Unchained - Uneasy Money: How Ethereum May Have One-Upped Bitcoin in One Big Way
Episode Date: January 30, 2026Thank you to our sponsors, Fuse: The Energy Network and MultiChain Advisors! What is the Moltbot buzz about? In this episode of Uneasy Money, hosts Kain Warwick, Luca Netz and Taylor Monahan delve i...nto why Moltbot, the new AI agent hogging the internet spotlight, is so exciting as well as the memecoin drama that has followed. They also discuss how the son of a U.S. government contractor was allegedly caught flexing stolen Bitcoin in an online contest, analyzing how scammers can be so dumb. Plus, why Ethereum's quantum computing initiative is so bullish in contrast to Bitcoin’s nonchalance. Also, are memecoins back? Don't miss out on what Kain says is the real AI agent opportunity and Luca's tales of flipping Instagram handles for millions of dollars. Hosts: Kain Warwick, Founder of Infinex and Synthetix Luca Netz, CEO of Pudgy Penguins Taylor Monahan, Security at MetaMask Links: How Nansen’s New Trading Agent Makes It Easier to Follow the Smart Money Onchain How the x402 Standard Is Enabling AI Agents to Pay Each Other Ilya Lichtenstein Pleads Guilty to 2016 Bitfinex Hack of Billions in Bitcoin Ethereum and Optimism Lay the Groundwork for a Post-Quantum Future Q-Day Is Imminent. Can Bitcoin Survive the Quantum Threat? PUMP Drops Below ICO Price as Private Sale Investors Send $160 Million to Exchanges Learn more about your ad choices. Visit megaphone.fm/adchoices
Transcript
Discussion (0)
Agents can't go and make a Wells Fargo account or a Morgan Stanley account right here
be on these payment rails and in reality like it should out that yeah I mean that to me has to
be where I think the next bull run is gonna come I think you know we just need to convince the
Claudebots that Pengu is is the is the social that's medium of exchange once your prefrontal
cortex kicks in you're like wait hold up maybe I shouldn't be advertising my entire criminal
endeavors linked to my handle that I'm very proud of and posting it on the internet for everyone to
see. Maybe I shouldn't do that. Hey everyone. I'm Kane Warwick and welcome to Uneasy Money because what
happens on chain never stays on chain. I'm here with my co-host Taylor Monaghan, Security at Metamask and
Luke Nett, CEO of Pudgy Penguins. One quick thing before we start, nothing you hear on Ineasy
Money is financial advice. We're just three builders talking about what's happening on chain and we want
you to always do your own research before aping in.
You can find all our disclosures at unchaincrypto.com slash uneasy money.
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All right.
First things first, we're going to kick off with a story that is not really about crypto.
although I guess the intersection of crypto and AI is becoming more and more interesting.
So Maltbot or Claudebot as it is called, which is its own interesting thing, right?
The Claude people are like, you can't call it Cloudbot, guys.
You got to do something else.
I'm going to change the name.
So Agentic AI meets meme coins.
So what is Cloudbot?
Cloudbot is an open source agent that lives inside of your computer.
And there's actually a security component to this as well, which we can talk about.
But you basically install this AI, runs on Claude, the LLM, and it can do kind of anything that your computer can do as an agent.
You can talk to it through various channels like Telegram.
And I think, like, as someone who's been vibe coding pretty hardcore for a year and watching how
much smarter these models have gotten. I'm not surprised that this went so viral because I think
the gap between people's expectations and reality has kind of collapsed a little bit. Like you go
through these waves, right? Like, you know, there's like the hype wave where like AGI's coming and
then you hit a bunch of issues and people go, no, they're actually really dumb. And then everyone
kind of fades it for a little while and then they get much smarter. And then everyone's like,
holy shit, AGI is coming.
It's like inside my computer right now.
So that's what the last week kind of felt like, I guess.
Yes.
Everything's moving so quickly.
Like I tweeted this morning, it feels like pre-Defi summer Ethereum.
Yeah.
Every day there was some crazy thing and it just felt like if you were sleeping for like 20 seconds,
you were missing out on like so much alpha.
And it just feels like that right now.
like the market is moving so quickly.
And there is something about this like recursive self-improvement loop that's going on where you make coding easier and people start building more tools.
And then those tools make it easier to make more tools and you just get this like crazy loop.
So so this guy wrote a post two days ago and was like, hey guys, maybe don't like expose all of your porn small on the internet.
And it's even worse, right?
Like, if you read through it, it's quite, it's quite an interesting read.
It's on, it's on X.
We can link it later.
But he's like, it's not just that you're exposing ports.
Like, that would be like a dumb thing to do.
But there's a guy sitting behind those ports who's like, I will do anything you tell me.
Yeah.
Yes.
Yeah.
And the guy who will do anything, right?
You've granted explicit permission.
to do anything on all of your most valuable accounts.
It's crazy.
So I think, and there's like this very weird, like, for me, it made me realize once again
that people, even the people who shill security don't necessarily have like a deep understanding
of like the foundations of security because they're like, I bought a new Mac Mini.
So it's isolated.
And I'm like, bro, the number one reason.
that you don't want them on your computer
is because your computer,
like your daily driver device,
has session cookies,
passwords, authentication,
and that all,
like all your most valuable things live in the cloud.
Just unlocks everything.
Those are keys.
Those keys unlock all your shit.
Right.
And so that's why we like recommend,
like,
don't like having separate devices for things
is because your daily driver device
that you use all day,
every day,
has everything logged in.
And if they get on that device,
then they can go and get anything from any of your accounts.
Now, just because you have a separate device that has all of those same session cookies
and all like full-ass permission to read and write to any of your accounts to log in,
to grab the data to make changes, right?
That does not protect you.
That's like that's actually the core.
You know what?
It's not only does it not protect you.
It's actually worse, right?
Because it is the illusion.
You wouldn't grant those permissions on your main machine because you're like,
ah, like this has all my stuff on it, right?
And then you walk over next door and grant like the exact same permissions on a thing
that has like a hike directly to your stuff.
Yeah.
And these days, by the way, like people don't realize.
Like these days like everything is sinking all the time.
So the logins and the authentication is really the most valuable thing.
Yes, you might have some like old files on your computer, but increasingly the reality is like...
It's all cloud.
It's all in the cloud.
It's all the cloud.
Anything that you're...
There's a key chain that has all your stuff, right?
Yeah.
But it kind of reminds me of like the hardware wallet people that are like, no, no, bro, it's fine.
I've got a hardware wallet.
You don't understand.
And then you start talking to them and it's like, you're just signing bytes.
Anything that pops up on that thing, you just press all the key, you just press it as quickly as possible.
You don't look at anything.
like you've you've solved one attack vector of like key expultration which is not the main problem
and exposed yourself to like this illusion of security where you're like no no no i'm fine i'll just
i'm gonna suck yeah no that was my yeah the ledger the ledger cto charles likes to go on twitter
and be like ledger would fix this and i was like it did it fix it it guys yeah yeah yeah so so uh so i think
there's like so many things to this story. One is
Claudebot, C-L-A-W-D,
bot, this play on Claude. Anthropic did not
appreciate that. And presumably he sent them a nice
cease and this, I'm guessing, and the guy was like,
don't worry about it. We're going to call it something weird that's not
related to Claude. So I think
that one was quite funny. But then
you know, maybe this was probably the most eye-opening thing to me.
And I kind of knew this, but it had been a while since someone had pointed out to me.
And it seems like this technology has gotten better.
There are these port scanner people who scan ports on the internet, like just constantly, right?
It's like almost like an indexer for crypto, like mixing every port that's on the internet.
And the response.
And you can just go and search and be like, hey, like I'm looking.
for this keyword in this port scanner and it gives you all of the things that are responding.
I was kind of blown away about that one.
That was pretty crazy.
Yeah, it's fascinating because there's an incentive, right?
Because there's a huge market.
If you can get on basically any server, any computer, there's so much you can do with it these
days.
And thus, the tools evolve rapidly in response to that.
There's also a large number of, like, security researchers and stuff that do this for
legitimate reasons.
But it like, you know, it kind of like goes back and forth.
Like they built like really robust tools and that the red actors are like, oh, that's nice.
Yeah, I'll take that.
Yeah.
Yeah.
Yeah.
Luca, what's your, what's your take been on the clubbuth thing?
Have you got one running?
No.
I'm out of that sphere a little bit.
So much so that I got a guy on our team on the abstract team named Jared Watts.
I highly recommend anyone listening.
I know.
I'm learning.
I'm starting.
I'm not going to.
It's very obvious to me that if you're not vibe coding
and if you're not just completely utilizing the Claude interface
that you're going to be left behind in a big way,
obviously I became kind of a big pro,
at least on the LLM side, but that's not rocket science.
But I've really not taking the vibe coding things very seriously.
And so, Claude, outside of buying the,
the I bought the token
the Fugazi
Claude token
As for my mind
when I see something trending
my mind instead of just
Yeah what's the token
You know I'll set
I'm like what's the token
Well it's it's funny
I said this last week right
But like I've been
I've I must have spent
At this point I would say
Across like cursor
Codex Claudec or whatever
100K this year in tokens
like easily under K.
And I'm like, there is no direct return on investment for me.
Like what am I doing with my life, right?
Like it's all like intangible.
I'm like, I could have bought so many.
I'm buying the wrong kind of token here.
Like this is these tokens.
You're going to buy more pudgy cards, dude.
What are you doing?
I know.
I know.
I could have finished that sketch set that my son bought that me.
Are you guys usually going to Infinex?
Like are you guys like, I talked to CyGar the other day.
like, dude, you know, things that used to take us two weeks to ship, we're shipping in two days.
This is great.
Yeah.
So I think my hot take on this is like everything's coordination problems.
Yeah.
Like the lens that the thing that got me so excited about Ethereum back in, you know, 2016 is like it all of a sudden there was this giant coordination problem when the Dow hack happened.
And immediately my like coordination spidey senses went off.
And I was like, people are coordinating here around this thing.
And it's like a big deal.
And so that like got me to go down the rabbit hole.
And this feels very similar.
So you have a team of people, five people, 10 people, 50 people, 500 people, 50 people, 500 people.
And you got to coordinate them, right?
As that scales, it gets harder.
The bigger the org, the harder it is to coordinate people.
And coordinating people has been like the primary thing that we've needed.
to do, even down to like the level of an individual person.
The reason why Claudebot is so cool is because it helps you self-coordinate.
Why people are so excited about it because it's like I've got all these things that I need
to do to coordinate my own life.
And this thing goes out and like solves those problems for me and, you know, deals with
my email and deals with like so that that coordination problem even down to like a single person
is is really challenging.
Right.
But then you get a team of 30 engineers and you try and get them to do something and fucking God help you, like figuring that out, right?
It is really, really hard.
There's like all of these like social elements, whatever.
What's interesting about the last honestly like six weeks, I would say, right?
And for me, I think the big switch that flicked over is Claude code went from, used to have to type ultrithink.
to get it to go into like deep thinking mode, even when you had it on max mode, right?
And they,
they switched this about three weeks ago where it's on by default.
There's no more ultra think.
And that to me is where like it went really parabolic.
And all of a sudden it was like, oh, wow, these things are that much smarter when you make them smart all the time.
And so the big question for me is like, how do you coordinate agents?
That's actually now the question because a single agent can do something sequentially.
But context is really hard.
They get context poisoning really quickly.
And so Ralph, which was the thing that everyone was excited about two weeks ago,
was about this coordination problem, right?
Like instead of having one agent that tries to like grind through a, you know, 200 page plan,
you have individual agents that spin up that are ephemeral that do a loop of work.
and then they hand over to the next guy.
And they just loop through it and loop through it.
And that was like a very coarse grain solution to the coordination problem.
I think that there are many, many other solutions.
And even Kimmy, the new, I guess it's like it looks to be people like I'm not 100% certain about this,
but it looks to be like someone has jailbroken cord and gotten the weights and has like
published them as an open source thing.
So Kimmy is like this open source model that is almost as good as Claude.
But one of the things that Kimmy has that Claude doesn't have,
they've done this training mode where you have agent swarms.
And the agents like swarm over a task and like find ways.
I think the big unlock over the next like three to six months is going to be this agent
coordination problem.
Whoever is at the forefront of that is going to be able to just like blow through some shit.
So Kane, you seem to be on the great.
level here. And I again, I remember meeting you in New York, you telling me your vibe coding a pudgy game.
Let me get like a really high level macro of where you think this all goes. Obviously, Dario just
published that article, kind of the flip side of where you think AI. Give me the like, where are we
three years from now? Where is the disruption going to lead? Like, give me the highest level out of the
weeds perspective based on somebody who's obviously been using this stuff. And I have a lot of respect to
your macro takes? What do you think is going on here? So I think I should probably caveat with
my macro takes have a history of being incredibly wrong. So, you know, I'll just throw that out there,
right? Like, ETH is not at 25K as I bet Carl Somani 18 months ago that it would be. So, you know,
take anything that I say from a macro perspective with a great assault. But my hot take on where
we're going is that like we have very very smart individual people right these agents they're very
very smart individually for like legitimately 20 minutes and then they get like exponentially
dumber every minute that you're interacting with them and this is like just it's the weirdest thing
and and there is no real mental model for this it's not how we think about humans right like you get a
human and you start teaching them stuff and they get better and like they stay good and they have
like this upward trajectory for like 50 years before they start to like taper off right and you know
early on there's like a you know you get like a three year old right and you teach them some shit and
then like at four they're like 20 times smarter than at three and so there's like this exponential thing
it's weird to interact with an entity that spawns super smart like autistic level like genius knows so many
things and then you start talking to it in like 20 minutes later is retarded.
Like that is a weird thing to manage and like think through, right?
And that's why I say that like, you know, the challenge is going to be in coordinating
these things.
And so once you, once you figure this out.
And Kimmy is the first time that I've seen like a really focused effort to coordinate
swarms of agents.
There's been people that have been trying to do like sequential stuff, but like coordinating
a swarm of agents to go and tackle a task. The interesting thing about this is that right now
there's a fairly high cost, even in tokens, to getting a single agent to do something.
So getting a single agent to do something and then getting other agents to check it is the
hard problem here, right? So all of the time that I spent of last nine months learning to vibe
code and like trying to figure out where the edges are, the edges are all me. Every single problem
that exists in this space is like every time I have to do something.
And so the key thing is trying to figure out how do you remove the human from the loop
and throw agents at the problem and have them kind of self-correct.
That's the hard thing.
Once you have this recursive self-improvement, and that's what, you know, Dario's thing, right,
he's like, we are using these models to build smarter models, right?
Once there are no humans in that loop, that's where you get to like a false takeoff scenario, right?
where like on Tuesday the models get together and come up with like a new theory for how maybe
they can make a smarter model and then on Wednesday it's 10 times smarter and then that model's like
I've got some ideas and like genuinely like we are in this like early part of this curve where
shit's going to get crazy like the like pivot to being like a personal trainer for something at
this point if somebody ETSD from the early 2000s is like this is like this is
just going to be this similar, just as similar to the tech bubble, what would be your
contrarian take to that statement?
So I'm old enough to have been through a couple of AI winters, right?
Like, AIs had winters, just like crypto, right?
Where, and this is why I say, like, there's a hype cycle and then it dies off and then a hype
cycle and dies off.
What's interesting about the last three years of AI hype cycles is it's been very compressed,
right?
And, and, you know, Dario even said this in that recent post where he's like,
people get the hype cycle is going like this meanwhile if you actually plot the skill level of the
thing it's a linear thing that just keeps going up right it's just up into the right um and so my my hot take
is that if you look back at some of the things that people have predicted will not happen right so chess
humans are too strategic for a computer
would ever be better than us at chess.
Like how could a computer ever be a grandmaster?
Well, that fell over in 1997, right?
And that was not even a smart model.
That was just a brute forcing algorithm, basically, right?
Then we had like stockfish and, you know,
all of these models that got better and better and better
to the point now where like at a game that we've been playing
for thousands of years, the best entity,
that can play it is a computer,
and not just a computer, but like a model, right?
A model that has the ability to play this thing.
And then people are like, okay, sure, sure, sure, chess,
but like, what about Go?
Like, Go is way too hard.
There's, like, too many positions
and atoms in the universe and, like, all this nonsense, right?
And then AlphaGo crush the best Go player
to the point where, like, it's lawfable, right?
And then you go, okay, well, what about, like,
these open world games?
Then it's like, okay, well, you're now we're winning Starcroft,
right and then it's like all right what about protein folding yeah okay it can do that right there is
no thing that anyone is predicted that and it would be fucking wild if you think about it to it'd be
like saying that yeah sure there are aliens on another planet that are smarter than us but they're
not going to be better at us than like I think fuck and it's like what are you talking about like of course
they're they're better at everything and it's like okay okay we're like not and
at like Atari games.
And it's like, what?
No, like there, but what anything that you are good at,
this thing is smarter than you,
it will be better than you at.
And that's the world that we're in.
We have aliens that are inside of our planet right now
that are smarter than us in very narrow domains,
and those domains are rapidly expanding.
Yeah.
And we are going to get to a point where they're just smarter than us in every domain,
and then what the fuck do we do?
Well, yeah, and like you were talking about,
like the coordination thing.
Once you,
for lack of better word,
stop making them so like rapidly,
like ADHD devolving
and like can like refocus them
and like re-re coordinate them.
Humans are not great at coordinating this.
Like that's the hardest amount of scale of organizations.
It's like,
like we're really bad at it.
It requires like this very horrible modes of communication
and like checks and balances, you put in processes, you create committees.
Like, it's the worst thing in the world.
And we're, yeah, exactly.
So, yeah, that's, I think, like, the major unlock for me is, like, the coordination game,
which is obviously, like, this is what blockchain also purports to, like, help solve, right?
It's, like, remove the coordination.
I think that we vastly underestimate what that results in.
I think we have it.
I think we understand to a certain extent like just how inefficient the coordination is in human land.
But I think that like there's going to be a tipping point where.
Yeah.
So everything just like gets completely unlocked once you once you kind of like quote unquote solve coordination, whatever that means.
And then while things can happen.
And you know, again, the thing that we have now is this recursive self.
improvement loop that is very human driven, right?
Yeah.
In the last two months, the ability to build tools for AI, for AI to get better, has collapsed
in terms of cost and time by 90%.
Any kid who has access to Claude Code can cook up some scheme to try and figure out how
to make these agents coordinate themselves better.
So you have tens of thousands of people who could not have previously done this, who are now as
good as the best engineers who were running these labs three years ago building software and
tools for these things. And there's thousands of people out there. It's wild. It's really wild.
And like, it's going to change everything. And that's not even assuming that we get a better
soda model in the next six months, which we will, of course. Like Claude 5 or Codex 6 or whatever.
like this is the the most interesting thing to me I was talking to a friend of mine about this last night
and I was like it feels unlike crypto in the early crypto period where it felt like there were still
moats moats have kind of disappeared your moat is you're a smart person building things and you've
got a lead on the other smart people who aren't building the right thing and you can build a moat
anything that you can build can be replicated by like the the model
in like 20 minutes.
Yeah.
Like there are no moats.
And that I think is going to be the most chaotic thing is realizing that like
moats have disappeared,
at least from like an engineering perspective.
Anything that you can conceive of will be buildable in minutes.
So yeah, it's going to be wild.
Good times.
Distribution.
It's only moat.
Distribution.
It is.
It is.
Like you know what?
You know what you can't replicate?
You can't replicate fucking pudgy penguins.
That's what you call it replicate.
You know what else you can replicate?
Apparently not getting scammed because there's a whole other side story to this.
We're going to be talking about scams a lot.
Okay.
So, yes, AI is magical, etc., etc.
Back to Cryptoland-ish.
In true crypto fashion, the Claudebot is exploding.
He had to rename.
Anthropic is mad that he's whatever showing them up.
So he renames everything.
Um, of course, someone grabbed all the old handles, right? Because why wouldn't you?
Yeah.
There's like this thing that's like the future and everyone loves it.
It's totally or whatever.
Yeah.
And of course the person who did that is a crypto person because why would they not be?
Uh, and then of course, the thing that they decided to do, which actually I'm not opposed to this.
as like given the available options, right?
You can like go fish people.
You can go try to hack people.
In terms of what malicious things you can do, this is the least malicious.
But our preferred people used it for like good faith things, like truly good faith things, but we'll take it.
They launched meme coins or promoted meme coins, including the clawed meme coin.
There's multiple levels of irony here.
Yeah.
One is that Anthropic was like.
oh, God, I don't want our brand to be like...
Tangis by this AI bot.
And this was like, hold my beer.
And this only happened because they forced the bro to rename, right?
Like, if he had it renamed, then you wouldn't have a $16 million market cap meme coin.
That went like, of course, gr-hr-br-hmm.
And then the other side of the story, obviously, is, well, I mean,
It's just like the most crypto thing ever, of course.
But like these Claude guys, like they are not, not anthropic, but like the Claudebot
builder and like the AI guys.
They're smart guys.
They're not crypto guys.
He's sitting there going, well, I just wanted to build something cool.
What the hell does you do?
You know, the interesting thing about meme coins, I think, right?
And like this whole vector is, you know, when I first got into crypto, I was like, I've been
in adversarial environments.
I know, I know what that's like.
And like 20 minutes in, I was like, this is fucking insane.
Like, there are people trying to kill you just everywhere all the time, trying to steal your money,
trying to like destroy everything that you've ever done.
And they're like one second away from pulling it off.
And then you live inside of that environment for like eight years.
And you forget that people live in a different way.
This guy's like, I'm just going to change Twitter handles.
What could possibly go wrong?
good, no problem.
It's honestly,
it's the most jading part about being here,
frankly.
Yeah.
It is.
Yeah.
Yeah.
It also, like, I don't know.
Yeah, like, I'm, it could be way worse.
I'm glad that they didn't fish a whole bunch of people and, like, to destroy people
to a certain extent, like, I don't enjoy the meme-combing culture or this, this shit.
Like, I just, I really don't like it.
I don't think it's good.
I don't think it's valuable.
However, like.
at least it's sort of like limited to the sphere of people who like you put it next to
maybe no way or any into yeah you're playing the game um yeah agreed i think like the most lasting
sort of impact is like it is such a major turnoff like from the outside or even the people that
are like one foot in watching and observing he really don't understand the game and stuff to them
especially when they're just like okay so wait you you usurped this bro's brand after he had been like
like, you know, screwed by the big, bad, anthropic corporation.
You searched his brand and then rugged a meme coin on it.
Like, also, the problem is for people outside, right, crypto is undifferentiated.
Like, the guy who, you know, like, snip that handle, launched the meme coin, whatever,
like, they're the same guy as, like, Luca and Taylor and I.
Yeah. Like you're all crypto people doing bad things, right? It becomes this undifferentiated mass of bad stuff that people don't like.
Yeah. So, I mean, look, at the end of the day, we just need to convince the ClaudeBots that we're not bad guys and then it'll be fine because they're in charge now.
Yeah, exactly. I had one brief. Let's try to keep it brief. Okay. We talked about the macro AI. We talked about, right, all this different stuff.
where is crypto going to fit into this though?
Like we are going to like that's the next.
That's the unlock that I feel like we're kind of dropping the ball on at this point.
We're using it to build tools.
We're using it to coordinate people's management of their telegram conversations
that they can't keep up with, et cetera.
But like what the hell are we doing with wallets with crypto with on-chain trading like
Arbots?
Right?
I feel like we're.
there's a there's a big open table someone should probably sit down at right is anyone doing this
so my my hot take i was talking to um probably the person that i think has like the best long-term
uh kind of view on crypto of anyone i know um and he was like AI is just so much more fun than
crypto right now that was like it's clearly it's like the innovation it's like you like
defy some or like it's just it's this constant like it's fun there's not a huge amount of risk yet
there's a huge amount of opportunity like you just have to show up the output you need to show up
and learn things and it's moving so quickly and you're in that like early part of the curve that like
you know a like young enterprising autist can really like speed run a lot of stuff right
and and I think it feels exactly like early crypto to me it feels like the point
2016, 2017 era of like Ethereum turns up you can do stuff now rather than just like forking Bitcoin, right?
You can actually like build software on this platform and it does things and it's like, you know, autonomous.
Like it was it was fucking wild, right?
And this feels like that.
I don't know what the intersection looks like, honestly.
Like I'm not sure.
I'm not sure, you know, there's something to be said for like agents.
using rails, right?
Like crypto. That has to be the great
intersection, I think.
Yeah. You know, you can't
agents can't go and make a Wells Fargo
account or a Morgan Stanley account
on these payment rails. And in reality,
like, it should
out, yeah, I mean,
that to me has to be where I think the next
bull run is going to come. And I was talking to
somebody else about it. Similar to be like, I think
your point came. But
I was, you know, I was kind of frustrated as to
like, where's the crypto bit?
because stocks are just been vertical for like almost a year now.
I mean, last time we saw stocks like this, crypto was like if Filecoin is at 50 billion, you know?
So it's trying to figure out like what's going on.
And the truth of the matter is just like from you, we take the speculation side of it,
it's way more advantageous to go bid a AI shitter on Tradfai that's, you know, building some sort of silicon wafer than it is, you know, file.
even though you'd think Filecoin would be biddable and something like this.
But nonetheless, I think the bull run, at least for crypto,
is going to come around this narrative around AI using crypto rails.
Like that, I think, is going to be the convergence for hopefully our alt season
that everyone's been waiting for for now about five years.
Yeah, I think, you know, we just need to convince the cloudbots that Hangu is the social
That's a medium of exchange.
It's interesting.
Actually, I'm going to write that down because I should probably make an effort to like go find one of these guys.
Be like, dude, let's make this the transactional currency.
I'm going to write it down.
Well, you know, it's funny, right?
Because in the game that I made, Pengu is the currency.
Yeah.
I was like, I'm going to use this as the currency.
So we don't have AI agents running around inside there yet.
But soon, soon.
You could.
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All right.
We're back.
Tay, if you can introduce this segment, I would appreciate it.
Yeah, yeah, yeah.
All right.
So this has been like the highlight of my week.
So where do we start?
So as most people are aware, the government seizes crypto for all sorts of different reasons.
When bad guys do bad things, they seize the crypto.
It's a long, long, long process, right?
There's like various stages and steps to the seizure process.
I think a lot of people don't realize that you have to like, you have to freeze it.
You have to coordinate with the people who have the crypto.
You have to like move it.
all these different things. There's like an equivalent, like there's like the on-chain processes
and there's the off-chain processes. And the off-chain processes take forever because it's the
government and it's like courts and a bunch of paperwork. And so in this case that we're about
to talk about, we're talking about funds overseas from a few different ongoing court cases.
The first is the FTX Alameda fraud situation, the SBF, right? So when FTCX, when that
whole thing happened. There's like a lot of moving pieces and there's criminal cases against
SBF and there's settlements and there was plea deals, all this stuff, right? Any crypto that were
like in those people's accounts at some point was like seized as part of the larger fraud
investigation process. And then eventually it's going to work its way through the system.
And I assume that it goes back to like the trustee, which then distributes to all the FTCS creditors, I assume.
I don't actually know.
But there's also the BitFenax hack, the 2016 BitFenax hack.
That's my favorite one.
It's crazy.
So Bitvinx gets hacked by these guys in the U.S.
Rosal Khan.
He's like an influencer.
She's amazing.
Like really smart, right?
like yeah yeah and i mean this is peak early crypto right these aren't like dudes in north korea or russia
like these are our homebred dudes that panted way in um so yeah they got arrested all of their crypto all the
stolen crypto that ultimately like that's this bitfinex user crypto or or bit venex the company crypto right
that was used by the government and then again long process right because there to go um and through a series of
events, Zach XPT got some Intel and then promptly tweeted the Intel to the entire world,
which led to a whole explosion of amazing. These are all very young kids, like teenagers,
like some of them underage, some of them like 20. It's a whole different world. So two kids were
having a competition, which is known as a band for band or B for B. And this is where these kids,
These kids, they go on Discord or telegram.
They go on live chat with each other and they show off the money that they have,
which is often stolen money.
And because it's like so easy to manipulate screenshots and videos and they don't trust anything,
they force, like in order to like properly do a B for B or whatever,
they have to move the money.
And they're doing it on live stream and they're like heckling each other
and like calling each other names and being really mean.
and this was a whole recorded
and then the recording was sent to Zach
because why would it not be?
And then Zach tweeted it.
So if you go to Zach's Twitter right now,
you can go watch the full video
of this kid basically moving
millions and millions and millions of dollars
into an account that he controls
while this other kid
is screaming at him and calling him names
and calling him poor and stuff.
And so that's step one.
step or part one part two is that zach gets a video exactly goes and traces the on chain stuff right
and when he traces back to see like where is all this all this money come from well uh turns out
that these are like little well not little they're million dollars seizure piles there's multiple of
these piles of seized money that's been sitting dormant since like 2021 2021 2020 22 23 uh that's the source
of the funds that the guy is now
like moving on the live stream
and so Zach was like
They didn't know that it was
government fun? They just like
didn't crazy
I mean the guys the guys when they're
doing these these competitions
they're all scammers they all do
different scams and stuff I'm not sure who
knew I don't
I don't know who knows what
I'm sure that I would say
the main character who
has who is moving the money
I think he definitely knew where it came from.
I mean, you had to get it, right?
So he would have to get the keys somehow, right?
So I actually have symmetric information here that will be insightful.
But it's through like a long line.
So to give the audience some clarity,
for a long time, I thought I was one of the biggest holders of Instagram usernames.
I probably at one point.
Oh, my God.
Luca, you're a skid.
Yeah, yeah, yeah.
So I, you know, I've sold usernames for millions of dollars.
I bought usernames for millions of dollars.
And these worlds actually commingle a little bit.
The username goes over into the scammer world.
And so this, this actually dates back seven, eight years to a, to a kid named Malone,
who was also like 18, 19, who stole $250 million from who we think was actually the guy
who did Jelly Jelly, as funny as that was.
he, and this is, you know, you know, that guy apparently had like half a billion dollars in Bitcoin.
Again, this is like all, you know, speculation. But, you know, that guy's is like a Silicon Valley billionaire.
But these kids are to, to Tay's point, they're all 18, 19, 20 years old. And they all operate through, believe it or not, these user, it starts with the username.
Because how do you flex on the internet? One of the best ways to do it is via these usernames on Instagram,
on Telegram and they have this network.
There's actually a specific website.
I won't mention the website because I don't want to.
God forbid I've mentioned the website.
I might be done so.
But they all operate and meet each other through this website.
This website also provides other services.
You can take down people's accounts.
It's like a black market for Instagram or social media services.
And it is wild.
It's a whole world.
so wild. It's a whole dark web of like ages 18 to 23. You'd be surprised. They don't get much
older. Right. Like the people. It's a very interesting place. 18. I've never really met anybody.
Maybe once or twice somebody was like in their 30s. But they're all in this like 18 early 20s range.
And it is such it is such a mind fuck on how stupid some of these kids are. How smart and how stupid they are in the same breath.
they're clearly smart in how they're figuring out how to operate and go down these rabbit
holes and, you know, have the ability to finesse and scheme and build these relationships with
the customer support agents.
And it's incredible how they're able to do that.
On the same breath, it's like for Malone, for example.
This kid actually stole $250 million, like, realized, broke it apart with all of his boys.
But he was in Miami with five SVJs in Los Angeles buying girls.
Lamborghinis and Birkenbacks.
I mean, there were stories,
Kane, and I have some friends
for babies who are like the rich of the rich.
You would go to the club and clear
$3 million in a night.
Are you stupid?
I wouldn't even do
that if I made billions
of dollars, one, but like two,
if you stole the money,
I wouldn't spend.
But that's, it's the same thing
as the billion dollar web.
guy that like had the it's
mb yeah uh thing i can't remember his name uh but the book is amazing
he stole like it was like five billion dollars and he would just go and spend like
ten million dollars at a club
in like he come easy go yeah like i don't know it's a wild world and i'm laughing
so yes the username so they all they all have these usernames that are like
like one word yeah they're like flex
So, like, you can mess with, like, at Flux.
And, like, that's, like, their reputation.
They love it and stuff.
They think, they also, they, they'll DM me sometimes.
And they'll, be, they'll think that they're, like, being super low key.
And, like, I'll never know who they are.
Like, and I'm like.
Cool, you know.
I'm like, four, you have four telegram handles.
And they're all, like, these little short words.
Like, 40.
Like, I know exactly where you're from.
What arc here, right?
So, like, you, like, you, like, you, like, you, like,
I bought them. You want to know why I bought them? I bought them because I thought they were better NFTs. Interesting. Well, I crushed NFT trading in a really big way. And I rotated all that money into usernames because, and I'll actually tell you, I have a couple. I sold a couple for a fortune. A lot of them I got smoked on. But I wasn't buying the flex, like those type of username. I was buying what I thought companies were. And so I actually owned AI for a while.
owned intelligence and artificial intelligence. Wow. And I own, and the best one that I owned
that Instagram, so the big problem with this was I didn't actually own the usernames, right? So
Instagram would start to take them down. So I actually would have probably made $100 million.
If Instagram actually let me keep, kept, actually let me keep the usernames that I bought,
you know, a third of them got just white. And the most important one, the one that I would have
made all the money on was chat. And so the reason why is because chat, GVT, we
branded everything to chat.
Right?
And so if I would have sold them chat the Instagram,
I could have easily got Sam Offman for 20, 30 million bucks on that.
But I bought one for 500.
I sold it for 2 million.
Yeah, I mean, this reminds me of like late 90s, like domain seller.
That's what I thought it was.
It was like the intersection of NFT.
Look if like, I'm in this corporate world.
I've got this.
And then all these little kids show off.
I wait, what?
It's interesting, though, right?
When you think about it, like, there's a level of platform risk to, like, name handles, right?
Like, and, you know, we had this on Twitter.
We tried to buy the synthetics handle on Twitter back in the day and somehow got scammed.
I still, to this day, do not know how I got scammed on this because we were able to, like, log in and then, anyway, it was weird.
Oh, yeah, yeah.
But we have, literally Twitter.
They're scammers, Kane.
Like, they're scammers like this.
I know.
I was like this.
Yeah, exactly.
But the weird thing was, like, the guy sold it to us.
Anyway, it's a long story.
We don't need to get into it.
But we eventually, Twitter, like, to your point, Luca,
Twitter reclaimed all these handles.
And so we're able to get the Twitter handle at synthetics for free in the end
because we had it, like, you know, so Twitter just when,
so the difference obviously between domains and.
Twitter is Twitter is like a centralized platform.
I can is not-ish, right?
And so you can kind of own a domain
and there's like a little more decentralization to it.
Interesting, you didn't buy ENS handles.
I did for a half a second,
but I then was like, oh no, I'm just going to buy these
these are the ultimate NFTs.
The ultimate dollar and status symbols
are these like username.
but I was then going, so how this all segued was, before everything,
I was going to be in a partner in a company called weed.com, right?
And so I met this guy who had basically made like a hundred,
a couple hundred million dollars on domains.
He owned so many.
And so when I got into the NFTs, made money there and I rotated back into the
usernames, I was going through his portfolio of domains and getting all the usernames.
You're like, I can do this better than this dude.
Like, got it.
Because the bundle is, the bundle is actually, it actually adds an even pool.
It does.
So you buy the domain with the social handle.
You actually could mark up, you know, a total probably net 10, net 20% on the entire package.
If it was just a singular thing.
Wow.
And it's a bit.
Yeah.
Yes.
Okay.
So we'll leave it at that.
Anyways, the handles are a huge flex factor for these guys.
They love their handles.
This particular guy had like four or five different handles.
and every single one is like a 40k, 100K, it's like a thing and you like links them all up.
In my opinion, the reason that you don't see them after about 23 years old is because that's when you guys, you boys,
your prefrontal cortex is not super fully developed until around that age.
There's a direct correlation between this.
Once your prefrontal cortex kicks in, you're like, wait, hold up, maybe I shouldn't be advertising my entire criminal.
endeavors linked to my handle that I'm very proud of and posting it on the internet for everyone
to see. Maybe I shouldn't do that. But prior to that age, they are very proud. And that is what
happened here. He was very proud of all this money that he had. He went band for ban with this other guy.
The whole thing was recorded. It was sent to Zach. Zach feeds about it. It gets worse.
it gets more. There's more to this story. Okay, so that's just part. That was part two.
So Zach tweets about it. Hopefully, we're all, we're just assuming that the government has gotten
their shit together and figured it out. The government is not one to like share back information
about this stuff though. So who knows what's actually happening. But we assume that the government
has seen Zach Sweet and is taking immediate action to secure any, any open doors that we're
left open or whatever.
The one
like connection theory
and this is very unclear
but the guy
who stole the money
from the U.S. government
it turns out that his father
works. Which is crazy.
This is insane. Crazy.
Turns out that his father works for
a company that helps
the U.S., the DOJ, the
DOD and the U.S. Mars Marshal
service with
cease crypto.
Like he's literally just on his dad's laptop.
That's where we're at.
And so, yeah.
Logging to his laptop and taking the money.
It's, and again, we don't know.
Like, actually, we just don't know the exact mechanism by which anything happened.
But, yeah, like, was it?
Was he just taken from his dad's laptop?
There's also, like, maybe a possibility.
Well, so, okay, on the internet, a lot of people immediately were like,
oh, his dad did it, too.
His dad's involved.
Personally, I am not, I'm not willing to say that.
Like, I'm, that's a, that's quite a large accusation.
Let's be careful there.
I think there's possibly the, like, maybe he just knows super deeply about this world.
And like Luca was saying earlier, like, the, they're, they're very smart.
Like, they're very quick.
They're very clever.
They're very smart.
And they're very quick, because they're the young curious mind, right?
Like, they're very quick to, like, pivot one set of information or insight that they have.
and apply it to like a completely different mode.
It's like probably one of the things that they do better than most of the factors.
And yeah, exactly.
And so you can imagine that perhaps it's like, I don't know.
Perhaps there's like another, there's a couple steps in the chain where like he gets,
he has this insight and expertise and then was able to leverage that or use that to gain entry in some other way.
That was not literally his tough loft off.
But we don't know yet.
All right, so part, that's part three, was the unveiling that his dad literally is like, yeah,
he had like a multi-million dollar contract with the government for the next decade for
helping them deal with their series crypto.
So that's a thing.
And then in true crypto fashion, what happened next?
So he launched a meme coin.
Of course he did.
Because what else are you going to do?
you have attention and aren't yet in jail.
I don't know what the market cop got to.
When I saw it, it was that like, it was over a million.
It was rapidly approaching two mill.
He's been just like, yeah, the money's just being laundered.
There's all sorts, there's a huge amount of, like, drama in between the groups and of the groups and stuff that I don't fully understand anything about.
I don't know.
the meme coin
of LP
It's somewhat of a flex to be like
I'm going to launch a meme coin
and then I'm going to keep buying it so that it keeps going up
because I have stolen money
and I'm like make this meme coin
a billion dollar meme
I found out how how this family's
like guys are it makes sense
I never
when CZ got hit for laundering money
I was like how are they laundering money through it
but you know you can be a seller
of a token and then the Fugazi
money is buying it on the other side and that's how you launder and it's actually a pretty
yeah no i mean in order the biggest thing i've learned about money laundering you have to have a
fat amount of liquidity yeah the more liquidity you have the more thing you have to do something with
the money you cannot just take money from one place and put it in another account that's not laundering
it you have to do things and so and in order to do things especially in crypto like that's liquidity
And so anything with liquidity is going to be used for money laundering, what type and how?
This is a weird case because this guy, like, I don't know.
I, yeah, I had some moments where I was watching this, like, the lives.
They had a, oh, yeah, they had a live stream, of course, with, like, the mean coin launch.
They also got the scammer, the guy who had his money, sorry, the guy who stole the money from the US government launches the meme coin.
and then he was trying to pay
influencers
to promote his meme coin
like the influencers
that are sort of on the edge of crypto
and so they were trying to like
send money to this guy
to this famous streamer guy
to get him to promote the meme coin
they're like coming up with a deal or whatever
I think it turned out that the guy
the streamer guy was not the streamer guy
it was just another scammer
and so they got scammed
for like hundreds of
thousands of dollars.
They were like,
they were like,
wait, is this,
are we even talking to the right guy?
But again,
it's funny,
right?
Because like,
if you're in crypto,
you don't just go in telegram
and message like Luca,
right?
Like,
because most likely someone squatting on that handle and it's not
going to be Luca you think you're talking to,
right?
And,
and,
you know that.
You don't just like go and message a random person on
I assume that it's the person you think it is.
But if you are just like adjacent to crypto and this is your first foray into crypto, you can see how you could make that mistake.
The whole thing, I mean, because the whole thing is just like so fundamentally absurd at this point, like once we get to the meme point stage of the plot, I was like, all right.
Like, I'm just here for it.
Like, I'm sorry.
Like, I should be really upset and like morally opposed to people stealing from the government.
but at the same time like we're so far gone at this point and there's like nothing I can do about it like
so I just have to like laugh at the whole thing your scammers gonna scan scammers there's
streamers involved I'm like having chat gpc explain to me the kid lingo because I literally don't
even know this shit I've never felt older in my life guys like that's funny so from from scamception
to uh in it for the 10
back, Ethereum versus quantum.
We've talked a little bit about quantum resistance in Bitcoin.
We've talked a little bit about where quantum computing is going and the various, you
know, risks and concerns previously.
Fundamentally, I think the concern, especially around Bitcoin, is that the cryptography
that underpins Bitcoin and Ethereum and most of cryptocurrencies, not all, but most,
most is at risk of being undermined by quantum computing.
And so we need to come up with new solutions to secure things in a post quantum world.
And this is not like tomorrow, I think, realistically.
But it's a little bit like AI.
And I think the big thing, you know, to go back to your point, Luca, about like what are the
implications for super intelligent aliens wandering around amongst us, like shit gets better way
faster.
And so the people are building quantum computers who have been like bashing rocks together for the
last like fucking 30 years and have like three cubits that, you know, work for like 20 seconds,
all of a sudden they have like super intelligent people that will work 24 seven that can like
do stuff.
And yeah, of course there's bottlenecks of like physical, you know, design and stuff.
But we are seeing that these models are really good at like modeling things, right?
And like, you know, so research in all of these like frontier like very hard tech things, I think is going to change as well, right?
As we learn how to use these models.
And so a thing that we might have said like for humans to coordinate to solve this problem, assuming the problem is not intractable, would take.
take 15 years, humans augmented by super intelligent aliens, maybe it's five years, right?
And then like maybe it's one year or 20 seconds if it's a bunch of agents working together
with no humans involved, right? And so all of these things kind of point at like risks that
we previously said were like, eh, meh, now feel much more compelling. And so the Ethereum
Foundation is like, well, let's create a security team.
that we're going to focus on like quantum resistance and,
and make it a like top strategic priority.
My,
my hottest take on this is this is the most on Ethereum foundation thing.
It looks really technical, right?
But it's,
if you actually think about it from like a kind of tactical standpoint,
you've got the Bitcoin people who are sort of bearing their heads in the sand
and most of them are trying to ignore it and saying it's not a real thing.
But this is like a genuine meta.
of like quantum concern, right?
Quantum competing concern.
And the Ethereum Foundation steps in and goes,
we are going to lean into this meta and be like,
hey, we're going to be quantum resistant.
It's the most bullish thing I've seen out of the EF in a while
in terms of like tactical understanding of like where the market is
and investor concern.
And like we're going to get ahead of this thing and we're going to, you know,
show that we're working on it.
That to me was like the biggest deal of this, right?
Because this is not a short term thing.
but if you look at the market reaction to it and go, well, if all the sudden Ethereum is quantum
resistant and everyone's worried about quantum resistance and Bitcoin isn't, it's a kind of, you know,
it's a bit of an attack factor. So there's $2 million research prizes, live test nets, and a bunch of
stuff that is happening. I don't know if you've got a take on this or from a tech perspective,
but yeah it feels like a smart thing to do both like technically but also just like from a narrative
perspective yeah i mean i think this is like an area where it's it is the in my opinion it's like
the best thing for like the ethereum foundation or like that similar organ other areas right to be
doing because it is like it requires sort of that longer term higher level over
reaching research and like the research might not pay off like you're just you're not going to see it
it requires communism and that's that's their wheelhouse so and so when i think about like what is the
ideal role of these foundations right it's like you know on the one hand you have bitcoin which is
like there is none right there's like sort of these informal like people that are about
like bitcoin can't coordinate anymore it's bad right and then you know but you look at salana
they've taken a completely different approach.
They're much more on the ground floor.
A lot of people think that that's much better.
I don't necessarily disagree,
but you're also not seeing them do
these sort of like kind of
it's like this like
the nerd moonshots.
Right? Yeah.
And like, yeah, can pull this off.
Right. And I think it's great that they're doing it.
I think it's aligned
with their culture
especially, right? Like it's aligned
there. I think it's also the like
actually valuable because I think this is like I'm not I'm not panicked drinking about it but I think
it is something that is going to be a thing that needs to be addressed and the people that have
understanding of it will be in a place to address it. I also think that the research will definitely
like just having a deep understanding of this area is going to inform not just the literal
like research that they're doing but a bunch of other decisions that
are going to be made in the short and the long term.
So decisions about like, you know, priorities for protocol upgrades.
Like, you know, there's a huge amount of conversations and ways to do sort of like the root key management, right?
It's not just a question of like, oh, should we update our private keys to a different key thing?
It's like, you know, sort of these fundamental questions about like, yeah, like cryptography and authorization and how do you, how do you, how do you,
not just like secure against the one attack vector,
but how do you make this really robust in a really long-term way?
It concerns me when I see like the Bitcoiners just being like not a deal,
like not a big deal.
It's not so much that I fundamentally disagree with their take that it's not a big deal.
It's that that mentality.
It's scary.
Yeah.
It puts you in a position to not be.
You just sort of like lost that like curiosity and like, you know,
invest in equation and reclusion.
been on that trajectory for a long time of like there is a core group of people and you know to
your point about like 23 year olds and your prefrontal cortex is finally developing like there's
another arc when people get to be like you know 35 40 50 whatever and a lot of those bitcoin guys have
been around for a long fucking time they're old now and it's like get off my lawn you stupid kids
sort of thing, right?
Is that energy of like, we're fine.
Like, they have become very conservative with like a capital C sort of conservative of like,
you know, it's political movement of like, no, we don't want to change.
We're resisting change.
We're resisting anything.
Bitcoin is perfect as it is, et cetera, et cetera.
And so that that's a dangerous political movement to kind of creep into Bitcoin,
a technology that like we don't believe in.
change now it's like
yes
yeah
and I also
I find
I find that people that
that try to hold
these very hard lines
like these very tight hard lines
like bitcoiners right
where they're like
even the ones that don't fundamentally
like
won't stand up and be like
quantum is not an issue
they're still not going to stand up and be like
we should innovate more right
like they're still like
yeah
so like
The extreme end is like math is all real, right?
Yeah.
And like there's nothing to worry about.
And then there's like the people that are like, yeah, math might be real, but like don't do anything.
Right.
Like that's the, that's the political.
It's wild.
It's wild.
It's wild.
And I think that it puts them in a really dangerous position because you have, so the way that I envision it in my head and maybe I'm weird.
But like you have this really hard lying in the sand that you've arbitrarily drawn and you refuse across it.
So you refuse to even consider that there might be something worth doing there.
And so you're just like...
Political.
Yeah.
Like it becomes like this kind of political pseudo-religious stance.
Yeah.
And it's against anyone that even...
It's not just for quantum.
It's for everything, right?
In fairness to them, they've lived through 15 years of shit coignery and nonsense.
And a lot of people with ulterior motives who do want to.
change Bitcoin for their own means and it doesn't need to be changed. I got it. I got it.
Okay. But and this is the thing, while it does protect against those ulterior motives and
risks and bad things, like it is a very effective mechanism at protecting against that.
If you ever cross that line, you are not at all prepared to, to respond to it in any way,
shape, or form. And it tends to be like, like they're very scared of the slippery slope.
they actually have a right to be scared of slippery slope because they have no like muscles developed
to prevent them from like if they go over the line they're gone okay they're going to be like
let's centralize a whole thing and create a committee let's go like it's wild and to me that's a
real risk because if you don't have the muscles react and set like yeah you have no mode of
operating. You have no way to deal with this. You've no way to make decisions. Your coordination
is not there yet. Like, there's so many things where the lack of preparedness and the lack of like sort
of practicing on smaller scale things. And this is like it's like an immune system, right? Like
they are the isolated tribe of people that have like walled themselves off from the rest of
humanity and they're like, no, no, we don't get the flu. And then someone lands on their beach one day.
And they're all dead in like 20 years.
It's a mile.
No community whatsoever.
So yeah.
I think I don't know.
Like Bitcoin.
I mean, we've had these concerns, right?
Like the fee concern.
Like how will security, you know, if block production, like the idea that you can just
one shot something 15 years ago and look at the world today like 15 years later.
The idea that you can one shot something and never touch it again and it's going to be perfect,
it's possible.
Like there is something that's almost part of the vibe now is like not touching it is its thing.
But it's a risky fucking play.
It's a risky play.
If any one of your assumptions ends up being wrong and is invalidated by the world and your vibe is we can never change the thing, it's concerning.
If Bitcoin, if anything can pull it off, Bitcoin can.
Like the vibe of like strong money, hard money, whatever, as long as the world doesn't invalidate.
any of the Bitcoin priors. I think we're okay.
But yeah, here we are.
All right.
We've got a few more minutes.
Let's wrap it up
with some
more nonsense.
Pump bounced as
meme coin volume creeps back.
It does feel like meme coins are back. We got a little bit
of a meme coin. We got two meme coins today.
We got a bit of a
bit of a meme coin resurgence.
I don't know if this feels like early
2023 where meme coins were like starting to to rip again and we're back in that or if it's like the
lost vestiges of you know a thing that's that's almost dead a little bit of a dead cap bounce
um but pump fun uh is up like 25% in the past seven days because meme coins are on on solar back
um and uh i'm i'm really curious your take on this because i also found this uh horrifically
bad white whale and penguin like like i was like penguin come on guys like can we like let's pick
something else right like that that was pretty what is penguin penguin was this to do with it was the meme
there was the meme the video of like a penguin that's like walking into the in in greenland or
whatever that one yeah yeah and it's like he keeps trying to like walk to the mountains or something right
um yeah yeah that
was a bit on the nose when they went.
I was like, we have a penguin token, guys.
That's one to just air drop people,
$2 billion to the faves, you know?
Yeah.
What have you done for us lately, Rico?
So, yeah, like the trenches are the trenches.
What are you going to do?
But, but yeah, they've also been little buybacks.
Buybacks are back, I guess.
So, yeah, we'll see.
They bought a quarter of a billion dollars
worth their own token back. It's pretty crazy.
Like, you know, the state of the trenches, the state of
alts right now that you could buy a quarter of a billion dollars
of something and it doesn't moon in the most insane way, like, is nuts.
It's really nuts.
So, yeah, it's still below the ICU level.
Well, and I feel like most of the meme coins,
are that are doing stuff right now.
It's like you have a very select situation with like a lot of like momentary attention
and you're capitalizing on these people that have capital that are like willing to throw it
into the meme coin or whatever.
But I don't feel like that's deeply like the meme coins are bad.
I feel like it's, you know, it's going to be the meme coins are going to be another like tool in the tool just,
so to speak, like thing to do in certain situations.
right but it's not i don't know we need something new to do guys i'm bored i mean i have
teeth back i wouldn't mind they were way cuter so oh i'm they wore more fun than this is yeah yeah this is
uh like i you know i don't i don't like i'm kind of here for any crypto activity on some level
especially if it's like a little bit more organic like the biggest issue for me with the meme coins was like
the sniping and bundling and just like mass extraction like that that was really grim but you know something
that like pops off that over the course of like a few days gets like a bit of momentum and and you know
people get excited about like I'm not going to sit here and poo poo that that's that's fine um but yeah
the the like inorganic sniper bundler like bonoer like
momentum stuff that was going on for so long.
Like that was not amazing.
All right.
It's been fun.
Good luck with your flawed potting or mold potting or whatever it is that you're doing.
Spotting.
That's it.
For this episode of Uneasy Money, thank you all for tuning in.
If you like the episode, follow us on the Unchained Feed on X, YouTube, or wherever you get your podcast.
And we'll see you next week.
