← CRYPTO 101
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- [00:00]
Brendan
Foreign welcome back to the Crypto 101 rundown presented by Gemini, your bridge to the future of money. And we are stoked to be able to be back here with all of you once again. Man, let me just tell you what the markets are ripping. We have everything ripping all of those risk on assets, especially the crypto market, just on a mission to Mars as we are coming in hot here on a Monday morning. Bitcoin back over 115,000. We have Ethereum over 41, almost 4,200 Salana right around 200 bucks. And the crypto market is seeing a nice rally towards the end of last week. Going into the start of this week, especially over the weekend, we're getting a lot of buyers here on bitcoin and we're going to talk about why this is happening. We have some really big crypto related news, some really big news that's still going to be coming up this week that we want to make sure that you all are informed about. And then some kind of like macroeconomic tradfi news that is bleeding over and really given the crypto market the extra push that it needs to go back to all time highs. So it's going to be a big breakdown. We're excited to have all of you here. All that we ask is that if you like the content, hit the like and subscribe button. If you're coming in from Audible or Spotify or Apple Podcasts or iHeartRadio or any of those and you want to see all the visuals that we're talking about on the screen, then go over to our YouTube channel. It's called the Crypto 101 podcast over on YouTube and we have all of this content, of course, completely for free for you all to watch. So TiVo, what a week, man. We are coming back here with some fiery vengeance. I'm feeling, I'm feeling alive right now.
- [01:46]
TiVo
Yeah, absolutely. Good morning. Good Monday to everybody. I was telling you before, it's my, excuse me, it's my flu game. So Brendan's gonna carry this one a little bit more than Norma. You know, just not feeling up to 100, but couldn't miss the rundown. Bitcoin, crypto flying, gold slide sliding. I think somebody might have told you that last week that, you know, yeah, could happen. So we're gonna cover that later in the show. Thank you. TiVo might be trending on X. I haven't checked yet, but yeah, there's, there's a lot going on. We were here Friday with Brian and Joe. We had A good, you know, a little bit of macro, a lot of meme coins. But there's stuff changing over the weekend. We've got rate cuts this week. We've got China Trump, China meeting. Could cut a deal here. There's stuff leaking. Scott Bessant did the. The media rounds yesterday, which we're gonna cover. So just a lot of. A lot of awesome stuff and. Yeah, great to be with you on a Monday.
- [02:38]
Brendan
Yeah, exactly, man. You know, I. I could be wrong here, but I'm pretty sure I saw TiVo. Is Satoshi trending on X? But it was. It was that, I think crypto bagel ethu calls. Like, I think all of those were. Were trending. And I just saw a lot of pictures of your faces.
- [02:55]
TiVo
Hey, man, listen. Yeah, did you see that? Is that real? That poly market is Trump? Satoshi was like, 59. I can't I check. That has to be a joke, right? Or is that.
- [03:03]
Brendan
No, it was real. Because CZ came out in an interview and he's like, I don't know, maybe Trump could be satoshi. And then the odds spiked and it was. Yeah, that's what happened.
- [03:12]
TiVo
I guess I was. The odds spike quickly because I was like, well, how does that. How does that. Sorry, a little off. Off tangent here before we jump into the charts. But how does that get paid out? Like, is it just the rest of Trump's life and then if he ever passes away and it's not true, it's a no. How does that. How does that bet end? You know what I mean? It's one of those poly market ones where you got to definitely read the fine print.
- [03:34]
Brendan
Yeah. First of all, I have no idea how it ends or when it ends. I would imagine it won't end anytime soon. And two, I thought about putting my entire net worth on the opposing side of that, because anybody who's in the crypto space just know that the likelihood of that is sub.001%. Like, it's. Yeah. Anyway. And it was the underdog, which I couldn't believe. But, you know, we're here to talk what's going. What's going on in some of these big catalysts. Behind the scenes, we always like to kind of just open up things with the chart again. We know we have a lot of catalysts to talk about, but we want to open up things on the charts here just to kind of show this nice move that the crypto market has gotten as we had a nice bump back to the upside. So.
- [04:19]
TiVo
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- [05:35]
Brendan
Listen, I mean here's what we're seeing over here with bitcoin. We have bitcoin coming in off of these lows of last week into honestly a pretty scary territory. TiVo, we were talking about this. What we are seeing is a second failed breakout, a second fake out. So we hit the all time high, came down, failed breakout, came down, failed breakout again came down and we started breaking structure. We are breaking that anchored V WAP. We are breaking the 200 day moving average. We are breaking down the lower lows as we saw rejecting some of the short term moving averages in here. And it was a scary spot. Especially when we started to see these lower lows come in below the 200 day. And what we saw was there was just a tremendous amount of buyers. They came in at 103. This really was like the line in the sand. And prices now back up about 11 and a half percent to the upside on Bitcoin back to around 115k. But it's not alone here. I mean you can go and you can see Ethereum again kind of in a scary situation as well. Four failed breakouts, five if you count the one from 2021. And after this move down, followed by a pennant, which is not always a great thing to see, but we bounced off of this. We broke to the upside and now we're back at that 50 day moving average. So again, some life kind of coming back in the altcoins. Ethereum is up from October 10th about 20% to the upside. Same story over here with solana holding that 200 day moving average. Unlike some of the other ones that didn't break, it's up about 16% back to the upside. And we're starting to see some of these other altcoins as well. Obviously during the liquidation event, XRP sold off big time, recovered quite well. It's pushing back up now to this previous floor of around $2.70. We know it was bouncing off this a lot before. You know, now we're kind of looking at the saying this could be a big resistance level. But overall, I mean I can. The big takeaway is that altcoins are bouncing off of these lows. You kind of have BNB over here bouncing as well off that 50 day moving average. I've been tracking a couple of these other ones as well, such as like Athena and Hyper Liquid. And again these things are back into a little bit of an uptrend. Same thing with Pump came down to around 3, 10 of a cent and now it's up about 40, 50% from those lows. And then of course Hyper Liquid with just a fantastic rally of around 40% as well. But we're saying all this because altcoins are seeing a pretty good bounce off of this and that's what we really want to see because obviously bitcoin's been doing fine. Bitcoin has been contesting all time high. After all time high it's altcoins which have been lagging behind a little bit. But we're still kind of seeing a little bit of an uptrend here since September in terms of bitcoin dominance. So altcoin still, you know, a little bit weaker in comparison to bitcoin. But we want to see this start to shift down so that altcoins can rally. And we've said this a million times, but I truly do think the next big move for altcoins comes when the government comes out of their shutdown. The government's no longer frozen and we have the SEC start approving these altcoin ETFs. I really do believe that that will be the catalyst kind of marking point for altcoins to go on some of these big runs that I think a lot of us are used to. And so that's one of the big catalysts that I'm still watching out for. So keep an eye out for that. But I mean listen, beyond that on the charts, you know, crypto seeing a nice rally. The other thing that we did see here is that, you know, talking about all risk on assets, you know, we have the tradfi markets gapping up after gapping up after gapping up off of some of these scares that we had. And this kind of leads into some of the fundamental news that we're going to talk about. But the good news here is that again, risk on assets across the board, crypto stocks, you know, equities, you name it, we're seeing a lot of positive sentiment and this is what we want to see. So that everything kind of can, can really just continue this rally so far. But yeah, I mean, pretty electric here. TiVo, I even saw that a lot of the crypto related plays, you know, we've talked about, you know, now Gemini obviously publicly traded Circle, Robinhood, a lot of these people, like, I would say like secondary exposure forms of crypto coinbase, another one, all seeing a pretty positive bump here on the day. And it seems like anything that's kind of related to crypto is getting a push as well.
- [10:03]
TiVo
So yeah, no, it's, it's, it's something to watch in the sense that there's a lot of news this week at the macro level. Obviously, you know, you got to stay on your toes with this administration. There's they're going left, they're going right. You know, China's in the doghouse and we're making a deal with Canada. Now Canada's in the doghouse, we're making a deal with China. So you know, again, that's again why I hope people come here, you know, times a week to get their news because we're trying to stay apprised for it for everybody. But this week all eyes are on the U S China trade deal and then chair Powell is going to give an announcement on rate cuts as well, which you know, the consensus is that there's going to be another 25 basis point cut. But could it be 50? Probably not, because my thought is that again, the odds are saying this as well, but the thought behind it is we haven't really gotten much data with the government shutdown and they're just kind of easing their way into the end of the year. But again, Pop kind of showing us the way here. He's thinking asset prices are going to go crazy. You're going to the US China deals announced, Fed cuts, rates. Does that get everybody bowled up or is is everything, you know, with today's move and who knows what tomorrow and Wednesday brings at this point. But, you know, is this something that could get a little bit baked in over the course of the next couple days, you know, something we'll have to keep, keep an eye on?
- [11:22]
Brendan
Yeah, I mean, listen, it's going to be a massive week for again, all risk on assets on the Tradfi side. 35% of the S P reports earnings this week. So massive earnings week. You have the US China trade deal stuff that's starting to come through and we're going to talk about that in just a second. And then of course we have J. Pal talking about his rate cuts. So before we get into that, you know, we have it on the screen right here. U.S. treasury Secretary Bessant says China is ready to make a trade deal which would remove the 100% tariff. Now, this was something that spooked the market for pretty much the last two or so weeks where people were nervous, right, because it was, you know, Trump was not going to meet with G. Then he was, then he wasn't, then he was. Then there was no, there was lowering tariffs and then there was, you know, a big spike in them of, oh, it was going to be over 100%. And we've seen this back and forth of like, what is going on? Are they communicating? Is something going to get done? Is there going to be tariffs? And now it looks like there is, is probably a resolution in sight. And so that was a big kind of catalyst that caused this recent bump up that we saw. And again, everything related to the risk markets because China's such a big trade partner and such a big just market in general, economy in general. And so when people were looking at this, they said, okay, you know, hey, we, it looks like it's getting resolved, huge bump. But we saw just kind of this rally come out in terms of the crypto market and we saw a turnaround. So this is a really good thing. Again, we're hoping that this is going to get kind of resolved here. It seems like the only thing left. It seems like everything's done from my understanding of it. All the hard work is done. It's just a matter of the two leaders getting together and like finalizing it and saying, okay, it's official. So that's a Good thing. So we're seeing that. And then the other half of this is jpal, like you said, coming out this week and announcing, hey, we're ideally going to cut rates again. We had the inflation report last week come in lower than expected. It was expected at 3.1%. It came in at 3%. So, again, inflation, which is so funny because we've been talking about this since the tariff flows of all these economists, all these different people saying this is going to cause inflation to go rampant and it's going to be this huge thing that we have to worry about and we're not going to get rate cuts. And it was such, in my opinion, it was such a ridiculous idea or theory. And you could tell pretty early on that when it stopped showing up, it wasn't going to be an issue. And everyone just said, oh, well, it hasn't come into effect yet. One more month, one more month, one more month. And it just never came around. And I think finally some of those people who have been crying for it are starting to fade into the background. And it's just something that we just are likely not going to see and we continue to see lower than expected and pretty cool inflation prints for the most part, especially to the inflation that actually matters. And I'm glad, really glad that you pulled up truflation because they show the true inflation rate. And we've had them on the podcast as well. Brilliant minds. But, yeah, True inflation at 2.48%, that's pretty low. That is genuinely pretty low. Especially when a couple of years ago it was almost at, well, depending on when you looked, but it was almost at 10%. So, yeah, I mean, this is coming down. TiVo, what are your thoughts on this? I mean, clearly it's going to be a big week, a lot going on.
- [14:55]
TiVo
Yeah, 100. I think that pulled up truflation just because, again, we've had them on the podcast. We've talked about it a lot and I, I was kind of getting not, I don't know if word was the right word, but I was getting intrigued when, like, we saw this. We've been, obviously we've had, I think we had the. On the podcast before December of last. We had them on the podcast like a year and a half ago, but like, we saw inflation falling like a rock. And again, that, that's a tool in the toolbox for how, you know, some of us on the team like to make decisions for investments. And so it's kind of going off that, you know, in the earlier, in the beginning of the year. And then it got to the point definitely in March, April area, where I was just like, you know, this thing's been non stop going down. Like the inflation has to tick up a little bit and at least bounce around. So I thought it was interesting to see that actually happen and kind of understand the readings that it's the data that goes into it, because I know the, you know, what the government uses, there's a couple things that are just, it doesn't make sense. They need to go in and change the model. Yeah, like it was like housing, it was used cars. It's like used cars and, and cars. Like, okay, the rates are gonna help, REITs are gonna help, car insurance and used car. It's. It was crazy. So I was trying to understand that. And, and now that it's coming down again, you're seeing the asset prices react to that a couple months later. So it seems like it's finding its footing. It's like a nice little TA chart here, right. It's like they made its nice bottom, then it came back up and it's definitely rang. So. Yeah, I just, I think it's something that you gotta, you gotta take into effect and I think the Fed seems properly balanced to keep cutting rates. I, I heard some, you know, some economists say the other day, basically, if you take everything into account, the, the Fed's at neutral right now. Oh, you know, they all agree that they're in a cutting stance. So if you're in a cutting stance and in a cutting cycle right now, they're technically at neutral. So more cuts are coming. But again, there's, there's a lot more things. It's not just rate cuts equal higher prices for assets. Obviously there's all the trade stuff and the tariffs and everything that's going on. So you gotta, you gotta take all that into effect along with, you know, the AI trade and the crypto trade and all that stuff. So that's, that's what we try to do is kind of take it all in. But it's sounds like you got some work going on there, Brandon. I thought my, my guy was drilling.
- [17:07]
Brendan
Over here just scared me half to death. I don't know what that was.
- [17:12]
TiVo
That was wild. But yeah, just whenever, whenever I see Treasury Secretary Bessant on tv, I get a little excited because usually he's, he's the guy that's bringing like the good news for the markets again. Back in April, when we had the tariff scare, they, they had Lutnick and Bessant and I, I Can't remember the other guy slipped my name. But they. They hid that guy, the third guy, he was going crazy on the tariffs, and they. They said, hey, you need to stop doing interviews. Lutnick kind of scaled back, and Bessant was the leader of the voice, and he calmed the markets down. So whenever you see on Sunday, which is yesterday, I saw bets and on every channel. Abc, NBC, cbs. I was like, all right, this. There's good news coming out this week for sure. And then you're good, Brandon, Good.
- [18:01]
Brendan
Yeah. I was just gonna say we're gonna have to probably just deal with it. I'm sorry. It's gonna be a little bit loud. I have no idea what's going on, but clearly a little bit of work. But, yeah, I mean, I think all of it's pretty valid. And we could probably look at some of this selling pressure that is subsiding. TiVo.
- [18:16]
TiVo
Yeah, let me pull that up. I got that chart right here. So bullish selling pressure has subsided. So it's oil fund funding spot and perpetual. So you can just see like, hey, there's, you know, people sold. There's a little bit of volatility. Right. But, you know, overall, the sellers are kind of coming to an end.
- [18:35]
Brendan
Yeah, exactly. And there's a couple of things to understand. So there's three parts to this. You have the black line, which is Bitcoin's price. You have the blue line, which is going to be the spot cumulative volume delta. This is essentially like how much spot market buying is happening versus selling. That's happening. And then you have the yellow line, which is going to be their perpetuals cbd, essentially just how much futures buying versus selling has happened or is happening. And so what we see here is when you put all of these on the chart, we're seeing a flattening out, which means that we're getting close to something happening, essentially like ideally a bottom in this scenario. What this also kind of shows is that sellers are exhausted, which is why it's flattening out. And ideally, what this is an early indicator for is that there's a reversal kind of at play. So we're seeing the bulk of the selling pressure kind of come to a slowdown or almost a stop. And you could even argue that not only is the selling pressure stopped, but that it's starting to go back to the upside, so that the buyers are actually coming back in and taking control.
- [19:39]
TiVo
Great stuff. I just. Sorry for everybody sitting live. I got. I got. I don't think you can hear it on My end. I have somebody on my floor doing drilling. Brendan's got drilling. I mean, this is. It's almost comical. I feel like I'm on a TV show right now. But we'll keep moving on. I. I guess this is my segment. Gold slides. Bitcoin flies. Thank you, TiVo. So if you tuned in last week, we pulled up this chart here. And again, it's not necessarily a predictor. Past results do not guarantee future performance. But we've been, we've been telling the story of gold on this program, and we're not. We're not anti gold. I know Brennan holds some gold. I'm, I'm. I hold a little gold. Like, we're not anti gold. We just do think that, you know, long term, bitcoin's going to be better in the future. But there's some, you know, some study. If you go and study the past here. We showed it to you last week that, hey, when. When gold goes on a great run. And again, not anti gold. Part of this, part of this thesis was gold has to kind of go on a. A good run and lead bitcoin. And it did it in 2020. And then gold topped out and came down. But when that happened, bitcoin kind of ripped up and went, you know, absolutely parabolic afterwards. And so we've seen nothing but this wild gold run. It's one of those ones. I haven't used this reference in a while, Brandon. It's like the A block, B block of all these finance channels, man. I feel like gold has been on the a block of. Of these TV shows for the last. I'm gonna call it two to three months, maybe longer. Right. It's just been a historic run for gold. So congrats to the gold bugs this year. But again, everything, eventually, nothing goes straight up forever. And that's. We say that all the time. All coins. You see that hockey stick, you got to start thinking, okay, what's your strategy to make sure you're locking in some type of profit around? Risk mitigation. When you start to see the hockey stick. So we. We see a hockey stick in gold right now. And then again, is it just a short little pullback? Is it going to keep rocketing? You know, we always say nobody has the crystal ball. If anybody's telling you they do, they're lying. But we are seeing gold pull back. You know, it was up at 43 above 4300. Now it just dipped today below 4000. And then you can see today, right Sunday. Last night, the futures open Market opens higher. Bitcoin higher. So is that, is that the new trend right now? We'll have to see. I don't. It's something that is finalized yet, so I can't take a full victory lap, but I will take a half. I will take a half. It's Monday. It's my flu game. I'm here for you. But I will, I will say that, you know, bitcoin, at least in the short term, since we, since we brought it up on the program, gold's been down and bitcoin's been up at a pretty pretty, you know, volatile margin for a short period of time. All right, Crypt Nation fam. Are you interested in effortlessly growing your bitcoin portfolio? Because I know I am. The bitcoin credit card by Gemini earns you bitcoin back on every purchase. Use it like any credit card. You buy lunch, you get gas, any of your weekly grocery expenses and you'll earn up to 4% back instantly in Bitcoin or one of over 50 other cryptos straight into your account. All that with no annual fee. And right now you can grab 200 of bitcoin. That's right, a 200 bitcoin welcome bonus with the Gemini credit card. It is the easiest way to start building your bitcoin stack. Go to gemini.com card to learn more terms apply. See the link in the description for more information regarding rates and fees.
- [22:57]
Brendan
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- [23:13]
TiVo
No, it's not.
- [23:14]
Brendan
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- [23:21]
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- [24:26]
Brendan
Yeah, and the idea here is that like, hey, I mean, we talked about it last week, how much gold was up, right? Having this 100% rally from its kind of prior highs that it broke out of from 2,000 to 4,000. That's a big move for metals. A 100% move is a lot. And so could there be this idea? And again, kudos to you. You were the one who brought this up of could we see a bleed in gold at least for a little bit and have that go into things like crypto? And I think the answer there is yes. And we're seeing that, right. Gold's coming down aggressively and we're seeing that bitcoins rising aggressively once again here. So I'm kind of for the idea.
- [25:03]
TiVo
Yeah. And something that we'll continue to watch. It's one of those things. We do this on the program a lot. Right. We mentioned some kind of thesis and, and a call, and we'll kind of maintain it and kind of come back to it and keep, keep checking. We do that. You know, if Brendan makes it or I make it or the meme coin guys, we kind of revisit it. So we'll put that on. On the radar to keep revisiting whether it's right or wrong. You know, we'll. We'll. We'll be honest. And that's what we're here to do is, you know, have some fun, but also keep ourselves honest. And I guess with that, we'll move on. We'll keep. We'll keep tracking that one we got. So I didn't see this. Bren, you brought this up, but Mt. Gox repayments postponed one year. No Mt. Gox related Bitcoin will be hitting the market until 2026. Initial thought, what's your take on that? Is this good for the price because no bitcoin's coming online so they can't sell it. Or is this. We want more, more liquidity in the markets for people to use. What. What's the take here?
- [25:57]
Brendan
Yeah, the take here is that this has been a pretty scary event where people are like, oh, all these bitcoins are going to come into the market. They're going to be given back to investors. They're going to have to sell them off or they are going to sell them off. And so people just viewed this as like one of those potentially big selling events. And it's looking like, hey, this thing's getting pushed out. You don't have to worry about it. And so it's just another positive catalyst where there should not be as much selling pressure as there was anticipated beforehand. So again, just another kind of bullish catalyst here for bitcoin.
- [26:28]
TiVo
Yeah, I mean, I might as well punt it out as long as you can then if it's. It could be a negative market event. Again, I know we did the, it was when the ETFs came live, we were kind of tracking, you know, all the other ETFs. Obviously they were new, so they had inflows and, and grayscale just had this massive outflow event that we were tracking for a while. And then I remember we had the, we had like a celebration day when we finally saw the, the grayscale ETF had a green inflow. So kind of seems like it might be something similar to that. Once these, you know, people that have hadn't have another bitcoin for almost a decade probably, or get it back, they're going to start selling it off. It makes sense. But, you know, pun it out a year was something to keep track of for sure. But also, you know, every year you punt out, you're closer to the next having. And, you know, we've, we've, we've known. Cover the history of the having very well in this team and program. So, you know, don't want to be selling at that point. Right. But we'll, we'll see. So we'll keep tracking on that. Moving on, we've got some Coinbase news. As always, I feel like Brian Armstrong is again, friend of the show, of course. And we're actually interviewing somebody from Coinbase this week. Right. Coinbase Echo, a new, A new program. That's exciting. So some. I know we're doing Opensea today. Like, we got some heavy hitters actually on the podcast coming up. So. Good, good end of the year for guests. But Coinbase aims to move the entire startup journey on chain, says Brian Armstrong. I guess what he's relating to there is, you know, bring startups on chain, give, give the people the ability to, you know, buy some stock via. Via on chain, you know, rails. Right.
- [28:03]
Brendan
I think it's even more than that, which I believe is happening, but they're looking, with their most recent acquisition of Eko, which is what we're going to be talking about on the podcast either today or tomorrow, and then we'll upload it later. But essentially they're trying to bring the whole startup journey, funding journey, like all of this on chain with their most recent acquisition. And I think that's what this is talking about, which is an interesting concept.
- [28:28]
TiVo
Yeah. And it's, I think Coinbase. Well, you know, bias, obviously, with Robinhood and the amazing Robinhood call that, that we made on the show from $9 to 130. But it felt like Robinhood was kind of leading the way of. Of kind of just constant innovation in releasing, like, the way they, the way that Robinhood built and released products so quickly. I felt like over the last year or two years, especially in cr, was amazing and Coinbase was always the leader in the frontier of crypto. Robin Hood's been kind of trying to. Yeah. Kind of trying to catch up. And they, they definitely have in their own way. And I think Coinbase now, I think Brian Armstrong has, Has kind of been reinvigorated. I think Brian Armstrong and Vlad, you know, competitors, quote. But I think there's mutual respect there and just trying to build out the space and come up with awesome, unique products and, yeah, I mean, democratizing finance for all and kind of getting. Taking down the rails of like, yeah, why can't the average person, you know, get involved with some of these companies before they ipo? Why can't we at least have the option or understanding of. Of what to invest? Like, I can go right now. There's. I live in Tampa, so there's a hard Rock Casino 30 minutes away. If I wanted to, I could go and pull out my life savings from my bank account and go over there and spend 12 hours at a casino and do red or black and, you know, lose everything. So why can't I do the research and invest in companies that are trying to build our future? I think that's a huge, you know, a huge miss for, you know, the retail investor and kind of, you know, they call us dumb money, but the retail investor has had a great decade and definitely a great five years. So at least give us the opportunity. You know, we understand the risk and the education part, but continuing on, just a couple quick hitters. And again, we apologize for, for the, the sound today. Just a. A bad. Some bad luck there for some, some support going on over at Brendan's neck of the woods, but I'll take us home with a couple quick hitters. Tom Lee posts that bit mine achieved 2.8% of the total supply. Like I said, something that we've covered. They're going for 5%. Bit mine is going for 5% of the total E supply. So they have reached 2.8%. So they are more than halfway there, which is astounding. They have 3.3 million eth. And I think the cool thing to watch with them and they've kind of leaked this out is they're working on a staking program. So eventually they're going to stake all this eth, put it back into the ecosystem, try to collect that the staking percentage, which, which for those who don't know is like a dividend with stocks. And then they're going to be printing, you know, a ton of money for, for the staking income. And then what are they going to do with that? Are they, is it a flywheel? Are they going to buy more eth? Are they going to do some more moonshot projects like, like he did with Dan Ives company who was doing the, the treasury company for World Coin? Again, the volatility here for a stock is something you need to do the research and, and it's not personal financial advice. You need to understand what Bit Mine is and definitely look at that price action because it is quite volatile. But again with Tom Lee at the helm, it's something that is, is going to be newsworthy anytime they do something. But just thought it was good to check in and, and let everybody know that man, they said 5%. And I remember when we covered this, right, it was like the beginning of it, like oh man, 5%. That's pretty wild. And here they are at 2. 2.8%. Brendan, any, any thoughts on. On bit mine?
- [31:56]
Brendan
I'm curious like what happens at 5%, right? That's kind of the big question because they're getting there so fast. But no, clearly, I guess. So does the buying stop?
- [32:07]
TiVo
Yeah, you just, you just hodl. I guess that's the, that's the staking program is understanding once they get to the 5% and it's staked, what are they going to do with the staking income? Does bit mine issue a dividend? Who knows? Maybe that would kind of make sense if you're a Ethereum treasury company and Ethereum gives backs to its holders, you might want to give back to your stockholders. So that's an idea. Or they, they sprinkle it between more ETH and more moonshots.
- [32:34]
Brendan
So again, something sell though, because they're going to. If the staking the dividend or whatever. That they earn. The yield that they earn on.
- [32:44]
TiVo
Right.
- [32:44]
Brendan
Is given to them in Ethereum. So if they're going to give that back as a dividend to their customers, they have to take the Ethereum that they earned and sell it onto the market, which I don't think would be a good idea because selling, which could be an issue.
- [32:58]
TiVo
That's a good point. That's a very, very good point that, you know, Tom Lee and his quants are way smarter than me at math. But it's. It would be something that I guess in the prospectus you would announce, right? It's like, okay, we're staking X amount of eth, which is gonna, you know, give us, you know, X percent, which we estimate, you know, quarterly will be X millions of dollars. And we're gonna take. Or, I'm sorry, X millions of eth, which equals this. Millions of dollars. Like, we're not gonna. Every reward, we're not gonna sell it all. We're gonna sell 20% of the reward and then so you're gonna see us selling Ethan Chain, but It's really just 20% of whatever reward. 80%. We keep 20%. We distribute. You know, I don't know, some, some type of announcement slash education for the, the investors, which I'm sure Tom will do because, you know, he's a standup guy and another friend of the program. Speaking of the friendliest friends of the program, CZ was in the news this weekend after his pardon, taking an absolute victory lap on the Trump tour. CZ and Dana White Uncle Dana there doing a full UFC experience ringside in his Binance polo. He's got his little. Is that his. Is that a ufc? Because it has his picture on that. So I don't know if that's like a Press Pass with CZ's photo on it or is that his Binance company, like, id? I don't know what that is.
- [34:17]
Brendan
I don't know.
- [34:19]
TiVo
Let me see if I can zoom in on.
- [34:21]
Brendan
Because it's yellow. So I don't think it would be ufc. Yeah, right.
- [34:25]
TiVo
I think that's hilarious. So I kind of. This was just a little tongue in cheek tweet, but again, he gets pardoned by. By Trump. A lot of people, you know, it was a political thing. Everybody took their, their sides appropriately. But I thought it was funny that, you know, I didn't think this was just CZ at a, at a UFC fight. It's like he gets pardoned and then immediately hits the press tour with Trump's inner circle. Just thinking out loud. Maybe a Binance IPO coming soon. You know, I just, I thought, I thought that was a funny tweet. People seem to like that, but yeah. Any thoughts of cz, you know, jumping right into the Trump center circle?
- [35:00]
Brendan
I have mixed feelings on CZ personally. I think he, he has been involved in some sketchy things, probably some manipulation, but I mean, he's clearly one of the big leaders in crypto. He's has the, arguably the largest exchange up there with Coinbase. So love him, hate him. He's a leader in the space and he does want crypto to succeed. So you got to respect that.
- [35:24]
TiVo
Yeah. And again, the fact that he's pardoned now opens the doors for him to be a lot more involved at a professional level and a regulatory level, maybe even in the government. So, again, it's just news. We're going to keep bringing it to you guys. We're going to cut this one a little short today just because of the technical difficulties around the sound and some construction. We do apologize for that, that, but we appreciate everybody tuning in on a Monday and you know, the market's ripping right now. I think Brian and I are going to try and do something around the Fed rate cut on Wednesday. If we do, I'll post it in the, the YouTube post to let you know what time we're going live for that. And then we'll, we'll keep everybody apprised for, you know, if there's any huge market movements. Again, we'll try and get a second one in later in the week, but we appreciate everybody tuning in. Hope they have a great rest of your day. And until then, we'll talk to everybody later. All right, have a good day everybody.
- [36:15]
Brendan
Bye bye.
- [36:28]
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