[Music] come on do something btc down on the week despite
increasing institutional interest and the Bitcoin conference taking place in Las Vegas can its
upward momentum resume this week getting political crypto and politics are becoming increasingly
intertwined and not everyone is happy about it we look at how this relationship is deepening and
whether it’s going to be good or bad for our bags quit your yapping infoofi is taking over the
timeline is it the next big thing or a whole load of cringe and a look at last week’s top
performing cryptos dates for the diary tweets of the week heroes and villains and much
more besides this is the Coin Bureau News Live gm one and all go boys and girls Bitcoiner
altcoiner and shitcoiner alike and welcome to the Coin Bureau weekly news live stream my name
is Nick Guy how you doing i’m all right thanks Nick i’m all the better after hearing that very
inclusive include everyone a very broad church the coin bureau all genders all altcoin type
holders including the shitcoiners we need to include them as well well done well done for
wading into that into that debate i love it um yeah it’s been it’s been an odd old week hasn’t
it it has indeed yeah we we almost broke through 107K last week and then we came down again this
week and it’s now hovering above 104K and it was of course the Bitcoin conference last week and
um uh you know we’re going to talk about that of course around the concept of Bitcoin becoming
too politicized because of all of the politicians that were at the conference so we’ll be looking
at that we’ll also be looking at all these people making a loud noise on crypto Twitter yes i have
some Well I I don’t know i kind of feel like I want to I I I want to learn a bit more about that
because my initial reaction to that has been like why is this all over my timeline but it’s like no
I need to be a bit more curious about it people yapping about loud so we’ll be talking about that
this whole info info infoi concept and of course um we’ll be talking obviously just looking at
the Bitcoin price and where we could be headed this week um but before we dive into that guys
please fire up the likes don’t forget to subscribe and let us know your sentiment where do you think
Bitcoin could go this week where you feeling about the markets what sort of altcoins are you looking
at and we’ll come to them after the first section yes use the comment section as you always do so
wonderfully to vent your feelings about crypto and uh and whatever else is on your mind um and of
course we before we talk about the Bitcoin price we do need to address the question of what Nick is
wearing as you can see he’s got this interesting t-shirt going on i’m all over that but really
it’s it’s it’s what are you wearing on your legs Nick yes you see guys so I came back and I
watched the stream last week and I realized that uh the suit I decided to wear the pants were a
bit tight and it’s I noticed that many people make comments about my legs in these streams
which is unfortunate because they’re not really listening to what I have to say they’re kind of
like objectifying the way I look um I can’t help I got thick legs guys so I’ve decided that I’m
going to go for something completely unorthodox it’s not really long pants it’s not really short
pants it’s very baggy like three/arter pants so there you go so now you can’t be making comments
you can’t be looking at my legs now you can just listen to what I have to say all the ver the the
font of knowledge of crypto my crypto knowledge okay i mean I’m just checking prices now on the
on the revelation that you’re neither wearing trousers nor shorts uh Bitcoin is just I mean
it’s in freeall it’s in freeall doesn’t know what’s happening man you can’t factor that into
your analysis there’s no model that has to get counted for that tail risk event exactly exactly
it’s it’s it’s on you I’m afraid Nick it’s on you um before and just before we go on as well I just
want to highlight this from Brett Thompson we I I think we want to get away from this sort of
stuff guys i’m not going to wax my legs lie i’m not going to wax my legs not even an alltime
high guy certainly not for an E alltime high so uh Brett just just What is your level what is
your price level guy what to wax my legs live on air no how about this wax your entire body live
on air what’s your what’s your price level no one would want to say like we we wouldn’t have a live
stream long enough that would take that would take hours that would take hours to say nothing of
the of the fact that people would not watch it yeah i mean well some people would watch it
but I’m not sure they’re the sort of people that we would want um so you know waxing aside
let’s let’s move on to the crypto as possible as quickly as possible onto the Bitcoin price
so winding back to what happened last week so um Monday of course was Memorial Day in the US and
in the UK it was just drinking day I believe uh so there was no the markets weren’t open but that did
not stop Michael Sailor from buying so he bought uh $4,020 bitcoin for $427 million bringing micro
strategy or strategies total holdings to 580,250 bitcoin um so that so he’s still accumulating
uh he bought again today we’ll get to that in a bit uh on Tuesday though another company also
announced a Bitcoin buy and this was GameStop oh yeah so that that announced on Tuesday all 4,710
Bitcoin although the markets did not like that because GameStop’s share price tanked the next
day and I have a theory on that guy i think that it’s a whole thing about the meme concept right
in crypto the moment you try and give utility to a meme stock or a meme coin it it destroys the
mmetic value because theoretically the value of a memecoin is whatever you want it to be and you
try to ascribe a value to it or you try to attach a value to it of any fundamentals it loses that
mimemetic power so that’s the reason so a lot of GME holders it is GME so a lot of GME holders saw
this and went whoa whoa whoa with the fundamentals here i don’t want I don’t want utility for this
yeah exactly i don’t want I don’t want there to be a point i’m holding this for the for the
lols exactly yeah so that’s they sold exactly um interesting theory interesting theory seems
to have been the case um but there was another Bitcoin treasury company that announced last
week ah yes yeah trump Media Group uh well this is going to this is going to pop up a little
later on when we talk about uh crypto and politics but um yeah that was that was certainly one of
the big announcements of last week wasn’t it um and then speaking of Trump’s policies uh last
week Wednesday we had a potential reprieve from the courts in the US uh they struck down the the
tariffs Trump’s liberation day tariffs and this caused the markets to rally a bit although it was
a bit short-lived because the FOMC minutes were released on that Wednesday evening and they showed
that the Fed was still they were acknowledging there were some difficult trade-offs in the coming
coming months in the form of rising inflation alongside rising unemployment and you can see the
probabilities here for the Fed uh interest rate uh in December according to the CME Fed rate
watch and what’s interesting is you’ll note the light blue is where we were a month ago and the
dark blue is where we are currently and you see the entire distribution shifting uh to where uh
the markets expect rates to be at the end of the year one month ago we had a 91% chance of three
rate cuts and today it’s only 20% so it’s pretty crazy so rate cuts still still just not a thing
not a thing no um something else that potentially could have impacted on the Bitcoin price was the
you know this the the Bitcoin conference now if you’ve been following the Bitcoin conference over
the past few years you know it generally tends to mark a bit of a top and then Bitcoin starts
to fall and indeed um some of the attendees at the conference in this picture if you’ll
notice the guy in the with the arrow pointed him ah yes a serial offender if you like that’s
Mr steve Aayoki so if you were around crypto in the 2021 or 2022 cycle you know that whenever
Steve Aayoki would talk about an NFT project or a crypto project of any description it would mark
the top so um yeah okay interesting great DJ not a good market cycle picker stick to stick to music
bro that’s an interesting picture isn’t it there’s some there’s some uh interesting characters in
that brian I see Brian Johnson brian Johnson he’s at a lot of crypto conferences i think he
was at the one at token 2049 you know okay i mean I kind of you know I Brian Johnson this is
the guy who’s trying to stay alive forever isn’t he by has no one told him that if you if you get
involved with crypto it literally shaves decades off your life exactly brian I don’t know what
you’re doing i don’t know what he’s doing yeah not a good choice yeah i think I think he needs
to I think he needs to get into something less stressful than crypto if he wants to stay looking
eerily young yeah for uh for the rest of his life anyways that was Wednesday and then on Thursday
prices continued to slide because a court appeals court said that actually the tariffs are back on
tariffs off tariffs on tariffs on tariffs on it’s kind of like um so and then of course um well
I mean there was some good news right yeah so uh football club Paris Sanain announced at the
um Bitcoin conference uh that they were adopting uh going to create a Bitcoin treasury reserve yeah
now is it a coincidence Nick that now they’re the first football club to do this is it a coincidence
that a mere three days later they went and won the Champions League 5-0 i It can’t be it can’t be it
surely can’t it can’t be so there we go i think we’re going to have all the Europe UA or European
football clubs now accumulate in Bitcoin yeah well like the little I know about football is that uh
I do know that clubs like PSG are extremely I mean I think PSG is owned by um mostly by Qatar by the
Qatari royal family so I mean they those guys have a lot of money so you know if maybe maybe football
clubs getting into Bitcoin is the is the is the uh the white swan that no one saw yeah that’s soccer
for our American fans um Yeah yes yes i’m talking about real football here not not whatever it
is Americans do yeah um anyways and then Friday to uh on then Friday to Sunday on Friday we had
PCE numbers come out this is the Fed’s preferred inflation measure came out a bit lower than
expected which should be good for the markets and it was good for the markets however we also had
Trump come out reliably again revamping that trade war with China yeah he’s he seems to have toned it
down on the all caps at least in this one i think so i think he may have also accidentally left the
caps on on some of these and he just he doesn’t feel like I’m not going to go and change it you
know the auto the auto uh caps on the on the iPhone key keypad someone’s probably written an
entire book about Trump’s use of all caps there’s there’s definitely there’s definitely something
to it but yeah so well TLDDR Yeah tariffs are still a thing the trade war is still a thing and
we can’t we can’t forget about it unfortunately yeah exactly um and um also another piece of bad
news on Friday Meta doesn’t want anything to do with Bitcoin Treasury so this was this was Yeah
so uh shareholders took a vote on whether to add uh BTC to to Meta’s treasury 99% said no i mean
that is so there’s still a chance very small minority of meta shareholders are trying you know
they’re you know that’s I mean that says a lot doesn’t it i think that says that we are still
quite a long way away from this but yeah that’s an extraordinarily fullthroated was the least it
was the least supported item on the entire agenda okay i’m so glad we all agreed so far on
one topic that you just don’t want a bitcoin yeah well I mean I’d like to say to you know I’d
like to say to Mark Zuckerberg and Meta have fun staying poor but um I mean I don’t think that’s
going to play out yeah yeah they’re they’re not really um it was also a tough day the tough two
days Thursday and Friday in terms of Bitcoin ETF outflows about so the whole week in total we
had a net outflow which is you know when when it comes in it comes out it goes out as well so
um yeah uh so what’s happening this week well uh today was a very busy day firstly this
morning we had MetaPlanet the Japanese strategy accumulate an an additional 1,088 BTC bringing
their total holdings to 8,888 okay now that’s important because if you know in Asian tradition
and Metaplanets a Japanese company eight is generally considered a lucky number okay so this
is this is four times lucky four times lucky the holdings they currently have okay this does leave
them with a dilemma though and that means that um in order for them to remain lucky with their
holdings they’ll need to accumulate another 80,000 to take it to 88,000 yeah like unless they
do that then they’re going to they’re going to um depreciate their their quantity of lux exactly
yeah uh yeah uh and Sailor also did buy today um although it was only 75 million only okay so a
a pocket change pocket change indeed okay I will note though that his his buyers are fallen a lot
so this is the premium so this basically is the premium to NAV and this determines how many shares
he can really issue out there to go and accumulate capital to buy Bitcoin and this is at levels um
since not seen since March so this is potentially why it could be slowing as well okay so Sailor may
be running out of gas a little bit a little bit yep indeed quick look at where we could be going
this week in terms of prices quick few charts um one of them of course is this is the liquidity
pools we see there’s a lot of liquidity pools down around 100K so potentially market makers could
push the price of Bitcoin lower to re reach that level and accumulate some of the the orders over
there so keep an eye on that another thing to look at in terms of the 100k level and apart from being
a very psychological level it’s where the current 50-day moving average is forming so if we do fall
to fall lower and go to 100K it could form as a support okay although if we do break below that
97K could be the next level and that’s because we have a fair value gap on the weekly chart about
the 95 to 97k level so that’s the next target right yeah but the key to watch of course will be
what happens on the US pre-markets the US markets today pre-markets are a bit lower so it opens in
15 minutes we’ve got Jerome Pal speaking at 1 p.m as well yes there’s a few people asking about
that in the comments are we are we worried is this relative unscheduled it’s just fat on crypto
Twitter but we’ll get to that okay um but yeah if you guys want to uh keep up to date with trades on
the daily the playbyplay I’ll refer you of course to our very own Coin Bureau trading channel with
Dan the Man and Erin Dishner um so you can scan the QR code and subscribe over there and speaking
of Erin he actually released a released a video on the more coin bureau channel uh so this was posted
on the weekend and it’s basically a reality check whether the altcoins you are holding are dead
essentially you know okay that’s that’s it’s that’s a tough watch but it’s a good one it’s a
good one okay um would you like Nick a rundown of the sentiment in the comments let’s go man okay
uh a lot of people most of the argument currently is is revolving around football football yeah
it’s football um unless it’s American football um so we have a lot of Brit or European fans then
European watchers today we seem to Yeah we seem to have a lot of uh we seem to have a lot of people
you know who who like real football but someone makes a good point it’s like if your hand touches
the ball then it’s not football that is very true i mean but we’re just trying to be inclusive in
in in the ethos of our stream today to include all people and we would understand that some Americans
may not understand what we’re talking about when we say football that is the European football yeah
kenny says invented in the UK so it’s football a lot of great things were invented in the UK i
mean if you subscribe to the idea that Satoshi was uh was British because of their use of British
spelling might just say Bitcoin was invented in the UK as well so uh yeah you’re welcome rest
of the world the language we are speaking the language the whole of North America speaks
yeah well yeah yeah um so yeah generally uh other than other than debating uh football
um people seem to be fairly bullish um Eagle 7500 says it best long live the coin bureau yeah
we don’t hear that often enough viva Coin Bureau fantastic um okay so let’s move on and talk about
So one of the things that was flagged up in that in that excellent analysis you did there Nick was
uh Trump Trump’s media empire $2.5 billion they’re raising in order to buy Bitcoin now on the one
hand uh that’s that’s good news for our bags that you you would imagine um on the other it kind of
highlights a bit of a worrying trend that’s been emerging re I guess it’s become very prominent
in the last few months since Trump Trump won the election back in November but really this is
something that is has become you know a longunning theme and that is the extent to which crypto
bitcoin you know it’s sort of separately but you know let’s let’s use the whole term crypto is
becoming a lot more politicized and it’s becoming in general aligned politically with uh with
the right um and now this is in some ways a good thing because it is giving crypto some
political legitimacy it does mean that we have a better chance of getting regulations we’ve
seen what happens when a US administration for example is very hostile to crypto and that was
certainly not good um Trump’s interest in Bitcoin um and crypto more more broadly has been sort of
cheered from many quarters although we kind of got a glimpse of what that interest looks like
when when he released dropped his own memecoin just a few hours before he was inaugurated yeah so
I think what we what we were going to talk about in this section is the extent to which crypto is
becoming politicized to which crypto is becoming associated in the minds of many people with the
the right wing of not just American politics but polit politics across the world and is this a
good thing is this something that we should be resisting uh pushing back on or is this you know
is this ultimately going to be good for us yeah it’s unfortunate because Bitcoin was conceived as
apolitical and a response to a centralized bank bailout and government control and now it seems as
if it’s mostly being associated with one side of the political aisle yeah and Trump and especially
Trump right as the lightning rod for it and and talking about as I mentioned earlier the Bitcoin
conference it was very political this year so in the past we we would have seen industry leaders
there now it had a lot of politicians the likes of Cynthia Lamas um Bill Hagerty and then of
course the Trump’s two sons as well yeah and uh this therefore there was a lot of politicians
here and you had this situation where it’s kind of like politicizing Bitcoin yeah and this is I mean
obviously uh Donald Trump himself appeared at last year’s one and that was a very big moment but yeah
it see it’s it’s interesting isn’t it because like early Bitcoin conferences um from what I read you
know were obviously very sort of geek focused it was you know a few sort of true believers back
when virtually no one had heard of Bitcoin and then by the time I went to my first Bitcoin
conference which was in uh well we went in uh 2022 didn’t we to to Miami and I was kind of taken
you know I didn’t know what to expect to an extent but I was kind of taken with how corporatized
it seemed like there were you know there was a lot of business going on there and I guess
now we’re in the next stage of that evolution you know there’s still that corporate element but
now as you say there’s this big political element to it as well exactly and this is a problematic
because it it is now potentially slowing down uh some of the legislation we could see proc
crypto legislation that we were hoping to see being passed even some of the supposedly slam dunk
legislation specifically around the Genius Act it was expected to sail through Congress to and
it’s now become a flash point due to President Trump’s crypto dealings right and in early May
actually the bill failed to get it failed by a single vote 48 to 49 after the Democratic leader
leaders urged their colleagues to vote down the bill um and for instance Senator Chris Murphy
blasted Trump’s promotion of his own coin as quote the biggest corruption in the history of the
White House um so now this is obviously throwing a spanner in the works of the Genius Act which
like I say should be a slam dunk because it’s good for the US dollar dominance it’s good for the
treasury because stable coin issuers buy treasury bonds it’s good for the trady wants it and it was
supposed to be the easiest piece of legislation and now there’s actually acts being introduced the
end cryptocruption act now and that’s becoming the talk of the town so any chances of the mo the most
the the golden bill most crypto adherence want is the crypto market structure bill which can define
the security status and can define the regulatory agencies and now that seems like a bit of a
pipe dream given what’s been going on with how long it’s taken uh for the Genius Act and now the
talk about this corruption with crypto yeah and I think well on last week’s stream we talked about
this rather bizarre dinner that Trump had hosted um well you know if you call turning up for
20 minutes hosting but you know through at his golf club for holders you know top holders
of of his memecoin and I thought what was really telling about that or one of the things that was
very telling about that was the fact that there were a lot of protesters outside and they were
protesting you know in part against Trump but also they were very vocally protesting against crypto
as well and I think this is the you know this is the real issue isn’t it because as you say it’s
it’s having political effects you know in in that uh Congress is you know sections of Congress are
now pushing back because they perceive you the relationship that the Trump family has with crypto
to be a a little too close or you know a little self-interested but I think there’s also this
question of like you know for all the people who are big fans of Trump there are also quite a few
people who are quite the opposite and I think it in terms of public perception crypto is becoming
that you imagine sort of the anyone sort of to the left is just going to associate with everything
they oppose ideologically and basically you know it become something that is only you know only for
people of a right right leaning persuasion and and as you said earlier when we started discussing
this like that’s you know that’s not what crypto is about yeah exactly um so it’s just overpolit
politizing everything and you know crypto is supposed to be free from central influence yet
right now it bends under the weight of a single name there we go you know watching watching as
bitcoin price pumps um and as you also mentioned it’s not just the US yeah yeah yeah so this is an
interesting one so this is uh for those of you not from the UK or not keeping up with the snake pit
that is UK politics this guy is Nigel Farage who is emerging actually as a very likely contender
to be the next British prime minister um he’s sort of leading this insurgent political movement
called reform and he is he’s actually a very vocal advocate of Bitcoin although interestingly um
and I think he was on um Peter McCormack’s show back when back when he was doing what Bitcoin did
farage was talking because he got debanked i think it was last year or the year before bank yeah
refused to uh refused to well closed his account refused to serve him and um that was sort of one
of the things that led him to Bitcoin and as that headline said Reform is now accepting donations
in in Bitcoin and crypto but of course reform is very much a right-wing party or perceived as such
although weirdly it’s sort of actually a lot of the things it’s proposing economically are kind
of quite leftwing but Nigel Farage is definitely a very right-wing figure he’s very good pals with
Trump you know he’s he’s spent a lot of time with him appeared on the campaign trail with him etc
so yeah as in as in the states but to a slightly lesser extent um we’re seeing you know this
alignment of crypto and Bitcoin with figures on the right and in fact I think Poland has just
elected a new president president yeah also yeah seen more on the right side of it so this is
the thing and it’s unfortunate because Bitcoin is a technology crypto is a technology everyone
deserves financial freedom doesn’t matter what side of the political aisle you um you are on and
now it’s a situation that people just associate it necessarily with one side and the other side will
therefore resist it um won’t be interested in it and we’ll just view it through one particular
lens which is just unfortunate um so where do we go from here i suppose it’s important for
most of the crypto lobby groups to understand that and to try and also lobby for even people on
the other side of the aisle who may be interested about within crypto and are not necessarily
supporting one side or the other uh because it’s important to get that word across it’s not
about politics it’s just about the technology which is for everyone it doesn’t matter what creed
you are you know what party you decide to vote for it just matters about you want to control your
own financial freedom yeah and financial freedom is is personal not political you know so yeah I
think um I mean it’s it’s hard to know it’s it’s hard to know how this association is going to
be is going to be broken or you know how we’re going to make how we’re going to sort of market
crypto maybe to those people who aren’t sort of right leaning in their political views but I think
it’s yeah it’s it’s an important conversation and we I think we need to sort of keep pushing back
on it don’t we because as much as it is good to see politicians interested in crypto at the same
time we want all polit we I I guess it’s a case of either we want all politicians interested or
none at all it’s it’s a very difficult circle to square um so yes we need to uh we need to push
back on that uh on that creeping politicization of crypto as you can imagine Nick any talk of
politics has set the comments alike well let’s move into a bit of a lighter topic then and that
being the wall of fame and shame ah yes [Music] oh sorry ah that’s that’s always one of the
highlights of my Monday that that little tune I might Oh my god barney Rubble and Fred
Flintstone hey at least I look fitter than you that’s good yeah i mean I just look like a a fat
bro you’re not picking enough boulders you’re not going to You’re not going You’re not You’re not uh
You’re not picking up enough boulders bro you’re not doing your job bro that’s why I’m pissed off
with you you need to get lifted um okay well uh if you can see past that um let’s have a look at who
is on the wall of shame this week now this is an interesting one i don’t think we’ve done it before
when someone has been on the wall of fame one week and then moved to the wall of shame for another so
this is uh this is James Wyn the hyperlquid whale can you can you explain this yeah so basically
while he was up by about a hundred million or 80 to$100 million last week in terms of profits uh
unrealized I will note uh he now potentially he roundt tripped his gains and his current balance
at the time of this Arkham tweet was $16 um so you know he basically roundtrip generational wealth
um obviously he’s made light of it and says you know it’s not that not that much money which many
people on crypto Twitter would disagree with but also I think that there’s many questions and and
also there was a an account that was counterading him it was actually in profit so the inverse the
inverse hyperlquid whale but some had potentially speculated maybe that’s him counterading himself
hedging himself maybe he’s doing stuff on centralized exchanges he has been shilling this
meme coin called Moon Peg consistently and that has thrown off a few red flags in terms of like is
was he just using this whole hyperlquid whale uh and degenerate trading strategy to gain attention
which it has gotten obviously um and also I think in the background he was involved in some memecoin
stuff in the past um so yeah I think that when you roundtrip such generational gains you know I
think that you move from the wall of fame to shame yeah okay and it’s also not necessarily a good
thing for the community to see this and and think that engaging in such such degenerate unrisk
controlled trading with with billiond dollar positions is a good thing to be doing that is
that is not something we here at the coin bureau uh endorse in any way is it yeah that sort of that
sort of degeneracy is is is a little much for us so um yeah James Win I guess congratulations on
appearing on both walls that’s that’s quite a feat um so uh yeah let’s just tone it down otherwise
you might you might join the uh the permanent stable there meanwhile over on the wall of fame we
have uh the one and only Ross Albert yep indeed he gave gave a speech at the Bitcoin conference
last uh last week and he said um I believe in three principles: freedom decentralization and
unity uh and yeah he also auctioned off um some of his items he did didn’t he some of some of the
things some of his uh some of his stuff from jail i think he sold his he had his jail ID card or
something for 1.15 million yeah wow i saw someone say I refuse to believe someone paid 1.1 mil for
his ID card i think Ross is just laundering some of the Silk Road coins to buy these things um but
yeah someone did to be honest i personally would have kept that as the as a momento for I mean if
I was Ross because that you look at that every day seeing where you were just realizing how
thankful you are to be here i mean he spent 11 years in the big house i imagine he’s probably
knows he probably knows that is true that is true it’s not like I I can imagine though I can
imagine there are some hardcore Bitcoiners out there you know these guys who were mining it back
in 2010 who just got just you know real whales and they’re just like yeah actually that is a bit of
memorabilia that you know I’m pretty certain they would go and they could potentially sign it on
later you know so yeah yeah okay so uh Ross Albert um on the wall of fame it is good to have him
back he was Yeah it was good to good to hear him speaking exactly yeah yeah okay um now Nick you
mentioned uh when you were talking about James Wyn the hyperlquid whale there um and all his rampant
degeneracy um you mentioned something about him you know perhaps just doing all this to gain
attention um which leads us on quite nicely to our next topic because we’re going to be talking all
about um the attention economy if you like that’s springing up in crypto and I mean first I want to
address the fact that whenever I look at Twitter these days my timeline is just flooded with people
yapping people talking about loud well it’s either it’s either people doing this doing this um you
know engagement farming um with Kito and loud etc or it’s very long deep dives on how to
stake on Hyper EVM yeah um which seems to you know which seems to be a process more involved
than splitting the atom exactly some hardcore financial engineering going on in multiple Hyper
EVM protocols um but anyway so going back to going back to Kao um and all this yapping and stuff
i I imagine if any of you guys uh are on crypto Twitter then you’ve probably seen this as well
it is everywhere at the moment so we thought we’d better talk about it this is Infoi infopi indeed
it’s not in crypto who doesn’t have a fire at the end right absolutely so in vogue information
finance it’s a niche crypto sector focused on tokenizing attention and data effectively placing
a market value on user engagement and information flow in blockchain ecosystems so this is Kaiito
is obviously the pioneer in this and now Kao AI started in 2022 as some sort of a next generation
web3 search engine and infoi platform it uses AI to aggregate and filter information such as
structured data from X Discord forums research papers etc etc to provide this actionable market
insights okay so it’s it’s kind of aggregating all this all this kind of discreet and hard
to hard to um hard to pass data in in order for you know in order to sort of show you know I
guess the attention that a particular project is generating you know what people are saying about
it and to what to to what level how the quality of that information but now guy have you heard of
an initial intention initial attention offering or AO i have not well I have now oh now if I got
something to tell you guys so glad you didn’t so glad you asked um so basically Kaio introduced the
notion of an IAO uh so it’s a meta approach where token distributions are gated by user attention
and then the metrics used to make the sure the influencers have legit interactions okay and
um Kao is the back of a project called Loudio right yeah this is what I’ve been seeing
it’s like stay loudio just loud yeah yeah so what’s what’s Laaudio laudio so K K K K K
K K K K K K K K K K K K K K K Kito’s founder Yu announced that Kite Yes that’s his name yoooo
announced that Kito is incubating a new attention economy a project called Loud okay um this follows
their noise experiment okay so and uh so Loud this Yeah so this is um an attention economy platform
it’s on Salana right it’s on Salana yeah and it’s basically launched via an IAO on May 31st it
raised 400 soul by letting the early supporters of the project buy into the project at first okay
okay and this is an important thing to note isn’t it because this is not a VC backed project not VC
backed no insiders no private sales okay so that’s important to uh that’s important to to to focus
on um meanwhile let’s have a look at how it works then yep so basically every time someone trades a
loud the system takes a about a 4% of that profit in soul and puts it into a pool and then 80% of
that weekly soul pot goes to the top 25 people that are talking about loud on Twitter okay so the
top 25 the top 25 yep then the other 20% is going to anyone who’s staking in Kito or locked up Kaito
tokens okay so there so basically two ways to earn it you can either you can either stake like you
do so many blockchains or you can yap about it you talk about a project and yeah okay and and
this um this data aggregation that Kito does is able to see just how how effectively people are
yapping and and the quality of the engagement that they’re getting and the followers that they’re
getting etc yeah exactly so um the yappers are users on the crypto Twitter and they’re ranked by
Kaio’s mind share algorithm which tracks how much attention is generated for loud and um it doesn’t
it’s not just the mentions of loud because that’s just people spamming loud or using bots it’s also
how many people engage with those tweets and how many smart followers smart followers obviously the
people who have you know themselves are obviously reput reputable people on crypto Twitter that
interact with your posts so Kaito tracks not only it tracks the quality not the quantity okay
so yeah I mean obviously yeah that they would have spotted fair fairly early on in the experiment
that this was very um this was very you know the sort of thing that bots would quickly ruin if
if you didn’t put those sorts of those sorts of guardrails in place okay so I mean and I guess you
know in terms of in terms of what they’re trying to achieve in terms of attention I mean they’re
they’re kind of winning aren’t they because not only is my timeline flooded with this stuff but
we’re now talking about Exactly exactly well I mean it is it is an interesting concept uh though
and the idea of trying to make it egalitarian to the extent that anyone can actually tweet about
it and can participate um and there’s also a good tweet on it you got to try and risk being cringe
with your tweets with loud well yeah because I mean there was there is definitely like you know
I look at it and you know you see people tweeting about it and and that and that that in itself
is a bit cringe because like obviously people are tweeting in order to get in order to climb
the YAP leaderboard and basically make money you need to risk being cringe to make it big guys
here’s the uh very scientific graph uh the cringe versus cringe to others versus the value success
basically this the quicker you are cringe the more value you get okay and he he actually used a
good example in terms of the early YouTubers like the back in the 2010s if you think about some of
the cringe what they which we would have thought was very cringe like we’re not going to be doing
that that’s too cringe oh my god and now they’re massive successes now everyone’s doing YouTube and
everyone’s cringe on YouTube yeah here we are the kings of cringe yeah the kings of cringe um coin
bureau’s crypto cringe okay so yeah I mean there definitely there definitely is a kind of cringe
element to it and yeah it’s it’s that sort of sense it’s like yeah all right stop talking i I I
get the point i get your message but yeah as as I mean as we know from from working in this business
you know from running uh a YouTube channel um and you know other other socials accounts as well you
know attention is what counts isn’t it eyeballs is what counts um and that is you know like it
or not that is very much you know an internet currency and if you don’t have it you’re not
going to you not going to thrive yeah indeed um not all the coverage of uh you know loud has
been positive there has been questions around the fact that the part of the rewards go to
the top 25 people so they get everything so generally the top 25 are going to be those with
large accounts who have smart followers who are going to interact right although the Loudio team
has addressed this by clarifying that the initial rewards will include everyone who’s actually
contributed to Loud itself okay not just the top 25 okay and there are sort of there are they
are hinting at other sort of mechanisms there’s a 10% creators fee yeah or something answer okay
all right well so that is info i I mean I guess the I guess the question here is we we we sort
of see this kind of stuff come and go a lot in crypto you know this is this is the big thing
this is the hot thing at the moment everyone’s talking about Infoi we’re talking about Infoi do
you feel that this is something that can last is this another flavor of the month and in a month’s
time we’ll all be talking about something else i I think it’s interesting because it’s combined
two parts of the crypto ecosystem one is social sentiment tracking which there have been tools
like this in the past i’ve seen a few of these many even four five years ago and then also
the uh tokenized attention mmetics and now they’ve basically kito is a platform that’s about
information social sentiment but has included a token economy within it so financial incentives
so it’s an interesting concept whether it can be like a one- hit wonder um and you know comes and
goes that’s how everything generally what things are in crypto but it’s an interesting concept so
it’ll be interesting to see how it plays out to be honest yeah yeah it’s I I I guess I can imagine
Kito or if someone you know as as is inevitable in crypto someone will usually come along with
you know a competitor product or something but I can imagine this sort of dashboard would be a
useful tool going into the future you know in the same way that you in the same way that you would
uh check addresses with something like Arkham for instance you know you would also check social
sentiment you would also you know I have used I have I did buy a one month subscription of Kaio to
test it out okay and this is about 3 4 months ago and it was an early adopter I’m an early adopter
yeah okay well you know me I’m always first man always get out the gates uh but yeah uh it wasn’t
particularly fascinating at that stage in terms of like the tools and functional ality there were
other tools that were much cheaper because it’s quite expensive i don’t know if the prices have
come down i think it was over $1,000 at that time per month um but yeah what what they’re doing
with loud and these social experiments around tokenizing this attention and like we said not
just quantity of attention but the quality of it it’s an interesting concept okay well yeah
I I I think probably the the hype around this will will fade as it always does but I think yeah
there is there is a there is room for this sort of information i think and in fact I was looking at
the I was looking at the Kaio um page earlier and it is quite interesting you know you see something
like at the moment um Infinex you know this thing that Kane from synthetics is is developing like
that’s sort of number one in in mind share at the moment and that is it is useful to know what
because again this is this is an industry that thrives on mind share and attention doesn’t it if
you don’t have that you’re nowhere I think that’s likely been skewed because Infinex uh will be
will be air dropped to some stakers of kit or something so ah Okay um but anyway speaking of
social sentiment if you guys are feeling positive was asked as asked a question as to whether he
would ever do proof of reserves for strategies um Bitcoin helps yes this was really interesting
wasn’t it because he said you know he basically said no well he basically said “Trust me bro yeah
trust him bro.” Exactly um not not quite in those words obviously um and I think his argument
was something was sort of security you know uh opsec sort of angle which I can sort of see but
I think it’s important you know this is the this is basically the largest buying entity out there
at the moment hoovering up as much of this stuff as possible i think a we need to know uh you know
that it has the Bitcoin i I I don’t doubt Michael Sailor for a moment but it it is good to know it
is good to have this stuff proven and also we need to know the wallets because we need to know if
he ever starts selling exactly exactly you don’t want it to be in the current situation it’s a
situation where the only way you’d know that Bitcoin that he has sold is Bitcoin would tank the
week before he’ll go and make his normal weekly buy announcement instead of saying Micro Strategy
bought X amount of Bitcoin you’ll say strategy sold all of our Bitcoin thank you for being our
exit liquidity have fun staying qu thank you for playing you lose um okay so well done to well
done to the well actually so Arkham yeah Arkham actually also released um they actually were able
to trace uh Sailor’s wallet um through their the Gigab brains over there the onchain Sleuths and
they found at least I think about 85% of or 87% of the total MSTR holdings so credit to them
there yeah yeah good spot well done well done the folks at Arkham okay let’s have a look at the
top performers from last week um just to give you a little bit of a flavor Nick uh just outside the
top five today was tokenized gold i think it was either Pax G or or Xut uh which hadn’t moved very
much as you can imagine so there weren’t there aren’t a huge amount of gains to discuss this week
however leading the pack once again is SPX6900 yep mad’s baby right yeah mad strikes again he’s Yeah
he started a YouTube channel a Tik Tok he’s doing lots of shorts on on Twitter these days talking
all about SPX so I I admire the commitment man he is chilling his own bag he’s talking his book
and he’s committed to it so well I mean SPX has been as we’ve been talking about in the context
of top performers for like several weeks on the bounce now um getting getting quite sick of it
really but you know well done okay next up we have Dexi this is this memecoin and Dowo launchpad
i couldn’t really find a particular catalyst for this it just seems that chart guy there
must be you’re telling me there’s no catalyst someone fat finger the chart or something someone
actually looks like that’s a perfectly organic chart guy absolutely that’s that’s perfectly
organic buying yep yep that’s just that’s just demand that’s just the market yeah nothing
to see here there’s more buyers than sellers just market buy the whole lot okay um what have we
got next quant quant network now the pump might be helped by the recent release of Quant Flow yeah
this is some uh rather complex sounding product that Quant Network have what is what is a little
uh Quant Network is a very interesting project we’ve covered it for our Coinb Club members
in the past it’s you know this sort of idea of a blockchain operating system um what’s a
little concerning though is that this has been retweeted by the digital pound foundation which
is CBDC territory and quant network uh for all its amazing tech um and impressive price action for
Q&T is very much involved with the whole sort of CBDC push um which we don’t like so you think the
current government is involved with Quant network to launch that CBDC pound possibly although I I I
really feel that I think because Trump going back to the politicization of it you know Trump was uh
came out very against CBDC’s didn’t he it seems like a bit of momentum has gone out of that
movement and maybe maybe because we’re seeing stable coins just you know becoming the de facto
CBDC’s you know yeah but Quant Network is still you know still pushing the old CBDC thing next
up was Kronos CRO um so Kronos Chain’s been busy apparently you know check at that 68,000 wow 964
transactions yeah uh it suggests Crypto.com is doing has been doing some brisk business mind you
they uh they they recently unlocked Well they they said that they burned a whole and then they just
reintroduced tada tada welcome back to the supply they’re back oh you thought it was burned we’ve
recovered it good good news everyone we didn’t burn the tokens um so yeah so CRO has had uh has
had a big week and uh last but not least we have Toncoin now Ton uh Toncoin has had a very big
mixed bag of a week jeez look at that chart bro beautiful beautiful um it’s all over it’s
we we made we made it it’s all over and it was all because of this first I think that was
the pubble and in Um yes so first of all Pavl announced that they they you know they reached
an agreement with uh Elon Musk and and Twitter to uh to um for a partnership and then Elon Musk
tweeted that no agreement had been signed ouch ouch um but also uh they also um Toncoin um
they’ve announced a big integration with Athena um so USD is now on this 18% APY yeah impressive
stuff and I sort of imagine that probably doesn’t involve the ridiculously complex and involved
process that staking hype would do i I would hope that they’ve made that you know that yield is
sort of fairly easily easy to come by well do you know what I mean i I would like to know how they
get that yield because what the Athena AP or USD um yield is much lower right yeah at the
m I think on Athena it’s about 8% at the moment so where that other 10% is coming from
is I’d love to know guy maybe you could maybe you could tell me where that that other
10% is coming from i I I wouldn’t like to speculate but I’m sure I’m sure it’s uh
Yeah I’m sure i’m pretty sure it’s all about um but then so uh not only that but uh Toncoin
also the Ton blockchain also suffered an outage yeah busy week indeed yeah it was only for
about 40 minutes and it was fixed fairly quickly but yeah up and down but yeah Toncoin one
of the cycle market yep yeah tweets of the week okay first up Zack V has We We need to acknowledge
the fact that Zack V has provided us with a lot of tweets of the week in in really good [ __ ]
poster yeah yeah he’s he’s doing great but this is so true look at it what is he doing is he
making a loss what What trade is he placing right now is it Pepe is it Yeah is it Bitcoin we’re all
just We’re all just sort of laser focused on this absolute degenerate yeah he’s up to imagine you
were copy trading the guy it’s like I’m going to copy trade yeah well there will be people doing
that it would be a lot of people have done it you know yeah crazy okay um great tweet from
Zach there next up we have this one now Raj is one of the co-founders of Salana yes exactly can
you explain what happened here Nick so last week I don’t know if you guys saw uh his some of his
KYC photos were uh hacked apparently either but I think it was social engineering through fished
via his email and then they leaked these KYC photos which included like passport photos you
know when you hold them next to your head yeah and then I think not only him but I think people
related to him on the get this on the Instagram page of the Migos which are a rap group millions
of followers yeah so so that’s so bizarre cuz that that obviously got unhacked as well yeah so
they they had they hacked that as well and they wanted to get Max reach for these um for these KYC
photos and Raj you know he’s been humorous taking the humorous slant here always remember to dress
up smart for your KYC photos you never know what kind of reach they may get on social media well
as as they say Nick if you if you uh if you can’t laugh you’ll end up crying yeah I’ve taken that to
heart guy all of my KYC photos now involve me in a suit you know looking very astutely at the camera
i also send it to an editor to make sure it’s brushed up properly because you never know where
that could end up you know you’re going to you’re going to a studio and getting them professionally
done professionally done all my KYC photos you know perfectly done you don’t use you don’t use
some of the photos that uh that we’ve used for thumbnails that that’s my KYC photo down in the
down in the bottom there that’s what I used uh exchanges if one if the exchanges saw the photos
we used in our thumbnails guy they would shut our accounts immediately yes we would not we would
not be allowed to use them um okay so that is uh from uh from Raj yes what a what a what a
story that was okay this one from Eli Nagar i hope I’m pronouncing that correctly bitcoin
conferences shouldn’t feel like Coachella hard agree they should be three-day boot camps for
all ages teaching the history of money showing kids how fiat fails giving teens the tools to
build lightning apps and replacing panels with hackathons that’s the culture we need back to the
cipher punks the original cipher punk ideals love it yeah yeah probably that sounds much better
than you know Eric Trump wandering around telling people to buy ETH exactly ex um and speaking of
the Bitcoin conference this is our next tweet oh yes gosh just just when you think this industry
can’t get any weirder Justin Sun turns up at the Bitcoin conference fresh from his fresh from his
Trump dinner um and donated the $6 million banana can you imagine what Ross must have been thinking
wow okay I know these guys i know I know you know people I know that the people think the prison
life is hard but they think it’s that hard that I’ve been starving for a banana i think he’s
probably thinking two things one he’s thinking that’s not the original banana yeah and two he’s
thinking I can probably auction this for for quite a lot of quite a lot of Bitcoin next up on the
Ross on the Ross Orbre auction blocked going is the banana the $6 million banana this was on
my wall in in jail yeah yeah okay that’s tweets of the week uh let’s have a look are there
any coins to watch this week Nick anything we should be keeping our eye on there is one
guy okay there’s a very important conference happening on the 5th and 6th of June in Zuk this
is for the internet computer okay conference yeah participate in the Crypto Valley Conference
so keep an eye out guys in case there’s any announcements coming from this conference that’s
usually what happens around these kinds of things okay product upgrades you know partnerships etc
etc all right icp keep an eye on that then okay and let’s have a look at some dates for the
diary as well dates for the diary today of course is important day because Jerome Powell
is speaking um and this is the first time he’s speaking since uh Trump uh invited him to the
White House yeah so his irritable pal syndrome yeah there seems there seems to be a lot of
speculation that he’s going to say something momentous or that he’s going to resign do you
think I I looked for for any sources to this just crypto Twitter being crypto Twitter just
engagement forming there’s no rumors there’s no evidence that he’ll be announcing he’s stepping
down i mean he’s got a few months to go um tomorrow is actually also a very important day for
out in in the east because South Korea votes on a new president now this I think is interesting
because obviously we know it’s a cryptoc crazy country yeah and depending on who the presidential
who they elect it could impact on crypto policy and as a result potentially you know okay crypto
strategic reserves relax relaxing the restrictures on exchanges in South Korea okay oh you never know
so more more crypto politicization incoming but uh yeah that that will be interesting actually
the probably the most degenerate in soul nation South Korea when it comes to uh when it comes
to crypto yep okay anything else we should be looking out for and then on Friday of course NFP
day love our NFP days right always uh forecast um for the NFP this month is 125K previous was 177K
and then we’ve also got the unemployment numbers at 4.2% expected versus 4.2 to previous okay okay
all right i’m just going to uh I’m going to give you a quick rundown of um of what people have been
saying in the comments i think that people have um people have kind of got over your your leg your
leg attire i think pirate pants pirate pants is that I like that yeah that is true actually I look
also Aladdin pants i thought I also looked like a bit like Aladdin I’ve actually they actually very
are very comfortable you know you I’m now kind of a fan because you can kind of walk around and it
feels like you’re not wearing any any any pants but you actually are so thank goodness i know you
know I mean society nowadays frowns upon people not wearing pants can you believe it and um yeah
I mean I’m with society just just so as you know society and me are on the exact same way flow guys
you know so relaxing so comfortable i’m just like I got like three pairs now i’m just going to wear
it all the time fantastic i’m I’m so pleased Nick i’m so pleased um Jerry Mandarin has got some uh
that’s a great name has got some terrible ideas whack the Bitcoin logo into your chest well
is this is this what we have to do nowadays this is terrible um hi guys are you worried
about POW speech no nick is pretty chilled so if he does say something momentous um then we
can blame Nick yeah probably i imagine the guy announces he’s resigning jeez yeah um Nate Bondi
says “I actually made it into here while this is live.” Well done Nate it’s good to have you my
friend welcome welcome um and Jerry again uh speculating maybe Powell is going to announce he’s
the real Satoshi whoa he’ll be That would be that would certainly uh be an interesting development
or he comes out and he and he talks about loud his engagement farm in Kao i want to tell you
about a project I’m very interested in stay loud stay loud didn’t he talk then yeah just spikes
up on the leaderboard j Paul’s Twitter account starts yapping about loud screw the inflation
rate i don’t care about inflation talk about loud right now i’m not here to talk about let me
tell you about the something far more important um both Well I I’ I’d be all over it um Graeme
Conquer which is a fantastic name especially if it’s real guy you inviting me this year to
your party since I’ve been here since day dot what party what party yes day dot ben Cowan who
has an annual party what is a day and we missed that that was at the Bitcoin conference day
dot well I mean we did have a part slight party around token 2049 where Oh that’s true anyone was
welcome to come um you know if they came on time and didn’t come after a certain cut off time you
know but um day dot okay well come along to the next one Graeme bring that wonderful surname of
yours um okay uh now this is an interesting one um in response to I think what we were talking
about in terms of politicization Gavin says it was just a matter of time before the oligarchy
took control of Bitcoin by buying up a critical mass of Bitcoin so that they set its price and
therefore control it i I’m not so sure around the around the setting up price but I mean it it
is kind of I guess as Bitcoin becomes more and more popular you are going to see more of this you
are going to see more larger entities accumulate the million is free and permissionless anyone can
buy it right and you still have a chance to buy it it’s like but uh the more that these billionaires
and millionaires are accumulating it the less the supply is available for everyone so now is
your chance to get something that is coveted by everyone including the billionaires yeah uh Brett
once again disgracing himself in the comments guy should be on the wall of shame for his singing
last week fine fine well that that’s me no more no more singing no more singing last week uh I
can’t remember oh was it wonder oh maybe maybe I forget obviously he sings so often he called me
i mean I’m singing all the time i was basically like a melody this time the whole time in the
office inside i’m um and we will leave it with this great one angel’s guest list crypto is a
freedom play there is no compromising that amen brother absolutely amen absolutely all right
uh that is it for today thank you everyone for joining it’s been great to see you again uh
Nick this was fun next week same time same place same place there you go as always man all right
see you guys there we’ll see you then [Music] mix is wearing pants today i’ll see y’all next Monday nick’s jacket button is stronger than most dolls does Nick have court later
guy looks like he’s on trial when Nick is his lawyer guy can’t wear a suit
till he sells his ease dressed up Viking dress down best guy best guy guy shot the
thrift store didn’t know guy had epilepsy [Applause] [Music] no no
