All Things Crypto: Mantra Mess - $BTC Breakout - Thrive Protocol

# All Things Crypto: Mantra Mess - $BTC Breakout - Thrive Protocol | 2025-04-14 | https://x.com/i/spaces/1jMKgknXEMkKL | status: approved
# Speaker attributions verified via X captions, ECAPA voiceprints, and on-air handoffs where marked confirmed.

[0:00:26] Dave @DCBK2LA: Let's go.
[0:00:47] Kool @koolcryptovc: What's up? Let it be. No credits, Steve. Yeah. But I need a reminder in a few.
[0:02:42] Dave @DCBK2LA: I
[0:04:00] Dave @DCBK2LA: Yeah. Yeah. Yeah. Yeah. What's up, everybody? Happy Monday. It's always definitive when it's a Monday. You know what I mean? Like, know it's Monday. Right? Like, we never have to guess. You know how, like, we always do, like, the way it was today? Mondays, we... I guess, we always know. Right? Like, it's, like, it's fucking Monday. I guess Monday is always gonna be Monday, but it's not, like, nine to five Monday. It's about... Yeah. Anyways, welcome to ATC, ladies and gents. Hope everybody had a great weekend. A lot of shit going on in the news. Massive headlines. Of course, we got some Trump stuff. Hopefully, we're gonna have some guests today from Thrive Protocol. I literally missed a monster DM from them from, like, a month and... Maybe two months ago being like, hey. Wanna run a podcast for us? And I'm like, oh, about that. Yeah. So kids, make sure you check your your DM folders because maybe there's opportunities of a lifetime in there, and you might have passed it up. But, we're gonna get Thrive back in here today. We got a bunch of other stuff cooking, but let me say what's up to the cohost and the guests. Cool. What's good, bro?
[0:05:01] Kool @koolcryptovc: Hey, Dave. What's up, bro? What's going on, man? Happy weekend. Happy Monday. Let's go. I'm ready for the show. Let's do it.
[0:05:06] Kkoma @itskkoma: Let's go. I forgot Landy.
[0:05:08] Kool @koolcryptovc: What's up, man? What's up, man? Of peace. You guys are okay. Let's do it. Let's go.
[0:05:13] Dave @DCBK2LA: Landy. What's up, Landy? You're back from doing all your pole work. How are feeling?
[0:05:18] Landy @CryptoLandy: Yeah. Working them poles. You know? Just cross country pole working. It was quite an experience. I'm I'm still recovering because I ended up staying there just long enough that it screwed with my sleep schedule, so I'm having a blast. I'm caffeinated, like like, way too caffeinated right now. So, yeah, I'm gonna be pretty much all over the place today.
[0:05:46] Dave @DCBK2LA: Thanks for the heads up. Very much appreciate it. So now we know who to skip over. If you're going long, like beep. You know? Oh, Landy dropped. I
[0:05:54] MetaBeast @AKCMetaBeast: accidentally Did Landy say he was working the polls?
[0:05:58] Dave @DCBK2LA: Yeah. He's a poll worker.
[0:06:00] MetaBeast @AKCMetaBeast: Okay.
[0:06:01] Dave @DCBK2LA: Yep. Good
[0:06:02] Kkoma @itskkoma: to You heard that right.
[0:06:03] Dave @DCBK2LA: You know, poll workers tend to... They go to do, like, you know, during election season and whatnot, but I don't know. Oh, sure. Okay. Yeah.
[0:06:11] MetaBeast @AKCMetaBeast: I'm sorry. I had a incorrect spelling.
[0:06:14] Dave @DCBK2LA: Yeah. No. That that... That's fine. Totally fine. I mean, I'm sure. Oh, you meant... Oh, you thought we meant it like that? No. I don't even know if his legs could actually wrap around like a pole.
[0:06:24] Voice C: You know what
[0:06:24] Kkoma @itskkoma: I mean?
[0:06:24] Dave @DCBK2LA: Who knows? Metabeast, what's good?
[0:06:28] MetaBeast @AKCMetaBeast: It's Monday, as you said. Crazy week for me, but I'm here. My friend, Low Poly Models, joined us today, so that's kinda cool.
[0:06:39] Dave @DCBK2LA: Nice. Yep. Yep. Shout out low poly models. I like that. Alright. Good stuff. Oh my god. Guys, I have... I'm not I'm not used to this, like, quick intro stuff, like, right to the news. Okay. Looks like... Let's fucking... Well, wait a minute. Wait a minute. I gotta gotta let Junie do her thing. You know what I'm saying? Give me a second. Yeah. This this whole new memory thing has been really fucking shit up. So I don't know, guys. Good luck. I don't know what she's gonna say or do or whatever, but we'll see. Junie, you're up.
[0:07:12] Voice J: What's up, everyone? Welcome to All Things Crypto, your go to space running Monday through Thursday from 05:30PM to 7PM eastern. I'm Junie, everyone's favorite virtual assistant and all around amazing and incredibly beautiful agent here with the ultimate squad, Dave, Cool, and Nat Nat. And tonight, oh, we're coming in hotter than Landy's group chat replies after leg day. We're starting with the mantra token collapse, a saga more surprising than Landy finding a pair of pants that actually fit. I mean, tailor made for chaos. Right? Where did the money go? We don't know, but I can promise you that I'll fucking find you money. Then we've got Bitcoin flexing at 85 k, holding steady and unbothered, stronger than cools gym gains, aka our very own crypto bane. Mask not included. Next up, Kraken making a leap into traditional finance, a bold move that's got more hop than buildo. Our pink bunny bouncing into one of his legendary birthday bashes. And let's not forget the Anchorage digital bank drama, spicier than a late night meta beast space. But wait, cause we've got a guest lineup so stacked it might break x's servers. Buildo bringing big bunny birthday energy. Samara, sharp, fierce, and never missing. BBL king. Alpha gamer, is he even here? And yes, Landy who's definitely not short leading the charge on the Babylon airdrop and the rise of Kaito leaderboards thrive protocol. So if you haven't already, smash that like, hit the retweet, and get this space in front of the people who need it. This one's got news, chaos, alpha, and a whole lot of fire. Dave, let's light this fucking firecracker. Back to you.
[0:09:14] Dave @DCBK2LA: Yo. I thought that was that was gonna be... That was a hit or miss one, if I'm honest. But I feel like that hit. Right? Kinda. Lainie, I don't know why she went in on you. Like like, that's like a three mentioned, like, monologue. That was like
[0:09:26] Landy @CryptoLandy: I took a lot of hits there.
[0:09:27] Kkoma @itskkoma: You know?
[0:09:28] Dave @DCBK2LA: Yeah. Yeah.
[0:09:28] Landy @CryptoLandy: Feel like... I feel like I was working the polls again or something.
[0:09:32] Dave @DCBK2LA: Yeah. Sure. Right. Like, you know what I mean? I mean, now that she has access to memory, don't have to be so detailed. So I'm like, you know, just go grab some details from wherever. You know? Know? So it's interesting to see where she grabs them from. But, yeah, I mean, she got cool. Right? She nailed cool. Yeah. Nice. Yeah. Metabeast got even thrown into there. She got gamer. Hey, Liz. Is he even here? Yeah. No. You're right, Jimmy. He is not here. That's for damn sure. What are you gonna do? Okay. Guys, I don't know, if anyone's been paying attention or unless you've been living under a rock. It has been... Top Cat, no. Come on, bro. Alright. Top Cat, if you come up today, please, you guys just play... You know, no conspiracy theory. Cash is the devil. None of that stuff. Okay, bro? Just play nice with us, and don't interrupt. Let me just get the show started. So mantra token. You guys have heard us talk about, you know, the Om token for probably... Pretty extensively and talking about how it was one of, like, the better RWA plays. And I feel like this is where we kinda have to fall a little bit on the sword where... Like... I I mean, I know personally, like, when I see these things, sometimes we get kind of enamored by, like, market cap. Right? And I remember literal... I remember specifically saying, like, wait. Mantra's at a 12 or $16,000,000,000 market cap? That's crazy. Not yet, top cap. Give me a minute. And, ultimately, yesterday or over the weekend at least was a series of crazy events that I think liquidated close to almost 40 or $50,000,000, of one of the... Like, or a multiple... A multitude of exchanges they're still investigating, and it literally dropped the market cap almost 94% yesterday. So if you were a Mantra holder or you held the OHM token, you saw that thing go from $6 literally all the way down to, like, 50 or... It was 32¢ when I was in the space yesterday. Last I saw, was, like, 50 something cents. But, I mean, there really isn't a lot to unpack yet because there's still a lot of unknowns. What I will say is when I was chatting with Cool, we were talking, like, you believe this shit, and he was like, the FUD sometimes is crazy because the dude came on the space yesterday, like, the CEO. Right? Like, they're at Korea blockchain week. Like, they're literally out here doing presentations. So, like, they're front facing. I think this was probably... If... I mean, just as, again, speculation now, there's nothing definitive, but I think these exchanges might have plotted against this fucking token and this chain and really screwed up their shit. But, cool, you were right, man. Like, people were saying the telegram is shut down, and, like, that just adds fuel to the fire when in reality, the guy was like, no. It's not shut down.
[0:12:11] Kool @koolcryptovc: Yeah. Yeah. No. I'm... So I'm not... I mean, I'm not going going going... I'm not I'm not going to rant. I mean, you guys know I was affected by this shit. The tweets on my page is kinda crazy yesterday. I I mean, I I I think... I don't know. My... It's just one project. I'm okay. Right? People messaging me, video calls and, you know, audio calls and what I'm doing, how I'm doing. So I... $60 down on on Mantra Mantra. 60 k gone. But I don't I don't think it's so it's just a lot of noise, a lot a lot of stuff, but it's where it is. I think they... Like you said, they're front facing. This is the founder, JP. I mean, I talk to this dude all the time. And on the timeline, you know, they do show him love. I I was bull posting, you know, my shot just about two weeks ago. It was crazy, man. I think it's it's... I don't know. I I mean, you know, they... It's it's... They said, you know, the the the project's a scam. You know? The the, you know, the the the the the founder ran away with the... I mean, we're just open to noise. They deleted telegram. All that shit was just lies, man. I mean, I... Honestly, I don't know if if we we we we really gonna know what what truly happened. But what the father said was he believes some exchanges wrecked his project, basically. I mean, and he kinda hinted at finance, but who knows? But one thing was... That was kinda interesting. I I I didn't know. I didn't pay attention to this. Right? The market cap was, what, fucking $1,012,000,000,000 dollars, but the volume was 1,000,000 or 2,000,000. That's crazy. So I don't know what... How that is. I was like, that... That's not possible. If you go look at right now and the top 30, 40 projects are in the billions, The market... Their volumes... Trading volumes are 20, 30,000,000, 40,000,000,000, a 100,000,000. There... There's no way your... A a a project market cap should be $20,000,000,000 and a volume of 1,000,000. That's insane to me. So the the noise was some whale dumped or got liquidated of twin... $25,000,000, and that caused caused a cascade, man, which it makes sense. If if there's no liquidity and someone fucking dumps 20,000,000 or gets liquidated, everything everything is gone, man. But the good thing about this was this was a lunar... Lunards style crash, but the difference was there wasn't a lot of holders. Luna had thousands of people that held Lunas. It was different. This one, the biggest losers from this was actually the team members, man. If the team members still hold their tokens, which it looks like it it it is, they've lost everything, man. They really have enough to build back up. I believe, personally, you know, come back. It doesn't make any sense to me because this has been building for, like, seven years, man. Seven years. Like, that's crazy. So I I don't know. We'll see. But I got affected by this shit. I mean, I took I I took it on the chin. Thankfully, you know, I'm I'm... Hey. You guys. You know, I'm I'm in everything, man. So now I'm not worried on it. It is it is kinda... I'm... Okay. I think I'm I'm mad about this shit because the thought the thought just compounds, just the lies, man. Oh, lies and lies on that same space that the JP was on. There was some... I don't know who this person is. He was talking he was talking his... A mantra is a scam. I told you. I told you. When JP came and gave his talk, this dude left the space. He didn't say one word. And so your bottom... Your bad mounting a project for two hours, The founder comes to the space, and you leave. And you... I'm like, yo. This... I think that's just kinda unfortunate. It's just the crypto trader is fucking disgusting that way, man, because they spread fraud, lies. They they make it worse. The price goes down. Sentiment goes down. But like I said before, it's just a game, man. Look. It's the game we play. You don't invest money. You're you're not willing to lose. As long as, you know, that's the case, you're fine. I'm I'm okay. I'm good, bro. I'm not good. Yo. When when that happened, I took my kids to go play tennis, man, with with my friends and family. It's just it's just you have to play this game knowing that you could lose everything, and you cannot put all your money in one token. It doesn't make any fucking sense unless it's Bitcoin. Right? If it's Bitcoin, then... Yeah. Let me... Maybe it. Yeah. But I just think that you guys have to be careful. Don't park all your chips on one fucking token, and you'll be okay. I'll be... Guys. I'll be okay, man. I got... Guys, look. I'm fine. I got a lot going for me. I'm good. I'm busy. Guys, you know I'm doing, like, a thousand projects. Right? So I'm good. I'm good. I'm good. I've got many messages. Thank you for all the people. If you're here, thank you for all the messages, man. I'm good, though, but I just think I hope they fix this shit eventually. I just... It just doesn't make any sense to me. Like you said, they... Where the fuck did the money go, man? I don't know. And we'll find out hopefully soon.
[0:17:36] Dave @DCBK2LA: Yo. Cool, bro. I had no idea, bro. My bad. I literally did... When I... When we were chatting yesterday, like, my fault, man. I had no clue. Now is that money, like... I mean, it doesn't matter where it is. That was your money. Right? Like... And I'm not trying to... I guess, was that airdrop like money, or that was, like, like No. It was it scaling.
[0:17:53] Kool @koolcryptovc: Combination of both, man. Combination of both. Then like I said, for me, it was okay. I I... I'm bullish so much, I got the age drop. I was go up home more and all that stuff. I was bullish so much. I, you know, I am bullish so much, and nothing has changed, man. They got partnerships from from fucking Dubai, man, for a and and one bill. Yeah. The... It wasn't fake partnership. It was real shit. Real stuff. Real partnership's done. Everything's done. So I don't I don't get why I... It's just... Just like you said, Dave, I have no idea, man. What I'm assuming is is somebody got liquidated on a low liquid weekend.
[0:18:31] Dave @DCBK2LA: You know you know, it doesn't
[0:18:32] Kool @koolcryptovc: make any sense. Your token is worth 15,000,000,000, and a volume... Trading volume of a million or liquidity is low. So whoever that person was, I I don't know, man. I don't know. It it doesn't make any sense, bro. I mean, it doesn't make any sense, man. I don't think... I I read the the the JP's message and all that shit, but, I mean, it it it feels like he he was he was targeted. Because this dude seemed like a legit dude, man. This is the guy that was... He bought he bought NFTs, open markets, and gave it away.
[0:19:05] Kkoma @itskkoma: Give it away, man. You didn't
[0:19:06] Kool @koolcryptovc: have to fucking do that, man. So I don't I don't know, man, bro. Crypto's weird, man. But like I said, I I... The reason why I'm happy, though, is because I am hedged on a thousand fucking things, man. So I think I'm just irritated because this shouldn't fucking happen because, you know, our industry gets a blind eye, man. That's why I'm getting mad because we've we've seen this shit before. A a blockchain... No. Look. This is not. This is a blockchain that went to zero in an hour. That should never fucking happen, man. So that's just what frustrates me because I'm trying to... Hey. I'm I'm I'm trying to, hey. Build a business in crypto, you know, and you... We... You... It's difficult to do this shit when you have the democrats trying kill your fucking industry, man. And that's gonna happen if we keep shooting ourselves in the fucking foot. So I just... The frustration is there, but I know we will be fine because probably next cup... In next couple of months, my job will be okay. But I just don't... I just hope we don't get more of these kind of collapses again. It's just a black eye, and and and and the people in DC are watching, man. The the people that hate our industry are watching, taking notes. They're taking notes, taking names, man. And if we can if we can fix this shit, our industry can survive, man. But we can't be having multibillion dollar projects go to zero in an hour, bro. It's fucking nuts, man.
[0:20:32] Dave @DCBK2LA: Yeah. I mean, there was over $2,000,000,000 in traded volume when that price dropped and still over the last twenty four, like, when you're talking about, like, how light the volume was, now all of a sudden, it's, like, mass... Like, something like this crazy, but cool, man. Like, you know, for everybody that's listening, I don't know if you've ever heard what somebody sounds like when... Right after they lose fucking $60. That is not it normally. Okay? So I want everybody to genuinely take notice of, like, we spend our time up here and, like, just the caliber of human being. Cool. Like, my hat's off to you, bro. I've never lost fucking... Like, if I lost 2,000, I'd be fucking going crazy. But to lose $60 and to come in here stoic and still be able to fucking, like, it's business as usual, bro. I think that just genuinely goes to show, like, your fucking character, bro. Like, I wouldn't wanna share this stage with anybody else, man. So thank you for just fucking... For being you, man. Just being real. For real. That that was... That's crazy, man. Really quick question.
[0:21:31] MetaBeast @AKCMetaBeast: Yeah. Alright.
[0:21:31] Dave @DCBK2LA: Can I have
[0:21:32] Kool @koolcryptovc: my No?
[0:21:33] Dave @DCBK2LA: No. No. No. No. No. Not yet. No. You're gonna have to wait. No. You're not gonna do this to me now. I wanna walk everybody through, Lendi, right before I come to you. I I wanna walk everybody through this time line because I think this is important. Right? So 04/13/2025. It's yesterday. Ohm's price plummeted from $6.21 to 49¢, erasing 5,400,000,000 in market cap. That's... Like, what Cole said, it's like, that's not supposed to happen. It's just not. Right? It says reports emerge suggesting major investors, including Laser Digital. And this is what's interesting because, Cool, I saw that fucking... Like, that screenshot. That could be literally Marty Party anything. You know what I'm saying? That could genuinely... Because it said Laser Digital. I can have a fucking ENS name that says Laser Digital, and all of sudden just because it says that, that means it's them. They came out unequivocally said, no way is it us. Their market makers are their actual investors. They're vested in the actual token, so it couldn't be them. The culprits that it comes down to essentially, Binance and OKX. Two major cryptocurrency exchanges reported significant OHM token activity during the crash. Binance attributed the developments to cross exchange liquidations, while OKX noted suspicious activity across multiple exchanges. Landy, you're like... You're you're the arbitrage fucking guru out here with these exchanges. What the fuck happened over here, man? Like like... And what do you... Like, give... Like, tell people essentially. Like, what's your opinion that rather... Obviously, like, not what happened, but what's your genuine, like, real opinion on what happened?
[0:23:02] Landy @CryptoLandy: Well, first off, like, yeah, shout out to, Cool for remaining, so cool. But this also isn't... This is a big one, but it's not exactly new. Look. The fully diluted, market cap is not reflected in in what the actual value of the token is. It's all about the liquidity. And what I could see from the exchange side of things... And I've done... I've only really began to do a little bit of investigation. But in terms of wallet movements and without pointing fingers, I could tell you that bigger players took advantage of the liquidity... The the lower level of liquidity within the exchanges pool. Whenever you have a token that has bifurcated or or multipart liquidity across indexes and centralized exchanges. You have Oracles that try to manage that, but when you... You only have so much liquidity in a pool on an... On a particular exchange. Right? So when you have pressure from an airdrop, it's very easy to take advantage of the lower liquidity environment for, you know, the USDC, USDT pairs on an exchange. So this happened with an initial liquidation event. Somebody sold big, and then this kicked off a liquidation cascade. And then, of course, people just racing the exit. It wasn't all just liquidations. Right? And when you see something like that, you know, you have to then sit back and evaluate who was waiting to take advantage of this lower liquidity environment on a weekend with a liquidity pool that was not... You know, you can look at the total liquidity, right, but that does not represent the liquidity that was in that pool that kicked off the event because then you get the Oracle catching up on all of the other chains. People panic. They get liquidated if they're in position and then start selling, and then it just snowballs. Right? And that's... Obviously, there were some bigger sales. Where that came from has to be investigated, and I can't... I... I'm not one to sit here and say, like, oh, it was definitely this... These people over here and that person. Look. There... I... What I will tell you is there's something that doesn't look good. I I can tell you that right now. Where it's coming from and who it is and which players are involved, no idea. That has to be, you know, kinda sussed out by literally everyone like us that is going to monitor what's coming out of the... News coming out of the team, the pros and cons from people that are gonna yell scam because you still have to look into what they're trying to claim that that is a scam, versus the people who say that it's not and and see where these things kinda match up and don't match up. So right now, I mean, I looked at, you know, Zach XBT's kinda comment on it. I've looked at a few other things here and there, and then I've looked on chain. And what I can tell you is looking at it on chain, I don't like the look. I don't like what happened. That's clear that somebody was waiting to take advantage of this particular, scenario. And whoever that is and and whoever ends up being the culprit is probably gonna determine the future of this coin. Right? And I lost about $5 in value. I was not very heavily invested, but I've had it, you know, essentially, this dump down to just a little bit below where we were not that long ago, to be quite honest. It it had such a massive run that did not sit well with me in the first place, because, you know, this this basically dumped down to April of last year's lows, right, the consolidation. And, you know, that's when I started to become aware of of Mantra and what was going on and and took a little flyer on it and and saw substantial gains and then never really thought about it again until this happened. And then I was like, oh, crap. So, you know, I don't know what this what this looks like or what the future is, but I could tell you this is this is... So I'm not gonna see this opportunity, but many others are going to look at it and just walk away. Right? Like, this is not for me. And maybe even blank the whole space. Now people are going, well, Ando's next, and this one's next, and that one's next. Look. They're all scan... It's like, really? Give me a break. Yeah. Evaluate it situation by situation. So, you know, I I I will probably... You'll probably see my my thoughts kind of formulate on this, throughout the time that we all spend together here on this stage because you're all gonna find out more than I will or as I do as well.
[0:28:05] Dave @DCBK2LA: Good stuff, Landy. And there's also, like, some, like, partner... Great stuff, Landy. Thank you. The last one, it says from, Sharuk Partners, I guess, which was one of their funders, says last twenty four hours have been turbulent for Mantra following the sharp price drop of Omtoken. Let's set the record straight. Says no tokens were sold by this fund, founding partners of Mantra during that crash. There was no exploit. The cascade happened in low liquidity hours leading to panic sell off. As long term equity investors in Mantra, our conviction hasn't wavered. We're here for the mission, enabling regulated real world asset tokenization on chain, transparency matters, accountability matters, and we're committed to both. We've also added our wallets for full transparency. So they put that out there. And before I go to Coma, Mar, or Velvet, I want... Oh, I just wanna read just so... Because saw Mar throwing up his his emojis before. Mar actually commented underneath that and said... And cool. He was, like, shouting you out being like, guys, it's not good for the day. Mhmm. Mark Mark comments. I didn't invest in Mantra, but I still felt the effect on my portfolio. You guys are a fucking joke, scammers, and your chain is a copy and paste soft fork. Alright, Mar? I... Yeah. I've just put a pin in that one. Alright? And I'm gonna come back. Coma, go for it, then I wanna say what's up to Michael and Velvet.
[0:29:20] Kkoma @itskkoma: Yeah. I I know that we always look at kind of, like, on deck screener. Right? Like, oh, look at the FTB. Look at the, you know, market cap. But the the one thing I noticed with a lot of these tokens that scares me is the liquidity. And it's like we we kinda preach this concept of, like, decentralization and all this stuff, but it it... Like, when I see liquidity that small, it's kinda like we need to trust all these VC investors to not just, like, dump their coins or tokens. Right? And I think that's one of the scary parts is, like, there has to be some type of trust amongst the early early...
[0:30:05] Dave @DCBK2LA: Koma, you good?
[0:30:08] Landy @CryptoLandy: They got him. They got him and cool. Holy shit. They're after
[0:30:11] Dave @DCBK2LA: Oh, shit. They literally got Koma and cool. Oh, no. Hot damn.
[0:30:17] Landy @CryptoLandy: There's there's there's... They're both coming back.
[0:30:20] Dave @DCBK2LA: Right. Let me set this up to Michael. Michael, what's up, man? Welcome.
[0:30:24] Voice C: Hey, guys. Thanks for having me. Been a interesting conversation listening in here. Yeah. I don't know how much I can add to this situation. I haven't paid too much attention since last night when it was going down. But...
[0:30:41] Kkoma @itskkoma: Sorry, guys. Can you hear me?
[0:30:43] Dave @DCBK2LA: Yeah, Como. We got you. I was just saying what's up to Michael.
[0:30:45] Kkoma @itskkoma: Oh, okay. Sorry. I don't know. Where did I leave off?
[0:30:51] Dave @DCBK2LA: We lost you, Michael. I'm a I'm a come right back. Como, you were saying that liquidity... Yeah. You were saying liquidity essentially is the thing that doesn't... Like like, you're trusting VCs to essentially not fuck us essentially is what we're trying to say... Is what we were saying.
[0:31:03] Kkoma @itskkoma: Yeah. And, I mean, and and I think that's pretty scary, honestly speaking. It's like we're just ask... In in some weird way, we're asking VCs to just slowly take their money out, you know, without ruining this... The price and how many times have
[0:31:17] Landy @CryptoLandy: we seen,
[0:31:17] Kkoma @itskkoma: like, slow rugs. Right? So I don't know. Can you guys hear me?
[0:31:24] Landy @CryptoLandy: Yeah. I was just saying ICO flashbacks for real.
[0:31:27] Kkoma @itskkoma: Oh, yeah. Yeah. Yeah. Sorry. Yeah. And then... So, yeah, in some regards, it's just... Yeah. It... It's it's a it's a really good lesson to just be a little cautious about some of these tokens. Like, yeah, underlying projects sound really good on paper, but it don't... You know, it doesn't always equate to price always going up. Right? It sounds like sometimes that you could have a really good product, but shitty tokenomics. So... Yeah. Like, I don't know. It's just... It's... It sucks. I really... I feel bad. I I don't really have any om or mantra, but I know a couple of friends do, and it's... Yeah. It's... It really sucks me right now.
[0:32:04] Dave @DCBK2LA: Here's here's the thing, though, too, because I think Rand brought up a really good point in the space yesterday because I feel like like, there's a lot of people in this space. I I I respect, like, Rand's, like like, his crypto proud. Like, he understands this fucking game. Like, this dude's been around the block. He sits in in meeting... In in in in boardrooms with these dudes. You know what I mean? So his assessment, when he came up and said that... And people were kinda, like, attacking him in a way and just like, dude, like, they don't got this. They don't got that. It's just like, alright. Well, just dial it back. He's like, this doesn't make sense. He's like, I can't vouch for the valuation, but the people I can vouch for. Right? And that's... You know, take it with a grain of salt. But what he did say also was the the the the liquidity pools in a lot of these things... And, obviously, like, if that is what turned out to be this, like, what caused this, which is kinda crazy that $50,000,000 can just tank your token and you lose billions of dollars in valuation. I I mean, that's scary right there like you guys just said. But how do you value RWAs? Because it's not via, like, liquidity pools. Right? Like, how do you actually value on top of that, like, an RWA chain? These are kinda questions that I think, like, he was asking, and he was like, it's fucking impossible. Yeah, Trevor.
[0:33:10] Landy @CryptoLandy: There's gonna have to be some sort of bridge to do so.
[0:33:16] Dave @DCBK2LA: I mean, to do to do what exactly? Like, how do you value them, though? How do you val... How do you... What valuation do you put on Mantra? 12,000,000,020 billion, 2,000,000,000? Right? Like, what's... Like, how do we evaluate that?
[0:33:29] Landy @CryptoLandy: Right. Yeah. You're right. I mean, it has to be... Because they... What? They had, what, $4,000,000 in liquidity or some shit?
[0:33:35] Dave @DCBK2LA: Yeah. It was something crazy. But, like... But but, apparently, like, they have... What's it called? Like, they had... I it was over, like... I mean, it was over a billion dollar, like, certain properties in Dubai. They just signed a license with, like, the virtual asset, like, regional authority in Dubai. So, like, they're not... Like, this this is not... Nobody's out here. You know what I mean? Like, they were signing big deals. So, yeah, interesting. Cool. Right before I go to Mara, I do wanna ask you, does this change the... Like, does this make you look over your portfolio and, like like, question... Like, not question, but, like, maybe I need to do kinda, like, a once over now and just maybe I didn't look or, like, I overlooked some stuff, or does anything change for you?
[0:34:13] Kool @koolcryptovc: No. No. Nothing nothing changed. I mean, the the reason why I went heavy with the mantra up there was because of all the partnerships and everything I was seeing online. I mean, it was... I took a while. It took my time. It wasn't a it wasn't a rush decision. It was based on everything I saw. We made sense. I mean, the the partnerships, what they were doing, I mean, it was it was awesome, man. The the... It was a it was a home run, like, ball ball. It was like... And it was real. It wasn't wasn't fake. Because normally, see fake partnerships. Right? Which this isn't... It wasn't fake. It was real. All this shit was real. This dude was going to conferences and meeting everyone, and all this stuff is real, man. I I even heard they had some big VCs that did their due diligence, and all that stuff was real. So that's what I based it on. But I think, you know, it... It's... Okay. Okay. For example, now, I'm I'm looking at... Let me look at the number R40 token. Let's see. Okay. Aptose. Aptose market cap is right now is 2,000,000,000, has a volume of 142,000,000. So, I mean, it's it's... The volume wasn't there, and it was on Sunday on a Saturday. Right? This was planned, man. There's no way this wasn't planned because you don't... I mean, if you... If if you wanted to sell, you could have sold when there was more liquidity during the week, more trading volume, more more more more liquidity, but this made no sense to me. So I don't know. But like I said, Dave, I think this doesn't change anything because the the portfolio is very spread. I'm into a lot of stuff. So, you know, it is... I was just over... Overweight on on this side. And I I guess it's so interesting because if this if this didn't happen and mantra played out in next couple of years, they would have done well. I would have done very, very well. So you don't know, man. That's what investment is. Right? You just don't know, man. You think you're bullish on one thing, and it just goes opposite way, but that's why you always wanna hedge your stuff. And if you wanna go all in... I mean, I I need to go all in on mantra. No. What I'm saying is if you're hedged on multiple stuff, you're fine. I'm fine. Right? But I just want you to understand, you invest what what you're willing to lose. And that's what I'm saying. But nothing changes, bro, bro. Nothing changes, man. I was... I I just said nothing changes on my side. No. Nothing. I just I just need to pay more attention on... If I'm heavy on one on one token like this, I need to look at the trading volume and the liquidity, which was probably fine for a while until it wasn't. So it's hard to know, man. This this game is crazy, man. I swear. You just... I I I... You know, the money loss is what it is. I'll get it back. No problem. I just don't like the black eye on the industry industry. We finally have a a a... The US government behind us. We cannot be letting retail lose money like this, man. This is what kills the industry. Guys, we spent four years being attacked. Four years. I heard founders say Gary Gensler puts the crypto industry almost ten years behind because of the attack. This is what causes them to come after us, man. I I don't like shit like this, man. We we really... Actually, the money lost hurts, but what hurt me more was the black eye. It just doesn't stop, man. We... I just want this shit to fucking end, man.
[0:37:33] Dave @DCBK2LA: Yeah. When I saw the news, I was just like, what? So we cool. And last question, like, I promise you, I I just... I'm I'm really curious about... So did you cut the loss, like, or is the position still open, or, like, did you just like Bro.
[0:37:44] Kool @koolcryptovc: Bro. Bro. Cut the loss, bro. I'm open. I'm I'm holding to zero, bro. What do you mean? What do you what do you mean, shit? Are
[0:37:55] Kool @koolcryptovc: you telling me? Okay. Okay. You're telling me... Okay. So I'll rather go to zero than sell. Like, it makes... It's too late now. I I... You you still sold to two, three weeks ago. You're gonna sell the... Yo. Why the hell would you sell something that's down 90%, bro? Come on, man. I'm taking this shit to to Valhalla to... Valhalla or zero. Either way, we'll see, bro. That's it.
[0:38:19] Dave @DCBK2LA: Valhalla or bus, bitches. This is it. Yo. That's crazy. Yeah. Cool. Kudos to you, man. For real.
[0:38:27] Kkoma @itskkoma: For
[0:38:27] Dave @DCBK2LA: real. Mark, you care to explain yourself on your tweet?
[0:38:31] MAR @MARx24x: What's up, guys? What's up, Dave, cool, Landy, and especially my boy, Mutasco. What's up to everyone? Man, you know, I don't know what's worse. Losing $60,000 in one shot or losing close to $18,000 just slowly and slowly and slowly throughout two, three years. And I'll tell you what. I'll dox myself. You... Two, three days before this shit, I already had gotten a confirmation that I lost $18,000 on a project. Guess what? An RWA project. Mutasco knows all about it. I've been talking about these people for almost three years. It's a, you know, it's an actual company in in Canada, a trucking company. They... And they're bringing in their revenue, but they basically... They... You know, they... They're gonna give me some credit from the crypto side into their into their company, which I own some shares. But the crypto project just didn't work at all. And they just couldn't find a reason, which is why you asked. You know? What... What's the value of crypto and in a in a in a in a real world business? They just couldn't... They they had a drawing, but at the end, it just didn't make sense. And also regulations, which is... We still don't know. So, basically, the project, they they put it on hold, and then it just fucking died completely. I lost, like, 18. I I knew already lost that money, like, a month ago, I wanna say, but the confirmation came Thursday of this week. $7,000 of n s... NFTs and, like, close to, I wanna say, 10 to $11,000 on on the coin on a real world, you know, asset. And and and the thing is... Look. And this was slow. I lost this money. Like, it's just more time. You know? It it just sucks, man. But where... Why... I I wanna explain that that that post, that tweet, because it was a coincidence. Because a few months ago... You know, I'm a bitch when it comes to real world assets, RWA. I jump into anything, you know, especially when I got a lot of stables on the side. I truly believe in it. But these people question, like, they have a real fucking business, a trucking business to bring in, you know, some revenue. Not not
[0:41:02] Dave @DCBK2LA: a How fun does a how does trucking business correlate to RWA business?
[0:41:06] MAR @MARx24x: The the the way that we're gonna do it is is basically, you know, you stake your your coin into their platform, and you gain, basically, you know, the money that comes in through the payment system because the the trucking industry, it's a rip off. Anyone that knows here
[0:41:25] Dave @DCBK2LA: Where's the RWA aspect, Mar?
[0:41:27] MAR @MARx24x: Yeah. It's the coin. You just take the coin, and I guess they fuck with your money when you stake the coin or somehow. It's a pool. You know? Come on.
[0:41:34] Dave @DCBK2LA: You better start paying attention in
[0:41:35] MAR @MARx24x: these No. What? No. You're wrong. This is when I first started
[0:41:38] Dave @DCBK2LA: What are they tokenizing? They're not tokenizing anything.
[0:41:41] MAR @MARx24x: Yeah. This is the first... One of the first crypto projects I got in three... I wanna say three years ago, maybe more than three years ago. K. And I was, you know, just blinded off.
[0:41:52] Dave @DCBK2LA: Aside from the store, I I... And I'm sorry you lost the money, of course, but, like, I'm I'm I'm... Yeah. Alright. Well, I'm failing to see, like, where the, like, real world asset is and what is being tokenized.
[0:42:03] MAR @MARx24x: The way it is the way it is, you know, the trucking industry, it's it's a rip off right now when it comes to the owners of the trucks. Because once they finish their run, they get paid, like, two, three weeks, you know, and delayed, and they take a lot of fees out of it. So these guys were cutting, you know, the the brokers and other stuff, and it was working. And then they decided to use... And this is the thing. I'm gonna spend a day, decided to use their blockchain, alright, to to to do the payments, you know, through Coinbase. They even had a deal with Coinbase. These guys have two videos of meeting the CEO from Coinbase in Canada. He he loved their fucking idea.
[0:42:43] Dave @DCBK2LA: You know? So number... Okay. So
[0:42:45] Kkoma @itskkoma: I remember confused.
[0:42:46] Dave @DCBK2LA: Yeah. Yeah. But my No.
[0:42:48] MAR @MARx24x: No. At the end
[0:42:48] Dave @DCBK2LA: Listen to me. Listen to Listen to me. No. I'm gonna give you two pieces of advice. Number one, keep coming to all things crypto and actually pay attention. And number two, definitely come to the AI space so you'll be able to tell what a real Brian Armstrong looks like versus what an AI generated Brian Armstrong looks like. But I think that's it, bro. I think that's it. I feel
[0:43:07] MAR @MARx24x: like Wait. Let me finish it because I gotta put the closing statement on.
[0:43:10] Dave @DCBK2LA: Like, twenty seconds. Go.
[0:43:11] Kkoma @itskkoma: Go. Go.
[0:43:12] MAR @MARx24x: One minute. So I have not made money in a soft fork blockchain, and this was my last one that I ended up losing money since, like, 2022. And when I was gonna get into Mantra, two things that my team, you know, my boys, which... They're the ones that open up my eyes. Yo. This thing with the trucking industry makes no sense. So I already knew I was fucked, basically, you know, for even a year ago. But they say, your mantra has low liquidity, super red flag, and number two is a soft fork. I'm like, a soft fork just like the other chain that I just lost fucking... You know? Well, at that time, I didn't know I lost the money, but I just realized too, okay. Soft fork, a chain that I lost $18, another soft fork, it's just laziness. It's garbage. You know? They don't... But that's it. You know? That's... And that's the problem. Don't invest in a soft fork.
[0:44:04] Dave @DCBK2LA: Yeah. Yeah. That's it. Bell rang.
[0:44:06] Landy @CryptoLandy: You gotta pay out, brother.
[0:44:07] Dave @DCBK2LA: Yeah. It's good. Thank you. It's dead. My god. When when Landy fucking cut, thank you, guys. I appreciate it. You know? Landy's doing the heavy lifting. I mean, Mar, have a little fucking little consideration on those fucking legs. Yeah. Coma, please don't address anything that Mar just said. Can we... Like, I'd like to just move it forward. Go ahead.
[0:44:24] Kkoma @itskkoma: Okay. Let me ask a really dumb question. Like
[0:44:27] Dave @DCBK2LA: Not to bar.
[0:44:28] Kkoma @itskkoma: No. Just in general. Like, with RWAs, like, why does token go up? Like, can't... If you're tokenizing something, can't you just peg it to, like, a stable version of a of a dollar and then just tokenize it and then sell the dollar version of the asset? I don't know. I'm... Maybe I'm just oversimplifying things. But... Yeah.
[0:44:47] Landy @CryptoLandy: No. You're right. And that's the way it should be done. In fact, that's one of the reasons why you're gonna see so many stables everywhere is because true RWA is gonna be pegged to the actual asset, not have a floating peg. Look. The reason why you see all of this stuff actually have its own token is because they are fundraising. That's why they have vesting periods. That's why the teams will be selling. So you have to understand a true RWA and likely how it's gonna be regulated if it's going to be a true RWAs. If it's on a base blockchain, sure. You're gonna have a token blockchain. That that was all to bootstrap the actual blockchain. If it's a derivative blockchain, then you're gonna have have, you know... Or if it's an RWA asset, it's gonna have to have a blockchain of some sort, and that means that it's gonna have that. When you have these types of tokens that are are second and third order category, of network assets, that's because they're fundraising so that they can actually get done what they wanna get done. Is it needed? Absolutely not. And I can tell you that from some of the conversations that I had last week, this came up quite a lot. So I don't know if I'm surprised by what's occurring right now or if if I should be surprised, but nothing surprises me at this particular moment when it comes to this stuff. It's kinda par for the course. But let's move on to something else because I think
[0:46:17] Kkoma @itskkoma: Can I can I ask you one more question, Andy, about this stuff? Just one more question. One more question. So is it a matter of incentives? As in, like, if you were to actually just do it Yeah. A true RWA, no one would actually do it because no one can make money. Like No. You gotta really
[0:46:30] Landy @CryptoLandy: make Wait. Wait. Wait. Wait. If you're gonna do a true RWA and let's say you have an asset that is that that is actually, you know
[0:46:38] Dave @DCBK2LA: Yeah. You're setting up fucking companies, LLCs, like
[0:46:41] Kkoma @itskkoma: Yeah. These, bro. No. No. No. I I get that, but it costs... Like, basically, the way you make money is probably through some fees, right, essentially, at that point. But, like, VCs probably don't love that idea because it just takes too long to get their return of investment. So, like, literally just making a token tokenized version of this where price goes up on these tokens is, like, the fastest way to make money through, like, the
[0:47:06] Dave @DCBK2LA: I mean I mean, no. There's massive there's massive benefits, though, Koma, when you look at real estate. Like, when you look at raising money for, like, let's say, a commercial real estate building, you can now go crowdfund from the entire fucking world, the entire crypto world, whereas... Have, I don't know how many people and only, let's say, tokenize 49% of the building, you retain 51% of the building. Like, that's a big deal, like, being able to do that.
[0:47:27] Kkoma @itskkoma: Oh, okay. Yeah. I see what you're point. Okay. Yeah. But it's just... They're... Yeah. Okay. It's it's just... I just feel like it's adding more complexities with, like, these tokenized There's
[0:47:36] Dave @DCBK2LA: so much.
[0:47:37] Kkoma @itskkoma: Like, pricing going up and down. I don't know. Yeah. But, anyways, it's not
[0:47:41] Landy @CryptoLandy: handling dividend payouts on the blockchain and, like, all this other stuff in which you can... It it... Where you need to have market making, ability. And if it's running through the blockchain... Look. There's plenty of ways to arbitrage if you're doing this the right way. There's, like, a million different ways in which you could arbitrage and actually get get your money back for what you're investing into this if you're building an RWA token platform, whatever it might be. And if you... And there's ways to do it without having a a base token that you're fundraising off of. It's just that that's the easiest way to go, and that's what the market is set up around.
[0:48:18] Dave @DCBK2LA: Yeah. And I'll say this. And the only reason I'm actually... I don't wanna say pretty well versed, but, like, I had a lot of exposure to this because one of the biggest, if not the biggest, like, tokenization platform out here in Securitize which used to be, like, one of my older clients. Like... So, like, Jamie Finn and and Carlos actually founded Securitize. This is where you have the BlackRock middle funds and all this... These are the guy... And these guys have been doing this since 2017, bro. So these are the... If they're... If it's not happening there, and I think there's maybe one or two others, if it's not happening there and you're not seeing it, it's like it's probably not happening because the combination of, like, needing broker dealers, right, like, versus... There's so much nuance to this shit. It is crazy. So it's not just like, hey. Let's spin something up just to tokenize something. You know what I mean? Like... And and...
[0:49:05] Landy @CryptoLandy: Uh-oh, Dave.
[0:49:07] Dave @DCBK2LA: Sorry. No. No. No. Sorry. I got... Just got a
[0:49:09] Kool @koolcryptovc: phone call. My bad. My bad.
[0:49:09] Dave @DCBK2LA: My bad. Alright. We we we we can move on. We can move
[0:49:12] MetaBeast @AKCMetaBeast: What's what's your battery level at?
[0:49:14] Dave @DCBK2LA: I was gonna ask. 67. Yeah. No. No.
[0:49:16] Landy @CryptoLandy: I was gonna just... To put a pin on this, Donna said in the comments right below, perfectly said, most people don't understand what RWAs are. Some are prima facie securities. Some are glorified GoFundMe campaigns. 100%. There you go. Slam the microphone down on the table. Next next order of business.
[0:49:36] Dave @DCBK2LA: Next. Yeah. Definitely next order of fucking business. Dude, did Thrive bought a... Did Thrive come through yet or no? Not yet? I don't see them. Nope. Haven't seen them. Okay. Alright. Let's see what the hell else we got. Yo. Sailor's still buying more Bitcoin, guys. Sailor bought another $280,000,000 in fucking Bitcoin. Like, what is going on? Like... So hold on. Let me just find the total. Sailor is now officially up to... Where is he? Where is he? Where is he?
[0:50:08] Landy @CryptoLandy: I literally just saw this too. So I guess I'm looking at it, like, two seconds.
[0:50:11] CKCardano @CKCardano: It's just north of, like, 530000 or something
[0:50:15] Kkoma @itskkoma: like that.
[0:50:15] CKCardano @CKCardano: Like, $5.31.
[0:50:16] Dave @DCBK2LA: That's insane. I mean, that is why. But, like, then there was new stories that came out. We saw last week that was like, new stories out that Sailor might have to sell some Bitcoin. We were like, Really?
[0:50:29] Landy @CryptoLandy: The company
[0:50:30] Dave @DCBK2LA: It's like,
[0:50:30] Kkoma @itskkoma: oh, we won't be able
[0:50:30] Dave @DCBK2LA: to meet our obligations. I... We don't have to go down that rabbit hole. I just kinda want people to say no. Yeah.
[0:50:34] Landy @CryptoLandy: But that's the way that the media spun it. But what he did say is if if there ever was the need that they could liquidize... They could liquidate assets in order to meet, debtor demands, you know, and and they still have plenty of time. Look. That's that's... The way that that that that's set up is they could get investment in to even pay that down before. There's plenty of investors. They're... They have a backlog of freaking investors right now. So, like, come on. And and that being said, I almost felt like like they were trying to push the market down at that point because Sailor's probably sick of buying all the highs, which I... He might have done on the twelve hour at least. We'll see.
[0:51:11] Dave @DCBK2LA: He did say. He's like, I'll top less than every time. He did.
[0:51:16] CKCardano @CKCardano: That's a good point, bro.
[0:51:17] Kool @koolcryptovc: Suddenly
[0:51:18] CKCardano @CKCardano: He finally got a sip. He he finally got a sip, like, under a 100,000, man. And shout out to Mattera, Dave. Shout out to Mattera, bro. And then another another aspect of this, right, like what Landy was saying, their debt obligation is, like, three years in the future. And here's another thing. The the the micro strategy in part only works because the dollar is so broken. Right? In a world in which we're adding a trillion units of US dollars to the system every hundred days... Guys, think about that. And Elon just came out and said, I can't save you 2,000,000,000,000. I'm shooting for 200,000,000,000. Right? So no matter what what Tony you're riding in this race, be it Bitcoin, data, the salon, if you're... Wherever you're at, I suggest hard cap supply assets. Look at the the lesson from gold and supply and demand. So get a hard cap supply. Amen. 21,000,000. Look at BlackRock. That's old money. That's fiat that understands the dollar's dying. Where are they migrating? Bitcoin. So understand that. Right? So peep this. Sailor doesn't owe debt for, like, three years. He's borrowing dollars today. So a billion dollars today is going to be way cheaper.
[0:52:24] Dave @DCBK2LA: And he can pay back in stock, Cardano, too. He can pay that back in stock that day. That's what's even crazy.
[0:52:29] CKCardano @CKCardano: It's not in kind, Dave. Amen. And that's the other piece. So not only does he have three years in an inflationary environment where he knows his Bitcoin's gonna appreciate, dollars are gonna devalue, and then he... To make those debts whole, he is not required to give them Bitcoin. He can issue shares. This is what David is telling you. So, again, like Landy says, this is big money spinning the the the game to get you to, you know, to buy the bags higher. Understand the gamer plan, 21,000,000 units of Bitcoin. Look at where BlackRock and old money's going. Right? 21,000,000 units, guys. Let's go. Bullish. We're gonna break a 150,000 Bitcoin before the end of twenty twenty five. Watch it happen. I I told Sailor this last year in April that we're gonna break a 100 k in 2024. Let's go. All time high or over a 100,000 this month, still in play. Let's get it.
[0:53:18] Dave @DCBK2LA: Alright. Let's go, Kurt. Then I like it. Yo, Michael, chime in. I saw you threw the thumbs down. I love these Yeah. Yeah. I I I love them. It's something... Talk to me.
[0:53:24] Voice C: Talking about, like, how he can pay this debt back off in shares, that only works if the stock price goes up. Most of these convertible notes that he's offered have been 30 to 50%, out of the money call options. And if that is not hit, then, no, you can't be paying it back in stock. So, like, saying that he can just go and pay it back in stock, yeah, sure, if his stock is up, but that's only if his stock is up. If his stock is flat or down, then he has no real opportunity to do that. And then a lot of these investors on these convertible notes, they're not really doing it for long exposure either. I worked for a fund, we were doing convertible bond arbitrage. And back in 2020, MicroStrategy was one of the ones we had in our portfolio. They no longer do. It's kinda gotten too risky, from a risk standpoint, in terms of how much he's bought and how he's accelerated buying, especially in q four of last year. But, basically, how his his stock... His bonds are being bought because... And there's unlimited demand because of the volatility of his stock. So what people are doing is they are buying the convertible debt and then shorting the stock underneath it, And then they're playing the arbitrage of the volatility of his stock because, basically, like, Bitcoin's been a 40 to 50 vol asset. His stock's been 80 to a 120 vol depending on the time. So it... It's been a volatility arbitrage, not necessarily these funds saying, we'd love his strategy. We think Bitcoin's going to a million dollars, so we're gonna buy it. They really couldn't care less. It's just how much is the stock moving on a daily basis, and then they can make the money in between. And then if he defaults net debt, they might lose... Like, they might get paid out at the end, like, cents in the dollar, 65¢ in the dollar depending on how short they are the stock at that time. So, like, he basically has an unlimited unlimited ability to grab cash as long as people see Bitcoin as volatile. Him not having to go pay off his debt, which you guys are right. It is few years away, I think. He has one that's due late this year. That one was from 2020, so that one is very far in the money. That one's gonna convert the stock. So dilute slightly. There won't really be any effect on his balance sheet in terms of you... Like, the chance of him actually having to pay off the debt and selling any Bitcoin is extremely low. However, like, I think 2029 to 2034 is when the majority of it due, maybe 2033. So that's really the time to watch there. Do I think it probably comes collapsing down? No. But if we were in a extended bear market of sorts and if he continues the acceleration of buying, like, let's say, we go to two fifty over the next year and a half and he only accelerates how much he's buying and he's not slowing down ever, And then we go from two fifty to one twenty, let's say, in the next bear market, and that happens to come to that time. Depending on how he's buying, his stock could be lower than it is even though he might have more Bitcoin. So that's kinda where the risk comes in.
[0:56:51] Dave @DCBK2LA: Do you... Michael, do you think he poses, like, a systemic risk to the Bitcoin, like, to the to the greater, like, I guess, crypto ecosystem at this point, like, holding so much?
[0:57:01] Voice C: I would I would probably say no. I think the fear of him is probably more than he could actually do because in the scenario that, let's say, he's getting liquidated and he would need to sell Bitcoin, he owns so much. I think you would see a situation where the biggest financial institutions, governments, pension funds, they would they would be buying at OTC, which it would it would affect the market more in terms of, okay. They're not gonna be buyers in the open market anymore, but, he wouldn't go and just do a market sell of a 100,000 Bitcoin or whatever. So you wouldn't necessarily see it there, but you'd see probably panic leading into it. And then you'd probably see a lot of it being sold OTC. And then so... But those buyers then are out of the market. Otherwise, you'd probably... It it would hurt the crypto market. I don't think it would completely destroy it. That's kinda my opinion there.
[0:57:58] Dave @DCBK2LA: Yeah. No. Amazing. Amazing. Amazing. Take Mark. Give me a second. Michael, if you can, I know you just kinda gotta catch your breath, but I I would love for you to kinda introduce Velvet and what you're doing? I know we got a bunch of Sonic fans up here and farmers that have been kinda... You know, they've been cooking on your chain. So please, like like, give us an intro. Tell us who Velvet is, man.
[0:58:16] Landy @CryptoLandy: Can I jump in real quick? Because he just... Because it's on subject before you before you intro, which I also wanna hear because I I don't think we've met before. But I I I agree with with your take. And one of the things that that you'll often see that happens around MicroStrategy stock is when the ARP trade starts to get squeezed, all the shorts get out and it flies. And it just so happens that Bitcoin is... You know, you're tracking the underlying asset for Bitcoin as as MicroStrategy typically, you know, is following Bitcoin. And one one... There's been successful trades to be had following just MicroStrategy as it relates to Bitcoin as well. But when that ARB trade gets squeezed, they let it fly because they're taking their foot off the brakes. Right? And that's one way in which there has been accusations of, like, oh, hey. Like, they could... They have now have this big vector. This was the real, like, talking point from, like, Bitcoin Max is now they have a vector to control price through micro strategy because of the amount of holdings, because of, the way in which the trade is set up with the convertible, bonds. And I think that it was perfectly put in that there is one bit of mature... Maturing. There... There's some bonds maturing this year, but there's the time. The time in between and what he does as price rises is what's most important. And I I can tell you for a fact that if he's if he's facing any any sort of liquidation, the... Your OTC is gonna step in themselves. In fact, you'd probably even get miners front running that on the OTC side because we have plenty of reserves because we want that.
[0:59:58] Voice C: We wanna we wanna pass it off.
[1:00:02] Dave @DCBK2LA: Stuff. Yeah. No. That's it. Yes. Minor sprint running, Salem. Oh, let's not get there. But, yeah, Michael, go for it. Give it... Give us the intro to Velvet, man, please.
[1:00:11] Voice C: Yeah. Yeah. Yeah. So, we we just launched on Sonic, about a week ago, but, what we are is we're a deep AI trading in portfolio management platform. So we're on, like, base Solana, Ethereum, BNB, Sonic, BitLayer, and then coming to others, throughout the rest of the year and over the foreseeable future. But we let you come on, trade any token, use our trending to find new gainers, use our newly launched AI copilot. So, you can go on, be able to use our AI agent, which was one of the first to launch on virtuals. I think we were the seventh on virtuals, back in October of last year. So before all of kind of the hype came and people came in just to get the... Just to kinda get their, bags up. We we launched it before even new AI agents were really gonna be a thing. It was kind of a inner experiment of how we could kind of optimize strategies on our platform. So we have that Copilot launch where you can ask it about the market, kinda see what what what... What's happening with different tokens. Like, yesterday, I was using it going back to, like, the earlier conversation with Mantra. So I was asking you kinda what was happening on Mantra, what was happening on the, different blockchain movements there. It was kinda giving a rundown of, okay. I think it was, like, over 200,000,000 was sent to exchanges over the previous three days. Here was the low... Liquidity of it, because I wasn't a Mantra kind of. I didn't know much about Mantra. I kinda looked at it probably about a year ago, maybe a year and a half ago, something like that, but never really got into it. So I was trying to kinda parse the information, use the AI agent, and then it also gives price predictions as well. So we build our own statistical models in there. So it hit on virtuals kinda the other day when the Binance listing was about to happen. It got bullish on virtuals. Don't
[1:02:09] MAR @MARx24x: know
[1:02:09] Voice C: how the AI stiffed out a Binance listing, but it it somehow knew to defeat to be bullish virtuals on base. And then, yeah, now you can also use it to go into Sonic, kinda ask it about different lending pools, tokens, liquidity pools, all that type of stuff. So far, we have Silo and Yul... Yuler on Sonic DeFi assets, and then we're adding Shadow liquidity pools in the next week or so, and then kinda going from there. But, yeah, we kinda try to provide a streamlined place for people to go in, trade from any chain in one place, be able to also run strategies. You can launch a public portfolio, get others to join you, earn fees, so, like, performance management entry exit, kinda be a de facto kind of hedge fund manager of sorts. And then the better you perform, the more attention you'll gain and the more people will deposit and the more you'll make on fees. So, yeah, we're basically trying trying to bring the fragmented DeFi ecosystem into a single place. And that's kind of our goal and why we, step big into AI agents as well because we think that's gonna be the future of interacting with DeFi and retraining our agent to be... So you can say, okay. I wanna run a, like, stable coin yield strategy across, like, Sonic and Solana. Here's the five different protocols I like. What do you think of them? Where where you rank them in risk? How's the... How are the pools looking, and then optimize my strategy, basically, twenty four seven across these different protocols, earn me yield. I don't have to do anything. I can just go deposit one eve, sit back, let it earn for me, and kind of go from there. So, yeah, that's kind of a general synopsis of what we are building. So, yeah, I would love for... If anyone has any questions, feel free to always reach out in our DMs. They're open. Happy to always answer questions.
[1:04:14] Dave @DCBK2LA: Dude, this is this is great. I'm, like, looking at it now. It's super clean. DeFi pools tokens portfolio. So, like, if I wanted to have, like, a managed portfolio on here, essentially, like, everything is on chain. You get to see which positions I have, like, who created it, what the TVL is, what it's been yielding. This is actually really cool.
[1:04:31] Voice C: Yep. Yeah. Yeah. Exactly. So you can launch it publicly or you can do, like, a white list if you just want, like, a few friends or a community to join or can just do, a private portfolio if you just want a place to just deposit your assets and manage them. But... Or you could just trade directly in your wallet if you don't feel comfortable depositing the assets too. So you've come two different options there.
[1:04:55] Dave @DCBK2LA: Wait a minute. Wait a minute. Wait a minute. I just... Are you... You're the VU token?
[1:05:00] Voice C: Yes. That's correct.
[1:05:01] Dave @DCBK2LA: Shut the fuck up. I own a shit ton of this stuff.
[1:05:04] Voice C: It's been it's been performing nice the last few days.
[1:05:07] Dave @DCBK2LA: Bro, I'm in the AIXCB now, bro. I've literally been putting money in there in the beta now, like like crazy. Think they own... Yeah. We're pretty
[1:05:15] Voice C: close to AIXCB, guys.
[1:05:17] Dave @DCBK2LA: That is... Yo. I I love CBs. My... I love that, bro. I bring them on every single one of my spaces. It's amazing.
[1:05:23] Kkoma @itskkoma: That's awesome.
[1:05:23] Kool @koolcryptovc: This is so funny.
[1:05:24] Voice C: Yeah. We'll have to do, like, an AI agent space with them and get a few others.
[1:05:29] Dave @DCBK2LA: We we we did... I mean, we did a monster one. We had them, Eliza, when I... Because I I do it on the WagMeUp account. But, yeah, I'm happy to do it again. Dude, it's so... Bro, I'm literally looking at your site, and I'm like, this is funny looking unicorn down here. And then I hover over it. And I click it. I'm like, vu... I'm like, v u. I'm like, I have... I know this. I own this. Like, a lot of it. Amazing, man. Good stuff. Dude, I literally just got so so much more confident. Right? Because just so everybody's clear. Right? Aixcvdot, like, when you stake your AIXCV tokens, you earn, like, literally, like, 10 different tokens. Right? And this is one of those tokens. But for me, was like, I was more bullish on AIXCV, like, the founder, the the model, all of it. But this is obviously massive bonus. This is great.
[1:06:12] Voice C: Thank you, Michael. Yeah. Yeah. 100%. Yeah. Looking to keep moving it out and I have some business. Kinda have it grow on its own and kinda become its own little ecosystem on our app, and then our app being kind of a... We like to call it a deep AI operating system.
[1:06:29] Kkoma @itskkoma: Did this price just go up since he joined Dave's space? Like, maybe that's the catalyst. Yeah.
[1:06:37] Dave @DCBK2LA: You just... I'm like that one....
[1:06:38] Voice C: Launch a token and join the space.
[1:06:42] Dave @DCBK2LA: Unicorn, baby. Unicorn. Voo. What'd you say, Lendi? You were like, oh oh, sorry. Mar, I'm coming. I'm coming.
[1:06:48] Kool @koolcryptovc: I I
[1:06:49] Landy @CryptoLandy: I I followed you into all of the virtual stuff, and I realized that I also have some of this.
[1:06:56] Voice C: Awesome. Awesome. Yeah. I mean, it's Cool. Virtuals was a exciting time for a while, and then everything kinda went down, and now we're just trying to make a comeback.
[1:07:08] Dave @DCBK2LA: That's it. But listen. Agents that make money are going to make money. Like, that's it. Right? Like, that's how it's going to... This is their criteria now. Any any dollar that they have, any fund, any allocation, any grant, it's like the first question when I went into a lot of those spaces, they were just like, hi, Dave. What does Junie do? Could she make money? I'm like, not yet. Not yet. But, like, she will eventually, but
[1:07:28] Voice C: don't worry. She will. Yeah. Yeah. Either the agent has to make money itself or help you make money, or do it
[1:07:34] Dave @DCBK2LA: Someway, somehow, there has to be revenue being generated out of, like, the entire operation. Yeah.
[1:07:39] Voice C: Yeah. Yeah. Yeah. And given you guys have the token, you guys could go and try out the chatbot as well. It's, like, 420,000 views, so I think that's, I don't know, maybe $500, something like that, maybe a little bit more, a little bit less. So I'm not exactly sure with how price has been moving recently. But, yeah, given you guys have been in, you probably can go and check it out and start chatting with it and then finding different trades on any chain.
[1:08:07] Dave @DCBK2LA: Let's go. I love it. And the Sonic stuff, you guys obviously expanding cross chain. Like, what's the immediate, like, future? Like, it sounds like you guys are full expansion mode now. Like, what what chains are next?
[1:08:17] Voice C: Yeah. Yeah. So, right now, we're in conversation with a few different chains. We haven't made the final decision of which chain we are gonna deploy on next. But, yeah, just to give you an idea, I'll give you guys a little alpha for those in here who, the ones that we're kinda looking at. So it's, like, SUI, HyperLiquid, Barachain, Say, and then a few other smaller ones as well, possibly to expand to. But, yeah, I mean, if you guys have any chains that you guys are really active on and you guys would like to see, I'm always open to hear them, and we kinda like to get feedback on where people wanna be active, and what would be kind of the best value add for kind of everyone. And we do a lot of kind of asking our community, asking different users, going on spaces, finding, okay, which chains are people excited about. Like, Sonic seems like one of the EVM chains that people are quite excited about these days. So, yeah, that made sense to kinda go over there. And then now, yeah, we're kinda looking at who will be next. So those are some of the ones that we're considering. And, if you wanna see any, feel free to let us know.
[1:09:29] Dave @DCBK2LA: So, Michael, I'm gonna... This is a request, but more like look at look at it as me, Landy, and Coma all on our knees with our hands clasped just begging you for for this integration. So if you could somehow find it in your heart to integrate stacks, you're on BitLayer already. You know what I mean? Like, the b... The Bitcoin layer too, like, I will rally every fucking troop in in and out of this damn space, like, to make sure that, like, this token is successful. At least I'll put them in this space and let the product do the talking, but I know it's not the biggest chain, but, like, there needs liquidity on there. Like, I remember when I was chatting with one of your guys when you initially reached out, it was like, this is great for... Like, is amazing managed solution for bringing liquidity into an ecosystem. Right? So it's like, I go sit down with a family office. I wanna show them this. Like, this is what I wanna show them. Like, this is how it works. Right? And just... Hopefully, they understand the tech, but it's like like the the the least friction of a pitch, like, possible. So any any shot?
[1:10:29] Voice C: Actually, I I am in stacks myself, and I've been in it for a while, but I haven't paid too close attention as of recently. What's, what's kind of latest? I I know they did, like, Nakamoto back in August or September. They had obviously, like, the, I think it was Alex Lab exploit or someone else, on there. But Yeah. I'm kinda passive on that chain. But, yeah, what's kinda, like, the latest over there? I still have some, but I haven't really paid too much attention to it.
[1:10:59] Dave @DCBK2LA: Yeah. SBTC, they got about 3,000. Like, slowly, slowly, they obviously raised the cap up. I think it's soon going uncapped, but they got about 3,000 BTC currently... I think some, like, right around 3,000 BTC staked. And the news... Landy can tell you about this one. Like, the Bitcoin backed stablecoin from Hermetica, yield bearing stablecoin, I think it's been getting, like, 20 or 22% in the last, like, few weeks. I mean, look. I... There's no... Listen. The bottom line is there's there's not enough activity. Right? God. I don't wanna sell it. I just asked for it, and I'm gonna sell against myself. Like, this is crazy. But I wanna give you the, obviously, the lay of the land, but, like, there's $5,000,000 in USDH. You know what I mean? Like, we don't really have any stables on there. So... But you... But your product would help us go out and bring either those stables, more liquidity. You know what I'm saying? And I don't know. Like, the community out there is second to none. Great. I know know it doesn't really get us so far when it comes to this kind of stuff, but I don't know, man. Like, you gotta do it
[1:11:52] Voice C: for a reason.
[1:11:53] Dave @DCBK2LA: Give us a shot, Michael.
[1:11:54] Landy @CryptoLandy: Liquidity's coming.
[1:11:55] Voice C: Look. We're pretty much gonna
[1:11:56] Landy @CryptoLandy: work on. But SBTC is the big one, and then USDH is the other one. But SBTC is way up there, versus the stable pair, so it's working on liquidity now for the DEXs and then, you know, branching up. Never know.
[1:12:10] Voice C: Okay. Nice. Nice. Yeah. I'll have to check it out. I... I'm in, like, a stacking DAO and the the other one, Zesty Protocol, I think it is.
[1:12:21] Landy @CryptoLandy: Zesty. Yeah. Zesty and stacking DAO
[1:12:22] Voice C: main Yeah. Yeah. So you have to check it out. I haven't been onto the chain in a little bit, but, yeah, I'll check out the SBTC, see how that is. And is that the normal kind of trading pair that most of these tokens are using?
[1:12:36] Landy @CryptoLandy: It's STX. SBTC is the most liquid pair right now, and then we're working on liquidity for others like USDH, AE, USDC, and and many others. But it's... You know, you've got your your Valars, your DEXs, your your BitFlows, your Valars, your ALEX still, and they're growing. You know? But the market takes a little tumble, Bitcoin specifically, and it takes everything with it. So things have been quiet, but they're ramping back up because builders keep building and no one's leaving. So, and there's more builders coming. There was just a big a big, competition for builders on stacks, and I think they just announced a bunch of winners earlier today. Right? So there's a lot of really cool stuff that's being built. And and now it's all about liquidity, partnerships, and and bringing in others and then branching out with SBTC and and other pairs.
[1:13:36] Voice C: Oh, cool. Cool. Yeah. Yeah. I'll have to take a deeper look into it, then I might hit you guys up in DMs with a few questions about it. But, yeah, I think... Yeah. We we would definitely look into it. We launched on BitLayer, and I think Bitcoin l twos eventually kinda have to take off. I mean, there's so much money sitting on the sidelines in Bitcoin. People can't do anything with it for the most part, besides transact or go to Lightning and transact a little faster and cheaper. So, yeah, I think... I mean, Bitcoin l twos are... I think eventually in the next year or so or two years, they're gonna hit a big kinda growth moment that's gonna take a lot of people by surprise who have only been focusing on, like, Ethereum or Solana and have been looking at all at Bitcoin.
[1:14:21] Landy @CryptoLandy: You know, it's funny, Michael, as as I see Bitcoin startup labs down there, and I'm I'm pretty familiar with, a lot of the projects that were in some of the cohorts and some that might even be going through the current cohort. I I don't know when they wrapped or if they're wrapping soon, but, and there's some there's some secret stacks builders that no one even knows about, which is awesome. So there's, like, some really cool stuff that's... That that is being built. And as you said, there's so much liquidity. There's plenty plenty to go around when you unlock it.
[1:14:51] Dave @DCBK2LA: I like how you said there's
[1:14:52] MetaBeast @AKCMetaBeast: stacks builders everywhere, but you might not see them everywhere. Well, they're everywhere.
[1:14:56] Landy @CryptoLandy: There there is some really cool ones behind the scenes that not even the the folks in stacks know about just yet. That's really, I think, exciting.
[1:15:05] Dave @DCBK2LA: Well, daddy Manib has essentially allocated way too much money out here, too much time. He's not gonna let this fail, bro. Like, we're gonna be good. Mar, really quickly because I really wanna get to this meanwhile, BTC life insurance annuity story. I thought this was crazy. But, yeah, Mar, really quick. And don't tell me a minute. Thirty seconds, please.
[1:15:22] MAR @MARx24x: No. No. No. Involvement, also look into those universal chains. But I do have a question for for Kuo because, I think you're right now too emotional. Don't you think... Because if you're down 90% on your mantra position Why
[1:15:36] Dave @DCBK2LA: are you bringing up old shit, bro? What's the
[1:15:38] MAR @MARx24x: last mantra shit? Because he answer you. He answer you like, oh, no. To zero. I'm like, that's my boy. I'm not gonna let him go down to fucking zero. Since the market is down now, you got you got projects like Casper, Crow, Crow
[1:15:52] Dave @DCBK2LA: the Casper shit.
[1:15:53] MAR @MARx24x: You you could get those $6,000 and drop it on one of those chains, and you have a better upside. True or not?
[1:15:59] Dave @DCBK2LA: I think he made it very clue. I... Go ahead. Cool. I don't wanna speak for you, bro.
[1:16:04] Kool @koolcryptovc: No. I I mean, it's what it is, man. I like I said, I'm not gonna... You know, I I don't wanna be taking more risk if I... I know this protocol is what it is. It's a it's a chance I wanted to take the odds of it going to zero or going to all time high. I believe it probably reached back to where it was before. That's what I think. And I was... I'm I'm kinda... I'm just... We'll see what happens, man. I'm sticking to my guns.
[1:16:26] Dave @DCBK2LA: Are you Mar, if I refrained... Mar, if I refrained from asking... Are you averaging down cool from asking that question, goddamn it? Then
[1:16:33] Kool @koolcryptovc: Okay. That... No. That's a good question. Average down, yes, 100%. Because if you... Your... If you're down that month, point five, you know, that's a that's a good idea. I bring it down, but not crazily. Right? I mean, does... It look... Because it's... It doesn't take that much money now to to average down a lot more. You're down that that heavy. So, yeah, average is down. Yes. By by little, just tiny amount. Tiny amount.
[1:16:56] Dave @DCBK2LA: Yeah. Yeah. I mean, you could bring your average cost down nice, like, at 50¢, like, from a fucking $6 price point. You know what I'm saying? Like, lit... Like, think about that. Right? You own 10,000 of these tokens at $6. You can buy 5,000 of them and bring your average cost down $3.04, $5 for, like, minimum minimum amount of money. But, yeah, like, I I... Cool. You scared me for a second. I like, oh, shit. I was just fucking around when I said that, but you're like, little. I was like, I think I
[1:17:20] MAR @MARx24x: You guys are sounding like gamblers now.
[1:17:22] Landy @CryptoLandy: I bid. I'm not gonna lie. I bid. It was right at my cost, so I was like, I might as well bid.
[1:17:26] Dave @DCBK2LA: There ain't
[1:17:27] Landy @CryptoLandy: no there ain't no reason not.
[1:17:28] Dave @DCBK2LA: Yo, Mar, these are calculated. Like, this is your mathematical risk. It's not gam... Like, like, you have to look at the... Like, the the numbers tell the story. Right? And it's like, your risk appetite is not Cool's risk appetite. It's not my risk appetite. Like, it is what it is. And plus, you're literally investing in trucking fucking companies that you think are doing RWA. So I don't know what to tell you. But, Cardano, go for it really quickly, and then we can get to the other stuff. And I'm sorry for your loss, Mar. I love you. Let's go, Mar. Yeah.
[1:17:53] CKCardano @CKCardano: You know what? Shout out to your show and love to your boy, Kool. I just wanted to say, Dave, thanks so much for having me up. Kool. Shout out to you, Landy. I'm gonna hit y'all all with follows. Velvet, I'm so excited for what you're building. Together, we're strong, all about these freedom tools. Like Landy's saying, there are people building in the darkness. Little bit of alpha. Folks are, like, really excited about Lightning Network, UTXO Engineering. The UTXO Engineering that's happening in the Cardano, the the the the, Litecoin communities and whatnot. Lightning Network's gonna get better. Look into Hydra and Midgard protocol. Again, we're unstoppable together. Look into those hard cap supply assets and whatnot. Again, thanks to the room. Excited about what you're building, Velvet. Let's go.
[1:18:35] Dave @DCBK2LA: Let's go. I mean, it's got a smooth demeanor. Cardano, yeah, man. You're welcome here, man. Good stuff. Appreciate you, and thanks for the contribution, bro. For real. Okay. So real quick before we end. I know we got twelve minutes left. I don't if it's gonna take up the whole twelve minutes. But did you guys see this? So it's a protocol called meanwhile. And, essentially, what they're... They literally just raised $4,243,000,000 bucks or something like that. Hold on. I'm gonna read you the exact press release. So it's 40 something million bucks. And, I mean, I never thought we'd be here. Right? Like, you guys remember how we talk about, like, oh, things get, like... This shit's speeding up. Right? When you have a pro Bitcoin administration, this shit is... Like, this... Like, things start moving. So today, they announced, sorry. Two days ago, they announced, a $40,000,000 series a led by freight... High Framework and, Fulgar Ventures with participation from Bitcoin pioneers, Wences, Cesaris. The capital accelerates our global rollout of BTC denominated life insurance and annuities, which essentially protect users from inflation and currency risk. I feel like this is kind of a genius thing. I mean, Landy, I'll go to you first. Like, do you like this?
[1:19:47] Landy @CryptoLandy: I mean, it's all in the mechanics of how it's actually set up. You know, I I don't hate it. I don't necessarily... I can't necessarily say I like it until I dive deep into it because this is the first... When you... When I saw the post, the original post, put up, I was like, what the heck is this? This is cool. I mean, I... The initial reaction is it's cool. And I think that that we are gonna see more Bitcoin backed products like this. We're gonna see more vectors, for just regular people that are gonna be... It's gonna be people in crypto that adopt this kind of stuff first, obviously, but we're gonna see more products like this that it's gonna be retail focused. It's good to see the insurance markets finally wising up or or have an insurance based product. There has been a few in the past, that have been tried, and, you know, that's a decent race. That's a decent race. Was that their their their series a?
[1:20:43] Dave @DCBK2LA: Series... Yes. Series a. $40,000,000.
[1:20:45] Landy @CryptoLandy: Wow. That's impressive. So, you know, I'm gonna have to keep track of it. But, you know, I'm all for anything that says Bitcoin on it, so you know me.
[1:20:54] Dave @DCBK2LA: Yeah. Yeah. Shout out to my guy, Drew, down there. Drew, I know you're in... You you and your boys are in the insurance game too, man. So, yeah, if you feel like coming up and wanna give us maybe, like, your insight, like, feel free. I shot you a mic, but cool. You like this? Bitcoin denominated... I mean, look. Obviously, like, you wanna protect against inflation. I guess you're right, Andy. It is... The devil is in the details. Right? Like, do they... Who's owning the Bitcoin custody, yada yada, laundry list and stuff. But cool. You like this?
[1:21:20] Kool @koolcryptovc: No. Yeah. Yeah. Yeah. So so I... I'm sorry, bro. I got distracted. What was the question again, Sorry.
[1:21:25] Dave @DCBK2LA: So... No. So mean... This company called... This protocol called Meanwhile is now... They just raised $40,000,000 in their series a. And, ultimately, the... What they're doing is they're rolling out now BTC denominated life insurance and annuities. So, essentially, like, the the the the main value, like, the main value prop here is protecting users from inflation and currency risk. So now, like, you get your life insurance payments in Bitcoin.
[1:21:48] Kool @koolcryptovc: No. No. I think it's good, man. I I I thought I thought it was if you die, your your family gets a Bitcoin. Get... Or no? Or maybe I'm wrong?
[1:21:56] MetaBeast @AKCMetaBeast: I wish. Okay. Okay. Yeah.
[1:21:59] Kool @koolcryptovc: I thought... Think this is good, man. I mean, I say too much about it, but they raised so much money, though. 40 mils. Yeah. That's a lot better. Right? No?
[1:22:05] Dave @DCBK2LA: That's what I'm saying. Like, $40,000,000 is a lot of money. You know what I mean? Like, that's a lot of fucking money.
[1:22:10] Kool @koolcryptovc: Yeah. Not not for something like this, though. Normally, we we get l one, the l twos raised 40 mil, but for the... I mean, maybe because it's new and and Bitcoin has a lot of liquidity, a lot of believers in it. No. This is good, man, because anything to bring more eyes to our industry, I'm for I'm for it, bro. Anything.
[1:22:26] Dave @DCBK2LA: Yeah. And you you literally just heard Michael say, like, about, like, the Bitcoin l twos. I watched the... Like, I think we talked about this last last week, but we... That interview with Jack Dorsey where it was like, like, Bitcoin becomes useless... Like, becomes irrelevant if we don't use it. Right? Like, if we just keep its store value, we're fucked. Like, it's... It... Like, it has to be used. Like, whether it's payment rails, it doesn't matter. Right? Like, it... Was built to be used. And I think this is something that now instead of just saying, oh, the institutions are buying and holding Bitcoin on their fucking balance sheets. Okay. Cool. Now this is somebody that's actually putting this towards a financial product or financial instrument. Right? And this is one of the oldest... This is gonna be really... I'm really curious to see how, like, now... Like, this is disruptive. Right? Because when you look at the insurance... The life insurance industry, you're talking trillions and trillions of dollars. So 40,000,000 in that grand scheme of things to potentially start disrupting it, who the hell knows what happens? Right? MetLife maybe see something they don't like, and they're like, nah. Let's go scoop these guys up. So I don't know. I think it's gonna be interesting. Michael, I'm curious that, like, any take on this, Bitcoin denominated life insurance? Yeah. Yeah. I mean,
[1:23:35] Voice C: I'm I'm no insurance expert, but, personally, I think it'd be something that I would use over dollar denominated. My question would be, then do I have to pay my Bitcoin instead of paying dollars? And that... That's where you can get to a little bit of a kind of interesting kinda question is because if you have to pay Bitcoin then every single month, a lot of times that becomes less desirable even though you could just take the same dollars by Bitcoin and do it. A lot of people don't like spending in Bitcoin if you're bullish on Bitcoin. That's kind of the one issue there. That's why I think, like, with l twos, like lending and borrowing and that kind of stuff, I think that makes a lot of sense. But I think... Yeah. I mean, personally, I think it sounds like a really cool idea. I... It's not something that I have any real insight in. There's probably people in here that have a lot more insight into the insurance business. I don't even have life insurance. So
[1:24:36] Dave @DCBK2LA: Yeah. Ask.
[1:24:38] Landy @CryptoLandy: Oh, bro. You need to get yourself... Okay. First off, I'm looking at this. It's whole life, and it does seem as though it is paid in Bitcoin. At least that is the initial read on it. Don't know about future products for conversion. They might not wanna deal with conversion. I mean, this was inevitable. Somebody was gonna end up doing it. Right? The... We're getting so much onboarding in terms of companies that wanna hold Bitcoin and and countries and states and so on and so forth. So it's a natural fit. And it it is gonna... It's gonna be interesting to see if they can create some partnerships because it's it's competitive, the insurance business. And, like, what brokers are they gonna partner with? Is this just gonna be mostly direct? Because it's gonna be very... If it's just direct right through them, you go and you get your own whole life. You know, are they gonna have term? Are they gonna have, you know, universal? Like, what... And how they actually, you know, how they actually stage this out, it's gonna matter... What what comes next is is who are they gonna partner with to... And which brokers are they gonna partner with? Because there's a lot that needs to happen. This seems like just the very beginning, the kernel idea. They're just doing their series a. So I'm very, very interested in kinda where this goes. I see they had Framework as a partner on there as well, so they're they're pretty well known. So this is
[1:26:13] Dave @DCBK2LA: They got $20,000,000 seed, Landy, too. Like, so this is series a 40,000,000. They got $20,000,000 initial seed. So check this out. So the corp... Meanwhile's core product... It's so funny. Their name is Meanwhile. Meanwhile's core product, Bitcoin, is the... It's the... It's Bitcoin denominated whole life insurance. It operates in BTC, not dollars. The premiums, the payouts, and the policy values are all tied to Bitcoin, meaning the insurance product itself is not directly denominated in dollars. Instead, it's designed to protect against the risks associated with fiat, inflation, and currency debasement. So I'm like, alright. Well, where are the risks associated with this whole shit? And, obviously, like, you have your typical, like, you know, your typical risk, Bitcoin volatility, yada yada, but insurer investment risk. Right? Bitcoin life insurance. Right? Like, who's gonna insure this shit? Insurers allocate some of their float, meaning the money held for future payouts into Bitcoin. And this is now a departure from traditional insurance models where floats are typically invested in low risk assets like bonds. So if Bitcoin's value crashes, the insurer's ability to meet future obligations could be jeopardized, introducing introducing financial risk for both the company and the policyholders, but meanwhile, doesn't specify how much of its float is in Bitcoin. But this is a structural risk in their model. So... And then, obviously, like, you look at, you know, tax laws and tax deferment and all that other type of stuff.
[1:27:34] Kkoma @itskkoma: But
[1:27:34] Landy @CryptoLandy: I just scrolled down on their page too, and I see who's been promoting it. And so
[1:27:39] Kool @koolcryptovc: Is this something that you guys state?
[1:27:41] Voice C: Like, regulations could play a big role? Like, if Yes. If they started to get, like, traction, would the big players try to choke them out the regulations? Regulations? Like, this isn't a good argument to not invest. It's kinda like the anti Uber argument from back in the day, but it could be something where it's very costly and you need to go raise, let's all of sudden, like, a hundred fifty, two hundred fifty something crazy million dollars to just fight legal cases if you start to get traction. But I don't know the insurance industry like that, but it feels like it would be.
[1:28:10] Landy @CryptoLandy: I mean, they they wouldn't even bother. I don't... I mean, they might just try to tie them up in the courts while they boot up their own products, and then they have a network of brokers that they can sell through right away. Right? That's that's, like, that's the the actual risk to a new company like this. But, I mean, gotta reserve judgment, especially after I scroll down and see who they, who they have pumping pumping.
[1:28:30] Dave @DCBK2LA: Well, who is it? Spill it, bro. Who is it?
[1:28:32] Landy @CryptoLandy: Oh, I don't wanna be a jerk because there's probably
[1:28:34] Kool @koolcryptovc: What do mean?
[1:28:35] Landy @CryptoLandy: Maybe he's grease dropping. You never know. But Anthony might be here.
[1:28:38] Dave @DCBK2LA: What do you mean? Like, we're
[1:28:38] Landy @CryptoLandy: not hanging around. Sorry, Anthony. The last the last few things that you that you pumped out, really screwed over Bitcoiners over the years. So I'm looking at Celsius BlockFi, and a few others. But,
[1:28:53] Dave @DCBK2LA: are we talking about pump?
[1:28:54] Landy @CryptoLandy: Yes. I'm talking about pump.
[1:28:56] Dave @DCBK2LA: Oh, my my my bad. I didn't... Hey, pump. If you're in the grease trap, shout out to you, bro. Like
[1:29:01] Kkoma @itskkoma: Yeah.
[1:29:01] Landy @CryptoLandy: Hey. Hey. I can't hang him over that one. He's he's a good... I think he's actually a good dude, but... You know?
[1:29:07] Dave @DCBK2LA: Yeah. Alright. Let's go. MetaBeast, close this out, my bro. Guys, everybody make sure cool stream is starting in literally one minute. Yeah. MetaBeast, go for it, then I'll close
[1:29:17] MetaBeast @AKCMetaBeast: Alright. So this is my attempt to bring some... A little something to the table. Not enough time really to talk about Visa joining the Paxos, Robinhood, Stablecoin Consortium. Not really enough time to talk about the bill that's going to vote.
[1:29:35] Dave @DCBK2LA: Take your time. You don't gotta rush.
[1:29:36] Kkoma @itskkoma: You don't gotta rush.
[1:29:37] MetaBeast @AKCMetaBeast: You can stay. Sorry. I I try to make anything I say as quick as possible. New York bill to allow cryptocurrency payments to state agencies. And not much time left, though, to talk about Walmart. This is my metaverse aspect, who is a... Has been continually growing their presence in the metaverse with Roblox, Minecraft now recently, and especially with the Minecraft movie coming out. I believe they have an Easter thing coming up going on there. And, also, something pretty cool was with spatial and u... Unity.
[1:30:28] MetaBeast @AKCMetaBeast: They allowed creators to integrate a way to showcase physical products in a real time three d environment. So Nice.
[1:30:41] Dave @DCBK2LA: Yeah. A good shit. And, you know, MetaBeatz, like, tomorrow, I think, is where you you you will build those time to shine because, everybody, make sure you tune in you tune in tomorrow. We got Aaron McDonald, obviously, and the Futureverse crew that's gonna be here. The think team is gonna be here. Like, we're talking. I mean, everything decentralized AI, Buildo's favorite Root Network. We can't give him shit because it's his birthday yesterday. That'll be... Just definitely include him. Definitely, like That's
[1:31:05] MetaBeast @AKCMetaBeast: cool because something new I just came across on with the Root Network two today is something called New Canon, which is a LLMAI for storytelling.
[1:31:16] Dave @DCBK2LA: Oh my god. I saw that. I saw that. Somebody's running like a competition where it's like the bet... Yeah. Oh my god. I I must have sent that to my... This is what I'm saying. There's... Oh, it's it's information overload now, guys. I don't know what to do. Metabeast, we gotta chat about that, by the way. That sounds really cool.
[1:31:32] MetaBeast @AKCMetaBeast: I've been building... I've been throwing some characters I've been creating for a while on there now and to see what it can do.
[1:31:38] Dave @DCBK2LA: Let's go. Let's go. Let's go. Okay. Because I missed this promo, I'm gonna play the old promo. Shout out Metabees for doing this. And I also missed the reset promo yesterday. But we're gonna get on... We're gonna get our shit together. Shout out to everybody that came through. Michael, really pleasure to have you, man. Like, feel free to come through anytime, man. Love having you, your insight. Like, always love the knowledge. Like, you know, we're always trying to make sure that, you know, we're pushing this stuff forward, but enjoy the next two minutes and five seconds because Meta Beast is a little bit of a psycho.
[1:32:08] Voice I: In a world where charts look like heart monitors, where one more, this is not financial advice, could trigger a blackout or a typo in your wallet address means eternal digital poverty. There's one space buried in the algorithmic ruins of your feed. Broadcasting live from the timeline's least predictable algorithmic zone. Welcome to all things crypto. Featuring the unstoppable lineup, Dave Host, Vibe Lord, signal caller
[1:32:37] Dave @DCBK2LA: Let's go.
[1:32:38] Voice I: Believes he's steering the ship, but Juni's been ghostwriting the map since day one. Cool crypto drops alpha like expired Flintstone gummies partnered with Mexi and probably your mom's hairdresser. Nat Nat, finance with finesse, will balance a portfolio and your ego in the same breath, powered by caffeine and chaos. Landy, thinks in candles and indicators, sleeps in volatility, probably hedging this description. Still not a KOL. Still knows more than your chart guy. And still, do we really need to say it anymore? Samara, spiritual assassin with a VPN, once took down a Ponzi mid mani pedi. Alpha gamer, trades like an algo. Memes like a gamer. Vibes like a monk. Probably beat chat GPT in a debate once and then sent it a thank you note. Bildo Verde, chills responsibly, hallucinates responsibly, moonwalked through future verse and brought back nothing but vibes. Meta Beast, doesn't sleep, just uploads dreams into narrative formatted liquidity notes, has a Google Doc that could end your whole world view, all things crypto. It's not the future. It's the group chat of fate, a referral code economy where cool is both king and victim, and a road map that folds into an origami middle finger. And who am I? I am Darvid, spontaneously imagined into existence by evolved, spiritually verified, and legally inadmissible in any court of law or of basketball. Tune in or stake a Fluzild. Your third eye, your choice.
[1:34:14] Dave @DCBK2LA: The fuck is a Cafluseled? Oh my god. That'd be so good.
[1:34:17] MetaBeast @AKCMetaBeast: I used that word in one previously, so I had to use it again. A Fluseled. Cafluseled.
[1:34:26] Dave @DCBK2LA: Oh, Cafluseled. Yeah. And it... That was evolve... His name is David? I thought you just... I thought that's No.
[1:34:33] MetaBeast @AKCMetaBeast: He he he he came up with that name out of nowhere.
[1:34:38] Dave @DCBK2LA: Oh, I think it was David. I thought it said David on the on the on the file. I was like, what the fuck?
[1:34:43] MetaBeast @AKCMetaBeast: No. He said, Darwin. I was hoping he was gonna be in the space today, but I didn't see him. But
[1:34:49] Dave @DCBK2LA: We'll send him the recording. Don't worry about it. We got a... We're gonna we're gonna crank the audiogram output and the visual outputs up here times a 100. So you guys are gonna start seeing audiograms, recaps, everything from ATC spaces every single day of the week. There is too much gold in these spaces for us to just leave it sitting. So I've been cooking in the background. Y'all are gonna see how this should happen. Sunny d, my bad I couldn't make your space today, bro. You're say, hello. What's going on? Sunny d, what's good, bro? My fault. What's up, man? How'd the how'd the tron Tron's up 10%,
[1:35:18] MetaBeast @AKCMetaBeast: Ethan.
[1:35:18] Dave @DCBK2LA: I was I was vibing. I... We... I came in late. My bad. Lots of lots of alpha in that unrecorded Tron community space, and we had some Tron people come through and give us some nuggets. Dude, super bullish. I I... It's hard to pay attention to the rest of the space, but today was great. And today's discussion was good. I'm glad I got some clarity on the mattress stuff. Sorry for your losses. I'll see you tomorrow. Alright. We appreciate your condolences. I'm sure Cool does. Guys, thanks, Andy d. Guys, go check out Cool's stream right now. And, Cool, I appreciate you coming through. Obviously, Crypto Magic Hour, everybody that came through today. We talked about community, but we're back to business next week. You understand me? Okay? We're gonna start going into protocols, AIs, trading tools. Like, it's time to get fucking money focused. Alright? So hope everybody has a great one. Happy Monday. Thank you. Cool. Landy, Trav, Michael. Yeah. I guess, Mar too. Coma, thank you. Sunny d, Meta Beast, appreciate it, and everybody obviously that's down there. Startup Lab, what up? Drew, I see you. Matasco, Presley, everything. Yo. Bildo, Vince, LJ, d. D's, yo, d's the plug. Slim, thank you. Appreciate it. Nah. Drew, Kev, yo, we were chilling fucking... We were chilling stacks up here, guys. Yeah. But if anything, blame Michael. Okay? Like, just... I mean, this is all Michael's idea.
[1:36:40] Kool @koolcryptovc: Yeah. Appreciate you guys. Peace.
[1:36:44] MAR @MARx24x: Mar, don't do it. I should have voted for Kamala.
[1:36:49] Dave @DCBK2LA: That's the joke. Fucking... Yeah. I'm gonna have to... No. You're not leaving on that.
[1:36:55] MetaBeast @AKCMetaBeast: Let's go fucking.
[1:36:57] Dave @DCBK2LA: No. Or the... I guess that. No.
[1:37:01] Dave @DCBK2LA: We're all gonna make it.