← CRYPTO 101
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- [00:00]
Brian
When we started this podcast, it seemed like we had to figure it all out on our own. Scripts, set up, filming schedules, logos. It was super overwhelming and every day seemed to introduce a new decision that needed an answer. When you're starting off with something new, it seems like your to do list keeps growing every day with new tasks and that list can easily begin to overrun your life. Finding the right tools that not only helps you out but simplifies everything can be a game changer for millions of businesses. That tool is Shopify Shopify is the e commerce platform behind millions of businesses around the world and 10% of all e commerce in the US from household names like us at Crypt Nation and the Crypto 101 podcast where you can get our book and merch to brands that are just getting started. Get started with your own design studio. With hundreds of ready to use templates, Shopify helps you build a beautiful online store that matches your brand style. Accelerate your efficiency Whether you're uploading new products or trying to improve existing ones, Shopify is packed with helpful AI tools that write product descriptions, page headlines and even enhance your product photography. Get the word out like you have a marketing team behind you. Easily create email and social media campaigns wherever your customers are scrolling or strolling. And best yet, Shopify is your commerce expert with world class expertise in everything from managing inventory to international shipping to processing returns and beyond. Start your business today with the industry's best business partner, Shopify and start hearing. Sign up for your $1 per month trial today at shopify.com crypto101 Go to shopify.com crypto101 that's shopify.com crypto101 I'll be honest, once it gets hot out, I'm not trying to overthink outfits. I want something that's comfortable, breathable and still looks like I tried a little bit. That's where Quint is coming for me and I absolutely love their 100% linen drawstring pants with the matching short sleeve button down that I just got from Quint. Guys. It's exactly the kind of thing I want in the summer. Super easy to throw on, doesn't feel stiff, it doesn't feel heavy, it's breathable and it looks clean without being too dressed up. It's basically vacation energy without looking like you packed in five minutes and you can have that vacation energy all summer long at home as well. Quinta's high quality essentials without the luxury markup. We're talking linens, organic cotton tees, lightweight sweaters, all the stuff that you actually wear. Their European linen pants and shirts are a great warm weather upgrade. And the price is right. They're starting at just $34 and pricing is a big part of it. Everything at quince is 50 to 80% less than similar brands because they work directly with ethical factories and cut out the middleman.
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- [03:27]
TiVo
Welcome back to another edition of the Crypto rundown. Is the bottom in? There's signals all over the place, both technical and data points from past cycles that people are really starting to dig into and say, hey, may, have we
- [03:41]
Brian
hit the bottom already?
- [03:42]
TiVo
It's one of those things, Brian, if
- [03:44]
Brian
you feel like people are saying the
- [03:46]
TiVo
bottom isn't in, it's impossible for the bottom in. That's where you can start looking around for some statistics to maybe prove otherwise that the bottom could be in. Some big talking figures have mentioned a bottom in on bitcoin and upside to come back. So we're going to play those clips for you there. We've got a bunch of other statistics around DATs that are buying. Michael Sailor continues to buy, Tom Lee's buying. There's just honestly, there's a lot of bullish tape back to kind of the flip side of the bullish tape, especially at the macro level as well. So we're going to cover it off for you here on the Crypto rundown as we do an episode for me from the road from the old school basement where I first started producing the Crypto 101 podcast. So you got to love an old school vibe every once in a while. Brian, the Dennis brothers today, me and you, welcome back to the show as we fight through the mouth pain.
- [04:34]
Dennis
Hey, you said it before we went live. Nothing's gonna hold us down. You know, you can't hold down the bitcoin bulls, baby. They want to hold us down. The light might not be on in the background. But I'm sure you kept it plugged in at your spot right now.
- [04:50]
TiVo
Absolutely, absolutely. They tried, they tried. They're like, listen, I went to the dentist. Brian and I both were at the dentist. A little fun way to start the show.
- [04:57]
Brian
No HIPAA violation, hopefully.
- [04:59]
TiVo
But they're like, listen, your tooth, it's just so impacted your wisdom teeth, it's
- [05:03]
Brian
curved, it's right on the nerve.
- [05:04]
TiVo
You must be in. So. And I go, yeah. I just, I can't, I'm so much pain, I can barely think. They're like, well, like, how are you working? You need to get this out. I go, listen, not only am I working, I'm working with a passion. And a passion of mine is to record this episode today.
- [05:18]
Brian
You will not keep me down.
- [05:19]
TiVo
They were wondering, they're like, how are you operating as a person? I was like, listen, just, just fueling on Hopium. That's just Hopium. You know, the gas mask, that's me. The hoping gas mask.
- [05:29]
Dennis
As we move on, they have no idea who they're dealing with, man. I, I unfortunately went in for a cleaning and got some sort of a bill schedule to come back in a couple days. And they were like, you want to do this today? It's like, I got a rundown to be on. I got to come here for the people. So.
- [05:46]
TiVo
Hey, the dentist, the dentist, man, they
- [05:49]
Brian
said your nerves must be hurting so bad.
- [05:51]
TiVo
Like, how are you still doing this? And I was like, listen, we gotta get, we got, I gotta get out of here. We got the rundown. Listen, you're not going to keep us down. Just like you can't keep oil high as oil starts to drop. Is this the. I don't know, I feel like we've seen this like peace agreement for Iran. It's on, it's off, it's on, it's off. First peace, there's happiness in the streets. Then it's off, then it's on. Then there's more bombs. It's been very hard to track, but we track the, the truth. And the truth to us is the markets and, and really oil is starting to fall off a cliff after this weekend. There seems to be an agreement in place across the board now to get the Strait of Hormuz open, which will get oil flowing globally. And oil prices seem to be coming down. So the macro market loves that.
- [06:35]
Dennis
Yeah, for sure, man. I mean this is what, three month lows for the price of oil? I think before we got into this entire conflict, what oil was like 65 to 70 bucks, I think we're right around 80 bucks a barrel. Pretending on where you're looking. 75, 80 bucks a barrel. But I think the big takeaway here is that the geopolitical risk seems to be softening quite a bit. We don't have the exact fund framework of what this deal is gonna look like. It's not officially inked, but the market's taken. Like it's gonna be a done deal here. And it's one catalyst we need to move to the back burner. We need to get over this. Not just because of the prices of crypto, just for, you know, global peace, or as much peace as we can have. And oil, the oil's certainly going back to where it was before this entire conflict happened. So people would be keeping a pretty close eye on this. But it looks, it looks like this is a bullish take for sure.
- [07:32]
TiVo
And just to give everybody a little bit of a teaser, we kind of did some stuff last time with Brendan on the charts to say, hey, here's what we're looking at right around that 200 week moving average for some historic, historic low marking in cycle, cycle marking, really. And he's going to be back on Friday. We're going to do a live Friday with Brendan. So we're going to really emphasize the technicals on Friday. I will post the time in the community. You're not going to want to miss that alive with Brendan. So we're not going to do the technicals today, but we are going to go through some other things that we are noticing and what other people are saying. We'll start with the fear. Greed. We definitely dipped into extreme fear last week. We hit the 14 again. It wasn't that long ago again last month we were right in neutral, right in the middle, kind of even dipping and teetering on that 50 line not that long ago. And then another flash crash down into the extreme fear. As you can see here, we popped back up, came back down. So an interesting thing to watch as we go and flip us to the coin market cap, full market. A lot of, a lot of nice 7day. You know, the 20 index is at 6 bitcoin, 6 ethereum, almost 9XRP. Shout out to the army. Up 7 Solana up 13 hyper liquid. An absolute unbelievable run. We're going to cover that later in the show along with some SpaceX news that relates to Hyper Liquid as well. But showing and continuing to show how it's a powerhouse project right now. And again, just your top 20, just really strong, really, really strong. The last seven days, which you love to see. Even bints are getting off the mat there. So a lot of bullish price action over the, over, over the last week, which again, you know, you have the macro air getting let out a little bit, which is allowing things to rise. And then you're going to have this debate where we are right now, especially where the price levels are in bitcoin of, you know, starting to talk about, hey, the four year cycle. The four year cycle. Because as we all recall at the end of the year we were saying the four year cycle is dead. Now it seems to be more alive than ever, which is wild. So any, any macro takes there on the price action. Brian, or what, what are you feeling as we head into this, this kind of week after the last flush out?
- [09:40]
Dennis
I mean TiVo, was it just last week? Was it last week when we dipped to like 58,59,000 bitcoin? It was, I'm pretty sure it was last week. So that was pretty gross. And obviously Ethereum was getting rinsed out. We had Solana down pretty hard. Just everything. I mean we had hyper liquid trading in the 50s at one point and they were still doing massive amount of volumes, but the entire market was just absolutely getting rinsed. So it's good to see a nice bounce back certainly with the geopolitical tensions starting to subside. And then we're going to talk about it later in the show. Obviously SpaceX in that entire IPO and liquidity and everything going on with the SpaceX IPO was certainly a big catalyst and that's, that's somewhat in our rearview mirror or at least currently going on right now. But it does feel like if you were going to like liquidate a large part of your position to get into SpaceX, you would probably already have done that. So it's great to see that the market's starting to bounce back. I would love to see bit, I would love to see bitcoin a lot higher than it is today. But I think a lot of people have said this kind of the summertime right now, a lot of things going on, geopolitical rise, SpaceX IPOs, the ETF inflows and outflows does feel like we're kind of settling and we're moving sideways for a little while. Wouldn't be surprised to see us just hang out in this $60,000 range for some time. But starting to build that bullish tension, we're starting to get some bullish news out there that's starting to really reflect in some upward movements in the price. Again, I like where we are, especially when I was staring at a $58,000 bitcoin last week and it felt like the sky was falling and I was getting people texting me. Is crypto dead? The crypto dead? I think we talked about it on a rundown. That's usually a pretty strong sign that we're going to reverse and we're starting to see some reversal. So all eyes on some of these majors here, but certainly some, some we're going to talk about later in the rundown. But certainly certain protocols and platforms that are doing something in real life, bringing some real revenue to the table have been performing even better than bitcoin and some of these other ones. But not surprised that we're hanging right around 65, 66K.
- [11:57]
TiVo
Yeah, that's a great point. It's something that again, the digestion of the market and things move quickly when they move and then things move slowly when they don't. So, you know, there's a, there's the shaky out phase, there's the bore out phase and we're definitely, you know, fighting
- [12:10]
Brian
the bears with everything we can here.
- [12:12]
TiVo
But these are levels where again, it's not personal financial advice on, on our show, but these are levels where, you know, you really gotta do your research and there's things that are interesting like when Hype corrected, like you said last week. I mean, I guess while we're pulling up charts, we can do that. We'll save the, the news for Hyper liquid and the SpaceX stuff for later. Where's hyper liquid these days?
- [12:32]
Dennis
Like 10 or 11?
- [12:34]
Brian Armstrong
Nine.
- [12:34]
Dennis
Yeah.
- [12:35]
TiVo
So again, you saw this dip, you got it at, you know, 72 and you could have bought it at 50. Now you're all the way back up to 70 and that was in, you know, like a two week, two week period, so. And then the last week up 25% so, you know, the strong stay stronger. And I think bitcoin's interesting kind of gauge of liquidity, macro event and definitely getting some pressure with the release of the news of the war. And then again the Clarity Act's going to be on the table soon, which we're going to get to. But I think just kind of just checking the boxes, if you will. Tom Lee. Buying some more Bitcoin or. Sorry, so buying some more Ethereum. Sorry, Tom. Buying some more Ethereum strategy. Buying more bitcoin, truly leaning into the,
- [13:18]
Brian
hey, the selling of the whatever the
- [13:20]
TiVo
33 Bitcoin that sailor did was surely just kind of a signal saying like, hey, you know, we're not afraid to sell it. We will sell it. And kind of just a test, if you will.
- [13:33]
Dennis
Yeah, no, no doubt about it. And the one interesting part about this is, is it looks like the company also increased their USD reserve by about $100 million. So it's above a billion dollars. So they are starting to stockpile a little bit of cash here on the back end. So I do like to see that. And it seems like he's, he's picked to selling MicroStrategy stock and not selling his bitcoin, at least right now. And the, the stock, I, I thought the stock would have gone down with, you know, that news, but it was up yesterday a decent amount and just slightly red today the last time I looked. But I think it's really interesting that he's still buying bitcoin, but he's starting to stockpile some USD here. He's starting to get some cash on the back end. Understanding how people are watching that, and I, I think that's probably a smart move. We'd like to see him have at least enough money on hand to pay the dividends when they come due.
- [14:28]
TiVo
Yeah, it's a great point. It's, you know, all the different products that they have. Are you definitely getting a, you know, tighter look, tighter eyeball look when bitcoin starts crashing compared to when you're dancing around the 100k offering all these different preferred stocks.
- [14:41]
Brian
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Brian
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Especially recently with the war going on the straight of Hormuz, you're just kind of getting those updates as they come from these guys. They put out a ton of awesome content. It's a different perspective from crypto101, but still a great listen. So go over there and check out the Planet Money podcast. If stuff like current events and the finance world interest you, each story on Planet Money starts with a question. Recent episodes ask why Pokemon cards are growing faster than your retirement count. Questions about the war. Just like we talked about recently a lot on our program. From the job market to the stock market to prices at the supermarket, Planet Money explains it all. Planet Money is a different kind of world, where the complex economy somehow makes sense, where human stories supersede abstract theories so you can learn, laugh and be entertained. It's econ, but just down to earth. The hosts go to unusual lengths to explain the economy. 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- [20:10]
TiVo
seeing the world a little differently.
- [20:13]
Brian
And I think if you like crypto101, you'll enjoy Planet Money. So maybe check that out. Follow NPR's Planet Money podcast and understand how money shapes the world.
- [20:21]
TiVo
And then obviously Tom Lee and bit mine right behind them getting ready to offer. I believe it was like a 9% preferred. I don't think that started trading yet. But when it does we'll, we'll bring it to you and that'll obviously be something to watch. A little bit more of a feeder pattern or an easier, an easier feed of obviously the staking for Ethereum into the dividends. So the math will probably work a little bit easier for them but nonetheless something to cover in the space. Let's jump over to, you know, some talking heads. Our talking head section, obviously Brian Armstrong, Coin Coinbase CEO is going to talk positively about bitcoin, but none nonetheless. You know, he's kind of coming out and giving a take. So a hot take from Brian, something we want to listen to. And then we got a couple other people including Rick Reeder of Blackrock and something from Standard Charter. So let's do our talking head segment.
- [21:10]
Brian Armstrong
I think bitcoin is the new digital gold. I think it's going to be a key part of our economy going forward into the future. So I'm as bullish as ever. I think sometimes people look at these four year cycles that bitcoin goes through as well where you can kind of see the percentage of people who are, who have made money versus not. And I, you know, my instinct is we probably have bottomed at this point, maybe at the 60k market number but nobody can say for sure. Of course I'm optimistic as always. I think by 2030 we're going to have a much higher, higher price and I'm long bitcoin just like always. I think bitcoin is the new.
- [21:43]
TiVo
And jump over to Rick Reader. So Rick Reeder is, I believe, I know he's, he's called the bond king. He's One of the CIOs over at Blackrock. So interesting for him, whenever he talks about bitcoin you want to listen because it's really not something that he touches on a lot of. So let's see what Rick had to say.
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Rick Reeder
All against it.
- [22:01]
Brian Armstrong
One of your mutual funds I believe
- [22:03]
TiVo
still owns a little bit of IBIT
- [22:04]
Rick Reeder
Bitcoin and you were one of the
- [22:06]
Brian Armstrong
early people inside Blackrock to get into it. It's now sold off 50%.
- [22:11]
TiVo
Is it a buy now or are you going to wait more?
- [22:14]
Rick Reeder
Wow, these are specific questions. So listen, I think it's ultimately going considerably higher. I think the technicals, there's some technical condition around it causes it to chop around. I think it's ultimately going higher. We're keeping it a pretty moderate exposure quite frankly because I think there's Some other things that we already, we talked about in technology and some of the growth engines. By the way, they're places to get yield and things like some parts of the credit markets, em, that I felt like it's just okay today. And so we've reduced exposure. Ultimately I think it's going higher.
- [22:45]
TiVo
Ultimately I think it's going higher. I would like to note one thing here, Brian. This guy, Rick Reeder, awesome, awesome guy to listen to, very well spoken, has
- [22:54]
Brian
a lot of great ideas and really
- [22:56]
TiVo
covers the whole field.
- [22:57]
Brian
Like you kind of heard there, right?
- [22:58]
TiVo
He's not, you know, he's not anti obviously bitcoin by any means, but he's being completely honest.
- [23:02]
Brian
He's like, hey, there's other opportunities we're
- [23:04]
TiVo
chasing right now, but this thing's going considerably higher. Obviously you do have to take the fact that it is a BlackRock product with iBit, so you got to take that into account. But you know, you really got to notice this guy on national TV with two buttons undone. I mean this guy's on an all time. An all time wolf of the Wall streets. I mean that's, you know, an afternoon
- [23:25]
Brian
segment, cnbc, maybe a little three martini lunch.
- [23:28]
TiVo
And he doesn't even need to put the tie back on. He's keeping the two buttons down. It's June. He's given hot takes.
- [23:35]
Brian
I thought that was worth noting.
- [23:36]
TiVo
Like, that's the guy that I want to hang out with at the Wall street three martini lunch. You know, I don't know exactly where they might do it. Maybe Capitol Grill or something.
- [23:46]
Dennis
I mean it looks like good old R squared here is getting some sun as well, you know, I mean those. That's not Tom Lee sleeping in the little cot behind me, grinding charts. He might be the chief investment officer of BlackRock, but
- [24:01]
TiVo
you don't think he's had a couple dinners in West Palm so far this spring summer.
- [24:07]
Dennis
Yeah, I mean I, I love his take. I. I think it's a pretty fair take. And I think Brian Armstrong and Rick kind of nailed it. They both are saying long. It's. It's what we've been preaching, not just this cycle, past cycles, literally since the day I really was sold on bitcoin. And where we're going in crypto, it's like, hey, we're gonna get some corrections. We're gonna see our fair share of corrections. And. But the usually always up until this point, it's always responded very strongly in a very strong form. And both of them are basically saying like, hey, in the long term. And really what's your definition of long term? They're only talking in a. From now it's going to be considerably higher than where it is today. And that's what past market cycles have shown us. That's what the growth of bitcoin shown us. So love their takes but I mean Rick's definitely, you know, I bet he was deep sea fishing or something on Saturday. Looks like he's been out there.
- [25:03]
Rick Reeder
Yeah.
- [25:04]
TiVo
And then we'll wrap it up with Standard Charter. This isn't a video segment, more of a call basically keeping their 100k target. So 100k for Bitcoin, 4000 for Ethereum, saying, you know, not putting a guarantee on it obviously, but likely marking the cycle bottom at 59 000. I think we would all love to see that looking back in, in the charts as we continue on for the rest of the year. But they're citing Bitcoin ETF redemptions liquidity pressure with the SpaceX IPO easing macro stress basically again, everything you've heard on this show. So if you're listening to crypto101 you are in the right spot for getting all the information, the best and the fastest. But yeah, so Standard Charter coming out. It's good, it's good.
- [25:49]
Brian
It's one of those things again when analysts, this happens with stocks all the
- [25:53]
TiVo
time when analysts fall behind and a stock's ripping like we've seen with all these AI and you know, Sandisk, for example, that goes up, you know, thousands of percent analysts are tripping over themselves to give a higher price target one after the other after the other and the same thing on the way down. Stocks are, stocks keep going down. You know, I think the last one I remember was private equity like the Blue Owl and Blackstone Private credit. You know, everybody was all worried about that. They started, you know, naming and banging and taking all these stocks down. So it's good when, you know, in theory, you know, you got to be honest, when bitcoin's price action has been so negative recently and there's a lot of people calling for lower that you start to see some people poke their heads out and say, ah, you know, I think this could be, this could be a cycle bottom here. There's a lot of evidence that could support that. And we're seeing, you know, it's all Monday morning quarterback, but we're seeing what caused this. I think those are all positive things compared to what happened, you know, last time we were making content in the podcast the last cycle bottom with ftx it was a lot more, not more gray, right? It was a lot, it was a lot more gray because you just didn't, you didn't really know, you didn't really know what was going on there with, with the fraud. So it was, I think it's, it's a lot more interesting to kind of environment and try to parse through it with the data and the technicalities of trying to trade and invest here.
- [27:15]
Dennis
Yeah, I mean you nailed it. And I think this isn't just some Hopium, wherever you were huffing on at the dentist to come out and say this is, this is actual, this is actual, you know, not evidence. This is the actual path of why he thinks we will probably have already touched the bottom and crypto winners over. And those are really big points. Like you said something we've been talking about on the show, the Bitcoin ETF redemptions, the liquidity pressure tied to the SpaceX IPO. I know we talked about it and I assumed it was going to happen, but boy, and we're going to get further into it. That's a real case there. And obviously the macro stress and the geopolitical stress and it was all kind of a perfect storm. It does feel like some analysts are starting to go onto the other side of the boat and it's making me feel a little bit more bullish about where we're headed right now.
- [28:08]
TiVo
Down. Yeah, I agree, I agree. It's always good to see when people kind of stick their head out and start to make calls you don't want to, you know, people aren't going to stick their head out if they truly don't believe in it. Especially in this, you know, kind of eye popping industry, if you will. Polarizing I think is a better word. And Standard Charter doing more. They're not done. UNIS SWAP BRIAN Standard CHARTER INITIATES COVERAGE OF UNIS SWAP I thought this was kind of caught me by surprise out of nowhere calling for a hundred dollar Uniswap. It's trading at 250 today, roughly possibly by 2030, looking at a 40x increase. The thesis is tokenized assets active in DeFi grow through 37x in this decade and Uniswap becomes a core piece of trading infrastructure for traditional finance as trillions of dollars move on chain. Did you read the report here as we pull it up?
- [29:03]
Dennis
I didn't read the full report, but I understand what they're saying here in regards to why Uniswap. I mean when you're talking a 40x Uniswap will become a core piece of this infrastructure and trillions of dollars of traditional finance are going to move on chain and they're citing that Uni Swap is an established player here and a lot of people are going to use it and it's going to grow and it makes a lot of sense if that's the way it's going to break. And not only did Uni Swap benefit from the news, I'm not exactly sure what we are up on Uni Swap, but Aerodrome, which is bases, you know, Dex, which is very popular, is up like 35, 40% on the week as well. So a token that I've always liked and I certainly noticed that because I have some arrow holding. So I, I understand where they're, where they're going with this. What was that 318 now what was it, 215 when that was mentioned? So we'll have to see how that's all going to happen. But certainly tokenized assets in defi are going to grow and some of the biggest beneficiaries out there are certainly going to be Uni Swap are certainly going to be the aerodromes.
- [30:10]
TiVo
Yeah, I think I would. Again, I think it's important for the listeners you got to do your own research here. I wouldn't necessarily call this a screaming buy per se based off of one standard charter report. You got to go do your own research. I have not personally been keeping up with the ins and outs of the Uniswap project, but again, when you zoom out on this chart, I mean brutal year, down 60% obviously the all time chart, you know, never has made it back to that 2021 all time high. Really had trouble breaking out a lot. Obviously Hunter and Brenner can give you a better breakdown technically than I can. So you know, you, maybe you want to put it on your watch list, maybe you want to take, take the risk, but you got to do your own research. And just cause something pops up in a report doesn't mean that, you know, it's, it's all systems go. So I definitely just want to highlight that for the, for the viewers and the listeners. But I thought it was interesting to get a shout out like that. I think again, if we were back in 2021, this thing, this thing would have went up, you know, at least 100% on our report like that, right?
- [31:11]
Dennis
Yeah, certainly. I mean that, that would be in the bull times, I think even in a bull market now when everything's just going up for no reason, getting a report like that would have Fired uni swap up several hundreds of percent. But I, I understand where they're mapping it out. I need to get down and look at the details of that report. So I fully understand it. But just off the cuff, I get what they're saying and I understand how they're mapping out that path, but there's a long way to go. There's a lot of competition out there. We'll see how it all shakes out. But it's great to see that analysts are really starting to call out some of these top performing platforms or protocols out there that are not just, you know, flash in the pan. They're really protocols that will help move us forward in the crypto space.
- [31:58]
TiVo
Yeah. And with everything coming on chain and tokenization, some Coinbase news announcing tokenized US stock, each backed one by one by real shares, automatic dividends and on chain redemption. So again, Coinbase tries to basically become more like Robinhood, if you will, or traditional brokerage that also offers crypto. They're kind of going for the stock portion of it. Where Robinhood kind of started really growing its crypto business. This, this is the future. It's very, it's very interesting. I wonder. I didn't. We'll have to. I just saw this literally today, as you can see the timestamp there, we should do some research on this. Does this open up, you know, stocks the rest of the world? I think that's kind of the idea is like, hey, tokenization can offer all different types of real world assets all over the world, thus giving you a bigger pool of buyers, more liquidity and, you know, rising market caps in theory, over, over the coming years.
- [32:55]
Dennis
Yeah, I mean, this is a major step towards bringing traditional, traditional stocks directly onto blockchains with full ownership and cash flow rights. It's backed by a one to one by real shares. I don't think it's a matter of if this is going to take over traditional finance. I think it's a matter of when it's going to happen. Coinbase is getting involved, which they, they should absolutely be involved here. And we're seeing traditional finance change in front of our eyes right now. And Coinbase is front and center,
- [33:29]
Unknown Advertiser
Leaving
- [33:30]
TiVo
the charge and getting into fights along the way. I've been jabbing with Jamie, crypto diamond, friend of the show. Of course, I've taken a little bit of a break, but I got too emotionally invested. I still have my contracts. I thought we've called this all the right way, especially in the betting markets with the passing of the Clarity Act. But it took a big drawdown at one point. I think it was like 50, 50, maybe even a little below of the Clarity act passing. I took a little bit of a break from it, just every single tweet about it. But let's circle back on it as people are starting to call for July 4th or passed by July 4th for the clarity Act. It's definitely a summer thing. If this doesn't get done before the summer, I think most people agree it won't get done because you go right into to midterms. So any, any new news from your hearing outside of, for the Clarity act
- [34:18]
Dennis
outside of D.C. no, I think that the timeline is tight. We've been talking about that for months now. TiVo. I know in February, I was preaching about how the timelines gonna be so tight going up into midterms and they're dragging their feet. It truly feels like it is about a coin flip to get done or not get done. I, I, I think it's going to get done in 2026, and I think it has to get done before midterms. But, man, they're just, they just want to make us sweat a little bit, you know, July 4th is not far away and it feels like it needs to happen. What's it at? Yeah, it feel it looks like the prediction markets are saying it's about a coin flip and maybe it's the bullish Brian coming out. But I do feel like it's a little bit better than a coin flip that this is going to happen just because there's been so much recent progress there, there's been a lot of support. We still have the Senate, we still have the President talking about it, but right now we're sitting at a 50% chance of this actually happening. And time is certainly tight because what are we, three weeks away? Not even.
- [35:25]
TiVo
Yeah, not, yeah, not for, yeah, Fourth of July, three weeks from this weekend.
- [35:31]
Dennis
Yeah. So we'll see. We're going to certainly get some real clear indication around the 4th of July if this is going to happen and if it doesn't look like it's going to happen, hopefully they give us an idea of what the timeline is going to look like because this needs to happen very soon.
- [35:48]
TiVo
Three weeks from two weeks from this weekend, Fourth of July week, it'll be three weeks from two weeks. So we're two weeks, two weeks out from Fourth of July. So this calendar vote there. But yeah, again, it's a coin toss. I really thought we had the momentum. Obviously, the betting markets, you know, captured that and you Know that vote, I'll be the first one to say, you know, you got to call your wins and call your. Your losses. That, that vote of passing to the Senate, I thought would have carried more momentum for both the markets. For both the markets and, and the Clarity act, obviously, but it seems to. To not have carried over, which is in. Interesting. Again, I'm not in these meetings, so we don't really have any insider info into what's going on behind closed doors in the chamber. But the 50, 50 coin toss will take it. Or as the bulls will say, they're selling a dollar for 51 cents over at Poly Market.
- [36:41]
Dennis
I mean, are we just getting exhausted? This is such a big piece of news in our daily day, and I'm. I'm personally kind of exhausted from the Clarity act, and it means so much to me. I am, like, the biggest fan. I want to happen, but I'm so tired. It's like how I got tired with Iran.
- [36:59]
TiVo
It's such a fair point.
- [37:00]
Brian
I think you could make the case.
- [37:02]
TiVo
We got to keep this crypto specific. You make the case. The entire world is exhausted from this news cycle. The last. This year alone, just, you know, everything from tariffs, I guess. You know, if you go calendar year, it's almost like tariffs and then war and then inflation and then, you know, stocks up, stocks down, and then you go crypto specific. I mean, you think you can make a great case if people are just tired, but that's part. That's part of the strategy.
- [37:28]
Brian
They got to wear you out.
- [37:29]
TiVo
They gotta wear you out.
- [37:31]
Dennis
It's like the dentist. It's like the dentist trying to keep us in the chair, and we're like, oh, no.
- [37:35]
TiVo
Yeah, that.
- [37:36]
Brian
I mean, that was what we said
- [37:37]
TiVo
when the ETS went live. We're like, this. This isn't up. Only, like, there's no shot that it's gonna go straight up. They got.
- [37:43]
Brian
And then right when the ETS went
- [37:44]
TiVo
live, they tried to shake everybody out, and there's always going to be dips. So it's a good time to, to, you know, revisit your research and, and reaffirm if. If you're bullish or if you're not. But, you know, this is part of what you signed up for, for, for investing. And, and there's definitely a psychological game to it. And this. They're doing a great job, for sure. They're wearing. They're wearing and tearing a lot of people down. Because, you know, again, that when you thought that the. The vote was going to the floor, you're like, oh, this is good news. And if anything, it kind of reversed since then. It's like, oh, well, no, it's not. And the price action hasn't followed and there's a war. So yeah, it's been, it's been a lot. I think a lot of people are a little tired and they, they want to see their bags elevate a little bit. So hopefully this is something that we'll keep covering and again, we'll, we'll make a show every week and keep you updated. We'll see what July 4th holds.
- [38:35]
Dennis
But light's always on, baby.
- [38:38]
TiVo
Lights are always on, especially back home. Let's go to SpaceX. I'm going to hand this off to you to tee up because I know this is your, this is your baby. What a coin.
- [38:50]
Brian
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- [40:12]
Unknown Advertiser
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- [40:44]
Dennis
Hey, do you know Elon Musk is worth. Yeah, I know. He became the first trillionaire. I looked it up this morning. He's worth 1.94 trillion with a T dollars. Amazing. Like, to just think, like, I think he owned like 40% of SpaceX. But obviously SpaceX IPO debuted on NASDAQ with a valuation over of like $1.7 trillion. They even bought Cursor. I think that happened today. They bought cursor for like $60 billion. And talk about a guy that's probably having some sleepless nights in jail is Sam Bacon Freedom. Because it feels like he was just a couple months away from all his investments to actually, he would have probably still did really horrible stuff with people's money. So I can't say that he would have been able to patch up what he caused. But, man, a lot of his investments have been turned up rather well. But this SpaceX IPO has absolutely fueled a frenzy that I think a lot of people were somewhat expecting. So initially, it's a really low float. If we're using crypto terms, only about 5% or so, give or take, is available to people who got in on the inside earlier. We're really going to be looking at about three months from now when when unlocks really start happening. We'll probably see some sort of Correction of the SpaceX IPO at that point, or at least you would imagine. But this certainly has been just going up in a straight line. It's brought a ton of action over to hyperliquid. As you can see, it's hyper liquid is a 24,7 market for perps. And they were one of the only ones, or 1, the very first one, where you could get exposure to the SpaceX IPO early on with longing and shorting it from perps. It drove billions of dollars to the platform. They're burning $10 million a day or so in fees. The prices rebounded. Well, so this is the kind of a double whammy here. SpaceX, we got some liquidity that got sucked out of the crypto market and just all markets because people wanted to buy into the SpaceX IPO. And it's obviously done very, very well for people because the IPO, I think, was $135. So now we're seeing some movement. But as you can see, this is Hyper Liquid right here. You can get exposure. We're seeing a lot of long and shorts. What is it? About $1.7 billion in 24 hour volume. And of course, Hyper Liquid's price is going up because there's more action happening on their platform. When the market closes, man, people aren't stopping trading SpaceX, they just are pivoting over to Hyper Liquid. So as a Hyper Liquid bull, where I could spend an entire rundown talking about why I'm bullish on Hyper Liquid, this makes a lot of sense. Obviously this IPO frenzy has caused more eyeballs onto Hyper Liquid. But even just getting involved in this SpaceX IPO has been an absolute cook. So congrats to anybody that got in on it. But I think we'll probably start to see some profit taking sooner than.
- [43:54]
TiVo
Yeah, it was interesting to see how that would start trading. I think, you know, the people that jumped in got it right. I was kind of more, a little bit more cautious. I wasn't gonna buy at the Bell. I said, I was like, hey, if I get assigned some shares, I'll take them. You know, I got assigned, I think it was like 25. So not, not, not too much. And I'll probably, I don't know, it's one of those things you probably never sell. Just see what happens. It'd be cool story to say in 25 years be like, I got 25 shares of SpaceX at IPO and then never sold. See what happens.
- [44:26]
Dennis
But yeah, just sitting here on bags. He's sitting here.
- [44:34]
TiVo
We had a friend who was trading. It did really well. Friend of the show, Joe. I heard he did a good job. So I was more afraid of the. I didn't, you know, I know the lockups kind of got the clouds, the dust kind of settled and it's like, okay, there's 5%, it's a short float. So, you know, there's definitely a lot of people that are taking advantage of that. And yeah, I can, I could definitely see some volatility coming in the future because at the end of the day, this is going to be at least. My broader take on SpaceX is like, hey, it's going to be a trading instrument for a while, which kind of like bitcoin in a way. It's like, hey, when things are going good, people are going to go in. When, when people need to raise cash, they're going to be selling the 100x valued company first, especially if they need to raise some cash. So it's going to be a fun stock, a momentum stock, if you will. Brian, from Momentum Money Makers. So, you know, maybe you guys got to initiate coverage on SpaceX, but always a great call on, on Hyper Liquid, which you guys have always been early on. Let's wrap up the show here with some more. You know, I don't know if you call trading SpaceX on hyper liquid after hours investing or gambling. You take your choice. But something that is pure gambling is the World Cup. Kalshi logged a record 5.1 billion in trading volume in the opening week.
- [45:50]
Unknown Advertiser
Wow.
- [45:50]
TiVo
Lionel Messi promoting the platform. That's going to get a lot of signups. That guy has some of the biggest following in the world. And I think it just shows you. My point about bringing this up is, number one, it's just a fun fact for prediction markets. But number two, it just shows you, like, hey, people want to play. They want to play where the action is and there's lots of money all over the world and it moves from where the excitement is. And the excitement of the World cup is drawing in record trading volumes. And I think this is good for crypto overall because when the excitement comes back to crypto, the money will follow you.
- [46:22]
Dennis
Paul, Gambling, I call predicting the future, my friend. No, it's not financial advice, but the prediction markets have been on fire. The World Cup, I know soccer's huge. And like my little peanut American brain did not realize how big soccer was until did you see that stat? So Spain played, gosh, it was yesterday. A very small country and they were huge underdogs. But the goalie for that other country had an absolute killer game, dude. And somebody was covering it. I hope I get these facts right. But he had like 40,000 Instagram followers as of today. He had 7.8 million. That's how many people. I mean, Tom Brady is like 12 or 15 million people and he's been playing football for 25 years. It was the greatest of all time. And the guy, this goalie who played against Spain, it's just, I'm, I wasn't following it very closely. Had tens of thousands of followers on Instagram and then went to absolute millions. Yeah, this guy, an absolute. Was it 9.5 million? He's just collecting followers off of one game, dude. What? I mean, he had a hell of a game. He was all over the place. And I'm pretty sure it was a tie. I don't even think they won, but he went from 40,000 followers to 9.8 million.
- [47:47]
Unknown Advertiser
Just.
- [47:47]
Dennis
I just never realized. I knew it was big. I just didn't realize it. It was that big. So amazing stories out there for the World cup. Crazy. I mean, 10 million followers closing in. What's it going to be like in a few days as well? It's. It's not obvious. I looked at it just a couple hours ago, was at 7.8 million. So he picked up a cool 2 million people, man, in just. Just in a couple hours, whenever I was looking at it. So I love it. He had some killer saves, too. I was watching the highlights, man. I was about to buy myself a pair of soccer gloves and start Verde
- [48:26]
TiVo
Cobb, the goalie for Cabo Verde.
- [48:30]
Dennis
Cabo Verde. I. I'll be honest, I'm not even exactly sure what that is, man. I'm not sure if I. If I should either.
- [48:37]
TiVo
Cabo Verde is a nation located in the central Atlantic Ocean off the coast of Africa.
- [48:44]
Dennis
But yeah, look at this. It's just like the dots off of, like, off of Africa. So they played Spain, and this was apparently like the LSU. What was it? 2019 or whatever. Joe Burrow. Like, that was like the team. The greatest team ever going up against, like, Appalachian State. Like, this is. This was like something that was like, we weren't expecting to have a close game here. And this guy stood on his head and one game picks up almost 10 million followers. And, you know, it's a good story. That's why I love sports, man. It just can be so entertaining. It brings nations, it brings the world together. You learn a little bit more. And the World cup hasn't. Hasn't been a shortage of fun. It's been a lot of fun so far. I think we got the United States in a couple of days, too.
- [49:35]
TiVo
Hey, we gotta. We gotta get. We gotta get the World Cup. We're gonna win. That's what I always say. Us, we're gonna win.
- [49:41]
Unknown Advertiser
We're
- [49:44]
Dennis
new show goal.
- [49:45]
TiVo
We want. We want somebody on the live someday to be from Cabo Verde.
- [49:49]
Dennis
That's the new goal. Oh, man. We are a worldwide brand and there probably is somebody there, you know, but if you start claiming you're from Cabo Verde, we need a picture of you in front of a sign, you know? No, no. Verbal. Holy whales. Could be like, oh, yeah, I'm the mayor of Cabo Verde. Or something along those lines.
- [50:08]
Brian Armstrong
Lines.
- [50:09]
Dennis
We need to. We need to see it.
- [50:11]
Unknown Advertiser
Yeah.
- [50:11]
TiVo
Well, that's going to wrap us up for today, everybody. Thanks for tuning in.
- [50:13]
Brian
We will be back Friday with Brendan.
- [50:15]
TiVo
We're going to deep dive into the charts to see if the bottom is forming, but that's all today. Thanks for watching and we'll talk to you soon. Bye bye everybody.
- [50:33]
Unknown Advertiser
When I found out I was going to be a parent, I immediately felt a lot of anxiety and worry. So I went on to Better to try to look for a therapist to help me with that.
- [50:43]
My relationship with my family and with my boyfriend and with myself were suffering. I really needed help.
- [50:49]
I was ruminating a lot. Really getting those thoughts out to a therapist and getting feedback was just life changing.
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