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Transcript

Mo 31/8 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:06
  SPEAKER_00: Happy Monday, everybody.
• 0:07
  SPEAKER_00: Let's get into what's been happening over the past 24 hours because there's plenty
• 0:12
  SPEAKER_00: to unpack as we kick off a new week.
• 0:14
  SPEAKER_00: Michael Saylor hinted at buying more Bitcoin,
• 0:17
  SPEAKER_00: posting we're back, which usually means another big purchase announcement is coming.
• 0:21
  SPEAKER_00: It's coming soon, so keep your eyes peeled for that.
• 0:24
  SPEAKER_00: Strive also bought 1,100 Bitcoin for $85 million,
• 0:29
  SPEAKER_00: continuing the corporate treasury accumulation trend we've been tracking.
• 0:36
  SPEAKER_00: Investors are putting less than a 25% chance
• 0:39
  SPEAKER_00: on Bitcoin outperforming gold this year,
• 0:42
  SPEAKER_00: which shows there's still some skepticism out there despite the recent rally.
• 0:46
  SPEAKER_00: Coinbase expanded Bitcoin backed mortgages without selling Bitcoin
• 0:52
  SPEAKER_00: or facing margin calls,
• 0:54
  SPEAKER_00: giving holders another way to access liquidity while staying long.
• 0:59
  SPEAKER_00: On the geopolitical front,
• 1:01
  SPEAKER_00: Brent crude oil surged back over $90 as the US and Iran resumed strikes,
• 1:08
  SPEAKER_00: and President Trump said he will fill US strategic oil reserves with Venezuelan oil.
• 1:15
  SPEAKER_00: The macro picture continues to look concerning with US national debt,
• 1:19
  SPEAKER_00: now at 124% of GDP,
• 1:21
  SPEAKER_00: which is four times higher than in the early 1980s,
• 1:24
  SPEAKER_00: and the debt has increased by more than $700 billion since July 1 alone.
• 1:35
  SPEAKER_00: What makes this particularly unusual is that we're running large deficits during
• 1:40
  SPEAKER_00: an economic expansion with unemployment at just 4%,
• 1:44
  SPEAKER_00: which historically isn't how things work.
• 1:47
  SPEAKER_00: Looking at big tech earnings,
• 1:49
  SPEAKER_00: trailing 12-month net income stands at $244 billion for Google,
• 1:53
  SPEAKER_00: $193 billion for Nvidia,
• 1:54
  SPEAKER_00: $135 billion for Amazon,
• 1:55
  SPEAKER_00: $134 billion for Microsoft,
• 1:56
  SPEAKER_00: $129 billion for Apple,
• 1:57
  SPEAKER_00: $86 billion for Berkshire Hathaway and $68 billion for Metre.
• 2:12
  SPEAKER_00: Meanwhile,
• 2:13
  SPEAKER_00: combined Russell 2000 net income is negative $15 billion,
• 2:17
  SPEAKER_00: which really illustrates the concentration of profits at the top.
• 2:22
  SPEAKER_00: This week's earnings calendar is led by Broadcom,
• 2:25
  SPEAKER_00: Dell and Snowflake, with attention on AI demand, cloud growth and forward guidance.
• 2:32
  SPEAKER_00: An ECB executive board member called for central bank money to move onto
• 2:37
  SPEAKER_00: the blockchain using smart contracts.
• 2:39
  SPEAKER_00: Which is pretty forward thinking for a central banker.
• 2:43
  SPEAKER_00: Calci traders are putting a 69% chance on Claude being the best AI at the end
• 2:49
  SPEAKER_00: of 2026, so the AI race remains competitive.
• 2:53
  SPEAKER_00: On the altcoin On the other side,
• 2:56
  SPEAKER_00: RLUSD supply crossed $1 billion on the XRP ledger,
• 3:01
  SPEAKER_00: and RLUSD supply on Ethereum surpassed the XRP ledger after growing about 93%
• 3:10
  SPEAKER_00: So Ripple's stablecoin is gaining serious traction.
• 3:13
  SPEAKER_00: Monero rallied 8.9% after a Thor chain upgrade added native support for XMR swaps.
• 3:22
  SPEAKER_00: Charles Schwab plans to add trading for Solana.
• 3:24
  SPEAKER_00: Avalanche and Chainlink which will bring more mainstream access to these assets.
• 3:30
  SPEAKER_00: The Robinhood Chain ecosystem is heating up with Robinhood Chain flipping Ethereum
• 3:35
  SPEAKER_00: and Hyperliquid in 24-hour app revenue while base dropped out of the top five.
• 3:41
  SPEAKER_00: Ponds flipped both FOMO and Hyperliquid in 24-hour revenue,
• 3:46
  SPEAKER_00: and Robinhood Chain daily NFT trading volume hit a new all-time high.
• 3:53
  SPEAKER_00: Traders posted large paper gains on Robinhood-based ponds,
• 3:58
  SPEAKER_00: including one wallet up more than $3.5 million after putting in about 67.5 thousand.
• 4:07
  SPEAKER_00: FOMO had a temporary service outage with a bridge partner affecting cross-chain buys
• 4:12
  SPEAKER_00: and sells, but that appears to be resolved.
• 4:16
  SPEAKER_00: That's your crypto and finance wrap for today.
• 4:19
  SPEAKER_00: Make sure to follow along and I'll catch you tomorrow with another update.
• 4:23
  SPEAKER_01: Panic Drop is where we find the truth.
• 4:27
  SPEAKER_01: Listen to the Panic Drop.