Good morning. Good morning GMGM folks. Welcome to another episode of SOMO. Our day that is Wednesday, February 12th. We are off to a violent start in the markets here. This morning CPI came in hot, real hot. Markets didn't like it, started puking. Looks like we're starting to see a rebound. My moon quant My moon quant says we typically bought them on days of full moons. Guess what? Full moon today, Snow moon. So who's your moon quant? Oh, I have a few. It's not just one.
I've sourced them on on crypto Twitter. Oh, OK. And so this is like this is the new Mariam, was it? What was that was her name for? Yes, very similar. So they really first got my attention back on the January dip and the full moon marked the local bottom in January for the third consecutive cycle after in a four in the four year cycle coming off of a new presidential election, the full moon marked the bottom in January and the full moon Kwans called it and they, they called, they're
calling bottom today as well. So when my moon quads speak, I, I listen. So that's, I'm ready to go full on. What we don't know is where the bottom is today. So is the bottom already in? Is it going to come later this afternoon? We still have about 14-15 more hours left to try to figure this out. Yeah, I'm market definitely didn't like. Well, to be fair, the market just continued the trend that it's kind of been on, which has been, it's basically been a downward trend since the 28th of
of January, right? I, I don't think today's enough to, to like freak out at all. Maybe that's like what the overhang was a little bit, but we've kind of had this sentiment from Powell for a bit here. You know, we're going to wait and see. Data dependent. No, no rush to cut rates. I think the market was only pricing in one rate cut this year up until today. So and I don't know what it is right now, but this isn't this isn't like shocking inflation has been going up slightly.
It's not like double digits or anything like that, but we're talking about like 3% rather than 2.6%, you know, so like more like a manageable increase. Let's say the Bitcoin went down to 95 K. That's kind of where it's not really where it's bounced, but like it's, it's seemingly
bouncing around 94 K here. Obviously, the main bit of resistance here would be between 90 and 92 K where wherever we've been like wicked into that, into that region, we've bounced fairly aggressively off the back of that. It feels as though we're just kind of in a bit of a no man's land here. Although I happened, one thing I did I did pick up on today is that funding rates have kind of gone negative across the board or for a lot of assets.
A lot of altcoins are being heavily shorted in this market. Heavily shorted. You can see it because funding rates are negative. Yeah, pretty much for I would say 50% of the alts that I'm looking at, funding is is gone negative. So particularly in memes, particularly in AI, people are people are adding to shorts. Yeah. That that feels like the the consensus that that I see on the timeline. So what could go? What could go wrong when everyone piles in short, after 80 to 90%?
Right. That's what I kind of mean. It's like I, I definitely think that that the, that, that's a risky bit of the market to be piling into shorts for. And I think one good piece of news, as we kind of saw with ARC and A16AI16Z and and Fartcoin yesterday, like you can get big, big Wicks. So my general sense is if we see some civility here, and I don't think, I don't think Bitcoin's going to go down much lower here. I think I think you'll see a decent bounce today.
I actually do like I'm buying today because I think that this is this is a little bit of a local bottom. Maybe Mando is my new moon quant folks. You, you heard it here first. He's he's aligned with the moon. The literal moon boys. I'm aligned with the moon boys, yeah. Fantastic. Well, I want to get into your market report here in a minute. We'll definitely talk about that Today.
We're going to talk about Trump appointing crypto friendly quintens for the CFTC Chair. Jason Calacanis wants the SEC to ban meme coins. Hester Peters says no way. She loves freedom and the SEC isn't touching meme coins, so rough day for Jason the Trump family. WLFI has rolled out macro strategy, so we'll talk about that. Dave Portnoy's roller coaster continues and choose Rich. Nick claps back. We might have to play the diss track later on.
Big day for Myriad and there's a few meme and NFT headlines. There is a lot to get into before we do. Shout out to our partners First. Galaxis Glasses is a Web 3 platform empowering creators and brands to build unstoppable communities with full ownership and independence, trusted by icons like Donald Trump, Steve Aoki, Mike Tyson and the NBA, shaping together the future of engagement and everyday we see
people's walls get drained. Fairside is about to launch the fair alternative to insurance for crypto scams. Check out at fairside network on X. If you get drained, you won't get wrecked. We love our partners shout out to them. All right, Mando, let's get into. It can you dig it GM everyone. So I think we kind of just went into a little bit of a brief overview there, but the core inflation came in nought .2% above expectations.
Inflation came in nought .1%. We are around 3% inflation down from kind of two and a half 2:00-ish towards the back end of last last year. Majority of the inflation seems to be coming from from shelter. I don't know, like I don't think the Fed's going to do anything on the back of this. Like 3% is not won't, won't make them, probably won't make them cut rates, but it's definitely not that aggressively higher than than their like long term average.
The long term average inflation is like 2.6%. So like we're just kind of hanging around that sort of level. It'll be, I think the main way the Fed would turn on QE is if like these high rates cause to some sort of stress in the economy. Because for now it just feels like inflation is going to stay a little bit sticky around this around this 2 to 3% area for for a little bit here. The market didn't like it. Well, it hadn't been liking it for a while, right?
Ever since ever since the yeah, I guess late, late to mid Jan, we've been in this kind of downward trend. This kind of takes us back to sort of the levels that we saw about 10 days ago on that Wick lower. But but I do think it the market sounds like a little bit oversold here or like I'm starting to see some. I I would say this is something to look like exhausted sellers
sort of market like. I don't that sort of a figure that we saw isn't really about like isn't going to change the needle much for me. So if things are getting absolutely smacked on the back of it, back of it, I think that's the sort of market where I would I would look to buy. So that's what I'm doing today. In case you're wondering, the there was very little in terms of majors news apart from like it looks like we're heading closer and closer to ETFs across
the board. Solana, the CSSEC has asked for public comments on a bunch of different solid ETFs. So people getting bullish that that could happen relatively soon. It sounds like they're going to be acknowledging the XRPETF tomorrow as well. There is a like a in terms of the states, it looks like Oklahoma has got some sort of vote on the floor around this Bitcoin policy. I don't there's 2122 states which all are trying to push towards a Bitcoin reserve at the
moment. So we're going to hear lots and lots of headlines around each individual state. But it does feel as though some of them are getting relatively close. Powell was was kind of similarly, I wouldn't say bullish, but but less aggressive towards crypto. He said, look, we're going to investigate the DE banking. We don't want to have a CBDC and he said we should get stable coin regulation, which is kind of what's seemingly has been happening more recently.
So he seems to be less aggressive towards crypto, which is, which is a good move and does look like interestingly the one of the A16Z executives is going to take a position at the CFTC. So yeah, pretty, pretty decent role there or decent change from Gensler to some from A16Z in terms of a macro, macro stocks, stocks they've been a bit of a holding pattern to the main thing is like Tesla's been going
lower, Meta's been going higher. So there's been a bit of a change over there, but and the dollar has gone a little bit stronger today, but like again, it's they've been kind of treading water for a couple weeks now as well. The only real like mover to pay attention to has been gold, but that's down a little bit today. So not much happening on, on, on macro either, at least not to say that like, Oh my God, Bitcoin should be down like 50% in this environment.
It does look, looks like stocks are down like 1% in the US or like less than 1% nought .5 to to one depending on the index. And then in Europe and Asia, they're down like very, very slightly. So yeah, not, not, I don't think the market's generally freaking out over Kiwi here either. The broader market on the left curve stuff yesterday again was was was more quiet than than the previous few days, Fewer like
daily runners. And it feels as though maybe barstool continues to be or sorry, jail still continues to be like the main token in terms of volume, which just surprises me like 3 or 4 days after launch. But obviously there was this competition for hype video and then you had the the choose or is it choose Rich? Where is he coming from now? Choose Rich Nick like this
video. Other than that, like as I looked through there was this very few I've seen some like light commentary that B&B is starting to see activity pick up again. There was a runner yesterday on B&B. We obviously had two tokens last week that were listed by Binance test and I forget the name of the other one, but maybe we see a bit of a if, if Binance could be more aggressive on their listing procedures. Maybe we'll see something there. You don't really know.
And and as you kind of said, has to Pierce seemingly as said meme coins are likely to be free game. So I think people felt a little bit bullish about that sector for crime or otherwise. But yeah, I would say this has been the quietest day that I've done the minutes in in a while. Yeah, it was a nice recap. Maybe we can work backwards. So I've been seeing the, the, the B&B meme chatter as well.
Interestingly, it's from kind of somewhat adjacent crew who is aggressively rotating as it is. So I don't know, I'm, I'm kind of in the indifference camp right now towards memes. I'm a fairly active meme trader, but I got in trade yesterday and it, it felt kind of refreshing. And I look at the Solana board this morning and I don't feel like I missed anything. And I hear chatter that, OK, some folks are grinding on B&B. That's great. But that also just kind of feels
like a trap. Like we we saw that with like the Tron memes. We've seen it before. I know like B&B had a meme season in 2021. People keep reminding us about that. I don't know. It doesn't seem like we've got crazy volumes over here. Like the leaders are doing, 20 to 40 million. Captain B&B clearly the winner, up 100%. I bought I bought a new meme for the first time in a long, long time. Wow. Yeah, on which I bought this, this relaxed dog. Thing.
My sister, my sister sent me the meme and was like, it sent me the meme in one of our group chats, which I then used as a meme. And yeah, this, I don't know. I just vibe with this dog man. I was like, I actually like this, this. I miss the days where you see a meme, you like a meme, you buy the meme. Do you know what I mean? It's like, Oh, this is actually a good like, do you know what I mean?
I felt good to be like, I'm in this coin, in this coin, because I like that that dog rather than which, which, which which pump and dump fucking Kol is in this one and or which celebrities going to come in and and launch a coin or Internet capital markets. This just felt like a bit more pure as a as a meme to me. So.
So I, I'm laughing because like I, I have buddies in my trading group who bought this and I was like telling them not to because it was the same, It was the same KO Wells who've been like, so literally, I'm, I'm going to call Wiz out here. Wiz has been pounding the table, telling everyone that they need to aggressively rotate and not hold any more than an hour. And then last night he buys the relaxed dog. He says, no, I'm going to hold this one. I'm just going to relax and hold this meme.
That's the point. It's just there's something about this at this time of juncture where I was like, you know what, I quite like this. Like very, very chill. Just it gave me chill guy vibes so. Just incredible. Things which went down to like fucking zero, but but like, that was the that was the first time I was like, you know, this is a meme. I like why can't we just buy memes that we like anymore? That's what. That's where we started. That's what. We're and I cut I I cut it was
interesting. I saw a tweet from Dees yesterday, which was who's, you know, director of vibes in his time. He said something like the ebb and flow of rotate out of this bag ASAP and believing in something is natural when everything is everyone is doing one thing and it becomes common knowledge as the most plus EV strategy. Usually a decent time to to look on the opposite side of the spectrum. So I think what he's saying there is that everyone is doing
the hyper rotation. Maybe it's time to buy some stuff that you like. Wow. You vibe with a little bit more and I kind of felt that when I saw that, I was like, yeah, I think I, I kind of agree with that too. Like if you like, if you like the vibes of a project, maybe maybe that'll be the runner. So that's what that's what I bought as well. Maybe relax is is going to is going to make it here. Oh, it was a good sales pitch for sure. It's just a dog. To be.
Clear, which which looks like it's it's chilled out, but my my sister who's big on TikTok, I think our family brought to him. Incredible. Well, we're happy to hear that you are back in the trenches. Maybe I want to pull back a little bit. Appreciate your commentary. You kind of said that you feel like the bottom is in. You said you're bidding. I'm buying today for sure. This is this is crazy. What are you bidding? I, well, I bought a decent amount of of JLP again
yesterday. I bought some, I bought some fart coin. I'll buy, I'll buy bags, which will remain nameless and radium. I bought a decent amount of so just just just stuff which I like. I'm not bearish today. If, if, if someone's telling me we're about to go down to 92 K because of QE, sell all your high risk stuff. Like I don't think that's what's
happening today. And I think the people who are doing that are the ones who've lost 90% on that coin or, or like have been wrecked and are now trying to like get that last gasp of a three to 4% move in Bitcoin. And actually they can get their faces ripped off because everyone's short seemingly. Like you can see it, you can see with negative funding across a bunch of old coins, like you can bounce quite aggressively, but. Yeah, well, I like that.
I think a lot of these like radium looks like it's kind of been tapping off of this level. So that feels like a decent entry. What jumps out to me, I'm a I'm a I'm looking for the pump fun stats here. Like anecdotally, like I look at the Solana board and it feels like the trenches are kind of a ghost town. Like there's a handful of runners per day. They're not even going that high.
And then I pull up the stats and we're, we're we're effectively at all time high launches still like we're not low off top, but we're still at 50,000 tokens being launched per day. And it's like I'm, I'm like disconnected from this sector of the market at this point. Because if you would have asked me, like my gut feel how many tokens are launching today, I would have said we're back to 10 to 20,000 like we're we're back down here. But like that's clearly not the
case. So there's clearly like these syndicates out there. I'm seeing more chatter about this, maybe this is tinfoil hat, maybe I'm out of out of out of my bag here, but that these syndicates are effectively just just industrial pump phone launches, launch launches at this point. And the data kind of backs that up, right? Like how are there 50,000 tokens launching per day right now? Like there's, there's no buyers for these, but like where I'm going.
Though that's the point, like people just play the daily runners that like there's no one was holding anything else. All the money that was in all the other slamming coins is just is just now in Seoul or stables, right? This is the this is the reason why it just doesn't feel like the top to me. Bitcoin is not falling out of bed. Like, yeah, it's hanging out around 100K stable coin supply just keeps on going higher.
And like you said, like all the all these, all the different metrics around activity are staying really high. So like Dex volume has stayed high, active addresses has stayed very high and new launches of meme coins have stayed very, very high. So we what we've just seen is just like a re, a rejigging of where people want to hold value. That's all it is, at least in my opinion. So we're not at indifference. The trenches are not indifferent right now. Not not.
That's not what the data is telling us. No, the trade, the trades are active, right? Yeah, they're, they're incredibly active. Is this our new normal? Like do you, do you think we revisit August, September lows for, for coin launches per day, 10,000 per day or do you think we're just in a new paradigm where the, the minimum threshold is just higher now for the foreseeable future? I think the minimum threshold is higher. That's what I think.
I do think that that what Dee said there makes sense. Like it's now consensus to sell everything, you know, and the people playing that I think can get, you know, may not see the best returns even now because it really is just a case of hot
potato for an hour. And I think I actually think something like these might make quite a lot of money in the market like this, because it'd be like if he can pick a good vibes project, you know, or like there's an artist come through and does an artist coin or you know, you know what I'm trying to say like there's a coin which.
It's always like bragging when when everyone is zigging like that's the only way hit the big wins like you're never going to hit the big win trying to catch the runner of the day when everyone who like when all the pros are doing the exact same thing as. You just relax dude. Relax, coded, Relax. We'll see if this damn pain token comes at any point that we are. As the days slip by, I think we are more and more at risk of time rugging the relevancy of this pain meme.
Yeah. So we'll, we'll see like if, if the trenches turn around and are no longer in pain, I don't know. I don't know if it's going to perform. As well look at the market. What happened? Bitcoin back to unchanged on the day. Everything. Everything's going, boys.
We like that. Back. When I looked at stocks right before the show opened, it looked like everything basically gaps lower on the open and it was just going straight back up. So I could just like you said, like this really wasn't much of A headline to to to get worried about. We're buying today, folks, we're buying today. Where does it feel good? All right, let's see what else is going on.
So we had Cal Santis. If folks aren't familiar with Jason, he's been kind of like a, a foil for the broader crypto space I'd say for for several years now. He's I think he's the one who who famously told everyone, if you're in crypto, pivot to AI effectively at the bottom he does. He did the All In podcast with Sax, who is now our Cryptozar. I think Sax is officially off that POD. I think he came back. He's on, well, he's on like as a guest kind of most weeks.
Like he hunts up like an hour or half an hour something. Got it. So it's. What I knew What's that pod it's. Good. Oh yeah. It's a very good pod. That's it's a long conversation. They got a little propaganda E in 2024 it became a very political show. Yeah. Oh yeah. Very political.
Show still in general good macro show but now we have to listen to what Jason says a little bit more because he's in Sax's ear even though Sax is probably just going to dismiss him but he says just ban these stupid fucking meme coins to. Be clear, he said that live on the show Last week, David Sachs came on and he said, are you going to regulate all these meme coins? And so what's Sachs say?
No. It's actually a really good show because David Sachs does come on there and actually just speaks about government policy around crypto and AI each week. So he gave a real like a really detailed description of what happened with the whole press conference that he did, you know, like why it was needed that those four heads. It's so weird that there are four different heads, including like the Agricultural Commission or whatever it is that needs to
be involved in this. And he said, like before, before him being involved, it's been impossible to get them all to agree that we need to push crypto forward. Like one of them was always like, no, we don't want to do it. So that's why he said it was such a big deal because if you're not in Washington, you don't get like, it's just been impossible to get to get cohesive policy where all everyone's trying to push in the
same direction. And he even spoke candidly, like I know people maybe were expecting, you know, a bigger announcement that we're going to do some sort of Bitcoin reserve there. Like it it because he is now the Cryptozar and he speaks very candidly on that show each week. You should, you should tune into it because you're going to get a much better, clearer picture of, of, of what he and he, he pushed back on Jason. He said no. He basically said no. For that question, that's a good
tip. Well, I'll definitely get back into my weekly listing. I'd fallen out a little bit. I didn't realize Saks was still making so many appearances. So. Yeah, he he dropped out completely for a couple weeks, but now he generally comes back on. OK, yeah, well that's going to be must listen every week it it is funny to see Kyle Sanchez continuing to to double down on this. It's also funny that Hester Pierce and see if I I don't know if I have the article up. What does he care?
So genuinely, why does he care like the one bit about crypto where literally everyone's just everyone gets right that it's just as Hester Pierce says, like you guys are big, you guys are adults. If you want to play in this market, that's for you. You know, we're not going to come in and protect you. So like just just have that response. Don't be like we need to ban them. Just like that's the response you want to play in this market, you can lose everything.
You can lose everything and nobody's there to save you. You know what was even funnier is just hours after that he's retweeting a parlay card that. He lost. Yeah, exactly. So he's firing up 16 to one long shot bets, 20 to one long shot bets, and happy to tout that while just a few hours after saying we need to ban the meme coins. So, Jason, we're not going to take you seriously. It was fun.
Just the timing that Hester Pierce also said that she loves freedom and the SEC is not even going to be looking over meme coins in the same day. Looks like that will be likely under the CFTC if they pick it up. And now we've got the head of A16Z crypto policy, Brian Quinton's heading that up. So we will certainly see what that means for the meme coin market. I think the other piece of big news was out of Trump's world Liberty Fi. Yes, I think we've got to
briefly touch on this. So they announced their own macro strategy. So Saylor has retired micro strategy and that the Trump brothers are now picking up with macro strategy. They're effectively launching their own token reserve, strategic token reserve. They name dropped Bitcoin, Ethereum, and then they left the door open for other cryptocurrencies.
They've said why they're doing it to enhance the stability of their protocol, foster defy growth, help build trust with their community that they are effectively aligned with with bag holders. And they're also the second part of this is their partnership with traditional finance institutions and bringing real world assets, tokenized stocks, securities, bonds on on chain, which was if, if we think back to when World Liberty 5 launched, that was the original
vision was real world assets. I won't even say that going into real estate, it seemed like their vision was they wanted to do real estate on Jane and they were kind of using D Phi as the path to to get there. At least that was my read. And then we've we've kind of gotten thrown off with them, you know, in the past couple months just actively buying and accumulating crypto tokens, but it looks like they're doing
both. So, so they're building up their reserves, Bitcoin E others you can kind of see, you can go through and look at what other tokens they hold a few RWA tokens like Ando is in there. Are they a few of the D5 tokens as well? And now they're they're partnering, they're going to continue this partnership to bring real world assets on chain. So I don't know, it feels like pretty positive momentum, a positive update. Do you have any, do you have any
read on this Mando? Does it matter that they have their own strategic token reserve? Yeah, for World Liberty Financial, I just, I'm I've since the start, I've been less kind of bullish on that entity in general. It just kind of feels slightly griftery like they're just trying to do whatever they can to to make money. And it's not it's like Trump adjacent rather than like Trump feels like, Oh yeah, we're going to try and do defile. That didn't work.
We're going to do this like, and now they're doing a MicroStrategy style, but MicroStrategy works because they they borrow billions and billions of dollars. I don't know if World Liberty Financial is going to be able to do that. And seemingly they have like a you scratch my back. I scratch your policy where like people have to come in and buy their token for them to buy the coin, which sounds like bribery almost to just like get a political endorsement of a coin. So I'm not, I'm not.
Well, Liberty Financial for me just feels kind of on the edge of grift. They they might like their they kind of legitimate, legitimate because it was Trump. But if if it wasn't Trump, then it'd be like, yeah, who the hell are these guys? Well they wouldn't be able to complete the raise if it wasn't for the Trump meme coin launch, right? You know what I mean? And they they launched it just after the Trump meme coin. Like, it just feels like a kind of a bit of a slush fund for the
for the, the Trump sons there. That's fair. I I do wonder if there's any signal in the assets they're buying which perhaps might be included in a reserve or a sovereign wealth fund. Do you think that though? I feel like maybe that does mean that like, but again, that just kind of feels, it feels as though their policy is explicitly like you buy our coin, it will buy yours. That part's not great. It's just isn't, yeah, I don't know, maybe that's how you get your your your ass on the US
like reserve list. I don't know. I would like to think that David Sacks is quite separate to that, but. Yes. I mean, the sovereign wealth fund is probably where you would have a better bet because that feels like it's a little less overseeing perhaps. Yeah. But again, we will will see a few other headlines as we look to round this out tighter show here today. You mentioned jail stool, quite the rebound for Portnoy's token.
Yeah, wow, look, look at that. I didn't realize it got back up to 82. He's done very well in keeping people people's attention. It's the Crash game. It's the Crash game. Let's see what happens. And then he like he, he fudged one of his trades yesterday. He basically lost like 200K in slippage, right? So this isn't pumping because he's just buying it all himself.
A part of my core thesis going into this was that the longer it lasted with him continuing to talk about it, the more bullish slash Lindy it would be. And of course, Lindy's tongue in cheek here. It's four days old meme coin ran by Dave Portnoy. But it does feel like the market is kind of responding to that. I think there was always concerns the first day or two. Is he just going to sell this? Is he just going to abandon it? And every day they talks about
it more. It it seems less likely. On each of those points. We got to quickly show the the choose rich clap back video. Probably won't play the whole thing, but Nick did do a diss track aimed at Dave. Let's see if we can play it. I got to give him credit A plus. You couldn't hear that, by the way. You couldn't hear that? No, I think. The space could, but we couldn't. Oh, sorry about that. Oh, I would have. I would have cut it sooner. Apologies to anyone who couldn't
hear that in the stream. Nick and Dave's beef basically started like two or three days ago. So they they turned around the video in in two days. Very well, very well done, well produced still still got me on a handful of those lines. I love PO weighing in. So it was good. We'll we'll see if Dave claps back here today, he may not care. He might just be watching his wallet balance go up as jail stool continues, continues to grind up.
So it's still kind of the leading attention point again and LED LED volume on Solana yesterday. We'll see if anything is able to displace it. Maybe it's relax, who knows. This this Duo coin tied to Duolingo got to like 10 million. There's not really a whole lot else going on in these streets. The AI tokens so we can pull up quickly. Look at the AI board. I think it was mostly chopped or some dip from yesterday.
Let's see how far coins holding up at 52 cents ARC 280 million down from local highs down about 10 to 15%. AI16Z is down a little bit more. So I think the next couple of days are going to be very interesting on these AI tokens to see like do we really have new bottoms in or are these still pretty shaky or not? And I don't know, I'm cautiously optimistic that perhaps we put bottoms in on something this house sold in sold back at 19350.
All right. So I think as long as souls up over 190, I think these should be at least all right, where where we get things get dicey as if soul goes back to sub one 85180. I think that's where we probably revisit bottoms on, on some of these tokens. That feels like a good level to consistently try and buy Solan Air if I'm honest. 180. Yeah, around that level I reckon. Makes sense this MLG. Did you? Were you following some of the the drama with Aiden Ross and and Frank degods?
Yeah, but I mean, that's been drama for a while though. No. Well, I I thought that's he like tweeted out like the day afterwards, like basically like this guy dumped on me. I don't know, did he dump? Like somebody told me that someone had sent me like somebody had sent me like wallets but but like I have no idea. Frank said he didn't.
I think most people he didn't, but I think it was on Aiden Ross's stream yesterday or the day before that he was kind of calling Frank out, saying he doesn't vibe with them and clearly he's not happy with the price action of MLGSI think he's not happy. With the price action, yeah, You know what I mean? Like if the price is high probably still he wouldn't he wouldn't care. But I don't think I think what thread guy said was probably the
right thing. Like you don't buy if you they shouldn't have made him buy on stream. Like it's for this like weird event for that token. I still like that coin a lot. Can. I ask if you still like it. I yeah, I feel like it's it's lost some of its luster. Well, obviously because the price is low, but I but I I also think, yeah, the the the bait Cabal's, you know, they they're getting a lot more flak than
than what they did. But I do think that I I look for coins like that where it's like there's a different audience, you know, it's a different audience. Like UFD, for example, would be a good another good example of that, right. This one feels like a bit more of a, you know, like after that after the dev lost is UFD, it's tough for him to continue to be involved and keep his audience engaged. But this one feels like quite seamless that that a gaming audience could stay.
It feels like it needs to go back to its like core gaming audience and a little bit less stuff like this is the Faze Banks Eden Ross Babe cabal coin. Yeah, yeah, yeah. And if it does that, then I think it can probably be strong again, we'll see. Maybe it's a bias. It's down 75% now from from highest. Those are typically decent buy zones if if you have been patient in eyeing this one. There's only one other coin doing game of meme coins, you know. Yes. Small niche of of coins.
It's a tight. Family it's. A tight family. I'm definitely with those guys. I think they can do well. We will root for them. Let's see other news. So myriad shout out to the Marriott team here First USDC market officially goes live here today. I think it may actually be live so that. TT, not USDC. Oh sorry, first time you can bet with real capital and not just points. It's not USCC, it is the Pingu token. This will be tied to this Diamond Hands poker event. It looks like ours ours.
Truly baroque versus Luca, that's going to be the the the bet here. So you're able to predict who wins between Luca and Farrokh. Play poker. I don't think I've ever heard him say like never heard. Me so Farrokh's 46% Lucas 54. I feel like I might have to apologize to our to our host here. I feel like my money is going to be on on Luca on this one. What do you think? I mean, Faroque is a ferocious gambler, so my guess is he'll go all in quite early on and maybe
the Luxworth and maybe it's not. I can see that. It can add you a little bit more context here. Just because we're drip feeding information this week, there should be 6 or 8 markets out by Saturday. We're going to be slowly revealing all the players. There are some degenerate gamblers, big degenerate gamblers that are going to be in this, some more commonly known faces and names that you'll know that have performed in other poker events and poker tournaments that people have
seen before. There will be a professional player in there that's pretty big within the scene. There'll be a variety of bets. We'll have a lot of head to head and PvP style stuff, KOL versus KOL, if you will. And then we'll have some fun things like anyone, Paul for of a kind, for example. But it's pretty, it's pretty big for the business. It's the first time we've ever allowed, you know, real money markets if you will. This is the first step towards USDC.
And yeah, amazing to see all the systems firing off this morning. Bets have been placed. Were almost up at 200 K wagered on Penguin. You can see at the bottom left hand corner. Yeah, nice. But by Saturday, this will be all streamed and abstract as well. This is in partnership with them and so forth. By Saturdays you have 6 to 8 markets on here. You'll know all eight players that are going to be playing in this. Oh yeah, people just get someone that can Chuck the finger out.
When is the? When is the game? So the market closes at 17. 100 Saturday 12:00 I believe it's on the video and on the graphics. Nice. OK, cool. So folks will be able to watch this live on? They're going to. Be able to stream it on abstract and then you'll be they'll be streaming myriad markets as you put the put it in that banner and header and then people just be able to go on go on betting. Yeah, have a crack and see if you can win any money.
So folks need to be on abstracts on the Myriad site. They need to have some Pingu in their wallet to to be able to to wager. Correct. All right. Well, folks, you heard it here first. If you want to get some action down on Myriad's inaugural market to be here for the beginning for Oak versus Luca, choose your fighter. You will be able to get in on that. I'm going to bet. I'll for sure be betting on this one here later today. I don't. I think that's it. I think we went around the horn.
As you said, it's it's been a little bit of a quieter week. I feel like we we started January with up to like a manic start. Definitely slowed. Definitely slowing down a little bit so folks start to rest up a little bit. Good, good. Everyone keeps talking about how tired they are. I see it, I see that on the timeline. Everyone's so tired. Rest gear up for the the continuance of this golden bull run that might revive any day now. We'll see. My moon called bottom Mando called bottom I.
I'm going to listen to him. I think we're going to end up higher here later today. We will talk about it on well, no show tomorrow. I'm out, Mando is out and the direct event is happening in Paris. Good luck with that. That is going to be a fun one and we will be back on Friday. I'll be back with Logan, back on the show for the first time in a few months. We might try to get a special guest as well. But As for today, that is it. That's going to be our show.
I want to thank our listeners. I want to thank our partners. We will be back on Friday at 10:00 AM Eastern. Till then, go make it a great day. Goodbye.