← CRYPTO 101
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One thing I love about summer is everything's just getting easier. You're outside more, you're taking vacations, and it's the time where you're really not trying to overthink every outfit. You just want stuff that feels good, works, and sometimes is a little cool. That's why I keep coming back to Quints. They make those pieces that you end up just wearing all season. For me, it's the 100% European linen shirt and the matching linen pants that has become one of my go to beach vacation outfits. I've gotten so many compliments on it. It's breathable, it's comfortable, it looks put together, but it's still feels relaxed. You can literally wear this thing going to the beach all day, walking by the water for a sunset, and then head straight to dinner later feeling completely comfortable and looking fashionable. And that's really what Quince does. Well, their 100% European linen pants and shirts are easy to wear, perfect for summer, and the price is unbelievable. And they start at literally just $34. They also have soft tees you can wear all day, plus lightweight cotton sweaters that are perfect for when the temperature drops a little at night. Everything at quints is priced 50 to 80% less than similar brands. They work directly with ethical factories and cut out the middleman. So you're paying for exceptional quality, not the brand markup. And it's not just clothing. Quint has become one of those brands people trust for home travel and everyday essentials too. You've heard me talk about their website before. It's super fun to scroll around. They literally have everything, so make your summer wardrobe easier. Go to quint.com crypto101 for free shipping on your order and 365 day returns. Now available in Canada too. That's Q U I n c e.comCrypto 101 for free shipping and 365 day returns. Quince.comCrypto 101 if you've been sitting on a business idea, Shopify is the place where you can actually make it real. The thing I like about Shopify is it takes the scary part out of starting. You're not just sitting there trying to figure out a website, payments, checkout, inventory, all these little things that stop people before they even launch. When I think about building a storefront, the biggest thing is friction. You want someone to land on your page, like what you're selling and be able to buy without getting stuck. That's where Shopify is huge. Shopify Checkout is built to help more customers finish their purchase. And when they come back, their details are already saved. One tap and they're done. The cool part is Shopify powers millions of businesses worldwide, from huge brands that you know, like Mattel and Gymshark to small businesses just getting started. So whether you're building the next big brand or launching your first product, the infrastructure is already there. Once that part is handled, you can focus on the real work. Building the brand, getting attention, and bringing people to your storefront so the business can grow. That moment when someone actually buys, that's when the idea becomes real. With Shopify, nothing stands between your idea and a real business. So go make it one. Start your free trial today@shopify.com crypto101. That's a free trial at shopify.com crypto101. All right, everybody. Welcome back to the crypto rundown, guys. As Max Fear reach for bitcoin. The noise and the news has been overwhelming down to the negative side. But the price action isn't reacting how most people might think. So we have to ask ourselves, number one, what is going on? We're going to tell you. Sailors selling Tom Lee's buying and is the war back on? This fleet's flip flopping back and forth and we want to take that news and, and see what's going on in the charts. That's why we have Brendan here today. He's going to break it all down for us on the technical side along with all the news. Brendan, welcome back to the show. We really do have a lot to cover. Maybe not as many topics number wise, but there's, there is a lot going on this weekend that we want to break down and then see how it, the results are on the charts.
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B
Yeah, always a pleasure to be back here, TiVo. You know, we always have fun with these things, especially on a, a day like today. There is a lot going on, right. And I think there's a lot of important pieces of data for the average listener to really understand because we've had this kind of extended rally on bitcoin. Bitcoin saw six straight days of green, meaning that for six straight days in a row from last Wednesday up until this Monday, it closed higher every single day, putting in six green candles in a row. We're coming back down here a little bit, but definitely a lot to talk about. I mean, you name it. Robinhood, Michael Saylor, Tom Lee, geopolitical stuff. There's a lot of different kind of moving pieces and factors to watch out here for. The Crypto market. So excited to dive in.
- [04:30]
A
The first general one we'll say is that this Iran US conflict seems to be kicking up again as we've said on the show a lot over the last months now it's like, hey, that's a situation that seems pretty fluid. Politics aside, that's not our department. We will say the markets are completely seeing through it at this point. Yeah, you'll see some day to day ups and downs on that specifically with the oil spike and maybe the 10 year and things are reacting. But again this has been such a back and forth saga that it's hard to do other, anything else in our shoes other than just look at the markets. So that's what you're gonna have to do for that we'll break you down. What we're seeing today on the price action, but what I wanna start with Brendan is is Michael Sailor selling. And again the first time that he sold it was just you know, showing people like hey, we are willing to sell. It was a very, very small amount. I, I don't know, I'm not going to qualify this as a small amount anymore. This is a, a sizable portion. 3588 Bitcoin for $216 million to fund the dividends for the digital credit securities. Your thoughts? Just take it away.
- [05:36]
B
TiVo. What have I said about this, right? What have I said about him going to need to be selling more to fund the dividend because they're either unable or they're not willing to use the money that the company is making to pay this thing. Listen, I again I'm a big fan of Michael Saylor. I think he strayed from the mission a little bit here. I've been a critic of the whole dividend thing that they're putting on. But this is something that we talked about for like at least a month or so. On the rundown, maybe two months now we've been talking about this exact scenario. He came out the first time, said oh, we were just selling a little bit. He, his whole thing was always never sell, never sell, never sell, you'll never have to sell. Now he's coming out and saying, oh well, we're just going to sell a little bit to improve our credit and this and that. It's like, okay, well that's fine. It's kind of understandable. Now he comes out again and he sells almost a quarter of a billion dollars worth of bitcoin. And I was looking at the numbers. If you look at how much he's bought versus sold over the last month or so, he's at a net loss. He did two different selling events. I think it was June 8th and June 15th to the 21st where he bought, excuse me, he bought around 2070 Bitcoin, some on June 8th, some on June 15th to the 21st. And then he sold around 3588 Bitcoin from June 29th to 30th and then from July 1st to 5th. His net loss here, at least what I'm seeing from the last month is -1508 Bitcoin, which is worth around $75 million. So when you factor out all of what he's bought and what he's sold, the net number here is a net loss. So he can say he's buying, he can say he's doing all these things. The last month of data says, dude, you're coming out here at a net loss in terms of bitcoin. And that just feels contradictory to what he's always been saying. Right? He's always. And the other thing that I've been getting frustrated with. So excuse me everyone, I'm going to go on a little bit of a rant here. I'm going to get fired up about this because he's always posting. Looks like a good time to add more orange dots. We're going to add more orange dots. The orange dots make this chart better. This and that. And like I always see posts about it and it's like, okay, well like we're saying all this stuff but what's actually happening behind the scenes? Behind the scenes it's net loss. It's a net loss of bitcoin over the last month. You're telling me that bitcoin is at cycle lows, the lowest point that we've seen in years. And you're selling more than you're buying. And it just does not make any sense to me. I mean, I guess I'm straw manning this a little bit. So bear with me. TiVo. But I get fired up because like we're big crypto advocates, we believe that bitcoin will go higher. What does that mean? Well, we believe that when it hits cycle lows and multi year lows, it's a, it's a long term buying opportunity. That's what we think on the show. And so that's what we say. We put our money behind our mouth. You know, I've talked about myself buying down here. I've even talked about picking up leaps positions. I'm very bullish on the long term of bitcoin. At these prices. I just wish and I hope that my actions are reflective of that. But it fires me up when you see someone who's been such a big bull and such a big leader in the space and his just his actions lately just haven't been reflective of what maybe he's saying or what's going on or the long term vision. And that is a little bit frustrating. So I think that people are looking at this and again I'm straw manning it a little bit here and I understand there are reasons to sell. You know, he's had got to fund the dividend, he's got to improve his credit. It's a business at the end of the day and this entire and that. But I just don't think it looks good and I think that it is frustrating from a lot of the people who have been by his side and listening to him for the past couple of years. So, you know, there's two kinds of people here. TiVo. This is what kind of goes back to the original point. There's two kinds of people at this point in the market when you're hitting lows and everything's at extraordinary value relative to where it's been over the past couple of years. There are buyers and there are sellers. There are people who are selling more than they're buying and there's people who are buying more than they might be selling. Michael Saylor here, believe it or not, I don't think any of us would have believed this a year or two years ago if you had said he's selling more than he's buying down here. But that's just where he's at. You know who's not doing that? TiVo. Good old friend of the podcast Mr. Tom Lee has bought, I believe twice this week, adding to his bags. And you don't see selling headlines from over here. So I don't want to glaze them up, you know, too much and put them on too high of a pedestal. But you know, listen, he's, he's not buying. He's kind of doing exactly what I said. He's seeing ETH at cycle lows. He's seeing what's happening and he's saying, hey, instead of offloading the bag to fund this or that or whatever it may be, we believe that the best thing you can do at low prices is buy this thing. And so that's what we're really looking at is Tom Lee from Bitmind buys 42,197 ETH worth roughly $73 million and then guess what? He bought again. I think it was just a couple of days later for, yeah, another 40,000 Ethereum for roughly 71 million or $71.6 million. And he's getting this from Falcon X and Kraken. So our guy is doubling down. And this is what we want to see, right? We want to see the big money investors, the large ones, the figureheads that are super popular in crypto in Tradfi, these big kind of public figures that we look up to. We want to see them loading the boat towards heavily discounted prices, right? Bitcoin down 50%. Etherium down maybe 60 plus percent. Solana down 60 to 70%. You want to see people that are confident buying down here because if you're not, I think that the whole public will look at it and say, well, you know, if they're not, maybe I shouldn't be. If they're selling more than they're owning, maybe that's what I should do, right? That's what they're going to look at. So you have two different kinds of approaches to this obviously bit. Mine is an Ethereum treasury strategy is a bitcoin Treasury. Tom Lee Net buys here, Sailor Net sells. So, you know, listen, I understand it's a little bit ranty, but I think that what we want here is we want what's best for crypto, right? We believe in this long term, we want what's best and you know, we speak about it and maybe we poke a little bit here, but that's just because we're passionate about it and we want to see what's maybe best for the overall space, not for what's best for some dividend thing for some company. We want to see what's best for Bitcoin itself. We want to see what's best for Ethereum itself. And again, straw manning it a little bit here for the sake of time. Because you could go down the avenues and say, oh well, you know, STRC is good because then they're going to go do different things and then, then that'll allow them to buy more Bitcoin down the road and this and that. And it's like, yeah, you know, maybe, but that's just not quite what we're seeing so far. But you know, that could obviously change.
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B
Teva. I'll hand it off back to you here.
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A
It's a great rant and get the charts up ready for us because I'd really like to see how it has affected the market. But I think the summary is, hey, the strategy of, of 2020 microstrategy of 2020-21, 22, 23, 24 has changed, right? It was, you know, the clips, they're infamous. And then the press hits and the podcasts. Never sell your Bitcoin. And then it's evolved and that's okay. Things can evolve. I think you can make the case that it was kind of an interesting pivot. It happened very quickly in, in a way, in my opinion. I think there's other people. You know, you're allowed to have your own opinion. And it's just, it's a new era for microstrategy. You got to just do your research and, and understand that the facts have. And there's, you know, again, you can kind of see what Tom Lee's doing and maybe his strategy is going to change someday, but he's focused on clearly acquiring Ethereum and using the dividend to, to do. Whether it's acquiring more or paying. They want to do a stretch, but I think there's a plan in place. Whereas they have a plan of their strategic vision for the future. Whereas it feels like the strategic vision for the future of MicroStrategy has changed. And that's totally okay. You're communicating it and you're showcasing it and you're seeing the results of it. So then you gotta be like, okay, well, do I want to be a stretch holder when it's not at par? Do I want to own MicroStrategy stock? You know, do I believe in, in the teachings of never sell your bitcoin from somebody that's actually building products that has to sell Bitcoin and have this washer and dryer of capital to pay these dividends? It's, it's a, it's been a fun saga. And again, we Want the overall crypto market to just do good. So, you know, being creative is one thing, causing a mass panics another. And I don't think we've gotten there yet. But you know, if this, you know, there's definitely some risks, right, at building out all these different products which, you know, I think you can kind of see in, in a worst case scenario could cause some harm. So we'll cover it. Obviously, we'd always like to have Michael Saylor on if he's interested, but he, he hits a lot of podcasts and you know, you kind of take it for what it's worth from his own word there. But let's bring up the charts. Brendan, show for the first thing I'm going to ask is show me the, the Monday news. So this news dropped of him selling a lot of bitcoin and originally when he first sold a small amount of bitcoin, it led to like a cascade in price. This time he sells a lot more and the market actually bounced.
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B
Yeah, I mean there's two things to look at here. And I want to walk us through something that I saw last week. First, because what we've seen is a couple failure to go lower candles from bitcoin. I'm going to move us from the daily to the hourly chart so that we can see this a bit more clearly. But if you zoom out to last week, there was this liquidation event, right? This was the all time lows. And what you saw here was bitcoin kind of roll over here in the later hours of the night on, on Tuesday, roll over sell, breakthrough cycle lows and sort of aggressively falling to the downside. I mean we're talking 58,000 down to 57,000 new cycle lows. And then it was bought up extremely aggressively.
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A
Right.
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B
And that's where you see this big wick come in on the hourly chart. Bitcoin falls through cycle lows, puts in a huge failure to go lower wick aggressive buying, pulls back higher low, more aggressive buying happening afterwards. And then following this failure to go lower, we can go back to the daily chart and you can see bitcoin putting in six green candles in a row on the daily. So you see it climbing up here from that when that Tuesday where it bottom, Wednesday when it bottom dish. And then it basically bounced and went up all Wednesday, Thursday, Friday, Saturday, Sunday, Monday. And then the news came out Monday ish about the strategy news. Right? And what you saw was strategy, you know, selling all this bitcoin off. People were freaking out. Bitcoin had been Doing good. People learned the news. Bitcoin sells off from 63, almost 64,000, falls almost 4% to the downside, down to 61,000. And then Bitcoin again, failure to go lower, eats the entirety of the move back up, goes green on the day, closes at the highest point that we've seen in the month of July, and then has a, just again a really good recovery. So you see a failure to go lower last week, another failure to go lower off of some FUD and news this week. And then we're rolling over a little bit here, but I think that that's largely into some of the topics or related to some of the topics that we're going to be going over here in just a second. Whether it's geopolitics, whether it's the traditional markets which have been really kind of rolling over here in recent days, you've started to see these decline, some, you know, decent sized candles here, you know, going down 1, 1 and a half, 2% plus on some of these days. And then of course some of the data that we've been getting saying hey, maybe this actually is going to affect rate cuts or even boost the chance of rate hikes. And so the crypto market responding to a mix of different factors which we'll get into. But I think the big story from the charts, aside from the news which we're about to talk about, is really that bitcoin put in a failure to go lower last Wednesday, a failure to go lower on Monday. Now it's starting to roll over a little bit. So we want to keep an eye on it. But I like this from a general stance. The one thing I'll say is TiVo. It just doesn't give us enough data to say definitively if a bottom is in. I think what this shows us down here is that I think bitcoin is at a very strong long term value area. What that means is that when we're looking at out, you know, a year from now, two years from now, three years from now, I think this is going to be a tremendous area of value. When you're looking at that longer time horizon. What I think still a little bit uncertain is whether or not the bottom is actually in. We just don't have that kind of data in front of us. Right. You still look at bitcoin here. It's beneath that anchored V WAP from the all time high. It's beneath the 200 day moving average, it's beneath the 50 day moving average, it's forming lower local Highs in here, it's still forming in the macro, kind of zoomed out downtrend, still forming lower swing highs. It's still beneath its prior consolidation range for the most part. I mean heck, it's barely above the 20 day moving average. So when you're looking at the overall trend, the overall trend is still pointing downwards. There's no sign that's like definitive of a reversal. There's some data pointing towards that saying, well if you zoom out and you look at like the weekly RSI and the weekly MACD and the 200 week moving average and the anchored vwap from the prior cycles lows, like it does look like this is a tremendous area of value where bitcoin could bottom. There's data pointing towards the evidence that it could bottom, just not that it has absolutely bottomed yet. And so we're in between a rock and a hard place where again it looks like there's long term value but there's not definitive proof of a bottom. Which means it is possible for bitcoin to come back to the lows, maybe break in the new lows. That has to be something that's on the table now. What does that mean for us? Well, for me I still think that the upside risk drastically outweighs the downside risk. Could bitcoin go to new lows? Yes, but it's somewhere that I would really, really want to capitalize on getting more aggressive. Personally, I, I also think that again with the upside risks outweighing the downside risks, I think that there's just more value to be had betting on the upside at these levels than there is betting on the downside. So what I want to really look at doing here is look at what's strong, what's working, what's doing decent, what's holding some good activity and revenue. And those are the kind of things that I want to buy on the dips. And that's kind of the key word here is on these dips I want to look at, you know, buying some more of this stuff. Do I want to buy the absolute breakout, the peak, where it's at resistance? Not necessarily here, but I want to be conservatively looking at some of these longer term positions on these dip buys. And I think bitcoin still looks good. I still like Eth and Solana. I mean I'm fine buying Eth at 1700 or below. I'm okay buying Solana. In the 70s you've seen Aerodrome pushing up to new yearly highs as of yesterday on Tuesday you saw.
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A
Yeah, man, I mean it's, it's pushing chart.
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B
Yeah. Basically the highest point that it's been this year outside of its like its little peaks. So this thing's been crushing it. You know, where was it hyper liquid. Almost pushing up the all time highs as well here recently. A handful of coins that are doing good. So I would just, you know, say hey, you know, there's some stuff going on but don't believe the doom and gloomers out there because they always want to make it sound worse than it actually is.
- [24:59]
A
Great stuff, great stuff. Thank you. Brandon, Any, any idea of, you know, you, I like how you said kind of risk is to the upside. Yeah, I, I, and I, you know what I credit, I credit to me level good credit to me because I think I've said this a lot as you, you know, I'm kind of the macro like hey, here's what I'm seeing on the timeline and we kind of covered this and saying hey, these high flying stocks, the memory trade, the AI stocks that have been high flying, those are starting to come in a little bit. And I know we covered that the last time you were on but it's continued. But the bottom hasn't fallen out yet. So the bottom hasn't fallen out of crypto. The bottom hasn't fallen out of the stock market yet. So again, I agree with you. The until you see something crack, it feels like, you know, this is a good accumulation zone. Again, I think you need to, you need to understand the risk reward. Again, nobody can tell you exactly where it's going up or down to guarantee that. But there seems to be some strength at these levels right now. And unless there's some other shoe to drop, you'd have to think this is a, you know, without saying personal financial advice for anybody specifically, it's like, hey, this is a good, you know, accumulation zone, which we both have admitted to. Like, hey, the automatic buys are on. We're nibbling here, we're planning and we're keep continuing to gathering information. So if you're doing so by listening to this, you are in the right place because we'll continue to make great content all through the summer. We have a ton of great podcasts coming out. Sharplink went out. So if you want the state of the union of Ethereum, please go back and check that out. If you have not listened to it, we've got Coinbase John d' Agostino coming out this week as well. That's going to be an amazing one. And just a little sneak peek, there's there's rumors flying around, Brendan, that Bryce, our fearless leader and I might be heading to a conference in a couple weeks. It is in the works. We'll wait until it's 100 confirmed but some big names at this conference. Big, big names and we're, we're working on getting there and sitting down with people in person for a bunch of different interviews. So again, this is why you come to crypto 101. That's why you're a part of the community. If you're watching this, give it a thumbs up. If you're. If you haven't yet, bottom right, subscribe and always, as always, check out the links below to get more involved in the communities as we move on for some of the news. Robin Hood friends of the show truly and are going to be at this conference. So if we go, we're going to be meeting Johan in person and it's a couple other people from the Robin Hood team. But it looks like the Robin Hood main net had a. Had a great launch. Robin Hood chain had a great launch. A lot of positive things, A lot of good, a lot of good partnerships along with that as well with all the different layer, layer twos and layer I think. Who else was it? Uniswap, layer, layer 1, layer twos, arbitrum. Just a lot of buzz around the Robinhood chain here for RWAs and quote unquote, great for meme coins too. I saw our chat with Brian who we're having on Friday. So book that for Friday. Perfect timing to get into the momentum money makers world. There's some meme coins popping off on the Robinhood chain as well.
- [27:57]
B
Yeah, there are. We'll show this chart in just a second. Yeah, I mean of Cash Cat, one of Robinhood's leading meme chains surpassing $100 million in market cap here. It's now ranked at the 234th slot in terms of market cap. But it's getting a boost. This thing is running again TiVo or it's, or should I say it's really running right now. But this thing just ripping, ripping face here to the upside. Is this the next big area? I saw our kind of internal analyst team talking about this and you know, is there going to be a lot of potential for short term plays? I think that there is. You know, when we looked at past plays, one of the things that you see is on these exploding ecosystems there's always opportunities. What's going to be the main, you know, defi play. What's going to be the main Meme coin, what's going to be the main this and that and TVL provides spider and you saw it happen extensively with base, right? You saw it with Sui and you've seen it with Ethereum and you've seen it with other layer twos. You've especially seen it with base. I mean, I think that there could be some big plays here for inside of this new hood ecosystem. There's probably going to be some hype. You know, is everything that gets pumped up here going to have long term value? You know, I don't think so, but I think that there will be some long term value plays and in the short term I think there's going to be a lot of different opportunities. So be careful. You know, it'll be volatile, be lots of ups and downs. But yeah, interesting stuff. I mean, Hood's chain here has been pretty successful so far. Yeah, this is a great stat. You know, Robinhood's DeFi TVL on the Robinhood chain nearly doubled in three days to 33.55 million per Defy Llama. And this is only five days after their main net. So Morphone Uniswap here still account for nearly all of it.
- [29:58]
A
But core players, I know, me and your bias, especially myself being, you know, calling out Robinhood or whatever it was $9 a share and that worked from, you know, a pick perspective, but just having them on the show consistently over the years and just how they're building and consistently building and not, you know, not truly worried about price. Whether it's stock or crypto, they believe in this technology future and they keep rolling out newer and newer products. And so I think it's, you know, credit to their team. It's more of the, you know, the, the tortoise and the hair, right. Slow and steady will win the race. And it felt like when the hype was at its highest, you know, maybe Robin Hood and crypto and all that wasn't. You know, obviously people would go there to buy random altcoins and some bitcoin, but when truly building infrastructure, you really didn't think of Robin Hood. And then as you know, the hype has worn down and, and the AI trade is now the bell of the ball. Robinhood continues to build on crypto rails and so I think that's, that's really important. And again, one more shout out for Friday's Live with Brian. I'll get that scheduled for everybody. Actually, I think I have it. I think it's going to be Friday at 2pm with Brian, Friday at 2pm Eastern live. And he's going to cover all this meme coin mania that's going on the Robinhood chain. And just we haven't talked about Brian a while so that'll be super, super fun. Put that on your calendar. But tokenized equities continue to just gain. We saw, we saw this stat that you put on the sheet, Brandon, so I'll hand that off to you.
- [31:26]
B
This is a wild one. Tokenized equity saw a record $3.4 billion in volume for the month of June alone. What this does is it marks a 279% month over month growth rate with 1400% year over year growth. TiVo this is wild. It was primarily driven by the SpaceX IPO surge. Demand for this thing went wild. When all this stuff was happening, a lot of centralized exchanges and places were having issues and downtime with the whole SpaceX IPO. And you know what, people look towards the tokenized markets to get exposure before and after and it's a, it's a big deal. It even says, hey, Solana's network here now accounts for 90% of the volume traded inside of these assets. I don't think most people would have thought that prior to this. When you think of tokenization or you know, tokenized equities, rather I think you would probably think about Ethereum first. But what this is saying is when you're talking about trading these tokenized equities, 90% of that volume was happening on Solana, not on Ethereum. Now does that mean we're bearish eth. No. Right. I think different use cases, different purposes, different products. But I think people have discounted Solana too much. It has been heavily sold off. People think it's only for memes and it's just proven not to be true. Their number one, we looked at them, they had the number one stats for 24 hour or daily active users. Number one in daily active users, number one in 24 hour transactions, number one in daily DEX volume. And now you see them having 90% of the volume traded in these tokenized equities, which hit a record number last month in June. You also see their state. I don't have this on the chart or on the sheet, but their tokenization or not tokenization, excuse me, their stablecoin growth rate is another one that's doing pretty well. So they're doing okay even though they're not the majority of the stablecoin space. They're not near that. But you do see their metrics increasing kind of across the board. So Begs the question if they're increasing the stablecoin market, if they are increasing their tokenized equities market, if they're increasing on and holding the dominant form of daily active users, daily transactions and daily dex volume, I mean they're a real force to be reckoned with here. And so listen guys, we're not maxis. We love Bitcoin, we love Ethereum, we love Solana. This is not me saying this to kind of roast everything else. I have exposure to all three. I do. I have a lot of exposure to all three of those plays. So I'm far from a maxi. But again, I think it's hard to write that off if you are a maxi looking at one of the other ones, it's hard to justify the success that Solana has seen. So listen, I'm glad I have exposure to all of them, but I do think Solana has really done a good job here inside of the bear market, leading and growing still, despite what's happened,
- [34:43]
E
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- [35:13]
A
I cashed out my entire 401k thinking someone stole my identity.
- [35:17]
B
A fake email cost me my dream home. After I sent my personal information to a scammer, my AI agent wired thousands
- [35:23]
C
to an account I'd never seen.
- [35:25]
F
When billions of people feel unsafe, that's no longer a security problem. It's an economic one. At Jenn, we're building the trust layer for a more fearless planet. With products and technologies from our global brands, Norton, Lifelock, Avast and Moneylion. See it in action@gendigital.com I couldn't have
- [35:44]
A
said it better myself. I really don't have anything to add there. So we'll just, we'll keep moving on. Again, there's. It's fun just finding God, these bullish shoots of the continuation of building in the space. Because again, when you're not the, the bell of the ball, it's, you know, a lot of things get brushed under the rug. A lot of good John Dagasina said, this is like you don't have, you don't, you're not inside Coinbase like I am seeing all the bullish information that's coming through the wire it's not getting the noise that it usually does because of price action. And another thing that, that I saw this week, that really, this one kind of blew my mind. I bring it up all the time when we talk about, but you know, different companies hiring crypto positions and digital asset positions and, you know, they're, they're the old guards and none is the older, oldest guard other than Vanguard, who originally was like, we'll never sell the Bitcoin ETFs on our platform. Very, very, very anti crypto. Obviously that changed and they started offering the ETFs. I think the CEO was kind of pushed out the door. I'm sure that wasn't the only reason. But after that decision, the ETFs were at the time the fastest growing ETFs for the Bitcoin ETF. And Vanguard is now hiring a head of digital assets for its personal wealth business.
- [37:08]
B
Yeah, I mean, I have a, I'll
- [37:09]
A
just say this, I'll just say this. Obviously they wouldn't call it head of crypto, but it'd been funny if we made them.
- [37:15]
B
Yeah. Well, I'll have this to say about the former guy. I don't, I have a saying. Business and bias don't go together. Right. And I think that's what there was back in the day, is that you had someone in charge who had a heady, a heavy bias. It was not in the best interest of the business. Or I think Jamie Dimon used to take at least a more admirable approach where he would say, listen, I don't agree with it, but there's money to be made there. And you saw them dealing with digital assets and the whole crypto space, despite him maybe not viewing it as favorably. I think that's respectable. He's saying, I'm putting my bias aside and I'm doing what's best for the business because this can make us money. Regardless of what I might think in my personal beliefs, I think it's an intelligent take as a leader. Right. What you saw in Vanguard was kind of the opposite. You saw the leader saying, oh, well, I think this and that, and we're not going to touch this and we're not going to do it in the business. And then you saw the crypto ETFs launch be some of the most successful ETF launches that we've ever seen, bring in billions and billions of dollars in asset management, or aum, and it was super successful. So the question goes back, how much money did they lose out or miss out on because of these early decisions to avoid all of it. And the odds are they are big, right? I think they're the second. I could be largest or I could be wrong about this, but I think they're the second largest asset manager. They're one of the biggest ones in the world. They could have had a wild amount of market share, right? Likely billions of dollars, and, you know, they missed it. So business and bias, or bias and business don't always go together.
- [38:59]
A
No, it's a great summary. It's a great summary and a great lesson just in business in general, for people, whether you're into crypto or not. Just, you know, I think it's interesting to see these heads of digital assets again referencing that conference that Bryce and I might be going to. I was looking at the list of attendees and, well, it's a confidential list for now, but, you know, I think we're going to get. If we do end up going, it's going to get a ton of good interviews. And a lot of the, A lot of the people going there would surprise you because, again, it's a lot of names that, you know, the old guards and, you know, New York City being, you know, arguably the finance capital of the world, is going to bring the big dogs. So I'm super excited for that. I hope, I hope we get that finalized. Fun thing to end on, Brian. World cup mania has taken over the world personally. Hand up. Not a huge soccer guy myself, or football, however you like to say it around the world. But I will say the. These games, a lot of these games have been unbelievable. I'm a sports guy. I think everybody on the podcast knows I'm a big sports guy. I just love the storylines. I love the skill and soccer, truly the beautiful game as. As they call it. And some of these games have been unbelievable. Just the drama that we were talking before the show, the Argentine, the Argentinian comeback last night was unbelievable. Like, watching that live was actually like cinema. It felt like a movie. Now, what wasn't a great movie was the U.S. soccer team, if we're being honest. I, I will say as a, as a top sports fan, I will give a take here. It's like, hey, this team was hyped up. They won a lot of games in the group stage. But, you know, they, they went out in the knockout round against Bosnia Sarajevo and then they move on and they have Belgium and so kind of teeing it up for, for this part. And I'll circle it back to. To crypto in a second here, I promise. Is the the team was quite a letdown again, I think the group stage was pretty weak. You come out, you win your first knockout game. Good. You're supposed to win that game. And this was the first kind of true test against a top 10 soccer team in the world that is Belgium. I think they're ranked number 10 on FIFA's international rankings list and a lot of great players on there. But hey, this, this US team is supposed to be one of the best we've ever put together. Not that we can go in the whole thing, but we had a chance. We were favored going in. Uh, it's on us home stoil in Seattle in front of the whole crowd. And they lay an absolute egg. They lay an absolute egg. Disappointing. Our top stars weren't playing. You know, we weren't, we weren't really never. We were in the game for a little bit, but it got away from them towards the end and just a disappointing performance, a disappointing cap, as they like to say for international soccer players. So I posed the question to you, Brendan. If the U.S. soccer team was a crypto, what would it be? Bitcoin, Ethereum, Litecoin or FTX Token. And we have a poll here for our friends on YouTube. I put this out to the audience and FTX Token was the winner. Yeah, 47 say FTX token. They're calling, basically calling them frauds. I, I personally voted for Litecoin because you know, it got, at one point it got me excited but it, I don't know if it will ever again. And then I'm not sure who's putting. Bitcoin, Ethereum. I don't think they deserve that title. But what do you think of the poll here?
- [42:15]
B
I think FTX Token is funny and actually pretty accurate.
- [42:20]
A
Right?
- [42:21]
B
At first it was great. We were doing well. We were advancing higher up the rankings. We are making it further in the FIFA World Cup. And then out from underneath our feet, everything's ripped apart. 1 to 4 versus Belgium on home soil wiped out. We were the favorites. We got rug pulled. And the performance was just not great either. Right. That third goal where we had the goalie coming out of the net and into the field and then letting that goal, that to me might have hurt more than the FTX rug pull. So maybe FDX Token is the best, right? Don't get me wrong, right? Go usa. We love America here. We're just bantering a little bit, right? We're just making some jokes. But it was, it was a bit of a heart crushing performance to watch us go out like that after how much hype was in it. I was out for this. I was out and about out in the town. It was electric. I mean, there were hundreds and hundreds of people crowded around the outside of the bar just to look into this thing, just to watch it. We scored to make it 1:1. Electric energy. And then they score. Like what? Like seconds later they score the second goal and then the third and then the fourth right before the game ends. And yeah, probably hurt more than the FTX rug pull, honestly.
- [43:45]
A
All right, well, the poll's still up. There's a couple hours left, so if you're watching this on YouTube, go give it a vote. I do want to talk to whoever voted them as bitcoin because I, I don't think that is. I think Messi is in Argentina, might be the bitcoin of the group. But really appreciate everybody tuning in midweek here on a Wednesday. Thank you so much. We will be back Friday with Brian. That's going to be a really fun live. We'll continue to put out great interviews. We really appreciate everybody who tunes in every week. Thank you so much. We'll talk to you soon. But that's all for now. Bye bye, everybody.
- [44:25]
G
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- [44:47]
B
when she said I don't
- [44:48]
A
dance now, I make money moves, that
- [44:50]
B
was a mission statement for a whole new generation.
- [44:52]
G
Respect. But that's not the Mount Rushmore. Listen. Cash rules everything around me. When that line dropped, it changed the whole hustle. The greatest tracks are never finished. They're just debated forever. Introducing the sprite living track list. 50 tracks that shape the culture from six decades of hip hop. Scan the QR code on a Sprite or Sprite zero sugar to see the full breakdown. Obey your thirst, sprite.
- [45:16]
A
The following ZipRecruiter radio spot you are about to hear is going to be filled with F words when you're hiring.
- [45:23]
F
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A
Fantastic.
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F
So whether you need to hire four, 40 or 400 people, get ready to meet first rate talent. Just go to ZipRecruiter.com Zip to try ZipRecruiter for free. Don't forget that's ZipRecruiter.com Zip finally that ZipRecruiter.com Zip thumbtack presents uncertainty Strikes I
- [46:20]
H
was surrounded the aisle and the options were closing in. There were paint rollers, satin and matte finish, angle brushes and natural bristles. There were too many choices. What if I never got my living room painted? What if I couldn't figure out what type of paint to use? What if I just used thumbtack? I can hire a top rated pro that knows everything about interior paint, easily compare prices and read reviews. Thumbtack knows homes. Download the app today.