The Wolf Of All Streets - ETH Liquidations Outpace Bitcoin As Crypto Falls | CryptoTownHall

Episode Date: August 18, 2025

Well, good morning, everyone. Happy Monday for those who celebrate in the summer. Here we are in August and on Crypto Town Hall today and every day at 1015, a little bit late today. And we saw a weekend sell-off where continuing a trend from last week, strangely, most of the liquidations or at least half of them were coming from Ethereum and not from Bitcoin. So Ethereum seems to be leading in both directions lately. And there's a lot to talk about as far as that's concerned. You know, before I shit on Ethereum, as I might be want to do, I think it'd be incumbent from some of the more bullish people to say, to ask the question, you know, was this just a short squeeze led by digital asset treasuries adopting Ethereum, notably Tom Lee?

Or was there something sustainable there? You know, what's going to happen next? I'd be curious what the panel thinks. I mean, William, I usually go to you being the resident Ethereum bull. I mean, what are your thoughts about what you're seeing in the market? Yeah, I mean, I think this is a very short-term blip. The inflows last week were $3.77 billion. 77% of that were led by Ethereum.

So more Ethereum inflows last week than Bitcoin. I think what we are seeing on the weekend what we saw is a bit of an overhang from the Friday options expiration where the put-to-call ratios was slightly in favor of the puts, 1.05, so a lot of the longs were liquidated on Friday, and we got this overhang. But overall, if you're looking at the long term, there's nothing that has changed as far as Ethereum is concerned. And I would expect that some of the digital asset treasury companies will continue buying this week because they didn't blow all of their load at once. There's more coming. So I'm not worried at all. So you're not concerned about the action of people to...

unstake Ethereum outweighing the queue to stake Ethereum by two to one, you know, into the, you know, because of the price rise, you don't see that as a, creating a significant resistance at the, you know, at, towards, as we get towards 5,000. Not really, because there is a benefit, actually, if there is a little bit less being staked, what happens is that the yield returns will go up. Previously, the percentage-staked Ethereum was quite high, just pushing over 30%. Currently, the inflows are about half. The outflows, that's correct.

There's a bit of profit-taking. But even that will barely move the threshold by a couple percent points, but it will push up the yield, so it will make Ethereum as a more attractive asset for stake. which will bring back some more capital in return. So again, it's almost a part of the course. It's part of the abs and close of what's going on. Okay. Lawyard, I saw you had your hand up. Yeah, I think there's also a lot of, one thing to consider is there's a lot of PTSD in Ethereum.

And when we push to an ATH, it's not like we have this history of every time we see a cycle, high, it's way higher than last time like you see in Bitcoin. We get to these prices where these guys staked saying, you know, I don't care, four or five thousand. This is going to be 15,000. And here we are years later. So I think you'll have a lot of people on staking. And that doesn't mean that it's not going to be going further. And a lot of those people are going to be upset and say, you know, I can't believe I hoddled until I was right and then I was out at it. So I'm not making a prediction on the price direction, but I'm not surprised that as we approach all-time highs, you know, some of the older players just want to get the fuck out.

That's a pretty quick one. Yeah, sorry, I'm driving in my car, so, you know, hearing a little bit of beeping, you know, going on around. Yeah, it's, the words that economists use are price elasticity, and, you know, it's true for both Bitcoin and Ethereum, there's a difference between them, and that Bitcoin, we know for a fact, is hard capped in terms of mining supply. And everyone talks about the four-year cycle based on mining supply. But the truth is, is that all assets that have holders are elastic to price in the sense that when the price rises, long-term holders are like, okay, I can take profits here. And the issue with Ethereum that's a little bit different than Bitcoin, obviously a lot

different, is there were a fair amount of people who bought during the last bull run who saw this as a chance to get out even, and that always creates resistance. And so it's not to me remotely surprising that there was a bit of, you know, a bit of resistance there, and we are in the summer. So I don't think that anything that's happened recently is creating a direction that is strange.

It's just, it's always, it's always interesting to look at crypto Twitter and see people's reactions when it does happen, though. Yeah, Dave, if I could jump in, actually just ask William a question. Like, does he feel that, I mean, we kind of all saw that the numbers yesterday of the people or holders unstaking, right, kind of, and it was told as like a race to the exit. But William, do you think there's, like, sufficient buying buyers there to accommodate for that, or we're going to see a significant drop here?

No, I mean, I think the interest is still there. and another data point that's even more telling. It's last week, Ave said that they are pushing all-time highs on their GVLs and activity. So that is really more of an alpha signal in terms of bullish activity, and three-quarters of the activity on Abe is Ethereum.

So there's lots of lending and borrowing there, and that is more of a leading indicator. than of a lagging indicator. I think staking and staking cues are lagging indicators. I'm sure a lot of people that went in at 2,600 they'd have to have their head examined if they don't take some profits out currently at the 4,500 levels.

So that's pure discipline. And there will be a lot of that going on, which is fine. But again, seeing, seeing the inflows at half of the outflows after such a run is a good sign. If the inflows were much lower, I might have been a little bit more worried. But you also have to balance the fact that the ETF inflows are still very high. A lot of the Treasury companies still have a lot of dry powder. They didn't put all of their investments all at once.

I expect some new announcements in September. Some of them are waiting for the after Labor Day activity. They don't want to do a lot of stuff in the summer. So again, I'm not worried at all at this point. So, you know, the other big thing that we're not big thing. The other thing that we're noticing in the markets, if you look at Bitbo's volatility index on Bitcoin at least, you know, Bitcoin volatility. is starting to get toward levels that we haven't seen since 2003 in the summer of 2023.

And you might remember what was going on then. It bottomed. And then, of course, there was a liquidation cascade followed by a pretty sustained bull run. So, you know, it went from 29 down to touched almost 23,000, and then, you know, rocketed back up. But it's like these sorts of summertimes often are mask. A lot of things that are going on.

I mean, Sasha, I don't know if you're behind the microphone there, but at the tie, you obviously have access to a ton of data. I mean, what are you seeing in terms of, you know, not just technical, but also, you know, all the various factors that you look at. What are you looking at this morning? Yes, I think I concur with what you've been saying more, like, not necessarily, I don't have any particular number to give on what's going on. I think what you say about the volatility is accurate. I think it just to put it, you know, simpler. I mean, this is what we see in old bull markets. Like there's when there is super high, there's some sort of like mean reverting type of action after a big, a big spurge in activity.

And I think that's what's going on. Yeah, it makes it, it makes for a slow summer day. The one thing I will tell, the listeners should know that volumes this weekend were about as low a weekend volume as we've seen in a while. I don't have any specifics, but not that I can talk about because I can see from, you know, the Coinrout's platform who was in the hundreds of millions as opposed to billions, which is for the first time we've seen a weekend that's slow in a while. but when you see those sorts of low volume moves, they, I won't say they don't mean anything because they do. I will say they mean less. That is what you're seeing. And the fact that we saw $500 million liquidated and about half of it was Ethereum. The reason that matters is because it's not being led by, it's not a Bitcoin-led market either way. So typically in all seasons,

you see, you know, Bitcoin lead the way up, and then it kind of languishes as other things happen. But that's not really what we're seeing here. We're seeing, you know, the dawn of something new. And I think, William, something you've been saying for a while is that, well, Ethereum is its own thing, and it shouldn't be beholden to Bitcoin, right? Yeah, I mean, if you look at the numbers, Ethereum has been getting closer to Bitcoin in market cap, if that is one number, and a lot further from the other alt-coins. So it's distancing itself, rightfully so, because of all of the activity that's underlying the asset.

So, yeah, that's the reality right now. And it's going to continue. I think it's going to continue. It might take a small pause right now, and the all-time high is going to be a different. difficult threshold to get over, and I've been saying being realistic here, I think the road from 4,500 to 7,500, is going to be a little bit more different. It's going to be a little bit more difficult than from the 2,600 to the 4,500. So I'm being realistic there. I hope we will get there by the end of the year, but it won't be before without small bombs on the way. Yeah, I mean, that seems baked into the cake. I want to shift gears for a second to curious what people think. I personally saw one news story over the weekend or last week that was, I think, kind of important, at least in terms of market direction, in terms of adoption.

And that is the news that Larry Fink, he of Bitcoin being 500,000 to 700,000 in the future, and he of everything that's going to get tokenized being the interim head of the, World Economic Forum. I'm curious what people think about that, because from my perspective, it feels like that entity and the central banks that tend to listen to that entity have really never given either Bitcoin or the notion of tokenization there do, and that that could be a fairly relevant thing as things go forward. I'm curious, am I the only one who thinks that or what what to others think? Go for it, William. Yeah, definitely.

I think as you said, I agree with you, Dave, that he is going to be educating them. So they listen to that, to him. They listen to the WVF, and there's going to be a lot of education from his side, and it's a positive development. I mean, Adam, you know, I know you have a little bit of,

stain for those folks, but I can only imagine it, well, I can see the smiley face of those what are your thoughts on? Bro, the cabal, cabal, and man, it is like, it's disgusting, right? I mean, I don't know how to put it other than it's disgusting. It is what it is. It's surprising, like, great win picking him up, right? That was like a win, you know, you can only speculate on the amounts or the leverage that was used to get him on board, but this is like, you know, this is like the worst of the

worse i don't know the you know but that as i said i know your i know your opinion yeah on the cabal i mean it literally is i don't know how you look at it other than yeah this is this is uh this is like i i don't want to get into like deep state stuff but this is like this is the the most insider insider baseball stuff that happens um in world politics and finance and it's disgusting you know full stop well well let's let's let's i don't know about the word disgusting. I mean, the entire... Bro, well, yeah, yeah, go ahead, sorry. No, no, no.

Because you and I don't disagree that much. I just said this question of degree. I'm just a very practical human being, right? You know, it's the notion and some of the things that the former head of the WEF has talked about, I mean, you know, we'll let them be bugs and control the population and

take away all of our freedoms, go to a central bank digital currency, and do all that, all the stuff that they have said. And they've said these things. This isn't a conspiracy theory that these folks believe that there's a two-tiered society and they're the tops, you know, you know, you pick your sci-fi author and I'll give you the analogy.

But that's all true. But the other thing that's equally true, and you have to realize, and I assure you agree with me, Adam, is that that organization has been to say, we would call them the final boss multiple times vis-a-vis Bitcoin, right? So the notion that we may very well have a softening in the world economic forum stands for Bitcoin is good for our bags, but is likely to trigger fear, even more fear of co-option. I think is that the way, am I phrasing this? Yeah, I definitely, I definitely think that's the way. And, you know, we've talked about it a little bit with, you know, stable coins and how, you know, it's potentially being, you know, co-opted to some.

degree. And, you know, your point is it kind of moves, you know, crypto forward. I don't necessarily disagree with that. But I think at the core, what it is, you know, for someone who's kind of a libertarian like myself, is that what we have is we have a group of people who think they know how to run the world best. And what we've seen through COVID in our lifetime is, or, you know, the government in our lifetime is that when that happens in that group, you know of small group of people have power like that bad things tend to happen and um bitcoin is is a direct threat to that and and you know i look at it as all crypto is a direct threat to that but can it be co-opted and and coerced to their you know to their liking of course right of

course and so you know this is the thing we have to always keep an eye on and you know i mean is it going to happen it it sure feels like it's going to happen to me um in a lot of ways we see with i don't know if you guys have been tracking the kind of Manero attack that's happened over the last couple weeks. I don't know if we've talked about that. But, you know, these are like, I don't know, it just gives me this sense of like, well, people like, well, how could Bitcoin be attacked? It's the mining infrastructure is too great, right? But you look at how Monaro got attacked through this kind of like, you know, mint a shit coin and give it to miners. And all of a sudden, all the miners move to this thing because they get this extra, you know, revenue stream. And I'm not saying that's

the way Bitcoin is going to be a tech, but we need to pay attention to these sort of things about how, you know, what I would consider bad actors can take over Bitcoin or can co-opt it. So it's just something to keep in mind. Like, this is human nature. This is what everybody wants to do. Everybody wants power. Everybody wants to be in control. This is the way we are.

I'm not a big believer in like, you know, world cabal. But I just know that people in power want to stay in power and want to keep it. Right. And so we need to be very aware of this sort of stuff. Yeah. Sorry. I see Gary jumped up on stage. I mean, I can only imagine that from a de-risking perspective, you think that, you know, Larry Fink at the World Economic Forum is yet another domino that's falling. I also thought it was interesting how your brother made the point over the weekend about 22, you know, how much more money he would have made if he had

invested in Bitcoin. Thoughts this morning, Gary? you muted gary hey guys um i played uh cards till three o'clock in the morning so i'm just getting my eyeballs up can i listen three in the morning huh i know i was too scared to show up but i've been there been there and done that but you did get called matthew mccaneh this weekend so you got that for you. Well, hell. I think I got more Bitcoin than Matthew.

Well, I bet that's true. Well, I shouldn't say that. You never know. I mean, some of those guys are smarter than we think. But, you know, I would imagine that having somebody who believes that Bitcoin is, is a strategic asset and that tokenization is going to be the dominant financial thing being in the world is something that would bring a smile to you, I would imagine. And three, you know, bleary-eyed and needing a cup of coffee, you're notwithstanding.

Okay, well, you know, having been in many, many a late-night poker game myself, I'll stop thinking on Gary. But, you know, there's a lot of thought processes this morning and a lot of stuff in crypto Twitter that are describing, you know, the best way to describe it is, is kind of, you know, fear slash, uh-oh, are we in for it again? And I think the word, I forgot who used it, you know, PTSD is a large part of what people think. I mean, you know, lawyer, you know, what is your thought process on, and do you think that we're just going to sit like where we are around here for a while? And, you know, that's kind of what I think. And we also have the Fed talking at Jackson Hole this week, which I suspect will be a whole

lot of nothing, but with some volatility mixed in. Yeah, you know, I'm not a trader, so I can't really time the market, but it does feel like we're going to be ranging for a while, and I'm all for it. William. Yeah, I just want to say one thing about Jackson Hole this Friday, and I listened to the previous hour, Dave, on the macro trends. What I expect to hear on Friday, I want to see. if Pavel is going to show that he was spooked or not from last week's numbers.

That's what I'm looking for to see whether there's point one difference in the price index. How is going to react to it? Because he has to touch on it. He has to say something, either directly or indirectly. And that's what I'm going to be looking for on Friday. Yeah, we talked about that a lot this morning. On Macro Monday, you know, James Lavish made the point that, you know, the numbers kind of show softening. You know, we saw the PPI is different than the CPI and the PCE, you know, which is the Fed's preferred notion. His point is they'll probably, and that the market is effectively pricing in a 25 basis point cut amid softening conditions without much fanfare. And what he's going to do is talk about data dependence and will probably dampen expectations for anything going forward.

I mean, I don't know what the market does in that scenario. My suspicion is stock market probably won't love it. But I don't think that that's going to create anything major because that's more or less what people expect. Okay. topic. So we, you know, it's very difficult in the summer and I'm still driving. So I do apologize. But, you know, yeah, Adam's enjoying.

I just love, I love when nobody has any comments and you're just driving your car. And I can, I can hear you like navigating as you're driving, trying to keep this combo going and nobody's got any comments because it's the middle of summer and everybody just napping and playing cars. Yeah. Well, you know, it is, it's, it is, there's a lot of that. I mean, you know, we all joke about it. People are staring at, you know, whether it's their, you know, whatever application it is, whether it's coin rats or whether it's coin market cap or whether they're Coinbase account or whatever.

I mean, people are staring at it wanting it to do something? And the real question is, does those people want it to do something? Are they looking to buy? Are they looking to sell or what the hell are they doing? And the truth is they're not doing anything. And one of the points that I made this morning, which I think is not well appreciated, is that, crypto, more than any other asset right now as an asset class, is dependent on what I would call momentum. So when momentum, when there is a lot of volatility, and this is we're going to go to the last topic, it's going to be micro strategy, things happen.

And I don't think people appreciate what that means. I mean, I've seen, I don't know if anyone has seen it, but it would be great if someone like Josh Mann were here to talk about it. But it feels like the tenor of the posting for crypto Twitter against Microstrategy is exceedingly negative right now. Now, that makes sense, in a sense, because Microstrategy is dependent on volatility, and volatility is really, really low. So, you know, and there's implications of that. Is anybody else following this? Okay. So I'll continue. So what does that mean? So MSTR, MSTY, all of these things, they're all selling volatility on Bitcoin. When Bitcoin volatility gets low, it's going to cause micro strategies stock in a reflexive loop to underperform and all of these things to underperform. The same thing is true when volatility increases. And so what you could end up happening is what the options traders would call it, that it's not options, but it's the it works out that way, is we could end up with an interesting gamma situation.

So I think that there's a possibility of a gamma squeeze in September if, in fact, there's any sort of rally and any sort of increase in volatility. And I don't think that the market is ready for that. And I don't know. If anyone up here cares, but I certainly do. And I think a lot of our listeners very well might. So what would be the play with that, Dave? What would you do with the options in that case?

Well, my thought process is as the yields start collapsing and you see a bit of a sell-off and micro strategy that as that accelerates, if the price of Bitcoin doesn't follow and starts to bounce and you start seeing volatility creep back into both their stock price and Bitcoin, that's when it could surprise to the upside if it rallies. and on the downside, I think it's going to be more muted. I mean, it could happen, no doubt, unless there's a stock market crash. But I do think that when Bitcoin gets really rangebound, and if you listen to Saylor, he talks about this at his last presentation or two presentations ago, he specifically talked

about Bitcoin when Bitcoin is rangebound, how that his complex of assets tends to underperform and it performs better when it's moving. And that, of course, is true. So it's a really interesting scenario. And unfortunately, he has three or four different assets now. So it's if you can't overgeneralize. But the yields go down when volatility goes down. And as I said, Bitcoin volatility is low.

So that's what's happening. The other thing is the other interplay is, is microchrapsy is still on an NAV basis, despite having reasons for it to be trading above its book value. It's still cheap compared to most of the Bitcoin treasury companies out there. you know and that that means that there's armed to there's stuff to the armed out of the system that's what that means that logical yeah totally like we got I mean this is the quietest crowd I've ever experienced on this show it's it's a special one today Dave um yeah my question is because I don't track it too often I you know I I I don't I'm not a traitor at all I'm a buy and

holder. But what is kind of settling is like the nav that's acceptable kind of for Bitcoin and for ETH? What's the NAV? Like what's the general consensus right now and what that is? And do you think, I guess, volatility makes it go higher? Tell me, tell me kind of the current normie version of what's acceptable right now. Well, I mean, if you look at a Bitcoin at a treasury company, I mean, I don't see any mental model to evaluate a treasury company on any asset. as different than either, somewhere between a closed-end fund, which can trade 20% up or down, as we've seen or more in the case of grayscale, but 20% up or down from its NAV to a bank, which can trade anywhere from one and a half to two times its book value, depending on how it can

leverage the underlying asset. And so when you see a Treasury Cup and trading it more than two times it's NAV, it's probably a sell in the long run, although understand that these things get very hard to borrow and probably you can get squeezed out of your position before you want to sell it. But it's certainly something to avoid from a long-term holder. And I took a lot of hate from this on Metaplanet when I said the same thing two months ago. Those people are noticeably quiet today. Well, tell me how the market got so tricked. Like, I'm just thinking of S-Bet and I'm still underwater an S-Bet because I got tricked into it, right?

Well, because people don't look at these things. As I said it before, markets trade on momentum. Everybody thinks that they're smarter than everyone else. You know, the old stat that 70% of all people think they're above average, right? Totally, yeah. Well, the same thing is true in market. So people think, well, I could buy this, but I can, I'll take my profit. that and I'll be able to sell before everybody else does.

It's literally the same thing. So if you're buying something that you know is a piece of crap or, you know, something like Bartcoin, you know, you're doing, you're buying it because you think you're going to be able to sell it before everybody else does. Now, you're hoping, in the case of memes, that there's enough of a, quote, community out there that's holding on to the price or people that kind of think, see it as something where they're going to hold it. But, you know, if you watch Pump. Fund, there's a reason that almost every coin.

I mean, some 98% are total failures. Well, the reason is because there is no holder base ever. And so the people buy it, they can sell before everybody else. And there's a reason that most people lose money on it. It's just that simple. So with these treasury companies, people are buying it on the hopes that they can sell it to somebody else. That's different. Microstrategy isn't like that.

Microstrategic people are buying it because they want a levered play that can take advantage of the volatility when it starts to move, thinking it will outperform when it moves. It's just pure, you know, managed leverage. It's the same deal as why you own J.P. Morgan as supposed to hold in U.S. treasuries, right? You know, because they both have big asset bases. J.P. Morgan can make revenue on it. Well, the hopes is like strategy can. But when that hope of revenue is too high, it just goes away.

And so we've seen that. But, you know, the other thing that we saw last week is people are excited about crypto, right? So the other big story last week was bullish. I don't know we didn't talk about that much, but it matters because you see a company trading at 75 times revenue on their IPO. And that is a sign of frost, but it's a particular type of froth. It's a froth that says equity holders want to get crypto exposure on the come. And that's different than a treasury company where you're just owning the asset.

So there is a huge demand for operations. cooperating companies that are in the crypto space. That's the takeaway that I have. Does that make sense to you, Adam? Yeah, totally. I just, yeah, I'm still a little salty about SB. I can't even, it's hard to even imagine, because I wasn't paying attention in the first, you know, day or whatever it was where it ran to, I don't know, $100 plus dollars or something

like that. Now, markets are irrational. I mean, obviously, it's just, it's just like crazy to believe that that was, I don't even know what that was. That was 20 times NAV, 30 times, I mean, some crazy number, right? It was insane times. I mean, literally insane times. And like what God helped that person who bought it 100? Like, you know, what was he thinking? Was he thinking it was going to go to a thousand? Like, I mean, just crazy. But that's the way it is. I mean, this is just one of these examples where, you know, and we talked about it before, like you said, it's basically at that stage,

it's basically a meme coin. And it's just, it's stunning to me when the market is that irrational, when you can actually calculate the nav, right? And so it's, yeah, it's stunning to see. I guess the only other thing is, you know, do people put, you know, when I'm thinking about Ethereum, do people put a premium on Tom Lee, right? And do they say, well, he's a, and I think this is actually true. I think, you know, he's a much better salesman than,

than Lubin is, right? And so, and people believe him, you know, they trust him more. So does that add sort of any value? It doesn't seem like it should add any real value. But would that kind of bump that nav up higher than what S-Bet would be simply because you have a better operator? You know, for, I mean, on the Bitcoin side, it might be, okay, well, Sailor's a better operator than, I don't know, Jack Ballers, right? Or whatever, whoever the, the other guys may be, right? I mean, is there any, are you seeing a premium on that based on the other? I mean, it's like the Jamie Diamond premium, you know, it's going to be some, but it's,

but it's marginal, right? You know, so 1.5 to 1.7, you know, whatever the number is, you know, you'll get some of that. I mean, it's clearly, there's value in a good CEO, and there's a lot more value in a CEO who has a vision that goes beyond just, you know, accumulating assets, right? You know, and so there will be some of that. Anyway, William, you have your hand up. Yeah, just quickly, because I have to drop off as well, I'm driving. I can only comment about the Ethereum asset treasury companies.

You have to remember most of all of the top three right now are only like weeks old in terms of announcements and getting going. So it's a bit too early to judge them on their returns, on their performance, and how will they be measured. So I think they are still in the honeymoon period right now, perhaps for another at least one or two

quarters. And some of the return models may be different than what we have seen with the Bitcoin ones, because Ethereum is a more productive asset. At least it has more activity underlying its defy capabilities. So a lot of these companies

are going to get creative in how they utilize their Ethereum holdings, and I think we have to wait and see what the next two quarters will tell us in terms of how they plan on telling us about their performance. Yeah, Sasha, you have your hand up before I respond to that. Yeah, you know, maybe it's better if you respond to now because what I was going to say was going to be different. Okay, well, all I was going to say is every time I see an Ethereum rally and we hear

and we hear Joe Lubin and others talking about how it's superior money, it's a more productive asset. My response is, well, Ethereum is a tech asset that is based upon its activity and usage. Bitcoin is a denominator asset that is based upon its value. And trying to mix those metaphors often creates almost impossible tortured logic. And so, you know, I know Adam's going agree with that and Gary probably as well. But, you know, it's probably a longer form conversation. Anyway, Sasha, what were you going to change to? Because we're going to have a sponsor in a few minutes. So let's go. Yeah. What I was going to say is I think also we have to take a step back and, you know, try and like what is micro strategy and Michael Saylor trying to achieve? And

and it's the way they started with all that was this Bitcoin thing, right? From their perspective was treasury management. And that's really what they're trying to get to. And Michael Seller mentioned doing a $100 billion credit facility for Bitcoin, right, for treasury management. And I think that's what the long-term goal of what they're trying to achieve is. And when it comes to the digital asset treasuries, I think there is also a big differentiation between the assets, the assets that are publicly traded, and the security is offering that are being done in private markets. And these often have different profiles. and that's something that people often forget. Yep, I think that's right.

Hey, before I read another disclaimer, Buzz, are you almost ready? I'm ready to rock whenever you are, my friend. Okay, well, before we do that, I just want to say, hey, folks, the quick disclaimer, this last segment is brought to you by a partner of Crypto Town Hall. Imagine front-running Wall Street in the world's fourth largest crypto, a deflationary powerhouse that yield baking rewards that fuels one of the most active blockchains on the planet. BNV is outpaced Bitcoin with 25 times returns over five years, yet it's been off limits to most U.S. investors until now. Enter CEA Industries, ticker BNC, boy Nancy Charlie on NASDAQ, the first publicly traded company to adopt BNB as its core treasury asset, echoing micro-stratory's Bitcoin Playbook,

backed by institutions like 10X Capital and YZI Labs. They've raised $500 million, positioned for math of inflows from ETFs, exchanges, and sovereign funds. Specificated investors, this is your backdoor to BNB exposure via a single ticker. Start your due diligence on NASDAQBNC today before institutions flood in and the edge vanishes. Buzz, you're ready to rock and roll? Yeah, I see we have Richard and the listeners as well. I mean, Richard Seeler, who's on the show quite a bit, he's been calling that there's going to be some public companies working with B&B for a while. So if Richard's listening in,

I'm sure he's excited about that segment. But we do have a sponsor on the show as well. It's Akato. Why don't we get a mic test from Akato? Maybe introduce yourself just as we're getting started here with our sponsors segment. Hi, guys. Yeah, definitely.

Thanks a lot for the intro. Yeah, you were mentioning about B&B trial strategies. And yeah, we're actually built on B&BChN. And currently we're in the BNB chain ecosystem. And we're in the AI category, we're an AI company. And right now we're building an AI framework that can empower users or creatives to create some custom games in minutes. So, you know, right now AI is very fast, it's really fast developing.

And we're leveraged AI into some applications. So you don't need any coding skill or knowledge. You know, our AI agents will help you, you know, work on that. You just tell the agents what you want to build. Yeah, and then you will generate a game that for you. You can also make it very customizable to upload some of your images, your graphics. And that will be really featured. Yeah, right now, our product is already live.

You can try it out. Yeah, that's something about Akato. Thanks. What do you think is the biggest problem that you're looking to solve with Akato? Oh, yeah, I would like to get it very quick. Because right now, I think we've seen lots of, you know, AI infra and the AI framework. But really, you don't really see, like, lots of the AI, you know, applications. And I think right now we're addressing, you know, some people, you know,

understand their perspective on AI, you know, we want to make the user, when it utilize into people's daily life right now. Yeah. And I think we, you know, another thing that we want to address is that I think games are pretty, GameFi is really, you know, down, carrying the, in the market. So we really want to revive it and add AI features to games.

So I think, you know, based upon what I described, I think from the application side and the plus to, you know, revive GameFi, I think that's something that we've been working on. And also because, you know, I think it's amazing. You know, each player

can be a game studio and you don't really need any coding knowledge and skill. Very similar way to Roblox, you know. For Roblox, I think lots of people that have no doubts. And also, the very early stage for TikTok. So that's something that we actually, you know, we're built upon. Early stage of TikTok and also Roblox to make sure that you can be a creator

by leveraging our tool and to make it pretty fun and to build your own community, like based on our, you know, AI tools and in our, you know, platform. So that's something that we're about to address. And I think it works pretty well. You mentioned early in your first answer, introducing Akato that the product is live. Is that in an MVP stage or can all users go sign up and start using it right now and taking a peek? Yeah, definitely. Our product is actually already live and you can tap into my page and check out, you know, everything.

because we already, you know, partnered with some names like BNB Chen, like Bera chain, like another tabby chain, and some memes like Simon's Cat and some lots of, you know, other big names. You can check out

like on our X page. We've already, you know, created some games for them, wipe coded. I mean, they actually vibecoated their games on our platform featuring their IP, like Bara's IP, like you know, some other means IP. So that's something that will actually pretty alive and the product is actually pretty mature.

And there are also, you know, tens of thousands of daily active users. You can take the daily metrics on B&B Chen. So I think that's something, we're still like a very early stage, but we're still trying to upgrade our features to make it like customizable to more users. And because with our AI system, we're actually gathering the users' behaviors and their feedback and to gather the data to feed the AI to make sure it more feature to our customer, our users' behaviors. And that's something we're also doing. And recently, we also, you know, campaigns with the four memes, the largest launch pad, you know, Mincoin launchpad on B&BChin. We host a very big campaign.

You can also check it out. It's in progress. And we've already seen thousands of users. I mean, they have been creating games based on BNBChimp featuring for MIM, and they're actually creating games. And you fight for a prize pool. It's a lot of one. You can check it out by yourself.

And, yeah, the product is actually fully mature. And I think that's very exciting moments for us. Yeah. I love when you're referencing the users in adoption that you guys have gotten thus far, you're really highlighting that not only do you guys have a lot of users who have signed up, but there is a large amount of users comparatively to across the crypto ecosystem that are actually using the product because those are metrics that obviously would be very hard to fake. And in crypto, I think there's a lot of products out there that claim to have a million users and things like that. but oftentimes it could just be people who are signing up for an airdrop.

So I commend you for really highlighting the number of people who are using the product for what it's meant for. That's awesome. And for people who are tuning in, I did pin a post up in the nest from the Akato official account. The handle is at Akato Fun. So I first welcome people to give that page a follow, but also to go to its bio. That's where you can access the link tree for all of your official links. And I chose this post to pin up there because it's the countdown to TGE. So I'm sure that a lot of people are interested in getting some more details on the TGE if you don't mind sharing.

Yeah, seriously. We're pretty approaching our TG like in this week. And you can actually check out. Check out the cool coins. It's already made a announcement about Kido listing activity information. But right now, they're actually running at IEO or there's four nights. And you can actually check the link. You can actually check the link.

There are already, you know, millions of U.S. dollars have been subscribed for the scorelight has already, you know, over-subscribed. And it's increasing. It's already, I mean, it's increasing. So you can check it out. I think the token is pretty welcome. And gradually, we will have, like, more exchanges, big names, like coming out about our listing information.

And, yeah, it's still an alpha. But you can just, you know, keep your eyes on list and we're going to row it out probably in the next two days. And you're going to say that, you know, because I really appreciate our, you know, development team because most of that pretty experienced and pretty professional, how are working, really. I mean, great work ethic. I've seen that, you know, been working day and nights. Yeah. So just because we're pretty approaching our teacher, there are so many, so many features to be developed, like air jobs. like air job, like claim page, like, you know, the earlier I mentioned about the AI create feature and the play job feature and also some other, some other, you know, trivia things.

But they're being, they're being persistent. Right now everything's ready. So we're so ready for R2G. And yeah, that's something that I would like to mention. I think, yeah, yeah, we're so confident because we're being working on this. project for over a year and it's been building quite a while or been through like you know a lot I think it's yeah we're going to test it and we're going to test the resilience as how it goes with our TG and I think the listening information will be rolled out pretty soon and uh and we're actually pretty satisfied with what we have so far and what we have now and you if you're into that you can keep your eyes on let's you can also go to our cook coin page and to see how that goes And guys, just keep your eyes on let's. Yeah.

That's wonderful. So not an exact day and time yet for TGE, but for those who are tuning in, make sure that you follow the Akato account. And you can also put the notification bell on as well as soon. I'll be tweeting out an exact day and time for you to prepare leading up to TGE for however you'd like to play that. But my next question is really around strategy. So I'm curious about what your strategies are for sustaining ongoing development and also for supporting the value and the growth of the token as well.

Yeah, absolutely. First of all, we've got our, I think we've already got our product alive and there are so many uses creating games on Arcido. So there will be like some protocol phase from that. and we're actually having another exciting product coming to our platform pretty soon because we not only want players to be creatives or to increase more creators, we're also integrating a monetization layer. So we really want the creators to monetize their work. So that is why in one month we're going to integrate it.

create another launchpot, Minkoin launch pad. It's a little bit different from traditional ones. It's very much like, you know, from traditional ones, and yeah, you can create games, you can create your meme probably in a few minutes and you just, you just need to have like an image. Yeah, you can create a meme under lunchpots. Well, we're doing something like, you know, currently we have this product that play job feature. You create your games and you can integrate some tokens in your games. Any token like USD or BNB or Doge or or Bunk or any other mean tokens into the game. And users can play your game and earn these tokens. And, you know, in this case, you can create your own community. And afterwards, you can also tokenize your game.

You can tokenize your games on our main coin launch paths. So in this way, the difference is that, you know, after you create your, your, uh, your main token, you're already, have a community. And you have also something that you can let your users to play. Probably you can distribute some of your main tokens to the users who are played your games. So I think that's the key difference, you know, because, you know, in the past, right now, actually, the game quality is pretty good. I suppose lots of people have experienced the wave of tongue or the telegram. So I have to tell you that each of the game you create an archito will be better,

be better, will be better quality than most of the games on Telegram, milly up. So that's something that's, that's pretty interesting. Yeah, that's actually something that we were about your chief, like, you know, you create, you create, and you monetize, and you stay. So that's, that's part one. And of course, there will be some staking features, you stake your, uh, your, aka your government's token, you're going to gain rewards. And also there will be, we're also talking to some public firms, like to do, you know, trier, you know, acquisition.

That's, we're always talking to some public firms like, like that. We're also talking to some liquid funds, like to support some OTC deals like to provide more liquidity. Yeah, that's something on the, on the development. So yeah, that's the strategy we're going to leverage. And I hope, you know, it's going to perform pretty well. Very cool.

Well, again, to the audience, make sure that you're clicking on the Akato account up here. Obviously, they're up as a speaker with their account, but also that pin post. So if there's anything that is striking your interest, make sure that you're just going to their official account and following official links because leading up to a TGE. I'm sure that there's going to be a lot of scammers

and fishing attempts out there. So we're making sure to highlight those official links. But as we're wrapping up here, is there anything else that you'd like to share with the audience or any final call to action of how they can get involved or learn more or maybe stay up-to-date with the TG. Yeah, definitely. I'd like to also wrap up like about what I've just mentioned about,

I think we're one of the first projects, AI projects where I've already put into application in creating games. I think we're one of the first projects in Web 3 and also where one of the top AI projects in the BNBHN, We've also got lots of, you know, backers. You can check out our profile, some lots of, you know, Western, you know, vices. We've actually met lots, you know, funds. I think that's something, that's something else, I would like to mention.

And also, very exciting about our TG and lots, you know, exchanges, tier one exchanges, and coming pretty soon. And you're going to check our announcement about our listing information. And really encourage you like to keep your eyes on Lady. have to engage, but probably you can keep your eyes on it. I think we're also going to make some waves, like probably in three days. And that's more about our main coin launch part. I have to mention we've also be ready for that, not only the product.

Also, I think if you have, if you're experienced, like in Web 3, probably you know, virtues. I think they've been generating hundreds of millions of dollars, like through their own launch pad. Palm dot fund, I think billions of U.S. dollar generated from Pamtofong and also, you know, other launch products need us to see lots of others. And we're actually building something similar. And I prefer to call it like an AI launchpad, you know, AI mincoin launchpad.

I think that's a better name. And in this way, I think we're going to generate a lot of similar income, like to make sure the revenue goes to buy back the tokens. And we're also talking to some public firms. for the treasury acquisition and also the liquid funds like to back it up so lots of things are ongoing and we will continue to build and without a very strong tactic and you know to contribute to the ecosystem to make sure that you know more users engaging on to make sure more users to be created on to monetize their work and a similar model to roblox they really want to be the web three

version of roadblocks so yeah The way, it's still very early for us because AI is developing so fast, we're going to leverage this AI models, I'm going to continue our strengths and to expand, like, our eco. Yeah, that would be something that would like to mention. Guys, you know, Arcito is on the right. Just keep your eyes on late. Thanks a lot.

Excellent. Well, I appreciate you joining us today. Definitely, if you're tuning in and like what you're hearing, give them a follow. Like I said, but follow all of your other speakers as well. I know that we've lost a couple here just towards the end, but all these speakers who are speaking on the show today, they're not only dropping Alpha in Crypto Town Hall spaces, but they're attending many other spaces as well

and often have really great content on their timelines. So give them all a follow if you're trying to learn more and kind of gain the alpha in this space right now. A little bit of a red day, but I wish everyone a great and happy Monday. Hopefully we get some green candles here. And Akato, I wish you guys all the best leading up to the TG. I know that's one of the most important moments for a project, also very time-consuming and a lot of hard work that goes into it.

So as we're wrapping up, I just want to wish you all the best and all the success moving forward. So take care, everyone. Have a great day. And we'll be back tomorrow at 10.15 a.m. Eastern with another episode of Crypto Town Hall. Thanks, everyone. Take care. Thank you.