The Wolf Of All Streets - Top 5 Crypto News Stories | The Week In Review

Episode Date: October 28, 2022

I review the top 5 news of the week in crypto: 1) Bitcoin miner Core Scientific stock is down 97%, 2) Crypto suddenly went up this week 3) Elon Musk's Twitter acquisition 4) The crash of Meta 5) Reddit NFTs ►► JOIN THE FREE WOLF DEN NEWSLETTER https://www.getrevue.co/profile/TheWolfDen  GET UP TO A $8,000 BONUS IN USDT AND TRADE ALL SPOT PAIRS ON BITGET FOR ZERO FEES! ►► https://thewolfofallstreets.info/bitget   Follow Scott Melker: Twitter: https://twitter.com/scottmelker  Facebook: https://www.facebook.com/wolfofallstreets   Web: https://www.thewolfofallstreets.io  Spotify: https://spoti.fi/30N5FDe  Apple podcast: https://apple.co/3FASB2c  #Bitcoin #Crypto #Trading The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.

Bitcoin miner core scientific stock is down 97% on the year and they're potentially declaring bankruptcy, meaning that this time maybe Bitcoin's hash rate being an all-time high is not necessarily good news. The second story we have is that crypto is going up. Number three, Twitter deal, the bird is free. Number four, tech earnings. Slaughterhouse-Five at Amazon and, of course, Meta. And then finally, the success of Reddit's massive NFT sales. As I told you on Fridays now, we are going to do a week in review the top five stories of the week. Those are them. We're going to talk about those stories and share all the relevant charts and data. You guys don't want to miss it. New format. Let's go. What is up, everybody? I'm Scott Melker, also known as the Wolf of All Streets. Before we Let's go. from Def Leppard, onto the like button. Remember that guy? Everybody loved that guy. Everybody loved that guy. As I mentioned, guys, here we are on Friday. Usually a bit of a down day for traffic. Everybody's kind of getting ready for the weekend. Halloween this weekend, big weekend in the United States.

One of the most fun party weekends that we have. And so on Fridays now, we are going to be covering all of the main news stories of the week because we're probably not going to do all of the news every single day. The new cadence, Monday's macro, Tuesday's with traders and charts. We had big cheds this week. On the Monday macro next week, Mike McGlone. On the Tuesday for traders next week will be Christopher Inks. Wednesday, we're going to do on-chain analysis. I'm going to bring on experts in that so that I and you can both learn more

about how on-chain moves the market. Thursday is, of course, the round table. I hope you didn't miss yesterday's. And then Friday, the news review. That's what we're going to do. That's what we are going to do. As you know, guys, my newsletter is sponsored by BitGet. Well, they've stepped in

and they're going to sponsor some of my YouTube streams as well. You can see it right down there. Sign up for BitGet and get up to an $8,000 bonus. Of course, you have to deposit a whole bunch of money to get $8,000. Don't think that you're just going to go in there and get $8,000 for free, but they're also running a special promotion

through next Friday. If you deposit a hundred bucks, you get 20 bucks for free. If you deposit over a thousand bucks, you get a hundred bucks for free. Pretty straightforward and simple. You can sign up down below with the link, of course, on BitGet spot trading, which is what I recommend. You know, I don't recommend leverage unless you're a pro. Spot trading there now has absolutely zero fees. If you do trade with leverage, it's a 15% discount on the fees. Now, I don't know if you saw, we didn't report it here, but they just did a sponsorship deal with Lionel Messi.

Crazy. So now they've got Juventus and Messi all working with them. Good enough for Messi. Good enough for me. Without further ado, let's get into those five key news stories that I've determined are actually important for the week. Some of them crypto related, some of them not so much. The first one, which I think has gone wildly underreported and perhaps the biggest story of the week, I wrote about it in the newsletter. Two days ago, I wrote about hash rate and the problems with

raising hash rate, even though everyone says, you know, hash rate being an all-time high, it's so bullish, yay for the network. I literally two days ago wrote a whole thing about how maybe not. And I predicted that we would likely see a major miner or more go under and we could potentially see contagion in the mining space. I didn't expect it to take all of two days for news like that to break, but that is what happened here. Bitcoin miner core scientific shares plummet after bankruptcy warning. About 75% in one day they plummeted. And down 97% since their all-time high, which I believe was last November. As you can see here,

pretty savage chart. Trading at $14.32 last November, currently trading at a whopping 22 cents, down 98%. So hey, there may not be much volatility in the Bitcoin market right now, but holy crow. Holy crow. That was a mix between crow and crap. Holy crap. They are getting absolutely slaughtered when you look at the miners down 98%. Their market cap has fallen to 90 million. At the top, it was $4.3 billion valuation for the company. And they said that holders of the common stock could suffer a total loss of their investment if they declare bankruptcy. This rings familiar bells if you guys have been a part of Voyager, Celsius, etc. What's going on there?

So why is this happening? Why are they getting slaughtered? Why are they potentially going out of business? Number one is obviously the price of Bitcoin, right? 69,000 November of 2021, when not coincidentally, their stock was at an all-time high. Well, now it's at 20,500. So that's a big, big deal. Also, there's greater competition among miners. As I said in the newsletter, there's this massive wave of people coming in. Last year when mining was extremely profitable, everybody started to mine, myself included, and was making a ton of money. But that makes more competition, increases hash rate, and makes it less profitable. And then, of course, energy costs, right? These companies generally

have miners all over the world. They're based in Austin, Texas. And so the massive increase in energy costs has just wiped profitability completely on top of all those things. But the second one that's going kind of unnoticed is litigation with Celsius Networks LLC and its affiliates. So if we thought that the contagion was over from Celsius, clearly there are still some skeletons in the closet. As I said in the newsletter this morning, those skeletons look a hell of a lot like, I don't know, Mashinsky and Suzu and Doquan and Kyle Davies. Some fucked up skeletons, right? So we're still seeing some contagion there. And if Core Scientific falls, it begs the question of what will happen to the rest of the mining industry. I'm not that concerned. Listen, this could be the thing. A lot of people have pointed to like a 17,000 price. It would be minor capitulation. We'd have big sell-off from miners. Maybe that's the big bounce that we need after that. And we go up.

But generally, if there's massive competition, if a miner goes out of business, another one just steps in to fill the gap. I mean, listen, China removed 50% of the hash rate from the Bitcoin network last summer. And the Bitcoin network just kept on humming removed 50% of the hash rate from the Bitcoin network last summer, and the Bitcoin network just kept on humming along. Listen, high hash rate means more security for the network, but right now mining is just massively unprofitable, and you have to have a huge reserve to be able to survive, or you got to sell off your Bitcoin and potentially your equipment, but nobody wants to buy equipment because there's so many miners.

Another huge contributing factor in the problem, which I talked about two days ago, is the fact that all of these companies in the bull market, the huge miners, put in massive, massive orders for six months or a year down the road for mining rigs. And when those are delivered, you have to plug them in. So we've seen this massive plug-in by the huge miners of all this new equipment with the market now at a third of the price of what it was when they probably purchased them. Not so great. Not ideal. Not ideal. Yeah. I see some comments here. We'll go back through those sort of at the end. But that's what's going on with Core Scientific. That is what's going on with the mining space. Here is a live listen

to Core Scientific investors showing up at the office door now that they might declare Chapter 11 bankruptcy. I want my $2. Yeah, that was them. That was them. You guys may have noticed that I heavily memed my way through the newsletter this morning. If you guys read it, of course you read it because you can't be here without reading it. Yeah, I woke up. I was like, wow, a lot of bad news. I might as well make some jokes. As Fibble Swanee here says, need miners to create a home heater that mines.

We just need to use them as heaters at this point. Just need to use them as heaters and skip the part where we even mine Bitcoin with them. Of course, the next story, which I don't have an article for, it's just that we've seen the crypto market go up. Bitcoin broke above 20,000 last I checked holding there. And Ethereum was up even more, about 15%, 20% yesterday. Obviously, we've seen the market sort of flatten out. Let's take a look at those charts really quick, Bitcoin and Ethereum, because that's the story. Obviously, we've seen the market sort of flatten out. Let's take a look at those charts really quick, Bitcoin and Ethereum, because that's the story. Listen, I've shared this monthly chart with you maybe a million times, probably literally since like here, probably 2019. Over two years,

I've been sharing this chart. Problem is, I was using it in the bull market and I was wrong. What I would have pointed out to you with this chart before that proved to be untrue was that we had low, high, high or low, high or high, perfect touches. This one broke a little. Low, that one was almost exact. You would have thought that would take us to the top of the channel. And every single time, the mid-range, the EQ of this channel, that dotted line, that's the equilibrium, 50% of the channel. Every time it was broken, you visited the top or the bottom. Here it broke up, visit the top. Here it broke down, visit the bottom. Here it broke up, retested, visit the top. Here it broke down, retested, visit the bottom. Here it broke up. We expected that 200,000 something type number when

it went to the top. Instead, it broke down and has now visited the bottom. But if ever there was going to be a poetic and perfect moment for Bitcoin to bounce, it would be on the bottom key support of an ascending channel that's been in existence since 2013. Enjoy that. The weekly chart, of course, we have this MACD crossover that I told you about, the histogram growing. But really, guys, we're still just chopping sideways. I'm sorry. And we have a potential death cross coming on the weekly chart between the 50 and 200, nothing guaranteed there. I'll show you later how we had that on the meta chart in advance of this massive, massive dip. Of course, here on the daily, listen, guys, I had identified 20,469 as a good place for a bounce.

Okay, it went to 20,000. Within 400 bucks, it's important to remember when we talk about lines that they are areas, areas. We're better off just drawing zones than drawing exact lines because then you don't freak out. But yeah, if this continues to drop, we have this support here where that hasn't been retested, the descending line, of course, the 2017 high at 19,666. And of course, the now ascending 50 MA has curled up. up there's a lot of support below this move but i'm still looking for something you know which i was looking for here like that maybe we visit 22 to 23 000 and then reassess not that exciting but yeah of course the bollinger bands it got extremely tight i showed you how last time they were this tight in 2020. I showed this in the newsletter in July.

We had a tightening just like this. And then the bands expand massively to the upside. You get above them. You come back into the top and you continue up. We can go look at that move in July of 2020. If you're wondering, this is it right here. This is the last time that, excuse me, this is it right here. The last time the bands were that tight, extremely tight. You get up, you close back down inside. And then the bands, as they expand, you follow it up. That's what we're looking for here if we do get that bigger move to the upside. Sexy. Of course, we need to take a look at Ethereum, too, because as mentioned, Ethereum just destroying Bitcoin. Bullish divergence, breakout retest. I talked about this multiple times this week. Now I'd be looking at this zone as a key support if you do get a drop. But right now, all of these things, I mean, take a look at the four hour. That's kind of toppy. But when you look at it daily, it does look like this could be potentially forming some kind of bull flag. Maybe you get a flag, tap down into there, and we come up into this area to much higher targets. Of course, Ethereum USD looking exactly the same.

I would say that we should be getting a move up to this 1800-ish area, or even just maybe the 200 MA right there, which would be a bit lower by the time it gets there. And then we reassess. But listen, when we break out of the Bollinger Bands, when they're that tight, and it's clear which side they're going to with volume, it should continue expanding and going up. So that was the second story of the day. Obviously, the bullishness in the crypto market, which has been somewhat uncorrelated and detached. Jeff Biaco would like you to know he has tight IT bands. He has to stretch it every morning. It's extremely painful when you use a roller on your IT bands, like extremely, extremely, extremely painful. And I see people mentioning Doge.

You know what? Let's bring up Doge as well, because obviously, which will lead us into our next piece of news. Elon Musk has taken over Twitter. We're going to get into that. Doge right now popping right into that resistance I told you about. Not interested under $0.09, $0.0875. It's right there, right? So listen, what I would be looking for if you're actually interested in doge

is a flip of that and maybe a move up to around 16 cents or it could be a little higher right 16 to 18 cents something like that but yeah major bullishness in doge for very obvious reason the obvious reason is that elon musk closed deal to acquire twitter fires tops execs. This dude rolled into Twitter like this, rolled into Twitter like this. He literally walked into Twitter. By the way, he looks skinnier, less pale and younger in all the videos and pictures right now so maybe he got triggered by the fact that someone said he was fat on a yacht and got his ass in shape or we're getting deep faked left or i don't know but he literally rolled in with the kitchen sink not everything but the kitchen sink but only the kitchen sink just so that he can meme a joke that said walking

into twitter let that sink in guy's a legend guy's a legend but apparently i'm not kidding he rolled around the office like a scene from office space walked into random people's offices and was like, hey, bro, what do you do? What's your job? What's your job here? What do you do? You know? I mean, can you imagine like this dude rolls into your office and he's Elon Musk and you're just like some intern or something and he says, hey, man, what do you do? What do you do? Listen, I don't know if you saw this. I'm going to bring this over here. I've shared this in the newsletter this morning. Hopefully you can see it. Let me share right here. He said this is an actual text exchange between him and the CEO not long ago. This is when he tweeted Twitter's dying and took a poll

and whatever. Parag went on this entire rant to him about you're not being productive, you can help us. And Elon Musk's response simply was, what did you get done this week? Treated him literally like an unpaid intern. Treated him like an unpaid intern. And apparently he did that in the whole office. Here's what I was referring to with office space, right? He brings these two guys in. So what exactly is your role here?

But apparently he's not going to keep firing people except for, I don't know, all the really important people at the company. He fired the CEO, I think the CFO, the COO, fired the dude that banned Trump, basically fired everybody. You lose a job and you lose a job and you lose a job, right? Rolled in there, just fired literally everyone he can find, but not cutting 75% of jobs. But not so bad for CEO Agarwal. You'll remember, obviously, that Elon Musk not so long ago, not Elon Musk, Jack Dorsey, stepped down to focus on Bitcoin-related ventures. And Parag Agarwal became the CEO.

Well, part of this deal, Parag, I keep saying Parag, Parag Agarwal is getting all of his unvested shares in their entirety at once, which amounts to $42 million for getting fired from a job that he only had for a few months. Not that bad, if you ask me. That's a pretty good deal. That is a pretty good deal. But this is apparently how he rolled into the office, right? Like this. Jesse, how have you been? I've been great. I'm back and you're fired. Hello, all. No need to run. Your fates have already been sealed. Here's

Hello. Nice to see you. Who's your best client? Um, where are you, Davies? I'm already packing to save myself the indignity. That's too bad. Pretty good. Pretty good, right? Pretty good. And listen, it wasn't just Elon Musk that bought Twitter. Nope.

It wasn't just Elon Musk. Binance's CZ confirms participating as equity investor in Musk's Twitter takeover. 500 million. I love the best part was that he casually said, I got to find it. But I think he believed, I believe he said specifically that he had his intern or his assistant wire $500 million two days ago to Elon Musk for this deal. But yeah, Binance officially a partial owner of Twitter. Listen, I think that we can all get behind this. I think that it's going to be very good for Twitter, for crypto specifically, because, hey, man, can't get worse.

I get 475 bot complaints, bots responding to everything with like seven likes. I used to get a thousand likes on a tweet. Now I get like 70 likes and 400 bot responses. Clearly the algorithm crushing crypto accounts. Funny thing was there was an account called Cat Turd or something today that has the same amount of followers as me and wrote to Elon Musk. First day of Elon Musk, I'm shadow banned, ghost banned, something banned, and I'm losing followers every day. I want to see it. And Musk actually responded. I'm looking into this. So I looked at this guy, Cat Turd's account,

the same amount of followers as me, literally has like 4,000 to 6,000 likes on every single one of his tweets. Guy literally just farming for engagement, clearly not shadow banned, ghost banned, or any kind of banned, but got Elon Musk to respond to him. But when you look at those metrics and you look at crypto accounts that have 800,000, a million, 1.5 million followers and getting 100 likes on a tweet, It's very clear that something needs to change and that there is a strong bias towards us. Things Musk says he's going to do, going to get rid of lifetime bans. So I guess welcome back, Trump.

Plans to triple revenues. So do I. Cool. Tell me how. It's like the old South Park. Number one, plan to triple revenues. Number two, question mark. Number three, profit.

And he wants to ensure free speech on the social network. That's something I'm sure that we can all get behind. The next obvious story, which is not specific to crypto. Obviously, we're having US futures dropping today largely because Amazon got fucking crushed after hours. Amazon got crushed. And we know what happened to Meta two days ago. We'll talk about Amazon in a minute.

But Meta's value has plunged by $700 billion. Wall Street calls it a train wreck. Mark Zuckerberg alone in the last few months has lost over $100 billion of his net worth, which is the most by far any individual has ever lost on their network publicly. And why is Meta getting absolutely crushed? Because they're Meta and not Facebook.

Mark Zuckerberg has basically turned into like a experimental VC with one of the largest companies in the world, just spending money on VR, Oculus, goggles, and legless people in the Metaverse. They lost $9 billion on the Metaverse VC and VR division already this year, over $3 billion of that being in the last quarter. And he still doesn't have legs. You'd think you would buy legs for the extra $3 billion, right? I mean, it's pretty wild what's happening to meta and even wilder that people still bitch about Bitcoin.

This is the second time we've seen meta drop like 20, 30% in a matter of minutes after hours. And what's happening after hours? Jack shit, because retail in general does not have access to the market after hours. All you can do is watch and cry. This is what the meta chart looks like on the weekly. It must be actually be up a little bit today. Look at that. A little abandoned baby down there. A little massive gap down in this kind of funky little dragonfly type candle. Well, that's not the upside down. Excuse me. I mean, that could head up, right? We should see some relief. But look at that. Look at this weekly volume. It's going to be one of the weekly, biggest weekly volume candle we've seen on Facebook since 2014, breaking key support of one hundred and twenty three dollars, which was the low in 2018.

Absolute destruction in the Zuckerverse. He needs to go live in the metaverse where they don't trade his stock. Oh, my God. Absolutely getting raped. And you may have seen that there was a video that was like some girl was like a product manager at Meta was like an average Wednesday for me at Meta. And it was literally just her drinking coffee, getting drunk, going to the gym and hanging out with her friends. At no point was she like, I'm going to fucking work. She was literally like taking pictures on the roof. She was like, check out our rooftop where I have lunch and don't do work.

Yeah. I mean, I would actually think that Meta is going to fly here, right? I can see Texas West Capitol right here. Bullish weekly divergence in oversold. Yeah. I mean, I would actually think the meta is going to fly here, right? I can see Texas West Capital right here. Bullish weekly divergence in oversold. Yeah. I mean, this thing's going to bounce. Doesn't mean you want to be invested in it. But Amazon, a little surprising, right? Amazon stock is crashing after earnings buy the dip or stay away. AWS margins are shrinking and operating losses are getting worse in e-commerce. Temporary challenges are permanent problems. I say temporary challenges largely because of supply issues and inflation and such, but like Amazon stock. Amazon stock, this is what the daily looks like. Yet again, we had not broken. You can see it closing down there, opening down there. We had not broken

below. Well, now it's $102. There was a split. We're talking about July of 2018. And even all of these dips, you know, like all this pain, all then we finally broke above in 2020 has not closed the candle below that in this whole time. Maybe this candle will also jump back above, but none of these even daily candles, except for slightly here, have closed below that level. This is a big deal. This is Amazon. Amazon down 20% in 10 minutes after hours, and people are still talking shit about our coins. It is crap. Yeah, this is the ultimate prime day sale. Fibbo Swanee says prime day sale. I mean, I'm buying Amazon. I'm buying Amazon. I'm buying Amazon.

Christopher Walker defending the employee saying, dude, it was her being cute. Yeah, she said she was being cute, cute on the roof. That's what she was doing. She's being cute. These look like screaming buys to me. I'm going to be honest, but that's not financial advice and whatever. Oh, Kevin's here. What up, Kevin? Kevin is the mastermind genius of my production when my production actually looks really good on site. He shot Bitcoin Miami, Consensus, and then we flew him into Vegas literally in like 12 hours. He's like, I'm coming, bro, because the production was fucked up and he had to cancel it. He is a production god. If ever you guys need any production, Kevin is your product. He's seven people, but he's one guy. Shows up with like nine cameras.

He's like, what's up, bro? Sets him up and he's like doing buttons and live streaming stuff. Absolute legend. Good to see you, Kevin. Welcome. Welcome. So yeah, guys, I mean, clearly the story here is that tech earnings have been really fucked up driving the market down. But what the bigger story is that Bitcoin went up during that time, right? I showed you. There's no correlation right now between Bitcoin and tech stocks. And that was the thing we've been talking about for like, I don't know, the last six

or seven months. Kind of a big deal. Kind of a big deal. Right? So we're going to see how the day closes out, how the week closes out. Maybe Amazon can close above 102.53, and this ends up being sort of a sweep of these lows right here. That would be kind of epic. That would be kind of epic. But right now, it's just crazy to see how bad these are getting absolutely smoked. Absolutely smoked. And you know who's really getting smoked? Well, we've talked about it a lot. I don't have anything against Jim Cramer, but obviously,

there's a Jim Cramer inverse ETF being proposed where you can just buy one thing and counter trade all of his calls. Well, he's been a massive, massive meta Facebook bull bull so much so that this little girl cried on national tv he cried what did i get wrong i i trusted them not myself for that i regret i've been in this business for 40 years, and I did a bad job. I'm not proud. You're not proud. You're not. I did a bad job. It was bad.

It was bad. He's going to go like, he's probably like Chuck Rhodes. He's going to go to the dominatrix, and he's probably a cuckold, you know? Show up, let her beat him. I've been bad. I've been a bad boy. Mark Zuckerberg, he's gonna call up Zuckerberg

and Zuckerberg is gonna whip him in the 50 shades of gray chamber down in the basement. Nothing gets Kramer but dude, like all a lot of your calls are bad. Like who is this really the one that finally put you over the put you over the edge? Dude, I'm not great. I'm not great i'm not crying you're crying let's watch that again it's a i wish we had the whole clip but i mean what did i get wrong i i trusted them not myself for that i regret it okay i've been in this business for 40 years and I did a bad job. I'm not proud.

I'm not proud. He's not the only one. A lot of people have been bullish obviously on Facebook meta. I thought it would bounce. But man. That was hard to watch. Hard to watch. You guys want to watch it? Should we watch it again?

We'll watch it again later bro it's brutal though it's brutal brutal i can't what did i get wrong i i trusted them not myself that i've been in this business for 40 years and I did a bad job. I'm not proud. You're not proud. You're not proud. He's not proud. He's not proud.

Man. Brutal. It's been a long time. He did a bad job. Bad job. That's how he, that was like as articulate as my seven year old would have been if she was crying about this.

But the best part is he says, I didn't listen to myself because apparently jim cramer's inside voice like his internal monologue was screaming sales facebook don't tell the entire world to buy anyways dude that's all i got that's all i got for that story moving on reddit users open 2.5 million crypto wallets after launch of nft marketplace we talked about this the other day but it's worth reviewing because three million users open polygon wallets to trade fucking reddit nfts man reddit nfts this is crypto snooze i mean this is the shit they're buying apparently i don't really even know what that means. Look at it. Crypto snooze. Yeah, guys. I mean, monster sales, monster sales. I think

they've done 2.4 million in the last 24 hours, trading over 23,000 collectibles, 6.4 million in sales on secondary markets already. And I mean, Reddit has, you know, 50 million daily active users. They grossed over 350 million in earnings last year. So it could be really impactful. Their little foray here into NFTs and to Web3. But listen, we talk about how dead the NFT market is. Well, with the right community and the right project, which apparently is these stupid things. These stupid things. Yeah. I made a joke. Oh, man.

So at the Web3, WebEx conference in Vegas, I can't remember who I was interviewing, but we were talking about NFTs. And by the way, this was effectively like an NFT conference. Like everyone there was like a punked out NFT artist or an NFT project or trying to sell me an NFT. I don't hate NFTs. You guys know how I feel. I just don't get most of it. And there's a few things I would buy. But I said, listen, I was on stage and there were a lot of people there. And I said,

somebody tried to sell me an NFT that gave me fractionalized ownership of a yacht. And they were like, oh, you should do that. That sounds awesome. And I made this comment that was way harsher than I intended. I was like, yeah, as if I want to be on a yacht with a bunch of people who like NFTs. And I, it was like, I saw people's eyes and I was like, wow, I didn't really mean for that to be that aggressive. Came out really aggressive, came out really aggressive. And listen, one other thing that I think we need to do every Friday is remind you, because we don't talk about them, remind you of the podcast that I put out this week.

Here it is, The Wolf of Wall Street. It's on Spotify. Yesterday, on Thursdays, the podcast, obviously, we take the audio versions of the roundtable we do. So that was the regulators and legislators attack crypto. I talked to Charles, Charles, Charles, and Charles, and Charles.

We had Charles Jansen, Charlie Shrem, not a Charles, Charles, Charles, and Charles, and Charles. We had Charles Jansen, Charlie Schramm, not a Charles, right? We had those dudes, and we had Dave Nage from ARCA. If you missed my, by the way, it was like last week, if you missed, it's down here somewhere. It's down here somewhere. It's down here somewhere. On October 11th, why s&p global is betting big on crypto charles jansen head of defy transformation chuck mounts both charles's

so these two guys came together one of them's like an old school trader chuck mounts and then charles jansen obviously the guy from argentina that we spoke with yesterday they came together started a defy arm at the s& Pretty incredible. That's a conversation definitely worth listening to. But then this week we had yesterday, we've been posting the Daily Howl, which is audio versions of our live streams, if you've missed that. Then on Tuesday, if you guys missed this,

it's so fucking good. This guy, Lou Kerner, I don't know if you guys know who Lou Kerner is, but he's in BC. I called him the Unicorn Whisperer. I think I coined that. We talked at Mainnet in New York, and then we hung out a bunch in Singapore. He called him the Unicorn Whisperer. I think I coined that. We talked at Mainnet in New York, and then we hung out a bunch in Singapore. He met my wife. We were hanging out on the roof at

Marina Bay Sands. It was really awesome. So when he tweeted about the podcast, actually, he said that, Emmy, my wife is responsible for all of my success, probably fair. But this guy's story is so crazy. He was the first person to ever try to buy YouTube when it was brand new. He owned a competitive service, Bolt or something, I think it was called, that he was like, the plumbing just wasn't there. And he was like, I tried to buy YouTube for like $150,000 or something and they wouldn't sell it. And then Lonely Island or whatever blew it up, Andy Samberg. And then he called Zuckerberg when it was still like just a Harvard thing and tried to buy Facebook. So this guy identified YouTube and it was worth a couple hundred grand and Facebook when it was worth a couple hundred grand and tried to buy both of them. But he's a massive VC in the

crypto space doing incredible things. Definitely worth listening to. And of course, on Sunday, I had his blockchain eating Wall Street or his Wall Street eating blockchain. That was the first question I asked Alex Tapscott. We were literally surrounded by hundreds of people eating food and drinking and it was mayhem, but it was an awesome conversation. I don't think anyone sells the crypto space better than this guy. So if you missed that, you should have been all over that. I don't know if you guys have seen this, but before I let you go, now that we've reviewed all the news there's this new uh there's this new video that's hot in the streets you guys might have missed it did I get wrong I I trusted them not myself for that I regret I've been in this business for 40 years and I did a bad job I'm not proud you're not not proud you're not

I did a bad job I'm not proud I'm not proud guys that's all I have for you today next week we're getting back on not back we're starting the new schedule

Mondays will be macro I'll be bringing in macro guests every week to share charts data smart people who know more shit than you and more shit than me. We're bringing those people. Tuesday, we're going to be doing charts, talking about markets. I've got Christopher Inks, who is here, Texas West Capital. We've also got a bunch of content coming that did with him at WebEx in Vegas.

Next Wednesday, not sure, we'll be on-chain. Thursday, the roundtable. And Friday, once again, this was was actually fun I like reviewing the news but it's the big news of the week and I can focus more on each individual thing yeah architect Jeff says that Wu-Tang shirt I was wearing in that interview

was also I think this is wash hands I don't know it was good Scott do AMA I will do AMA right now for 5 to 10 minutes. Go ahead, ask me anything. What's your Halloween costume? So I've got a couple.

One of them's Elvis. It's pretty poppin'. The other one, because my daughter is now obsessed with Star Wars, she's Rey. My son, who's three, has a poppin', like, proper, full-on Stormtrooper outfit, like pads, helmet, everything, like a real one. And he also has a pop and like proper full on storm trooper outfit, like pads, helmet, everything like a real one. And he also has a Yoda outfit.

Uh, my wife is princess Leah, but one of the times, cause we got a whole bunch of Halloween stuff going on. I'm going to be Elvis and she's going to be Priscilla Presley. Best DJ memory. I have a lot, but maybe red rocks in Colorado.

I was on tour with slightly stupid ozo motley g love and special sauce 2007 it was called the summer haze tour because all of them smoke super amounts of weed um red rocks sold out raining my gear like my gear covered in plastic we were like shit i'm not going to get to go on i'm not going going to get to play. And like, literally like two minutes before my set, the clouds cleared. I pulled back the plastic, like trying not to get shit wet. We hung it over my set in case. And I started the set with a Sunday, bloody Sunday by U2. If you guys don't know, the YouTube video was shot at Red Rocks. Everyone there knew that.

The place went fucking wild. And it was like the best 45-minute set ever. Chewy, when bottom of bear market? Listen, if I had to guess, June of 2022. When we hit the 17,000s, I said, looks like a bottom, feels like a bottom, smells like a bottom. Maybe it's not the bottom, but the fact that we've decoupled while the world has burned makes me think that that's very likely a bottom. Bucket list venue to DJ? I don't know, man. There's so many of them, but I don't know, MSG? I've done venues bigger than that, but MSG

would be special. I mean, I toured Japan in 2006 with an artist named Toshi Kubota. He's kind of like the Michael Jackson of Japan. I was in his band and I was the DJ in his band and I did all the like extra percussion and kind of stuff. But I opened every set for 45 minutes to warm the crowd up for the concert. I was on stage like three and a half straight hours. Pretty crazy. But we played like the Tokyo Dome and stadium in Osaka, 36 cities in Japan, all huge auditoriums and stadiums. Yeah. Scott, you seem to have a lot of chili pepper mixes on your SoundCloud, all your stuff on there. My original set, my DJ career ended when my SoundCloud, like many people's got taken down. So what you're seeing there, even though it's got millions of

listens and a lot of followers is my backup account and it doesn't have all my content. I probably had 300 tracks on my SoundCloud before it got taken down. But the core stuff from that era, ball of notes, red hot chili peppers, the skeetles, all that stuff probably up there. Yeah. Guests who have not had on yet, appreciate you, brother. I've been borrowed. I mean, I'm not saying this will happen or that's even the best. I'd love to have Elon Musk, obviously. That would be number one.

But I've been bothering Mark Cuban quite a lot and would like to get him on there. Are you still stacking regularly? If so, what assets are enticing you? Slowly. I bought a lot of ETH at $12.84. I told you guys the day I was doing it. I told you guys weeks in advance I was going to do it. I still average into Bitcoin and ETH in small amounts on an almost daily basis. I bought some Matic not that long ago. And I bought some

more E-gold not that long ago. And then there's some other shit. Yeah. March is probably not actually Cuban, if I had to guess. I don't think so. What happened to SoundCloud? SoundCloud. So SoundCloud was basically invented for people to share, like, different sounds and experiments and things they were trying to do. Like, here's a half-done track. But it was never meant for people to do remixes of copyrighted material. But that's what it became.

DJs took over SoundCloud, started posting mixtapes, which obviously is, copyrighted material, but that's what it became. DJs took over SoundCloud, started posting mixtapes, which obviously is all copyrighted. And then people started making remixes. So it became a big problem because copyright holders wanted to get paid every time we use their stuff. And then one day they got major pressure from the labels after years of allowing it. And they basically did these sweeping takedowns of accounts. Yeah. And so basically one day it all disappeared. So like all of a sudden my SoundCloud was gone, but that didn't just mean that like the main place that my music was hosted was gone. You have to think about back then music blogs were the key to everything. And I was constantly posted on the biggest music

blogs and hype them and all these things. And so your SoundCloud widgets, the way that people listen to your music everywhere on the internet also came down. So basically I was erased from the internet in like one day. Yeah. Scott, Google Wallet, every custody crypto in future?

I mean, maybe. I'm not trying to custody my crypto with Google. Yeah, not trying to do that. Yeah, Japan, I was there three times, but in 2006, I was there. We went to 30 something cities. As I told you, I went back late 2006 with G love and special sauce on tour that October, and then went back the next March for, um, I don't remember what they call it. Basically Toshi, the guy that I had toured with, they gave him a Lifetime Achievement Award and we did a concert live on MTV in Japan. And what was cool about it was that it was him watching the concert.

We were his band played, but all of the biggest artists in Japan, like 15 of them, literally the biggest they have, like covered his song. So we were the band for the 15 biggest artists in Japan. It was sick. MySpace also accidentally deleted everyone's music from those days that's right myspace went down and everybody used it as sort of a music platform it was like a precursor to soundcloud in some degree yeah uh fibbo swanee has an important question yeah i do have that coincidentally i have a claim i trusted them not myself for that i regret i've been in this business for 40 years i did a bad job i did a bad job i'm not proud you're not proud you're not a bad job it was a bad job i did a bad job bad i was married I love Japan. Every part of it. Japan, you know, listen, I was just in Singapore. Singapore is like,

it's amazing, but it's like, you know, New York East, Japan, when you're an American and you step off, especially back then, like most people didn't speak English. It was really like being in this incredible foreign place where everything was new. The tastes were different. Just amazing. Ooh, I did a bad job. I did a bad job. Ooh, man.

I was bad at the job. It wasn't good. I did a bad job. That is all I got. I got shit to do. I got things to do, man. Thank things to do man but thank you for your questions thank you for your engagement thank you for showing up Kevin thanks for being here Chris thanks for being here Fibbo Swanee thanks for your Des Paul TND Velez all your names. I see all of you. Drucified, as always. Architect Jeff. Tenacious B.

Pharaoh's cat. Nat A. Legends. Legends, you all. Appreciate you all being here. I will be back Monday with Michael. Michael McGlone of the Connecticut McGlones. Don't miss it.

Be there. See you Monday. Peace. That's dope.