Yo-yo what up, what up? Good morning. Good morning GMG Tuesday May 20th 2025 Look at that another beautiful day to have a beautiful day. I got my Co host in the house Tyler. Tyler, good morning. How you doing today? Doing pretty well. It's a weird weather here in Chicago. We had like full summer. It's. Fucking trash here. 80°, it's like 26 Celsius. So like it was really nice and then now we're in the 40s and writing again. Terrible fake out kind of feels like this.
This market, it feels like there's a lot of doom and gloom out there. Even with Bitcoin near all time highs. It's weird. Timeline's weird. You know, yeah, the weather here is fucking disgusting. Honestly. I can't wait to get the fuck out of here. It's just not even fun anymore, you know? It's like 4°C and raining all week long. Yeah, you know what? I make enough money to have to live in a place like that anymore.
That's what I had a mentor once. I told him it's like negative gets to -40 he's like, see, one day you just got to make money to not have to live in places like that. I'm so over it. But you know what, it'll be done soon. The pain is going to be relieved very soon. I can't wait. You're right. I mean, the market is interesting, right? We're still in that little choppy consolidation phase. Listen, I wake up and we're still above one O 5. I'm good, you know?
So it's just a it's a funky little phase, eh? It is. I like it. Very little, like there's very little market action on a day-to-day basis. Like there's been some pockets about performance, but it's kind of just like a chop. It's broadly a chop market with Bitcoin like decoupled it's kind. Of yeah, it's, it's very interesting to say the least. Anyway, so those show we'll go through market boy Mando's probably going to join at some point. We are going to go through the
market. We're going to go through, you know, a little bit of this and a little bit of that with Tyler, the given the news that the Genius Act bill passed yesterday. So obviously big news. We'll see what happens out of that over the long term. Of course, we'll do a giveaway. So make sure you set up the e.com, use the code for more. So yeet.com, yeet.com, you have to use the code for more. You have to have a public account and you have to have placed a bet on the platform in
order to be eligible to win. We give away another $1000 yesterday to a lucky rate a coin race winner. So that was a lot of fun. And then last but not least, this show is powered by Wallet Connect Wallet Connect is the connectivity network shaping the future of Ontinux. If you've connected to Web 3 app, you've seen Wallet Connect, that blue logo, it's everywhere and icon of trust in crypto as recognizable as Visa at checkout.
Want to learn more? Follow Wallet Connect on X and Telegram to stay ahead of what is next. Tyler, you take that, you take, you start today. Let's see what you got for US NFT and crypto analysis Tyler T on FOMO, our cause the kids. Can yeah folks, we woke up this morning. Crypto managers were up two to 4% in a rapid comeback from Monday's sell off, but we are dipping a little bit. Bitcoin up 1% here, 1046 E hanging out up 2% at 2480 Ave. LED all alts.
It was up 20% on the day. Huge move as its TBL passed 30 billion. I saw Ave. as 20% of the D5 market right now, so just a massive share. We had the Bitcoin ETFs 667 million in inflows yesterday, one of its highest recent days, so clear demand on yesterday's dip. Digi Asia Corp, one of the latest companies to announce a strategy raising up to $100 million to acquire Bitcoin. Fritz Corporate Treasury Circle reportedly shopping itself around to Coinbase and Ripple.
I think I saw 5 billion as a potential price tag, potential IPO. So it might IPO or it might do a private sale. So that was an interesting twist we had. JP Morgan Chase CEO Jamie Dimon announced that Chase will allow clients to purchase Bitcoin, though he still does not approve himself. So a big development for one of the biggest banks in the world. The Genius Act, as you alluded to it, passed a closure vote yesterday in the Senate after 15 or more Dems flipped their
votes. So it will move forward to an official debate review and vote. So clear the big hurdle there. We had the UK tax authority announced that starting January 1st next year, crypto holders must provide personal data, including tax ID numbers to enhance tax compliance. So more more KYC over there. We had India's Supreme Court say that crypto should be regulated and not banned.
That's what positive news. And then the DoD Department of Justice is looking into Coinbase's recent data breach. So more eyes on that in token AirDrop and protocol news by that became the first crypto exchange to offer global stock trading via USD T launching with access to 78 equities, including majors like Apple, Tesla and Amazon. Solana. I posted about this yesterday. Looking at the weekly numbers, Solana generated more than 50% of all blockchain revenue in the past week.
So Solana definitely leading the way with respect to fees. Excuse me Kaido founder Yoohoo said that from June onwards it will also be the B&B for capital formation so that was an interesting little tease and then Huma finance announced a kind of rewards campaign the latest protocol to to join that wave in AI memes and NFTS. It was a lighter day the AI market 3 percent, 10.3 billion we had distributed AI announced its tge will happen tomorrow. That was an AirDrop plus a pre
sale. So there'll be some attention on that tomorrow. And memes, meme coin leaders were green up about 1-2 percent. Trump actually led the way up 6%. The law, the believe that because it's jumped 20% to 440 million in size launch coin hanging out around 250 million and a notably 24 of the top believe that tokens were all green on the day. So so big Green Day for the launch coin ecosystem.
We had collat at 40%. That's a that's an RWA tokenization platform on Solana. That was one of the top movers on the day. And then the Solana based mean Ponkey, Ponkey Ponkey, they're going to launch collectibles in apparel through a new partnership with J Corp. So that was somewhat interesting. NFTS, the headline was out of SEC chair Esther Pierce. She went on to say that that many NFTS are not securities, including those that will pay their creators overtime.
So there's a lot of eyes on that. But overall, it was a big day, macro news and then a lighter day on the kind of in the trenches protocol side. Wow, it's a lot. Holy shit. We should start with this genius act Bill. I mean yesterday, you know, it's it's I mean it's another historical day on the in the crypto streets, that's for sure. We have about what 1516 Democrats that ended up flipping the votes from no to yes. Elizabeth Warren, an absolute
shambles. You'd love to see that she can take her crypto army right back where she found it, that's for sure, for sure. So why don't you take us through that first and and the implications of it. I saw Eleanor Terrett's post yesterday. She was following that closely. So 16 dams ended up flipping at first word on the street was that it would have was going to be like a very tight race that could have perhaps not even
passed. And then after the initial pre vote, because DC is the only place where you have to vote about a vote, you know, and then once that happened, 16 people ended up flipping to make to allow this bill to pass. So like ticks through that. Yeah, it's a big flip. So for a quick background, the Genius Act is the bill aimed at regulating stable coins here in the US.
This, this bill failed its first Senate closure vote last week ahead of the book that happened last night, which it it passed for the first time 6632. As you mentioned, 16 Dems ended up flipping their vote. The reason that they flipped was there was a a few key notable changes to this version of the bill compared to last week. So one, there's a restriction on 9 non financial public companies being able to issue stable
coins. So this is aimed at big tech, large tech companies will have to go through extra approval processes to be able to launch stablecoins. So this is a provision of the Dems wanted. There's going to be limitations on data sharing by stablecoin issuers looking to enhance consumer privacy protections and of course, even bigger after the recent Coinbase data exploit and then ethical safeguards for public officials.
So this is coming after folks like Elon Musk, a senior executive branch officials making it that they are not able to launch their own stablecoins. It notably exempts the president and vice president from this restriction though, so that Trump's stable coins still still possible via this version of the bill. So those are the changes that was enough to flip this cohort of dens. I think the reason it matters is people are expecting the votes
to stay the same. So if if if the vote stays the same in the official vote, then this will indeed pass the Senate and and move on to that. Apparently it's a walk in the park after this first part. Obviously like you don't want to jinx it, but like apparently it's like first you have this and then you know, the rest is much easier. So big progress. You know, I think it's up for debate on like how big of an impact this actually has. I think staff's kind of brought this up on the timeline.
He had a little bit of debate with with folks in his replies and like, what is the net impact here? And maybe I'm not, I always lean in the camp that this is the type of thing that it, it's not like an immediate impact day one that it's in the books, but it's it's just another hurdle that's removed. It makes it easier for companies
to operate. It makes it easier to invest in building a stablecoin related product, stablecoin integration and it just kind of opens up to a larger group of, of companies and and builders and then just allows you a little bit more Peace of Mind that these will continue to be around and allowed in the US. So still thinking it's positive. Yeah. I mean, it's just like I, I don't even know why we're thinking about like, why would it be positive or like why it matters Like yo, this, it just
helps. It's just another layer of protection, right? It's there today for American companies that's issue stable coins. So they have protection for American companies that adopt stable coins. It's probably a layer protection for the consumer itself. And at the end of the day, like it's just like I, I see Carlos tweet, you know, he's talking about his thread. He tagged me this thread about
his thoughts here. You know, I, I, I like, I think his this is all it needs is. He says the Genius Act aims to bring clarity and safety to stable market, ensuring only trusted issuers operate while foster innovation. It prioritizes consumer protection, financial stability and AML compliance, but it's strict rules may challenge smaller or foreign players. The bills progress through a culture vote suggests it's nearing a Senate vote. Stay tuned. Like that's all it is right?
I think like these things, like I I see stats this point, but I just don't think it's the time to be like tinfoil hat like, oh, what if like is that could that be bad or, or why does it matter? Like does it matter for my NFT bag? No, but I also don't care, right. I think overall, like you said, it's like more of a long term play and you know, maybe it helps protect from the future Luna with like these weird stable coins. Remember what was it called?
Algorithmic stable coin, stuff like that. So back then when Luna happened, like, yo, where's, where's the SEC? Where's the American, you know, government to protect us from, from, from Luna. And now that we have a laws like, oh, why do we have that?
You know what? I. Mean, I think the other aspect of it too is it enables that the proliferation of stable coins allows but more folks who probably more crypto natives to operate on a crypto standard, right where where you actually are somewhat debanked and you're using Bitcoin, you're using stable coins as a way as your primary way of living and funding your lifestyle. We're still not colder yet, right?
We're getting closer, but with stable coins regulated within, with Stripe implementing that millions of businesses, the, the more progress you get there, you can actually pay for everyday goods when you can start paying for your groceries with stable coins, right? Like that. That's the type of thing where folks can actually be totally on a crypto standard. So it's it's a big, it increases the, the, the chance of us going in that direction, which is
again, more for crypto natives. I think a part of status point is like, is this going to get new participants into the stable coin game? That was one part of his his point. And the other thing I think is like, So what, what does it mean for our bags? A part of me still thinks though, that if, if stable coins increase by two to three X, you know, if we get to half a trillion, a trillion stable coins, there's going to be some trickle effect in the other crypto native assets.
This is such a big move, but it's one of those things we we don't know yet, right? We got we got to let this play out a bit. Exactly, just like, you know, sometimes you got to let room for the industry to grow and, and to, and to and to figure itself out. And I think that stuff like that is, is important. You know, like I said, like it's like before, like why don't we have rules? And now we're like, why do we
have them? So it's, it's, it's always going to be like that anyways, Tyler on the market side. Look, brother, we're at this weird place, right? Like you know where is Bitcoin still in it actually right above that range, right? It's just right above the range, the infamous, you know, one O 90 to one O 4 range, but it's trading above it. You see, like here, it's like just. Where's your line? So it's here is it was that this is the range, right?
We said it back then. I mean back in December. So this is the the the Darth Maul candle here that set the the infamous range that was like deadly, which was between 90.5 and one O 4. OK. Obviously there was a two months here where we traded under it, where people wishing that Kamala was president and then and then so we broke above this. This is essentially the range that people have been talking about. I never changed this line. I just have had it since like
December at this stage. And we're we're above it, we're above it. We keep closing above it. We keep, you know, kind of dumping back to retest it. The question is, Tyler, are we going to go back again to 100K, let's say 97 to 100K like a lot of people that you're asking for, or are we just going to like, you know, blow it out of the water and finally breakthrough. I mean, last night again, I don't know if you're awake because then you sleep a little earlier than me around like
10:30 PM eleven. We were coyly one O 6 something Bitcoin all time high waiting room in the boys chat. And I wish that didn't happen, but you can tell the markets just wanting it, dude. The market's wanting it. I, I didn't realize that we were, we were well above your line there. So that seems significant to me. I think my view is we're out of the range. I think we've. Broken. I mean, we're trading above it for sure. Yeah, here since that day, since 18th of May, 3 days.
I my gut is that we're going to see new all time high soon. I think as soon as this week, my gut is Thursday. I'm I'm calling Thursday for for a new point all time high. I'll be very specific with it. I didn't realize last night these movies. So you're right, I wasn't bad. I missed it. Looks like we went to one O 6. Yeah, dude, again, like I was talking to Benny Red Beard and we're like fuck, is this going to happen? And then we're just chatting and I'm just like come on man, go,
you got this. And as soon as it went to like one O 6 five, I think boom, it went under one O 6 like bruh. So I went to bed, not going to lie, I had my I was I was trigger happy last night. I was ready to like just go long in case BTC breaks up because you know, once it breaks, it's probably going to have a sharp move to like like a few $1000. Then obviously sometimes I get smacked back now. So I was ready. I was waiting for that and it didn't happen, but it was just funny.
It's just I'm just here like coiling. We went to one O 6.8 last night right there. My I have a few other thoughts. I think one, it really feels like they're going after leverage traders. So like they are like, look at these huge violent moves. Like this is insane. 7 back to one O 3 I think maybe one O 2. One O 2, I think yesterday we went to one O yeah, one O2 18th of May and then after this 19th went to one O 2 yeah, twice. People are coming in, they're they're putting on their 40-50 X
longs. Oh yeah, they're, they're cleaning the longs, the late longs and the late shorts are just getting wiped both ways. So I think be very careful with that. This is insane, PA, right? This whole Ranger, it's just absurd. I mean, look at this. And I always remember Amanda saying that you get like kind of one final shake out before the big leg up. So that that's kind of stuck with me. And part of me thinks like, are we going to see a Wick down to 100 before we go to all time?
Or was this it right? It might have been it and. You got it twice. You got to hear, you got to hear, you got to you got three times. Like what was that? May 12th one O 6 two whoa 2100 Holy shit I didn't realize that forgot about this one. I must have been away or there was just I was travelling. That was the day after I was travelling yeah and then here. So guys, when do we think all time high for Bitcoin chat?
Let us know in the comments. I'm very curious what you guys think So you're calling Thursday. I like your Thursday call unless they push on the low liquidity weekend. Yeah, there's a lot of possibilities there. Yeah, I don't know, It's it's such a funny one. I would not want to be a day trader here. This is just nuts. Let's. Just say the all time high waiting room is officially open. Oh yeah, the all time high waiting room is open. I mean, look at this.
I just love the Bitcoin chart. It's so beautiful. Looks good. It's just like, I mean, look at this. It looks like it's going to get a lot higher here, so the. Fact that we haven't broken down here like a lot of people are thinking, we'd probably break back down to like the Ranger in the 90's. The fact that we haven't is pretty bullish. There's some strong support at one O 4, let's just put it that way. Friday, Friday, Sunday, Saturday, Friday, 20th of May. What's that?
What's the 28th? So if someone's calling for next week, for Wednesday, I'm just reading the comments right now. No one's calling Thursday. So Tyler, you, you're the most optimistic in the chat right now. I get to claim. I get to claim the whole prize if we hit it on Thursday. Exactly you you get to claim the prize, man. One thing is man, this Bitcoin range is deadly to the to the to the to the alts like the alts are just like suffering the most.
I feel like they're just waiting and waiting and waiting and waiting. It's so brutal. I wanted to have this conversation on underexposed. We could have a little bit now, but it's like. Does this feel like a bull market to you? Like how are we classifying this 2025 crypto market? Are we, are we still coming out of the the short bear? Was it like an extended, like an accelerated bear? We just went through and now we're about to have another bull run? I don't know.
I I stopped thinking about that, but yeah. And I, and I say that because I mean Bitcoin and everyone's saying this like, oh, everyone's depressed and Bitcoin's an all time high, which is. But Solana ran from $8, you know, like Solana had a 3000% run. So you think the bull ended, then we had an accelerated bear and then we going to the second leg? Well, that's a part of the golden bull faces too, right?
Is that we, we have, you know, shorter mini cycles as a part of a longer grind up. I think Q 4/20/24 has to have been considered a a bull mark. Yeah, I mean, how insane is? This new meta, we had the AI meta come and explode, right? Solano went to 280. We had the Trump coin, which facilitated the the bear pull back. Yeah, but like since then, since January, there's maybe been a handful of trades, like launch coin was a trade if you got in decently early. The ecosystem itself is is even
been a tricky one, right. It's like the there's a handful of runners. There's been a lot of bloodbaths too. The salon meme market has been pretty messy. Like we had house coin really the only decent runner. I guess maybe like there's a handful like RFCI guess you've had a handful of memes go on decent runs and then they immediately sold off. So there really hasn't been much, I mean, virtuals has come back. We we've seen a little bit of a revival in some of the AI majors.
And then I mean, far coin grinding up, right, that that's been a big win off the bottom. But basically, if you haven't been in like those 3 or 4 trades, you really haven't had much success. I mean, other than just like holding Bitcoin and watching it go up. I mean the total 3, is that the same price that was at 1500 days ago? Yeah, which is wild. When you think about it, it's actually insane.
And the only thing that ran in that quarter were like stuff like Far Coin that ran it back from 250. Some memes, like where are the memes? You know, we were talking about pop casts and all this stuff. Are they are they like a lot of memes squeezed and went back up here, but they're back down from that. Like where's the Mirad memes? Like we saw resurgence of memes somehow last week and the week before because we we covered it. Mark came back up, Popcat, SPX, all these came back.
House Coin probably is the only one league latest runner, which by the way, never owned it. But if I were to take a punt, I'd take a punt here. You think it's going to survive? This is where you buy it because it just went to 25 mil. But again, it depends on this guy here. So how's those doing? What happens if we if we hit all time high on on Thursday, are every is everyone's going to slam in the risk slamming? Me, yeah. Risk in general, I think. Oh, Sui, yes, Sui was another
one, yeah. There's been a handful of good old trades. I mean hype hyper liquid is up 3X. Hype. Hyper liquid. Hyper liquid, Yeah. So there's been pockets and that's like a fairly, I'd call that a fairly public trade. Public trade sees a lot of people are not in it. Here, let me show you this. I'm not in it anymore. These chagrin let me vote on this, actually. Yeah, I think you said 60%.
So I voted 0 because I'm not in it and I definitely wish I was vocally a fan of it. So think about it. And I'm pretty stupid about that, actually. 1800 votes. That's a pretty good sample size. So it's not a bad sample size and we're going to have a much bigger sample. We can revisit it tomorrow, right? So first of all, it's not a consensus trade for sure, right? This to me means not consensus. Like 70% of the people have under 10 percent, 60% under at 0. What about his FAR .1?
Because he just did another one with far point and just voted Oh wow even. Even less public. Even less public than hype. You see this yeah I'll I'll I'll retweet that let's get some votes going on this one, but it see me it doesn't I'll tell you why D train very known famous vocal fartcoin. I see he just said the same thing He just said something someone asked on the timeline yesterday. What do you think are the biggest 5X trades out there? Easiest and not a single person
voted far coin. So you know how Mando and US were talking like hey is like far coin consensus? While I do agree that maybe narrative wise had become consensus when it pumped 4X, it's not like all the homies that I talked to, they don't have far coin. Like I'm talking about my homies like big and bunch of coins. You're probably one of my only close friends that I know is in with me. I think that's fair.
I think in my group chats not that many of the of the folks are in it. And see they chase launch coin, right? I'm sure group chats are on the launch belief ecosystem, right? I don't know, it's interesting. I think hype. Does that mean that hype and far coin are not consensus trades? I so the only thing is like I've seen like I mean I see OBC at the top comment that he thinks hype is the only like obvious 5X trade.
And I feel like that take, even even if it's not a consensus trade, I feel like that take is somewhat consensus, which is actually like one of the only things that worries me about hype that is like this easy 5X and where where is hype's FTV you're at? Hype's FTV is 20. Five it would put above Solana. It would make it like a top five. Solana's 100 billion five X and
hype and put it at 1:25. That doesn't really feel realistic to me. Now if if Solana double S Solana goes to 200, hyper liquid go to 100 maybe makes a little bit more sense. Yeah. But with, with those with that, with this current picture, I, I kind of struggle unless hyper EBM can really come out and start picking up real traction, which we haven't really seen yet. Farquin was my, I didn't reply
on that thread. I don't really like to be the guy who's just like pushing like Farquin is a reply guy, but that was the that's that's what I would say. Someone wanted to know what the crypto 5X is. I would still say for our coin and my dark horse, people may not like this. I I think launch coin is a potential 5X. It's not as safe. Where is it at? Where do I see where is? It 40. 9 Does that have its own little website? I mean, you can, you can see the coin and I can send you the the
ecosystem as well. Launch Coin, Was that $243 million? Yeah, it's a 15%. I think more notably is like it has big run, parabolic run last week, right, hit 360, maybe with a little higher, and then immediately went back to the 180. And that's when everyone's already great, dancing on it and saying this is dumb, it's over. But it survived. And it survived in a period where Pashmak, the founder, said, hey, we're going to slow down the pace. You know, we need to put some controls in.
I believe yesterday they, they may have come out with a fix for some of the, the snipers. The, the bull case is that it survived a, a slower period. It's kind of grinding back up. And then if he announces something with with like how they would introduce some kind of a flywheel like how to integrate this launch coin token, perhaps like how virtuals did either with via LP pools or via reward system or some kind of using fees for a buyback system oath.
I think an announcement like that is sends this thing up as my personal view. So and disclosure, I I have a decent bag. I feel that launch coin is one of those where you could probably make a three to 5X in size. I have none so I can say that without a bias. Like it's the type of coin where like if you're still thinking there's going to be an altcoin run, it's probably not going to be on the alts that you think like the usual ones. Launch coin at this stage is
kind of an alt. I mean, it is an alt, right? So, so utility coin, that's not really the main coin anymore, right? It's a utility coin. Yeah. So it's a the other. Big aspect of this past day is like in our report on 24 of the top 25 coins were in green. So like that was. Goon coin, I get tagged in that a lot. It's it's funny that the number one so believe app is supposed to be for. Yeah, and then the number one coin on there is a meme coin. Yes.
I love that yesterday I posted something like, oh, Elizabeth Warren and her goons are bad or like criminal or something. And then everybody started tagging me on this because they use the word goon, but it didn't even gooning. But I guess that's the one that's hilarious. By the way. I mean if Lawrence going goes to like a billion plus you got to think this goes to 100 mil. It seems like it's top meme. Is this hims? No, that's another one startup. What's that?
I think startup is also a meme. Interesting is this so the top 2 ones are memes. See we're never going to change. Like I, that's my, that's what I love by this space. It's like. The the next three or four were were were actual products. But that's the thing, right? Nobody buys 1/3 or 4th, right? Like like, like, like I'm I'm going to buy the top one, like launch coin and I'm going to buy the top meme coin and I'm not going to look again.
And part of the the rationale there is like if you would think that Pash neck and team are going to continue bringing exactly 2 founders. You buy lots. It's riskier to hold the top current product. Exactly. It could be a better one, but. Because it's not Pasternak's product. I'm buying Pasternak's product, not a derivative of Pasternak. By the way, I don't mean it's derivative, but it's like it's it, it derivates, it comes out of its path, right, Right.
Yeah, Like I'm not buying the virtuals coin virtual protocol. Like I'm not buying the 10th fucking AI slop launched virtuals. I'm buying virtuals. Yeah, the, I mean, the best AIAIAPT was technically the best trade in virtuals, but it was safer just to play virtuals than to play any of the AI agents. That can and this run up again. We forgot to mention Virtuals has been one of the top gainers in the in this last run up. It flipped far coin.
It's back to number one in the. Absolutely, absolutely. We can't even but so there's been quite a few trades, dude, like I didn't mention house coin and stuff. This has been launch coin. There's been virtual, there's been far coin, there's been hype. Obviously Bitcoin, there's been a few like good. I mean Pepe 2X that's big because that's like it put on like it went from three bill to like 6 bill.
So that's A and by the way, we're talking about 2X with like size, you could have infinite money to Pepe and you could you could T wop it out without fucking it up. So that's an interesting conversation. I think cycles did change maybe? Compared to November, December where you had like the entire AI board going up multiples. You could buy, you could close your eyes and buy a coin it. Was a whole mirage list went 5 to 10 X so it was much easier.
So we're not we're not there yet by any stretch. Yeah. The question is, is that are we going to unlock that at Bitcoin all time high? Yeah, yeah, you're right. So you got me hyped up with this launch coin shit. It feels like I missed a dip. We'll see. I should have some liquidity in case we get another smack down. Because you know, if Bitcoin gets goes down to like even just 99 K or like 100K, people are
going to like freak out. You know that like you in the worst thing is that 100K Bitcoin to me sounds like a dream like wow. And to most people it'll sound like the end of the world anyways in other news, Tyler, I know you got some still news that we can go to. We do have breaking news that I I that I want to that I want to go through it just just did this just did all right, It's just did rogue radio breaking news. Malay shuts down Argentina unit investigating crypto scandal Libra.
What I mean, yeah, this just in 10:32 AM, fresh off the press 7 minutes ago. Tyler, I was going to ask your thoughts, but I kind of just got your live reaction. Wow. And I mean what? His sister was involved, right? So like there was. Fucking both dude. Fuck his sister and fuck him. That's bad. Shuts down the unit. I mean, that doesn't mean that the DOJ is not going to keep going at it, right? And America is going to go at this, but in Argentina, the in Argentina that crime stays
legal. That's that's very messy. Is that pun intended? That's it. Indeed. That was a good one. That was a that was that was a good one. I like that. Wow. We investigate ourselves and found we did nothing wrong. I, let's just say I've heard some crazy shit about this case and, and I think the news is going to come out and I think a
lot of people are in trouble. I mean, we need I, I, I, I do invite people to not lose hope in that because I, I, I think some people about to be taken the through the fucking meat grinder here legally. I, I think so too. I I think it's hard to know when because these like I think. These cases take forever. Yeah, right. Like the NF TS. It could be three years. Prosecuted in two to three years afterwards, right? Yeah. So it may not be this year, but
I I agree that's that's common. There is some people that are in trouble. And by the way, I invite people to not forget the people involved in this Meteora Enemy public #1 if you still use Meteora, just know that there's some of the people that sent us into this accelerated bear market and they're to blame. Ben Chow is a criminal. Hayden Davis and his goons, criminals. I'm not even saying criminals as a hyperbole.
They are criminals. They stole from you, from me, from us. So don't forget the people that push this when every time something like this happens. But yeah, this is pretty disappointing. But hey, what do we expect, right? It's his country, his rules. I guess I just really hope that the US, the DOJ, doesn't let this one go, and I don't think they will. It's just another black guy,
right? It's just like, you know, people already had this view that that crypto was all a scam and then now you've got the the leader of Argentina shutting down an investigation into what was a a real scam that impacted a lot of people and it's just a it's just a really bad look. But I think that the DOJ, as you mentioned they're, they're going to go after this. So we'll. Still, they will. Oh, they will. They will. They will. They will. They will.
They're definitely going to be taken to court here, but I thought that was really fucked up like I just read that and it's kind of pissed me off. You know, it's no, it's not it's not a worry someone asking is it a worry that believes you, this media, right? No, it's just it's the biggest at the end of the day, It's just don't forget that you know, the founder was involved in Trump, Melania. I mean the guys probably made over a billion dollars.
You know, I probably extracted billion dollars from the from the from the trenches. But you know, it would be great to see all these people, you know, getting being taken accountable. And that doesn't mean that crime season is on. Y'all that's in Argentina. Y'all are going to go to prison in USA or in El Salvador. Be careful. They're not fucking right. Anyways, Tyler, what else was big here? Feels like there was a few things. Oh, I just sent you another someone breaking news from from.
I saw that dude, I saw that one before the right this the show started. Wow, I didn't see this. Just like if we need another kick in the teeth. Arkham Alert Theorem Co founder Jeffrey Wilkie just sent $262 million of E to crack. And I mean, can these guys just stop? Like do you have to send? Like can you just send like $10 million chunks? That's a. That's a lot. Like you have to press send on $262 million transaction. Like do you just have to do that to alert all the Arkham stuff?
Like you said, a bot, I don't know, like what he's doing. You think he's going to stake it? Yeah, I mean, why would? He's either staking it on Kraken because we don't have good staking services, or he's going to dump it on our faces. Do you know how much he has is? He out like are these people ever running out of ETH bro it seems. Like it's a lot. I'm trying to search this live. I mean, if this is like 20% of his portfolio and he's moving some off.
Oh, don't worry, he's just taking them on crack. It is. I know I'm the same. Hope you hear from me right. Chad GBT is telling me as of May 20th he holds approximately 106,000 to ETH. What's that? Which is basically how much he sent here. 105 K yeah. So that's all his ETH? He sent all of his ETH to Kraken. So, so, so hold on. So maybe, just maybe this is just take it. It doesn't too.
Solid or that person is not feeling safe anymore given the latest slew of of of of attacks on crypto founders with known wallets and wants to custody it safely. Right that. Makes sense. I mean, there there's, I mean you don't really don't want a public wallet with that much capital in it in 2025. The the the amount of of like of mental like gymnastics you're not going through right now is crazy though. Like it's just. This one clip sending it all in
one transaction is just wild. I guess that's the power of the crypto on the block and the blockchain is you can just send $262 million for what was his fees on that? He paid 3 GUI, so he paid it's $0.16 to send 2. 100 And this is you and I right now. This is my favorite so kudos very Oh my. God. Live, look at us. Yeah, not going to lie, I've been wanting to enter E long finally. Yeah. And maybe I'm going to get a chance, Tyler. Well, you know, had me build up.
I entered a small 1 and I already got liquidated on it. I was, I was, I was like 40 X. It was. I'm talking about a 3X long with like large size I'm looking. Pretty safe I think. Oh yeah, I wouldn't do it more like I I'm talking 3 to 4X, like 4X. Put your liquidation on the 2K3X puts it like 1730, something like that 1700 like that's what I'm talking about. Yeah, yeah. But you're you, we, we, we like your little DJ plays here, Tyler. We, we like your the DJ plays anyway.
So these were two back-to-back breaking news on that front. What did you have that you already had here, Tyler? What's whatever happened yesterday? Yeah, a couple of macro stories. Jamie Dimon, So he his notoriously like, hates Bitcoin, hates crypto. He finally announced yesterday that Chase is going to offer its clients access to Bitcoin purchases despite his skepticism. This came at the JP Morgan annual Investor Day said we're going to allow you to buy it.
They will facilitate Bitcoin purchases and including the client statements, they will not provide custody services. So I'm a little confused on exactly what this means. So you're going to be able to buy it, but not custody. Maybe that's going to be a via ETFs, I guess. So we need to unpack exactly what that that means. He said that his personal views have not changed. He's still very concerned over illicit activities, but he liked it too. He doesn't prove smoking, but he
agrees with your right to smoke. And that's how he he's comparing your right to buy Bitcoin. So it, I mean, it is a little bit funny rhetoric is a, is a little bit out there for this one. But I do think this is one of the biggest new trends happening is bank banks allowing their customers to, to buy and and hold crypto.
So I'm very curious how this is going to be operationalized because I got me personally, I got a Bank of Chase, like I'm very interested in this, but I want to know exactly what it means and like, if they're not going to custody it. So that means you're not going to get real Bitcoin, you're going to have to get some other version of it, I'm guessing. So I'm interested to learn more. And then the other one is out of
Buybits on the opposite side. So in the crypto world, buy it became the first exchange to offer global stock trading, the first major crypto exchange rather. So now 78 global stocks are included in this going to be used with the base of USDT, Apple, Tesla, Amazon, Meta, all the big ones are going to be in there. It looks like it utilizes this trading model called Contracts for difference. It's going to allow users to speculate on stock price movements without owning the
underlying assets. So it's like a, they're basically synthetic stocks. It's going to be a part of their buyback gold and FX suite on their Meta Trader 5 platform where you can also have access to gold oil in the Season 4 X. Looks like the fees are fairly low. Point O 4 USDT. Oh wait, point O 4 USDT per share, so it's a little higher. Minimum of $5 USDT fees per transaction. So. This guy's face in the studio, dude.
I'm late, I'm sorry this. Guy's face I just saw you pop into the studio with Tyler was talking. This is the face of that guy that's about to dump 106,000 ETH. This is making the Co founder Co founder of ethereum just moved 106,000 ETH to Kraken Mando. Wow, that's the face. He's like this too. He's like. Here we go again. We were just talking about that and we were trying to make bullish cases for it. How much is 106,000 ETH? 262,000,000 United States Dollar Reno's.
I mean, it's what it is. He dies. He dies. Hey, our, our bullish case is, is that one, he may be staking it using Kraken services and two, he's scared of getting kidnapped, so he's just custodying it with somebody else. You're muted, but that's our, that's our our bullets case. Yeah. That's probably what happened. And also, by the way, Amanda and other breaking news, Milay shut down the crypto unit of Investigation Argentina. Oh, really? Yes, really.
So that was the other breaking news in town was. Internal investigation get, get anywhere. Did we get to the bottom of that? Did Jupiter and Meteora units I think have been shut down way longer than the than the I'm? Really waiting for the results of that internal investigations I've been on head to hooks I. Yeah, we, yeah, Yeah. So it seems like there's only $20 million of daily volume for Ethan Kraken, so it's going to take him a while to tee you up out of that one.
Just quickly, the code today, raffle bought dot XYZ we put on the screen a few times. Another reason to watch this show on video. What's the code? I know he Sims wrote it to us. D Phi code is D Phi, DEFIDEFI is the code. No, the code is not Malay. The code is D Phi and you can win some money. So yeet.com use our code FOMO or replace the bet and make sure your account is public and then you're going to have a chance to
make some money. So anyways, D Phi is a code DEFI Tyler, you were taking us through the news for BI bit. So another institution being able to buy stocks like we talked about, right? This is going to be one of the biggest applications of crypto by stocks. I'm interested in what comes out of it. Looks like there's Solana accelerate this week, but also AVAX is a big event in London at the moment. So two big, you know, L ones having events.
Usually people tend to keep the news for those moments. So I'm excited to see. I think it's going to be a good week for crypto. Be nice if we get all time highs. Amanda, what do you think? Bitcoin hits all time highs. We were playing that game earlier and people were giving their guesses. Tyler has Thursday. Most of the chat had Friday and Saturday. Yeah, I mean, I thought it would happen yesterday, if I'm honest. Yeah, same. Prize. It didn't.
Yeah, We've kind of gone back down again today. We're going to be flirting with this level for a little bit longer. It feels like, wow, the market doesn't look that great. What happened to a lot of hard coins? Is that all good? Well, that's what we were saying. It's like it's very weird. You have Bitcoin making this huge run and like nothing else. Yeah, everything's waiting has really happened. There's been a few pockets. Yeah, I think there's a bit of worry about Japan at the moment,
like broadly. So it's like risk appetite. But yeah, it does surprise me. Like market, market aren't looking so great. Damn, so it's over. I'm not saying it's over. I'm just saying all coins don't look so good. I guess Solana had that. So this is the first time I look at the market. So Solana got its ETS rejected, didn't it? So. Delayed, right? Yeah, it didn't read so well though. Did you read it? I I missed that headline. I didn't see it. I saw it in your minutes, but I
didn't see anywhere else. Yeah, they were. They were delayed 5 ETFs and they said they they talked about market manipulation. Damn, like. Specific reasons for like why no for Solana which I thought was strange. Interesting. So and then now E one of the Co founders is about to rug it. One last dip. This is the dip y'all. This is the dip. There's going to be one more. All dips are for buying code is D5 raffle ball dot XYZ. My vaporous dog shit is losing value relation to Bitcoin.
It must be over. It's so funny. It definitely is. Hey, bitcoins still above the range man though. So yeah, we're, we're we're vibing. Yeah, I'm I'm fine with Bitcoin bigmans. Study fart coin relative strength and brand coins together. OV invented a new meta, did you guys see that? I'm just saying this, Yeah, the first ever brand coin. First ever brand coin so. Brand coins are looking strong today. Yeah, brand coins looking good here. Brand coin cup and handle.
Yeah, brand coin cup and handle a thrilling wreck to the dream, you know? Anyways, too easy to give away. I feel like we kind of went over everything, right Tyler? Unless I missed something, but we had a good conversation. We covered it. Of a genius act and all that good stuff so let's.