Speaker A
[music] [music] Heat. Heat. [music] [music] [music] [music] Hey, [music] [music] hey hey. [music] What up? What up? Good morning. Good morning GMG.
Decrypt discusses Trump’s $1.2B crypto earnings, a major stablecoin launch, and interviews the FOMO app founder on crypto trends and market updates.
Ask about this video. Answers come from its transcript only — with the timestamp, so you can check them.
Generated from the transcript and can be wrong — check the timestamp.
Key Takeaways
- Trump’s crypto earnings highlight growing mainstream involvement in digital assets.
- Market sentiment is cautious with lowered price targets and regulatory hurdles impacting crypto valuations.
- Stablecoins and DeFi wallets continue to innovate with new product launches and integrations.
- NFT market remains active with significant sales and new buyers entering the space.
- User-friendly crypto apps like FOMO are crucial for onboarding new participants in the ecosystem.
What the video covers
- Trump disclosed $1.2 billion in crypto earnings for 2025, a significant milestone in crypto adoption by high-profile figures.
- Circle’s stock dropped 17% following the launch of the Open Standard 17 stablecoin and removal from Russell indices.
- City Bank and TD Cohen cut their 12-month price targets for Bitcoin and Ethereum due to regulatory and market concerns.
- Crypto market showed modest gains with Bitcoin around $59,300 and Solana up 3.5%, while some altcoins posted double-digit gains.
- Meta announced entry into the data center business, causing a 7% jump in its stock price.
- Phantom is expanding into derivatives by hiring market builders from Hyperliquid.
- MetaMask launched a combined stablecoin yield and spending wallet called Money Account.
- NFT sales, especially CryptoPunks, remain strong with notable high-value transactions.
- The FOMO app founder discussed onboarding new users and the app’s recent $75 million funding round.
- The hosts also covered ongoing World Cup updates and fan energy comparisons.
Chapters
- 00:00Intro and World Cup Discussion
- 03:24Crypto Market Overview and Price Updates
- 06:41Detailed Market Rundown and Bitcoin Analysis
- 09:07Price Target Cuts and Market Sentiment
- 11:53Ethereum and Altcoin Market Insights
- 17:37NFT Market Highlights and CryptoPunks Sales
- 19:59Interview with FOMO App Founder and Funding News
- 24:48Closing Thoughts and Upcoming Shows
Full Transcript — Download SRT & Markdown
Speaker A
[music] Thursday. No, it's not Thursday. I have a feeling I'm wrong. I am wrong.
Speaker A
Wednesday [music] July 1st, 2026. Look at that. Another beautiful day to have a beautiful day.
Speaker A
Happy Canada Day. It is Canada Day. Did you know that, Tyler? Good morning. [music] It might officially be Canada Day, but here it is USA Day. Big match coming, uh, coming up tonight. We're playing two countries. They made us play
Speaker A
two countries. We were so stacked and Herzugina, do you realize how, uh, how, how, um, that's, that's unfair. It's the first time in history in a round of knockout round 32 that a team has to play two
Speaker A
teams. It's unbelievable. But there's squad up for it. It's us. They squat up. They're trying to squat up for the USA, you know. But thankfully for you guys, you guys are playing at home. Um, so, uh, you should, uh, you should
Speaker A
be fine. We did good yesterday. Went three for three. Three for three. Thank you. Thank you.
Speaker A
Another excited to get into it. But the US fans have their work cut out for them to match the Mexican fan energy because that was something else.
Speaker A
Brother, I have to give it to the Mexicans. Broke the curse, finally stopped getting knocked out in the round of 32. Um, you know, incredible racism displayed on, displayed on X as well. And, uh, [laughter] and, uh, and just, uh, you know, the night
Speaker A
before really [ __ ] with those Ecuadorians. Uh, which is a little crazy to do, but you know what? Home country, you know, you kind of do what you want, uh, on, on your turf. Yeah, space bar.
Speaker A
All right. Spotted, spotted the Mexican in the chat. There you go. [laughter] Anyways, another show. Uh, we, we'll do World Cup at the end. All the recaps and stuff once Say leaves. But we got Marcus news. Then we got founder of FOMO app
Speaker A
recently raised $75 million. Whoa, it's a lot of moola. Uh, coming on the show, uh, obviously the news, but also like update, right? What's up with FOMO and stuff. So should be a good show. Great founder. Um, doing great
Speaker A
things in the industry. And, uh, and then at the end, we'll get back to our regular scheduled World Cup programming.
Speaker A
Let's go, Tyler. [music and singing] and cryptos. [music] Yeah, folks, we've got some green out there this morning on the crypto board.
Speaker A
A nice little bit of relief. Not a whole lot. Bitcoin up half percent 59,300.
Speaker A
It was down the 57s last night briefly though. Kind of a crazy wick late, uh, Tuesday evening. ETH up 1% 1,590. It feels like it's just hanging out in this like 1,570 to 1,600 zone. So, not a whole
Speaker A
lot of action there. Solana continues to grind up though. Solana's up three and a half percent. $75.76 up now 10% on the week. Hyperliquid red surprisingly at 6,390 down 2 and a half percent here on the day. There were some big alt
Speaker A
movers. Jup the Jupiter tokens up 15%. Morpho up 14%. Uh, and then XLM up 12%. So, a few double digit movers. We will take it. Looking at broader markets, stocks open to red.
Speaker A
Looks like they're kind of coming back to even here. The Dow's flat after closing what was the best H1 in five years. Uh, so we know the Dow's been on a hell of a run. NASDAQ's down .3%.
Speaker A
Some news out of Meta. Meta is getting into the data center business. Their stock jumped 7% on the back of that. And it looks like Kevin Worsh giving, uh, a talk at the ECB today. I believe rates did spike on that. Uh, the 10 year up
Speaker A
they spiked and then have come back down about, uh, four, four points. So, so nothing too crazy. Oil continues its slides at $69 a barrel. Gold hanging out. Oh, gold's up 1.6% 4,100. So, uh, some nice looks like some green out there here
Speaker A
today. Getting into some of the headlines here. Uh, arguably the biggest news last night. Dry covered this. Uh, Trump did a disclosure and he made 1.2 billion in crypto earnings in 2025. A pretty significant number there. City Bank, they cut their
Speaker A
12-month price targets for Bitcoin from 112K to 82K. Cut their ETH target from 3,175 to 2,240. They're citing outflows, slower regulatory progress, and debt concerns there. TD Cohen also cut their strategy price target by 35%. So, some big cuts out there. Um, Circle stock
Speaker A
fell 17% yesterday on the back of that open standard 17 stable coin. Yeah, that was a, it was a very rough day for Circle. I haven't checked on it here today. They also got removed from a Russell some Russell
Speaker A
indices, um, which didn't help. It's rebounded back up 4% today. So, getting some of those losses back. Um, going through the rest of this, Phantom is going deeper into PERS. They're hiring market builders from Hyperliquid, uh, as they
Speaker A
continue going into derivatives. Then, MetaMask launched a money account, combined stable coin yield and spending in one wallet. Memes, uh, nothing too crazy though. I did, I was looking at the memecoin dashboard. New graduates are at like five month highs. So, there's
Speaker A
actually the trenches are coming to life a bit. Um, whether that's good or bad, up for debate. And then in NFTs, punks, the strong week for punk sales continues and either shout out or pour one out for our good friend Jeeps sold his cowboy
Speaker A
punk 100 ETH and the wallet who bought it has $32 million in ETH sitting behind it. So he might be shopping for more.
Speaker A
And that is our rundown. All right. Uh, great rundown. Where do we start? Let's just go Bitcoin quickly because that's like a 5-second check-in.
Speaker A
Gold etc. Mhm. We, we, we're holding 58 for now. So, there's that. Strange wick. Try to zoom in if you can.
Speaker A
Um, what, 15 minutes or something? We made a new low last night. Oh, we did. I see it. Yeah.
Speaker A
Here. Yeah, we did. Here. This one. Is that last night? No. Did we? Are you sure?
Speaker A
On Hyperliquid, I'm seeing 577. Um, it was a very fast wick, so maybe it didn't even get into, yeah, that view.
Speaker A
There was some speculation. Was it Sailor selling? Yeah, you're gonna get that. I feel like now, now that he's been approved for the 1.25.
Speaker A
Anytime Bitcoin goes down like that, we're gonna see. But yeah, we're kind of ripping right now. Back to 59.7.
Speaker A
Ripping, flying, soaring. Stretch is back at 87. The stretch that they probably pumped that back up to par, right?
Speaker A
Which is a, I mean, if you bought the dip [laughter] it was a risky dip to buy, but and this thing was 75 bucks for a few trading sessions. So, you're, you're up 20%.
Speaker A
You could probably buy it on Can you buy on Hyperliquid or no? Uh, you know, I saw someone on Twitter saying that they, they did and they were like collecting funding like Yeah, you can buy it on Hyperco. How about that?
Speaker A
And, and it is even better. So, you don't even need the trading sessions for it.
Speaker A
You get paid 27% to be holding that, though. I don't, I'm assuming you don't get the dividends.
Speaker A
No, no, of course not. On Hyperliquid. 20% bump on that. Not bad. Stretch blowoff bottom. Ox Dan says, "Yeah, blowoff bottom." kind of like yeah Sailor I think the question is and maybe we'll never know or maybe we'll find out next
Speaker A
week is this Sailor buying stretch back? I think a lot of folks have said like the move for him here Bitcoin the cash get stretched short up is that what's happening or is this or is the market just doing it for him
Speaker A
because there [clears throat] was like this rebound and stretch has come when Bitcoin is flat right? So [snorts] yeah, and Bitcoin is totally flat over the last since June 25th. So that's the last week or so. So stretch is up 20%
Speaker A
against Bitcoin in that time. So it certainly could be Sailor selling. So we, we'll find out what the driver is.
Speaker A
I, I thought it was interesting at the same time [clears throat] uh, this what the new city the city cut. Um, so city did cut its 12-month price target for Bitcoin. They previously had it at 112K.
Speaker A
They reduced it to 82K. Jesus. And it's kind of like the same bear case that we've been talking through. They cited the ETF outflows.
Speaker A
Yep. Slower regulatory progress. So probably saying the clarity's not going to pass. And then debt concerns are kind of dancing around the whole Sailor thing.
Speaker A
Those are Clariacs.
Speaker A
You know why? Why, tell me the the Trump 1.2 billion. Like whether you like that or not, objectively, that's just another, you know, another factor that's going to drive the dens to stay very strong on separating the Trump
Speaker A
family from being in crypto dealings. And that's arguably the biggest roadblock for that bill. We know that the clock has been ticking. It was it was unlikely to to go through anyway. I think that makes it even harder. So,
Speaker A
yeah, this is a new low for the Clarity Act at at 40%. So, our our quant Sander, you know, he he he said to short it at 75%.
Speaker A
It's looking pretty good. Good. He gave you all the trade. Uh and on the ETF outflows are extended. June ended up with $222.6 million in net outflows. um trad the last day of June had 200 the last day of June. My bad.
Speaker A
Yeah, I actually don't have the June total, but it it's in the billions. Like we're talking four or five billion.
Speaker A
What are the ETF outflows for BTC in the entire month of June? I'll ask u we'll ask the robots and see. It's a lot. I think we went over the numbers the other day, but it's 4.51 billion.
Speaker A
That's per GPT. So obviously sometimes it's off a bit, but it can't be. I don't think it's off. Yeah, that sounds right. From this week I was doing May was two. And by the way, that was falling of minus 2.4 billion. So we're
Speaker A
like back to back. We're at 7 million total like back to back. There you go.
Speaker A
May and June. So the ETFs are are net sellers. Let's ask about what about Ethereum? Let's ask about Ethereum just to just just out of curiosity. Must be just as bad, right? In terms of like comparison.
Speaker A
I guess not. 270. That feels low. I would have thought it was a little higher than that. I'd have to go back and double check that.
Speaker A
We'll double check, but it's still I mean, yeah. Interesting. So okay so it's.3 to 0.5 yeah billion okay around those numbers interesting I mean not so interesting not great but uh those are the numbers um yeah everyone worried about sellers selling when they
Speaker A
should worry about the real ETFs I mean yeah cuz sellers are always trying to find a way to try and not sell right at the end of the day but the ETFs are just straight up like slamming the cell and
Speaker A
uh repositioning and like you know whether it was AI microchips at some point and now you've seen some madeup meta rotation, um, etc. So, there's, um, there's everything going on. I do want to talk about the circle thing,
Speaker A
um, that you mentioned because we talked about it quickly yesterday. So, Coinbase is like double dipping here. I read more into this.
Speaker A
They're like the butcher and they get to eat the steak. It really does feel that way. So, Coinbase already partnered with Hyperlid, right? which was kind of a a shot at Circle and now they're signed on for this new OpenUSD and I read
Speaker A
yesterday but for anyone who's who isn't aware OpenUSD is a direct competitor to Circle and Tether like they're they're trying to be as business friendly as possible. They let businesses mint redeem for free with no caps. They give
Speaker A
them all the earnings on the reserves back which is like that is the entire stable coin business effectively is capturing that 4% yield on the treasuries that you hold. And so for OpenUSD, they are going to give that
Speaker A
back to their customers effectively. Um I think Nick Nick Carter, who's been like a loud voice in the stable coin game for a long time now, said the race to the bottom is is on. So Oh, it's definitely on. Yeah.
Speaker A
And like this I think some people interpret it as folks saying like if you're bare circle that that circle is going to zero like no I don't think circle's going to zero. But like their growth story is drastically changed,
Speaker A
right? And if the stock price is is pricing future growth, like that has to be rerated.
Speaker A
Absolutely. Like this. So that's my view. Absolutely. I mean, the stock's still 70% off alltime high, so I'm not saying short is, [snorts] you know, the best.
Speaker A
Yeah. But it's not enticing to buy it either right? It could be just fairly valued now or lower. You know what I mean? Like it could Yeah, it was having a good cycle. like it was kind of like starting to come
Speaker A
back this year. They had a nice rebound. They were like 2.5x off the bottom and then um and then there you go. So that was that um that I um that uh that I saw. Uh what else? Just
Speaker A
seems like you have a few points here. First, you know, one I didn't cover um there's some big token unlocks coming. Cool.
Speaker A
In July from We don't talk a ton about token unlocks on the show, but uh I just sent you the link. Pump is the notable one. I think most people know this is coming, but I saw it written down. So 20% of the of
Speaker A
the supply is coming. 20. [snorts] [laughter] You know what's going to happen, right? You pump into unlock. It could be a trade.
Speaker A
I you know that was the first thought that that popped in my head. We know this is the worst one of the worst charts in crypto and it makes no sense to me, but [snorts] like is this going
Speaker A
to be a sell a buy the news because like everyone's just been front running and dumping this thing for months and months ahead of this unlock and like now the unlock's finally going to be here. Is it just going to be the
Speaker A
moment of relief effectively or is the 20% supply just going to continue to dump and it'll be obvious in hindsight?
Speaker A
Uh these [clears throat] things are always tricky to play. Um, zero has this this one of the other big unlocks coming. They got four and a half percent. We knew those were coming, but those zero ones are starting to slow
Speaker A
down. So, that I do think that's an interesting one to to follow here into Q4.
Speaker A
Um, ENA has a pretty big one here as well. Yeah, it's great news as well, right?
Speaker A
Um, so that's interesting to follow, huh? How is so Salana is green. So Salana is up 5% leading the what's at 77 while 60k live. Nice. So we're getting some nice green candles today. Trying to see what pump is doing. Pump up 2.7% 1.46
Speaker A
billion FTV. Okay. I don't know. Kind of weak actually given like it's a black hole is losing steam. Is it the market? We got okay not that much but like a little bit. Is this a buy? I was saying
Speaker A
yesterday I text my friends like please 30% dip and then it dip 30%. But um obviously when I'm in bed yeah the big volatility I feel like happens around like midnight midnight to like demon hours.
Speaker A
My question for this one is very simple. There was enough liquidity to sustain it to this price which is already very impressive. couple days 150 mil 170 mil.
Speaker A
So this is huge. Is there enough liquidity now to take it to the next level with all the air drops that he's doing? So the more the air drops are going the more supplies in the hands of people that are more prone to selling
Speaker A
because the whole purpose was give people a sty. So the purpose is to get people money in their hands, right? So can't blame them for selling.
Speaker A
Is there enough juice in this economy for a next leg up? That's the question. I mean, so this is also the the level where Asteroid stopped over on ETH, uh, which is like kind of the I would say the last big meme run we've had
Speaker A
before that. It was like the White Whale and and the I think White Whale did get to 200 or so. Um, this has [clears throat] been our stopping point.
Speaker A
Basically, it's been really hard for tokens to push past like that $200 million level. And if you're buying here at 140, like you have to have a target well above 200.
Speaker A
Um, I don't have a read. I I really don't. So, I'll just be kind of watching. I I am still holding. I'm gonna hold through this. I think if it goes if it goes back to my entry at 80,
Speaker A
I'll probably cut, but I I'll ride it till then to see if we get a little bit of upside still from here. Um, so like the most interesting trade on chain I think it is uh is fair to say.
Speaker A
The thing is like there's like this narrative like He's aird dropping the trenches when pump fun wouldn't and like I I like that but you realize like for those airdroppers to to sell and realize that profit you need someone
Speaker A
we're also we are collectively funding the airdrop is yeah it's it's it's the loop right there yeah so you have to understand exactly what mechanics are are going on here so yeah so there's that thought that was interesting Um, [clears throat]
Speaker A
and a few other things. See, you mentioned a few things I thought were quite interesting today.
Speaker A
Punks. Punks. Yes. Sorry. I mean, again, we talked about him quickly yesterday, but Jeeps, that was his. No, I recognized that one.
Speaker A
Surprised. Was it a mistake listing? Jeeps. Oh, no. My my book sold overnight. My punk sold for 99 ETH. For 100 ETH.
Speaker A
Congratulations, Jeez. That's awesome. He's held it forever. I'm so for a long time. Yeah. Three years. I mean, okay. I thought longer, but still a lot. Wait, no. Longer. Yeah. Wow. Is that I can't 21 for 11 80th 11K.
Speaker A
Wow. What a February. It went like boom. Like that's like right. Like you bought two months after this. It's like 10x.
Speaker A
Yeah. him and Peter like they were they were early. It's like nice punks right in that time frame.
Speaker A
So, congrats to our boy. So, you were telling me some interesting statistics about that wallet, Tyler.
Speaker A
Yeah, Jebs, of course, first and foremost, but I was chatting with an anonymous. We're in a trading chat together and he pointed out that the wallet that bought that punk has 33 million in sitting behind it. It's all staked. Interesting.
Speaker A
Yeah. 20 million in liquid staked ETH. Another 7 million in wrapped. Yeah. So, they're pretty liquid. Let's just say that. Um, still has 211 E sitting in the wallet as well, which makes me feel like they're going to spend that. Um, what could they buy
Speaker A
next? So, love Jeeves. Incredible sale. I mean, incredible buy by him as well. I will say my reaction this morning is Jeb's selling the bottom who I mean not of his punk but if it was a floor punk maybe you know what I mean
Speaker A
it's still 100 E dude 100 150k it's it's a big chunk it's three floors I'm trying to think through like what I would what I feel like could outperform like what's the if you're going to keep this in crypto how would you like what
Speaker A
do you think the trade is to outperform punks over over like the three to five year time horizon.
Speaker A
Think I Yeah, that that would be the only play I think that I would be confident enough in to like if you're going to throw the whole proceeds into one trade, it would be that. But I don't know.
Speaker A
He also sold there's four punks that were cheaper than his. So, it's actually good sale.
Speaker A
Well, that's what's crazy. So, go to the sales. I mean, there is some not just the Cowboys.
Speaker A
Oh, the casual sales. Yeah. Yeah. It's only like this this heavy duty selling. Like it's not floor buying going on.
Speaker A
There's no floor sweeps. I'm still not listening. I'm But like look, the the big shade sold for 80.
Speaker A
This one's nice, too. Look, it has a secret. You can't see it, but there's a secret trait here.
Speaker A
Yeah, OTC bought that one. So very into the blue bandana is a single trait. I wondered why that one fetch 60, but yeah, it's a it's a one trait, so that makes a little more sense. And then the
Speaker A
the albino big shades. It's a pretty big sale just for a very like a nice aesthetic punk. Um they're moving. It's been a nice little week. So it looks like there's some fresh buyers in the in the bidding pool. So that
Speaker A
so those will those SpaceX employees stand up. Please stand up. If you work at SpaceX, please stand up.
Speaker A
Please stand up. which SpaceX also bounced by the way. Yeah, it's back to 170 yesterday.
Speaker A
Yes, sir. Didn't buy, but looks looks good. You know what's looking really good Ty?
Speaker A
And that we actually we actually sent the buy signal. So, you know, because obviously we talk about a lot, so it's easy for us to like claim. Oh, we talked about it. But that one we sent the buy
Speaker A
signal. We said we told people it's a buy. I'm going to show you right now.
Speaker A
Peptide summer papa. $37. Hymns. I I didn't even see this. $37. We called it at 18 bucks, my friend.
Speaker A
Wow. That is quite the move there. That's a six-month high, year-to- date high. Yeah.
Speaker A
Wow. That's a little surprising because like the FDA news I thought was going to be coming across as bearish.
Speaker A
They're still the bread. It's the thesis, right? They're still the bread, right? And also like keep in mind like forget the peptide part. Like their hair products are [ __ ] good, man. I've seen Obie's hair. Jesus.
Speaker A
Oh, I meant to ask him about his hair. That that's nothing. Yeah. But I'll tell you about his hair cuz the boys chat's all over it now that Obie's working out. Like I'm good for now. Knock on wood. But I know
Speaker A
a few of the boys been asking Obie. Yeah. Like what what's with that? Cuz we're getting pictures from him, right?
Speaker A
Yeah. He's sending family pictures every few days. Dude, his hair gets fuller and fuller. This guy's like a full head of hair.
Speaker A
All right, it's crazy. Um, and he's not getting any of the side effects. Like, he's like fully gone.
Speaker A
That's great. I I think I'd heard about some of the side effects that's been uh maybe preventing me, but I'm in on looks maxing. Looks maxing summer.
Speaker A
Yeah. I mean, you have to try small amount and if the side effects don't hit you, right, it's 2% of men that get affected.
Speaker A
Okay, it's not bad. No, it's fine. We'll roll the dice for a nice full head of hair.
Speaker A
The worst one is Well, yeah. Yes, you may have problems down there, but the I think the worst one arguably is like the depression part. Like some people get a little bit of a depression, but you're so bullish that I I I could He's such a
Speaker A
big bull. I have a hard time thinking that you would get affected like that.
Speaker A
[laughter] Yeah. I mean, that that's an easy cut, too. If you start feeling depressed after [laughter] after taking a new drug, you probably just cut the drug.
Speaker A
Um, HIMS is great, though. Like I I started taking which is like a vasculation drug off brandialis and I got it through him and I will just say like the user experience is fantastic. It really is.
Speaker A
You like you chat with a a robot doctor for a couple minutes, you get approved, you get it in the mail in a few days.
Speaker A
Pricing is competitive. Um so they've got a good shop running and I'm long. I actually am long, too.
Speaker A
I've got some options on this. Um, so excited to see where him goes from here to the last.
Speaker A
Yes, same here. And then there's the last news while we wait for producer Charlie, but this uh the Donald Trump news. I mean, it's $1.2 billion.
Speaker A
Jesus. It's a lot. It's just like one that it's the head like you kind of knew it, right? Like we knew they made a lot, but it just kind of hits you again when you see it in headline form. So he made 635
Speaker A
bucks 635 million from the Trump memecoin. Um basically how like royalties and the licensing agreement they had with the company that launched it. And then um 588 million net proceeds from token sales from World Liberty Fi uh is the
Speaker A
the headline. That's basically how you get to 1.2 billion. And then he is still holding some crypto. So it looks like and you don't get the exact totals in these disclosures. He's holding at least 50 million in Bitcoin and between five
Speaker A
and 25 million in ETH. So, I mean, if you just saw that headline, like, oh, okay, maybe bullish, but that's like less than 10% of how much he made overall. So, I think when you see the whole picture, it's not it's not
Speaker A
quite as much. I appreciate the bulls trying to spend this as Trump's long Bitcoin. That that should be good. Um, I don't know if I'm ready to to get there necessarily on the back of this.
Speaker A
I mean, if it was bullish, the market would have priced bullish. Yeah. Right. And it's not. We got rejected off 60K.
Speaker A
Feels like we're just kind of in this chop. We're going to keep rejecting 60. We've rejected 60 a few times now. And every time gets more bearish.
Speaker A
So KBM I know I see say we'll get him up. KBM said the march to 50K begins now.
Speaker A
No, he said that yesterday, right? Yeah, he did. Him and a few others. I don't know. I mean, that prediction looks Oh, wait. Here his last tweet. His last I I love KBM, dude. I I really really love him, though. Like, he's also a
Speaker A
really close friend of mine. Hear me out. But, you know, that but he's a traitor. He Everybody be nice to keep Core Monkey. Okay, hear me out. BTC is along here for a little bit. And then of course someone had to remind him of uh
Speaker A
of the other stuff. Yeah, he he he's beloved for flip-flopping on Well, he's a date he's a date, right?
Speaker A
Of course. Um well, whatever. I have no problem with it. Yeah, I know. It's so funny. Uh this is great. Anyways, speaking of the trenches earlier, we have the man behind the app that is lighting those trenches on fire.
Speaker A
We have Say Hold up. We have Wait, wait, why can't I click the button? There you go. We have Say, founder of the FOMO app, which just raised $75 million and is growing at the speed of light despite
Speaker A
this market. Say, welcome back on the show and your second time caller. Good morning. How you doing? Morning, man.
Speaker A
How are we doing, dude? We're good. Markets don't affect these big bulls over here. Um, well, a little bit financially, but besides that, [laughter] we're doing great. So, it's good to have you, S. I'll hand this over to Tyler. Of course, we have a few
Speaker A
things uh to talk about. First of all, congratulations. Of course, seeing the news of a of a founder uh getting such backing and I noticed some institutional one is is always really good for the space. So, congrats on that. Um, and of
Speaker A
course, unless you live under a rock, you should know what FOMO app is. But, you know, I have to ask if you want to give us maybe a reintroduction of yourself of the FOMO app, then I'll let Tyler take it from there.
Speaker A
Yeah, for sure. I mean, in the simplest way, it is just a trading app for the rest of us. It's something that's very easy to onboard to to use to to really get connected to the ecosystem of crypto, whether it's spot or per, you
Speaker A
know, eventually other things. So, you know, easily sign up and pretty much get onto the same technology that everybody else is using without having to understand, you know, all the frictions or what blockchains are or how these things kind of interconnect. So, yeah,
Speaker A
happy to be here, guys. So, I mean, congrats again for set at 75 million at a $550 million valuation. It it was eye popping. I think it kind of caught all of CT. Um, I don't know by by
Speaker A
surprise, but like it it was, you know, the story of the week led by Index Ventures. Union Square is in there. Um, I'm curious like from your perspective, what did they see in in you, the team, and the app to help command such a such
Speaker A
a big raise here. Yeah. So, Julia, who um is at Index, she wrote a really good post on the Index Ventures website that kind of described like their thought philosophy here. And I think you know USV and others also
Speaker A
kind of echo the same thing which is things are moving on chain right trading is something that is going to be global.
Speaker A
It's going to be something that is um likely on crypto guardrails at least to some extent and it's going to be something that allows more and more people to invest over the course of time and you know access the technologies
Speaker A
very easily. So whether you're, you know, in the US or Europe or Asia or wherever, you can globally access assets across the world. And I think that's something that, you know, markets have generally struggled with where everything has been mostly localized to
Speaker A
wherever their home region is. I'm curious. So I think I think most people are kind of coming around to like the idea of the everything app and I think you guys were early to it. We talked about this in our last interview
Speaker A
with you. Like what do you see as your edge in the everything game? I think our edge is precisely that we we actually think that everything app is probably slightly flawed and you know being more intentional is actually the way to go
Speaker A
where you know I think at first maybe the vision is great okay we won't do everything but then you start to kind of carve out a niche of we want to be the best place for people to never miss out
Speaker A
again right we want it to be the place where you can come in you can trade spot assets you can trade stocks you can trade perks you can trade prediction markets essentially our job is to figure out where the puck is going and support
Speaker A
the infrastructure and the experience so that anybody can access this thing that you know they should be able to access all along. So I would say that our focus is entirely on making sure that we can create an experience that just lets the
Speaker A
normal person and also the the crypto user just understand what's going on and know it's in one place rather than disperse across many different apps.
Speaker A
So So where do you think that the puck is going? I mean that's a great seg uh from your comment there. I'm I'm I'm very curious myself because I feel like we're all kind of like we're in this uh
Speaker A
transition period right now. We don't know exactly what what is coming next. Curious. Yeah, I mean I think it's it's TBD, right? But there's a lot of things to be excited about, right? I think perfs are kind of becoming mainstream for the
Speaker A
first time. I think attention assets are starting to come back in some form and there's this constant flux of like the game revives itself over and over again, right? Like what what it looked like last or even last month is not the thing
Speaker A
it's going to look like in the future. So trying to understand how can you support whatever that thing is in what shape shape or form it takes is really important. That might mean a new chain, that might mean a new standard, that
Speaker A
might mean a new launch pad. Just being always, you know, close to the ground on what users are looking for and trying to solve some of the issues that are kind of plaguing um I would say today's launch training experience.
Speaker A
I'm curious uh if you can go into maybe a little details like it's a lot of fun, 75 million like what are some of the plans? I think I you mentioned perhaps some acquisitions uh but would love to hear a little bit
Speaker A
more uh about what your customers are thinking. I mean definitely I think a lot of people when they give you these answers they they actually don't know right.
Speaker A
It's kind of like best guesses on hey I'm pitching this to a venture capitalist firm or I'm pitching this angel so I need to have exact reason for I'm going to use the money. I I tend to think like it never plays out that way.
Speaker A
And for us, we're a little bit more realistic, right? We understand there's some opportunities that are worth pursuing, whether it's growth or infrastructure or just expanding in various regions of the product itself.
Speaker A
But I think for us, like we're still unsure to be honest, right? Um we we just found a really good opportunity to bring on good partners that have scaled businesses to, you know, hundreds of millions of dollars. And I think that
Speaker A
that's invaluable and probably will be a lot more worthwhile than the money over the course of time.
Speaker A
That makes sense. you know, as as a part of, you know, the announcement like FOMO adding 3,500 users per day. I think what what's been notable about that, it's it's been largely been during a time period where Bitcoin fell 50%.
Speaker A
And it it some people argue about whether we're in a bare market or not.
Speaker A
It it certainly feels like we are in a a bare market. So like what is your interpretation of that?
Speaker A
Yeah, I mean I think that there's always like there there's a disconnect between the number of people who are doing something and the number of people who want to be doing something, right? I think that even in bare markets that
Speaker A
that gap is quite wide. Um and this is analogous to really anything in life like you know there's a lot of people who want to play basketball but not everybody gets to play for whatever reason or you know a better example
Speaker A
might be hockey or golf or something that requires a little bit more equipment. And I think if you tomorrow came out with um a device that you know was let people just start playing golf at you know a tenth of the cost or a
Speaker A
tenth of the friction you'd probably see that you know number of people increase by an order of magnitude pretty quickly.
Speaker A
So I tend to think we're in a similar boat where crypto has done a good job of creating technology. It's done a really bad job of creating for the non-crypto user right even wallets like MetaMask and Phantom who have paved the way for a
Speaker A
lot of you know the retail users who are interested to get involved. there's still quite, you know, a lot of friction in there. And I think the easier you can make this experience, you know, the more you can actually expand the pie of
Speaker A
people who might be potentially interested and then you can obviously work on onboarding more of the people who are interested but maybe not interested enough to actually go and figure out how to set up a a Cphrase and
Speaker A
connect to, you know, the right exchanges and DeFi apps and all this kind of stuff.
Speaker A
Well, I mean, you guys certainly have this huge user base which is giving you also this treasure trove of user data as well. So, I'd love to dig into it a little bit. So, like what are you seeing? Like what are users trading
Speaker A
right now? Like is is it still like is it mostly memes? Like like what is the the story that you're seeing?
Speaker A
Yeah, I would say there's not that much correlation at the moment, right? It's it's random of day or week or whatever, but I think the hottest topic of the uh the week is Anom token, right? So, everybody's trading that. Um and and I
Speaker A
think there's quite a lot of activity on the app itself. So, it's cool to see people just, you know, especially the views and do it all in one public since it's been a while since we've had a coin
Speaker A
with a lot of momentum. Yeah. So, I I was talking with D's yesterday and, you know, he found out about the Anom pump via FOMO. He was getting the FOMO alerts on his phone all day, like Friday, Saturday, whenever it
Speaker A
was going off. Uh, so like I guess I'm curious for for your reaction to that.
Speaker A
So, like are you rooting for that? Are you just neutral? um like when you see like the big runner of the month, did like do you and the team like lean into that? I'm just kind of curious kind of what like what goes
Speaker A
on behind the scenes during events like that? We we try our best to support every token, right? We we're a neutral platform, so we can't, you know, put you front and center. We can't always be, you know, doing campaigns or, you know,
Speaker A
incentive programs or whatever. Um and historically, we've done very little of that generally, but we want to see everybody win. We want to see tokens have higher ceilings. We want to see people have good experiences. is we want, you know, the infrared to work
Speaker A
when, you know, there's high times of volatility and we want this to be something that's like longer lived. I think the thing that we've always been focused on is how do you actually create more longevity and, you know, get rid of
Speaker A
the short hold times and the PVPing and scalping and all these kind of things that ultimately are not interesting to retail. So, it's something that we're obviously rooting for. Um, not just this token, but every token to do well and to
Speaker A
have a good team and a good community behind it. [snorts] I'm curious. So, you guys have expanded across chains now. are like are there any specific chains like winning?
Speaker A
Winning might be the wrong word, but like I guess is are there any any data points that jump out uh or or trends from which chains might be being used more or less or anything surprising there? I'm kind of curious.
Speaker A
Yeah, I think Salana is just the most dominant chain when it comes to trading by far on, you know, any given day. I think they do quite a lot to make sure that that is the case, right? they
Speaker A
support a lot of these projects whether it's per or or other dexes or prediction markets or you know narratives like they're just very entrenched in I think making sure that this is the place to trade anything obviously you have your
Speaker A
moment of base of B&B of monad you know whatever else um but nothing's really had the longevity of Salana right like we're talking four or five years now of just dominating trading for for blockchain generally [snorts] it does feel that way and I think a few
Speaker A
other chains have made a run the Robin Hood chain now is out there enlisted on decks as well, but there's a catcoin running over there here this morning. So, there's another chain uh to watch out for. Um I'm
Speaker A
curious from like a risks headwind standpoint, like what is facing FOMO? Like is there anything that like keeps you up at night? Like what do you see as potential roadblocks as you continue to to build out your growth story?
Speaker A
I [snorts] I think it's all things out of our hands for the most part. Um I think we know what it is to build a product. We know what the users want generally and we stay pretty close to
Speaker A
that. But there's always uncertainty when you're building a business, right? Whether it's regulatory, whether that's markets, whether that's, you know, some externality that you didn't think was related to your product or product line.
Speaker A
And um yeah, I think for us it's just being aware of what's going on in the world, right? There's a lot of regulation being passed in the US or hoping to be passed around things like the market structure and clarity and you
Speaker A
know a lot of other things that I think will materially impact how people build in crypto. So we keep our ear close to the ground. We always try to stay you know above brow and make sure we're being compliant in every single way. But
Speaker A
yeah, a lot of that will help us determine how we can, you know, market to the right crowds and, you know, bring some of these products that people probably have been looking for for a while. And at the end of the day, I
Speaker A
think the CFTC is starting to recognize that some of the things they put in place are not necessarily working to protect consumers in the ways ways they thought and it might be hurting them. So yeah, we we want to be in a place where
Speaker A
we understand exactly what's going on, how it affects our business and how we can understand, you know, better strategy around the things that are upcoming.
Speaker A
Yeah, this is great question for you. I mean, of course, we talk about the crypto stuff a lot, but I find even in in for us with the Myriad stuff, like I'm trying to like really get outside of
Speaker A
this bubble as much as I can right now. I think even like from an institutional basis like investment space like I don't know crypto seems a little bit tapped.
Speaker A
Um and so you obviously you make claims of you know your growth etc. I kind of want to ask you so how many users what's the growth like monthly weekly whatever you want to share and you can share of
Speaker A
course and how are you getting those users that are not in crypto because that's arguably the biggest problem we have right?
Speaker A
Yeah. Yeah. So I think to date since 2026 started um so the last sixish months we've added about 3 to 3,500 people um new to the app every single day of these users you know maybe 1,000 to 1,500 actually convert to traders and
Speaker A
you know that's a number that we haven't optimized. So I think there's a lot of room there. Obviously like there haven't been enough things going on in the market for people to be materially interested. But I I think a lot of our
Speaker A
strategy revolves around marketing to the non-crypto crowd because crypto users and crypto individuals like we all are like we'll find a way to do the cool thing or the thing that's beneficial to us or you know the thing that's just
Speaker A
like better than whatever else exists out there. Hyperloop is a great example of that. They don't really do marketing but you find the thing at the end of the day since like that's our job and that is our role as traders and investors.
Speaker A
But for the normal person, you know, I don't really think they know that many of these things exist, right? Like that you can go long and short things on leverage and it's a lot more digestible than understanding volatility options or
Speaker A
you can go buy Bitcoin or Ethereum really easily or you can even buy, you know, mudang or whatever memecoin you've heard of in the past pretty easily. So most of our channels are traditional like UGC through Tik Tok, YouTube,
Speaker A
Instagram. A lot of iteration goes into that and I think it's more of an art than a science and it's evolving every single day with the algorithm. Um, and that's kind of where most of our users come today. I I've mentioned it before.
Speaker A
There's a lot of other verticals that we're interested in trying out, but yeah, that's the one we've seen successful so far and we're excited to try to scale that up.
Speaker A
No, this is uh this is great. So, you know, kind of like that's perfect segway that last question for you here. Say um you know, what are some of the exciting things you have coming up? I know of
Speaker A
course that's always a hard question because you can't really talk about too much of what's actually coming up but like where you know where what's the what's the direction let's say with northstar wise for where you want to
Speaker A
take this next. Yeah I mean we try to think in very short time frames. I think the next thing that we're really excited about is just making FOMO a lot more social, right? It's a good training experience.
Speaker A
There's thesis, there's notifications, there's leaderboards, but how do you start to create this like social graph of finance type of experience where, you know, you start to combine all the best elements of things like X and Telegram and Discord and where all these
Speaker A
communities live, you just create one application where you can see everything going on, communicate, converse and also transact and, you know, show your performance over time. So social V2 is something that's really important to us and I don't think anybody's really done
Speaker A
it quite right. So we're we're kind of like taking a leap of faith and hoping that we can take a leap here.
Speaker A
I love that. Well, congratulations on everything. Say excited to see where you guys take it and uh best of luck.
Speaker A
Thanks. Thanks, brother. That's great, man. Good for them. This this is the type of [ __ ] that makes me happy for the space.
Speaker A
They're crushing. They're crushing. I have a friend the other day. That's why I was asking like how the growth thing. My friend's like, "Yo, what's this for thing raising so much money?
Speaker A
How they grow?" I'm like, "Dude, they're killing." He's like, "I maybe he's been living under a rock type of friend." Like, he's not really on Twitter. He's very involved in crypto, but not really on Twitter. And he was like, "What the
Speaker A
hell?" And I was like, "Dude, you should just come listen to the show because these guys are actually cooking, you know?" Um, but anyway, useful. I mean, just just quick plug. I mean, I feel like there's there's like
Speaker A
the folks who are deep in the trenches and they have their trading groups, right? So, they know where to get info, signals. I think there's also a huge cohort of people who just don't know where to look and FOMO app is good for
Speaker A
that. Like if you want to be in the memecoin trenches and trading, you don't know where to start, get on the FOMO app, go figure out who the successful traders are. And just like D said, like he his phone was buzzing all day
Speaker A
Saturday as he saw the top traders buying some at $5 million, right? And like that's how you can potentially catch these big trades. And of course, there's risks, right? the trades don't always pan out, but um it is uh it's got
Speaker A
a real utility there. Yeah, you're right. You're absolutely right. Tyler, what are we going to do when the World Cup ends? Can we pivot to club football?
Speaker A
I'm already sad. And I shouldn't be like the tournament's just getting started, but I'm already like thinking about it.
Speaker A
I love that you became a fan. Like it makes me very happy. I love it. You're going to have to pick carry over by any means and I will plan to revive this in four years. Well, no, in two years the Euro every two every
Speaker A
two years, four years is the Euro Cup, which is really fun. Yeah, I know Europe been sucking, but there's a lot of hype. I was going to say, is Europe a good continent for soccer? It's clear to me
Speaker A
other than France. Shut up. You'll like it though. You You'll enjoy that one. Um, and they do these nations leagues. They've invented a bunch of like [ __ ] leagues, too, now. Um, which is cool. So, yesterday we
Speaker A
went three for three. Uh we called uh France winning outright. We said it was a blowout. It was a blowout. 3-0. I mean, can we just talk about how incredible this French team is?
Speaker A
They're good. They're just Where's the futures? Let's just see now what they're at on on Myriad for winning the winning all the 34%. Yeah.
Speaker A
Yeah, that's in line with Poly Market. That was an easy 2X, by the way.
Speaker A
Yeah. And they were like I mean they were that might be a 3x. I think they were close.
Speaker A
It was England, Argentina, France how the tables have turned. So there was your 2x. Uh so you can still put some money on France here.
Speaker A
Still some good value there. So not that bad. Um and then I go back. So we we got per France. We got Norway. We we actually even called Norway in regular time.
Speaker A
Yep. So, we hit that and then uh I didn't watch, but overnight we also hit Mexico.
Speaker A
Yeah. I thought Ecuador would show up better than they did. I I will just We said this at the intro of the show though, like that may have been one of the most difficult places to play like in the history.
Speaker A
It was insane watching it live just how loud it was just on TV like it came across. So, I can't imagine what it was like inside that stadium. Um, of course, the Ecuadorian players were tired after being held up all night with fireworks
Speaker A
outside the hotel, but I I don't really think it mattered. Like watching the game live, it was very clear that Mexico was better. And uh if we'll get there in a second, but the winner of England and Dr. Congo,
Speaker A
Dr. Congo, play Mexico and Mexico City. And I do not think that's a matchup you want. So, let's look. So far, bracket is we we've got it all right except for Paraguay.
Speaker A
So, that one's wrong. So, this is going to be interesting. So, I'm obviously thinking France, Morocco here. Um, and then this one, this game is going to be interesting. Brazil, Norway.
Speaker A
It's a really fun match up. Fun fact, out of every single team Brazil has played in their history, they have never beaten Norway four times.
Speaker A
That's crazy, right? So, I still think Brazil wins, but I think it's such a fun fact. And on the other side of the bracket, I mean, that's today, right? So, we'll see uh what happens today. So, let's get into
Speaker A
the let's get into uh our today's predictions. Uh well, I am going to go I'm I'm the I'm the England number one hater, but I'm going to go England to win in in regular time against Dr.
Speaker A
Congo. So, overview of the day, I do think one African team is going to win today.
Speaker A
Um, these African teams are tough and they play a bit of a different style than these European teams. Um, with that being said, I do think England pulls this one off and advances.
Speaker A
Um, so you're seeing Sagal, you probably have a better shot at that one. So then I'm going to go Sagal to win. I mean, Sagal to win $500 return $2,000 in in regular, of course.
Speaker A
Why should I be bullish on Belgium? I've watched the There's no reason. They've given you no reason to be bullish on them.
Speaker A
Watch Germany lose. They've given you nothing to be bullish on. Um I'm still going to go Belgium.
Speaker A
I'm going to go England, Belgium, USA. All in regular time. Yeah. So, I'll go England.
Speaker A
Oh god, I actually think that game is probably going to go to overtime. So, I'm gonna go regulation, England to advance, and then I'm gonna go Sagal regular time and then US regular time.
Speaker A
Oh, you got Dr. Congo in England to draw. I feel like one of these one of these matches is going to draw.
Speaker A
Look at that. Look at that. Look at that. Look at that. [gasps] I I kind of want them to stay on so you can keep calling him Dr. Congo.
Speaker A
Yeah, it's one of my favorite bits actually. So good. Um, how many more three day slate three game slates do we have? That's like a tomorrow, man.
Speaker A
Is that the last one? [snorts] Um, let me checking now. No, there should be one more. So, Friday probably.
Speaker A
So, we have today we have then we have uh Spain, Austria, Portugal, Croatia, Switzerland Algeria.
Speaker A
That's great. Oh, then we have Australia, Egypt, Argentina. Oh, wow. We have two more after today. So, we have nine more matches.
Speaker A
Big round. And then Saturday, France plays again. Let's go. France plays again on Saturday.
Speaker A
Yeah, bro. So, there must be two games that day. So, Canada's playing. Yeah, Canada, Morocco, and France thing.
Speaker A
And then the day after thingy thingy. Um, this is so hard for me personally because I'm like starting to travel and doing some stuff with the kids and the family over the Fourth of July weekend.
Speaker A
[laughter] It's like there's two and three games on per day. This is brutal. If France if France beats Paraguay will be playing on the second night of my wedding, I'm putting a TV, dude.
Speaker A
[laughter] I'm putting TV on the middle dance floor. Oh, that's that's the Morocco match.
Speaker A
Yeah. [gasps] It's crazy. We have um Yeah, but I'm just I'm just raving about this French team. I'm so happy, dude. It's so good.
Speaker A
It's been a It's been a good one. Anyways, all right. We have a show tomorrow. It's Friday that we're not doing. So, we do have a show tomorrow.
Speaker A
So, with that being said, see y'all tomorrow morning. Peace out, y'all. Heat. Heat. [music] [music] [music] [music] [music] [music] Heat. Heat.
Speaker A
[music] [music]
Topics:Trump crypto earningsstablecoin launchFOMO appBitcoin price targetsEthereum price forecastcrypto market updateNFT salesMeta data centersPhantom derivativescrypto onboarding
