Latest / CRYPTO 101 / Crypto Rundown: Charles Schwab Enters Crypto & Technical Analysis Breakdown

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Crypto Rundown: Charles Schwab Enters Crypto & Technical Analysis Breakdown · CRYPTO 101

0:07
[SPEAKER_08]: All right, everybody.
0:08
[SPEAKER_08]: Welcome back to the crypto rundown Bitcoin is sitting at a critical level right now and at the same time We are seeing more major institutions pile in Charles Schwab is the latest to roll out crypto trading We're gonna break that down and as we know when big money starts moving in before price
0:25
[SPEAKER_08]: It usually follows guys.
0:26
[SPEAKER_08]: We're given the old school zoom out.
0:29
[SPEAKER_08]: Look at the fundamentals.
0:30
[SPEAKER_08]: This episode is jam packed with Charles Schwab, black rock, tons of more bullish sentiment around all coins as well.
0:36
[SPEAKER_08]: We're going to be leading off with Brendan technical analysis diving into the charts.
0:41
[SPEAKER_08]: We're doing Bitcoin Ethereum, Solana.
0:43
[SPEAKER_08]: And if you're with us live in YouTube, throw us some requests.
0:46
[SPEAKER_08]: Maybe we'll get to them.
0:47
[SPEAKER_08]: So guys, listen, the question isn't just where Bitcoin goes next, it's why institutions are stepping in now.
0:52
[SPEAKER_08]: We're going to cover it with you over the next 40 plus minutes or so with my friend, Brendan, Brendan, welcome in and welcome back to the rundown.
1:01
[SPEAKER_08]: Good to have you.
1:02
[SPEAKER_01]: What in the world has happened since we left last week, man?
1:06
[SPEAKER_01]: What in the world all sorts of news, volatility, there's hacks, exploits, good, bad, everything.
1:14
[SPEAKER_01]: I guess that's why we do the rundowns in the first place is to just explain everything that's happening.
1:21
[SPEAKER_01]: But we're back in this cycle of it feels like each rundown is going to be bigger and better and more important than the prior one.
1:28
[SPEAKER_01]: That's what we got in front of us here today, so I think it's going to be a pretty exciting episode, buckle your seatbelts, everyone turn up the volume a little bit, because we got a lot to talk about.
1:39
[SPEAKER_01]: I guess we should probably just kick it off with the charts and stuff, right?
1:42
[SPEAKER_01]: The macro outlook.
1:44
[SPEAKER_08]: Yeah, let's dive in.
1:45
[SPEAKER_08]: I like to say you say it and I say it sometimes with Brian as well, is like sometimes we do the run down just for ourselves so we can
1:52
[SPEAKER_08]: keep our head straight of what's going on.
1:54
[SPEAKER_08]: So a quick recap from a macro outlook at the end of last week.
1:57
[SPEAKER_08]: It was announced.
1:58
[SPEAKER_08]: The straight of her moves is open.
2:00
[SPEAKER_08]: The wars over yaddi yadda.
2:02
[SPEAKER_08]: The markets loved it.
2:03
[SPEAKER_08]: The traditional markets loved it.
2:04
[SPEAKER_08]: Bitcoin was moving a little bit.
2:05
[SPEAKER_08]: And the bears were in shambles.
2:07
[SPEAKER_08]: The war hawks were in shambles.
2:09
[SPEAKER_08]: And then in classic administration fashion.
2:11
[SPEAKER_08]: there's still talks is the blockades open the wars back on like who at this point really knows so i my opinion nothing quite has changed there yet except the market seems to be sniffing out some type of resolution or they're just moving past it entirely because they don't believe that this administration truly wants to interrupt the energy infrastructure over in the Middle East so the market's stiffen it out so all the more reason to instead of listening to this back and forth rhetoric
2:38
[SPEAKER_08]: Let's open up the charts and see what was happening on the back end of last week.
2:43
[SPEAKER_01]: Yeah, we make a good point that it looks as if the markets are getting back into more of a risk-centered approach.
2:51
[SPEAKER_01]: And you saw that across the board.
2:53
[SPEAKER_01]: I just want to show this real fast, you know, NASDAQ moment of silence for the bears out there.
2:58
[SPEAKER_01]: They're in silence, they are in shambles, indices across the board shooting the new all-time highs, you know, NASDAQ.
3:06
[SPEAKER_01]: You had the S&P 500 shooting the new all-time highs.
3:09
[SPEAKER_01]: I saw you even had small caps on like the Russell shooting the new all-time highs here.
3:14
[SPEAKER_01]: So moment of silence for the bear is what that shows us from the crypto space is that risk is coming back into the markets.
3:24
[SPEAKER_01]: and to increasingly more risky investments, and they're not trying to be as safe as they were before.
3:30
[SPEAKER_01]: I think the second thing is you kind of alluded to this, but it looks like
3:34
[SPEAKER_01]: The average investor and trader is becoming pretty numb and callous to all of this geopolitical news and all of this energy news and they're starting to get past it.
3:45
[SPEAKER_01]: Number one, it does look like there's resolutions on the horizon and stuff like that.
3:49
[SPEAKER_01]: But I think people are just becoming numb to it.
3:51
[SPEAKER_01]: They are looking at it from a traditional financial and even a decentralized way and they're saying,
3:57
[SPEAKER_01]: The inflation hasn't been as bad, hasn't been as bad, core CPI hasn't been as bad, PPI hasn't been as bad, earnings are still good.
4:05
[SPEAKER_01]: And if people are saying, you know, what are we getting so upset about?
4:07
[SPEAKER_01]: And I think people are becoming cows and numb.
4:09
[SPEAKER_01]: They're kind of moving away from a lot of the stuff that we were scared about.
4:12
[SPEAKER_01]: Now for crypto, this is a big deal.
4:14
[SPEAKER_01]: Because this makes the clarity act kind of come back into the spotlight.
4:19
[SPEAKER_01]: And as, you know, the administration has less of other things to potentially worry about and we'll see what happens because it seems like it changes from week to week, but if that is true, and things are de-escalating, then that means that the clarity act gets to get brought back to the spotlight and we've seen some chatter from that in the recent week or so.
4:40
[SPEAKER_01]: So as risk comes back, crypto here has been moving up.
4:44
[SPEAKER_01]: Not quite to the same degree where you saw again a lot of the track by side, moving back to all time highs.
4:51
[SPEAKER_01]: But you did see a really solid rally here, you know Bitcoin, Ethereum, a handful of others pushing into new highs.
5:00
[SPEAKER_01]: Bitcoin moving all the way up to around 78 and 1,500 here, even had a hyper-liquid which was pushing up into new all-time highs, sky coming off some of those highs as well, still hanging out up there.
5:19
[SPEAKER_01]: But one that we haven't talked about is a lot, but Venice, VVV, pushing into borderline price discovery mode, here's that hyperliquid chart coming off of, not, I think I said all time highs.
5:30
[SPEAKER_01]: I did not mean that.
5:31
[SPEAKER_01]: New yearly highs, excuse me, for hyperliquid
5:34
[SPEAKER_01]: Still kind of across the board here, pretty solid moves and you solve everything pushing to the upside.
5:40
[SPEAKER_01]: Now, I've talked about why I'm long-term bullish.
5:43
[SPEAKER_01]: I've talked about how there's this fantastic argument that crypto is in a just a beautiful spot.
5:51
[SPEAKER_01]: However,
5:52
[SPEAKER_01]: Um, I want to offer two pieces of counter evidence in just a moment.
5:57
[SPEAKER_01]: Before we get into that, this is what the chart still looks like, right?
6:00
[SPEAKER_01]: You know, we've looked at this anchored v-wop from the lows of the 2022 lows that orange line on the bottom there.
6:07
[SPEAKER_01]: You know, we're seemingly holding above that quite well.
6:10
[SPEAKER_01]: You look at the 200 week moving average.
6:12
[SPEAKER_01]: Let's just show that real fast because we've shown that before.
6:15
[SPEAKER_01]: That has been a fantastic area of support.
6:18
[SPEAKER_01]: And let's just switch over on our charts so that everyone on the screen can see this.
6:23
[SPEAKER_01]: But the 200 week moving average has been a fantastic support area for years about a decade now.
6:29
[SPEAKER_01]: Really since this thing's inception, it's been a beautiful support.
6:32
[SPEAKER_01]: You go to the 200 or you go to the Bitcoin weekly relative strength index.
6:39
[SPEAKER_01]: You know, this thing looking like it's bouncing off of its core support.
6:42
[SPEAKER_01]: You look at the Bitcoin weekly MACD and this thing's rounding back to the upside and seeing the buyers come back in.
6:49
[SPEAKER_01]: So there's a lot of evidence here that would say, hey, from a more zoomed out approach, it looks like a good spot for Bitcoin.
6:55
[SPEAKER_01]: However, the two pieces of maybe counter data that still gives the bears a little bit of validity.
7:03
[SPEAKER_01]: is two things.
7:04
[SPEAKER_01]: Number one, the overall downtrend is still intact, right?
7:08
[SPEAKER_01]: The trend is still pointed downwards.
7:10
[SPEAKER_01]: We have not broken out of the downtrend no matter how you kind of draw this thing.
7:14
[SPEAKER_01]: We are still seeing lower lows and lower highs and the second thing that's kind of a part of this bearish narrative is that we have not broken
7:23
[SPEAKER_01]: out.
7:23
[SPEAKER_01]: We have not disqualified this bear flag and rising channel that we've seen so far, which has been the rinse and repeat pattern of what happens.
7:33
[SPEAKER_01]: Now bear flags in these rising channels for people who aren't as familiar.
7:36
[SPEAKER_01]: You basically get to move down followed by a rising channel like formation like this.
7:41
[SPEAKER_01]: And we call this a continuation pattern or a bare flag, so you see another one move down another one much larger rising channel move down and now we're in another one of these I mean you can very clearly see no matter how you kind of draw this up that
7:56
[SPEAKER_01]: Bitcoin has been making, you know, relatively speaking, higher highs and higher lows off this low point.
8:03
[SPEAKER_01]: And you've seen it go back and forth over in here.
8:06
[SPEAKER_01]: And it's still very much sticking to that plan.
8:08
[SPEAKER_01]: And you do have a little bit of a rejection up in here.
8:11
[SPEAKER_01]: So I think if you are looking for a breakout, step number one, we need to disqualify this thing.
8:17
[SPEAKER_01]: We need to invalidate it.
8:18
[SPEAKER_01]: You need to see this bearish rising channel.
8:21
[SPEAKER_01]: Just
8:22
[SPEAKER_01]: fall apart, you need to see its structure break, and that will be the first step in a reversal.
8:27
[SPEAKER_01]: Now, I will say where we're at here inside of this bear flag, does look substantially better than where we looked at in here.
8:33
[SPEAKER_01]: I think there's a lot of evidence to point towards that.
8:35
[SPEAKER_01]: However, even with it looking better, A, the downtrend is not broken, and the trend is not our friend right now.
8:42
[SPEAKER_01]: And B, you know, this bear flag is still very much there and we just rejected towards the top of it at yet another higher swing high and side of this.
8:54
[SPEAKER_01]: So a little bit careful up in here, you know, if we do get kind of this bear flag rejection that means we could go back towards.
9:00
[SPEAKER_01]: These shorter-term moving averages towards the support of this rising channel, it could bring us back towards the low 70,000s if you do get a proper rejection of this and if you get a full break of the lows here, that's where you're looking at a retest of the low 60s, perhaps even in the 50,000s.
9:18
[SPEAKER_01]: and until this bearish channel gets invalidated, you have to look at that as a possibility.
9:24
[SPEAKER_01]: Certainly not a certainty, but it's, you know, we're at an interesting spot here where there's pretty solid bullish evidence.
9:30
[SPEAKER_01]: There's pretty solid bearish evidence.
9:33
[SPEAKER_01]: The one thing that makes me,
9:36
[SPEAKER_01]: I don't know if concerns are the right word, but one of the things I just don't like to see is when the markets are becoming more risk on TV, one of the big things I like to look at is, hey, if the markets are becoming more risk on, and people have all this cash on the sidelines and they're putting it back into the markets and they're putting it to work.
9:54
[SPEAKER_01]: I like to look at where it's flowing into.
9:56
[SPEAKER_01]: And there is certainly a decent amount coming in the crypto, however, if you look at, again, what's happened here is if you compare this to the traffic side, it looks as if that's going into, you know, more traffic tech, which had been overextended.
10:14
[SPEAKER_01]: And you haven't seen the same level of maybe devotion into crypto.
10:20
[SPEAKER_01]: So it looks as if more I would say of the risk on money that's coming in is going into some other places.
10:27
[SPEAKER_01]: A decent amount of it's going into crypto.
10:29
[SPEAKER_01]: But I would have wanted to see a little bit more given how overextended crypto has been.
10:35
[SPEAKER_01]: And I think a lot of that comes down to people waiting and saying, we want to see what's going to happen with the Clarity Act.
10:40
[SPEAKER_01]: We want to see what's going to happen with some of these other things.
10:44
[SPEAKER_01]: Excited about it for a while, and it's been somewhat sideline, so it does look like that's going to remain as a major catalyst.
10:51
[SPEAKER_01]: In, you know, besides that here, again, ETH trying to make a little bit of a push higher.
10:56
[SPEAKER_01]: If we get any kind of a break out on Bitcoin, it probably brings us back to the mid 80,000, around 85,000 is a good spot.
11:06
[SPEAKER_01]: And for ETH we're going to push any higher.
11:08
[SPEAKER_01]: I could see around 27 to 2800.
11:10
[SPEAKER_01]: being a pretty realistic upside target, if we're able to go anywhere so.
11:16
[SPEAKER_01]: I'm cautiously optimistic in this zone.
11:19
[SPEAKER_01]: Again, I'm a long-term bull.
11:20
[SPEAKER_01]: I think there's a lot of evidence down here that says, hey, we're at a good long-term opportunity.
11:25
[SPEAKER_01]: I have some longs out there right now.
11:28
[SPEAKER_01]: However, with some of the stuff that we're seeing, I'm being somewhat cautiously optimistic.
11:33
[SPEAKER_01]: I'm not full-fledged bull.
11:35
[SPEAKER_01]: I'm not max-lovered long.
11:37
[SPEAKER_01]: I haven't thrown all my drive-houted into the market yet.
11:40
[SPEAKER_01]: I got some of it still sitting on the sidelines of saying, hey, you know,
11:43
[SPEAKER_01]: There's a possibility we go lower, so I don't want to be too too risky here in two gungho, but I certainly do want to be getting some exposure and as I've said for a while taking different positions, I've definitely been DCAing almost the entire time and the DCA thing is not something that I plan to go away here, because I think again, a lot of long-term value in some of these fundamentally strong larger cat projects which are just a little bit less risky,
12:11
[SPEAKER_01]: That's where I'm standing.
12:12
[SPEAKER_01]: That's what I'm thinking, Tiva.
12:14
[SPEAKER_08]: You know, what about the Launa?
12:15
[SPEAKER_08]: I think we got some, some, some Launa news to talk about today.
12:18
[SPEAKER_08]: A lot of a lot of high usage, just a lot of big, you know, big money rolling around in Launa, the price action kind of similar to the rest.
12:25
[SPEAKER_08]: Just bouncing around there on the trend.
12:27
[SPEAKER_01]: Yeah, it's interesting, Solana's.
12:29
[SPEAKER_01]: I would say like a middle of the boat kind of play.
12:33
[SPEAKER_01]: It's not doing, it's not underperforming, but it's not overperforming.
12:38
[SPEAKER_01]: It's not sinking in the new lows, but it's also not pushing up in the new highs.
12:42
[SPEAKER_01]: So it's not in the worst spot, but it's not in the best spot.
12:45
[SPEAKER_01]: It's kind of just floating around and holding value, which I don't think you can be too upset with, right, because it's not depreciating.
12:53
[SPEAKER_01]: But I think,
12:54
[SPEAKER_01]: Again, it's not appreciating as much as Bitcoin and Ethereum are off of their respective blows, or some of these other altcoins are seeing off of their rises.
13:03
[SPEAKER_01]: So, Ethereum sitting pretty neutral, you have just seen it bounce back and forth here for a while from around 77 bucks on the low end, and maybe around 90 something bucks on the high end, and it's gone just back and forth inside of this so many different times.
13:18
[SPEAKER_01]: And it continues to consolidate.
13:21
[SPEAKER_01]: I mean, it tried to make a break over 90 last week.
13:24
[SPEAKER_01]: It was not able to do that.
13:25
[SPEAKER_01]: It's coming back in.
13:28
[SPEAKER_01]: You know, eventually, I think pressure squeezes.
13:31
[SPEAKER_01]: And eventually, I think you get a big old squeeze in this thing, and you probably get a pretty large move out of it.
13:37
[SPEAKER_01]: But it's really starting to just
13:41
[SPEAKER_01]: you know really kind of consolidate.
13:43
[SPEAKER_01]: You have to think that the bearish volume looks as if it's falling off.
13:46
[SPEAKER_01]: I mean, I'm looking at it from the MACD.
13:48
[SPEAKER_01]: This is a clear lower swing high, even looking at what we're seeing over in here.
13:51
[SPEAKER_01]: A lot of the selling pressure looks like it's drying up.
13:55
[SPEAKER_01]: He can see the same thing on the relative strength index.
13:58
[SPEAKER_01]: Um, basically since what February, this thing has been seeing higher levels of strength.
14:04
[SPEAKER_01]: So maybe we do need one more big downward smooth, I say big maybe one more like not not big, but maybe one more flush, but it looks as if a lot of the selling pressure is is drying up from what I see now that can change right we can always have one more move down.
14:25
[SPEAKER_01]: I just would not write that off.
14:27
[SPEAKER_01]: of the table at this point, but a lot of the big selling pressure and big liquidation events that we've seen over the past six months just aren't happening anymore, you know, we're not having these big multi-billion dollar liquidation days that we saw since October 10, you know, we saw a lot of those from October to around January, even February, but since the start or so of February, you really haven't seen a lot of those for the past two to three months.
14:56
[SPEAKER_01]: And so again, I think the bears are for the most part behind us, maybe there's a little bit more than come out from the bear side.
15:07
[SPEAKER_01]: Again, I wouldn't rule it out, but we're at an interesting point where I think there's not as much buying pressure as we would want, but there's also not as much selling pressure as we had.
15:19
[SPEAKER_01]: So maybe that's the unstoppable force meets the movable object.
15:23
[SPEAKER_01]: But we're at this, it's a pretty interesting spot right now, so a little bit of a weird one.
15:27
[SPEAKER_08]: Yeah, and I think the kind of the news flow might back up that kind of price action.
15:32
[SPEAKER_08]: Because again, as we cover on this show and are going to do today, there's so much bullish fundamentals with these institutions piling in clarity, act kind of seems, at least from the polymarket odds and what we've covered, we have a little bit of a conversation about that later in the show as well, seems to be moving toward some type of resolution that might get approved.
15:51
[SPEAKER_08]: So the bears are kind of like, well, you know, do we how off sides can we get caught with
15:57
[SPEAKER_08]: But although, you know, the the charts don't lie, right?
16:01
[SPEAKER_08]: The charts, the market doesn't lie.
16:03
[SPEAKER_08]: And we haven't been ripping to the upside as well.
16:06
[SPEAKER_08]: So kind of in a holding pattern.
16:08
[SPEAKER_08]: But again, the big big dogs on the street do they keep buying and sailor buying yesterday on 420, happy 420 to those who celebrate $2.5 billion in Bitcoin this week.
16:22
[SPEAKER_08]: He's getting some big buys at these levels, which is,
16:25
[SPEAKER_08]: which is interesting.
16:26
[SPEAKER_08]: I remember you know, definitely in the 100,000s.
16:28
[SPEAKER_08]: They're out.
16:28
[SPEAKER_08]: They're always buying basically every week.
16:30
[SPEAKER_08]: We kind of started to notice the at least the the amount was a little bit lower in the hundreds and 120s an hour in the 70s and he's he's pulling the trigger.
16:40
[SPEAKER_08]: You know, $2.5 billion this week, fascinating.
16:43
[SPEAKER_08]: And then Tom Lee continues to buy as Bitmind inches towards the alchemy of 5% as they call it.
16:50
[SPEAKER_08]: I believe they're in fours.
16:51
[SPEAKER_08]: They're four point, you know, two, maybe at this point, 4.1% as they look to get to 5% of the total East supply, they buy 235 million and then just something that we haven't been pounding the streets on as much recently, but I think it's worth bringing up.
17:07
[SPEAKER_08]: little fear of green index back in the neutral again we were in extreme fear if you scrolled down here for for quite a while you know two two two all the way to three two exactly a month in extreme fear and then kind of crawled out of that into fear and now we're into neutral so we're we're taking a note yeah go ahead
17:30
[SPEAKER_01]: I think this kind of aligns with what we were saying just a couple of minutes ago where we're in this weird state where we're not overextended to the upside, but we're also not overextended to the downside anymore.
17:41
[SPEAKER_01]: We're kind of in this this happy medium spot.
17:45
[SPEAKER_01]: At least in like the short term, I think you could say long term, we're probably overextended to the downside.
17:49
[SPEAKER_01]: But in terms of where we're at right now on a shorter, more zoomed in picture, we are in a bit more of a
17:59
[SPEAKER_01]: And so now I think you have investors asking themselves, hey, we did rally what's next?
18:05
[SPEAKER_01]: And whereas people were extremely aggressive and buying in the 60s, and maybe even the low 70s.
18:13
[SPEAKER_01]: I think now that it's it's risen some and you kind of see this fair and great index reset.
18:18
[SPEAKER_01]: Again, I think it kind of just agrees with what we've said where or at this weird stage of neutral, but despite this again, the the crazy thing is that the news continues to be so optimistic and I think that it's it's a bit tragic truly because
18:34
[SPEAKER_01]: People are so concerned with whether the clarity act is going to get passed to some of these other catalysts happen that they are ignoring every other major headline and it's just positive after positive and they're huge catalysts they really are you know yeah you got some great ones on the screen here but people are looking right past them and it's because they're focused on other things which again the news itself here is wildly positive for the long term.
19:01
[SPEAKER_08]: Yeah, again, we're just clicking through a couple of the headlines, it's
19:05
[SPEAKER_08]: New York Stock Exchange did placing bets on digital assets to 133-year-old Wall Street institution getting into digital assets.
19:12
[SPEAKER_08]: Charles Swab launches direct Bitcoin ether trading to compete with Robin Hood.
19:17
[SPEAKER_08]: They launched it internally and they're rolling it out to their customers as well.
19:22
[SPEAKER_08]: We have a clip coming up with Charles Swab.
19:25
[SPEAKER_08]: Let's see Morgan Stanley as we've covered.
19:27
[SPEAKER_08]: The cheapest Bitcoin ETF yet.
19:29
[SPEAKER_08]: We have some stats on that.
19:31
[SPEAKER_08]: as Morgan Stanley's BTF, sorry, Bitcoin ETF has been trading for nine days, we have some stats on their inflows, it's been really positive, Goldman's Bitcoin ETF pushes signal the Wall Street, taming of crypto, fair statement at least of now because the volatility's been quite down, but I think it's, but before we dive in here, this is our zoom out segment to build
19:59
[SPEAKER_08]: at least are perspective from a content perspective to the the the feelings of the crypto community on x like the the vibes are down which is understandable with the price action but it feels but it feels like you can make a strong case of you know this bear market kind of came out of a nowhere i think for for most of the space as most bear markets do and then you have a couple extra black swans and and you throw in the towel
20:25
[SPEAKER_08]: Uh, if it feels like we're building towards something where the next violent leg up happens, you know, and whether it's tomorrow six months from now or year from now, whenever this next bull market kicks off and, you know, we go back to all-time highs, sad to say it feels like a lot of retail might be left behind.
20:44
[SPEAKER_08]: I think you could, I saw some, you know, interesting opinions on that on that, and I don't
20:50
[SPEAKER_08]: You know, we don't want that to happen, obviously, and it's not personal financial advice.
20:53
[SPEAKER_08]: You got to do your research and make your own decisions, but it makes a lot of sense that it's the where you're down, where you out, bore you out, and then, you know, you forget about it, and then all of a sudden, you know, it's back to, you know, all time highs and there's winners and there's losers, but, you know, it's retail going to be left behind is an interesting question for this next cycle.
21:15
[SPEAKER_08]: What do you think of that?
21:17
[SPEAKER_01]: It's, you know, it's a possibility for sure.
21:20
[SPEAKER_01]: I think it's hard to say, right?
21:23
[SPEAKER_01]: It's clear that the institutions want to get in on this.
21:26
[SPEAKER_01]: And so I think that the more that they get in on this, they would push this towards retail.
21:32
[SPEAKER_01]: Ideally, you probably want to retail to be in before the institutions, because then if the institutions get in first and then retail gets in later, it allows the institutions to take profits into the retail buyers, instead of the other way around.
21:47
[SPEAKER_01]: It's our if you look at it in another way to see you would say that hey, institutions need to be in this first to build.
21:54
[SPEAKER_01]: So that they can provide the liquidity infrastructure for the retail people to come in afterwards.
21:59
[SPEAKER_01]: So.
22:01
[SPEAKER_01]: It's hard to say, I mean, these headlines are good though.
22:03
[SPEAKER_01]: You've a really good post on the screen right now, just showing all of the different institutional players from Schwab, Goldbitt, Sachs, Morgan Stanley, New York Stock Exchange, like all of Wall Street who wants to use and get in on this stuff.
22:17
[SPEAKER_01]: And it's not going anywhere from their lens.
22:21
[SPEAKER_01]: I think it's just the perception of the current state that's throwing people for a little bit of a spin.
22:28
[SPEAKER_08]: Yeah, make sense.
22:29
[SPEAKER_08]: Well, it's dive right into the institutions that keep building Charles Schwab is up first.
22:34
[SPEAKER_08]: Again, they're announcing their platform that's going to roll out Bitcoin and Ethereum trading.
22:39
[SPEAKER_08]: I believe it is live for their employees and then it's going to customers in the coming weeks.
22:44
[SPEAKER_08]: So let's listen to Charles Schwab CEO for about a minute here.
22:50
[SPEAKER_03]: But we rolled it out to employees to test it in pilot and our employees are loving the experience and actively trading on our on Schwab.com today with with crypto and we'll launch it out we'll launch it to clients and coming weeks couldn't be more excited about that in terms of the target client I think it's existing clients at Schwab that want to hold crypto they're already active and crypto through exchange trade and products today and then want to hold spot crypto
23:15
[SPEAKER_03]: We also are excited about the fact that many of our clients have built peripheral positions outside the firm and they've been asking to be able to hold it at Schwab at the institution they trust and the institution where they keep the rest of their assets.
23:28
[SPEAKER_03]: And so to have their financial life in one place is attracted to them and we can't wait to make that happen when we open it to them in the coming weeks.
23:37
[SPEAKER_08]: So a great point there of like, you know, their customers have openly said to them, like, hey, I have some crypto positions and I really would like to manage it on one platform, which is definitely a point of kind of competition, I think, for the Josh Lobs, the Robin Hoods, the Black Rock, Morgan Stanleys, right?
23:54
[SPEAKER_08]: Like, they want to bring all their customers on to one platform and crypto over the years has made enough noise and has gotten enough market share.
24:02
[SPEAKER_08]: for them to wake up and not only to start offering products, but to want to recruit everybody on to their platform with the offering, so that's a Charles Schwab, and then let's just listen to one more clip, Brendan, and then we kind of just continue broadening out the discussion.
24:18
[SPEAKER_08]: This is BlackRock.
24:19
[SPEAKER_08]: So BlackRock's Jay Jacob tells Fox business about how Bitcoin can improve people's portfolio, so BlackRock continuously on the marketing chain for Bitcoin.
24:29
[SPEAKER_05]: That's it.
24:29
[SPEAKER_05]: BlackRock, Jade, Jake, that's okay.
24:31
[SPEAKER_05]: First, establish your long term view of crypto.
24:33
[SPEAKER_02]: Well, Bitcoin in particular is this non, you know, non-sovereign global decentralized asset that can really provide value to people's portfolios and small doses as a unique asset.
24:44
[SPEAKER_02]: Sort of like how gold doesn't behave like stocks or bonds Bitcoin is driven by its own rules and its own drivers predominantly, which is greater geopolitical or inflation risk and frankly, we live in a world where these are prevalent risks around the economy where people want to hedge that with different assets.
24:59
[SPEAKER_05]: Isn't it interesting, it used to be fringe and now.
25:02
[SPEAKER_05]: Thanks very much in part to Larry think your boss and I share is coming out with the I bit uh this is more than two years ago now that it really became this opportunity for people to understand it.
25:14
[SPEAKER_05]: Are you saying now that Bitcoin and crypto are a long term investments?
25:19
[SPEAKER_02]: I think you have to look at it through long-term lens because it's volatile because we see over weeks, months that can be up and down, people are still trying to figure out what the value of this asset is, but if you zoom out and take a long-term view of the role you can play in a portfolio, you can really be one of those diversifiers that behaves unique from stocks and bonds.
25:36
[SPEAKER_05]: When somebody who is Bitcoin curious comes out and says to you, Jay, what is the value?
25:41
[SPEAKER_05]: One minute in October, it's 126,000 today, it's 76,000.
25:46
[SPEAKER_02]: You have to look at it in the context of a broader portfolio.
25:49
[SPEAKER_02]: We can't put a specific price target on it on a given moment.
25:52
[SPEAKER_02]: It really has to be with how much to people need this asset that can behave uniquely, that can be a geopolitical hedge.
25:58
[SPEAKER_02]: That's constantly changing around the world.
26:00
[SPEAKER_02]: When you see more currency to basement, when you see rising government, that's when you see that more people want to move assets across borders, that's going to increase the value of something like Bitcoin.
26:10
[SPEAKER_02]: And so in this world, we see that as a structural trend that's growing.
26:14
[SPEAKER_02]: But then, by minute, that demand that's a wise energy.
26:16
[SPEAKER_08]: again these are the talking points that now these money managers are sitting down with the grandparents of the world the parents of the world the people that five ten years ago well ten years ago these people Those clients didn't even know what Bitcoin was five years ago was fraud and and all that stuff was the talking points, so it is it is
26:35
[SPEAKER_08]: funny how that it's changed, right?
26:37
[SPEAKER_08]: It's changed a tune.
26:37
[SPEAKER_08]: These institutions are here and these are their talking points.
26:41
[SPEAKER_08]: This is marketing for them.
26:42
[SPEAKER_08]: This is how they have their products.
26:44
[SPEAKER_08]: Now the products are built, the products are live.
26:46
[SPEAKER_08]: Now they have to sell the products.
26:48
[SPEAKER_08]: That's how this works.
26:50
[SPEAKER_08]: It is, you know, a little bit funny, but it's the famous Matthew McConaughey scene from Wolf of Wall Street when he's
26:56
[SPEAKER_08]: You know, introducing Jordan Belfort to the, to the, the, the gig or the job at lunch of a trade, it's like, you take their money here, you get them a big winner and you tell them, oh, it's doubled, you know, and then you, they're so excited, but you don't let them take the money, you got to take that money and give them a new product and move it over there.
27:12
[SPEAKER_08]: Uh, so it's, you know, again, that's a funny clip from a movie, but that's how it works.
27:17
[SPEAKER_08]: You know, these, these, these companies are going to spend hundreds of millions of dollars building and marketing these products to not get assets into that.
27:24
[SPEAKER_01]: Yeah, and going back to what Schwab was saying, like they literally had people coming to them and being like, we have money elsewhere because you all won't do this.
27:35
[SPEAKER_01]: And to them, that's the worst thing you could hear as an asset manager is you guys don't have what I want or what I need.
27:42
[SPEAKER_01]: So I have to take my money elsewhere.
27:44
[SPEAKER_01]: For them, that's a no brainer saying, hey, we're losing market share.
27:48
[SPEAKER_01]: Our client base is telling us that they wanna use us, but we're not making the changes that they are asking for.
27:54
[SPEAKER_01]: So fast forward, I think it's pressured a lot of these different asset managers and even banks to want to get into this stuff and now you have it's it's funny I still have conversations with people who are like guys no one really like supports crypto like no one's really using this stuff and it's like you just had to trillion multi trillion dollar asset managers and we talked about you know other banks that are in the same boat.
28:20
[SPEAKER_01]: literally on public TV talking as good as they positively can about it and how much they see the need for it and how there's demand for it and I mean it's clear and for whatever reason people still like to overthink it.
28:34
[SPEAKER_01]: They still like to overthink it and overcomplicate it and it's like guys listening to what they are saying.
28:39
[SPEAKER_01]: It is the largest financial companies
28:41
[SPEAKER_01]: on the planet.
28:42
[SPEAKER_01]: The absolute leaders, the pinnacles of financials, and this is what they are saying, and it's because there's demand.
28:49
[SPEAKER_01]: They would not be putting their reputation and their brand and their resources and time and effort and money and all these things behind this.
28:57
[SPEAKER_01]: If there was not a, if they didn't view it as long-term and they didn't see the the pill do it, but b, if there wasn't demand in it.
29:04
[SPEAKER_01]: So I think that that's just where we're at,
29:09
[SPEAKER_01]: And eventually, I think that there will be a bit of a disparity between what's happening in terms of the fundamentals and the adoption and what happens with price.
29:17
[SPEAKER_01]: Now, when does that happen?
29:19
[SPEAKER_01]: You know what to stay tuned, but I think eventually we will get to a point where the difference in the disconnect between those two's is too vast to be ignored anymore.
29:29
[SPEAKER_08]: couldn't agree more and we'll take a little halftime break here as we're halfway through the rundown just want to thank everybody for joining on the live we have and yandies from Liverpool anybody else that's joining us on the live let us know what your name where you're from we appreciate you if you're new here bottom right you'll see the logo uh... hit subscribe and if you could give us a thumbs up and it really helps the channel grow and then if you enjoyed Brendan's technical analysis as we say when the next cohort opens will let you know
29:53
[SPEAKER_08]: of you want you know technical analysis with Brendan live two hours a week you can ask him questions do it with him and then obviously get a full six week course to learn the ins and outs of technical analysis check the description I put a link there you can sign up for the alert when that cohort opens up.
30:10
[SPEAKER_08]: As we move on, Morgan Stanley has a public Bitcoin address, which is always fun to keep track of.
30:17
[SPEAKER_08]: So we check it out that and we have over $139 million worth of Bitcoin after only nine days of trading.
30:25
[SPEAKER_08]: So super cool to be able to track that for the newest and cheapest ETF.
30:30
[SPEAKER_08]: What do you think, Brendan?
30:32
[SPEAKER_01]: Yeah, I think they did this in like a week or so.
30:35
[SPEAKER_01]: They were able to do this.
30:37
[SPEAKER_01]: So money is pouring.
30:38
[SPEAKER_01]: Again, this goes back to what we were just, yeah, there it is, nine days of trading.
30:42
[SPEAKER_01]: And they were able to bring an 139 million dollars worth.
30:46
[SPEAKER_01]: Under, I would say, or mediocre market conditions, you know, we're not in this raging bull market, this stage of euphoria.
30:54
[SPEAKER_01]: You know, we're at what just was, you don't like yearly multi-year lows.
31:00
[SPEAKER_01]: And they open this thing up and they instantly get almost $140 million in what a week and a half.
31:06
[SPEAKER_01]: So,
31:08
[SPEAKER_01]: Again, it's wild stuff.
31:11
[SPEAKER_01]: And I'm glad to see it.
31:13
[SPEAKER_01]: A lot of these groups that were delaying it and pushing it off, or they didn't agree with it, they're all coming around to this point.
31:20
[SPEAKER_01]: And they're benefiting off of it.
31:21
[SPEAKER_01]: I mean, that's quite a large amount of capital to come in in a week and a half during a pretty ill period of the market.
31:28
[SPEAKER_08]: great points and some other new news in the finance world I was actually watching this before we went live is Kevin Worsh had his first Senate information hearing a new fed chair confirmation hearing I think this is going to get drawn out a little bit for everything I've seen but nonetheless we're going to cover it all the way obviously Senator Warren was in there trying to grow them and then the Republicans were pushing them through.
31:55
[SPEAKER_08]: Funny enough, I got to figure out how this happens.
32:00
[SPEAKER_08]: Larry Fitzgerald, famous Hall of Famer, Wide Receiver from the Aaron Silver Cardinals, was sitting right behind Kevin Worses.
32:07
[SPEAKER_08]: I need to find that out.
32:09
[SPEAKER_08]: The Senate hearing was...
32:13
[SPEAKER_08]: live right before we went on the show so later this week when we do one with Brian I'm going to try and get some clips from that weekend check it out and I'm I'm going to try and figure out why Larry Fitzgerald was there I thought I thought I was seeing things I'm like is that Larry Fitzgerald literally right next to Kevin Worst right next to his wife but we bring this up now as Kevin Worst loves crypto I mean his balance sheet very successful
32:35
[SPEAKER_08]: professional life.
32:36
[SPEAKER_08]: Very successful investor.
32:38
[SPEAKER_08]: That's what, you know, especially the, the opposing side of of people that might not want him as Fed chair for his relationship with the president, they're going to be bringing up his balance, his own personal balance sheet of how many assets he has.
32:50
[SPEAKER_08]: And my God, does he have a lot of assets over 30 plus crypto projects here, Brendan, DUIDX, creator-dow.
32:59
[SPEAKER_08]: I think I saw Salon on here optimism.
33:02
[SPEAKER_08]: He's got a polymarket and my God, good for him.
33:05
[SPEAKER_08]: Just tons of ones, a lot of ones we've had on the show, a lot of ones we've talked about, and some ones that we haven't talked about.
33:11
[SPEAKER_08]: So he's deep.
33:13
[SPEAKER_08]: He's deep in the crypto water here.
33:15
[SPEAKER_08]: What do you think?
33:17
[SPEAKER_01]: I like it.
33:18
[SPEAKER_01]: You know, it can't hurt to have the potentially new Federal Reserve Chairman owning a bunch of crypto.
33:26
[SPEAKER_01]: being involved with it.
33:27
[SPEAKER_01]: I mean, I think it's just another positive, right?
33:29
[SPEAKER_01]: It's another person that holds significant power.
33:32
[SPEAKER_01]: I mean, depending on who you ask, they would say the Federal Reserve Chairman is arguably one of the most powerful people on the planet.
33:42
[SPEAKER_01]: And so for that, there'd be a big crit vote out of it.
33:46
[SPEAKER_01]: Can't be a bad thing at the end of the day.
33:49
[SPEAKER_08]: Yeah, some of these are very interesting friends with Ben, I got, I got, we got to bring our Brian and Joe and break down some of these on NFT projects, deep.
33:57
[SPEAKER_01]: I was going to say my only question here is, what is friends with benefits?
34:03
[SPEAKER_01]: Can we talk about that?
34:05
[SPEAKER_01]: Yeah, I mean, I don't know.
34:06
[SPEAKER_01]: That's the name on there.
34:07
[SPEAKER_08]: Yeah, web three community social token.
34:10
[SPEAKER_08]: Let's do a quick Google friends with Ben, if it's
34:18
[SPEAKER_08]: uh... friends with benefits is a prominent token gated down and digital city bringing together web three creators and thinkers acting as a crypto native social club built on a theorem uses the fwb token to manage access to a private discord local events and virtual experiences
34:35
[SPEAKER_08]: Uh, yeah, I don't know.
34:37
[SPEAKER_08]: We'll have to, well, we'll, we'll, we'll, again, we'll put a pigeonhole or a pin in that sorry, pigeonhole pin in that.
34:42
[SPEAKER_08]: We'll, we'll talk to Brian on Thursday.
34:45
[SPEAKER_08]: It'll be a fun one.
34:45
[SPEAKER_08]: And I, and I promise to gather some clips because in the opening statement of what they were going to cover in the hearing was crypto.
34:52
[SPEAKER_08]: Crypto was brought up.
34:54
[SPEAKER_08]: This was brought up as balance sheet, but also, you know, with the administration moving towards and, you know, clarity acting all that.
35:00
[SPEAKER_08]: It was a top and good discussion, but had to turn it off because we had to go live and bring our show to you.
35:07
[SPEAKER_08]: Staying in the political realm as we go down the sheet here, Clarity Act had done deal question mark.
35:13
[SPEAKER_08]: Banks are upset with Coinbase because they're forced to accept the Clarity Act.
35:17
[SPEAKER_08]: An interesting headline, which is why I grabbed the video and wanted to play it for us, because as we remember, the first kind of
35:24
[SPEAKER_08]: addition of the Clarity Act Brian Armstrong was very vocal he didn't like it uh... and then there was meetings at you know a cap in dc uh... i think you got some calls from the administration as well and now now it's the flip side now the banks are upset was that was a headline that i saw so it's listen and we can uh... again break it down the back in
35:43
[SPEAKER_06]: I can understand the banks being upset with cornways and other companies because they were forced to accept this, I think.
35:50
[SPEAKER_07]: I mean, initially, many of the banks are saying, well, no, we're going to get there, but we're not there yet.
35:55
[SPEAKER_04]: Yeah, look, I mean, really interestingly, we have actually partnership with some of the biggest banks around the world, including the biggest US banks, because they understand the future as tokenization and stablecoins.
36:06
[SPEAKER_04]: They're looking for a partner to build with.
36:08
[SPEAKER_04]: We're excited to be the partner of the biggest banks.
36:11
[SPEAKER_04]: about ways of funding plays Maria's you know there's a kind of an ecosystem of people who spent all their time fighting over things in Congress.
36:19
[SPEAKER_04]: I wouldn't, there's a bit of a disconnect with what we see in DC and what we see with their business folks.
36:24
[SPEAKER_04]: I think we'll be able to resolve that.
36:26
[SPEAKER_04]: The banks are critical as a part of this future on-chain future.
36:30
[SPEAKER_04]: I think there's a lot of opportunities for them.
36:32
[SPEAKER_04]: We want to help them get there and I think we're excited about that.
36:34
[SPEAKER_07]: So right now, you can pay the legislation as you know it will be that, yeah, you can pay rewards if you're part of a membership program real quick.
36:43
[SPEAKER_07]: Explain where you're expecting clarity to land.
36:47
[SPEAKER_04]: So the law of the land is if a customer has a balance on our account, we can pay them a reward.
36:51
[SPEAKER_04]: The banks have got really concerned about this.
36:53
[SPEAKER_04]: They said, no, no, there has to be some activity before you qualify for the reward.
36:58
[SPEAKER_04]: We've, we've conceded that point.
37:00
[SPEAKER_04]: It's just a matter of how you, but the fine print looks like and I think
37:04
[SPEAKER_08]: I love that quote, the belt way is a funny place to the belt way is the highway that goes through DC.
37:09
[SPEAKER_08]: So the belt way is a funny place, um, reward, it seems like rewards are coming.
37:14
[SPEAKER_08]: It's just that fine print, which again, we want to see and we want to break down with you, but it's not, it is not quite known yet.
37:22
[SPEAKER_01]: we've seen so much pressure from the current administration, different people inside of it, really putting pressure on this.
37:30
[SPEAKER_01]: As of lately, we have seen tweets come out, you know, whether you're looking at Scott Besin or Trump himself or other people that are inside the financial space, really voicing their frustration here.
37:41
[SPEAKER_01]: It feels as if the banks are
37:47
[SPEAKER_01]: very, I want to say demanding, maybe that's not the right way to phrase it, but they want what they want, right?
37:52
[SPEAKER_01]: They're used to being these financial behemoths and giants and they're saying it's going to be our way or the highway.
37:58
[SPEAKER_01]: It looks as if they're getting a lot of pushback on that narrative.
38:02
[SPEAKER_01]: And again, my thing is I think just going to have to be given take from both sides from this centralized financial side.
38:09
[SPEAKER_01]: from the decentralized financial side, so you know, tradifying crypto, both are going to have to give and take some here.
38:14
[SPEAKER_01]: And that's what it sounded like in that clip, as they said, hey, we can see it on this.
38:19
[SPEAKER_01]: They're going to be okay with that.
38:20
[SPEAKER_01]: And all they need to do is come to the middle here.
38:22
[SPEAKER_01]: So I don't think either side is going to get everything that they want.
38:25
[SPEAKER_01]: And I think that they're both probably starting to finally realize that.
38:29
[SPEAKER_01]: And there's going to be some given take in both directions.
38:33
[SPEAKER_01]: And then I think that once that gets cleared up, which it sounds like it's,
38:38
[SPEAKER_01]: will be in a good spot.
38:40
[SPEAKER_01]: I do think that there is probably there needs to be a push for this.
38:47
[SPEAKER_01]: My fear is that if we don't start to get this done by the summer or fall, my fear is that it really falls to the back burner after that, right?
38:56
[SPEAKER_01]: Because then you start having mid-terms or having new people come into political office, other people go out, you know, agendas make change,
39:04
[SPEAKER_01]: Priorities can change and I also think that there's still right now a lot of pressure in demand to get this out You just want I think that we need to see this by like the summer of the fall in the next several months.
39:15
[SPEAKER_00]: Otherwise I feel like it could fade Deeper into the background We shall see it seems as if it's still a decent priority because we're seeing it talked about a lot
39:30
[SPEAKER_01]: I'm ready.
39:30
[SPEAKER_01]: Maybe I'm just voicing my frustration.
39:32
[SPEAKER_01]: I want to see this thing pass, man.
39:34
[SPEAKER_01]: I mean, we've been hearing about it for so long.
39:36
[SPEAKER_01]: Like, let's just get this thing done.
39:39
[SPEAKER_08]: Yeah, and then as we know, there's a wild stuff that's been just going on and going on.
39:44
[SPEAKER_01]: Yeah.
39:44
[SPEAKER_08]: It's definitely taking a back seat.
39:47
[SPEAKER_08]: But something that was pretty big over the weekend, a little sad little negative.
39:51
[SPEAKER_08]: There was a big exploit and a lot of money, you know, basically taking advantage of here.
39:57
[SPEAKER_08]: So I wanted to hand that off to you to kind of explain what went on over the weekend.
40:02
[SPEAKER_01]: Yeah, this was, uh, it was Narlik because crypto was actually breaking out.
40:06
[SPEAKER_01]: I wanted to, I forgot to say this at the top of the episode, but crypto was breaking out.
40:12
[SPEAKER_01]: I mean, crypto looked like it was ready to go for a run, like a whole ripening to the upside.
40:18
[SPEAKER_01]: And it was getting ready to do this.
40:20
[SPEAKER_01]: And then as we were breaking out, um, there was an avae exploit.
40:26
[SPEAKER_01]: Now, I want to clarify here, because everyone's thinking, oh, it's avae got hacked in this and that.
40:30
[SPEAKER_01]: not quite.
40:32
[SPEAKER_01]: What happened here were these hackers or, you know, this group exploited something called KelpDow for around $290 million worth of the RSE tokens.
40:45
[SPEAKER_01]: So RSE, ETH tokens.
40:48
[SPEAKER_01]: So they were able to exploit and essentially copy these fake versions of these, you know,
40:53
[SPEAKER_01]: RS-Eth tokens, $290 million worth.
40:57
[SPEAKER_01]: So what they did with these fraudulent tokens is that they deposited them on to Avay where you can do borrowing and lending.
41:04
[SPEAKER_01]: They borrowed against these fake tokens borrowed and received real, I think it was a theorem and exchange or a real stable coin or whatever it was and exchange, but they got real tokens and exchange for their fake ones, and then they ran off
41:23
[SPEAKER_01]: making away with all this money.
41:25
[SPEAKER_01]: So what this does is, again, the exploiters basically exploited $290 million worth of RSE from kelp dow.
41:34
[SPEAKER_01]: The posited those exploited tokens on to Awe.
41:39
[SPEAKER_01]: Obviously, okay, thank you for your deposit.
41:42
[SPEAKER_01]: and your collateral, here's like Ethereum or whatever it was in exchange, and then they ran off.
41:47
[SPEAKER_01]: So they gave them the fake tokens, they ran off with the real tokens, and now there is this empty loan, this hole in Awe, where they A allowed this to happen, which is really what people are upset about, and then B, you know, now they have this hole of almost $300 million that they're just dry out of luck on.
42:10
[SPEAKER_01]: So, Avay ended up falling like something like 30 percent from the time that this happened off those weekend highs and fell back in and it spooked the whole crypto market because we haven't seen something like this happen in a little bit of time, not an exploit like this.
42:26
[SPEAKER_01]: And Avay has been
42:28
[SPEAKER_01]: Pretty well established, right?
42:29
[SPEAKER_01]: They've had a good reputation.
42:31
[SPEAKER_01]: They haven't had a lot of things like this happen.
42:33
[SPEAKER_01]: They're large, they're kind of a leader in the lending and borrowing space and a leader in a rural defy.
42:41
[SPEAKER_01]: So it's not a good look to have an established name that's been around for a while that's pretty trusted to have something like this happen.
42:47
[SPEAKER_01]: Now again, is it originally obvious fault that they get hacked?
42:51
[SPEAKER_01]: No, but they allowed someone to exploit somewhere else
42:57
[SPEAKER_01]: And that's what spooked the whole crypto space again.
43:00
[SPEAKER_01]: So I think that's why we're seeing a little bit less of the performance that we wanted to see earlier and we're talking about hey assets are flowing into risk again, but not as much in the crypto.
43:09
[SPEAKER_01]: I think it's a largely due to this.
43:11
[SPEAKER_01]: I'm obviously allowed to happen and now all of crypto is.
43:16
[SPEAKER_01]: or all of the kind of crypto side of things are a little bit more spooked because this happens.
43:21
[SPEAKER_01]: And this happens like every time.
43:22
[SPEAKER_01]: Every time you see something like this, it spooks the whole industry.
43:25
[SPEAKER_01]: It causes people to not necessarily want to throw in their money as they're seeing the stuff happen.
43:29
[SPEAKER_01]: As time goes on, trust is restored and the protocols that are strong remain.
43:34
[SPEAKER_01]: But it's a pretty nasty hit to Avay.
43:40
[SPEAKER_01]: We'll have to see what the resolution looks like and how this is going to get solved.
43:44
[SPEAKER_01]: Yeah, now they just have this hole.
43:48
[SPEAKER_08]: It's a great breakdown.
43:51
[SPEAKER_08]: Yeah, it's just one of those ones.
43:53
[SPEAKER_08]: It just feels like there's been a lot a couple of these right recently.
43:56
[SPEAKER_08]: Just a lot of exploits and you hate to see it, but also I think Spinzone with all these exploits.
44:03
[SPEAKER_08]: The market's held up and even even risen with the and you add in the iron war there.
44:09
[SPEAKER_08]: It's like Where are the bears?
44:11
[SPEAKER_08]: Where are the sellers kind of to that point of the top of the show?
44:13
[SPEAKER_08]: It's an interesting combo.
44:15
[SPEAKER_08]: We've got C.C.
44:17
[SPEAKER_08]: here.
44:17
[SPEAKER_08]: We got Andy from Alabama, C.C.
44:19
[SPEAKER_08]: reporting live from Port Elizabeth South Africa.
44:22
[SPEAKER_08]: I just love how international we are.
44:24
[SPEAKER_08]: And then Trinity friend of the show, of course, saying that really interesting episode today.
44:29
[SPEAKER_08]: Locked in her attention.
44:30
[SPEAKER_08]: You loved to hear that.
44:31
[SPEAKER_08]: Thank you guys all for tuning in.
44:32
[SPEAKER_08]: Couple quick hitters to wrap up the show.
44:34
[SPEAKER_08]: Let's go back to positive Brendan Solana continues to hit another all-time high last week, handling more volume than
44:45
[SPEAKER_08]: So an interesting stat there is Solana continues to get usage and obviously selfless shameless plug for the interviews that you've done some great ones soul strategies with Max Kaplan if you didn't go back here that go back and then the
45:01
[SPEAKER_08]: uh... salon foundation one with Katherine just went live last week so definitely worth taking a look of what's going on in salana we saw uh... from uh... brennan's ta earlier again just kind of in a range but again the usage is up zoom out what do you think
45:17
[SPEAKER_01]: I mean, dude, tokenized equities and their spot trading volume.
45:21
[SPEAKER_01]: Soaring, I mean, it's huge and look at what they're doing here.
45:24
[SPEAKER_01]: It's parabolically up into the right.
45:29
[SPEAKER_01]: And then you look at price action and I don't think it properly is pricing this in.
45:35
[SPEAKER_01]: That's my stance.
45:35
[SPEAKER_01]: I got guys, you know, let it be known.
45:37
[SPEAKER_01]: I have exposure to Solana, I talked about that on the show.
45:40
[SPEAKER_01]: I have exposure to E2 and Bitcoin.
45:41
[SPEAKER_01]: I like them all.
45:44
[SPEAKER_01]: But I think that the market here is not properly pricing in the growth that we have seeing.
45:52
[SPEAKER_01]: If you look on this chart to where price was trading,
45:58
[SPEAKER_01]: When, excuse me, if you look at this chart for where we were at, when prices were previously at this point, for a, excuse me, for a, excuse me, for a salon, for instance, you know, we were trading at these levels of 86 bucks back in like December of 2023 and January of 2024.
46:16
[SPEAKER_01]: Look at the astronomical amount of increase in all these different sectors.
46:21
[SPEAKER_01]: This one's just showing tokenized equities in their spot trading volume, but there's so many other ones.
46:28
[SPEAKER_01]: just record levels of growth and activity, and that have increased from the last time that we were at this price.
46:35
[SPEAKER_01]: And again, I do not think it's properly being priced in yet, which is part of the reason why I'm so bullish on the long term.
46:45
[SPEAKER_08]: great points uh... and if you want to track salon obviously uh... the microprophone course uh... is the first place to go learn how to do it but uh... maybe you want like using trading view uh... but there might be a new place to track salon or there is a new place to track salon with x-cash tags
47:01
[SPEAKER_08]: I wanted to get your take on this brand and they're rolling out features for stocks and crypto and giving more information.
47:08
[SPEAKER_08]: They're giving charts.
47:10
[SPEAKER_08]: I wouldn't be shocked if this turns into obviously news, charts, price action, trading.
47:16
[SPEAKER_08]: No doubt they're going to be throwing in some TA capabilities.
47:21
[SPEAKER_08]: I'm sure and this feels like the first step for X, formerly known as Twitter,
47:29
[SPEAKER_08]: some type of stock and crypto trading because as we've covered on the show, we haven't talked about it for a while, but X was applying for all these trading license and bank license out of their LLC.
47:41
[SPEAKER_08]: So it feels like they're slowly moving into this direction and quietly have been working on stuff behind the scenes as they roll this out.
47:48
[SPEAKER_08]: So what do you think?
47:49
[SPEAKER_08]: You excited for this?
47:51
[SPEAKER_01]: I am.
47:51
[SPEAKER_01]: I think that there was pressure because Robinhoods was planning on rolling out Robinhood social.
47:58
[SPEAKER_01]: They could do basically exactly this.
48:01
[SPEAKER_01]: And I think X is trying to get ahead of it, which is smart, right?
48:06
[SPEAKER_01]: Really, really smart getting ahead of the whole Robinhood social thing.
48:11
[SPEAKER_01]: I'm interested to see how this will work.
48:13
[SPEAKER_01]: Are they going to do all of this trading and housing in South, like in-house?
48:17
[SPEAKER_01]: Like, are they going to become their own brokerage and asset manager?
48:20
[SPEAKER_01]: Or are they going to partner with different brokerages and asset managers to do this?
48:24
[SPEAKER_01]: My immediate thought is they could partner with, you know, what, black rock or coinbase or Robin Hood or whoever, fill in the blank.
48:32
[SPEAKER_01]: And that allows them to have the charts and then people can go through these,
48:37
[SPEAKER_01]: pay and they can get a partnership and he knows how that works on the back end.
48:43
[SPEAKER_01]: I like this, I think it makes sense.
48:44
[SPEAKER_01]: Elon's always said that he wants X to kind of be this all-in-one everything app.
48:50
[SPEAKER_01]: He continues to move on with that, right?
48:53
[SPEAKER_01]: You have shows that are being on X now.
48:55
[SPEAKER_01]: You have socials and businesses.
48:56
[SPEAKER_01]: I think it's only a matter of time before you're going to be able to buy things directly from X or store your assets from here.
49:03
[SPEAKER_01]: You can already message and use AI.
49:05
[SPEAKER_01]: And again, the list just goes on.
49:08
[SPEAKER_01]: I like this.
49:09
[SPEAKER_01]: I like this.
49:10
[SPEAKER_01]: A lot of the time, this makes sense to me because a lot of the time I'm on X. I mean, if you look at the news articles that we're going through today, 90% of the articles
49:20
[SPEAKER_01]: and
49:22
[SPEAKER_01]: We, I can speak for myself here.
49:24
[SPEAKER_01]: I'll see a headline sometimes and it'll be about something.
49:27
[SPEAKER_01]: And like, oh, I wonder how the news is responding to this news.
49:33
[SPEAKER_01]: I'd be so convenient.
49:35
[SPEAKER_01]: It does a headline about, you know, let's just say, we just said Robin, let's go to them again or Solana, right?
49:40
[SPEAKER_01]: There's a Solana headline, like, oh, that's big.
49:43
[SPEAKER_01]: How is Solana responding to this news?
49:45
[SPEAKER_01]: And you can just like click the cash tag and see what's happening.
49:51
[SPEAKER_01]: I say most of us, most of us on the analyst team, we have trading view up in all the time.
49:55
[SPEAKER_01]: I have three monitors, and trading view is at all points of the day on one of those.
50:00
[SPEAKER_01]: So I always have the charts up, but I think the average person is probably in a different boat.
50:05
[SPEAKER_01]: They have a life, they have other work to do, they have stuff going on, and they're probably on their phone or something.
50:11
[SPEAKER_01]: So if they're able to just kind of click the cash tag, see what's happening in response to the news,
50:16
[SPEAKER_01]: I think it's cool, man, I'll say this.
50:21
[SPEAKER_01]: I, and this is not at all a political thing, but I used to just not be a fan of Twitter.
50:26
[SPEAKER_01]: I used to like love Instagram and other socials and everything.
50:30
[SPEAKER_01]: I have to say, I have become quite the big fan of X, you know, formally Twitter now I've really been enjoying using it over the last several years and again, it's not at all because of political, whatever, it's just like I just genuinely think that it has become more appealing to someone like me who didn't maybe like the older iterations of Twitter,
50:57
[SPEAKER_01]: I like a lot of the changes.
50:59
[SPEAKER_01]: This makes sense.
51:00
[SPEAKER_01]: I know maybe it's more niche.
51:01
[SPEAKER_01]: It appeals to someone like me who's a finance bro, but I like this stuff.
51:06
[SPEAKER_01]: I think it makes sense.
51:08
[SPEAKER_08]: I think with the news flow of how people in just news so quickly to it's it's a it's the number one source for breaking news now you got a parse through it to see what's true and what's not but like it's the number one source you hear something you see a headline you dive into acting and then you do your own research and kind of finally okay what accounts to be trust how do we verify this are there any video clips
51:30
[SPEAKER_08]: It's a great way to search breaking news and kind of, yeah, again, you don't try to dive in too politically.
51:37
[SPEAKER_08]: But obviously when Elon took over, they tried to basically tank it and say, like, nobody's using it.
51:42
[SPEAKER_08]: They're all these false stats on like, you know, usage time was down and then they tried to hit him with the, the body count thing, but like, that was before he even took over.
51:51
[SPEAKER_08]: He was trying to clean that stuff up, which they still need to do a better job on still on a Twitter bots.
51:57
[SPEAKER_08]: But yeah, man, it's, it's been an interesting,
52:00
[SPEAKER_08]: a cycle life cycle for the new Twitter and I agree it's definitely one of my go-to's especially for news and finance and you're pointing on the robinhood social is interesting because it's a great idea it's like all these people us included give takes and you know obviously ours is more educational nature and not financial advice but there's a lot of people that you know claim these trades and don't track them and so the robinhood idea is a great way to say hey
52:30
[SPEAKER_08]: You know, X wants to do that and I really like your point on is there a partnership to bring this inside of a brokerage and like what negotiations could that be?
52:41
[SPEAKER_08]: I'm just I'm elaborating.
52:42
[SPEAKER_08]: There's no reports of this at all.
52:44
[SPEAKER_00]: Yes.
52:45
[SPEAKER_08]: Ewan's got some, you know, got some things to offer, you know, Tesla, you know, is basically slowing down their car production to go all in on robots, robotics.
52:55
[SPEAKER_08]: And then SpaceX IPO, every big finance institution wants to be the one to bring SpaceX to the public markets.
53:03
[SPEAKER_08]: So maybe that's a bargaining chip and saying, hey, I'm trying to roll out x finance who can help me, you know, do the back end here and then that's going to put you in the front
53:14
[SPEAKER_01]: to that point.
53:15
[SPEAKER_01]: I forget I forget who the second partner was.
53:18
[SPEAKER_01]: Maybe it was Merrill Lynch.
53:20
[SPEAKER_01]: But for the SpaceX IPO, they basically said, hey, Robinhood's going to be one of those.
53:25
[SPEAKER_01]: So you know that there's already some sort of a relationship there.
53:28
[SPEAKER_01]: I think you might have the fact check me or someone in the comments can fact check me.
53:32
[SPEAKER_01]: But when the SpaceX IPO got announced, they basically said, hey, we're going to partner with Robinhood.
53:38
[SPEAKER_01]: And I think it was Merrill Lynch, maybe one other person or another bank or something.
53:42
[SPEAKER_01]: He said we're going to partner with these two people to do the to do the IPO because
53:48
[SPEAKER_01]: I think they're offering something like 60% of the shares to the public where it's normally it's like a fraction of that.
53:55
[SPEAKER_08]: Right.
53:56
[SPEAKER_08]: I think it was, it wasn't, there was nobody, this is just a quick Google just to, it will overview it with a quick AI overview.
54:02
[SPEAKER_08]: It's like, he didn't announce anything specific with any specific brokerage, whether it's E trade, Robinhood, so far, he just said he wants a large distribution to go to retail and the public.
54:14
[SPEAKER_08]: So like you said, it's, he wants to do
54:16
[SPEAKER_08]: maybe a maybe a record breaking amount who knows.
54:19
[SPEAKER_08]: Definitely probably a record breaking amount for how big the company is to make sure that retail has some access.
54:24
[SPEAKER_08]: And so you'd go to those platforms, but nothing official has been said.
54:28
[SPEAKER_01]: Hmm, let's tear.
54:30
[SPEAKER_01]: Well, yeah, I guess time will tell.
54:35
[SPEAKER_01]: And we'll have to come back to that headlines.
54:37
[SPEAKER_01]: I remember reading a headline about this.
54:39
[SPEAKER_01]: And it was like, there was a handful of different brokerages that were mentioned as supporting or being chosen as support this.
54:48
[SPEAKER_01]: So we'll have to come back to it, because I don't want to miss speak, but...
54:53
[SPEAKER_01]: You know, it's wrong.
54:55
[SPEAKER_08]: Anyway, we're going to cover it.
54:56
[SPEAKER_08]: I mentioned it in the other shows is like, I know it's not crypto specific, but I think it's such a huge market event.
55:03
[SPEAKER_08]: It's going to be historic.
55:04
[SPEAKER_08]: And then you got to wonder about the liquidity.
55:06
[SPEAKER_08]: Like, is it a liquidity suck?
55:08
[SPEAKER_08]: Is it going to take liquidity from all the big dogs?
55:11
[SPEAKER_08]: The mag seven, the invidities of the Nvidia's of the world.
55:14
[SPEAKER_08]: Maybe the big coins, who knows?
55:15
[SPEAKER_08]: Like, I'm not saying I know, but there's going to be so much appetite for this thing.
55:19
[SPEAKER_08]: where's all this money going to come from so it's a history making events we're going to cover it um and then obviously there's all the different proxies uh via you know all you know there's crypto proxies as well that i don't know Brian and joe have kind of locked in on as well so something to cover uh last topic of the day something fun door dash for all those uh lunchtime here might maybe ordering via door dash door dash plan stable point payouts for merchants and drivers globally via tempo now i never heard of tempo
55:48
[SPEAKER_08]: No, I have not, but interesting, but a door dash, door dash, diving in on crypto.
55:55
[SPEAKER_08]: You love to see it.
55:56
[SPEAKER_01]: Tivo, I mean, if I can earn some more crypto here, you might see me in one of those, I was going to call it a door dash cab, but I guess it's just your own car.
56:08
[SPEAKER_01]: You know, I had never used really door dash before up until,
56:14
[SPEAKER_01]: of semi-recently because I always just thought it was like a waste of money and it made no sense for me to like not want to drive like five or ten minutes to the store.
56:23
[SPEAKER_01]: I guess it's different if you're in a big city, but I just never understood the appeal behind or not.
56:31
[SPEAKER_01]: Anyway, long story short, I got like a chase credit card and they're like oh you get free dash pass or whatever and you know I've used it sometimes and it's cool.
56:41
[SPEAKER_01]: Anyway this is a whole
56:44
[SPEAKER_01]: If you can earn crypto from this, I think it makes sense.
56:47
[SPEAKER_01]: This is going to be a little bit of a stretch here with me saying this.
56:50
[SPEAKER_01]: But I think people would do this to get a little bit more crypto and stablecoins.
56:54
[SPEAKER_01]: If you're going to tell someone, hey, you can go do this and you can earn stablecoins.
56:59
[SPEAKER_01]: I think there's going to be some people out there who don't really do it that often.
57:02
[SPEAKER_01]: They just do it occasionally as a sidekick.
57:04
[SPEAKER_01]: I think now, if people are saying, hey, you know, you can go get paid out and stablecoins.
57:11
[SPEAKER_01]: for doing this stuff, I think it makes sense.
57:14
[SPEAKER_01]: So I know it's for merchants and drivers and everything.
57:19
[SPEAKER_01]: But if I was a driver, trying to get a little bit of crypto on the side here, that kind of seems like it'd be the easiest gig as opposed to going somewhere else, getting paid out and dollars, putting the dollars into your bank account, going from your bank account to the exchange, and then buying what you want.
57:34
[SPEAKER_01]: You can go dash pass for a few hours, earn your stable coins, get paid out later,
57:41
[SPEAKER_08]: Yeah, I'll try and do a deep dive for Thursday if I could find some more information on tempo in the partnership because it sounds really interesting Good, I was gonna say at some point you might need to make a meme of Brendan the door-dash driver holding like a U.S. D.C. stable coin
57:59
[SPEAKER_08]: I love it.
57:59
[SPEAKER_08]: I started when the world shut down in 2020, I just signed up for Dordash and Uber Eats just to get out of the house and drive, make a couple extra bucks and buy that crypto dip that pick one dip in the market dip during COVID.
58:17
[SPEAKER_08]: I'm familiar with the streets.
58:20
[SPEAKER_08]: I'm familiar with that.
58:21
[SPEAKER_00]: Okay.
58:22
[SPEAKER_08]: Well, actually honestly, it was kind of like, I don't know if funds are right where, because I didn't, you know, I'm sure people work really, really hard, doing a lot of hours, but like, I don't know.
58:29
[SPEAKER_08]: You get out a couple hours.
58:30
[SPEAKER_08]: You pick up some food.
58:31
[SPEAKER_08]: It was, uh, I like driving too.
58:33
[SPEAKER_08]: So I injured it.
58:34
[SPEAKER_01]: I'm gonna say what?
58:35
[SPEAKER_08]: Yeah, I had to get out of the house.
58:36
[SPEAKER_08]: But awesome episode, Brian, and thank you guys so much for tuning in on the live and the audio.
58:41
[SPEAKER_08]: We really appreciate it.
58:42
[SPEAKER_08]: I'll post in the community what time we're going on Thursday.
58:45
[SPEAKER_08]: We're doing a Thursday afternoon episode with me and Brian.
58:47
[SPEAKER_08]: If almost now we're on the dot, love that.
58:50
[SPEAKER_08]: Really, thank you all as always for listening.
58:53
[SPEAKER_08]: Have a great rest of the week and we'll talk to everybody later this week.
58:56
[SPEAKER_08]: Goodbye, everybody.