Good morning, good morning GMGM everyone. Welcome to another episode of Homo Our Day, Friday our 7th 2025. And it is a huge day, absolutely huge. Yesterday, it was an incredibly important day for Bitcoin and the broader crypto space. I don't want to take credit for it, but folks, I saw the sign, the universe sent me the SBR sign, and then it came to fruition. Trump dropped the strategic Bitcoin Reserve executive order last night.
Now all eyes turning to his speech and the crypto summit later today, the question on everyone's mind, is it going to be sell the news or will it live up to the hype? We're going to break it all down on today's show. We've got Farouk on and off with us. He's our boots on the ground reporter live from DC, so we're going to try to check in with him. But we've got the other Co hosts in the house as well, Manda and Logan. Manda GM how you doing? I'm doing great man. How are you?
Very good. It's a big day. Yeah, I think we called, we called this Bitcoin Reserve relatively well, I think, right, very well. Yesterday's show basically said exactly what was going to happen and the market freaked out and then seemingly is OK. Market freaked out and then realized they were all being idiots and that, yeah, maybe this is still actually a, a, a bullish thing. So a, a very swift recovery,
which which you love to see. Then we've got Bessent coming out and saying he wants the markets to break more. So we're going to talk about that and, and how to balance this. But before we get there, Logie, you're on with us here today as well, just in case we need some additional support with Froak in and out. How you doing, Jim? I'm doing well. The sun is shining here, prices like a little bit of green and it's pretty good. Can't complain and.
We're in green today, all green. Just so happy to, to, to see it on the board. Farouk, he's he's on with us folks live from DC. How you doing? Dude, let me take you guys through where I am right now. Hold on, hold on. No, it's not the White House, y'all. Not yet. There's a look at the monument, man. Look at that. Look at that beauty, America. Proof of America. USAUSAI, I'm chilling man. Just got off the phone with our girl Anne or Tourette.
We're gonna meet with her. She's like the goat cripple rider. And then headed to White House for noon to be fucking sick. How you actually are going? Yeah, they just called. That's why I got off yesterday. So I was meant to go there yesterday too guys and I ended up waiting outside for an hour and a half and it was 3°C and I lost mobility in my left hand for like 4 hours because I went without a jacket because it was across the street.
And. And so basically the Secret Service had my dates mixed up because on my passport it's September 7th, but I'm French so it's set like 7/9/94. So they had it July instead of September 7th. And the Secret Service don't fuck around. If the numbers don't match the front door, you ain't getting in. So we're going today. It'll be exciting. We don't. Like you're going to get a second, you're going to get a second look at yourself for a Iranian, Iranian origin guy
won't. You're fighting when you want to be. I'm going to go fix those tariffs, you know that's what I'm going for. No, no. So, So what is happening? You're you're going to the White House at noon today. Yeah. So yesterday, I mean, we will make a post about this later on, but I guess we can talk about it on the show a little bit today. But basically we got a point of the hard pass at the White House.
So I don't want to make a crazy claim, but I do think we're the only right now as of today, media outlet in crypto that has a hard pass at the White House, which allows for one of the reporters to have full access to the White House for next four years and to cover, you know, all things, all things media in the White House. So we're going to be focused on
crypto as well. So I got to prove for that, but given that I don't live in Washington or the area, and then I'll probably be moving to Portugal soon, I don't want to put that to waste. So Sander from the crypt is going to be our White House correspondent. So we have a White House correspondent on the crypt side now that's going to be there all the time. On my end, they offered me to get into temporary passes. And so we've known for three weeks about yesterday or a month
even. But then so happens that there was this tweet come out about the crypto summit being today, which is like a coincidence. It's like divine timing. And so, you know, we made a few calls, sent of two emails, finagled our way in. So normally, please, if everything goes well, I don't want to jinx myself. We should be in the room. Not for the summit itself because that's very private. As you can tell. I don't think I'm of the caliber yet.
But there will be a point where President Trump signs executive orders. As you get seen. It's not even a secret anymore because it was posted yesterday. And apparently there's a short list of people which could be us, will be able to come in and like witness that and be there for that and then potentially also be in the presser briefing room for whoever wants to do interviews after. So there's a chance we interview Beau Heinz. There's a chance we interview David Sackler.
It's up to them if they feel like it, even like Brian Armstrong, all these folks that are there, if they want to, they'll be able to come to the presser. So we'll be in the room, man, I'm excited. Like we'll be in the room for this historical day. Like it's crazy. Huge day. I mean, one of the arguably one of the single biggest days, right? I mean, it's Matthew. That's why last night I didn't understand what went on, but I know you'll talk about that. But yeah, it's, it's historical
day today. Definitely, it's a great day for crypto. Well, we're so happy that you're you're there. We're happy that you're taking time away to, to talk to us folks. What are we talking about on the show here this morning? We're going to start with the market report jobs, the latest comments from Scott Bessent, NASDAQ turning 24/7. We're going to get into Trump signing the strategic Bitcoin Reserve. What does it mean? Buy the news, sell the news. Predictions for the summit
today. Texas passed its own SBR bill through the Senate. New York drafting a bill to go after rug pullers. Watch out. Jido buyback proposal on the table. Tucker Carlson interviewing SBF Marriott. We're going to we're going to drill into those myriad money markets, baby, because they are officially live and maybe a little bit of meme talk at the end before we dive in.
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An icon of trust in crypto as recognizable as Visa at checkout. If you want to learn more, follow at Wallet connect on X and Telegram to stay ahead of what's next. We love our partners as always. All right, Mando, if you're ready, let's get into it. Who is the main macro daddy of the land? Can you dig it? GM everyone. So I think we already said we kind of called all of this yesterday, right? Like we called, we called what
we thought would happen. We said that, you know, it'd be very difficult for them to do anything other than just confiscate. They can't spend and that's kind of what we got. We got a a they're not going to sell any of the confiscated Bitcoin. Bitcoin seems to be slightly different than the crypto stockpile. I don't really know how that's
going to work. In the past, I thought that potentially those L ones could donate funds to the stockpile and maybe like in return the US becomes a validator. I don't know. But like there's maybe some options down the line for that. And we got, we got commentary that they were going to potentially look further at like fiscal neutral ways of building this reserve. And there are a few different things mentioned there. The first one was like selling gold.
They haven't yet touched upon the mining stuff that I've kind of spoken about. But it does seem like that could also be on the table in my opinion. But they basically are saying judicial, anything that is compensated, we're going to keep and, and they're going to look at fiscal neutral ways. So my, my guess is that they're going to get into mining. That's, that's my guess here, which I think will be bullish in general.
You know, we have some validation here of what's going on, But but it's, it's not them going to buy at the same time, the states I think will stop buying. So you had Texas yesterday. Looks like it's very ready now to, to, to, to go with a Bitcoin reserve. I think we're going to see a lot of states do this. I would, I would probably guess in the, in the realm of like 15 to 20 states could, could, could do something like this.
A few of them have been shot down already, but we could be in a world where like half or nearly half of all the states out there have some form of a, of a Bitcoin reserve policy. And then I think the second order impact is, is, is legitimizing this even more for companies and for starting that sort of global, global game theory from other countries that that, you know, might be easier to buy Bitcoin or, you know, might be less reliant on like reliant on their own native
currency. You know, there's a lot of like there's a lot of countries with with not great local currencies and they have dependency on the dollar and they may choose to go down the route of Bitcoin being their reserve asset. So I think what you've really just started there is, yes, short term disappointing versus what you may have had on TikTok, but long term bullish for if you're like paying attention. I think so, yeah. I think, I think it's generally
should be taken positively. What what we saw yesterday on the back of it, Bitcoin has outperformed pretty massively. We had a terrible damn stock market again yesterday. And even today it doesn't look that great. Like it's bounced slightly. NVIDIA was down 6% I think yesterday. It's bounced up 1% today, but they kind of look like relief bounces across the board. And you have a NASDAQ. NASDAQ was down 3% yesterday. It's only up nought .2% today. This has the hallmark to me of a
Friday sell off in macro. Again, people freaking out. Obviously the commentary that that you've hinted upon, Tyler, is there's been very, very direct commentary from various people in the Trump administration talking about the fact that they don't care about the stock market. They've got a job to do here, which is which whether the stock
market likes it or not. And it, you know, it, it changes the tone of Trump tweeting about the stock market every single, every single week of the last administration. Yesterday he went on, he was asked about it. He said, I don't even look at it anymore. So he said globalists have caused the sell off. So yeah, I think he, he's not as focused on it this year. And we've spoken about how that, you know, that may not even be the worst policy for him from a from a general popularity
standpoint. You know, he might win over short term voters with this sort of approach of like, you know, looking after the future with trying to balance the budget, that sort of stuff. So let's see, let's see it it definitely might be in like an age gap in how his popularity wanes. But yeah, macro is is really not feeling good on the back of that. We've had some weak economic data yesterday. Again, one of the weakest jobs figures since 2020 yesterday.
Europe, Europe is currently going through this like semi bond crisis because of what's going on in the, the fiscal spending to to kind of everyone's talking about an arms race now in Europe. So like all the Western Power, Western European powers are talking about spending a ton of money now to do that. It's definitely it's definitely gotten people relatively relatively afraid there. And I think this is just seeping around the world right now.
Like it just it, there's just uncertainty and that's causing stuff to go lower in terms of crypto. We had Bitcoin outperform really in particular L ones have held up OK, you know, like Solana held up OK. Pretty much all the L ones, they're within like 1% of where they were yesterday. Like it's not been like a crazy move, but the but the, the more risky bits of the market are
getting punished at the moment. AI memes, you know, whatever attempts there were at rallies in in in in those have been have been kind of smashed back lower. The strongest stuff I see is in Defy and and in L ones. Yeah, there's a lot to unpack. I'm the I was looking at the AI board. My God, it is destroyed. Yeah. ARC was basically 100 million. Virtual is now below half a billion and The thing is like those are still pretty high
numbers. So sadly, and I I still hold some of these like there there's more there's more room to fall, unfortunately, and it's kind of hard to see what the catalyst there is. Well, there's a lot to unpack with the report. Thanks for going through that Mando. Maybe as I want to quickly talk about the the the Scott best that was the. Other thing to mention if we can get into that.
Yeah, we'll, we'll have to get into the SPF interview hearing about I did listen to about 30 minutes of that put myself through the pain, but I feel like Bisson comes out every day now. He just keeps telling us that the markets need more pain. Now he's saying like there's going to be a detox period. And I got I'm as bullish as anyone and like I want to see everything like rebound swiftly. But it's kind of hard to imagine that playing out like they're
based. It feels like they're, they're telling us like we're going to keep. You know. Breaking things here, like we're going to drive this down, we want rates to come down and then we're going to try to reset everything you like. How long is it going to last? Like how? Like how is anything going to really outperform in that
scenario? I think, I think they, we spoke about this before like that they may be kind of sandbagging the first half or the first year and then maybe that leads to like more monetary stimulus down the line. I think that's that's kind of the world we may be living in here in that they don't mind being bringing this period of austerity, focusing on the 10 year and then in a year's time, they think the US will benefit from it largely, especially what
they're doing. There's certain things that are happening here which are are kind of pro Trump getting down, getting the like the budget balance, so to speak, is bringing down bond yields in the, in the US. Bringing down bond yields in the US has made the dollar weaker.
That's been one of Trump's number one things he wanted to do alongside the stock market going up and the dollar weaker means better trade balances, which is kind of a very core bit of his, his belief system that he wants to kind of re re energize the manufacturing base of the US and and get better trade balances with all their major partners. So, you know, there's, there's, there's a few things here, which I think which I think he, he is happy to keep going for a while.
You know, like, as long as the economy doesn't like die and it's just the stock market, he he won't particularly, you know, he, he this is Trump anomics, right? This is what he wants to do. So and I think they're they're OK. They are broadly OK with that. It's it's less, it's probably less friendly to like big tech or multi multinationals. But the idea is that this could this could maybe change the make up of the US in certain ways.
And you know, it's kind of like when a football manager comes in, you know, they're going to shake stuff up at the start and then he's got four years. So he's kind of like trying to build a team for the future. Do you know what I mean? And I think. He's OK to like destroy it at the start and and kind of see what happens. On paper it makes sense. I think conceptually a lot of people would be OK with that. But then there's also just like
the like the near term pain. And if his approval rating starts going down swiftly as markets are dipping, like are they going to be able to hold the course for how long and how long is this going to last? I think that's the that's the big question right now. What has it like his approval rating? I still the other day hit an all time high right in in the start of February. I agree. Look, if the stock market keeps on going down, that's generally not a good sign for AUS
president. But I think we can all agree that the stock market has been largely detached from life. True. For people in the US and that's been one of the main issues here is that like that it's been a a years and years of fiscal and monetary stimulus, trillions of that. And that's largely just led to higher asset prices, which is which has led to this like massive disparity and and perverse incentives. I think particularly for like some of the bigger the bigger
companies out there. So I don't know if he'll lose approval rates in doing this. Like, I really don't, I think it like, yeah, it's not great to see, you know, Nasdaq's down 25%. But I think what you're really just going to hurt there is people who have have blindly just been like, yeah, own U.S. stocks forever. Like that's the trade. Feels like that's going to be slightly questioned here. I don't know.
But it could always come back. Like in a year's time, we could be in a situation where you have a not, I wouldn't say like AI don't know if I'll be able to balance the budget in the first year, but like probably one of the best budget deficits the US had in a long time. And you could be in a world where monetary policy comes in because it's been very restrictive for the last two years, 2 1/2 years now. And then you start to see rates get cut.
You start to see maybe not QE, but QE by another name. And Trump basically calls upon them to kind of to not bail out the economy, but basically bail out the stock market. I feel like that's, that's kind of my my base case. It's just a matter of when and timing and how, how is it going to play out. Logie, I'm, I'm curious for, for your thoughts on all this boots on the ground in Pennsylvania. Are folks OK? Yeah, nobody here in Central Pennsylvania is talking about the stock market.
You mainly see the tweets about the price eggs type thing. So nobody's complaining too much. I don't actually know the approval rating or and haven't been following the fluctuation and such, but nothing would shock me if it it's not moved higher, right? People don't, at least people I'm interacting with, they're not paying attention to the stock market because they're not really invested in the stock market.
But I think the, the larger thing for me, I mean, I don't have much to share beyond what Mando has in terms of the, the macro impacts. But the thing that's harder for me I'm seeing on my timeline a little bit more is just trying to rewire my own brain to understand that they are beating us over the head with this thing.
Talks has been tweeting about it, about, you know, Besson's comments like they're telegraphing this, they've said this, Trump tweeted it or posted on Truth social or whatever. There would be short term pain and we keep looking for reasons for there not to be and want because we because we want there not to be right. We want the prices to go up
every single day. And I'm just, I'm struggling a little bit with myself just getting myself to rewire a little, you know, to expect and and be OK with it. And I do have a very, you know, try to have a much longer term outlook on Bitcoin and things like that. But it's hard when you log in here every single day. I saw something from Alex good about like, can there be an
obvious bear market? Like those types of thoughts are just starting to permeate my timeline a little bit more and I'm trying to just come to grips with it and, and understand, and you not, not overreact in in either direction through the bullish or the bearish. May have seen tweets from me recently about, you know, it's our on crypto Twitter particularly, like, you know, we are either overly bearish or overly bullish. There's no in between.
And I'm just trying to put myself a little bit more in the middle. And I know the mid curve is not always the place you want to be here, but for the time being, I, I think it, it might be a, a place where you want to start drifting just at least for the time being. So that's what I'm trying to do personally. Logie, Max, Barish, you, you heard it here first, folks. No, I'm with you. I feel like that's a logical place to be. Let's talk about the the crypto
news. Mando gave us a nice summary of it, but Trump did sign the executive order once again. They're going to hold the Bitcoin that they have that they've acquired via forfeitures. It does not lay out, it does not mandate net purchasing, but they are allowed to do budget neutral accumulation. So I didn't have a ton of time this morning. I was trying to kind of come up with like, what, what does that look like? What are potential budget neutral strategies where they could acquire?
I think that's where a lot of our, our, our heads went. Amanda, you've been talking about mining. I actually don't know. Is that technically budget neutral? Because that would require. Yeah, it would. Well, it would probably be done alongside somebody. Maybe it'll be some subsidy in some way in in response as well, like on electricity, let's say there was somebody came out with a tweet potentially fiscal fiscally neutral methods, continuing judicial
confiscation. We obviously know that selling gold for Bitcoin, I think there's going to be almost a zero percent chance of that happening using other fiscal revenues. I don't know what that means. Interestingly, I don't know if you saw, but Lutnick came out yesterday and we were talking about the the sovereign wealth fund and Lutnick said we will not be using any tariff income to fund the sovereign wealth fund. So I continue to not know how's. The fund.
How they're going to fund that apart from with debt and I don't know how they would fund purchases of like other fiscal revenues, whatever that means, mining Bitcoin with underutilized resources. This would be the obvious one, like in my opinion. So for example, we build a hydroelectric dam or we are going to find some, you know, we'll provide you with cheap energy. We get, we get you pay, you pay us in Bitcoin. You know, to these miners, there'll be some, there'll be
some deal. I I reckon down the line with some of the biggest Bitcoin miners accept Bitcoin for tax payments or fines, deposit in the reserve and avoid selling. So yeah, this is this would simply be that. So like maybe they'll just start charging taxing the miners in Bitcoin or they'll they'll start charging crypto firms in Bitcoin. So something like that. That would be that would be an obvious one. And yeah, that's it. So do you see what I mean?
Like in terms of the actual ones that are actually seem possible, it's about mining or taxes being paid in some way by via Bitcoin. Yeah, I think those are are two of the most likely. The gold swap is an option on the table, but anything that requires Congress approval feels like it's going to be a huge stretch. And I think that's going to be a tougher fight that the cheese swap is a very interesting 1.
So, so Matt Seigal shared that the US apparently has about two to $4 billion of Swiss cheese in Missouri caves, which they're able to sell. So the cheese to Bitcoin swap is on the table folks. We should be shorting Swiss cheese. 2:00 to 4:00. Billion, did you say? That's what. That's their numbers. I'm quoting the Ban Act. We've got £1.4 billion of cheese in these Missouri caves, folks. US is a strange place this. Could be a sick heist. This could be a sick heist, boys. Hear me out.
I used to trade a company called Iron Mountain. I don't if you guys ever had. Yes, I'm very familiar with Iron Mountain actually. Yeah. And they own, Yeah. Well, actually it's not close to where you are, but Iron Mountain used to be a high yield bond issuer, which I used to trade. And they own an Iron Mountain essentially in the US and they hold a lot of the, they hold a lot of the random storage of US assets in there.
This is also where I think this is where Elon's been complaining about, you know, it's like to get into it is like. It's like 3 times per day and it's just like this very manual and time intensive process. Yeah, yeah. Iron Mountain has underground storage facilities in the United States, but most of them in storage location in Dighton, MA was once a missile storage battery during the Cold War. It's best known 1 is in Pennsylvania. Yeah. So that's the actual Iron
Mountain itself. It's like literally in a, in a mountain of iron. And I would be unsurprised if if you do like you have random agricultural stores. So like generally every major economy has like a emergency grain supply, an emergency rice supply in case something happens, at least like most of the like the G20 do. And I reckon there's some pretty random stuff like Swiss cheese that maybe the US holds. I I didn't know it had 4 billion of it. Like that's, that is wild.
Who's the buyer That's? A good question too. Well for for Oak, I know we may have limited time. Like what? What are like? What's the boots on the ground like whispers, What are people expecting for today? Do you think? Do you think we're going to get any surprises? What's What's the read on what's going to happen at the summit? I don't know, I'm going to try and find out in a couple hours. I'm going to go there like a few hours earlier, but nothing right now. Like so far.
Like I did it with Ivan yesterday night from Moon Pay. He found Moon Pay and he was at the CFTC summit. So basically like it's kind of like an NFT conference where there's like a ton of side events, right? And so yesterday there was like ACFTC side events with like Paolo from USDT, Ivan from Moon Pay, etcetera.
And everyone's bro honestly, like it's weird because I texted that to Mendo. I think like yesterday there was like Max bearish timeline, but like around me was like Max bullish like events and people like I'd just gotten off dinner and like Ivan was like he's he was extremely bullish about the future of like the United States and crypto with regards like the CFTCDSCC, etcetera. So I don't know what's going to happen today, but it's, it's I, I wouldn't like have crazy
expectations, right? Because you guys have talked about this over and over again, like we knew that they can't just buy Bitcoin, but for some reason yesterday some people saw that bad news that they're holding 1% of the Bitcoin of the total Bitcoin supply. So I don't know, I wouldn't expect anything other. What's interesting though, is that they did say last week, I think David Sacks that to expect news at the Digital Asset Summit.
And we all thought that it was going to be the executive order for the reserve, but that happened last night. So I just wonder what happens today. Yeah. There's a headline in the headline in the sense right now saying there'll be no tax benefits announced at. This so it could be the yeah which? Again, you said yesterday they can't do so. I don't know what we're talking
about, but. Yeah. I mean, I don't know what to expect from a roundtable conversation like this is And Davis actually doubled down that saying like, yo, we're not inviting a lot of people because it's like a roundtable closed doors conversation about the future of crypto America, right. So I don't know what. So yeah, I don't know. With L ones, like I don't know if you know, but like Google is a validator on on Solana, right? Google never bought any Solana. Google was given Solana to be a
validator on the node. And that's the case. You sometimes see that with a lot of big tech companies. They are given validators, given enough to be a validator essentially. I would be very unsurprised if this with the L ones, it was more like the US is going to be
a validator on AVAX. I don't know if that's bullish or not, but I think that would be the, that would be a very easy thing that, that that would be possible because they would all these L ones kind of know how to do it and they've done it alongside, you know, big tech companies in the past. There could be as you said, Tyler Sunlight.
I don't think anything concrete. Some light concepts of we are going to going to work alongside these boxing companies for doge efficiency stuff or think about ways to partner them with financial institutions or something like that, Something vague but but there. But I I can't see much concrete coming out of this. Yeah. Yeah, maybe I'm wrong. I think that's fair. Part of me thinks we're going to get a surprise today, but in general it is just a round table.
It's an order being signed at three. I know for sure that during the summit, there's a 15 minute period in the middle where Donald Trump's coming to speak because that's the period where I'm allowed to go in and like some of the rest. So there's a summit. There's a 15 minute break in between where Donald Trump's coming to speak, obviously because he wants to speak to
these founders, right? And then yesterday night there was a three years of alpha breaking news that like there's going to be at 2:45 or 3:00 PM today an executive order, right? Trump does an executive order at 2:30 PM on Friday, then Trump to deliver remarks at the White House just summit at 3:00 PM. So maybe that's not it. All of it's yet. Maybe not. We will be tuning in at 3:00 PM. That is a a must watch event at at this point in time.
I also just want to quickly, I'm sharing this Alex Bell Belidus tweet here that David Sacks also reposted. And one of the reasons why I really like the announcement yesterday is that it's basically flood proof, right? They're not using taxpayer dollars. They're going to keep what they have and then evaluate ways to potentially accumulate it. That's not going to cost anyone anything. And like, like, how are you
going to flood that? Like, unless you just hate Bitcoin in general, But even if you hate it and don't believe in it, like it's not impacting you in, in any way. And they also addressed the other assets, which was the the biggest reason why a capital CT turned Max Baer on Monday 'cause it was crony capitalism. And they said, hey, no, we're not going to buy any of that. And yes, we're going to have a stockpile if we seize it, if anyone forfeits it, we're going
to keep that. But but hey, we're we're not going to go out and buy it. I am curious what what that means for some of those other assets like XRP. I would short the bucket of XRP and ADA like yesterday there was like the best OP like people are trying to short Bitcoin, like Bitcoin is like the most strong asset here to own, obviously because of reserve, but XRP and ADA that have been paying their way into the the White House. But that's a fact, right?
Like through lobbying and and XRP especially etcetera, it's those coins, they're not specifically said we will not be buying tokens in the stockpile. And what people miss is saying that the treasury could potentially buy Bitcoin. So it's like So what? So we were bearish on Monday we meeting timeline because it was going to be a stockpile of
multiple assets. Then we got confirmation to executive order that Bitcoin is going to be held and can be bought and that other assets will not be bought and were still bearish. Like honestly like it's starting to piss me off. Like I just don't understand anymore. I'm so confused. I, I had, I had to write, I had to come out and write a post yesterday. Like I, I saw people bearish on the concept of the reserve and how it diminishes Bitcoin or or or perhaps changes the initial vision.
So I shared some thoughts. I don't understand it like ADA is a great looking short here. Like why? Why would it not just reclose the gap from from 60, especially we talked about the bears tailwinds from Besant. So like if you already think the market's probably going to be in for a period of chopping decline anyway, then shorting some of the assets that pumped on what is effectively fake news seems
fairly interesting here. And I'm not really a guy who goes short too much, but that's something that I'll take a look at for sure. I don't know how much longer we have you on, so I want to make sure we hit the myriad news, huge news, myriad money markets are live. We've got 33 markets out there. You bet with USDC on abstract on the Myriad app we've got will pump funds cumulative revenue exceeds 615,000,000 by the end of March.
Fear and greed index at 25 or above on March 10th and then the UFC fight tomorrow night prayer versus on club, which is a pick em. So very interesting fight to start with. Fear and greed index was the the market that I that I went after first. So I have made my bet disclosure, I'm on the yes side got in around 54%. So I'm up, I'm up and I still 30% here. I checked in on that fear and greed index. Yes, generous line, huh? That's the generous line on the 25.
Are you, are you on any of these broke? I'm so I, I can't, I can't take the bets here right now, but if I were to take them, I actually the fear and grid index. I actually don't know about the 25 bro 'cause I know we went to 36, but that was before last night's mega bearishness like that. That was before the dip that the fear and grid index reset, so I wouldn't be surprised if we're back in the 2025 range I'd like. It's very possible, yeah.
And markets may nuke and real quick rollback code is markets today, folks. There you go markets raffle ball dot XYZ get get we're doing 2 spins right. I'm gonna I'll I'll stay for the for the spins, but basically like I, I don't know I, I, I helped pick this market for the reason that I thought 25 is the perfect middle ground. So I have no idea. I I want to say over, but it, it's so weird. It's so tough, you know?
I want to say I like my side, I like my side on the over, but we have to fade a big market sell off today and like a total sell the news event in the summit. What do you think, Logan? What do you got? Yeah. I so I also can't use the markets, but I think I would, I think I would be on the over. I think I'd be on the over as
well. What already like healthily above at this point in time, I can't imagine, I don't have anything to support this, but I can't imagine the fear and greed index moves that volatility on weekends. But that's that's totally anecdotal. I have no evidence to support that. That's me making that up in my head. So you have a few days. Remaining let's study last weekend Friday last Friday was 10 and then it went.
I think guys, you're right Logan, usually if your reading next is not supposed to be volatile by the way, it's not supposed to be. But last week, remember we went to 78. It was last Friday 78 K Bitcoin, right? Fuck this market man it's insane. I think it was. So last Friday we went to YEAH, because the Friday before that was 99. Yeah, March 4th. Well, that was Monday, so we were 84 K like this time last
week and rebounding. Yeah. So it was 10, the fear and greed index, and then it went to 30 something, then it went to 20, then it went to 15, then it went to 24. Like it's been thinly volatile. It's not supposed to be. But I think you guys are right. I think I think the over is probably going to hit here. Yeah, I don't know, man. It's an interesting one. Jump 9 points in a day. I guess I was just expecting the moves to be a little bit. More gradual you're.
Not supposed to be. It's not supposed to be like this, but this is how fucked this market is. These are very. I mean, we got the US signed a strategic Bitcoin reserve yesterday. So that that should alleviate fear a little bit like 1. Percent of the total supply is owned by United States of America and people are bearish. Yeah, it's it's absurd. I like this pump fun line. I have not bet on this. I'm I am going to bet it. I think I'm going to take the
under on this. So you're basically it's, it's the line is will pump funds cumulative revenue exceed 615,000,000. I think it's already at like 580 or something. So you, you do the math, it's basically are they going to come out? Are they going to keep their, are they basically are they going to underperform their local average or are they going to over perform their local average? Is this based on the price of Solana? Because that's another wrinkle as well.
Because that's how they generate revenue. Right. Yeah, but they would earn X amount of soul. And if sold dumps $20 like that matters, you know, So I don't, I don't know the math. I'd have to look at the daily stuff. But there's a little wrinkle in there that might be able to give you an edge. Yeah, exactly. Yeah. You're making, you're making a million. They're making about a million a day. Right. They're making a million a day right now.
So you're betting, are they going to keep that up for the next two weeks? So this market closes on March 25th, but the resolution is from what they make March by March 31st, like the whole month. The reason you closed it earlier is because then it's too easy to game if you go to the end. Yeah, people can like drain the liquidity and we're testing with three different markets. So there's a reason why some of our markets closed before just to keep some uncertainty.
Because we have to provide liquidity for all these markets. It's crazy launching prediction markets in USDC guys is like such a big lift. Like we have to provide, we have to see liquidity those and but it's going to be you'll see where it gets fun and people can read between the lines. But there's going to be a world where like people are going to be able to provide liquidity for markets with AP YS and different things and all that. So this is going to grow like
this. This is just the beginning. I'll take I'll, I'll take the over man, because it's the end of March you're seeing. A little rebound. They're making a million to million three a day. There's quite a lot of days left to March 2124 days to 20 I and all you need is 1 runner for them to really cook or like a meme, like a please moment, right? Like we're like there's a million of them.
And if the end of March, you said one of your quants is seeing some pumps at the end of March, Tyler at some point or something like that, but I don't know, I'll take the over. My M2 quant says we're going to bottom on March 25th so. If we the bottom, then you have a week of degeneracy left in March. I'll I'll take the over. Here, I'll take the over. Yeah, I like the over too. I think we are at like near peak pump fund FUD and token launch FUD and you know, just exhaustion.
And if there are still like close to on pace like Farooq said, I think it takes just a few runners and we're starting to see some right. You saw please, I mean it, it's not the same caliber, but you saw please, you saw the grok thing from last night like. Also, what if Frank just decides to come back and stream? Well then like. Get serious. Like that's what I thought about
when we were making this line. I'm like, what if like these guys just what if these guys just like come out of of their retirement in March and they start fucking Jakey and Gigi and stuff. They're going to be daily runs. I think someone was in this grot coin last night. I don't know if folks saw this, this thing to $200 million in volume. We haven't seen that in in weeks. It got to about 30 million. It looks like it peaked this morning.
So it traded all night during the, the demon hours and then it's just been selling off because folks have been waking up. I, I, I didn't touch this one, but I, I was very surprised at the volume. So they did this pool did 140 million. This pool did 48 million, then another 30 million. So yeah, I did it well over 200 million in a day. It wrecked. Please. So please was the, the, the recent darling, please go back up. Is is the mantra.
Man, this is did you see the the senator that tweeted like I see JD Vance's face everywhere. Yes, the the meme is everywhere. In disclosure, I do hold some of this. I don't know what else I do. I this is this is a good meme man. It's a good. The the it's funny, they're still out there. It's light hearted. I have no idea what what's going to happen to the coin folks. And I'm not saying anyone should should go buy it. I'm probably dumb for having some. I like the meme though.
This meme is going to stick around, I think for for this term because I don't have any, but I just it's so funny, man Sorry about. That Where is this coming? From sorry. Fox, come here so. Funny you're good Yeah, I can mute you from here Boom. So far just so just some statistics base for you Logan. Oh, you're back just some statistics for you while I'm at it. I opened the Metabase and we should go over the third market. Oh, it's the UFC.
So we don't really talk UFC. Ferrera and Unclev are pretty good. But I can tell you as a bit about what's next. But there's been 1095 traders officially. So it's pretty big. 1000 people have traded this market, $32,925. USDC traded like that's that's a big deal for us like $32,000 of volume in less than 24 hours. And there's been 1700 trades. So it's pretty cool. Like 30,000 spent $2000 sold. So people are holding on to their thing, which is really
cool. And the fear and greed 1 is really like is the one that's getting the most amount of, you know, individual traders because it's people love short term market. So basically what we're going to do is once the fear and greed market closes, we have another market coming on on Bitcoin price short term 1, which is going to be fun as well. And so we're just going to keep running these like that, like weekly prices and weekly fear and greed indexes and stuff like that.
And then we're going to try and do some fun sports ones within line of what we can do. So then there's F1 next week and what she thinks. So we're texting and it's a lot of fun. So people should get on and and try it. Was your experience good? I hadn't tried because I'm not home, but was was your experience good Tyler? Like the migrating to abstract and all this stuff like was it easy to? Yeah, so the. Whole thing. So I, I, I bridged, I bridged capital and then made the bets.
Like you go through a few approvals like your first time. So like there's, there's like the abstract approval messages you kind of got to get through. But once you get through that, it's, it's clean, it's quick, Make your bets in seconds. So I was just saying we, we're going to be rooting it on for sure. Wow, we're only a few minutes left in the show. Wow. We, we really, I'm, I'm happy we went here. A couple other stories are quick.
You want to hit on Gito has a new proposal for buybacks that that's the headline. That's basically what you need to know. Buybacks are hot right now. We know what what kind of impact that can have the tokens. So, so keep an eye on that. Logan, you've been you've been following this Solana vote that goes Live Today. What's the quick TLDR on that? Yeah, it may have an impact on
Gito as well. So there is a proposal, it's supposed to go live later today, but basically to change the emission schedule of Solana inflation more or less, right. So right now it's based on a fixed, it was set I think in 2021 or maybe even earlier than that. But a fixed supply emission schedule, they're looking to to move that to a more programmatic dynamic emission schedule, which would change based on basically the staking participation.
So there's a lot of big technical words in there, but more or less changing the supply inflation, you'll see plenty of opinions probably if you're following. Yeah, totally. And others about the pros and cons on your timeline. So, yeah, but don't know too much about exactly my read just based on, you know, consuming a lot of this is that the support outweighs the dissenters.
But we, you know, we don't know for sure until the actual vote takes place, which is expected to take place a little bit later today. I don't think it'll close today, but we'll get a better idea of if people want to reduce this rate or not so. Seems like I'm I'm reading this. It seems like Tolley's pretty for this. Yeah, I think so, based on I actually reached out to ask him for a very specific answer to that.
Not received a reply yet, but based on his tweets and retweets, it does seem as if he is pro SIM. It's called SIMD, which is Solana improvement proposal more or less 228-0228. So I think he's pro. One of the things that's written, you know, just to tie it into the Jido thing and maybe why that's important in addition to the buybacks is one of the the pros written by the authors, 2 folks from Multi Coin as well as one from Anza, which is a Solana research and development firm.
One of the pros is that this this may increase Solana defy activity. So if I activity, I mean Gito, of course, major player there already. But yeah, I I encourage people do it to read the original. I mean, it's not that it's not that crazy long. It is a little technical, of course, which is a just waiting for, you know, folks that may be just active salon of
participants. That's one of the biggest questions that I've asked to these folks who have provided opinions on it is like explain to me why this matters to me, a non staker. You know, you should know that of course if you're not staking, you're probably you're losing a little bit to the inflation. I think most people recognize that. But like why does this matter to just the average Solana participant? That's an answer that I'm trying to get from folks.
I've not received 1 yet. TPD but less self pressure. Right, less ongoing self pressure. Potentially, right. Exactly. Yeah, things like that. But I'd like to hear it from I'd like to hear from them so. Yeah, if you look outside of the casino, there's some good stuff going on in Salon on the line like Pith and Cheeto, and one of these teams are really good. For sure. So that's going to be A and. Solana's holding strong too dude. Like I've been looking at Solana like daily.
Like every single time it goes down to the low one 30s it's been up screaming by like I did it once and it paid well. I missed the last one but I think I'm just going to keep running this back. Like every time I see 100 and 27132 dollars sold. Just fucking Max bid. Sadly you have to sell every time it goes to like this range, you know. Yeah, it's like it feels like buy, buy the one 30s, sell the 160 until we. Kind of, yeah, like I'd say 150 bro, like with that one 5153
range is nasty. Yeah, kind kind of feels that way. What else? We're not gonna have time to give this justice, but this new New York bill aims to protect investors against rug pools. So it's gonna be very interesting how they define that because it's a very murky world, to say the least. So, like, what will have to have been promised? What minimum actions are required to avoid a rock poll? Logan, did anything come out of this?
Did you have a chance to dig in? So I looked, I looked at the I'm sorry, I I looked at the bill real quick. There are some wonky definitions in there as well, right? There's some stuff about non disclosure, like punishing potentially for not disclosing, you know, which I think most of us are supportive of, right? Like not disclosing and shilling basically is what I'm alluding to. But there's some details in there about developers and how
much supply they own. And it'll be interesting to see more come from it and hopefully a bit more clarity around exactly what those details are, which I imagine will be sussed out if this moves along. But I mean, I think most people are all for all for protecting investors from things like this. Like we, you know, we don't want the the on chain crime, despite, you know, perhaps seeing pleas for it previously.
Well, the the the good news. Well, in this new digital asset stockpile world, if there is crime and the US government confiscates. They're going to want to fuck on a Libra. Huh? I saw that tweet from dude. That's like cackled bro. Yes, that was that was a. Great, that was a great tweet. So you know what the the move is, is you launch a token, you commit crime, you have the government sees like 80% of it.
So it's low float, high FTV and then you let 20% trading and then what you know, you, you go hang out with SBF. Apparently Dee Dee is very kind to him, you know. That's yeah, that that's the new meta. And and Speaking of crime, SBF somehow landing an interview from prison. It was a strange interview. I listened to the 1st 30 minutes of it or so. He, he apologizes, but basically he's kind of saying like we had
a good thing going. He blames the bankruptcy lawyers for selling everything at the bottom basically says we we would have had 90 billion in assets if they wouldn't have done that versus 17 billion in liabilities. Of course, that's like that's assuming that they didn't do anything else shady or take any other bad bets over the course of three years, right? So. He said I, I believe I read the decrypt article Andre covered for us. He said I'm not a criminal.
He's pleading what? Non guilty, right? So he did say that specifically, though. Tucker Carlson was like, the DOJ thinks you're a criminal, you're in jail. He did say Denny's been nice to him. Yeah, he said that so it doesn't get looped up. After that interview, he. Hasn't been beaten yet. Yeah, dude, that's crazy. I didn't watch the whole thing. I watched a little bit. I just, he pisses me the fuck off. Like I'm sorry. Like I I was asked. I was talking to Sandra yesterday.
I was like, have you ever interviewed someone that you despise? And he said, of course, and I'll have as well. But I wonder like, at what point do you break that? And you're like, yo, fuck you. Like I feel like if I were to interview, SBFI would do well, but I'm afraid that I would like at some point just like breakdown. Like I really despise this guy. What's the problem right if someone listens to this who does not have a deeper knowledge of the situation?
They think he's a good guy because he's so good at he's so surprised. He. Sounds very, he's weird. He sounds very childlike, like he has this like, like if you don't know anything about him, like he comes off as like this innocent poor little child that was put in prison. He made the wrong like he made the wrong mistake. But he's got good mommy and daddy. But he's he's evil. He's really evil, you know? And he like didn't.
And all of a sudden he's Biden. You were telling me that he walked back all the Biden stuff, right? He did, yeah. So he basically said yes I donated to Biden but I was secretly donating to Republicans and then the Dems threw me under the bus basically is what he said. So he he's clearly doing this apology tour to try to get pardoned. Let's hope that doesn't happen. I feel like it's non zero that's
going to happen. For one, just the fact this interview happened makes me think it's it's non 0 at this point in time. So we'll we'll certainly see it's 10 around the hour mark. Brooke, I know you've got a busy day.