Brian (3:43)

Yeah, man, no doubt about it. You know me, I absolutely love eating it up with you on the rundowns. And it might not be the light that we normally see every time we do these podcasts, but that still counts. Those Christmas lights back there still count. The light is still on. No doubt about that. So why don't we. I like it rolling while we get rolling a little bit. TiVo, why don't you pull up Coin Market Cap and we can take a look at exactly what's going on in these markets because there's been a little bit of. A little bit of chop.

Thibaut (4:14)

A little bit of chop here and then, yeah, obviously with the listeners, just bear with me on some producing stuff. I don't have my normal setup, my monitors, my mic stand. So doing my best here to give you all an episode, but there might maybe some technical difficulties at some point. And we'll figure that out as we go. But you see that coin market cap up there for you, Brian?

Brian (4:33)

Yeah, I got it, man. And super, super producer TiVo's going to carry us through this a little bit. It doesn't matter what state we're in, we're always bringing out the most banger content. But to get going, bitcoin, right around 80, 88,000 bucks. I think we touched around 90 a little yesterday, we touched a little 90 today, but keeps getting rejected. And it's, it's what we've been saying over the past couple weeks. It's been chopping, chopping a lot. And there's really not many reasons why. Even though we're getting a tons of bullish news, there's not a lot of reasons why I think we're going to find those new all time highs over the next week or two for that beloved Santa's rally. Even though stocks are starting to turn pretty positive here. I think they were actually in the grief, in the fear and greed meter. They're actually in the greed meter. And crypto of course is still floating around in that fearful moment. But Ethereum, just a shade below 3,000 Solana about 124 again, it's, it's a decent amount off those all time highs that we were desiring and we were absolutely loving over the past couple months. But no real major concerns. Personally for me it's just that standard correction, that standard washout. Now we're getting this, we're getting into the heart of this holiday season. A lot of people are going to probably be away from screens over the next couple weeks, just kind of taking a breather out there. So not a lot of major catalysts I think are going to come through to get us over to 100 or some wild number. But we've seen crazier things happen. But I think we're going to probably chop in this area for quite some time.

Thibaut (6:09)

Yeah, that seems to be the consensus heading into the end of the year. But always a fun thing at the end of the year is low liquidity or can be fun. It can be fun one way, it can be not as fun the other way. But you got to be careful when there's low liquidity. A lot of people, especially bigger hedge funds taken off this week. So more importantly like when the stock market has those half days, the flows are pretty slow with a low liquidity. But as we know, Bitcoin24.7 trading, so you know, it can, it can kind of go, you know, either way. I Remember the that flash crash of on Thanksgiving? I was back in like 20, I think it was 22 Thanksgiving. I mean it was just like I sat down at Thanksgiving table and things fell off a cliff. So, you know, always, always on, always on edge going into the holidays with one eye on the screen. But hopefully nothing too crazy happens unless it's to the upside. I'll pull up the fear and greed index. Last month we hit a 10. Extreme fear, always interesting. Now we're in this, you know, fear range of the, you know, 20 to, to 30 nothing, no price action that we've seen that's going to crawl us out of and get us to neutral anytime soon. Everybody's pretty fearful. And something that we haven't looked at in a while, Brian, that I wanted to pull up was the, the bitcoin trends. This was something that I personally really like. I think a lot of people on the timeline say that it's not, it's not useful anymore because everybody knows what bitcoin is. And I disagree because on the way up we saw that interest started spiking, you know, you know, back when we were going to the 60s and the 80s and the 90s, especially the 100, you know, the first time we hit that it was, it was a good gauge and I felt validated because this metric did work and I have it on a 12 month rate here. So you can see it got to, on the 12 month scale it got to the hundred bitcoins in the blue and that was to the negative side in October on the back end. So again it, it peaked because of negativity, which I think is good. And you kind of like to see the interest drop down, especially on both sides if it's going up too crazily, if there's this huge rip in the markets and the interest piles high. Usually when that pile high comes is when you see a big drawdown. And same thing to the downside. If there's a big drawdown and everybody's googling what's going on with bitcoin, what's going on with bitcoin and that kind of piques interest to maybe some longtime holders that had a little bit of crypto or a little bit of bitcoin, they're going to start selling because everybody thinks the sky's falling. And so same thing. I think it's a good thing to see that trending down right now and just let bitcoin kind of be as quiet as it can.

Brian (8:35)

Yeah, you nailed it. I'm a big fan of the bitcoin trends too, dude. I think it's a pretty good, you know, pulse on exactly what everyone's looking at. I get it that everyone knows what bitcoin is. Everyone knows what crypto. Well, not everybody. I was actually buying a cup of coffee earlier this morning super early after the gym and I have my Gemini card and the guy looks at it and he goes, oh, do you pay with bitcoin out of this? Or I was like, no, it's rewards. And they just started talking my ear off about bitcoin in the drive thru and couldn't have known less. And he was like, someday I'm gonna sit. I'm gonna sit down and learn some more about it. And I did. I gave a shout out. I go, if you really want to learn more about bitcoin and everything that's going on in the crypto world, you need to check out the Crypto 101 podcast. So I was out boots to the street trying to bring one and are.

Thibaut (9:27)

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Brian (10:33)

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Thibaut (10:36)

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Brian (11:12)

One more, one more.

Thibaut (11:14)

One more person on the boat. You're saying one more. You're trying to get one more person on the boat here to join the the Crypto101 pod. And in a natural non advertising way shout out to the Gemini credit card man. And we appreciate Gemini. They just re upped for another round of presenting sponsorship. So you heard that at the front of the show. They're back in a big way and we really, really do appreciate it. So if you're interested in, like Brian said, just buying cups of coffee are going to the grocery store and earning some, you know, bitcoin or they have I think 50 other cryptos that are in that rewards program. Check out the links below for the Gemini credit card. But I think here, here's a, I sent you this or no, that we're going to save that one for later. Here's one pulling up. At the end of the day, all momentum names are down and so obviously bitcoin led the way. And we always find that interesting both ways because at certain points in the last year or two, bitcoin's kind of outperformed on the way up in a way it's, it's led the way up and then the stock market would follow. That was a lot of analysts were saying like, oh well, Bitcoin had a 510 move to the upside. So now I'm looking for the Nasdaq to follow 5%. And then Bitcoin obviously recently has fallen out of bed and the stock market as a whole has not, has not joined it. What's happened in the stock market is, is a broadening. So your high flying momentum names have come down. I'll cover that. That's what's on the screen in a second. But it's, the money hasn't come out of the stock market. It's actually rotated, it's rotated to health care, it's rotated to, you know, discretionary and travel leisure. So I think that's a really good sign for the health of the market is that like liquidity is not getting pulled, it's not going into bonds, it's not going into cash. But in the crypto market like there's, that doesn't really exist, right? There's no Discretionary side of crypto. It's either kind of bitcoin is your discretionary.

Brian (13:00)

Right.

Thibaut (13:00)

It's like bitcoin all coins, meme coins and then stable coins. So bitcoin is, in theory is as low risk on as you get, which obviously we've seen that the market as a whole designates bitcoin still as a risk on asset. So I thought it was interesting just to pull this up because you could see, you know, bitcoin, you know, at this point. Exactly. We don't have Brennan here to do the chart thing where he grabs the exact percentage down. I don't know if you know it off the top of your head, but we're in a 30 to 35% correction. Oracle 48. Lululemon down 52%. Sheesh. Get some new, get some new jogging pants there, Brian. Iron down 56. That's the Bitcoin miner. Nvidia down 20%. Microsoft 14. Meta 18. Netflix down 30. Big correction there. IonQ 46. Core weave 65. So you can see kind of what we've talked about on this show recently is, you know, some of the money that we thought might go into the crypto craze of this bull cycle has been spread out into this AI. The AI build out core weave, AI data centers. Right. Iron taking their, you know, the bitcoin mining company that's then going to sell their power to the AI trade circle. Stablecoins down 73%. And then obviously you have BMNR down 81% from its high. So they're like the, the sky isn't falling just for bitcoin. The sky is falling for momentum names. And again, money hasn't come out of the market, which I think is the best side. Because if, if people get too scared and, and, you know, too freaked out, they're. They're pulling their money out of the market. They're going into the settlement funds, the money market funds, or they're buying bonds. And that's not happening yet. So I think it's kind of that middle ground of this, this trade. But any thoughts on the, the momentum names here, Brian?

Brian (14:41)

Yeah, I mean, it's, it's brutal numbers there by some really key players in the industry. But I, I think you, you said it really well. Thibaut is the money's not getting pulled out of the market. It's just rotating. And I do believe once things settle down, it's always going to find its way back into a lot of these names and a lot more risk on assets. Really, really not Much more to say than it's not just bitcoin and the crypto market that's down. It's, it's, it's a, it's a lot of different momentum trades.

Thibaut (15:10)

Yeah. And this cycle run, bitcoin has seen, you know, upwards of 500 plus percent gains from the bottom of the FTX collapse. And, and since then we've had multiple 30 plus percent corrections. You can see in the summer of 24, 34, right after the new year, in 25, this year alone, we saw 32%. And then obviously on the back end of 25 here, it looks like the number's 36% and then it's kind of bounce off the bottom there a little bit so far at least. So I think if I could, if I could give a quick shout out because it kind of relates to what we're talking about and pulling it up right now. Shout out to Mick. Mick from Australia, DM, the DM, the Twitter account for crypto101 today. And just said he's been on his crypto journey for two years, early days for him, but he just wanted to shout out and say thanks for the podcast. He comes to the Crypto1on1 podcast, loves the interviews, loves the rundown. He says it keeps him grounded and reminds him to zoom out. And that's why I went to do that, number one, to say thanks for Mick all the way from Australia. Merry Christmas to where, Happy holidays, to whatever you're celebrating down there, down under in Australia, our friend Mick. But he says, zoom out. That's what we do on this show, right? We're the fundamentals, we're giving you the news flow. But you got to zoom out because it's been a great journey over the last two plus years. A lot of positives. And when you get tied up into these 30 plus percent corrections, everybody feels it. It is not fun at all. But again, it's been a part of your journey. If you've been with us, you know, for the last year, two years and whatnot, listening to the show, earning some.

Brian (16:42)

Stripes with these drawdowns, I'll tell you that much. You nailed it.

Thibaut (16:46)

It's never a couple grays, couple grays in the beard.

Brian (16:50)

Yeah, it's, it's, you know, it's never fun to live in a super volatile world like this, especially when you're in the middle of a drawdown or some sort of volatility. But again, we say it all the time, zoom out. Nothing's broken. Fundamentally, bitcoin's actually looked as strong as it's looked in a long time. I mean, a lot of adoption, a lot of interest. There's no shortage on news. We talked about this on Last rundown is the last bear market. We were in like 2022 or when it was like clearly a bear market. It was just, we were just like watching paint dry. There wasn't a lot of news, wasn't.

Thibaut (17:27)

A lot of hype.

Brian (17:28)

But right now, every day we're talking about like the clarity acts coming through, Fed rate cuts, new fed chairs. I mean, I think even today I saw that Trump's media company added 40 billion. 40 million, $40 million worth of Bitcoin. So there's a lot of reasons to be bullish and excited about the future. But in the moment, right now, we're in a drawdown and that's exactly what it is. But these aren't that unordinary. I mean, this happens a lot and it's going to happen again.

Thibaut (18:00)

Yeah, I couldn't agree more. And shout out to the, to the chat here before we get into our next topic. That builds off of that. We got, you know, damn, a holiday week here. We got about 100 people tuning in live. Appreciate everybody here. I know we got Grant. Grant is driving from Palm beach back to Tampa. Shout out, Grant. We have west coast or I guess that's a different name. Michael. Michael's here, but I remember, I guess he's the lobster. The east coast lobster or Michael, I guess, is his real name. East coast lobsters here. Anybody else that's here, get in the chat. Tell us where you're from and how you're doing today. And if you could just give us a like, and if you're new, bottom right, hit the logo and subscribe. But, Brian, some really interesting stuff. I sent you this thread that I'm gonna pull up here next. It's the gold versus bitcoin debate. And when I think we got to be as humble as we can as bitcoiners here, you got to say, hey, listen, gold won in 2025. It is what it is when it comes to price action. But was really, really interesting. If we want to, if we want to scroll down and follow this thread with me. If you're watching on YouTube, this is something that truly nobody called. So we'll do a little history first here in the thread. So 2013, gold crashed 28%. And then when that crash happened, $25 billion got redeemed and was sold in an investor panic. 2025, Bitcoin drops 10% and 2020, I'm sorry, 2025, Bitcoin has dropped 10%. We've had a, you know, an off year for Bitcoin here. $25 billion of inflows has happened. So even though the price has gone down, percentage wise, the inflows are up, which means the dip is being bought. And, and we, we know who's leading the big names. We talk about them all the time. But it's an interesting idea around psychology. Again, it's not as big as a draw down 28% in 2013 for gold versus 10%. But it seems it could hint at a new age of, you know, that's a $50 billion swing from minus $25 billion, 25 billion in redemptions to 25 billion inflows. That's 50 billion in the opposite direction. So we got the 2025 leaderboard, I bet, ranked 6 overall with $25 billion in net inflows, the only negative performer on the board. So I bets down for the year. Everything else on the board is up, but it still has 25 billion in inflows. Just I, I think that's really telling the kind of the fundamentals and the narratives that we've been kind of bringing to the show, Brian, is like the price action hasn't been following the fundamentals. But traditionally, if you ask any especially big tech investor, it's, hey, the story, the fundamentals are going to lead, lead the price. Eventually the price catches up. But it's the fundamentals in the storyline of building out tech and building out the future that that kind of leads the way.

Brian (20:38)

Yeah, this isn't about bitcoin beating gold's price. It's about behavior. Like you said, In 2013, gold faced real stress, investors panicked and they pulled out capital. And now in 2025, when Bitcoin faced real stress, institutions stepped in and they bought aggressively. Really the same type of drawdown, but a completely opposite direction. And what that personally tells me is bitcoin crossed that. Like you said, the real psychological threshold, it's no longer being treated as a speculative trade or momentum asset. It's being treated like infrastructure, something institutions allocate to deliberately. They rebalance in during volatility, accumulate when the prices are under distress and under pressure. And the most important signal here wasn't the price action, it's the flows. And the flows are showing conviction, especially conviction in bitcoin. So to just kind of wrap it all up, markets talk through price, institutions talk through flows and flows. Just told us bitcoin isn't on the watch list anymore. It's basically in the portfolio.

Thibaut (21:45)

Yeah. And then here I'll pull up this as like a visual for people. So here's the, the top inflows for ETFs for the year. And you know, as you can see here, IBIT represents Bitcoin down 10. Everything else on the leaderboard has a positive year to date. Which again overall for price action, if you're going purely off percentages is not a good vote for Bitcoin. But I mean the, the fact that it's down 10 with this type of inflow, it just kind of tells you like, hey, this is the vote of the institutions. This is the vote of kind of the future in a way. Right. Because it probably is. I, I can't guarantee this, Brian. I'd have to look it up. But my guess would be this probably one of the newest ibit, like for how old it is. Right. It's probably one of the, the youngest options on this list. So it's something that, you know, we've said it so many times, you know, BlackRock, when, when BlackRock's putting the time to not only invest in the product but market it. Like this is something that they're planning for the next 5, 10, 20 years. This isn't a six month play for them. And, and continuing on with the institutional side, I mean friend of the show Jamie Crypto diamond himself, JP Morgan is exploring crypto trading for institutional clients. I know that's, you know, one of your favorite friends of the show, Jamie Crypto diamond. But it just continues, it just continues with JP Morgan. Brian.

Brian (23:06)

Yeah, I mean they're jumping in. I mean they were calling Bitcoin Pet Rock just a few years ago. Now they're telling their investors to allocate more assets to crypto to start paying attention. They've been buying, they've been offering this to their, to their clients and it's really an exciting time and this, this bleeds opportunity in my eyes. I feel like every time the market's ripping and we're at $120,000 bitcoin and we're all just so happy. You know what my number one feeling is is I'm underexposed. I wish I had more. I really feel that way. And it's, this is our opportunity to dollar cost average in do I think we could bleed a little bit lower? That's always a possibility. We could go down another 10% to $80,000 in rebound up. But I think in the long run we're definitely going to beat all Time highs in bitcoin. I think we're going to be very happy because you could just see the smart, where the smart money's flowing. You just showed the gold versus bitcoin debate. I think that's so telling. Gold had one of its best years of all time. Bitcoin was down slightly. But they both attracted very similar institutional interests. So what happens whenever gold starts to cool off and we all realize it's just a gold shiny rock and people are more interested in what's happening in the bitcoin world? I think bitcoin and those inflows are going to absolutely pull, pop off and it doesn't scare me that much. This, this we're chopping, we're kind of, we're getting rid of some of the short sellers. We're establishing a strong base. This happens all the time. 30, 40% drawdowns aren't that uncommon unfortunately. And that's why a lot of us are in this market volatility. We can use this to our advantage. So I'm, I'm personally dollar cost averaging in. Because every time we hit a new all time in bitcoin, the number one feeling I have is. Well, my number one feeling is this is great. The number two, very close is I wish I had more.

Thibaut (25:06)

Right. I mean volatility is opportunity. Those are words that I've, I've listened and learned and it takes you, takes a couple, takes a couple shots on the chin before you can, you can learn and harness that volatility as opportunity. But I certainly do believe that as well. Moving on to this because I think this is important to bring up. Another thing that we have not talked about is the M2 money supply, global liquidity versus Bitcoin. For a while, basically last two years this thing has been tied at the hip, usually M2 money supply, leading bitcoin by a little bit and bitcoin catches up. But that has not been the case. This is definitely the widest gap it's been in recent memory. And there's a lot of people on the timeline that think this is, you know, this is true religion, that it's always going to catch up. That seems to have faded. So I think it's important to, to, to bring that up too, even when it's not going your way. But it's hard to see these charts being this far apart in my opinion. I, I think it's hard to see these charts being this far, far, far apart for, for too long of a time. So maybe M2 comes back in. It's Something as a lagging indicator that, you know, we didn't see coming or, you know, eventually I think bitcoin starts to at least move towards catching up to this. But important to bring up even when it didn't go as planned for a lot of the crypto. Crypto bulls on the timeline.

Brian (26:24)

Yeah. This chart, what, just a few months ago, whenever we were right, absolutely mirroring it on that move to the upper right hand corner there we were all like this. This is going to set us up. This is exactly what we want to see. It's mirroring M2. But of course it didn't work out that way. Again, it's just one of many metrics out there. I think bitcoin could close that gap very quickly in the right conditions.

Thibaut (26:49)

Yeah. Again, just something to monitor, I think. It almost seemed, I do agree, everybody was following this for so long that when that green line took off to the top. Right. The end of the summer, you know, it was, everybody was like, all right, here we go. The run into the end of the year, the, you know, a lot of, a lot of fundamentals were there, not just this chart that was making people bullish in the year. And then obviously October, October 10th or whatever the exact day was for that. Largest liquidity drain in crypto history. Set us back and continues to set us back and disrupts the underlying fundamentals of, of the, the bullish narrative for sure. But just something, just something I thought was, you know, good to bring up because you can't just bring stuff up when it works again, you got to get the whole picture, which is why it's only one data point. It's not, you know, the only data point. Something that is exciting for the space, kind of something we knew was coming was Coinbase had a big announcement last week. They're doing stocks. So they're trying to, they're trying to do the all in one, the all in one platform. Stocks, prediction markets, Dex assets, the whole nine yards. Let's, let's let Brian, you know, CEO of, of Coinbase, Brian Armstrong, tell you in his own words.

Brian Armstrong (27:59)

Recap. Here's everything we shipped in the second half of this year at Coinbase. First we launched the everything exchange. You can now trade multiple asset classes on Coinbase equities, prediction markets, millions of crypto assets, token sales, simple derivatives, anywhere, anytime. Next Coinbase is not just a trading platform. We're building it to power your entire financial life. Today we announced direct deposit, instant unstaking Ethereum backed loans, updates to our borrowed product and a redesigned peer to peer payment experience. We also shared an AI powered advisor design designed to help you manage your financial life. Next, we shared what we're building for businesses and developers. Coinbase Business is now out of beta and available to everyone. And we shared a number of updates to our fast growing Coinbase developer platform, the suite of APIs designed to integrate crypto into the app.

Thibaut (28:51)

Initial reaction for you, Brian tossing it to you?

Brian (28:55)

Yeah, I mean, I followed this pretty closely. This happened Wednesday night. It was an interesting live stream, obviously bullish for anybody in the space. Great for Coinbase. I think the 247 stocks and equity is super interesting. I, I, we pretty much knew that we're gonna come out with a prediction market because it's a prediction market super cycle. They're gonna be offering Solana based assets. He talked about the AI assistant. It was just a plethora of announcements and they, it's exactly what he said there. They want to become the Everything app and I think Robin Hood is doing that as well. Coinbase is well on their way. They, they're embracing this on chain data, the blockchain, the world we're moving into. And this is exciting, great for Coinbase. It's super exciting for anybody that probably holds onto their stock. It's super exciting for our entire industry. I think there's just even more to come. They're trying to be bigger and better out there and I have a feeling that they're going to be pretty successful becoming the Everything applied.

Thibaut (29:58)

Yeah, it's interesting where this Everything app has kind of taken over, you know, bias take here. But it's, it sounds a lot like Robinhood. I mean, everything from the AI, you know, portfolio manager, you know, and, and kind of, you know, it is, it's like, I know obviously Brian Armstrong's done events and live, you know, live streams, I'm sure, before, but that whole setup there is very similar to what Robin Hood's been doing like every quarter now for, for a while and for their big announcements and whatnot. So there, there's, you know, there's room for multiple people in the space for sure. I definitely don't think Coinbase is going anywhere, but I, I will say I think it's harder. Like you originally went to Coinbase for crypto, right? It was, it was, you know, where I first went to go, you know, start buying multiple cryptos and all that stuff, you know, way back in the day. So I understand the concept. I just think if you, you think, like when I think Coinbase, I think crypto Robinhood started as just kind of like, all right, the online app brokerage and then the GameStop thing. And it was kind of like a gambling in a sense. You were going there for more leverage and options. And then it's kind of, it feels like maybe Robinhood is like grown up with, with its, its users in a way and matured with them in a way while still offering, you know, crypto and you know, all types of leverage and all that stuff. But it feels like if you can get somebody hooked on their UI and it's a good experience, like your users are growing up with you and you're doing multiple things. Whereas Coinbase, it felt like it was always like, well, Coinbase is my crypto only account. And then to kind of get them now into stocks and stuff. I think, I think there's a little bit like it better be a great experience, a great ui because I just think the, you know, the bar, the barrier to entry is going to be a little bit higher. Whereas Robinhood is kind of always just offered everything to begin with.

Brian (31:45)

Sounds like a guy who bought Robinhood stock in the teens. That's what I, that's what that sounds.

Thibaut (31:49)

I was nice.

Brian (31:50)

I was nine.

Thibaut (31:51)

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Brian (33:00)

We're going to see a lot of these apps. I think Gemini is going to roll something out similar as well. They're going to have a prediction market. They're going to have stocks, they're going to have equity. I think we'll have a lot of players in the space. Space. I agree with you. Kind of Robin Hood paved the way for this vision. Coinbase is, is unique as well because they have what they hold. They're the custodian. Custodian for a ton of ETFs. They hold a lot of the cryptos for a lot of these EFT holders. So there's going to be a lot of players in this space and I think that a lot of them can be very, very successful. I agree with you. It does feel like Robin Hood kind of started this off and, and kind of gave us that appetite there for what they're building is an everything app. But we're going to see a lot of these companies roll out and do this. But overall, what this all points to is a bullish case for crypto and blockchain in on train on chain trading to succeed. We're finally right, what's it going to be like? We're going to Q2, what we're going to have 247 stock trading. It's about time. I think that's.

Thibaut (34:04)

Yeah.

Brian (34:04)

A technical standpoint or technology standpoint. We've been able to do that for, for a long time.

Thibaut (34:10)

Yeah. And, and again, I love Coinbase Bullish Coinbase. I think what you just said, I want them to focus even more on, on real world use cases for blockchain. And you know, obviously we all love Bass and integrating Bass and working inside the ecosystem to, to be a part of this and I think that's where the leadership of, of, of him and Vlad and, and all those top CEOs that, that are pro crypto will be doing for, for many, many years to come. So super exciting from Coinbase, obviously we have a ton of their people on, from all different. We had Coinbase Ventures recently, Coinbase Echo recently. They're building so many cool things and they're on the forefront of that, you know, bridging real world use cases. So a lot of more fun stuff from Coinbase to go. The link is bringing up an ad here, but you want to touch on the DraftKings release for their prediction markets app. Brian?

Brian (35:02)

Oh yeah, yeah, that might have been the link I shared is a little bit fire or walled up, but essentially we've been talking about prediction markets on every single rundown. Joe and I talk about it all the time. We have Vlad from Robinhood just recently calling it a prediction market super cycle for good reason because everybody's talking about Prediction markets recently and DraftKings shout out old employer. We knew it was gonna happen eventually that they were gonna be interested in prediction markets for a plethora of reasons that they get access to all 50 states, they get contracts to everything for other things other than sports. And they rolled out prediction markets. Now they have a whole new app, DraftKings prediction markets and they're gonna rival what Polymarket is doing out there. And again, it kind of feels like everybody and their mother right now is coming out with a prediction market. There's going to be a few that succeed but again, prediction markets are not going anywhere.

Thibaut (36:02)

Yeah. And you know I have, I'm a hot take connoisseur as you know. I think that DraftKings is a little late. A little late and I know that there's legal reasons behind it but having having it have to be a separate app I think is going to be a huge hurdle for them. I think what could be exciting, I think where they do have a leg up and calcium polymarket are doing this trying to hire our market slash partner with different creatives. Obviously DraftKings has a huge reach which is Gant with its gambling content creators, the huge deal with Barstool. So can you get the Dave Portnoy's and the big cats of the world into this type of stuff? Possibly. I think it'll be a huge initiative for sure and so that maybe that's a good way to get the marketing to get, you know, people to download the app. But I, I think and it goes back to my analogy that I said on this show many times that this is going to be like the gambling app when, when you know, everybody had a gambling app. You know, obviously Pen failed and you know it failed with Barstool, they failed with ESPN. I pen spent like $2 billion and has no gambling app. Ryan like just the money's disappeared. I guess it's, it's, it's actually in, in the Florida Keys with Dave's new beautiful house there. But yeah, the pen Penn lost that race but DraftKings won that one. Right? DraftKings is the king, if you will in FanDuel 2 up top. So now this whole thing, it's an interesting, I think it's really interesting how it was a spend to the bottom for gambling apps and DraftKings and FanDuel1. And then this prediction market super cycles basically come out of nowhere and is now coming at them on a different angle which I just, I find fascinating just from a business perspective.

Brian (37:48)

But yeah, you know, sorry, you Called out Portnoy, though. And I, I know one of the first tweets I saw was Portnoy actually saying everyone used DraftKings prediction app, especially here in Florida. And yeah, it was just interesting to see him call that out.

Thibaut (38:05)

No, because, you know, obviously when he's in Florida, like myself, it's. It's Hard Rock Bet only. And Hard Rock Bet's not really a great experience, to be quite honest. Unless they want to sponsor the pot. If they do, I can. I love Hard Rock bat if they don't. I don't like Hard Rock Bet, of course. But, yeah, not. Not the best experience, sports betting wise. So, yeah, you maybe download. Maybe I'm going to be a draft. Who knows? Maybe I'm a DraftKings prediction market guy. Sooner or later, who knows? But I think just. Just to kind of move on. I have some quick hitters here, some government quick hitters, if you will. Let me see, where's Riverside here? Got lost in the sauce here on the producer end. Some government quick hitters. David Sachs. David Sachs kind of threw out a tweet. I think I might have it. I lost it here. There we go. David Sacks. David Sachs kind of thanking some people in government and basically saying that, you know, the Clarity act is coming. The vote for the Clarity act is coming up in January, looking for it to be confirmed. We think that as a, as a team and as a community, I think I've heard, you know, kind of Bryce talk about it a lot, is once the Clarity act does get passed, it kind of green lights, obviously a lot more stablecoin usage and kind of can kind of give it the green light for a lot more liquidity to get into the crypto ecosystem, which we think is bullish for Bitcoin and Ethereum. Is that. Is that something you agree with Brian, or kind of have a take on? The Clarity act passing is bullish.

Brian (39:36)

Yeah. Of course. It's designed to clearly define when crypto assets are securities versus commodities. It gives builders, it gives investors, it gives institutions clear regulatory rules instead of the enforcement by lawsuit type of vibe. So when we get more clarity, hence the Clarity act, when we get more regulatory rules, it's going to make more institutions, more builders, more people attracted. So I think it's actually one of the bigger catalysts we're going to see in the year 2026, and it could help us get us out of these choppy waters.

Thibaut (40:09)

Yeah. And then before, before we move on to our next quick hit, I want to give a shout out to the chat we got Danny from Maple Valley, Washington. Frank. No, sorry, Frank's. That's the lane. Amy. Amy's from New Jersey. Arizona, Bob. Arizona, Bob. Happy holidays to all. Thank you, Bob. And then we got a couple questions, which we'll get to at the end. So if you're on the live and you haven't, give us a thumbs up. If you're new, bottom right, hit the logo to subscribe and drop in your questions. We'll get to those at the. At the end of the program. But our next quick hitter is. I saw. I thought this was interesting. Kind of came out of nowhere. Senator Loomis, Cynthia Loomis is going to retire. She was one of the first really active kind of voices on. On Twitter. I thought of crypto Twitter to be really pro bitcoin and to be at all the conferences and kind of rallying a lot of troops. So we thank her for her service, but I think it's interesting that she's. She's tapping out. Do we see her going. She going to be at the board of Gemini soon enough? You know, what, What. What private job she going to be taking, you think?

Brian (41:12)

No joke. Whenever I saw that on the sheet and I was like, ah. I saw it trending, I was like, that's a bummer because she's been pushing so hard. And then I was like, it's only a matter of time until she has a seat at the Coinbase table.

Thibaut (41:25)

Yeah, no doubt, no doubt in my mind. I think she'll still be well involved in the industry, unless she just wants to ride off into the sunset in Wyoming, which I'm sure is a beautiful place of her home state. And then again, we mentioned this before, but all eyes are on the announcement for the new Fed chair. I was trading it on the prediction markets. I did actually really well, right? I. I got the. I had the. I was trading. I was. I was kind of using the prediction markets to its full potential because I bought something. I saw a tweet that he was going to announce it before the end of the year, bought that really quick, it shot up. I ended up trading out of that because I saw that it was. Kevin Hassett, had an interview and he kind of gave a little, like, yeah, I'm a front runner. So I put it on him. His odds shot up. And then I was like, oh, man. I just, you know, I did the right thing. I sold out of this, bought that, and then I ended up selling out of that as well. And both those trades ended up falling apart and went to zero. So that was the right way to use those prediction markets because I got out of them, which was good because we all know I've had some, had a couple losers as well on the way when trying to figure this stuff out. But always fun, always fun when dabbling the prediction markets. But new Fed chair, I think I saw something today actually he's going to announce at the first week of January, Brian. And then the race is kind of heated up. Originally it was Hasset was out in the lead and now it's kind of tied between him and another and I think there's a third in there as well.

Brian (42:48)

Yeah, I mean that's, that's gonna be a big announcement as well. Trump's hand picking another Fed chair. He picked Powell, right? Trump. Trump.

Thibaut (42:55)

Yeah, yeah, yeah.

Brian (42:57)

Okay. Just clarifying it because he absolutely attacks that guy on a non stop basis. But you, you, you know the next Fed chair is gonna be pretty pro Trump and what Trump wants right now are more rate cuts. So I think that's going to be an interesting call out come the first week of January.

Thibaut (43:16)

Yeah, that's definitely going to be something to watch for and, and kind of something that I've seen kind of tradfi talk about now is really interesting. So there's, there's kind of been this narrative that the new Fed chair is going to come in and slash rates because that's what Trump wants. I've actually seen a counterpoint of that is that the market always tests a new Fed share. I, I don't have the charts with me. Maybe it's something we could try and find for early in the year, but it was, it was something about each time a new Fed chair is instated so not only being named, but after they get named it takes, you know, a couple months I believe to go through the process, confirm them and get them into the job. But there was a stat of how the market, every new Fed chair that comes in within the first year, the market quote unquote, tests them to see what type of Fed put there is. So that's not a bullish, bullish argument for the markets as a whole with a new Fed chair necessarily coming in. So I thought that was interesting kind of stat. I'll see if I can dig up some stuff for earlier in the new year with some charts around that to showcase that. That wouldn't be for bitcoin specifically, that would be for more of the S P500. But let's do it. Let's, let's end the show. We got, we got Brian here in the holidays. Brian's our momentum money makers with Joe. That's the two legends in the, in the crypto trenches as we like to call. So he's going to give us some, some meme coin news, some updates. They've been giving out winners left and right going into the end of the year even though bitcoin hasn't treated us well. So down in the, down in the description, I put a link if you're interested. I think it's like, I think it's a three dollar trial or one dollar trial or something for momentum moneymakers. So if you're interested in joining Brian and Joan, getting the first alerts for these trades that they do, check the description below. Brian, what do you got for us today?

Brian (44:55)

Yeah, I, I think what did we put on the sheet here? The 6, 7 coin. Huh? This is.

Thibaut (45:03)

Perfect for the holiday season though. Perfect for the holiday season because everybody's going home. I got my little cousins I'm gonna go see later today. They're gonna be hitting me with the 6, 7 all night.

Brian (45:12)

I'm sure it's non stop, man. My kids, I got four kids and if I, if I say anything, we were watching football yesterday, the score was seven, nothing. Somebody, then somebody scored a touchdown, went six, seven. Three of my four kids ran in. They go six, seven, six, seven, six, seven. And as ridiculous as it is, it is just absolutely one of the most memeable things. Now did you see that women's college basketball game where the score was like 64? Yeah, 64 to something. The coach goes, you better make the three.

Thibaut (45:49)

And it was like at least one of them. There's multiple ones, but there's one that was like a field trip for kids. So the whole stadium was filled with, with like, you know, middle school age kids and they went absolutely nuts.

Brian (46:01)

Yeah. And there was a Christmas show I saw, it's trending out there where these kids were doing Christmas carols and they sang this whole song around six, seven. Well, where I'm going with this is it six, seven actually hit a pretty interesting metric. If this was January of last year, this is a multi billion dollar meme coin and we're all probably getting rich because it's going up only.

Thibaut (46:26)

Yeah, I agree with that. I think if this happened. No, I just, I totally agree with what you just said. I was like, this is one of those things that if it happened, you know, January last year or this year, earlier in January, I think this thing would have flew.

Brian (46:39)

Yeah, it would absolutely smash. But with that all Being said, it's still trading 25 million dollar meme coin in a market where it's. There's not a lot of hot meme coins out there. So it's certainly on my short list to keep an eye on. Just because as this lore continues to grow around 6, 7, you either love it, you could love it, you could hate it. No matter what, it doesn't feel like it's going anywhere. It's just literal brain rot. And we've all had our own fair share of brain rot. Whenever I was a kid, I used to scream your mom at people and or what's up? From the tv, from the TV commercials. It's. Every generation has it. This is six seven. For some reason is it right now. So it's an interesting meme coin to keep our eyes on because if it continues to grind upwards it could, it could be bullish for the trenches. So it's something I'm watching.

Thibaut (47:37)

Yeah, no, you guys are, you know, always first alert in your trench. Your trench watching has been second to none this year alone. Obviously the year started out hot and you guys had winners left and right. But even in the back end of the year, you guys are still picking some good ones. So if you're interested in Momentum money makers again, check that link below to get more information about how you get those first alerts from Brian. Any anything else to wrap the show and then the last thing, Brian, I have one more here and then we'll do some questions. So if you have some questions, throw them in. I saw Ted from Jax. He's saying go Jags. My got a playoff run from the Jags this year. They're looking, they look good. They look good. They're gonna have to run into Mac Jones up in New England. So not sure. But Ted, thanks for joining us and anybody that has any questions. I saw we had one from Robert. We'll get to that. If anybody else has one before we end the show, hop in. Last call for questions. But Brian, what was. See Wrecked. You got you. I know you love Wrecked Wrecked rewards in stores right now.

Brian (48:33)

Yeah, you know, it's some interesting announcements there. With Wrecked, it sounds like you're. You're gonna be able to buy the wrecked in Giant Eagle. I'm from the Pittsburgh area, so everybody out there knows Giant Eagle and you'll be able to actually claim these rewards. So it's gonna be interesting how this world of these brand coins, you go in, you buy a physical product, you can go out and you can claim the coin. So I'm still pretty bullish on Wrecked overall. I got the wrecked hat and I have to, not to correct you, but I have to make a call out. Mac Jones is no longer. It is Drake. May the savior Drake.

Thibaut (49:10)

Brady Drake. No, it's, it's the correct, it's the correct call out. It's the correct call out. Sorry. Early, early day here on a Monday. Got the flight. I'm not in my, I'm not in my thing and I don't do sports media anymore. So I, I guess that's a mistake. I'll have to, I'll have to own. But yeah, Drake. Man, that Drake may do. That guy's throwing darts last night. Darts.

Brian (49:30)

He looked, he looks good. And then Trevor Lawrence. Who was it that said Ted from Jackson. They look good. I've, I've kind of hated on Trevor Lawrence over the past few years and I think everybody out there has. But he's looked good. His game yesterday was great. So just pivoting a little bit to sports. It doesn't feel like there's any clear cut winner out there for a, a Super bowl winner out there. So it's anybody's ball game right now and it could be anybody and they're as good as anybody.

Thibaut (50:01)

Yeah, no doubt. We'll, maybe we'll get some prediction market football talk going once the playoffs hit. But we had a question from, let's see, Robert. Are you concerned about Morgan Stanley preventing crypto collecting companies such as mstr? So I guess he's referring to not just offering the stock but that msci, you know, including in the, in kind of the passive flows of if you're included in, you know, the, the NASDAQ 100, the NASDAQ 200-00, the SB500. I personally, I think it's, if they did get banned, it would be a big drawdown specifically for that stock. For the overall narrative. I, I'm personally not concerned. I mean it could be one of those things where it gets a life of its own for, for some type of drawdown. But I, I don't think. I, I think it would be an easy buy the dip opportunity for me personally if that was the only news around it.

Brian (50:57)

Yeah, I, I think that's a pretty good call out. Wall Street's not anti Bitcoin. It's, it's like pro structure and the structure currently favors like ETFs over these crypto heavy operating companies right now. But I wouldn't, I wouldn't be overly concerned. We'll, we'll see how that shakes out. But it would, it would cause the price to go down if that was, if there was an announcement there, for sure.

Thibaut (51:20)

Yeah. And we, we've talked about MicroStrategy and obviously Michael Saylor, friend of the program, has done a ton of stuff for the, I call it The Alchemy of MicroStrategy. Just all their offerings is like, really confusing. It's, it's too confusing for me to really understand all those different derivative plays and the, the yield bearing plays and all the stuff that they do offer. He calls himself a bitcoin operating company and they have a ton of offerings now and they started raising cash for their yield bearing products and it has gotten a little crazy, whereas at least for now, and things could change but like a bit mine. BMNR is just like, hey, we're stacking eth. We're not selling it, we're going to stake it. And that staking is going to, you know, that's, it's an easier process to kind of understand. So specifically for mstr, there seems to be a lot more going on underneath the hood, which could give maybe a little bit more scrutiny around it. Right. Because, you know, there's just a lot going on underneath that umbrella. So something to watch. But again, you shouldn't, you shouldn't have all, you know, and that's not personal financial advice for anybody ever on the show. But, you know, you shouldn't have all your, your eggs in one basket, no matter what it is, whether it's mstr, you know, or IBIT or BMNR or anything. So, you know, that's kind of what we preach here is kind of understanding what you own and planning your trades and trading your plans. So that was the only true question we got, except, let's see, East Coast Lobster saying that Larry Fink wants to buy, put everything on the blockchain, own all the bitcoin, and he's gonna, you know, Charles Schwab, everybody's gonna own everything and we own nothing. So yes, that is some, some, at least some quotes we've seen running around on the Internet is you'll, you'll own nothing and be happy is the New World Order is trying to, to tweet that out sometimes. So own your hard assets and understand what you own. But, Brian, any final thoughts for the people heading into the holiday week? Here it is Monday, December 22nd. This is going to be our last live for the year, so we appreciate everybody tuning in. I wanted to give you a chance to, to say goodbye to everybody and thank them this holiday season.

Brian (53:26)

Yeah, I mean, it's been an interesting year, that's for sure. We, we saw some major wins in the crypto world, major adoptions into institutions and smart money's flowing in. Like we always say on the program, you, you certainly want to zoom out, especially in these volatile times, but nothing fundamentally is broken here. I am personally as bullish as ever. I'm starting to continuously dollar cost average in and I think 2026 is going to be an absolute ripper of a time for crypto. We're all going to absolutely love it and to be very happy the direction we're moving in. But with that all being said, if you, if you're starting to feel some pressure out there, you know, maybe, maybe peel away from, you know, crypto, Twitter and don't get too wrapped up into the charts or the price action right now because I do believe we're going to chop for a couple more weeks. Things could get funky, but there's tons of bullish things happening like the Clarity act. The administration could go on and on, but just happy that everyone's out here learning, wanting to be involved in the crypto space with us and it's a blast.

Thibaut (54:32)

Yeah, it's been really fun to get the Spotify wraps and the DM that I shared for Mick from Australia earlier. Just a lot of participation from the community. The show has grown and we, we can't do that without you guys. So just a full heartfelt thank you of, you know, tuning in. Even when the price action goes down, we still have our core listeners that we know we'll be celebrating with when we get back to the top and get back to those all time highs. And that's when, you know, the listenership really doubles and triples and quadruples. And I always say, like, hey, I see the numbers, I see that you guys are going away when the price action goes down. But this is where you learn, this is, is where the volatility gives you the opportunity and you make those, you know, hopefully life changing decisions in a good way that, that get your portfolio on the, on the better side of, of being and picking winners. But we really appreciate it. You guys have helping the show and grow and you've made it fun for all of us from Bryce to Brendan to Joe, Brian and even Rohit when he comes on. We all really do. Thank you. And me as the producer of this show, I can't thank you guys enough for tuning in. So I hope everybody has had a, or going to have a great holiday season these next couple weeks. Merry Christmas. Happy Hanukkah, Happy Kwanzaa, and Happy New Year to you all. We really appreciate it and we're going to talk to you guys soon. But for now, that's all. Goodbye everybody.

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