Latest / CRYPTO 101 / Crypto Rundown: Michael Saylor To Sell Bitcoin, The Clarity Act Markup, & How It Affects the Crypto Trade

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Crypto Rundown: Michael Saylor To Sell Bitcoin, The Clarity Act Markup, & How It Affects the Crypto Trade · CRYPTO 101

0:06
[SPEAKER_03]: All right, everybody, we are live.
0:09
[SPEAKER_03]: Welcome back to a episode of the crypto rundown.
0:12
[SPEAKER_03]: Listen, the sailor selling Bitcoin headline have everyone asking the same question.
0:17
[SPEAKER_03]: Is one of Bitcoin's biggest bulls actually preparing to sell.
0:21
[SPEAKER_03]: The guy that says never sell your Bitcoin is now talking about selling the Bitcoin.
0:25
[SPEAKER_03]: So today we're gonna break down what he said, why people panicked and what he clarified after, to see what the outcome will be for micro strategy shareholders and the Bitcoin community at large.
0:36
[SPEAKER_03]: but that's only half the story because at the same time the Clarity Act is moving towards a major May 14th markup this week.
0:43
[SPEAKER_03]: The American Bankers Association is starting to get vocal as of today and the polymarket odds are moving as Washington may be getting closer to defining the future of crypto and America.
0:53
[SPEAKER_03]: There's some news on this stuff every day that we need to break down.
0:56
[SPEAKER_03]: The Clarity Act is really heating up.
0:58
[SPEAKER_03]: So by the end of this episode, you'll know two things is sailor actually bearish and going to sell Bitcoin and what is the newest news with the Clarity Act and what are the odds as of today of it getting to the finish line this year.
1:10
[SPEAKER_03]: We've got Brian.
1:11
[SPEAKER_03]: We've got Tevo.
1:12
[SPEAKER_03]: Let's dive right into it.
1:14
[SPEAKER_03]: Brian, I know you saw last week that it came out that sailor on the earnings call, there was a micro strategy earnings call where he mentioned selling Bitcoin.
1:24
[SPEAKER_03]: So we have about a minute 30 clip here.
1:26
[SPEAKER_03]: Let's tee that up and listen to exactly what he said.
1:29
[SPEAKER_03]: The words right from the horse's mouth and then we can kind of break down what that led the crypto Twitter crypto community to start talking about and then we can keep going down the rabbit hole.
1:39
[SPEAKER_03]: Because it was a week long saga of
1:44
[SPEAKER_00]: The most important point here is there are occasionally some short narratives people would say things like, well, you know, if they sell the Bitcoin, that's bad for the business or proves the business doesn't work or something.
1:56
[SPEAKER_00]: But you know, we look at it is, if you're a real estate development company and you bought land for $10,000 an acre and you sold it at $100,000 an acre,
2:05
[SPEAKER_00]: And then you bought more land with the profit, no, you know, or if you sold it $100,000 an acre to pay some interest expense on debt that you used to buy more land.
2:16
[SPEAKER_00]: Nobody would say that that's bad for the price of real estate and no one would say that that proves the business doesn't work.
2:22
[SPEAKER_00]: Real estate development companies literally exist to buy land cheap and solid expensively.
2:27
[SPEAKER_00]: We're like a Bitcoin development company.
2:29
[SPEAKER_00]: We buy a cheap.
2:30
[SPEAKER_00]: We sell it deer.
2:34
[SPEAKER_00]: Where do the dividends come from?
2:37
[SPEAKER_00]: Capital gains fund credit dividends.
2:44
[SPEAKER_03]: So he's really leaning into this all the different financial alchemy that they've set up right inside of micro strategy and then me and you have talked about all the different preferred stocks that now he sells stretches one of them that says it tries to pay this 11% dividend consistently keeping it at a dollar par.
3:02
[SPEAKER_03]: And so there's this now kind of verb
3:06
[SPEAKER_03]: that he has to use of where do we fund these dividends?
3:09
[SPEAKER_03]: Where does the dividends come from and it says capital gains?
3:11
[SPEAKER_03]: Well, as we all know, capital gains are something that can go up and down, just like, you know, a realized gain versus an unrealized gain or a realized loss versus an unrealized loss.
3:22
[SPEAKER_03]: It only becomes a realized gain when you actually sell.
3:25
[SPEAKER_03]: So now he's taught.
3:26
[SPEAKER_03]: So this whole for the first time ever out of his mouth is like, yeah, we might sell some Bitcoin.
3:31
[SPEAKER_03]: So there's a part two to this that we're going to break down with Brian.
3:34
[SPEAKER_03]: You're initial thoughts when you heard this.
3:35
[SPEAKER_03]: I was, I don't know, I was kind of a little shocked.
3:39
[SPEAKER_02]: Yeah, I mean, for for the right reasons because he's the ultimate giga Chad was Bitcoin, you know, it's like Michael Salar will never sell his Bitcoin That's been the theme for as long as as long as he's gone down the Bitcoin rabbit hole and then he comes out and he's basically like well We might sell into these certain conditions.
3:58
[SPEAKER_02]: I do understand where he's coming from.
4:00
[SPEAKER_02]: He's only gay sell to pay off stretch dividends or for tax obligations
4:05
[SPEAKER_02]: you could even argue there that they bought all the way up to the top to $120,000,000 Bitcoin.
4:12
[SPEAKER_02]: And if you sold a little bit and you wrote it up correctly, tax-wise, you could then buy back the exact same amount at a lower entry price.
4:20
[SPEAKER_02]: So I think it's good that if there's ever plans that they could sell Bitcoin for this dividend,
4:26
[SPEAKER_02]: that you should probably announce it before you just blindly sell it.
4:29
[SPEAKER_02]: And everybody sees the wallet movement and that's going to cause a frenzy.
4:33
[SPEAKER_02]: And he's clarifying it.
4:35
[SPEAKER_02]: I'm not too shook up about it because it feels like that sales.
4:39
[SPEAKER_02]: still very bullish on Bitcoin.
4:41
[SPEAKER_02]: They're still buying Bitcoin.
4:42
[SPEAKER_02]: The stretch of dividend looks extremely interesting.
4:45
[SPEAKER_02]: I think it got to a power level today.
4:46
[SPEAKER_02]: I think it's right around 100 bucks.
4:48
[SPEAKER_02]: So anybody that's curious with that stretch of dividend, anything over $100, essentially, that gets allocated to acquiring more Bitcoin.
4:55
[SPEAKER_02]: Anything under it's essentially just people trading shares back and forth.
4:59
[SPEAKER_02]: So it's at power.
5:01
[SPEAKER_02]: He's going to have more firepower to fire
5:04
[SPEAKER_02]: Uh, you know, I think actually as of today, I saw I was looking at that stretch dashboard.
5:08
[SPEAKER_02]: They were like buying 300 Bitcoin or something along those lines.
5:12
[SPEAKER_02]: So he's still buying a little shocked at first, but I'm not personally too shaken up for it.
5:18
[SPEAKER_02]: It's more of a headline grabber.
5:20
[SPEAKER_03]: For sure, definitely a headline grabber, especially coming out of the earnings meeting.
5:24
[SPEAKER_03]: I have up here for everybody on YouTube that we're live.
5:26
[SPEAKER_03]: We really appreciate everybody joining.
5:28
[SPEAKER_03]: Thanks for joining down on Monday.
5:30
[SPEAKER_03]: But yeah, never sell your Bitcoin.
5:31
[SPEAKER_03]: That was his mantra.
5:32
[SPEAKER_03]: I beat the drum with it.
5:34
[SPEAKER_03]: And he said in many different ways over the years.
5:37
[SPEAKER_03]: And now, you know, he's changed his tune.
5:39
[SPEAKER_03]: As I guess, you need to do this financial alchemy, right?
5:42
[SPEAKER_03]: And run all these products.
5:43
[SPEAKER_03]: I sent a screenshot to you.
5:45
[SPEAKER_03]: I don't know if you saw it.
5:46
[SPEAKER_03]: I did buy for research purposes.
5:49
[SPEAKER_03]: I ended up did buying.
5:50
[SPEAKER_03]: I bought one unit for me, one unit of a gambling term of like a sizing portfolio, but like one unit, one unit of stretch.
5:58
[SPEAKER_03]: I just want to see, I just want to keep tabs on it.
6:00
[SPEAKER_03]: I think it's, uh, we talk about it enough.
6:02
[SPEAKER_03]: Again, we're, you know, the journey of, I like to call myself a crypto financial journalist in the space here for doing this podcast and this educational entertainment year that we do, uh, and I want to be involved.
6:12
[SPEAKER_03]: I want to be involved and see, you know, I totally, I kind of set hands up like, I don't totally understand the, uh,
6:18
[SPEAKER_03]: the the alchemy of it but I want to be involved and see see what what comes of it um... obviously will be selling some bit coin it seems like in the future to uh... you know fund this dividend and then he did have to clarify this people were going crazy consensus was last week i didn't even put consensus on the sheet we might have to tie some knots at the end there got a little uh... go look sighting i can see my smile that you saw was going on down's consensus we covered that at the end of the show teaser there
6:44
[SPEAKER_03]: but I say it was down to consensus doing a bunch of different interviews and you know this was clearly the topic of conversation.
6:51
[SPEAKER_03]: So let's see how he clarified of the selling of the Bitcoin in this clip here.
6:56
[SPEAKER_00]: If I was being more precise I say never be a net seller of Bitcoin.
7:00
[SPEAKER_00]: It just wouldn't have been so viral or so catchy to say never be a net seller of the coin.
7:05
[SPEAKER_00]: I think that in these periods, even if we were to sell one Bitcoin, we'd be buying 10 to 20 more Bitcoin.
7:11
[SPEAKER_00]: So you really talk about a situation where we buy 10 Bitcoin, sell one Bitcoin, buy nine net Bitcoin and continue to create Bitcoin.
7:20
[SPEAKER_00]: It should be a non-issue after people understand it, but right now it's a colorful area of commentary.
7:26
[SPEAKER_03]: Is it possible for you to comment?
7:28
[SPEAKER_03]: How do you sell
7:32
[SPEAKER_00]: So the number one Bitcoin accretion engine is stretch.
7:36
[SPEAKER_00]: We sold $3.2 billion of STRC in April.
7:42
[SPEAKER_00]: So we bought $3.2 billion of Bitcoin.
7:45
[SPEAKER_00]: The dividend is about 80 to 90 million.
7:49
[SPEAKER_00]: So in the month when we're raising $3 billion, we need to come up with $80 or $90 million to pay the dividend.
7:57
[SPEAKER_00]: So you would be in essence, you would be buying $30 Bitcoin, selling one Bitcoin.
8:10
[SPEAKER_02]: Do you think Sailor ever used a credit card to pay off a credit card?
8:15
[SPEAKER_03]: Right.
8:15
[SPEAKER_03]: Yeah.
8:16
[SPEAKER_03]: Yeah.
8:16
[SPEAKER_03]: I think so.
8:17
[SPEAKER_03]: Think really talking about it.
8:19
[SPEAKER_03]: It's so funny because I think he kind of, he's also kind of like, uh, he's got to be troll sometimes, right?
8:25
[SPEAKER_03]: In the online, he knows he's very, uh, he's very aware of how to get attention, right?
8:31
[SPEAKER_03]: He kind of said that like, oh, if I just said what I really meant,
8:33
[SPEAKER_03]: It wouldn't be as viral or catchy.
8:35
[SPEAKER_03]: So he kind of knows what he's doing.
8:38
[SPEAKER_03]: But he's quite, and he's obviously a well-respected person in the crypto and Bitcoin community.
8:42
[SPEAKER_03]: So he does these interviews with people that are super happy to have him on.
8:46
[SPEAKER_03]: So there's always that kind of respect of having him as a guest.
8:50
[SPEAKER_03]: And so I appreciate the questions, but I don't think anybody really like really goes after him, you know, in the interviews unless he's kind of on TV and gets an anchor maybe that isn't a fan of crypto or Bitcoin.
9:02
[SPEAKER_03]: But yeah, I don't, it's a little bit more complicated of, you know, why would you sell one Bitcoin?
9:08
[SPEAKER_03]: Why not just not buy as many Bitcoins and then use that cash to pay the dividend?
9:12
[SPEAKER_03]: And I don't understand it would, you know, what rate or where you're buying, what the, is it all in one purchase is a no T.C.
9:19
[SPEAKER_03]: Dash purchase or you're doing it every week, you know, I guess that's the specifics of it is like more or less the timing of it, but he wants to be a net buyer.
9:28
[SPEAKER_03]: And so I agree with you.
9:30
[SPEAKER_03]: It's kind of a,
9:31
[SPEAKER_03]: It's definitely something that I think is planned on a, you know, on a PR front of like you don't want to see the micro strategy while it starts selling Bitcoin like that's going to panic panic panic market for sure.
9:43
[SPEAKER_02]: Yeah, I mean, he didn't buy tremendous amount of Bitcoin last week either, so and we actually grind it up, we have like a choppy nice grind up with Bitcoin.
9:52
[SPEAKER_02]: I really like kind of how we're setting up and we weren't like inflated by any of these sailor buys, and obviously he's the largest buyer, Bitcoin, one of the largest holders of Bitcoin, so we want them to support Bitcoin, but Bitcoin's way bigger than Michael Seller.
10:05
[SPEAKER_02]: You know, and where we're headed with Bitcoin and the whole crypto industry in blockchain is way bigger than Michael Seller, so like as much as I love talking about this, we had line it and like, you know, he says these says these viral things.
10:20
[SPEAKER_02]: The engine will go on no matter with or without Michael Seller, but personally.
10:24
[SPEAKER_02]: I'm not, I'm not frantically checking his wall.
10:27
[SPEAKER_02]: It's or worried about him just completely flipping on Bitcoin, you know.
10:32
[SPEAKER_02]: He makes some interesting points there where the virality, if he just says never to sell Bitcoin, I mean, he's been banging the drum for a while, he's kind of flip-off in a little bit, but we're going to move on and things are going to be okay.
10:45
[SPEAKER_02]: I mean, Bitcoin's feeling pretty good right now.
10:48
[SPEAKER_02]: I'm on the upper end of the fear and greed meter.
10:51
[SPEAKER_03]: Hmm, yeah, we'll pull that, let's we can pull that up before we move on to our next topic, but
10:57
[SPEAKER_03]: Yeah, I think it's something to monitor again.
10:58
[SPEAKER_03]: We let off we want to lead off this show with it because of uh... Yeah, it kind of took the crypto definitely the crypto timeline by storm on that earnings call went and then it led into consensus it was kind of talking the town so obviously it's uh... say they're putting himself back in the news and there's plenty of people buying and selling all of his stock preferred products so you know there's a little bit of a PR note there as well
11:22
[SPEAKER_03]: We could pull a point-coin market cap before we move on to the Clarity Actors to see what's going on.
11:29
[SPEAKER_03]: Nice little 2% 7 day move for Bitcoin.
11:32
[SPEAKER_03]: Pretty flat on the day.
11:34
[SPEAKER_03]: There's some most.
11:36
[SPEAKER_03]: 7 day pop up there's Solana.
11:38
[SPEAKER_02]: Solana kind of outperforming I've been kind of bashing it a little bit at any chance I can't because it was just hanging around like eighty five dollars I've swear everything was going up and so on it was just sitting at eighty five bucks But now we're closing in on that hundred dollar mark which I think is a pretty key psychological number for Solana
11:56
[SPEAKER_02]: Hey, crypto is far from dead.
11:59
[SPEAKER_02]: I'll tell you that much it.
12:00
[SPEAKER_03]: Yeah.
12:01
[SPEAKER_02]: Well, we're starting to get out of that rut that everybody was in and I'm starting to get more questions about crypto just in my personal life, all of a sudden, so that's always a really interesting sign is because some of my friends are as retail's retail guests and they're asking some questions again like, hey Bitcoin
12:18
[SPEAKER_03]: Bitcoin going back to a hundred grand in do time yeah we've been so in a month we've been one month in neutral now which is night because we've been down here and kind of we've been covering it on this show our our rhetoric was we were not really looking for that blowoff top is what we've been saying I know for the last month but we want to see that grind higher which which we've been seeing I think a couple
12:41
[SPEAKER_03]: a week or two ago, maybe two weeks ago we'd mean you were on and I was like, yeah, well, I think Bitcoin wants to dance in the 80s.
12:46
[SPEAKER_03]: That was the quote.
12:47
[SPEAKER_03]: We want to do some dancing in the 80s.
12:48
[SPEAKER_03]: And here we are, dancing at 82, having a little bit of fun.
12:53
[SPEAKER_03]: But yeah, you kind of like to see the tide slowly lifting.
12:56
[SPEAKER_03]: And, you know, I mean, obviously, if you're going to rip higher, everybody loves that.
13:00
[SPEAKER_03]: But I think it's healthier to kind of
13:02
[SPEAKER_03]: grind upwards right now.
13:04
[SPEAKER_03]: And then there's this huge AI trade that continues to just rotate whether it's, you know, first it was chips.
13:09
[SPEAKER_03]: Then it was semis.
13:10
[SPEAKER_03]: Now it's memory.
13:11
[SPEAKER_03]: Like it's it's a crazy euphoric market over in the AI trade.
13:15
[SPEAKER_03]: But I think eventually that money we've talked about the rotation of capital happens.
13:20
[SPEAKER_03]: And I feel like if you're somebody that has this long firm belief in the crypto markets and you do your research and you find your projects, you know, as we've
13:30
[SPEAKER_03]: uh... there was a there's a it's kind of a popcorn market right there's some absolute winners to be had i know brice and hunter have some coin the weeks the moment of money makers have had some uh... in their community we were talking about the vannis token in our group chat which you know was it was a big call maybe pull that one up on the chart for the people uh... juicy that's a juicy that was juicy like the whole company like it but i know Joe and i call it pretty early and uh...
13:56
[SPEAKER_02]: it's a cool project.
13:57
[SPEAKER_03]: Yeah, I mean, look at that.
13:58
[SPEAKER_03]: I mean, the one one week alone's up 84, one month, uh, 107, 1 year, 304% and you can go all the way down there, you know, huge run ups since the beginning of the year.
14:07
[SPEAKER_03]: Uh, that February dip there.
14:09
[SPEAKER_03]: And that's the type of stuff.
14:11
[SPEAKER_03]: that you're getting inside the community there's it's it's that time so that and I think that's kind of a foreshadow of what can happen when the rotation comes back and crypto is in the spotlight you're going to be seeing a lot more of those obviously they're a little bit harder to find in the more recent months but it's coming back there's
14:28
[SPEAKER_03]: like you said crypto's far from dead and so if you're interested in kind of that more access to our team in the private community and be getting these calls check the link below we have a trial for a moment of money makers we're not going to spend too much time on that today because we're going to do a Friday spectacular with Brian and Joe a moment of money makers Friday spectacular
14:49
[SPEAKER_03]: Uh, so we'll go over more like momentum, uh, money makers, some meme coins, some NFTs.
14:54
[SPEAKER_03]: Uh, so something to look forward to for Friday, but as always, you know, if you're interested in getting more access and getting some of these crazy winners that are teams finding check out the link below.
15:04
[SPEAKER_03]: Uh, how's everybody doing in the chat?
15:05
[SPEAKER_03]: We got a decent decent crew here for a Monday.
15:07
[SPEAKER_03]: Holy whales is here.
15:08
[SPEAKER_03]: Of course, uh, living beyond measure.
15:11
[SPEAKER_03]: We love Tvo.
15:12
[SPEAKER_03]: You're too kind.
15:13
[SPEAKER_03]: We love Tvo and Brian as well.
15:15
[SPEAKER_03]: Matt Beaver's here.
15:16
[SPEAKER_03]: And who else is here on a Friday?
15:18
[SPEAKER_03]: Let us know where you're watching in from.
15:20
[SPEAKER_03]: I think we had a worldwide viewership on last Friday.
15:25
[SPEAKER_03]: Let's see where everybody's from today.
15:27
[SPEAKER_03]: Let us know in the chat.
15:28
[SPEAKER_03]: Give the video a thumbs up and obviously subscribe if you're new.
15:31
[SPEAKER_03]: We got some clarity at news.
15:33
[SPEAKER_03]: We need to cover here.
15:35
[SPEAKER_03]: the American Banking Association, front of the show Rob Nichols.
15:41
[SPEAKER_03]: I think I'll remember sending out a members note to all the American Banking Association members on Mother's Day.
15:48
[SPEAKER_03]: Let me tell you, Ryan, if you're sitting down in your computer on Mother's Day and firing out a note,
15:52
[SPEAKER_03]: So all the bankers first off happy Mother's Day to all the moms receiving this email And I'm sorry to intrude on your Sunday in truths of thoughts for the American Banking Association is taking over This is how nervous they are guys the markup is scheduled for May 14th and the American Banking Association CEO Cannot sit down and enjoy breakfast cup of coffee a nice brunch with his wife and family
16:18
[SPEAKER_03]: he has to open up his computer and write a note to its members because he needs to reach out and say I'm reaching out to make every bank leader in this country aware of urgent advocacy fight that requires your immediate engagement and that immediate engagement was on Mother's Day
16:33
[SPEAKER_03]: As you may be aware, the Senate banking community has been working on digital asset legislation for several months and laid on Friday the committee announced plans to mark up and vote on the Clarity Act of this Thursday.
16:44
[SPEAKER_03]: That's going to be May 14th.
16:45
[SPEAKER_03]: The markup is being done.
16:47
[SPEAKER_03]: To be clear, we want Congress to put in place digital asset rules and established responsible guardrails for the crypto industry, the current version.
16:56
[SPEAKER_03]: of the legislation, although improved from the earlier versions still does not adequately prevent crypto companies from offering interest-like rewards on payment stablecoins without additional changes.
17:07
[SPEAKER_03]: We believe the current proposal would unnecessarily incentivize the flight of bank deposits into payment stablecoins, putting both economic growth and financial stability at risk.
17:18
[SPEAKER_03]: So the ABA!
17:19
[SPEAKER_03]: is not happy with the current markup.
17:22
[SPEAKER_03]: I thought this was a big, uh, an announcement in a way today that I saw because it got the polymarket odds moving, uh, and I actually dipped down.
17:31
[SPEAKER_03]: So polymarket dipped down.
17:33
[SPEAKER_03]: Oh, pop back up came back.
17:35
[SPEAKER_03]: It came back up.
17:36
[SPEAKER_03]: Look at this.
17:37
[SPEAKER_03]: Let's go on the, uh,
17:38
[SPEAKER_03]: The one in an hour ago at 65 see this tip this came out May 11th this morning the note I guess was kind of you know, nobody checked their email on Sunday.
17:51
[SPEAKER_03]: Classic bankers by the way only nine to five job that's classic banking protocol not looking at the Mother's Day email they open up this morning.
18:01
[SPEAKER_03]: It hits the hits online hits the news flow
18:04
[SPEAKER_03]: goes from 79, 80% yesterday down to 62.
18:08
[SPEAKER_03]: That's a pretty big swing Brian.
18:10
[SPEAKER_03]: And then we're all the way back up to 74 now.
18:13
[SPEAKER_03]: What's your initial thoughts on this?
18:16
[SPEAKER_02]: Azing that they sent this out on Mother's Day.
18:19
[SPEAKER_02]: Flip that entire segment you had and just run it on repeat because that was, those are the beauties that get out.
18:26
[SPEAKER_02]: I love that the ABA, the bankers are sweating a little bit.
18:30
[SPEAKER_02]: Banks have had a cozy racket.
18:33
[SPEAKER_02]: They give you a tiny interest.
18:35
[SPEAKER_02]: big spreads for them, and now they're fighting tooth and nail to keep it and stable coins give everyday people actual returns on cash and a really pro consumer competition.
18:46
[SPEAKER_02]: It's not a threat to stability that they're saying.
18:49
[SPEAKER_02]: It's essentially innovation wins, so I'm excited, man.
18:53
[SPEAKER_02]: I like seeing, I like to see the uncomfortableness out of the bankers.
18:57
[SPEAKER_02]: I think the clarity act gets done.
18:59
[SPEAKER_02]: I love our personal positions when we gallbled this up.
19:02
[SPEAKER_02]: What was it in the 40s?
19:04
[SPEAKER_02]: We're talking about it like, and we were, I mean, I'm much more bullish right now because, you know, I think the markups come in in just a few days, so things are looking pretty good for this clarity act to happen, but you can tell the banks aren't happy, man, and they're just shooting that email off on a mother's day, which is beautiful.
19:24
[SPEAKER_03]: Yeah, that was a nice, that was a nice little rip there, uh, the cartel, the cartel's nervous.
19:29
[SPEAKER_03]: I guess the, you know, I think we kind of covered when it looked like it was going forward to mark up.
19:34
[SPEAKER_03]: It was like, hey, it felt like a good negotiation, uh, not everybody got what they wanted on both sides.
19:40
[SPEAKER_03]: There's still some rewards on the table, but it's not, you know, idle rewards, but I guess Rob Nichols here, not not excited about it.
19:49
[SPEAKER_03]: So I guess the, I think this is getting, it's definitely getting down to brass tax, which we've been kind of foresighting is like, hey, this got to get done basically what we feel before August, because then there's the the break.
20:01
[SPEAKER_03]: For DC, they kind of take their summer vacations, so we want to get it done before then because then it's a absolute crapshoot going into midterms if you can even get anything done.
20:12
[SPEAKER_03]: So I guess Thursday there's going to be some big news.
20:16
[SPEAKER_03]: I don't really, I got to be honest, I don't really know what a markup, you know, what happens during the markup and then it goes to a vote.
20:21
[SPEAKER_03]: So it's like the vote before the vote or final negotiations before the vote.
20:25
[SPEAKER_03]: So something to keep tabs on and I think, you know, Polymark, it's showing you what's going on here.
20:33
[SPEAKER_03]: It's moving around, but shooting back up to the upside, which we love to see.
20:38
[SPEAKER_03]: So you threw an article about the mark up here, anything specific to add onto that?
20:44
[SPEAKER_02]: Oh, no, I was just kind of putting it just making note that there's going to be this mark-up coming, you know?
20:50
[SPEAKER_02]: And it's going to be good.
20:51
[SPEAKER_02]: I mean, I think the main
20:53
[SPEAKER_02]: But we talked about it with tallest in everybody last week that the main structure of how this clarity-axoming presented is essentially getting a grid upon it feels like, now we're going to take it, they're going to maybe make a few alterations, but the gist of it is kind of in place right now, what we hopefully are going to get signed here.
21:13
[SPEAKER_02]: So, um,
21:14
[SPEAKER_02]: I think the Pauli market odds are very telling.
21:16
[SPEAKER_02]: I do.
21:17
[SPEAKER_02]: I think this happens.
21:19
[SPEAKER_02]: I think this happens.
21:20
[SPEAKER_02]: I think once it gets to Trump's desk, I think he says he's going to sign at the day it gets to his desk.
21:26
[SPEAKER_02]: So this can happen very quickly.
21:27
[SPEAKER_02]: And that's going to be very bullish for crypto.
21:30
[SPEAKER_02]: It's one of those catalysts we've been preaching about for months now for a year now that hey, it's a clarity axikay.
21:36
[SPEAKER_02]: Give a lot of
21:37
[SPEAKER_02]: clarity and unlocks liquidity to the market.
21:41
[SPEAKER_02]: So I'm excited to see it happen.
21:43
[SPEAKER_02]: I think the government wants to get, I think the White House, I should say, wants to get it done and for good reason.
21:49
[SPEAKER_02]: You know, there's a lot of, there's a lot of good reasons.
21:52
[SPEAKER_02]: Yeah, I think it's better for the consumers.
21:53
[SPEAKER_02]: I think it's better for the people.
21:55
[SPEAKER_02]: I think stable coins in blockchain technology is the future.
21:59
[SPEAKER_02]: There's no denying that.
22:00
[SPEAKER_02]: So we should be one of the leaders in the world and this gets us one step closer.
22:05
[SPEAKER_03]: Yeah, I'll put a little call out there for the people something to watch for because we like to do some calls from time to time.
22:12
[SPEAKER_03]: It's just a just a little Tvo special as we like to do here on the show.
22:16
[SPEAKER_03]: We're going to do already bought it bought the dip.
22:19
[SPEAKER_03]: It's a it's a purely a it's a clarity act play.
22:24
[SPEAKER_03]: And so I've been ironed up, you know, a little short term getting a little squarely feeling it.
22:29
[SPEAKER_03]: I've been watching Coinbase and I think Coinbase has been a lot of negativity.
22:34
[SPEAKER_03]: They started firing people.
22:36
[SPEAKER_03]: We're going to kind of cover that next, you know, what was going on in the Coinbase world of, you know, firing a lot of the staff.
22:42
[SPEAKER_03]: uh... then they uh... you know they're like coin a eyes the future for coin base and uh... i went and i bought the dip because i was like a big sell off earnings were bad you knew earnings were gonna be bad because the you know price action was so bad but i think that there's a nice little catalyst here for uh... for coin base to kind of break out of this three month range that i've been keeping track of
23:04
[SPEAKER_03]: uh... so uh... bought the dip on coin base last week under two hundred it's uh... and i think it's kind of at this little breakout point not personal financial device for anybody again we're just having a fun little short term play a little short term gamble uh... but yeah we're dancing with coin base into the clarity acts so uh... up seven percent today don't hate to see that brine not gonna lie to you up seven percent about to kiss nine percent uh... technically looks good so let's let's let's monitor that we could put that on my scorecard
23:32
[SPEAKER_03]: uh... will come back to it you know in a week or two and see what's going on uh... with coin base but there's a lot of other stuff going on as well uh... and that this was what you brought to this attention before transition to the coin base discussion uh... the u.s. government crypto holdings added four billion since April 1st now this is news to me is there anything specific you can point to Brian and show why this is happening
23:57
[SPEAKER_03]: No, no, we got a few research on this.
24:04
[SPEAKER_02]: Yeah, we should do a little bit of due diligence.
24:06
[SPEAKER_02]: I saw that this was going across coin telegraph.
24:08
[SPEAKER_02]: And I thought it was just super interesting going into the Clarity Act.
24:12
[SPEAKER_02]: Why the US government is adding 4 billion since April first.
24:17
[SPEAKER_02]: So we should, yeah, it's certainly, let's fact check exactly what's happening here.
24:21
[SPEAKER_02]: But if that's the case,
24:23
[SPEAKER_02]: The government front running again is this something to really keep tabs on because I'll be honest I feel it on the sheet because I haven't heard a lot of that as well.
24:32
[SPEAKER_02]: I haven't heard this mean talked about but I mean That's a very interesting topic if this is there.
24:37
[SPEAKER_02]: I mean a lot of these people track the government wallets
24:40
[SPEAKER_02]: So if they're I didn't go down and go do the on-chain metrics.
24:44
[SPEAKER_03]: Maybe I threw it on for everybody live with us.
24:46
[SPEAKER_03]: We're just going to throw it into super rock here on X.
24:49
[SPEAKER_03]: Just to see what it spits out for a little fact check.
24:51
[SPEAKER_03]: But it could be because all boats are rising right now, right?
24:54
[SPEAKER_03]: Bitcoins up at theorems up for maybe it's like the holdings that we have.
24:58
[SPEAKER_03]: It's not necessarily that says that might be a little.
25:02
[SPEAKER_03]: miss misleading added uh it's really you know it's what the it's the actual gains of the the holdings are bringing the value up maybe let's see what it says yeah uh let's see include chariot's government world large crypto holders a government
25:19
[SPEAKER_03]: This is mostly passive gains, not active buying.
25:21
[SPEAKER_03]: The government doesn't typically purchase on the open markets, that makes sense.
25:25
[SPEAKER_03]: And there wasn't a big, usually it'd be like a big seizure, right?
25:28
[SPEAKER_03]: I think they're looking to lock down some wallets from my ran, and obviously they're always taken if there's a seizure that can add to it.
25:37
[SPEAKER_03]: But I didn't see any news on that.
25:39
[SPEAKER_03]: So that makes sense here, not actively buying.
25:42
[SPEAKER_03]: Although we were waiting, we pulled that clip up from the Bitcoin conference where they said,
25:47
[SPEAKER_03]: You know, some big announcements coming when it comes to the point for strategic reserve, right?
25:52
[SPEAKER_03]: So that's something that we're monitoring, but I haven't seen any news of that either.
25:55
[SPEAKER_03]: So we'll we'll chalk this up to the holdings are are just, yeah, like they said, passive unrealized gains, which makes a lot of sense.
26:02
[SPEAKER_03]: But as we move on, I think Coinbase and Circle I want to talk about next.
26:08
[SPEAKER_03]: We kind of already started with Coinbase.
26:10
[SPEAKER_03]: I said I liked it technically here.
26:12
[SPEAKER_03]: I think there's a little bit of a breakout.
26:14
[SPEAKER_03]: So that's a little Tvo play we can monitor.
26:17
[SPEAKER_03]: And it's purely, it's a technical play and it's a fundamental play.
26:20
[SPEAKER_03]: If the clarity act goes through, I think that's a no-brainer.
26:23
[SPEAKER_03]: That Coinbase is going to go up.
26:24
[SPEAKER_03]: You buy it on a little weakness in earnings and see what happens, but I wanted to get your take on Coinbase last week because they had a they had a rough week They started off, you know a lot of employees lose their jobs.
26:34
[SPEAKER_03]: We don't like to see that and then Coinbase kind of has their earnings and the numbers were really bad Which you expect when you know crypto prices are down.
26:43
[SPEAKER_03]: There's not tons of trading going on so that makes sense And but then there was this whole pivot to you know
26:50
[SPEAKER_03]: the future of coinbase is AI and it's stable coins and agentic layers and trading they could try to pitch on this earnings call or they did pitch with Brian Armstrong was like AI is the future of finance and that's going to live on coinbase and I think you know people were like okay this is kind of a different
27:09
[SPEAKER_03]: a little bit of a different direction.
27:10
[SPEAKER_03]: You were kind of pitching, then just pure trading, right?
27:13
[SPEAKER_03]: Like an exchange.
27:15
[SPEAKER_03]: And then they came in the announced that Coinbase was buying some Bitcoin, which they haven't done in a while.
27:20
[SPEAKER_03]: And they used to, are traditionally over the years, they've gotten kind of a lot of shit for,
27:26
[SPEAKER_03]: where they they weren't buying Bitcoin they have a ton of cash on their balance sheet but they don't hold a ton of Bitcoin and so I kind of looked at it we talked about on Friday so I won't double to give a double take but I said it was like this is just kind of like a PR stunt like it's not that much money they have a lot of more money they could start buying Bitcoin if they really wanted to believe but they've been kind of on their ropes with price action they've been on the ropes firing people that's bad PR right when you start firing a bunch of people
27:52
[SPEAKER_03]: And now they're kind of changing their outlook of what the future of Coinbase might be and so they had to do something positive so they buy 88 million worth of Bitcoin.
28:01
[SPEAKER_03]: What do you think?
28:02
[SPEAKER_02]: Yeah, that's a really good take.
28:03
[SPEAKER_02]: I didn't really think about that angle, but it does feel like.
28:06
[SPEAKER_02]: I mean, $88 million, there's a lot of money to the average person, but the coin-based is to drop in the bucket.
28:11
[SPEAKER_02]: So it does feel like it's like, hey, we need to, we need to get some positive headlines out here, boys.
28:19
[SPEAKER_02]: We fired some people.
28:20
[SPEAKER_02]: We're talking about AI a lot more than it's being the future.
28:23
[SPEAKER_02]: It's some server issues, but certainly this feels like a little bit more headline catching than we're all in on Bitcoin.
28:32
[SPEAKER_02]: But obviously,
28:33
[SPEAKER_02]: They're big supporters of Bitcoin in the crypto industry, but I like your take a lot.
28:39
[SPEAKER_03]: Yeah, and I and we love people on Coinbase.
28:42
[SPEAKER_03]: We have them on the podcast all the time.
28:44
[SPEAKER_03]: And they're obviously leaders in an invasion in the space, but as a journalist, I just got a call like I see it.
28:49
[SPEAKER_03]: There's going to call like I see it.
28:51
[SPEAKER_03]: And I want to see Coinbase buy more Bitcoin.
28:54
[SPEAKER_03]: I think that would be great as a definitely as a, you know, vote a confidence for the product.
28:59
[SPEAKER_03]: Like you said, I think when you're looking back and, you know,
29:03
[SPEAKER_03]: It's always Monday morning quarterback of this whole bear market take and nobody was calling for a bear market in November in December of 25 and then we start 26 and you know if you saw people are hoping for the blow off top and then all of a sudden this narrative is like oh actually we're in a bear market.
29:18
[SPEAKER_03]: It comes out of nowhere.
29:19
[SPEAKER_03]: You go back to kind of the if you're taking that stance you go back to the bull market and Coinbase was you know doing a lot of buying and they they bought that we talked about they bought that show.
29:31
[SPEAKER_03]: They were spending a lot of money doing a lot of things and then now it's hey we're getting rid of a lot of employees and you know you kind of you're doing the math on how they spent some of their money in the last couple years and it's just an interesting thing to gather all that information and give some takes I think
29:49
[SPEAKER_03]: a little bit more of a PR move than an investment, but we're always looking for more and then I think it was funny that a lot of people did a little bit of dancing on them because their servers went down.
29:59
[SPEAKER_03]: I think it was quick, but Coinbase's servers went down and they blamed it on AWS.
30:05
[SPEAKER_03]: So as not the best, not the best week to fire a bunch of your employees and then the servers go down, the Twitter had a field day with them on that.
30:14
[SPEAKER_02]: Yeah, I saw that trending quite a bit and had some of my own personal issues, so that was a bad timing.
30:22
[SPEAKER_02]: You know, you get rid of your 700 people that surfers go down, that's all right, Coinbase to the moon.
30:30
[SPEAKER_03]: We're riding.
30:31
[SPEAKER_03]: So all that said, yeah, well, that said, I just gave a call on Coinbase.
30:36
[SPEAKER_03]: Listen, you buy the negativity by the dip.
30:40
[SPEAKER_03]: I'm always a dip buyer.
30:41
[SPEAKER_02]: I love dip.
30:42
[SPEAKER_02]: Yeah, me too, man.
30:43
[SPEAKER_02]: I love big creatures because we we know nothing's going on and Coinbase is not going anywhere Bitcoin is not going anywhere the ETFs are absolutely Rocketing and one largest custodials of ETFs are for these institutions Coinbase.
30:57
[SPEAKER_02]: Yeah, we call it the way it is man.
30:59
[SPEAKER_02]: We like where the price is at and I agree with you on that, but you know that they they made some interesting headlines recently, but
31:06
[SPEAKER_03]: It's again, it's a what have you done for me lately, market no matter what you're trading.
31:11
[SPEAKER_03]: And that's why I stepped in on Coinbase was all right.
31:12
[SPEAKER_03]: They got beat down the earnings came.
31:14
[SPEAKER_03]: They were bad, but I'm looking at the next, I don't know, six day weeks.
31:18
[SPEAKER_03]: I'm like, dude, I know this is there's a lot of positivity Bitcoin looks good.
31:21
[SPEAKER_03]: Some of y'all coins are moving that looks good.
31:24
[SPEAKER_03]: So obviously Coinbase trades on that news plus the clarity act.
31:26
[SPEAKER_03]: kind of seems like a no-brainer and they have a huge state coin base as a huge stake in circle and circle keeps partnering with black rocks stuff like this and circle has a circle has been moving on the clarity act news as well so circle raises 222 million from black rock and some others for arc token free sale at a $3 billion valuation and it kind of made me think it's like okay so here's you know circle you can buy on the on on stock exchange as
31:56
[SPEAKER_03]: They're trading, but you know, you can also buy coin base because they have a lot of exposure to circle as well and I thought I thought this was interesting because black rock, this is a take from Anthony Pompeo, I don't know who he got a lot of flag last week too.
32:13
[SPEAKER_02]: Yeah, he was making headlines.
32:15
[SPEAKER_02]: I mean, it's very clickbaity.
32:25
[SPEAKER_03]: But I thought this was kind of will tie this in.
32:27
[SPEAKER_03]: Let's listen to what POM said about BlackRock because they think it's Bitcoin specific, but it ties into the circle of conversation as well.
32:33
[SPEAKER_01]: is now a Bitcoin company.
32:35
[SPEAKER_01]: It's the largest, most successful launch in history.
32:38
[SPEAKER_01]: That's where the most profitable product is.
32:40
[SPEAKER_01]: And so why don't they get labeled as a Bitcoin or crypto company?
32:43
[SPEAKER_01]: It's not a knock against them.
32:44
[SPEAKER_01]: I think they are incredibly big pioneers in an industry.
32:48
[SPEAKER_01]: And so it's just like it has now been so successful that it has become part of the man or the machine.
32:53
[SPEAKER_01]: I don't think that's a bad thing.
32:55
[SPEAKER_01]: That's what happens when you succeed.
32:57
[SPEAKER_03]: black rock is a Bitcoin company.
33:00
[SPEAKER_03]: I actually thought that was a cool kind of quote.
33:03
[SPEAKER_03]: And then you could kind of expand it with stuff like this black rock is a crypto company.
33:08
[SPEAKER_03]: Crypto is becoming finance and that's kind of circles back to what pomps of you didn't see it.
33:14
[SPEAKER_03]: I don't know what we'll talk about it because it was a very clickbaity, but this whole thing was Crypto's dead.
33:19
[SPEAKER_03]: and it was the transformation of the old guard of buying all these coins that don't do anything is dead.
33:27
[SPEAKER_03]: That's dead, but also the industry's matured.
33:30
[SPEAKER_03]: And this is what we're talking about with the maturity of the industry is it's just kind of merging with the traditional finance.
33:35
[SPEAKER_03]: And so BlackRock is a Bitcoin company.
33:37
[SPEAKER_03]: I thought was a catchy phrase.
33:38
[SPEAKER_03]: You could even expand that and say BlackRock is a crypto company, Ethereum, Circle Bitcoin.
33:44
[SPEAKER_03]: What do you think, Brian?
33:46
[SPEAKER_02]: Yeah, it's an interesting take and he makes a really good point.
33:49
[SPEAKER_02]: It's BlackRock's largest product right now, and they're massive.
33:54
[SPEAKER_02]: So I think that my take from this entire circle, BlackRock is this is massive institutional validation.
34:01
[SPEAKER_02]: We talk about this a lot, but BlackRock and crew are betting on circles, stable coin native chain as the rails for the next wave of tokenized finance.
34:09
[SPEAKER_02]: So I'm bullish as heck for real adoption.
34:14
[SPEAKER_02]: Black rocks at the front of it, circles at the front of it, and pumps take saying that Black rocks are Bitcoin company.
34:21
[SPEAKER_02]: I could be convinced into that.
34:23
[SPEAKER_02]: It is.
34:23
[SPEAKER_02]: It's one of the most profitable one of the most successful products.
34:27
[SPEAKER_02]: It's not the only thing on their company, obviously, but it's becoming
34:31
[SPEAKER_02]: bigger eyeballs on it every single day in black rock is not, you know, we know how big black rock is with nine trillion dollars in assets or something crazy.
34:40
[SPEAKER_02]: So they run a lot of the financial world.
34:42
[SPEAKER_02]: So it's encouraging to see it's awesome news.
34:46
[SPEAKER_03]: Yeah, it definitely is because again,
34:50
[SPEAKER_03]: it's nonstop of these larger institutions are so involved and again we've said this so many times but you don't get involved on this scale just to do it for six months a year two years like they've built these products they've hired these people we showed a little asshole how many you know big firms classic wall street firms continue to hire for crypto jobs you know this stuff
35:10
[SPEAKER_03]: This isn't going anywhere and it's kind of, you know, the crypto is dead.
35:15
[SPEAKER_03]: It's really just crypto was a caterpillar and it's, you know, morphing into this, you know, financial butterfly.
35:21
[SPEAKER_03]: It's like converging with the space almost, which is really interesting.
35:25
[SPEAKER_03]: Cause again,
35:26
[SPEAKER_03]: The price actions, the price action as we inch higher, but man, these ETFs continue to just bring in money.
35:32
[SPEAKER_03]: This spot in, the spot Bitcoin ETFs records six straight weeks of net inflows.
35:38
[SPEAKER_03]: That's $33.4 billion.
35:40
[SPEAKER_03]: It's the longest streak since August of 2025.
35:43
[SPEAKER_03]: It was the strongest week since April 17, last week was 622 million dollars.
35:52
[SPEAKER_03]: And I saw, I saw another clip, it was, people were thinking, you know, Morgan Stanley, ZETF could, could start to really climb the ranks of holding because of the cheap fees.
36:04
[SPEAKER_02]: Yeah, the fees are, the fees are great there, so I think that's going to, I think it's only natural that we'll see more interest in the Morgan Stanley one, especially if you're getting into it, and they have a team of financial advisors, that's actively talking about Bitcoin and crypto.
36:27
[SPEAKER_02]: because we've had some red days as well, you know, this wasn't all just like massive inflow days in a straight line.
36:33
[SPEAKER_02]: We also we've had some red days.
36:36
[SPEAKER_02]: We had some interesting days out there, but just overall net positive movement in the entire market.
36:41
[SPEAKER_02]: So great to see.
36:43
[SPEAKER_02]: I agree with you that crypto and the regular finance world are the caterpillar, I believe you said, that it's getting turned into something that's this hybrid approach and we're seeing it happen in real time.
36:57
[SPEAKER_02]: We had the CEO of the American Bank Association sent out some crazy email on Mother's Day on a Sunday about like the threat to their industry.
37:08
[SPEAKER_02]: I mean, this is, we're going to look back on this and be like, this was pretty obvious of where we were going.
37:18
[SPEAKER_03]: Yeah, it feels like the, and as I just, this chart here, just for anybody watching on YouTube is total crypto market cap.
37:26
[SPEAKER_03]: It looks like, you know, a little red there, like Brian said, you know, it's been good in flows and outflows overall, we're trending higher even though there's been a little bit of volatility as we climb for the crypto market cap there.
37:39
[SPEAKER_03]: But, um,
37:39
[SPEAKER_03]: Yeah, it feels like for the Senate banking community going on mother's daddy or sorry, the ABA sending that out on mother's day is kind of comparable.
37:48
[SPEAKER_03]: It feels like this clarity act, but it's like a seven game series, you know, whether it's hockey or basketball and just like, you know, it's been a good back and fourth series.
37:56
[SPEAKER_03]: There's been some wins for both teams.
37:58
[SPEAKER_03]: And now it's now it's fourth quarter, you know, all the sudden, you know, the crypto team went on a little run, a little like, you know, 10 to two run and now, you know,
38:08
[SPEAKER_03]: Now the banking, the banking association has to start fouling.
38:13
[SPEAKER_03]: So the coach calls it now, Senator Warren's getting in there.
38:16
[SPEAKER_03]: She's like, what the hell's going on?
38:18
[SPEAKER_03]: Guys, I thought we had this luck.
38:19
[SPEAKER_03]: We've been padding the pockets of the Senate and the Congress for decades.
38:23
[SPEAKER_03]: How are we losing this right now?
38:25
[SPEAKER_03]: And they got to start fouling and throwing out emails on Mother's Day to get this thing before the markup on Wednesday.
38:32
[SPEAKER_03]: So kind of kind of.
38:33
[SPEAKER_03]: exciting time for the industry uh which is uh you know that was one hell of an example I pulled out there.
38:38
[SPEAKER_02]: What an analogy dude but it's right if you take this at basketball terms it's uh little tend to run in the banks or just slap in hands get bringer people they're hoping for a miss foul shock.
38:50
[SPEAKER_02]: Yeah they're really they're really
38:52
[SPEAKER_02]: They're not feeling it.
38:53
[SPEAKER_02]: They're gripping the ball a little heavier.
38:54
[SPEAKER_02]: You can always have that miracle buzzer beater, but they're there and some trouble right now.
38:59
[SPEAKER_02]: You know your cash out option on draft Kings isn't even showing up anymore.
39:05
[SPEAKER_02]: It's great out draft things.
39:07
[SPEAKER_02]: It doesn't even gonna let you out of this one.
39:10
[SPEAKER_02]: So That's just that that email on Mother's Day gets me so I think we're in a good spot here with the clarity act But fingers crossed things to well first off happy Mother's Day to all the moms out there.
39:26
[SPEAKER_03]: Sorry to bother you
39:27
[SPEAKER_03]: We're under direct attack by crypto bros unbelievable.
39:34
[SPEAKER_03]: We got one more quick hitter here and then maybe we'll talk about the consensus Fiasco anybody out there on YouTube.
39:40
[SPEAKER_03]: We appreciate everybody watching again the chat's not super active
39:44
[SPEAKER_03]: But it's on people are watching, which is awesome.
39:46
[SPEAKER_03]: Let us know where you're watching from.
39:47
[SPEAKER_03]: And if you have any questions, throw some questions in the chat.
39:50
[SPEAKER_03]: Let's get the chat active.
39:51
[SPEAKER_03]: I know it's not Friday.
39:52
[SPEAKER_03]: The chat is always active on Friday.
39:55
[SPEAKER_03]: We got a little case of the Mondays in the chat.
39:57
[SPEAKER_03]: But let me let's know.
39:58
[SPEAKER_03]: Let us know where you're watching from.
40:00
[SPEAKER_03]: Let us know if you have any questions.
40:01
[SPEAKER_03]: We'll answer them at the end.
40:03
[SPEAKER_03]: But one more point here on the quick hitter.
40:05
[SPEAKER_03]: Morgan Stanley is kind of going all in, not all in.
40:09
[SPEAKER_03]: But you know, continues to go in on crypto, adding.
40:12
[SPEAKER_03]: They're going to start rolling out crypto trading on E trade and they're undercutting Schwab 75 bips who undercut Coinbase who, you know, so again, Morgan Stanley sees the green shoots in crypto, which continues from its, you know, first ever spot Bitcoin ETF to just continue to rolling it out on its flagship trading platform E trade, which we all know.
40:35
[SPEAKER_03]: So again, and I...
40:38
[SPEAKER_03]: Tradfies and Tradfies is no joke with crypto right now and they're it's it's so interesting because kind of how we covered it's like how do you look at the old school crypto exchanges you know the coinbase is the crackings the Gemini's and like I guess you throw Robin Hood in there it's you know are you are you crypto specific now they're starting you know they're adding equities Tradfies adding crypto everybody's adding prediction markets it's like it seems like
41:06
[SPEAKER_03]: somewhere down the line there's gotta be some consolidation i mean obviously there's gonna be multiple winners and you know multiple people can run there's never gonna be one exchange but it is fascinating to see everybody reaching grab to add as many products as they can.
41:20
[SPEAKER_02]: Yeah, I mean, it's the future.
41:22
[SPEAKER_02]: We say it all the time and it's maybe cliche, but it's the truth.
41:25
[SPEAKER_02]: It's the future of so much of the world, of how we're moving forward, we're tokenized assets and everything utilizing blockchain and crypto or what Rails and a lot of these big players out there don't want to miss their shot.
41:38
[SPEAKER_02]: So I still think we're super early to and crypto just to stay for anybody that's like recently gotten to crypto.
41:44
[SPEAKER_02]: I still think that the sky's a limit where we can go in this industry.
41:50
[SPEAKER_02]: and we're seeing major institutions and major players, millionaires billionaires countries out there try to get some sort of a land grab here in the crypto industry seeing it in AI as well.
42:03
[SPEAKER_02]: So it's time to start paying attention.
42:06
[SPEAKER_02]: I say at all the time we kind of
42:08
[SPEAKER_02]: We took a knee, we ran the clock out a little bit there when we were in the bear market, but everything's waking up a little bit and there's going to be some really great opportunities and I'm going to look back on this time and be like, man, it just looks so obvious when you look at the facts.
42:24
[SPEAKER_03]: of it, I'm right there with you.
42:27
[SPEAKER_03]: The, as we go on, the, the last thing that I wanted to cover was some viral anger on the timeline for the consensus after party.
42:39
[SPEAKER_03]: I think overall, people, I saw a great breakdown.
42:42
[SPEAKER_03]: Here's the take on consensus overall.
42:45
[SPEAKER_03]: And it got, it got the Bitcoin conference in it too.
42:48
[SPEAKER_03]: So I saw a great breakdown.
42:49
[SPEAKER_03]: It was the Bitcoin conference had a lot more
42:52
[SPEAKER_03]: old school Bitcoiners a lot more old school crypto people who have been around for a while still believe where it's going and it's more of a fundamental belief in crypto and Bitcoin Whereas consensus is now way more the, you know, the, you know, kind of kind of just a Wall Street S crypto conference a lot more Tradvide down there Kind of speaking on the crypto rails meets Tradvide that was kind of what consensus had to offer
43:19
[SPEAKER_03]: So that's kind of the break that was a breakdown for somebody I saw that was just kind of the, you know, 30,000 feet of both conferences, but apparently and I was this, I don't know how to bring this up because again, we're a family show of course.
43:48
[SPEAKER_03]: If you don't know what 11 nightclub is, it is a mix between a nightclub and a strip club.
43:53
[SPEAKER_03]: There are dancers there, there are strippers there, but it's also a nightclub, and they bring in top performing acts.
43:59
[SPEAKER_03]: Like, actually, you would see across the country, top performing, you know, famous rappers, famous EDM artists that play it, you know, some of the biggest shows in the country.
44:09
[SPEAKER_03]: So it's kind of a cross-pollination of the two, if you will, and it's an institution down in Miami for sure, along with a club space or live shout out to friend of the show Harrison down at live.
44:26
[SPEAKER_03]: We love our guy Harrison.
44:27
[SPEAKER_03]: And so, you know, when you're in Miami, Miami's its own thing.
44:31
[SPEAKER_03]: Miami's is truly a very unique city in the United States.
44:36
[SPEAKER_03]: Every, you know, all the top tier cities have its own thing.
44:38
[SPEAKER_03]: Miami is truly its own thing.
44:40
[SPEAKER_03]: So there was this after party at 11 and then it tore people apart.
44:43
[SPEAKER_03]: It was, why are we having our after parties at strip clubs versus hey, it's just, you know, it's a nice club, it's an after party.
44:49
[SPEAKER_03]: You can go.
44:50
[SPEAKER_03]: You don't have to go.
44:51
[SPEAKER_03]: It's not like it was consensus was held at 11.
44:54
[SPEAKER_03]: I thought it was fun.
44:56
[SPEAKER_03]: I think, um, I thought it was a fun kind of squall I saw on X. I don't really, I don't know.
45:02
[SPEAKER_03]: I don't know what my official take is.
45:03
[SPEAKER_03]: What's yours, Brian?
45:05
[SPEAKER_02]: Is that we're playing the video of the, did you see the guy who was like really a little bit tipsy and you like, I don't want to get, I don't want to get a strike on on the channel.
45:14
[SPEAKER_02]: Oh, yeah, yeah, yeah, yeah, yeah, I'm talking about them.
45:16
[SPEAKER_02]: You know, I'm talking about, yeah, it's, uh, hey, people had a good time at 11.
45:20
[SPEAKER_02]: No one's forcing you to go there.
45:23
[SPEAKER_02]: It's like you said, it's not working since this was held, but there are certainly some interesting events that happen.
45:30
[SPEAKER_02]: I mean, it's a crypto conference, you know, even though we have all these institutional bidders coming in and we're all grown up, we still get a few crypto
45:46
[SPEAKER_03]: Oh, oh, I didn't realize it was me.
45:48
[SPEAKER_03]: All right, let's, I mean, should we fact check that with, with super Rocky?
45:53
[SPEAKER_02]: Well, we fact, we fact, yes, we should at least like rough fact check.
45:57
[SPEAKER_03]: You know, let's tell us what's can we think this is a lot of rock all the time after party officially.
46:08
[SPEAKER_03]: because I see it's wheat that says it was but that could also you got to be careful because like there's a lot of people that especially because me and Bryce went to consensus in Austin and there's the official consensus at the you know the convention center and there's a lot of official consensus.
46:23
[SPEAKER_03]: Parties after parties meet-ups, but there's a ton of unofficial meet-ups as well.
46:28
[SPEAKER_03]: So people just know that all the crypto people are going to be there, and they start saying, oh, you know, and this is any type of event they'll do this, but they try and piggyback off the bigger event to throw side events to get you to buy a ticket or come, and a lot of times will throw
46:43
[SPEAKER_03]: the actual logo in the name and hope that, you know, the lawyers don't see it and give them a C&D before the event actually happens.
46:49
[SPEAKER_03]: That's huge in the music industry.
46:51
[SPEAKER_03]: Every night club tries to piggyback off of whatever, you know, big festivals happening in that town.
46:57
[SPEAKER_03]: So if you have an EDM festival, they're going to try and say, like, you know, the official after party of the festival is at this night club, even if it has nothing to do with it.
47:04
[SPEAKER_03]: So I think that's an important thing.
47:06
[SPEAKER_03]: Let's see.
47:07
[SPEAKER_03]: Yeah, this is, okay, we're going to,
47:12
[SPEAKER_03]: Yes, the official consensus 2026 after party are closing party was held at 11 on May 6, 2026.
47:21
[SPEAKER_03]: So that's what it was.
47:23
[SPEAKER_03]: It was hosted by the best event in partnership with consists hosted by the best event.
47:28
[SPEAKER_03]: I guess that's the name of the company.
47:30
[SPEAKER_03]: In partnership with Coin Desk sponsors include Meta Mask, others, it was explicitly listed as the official after party on the consensus agenda and the event pages.
47:41
[SPEAKER_03]: It drew significant attendance, long lines, high demand, the biggest lines, the longest lines.
47:46
[SPEAKER_03]: It was huge.
47:48
[SPEAKER_03]: It was just, but also spark controversy.
47:52
[SPEAKER_03]: In crypto, due to the venues, adult entertainment vibe, this is confirmed across all consensus news deaths.
48:00
[SPEAKER_03]: Okay, so let's toss it around as now saying that is the official.
48:06
[SPEAKER_03]: after party my take would be it doesn't bother you can go if you want you don't have to go um and you know as a show we weren't there so if you're against it credit us as individuals some of us may have been to eleven were cool who knows so you know we would ever side you're on work or the right podcast for you please like please subscribe
48:25
[SPEAKER_03]: We're just batting around.
48:26
[SPEAKER_03]: I'll say one negative thing.
48:27
[SPEAKER_03]: If you're going to have an official after party at 11, you need to go get a top tier performer.
48:34
[SPEAKER_03]: There was no top tier performer.
48:36
[SPEAKER_03]: I don't even know who was.
48:37
[SPEAKER_03]: It wasn't talked about.
48:38
[SPEAKER_03]: There were no photos.
48:39
[SPEAKER_03]: There was no mention.
48:40
[SPEAKER_03]: So if you're going to say, hey, this is what we do down in Miami.
48:44
[SPEAKER_03]: This is a Miami way of life.
48:46
[SPEAKER_03]: We go to 11.
48:47
[SPEAKER_03]: for the official after party.
48:49
[SPEAKER_03]: Well, we need to do it the right way.
48:50
[SPEAKER_03]: We need to have a top tier performer where the crypto industry where bullish, we're going to the moon.
48:56
[SPEAKER_03]: So as a promoter and somebody that has put on events before, I think a little bit of a money grab.
49:01
[SPEAKER_03]: If you're going to say, hey, we're having it here and you don't live up to bringing that type of performer to that stage.
49:07
[SPEAKER_03]: I'll say that.
49:09
[SPEAKER_02]: This is the type of alpha that we get on the rundown and really the rundown only.
49:14
[SPEAKER_02]: I don't think there's another show out there that has a better, more interesting take on this consensus 11 after party and you nailed it, dude.
49:22
[SPEAKER_02]: I even think of that.
49:24
[SPEAKER_02]: They, you know, everyone's talking about getting their landbows.
49:27
[SPEAKER_02]: Just bringing the Navy a list here.
49:29
[SPEAKER_02]: Let's bring in a great, let's bring in a great performer here.
49:33
[SPEAKER_02]: Get buzzed up a little bit.
49:34
[SPEAKER_02]: Get some pictures out there on the act.
49:36
[SPEAKER_02]: Show that new.
49:37
[SPEAKER_02]: Might be a little bit of a bear market, but we're not down.
49:39
[SPEAKER_02]: It's Madonna back there.
49:41
[SPEAKER_03]: It's Madonna performing.
49:43
[SPEAKER_03]: We need, we need a top tier, we need a top tier, a list performer for a top tier crypto conference.
49:49
[SPEAKER_03]: And I think you, I think you missed if you didn't go all out for that.
49:54
[SPEAKER_03]: That's my, that's my final take of all mine that it was there, but if it's going to be there we need to live up to the events the shows the conference is the after parties any party we need to live up to what that stage is and it's a top tier stage for top tier performers and if we're top tier crypto company and we're top tier crypto event and we're top tier crypto space and we're going to the moon why don't we have why don't we have a top tier performer.
50:21
[SPEAKER_02]: couldn't set it better myself.
50:22
[SPEAKER_02]: That's exactly the truth, man.
50:25
[SPEAKER_02]: So consensus, you almost got there.
50:28
[SPEAKER_02]: Do a little better next year.
50:29
[SPEAKER_03]: Yeah.
50:30
[SPEAKER_02]: That's all right.
50:31
[SPEAKER_03]: I let, but I book me.
50:32
[SPEAKER_03]: I guess this all come down to book me in all, I'll book the party, I'll book the artists.
50:36
[SPEAKER_03]: That's what we'll do.
50:37
[SPEAKER_03]: Throw a couple shackles my way.
50:39
[SPEAKER_03]: I'm happy to do it.
50:40
[SPEAKER_03]: uh... one of one day we got very beach florida robin from Texas and uh... uh... from sunny Seattle all you love to see some sun in Seattle from time to time looting ten mission uh... the crypto bull from looting ten mission robs from Wisconsin uh...
50:56
[SPEAKER_03]: no international show we didn't get a little international yet uh i think holy wells in Canada so maybe we'll check the box there for for Canada any final thoughts we'd be going to the markup uh on Thursday may 14th right i bring this back and tie a knot on it any final thoughts for listeners out there
51:14
[SPEAKER_02]: Gotta watch the show on Friday.
51:16
[SPEAKER_02]: Happy Friday show was could be absolutely electric, dude.
51:22
[SPEAKER_02]: Not only are we gonna talk about some of the most fun things in crypto, but we might get some very interesting news on the Clarity Act.
51:30
[SPEAKER_02]: I don't know how long we have to wait for this mark up or what the details are, but I'll tell you what could be a super exciting show for Friday.
51:38
[SPEAKER_02]: I'm pro, I'm pro bullish on this Clarity Act happening.
51:42
[SPEAKER_03]: and i'm ready for let's just get moving get it done mark it up get it signed and uh... let's get past one twenty nine all-time high well i like it i like it uh... yeah friday's gonna be a great show uh... i do have my parents the tvo's are coming in sound today uh... which you love to uh... sea so it's going to be a little earlier than usual in friday so i can entertain them in the afternoon
52:05
[SPEAKER_03]: But we're going to put on the community tab on make sure to clarify what time that's going to be and if there's any breaking news Wednesday or Thursday for the markup maybe Brian and I hop on for 10 15 minutes on Thursday and break it down is like a specific clarity act update episode And not that we won't touch it on Friday, but momentum money makers on Friday so you're going to want to tune into that we're going to be talking about winners
52:27
[SPEAKER_03]: We're gonna be talking about future winners.
52:28
[SPEAKER_03]: We're getting update on the Tivo Coinbase call.
52:30
[SPEAKER_03]: Remember, it's never financial advice.
52:32
[SPEAKER_03]: It is just a couple friends talking crypto, having a good time.
52:36
[SPEAKER_03]: We really appreciate everybody tuning in on a Monday.
52:38
[SPEAKER_03]: Almost 500 views on a Monday on YouTube on the live.
52:41
[SPEAKER_03]: We really appreciate love everybody.
52:43
[SPEAKER_03]: One final call, give it a like.
52:44
[SPEAKER_03]: Bottom right, if you're new, subscribe.
52:46
[SPEAKER_03]: Have a great Monday, and we're gonna talk to everybody later in the week, but that's all for now.
52:50
[SPEAKER_03]: Bye everybody.