Latest / CRYPTO 101 / Crypto Rundown: Outperforming the S&P 500 with THIS Asset?!

Transcript

Crypto Rundown: Outperforming the S&P 500 with THIS Asset?! · CRYPTO 101

0:08
[SPEAKER_01]: Alright everybody welcome back to the crypto run down a special Friday run down where Pokemon cards are outperforming the S&P 500 and Somehow that might be one of the biggest crypto stories of the week But we also got some more traditional news to cover Bloomberg is now covering these tokenized Pokemon cards
0:26
[SPEAKER_01]: collectors are saying it is across the one billion dollars in revenue and all that's happening.
0:30
[SPEAKER_01]: The SEC just abruptly canceled a crypto vote, Brian and I are getting out the tin foil, wrap around our heads.
0:36
[SPEAKER_01]: We got some theories on what's going on down in DC with the crypto, the Clarity Act, and we're going to cover that today.
0:42
[SPEAKER_01]: And then finally, fidelity is bringing some eathstaking and tether is back in the spotlight after passing a KPMG audit.
0:50
[SPEAKER_01]: Guys, we're covering everything from Pokemon cards to KPMG auditing.
0:54
[SPEAKER_01]: Tether, it is a jam-pack Friday episode.
0:57
[SPEAKER_01]: We're going to ask that you give this video a like right off the bat because it's going to be so good.
1:00
[SPEAKER_01]: And if you're new here, hit the bottom right and subscribe.
1:03
[SPEAKER_01]: Brian, happy Friday.
1:04
[SPEAKER_01]: Welcome to the show.
1:06
[SPEAKER_00]: Man, appreciate it.
1:07
[SPEAKER_00]: A good old Friday rundown.
1:09
[SPEAKER_00]: I message you today.
1:10
[SPEAKER_00]: I love me some Friday rundowns with you in the community and you gave you gave some indications.
1:16
[SPEAKER_00]: There was a I the stock up on the Reynolds rap because I do have some tin foil theories out there some interesting theories about what's happening here and excited to dive into it with you TV.
1:29
[SPEAKER_00]: It's always a blast.
1:31
[SPEAKER_01]: yeah it is and we're gonna start off with something right in your real wheelhouse it's the Pokemon cards it's the craze of you know in my mind I kind of connect Pokemon cards to memes I got a friend group called the pink ponies and these guys can't stop ripping it packs it's unbelievable I'm thinking like hey let's go do a happy hour we'll hang out we'll have some drinks talk shop talk sports no they're rolling in here with packs and they're just ripping
1:56
[SPEAKER_01]: All they do is they want to rip, they want to do the rip, they want to do the sip.
1:59
[SPEAKER_01]: It's unbelievable.
2:01
[SPEAKER_01]: They're putting vending machines and bars across Tampa.
2:04
[SPEAKER_01]: We can get back to coin market cap later, because we just got to break down this Pokemon phenomenon, because while I'm sitting here and I just don't understand it, I'm not getting involved.
2:13
[SPEAKER_01]: I'm not invested.
2:14
[SPEAKER_01]: However, I'm looking at these stats, seeing this thing outperform the S&P 500, and then that's how everybody else looks around is like, well, maybe I do got to get involved.
2:25
[SPEAKER_00]: I'm not a Pokemon guy.
2:27
[SPEAKER_00]: I love collectibles and it's so funny.
2:30
[SPEAKER_00]: You said the vending machine thing I've been like sending my wife like vending machines.
2:33
[SPEAKER_00]: I've found a Facebook market play So it's like all we need to do is put Pokemon and I don't know if you what needles are like school She's like kids go crazy for these school.
2:43
[SPEAKER_00]: She's a lot of work I go all we need to do is put those in a vending machine and just kick our feet back and retire
2:50
[SPEAKER_00]: But the Pokemon craze is for real.
2:52
[SPEAKER_00]: And this is probably one of my favorite stories in today.
2:55
[SPEAKER_00]: Pokemon, it's cards have actually been an incredible alternative asset over the years.
3:00
[SPEAKER_00]: And like you said, even outperforming traditional markets over certain periods.
3:04
[SPEAKER_00]: And then we have Bloomberg covering this boom and tokenized Pokemon cards.
3:09
[SPEAKER_00]: And one of the biggest players out there, a collector trip just announced, I might be jumping ahead a little bit, they just announced a 1 billion gross revenue.
3:19
[SPEAKER_00]: an important distinction that gross revenue isn't a billion dollars in profit but I think the bigger story is what they're building.
3:26
[SPEAKER_00]: You take real-graded Pokemon cards, vault it, represent the ownership on chain, and someone anywhere can buy, sell it, or eventually redeem it for a physical card.
3:37
[SPEAKER_00]: So normal people don't need to care about salana or token standards, all they need to care about is Pokemon.
3:44
[SPEAKER_00]: And that's what consumer crypto adoption might actually look like is that crypto infrastructure is in the back end.
3:52
[SPEAKER_00]: And this is something as like an NFT guy that we Joe and I have always talked about for years is like these aren't just JPEGs out there.
3:59
[SPEAKER_00]: There's a way to connect on chain,
4:02
[SPEAKER_00]: pictures or identity, two real assets, these real world assets, and we're seeing this more and more, collect a crib now at Manning.
4:10
[SPEAKER_00]: This is a call of ours in our community as well, not that shout us as too much, but we've talked about this in a lot of different groups, and they're absolutely boom and dude, Billy and Revenue.
4:20
[SPEAKER_00]: No one's gonna take them lightly now.
4:25
[SPEAKER_01]: Yeah, I wish my mom didn't take them lightly.
4:27
[SPEAKER_01]: I'm pretty sure I had those sleeves and sleeves of Pokemon cards in my old bedroom and now they're in a dumpster somewhere in Wilmington, Delaware, and a landfill, you know, so that's how my, that's how my Pokemon collection is going, but just an absolute crazy story as you said, call from your community.
4:44
[SPEAKER_01]: We always want to shout out the links below if you want to get more involved with Brian, check out the links below and then we're also
4:50
[SPEAKER_01]: We do have the number one coin promo going on, a special promo for this Friday rundown.
4:55
[SPEAKER_01]: If you guys want to scroll down, it's Brian, it's Bryce, Brendan, the whole team, they get together and they kind of put this report together for the number one crypto to own.
5:03
[SPEAKER_01]: So you want to scroll down, check out that link for more.
5:08
[SPEAKER_01]: I think what we can do now is pull up
5:11
[SPEAKER_01]: uh... coin market cap because usually that's how we start and we can just kind of get a gist of the market this week again we're in this range it's a grind you out rain something that we've predicted definitely through the summer uh... and you're kind of see it coming into fruition over the top right we're still in fear
5:30
[SPEAKER_01]: There's I wouldn't say there's any super negative spots in the price action, but there's definitely not too many bright spots either You're going to have to lean on Hunter and Brendan for the technical analysis.
5:39
[SPEAKER_01]: I kind of watched his market update yesterday And he kind of gave the playbook of where we are, which is always good to tune in to those which were publishing each week as well But Brian what do you see we kind of like to have the team on and get their opinions?
5:53
[SPEAKER_01]: It it feels like it's the the scary out is over now.
5:57
[SPEAKER_01]: It's the grind out
5:58
[SPEAKER_00]: Yeah, you nailed it and I think we're going to grind for a lot while longer.
6:02
[SPEAKER_00]: You could literally copy paste what I say on every run down in the house and make a cap over the past few weeks and just implement it for this segment.
6:11
[SPEAKER_00]: Choppy zone, we're going to go sideways for a while.
6:14
[SPEAKER_00]: There's a chance that we do see one more flush out.
6:16
[SPEAKER_00]: I wouldn't be shocked by that.
6:18
[SPEAKER_00]: But again, I love, I kind of love the position we're in.
6:21
[SPEAKER_00]: because we got a lot of short-term sellers, a lot of the hypey people are out of it.
6:26
[SPEAKER_00]: Now there's like a little bit more of just like, hey, we're waiting for that next leg up the next catalyst, but it's what is it?
6:32
[SPEAKER_00]: August 14th.
6:34
[SPEAKER_00]: I mean, in Europe and in a lot of parts, not us because we grind.
6:39
[SPEAKER_00]: They're probably, they're not even working right now.
6:41
[SPEAKER_00]: You know, we got bankers and whatnot at the Hampton still.
6:45
[SPEAKER_00]: That's, that's what's happening,
6:51
[SPEAKER_00]: This isn't the time we see a lot of major moves and markets unless there's a reason for it.
6:56
[SPEAKER_00]: So I think we go sideways, maybe a little bit more on the downside.
7:00
[SPEAKER_00]: I don't think anything crazy.
7:02
[SPEAKER_00]: I'm not playing personally in the majors too much.
7:08
[SPEAKER_00]: And the reason is, well, I do.
7:10
[SPEAKER_00]: I always continuously dollar cost average in, but there's been a lot of on-chain activity.
7:14
[SPEAKER_00]: That's been catching a lot of interest.
7:16
[SPEAKER_00]: You know, with the whole Robinhood chain, there's been a lot of interesting runners.
7:19
[SPEAKER_00]: But I want to kind of like take everyone back when we see activity on-chain like these like,
7:25
[SPEAKER_00]: the trenches, the degenerates out there that we joke about in the crypto sector, always like going after NFTs or certain meme coins or RWA projects that pair of meme coins.
7:35
[SPEAKER_00]: When those are getting hyped up, usually the majors are pretty flat, and they usually front-run what we're going to see.
7:42
[SPEAKER_00]: months down the road.
7:44
[SPEAKER_00]: So I like kind of the the thesis that this is building is that we're going to go sideways for weeks longer.
7:50
[SPEAKER_00]: Maybe a little bit farther down and some of the majors not that I think anything's wrong.
7:54
[SPEAKER_00]: I think it's a great area to doll or cost average in any profits.
7:58
[SPEAKER_00]: I'm kind of just putting into my passive Bitcoin stack Ethereum stacks.
8:02
[SPEAKER_00]: But I think there's better opportunities on chain for people if you really want to trade.
8:06
[SPEAKER_00]: But we're going to go sideways for a little bit and these percentages are telling the story.
8:11
[SPEAKER_00]: We're up 1.12% on Bitcoin, you know, we're up 0.02% in the past 24 hours.
8:18
[SPEAKER_00]: That that's about right.
8:19
[SPEAKER_00]: And I wouldn't be surprised to see us just kind of sitting his own next Friday for our next show.
8:24
[SPEAKER_00]: Next Thursday, whenever that is.
8:25
[SPEAKER_01]: yeah yeah it's a great point there's just not much going on for price action but it's something that we've seen before again we've all been through multiple cycles at this point doing the show even doing the rundown now we've been through a full cycles so again if you're somebody that has joined us throughout those you've heard a lot of
8:43
[SPEAKER_01]: uh, repetition recently, but you're also what I like to see in my own investing is kind of seeing patterns that come and go through the cycles.
8:51
[SPEAKER_01]: So it feels almost good, um, that you're getting some of those signals that we've covered throughout the last couple of, uh, months of kind of, you know, doing that diving in and seeing what could, you know, you look back on in six, eight, you know, 12 months from now and saying, hey, that was the bottom.
9:07
[SPEAKER_01]: You're kind of,
9:08
[SPEAKER_01]: you know, do in the research and check in some boxes, which you always like to see.
9:11
[SPEAKER_01]: Something that I found really fascinating that's happened in the last, I think, 24 hours here, which was yesterday's news.
9:18
[SPEAKER_01]: Yeah, August 13th was a tether passing its first ever audit, which was done by KPMG, which you, you know, if you're going to have an audit, there's no other, you know, Wall Street adjacent firm to do your audit other than KPMG.
9:32
[SPEAKER_01]: Those are the big dogs, and
9:35
[SPEAKER_01]: they pass their audit or beat liabilities by 6.8 billion and this was something that over the years you've heard a lot of noise because tether's not a public company so they don't they don't know anybody they don't know earnings reports and their finances and all that is kept private because the private company.
9:55
[SPEAKER_01]: And over the years, there's been tons and tons of fun around tether, you know, that they're obviously a huge company in the space.
10:04
[SPEAKER_01]: They have a lot of money, but you know, there's a lot of people saying, you know, that they're printing stable coins and they don't have the assets to back it and they're moving prices, but that's just not the case.
10:15
[SPEAKER_01]: This audit they pass with flying colors.
10:18
[SPEAKER_01]: I think it's pretty cool.
10:18
[SPEAKER_01]: Number one for tether.
10:19
[SPEAKER_01]: We've had Powell, Al Drino on this year.
10:21
[SPEAKER_01]: That was a great interview.
10:23
[SPEAKER_01]: Um, he's one of the founders of Tether and uh, I just think for the space when you get a KPMG audit like this, it's It's a validation, it's validation for Tether, it's validation for the crypto space as a whole that this is the future of finance We're coming so I kind of check it in that box.
10:37
[SPEAKER_01]: What about you?
10:39
[SPEAKER_00]: Yeah, I think you broke it down perfect TV.
10:41
[SPEAKER_00]: Not much to add.
10:42
[SPEAKER_00]: Just to kind of double down what you said for years, probably the number one criticism was, is where's the full audit?
10:48
[SPEAKER_00]: Where's the full audit?
10:50
[SPEAKER_00]: And it made it happen and they're showing what was it reserved for reportedly exceeding liabilities by 6.8 billion with a B.
10:59
[SPEAKER_00]: So one of the longest running pieces of Ted or Fud just took a major hit.
11:05
[SPEAKER_00]: So this is a great news.
11:06
[SPEAKER_00]: This is good for the crypto industry.
11:09
[SPEAKER_01]: Yeah, even a pala friend of the show truly came on the pod literally this year started started trolling started trolling or something when they're on it now with the fun spelling so he was super super excited I think
11:24
[SPEAKER_01]: you'd have to go back if you haven't listened to that episode of Bryson Brendan and Paul is worth going back and listening because he did give kind of a holistic view of where he thought the market was.
11:34
[SPEAKER_01]: So again, another episode to go back and listen to Bryson did.
11:37
[SPEAKER_01]: I think there is some rumblings that this was happening and Bryson kind of tried to get into spilled the beans and I remember Bryson, I think he asked directly as like who's doing the audit, is it KPMG and then obviously complete deflection, not releasing that information,
11:51
[SPEAKER_01]: Shout out to Bryce, who I believe was a hot on the case as he always is.
11:58
[SPEAKER_01]: And I'll hand it off to you for the next one, get in the kitchen everybody, grab your tin foil wrap here, because Brian wants to sit around and make a tin foil hat with you and break down.
12:10
[SPEAKER_01]: What we're seeing coming out of Washington, obviously, the Clarity Act stalled not what we wanted to see, but we kind of teed it up.
12:17
[SPEAKER_01]: There's going to be a lot going under the surface with the SEC, the CFTC, and we're starting to see it.
12:22
[SPEAKER_01]: So Brian, I'll hand this off to you.
12:24
[SPEAKER_00]: Yeah, I actually messaged do this this morning and I was like, hey man, I got a tin foil hat story and I'm not the first one to come up with this, but things are starting to align here.
12:35
[SPEAKER_00]: So this is probably one of the stories I've watched the closest this morning.
12:38
[SPEAKER_00]: The SEC was supposed to hold this crypto meeting.
12:41
[SPEAKER_00]: I believe it was today and then they just abruptly canceled it.
12:44
[SPEAKER_00]: So officially it was described as a scheduling issue, that stuff happens all the time, but then when you look at what's happening with the CFTC, they have a meeting on August 20th, literally discussing crypto's regulatory evolution from uncertainty to clarity.
13:01
[SPEAKER_00]: So, and inside the actual agenda they're talking about what regulators can do under their existing authority while Congress works on legislation.
13:10
[SPEAKER_00]: So, we have regulators clearly aren't powerless when Congress sits around.
13:15
[SPEAKER_00]: And now, here's my hot take in, and I want to make it very clear this is speculation, but it's probably the truth out there, and you could certainly pull out your Tim Foil hat,
13:30
[SPEAKER_00]: Tim, Tim, for a hat song, but did, did something that was essentially just tell the SEC like they're this meeting the SEC did they just tell them hey we actually think we're going to get clarity done in September so hold off before we you create something that we have to unwind layer later and it kind of more I think about it like
13:51
[SPEAKER_00]: The SEC's guy got to do what they want, and if the senators can't make this decision on the clarity act, and we're very close with it, I'm sorry to think like that could be the case.
14:00
[SPEAKER_00]: I have no evidence of this conversation happened, but clarity gets pushed into September.
14:06
[SPEAKER_00]: The SEC suddenly canceled this meeting, and while meanwhile the CFTC is openly talking about its existing authority,
14:14
[SPEAKER_00]: I just, where there's smoke, there's fire.
14:17
[SPEAKER_00]: I'm starting to really think that the meeting was canceled because somebody called somebody and they were like, hey, don't do this, don't make us look like a, you know what, uh, we can get this done.
14:31
[SPEAKER_00]: So I'm starting to get a little bit more blood off that we might see some clarity action.
14:38
[SPEAKER_00]: Uh, I know it's, I know it's a hot take.
14:40
[SPEAKER_00]: But, you know, I do pretty good with hot takes sometimes.
14:43
[SPEAKER_01]: Then you're gonna make me go on a following market and take the 18% to pass clarity in 2026, dudes.
14:51
[SPEAKER_00]: I'll be honest, I didn't even look at the odds because I would just be like, oh, like, I need to ape into this.
14:57
[SPEAKER_01]: It's 19 cents.
14:58
[SPEAKER_01]: Yeah, get the hammer out.
15:00
[SPEAKER_00]: This is like a lot of speculation.
15:02
[SPEAKER_00]: There's some people out there, like I didn't, I've been reading more about it.
15:06
[SPEAKER_00]: You know, it just seems,
15:09
[SPEAKER_00]: seems like that could be going on just the meeting abruptly canceling and then with some other meetings happening with CFTC I just and we were close I think something there's something being talked about right now behind closed doors with crypto and regulation much more that's being disclosed to the public and I think it's more on the positive side.
15:32
[SPEAKER_00]: Then we really think.
15:34
[SPEAKER_01]: Oh, so much worse.
15:35
[SPEAKER_01]: Where is that right now?
15:37
[SPEAKER_01]: So no.
15:38
[SPEAKER_00]: Yeah.
15:38
[SPEAKER_00]: Yeah.
15:38
[SPEAKER_00]: Yeah.
15:38
[SPEAKER_00]: Yeah.
15:39
[SPEAKER_00]: I can't get much worse.
15:40
[SPEAKER_00]: So where they're smoked.
15:42
[SPEAKER_00]: There's fire and I don't know.
15:45
[SPEAKER_00]: I like my odds there that something's going to be good.
15:48
[SPEAKER_01]: Yeah.
15:48
[SPEAKER_01]: Again.
15:49
[SPEAKER_01]: not personal financial licenses truly borderline gambling if not gambling flat out is like you could play a trade here.
15:56
[SPEAKER_01]: It's at 18 you think these meetings next week are going to leak some positive information going into September to get this done that 18 pops up to 30, 40, 45% you know that's
16:12
[SPEAKER_01]: I think I am too, brother.
16:14
[SPEAKER_01]: I think I am too.
16:15
[SPEAKER_01]: I don't hate it at all because again, where there's smoke, there's fire.
16:17
[SPEAKER_01]: So this August 20th meeting that Brian just talked about.
16:20
[SPEAKER_01]: This came out right before the show is the White House is expected to host a gathering next Wednesday, August 19th pending the Clarity Act of Market structure bill in September.
16:31
[SPEAKER_01]: So the CFTC was going to meet the next day.
16:33
[SPEAKER_01]: And that's the timing of it.
16:35
[SPEAKER_01]: The attendees include digital assets and prediction market leaders.
16:39
[SPEAKER_01]: Um, alongside traditional finance executives, they didn't, they didn't, this is one of those meetings usually the White House, especially this administration likes for at least who's coming.
16:47
[SPEAKER_01]: It's like a big, you know, who's who and and what I, at least what I read for today was they're not releasing the list yet.
16:54
[SPEAKER_01]: Now whether the list comes out or not remains to be seen next week.
16:57
[SPEAKER_01]: We'll obviously cover that.
16:59
[SPEAKER_01]: Um, but yeah, it's unconfirmed who's coming.
17:01
[SPEAKER_01]: It's unconfirmed if the president will even attend the gathering.
17:04
[SPEAKER_01]: So, but the summary is where they're smoke.
17:07
[SPEAKER_01]: There's fire just like Brian said.
17:09
[SPEAKER_01]: So really interesting stuff, just when you think the clarity at quote unquote is dead, it's still got a heartbeat there.
17:17
[SPEAKER_00]: Yeah, I mean, that that's the time I like to buy notes like a warm buffet quote, but like you know, you do pretty well when everybody is against one side and it doesn't quite add up and there's just blood and the streets you can do pretty well just from an overall trading thesis there.
17:34
[SPEAKER_00]: So what we'll see how it all shakes out.
17:36
[SPEAKER_00]: I'm sure we'll have some rundowns up until that point by knowing I think the odds are right.
17:41
[SPEAKER_00]: But that, I don't know, there's something going on.
17:44
[SPEAKER_00]: I think that's the biggest.
17:45
[SPEAKER_01]: I'm out next Friday, the 21st.
17:47
[SPEAKER_01]: So then we're going to do a rundown of the 20th, the exact days.
17:50
[SPEAKER_01]: We can recap the 19th.
17:52
[SPEAKER_01]: We can get the early sniffings of what's going on on the 20th.
17:55
[SPEAKER_01]: And we'll break it down for you all.
17:56
[SPEAKER_01]: So again, just another call.
17:58
[SPEAKER_01]: uh... to subscribe bottom right hit the logo uh... give us a like really appreciated uh... active in the chat today we got c.j.a.e.
18:05
[SPEAKER_01]: we got trinity uh... let us know where everybody's watching from uh... and if you're enjoying the show any questions let us know on this fun Friday
18:14
[SPEAKER_01]: Even though the price action is not going our way, maybe the regulation isn't quite going our way, but it doesn't shy away these big, traditional firms from getting more and more in-grain in the crypto.
18:25
[SPEAKER_01]: Whenever I see a big firm offer something to their clients and to the public, I think it is a big deal worth covering.
18:31
[SPEAKER_01]: And so, fidelity here, fidelity is going to offer yield on their teeth.
18:37
[SPEAKER_01]: They're going to be able to add staking to its spot,
18:44
[SPEAKER_01]: The fidelity fund could stake up to 100% for $480,000.
18:48
[SPEAKER_01]: So the fidelity stake went, you know, again, that's a long-term, long-term belief.
18:55
[SPEAKER_01]: What do you like when they, these bigger firms like to start getting involved, obviously buying, holding on their balance sheet, or for customers running the funds and then stake them, is that bullish do you or doesn't matter?
19:08
[SPEAKER_01]: What do you think when you see the funds?
19:10
[SPEAKER_00]: Now dude, it's definitely bullish structural development for ETH.
19:14
[SPEAKER_00]: I mean, one of the most obvious arguments holding an ETH ETF.
19:19
[SPEAKER_00]: And I've said this the last two is, why would I buy the ETH ETF and give up my state-staking yield?
19:25
[SPEAKER_00]: The ETH I hold, I earn a stake on.
19:27
[SPEAKER_00]: Now, fidelity's trying to change that.
19:29
[SPEAKER_00]: And they should.
19:30
[SPEAKER_00]: Their structure could allow the ETF to stake a significant portion of its teeth, retained, I think, like 85% of the stake in rewards.
19:37
[SPEAKER_00]: And then potentially distribute that income back to investors.
19:41
[SPEAKER_00]: So now you're talking about ethics bozier, stake in yield, in a regulatory fidelity wrapper.
19:47
[SPEAKER_00]: That's a much easier product for traditional investors to understand, and that's where we're going.
19:56
[SPEAKER_00]: do it fidelity.
19:57
[SPEAKER_00]: It's it's a no-brainer and people will like it.
20:01
[SPEAKER_00]: It may be right off the cuff seat people see this headlines like a traditional investor and they don't fully understand it but they will once they start getting rewards distributed to them.
20:11
[SPEAKER_00]: Then all of a sudden I'm going to think about the twice about it as well because I have some Bitcoin ETF.
20:16
[SPEAKER_00]: I didn't put a lot into the ETF and because of that reason why would I
20:21
[SPEAKER_00]: by the ECTF a lot of time and give up a stake in guilt.
20:24
[SPEAKER_00]: Now, there's some other offerings out there that they're doing that.
20:27
[SPEAKER_00]: I actually have fidelity's Bitcoin ETF, but literally when I saw this, I was like, all right, like this is starting to make some more sense, and I think people are going to like it.
20:36
[SPEAKER_00]: I like this move.
20:37
[SPEAKER_00]: It's a no-brainer.
20:38
[SPEAKER_01]: Yeah, and then just something that I saw while we're talking about, Ethan is the bit-mind preferred stock closed at its highest closed ever since he's been doing.
20:50
[SPEAKER_01]: So it's going, it's going up.
20:51
[SPEAKER_01]: That's not necessarily what it's designed to do.
20:53
[SPEAKER_01]: It's supposed to be par, but it's going up.
20:56
[SPEAKER_01]: Meanwhile, stretch has been under par for over two months now.
21:01
[SPEAKER_01]: I took a quick look at the chart.
21:02
[SPEAKER_01]: I think it was like early June, June, second June, fifth.
21:06
[SPEAKER_01]: uh... where that that had the first dip and then the bigger dip after but you know it's been two months and stretches been back to par uh... meanwhile uh... smooth sailing over at the bitmind preferred b mnp
21:19
[SPEAKER_00]: There's consistent investor demand for these products and that's another pathway for capital to ultimately flow towards teeth so great to see You know, great to see bitmind kind of holding it up and in the whole stretch Strategy sailor deal sailors like he sold like 32 Bitcoin and like nuked the chart
21:40
[SPEAKER_00]: And but it kind of like play out exactly thought then he started selling more more Bitcoin and just building up his cash reserves.
21:47
[SPEAKER_00]: I know you probably talked about this on past run downs now they got like 4 billion in cash and really
21:53
[SPEAKER_00]: things didn't take as big of a hit like a strategy stock.
21:55
[SPEAKER_00]: It didn't take as big of a hit as I was expecting.
21:58
[SPEAKER_00]: So it's kind of to see a kind of, what's the word?
22:00
[SPEAKER_00]: Like almost like depague from it, but this is great news for BitMine.
22:05
[SPEAKER_01]: It's a maturing market because the products help for so new much less the Bitcoin Ethereum being what's powering them.
22:11
[SPEAKER_01]: And so it's like there's a lot of people, especially like the market in general,
22:16
[SPEAKER_01]: probably wants to test sailors, as much as he can with that balance, and so this is just the natural process of trying to figure out the digital strategy that he's doing, and it's good to, you know, obviously shake the people out that don't want to be there anymore, and it seems like
22:32
[SPEAKER_01]: he's found at least for, you know, strategy stock, you know, he's found his people to keep it kind of where it's at.
22:40
[SPEAKER_01]: And like you said, when he's selling larger amount, at least sold the small amount of Bitcoin Bitcoin tumble.
22:45
[SPEAKER_01]: And now he's selling much, much larger positions.
22:47
[SPEAKER_01]: And it's not moving the market.
22:49
[SPEAKER_01]: So I think that's a good maturing phase of these products.
22:53
[SPEAKER_00]: Yeah, and he's in that work all kind of figuring this out a little bit together as well.
22:58
[SPEAKER_00]: I mean, for goodness it wasn't sale or who was like, yeah, I created stretch by like talking to a chat pot.
23:03
[SPEAKER_00]: And but not to say that like it's a good resource for sure, but like, you know, we're caught all kind of figuring this out a little bit and it's it's good to see it mature.
23:14
[SPEAKER_00]: I think that's a really excellent way to put it.
23:17
[SPEAKER_01]: yeah no it's been it's been fun to cover because there's always something something to talk about and on that note not necessarily something fun to talk about but we have a lot of oil listeners and you know this is negative news but it's something that you should know so just to start with treasure wallets have had uh information
23:38
[SPEAKER_01]: for people that own them might have been leaked.
23:41
[SPEAKER_01]: And it has nothing to do with passwords.
23:42
[SPEAKER_01]: I believe, you know, there's no risk of hacks or anything like that.
23:47
[SPEAKER_01]: So we got to put that out first.
23:48
[SPEAKER_01]: No, your funds are safe on treasure, but something to note is that 11,000 customers seem to have been affected.
23:55
[SPEAKER_01]: And there's a partial data exposure.
23:57
[SPEAKER_01]: And so I read a little into this.
23:59
[SPEAKER_01]: I think it's just names, addresses, and post phone numbers.
24:02
[SPEAKER_01]: And so we bring this up, not to really break it down or trash treasure it.
24:07
[SPEAKER_01]: It happens, the wallets are safe for now.
24:10
[SPEAKER_01]: I'm sure Treasure will alert us if there's any update on that.
24:13
[SPEAKER_01]: But you just need to be careful.
24:14
[SPEAKER_01]: This is like, you're gonna be getting fished.
24:16
[SPEAKER_01]: If you're in that 11,000 people, they get your data leaked.
24:20
[SPEAKER_01]: Obviously, you need to be aware of fishing links, tax calls, emails, the whole nine, all the time, and any, whether it's regular finance, crypto, anything.
24:29
[SPEAKER_01]: They're all over the place.
24:30
[SPEAKER_01]: But for this specific program, we know a lot of people,
24:35
[SPEAKER_01]: hold treasurer we like treasurer we had them on the podcast they're on the safe while at list but especially if you if you were in that data leak just be on the lookout if you see anything treasurer based calls tax be very very extra diligent about that anything to add run
24:52
[SPEAKER_00]: I've recommended to translate to a lot of people.
24:54
[SPEAKER_00]: I mean, I think the biggest takeaway is private keys weren't stolen, seed phrases weren't compromised, treasure walled themselves weren't hacked, none of that happened.
25:02
[SPEAKER_00]: This came from a third party shipping provider, where it was like you said, names, emails, phone numbers, physical addresses, in some cases were exposed.
25:10
[SPEAKER_00]: So it's sensitive information, but it's just another reminder that self custody solves one security problem, but operational privacy still matters.
25:19
[SPEAKER_00]: And you know, it's stuff like this happens a lot.
25:23
[SPEAKER_00]: Just you're probably going to get a lot more phone calls on your cell phone saying that you were approved for like a home mortgage and call sharing to like follow up.
25:31
[SPEAKER_00]: It's, um, it's kind of the world we live in.
25:35
[SPEAKER_01]: Yeah, just so we just wanted to bring that to people's attention just so they're aware because again, knowledge is power, especially in these situations.
25:44
[SPEAKER_01]: Rapping up on some fun things in Brian's neck of the woods.
25:46
[SPEAKER_01]: Let's go to the NFT meme coin world to wrap it up.
25:49
[SPEAKER_01]: Gary Vee.
25:50
[SPEAKER_01]: Make it Gary Vee's.
25:52
[SPEAKER_01]: Yeah.
25:52
[SPEAKER_01]: I love this.
25:53
[SPEAKER_01]: I love when this guy comes around and starts talking his, uh, his book and his projects, um, and he just sees such a way with words.
26:01
[SPEAKER_01]: So let's listen to, to Gary, uh, talk about his NFT projects.
26:05
[SPEAKER_01]: I love it.
26:06
[SPEAKER_02]: when that's about the three characters that you think are kind of the most slept on right now.
26:09
[SPEAKER_03]: To nature's term, I create a crab and a happy hermit crab.
26:13
[SPEAKER_03]: Though the gentle giants have had to go through a massive blow-up and so if you're a gentle giant collector or you're thinking about picking up a series two on FTA or if you want to buy some gentle giant cards on eBay, I'm just giving you alpha because it's fun.
26:24
[SPEAKER_03]: I like it too to go on a, the tune of Guan is gonna have their day.
26:27
[SPEAKER_03]: Gentle giant is getting a massive, massive massive blow-up.
26:32
[SPEAKER_01]: You know, who I bet saw that and ran to go by a gentle giant is our friend Joe.
26:37
[SPEAKER_01]: I feel like Joe loves the get the he's been to VCon.
26:41
[SPEAKER_01]: I think when he heard gentle giant was getting a glow up.
26:44
[SPEAKER_01]: That's our guy.
26:46
[SPEAKER_00]: Well, Joe's a little salty at Gary Vee because of his fly fish rush drunk like NFT.
26:51
[SPEAKER_00]: He always like actually it's interesting.
26:53
[SPEAKER_00]: You know, when I was a draft king, I worked pretty closely with Gary Vee was on like quite a few calls, met him quite a few times, actually gave him a recommendation.
27:02
[SPEAKER_00]: Whenever you're doing it that I wanted I wanted a collaboration between draft I don't know But you can say I wanted a collaboration between V friends and draft kings and I get I said oh we could do something like a draft kings D. Jen Donkey that was my character named me and he was like oh Oh, I he was like on the call.
27:19
[SPEAKER_00]: He's like I actually came up with that name in the past and we all were like laughing like oh Yeah, you came up with it after I brought it up, but I just like it just like he is
27:31
[SPEAKER_00]: In these social media clips he's kind of just like that on calls and in person and I had to off to him that he does nail some calls, but what did Gary restart popping up again and NFTs are moving with all these characters from 2020 and 1 starts showing up all over the timeline.
27:49
[SPEAKER_00]: It's kind of the unofficial risk appetite indicator that things are starting to come back and and if two years are kind of getting a little bit come back, meme coins are picking up some steam on chain activities picking up a steam.
28:02
[SPEAKER_00]: So this is a really good indicator.
28:05
[SPEAKER_00]: It's good of an indicator as like when my father texts me, hey, is it time to buy Bitcoin?
28:12
[SPEAKER_00]: We should all be selling
28:16
[SPEAKER_00]: but I think it's interesting he was he was getting a lot of slack for this but uh you know good old gentle i could see you wanting a gentle giant of you friends card they always always open to everything you know not against anything
28:32
[SPEAKER_01]: But we'd have to do our research Brian do our research.
28:36
[SPEAKER_01]: What kind of glow-up is this?
28:39
[SPEAKER_01]: And it's not the only thing that's getting glow-ups and new things on the market.
28:42
[SPEAKER_01]: Cole, I know you've been a big follower of Cole.
28:45
[SPEAKER_01]: He created Puggy penguins in 21 and then sold the brand to Luca Netto then has kind of wrote it to where it is today and built up that brand, which we've always covered on the show in a big fans of.
28:57
[SPEAKER_01]: But five years later, he's launching a brand new collection on Robin Hood
29:01
[SPEAKER_01]: uh... seen is like a mitten mitten mitten right hood
29:12
[SPEAKER_00]: I mean, so Paul was one of the original Puggy Penguin founders back when it was a new and now he's back with this new NFT on the Robinhood chain, which are kind of NFT projects and Robinhood are kind of popping off.
29:24
[SPEAKER_00]: So of course, Cole's dust and it off and coming out with Sprite Hood, there's obviously a lot of history and controversy around Cole in the original team.
29:33
[SPEAKER_00]: So I'm not making this a coal endorsement by any means, but what we care about is kind of what he launched here.
29:39
[SPEAKER_00]: It's a 44,444 NFTs on the Robinhood chain.
29:45
[SPEAKER_00]: So he's a huge collection.
29:47
[SPEAKER_00]: Dude, it's so bad immediately.
29:50
[SPEAKER_00]: in a for a right around like a cool 1.3 million and that's another signal though that will robin a chance become just more than like a tokenized stock experiment that we've talked about in the past we're seeing meme coins we're seeing NFTs we're seeing uh increasingly crypto native activity showing up there
30:09
[SPEAKER_00]: And it's something I'm continuing to watch a lot closer because they have such a grasp on retail holders, a lot of our calls with our community have been really around Robinhood because that's where a lot of the attention is so this is kind of like back to like when coal starts popping up and doing NFT projects, um,
30:28
[SPEAKER_00]: The risk app tights probably back on now there might be something really cool behind it I don't I don't want to get tuned to the weeds.
30:34
[SPEAKER_00]: He's very controversial with coal and it like a love emmer hate them But Made a cool million bucks on 44,000 NFTs don't tell me NFTs are dead when that happens to solve out like immediately Yeah, not a bad Not a bad drop there.
30:49
[SPEAKER_01]: We got it.
30:49
[SPEAKER_01]: We got a drop in NFTs
30:53
[SPEAKER_00]: We got it.
30:53
[SPEAKER_01]: Well, I'ma, we got to do right.
30:55
[SPEAKER_01]: Rubble mama, right?
30:56
[SPEAKER_01]: That one, that one, that one, that one.
30:59
[SPEAKER_00]: He texted me that, man.
31:00
[SPEAKER_00]: And like, no joke, I have like really creative ideas of like how that would be really cool for people and the band and all of that.
31:08
[SPEAKER_00]: It's, you could do some really fun stuff with NFTs and just the connection with real world, marketing and assets, but the Revolution Lama did.
31:20
[SPEAKER_00]: I love it.
31:21
[SPEAKER_01]: the rebel llama took over the orange county fair this weekend um yeah it was it was a mini mini viral sensation it was quite fun um as we wrap up this Friday pretty good live chat wasn't too active today but we really appreciate everybody that tuned in one last call check out below
31:42
[SPEAKER_01]: We've got the number one coin owner right now, Bryce and the team have worked really hard on that, so check that out and check out our other links.
31:48
[SPEAKER_01]: And if you can, give this video a thumbs up, bottom right one last call to subscribe.
31:52
[SPEAKER_01]: If you want to be in the lives while we're doing it live, make sure you subscribe.
31:56
[SPEAKER_01]: Turn on the bell notifications so you know when we're planning these, Brian, thanks so much, always fun doing it with you and thank you to everybody watching and listening.
32:03
[SPEAKER_01]: I hope you have a great weekend, but that's all for now.
32:06
[SPEAKER_01]: Bye bye, everybody.