Latest / CRYPTO 101 / Crypto Rundown: Clarity Act Update: Did Banks or Crypto Win & What It Means for Bitcoin

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Crypto Rundown: Clarity Act Update: Did Banks or Crypto Win & What It Means for Bitcoin · CRYPTO 101

0:06
[SPEAKER_02]: Alright everybody, welcome back to the crypto rundown crypto regulation might not sound exciting but what happened in Washington DC over the weekend with the Clarity Act is quietly changing the entire industry because for the first time we're starting to get real framework for our Bitcoin Ethereum and all your favorite crypto assets including stable coins are actually going to be treated into the United States and depending on how this plays out it could unlock a massive institutional money and funds of flows
0:35
[SPEAKER_02]: So, you might think this is going slow.
0:37
[SPEAKER_02]: We've been talking about it for a while, but things are heating up.
0:41
[SPEAKER_02]: So, let's break down.
0:42
[SPEAKER_02]: Let's just change.
0:44
[SPEAKER_02]: And what we do with our friend, Brian, by welcome back to the show.
0:47
[SPEAKER_02]: We're going to dive right into the clarity market.
0:50
[SPEAKER_02]: First thing today.
0:51
[SPEAKER_02]: instead of going over our normal thing because I thought it was such a big update again of this leaking out leaking out and then of course shameless plug if you listen to the crypto 101 podcast you got some great alpha on that polymarket couchy bedding market dips on these odds that we gave out last time you're on.
1:10
[SPEAKER_01]: Pretty to us, man, another great, you know, little soft call out by us in the last rundown, but this clarity act news is starting to come to life.
1:18
[SPEAKER_01]: We're starting to get some real traction here, so excited, excited to see what happens, but we'll go over the details, but exciting times.
1:26
[SPEAKER_02]: Yeah, what stuck out to you the most to think for me, um, obviously the first thing was the betting market odds that started creeping up, which is always exciting.
1:35
[SPEAKER_02]: But for the most part, it was the leaking out and it was a lot of the, you know, the Republicans, the Democrats that are working on the bill.
1:43
[SPEAKER_02]: It is a bipartisan bill in my opinion.
1:46
[SPEAKER_02]: as I pull up here.
1:48
[SPEAKER_02]: Sorry, my software is even a little bit of problem, but the clarity action moves closer to the law and stablecoin.
1:53
[SPEAKER_02]: So stablecoin was the number one thing that was being debated or argued if you will, because stablecoin rewards, the banks were worried of deposit flights because if you could just give out large rewards for holding stablecoins, which is basically they were arguing the same as a bank account.
2:11
[SPEAKER_02]: uh... they're gonna lose a lot of uh... deposits so there's a deposit flight risk for the bank and so there's a lot of back and forth uh... if we remember the story line first the first big uh... we're not we don't like where this is going uh... it was Brian Armstrong from coinbase
2:27
[SPEAKER_02]: And he said, you know, hey, like I don't like the markup of this bill, and then I'm sure some things were some phone calls were made, some meetings were held in back rooms.
2:36
[SPEAKER_02]: And then he, he seemingly changed his tune and said it was going in the right direction.
2:41
[SPEAKER_02]: And I thought it was interesting over the weekend that I saw a tweet from him that said, Mark it up.
2:47
[SPEAKER_02]: So he's on with it.
2:49
[SPEAKER_02]: I think from from my perspective before I hand it off to you.
2:53
[SPEAKER_02]: It's always, you know, who won, who wins and who lose, who lost, right?
2:57
[SPEAKER_02]: Who's going to win and who's going to lose?
2:59
[SPEAKER_02]: I think if you have to, I mean, we were the crypto creators, right?
3:04
[SPEAKER_02]: We've been here for a long, long time and, you know, it feels like the banks are swinging their weight and the banks are getting a little bit more than what they are more of a win maybe than the larger retail audience, because I've always said, like, hey, these, these are
3:23
[SPEAKER_02]: wiring money and how it takes two to three days and how you get literally nothing in your your bank You know you get no interest on the money in your bank account and then you go to your local bank for your More religion.
3:34
[SPEAKER_02]: They just loan it back to you and there's fractional reserves and they take one dollar in times up by ten We've all covered that so it feels like the banks are winning a little bit here
3:43
[SPEAKER_02]: But I think there's a lane for innovation and so I want to stick to the positive here.
3:48
[SPEAKER_02]: I saw I saw mixed reviews.
3:49
[SPEAKER_02]: I think most people were pretty positive on it, but there were some I'll pull up a tweet later if somebody who said he wasn't a fan of it.
3:56
[SPEAKER_02]: I think there's lane for innovation.
3:57
[SPEAKER_02]: I don't think that lane super clear, but there's lane for innovation to make these quote-unquote active rewards to give back to, you know, people that want to participate.
4:08
[SPEAKER_02]: But what's stuck out to you the most?
4:10
[SPEAKER_01]: Yeah, really exciting update, Tvo, as you said, and so I think this happened what like Friday, we started to get the language was leaking out.
4:18
[SPEAKER_01]: It was a Republican Senator for Republican Tillis, and then a Democrat, Senator, also Brooks from Maryland, and they released this final, stablecoin, yo'd compromise after literally months of talks.
4:32
[SPEAKER_01]: And banks were at the table for these talks.
4:34
[SPEAKER_01]: It's not like they weren't involved, and they didn't know some of this.
4:37
[SPEAKER_01]: language.
4:39
[SPEAKER_01]: So what this language basically said is this guy banned passive deposit like yield interests paid for just holding stable coins.
4:47
[SPEAKER_01]: So that's a win for the banks.
4:49
[SPEAKER_01]: The banks don't want you to just hold USDC doing nothing.
4:53
[SPEAKER_01]: in earning yield and okay we're going to compromise on that from a crypto side of things that's a win for the banks and people need to realize that that's a pretty big win for the banks but it also says in that language that allows activity based rewards tied to real usage so is that payments?
5:10
[SPEAKER_01]: is that trading?
5:11
[SPEAKER_01]: is that transfers?
5:12
[SPEAKER_01]: is that staking?
5:13
[SPEAKER_01]: and that's a win for crypto so you're getting rewarded by utilizing the crypto platforms which is a huge win for crypto
5:21
[SPEAKER_01]: And then we had a lot of these crypto industry leaders are the coin bases the circles trade groups immediately endorsed it and they're pushing hard for the mark up right now so that's really exciting news and hey credit to us.
5:37
[SPEAKER_01]: Love saying that because I feel like we could say it a lot is that there was a couple months ago I remember talking about it and this is whenever like Jamie crypto diamond was like, you know Firing off a if you want to be a bank be a bank and Brian Armstrong went running the Trump on that Monday And people were saying that the clarity act look close and I was like Tibo It doesn't feel close at all.
5:56
[SPEAKER_01]: I mean this feels like they're they're arguing over the stable coin yield And we nailed it because a lot of people were I think clarity act was like 60 70 percent to happen then in a crashed
6:05
[SPEAKER_01]: It just felt like there was a different vibe in the room.
6:08
[SPEAKER_01]: I am now on the side that this is going to get done.
6:11
[SPEAKER_01]: I don't have a crystal ball.
6:13
[SPEAKER_01]: I don't know.
6:13
[SPEAKER_01]: I obviously have some exposure from one call last week, so I'm hoping it gets done.
6:18
[SPEAKER_01]: I think it absolutely needs to get done because we want to be an innovator in the crypto world.
6:24
[SPEAKER_01]: But this is pretty cool.
6:26
[SPEAKER_01]: When we were talking about that a few months ago, I kind of was like, hey, there's really no real compromise on this stable coin yields.
6:32
[SPEAKER_01]: You know, someone's going to kind of walk away a little better.
6:35
[SPEAKER_01]: Yeah.
6:36
[SPEAKER_01]: I think this is as close as a compromise as you can get because you're not going to get yield for just holding it.
6:41
[SPEAKER_01]: You actually have to be involved in the protocol.
6:43
[SPEAKER_01]: You have to stake if to do some things.
6:45
[SPEAKER_01]: I think that's going to be very difficult.
6:47
[SPEAKER_01]: I don't.
6:47
[SPEAKER_01]: I think staking on these platforms would be very easy and it give a really great opportunity.
6:52
[SPEAKER_01]: For retail and regular people to earn massive yield, and I'm all about that and that's a big reason we're in crypto now fast forward So we get this announcement on the first and second part odds on Pauli market are absolutely skyrocketing and then did you see this report?
7:08
[SPEAKER_01]: Yesterday that major banks the American Banking Association they basically pushed back publicly
7:15
[SPEAKER_01]: and they called the language insufficient, I believe, was the word, and they warned of loopholes and said it could pull away from deposits and loans from banks and promised detailed edited suggestions.
7:28
[SPEAKER_01]: And I was reading that and I was like, wait, haven't the banks been at the negotiating table this entire time and we have the Republicans and the Democrats
7:36
[SPEAKER_01]: kind of shaking hands across the aisle that never happens and they kind of come out with a as good of a compromise as you can, so I'm excited.
7:43
[SPEAKER_01]: Then we got to that ABA and these major banks coming out and saying like, hey, we don't like it.
7:48
[SPEAKER_01]: Kind of pissed me off, not gonna lie, but it is what it is.
7:52
[SPEAKER_01]: And then it's tell us and also Brooks, these are the two main senators that are involved, ones are Republican, ones are Democrat,
8:00
[SPEAKER_01]: stood today and they literally I think it was a tweet they said we respectfully disagree and and call it basically like hey we're moving forward with this deal we look at it as pretty much final so it doesn't sound like they're going to reopen the deal and it's going to go to bipartisan on negotiators moving forward.
8:19
[SPEAKER_01]: Now of course we're going to get some more trickling out here from you know the American Banking Association and how they don't love the language
8:26
[SPEAKER_01]: But personally, I think this goes to mark up.
8:29
[SPEAKER_01]: I love when Brian Armstrong came out and they seem okay with it.
8:33
[SPEAKER_01]: They're CLO came out and said they seem okay with it.
8:36
[SPEAKER_01]: Democrats and Republicans on both sides seem like okay with it.
8:40
[SPEAKER_01]: And then even Trump said, hey, right when I get the clarity act, I'm going to ink that right away.
8:44
[SPEAKER_01]: Yep.
8:44
[SPEAKER_01]: So I think this, I think this is close.
8:47
[SPEAKER_01]: It's just kind of a gut feeling.
8:49
[SPEAKER_01]: But it sounds like the markup is expected.
8:51
[SPEAKER_01]: This early is next week.
8:54
[SPEAKER_01]: And if that passes, it goes the Senate floor in June of July.
8:57
[SPEAKER_01]: And then we might have a neat deal.
9:00
[SPEAKER_01]: And the June beginning of July, which I think will be
9:04
[SPEAKER_01]: We know it's a big catalyst.
9:07
[SPEAKER_01]: I don't think we are going to understand how big of a catalyst this is going to actually be.
9:10
[SPEAKER_01]: I think it's going to be huge.
9:12
[SPEAKER_01]: So fingers crossed it sounds like the banks are not in love with the language, but and they've been they've been eating their cake for the last 100 years.
9:22
[SPEAKER_01]: You know, give the crypto bros a little love here.
9:26
[SPEAKER_02]: Yeah.
9:26
[SPEAKER_02]: Not I'm I'm all in for getting love, especially for kind of how we've covered this as a program again completely free for the YouTube and the podcast you were watching the I remember this very vividly you were watching Brenner and I and some news came out here in January and and it dipped down here into the 30s it got down to 30 is like 37 on air it was live on air I remember that live to yeah
9:51
[SPEAKER_02]: Yeah, it's live on here.
9:52
[SPEAKER_02]: We're watching it.
9:53
[SPEAKER_02]: We were like, oh, we were saying I remember this.
9:55
[SPEAKER_02]: We're like, oh, yeah.
9:56
[SPEAKER_02]: It's a 50 50.
9:57
[SPEAKER_02]: We're talking about the clarity act.
9:58
[SPEAKER_02]: Like, oh, 50 50.
9:59
[SPEAKER_02]: This is in January this year.
10:01
[SPEAKER_02]: So we're like, oh, 50 50.
10:02
[SPEAKER_02]: It'll get done this year.
10:03
[SPEAKER_02]: Something to watch.
10:04
[SPEAKER_02]: And then very, I pulled the polymer.
10:06
[SPEAKER_02]: And it's down at like 37.
10:08
[SPEAKER_02]: And I'm like, what's it been?
10:09
[SPEAKER_02]: I'm looking at him.
10:09
[SPEAKER_02]: I'm like, I don't know.
10:10
[SPEAKER_02]: There's some like one negative headline on it.
10:11
[SPEAKER_02]: And I just remember saying I was like, well, I was like, that haven't, doesn't seem like that wanted for a drop.
10:13
[SPEAKER_02]: Like, I would pick some up here and you will watch him live and you're like, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah,
10:24
[SPEAKER_02]: So I'm going to put some on that call and then you got to write that 37 all the way up to 80% So boom you could you kind of change that out of that at the time like great call and then again We were on the pod then it was me and you last week.
10:36
[SPEAKER_02]: We were back down back down to 42
10:39
[SPEAKER_02]: Back down to 42, we said, hey, I'm picking up.
10:41
[SPEAKER_02]: We've got to, if you're listening to that episode, we put a modular mouth as we have open contracts on end of year.
10:48
[SPEAKER_02]: So we got the end of year at 42.
10:50
[SPEAKER_02]: I mean, I even bought before August 1st.
10:52
[SPEAKER_02]: So we bought the before August 1st contract.
10:55
[SPEAKER_02]: So there's the crypto one-on-one, most contracts are for the people.
10:58
[SPEAKER_02]: And it's something that will cover the rest of the storyline, obviously.
11:02
[SPEAKER_02]: So how it's chat today for us not promoting.
11:04
[SPEAKER_02]: How's everybody doing out there?
11:05
[SPEAKER_02]: If you could give the video a like send it to a friend and if you're new check out the bottom right it's our logo hit subscribe Hit the comments.
11:13
[SPEAKER_02]: Let us know Hit the chat.
11:14
[SPEAKER_02]: Let us know where you're watching from.
11:16
[SPEAKER_02]: We always love to know where everybody's tuning in from Chris Perkins
11:21
[SPEAKER_02]: who were actually going to be interviewing next week, I believe, is coming on the show.
11:25
[SPEAKER_02]: And he says that in Chris Perkins formula of coin fun that got bought by Franklin Templeton, he's going to be the head of digital assets, which is super exciting to get him on the show.
11:35
[SPEAKER_02]: And he says the declarative doesn't pass.
11:37
[SPEAKER_02]: He's now worried we'll be just fine.
11:39
[SPEAKER_02]: And he had actually some thoughts of something in the bill that he wasn't the biggest fan of.
11:45
[SPEAKER_02]: So just a teaser there of we're going to have, we're bringing people on to talk about this.
11:49
[SPEAKER_02]: You know, obviously their rundowns are super fun, but we, uh, we always try to bring the best in the industry as well and we recorded some absolute bangers of a podcast this week.
11:59
[SPEAKER_02]: Uh, just a little teaser there.
12:00
[SPEAKER_02]: They'll be coming out next week.
12:02
[SPEAKER_02]: So stay tuned and then the final thing for me on this.
12:06
[SPEAKER_02]: Um, is why it needs to get done now.
12:10
[SPEAKER_02]: I mean, I'm not saying that it will get done, but basically it's it's uh, the Senate majority uh, for the fall.
12:17
[SPEAKER_02]: When this, when this, the election, the midterms take place, like you don't know what you're going to be looking at on the other side, it is by partisan bill, so it has more, uh, more chance of to get done than most, I think.
12:28
[SPEAKER_02]: But if this was from Alex Thorn over at Galaxie, and he was saying that if the Dems take down for our Brown, and they could take back the Senate Banking chair.
12:41
[SPEAKER_02]: So if they take back the Senate Banking chair, it'll go back to Elizabeth Warren, which obviously is a crusader against crypto.
12:50
[SPEAKER_02]: And apparently doesn't like Spirit Airlines too, because she ran that one into the ground pun intended.
12:56
[SPEAKER_02]: So I thought that was interesting.
12:58
[SPEAKER_02]: That's why it is something that if you I think you should root for it to pass if there's stuff that you absolutely hate it, then yeah, you shouldn't root for it to pass, but it feels like we're up against the clock here.
13:10
[SPEAKER_02]: So if you want some clarity, if you want clarity passed now, now seems to be the time.
13:17
[SPEAKER_01]: Yeah, I've been screaming that for months now that we we need this done before the midterms in I think it's going to be a big move.
13:23
[SPEAKER_01]: I'm certainly going to turn in to Chris parkins.
13:26
[SPEAKER_01]: So I love that call for the podcast people.
13:28
[SPEAKER_01]: I'm going to be turning in whenever you guys released that because I'm interested to see his thoughts as well.
13:34
[SPEAKER_01]: And if the clarity I doesn't.
13:36
[SPEAKER_01]: happen.
13:37
[SPEAKER_01]: I don't want anybody to freak out like we're going to be fine.
13:40
[SPEAKER_01]: You know, there's been a lot of other issues out there with crypto that we've just survived through.
13:44
[SPEAKER_01]: I think it's just to realize how big of a bill this is going to be for our industry.
13:49
[SPEAKER_01]: And we just want to get it done because once you once you get this bill done, we know pun intended, but we've clarity, a lot of these institutions,
14:06
[SPEAKER_01]: Who that heck knows what's going on in Iran right now?
14:09
[SPEAKER_01]: I can't even keep up with the back and forth headlines And then daddy Bitcoin is just chillin it like eighty thousand dollars So it feels like we're just like kind of like so and then that doesn't even mention like what Michael Sailor's been doing I mean his buys I mean they're massive and he's continuing to buy and with stretch and that's just eating up to the sell pressure the sellers are gonna run out
14:33
[SPEAKER_01]: And then would they get this clarity act, hopefully done.
14:36
[SPEAKER_01]: We're sitting at an $80,000 Bitcoin with a hundred-dollar...
14:40
[SPEAKER_01]: Oh, barrel of oil, like I didn't really think this was going to shake out this way, but I'm I'm I'm always the permissible, but I'm a little bit more bullish today than I was last week and I'm super excited where we're heading in this clarity act bills like the cherry on top for me.
14:56
[SPEAKER_01]: Let's make it happen.
14:57
[SPEAKER_01]: Let's get through it.
14:58
[SPEAKER_01]: And I love the tilless and also Brooks comment back to the banking association when they're basically like
15:05
[SPEAKER_01]: You guys have been at the table for the past like months like you know what was happening like we agreed to disagree we're moving forward I'm like yeah like the last thing I wanted here is like we're going to revise this but they were like no we like where this stands and we're moving forward So I think these clarity act odds are in a good spot
15:23
[SPEAKER_02]: Mm-hmm.
15:24
[SPEAKER_02]: I think so too.
15:25
[SPEAKER_02]: I mean, I put my money where I'm out with it.
15:27
[SPEAKER_02]: So you know I stand on it.
15:29
[SPEAKER_02]: I think it gets done and I think it's it's exciting times and it's where it's where this is going.
15:36
[SPEAKER_02]: We just had Nick carry on these co-founder of blockchain.com and he was he was reminiscing.
15:43
[SPEAKER_02]: We asked him a question.
15:44
[SPEAKER_02]: It's not a spoiler, but like a little teaser of like what do you miss about the old days and I
15:49
[SPEAKER_02]: he missed being like, you know, it was us first the world and now it seems like the world's joining us and there's a lot more negotiations and things that have to happen at the table to get things done, but that's the the the results of a maturing market and, you know, that's obviously clearly where we are.
16:06
[SPEAKER_02]: And so I thought it was interesting, you know, how can you play the Clarity Act?
16:10
[SPEAKER_02]: Obviously you can play the, um,
16:13
[SPEAKER_02]: the polymarkets and the cowshees, the bending markets of the world, you probably, you missed your 50% that could have been a double for you.
16:22
[SPEAKER_02]: But then there's stocks.
16:23
[SPEAKER_02]: We saw circles, the biggest winner, circle was up to 10% the next day.
16:27
[SPEAKER_02]: Coinbase was up about seven or eight and then Robinhood, I think, was up four.
16:31
[SPEAKER_02]: Those are the ones, you know, the crowsly tide cryptos stocks were moving on this news.
16:36
[SPEAKER_02]: Then even today, there was an announcement from Coinbase,
16:40
[SPEAKER_02]: that they are cutting 14% of their workforce.
16:43
[SPEAKER_02]: So there was an email that went out to a lot of, I guess, all Coinbase employees, letting them know and certain ones were informed that their time at Coinbase is ending.
16:55
[SPEAKER_02]: And I think Brian had a long post about why a lot of AI in that.
17:01
[SPEAKER_02]: Um, you know, just trying to, again, cut the fat and AI's taking over a lot of things.
17:07
[SPEAKER_02]: There was something in there that I thought was interesting was there's no pure managers anymore.
17:10
[SPEAKER_02]: Anybody who works here is a contributor.
17:13
[SPEAKER_02]: You can obviously have leadership positions, but there's nobody that's just managing people.
17:17
[SPEAKER_02]: And then the stock bounced on that, which sometimes it does.
17:21
[SPEAKER_02]: I was talking to Brian before the show.
17:23
[SPEAKER_02]: I saw her remember when Mark Zuckerberg announced he was cutting a lot of staff over a net of the stock jumps, like 18 to 20 percent.
17:31
[SPEAKER_02]: And it's, it's tough as a human being, just to be like, oh, this is the stocks rallying on this news of people losing their jobs, which is never good.
17:39
[SPEAKER_02]: And the stock popped for Coinbase, but then it quietly, it not quietly, it quickly reversed.
17:43
[SPEAKER_02]: Let's just pull it up now while I'm on this rant because I just I do think it's interesting because I think the market Yeah, it's about down 3% so it's like a 7% swing today to the downside and I I think the market's trying to sniff out Like what is the future for corn base because obviously they used to be the the biggest more of You know crypto and all coins and that's not the case anymore with Robinhood Gemini crack and you name it
18:09
[SPEAKER_02]: And then, you know, they come and they're like, oh, now we're doing badning markets.
18:13
[SPEAKER_02]: We'll do stocks.
18:14
[SPEAKER_02]: We have perpetual on own sort of like, but almost trying to do e Robinhood.
18:19
[SPEAKER_02]: We can recover that when they're launching all that.
18:21
[SPEAKER_02]: So it's interesting to see the market discount the cut of jobs to maybe compare like what their revenues will be.
18:30
[SPEAKER_02]: And I bring this up to toss it back to you, Brian, a little valuable lob of a question that's not on the sheet.
18:36
[SPEAKER_02]: I see for the clarity act, I see roads of innovation.
18:39
[SPEAKER_02]: You're going to have to come up with products that use people's stable coins or use people's cryptos in an act.
18:47
[SPEAKER_02]: way to then give them rewards.
18:50
[SPEAKER_02]: And I think that Coinbase is one of the companies that would be situated perfectly to be able to come up with something like that.
18:56
[SPEAKER_02]: And I'm not smart enough to even read the fine print yet of this clarity act, but when I was just thinking of this and like, well, what could be that product?
19:04
[SPEAKER_02]: What could keep, what could qualify as stable coins, keeping them active to not be deposits?
19:11
[SPEAKER_02]: What could qualify them an active role?
19:13
[SPEAKER_02]: And I thought of all these companies launching their credit cards, and so is, and again, I don't know this, I'm not saying this as a fact, but is there a way to tie in the coin-based credit card or the Robinhood credit card, the Gemini credit card, is there a way to tie that into active deposits where you're constantly paying off the bill, or maybe it's some type of mix between a credit card and a debit account, and it's an instant
19:36
[SPEAKER_02]: you know an instant transfer of stable coins when you're buying things but because of that you're getting reward more instant rewards so maybe these two three four percent rewards could I don't know just on out there could they jump to six seven eight uh if you're using it as a debit card and you're getting like six percent off purchases.
19:53
[SPEAKER_02]: I don't know just an idea because I think that's what the clarity act is opening up innovation for more rewards if you're active.
19:59
[SPEAKER_01]: Yeah, you nailed it, Tivo, and what an alley-oop, because I'm slamming that down, even my Gemini card now, just recently on the app, it has an option where I could pay the bill with my current crypto holdings.
20:13
[SPEAKER_01]: So there's some sort of, you know, back-end UI there that, you know, converts, you know, my Bitcoin or Ethereum over and takes care of my credit card, probably into some stable coin.
20:21
[SPEAKER_01]: So I think everything you said is certainly on the table.
20:25
[SPEAKER_01]: I think that just like something is simple
20:30
[SPEAKER_01]: And I guess to go back to this whole Brian Armstrong and cutting 14% of the workforce, I mean, nobody wants anybody to lose their job.
20:38
[SPEAKER_01]: I'm like the number one people.
20:40
[SPEAKER_01]: I want more jobs for people.
20:41
[SPEAKER_01]: I want people to feel secure and think outside of the box and build instead of, you know, just, you know, bringing the lunch pal to work.
20:49
[SPEAKER_01]: In Coinbase has done a great job, but they did have about, I said this before we jumped on 5,000 employees, just a ton of employees, and maybe they needed all those employees, so they cut 700, but when you compare it to some other very interesting companies out there, now this is an apples, apples, but hyperliquid, for instance, which makes a boat ton of money has 20 employees.
21:12
[SPEAKER_01]: So they definitely kept it lean over there and they're making a lot of money.
21:17
[SPEAKER_01]: So I don't, I'm not like a whammed by this cutting the workforce of 14% or hate to see this happen, but they're also trying to get into more AI native structure and infrastructure.
21:28
[SPEAKER_01]: I think the AI world and crypto go together.
21:32
[SPEAKER_01]: I, Brian Armstrong's one of those clear people have said, there's going to be more AI agents transacting with crypto.
21:38
[SPEAKER_01]: Then humans, I think stable coins and AI and agents and all that is going to open up all these new avenues of how we can earn yield, how we can utilize these stable coins.
21:50
[SPEAKER_01]: It's just a really exciting time.
21:52
[SPEAKER_01]: And I think if we hand hold these rewards back from the Clarity Act, we're holding back innovation.
21:59
[SPEAKER_01]: So we want to give an opportunity for all these companies to innovate because somebody else is going to do it.
22:04
[SPEAKER_01]: Another country, somebody else is going to do it.
22:06
[SPEAKER_01]: They're going to capitalize on it.
22:07
[SPEAKER_01]: So we always want to keep moving forward.
22:10
[SPEAKER_01]: So I'm excited to see how it all shakes out.
22:12
[SPEAKER_01]: And you make a great point with the credit card and just the sky's the limit.
22:16
[SPEAKER_01]: How creative you can get with these stable coins, and obviously earning massive yield, which is going to be attractive.
22:22
[SPEAKER_01]: And I get the get bank's point of view, but I think it's time to kind of like support some people.
22:27
[SPEAKER_02]: Yeah, I would love to be in a think tank of creative ideas to give to obviously the old you're running a business you have to make the most revenue, but like if it may be maybe again, I'm completely wrong and that wouldn't qualify, but it's like the active so how can we come up with ideas to keep these deposits active.
22:44
[SPEAKER_02]: It would be interesting to like you could tear how much like the more money you spend with this card So they're earning money on the processing fees get you certain level tiered of stable coins each month And it's like you spend this much a week you earn this if you spend this much a month you earn this
23:00
[SPEAKER_02]: And it's like, I don't know, it's like it's basically the same thing.
23:04
[SPEAKER_02]: It's kind of cards have done Seaming forever is gamify it to try to get you to spend more, but you know, I'm not advocating for outrageous spending that you can't have, but then maybe if you offer the best program
23:15
[SPEAKER_02]: You know, you use that one card for the majority of your spending.
23:19
[SPEAKER_02]: So it could be interesting.
23:21
[SPEAKER_02]: Something we're definitely going to cover here.
23:23
[SPEAKER_02]: But again, I think the name of the game is this seems to be moving forward if we're putting a cherry on top of the Clarity Acconda here.
23:30
[SPEAKER_02]: Moving forward, looks like this is bipartisan sports.
23:33
[SPEAKER_02]: Get done.
23:34
[SPEAKER_02]: The banks are getting what they want to appoint.
23:38
[SPEAKER_02]: The crypto industry is getting what they want to appoint.
23:40
[SPEAKER_02]: Feels like a
23:41
[SPEAKER_02]: a good negotiation in a way, everybody's leaving the table wishing they got more, but also I do believe that lane of innovation is open.
23:50
[SPEAKER_02]: And then it'll be interesting to see what products come out of that.
23:53
[SPEAKER_02]: And then I also think that for crypto as a whole, in Bitcoin, you know, I think this is what we hope for a green light to really, really continue the transformation of crypto
24:09
[SPEAKER_02]: as we pull of corn market cap and transition on something that popped out immediately.
24:13
[SPEAKER_02]: Look at this 50 50 smack dab in the middle where he'll baby last month.
24:19
[SPEAKER_02]: Boys, we were extreme feared.
24:21
[SPEAKER_02]: Don't forget February 6.
24:24
[SPEAKER_02]: it in a single digit, single digits, and now we're at the 50, we'll actually cover this later, but I mean there's some, obviously we saw Bitcoin moving, a nice move here seven days, seven percent, obviously a solid even if we pull it up, solid what month, you know, 20 percent on the month, you don't hate that at all.
24:46
[SPEAKER_02]: All clones are moving a little bit.
24:48
[SPEAKER_02]: We'll cover some of that later in the show.
24:50
[SPEAKER_02]: And yeah, it feels, it feels 50, 50.
24:53
[SPEAKER_02]: I'm not scared, I'm not your fork.
24:55
[SPEAKER_02]: I'm 50, I'm 50, I'm 50, Brian.
24:59
[SPEAKER_01]: It almost feels like it's going under notice a little bit, right?
25:02
[SPEAKER_01]: Like people are talking about like crypto stocks on Twitter, like there's less like celebration of like us hitting $80,000 in with a lot of things going on in the world right now.
25:13
[SPEAKER_01]: So again, not funny into advice, but I think we go higher.
25:18
[SPEAKER_01]: I do.
25:19
[SPEAKER_01]: I think we go higher.
25:20
[SPEAKER_01]: I'm not opening any lungs or anything along those lines, but I am cautiously optimistic that we're going higher.
25:29
[SPEAKER_01]: I'd like to see as close above 84.
25:31
[SPEAKER_01]: I love and then I think when we see a nine in front of it, when we see 90, there's going to be some, there's going to be some real foam all with people because we're not going to be that far off of all time highs and this is all going on to notice we had all those retail short term buyers sell out got smart money powering in.
25:49
[SPEAKER_01]: And we're just grinding up.
25:51
[SPEAKER_01]: The chart looks great things feel pretty good.
25:54
[SPEAKER_01]: I love whatever TA we're doing right now It's I'm on in do it.
26:00
[SPEAKER_01]: Is that a descending triangle to the lower end is that what are we looking at here?
26:05
[SPEAKER_02]: this is this is the first ever in the middle here you see here's the first ever do's rock yes or go in the moon did uh... i just i think um... this is kind of what i was trying to learn from blending in hunter who hunter is going to be on the show on Friday so make you tune on Friday live with bison hunter to meet hunter and we'll do some t a
26:26
[SPEAKER_02]: But I was kind of, when I was saying the pain trade was higher, I like this support here.
26:30
[SPEAKER_02]: I like the 60s.
26:31
[SPEAKER_02]: I did, I really did.
26:32
[SPEAKER_02]: And I thought when we were bouncing around the 60s down here, I thought the pain trade was higher as we said on the show.
26:38
[SPEAKER_02]: Another great call if you listen to these episodes, weekend and week out with us, we really appreciate it.
26:42
[SPEAKER_02]: But you got the pain trade is higher.
26:44
[SPEAKER_02]: And here we are, we're dancing in the 80s.
26:47
[SPEAKER_02]: And I think,
26:48
[SPEAKER_02]: You know, I think you can have that first breakout to 90 here and then you can solidate and then I wouldn't say the pain trades higher from there, but I still think I think there's the panic if you see Bitcoin in 1856 I think there's panic buying to get into the 90s and then I do think again right here.
27:06
[SPEAKER_02]: You probably consolidate in here again.
27:08
[SPEAKER_02]: I don't think and we said this me and you specifically like I don't think we're rocking back up to one 10, but I think I think you can get a crazy little pop here into the and not personal financial advice.
27:20
[SPEAKER_02]: We're just friends talking crypto here, but like I do my money is on us getting.
27:25
[SPEAKER_02]: getting up into close to the 90s there and then consolidating again before you'd make that jump back up depending on macro and whatnot.
27:32
[SPEAKER_02]: But I just I think we kind of break out of this eventually and get up into the 90s is something that I'm trying to watch.
27:38
[SPEAKER_02]: I think Bitcoin wants to dance in the 80s.
27:40
[SPEAKER_02]: That's what I have.
27:41
[SPEAKER_02]: I told Bunden that on Friday, I was like, I think Bitcoin wants to dance in the 80s or am I biased?
27:46
[SPEAKER_02]: And he agreed.
27:47
[SPEAKER_02]: He thinks the risk award is to get a
27:50
[SPEAKER_01]: I mean, Brendan is obviously the greatest of all time, hunters and absolute studs.
27:55
[SPEAKER_01]: So everyone needs a tune.
27:56
[SPEAKER_01]: I'm going to be in there.
27:56
[SPEAKER_01]: I'm going to be in that chat on Friday, chirping them a little bit.
27:59
[SPEAKER_01]: I'm excited for that, because I'm going to break it down such a great way with TA, but with Tevo just presented there.
28:05
[SPEAKER_01]: I think it's exactly where I'm going as well.
28:09
[SPEAKER_01]: I think we, I think we dance in the 80s.
28:12
[SPEAKER_01]: I love that, I love that term.
28:14
[SPEAKER_01]: I think there's a little bit of a panic buy and I would not be surprised if we see a nine in front of Bitcoin sooner rather than later.
28:20
[SPEAKER_01]: I'm excited for where we're going.
28:23
[SPEAKER_01]: I think that was one of the best TA breakdowns that I've seen in a long time because it means up only and I'm excited for it.
28:31
[SPEAKER_01]: We'll get a little bit of confirmation for Brendan and Hunter.
28:34
[SPEAKER_01]: Things feel really good right now in the world of Bitcoin.
28:38
[SPEAKER_01]: I guess it's not on the sheet.
28:39
[SPEAKER_01]: We didn't prep this at all, but I'm gonna put you on the spot.
28:42
[SPEAKER_01]: What are your thoughts for like the alkaline market?
28:45
[SPEAKER_01]: If Bitcoin keeps pushing like it is, do you think all coins kind of just still chop around or bleed a little bit?
28:52
[SPEAKER_01]: Have you even thought about it?
28:55
[SPEAKER_02]: Of course, I thought about it.
28:56
[SPEAKER_02]: I mean, we talk about Puggie Penguin every single Talk about bro, we're killing it.
29:06
[SPEAKER_01]: It's up like
29:11
[SPEAKER_02]: We didn't present on the month, 87 percent on the month.
29:14
[SPEAKER_01]: Well, I forget what we called it out, but it has to feel somewhat close.
29:19
[SPEAKER_02]: I mean, I think if you listen to this podcast, you're getting amazing Alpha because we covered everywhere.
29:24
[SPEAKER_02]: I mean, something funny.
29:25
[SPEAKER_02]: Joe Ron, we brought up every single, especially if you pulled the year right in this right down here.
29:31
[SPEAKER_02]: All we talked about this year.
29:33
[SPEAKER_02]: Anytime, Paul, whether it was the Puggy plushie, the credit card.
29:36
[SPEAKER_02]: We were just talking about how that we love Puggy, Penguin because they built.
29:40
[SPEAKER_02]: they build and again it's not personal financial advice obviously up here was a super fun time and we were we were running with pudgy then and certainly we made some solid trades there took some profits but we wrote we wrote some down to but we said hey we we think if they continue to build we'll be back
29:56
[SPEAKER_02]: And certainly in the last month with 86% here, you can't hate that at all, you can't hate that at all.
30:04
[SPEAKER_02]: But to kind of overarching question, yeah, things are going to come back.
30:08
[SPEAKER_02]: All clones will come back.
30:09
[SPEAKER_02]: I think that's not really my department, so I don't want to give too hot to take.
30:12
[SPEAKER_02]: I really like to delegate that to you and Joe momentum money makers.
30:16
[SPEAKER_02]: Obviously inside the community of the crypto nation the newsletter with price and row hit You know, that's where that alpha lives the most so if you're somebody that's really interested in that Obviously we always have the links down there.
30:28
[SPEAKER_02]: I got the one dollar trial for Brian momentum mo-makers One dollar trial for crypto nation get the newsletter check out those links if you're looking for that early early alpha But I think yeah, it's a big corner is a tie that certainly lifts all boats
30:42
[SPEAKER_02]: but there's alpha to know what boat you want to ride on.
30:46
[SPEAKER_02]: And I think what we learned from the last cycle is those dinosaur cryptos can pop off at times and have these weird runs, but they're not necessarily sustainable.
30:56
[SPEAKER_02]: If they don't have a fundamental storyline, it's kind of my biggest takeaway from it.
31:02
[SPEAKER_01]: Yeah, there's a few just all coins that I have a slight little affair with, you know, and we talk about them on the run down all the time.
31:10
[SPEAKER_01]: Like, you know, I think Zika, actually super interesting with the privacy meta, but you penguins, man.
31:16
[SPEAKER_01]: Like, what an, I mean, we've been talking about this.
31:19
[SPEAKER_01]: I get it.
31:19
[SPEAKER_01]: Like, we got everyone got washed out a little bit the rest of the crypto market, but we were just banging on the drum.
31:25
[SPEAKER_01]: that when Bitcoin recovers, when it starts to show strength, tokens like Pudgy Penguins are the ones that are going to run and run the hardest, and it's been one of the biggest winners.
31:34
[SPEAKER_01]: Dude, we are in worth number 71 crypto with Pudgy Penguins with Pepe, which was a multi-billion dollar market cap.
31:42
[SPEAKER_01]: Now it's a 1.7 billion.
31:43
[SPEAKER_01]: I mean, we're close to two x away from being a Pepe.
31:49
[SPEAKER_01]: I'm loving this setup here.
31:51
[SPEAKER_01]: I'm loving this setup because the Pledge of Penguins team continues to produce continues to make money.
31:56
[SPEAKER_01]: And I think we're going to see a nice run up in certain coins in Pango is is one that we've talked about a lot for good reason.
32:04
[SPEAKER_02]: Yeah, I think the market cap thing is interesting because even, you know, obviously if you can
32:11
[SPEAKER_02]: on the one-year versus the market cap on a one-year.
32:14
[SPEAKER_02]: It stays obviously pretty consistent, but I just, I think that the market cap, like you said, we can go reach Pepe.
32:21
[SPEAKER_02]: It's like it's not out of question for that.
32:24
[SPEAKER_02]: I think this is, you know, that the Pepe is viral and memeification for sure, and obviously a staying power on the internet.
32:33
[SPEAKER_02]: But they're not building like Pengumann, nobody's building like Pengumann at Puggie Penguin overall.
32:39
[SPEAKER_02]: So something we really like here and we will continue to cover another one that we've covered inside the community a lot and on the show, but I know this has been inside the community a lot.
32:50
[SPEAKER_02]: This year was onno.
32:52
[SPEAKER_02]: Onno had some news here.
32:54
[SPEAKER_02]: They're tokenized STRC with Michael Strahler.
32:58
[SPEAKER_02]: Michael
33:00
[SPEAKER_02]: uh... they're they're tokenizing it and they chose uh... they chose on though so it's now available on a theorem bnb chain in salana through on-doh global markets that's on this thing is tokenization of ways uh... and i know we'll hit has had some newsletters on and i know voices liked it over the last uh... you know year plus and uh... i know it's been talked about recently inside the community and it had some big news and it's had some movement to uh... what do you think about on-doh and i'll
33:29
[SPEAKER_01]: Yeah, I think real world assets and tokenizations great.
33:33
[SPEAKER_01]: I love Ando as a as a play as part of my personal portfolio.
33:37
[SPEAKER_01]: But this is interesting because they launched a one to one version of strategies perpetual preferred stock.
33:44
[SPEAKER_01]: Well, you're going to get, you know, I think it's like 11.5 annualized paid monthly and cash.
33:50
[SPEAKER_01]: Maybe they changed it to bi-weekly, but it's a $100 par value.
33:55
[SPEAKER_01]: You deposit cash, strategy, deploys it to heavy Bitcoin exposure and you collect monthly dividends.
34:02
[SPEAKER_01]: So it's great to see that on dough is embracing it.
34:05
[SPEAKER_01]: Michael Seller is taking the stretch pies and continuing to just hammer Bitcoin.
34:12
[SPEAKER_01]: and which could make you a little nervous.
34:14
[SPEAKER_01]: I'm not going to lie.
34:15
[SPEAKER_01]: I've felt that in the past, but he seems to, he seems to make the right decisions here at the right times.
34:22
[SPEAKER_01]: I know some of his buys have been above where we've been, but you know, I think he's just continuously gets more more capital by Bitcoin.
34:32
[SPEAKER_01]: And he is just such a tremendous amount of sell a buy pressure that puts on these sellers.
34:38
[SPEAKER_01]: I think it's going to be great.
34:39
[SPEAKER_01]: And this is just another avenue where on those getting involved in stress.
34:43
[SPEAKER_02]: I feel like a financial journalism.
34:45
[SPEAKER_02]: I think I have to buy some stretch.
34:47
[SPEAKER_02]: I was always like, yeah, I don't necessarily fully understand it.
34:49
[SPEAKER_02]: And I don't like to buy things.
34:51
[SPEAKER_02]: I don't fully understand.
34:53
[SPEAKER_02]: But I also gamble a lot and so it's good to buy some straight.
34:58
[SPEAKER_01]: I could probably go through the text messages and find three to five over the past few days.
35:02
[SPEAKER_01]: I'm things that we did not really fully understand, but we were like, we're probably aping in.
35:08
[SPEAKER_01]: And I've got one on the top of my head that I'm not going to mention.
35:11
[SPEAKER_01]: It's not a crypto.
35:13
[SPEAKER_02]: that you know I've had some major sweatshirts with with you so uh you know everyone's in the world doesn't mean okay yes that doesn't mean that we don't understand it we know what we're doing but it's gambling we get gamble we don't know I'm a better stretch and how he does the financial how can we have this in the in the constant yielding dividend and I'm just like man
35:33
[SPEAKER_02]: And I don't understand the financial outcome of this.
35:36
[SPEAKER_02]: So that means I can't truly invest in it.
35:39
[SPEAKER_02]: However, like I said, however, I do like it's a gamble.
35:43
[SPEAKER_02]: And I feel like as the host, the coach, the rundown, and we talk about this stuff every week, if you're like, I need to put a little sprinkle, and then I can report back.
35:50
[SPEAKER_02]: I'm not gonna, it's not gonna be a full, you know, position for me by any means.
35:54
[SPEAKER_02]: Um, because I'm dead in a strategy, I have a great strategy called 2022 and wrote that up with my Robinhood.
36:01
[SPEAKER_02]: That was, that was great.
36:03
[SPEAKER_02]: So I'm not anti strategy, but one means love Michael Sailer, friend of the show, of course, but yeah, the the stretch is interesting.
36:11
[SPEAKER_02]: There's a lot in the you.
36:11
[SPEAKER_02]: usually the people are down for stretch or they think it's, you know, a pure scam.
36:15
[SPEAKER_02]: So, I think I might have to sprinkle some stretch here with a boat back to on to if we circle back to on to a great, I'll share this to have great week.
36:24
[SPEAKER_02]: I mean, 20% on the week.
36:26
[SPEAKER_02]: Obviously, this news pops, that's 20% on the week, but also, I mean, again, for real world assets, I mean, tough year, even before the
36:37
[SPEAKER_02]: And then again, if you're looking all the time, I mean, this is basically back with the ICO.
36:41
[SPEAKER_02]: I remember Ando was running fun running high.
36:44
[SPEAKER_02]: So, you know, you had to do your own research.
36:48
[SPEAKER_02]: I think if you or in the community and you got those newsletters, a lot to learn and make decisions on, but a good run here for Ando with some good news.
36:58
[SPEAKER_01]: Yeah, absolutely, man.
37:00
[SPEAKER_01]: I think Ando Ando has just so many major partnerships and getting integrated in the world world.
37:06
[SPEAKER_01]: I mean, in the chart, it's tough because a lot of people are bidding Ando early on because a lot of those that price discovery was just pure speculation.
37:15
[SPEAKER_01]: We get the correction and now they're starting to, you know, really work.
37:19
[SPEAKER_01]: I mean, I think they were selected for DTC's industries working group for US tokenization.
37:25
[SPEAKER_01]: If you believe in real world assets, if you believe in tokenizing,
37:29
[SPEAKER_01]: on chain, uh, on does kind of feels like a no brainer opportunity.
37:33
[SPEAKER_01]: And, you know, it's far off.
37:35
[SPEAKER_01]: It's all time highs.
37:36
[SPEAKER_01]: So I love the product.
37:38
[SPEAKER_01]: Okay.
37:38
[SPEAKER_02]: I think it's a full disclosure.
37:40
[SPEAKER_02]: I do.
37:41
[SPEAKER_02]: I do have a little bit of on to, uh, in my, in my bags.
37:45
[SPEAKER_02]: So, you know, full disclosure there.
37:47
[SPEAKER_02]: Uh, funny.
37:48
[SPEAKER_02]: They were talking about sale and all he does is buy Bitcoin, uh, not so fast.
37:52
[SPEAKER_02]: Not this week, no buys this week, back to the next week.
37:56
[SPEAKER_02]: So no buys for Michael Seller this week, but that's okay, all he does is buy.
38:01
[SPEAKER_02]: But the eth Wales are buying Brian.
38:04
[SPEAKER_02]: The Wales continued to buy.
38:05
[SPEAKER_02]: Obviously that will be, we'll talk about him in a second, is a bit my time, Leo is buying, but more walls are buying.
38:12
[SPEAKER_02]: The on-chain data is showing that eth Wales.
38:15
[SPEAKER_02]: accumulated 320 million worth of Ethan the last 48 hours, but vice is holding firm a little pop there.
38:23
[SPEAKER_02]: I think we kissed 24 100 in the last 24 hours, but the accumulation is happening when these OTC deaths not stop selling the infoundation continues to sell.
38:35
[SPEAKER_02]: I think they sold a bit mine.
38:37
[SPEAKER_02]: Well, you know, we're not seeing the price.
38:40
[SPEAKER_02]: It says down there yet, a bit mine, OTC
38:44
[SPEAKER_02]: But I don't know, it's just eventually, it's kind of the same thing with Bitcoin, right?
38:48
[SPEAKER_02]: Like, when does this buying pressure blow off the top?
38:52
[SPEAKER_02]: And I think for, for, for, for Ethereum, it should be coming because like, the staking is incredible.
38:59
[SPEAKER_02]: Like, 10 billion of eTH staked, I think, bitmines now at, like, four point something percent of the Ethereum supply on their alchemy of five percent.
39:10
[SPEAKER_02]: And there's, there's a large weight line.
39:15
[SPEAKER_01]: I mean, if you were buying a theorem of above $4,000 and you liked it then, you should absolutely love it at 2300 bucks.
39:24
[SPEAKER_01]: We just talked about a couple of rundowns where I was like, I feel underexposed at the theorem and both of us were laughing and I think we both like, you know, bought a little bit of a theorem as well.
39:33
[SPEAKER_01]: I think it's just in due time where a theorem runs and
39:36
[SPEAKER_01]: It's just a lot of buying pressure.
39:39
[SPEAKER_01]: There's a lot of integrations with the Ethereum network.
39:42
[SPEAKER_01]: I mean, that's definitely cleaned up a lot of its issues with gas fees and things along those lines.
39:46
[SPEAKER_01]: It's being utilized as kind of like the number one chain for a lot of this tokenization,
39:54
[SPEAKER_01]: I'm an Eve guy too.
39:57
[SPEAKER_01]: I've always liked Ethereum and I think there's clear skies ahead I'm surprised it actually is not a little higher than it is, but it doesn't always make sense You know, sometimes just things don't make sense because there's some inner workings and dealings Feels like we're just kind of getting out of the mud here a little bit and shaking our boots off
40:16
[SPEAKER_01]: And then there's going to be a pop and a lot of these tokens and Ethereum's gate of course be leading the way in my opinion and Tom Lee does not does not argue I'll tell you that much he's just hammering hundred million dollar buys left and right.
40:32
[SPEAKER_02]: Yeah, the guy states his case very bluntly and very in a stoic manner if I may say and then I just I thought this was interesting for anybody listen to the show that's on you know crypto Twitter a lot there was there was there was some fun online this week.
40:50
[SPEAKER_02]: uh... somebody is posting like the eith exit cue uh... was crazy outnumbering the like waiting to get in staking cue uh... in that got some community notes so nothing to worry about their the entry cue is actually seven times larger than the execue uh... which you know obviously is a larger number so more people are waiting to stake than more people are unstaking
41:13
[SPEAKER_02]: But there was a tweet that went, I don't know, viral's very word, but it got a lot of attention.
41:18
[SPEAKER_02]: So I just wanted any of the listeners out there to get the facts.
41:20
[SPEAKER_02]: If they saw that tweet and were worried, you know, it doesn't seem to be the case.
41:24
[SPEAKER_02]: People are marching to stake their teeth.
41:28
[SPEAKER_02]: I thought stuff that I always like to show is when crypto kind of gets a mainstream shout out.
41:35
[SPEAKER_02]: And love them, our hate them are in different.
41:38
[SPEAKER_02]: Joe Logan is the number one podcast in the world.
41:40
[SPEAKER_02]: That's just the stats.
41:42
[SPEAKER_02]: So obviously you quote a polarizing figure, especially during the election cycle, but there was a little there was a little crypto talk and I thought it was worth listening to because again, for the most popular show in the world, that means you get the most ears in the world.
41:54
[SPEAKER_02]: So this is what they heard this week.
41:57
[SPEAKER_04]: You get scamming.
41:57
[SPEAKER_04]: What do you think about shit coins?
42:01
[SPEAKER_04]: Like what's your take on like hot to a coin?
42:04
[SPEAKER_04]: Okay.
42:04
[SPEAKER_04]: And Melania coin and those are more mean coins and more mean coins.
42:09
[SPEAKER_03]: Cheat coins, right?
42:09
[SPEAKER_03]: Isn't that what a mean coin is?
42:11
[SPEAKER_03]: Any, so the only coin I believe in is Bitcoin.
42:14
[SPEAKER_03]: And we've talked about this before.
42:16
[SPEAKER_03]: Right.
42:16
[SPEAKER_03]: In fact, I looked it up, hoping you would bring it up.
42:19
[SPEAKER_03]: Two years ago when I was here the last time, Bitcoin was around $40,000 today.
42:23
[SPEAKER_03]: It's close to $100,000.
42:24
[SPEAKER_03]: This will continue to go up until we're long gone.
42:30
[SPEAKER_02]: It's very interest, so I don't believe, and so then Joe goes on to say, like, hey, I agree with Bitcoin.
42:38
[SPEAKER_02]: So again, I think it's always fun when clips like that, you know, surface and resurface that, you know, hey, this is what people are hearing.
42:46
[SPEAKER_02]: And you know, that's the kind of fun entertaining side of it.
42:49
[SPEAKER_02]: And then there's the, you know, the Morgan Stanley, the book side of it, where they're financial advisors, are going to be selling it as well.
42:56
[SPEAKER_02]: So if you have a longer term mindset, you know,
43:00
[SPEAKER_02]: And let's see, what else do we have to wrap up today?
43:04
[SPEAKER_02]: I thought this was good.
43:05
[SPEAKER_02]: So Scott Besson said,
43:08
[SPEAKER_02]: Scott Beston was talking about AI and he said, hey, AI could be used to attack bank accounts to hack bank accounts saying US financial institutions are actually working on strengthening their defenses to that.
43:20
[SPEAKER_02]: I thought it was finally nice to see a headline how at least in the finance world how AI is going to attempt everything.
43:26
[SPEAKER_02]: We've said it on this show and obviously the crypto community has said, you know, hey, if quantum computing is going to break Bitcoin, that's the least of our problems, it's going to
43:34
[SPEAKER_02]: killer financial system right without any upgrades.
43:37
[SPEAKER_02]: So I thought this was interesting.
43:39
[SPEAKER_02]: I know that a couple weeks ago.
43:40
[SPEAKER_02]: I mean, it might be three weeks ago now.
43:42
[SPEAKER_02]: He kind of had an emergency meeting.
43:44
[SPEAKER_02]: Did you hear about this, Brian?
43:46
[SPEAKER_02]: He said, yeah, he summoned.
43:48
[SPEAKER_02]: He summoned a lot of the bank leaders.
43:51
[SPEAKER_02]: I don't know if he summoned them to DC or if it was a call.
43:54
[SPEAKER_02]: I think you might have brought them all to DC.
43:55
[SPEAKER_02]: It was like,
43:56
[SPEAKER_02]: City, J.P. Morgan, Goldman Sachs, like all the big names to talk about something to do with, like, anthropic, there was, like, an anthropic, you know, hacking, leak or something, they're like, hey, like, we just saw what this new model doing, and like, you guys aren't ready for it.
44:16
[SPEAKER_02]: Like, we got a, in the anthropic models, like Sandbox.
44:19
[SPEAKER_02]: So it's, you know, not supposed to get out.
44:21
[SPEAKER_02]: It's in a Sandbox.
44:22
[SPEAKER_02]: So it can't, you know, it's not running free, but he's like, hey, if this thing exists now, like it's going to exist a lot of other places soon around the later and this thing can cram like all your security.
44:33
[SPEAKER_02]: I'm paraphrasing, but it was it was it basically the headline was this is a rare thing to do and it got out that it was about, you know, AI safety.
44:41
[SPEAKER_02]: So I thought that was interesting, again, this is where the world's going and so it's not just a crypto or Bitcoin problem, it's a world problem.
44:50
[SPEAKER_02]: And obviously the battle of hackers and good versus evil just continues on into a different arena with AI and quantum.
44:59
[SPEAKER_02]: But last thing I got on the sheet here, Brian, shout out to our friends of the show, the XRP Army, absolutely taking over
45:08
[SPEAKER_02]: the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the
45:38
[SPEAKER_02]: and then this just came out today this is a consensus live down in Miami this week today tomorrow and maybe Thursday but uh... i thought this is a funny little clip of uh... of the CEO of xrp i've never been an xrp maxi what what did he say i've been an xrp maxi do you hear that never he was never an xrp maxi i'm kind of surprised by that
46:07
[SPEAKER_02]: Yeah, it's a full clip.
46:08
[SPEAKER_00]: I've never been an XRP Maxi.
46:10
[SPEAKER_00]: It's not going to be a one chain world.
46:11
[SPEAKER_00]: It's going to be a multi chain world.
46:13
[SPEAKER_00]: I want to see Bitcoin be successful.
46:15
[SPEAKER_00]: I love what's going on in the XRP ecosystem.
46:17
[SPEAKER_00]: I've never been an XRP Maxi.
46:19
[SPEAKER_02]: All right, not an XRP Maxi.
46:20
[SPEAKER_02]: There's a lot out there.
46:22
[SPEAKER_02]: And we love them, too.
46:23
[SPEAKER_02]: But any thoughts on that, if I was fun?
46:27
[SPEAKER_01]: I mean, the actual PR, the Rippa Army man is just, they're sort of amazing.
46:34
[SPEAKER_01]: It's crazy.
46:35
[SPEAKER_01]: I remember just a couple of years ago when people would be like overseas, so they would see a Bitcoin logo, like friends and family, and they would like send me a picture like we accept Bitcoin here.
46:45
[SPEAKER_01]: And if they hey, the script of things starting to catch on.
46:48
[SPEAKER_01]: Now we have XRP just plastered all over Las Vegas.
46:53
[SPEAKER_01]: Obviously, the world's changing, people are becoming more and more interested in crypto, shout out to the XRP army again.
46:59
[SPEAKER_01]: I've stayed in multiple times.
47:01
[SPEAKER_01]: I'm not a holder of it, but I'm rooting for it.
47:03
[SPEAKER_01]: I think it could certainly succeed.
47:06
[SPEAKER_01]: And I agree with that clip that he said that the world's not going to be a one chain world.
47:10
[SPEAKER_01]: I also agree with that.
47:12
[SPEAKER_01]: And when we don't need to go and depth about that, but I believe there's going to be a space for a lot of different chains to be very successful and be specialized.
47:21
[SPEAKER_01]: And I'm rooting for XRP, but man, whoever their marketing team is and advertise an agency, I mean, they get the word out, man, and they do get tribalism out there.
47:32
[SPEAKER_02]: Yeah, it's fun.
47:33
[SPEAKER_02]: It's like rooting for your team, especially when you have money invested.
47:36
[SPEAKER_02]: It's fun.
47:36
[SPEAKER_02]: We love everybody.
47:37
[SPEAKER_02]: We love the XRP Army.
47:38
[SPEAKER_02]: We love the crypto family, and especially the crypto one-one family, that's going to do it for us today.
47:43
[SPEAKER_02]: However, I want everybody to know who's still alive.
47:47
[SPEAKER_02]: Let me pull the up the exact time because I have it scheduled.
47:50
[SPEAKER_02]: One PM Eastern.
47:51
[SPEAKER_02]: We have Bryce, a rare appearance of Bryce on the run-downs.
47:55
[SPEAKER_02]: You're not going to want to miss that.
47:56
[SPEAKER_02]: We're introducing our new team member Hunter.
47:59
[SPEAKER_02]: He is a Swiss Army knife, a true jack of all trades, everything from crypto to T.A.
48:05
[SPEAKER_02]: Just a really smart, bright guy.
48:07
[SPEAKER_02]: If you want to get a tease of what he's like, go check out one of the tutorials on our YouTube that he posted for trading you.
48:14
[SPEAKER_02]: So tune in, one PM Eastern, live on YouTube on Friday if you can make it if not always available on the audio on YouTube after.
48:22
[SPEAKER_02]: Really appreciate everybody tuning in on this Tuesday afternoon.
48:25
[SPEAKER_02]: That's all for today and we'll talk to you on Friday.
48:28
[SPEAKER_02]: Bye, everybody.