WEBVTT

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[SPEAKER_03]: All right, everybody welcome back to the crypto run down a special Tuesday edition.

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[SPEAKER_03]: It's a two for Tuesday.

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[SPEAKER_03]: We've got Hunter.

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[SPEAKER_03]: We've got Brendan and guys Wall Street is buying crypto.

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[SPEAKER_03]: What assets are Wall Street?

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[SPEAKER_03]: They're buying the top crypto assets right now.

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[SPEAKER_03]: We've got not only the data, but we've got the names that are gobbling up assets.

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[SPEAKER_03]: They're long time legends of Wall Street that are really buying and diving into the crypto assets.

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[SPEAKER_03]: And that's why you're here on the run down.

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[SPEAKER_03]: top wall street advisors are buying in the crypto space.

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[SPEAKER_03]: So let's jump right into it.

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[SPEAKER_03]: You see it on the screen here.

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[SPEAKER_03]: Fellas welcome back to the show.

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[SPEAKER_03]: Let's start with you.

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[SPEAKER_03]: We haven't heard from you in a while.

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[SPEAKER_03]: What do you see in just in the price action?

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[SPEAKER_03]: You see the top 20 there.

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[SPEAKER_03]: 1% or up 2% over the last seven days Bitcoin 1.8.

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[SPEAKER_03]: ETH 2.6.

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[SPEAKER_03]: But still, in fear and the fear and greed index, what has your been your holistic view?

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[SPEAKER_03]: Obviously, we're doing content every day at Crypto 101 and on Thursdays, you or Brendan are sometimes both.

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[SPEAKER_03]: They're doing some technical analysis that everybody can check out.

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[SPEAKER_03]: But instead of being away from the charts, what's your vibe of just seeing the price action from the high level?

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[SPEAKER_02]: Yeah, I think we've had a bit of our price capitulation.

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[SPEAKER_02]: In other words, people have kind of surrendered in that regard.

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[SPEAKER_02]: Now we're just experiencing some time capitulation.

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[SPEAKER_02]: So it's one of the end of the summer.

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[SPEAKER_02]: The kids haven't gone back to school yet, but they're about to the hedge funds.

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[SPEAKER_02]: They're coming back to make their big decisions for the next year.

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[SPEAKER_02]: You know, the beginning of September.

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[SPEAKER_02]: That's how it always works.

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[SPEAKER_02]: And so I'm just seeing a little bit of a lull before the storm, and I do prefer the upside, but I'm treating this as a range of very tight range, and when we get into range environments, I actually don't really take much of a bias.

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[SPEAKER_02]: I just kind of play the extremes of the range.

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[SPEAKER_02]: And so we're kind of back to the top end of the range right now.

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[SPEAKER_02]: So we'll see if we get some selling here, but we had had a really good day today.

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[SPEAKER_02]: Some good volume coming in and kind of confirming a bit of the move up, but we're going to need to see some fall through none of the

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[SPEAKER_02]: I am the longer we sit down here the better I feel because they say never short of dual market and that usually is the impetus for a squeeze so I do like it overall.

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[SPEAKER_03]: Love that.

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[SPEAKER_03]: Brian has said similar things about that brand and we've said this over the years it's uh you know they'll shake out and then they'll wear you out again you know going off of what hunter just said that feels where we are so anything uh you know the bird's level view here

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[SPEAKER_01]: you know as I've said a little bit before I think you are starting to see some early signs of seller exhaustion we'll see how that continues to play out but I think this is an area where you want to be paying attention you want to be looking at what's working there still is a lot of underperformance across the market there's some other crypto projects that are really taking off as well I think if you're looking at the markets right now you have to plan to the strength

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[SPEAKER_01]: And we're just not in and in everything cycle yet.

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[SPEAKER_01]: You still have, I would say, a lot of like made the small caps more so on the underperforming side.

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[SPEAKER_01]: Crypto is a whole still down, but, you know, I'm a big believer that there's deep value in here.

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[SPEAKER_01]: It's always funny that people want to buy the least when it falls, and they always want to buy the most when it's at all time highs.

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[SPEAKER_01]: You know, here we are, we are very close to those cycle lows for a lot of projects.

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[SPEAKER_01]: And, you know, there still is that capitulation.

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[SPEAKER_01]: that I think we're seeing here where people just give up and they don't want to buy and they don't want to accumulate more and I think that that's a point that you have to reach before a reversal typically happens.

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[SPEAKER_03]: Great points.

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[SPEAKER_03]: Great points.

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[SPEAKER_03]: We're starting to see a lot of assets gain momentum whether it's on the charts with the price or people buying them like we just said the top some top our top wealth advisors on Wall Street are dipping into the crypto assets and that's what we're going to cover for the rest of the show but before we do that

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[SPEAKER_03]: We are running a promo.

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[SPEAKER_03]: We got the number one coin to own so we're gonna talk about what coins are breaking out We're gonna talk about what other people are buying the top our top Wall Street traders are interested in But if you want to know what hunter Brendan Bryce and the rest of the team They've built a report for the number one crypto to own right now the link is in the description on YouTube and on our Crypt Nation website so make sure you check it out shout out to the chat

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[SPEAKER_03]: couple people in there if you can give us a thumbs up we really appreciate it and let us know where you're watching from today in the chat as we continue on guys is the theory and breaking out Little momentum over the weekend stuff you like to see starting to get some chatter.

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[SPEAKER_03]: I remember I was I just got a notification.

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[SPEAKER_03]: I was on a flight

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[SPEAKER_03]: and it was like, you know, some crypto account.

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[SPEAKER_03]: I love to follow and somebody was like, I can't believe my e-fags are moving to the upside.

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[SPEAKER_03]: So some fun positive price action in e-th, uh, Brendan, what do you think?

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[SPEAKER_03]: I think we got a tune into the charts with you guys later this week to get a full technical breakdown.

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[SPEAKER_03]: But what are the vibes like on crypto Twitter?

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[SPEAKER_01]: Yeah, well, I wanted to give a sneak peek of this.

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[SPEAKER_01]: You're right, we're going to be covering Ethereum on Thursday.

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[SPEAKER_01]: So stick around for that.

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[SPEAKER_01]: We're going to have a technical analysis session where we're going to reference this.

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[SPEAKER_01]: But listen, it's been a big outperformer since the lows came in for Bitcoin and Ethereum.

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[SPEAKER_01]: And I would say a lot of the crypto market here so far.

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[SPEAKER_01]: If you measure Ethan Bitcoin off of their lows of this cycle, Bitcoin's rallied about 16% from bottom to top, and Bitcoin's are, excuse me, yeah, Bitcoin's rallied about 16% from the bottom to the top, and Ethereum's rallied nearly double that.

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[SPEAKER_01]: Almost 32% off of its bottom to this most recent top that it put in, not that long ago.

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[SPEAKER_01]: So you have Ethereum here, not only outperforming, I would say the crypto space is a whole

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[SPEAKER_01]: maybe month and a half or so, but you know, even doubling bitcoins performance to the upside, they're right.

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[SPEAKER_01]: And I think that this shows it with what I believe to be in each emoku cloud on the screen here.

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[SPEAKER_01]: But we're going to get more into this Thursday.

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[SPEAKER_01]: I would just say it looks as if sentiment is shifting and you're going to see that as we go through the news here.

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[SPEAKER_01]: And the technicals are a reflection of that.

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[SPEAKER_01]: So more to come on Thursday, but Ethereum here is getting a nice little push to the upside.

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[SPEAKER_01]: And I think this is something we want to continue to follow and

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[SPEAKER_01]: is out on.

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[SPEAKER_03]: Yeah, and we always follow, you know, who's buying the big names?

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[SPEAKER_03]: Obviously, Tom Lee and Bitmine being that, that, that, that just continues to buy.

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[SPEAKER_03]: We've had sharp link on the podcast not too long ago.

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[SPEAKER_03]: We'll get them back in the fall to hear what they continue to do.

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[SPEAKER_03]: But it's, it is really the night and day and we covered this with Brian last week was kind of the compare and contrast of Tom Lee and Bitmine versus strategies doing with their strategy and their preferred stock and all those things.

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[SPEAKER_03]: from a from pitmoin and then one of the most interesting things that I think we saw over the last week is bank of america making a notable moves kind of putting some chips on the table for ethereum um hunter any interest in bank of america diving in to whether it's bit mine or ethereum in general does that that tickle your fancy?

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[SPEAKER_02]: It does.

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[SPEAKER_02]: It always does.

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[SPEAKER_02]: I love when, you know, the institutions tell us a few years ago to hey, we're not getting invested and all they're doing is silently filling their bags and then now they're telling you that they have been filling their bags.

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[SPEAKER_02]: It tells me that they already knew they were skating where the puck was going and they already knew it and I'm a big fan of this.

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[SPEAKER_02]: I always have been when we see stuff like this, especially with just cumulative ETF flows consistently getting bigger and bigger.

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[SPEAKER_02]: I'm both for Ethereum and for Bitcoin and of course as Ethereum goes so does maybe the whole all-coin market eventually so you do want to see Ethereum kind of be the breadwinner here when it comes from a inflow standpoint on the ETF so I'm a big fan.

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[SPEAKER_02]: And also, I guess, you know, this also kind of correlates with a lot of the stuff that's going on, which we're going to talk about later with the Genius Act and everything like that as they get a little bit more insight into the guardrails for them allowing to, you know, issue stable coin and stuff like that that might be allowed to be purchasing theory on the stuff behind the scenes.

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[SPEAKER_02]: So we'll see how that works out.

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[SPEAKER_03]: Yeah, it's a great point of, you know, what's the use case for theorem?

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[SPEAKER_03]: Why would the price be going up?

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[SPEAKER_03]: What are the fundamentals behind it?

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[SPEAKER_03]: So we'll talk about that genius act.

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[SPEAKER_03]: Then a little bit of a clarity act up towards the end of the show.

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[SPEAKER_03]: But then Brendan, what building on what Hunter just said, the, you sent this link in is the RWA's or just, you know, continue to go up into the right.

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[SPEAKER_03]: So, you know, you're taking on that plus Bank of America dipping their toes in.

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[SPEAKER_01]: Yeah, you have everyone kind of dipping their toes in here and getting more involved at the theory.

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[SPEAKER_01]: And I think that the narrative here has really shifted from where it was, even six months ago, a year or plus ago, there was a pretty bearish vibe in sentiment around Ethereum.

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[SPEAKER_01]: And there was a much more bullish sentiment on Solana.

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[SPEAKER_01]: I think what you've seen here is the recovery of the Ethereum narrative.

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[SPEAKER_01]: And it get really strong here as there's been

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[SPEAKER_01]: consistent growth and adoption across not only ethereum, but also across some of these big infrastructure or industries that are kind of related to ethereum.

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[SPEAKER_01]: Stablecoins, RWA's, tokenization, you know, some other ones as well.

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[SPEAKER_01]: But this is a great example of that saying, hey, you know, we have institutions coming in.

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[SPEAKER_01]: You have people switching away from Bitcoin and maybe other chains and focusing on an Ethereum.

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[SPEAKER_01]: You have a lot of funds growing and here it's saying the RWA market cap is continuing to go up into the right here when it relates to Ethereum as well.

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[SPEAKER_01]: So I do think what you're doing here is setting up a lot of the infrastructure for future success.

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[SPEAKER_01]: And Tiva, this is something I think we've talked a lot about in the past two weeks.

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[SPEAKER_01]: is talking about why I think that there is a huge gap between what has happened with the theurium and where it's currently priced at, and I don't think a lot of that is priced in.

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[SPEAKER_01]: Again, that's my personal belief, but I think that there's a huge disparity between the amount of adoption and growth that Ethereum has seen and where people are trying to place it down the road, especially some of these big traditional financial players.

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[SPEAKER_01]: And how they're looking at it, you know, a year or five years, 10 years from now, and I think how it's currently being priced, and I just think that that's what capitulation and bearishness does.

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[SPEAKER_01]: And again, I just think that there's a little bit of a misunderstanding here when it comes to youth, which is great, I think, you know, if you're like me and you believe in that, then I think that there's a great opportunity.

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[SPEAKER_01]: But now, you know,

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[SPEAKER_01]: We'll see.

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[SPEAKER_01]: But this is just another chart kind of showing that, hey, there are a lot of things on eats, you know, just because we're in a bear market, just because we're coming off, you know, why 60% retracement plus off the highs, it does not mean that there's not a tremendous amount of stuff going on behind the scenes and that there's not a lot of, you know, good growth numbers because there is.

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[SPEAKER_01]: Um, so yeah, you know, happy to show this, happy to kind of show everyone a peak of what's happening behind the scenes.

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[SPEAKER_01]: And we do this a little bit, you know, week by week, right?

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[SPEAKER_01]: We'll show one sector, one week, we'll show the next sector, this week, you know, we're showing the RWA stuff and big funds looking at going away from, you know, something like strategy and over into Ethereum, but, uh, yeah, a lot's still happening here and it feels like that's been a trend for a bit now.

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[SPEAKER_03]: Yeah, a lot is happening.

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[SPEAKER_03]: And as we move along outside of Ethereum, there's some interest on Wall Street for some top crypto assets.

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[SPEAKER_03]: The 13F filings came out and for those who don't know, the 13F's, when those come out, you get to see the top investors in the markets kind of have to show what they're investing in.

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[SPEAKER_03]: And it is delayed.

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[SPEAKER_03]: It's not like this happened last week.

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[SPEAKER_03]: I believe they're quarterly.

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[SPEAKER_03]: Gentlemen, is that correct?

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[SPEAKER_03]: Yeah.

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[SPEAKER_03]: So quarterly 13 F's are coming out and we have two to touch on here, one with Bitcoin and then one with hipes, you're going to stick around for the hype one because I find that really interesting.

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[SPEAKER_03]: But we'll start with PTJ, a Paul Tudor Jones continuing to show confidence in Bitcoin.

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[SPEAKER_03]: He's a long term Bitcoin holder.

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[SPEAKER_03]: He's been around.

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[SPEAKER_03]: I think you love the number one you still see him around and not sell and then buying at these levels shows a lot of conviction of the in the where you out phase.

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[SPEAKER_03]: So the 13F for Paul Tudor Jones came out, fellas, interested in that are no news.

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[SPEAKER_01]: I would say that this is important, right?

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[SPEAKER_01]: He's been someone who's been pretty bullish on Bitcoin as a whole.

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[SPEAKER_01]: However, I believe he was selling a little bit and maybe I forget where the exact post was.

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[SPEAKER_01]: But to see him getting bullish and buying in here again, I think is a net positive, right?

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[SPEAKER_01]: So historic investor, not someone that I definitely want to be fading, so if he's coming in here and looking like he wants to be a buyer, then I want to be bullish with that.

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[SPEAKER_01]: I think that that's net good news.

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[SPEAKER_03]: Yeah, I've just got to give me a fight on the price.

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[SPEAKER_03]: It was a sig.

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[SPEAKER_03]: Sorry.

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[SPEAKER_03]: No, I was just going to just build on Brennan's point.

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[SPEAKER_03]: He was, he never completely sold out of his position, but he was trimming all of 2025, which, you know, hindsight.

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[SPEAKER_03]: Yeah, 20, 20.

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[SPEAKER_03]: That wasn't a bad play.

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[SPEAKER_03]: And then, you know, as we get into 26 here, he's adding, you know, averaging back in.

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[SPEAKER_03]: So as of now, it looks like, you know, that cell-off our trim was a good call and he's dipping his feet back in.

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[SPEAKER_01]: I think you're seeing that across the board too, right?

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[SPEAKER_01]: Is that people are really starting to dip their feet back in?

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[SPEAKER_01]: Last week, Tiva, we talked about how hedge funds on CME are net long, which is a very rare thing to see.

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[SPEAKER_01]: You're also starting to see that there are signs, again, that buyers are coming back and that there's interest coming back.

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[SPEAKER_01]: I would say that this is just another example of that, you know, even the bears who have been somewhat bearish, whether it's short-term or long-term, I think that you are starting to see big money, smart money, whales, whatever you want to call it.

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[SPEAKER_01]: I think you're seeing signs that they're coming back with a lot of interest and they're saying, hey, you know, we're starting to see value down here and that's a really good thing.

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[SPEAKER_03]: Yeah, go ahead, Hunter.

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[SPEAKER_03]: Sorry to cut you off earlier.

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[SPEAKER_02]: I was going to say wasn't his investment kind of prowess all from like oil or the energy sector or something from the past.

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[SPEAKER_02]: I was the big oil tycoon I can't remember what his investment.

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[SPEAKER_02]: Because I was going to say if that's the case like that's such a juxtaposition to crypto so you would like to see that kind of crossover.

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[SPEAKER_02]: But I might be getting him mixed up with somebody else.

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[SPEAKER_03]: Yeah, I don't know about his oil, uh, his oil, uh, holdings there.

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[SPEAKER_03]: Um, but yeah, just obviously a long term Bitcoin holder, but somebody that clearly has been in the markets a long time has a big diversified portfolio has a risk management.

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[SPEAKER_03]: Um, and you can kind of see from, you know, his sell off in 2025 probably, uh, you know, just rules that he follows for gains that he had trimmed some off, uh, and now he's buying the dip.

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[SPEAKER_03]: One of the most interesting things I saw from this last week is Stanley Drunkenmiller, another long time veteran of the markets.

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[SPEAKER_03]: I think a lot of people would put them up in their top of historical funds that have performed really, really well.

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[SPEAKER_03]: So the Stanley Drunkenmiller family office has entered hype through Per, P.U.R.R.

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[SPEAKER_03]: The macro legend now is hype exposure through the equity wrapper, and I find this really interesting for a long time veteran to get into this.

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[SPEAKER_03]: I was thinking either the research led him to hype or they have some really, really cool intern at the Stanley Junk and Miller office this summer.

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[SPEAKER_03]: Brendan, what do you take into this?

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[SPEAKER_03]: It's not a huge position, but traditionally, you know, with his type of investing style, they buy and they have a thesis and they hold.

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[SPEAKER_01]: I am kind of surprised that they bought her the hyper liquid strategies as opposed to just outright hyper liquid through like an ETF.

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[SPEAKER_01]: I would have thought that that's that would have been the move.

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[SPEAKER_01]: So I'm a little bit surprised by that.

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[SPEAKER_01]: I'm not surprised by them getting hyper liquid exposure, right?

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[SPEAKER_01]: You've seen it have a pretty strong pullback off of the highs.

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[SPEAKER_01]: Um, hyper-liquid, you know, really falling back in.

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[SPEAKER_01]: I think it was about a 33% move from its all-time high back down here recently.

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[SPEAKER_01]: You have seen a little bit of a balance.

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[SPEAKER_01]: You know, I think it bounced just over 10% back up a little bit.

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[SPEAKER_01]: So I think they're looking at this thing saying, hey, you know, there's,

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[SPEAKER_01]: astronomical numbers of what they've been able to put out.

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[SPEAKER_01]: I think that they have a pretty good token of mixture and they're saying, hey, you know, we're going to be buying this thing, you know, even after it's a little rebound, he's still down over 20% from the highs.

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[SPEAKER_01]: And I think they're looking at that.

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[SPEAKER_01]: And I think that this is a broader move to say, hey, we can get exposure to something that has been fairly strong.

17:04.746 --> 17:07.209
[SPEAKER_01]: We can also get a little bit of crypto related exposure here.

17:08.250 --> 17:24.495
[SPEAKER_01]: I'm not surprised by this, you know, I think even if you are someone who believes maybe hyperliquid has some more downside, I think we can all kind of look at it and be wildly impressed with what they've been able to achieve, and this, I would agree with you, Tivo, I would look at this and not saying, oh, this is a quick little day trade.

17:24.515 --> 17:27.376
[SPEAKER_01]: They're going to be in and out of this thing here in the next day or a week.

17:27.756 --> 17:32.378
[SPEAKER_01]: I think they're looking at this and saying, hey, it's okay if it goes a little bit lower, it's okay if it goes higher immediately.

17:33.738 --> 17:58.120
[SPEAKER_01]: it would look as if this is more of a long-term play for them saying hey we want to get some exposure to this we'll kind of play it through for a while and I would largely agree with that that does hype have more upside in the long-term I think so I think you can look at their stats and be pretty freaking impressed what happens in the short-term here a little bit more up in the year but yeah overall I would agree you know I like hyper liquid for the long-term and

17:59.301 --> 18:07.188
[SPEAKER_01]: The only thing that catches me off here is then going through a dat, as opposed to maybe an ETF of hyper-liquid itself.

18:08.749 --> 18:15.755
[SPEAKER_03]: Fair, fair point, Hunter, excited for the family office of Stanley Drunken Miller to getting into hype here.

18:17.070 --> 18:19.071
[SPEAKER_02]: Yeah, I mean, I love family offices.

18:19.792 --> 18:25.635
[SPEAKER_02]: They seem like an awesome place to work at and keeping that money in the family is pretty high if I do like that.

18:26.096 --> 18:39.044
[SPEAKER_02]: But I think something also is interesting is because a lot of these family offices invest through warrants and even they also are part of like, you know, private equity sales or initial coin offerings, but in the equity world.

18:39.084 --> 18:41.985
[SPEAKER_02]: And so I'm sure that they were looking at high and seeing all these people,

18:42.946 --> 18:48.872
[SPEAKER_02]: trade the pre- IPO hype all the time, and then they're like, oh, that's an interesting kind of modality.

18:48.912 --> 18:58.382
[SPEAKER_02]: We can't do that through our natural channels in investing, not that they are going to be able to do that by just buying per.

18:58.462 --> 19:01.005
[SPEAKER_02]: But I'm sure that that was of some interest.

19:01.365 --> 19:03.347
[SPEAKER_02]: I would like to see if they do get involved with

19:04.503 --> 19:14.233
[SPEAKER_02]: You know, more like Robin Hood and maybe some of like the lighter thesis, just because the only thing we've talked about with hyper liquid is if it's going to get a U.S. jurisdiction like bid.

19:14.933 --> 19:21.180
[SPEAKER_02]: That is I think maybe one of the issues regarding high going forward is if hyper liquid would be, you know,

19:21.860 --> 19:49.428
[SPEAKER_02]: You know, we'll perhaps be allowed to trade through hyper-liquid like the US jurisdiction open up because it seems like there's some sort of regulatory arbitrage happening by the scenes between some of the exchanges and I that's the only problem I would have with, you know, a purchase like this regarding hyper-liquid, but I think, you know, if you're allocating there, you know, a certain percentage, it's part of their portfolio management model, it's a diversified bet and it seems like it boads well for hyper-liquid

19:51.061 --> 19:51.562
[SPEAKER_02]: still fam.

19:52.603 --> 20:04.877
[SPEAKER_03]: Yeah hype on hype on hype here for sure it feels like um these type of purchases and this type of noise really kind of solidifies that hey crypto is not going away and there's been a lot of uh

20:05.932 --> 20:17.620
[SPEAKER_03]: I don't know if discomfort's the right word, but just like disappointment of the clarity act, you know, this year thought it was going through, everybody had their eyes before the break here in August, and it didn't get through the government.

20:18.240 --> 20:25.485
[SPEAKER_03]: But now as we've been saying on this program, with the interviews that we put out with Bryce from the out east conferences, now the narrative is

20:25.985 --> 20:35.516
[SPEAKER_03]: Yeah, we don't need the Clarity Act removing forward and Treasury Secretary Bessant says that the Treasury's moving quickly to implement the genius act.

20:35.616 --> 20:42.785
[SPEAKER_03]: Obviously it got voted in, but then it takes time for for this to go through and get implemented and that's part of.

20:43.265 --> 21:07.896
[SPEAKER_03]: what the interview that we we we published I guess it's almost three weeks ago now with the former CFTC chairman is that hey there's there's things that can be done to integrate these crypto rails into the finance system and Chris Perkins who has also been on the show many times and we saw and talked to him out the outies conference as well as it's kind of saying the same thing hey the current chairman the SEC were working towards implementing this stuff so

21:10.517 --> 21:34.473
[SPEAKER_03]: And then you have things like are you said you're seeing a lot of clarity act talk Brendan as well Something that we'll cover later this week with Brian we got our eyes on this meeting for Wednesday Based around let's see crypto Coinbase A16Z Gemini Robinhood Some tradvise gonna be there and then I think some some prediction market people are gonna be there as well

21:34.993 --> 21:43.736
[SPEAKER_03]: And then what we'll do to tee up the segment is we're going to watch a clip of the city bank CEO talking about the Clarity act as well.

21:43.776 --> 21:45.137
[SPEAKER_03]: How they wanted it to go first.

21:45.177 --> 21:50.438
[SPEAKER_03]: Even though this thing feels like it's quote, unquote dead on arrival as they say are not even getting the vote.

21:50.879 --> 21:54.520
[SPEAKER_03]: There's it's still that it's still a huge talking topic of talking points.

21:54.540 --> 21:57.741
[SPEAKER_03]: So let's listen to the city CEO and then we can break it down fellows.

21:58.001 --> 21:59.822
[SPEAKER_00]: digital assets, many of us are.

22:00.162 --> 22:12.568
[SPEAKER_00]: It's got some fantastic technology and we want to have good regulation that supports innovation and also encourages a safer adoption of the capabilities of digital assets.

22:14.690 --> 22:22.819
[SPEAKER_00]: I, we're certainly not given up on trying to get some more improvements to the act, because let's look at the US financial system.

22:23.559 --> 22:29.786
[SPEAKER_00]: Smaller banks play a very important role in the rural communities and throughout America.

22:30.326 --> 22:33.290
[SPEAKER_00]: And if you're having a reward system on the deposit,

22:33.810 --> 22:42.558
[SPEAKER_00]: it could have a detrimental impact on their deposits and therefore their ability to provide lending and access to credit.

22:42.578 --> 22:48.143
[SPEAKER_00]: The impacts of the U.S. that don't crypto won't reach and frankly, the large banks don't reach.

22:48.543 --> 22:51.145
[SPEAKER_00]: So I'm worried about it from that perspective.

22:51.926 --> 23:13.552
[SPEAKER_00]: I also want to make sure that you've got fair competition, a level playing field, so the same activity gets the same legislation and regulatory rules, and no one wants to see financial crimes being promoted, frauds already being a problem of late individual system, and this could promote it even further if you don't have good legislation.

23:14.415 --> 23:25.943
[SPEAKER_03]: So again, just the talking point of, hey, the CEO of City wants to work constructively to get the guardrails to push this through, and we got the meeting on Wednesday.

23:26.003 --> 23:28.524
[SPEAKER_03]: So all that in, Brandon, where are we with this?

23:29.005 --> 23:35.349
[SPEAKER_03]: The polymarket odds, you know, for the whole year have been from 35 to 70% about in the range.

23:35.369 --> 23:39.631
[SPEAKER_03]: And now they've plummeted down to Brian, I checked last week, it was like 10%, 10%.

23:40.092 --> 23:41.793
[SPEAKER_03]: So what's our take on this?

23:43.169 --> 23:53.034
[SPEAKER_01]: Yeah, the take here is that if this didn't get passed before the recess in Congress, then the odds and likelihood of a tank.

23:53.074 --> 23:54.295
[SPEAKER_01]: And we saw that happen.

23:54.415 --> 23:55.815
[SPEAKER_01]: We saw exactly that happen.

23:56.215 --> 23:57.216
[SPEAKER_01]: It didn't get passed.

23:57.236 --> 23:58.517
[SPEAKER_01]: There's lots of talk of it.

23:58.717 --> 24:00.378
[SPEAKER_01]: But there's been lots of talk, right?

24:01.578 --> 24:10.687
[SPEAKER_01]: One of the things that we talked about over here, maybe it was back internally, kind of behind the scenes, it's just this idea that there's been lots of conversation of, oh, it's going to happen.

24:10.707 --> 24:11.628
[SPEAKER_01]: We're going to stay through the weekend.

24:11.648 --> 24:12.388
[SPEAKER_01]: We're going to get this done.

24:12.468 --> 24:15.852
[SPEAKER_01]: And you've heard a lot of that only for it to not come forth.

24:16.232 --> 24:21.957
[SPEAKER_01]: I think now there's mounting pressure to really get this done before midterms, right?

24:22.017 --> 24:23.339
[SPEAKER_01]: Because I don't think

24:23.919 --> 24:25.540
[SPEAKER_01]: a lot of people are happy.

24:26.001 --> 24:34.567
[SPEAKER_01]: There were, I would say, you know, we talked about this table and the rundowns about two years ago, about how crypto was a real campaign point for a lot of people.

24:35.167 --> 24:39.911
[SPEAKER_01]: A lot of people voted based on crypto, and if you don't believe it, go back and watch those episodes.

24:39.951 --> 24:42.893
[SPEAKER_01]: It was a really big campaign point in the last election.

24:42.913 --> 24:47.636
[SPEAKER_01]: I think now what you're going to get is you're going to have a lot of people who are probably upset.

24:47.716 --> 24:52.160
[SPEAKER_01]: If that was such a major campaign point last time, I think this time, you're going to be looking at it.

24:52.800 --> 25:07.873
[SPEAKER_01]: And you're going to have a lot of those people that probably are more middle of the line again not super far left not super far right I think there's going to be a lot of people that are more central and that are hurting from this and didn't see this legislation that legislation you know kind of go through and I think that that's going to be.

25:08.153 --> 25:09.613
[SPEAKER_01]: potentially a tipping point for them.

25:09.633 --> 25:15.855
[SPEAKER_01]: So again, I think that there's mounting pressure to get this done, and you can see, again, at least I've noticed it over here.

25:15.875 --> 25:16.875
[SPEAKER_01]: I'm sure a lot of us have.

25:17.135 --> 25:26.917
[SPEAKER_01]: There's been a lot of talk lately about getting this thing done, and executives like this are being brought in, and they're setting up these white house meetings about crypto.

25:27.317 --> 25:29.858
[SPEAKER_01]: You're seeing a lot more chatter about this.

25:30.518 --> 25:49.967
[SPEAKER_01]: Then I think we saw in the first half of this year, and again, I think that that's largely due to mounting pressure as we enter towards midterms, and there's going to be a really small window to get the crypto market kind of back on its feet, back into a bull market, and get something like this past, which could be the catalyst to maybe propel us back into a bull market.

25:50.348 --> 25:52.729
[SPEAKER_01]: But I think that there's a very small window to get that done.

25:52.829 --> 25:54.690
[SPEAKER_01]: So there's a lot of chatter behind the scenes.

25:54.970 --> 25:56.391
[SPEAKER_01]: There's a lot of talk stuff here.

25:56.791 --> 25:58.692
[SPEAKER_01]: Again, really nothing can happen until

25:59.352 --> 26:01.114
[SPEAKER_01]: probably almost some time in September.

26:01.274 --> 26:06.019
[SPEAKER_01]: I would imagine at the very earliest, but then again, you're entering into a pretty small time window.

26:06.479 --> 26:09.922
[SPEAKER_01]: So the big takeaway is that I think that there is mounting pressure.

26:10.003 --> 26:12.945
[SPEAKER_01]: I think that there is a, you know, clearly a lot going on here.

26:13.426 --> 26:16.949
[SPEAKER_01]: And you can see that there is a lot more intentionality about.

26:17.762 --> 26:23.486
[SPEAKER_01]: You know, really helping the crypto space, at least more than we saw in the first half this year.

26:23.566 --> 26:25.868
[SPEAKER_01]: So, fingers crossed, that means something.

26:26.268 --> 26:29.230
[SPEAKER_01]: Fingers crossed, we can see this get done.

26:30.351 --> 26:33.333
[SPEAKER_01]: If you remember earlier in the year, you would see Jamie Diamond.

26:34.214 --> 26:40.918
[SPEAKER_01]: Come on, and basically said, hey, where we're not worried for where I'm paraphrasing here, but basically saying we're going to die on this hill of getting it our way.

26:41.018 --> 26:50.403
[SPEAKER_01]: And you saw most of the other financial space, not really agreeing with that level of extremism, kind of saying, hey, let's go back and forth.

26:50.983 --> 26:54.645
[SPEAKER_01]: I think you have coined based on one side of the extreme, and you might have JP Morgan on the other.

26:55.005 --> 26:58.287
[SPEAKER_01]: But I think now you are really starting to see both sides.

26:58.947 --> 27:03.334
[SPEAKER_01]: Um, dare I say capitulate a little bit, come towards the middle and say, let's just get this thing through.

27:03.374 --> 27:06.960
[SPEAKER_01]: We know it's going to be in that positive and so we'll see.

27:07.060 --> 27:12.268
[SPEAKER_01]: But there definitely is a lot more attention being directed towards this and I hope that that means something.

27:14.381 --> 27:27.350
[SPEAKER_03]: It's a great point of action is needed, I think, because the, like you said, the crypto community was a big cohort for the, for the last election cycle, and I think it will begin for this election cycle.

27:27.390 --> 27:37.517
[SPEAKER_03]: It's only gaining more, it's a different type of momentum, but it's gaining more momentum, especially as this industry matures and kind of folds in with the traditional financial markets as well.

27:37.997 --> 27:55.369
[SPEAKER_03]: But I think if you're core individual crypto person that's looking on where and how they want to vote, the talk's not going to work anymore, because that's what we've covered the first year and a half of this administration is like, a lot of things said, couple things delivered and some of them in more unique ways and others.

27:56.150 --> 28:01.734
[SPEAKER_03]: And I just think like the jaw-boning isn't going to move people to vote.

28:01.774 --> 28:04.276
[SPEAKER_03]: It's the action that's going to be taken from now until November.

28:04.976 --> 28:10.241
[SPEAKER_03]: Um, and so that'll be interesting to see what gets done, but Hunter, how are you looking at this any any part of it?

28:10.541 --> 28:12.183
[SPEAKER_03]: Um, give us your, give us your take.

28:14.040 --> 28:22.349
[SPEAKER_02]: Yeah, I mean, I know that this pattern, they file a closure so that we are going to get something here in the middle of September, once they, the day after they come back from Congress.

28:22.389 --> 28:24.631
[SPEAKER_02]: So we will have some update there.

28:24.752 --> 28:30.157
[SPEAKER_02]: I think with all of this, the main thing is just, you know, investors want certainty.

28:30.458 --> 28:35.803
[SPEAKER_02]: We just want specific dates, because once you can kind of have dates, you can put those compliance.

28:36.544 --> 28:39.728
[SPEAKER_02]: stuck into your models and investors can trade around that.

28:39.788 --> 28:47.698
[SPEAKER_02]: But with whatever thing is just up in the air, I think this is always going to get pushed down into into the legal framework of our society.

28:48.058 --> 28:50.841
[SPEAKER_02]: It's just a matter of when are those specific dates going to happen.

28:51.883 --> 28:55.387
[SPEAKER_03]: So investors can at least anticipated accordingly.

28:57.291 --> 28:57.511
[SPEAKER_03]: Yeah.

28:57.531 --> 29:06.734
[SPEAKER_03]: And then again, just as we're on the program here, I'm still seeing just as we've talked about this just fired off literally as 30 seconds ago.

29:06.754 --> 29:11.216
[SPEAKER_03]: It's like SEC officially proposes new rules to create clear regulatory framework for crypto.

29:11.696 --> 29:23.100
[SPEAKER_03]: So it goes back to that thesis of, you know, the clarity acts something that I think the industry really wants, but with the SEC chair and the current CFTC and the leadership that they're going to push through and they have the powered

29:25.201 --> 29:31.144
[SPEAKER_03]: if it gets implemented in the right way over the next couple years, it's going to be too far along to get unwounds.

29:31.204 --> 29:35.986
[SPEAKER_03]: So, you know, the Clarity Act may be or may be not being dead.

29:36.026 --> 29:40.608
[SPEAKER_03]: I don't think Rex the industry, like some people were maybe discussing months ago.

29:40.628 --> 29:41.328
[SPEAKER_03]: I think, you know,

29:41.948 --> 29:57.461
[SPEAKER_03]: Cooler heads will prevail prevail there and why why wouldn't it because Crypto's leading the way right the Nasdaq officially begins talks with regulators to it to enable 24 hour yeah 24 hour stock trading.

29:57.641 --> 29:59.563
[SPEAKER_03]: I've seen this get talked about.

29:59.623 --> 30:01.664
[SPEAKER_03]: I've seen something more specific on

30:02.545 --> 30:10.172
[SPEAKER_03]: something getting pushed through sooner before the 24 hour might be like a 9 p.m. to 5 a.m. session or something.

30:11.673 --> 30:12.974
[SPEAKER_03]: You know, we we like to trade.

30:12.994 --> 30:16.237
[SPEAKER_03]: We were all about, you know, crypto on 24 7365.

30:16.757 --> 30:18.359
[SPEAKER_03]: So what what are your thoughts here?

30:18.379 --> 30:22.142
[SPEAKER_03]: We kind of always said Brendan it was it was inevitable eventually this is going to happen.

30:22.482 --> 30:34.626
[SPEAKER_03]: Whether it's for the better for the worse, honestly, because I think there's a lot of people that might not be able to handle this, especially when there's volatility as they're trying to watch their Netflix and chill, but it's going to happen.

30:36.907 --> 30:38.587
[SPEAKER_01]: It's an inevitability for sure.

30:39.147 --> 30:40.748
[SPEAKER_01]: We've talked about this for forever.

30:41.514 --> 30:42.435
[SPEAKER_01]: it just makes sense.

30:42.515 --> 30:46.417
[SPEAKER_01]: There's no reason that with the current tech stack that we don't have something like this.

30:47.277 --> 30:47.857
[SPEAKER_01]: What does that mean?

30:47.877 --> 30:51.980
[SPEAKER_01]: It means more trading for them, more trading means more fees, if they're making more money.

30:53.020 --> 30:57.342
[SPEAKER_01]: I think that's a good thing and it allows people to trade at all times of the day.

30:57.382 --> 31:05.447
[SPEAKER_01]: So I think that they benefit because they're probably going to be getting more volume, probably more trades, and also it allows us as investors to be able to

31:08.168 --> 31:24.118
[SPEAKER_01]: and i think that that's also a really good thing so i'll i think we continue to move in this direction i would be shocked that you know if in several years we can't trade twenty four seven and maybe it's never fully twenty four seven across the board because it would be hard to operate wall street on that

31:25.143 --> 31:29.766
[SPEAKER_01]: basis, you know, they already work crazy hours on Wall Street and a lot of these banks.

31:30.206 --> 31:35.369
[SPEAKER_01]: You'd have to really adjust the business model to have people in the office at all points of every single day.

31:36.290 --> 31:40.512
[SPEAKER_01]: But I do think that as retail investors, we should get more access to this.

31:40.552 --> 31:42.413
[SPEAKER_01]: And I say that like everyone would get access to this.

31:42.713 --> 31:47.316
[SPEAKER_01]: But I think that there will be like slight limitations on like what does 24-7 trading mean?

31:47.676 --> 31:49.297
[SPEAKER_01]: Or what does 24-5 trading mean?

31:50.018 --> 31:51.238
[SPEAKER_01]: I think we'll learn more about that.

31:51.258 --> 31:53.780
[SPEAKER_01]: But yeah, I see trading hours being expanded regardless.

31:55.184 --> 32:04.120
[SPEAKER_03]: Yeah, if you're a, you know, finance person that's been in the industry for 10, 20, 30 years, you know, your punch and air, it's seeing this stuff starting to come out.

32:04.240 --> 32:06.464
[SPEAKER_03]: You do not want to deal with this.

32:07.553 --> 32:15.435
[SPEAKER_01]: I would think in the same thing, like for people who don't know Wall Street is like notorious for working like insane hours, right?

32:15.515 --> 32:25.078
[SPEAKER_01]: It's like you'll have like a 16 hour to earn 18 hour day and you go home, you get a few hours of sleep and then you go right back to it and that's like the typical Wall Street.

32:25.858 --> 32:37.606
[SPEAKER_01]: Schedule a lot of the time and then they're looking at this now and it's like well at least the weekends are like the one Bit of rest that you do get and then now you're looking at this thinking there's not going to be any Off-hours.

32:37.626 --> 32:39.307
[SPEAKER_01]: There's not going to be any time to catch up.

32:39.587 --> 32:44.230
[SPEAKER_01]: There's going to be less time for sleep less weekends So yeah, I think you're right.

32:44.250 --> 32:47.012
[SPEAKER_01]: You probably are punching here, but us in the crypto space.

32:47.052 --> 32:51.975
[SPEAKER_01]: We're used to this Maybe we're numb to it We're used to the markets trading 24-7 is it's what we

32:53.716 --> 32:58.330
[SPEAKER_01]: are a part of here and we have been for a while, so maybe we're the best positioned.

32:59.092 --> 33:01.254
[SPEAKER_01]: and in terms of a mental state going into this.

33:02.675 --> 33:23.514
[SPEAKER_03]: You had reminds me of the uh... what was it the uh... dark uh... one of the dark nights it was you know you you've trained in the dark i was born in it for that man to be a hundred you can be staying up all night trading the nazzak oh you you know it not that i already don't but uh... you know i'll definitely be up on it

33:25.300 --> 33:46.450
[SPEAKER_02]: Yeah, you know, it's funny, money never sleeps, so that's Wall Street, but I guess the exchanges were sleeping for a little bit, but now they've had a little bit of the proof of concept by seeing stuff like on hyper liquid or these other kind of tokenized stock platforms where you can trade perps through the night or through the weekends, you can trade, you know, oil through the weekend.

33:46.470 --> 33:53.374
[SPEAKER_02]: And so that's been really helpful, especially during this geopolitical, you know, conflict is because you can actually see what the market is

33:54.895 --> 34:12.699
[SPEAKER_02]: You know, trying to see how they might open on a Monday and it's actually been pretty predictive so I think they see that and I guess you know you wonder if it'll make the market more efficient it probably will because I think you know the longer there is information and you're trading on at the more efficient it becomes and now that's the only thing is is that going to be an issue for.

34:14.225 --> 34:18.488
[SPEAKER_02]: for the big banks or hedge funds that are making these decisions off in efficiencies.

34:19.189 --> 34:34.220
[SPEAKER_02]: Maybe then that could maybe be one, I guess, reason to not push it from there in, but other than that, I think the fees alone for exchanges, there's, I think it's a non, you know, there's no reason to deny it, it has to be that way.

34:35.331 --> 34:49.260
[SPEAKER_03]: Yeah, like we said, it's coming, and we'll leave you with the correct part of the, uh, of, of, of, of, well, is it, here we go, believe you with the correct, uh, meme here was, uh, I'll give you all even give you a vein impression fellas for a little Tuesday.

34:49.420 --> 34:51.181
[SPEAKER_02]: You barely, uh, thought, but they're dark.

34:51.941 --> 34:52.942
[SPEAKER_02]: I was born in it.

34:53.522 --> 34:54.383
[SPEAKER_03]: So that's what's happening.

34:54.803 --> 35:04.072
[SPEAKER_03]: Traditional finance is going to meet the crypto bros in the 24th seven trading and the old heads are going to not be happy about having to figure out how to adjust their teams.

35:04.532 --> 35:05.853
[SPEAKER_03]: But that's going to do it for today.

35:05.873 --> 35:07.835
[SPEAKER_03]: I really appreciate everybody tuning in.

35:08.516 --> 35:09.337
[SPEAKER_03]: Solid live here.

35:09.377 --> 35:10.598
[SPEAKER_03]: We got Jesus saves.

35:10.638 --> 35:11.338
[SPEAKER_03]: What's up, brother?

35:11.398 --> 35:12.259
[SPEAKER_03]: Michael's here.

35:12.820 --> 35:13.681
[SPEAKER_03]: D. P. Six.

35:13.721 --> 35:14.481
[SPEAKER_03]: Four's here.

35:14.601 --> 35:15.182
[SPEAKER_03]: PR.

35:15.222 --> 35:19.326
[SPEAKER_03]: We're ready for the Bullstand P. The Clarity Act will not pass, but we don't need it.

35:20.226 --> 35:33.396
[SPEAKER_03]: Somebody's shouting out Robin Hood and the bear only last one year were ready for the bull really appreciate everybody tuning in for the live one last call Give it a like if you're new here on the bottom right hit some hit our logo and subscribe Thanks everybody for tuning in That's all for now.

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[SPEAKER_03]: We'll see you later.

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[SPEAKER_03]: Last later this week.

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[SPEAKER_03]: Bye everybody

