The Wolf Of All Streets - Bitcoin Is Eerily Quiet As 9 Month Volatility Hits Low! Big Move Coming? - Jeff Park

Episode Date: May 26, 2026

Bitcoin volatility just hit its lowest level in nine months — right as the Fed pivots from rate CUTS to a likely HIKE under new Chair Kevin Warsh. With BTC pinned under $80K, $1B in ETF outflows this month, and bond vigilantes back driving yields toward 5%, the calm is starting to look a lot like the setup before a major move. Learn more about your ad choices. Visit megaphone.fm/adchoices

Bitcoin is eerily quiet as nine-month volatility hits a low. We're going to discuss what this lack of volatility means for the future, because often that means a big move is coming. And, of course, everything else happening in the news that might be impacting markets. We've got a very special guest today, Jeff Park, joining Andrew Tillman and I. Let's go. Good morning, everybody. And welcome to the show.

I hope that you all had a wonderful holiday weekend, if you are, in fact, in a place that celebrates as important a holiday as Memorial Day. Going to go ahead and bring on Tillman, Jeff, and Andrew right now. Good morning, gentlemen. Good morning. So when I told Tillman and Andrew that you were going to be here today, Andrew sent this meme of you walking into the show right here. I have never said that me before.

I don't even know what show that is from, but I think we need to bring that to a show. crypto conference. The big brain rolling in. So listen, let's lead with the main story here. Bitcoin volatility hits nine month low as crypto takes a breather. Now,

we talk about these things all the time, but it is I think pretty shocking how low volatility has been here, especially considering everything surrounding it in the macro and often this does proceed bigger moves. I mean, Jeff, what do you make of this lack of volatility entirely here, kind of at the end of May?

No, it's true. the volatility has been the lowest spin all year, 35, which is somewhat ironic, as you noted, given the global macro context. I think what it says is that maybe relatively, not even for a lack of interest in Bitcoin, there's just so many other things that are taking priority for hedging purposes that people think have cleaner basis risks towards managing their investment portfolios. And so from a trading flow perspective, I think what still is interesting is even despite the outflows that you're seeing and the Bitcoin ETFs, I think last week was fairly large, over a billion dollars in outflows.

Nonetheless, the price action holds up with volatility being muted where I think there is just continued interest without those who having sold already probably sold. From an institutional hedging activity, as I see period, there really is none in the crypto world and there's very little in the CME world. But if you had to pick directionally, I do think you see a little bit of a put-skew. I do think you see a risk-reversal richness where people are hedging more likely than speculating,

mostly into June expiry. I think that is probably a natural and aligned outcome just relative to what people are thinking through the global macro context. But again, there's no signal here because the volume is low. And I always tell people, like, volume is, First and foremost, the most important thing when you're looking at data in the static snapshot.

Because without volume, it's a little bit noisy. And there just hasn't been, frankly, a lot of trading or interest, both in derivatives world, or really even in spot world in some sense for Bitcoin since the beginning of the year. And watching Deval kind of go back below February. Yeah. Yeah, they lost Jeff there for a second. Not sure he knows he's lost. I wrote a bunch of things down because he said some cool phrases there that I'm going to start using so I could be the big brain guy that walks in the room, right?

Like I wrote a bunch of those phrases down. But to Jeff's point, you know, I'm not as sharp as he is when it comes to the evaluation of this stuff. I just know. Not even close for being on it. Yeah, yeah, that's true. If you've got a billion dollars that leaves like, you know, on the third week of May, that, that's not. elves, feels, and probably tastes like selling may and go away when in the previous three months, you had three billion that came in. Yeah, it's interesting as Bitcoin gets quote unquote

financialized, that the volumes have slowed down and the volatility then has slowed down. It is where do we go from here is the question that I have over the next six to 12 months as the continuation of building things in the Bitcoin in crypto space continues unabated. So you have this dichotomy of reduced volumes across the space, but you have this increase of commentary. and my assumption is the building of architecture, tokenization, and whatnot on the other side of things. At what point did those two things collide? That's where my interest lies because there is no shortage of commentary at Morgan Stanley, at BlackRock,

and all of their competitors about, okay, tokenization is the next thing, so what are we doing? Where are we going? We can't stop talking about it. That's for sure. Morgan Stanley has said some extraordinary things that Morgan Stanley usually doesn't say. They don't use terms like the next generation of wealth management. They don't often throw those things out as if they're not given serious thought. Compliance has looked at it 47 times before they say it, and then they get to say it. That usually doesn't happen in that world.

So I'm interested in where we head from here. Yeah, someone's beeping. I like it. So I agree with both of you generally, Jeff. I mean, if we saw high volatility on extremely low volume, it also wouldn't be much signal, right? So, I mean, it's just kind of really, I guess, nothing to unpack there, but it seems to be the main narrative at the moment. I want to actually talk about since obviously you had a stint at a Bitcoin Treasury company, not what Saylor is doing right now, because pretty interesting that he, you know, he triggered everybody by tweeting, I think this week we bought bombs, not Bitcoin or something.

You know, kind of, I think people thought he was like yoloing into TLT with their treasury or something. What he meant was they basically completed the repurchase of their own convertible debt. I mean, there seems to be a trend here. Strive somewhat did the same. Even Marathon did the same, closing these convertible notes that maybe were the suboptimal way to buy Bitcoin they found over the last year. But Sailor clearly making a bigger move, I think, towards FTRC and away from the notes of

the past and getting these. getting these off the book. I mean, what do you think it is? Yeah, I think there's a few ways to imagine his thought process here. One, you have to look at which particular issue he decided to buy back. Two, the amount, of course, that he decided to buy back. And then third, the most important, the price in which he decided to buy it back. He's going to come back.

One, two, three, bang. Nope. All right, Timon, you're up. That's back. Try again. We launched you at the price that he's going to buy that. Ah, sorry. Okay. So the first on the series itself, the 2029, I thought was interesting because it's not the near dated expiration and it's not the furthest dated. So it's not really a decision on kind of short-term liabilities as much as the moneyness, I think, on the option. Because 2029 is the zero coupon that has, I think, the option that is most of the money. it is basically pack pricing the option to be nearly as worthless as possible. So the price at 92 then is as interesting too because if you think the option is worth nothing, paying 92 for a bond in 2029 implies a spread that is negative to

micro-shy's corporate credit risk, meaning even if you put in the risk-free rate as it is at 4.5 plus, the price should be lower than 92. So what does that mean? It probably means that there is some value, nonetheless, subscribe to the option, even though it's hundreds of percent. Gold. That is gold. I'm trying to shut up so we can hear all the gold. Yeah. Yep, here he's back. All right, keep going. Man, I'm so sorry about this. The internet is not really working with me here. Yeah, I'll jump in on this one or Andrew because I just, I'm looking for a catalyst is what I look at the market is waiting for. There's a lot of hope. There's a lot of

exceptional M&A activity that's going on. There's a lot of exceptional partnerships. All of the signs are pointing to price appreciation. The volume is dry because it almost seems to me like a coordinated pause. You know, if I'm a company or if I'm somebody that's trying to release something, you know, doing it amidst war headlines and some of the other things like Jeff was talking about that are going on, it's not optimal. There's bigger fish to fry essentially. And so I think the markets are waiting for those things to be fleshed out. I think, you know, we've talked on this show a hundred times about how nothing really does move the markets anymore or if it does, it does for a couple of weeks and then it fizzles out. well, I think we found one that kind of has stuck.

I think the oil prices moving up the way that they have and just the tensions in the region in the Middle East. I think that that has put a pause on everything essentially until it gets worked out. And rightly or wrongly, that's just the fear denotes people getting frozen and they like to sit on cash and they like to look at all of the volatility that's happening in their investments and they get more. fearful about that volatility specifically. So you see more emotional selling into that volatility. All of those things we've seen, whether it's silver, copper, gold, Bitcoin, you name it. It's like every commodity, everything that could be moved, has been moving. But except altcoins. That's basically the only one. But we're starting to even see that stuff. I think we saw some movement this last week in a few in a few tokens but it's just we're waiting for the for the

bigger conversation to finish before we start chiming in about you know economic conversations and development and code and all the fun stuff that we are obviously excited about and looking at and focused on but it's still it you know there's just a pause in the markets there may be a longer pause to Andrew's point like selling may is a real thing so we may you know kind of go dormant for every time almost it is uh but but across the uh twitter interwebs as i like to call it uh conversations being had about a meaningful uptick in interests with crypto you know those little charts that they show you where people are searching for crypto um so i you know i saw i saw a couple of charts yesterday from you know a couple people that uh you know folks find interesting both

I think Anson as well as, you know, what's his face? The guy, the bit next guy, Arthur. And, you know, both of them, you know, we have a pretty decent pulse of what's going out out there. And so they shared those charts and said, hey, look, you know, we're bubbling back up here. So, you know, that exists to what extent interest in quote unquote crypto turns into actual volume purchases and movements in the actual

that could be people are very interested because they want to sell their crypto I mean it could be that underwater bags that's less what was that stuff that I owned again

let me Google that my God I'm only about 80% I was done 90% oh man awesome so yeah it's a again there is a meaningful dichotomy between you know crypto markets and then the broader traditional markets and you know the traditional markets has

said you know iran war be damned we're going higher um and they have just consistently gone higher the s mp 500 has set new all-time highs not new all-time highs but has been higher eight weeks in a row eight eight weeks in a row with you know tweets and posts and social and straight of her moves and, you know, all kinds of crazy stuff going on geopolitically. S&P 500 doesn't care. Don't you think that has a lot to do with Fed Chair and, you know, anticipation? I kind of looked at that as the market pricing, the Fed Chair swap into the price. But, you know, I'm not saying that we're not going to, I'm not going to say that we're not going to

keep going up because I do think there is a big print coming. And I think it's warranted based upon the investment. that we have to make as a country and the position that the world's in. So I think the catalyst could be, you know, that. But I also think the catalyst could be, there's just something in my gut that says that there's going to be a strategic Bitcoin Reserve announcement of magnitude at some point. I'm waiting for that. Very interested to see how that would play out and what that looks like.

But there's no doubt that before Trump leaves, he's going to want to revisit the strategic reserve, in my opinion, and probably put a pretty big mark on it. And, you know, if we have to wait that long, so be it. But the amount of M&A activity that's starting to spark up in our space, I mean, just go look at the headlines of who is partnering with who. but like hyperliquid for example just added prediction markets they're expected to just explode i mean there's all this innovation that's taking place it doesn't be very far to look and so that's what i focus on that that's the price is indicative of momentary emotion and a million other variables that cannot ever be pinned down that's the reason why the market works the way it does but over long term, you can predict where the herd will go based upon convenience, based upon inexpensive,

you know, costs or reduction in costs. All those things, blockchain, pick a chain, it beats the traditional side of things, you know, hands down. I, I think what's going on on the banking side of it is critical. I think that will happen in the next two years. So it's just, it's a momentary lapse of activity and it's probably going to continue to carry which would to Jeff's point earlier I'm pretty surprised that we haven't had a slippage in price I'm surprised that you know with such a you know kind of doom and gloom and just bored audience that you know we haven't seen a pretty substantial dip now we may and I'm ready for it and I you know I love dips but it's it it it may hold up and we may see something like you know last summer uh who knows honestly you're

you're missing it again milker he keeps saying dip and you're you're you're not doing the track in the background you know what i mean is absolutely missing we dip we dip um it it is you know the doubt by the way just to both of your points because i have uh interesting here the short interest in the u.s stock market is in a multi-year high so andrew's saying you know it's been up eight weeks while this generally sets up a short squeeze and Tillman talking about the herd you can see exactly where they are at stocks right now there's there's a lack and usually that means there's a good one leg higher we'll see I'm not yeah but yeah historically that's what we want to see is a big rotation in capital right and yeah historically that in that type of activity uh hot you know super high levels

of short interest it to your point means another leg higher because you know all the dudes that that are long are like hey look let's go eat all of that right um and so yeah that that that's usually a marker of some sort um you know the dows back above 50k you know NASDAQ s&P hitting all-time highs it by the way it is it is truly something in the past two years what we've seen. In 2024, there was something like 58 new all-time highs or 57 on the S&P.

In 25, there were 37. And so far this year, there's 17. Right? So, holy smokes, man. Well, like, there's a saying on Wall Street says, don't fight the tape.

Yeah. Right? Dude, you're going to get mowed down. If you, if you say, oh, you know what? It's just a pullback. We're going to get a, at some point, there's going to be a drop. And then those short guys did absolutely obliterate it, right? So, you know, be careful.

Well, it's like the inflation chart. If you look at our debt chart, if you look at the inflation curve, if you look at all the charts, what are they all parabolic? They're all going real high, real fast. So what does that mean? Well, it means our markets, our expansion of, you know, our, our, our productivity has to match all those metrics. And so, you know, you're going to see a massive pump into equities. I think Trump has done probably a pretty good job of laying the groundwork for that move prior to getting into the war.

You know, if you look at all of the people that he paraded on stage talking about the massive investments they were making in America and all of that, you know, I think supported the overarching objective here, which was to knock out one by one the list of objectives that he's considered critical to get accomplished in his last presidency. And I think we're, you know, I think the economic one is near and dear to his heart. If I had to envision being in the rooms with him and Netanyahu talking about the war, I think they're probably the only tension between them is Trump's desire to focus on the economic side of things more. But I think, again, it's bigger fish to fry. There's, you know, who knows what we don't know is the point. At some point, you've got to just trust that the inflation is going to take you higher.

That's the biggest move. That's the biggest piece of momentum in any markets is like how much cash is available to place. And what are the options to place it? And equities provide you a lot of liquidity, a lot of, a lot of institutional advantage. If you hold a lot of equities at a big firm, you get a lot of perks. So all these things are going to pull more money into equities.

And we're going to continue to see a rise in those. But I just think that Bitcoin right now is poised very well to catch a lot of the blow-off top money or people that are divesting out of some of those positions or at least taking some of those profits. And that market, the equities market is just so much larger than Bitcoin that even if we catch a fraction of a fraction, it's meaningful. And the systematic buying of our equities markets from 401Ks, you know, from foreign investments, all of those things are kind of constant rising tides. And we're starting to see that on the ETF side on Bitcoin kind of become that rising tide and support the efforts in a way that, you know, provides. price stability. By the way,

Tillman's commentary about blow off top is not just rhetoric. He actually has a grenade in the window behind him. And so, you know, he actually takes it seriously. You know what I mean? If at any point,

he could detonate that thing below the top, right off of the top. It's actually a clock. If you listen closely, you can hear it tick. And it's painted in graffiti and it says, make art not war.

So it's a sculpture and a clock. at the same time. It's hard. Yeah, it's art. Okay, well, all right. I thought it was fun to talk about. Excuse me. I mean, you know, the market, the lack of volatility is astounding.

I think, Andrew, you guys hinted it. Hyperliquid has, I think, kind of captured the zeitgeist when it comes to the actual crypto side. And I'm not even talking about the token. And I'm saying I think that's fair, but I think the platform itself, right? I mean, as you said, launching prediction markets going right at polymarket, you know, I think in that angle, capturing, you know, $700 million in volume a day on oil trading. Turns out that there's actually some positive uses for this technology.

Once again, like I'm sure, and from what I've heard, because I haven't dug deeply, that tokenomics are actually pretty decent. And it does trade kind of like a stock, right? where you have actual value approval to the token itself. But, you know, there's real things happening. And that has led to a little all-coin season and, you know, kind of AI-adjacent things. And then hyper-liquid, I mean, hyper-liquid z-cash near. I know all kind of had big moves for different reasons.

So maybe, you know, it's right now time to look at privacy, decentralized exchanges, and AI-adjacent. Yeah. Well, here's the thing that is interesting that's happening to our markets. It's like if you think about a market expansion event, let me give you my analogy. If you've ever been to Chuck Echee Cheese as a kid and you played the whack the mole game, where the mole comes up and, you know, it rotates around. A mole. Our market used to be where it was like, it was like four mole possibilities to choose from.

And the volatility of the price rising allowed you to react quickly because you were only paying attention to four different assets, and there was kind of four vehicles that you chose from. If you look now, there's a hundred moles that you have to pay attention to. And so, you know, it is, it's, it's a sign of the times as it pertains to the complexity by which investing is, is going to be reshaped over the next two, three, five years. And you're going to have to get ahead of it with automation. You're going to have to meet and, you know, kind of fight fire with fire because 24-7 is here to stay. I mean, there's more headlines around that in terms of markets going 24-7. The integration of markets is here to stay. We're seeing tokenized assets pretty much pop up on

every major exchange. Arch Public is adding that functionality because of the demand from our customers. They're just shouting. We want this cool on the equity side. Well, guess what, it's coming. And what's best about it coming is that it's coming on platforms that they can do everything, the complete integration of those two markets. So all of that is just, it's indicative of the fact that you're going to have to get ahead of the options that present itself. And you're going to probably have to wait longer for the volatility to come back to your mole. So you have to look at the whack-a-mole analogy and go, okay, am I going to sand over?

at the crypto section of the whack-a-mole machine, and I'm going to focus on that. Well, if you're only applying your abilities to the market and you're only monitoring when you're free to monitor the markets and you're only applying, you know, the trades that you have the time to make and have you put your due diligence in, there's going to be a lot of moles coming up and down while you stare at one and wait for it to come. And if there's 100 moles, you're going to have to wait a lot longer for it to come. And so these cycles may actually start to expand in terms of the volatility coming back to specific assets because there's so many other assets that the volatility can go to. And we saw that in like 2017 in a kind of a small example of it in the alt coin space, right?

It was like there was 100 alt coins and you couldn't, you felt like one was popping off all the time, but there was this rotation. that felt impossible to get in front of. So you just were chasing the moles around the board, not really ever getting any hits. And so I think that, you know, we're going to only see that problem get larger. And that's exciting because it presents a lot of opportunity. There's going to be a lot more rotations.

But it's also daunting in the fact that there's a lot more to choose from and a lot more to manage and a lot more opportunities out there to sift through, if you will. That's the way I kind of look at the, especially Coinbase right now and what they're doing is they're bridging two markets together in a very successful way. By the way, the billion dollars out of Bitcoin ATFs last week is literally the very nature of sell and Maine go away because last week was effectively lead up to Memorial Day weekend when you know every executive worth half a buck on wall street um leaves the city and goes to monta

hamptons of some sort and so that that that move out is just nothing more than the unwinding of the you know black rock options slash spot epf carry trade type of deal that that's all that was in fact i haven't looked at it closely but if you go and look at the outflows my guess is 80% of that billion dollars was probably Black Rock's ETI. I'm almost certain of it without even looking at it. Yeah, so I wouldn't be meaningfully concerned about that. But I do, you know, to Tillman's point about the broadening of the base in terms of, you know, let's just call it investing in where people can invest and where they can go to

get volatility and use it to their advantage and how they use it to their advantage. There's just going to be more and more places to be able to do that. Hyperliquid is a, you know, it's the story of the day. I will add when it comes to hyperliquid, you know, good for those guys. It'll last a couple of years and then price compression is going to be part of what they're going to have to deal with. Because you're going to be able to do two years from now, you're going to be able to do nearly everything you can on hyperliquid on e-trade, right? and on traditional exchanges and brokerages everywhere. So given that,

that's going to be the case. Or a merger, right? That's the idea for them and for everybody. That's the unholy matrimonies that will take place between traditional finance firms and other firms. And I'll give you another headline to this example that was on my feed today, which was, you know, Robin Hood acquired Wonderfi, a Canadian crypto company.

What is it? That was Mr. Wonders. Yeah, Mr. Wonderful. Yeah, exactly. Yeah, and so they acquired it last year, maybe a year and a half ago. And everybody was kind of like, you know, what is this about? Well, it's because they got regulatory clarity and they are going after integrating their services into Canada. And this was the easiest path for Robin Hood to take to get there. And so you're just going to see that happening.

a lot. And that's exciting. That means that people are investing. That is no stronger endorsement than you can get for the space, in my opinion, because it's real capital being placed in real vehicles, hoping that it will return a lot of profits. So my point is, is people are putting their money where their mouth is. They're actually betting on the expansion of this space with large amounts of dollars. In seemingly reckless ways when you look at it at face value. If you just go like, you know, wonderify, I bet you they don't have that many customers. Not to,

not, comparatively speak about the infrastructure. We talked about the infrastructure, but it's really, I think they bought the licenses. They bought the regular business. It'll always be easier to buy it than to build it. That's,

that's, you know, been the case for 60, 100 years in, in business. always easier to buy the bill i like retail cash i like to buy it our our momentum is something we're actually putting out a press release today that's going to talk about the momentum that we've seen over the last year uh the user growth the pace of the user growth uh the pace of the user growth

uh the pace of the capital that's involved with our tools and strategies um pretty pretty extraordinary stuff and we're really really excited about it um listen i i i i i i I personally was on like 12 demos yesterday on Memorial Day because people just have, there's a sense that people are starting to figure out that if they don't somewhat educate themselves on automated, agentic, algorithmic type of tools, then they're going to get left behind over the next 18 to 24 months. And so they want to learn. They want to understand.

They want to stay ahead of the Wall Street curve, right? So, you know, people are, people are pretty serious about getting involved with us, learning, understanding, but also having a hand to hold as they walk along the sort of edge of innovation. So we're happy to help them through it. I think managing volatility is exhausting, right? I think that's the, if you've been in the crypto space for any period of time or in the equity space, it'll put gray hairs on your head. It is an exhausting practice. And the more you manage, the more exhausting is.

That's why hedge fund managers don't last very long typically because they can't. It's like being the president. They're under a lot of pressure, a lot of, you know, magnitude behind what they do. And so as we see volatility enter into every market. as we see these interconnectivities, that is going to be a more difficult thing emotionally to manage than ever before. And so how do you remove your emotions from something? Well, you set up a plan and you then execute on that plan. And so automation, Archpublic, what we're doing is exactly that. You set up a plan through software and then the software executes on that plan and you monitor

it and you gauge it. But it's your plan. You run it. You control it. It's very unique. And to Andrew's point, if you've ever thought to yourself, like, what is this next piece of agenic trading look like? I don't think there's a better place to start than to talk to one of our guys and get a demo because there's literally no pressure whatsoever. You can use the tool without buying it. So it is free to use. We made it available to use for pretty much everyone that's, you know, a smaller customer because they need it the most. And that's kind of our mission statement and purpose is to deliver institutional tools to the masses. And so as the markets become connected, as there's more volatility, as there's more whack-a-mole

events to monitor and manage, that's where we want to fit a solution into to help you manage that. Exactly. Yeah, a robot that can whack all the moles that you said. up instances to whack yeah my my favorite birthday party happened at chunky cheese so i appreciate this part of the conversation it brings that some really great memories and i actually had a basketball birthday cake that my mom made with a little hoop on the top and a little ball and all my little eight-year-old friends were there this is a really good time let's talk about jeff and what he said

because i i love when he's on the show we got to get him back um he's just it's gold literally coming out of his mouth. Oh, Derry. What I was curious about, you know, I was trying to understand what he was saying about Saylor and what he was doing. But I'm going to have to go watch it again and run up through AI to get a summary. But the, what I did pick up was that he thought it was a good play, that he was in, you know, felt like he was endorsing it as a smart move by Saylor.

With all the things that Sailor's doing and all the pivot he's making, you would have to assume because the money keeps coming that he's satisfying real market demand and those parameters are being pushed on him almost by market demand. And that's encouraging also. It's very different than the ETFs and it's very different than the development that we're talking about. it's this strange, you know, it's a very strange vehicle that he's created. And I don't think it will be duplicated anytime soon. That's why I would make the argument that there's somewhat of a monopoly there and will be because no one will catch him. But it's an accelerating monopoly is the point. But the point is that he continues to raise billions of dollars.

He just made another massive purchase. So until I see. him, you know, start to get fear in his eyes about his ability to raise, I think we're, we're just at the beginning. That's indicative to me of really, really big money buying. That's not a lot of retail purchases, in my opinion. I think that's a lot of OTC massive chunks of exposure that's being acquired. And if you just talk to you. about like who could be doing that. Well, they don't want to know you to know and that's why they're buying in this form. This is one of the best things that they can do to and we just saw, I think,

a big announcement that number one, Donald, I think, President Trump said that he, I think, owns some unless that was a fake news headline. But then, you know, you saw that SpaceX has this massive storage of Bitcoin. And you go, okay, well, if they have a massive. You know, Elon knows his way around crypto. It's not surprising that he is buying Bitcoin. But corporations that want exposure, we don't know the half of all the ones that have been buying and accumulating and getting exposure. And that's indicative of really smart money moving early.

So it just kind of tells me we're still on the bleeding edge of this wave where it hadn't even curled yet. Yeah. So, Archpublic, we've got to go here. fairly quickly. Yeah, Mellker's got to go to, you know,

some school thing or something weird. Whatever. Dad or something. But come talk to us at Archipublic. I actually had our team send out a just a wild opportunity for people to jump in at Tier 1 or Tier 2

this week on the concierge side of things. And people responded in a huge way. So get involved. There was actually a guy. yesterday that I talked to that said that actually used the term it's exhausting like trying to figure out what he should do with his crypto he's like I got to tell you I have some real skills and I

I kind of leaned in so I was like okay what's this guy about to talk about he's like I'm really really good at at buying the top and then I'm also really really good at selling the bottom and then you really sold it to me and I'm like hey sweet awesome that's all He's like, and then he's like, and you know, and sometimes I try and move some of it on to the, you know, onto, you know, self-custody. He's like, it's all, it's all so hard. It's exhausting is what he said. I'm like, well, hey, come here. We'll take care of you. I've got one thing before we go as well. We've been shocked with how many people in our community of customers want to get together. We had over 100 of you come to New York for the Bitcoin Investor Week. We just, a number that came out as we were kind of looking at doing some regional meetups.

So we have over 160 customers in just Denver area. And so we are really looking at putting together some regional get-togethers to strengthen our community and to have fun together and break bread together. It's been a desire of ours. We've had two kind of broad. private broadcast concierge only webinars, and they were unbelievably successful. We had a blast together. So if you do live in Denver or a major city, please reach out to us if you're a customer

and let us know if you'd be interested in kind of spearheading something like this and being, you know, a leader in that community and helping pull that together. Just because I will tell you, it continues to floor me the quality of people. that are our customers. They are really captains of industry across the board. I claim Topeka, Kansas. Topeka, Kansas. All right, your chapter ahead. Everybody has to have it. Awesome, guys. Everybody check out Archpublic.

Sorry to run early, but got to go. And Archpublic.com or at Try Archpublic on X. That's all we got for today. I'll see you guys tomorrow. Thank you, gentlemen. You bet. You guys just have a wonderful day. Really. I'm saying that because the outro music is not set there, so I had to say something like.