Safe Haven as the crypto Market reels from yet another Scandal BTC is chilling in the ’90s as big entities continue buying altcoin ETFs regime change at the SEC begins to be felt and more spot crypto ETFs are looking likely could this be the Catalyst to reinjected season the president of Argentina is in hot water for promoting a mem coin while the crypto Community fumes at the Insiders who made Millions from it why this is a new low and a look at last week’s top performers tweets of the week dates for your diary and much more besides this is the coin Bureau News live welcome everyone a very happy Monday to one and all of you Nick good to see you again good to be back how you back guy yeah I’m good back yep yep enjoying being back here in uh at the coin Bureau HQ after after a weekend away um I will share some details about that later on if we have the you chose an amazing time to come back into the crypto space I really did I really did I was surprised you actually came back yeah part of me thought maybe after after the stuff that’s been going down in the last few days part of me thought maybe I should just maybe I should just walk away from this whole industry because it has been yeah it has been truly I mean we’ve been in this game for a while yeah yeah this weekend the sentiment on CT was uh you really really low yeah yeah I mean it is just it is disgraceful really some of the stuff that we’ve been seeing um so obviously we’re going to talk about that today thank you everyone for joining us um we’ve got a lot to discuss of course but we will start off as we always do by talking about the uh well we’re going to talk about the good news which is the price of Bitcoin um the good news being it hasn’t done an awful lot chopping sideways consider chopping sideways as good news yeah many people would consider that arguably worse but at least it’s not falling um so obviously let’s start what happened last week just a bit of a rundown of the news um first of all um I will note that sailor did not post the Sailor tracker yesterday which is interesting so so potentially means that we did he didn’t buy any coins last week okay he did announce during our live live stream last week that he did that he bought the week prior so you see there he bought 7,633 BTC so still accumulating according to the 2121 plan so you guys let us know in the comments if he does drop the announcement during the live um here’s hoping though here’s hoping um let’s just hope that he forgot to try to post the Sailor tracker um oh of course on Wednesday there was the news as we alluded to in the news last week um the CPI print came out now it was way hotter than expected right so yeah you can take a look at the the CPI charts here it was up the headline was up quite a lot although core was relatively flat slightly up it was both below both above expectations which is obviously not good because it means the FED is less likely to cut we saw BTC fall immediately on the news so that’s the CPI print that’s the 1 hour candle um interestingly as well the 10year ready which is a of the market so this is the 10year yield on us treasuries it red a lot look at that Spike that’s the sort that’s the sort of Spike we would kill for in CTO right kill for although that is the cost of debt going up substantially in the world economy because of inflation potentially but yeah that’s what we saw although on some positive news the Bitcoin did recover because the US dollar was still falling you know weakening so this is the Dixie index you can still see it in that descending um wedge pattern over there so generally you know dollar week is good for risk assets okay so um looking at a few things as well some bad news and then I’ll give some good news we got to balance got to give some good news please give some good news on the bad news front unfortunately last week had some pretty big outflows in the ETF side um now these outflows could potentially be blamed on um people slowing down on the carry trade that they that hitch funds use and run basically it’s going long Futures earning the carry and then buying the spot or short Futures earning the carryer and then buying the spot but as you can see the basis here which is the difference between Futures in spot has been decreasing so many people have attributed the um reduction and ETF flows to the this carry trade that has been Unwound um network activity on bitcoin has also was Al a 12-month low right now it’s good or bad depending on which way you look at it right yeah I mean I mean on the one hand it suggests people are people are just buying and buying and hodling yeah exactly which which is good which seems to be the case right now with ETFs and everything essentially like they’ll just go and store it with a custodian and more people less people are using Bitcoin to transact right as a medium of exchange um obviously it’s not good for the miners but you know uh that’s be that as it may on the good news side um last week there were some disclosures um from the holders of uh the IET shares which are the Black Rock ibet ETF and take a look at some of these names here and the allocations Goldman holds 1.2 billion Millennium which is a massive hedge fund holds 2.6 Abu dhabi’s Sovereign wealth fund yes yes this was something that came out last week Abu Dhabi is Abu Dhabi is buying exactly yeah state of Wisconsin twoo Investments and then also at the same time we got news that State Street and city will be offering crypto custody Services okay so so we’re basically seeing this this is a direct Downstream result of of Sab 121 being finally repealed exactly and this is very bullish because it means institutions can now hold Bitcoin through these regulated custodians which is something that they their mandates require as an investment manager manager um and then a few other some other news here we’ve also got a supply shock potentially this is basically the Bitcoin sell side liquidity so that’s Bitcoin on us exchanges minor Holdings and OTC desks and you can see that’s slowly trending lower the supply side that’s looking good also on the demand side we could potentially have about $23 billion of buy pressure coming from ex um States US states and vanic pulled together this list of potential States they could either accumulate Bitcoin spot or through the ETFs 23 billion is a lot of buying pressure especially if you are having reductions in Supply yeah then one more thing on the macro front we have a bull flattening on the yield curve so basically what that is means is that the tenure which is the long end rates are falling faster than the short end two-year rates and this is generally a sign that is generally quite bullish for risk assets it means that inflation expectations on the long end are falling faster potentially as a result of Trump’s Target of Bringing Down the 10-year yield so that’s generally considered bullish for um for risk assets like Bitcoin so that’s a bull flattening of the term structure okay so I mean there were yeah there there’s plenty of positives to look there um and that’s before you even touch on things like the regulatory front obviously we s we you know starting to see progress on that um as we mentioned with sb21 um it’s also worth mentioning coinbase’s earnings oh yeah came out last week um and and they were pretty good they were very good massively over expectations as well on top of Robin hoods remember Robin hoods was a week before that yeah and their crypto earnings were up 200% the cryp coinbase’s revenue was up 200% um and it smashed through expectations so you know they printing which is which is good um so quickly just looking at some charts I think that also right now okay last week it was a lot of chop but I think it’s also important when what’s the famous saying when in doubt zoom out zoom out so let’s take a look at some really long-term charts here so this is uh basically the weekly chart of Bitcoin and the 200 period or the 200 week moving average now what’s interesting is that one of the indicators of where we could potentially be with a top in a cycle is when the 200 we moving average passes through the previous all-time high okay and this marked the top nearly exactly for the 2017 cycle and the 2021 cycle right and if you take a look now we are still quite the 200 we moving average is still quite some way away from the 61 th000 which we were at the previous cycle top so that’s good news and then potentially also looking at the weekly Zo in a little bit more on this chart you can take a look that that does not look like a bearish pattern right although it is bit of sideways chop it’s still you know in an uptrend it’s still a bullish structure with higher highs and higher lows so it’s still looking bullish on the long-term charts yeah but you know it has to be said like obviously you know we we’ve we’ve had some we’ve had some really good price action recently yeah but a chart like that I think kind of sums up the position that crypto is in at the moment because you know this is this is a market that kind of thrives on attention and when prices are going up obviously everyone’s happy everyone’s engaged but even when prices are sort of going down you also see a lot more engagement you know people are a lot of people are looking to buy the dip a lot of people are just trying to find out you know why why their portfolios are going down so badly or whatever it is um but when it’s when it’s choppy like this I mean it’s harder for Traders to trade there’s no amum exactly yeah there’s no narrative so now it’s basically like waiting for the potentially the next narrative who knows what that’s potentially people are looking at the Bitcoin strategic Reserve I mean I don’t know how likely that is now um and then there’s what else potentially regulations you know so there’s no massive Catalyst yet um there’s also questions around liquidity with the FED coming down ending QT and all this but still that’s still quite some way away um before moving on guys one thing to note if you are obviously looking for day-to-day trading analysis then I will of course refer you to the one and only coin buau trading with our three trading Pros over there Dan IO and Aaron uh they’ve got some videos out now already and you can of course subscribe using that QR code right there in the top right so go and do that right now check those guys out and also um Dan was on uh last week’s episode of NFA live jumped into the breach to full full in for you exactly exactly I was traveling uh I I was um returning that that day and um yeah he was very well received did an excellent job um so I think that might be it for me on NFA I I might lost my lost my birth on there uh which is a shame um but uh yeah it’s um so it’s it’s It’s Tricky out there at the moment even even in Bitcoin Land There is there’s lots to be bullish about but also some head what’s the sentiment looking like what’s the comments like the sentiment in the chat I’ve seen it a lot worse um Galaxy Nick says uh we’re all going to make it which is good um Gan Frances apparently uh Swindon still sucks but mle president Malay sucks more um yeah people are he’s really fallen off when he’s [ __ ] more than Swindon exactly sorry for anyone from swind exactly um and uh yeah when when will people leave the casino only when they leave the space for good I think there’s I think there’s a lot of that sort of sentiment around people are and don’t worry we are going to talk about the casino and the cabal and everything else around that’s been happening it um yeah but before we before we get on to that we need to talk about some more positive stuff before we do though guys you got to hit the like of course And subscribe course like and if we get what are we going to do if we get to 1,500 likes in this stream oh you remember guy I told you he’s got an interesting story about his his crypto trip oh yeah a trip where you were trying to get away from crypto and you basically fell into crypto in some way yeah so I basically left the country for a few days to try and get away from crypto you can’t get away from crypto um and I will tell you I will tell you why and what happened but hit that like button if we get to 1500 likes I will let you know all about it um and how M guils how Mrs guy was not happy um okay okay but first let’s talk about some more good news now obviously everything that’s happening on the regulatory front in the US opens up the Intriguing possibility uh that we could at some point probably this year uh end up with some more spot altcoin ETFs indeed yeah so take a look at this this great Christmas tree of gifts here I like to call it it’s the total list of all of these pending spot altcoin ETFs over from Bloomberg terminal um and we’ve got stuff in there we’ve got Trump actually so lot Bonk obviously a lot of salana you know um hbar quite a few others there so that’s a list of all of the ETFs that op pinion so what I think we’ll do is we’ll we’ll go through some of the biggest cryptocurrencies the most likely of approvals um and we’ll obviously start with salana um which are multiple firms have thrown their hat into the ring on the salana ETF uh for example last week the grayscale acknowledge SEC acknowledged grayscales conversion um so basically the SEC is now acknowledging it which is great so it’s the first time a spot Soul ETF bid has actually Advanced to the formal review stage um and then soon after that the SEC also acknowledged Canary capitals salana ETF application so on the February 11th and as pointed out in that previous tweet the the SEC under under Gary gendler wouldn’t even wouldn’t even acknowledge that these applications have been filed exactly um which gives you a sense of how of how the regime change there is is proceeding exactly the credit to U and H Piers yeah p there is also panta Capital obviously a large hedge fund saying that the Solana ETFs um could be a massive Boon for soul and Soul’s ecosystem so um that’s their view on it okay it’s true next up the xrp Army Ripple um yeah several asset managers are pursuing a spot xop ETF despite the complex legal status yeah I mean I think it’s it’s probably likely that the case against Ripple you know that the that is still ongoing as far as I understand it that will probably be dropped but kind of until it is there’s there’s going to be that uncertainty around xrp status 100% it is um but NE nevertheless they asked a lot a lot of applications out there um Arcus filed for their 19B forms to list 19 B4 forms to list grayscales xrp trust as an ETF okay and then there’s Le there’s at least five other ETFs um xrp ETFs that have been moved forward by I believe um the be yeah another exchange and this this is also interesting this was from JP Morgan two weeks ago this is basically they ran an analysis on the um on the potential inflows we could see to S an xrp ETFs based on comparables of Bitcoin and ethereum etps so potential penetration of the total um uh ether um ETF AUM versus market cap and on the xrp side they estimate anything from 4.3 to 8.4 billion in inflows and on the salana side anything from 2.7 to 5.2 billion so okay that’s quite cons substantial for an asset of the size of xrp or not to be sniffed at not to be sniffed at yeah that would definitely help okay another crypto um that is now being discussed as a possible uh spot ETF Contender is none other than cardano’s Ada damn right yeah so um uh ARA has uh has proposed well there’s been a rule change proposed um for cardano ETF um so uh which allows the listing of commodity based trust shares yeah yeah um so and this was because the SEC well adaah was one of the one one of the cryptos labeled as a security by the SEC uh in 2023 yeah and some lawsuits there although to be honest those are also likely to be dropped it’s also potentially bullish for cardano in the sense that ADA could be staked a stake in crypto okay and there’s lots of talk about potentially launching staked ET etps and ETFs specifically on the ethereum side so if there’s other cryptocurrencies currencies that can be Stak that’s good for them as well okay and this is something this is something that been talked about a bit as well this idea of launching staking ETFs because obviously institutions they want to yield um they want to be able to get you know the benefits of staking rewards via VIA ETFs um if that happens I mean do you think that’s something that would make a difference if you know if we did get the if we did get uh altcoin ETFs that allowed for staking I think the most important thing for for institutional investors is the actual asset itself underlying it right so whether it’s whether there is a stake in yield it’s not as important as what’s the capital potential capital appreciation this is why some people are very bullish on the the potential of ethereum ETFs that can be staked right with stake and yield I I don’t think that’s necessarily going to do much because there are other other ETFs in other countries that have stake stake in pass through and they haven’t seen that much update yeah so it’s more around why would I hold this as an asset as opposed to oh it’s giving me a 3% yield because 3% yield I mean what do you earn on treasuries right what do you earn on a money market fund so if you don’t if you think eth is going down it doesn’t matter what state going to get right very true very true um okay well another crypto that is uh been talked about and could be one of the closest to uh to getting approve approval for a spot ETF of its own is granddaddy Litecoin none other than Litecoin crazy yeah and this is because it’s um its regulatory status is clear it’s been labeled a commodity by the SEC and cftc um and it was the first to get acknowledged um that than most the others the Bloomberg ETF analysts say that it’s at third base baseball term I think um and uh yeah Litecoin has really been a strong performer over the past month compared to many of the other altcoins out there and that I mean that is that is mostly around ETF speculation so it looks like uh it looks like that could be could be next yep one more thing to look at the chances of approvals there’s the first one is the Bloomberg ETF analysts themselves um so you can see they the most likely they think is the Litecoin one um 90% chance of approval in 2025 all right then interestingly Doge comes before salana and xrp yeah so that’s interesting uh so that’s their likelihood and then of course we can also Source the wisdom of the crowd that is poly market and uh here they’ve got U interesting they’ve got Ripple ETF approved in 2025 so whoever created that market whoever bet 47 $40 $50,000 on a ripple ETF out nameing its xrp you know not very the crowd isn’t doesn’t have that much wisdom but um yeah yeah those the likelihoods on poly Market yeah it’s it’s I mean it’s a thing isn’t it that of of all those cryptos of all the cryptos currently being considered for for for spot ETFs salana is the kind of is the newest of the lot and I mean salana in in in the grand scheme of things isn’t that new you know it’s been around for a few years now um so it seems to be a case of mostly these older cryptos and of course it would from that from that point of view it would make sense because uh Litecoin is is pretty much the oldest of the lot after Bitcoin yeah that’s still that’s still around the original OG silver to bitcoin’s gold yeah yeah okay so I mean this again this is something this is something to be positive about I think that at some point this year because we really need going back to going back to what we were talking about with Bitcoin you know at the moment there is no there is no Catalyst there’s no what some I’ve seen some people refer to as a kind of North Star like you know um the the Bitcoin strategic Reserve that that has not been talked about much recently that seems to be well it’s devolved into considering a potential digital asset stockpile considering doing research into a bu yeah so I think kind of the wind has gone out of the sales of that one yeah um and you know that the inauguration is passed us we know there are regulations coming but well I think we also uh realize that you know the the legislature works very slowly so we’re not necessarily going to get regulations overnight yeah so I think really what the whole Market needs and that goes for bit coin as well as as well as altcoins is just another is is another Catalyst or we’re going to get more chopped like this I think yeah which brings us on to ah yes Wall of Fame and shame [Music] yeah bro okay wow the walls uh the walls of oh my what is this who’s that g that that photo alone deserves a spot on the wall of your eye bro ai ai fail what the hell they do my face Jesus so bizarre um okay so Wall of Fame and shame um it’s just gonna be a Wall of Shame this week folks because it’s it’s just been one of those weeks and we’re just putting the entire crypto industry on it basically yeah I mean more specifically I would think we’d nail down on the meme coin you know the mem coin industrial complex that just basically churns it out the launch pads the influence the schillers the projects all of it I think because it is just really sucked a lot of the life and liquidity out of the crypto markets right now um and obviously this is all as it relates to the story we get into but obviously prior to that a lot of the discussion has just been you know there was a time at which people were discussing the benefits potentially of mem coins and you know oh this Community Driven kind of thing that gives this this culture and right now it’s just the most extractive thing I’ve ever seen in my life yeah yeah it is it has gone too far um so I guess the seeds of this were sewn just a few weeks ago when uh the Trump meme coin launched followed immediately by the Melania meme coin um and the Melania meme coin is going to have is going to have some reference in what we’re about to talk about like Central African Republic meme coin yep so and and as someone pointed someone pointed out on Twitter it went from you know random developers launching meme coins then it was celebrities launching Mee coins random Developers crypto influences celebrity influences presidents and now nation states yeah yeah so as again as someone pointed out I think the next thing is a planet launching its own mcoin Jupiter Jupiter dicks there we are so we got that to look forward to um but yeah obviously uh this is the absolute uh absolute [ __ ] show for want of a better term that is um Libra uh so this was the cryptocurrency that the mem coin um launched and promoted um by argentinan president Javier Malay um so he tweeted about it um and including uh the website address and the contract address cont y um and so he endorsed this um and then uh shortly afterwards deleted the post um which obviously did not kind of took uh kind of burst the bubble in a big way yeah um and as the price as the price crashed he started to to distance himself from it um now apparently this coin was aimed at this is according to the Associated Press aimed at encouraging economic growth by funding small businesses and startups yeah in Argentina Noble yeah kind of a noble aim I guess um they obviously hadn’t done their homework when it comes to mem coins because this is this is the kind of [ __ ] that gets trotted out with so many of these mem coin launches isn’t it oh there’s going to be a community around it oh it’s going to do this you know it’s not just mem coin it’s a thing no it’s a meme coin um it’s p as you said Nick it’s purely extractive and that’s what this turned out to be um but there were red flags early on yeah there were red flags so analysts Flags the projects flws for instance the website was only started um a few hours ago or launched a few hours ago if you wanted to apply to get funding for your your company in Argentina it was linked to a Google form so right very professional Google form see here um there were also onchain warnings I mean for example 50% of the supply was held in a single wallet um Bubble Maps warned that 82% of Libra’s Supply was also unlocked and available for immediate sale they also pointed out that people behind the Melania launch were also involved here so there were connections to the wallets um in it surged to a $4.5 billion market cap before crashing to 94% within hours inside some so literally I went to sleep I didn’t even see anything about this I went to sleep I woke up the next morning was already zero in the span of like less than six seven hours it was it was it all happened you were lucky you didn’t have you didn’t have to see all this happen I know I didn’t have to see this going on didn’t have to watch this nonsense unfold um yeah eight wallets linked the Libra team siphon off $17 million of course and there’s the list of it and some of those obviously are linked to Melania um and uh yeah I mean M was accused of fraud yeah yes so um I think there are lawyers in Argentina um this is obviously something that’s kind of developing all the time so as uh as it’s kind of as that part of the world is is sort of waking up I imagine there will be more developments on this story over the next well certainly over the next 24 hours over the next few days and weeks I’m sure so um this is by no means uh this is by no means over but yeah obviously OPP opposition politicians in Argentina are are jumping on this lawsuits are coming um and yeah I mean it’s fair to say mle is in quite a lot of trouble yeah yeah I mean and also impeachment potentially yeah yeah yeah um and if that happens of course now if if lawsuits are brought and the the lid is lifted on this you know on this dumpster fire so to speak then you know there there’s going to be a lot more details coming out regularly the news slow just going to continue throughout the week um and it’s interesting okay so this is only that’s just what the start of the story that’s just that was just two days ago okay you guys that’s already that’s what happened and then what’s happened subsequent to that this is actually just in the last 24 hours so a guy called Hayden Davis who’s from KLA kelia Adventures now he comes out and makes a statement first of all I will note that I don’t know why he’s wearing a Gryffindor like hoodie or like a Power Rangers he’s got a bodysuit underneath him like some of the comments were hilarious yeah it’s so bizarre what this is the most important statement of your life bro a life-changing statement and you come out and what he wore was not was the least of his worries because what he said there like for for example he said something like oh there was um farming taking place you know what’s your wording I mean I would advise to speak to Legal Prof professionals before making statements like this this is this is the SBF Playbook like have you guys learned nothing I mean like SBF came out you know after FTX collapse he just came out and started talking without speaking to his lawyers and this was you know this was proved in court to be a really bad idea here’s this Wally like I mean who is this guy no one knew who he was he was a market maker but he was on the market making side apparently he was tossed with the launch he’d been involved in a few other projects it’s quite deep he wasn’t connected to the Meteora team through they were referring him to particular projects he did have a solution he would inject quote inject the funds into the chart uh now I I don’t know what he thinks how he thinks it’s going to happen to make it right because there’s no other way to make this right unless you go through every single wallet that bought and sold and finding a way to get the profits from the people who sold and then like make a claims it’s the biggest disaster I do not I do not I mean I really I kind of feel sorry to a degree because it’s like you know what is he going to do now like his life is in the sense that you know obviously it’s it’s it’s it’s a um you know it’s his mistake and all this kind of stuff but I do not want to be in his position right no no I mean this yeah he’s got himself he’s got himself into a right pickle it’s fair to say I mean like I say I you know don’t know who this guy is I I don’t know how someone like this who no one’s ever heard of ends up you know mixed up with something like this I mean this is a country we’re talking about this isn’t like this isn’t some uh some you know airheaded celebrity who’s launching their own this isn’t some you know this isn’t some just [ __ ] this is like a country Yeah country launching its own meme Co it’s it’s not and it was it wasn’t also just try to clarify it also wasn’t just on Twitter he also shared it on Instagram so it was fully you know agreed upon I mean he is of course he’s the one of the main characters here he’s in the sense that he was the market maybe he was involved in the launch but there was other people there was Kip protocol was apparently tasked with Distributing the funds no one’s really heard of these guys and then there was also all the ks which we’ll get to well we’ll get on to right now but the point of the matter is his Solutions haven’t really W aren’t really going to work and I don’t know why he would have gone on um incriminated and stuff like that yeah yeah okay so obviously this being crypto the story is is kind of already pretty weird um and I like the fact that this guy turns up with you know basically in fancy dress to make this uh to make this uh statement um but of course this being crypto it only gets weirder it only gets more sural um and I think uh one particular moment is when we had an appearance from a man who is now crypto’s kind of new newest main character after after this this Hayden chap um and that’s none other than Dave pornoy yeah so uh Dave pory isn’t is involved in this yeah he was s so basically he went and said that he was initially contacted um he was told there was going to some launch a lot of people had said beforeand that they heard about a particular launch I certainly hadn’t um and um that there’d be Rumblings about for for months um and he said that they reached out to him um and offered to get him involved interview M all this kind of stuff and then he bought some tokens on launch but he also said that they gave him you know five million worth of tokens yeah an OTC over the you know after the launch and the goal he said okay great I’ve got these tokens so now I’m going to go and tweet that I’ve got these tokens and with the team I was given tokens Etc and they said no don’t disclose that yeah UND disclose sh so then he so he was told Dave Portner and actually I have to say like Dave poro was on our wall of Shame last week for his for his mcoin Shenanigans but um actually this he comes out pretty well he was told to do undisclosed Shilling of the project yeah and said I’m not going to do that and he sent it back yeah so he sent the tokens I think it was between something like six million or 6.5 million actual tokens that he was sent and he sent them back when he was asked to do this undisclosed Shilling but as he said he you know he believed in the project he believed that mle was kind of fully behind this thing so he then bought $5 million worth of tokens on launch after mle tweeted he said he would have bought $10 million if he could um but then obviously you know that money disappeared when the chart got absolutely nuked crazy thing is this guy Hayden then reimbursed him reimbursed him exactly and what’s more well this opens up a whole can of worms um and that’s basically to the effect that Dave porno was definitely not the only individual who was given allocation yeah behind the scenes and usually these people sent get these allocations sent because it’s undisclosed they get it sent to wallets that aren’t their public wallets and there was other people lots of rumors around who these particular KS could be um and uh yeah I think that this is you know it’s massively backfired on them right now um and you can quite rightly as it should um and of course it’s opened up this whole Salon mcoin debate and there’s this um chart that they they calculated here in terms of the total value extracted from the memes on salana so you include Barts pump. fun M Trump insiders Etc a total of three to 3.6 to 6.6 billion has left that’s not coming back yeah that’s gone straight out into uh Swiss bank accounts buying yachts and jets and all that kind of stuff for the people who involved in this complete value extraction um can we just have a look at this uh this this um tweet from based carbon um that was going back to going back to this idea of of influencers involved you know who was behind this um so as as they pointed out they were sending out millions of dollars worth of unlocked tokens unlocked tokens to influencers with the coin at A4 and a half billion dollar fully diluted valuation um $180 million of usdc in the liquidity pool and the the got absolutely muted people were Shilling this at launch people knew about this they were talking about it they weren’t disclosing the fact that they uh that they got sent these sent these tokens and some people saying oh we lost money yeah but bro I mean you lose money on your public wallet that’s good for show but what’s going on behind the scenes so there is a list out there I assume it it potentially made public but good you know yeah I think we we need to know who was involved in this obviously there are a lot of names being put about some you know some very well-known usual suspect aspects um we should know who is because this just this just cannot go on like this is like you know this is just and and I think it’s worth saying at this point like it’s very easy I think to blame you know to a portion blame in a situation like this kind of everyone’s to blame here like people who bought it are to blame they shouldn’t like especially people who were who were you know experienced crypto people and we’re going to talk about this in a little bit more detail when we look at tweets of the week and things like that but if you’re in crypto if you know anything about how crypto works and how it works nowadays and you bought into this and you lost money you deserve to you’re an idiot um you know the Insiders the Insiders who are buying into this as well you know this and not only that the Insiders who willingly brag on you know p in public forums that they are an Insider yeah and don’t think that what they’re doing trading on inside information is insider trading which is a crime yeah but of course you know there there is blame to be a portioned here to the likes of you know to to the fact that there are no clear regulations around this and I like it’s I suppose it’s easy to say well this is the sec’s Fault this is kind of the sec’s fault or certainly Gary gendler’s fault because for the last few years the SEC has been going after legitimate crypto projects it’s been going after the likes of coinbase and Unis Swap and binance etc etc etc and it’s left this regulatory vacuum and the scammers have expanded into it and this is why this sort of nonsense is happen happening this is why these people feel like I mean you’ve got people admitting on streams admitting in tweets that they have been insider trading they be that they knew about this coin like Melania things like that be and they’re admitting it because they know they can get away with it well they think they can get away with it one thing I will say and this is what I think is the the the positive SL to look at here is the fact that first of all the crypto Community is now turning on these people they’re going after them and if you are publicly doxed IND ual who’s known to have scammed a lot of people I wouldn’t want to be in your shoes any day of the week no money is worth that at all you know sleeping sound at night soundly at night from a morals perspective but also safety perspective is something I value so it’s not no amount of money that’s worth that and also even if they think they can get away with it in the current regulatory regime or lack or a vacuum the blockchain is immutable I.E it’s there forever so you know if you do something now that’s you know um illegal or unethical don’t doesn’t mean that in four years time when that change you get some new Regulators on board when they change the rules that they’re not going to come after you yeah yeah I mean look the wheels of Justice turn very slowly so whether or not the people involved with this will will actually you know be punished for what they’ve done I don’t know I mean I feel very cynical about the whole space at the moment because you know it is just it is just more of this you know this this environment where people feel that they’re able to do this and I would love to see the people behind this punish for what they’ve done I at the moment I just I just wonder whether they ever will be like it just seems that crime is legal if you think that you know if you think that that’s you know watch the entire cof because we even get on didn’t even get on to it yet but the coffee Zilla didn’t an interview with this guy yeah yesterday and he’s incriminating himself even more and what he says is so depressing because it’s such a fin Financial nihilistic approach like mcoins no crypto is worth anything crypto is not you know just to make from Bitcoin it’s not worth anything just what just what people say it is therefore bitcoin’s coins like Bitcoin and everyone here is trying to make money and if they only complaining if they’re not an Insider if they are an Insider they wouldn’t they wouldn’t be complaining and yeah he also admitted that yeah he’s happy to go and snipe the liquidity of his snipe the coin on his own launch yeah he also said that yeah I mean it was also an admission here actually which is interesting that he said that some people got early access to the Trump mem coin through um a private dinner so he went on there and incriminate himself even more but it’s just it’s just crazy um what this what things are turning out right now and this me coin like I said industrial compet it needs to stop it absolutely stinks we are we are leaving a link we’ve been we’ve already tweeted out some of the highlights from that coffeezilla interview um so if you go to our Twitter page you’ll be able to see those we’re also leaving a link in the description the full interview that coffeezilla does with this guy um Hayden um and yeah if you’ve got an hour or so after this stream I do recommend watching it it’s if you if you can stomach it because yeah as Nick says it’s it’s pretty sickening um I just went before before we move on I just want to uh bring up a couple of other points here um I thought that there’s obviously everyone’s got their take on this at the moment um I thought this was a really good take from Camila Russo um the founder of the defiant obviously she wrote the uh she wrote the book one of the books on ethereum um I just want to pick out this first bit what’s most disgraceful about Libra is that the scammers behind it prayed on the hope that many in the Argentina crypto ecosystem have that this technology can actually make a difference in the country with more official SLG government support and and yeah this is I mean saying that saying that buyers um you know people who bought this thing deserve everything that’s coming to them I stand by that I would say that there would have been some people especially in Argentina who saw president Malay tweeting about it and bought it in the innocent in the innocent expectation of of making a profit and obviously Argentina is a country where you know where a lot of people have have been suffering where the the population’s been suffering for years from hyperinflation and and and its effects and this only makes it more disappointing because there will have been kind of innocent people if you like who’ve suffered from this and in a country where crypto adoption was really coming on Leaps and Bounds and this is going to set it back in Argentina and elsewhere and I think that’s I think that’s just a miserable shame um so uh Camila Russo I think has every right to be angry there um also another interesting take on this from uh defi Legend um and your fellow South African Nick Andre cron yeah basically so he’s um tldr he’s basically saying well if this was a a traditional Ico the ones that we saw all you know the 2017 cycle he says he’s confident that they would have raised 120 million and they would have had the day uh wouldn’t have had any of the negative activity Associated um with the mcoin uh basically they could have put $30 million into a liquidity and everyone and they could have used some of the funds to go and invest in these in these projects in Argentina and basically it would have been okay but obviously icos no longer can’t be done because of SEC regulation is coming back to your point so they’ve gone from one angle where you had icos which was semi- egalitarian you know they were scams in the 2017 cycle but some were egalitarian ethereum Ico was richly rewarding for the initial participants um but now you’ve gone because of this L this vacuum of regulations to the complete end of the spectrum to this mcoins casino which is exactly what the regulations the SEC should have to protect consumers from yeah so instead of having a legitimate framework for crowdfunding of crypto technology like an Ico you’ve got me the goingo it’s Madness it’s Madness and like okay the I icos get a lot of get a lot of heat um you know there were a lot of very there were a lot of ridiculous icos that ended up extracting a lot of value but so many of those early icos were genuinely trying to build something useful and some of them like you know like ethereum and others have stuck around and are useful yeah um this just isn’t even making any pretense of building something useful it is just 100% value extraction and it stinks um we some positive news though have you guys heard about our brand Partners yes speaking of two crypto related projects that have built something useful very useful yeah exactly um we’d like to give a shout out to our brand partners of course um for supporting the stream um one of them of course is binance the biggest crypto Exchange in the world um and you can get a exclusive 20% trading fee discount for life as well as a $600 bonus by using the link in the description and uh if you are feeling a bit you know picky and trying to pick up some altcoins um that are really undersold and you want to store it or secure it in the safest cold wallet there is recommend The Ledger device so this is our second brand partner Ledger and you can buy they’ve got Ledger flex and Ledger Stacks the two latest devices really really um you’re going to do a uh I’m going to do an unboxing and setup guide to these uh pretty soon yeah two great devices um and yeah they’ve made a lot of made a lot of leaps forward in terms of ux which I think is really important for crypto so and I’ll also note you get a you get a $10 gift card when you purchase one of these ledgers using the coin Bureau link okay down below that’s in the description too okay so thanks to our brand partners binance and Ledger um buy it on binance secure It On The Ledger exactly okay let’s have a look at last week’s uh top performers um for obviously Libra wasn’t one of them thank God that that would have that would have really stuck in the throat wouldn’t it okay so first up um from from last week’s top performance now this is one I haven’t seen in in the list for very long time this is pancake swap yeah I mean this is all of the BNB season we’ve now moved to the BNB season right um this is all related to CZ tweeting about uh his dog broccoli right so he did tweet about his dog broccoli um but he also tweeted uh this story about how um they were testing out something on the B&B chain they had a sort of test meme coin um and and uh that’s that news of that got out and ran up to a half a billion dollar market cap oo that’s not a very good look though um yeah but so CZ tweeted about that if you see at the end of that tweet as well he sort of talks about everything that happens and then says happy [Laughter] trading oh Su please what market cap was that yeah wow okay yeah so um so that is why pan obviously pancake Swap and its cake token have been uh have been benefiting from all the activity around those meme coins and just sort of General uh me activity on on BNB chain okay next is Sonic which is previously fdm um so phantom um this has been surging I think as because of the defi tvl on Sonic has been surging lately um and it’s also got decent stake in APR compared to many of the other layer ones about 6% yeah which is decent um we need to do an update on Sonic soon for sure yeah I’ve actually seen quite a lot of kind of good sentiment around Sonic um it seems to it actually you know because I think the Rebrand obviously from Phantom to Sonic a lot of people were sort of like Rebrand but um yeah the people seem to be talking about it in in glowing terms Andre yeah defi DJ legend himself yeah yeah okay next up um of last week’s top performers is Lio kind of tricky to see any real Catalyst on this they have got a V3 upgrade uh the V3 upgrade coming soon um but that’s really all I could all I could find about that um then next up we have we have Ronan or and this is potentially relates to the pre-sale of fable born kingdoms which is a game on Ronin um it has seems to have been o oversubscribed yeah so demand and is driven there from that game pre-sale Y and our last of the top performers last week is Casper and Cass um again couldn’t hard to pinpoint a particular Catalyst but coinbase Advanced recently announced um Futures Perpetual Futures listing for Cass yeah uh so that’ll be that’ll be driving it Cass got listed on by towards the end of last year as well which kind of helped it surge so these sorts of announcements can often be pretty bullish and cast is also one of the proof of work coins still one of the profitable to mind proof of B coins I think right if I’m not mistaken yeah okay let’s have a look at some tweets of the week as usual um so first up this one from Udi verim yeah he says uh I I really don’t like the airdrop model man I mean I think if people want tokens they should pay for them nothing good comes from handing out exposure for free and I think it’s probably in relation to be chain Etc right yes gosh yeah I mean obviously bar chain was a big uh big launch last week um again fud around the airdrop I kind of yeah I see where I see where he’s coming from on this I mean that said we had we had seen some fairly successful air drops the hyper liquid aird drop was fairly successful I think the pudgy Penguins airdrop obviously penu is is down real bad but I remember that you know we were talking about that airdrop a few weeks ago seemed to go pretty well maybe because virtually everyone got some penu that’s true but also if you took a look at the floor price of the pengu the penguin nft collection itself it kind of fell after that so I don’t know but yeah I mean I guess it’s like I don’t know if there’ll ever be an air drop that can well hyper liquid is one potentially but the the uniso one when it was first invogue you know then the excitement was around there now it’s basically like it’s very very very hard to structure an airdrop campaign that isn’t attacked by sibles and if you do structure one that’s you know it’s very um stringent then you’re going to have a lot of blowback so it’s very difficult yeah and and uh nothing pisses people off more than when they don’t get as much free money as they were expecting um that’s crypto folks okay next up is this one from vitalik um yeah vitalic not really nailing the ship posting game on this one make communism great again yeah apparently this was in reference to a blog post of his to years ago when he was when he made a joke about it and he’s quite it’s quite ambitious of him to think that crypto Twitter reads his blog posts from two years ago Phil philosophi on on like uh but yeah I mean it didn’t come at the best time read the room I mean he’s trying to be funny but it’s just L last place you want be posting you know jokes like that it’s crypto Twitter communism is is not very popular in general but it is not popular at all on crypto Twitter yeah okay now this next one uh this is Plan B so this is interesting this goes back to something we were talking about um a little earlier Plan B um famous Bitcoin bull has transferred all his Bitcoin to ETFs yeah really interesting and you know credit credit to him for actually being willing to disclose this fully um because he knew that he’d risk the eye of Bitcoin Maxes which he did I say to him you know it’s his it’s Bitcoin is about Freedom it’s his right to do what he wants with his coins yeah and I think that his argument yeah is because it’s a lot more convenient for it to have him all the his coins to be or his assets to be in one location with a share trading account which is true it is and um you know I think that the question should not be why is he doing this is more like how do we as a crypto Community make the ux of getting and storing cold storing crypto and Bitcoin so so easy that you don’t have to worry about all these risks that do come with self- custody now I will cover out that I self custody I still say to people they should but I can understand why people would want to hold it in a place where it’s all convenient to have with their other assets right yeah and there are um uh stocks Etc in your share trading account yeah yeah this is uh I think an interesting interesting sort of point of where we are in where we are in in sort of crypto’s adoption and stuff like I I must say I’m surprised to see this but as you say I I can kind of understand some of his reasoning um but I’m still a kind of not your keys not your cryptos sort of chat but um anyhow okay let’s move on uh this next one um is David Phelps um incredible honestly people in crypto people in crypto now hate crypto even more than people out of crypto because guy we exist this place 24/7 to be honest I mean if people just watch that segment we did on the Libra coin and they have nothing to know about crypto yeah they probably would be like okay God I’m not touching this stuff yeah yeah I think um I think that’s absolutely true actually I know there are some professional crypto haters out there um but very you know very few who actually follow this and and I I always find this like you know step out of the bubble and people have no idea like I remember last year explaining dog with hat to something and they were like what they they not even heard of it um so uh yeah I think but I think this is very true I think also it’s because we very angry because it is a bastardization of the sector we we’re so passionate about right technology we so passionate about and people are just using it as a mass extraction event people who have no care about it they have no incentive other than just enrichment right yeah yeah okay um before we look at before we look at another tweet of the week um can I just remind you folks if we get to those 1500 likes I will tell you all about my experience last week when I tried just to get away from crypto for a few precious hours and it was uh it was denied me um so hit that like button poor favore uh but uh the uh the last tweet of the week we want to look at is this one from Kobe crypto OG again this is a pretty long one but just um the gist of it is the main new development is that market participants are now moth-like they actively rush into the scams mostly knowing that they are scams because the goal is to flip the scam for a 3X to somebody else yeah and this goes back to what I was saying about the people who kind of knowingly bought into this uh bought into this um ja this this Libra uh meme coin it’s like well yeah you know the attention has now frayed to the point that people are just trying to flip this stuff and if you try to flip these it never ends well yeah ex you know there’s always there are always going to be people sniping it quicker there are always going to be and you know that’s before you even coun in the fact that all the Insiders are dumping on you these guys move so much more quickly than you can ever imagine there’s insiders there’s people with these Bots that can snipe this liquid they can snipe the coin quicker than you can even fathom and you think you over there with your with your deck screen refreshing your deck screen and following the Tweet to some Insider group you’re going to you’re going to have a comp a Competitive Edge against them you think sitting there in the trenches basically you have some sort of an edge because you there all the time in the trenches like getting some insights or anything and going studying your onchain stuff there’s people who was way more tools than you to to extract as much liquidity as possible and there’s insiders they got the edge you don’t yeah yeah there’s always some prick with a stupid hairstyle who is uh who is way ahead of you um okay let’s have a look at some coins to watch for next week yeah so on the 21st of February uh we’ve got uh ton now is becoming the exclusive blockchain um and infra for the telegram messaging app and its mini ecosystem so this is probably natural progression um telegram has these light connections to tonin and yeah they’re going to it’s going to be the exclusive partnership for 2025 so this could potentially be good news for for ton additional use cases in use for the blockchain okay seems like ton coin has been quite quiet recently very quiet yeah was all the rage last year the beginning of last year yeah okay well let’s see all right and uh on the 24th of February um it’s a big one for ethereum the div ethereum devis will start testing the code for the pectra upgrade um on whole sky test net there we go yep so uh yeah obviously pectra is I guess uh you know I guess probably the sort of um Shining Light on ethereum’s Horizon at the moment or The Last Chance Saloon depending on which way you want to look at it yeah very true very true so it’s going to be an important one to see how that goes um so yeah that is that is coming down the pipe soon some dates for the diary as well um tomorrow 18th of February I’ve heard stop me if you’ve heard this one before but apparently FTX will begin some reimbursements yeah but there’s an important caveat here and this is for all claims lower than 50k and in total in terms of total claim amount that’s it’s relatively small like less than a bit I was like compared to to the total claim amount so I personally don’t think it’s going to have that much of impact on the market until we start seeing the bigger claims coming in um even though people you know the smaller retail May bid I don’t think it’s enough Capital coming in right now to pump things up yeah well it will certainly be good news if people at least start getting some of their money back because the sooner the FTX Saga is wrapped up the better okay um then on the 19th of February on Wednesday we’ve got the minutes from the fomc meeting so we’ll be know we’ll hear what Jerome and his Pals over at the FED were saying in their meetings at the previous fomc and then on the February the 20th we’ve got some economic data coming out um the initial jobless claims so previous number was 213k and uh the forecast for this time is 215,00 so keep an eye on the forecast as well as the actual number that comes out that will impact on markets potentially yeah yeah okay um so before we how are we doing on the likes front by the way 7 760 well not even half not even you don’t deserve it you don’t deserve it um well we’ll have a look at some comments and then if we have uh if we have the comments are thoughtful then we may have yeah um okay uh so i’ there was a couple of interesting ones that I wanted to uh flag up um this one um uh so from Phil s i quite enjoyed this one I wonder how those who fought in World War I would think about sitting in front of a screen buying imaginary money being called in the trench do you know I did I did sort of think something similar catching trench versus you know basically having to watch a screen for a bit longer than usual yeah it was like you know just a little over a hundred years ago being in the trenches meant something a lot different to how it is today it just show know how uh how how pathetic we’ve become softies yeah absolute softies I’m sure our I’m sure our great-grandfathers or whoever were there would be absolutely appalled um this one I quite enjoyed as well agree with guy if you’ve been here if you’ve been here around and bought that [ __ ] you deserve it amen AB personal responsibility guys y yep you got to take it um okay uh let’s see I think that was about it for live comments um uh so shall I shall I tell you what happened yeah even though we didn’t get enough lik though we didn’t get it let’s well okay so yeah so last week um uh Mrs guy and I we decided to take a few days off and we went to Sri Lanka which I have to say um if you’ve never been there absolutely beautiful place nice reminded me uh reminded me a bit of the SE shell just everything green lovely place but yeah just wanted a few days away from crypto so got there not too bad of flight from Dubai and as we got off the plane and we were searching for our taxi you know the people stand with your names and stuff I was looking for our names and I saw someone with a binance sign and I was tired and I was looking for you know I was looking for my taxi our taxi driver so I didn’t really think much of it I was binance and then so we got to the hotel which was about a two-hour drive from the airport okay so we went we went South to this quite nice hotel where we where we were booked we needed like good internet connection so I could do the live stream on Monday um got there really late went to bed next morning get up for breakfast go sitting in sitting in the uh in the hotel restaurant having a lovely breakfast and I look across and uh there’s a couple of people sitting there and they’ve one of them’s got like a binance hat on so I was like oh God binance again um it’s like and then I thought they bance really they really are they get they mer they they merch ghost places right here right here in Sri Lanka people love their merch so much right mer gamees killing it um Soh yeah so I was sitting there and then sure enough someone from someone who I know who works at Finance comes up to the table he’s like guy how you doing man great to see you I was like how what what are you doing here and he was like well it’s the binance campus so they were doing this they were doing this event for kind of K’s people in the industry now this is actually we went to the SE shell last year for the same thing so they were doing the same event but in a different they thought you would be you they thought you initially thought you were there for that guys was like what are the chances bro you know the same day the same day the same weekend in out of 365 days in the year the same country the same Hotel two hours outside of the city it’s like what are the chances I’m like run the numbers and the probability of that you got more chances of making a million coin I no it’s it was crazy so this guy was like so oh right so you’re here for the campus I was like no I’m not here for the camp I’m here on holiday it was uh yeah it was kind of weird Mrs guy was just sitting there arms folded and this you know this chat talking to very nice very Charming so he said said goodbye and wandered off and Mrs guy was just like are we going to be spending our entire stay here with crypto people no no darling I promise I promise you you didn’t get a lot of figure you didn’t get a lot of requests for photos with actually to be fair some of the guys came up um over the court we were only there for like uh a couple of days um a few people came up and said hello it was mostly um it was mostly K’s from sort of India places like that um so I chatted to a few guys all really nice all very complimentary um but it was it was quite chilled um but yeah I just remember thinking it’s like just just a couple of days away from crypto it’s it’s impossible it follows you around but this leads us to the most pressing question of all guy how was your stomach after the Sri Lanka trip oh yes someone well I don’t want to go into I don’t want to give too much away um there were some interesting times there was some dark times there was some it was um yeah it was was it was interesting it was but it was a great place I I did enjoy the food um if you I don’t know if any of you have ever had Sri Lankan food cotu what the hell is that it’s it’s a kind of it’s a it’s a sort of Curry dish but it’s got bits of Rotty bread in it and stuff and vegetable lovely okay so um so worth worth a struggle absolutely worth a struggle yeah worth a struggle um but uh yeah it was it was a really nice trip but yeah it was just it was just so odd I thought I was kind of hallucinating at first it was just like have I just accidentally come to a crypto conference by mistake yeah um but yeah there we are before we end of the stream guys I think let’s because it’s been such a dark day in crypto I think it’ be good to end this off with a bit of a laugh right so I think I found this picture from Lion King you guys want to put it up oh troll you guys know there’s Simba he’s been the crypto guy is born behold wow yeah this is one of my I was I was induced to share some of my uh some of photos there is entire collection guy CH yeah I think they all they all end up on Instagram a few years ago but I’m glad you’ve dug that one out on the yeah yeah so F so hopefully the fans appreciate it other than other than the addition of a beard not an awful lot has changed I mean I still got sort of rest resting [ __ ] face or whatever well thanks for sharing that guys I’m sure that was uh I’m sure that was worth it worth the price of the stream alone so um we will be back next week y um let’s hope um well a lot is going to happen in in the intervening time I think only G from yeah only yeah I hope I hope so but I imagine next week we will be talking more about um this whole Libra thing and uh maybe the lid will have been lifted yeah and some change will come hopefully blows some fresh air um but yeah thank you for watching and we’ll see you again soon soon cheers guys [Music] more important the of the hanging ey there R Beats the whale hanging great St team Lo your channel nice one guys who can take the cryp great stff team love your channel nice one guys the [Music] here we go
