Oh, yo, what up? What up? Good morning, Good morning, GMG. Wednesday. I don't like Wednesdays. It's kind of like it's kind of random, you know? Oh, hey, Wednesday anyways, Wednesday. You know what I mean? Like. We used to love Wednesday half of the week. You like Wednesdays. I I like Thursdays. I Thursdays like you know, it's lit Friday. I'm I'm exhausted. Saturday, Sunday's fine. Monday's great. I don't know. Maybe I'm a Tuesday minimalist.
I don't know. Maybe maybe I'm, I'm, I'm bearish on Wednesdays. I'm bearish on I'm bearish on. But I'm bullish on today. Wednesday, August 14th, 2024, four, four, look at that. Another beautiful day to have a beautiful day. Another busy AF day over here. Holy shit. I got my car was in the house. Mano's on the way, but Tyler's over here. Tyler, how are you doing today? Yeah, I'm doing well.
Sunshine, beautiful weather here in Chicago and markets, some, some pockets of this market are starting to come alive again. It's been quiet. The majors are chopping, but there's a few sectors doing OK. So some excitement is building. I'm feeling good. Yeah, I mean, I'm feeling if you're going to tell me the NF TS are back with a half a percent pump, go ahead and get started. I saw this today and I'm just like man, mother fuckers with talk tweeting about Bitcoin breaking out of 61K gets.
I have my my indicators now. I know exactly who my counter trades are and I think I'm going to try putting it to work. But if you're on here to tell me the NF TS are back when apes are trading at tennis, you know, spare me so much the the. Most back the Backus they've ever been.
I just, it just makes me laugh because this morning I saw the screenshots and then the whole market got slapped back down before the show and I was laughing at myself because there's this one trader that always posts the same chart every time bitcoins like sees a pump and every time like 5 seconds later kid, you know there's a two point $5000 candle down since he posted this thing. We need Mando to pull up in a shirt we did yesterday. Yeah, we.
Got a shirt motherfucker. I better fucking be wearing a shirt. Honestly. I saw that guy post I let he close my salon alongs just like slight like break even slightly and thank God it did I I try to I I I tried getting back into the leverage game and I was like, yeah, never mind. Let's let's not let's not let's not get into that game during the chop. But anyways, another show today today exactly the other show today today market reported as usual crypto macro, all that
good stuff. We had CPI, we had PP is of all those numbers. We thought the numbers were good. This hold on, who sold Jesus Christ anyways? Yeah, these numbers, we thought they were OK Turns out they're maybe not so OK, but. But we'll see what happens there. Tyler's top 1000. And then last but not least, that's it. We'll give 100 bucks to someone. Oh yeah, we'll have a agree to agree to disagree or agree or disagree tweet today and then and then we'll give 100 bucks to
to someone who's listening live. So we'll just you know, quickly, like stop my finger on someone just send you $100 if you ever roll bit account and it's that simple. So anyways, we'll get to Mendo after as soon as he's back. I know he had 10 minutes delay. So Tyler, Tyler, Tyler, what do you got for us today? Four daily NFT and crypto analysis. Tyler D on FOMO Hour calls the
kids. Can yeah it it's a rocky morning, so crypto majors were up 4% pre CPI the CPI came in mostly in line with expectations. One of the numbers was a tick under expectations. Apparently market didn't like it. Majors are selling off now Bitcoin back at 59 K. It was over 61 when I woke up, so a little bit of volatility there same with stocks. Stocks have flipped red on the morning as well and other headlines. Coinbase eased CB BTC as a wrapped Bitcoin alternative
coming to base. Now this comes just a week after the rap Bitcoin flood from Bitco and and Justin sun was circulating last week. So interesting timing there Stablecoins on Solana up $1 billion over the last three weeks, largely driven by PYUSD PayPal stablecoins growth over that time. We saw portal remember portal? They launched portal on arbitrum. Shout out to Arbitrum furthering their mission to build cross chain payment rails to unite web three games and we got some
breaking news this morning. I think this is actually big. Perhaps the biggest news of the day. Metamask has launched their first ever crypto debit card, allowing people to spend directly from their Metamask self custody wall. So a lot to unpack there In memes, meme coin majors have flipped to red on the day. Most are down 1 to 2%. Ken, Billy, Giga and Flog were
notable leaders. We got some wild news out of Giga. We'll have to come back to that later on the show, but that was a fun headline. We saw pump record high best ever revenue day over $5,000,000. Again tied to that Trump and Elon conversation, a based token launched with everyone holding
those base introduced entities. They're eligible for 25,000 tokens that a base coin over $4 million market cap and then margin by They launched their arena product where users can now go long or short any tokens on slot, including meme coins and NFTS Looking good across chains here this morning. Green across the board ETF leaders up about 5 to 15% this morning. Rune leaders up even more. RSIC bonk pumps Billy up in the 30 to 50% range, so some nice
comebacks there. D gods are crushing over on Solana of 19% at 31 and a little bit of a fun and perhaps not so fun headline. Kevin Rose, everyone's favorite NMT founder. He's back and he's launching the paid sub stack tied to tech, health and Wellness. So so check that out if you're interested. There's a lot to unpack from that list there bro. Yeah, there's a lot to unpack over here.
I mean, we'll keep the market stuff with for when, you know, Mando talk come so you guys can go back and forth about it. But where do you want to start? I mean, there's some pretty big news. I mean, we all wanted a Madamass token. All you got now is a debit card so you can spend all your crypto. So tell me. Yeah. I mean, this is yeah, we're, we're not getting the token, but we're getting the debit card. I'll.
Take that, I guess for, for mass for when it comes to like to show that money, but crypto can be money and whatnot. But tell me more about this partnership. Yes, they just launched it here this morning. The news is about an hour old. It is their first MasterCard debit card. I believe it is branded as the Metamask card. They they have built it and are launching it in partnership with MasterCard and the Box Group. It's going to run on Linea the the Linea.
Network. Oh yeah, 'cause they it's a consensus, consensus software, right? Yeah, exactly. And they're going to make purchases directly from your Metamask wallet. Available crypto will be instantly converted to Fiat at the point of exchange. Says you can use it every day like you can via Apple Pay and Google Wallet is leveraging the MasterCard network. The pilot is launching in the EU and the UK, so Americans won't have access to it just yet.
And it looks like you'll need to go to that Metamask portfolio tab from your Metamask wallet to see if you are eligible to get this this card. But I think it's a really big deal. We talked I talked about this a little bit on on the show. I think one of the, the end use cases for, for crypto in narratives is that you never have to convert crypto to Fiat again. And it, it's been impossible to really do that up until now.
And I think now we are finally getting some of the building blocks to actually make that a reality. Like you could become, we're getting closer to actually becoming bank less, you know, to, to, to use the term and you have this product, if you can actually do this, since it's accepted at, you know, your grocery store everywhere you shop. I mean, you really don't have to convert your crypto to Fiat on a monthly basis.
Like we, we still need bigger unlocks like cars, houses and all that, but man, we're, we're getting closer. Yeah. I mean, I like this. I think it's a very big update. It just goes further to prove that, you know, crypto can be used. Just use cases for for for that as well. And you don't have to buy gift cards. It's the in crypto now you can just get a meta mask debit card and spend that money, which makes it easier in Europe for a moment, there was like a revolute cards and stuff like
that that they had. So they that's some stuff. But I think that having a meta mask debit card and in partnership with MasterCard is very smart and and probably going to be very useful. Hopefully, hopefully the next thing is this card gets you points points. I have I have a bunch of these sort of cards. You, you, yeah, you guys in Europe are ahead on that, right? Yeah. So banks is also and MasterCard are the company that do it with Ledger as well. So Ledger have a card as. Well.
I don't think over here, man, Not in this, not in this. No, I think it's a European based card. But yeah, you it's, it's basically exactly the same setup. Like you log in Ledger live and then you have your card and you can. Pay that way. Crypto.com are probably one of the biggest card providers out there. Like they have a special way of doing it. We have to stake their crow CRO token. If you take a certain amount, you get different like levels of
the card. I think globallycrypto.com is probably amongst the biggest. In the past I think Binance explored a card in certain regions, but I don't know if they're still doing that. And then Nexo which is that Bulgarian always funded 1 that that one has quite a popular card program, so. Interesting. For the Ledger card, like do you have to do anything on your Ledger to to approve transactions or it just works like a normal debit card you just run it and.
The treasury system is accessed through Ledger Live, so you have to you send it to a an address and it then manage like which fiats you want to have on the Ledger Live app. It's like an API plug in I think to the bank's system. This bank system which is clear now doing the Mathmos 1I imagine it'll be similar here. Got it. Yeah, it's good. I started to as well, Yeah. Yeah, I mean, it's good, but to be honest, like it's kind of
similar to a normal credit card. Like whenever I pay with any of these, I have to go through and do an approval either through the app or for like any, any online purchases, for example, like if I'm just buying coffee, like it's fine, contact list, that sort of stuff. But yeah, for for for online payments they do you have to do some sort of extra approval normally. Yeah, it's there's a bunch of
cards, right? Like even in the comments right now we have easy saying that there was a finance card. Logan, you saying that he has his Gemini card by the mail? Revolut was good but they had high fees. Yeah. Yeah, they, they, I know this one was a but Revolut's been around for way long. Like I've known, but Revolut's like 10 years. Revolut's not Revolut's A was a card like an online bank which then was made into crypto. But there are like specific
crypto cards. Yeah, they've been around. I use Nexo a lot, yeah, But, you know, I don't have a ton of money ever on Nexo just because, Yeah. Keep your by. The Bulgarian mafia so. Well, if, if Mando did not kill himself, everyone Mando did not kill himself. Anyway, we're going to get to the market in a in a minute, Mando. But we started going to Tyler's top 100. Tyler, what else you got for us? I mean, the CBBTC thing seemed to be the biggest and most important news yesterday when it
comes to global crypto. So by now I assume that you are an expert in CBBTC and you can explain to us exactly what it's all about. Of course, so wrapped Bitcoin was in the headlines across the crypto Twitter last week. It's on the go. So Bitco is moving. It's wrapped Bitcoin business from the US to a global multi sig and involves Justin Sun from Tron. It's LED to some concerns in the market and there's been a lot of thuds, some red flags raised. It looks like Coinbase is ready
to step in and capitalize. So last night the Coinbase X account made a very simple post 5 letters CBBT. They went on to follow that it's coming soon. But those five letters were not to start a firestorm. Speculation across crypto Twitter, with many jumping to the conclusion that Coinbase indeed will be launching a wrapped Bitcoin alternative of their own. That speculation was basically confirmed just an hour later. Basically Jesse Pollack stated the team massive plan to build a
Bitcoin economy on base. So it does look like the CBBTC this wrapped Bitcoin alternative is coming to in the near future. As I looked into to this a bit, I think so for starters, like why this would matter. I think the go upping a crypto asset and bring it to a. Oh, I lost him. There's the Wi-Fi. I think it's becoming a meme. It's only when he talks as well, which is quite funny. It's. Only when he talks like it is actually you're right. It's only when he talks he
doesn't lag when like. Yeah, I don't. Know and he completely, I mean what do you know about CBBTC? The Coinbase thing. Yeah. No, it's a money making scheme. Like they obviously made a lot of money with Circle. The idea that they would then start wrapping Bitcoin. I mean, smart, right? Because like the new Bitco thing was going to have would you rather have Bitcoin in custody of Justin Starter? Bitcoin in custody of Coinbase? Well, bitco is Bitco is one of
the most well known custodians. I know they are, but still like they're they're they're, they're working with Justin. They really dropped the ball by deciding to do it alongside Justin's son. What a massive fumble, right? Like they potentially just fucked themselves. Like this is a multi billion dollar company that could potentially like really have like it could be either just a slight misstep or a massive fumble. But Coinbase was quick to retaliate here.
Tyler, we got you back. You cut, but you're back. So. Yeah, I I wasn't even saying any P words. So that that was a brutal so 9.24 billion in Ratch Bitcoin liquidity right now and then the Arkham posted that Coinbase holds 52 billion of Bitcoin. That makes sense. Question how much is going to to come over? And I saw folks kind of talking about how D5 summer 2020 that wrapped Bitcoin was a big driver
of that. I got that was a little bit before my time, but you know, that certainly makes sense. And I mean it, it's a massive potential unlock. I think the question is how much are people actually going going to move? But if your base, it totally makes sense to to go after this. Yeah, no, that makes it. I mean, look at how much Bitcoin they hold, right? And you'd figure that most people rather have Coinbase custody. I mean, 11 ETF issuers definitely prefer Coinbase right over over most.
So it, it makes sense. It makes perfect sense for that. Some timeline. I mean, timeline seems to have taken this, you know, in a very, very bullish way. Does that mean anything more for Bitcoin or is it just like it'll allow? Because I saw, for example, people like UDI saying that Bitcoin season 2 is on, you know, that it's very bullish for Bitcoin defy some of the people saying that it could be bearish for for Bitcoin now twos that were about to be built, etcetera.
Like is there do you guys have any thoughts on that? Like was there any I can bring up the tweet now that you sent me Tyler, but you guys have any more thoughts on that maybe put on? That Bitcoin. Yeah, like does it? How does it? How? That Bitcoin is one of the main Bitcoin defy as a thing has been something that people have been trying to solve. Yeah, exactly. Many years, many, many, many years. It's one of the grails of crypto still to kind of solve.
The only way of doing it at the moment is wrapping it having it in some sort of storage or some sort of custodian and then then issuing like a wrapped wrapped Bitcoin on on the ETH on the ethernetwork. Now, if there's a way to natively do it and natively do some of that D fi I think that the closest right now is what rune is doing the rune ecosystem Thorchain. I think they now have a lending protocol where you can natively borrow against Bitcoin.
Some bitcoiners don't want to touch their Bitcoin, but yeah. This has been something that like all the Bitcoin L twos are trying to tap into because obviously rap bitcoins only about 10 billion. It's not that big. So that's how much is being used for Bitcoin Defy essentially. I don't know what store chains TVL is, but I don't think it's it's not it's not in like the 10s of billions. It's I think it's less than five. So a very small fraction of the $1 trillion asset that is
Bitcoin is being used for defy. There's some some like dye uses wrap Bitcoin and I think on Solana, like even GLPS is, but it's it's small if in comparison to how big the asset is compared to ETH, compared to Seoul, compared to everything else, it's a very, very small fraction. So if you can somehow find a way, Oh yeah, Liquidium is is is is something someone's that's trying to do this too. So this is like the grails kind of get Bitcoin defy going get
people using it XYZ. So DC investor you like DC managed to turn this into a theorem bullpost. So. I'll take the opposite side. What do you think? Tyler here. Why don't you read this tweet out for people that are listening live and tell us your thoughts on this one. Yeah, DC unashamed ETH, Maxi says with Smart Wallet and CBBTC, Coinbase could turn every one of its Bitcoin holders into a base slash Ethereum user. And they will. And will they stop at earning yield on their Bitcoin and
borrowing against it? Many won't. Another reason why Ethereum remains drastically, dramatically underestimated and undervalued. I get this is the the bull case, right? I think it's still very niche products. I think we we've got a lot of evidence that Bitcoin holders like Bitcoin. I could see them using D5 perhaps in the Bitcoin economy, you know, if and when that is
ready and more user friendly. You don't know that we're going to see a whole lot of converts, right, really going deep into into D5 and base D5 because of this product like what has been stopping them from doing it so far right. You could do it with. Nothing. Absolutely nothing doing it right. It's available. It's easy to access. Anyone can anyone can partake pretty much in in in defy at
this stage right. It's not it's not really it's not really that that tough I mean Mando, do you have any thoughts on this one? Yeah, exactly. Liquidium is doing this native on Bitcoin L1 yeah, leisure. I figured it. Out from what I said before, no not. Really. No. Like really like big. Opportunity. Don't go crazy about it like the one of the reasons why Bitcoin. Can you let us find bullish narratives people? Don't like touching their
Bitcoin? That's kind of like one of the things around between Defy. It's the same reason why less than we learned with ordinals in rooms, right? Yeah, it's like. I was going to say. Anything with it? I was going to say you guys can stop this because you're fighting my rooms that are already at 0 So if you guys could just kindly. It back, I hate to break it to you. Runes are back. Well, why don't I give it to you and tell me how back they are? Go pull up the magic in the
runes board. I almost don't. I don't. I don't want to jinx it, so I don't want. To you know what's funny? I haven't looked yet. I'm not looking. I open the screen. I bet you that no matter if every room is back, Pups is down. Let's see. Even PUPS is green that that's how you know. Oh my God, it's good 1%. Pups is up to 10 million after being down from 900 million. Let's go. Let's.
Go the the comeback yeah so the monthly numbers are still red for a lot of these so I don't want to get up on my skis but if you saw how low some of these some of these went so low on the on the the yen carry trade crash day you're. Right. Like so low that I, I just wanted to like almost like cry, wait. Hold on, don't, don't cry, Tyler. Of course, I'm not going to, but like RSVC, what was it hit like
30, hit like 30 million I think. RSIC team is good at like I have to say they're good at like pumping bags. They're pumping them, Yeah, they're going to have to deliver it at at some point, but it's back over 100 million. Yeah, I mean, Leon, Leon diaper here saying very good risk reward on those bad boys. You're right. I mean, when Bitcoin turbo crashes, there has been some very good returns on wounds if you caught the bottom. But again, you have to catch that, right?
Wasn't there one of them that was listed on the exchange yesterday, that billion dollar cat one? I saw that on my timeline. Oh did a good list I I may have missed that. I I don't have any of it, but obviously that's the room that I see a lot there. Yeah, I got Mexi which is not crazy but still like it got listed on on a on an exchange. They've got a cult falling, I'll give them that credit. They were all over Bitcoin Nashville. Those glasses were everywhere.
What I will say my bear case for Billion Dollar Cat is like their nickname is Billy and the my bear case was that the salon ability was better, but now the Solana Billy is like kind of falling off and people don't care about it anymore. So that actually might have invalidated my. I like I just want to preface this by saying that I actually really like the Solana Billy, but every coin like there's cursed names in the space and Billy to a Billy is cursed.
Yeah, it's one of those sayings that it's cursed. We saw that one that flywheel fund launched that scam, you know, doing turbo and Pepe. Remember Billy Like the goat and. The end of I actually left the flywheel group. I was in that group up until that time. I. Left it brother. That was like that was nice pump and dump right? The amount of people I know got dumped on on that one is wild. But you know, usually when you call your coin, but I do again, I'm saying I like Billy the, the
the dog. I like him and actually bounced pretty well from the lows up 3431% in 24 hours. So, so it's got, it's got it, it's got some good cobalt over there. Real quick, I I want to come back just to the D Jens on the CB Bitcoin. They they launched ACBBTC ticker, a meme coin who I don't know, but if you go to the baseboard, sorry, this is back in meme coins now if you go to top volume movers, yeah, I think it's number one there. Oh, wow. See Bitcoin. I don't know any of this but I
just thought it was funny. It is fun. I mean, look, it didn't do that bad, right? It's up. It's only up 2500% in 24 hours, so it's not bad. But I do like your point about ruins. And then you talked about NFTS. You wanna go there before I go into market report? While we're on base, so this is kind of NTS. So I posted about this yesterday, folks. A lot of us minted those base introduced NFTS back in February of 2023, so about a year and a half ago.
Now the the, the rumor mill at that time, like we hype ourselves up so much was that this was the de facto Coinbase base token. They couldn't launch a token. So they launched this NFT. It's liquid like ones. There's like 450,000 minted. Anyways, a different group has now latched on to that NFT and they've launched a based coin and that they did a phased launch where you could exchange those base introduced NFTS for the tokens. In phase one, you can get 500,000 tokens per NFT, then
250,000. Now it's 10 to 25,000. So it it's a little bit less appetizing, but the, the token launched yesterday, it ran up to like 10 million at peak and it's consolidating a bit here. But this impacts a lot of people. A lot of folks had those, A lot of folks stacked those. I may have it, I may have some. How do you? It's in my I guess it would be my open CE, my base on base. I'd have to check, not too sure,
I may have bought some of that. I swear I mentioned like 300 of these because I was just the clown who if I fell for this but I can't find it so I don't know if they're on one of my old machines or not. That one all size haven't migrated so I got to try to find these. Yeah, we'll see. We have. Of course we got AMF first shell here on on the on the group. You have leisure. Why don't you like I don't know, I don't know about base meme coins anymore. I was I was bullish for a hot 2nd.
I just smaller casino just keeps on dragging everybody into it. Right. So by the way, before I go to the market, this pump funk conversation, I thought a lot of people were joking, but people are really pissed, huh? I yesterday like it got worse after the show. Like people are really pissed off. They have like the highest revenue day in a while. I think people are starting to discover that people have been making money. Photon has made hundreds of 1,000,000, yeah. No kidding.
Relax is making money quite a lot of money at the moment. You've had Banana Bot make money, Unibot make money. They're all. Bonk they've. All made over $50 million basically. And I think so the top ones like Photon Bonk Bot, they've made hundreds of millions and people like hold on like well. I'm not making money. But The thing is like it's.
The best response to that was yeah, if you look at how much Binance makes I. Was going to say that literally Oh my God, literally my next thing was going to be Mendo. Do people want to cancel central exchanges for leverage trading? Like should we point? Like should we like Like people are saying that meme coins are dangerous, brother. Leverage trading is more dangerous than meme coins. Like, like arguably in my opinion, and they're accessible.
They're both high on the risk scale, but that way. But I would say that, yeah, I think this is just a conversation for nobody making money. Right. Yeah, whenever. Those. All of those. Bots. Yeah, Yeah. All of those bots that were mentioned yesterday as well, but they they peaked in their revenue a few months ago. It's only really pumped off on that's built up the revenue.
But this whole model where they're making it free for creation has really just pumped up their own revenue metrics. Jeebus posted about this. I think I kind of agree for for starters, like I, I'm not angry, I'm not fun. Like again, they're not just a great product. They deserve the success. Basically saying that them kind of tweeting about like their success as a platform versus like highlight success is, is part of what drove all the
pitchforks. Like we may, you know, tacitly the platforms are making a lot of money on the back of this, but I think the folks don't want to see it like shoved in their face, especially when when they're losing. And I think folks would rather see like, why do you show up to the casino, right? You want to see the guy who turns $200.00 into 50,000 or 100,000. So maybe leaning more into that versus just saying, yeah, we launched 10,000 tokens and we we made record-breaking revenue.
I understand this point. Yeah, I mean, maybe don't shove in people's faces, but I, I, I, I don't know, I, I, I just find it funny that Levis traders that share the reflinks on their every post are the ones claiming that pump font is bad for the space. Like dude, you're literally sharing. Like these are the same people that are promoting FTX back then getting paid by Sam Backman free to shell his fucking product or claim. Everyone wants to go to the casino but nobody wants to to to
pay the fees for it basically. That's what I don't understand, like let me go cancel the Wynn resort for the fucking money I lost last time I was in Vegas, dude, Like no, I just won't fly to Vegas again and be a dumb ass like you know what I mean? Like it's just like I, I, I don't know, I have a very much stronger stance on this, I guess because I just find people kind of, I just find it ironic that. Do you think they'll break this $5,000,000 record daily? I'm sure I mean.
I don't know and. Bitcoins. Feels like 8 meme coins to a certain extent, at least in the short term. I short I don't know, bitcoins at 100K, what happens to meme coins and what happens to the casino? Yeah, I agree. I should. I don't know what about. I think it's to do with the changes in the incentives have actually LED them to get more money because more things are coming closer to radium and therefore they don't really
care. Like pump fun really makes their their money at the start of of the coin right of the coin creation. So they don't really care about the success of the coins. So it's not like, oh, if money goes up, more coins get created. It's just it's difficult to work out like this is even this can continue. Hey, you know, there's I don't know, I just I just saw like yesterday, like stuff getting more aggressive all the time. I think some people trying to dox the guy and shit like that.
It's like dude, like I don't know, I don't know. And like you have all these traders sharing the docks. I mean, I'm just like, dude, like it's all the big leverage traders that are like claiming that is bad for the space that all this like, I don't know, I just I just find it ironic. I think we should get Alan on the show. Come fucking ask him what he thinks of all that.
You know, there's definitely some things they could be doing better, but you know, exchanges also make tons of money and nobody's complaining about them. So I thought that was a funny thing. Anyways, Mando. Well, that's Tyler. You got anything else that you feel like I didn't touch on from your? The Giga story was fun. I don't know if we want to. Let's go. Over that and then we'll go to the market report. I I shared that as well.
That was hilarious. I didn't see this until I saw the decrypt article come across right before the show, but apparently the the giga chat model. I didn't even know this was a real guy. I just thought this was like, hey, he's a real guy. He he came out and endorsed it. He he put it on his Instagram. He was wearing like a Giga fitness shirt or, or something. He he posted it. So like, yeah, recently the Mike Titan, the bodybuilder o'hearn, he endorsed it and now like the
actual Giga Jet model. Oh, he endorsed it on our new programming. OK, so Ryan Ryan, one of the Crip writers, Ryan Gladwin, he's great. He's been doing a new episode, a show called What's the meta once a week where he has a big like meme coin dev come on. So he had the mock team Billy and now I think Giga, I guess. And then person Giga chat himself endorsed and it's up 21%. That's funny. That's quite a witch. Remember when we first talked
about that Wick? God. Oh, and then it's filled it. It's doubled since then. Like it doubled the Wick I think. Damn. Oh, it did double, but still, it's significant. Tyler. Well, look at that dump, guys. Look at this. Look at this recovery. Dipped by giga dip then giga rip. If you, if you held that dip, Odyssey respect, like if you held this dip and it's up, how much? It's up to 172% from the lowest. But if you have that nip, I have a lot of respect for you over
here 'cause that look at that. That is such a crazy chart. How's how's Moon doing? I haven't checked it in a bit. Hold on, let me check on Moon with the bull because that was the other one that had a OK. Well, there's still a lot of work to do here on that on, on that wig. But anyways, all right, well, that's, that's good on Tyler's top 100. I love it. We got a lot of good stuff in store. Mando, Mando, I know we got CPI this morning. How are we looking? Who is the main?
Macro daddy of the land. Can you dig it? Well, I'm surprised because CPI came in slightly less than expected. We have A2 handle for CPI for the first time and the market dumped, well, didn't completely dump, but we had a little mini rally and then soon as stocks opened structure down. I think probably just a little bit of caution. Let's say we came in lower than
expected for CPI and PPI. There's been a heightened sense of recession fears I would say in the US again, these sort of figures, they aren't falling off a Cliff. It doesn't this, this more suits to slow down rather than, Oh my, go ahead and do a recession. So I'm not that worried about this figure, but it feels like maybe the market is more worried about it. They had they had a good day yesterday. It rallied just shy of 3%. The NASDAQ is down well, half a percent today.
So nothing crazy. But it did feel like at the moment crypto is following macro rather than rather than being inversed to it, which it was for a long time. So crypto is rallying when stocks are rallying and then crypto sold off when they weren't. I think we hit a high of 61 around 62 K on Bitcoin. Solana I think hit 152 area and ETH I think it about 2780. So is we're down about three or three or 4% since those highs probably an hour ago. And I don't really know what to
make of this. I've been saying for a while, look, I think we're going to chop for a bit. Again, six months to chop baby. I don't think it's, I don't think it's six months shop, but I do think it's going to be tough for us to break out before the election. So be prepared for well, just just just shy of three months, 2 1/2 months of shop, I think we could still have so be very, very wary of buying into momentum.
You had some people coming out today and being like bitcoins going to go to, you know, 6066 K all time highs. I I'm wary of that, even though there were, you know, there's inflows into stable coins. I think I just think we need a big spark to kind of take us above that, that sort of level We kind of spoke about yesterday what have been going on with with Trump and Harris and that Harris had had hired potentially less crypto friendly. It looks like it's choppier.
Yeah, higher odds are increasing again. So people are, I think, getting a little bit more worried about super. PACs, they're bidding. They're bidding Kamala. Yeah, exactly. And but today in terms of we had sold stable coin volumes been going up. I saw Tyler's post around that 1 billion in the last three weeks. Interesting on the ETFs you have Goldman Sachs coming out and saying they own 418 million of the Bitcoin ETF, which again just ingrains and more and more
into into crypto. I know Goldman have have a crypto desk for example, there was a record for Ethel two. So if you're if you're bullish on the modular narrative, then then that that's bullish for sure. Although it did look like jump is continuing to sell their crypto holdings. And it also looks like big the Mount Gox, the final kind of 2 billion ish odd is going to be sent to bit Bitco or one of one of the major custodians. So that's so that's going to be distributed I think relatively
soon for macro. Honestly, it was just around this figure today. It's it's kind of a good, a good figure, but markets aren't taking it that well. And I think we'll probably just chop around for the rest of the day if you're most. Yeah, I mean, this I thought it was cool news, by the way, that the Goldman Sachs, you know, reporting $400 million of of Bitcoin held as well. So they join, you know, the skew of banks that, you know, you have Goldman, Morgan Stanley, Wells Fargo, you know, it's
looking pretty good. I also really liked what was it this tweet yesterday, Hondo Horsley saying that, you know, again, like a major bank also trusted them for for the Bitcoin Etherium ETFs. So that was some good stuff. So on that front, like nothing's changed, right, like the the ETFs are still slurping Bitcoin and Ethereum.
The markets are here. A well known bank with one trillion client assets has just approved the Bitwise crypto industry innovators ETFBITQ for solicited access for across wealth management throughout the supports these advisors. So it's like, you know, but the stuff's not wait, stopping. You know what it is? We need people. To you know, all this stuff will happen.
It's all it's all positive. People are still on vacation, right, Mando, like once their kids go back to school and the man first go back to work and want to, you know, see what they're doing with their pension funds and like, you know, the retirement savings accounts and everything. It looks like we're going to have, you know, more time. It's just like end of summer type thing. You know. I can't believe I quit a keyword monkey yesterday, but I'll quote him again.
You know, he said just summer chop. Just wait. No, you know, but he's very right on that. I think Goldman Sachs is there's a, there's a service within banks which is called prime brokerage where they often do do custody for, for hedge funds. So it's unclear. I need to look into the actual filing itself, whether it's this is their wealth management division, this is out their prime prime brokerage division or this is perhaps out their trading division.
I actually just don't even know. So maybe I'll look into it. But it is positive. You're going to see, I'd be more positive if you started to see big tech institutions start to have a, a slice of Bitcoin on their balance sheets. That's when I get really bullish. It's obvious all the banks are going to get involved. Like I don't like the marginal bank buying more Bitcoin or having more on its balance sheet.
I think that's just gradual. If if you were to see one of the S&P 500 or maybe one of the NASDAQ 100 have Bitcoin on their balance sheet, that's when I'd be like, OK, you know, we have micro strategy, but it'd be good to see more and more company. And Tesla obviously have a have a small holding, But if you saw one of the magnificent 7 or even just like one of the top 50 tech stocks also have crypto holdings in their treasury, I think that would that would really get people bullish.
Yeah, yeah, probably it's just a matter of waiting. But it's wild. I just realized like I was looking, it's like 6 months of range now because that range really started at the very end of February. So I was looking this morning and I was like, wait, it's been six months. It's the math, so. This is the thing about crypto, you have to have a no sleep season and then you sleep for the rest of it.
Yeah. I mean, know that you you're like there is a no sleep season where a ton of money is made and then you just there's six to nine months of everyone just chopping themselves up and losing a ton of money and then we all make money again. Good. So basically, you know, sleep for six months. So you can, you know, take care of yourself and then no sleep season and then go back to to sleep season and then no sleep seasoning. There you go.
It's that simple, you know, and the words of Aidan Ross, buy low sell high. You know, he's he's Tyler. You saw that clip, right? I haven't but that that makes total sense. Let me show you. I thought it was funny. I like Aidan Ross a lot, by the way. I just thought that was really funny. If you guys listen to what I'm going to say, you're going to make a lot of money, right? Here's our method that I came up with in stocks and in crypto. Don't put laughing emojis and shits.
Listen, buy when it's low and sell when it's high, OK? So like, for example, when ETH hits $4000, sell all your crypto. When it goes back down in the 2000s, you buy. You understand what I'm saying? So yeah, thank you, bootleg threat guy, for the advice. What do you think, Tyler? What do you think of this market? Deep. So if we talk to the election, we're talking about nine months of job. Yeah, it's going to I think this is probably going to be even worse by then.
But it does feel like, you know, Q4 early. Q 12025 now seems to be like when we could perhaps see the next round of catalysts potential legs up. So like we'll see pockets move, you know, between now and then. But I feel like that that is a base case does make some sense to me. Yeah, I guess we'll see where, where life takes us on on that front.
And I guess we'll keep chopping. So for the next six months and then then up only in 2025. You know, Kobe did say that next year is a when the cycle is going to really start. So, you know, we're we're just going to wait. Yeah, there you go. Like someone said, I'm buying resistance and shorting support. Well, there you go. You know, if, if every time the CT traders get your fork at like 62 K, you sell, you're probably going to make money. You know, that's what I'm seeing anyways.
Mando, anything else in the market? I think, I think it's the wrap, right. I think we think we've gone around. I don't think there's much more. I think that's. It for the week, if I'm on in terms of like big data, there's a retail sales figure which might be indicative of of the strength in the US economy. But I think, I think we were in for a little bit of a quiet period now. Yeah, there's. Where's the next data like? Let me have a look. I think we go quiet for a little
bit here. The next Yeah, because there's no FMC this month, right? Since September. And this was a big week for data. September 17th and 18th is the next FMC. There's no FMC. I think there's jobless claims tomorrow. I don't know if that's like the key jobless. Yeah, This one's a like there's always initial jobless claims kind of every week. But in terms of like the next big stuff, honestly that was it.
Like we have retail sales tomorrow, then next week you have the FOMC minutes that come out next Wednesday, but that's basically it. So go chill, you know, go chill. Yeah, we're we're we're a little, we're a little chill for now. All right, well, let's pick someone. Let's pick. Some NVIDIA results will be the next big thing for the market. There's only 28th. They're on the 28th of August. All right, that's two weeks today.
Don't chop yourself in the next for the rest of this month, y'all, we're going to remind you on the show, but fucking chop yourself. There's going to be easy season. You'll probably know when easy season is back. Like there's always an easy period, like probably second wave of the bull, like next leg up and, and just just just chop, chop yourself up. Don't lose your fucking Solana, Bitcoin, Ethereum or whatever token you're holding and chill.
All right, lads, let's why don't you, why don't you hear, Amanda? Why don't you tell me when to stop and we'll pick someone to to win $100 on the show today. Stop. All right, well, Lucky bonds. Lucky bonds 28. Lucky bonds 28. Yep, they did retweet this way. Says actually they retweet every day. So perfect. Lucky Bonds 28 right here for Sims topic, etcetera. Lucky Bonds 28 Congratulations, you don't need to come up. Don't worry, you win.
You win $100.00. So make a Robit account and we will make sure to credit you $100 for being on the show today. And with that, with that, with all time flu, it's Laurie 11. What was that? We're done with that. We'll see y'all tomorrow morning, 10:00 AM Eastern Standard Time for another episode of film while we're on rock radio. Let's go.