Yo-yo yo-yo yo what up, what up Good morning, good morning DMG Monday, January 42nd 20245555 Definitely a February 10th, 2025 look at that. Another beautiful day to have a beautiful day. I got my coast in the house. Tyler Mando, good morning boys. How you doing today? What's up brother? How are you? What's? Up brother, you good? Feeling fantastic today, Mando. Yes. I like that. I like that. I like. I just bought some fart coin the other day. You want I love that this guy
bought again. Mando did Mando's mangoes, baby Mando's mangoes. These guys Bias, you know, Bias bought some fart coins. It's Friday morning, Saturday. I forget it's one of the mornings you texted and you post it and look at that Sup a lot. You know, never misses that misses. Tyler, you had a busy weekend. You're going to be busy today on this show because I was tapped out. So you're going to have a busy show today. But Tyler, how you doing this
weekend today? I'm good for the first Monday in a month. We're not bleeding red. Wait, don't Jake say knock on wood, knock on wood, knock on wood. Yes, yeah, of course, anything could change in any minute. But a little bit of green on the board this morning, We'll take it. Hey, could this be a paradigm shift plus vibe shift plus new paradigm plus? It was that copy pasta I remember we had at some point like this plus this plus that.
But look, it does feel good. Hey, could it be that sellers are exhausted? Is the meme becoming a reality? I was thinking about this last night. Well, let's talk about doing the market anyways. I was thinking what? I was like, hey, and like, who else is left to sell? I mean, fuck stables. You guys talk about stable coins. You, you guys are posting stable coins higher every single day. I'm like, dude, how many more stables can we have? There's more stables than meme coins right now.
Valued. Anyways, let's talk about that in the midst of market today, Tyler's top 1000 and there was a lot like big balls, jail stool, Central African Republic or some shit, which obviously ended up being a hacker, whatever. We're going to talk about all this stuff because that was insane. So the left curve corner today is going to be fascinating. And last but not least, do so as powered by galaxies. I you know, in school I used to remember all these poems and stuff by heart.
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Check out fair side network on X. If you get drained, you won't get wrecked, man, though let's get right into this market because it's it's, it's definitely interesting right now. Who is the? Man, that GoDaddy of the man. Can you dig it? GM everyone, we had a great weekend. Bit of a mixed weekend I would say for price action here in crypto. Bitcoin is still hanging out, kind of just below 100K. Been there for well just over a week now, 10 days. Looks like we're heading up to WE.
We broke below that level on the 1st of the month. Now on the 10th. The last couple days have been slightly more green. It looked like we're about to head lower yesterday and then we kind of bounced from A95K area. Salon has been slightly outperforming over the last 24 hours. Bitcoin dominance is still up around 6062% though. So yeah, still still feels like not a great market, at least for alts on a broad, broad basis. Over the weekend, you just again increase, I would say in the
velocity of memes. If if you literally logged off on Friday and came back today, you might just have not realized what's been going on. But memes just go to like 300 million and then zero within the space of a few hours. It feels like in this market and that's kind of how people are adapting a lot. We it's all red in the number of like the left curve stuff for the majority of the weekend.
Stuff is bouncing again this morning, but it feels like people are still very worried to own anything for more than a few hours this weekend. I mean, I'm sure we're going to talk with Tyler, but there was 3 or 4 different runners. One of them went to all the way up to nearly a billion dollars and the other? One it it kissed it, that was. Crazy other ones all went up to hundreds of millions.
Huge volume in them. So the trenches are not dead, it's just that people are very, very, very wary of of holding on to coins it feels like, which is not a very nice environment I think for a lot of people. You know, a lot of people don't want to have to be looking at stuff 24/7. They want to be able to chill for like a few hours.
So what we've seen is a big move again towards stables, towards majors, Bitcoin dominance going higher just because I think people are losing money or they recognize they don't have much of an edge in in this market unless you're there like 24/7. Interestingly, yeah, we did see soul stable coin supply flip meme coins. Now what does that even mean? Yeah. What does that mean? Before in November, sole stable coins was about $3 billion and sole memes are about 24 or $23 billion.
So so you have can. You repeat those numbers. So right now they are. We can bring them up. It's a 12 stole stole stable coins. 12 billion. Yeah, and memes are 11 in November. Stable coins were about around 3:00 and memes are about 2425. My God so memes are down 50% while stable cone supply is up like 4X. Exactly, so this used to be about 6-7 X difference between the two of them. My goodness. And what we've seen is people have pummelled those LP's and seemingly moved to stables.
So Seoul TBL actually hasn't changed like a huge amount over this period, but you've just seen a movement away from meme coins and and mainly into stables. So very interesting dynamic there. Obviously this is a market and to be clear, 3 billion of that is come from Trump. So that figure is really. So it's. Really not that much.
It's really like 8 billion. So you've really seen here is is is soul memes, assuming Trump hadn't come, have gone from 2324 billion down to 8 and stables have gone from three up to 12. So a really crazy move that now I personally think at this stage that's pretty. Bullish. Yeah, it's very bottomy, right? Yeah, stables on Ether are much higher, but they they it's a normally chickens on ether, right. Whereas the majority of the money on Solana, it's casino money.
Like it's, it's used, it's yeah, it's all, it's been casino style money. So it's just a very interesting term that like people are just don't see value in in meme coins anymore. You know what? Bunk and Trump are nearly 50% of that figure together. Well, no, remember, because I just said Trump. That's excluding Trump I. Just oh, the 11 billion figure excludes Trump are ready. No, no, that includes Trump. No. So that's what I'm saying. So right. Yeah, yeah.
It's just sorry, it's the 11 figure. It's a third of it. It's a third of it is just Trump bonk. Wow, 40% of it. Yeah, it is. It is pretty wild. And just to, to to put that again in perspective, just Wiff and Bonk were worth 10 billion back in November together. But with for 7 billion for a hot second on all the meme. Coins. All the meme coins on on Solana are now worth less 20% less than just WYFF and bonk were worth in in OK lose Trump right? So it's it.
I mean these are figures. Everyone has felt this for a while. But if figures probably at this stage make you understand like how bottom me this has started to become or like how bad this is this has become. P9 is 170 M. Right. Exactly. That was 2 1/2 billion back in November, so. You could you just. Forget like how high some of these things were. It was a really crazy time. Then Bonk with peanut pop cat was 2 right It yeah, a really, really crazy, crazy move across
the board there. So I, I think, I think this week, I mean, we can continue to pummel these coins, but I, I also think that people will probably return a little bit more just because the pace, it's gone even quicker than when it was with Trump, right? Like the pace of memes. I actually think it's like hours now or minutes you have. You. You're not on it. You're out. Yeah. Don't even try. Like you're just not in.
You're out. You. Know so so and I think people in that world will realize that like yeah it's then there may be some value again here. This does feel a little bit bottomy when I saw that sort of figure right like how down but how much those stables are those stables will will eventually return to the casino in my opinion or a lot of them will be dragged back into the casino. So I, I, I quite like a few more of the risky bits of the market here, but let's let's see what happens.
And then it's. Like bigger, bigger news, Bitcoin, Bitcoin adoption just just continues to skyrocket. This weekend we had, well, today we had Japan approving a bunch of Bitcoin ETFs and lowering crypto taxes. That that's huge. I mean, Japan moving towards, it's a very, very big thing in my opinion. Metaplanet, which is kind of their answer to MicroStrategy is committed to buying 21,000 Bitcoin over until 2026.
And then you've had now I think Tyler mentioned over the weekend, 22 states, 22 states have now proposed Bitcoin reserve bills. And then you had various from people coming in and Klarna, which is probably one of the bigger ones has come in and accepted Bitcoin payments. So you're seeing adoption there across wow trees, states, companies. I think the University of Austin even did a Bitcoin going to buy 5 million of Bitcoin like. In I love that. Yeah. So it's going to be a big, big move.
So this this is like disconnect, which I think a lot of people continue to point to between Bitcoin. Well, I would say institutional crypto and crypto Twitter disconnect, which was a tweet, was it, you tell, I know I retweeted it, but it was Matt Hoogan from Bitwise that tweeted last week. I think that may have brought up Friday or some shit on the show, but it was it's this one, right, man, that's the point you're making.
There's an absolutely massive disconnect between retail and professional sentiment in crypto right now. Retail sentiment is the worst it's been in years, while professional investors are extraordinarily bullish. It's like living in two completely separate worlds. And I think this is a sentiment you like us 3 have kind of been feeling and we talk about it a lot like we feel very bullish, all of us, and we see this and I feel like a lot of CTS feeling
very bearish, right? So I think this was a good kind of like TLDR of how the the state of the affairs you're in crypto. Yeah, it's tough. I mean, so you, you've got a retail buddy who learns you're in crypto and then he asks you what to buy. And if you tell him Bitcoin, he just kind of looks the other way just because it's like, all right, maybe he's got 5K to invest and he doesn't want to buy. .5. Bitcoin So what they do is they go down the risk curve.
Anyone who bought Trump on central exchanges is down. Everyone. Anyone who bought Portnoy's coin on Kraken yesterday is down a lot now. So like that just keeps happening. And so anyone who's the main coin streaks from retail is getting is getting hurt pretty bad. And now they just, they're just kind of turning away. I feel like it's kind of what's happening. What solves this? I saw a few conversations on the timeline regarding how it's changing to list faster.
Like like people were giving hyper liquid a lot of kudos the other day. What was the coin you listed right away that the more volume than the Binance doesn't mean coin got listed Friday. Big one TST it was in TST but we should talk about TST too. By the way, what the fuck? Hyper liquid was very quick to list the coin on Friday and it was doing more per volume and hyper liquid on Binance. First it was Berra. Sorry, that's not a meme coin I
guess so it does not count. But yes it was better. But I guess still similar examples. Like people were talking a lot again about how mean exchange needs to be faster on the listing side. Like how do we fix this because retail continues to get wrecked or retail just needs to adopt Moon shot only and moon shot did pass Coinbase this weekend in the top App Store. Like what's the solution to this? Right? Retail continues to take ALS. Yeah, I don't, I don't know the answer necessarily.
It's tough right? Should the exchanges have an arm that's like cracking plus or Coinbase plus? I don't know. I'm just trying to think like that auto lists things or auto indexes auto like or but then what's happening on the regulatory side with the exchange like how do we fix this? Well, that's. Been saying right. They basically said we should just list everything. We can just list Coinbase. Oh, did they say that?
Brian Armstrong said he wants to move to try and list everything it. Should be a dex. It should be like a dex. Everything's there. You trade through, you trade through Coinbase wallet on Coinbase to to if you want to buy DEX coin. So yeah, that's what they said. They'd still be some sort of. They'd still be obviously, like a. Well, like a trick list like on Jupiter.
Yeah, there'd be an on boarding process to get onto the actual main sex, but but the the the idea is that anyone should be able, you should be able to trade any coin on Binance or Coinbase. They should have like a dex arm. Does that make sense guys? Like I mean, or we just start supporting moon shot and all these apps more and Jupiter and shit like that and Phantom like I think. You're aware of this? I do.
I think they they actually, they see suddenly that their biggest threat right now is that dex volumes are soaring even while sex volumes are not going absolutely crazy and the majority of users are suddenly on chain. Yeah. Nobody wants to get wrecked also by market makers on a sex, you know what I mean? Like let's look at far coin. Far coin is like arguing like
the most popular meme right now. Let's say put it that way, like or like in terms of like that we can compare to like you have the 24 hour volume sex one O 8 million, the X 120 mil even sex. I'm surprised that far coin is $108 million on sex, like which sex they're doing that on. So you know what I mean. So I think it speaks for it speaks volumes to that. Can you click the sex? What sex anyways?
My volume. It's doing big get 15,000,000 a Kraken 5 Kucoin 11 Mexi 15 gate, so gate dot IO actually does so gate dot IO has become like really big this this last few months. They're consistently one of the highest exchange volumes in the game, top five S 42. No color on if it's market makers and stuff like this, but I don't think so. But what's happened? With this jail still token. Sorry, I just interrupt you. But I think we should get there. Do we?
Do we want to go to Tyler? Are you done, Manda? We can start with jail still. That's what people are saying. I don't even know it's speed right to. Zero right now. I don't think so. I can explain what do we want to go right to or do you want? To get an 80 down 81% as. The last 24 hours. Yeah, we'll run through some headlines real quick and then
talk about jail stool. But some big news over the weekend crypto majors First off green this morning despite tariff concerns, Bitcoin leading the way. Japan's Financial Services Agency to revise their crypto policy and lift their ban on crypto and ETFs huge news Metaplanet sharing plans to buy 21,000 Bitcoin by 2026. That is a believe the Japanese version of MicroStrategy. Sailor meanwhile, bought another 7600 Bitcoin, $740 million.
So he's back and buying big FTX. They're going to start repaying customers February 18th. That is next Tuesday. Those Stemies are coming. As many I mentioned, 22 United States have now proposed a strategic Bitcoin reserve bill. Utah along University of Austin bought $5 million of Bitcoin. Notably, this is what they said I'm quoting. We don't want to be left behind. That is going to be the mantra of everyone who capitulates in over the coming months.
And token AirDrop and protocol news Pump Fun reportedly planning to launch a token, may adopt A Dutch auction model. This is all according to the Wu blockchain account. Allen has not confirmed this, but some big speculation there. Myriad smashing new records, 25,000 sign ups yesterday, 82,000 union visitors on Sunday. Ahead of those upcoming USDC markets. We're excited for those in hyper liquid. You look at the hyper liquid market share and perps, they are eating the market.
They passed 50 in the past week. AI, crypto overall market cap $6.9 billion. Most leaders are actually up about 10 to 25% on the day, but they're pretty volatile. They're kind of just going back and forth this accelerate now. They launched their 2025 road map focused on building their accelerator tokenomics and partnerships and then totally plugged this new Whispers AI product with the tagline they put they put crypto into the phone lines.
That did lead to surge, lead to a surge in the WISP token, though it has since reversed a bit in memes. Let's see meme coin leaders were actually read this morning. The jail stool token is taking over the timeline it's tied to De Portnoy briefly hit $200 million yesterday. It's now at 36 million after a spaces this morning where he apparently said he is still considering own token.
The market did not like that. We saw this pain token trade near 400 million on premarkets, of course, on low volume. Take it with a grain of salt but that would be a huge return for pre sailors and then this nation state memcoins. Cao. That was quite the debacle. But that is the coin that ranched here. A billion yesterday. It was heavily bundled. A lot of red flags tied to this one. I'm not if it's real or not, but it's trading like it's not real
that way. I mean, given the latest information, I think we could almost assume it's not, But it was. I got to tell you guys, and I want to talk about just so. But that one was funny for me because, like, it was an African nation and like, the whole speech was in French and like, it was just hilarious. Like I was just listening to the thing, like just dying. He's our country. Help us? Yeah, Help us understand why was it so funny?
It's just like. I don't know, like, because when you grew up in France and like in French system school, like you study, you get taught like all the like the different African nations and the study of like all this stuff. And it's just like the guy comes on and does this like speech that's like just like, so I don't explain it. Like I was trying all night long to find comparisons so that you guys could understand like what it would feel like it's like,
but like there's no comparison. Like it was just so, so, so funny because it's like, you know, there's a lot of corruption in some nations out there. And like it just sounded like the guy was just straight up committing like a crime while he was speaking. Like I just, it was, it was like that. Like it was just like, it sounded like the country was like getting ready to rug crypto folks for fun. Like I don't know. But it's but now I don't know. Maybe it is deep fake AI, whatever.
The background clearly was fake. Like you could tell it was like fading. It was like 1 of Mando's backgrounds like this like looks real, but when he moves, like you can tell it's not a real background. But I don't know, I thought it was hilarious. And that went to a billion. That was like speed racing to zero. We should talk about all of them. There was big balls jails. Tool and thing. Let's start with jail tool though, because people are listening to us now and this is
happening right now. What's going on here? I'm I'm seeing some tweets from Easy and everyone, I mean, they've been at war with Yeah, so. What's 200 million yesterday? Couldn't really get past that level. Dave said he was going to do a halftime show, halftime spaces. The token kind of chopped around 100 million until his show. The announcement, he didn't really have a huge announcement really. I think the token got listed on Kraken within 24 hours. It had 100,000 holders in 24 hours.
So it, I mean, a lot of people did jump into this thing. I did not listen to the space this morning. From what I have gathered from folks who were listening, basically he was kind of railing on crypto Twitter saying most people are are just idiots cry babies. And then he also mentioned that he still is thinking about doing his own coin and folks did not like. That let's listen to this this this some DDTG, right? Oh, oh, oh, OK, OK, hold on, hold on, hold on.
Let's what what is going on here? It looks like there was a crash out moment here on the stream. Let's see. We can't hear it, but. So, so the the list, the spaces heard it right. It's YouTube that couldn't hear or or nobody heard it. I I'm not sure. I know he. Was going off on choose Rich. He's calling. Choose Rich's scumbag for like calling. Choose Rich's scumbag saying that all Nick is texting him on the side offering to suck his Dick.
That's not me saying it. I'm just repeating what David said before you come in and and stuff like that. Fantastic. So I mean. Good vibes guys, good. Vibes well, let's let's clearly say so I think there's people are asking did he rug like by definition of rugging? No, I don't think he did by. Definition did not rug. I don't believe that he's sold any. Unless he's sold.
And again, I am not, I don't have his wallets pulled up, but I'm pretty sure that if he would have sold like this thing would be at 0, not 40. It's down 7%, but. The one thing I would say is I this is my favorite way so far of celebrities getting into crypto. I have to say that, which is like adopting an existing token. Yeah, but what happened, Mando is on that DDTG. So he did it everything, I guess you could argue right so far.
And then he says he may he's still thinking about launching his coin, which is why it's just. Tanked. That's an issue, yeah. But This is why this by the way, this this is because of that, right Tyler, you create me from. The sell off start selling office. He was just like kind of being an asshole on the stream on this. He has been quite a I have to say, and I'm I'm calling for someone was a bit a fan of his like I was like I was telling Tyler earlier this morning, like 2020.
I notification on Dave following AM CGMEI was a moon boy with Dave Portnoy, listen to every DDTGI had it all and like whatever that's called Dave Portnoy like that. Like I like the guy. I'm a huge fan of Barstool Sports and the business model, which is really cool in media, but like he's been kind of a Dick to the crypto community guys. Like he's kind of been like, you know, I want. To talk about the methods. So like I actually agree with Mando.
That's part of the reason why I bought it. In disclosure, I I did buy in on Friday night. I still hold some coins down quite a bit from from where they were yesterday. We were bracing with a few folks, like, what would be the best way to launch a meet the Fairest way? Because everyone's concerned. Like if he launches, it's going to nuke all of our tokens, blah,
blah, blah. And one idea that was someone pitched was you launch a token, you don't tell anyone, you let it die, you let all the snipers get out of it. And then once everything's settled, you kind of start running with the coin. And in some ways it's kind of how Jail Stool played out. Someone else launched it, Portnoy adopted it and started when it was a low market cap take out. So it ran to 10 million and then it it dropped 70% in the first few hours back to 3 million.
And then he kind of came back and endorsed it like, hey, I'm going to run with oh, because he sold it, right? So he sold it said he said it was on accident. And then he re bought the coins and more. And he's like, yeah, I'm going to run with this thing. And then he he was kind of making it more into Saturday and Sunday that he was actually going to run with it more seriously. And that's what pushes the 200. It couldn't really get past the 200 number.
And then it's like, whatever he was doing last night. So he launched merch. He said he was going to take the funds from the merch, rebuy the token. That didn't really move the needle too much. Telling you being being a meme called dev is not not for the faint hearted. You're doing pretty good. We should talk about you in a second because your your shit's pumping hard but. Not for the fan, but you got to but. Yeah, I mean, if Dave Portnoy
can't pump a coin past 200 like. Dude, so let's let's talk about this guys like because you told me I I made that .2 in the weekend right Tyler when I was popping in and out like this, this 200 two 150 million mark on Solana. That is just like so hard. That's why I have my line here because I was like let's see if it reaches it one day at all time. I it's like impossible to beat
to reach like it's gone. Like if you guys remember Jelly Jelly, like 250 dead, 220 Ms. become like extremely hard ceiling to pass. Because like back to the point Mando was making at the beginning of the show, these are daily tokens. These traders, like let's say the trading groups like Franks and stuff like that. These guys aren't holding past 20 and they're on to the next token because they're smart actually, because right, you don't become a community member of Dave Portnoy's.
So I don't know, it looks like there's that's the hard, hard ceiling at this stage. Guys like no token managed to stay like even the car one. Let's talk about that for a second. Sure, it went higher, but you know, it was like 95%, like, Oh my God. This is a bad one. You would just have no idea. You would see this coin and be like, oh, OK, it's 100 million. That's crazy. Like it went to 900 mil. Those initial candles, dude, look at within 15 minutes there
was a three. Within 45 minutes is at 300 four, 100 million. Like I was online last night, this didn't cross my desk till 390. It was at 390. Million same. So 450 mil on the 75th minute, yeah. Thank you. What so the only people who ate on this one of the people, I mean Frank did he was up over he made I think he cleared over a million. The people who caught it early, they're very. Very bought it three days early. What did Frank do again?
Happened to be tweeting about it three days early I. Don't know if this one's real or not. What's the definition of real? It was like it was like 95% bundled. So once people figured that out, that's kind of what pushed the second leg up, because then everyone's like, oh, the actual one it is. I got to go gents. See you. It's Amanda so probably so easy saying probably shouldn't have
referred to lodge holders. Mutants also probably shouldn't have yapped about launching your own token right after say you were buying 120 K and only buying 32K. But you refuse to acknowledge anyone who's active in the space and let your ego only go trip drop the chart faster than your crypto credibility. I have to say, like, not a great look, you know? Not a great look. And now it's just like, how's he going to come back from this? Because it's. Going to be tough to.
Buy back in and anyone who bought on Kraken is now down 70%. Why is he doing it like this? Like, to be honest, you have all this support. Like, I know they're cracking people. We work with them, right? Remember they used to sponsor our show like before. You work with us, Tyler. Like, they're a really fucking amazing team. I talk to them all the time. I'll be community close friends, good people. And then he Portnoy does something this like he's had it all going on.
Like remember, like it was kind of like at first like, oh fuck, he's pumping, dumping slow market cap. So maybe we could have argued that. Then they started planning cool stuff, not they cracking. They like Portnoy team. Then they did this jail stool thing, which you're right, by the way, Tyler, in retrospect, finding a debt coin, taking it over, buying supply with your own money, Chad, like alpha move, but then he crashes out on the Monday morning on the first Monday after the thing.
Like why? Like there's no need bro. Yeah, that's why, I mean, I, I gave it more time because I wanted to see this this weekend. Yeah. Like it was the Super Bowl. My read was derung with the coin. I did not have the read that he was going to come out and just dunk on everyone and crash out. But like, why? Like also like I'm kind of like I like Dave, man. I like barstool so I don't want people think I'm hating. Just like, why do you do this?
Like I didn't. I also love my industry, us and what we do better than I like barstool and Dave. Like I don't like how they treat us like this is like he's just like calling us on mutants and retards and fucking morons and this and then I was stupid. Like fuck you, dude. Like where are the people moving the needle in a new like paradigm? You know what I mean? Like, I'm tired of being dunked on by these people, you know? Yeah, and I've been, and it feels like it's all tied to the
meme coin sector. Like if I'm being brutally honest. Of course. I I talk to that a lot. I trade it a lot. It's like that's where all a lot of the action attention has been. But it's definitely like becoming more of a black guy. Like, I can't, I can't argue that. It's like a non-stop dude and then your homies Tyler, like in the USA, obviously they all know Barstool Sports because barstool is the biggest fucking shit.
Barstool is sick. I love barstool, but then like they listen to this and they're like, oh, these meme coin guys are are stupid. And then like and then they blame us like Nikita the other day. I like Nikita beer, but he's like, oh, I don't blame anyone for not launching meme corn. Look at how these meme corn guys are reacting. Maybe don't cause the thing in
the 1st place. Like it's like pure gaslighting, you know, like the Jelly Jelly guys are like now blaming the bit, the meme corn traders for having such short. Yeah, no shit. You know, it's like going to the casino and the guy's losing his money. He's like, ha ha, loser. Are you saying come to the casino? Say what? You know, I don't know. This current meta with everything running up so far, so fast, it's just we've seen the mean points to do well over time, right?
It's like the whip, whip was 16,000,000 like 3 or 4 weeks in and then it was 30. Then it was this these new metas. If you don't buy a token in the first hour or day, it's already at 100 or 200 million. And then and then at that point like there's every inters is going to lose 70% and then then you then no one's having fun.
The money is just evaporating. Yesterday, 800 million, I had people kept texting me that I'm fading the Central African fit because I, you know, I tweeted yesterday I was like, oh wow, this thing's GDP. And then I tweeted about how I'm, I'm taking like a weekend off, which probably really good by the way, but like off trading. So I would only tweet and then close Twitter. That was my rule. I come in because I wanted to yap a little bit, you know what I mean?
And then I do want to leave. And and then yesterday I was like, well, I miss big balls. I miss this, I make that. And this guy's like, what? Are you going to keep fading, Carl? I'm like, fuck yeah, I'm going to keep fading. It's 800 mil. I'd be fucking down so bad right now. How to listen to the people saying I'm fading? And they probably have the bag in round trip. So there's lessons in there, Tyler, you know? I was, I was similar to like I was in like we speed around the
emotional cycle. Last week I was passed anger into like indifference and I was fine. Just like not being in the trenches and missing the runners of the day. And then like the port noise stuff happens and then I get out of my indifference and by jail stool and then I end up trading a little bit this weekend. And the reality is I would have been better just not trading anything. So and, and, and then I'll end up with that. Then you also have a mental
strain and it's Monday morning. You got to work all week. You know what I mean? It's like I'm using an example because you're saying you, but like, that's the thing for me, it's like I wake up Monday, then like I have a business to run. You work too. Some people do this as a living. It's fine. Like that's all they do meme
coin training. But like imagine wake up on a Monday burned from the Saturday Sunday you lost money or a round trip and you fucking and now you have to go to work for five days straight. Go back to your fucking nine to five pissed off mentally burned. Like I think we need to talk about this like this is crazy, right? Most people would have round tripped this stuff. I am even saying oh I missed it but hey I probably also would have round trip and or done dumb trades.
Dude I would have sold jail so bought back jail so you know what I mean. I'm here acting like I would have treated it well God knows maybe I would have gone. Fuck I lost 60K on Enron this week dude I I suck too sometimes you know. Sorry, suck again. So you know, so JLP, I'm comfortable I didn't picture this. Mando texted me that he's buying a fucked on a fart coin and then he posted by 5 minutes later and I didn't even tell him that's how much I didn't want to buy coins. You know so.
And you know, my love for far coin is deep. So it's like, I'm like. A I'm like a proper community member at this stage. Yeah. Speaking of which, let's let's go through some of your more, some more of your topics here. That far coin chart's not looking bad, man. Don't want to call bottom but hopefully we get there. I think real quick on far coin, I think every one of these news stories like the CAR, like jail stool, anyone who gets burned on it is like they're closer and
closer. Like I just want to buy far coin and zone out. Like I I'm seeing that message in chats and that makes sense. That's one thing parkour has going for it. Is parkour going to revisit the 40 cent level probably one more time or two? I don't know. I don't know how the near term is going to. Play out. Nobody wants to call bottoms here. I'm not going to try to do that. It definitely is trading like levered soul to a degree. At least that's what it seems
like. So probably they're going to be dependent on Bitcoin and Seoul breaking out of the channel at some point. But hey, hey, there's, there's some green. It's it's doing volume dude, like we said earlier, man like torrent something melon in 24 hours volume sex and decks like 120 of which on sex on decks. Sorry, it's it's looking good. You know it's looking good Anyways, what if I crashed out? Yeah, serious crazy. Anyways, I'm getting a bunch of comments sorry and deferred from
the stuff. I actually was trying to get Dave on the show today. I was like, yo, just get him, get him on the get it, get him on the show. And and you know, I'm still down on update. First I want to have this conversation. I'll ask him face to face like, yo, why are you taking us for fucking morons? You know, it's like I think it's I think it would be great. Anyways, Tyler, what else do you have for us? Because there was truly more stuff going on. Just Memco this weekend.
Yeah, there's better news like Mando kind of talked about the Japan Financial Services. Thing that's very big deal. So their financial services agencies, it's literally called that their FSA is considering new rules. It would classify crypto assets as financial products like securities. This would require businesses dealing with crypto to disclose it. So there's going to be the rules of the road, but it but it enables them to get in the door and there's a timeline.
So they're expected to announce performance by June 2025 S the end of H1 here. Potential reforms could make spot crypto ETFs more attractive. So spot crypto could come to Japan. Japan's economy, fourth biggest GDP in the world, tons of money we know Asia has. I don't want to over generalize but but has an affinity towards crypto. It's a fair thing to say. So another, another big unlock and we don't need to be deeper into this.
I wrote my newsletter about it, but 22 states, we've got universities now University of Austin wants to buy in in that quote. We don't want to be left behind. That's the capitulation. End Quote, right? Because like everyone sees the right on the wall.
All the institutions, the exact tweet that you showed from Hogan, the institutions see it. They don't be the only ones left not holding any Bitcoin if and when strategic reserve is approved and the the biggest countries in the world start buying and this thing really takes off without them. Yeah, it. Really feels like the clock ticking on when bitcoins going to explode like that. That's kind of my, my read on Bitcoin. And then just the the macro headlines just keep pouring in.
So, so that that was the the big news on the macro standpoint, I think in the trenches, the pump fund store from Wu blockchain. Yeah, so what's going on? So Alon refuted it right away, claiming. That kind of like. So let's see. Here, seeing rumors. OK, so he said that these are wrong. OK, so that's a refute. Yeah, I think he's hard refuting. He's seeing rumors about a potential pump font token. These are wrong. Would advise not to listen to anything that didn't clearly
directly come from pump. The font, well, the PUMP font team has been really been focused on improving the product in this one year history. The team has always been committed to rewarding its users properly. Good things take time. And then your favorite AI picked up on the fucking Wu blockchain stuff and started also reporting on that thing that there's a Dutch auction coming for the token. I would find it a little weird if Pump funded a Dutch auction mechanism for their token
personally, but. I think everyone, so my read on that part was everyone just misinterpreted the Wu Blockchain tweet. So Wu Blockchain said Pump Fun will release token, conduct public offerings and will adopt the Dutch auction model. I actually interpreted that as their Pump Fun platform is going to consider like a Dutch auction token launch model separate from the, they're doing their own token. So like two different parts of the two things are happening in the subject that that was how I
read this. It doesn't really matter because Alan has refuted it. But Alan in his tweet basically says, hey, he's at least streaming people along that there's going to be a token. I mean, he, he said that, right? We're still thinking about how to reward our. They're not. They're not walking it back, by the way. They're not. Yeah, we'll, we'll double down on. It we'll double that trip, double, triple like they're not, they're not, they're not backing down on this this statement, by
the way. Previously by ultimate use the Dodge auction innovate token month. So yeah, again the Dodge auction piece is separate. So like does not, they're not saying that one will launch ticker pump via Dutch auction. I think that would NASA. That would be the biggest blowback in trenches history if if that's what happened. I think these guys are smart enough of that. I think the funniest outcome would oh wait, they answered Alan.
It is almost the public fact that Pomfang plan to issue a token using the Dutch auction inside the sexes. Please. Calling him a liar. Straight up call him a liar. OK, so they're, they're they're doubling down that it is going to be a Dutch auction. Wow. Auction team obtained the detailed coins issuance preparation documents. Whoa. That Pump Fund provides the saxes. We can also publish with
permission. The listing staff of multiple exchanges also confirmed to us that Pump Fund plans to issue a token, but the time is indeed not determined. So the token part, I think there's been rumblings even from Pump Fund. The rest I personally can't even me and me personally I can't even like it's not like I got information on it so I can't even confirm. It's wild. This is. So if someone's listening doesn't isn't familiar with what the Dutch auction model. So we saw this in NFTS.
Art blocks notoriously went this route where you effectively start with a very high price and the price drops if people don't pay it to where you get to like a fair market price. But he's they're fully doubly down. They even posted this on top of that, bro, like they're not, they're not refuting at all. They're going with the story. Hey, credits to them from a journalistic standpoint for sticking to their sources and their story. Yeah. So if they got the sources then.
It probably means they have some very, very strong. This is good. I mean, I don't even care who's right, who's wrong. Give me a puff on token baby. You know what I mean? Fuck it, dude. Come on, Alan. Well, the the people if there's no AirDrop but just a Dutch auction, it would be total chaos. If there's an AirDrop, you know, also a Dutch auction component that's a little bit different for me. Like I don't have a ton of pump fun volume. It's like.
I don't have a lot of pump fun volume because a ton of volume on pump funds like. Yeah, deep. Because like far coin's a pump fun, right? So I have like deep 7 figure volume on fucking pump fun tokens. But imagine if imagine you're rewarded for how much volume you've done on ticker pumps like I. Think it would be on their platform probably. But it would be sick if there's a because even if you didn't use our platform, it's a pump funk ticker that you've bought, sold, Alan.
If you listen to this, it's actually not very selfish. It's quite selfless because I think we all relate that traded pump funk tickers on other aggregators. If you're listening to this Alan nice that'd be nice if he Dutch auctions IC OS a pump token. It will be the other deeds mint massive liquidity drain that will kill all markets.
I mean I mean the difference is that there wouldn't be any gas fees really because it's Solana. Oh, there will be network fees, but I get it. You know what I mean? I mean, it would absolutely destroy every single meme coin on Seoul. Like, you know, I mean, Tyler, like if there's a pump token even. Oh. Depends on how. If they launched it solely via Dutch auction and there's no AirDrop component then yes people would sell off memes to
to raise capital. Yeah, so Woben Bubba makes a good point if you've played around the Hyper and the Hyper Liquid. I was in the Hyper Liquid trenches for a whole weekend a few weeks ago, so I'm like an expert. It's a Dutch auction system, Tyler, and it works awesome, but obviously it's not pump fun level hype. So I don't know how it works under such hype, right. But on Hyper Liquid that was I had a lot of fun doing that for a whole weekend and then.
In other words, I've actually never done a token on via Dutch auction. So like, like the prices starts decreasing and then eventually, yeah, 100 million, then you're buying it at 80 million, then you're buying it at 60. Million, yeah. Yeah. Interesting. We'll see. I don't want to spend too much brainpower worrying about this. It's because it's still unknown. Yeah. True. True, true, true. There's no probably. We don't even know shit. So what do we know? We know nothing there.
Well, that was a move. That was a very busy weekend, Tyler. What's so? Everyone thought headed in on Friday was that if a Kanye coin comes or a Portnoy comes, it's going to nuke the entire meme market. And now it looks like Kanye's not going to do a coin and. Port He's gone. Kind of did his and the main marker is is fine. So and we lost Kanye. Does his own now? Like, I don't even think it'll be that big of a thing. Who? If so, if Portnoy launched his
own now? I think it would be a big PND. People will buy it, people will sell it because I think people are just pissed off right now. Maybe, but I don't think people would just be nuking all their bags to like. Load No, I'm not chasing shit. I'm going to Paris. I'm going to Hong Kong for consensus. I'm I'm good. I'm happy for you guys to for everybody to to have this thing. There was another news this morning. Again, some open sea chatter. Finzer refuted this one as well, so it.
Looks like it was refuted too. So we have OX quit for three minutes ago but OK, so there you go. OK, so hold on. He talks about the refuting. So let me get this straight. If none of the rumors are true, then you must believe that Open C set up Open C Foundation but doesn't own Open C Foundation. The owner of Open C dot Foundation could have fished millions of dollars but instead decided to deploy a very on brand AirDrop site with extensive turns and conditions like KYC processing.
Claim checker said owner again, certainly not Open C subsequently took the website down, probably because they realized their misinformation campaign was way too believable. I'm sure the troll that owns the domain is now in talks with the open sea Foundation to transfer to them rather, after which they'll probably bring it back up. So apparently open see the foundation was owned by troll. See. Man, people really got to be
careful. Like between this and what we just talked about for the last 30 minutes, Tyler think this is a period where people really need to be semi hands off, man. Like I say, preserve your capital. Lots on the timeline lately. And some people mistaken that for like a bearish sentiment. I could not be more bullish. I mean, my name is Perma bull on Twitter on and on here every day now, but it means like, just don't get burned. Keep your soul. And don't get don't go signing
messages. So like I I saw people reporting that website this morning. I chose not to because it wasn't confirmed and quit is probably right. Like this probably was a real site, but it's just not worth like why is it worth being the first person to to sign their wallet message on the on this open sea foundation site? I think there's no point in that. So let's wait for the official information to come out.
If it plays out like it looked this morning, which would mean no US users, I think there was a like AVPN block of some kind. KYC. There's going to be some push back, I think, but let's let's see how it plays out. OK, look, we'll see. We'll see what happens on that front and there's not much else to cover. One thing, one thing before we take off, I do have some some good news for the audience. I have some, I have some news for the audience is I am told given that I don't think I'll be
here. I I made there's like 50% chance I'm here tomorrow, but then I'm not going to be here the rest of the week. We're not hosting the show on the 13th, I think because none of us are here. Mando and I are in France and I think you've got some family stuff to attend. And then next week I'm you guys are going to host, but I'm out because I'm in Hong Kong for consensus. So if you're at NFT Paris Ledger events on the 12th, go sign up on Ledger's website.
I'll be there all day long. I'll be running podcasts. I'll be vibing Decrypt, Ragrido and Myriad are partnering with Ledger for that event to be super cool. 13th and 14th for the awesome booth at NFT Paris. Come say hi. Free coffee shot the ponds and the and the and the frogs there for for hooking us up as usual. So some free coffee at the booth by everybody else to come by 13th, 14th. I'm doing a panel with looking ATS on the 14th, a panel with OV
OSF on the 13th or vice versa. I wanted the two. And I'm doing a panel on Myriad with locks and Elance or Keynote. So definitely come check us out.