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Is The CLARITY ACT dead? #CryptoTownHall - The Wolf Of All Streets | Wave AI Podcast Notes

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Is The CLARITY ACT dead? #CryptoTownHall

The Wolf Of All Streets

Thu Jan 15 2026

Summary

Podcast Summary: The Wolf Of All Streets

Episode: Is The CLARITY ACT dead? #CryptoTownHall
Host: Scott Melker
Date: January 15, 2026

Main Theme

This episode of “Crypto Town Hall” dives deep into the political drama unfolding around the U.S. Clarity Act—a highly anticipated piece of crypto regulation—focusing on its indefinite postponement. The conversation centers on why the bill stalled, the influence of banking and crypto lobbies in Washington, Coinbase’s sudden withdrawal of support, and what this all means for stablecoins, tokenized equities, DeFi, and broader market innovation.

Key Discussion Points & Insights

1. The Demise of the Clarity Act

Immediate Status: The Clarity Act’s markup was postponed indefinitely after Coinbase publicly pulled support for its current form. (A at 00:36)
Political Power Plays: Panelists identified the Senate’s banking lobby as influential in killing the bill, citing direct financial interests and entrenched parties blocking reform.

“This is the clear, and I mean clear proof that the banking lobby’s money is controlling the Senate.” (B, 01:15)
Coinbase’s Influence: Coinbase’s CEO Brian Armstrong’s single X post (tweet) appeared to halt the legislative process almost instantly, demonstrating the emerging strength of the crypto lobby.

“Within an hour of Brian Armstrong’s post...they have essentially paused the scheduled amendment hearing today.” (C, 11:38)

2. Major Contentious Provisions in the Bill

Stablecoin Yield: Regulations would effectively grant banks a stranglehold on interest payments, severely restricting competitors like Coinbase who want to offer user rewards. (A, 03:33)
Tokenized Equities: Language introduced at the last minute created what some described as a de facto ban on tokenizing equities—directly stifling innovation in this area.

“A de facto ban on tokenized equities... that was not language that they saw until within the last week.” (A, 03:53)
DeFi & Privacy: The bill included provisions allowing the government broad access to financial data, sparking alarm about privacy and the practical impossibility of cross-the-board KYC in DeFi.
Authority Battles: The measure would erode the CFTC’s role, making innovation subservient to the SEC, and reigniting debate about optimal regulatory oversight.

“It really is not just about stablecoins...these issues are things that the politicians are so deeply entrenched on.” (A, 04:56)

3. Banks vs. Crypto: The Lobbying Tug-of-War

Why Banks Oppose Tokenization: Allowing on-chain equities would introduce transparent, competitive markets in areas like stock loans, threatening legacy banking profits.

“Once you have everything that is tokenized it immediately introduces competition...the extraordinary profits that are being made goes away.” (B, 07:01)
Protectionism Accusations: Banks want to maintain their dominance—especially in rewards and yield—to avoid losing deposits or market share to crypto innovators.
A Paradigm Shift? For the first time, a single “crypto” company (Coinbase) disrupted legislative proceedings, marking a possible power shift away from tradfi domination.

“This is actually, in the end, a positive thing for the crypto sector...the legislative process has to take the crypto lobby serious.” (C, 11:49)

4. Diverging Crypto Voices

While Coinbase withdrew support, others (Kraken, Ripple, A16z) continued to back some form of the bill, suggesting that group consensus is elusive.

“...there are a number of others who have actually supported this bill.” (D, 13:14)

5. Market Implications

Muted Price Reaction: Despite the legislative drama, bitcoin and large-cap crypto markets barely blinked, signaling perhaps the outcome was already priced in.

“If you look at the price action from yesterday, Bitcoin had a phenomenal day...I think some of this was already priced in.” (G, 19:40)
Macro View: The panel noted the banking sector’s influence extends far beyond crypto, leveraging its Treasury and MBS holdings as political capital.
No Immediate Catastrophe: Some expect the bill’s core ideas—or at least major issues like yield and tokenized equities—will reemerge in a scaled-back, more palatable form post-election cycles.

6. Reflections on U.S. Regulatory Process

Staffer-Driven Outcomes: Multiple speakers highlighted how legislative details are frequently hammered out by staff and lobbyists—often with little real lawmaker scrutiny.

“The staffers are the key … the trick to all of this is crystallizing issues.” (B, 17:48)
Election-Year Dynamics: With the midterms looming, some suggest both parties are maneuvering to blame the other, weaponizing crypto as a wedge issue.

7. Broader Tech vs. Power Structures Story

The fight between innovative technologies and incumbent power mirrors historic patterns (e.g., cars vs. horse-drawn carriages).

“This is a story of technology displacing power structures of the old system, moving to a new system.” (E, 15:00)

Notable Quotes & Memorable Moments

On the influence of banking lobby:
“It is not possible to make the argument that banks should be subsidized over $100 billion a year at the direct expense of the average American consumer...” (B, 01:47)
On last-minute language banning tokenized equities:
“That was not language that they saw until within the last week.” (A, 03:53)
On Coinbase's emerging political sway:
“Within minutes, or let’s say within an hour of Brian Armstrong's post…they have essentially paused the scheduled amendment hearing today.” (C, 11:38)
On the nature of compromise in regulatory change:
“A good compromise is when everybody leaves a little bit unhappy and moving forward.” (E, 32:10)
Market optimism—despite the bill's failure:
“I’m generally bullish, too. It’s just not because of Clarity.” (A, 37:31)
On bitcoin’s independence from legislative drama:
“As far as bitcoin is concerned, I don’t think clarity has a whole lot to do with bitcoin. Most of clarity has to do with opening up the plumbing for the rest of crypto.” (B, 29:28)

Key Timestamps

00:36 — Clarity Act’s indefinite postponement; Coinbase withdraws support.
01:15 — Panelist B on the banking lobby’s stranglehold in the Senate.
03:33 — Host Scott Melker outlines bill concerns: stablecoin yield, tokenized equity ban, privacy erosion, CFTC vs. SEC.
07:01 — B: Legacy market structure, stock loan, and why tokenization is a threat.
11:38 — C: Coinbase’s power; observations about the emergent strength of the crypto lobby.
13:14 — D: Some in the industry still support the bill; Coinbase’s unique clout.
15:00 — E: Comparison to tech displacement in history; broader implications for DeFi and democratization.
19:40 — G: Market shrugged at news; analysis of bank lobbying leverage.
21:25 — A: Recap of political arguments (e.g., anti-crypto Democrats using misleading bank failures).
27:50 — A: Transition to market analysis, including bitcoin’s move in the wake of the legislative news.
29:28 — B: Clarifying bitcoin’s regulatory context; spot BTC and CFTC.
32:10 — E: On compromise and moving regulation forward.
37:31 — A: General bullishness on crypto, but not because of the Clarity Act.

Overall Tone & Takeaways

The tone is frank, occasionally frustrated, but ultimately optimistic about crypto’s future influence and the inevitability of regulatory progress, even if not via the Clarity Act’s current form. The speakers blend technical market know-how with deep political skepticism, offering a picture of an industry maturing—both in terms of its market footprint and its political muscle.

Original language example:
“Sorry for the diatribe, but I’m pissed off.” (B, 08:46)

Useful for listeners:
This summary covers the bill’s collapse, the lobbying power struggle, what was really at stake in the legislation, and how little it actually rattled crypto markets. The episode is essential listening (or reading) for anyone following the intersection of U.S. regulation and digital assets, or seeking insight into how power and technology are colliding in this new financial frontier.

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Transcript

A (0:00)

Good morning, everybody. Welcome to Crypto Town hall every weekday here on X at 10:15am Eastern Standard Time. As usual, we have quite a lot to talk about, but nothing bigger than the postponed indefinitely markup of the Clarity Act. Of course, that was in advance of the markup from the Ag Committee, which was still a couple weeks away. But the biggest news surrounding the Clarity act obviously, is Coinbase very definitively pulling their support for the current iteration of the bill. Before we unpack all this, we do have an awesome sponsor today, which is Zero G can tell you a bit about them. AI is reshaping the world, but right now it's stuck in the hands of just a few big players. But what if AI can run openly, verifiably and on chain? That's what Zero G is building. The world's first decentralized AI operating system, open to everyone. Imagine a network where you don't just trade tokens, you train, store and run independent AI models at scale. No lock ins, black boxes, single point of failure. Just quick, cost effective, auditable AI that anyone can build. If you believe the future of AI should be a public good, not another corporate monopoly, join us at 0g.AI. That's the number. 0g AI. Now, moving on to the topic of the day, is the Clarity act dead? Yes, it's completely dead. What else should we talk about? That's it.

B (1:15)

Perfect. There's so many things in here, but I think that if you reduce it to its most basic form, this is the clear, and I mean clear proof that the banking lobby's money is controlling the Senate. And it is something that from. If I was sitting in the White House, I would be bathing the living crap out of Tim Scott right now. I mean, this is the sort of thing that, you know, it's one thing for arguing about AML and KYC on defi and how you want to control the rails. It's a very complicated system. You know Austin Campbell, who is too bad I don't see him on the list here, he would be great today, you know, unpack this a few days ago. There are issues that are complicated, issues that are difficult, that you can understand that smart people and people of good moral fiber could have arguments over. It is not possible to make the argument that banks should be subsidized over $100 billion a year at the direct expense of the average American consumer and have make that argument that this is somehow a good thing without ever looking at the data. Because the data shows that that's not true. And if I'm sitting in the White House and I know. And the same human being, Donald Trump, who's claiming that he wants to the individuals with some dumb ideas like capping credit card interest below, you know, at levels that frankly, you know, Michael Saylor's paying higher interest to buy Bitcoin. So, you know, though that level is insane. You would think that from a populist perspective, a, a act that would literally take a hundred plus billion dollars a year and put it in the hands of people other than the banks would be something that's obvious, yet that here we are and that is what's going on here. And so yes, you know, Coinbase looks at this and says, no, honestly, Coinbase has a huge vested interest here. So ordinarily I would look at this and say, well, maybe this is because it's their vested interest that they don't like it, but I don't think that's the case here.

B (5:37)

But, but I want to be very clear about something Scott. The reason that there's a ban on tokenized equities in here in the fine print is because the banks are the ones who control the equity market. And the last thing they want held DTCC is less. Who actually does handle the back end right now, you know, they, they're not lobbying against it but you're seeing the big banks because once you have, and this is the point that they, that people need to understand and maybe we, we can make it obvious to the politicians. Once you have everything that is tokenized it immediately introduces competition into every nook and cranny of the financing businesses that permeate Wall Street. So let's just give a simple example so people know what the hell I'm talking about. Imagine right now there's a market I'm going to pick on a really simple one. Stock loan. It's a multi billion dollars in profit. So we're not talking about small numbers. It is controlled almost completely by the large prime brokers or Gerald Banks. The banking lobby is primary interest. If you are a lender, that is you are a fund and you have and you control a lot of equities, you get a percentage of the stock loan revenue made by the prime brokers around 10%. At the same time if you're a borrower you're paying a fee that, that is effectively set by an oligopoly. So the fee you're paying is, is much higher. At the same time there's this structure of locate and borrow within the system that creates all sorts of pathologies. Two that are obvious. One, it allows for what some people will call naked short selling because once you do a locate you don't necessarily have to find it. And guess who Doles out the ability to do that. It's the prime brokers. The second pathology is it means that larger hedge funds or funds that pay more fees have a much huge competitive advantage in sourcing borrows. And so the arbitrage mechanisms are broken and the banks make more money. It is, you could see how all that that exists now. The instant tokenization happens and you can have tokenized equities. There is no longer locate and then borrow because effectively you're going to have to source it. It's going to be in real time and it's there just like crypto is. Well, that means no favoritism anymore. Plus you get full transparency on what the price that it costs to lend or borrow. And that will introduce competition, meaning that the economic rent, the, the extraordinary profits that are being made goes away that same. So that's what tokenization does. And that's why Paul Atkins is so bullish on it, because it is massively bullish for the overall users of the equity market. It is massively bearish for the people who are the current gatekeepers that are making profits. That same sort of analysis could be done on a ton of other businesses from interest rate swaps to. I mean you could go on and on. We're talking trillions in businesses. That is why the banking lobby is pushing so hard. So when I talk about the banking lobby, yes, stablecoins is part of it. It is not all of it. That's why I made that point. So I'm sorry for the diatribe, but I'm pissed off.

C (8:53)

Okay, so yes, disappointed. I think what was jammed in in these amendments is definitely a full blown attack on defi and privacy. Unacceptable. What was jammed in with respect to adding an extra hurdle to the tokenization of assets that will already have gone through the full SEC scrutiny and qualified as securities. To now require this additional layer to tokenize an asset is clearly a unnecessary hurdle that's being implemented to stifle growth in the sector and that clearly hurts Coinbase's primary bags because they want to jump into this space and they are a for profit corporation that answers to stockholders. I've been very vocal about the fact that banks are really pushing hard to protect themselves in the aftermath of the Genius act and to force Congress to in a backdoor effort not amend the Genius act or rewrite the Genius act, which is not going to happen. But now trying to do a stealth rewrite of the genius act through clarity, so that they can maintain a monopoly on this notion of rewards and yield because they're terrified they're going to lose deposits, and it's just strictly protectionism. Now, I would love to put up in the nest something that I put together today, which was kind of my thoughts and impressions on this, which is that I think this is actually an interesting change in the paradigm here, because this is clearly a battle between the banks and the TRADFI sector and what we now can conclude is the crypto lobby and the fact that one company, one company in one X post from the CEO was able to completely shut down the legislative process. Here is an interesting thing that's happening because we've been very well aware of the fact that banks have a strong, strong lobbying influence over the bank sector, over the Banking Committee and over legislators. We know that traditional finance has got a lot of influence, but short of JP Morgan, I can't think of another company that could literally completely shut down the process. I mean, within minutes, or let's say within an hour of Brian Armstrong's post, Scott had paused the scheduled amendment hearing today. They have essentially paused the one that's supposed to happen in agriculture. And now everyone's back to caucus. So I'll close with a positive note. I think that this is actually, in the end, a positive thing for the crypto sector. I know that there are a lot of other adjacent crypto firms like Kraken, that are not happy with Coinbase and how they have derailed this process. However, I think it ultimately confirms that the legislative process has to take the crypto lobby serious and that banks are becoming, I think, a little bit more marginalized in this whole thing. So I remain hopeful. Unfortunately, we have a pause next week for Martin Luther King, so nothing's going to happen then. We're going to revisit and see if the Senate Agriculture Committee and their markup goes forward. I caught your interview with Jake. I thought it was outstanding and he did a great job of covering it. But I think ultimately this reinforces that the crypto sector is a force to be reckoned. And definitely Coinbase has a lot of influence in Washington.

E (15:00)

Sorry. It was on the Wrong mic. Yeah, so there's nothing new here, right? This is a story of technology displacing power structures of the old system, moving to a new system. I mean, you look back at the late 1800s when the cars came out in London and there was regulation for the cars to have a driver, a, a stroker with a flag, somebody had to walk ahead of the car in order for you to be, you know, to have license and to meet regulations to drive that car. Of course, that completely ruined or, or limited the ability to use the car for what it was worth. And a big part of that had to do with people not understanding technology, but also the power structures that were in the horse drawn carriage, you know, sort of ecosystem. Now, looking at crypto, what's shocking to me is, and it's exciting that we're in a place where there's a lot more transparency and discourse on a mass scale with things like X and media and social media and stuff like that. But how, how, how obvious it is of the disproportionate advantages that blockchain is ushering in while simultaneously really shining overwhelming light on the, the, the, the sort of flawed controls that the banking system has had. And those controls also limit, you know, the democratized access to your money of, you know, when it, when it's in a bank because it's, and they're basically profiting off of you and your money. And here we are with the better technology that's faster, more democratized, more people can have access and you can also make money being a liquidity provider and staking things and securing networks. And yet at the same time, it does. I do understand that the, the, the government part of this in that they do worry about the flight from one, one system to the other because it could cause some disruption. But I think we could all agree that we're in a place right now where I think everybody would be okay with a little bit of disruption so we can get to a better system. I hope, especially with Brian Armstrong and some other voices that are up at the top of the helm here, that they do move more quickly than, you know, a five to eight year period to make this happen. Maybe sometime this year. But I'm right there with you, Scott. It's, it's, it's feeling like the, the promises of how effective things are going to be and move. Especially when we have a president and the House and the Senate all with one party, it's kind of surprising to see that in control. I mean, it's kind of surprising to see that they're not very effectively moving forward and getting things done. And it feels like we're in a very limited window. So I would hope that they would get these things sort of sorted out before the midterms, but we'll see.

B (28:39)

I hate that word catalyst because I, I, I, I and you know I, I've said this many times. I think that yes there are sometimes catalysts but more likely the, the rally that, that I believe that Matt Hogan and I were talking about yesterday will be a slow grinding rally that just because the sellers are exhausted and they're still buying demand and that's Bitcoin today. If you look down, you know the, what's going on. I mean Ethereum and Bitcoin are tracking they're almost exactly the same down 1% or a little bit less than that. Almost all of which after the Clarity news got digested. Although Brian Armstrong came out yesterday, there was a dump right at the New York open from 97 down to, you know, below 96. And Ethereum had is almost exactly the same chart. Some others a lot of the other altcoins are getting absolutely hammered down significantly more and that actually Makes sense. And I haven't looked through all the RWA side, but I would imagine that, that people who are banking on that massive TAM coming soon are disappointed today and that that makes sense. I mean, is it, you know, you could say it, whatever. But as far as bitcoin is concerned, I don't think clarity has a whole lot to do with bitcoin. Most of clarity has to do with opening up the plumbing for the rest of crypto. And I think that people will start to see that. I think that however, the, the more the most likely scenario is something gets passed and it just gets scaled back. Right. And we'll see. And so, you know, I'd be really curious what people think about, you know, what will happen and why markets care. Because it explained to me when the SEC and CFTC both this space was downloaded via spacesdown.com visit to download your spaces today say Bitcoin is a commodity. The only difference under clarity is that bitcoin will then be regulated. Its spot bitcoin trading will be regulated by the cftc. Right now there's no regulation on spot bitcoin trading. Okay, good, we got a couple of hands up. Kelly, what do you think?

E (30:42)

I mean, I think, I think the broader market doesn't really have a deep insight on the distinction between bitcoin and crypto. And, and that's kind of a bizarre thing to say. But I think the majority of people out there, I think the impact here is seeing Brian are seeing the bill that was supposed to go, you know, for markup and discussion and Brian Armstrong coming out and posting what he did and, and having it essentially, you know, within hours killed. I think as bizarre as it sounds, I think that's very bullish because it signals a very entrenched and sort of powerful voice within the, the D.C. d.C. Space that has impact there. So the fact that he had issue with this, spoke about it and it wasn't some behind closed door from another source, Brian Armstrong posted and then we saw that that impacted that bill not moving forward. So I think the, the power of the crypto voices in D.C. i think is the bullish signal here. And I do think that we're going to move forward and I, I agree. I think it's going to be scaled back a little bit on both sides from the bank control, but also from everything we want. But everybody knows a good negotiation, a good compromise is when everybody leaves a little bit unhappy and moving forward. But you know, with where we're at right now in price action, I mean I couldn't be more bullish. I think everybody's just so used to looking at the previous cycles and expecting, you know, 25 candles at some point in the cycle and we may get that. But I, I agree with you, Dave. I think it's going to be a slow grind to the up. You know, sideways consolidation. Bore people out again. Continue up. Bore people out again. So right now plan C put out a great chart the other day showing that the previous cycles with these banana zones that we've seen in this cycle kind of being more institutional in some ways, a controlled sort of liftoff that never feels like liftoff. It's just now it's, this is where the, the rubber meets the road, where time in the market beats timing the market. And I think it's going to become more and more true as we, as we move forward. But I do feel like a lot of the OG selling we see it in on chain is starting to, you know, reduce dramatically here. I think that rotation into the institutional class for the most part is probably near done. So I think that controlled move upward is imminent.

F (33:24)

Yep. Yeah. So I look at the market very simplistically. I would just want to point out the stoic example of a disciplined trader is the all the moving averages, 200 days are heading lower and we bounced and it's early in the year and there's a lot of optimism. I see myself as a worthy short bitcoin starting at 94,000. If it closes above a hundred thousand, I'd start worrying in. The 200 day moving average is 106. So if it goes there, people can say I'm stopped out and then we can go down. But to me these are fair markets. The Bloomberg Galaxy Crypto Index 200 day moving average has rolled over. I don't see all the bullishness in markets that have rolled over. Now you can use other formats, but to me this is a stage of the market where you walk into the year and you walk in flat and you look for opportunities. Because my base case for this year is we will see a pickup in stock market volatility. I mean that 180 day volatility now is running around 11% historical average 18 that will go up. It'll give us some opportunities and you look for Opportunities. So for me, so far as an X trader, I look at it, maybe if I'm sitting at a hedge fund, okay, copper just went above 6. Test a short get started. Bitcoin got, got above 94. Test the short get started. Now if we stop out, stop out and reassess, if we start tickling down below those levels, then add to it. And to me that's what's going to happen here is this market is so overdue for that and it's just like saying, just prove the strength, prove me wrong, prove those bear markets are not bear markets. And maybe we can. The key thing like last year was kind of was a great signal. You know, we all knew Michael strategy was, was silly and it gave us a great signal to go down. But it did drop to like a 55 discount to its 200 day moving average. It's got a way oversold bear market, but it is a bear market. And you, you know, we all know what happens in bear markets have short cover, sharp short covering rallies, a lot of false hope. So I think anybody bullish cryptos is, is in false hope mode. You have to have the stock market go up. It's a bear market, it's just started. And to me the downside is much more worthy than the upside and willing to test it at the levels.

D (35:43)

You've seen this very saliently with just poly market odds being placed everywhere and integrating with a number of financial exchanges. You've seen a number of IPOs that are coming up this year, Kraken and a bunch of others. You're seeing real world asset expansion and interest from everything from mortgages to equities and this sort of everything exchange is popping up not only from Coinbase but from Robinhood and a bunch of others. And crypto is sort of fading into the background of a lot of these things. And you're going to start to see folks who want exposure to that and have been sitting on the sidelines. We've been saying this for years, but even silly announcements like you know, bit miner investing 200 million into Mr. Beast and his company now, like there's obviously something there that Mr. Beast is going to start marketing or talking about crypto or having it integrated into his products, and he's the biggest creator in the entire world. So you're just going to continue to see these broader crypto partnerships until crypto just doesn't seem like it's rat poison anymore, and it doesn't seem like it's speculative tech anymore. It just becomes part of, you know, whatever you're doing and whatever you're offering is. So, you know, I'm seeing things like that, and then just the rumblings behind the scenes and, you know, we start debating about these silly things like, you know, kind of, where. Where are we going to get this last push and momentum on, you know, the Clarity Act? You know, it sounds like we all think we'll eventually get there, or, you know, where are we exactly in the market cycle? You know, there's, in my view, at least a very strong impetus for the Trump administration to. To put their gas, put their foot on the pedal throughout this year, notwithstanding all the things they did last year, the big beautiful bill, et cetera. So, I mean, all this means to me is, you know, more and more excitement for this year and 26, and I think we got the washout at the end of 25 that we needed, and, you know, we're going to continue up.

B (37:36)

Yeah, I think that. I think it is. I think silver is something that. I know we're smelting town hall now, but I think understanding where the animal spirits are, the fact today silver is consolidating down like 3% and. And it's consolidating at the 90 level. Two weeks ago, we were talking about silver dropping below the 70 level. So just the magnitude. Now, the reason I mention it is because everyone who says that bitcoin has matured and you won't see volatility anymore is on serious hallucinogens. Now, why do I say that silver is a much larger asset than bitcoin is at these prices, and yet we're seeing 20, 30% moves in a couple of weeks. To think that bitcoin, which is far newer traditionally, has longer, much more volatility measured by weekly and monthly. I mean, to say that bitcoin's going to stay with this lack of volatility, I think is crazy. And that's the important thing, because where Mike and I differ is I think that there's real buying. You know, people like Matt Hogan kind of corroborate that thesis, and the speculators are pretty much aligned on the short side. And when that flips that's when things change. But do I think that it's a worthy short, you know, from a tactical trading point of view if we get that first move to 100? Yeah, I think it fails there. I absolutely do. Do I think that anything at the level it's at now is relevant? No, I don't. 94 was relevant. 96, 97, 98, 99 aren't. And so what you see is lower volume moves on these things. Now as far as the Galaxy Crypto index which is predominantly Bitcoin and Ethereum, I mean look, rollover however you want to look at it, stock market's still at all time highs and corporate profits are projected to go up another double digit this year. So yeah, you may see something that happens that's bad, but you may not. And the endumerism is problematic. But I, I prefer to watch to see what's happening in the stock market. If you start seeing divergent weakness, that's bad. But what have we seen this week? Actually the opposite. The Russell 2000 is the better performer. Right. So you know, to me, you know when you look at markets, you have to look at at all of what's going on and, and frame it in context.

I (43:21)

All right, well, first of all, thanks for having me on. Great to see you again. And Scott, and you know everybody that I know on the spaces, let me tell you what market profit does. So we are a financial technology company and we process X data, them crypto related tweets, actually some stock related tweets as well, speaking of tokenization. But we'll focus on crypto and we, the unique part about what we do is we, we score crypto Twitter accounts that make posts about crypto prices objectively and quantitatively. And by doing that, we treat them as traders and we don't care about social metrics, we don't care about popularity. It's all about just like on Wall street where I grew up. Like many of the speakers here, it's about performance. You either make money or lose money. And you know, how did you make it? That's how we score accounts by taking that approach. What, what winds up happening is you find people and they're on our website and it's free to go to www.marketprofit.com. profit is P R O P H I T. We show leaderboards for thousands of cryptos and what you'll find if you go to our bitcoin page, just type in a ticker, right? Btc you'll find the top three predictors on crypto Twitter and you'll be surprised as who they may be. They, they, they are, they're small accounts, complete unknowns, but they crush it with, you know, speaking about production markets. You know, they're predicting, they're commenting, they're posting, they're putting out sentiment, which we have as well, free sentiment signals. And those accounts are small. Sometimes they're huge too by the way. You know, there are really big, you know, crypto Twitter accounts that are, that crush it, right? For example, give a shout out to Scott, who I know, look him up and he crushes it on crypto Twitter and he is a big account. However, however there are a lot of small accounts and using our unique approach, we surface them, we identify them, we call them out. There are leaderboards and, and, and what we're doing is providing a lot of content and you know, kind of a, you know, an arrow as to where you can find potential alpha as you do research. It's not always the people with the biggest microphone. That is what we do our mission. By doing that, we provide trust to social media. Right. Trust is so important in financial market, any financial market. Who do you trust? How do you trust? Right. And given, you know, all the activity and, you know, and the rug poles and, and, you know, and the volatility too, how do you find the people you trust? So we surface, you know, the small accounts as well, and we don't do it. The, the analytics do it right. You know, the, the, the, the stats speak for themselves. Buzz.

I (52:54)

So that feature is unique and typically actually does not exist in real trade or copy trading, but on, on our platform, market profit, we enable it because, you know, we have the stats, so why not also and, you know, get extra alpha. We have one final feature. You can actually copy any crypto. So let's say you just want to kind of, in a robotic, quantitative way, copy trade. We call it Bitcoin or a meme, coin, anything. That's another feature. What does that mean? Well, there we actually go deep right into, you know, our stats, right? We'll. We don't show all of them for free. We show a lot of data, Buzz, like you said, we have a lot of free data, right, for research, discovery, and also alpha. And there we. We get more than three accounts, right? And if any one of them that, you know, post a prediction, a signal, sentiment, you know, long, short, bullish, bearish. On Bitcoin, we're trading on all those signals. So think of that as the best Bitcoin traders in the world, right? Again, their X accounts are managing your money. That is a, A team of. It's a quantitative hedge fund in your pocket. So that's another feature we have. And I've been on, you know, a couple roundtable shows with you, Buzz, and after this, I'll post the recordings of the shows where I show live results of copy trading, X accounts, inverse copy trading, copying coins. And I can tell you, and I show screenshots on Bybit, who happens to be one of, one of our partners, it crushes it, right? The stats, the execution is, is, you know, really amazing, right, because there's a lot of information that we surface and it's predictive and I can tell you, and we all live through. Speaking of volatility, Dave, what you mentioned, we, you know, we went through like an extraordinarily volatile time. And it was, and I'll, you can see the screenshots, right. I'll post it afterwards. It was nailing tops and bottoms, long, short and especially on the short side as well. And as everybody knows, or many people may not know, it's really hard to be a, you know, a short seller, trader and, and you know, nail markets, right. Very hard. But it was very bounced. Right. And the win loss ratios were really, really excellent. You know, we made money, right? Copy trading made money, for example, on Bitcoin itself through the massive volatility that we experience. And I agree with Dave, right. I think we're just going to be in a really choppy market and retail gets wrecked in volatility. Right. So we are giving hedge fund institutional quality execution to the masses for free. Right. So yeah, that's, that's copy trading. And again, you can copy.

I (57:56)

L w p. Correct. That's correct. And I could even drop the code, I think. Well, yeah, that's the code. So, so yeah, Anybody, by the way, you know, a lot of users that we call out every day, everybody wants to be on the leaderboard. It's hard to become a big account and it's hard to surface, right? Alpha. In fact, I saw a lot of comments buzz to your roundtable posts where people are like, how do we discover? How do I get discovered? Right? It is so hard. We are your, your brain, you know, your prowess, your, your good calls. That's what gets you discovered. We just have a platform that calls you out. It is so hard to make it to the leaderboard, right? So, yeah, that's what. That's. That's another thing that we do, by the way, follow market profit at market profit. P R O P H I T. And you know, we call out every day who nailed some call on some crypto or meme coin long or short. That's also a discovery tool too. There we are constantly, like identifying people and some of them go bananas. So, like, oh my God, you know, I'm a market prophet, right? You know, maybe that's the new word for Kol. You're a market prophet. And they're grateful, right? They're like, wow. And then their followers are, are, you know, supporting them, saying, yeah, this guy nails it. I can't believe an AI smart engine found me. So, you know, go there to find and discover, right? Who's nailing different calls on different crypto. We also post real time, you know, signals, right? What's bullish, what's bearish, what's buzzing. Talk about the fear greed index. We have two fear greed indices for a variety of coins. One is the crowd sentiment, which is your normal, you know, kind of sentiment. And then we have smart money like Scott Melker or like the number one guy for Bitcoin, you know, on our site. And there that's all the smart money signal. So we have two signals, and maybe they agree and maybe they disagree. And when they do, you know, the smart money is picking those tops and bottoms, which is what we execute on, right? We're executing based on smart money.