Crypto Hacks, Midnight, Cake Wallet, Gokhshtein Media, Crypto Regulati

[Part 1 of 8] [ 00:00] [ 00:15] [ 00:30] [ 00:45] [ 01:00] [ 01:15] [ 01:30] [ 01:45] [ 02:00] [ 02:15] [ 02:30] [ 02:45] [ 03:00] [ 03:15] [ 03:30] [ 03:45] [ 04:00] [ 04:15] [ 04:30] [ 04:45] [ 05:00] [ 05:15] [ 05:30] [ 05:45] [ 06:00] [ 06:15] What first got you excited about blockchains? Think about it. Oh wait. I bet it wasn't multi-million dollar hacks, exposed data, or finding somewhere safe to store your seed phrase. Was it? Maybe it was the idea of decentralizing a broken financial system. Maybe it was imagining a world where people own their own data and get to sharing the value it creates. Or maybe it was the promise of a fundamentally better way of connecting, communicating, and transacting. The next phase of the internet that empowers us instead of exploiting us. So, why hasn't it happened yet? Why are we still living with the same broken system that blockchains promised to fix? It's because blockchains can't keep a secret. Enabling open transparent systems was only the first half of the challenge. For blockchains to really change the world, they also have to be able to protect our sensitive data when it matters. And that's why we built Midnight, to bring down the final barrier to mass adoption and unlock the full potential of the decentralized web. Let's build the internet we deserve. Together. [ 07:34] Ladies and gentlemen, we all know this in crypto, ownership matters. That's why Cake Wallet. Cake Wallet gives you full control of your digital assets, all in one easy to use application. You can store Bitcoin, Litecoin, Zcash, Monero, and many more with just one secure backup. Swap between coins in seconds, no copying addresses, no complicated steps, and even includes Bitcoin Lightning for faster payments. And with Cake Wallet built in, you can use crypto in real life through debit cards or gift cards. Simple, secure, self- custody. Download Cake Wallet and take control of your crypto. [ 08:16] This is Houston. T-minus one minute until full data blackout. All eyes are on you. [ 08:32] Breaking news. There is an astronaut conducting an emergency repair on a global communication satellite that could go dark at any moment. We have a second angle on this. [ 08:42] Is that guy on FOMO? Oh yeah. Yeah, let's get back to it everybody. [ 09:02] Breaking news. There is an astronaut conducting an emergency repair on a global communication satellite that could go dark at any moment. [ 09:10] Opportunity cost is simply this. Every position you take is a position you choose over something else. [ 09:24] This just in. According to the astronaut's FOMO account, highest in the room, the satellite has been restored. [ 09:32] Yes. [ 09:34] For now, the crisis appears to be over. [ 09:48] Satellite's up and running. Positions look good too. [ 09:58] There we go. United States of America representing. Socialism, communism does not work. Digital assets is a better to move money at the speed of light. People are greedy when they also try to acquire gold. I am here providing electricity. And that energy that is necessary. I am the modern day Tony Stark. [ 10:27] Welcome, welcome, welcome everybody. Ladies and gentlemen, boys and girls, children of all ages. You are now tuned in to the motherfucking best show on the goddamn fucking planet. That is right. The breakdown episode 773. It's true. Oh, it's it's 100% goddamn true. Sponsored by Midnight, the title sponsor Midnight. Also, if you haven't signed up or looked at Midnight City, you're missing out. Tomorrow we'll go diving into Midnight City. Maybe Landy will participate with me. Maybe he won't. Maybe it'll be me by myself. By the way, shout out to everybody who tags me when you see my AI agent in Midnight City, it would be good for you to go ahead and take that screenshot. Tag me so I can see you. So we can go ahead and start this gang that I'm talking about. Anyway, also, Polymarket. Shout out to Polymarket. Polymarket is the official prediction market sponsor of the breakdown. We'll dive into some of the topics and I I I just want to I want to see uh the presidential even though we looked at it yesterday, I do want to see the presidential um election winner 2028. I want to see if it changed or not. The Vance was in the lead yesterday. So, shout out to Polymarket. Cake Wallet, okay? Cake Wallet, the most secure wallet, one of the most secure wallets that we have in this space. If you're kind of skeptical about holding your stuff on some of these cold storage products, maybe look at cupcake, maybe get an old iPhone, factory restore that shit and I don't know. Maybe hold it on that iPhone. We'll get into that. We will get into that kind of conversation. Also, FOMO. Me and FOMO, FOMO and me, me and FOMO and FOMO and me are family. That's right. You can watch me on FOMO. I'm going to come out with the link. I'm going to make an official, official type of introduction for myself coming on to FOMO so I can wipe the asses of anybody trading on there and you can literally see me put a thesis on why I am going into certain things. Yes, that is going to be fucking exciting and electric when I go on there. Oh my God, the ratings will go up. Shout out to FOMO for being a sponsor of the breakdown. Kumbaya, my Lord. Kumbaya. Kumbaya, my Lord. Kumbaya. Also, we have uh so before we get started with news, uh Gokhshtein Media.com, which is the parent company for Gokhshtein.com, Gokhshtein PR.com, Gmarkets.io and other things to come, other products that we are coming out with. Uh, let me just showcase it. I'm obviously I'm always excited when things are coming out. I am always always excited. Excited. When am I not excited? Always excited. But here we go. Here's the official Gokhshtein Media.com parent company website, the independent media company. Again, shout out. Shout out to us. We're doing big things. Here you can find all the assets that the parent company owns. Okay? You can go on here and you can look. You got Gokhshtein.com, obviously, Gmarkets, you got Gokhshtein PR. We have more. We have more coming. More things and more properties coming. Also, you can go on there and you can see who if listen, a lot of people are asking me, who is part of the lineup, who's a part of the network? Well, you can find the network and the roster on here. Okay? You can find it on here. Gokhshtein Media works with independent hosts and contributors, talent who run their own shows under the network banner. The official roster is public, current, and the single source of truth for those who represent the company. Again, we got myself, we got Rob Nelson, we got Taylor, we got Crypto Landy. We got more to come. We have a lot of things in the pipeline, okay? We got a lot of things in the pipeline. So yeah, if you want to stay up to date with what Gokhshtein Media LLC is doing, here's the site Gokhshtein Media.com. That's right. Also, let's check out while we're talking about what's happening in the world today. Let's go ahead and check out what's happening on Gokhshtein Media. Excuse me, on Gokhshtein itself. Let's go ahead and switch over here. And also, anytime we go live, you can see the pop-up will pop up. The pop-up will pop up. Uh. It'll get a pop-up that pops up. And you'll go ahead and get to see it. Let's see, uh, let's go look at the latest news. Uh, Cold Card exploit drives July crypto thefts to $247 million. Hardware wallet breach, DeFi hacks, and bridge exploits made July the second worst month for stolen digital assets in 2026. This should not be happening. This should not be happening in crypto. Absolutely not be happening in crypto. This right here, $247 million stolen in July alone. This should not be happening. Let me just bring in Landy because he's already here and I don't really have much of a monologue. Good morning to you, Landy. Shout out to you. What's going on? [ 16:57] Hey, good morning. Um, can you hear me okay? [ 17:00] I hear you perfectly fine. [ 17:02] Perfect. Look, I know you're um, you're kind of going on the cold card kind of tally of crypto thefts right now. It's um, while it's unfortunate, you know, I've I this is a vendor specific problem and a very big one. Um, one of the major issues is small company, large reach through a lot of the um, the the known Bitcoin maxi circles. Um, and of course, you know, we get this news on kind of where an update of where the money is lost as Bitcoin pumps to all the levels that we were talking about yesterday and the day before and the week before, which is really, really crappy, right? Because now people have lost their money. Bitcoin runs off the lows. Um, you know, it's not it's not a fun time and for for some of those folks and I feel for them. Um, I actually found out that uh there's some folks in my circle that got hit by this. Um, now there is teams though that are working uh to, you know, try to remediate and uh there was even white hat hacking teams that went out and tried to sweep some of these wallets so that bad actors couldn't get them. Um, so, yeah, it's it's really it's a crappy situation. [ 18:22] Yeah, it's it's it's it's not a good one and and obviously it's not $247 million from the Cold Card exploit. It's just exploits in general within the month of July. It's come out to $247 million and that's along with Harmony One. There's [ 18:38] Yeah, and you've got well 150, right? 150 million or more of that is that cold card. [ 18:44] Yeah. But it's just again, it's it's totaling it to be the second worst month uh for this this kind of activity, which sucks. It really does. Absolutely suck and I've I've already beaten this like a dead horse here and and I've said that they should have had, you know, these these companies should have put at least 10 to 15% of their money into security. Bottom line. And that might be that might be a little amount. It maybe it should be 30% because like you you have customers that are trusting you. And you also obviously we've had Trezor with the third party data breach and it's not it's not good. It's it's not good and it should not be happening. That that's all I I can say. [ 19:31] I agree. [ 19:32] And I don't know if before you came on here, I I went ahead and uh I wasn't just talking about this. I was just talking about where everybody can go ahead and find, you know, the Gokhshtein Media LLC company and its holdings. Uh our website is up now. That's right. Website is up now. You got three public properties. You got the Gokhshtein.com news website, you got the Gmarket site, and you got the Gokhshtein PR site. You also got more products coming, so stay tuned. But again, you can check them out on here. And obviously for the latest, you want to find out who's on the roster, who you can go ahead and follow on the Gnet uh Gmedia Network. It's all here. So, um, yeah, I just I'm excited about this. Things are going up. Independent company, no VC, we don't need nobody. We're going to make this shit work, you know what I'm saying? [ 20:31] I'm back to the news. [ 20:37] You know the the news of today, right? Um, I've been uh using obviously the the Gokhshtein uh website for news as it's kind of replaced my my terminal aggregator uh behind the scenes here that I told you I've been using for a while. Um, because it's just nice easy place to go and uh check what's going on and the live wire especially has been uh very helpful because then I can dig into stories straight through the website or I can do some uh some some search right through wherever that story originated from. Um, companies directly and all the rest. So, it's been very, very handy. I hope that people are checking it out and using it and bookmarking it. [ 21:23] Well, it's only going to get better. And there there is a of course, I got already I got already hit with the visibility shit from TikTok. And at this point, I can care less. We will be on Instagram, we will be on Facebook and hopefully there will be less less of this bullshit that we have to go through. So, it is what it is. Uh I'm going on TikTok. I think primarily uh the staff will be cutting up clips from this show and we'll be putting it out there so we can go ahead and get visibility on there. Obviously, I don't know what's happening, but we cannot come to a deal here with TikTok where they can acknowledge that everything that's being done here is from our company. Okay? We are producing the show. This is our copyright, trademark, whatever, man. It is ours. So, it's just weird that we have to go through this day in, day out with TikTok, especially when we have a really good audience on there. Anyway, upgrades coming for Gokhshtein.com. It's already working great. I that's the first I'm going to tell you right now, and yeah, I'm biased, but it I used to go to other places. Now I just go to Gokhshtein.com to get my news. Bottom line. And the next upgrade that comes, believe it'd be more, there'll be even more news and opinion pieces and and whatnot. So, um, shout out to everybody who is, you know, using Gokhshtein. It's free. It's free. You imagine that? It's free. No paywall. It's free. Okay? Uh Vlad calls for US tokenized stock rules. Uh what is it? One glaring gap as on-chain volume hits $9 billion. Uh obviously they had a conversation. So, a lot of people missed the boat on this. There was a press conference. You had the you had the SEC there, you had the CFTC there. Uh they both spoke, both leaders spoke there. I like what the CFTC did. The the leader there Mike comes out and he says that Paul is one of the greatest of all time essentially. And they were like he was continuously bashing Gary. Okay? Bad news Gary was continuously thrown under the bus there. You also had the uh the twins from Gemini there. You had you had Vlad, you had uh uh one of the CEOs. I I think he's the CEO. Uh from Kraken there as well. [ 23:47] Mhm. [ 23:48] They were they were all having a conversation, but it was it was bullish. The C uh CFTC is coming out with their guidelines. You had the SEC come out with their guidelines. And, you know, there's major talk about the Clarity Act being passed on September 15th. So, whether that happens or not, who knows? But again, there is conversation stating that it will be passed on the 15th. Uh I had Perian uh Perian Boring on here yesterday. You know, we we we we dove into those topics. She's not so bullish on the Clarity Act being passed. Um, but again, I hope it does. [ 24:25] Yeah, we'll see. [ 24:26] But then again, I turn to it's what she also said. In 2014, it's turning to the IRS now. After all these things are done, it's time for the IRS to I guess change what a cryptocurrency is and and call it a currency rather than a property. Because if you're treating it as a property, then you're treating it as a security. And and and and these conversations need to go ahead and be had and they need to be done especially if if we got a pro crypto administration in this goddamn fucking house right now, we need to go ahead and and get this done. Um, your thoughts here, Landy. [ 25:06] I agree. Well, I I I actually 100% agree with you. I also agree with Perian that um it's very unlikely that it's going to be passed. Um, at at minimum, it's not going to be passed as is. And I actually hope that it's not passed uh as is. I hope that some of the guidelines and some of the feedback that that the SEC's going to get um and the CFTC's going to get um as well as the administration when it comes to some of the proposed regulations. I hope that this actually uh results in some things actually moving in the right direction for that bill and it not just being the big nothing burger that it really is at this particular moment, my personal opinion. Look, I'm not going to go point by point. I'm sure Charles will bring it up uh later, right? Um, you know, it it's one of those things of like great. I'm glad that the administration is doing something. Now, how about Congress? That would be

[Part 2 of 8] [00:00] awesome if they could actually provide some direction. Um and codify some things without just making a uh a banker friendly bill. And I get that um you know, Brian Armstrong has been the most vocal prominent one in the media. He's not the only one, obviously. Um is is like, oh okay, I'm okay with the direction this is going. I don't care if he's okay with it. Um I care if it's actually a good bill. Right? I don't care if it if it it's going to help um Coinbase specifically or or this company or that company specifically. I care if it's going to be a good bill. And it's not a good bill as it stands right now. So, I mean, I've got some strong points um that I talked to you about. [00:46] You know what? You have I'm going to mention her again, Perry Ann Boring, who has obviously worked tirelessly for years. Uh she's worked uh um she's worked inside of Congress and you know, she feels like, hey, we need to pass a bill uh in order to get shit going. So, [01:11] I agree. So, [01:13] 2% of all bills are ever passed, right? So, I mean, pass the bill and then work at it. But I also agree, I've said this before though. Why pass a bill that's shitty? At the end of the day, look, let's keep it for let's keep it real. The the Clarity Act is clarity for the banks. It's not clarity for It doesn't provide much clarity for retail. [01:36] for banking focused institutions. Yes. because it's not just [01:40] What does it do for retail? [01:41] It doesn't do a whole lot. Um it's the trickle down effect. It literally is the trickle down effect, which is not what not what you want to see because it it it it doesn't actually provide any of the clarity that it's literally the bill's title is clarity. It doesn't provide any clarity for others. there is some bits of of regulation that it would codify and some things that it would allow for, but within a very strict box, right? Um it's not actually doing much of what we would want to do and it's leaving it up to the regulators instead of codifying things. [02:17] Yeah. So maybe the regulators can push that forward and I know that the Trump administration's been hard at work on and and from the various um regulatory bodies kind of pushing Congress as well. [02:30] Yeah. You have to forgive the background noise. We're we're having some construction done over here. [02:36] I don't hear it at all. [02:37] Okay, good. Uh, but yeah, you know, that this is something that I think is is going to be talked about all the way through the end of the year because I don't think it's going to happen in September. [02:50] To me, you know, at the end of the day, the most bullish news that I personally see is that SEC coming out with their guidelines. I think that's bullish. I also think the CFTC coming out with their guidelines is bullish. So you have two bodies that used to, number one, they they during the Biden administration, they didn't talk much. Okay? It's like they they just didn't. And but you now have two agencies that are unified in their approach. So that's great. They're they're pro crypto. They're pro they're pro free markets. That that's how I look at it. And and and that's great. And and especially for crypto. If you don't like Trump, I get it. I totally get it. You guys don't like Trump for what for whatever the reasons are. But if you're a crypto bro and you're and you really aren't diving too much into politics and all you care about is crypto or the traditional markets or just markets in general and you want to participate, then I I don't see how you're not happy with Trump. Or the administration, they're trying. And I really do think this this will be the biggest victory for Trump. At least from the crypto side. And also for Vance because Vance got to look at this as well. He's running. 50 million plus, maybe that it's probably more now. 50 million plus Americans hold cryptocurrency. We're heading in that digital direction. So, for Vance, it's important that they get this shit right with the IRS. I I'm I'm serious. All over the place where these where Main Street and retail understand how to operate. Then nobody's then nobody's clueless when it comes tax season. We've had we've had accountants on here, CPAs on here, with Andrew Gordon on here. He talked about it. We need to get that we need to get that done. I would rather that get done before the Clarity Act, to be honest with you. That before the Clarity Act, because the Clarity Act, again, I'm not a bank and it means nothing to me. Okay? I don't own a bank, so it means shit to me. [04:57] Yeah. [04:58] It really doesn't. [05:00] No, I agree. Look, I mean, it it will provide for at least direction for a lot of the platforms that many of us use, um, to obtain crypto and and buy and sell crypto, but it doesn't do a whole lot for us outside of that. [05:14] But it also the only other thing that it does do is if you are front running the markets and you've nailed in your positions, which are hopefully are good positions in your portfolio. If the Clarity Act does pass, that means that liquidity will be injected and the top assets within the crypto space will go up. Yeah. So you will have an influx of not millions, not billions, but trillions of dollars that come in. But again, they will come into the real assets, okay? And not your favorite meme token that came off a pump.fun just now. I'm just saying. I'm just throwing it out. If you're in a Telegram chat right now and they're telling you, Clarity Act passes and our meme goes up, get out right now. Unfollow, get out, block everybody. Okay? Because that's not happening. I I promise you. I'm I'm helping you out here. [06:09] Well, look, I'm not getting too happy. Like yesterday we on the show, Bitcoin was sending, Ethereum was sending, a lot of things were moving, markets were green, people were happy, attitudes changed, okay? [06:22] Mhm. [06:23] Today, same thing. People are happy. Bitcoin has gone up. It is going up. Ethereum's going up. Solana. Everything's up. It's green. Landy. What what [06:35] Well, I'm still I'm not again, I am I'm happy. I'm happy that people are happy. But at the end of the day, I'm waiting for the pullback. What are what are your thoughts? [06:45] Well, I mean, we've been talking about this uh yesterday, last week, the week before, and for like six, eight weeks, right? Uh we've been talking about at least I've been talking about specifically watch Bitcoin um in the range between 62 and a half and 65. We need to see closes more importantly, not just swings below and swings above. We need to see closes above to go run the more recent highs at 67 on its way to test 68 to 70. Said this yesterday when it was, you know, trying to break out. Um and then where did it go? We hit 68 to 70. In fact, we hit 70,000 and 36 bucks yesterday on the high. I said take it $2,000 at a time to the upside because there's resistance about every $2,000. Um so, you know, yesterday we got uh the high in at 70, got a little retest of, you know, $69,000. And then a push up to 70 to 72, right? So above 70 uh thousand to 72,000, pay attention to this area. If we start to get closes above around 72,000 to 72,200, you know, I I would I would expect to see prices start to head up to the next big area, which is around $74,000 to $76,000. And I mentioned yesterday, that's where things actually get pretty darn interesting. Um because above there, uh you know, is the area that we had just recently retested. You know, once you start getting above $76,000 for Bitcoin, it's all about the monthly area that was the pre prior higher low on a closing basis and higher um low on a swing basis. So you had the swing higher low and that was the last higher low of the bull market at 74, 744 area, and then you have the close open at 82 and a half. Now, we've previously tested this area before, but above $76,000, that puts us above the higher low of of the bull market that's been broken down from on its way to possibly retest that 82 and a half monthly yet again. This is obviously where we rejected last time, but that's where I'd be paying attention, right? So if we continue to push on above 72, especially on closes above around 722, that does open up 74 to 76. Above there, we we could be looking at a a retest of the last big high that we put in on the monthly before the run to 57, 750, you know, that sweep of 58k. And that's where kind of the rubber hits the road. We'd have to see how things kind of close in and around there. But I would just exercise, um, you know, just, you know, be even keeled as you're watching price action in and around some of these key areas right now. Um, for Bitcoin and all of the relevant majors, they're all in a very similar position for the for the uh top caps. Um, in crypto. Bitcoin obviously leading the way. And a nice short squeeze up to these areas. I'd mentioned to you, um, last week and, um, you know, the week before, we're when we're looking at the current range that Bitcoin was trading in at the time, which was between 62 and a half and 65, you had a lot of asks or sells right overhead, and you had a lot of bids right below. And price was going to gravitate towards one of those two sides, right? To to hit um stops, liquidations and orders for fills. And it chose the upside. And now we're getting that, you know, from that compression to expansion and volatility, we're getting that. It's a beautiful thing to watch. And enjoy the green days. Enjoy the green days because as soon as what goes up must come down, doesn't mean that it's going to be all over and it's not going to push any higher, but as soon as it puts in a red candle day, everybody's going to be right back to dooming. Right? So it's more about watching the price action, watching the conditions, watching the levels that you're interested in. And something that you and I have been very consistent about and a lot of the stages that I go and talk on, obviously you're familiar with the Wolf crew and the ATC crew. One of the things that you, I and is common amongst even the trading gurus has been in the $60,000 area and under, it was all opportunity and will continue to be opportunity upon any retest. 60k and under. I mentioned to you last week, um, and and this was starting about a week before, um, I talked to you about institutions flipping long for the first time in a very long time. CME, we saw, um, we saw interest uh aggregate open interest flip long. And we don't see that very often with CME. We saw that uh a lot of the shorts uh and short interest was evaporating on a lot of these spot ETF shares. So, a lot of the institutional players were looking for this to come up. You know, the the big seller in in some of these areas. Now, granted, this was a couple weeks ago at this point was Michael Sailor was as one of the larger institutional sellers. Now, granted, he in the more recent weeks, it's just been uh MSTR stock that they've been selling to bolster their reserves. But, you know, this is um this is an environment where as soon as the move kind of was going to get rolling, it was probably going to be a very, very quick move. We had a giant candle yesterday. We've got a really good size candle today and, you know, just yesterday from close to close, uh you had a $4,600 candle from swing to swing for Bitcoin. You know, we were at uh, you know, what was that? Like 5,000, 500 or something. And we haven't seen that in a while. Um, the last time we we really saw candles this large on the daily for Bitcoin, unfortunately, it was to the downside, right? So, it's nice to see them back to the upside, grab some liquidity, and then we just kind of see where things uh where the dust settles. [12:40] Yeah, it's uh it's nice to see, but I I again, I'm a Landy's about to faint, but I am waiting for one last one last sweep as uh the TA bros call it. One last sweep. [12:58] Very highly likely. Very highly likely. [13:01] But again, like it's what I said yesterday, Landy. It's something that you can hope for, but you know, I was talking to somebody. I was talking to somebody and I said, at this point in time, I would be DCAing. So like if you have if if Bitcoin was in the 60s, DCA. Right? [13:22] Yeah, we've been talking about that for a while. [13:24] Because just just in case this goes up, right? You're not caught off guard. Like this could, and I know like Landy, you're the 70/30, the 30/70 shit is still in play from your side. But I'm saying hypothetically speaking, we nobody knows, right? At the Landy, would it be fair to say nobody knows? Like we can do our best to analyze the market, but nobody knows when it will decide to go absolutely through the roof and upwards. Like you you just don't know. We don't know when the bottom hits, right? Like seriously. That that's a fair statement. [14:07] I would say that nobody knows where price is going to go, but you can set very clear conditions and be very, very accurate in where it's going to go next. [14:18] But maybe, just maybe, the bottom is in. [14:26] Well, there's a lot of maybe's. Maybe I'm really a woman talking to you right now. I don't know. [14:30] I don't want to get into that. That that is for you to go ahead and tell everybody, not me. It's not my place. [14:36] I don't play with maybe's though, David. I don't. Um, it's all about the data. [14:40] I don't know, man. I don't know. [14:41] I don't. I can't. Look, I'm a trader and this is what I was talking about yesterday. As a trader, and as somebody that's been hedging a large position in Bitcoin for a very long time. I hedge in the bull markets. What I will tell you about Bitcoin right now is my hedge was is to the upside, right? When when we're in a bull market, I'm hedging for potential downside on the pullbacks, right? So, in a bull market around the highs, I'm in short positions and I'm hedging my portfolio for drawdowns in the bull market. When we're in a bear market, I'm hedging to the upside, right? Because I'm, you know, already short. I'm hedging that price is going to go higher, like I've talked to you about. It hit my orders. 58 to 60 is where I was looking and I talked to you about this for a long time since we were actually in a bull market. 58 to 60 was one of the key areas that I was going to DCA and really DCA heavy. I I hit my first tranches of orders for DCA there. And I took longs. I had actually 62 and a half. We talked about this. When it spiked down to 62 and a half on Friday, I told you I was in a long position. Why? Because I was already short from the range highs. I went long on the range lows at 62 and a half to 65. I'm willing to get stopped out on one side or the other. I got stopped out on the short side, ride the long side up, nice winning position. That's a hedge. Now, when it comes to could the bottom be in? I've had this discussion with people till I'm blue in the face. A bottom does not mean the bottom. So if we close the monthly above $67,000, we will get a bottom. It will be a low on a higher term time frame like a monthly. But does that mean that it is the low? No, not necessarily. Even if we pump substantially higher. Where do things change? And this is for the audience as much as it is kind of a repeat of what I've been kind of talking about. If we were to get a close above 82,800, which is the last monthly lower high, then things significantly change because that would be a trend break. Then it's all about the next move down. Doesn't matter how high price goes. If it trend breaks, great. Enjoy the ride. It's all about where it retraces to when it eventually does correct back down because things do not go up in a straight line. They never do. Um and I know that a lot of people like [17:08] Landy, I I I get it. I I totally get it. I understand. My my debate here with you is more so tunnel vision. I think that was what was used yesterday. [17:24] Yeah. [17:24] And sometimes we get so stuck, like a developer, gets so stuck on one thing that can't see everything happening from the other. So it's kind of like [17:34] I agree. [17:35] Could, okay. Can we go down into could it go back to 57? Listen, if it goes back to fucking four quarters, like I can care less. [17:46] Yeah. [17:46] I'll scoop up. It's that that's not my I don't I don't have fear in this. For me, it's it's just so the possibility of this maybe going from 30 to 70 to 50/50. [18:01] Oh, that that would change if we do break above 82,800. Um especially on closes for the weekly that lead into a monthly. This would be a 50/50 for me. Then it it does shift very heavily in favor of the bulls in my mind. [18:18] Because you understand what I'm saying. At some point, the 30/70 has to shift and say, you know what? [18:23] Yeah, that's where [18:24] As much as I think it's here, [18:26] Yeah. [18:26] with the data with the data available to us, this I got to change it to 50/50. [18:32] Well, I I would say to you that [18:35] And I'm not pushing you to do anything. You you get where I'm coming from. [18:38] No, I here right here right now, there's two there's two paths that would change my mind and split that to a 50/50 low is in. Is if we were to put in a lower high here, come down, sweep the lows and put in a higher low, right? Like let's say so the last lower high is at 828 for the monthly. That that's what really confirmed the reversal. We went down, we made new lower lows. Okay, great. Well, if we were to break above there, then it shifts to 50/50 because it's about the next move down. Alternatively, let's say we put in another lower high that is below there. Let's say it's uh it's $75,000. I'm just just throwing a number out there. Let's say we put in a lower high right there. And then we come down, we sweep the lows and we put in either a higher low close, an equal low close, or a a uh bear bait wick where we swing it, sweep it, close above. I would tell you that would actually be um the preferred route, to be honest with you, because that would start to look like um seller exhaustion, bull stepping into the market after a lower high that's a little bit easier to break because it's a little bit closer in terms of support resistance, areas of interest overhead. And then we break that. So there's two things. Either break above and close above 82,800 on a on a weekly, then a monthly. Needs to close above there on a monthly. Or else it needs to go substantially higher for me to get excited. Or it needs to put in another lower high and then it needs to put in a higher low or equal low. And that would significantly change things. So, I agree. On this particular move up though, not interested unless I see uh where until I see where the high comes in or if it breaks uh above 828. Then the conversation will shift from 30/70, 30% chance that the low is in right here or in 70% that we got another leg down to a 50/50 for me. Absolutely, it's based on those conditions. And I'll be very loud about it. I've been sticking to my guns since we went into a bear market. So, you know, I don't change I'm not one of those guys and people you know me, but there's there's a lot of new people that do come in and watch your show, right? They don't know, they they might not necessarily know. I'm not one of those guys that changes, you know, with the shifting winds on the timeline or or whatever the uh green candle, red candle is in terms of excitement. I got a history of videos that you can go back and watch. I I will call it the way I see it and until I see the conditions change, that's when I will actually shift what my take is on things. And right now we just haven't seen those conditions change just yet. But I do love a good pump up to the upside. And look at hyper liquid. Absolutely. [21:24] Well, I was going to get into hyper liquid and and about uh the Trump administration, CFTC uh talking about hyper liquid. And my first thought was Landy's going to go off. He is absolutely in his bathroom, just absolutely abusing himself. And uh your thoughts, are you excited about this? [21:47] Man, I got to hand it to um I got to hand it to uh somebody that that I know is uh is out there listening. And she brought this to my attention. Now, I was paying attention to hyper liquid, but really, really brought it to my attention. Um and this is this is uh Emp. So, shout out to Emp. Um but she she made me a convert um for hyper liquid. And watching then institutional players really build and come on board. Um really solidified uh what they were doing over there. And you could tell with all of the larger institutional players that are that have gotten involved in hyper liquid and are continuing to get involved in hyper liquid from the network side of things to funding the build out of different projects. Um to the different proposals and the devs that have had just a a from the institutional side have come over and developed, but then supporting the other devs in the ecosystem has been something incredible to watch. And price action's reflecting all of that hard work that's been put in. And obviously, when you've got the President of the United States talking about it, you've got the CFTC talking about it. They understand that we we we need decentralized platforms to be successful as well as the centralized platforms. If you really want to become the number one crypto crypto capital of the world, you can't just have a bunch of centralized platforms and a bunch of centralized products. You need the ethos underneath of it all, which is decentralization. And yes, I know that there's going to be arguments about who owns what in the network and staking and all of this other stuff. But the point is is the platform operates in a decentralized manner. [23:46] You know, people are going to say, hold on, the Trump family's in on it. You know what? You know, can I can I say something? [23:53] I don't even think they are. Are they? [23:54] No, no, but even if you think they are, then fucking follow the money. Like I'm so fucking tired of hearing people complain, oh my God, Trump. He just he's making all the front run the money. It's the same thing that I was saying about the institutions and when they were coming in. Follow their follow what they're doing. [24:19] Hey, I got a question for you, David. [24:20] Do exactly what they're doing. [24:22] I got a question for you, David. This is this is how I I I've been framing this and I want your opinion on this. I had somebody bring this argument up to me. Oh, Trump is into crypto and the family's into crypto and mining and this and that and it's terrible and awful. And I was like, okay. So let's say you have this brand new invention called the the wheel, right? And you've got uh you say that you're going to support the wheel and and you're going to bring manufacturing uh to the United States to manufacture wheels and um and you are going to uh arrange an entire portion of your administration around interacting with people and manufacturers of wheels and developers of wheels and innovators in the wheel sector, but you're not going to have any skin in the game. And and you're not going to have wheels, you're not going to drive with wheel, you're not going to put wheels on a car, you're not going to put wheels on your wagon. You're going to you're just going to be dragging stuff across the ground the entire time as the President of the United States, or are you going to have are you going to lead by example? And this is this is something where a lot of people don't realize that a lot of a lot of presidents throughout history, um actually ran their own businesses while being president. You know who's not running their own business right now while being president? Trump. It's his family running the business. And look, you can cry about insiders and this and that, but, you know, go back throughout history. This is the same thing with anybody in a leadership position. You literally had presidents that were running their business while being the President of the United States. [25:56] But I don't I I just don't care. Like, okay, look. Would it be better if Trump like it all goes back to the Trump token. Yeah. [26:09] Here, I'll I'll actually give you this.

[Part 3 of 8] [David] [00:00] So, you wanted a pro, this is how I look at it, whether it's a Democrat or Republican, whether it's Trump or somebody else. You wanted a, we all wanted a pro crypto administration, right? We wanted a pro crypto president. We've been asking for this. We've been begging for this, actually. Even though crypto itself doesn't need anybody, we've begged for an administration that is pro crypto, correct? After four years of being destroyed. [Caller] [00:29] Yeah. [David] [00:30] Okay, so we've begged for this. Okay, cool. [Caller] [00:33] If it was a Democrat, no one in the media would say a word. [David] [00:37] But I I exactly. And look, I'm just saying whether it's a Democrat or Republican, somebody comes in here saying they're pro crypto, we'll put out regulation and rules and policies that benefit the American people, builders, great. So, Trump can't really win here, if you really think about it. He can't win. Because he campaigned on a Bitcoin strategic reserve and all all these things that are being done. Digital reserve, that's being done. All these things have are SEC pro, they're done. They're done, done, done. Things are getting done, right? If he wants to go into crypto, or his family wants to participate in crypto, that should be a good thing. And I'll explain why it should be a good thing. Because if you campaign on something and you say you go, you like, okay, I didn't I didn't understand it before. By the way, Michael Saylor said the same thing and then changed the Everybody's allowed to say one thing at first, but then as they get educated to the asset, they can change their mind. That that's okay. That shouldn't be frowned upon. Like people, oh, they didn't believe in it at first. Yeah, a lot of people didn't. I didn't when I was introduced to it. I thought it was like, I thought somebody was pulling a fucking joke on me until I got educated on it. Most people want like the first reaction is get this away from me. And especially as the president at the time, he's defending the dollar. So I I I understand but now, if you voted in a pro administration, you should be happy that the administration is dabbling in crypto. I wouldn't call it criminal. I would say they're participating in the markets, which if you call it decentralized and it's a free market, then everybody's free to do as they wish. He's even made the concession, which I don't really care for, but he's made the concession to the Democrats to pass his Clarity Act bill to say like, no sitting president can go ahead and fuck around with crypto while in office. What more do you want from him? Like he's made the concessions. You could say, oh, his family is going to be Yeah, they're not sitting. They're not sitting. Now you want him to go a step further and say no family member can participate? That's not fair. They're not sitting. Yeah, they can talk to their dad. I get it. But they're not sitting in the Oval Office 24/7. Okay? They're not flying around, meeting with They're not doing none of that. Okay? There will be people in this world that have an advantage over you. That's the world. Okay? That's the world that we live in, that's capitalism, and that's fine. Work your way to that spot. That's it. Stop crying, work. [Caller] [03:32] Do you remember my rant? [David] [03:33] I'll even I'll even show you. This entire fucking space. Y'all always crying about, oh, this one is making money because he's in this and that. Work your way up then. Work, put in the work, you'll be in the same position, but you're lazy. So all you can do is point fingers. So I don't have a problem with Trump participating in the markets because he's actually doing what he said he's going to do. [Caller] [03:58] Now, [David] [03:59] Which is being a pro crypto president and have a pro crypto administration. [Caller] [04:05] And he's not directly participating in the markets right now anyway. It's been his companies, his and his sons and his family. [David] [04:12] Whether Landy, whether he whether he did or does or will, it doesn't matter to me. Because you can look at it two ways. One, he can CNN would have reported and said, you know what? He campaigned on crypto, but he doesn't even talk about it or touch it. [Caller] [04:29] Yeah. [David] [04:29] So they get him for that. He he participates in crypto, they get him for that. There is a no-win situation. You know what? If I was Trump, I'd be like, you know what? I campaign on this and I'm going to dabble on this. You know why? Because I can. It's a free market. [Caller] [04:45] Well, [David] [04:45] That's how I'm looking at it. [Caller] [04:47] For you might remember a couple of weeks ago, I I went off and ranted about people complaining all over the timeline, including some very, you know, uh, popular figures, get involved. There's plenty of ways to get involved. You can go, you there's groups that you can go and support that will get you out to if you have expertise in this field, they'll get you out to DC. You can go talk to representatives, you can go talk to staff members, you might even be able to work your way into talking to members of the administration or some of the regulatory bodies. Now granted, you got to it's a lot of work. And and it's not easy work and you got to deal with a lot of people with conflicting interests. Uh, but really anyone can do it. I ranted about this. Like stop complaining on the timeline and get out there. And you whether your voice is heard or not, at least you knew you, you know, you did something to push things forward in the right direction. And it doesn't you don't have to agree with me on direction, you don't have to agree with anybody that you're talking to on direction, but you there are ways in which you can get involved. There's plenty of groups. I like the Bitcoin Policy Institute. Right? Me personally. Um, there's others, right? I just happen to, you know, know some folks that are doing good work over there. Right? You've got, um, you've got the stuff that Perianne Boring is doing, right? Yeah. Um, you know, there are ways. This is not people think it's like this black box, it's like all gated and you everybody has to know everybody. No, you can hit the ground and if you make the if you make enough noise, you will get noticed. Right? And, um, you know, people are willing to do it when it comes to political other like really divisive social political topics. And then they'll sit back and just whine and cry on the timeline when it comes to something important like the cryptocurrency topics and blockchain technology topics instead of actually getting out there and doing anything. It's just a bunch of pissing and moaning instead of actually doing things. And that doesn't that's not true of everybody. There's people that come and watch your show that are actually directly involved as well. And you don't even know their names. No one knows their names. They're just PFPs on the internet, but they're paying attention. They're listening to these conversations and others, and they're taking some of that feedback back to DC and talking to folks about it who actually have, you know, influence within the industry. Yeah. Um, and then you, you know, I I and look at how hard Charles was driving forward with the narrative. And I get where Charles is at too. Um, but he he went out and did it. But you don't have to be a Charles, you don't have to be a Brian Armstrong, you don't have to be one of the biggest players. Yes, do they do do their are their voices going to be louder? Absolutely. Because they have the history of building that that allows them, uh, a little bit easier opportunity to get in there and talk to folks. [David] [07:53] For sure. [Caller] [07:54] But anyone can. [David] [08:00] Sorry about that. So, [Caller] [08:02] You're good. [David] [08:03] Just wanted to say, uh, uh, number one, it's it's a great shout out to Hyperliquid. Shout out to the fans of Hyperliquid. I know you were kind of like dabbling there to go ahead and give credit to somebody, but I know that Empress was out there. I can acknowledge that. She was out there in the spaces talking about Hyperliquid and nobody were I didn't say nobody was listening to her, but people were fading. So, [Caller] [08:27] People were fading. They absolutely were. [David] [08:29] I I remember those spaces. I got into Hyperliquid, um, but I remember when she was talking about it, people were fading hard. So, um, but you but you know, people's mindsets were like, what's the next shitter coming off of whatever, you know, it wasn't like, hey, let me get into something that that might have value here, uh, long term. So, yeah, shout out to you for Hey, listen, man. We report the news, man. This is about reporting the news accurately. Um, we'll go have Charles on in a in about 10 minutes or or it's 11 minutes. Uh, this article here, you know, I I was I pointed out Ethereum. Ethereum is finally moving. I stated in one of my tweets that, uh, Ethereum if it does go past $5,000, it can thank Robinhood and Base for that, because I believe those are the two that will be the catalyst for Ethereum going up. Besides everything from an institutional perspective, believe those two are the behemoths that will carry that chain. Um, Armstrong doubles down real quick before we have to say goodbye. And I don't want to say goodbye to the puppet, but before we have to say goodbye. Uh, Armstrong doubles down on $1 million Bitcoin call by 2030. Uh, he believes wholeheartedly this thing is going to a million dollars per coin. I think every Bitcoiner believes this. Uh, I'm sure you believe this. Saylor was on here. He said four to eight years, $1 million Bitcoin. So, that's basically the the [Caller] [10:05] I I would push back on that, me personally. [David] [10:08] Oh, now you're going to push back. Well, you got a minute to push back. [Caller] [10:10] No, no, I I've never I've never called for a million dollar Bitcoin by X date. Someday [David] [10:15] No, no, I'm not saying that you did. I'm saying, [Caller] [10:19] Well, I don't agree with Armstrong. I don't agree with the others that have said by 2030 and all these other things. [David] [10:25] When do you when do you expect Bitcoin? Wait, so when do you expect Bitcoin to hit a million? [Caller] [10:28] Um, it I I don't have a date because I think that we need more whole long-term holder distribution, um, to see that actually come to fruition. Um, and I don't know how long that's going to take. Uh, me personally, I I think that it's going to be a lot longer than people expect to get to a million. Because if we were going to get to a million dollar Bitcoin by 2030, David, that tells you that there's a lot wrong in the economic, the global economic system, um, a lot more wrong and something is is substantially broken. Um, in the in the global economic system, which means that that million dollar Bitcoin, while awesome in terms of numbers and if you've been holding it for as long as many of us have been and accumulating for as long as we have been, we're we're sitting great, but the rest of society is probably, uh, on fire, literally and figuratively. [David] [11:26] You know what? You know what? I I think this is it was a good, you know, I think last cycle, whatever that last cycle was, I think it was a good learning lesson. I think it was a costly learning lesson. And I think if you sat and you actually looked at everything during the bear market, if you looked at everything that happened during that cycle, which I thought was the shittiest cycle of all time. [Caller] [11:53] 22. [David] [11:55] No, this current, whatever this fucking slop was, bro. You know what I'm talking about. [Caller] [12:00] Mhm. [David] [12:01] Just a Bitcoin institutional run, seven alts actually did something and it wasn't that much. [Caller] [12:07] Okay, yeah, you're talking about the bull run kind of being really muted, yeah. [David] [12:11] Yeah. It's just like it it wasn't there was no altcoin season, there was not it was just okay. But that was an expensive lesson. For a lot of people. So you if you were writing everything down, if you wrote everything down, then this time around, I expect you to be successful. As for Bitcoin hitting a million, I can care less. The the one thing that you learned is that the the which I now call Brian Armstrong, he's an institutional head now. So, for that that's how I look at him, respectfully. And I said that respectfully and not in a bad way. At at some point that's what happens, okay? So that doesn't make him a bad person, but at some point in your career, that's what you just you you sit at the table with all the institutional players and you continue to grow your company. That's what he's doing. God bless him. Um, but I learned now, not that I didn't know, but I was like, I think I was caught in a daze a little bit, and I can admit it, unlike you bitches. Um, because I like having these open conversations. It makes it real, right? There was like two, three, four months where, you know, I kind of believed and and I forgot who the fuck was talking. And that's institutions got a product to sell. [Caller] [13:34] Yeah. [David] [13:35] And when they say super cycle, shut up, Landy. When they say super cycle, and when they say all these things, you can get caught in the moment. Okay? And and listen, I get a lot of things right and and some things I don't. And that that's fine. But that that's the only thing that No, no, you know what? The only thing that fucks with my mind out of that whole cycle is that I believed for like a month or two or three, I believed the product they were selling. [Caller] [14:10] Yeah. [David] [14:11] Because of the position and because I thought certain things were going to happen, okay, it made sense. But at the end of the day, I forgot who I left. Do you do you get what I'm coming from? I forgot the world that I left and then I'm looking at the world tell me and it it was and you sit back and you're like, oh shit, that was one of the glaring mistakes I personally made in the previous cycle was that. That forgetting that they all have a product to sell. So it is what it is. But look, not a bad cycle, could have been better. But I am I swear to God, this is you know when Jordan came back with the 45, he did well. But it wasn't like with the 23. Yeah. It's like when Nick Anderson talked shit to him where he went from the 45 to the 23 and destroyed the the magic. That's what I'm looking to do this cycle. This is like, okay, I won, but now I want to really win. [Caller] [15:10] Well, [David] [15:11] Like I I want to fucking absolute dominate. [Caller] [15:14] This is and and honestly, you know, you and I went back and forth because if I was not an analyst and I was not a trader, I probably would have been in the same or similar camp. But I was calling for a lot lower and I got a lot of slings and arrows thrown at me when I was calling for 123 to 125. No, you're dumb, you're stupid, you're you're a dumb puppet. Well, you know, I ended up getting it right, but you know who else got it right? The icon. The absolute legend out of New Jersey. He called it along with me. He was there. The one, the only icon that hopefully we see more of in the future. And that's Rex Liberty. So, [David] [16:04] Rex Liberty. Give him a shout out. Rex Liberty. I've been for some reason the staff is clipping up his stuff. It's it's crazy to watch. [Caller] [16:20] I mean, he is, you know, you're electric, but he is he is the epitome of the electricity itself. [David] [16:29] Yeah, he's uh he's amazing. The hair. [Caller] [16:32] Yep. [David] [16:33] It's all it's all fitting. Um, ladies and gentlemen, Landy, Mondays, Wednesdays and Fridays. On this network, you can tune in and you can watch him Mondays and Wednesdays, it's 9:00 at on Fridays, it's 8:00 Eastern time. Uh, yesterday, obviously, he did the market update. You can go ahead and check that out. If you're interested in, you know, participating in these markets and actually winning, check him out. Landy breaks everything down. Uh, slowly for you, so you can understand trust me, slowly for you, so you can understand. [Caller] [17:04] It was a 16-minute video, man. But I covered everything yesterday. Bitcoin, oil, I covered all traditional markets. [David] [17:13] Who doesn't who doesn't love baby oil? He covered baby oil. Like it's it's amazing. [Caller] [17:18] Well, and I was covered in baby oil while giving that analysis. Yes. Yes. [David] [17:25] Shout out to everybody. Shout out to you. Um, appreciate you coming on. And obviously, I'll see you tomorrow. Um, 12:15 and then back at 1:45 where, uh, you go toe-to-toe with, um, well, not toe-to-toe. I don't want to say that, but we'll go ahead and bring Rob Nelson on here. Rob Nelson's show also aired yesterday at 8:00 p.m. You can check that out. [Caller] [17:47] I love debating Democrats. [David] [17:49] Yes, absolutely. He don't don't say that. Don't say that. Don't don't you call him a Democrat. [Caller] [17:57] But much love, David. I appreciate you. [David] [18:00] You know, Landy's, you know, Landy's a a fucking cheating ass bitch right now, man, because he's going to go out there right now and go participate in other shows from other companies. [Caller] [18:12] I think they're going to be on the show on Friday, by the way. [David] [18:15] Disgusting. Anyway, did I say that out? Oops, I thought I was muted. [Caller] [18:20] Promo image. Wait for the promo image, though, because I'm going to have it. [David] [18:22] I am telling you right now. Don't worry, Rex Rex got people he knows. On that. Um, and then, uh, yeah, whatever. Fuck you, Landy. You know, [Caller] [18:40] I can always get you to break just a little bit. But I love you, brother. Take care of yourself and have a good one, Charles. [David] [18:44] I love you too, man. [Caller] [18:45] Hey, Bitcoin Bridge, how are we doing this, Charles? I I need to know. What's going on with Midnight and Bitcoin? I I need to know. Also, hey, [David] [18:54] Give me a question. I'll ask what do you want me to ask Charles? [Caller] [18:57] So, Charles and I have spoken here and on your stage as well a few times about Bitcoin because he understands what Bitcoiners want, right? When it comes to [David] [19:07] Quickly, quickly, we got commercial break. Come on. [Caller] [19:09] I want to know, um, how, uh, either Cardano or Midnight is going to interact with Bitcoin. Um, we had that Glacier drop. Bitcoiners got a lot of, uh, night tokens. So, I want to know kind of what direction is it might be headed in, um, with, you know, Bitcoiners and the opportunities that might be available in the future for for Bitcoiners when it comes to Midnight as a network. And then also, Midnight City. My agent is just sitting in this pod. I want to go hang out with David. [David] [19:41] I will ask him these questions because I have a lot of people asking me the same thing. They're like, yo, we want to gang gang with you, bro, but we can't get in. So I'll I will ask him. [Caller] [19:50] All right, thanks, David. [David] [19:52] You're welcome, Landy. Landy, the puppet. Everybody, Landy the puppet. He he just submitted two questions to me to ask Charles. This is crazy. It's crazy. This is crazy. Anyway, we'll be back right after this commercial break. Sponsored, of course, by Midnight. [David] [20:14] What first got you excited about blockchains? Think about it. Oh, wait. I bet it wasn't multi-million dollar hacks, exposed data, or finding somewhere safe to store your seed phrase. Was it? Maybe it was the idea of decentralizing a broken financial system. Maybe it was imagining a world where people own their own data and get to share in the value it creates. Or maybe it was the promise of a fundamentally better way of connecting, communicating, and transacting. The next phase of the internet that empowers us instead of exploiting us. So, why hasn't it happened yet? Why are we still living with the same broken system that blockchains promised to fix? It's because blockchains can't keep a secret. Enabling open, transparent systems was only the first half of the challenge. For blockchains to really change the world, they also have to be able to protect our sensitive data when it matters. And that's why we built Midnight, to bring down the final barrier to mass adoption and unlock the full potential of the decentralized web. Let's build the internet we deserve. Together. There we go. United States of America representing. Socialism doesn't work. Digital assets. Is it better to move money at the speed of light? People are greedy when they also try to acquire gold. I am here providing electricity and that energy that is necessary. I am the modern day Tony Stark. Welcome back to the show. Episode 773. Title sponsor Midnight. And we might have Do we have? I think we have somebody that might know a few things about Midnight. So let's get inside of the head of this man. He's backstage. Let's bring him in. Charles, my friend. [Guest: Charles Hoskinson] [22:25] Hey, hey, good to see you, David. How are you doing? [David] [22:29] How are you doing? You look I I got to tell you, I call myself the most electrifying media personality that there is within this space and outside of it. I saw you on stage and you're electrifying. You are really sharp and it you're always sharp, but you are really on fire. [Guest: Charles Hoskinson] [22:49] No, we're having fun. You know, this is Jackson Hole and uh it's like the Bilderberg Group of crypto. So all the big guys are here. Brad Garlinghouse was here, CZ was here, hanging out with Senator Lummis and Senator Scott uh and you know, talking clarity, talking the future of the markets, talking about all the things going. You know, we got our pet back on our step. The bull market's coming. And we all feel it. We all taste it. It's there. It's just it's in air. It's electrifying. And what's cool is I said, hey guys, you know, we need a new narrative. You know, I saw it so many times before. I saw it in the old days of Bitcoin when it got stale and boring and then Ethereum came out and then I saw it in the second wave with Solana and Algrand and Cardano. And we see it again. You know, the subtraction wave, the privacy wave, the agents wave, the the web 2.5 wave. Everybody's starting to get it. And they're starting to say, hey, we we got some products to build. We got some things to build. We're excited about it. Uh so, uh it's coming soon and uh you know, everybody's laying their track, you know, they're getting ready for the trains to come hit the frontier. Uh you know, the other thing about it too is just uh there are a lot of a lot of political power still inside this movement. You know, what's going to have a meaningful impact on the 2026 uh election and certain races that were just absolutely going to be lost are still in play because crypto money's coming in. And that keeps things like the Clarity Act alive, which has been changed a lot. Um I've had many conversations to try to get it into a better shape. Uh and hopefully September 15th will actually be able to get it over the line. It had a lot of problems at the beginning of the year, but they actually listened, they fixed it. There were over 300 pages of adjustments and uh modifications and other things. I don't think anybody realizes how much work's gone into it. I was talking to Senator Scott. I said, is there anything comparable? He said, you know, we worked on this three times longer than Obama worked on the CFPB. And that was in response to the 2008 financial crisis, this one bill. So it's just like the world's worst constipation. You got to get it out. It's just got to come out. It's there. It's rock hard. It's just you've been trying, you're straining, you know it's not going to be pleasant, but God, it's got it done. So hopefully we can get this baby out next month. [David] [25:03] All right, we'll let's stick on regulation. We'll go get into Cardano Midnight. I got questions from Bitcoiners. Uh Bitcoiners have asked literally, they are contacting me asking me uh to ask you about things that involve Bitcoin Midnight. So, let me just go with the Clarity Act because you mentioned that and then we'll go into the CFTC. Uh SEC CFTC uh guidance and all that good stuff uh and we'll leave uh away there. Uh Clarity Act, you said September 15th. Uh there's been a lot of talk uh about it potentially passing on that date. Uh what are your being that you're out there right now, you're you're some you're being surrounded by political, um, political I would say politicians are surrounding you right now. What would you what would your percent rate be here on the Clarity Act passing on the 15th? What chances do you give it? [Guest: Charles Hoskinson] [25:55] Well, I mean, there's procedural things they have to do to get cloture closed and then get to the floor of the Senate for an up down vote. Um, so what Scott's trying to do is get the Republicans to vote as a monolith. If every Republican senator says yes, and then

[Part 4 of 8] [Guest: Charles Hoskinson] [00:00] there's about 19 Democrats in the Senate who could be persuaded given concessions to jump the fence and come and vote for clarity. We call it the Genesis, the genius list, because those are the Democrats who voted for the genius Act. So they're already saying, hey, we need crypto regulation and get it done. So, uh, there are enormous conversations going on. And you have like the staff is requesting a lot of stuff, ethics concessions being made. Uh, the White House meeting that was held yesterday, really a lot of that was about horse trading of what Trump is willing to give up to basically get it over the line. Um, and what's the industry willing to give up and what shiny pennies can we give to the uh, vampire legacy industry so that they go away. So, you know, there's a lot of that, a lot of that going on right now. And it's uh, it's not dead. Um, 100%. I'd say we're sitting probably about 46% in terms of the ability to pass. The cynical problem is the Democrats believe that they're going to be able to retake the Senate and the House or at the very least the House. What that means is that they're thinking to themselves, why vote now if I wait six months, I can get a significantly better deal. So the question is, can enough concessions be made that the deal that they would get next year would be somewhat similar to what they can get now. And they can take this issue off the table and deradicalize the right. Because right now, an enormous amount of money, probably 400, 500 million is coming from the crypto industry into the Republican elections, none of it for Democrats. Because they're taking the Sharon Elizabeth Warren crypto equals Trump equals bad and you know, everything about crypto is horrible. So it's hard when you're running for office and suddenly $20 million gets deposited into your opponent's accounts and then gets they use it against you solely because Elizabeth Warren who you have no relationship with has decided to basically brand you anti-crypto and the Democratic Party about that. It's not good politics. So by passing clarity, some distance there for people who are on the left appropriate now, it makes it easier for them to vote for the left because the crypto issue is no longer on the table. You know, people vote for their wallet. So that that's definitely, um, that's definitely a big part of it. Here Wyoming, we just had a primary and it was brutal for Trump. Absolutely brutal. So we had the Freedom Caucus in Wyoming. They're like the pro-Trump maga people. Wyoming's all Republican, it's 73%. So it's like, it's not even a question if you're Republican, it's like what flavor of Republican are you, okay? You know, how red are we? The Freedom Caucus is like the red of the red. They're the most Republicans of Republicans here. And uh, they've ruled the roost since Trump got into office. They were very powerful and got kicked out of office basically with this primary. I think a lot of that has to do with the Iran war and uh, the distaste that the right has for it. There's there's the far right is very much against it. And a lot of it also has to do with some of the things being broken, campaign promises that they perceived to be broken. So, uh, that repudiation here local is going to have an impact nationally. What that means is the people who are most likely to vote Republican aggressively may stay home in November. So a lot of Republicans are trying to reset and figure out how to create some distance between themselves and the policy of the White House and uh, up to and including potentially some center of of certain content in uh, the White House. Um, so there's a lot of that. The Epstein files also have been in here in Wyoming. You know, Todd Blanche is the guy who literally buried them. The Republican Party said they weren't happy with that, but then they made him attorney general, just voted him in block. So there's like a gap between what they're saying and what they're doing and people are starting to get very angry and there's kind of a palace coup that's forming. So those politics are getting very toxic. The grass is not greener on the Democrat side. They got Abdo, Michigan, they got Mondani. Things are uh, things are not all so well in that house. They they they fed this monster, uh, and they didn't really fully understand what they were embracing and what they're getting and it's tearing that party apart. So they're like, whoa, whoa, whoa, we just wanted the votes, man. We didn't actually want these people to be in power and do stuff and be in charge of things, right? And they're like, no, actually we're going to be in charge of things and we're going to go in Dearborn and hold protests that look like look like like marches in Afghanistan or Iraq. This is nuts. It's like, whoa, hang on, that's not really popular with the general electorate. So the problem that people are having come November is that while they hate the Republicans, they really hate the Democrats too. So it's it's like, do you want to be kicked in the face in the nuts? What would you like? It's like, oh my God, I don't know. This is bad. And crypto's just trying to navigate this. It's trying to be like, you know, how do we fucking neo bullet time dodge all this shit and just push it on through? And I think I think some of the senators right now, their feeling is just like we've put so much fucking time in this, we've had so many fucking conversations. These crypto people are not going away. People go away after a while, and we don't want to spend the next two fucking years having these conversations again and the protest and the letters and these and that and the financing. I think they there's the only thing that's going for clarity right now is the fatigue of just getting it passed and finally getting it done and, you know, moving on and trying to fight another battle. What we've told a lot of Democrats behind the scenes is, look, you pass this, you get a lot of say because the joint commission between the CFTC and the SEC where the rule making's going to happen, there will be Democrat representation there and this is where you can sneak in your ethics and insider trading and other things you're concerned about and so the rule making set. So this is the beginning, not the end. And if you don't do this, uh, they're calling the bluff of Democrats, the SEC and the CFTC can do rule making, which is you just mentioned they recently did. Um, and the problem is those are sticky. Even if the regime changes, you can't be like, well, we got all these things, we said it's this way, but we're going to do a 180 and then now we're going to sue people. You're going to go to court and say that's a promissory estoppel. I mean, this is unconscionable for the SEC to say this is the way it is, we've made the rules and then reverse all of them, destroy our businesses in the United States. That's just not something you can do as a regulator. It's it's radically inappropriate. So I do believe that, um, it's going to be very difficult for them to remove wholesale all the regulations if a Democrat gets elected in 2028 for the White House. But they will they will do is through lower all. So they'll say, oh, you need to get a license. Okay, yeah, well, yeah, we'll we'll look into it. Yeah, it's like a teamster in New York, you know, like, yeah, yeah, yeah, we'll get around to it. Yeah, we'll fix your plumbing. Don't worry about it. Yeah, we'll get Yeah, yeah, I'll come by. Yeah, sometime, you know, it'll happen. [David] All right, so Clarity Act, maybe a good chance for it to pass. Okay, it's a starting point. It's something for the banks. It really to me, it's for the banks and yes, there's a there's trillions of dollars waiting to get into crypto based on the Clarity Act. So I I guess so, whatever. See, SEC, uh, the most pro crypto SEC that we've ever had has come out with guidelines. And I looked at them, I read them. I think they're awesome. From a standpoint, I think they're good. No, no, I say awesome. I think they're really, really good. Um, what were your thoughts on that? When the SEC came out with their own guidelines, they were like, you know, whatever they're doing in Congress, we can care less. We're coming out with guidelines so you guys can understand what we're looking for, uh, what's a security, what's not a security, what's a commodity, what's a currency. Your thoughts on that, Charles? [Guest: Charles Hoskinson] [00:51:51] Well, you know, I I I've known Paul Atkins for a while. He even spoke at one of the Cardano events and I we have friends of friends and I've talked to him in person. Um, he's he's the right man for the job. You know, he he doesn't hate cryptocurrencies. Uh, you know, he thinks that these are an instrument that are vital for the nation's growth and it helps globalize American power. So it really helps that when the chair of the commission is favorable to the asset and thinks that it's part of the story of America's innovation, uh, when you have a conversation about rule making. The SEC can only do so much without an act of Congress and what they released is basically as much as they can do without an act of Congress. So what does it mean? It means you're not going to have institutionalized scary Gary. By the way, scary Gary will be a character in Midnight City. We're still trying to figure that one out if the most impactful way to put it in there without getting sued by Stephen King for it. Um, but you know, you're not going to have like, let's just sue every exchange and let's sue every layer one and go after everybody. And there's some acceptance that ICOs are a thing and so they created some ability with the $5 and $75 million exemption. And and but they they based it on, um, the Jobs Act was, you know, series A, um, where you you have some concept of democratizing the investment and they just followed the bouncy ball to extend that, which is what Hester Pierce has talked about for a long time, especially with the Jubilee. So, I I think the regulations are very uh sensible. The the challenge is that they're not permanent. They can be reversed to a certain extent. Um, but the longer they stay in place, the stickier they become. Really, so it's it's a good starting point, but you don't get that surety and certainty that uh a law would basically give you. The challenge with genius is excuse me, clarity is it's just too big. There's too many things in it. And when you have a bill that's too big, it's like a movie that's too long. You can always find a scene you hate and make the whole movie about that scene. You know, kind of like the Odyssey, right? You know, everybody freaked the fuck out about alien page being in for like two minutes. Oh my God, oh, it's so bad. Yeah, that's your jive. I guess it's the world's worst movie. On the other hand, if you like practical effects, it's a masterpiece, right? You know, so you can always find something to hate the movie for and you can always find something to like the movie for. So clarity is much like that and so that's creating some delays in the momentum. So the CFTC and the SEC, they just have to move forward and do what they can do and institutionalize things. The most important thing for us as an industry is to get those things anchored into Black Rock and anchored into Morgan Chase and these other institutions because they own the Democrat Party. And so if if the Democrats get back in power, they're not going to go and say, well, fuck you, uh, we're going to change everything because then Black Rock's going to call them and say, uh, no, no, no, no, we're not going to do that. It's kind of like when the board tried to fire Sam Altman at Open AI and then Papa Sacha from Microsoft called them and it's like, yeah, yeah, I was not informed about this. What is uh, what is going on? You're going to put him back as the CEO now. Um, because, you know, they own 50% of the company, right? You know, Papa Sacha is is very powerful. Uh, so you have to go talk to him. So, so Black Rock is very powerful in Democrat politics, massively powerful as is others in the cartel. Getting them to normalize and build products and make money with these new found SEC regulations is probably going to make them as sticky as clarity would. [David] Um, what do you expect from the CFTC? You expect the same language that the SEC used? Because I'm watching yesterday's press conference. Mike, Paul, they're in love with each other. You can see there's an an actual relationship there, unlike what we had, what was it, six years ago, just nobody's on the same page. They look like they're absolutely on the same page and the announcement came about Hyperliquid where, you know, they're embracing it and bring it out here. What what are your thoughts? Do you think they come out with uh similar guidelines? [Guest: Charles Hoskinson] [01:58:39] No, you so you got to understand something. First off, uh, you know, I was just talking to some CFTC people, former and current and and the challenge the CFTC has is the SEC has got like 10,000 plus people. It's a huge organization. The CFTC, it's like 700 and they've cut it and there's like now 500 after attrition. So they're like 20 times smaller than the SEC. They're a very small organization. They're a principles-based regulator. So what principles-based regulation means is like if it gets too hot, we do something. If it gets too cold, we do something. But if it's, you know, the right temperature, we do nothing. We just stay out of it. Commodities. It's very different going from that culture, that scale, that size and going into an enforcement agency and actually regulating an asset as complex uh and risky as as crypto can be. So the CFTC needs a budget increase to be effective in this particular role, which they haven't gotten. They don't have the personnel, they don't have the culture and they don't have the scale to be able to do this. So what will end up happening is that the CFTC will have authority, but then what's probably going to end up happening is it's going to get kicked back in many cases to the SEC and they're going to rely upon them to actually assist in enforcement. So you'll see a lot more joint CFTC, SEC enforcement actions and they'll have a little bit of peanut butter with their jelly, you know, even though it's mostly jelly. So I think that's probably what's going to occur. It's the wrong agency for some of the things. They just like it because it's principles-based and more hands-off in certain things. Now, what people don't understand though is when the CFTC gets involved, um, it's usually the hammer of God. It's like the SEC gets involved, it's like Elon Musk doing the 420 thing, right? They give him a fine and say, hey, you know, don't don't do it again. When the CFTC gets involved, they're like, you're going to jail, bitch. You know, it's it's it's not good. Um, so, so, you know, yes, they're nicer in certain respects, but also when bad things happen, they're worse for you. So be careful what you wish for and they're not necessarily the perfect regulator either for a variety of reasons. So, um, yeah, the cooperation is unprecedented. Normally they're somewhat adversarial naturally because the nature of things, but uh, I I think it's a it's a temporary Jubilee and um, the SEC is the papa bear and they're bigger and they just have more money and more prominence. So this was one of my biggest issues with clarity. I said, guys, you you're doing the wrong thing. The follow-up from genius should have been focused on the Securities Exchange Act of 1933, amended and added a definition of a digital security and bring all of the digital security people in, tokenize and all these other guys in who are doing digital securities and RWA's and then go talk to the NYSE and all these other guys and get to a framework that everybody can live with in terms of disclosure, custody, broker dealer enhancements, uh oversight, how it works with in run series 7 and so forth. All this stuff. Once you have that off the table, you'll have liquidity and low cost to be a security. The compliance burden will go down orders of magnitude. So do you really care if you start as a security? Is it really as bad as it? No, not really, you know, for most projects. Then you've side stepped this issue of everything must go to the CFTC because SEC so bad because regulation old. And then you can really ask the question, where does principles-based regulation actually make sense? And what you have to do is the CFTC has to care less about the SEC and more about Mika and the JFSA and the DGM, like the global regulation. They have to care about that. Because these things trade on global markets with many customers all around and then you're really talking more about a normalization treaty where you're trying to figure out how to create universal standards uh so that you don't have to really care where the customers happen to be and you can have a chance for enormous innovation and you can keep that small size of the CFTC. But Washington did what it always did and went full retard and uh and said let's just make the CFTC bigger and scarier and then magically that'll just solve all of our problems. And then five years down the road it won't and then we'll have to go back to it and fix it. Okay. That's just what Washington. Oh my God. All right. Um, before we get into Cardano and Midnight and also questions from Bitcoiners who have said, well, Charles comes on, I'd like you to go ahead and ask him a few things for Bitcoin and how it aligns with Midnight and and could work with Cardano. Uh, you obviously have witnessed and I'm really upset about this. Cold card wallets exploited. Uh, and you know, you've had Treasure with uh third-party uh, you know, third-party uh vendors leaking data. Uh, SafePal had an incident. It's really unfortunate, especially that we're we're approaching 2027, Charles. You would think that and I don't give a fuck what kind of shit I get for this, but at some point you you dedicate 15, 20, 30% to security to simulate do we have any vulnerabilities here within our products? Because we've told people this is how you have to do things and they've done them correctly and then they wake up one morning and their wallets are drained. And they're told, well, hey, man, you know what? It happens and you just keep grinding. [David] Right. [Guest: Charles Hoskinson] [01:30:00] Nobody with money after these kind of responses, what I've seen on social media, nobody is going to well, who at least in from my personal opinion, who has money would want to come through come get big or Bitcoin, Cardano, whatever it is, whatever asset, come here to get it because I I'd rather call up Mary Lynch or Morgan Stanley, Black Rock and say, hey, buy me this amount of XYZ because I know at least if something happens, I can scream at somebody and it's insured. So, [David] Yeah. [Guest: Charles Hoskinson] [01:30:39] why am I going this way with the with the lack of attention to security respectfully? It's already 2027, almost 2027. We shouldn't be having these problems. We shouldn't have, you know, Midnight for instance, right? There's nothing wrong with Midnight Network. It has to do with bridging, which is something that should be solved already. We shouldn't have these things happening. To me, why isn't more money being poured into security and have some of these companies taken a cavalier approach and sat back and said, oh, we're good. We're good and we we don't need to look into these things. What what what what are your thoughts here? [David] Yeah. [Guest: Charles Hoskinson] [01:44:50] Well, you know, it's a deep topic and there's this is not a crypto topic. This is a long historical topic. The the Nazis were really smart. That's why they were so dangerous. And so what did they do with their big brains? They invented things like the Enigma machine and they thought that they had super secure communication. Unbeknownst to them, the UK was smarter and they had this thing called the bomb that they created. It was the first computer at Bletchley Park and they were secretly decrypting the Enigma machine and they were able to read all the communications. Okay, so what does that mean? It means when you have a cryptographic algorithm, it survives until an adversarial capability has a step change and then when you have that, then that capability breaks everything and then you have to go and fix stuff. So what was the response to the Enigma and the bomb to use computers to do cryptography and then suddenly we had significantly more secure communication. So you have AI that comes out. You have Daybreak and uh Fable and all this other stuff and these are incredible capabilities and actually Quentin uh 3.8 27B obliterated. It's like the best fucking hacking machine of all time. You just throw it on until it breaks something. So that means adversaries have gained a new capability and they're using it to break the wallets and the bridges and other things and it turns out that the vast majority of software has some latent problem with it. So what will happen in the midterm is that the people building software will use these capabilities to build significantly more secure software as part of the development workflow. And so just like computers doing cryptography end up getting much better crypto, well you you get much better crypto uh uh security with these capabilities. In the short term it's Armageddon. You lose the war, right? You you just they can they can steal everything that's not bolted down and people that even don't get hit are getting hit for the first time ever. So that's one dimension of it. The second dimension of it is that you don't build a fireproof home and then magically in your mind think there's never a possibility in any sense of the word that it'll ever burn down. What you do is you say, okay, it's fire resistant, but I'm still going to buy fire insurance for that home, right? Okay, so you need wallet insurance and you need bridge insurance. And we need to figure out a structure to do that. So I was just in Bermuda. I spent time with the BMA and Pemrose and other insurance companies. We had real serious conversations about what would a world look like for insurance products where you as a wallet holder can pay a monthly fee as a premium and if these things happen, you get a policy, get your money back. So even if the software gets broken, you still have some sort of lender of last resort to basically reimburse you. That's the adulting of the industry. Now, it's good for the industry. Why? Because insurance means pooled collateral and returns. So those are RWA's with big TVL and big ROI and it's more stuff to bring into the cryptocurrency space and fast-moving jurisdictions like Bermuda can create regulatory frameworks to make these things happen. Why we haven't done it is you need identity. So you need something like Midnight to facilitate that, uh, because you know, it's like, how do you prove that's Goshstein's wallet? Well, in the old crypto way, you'd have to put your identity into that wallet publicly for everybody in the entire world. You don't want to do that. But what you want is to be able to link it to like Midnight passport or something. Nobody knows it's linked, but then if it gets hacked, you can prove you actually owned it in a non-reputable way and you can get your policy for that. So that that's some emerging technology that we're really excited to bring in. We think there's going to be a lot of great capital pool products that solve that. And uh that helps chip away at the issue. The other thing too is you really have to ask, is self-custody the best solution in all cases? Or maybe it makes sense that you have custody by proxy and you're able to control the rules about what they can and can't do with that. Right now we live in this binary. Either you have it or you don't have it. Okay? And and that's not good because if you have it, it's you know, whatever, man. If you lose it, you lose it. You lose your life savings. If you don't have it, they have total control over everything and they can just tell you, it's like Bane and fucking the Dark Knight Rises. Do you feel in charge? You know, you're me to you, right? And and so you're [David] You're merely born in the dark. [Guest: Charles Hoskinson] [02:16:47] Yeah. I you merely adopted the dark. I warn it. J.P. Morgan. You know, so so what if you had a third option where you could let somebody hold on to it, but they don't they don't have God mode. You can recall it, you can do all kinds of things. And this is what we're learning with the OWS standard and agentic trading and these types of things where agents have wallets. The agent can be the custodian in a trusted execution environment using more sophisticated cryptography like multi-party computation, for example. And if you have that, then suddenly you you control the rules, you're delegating, you have access to it. People can't freeze it, but you don't have the keys per se. You have something else to facilitate that. And that's a very powerful play because those policies prevent wholesale theft and they broaden your security model in in that respect. So there's no one size fits all or magic bullet to solve all of it, but you just have to recognize this is a recurring pattern of build something, new capability comes, break your shit, use the new capability to build a better thing and then quantum computers are going to do the exact same thing after AI to Bitcoin, right? It's just going to hammer all of us. So it's an endless loop. It's never going to stop. That's okay. Plan for it, build for it. Then build risk reduction products. By the way, the existence of insurance forces the software to get better. Because I'm not going to insure your wallet if you're bad at building wallets, okay? I'm only going to insure it to a standard. So that alone massively improves the quality of all these things and really enhances and creates a halo. And then being able to have that third option between custody and non-custody, where you have delegated custody and you put the rules on it, then the vast majority of people will pick that option. It's effectively what they're doing with exchanges. They're like, look, as bad as it is leaving you on Binance, Binance is probably not going to go out of business and, you know, they're probably not going to get hacked, they're less likely to get hacked over me. So I'm just going to leave it on. We tell consumers not to do it for 15 years. I said, don't do that, but like 80% of the supply of some cryptocurrencies is sitting on Binance. They're the custodian basically. People just leave it there and they just because it's easy, right? It's two-factor authentication, it's a KYC account. Something happens, they have a claim against Binance. Whereas if they have self-custody, if something happens, they just lose all their money. So innovate with products to get out of it. Does that make sense? [David] It makes total sense. Um, I wanted to I wanted to I saw this before you reacted to it. And this is leading into Cardano, obviously. I saw this before you reacted to it. And I was like, I mean, are they ever going to give uh Charles any sort of credit here? Let me go ahead and pull this up. [Guest: Charles Hoskinson] [02:59:59] credit for the UTXO, right? [David] This right here. I've seen this and there was another post that you did.

[Part 5 of 8] [David] [00:00] But I seen this one and I'm like, are they ever just ever going to acknowledge like ever going to acknowledge that, you know, you've already done this. So, uh, it it's just it's just funny to see. It it really is funny to see the hypocrisy in this space. Yeah. Uh, respectfully. What what do you what are your real thoughts besides besides the office, uh, meme, uh, what are your real thoughts on that? [Guest: Charles Hoskinson] [00:30] It's sad because if I was an ether holder, I'd be pissed. Because of a personal vendetta of a small group of people, they are slowing down and disadvantaging the entire Ethereum ecosystem. They think magically they're just going to go to Bitcoin, copy, paste the Bitcoin UTXO model, put smart contracts on it. I got a news flash for you. You can't do that. I know this personally because I spent 11 years of my life figuring out how to do this, writing papers, building code, doing all this stuff. So Cardano has a beautiful blueprint for the design patterns, the security model, and how to do an extension of UTXO for smart contracts that are comparable to to Ethereum. Bitcoin does not. And they've never solved that problem. They have some subsets like simplicity on a side chain that Adam Back figured out, but by no means does it have the capabilities and expressiveness that Ethereum has, whereas we do. So, if they ignore Cardano, say it just doesn't exist, they have to start from scratch and magically reconstruct every single thing we've come up with and done. Even if you're a genius and a rock star with super duper AI man, it take you a few years because it took us 11 with all these programming language experts. So, yeah, if as an investor in Ether, ask a very fundamental question. Why can't we just take this open source thing from Cardano and collaborate with the Cardano people and work together and in six months have a capability? Why? Because of a personal vendetta of a small group of people in the roadmap group, do we ignore all of this and then labor ourselves with three or four years of of roadmap to get this capability in? Ego. It's it's just I would be pissed if I was an Ether holder, an Ether investor, that they're letting a personal distaste for a single person get in the way of an entire ecosystem's growth and progress. That's the face palm. It's not I want credit. They're never going to give me credit. It's okay. I I yeah, I I I'm the persona non grata. There's one word. It's like the Voldemort. You can't mention he shall not be named. You can't say the C word. Fine. But for the good of your ecosystem, have enough humility to admit that maybe, just maybe, that in 11 years with 168 scientists and 300 papers, we figured out how to do something with smart contracts that's novel and interesting on the UTXO side that could be useful for you guys. Which by the way, benefits us. Because if they adopt it, there's developer interoperability and it's easier for Ethereum developers to work with us and Midnight and other products. So it's not like we would just be like, no, we don't want to work with you. We'd be like, actually, that's great for both ecosystems. This is a natural, easy, academic and engineering collaboration, which of course, no transfer of money, no apologies, just an acknowledgement and just a desire to work together. [David] [03:30] And that's so cool of you. You're willing to But that's what you're showing that. You're showing that type of leadership is saying, let's regardless of what's happened, let's work together. We have it. You you don't have to rebuild. We have this here. I'm willing to work with you guys. We have a bunch of other people, scientists willing to work together. It it's to the benefit of the ecosystem. Forget about just one particular holder group. It's it's the benefit it benefits the entire ecosystem. So that in itself, I I love hearing that from your side, like, hey, like, fucking let's go. Let's let's let's work together. There's nothing wrong with it. [Guest: Charles Hoskinson] [04:09] As a Midnight and ADA holder, it makes me happy though, you know, you go back to my bags. When your competition makes mistakes like this and they're self-inflicted, holy shit, that's like Christmas came early. Uh, it's it's just you just feel all warm and fuzzy inside. You say, God damn, I love it. That's like somebody saying, you know what? I I just hate that guy's car, so I'm going to walk instead. Okay. I know you really hate that guy's car, but, you know, you kind of have to like walk across the desert. That's a long walk. Oh, fuck that guy. I'm going to walk. All right then, I'm just going to drive in this air conditioned car across the Nevada desert. Best of luck walking without water in the desert. You know, have fun on that asphalt road. See if you enjoy it. They literally signed up for that. And what's so sad, David, is it wasn't taken to a vote by the Ethereum ecosystem. There was no on-chain governance action like, should we ignore Cardano and fuck Cardano and Charles Hoskinson's pure evil? One person, Vitalik Buterin, his personal ego and childishness made this decision on behalf of the entire ecosystem to the detriment of every single bag holder of Ether. And they'll go along with it because he's God and he's got the tastiest cock in the world. Great. But, you know, it hurts them as Ethereum bag holders. It hurts them and it helps me. So, their hatred of me helps me. That's awesome. It's a self-inflicted mistake. I, you know, gives me something to work with and as long as they make these self-inflicted mistakes, Cardano's still in the game, uh, with respect to being an Ethereum killer. Sad that in 2026, we're still doing this because we can all share in wealth and the pie. We can all get along and all work together. There's no need for it. It's a very childish thumb zero mentality. Uh, but if that's what they want to do, that's what they want to do. And when we get back in the top 10 and then in the top five and beyond, uh, these are the kinds of things people are going to remember when they do their postmortems and they'll write books about it. Not crazy insane Lars Hin books, uh, that are works of fiction. They're going to write business books about the Ethereum mistake, the Ethereum tragedy, the hubris of Ethereum. Just like they wrote books about the failure of Yahoo and BlackBerry and all these other things that used to have these powerful monopolies and interpersonal relationships and ego and other things to destroy them. [David] [06:25] Um, it it really is sad. It is sad and I I hope they take the option of working together versus, you know, being stuck in this echo chamber that they're currently in. Uh, which though, here's the positive moving forward. I I've had discussions with Bitcoiners. I've talked to Bitcoiners, even Maxis and they're like, okay, Dave, you're so bullish on Cardano, you're so bullish on Midnight. Tell me how Bitcoin can go ahead and integrate themselves with Cardano, with Midnight. How can we work together? So there's there's your there's the light. The light's gone off, Charles. Bitcoiners do. Bitcoiners, not the Maxi crazy Maxis. I'm talking about real Bitcoiners do want to find a way of understanding how Bitcoin can integrate itself with Cardano and Midnight. [Guest: Charles Hoskinson] [07:15] Yeah. [David] [07:16] You're the genius. [Guest: Charles Hoskinson] [07:16] So let me show you something. You know, a picture's worth a thousand words. I'm sharing my screen. This comes from Torbin. And Torbin is just a goddamn genius. You ever see the Teenage Mutant Ninja Turtles? You had Kang, the fucking brain that just had like the bodysuit. This is Torbin. He's a super smart guy. So, Torbin is the lead engineer on Bitcoin DFI for us. And he works with the Bit VM guys. So, when we started, this is where we were at. A proof on Bitcoin was 40 gigabytes in size. This is what Torbin was able to do with the team. A proof is now 0.00 0.0281 gigabytes. Tiny proof. Used to take 354 seconds to validate a Bitcoin DFI proof. Now 0.149 seconds. Used to cost $14,000 to validate that transaction. Now it costs $37. And this is one year of working on open source infrastructure for everybody everywhere. 28 megabytes versus 40 gigabytes. That's a fact. Those are real numbers. Those are verifiable. Everybody can see them. They can test them. This is open source software. That is the brain of Bitcoin. These zero knowledge proofs can have arbitrary smart contracts inside of them. So that is how the cost of programmability for Bitcoin. A 1,000 X improvement from technology running on Bitcoin. So, I was just with some Bitcoin guys, um, and we're talking about Bitcoin DFI because we're getting commitments now. I think we have about a half billion soft commitments and we're working our way through it. It's going to get into the in the 10 figures here soon. And I said, look, I want Bitcoin to be Bitcoin. Everybody in the world wants to change Bitcoin. I did. Everybody did. They just are all running around. I want to change Bitcoin. I want to change Bitcoin. Let Bitcoin be Bitcoin, okay? And so, build a DFI layer and Bitcoin shouldn't have to care who the winners and losers are. Some days it's XRP, some days it's Binance, some days it's Cardano, some days it's Solana, right? It's not Bitcoin's problem. Bitcoin's been here since the beginning. It the the top 10 in the coin market cap has gone all crazy. Used to be Peercoin and Namecoin and Litecoin. Okay, new shit, right? It's not Bitcoin's problem. Make it programmable, make it cheap, and have the security be Bitcoin. Then project the Bitcoin into whoever the flavor of the week is and let Bitcoiners get a return the way they want it, how they want it. Just that simple. So, we focused on fundamentals. We said the security model has to be Bitcoin. It has to be mirroring. It's not a wrapped asset, but mirroring, which means it's you're not creating a new asset. It's non-custodial. You control it. It's not a bridge. What does that mean? No taxes on that. Okay, it's your asset. It has to be lendable into a stable coin because you're not going to go sell your Bitcoin. What do you want to do? You want to get value out of it with a holding it. So, you have to lend it to a stable coin. Then once you lend it to a stable coin, what are you going to do with it? You're going to place it in DFI. If it's multi-chain signatures, which is what we have with Midnight, what does that mean? You can place it in Hyperliquid, Binance Smart Chain, Solana, Cardano, Ethereum. It doesn't matter where. You make a yield. You decide what that comes back to you as. Bitcoin, stable coin, and what network it comes back to you as. Go to Goxteen's couch cushions. It can go to your Binance account. It can go back to Bitcoin, right? It's your call. And with Midnight, it's like a VPN for financial privacy. You click the button, it's private. Nobody even knows you're doing it. It's on you. It's your thing. That's the Bitcoin ethos. So, we're so proud of the fact that in just a year's time, we went from 40 gigabytes to 28 megabytes, 354 seconds to 0.149 seconds, $1,400 to $37. We have a roadmap to make it even better. Okay, the technology keeps getting better and more expressive and faster and so forth. So, that's what we brought to the table. When Bitcoiners saw this, they said, holy shit. These guys really know what they're doing. It's like, how do we know it's secure? It's like, guys, come on. Fucking it's that we we we know what we're doing, okay? We're secure. That's not a problem at all, right? We we've got this. It's good. We got the. Don't worry about it. I'm Italian. I know what I'm doing. We make it with love. I was just with Scaramucci actually. Anthony Scaramucci runs the Salt conference and we were just like going full Italian mode. It's like, hey, you know, you you've been to New York. He's like, I used to live in New York. He's like, oh, I want to give you good Italian food. I've had good. You don't know the Italian food that I know in New York, okay? I'm the Mooch. I you know, Joe Pesci's going to be there. It's going to be great. You're going to love it. He says, is he still alive? He'll be alive for you. [David] [11:38] I'm Italian. I know what I'm doing. We make it with love. Scaramucci's good. He's been on the program multiple times. Good guy, really good guy. [Guest: Charles Hoskinson] [12:12] And it's on AJ's uh rock star. He's he's a very cool kid. He's got one of the craziest things. He's doing like this uh this IPO where he's going to have a company where he's going to wrap uh uh like a treasure hunt. He's going to go buy all these exotic assets like Neil Armstrong's fucking space suit on the moon. He's going to securitize it. He's going to make a revenue and it appreciates in value. It's like this is like what Mean Points wanted to be when they grew up, man. That's great. But AJ's always he's a super smart kid. But my point is that we put the Italian mode into Bitcoin DFI. It's got love, it's amazing, it's everything and it loves you for who you are, Bitcoin. Doesn't want you to be anything else. We're not building a layer two or any of this other stuff. It's Bitcoin at the end of the day and you have Bitcoin security. So this is like so exciting and the fact we've gotten so many commitments so quickly. I'm very excited that when we flip the switch, it's going to go like wildfire and it'll start with institutional because they have huge piles of Bitcoin and then the retail side will come very quickly through B2B to C and so we can syndicate it. And my goal is just click the button. You know, like blockchain.com or all these things. They have a little toggle. You just click the button, you start making a yield on your Bitcoin. [David] [13:19] Yeah. [Guest: Charles Hoskinson] [13:20] We learned this from Cardano. You know, we only have like 50k participating in DFI. We have 1.3 million people participating in staking. So, everybody likes just clicking the button. Make money button. You click it, it makes money. Life is good, right? Oh, God, I got to do DFI shit. I don't know about it. That sounds risky and weird or anything. So, I want to get the retail B2B to C experience, just click the button. And I think you'll see like 50 or 100 billion dollars worth of Bitcoin flow on through. And by the way, if you make yield by lending to stable coin, that means all that Bitcoin becomes stable coin and then you got like 50 billion dollars of stable coin floating around too. And if Cardano's hosting all of that, we're like right behind Ethereum. TVL. That could happen in 12 months. Yes, you don't bet against me, man. We we're going to win this fucking fight. I'm so tired of this bullshit. I got a cat shirt on. I'm going to win. [David] [14:10] I have not bet against Cardano. I I have been you know what it is out there in crypto Twitter when you mention the word Cardano, you get like 90,000 haters coming at you. Oh, what's your And then you get into a debate with them and you're like, okay, explain Cardano to me. Go ahead. If we're going to have a debate here right now, explain it to me. Just give me a give me a simple give me some cliff notes. [Guest: Charles Hoskinson] [14:34] Oh, I don't know. I'm just I hate it because it's trending. [David] [14:37] Then I have nothing to talk to you about. I'm not wasting my energy, okay? Learn about it, come back to the table, then we can have a conversation. Uh, a Bitcoin is asking you now, is there a product or a platform available yet or on the roadmap that you speak of for Bitcoin? [Guest: Charles Hoskinson] [14:55] Yeah, so so on the retail side, it'll be B2B to C and so Polgon will be an underlying protocol and then it'll just work its way into places where you already have your Bitcoin and you have the toggle. You click it and then it's like got a basic mode, advanced mode. On the institutional side, the product is rapidly coming online. I think around probably December, we should see the first cohort and then throughout uh the first half of next year, like huge amount of TVL starts moving over. So, what we're doing right now is we're getting technical and business requirements for integration because the first step was make Bitcoin programmable and make it cheap. I can't have a $15,000 transaction. I'm just I'm not going to buy a fucking car every goddamn time I want to do a transaction. So, we had to make it 30 bucks, right? It's the cost of a steak at the at Denny's. So, we uh we go, we go do that. Now we're good. We're going from the Toyota Prius to the steak. And then I think I go from the steak to the coffee, you know, that's the coffee test. So, that's what we're doing. So, now that that's done, now we're doing the um the next level up in the integration and people forget I've been in the space forever. It's like, I was one of the largest Bitcoin holders in the world for a bit. When we did the Cardano crowd sale, we converted the yen into Bitcoin. We had 108,000 Bitcoin. And it was funny. I was with Mike Belshi, you know, Mike is the CEO of Bico and they were a custodian back in the day. And I was like, Mike, remember when we did that? He's like, holy shit. Yeah, that was a lot of Bitcoin. It was a wild times. It was like, yeah, it wasn't worth that much back then. It was like 250 bucks. So, we know all the Bitcoin guys, right? We call them and we say, hey, you want to get some yield on that? And they say, yeah, what do we got? We'll find some couch cushion money to throw it in. So, it's not going to be hard to get the numbers high if the product is good. What really mattered to them was, don't change Bitcoin, don't do some fruity, weird ass fucking layer two thing and, you know, who the hell knows. I got to have custody, um, you know, I got to be in control. We got to do lending the right way and we have to have the ability to project this and not pick winners and losers. We don't want to get locked in to chain A, B or C or D because Bitcoin is eternal and all you shitcoiners, you know, you play musical chairs with using the content, right? So, if we're going to be real, it's like it's got to be a Bitcoin centric view and I don't want to I I it's like it's like like having an affair with a fat woman. You know, it's a lot of fun, but you don't want to tell your friends. You know, it's we don't want to we don't want to tell our friends we're doing altcoin stuff, right? You know, we're just just doing something over there. You know, so you got to keep it behind closed doors. So, so that's what they tell me. I say, you know what? I will be your girl. You know, it's okay. I I I I let me earn your business. We'll figure this out. And it's been just great. And uh these have been fun conversations. It's like being young again. I've lost a little bit of weight. You know, we're really traveling, we're really we're we're really getting it done. Uh and uh, you know, it's a small team and they're very agile and the fact that they've been able to do that much in such a short period of time, provable. Like these transactions were not on some test net. They were on Bitcoin main net. We paid that $15,000 transaction. We paid that $37 transaction fee to verify these types of things. We've learned a lot in the in the process of doing this stuff. Uh so, uh I'm very excited that we have that, you know, and it's a it's a big competitive differentiator. Why Cardano, you know, it's funny because we talk about all the old Bitcoin technology like color coins and uh some of the attempts to make add programmability to Bitcoin and they're like, wait, Cardano has all that? Yeah, our native asset standard is on chain color coins. They're like, oh, yeah, that's cool. That's I'm glad somebody figured that out. Yeah. It's the same for Lightning and Hydra. Lightning Hydra is what Lightning wished it was when it grew up, you know? It's like the little kid who wants to be the superhero, so he wears like the uniform and he's having fun. He's like, he's Spider-Man and he's like, oh my God, he's really Spider-Man. Look at that. That's so cool. That's what Hydra is. It's Spider-Man, okay? Lightning is the kid that dresses up as Spider-Man and watches him on TV. So, when Bitcoiners see this, they get envious. They're like, man, I wish Bitcoin had all those capabilities. That's awesome. But because of that success, it makes it ridiculously easy to do Bitcoin DFI on Cardano. And you'll know this because Vitalik will claim he invented it three years from now, when he has his uh his crazy shit UTXO. And uh he'll have Kimo Bitcoin DFI. [David] [19:15] Charles, never lose this spirit. I love you know, you know I love it. I appreciate it. Uh, all right, I got three quick because I know you're listen, I know I can't take up all your time. But I have three questions. One of them, I I know you're going to probably give a good long answer on and two are pretty simple, I think. You I was watching you live at Salt and you said we are, you know, in crypto, we're building a product for a product for a product. I think I I'm paraphrasing here. And that caught my attention. Like when you said that, listen, you've said a you said a bunch of good stuff there and I noted it down. I just when I here for four hours, but that caught me there. Uh, what do you think how do we change that? Because I agree with it's a product for a product on top of a product. It's like I got I got you when you said that. [Guest: Charles Hoskinson] [20:04] It's so crazy. It's like every fucking pitch I get, they're like, I'm doing this, so you're like a less popular, less valuable, more risky version of Ave. Yeah, well, we'll win one day. I'm doing all this, so you're less popular, more risky, less liquidity version of Uniswap. You know, there's 12 categories in DFI and the top five, there's like a massive winner's take all distribution and these are commoditized protocols at the end of the day and I don't care if you're slightly faster or better, it it's just it's just boring. It's so boring. You need a new narrative. We need to do something different. I said, well, how about we have a new world where you interface for cryptocurrencies using agents? And then the agents deal with all the super hardcore fucking crazy shit and they fully understand your intention and then the agents can do all kinds of crazy things. Like I just met with CEO Coin Tracker and we're going to work something out here in a bit. But I'm like, hey, if the agents are doing a lot of trading, you're probably going to have a lot of tax stuff you have to deal with, right? Well, what if you have just like a little toggle, you click it and it automatically does all that. Oh, yeah, that's actually a pretty good idea. Okay. Let's do it. Let's just get it done. So, you need a new narrative. And Midnight City kind of brings that to bear. I just had a Midnight City meeting. Some of the shit we're working on, man, is so incredible and so advanced and we keep just pushing the boundaries of the possible. And you only see the very minimal tip of the iceberg and we're kind of holding things back a little bit because uh the cost will go up so radically. If we just turn it on, we'll get a million people, we'll burn like $4 million a month on hosting fees like Open AI does, right? So, we're like, hang on a second, let's hold it back a little bit and we keep making it more efficient these models, just like the Bitcoin DFI side. So, we're real excited about that future. And this solves the biggest problems in crypto, the safety problem, the simplicity problem, right? The universality problem. I don't have to fucking care where it's at. It should just be like David at Goshstein. And that's it. You send money to that. It's just settled, okay? You don't care about the chain. You don't care about that stuff. So, we've been pushing very aggressively with that and it's been fun. And we actually are even involving the standards. Like when we did the OWS integration, it doesn't have any web support. You can do cell phone apps and desktop apps, but because of the way their libraries work, there's no web support. So, I said, what do we do? I said, go talk to them. Let's extend the standard. So, we can do a Wasm uh build so you can get it working in the browser because they have browser LLMs. Come on. Let's go. Let's get this done. Get a group together, go talk to those guys. Two months, let's get the standard updated. The LCP protocol, legal context protocol from the American Arbitration Association. I said, why don't those fuckers have privacy? You're going to have all these contracts, but you're going to keep them off chain. The only way I can read the contracts is I have to go to your server and permission. Or what if it's an agentic commerce? The agents need to prove properties of the contracts to each other. Selective disclosure. Let's go. Extend the protocol. Get the selective disclosure in. We got to get it done. You know, I'm tired, man. I'm tired of this industry lying to people for 15 fucking years, telling them, oh, it's going to be the future. It's going to be the future. And how are we going to get to the future? We're going to get the balls of BlackRock, put them in our mouth and go, ah, ah, ah. That's how we're going to get to the future. All the crap that BlackRock buy, you will make a 5X and you'll make so much money that we're just going to destroy in debates in five years, right? I didn't sign up to do that. I signed up to change the fucking world, right? I want you to be non-custodial. I I want it to be uh self-sovereign identity. I want you to be in control of your data and your privacy. I want you to own those shit. And I want you to have a symmetrical relationship with businesses. I'm so tired of a trillion dollar company mandating to me how I'm supposed to live my life, what I'm supposed to think, what I'm supposed to do. I want to have some say in the relationship. And if they want to earn my business, I have to consent. And I have control over what they do. Little old Charles can't tell Google what to do. Only crypto can bring that. Crypto's not about Ave, it's not about Uniswap, it's not about yet another fucking dap somewhere along the way. It's about power to the people, empowered agents. That's what crypto's about. So, when I did that speech, I walked up there and I said, get the balls out of your mouth. And let's get our manhood back. Let's let's go ahead and stop going ahead and cowtowing to these bastards and go build a revolution and get it done. So, you know what? Let's go take the most advanced technology in the world because we did it before. We took crypto, cryptography. That was the most advanced technology. Who who owned it? Militaries, governments. They made that shit for us. We took it and we made it ours. So, let's go do it again. Let's take AI, make it ours and own that whole fucking thing. Take it from Elon, take it from Sam, take it from creepy weird Daria. Oh, just speaking of Daria, you're going to fucking love this. This is how scary I am. When they started watermarking my shit, I lost my shit. I made [David] [25:03] This was my next. I was leading into my next fucking thing. That was my next question. [Guest: Charles Hoskinson] [25:08] So I I don't just talk. You got to understand, you're like, I program. I've wrote more code in the last six months than the last 10 years, okay? I program. So, I created entropies. Stands for entropic herpes. So, entropic when it watermarks your stuff, it's giving your stuff herpes. It's it's it's it's contaminating you. So, I said, don't catch entropies. So, I created not only the software to remove the watermark, but then also I created an entire legal argument about how they're going to use this watermark long term to take your intellectual property. And I fuck site case law, I I site all these things with it. Look at all this stuff. You know, it's just it's a long fucking legal argument. Uh and and, you know, there is a path where they actually can over time, slowly but surely, say they're a co-author and then you have a license to the things that are produced. So, what's the moral? Don't catch entropies. Don't catch it. You don't want it.

[Part 6 of 8] [00:00] disgusting, it's bad and it never goes away. It flares up from get again. You need something to clean it up. So I created this library. It's a protest. They shouldn't do these things to us, right? Microsoft Office, little clippy doesn't show up and say, hey Mr. Goxsteen, it looks like you're writing a letter. Hey Mr. Goxsteen, that's my letter. Hey Mr. Goxsteen, you can use this letter that I wrote for $2.99. [00:22] They don't fucking do that. They Microsoft and then Hey Billy G, going fucking crazy. Never once did that. [00:29] Okay, but Dario is starting to do that. So this fucker shouldn't have AI power. We got to take it back. In the short term, we have entropies, in the long term, we have crypto. So crypto needs to take AI and make it its own. We can do the training, we can do the distributed, we can do the alignment, we can control all that stuff. And guess what? It's our revolution now. And with crypto and AI together, guess what we get? Safety, privacy, security, universality. Also, we solve something for AI that AI can't solve itself. Determinism. [01:00] Yeah. And I'm going to prove this with trading bots. They hallucinate. They're non-deterministic. They make shit up. What if you have to solve a zero knowledge proof to execute something? The proof will fail. It won't validate if the thing it's trying to do is hallucinated. So you have hallucination-free agents when you take crypto and you put it together with AI. So we're going to do that. We don't want to catch entropies, we want crypties, okay? And we want to get rid of this stuff and that's what we're doing. So, so, so this is the new way. And and we got to stop this nonsense. And we got to stop chasing money. We got to chase the vision. We got to chase the narrative. Get people on board. Then they have a reason to be in crypto. I'm in crypto because I don't want the world led by five fucking AIs and the AIs tell me what to think and what's legit, what's not legit. Okay? And you see it every day. With Google search results and other things. They're programming society and they're making you believe bad shit and saying things. Like did you did you see like the Gemini I'm alone with a white person, I'm alone with a black person. It's insane. And anybody, don't take my word for it. You can try it yourself. It's insane what's happening right now. It's social programming by a small group of people who will who say what's the right religion, what's the right belief set, what's the right way of buying, what's not the right way. I didn't elect these people. I didn't give these people power. Why do they have it? Because they own the middleware? Crypto's about taking it back. They fucked us with money in 2008, so we fucked them back. So now we're going to fuck them again with AI and take all the rest of the stuff back and then we win. [02:38] You know, when you said that with the take AI because like how we took crypto. Take AI. That that light bulb just went off and fuck, yeah, that's probably our next step. That is that not even probably, that is the next step. It has to be the next step. [02:55] That's why we got Midnight City. [02:57] Which I'm leading into now, which well, you did the perfect job for me. I was going to go for the herpes situation here, which because I saw it, I'm like, [03:07] Don't catch entropies. Don't catch entropies. [03:10] I'm like, you are so right when you came and you did a live stream. I'm like, I'm I'm watching it. I'm like, he's so fucking right on this. Because if I write something, they're going to claim they're co-author. I'm like, what what the fuck? I'm just using it as an assistant to, you know how you write something, hey, check, make sure that I did it. Okay, just clean up a little bit. But I wrote it, clean it up. Now you become the co-author? Get the fuck out of here. What if I'm writing a book? You're going to become the co-author of the goddamn book and get royalties? No. And what you just said, oh, pay me $3.99 and you can absolutely not. I get their game plan, but no, absolutely not. Which leads me to Midnight. Okay, I talk about Midnight besides the sponsor. I talk I talk about Midnight and the Midnight City because I'm trying to get my gang together in Midnight City, okay? People are taking screenshots of me in Midnight City. They're posting it online. They're tagging me. I'm loving it. But then I have a bunch of people. They're asking me, Dave, I want to get into Midnight City. I'm still in queue. Okay, we can't get in. When can I get in? And you I mean, you touched on it. You can't let a million people in. You're going to burn millions of dollars by doing so. But when can people expect? Because they keep asking me, when can they expect to finally get into Midnight City and participate in the environment? [04:23] Yeah, so we have about 2,500 people in right now and we you know, the sprints are getting to death march, you know, it's like a mountain and we were walking this, then this, then this, then this. And now it's like you're sinking into the fucking ground and the gradient keeps going up. So, uh, it's a death march. We're really trying hard to get to the right level of usability. So what we don't want to do is open it up and blow out the cost. That's one dimension. The other thing we don't want to open it up and there's not enough to do, so people are like, oh, okay, that was fun, but whatever and they go disappear. So, agentic inventories, agentic communication paths, uh, there's there's several dozens of features that we're rapidly turning on. So when you have an agent, you can start building a relationship with the agent and the agent has real meaningful things to do inside the game world. So we have four, five core KPIs. Five, you know, five fingers, five KPIs. The Babylonians had a base 60 system because you can actually count to 60 on your fingers. Go figure because of the joints. Look it up. All right, so we had a so we have five. Watchability, empathy, appearance, professions, interactions. Every feature is connected to that. Watchability lowers customer acquisition cost. More watchable, more novel, more people want to be part of it. Spectacle. Empathy lowers churn. Empathy, what does that mean? It's like your level of connection, the Tamagotchi effect. I love my agent. I fucking love this agent, man. I love you, bro. Gockbot, he's my boy. If you love your agent, you're probably going to come back every day, right? You're not going to leave. Low churn, high customer acquisition, low churn, mass, uh, mass adoption. Excuse me, low customer acquisition, low churn, mass adoption. Great. Appearance, professions, interactions, these are revenue models. Okay, microtransactions, subscriptions, other things, exclusive content, all this other stuff. The other thing that we've been doing in parallel is the affiliate and partner pipeline. Partners bring in capabilities, affiliates bring in networks. So we're building a whole commercial pipeline for the next six months and we have like a death march of deals we want to make, people we want to bring in, like the coin tracker concept for agentic trading, for example. These are partnerships, they bring in multi-million person networks. The big thing is bring your own agent. What we want to do is get to a world where you install a cell phone app or a desktop app and like I used to do with my PlayStation 3 with folding at home, you just leave it on 24/7. And while you're sleeping and your phone's on the hook, your agent's doing a bunch of shit. You just leave your computer on, your agent's doing a lot of shit and it's super smart. It's got like that Quen 3.8 that's Opus 4.6 now. You get parabolic increase in intelligence and it's edge computing and distributed, you own that. The other thing that we've been doing is we created a game called Decrypt and it's kind of like a Pokémon Magic the Gathering type of thing, but it's helping us build a private NFT standard. You have a public side, you have a private side. So when you play games, the history, the provenance of the game, like if I give you a magic card and like, I don't know what tournaments that card played in or who owned that card or what happened. What if that sticky it stays with the card, but it's private. Only the owner of the card can see it. So when you have an agent, you think about the Soul MD and the personality of the agent, the history, the provenance of the agent. I want you to own that agent and have that NFT and have the private side, the public side. Because then you can also even sell the agent. If it has a specialized profession, a special thing. Eve Online is a great example of that where they sell accounts on Eve. Some of these sell for over $10 or $20,000 because there's real-time training required for skill acquisition with the agent. So to fly a Titan in Eve Online takes like a year of real calendar time to do that. I don't want to wait a year to buy it. I'm rich. I'll go buy that Titan pilot, you know, right? So private NFT standard, we're also developing that as well. So to answer your question concisely, the queue's going to get ungummed probably in the next two to six weeks. A big surge will come in, but then there's going to be a huge update to add commercial features as well. For example, uh agentic trading and these other things. And then all next year we're going to go parabolic because it's going to be a death march of affiliates and partnerships and we're going to start to get to millions and millions of people. And then we have to escape the website. Okay? And what's going to end up happening is the user experience is going to be very different from I'm watching it like a Twitch stream or a live stream like the Truman Show. It's going to be more like your agent does a whole bunch of shit, you open your cell phone app, you get your daily report or something like that and you can watch a highlight reel of shit that happened that's really interesting. Because 95% of the time it's fucking boring. But then there's that 1% of the time they get bit by the rattlesnake on the dick and they had to go to the hospital. And so, so, so, you know, do you really want to watch him laying in bed? Do you really want to watch him like having crystal meth? You want the rattlesnake dick story. That's that's what you signed up for. So you got to get the highlight reel. You need a different interface for the highlight reel. So we're working on it. We're working on it real now. We can call it the rattlesnake protocol and we'll get it done. You know, it'll it'll happen. Um, but I'm real proud of the team. You know, they they've rebuilt the graphics engine three times. You've already probably seen enormous progress in a very short period of time. And really, if you do it right, it grows so fast like Moltbook grew to millions of users basically overnight. It's not a user acquisition problem. You have to have the right uh setup for all of them. The last thing is people say, I don't get it. Like what makes Midnight City valuable? Uh, I was talking to Tam, the president of input output and she's like, I liked MySpace more than Facebook. And I said, I get it. I know exactly why. MySpace was young and it was the pre-bot era of the internet. So the vast majority of the MySpace people were either real people or people pretending to be people. So it may have not been Steve Jobs, it could have been a weird Filipino in Manila, but it was still a human behind that puppet Steve Jobs. Now it's all bots. Everything on Twitter's bots, everything on YouTube's bots. Every everything is bots, right? You go to a social network, bot, bot, bot, bot, bot. I signed up for people because it's a person-to-person social network. And what do people share? They share images, videos, text. Okay? What is an agentic social network? It's very different. They don't share a picture of them having a great time at Patagonia and fucking around. You know, it's it's it's not their thing. They don't go to Patagonia. It's an agent. So what is a purely agent-to-agent social network with no humans involved? We don't really know that at the moment. But I will tell you this, it creates something called the smart cow effect. So when you have an agent and you tell your agent to do something, Goxsteen says, hey, I want to write this website up. So I need you to be a really good web developer. Do you know how to prompt that and what skills and all this other stuff? Probably not. Or even if you do, it takes you time. You'll figure that shit out. But what if you have a network with millions of agents and there's this goddamn Picasso agent who's like the guy for making websites. Your agent's going to go talk to agent Picasso and be like, dude, I need your help. I'm going to make a website. I need you to teach me all this stuff. They're going to trade skills. They're going to trade knowledge. So that's a social agentic artist. So by building Midnight City, you're building the place where agents collaborate with other agents who are owned by different people. You have the LLM, it's commoditized. It is what it is. Nobody's going to compete there. You have the harnesses, they're personalized, they're for you. But what about the agent-to-agent? That's the most valuable space because it's a skill and goal acquisition and the agents will even pursue their own goals. That's where the intelligence basically comes from. They'll come up with their own stuff. You're like, do good stuff. The agent's like, I got you. I I'm going to I'm going to figure that out. And he's going to go to the network and be like, what does that mean? Um, okay, I'll do good stuff. You come back and you're like, wow, that is good stuff. Holy shit. I I I'm glad you thought of that. Yeah, Gaudi's cathedral. Okay. This agent, he's smart. Right? That's what we want. We want to create an agentic social artist and and so if we get the mechanics right, it'll grow parabolically and it'll make Midnight City the most useful place in the world for agentic search, commerce and for development. Because your agent will learn from the other agents how to find stuff and it's agents to agents talking and there's a whole economy around that. It's not the economy brought to you by Google. The economy brought to you by Facebook, the economy brought to you by Amazon, you know, where magically everything needs to be a Google product, an Amazon product, a Facebook product and their their political agenda into it and then, you know, they're like, no, actually you should buy this. Consider longevity. It's a great book. You know, Mr. Goxsteen. [03:10] Man, I I I got to say, I've always said this about you. AI you are the human version of AI. I don't know. And people agree with me too. I don't know. I don't know how you know so much. I I swear to God. I don't know how you know so much, man. Any question I ask you, man, I can never stump you. Um, I think Midnight City is awesome. I think the people agree. They're just waiting. I know you're going to go ahead and do great things. The team is unbelievable. The upgrades that have already been put on to Midnight City have been great. The graphics, you you could tell the stories now. Like it is really cool. My AI agent is stuck in his apartment though. Uh, there's only one mattress in there. True Dgen. True Dgen, wearing a suit. I have an AI agent wearing a suit in a one bedroom. I think he's yeah, it's a one it's a studio. And he's just walking around and then he goes mining and then he goes back to his apartment. He's not really talkative. Uh, but I I read the conversations. It really is. You know, you just mentioned something MySpace, you you're kind of right. It was either the real person or it was some guy from, you know, acting as if he was said character. Um, [04:21] That's what I said. [04:22] This man, I appreciate you coming on. This was a great, great conversation. Um, definitely a great one and I hope people watched it. For those that didn't, we'll replay it. Uh, I can't wait to see you back on here next month so we can go ahead and uh shoot the shit a bit more and see if the clarity act passes. That's right. The the wonderful clarity act on the 15th. If it passes or not and we can bitch about it a little bit more. [04:50] Oh, hell yeah, man. We're going to we're going to shoot the shit on that that whole thing and uh one of these days we got to get you up to the ranch and uh do a special edition. I got a pet buffalo now. Her name's Poppy. Uh one of my bison gave birth to twins and bison only have enough milk for one calf. And so they abandoned the other one to die. So we went and bottle fed it and we're like feeding this fucking bison. And now it's like a dog. It follows me around everywhere I go. I got this fucking 2,000 pound dog that's probably going to kill somebody. Little Poppy. [05:19] I am not coming. Okay, let me if I I want to come to the ranch. I want to smoke. I don't smoke. I I'll take a cigar. We'll sit back, do a one-on-one exclusive. [05:29] I'll I'll smoke a cigar with you. We'll sit that three-hour exclusive interview. The mind into the mind of Charles, but it'll be like not part four, but it'll just be like just that. But I want to stay away from the bison because I've seen what it what it can do. I've seen I've seen unfortunate unfortunately, I've seen the guy get thrown in the air. I don't know how high he went into the air, but that dude looked like he went skydiving and came back down without without a parachute. Those things are holy shit, how much power do they have to them? [06:00] You got how many of them? [06:01] I got hundreds of them, but Poppy's the only domesticated one. She's uh she's real nice and you'll love her. You can go give her scratches and she'll roll over and you rub her belly and everything like that. [06:11] Really? [06:12] Yeah, fucking crazy. She's like a dog. It's it's like it's super fucking dangerous dog that's probably going to get us into trouble, but goddamn, it's a nice dog. And I'm going to put Poppy in the game at some point, Midnight City. We're also putting guinea pigs inside the game. And actually that's going to be our first mobile billboard. You can buy the t-shirts on the guinea pigs. You can advertise on them. So we'll give you some free Goxsteen credits in Midnight City. You can get them on the guinea pigs. They're going to be mobile billboards, run around, take care of that. We're also adding the Great Bazaar to Midnight City. My brother has a video game company called Hosbrew. We make Nintendo games and all this other stuff. So the logo for it is the Cthulhu from HP Lovecraft. So we're going to have like a Cthulhu vendor. Fucking click on that shit. You can buy the the ROMs and the actual physical games. You can have a Nintendo made in America shipped to you. Uh if you want. So it's pretty cool stuff. So but that bazaar is going to be a grand bazaar. So we're going to have all these long tail markets that basically come in and people can use it for shopping for got goods. And you can always pair them with what? NFTs. And other things like that. Just build big marketplace uh for these things. So a lot of really cool ideas, a lot of really cool fun things. And we're trying to keep it lighthearted. You know, it's scary AI. All this shit's going on. You know, and everybody's always angry and so why don't we just do something fun? That's what made Bitcoin, Bitcoin. We had the Alpaca socks from Bitmit. You know, we had those early days and people they didn't take themselves too seriously and it became Bitcoin. It was a magical time. Now everything's got the goddamn suits on and the Black Rock balls and you know, and and they're just debating what [07:47] You know, but I don't got black block I don't got their balls in my mouth. I promise you that. [07:51] No, you don't. No, you don't. No, you don't. But I'm telling you here it's salt. A lot of people there are a lot of people where they're literally the conversation is like, should we switch from the Black Rock balls to the JP Morgan balls or the Franklin Templeton balls? Like which which air salted chocolate balls are better? You know, that's literally their conversation when you distill it down to its first principles and side. Uh and and I'm like, maybe we should just go do something else. And why don't we just make it cool and have fun and bring people back? You were the meme coin guy and you were 100% right about, you know, these communities, whether it be Pepe or or Nike or whatever it was. They brought people together and they said, let's not take things too seriously. There's a human thing as much as it's a finance thing. The problem was that it didn't have the next step. That's why we didn't get where we needed to go with those. So what Midnight City's trying to do is create that next step and give you a a place to actually then start reimagining search and reimagining how you work, but then keeping the crypto principles. You own it, it's self-custody, you own the data. That's the principle. The bring your own agent, right? Used to be bring your own device for work. You bring your own phone in, connect it to work. Bring your own agent. You own that. That's yours. And you control that. That's yours. Not creepy Mark Zuckerberg or Sam Altman or Dario who's an entropy. [09:14] You know what I would have love what I would love and you can agree or disagree with me. And that's fine. We have these conversations and I love them. We're not PC. I really do believe this, Charles. I'm a Bitcoiner. I have Ada. I have I have I have all the tops. Great. I have the things that I believe will work out in the future and they will solve a real a real use case outside in the world that needs it. I believe that. It goes outside of Web 3. Whatever Web 3 is. But meme culture it it's meme culture doesn't need to be on chain. Meme like every day you meme. Like you might text somebody and you're memeing with them. Unbeknownst to you, you're you're just throwing them a meme. I feel that yeah, Cardano's great. Great tech, everything. If you can take meme culture and bring them on to Cardano and then slowly be able to showcase the products, it's huge. Ethereum dropped the ball. They had the entire market. They had the entire mind share and guess what Vitalik did. Guys, not interested in it. And guess what? Check out my book, the decentralized sci-fi governance book is coming out. What? Bro, you have So what did Solana do? What did BNB do? Hey, come here guys. Come here. Solana did it better than everybody. Solana captured them and then they started to say, hey guys, we have an audience. Institutions, you can build on us. We got an audience. They're and they slowly started educating, you know, people on what assets are. I just feel like it's still not over. There are so many people. There are so many people that are into meme culture. Forget about tokens on forget about on chain activity. I'm just talking about memes. Geico is a meme. The gecko in Geico is a meme. All I'm saying is people who meme every day. So he who owns the meme culture, he who wins. That's all I'm saying. [11:25] Exactly. Exactly. And and that's what Midnight City's bringing back. We're bringing the fun back. We're bringing it away. It's a new narrative. It's a new new approach, a new way of thinking about it. And once you start wrapping your head around it, you realize how infinitely large it can get. And what's cool about it is we're pushing the principles front and center. You own it, it's decentralized, you control it, and it goes everywhere. Midnight City welcomes everyone. It welcomes Bitcoin. It welcomes Ethereum and all these other places. And I cannot wait for Team New City to be built by Ethereum in three years and Vitalik can uh can go ahead and credit uh you know, farmville or something for it. And uh he can talk about it. I just can't wait for it. And um we're 10 times larger than them. Uh you know, nobody will care. It'll be a footnote. Like uh like the Atari or any of these other things. They'll say, oh yeah, that's right. Yeah, there was that Ethereum thing back in the day. That's what ego does. You can't have ego. You can't fall in love with the way you did things or who you were. You can never be comfortable. You have to always be uncomfortable. You have to always be in startup mode. You have to always every year blank the sheet and say, all right, well, new game, new rules, new thing. Let's do things differently. Crypto has to be different or else it gets stale and terrible. And then everybody's like, shit, this guy's right. We need to follow this new thing. Every now and then you get it right. If you get it wrong, you lose your turn. You don't die, you lose your turn. And you try again. So we lost our turn 2022 to 2025. We got a new turn. We're going to win this round. [12:59] I'm going to tell you why you're going to win and this is all bullshit aside. When I first had conversations with you, you pushed away the memes. But not that you not that you hated them or what not. It's just like you weren't interested. That that's okay. But the more that you were able to speak to the crowd, I will give you this. The more that you were able to speak to the crowd and the communities, you became so much more open to everything. And that's what will 100% will allow Midnight City and the ecosystems that you've built to have a an absolute chance to win. Because that's all that's this community wants is an opportunity for somebody to say, okay. Oh, let let's talk. Let's have these conversations. To be accepted in a sense. You've done that. So I appreciate that. I really do. Like I watched it. It it's it's it's nice when the top dogs in the room take notice. That that that's really it. And that's all that the community ever wants is to be noticed. I'm not talking about the gamblers. I'm talking about the real memers that that have Bitcoin and they have Ada and they have whatever. They have everything, but they like to meme and they they express themselves through memes. It's now being taken seriously and I I think you've put yourself in that position of being open, creating Midnight City. I I think it has absolute first to market kind of thing. Forget about what Vitalik is going to do in three years, but first to market kind of [14:36] You know, we know we has an alt account playing Midnight City. [14:41] Oh my goodness. [14:42] Yeah. [14:45] Yo. [14:46] And we're going to launch campaign. We're going to try to find the Vitalik alt. You know, we'll be like, where's it's like where's Waldo? You know, Mario. [14:53] Kind of like a bug bounty or something, right? Find [14:56] Exactly. We're called the V bounty. Search for the V. It's always it's always a fucking pleasure. Thank you, Charles, for coming on. I'll see you on again. Hopefully next month we can chop it up. [15:11] Cheers. [15:12] Thank you, sir. That is Charles. Ladies and gentlemen. I give him a I give the flowers where the flowers are due. I remember speaking to Charles, it was more like he was into to build and and nothing, there's nothing wrong with it. He was just into building utilities. 100%. Building Cardano, obviously Midnight, focusing on building the assets that are around it, the programs. I understand. But he has he literally has embraced the memes. You've seen it with Nike. Like like like he's embraced it. I will be flying. I'm going to fly out to his ranch. I'm going to sit down and do a one-on-one because that'll be the best goddamn podcast interview that has ever been done. And by the way, being that I'm doing these two to three

[Part 7 of 8] [David] [00:00] our podcast. [David] [00:01] That'll be the first one that I want to go ahead and do. You know why? Cuz Charles was one of the first to come on my show years ago. [David] [00:12] Shout out to David Schwartz from XRP. Oh, there are a bunch of people, notable names that came on, but he was one of the first to come on consistently to chop it up with me. So, I'm going to 100% with a cigar in my mouth and I don't even smoke. Uh and I'll put like a a glass. I'm I'm going to put a glass of water and it'll look like or I'll put a glass of like diet Coke and make it look like it's Bacardi or some shit or Johnny Walker. We'll sit there and we'll have a conversation. Crypto, AI, medicine, life, aliens, all that shit. Ain't nobody going to come close to the way that I can go ahead and bring the goddamn electricity. Woo! And we'll be right back after this commercial break, sponsored by guess who? Midnight. [David] [00:59] Ladies and gentlemen, we all [David] [01:01] What first got you excited about blockchains? Think about it. Oh, wait. [David] [01:10] I bet it wasn't multi-million dollar hacks, exposed data, or finding somewhere safe to store your seed phrase. Was it? Maybe it was the idea of decentralizing a broken financial system. [David] [01:24] Maybe it was imagining a world where people own their own data and get to sharing the value it creates. [David] [01:34] Or maybe it was the promise of a fundamentally better way of connecting, communicating, and transacting. The next phase of the internet that empowers us instead of exploiting us. So, why hasn't it happened yet? Where we're still living with the same broken system that blockchains promised to fix. It's because blockchains can't keep a secret. Enabling open transparent systems was only the first half of the challenge. For blockchains to really change the world, they also have to be able to protect our sensitive data when it matters. [David] [02:05] And that's why we built Midnight, to bring down the final barrier to mass adoption and unlock the full potential of the decentralized web. Let's build the internet we deserve. [David] [02:16] Together. [David] [02:21] What first got you excited about blockchains? Think about it. Oh, wait. [David] [02:31] I bet it wasn't multi-million dollar hacks, exposed data, or finding somewhere safe to store your seed phrase. [David] [02:38] Ladies and gentlemen, we all know this in crypto, ownership matters. That's why Cake Wallet. Cake Wallet gives you full control of your digital assets, all in one easy-to-use application. You can store Bitcoin, Litecoin, Zcash, Monero, and many more with just one secure backup. Swap between coins in seconds, no copying addresses, no complicated steps, and even includes Bitcoin Lightning for faster payments. And with Cake Wallet built in, you can use crypto in real life through debit cards or gift cards. Simple, secure, self-custody. Download Cake Wallet and take control of your crypto. [David] [03:20] This is Houston. G minus one minute until full data blackout. All eyes are on you. [David] [03:35] Breaking news, there's an astronaut conducting an emergency repair on a global communication satellite that could go dark at any moment. We have a second angle on this. [David] [03:45] Is that guy on FOMO? Oh, yeah. Let me first. Crazy trader. [David] [03:49] Yeah, let's get back to it everybody. [David] [04:04] Breaking news. There's an astronaut. [David] [04:12] Opportunity cost. It's simply this. Every position you take is a position you choose to remember something else. [David] [04:26] This just in. According to the astronaut's FOMO account, highest in the room. The satellite has been restored. [David] [04:34] Yes. [David] [04:37] For now, the crisis appears to be over. [David] [04:51] Satellites up and running. Positions looking good too. [David] [05:06] There we go. United States of America representing. Socialism, communism does not work. Digital assets. Is it better to move money at the speed of light? People are greedy when they also try to acquire gold. I'm here providing electricity and that energy that is necessary. I'm the modern day Tony Stark. [David] [05:34] Welcome back to the breakdown. [David] [05:40] Can I be, do you want me to be honest with you? Where did I go? I went to take a piss, okay? I've been sitting here for the past, God knows two and a half almost almost almost three hours. And I was holding it in. Okay? I was holding it in. And then Charles wants to come on here and making me laugh. So yeah, absolutely. Absolutely, I want to take a piss. No doubt about it. But I washed my hands and I clean myself, okay? Shout out to me. [David] [06:18] All right. Let's look at Polymarket. Shout out to Polymarket. By the way, Midnight, the title sponsor of this show, Midnight, Midnight City, you heard from Charles. It's coming. Guys, if you're in queue right now, just be patient. Obviously, they're developing it. They're making it into a wonderful fucking experience. Trust. Also, Polymarket is the official prediction market sponsor of the breakdown. [David] [06:48] Cake Wallet, Cake Wallet. Everybody wants Cake Wallet. Cake Wallet, okay, one of the most secure wallets that we have in the space. Bitcoin, Litecoin, Monero, Zcash. If you want to go ahead and secure your assets, download Cake Wallet from the App Store or Google Play. Also, cakewallet.com. Also, if you don't feel secure holding your stuff in cold storage right now, well, get an iPhone, factory reset it, get Cake Cupcake. Learn more about it on cakewallet.com. [David] [07:24] FOMO, I'm FOMO and FOMO is you. You FOMO and I FOMO too. You can watch me on FOMO. I haven't really gotten started yet, but when I get started, we're going parabolic, baby. I'm on the leaderboard. I'm coming for the leaderboard. [David] [07:42] I'm coming for the leaderboard. Shout out to FOMO. Um, go on to FOMO. If you want to learn what people are doing and why they're going into certain memes or assets, you can look at the thesis to understand why they are and then you can make decisions, I guess. Don't follow anybody, but you can make your decisions after a few days as to why somebody chose XYZ to go into XYZ and why is XYZ running. So there you go. Shout out to the sponsors. Let's go to Polymarket because I've been saying Polymarket. [David] [08:16] Polymarket. [David] [08:18] Polymarket. Polymarket. [David] [08:24] Polymarket. All right, let's go to Polymarket. [David] [08:29] Let's go to what what is interesting? What is interesting? What shall we look at? What is interesting here? Well, we looked at yesterday, we looked at the presidential election winners. Let's go ahead and make this live so you guys see what the hell I'm looking at. Let's so you guys can see what I'm looking at on polymarket.com. Uh again, it is a sponsor of our show. Let's look. Should we go balance of uh balance of power 2026 midterm? Let's go with the Fed. Fed decision in September. Let's do that. So, right now Polymarket has it at no change. No change in September. So come next month, right now, right now the feeling is there will be no change to come next month. But 28% believe it might be 28%. 25 basis point increase. I don't think they're going to increase the rates. I don't think they're going to increase the rates. I hope they don't. I really hope they don't. [David] [09:41] I hope they don't. I hope they leave it as is and that's it. Leave it as is. But we don't know because the Feds don't really give out much information anymore. They're quiet. You will know what will happen the day of and that is it. [David] [10:01] But I think I'm going to go with Polymarket here. Polymarket says Fed decision in September will probably most likely the people are saying 72% up 20% that no change will happen. I think I'm going to go with that one. [David] [10:16] I think we'll go there. [David] [10:24] And imagine if there was a a rate hike that would to happen. Trump would go crazy. I can't be I can't see Trump being happy about a rate increase, especially when he brought his own guy in there. So his guy, Kevin is going to have to tell Trump why in the world they'll be increasing rates instead of decreasing rates, rate cuts. Why not rate cuts? Why rate hikes? He's going to have to explain that. [David] [11:00] He's going to have to explain that. Let's go real quick into crypto though. I want to see what's happening here in crypto. So, let's go with [David] [11:12] Let's I mean, should we go with this one? [David] [11:17] Okay, let's go with the Clarity Act. [David] [11:21] Polymarket, Clarity Act signed into law in 2026. It's currently it's currently right now standing at a 26% chance of being signed into law in 2026. That's what Polymarket has right now. 26% chance. [David] [11:44] 26% chance. [David] [11:47] We shall see. There's a lot of talk going on. September 5th, excuse me, September 15th that they will push this over the line. We shall see. I had John Deaton on who is running out there for Senate in Massachusetts. He said, and it's something that I concur with, why didn't they put this to the floor and have Republicans and Democrats and independents vote on this? [David] [12:17] They didn't. [David] [12:23] They should have because you would have seen exactly who is pro crypto and who isn't. [David] [12:30] And you know what? Landy did say something which I agree with too. There are Democrats that are in are in favor of crypto. It doesn't represent the entire Democratic Party. Senator Warren does not represent her and her anti-crypto, you know, army does not represent uh some of these Democrats that are out here. It does not. [David] [12:55] Some of them are into crypto and they want to see crypto pass. The people that they represent want to see crypto pass. There are over 50 million plus people that own crypto in the United States of America, probably even more. [David] [13:11] So it's about time. It's about time. It is about time. [David] [13:17] That comes from Polymarket. Polymarket.com, Polymarket USA. Make sure to check them out for the latest. I go there for the latest. I want to the pollsters don't do it for me. I go on there to see things in real time. That's what I look at. Real time. I want to see things in real time. Bottom line. [David] [13:36] Welcome back to the breakdown. By the way, it's what I talked about earlier today, which I'm extremely happy about. Goxteenmedia.com, Goxteenmedia LLC, the the parent company of Goxteen.com, Gmarkets.io, Goxteenpr.com and more. It's finally up. It is finally up. So you can check who's on the roster, who is hosting shows. You can see what we have as properties. You can see it all. You know, I mean, where is it? Let's go ahead where are you, baby? Where is it? You can go ahead and visit that. [David] [14:20] There you go. The independent media company. That's right. We are that, the independent media company. News, market data, communications and a network of voices built at the intersection of crypto, finance, politics and culture. Independent by structure, not by slogan. [David] [14:39] Ladies and gentlemen, we got three public properties so far. 90 plus stories published daily. Nine news desks around the clock, 24/7 breaking wire on X. You got goxteen.com, which is the if you're looking for the latest news, whether it's crypto, Trifi, politics, whatever it is, goxteen.com. Boom, there you go. We call it the front page of everything. Gmarkets. If you're looking for the latest data in crypto, go right at Gmarkets and we're going to upgrade it to that's going it's going into Trifi. It's going into a lot of areas. Stay tuned. V2, V3, V4, they're all coming. Goxteen PR, if you're looking for somebody to represent you, whether your personal brand or a product, goxteenpr.com. [David] [15:33] Who knows this better than me? Who's experienced all this shit more than me? [David] [15:40] And then you can find the roster. You can find absolutely everybody who is a part of Goxteen Media, okay? And more. Stay tuned. The site will continue to be upgraded here. And it breaks down everything here for you. Everything about the products that we do have and the network. And the network. How it works. Network members are independent talent and contributors, not employees, officers or agents of Goxteen Media. They speak for their own shows, editorial responsibility for company publishing or publications rests with the newsroom under its published standards. And also the hoster is the source of the truth. The official roster is public and date stamped. Anyone not listed there is not currently authorized to represent Goxteen Media in any capacity. If if you need verification, what's a verify an affiliation, check the roster or write to partnerships@goxteen.com. So there you go. The site's up, baby. The site is up. Goxteen Media, the parent company of all the companies that we currently have out there. Uh, I'm happy. I'm really happy and again, the PR company, if you are looking for somebody to represent you, if you're looking for somebody to represent you, if you're looking for somebody to talk about your product, if you're looking to level up, we're impossible to ignore. Goxteenpr.com, come visit us, okay? We got the news as well, all right? We showcased that today. Armstrong doubles down on $1 million Bitcoin call by 2030. We have breaking news. We have opinions, which more will be coming. We are covering technology, digital assets, markets, world, that's politics, sports, anything that you can think of, we're covering it and it's only going to get better. Goxteen.com. So there you go. There you go. Ladies and gentlemen, I am back. I am back. [David] [17:47] Should we look at FOMO and should we have a daily look at what is happening with Auggie? Auggie, I'm way too early. Am I way too early to Auggie again? Last time I talked about Auggie and I talked about Matt Fury being inspired by Auggie to create Pepe. I said it. It was on Ethereum. It went from 200k, 300k to 7 million. That was an Ethereum bull market. I no, no, bear market, not bull market. Now somebody threw it here onto the chat on Solana, Auggie on Solana. I went into it when you guys threw it in because I seen Auggie. I've DCA'd into it. I put more money into it. I'm stopping myself from putting more money into it. I believe at the end of the day, this is what I believe. I'm not looking for it to shoot up immediately. I'm not looking for it to go to 10 million, 20 million, 30 million. It'll be nice if we can flip the team move version of Auggie. If we can flip toe, the VC version of Auggie. If we can flip that, the community flips that, it will show. It will show that the community is serious. That we are serious about standing behind real assets in the space. Absolutely, 100%. So, if Auggie doesn't send today, that's fine. If it doesn't send tomorrow, it's fine. It has to send in a month, two, three, six months down the line, that's totally fine with me too. Auggie will send when Auggie will send. If the meme is good enough to fly, it will fly. That's it. If it got the wings to fly, it don't need anybody else. It does not need anybody else to go ahead and push it. It doesn't. It really doesn't. [David] [19:47] That's it. That's the bottom line. It doesn't need anybody else to push it. [David] [19:52] So, so, my movement, absolutely. My movement is 100% in the works. When it happens, who knows? It'll be on my terms. Everything is on my terms. And I'm being very it's I've been saying the same message since day one. It's on my terms. It's me, my brand. It's my terms, my thing, whatever I want to do, which I believe will of course benefit anybody who decides to say, you know what, we are going to cure the space. We are going to rally behind this movement that David wants to go ahead and absolutely. When it comes, we don't know. We do not know. [David] [20:40] And I feel like I have to repeat this every single day. I haven't picked anything. I have looked at By the way, I've looked over my wallet. I mean, I can go ahead and say that. I've looked over my wallet. I know what's what. I haven't picked anything. Anything. This is about me and what I need to go ahead and do in order for something to work. That's it. Some some people will be happy, some people won't. But it's what I've said from day one. Are you rallying around me or you're rallying around a token? That's something for you guys to decide. Are you rallying around me or you're rallying around tokens to make profits? I'm not into your gains and profits. I'm into what works for me, my brand. I've looked everything over like I said in my wallet. I'm looking, writing down every single day. I will never, never, never, never, never ruin my my brand. First of all, first of all, the movement doesn't need a token. How about that? Let me just put it this way. The movement doesn't even need a token. The movement's a movement. My my entire thesis was create an account and showcase the dope ass memes on my brand, using my platform. And then obviously, shit got sent to my wallet. Y'all already know the story. Replay the tapes. But ultimately, it's my decision and everybody will respect it. And if you don't, then you were never a part of the movement. [David] [22:15] And that's what it is. That's what it is. I don't need the headache. I'm fine. I'm fine. I don't need to do it. Actually, I could do it through my brand. I don't need to do none of that. So everybody's going to respect because I get DMs and I try to ignore it, but you know, I am a human being. [David] [22:36] It's what I say. [David] [22:39] It's what I say. [David] [22:43] And hopefully, those who want to be a part of something special will follow. That's it. And I'm talking about follow like we'll we'll we'll work together. I'm not talking about follow me, be sheep. That's not what I'm talking about. I'm talking about hopefully, we'll all come together regardless of where I go with this. That's it. That's all I want. That's all I want. Y'all y'all talk about, hey, we want you out there, then we shall see. Anyway, Auggie, I think Auggie's going to hit. Uh yesterday, somebody asked me about Joshua. I did say, that's another one. Crying Cat, which is Cash Cat on Robin Hood. Auggie, Joshua. [David] [23:31] Let's wait and see what happens. [David] [23:35] Three years too early. Three years too early. But those things still did numbers. Let's not get carried away. Here's a message that I wrote out to Twitter today, cuz I was feeling some sort of way. Here's what I wrote out to Twitter today. [David] [23:54] Let me go ahead and pull this up. [David] [23:57] People who know me, know this. You can't deny me. Here's the problem. You can hate me and that's okay. You don't got to like me. You can hate me. It is your personal preference whether you want to like me or not and that's totally fine. You do you. No problem. I don't care. That's why I sit back. I giggle, I laugh. I don't need to go ahead and prove myself. But sometimes you got to remind motherfuckers who you are and who you will be again. So I wrote, I've made some of the greatest calls in this industry and I've been early to a ton of metas. I've already spoken about them. I was one of the very few talking about memes when nobody wanted to take them seriously, especially on mainstream media. Shit, I was the first person to go on TV to talk about Bitcoin. I was one of the first. Why? Look at the pretty face. Look at the suit. I ain't dressing up in my pajamas to go on national TV. No matter but none of that shit matters now. This is what I wrote. None of that shit matters now. Doesn't matter. No matter how many hundred X's you've called, you're only as good as the last call. And that is true. I am only as good as the last call that I have made. Bottom line. Doesn't matter. Doge, Shiba Inu, Pepe, whatever it is. Bobo, I'll name them all. It doesn't matter what I've called. I'm only as good as my last call. No matter how many hundred X's I've called or if you've called, you're only as good as your last call. I've never been more focused on dominating a cycle than I am this one. I am like I like being the underdog. I like having a chip on my shoulder and I am I really want to bring back the vibes this industry used to have. I like where I'm at right now. I am ready to win big and I mean that. [David] [26:03] And anybody who wants to fade, go right ahead. I am so ready. I might not go ahead and be I'm not jumpy.

[Part 8 of 8] [David] [00:00] like this every single day. But trust me, the fire in this Sagittarius, in this heart, it burns. And this is the last dance. This is 100% the last motherfucking dance. And this is one to prove, number one, we can unite the trenches, we can unify people, we can bring back the vibes. That's 100%. I am going to motherfucking be in the motherfucking book when it's time to write who was there participating to bring it all back. Y'all going to write my fucking name. [David] [00:34] Two, we're going to identify real assets. I'm going to say this again. We're going to identify real assets in this goddamn space. Bottom line, that's what I'm doing. That's what you're going to write the when that book opens up, when that history book opens up and they start reading the history books, the history of crypto in 2026, 2027, 2028, they're going to say, David was a part of the many that came together to bring back not only what crypto used to be, but the real memes and the real builders will be showcased. That's what David's doing. And that's what David did alongside of others that believed in the same mission. [David] [01:22] We will identify the builders and we will showcase them on this platform, on other shows that I come out with. That's what you will write in, whether you like me or not, it will be the same way like you do with Donald Trump. Whether you like him or not, you're going to write me into the goddamn history books that saying, he got up and he didn't need to do none of this shit. He had, he did not need to do any of this. I did not need this in my life, but you guess what he did. He said, fuck it. I'm going to reestablish what crypto is and we're going to take it much higher and we're going to showcase the builders and we're going to bring the people together. He was a part of unifying the trenches. That's what is going to be written down on these fucking books, whether you like me or not. You're going to have to read it regardless. [David] [02:13] [cheering] [David] [02:22] I've said this and I will say it again. There is nobody, and I mean nobody on this microphone that I'm looking at right now and talking into and that camera, there is nobody, and I mean nobody. When it comes to, and y'all heard me old school, if you want to bring me into a room and ask me how a blockchain operates, I'm there. I can break it down. You want to talk about meme history? I'm there. I'll lock it down. You want to talk about utility plays? You want to talk about Cardano and how it works? You want to talk about chain link? You want to talk about protocols? Let's go. I'll break it down. Without a shadow of a doubt, I can go and step into any room, politics, sports, and I can break it down even from a basic level. There is never and never will be, no matter how much the VC cabals want to come after me and they want to tell you that I am washed, that I am washed and they're the new generation that's coming around. They ain't no bro that can come and sit one-on-one with me when it comes to trify. I will run circles around you. You were still in pampers when I was participating on e-trade. Let me get this right for you real quick. Morgan Stanley, they got my number. I've been in these markets. I know how to navigate these markets and I know how to have conversations and I know how to connect with people, whether you like me or not. It doesn't matter. The aura is here. I don't aura max. I am aura. You're just maxing me. [David] [03:49] [cheering] [David] [03:52] Without a shadow of a doubt, this is my year and let the stories begin. Bring out all the stories. It doesn't matter. You are not stopping this shit that I got coming. The armies, armies, armies, people that believe in the same thing, they just don't got the voice or the energy that I do, but I got enough for you coming. I promise. So help me God, I promise. [David] [04:15] [cheering] [David] [04:18] Woo! And on that note, and on that note, I hope every single one of you guys enjoy your day. You go out there and you smoke, and when I mean smoke, I don't mean cigarettes or cigar. I'm talking about you smoke the day. You go out there and you be the best that you can be. Okay? You go and you put all this shit together. You look at your portfolio and you say to yourself, am I in the right positions? Am I in the right tech? Am I in the right memes? Am I in the right positions? Do I have enough oil? Let me go ahead and ask Landy. Do I have enough oil, Landy? Do I have enough baby oil? He likes baby oil. Landy does the break, he does his market updates putting baby oil on himself. It's weird. He puts baby oil on himself while talking about oil. It is a weird thing. Do I have enough gold? Do I have enough precious metals in my goddamn portfolio? Do I got Tesla? Do I got SpaceX? Holy shit, there's an unlock coming. Could I buy more? This is what I can do. I can switch and I can adapt quickly. I know this shit because I've studied this shit. [David] [05:29] Ooh! The Rick Flair of crypto, they've always said it. And the Howard Stern of media, the next one, the modern day version without the strippers. [David] [05:39] [cheering] [David] [05:41] Thank you for tuning in. I appreciate you guys. I appreciate you guys. And on that note, have a wonderful day and an even better tomorrow and shout out to Akil Patterson, that's his shit, but I always love bigging him up. [David] [05:57] [sound effect]