guarantee, like
get the fuck away from it.
That that was crazy yesterday.
I still can't believe this happened.
Were you?
I mean, I can definitely believe it happened.
It's one of the most believable things ever, but it disgusts me.
I did not believe it.
It's like, I didn't tweet about this yesterday
because I was like, this can't be real.
Like Eric Adams isn't, he's not even the mayor.
So why is he watching this token?
And then you see the chart.
We talked about it on FOMO.
It went from 30 to 520 million in 10 minutes
uh which ended up being good i think because basically like everyone missed it
so like i don't know anyone who really got burned by this but like were you at the desk when this
was all playing out these like did you did you see this um so i saw it on fomo like i got these
alerts i'm like oh someone bought this nyc token at like 250 million or something or, you know, 100 plus million.
And I was like, well, this is the first time I've ever seen this token.
Like, is that a bug?
So I open it up and then there's a couple NYC tokens.
And then I go on Twitter and I see ThreadGuy talking about like, I can't buy this shit.
And I'm like, what's he talking about?
I thought he was maybe talking about PsyOpAnime or some of the other tokens that were running.
And then like 10 minutes
later i saw that eric adams thing come across the timeline and i was like is this this real this
this video and then i think like five or ten minutes later it rubbed so i never thought to
buy it i was just kind of astounded that it was happening uh i can't like i watched the video it
didn't look like ai like i've watched a lot of ai video like i don't
know it didn't give me the the uncanniness that like an ai video normally gives me within like
five seconds so it felt real to me uh it was very real and so was the rug pull when they pulled
the quitter did anybody in your circle get hosed on this because this is like a worse than libra
situation and i know that was not great uh i don't
know if anyone in my circle got hosed in this but uh yeah not good i don't i don't think it's worse
than libra no no not worse but similar vein yeah and like maybe the drawdown might be
technically worse i haven't sat down and done the math.
I feel like less people were in this.
And I also think it was rejected immediately.
It's like no one was rooting for this.
So where Libra was a pretty big black eye,
I don't think this is really a black eye.
I think this is just a strange thing that happened.
Maybe a few folks will run with it,
but I think we won't even be talking about it in a week.
I want to come back to XMR versus Zeke.
So they flipped Zeke had its run to 700,
750,
what no late November.
And it's since been consolidating,
grinding down to three 80 live,
but it's a privacy, nemesis, Monero.
Wow, so this past 700.
So yeah, it hit 700 here in the past few hours.
It's hanging out at 660 right now.
It's totally parabolic.
It's up 50% on the week.
Have you been trading this one?
Are you hedging Zeke?
How are you feeling about these two?
Yes, I bought some Monero.
I was talking before the show.
I wanted to buy a very big bag of Monero.
I downloaded the wallet on a new laptop,
and I waited like two days to sync my fucking node,
and I sent some money over.
The money just shows up and then doesn't show up.
And then it shows up and then it doesn't show up.
So I only bought like 5% to 10% of the size I wanted of Monero.
I have some, which was great.
But I do not have as much as I wanted to have.
And in hindsight, I should have just bought it on like Kraken.
I think that's the best American exchange to buy it when I was looking. But I wanted to actually and in hindsight i should just bought it on like kraken i think that's the best
american exchange to buy it when i was looking um but i wanted to actually own it in the wallet and
i didn't want to use a light wallet because i feel like the main benefit of monero is the privacy
aspect and if you're using a light wallet it's a little less private because you're kind of
outsourcing your node to somebody else um so i went through downloaded the whole fucking 100 or 90 gig chain
on this laptop and just got spooked by how it would not show me my balance and just show I have
zero. And it would tell me everything's up to date and I'd have zero. And then sometimes it'd be like,
oh, your balance is there. There's your money. And then other times it was zero. So I didn't want to
put a big, big load into it. But it does feel pretty obvious.
You had Zcash go from like $50 to $800.
And Monero was still not even at its old all-time high.
Anyone I know who does anything even partially illegal who cares about privacy, they all use Monero.
None of them use Zcash.
So if you really care about privacy,
I do feel like it's still the best privacy token.
So I'm glad that, you know,
common sense prevails here and it's going up
because it would make sense after Zcash run for this to go.
I am very curious what happens now.
Do the two meet in the middle somewhere?
We also have to mention the Zcash devfud.
There was like a little bit of a dispute. And I was like reading it in the middle somewhere we also have to mention the zcash dev fud there was like a little bit of
a dispute and i didn't i was like reading it in the hospital while i was on like six minutes of
sleep so i could be butchering this but as far as i know like the devs who were working left the
uh main company but they're spinning up their own company that's still working on zcash it's not
like they're like just leaving this zcash ecosystem
so there's not as much of like a what's the word like a brain drain as you would think if you have
all these tenured devs leaving um but i think in combination of like that whole debacle and then
the xmr price it's like just been a little bearish for zcash. So I'm still holding a decent amount, but I'm not super...
I don't have strong conviction if this is going to go to 300 and chill
or if it's going to go back up to 550 plus and meet Zcash or meet Monero.
My guess would be that Monero keeps running for a week or two.
And then maybe there's some type of equilibrium,
but I think the monero run is still
i mean i hate to say early because it's it's just parabolic and it's probably not early but it feels
like it'll last more than um a couple days because this thing if you just look at monero on like uh
the five plus year time horizon on tradie or something like it's when things break out of like multi-year consolidation those
runs normally last longer than like a week or two but maybe this time this is this is the top
yeah that's mando's view on it as well he just he wanted to get in position for the multi-year
breakout and he was right it certainly paid off we talked to Mert as the
Zeke fund was breaking last week how did that go it was good he this was before it had all really
been confirmed it was the morning of he kind of came out and said these these folks basically
don't want to work under this legacy Zeke institution almost almost like a DAO.
This is an old model.
There are limitations and constraints on it, and they just didn't want to work on that in that infrastructure anymore.
So they left that, formed up on their own, but it's all the same people,
all the same initiatives, all still building towards Zcash.
And the CEO came out and said the same thing a few hours after that.
So basically confirmed everything Mertz said.
So it really was FUD.
So the sell-off didn't really make sense, but I think you kind of nailed it.
It's more of like the rotation to Monero's in the spotlight now.
So hard to see ZEK pumping again until Monero cools off
is my read I did buy the
Zeke FUD
but I should have bought
Monero I guess
time basis
I've been looking for an entry right
because like I had been in the trade
in 2025 was a nice trade I did
close the position and I've been wanting to get in
it had been about 500 right it was hard to chase there so when when i saw the 20 fud dip to 400 like this is the entry dude i thought
something like catastrophic happened because like i said we were on like day two or three of the
baby being born and i refreshed i have this like trading view widget on one of the pages on my phone
where it just has like i don't know 16 or 20 bags of mine and I looked at the
zcash thing I was like is that right like is that is that pulling the right price like it was like
500 last night now it's 380 or something and then I went on Twitter and it was like yep sure shit
that that is right that is not me being a hallucinating dad like I thought there's like
a technical problem like I'm like oh did they like
figure out that it's not private or something like what what happened
but normally i mean those are decent opportunities it is kind of weird to see i mean not weird but
it's not great to see that we're still hovering around the bottom of that wick um you would have
hoped that would have been more of like a V recovery. Yeah, not the best looking chart.
Rounding this out, a couple of ICOs this week.
The Fogo chains, they're TGE-ing on Friday.
They have a small ICO.
They're raising $7 million on Binance at $350.
And then Football.Funt, FunToken is launching Thursday.
So a few ops happening later this week.
Are you participating in any of these or planning to
not fogo i just don't know enough about that chain i think i'll be happy just kind of watching
it is notable they they dropped from 1 billion to 350 uh on a valuation standpoint um
fun i think is very interesting so i'll be watching that one closely on thursday
when it comes out of the gate recently some of the icos have been weaker like the metadown one
didn't do well i think trove didn't do well last week so you still have to pick your spots it's not
just uh throw darts at the ico board right now yeah in print um I do think fun is interesting.
And then MegaEath,
whenever people are expecting
MegaEath still this month,
that will be an interesting one,
but it's going to be so high.
I don't know if there's necessarily
a near-term trade on that.
What has been a trade,
you may have missed this
while you're in the hospital,
these Clone X.
I didn't miss that, buddy buddy i did not miss that we um yeah
i'm in a position where i might need to sell some of these so i was i was very aware of what's going
on from totally dead so what were they so what's the so what's the bull case here like what would
be the most beneficial thing to happen like who buying this would make the price go up the most we have a
uh like 20k supply collection um you know murder commies involved but in my head it's like even if
they announce they're gonna do a token this thing is probably not even gonna go over one eth
unless it's like murakami is buying it out and teaming up with some massive player but like I
don't I don't see it happening like I look at um the Moonbirds acquisition as a comp right and I
think the Moonbirds acquisition was one of the best I mean probably the best case scenario for
Moonbirds it went to somebody who is very token oriented who also wanted to use the ip
to build a bunch of physical stuff for the brand um and i don't i mean they went to what like three
eth it was the the 3.7 yeah 3.7 3.8 and there's 10k moonbirds so in my head it's like okay take
50 off that you got the 20k uh clones that's like the best case scenario but i
don't think that it's going to happen because i don't think that the acquisition is going to be
nearly as good of a fit as the moonberg's acquisition was um so it's tough i'm not a
buyer of clones on the speculation we were chatting and would it be uh the original founders
perhaps buying it back for like a penny on the dollar or effectively
taking it over for free I don't know how the market would react to that it's kind of I think
they would sell it I think they would sell it I mean who's the buyer I don't know like I I was
trying to think like what would be the best case scenario is the buyer and for some reason I just
like thought well Miracom spent, I think over 10 million
buying his own clones back.
I wonder if he would just
buy the whole thing.
I think he could buy it
for cheaper than that.
absolutely.
Yeah,
he could definitely buy it
for cheaper than the clones he bought.
But I don't know
what he would do with it
to make it.
I mean,
half the collection
isn't even like Murakami trip,
right?
Like,
so I don't know.
And then the other
NFT headlines quickly
as we close out the show here we'll get our giveaways gdc baby as our director of vibes
yeah good vibes at a 50th sale shout out adam whitesman this guy's putting the nft community
on his fucking back this is like uh prime lebron trying to carry the nft community here he bought that 50 eth bigfoot like 30
eth more than the second uh highest 101 sale i think it is their most popular or is it their
most popular 101 i feel like that's the one i see in more of their like gifts and promo stuff than
any other but i i know i have a good amount of good vibes i got the vibe stir token uh that's doing
decently um it's not i don't even think it's 50 of the old all-time high yet so
it would have been probably better just to buy floors because those are pretty close to all-time
high but yeah i i like to see it man adam's doing doing the lord's work. Nice little run. So it's fun to see a little bit of action.
It's nice to see the not floor cell.
Like I think that's one of the core things
about this collection is
some of these cells are, you know, ceilings.
It makes me think of the old
floors are for flippers, ceilings are for fans thing.
And this collection has a good amount of fans.
Yeah, we just need more fans.
Just need more fans.
Back in the game, Adam.
Don't need more flippers.
Well, cool.
We went around the horn.
I got to ask Peter a question real quick.
Peter.
Super Bowl champion.
Are you making any bets on the market here?
I feel like this is one of the more wide open years for Super Bowl.
You can get Denver at $0.10.
You can get Buffalo at $0.16.
You interested in any of these? Houston at nine.
Man, I wish Kittle did get injured. I think San Francisco is brutal, dude.
What's going on with the electricity shit, too?
Yeah.
At current prices, I like the Patriots the most. I'm in some survivors.
I did a bunch of these survivor contests.
So we'll see how that plays out.
New England is probably my favorite at these prices.
I'm saying about buying.
Huge Drake May believer.
I think he's an absolute stud.
And they're a really good team across the board.
Seattle is a favorite for a reason. They probably have the best team. But quarterback is a really good team across the board. Seattle is a favorite for a reason.
They probably have the best team, but quarterback is a concern.
I'm more bullish than Darnold than the market, but that's an interesting one.
And then the Rams still look really good.
They just have a tough, tough path here.
I mean, they'll be, they have a good spot against the Bears, but... Cold weather?
We worried at all?
Yeah, the Rams are going to have to go in on the road
and win against a divisional opponent.
Actually, who will be home, San Francisco or the Rams?
Maybe the Rams will be home.
Maybe that's a bad comment.
Yeah, we'll see.
I think those are the three teams I'm looking at.
Denver, Buffalo.
It's possible for sure.
I hope. I mean, Josh Allen, what an incredible game he played just getting beat up throughout the whole whole time so uh it's fun um but my least
favorite team is i don't think chicago has the defense to do it yeah i mean that the the magic
that they pull off in the fourth quarter they are by far the most fun team to buy at halftime or in the third
quarter when they are down like i bought some at eight cents and it fucking of course they win like
i just root for them because they're fun but yeah i like that a lot i think this is one of the more
wide open years for uh super bowl champs it's exciting it's like it's nice not seeing the
you know mahomes lamar hurts shit it's like, it's nice not seeing the, you know, Mahomes, Lamar,
Hertz shit. It's nice that it's just
wide fucking open.
It is fun to have the prediction markets
for these. It's like the playoff games were all
awesome. They're all super volatile.
So he's like, you got bears at eight cents
or something, right? Like that was
I also got Carolina at eight
cents and that looked kind of good until
Matt Stafford said hey
let's rip their fucking hearts out and shit on them um but it's just fun to bet on these
gate like anytime you can get a team in a playoff game under 10 cents like i bought the steelers at
like six cents last night when the score was seven to or 13 to six or something uh and yeah that
didn't work out obviously that was terrible but it's just fun
to make these bets because it's like buying a shit coin right it's like i'm buying a time
box shit coin where maybe i can hit over a 10x and if not it's great entertainment uh so i've
been really enjoying it just for that reason alone i'm with you so it'll be fun to continue to watch
and then we have this college football championship with IU,
my hometown.
Bloomington's not my hometown.
I'm rooting for Indiana.
I mean, they should on OSU.
I'm rooting for Indiana.
Should be a fun one down in Miami.
Well, we're at the top of the hour.
Producer Charlie, let's go ahead and pull up the wheel.
Let's do our giveaway again.
Folks who entered the code,
who are signed up on Yeet with the Morning Minute affiliate code.
We're going to do a $500 giveaway here today.
Looks like we've got the wheel.
Let's give it a spin.
All right, Dr.
I don't know this one.
Dr. Green Thumb.
All right, Dr. Green Thumb.
Congrats.
And he's here with us.
So thanks for being listening live.
You just won $500.
Charlie and the team will work with you behind the scenes to get that over to you.
I want to thank all of our listeners for tuning in today.
I want to thank my co-host, especially Dees. He's been home for less than a week, spending time with us.
So we really appreciate it. I got to catch up. I love this. I love this. I mean, this is where I
can, uh, you know, take a week off from being a dad and come back and learn about everything I
missed. So I love talking to you guys. It's been fun. And likewise, as always, folks, we'll be back
next Tuesday until then. Have a great week. And likewise, as always, folks, we'll be back next Tuesday. Until then, have a great week.
Bye.
Take care, everybody.
Insights
Token L
The upcoming launch of FunToken on Thursday represents a new opportunity for investors in the crypto space, highlighting ongoing innovation and interest in token offerings.
when it comes out of the gate recently some of the icos have been weaker like the metadown one
didn't do well i think trove didn't do well last week so you still have to pick your spots it's not
just uh throw darts at the ico board right now yeah in print um I do think fun is interesting.
Fogo Chain's ICO is set to raise $7 million at a valuation of $350 million, showcasing the continued interest and investment in new blockchain projects.
And then MegaEath,
whenever people are expecting
MegaEath still this month,
P
The DOJ's targeting of Fed chair Jerome Powell has significant implications for market dynamics, particularly in how it relates to interest rates and economic policy, which are crucial for crypto investors.
Fed chair Jerome Powell.
Jerome Powell immediately, seemingly immediately responded with his own message where he said in his own words that he is not being attacked because of his actions tied to this specific probe about the renovations, that it's actually just all about him not cutting rates fast enough in line with Trump's wishes and expectations.
So those two have been going back and forth a bit.
Gold and silver have seen remarkable price increases, with gold hitting multiple new all-time highs, indicating a strong growth trend in precious metals that often correlates with crypto market movements.
Stocks have been doing kind of just fine.
I think they're basically flat on the week. But arguably the biggest move has been gold and silver.
Gold hitting multiple new all-time highs.
The notable rise in silver prices, up 23% year-to-date, reflects a growing trend among investors seeking alternatives to traditional assets, which could influence crypto market sentiment.
insanely sticky in this 4-2 range. So going forward, we'll see who the new Fed chair is.
And I think the most notable move in markets from a macro perspective is metals, specifically silver.
I mean, silver is up 23% year to date.
