The Wolf Of All Streets - Is Bitcoin Still "Digital Gold"? Precious Metals Go PARABOLIC!

Episode Date: January 29, 2026

Bitcoin has gone unusually quiet just as gold and silver surge in parabolic fashion, creating a striking divergence across hard assets. In this livestream, we break down why capital is rushing into pr...ecious metals while Bitcoin’s price stalls, what this shift says about macro fear, liquidity, and safe-haven demand, and whether Bitcoin is being left behind—or simply coiling for its next move. As markets digest geopolitical risk, policy uncertainty, and stress across traditional systems, this moment may reveal more about where Bitcoin fits in the global asset hierarchy than any short-term price char

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Starting point is 00:00:00 Not only are gold and silver and other metals going parabolic, but digital versions of those assets are also going parabolic, leading many right now to question a new narrative, which is, do we need Bitcoin, if Bitcoin is digital gold, if we actually have tokenized gold, which is digital gold. I think you probably know where I stand on that. But we're going to dig into that and all of the news of the day, plus a massive announcement from today's guest, Keith Grossman, the president of Moon Pay. if you guys didn't see it, they have done a monster partnership with one of my favorite entities on
Starting point is 00:00:35 the planet, the X games. So really excited to dig into that with him. We've got Keith coming on momentarily to unpack it all. Let's go. Good morning, everybody, and welcome to Melker's Metal Show, where we talk exclusively about the performance of gold, silver, copper, and your other favorite assets. No, we are still going to attempt to talk about crypto today. And I have one of my favorite people here to join who strangely we've never done it on video we've talked a lot teeth i i was thinking the exact same thing right like i think we've talked for the past five years but never on video you're quite a good looking man i already knew it you i appreciate that thank you tell my wife remind her you know sometime but listen you and i have a lot to talk about here in a limited time
Starting point is 00:01:39 to do it i kind of joked with you the same joke i just made before I said, well, we just talk about metals anymore. It's all anyone wants to talk about. My new premise is that metals like digital asset treasury companies and crypto companies where before have just become the new alt season. Like this is where all the coin money is and they're behaving like alts, right? Gold go up and all of a sudden silver is like the Ethereum and it follows. Now copper is breaking out.
Starting point is 00:02:04 And then you told me you actually have a copper story to tell a very exciting copper story. No, I mean, look, the metals are exciting just to see, right? To see everything get tokenized for the first time ever, right? And you're starting to see real assets get tokenized. I'm forward, right? You saw the news yesterday about Tether, right? Tether is the largest holder of gold outside of, what was it, banks and countries. Outside of sovereigns.
Starting point is 00:02:34 Yeah. It's absolutely fascinating. I saw that they tokenized copper, right, futures. And so I wanted to go on and just play with the flow of it. And, you know, like, it's not a perfected consumer experience yet. I think that there's still a lot of things and tweaks that they have to make. But it's fascinating to be able to play in it, right? Because for someone like me who loves technology, someone like you, who loves, like, the
Starting point is 00:03:00 investing angle and, like, where things are going, like, I look at copper and I go, well, you needed in all the AI transistors. You needed in all of these sort of, like, cellular sort of operations. this is the first time I've had access to it. So, like, this is really fun. And you, like, doubled your money in two days. Yeah, yeah. You know, I bought it not as an investment,
Starting point is 00:03:23 but I bought it to test the flow, but yes, the flow testing doubled in two days. That was a good, good flow testing. So you alluded to the fact that the user experience is not quite there yet. Yeah. About the first time I've heard that in crypto. Yeah. Strangely.
Starting point is 00:03:38 But what is it about it that's lacking? And does any of that translate to a crypto issue? Right? Like, yeah, that would translate to other crypto or tokenized assets. Looking forward, we all know that that's what's coming, right? So are we a little too excited about what's coming based on the experience that you had with it? I would say, so there are a few things, obviously. First, you know, there are things that, you know, crypto doesn't always think about the consumer experience first, right?
Starting point is 00:04:08 and we know that, right? Crypto's like, let me give you access first, and then, like, I'll figure out the consumer experience, second, third, or maybe never, right? And so, you know, like, some of the things that I thought were funny, and actually I'll hold back on, like, who I bought it with because I don't want to be, like, a criticism of them. But, you know, I got 25 alerts that my position was going to be liquidated.
Starting point is 00:04:34 And at no point was it even close to the liquidation? numbers, right? And so right off the bat, right, like it creates an extraordinarily stressful experience, right, to get these triggers nonstop that you're going to be liquidated when you go into the app itself to see what was happening. You're like, oh, it's totally fine, right? Like, I'm way up. Number of like Mexie or Prime XPT or something. It was wild. Number two was, you know, having to buy on a contract basis is something that's very different for most people in crypto, right? Like, think about Bitcoin. I still firmly believe in the thesis of Bitcoin, right?
Starting point is 00:05:17 Like, I think it's one of those funny things where, as you said, like, hey, we now have digital gold. So do we need Bitcoin? Well, digital gold for Bitcoin was just a marketing sort of, you know, angle. So yes, I still very much believe in the Bitcoin thesis. But, you know, like when you look at copper, I thought one of the most interesting experiences I had was I had to buy a contract, right? So like it wasn't like buying sats or being able to buy like a small amount of something. I had to actually put out $1,100, right? And so that's not a small amount to test, right? And so you look at that and you go, huh, is that extraordinarily accessible to everyone?
Starting point is 00:05:58 I don't think so, right? but, you know, like time will tell. Yeah, I've been hearing it a lot on Crypto Town Hall and on Twitter that if we have tokenized gold, why do we need, quote unquote, digital gold? And I think people conflate the meanings of those terms, right? Just because you can trade gold digitally doesn't make it have the qualities that we love about Bitcoin because that gold is still stored somewhere in someone's bank with a trusted third party and you're trading a paper version of it.
Starting point is 00:06:35 Not the same thing. Bitcoin is a, in my mind, Bitcoin is a superior version of gold. That doesn't mean it needs to trade like it or that the only beneficial quality is that I can move it from me to you without sending it from fault to vault. I couldn't agree with you more, right? Like I think, first off, if any person who's going to make the argument that tokenized gold replaces the notion of Bitcoin doesn't really understand what Bitcoin's sort of value proposition is, proposition is, or sort of what makes it unique, right, in that nature.
Starting point is 00:07:06 And, you know, ultimately in a world where, like, you're seeing more global instability than ever before, physical gold still needs, as you said, someone holding it, right? Like, physical gold still needs to be able to move cross-border, right? fiscal gold still needs some sort of centralization, right? And so like there's a lot of protections that Bitcoin will provide. There's a lot of benefits that Bitcoin provides that whatever you want to present it as from a marketing angle is irreplaceable compared to anything else. And speaking of tokenized assets, some big news that sort of seemingly just got lost in the mess yesterday. Fidelity investment starts its own stable coin in a massive bet that future of banking is on blockchain.
Starting point is 00:07:52 and then in a similar report, banks to lose up to $500 billion by 2028 as Fidelity's digital dollar launches on Ethereum with freeze powers. Yeah, I think that we all know, by the way, that any centralized bank-led stable coin is going to have freeze powers. Heather has freeze powers. I'm so happy that our conversation is scheduled for today. Like, I could not believe more people didn't talk about this. This is such a, not the freeze power part, the fidelity part, right?
Starting point is 00:08:22 This is a trillion, multi-trillion dollar issuing, like institution issuing their own stable point. This is a really big deal, right? Like, this is an incredibly big deal. And they've been incredibly supportive of the digital asset ecosystem for years. But you look at Fidelity entering into this space. Like, this is the beginning of, I think, a lot of really good things to take place. Well, Philip Fidelity has been in crypto forever. They're the first institution that was ever here, but they weren't in stable coins.
Starting point is 00:08:54 Right. So I think this is just a very bold statement or signal for the industry that if the most supportive incumbent of the industry who's been mining since the mid-2010s and who was first to apply for ETFs, they're doing their own stable coin. This is going to get crazy, right? Because everybody's going to have a stable coin. I'm not sure how the interoperability is going to be. work. They did it on Ethereum, so that's a clear signal there. But yeah, man, the stamp of approval for stable coins couldn't be any more bold. But look, like, I mean, here's what I like about the digital metals conversation and the fidelity conversation is, you know, I've been at Moon Pay now for three years,
Starting point is 00:09:38 right, just over three years. And you and I have known each other since my time at time. Like, one of the reasons why I wanted to shift industries so dramatically was, like, what I saw was the internet taking on this embedded finance layer, right? And I thought it was just a bigger evolution than anything else I've ever seen in my life, bigger than social, bigger than digital. The internet was getting money, right? The thesis that Ivan, myself and others have been thinking about from Moon Pay for the past three years has been simply the world is getting faster, more efficient, and cheaper, right? And both of these things are validating of that thesis, right? Like having stable coins proliferate, right, just allows for faster settlement time.
Starting point is 00:10:25 It allows for more efficient sort of movement of value cross-border, right? And especially when you start to think about someone like Fidelity, right, it allows them to capture on the economics, you know, really, really nicely. So I think the next logical conversation to have is about the state of the Clarity Act, which is just getting obnoxious and exhausting for me. But I love loved this headline, so I have to laugh. White House summons Coinbase banks to hash out crypto bills. So listen, clearly this is not at the finish line, right? We do have the Agriculture Committee. I can vote on their markup, so maybe some progress. But where this ties into the conversation we are just having about fidelity is that Coinbase has a very favorable situation right now.
Starting point is 00:11:12 Right? The Genius Act didn't go far enough to eliminate the yield on stable coins. So Coinbase can still do rewards, quote unquote, and they're not going to support, not that they can block this, I don't know, but they're not going to support something that takes away their bread and butter, right? So interesting that the White House is, once again, air quoting, summoning them, like, get over here and let's figure this out. I mean, you guys, you can speak to this as a president of Moon pay from your perspective, obviously doing a lot of the same services, operating in the same jurisdictions. Where do we stand on clarity and how much does it matter for you? So it's very funny. Again, this is like a weirdly perfectly timed conversation.
Starting point is 00:11:50 And you would never have known this, but I got back home into New York at 2 a.m. yesterday. I was in Washington, D.C. last night. And, you know, I had a chance to, you know, I chatted with Thune. I chatted with Bozeman. I chatted with, you know, a few other senators just briefly at an event that I was at. And I think the general consensus is we'll get there. We'll get to a solution. I'm not worried about that, right?
Starting point is 00:12:14 From the MoonPay perspective, you know, like we're slightly different than Coinbase in that for us, the two most important issues for clarity to move forward, right, is the definition of defy, right? Like we ultimately are saying to people regulate us, right, the intermediaries and the on ramps, right? And you think about it, like, what do we do for a living? like we're our moat is removing the friction and democratizing access to the defy ecosystem don't regulate the protocols or the developers right that will burden them right the second thing is is where our view is is a very strong illicit finance view right like make sure that you know you're not allowing bad actors into the ecosystem and so like those two things for us work really nicely in the current bill structure as it relates to yield right um how
Starting point is 00:13:11 how it is written where like you could monetize, you know, based on the movement of the value, not sort of the sitting of the value. That's okay with us as Moonpay, right? Like that's not our business to argue over sitting versus moving because ultimately, like, we're a membrane that allows people to enter into the defy ecosystem. Like our goal is to democratize access. And then once the access goes in, we push out and allow the movement of the value to sort of proliferate there. And so we are slightly different than Coinbase. I respect to sort of their
Starting point is 00:13:45 position given what they have to achieve. But I think that I think we're going to have a solution. You know, this, this to me seems like I was a government major in college, Scott, with a focus on American politics history theory. This seems perfectly right for a solution. Everyone is somewhat upset somewhere, right? So that that seems to be the path forward. anthropology major so I too can talk about how useless by college education is listen I my view of college education if we're going to go down this path is I love I can't stand when people say college is not valuable I hate that that colleges like I burden people with insane debts which are crazy but college is wonderful
Starting point is 00:14:34 for the process of teaching you how to think right so you learn how to think and you learn how to be a, you know, a human being interacting with other human beings. 100%. And I think, you know, I think that those are the two areas. Now, there are tons of majors that are totally useless, right? Let's not, let's not kid ourselves. But like, as long as the major teaches you how to think and process a lot of information, like I see a lot of value in it. Yeah. I get roasted for mine all the time because I went to Penn, but I didn't go to Wharton, but I once said to somebody that I took economics of Wharton, because if you take a business class at Penn, you're taking that class at Wharton. And so then people said that I was claiming I went to Wharton when I didn't go to
Starting point is 00:15:18 Wharton, even I'm very proud of my Indiana Jones major. And I got like canceled on the internet by the Wharton, Whartonites. Huh, you know, the first college I ever saw in my entire life, neither of my parents went to college. The first college I ever saw my entire life was UPenn. I loved it. I thought it was gorgeous, but it left me in a city and I needed to get out of the city, right? It was a rugged place when I went there in the 90s.
Starting point is 00:15:43 The whole, I know we have diverted horribly here, but the whole conversation when you went on the tour of Penn in the 90s was where the security blue light phones were. Hold on, I vividly remember that I'm like, what's a blue light phone? They're like, they're not to tell you about my classes. I can tell you how you can call the cops
Starting point is 00:16:01 from any block. entire campus. I'm like, this seems so safe. I'm like, Billy's gorgeous, right? I watched the Rocky movie. Not that part. So we have a lot more to talk about, but I actually want to kind of shift towards mainstream adoption and the announcement that you guys specifically had because this one is very near and dear to my heart. And when I saw it, it was awesome. X games unveils four franchises, Moon Pay as name partner in Move to League. So first of all, I want you to unpack what this means for Moon Pay. But for me, you don't know this. But in
Starting point is 00:16:33 that 2000, 2001, that error, I actually worked with the X-Games. I was DJing at the events. And my friend and I decided we had a business idea where we were going to sell programs at the X-Games because they didn't have them. And we had a private business where they allowed us the licensing to sell the programs. We lost a shit ton of money. It was a horrible business idea. But I went to all the X-Games in Aspen and they were in Philadelphia in those years when I was just after Penn. So I did a lot of stuff with the athletes and the X-Games. And I think it's the coolest thing. But getting rid of the X games as we know it, right? And it's all powered by Moon Pay. So, so first up, let me step back for a second. How old are you? I have no clue.
Starting point is 00:17:14 I'm 49 years young. No. So I'm biological age is 36, according to my. Okay. So I'm 46, but I will say that my biological age is probably like 98, right? But like you and I, like, okay, so I, the reason I asked you this is you and I grew up with the X games, right? And I love the X games, right? You have Bob Burnquest, you have Tony Hawk, you have Sean White. Like, these are people who like, like, it was extreme sports entertainment for me, like growing up where I, like, I still get chills when I think about this. So about six months ago, our head of comms, Julia Morella, and our head of social. Sean Friedland came to me and they're like, listen, don't say no.
Starting point is 00:18:07 Listen to me for one second. We have something really interesting. That's how my kids start talking about. Totally, right? They're like, don't say no. We have something very interesting. And so I'm like, okay. And they're like, the X Games has a new ownership.
Starting point is 00:18:22 The CEO is a guy named Jeremy Bloom. He's a former Olympic athlete X Games competitor. And he has a vision. with his team to move it from sort of events to a league and to give it foundational structure for, you know, the athletes to be able to make money, right, and to have a living. Like, you know this, that most of the X-game athletes competed when you and I were growing up for the passion of this sport, right? Not, not, like, they competed because they actually just loved skateboarding or they loved
Starting point is 00:19:02 the jumps or they loved the half pipe. They didn't get millions of dollars. There were some that made the money. And so they said there's this new vision for this. They knew how much I liked sort of any endeavor where it sort of can support the contributors the way that like I did with time pieces back in the day. And so we sat down with the X games. And this is where I guess like my 20 plus years in media sort of came out.
Starting point is 00:19:31 And I sat down with them and I said, look, like, I love the vision of where you're taking it. But for us as MoonPay, for it to be valuable, I need two things. One is I want the X games, if you're going to evolve it into a league to become the MoonPay X Games league. Right. And the reason is with that logo lockup, like, we'll start to build with you as you start to build as well. Right. Like, we'll commit in that sense. The second is going back to our earlier conversation about clarity, not to be so dorky and
Starting point is 00:20:06 like tie clarity back into X games. But what does MoonPay do? It democratizes access to sort of defy. And so what is part of our strategy? It's how do we build out every offering for our partners? So all our partners have to do is ultimately, you know, develop a great product, right? So like what think about what our go-to-market strategy has been. It's been partner with Moonpan on Ramper, right, which is the aggregator that we have a
Starting point is 00:20:34 majority position in. That gives you global coverage and redundancy. We then, because if you're defy, you can't technically own your PII, you can't have the personal information of your consumer. We have that personal information. We have a 40-person award-winning creative agency with other life in Canada, right? They do everything for MasterCard. They do everything for all of our partners.
Starting point is 00:20:58 We'll do all of your marketing for you, and then we'll start to distribute you. This is why we partnered with Nelp boys. This is why we partnered with, you know, you know, Theo Vaughn. This is why we partnered with Fortune. This is why we partnered with, you know, Pomp. This is why we have the conversations with you even, right? Like, it's like we put our partners into these ecosystems, but in the case of, you know, the X games, we could now essentially bring all of our partners into the X games.
Starting point is 00:21:28 So we have passed through rights on almost everything. So as we build out sort of our go-to-market strategy with the X-Games, it's doing it with all of our partners in mind and how the entire crypto ecosystem can show up at the X-Games. And so it'll kick off in March with a draft. They already have 180, I think, athletes who have gone in and their four teams, New York, L.A., San Paolo, and Tokyo. From there, it will have an X games in Sacramento, followed by Tokyo, followed by New Orleans.
Starting point is 00:22:02 Then there'll be a winter draft, and it will go out, and we've partnered with them for the next few years. Sounds like F1. Yes, except it's not, like I loved F1. My problem with F1 was it's logo soup everywhere, right? And like for someone like Moon Pay, I can't break out or show an R all. why and then this one. Oh, we need 17 logos on the wing of each car. 75 on the car.
Starting point is 00:22:28 It's up. But I'm just saying structurally, it's how you have a team that travels from event to event to event to event. We need a Netflix show when Netflix. So maybe that's happening. Maybe that's not. But I will say that it is very much like F1. And the team that acquired the X games in this change of ownership actually came from the
Starting point is 00:22:52 McLaren team in F1. Really? Yeah. That's awesome. Yeah, I did a lot of stuff with them via OKX for. I mean, I will say like F1, if you haven't been to an F1 sort of event, is amazing. Like I was in Austin and I will say when they, when those cars go by you, if you like technology, it's an amazing. It's amazing.
Starting point is 00:23:17 For me, like, what are the X games ultimately? And I think you'd agree with this, right? Like the X games are counterculture to sports, the same way that crypto is counterculture to finance, right? So it's like the alignment is an absolutely beautiful alignment. Yeah, I agree. And I'm not going to say I'm jealous or anything or that it's weird that I wasn't invited, but I did see pictures of Jeremy with Justin Bieber and Gunna in what I presume to be the moon pay box at the bottom of the half pipe in Aspen this week. So we had nothing at Aspen.
Starting point is 00:23:48 Like, Aspen, like all of the sort of exposure at Aspen. that Moonpay had was the X-Games team just being so lovely and like overly, like, generous in terms of like the partnership. And by the way, we reciprocated. I don't know if you saw Mark McMaris. Like we doubled his prize money and paid him in crypto, right? And like he's great, you know, like after he won gold, we want to make sure that like we took care of him from that perspective.
Starting point is 00:24:14 But Scott, you're invited to any X-Games event you want. Like, we have unlimited tickets. Okay. So if you want to come with your family out. Hold on, breaking news. Like, if you want to come
Starting point is 00:24:24 with your fam, you can literally just send me a note. We'll make sure that you get to anyone you want. Okay? So down. Yeah,
Starting point is 00:24:32 I was there when Corey Hart tried the first backflip. I was like right there and he crashed 20 feet in front of me and his body. I turned to Ivan one of the days
Starting point is 00:24:44 when we were watching it and I said, it's sort of like living in a video game. It's that wild. Like, and it's, It's sort of if you go to a hockey event, right?
Starting point is 00:24:53 Like, if you go to hockey games, hockey games just feel different. Like X-Games just feels different. I think Corey Hart, I got my sunglasses at night. Carry Hart, but he was, like, dating pink at the time or something when she was just, yeah. Anyway, yeah, it was, you know, crazy, crazy times back then. I mean, circling back then, is this,
Starting point is 00:25:13 do you think the partnerships like this could be one of the catalyst that kind of brings back the mainstream interest once again? And it feels like we're in this dead period where nobody cares about us. It's weird because we have more adoption than ever before. Yeah. Look, I find, because I've been in crypto now full time for three years, right? It's such an interesting sort of space. For the first two years that I was in crypto, every single one of my friends thought I was
Starting point is 00:25:45 insane for why did I leave media and come into crypto? Then all of a sudden in year three, every one of them was like, oh, I get it. And now, like, I feel like I'm insane again is what they tell me. And I'm beginning to think that if you are considering a career in crypto, you have to get comfortable with the fact that it is, the trajectory is a few years of being a fucking idiot to then be followed by being a genius, to be followed by being a fucking idiot again. We only get to be a genius for like six months. Right. But I think, like, I think, and I think that's just as marketing. that's just as much marketing as the digital gold Bitcoin problem is, right?
Starting point is 00:26:23 But that's what crypto careers feel like. If Bitcoin was $120,000 today, this show would have eight to nine times more people watching. The news could be exactly the same. Everything could be exactly the same. We saw, I think it was Ben Cowan. He posted something or told us that there was only 500. I don't want to misquote it. Some absurd number.
Starting point is 00:26:48 like 500,000 views on all crypto channels combined on YouTube in like a month or a week. It must have been a week. But which used to be just like millions and millions and millions, we can tell you anecdotally, we see it in the data. Not only do less people show up, but the algorithm does not feed crypto-related content to people anymore because they're obviously not going to engage with it. I mean, let's be fair. Like grandma in Nebraska who's watching a Mr. V's video, I don't know if grandma in Nebraska
Starting point is 00:27:15 to watch that, but she's not going to watch a crypto video if it pops up in her feed, but she may have a year ago. Right. So here's where I would say, like, my background in media actually, like, is important in this regard to this partnership. If you understand how the algorithms work, right, by having Moon Pay in the title sponsorship, I'll always get scraped off of the organic search and the algos as it relates to X games content and the extreme sports, not just crypto. Right. And so like these are small, subtle things, but like you do have to think about as you're building out a brand, right? And as we are looking at Moonpay moving from sort of the crypto ecosystem where it's very well known to a more mainstream ecosystem where it may not be as well known. Like these are small things, but important things that you have to think about as you grow the brand. Yeah. So to be clear, you'll never, at least for the next three years, you'll never just hear X games again. It'll be Moonpay X games. It's the Moonpay X games. 100%. Yeah, that's epic. Like, you know, even with the F1 comparison, you don't have the American Express F Formula One, right?
Starting point is 00:28:23 And you certainly don't have like the McDonald's NFL, although you should. You obviously. Exactly, right? And, you know, like I just, I didn't see another opportunity out there that would afford us like that type of level of exposure. And with a audience that I think is so beautiful. beautifully organic. I've never, first, on a personal level, I was so pumped just being there. It was so much fun. It's so fun. I would, I would, from going back to the media world, like, I gave the example of the X-Games is very much like the American Girl Doll franchise. And I don't know if you know the business model of the American Girl Doll franchise, but the American Girl Doll franchise essentially targets women roughly our age, Scott, because like they came out at that time and they had it.
Starting point is 00:29:14 they're now moms, right? And it also targets the next generation, right? And so when you think about the next generation and you think about media consumption today, right? Like media consumption is actually a very easy thing when you break it down. It's just people skim content. They dip into content where they do a deep dive into content. And content is either informative, insightful, or entertaining. So it's just a nine box. The X games hits all of those things, right, especially in the entertainment front. But like the content is made for social distribution, right? So like it will hit that next generation who just wants to see the clip of the extreme moment.
Starting point is 00:29:52 If you want to go into one event, it could dip into that event. Or if you want to watch the whole thing, you could do a deep dive into the whole thing, right? And so it hits different generations based on consumption patterns. And like you could then build narratives off the athletes. You could build narratives off the leagues. And so dips outside of just pure entertainment into information and insights. I feel like Moon Pay, Melker, Metal, Morning Show. That's an amazing alliteration.
Starting point is 00:30:23 I really, it's an amazing alliteration. I like this. I'm just saying, like, if you need four M's all together. We can get McDonald's in there if you want. I don't think we need them. But I think that we can. By the way, like American Girl Dolls, I was so annoyed when we were buying, bought one for my daughter years ago.
Starting point is 00:30:41 But then I found out about Labuboos and I would kill for American girl dolls to come back because Labuboos, spending money on those is the dumbest thing I've ever done in my life. I hear you infinitely. You know, like the one thing, I have a 12-year-old daughter. The one thing I will say for any person listening to the show that has kids roughly in that age range, as a parent, you spend an insane amount of money only. for one day to wake up and to find out that
Starting point is 00:31:12 their consumption pattern has changed 180 degrees. And like everything is a sunk cost lost investment. Right. Now, with Lubbibus, I don't get this one at all because I think that they are just ugly. The American girl dolls
Starting point is 00:31:29 are fascinating because like they land you on the doll and then they expand you on like all the accessories. She's got to be a gymnast. It's like, you have a scooter. Like you have a haircut. She needs to get her nails done. She needs to get her ears pierced, right?
Starting point is 00:31:45 Like it's one of the most fascinating franchises, right? And I will say that a lot of the conversations I've had with Jeremy, the CEO of X games, has been like, I see X games very much as like American Girl doll franchise, which is it'll hit the people like you and I who grew up with it. And then it will hit the new generation very well. And I can't wait. to think about all of the ways in which we could bring in the ecosystem and expand. When your kid is obsessed with a food when they're young,
Starting point is 00:32:17 the day that you go to like Costco and buy that food and mouse, they mask, they tell you it's disgusting and never eat it again. It's the wild on it, right? By the way, like if any of these, if any of these places like Robux, Robux, like actually moved over to digital currencies, like they would make a killing off of parents who,
Starting point is 00:32:38 would after the kid turns off to the experience could go in and resell all of the digital assets that the kids sort of accumulated. Like I would be in there like reselling just to try and recoup every dollar lost on like this crazy sort of passion thing that my kid had for, you know, six months. I mean, I guess I can't, we had troll dolls, right? So I can't, no pun intended, troll them that hard. We had a lot of stupid toys, I guess. Right too. Although all I really remember is shooting G. I joe guys with rubber bands. Dude, I've kept you over time. I'm really sorry. Keith has to go.
Starting point is 00:33:14 He has to go. I didn't talk about all the crypto stuff. We talked about troll dolls, the boo-boos, and the X-Games, but I had a lot more fun doing it than I'd have to talk about the Clarity Act. Thank you for having me, Scott. It's always a pleasure.
Starting point is 00:33:26 You know, I'm a huge fan of you and everything you do for the ecosystem. So thank you, thank you, thank you. And same to you. And Keith, we're going to have to get you back on more properly with more time to dig deeper into the rest of these conversations. Awesome.
Starting point is 00:33:38 All right, everybody, give Keith a follow. Check out the MoonPayX games and MoonPay in general. And we will see you tomorrow. Later, guys. Bye.

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