SPEAKER_01 0:00

Good afternoon. Welcome to Risk On episode 68. We are live here. Brought to you by FOMO. Go check it out. Download their web app. They just tease perps too. It'll be a running a run back of uh what was that thing we all did in Telegram and lost a bunch of money on? Oh, PvP.trade? PvP.trade. We'll do it together. Um I remember money then. PvP.trade was just carnage. Do you guys like remember that?

SPEAKER_00 0:32

Yeah, everyone was saying it was gonna airdrop. No airdrop.

unknown 0:36

No airdrop.

SPEAKER_01 0:37

Instead of farming points, we just died.

SPEAKER_00 0:40

We just gave them money.

SPEAKER_01 0:41

Dude, I think the boogle chat lost uh eight figures in that. Um trying to farm that airdrop.

SPEAKER_00 0:47

Yeah, don't know what world we were considering they were ever gonna airdrop. I feel like people get a gold check mark on on on Twitter. Yeah, they get they they buy that gold check mark and everyone's like legit, get them airdrop. It's a free game there, folks. Get after it.

SPEAKER_01 1:03

Yeah, well, market looks like shit. Sats, you were just spamming pictures from a club in a visa, I don't know, five hours ago.

SPEAKER_00 1:12

Yeah, yeah.

SPEAKER_02 1:13

Um you feeling, buddy.

SPEAKER_00 1:17

Look, I've seen better days. I've seen better days, uh, but we're back, you know, we're back better than ever. Um yeah, I flew home, landed an hour ago, straight back to it, open up the charts, boom, red, red light therapy, like uh Brian Johnson's doing right now with the charts. That's what I'm trying to try. Um the funny thing was when I landed there, I opened up my phone thinking, wow, everything's gonna be sweet and dandy as usual. Boom. Zek down 40%. Bad start already. Like, what the hell happened? I'm I'm hearing rumors of exploits. Oh yeah, a lot has happened since I our last episode. I remember I was literally knee sliding, generationally knee sliding, going, if you don't hold Zek, you're dumb. Um, literally two days later, I come back and I'm destroyed. So that's another thing.

SPEAKER_01 2:11

If you recall last episode, you were knee sliding on me, and I said you're gonna get penetrated.

SPEAKER_00 2:17

I didn't I didn't expect it to happen this fast.

SPEAKER_02 2:20

I knew this was coming. You couldn't even make it five minutes into the show.

SPEAKER_00 2:25

Yeah, I I didn't know it would be this fast, you know. I didn't know it'd be this fashion either. Literally open up your phone, you're down 40% going, what the hell is going on? And I was like, Jesus, I was literally on there going, if you don't own Zach, you don't like you're just not tapped into the privacy.

SPEAKER_01 2:41

Like I was you Gainesy said that you can buy Zek at $700 and retire. The dumbest people you know are all gonna retire off of Zek. Ansom was tweeting $615 Zach equals $615 BTC. You had everybody out there, you had Sats telling everyone it was the future. And what is it, Mythos or Claude Opus 5.8, whatever one of these new updates is, hacked it in what 10 minutes?

SPEAKER_02 3:10

Oh, here goes Wood going tulip just in a bunch of a bunch of 10 minutes. Yeah, why don't you tell us what happened, Wood? Why don't you tell us what happened? And in all seriousness, though, like I I mean we're we missed this on Friday. Like this the time to really dive into this was Friday, but it's almost better to talk about it today because so much happened over the weekend. Like, Zek was dead, it was an asset consensus going to hard zero, and then it survived, and there's still a lot of like a lot of like existential doubt, but things seem to be solidifying a little bit. There was a crazy response from Zek Cabal, then you could call it the technical team that has been like all hands on deck. It's been pretty impressive, and like you see this like recovery where it's surviving. Uh, but I feel like we have to like, I don't know if we're the best people to talk to. We we gotta get into this because it's the biggest story in crypto, and it feels like it's bigger than just Zec almost. It feels like so much hinges on what happens with this for like the industry as a whole.

SPEAKER_00 4:21

So, what's the am I hyperbolizing that or is that real?

SPEAKER_02 4:24

Like, is it real?

SPEAKER_01 4:25

It's very real. I mean, I mean this is at a high level, there was an infinite myth bug that had been live for four years. No computer, no, no human had ever found it before. That's not great. Not not the North Koreans, nobody. And Anthropics Claude found it in like 10 minutes.

SPEAKER_02 4:46

Well, yeah, Z. Yeah, not exactly, not exactly. It was like it was a white hat uh like security audit that they brought in, like a world-class specialist, I forget the guy's name, Tony Horton or something like that. Um, so they the these the Zotal team, which is the former electric coin capital team, specifically contracted this guy and this team for the purpose of looking for things like this. So, to their credit, like they were the ones who went out and were seeking to do the audit to try to find anything like this that could exist.

SPEAKER_01 5:20

They probably didn't expect to find it, but they didn't expect to find a four-year-old infinite mint bug.

SPEAKER_00 5:26

The fact that they were looking is kind of worrying as well.

SPEAKER_01 5:28

Like guys, I mean, what's the saying? Don't ask questions you don't want to don't ask questions you don't want to know the answer to. Yeah, yeah.

SPEAKER_02 5:36

I I think it's important. Like to me, the the back end of this paragraph here is very interesting. Like the fact that they went out and did it, you have this, like the whatever you call it a community, the decentralized governance group. Like the fact that they're organized enough to go out and try to do these types of audits to strengthen the system is very different than like a lot of people always ask, well, why not Monero? Why isn't Monero the top one? It's like something like this actually has happened in the past with Monero, I believe. But um, there's not really an ecosystem in place to do something about it. Like, if this happened on Monero, what would be happening? We'd have probably days or weeks sitting with just the chart doing what Zek did on Friday with no resolution, right? Um, so some people are calling this centralization, like the fact that people came in and are trying to fix the issue, but like it's it's also like some of the smartest minds in the world are working on making sure whatever happens, get happened, gets fixed. Um and the real question, I think, is like it's gonna come out stronger on the other side, where it's way better prepared for any type of like you know, attack vectors, but was it exploited or was it not? They need to verify the circulating funds in this orchard pool.

SPEAKER_00 6:56

Um Yeah, how possible is that?

SPEAKER_02 7:00

What do you mean?

SPEAKER_00 7:01

Are they actually gonna be able to figure out exactly how much has come from this?

SPEAKER_02 7:05

Like they've put a lot of information out there over the last couple of days suggesting that they can. Um I think that's one of the reasons the chart surviving. Um that the problem is this is not the type of thing, it's not, you know, crypto Twitter uh notoriously jittery. You can't do this in three days, right? It's gonna take it's gonna take uh they're actually saying weeks. I think before they were saying months, but like, you know, we're talking July at the earliest that they can finalize this audit, I imagine.

unknown 7:37

Shit.

SPEAKER_01 7:38

It's a bit of an asymmetric bet here because they have the potential to prove nothing ever happened, spin this positively, right?

SPEAKER_02 7:46

Um wait, asymmetric in which direction are you saying?

SPEAKER_00 7:50

Both ways, both ways, yeah. Both ways. You rely on the tweet, you got a 50-50 chance, really.

SPEAKER_01 7:58

Yeah, I mean you kind of like your money can go to absolute zero, though, here. Like if they find that a single coin was minted, like you know, it's probably game over, in my opinion, correct? Right.

SPEAKER_02 8:10

So so now you start to make now we're talking game theory, right? Because what we don't really have a way we can throw out a percentage. I think we know it's very, very unlikely that the that the exploit was discovered and and uh or that the bug was discovered and exploited, because we're beginning to believe there would be evidence of like the pool getting drained, right? But what is that percentage? Like we don't know. Is it is it a 99% chance that it wasn't exploited? Is it a 90% chance? Is it a 60% chance? Um if it was exploited, the thing goes to zero forever. But we're starting to get increasingly confident that this did not happen. So like now we have to question what what is the consensus? Like, let's assume that it gets settled and they confirm that there was no exploit and that the circulating pool is what it was, they do this migration successfully. Then what is the result? Does it mean Zek rips because it's now stronger? Or or is it a muted response? Like, what do you guys think happens in that scenario?

SPEAKER_00 9:18

I think it rips. I think it rips because uh everyone who's who sold like with this overhead risk who didn't want to take it is just gonna jump straight back in if it starts moving like two or three percent. Everyone's gonna shove it all back in. That's what I would do at least, but I'm a complete moron, you know, so and I haven't sold anything.

SPEAKER_01 9:36

As a result of this, I kind of feel like the privacy, the whole like shtick that ZC was running on kind of like is like meh to me now. Like that narrative kind of died a little bit.

SPEAKER_03 9:47

Why is it?

SPEAKER_01 9:47

I just feel like because the narrative of it being this like quantum proof like private money asset just got like crushed.

SPEAKER_02 9:58

Why?

SPEAKER_01 9:58

Like, because I don't understand.

SPEAKER_02 10:00

I'm gonna be honest, I don't understand that take.

SPEAKER_01 10:02

It just feels to me like all the things that it stood for and it could do uh it's potentially not true anymore. Like, we don't know if it's capable of doing all the things that they're saying it's capable of being. Is it truly private? Is it truly a quantum proof? Probably not.

SPEAKER_02 10:22

Uh I you know, I don't, I don't, I'm gonna be honest, I don't follow your logic at all. Like, if they make it through this, it's an old bug that existed, right? If it so it's been it's been patched and they have to like go through this audit. If the audit proves that it was never exploited, it's inarguably strongerly stronger positioned than before because that's been patched, and they basically have done these like these are uh you know, these security audits are meant to like absorb all these new attack vectors that are coming. So it would make it actually much more strongly positioned than any of the other assets. You could decide, okay, I don't want to touch anything. That's yeah, a fair opinion.

SPEAKER_01 11:04

But I'd say it's almost like it, it would, you could say it dodged a bullet, it could have been a disaster, but now that it survived it, it's it's very well positioned because it's it is now more uh I guess what I'm saying is can the narrative survive this time out of the spotlight?

SPEAKER_02 11:23

Like so you're talking from a sentiment perspective, yeah.

SPEAKER_01 11:26

From a sentiment point of view. Like, I'm disinterested in Zec right now because we have this big overhang. It's gonna take time for it to heal and cure. Does the market move on to a different narrative?

SPEAKER_00 11:37

I don't think there is another narrative to move on to. I just I wish there was, but I don't think there is. Like, where are we going from there? Robotics? Are we are we?

SPEAKER_01 11:46

Robotics is what everyone's moved to. The same people showing Zec are now showing robotics, they've already moved, they're done with the dynasty, they're now showing robots.

SPEAKER_02 11:54

There's no real exposure to robotics, though. I know they with Andrew Kang thing, but like um that said, mind share is at an all-time high with Zec. Um it's ironically dominant, like all the perps order book order book volume. It's like after Bitcoin and Ethereum, it's Zach.

SPEAKER_01 12:13

Walk us through the price action side, though, because it did meaningfully bounce, right? Like, why is it bouncing, do we think? Is it per is it is it is it perps driven? Is it truly sentiment driven? Like people are trusting what they're saying.

SPEAKER_02 12:27

Definitely perps driven right now. I think there's a ton of momentum trading happening, um, which is obviously dangerous, but what's interesting, it it it spells out a couple things. It's dangerous both directions. Um, ultimately, what we've seen is like, you know, it had this cascade, everyone panic sold. Then you had a bunch of people both trying to short and long as it kept happening. It you had some news come up, okay. Maybe the exploit didn't happen. And all of a sudden, you know, a ton of spot buying, people reclaiming their positions, all these a lot of the same people, ironically, who you know were calling Zek dead and saying it you have you should never touch it. Go all DeFi's going to zero. And then they all publicly made comments that they bought it all back. Um, but I think what happened then is like now it's grinded back up, and now you have this piling in, and the data supports that you can see everyone is trying to jump in and short it again now. So, like I shared with you guys last night, funding is negative across all 18 or like all the 18 exchanges that are monitored on CoinGlass, like funding is like 10% uh minus 10% or higher, like crazy numbers, meaning everyone is jumping in and trying to short, which means they're paying a ton to keep these shorts open. So now one of two things happen have to happen, which both equal volatility. Like if Bitcoin crashes, probably the the roof could come off and it can just you know torpedo down. But if it doesn't torpedo down in the next couple days, here what you see is like, oh shit, a ton of people trapped in shorts and have to get out. So you know, if it survives this moment, it could be reflexive to the like crazy reflexive to the upside. Yeah, you just have a ton of if spot buying comes in, the Zekabal could do something really funny right now, man. Like, I don't think it takes a ton of money to move this chart in the grand scheme of things. Um a lot of people have some very expensive shorts that we've opened.

SPEAKER_00 14:27

Yeah, yeah, you know, when someone's talking about your main bag and you're discussing your main number one bag, and someone mentions the roof coming off and torpedoing, you know, you're thinking red flags in your mind, man. Jesus. But the torpedoes already hit.

SPEAKER_02 14:41

I know, but but that's my point, Sats. Is like the fact that that's being so heavily discussed usually equates to all these people jumping in and trying to short. What happens when everyone thinks it's an easy short and they're all piling in, and then their shorts get a little more expensive and they start to get nervous and they have to pay more to keep it open. This is like a classic, classic short squeeze setup. Um, the problem is like the whole market is holding on by a thread. So I think the only thing you can bank on is volatility in the short term, and then we're not even gonna find out what is really happening. As Wood's talking about what happens with the narrative of the asset. I think we're a couple weeks away from actually seeing the dust settle and see what happens.

SPEAKER_01 15:25

Have you held your coins or are you deckless?

SPEAKER_02 15:28

Panic sold, bought back. Uh I I had to on Friday. I think I told you guys I I was on like a six-hour flight with no Wi-Fi when all this went down. Not a carry in the world.

SPEAKER_01 15:42

Were you taking with no Wi-Fi? What flights don't have Wi-Fi nowadays? Every time I talk to you, you're like, I'm on a flight with no Wi-Fi. I haven't been on a flight with no Wi-Fi in three years.

SPEAKER_02 15:51

I was on jet blue. I had messaging, but it it couldn't load anything. I couldn't even load the prices. So I knew some shit was going down.

SPEAKER_00 15:58

Yeah. I've never been on a flight with good Wi-Fi ever.

SPEAKER_01 16:02

Good Wi-Fi is different than no Wi-Fi.

SPEAKER_00 16:05

Yeah, okay.

SPEAKER_02 16:05

But yeah, here's what happened Friday night. I I I um I decided I had just too much exposure, too much risk. And the weekend I needed to see what happened. So I sold um my entire Zec position, decided I'd wait and see the dust settle. And then like Sunday evening, Sunday afternoon, I decided, you know what, I don't I don't want to be completely out of my position. So I bought back maybe like a quarter of it. Um, and then last night I bought back a little bit more. Um but otherwise just been flip-flopping, and I think I'm a little bit de-risked from where I was, but I still my gut still says like ultimately nothing has changed. Maybe the position has strengthened. You just have to be aware that there is a small chance of zero and scary death right now. Yeah. A few days ago.

SPEAKER_01 17:00

Sass, you held or you sell.

SPEAKER_00 17:02

I hold, of course. I I held, I held. I literally just stopped looking at the chart and and tried to forget about it and then opened it every few hours going, wow, it's somehow worse. Um, until we bounced. That is, but yeah, I'm not gonna sell. I'm not gonna sell. I'm so locked into this bag. This is one literally like it is either it goes to zero, or this is an XPL type type job for me, you know.

SPEAKER_02 17:27

Sats, is there anything that materially happens that would make you like is there a specific thing that happens that makes you change your mind there?

SPEAKER_00 17:36

I would I say I say I would hold it to zero, but if we go back below my break-even, bro, I think I might have to uh it has nothing to do with what happens, like with the audit and all that stuff.

SPEAKER_02 17:49

You just gonna play the technicals?

SPEAKER_00 17:52

Yeah, I'll yeah, because if it goes below my life, I've been holding this back since October 25. Like, I'm if if if I'm getting to my close to my break-even or below, like I'm just sick of it, you know. I'll play something else. Um, I'll look for something else and hope the market goes lower. Um, but like in the grand scheme of things, it's holding up, it's holding up considering everything that's happened and where Bitcoin is. Like Bitcoin literally is nearly about to make a new low. And like, you know, I sometimes think this is a bad way to do it, but could be holding Solana, could be holding Solana, wouldn't have had no palm, no glory, zero glory, zero happiness.

SPEAKER_01 18:33

I do want to pivot to talking about Bitcoin because Bitcoin is back now to where SATS, you and I were buying the dip two months ago, probably. Yeah, and then we sold in the mid-70s. We didn't catch the run to 80, but we didn't fumble back into it either.

SPEAKER_00 18:46

Yeah, getting dunked.

SPEAKER_01 18:48

People are now calling to buy the dip here on Bitcoin again when like it just made a higher low. It's gonna make a lower low here, right? Like, that seems like a no-brainer to me.

SPEAKER_00 18:56

Yeah, I'm not a fan here. No, I'm not a fan of buying here, not a fan, no interest, no interest. Stocks are you know, this is the first meaningful dip in stocks we've seen in a while, and we're seeing way done. Well, this is the worry, wasn't it? This was the worry that what happens that what happens when stocks dips. We're seeing this is what happens when stocks dip. And this isn't a dip right now. This is this is this is a nothing burger right now. Like the SP is what down three percent from the highs. We haven't seen anything yet. It's gonna get a whole lot worse.

SPEAKER_02 19:28

I think the interesting question, maybe we're all you know, we've been a little unfortunately bareholed on here for a while. But like to me, the interesting question is more so timing. If we assume Bitcoin goes lower, um how like how fast can this band-aid get ripped off? Versus like, is it gonna be a slow bleeding grind? Are we gonna chop from you know 58k to 64k for a couple weeks before, you know, like a leg lower? Is there gonna be more fake outs, or like is at what point and how much correlation is there to the stock market? Do we see the final, you know, the final leg lower? Where I think would like that's to me, I assume that's where you're waiting. Is like there's gonna be another leg of this in your mind. And then it sounds like you're interested in buying once we get there.

SPEAKER_01 20:23

100%. I'm interested in buying like mid-40s, probably.

SPEAKER_02 20:30

But like the time does the time like I feel like this is what catches people off guard is there's kind of two ways it happens that that even if you have the greatest plan, I feel like traders struggle with is sometimes it happens really fast. It's like a flash wick, disgusting day. It maybe it taps 48k or whatever, and then it goes back up. Uh, and people assume it's gonna revisit, maybe they never catch it. The other way is like sometimes it's just it goes down there slow, bloody, and then it's like down there just chilling for so long that people start to think, oh shit, it's gonna go lower, it's gotta go lower again. Um, that's the game you kind of have to think about as well.

SPEAKER_01 21:11

I'm not looking to buy it quickly. I'm looking, like I think we just saw what an impulse move up to 80, we're down now at what 60 again. I think if we chop between like 40 and 55-ish for from now until beginning of 2027, I think that's kind of like my timeline is to probably DCA into it starting on whatever the next big move down is to the next level. I think we'll see one more level lower, and then that's where I would start to accumulate, is my thought process. And I would just that that would be long term bags at that point. I'm not really playing for a quick move, I'm playing for next cycle at that point.

SPEAKER_02 21:48

So we're close to, but but we're not that close, so you're gonna have to be patient.

SPEAKER_01 21:52

I think you're gonna have to be really patient, and I think there will be metas between here and there, but like you know, I I I think. If you can sit on Sats, Sats loved to say this. Uh he tweeted this sitting on your hands is the best trade you can have, right? Um, and then I think if you can just the ability to do nothing in a bad market is greater than you can imagine. And if you have been able to sit on your fucking hands for the last year and not trade, even like if you've missed Zec or whatever, like that's probably better. Like you probably are better off by having not traded this market at all than by trying to catch things. And I think very few people have made money in the last what 12 to 18 months, probably. Would you guys agree with that in crypto? Yeah, yeah, 100%. And like even if you've been buying dips, the dips just keep dipping.

unknown 22:41

Yeah.

SPEAKER_01 22:42

On majors specifically.

SPEAKER_00 22:44

So um just end up tiring yourself out and just trading shit conditions. Like yeah, we need we need more people to leave. There's still a lot of people here, I think. Yeah, I mean, Arthur Hayes sold all his bags, and I think his exact words was he's gonna go two step in Ibiza. There you go. I saw that tweet and I was like, okay, I'm already here, I'm already here, Arthur bro.

SPEAKER_02 23:06

All of that said, something like a little more overt. Oh, I guess he's been pretty overt, but that was pretty grifty, dude. I mean, he just came in and that was some very quick pump and dump action by Arthur. Like, he does he usually hold it for two days and then just dump it.

SPEAKER_00 23:21

He's just gonna say he's just like like I think people put him into this category, like, oh, like the BitMEX guy, like he's some sophisticated, like superhero trade, bro. This guy's just like us. He's just like us.

SPEAKER_01 23:32

I saw a trade and someone was giving him shit, like, oh, you bought it, you were max bullish, then you sold the next day. Like, I do that all the time.

SPEAKER_00 23:39

That's just what happens, you know.

SPEAKER_01 23:41

That's just how it is. He'll be super bullish for three days, like, oh fuck, a red day. Like, what if this happens? What if that happens? I'm out, I'm done. Two weeks from now, two weeks from now, he'll be back, probably. But for today, right? And you know what?

SPEAKER_02 23:54

If you're gonna if you're gonna stay in this market and actively trade, you kind of have to do that, and that's why it's very there's very few people who can do that successfully. Like one person, one percent of I think Rex tweeted something about like you know, you have to have this crazy like uh idiocy and risk tolerance to make it to crypto, and that's why one percent of people are successful. Um the problem is it's like it's a little easier when you have motion and you have a following and influence. Yeah, you can get it, you got a little buffer. He's got a little exit liquidity buffer.

SPEAKER_01 24:26

So yeah, he's pumping large caps. I don't, I mean, I don't even know if he's pumping it. If if he's shilling a coin that's worth tens of billions of dollars and selling it, I have no issue with him being max bullish on it and then selling two days later.

SPEAKER_02 24:37

He sold other people too for followers.

SPEAKER_00 24:39

He like sold the top as well. He he sold the top of hype, really. Literally the pick o top of hype he nailed, and then the chart nuked. He probably nuked it. Yeah, probably, yeah. And I think he nailed the near top as well, nearly.

SPEAKER_01 24:54

Did he? Yeah, are you guys still near guys after last week? You guys, we were all you guys were swizzle. You were a big near guy last week. We did our whole list of co-kids, so it's almost like I'm a near guy, or near and whatever. Are you around?

SPEAKER_02 25:09

I I I bounced, man. After all, I was a big UPL, and then I round-tripped it and I got out break even. Um, I did see an interesting Nier announcement. Uh, Henry, I put it in the chat somewhere. Um right here. They just announced this like an hour ago. This is actually kind of interesting. This doesn't equate to the token necessarily, but they're integrating hyperliquid perps on near, and they're saying confidential perps coming soon.

SPEAKER_01 25:43

Interesting.

SPEAKER_02 25:44

That's kind of intriguing.

SPEAKER_00 25:45

Yeah, that makes Aster completely irrelevant. And deposit any any asset from 35 chains directly into hyperliquid. So you don't have to fucking bridge to ARB anymore.

SPEAKER_02 25:55

So, all so what is it saying though? It's like you just privately you basically send it over privately into like then a private wallet, and then you just trade as normal.

SPEAKER_01 26:06

You probably just trade within a pool.

SPEAKER_00 26:08

Yeah, that's that's that that's definitely what it is. They execute the trades on your behalf. It's it works a bit how privacy cash works. Um, but you're they're just executing trades on your behalf.

SPEAKER_02 26:18

So they'll take do they take some fees?

SPEAKER_00 26:20

They'll they'll basically be taking they'll be taking fees, yeah. They'll be taking fees. But this is another one of them things that's probably not a hundred percent private, but best you're gonna get.

SPEAKER_01 26:28

But but this is if you have but if you have a big position and you don't want to get hunted, this seems like a no-brainer.

SPEAKER_02 26:34

It's worth the fees in that case, yeah.

SPEAKER_00 26:35

Yeah, yeah, yeah. But like if it depends depends how big the pool's gonna be. This is me assuming it's a pool, by the way. Like, I don't know if it's a fucking pool, but this is the way I see it would work. And like if you have a massive position, that position is still gonna be public, it's just gonna be in a pool, you know.

SPEAKER_01 26:51

Yeah, it means mixed with other positions. Say, oh, like the near pool is long massively, but like no one knows who that specific person is. Like, for like for us, this doesn't really. I mean, maybe it makes sense. Um, I think this is more so geared towards bigger traders.

SPEAKER_02 27:05

I think the the thing we did use this at?

SPEAKER_00 27:07

I would, yeah, I would use this because this is also like I had this thing ages ago. These guys are all in my DMs. There's like five or six of them. I posted a PL screenshot. These guys found my hyper liquid wallet, and I would fucking tweet about something and I would close my position. Yeah, close my position, these guys in my DMs. What the fuck are you doing? You're you're stupid, bro. Why'd you close this? And I'm going, bro, like, what do you mean? And he's like, Yeah, I've got your hyperliquid wallet. Okay, fuck. So yeah, I would probably do this. I'll probably do this. I would give it a shot, definitely. But if the fees are outrageous, which they potentially might be.

SPEAKER_02 27:43

I think the thing we did see on Friday, and maybe maybe the near guys would take offense to this, but by the way, is there a dot? There's the dot HLs. Is there like a a dot near uh I don't know?

SPEAKER_00 27:55

Or no, I I don't I don't think so yet. Maybe we should maybe claim that, huh? Yeah, yeah. Yeah, yeah, yeah.

SPEAKER_02 28:01

Except we sold it could be so insufferable.

SPEAKER_00 28:03

Yeah, we all did dot years. Yeah, we all we all sold, so yeah, fuck. Bro, uh NIR does so much shit as well, by the way. I just opened up their website. This shit is so good. I'm so bullish.

SPEAKER_02 28:15

They're always working, but uh I will say so. That that's what I was gonna say. On on Friday, we did learn that while they may take offense to this because they do a lot of different things, they have a bunch of different products. Um, we learned that they're very clear, their narrative is so heavily tied to Zek.

SPEAKER_01 28:32

Yes.

SPEAKER_02 28:33

Uh based on everything that's been happening this year. Everyone was talking about the Zec move, but man, the the Nier chart looked the same. The Nier chart got annihilated on Friday and over the weekend, and then it started recovering right as Zec did. It's you know, I haven't looked at like the actual comparison, but I have to imagine they're they've been trading somewhat in tandem with Nier on a lag. And that's one of the reasons I got out very quickly of Nier. I actually exited Nier before I exited Zek because I just realized like it's almost a slightly weaker narrative. Um not narrative, but almost a you know, just a slightly weaker base. It's it's um so heavily tied as almost as a beta to Zec right now that that made me feel a little squeamish on it.

SPEAKER_00 29:18

Bro, it was literally only a lot. We were going, there's a there's a mini bull market in the privacy AI sector. We were going, this is booming. This is booming. If you're not paying attention, pay attention. Two days later, boom.

SPEAKER_02 29:31

I honestly though, I still think it's true. I still think it's true. I know we're joking today and prices are bad today, but like let's let's give it a couple weeks because like let's just assume for a second Zek survives this and comes out of the out of the you know, the dust settles and it it comes out okay. Um I think that narrative can be back pretty quick. Uh I I think you'll still see those select assets outperform Bitcoin, in my opinion.

SPEAKER_00 29:56

Yeah, no, definitely. If if Bitcoin does a 1% move, all these assets rip if Zec has a positive news as well. I would feel more safe in something like hype right now, though. But that's a luxury. But $59 isn't attractive.

SPEAKER_01 30:13

What's attractive to you with hype?

SPEAKER_00 30:16

40 45.

SPEAKER_01 30:19

Are you guys buying anything right now? No on this pullback?

SPEAKER_00 30:23

Nothing, nothing, nothing. Nothing. I don't know.

SPEAKER_02 30:26

I bought some Zek back, but that was you know, that was like a hiatus. It was a three-day period of not owning any because I just needed to see that it, you know, there was too much risk in just holding it while it was going going down. Um I'm actually I'm interested in like slowly accumulating back to my core Zec position. Um but that's because you know it's a long-term that that's a like a longer term position. It's it's something I feel comfortable holding basically instead of Bitcoin. Um otherwise, I man, I go back to Sats's tweet over and over again. Uh I'm willing, like I'm willing to put small amounts into things and be hyper-aggressive on them, but like pull the plug much quicker, um, and really not risk too much size with anything because I'm mostly doing it to just stay stimulated.

SPEAKER_00 31:21

Yeah, yeah, I I wouldn't I wouldn't be buying anything right now. I would literally my only plan is to wait to see what happens with these IPOs. Because I think this could be really fucking bad. And the one the positions I would be interested in is if SpaceX comes out and it starts pulling liquidity from everything and you get a good entry on something like Google, I think you take it short term.

SPEAKER_02 31:44

Um I do do you guys think a lot of that liquidity like it's not gonna look the same way as in crypto, but like do you think a lot of that has already happened? I feel like a ton of the liquidity extraction and prepping has has happened for the most part. SpaceX IPOs on Friday.

SPEAKER_00 32:01

Yeah, I have no idea what's gonna what it's gonna look like.

SPEAKER_01 32:04

Guys, no idea. I I tweeted out these two things that happened to me in the last 24 hours, but so yesterday um I'm on my SoFi app, which I I I do Zell from uh my Zell people. It's got not a lot of money, it's got five thousand bucks in it, and I'm getting advertised to buy this basics IPO in my five thousand dollar basic so-fi app that I use to pay like babysitters and whatever through. Yeah, and then later in the day, I deposit a check into Fidelity and um it's not showing up in my transaction history. And it's like, what the fuck's going on? I call Fidelity and they say to me that there's been such a large influx of cash that uh their systems are lagging because of the upcoming IPOs. And those are these are two real things happening the same day to me. Um, so first of all, like the so fi thing is super worrying to me. Like we should not like that this is like a crypto thing.

SPEAKER_02 33:02

I thought you were reasonable when you posted this, would because this is crazy.

SPEAKER_01 33:06

Yeah, this is crazy. I swear to god. Um, so the so-fi thing is the most worrying thing to me because this is what we do in crypto. We pump and dump things. People will shill their bag and sell it, they'll show people who can't afford it, they'll show them their followers. Like, Elon should not be advertising as $1.8 trillion, whatever it is, IPO, to people with $5,000 in their bank account.

SPEAKER_00 33:28

Yeah, it feels wrong to me, right? Yeah, or maybe it just goes parabolic, you know, on the rip and it liquidity sucks. Like, that's a real fucking thing. Like, that is a ri it literally could rip on day one. Um but I don't know.

SPEAKER_01 33:45

But like they shouldn't be advertising it to someone with 5,000 bucks when like the reality is like that person probably, yeah, it might rip 20, 30, 40, 2x, whatever, but I don't know what happens in two weeks.

SPEAKER_00 33:57

Yeah, it's fucked. It's fucked up. It's gotta be, right? I think so. But maybe we're just fucking wrong, you know.

SPEAKER_02 34:04

No, you're not. So I'm uh I'm pulling up the this uh the chart. Uh I don't know if this is the button.

SPEAKER_01 34:12

The hyper liquid chart, SPCX chart, yeah.

SPEAKER_02 34:14

Yeah, maybe someone else can pull it up.

SPEAKER_01 34:16

Um yeah, Henry, you pull that up. The SPCX hyperliquid chart.

SPEAKER_02 34:20

So right now the IPO price is set to be at $135, right? Which is what is the valuation currently? 1.4 trillion, 1.7 trillion. Let me look it up.

SPEAKER_00 34:32

It is 1.75 true.

SPEAKER_02 34:38

1.75 trillion. The the last like reported numbers for their revenue were like uh 14 or 15 billion. If you because you're like merging all these entities, so you can probably double let's conservatively double it, say they're projected 30 billion in revenue. What is that multiple? It's about to open the IPO price that it opens at is about to be like 40x or 45x revenue. Yeah. Um like text, like hot tech stocks trade at what, like uh 10 to 20x?

SPEAKER_00 35:11

Yeah.

SPEAKER_02 35:12

So there's just like there's so they also changed. I I know XY made a post about this. There's a few others where it was like all these different rules got some of these IPO rules got changed. They're allowing, like, you know, Robin Hood has some access. Uh some of these other exchanges, like there's a lot of retail, this is a very retail friendly um shit uh IPO, right? Like they're trying to make it available to a bunch of people, and that's why Wood is seeing this so fi shit happen. Like there's just so many red flags of where we're at. It doesn't mean that this thing can't rip. Like on hyperliquid, right now it's trading at like uh 100 almost 170 bucks, so that's significantly above IPO price. You could definitely see some mania the first couple days, maybe the first few couple weeks. If you guys remember the circle, you guys remember the circle IPO, how that thing just ripped like 300%.

SPEAKER_00 36:05

That's crazy.

SPEAKER_02 36:06

That could happen. You you could buy this IPO wherever and and you could make a nice flip, it could go crazy, but it's not based on fundamentals right now.

SPEAKER_00 36:15

No, I mean the the the the the case people will make is that the revenue doesn't really matter here because the mission is so big, and if he gets it right, then he wins everything, you know? Yeah, SpaceX win everything.

SPEAKER_02 36:28

And that's a great narrative for like you know the the launch of this whole thing, no pun intended, but like at a certain point, some of this has to like settle back into like uh like logic, and so like throw out the first three two to three weeks of trading. Who knows what's gonna happen? It could go parabolic, it could crash. We don't know. Um we could talk about if you would be a buyer if you have access at IPO price, but like ultimately, I think I feel pretty safe in saying you will have an opportunity at some point in the not too distant future for a considerable amount of time to buy this well below IPO price. Yeah, I think you can buy this well below IPO price, but that might be a great buy, and maybe long term, even these you know, at 1.7 trillion, it's a great buy because if Elon does his Elon thing and and you know this company does half of what it says it can, maybe it's a $10 trillion company, right?

SPEAKER_01 37:28

But I I think are there any $10 trillion companies? No.

SPEAKER_02 37:33

No, but has anyone has anyone successfully send rockets to space and for commercial air problem?

unknown 37:40

No.

SPEAKER_01 37:40

The the other thing is like I was on Instagram a few days ago and I saw like on all the like finance podcasts that they have is like guys that invested in SpaceX 10 years ago, all like bragging about getting liquidity for their investors. And it's like you're just on a podcast with your five billion dollar position telling everyone you're just gonna fucking dump it.

SPEAKER_00 38:02

Yeah, literally thinking of nuclear.

SPEAKER_01 38:04

And then you're selling it to SoFi people with $2,000 in their bank account or whatever it is. Yeah, that's just that that's like the thing that I feel is like so wrong about this whole thing.

SPEAKER_02 38:13

It's like this is like the real world version of Trump coin on a much larger scale.

SPEAKER_00 38:19

And then we're gonna we're gonna have we're gonna have Melina, we're gonna have we're gonna have OpenAI next, and then we're gonna have anthropic. Yeah, we're gonna have the trio, we're gonna have the fucking back to back to back. What the fuck does it look like post-anthropic IPA?

SPEAKER_01 38:34

I mean, I mean, yeah, the market's tanking right now. I actually just bought some stocks today. I feel like we're down eight percent in almost 10% in the last like three trading sessions. So are you buying individual stocks right now? No, I'm buying indexes, I'm buying general exposure. I'm buying, I'm buying Amazon and I'm buying QQQ. Um, I think I I I'm weirdly kind of bullish on all this stuff though. I think like we're in for like the yeah, I think we're in and and Bitcoin, I think over the next couple years it'll come back. I mean, I I don't mean like I'm bullish tomorrow, but I mean like I think we're gonna see this is a tremendous bubble, and things are gonna go higher than anyone thinks they will. Um, for the like the IPOs? Everything, like and ever and and everything bubble. I think like QQQ at 1500 isn't like absurd. Well, especially it's like like that's a ridiculous thing to say, but I think that's not out of the question. I think I think uh the economy is different than it was, people might be underestimating the impact of AI and robotics on the world, and we might see prices get even more irrational than they already are, and then we die for a long time.

SPEAKER_02 39:51

Well, but and then the other the flip side of that on the dying part is like one of the ways we die might just be hyperinflation, yeah, which means, well, shit, man, you better hold assets because the assets could be worth less but go up in asset price. Yeah, um, that's one way for a market to correct itself, unfortunately, is like you know, that that's very punitive to people who can't really afford to buy and hold assets. Um that's the clear indisputed global trend right now. Yeah, like inflation is like it's not a um it's not something we're speculating on at this point, right?

SPEAKER_00 40:29

Um it's here, yeah, and it's definitely not going away. But I don't know what it looks like post-that, you know. But as a grand holder of USD right now, not good.

SPEAKER_01 40:43

You better go buy some some uh Swiss francs.

SPEAKER_00 40:47

What Y22 style? Y22 mode. Yeah, Y22 mode on the Swiss francs, honestly. Maybe maybe, but just I can't. I've been saying this for so many weeks. I can't buy stocks here still. I can't bring myself. Maybe I should just fucking do it. It's a bit like the Tron trade, you know? Should have done it ages ago. If I open up this chart and Justin Sun is pulled off an all-time high. Oh man. He hasn't pulled off at all time. He hasn't, he hasn't, he hasn't, but he nearly had. He pulled off an all-time high on 25th of May. Good for him.

SPEAKER_01 41:20

I mean, to your point, Swizzle, about inflation. Yes, uh, escorts in Silicon Valley charging 23 bands a day. To pound Nvidia, anthropic, SpaceX bros. And not even to like have sex with them, only just to like talk to them.

SPEAKER_00 41:37

Like this is ins per day. Per day. We're not even talking per hour here. We're talking per day. What are these guys doing with these lots?

SPEAKER_01 41:46

Worrying. Like, if you have that much money, why are you sending it? I I feel like you could like find someone you actually like and just like give them a couple things.

SPEAKER_02 41:55

You can only talk to your AI machine for so long, you know? Yeah, at some point you need a little personal connection.

SPEAKER_01 42:01

Yeah. Crypto guys' wives and girlfriends are gonna they're gonna start outsourcing them to Silicon Valley, flying them out there, and they're gonna be a 23k per day. 23k per day, Sats. Are you giving up the girlfriend for 23k a day?

SPEAKER_02 42:16

Was this like a New York Times story? Wasn't it some very like big competition posted this? Forbes did it. Yeah, speaking of Forbes, I don't we I don't want to code switch too fast here, but did you guys see the uh the latest 30 uh Forbes 30 under 30? Uh oh just came out?

SPEAKER_03 42:35

They're letting anyone in these days.

SPEAKER_02 42:38

What's the DeFi protocol that just uh just got hacked? Got hacked, exploited. Oh, uh what's when we were clowning the founder of Humanity Protocol? Does that did anyone follow this humanity protocol thing? I can't even keep track of all the DeFi.

SPEAKER_01 42:54

I I have it in our show notes because I was gonna make a joke about how another thing that no one's in, another thing got exploited that no one has ever heard of before. Yeah. Like if you're in humanity protocol, fine fucking god. But this guy was forged 30 under 30.

SPEAKER_02 43:08

Henry, can you click in on the the the other tweet? No, no, no, no, don't zoom in on his face. Um go to this tweet, yeah, yeah, yeah. So it says he took 60k for himself or whatever, but this was uh he was 30 under 30 for a different company. And then he did this and then he pivoted to crypto, started this humanity protocol, and now he's got this um, they had this 31 million dollar. I'm putting exploit in quotations because I I actually think this whole mythos claude, you know, DeFi is ruined thing, it's a really convenient scapegoat for a lot of bad actors. Yeah, yeah, yeah. It's a really convenient scapegoat. Like so there was a post by um Ogle. You guys remember Ogle from the Bonk days?

SPEAKER_00 43:58

Yeah.

SPEAKER_02 44:00

Here, Henry got it for you. He was apparently an early investor in whatever this humanity protocol was. I don't even know what it is. Um and he's basically saying they did some weird shit and uh changed all the terms on the the triggers for the vesting for all these early investors. Like shortly before this whole private key compromise exploit happened. It's like man, I I don't know, like it everyone just assumes the narrative that DeFi is fucked and um you know these exploits are gonna be a problem, but it's like we actually need to look into some of these because I don't think this was necessarily just a straightforward uh no, no, I've had this done to me before, and then all my money was gone.

SPEAKER_01 44:48

So I've uh I've seen this playbook before. These guys are generational opportunists. This is a tail as old as time. Oh, wait, tokens up uh is uh up a lot, and you're investing soon. We're gonna extend your investing period out indefinitely. The uh World Liberty Phi guys did this, Trump family, yeah.

SPEAKER_02 45:05

And now you've got the big too much force to stand behind of like, oh guys, the AI is just so advanced now. You know, we couldn't have planned for this. The funds are gone. Sorry.

SPEAKER_00 45:16

Yeah, mythos, mythos guys. Uh Mythos somehow landed your money in my pocket. Fuck, I don't know how that works. Crazy, bro. No, I forgot, I forgot the Trump's done that. That makes it even ten times worse, and you reminded me. Remember that whole situation where they were tweeting and like they were trying to trying to make up for what they'd done, and then they were just like, Yeah, guys, vested forever.

SPEAKER_01 45:38

And now we all forgot about it. Yeah, everyone forgets, you know. Guys, la i i I think we should pull this up, Henry, and talk about it. Um uh this guy tweeted out about going from 45 million down to 17.2k.

SPEAKER_00 45:59

I think he is LAPP here, by the way. I think he's gonna be a lot of people.

SPEAKER_02 46:01

I heard well, actually, this guy has DM'd me many times asking to come on the show.

SPEAKER_00 46:05

No, Shams is a good guy.

SPEAKER_02 46:06

I don't know him.

SPEAKER_00 46:08

He's a good guy.

SPEAKER_02 46:08

He's a good guy, but he's it was called DM.

SPEAKER_00 46:11

He's a shit poster, you know? He's a shit poster.

SPEAKER_01 46:14

So this is this is a LARP? Potentially, yeah. I was gonna talk about some of the worst round trips you guys have heard about this cycle.

SPEAKER_02 46:22

I mean, we could do that, but this guy, I don't think this is.

SPEAKER_00 46:25

Wait, wait, wait, no, before we start, who'd who's the bet who like I think we're all thinking of the same guy when we think of the worst round trip? His name begins with a C.

SPEAKER_02 46:34

Oh, I thought you were gonna say Swizzle.

SPEAKER_00 46:36

No, no, no, no, not this time. This guy's got an even worse one, Chrome.

SPEAKER_02 46:44

Oh, Chrome, Chrome. That's I mean, his story's crazy.

SPEAKER_01 46:48

That's I mean, Shams basically wrote the Chrome story out, yeah. That's essentially the Chrome story.

SPEAKER_02 46:53

Yeah, is uh is Chrome still around? Is he Chrome's still?

SPEAKER_01 46:57

He became a BCH maxi at the Pico Top of BCH before it went to crashed, and then he's got cash in his bio still, and now I think he's an equities guy.

SPEAKER_02 47:09

As many now are.

SPEAKER_01 47:11

Yeah, yeah.

SPEAKER_02 47:11

I saw where uh I saw crypto twitters pumping uh pharmaceutical uh companies again. Oh, that's handy. That's a good thing, like it's been a few years since we did that.

SPEAKER_01 47:20

They're pumping, they're pumping like low cap stocks now.

SPEAKER_00 47:23

It's truly oh that's what we're pivoting to penny stocks now. Let's go.

SPEAKER_01 47:27

Yeah, well, we had that happen yesterday. We had Anthem last night say he's buying memes, and then every single group chat I was in trying to track as well and find what memes we bought, and then no memes pumped. I think like some memes went up like 30 percent.

SPEAKER_00 47:41

I haven't looked at any trench coins, I haven't heard of a trench coin. What the hell? It's ugly. I used to be the guy that's ugly.

SPEAKER_02 47:50

I'm in one, I'm in one, actually. I'm in one.

SPEAKER_00 47:52

Oh, really? Here we go.

SPEAKER_02 47:53

And it's like Wood's ultimate. I'm not I don't want to talk about memes on here, but like uh it's Wood's ultimate, like this is the type of thing if we're in a bull market, Wood would be all over this. What is it? It's like an Axie Infinity thing. Oh, that game? Yeah, you're into that coin? I've never played the game. I've never played our boy Pingu and our boy. I just do random shit on FOMO, you know. There are sponsors, so I throw I throw some dollars around on FOMO every once in a while. I like to stay in the mix. Yeah, um yeah, I'm up on it, it's good, but followed my boy Pingu into it.

SPEAKER_01 48:29

Yeah, so anyways, people have people were tracking down what memes he was buying. People said he was buying Triple T, which I think went up like 20%, and then didn't. Then people said he was buying Goblin, the open AI coin, which I know supposedly you have a history with, and lost money on, or still owns it.

SPEAKER_02 48:47

24 hours.

SPEAKER_01 48:48

I thought you were buying 24 hours.

SPEAKER_02 48:50

I held I think I held it for a few days.

SPEAKER_01 48:51

Yeah, and then there was another coin called Jachua that I think they exit scammed on. No, it's all 3.6 million.

SPEAKER_02 48:58

Oh, what are the odds that he actually bought anything? I feel like it's a good probability that this was just a post and he didn't buy anything.

SPEAKER_01 49:06

I mean, it got a million views, dude. He made like five grand off that post, probably.

SPEAKER_02 49:11

People love memes, man. People love memes. They really do. That's look at that engagement.

SPEAKER_01 49:16

Look at that, it's incredible. I mean, dude, like if whenever we have a meme coin trader on the show, our engagement goes up 7x.

SPEAKER_00 49:22

Yeah, that's true. Them guys love it, man. I uh I just it's the only way to go from a little to a lot, still in crypto.

SPEAKER_01 49:31

And like uh when we had Say on the show last, he was talking about how bullish he is on memes and on FOMO specifically for that. And I don't I I agree with him, man. Like, I think long term they're here to stay. We can clown on them all we want to, but like no, they'll be back for sure.

SPEAKER_02 49:46

Yeah, I think we're all in agreement, they'll be back in some form or another. It's just like you know, stuff gets nasty in the bear market. It's like yeah, like right now, I say I don't want to, I'm I don't want to say one that I hold, I don't want to reference them, I don't want to talk about them because I know there's just nasty make mechanics behind the scenes.

SPEAKER_01 50:05

Bull market, totally different game, totally different game, free game, small fair game, yeah, yeah, yeah. Yeah, for sure. And bonk guy is shilling World Cup coin like his life depends on it. He shielded it in in Google Doc. In in a Google Doc. He posted a Google Doc as his like bull post.

SPEAKER_02 50:21

I do have to call him out on one thing because this was just so funny. This was so funny. So bonk guy, yeah. I don't even I haven't actually seen he's like, is he holding he's holding this one on FOMO?

SPEAKER_01 50:32

I think so.

SPEAKER_02 50:33

So is it World Cup coin or whatever? But he made this post in his Telegram about the World Cup coin and how there's all this betting that happens at the World Cup, and this, if he even gets a fraction of that percentage, whatever. He's doing the whole thesis, and then he said, I'm not even a big soccer fan. I'm probably not even gonna watch the World Cup game. Oh uh, but like I'm still bullish or whatever. And I'm like, hang on. This guy thinks there's only one game, he thinks there's only one world.

SPEAKER_00 51:00

No way, no way. He just thinks it's one, he just thinks it's a one and done. Oh, he thinks it's like the Champions League final. Oh man. Yeah, yeah. I think oh yeah, he definitely does. Hang on. Yeah, yeah, I know. I'm getting that vibe too. You might just think this is a one and done final, the World Cup final. This he doesn't realize this is this is this is gonna go on for ages, right?

SPEAKER_02 51:24

A couple months, man. Well, I should think it's better for him, but I don't think it's more bullish for him, yeah.

SPEAKER_00 51:29

What's his what's his thesis that you buy this world cup coin?

SPEAKER_02 51:32

It's not in his telegram.

SPEAKER_00 51:33

Um people are gonna buy the the teams or whatever of the I actually don't I don't know.

SPEAKER_02 51:39

I remember like three years ago, would this was around the time I met you. We were all just buying country coins. Oh, yeah, it was amazing. I bought like like everyone was talking about USA, and I think there was some soccer event going on or something, and France was going, then I was like, I literally my thesis was like, Man, China is a bigger country than all of these. I just bought China coin, and then China coin went crazy, dude. I bought but the thesis was way less advanced than what these guys are trying to do right now with the betting world cup betting, all that. At that point, it was getting finding a good country, yeah.

SPEAKER_00 52:13

That was getting 10x overnight. I I was up like 50x on fucking star signs around that time, like people just making star signs and people were buying the star sign there were, and I was like fantastic. What is that? Like with your birth year, like it's like um oh what fucking now, man. Star signs. Let me put it in the I can't believe you've never heard of star sign. Wow, what the fuck? I've never heard of it. Like a zodiac sign, really? Yeah, yeah, yeah, yeah. Like a zodiac sign.

SPEAKER_01 52:40

Is this just a British way of saying zodiac sign?

SPEAKER_00 52:42

You say star sign, yeah, yeah, yeah, yeah, yeah, yeah, yeah. Like a zodiac sign. Yeah, shit, bro. I I I made a significant amount of money on star sign coins back then. People don't realize how silly it got. I never knew that was a thing. Um, I just remember that I was a big Palestine coin pull. You and uh you and Pow. You and Pow. You and Pow. Tag team in that one. Tag team in that one, bro. That guy and his gifts, his Oppenheimer gift.

SPEAKER_02 53:10

Man, this is this is a throwback even beyond like this. Is the old days? Like, I was I was a top five holder of the France coin.

SPEAKER_00 53:19

Oh, they're like that one too. Oh, free electron.

SPEAKER_02 53:23

I was silent on the timeline and he was just bullposting it to glory for me. That little bit.

SPEAKER_00 53:28

Do you remember the Joe Biden coin he was pushing? Would you like that one?

SPEAKER_01 53:33

That went to like seven million.

SPEAKER_00 53:36

Yeah, Joein. Oh, I thought you meant Bowden.

SPEAKER_01 53:38

Guys, uh, Free Electron hasn't tweeted since December of 2025.

SPEAKER_00 53:46

He died. Oh said Merry Xmas bros, enjoy the time with the family. Never came back.

SPEAKER_01 53:54

Never came back and blocked me.

SPEAKER_00 53:56

Oh, he blocked you? Shit.

SPEAKER_01 53:58

He blocked me. Have I told you guys a story about how I mistakenly sent free Electron uh 100,000 Mishi tokens once? And really? I was too yeah, I was tracking his wallet back in the day before like wallet tracking was a thing. I don't even track wallets, that's how his wallet. And I was like, it was exhausted, and I was sending it from a hot wallet to my cold storage, and I mistakenly the last wallet I had copied was his wallet to look at and sell scan, and I sent it straight to his wallet. Um, and did he send you it back? Of course not. 100,000 Mishi tokens ended up being a lot of money.

SPEAKER_00 54:31

Yeah, a lot of money.

SPEAKER_01 54:33

I think it was like six figures. Yeah, it was like low six figures at its peak.

SPEAKER_00 54:37

I think you sent this guy six figures. What do you do?

SPEAKER_01 54:40

Yeah, well, at the time it was like 15 grand when I sent it to it. Did he hold it? Yeah, he held it and never sold it.

SPEAKER_02 54:46

Uh still is he still holding it? We should go track it down. That would be amazing.

SPEAKER_01 54:51

Yeah, he probably sold it, but um, yeah, so I I I sent I gifted free electron six figures with me she coined. And then he blocked you just to and then he blocked me because and I didn't even ask my money back. I was just like, whatever, this is the mistake.

SPEAKER_00 55:05

Like that was the good days, man. 15k.

SPEAKER_01 55:08

That was the good days when I was like 15k, just keeping I'm not gonna ask for it back. Like, I'd rather just maintain my pride and my anonymity and just say uh it's all good, yeah. Different times.

SPEAKER_00 55:21

We probably thought this was amazing, you know. You probably was like, wow, this guy's what a nice guy, bro. This guy sent me 15.

SPEAKER_02 55:26

What amazing guy. He just thought Wood was raiding hard and working crazy.

SPEAKER_01 55:29

Yeah, yeah. Yeah, yeah, raiding free electron hard. Oh my god, I was such a good raider back in the day. Oh man. Um, all right, uh, let's wrap it up here. Uh, we're gonna be back this week Thursday instead of Friday, um, because I can't do Friday. Um, we're gonna be doing a little later, I think, 1 p.m. Eastern. Um, we'll announce that tomorrow or Thursday, whenever we whenever Henry decides to get around to it. Um, but in the meantime, download FOMO, check it out, go trade these coins, go to their web app, uh, check out whether I'm doing a purpose soon. And um, we will see you guys in a couple days.

SPEAKER_00 56:11

I don't know.