The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin - The Trump Crypto Scam | The Canadian Bitcoiners Podcast

Episode Date: June 16, 2026

Trump family made $2.3 BILLION in crypto profits while everyday investors lost nearly the SAME amount — Reuters EXPOSED the $TRUMP coin, World Liberty Financial & American Bitcoin playbook. Plus Bitcoin's worst week since FTX, Canada's $100M to Palestine & more.A bombshell Reuters investigation found the Trump family pocketed at least $2.3B across four crypto ventures — World Liberty Financial, the $TRUMP meme coin, ALT5 Sigma, and American Bitcoin — while buyers lost roughly the same, with the family risking virtually none of its own capital. We break it all down, then run the worst week in Bitcoin since the FTX collapse, a $20M token exploit, a 20-year U.S. BTC sell-ban bill, Monaco's 0% crypto tax, and a packed Notable North on Carney's Canada.In this episode of the Canadian Bitcoiners Podcast:🚨 Reuters EXPOSED — Trump family +$2.3B vs investor losses of ~$2.3B: World Liberty Financial (+$1.1B / -$674M), $TRUMP (+$616M / -$711M), ALT5 Sigma (+$538M / -$675M), American Bitcoin (+$19M / -$216M)📉 You just survived the worst week in Bitcoin since the FTX crash — nobody said hodling was easy💸 The Humanity ($H) token exploit: an attacker drains $20M+ and the price dumps 87%🏛️ American Reserve Modernization Act of 2026 (H.R. 8957) — a 20-year ban on selling acquired BTC + quarterly, publicly audited proof-of-reserve⚰️ Bitcoin L2 Botanix shuts down after 4 years — the Bitcoin-native DeFi demand problem🚔 A 19-year-old Canadian pleads guilty to laundering $13M in stolen crypto (Lambos, private jets, Miami nightlife)🏢 Nakamoto sells 600 BTC to cut debt and launches a $25M buyback🔐 Blockstream's SHRINCS brings post-quantum, quantum-resistant signatures to Bitcoin — plus Jameson Lopp & ChainQuery on quantum-vulnerable UTXOs🐞 Bitcoin Core privacy bug in -privatebroadcast (v31.0) can leak your IP — fix coming in 31.1🌬️ The air purifier that secretly mines Bitcoin🇲🇨 Monaco announces 0% capital gains tax on Bitcoin & crypto🍁 Notable North — Canada pledges $100M to Palestine (announced from Paris), the Gordie Howe Bridge debacle, and Toronto's mayor says the Somali FIFA referee the U.S. ruled inadmissible is welcome in the city📊 Plus the "88,000 new jobs" that were mostly temporary census + FIFA/seasonal workers, 1 in 4 Toronto kids living in poverty, and seniors as Canada's fastest-growing homeless populationThe Trump crypto saga is the clearest case yet for the only money no insider can print, dilute, or rug-pull: Bitcoin. Self-custody, verify, and keep stacking sats.Sources: Reuters, Coin Bureau, CoinMarketCap, Bitcoin News, Blockstream, Bitcoin Core, Specter Analyst—————————————————————🎙️ Canadian Bitcoiners Podcast🌐 https://canadianbitcoiners.com🔔 Subscribe & turn on notifications so you never miss an episode.SPONSORS🔒 easyDNS — Canadian-owned, ICANN-accredited registrar that has accepted Bitcoin since 2013. Domains, DNS, email, hosting, all without selling you out. Use promo code CBP Media for 50% off your first purchase, no limits.→ https://easydns.com⚡ Bull Bitcoin — Canada's non-custodial, Bitcoin-only exchange. Founded 2013 in Montreal. They never hold your keys; you self-custody from day one. CBP listeners get 25% off fees for life.→ https://app.bullbitcoin.com/registration/cbp🔥 256 Heat — Hashrate heaters: Bitcoin miners purpose-built to heat a space. Every watt of electricity becomes heat AND hashrate, so you're warming your space and stacking sats at the same time. Custom solutions available. Tell them CBP sent you for a discount.→ https://256heat.com🎓 Bitcoin Mentor — One-on-one coaching to take you from "I bought some Bitcoin" to true self-sovereign ownership. Wallets, keys, collaborative custody, inheritance planning, node setup, the whole stack. 30-day money-back guarantee on every package.→ https://btcmentor.io/aff/joey————————————————————————————————🎙️ CBP — https://x.com/CanadianBTCPod👤 Joey — https://x.com/joeytweeets👤 Len — https://x.com/thebtcpricebot

This thing on. Friends and enemies, welcome to the CBP, where tonight we are talking about the latest in Trump, crypto scamming, digital IDs in the UK and a bunch of other ways that society is shooting itself in the foot while Bitcoiners rise above. There's no doubt about it. Vives are high in the Bitcoin space. First, though, the intro. And so, you know, the government can say whatever they want about this thing not competing. It's for black market only. It's for this for that. But they're really treating it like a threat. And one of the things that can't be attacked is your self-custody Bitcoin. And one of the things that can be attacked is the ETF.

You can't be exposed to that. That's my view. It's not a good idea. And by the way, that'll hit MSTR too. It'll probably hit other stuff as well. Friends and enemies. Welcome back. Canadian Bitcoiners podcast.

Friends and enemies, welcome to the CBP. Want to be better informed. Listen to Levin Joe E. Spots is taking care off right off the top. Oh, Bitcoin and Easy DNS. The media is feeding the slop. Buddy, how you doing? Good to see you.

How are things? over there in your neck of the woods? Very good. Great. Glad to hear that. How about you? I'm riding high. I'm absolutely zipped on caffeine. My stomach is responding, as you might expect. We just finished Bitcast. We got a lot of talking about tonight.

Yeah, man, I just got back a little while ago. We were breaking the hood off of a school bus downtown. Yeah, they deserved it. Those school buses, what are the Indiana Pacer fans? I don't know. I think you just wanted to say Indian. What did the next play? It was it? They played the,

San Antonio Spurs, buddy. Ah, yes. The Spurs, Wemagnama, the Earthling after that series. Anyway, we'll get to all that and more tonight. The sponsors first, easy DNS, the best place for you to buy, sell, host, a domain. Mark is your friendly neighborhood domain registrar. And so much more. Claudebot on Easy VPS if you want.

Use our promo code CBP Media. Get a month for free. If that's not your thing, you could also get anything you want from Mark in terms of hosting and DNS services, virtual private server stuff. also 50% off for your first cart. Load it up. No limits, okay?

Like poker in Vegas. Make some bad decisions at the table and get half off your total. EZNS.com. Don't forget ready. Dotta. If you haven't signed up already, go there as well. Things are going to get weird in Canada.

We may as well ride it out together. Who's the second sponsor? Well, it's bull Bitcoin and that's where things are not weird because you know what you're going to get with bull Bitcoin that is a non-custodial exchange that won't fuck around with your Bitcoin. You want a non-custodial.

still do exchange because, of course, we've talked about many times how you could get rugged in the process when trying to buy and let somebody hold on to your Bitcoin. Well, Bitcoin doesn't do that. In order to facilitate a buy, you have to provide an address, a Bitcoin address. And that's the way you could do it. Of course, take your Bitcoin and give you a fiat if you want to start selling your Bitcoin, but why do that? It's a stacking time, not selling time.

You could do reoccurring buys. You could do auto buys limit orders. A lot of people have been hitting their orders because the price went down not so long ago. And now we're going up. So hopefully people stacked on the dip. In bull Bitcoin, you could pay your bills with Bull Bitcoin. Lots of different things over there. They are expanding throughout the globe and who knows, maybe beyond the Earth boundaries.

Check them out if you haven't yet. Open an account. Use our referral code below to open it up. And by doing so, all your buys and sales will be cheaper forever. Bull Bitcoin is the best. I haven't watched Francis's Prague keynote yet, but I plan on watching it. I confess to having watched Sailors just for the content farm that he is. but I haven't watched Francis yet.

No, I think he's finally realizing that this comm strategy is not working. People are tired of analogies and pictures of, I don't know, AI generated real estate and shit like that. So whatever. It's a digital yield, man.

He's calling it Bitcoin Capital now. So I don't know. If you ever want to look at a 10 by 10 chart about all the ways you could buy Bitcoin without buying Bitcoin, boy, does he have a treat for you? in that presentation. Anyway.

11.15% they should have made it 11.5% by 11.5. They would have been more in line with what he has to offer. And then obviously adjust as to the yields change. Who is? I don't want to get it to that. Let's do the boost. Who are we getting boosted by today?

Three boosts this week. We got number one, Dallas Smith, 404, 404s, sorry, 4404 boots, 404 SATs. And he writes in, we lost the AI game with energy costs alone. If Canada encouraged energy companies to build out and produce, Canada would have tons of flare gas and other cheap surplus sources to run tons of data centers.

Instead, we put an industrial carbon tax on our energy companies and regulate them to death. And that was a comment from our discussion last week. And it's all theoretical. The Canada does have the capacity to build out. They just need, there's got to be some incentive in order to let businesses do that. And as Dallas pointed out, it's hard to do it given the current environment. I'm not sure if you want to add anything to that.

No, I'm talking to guys in the chat here about the vertical versus horizontal thing. I don't know if this actually worked. The stream yard like ads features that nobody asked for, but whatever, that's the story from the time. On the energy side, let me just note that there's been a recent data center announced and approved in the U.S. I think I can't remember where, but that company, I think it was Amazon. They have to build their own power generation. Yeah, it's going to be the White House lawn from one of understand. World Liberty Fire is helping. That's right. It's good. The new, the new feature there is going to be Lance Armstrong, lit on PEDs, powering your latest AI

queries. Not, not anything too serious, though. Don't search anything too serious. You'll be downgraded. Who else we got? William the French 500 SATs. And he writes in, he sends a link, by the way, and I didn't quite look at this until very late in the game, so I didn't quite read it. He said, would you give this economic model for a small UBI for all the citizens a read, please? It is not an income replacement, rather an enhancement for all. Something to smooth over the transition AI is going to cause. Your critical I would be welcome. Cheers, WTF.

I'm going to share that link in the chat for everybody who wants to check it. So that's from William the French. My apologies for not checking it out because I looked at these boosts just moments before we went live, and I had not had a chance to read it, but I'll do so after the show is done. Last, but not least, Joey, your buddy, Hammertown OG. I think he's everybody's buddy, but he's going to put him in your camp

because it's a Hammertown OG guy. 2,500 sets. Oh, man, keep tossing the salad and stoking the fires, guys. More people need to speak up about what is weakening the country, tossing that salad. Hey, we're doing our best, man. We're doing our best. Any thoughts of resurrecting the weekly sip and rip commentaries?

I have been thinking a lot about ways to increase, you know, Lenz busy. He's doing other stuff that I'm not necessarily doing. So I do kind of want to increase my presence on this channel somehow. And I'm torn between doing like a Saturday afternoon stream and a Sunday afternoon stream. Sorry, milk, milk's getting stuck there. If there's a Friday evening thing, I'm probably. Friday's hard for me because that's usually like the only time I have to do like social stuff, right? Like my daughter goes to sleep at about seven.

My wife and I, you know, like most new parents, try and try and link up at least a few times a week. And I would like to do it when she's napping if I could. But my Friday evenings are the best because I come home from golf. Yeah. You know, I take a quick nap and then I'm just came for the rest of the day. Nice, nice. Yeah, I don't know. I got to think about something.

I got to think about something. I like the idea of like having a number of links like I did on Sip. and rip and just going through them and talking a bit of shit about what's going on in the world that might not necessarily fit into a CBP episode or even a Bitcast episode, to be honest with you. But anyway, we'll think about it. There's always always possibilities here for more CBP. We'll figure it out. That's it for my stuff.

I have nothing else to add to this part of the show. I got a message from Vince over to Bitcoin Broadcast. His episode with me is going to come out tomorrow, he told me. So look forward to that. I think we're going to do, what is it, the channel collaboration thing that you see on this channel often for BitCast. There's a couple of access to VEVee videos on there. You will see that one on there as well. So look for that.

It was a lot of fun talking to Vince, man. He's a good bit coiner. And I've been listening to that show ever since we set up the interview. It's quite good. I appreciate people who are doing content from Florida. No, no, no. Further back, man, with the name like Vince, where's you from? I don't know.

Good question. He might be Italian. It doesn't look Italian. It doesn't look Italian, though. Okay. Yeah. Who knows? Maybe he's half.

The better half. Who knows? Joey, I'm done. Let's go. Let's hop in. Let's talk about how 45 is better than 47. Hey, we may as well. Why not?

It's a topic we talk about quite often. And it's usually not something we talk in the Bitcoin side of things. But there's been at least Bitcoin adjacent stuff that's going on. Because Reuters reported this past week that there's some, you know, at least they confirm 45 is better than 47. And if you look at the corporate disclosures, which they've done, if you look at blockchains, which they've done, if you also look at regulatory filings, which they've done,

it seems like the Trump family, Joey. They are making a lot of money on Bitcoin and Chitcoin ventures. And apparently the family generated an estimated $2.3 billion in profit over to pass a little while. And, well, this is all of the expensive retail because they suffered $2.3 billion. $1.3 billion in losses. Is that it? So really, it's just basically money come from retail, money go to Trump team.

That's all it is. And all this is, of course, paper games, because you have to sell. And this is as of last April, things have changed quite a bit since then. So I'd imagine those numbers, at least for the profit side, is going to be significantly less.

But they examine a few things. You know, let's look at the score sheet here. World Liberty Financial. Those guys, they net it. the Trump team at $1 billion. And they raised tons of capital by selling the W-L-F-I governance tokens. These are stuff that out of thin air they created. And the Trump family was entitled to 75% of the total revenue that was generated from that.

Interesting. And worse is that a lot of investors' tokens were, unfortunately, they're locked up, untradable until 2030. That is a very long time. They have no ability to liquidate. They have no ability to do anything except watch the value of their investment go down and down. And also, well, there was some landings,

shenanigans going on and collateral bullshit. And it's all trash. And then there's also, of course, the meme coined the Trump coin. We had the Melania coin. The Trump coin was, good enough to get them around $600 million in revenue.

And they were marketing that with the direct taglines like, get your Trump now. Like, you know what I mean? This is a fucking president in the United States. Pumping and the president of Argentina was doing the same when we made fun of them. I'm not fun of him. Especially his hair. We could do

the same for Trump. Also his hair as well. And Reuters estimates that Trump walked away with roughly half a million of profits through both branding and promotional agreements. That's on top of the $600 million. So that's tons and tons of money.

The price of this down 97% since its peak. That's it. That's not bad for an all coin. Could be worse, you know? Could be like Macca, right? We'll talk about them in a little while. And so blockchain analysis like chain analysis show that a few early large scale traders made a fortune. They were able to pull out as soon as this thing went live.

The hype was real, at least for momentarily. And they made a lot of money. Then there's something called AI Financial Corp, originally Alt 5 Sigma. And I wasn't aware of this until I did some research here. It wasn't, and thanks to Reuters as well. The Trump family made around 500 million from this AI financial corp. This is a NASDAQ listed company, and they pivoted to becoming a quote-unquote crypto acquisition vehicle. These guys, they partnered with World Liberty Five and with a plan to buy $717 million.

of the WLFI tokens. It's all fucking a scam. It's a way to funnel basically half a billion plus directly to the Trump family. Stock price plummeted. It went from $9. Now at least this past weekend was trading around 75 cents. Sorry, as of April, 75 cents. And it was, you know, another one just, you held it.

You got fucked. American Bitcoin. It's another one. $19 million. This is small for them. They made $19 million for the team. This is probably the Tiffany, Trump of the whole venture here, the redheaded stepchild of the company, as good people

have made them fuck all. Another Bitcoin Treasury company and also a Bitcoin mining company. And Donald Trump Jr. and Eric Trump got huge sums of equity with no monetary costs when it got listed on NASDAQ. By the way, Eric Trump, his stake alone valued over $70 million. Yeah. So it's a lot of bullshit.

We had Hutting involved there. There was a partnership with it. It's just an absolute joke. And then on top of that, World Liberty Financial, they were involved with this whole UFC on the White House lawn where apparently there was some funding that was through their stable coin

at the issue, it was given to the winner. And it doesn't make sense to have a sitting president, get involved with shit coin, creating wealth out of nothing, pumping up stuff using federal lands. So you're using up the White House, presidential house, to fucking,

to pump his own company. This is bullshit. If Biden did this, we'd be fucking rattling our sabers and going nuts. This guy's doing it. I don't hear a lot of bullshit. I don't know why. This guy deserves to be criticized very hard because of all the bullshit he's done. Forty-five, I tell you, was way better than 47.

And we still have another two years in change of 47. This is going to be disastrous. Totally agree. But did you catch the fight last night? No, I didn't. I did not. I watched all the fights. fights were great. Love the Americana. Love the, you know, the, the, the spectacle on the White House lawn, fan of that. The Trump coin, World Liberty Coin and the partnerships with some companies that, you know, I think once reputable, it's fair to say about like Hut, for example. Just a complete mess. It's interesting that people are still falling for this dupe from any celebrity, let alone the president of the United States. Now, this guy is no stranger to money-making endeavors that are a little,

less than ethical, right? We're talking about Trump University, the stakes, the shoes, the watches, the phone, I believe. Someone in the chat mentioned in the phone. There's a phone out there as well. And now, uh, yeah, NFTs. That's not his world. Liberty Phi and in Trump coin, Melania coin, whatever. Like these things are not, this ain't new. You know what I mean? He's, he's not breaking any news here, nor is he breaking any new ground in terms of scams. This is the stuff that was big in 21, 22. He's doing it in 26. You know, it's almost retro at this point. As far as scams concerned. The thing that really drives me the most crazy, though, and I know you, you know, I don't necessarily you will not say this because I don't think you feel this way. But the,

the screeching from the left in America about last night and about World Liberty Phi, these people had nothing to say, okay, when the White House lawn was dressed up in rainbows and had a trainee parade, okay, a couple of years ago. That was more embarrassing than whatever last night was. And on top of that, every president finds ways to enrich themselves behind the scenes. At least this guy is up front with the fraud and the scamming. I appreciate that about him. At the very least, he's not very graceful and lacks finesse when it comes to enriching himself in his bloodline.

It's good. I'm glad about that. Then I can see it, plain as day, criticize it on this show and remind people that no politician is your friend, no matter how much you think he's funny on podcasts. Yeah, I have to agree with the last part, because with respect to allegedly Hunter Biden. Hunter, I didn't even think about Hunter, but yeah, you're right. Another total joke. Burisma.

He's an energy expert. What the fuck? He's a crackhead. Allegedly, you know, made a lot of money by his position and through connections with his dad and so forth. So, and that was done behind the scenes. You had to like really dig into find where the money trail is.

And I don't think we truly found out entirely what happened. You're right. This is now more upfront. There's a chance that the Ukraine conflict was to disguise the Burisma thing. This is non-zero. chance. Insane that that's even on the table. This is the world we live in. And you know what? A lot of people go traveling and a lot of people read history and they see the Roman

ruins, how the empire collapsed. And you can understand why it collapsed. And you can debate at length exactly why. But a lot of the nuances, I think there's a lot of agreeance with it. The debasing of the currency we're experiencing today. bread and circuses. We're experiencing this today. The amalgamation of foreign lands to bring them in and then, you know, into the army. So we're seeing that today. You know what you're funny, not to cut you off. On Bitcast today, Odell was on the show with us and he mentioned that he saw a tweet to your point.

You know, isn't it very Roman Empire to have the emperor in his palace watching the best fighters from the different provinces come fight in front of him for the spectacle and the pretty wild. wild comparison it's it's you know i look at it and funny people go travel and all throughout europe even parts of africa and so forth you'll see the ruins of the roman empire and like they look oh look at this is ancient civilization they they were advanced to a degree they fucking collapsed because they made some piss poor decisions once they collapsed it took a thousand years before we finally got back on the right track the renaissance and so far i don't want to get history yeah this is the same bullshit we're going to go through here. There's a motherfucking collapse here.

It's going to take a very long time. Definitely not my lifetime, not my kids, not my kids' kids' lifetime before this shit gets fixed and put back on track. I don't want to see it happen, but I don't have the ability to control what happens throughout the world. I can control just my area. But the way I'm looking at this thing, this thing is setting up for collapse. It's not a matter of if it's a matter of when.

We could debate that. But one of the best things you could do, of course, course is park your money in something like Bitcoin, which you cannot, they cannot lock away. They cannot stop you from getting access to it. And of course, there's only 21 million. There's so many beautiful things though, Bitcoin. We talk about it. I think that's one thing.

We look at the price and we use that as too much of a guiding light. There's more to it than that. We're 66,000. It's a great buying opportunity, NFA. Do what you've got to do because you know what's coming down the pipe. I know what's coming down. You know what's coming down. It's a matter of when.

Signs of collapse have almost never been more. prevalent, right? Whether it's the, you know, the extreme level of bread and circus behavior from governments. But the other thing, too, like, you're looking at the disaster happening in the UK and Canada and Australia, the banning of basically a free speech and anonymity, the run-up in real estate, the rise in poverty, the rise in debt, the rise in what, like, it's everywhere. The signs of the collapse, you know, the impending collapse are everywhere. And people can say whatever they want that, you know, things have been worse. It's not the full picture.

America is the greatest country on earth. All that stuff can be true. I do think America is the greatest country on earth. And actually, I think the gap is growing between America and the other countries. Maybe in no thanks to stuff they're doing in America, but rather stuff that's happening in other places. But the collapse is coming, whether you think it's coming quickly or slowly. And to your point, you can't put this toothpaste back in the tube once it's there. You know, you're talking about scorched earth, napalm, smoldering piles.

of rubble both literally and figuratively before you can build this thing back up into something stronger or something that makes sense. And by the way, even that new stronger system will collapse the same way a thousand years from now. It's a tale as old as time. It's just, it's a cyclical thing. It just keeps repeating itself. You look at it in Canada, we're talking about in BC people that legally own a home. Do they even legally own that home? You know, like this is something that's just so basic. You know, you work very hard. You pay money into this. You upgrade a property.

You make it beautiful. And now there may be a possibility. It may be given to somebody else because of what. I don't want to get into the specifics of that because I'm going to get a fucking nail to the cross. But you can read between the lines and we'll go from there. We'll talk about, I guess, next up, Nakamoto. Those guys. The weekly Nakamoto segment brought to you by the big conference.

Las Vegas, 27. Come join the, use our promo code going to zero for 10% off your ticket. When there's something that is noteworthy, I'll bring it up. And I think there's something noteworthy here because it is another Bitcoin treasury company that is selling their Bitcoin. They sold 600 Bitcoin is reported this past week. And I love their mentality where they have to buy high and sell low. Like this is just a fantastic way of doing things. They raised 50 million from this sale.

I guess those private jets, they don't fuel up themselves. They got to get something to pay for them. They have right now left around 4,400, a little bit more than 4,400 Bitcoin on the balance sheet. So who knows if that's going to be up for grabs the next little while. So with this $50 million, they use $45 of that million to pay a loan with Cracken. Because DGens, you know, they got wrecked, right? These guys, they played with fire and their investors got burned.

They also pushed out the maturity. This is fucking great stuff. joy they also pushed up the maturity date of a hundred and five million dollars that is now principled out to june 30th 2027 yeah kicking the can down the road they they fucking have this they have to pay the back these these debts there's also there's more there's 60 million that is going to be maturing this december and by agreeing to maintain a minimum baseline of 2000 bitcoin as collateral wallet managed by bitwise they also knock down their loan interest rate to 7.75%. This is screaming like this thing is just... What chance or what choice, I should say, do these companies have but to try and get bailed out by the next bull market? They desperately need it. And they say it's going to get worse here because they have looked into and it looks like they have approved a stock buyback program.

Yeah. And I always thought Bitcoin Treasury companies wanted more Bitcoin on the balance. sheet, but I guess this doesn't apply here. They planned to invest or buy back $25 million in shares by the end of 2026. I talked about they sold some Bitcoin 600 to raise around $50 million and they used already 45 of which to do the loan. So they have $5 million, I guess, for running costs. There's $25 million to use or they have to get for these shares.

Where are going to get that money? It's got to be from selling more Bitcoin. Right? That's the only thing they have. So they're going to sell more Bitcoin on a loss. And good news is David Bailey, the CEO of Nakamoto, he stated that the company stock is, quote, significantly undervalued. Remember that the- You mean in front of the show, David Bailey? Is that who you're talking about?

I'm still waiting for a fucking reply back for my text. Oh, sorry, for my voicemail. It's funny because no company wants to talk to me for whatever reason. If you invest in this at the peak, you're down 99%. that's only one year ago too it's not like it's fucking 10 years ago yeah six years ago it's just 12 months paper bitcoin summer was last year yeah yeah it's it's it's it's unfortunate and you're gonna see this one is going to capitulate because they desperately need the bitcoin price to run up they have to deal with this 60 million in debt that's maturing this year December they want

to buy back 25 million dollars where is this 60 sorry this 85 million dollars going to come from they're going to sell more Bitcoin. It's going to add pressure on the sale price. Okay, five years from now, they have more Bitcoin or less Bitcoin than right now. I think they'll be done. Done. If I have to guess, I think there'll be tits up. Double OB, out of business.

Yeah, I really think so. I mean, don't forget, Bitcoin Magazine plus the conference, plus, you know, out of business, I'm not sure. Jets. And those raise revenue. Well, they have more jets, more jets or less jets? I would say less jets. More Bitcoin or less Bitcoin, I don't know. Equal.

out of jets, less Bitcoin. The company's done. So, yeah, it is what it is. It's just going to be one of many that's going to have capitulated. I forget what we talked about last week, but another one capitulated last week. Sequins or

whatever was maybe a week or two ago. There's been a handful of them. And I think what they're all saying now is while the plan was always to sell Bitcoin when it made sense versus the stock price, you know, and the quote unquote stock price to MNAV, calculation to sell stock, sell Bitcoin, whatever.

The thing is, no one was talking like this at the peak of paper Bitcoin summer. Everyone was thinking this thing was going up forever or strategy was going to a thousand bucks. And now MSTR, even today, right? It's not in the show notes, but they bought another bunch of Bitcoin and they did it with MSTR at the monies. Yeah, they diluted, right? Yeah.

And so if, you know, we just talked about this, Nathan had the chart, the Bitcoin per share has been going down since May. for MSTR. So that Bitcoin per share metric was quote-unquote the most important thing in the world for Sailor and the gang and now they're depleting it. And he's changing the definition of certain things, right? You know, he talks about how Bitcoin per share could mean Bitcoin per share down the road is going to be greater.

Or like he's talking about whether something is dilutive or not. They're also factoring in the cash position of the company. This was not the case. It may have been the case in 500-page legal documents submitted to the SEC. but it was not the case in 50-minute presentations given at every fucking conference that guy could get on stage for two years ago, last year, and even now. So I think that this Bitcoin Treasury companies, you should be looking at the SpaceX model. I got a company that owns Bitcoin on the balance sheet because why not?

And the company has nothing to do with Bitcoin otherwise. That's what you want to see. You don't want to see Bitcoin acquisition vehicles being the flagship faces. the franchise type companies. You don't want to see those guys talking to Joe Kernan on MSNBC or Andrew Ross Sorkan. You don't want to see Saylor on there because those guys don't, they're not, it's not that they're not good business people. They are. But there's questions that the traditional markets want answered, that those guys just can't answer. You know, everyone's seen that clip of this point of Sailor going or the woman on CNBC asking Saylor, you know, if you

have to refinance, what are you going to do? And Saylor goes, all we'll just refinance part of the debt. And she goes, with who? And he just is shell-shocked. Like, he's never been asked that. Fong Lee has never asked him that. His board's never asked him that. Fucking, I don't know, Preston Pish on the earnings call has never asked him that.

Natalie Brunell in the 500 hours of interviews they've done has never asked him that. You see what happens when you ask him a hard question. You get Danny Knowlesed, you know? Like, that's what these guys is what he's all about. He's been about that for a long time. And I just, I don't think. I don't think he ever had any resistance in 2022 when he first started doing, or 2024, I should say two years ago when he started doing at the monies.

No one was talking about this. There was no one pulling up the Bitcoin per share. There was no clawed generated dashboard for how much dilution has been going on for what the, for what the stretch dividend looks like if Bitcoin goes down for whether they're dipping into their cash position. There was none of this stuff. And now the eyes are on him. And it's clear to me anyway.

It might not be clear to everybody, but it's clear to me, he doesn't love it, which is why I said the other day that whether or not you think Sailor is good or was good for Bitcoin overall, I happen to think he was good for it. The question is, is he still the frontman you want? Because he is the de facto frontman. He is not the front man you want anymore. You need someone different in there. I don't know who that person is, but it's time for a change on that front. You mentioned SpaceX and how they have Bitcoin and that's about 18,000, something like that. something like that, either 16 or 18,000, and I 100% agree with you on that's the way you got to do it. Just add it. In an ideal world, I believe SpaceX is in debt for around 400 billion. I could be wrong with the number.

Yeah, they're bleeding money, but whatever. In a perfect world, it would be a company that, instead of using that to put in the bank or buy bonds or shit like that, buy Bitcoin. Like I'm, you know, something like a company like Apple, for instance, where they have a shitload of, you know, their treasuries, or, oh, sorry, their war chest is massive. If they just allocate it a tiny bit towards, that would be wonderful.

They're not going into debt. They're just using something to buy Bitcoin. And I would applaud that. And especially if they were to self-hosted, I truly would appreciate that. Isn't the interesting thing about the two companies that they are actually working with each other on this? Like, like, MSTR wants, they need a SpaceX with Bitcoin on the balance sheet to get S&P inclusion. Because right now, the only reason that MSTR is not. in S&P is because of the Bitcoin thing, right? Like Bitcoin, it's just a treasury asset. The problem

is sailors tied his whole company to this and is going all in. And so the operating software analytics business or whatever it is, excuse me, software analytics business doesn't matter to the S&P board. What they want to see is what are you doing with the Bitcoin, which as we talked about last week or the week before, I think that's why he sold to show that he's willing to sell, to show that he can sell without moving the market. And so if he doesn't move the market, he won't crash his stock price. And if he doesn't crash his stock price, He doesn't bring the index down with it, blah, blah, blah, all these things. Tesla's going to get on.

And if he doesn't have to sell his Bitcoin to get on the S&P, that's a sign. I think people should be paying attention to that more than anything else about these two companies. Remember, he did sell the 32 Bitcoin. You touched upon it. And the price of Bitcoin, the markets reacted to that. Imagine if he sells 33 Bitcoin. Yeah, I don't know. It's like basically you might as well shut the lights.

It's thing is fucking done. Can I have 160 in the balance sheet? I see Greg. I see Greg in the chat saying, okay, Matthew Crowder. Like, I don't, I'm not as extreme as Crater. I don't, you know, wish the Sailor blows up, nor do I, like, you know, look at my phone every 20 minutes to see if Saylor replied to a tweet and then get mad when I don't get SEC guidance level replies on an X post.

Crowder's got to cool it, I think. But he's correct directionally that Sailor now has gone. He's a little bit out to see in a lot of ways. I mean, you know, talking about how he doesn't support the things he retort. tweets, it's just for awareness. But if you go to his website, all the same shit is there. Is it, is it an endorsement on the MSTR website? If it's not an endorsement on his Twitter page, I mean, where can I draw this line that any rational person would draw? The answer is somewhere in that realm, and he's pretending it's not there. So I would suggest people watch the presentation

he gave in Prague. Tell me what you think. In my view, he is significantly softening the messaging around digital credit in favor of capital, which I think he tried before, maybe two years ago. He was talking about this at the beginning of some of these out of the money taps. And then obviously he's talked about it with stretch. So, yeah, I think the pressure is mounting on him.

And if you ever wanted to know if the pressure was mounting, look at the other Bitcoin treasury companies. They're having trouble as well. I think Sailor's going to be the last one to have trouble. But he may find himself in a position where he's got to kind of cool it on the messaging and get back to something that makes sense. The converts made sense. The incentives were lying there.

But this other stuff, it's not. STRC, they're going to have to increase their yield. Like, it's at 11 and a half now. Isn't the goal they want to maintain a $100 price? And they're like five bucks away. And they've been to five bucks away from it for a little while. Well, they're nine bucks. They're nine bucks away last week.

And they're five now, I think, right? 95. I think he closed that today, something like that. So doesn't, I mean, I'm wondering if it makes sense for them to increase it. But then the question is, like, we make fun of stuff like Tara Luna when they were offering 22% or 21% is right. Same like, you know what I mean? Like, this is just, it's more. You know what's even funnier is that we made, we made fun a lot of Jerome Powell and the Federal Reserve chairs.

How we have to watch those stupid meetings to see what the rates are. Well, now we're all waiting to see what stretch does with their yield, right? They change the yield every so often. We got to wait to find out. Everyone's, you know, waiting out with bated breath to see what sailor does. you're in the same boat. You're in the same boat. The tie is always orange, I guess, with sailor.

You don't have to guess what purple or blue means. But the idea is strikingly similar. Well, I look forward to seeing what happens next of the while, especially if they are forced to sell some Bitcoin for some reason. Man, the price of Bitcoin is going to be negative. The thing is they're never, like they're not, there's no reason why they should be forced. Because the math is in their favor.

Like, so, like, way in their favor. But the question is like, then why sell? Like we've speculated on this, you know, the rationale for the sale and the size of the sale, which is another sort of, you know, head to the hydra entirely. But they don't need to sell. Their balance sheet is rock solid. It's like a fucking fortress. They're way over collateralized.

So I don't know why he did this. Maybe we'll find out on an earnings call sometime. Maybe we'll find out in his memoir. Maybe Danny Knowles will ask him on the next podcast they do before getting punched in the face. He needed that $6 million Bitcoin. I said $6 million. Right. That's what they raised from that sale.

Maybe the private jet needed to get fueled up. Maybe, maybe. Listen, if you're watching this on YouTube, don't forget to like the video and start chatting as well. I hate doing that ass, but you have to. You have to beg for YouTube to give you eyeballs. So if you're on Twitter, too, I see a bunch of you guys on Twitter. Come over to YouTube. Not only that.

If you're watching or after the fact through Apple podcast or Spotify, there's a way to give a thumbs up like a five-star review. Oh, yeah. Yeah. If you want to do that, that helps out. I totally forgot about the audio side the last little while. I'm trying to monetize and optimize and digitize and scrutinize, whatever other is I got to do for YouTube to get this thing off the ground. Anyway, hypothonize.

Hypothonize. Yeah, where do you want to go? Bitair. It's a product from Heat Bit. And it's Bit Air. It's a HEPA air purifier that functions as a Bitcoin miner, right? And there's a lot of these. These things are becoming more and more common.

You see a lot of these devices that provides some sort of functionality. Just buy a 256 heat. Don't waste your time with all this other gadget garbage. So for this one, right now it's on sale for, these are all U.S. dollar prices, at 149. And if you reserve your unit, you're going to get at that price. If you wait a little while, it's going to be 249. And it hashes out at 1.2 terra hash per second. and apparently this thing is whisper quiet

and so it will clean your air provide a little bit of heat and also mine for Bitcoin 1.2 terra hash is about the same as diesel gizmos here so give or take right I think it's about the same as that. It's good for lottery tickets

more than anything else if you're going to go in a pool and you're going to get just a few stats every day if that's your jam go nuts but really this is more for a lottery ticket and at the same time you could purify your air So check them out. It's available at heatbit.com. And I thought it was fascinating. Buy one from Twan.

Next story. Bitcoin Core came out with a note about a privacy bug that needs to be fixed in their software. And the privacy bug is the private broadcast feature. And that was newly introduced in Bitcoin version 31.0. And what this does, it may cause the originator's IP address to be revealed. to receiving peers under certain network conditions. They're going to be releasing a patch in the not too distant future to fix this, but there is a way to mitigate the problem right now.

So if you are running version 31.0 and you're using the private broadcast feature, they suggest disabling this, also setting your V2 transport to zero. and if you are routing your IPV4, IPV6 through Tor, set your proxy to 127.0.0.0.1. Port 9050. Yeah, that's basically it. If you're running an older version of core, you're all right. And this probably goes back to my original point. I talked about, a point I talked about many, many times.

Try not to use the most, I don't say, bleeding edge with the newest software, because you never know. This is a feature that I probably wouldn't use. Listen, you got to go harder than this. The Bitcoin nurse in the chat saying you got to be running knots. You're a knots guy. No, no, I run both. I run both core and knots. I am equal on this. I don't want to. You don't think this is indicative of greater problems in core. The sloppiness continues. The errors continue. It's a comedy of errors over there making mistakes, blowing open holes in the network. No? Okay. No. The software is complex. And there's always going to be bugs that are going to be found in every software, both

Bitcoin. And I run Linux. The Linux kernel has fucking holes in it. And it will always have holes in it. You don't just patch it, fix it and go from there. Nothing is perfect. So I have to give them credit their forefront with the problem. They're telling people what to do rather than just hiding it, releasing the patching after

the fact telling. I like the fact that they're telling people, this is what you should do. We're adults in the room. we could fucking adjust. Let's do it. If only we had Claude Mythos to find that even sooner, but we've been banned. I'm not allowed to use it. You're not allowed to use it. It's a mess over there. It may be. But to go back to what I was saying earlier,

if you could use a older version of anything that's still maintained, that's probably the best course of action. I prefer to go that route and try not to use features that are just recently released. Let this thing work itself out. Let somebody else be the guinea pig. applies to any software. I like that. Totally. Yeah.

All right. Let's see what we have next. Oh, we could talk about lockstream and the shrinks. And you like this one. This is a theoretical defense against future quantum computing threats. And apparently this solves the block space bottleneck. And that's a hurdle that is right now difficult to overcome for the standard post-quantum cryptography solutions.

And so the problem is the signatures right now, if you're going to be using the existing quantum resistant protocols, the ones that are government approved, so think of that, government approved. Anyways, they're quite hefty in terms of the signature size. Shrink's S-H-R-I-N-C-S. This compresses that, the signature part, into quantum resistance protocol by 20 times, roughly 20 times.

And they say this offers protection without requiring immediate changes to Bitcoin core protocol. So no hardcore hard fork or soft fork at all. Basically, you can roll it out and you did, I like that. That's pretty cool. They say this is also entirely going to be opt in. So you're not forced to do it. Again, I like, I like having options, right? And so by, you know, not opting in, you're not forced to pay a premium when using the shrink's script.

And yeah, that's basically something from Blockstream. I thought you'd like this because it's supposed to be tying into making things a little bit more. The quantum thing, because quantum thing is closer than everyone thinks. I'm telling you. It's closer than everyone thinks. More and more research coming out, pushing that timeline forward a little bit out of time. We don't talk about it, but I think I will be proven correct on. this that we

needed to get in front of this. I think what I actually think you're going to see over the next six months is a lot of prominent Bitcoiners start to release stuff like this. That's going to make a big difference in QR down the road, which is great. That's what you want to see. I'm with you on that. And the opt-in thing is really nice. One of the problems with quantum, not with quantum, but with debate around quantum.

And to be honest, around a lot of stuff in Bitcoin development land these days, you know, my limited understanding, of course, everybody thinks they got the solution. that needs to be forced on the network, which is a piss off. The whole point is freedom money, and that comes on both the spending and holding side and also the development side. Opt into whatever you want. You said earlier, for example, you run two harnesses, nots and core. And I think a lot of people are probably starting to think about the best way to interact

with the network and with the asset. This is another example of that. But the volume with which these things start to appear is going to really rip, I think, over the next like six, eight months. So. Hey, look at John. I know, John in the chat. Come in to say, I have to retire the account.

Buddy, we're getting digitally IDed. It's over for us. Yeah, you're here forever. Your identity is going to be placed on the blockchain and we'll always be able to verify it. We, you know, it's there for us. And you'll be watching us. Noster streams or whatever when, uh, the digital gulag starts to open up for business. Why is he retiring an account?

Is it because, uh, I'm just. curious. It's a good ID for sure. He's making a joke. He's making a joke. Yeah. Botanics. Never. I don't know if I don't know the name.

Botanix. Is it a plant? Botanics. That's that's probably right. BOTA-N-I-X. Yeah, botanics. Oh, fuck. Okay.

That's better. Yeah. I never heard of it before, but I probably never hear of it again. It's supposed to be a Bitcoin D-Fi layer two project. And the people behind it are shutting things down because the business model just doesn't work. And by hearing that and reading between the lines, they're not making any money on this. So they're decided to fucking mothball it.

It's not lucrative to stay in business. They obviously must have had a good time, though, because they raised $11.5 million to the duration of this project. I don't know, man. It must be fucking private jet. Almost enough for a jet. Exactly. Yeah. The deadline for the shutdown is July 9th.

And any users who have used this in the past have to, say, safely withdraw their Bitcoin by that date and also the other assets for the network. And because if you fail to do so, well, they're going to have fun with it. That 11.5 million is going to be a little bit higher and they'll have fun on your dime. And the question remains is what the fuck is this project? Well, it's wrapped Bitcoin. So it's a project that deals with rap Bitcoin. Didn't the Trump team invest in rap Bitcoin not too long ago?

I think they did, right? I'm pretty sure that was them. So what they did was... All these things are falling by the wayside now, right? There's kind of, I think an admission of the feat here from a lot of these protocols, layer twos, lending, whatever. Like, you know, it's over, man. It's over.

They use this as a way to get into the Ethereum ecosystem and get access to all the DFI projects over there. And the problem was the network that they have created couldn't generate enough gas fees to cover its underlying infrastructure and security costs. Incredible. They have to shut this thing down.

Just copy and paste it from every failed project to the next one. Just copy and paste it. It's simple as, man. Template it. That's it. $11.5 million. That is a significant amount. They could have just simply bought Bitcoin and sat on it and

you know, in the span, I guess in four years it would have been flat, but still they'd be better off. What the fuck do I know? let's talk about humanity protocol I like this one this must be a summer show like where what the fuck kind of stories

no no I just this is more of like don't get involved in any of this bullshit so there was an exploit in this it's humanity protocol like if I hear this it almost sounds like a charity created by George Costanza it really fucking does

all humanity on the blockchain by George Costanza the attack was done all with a web three attack vector this thing just copying and same shit like these guys are just retarded what do you say about these people

hold on joy this thing gets even better the humanity protocol director oh boy opened a fishing email masquerading as the bit dumb exchange And the fishing link downloaded malware into the developer's laptop.

And it effectively gave the hackers access to the private keys. And they were able to steal all the tokens on there, 141 million of these. That was around 9 to 14 million. And it was liquidated. It's funny because you had a, this is truly centralized garbage. When a individual can be impacted by malware, and that rugs the whole project. That shows you that it's fucking essentialized.

This shit will not happen with Bitcoin. Maybe if Coinbase gets hacked somehow, maybe. But still, like, in the end, it's still, it's not going to be a system-wide thing. It's just one company holding on a bunch of people's Bitcoin. What a fucking joke this is. And you see, this is why I like Bitcoin. And we hear about issues with the protocol, sorry, with the software to client, Bitcoin quark.

they were forefront. They showed it. Here's the issue. We'll fix it. Until then, here's what you do. These guys fucking rugged. I love it. The fishing email just makes it so much better, doesn't it?

Like, you just retarded. The kid is so easy to not get fished. Email tells you, hey, this might be a fishing email. Outlook tells you, hey, this might be a fishing email. This guy's like, eh, you know, maybe I'll just see what it's all about. Let me check it out. It's great stuff. This guy, this is the same guy a thousand years ago.

He's eating the colored berry. and dying in the jungle. You know, nothing new. That's not forgotten. This guy named Trenton, Richard Johnson, a 19-year-old from Ontario, Canada. I couldn't find exactly where. The guy's last name is,

what is it, Trenton, Richard Johnson? Trenton, Dick Johnson. Incredible. Okay, yeah. So Dick pleaded guilty to, in a federal court in Miami, to conspiracy to commit money laundering. And all this began

And way back in January 2024, the dude and his palace were targeting high net worth individuals. And they were impersonating customer support representatives from companies like Google, Coinbase, and Treasurer. So what they did, they contacted the victims and they used a fake story about an emergency and convinced them to give up their email addresses and any other information needed to get in their accounts. One person in California fell victim to this. Amazing. And 185 Bitcoin was drained from this person's 100. What? Bitcoin.

To keep that out on exchange. That is nuts. Yeah. Imagine keeping that beyond life changing money. Mental. Generations worth of wealth. Keeping on an exchange and having somebody else trusted anyways. So they stole this Bitcoin and they also stole,

a bunch of other shit coins from other people. So instead of doing, I can't even say, can you believe I'm seeing this. Instead of doing the right fucking thing, I'm just mixing the Bitcoin, right? Like you have it,

this fucking mix the Bitcoin. Lay low, don't fucking do anything. You know, just live a modest lifestyle. No, the idiot went to Miami, went to L.A.,

and he lived like a fucking baller. Amazing. He used a, this is the best one. And you go to dinner at Casa DiAngelo with Patrick Bindig. David. You should have.

Think about the best way to launder money. This guy, he used a fucking exotic car dealer named Brandon Michael Tartybone. Is he a poison? I guess so they went there to wash the cash and so they basically bought luxury goods, luxury cars and shit like that.

They're using cars as a... Smart. It's really smart. Jesus. smartest guys in the world. In three months, they went through $1.2 million. The dude bought a Lambo, a couple of beamerers, chartered flights for himself and some friends. They bought jewelry, even leasing a massive luxury Miami area residents to hide out from immigration authorities because they were there illegally, United States. They should have bought a box to watch the UFC ofite this past weekend.

Oh, my God. Anyways, especially the dude was caught speeding of all. things and you can figure out the rest he pleaded guilty he had to surrender 53 bitcoin and 275 ether and the rest of the initial 13 million that was gone either remains spent or missing it's going to spend four to five years in jail looks like over there once he's done a beautiful thing he's going to be sent back to canada so we're going to be accepting him with open arms because you know what he's he is there illegally but he's going to spend time behind bars over there what a fucking joke.

He's doing the forced huddle, but he's going to be fucking loaded when he comes out with this quote unquote missing Bitcoin if that's the case

but he was I don't know we'll see hopefully he didn't put the ledger up his hoo-hop because that's going to get stretched

in jail right with the baba his sailmate totally I think might just slip out next time he's sucking on something

then won't be a pinnacolada let me tell you that what a fucking joke I think that's it I don't think we should talk about anything else. Yeah, we could go through the rest of the stories.

Okay, yeah, yeah, let's do it. If you're on, if you're live with us, hanging out, we're not going anywhere. If you're not live, then come back tomorrow for the back half of the show on audio. I think that's it. Okay, yeah, take care yourselves. Take care.