Crypto Rundown: Retail Sells as Institutions Buy- What the Data is Showing Us!

Summary

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Crypto 101 – Crypto Rundown: Retail Sells as Institutions Buy — What the Data is Showing Us!

Podcast: Crypto 101
Hosts: Bryce Paul & Brendan Viehman (guest hosts: TiVo & Brian)
Date: November 8, 2025

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Episode Overview

This week, Crypto 101 dives deep into the recent turmoil across asset classes—crypto, stocks, and gold—focusing on why markets are bloody and what’s really happening beneath the surface. The hosts examine key macro trends, highlight the stark contrast between rattled retail investors and bullish institutions, break down wallet and ETF data, and explore what this means for the future. They also cover institutional moves in crypto, privacy coin surges, prediction market trends, and meme correlations (yes, the McRib returns).

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Key Discussion Points & Insights

1. Macro Market Volatility: Panic or Opportunity?

• Unrest Across Assets: Crypto, stocks, gold—all down. The government shutdown and lack of new jobs data have spooked markets ("flying blind in the fog" for the Fed).
  • “Markets as a whole are now kind of getting an upset tummy for how long the government's been closed.” (TiVo, 01:42)
• Retail vs. Institutional Attitude:
  • Retail is panicking—fear and greed index hit 21, bordering “extreme fear”.
  • “Retail's running around like a chicken with their head cut off. But the institutions aren't—they're still bullish. They're still putting out bullish commentary.” (TiVo, 02:56)

2. State of Crypto Values and Sentiment

• Bitcoin & Majors:
  • Bitcoin has dipped, bouncing around the $100K psychological mark (currently ~$102K).
  • Ethereum at ~$3400, Solana at ~$160—hosts see these levels as fundamentally strong.
  • “I believe that we were going to chop for quite some time in a pretty tight range. I didn't really think we were going to dip below 100 grand. Maybe that's the permeable in me.” (Brian, 03:40)
• Advice for the Volatility:
  • Dollar cost average, zoom out, and don’t leverage up. Bitcoin is up 300% since ETF launch (80% annualized).
  • “When there is volatility, there's opportunity as well... nothing's broken. But retail is scared.” (Brian, 03:40)
  • “Even with the pullback, Bitcoin’s up 300% since the ETF 30 months ago.” (TiVo, 09:52)

3. On-Chain Data: Long-Term Holders & Whales

• Whale Sell-Offs:
  • October saw OG whales offload $44B of Bitcoin (~405K BTC), typically selling to institutions via ETFs—this is a redistribution, not a collapse.
  • “These bitcoin whales...they probably didn’t want to sell into a pump before ETFs because there wasn’t enough liquidity... Now, with ETFs, they finally take some major profits.” (Brian, 13:11)
  • ETFs provide “a true built-in floor” at ~$90K per BTC average.
  • Over time, sell pressure should diminish as these whales run out of BTC to sell.
• Market Cycles:
  • Reference to the four-year crypto cycle. This sell-off (akin to the GBTC correction) may be a necessary flush before the next leg up.

4. Institutional Moves and Sentiment

• Bitwise’s Matt Hogan:
  • Institutions remain bullish while retail sentiment is near rock bottom.
  • Quote:

    “It's almost a tale of two markets... retail is just more depressed than I've ever seen it. I think the market is shifting into an institutionally driven market and interestingly that market is still bullish…”
    (Matt Hogan, 20:56)

• Charles Schwab & Old Guard:
  • Schwab clients own 20% of crypto ETPs and traffic to their research site is up 90% YOY.
  • “Our clients are engaged in it. As a group, our clients are...very interested.” (Schwab Exec, 23:17)
• Major Institutional Buys:
  • Cathie Wood’s Ark buying more BitMine (largest ETH treasury company); Tether and Robinhood considering or making BTC buys.
  • “It's hard to put into words how bullish these institutions are.” (TiVo, 25:20)
• Institutions vs. Retail:
  • Institutions look for long-term 2x/3x returns, not quick 20% trades.
  • “Institutions aren’t buying into bitcoin... for a 15 to 20% win... They're looking at this long term, just like we all need to as well.” (Brian, 26:33)

5. Strategic Themes: Nation-State Accumulation & Geopolitics

• Bitcoin 'Arms Race':
  • U.S. and China are both accumulating massive quantities of BTC, leading to theory of a coming “arms race” for scarce BTC supply.
  • Quote:

    “Adversaries of the US will ultimately buy bitcoin...there's gonna be an arms race. As you know, there's only 21 million...”
    (Pantera Capital clip, 30:14)

  • Once governments start announcing holdings, the supply squeeze will be rapid and global.
  • “...people that actually hold a bitcoin... you're gonna be looking at them in awe... It's gonna go so much higher, because there's gonna just be a supply squeeze.” (Brian, 31:17)
• U.S. Political Climate:
  • Crypto’s legislative environment has shifted favorably.
  • Crypto referenced as the U.S.'s "superpower" and AI leadership point by President.
  • Expect further pro-crypto moves closer to the midterm elections.

6. Crypto Product Launches: Solana ETFs, Staking, and More

• Solana ETF Momentum:
  • Continuous inflows (8 days in a row, >$500M into B SOL); demonstrates demand for institutional access, especially with staking rewards.
  • “It's clear investors want Solana exposure that has staking...certain institutions...can't go buy Solana. So when these products start being offered, it opens the door to a lot more money.” (TiVo, 36:35)
  • “There's an appetite for Solana right now. Even in a down market.” (Brian, 37:57)
• Other ETF/Products:
  • Indications of coming staking ETFs for Ethereum.

7. Privacy Coin Mania: ZCash & Beyond

• ZCash Explodes:
  • Top 20 crypto, up to $711, nearly doubling in a week—signals appetite for privacy coins.
  • “ZCash...essentially keeps the sender and receiver anonymous...just absolutely ripping in this down market.” (Brian, 38:23)
  • Regulatory headwinds a concern, but the run is “exhilarating.”
  • “Makes me salty a little bit because I'm not in the trade. But I'm super happy for everyone because it's great.” (Brian, 40:34)

8. Meme Markets, Predictive Fun, and Community Vibes

• Crypto Memes & Sentiment:
  • McRib’s return correlated (humorously) with BTC rallies among the community.
  • “It is one of the strongest correlated aspects of bitcoin going parabolic...when the McRib comes back.” (Brian, 42:00)
• Momentum Alerts & Alpha:
  • Hosts share alpha on newer, undervalued plays (e.g., Avicii, Pump.fun), and reiterate: speculative gains should always roll into core assets.
  • “We do speculative buys every day...but point is to catch big wins and rotate back into the majors.” (Brian, 18:27)
• Prediction Markets Boom:
  • Major companies (Gemini, Google with Kalshi/Polymarket, DraftKings) are entering or leveraging prediction markets for both data and wagering.
  • “Prediction markets are awesome…some of the most accurate data we absolutely have.” (Brian, 54:47)
  • Government shutdown and Fed decision odds highlighted (>60% chance shutdown extends past Nov 16th).
  • “...it's going to take care of itself sooner rather than later.” (Brian, 56:42)

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Notable Quotes & Memorable Moments

• On Market Fear:
  “Retail is scared... my text messages blow up whenever we take nasty dips like this…just sit on your hands and dollar cost average in because overall things feel okay.” (Brian, 03:40)
• On Whales Selling to Institutions:
  “These OG whales...eventually run out of bitcoin to sell. And once that happens, there's going to be way less sell pressure.” (Brian, 13:11)
• Matt Hogan of Bitwise:
  “Crypto retail is in max desperation...I think the market is shifting into an institutionally driven market and interestingly that market is still bullish... I'm optimistic that we rally into the end of the year and into 2026.” (Matt Hogan, 20:56)
• Pantera Capital on Nation-States:
  “If a bunch of people all want to buy a million [Bitcoin] each, it's not enough to go around.” (Pantera clip, 30:14)
• On Persevering Through Volatility:
  “Whenever I get these text messages... I'm like, listen, not financial advice, boys, but bitcoin is absolutely on sale now. You're going to be looking at this a year, two years down the line...” (Brian, 26:23)
• McRib/BTC Correlation:
  “We need the McRib back because it is one of the strongest correlated aspects of bitcoin going parabolic.” (Brian, 42:00)
• On Staying Long-Term:
  “We're going to keep doing this for years...because it's truly what we love to do...even when it's red.” (TiVo, 62:45)

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Timestamps for Key Segments

• Macro Market View & Opening – 00:00 – 03:40
• Crypto Fear & Greed Index, Current Prices – 03:40 – 06:10
• Long-Term Focus and Zooming Out – 09:52 – 13:11
• Whale Selling Data – 13:11 – 15:32
• GBTC Sell-off & Leverage Risks – 15:32 – 18:27
• Institutional Sentiment (Matt Hogan Bitwise, Schwab, Ark) – 20:56 – 25:20
• US-China-Global Arms Race Clip (Pantera Capital) – 30:14 – 31:17
• Solana ETF & Staking Product Inflows – 36:09 – 37:57
• Privacy Coins Surge (Zcash) – 38:07 – 41:17
• Meme Markets & McRib Correlation – 42:00 – 42:38
• Momentum Money Makers, Recent Plays – 43:04 – 44:38
• Prediction Markets Deep Dive – 54:47 – 57:36
• Community Questions & Wrap-up – 57:37 – End (62:45)

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Conclusion

Despite sharp volatility, the fundamental story for crypto remains intact—and perhaps more bullish than ever. Retail is shaken, but institutional flows and enthusiasm signal strong price support and future growth. Whales are redistributing, not abandoning ship. The next stage may see nation-states bidding for an increasingly scarce Bitcoin supply. For listeners: zoom out, avoid leverage panic, and watch for continued institutional and product innovation—even in the face of macro headwinds and meme market madness.

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For more actionable insights and first-mover alerts, join the Crypto 101 Momentum Money Makers community (links in episode description).

Transcript

[A]

Foreign, everybody. Welcome back to the Crypto 101 podcast presented by Gemini, your bridge to the future of money. And if you're here, you're wondering, why is crypto down? Why are stocks down? Why is gold down? Is the world falling flat on its face? Why are all of our assets down? We thought it was October. It wasn't. Now we're going for this Q4 rally. You're wondering if it's going to happen. Well, you're in the right place. We are going to break it all down for you as we do every single week. My name is TiVo. Thank you for joining us on a Friday afternoon. I'm also joined by Brian. Brian, welcome. We're wearing all black. You think we might be going to your funeral, but I know that's not the way that we think in these markets. We have a huge sheet to run down with everybody today. A lot of opinions, a lot of educational stuff, and then just to keep the lawyers happy when the markets are volatile like it is today. We're not your financial advisors. This is not personal financial advice. But we do have some thoughts and we do have some research and we've gathered all the media we can for you today, and we're going to run everything down from stocks to crypto to the AI trade to the meme coins. We got it all for you today. Brian, welcome. Excited to do this with you today, even though it's been a bloody week in the streets.

[B]

Yeah, been a little bloody. I wore black just because I want to feel slim today, not because we're going to a funeral, but we're, we're going to certainly have our own fair share of opinions on what, what's going on. And we're getting. That's what, that's what people come here for, man. With the permeables. We look on the bright side of things, and we definitely have some bright things. We got some dark side of the talk, but overall, just fired up to be here with you on this Friday.

[A]

Yeah, I think, yeah, we are, we are the perma bulls here. And again, it's the. I do have a zoom out. We say that all the time in the show. We do have a link for that, but we can, we can kind of just start off with the macro points. And so I think that the markets as a whole are now kind of getting an upset tummy for how long the government's been closed. And I don't know if you remember this, but we're going to talk about Poly Market into the show. I Remember I threw out the 30 plus day government shutdown bet. I just thought it would be a little bit more aggressive than it was, a little bit more of, you know, good odds on that. But I also thought it was a little bit of like a hedge, right? Like, hey, if the government shutdown does last this long, the markets aren't going to like it at some point. And those first two weeks it seemed like nobody cared. Now they're cutting flights, you know, now we're not getting jobs data for a month straight. And so that kind of quote unquote, flying blind in the far, flying in the fog, they can't see where they're going for the Fed. What's going on with the jobs numbers? Is the economy healthy? You know, I think the markets are starting to shake their fist over at the government and be like, hey, you got to get this figured out, you know, Democrat or Republican, like, hey, we're all working here. Like let's, let's get this thing back open. So I think that has something to do with it. Another big macro thing that we could start off with is the AI short trade. It was what it was the who's the famous guy from Michael Burry, from the Big Short put on like a big short on Palantir and Nvidia. So that got people upset. There's just, and again we are at all time highs. So it's like there's, there's a lot of stuff brewing in the markets. But crypto specifically from the macro thing, what we're seeing is like, hey, retail's running around like a chicken with their head cut off. But the institutions aren't, the institutions are still bullish, they're still putting out bullish commentary and we have a ton of that to bring to you today along with our own thoughts. So I guess we can, we'll jump into coin market cap. Brian, I'm going to bring that up on the screen and kind of hand it over to you as we, we take a look at the Fear and greed index dipping into fear and probably towards extreme fear at this point. But what are you seeing?

[B]

Dang, we're at a 21 right now. I, I was expecting a little bit extreme fear because I think it was earlier today or maybe over the night, I think we dipped under $100,000. And as everyone knows that's such a key psychological number for myself included. I want to see Bitcoin above 100 grand. I don't think fund. I know fundamentally nothing is broken with Bitcoin, with Ethereum, with Solana, we could. We're going to map out a ton of reasons why we're as bullish as ever. But right now, bitcoin sitting right around 102 actually feels okay because just an hour or two ago we were right around 100. So it does feel like we keep bouncing off that hundred mark. Ethereum close to 3400. Solana right around 160. We've been trending around this area for some time. And if you watch the rundown, if you're part of our community, I've been pretty vocal that I believe that we were going to chop for quite some time in a pretty tight range. I didn't really think we were going to dip below 100 grand. Maybe that's the permeable in me not believing that. But it doesn't feel as extreme fear as, you know, crypto, Crypto Twitter, the timeline is we're looking at a pretty strong overall crypto market. When we talk about the administration, we talk about ETFs. Of course, nobody likes volatility. I say, like in the present moment. I don't like volatility in the present moment either. I don't like to see us go up to 126, down to 100. It doesn't make me feel good. But really, when there is volatility, there's opportunity as well. And like I've been preaching is that the bull thesis is still intact for digital assets. Crypto, the United States becoming a crypto capital of the world. This is all real thoughts in what people are pushing out there. And fundamentally nothing's broken. But retail is scared. My text messages blow up whenever we take nasty dips like this. And I don't have a lot to say other than like, hey, just sit on your hands and dollar cost average in because overall things feel okay. Even if we had another 5, 10% downward movement, I still feel okay about where we are. And like you said, TiVo and I think you and Brendan, I watched your show on Monday. Everyone's got to check that out as well that you were saying zoom out, zoom out. And I think that's great advice.

[A]

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[A]

Yeah, again, Brendan. I talked to Brendan on the phone this morning. He, he wanted to give the listeners just a hello and say that, you know, we were talking about this on Monday, technical analysis wise, you know, hundreds huge, not just only technically, but psychologically. And then if that does break, you know, it's going to be an elevator down to, you know, that 90, 90 to 94 level is going to be that next level of support. And then you can see down here we have the tariff lows which you know, if it broke that, that would terrify everybody. But that's down in the 80s. But again for technically, like as Brendan says, you know, if you take the fundamentals and your, your personal thoughts out of it, like some technical, the technicians of the world could say like hey, you could, especially on a one year chart, you could test any of this at any time depending on what's happening in the macro and the thesis towards bitcoin. So again, not saying that that's going to happen but that's why we have such a, you know, diverse team between Brendan, Brian, Joe, Bryce, Rohit, like we kind of try to give you guys all the angles we can and then again we have our own opinions and we hope, we want to educate you and help you with Yours, but, you know, yeah, I got the same text this week. I was out at Trivia night with the boys on Wednesday. I got, you know, Tampa Terrence asking me what's going on with bitcoin. Grant, friend of the show, he's in the chat right now. He's asking me what, you know, when's this pudgy penguin, when's it going to fly? So we're getting, we're getting the. We show up. I think that's credit to us is like, hey, we do two, three shows a week. So, yes, when the volatility is high, you know, I don't think any of us have ever sat here and made, you know, certain predictions, especially in short time frames. But again, it's, it's the zoom out. I have a whole zoom out. Let's just hit that now and then we can go over the long term holder thing. But here I'm going to share this. So it's like, let's get some perspective because I know we've been doing this show for a long time. It's like, hey, even with the pullback that we're in right now, Today, Bitcoin's up 300% since the ETF 30 months ago. That's 80% annualized returns. And so what I think the problem is is a lot of people, you know, they go chasing, you know, whether it's the leverage. And we learned about this huge leverage wipeout. It was the largest in history for crypto, not just two, three weeks ago. So, so again, there's bodies going to be floating to the surface that needs to get worked through the system. But you know, if you're a long term holder and you're not playing around with leverage and you have the right allocation to bitcoin, you know, I don't know. Again, I hate, I hate turning on the charts and seeing red as well. But again, I just hit that one year or three year chart and I'm like, oh man, you know, really, really, really been crushing it. So I think we all need to zoom out. But let's, let's talk about this was in the chat on Monday as well. You were in the chat and we were talking about the long term holders. So again, the macro risk is all just for anybody that's coming in late. We're talking about risk assets being sold off. Bitcoins obviously leads the way with that. And then you saw the stock market follow. We've got the government shutdown, we've got the tariffs in the supreme Courts. We're also Seeing some whales selling some bitcoin, basically just saying hey, I got a, you know what, 50 100x,000x, it's like it's time to sell some. So Brian, what, what kind of data were you seeing around that? Because I thought that was really interesting to see. These giant whales basically you're selling to the institutions at this point. It's, it's a, it's a unique event.

[B]

That's who they needed to sell to. To be completely honest with you, these bitcoin whales that were buying bitcoin at like let's say $100 a pop, they have more money than we could ever even dream. And they, they probably most of them I could imagine didn't really want to sell into a pump early on before ETFs because there wasn't enough liquidity. They would absolutely crater the crater. I think long term holders I read was about $44 billion, around 405,000 bitcoin in the month of October. So there's certainly some huge whale holders that are selling into these ETFs obviously, but they needed to wait around for the ETFs to come about to actually sell their bags. And then there's the whole thesis behind the four year cycle. And a lot of these OG whales really, really believe in the four year cycle. So with that, with the ability and the liquidity of these ETFs to actually finally take some major profits, it doesn't surprise me in something with the ETFs I think I saw trending in. Correct. If I'm a little off, I apologize. But I think the break even price for a lot of the ETF buys are like 89,600. So we're sitting right around $100,000. So you know, it's a pretty tight gap there with the average buy in on these ETFs were right around 90,000 bucks. It almost feels like that is a true built in floo. I personally don't think we're going to go down that low. But never say never. I really love the setup here for bitcoin. And in terms of these OG whales selling, I'm overall bullish on it because they're redistributing their funds. They're pushing this bitcoin out to the masses, to more retail, to more institutions. At the end of the day we have less holders that have millions and billions of dollars of bitcoin finally taking some profit, distributing it around, around to different wallets and different holders across the world. And they're going to eventually run out of bitcoin to sell. And once that happens, there's going to be way less sell, sell pressure. So the month of October, $44 billion from OG wallets were sold in bitcoin. And I believe we only had about $4 billion in ETFs. So that, that's a pretty big spread and they can't do that every month. That's going to dry up and I think we're going to be off to the races again.

[A]

It reminds me of, it reminds me of the GBTC sell off because if we remember when the ETFs went live, obviously there were a ton of people that were in the GBTC and their fee was the highest and their thesis was, hey, we have all these people locked up, they're not going to want to sell because then you got to do the capital gain. So they had this kind of, compared to all the other ones that came in really low, obviously like bitwise and others that were like the lowest. There was a pretty big delta there if you had a lot of, you know, bitcoin in, in this vehicle. So I think just in general it was a good liquidity event like you just said for that is like, you know, people are selling their GBTC and we're, we would look up the, I forget exactly what was a coin mark cap or there's that ETF website. We're seeing the flows and it was like all these flows were green, green, green, green, you know, blackrock green, bitwise green, art green, all these, all these green inflows for the ETFs and then there's just this huge red wick for GBTC and, and it took, you know, it took months I think for it to go eventually stop selling and go back to green. But could be similar here for the whales. Again it's. And when you bring up the ETF, it's a great stat that it's up 300%. But let's not forget when the ETF went live, similar to this GBTC sell off, the ETF goes live. It was like a sell the news event. There was a pretty, pretty solid little correction there for bitcoin. And kind of we were all sitting here on the show being like, yeah, this doesn't, this doesn't make sense to us. But again, price action, you know, can stay more crazy than you could stay liquid sometimes. And that's why you need to be, be careful and you know, have your risk management and be careful of the leverage. And I found this meme, I tweeted it out. Sometimes memes just kind of, you know, you need, you need memes in this world. As a former meme Navy Seal myself, I think it was. Let me go share this tab. So it was basically this is how 80% of crypto Twitter. Why does everybody feel miserable? And it's because this little top right of the pie is people who, who are winning on crypto right now. There's the bitcoiners. Bitcoin heavy. They're up, you know, 300. Like we said, people that caught the soul trade, you know, Seoul was trading at like, you know, $10 below at one point during the last bear market. We got the meme, we got the people in the trenches like Brian, if you're in the momentum money makers group. And as always, I got the link down in the description if you're interested in doing that, you know, you get the first alert for all these memes. It was, you know, 20th, November 23rd through March. And then again last year at this time we were having a great meme season and then some people smaller that got the hyper liquid and then there's everybody else. So again it's, it's not an easy market. It's not meant to be easy. If it was easy, everybody would do it. Everybody would win at a huge level. That's why again we preach, especially for our community is like, hey, we got to have some long term plays here. And you know, bitcoin's always been a big part of that. But any thoughts on this one, Brian? I thought this was pretty funny. I mean, that's funny, but it's true. It's like funny because it's really true.

[B]

Yeah, that's pretty accurate. I mean we preach, you know, I'm part of momentum moneymakers and we do some very speculative buys every day. But the whole point is, is to catch some big wins and rotate it back into the majors, into the bitcoins, Ethereums and Solanas. Because honestly that's where the majority of everyone's portfolio, not financial advice, that's where the majority of everyone's portfolio should be in. I really love the setup for bitcoin right now. I feel like the risk to reward here, buying some bitcoin is absolutely massive because even if we take another 10% down, which I don't think it's going to happen because we seem to be bouncing off of that 100k mark pretty strong. But even if we went to those channels like 92k, I think a lot of people are saying doesn't feel all that bad. But in my personal opinion, with 401k allocations, financial advisors talking about bitcoin and crypto every single day with people, the current administration will go on and on. I feel like the risk to reward to just stack in bitcoin right now feels like a great play, something I'm personally doing.

[A]

Yeah. And again, long term view versus short term sell off. It's kind of you got to decide what camp you're in and it's, you know, plan your trade and trade your plan, as Bryce always says. So you gotta decide where you are. And I know a lot of us, you know, we talk about different moves we're making, but we have a long term account that, you know, we just don't touch. You know, I'm speaking for myself personally. And then I have, yeah, I have my options accounts, I have my all coin account. And like, you got to figure out exactly how, you know, you want to do your risk management. But institutions, you know, again, retail, great transition they're talking about. Institutions are bullish than ever. Because yes, retail is scared. You can see it on the fear, greed, you see it on the price index. But again, I kind of agree with you. We're getting to that level where it's like, all right, if you're not, if you're not selling after a 20, 30% dip, like, well, what's changed with the fundamentals of bitcoin? So why would I sell it at any point after this? Because if I'm riding the dip, I'm either buying or I'm just holding. Unless the fundamentals change of the story, which again, we haven't seen yet. You know, I'm not, I'm not too worried about it. Like you said, I'm trying to stack some more. But let's list, let's hear from these institutions. We know the retail is scared. There's blood in the streets. Warren Buffett always says buy, buy when there's blood in the streets. But let's listen to some institutions. I actually have a clip from Matt Hogan here. Matt Hogan talking about exactly this, institutions being bullish. So let's check that out.

[D]

What do you attribute the sell off to and what's your outlook for the rest of the year? It's really interesting time in the market because it's almost a tale of two markets. Crypto retail is in max desperation. We've seen leverage blowouts, we've seen issues with faults, we've seen issues with yield protocols. And the market for sort of crypto native retail is just more depressed than I've ever seen it. I think that market is close to a bottom. It's hard to find a crypto native investor who still has much enthusiasm for the market. I think the market is shifting into an institutionally driven market and interestingly that market is still bullish. When I go out and speak to institutions or financial advisors, they're still excited to allocate to an asset class that if you pan back and look over the course of a year is still delivering very strong returns. My view of the market is we have to get through this retail flush out, we have to hit bottom. From a sentiment perspective. I think we're very close to that. And then I'm optimistic that we rally into the end of the year and into 2026 as the institutional investors who are more, maybe even keeled about what's going on at a fundamental level in crypto start to drive the market forward. So I'm optimistic. But we do have to finish this washout of retail sentiment and again, I think we're closer to the end of that than the beginning. But there, you know, there always could be a little bit more downside.

[A]

So that's friend of the program Matt Hogan, basically talking about exactly what we are retail scaled, they're getting flushed out. Institutions are bullish. Just confirmed this week, again, a true friend of the program, Matt Hogan just scheduled him for two weeks. He was going to come on the program in two weeks with Bryce and Brendan. We're going to get a great interview for that and obviously bring it to you guys. But we love the Bitwise team. I have some information around their soul ETF once we hit that on the rundown. So more from Bitwise in a little bit. But before we hit that, let's jump over to Charles Schwab again, another kind of old guard of the finance. You know, your Goldman Sachs, your Charles Schwab's, your JP Morgan's. I think Charles Schwab and Franklin Templeton were really one of the, you know, the early adopters of the crypto bitcoin thing. But they're, you know, they're rolling out products. Let's hear from them as well. Institutions, folks, institutions are bullish.

[F]

Well, we're having a lot of success in the crypto space. Our clients are engaged in it today. If you look at the exchange traded products that are crypto related, our clients actually own 20% of them. And our clients are coming to our research site 90% more than they were last year. So as a group, our clients are engaged in it. Very interested in it. And for most people they're not actually going onto the blockchain to spend or use Bitcoin or other cryptocurrencies. And so for them the exchange traded product is, is a safe and comfortable way for them to invest.

[B]

And we're just going to have more.

[A]

And more exchange traded products. As you see, like I mentioned, the sole ETF and there's many more kind of in the pipeline. But again the institution bullishness rose on rolls on Cathie Wood buying more Bit Mine. Bit Mine buys more Ethereum this week on the dip. Obviously that's Tom Lee's Ethereum treasury company and now Ark buying more of Bit mine. They're the $20246 million bet, the largest ETH treasury company in the world. They own over six and a half million shares. So that's again there's, there was a lot more on the timeline as well. We only have a certain amount of time that we can be on the show here with everybody today. But Brian, what's your, what's your thoughts? Anything from Bitwise to Schwab to Ark. Let us hear it.

[B]

Yeah, I mean institutions are buying and retail's scared and that's, that's the time for, that's the time for us to kind of really reflect on what our goals here are at the end of the day and if we're true believers in this technology and the utilization and there's just so many reasons to be bullish about this. I mean we haven't even gotten into the stuff staking ETFs with Ethereum. I love this BMNR play. I am a holder of it. So full disclosure there but Cathie Wood's obviously a permeable as well. So shout out. But I love the aggressiveness here because I think once the staking ETFs come about and once we finally stabilize and start rebounding, this is going to look like a really smart move.

[A]

Yeah, BMNR bull over here as well. Full disclosure, but know we got Tether buying more bitcoin. Let's throw up this one. I'm kind of jumping around the sheet on us. But we got Robin Hood considering putting, you know, some bitcoin on their balance sheet. They saw Coinbase do that little press run last week after their earnings. We covered that on the show last week. Coinbase buying more Bitcoin, buying some Ethereum for their balance sheet. Robin Hood now considering it. So again it it. I don't know man. It's hard, it's hard to Put into, I guess words how bullish these institutions are. Again, all this legislation that's going on, all this stuff with the SEC and crypto and it's been such a huge 180 from what it was with the previous administration. You know, these big, these big firms, they don't build these products and start talking about this stuff to just ditch it, you know, three months later. Right. This is a long term play for them. And again, while the volatility can get some people in trouble, especially if you're not doing right with your leverage and risk management.

[C]

Yeah.

[A]

I don't know, this just feels like a speed bump on the road here, but I think let's. So we go kind of talking a little. No good. Go ahead.

[B]

It's a great call out. TiVo. These institutions aren't buying into bitcoin and all these digital assets for a 15 to 20% win. You know, there's plenty of avenues for them to find a ton of wins out there. They're looking at this long term, just like we all need to as well. And retail is extremely reactionary. That's something in institutions. That's why we call it smart money. At the end of the day, retail's so reactionary. We need to kind of take a seat back, just realize what our end goals are. I feel like whenever I get these text messages from friends and they're like, hey, what's going on with crypto? I'm like, listen, not financial advice, boys. But bitcoin is absolutely on sale now. You're going to be looking at this a year, two years down the line when we're on the golf course and be like, dang, like there was a huge opportunity there. Remember when bitcoin was just chugging along at 100 grand? That's how back in the day, whenever I was in bitcoin, whenever we couldn't break 10,000, we got up to 14,000. Then we went back to 7,000, it happened to 20,000 and it felt like that was just like such major moves. I was so depressed whenever we dipped down under 20,000 again. Looking back on that, could you imagine having that opportunity going back in time, tapping yourself on the shoulder and just be like, hey, literally sell everything you have and buy Bitcoin at 20 grand.

[A]

Yeah, no, as we were pounding the table at Thanksgiving. That was when I first started the company. But you know, our first started here at, at crypto 101 during the FTX crash. What a time to join. But we built, we built back better the show and the Crypto industry as a whole. But I think I agree with you and I think there's been a lot of this, you know, kind of the arms race, like, what's going to happen with the governments. I think obviously the Trump announced the China deal. I kind of had a funny tweet on that. It was like, hey, inflation's down. The China. You know, the China deals made in the markets go. You know, the markets wipe out. So obviously there's some macro stuff that they, the markets have not liked. But there could be this, there could be this, like, arms race is kind of the theory. I know you have a clip from Pantera Capital that we'll go to, but let's look at this. So, you know, the United States is the number one holder, China is the second holder, and it's a pretty large gap from, you know, one, two, basically a tie there, and then a big drop to three. So it's an interesting thing to watch here. And it's like, okay, you know, if these governments especially, especially China. I mean, the China thing's really interesting because we would cover on the show, you know, two years ago that every, you know, three years ago, whatever, it was banned. It's like, bitcoin's banned? No, mining, Bitcoin's bad. And, you know, they were kind of even during that probably, you know, confiscating and quote, unquote, stacking via confiscation. And, and now you got to wonder, like, if they're buying. I mean, they're definitely not going to tell, right? So you got to wonder what they're doing under the table. It's like a little bit of a poker game. Welcome to bitcoin poker, everybody here. I got my poker glasses on. We can throw it on. For this segment, we got a little bitcoin poker going between the United States and China. And we, we said the same thing. It's like, is the United States gonna tell everybody if they're going to start buying bitcoin? I think eventually they would come out and say it, but it would probably be after, after a big gain, right? Like, you know, the, this administration especially, they're not going to come out and say, like, oh, we bought it at, you know, 110 and now it's 115. They're gonna wait until it's 210. Then I'd be like, yeah, we bought it at, you know, 90 type of thing. So I think that's something to look out for. You brought us a clip from Pantera Capital. So let me, let me Tee that up and then we'll, we'll get your reaction for that after, after it plays.

[G]

Adversaries of the US will ultimately buy bitcoin and potentially other coins. But I would say at least start with bitcoin. And so I think, I think there's gonna be an arms race, right? And there'll be like Dr. Strangelove strategic mineshaft gap, right. Like it's going to be a real race. And as you know, there's only 21 million. And if a bunch of people all want to buy a million each, it's not enough to go around.

[B]

Right.

[G]

And there again that's why I'm so bullish because there's just not enough bitcoins to satisfy countries desires. I think the US has 200,000 bitcoins just, you know, from confiscations, kind of a random.

[A]

China has roughly the same, I think.

[B]

Yeah.

[G]

And China has roughly the same. I have, I mean no problem seeing them wanting to buy a million bitcoins, you know.

[F]

Yeah.

[G]

I mean it's still tiny compared to their balance sheets, budgets, all that stuff. And so if you, you have 2, 3, 4, like say the GC wants to buy a million, China wants to buy a million, maybe Russia wants to buy some US like it's going to squeeze up like a watermelon seed.

[B]

Man. I say that all the time. TiVo that. It's between countries and companies and millionaires and billionaires. We're going to be looking back in one Bitcoin feels out priced for the normal person at 100 grand. But we're going to be looking back and you're going to be looking at people that actually hold a bitcoin and just be like in awe of what they were able to accomplish and how they got that bitcoin. And right now 100 grand, it kind of feels like that way, but it's going to go so much higher because there's going to just be a supply squeeze. And I do personally believe it's going to happen quickly. Once it starts happening, people start to get wind of it. It's not just gonna be the United States and China, it's gonna be Germany, Argentina, Ireland. It's gonna be everybody flocking. And you know, that's, that's when we're riding in your yacht, wearing poker glasses, having fun. Dude.

[A]

The tough, tough you threw Germany on there is the third one. I don't know, they sold others. That, that's always going to be a fun meme to like go back and look at when Germany sold I think it was around like 50k. They, they just the absolute bottom tick for, for Germany. Shout out to them. And then kind of just one final point on this. I'll share. You know, again, politics aside, this is the President, United States, talking about bitcoin and what could be this, you know, again, when we're talking about an arms race, you know, are we participating? Who knows? United States, the bitcoin superpower, the crypto capital of the world, and the undisputed leader in artificial intelligence.

[B]

We're leading China by a lie. Yeah.

[A]

So again, that's, you know, he likes to parade all that stuff around, but it's hard to, it's hard to take the other side of anything that is, is paraded as a, as a huge, you know, talking point slash victory for this administration after year one. You see what they did. I don't, I can't. I don't think. You were on the show. I kind of told Brendan. I was like, I thought it was an interesting pause point where, you know, they got into the office. There was a lot of stuff that went really, really fast. You know, the bitcoin etf, the, the, you know, the crypto reserve. Obviously the SEC has been working time with the crypto czar, David Sachs, but they gave us a lot. And then now I feel like they're gonna kind of put us on the back burner for a little bit and then they're gonna wait until next year. So a year from now there's a, you know, the, the midterm cycle is huge for the House and the Senate, and that's. And again, even crypto's bipartisan, but I think they kind of put the crypto bros maybe a little bit in the backseat until they, they want or need their votes again.

[B]

Yeah, that makes, that makes a lot of sense. Never would I have imagined that. I just hang on every word that comes out of, you know, the U.S. government in their stance on a certain subject. I never thought I'd be that guy, but I, I certainly am now. Yeah.

[A]

And one final thing on the administration and the macro, here's a thought, and it's a little bit of a thought exercise. It's like, okay, you know, this shutdown's gone on long enough. Can. Can headwinds eventually turn into tailwinds? Whether it's, you know, not having the data, the government shutdown, or canceling flights, you know, I, Is it time? Eventually it has to end. Everybody agrees on that. But Trump's an old school guy and you don't want everybody going to their Thanksgiving table talking about the government shutdown. And so I really think here in the next two weeks, you know, I, I, I, I personally think and I might be looking to get some odds on this for bet for poly market. My 30 day thing came true, which is great. Cash that out for some good money. But yeah, this thing's going to get resolved in the next, you know, week or two because there's no way that this old school guy, he loves, he loves, you know, his, you know, the holidays and, you know, making a big deal and press conferences. Like, he doesn't want everybody sitting down at the Thanksgiving table talking about the government shutdown, talking about how they couldn't get their flights to go see their family. So I think this gets done sooner rather than later. Huge shout out to the chat. It's going ballistic. We've got Josh, we've got Des, we got Deborah, we got Fitz, Cje, we got Grant, Ryan, and then Ryan Boylan with an absolute, you know, double super chat. What a legend. Thank you so much, Ryan. We always appreciate you having you here. Let's go, let's keep moving on here. What do we want to talk about? Soul ETFs. So here, here's something that I personally love tracking because we talked about earlier in the show when the Bitcoin ETFs came and we had a little bit of a sell off, the Ethereum ETFs came, nothing really happened. And then again, if you zoom out, obviously bitcoin, we showed you that early, you know, since it came live, 300 Ethereum, a little bit more. Kind of depends on your timeline there, I think. But if you bought that tariff dip as, as Tom Lee's been kind of leading here, you can catch a good narrative. And I feel like Seoul had it a year ago into January where it hit its yearly high and then hasn't come back. And now these, I don't know, dare I say quietly, Brian, these Solana ETFs are going live.

[B]

Yeah, I mean, there's, there's too much FUD elsewhere right now and Solana's just chugging along. ETFs are starting to open up. We're starting to see some nice inflow streaks. I'm a big fan of Solana. I think these ETFs are going to really help stabilize the price overall like it did, and move the price in a really forward manner. You know, bullish on solana. And these ETFs are just another reason to be bullish on this entire sector.

[A]

Yeah. And let's again from our friends at Bitwise. I teased it but we have. This is fresh data. So 30 was that 30 million of inflows into B sold just yesterday. Inflows every day for the last eight days since its launch and that includes down day. So that's, that's, that's what's interesting. So it's that divergence of. You're seeing Solana price go down. But for this again this is one product, B Soul. But the inflows for B SOL are up over 500 million in total. It's clear investors want Solana exposure that has staking. So again, if you're interested in a Solana etf, let's see. I think we've talked about this on the show and I'm sure Matt Hogan is going to talk about it when he joins us. But trying to get like a 7% staking reward, 0% fees for a limited time asterisk there. So yeah, you gotta do your own research if that's what you want or you just want to buy your own salon and stake. It's so many options. But again there's certain. The reason why I think, you know we're bullish on this perma bulls as. As we like to say is like hey, there's certain institutions and certain money managers. They can't go buy Solana. It's not in their rule book. So when these products start are being offered it, you know, again it might take time. They might not be able to buy them on day one. They might have to wait a month, two months or three to see how the product trades. But it opens the door to a lot more, you know, a lot more money.

[B]

Yeah, for sure, for sure. And it. There's, there's gonna be a lot more ETFs coming about and you can tell that there's an appetite for Solana right now. Even in a down market.

[A]

Yeah, but even in a down market this is gonna be our visions of hope. There's still, there's still stuff to be traded. Let's see what do we got here? Coingecko data. This was brought you for privacy coins. Brian, what are you seeing in that privacy coin market?

[B]

Yeah, I, I think, I think I put that on here just to really talk a lot about privacy coins of all this is a few days ago they've been kind of going parabolic on us. And let's bring up zcash. I might have linked an article or we could even look at the freaking Zcash chart breaks a 20 top 20 crypto list and hits $600. I'm looking at it on coin market cap right now. It's $711. It is an absolute beast. In the last week, it's up almost 100%. I remember during last week's newsletter, I did. I wanted to touch base with our community because we had some great people within our community asking about Zcash. And Zcash has been around forever, like 2015, 2016, if anybody's curious. It's a privacy coin. It essentially keeps the sender and the receiver anonymous on the blockchain. And we've had, like, certain agencies go after Moreno, but zcash is just absolutely ripping in this down market. So you can see there's an appetite for these privacy coins. Last week in the newsletter, I think we're like 360 or something along those lines. I was telling the community. I was like, man, it's up 200% on the past couple weeks. I don't know how much more it has to go. I. I was like, I'd love to see a pullback before I bought in. And I watched it every, every day just continue to grind, grind up. And it makes me salty a little bit because I'm not in the trade. But I'm super happy for everyone because it's great. There's some people really capitalizing on this zcash trade, and I'm waiting for a pullback. I'm just sitting here saying, like, there has to be a pullback. Nothing goes up in a straight line. But this feels like this is about as close as it can get to something just absolutely V shaping up into a straight line. I would be looking at a short with any chart that looks like this, but I'm too scared. I'm too scared. I'm just.

[A]

You're basically right, right here, back to. It's like 2018. I mean, obviously that when it launched there and then. But you're. You're looking at that 2018 high right about here.

[B]

So I still have a Zcash on one of my Trezors, just one, I believe, from like 2018. So I'm back to break even, baby. But it's wild to see this develop. But I think the story to take from this is, like, there's an appetite here for privacy coins. I think it makes a lot of sense now. I've always worried about overall regulation and if someone's going to slap their hands from a government standpoint with these privacy coins. But the charts just up into the right and it's Exhilarating. Shout out to anybody that's in this trade. I'm waiting to get in. I can't buy it here. I mean, it's up 400.

[A]

No, yeah, totally. But, yeah, we love. We love when people win. So, yeah, shout out to zcash. But another beacon of hope. There's absolutely. You called this on the pod last time we had you. We're just like, you know, the market's a little choppy. We're a little worried here. All we really need is for the McRib to come back, because when the McRib comes back, Bitcoin flies. And then we had. We've just had some friends out on X. Friends of the program here. Let's give him a shout out. The Gary Oak. Everybody's tagging. Gary Oaks all over it. Tagging us. It's happening. Bitcoin explosion. You were in on it. Is this confirmed? I haven't. I think people are like. I think people are guessing. Maybe there's a leak here. 11:19, the McRibs coming back. Is this confirmed?

[B]

This is as much confirmation as we get, but that's what we do in this world. That seems confirmed to me. Who? There was actually somebody in the chat. Chat. I forget who it was. I need to go back. Shout out to whoever that is. If you're in the chat now, please call yourself out. He's like, all we need is the MCRIB to come back. And I just literally laughed out loud. I had to mute myself because I was like, we need the McRib back because it is one of the strongest correlated aspects of bitcoin going parabolic. When the McRib comes back, and it's a heck of a sandwich, too, I'll be out there ordering a couple. My kids are like, oh, it looks gross. And then they take a bite of it, and I'm like, I know, It's. It's pretty legit.

[A]

Yeah, you got the McRib bat. Again, we don't the McRib map here, so jump on and if you see the McRib in your location, let everybody know.

[C]

So that.

[A]

That's a little bit of hope. Again, we're giving hope here, but we're also giving out some winners. So let's. Let's give credit to you. I know you called in your first alerts for the momentum moneymakers. Avicii, is that anything to do with. Anything to do with music or.

[B]

No, no, no. It's a Neo. NeoBank Meta I actually talked about in this week's newsletter, so shout out to anybody within Momentum, Momentum money makers. It's been doing pretty well over the past few days. And I'm, you know, this little alpha for everybody here. I threw it on the sheet because the more I dig deep into this project, the more I like it. The team shipping updates absolutely constantly. They're shipping a. An actual card. But this Neo bank meta, this crypto bank banking solution, seems to be catching some steam. The reason this popped on my radar is because it's a real team. Rom is the developer of it. His real name I can't pronounce for the life of me, but he goes by Rom, has been very transparent. I love that the Neobank sector is picking up steam. And this is extremely undervalued compared to, like, other competitors. So what's this like, trading at like $2.50? Not financial advice. I'm a holder. I'm continuously actually dollar cost averaging in on this because every time I look into it, there's something I like more and more. So I encourage everyone, hey, take a look at it. I'm not telling you to buy it because I'm a holder, but take a look at it. It's a super cool project and it's undervalued for what they're trying to build. Again, anything could go to zero. These are smaller market caps. This is a $30 million market cap. But there's a potential here for it to really take off. You too, TiVo. You should look into it after the show a little bit. Do a little Twitter search.

[A]

All right, well, we'll take a dive. And then again, if you're interested in those first alerts, I do have the link in the description for everybody. If you're interested in getting the newsletter and the first alerts from Brian and Joe, check it out below. Let's. Let's have some fun here. People are saying in the chat they want the crypto bagel too. The McRib and the crypto bagel could bring us, could bring us to Valhalla. If you had a crypto bagel for breakfast and the McRib for lunch, Bitcoin might be 200k by dinner.

[B]

That's good.

[A]

All right, what else are we seeing here? A little pump fun. They're still pumping out some pump Fun.

[B]

Yeah, I mean, this is another project if you're part of. Mmm. You know, I like what Pump Fun's building. I think it's a. It's a good. The pump Fun. It started as a Solana meme coin launchpad for anybody that's Curious. And especially in this meme coin hot meta, which they're not going anywhere, but they're continuing to evolve and they just announced Spotlight and it expands pump fund from really a Meme Coin platform. They had 8,850 million dollars worth of revenue and now they're going to tokenize utility projects, essentially Internet capital markets. I love this because this is expanding and enhancing their ecosystem. I think it gives them massive upside potential at the end of the day. So not only are they kind of the leader of meme coins that aren't going anywhere, now they're bringing in this Internet capital markets where you can tokenize utility projects. We know what they're trying to build with streaming. I think pump funds continuing to ship updates in products, in innovation, in a market that feels a little bearish. So it's one of my favorite tokens out there.

[A]

Yeah, I love it. And speaking of launch pads, looks like Coinbase might be doing some work. They're kind of teasing it a little bit. Right.

[B]

Well, something dinged on me there. I missed what you said.

[A]

That was just this Coinbase video. It's like, is Coinbase looking to launch a launch pad here?

[B]

I think so, man. I, I, I, I, I don't know what it's gonna look like. So we all know, like the famous trader and Twitter personality Kobe, he sold Echo or sonar for $300 million to Coinbase and he has a pretty long tweet thread kind of talking about, you know, how he sees Coinbase integrating it. And then all of a sudden, what, 11:10, I believe Coinbase is making a pretty big announcement. So is it a launchpad? It's something. So again, it's just another point out there that all these web three or huge billion dollar companies, they're not sweating the 12 pullback, you know, they're building, they're innovating, they're continuing to develop this sector. We got the President talking about how we're going to be the leaders of the crypto world. This dip's a gift. And this is just another reason why.

[A]

Yeah, well, people agree with you that this dip's a gift. Even though they might be pumping their own bags here or there. We got CZ giving some full disclosure. Full disclosure that he's buying some Aster.

[B]

Oh, yeah, yeah, he sure is. And he sure is. I have a love hate relationship with CZ at the end of the day, but CZ buying Aster, it's for everyone who's curious. Aster is a perps deck similar to Hyperliquid. But it's found on Binance. We'll see what this develops. But with him kind of like acknowledging that he's buying it with his own personal funds. There was a couple weeks there he couldn't shut up about astern. It was just going parabolic. But I think they have something, something up there up their sleeves.

[A]

Yeah. And then you threw this chart on. It's actually fascinating to watch it right now again. You woke up this morning, it was red across the board for stocks. It was red in crypto. There's a bounce going on right now. Well, credit to us for doing the show. I'm sure that's why it's happening. We go live and you're just starting to see. Let's start with the 24 hours. I mean, Filecoin 123 fet 82%. Let's see any other ones we know. Render up 50 render. We used to, you know, I know we had to get some good trades on render near. We saw Zcash, the graph. 30, 30, 25. You know, some of these guys we all know and love some of these, we hold Celestia up 20%, so. And then again, I know if we go out, I don't know, let's, let's start there. Any thoughts here? I know you put this link in before this kind of rip happened. Could be, you know, you don't, you don't want to get too excited in one hour time frames or two hours. But, you know, Pengu got off the Mac too. It was down 3%. Now up, you know, 12%.

[B]

Yeah, I, I, I think we're kind of finding a, a local bottom here. At least I hope, I hope that's the case at the end of the day, just for all, for all of us to enjoy our weekend a little bit. But it, it does feel like we touched the bottom on a lot of these major tokens out here. I'm pretty interested in the AI sector with crypto. I know Michael Burry and I might not look eye to eye, but I love the movie the Big Short. And he's smarter than I could ever dream to be. But he's also been, like, really wrong over the past 10 years. Like, really, really wrong. Like to the point where he stopped tweeting because he was getting heckled so much for being wrong. But he's got billions of dollars. And I think a lot of these AI tokens out here have, have potential to continue running. I mean, I have my favorites out there, like the towels and the renders. And there's A ton out there. And I think the integration of AI and crypto is especially going to be interesting as we continue to push forward. And we have, we have a lot of. We talk about the arms race between us and other countries and the two things that keep getting mentioned is AI and crypto almost separately, but they integrate as well. So it's, it's a space I'm pretty interested in.

[A]

Yeah. And again, this is just, you know, some quick gainers but if you flip this to, you know, let's go seven days and see what everybody's looking like. Some. There are some still winners over this. Let's Z Cash obviously up there. Icp, Internet computer. Man, what a. What a legend. They've been around forever, so there's still some winners. One inch network. Damn. There's some near. They're getting off the mat here.

[B]

Yeah.

[A]

Interesting to see. Let's go out to 14 days, see what's going on here.

[B]

I think this is always an interesting point too. Whenever you have such a down market. Don't even want to say it's such a down market. When you see a pullback in retails, freaking out in bitcoins, you know, teetering right around 100,000 a key number like what projects are bouncing off of it, which projects are thriving. That makes me always really interested because you can tell, I mean, if they're getting bought up in a bear in a bare day or two like this now what's going to happen when we really start to pick up?

[A]

Yeah. All right, let's wrap up. We got, you know, we got about 10 minutes left. Let's do I see Pudgy on here. We talked about that. Some Pudgy news with, with Virtuals and then we'll go to prediction markets to wrap it up.

[B]

Yeah, Pudgy. Pudgy has like an AI creator now that you can utilize like, you know, their iPad. So Virtuals is on the base network. It is an AI agent platform. It's done pretty well. It's had its fair share of ups and downs, but recently it's been picking up Steam and again, I get it like I'm a Pengu holder. I've recommended to Pengu to my friends and family and I am a huge believer in this project still that between gaming they're one of the few crypto companies that absolutely make millions of dollars every single month. And that's not even just in the web3world. They sell toys, they have a retail sector. They're integrating with Pudgy AI in creation. This IP is Not going anywhere. This company's not going anywhere. So again, it's, it's a, it's a project I'm still very bullish on. But I understand nobody likes volatility. Nobody likes to see huge red days. But sometimes when the bitcoins, the Ethereums, the Solanas of the world take pretty big pullbacks, the higher risk assets like a pudgy will take an even bigger fall. But again, I'm kind of like built for this stuff.

[A]

Yeah.

[B]

And it makes me like, okay, we're gonna, we're gonna add some more to our bag and we're gonna continue going down that rabbit hole because I see a path for them to be even more successful than what we could dream. And it's just another case where they keep shipping.

[A]

Well and either, you know, you've got, you're either a long term holder and you can live with it or, you know, at one point, I know the pudgy from the bottom. I was up like 400. It's like, hey, you got to figure out how to, you know, do some risk management. And I did that. And you end up selling some because your stop losses get hit. But what you did was you raised cash. Like, hey, if it goes higher, I still have some. If it goes lower, you know, now I got some cash, we can, yeah, maybe buy a little bit more Pengu, who knows? Not personal financial advice, but that's something that I, I've definitely been eyeing up along with some BMNR for sure. When, you know, again, volatility is just really opportunity if you know what you're doing. But you got to make sure you're educated. And that's why again, if you guys are interested, we got all the links down there to join momentum money makers or if you want, kind of the broader subscription. I know. See, our guy came and hooked us up with a little $1 trial link down there as well. So check it out, guys. Yeah, I don't know, Now's the time where you need education, information. So, you know, we appreciate you being here on the show, but also if you're interested in getting more, check out those links. Let's finish up on some prediction markets because again, the prediction market race as we've been correctly predicting double, double prediction there correctly. Like you, you've been all over this. We've been talking on the show. I don't want to click this from Bloomberg, but Gemini, yeah, Gemini, all good. Gemini is. Gemini's doing a prediction market. Shout out to Gemini sponsor, presenting sponsor, the Crypto 101 podcast. So we'll, we'll definitely be keeping an eye on that. And then Google had a big partnership with Kalshee with polymarket. That's huge. And Polymarket.

[B]

Wow. Yeah. Yeah. I mean they're not creating their own prediction markets but they're using the data in their short in their search results. So I say this to everyone that's curious about prediction markets. We have what Robinhood underdog, crypto.com, now Gemini, all these DraftKings buys, Railbird, we have all these multi million and billion dollar companies now leaning into prediction markets. It's kind of the meta of the world right now. But prediction markets are awesome. They're for so many ways. If that's, if you're just, if you're just interested in utilizing prediction markets in a very, you know, from the wagering standpoint or if that's just from a straight data, we, the New York Stock Exchange parent company ICE put up $2 billion to get the data. Now we have Google Finance rolling out polymarket and Cauchy prediction markets data and search results because the data is worth so much and it's some of the most accurate data we absolutely have. And I can't get enough of it. I think I put it on the sheet, it doesn't matter if you show it. But I've been following the government shutdown odds recently on polymarket and I did see a huge spike because the other day it looked like it was going to end between the 8th and the 11th. And I saw this huge spike that after November 16th, still not a tremendous amount of time away. But I would love to see it like this government, I mean I'm trying to get on an airplane eventually they're cutting 10% of flights next week and that's when it's really going to start impacting people. Not even from like people getting around for vacation or traveling for Thanksgiving. We're talking about just like delivering goods if we're losing flights. So I think this is going to take care of itself sooner rather than later. And if we, if we're looking at Poly market, they're saying 60 chance it's going to happen after November 16th with a pretty big spike recently.

[A]

Yeah, that is interesting but that, that goes along with my thought of earlier in the show is like, hey, this is going to get done before Thanksgiving. Which I guess at this point, you know, isn't, isn't a huge like risk curve, but it makes sense. It's time to get done. I kind of like the 12th through 15th a little bit too. Maybe like, maybe a little action, get a little act.

[B]

Not gonna lie. Not gonna lie. Let's see a yes. Let's just say 20 bucks wins you $75. Not financial advice, but that'd be a fun little sweat. That's all I know.

[A]

Yeah. Having a little. Having a little fun. Yeah. At least I finally got one prediction market thing right when I did the. I bought the 30 day when it was low, man. And then just the odds spiked up. I didn't even wait for it to close. I just sold it. But it was like, that was, that was the fun part of that. It was, you know, getting something right on Polymarket and Calgary for once.

[B]

But we like the big odds.

[A]

Brian and I are risk takers. We like the big odds. We're gonna kick it around for another five minutes or so. If we have any questions, throw them in the chat. We'll get you guys involved. We'll. We'll answer some questions from the chat. Just an absolutely buzzing Friday. Any, Any final thoughts? Anything you want to, you know, go dive onto Twitter about Brian. A little open for forum here before we close the show.

[B]

Well, I'll tell you what. We're talking about prediction markets. I was absolutely dominating prediction markets for a couple of weeks there. Months positive P L. I'm in the top 10% of P L. Feeling great about it. And I have given it just back they launched sports that me and the Del. It started with the Delaware Blue Hens.

[A]

No, don't say that.

[B]

Don't say that. Then, then I've been chasing ever since. So I've given quite a bit back. But I, I'm still super bullish on these prediction markets. I think we see a token. I think Paul even committed to saying that they're gonna have a token. So at least if I, if I catch a loser, I'm like, well, I'm gonna get it all back with the token airdrop. But we, we've had a little bit of a. I, I should maybe just stay in my lane with the crypto predictions. I feel like I'm really sharp on that side of things. But then when you start, you know, I'm starting to like, dabble with some NFL and NCAA bets out there and for some reason I just keep losing by half a point. Yeah.

[A]

Yeah. Well, that's par for the course if, if I'm sure if you look at our DraftKings or FanDuel accounts. But let's see. So we got Fed decision. Let's see. Let's look at that, because that's one, that's definitely been some, some odds changing here recently with definitely the data being dark. So what do we got here? What was this? 25 bips decrease was pretty high at one point. Halloween last week it was 90. Now it's dropping because we're not getting the data. Plus the Fed speak was pretty nasty of not knowing what they want to do and then no change. 24%. 70.

[C]

Still.

[A]

Still pretty high.

[B]

Yeah, still pretty high, man. It was actually 60, 60 something percent yesterday, I believe. And so it must have bounced back a little bit. Just goes to show you that you can get some opportunity out here. Yeah, it's 60, 66% just the other day. And so we're starting to cry back up again. I think we're getting 25 bips. I don't want to touch this, but I think we're still getting 25 bips.

[A]

Yeah, it is interesting. I think the most interesting part is in 26, which is something that, you know, we'll be covering for sure. But I was thinking about this the other day was like the next big storyline is, is the next Fed chair and what's going to happen to the Fed? Obviously the administration gets to choose who it's going to be and that story is, is going to be told in 26 and it'll be awesome to cover it and watch it. We know that they want to pack it with a bunch of doves and get rates lower. But it'll be interesting to see how all that plays out. And we knew it was coming and now obviously, as the year ends and you know, you're kind of seeing the timeline of when that will happen is it's kind of coming into scope, if you will. And I, I think that's going to be a fascinating thing to watch out, watch out for, See how markets react, see how, you know, the prediction markets react. But I do wonder if, if possibly, you know, I think the Fed, as we say, it's a tough job. It's hard to do it perfect, if not impossible to do it perfect. So I have no personal, you know, thoughts of Fed Chair Powell. Then I thought, you know, I think he holds the position well and speaks well. You can disagree with them, that's fine. That's part of having opinions and doing your research. But at the same time I think he holds himself well. But I wonder if at the end of his term is like, you know, again, he's going to be in the history books no matter what. So, you know, how does he want to be Seen the history books? Is he going by the numbers or. There are other people in the Fed that we know, you know, have kind of a political agenda that, you know, both sides have political agendas. But it's like, dude, it's like a, it's like a TV show almost. It'll be interesting to see how it plays out. And as his time comes to an end, I feel like personal feelings and, you know, politics might get more involved around decisions, knowing what's going to happen after he leaves office, if that makes sense.

[B]

Oh, for sure. He needs to stop wearing that purple tie.

[A]

My gosh, 99.

[B]

Yeah. I mean, he's just all over that purple tie. I'm on the wrong side every week, every month. I mean.

[A]

Yeah, well, we, we didn't, we didn't get any questions, but man, the chat was buzzing from Ryan to Fitz to Cje. Don't forget Deborah says, go Hens. How about that Hen's homecoming this weekend? Got some friends down in Newark, Delaware to go see the Hens win their homecoming game tomorrow. So we might have to get up some action. But great, great live. Any final thoughts, Brian, before we sign off?

[B]

No, I mean, even though we're, even though we're a little red and we're bleeding a little bit, still no reason for me to be overly concerned. It's just, it's just a lot of buddies and family, friends and texting me what's going on and I'm giving them the answers and they, they don't like to hear what I have to say. I'm just like, time to keep dollar cost averaging in.

[A]

Hey, but that's what we always say. That's why you're here. And we, we, you know, we show up to the music whether it's red or green. And we've been doing this for years and we're going to keep doing it for years because it's truly what we love to do. We appreciate everybody joining in, but hey, at least we face the music when it's red again. Zooming out. I agree with you. There's not that much to be worried here, but there's going to be a ton of stuff going into the end of the year. Markets are going to go up, they're going to go down and there's going to be tons of information. But you're in the right place. So please give it a like. Subscribe if you enjoyed the show again. I, I put this on our, our post to let you know that we were going live. I'm trying to be better than that. Now that we're getting to the flow, we got a lot more lives coming next week and through the rest of the year. We appreciate you joining. My name's Tevo for Brian. This is the Crypto 101 podcast. Hope you guys enjoy your weekend, but that's all for today. Bye. Bye, everybody. Have a good one.

[H]

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[I]

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