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UNDER EXPOSED: The Crypto Bull Case, Circle IPO and Top Trades
Recorded: June 10, 2025 Duration: 0:15:48Space Recording
Short Summary
In a lively discussion on Underexposed, the hosts explore the latest trends in the crypto market, including a bullish V-shape rally, significant token launches, and strategic partnerships, all pointing towards a thriving ecosystem. With the SEC clarifying regulations around staking, the conversation underscores a pivotal moment for crypto adoption and growth.
Full Transcription
Thank you. Thank you. Thank you. is here this morning, this afternoon, wherever you're at. We're here in just a minute.
I'm going to note that I lost the connection.
Hopefully it is coming back.
A couple of weeks start.
Renardo, Rob, having GM,
CJ, Harry Krishna, Nifty Blinders,
and Scrappy T,
Jazzy, Mike,
El Barto, GM.
Thank you for joining us.
We've got D's up on stage. I'm sure we'll get the other.
If the space is bugging out, folks, running the stream as well.
So you'll be able to jump into that stream with that.
Sims, whenever you're ready.
Let's kick it. Thank you. GM, everyone, and welcome to episode 29 of Underexposed, our week's growth show, hitting all the biggest topics and trends impacting crypto and broader web 3.
Today is June 10th. Folks, it has been an electric week.
Last week ended, we had the Trump versus Elon fight, big market sell-off, then a major V-shape rally, and now we're
rocking on high again.
And the question, is this the real breakout rally, or are we still in the chop zone?
We're going to break it all down on today's show.
I'm your host, Tyler D. I've got my co-hosts in the house, starting with D's, Art Collector
CoinStack, are still rocking that Rectat.
The Rectat's getting more valuable by the day.
Jim, how you doing?
You might be on mute.
I'm still muted?
No, you're good.
Okay.
Yeah, this Rectat just gets more and more valuable each show.
Absolutely.
I don't have another hat that I can justify wearing.
So glad to be wearing it and proud of the rec team.
But for Art Basel last year,
I stashed away multiple rec hats and multiple of them were taken during
events.
So I am rec'd hat less and I'm not happy about that.
I mean,
this is one of my like top three favorite hats.
Honestly,
these,
this and the puppet one are what i wear most
of the time and i gotta give a quick call out to action i'm still waiting on my yeet hat i'd be
rocking my yeet hat yeah that's what i'm rocking where is ben i'll ping him we need to get you this
hat we got off the bulls hat dude the a5 sniff it got to get that hat off.
This is my green on green,
green bull market hat.
It's bigger than just the Chicago Bull.
Rooting for the Pacers. I'm going to be down in Indy.
I'm going to try to go to game four.
Nice.
Hoping that game three
is very happy they stole game one.
I was a little bit concerned that, you know,
going into the series, Pacers are, what, eight to one underdogs?
Might just get steamrolled.
It's at least going to be interesting.
Yeah.
They've been an incredible team, and that should be a lot of fun regardless.
I mean, 2-1 will be the – it's going to be a game if you can make game four.
Yeah, it'll be like a make or break game for the Pacers
or they'll have the chance to potentially go up 3-1.
Exactly.
So it'll be a big one.
Well, folks, we're talking about more than just the NBA.
Well, I guess, Peter, I haven't had a chance to say GM to you.
How are you doing?
I'm great, man.
Excited to be with you guys.
The Green Bull hat is appropriate for things that we're looking at
crypto, AI, nuclear
stocks all just
ripping right now so
it's more fun to do these
shows when things are going well but yeah
excited to get into it and chat through a variety
of things. It's an interesting
show we were talking about it with
the FOMA crew it's a
bull market everything's going to participants.
At least that's the feel from looking at things like newsletter subs,
from Twitter growth.
So it's kind of a,
there are signs that that reach here are really interesting in what we're
talking about.
So maybe we'll talk about that a bit on today's show.
We've got a lot to get into.
We're going to talk about macro topics. We're
going to talk the crypto bull case summer 2025. We're going to talk ETH, if it's ETH season,
the circle IPO reactions. We're going to talk this pump fund token and how big this thing
is going to be and if we get asthma yesterday. And then we're going to talk some of our top
trades as well. Before we get into it, quick disclosure. The information expressed on this podcast are those of the speakers, reflect the views or opinions of
any organizations they are associated with. We are here to share insights, provoke thought,
maybe even stir some debate, but this is 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 professional.
I'll get into it.
I'm going to fire up the screen share here.
And go around the horn on a few of the macro stories here to start things off. So I think the biggest from last was
I don't know if Elon was
on a drug-fueled rampage,
but he was going back
and forth with
calling, saying that Trump
went into Epstein Island. He said the tariffs were going to cause
a recession.
He since has walked back some of those. There are some saying that perhaps that was calculated.
So Morgan Stanley just said they believe that that was perhaps a set up altercation.
So we'll find out maybe. I don't know if we'll ever find out if that is the case. But as we have V-shaped recovered since then, we've got CPI coming tomorrow.
I think that's the big macro metric or data point to watch here this week.
The truflation numbers trended from January all the way really to May, but they have come back up about a percent or
so. So we'll see if that is reflected in tomorrow's print or not.
The intro have been broadly green, AI rallying, uranium rallying, and certainly crypto has
been rallying as well.
We had a blockbuster IPO came out $31 a share, hit 130, I want to say, at peak.
So just massive, massive success. Pumped Fund, they're seeing that success and saying,
we'll do our own token sale. Not an IPO, but a pre-sale, rumored to be at a $4 billion valuation,
a $1 billion presale.
So I'm sure folks have got some thoughts on that.
And another sign of broad crypto adoption, huge, another blockbuster headline, X, Twitter,
has officially partnered with Polymark to be their official prediction market.
Expecting to see a whole lot more prediction market integrations and embedding within Twitter posts.
So that's going to be a big one.
And then, yes, got the ETH bulls all riled up, folks.
SEC Chair Paul Atkins basically said, we're going to get it out of DeFi's way.
We're going to specifically mention staking and that staking transactions are not securities transactions.
So folks are certain about that.
As for our coins, you know, the V-shaped recovery pulled up.
We had 110K Bitcoin.
Look at the numbers were up 2% from last week's show.
It feels like we're up more than that.
And then ETH is only up about 4%.
Solana is actually red, which is a bit surprising that's our macro backdrop peter i'm gonna toss it over to you
kind of curious for your thoughts on the macro kind of what's jumping out to your thoughts
the trump elon debacle or kind of what's top of mind here today yeah you know buying the dip gets rewarded again uh on the elon um we'll see what
comes out but uh i do appreciate elon uh calling out uh the fiscal situation that we're in which i
think is still you know one of the main overarching issues that uh you know we're going to continue to
face in the u.s and around the. That being said, there's a lot
of cross currents and kind of the way I'm looking at things now is just trying to ignore some of
there's so many things again, that are cross currents, it's hard to figure out exactly what's
happening from a macro standpoint. What I'm looking at and what I think is kind of the big change and
what we've seen reflected in the markets after, you know, the austerity comments coming in with
this administration is
that we're going to try to grow our way out of this. We're going to continue to be spending.
I mean, this bill is going to be more and more spending. Besson is basically saying
growth is our best chance. So it just means things are going to go up from a nominal perspective.
and out of this.
So it just means things are going to go up
from a nominal perspective.
And right now, if you just look at how market's behaving,
that's going to be unbelievable.
Crypt is really well.
AI is continuing just full speed ahead.
And even when we had some of the turmoil
and obviously the sell-off,
none of the companies backed down
in terms of their
uh to ai so ai like energy um specifically nuclear is doing well and uh yeah i just think
the main signal of this is that it's going to be the same in terms of how to tackle this fiscal
deficit they're going to continue to spend because that's the political popular thing to do and hope that out of this or have a huge disinflationary force
productivity force with AI. So from an algorithm standpoint, I think you just want to continue to
appreciate nominally and I expect fiat currency to be worth less and less over time.
So inflate our way out of the Thank you. Thank you. if you unmute all right Alright. We're having some technical difficulties.
We're trying to figure this out.
Tyler's stream yards messed up.
And our stream yard stream crashed.
