Yo-yo yo what up? What up? Good morning. Good morning GMG Tuesday March 4th, 2025. Look at that another beautiful day to have a beautiful day. I got my Co host in the house. Hi there, Mando, good morning. How you doing today? GM Well M today. I like that. MMM. Everyone. What up guys? Tyler, how are you doing today? Are you going in there? As good as possible, Yeah. I mean, last night on crypto Twitter, I mean it was like full on depression since it was. Great this morning.
It's all turned around this morning. And we're depressed again. We're going to fix the vibes. The Canary Labs chat is is has been judging whether we would be conscripted to fight in the European war this morning. Yeah, oh, that's why you're all like, Doom, tweeted Doom texting I. Mean it's real in Europe. It's real, dude. You know 5,000,000 bucks you can get a you can. That's why you're passport.
Luckily passport luckily Portugal hasn't been in a war for oh wait, sat out both world wars actually. Wait, if I have a French passport and a Canadian passport I'm fucked? That means the French can use me as a. Yeah, I don't know how it worked if we if they got conscripted, I might have to go back, but I don't even know. I'm not even a citizen there anymore so. Don't worry dude, the Portuguese have stayed out of all that stuff for a long time. I'm glad the edge, the edge of the world.
No one cares. This is my Portugal. No, not worth it. It's the. Island all the way. I thought people are moving to Portugal. They're like, why? I'm like, that's exactly why. Exact reason why she's. Like wait, do they speak Spanish there? Yes they do. That's exactly why I'm moving there. Yeah, don't come. That's really the, the, the, the, the that's I I was talking to someone, I forgot who and I was like, yeah, I'm over to Portugal. And that person was like, damn,
you speak Spanish? I'm like, yeah, yeah, yeah, totally. We speak Spanish there. Yeah, yeah, yeah, it's totally Spanish. It's like more people speaking French than Spanish and Portugal. But anyways, the other show today, today, All right, we got a lot. We're going to talk about market, but we got to talk about we got to talk about a lot. We got to talk about macros. We got to talk about Trumponomics. We got to talk about trade war. We got to talk about war.
We're going to talk about a lot of stuff and we're going to get real here. We got to talk about why Mandel feels like he's about to go. I mean, at least OV is going to get back in shape. You know, maybe that'll that'll push him to get back in shape. You know, we're going to talk about that. Why Mandel thinks to going to war. Lily Mandel woke up and was like I have to good. What's so funny? Then we got Tyler who Tylers top 1000. There is still a lot of news coming in like really a lot a
lot and then no one today. But we do have a robot spin. So I want to see some retweets. I want to see I want to see some
retweets on the show. We're going to robot Luke boxing, then last, but now these this show is powered by galaxies, galaxies of Web 3 platform empowering creators and brands to build unstoppable communities with full ownership and independence trusted by icons like Donald Trump, Steve Okie, Mike Tyson and the NBA, shaping together the future of engagement, but also wallet connect.
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GM So yeah, it's a complete reversal of of what we saw the day before. Second worst day ever for crypto yesterday. And to be honest, it's kind of just continued as the day's gone on. We hit kind of a low. We're hitting kind of the lows right now of where things were, if I'm honest, like Bitcoin sank to around this level around 82 K and it's 82.8. I think the main change here is that all of the oversold indicators we had a few days ago are not there anymore.
So like sold for because they all had that big Wick up. Like the RSI is actually like in the in like 35 area. So and whereas what was it like 10 or whatever? Bitcoin's a little bit lower because I don't think it pumped as much, but I see now Bitcoin's even higher. It's yeah, it's just basically like we don't look oversold here on those oversold indicators, which is kind of a little bit more worrying. Why are we selling off tariffs? Tariffs mainly. I felt like that was the the
thing. But also, I don't know, a lot of accusations of like insiders on those coins. It is kind of crazy that all of those coins are down like lower essentially than where they were before the announcements were made. But the tariffs thing is probably the main 1. He had some not great economic data yesterday. And then it feels as though tariffs are going to be met with retaliation from, from allies really from Mexico, Canada, EU particularly it'll do the same.
China, it'll do the same. And this could push like a global, a global slow down. The, the Canada central bank came out today and said if we, if we go through tariffs, we
could head towards a recession. Interestingly, the Atlanta Fed came out yesterday and said they think Q1 GDP could contract over 2%. So it is quickly descended into which I think people thought that like the Canada, Mexico thing had maybe been resolved to a certain extent or like wasn't going to flare up. Well, like pause until April 2nd. That was what was said and then it was brought forward to today, actually. Right, exactly. And it felt as though.
You know a. Month ago we had we were on the show basically saying, look, yeah, they're going to track some sort of deal. It doesn't make sense to and there was the deal about the border security and all this sort of stuff and then flared up again. This is on the back of obviously Trump. Yeah. In Europe, the situation in Europe is, is is slightly be stable. That's what I would say. It was getting more instable.
If you don't know, you might have quite a lot about Europe, but like there's a lot of like regional conflicts which are kind of unresolved and like we've had 80 years of peace. And if Trump leaves NATO, I do think there's a chance that like some of this stuff could flare up. And that's even today there was stuff in like the Serbian parliament. So it would be like rain areas that like the Balkans area. There's obviously this, some of those are aligned with Russia actually.
But there's been a lot of tension for unresolved tension for a long, long time, ever since the the war's there. You have the Baltic area, you know, part of the Baltic, Latvia and Latvia and Estonia both have around 25% of their population speak Russian, right? Similarly, Moldova has, has, has Russian speakers just like with Ukraine. And there's like smaller random ones like Poland and Belarus, for example, are like completely at odds and that could flare.
So like if somehow, and and this is after decades of Europe not spending on on defence, like yes, it's all 100% true that the US has basically been the the the defender of Europe and and kind of kept stuff in check. But if that is gone, I do think that like there's a chance stuff could flare up. I think in general, people are saying that all over the world, Like if the I'm just saying, sorry, some theoretic was in
here for like AUS audience. But if, like if Venezuela invaded Surinam or if, if Kosovo fled up again, or if the Russia decided they wanted to take parts of Estonia or if talking Greece fled up. You know, they they've had historic tensions before Azerbaijan and and Armenia, like these are all like regional small tensions, which like aren't, really aren't on the radar for a lot of the US, but
but they are in those regions. And I think people have suddenly just been like, Oh my God. Like the US doesn't care after what happened with Russia with Ukraine last week, which is, you know, that's the kind of prerogative there's like we don't want to get involved in foreign wars. But that what that does mean is a lot of the world is just suddenly freaking out and going like, wow, some of this stuff
could. Sorry, it was Venezuela and Guiana. Yeah, I said it wrong, like, and I don't think the EU really wants to or feels like it should get involved anymore. And at the same time, it's kind of courting bigger powers, you know, bigger powers which traditionally have been slightly, slightly more adversarial. So that's that's the general sense. I'm just, I'm just getting like it. It's just that people, there's just a lot more uncertainty, a lot, lot more uncertainty.
I think globally, both in terms of economics but also politics, Europe is rearming. They said they would spend 800 billion on on arms. Wow. Right, we should be longing fucking these like companies. What is it? The arms dealers? Yeah, so the UK and European defence companies all all rallied massively yesterday after that sort of stuff. But I'm, I guess I'm looking for the trade.
I'm just saying that suddenly everyone's just like, oh God, like stuff could happen now with like, again, it points to bigger ones, which may have an economic impact on the on the US would be like Taiwan, where a lot of the chips are made that sort of stuff like if the US doesn't care about regional or is is is basically saying that it's it's not going to care. And this may culminate in leaving NATO.
It seems definitely on the cards, definitely on the cards, but it's also with tariffs in general, like it's it's fighting with its allies. I think the world suddenly the world just got more uncertain. And this is also a time where, well, like you are having some weakness in in the general economy, not like terrible, but enough that it would be that it could wobble. Now, I don't know, like to me, this kind of feels like a multi year potential pump and dump.
Like, sorry, dump then pump. Like, is Trump going to do this and then force QE in a year and have all these massive tax breaks? And like, maybe the first year of the Trump the Trump presidency is like, yeah, we're going to fuck shit up. We're going to fuck up the world order here and see what happens. And the second-half is like, you know, we're going to push through a lot of positive stuff. But like, it kind of feels a little bit like that to me.
And for crypto in particular, I don't think, I think the crypto community is actually turned a little bit on or maybe not on Trump, on the Trump's. I think there's a lot of positive stuff that's been done for, for crypto by this administration, but like some of the some of the ways it's been done and like see thrifts that have kind of rubbed people up the wrong way. So I think and people just don't
don't trust the announcement. You know, like when you see an announcement like that yesterday where it's like, Oh my God, like Crypto Reserve and then everything just gets dumped and like there's just like weird stuff going on. It just, it just suddenly feels like, oh, we're just like a play thing almost here. And I don't think people like that. Yeah, 100%. It's definitely not great. Like obviously like the markets
are, are very secondary here. It seems like Trump wants to, I mean, we talked about it this morning, but on the show we didn't. It's just like it feels like it's he wants to come and like break everything that has been and, and obviously breaking everything comes with its cost and the cost of the market. And sadly, we all are operating in a high risk, high, high, high high risk asset market. So usually these are the ones that get slapped the hardest and
where the volatility is insane. I mean, my bags are down and so and so definitely hurts market. So for people who are running like, yo, where are our bags down? Or oh, like we're only down because I don't know, like, oh, Donald Trump, like don't say something March 7. They'll bring it up maybe, but it may be the daily candle like that. And you're wondering why we had the best day in the history of crypto, followed by the second worst day in the history of crypto.
It's because there are bigger things at play here that are very that are political. There's a trade war going on. There is obviously all these like scares of like, you know, Russia, Ukraine, you know, USA, Ukraine, USA backing off, bucking out of the, you know, the, the, the, the world pretty much what we were talking about this morning. But like since World War 2, I don't think we've seen a
president like that, right? Because I think since World War 2, like USA got very involved with the world politics, you know, after obviously, like, you know, saving Europe essentially. And then they've kind of been on top of that forever. Ironically, I feel like in the last 10 years, I've only remembered people saying that they want the USA to stop having such a, such a hold on the world and stop being the leader of the free world or acting like it and want to back away.
And now they are actually saying like, yo, we're, we're out. And so naturally that'll break a lot of things. And I actually understand the the skepticism and the and the stress that this this, this off flows. This is like, it's like saying it's like the police backing away and saying like, yo, y'all figure it out, right Tyler? Like what's your thoughts on on on what's happening at the? Moment, Yeah, it's happening very quickly. I think there's a lot of destabilizing happening.
There's a lot of uncertainty. I think that's certainly a big part of why markets are down. Markets hate uncertainty. I've been just trying to figure out like, so like, what is what is Trump's plan? Like, why is he doing this? Because like, I think it's, it's pretty clear that he, he cares about his net worth specifically. I think even Trump fans would say like this man cares about his wealth. And I mean, he's going to be
impacted by this. And a a month or year long recession is, is not going to paying a good legacy for him in any, any kind of way. I do think he also cares about his approval rating. And the longer it goes, the more it impacts Republican chances in the, in the midterm cycle, which which is not that far away. It's like we're talking like a
year and a half, right? So I've been, I've been trying to, to understand because these tariff games, I mean, I, I don't think we're games and, and there are things that can have very, very long impacts and it doesn't even feel like we've started to really feel the impacts. I mean, look at the latest news, right? This is just in 7 minutes ago. Trump says if companies move to the United States, there are no
tariffs. So I feel like when you ask what the plan is, it's a very US centric plan, obviously. But you know, I don't know. I, I, I can't tell. Like what the end. Approval rates are going down. Sorry, like does it feel like it's turning in the USI feel like a lot of this stuff is pro US. So like it's it's not that that is.
So actually Tremont wrote something pretty good about it yesterday, saying that Trump is actually really popular amongst like the younger crowd and unpopular amongst the older institutional crowd. And and he was kind of like trying to explain here. Let me bring it up. That was that was a good take. I don't I agree disagree with it, just I think it's fair take. He says Trump is more popular with young people than old people. Most young people don't own stocks or homes AKA they are
asset light. Trump is also more popular amongst working and middle class folks. Most of these folks are also asset light. It stands to reason that a fall in asset prices, stocks down at home prices down, have very little impact on his core constituents. To that end, I won't be surprised if Trump has little reaction then to an equity or
home price market correction. Separately, the upside of shrinking these assets prices is that it gives the folks mentioned above a legitimate chance to buy in those markets at lower levels, making equity ownership and oral home ownership more possible. Essentially, if Trump figures out how to get rents lower, he will unite young people, and that's at light working people into a reliable voting bloc. For those foreseeable future, he will have given them the
trifecta. Cheaper stocks, cheaper homes, lower rents. Said differently, don't presume that the stock market going up is a useful barometer barometer anymore. In fact, it's going down. Maybe a better signal for his popularity. Tam will tell. So he's actually making the case that. Very good point. It's. Actually a good point because you, you went there right Mando and I thought that was the best answer to your question. So what do you think?
I think. It's sorry, proveration isn't going right like, and I do think there's a chance that sorry, there is a chance that this does lead to a, to a like the housing, housing market could could reprice here, which I think actually is pretty popular definitely among certain demographics. So yeah, it's I think he like this, this play by Trump. I don't know if he'll lose that many voters, at least in the US, But what I do think it does lead to more turmoil throughout the world.
That's just what I. Think it's a tough one. I, I saw that take initially. I thought it made sense. But again, like, I, I don't know that crashing markets and housing so that younger people get a better entry is, is going to bode well. Like sure, maybe it bodes well for, for zoomers for a very specific niche, but like there's going to be pretty massive fallout from that. So I, I don't really, I can't imagine that's his actual
strategy. It's like, Oh yeah, I'm just going to lean into the Zoomer base and. No, it's not just zoomers, right? It's also middle working class, which is a large part of America, right? That's what he's saying. But yes, you're right. It's. Maybe. I mean, I, I will say on the opposite side of this. So I graduated College in 2007 and I entered the fortune in 2008, which is when the last recession hit and it didn't impact me personally.
It's like I was able to keep my job and so I didn't. I was actually at that point in time I was happy that assets were going down because I was just starting to invest for the first time. So I do, I do see that perspective as I have lived through it to a degree. And certainly I would feel as most 22 year olds probably don't care that that markets are crashing. Yeah, Logan makes the point. He says he's expected that a drop in price is going to prompt people who don't invest in
assets to now invest in assets. I, I don't know, I, I, I'm not professional. I, I don't think I have an answer to that. Maybe I don't know. I mean, maybe actually, you know what, like if prices drop far enough, I have been thinking personally, I guess I'll speak for myself. The more real estate crashes, the more I'm like, hey, maybe one day, maybe I'm finally just going to put money into some hard asset. So me personally, yeah, maybe a little bit, but I don't know for
you guys. But for the first time ever, I'm like, wow, I'm maybe going to be able to like just buy a cheap home because it's got crazy in Canada. I'm not going to lie. Yeah, I guess I I closed on the House yesterday so I don't I'm not working for to to to well. Congratulations. Yeah. Thank you. I saw the boxes when you changed your camera angle behind the on the other side of you on your right, right. It's you guys got a house full of boxes. That's going to be me soon
anyway. So look, I don't know if we have anything else to touch on that. I mean, when I think around the horn, I think there's a lot of uncertainty. And I think by even the, if you listen to the show a lot, if you listen to this conversation, you can understand why the markets are shaky, right? Like nobody knows what the future holds from a macro and trade war perspective. My ability to predict crypto is almost at 0 at the moment. Feels very. Hard bam bam bam bam hey.
Don't you dare. Don't you dare dump your Sonic bags on me, OK? No, no, no, no. So let's talk about that for a minute. I do think yesterday's dump was a big. Shouldn't talk about it. Intimate because I I think that there was some hope that perhaps that was like the 30% correction in Bitcoin and and 78 K was the low and now we're going to rally back and seeing the entire the best day ever get wiped out in the second worst day ever. And now many of the tokens are
lower. Than they went, but I mean Bitcoin went even lower than that. Best day ever. Yeah, I think that hurt since then, but I think that the bigger factor was is people still digesting the XRP data strategic reserve announcement and just like pure on crony capitalism and a crime effectively at the at the highest level and and those assets not having the merit to be in a strategic reserve.
They shouldn't. That's what's really sent shock waves for from the people who don't necessarily sweat near term price action as much. They are more upset about that and I get it. So I feel like that's where we really need clarity, ideally this Friday. I think that'll come Friday as well. It's it's true. I mean, you had Brian Arnstrom yesterday, we quoted him. You also have Cameron Winklevoss that came out about this and a lot of the bigger founders and
leaders of the space. And I think they're right. Like the strategic reserve effectively should honestly just be Bitcoin. And I think it's hard to disagree with that, right? Like I think I think that's like consensus here. It's not even the hard take anymore to say this reserve thing with all the basket of corns is a bad idea on the timeline. So it's. Yeah, it's tough. I mean, it's tough to, I mean, there's strong cases against not holding any assets in the strategic reserve.
So, yeah, I'll be very curious how they, how they mention how like the sovereign wealth fund ties into this because I think it, it's a little bit, it lightens the the news a little bit if a sovereign wealth fund is going to invest in these assets and then we see how that's funded. Yeah, another factor in all this. Yeah, look at these arbitrates. You know what's crazy though? Yesterday I was like just late night. That's going through every chart a little bit.
You know, we always say like in case of the like the market zones zoom out. So I zoomed out and I'm not going to lie, a lot of these zoomed out charts looks like fucking trash. And that's not even like let's just be objective here. If you zoom out on the theorem on a weekly basis, this is 1 mega lower high. And if it goes sub 15 hundreds, which I pray to God this doesn't happen, it's going to put a lower low on the zoom. Like you know, you said like hey, zoom out.
Like on this dip, it was zoom out. I zoomed out. Did you buy this? Like if this was a meme coin to buy this Mendo, like what if this I was playing for fun yesterday. I was just like drawing lines like just to myself, just doom and glooming on my own right. And I'm looking at this and like what if this just chops to 2027? Have you zoomed out on most of these charts? The only charts zoomed out on the weekly that looks good is Bitcoin. Look at this, have you seen this?
That's zoomed out Bitcoin, this is zoomed out Ethereum and even Solana is like, oh, he thanks to Trump, actually he managed to put a a higher high. Whether you muted by that, I don't know if you said something you are saying. I mean I figured you're trying to say something. Yeah, I just said USDT looks good bring up, bring up the stock market though, that's the other thing like this is the we've already sold off. I think people probably don't
quite understand. You want me to bring in the SNP or NASDAQ? Yeah, SNP is probably fine. What? One day, One week, One month. One day is fine, but they probably just don't understand like in the context like. Goodness gracious. There's quite a lot to go if that goes. And I would say this is more, yeah, this has like some impact on crypto, right? But this feels more like a potential breakdown in multi national corporations that I would be more worried about, right?
Like so like, yeah, like I would be more focused on the S&P 500 and where that is going. Yeah, than. Than a lot of other things, right? Now I saw sink pump or something about the S&P Cup getting it. That's your homie right? SPX just took out his low opening the way for more sustained down. That's what I mean, stocks have just broken. I mean, they broke that, remember, they broke that support level. What was it about a few weeks ago? And that was around the time of
the tariffs. And then it felt like they were going to be reversed and everything was going to be OK. This this does really affect them. So there's a question here in the chat man. Though isn't crypto the first to sell off though? Or do you expect even bigger pull backs even if we sold off earlier? Yeah. So I, I don't know, because I don't think that the set the real sell offs that you've had in crypto, you know, crypto wasn't, wasn't around in 2008. So like the, the actual like
recession sell off. I don't even know when the US has had a recession, right? We didn't really have one in 2022, although we came close, although it was like a technical recession, but like nothing compares to like a recession recession. And then you had COVID, right? And when COVID got going, it was very violent and then it rebounded. I don't know how the how crypto reacts in the case of like a, of like a period where stocks sell
off for, you know, a few months. COVID was an like, was like the perfect crash. In some ways. It's like, it's just like AV shaped like, Oh my God, did you buy the dip? That's the thing. I actually just there's there'd be no evidence. So I don't know, crypto did sell off first, but then if the S&P goes down another 10%, it's very difficult to, you know, I would bet that Bitcoin does better, but then altcoins are already down like 80%. But like, it's so difficult to
know like. And we even still get good headlines. I mean literally like 10 minutes ago, again, like Bright House announced its support for the CRA to rescind the so-called broker D5 rule, an 11th hour attack on the crypto community by the Biden administration per David Sacks. Like it's just like. That's great. That was the thing that happened on Christmas. Remember they.
Yeah. Yeah, yeah, I remember the last D5 rule, but the point being is I think I mean, I am a permable, but by the way, why did my name reset? I used to say peroque permable. I want to I'm going to put it back. What the fuck? That's insane. But point being like, you know, when the coast will be clear, it'll be really good.
But for now, everybody, you're going to have to hold on to your undies and you have to focus and preserve as much money as you can and just keep at it. Like there's no, I know this is really like bear market talk, whatever, but this is just the truth. Like you have to prepare for everything. We, we spent 30 minutes on the show right now just talking about this. There's a reason for that, right? We didn't get the topics yet because people have to prepare
for times like this. And I feel like you come to the show to not just hear, Hey, we're going to keep going up. You got you got to hear the truth. Like the market is in shambles because there's bigger powers of play and crypto is just we tend to make crypto such an important role in the planet in this industry because we're in a bubble. But crypto is just literally like a little fart, little fart box next to next to the SNP and
all these things, right? So I mean, NVIDIA is like the market cap of the entirety of crypto in this one company, you know, so just, you know, just going to believe and play. For it right it makes sense. I mean, the S and PS down 5% from all time high. Like like the I'm, I'm a probable with you frog. I think most of my bullish crypto takes and like, oh, we're top of the first is more just on a longer term. Like now we have a crypto from
the administration. But like if, if the S&P corrects 25% in the next three months, like there's it's going to everything's going to go lower. Like let's just be honest about it, right? Like that has to be how this would play out if we see that that type of correction and stocks have been priced at perfection to to steal like Peter Jennings terms basically priced at perfection all time
highs every week. And now Europe is destabilizing and like there's entire world orders, feels unstable. You want another sign of bear market? OK, I'm not a bear market. I don't think we're in a bear market. Do you guys think we're in a bear market? I did a poll yesterday. I asked people I think, but I I did like bear market, bull market or I'm tired boss. And obviously 50% say I'm tired, boss. We're probably at that cusp, which is like we need more data to see where we're going, I
think. Maybe it's muted again, maybe, but I feel like I, I thought you were you were chain Mendo. We were just talking about are we in a bear market or not? I just feel like everyone has this crypto bear market mindset where it's 2 1/2 years and Bitcoin drops 80% and like, I think like it could be a a bear market without that, right? Could be a smaller correction. I think it's tough to argue that we're not hitting their market for all coins, right?
Like it's pretty horrific. I don't know if that's for the broader crypto market, but what's crypto down now like 25% Bitcoin? It doesn't, this is tough because like I think a lot of people would still class this as like a feeling like a bear market just kind of like this. This to me feels like what it felt around FTX and around some of these other really, really bad sell off. So sentiments definitely there at that level. I'm looking at December 15th, crypto was 3.7 trillion.
It's 2.7 trillion today. So that's a proper 30% pull back from high like it's like what are what are even like the objective definitions? I think it would have to be, I don't know what correction is normally 10% in most markets, like we've obviously smashed through a correction. Definitely. I I don't know what a bear market like it's classified as, like maybe maybe it's around 30% that we start. To what is that big? There's this big, big corner that road.
I'm trying to find this. You're the guy that moved all this Bitcoin like he's a Bitcoin maxi big trader that moves all his Bitcoin CTS and made a lot of noise. I can't find it, but he made a pretty good thesis on that. Like his indicators are all bull market for now and he's waiting on some data on Bitcoin to like be able to see where he flips. So anyways. 20 percent, 20% for bear market. You know, that feels a little low. I'm already down more than that, right? 30 OH. Shit, fuck.
Anyways, hang on to your undies lads. With that, I think when let's go to the topics, there's a lot of stuff, there's a lot of great stuff, including Kanye West asking to meet onsen. So I you know, it's don't worry about the trade war. Kanye West asked to meet Onsen guys. Tyler T on FOMO our calls the kids. Can, yeah, we've been talking about the more tariff news. Broad weakness in the stock markets have pulled down crypto majors another 10% or so, alts
down even more. We got news out of Buybit. The Buybit hackers have now successfully laundered over a billion dollars of ETH via Thor chain with 83% of that converted into Bitcoin. Though one perhaps positive here 77% of the funds are still traceable so so that piece is good. The SEC they closed investigations into Yuga labs and Kraken yesterday their two latest high profile case drops so that was positive.
A new crypto caucus is being spun up to help support crypto innovation in the US NASDAQ filed with the SEC to list and trade Grayscale Hadera ETF. The UFC signed the sponsorship deal with B chain. B chain still around and I think. They've had that for a while, right? I just saw the news break yesterday. Or maybe it's new. But yeah, Vici has been everywhere in sports. Yeah, makes sense. And then Snoop Dogg. I have a fun headline here. Snoop Dogg is partnered with a
Web 3 music platform. He's not FM after a dispute with Spotify. He said that he said he doesn't fuck with Spotify anymore. He's rolling with Toon dot FM and token AirDrop and protocol news. Zora revealed token AirDrop plans with that Zora token coming on base this spring. Henlow did its AirDrop on Bear Chain for eligible users and briefly reached 100 million, Fell to 25,000,000 fairly quickly. Mega 8 announces public test net will be deployed March 6th for
builders, March 10th for users. Hyper Liquid announced that mainnet validators will become fully permissionless after the next upgrade. Few other headlines here. AI it was down quite a bit. Most leaders down 20 to 30% or more. Virtuals is powering robots dot fun, a new launchpad for robotics AI and that could be a perhaps a new sub sector of this broader AI market is the robotics piece. And then in NFTS, the the big piece of news was out super rare huge announcement.
They announced a new focus on curation, streamlined rare token staking, including a partnership with transient Labs and then a launch of a private sales team to go find more real world collectors for digital digital artists. So I think if you are an artist, you got to be pretty happy about that. Yeah, this is great. You know what's funny about the Thor chain set stuff with the launderers? I can't find the tweet anymore. I'm pretty sure I'm like scrolling.
I'm pretty sure that one of the founders of Thor chain was like, so the day after the hack, like this guy was like boasting like volumes like rising on Thor chain. And I remember someone like quote tweeting it like yeah, that's North Korea. And like 2 weeks later it turns out it's like, it's so funny this Thor chain guys like they're always. Like it wasn't the founder, I think it was just a community. Member Yeah, you. You know what I mean, Mando, right?
Yeah, so maybe it wasn't the founder. The founder. Shared it or some shit. Well, I think somebody quote retweeted them and said this is just crime. Yeah. OK. OK. So it wasn't founders, so I retract. I retract in cases like a 10 second clip that comes out on the chip. Because. You know, it's a clip just retracting, but I thought it was hilarious. Like someone was like, yeah, Thorn Train is seeing all time high volumes. It was like literally like the day after the hack.
So I think this has been going on for ages though, right? It's all changed. Oh, we got some news from Zelensky here. Yeah, I've seen it, Yeah. Zolensky says he's ready to work on the Trump strong leadership to bring peace. Sorry, go ahead. But since we're talking about all this war shit 2 seconds ago, I think it's important. It's important. It is important, yeah. 3 minutes ago. So we'll see. Have you thanked your president today? That is the best meme.
I have to say the JD Vance meme is really funny. I'm not buggy at. This it's so. Good say it's really funny, man like oh man, have you Thanks you did you Who's is there president in president? I never checked. Is there president in Portugal, Prime Minister? How the king like, How does it work there? Yeah, there's a president and a Prime Minister. So is the president in Portland? OK, so you guys because us is prime here because we have the Queen, the King, sorry, King Charles.
Yeah, it's got 2. Two, have you thanked your King today? OK, anyways not to cite too. Too close to reality there. Too close to reality. We've seen some relief from the order books here. So that went from 1:35 to 1:36. Yeah, sure. It's getting wrecked live on air on on this bibiness. Is there? Is there a silver lining in this Bibet news? Maybe it's just me. Hopium. I want to try to flip positive. Gives us the hopium. Come on.
So ETH has been underperforming, yes, the coin and soul in this downturn. I mean, is it just literally because the North Korean hackers just converted $1 billion of ETH into Bitcoin? Is that what that look on thin
wallet was or not? Because it was also wallet that moved like an absurd amount of Ethereum yesterday to sell I. Mean that's a lot of bonus cell pressure right like and now and we didn't know like how quickly they were going to be doing it and now the reports are that 83% of $1.4 billion has already been converted from. ET no no, but there's also this. Check this out A whale wallet with over 110,000 ETH $235,000,000 appears to be selling ETH.
In the past 14 hours, this wallet has transferred 30,000 ETH to Falcon X and Galaxy Digital and received 7.76 million USDC from Falcon X. The wallet may be related to Genesis trading, so there's also this. Yeah, which is, I mean, and that's 60 million. I'm I'm talking about a billion. No, it's 200 million that they have to sell. They they have, yeah. So. You also are talking about a billion, so yeah. Yeah. And this is a lot, but you know, I'm still relying with with the
the was with the buy business. Maybe they're. Are you logging ETH Tyler? We're done selling I I'm just looking for any reasons that our assets are going to stop going to 0 actively. I mean, ETH does affect a lot of our assets because NFTS are all like mostly on ETH. I don't know, Amanda, what do you think? Do you think ETH is oversold? Just stop answering that question. Ever. I know, we thought. I saw where I was going.
I was just going like, is that perhaps one of the reasons why we're performing and now that reason is is gone doesn't mean it's kind of bounce back? We've got a good bounce right now happening. Hopefully it sustains. I obviously I just considered buying Solana last night when it was in 131. I didn't because I was scared. That's how it the state of the market. I was scared to buy spot, not even leverage.
Yeah. But the more this Zelensky shit gets figured out, the whole Ukraine, Russia's thing, the more we're going towards relief, hopefully, because that removes the whole war terror. But. But, but he's being kind of nondescript. He was saying this from the start, right? He would only sign it if you get security guarantees. Yeah, he wants security guarantees, money and a bunch of stuff. That's what Lutnick was. And he's not saying he's not saying it.
He said he'll sign it. But like he wants security guarantees. That's what Lutnick was talking about on TV, right this morning. Was it Lutnick or? Yeah, it was Lutnick saying that there was some stuff that they wanted. I forgot who was talking about it. Anyways, Tyler, what else you got for us? Yeah, I mean the Zora news was
pretty big. I think a decent amount of folks, probably more so on the arts side of the house have have used Zora. It's a popular platform for additions, specifically low cost. So we got some more details around the token, 10 billion tokens coming on base spring 2025. Interesting tokenomics here, 10% for the AirDrop, 20% for ongoing community incentives. It seemed like that 30% was is pretty much the core community part, around 65% for the team
treasury and contributors. So a bit heavier on that side. And then sometimes we'll see. Looks like the first snapshot is already in there is another snapshot coming soon. And I'd say if someone is interested in perhaps becoming eligible, that the actions are to go sign up at zora.co if you haven't already and then. A lot of you have interacted with Zora, so just check. Yeah, a lot of you have interacted with Zora, my stuff included.
So if you've minted probably Jack Butcher's work, you've interacted with Zora as well. Some of all his editions lately were Zora on. Base. Oh yeah. Oh, I have used Zora. You have used Zora bro. All of Jack Butcher's stuff, all of these massive editions on base are Zora. All of them. I'm pretty sure there's the the X copy one was as well that insect one. I mean Zora has been powering NFTS on base like they are the provider of it. I mean, they're, I like that
team. They always like pivot, right? It seems like they they've been trying to make like a lot of exchange and exchanges. Sorry, what's the term for exchanges? Marketplaces for NFTS have only shut down even maker's place most recently. You saw that and etcetera, etcetera, etcetera or pivoted foundation became Rodeo, which is social app. It's actually doing pretty well. I actually like what Kayvon's doing. But point being like Zora has also always found a way to pivot.
Probably it seems like they have Jesse's full support in base team. So they have like hardcore support. Zora's probably going to get Coinbase. They won, by the way, Tyler, so there's something there. Hopefully it's PV season and he pulls a Kaido, so we'll see. Where's Kaido at? Actually, yeah, in this downtrend, I'm curious how Qaeda's holding up. It's been falling. I mean, obviously, but like I'm wondering like is it falling like more than the rest or is it like at 1:55?
I mean, that's bound to happen, but it's the 155, like it's the 1 1/2 billion dollar coin. So shout out to them anyways. All right, Tyler, what else do we have? One lighter story, but I think it's it's fun and and it could matter was this Snoop Dogg story. So I I wrote about it for the newsletter this morning. He announced a partnership with Tune dot FM, which is blockchain based music streaming service. This is him stepping away from Spotify to a degree. He hasn't fully cut ties.
He still has a lot of music on Spotify. It's on Hedera. It is on Hedera, so on H Bar. Their differentiator here is they offer real time payments. Wow. Platform using their native tokens jam token. Look at that, it's the Montreal Canadiens jersey. You seen this? Ontario News Ontario is implementing a 25% export tax on electricity to the US, impacting 1.5 million homes in Minnesota, Michigan and New York. Yeah, I know, I know. One of our home is fucked. That's wild.
Yeah, I mean, Ontario and Quebec. So Quebec also was said like, yo, I'll go to war against Trump like the Prime Minister yesterday. And Quebec also provides a fuck ton of electricity because we have the biggest water resources in the world, right? Clearwater that is freshwater clear, whatever it is. Anyways. Anyways, let's get back to we're talking about something lighter, Mando, OK? We're talking about music NFTS on Hadera, OK?
Sorry, let's get back to that. For for one second, let's not talk for God's sake, man. OK, for God's sakes, indeed. All right, Tyler, back to you, Tyler. Well, interestingly enough, Snoop's Tune dot FM partnership will include NFT backed music ownership. So music NFTS on the table folks. Exclusive fan experiences, giveaways and collectibles. Their CEO went on the record, said Snoop is the OG pioneer, always on the cutting edge. He is.
Technology so like this is not his his snoop's first venture into web three. I think folks certainly remember like the his metaverse plans back from 21/20/20. Two, I mean he was active as fuck. I've interviewed him like 3 times. He was a red guy. He was a red guy. He bought. A red guy, he. Minted a red guy no. He didn't. He bought it. Oh, he bought it. So he bought a red guy back then he had his whole Cazamo Snoop
Dogg joke that was running. Like he's been actually actually went to his studio once, smoked a blunt there that was nice. That's 20/21 was fun for me because like I got to do some cool shit. It was wider. Yeah, it was nice. I got to hang out with Champ a lot. His son. They they're tapped in. They were they for what's worth, out of all the celebrities that bought board apes, he still has it. He still rocks the the whole
board ape pendant. Like they still fuck with like rock with the apes big time, like big, big time on like a lot of celebrities that came in and left right. So Snoop is the GOAT man. He's done he's done a lot of music NFTS before. He sold a lot of songs, NFTS as well, Death Row Records when he bought it back. I'm pretty sure there's a whole Web 3 component to that, by the way. There's a whole thing to that. So he's they actually do like him and his entourage.
Actually they're they're tapped into the whole industry. I just haven't spoken to him since 2020. Two or three, but I have tapped. Of course, disrupting Spotify and other streaming services is is a mammoth task, right? And I don't know if tune is going to be the the company that that figures it out, but there is something here, right, like real time micro payments enabled by the blockchain, all verifiable, all transparent like thing.
We we've seen artists upset with how they're compensated streaming services like Spotify. So oh, shout out to them for for at least attempting it. Yeah, yeah, 100%. I'll never forget stupid coming on a show and being like, what the fuck is rock radio? And I was like, oh shit, that was funny. All right, well, there's that.
Speaking of apes, yesterday cracking news came in during the show that the SEC is dismissing their case and then followed by the dismissal of a three-year investigation on Yuga Labs as well. So I think this is because all the previous precedent were for exchanges or crypto companies. This is the first precedent that we have for an NFT company. So I think it's worth noting for us here in our audience.
After three plus years, yes, he has officially closed its investigation to Yuga Labs. This is a huge win for NF TS and all creators pushing our equal system forward. NF TS are not securities. I, for one, celebrated that. I think that's very fucking good for our industry. Yeah, big news. I mean, I don't know, there's a whole lot more to unpack than what they announced right here, but I think everyone, we can breathe a little bit more. Cyber Leaf sucks. Yoga had to to be the one
fighting the fight, right? I'm sure it was very expensive. Yeah. Hopefully we can all move on. Hopefully he dropped cyber congs next, which is probably going to happen. No, that was a that was a last, last last one to get attacked by the Biden administration. That was like very last, like last inning. They had like most ponziest stuff of anyone, right? Like with bananas. Yeah, but you know, when you
think about it like I think. I'm not, I'm not saying they were security, I'm just saying that like that. One, yeah, because they were, yeah, yielding tokens, right? So technically speaking, you could think about it that way, folks. Ivor comes with like 100 eats. Remember 2. 100 eats. That was the before. What do you remember? Proof. Collective pass. Yes. But like point being like, I think like so when you think about it from the board where I'm happy you got labs on.
So Yuga labs sold, issued NFTS, collectibles, made money with it, but that was kind of like a raise to build the company. So they, they, they, they bought the company off that. Then they, you know, the foundation, a coin launch a token, right? Whatever they adopted it. We know how that works. There's only one reason we have to, we have to do this in this industry is because the previous
administration, right? Point being launch a token this the other side meant some people could have considered this as some sort of a raise or whatever right, because I was an absurd amount of money that they raised to build this metaverse. But it's not right. It's still a collectible. And so I think it's really good precedent for the company, for the industry they won because that clears a lot of pathway and because Yuga has tried a lot of different things.
And if all of it is dismissed, then that's good, right, as a whole, so. Yeah, absolutely. So we'll see what happens then. So this is good. I'm just hyped dude, like on the founder level, like I'm really happy because every time some things like this happens, I send to logs for Co and I'm like dude, like we can do so much more than we think. So it's good. I'm really happy we've been waiting the this clarity is getting better. I know the market sucks, but.
You're still positive? I'm positive as the founder because I can do much more dude, like for Myriad now, like I'm like, wow, like the coast is so clear for me to just try shit and just do dope stuff like, you know, could be fun. I mean, I don't know. Anyways, raffle ball dot XYZ. We'll go through one more topic. Maybe it's just so we can get you guys the raffle. Sorry, raffle ball dot XYZ raffle ball dot XYZ every Tuesday to Friday, shout to robot. We do a robot spin and everybody
wins. There's always someone winning. You come on the stage, you win something 100%. So raffle ball dot XYZ. The code is candle CANDLECANDLE candle. So while while we while you guys enter quickly. Did you guys see this news, Tyler? What else happened? Ricardo Salinas net worth of 5.8 billion. That locate allocates 570% of his portfolio to Bitcoin. It's huge. Huge, huge.
I think he's smart. I I don't think billionaires are are storing their their net worth in Bitcoin because they think this industry is all going to 0. Yeah, did you see nature? Rossi's point? So the way the way the way BlackRock is selling it now is if, if every millionaire in America tries to buy one Bitcoin, there's not enough Bitcoin. Like it, It's a good pitch. It's. One of the best pitches out. There, right, It's the best
pitch. Like right now, if you think that we're about to maybe go through a trade war, maybe certain regional wars flaring up like it's tough. Oh, you don't want to own Bitcoin. Imagine you owned a multinational right now and you're like, what can I hedge? Bitcoin only you. Want to own stocks? No Bitcoin gold and and maybe Bitcoin. Just Bitcoin. I just want Bitcoin. I I I should have bought the laws of 70K and just like logged off and worked forever.
This is like this is how I feel about this whole thing. I mean 82 K is not that far from 70K so I could do it now but just Bitcoin. Bitcoin is so comfy like even that last. Yeah, but it, it could still go a lot lower, you know what I'm saying? I'm just saying that the the IT will always rebound. I mean, we could definitely revisit that 75K mark again.
I guess March 7th, we'll see what happens, but I don't know, like my my, let's keep our expectations low so that we can get surprised on Friday. Very low. Because news into a good news into a low volatility Friday could be pretty nice. I mean, personally, I love the genius of announcing strategic reserve on a Sunday when traditional markets are closed and Wall Street sleeps for the first time. Retail investors win. Traditional finance better catch up or will quickly become
extinct. The world no longer runs a Monday to Friday, 9:00 to 5:00. I love that it's so good. I think this is my favorite copy pasta in the history of crypto. Yeah. I think this has become it's my favorite one above the in case of I may have to turn that pasta into like a button on my Rd. caster. Thank me later. We might actually need that. I've been sending that pasta in every chat like I just people write talk about life. I just fucking hit it like it's
so funny. Anyways, all right, y'all, let's let's go let's go. Let's let's do this giveaway thing Meanwhile, while you bring it up, Tyler Sims, let's do it. But as you see, the fear and green index went to 10 to 36 back to 15. Feels right. I, I, I don't know, I actually feel like fear is worse today than it was last week. Well, because we got to, we retraced the entire fucking biggest candle in history. Like that was the first time, like people got destroyed.
Yeah, I was talking about this, but yeah.