Yeah. GM guys. Doing doing amazing, man. Can you hear me OK? Yeah, you're great. Hear you. Great setup, new setup. I know I'm in the other room, but yeah, it's good to be here. Good month it was. It felt good last night, right when we all looked at the screens and just felt like a new beginning. Yeah, and new beginning. I mean, look, we're gonna stay true to the true to our to our to our listeners. We're gonna stay true to ourselves and everyone here.
We're not gonna celebrate. So I don't know what you're talking about. You know, it is October, so we can celebrate that we have entered October. But I'm staying true to the promises that we made to each other in the group chat and then that Ovi took public. So you know, we won't be celebrating. I even got targets with Michael Sadowski's like, remember Feroke? No celebrating and said Yep, until 2500, Einstein shit, no pump it up song. Nothing. And even then I may not even
play the song. So you know, we're not, we're not going to be doing that. But it does feel good, man. Though it does feel good when you get back into work on a Monday morning. It's last quarter of the year my favourite quarter every year. And and here you are you know things are up and it's it's looking good. So you absolutely love to see. Yes. Man though is in the other room just behind that door.
Right behind that door. Mando is right there as he with his beautiful construction background that I have to deal with every morning here at 7:00 in the morning, drilling, but right by my bed. Is is that the construction or is that Mando? No, I wish I had to deal with Mando every morning 7:00 in the morning by my bed. What Pause but wait. Hold on, hold on, hold on, hold on. That's one What? Speaking of 1. What? Yeah we do. We will be speaking about that
man today. But anyways as usual ladies and gentlemen we are on YouTube. We are live on the streams. Join us on YouTube. Make sure to to to to to join the the the the YouTube. But also to retweet tourist. But today on the show today, today we got some great topics as there's gonna be 1 entertaining AF shows. We got Octobers here, obviously talking all things market. What happened this weekend? SPF's revelations. I mean God damn, I don't know if you all saw those 60 minutes
clips, but they are crazy. Don't sleep on Solana and ARB. What is going on? This ecosystem. I saw some popups. I think man is going to be able to educate us a little more on that Beanie Benny beefing with Luke. And that's over though as the weekend or Friday. I don't know when that will. Ohh, that's that's cute. Who who did that? Who put the Luke? Who put the beat? Put the video look his head. That's so funny. Oh my God save some back from the dead.
Beanie calls out our NFT Lord and saviour Luca like that. The little, the little topics This is great. And then I will be talking punks. I mean there was the punks event. Just last minute addition to the topics. Crypto punks meet up. We're going to have, we're going to have a big man and maybe these if you mix it back on time to his home. I'll just come and recap the
event real quick. And last but not least stops artist Red Rum. Today I will begin with Katie because there is a language barrier with this. So Katie is gonna come and kind of explain the piece to us and quickly the mint mechanism. Then the show about all this. Or maybe he'll come before polls. But anyways that's what happened today and as usual, as usual. As usual this show is powered by cracking NFT. Check himoutcracking.com/rockradio or
you're on screen. Just scan that QR code, you know, it helps the show, it helps our radio. And and if you're curious about what's happening in Canada, I mean I was on a panel with bank list last week and cracking everything, it was a lot of fun actually was a great panel, made me bullish on Canada again for like a hot 12 hours. And then I saw the rest of the news about broadcasting regulation. I was like, alright, I'm back to being hit. Yeah. Wild. That is absolutely wild news.
So does that mean I have to register rugby radio officially in Canada? Well, you're gonna have to write to yourself, right? I don't really know what it is, but all streamers, all podcasts is gonna have to register themselves or else what? I'm not allowed to podcast. Who knows? This says it is saying just register. But the next stage is then they sense to you. The next stage is to put you in prison for saying the wrong thing. I don't know, like where that's going. Just listen. Yeah.
I mean, can you still get the? News. Is the news still like Bandon in Canada? I think so. I think so. I think you still. I gave up on Googling stuff over there. I I can't get anything out there in Canada. I don't know what's going on. But listen, it's it's disappointing because like the other day was cracking like it was a panel about Canada, right? It was about Canada. Why did decide to like double
down in their efforts in Canada? And since we're partnered with them and Bankless says we kind of did it together. And I left like really excited. I was like, wow, like if they're doubling down and they were like, well, canning regulations, actually not bad. You can do this and that. But then if I'm not allowed to speak freely, then you know they're gonna start putting a black screen on while I'm talking about them on the show, you know, like China or something. So I don't know.
Anyways, anyways, why don't we get this party started? But today's first topic they which obviously is related to the market report but October begins majors pump 4%. Mando, what's what's happened on this first day of October? And definitely want to hear obvious takes here because you've been bull tweeting all weekend and boy oh boy do I like your bull tweets. They got me going in the morning. Mando, what's happening with the market? Mark is looking good, market is
looking good. So I think we had a little bit of a self just before we started, but Bitcoin was hanging out around 28.328 point 4K. ETH was at 17301720 area and we've dipped slightly going into the start of the day, but that was up around 3:00 or 4%. They randomly pumped last night. A few different things driving that narrative. Firstly, you have all the ETFs, the futures ETF, which are launching today. There's up to 9 launching today. So you saw a big rise in open interest last night.
Ahead of that, they're going to be buying futures contracts. So you saw the futures market obviously get pumped up. But then just generally, like we've been holding out that level for a while. Felt like we weren't really going that much lower. As soon as stocks weren't that weak on Friday, we kind of pumped then and then even today, like stocks aren't really doing that well. Like European stocks are down like 1%. the US stocks are not
doing that well. The dollar is higher, gold is lower, but still is massively outperforming across the board. So this feels very crypto specific. I saw a quote. Over the weekend, which was the correlation between Bitcoin and stocks right now is that 7% and this time last year it was around 70%. So we're kind of just on our own plane at the moment. It feels as though people are getting very up around the ETFs.
There was some delaying of the spot ETFs, but you still have the grayscale decision which is going to be happening this month and people are kind of half expecting that to be positive. So that's kind of pulled up everyone. The rest of them will be in January, it looks like, in terms of decisions. If we get a good piece of news out about Grayscale, you'll serve the Coinbase. The trial, the trying to throw out either of those, if that comes back positive, it's really, really bullish.
What you did see and we'll get into a little bit more, is that alts outperformed over the weekend, not including EVE. So you have things like Solana, everything in the arbitral ecosystem, everything like optimism. They've all seen big moves, Even some of the meme coins, the ones that you thought were dead. Bitcoin ticker, bitcoins, backup of 100 million, some big, big bounce in that space. So and the unit was up like 60%. So some of those on chain coins
robs up another 20%. That on chain narrative kind of came back pretty strong. Yeah over the weekend. So all of those coins that you thought it was over they've all come back pretty hard. Slang is probably one thing. The majority of the interest because it's back up to like 24, 1/2 having been at I think it was like 717 when everyone said that the FTX thing was going to wallets were gonna be dumping. So that's a big, big bounce since then.
So everyone feeling a little bit better in that world and then arbitrary and optimism you have upcoming incentive airdrops. So a lot of money is moving on to them for TVL, but yeah, feels good. Traditionally, October is a very, very good month for for crypto. It's even a good month for macro. September is traditionally a very, very bad month for Bitcoin
and crypto in general. In fact, September wasn't that terrible for us. Like Bitcoin ended up September up 4%. So if that was our bad month, you kind of hoping that this month is going to be this month, it's going to be a good one. But yeah, definitely feels good. Timeline feels a little bit too euphoric for my liking, but it feels like we could have a good few weeks.
I think we're just celebrating October putting into the putting the good vibes into the into the into the right was it Amanda that came and said that the market is an aggregation of vibes. And I think I was talking to about this like this everybody tweeting October, the whole thing like you know that's the monthly chart by the way on earth. So we're actually up back-to-back two months when you look at that this way.
And then if I check the Bitcoin monthly here for us look like when you zoom out a little bit, it's not looking that bad. You know I am professional but you know and they no charges. But I kind of like this, I mean Ovi what how do you, how do you, how do you see the market play out here. I know you also made some comments about Pepe over the weekend. I kind of like them. So kind of Christ to hear your thoughts on what's going on in
October? There, there are a few macro things to be aware of like we had PMI today, PMI came in higher than expected. It came in at 49 versus like 48.3. So that's why stocks and the US are selling off a little bit. That's why interest rates are back higher and you also have payrolls this Friday, which is going to be pretty important. Well, I think because we're basically at the end of the hiking cycle for the Fed.
All this sensitivity to economic data, labour market data is going to be a lot higher if it wasn't high already because people are just waiting for, looking for like the bad data to try and save them when the Fed might start cutting. So PMI today was actually like a strong number. So that's not. A creative to the cutting narrative, but then we have payrolls on Friday, which at the moment are expected to be the lowest they've been in like the
last 18 months or something. I think the payroll number is projected at about 150,000. So we'll see if that hits or not. But if that does come lower, I think you'll start to see some moves in macro. And then crypto is just like, you know you had a couple of, you had some pretty big liquidations over the weekend. I think it was $400 million worth of Bitcoin was liquidated, $200 million worth was liquidated. I still think we weren't. See any ETF approvals until next
year for spot Bitcoin ETF. I think they have delayed all of them. I don't see why they wouldn't delay grayscale. That doesn't seem to be any reason why they would favour that over the others. Maybe because grayscale applied ages ago, but they have to value each application as as and when they come in, so it's a new application. My guess is they will delay that to. Well, it's not. That's why it will be different. It's a different case.
Like this is more than they lost that battle against the SEC, so it's not like a new application. They have to come up with a new reason why it would not be accepted, so it's instead a bit like what we've got in your. Application. So grayscale is completely different to the others.
Like grayscale. They either have to accept it, or they have to come up with some new fanciful reason why they would reject it. And if they don't come up with a new reason, grayscale will go. Large What's the deadline for that? It's in the middle of October. Can they renew that deadline? Let me bring out my. They had 45 days from the original judgement to come up with a new reason why they would block it. So they have to come up with a reason why they would not accept
the grayscale ETF. Which ones are you? Still one again, it says exactly. It's not another 45 days to either approve the OR delay. So it does look like they can still delay it further, but they would have to. Come up with a new reason why they have to tell. Though right, they can still just delay it. No, I think to actually delay it would have to be a new reason. They lost their reason for delaying it essentially like their reason for delaying it was
this thing. So they have to come up with a new reason. For this, the thing that I'm reading says they can either approve, deny or delay right? Which is the same language as all of them, so. No, what I mean is deny it would be it's over, right. The delay would be right. You have to come up with a new reason why this is going to be delayed. They actually have to come up with a reason why it's not like.
Then we should. Give that out because if it's if it if that is the case it's pretty significant but it is from what I mean. But I'm I don't see like from what I'm reading it doesn't seem like it is the case. So. I'm, I'm, I'm almost like 95% certain that's what needs to happen. I looked into what they need to come up with a new reason for grayscale, which is why it's way different than the others. The reason for it being blocked was it's not a new, some new
application. Like they literally need to come up with a new reason that needs to be like some other remedy or they have to basically say we're gonna go. So well, basically could be very important for, for, for, for the future. I mean their ETF is slightly different. It's not like any of the other ETFs like it's already, it's already fully formed. And what you might see is if they actually have to accept it, some of the others might have to like redo themselves, so they
look even more like grayscale. Grayscale is a very big deal because it's not like the others. Yeah, that's an interesting one, This thing. I'm not convinced based on what I'm reading, but maybe these? Websites are wrong. I don't know. Well, we want them to be wrong, right? So yeah. Anyways, you wanna say no or you wanna push grayscale, You better give us a reason to do so, alright? Or else we're gonna assume it's accepted and that's the bull narrative now.
That's what that's what we want. Listen, I, I in September, I just gave up look at the price of even my all my mint coins and everything and looks like you know things are starting to look good again now. So thanks man for confirming that and and it's it's looking good. I'm seeing more and more of them on the timeline again.
I was calling this morning vicariously and then look, I've seen cold down there, cold XBT, just throwing hands throwing throwing claps at the bottom here of the space. So I like that when cold XBT is happy we're happy because he's probably going to or pull it meme coins and it means it means that we're doing good. So by the way man, don't know if you we turned you down earlier from your thing or from our end but we just need to not turn you back up a notch.
But anyways there you go. He's laughing now. By the way we also shared the broadcasting now live on Twitter every day. Wolf love to see those numbers push up right now so you can actually watch this live on video there for those of you who don't know. Depends on the experience you prefer but it's across all platforms and it's usually better. We tend to do this for a better experience if you want on video. But anyways, a second topic today.
Ohh man this man again Sam. Sorry, second topic today. Scam. Bankman freed. We got some revelation from from the famous author Michael Lewis and we we started to find out even more and more about his
dirty laundry. I don't know if you guys spent some time on the 60 minutes official Twitter page today but they posted a tonne of their of their of the clips from from the interview that they did with him and so there's some crazy revelations from from sorry so you know you had you had Sam SBF potentially trying to offer Donald Trump $5 billion not to run in the next elections from things like I don't know I saw some of the most absurd thing how like he thought that the $8
billion that were of of of your money that was in Alameda researches Wallace we're rounding error because he was on the under the pretty impression that they had infinite money glitch going on at Alameda or other revelations such as like his relationship his romance with Caroline ending right during the crypto crash which really doesn't help right. She was running Alameda or even more details about how, you know, he used to also gamble in his own casino.
So he used to trade on FTX while you know running Alameda and more and more. And it's actually pretty absurd. But one thing that I know is Michael Lewis actually catching quite some slag on the timeline over as saying that it was not a Ponzi, but it was actually the business model would have kept on working and would have worked had there not been a run on the
bank. And so that's really was the main thing on the on the timeline today because it's absurd to say, right, because I read a few threads from the other side, I think was Mike do this. I was also going at it pretty adamantly on his end because, yeah, there was around the bank, but there was running back for a reason, right? And every single dollar that we're making was to actually pay somebody else off. And they were writing a bunch of pansies within the thing.
But Mando, I mean, what do you, what do you make of these revelations? It's it's this, this seems like a lot of stuff is starting to unfold here. And the Donald Trump one is pretty wild. I'll find the clip and play it for everyone once once you're done there, because it's actually pretty crazy. Yeah, look, Michael Lewis is is like a very, very well known author, right. He's done a lot of load of books in this in finance. Most of them are like in best
sellers of live poker. I think his first, he's done a number of others which have all done really, really well. He was obviously getting to know SBF incredibly well over the period. Just before this, all this shit went down, and his book is out this week, so it's understandably coming out this week At the same time, the SPF trial begins tomorrow, and it begins with six weeks. So we're gonna be we're gonna be hearing a lot of SBF headlines over the next few over the next few weeks.
But so obviously this is coinciding with Michael Lewis's book coming out. But some of the stuff coming out is wild and it's difficult to work out if any of this is sensationalist. But SBF just seems slightly unhinged. And to be honest, Michael Lewis isn't really covering himself in a lot of glory for a lot of this. Like he seemingly didn't realise that all of this stuff was like, dodgy as hell.
He's kind of being a bit of an apologist for Sam to a certain extent, being like, you know this, this was a Ponzi, but like all crypto is a Ponzi and and I don't know, I didn't really that kind of ring me up the wrong way. Also, it's so clear from some of the stuff that he was saying that this was a bad acting. But yeah, some of the main headlines is that he wanted to pay Trump 5 billion not to run, which I think is one of the main things that come out.
He seemed to think that the whole billions of dollars lost was just a rounding error for for FDX. I think this is very, very clear. SBF believed that his. His exchange was capitalised well enough, and actually, actually, it clearly wasn't. He just believed his own high. He believed in his own shit coins right until the end. And that's just so obviously a Ponzi and Michael Lewis isn't an idiot. He should realise that this is indefensible to a certain
extent. And there was some other stuff, like apparently he was asking for Michael Lewis's advice about buying things like Twitter and a couple of other. But we're gonna, I mean, I'm definitely reading that book. That book is gonna be incredible because Michael Lewis is a very good writer. So I do wanna read it. But yeah, crazy, crazy headlines coming out over. The weekend. Yeah, I mean it's wild.
And he was saying it, says Lewis said his answers to most of Batman freeze ideas was no. That was the that was the that was the one thing I I I saw I thought was funny. But if you go and and I'm gonna, I'm gonna show you guys on the screen right now. Just for anybody who's curious, let me let me share my screen here. There you go. And if you go on the 60 minutes official Twitter page, that's where they're talking about everything. But this is the clip, right?
And it's actually a population that Sam had looked into paying Donald Trump not to run. That only shocks you if you don't know Sam Sam's thinking we could pay Donald Trump not to run. For president like how much would it? Take Did he get an answer? So he did get an answer. He was floated. There was a number that was kicking around. And the number was kicking around when I was talking to Sam
about this was $5 billion. Sam was not sure that number came directly from Trump. Wait, wait, so, so Sam's looking into paying Trump not to run and he actually get Didn't men have come from Trump himself? But he actually. Got a price? He got one. Answer Yes. The question Sam had was not just his $5 billion enough to pay Trump. Not to run, but was it legal? Well, why didn't this happen? Why did you follow? Through.
Well, they were still having these conversations when FX blew up. So why didn't happen. He didn't have $5 billion anymore. Approached for comment by 60 minutes, neither former President Trump nor Senator McConnell responded. Last So of course it's you know here say until proven otherwise.
But there was another story with Senator McConnell where apparently Sarah McConnell has a list of Republicans that are not pro Trump. And so Bankman Freed was convinced that Donald Trump was going to be the end of the world and the end of the America's democracy. Like he was convinced of that, right. And so he was investing in two things.
How to protect himself from another, like COVID type spread and everything, and how to make sure Donald Trump doesn't become president of the United States. America because he was convinced like Trump was going to destabilise that democracy and
everything. And so McConnell he tells the story of Sam granted on the jet with with with a suit curled up in his hand and shoes falling off and everything and and and and he asked him why do you have your suit curled up because because McConnell doesn't want to sit with you unless you dress a certain way. But then Lewis goes, but you don't even have a belt and your suit is looking like this and that. But it asks him, and he goes to tell him about the list that apparently McCall.
Of Republicans that are not pro Trump so that he could not only fund them while he became Joe Biden is one of the biggest donors of the of the Democratic Party. So I think the next was it 8 weeks or something? You're saying the trial is gonna happen. That's going to be interesting because those stories are. There's some crazy stories, like Tom Brady and how much it was paid, like $55 million for 20 hours of his time per years for three years. Or Shaq or that ad with what's
that old guy called. He did the Larry David. Somebody right there. Is it there? It was a great ad for Super Bowl. It was such a good ad at the time, too. And it was like 20 mil. And apparently Tom Brady genuinely fell for Sam. Like in terms, like, not in love, obviously, but like in terms of like a friendship, like he was describing. Their friendship was like that cool quarterback at school with the nerdiest.
Of nerdiest nerds that used to be like bullied in school and how they became like a bromance and Tom really genuinely loved SBF. It was actually really close to him as a friend. They used to hang out together.
They used to be friends and and he painted them that way and the relationship and it was just crazy like it was just like hearing all these stories were wild and and there was some videos and although you should all go watch the clips either I spent like half an hour in bed this morning watching all of them like 30 of them and you see. The effort, the ankle bracelet and them and he spent like I think, he said he met him 100 times.
During the time that he had the ankle bracelet and something like that. So you know, I may not read the book, but listen to the audio version of it. It's gonna be. I don't read many books. I've read pretty much every single Michael Lewis book. I think wow. Yeah, he does good books. Yeah. What do you mean? He's famous for a reason, right? So it's it's it's pretty wild,
man. I I do hope that it doesn't end up being the way you said Mando, where he kind of demonises crypto because he did call like he did say like at the end he took money from crypto gamblers. And I don't like that because just because you bought cryptos in your gamble, like a lot of people are like, he also took money from my friends, your friends that I don't think are gamblers.
Yeah, well, you know. I mean like working in a casino and saying ohh, it's OK because they're all gamblers like why is that fair? It's like the the logic there is complete. Trust like rigging the bank also and saying that the defenders had your money in the bank like or like in your 401K and your investment in your stock, right? SPF is indefensible. Opinion like this completely indefensible. And the fact that you can say
that it will. Cryptos is full of gamblers like yeah, not clearly people here for speculation. They're also here for the tech, even if they have disputation. That's a joke of a defence. But anyway, the whole idea that you would pay Trump to not run it, just the delusion of this man, just becomes more obvious with time. Like this guy thought he was an effective altruist. He thought Trump was so bad for the world, and he was so good
for the. The guy was stealing 4 to $5 billion and putting into his own hedge fund and he still thought that he was better. For you know, he still doesn't think he's guilty. Look, Michael Lewis was saying in those videos that like, SBF genuinely does not understand what he did wrong right now, Like he still doesn't understand what went wrong. He is still convinced that, like, it was probably easy, like he is. And I think he even convinced Michael Lewis of that.
There's a clip of Michael Lewis saying this was actually a good business. Until there was a champions out tweets and AC tweets about all of this, which is why there was. This is the other stuff. It's like it's it's just if you don't understand the situation, then just don't chat, chat about it because it wasn't a good business. He had a massive hole in his balance sheet and he was buying yachts called SMD for over $100 million, like they were not
using the funds correctly. They were doing whatever the hell they wanted with them. And then they they were banking on the idea that they're shit going right at the heart of their balance sheet was actually worth something. And it wasn't. So it's like it's just a complete joke. Um, some of the some of this defence? And I look. They might claim the FBF doesn't realise. What he did was wrong. The SBF is really smart. Like he is. These these are not idiots.
They all knew what they did and all the others are gonna plead guilty. Because they know what they did. SVP's going to try and go down the ship, but he understands the logic of what he did. Yeah, I mean, look, the timeline did not like that one. It's in, it's in Ohh, sorry. It's in. It's in this clip here. Definitely used body. It's like when you face case, they actually had a there the dollar coming in is being used to pay the dollar going out. And in this case they actually
had a great real business. If no one had ever cast aspersions on the business, if there hadn't been a run on customer deposits, they still be sitting there making tonnes of money. Inside the Beltway, so that's that's that's the that's that part. What he said is that is true, actually. If you break it down, they would have kept on making money if they hadn't been around the bank. That's like, that's a fucking oxymoron. That's like saying a bank works until there's a bank run.
Yeah, that's kind of the way it is. Such a dumb take. Yeah it's it's pretty bad take. Anyways we we've got we've got a bit about this.
I'm sure we're gonna be talking about this topic again in the coming days weeks because obviously he's going on the book run right now book touring and and I mean he maybe has to say some controversial stuff like this so people get to read this book or talk about it because it clearly works like even the threat talking about how he's wrong has like 150,000 views right. So so there's that. Anyways topic #3 today. Hey Meadow. So Lata and Arbitrium seems to have popped off quite a bit.
I've seen them all over your your Mando minutes here. I mean, Solana. And is, is, is all over the timeline. So I'll go to, I'll go to Solana first, right Solana, TVL surges, search, spark speculation amongst the crypto community. So the Solanas total value lock TV outreach is $337.49 million, its highest in 2023. And there's a bunch of stuff happening on Solanas ecosystem, obviously, like a lot of people talking about it. Here's the Defi Lama, you know, chart about it.
But what is going on on the Solana side here, Mando? So what's interesting about Solana is actually very little is going on, but it's still managed to have this incredible. Or community behind it like there are Defi is like waking up on Solana having been absolutely torched. NFTS to a certain extent are kind of they've stayed more active consistent. But it was surprising about Solana is despite, I think the daily active users of Solana is
actually below is of the year. But it still has this very, very fervent community and the idea that if it does start to get those things back, if it's defi community starts to come back. It does have 400 million TVL, but if that DFI community comes back, it could easily go into the billions of TVL. And if it's NFT community comes back and some of these games start to kick off, that's the stuff so stop that can really
bounce it back. So I think whenever I look at Solana, one of the main things that we even asked answer when he came on like what are the main applications right now? I have to admit, like there isn't that many major applications going on Solana right now even. It's more like they are awakening, awakening after a long period. You're starting to see TV, I'll come back. But it's more you could catch this like Solana zoom out, you could catch it if those sort of
things to come back. And then the other big one that I mentioned was Arbitrium and optimism. Both of those have got so arbitrary. Everyone remembers the Arbitral Odyssey programme, that's when. Temperature in decides. They're going to give everyone in the community $50 million to start using Arbitrium. They are gonna do that again. In fact they set the grant programme stage right now. I think maybe over 100 different arbitrary based projects have applied to Arbitrium, the Dow
for grants. And basically what I mean is you use our application, we'll give you some origin to do it. So a lot of money is moved back onto Arbitrary and a lot of the micro caps on Arbitrium as well as the Arbitral coin itself has really bounced. Um, over the last over the last two weeks let's say ever since that grant programme was announced. But again that could be a medium term trend like arbitrary if it was to define what arbitrary was
mainly about. It's mainly about DFI, particularly some like more difficult stuff in D Phi. So they're very big on some of the decentralised perk networks you've things like GMX is probably the most famous one, they do some decentralised options, they do some decentralised lending. But if base is as we've heard. That is more like consumer focused applications.
Arbitrary is more about defi. So you can go test out some defi stuff, hopefully get some free arbitrium that could be a big thing and optimism is going to be the same. So optimism is going to do another third air drop. They haven't given as many details, but you're gonna see money move on to both of those changes chains. I think in the coming weeks, months, some of this stuff happens. That's just that's just a collection of different small coins.
But you can really. That's one of the things if you're looking for, I don't know, they could do a 10X or a low cap that can do a 10X. It's this sort of stuff right now, because if one of those platforms wins a grant. Things can really go crazy and that will probably be the same optimism as well when that runs. So you've seen some of the bigger caps, things like GMX are up a lot over the last week or so ahead of this, but you're going to see some of these much
smaller ones also run, I expect. Yeah, listen, big fan of Arbitrium, like not even the token. I don't think even I have our position built yet do I want it to in the 80s the other week. But speak fan of the team. I mean we talked to the team a lot and we've hosted a bunch of them and they're great. I know we're going to try and get someone else from their team soon to talk about these grants.
They're giving everything they've built so far and obviously we have still been our corner who is like the arbitral mascot. So it's a it's a great team. It's a great team. Sat sat with CM again in in, in in Korea. Auction week, we all had lunch together. It's just good people. They got great things ahead and they're here to support the space for real and they had a lot of money to do. So there's a lot of ARB available in the Dow to support
like builders in this space. And I think when it comes to the team and like the tech team they have is really unparalleled in the space. Like they're one of the best ones out there and it's good to see that. So definitely agree with you. And listen, if you're a builder looking for tech, there's grounds out there for you to go and get. You don't always have to try and raise money and you can maybe get a grant if people believe in your project and you can probably get.
You can probably get a lot of like you know help and free marketing from that actually cause also offer marketing grants were not. So I would I would look into that similar to base look Jesse was on here last week and similar to a bunch of others but you know this is one thing I like about crypto a lot is the all these grant programmes from different deals. That's one thing I really like and for hungry builder you know try it's worth it I promise you. But anyways, next topic that we got.
So yeah, good advice here. And by the way, none of this is financial advice. But but but definitely don't sleep on on on Solana and and Arbitrium and their ecosystem. I'll go through this next one quick here Ohh man oh man oh man that takes me back to my to to to my beef with Beanie put over the weekend. Yeah Beanie and Luke Annettes going at it. I have to say there's been some ratios that have been served around on the timeline.
So Beanie and Luca Netz went went back and forth right after Beanie. I think I'm trying to find the tweets. Pull him up here for y'all but after Beanie. You know, kind of. Kind of gave like some criticism of of Luca and the announcement and how everybody was was like. Was really happy about UH about UH about you know Lucas execution.
The Walmart news of course you saw like the timeline was like full of it and and Benny wrote this like super long tweet most not going to pull it up really because too long. And then you know Luca came back to him with the reply obviously I think the ratio was pretty significant and then went back and forth out of it and and I thought that was that was pretty funny. You know, obviously Beanie, taking the other side, you know engagement and probably gets the
people. Talking on his end, he probably succeeded getting what he wanted. And then Luca also probably gained a lot from that because, you know, it's pretty good publicity. I mean Ovi usually you know a little more, but what's going on Twitter, Twitter line, like did you have some hot takes in that one? Cause usually you kind of chime in on the hot takes here and there, but it's just it's what
happened. I thought beanies points were fair, but I think I mean my view of it is that I didn't. My perception of Pudgy Penguins and you know, I'm not part of the team. I don't, only I'm not an expert on it. So this is just just my perception as an outside person. I didn't think they were going for like the big luxury premium brand kind of thing. I thought they were going for a mainstream angle. And that doesn't mean you can't have like higher end parts of
your collection. Like if you think about something like Disney, that's a massively mainstream brand. But like, certain things within the Disney World will have a very high value because of like, how much? People like the brand and how much, you know, collectors, how much emphasis collectors may place on it. So like based on that I didn't think, I think like Walmart is a good move for them and I don't think it's a deterioration to
the brand. But this is like, this is pudgy Penguins. This is not like. Crypto punks are like you know the right, the Tiffany or something like that. Like so that I think based on that maybe I just have a different perception of what the brand is to what Beanie does. And maybe Beanie thought it was going to be a high end brand and then and then he still thinks it is and then he doesn't believe that Walmart is a good look for
that, which I agree with. Like I think that's true, but I just don't think Paji Penguins is exclusively a higher brand. I also don't think they're like a high end and a low end brand. I just think they're like, let's go mainstream and within. Um, world. An ecosystem, whatever you call it, we might have more expensive things that like die hard fans want to buy. And that's the way I view it. And I'm not saying that's the way it is. That's just like my perception of it.
And you know, maybe if we have Luka on one day, he can, he can explain it. Yeah, I'm still trying to work that out. It's just our our schedules tight this week with Zebo and stuff and I have to see what the live shows. So we're still trying for this week. But I think while they also shared the strategy, I've been referring to this a lot because Luca referred this to me a few months ago. And so basically this is how Pudgy sees it, right?
The content and everything. If distribution interaction, web three link and then the Super fans that will buy the NFT that's how he sees the photo go down to the 15. I think this is great. I person obviously enjoyed watching it so I pulled it on the screen. I thought it was funny to see, to see them go back and forth and look. It's it creates conversation it's good whatever. But you know I do think you can
coexist in both brands. You can do your network live in South turned $50 items times 100 and limited. But you can also have your cheap ass toys, right? You have some Nike sneakers like Nike did a collab with Tiffany. The retail was 1000 something the reseller is over 2K whatever that's a luxury product and it's that but it's an Air Force One. The Air Force One is like $80.00 shoe.
Right. Yeah. And so and so you you, I think you know they both can coexist and and one thing now if punks had been to Walmart then I'd be like alright. This is stupid, but I also think. The pudgy Penguins sounding soldiers I think is weirder than the pudgy Penguins selling a lot more if you ask me in the first. Place I agree, right? Agree with you that. Yeah. Yeah. Like, I think it's like that that was a wait what moment, right. And so and so anyways that that's that's what I saw.
I don't think we need to go on the topic too much. People talk about it, but a lot of the time then you can see for yourselves and make your own assumptions. But man, do you have any, like any last thoughts on on the whole Beanie Luca kind of drama that went down? I thought they must both make good points. I think they both got ratio like I think being got hard hard ratio for it but I think what he's saying. Actually does hold some, does hold some gravitas.
I think what he's a fair criticism. You can't. Well, I mean, if you can't just be blind to criticism. And I think what he's saying is don't devalue the brand. I also think that Penguins have absolutely crushed it and they've made the best play out of everyone and which I think is very unfair. It's like this crazy survivorship bias in entities. And what I mean by that is like. Project Penguins. People are now trying to poke holes in what they have done and
everyone else has failed. But everyone has forgotten, everyone else has failed, and now it's almost like they're fair game to attack. And I just think that's like a complete joke because they're the only one that's actually had some success. Who the fuck is remembering all the other? Cuddly PFPS have done absolutely nothing. No one, no one. But because Paddy Penguins have survived, they're free for pop shots. And I think that's a bit of a joke. So I think it's fair criticism.
But at the same time, like, come on, let's just support the people who are left, like they've done incredibly good job, like to get this far, to get it into Walmart. It's an incredible job. From now on we can always say what did anyone do in Afts or what did someone do with some of the funds. We can point to this as a success. And I think we've got to elevate that. So Beanie criticising the wag Me vibes of it like there's no wag me vibes left.
This is all we have left. So let's at least be, let's try and elevate this. They've done a very good job. You don't have put calls in it, I think. Base carbon made the best point. It was, I'm gonna paraphrase, but Davis was like, if anything, why be makes more sense now because we're like 300 people left and we're probably actually all gonna make it, you know, you're saying? And I was like, he's right. He's like the the 50 people that
are still here right now. You motherfuckers are gonna make it cause you stayed, you know. But when we were 50,000, of course none of us are gonna make it. I thought it was funny. But look, beanies always criticising, criticising the perma positive people. And of course I'm sure that, you know, I'm probably part of that crowd and I'm pretty positive because I'm bullish on the space and the people in it and my friends that are building inside of it, right? Yeah, 300, more like 30.
I mean Johnny, I think we're back to 300 with this weekend's pump. It always happens like that, right? Will be 3000 if we get back above 2000 and and we'll keep going and going and going and going and going so quickly before I do we wanna is Katie in the room? Say, I know I wanna talk about stuffs for two minutes because obviously the artists can't come on today, but we have. I was meant to have Katie talk about a couple of things for the stubs of this week which is
probably fire. But we also have G Man. I think he's in the studio. I can't see the studio in the new restream stuff but I'm assuming he's behind there because I saw some comments he's on stage right now. I definitely want to talk about what happened with the crypto punks here today in the event because that looks really cool. There's Katie. So I'm gonna go to Katie. G Man, give me a second and and I do want to go to Katie first though. To to present Red Room the
artist for this week's doors. Because you know this is fire. I mean, just look at the little. Just look at that little thing on the screen right now. It's so cool. It, I mean, this is sick. I mean KD, talk to us about talk to us about our artist this week for stuff, baby. Yo, what's going on? I hope everybody can hear me Good. Yes, Sir. It's been a while since I've been up on the space love that I can continue to bring everybody art through.
Stubbs, Red Rum is is in here. You guys can see him in The Listener. It's got a mostly red PFP there if you want to click on his profile and check out the stuff while I'm talking. But there's a little bit of a language barrier here. Red Rum is not a native English speaker, so he gave me a little bit of a write up that I'm going to share. There on his behalf. And and then let's hope that you know, that gets a lot of things
through. But Red Rum came from a family of contemporary art collectors, and from an early age he was accustomed to going. These exhibitions in in meeting various artists there growing up like many who kind of like begin their their their work in in the art space. The art path intrigued him but in the end he ended up choosing
law school to become a lawyer. Kind of following that like like many people in this space end up doing and and choosing like a sort of like business route, but abandoned in that the possibility of becoming an artist and and continuing to cultivate that passion in 2022. So Red Rum was already active within the crypto and NFT space as digital arts slowly became began becoming natural evolution of art.
And in June of 2022, he learned about Mid Journey and that's where he says his life took a turn back into the art space. He then created the Red Rum, artistic pseudonym, and in red he says he found his distinctive mark in order to make art and and kind of elicit the emotions that he was looking to elicit.
An AI gave him the opportunity to make his thoughts tangible in regards to what he saw and what he wanted to convey, to be able to then present a worldview that was his own to collectors and other people that are going to go out and, you know, kind of intake his work. So Red Rum initially started minting work on Tezos. That's actually where I discovered him. Like many of the Stubs artists, I actually got his his first piece that he did if if I recall
correctly. I think I'm like 95% sure on this. It was actually free that basically he like offered over the timeline that like I'm going to admit my first piece on Tezos and anybody who wants one of these additions reach out to me and and I'm. I think he did something along the lines of like. Reach out to me if you want one and if you're a person who I think you're here like like authentically and organically like I'll give you one basically.
And and there wasn't anybody that I really know of that like didn't get one. There was probably like 15 to 25 total additions on that piece. But that was kind of the first moment of minting work. And that's really where I discovered Red Rum for the first time too, of around the when this AI boom was really hitting late in 2022, and from that very
first moment. Red Rum says he understood that he had to create something that represents him and distinguishes his work from others, with the goal of creating art that stands as a lens on the world, a world reinterpreted according to the symbols that are distinguishing to the story that he wants to
tell. So this is borne the creation of a world, a strongly dystopian world inhabited by grotesque beings that stand as a deformed alternative to the world in which we currently live and which the simplest concepts are exaggerated. And taken to extremes, he says he finds inspiration from a great number of things. Pop culture, diverse literary, artistic and cinematic works, and also drawing from everyday life and his own experience as
well. Within a short time, thanks from support you received from any great collectors and supporters, he transitioned to Earth first on Foundation and then shortly found himself on Super Rare. After being accepted on Super Rare, Red Rum also became a founding artist with 0X. Avalon and he wanted to throw out some special shout outs to Pizarro, Art Crush, Super Cheap Gallery and the Art Innovation Gallery for exhibiting his works on screens all over the world.
He says that 2023 has been a banner year for him so far from an artistic and professional standpoint, and in April of this year, he decided to give up his career as a criminal lawyer to devote himself full time to creating art. They're also He says there's other important news coming before the end of the year, but he cannot communicate them. Ohh come. On tune?
Just kidding. The last thing that I'll kind of share on his behalf is is he offered a couple works to to kind of profile as far as significant works, His favourite of his own. This is actually kind of a rare thing to hear from an artist is when Red called me. I believe it's on super rare, but this enshrines the moment when I realised that my life had to follow in this artistic direction strongly linked to the colour red. I guess this piece also was his all time high, another important
work which he says is unsold. At the moment is Red has one which is on super rare and this depicts his career transition from lawyer to full-time artist. And in this piece, many references to the legal profession he says can be noticed. But that obviously takes a backseat to the red that is like enveloping everything.
And then the last one to mention is a work that's on foundation for one ETH reserve that's called Wanderer Among Red, which is his latest one of one that that was minted here pretty recently. Wow but love that this very well read and said and I'm looking at the Red has won which is 6. That's the latest piece. And you know if if you haven't seen it yet you should definitely check out the stubs
this week. I mean it's called the wind of change and it's sick piece and so you'll be able to get it. The code the code was just here it was something. London Foggy London. Let me see. I think it was it was passing through a screen. Look if you want the codes you got to watch the video. OK, so the the, the. There's no clear required for stuff. Sorry, but this further rock coats as foggy London town. But check it out.
Go to rock dot FM first Stubs or you could scan the barcode that we put up there, which makes it even easier. That was just on there, out there. So thank you so much Katie for coming out and and then putting Red Diamond. Exciting, exciting, exciting artists and really fire arts. There it is. There's the barcode. So easy. Just a little scan and you're done and you're ready to go. The Ghostbuster. I love that.
Thank you, Katie. Alright, well, last but not least, his G man in the house is in the store. Is he just on spaces? Yep. Ohh. Hold on, Hold on, Hold on. Hold on. Hold on, hold on, hold on. We have the code double CEO of Friend Tech in the house. She man, hold on. What's up? When did you become like different tech? God, I was just talking to, man. I'm like, did you know this guy is like Juan Ethan, FTA's always like what? And I'm like, yeah, dude, G, man, I found out this weekend.
I was like, let me just see what games I was talking about this thing. First of all, notice. Immaculate in my chat. Don't have my key. That's the 1st order. It gets better trading our friends, right? So like none of us hold each other as far as I'm. Ohh, hold each other. I have Mando, he has me, we have Ovie, has myself, these thread, Guy Locksley, everybody. You're too expensive for me, baby. But. OK, so when I saw that, so you're like the king of frantic
now. I wish I'd love to see and you deserve it because you're you're packed with value and you're awesome. But thank you. You're here to talk about the Crypto Punks weekend. The crypto punks meet up that just happened on September 30th at People's Studio. So we were there together actually last in Charleston for the People studio opening, which I remember saying the shows one of my favourite moments in NFT's
incredible time. We were ranting and raving about it for weeks after that, but you got to go back. Well, I was in Spain with locks, took locks captive and seed phase 2IN Marbella in Spain. You went with thread guy out there to the crypto punks meet up. So. So give us a TLDR, man. I mean, it looked incredible. It was. It reminded me a lot of the first event we went to. So going with Thread was amazing. It was very similar to going with you.
Showed up early, got to meet people's team, hang out with people, do the whole interview, walk through, be on the lookout for threads video that's coming out in the next day or two. Like he did probably 45 minutes with people, full gallery. Walk through a bunch of stories I hadn't heard before. He played Mario Kart on Nintendo 64 with him. I mean it was an insane interview, so. So I would definitely be on the lookout for that. I mean, people knows how to throw a party.
The biggest difference is the gallery wasn't open to everyone that came this time it was just the other room, so the gallery was closed. If you weren't there early or new, someone no gallery, walk through. Ohh wow. OK, the gallery is a fun part. Yeah, Gallery is amazing. And so again, I'm assuming people like you know knocked each other out for some paper
punks. So it's really funny he at first they wouldn't say everyone was asking what do you drop from the ceiling and they're just like yeah, you know maybe and so right maybe an hour before he started warning people there are more than enough to go around please don't punch anyone in the face. Don't throw elbows and. So. And so he did drop a bunch of different punk configurations. No one really knows what the end game is. I can tell you thread got a #1
rarity and he was super excited. And he went to people and he said, Oh my God, I got the number one. And he said it is number one of the set, but there's like a hundred of those. So don't don't get super excited, Thread. Yeah, I've seen that. So we saw 6529 speak. I mean, that was I was in Spain when Danny had to go use the room to talk. And I was like, I was like, should I walk in then my towel?
I was thinking of like walking like in a just naked in a towel, just walking behind acting dummy Ohh shit. And Danny was like, do it, do it. But you know, I thought it was more of a serious event celebrating Parks. I was like maybe, maybe let's not like give this thing. People already think I'm goofy. The fuck But But how do you look that serious, man? Didn't look that serious there people like. What? Was what was that person I saw like grabbing things from the sky like?
I know I'm not gonna say who it is because I don't want docs him, but I saw that video was crazy but but. Celebration of punks, though, right? Like having Matt and John on having Jack there. Who was early? Having Danyon and Von Mises, like all these people that have like got us here like before, punks were a thing being around. So it was. It it was really amazing. And then of course, people that go to these events in the depth of the bear like they're they're
on a different level, right? It's just like you said. I still believe I'm still showing up. There's not that many of us left. So like the ones that are there, like the bonds? It it's every level you're hanging out with Jack and he's no different than someone who's you know smaller down the scale of like notoriety, but it's like still here getting it done and. And like bats, bats do coming and and doxing to everyone. Like you know these these IRL events are like must, must
attend I think if you can. I know it's hard for people, yeah, but like if you can make it work anyway, like these are so crucial. That's cool. I'm gonna, I didn't see my punk on any pictures. I've been look trying to look for it. I just don't know where it is on the 10,000 thing NFT. Nick sent me a photo he's like, I got I I got your paper punk. I'm like bro, that's not my punk.
And he's like, fuck. So he was texting maybe he had a couple of drinks over there because I know people know sass to throw down with the open bar. But look it looked really amazing. I love that you were that were TG early and and I got that vibe too by the way watching TV's face I was like I I was like it feels like how is like how I felt. You know he was hyped, was like ohh, I'm interviewing people and I also did the live thing with
him. He told me some crazy stories, so I thought, I thought that was really cool. It was really inspiring. And did we get any alpha on like his next event at all or did he share anything? What's What's up next in Charleston? No. If he did, I didn't hear it. I mean there's a lot that I missed. There was so many good people there and you know you chat with 1% of the amazing people that are there. So I'm sure I missed the whole bunch, but I'm glad I'm only a
three hour drive away. But like when people throws up event, I will be there. Like if I'm allowed to go through whatever token gate is there like I will be there. Yeah, it's it's really, I I would have, I'm going to tell you if had I been in Canada, I would have 100% flown for that event because I also love Charleston. It's lovely city. I really recommend. That's one thing I would recommend Americans like. The food's amazing. People are great.
The hotels are sick and they're cheap like all of Charleston. Just an amazing vibe and it's really, really cool and and Mike is just such a humble so that you know you know he's humble you know and and he's killing it and and it's just been fun to watch all this and again one of my favourite photos this weekend before I take off was the one that you shared with you and TG just waiting you know calm before the storm. It was just a great one and it's just good to see you though.
And one last thing I guess I wanted to ask you, did you get to meet? And John, that's two people have never met, never interviewed. I had them on. I had them on my my clubhouse from once early on, like Matt and John came, I was like holy shit and then freaked out. But I never got any interaction aside from like, did you get to talk to them at all or? I didn't. I didn't run into them. I ran into Frank the V1 Punks rapper guy. Yeah, yeah, Frank.
Super chill, awesome guy. And you know, everyone's like, Oh my God, you did this great thing. And he's just like, yeah, someone had to do it, you know, He's like. Super chill. So that's a related thing, But no, I didn't get a chance to next time, right? I would love to talk to those guys for sure. Yeah, yeah, that's maybe on this show. Maybe we'll get them on the show and do alright. Gee man. Well, thank you for coming, Pops. I mean, look, we are still looking to make that Frontex
special soon. So I guess we're gonna need you because you got all that alpha, you know you got all that alpha. Amanda, if you're looking for extra Alpha is your man. This is your guy. So everybody's fog man on Twitter. G man, Underscore E that's Pops, AKA the man. Pretty much building all the tech. Hand Rock Radio, by the way. Building we're building. You can tell by the by the beer just getting longer and longer. For like you don't have time to
like do anything. Like you work and every time you're not working your friend talking like this, this is how it this is just this is part of the fallout. But that I gotta reach out to all that. Thank you G man. Appreciate you coming today. Ohh short daughter. Thanks pops. Better. Bye, bye. Ohh man that was fun. Maddow, great show today. I know, I know we we went an hour but it was some great topics, totally worth it, totally fun.
And I guess man, I'm going to see you in like 5 seconds. So I'll see you on the other side of the door. And with that, with that, with that, we will see you all tomorrow morning. Just to remind that our show is powered by Kraken NFT, if you go to kraken.com/rug radio or scan the QR code. And the top here you can go and check out what they're all about. Love that team over there and doing. And stay on the look at this week. If you're in London all three of us are here.
That's what we're all in the same city. We're Speaking of Zebu live on Thursday and Friday, I believe, but we'll have more updates for you. We all posted on our timeline today. We're also talking over here myself at the Saatchi Gallery where he's actually exhibiting his work, which is his first time Sachi ever has an FT. It's a big deal and a lot of collectors are going to be out there. A lot of curators is going to be out there shot to greet us.
So Greta will be coming live tomorrow with us. Also the Zebu team, so we'll talk more about this, but be on the lookout for those lot of fun with that. With that, with that, we'll see you tomorrow morning 10:30 AM Eastern Standard Time, 7:30 AM Pacific Standard Time for another episode of GEM Web 3 on Rock Radio. Let's. Go.