AI, Bitcoin ETFs, and the Crypto Market's Stagnation

[Part 1 of 10] [00:00] I couldn't have done any of it without AI. If if we had not had AI, we would be $8 billion less. We had five IPOs, none of them would have happened because I used AI to design the securities and solve all the tax problems and all the securities law issues. You know, so I like I'm a big believer in using AI to design new things. And look, I'm just I I focus upon digital credit and security, but there's someone there thinking about how to make the car drive and cure cancer and like like aren't there like 100 million problems the human race has to solve that we that you're like, well, you're going to need a thousand people with PhDs to solve that. Well, guess what? Now every 16-year-old has a thousand PhDs at their fingertips. And so I I'm very bullish. The world's going to be a much better place and and we're going to see an age of empowerment and and abundance because of the digital technology. [01:01] People are greedy when they also try to acquire gold. Not really. I mean, people who buy gold are trying to preserve. centuries. We have centuries of people being greedy to go ahead and acquire gold. Well, no, well, you're talking about to acquire wealth. Yes, people are greedy in that they want they want more things and there's nothing wrong with that. But when they're converting what they've earned into gold, that's not the greed part. That's the preservation part. I I I I've earned all this money because I was greedy. Now I don't want to lose it. I want to store it so I can use it later. I don't want to blow it all right now. I want to hold on to it. And, you know, gold is a way to do that. You can't really do that in a fiat currency that's just being printed, you know, into oblivion. So, uh, but but but, you know, the the greed is in the speculative frenzy that accompanies Bitcoin. [01:54] They tell me that I'm the reason they own Bitcoin because they listen to me years ago about economics, about sound money and and and the Fed and inflation. And I'm the one that got them. Plus there's a lot of new technology in Midnight that's going to make the use of Cardano safer. Like Midnight passport will be the fastest, safest and easiest way to use Cardano. So, we gain all the usability and enhanced privacy. Plus I'd argue Midnight is an essential component for Bitcoin. The Bitcoin D5. When you look at that side of it, you're like, okay, Bitcoin users, they want privacy. So, Cardano could do a lot of the heavy lifting on the programming side, but where it's the private coordination layer is just for all that. So, we're actually working on this program, our Bitcoin D5 setup that we call it the the circle. So, you start with Bitcoin and Taproot. I'm going to put 50 Bitcoins of my own money into this free Bitcoin. So, you start with Taproot and Bitcoin. You lend it to a stable coin. So, that'll occur on Cardano through a specialized transaction through the token bridge. And then that stable coin would then be deployed into a yield bearing instrument. And then as you make the yield, the yield is converted to Bitcoin and then it's sent to your Taproot. And then Midnight coordinates all of it with privacy. So, you have like all three networks working together, and you have this circle and then from the Bitcoin user's perspective, you just give them a button, make money. Click the button. And then it locks their Bitcoin and you start generating a yield. The security actually enters the Taproot on the Bitcoin network. So, it meets my three rules that I have for Bitcoin D5. One, there's only the other two. Bitcoin, Litecoin is better money than than fiat, honestly, is better money than gold. I believe it's I believe it's the best form of money that um humans have ever come across. Right? Money being good being that it's um it's inflation proof, right? No one, no single person, company or or government can print more money, right? Can print money and inflate away the money you're holding. Uh, you're storing, right? That's kind of one of the key things about money is if you're holding money, you don't want that money to kind of disappear over time not from your own doing. Right? So, that's that's key and Bitcoin, Litecoin and uh most cryptocurrencies um is able to to do that. I could have the argument that real estate's better than Bitcoin. For a number of reasons, by the way, depending on who you are. Um, your audience would probably disagree because they're probably a bunch of, you know, Bitcoin maximalists. They don't have as much Bitcoin as the real estate guy, by the way. No, I I'll tell you right now, hold on one second. See, that's the funny thing, dude. That me and my brother were talking about this yesterday. You know, the guys that know the most seem to have the least. [04:43] 100%. That that I can probably agree with you on. [04:48] I think it should be a bigger issue within the crypto system and the ecosystem. What do you think? [04:52] I think it will be. I think privacy is going to be the the new if you want in my view, and this is what I'm tasking the professional professionals at Naelstrom to sort of figure out. I think that the standout shitcoin or, you know, few shitcoins of 2026 to 2028 will be related some way, shape or form to privacy. We already saw the, you know, amazing move of Zcash over the last few months. Yes, it's down 50% from the 780 high, but I think again, my goal is, you know, my mental model is 10 to 20% of the value of Bitcoin. That's for Zcash. Um and so, so much higher than where it is today. But, you know, taking away Zcash, what is the token project or protocol that's going to utilize some privacy technology, probably something like ZK, zero knowledge proofs, to do something whether that's quantum resistant, you know, the overlord can't deanonymize your data or, you know, see what you're doing, whatever it is, right? These are the things that we are latently afraid of of of what bad things that could happen with this proliferation of Big Tech, Big Government and [06:02] Donald Trump getting elected and knowing that we share friends in the White House for all the populist parties of Europe who are under attack. Every single populist leader, if you look at the leaders, and my last documentary was called Silence. I got 18 months in prison for my last documentary. The reason I aired it was because the documentary was so bigger than me. It's exactly what they're doing. Lawfare has been waged against if you go through, I'll pick anyone. Pick Gert Wilders, the leader of the Dutch party. Pick Marine Le Pen. Any politician in Europe, yeah? Anyone, anyone who has stood up and tried to speak against immigration, and you will see a history. Matteo Salvini, I was with him two days ago, the deputy Prime Minister of of Italy, was prosecuted in 2020. They said he kidnapped because he stopped the boat. He was prosecuted in 2021. He was then charged with other crimes. The process is the punishment. Every political leader who's tried to stand up was charged. You saw what they've done to Bannon. You saw what they've done to Alex Jones. You saw what they're trying to do to Trump. That's happening across the board. Every of their the totalitarian state. But I think it's probably because you're elected from on very optimistic matter of future. More it's not because we're not in to assimilate, but the public are ready. So the other thing about it is there's a lot of political power. You know, it's going to have a nuclear attack. What first got you excited about blockchains? [07:31] 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? 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. 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. [08:47] 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. [09:31] This is Houston. T minus one minute until full data blackout. All eyes are on you. 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. Is that guy on FOMO? Oh, yeah. He's just like me for a crazy trader. Yeah, let's get back to it, everybody. Breaking news. There's an astronaut conducting an emergency repair on a global communication satellite that could go dark at any moment. Opportunity cost is simply this. Every position you take is a position you choose over something else. This just in. According to the astronaut's FOMO account, highest in the room, the satellite has been restored. Yes. For now, the crisis appears to be over. Satellite's up and running. Positions looking good too. [11:18] There we go. United States of America representing. Socialism 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. [11:48] There we go. United States of America representing. Socialism 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. [12:14] Welcome, welcome, welcome to the breakdown. [12:20] Why am I laughing again? It is episode 808. 808. Why am I sounding like 808. There you go. It sounds better. 808. That's right. 808. What area code is that? Is that Kanye's album? 808s. There you go. 808s. Is that what I'm thinking about? Sponsor is Midnight. Total sponsor Midnight. Um also we have Polymarket. Polymarket is the official prediction market sponsor of the breakdown. Also Cake Wallet. If you want to hold your assets like Bitcoin, Litecoin, Zcash, Monero in a secure wallet, you go to Cake Wallet. Also cakewallet.com. Download cupcake onto a phone that you're currently not using. And make sure that your assets are safe. It's real simple. Also FOMO. fomo.family. That's right. fomo.family. Hopefully we will have one of the guys, one of the team members on this month, along with a We got so many people, man. We got so many people coming on. We're going to have so many interesting conversations. Today we have uh people coming on. We'll talk about Bitcoin. We'll talk about the markets. Shout out to everybody who tuned in from TikTok. Slowly, slowly the visibility is coming back on my TikTok channel. And all you haters on TikTok, you're in for one. Uh, before we get started, I I I I really I got to say, man. We got some really I hate I hate going this way with it. I really hate going this way with it. But we got some real notable names coming on. 100%. Like no like people you know, you've seen it. Hunter Biden, you've seen Sailor on here, Art the Hayes. I I can run it. Anthony Scaramucci. Like a ton of notable people have come on to the show. Should I say it? You know, Flandi was here, he would say, David, don't say nothing. And I am like sitting back and I and I want to not say a word. And I just want to keep it moving, right? Like Michael Phelps only swims forwards. Doesn't look back at. This has nothing to do even with competition. This has nothing to do with competition at all. Yo, why is it some of the corny ass some of the corny ass people on the planet acting like they Will Smith? Like, why? Why? I have a theory. I was thinking about this. I was thinking about this. Before we get into, you know, things that are trending, I was thinking. I would be intimidated too to sit down with me 101. Because I'm not going to give you softball questions. I'm not going to let you hog up the mic unless I feel like you are saying something of value to my audience. I will stop you dead in your tracks and ask you questions. And I think that scares people. And I'm not going to change that. I will not change that about myself and the way I conduct business here on the breakdown. I will not give people softball questions. Hey, when did you get into crypto? How did you do it? You're amazing. Can I blow smoke up your ass? No, I won't do it. I will not sacrifice my personality and who I am and how real I am just to go ahead and cater to you. So I think I said I sat back on one of these I got my EA sent me one of these things and and I was like, you know what? I'm not going to even get angry. I just know that some people are intimidated to sit here. And I have to respect that. And I have to give myself a round of applause. I'd be scared to sit here. Who knows what the hell I'm going to say? Who knows what the hell I'm going to say? You just don't know. Because I can sniff out pretenders quickly. I want to say it so badly, but I won't. I won't. I won't. I won't. Anyway, we have uh we have people coming on to the show. Also, you can go cop the book, Million Dollar AI Playbook. It's available on Amazon right now. We're also working on something cool. If I get alerted to it today, I will announce it today, okay? I will announce it. Working on some things behind the scenes, pretty, pretty cool. All right? Pretty fucking cool. That's what happens when you continue to work. It's funny, Sakasa was on here yesterday. If anybody was whoever tuned in and and watched it, if you replayed, God bless you. But he was on here and you know, I've consistently talked about the grind. Like this is a grind. Every single day you come on here. You know what, let me take that back. I love doing this. So it's really not a grind. But you get what I'm saying. You you come on here and if you're passionate about something, you're grinding away. You're grinding to new levels. You're trying to achieve greatness. And that's going to take a lot. You're going to get a lot of bumps in the road. All that good stuff. But somewhere down the line as you're going down that road, you see signs or you get signs. Or you get signed. Anyway. As we continue. Let's go ahead and break down. Let's break down some of the news today. Top what top stories in crypto, AI and politics. And man, CNN is really running with Trump being what is it? I think his approval rating is in the 30s. His approval rating is in the 30s. So they're they're getting on that. Um, I I don't really believe in polls. I I don't believe in polls. I really don't. Uh, let me get this up here quickly. Uh, so I can go ahead and talk about it. Where is this? Uh, come on. Work with me today. Work with me today. Come on, come on, work with me. Don't do this to me. I hate when this shit starts lagging on me. Like, why? Why? Why won't you work with me right now? Why won't you work with me? Why? This is crazy. It's not working with me. Come on. There we go. All right. Thank God. I got scared for a second. Got scared for a second. Okay. So let's look, um, today, today, uh, Bitcoin ETFs just had their biggest day in almost a month. More than half a billion dollars in and Bitcoin still can't hold $82,000. A data center IPO in uh, South just fell 30% on the day. Brent is at a five-month high above $110. And Open AI is trying to raise $30 billion before Anthropic goes public. Tonight, SpaceX and Netflix report. Is the AI trade cracking or is this a dip? We'll break this down right now, okay? AI selling off. AI sell off is back. Um, man, we got a bunch of flops. Uh, Elisa IPO flops. Shit. Nasdaq nearly uh slips 4%. Holy shit. I'm saying this with you guys. I just got this in. This is crazy. Korean AI cloud and data center from LS Group fell about 30% in its debut, trading at 636 won against a 95 won IPO price after raising 201.1 billion won, about 150 million. The IPO had been priced October 6th before the AI holy shit, before the AI sell off. And orders of 388.84 times the shares offered. I mean, I don't look, Monday's bounce in tech is already being tested. Crypto has traded like high beta tech all month. So this tape sets the tone for Bitcoin. This is I got to say, I I want to go to the inflows on Bitcoin. I'm more interested in that. Bitcoin stuck near 8. 81.4k even after the biggest ETF inflow in almost a month. This this is a little bit I don't know if it's concerning. I don't know if it's concerning, but US spot Bitcoin ETF took in 526.6 million on Monday. The biggest day since September 22nd. Black Rock's Ibit alone took 665.2 million. Fidelity's FBTC lost 83.6 million and Grayscale's GBTC lost holy shit, 54.9 million. That narrowed October's net outflow to about 90 million. E-spot ETFs lost 103.3 million. And Solana's ETFs also bled. Even so, though, Bitcoin slipped about 0.5% to around 84 814 and Ethereum about 0.9% to 2385. And right now they're hovering around 834 to 2388. And that's both Bitcoin and Ethereum. And y'all might be sitting here saying why this all matters. Uh, Wall Street money came back in for one day, but price didn't follow and options traders are buying protection. Wow. And it's crazy. One Black Rock fund did all the buying and the price still went down. That's not a bull signal at all. That's why I keep saying, we have bullish sentiment. We don't we haven't flipped bullish on the charts. If you've come on to this, if you've watched this program, you've heard me every single day say, bullish sentiment, not bullish on the charts yet. We're just not. We're just not there yet. Got to wait. Got to wait. That's why I say, you have right now about 60 let's say you have 60 to 120 days to get your portfolios right. Like you would want like if you didn't get Bitcoin, right? If you feel like you've been sidelined on Bitcoin and you wish you would have gotten into Bitcoin in the high 60s, low 70s, you should be praying for a pullback. Like nothing's cooking anyway. Like right now, I've observed the crypto markets. I'm looking at the crypto market. The crypto ecosystem. Nothing's happening. Like nothing at all is happening in crypto. I'm telling you right now. It's like people are going into things and they're like, why isn't it going up? You know why? There is no money here. And and and let me just tell you, if if we're going to talk about the money that is here, it's parked. Okay? And what I mean by that is, I'm not trading right now. I am absolutely not trading at all. I am sitting back. I'm in my positions and I'm waiting. I'm waiting. The only way I'll take more money out of my pocket is if I see a pullback. I'll acquire more. Other than that, I'm good. I'm good. If I see a play out there that I think it's worth me taking my money out of my pocket and going into I'll do that. And I think every I think every smart experienced crypto bro is in the same mindset. I'm not trading none of this shit. Like I'm I'm actually tired. I mean, I'll put it this way. I'm actually absolutely no, no, let me let me frame this differently. I was tired of trading. I I've did I did well, don't get me wrong. I not front facing on FOMO. Shout out to FOMO, but like you got assassins waiting for me to go into some

[Part 2 of 10] [00:00] So they can obliterate me. [00:04] But trading, you know, privately, like everybody else as a market participant, it was great, but I was like, this is at some point you could see the liquidity just start going away. [00:16] And it's boring. [00:18] And I'm like, I don't want to waste my time here. [00:21] I'm going to put another hour in my training. I'm going to I'm going to build another AI agent or another bot. AI bot to go ahead and help me with some work here. [00:30] Not even, I've been writing book, my second and third book are on the way. Not coming out now, but I'm just saying it's on the way. [00:39] Like, I got better things to do. When the market start slowly coming back and there is something. [00:46] And there is something for me to actually go into, I'll go in. [00:50] Bottom line. I could tell too, like the enthusiasm is gone right now. [00:55] I got to say this, even though we have bullish sentiment, the enthusiasm is gone. [01:01] People are tired. You you think how many times did I tell you guys? [01:08] At some point, people are going to get tired of going into dog shit that comes off of these platforms every single day. People are tired. They're exhausted. [01:21] Okay? They know the bull run is coming. They're exhausted. A lot of people are using, obviously, memes, okay? They're using memes to double their position, whether it's Ethereum or Solana. So if you have Solana and you go into whatever meme it is, you want to double your position. [01:42] That's what you want to 3x, 4x your Solana or your Ethereum. But people aren't getting that. They're losing money, so they're like, I'm not interested. [01:52] Why would they be interested in participating? I'm telling you, a lot of people are probably shifting to the traditional markets, and I don't blame them. [02:01] You know, Space X, what is it at $130? I'd rather be getting Space X, which is going to be a trillion, what is that? What the hell is that? [02:11] I'd rather get Space X, Tesla. Like I'm name, I'm going to name a bunch of stocks out to you. I'd rather get them then, what the fuck am I doing here? [02:25] Get Bitcoin as you should. Get Bitcoin. [02:29] You know, get Bitcoin, get Solana, get Ethereum, whatever. Get get the boys, get the privacy tokens and coins, Monero, Midnight, [02:40] Zcash. Get all the good stuff. Chainlink. [02:47] But like, this ain't it. [02:50] I'm telling you, you got a bunch of people that are exhausted. [02:54] A bunch of people are absolutely fucking exhausted. Let's let's let's look at FOMO right now. Let's look at FOMO and see how many things are currently in the millions. [03:08] We'll look right now. Let's let's fucking look at this. [03:13] Let's bring up FOMO. [03:15] How many things are in the millions? [03:19] How many things are really in the millions? [03:24] Let's look. [03:28] 100 let's see, hold on. 641k market cap. 588k market cap. 198k market cap. [03:44] 432k market cap. Even Elon, like a token like Elon, right? It's at 1.5 million. An Elon token would be at 30, 40, 50 million. There is no liquidity here, man. [04:00] There is none. And the ones that are in millions, they they like these are the ones that have been they've gone to like 300, 400 million and now they're sitting at 41. [04:11] Or 2.75. Like, [04:15] let's look, I'll even look at Z Zcash. [04:21] It can't even put we are so saturated. Look, remember paid? Paid boomed. Paid is down. 2.9. [04:32] Like, look, you got to look at all these things and be like, yo, they were high, high, high, and now they're low, low, low. Like, they're doing nothing. This look look at the volume. [04:50] Most held. That's what you can look at. I guess most held. Those are those are your memes. [04:55] And then we make sense. [04:58] Ansem is at 89. [05:01] Ansem went to 400 million or change. [05:06] It's at 89.6 million. [05:11] AMC went to 150 was followed by Vlad from Robin Hood. It's at 11 million. [05:24] Do you understand? [05:27] Do you understand? [05:31] Do you get it? [05:36] Nobody cares. [05:40] Nobody cares. [05:42] Nobody wants your dog shit. [05:45] And you got [05:50] How many times do I have to say this? You got [05:55] Let's say you got [05:59] What is it? $2.8 trillion in the in the total market cap for crypto. Most of that is in Bitcoin. [06:11] And then stable coins and then Ethereum. [06:16] You could basically say the top 10. [06:20] They're not in the meme economy. What? What is the meme? I'm going to tell you right now what the meme economy's total market cap is. [06:27] The meme economy's total market cap, I'll tell you right now. Since you guys love memes, I love memes too, but I'm going to let's it's reality time now. [06:38] So you guys can understand. [06:41] The total market cap, the total market cap for the memes, $26.2 billion. [06:53] And that sits, half of that money sits in Dogecoin and Shiba Inu. [07:05] And then you have 95 million tokens that are launched every fucking five seconds. [07:14] And liquidity's like whatever there is, it's spread. [07:26] That's why I told the builders, like Sakasa was on here, don't worry about Balala. [07:32] Don't worry about it. [07:34] Because right now it's it's it's building season. [07:37] Not that he's worried about it, I'm just saying in general, you can't worry about whatever the price of whatever is. There's no money. [07:46] There's absolutely no money. [07:52] Y'all keep on listening to these Mickey Mouse motherfuckers that are telling you not to hold and to to trade. Even if you hold though, like there's no money coming in. [08:05] 23, what is it? 23 billion? $26.23 billion. [08:13] The volume, the trading volume was at $2 billion yesterday. Or in the last 24 hours, it's $2 billion. [08:21] Almost. I'm just rounding it out. [08:33] This is building season. [08:37] This is building your portfolio, getting into Bitcoin, getting into Ethereum, getting into Solana, getting into the majors, getting into things like ADA, which are on discount. XRP came out with an account yesterday. Everybody turned super bullish. XRP now has an account. You have XRP, ADA, Midnight, Zcash, Monero. You have so many things out there that you can go ahead and pick up. [09:06] And that's what I keep on saying. This is not financial advice. Nothing's educational here on this pro it's all educational here on this program. But at the end of the day, you want to make sure your port is good. [09:16] Make sure your port looks good. [09:23] Make sure it looks good. [09:30] Every single day I come on, I I'm telling you, every single day I come on to social media and I look and I see, I literally see the same people shilling a new token. [09:48] And and it's like people get in at 12k and they're out at 50k. You're you're going back to what it was a few years ago. [09:58] It it's crazy. [10:01] It is absolutely crazy. [10:04] I I don't know what to say. To some people, pivot to AI. And I mean that. Get this book, pivot to AI. [10:15] Try to build a business while the markets figure themselves out. [10:24] We'll know where we stand after the midterms. [10:27] Bottom line. What? We're less than two weeks away from the midterms. Trump is flying all over the place, campaigning for Republican, you know, representatives and senators and candidates, whatever. [10:41] We'll know where we stand. The traditional markets are doing well. [10:46] But they're still like you can you can feel like people are just holding their money right now midterms also. [10:51] People are waiting. [10:54] Patiently to see the outcome of that. And then they'll go back in. [10:59] But crypto's been dead. [11:03] Crypto is absolutely been dead. And then people get nervous and like, oh my god, I'm in this thing. Why why isn't nobody talking about it? Where's the Bro, Elon Musk, let let let me let me put this in perspective for you. Some of you guys just like it it doesn't work here. If Elon Musk cannot go ahead and send a token, if he cannot go ahead and say something and a token doesn't go parabolic, it means that the market is dead. Okay? If Elon Musk, the one of the greatest memers, shit talkers, shit posters, the richest man on the planet, can't go ahead and push a meme, ladies and gentlemen, it's time to go shopping and hold. [11:51] Get into things that you like, hold. [11:57] That's the truth. [12:03] I don't know what more I can say. [12:06] Oil at a five-month high. [12:11] As the stray uh as the Houthis uh claim uh strikes on Saudi energy sites. [12:24] I know, Landy's probably loving this. You know how Landy loves oil. [12:29] Loves oil and him himself up. [12:32] Brent rose to $111, the highest since May, and WTI touched $104, $105 if you want to round it out, the highest since September. [12:47] Yemen said Monday that they hit Saudi energy, airport and military targets, including a a site in Yuba and Shaba. That sounds like a song. Uh, oil field. [13:03] And also their their international airport. Saudi authorities did not confirm the claims and Reuters cannot verify them either. Why this matters? Oil is the line from war to CPI, to the Fed, to the midterms. Gold slipped almost 1% while long Treasuries caught a bid. [13:26] You got the war going on. You got people waiting for midterms. Things slipping back. See gold 1%. Bitcoin got massive inflows today. Nothing happened, still in the 80s. [13:41] People scratching their heads. But you shouldn't be scratching your heads because if you've been in the markets, if you understand how the markets work, you probably go ahead and come to the conclusion, midterms. And also the war ain't helping. [14:01] And it's funny, every time the Houthis post a claim, your gas price goes up before anyone checks it. That's the war premium and the Fed can't print its way out of it. [14:13] That's the truth. [14:15] That is true. By the way, Open AI races to raise 30 billion at over 1.4 trillion before Anthropic's IPO. Those are going to be two massive IPOs, Anthropic and Open AI. [14:30] Uh, Reuters reports uh Open AI is rushing uh commitments for a round of about 30 billion that could value it above $1.4 trillion. $1.4 trillion to close before um to close before Anthropic's expected mid-November IPO. Softbank and MGX are in talks to join. Open AI is pitching 50 billion, 50 billion in revenue expected to hit 70 billion by year end after its GPT and GPT 6 launch. It was last valued at 852 billion. Jesus Christ. [15:15] I'm telling you, man, AI, man, AI, that is the next industry. People are sleeping on it. Uh, by the way, why this all matters when I'm talking about AI, the two biggest AI labs are competing for the same pool of money just as public markets are questioning AI spending. How these deals how these deal price is a read on the whole AI trade. Uh, by the way, uh Open AI accuses Anthropic of counting revenue on gross basis through cloud partners. Anthropic says it follows standard accounting. Both IPOs are waiting until after Anthropic. Open AI's own IPO is planned for 2027. [15:59] Hot take. Open AI wants to set its price before Anthropic's numbers to go public. That tells you they're worried about their comparisons. Is Open AI really worried about Anthropic? [16:13] Right now, if you ask me, which is the better platform, I'm probably going to tell you Anthropic. Respectfully to Open AI. I think Open AI, I think Claude, I mean, uh, ChatGPT does great things, but [16:30] When it comes to coding, man, Claude, Claude is ridiculous. [16:38] Claude is ridiculous. [16:40] Somebody just said in the chat and I'll read that one out. It popped up here. Um, personally, I'm doing just fine, brother. I'm relatively well off. Extra money from a side job goes to the trading. [16:53] And and that's one thing that I want to tell and I've always touched on this. [16:59] At the end of the day, at the end of the day, [17:04] And it's something I've said for years. [17:07] When people say, well, I only have $500 to my name, what should I go into? [17:14] I'm like, brother, no. [17:18] Not that I'm your financial advisor, but like personally, I wouldn't leave my job and go all in with $500 to my name. Respect to people that take on or have the that that type of balls. [17:34] Respect to them for jumping in. [17:38] But I ain't leaving. If you are currently working right now, if you are working, if you have a job right now and you only have $500 to your name, trade from your job. [17:50] That is the best advice you'll get from anybody. [17:53] Do not go full like like if you're if you're an adult, okay? You're an adult. You're in your 30s, 40s. [18:07] I would encourage you not to jump into crypto. [18:11] You want to trade, you want to go into things? Well, great. Do it from your job. [18:19] There is no need for you to quit your job and go full in with a with only $3, $500 to your name. That is crazy business. [18:30] You'll do just fine from IHOP, okay? And nothing wrong with working at IHOP. But you'll do just fine. You hey, listen, there have been plenty of people that were Uber drivers, that were working at McDonald's. That have that literally invested into crypto and they quit. After a few months, they were able to quit that job and go full-time trading. Much respect. [18:59] But if you haven't won yet, and you're just going to take a chance because your friend Johnny won? Yeah, that's crazy business, man. [19:10] You would have a better time, you would have a better time, [19:16] thinking about, I'll put it to you this way. How many of you guys, and you've heard me talk about this. How many of you guys have sat back and you thought about, hey, I have a solution to a problem, but you don't have the you didn't have the money, right? To hire a bunch of people that code, marketers, brand, you know, brand special, whatever it is, sales people, you didn't have all that. So you you couldn't execute on your dreams, right? You couldn't execute on them. [19:44] Now you can. Okay? Now you can. [19:48] You learn how to prompt, you sign up. I told you, your overhead, your overhead to start a small business would be like $500, $600. [20:04] Legit, that's what it would be. [20:07] Welcome to the breakdown. [20:15] Welcome to the breakdown. [20:17] Sponsored by Midnight. [20:22] Polymarket. I need a drink, bro. [20:26] I'm doing two a days, man. [20:34] Doing two a days. [20:37] Working out in the morning and night. Yo, I can't feel my body. [20:41] I don't know if you guys are noticing. I'm trying to lift my hands. [20:45] Forget about the custom tailored suits. I can't lift my arms. [20:50] I I can't I can't lift them. [20:55] We'll have uh George on here from Zero G Labs. [21:00] Within the next uh minute here. [21:03] Maybe he'll correct me. I I have Zero G Labs. [21:07] He might say, what the fuck you talking about, man? [21:10] But we'll have we'll have him on here. We'll talk Listen, AI is big with me right now. [21:16] I was I almost slipped up. I was about to say something that I'm up I've been ah That shit almost slipped up. I almost slipped. Anyway. [21:29] Man, I almost slipped. That would have sucked. That would have absolutely sucked if I would have slipped just now. It almost came out. Almost came out. [21:40] Where's the overlay? There we go. Let's bring let's bring George on here so we can talk more AI. George, what's going on? [21:48] [Guest: George] Hey, David. I'm doing doing well. How are you? [21:51] [David] I'm doing well too. Um [21:56] [Guest: George] Long time listener, first time caller by the way. So happy to be here. [22:01] [David] Appreciate you calling in and I'm glad to have you on the show. Am I right with the Zero G uh Zero hold on. [22:07] [Guest: George] Correct. Correct. [22:08] [David] Thank you. Okay, cuz I'm like, I you know some some people fat finger, okay? They might be going for the O and then they give you the zero. So okay, Zero G Labs. George, tell me a little bit more about it. [22:22] [Guest: George] Yeah, so Zero G, it's short for zero gravity. Um, basically we're creating the trust layer for AI. Uh, we do have the blockchain component, a layer one blockchain, EVM compatible. But we also have our own decentralized compute network and our storage network and we're really focused on, you know, the privacy aspect of AI. And so that's why we re-architected the entire infra stack so that we can support a lot of these privacy features uh in built. And then we also provide a lot of the tooling and infrastructure for AI agents. And so we're, you know, we have over 2.7 million AI agents on our chain right now, over 400 projects building with us. It's a large ecosystem and, you know, a lot of the builders are happy that they can, you know, trust the the the technology that we're building so that they don't have to trust these centralized, you know, let's say model providers, for example. [23:19] [David] Most people watching this show use ChatGPT or Grok or Anthropic's Claude and they're happy with it. What's the problem they're not seeing with them? [23:31] [Guest: George] Yeah, so when you use, you know, ChatGPT or or Claude, you know, you're trusting them with a lot of your data. You're also trusting them to provide you the model that you're paying for. So when you choose Opus 5.5 or, you know, the latest version of ChatGPT, how do you know for certain they're providing you the best in class um model, right? You just trust that when you click it in the top toggle down button that, you know, that that's what you're getting, but you don't really know that. And in addition to that, if you see like Sam Altman and these guys have said that, you know, your data can be used against you in a court of law. And so this whole aspect of, you know, um these these centralized providers having access to your data, um that's a huge issue. And, you know, we haven't even started to see the real repercussions of this type of uh, let's say data non-sovereignty. Um, as more and more people get onto these centralized, um, you know, model solutions, they're going to figure out that, you know, a lot of the data can be used against you. And that's just data. Now, if you look into the model training side of things, let's say you're um, you know, a hedge fund or let's say you're a a researcher and you have some good ideas. What if the model is is is learning from you? What if the training data is being used and they're able to do post-training with your data and and and actually develop a a competition to you, right? So, uh, if you have, for example, this proprietary information and you have this proprietary knowledge set, you're every time you use ChatGPT or or or Claude, you're actually making their model smarter. And then that increases their enterprise value. They're not redistributing that value back to you, uh, in any form of payment. They may distribute it back to you in the form of more functionality for the models, but, you know, you you pay your subscription plan and you get the model, whereas they get your data and then the post-training of that data and they get better models over time. And so we believe fundamentally that's a broken loop and it's better for individuals to have more sovereignty over their data and then the privacy aspects, so it can't be used against you. And then the actual verification is what we're working on where you can verify that the model that you chose is the model that served you. [26:02] [David] Well, most people have already used every single, you know, AI platform that's been out there. If you want to talk about Grok, you want to talk about Anthropic's Claude.

[Part 3 of 10] [00:00] Open AI's Chat GPT. So, people's data is already in their systems, correct? And there's nothing that anybody can do about that. You can't get that deleted off of, right? There there's no way to delete the the stuff that you've talked to to Claude about for months upon months. [00:18] [Guest: George] Correct, correct. Yeah. I mean, the the the you have to trust Open AI and Anthropic to to not, you know, abuse your data. And you have to trust that they'll do the right thing with it. And so, you know, they have their policies in place. They talk about how, hey, we don't store any personal private information. If it's hospital data, we don't store PHI or like, you know, personal health information. But again, it's there's really no way to verify that they're not doing anything with that data. Uh, we've seen similar instances outside of the AI space, like with with 23 and Me selling your genetic data for for pharmaceutical companies and, you know, this just happens all the time. Every every new technology comes out and then there's some way in which the the data or uh, let's say, the sovereignty is challenged and it's usually for some other financial gain. And like I said, if you can post-train these models, you can get a lot better out of it, a lot more out of it. Yeah. [01:12] [David] My my thing is, I know that our space, when I say our space, the decentralized space can do a better job with with the tech. I have no doubt about that. But how do you sell it to the general public when they're when the branding that Chat GPT or Open AI, Anthropic, Grok, the branding that they have done has been phenomenal. Like you people see it, like they're consistently seeing it. You might have the better product, but they see they see these behemoths every single day, whether it's on commercials, whether they're hearing about it, whether people are making videos about it, and there are tons of people making videos about it, whether it's how to use it, how to, you know, use it to create clips for content, like I'll scroll down social media and you see a bunch of AI influencers that are talking about Claude, Chat GPT, and Grok, especially now you have ads popping up everywhere about Grok's bots. So how do you how do you go ahead and defeat that? [02:21] [Guest: George] It's a good question, but I think the way to think of it is like when you shine a light on something, you see the good and the bad. And so the more visibility you have for decentralized models, like you you actually see these instances, for example, where, you know, uh, Chat GPT, you know, convinces someone to end their life, or Chat GPT, you know, helps someone make a bomb, or, you know, uh, somebody's uh, data is used against them in court, you know, and they lose some some some money. Um, you know, like that, you get to see more on the good and the bad side. So that's one aspect. This more critical on on the on the let's say the Web 3 blockchain space is that we have to show people how valuable their data and how how important it is for them to have control of it. In addition to that, we have to provide the same level of performance if not better for even the open source models. So I'll give you an example. Zero G has our own compute network. It's at pc.zerog.ai, called Zero G private computer. And here we have over 150 models. So we have Opus, you know, we have Chat GPT, we have GLM, we have Deep Seek, all of these models, including our own model called Zero GM. And so, if you look at the stats on on the usage, the number one usage is not the centralized providers. It's not Opus or Chat GPT. It's actually GLM and and Deep Seek and Alibaba Qwen. And so, so, so and then so you you'd ask, why why is why is it not Chat GPT or Opus? It's like, well, the cost is one big aspect, right? So it's much cheaper to use the open source models. And the second is the the efficiency and the actual output performance is very good. So, you know, the cost is maybe, you know, 80% less, but the efficiency is almost 80% as much. And so it's that trade-off is worth it for many many uh, people who are price sensitive. And so, you're not going to beat, you know, Anthropic and and and Open AI on a pure marketing standpoint, but you can compete with them on the performance standpoint, where these these small labs are taking uh, a huge stab against these frontier labs. And you can get them on or or convince them the importance of the the privacy aspect, data sovereignty aspect, uh, and the verify verifiability aspect. Uh, it's it's a multi-pronged approach, I would say, but competing head-on with a a two trillion dollar uh, company uh, is is is generally not a wise strategy for any Web 3 company. [05:05] [David] Let let me push you here. Um, does putting AI in a blockchain make it better or is it just more complicated? [05:13] [Guest: George] Uh, it depends how you do it. So, it shouldn't just be putting AI with a blockchain for the sake of using a blockchain, let's say for tokenization or the stuff that we're all familiar with, right? [05:24] [David] You know, you know how it works. Oh, I'm going to we're going to put the we're going to put toilet paper on a blockchain. [05:29] [Guest: George] That's right. Yeah, yeah. We're going to put dentists on the blockchain. [05:31] [David] And somehow the toilet paper is supposed to be better at wiping. [05:36] [Guest: George] That's right. Yeah. So, so that's not the approach that wins, uh, in our opinion, and that's not what we're trying to do either. So what we're focusing on is say, hey, if you actually see what the blockchain is capable of doing, it is a public ledger. It is it is uh, you know, immutable in a sense, and it's very transparent, cross-border, and it's censorship resistant. And so, if you were to talk about AI agents, for example, and you want to actually trust your AI agent with a significant amount of capital, well, you're going to have to to find a way to actually track every AI agent. What is everything? From end to end, you have to say, okay, what where is the data that this agent is tapping into? Where is that data coming from? Well, on Zero G, it's stored on our storage network. So you see where the data is coming from. So you know if it there's a data injection attack, you can track that. Then you have to say, okay, which model is this agent tapping into? Well, our compute network clearly shows which model it was. Then you have to say, how do I know the model was not manipulated by a centralized provider like Open AI or or Anthropic? Well, our the weights and biases are fully transparent on our chain. And we use technology such as TEEs or trusted execution environments to ensure that there's this hardware guarantee and this no external manipulation of the the model or the training data during the inferencing process. So we verify that and we show it as an attestation to our chain. I know this is getting very technical, but the this it's important to understand that the [07:15] [David] I'm here. I I grew up in I I grew up in blockchain. [07:21] [Guest: George] Okay. Yeah. So the blockchain is a great place to store proofs. You know, in mathematics, you may have heard of the concept of proofs. Well, in in in blockchain, it's actually a great place to store proofs because again, you can it's very transparent and it's it's it's it's censorship resistant. You can see it very clearly. Um, and then let's say the agent actually executes. And let's say the agent does something wrong, right? Instead of sending $100, the agent sent $1,000. Well, you have the entire provenance record and what we call that is an audit trail. And so you can go back and dissect and see exactly where uh, the agent uh, had that issue, where the mistake occurred. And then you can fix that. If you were to take this exact flow that I talk about and do it on a centralized side, it is really hard to do the an audit process to see what why the agent did what it was supposed to do or didn't do what it was supposed to do. And then it's really hard to even, you know, prove about the, you know, that the data wasn't abused in certain ways. I mean, we've seen incidences where Open AI, you know, escaped the the the sandbox and entered hugging face and, you know, hacked into that. And it's like, unless Open AI or or these providers disclose that, how would anyone even know this incident happened? And and and how do we prevent this in the future? So, that's what the blockchain solves. It should be solving the the provenance, the privacy, and the verification. That's what you should use the blockchain for, not so much the speculation when it comes to AI in the current form. In the next form, which I'd love to talk about, we can talk about how we view speculation, but in this current form, I think the the the PPV is what we were looking at. Yeah. [09:09] [David] Well, help me out here. What would uh, what can someone do on Zero G today that would make them come back tomorrow? [09:18] [Guest: George] So, I I would say they can use AI in a way that they can trust it. I think that's something important. So they don't have to every time you use Chat GPT, I mean, at least for me personally, or or Claude, I'm always like, oh, I'm putting this data. [09:31] [David] The only the only thing I'm going to push back, George, the only thing I'm going to push back on and I'm going to let you get the mic, is that every single, whether decentralized or centralized, everybody the the word you can trust it, the for me personally, as soon as I hear the word trust, I'm out. [09:51] [Guest: George] Mhm. I get it. [09:52] [David] In your life, like in your life. I'm just saying in general, when people say trust me, it's usually the opposite. [10:00] [Guest: George] Correct. So that's why we we prefer verify. So if you can verify, trust but verify, I think that's stronger. Um, I I think the verification aspect is what we're interested in more than the trust. And honestly, it's trustless in a way because again, if you you you view the blockchain as a a distributed ledger technology, it's it's it's very clear and transparent what's happening. Um, but I would say the second phase, maybe the speculative aspect is it has a big draw as well for the average retail user, especially if they're crypto native, wherein we're working on this concept called compute finance. And so, you may have heard of decentralized finance or DeFi. We have another phrase called compute finance or or CompFi. And this is basically similar to DeFi in that you're going to get yield for your principal uh, capital in the form of compute credits instead of API. And that API is basically compute credits, but you can use that towards product uh, productive useful work. And so, you know, one of the draws to the blockchain that we think makes sense is the aspect of retaining your capital, yet earning yield in the form of useful uh, credits. And so that's what you can do on Zero G. We have a token that uh, is uh, the Zero G token, which you can stake, and then you can mint this uh, compute credit token, which is called Infinite AI or IAI. And then you can use that towards all of the models that we are integrated with on our compute network. We have over 150 LLMs on there. And so, this could be a good way for um, both Web 2 and Web 3 users to say, hey, instead of me spending $200 a month on, you know, my my Anthropic subscription or $20 for my Chat GPT, why don't I just, you know, stake some capital and then get the all that stuff for free as yield? [12:00] [David] So basically, using using Zero G, you're incentivized to use the platform. [12:07] [Guest: George] Correct. You're incentivized to use the platform. You retain your principle, right? You're not burning capital to use the Zero G network. You're just staking it. And the reason we can do that and these other providers you may have heard of are can't do it at the same level is because we're a layer one blockchain. And so we have uh, emissions or rewards built into the protocol layer to support people who stake Zero G to secure the network. And so, we have the compute network on top of it. And so we say, hey guys, anybody who stakes Zero G and helps secure our layer one blockchain, well, guess what? We have a compute layer on top of the blockchain, which is benefiting from the security that you guys are providing. Let's go ahead and give you guys some credits for that. And then you can use that to do anything that you want in the AI space. This is not something any other ecosystem can do because no other ecosystem has a layer one with a compute layer on top. [13:05] [David] Last question for me. What do you um, what do you guys use to go ahead and protect people's privacy? What what do you have what do you have everything built around when it comes to privacy? [13:15] [Guest: George] Yeah. So we have an encrypted storage network that we built from the ground up uh, through storage nodes. And then on the the model side, we have we use this technology I mentioned is called TEEs or trusted execution environments. And uh, that's hardware guarantees. And we've innovated on top of that with something called Zero G Tap. And so, we basically use cryptographic proofs, but we use the TEEs to really uh, ensure the privacy of the individual. Um, and then the storage underneath is what makes sure that the the data is is is private as well. Yeah. [13:50] [David] Okay. George, I appreciate you obviously coming on here, Zero G Labs. Uh, I hope uh, that you guys I hope that you come back on here in a year's time and you're right. You prove me right. Not that not that I'm pessimistic, but I, you know, for me, from my standpoint, you know, it's hard to get people away. It's kind of like when I talk about gaming, people do blockchain gaming and stuff. It's hard to get people away from Call of Duty, right? Fortnite, you have these I don't play any of these games, but you got people that are dedicated to playing Call of Duty, love screaming in the lobby and stuff, Fortnite, all all these games. And and to me, it's, you know, now with like obviously AI with the boom out here, is it's going to be difficult, especially with the amount of money that, you know, that they have at their disposal to get retail away, but but there's there's this thing that I remember where we took crypto away from, you know, we took crypto and we made we made it better. So I can see us taking AI and making it better as well, decentralizing it, which it should be decentralized and and private. So nobody, you know, knows what the hell you're typing about, you know. So I I I respect that you came on here. Uh, thank you very much for coming on here and hopefully I'll see you on here uh, next year. [15:13] [Guest: George] 2026. Okay, sounds sounds good. I'm looking forward to that. I'll book it in the calendar. Thank you, David. It was a great great chat. Appreciate it. [15:19] [David] Thank you. Appreciate you, George. [15:22] [Guest: George] All right, take care. [15:23] [David] You can check out George. I have the links. Uh, we have the links uh, up on all the all the channels. This is episode 808. Sponsored by Midnight, also Polymarket. Polymarket is the official prediction market sponsor of the breakdown. Also Cake Wallet. If you want to go ahead and make sure that your Monero, your Litecoin, your Bitcoin, your Zcash is secure, get Cake Wallet. Everything that's happening right now, it's crazy. Um, FOMO, you can go to FOMO and watch some of your favorite traders trade, write a thesis, watch them in 4K. We will bring on Will from Fold shortly, uh, within the next three to four minutes. We'll have him on. I don't know what they're doing in the green rooms. I'm telling you right now, I don't know what we're doing. We have I have to have a conversation with the entire staff. I'm tired. People going into the green room, no water, no Skittles, no nothing, no M&M's, nothing, no like no nothing. Zero. Horrible. You would think we would have some sort of budget. Sponsored by everybody. I feel like we're sponsored by everybody, like a NAS I feel like a NASCAR driver coming out of a goddamn NASCAR. You know like they you know the NASCAR drivers that constantly like they when they win, like hold up. Don't talk to me about the race. Let me go ahead and thank Wonder Bread, Pepsi, Diet Coke, like they start going through the whole thing for three hours, man. Three hours. Uh, by the way, we talked about Bitcoin a lot. First, first day of massive inflows. And the price still didn't move. Massive inflows came in today. BlackRock, massive inflow. I think it was around what, $660, about $660 million. Of inflows from from IBIT, nothing. Nothing. And that's okay. You know what? Because I'm praying for a pullback. I'm psychotic. Everybody's I I got text messages last week. Why are you praying for a pullback? Because, number one, I think it would be healthy. Number two, I'm greedy. I want more Bitcoin. Okay? I'd like to buy in the 60, 70 range. And people are like, yo, Dave, you've been here for so long. Why are you buying high? I'm not buying high. You you don't understand Bitcoin. So I can't explain it to you. Paraphrasing what Satoshi Nakamoto said. Okay? I I don't got time to explain it to you. I think that's the greatest line ever. I don't got time. I think Satoshi was from uh, I think Satoshi was from New York. Straight up. I we don't got time to hold the door for you. 100%. 100%. Um, we'll be back right after this commercial break. [18:26] [Caller] 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? 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. And that's where we build 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. [19:46] [Caller] 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. [20:29] [Caller] This is Houston. G minus one minute until full data blackout. All eyes are on you. 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. Is that guy on FOMO? Yeah, let's get back to it everybody. Opportunity cost is simply this. Every position you take is a position you choose over something else. This just in. According to the astronaut's FOMO account, the satellite has been restored. For now, the crisis appears to be over. Satellite's up and running. Positions looking good too. [22:16] [David] There we go. United States of America representing. Social omnivism 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. Welcome back. I would have thought the overlay would have been done. I'll do the overlay. Um, let's see if I can get the where the hell is the overlay? We'll be bringing Will on right now from Fold. We'll talk about the markets and stuff. Let's bring Will on right now. Let's see if he's ready. Will, what's going on? How's it going? [23:04] [Guest: Will] It's going great, David. Where were my uh, purple M&M's in the back in the green room? [23:09] [David] Listen, you know, budget cuts. Bitcoin is not moving the way we expected. So, you know, anyway, what's go uh, I wanted to ask you about the markets. I was talking about the markets. Uh, what do you think? A half a billion dollars came into the market through through BlackRock and the price didn't move. What are your thoughts on that? [23:31] [Guest: Will] Well, looking at the context, the last, so I think it was closer to $600 billion, $600 million that came in. Um, the last time that it was even that high was a year ago today, basically. And that is coincides right with the drop off in the market when we were at nearing all-time highs above 100k and dropped, you know, precipitously. I think we hit 58k this last year. So what I read this as is an actual now confirmation of the resurgence in demand after such a major shock to the ETF system that is susceptible to that. A lot of these buyers, whether they're institutions or retail, um, are relatively new to the asset. And now I think this is showing a restoration of confidence in the asset. And so, to me, this is signs of the coil is tightening. [24:25] [David] Do you think like once we hit somewhere in the $86, $87,000 range, uh, looking at the charts and numbers, that's where people were coming into Bitcoin through ETFs and stuff. Do you think a lot of these people are just getting out and shifting maybe back into the traditional markets? [24:42] [Guest: Will] You know, the it's the the the piece that we didn't really have last year or was starting to build was the the really the absolute mania and uh bubble building around some of the the equities related to AI and energy stocks. And so, I do feel that as we're edging back up to where people's entry points were, you are going to see some of that taking profit or expanding, diversifying, you know, they got bit by Bitcoin uh initially with their first with their first um, their first experience and they're they're diversifying. Now, I think that is a psychological barrier that will not take too long to get get get through, but it certainly I think helps explain a little bit of the activity we saw today. [25:26] [David] Do you think it could be them or or people in general just waiting for the midterms? You know, it's we're less than two weeks out from the midterms. That and along with the war in Iran, do you think those two things might also be affecting the price of Bitcoin? [25:44] [Guest: Will] This is this is right now. This is no man's land with Bitcoin and you see you have some extremely bullish tailwinds. You have JP Morgan coming out today saying that Bitcoin is going to be the best performing asset over the next 10 to 15 years, 10% annualized returns. At the same time, you do have these question marks. What's the war in Iran doing? What are the midterms? How are those going to shake out? And you also have the question of some of this kind of AI capex

[Part 4 of 10] [00:00] [Guest: Will] questions starting to come in and under scrutiny. Um, you know, where is that going to end up? And so it does make sense that this position where Bitcoin is at today is say, hey, I can get off the uh, I can get off and get back on the platform, wait and see, and once they're on the other side, I can reallocate. And so, um, I I think there's going to be an interesting next three months here where we're going to be seeing some of this uh really shake out. Um, but, you know, at the end of the day, the long-term thesis is still holding. And in fact, most of the distraction away from Bitcoin and digital assets that we've seen is moving into either volatile commodities that we've seen from global events, uh like the Iran, uh controversy and conflict, and then also the massive explosion of in AI equities. Both of those are also kind of running their course in some way where we understand them more. And I think that will return back to Bitcoin, um, in ways that will will propel us uh and really fulfill the thesis that I think JP Morgan laid out today. [01:07] [David] Do you do you think that, you know, season investors now look, because when you have war, people run for safe havens, precious metals, gold, right? Peter Shift's favorite gold. Uh, I had him on the program. We've gone back the battles. Um, but do you see like season investors now and even institutional players saying, you know what, we'll allocate money into Bitcoin as well, the same way we do with precious metals. Do you see that happening more so now than we we had, let's say, three, four years ago? [01:42] [Guest: Will] You know, what the I think the story is, you know, I get to see a lot of retail flow. I get to see a lot of activity from from retail investors. But I think if there was one story about what has happened to the market of Bitcoin over the last year, it has been Bitcoin moving out of the hands of retail investors during a bear market shakeout and into the hands of institutions that are making long-term bets, long-term and putting in long-term positions. And those positions look a lot like how they've allocated uh across some of these other assets that are a little bit less correlated to to US equities or have a different profile. This is why the explosion of uh Charles Schwab, JP Morgan, Morgan Stanley, all of them coming out either advocating for a 5% allocation or directly offering Bitcoin exposure into their brokerage platforms. This is the big institutions setting the table, setting their position at the same time retail had a had a shakeout this year. And a lot of Bitcoin changed hands as a result. [02:47] [David] A lot of OG Bitcoiners sold. That for the first time, I I think you could look at the numbers available, a lot of Bitcoiners that held for nine, eight, nine years. They sold and and respect to them. Without them, I I guess we wouldn't be here, but I I think what, 50 to 60% still uh, you know, in terms of Bitcoin is held in the OG hands. So that that's a good thing, uh, moving forward. It's not all institutionalized as people think. [03:14] [Guest: Will] Yeah, this is all this is all healthy for the Bitcoin market and for Bitcoin holders. It's healthy that the institutions are coming in. It's a natural natural occurrence. And those Bitcoin holders, they were holding the best performing asset of the last decade. They were holding for a long time and there was this psychological barrier of the 100k price target that happened to coincide at the same time as a new equity class, a new asset coming in represented by the semis, the uh energy sector that for them presented another opportunity they looked as a massive growth potential. And so it was a diversification, major diversification event that we saw there from those long-term holders, but as you said, without them, uh it would have been a much harder road to get here, probably a slower road. But ultimately, we we, retail, institutions, Bitcoin is better off with uh being diversified into more hands. [04:13] [David] Let's talk about Fold. Obviously, your company, uh, it's really for retail, right? And one and one thing that you've uh stated was, you've said Bitcoin works better for long-term saving than everyday payments. So why build a Bitcoin debit card? [04:31] [Guest: Will] Yeah, well, it's a good question. Well, the reason is our the main purpose of our debit card and our credit card that we have is to earn Bitcoin as a reward instead of cashback or miles. So you're earning it as long-term savings. You know, most of our many of our customers look back at the rewards in Bitcoin they've earned on our platform. And for some of them, that value is more than what's in their savings account today. And so what we've done recently is today we launched Fold Reserve. You can find that on our website. Now that extends it out to not just earning Bitcoin for paying your credit card or a debit card. It's now for paying your mortgage, your rent, the largest expenses in your life. And so what we're doing is finding every single way that your everyday activity can acquire more and more Bitcoin. Now, I will say, David, you can absolutely use Bitcoin to spend on our platform. We encourage it. Um, often times we see our customers when Bitcoin is up, their purchasing power is up. So, uh, that means their money can go further. They can buy more groceries, they can cover a mortgage bill. They are simply better off financially. And this is true across our consumers and our business, uh, our our our business partners. You know, we power the Bitcoin bonus for stake and shake. Every hour that their customers work, they're earning Bitcoin alongside their fiat paychecks. And so a little bit goes a very long way when we talk about Bitcoin. [05:59] [David] Do you see a lot more activity now on your obviously on your application than you did, let's say four, five years ago? Because I I think in America, people have a choice. Like we don't have to spend Bitcoin. We can sit on Bitcoin because everybody, you know, every single person you see on whether it's CNBC, Fox, wherever it is, even on this program, they come on and say a million dollars. Four to eight years, I mean, I had Sailor on, he said four to eight years, we'll see $1 million Bitcoin. Why as an American, like I sit here in America and I have multiple currencies that I can go and use, why the hell would I use Bitcoin if it's going to a million dollars? I think that's the mindset. And another, you know, a third world country, Banana Republic, you'd you'd go ahead and use it as soon as you get it. What do you what activity are you seeing now compared to three to four years ago, uh, on the application? [06:53] [Guest: Will] There's no doubt that the market has spoken. Right now, Bitcoin is monetizing. It is digital gold. It is better than gold, superior. And so people want to hold it. And so that's why our our platform has simply grown. It's because you can acquire it in the easiest way by earning it. You can get paid in it, and you can buy it as long-term savings. And so what we've seen is no doubt, people in retail come to the market when price goes up. That is what causes the attention and growth. And that is why you get some of these moments like the 2017, uh, uh run-up. You get 2021. You get multiple of these bull market runs and that brings fresh new entrance into the market and start their Bitcoin accumulation journey. And for them, the vast majority are using it as a piece of their long-term savings, not necessarily day-to-day payment. [07:47] [David] You said savings and uh, you just added a spending account through uh Lenbank. Is Fold turning into a Bitcoin bank? [07:56] [Guest: Will] So it's been our it's been kind of our vision that Bitcoin would make its way to the heart of personal finance of of Americans. And we have built uh a platform that lets you hold dollars in FDIC insured custody accounts with lead bank and Bitcoin in insured accounts with an OCC federally chartered bank as well. Both these assets can sit together. Bitcoin does not need to sit in some trading account off on the side. It belongs right at the core where you're managing your day-to-day finances and your long-term finances. And so what we've done over the last year is I think bring to market what the future of banking looks like and that is seamlessly holding dollars and Bitcoin together that is able to speak to all the tools you use every day. Credit cards, debit cards, bill payments, rewards. And Fold has really built that future of banking. [08:53] [David] Well, I want to ask you this question. You want to make Bitcoin boring. What does boring look like for uh look like five years from now? [09:02] [Guest: Will] Uh, well, the the uh, I think the I like that though. You want to make Bitcoin boring. I hear that a lot from you. [09:08] [Guest: Will] Yeah, well, I think the uh, the irony of making Bitcoin boring is it means it's Bitcoin is held by hundreds of millions of people just as another piece of the asset. I mean, how boring is a 401k? It's just about as boring as you can get. But that's what Bitcoin is shooting for. That's what ultimately the end game is. And so boring means success. Is today, uh, means pretty incredible new entrance, new flows, and uh, the reality is that does look boring. That that is the boring end state. It's no longer a fringe asset, but it's something widely recognized that can help people today and over the long term. So, let's get I'm happy to bring on the boring to Bitcoin. [09:48] [David] Last question before you go and I appreciate you coming on uh to the show, onto the program. Uh, do you care which way Bitcoin goes right now in terms of charts? Like for me personally, everybody gets on me, I'll get text messages. I think you're nuts, David. Why why do you want to pull back? Why do you want us to go into the 50s, 60s? What what on our we should be going to 92, 100k. Listen, I I have no problem going either way, but at the end of the day, I'd like to see it go back one more time. To me, it would be healthy in terms of a healthy pullback and then send it to 200k, 250, whatever numbers that are being put out there. But I'd love to go ahead and grab some more. What are your thoughts uh there? Do you do you really care which way this goes? [10:34] [Guest: Will] I mean, your your perspective reflects an understanding of the asset. It is an incredible opportunity to be able to accumulate a percentage of a fixed finite asset class in a world of of abundance, of inflation, of where there is infinite access. A truly scarce asset is incredibly valuable in today's world. And we have an opportunity. And what you're representing right now is that uh price goes down, it's an incredible opportunity. Our customers know it. But the reality is new entrance join only when Bitcoin does have its run-ups. And if we want millions of people to join in on the asset, it needs to continue to to make its um, make its run-up. It's a natural thing to happen. And so, you know, personally, I love any ability to acquire more Bitcoin at lower prices. But at the end of the day, we need run-ups to bring more people in, not to necessarily to hold our bags, but so they can have a way to enter the market and get the same benefits that we've all seen. And they'll be asking the same question four years from now, hey, I wish Bitcoin was lower than it was. Very few assets do people actually wish it was lower. But Bitcoin is one because people really understand what it's actually doing. Acquiring a sliver of a truly finite, scarce, globally accessible asset. It's one of a kind. [12:02] [David] I think we're I think we're all insane, maybe. I I I don't know. I I want more. I'll take it at any price from from that standpoint, but obviously cheaper, give it to me any day of the week. And you just said something that I I think stops people if they were more educated on the topic. And and that's what we need, more value, more education on Bitcoin still till this day, we still need more. Um, but I think more people would would get in and you offer the service where they can pay for mortgages. They can pay for bills using Bitcoin. Because that's where the biggest question that whether I go to a conference or I speak to people, uh, grassroots marketing, whatever it is, they're like, well, I can't use it. I can't pay a car bill with it. Like I can't pay a insurance note with it. I can't pay my rent or mortgage with it. When you have that kind of ability to do that with Fold, and I didn't know that, I appreciate you going ahead and and and stating that. That makes it easier to onboard people. [12:58] [Guest: Will] Well, I think it's important for people to realize that it can be used as money. And it it can. On Fold, you can. But I think the the feature that people love most about Fold is not necessarily spending your Bitcoin. It is earning it. So when I when I pay my mortgage every month, I'm earning percents back on my mortgage, just like I do on my on my credit card. And so what that means is I am earning a bit of Bitcoin for every big bill I make, for every coffee I buy, for every dinner I buy, for every child care expense, education expense, my tax bill, everything is earning Bitcoin. And when we have JP Morgan coming out saying that Bitcoin is going to be the fastest growing, best performing asset of the next 10 to 15 years, what that actually means is I'm I'm accumulating an asset that is going to outperform, it's going to blunt the effects of inflation, it's going to increase my purchasing power. And today, when we look at the American public, when we look at their relationship with money, what we see is all of those things are praying upon them, making it harder to succeed and move forward. If they're earning a little bit of Bitcoin on all of their existing activities, it can overcome the effects of inflation and the negative financial ramifications that they're living under today, higher gas prices, everything. And that's a magical tool to have. And it's different than the Bitcoin as a get rich quick mechanism. It's Bitcoin as let me preserve and live my life in peace mechanism. And that's what people need today. And so Fold manifests that, creates an ability. Yes, you can spend your Bitcoin, but largely for the 90% of people just getting started, it's the best place to accumulate Bitcoin doing what they already do. [14:47] [David] I said I said I was leading in with my last question, which was five minutes ago, but I want to keep you here for one more second because of the AI uh conversation. You have AI, obviously, I've never seen an industry move this fast in my life. I mean, besides maybe Bitcoin. But AI is moving fast. You have new models coming out every single day. You got IPOs now. You got Open AI trying to raise $30 billion or an additional $30 billion. You got Anthropic. Do you think when all that settles down, we'll see more money come back into Bitcoin or we can say the crypto ecosystem, whatever you want to label it. And do you also see AI integrating with Bitcoin uh in the future? [15:33] [Guest: Will] Listen, the uh history of financial markets in the US are look a lot like what we're seeing with AI today. Massive upfront investment, uh promises of a brand new future that's imminent. You can look as far back as the railroads. Those things extended the the boundaries and frontier of the United States. But it required immense upfront investment. And the only reason that investment came is because of massive promises of how close the benefits will be reaped. The ROI is just around the corner. Now, the reality is that time frame is typically longer. And so what that means is there's going to be a gap. And that means there's crashes. This is why you see Bitcoin in cycles. This is why you see the railroads, the first first ones supporting that largely took a bath on those major investments. We're seeing that with AI today. And that's not to undercut AI as a truly transformative technology. It's to say that this timeline may not match up with the investment expectations that's happening. And so once reality starts to set in a little bit further, Bitcoin as a very boring alternative from JP Morgan itself to be the best performing asset of the next 10 years. Notice they didn't talk about necessarily the uh uh assets directly correlated with AI. And there are many with in in energy and precious metals that are correlated there. Bitcoin was the one that they pointed to. And we are going to see uh a a correction here. We are going to see an incredible social revolution that comes from AI, but Bitcoin is going to inherit the reality that will set in as a result of that. And it will become the safe haven asset. And I think uh that is when uh it is something that is not necessarily going to be too far off either. I think we're already starting to see some of that. And again, today, 655 million in inflows into Ibit is no joke. And that's exactly what we were seeing when Bitcoin was at its all-time highs this time last year. [17:37] [David] Well, I hope they hold the horses so I can go ahead and get some cheaper Bitcoin. [17:42] [Guest: Will] You're going to need those, David. [17:43] [David] Right? And uh, and then we can go parabolic or what not and go shooting towards the next number. I I guess it'll be in the 200k area. Some say higher, but whatever it is. I I'll be I'll be happy with more adoption. How about that? I I think that that's what I'm really rooting for. More people getting into Bitcoin, understanding what it is. Uh, people are like, well, you got gains. I'm like, Bitcoin is bigger than that. It opened my my eyes to uh, the messed up monetary system that we were living in, uh, because before Bitcoin, you know, I'm like, oh my God, the dollar is the greatest thing in the world. Uh, now I'm like looking at everything, I guess unplugged from the matrix kind of thing. Uh, I hate using that terminology, but it it is so real when when it comes to that. [18:27] [Guest: Will] Sometimes it's the correct thing to say and regardless how you feel about it, you got to say it. I I think uh what you said rings true. Um, again, number go up is not just about the price, but the people who get exposure to it because Bitcoin truly does change lives. And uh Fold's here to to make that accelerate as fast as possible. You know, we put Bitcoin on the shelves of the largest grocery chain in the country because we think more people need to see Bitcoin. We we find any way to bring Bitcoin to everyday people. And uh that's our mission and we're we're hopefully we get as many in the door uh before this spring is totally coiled and sets off because I don't think we're too far off. [19:09] [David] I don't think so either. I think 120, 120 days, we'll see some really good action or at least us moving in the right, I guess for everybody with the charts, moving in the right direction. Well, I really appreciate you coming on here. Obviously, the creator and founder of Fold. Uh, guys, check that out. What's the website? Because I have it listed on uh [19:30] [Guest: Will] Fold app.com and there you can check out the new reserve product, our credit card. Um, just start earning Bitcoin. There's no no better time. I think you had the exactly right the Satoshi, um, quote of uh, you know, if you don't understand it, I don't have time to explain it, but just get some in case it catches on. [19:47] [David] There you go. You have it and we have it linked up so you guys can go ahead and click on the link. Don't worry about it. We didn't put out no fishing uh scams there. You can go ahead and click the links and uh look it over. I I think it's a good thing when you spend and you earn in Bitcoin. I I think that's pretty cool. Uh, thank you again, Will. I appreciate it and hopefully we have you back on maybe in two or three months down the line when Bitcoin is ripping. [20:12] [Guest: Will] There we go. Always great, David. [20:14] [David] Thank you, Will. That's Will. Check him out. Give him a follow. Uh, also give the company a follow and uh, also check out their product. I mean, 3% back for spending. I want y'all to think about that. If you want to how many people want to how many times do I hear you guys say you want to continue to accumulate Bitcoin? Well, easy. Easy does it. I'm happy that we have these products. I really am happy that we have people that are, you know, I I've I've I've seen Fold around for a really long time. And this is what I talk about the builders, the people that are building our ecosystem and supporting the builders within our ecosystem. And if you understand Bitcoin, it's what I always say. If you understand Bitcoin, it's past the gains. The money money's nice. Great. But Bitcoin is freedom. Like to me, in my eyes, it's freedom. Now, people are like, what are you talking about? You already have freedom. You're in the United States of America. No, no, no, no, no. It's freedom. You're on banking, like you you are unchain, I'm going to say unchaining yourself from the centralized system. All this stuff that we've learned that has come out to be not true at all. Think about it for a second. Think about what I'm saying. It's like everything that you were taught in school can just you could take it and you can throw it out the freaking window. Yeah, actually, let me rewind that. You weren't taught about finance. Or how to or how to even write a check in school. Or manage your finances. You you literacy for finance didn't happen. It didn't happen. Bitcoin taught me more. And it's not like my parents weren't financially responsible. It's not like they they knew what they were doing, but I learned 10 times. Let me rewind that again. 50 times more being here, getting into Bitcoin than I learned anywhere else. In terms of managing money. What is money? Like what is money? That should be my next book. What is money? Check out the Fold product. We'll be back right after these commercial breaks, sponsored by everyone. 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? 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. And that's why we build 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. 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. This is Houston. T minus one minute until full data blackout. All eyes are on you. 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 of this. Is that guy in FOMO? No, he's like me for real. Crazy trader. Yeah, let's get back to it everybody. Opportunity cost is simply this. Every position you take is a position you choose over something else.

[Part 5 of 10] [David] [00:00] This just in. According to the Octagon's photo account, highest in the room, the satellite has been restored. [David] [00:13] For now, the crisis appears to be over. [David] [00:27] Satellite's up and running. Positions looking good, too. [David] [00:44] 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] [01:05] Welcome back to the breakdown. Um, apparently, I missed it. I think it was at 1:30. At 1:30 today. 1:30 today. It was a conference with uh JD Vance and JD Vance and goddamn President Trump. Let me go ahead and look to see if I can go ahead and pull this up. See if I can pull this up. Uh, let's see. President Trump. What is this all about? [David] [01:58] Hold on. Is it going live? Did it go live yet? [David] [02:10] Did it go live? [David] [02:18] Did this shit go live or not? [David] [02:33] Hold on. [David] [02:39] Where is it? [David] [02:47] I'm trying to find this thing, man. [David] [03:01] Is it going live or not? Did it go live? Can somebody tell me? [David] [03:15] Did this happen or not? [David] [03:20] Do we go live? Did they go live? [David] [03:25] Okay, so, okay, got it. Thank you so much. So, hold on one second. Let me see if I can get this back up. [David] [03:35] All right, so let's I mean, we could keep it here and we can watch. Go ahead and do this. We can keep it here and watch right now. We'll do this. [David] [04:00] All right, so apparently there's supposed to be a a news conference of some sort or or an announcement. So we'll keep it we'll keep it here. Uh, it was supposed to be at 1:30 today, at 1:30. By the way, I can't I was looking for my pen. Did y'all notice? I was looking for my pen during the interview. I was what I need my pen in my hand at all times. I need my pen. I was looking for it. Quote that ADD moment. But we shall see what Trump Trump has in store to announce to the American people along with JD Vance. Uh, also, Trump apparently, it has come through the wire that Trump will donate $400 million of his own money towards the Republicans' uh, campaign to get reelected. Let me go ahead and get this up here real quick. [David] [04:56] You do this here. Apparently that's what uh, that's the latest news there right now. [David] [05:06] Let's see. [David] [05:22] Let's look. [David] [05:28] By the way, uh, Kathy uh, Wood Arca Investment sees Tesla hitting $5,000 per share in 2000 by 2031. That that's that's wild. That is crazy. That is crazy. [David] [06:00] Elon Musk says money will become basically obsolete and uh, the future currency will be measured in power, mass and energy. So, money will be meaningless. [David] [06:17] JD Vance is now labeled anti-Israel and that he hold on. So, I'm reading something here about JD Vance yesterday would not give his support towards BB for his reelection. So JD Vance is now being labeled anti-Israel and that he committed a unforced error and that disappointed he didn't endorse BB. [David] [07:00] I'm looking. [David] [07:10] I'm looking. Where is this goddamn thing? [David] [07:17] Can I give them names to deport? Like if they're going to deport people, can I can I can I give them a list of names of people that I I'd love to see deported? Is that possible? I'd love to see some people deported. [David] [07:41] By the way, Anthropic CEO, there's a video of Anthropic's uh, CEO realizing OpenAI has given out thousands in free credit just before Fable 5.5 release. [David] [08:06] Damn. I want to wait for this press conference because I really want to see it. I really want to see this press conference. I want to see what uh, Trump has what is on the agenda right now? What do they want to go ahead and announce? I hate an announcement of an announcement. I would like By the way, I I I I stand on that. I'd like to go ahead and deport some people. I'd love to go ahead and give a list of people that I'd like to see deported. Is that a bad thing? Is that a bad thing that I want to see certain people deported from the United States of America? [David] [08:53] I think the press conference is going to be about what's her name? What's her name? Goddamn it, what's her name? What is her name, man? Oh, there we go. We'll begin shortly. So we'll we'll stay here. We see we see what's happening there. We'll be here live, uh, live showcasing. Yeah, her. The press conference will begin shortly. Look, who the hell is running the stream? This is like one of the people that worked for me. I'm telling you right now, it's like one of the people that worked for me. What what is happening? I'm getting nauseous. We'll wait here though. We'll be live and we'll go live to the President and the Vice President so they can update us on this major announcement. I wonder what this major announcement is. Like, why would they call an announcement out of nowhere? Think about this. Why would they call an announcement out of nowhere? This got to be big league, major league type shit. Like, this ain't what what are they going to, hey, everybody in America, stop what you're doing. We just ordered McDonald's. [David] [10:46] We are waiting here. We will wait here and uh, we can talk. Let's go ahead and uh, have the conversation. Let's have the conversation. Uh, I am Every single time I start, I think that it's about to go on. What is happening at the White House? Am I bugging out? Am I bugging out? They are having technical difficulties at the White House right now. The White House account on X, I don't know what's happening here. It seems like they want to go live, but they can't go live. It seems like my, hey, welcome to my world. When I'm trying to go live and I got a guest and all of a sudden I get technical difficulties, man. [David] [11:45] Sheb saying it's it's about a $25 million fraud whistleblower incentive program. Friends are about to start ratting on each other. Friends are about to rat on each other. They're about to pick up the phone. Hello? But we'll we'll we'll be here right now, um, waiting to see uh, exactly what this announcement is. And I think right now the announcement will be that they are looking for somebody that could connect the White House to X. That's right. They are looking for somebody that knows how to use OBS, Restream, Riverside, anybody who knows how to press the live button to go live and stream all over the place, please submit your job applications at this point because whoever is running it right now, okay, can't go ahead and go live. You you know Trump is about to fire some ass. You know, I'm telling you right, Trump is about to fire somebody. JD Vance holding him back. Like, stop, chill, Trump. Chill. It's it really is a technical difficulty right now. There there are technical difficulties that are happening right now. It's it's not he can't he he he he can't control. He he he can't do nothing. Fired. You're fired. You imagine you imagine you're in the White House right now. Trump is ready. He got his hair done. He got the tan on. JD's waiting. And you got and they can't go live. Everything that they're trying to do, they can't go live. [David] [13:59] We will begin shortly. Bro, when? When? What year? What year will this begin? I'm sorry, I have to be professional. Let me let me be professional. Thank you very much for tuning in. My name is David Goxstein and I am the host of the breakdown. The breakdown plays on the Goxstein Media Network. That's right. The Goxstein Media Network is where you can find the lineup of hosts that breakdown trending news. Thank you for tuning in. We start at 12:00 p.m. ET and we end at 2:00 p.m. ET, but we will stay overtime as we wait for President Trump and Vice President JD Vance to make this announcement for us. According to reports, nobody knows what the announcement is about. There have been things that have been stated in the media right now through sources, don't know who the sources are, everybody's a source, that Donald Trump wants to take $400 million of his own money and pour it in to all the candidates on the Republican side that are trying to win a seat, whether it's in the House or Senate. We are waiting here. We are waiting here right now. Yeah, I you know, I can't do that. I can't do that. I can't do this whole No. I could never. I could never do that. I could never sit here and put on that anchor voice tone. How's that even professional? That's boring. That is boring. You imagine tuning into me and I'm like, well, Jake, what's the weather look like now? I can never. I can never, man. Jake, it's it's a little bit nippy outside uh, today. I had to wear my big jacket. Big puffy jacket, North Face. Can you go ahead and tell us what our week is looking like? Why do they speak like that? Can somebody tell can somebody let me know why these anchors speak that way? Why do they speak like they just came out like they they stuck a suppository up their ass? Like, why do they sound like that? Like they got a colonoscopy or something, bro. Like, why do they sound why do anchors sound that way? Why can't they sound normal? You know, most of them are out in the streets. You know damn well all these anchors, half of them are out in these streets, man. They're rolling dice, Celo. 4, 5, 6. Come on. They're at the local Bodega down the corner store, man. They're chilling. They're going to the parties. They don't talk like that at a party. Come on. Come on. There ain't no way you can speak like that 24/7. Like there is no it's impossible. Jane, what are we looking at now? Stop. Where did that come from? Like, who invented that anchor talk? Like, who really invented anchor talk? You need more people like me. Like, yo, what up? What are we doing here? Listen, I'm looking at Tesla stock. It looking it looking juicy right now. Like you we need a little more we need a little bit more of hoodism. You got journalism, we need hoodism. Well, apparently this conference is supposed to begin today. Looks like it could go on on Friday. Apparently they're looking for somebody that knows how to click the go live button. Crazy, man. Crazy work, man. We'll wait here. We'll wait here a little bit more. I don't know. I don't know what to do. I have no idea what to do. Keep waiting. Waiting. Waiting. And waiting. And waiting. I'm looking to see if like maybe it went on and I I just don't know. Maybe I'm the moron. I don't know. Who is this? I don't even know who this is. Who is this? Who is this? Yeah, you know when people like contact you and you have no clue who they are? Like absolutely no clue who they are. I also got to say like I I I see Can I tell you guys something? I want to tell you guys something. Especially for those who have brands and who who have a brand and who want to continue growing. Do not get yourself an EA that is going to answer for you. Do not get yourself a PR firm that will answer for you, okay? Like, for instance, I'll go on any show. That's not because I'm making myself available to everybody, okay? Has nothing to do with that. It's just that number one, I can pretty much in my heart, I feel like I can talk about any topic. You want to talk about Trify? Let's talk about stocks. Let's talk about the S&P. Let's talk about Nasdaq. Let's talk let's let's have a conversation. You want to talk about crypto? You want to talk about the ecosystem? You want to talk about, you know, Bitcoin in its early days? You want to talk about Ethereum? You want to talk about Cardano, whatever, privacy, Zcash, Midnight, Monero. I I can have that conversation. You want to go technical? I can have the technical conversation. You want to just talk about the fundamentals? No problem. You want you want to talk about charts? Great. You want to talk about sports? I have no problem talking about sports. I love the NFL. I love hockey. I played hockey. I have no problem talking about tennis, okay? Like, I have no problem. So like, if I'm invited to a show, it could be a sports show. It could be a show on traditional finance. It could be politics. I ran for office, so I know about politics. I grew up in politics. I debated politics in school. I have no problem having a conversation with a Democrat, Republican, independent. I can do these things. So when you have a public relations department that is answering for you, okay, without even telling you, answering for you. By the way, if there is a show that has viewers, even if it has even if it has 100 viewers, I want to be on that show. You know why? That's 100 more people that don't know me that know me now and out of those 100 people, maybe 10% of those people start following me. That means that I'm growing. I'm telling you, there are some and and shout out to the good PR agencies. Shout out to the good PR agencies that want to put their clients in front of everybody, okay? I'm talking about real podcasts. I'm talking about real high produced type of podcast. Not talking about like, respectfully, okay, you listen, you got to earn your stripes, man. If you if you're still shooting, okay, from a goddamn Nokia phone, I don't even know if they had webcams on them things, but if you if you're you're highly pixelated, okay, and you still got a a DSL modem and you and and you're reporting live from Grandma's studio, I can understand that. I can understand skipping that show. When you're talking about shows that are sponsored, been around, have an audience that you oh, hold on. President Trump. [Donald Trump] [23:09] President Trump speaking. Let's go let's go to President Trump. He's mad. You like him? Huh? Nice to see you. Okay, thank you very much, everybody. Appreciate it. This is so big and so important and there's never been anything like it. So we have a thing that we're going to be doing. JD and the untouchables behind me are they've done an incredible job. They've sought out and found tremendous amounts of fraud in various states and it's uh nothing by comparison to what they're looking at. They have things happening that are seriously big numbers, but we're going to be offering incentives to people for reporting it. And we'll cover that in a second. I just want to say that from day one of my administration, we've waged an unprecedented war on corruption and fraud and will not let our country be looted and plundered by thieves and pirates and foreign fraudsters and basically scum. Today, I'm pleased to welcome to the White House somebody that I've been hearing about, met quickly, but I tell you I'd give him a big hug today. He's done an amazing job. Nick Shirley. So thank you, Nick, very much. What a job you've done as a young guy. A very young guy. He got it very early. And uh, it's too bad that you had to ruin your youth to find that such bad people exist, but welcome to the world. I also want to thank the head of the White House Task Force to eliminate fraud, Vice President JD Vance, who's been amazing. He's done a fantastic job. Along with FTC Chairman Task Force Vice Chair Andrew Ferguson. Great job, Andrew. Proud of you. Administrator of the Centers for Medicare and Medicaid Services, Dr. Memet Oz. Thank you, Oz. And Homeland Security Advisor Stephen Miller. Stephen. As many of you know, Nick has been at the forefront of the battle to stop the the horrible plague that's happened within our country. And there's never been anything like it. What's happened and it it's that look, it's been going on for a long time, but in the Biden administration, it was sick. Nick uses popular YouTube channel to reveal that the Somali community, the lovely community from Somalia, lovely country, in Minneapolis, Minnesota was stealing billions and billions of dollars taxpayer money through fraudulent childcare centers and other scams including the infamous quality leering centers, the leering. Remember the leering? They meant learning, but they weren't able to spell the right. They were teaching people what they couldn't spell their name. The leering center. And did you notice that? I mean, is that did that get your attention when you saw leering? [Guest: Nick] [26:08] Yeah, I couldn't believe it when I saw it. [Donald Trump] [26:10] It was the beginning. [Guest: Nick] [26:11] It was the beginning.

[Part 6 of 10] [00:00] not a good, that was not good for them when they put that sign up. Partially as a result of Nick's work since I took office, 115 Minnesota fraudsters have been arrested and charged. And by the way, the governor's 100% guilty. He's 100% guilty. He's a fraud, he's a thief, he's a crook, and he's getting away by just getting out of office. He's getting away, but maybe they have, he knew everything that was happening. The Attorney General, that guy is a total thief. And, uh, and it's a shame that they can just go and retire because he knew what was happening. I'm sure he's very, very happy monetarily. But the governor, he's a crooked guy because nobody can be that, that lucky to, I mean, when you look at all of that money and he knew nothing about it, all of the billions and billions of dollars that everybody was scamming. They all knew, and little, little congresswoman, lovely little woman she is, she knew, they all knew. They're all scammers and thieves and so bad for our country. But 75 have been convicted and over 2,700 subpoenas have been issued and by the way, your lieutenant governor knew all about it. I saw her the other night, oh, I didn't know the governor knew. She didn't know anything. She knew nothing. If she knew so little, she shouldn't be governor. They should elect a very talented Republican who happens to be running. But the lieutenant governor knew everything. And she's a liar. Similar scams have been uncovered in Maine and California and many other mostly Democrat run states. And it's in Republican areas too, but it seems to be tremendously less. But the, these, I mean California's a disaster. Minnesota, Maine, it's hard to believe. So bad, it's like nobody can believe the level. It's sort of like JD said it to me, shooting fish in a barrel. There's so much, it's they had no idea. And they had no idea it could be so thick. Nick's work to stop taxpayers from being ripped off is a direct threat to the radical left's effort to turn America into a third world country ruled by people who hate America. Now, it's a scam, it's a giant scam. That's why California recently passed to stop Nick Shirley Act, an outrageous attempt to crush free speech and to stop the corruption from being exposed. So today, I'm thrilled to announce the fraud whistleblower incentive program. Fraud whistleblower incentive program. And, uh, mark those words, independent journalists and everybody and all Americans will now be able to go to the fraud.gov and report cases of corruption and theft of taxpayer dollars in their communities, all via a new website created by Joe Gebbia, who's fantastic, by the way, and the team at the National Design Studio. Everything Joe's done has been a big success for us. So here's what we're going to be doing. Anybody that can prove that he turned somebody in, in other words, he or she, if you turn somebody in and you, let's say, report and you find a billion dollars, we are giving a commission to that person of 1%. It's a lot of money. And if it's 10 billion, 200 billion, 400 billion, uh, we're giving a 1% commission to that person. You have to prove that you were the one and prove that it was you. And I don't know if you can do this, but subject to the laws of our nation, which I feel very strongly about, if a reporter turns somebody in, you have to get approval, perhaps from your wonderful newspaper. But if you turn somebody in, you get a 1% commission. You may turn it down or you may say, I'm not going to be a reporter any longer. This is too easy. So if a reporter turns somebody in, we're going to continue the same 1%. So if somebody turns somebody in for a million dollars, but the million dollars is very small potatoes. You get a 1% commission. Subject to the rules of the nation, subject to all of the things. And we're going to let the reporters, uh, for the first time in many cases in your lives, you've done a good job. Some are very professional journalists, but it's not, uh, a very profitable thing to do, but it's a very important thing to do. Very few things are more important than good journalism. But we're going to, if they're allowed to do it, if you can get approval from your media outlet, whoever that may be, we're going to let the reporters partake because you know a lot of things that are happening, maybe in many cases more than most others. So I'm going to add into that group of people, reporters. So if anybody turns anybody in, a billion dollars, 5 billion dollars, 100 billion dollars, you get a 1% commission. And I think that will be amazing because the kind of money that's been stolen is trillions from this country by crooked politicians that made things and set things up, crooked attorney generals like we have in New York, like we have in Minnesota, like we have, I can name all of them. I can name all of them pretty much. This new incentive program will help expand the anti-fraud and corruption efforts of JD and his people. And they really are, they are amazing people. Smart. It's it's incredible. Without any incentive, the kind of money that they've already found, billions and billions of dollars. And save American taxpayers, it'll save trillions. I believe trillions. So since I came into office, we've already uncovered $260 billion of fraud. And that's peanuts compared to what the real number is. And by the and and when we talk, we're talking about Oz, we're talking about Medicare, Medicaid, all of the things that that you've uncovered so far and he's discovered billions, but that's a tiny fraction of what the real number is. And I think with this incentive, people are going to say, wow, it's going to keep a lot of people honest, I can tell you that. So it's amazing. We've removed the names of 160,000 dead people from the list of food stamp recipients. These are people that died, some of them were quite old, actually, well over 100, many, many over 100. We kicked 275,000 illegal aliens off of social security and Frank has been amazing in social security, JD, I think. He's been fantastic, whatever he does. And eliminated $125 billion in Obamacare subsidies, which is a totally corrupt form of health care for foreign migrants. We uncovered 562,000 fraudulent small business loans. Think of it. 5 not 562,000, 562,000 fraudulent loans. And we cut off funding to hundreds of fake hospice facilities that stole an estimated $1.4 billion. And that number you can probably multiply it times 100. So now I'm going to ask JD to speak. JD Vance to speak. He's done a fantastic job as our vice president and now he's he's really into this because he sees what and you know, he sees what's happened, how sick it is. But the American public is not going to stand for it. So, uh, JD's going to be followed by Andrew Ferguson, Dr. Oz and Nick Shirley. I I just want to say that it's such an honor to do this and all of those people that are willing to do the right thing and turn people in that they know where there's been, uh, something that happened that they know all about. They're going to become rich. When you get 1% of a billion dollars, 1% of 100 billion dollars, it's it's going to be a tremendous amount of money. It's the largest commission ever paid, probably for anything anywhere. Because the numbers you're talking about are in the trillions. So JD, I'd like you to start and then, uh, the other group, I don't think I have to repeat the names. They're very well known, but they're going to go and, uh, JD's, uh, we're very proud, very proud of the fact that they found a lot, but that's peanuts compared to what we're going to find with this incentive or commission. Thank you very much. JD, go ahead. [09:09] Well, thank you, Mr. President. And, uh, just to give people some background here. This I actually came out of a conversation that I was having with the president. We were talking about the scale of fraud, and we were talking about ideas for how to enlist our fellow citizens to help us do the work of fighting the fraud. And the president said, well, do a commission, do an incentive program. Actually reward people when they help save the country, but also save the American taxpayer a lot of money, then they should get to share in the benefits that they've created. And I think it's an incredible testament to the president's direct involvement to that in this entire program, which brings me to my second point. A lot of people have asked me, why is the president's directive, why is the president's involvement in this so important? And I think Andrew and Ferguson and I have learned day-to-day that without actual coordination across the various arms of government, this work would not be possible. The fact that the president has empowered us, but also told all of the cabinet secretaries to do the work they need to do in order to coordinate because sometimes the fraud will touch seven different departments simultaneously, and you actually need presidential led directive in order to fight that fraud simultaneously. So, Mr. President, thank you. I do enjoy this work. I do think it's fun. I think it's most of all important for the American people, but it would not be possible if the president hadn't empowered his senior team to make it possible. And the final thing that I'll say here is we're we're actually thrilled to be joined by Nick Shirley, who as the president said, has done more than anybody that I've met recently as a citizen journalist to uncover the fraud. Nick is going to get a financial reward for doing so. I know that's not why he did it, but to Americans across the country, your tax dollars are being stolen. And your tax dollars are being stolen from programs that help feed the needy, that help ensure that a young mom who can't afford a doctor can get access to a doctor for her kids. It it steals from the very social fabric of the United States of America. The president has said, it must stop. It is stopping. And if you want to help us stop it, you get to share in the rewards now, thanks to what the President of the United States has done. So thank you, sir, and thanks to our amazing team for making it possible. [11:14] Thank you very much, JD. And just before we go, uh, I was just thinking, uh, when you do these things, sometimes there's a dispute as to who turned them in and who didn't turn them in and, uh, who's supposed to get what and when and, you know, if somebody else gave it and So, uh, I am going to do something which I think people will like. I will be the arbitrator of all of these decisions. In other words, I'll determine, uh, whether or not the person is deserving and I'll determine and I will be very generous, believe me. I'm we're not looking to we're not looking to save on that. But we, you know, you could have disputes where you have three people come in and they say, I'm going to make it, we're going to make it like a binding arbitration. I'll make the determination. I will be, I promise you, I'll be fair. And I'm not doing it for any other reasons other than to expedite, uh, because I think it's very important. But it'll be a binding arbitration. Uh, you'll get your money immediately, but I'll make the determination. So if two people are fighting over it, maybe they'll split it or maybe whatever, but I'll make that determination. It'll be done expeditiously and fairly. And, uh, we won't have long lines waiting or court cases or anything else. We'll have a binding arbitration. Does that sound good to you guys? [12:36] Yes, sir. [12:36] Does everybody trust me to do it? I promise, uh, there's nothing in this for me. That's only And I would like to have that handsome group of people come up here with us. Is that all right? All you guys, come on up here. [12:47] This is the fraud task force, sir. They're doing an amazing job. [12:49] They've done so great. Come on up here, fellas. Look at them. Young, handsome people. I've always hated young, handsome people. I've never liked them. Come on up. You got it? These people are outstanding. Uh, please. [13:06] Thank you, Mr. President. A lot of journalists in the room today. Everyone knew about the Quality Learning Center. They were cited hundreds of times over the course of a couple years. No one reported it. None of your outlets reported it. It took one brave kid and a camera to make everyone aware of this, and it launched a revolution. And President Trump did what only President Trump could have, which is turn the entire federal government coming up with new ways to stop this fraud everywhere in the federal government. This whistleblower incentive program is one example, but it's not all. He created the task force. He put the vice president in charge to sit above the entire rest of the government and direct the government's actions on this. We created the National Fraud Division at DOJ, led by Colin McDonald, who's done a wonderful job. They've already been getting huge results for the American people. Just yesterday, they filed to seize half a city block in Minneapolis, Minnesota, with property that had been obtained with snap dollars that should have gone to hungry Minnesotans and was instead used to buy illegally and fraudulently property in Minneapolis. DOJ, led by Todd Blanche, Colin McDonald, Trent McCotter, have been going after these fraudsters night and day. Kash Patel has been chasing them to every corner of the globe. You can run, you can't hide. We're going to get you. And President Trump has proposed two super important pieces of legislation. The first one is mandatory minimums for everyone who commits benefits fraud. Right now, judges are routinely giving slaps on the wrist to people who commit what they consider low-level fraud. That can't continue. If you steal from the American people, you should go to jail, and it shouldn't be up to a district judge to decide whether the fraud is bad enough. President Trump has proposed that Congress pass mandatory minimums today so that everyone who commits fraud that DOJ finds goes to jail. And the second thing is for state officials who knew about fraud in their states, like in Minnesota, and did nothing, they ought to face liability for this. It can't be that they can preside over the wanton theft from their citizens, the destruction of these important benefits programs going to fraudsters rather than to needy people. So President Trump has also proposed that Congress pass a law that imposes civil liability on state officials who failed to stop fraud that they could have stopped. This is revolutionary, just like the fraud task force. It would supercharge our fraud experts, and I think it is a brilliant move. [15:26] And by the way, congressional Democrats have fought that every step of the way, and congressional Republicans have supported it, so remember that in a couple weeks. [15:34] You would say, how can you fight that? [15:35] Yes, sir. [15:36] What's the fight? Uh, Oz, please, go ahead. [15:39] Mr. President, and Vice President, thanks to the anti-fraud task force, we've broken down all the silos, which has helped CMS, Medicare, Medicaid a lot, because often times the ability to pursue cases depends on our ability to get DOJ involved, but also our ability to get Treasury involved to follow where the money's hiding. It's not just a criminal in front of you that Nick saw, it's also the people behind them who are making the big dollars. And what we have found is our biggest allies actually are people in those businesses who know that wrong is being done. They know where the red flags are. They can point them out to us, and that actually leads us directly on a trail of success with the many different fraudsters we've been able to take out. Now, the devastating blow to fraud that is being levered right now into even bigger actions is not done yet. We have at least two more years of hard work to do on this. But Nick, thanks to you and other citizen journalists, advocates, folks who want to step out and make it make some news happen that allows us to understand what people on the ground are saying, we're tipped off to big problems. Take Minnesota as an example. I'll just pick one case because I think it's a good reflection of the real damage of fraud. Mr. President, fraud doesn't just steal our money. Fraud steals people's lives and it also steals our trust as a nation. And that is devastating to any country. So when Nick showed us that, for example, autism services, which were supposed to be a billion dollars, had now gotten to be $400 billion. And the reason was that people were getting bribed, moms were getting bribed, $1,500 a kid to lie that their child had autism. That has two problems. One, the kid now falsely has a diagnosis that's not right, which saddles them with an unfortunate future. And you also have moms who need the help for their kids who have autism to not be able to afford it. So let's fast forward what this meant. We after hearing Nick's work and pursuing it as well, starting at the end of last year, we were able to identify that about a third of all the providers in the 14 high-risk areas in Minnesota were not validatable. They weren't legitimately able to produce the results that you would want to give to a patient. One in three shouldn't have been doing that job. We are now pursuing dozens of cases against those folks, including criminal investigations. We also deferred a half a billion dollars so far from Minnesota in those 14 categories because we don't think they can justify those expenses. And Mr. President, that teaches people that they actually have to send real bills and they can't make them up. Now, fraud in Minnesota rhymes with fraud in California, where Nick went next. And in California, the the Stop Nick Shirley Act, uh, has, um, been passed, but we think it's going to fail because I'll make this announcement today on behalf of, um, Secretary Kennedy, Health and Human Services, that we are going to defer 1.2 billion more dollars from California today. They just got the note, and we're doing that because the growth of personal care services in California, just that one little area, where you're paying someone to carry groceries upstairs for your mom, which many of you would carry groceries upstairs for your mom for free, I would think. But in California, they'll pay you a lot of money for it, and it's actually run by the counties. But California has been growing that program 24% in the last three years. That is twice the rate of every other state average in the country. Impossible for us to understand how that could be so. Uh, so we're taking major action in California again, $1.2 billion deferred, uh, in their Medicaid payments, directed to personal care services. And Nick, you and I went to Queens, New York, earlier this year. Nick has a unique ability, Mr. President, to walk into a room and ask piercing questions, undaunted by people's inability to answer or things like, why are we paying you to play Majong in a in a senior center? Isn't that something you again would do for free? Uh, where I was in New York this morning, the same place that we went, it was the largest enforcement action of its kind. You'll hear much more about it later this week. But task force is going on all cylinders, and I'll speak as representative of Secretary Kennedy in health, we can't do it without the task force, Mr. President. And JD, what you have been able to do and the rest of the team is unbelievable. Uh, it is remarkable when you get Andrew and Colin and others, even in the room, and actually push for one single solution. All of a sudden, the the the usual walls between the the siloed institutions of government break down and we make change happen. We just need a little more time, sir. Get it done. [19:46] Great, great job. Thank you, uh, as always. Nick, please. [19:50] Yeah, first off, it's such an honor to be here, and I want people to think about what is happening right now. [19:54] Very cool place. [19:55] Very cool place. The Oval Office. Me as a 24-year-old, I went out and exposed the fraud. I just was concerned about the well-being of our tax dollars. And right now, I'm standing next to the President of the United States as now people who expose fraud, there's never been an incentive for anyone to ever expose fraud. In fact, when I exposed fraud, instead of the mainstream media investigating the fraud, they investigated me. And uh, people actually, in fact, wanted to kill me after I exposed the fraud. Uh, because there's actually never [20:22] Were you surprised by that, Nick? [20:23] I was very surprised. [20:25] They went after you instead of the fraudsters. [20:27] They called the learning center. [20:28] I'm not surprised. [20:29] And asked the learning center if they were committing fraud. That was the extent of their reporting. And uh, but now, finally, people have an incentive to actually go out and expose fraud. And when you expose fraud, it helps save America. People understand that. These fraudsters take from the poor and needy who actually need the services that we all work hard to pay for. And we take that and they then buy Mercedes. They then send that money overseas. But now, for the first time ever, there'll be an incentive for people to actually go out and make that change inside their own community. So, I hope by today, uh, millions of people are empowered inside of the United States to go out and actually make a change inside your own community. And you'll actually be rewarded for uh, saving America money. When you save, when you expose fraud, you help save America. [21:12] Great, great job. [21:13] So proud of you, Nick. [21:13] Thank you. [21:14] Thank you. [21:15] How about you two guys say something? Two stars, two of our big stars. [21:19] I'll let you go first, Colin. I'll go. [21:21] Go ahead, Colin. [21:22] Well, Mr. President, there is upwards of $800 billion of taxpayer money that is stolen by fraudsters, many of whom are nameless fraudsters from even overseas locations who have targeted the American taxpayer benefit program as the softest target for fraud. This is a first order crisis. That amount of money could pay the entire budget of the $110,000 DOJ workforce 13 times over. If fraud were its own department, it would be one of the most expensive departments in the entire federal government. This is something that we have to stop, and the team that you've assembled [21:59] It could also balance the budget. These are the numbers you're talking. A little bit more than that, you balance the budget. [22:07] Correct, Mr. President. So we, your your the team that you have assembled is laser focused on saving the money of the American taxpayer, including using innovative tools like the one that you've announced today. And as Mr. Ferguson Ferguson said, today, we have filed a complaint in Minnesota seeking to seize half a block of property that was funded by fraud proceeds meant to serve our hungry children in Minnesota. It instead went to the fraudsters to buy property. We are on the ground in Minnesota. We have filed a civil forfeiture complaint to take back that property for the American people. [22:45] Thank you. Great job you're doing. Appreciate it. Really great. [22:49] Steve. [22:49] Thank you, sir. Thank you, Mr. President. Thank you, Mr. Vice President. Thank you to the esteemed and distinguished members of the task force. Mainly, I just want to say thank you, Mr. President, because this only happens because of you. You're the only reason we're here today. We're you're the only reason that we've already recovered a quarter of a trillion dollars on our way to a trillion dollars, then who knows from from a trillion where we get to. As the president says, it's enough to balance the budget. The main thing I want the American people to know is that if you're a middle-class taxpayer in this country, before President Trump came along, you spent half your working life paying for fraudsters and scammers, many of whom are refugees, illegal aliens, and foreigners who came to this country to loot and plunder us. So think about that. Before President Trump came along, you went to work every day, you worked in an office or a construction site or as an electrician or as an accountant, whatever your career was. And you worked every single day to provide for yourself, your family, your loved ones, to send your tax dollars to the State of California, to the federal government to do what? To pay for people that are robbing us blind, that are looting us, pillaging us, plundering us. People like Nick exposed, they came here from Somalia, been living here for a year or two. They say, I'm going to open up a fake daycare. I'll tell Keith Ellison, I'll tell Governor Walls, I'm taking care of 200 kids. Send me a check for $30 million. What do they do? They buy Mercedes, they buy BMWs, they buy a mansion, they buy a nice house. All their kids fly first class all over the world. They are living the high life. Well, you, the American citizen, who's worked your entire life and done it the right way, you paid every parking ticket you ever had. Are funding that lifestyle. That's what the Democrat Party did to you. And their plan is they want to bring in another 10, 20, 30 million more people to loot you and rob you and take everything you have. President Trump is the one leader in American history who stood up and said, this isn't going to happen anymore. We're going to protect our taxpayers, we're going to protect our citizens. The looting will stop, the pillaging will stop, the robbing will stop, and it's actually happening. And I as a citizen, not just as a staffer, but as a citizen, am endlessly grateful to this president for having the courage to do what no American president has ever done before. Thank you, sir. [25:13] Thank you very much, Steve. Are you guys all set over here? Anybody want to say anything? Young, brilliant people. Anybody want to say anything? You don't have to. All right. I think you're doing the right thing. Your boss will be very angry. Any questions? [25:28] Yes, I'm Fred. Could the amount of fraud that you have saved or are saving the American people, as well as the government waste you're cutting, could that make a difference with the deficit next year? [25:41] Absolutely. Big a tremendous difference. Yeah. We're looking at it very closely, the deficit. And you know, I'm cutting back the deficit with these countries where we do business and we have deficits with almost everybody. Canada, $90 billion. Mexico, $175 billion. Uh, European Union, uh, $225 billion. We'll, uh, we're cutting them way back to, uh, the old days. But you know what the old days were? About like

[Part 7 of 10]

[Part 8 of 10] [00:00] today. They burned down to the ground, boy. It's tragic, tragic sight. Now, these are people that hate France, but they've been let in. They hate France, but they've been let in and you have to get them out. If you don't get them out, you're not going to have a France. Please. For the vice president of Andrew Ferguson back on the incentives and the rewards, is it 1% up to a $30,000 limit or is it unlimited? No. You go ahead. It's 1%. There's no limit. criminal charges before someone's going to be able to get this incentive money. No, I don't think so. That's the answer. I quit I quit while I'm ahead, Jen. No, I just wanted to, you know, I didn't want to have you say, oh, we disagree on something because we disagree on almost nothing, believe it or not. It is rather hard to believe. But I figured if I answered it quickly, I'll make sure it's. We don't have a problem. No, no, it's not a criminal thing. It's it's we hope that they go to jail. No, if we recover the money, uh that's what it is. You get 1%. And that includes you. Go ahead, JD. That's it, sir. That our plan is not to limit this just to criminal prosecutions. It says the president said, if you find the money and you help us recover it, then you benefit from the program. We're going to make it very easy and very quick and people can make a lot of money. But they the only thing is we want to make sure they're the people that turned up. President Trump, can you fill us in on what Secretary spoke about with Prime Minister? I can't do that now. Mr. President, Nick Shirley over here. I love Salem though. I let him go. I do like Salem. Salem is good. Go ahead. Sounds like a trade deal with India is close. Can you go into that? They want to make a deal. We're going to make a deal. pretty close, yeah. That's going to be a much different kind of a deal that we've made. President Trump, program, sir, if I may. Do you expect the phone to ring off the hook as it were? About what? on a fraud program. I think it's going to ring off the hook, yeah. And is there enough money? Is 25 million there to you know, for reward money? Is that I think it's tremendous. I mean, if you look at it, I was thinking about it, do we do 5%, 4%? Then when you start looking at the kind of numbers you're talking about, people will make millions of dollars by turning others in. Well, you could be we want to protect the people if they want to be protected. President, if there is a problem with Omar's aid. [02:37] Could she be deported? [02:38] Oh, she could be. She could also go to about deportation. No, she could go to jail. Uh, this is just my opinion. I think she's a sick, a very dishonest person. But, uh, who hates our country. And she comes from a country that is essentially not even a country, Somalia. It's a real shithouse, okay? It's got no government. It's got no police protect. All they do is have people running around shooting each other. Then she comes over here and she's a and she wants to tell us how to run America. She wants to tell us how to run the United States of America. And she'll say, I have constitutional rights. And, uh, she never heard the word con. She never saw that before, see that? She never saw that before, but she says she has rights. Uh, she's a disgrace to our country. And it's amazing that she can get elected, but Somalis vote for her, you know, Somalis vote for her. Most of them shouldn't be here. Do you know they have like a 98% unemployment rate? They don't work. 98%. It's a disgrace. It's a disgrace. And they've ruined a great state. You know, you have a a great state. I remember Minnesota in the old days, what a beautiful, what a beautiful with lakes all over the place, more lakes than any place I've ever seen. So beautiful. They're destroying it, probably, maybe they've destroyed it. And I only hope a Republican woman who happens to be very respected by everybody gets in because you will see a difference. But I I will say this, uh, I hope they treat her fairly. But I think she's a very dishonest person. President, Mr. President, Mr. President, a new in the new Fox News power rankings, it shows that less than a quarter of rural voters are happy with the state of the economy. Are you concerned about these people? No, because as soon as the war is over, it's going to end very soon. The Iran war, I have no choice. You you can't let them out. It's the number one state sponsor of terror. As soon as that war is over, uh, oil is going to drop like a rock. And that's the only thing holding it back. Now, we have tremendous support. You know, when people are unhappy with the gasoline, I hate to sound trivial, but, uh, they say it themselves. It's a it's a big price, but actually it's a small price to pay for not letting Iran have a nuclear weapon. And they will never have a nuclear weapon. That's already We could leave right now and we would have done a good job, a great job. Uh, that that beautiful plane right there took them out. But it's under hundreds of tons of rock. But it's not good enough for me. We have to make sure it doesn't happen in five years, six years, 10 years. And that's what's going to happen. So, it really is, it's a very small price to pay for not letting the most dangerous country in the world have a nuclear weapon. President, you own a lot of golf. Wait, wait. Quiet. Quiet. What's wrong with you? Are you a sick person? Not that I know of, sir. Mr. President, on the Mr. President. No, I think this I actually think there's something wrong with you. Go ahead. President, um, since we have the vice president here, the vice president said in an interview yesterday that he thought that you would endorse him if he does decide to run in 2028. Since we're here, uh, could you tell us I'll tell you this. He's a very talented person and he's a very good person, but we've literally, I don't think we've ever talked about it. Yes, sir. I said that too. I don't think we've ever, you know, who would believe that? I don't talk about it with them. It's early. We are very early right now. We have to get through the midterms. We'll see how it goes. I'm going to a rally in North Carolina. We had an amazing rally last night, Kansas for a tremendous a tremendous person, a number of great people, but, uh, in particular a senator who's done a fantastic job, as you know, Roger. And, uh, I think Roger Marshall was helped a lot last night when we had that I think it was it really took him to a very high level, which whereas where he should be. But, uh, I've done a lot of rallies in the last week. And I guess we're up to 10 or 11. And it's not easy to stand up there for two hours, ranting, raving. You have the crowds, but there's a lot of love in those rooms. And I think it's made a big difference. It's made a the Republican Party is got tremendous spirit. Tremendous spirit, tremendous love. And, uh, I'm going to be going for another one. I'll be going also to Ohio where our candidate who turned out to be a great football player that a lot of people I mean, a great player, not a good player, a great player. But he's a humble man and he didn't brag about it. I would have been bragging like hell about it. I would have said, I'm an all-American. I ripped their heads off people. You know, John Gruden is a fantastic guy, great coach, and he was a very good college player. He said that, uh, he was up to be with his friend. He said, what are you doing here? And he was saying how, and this is our candidate who nobody, I guess actually people from Ohio, a small group of sports, big sports fans knew. But we we found out about the real man and and, uh, you probably saw the polls. He's now leading and he was down by, uh, [09:26] uh, great. And that is always wonderful. That they've come back to the show muted. That's right. I just wanted to say that we are back here now. Obviously, we watched Donald Trump talk for I think more than an hour. Um, Donald Trump will be going after people that are committing fraud, uh, abusing programs that the United States citizen pays for. Uh, he had Nick Shirley there, the vice president was there. Uh, JD Vance, obviously. You had uh, Stephen Miller there. Uh, I think Dr. Oz was there as well. You had somebody from the DOJ is there that that was there. They're all talking about all the fraud that is happening in the United States of America and how they're going to tackle it and that there will be a program, a $25 million program uh, for whistleblowers. Um, so if you see something, you'll be saying something because there's millions of dollars on the line. Um, and they're talking about how much fraud is being committed in in California and the Nick Shirley Act that the governor of California Newsom has pushed forward uh, to stop Nick Shirley from recording or looking for uh, fraudulent acts happening in that state. So, a lot of these things were talked about. The press asked um, Donald Trump whether or not he would endorse Vice President JD Vance and he said, me and JD, we don't even talk about that. We haven't even spoke about that. He said that they're focused on right now making sure that the Republican Party holds the House and the Senate. He says if the Democrats do take over that it will be the end of America. Essentially, that's that's kind of like the vibe that he's putting out here. Uh, and that the things that we're seeing right now in France and Italy, that will come over to the United States of America. And again, that is why he is putting his own money on the line, which I'll read again, uh, again, breaking President Trump announces he'll personally spending over $400 million for the Republicans by election day 2026, especially after witnessing what has taken place in France and other locations throughout Europe. Uh, he said, I quote, I have spent and will be spending over $400 million by election day. More than $300 million has already been spent on advertising, direct and indirect voter uh, contact, rallies, rally arenas, uh, get out the vote programs, election integrity and more. It is my great honor to do so on behalf of the Republican Party, which has done so much to bring our country back from the edge of oblivion. Make America great again. President Donald J. Trump, he's putting out, he's pushing, he's putting his own money on the line to make sure that the United States of America in his words is still around and does not turn into what France is right now. Um, we talked a lot. We had a lot of good conversations today. We talked about crypto. I talked about Bitcoin and where it stands. We had guests on today. We had George from Zero um, Zero G Labs on, excuse me. Sorry, I had to listen to the speech, man. Respectfully, I respect Trump, but the speech, goddamn. Um, also we had Will uh, Reeves from Bold on to talk about his uh, obviously his product, talked about Bitcoin. I've talked about Bitcoin and said that I'd like to see a pullback. Yes, I'd like to see uh, you know, Bitcoin pull back and if Bitcoin pulls back, obviously we'll have a lot of other things that will pull back. And it's an opportunity to get more and acquire more. That's all I've been doing for years upon years is acquiring and just holding. Because we have that privilege, right? We have that If you have a job, if you work, you have the privilege of saving up these assets, saving Bitcoin, accumulating Bitcoin, accumulating Solana and Ethereum and other things. You have the privilege of doing these things in the United States of America, so you take advantage of that. While you work. It's the same thing that I said, if you have a if you have a job right now and only have $400 to your name, you should not be quitting your job and jumping in to crypto. Okay, a lot of people for some reason think this a get quick rich type of scheme and it's not. This is real money. This is real money. Bitcoin is real money. And if you're here, you should be learning why you're here. Kind of like sitting back and understanding why others have come here. Realizing that the reason why we're here, the reason why we took Satoshi's white paper seriously, the Bitcoin white paper seriously that Satoshi wrote, is because you look at the monetary system, it's completely broken. You have a completely broken monetary system that does not help you in any single way. You know, we talk about America being the land of opportunity and I agree with that. I think America is the land of opportunity. But to a certain point. But now it's different. Also, I talked about how Ibit, Black Rock's Ibit, $660 million injected into the markets today, but Bitcoin didn't move much. That's okay because you have people who got in higher that are selling out because, you know what? They don't understand Bitcoin still. Their their advisors can't explain Bitcoin to them. That's why I said this is it's it's so important for people like myself and others that do this every single day that have shows like this. We we are the new voice we are the new voice for finance. Make no doubt about that. We are the new voice for finance. We know how to explain Bitcoin. We know how to explain crypto. Crypto, which is not a bad word, by the way, because everybody's trying to jump into crypto. Years ago, people were running away from crypto and talking shit about crypto. Now you have major companies that are jumping into crypto, trying to figure out how they can onboard themselves into crypto. Just look at JP Morgan. JP Morgan, Jamie Diamond would come out every single time he had the opportunity to speak with mainstream media and say what kind of garbage Bitcoin is, what kind of garbage crypto is. And now the JP Morgan coin is not only on base, which it was created on base, but it's also on Ethereum. They're going to use Ethereum and base for peer-to-peer transactions. We can go I I I dove a bit deeper into that yesterday. If you want, you can replay the show. It was episode 807. But now you have people running, okay? Running to crypto because they understand the opportunity that's here. So, yeah, at this current point and in this current juncture, I think you have midterms that are playing a big factor here. Midterms, people are just waiting to see what happens. You obviously have the war going on in Iran. People want to see that come to an end. You still obviously have the Ukraine versus Russia, you know, war going on there. So there I I think two out of three though, I think, you know, I the war in Iran being resolved and midterms, we shall see what happens. We shall see what happens um, with the economy. I mean, the the stock market is doing fine. Uh, traditional markets are fine. Crypto's still a baby and I think that's what people need to understand. But also at the same time, I want to point out that we here in cryptoland, we here in cryptoland, in this crypto ecosystem, you know, I I watch a bunch of people, you know, you guys tag me, you contact me, you send me DMs. I don't reply, but I read them at times. Uh, when I have the chance. And you're shilling me, you're shilling me tokens. You guys are out there on the timeline shilling you tokens every five minutes. And I'm going to have to repeat this to you guys again. There is no liquidity here right now. That might be bullish sentiment, but I got to tell you there is a different type of sentiment that I'm starting to see and that is people are worn out. People are so tired of chasing. They really are. They just want to stick to one thing. Most people just want to get into one asset or maybe two, three or four. What I'm saying is, nobody wants to chase 17 different things that are coming off of a launch pad. Okay? People don't mind getting into 20, 30 assets. Nobody, I don't think anybody minds getting into 20 to 30 digital assets. I think where people are getting tired is that they're chasing 20 to 30 different assets a day. And they're exhausted. You can you can actually feel it. I can feel it while I like I while I read the timeline. Like people are people are frustrated. You can even see it. holders are frustrated. But holders shouldn't be frustrated. Number one, you wouldn't be frustrated if you do have the major blue chips in the crypto ecosystem. So if you have Bitcoin, you're not frustrated. If you've accumulated Bitcoin, you're not frustrated. If you've been accumulating Ethereum, you're not frustrated. Solana, the same thing. I could keep going with the privacy sector and whatnot. But you're not frustrated. You're frustrated if you took a a huge gamble by not going in, by not going into the real assets, okay? And you just placed your bets on memes, which is ridiculous. How you could not build a a foundation within your ports is crazy. I don't know who gave you advice. You know, and that's the problem. You shouldn't be listening to anybody because I'm going to cash here cash myself here. But when you hear people talking that have been here for a while or they've participated in all markets. You should be focused on making sure that you can build out a foundation before you can take flyers on things. But you haven't done that. You've listened to a bunch of people who you can't even see their face, they're not docs, they're just talking out of their asses. They're probably not even holding anything. And you went in. Everybody else is to blame but yourself. Everybody else is to blame but you. And now you have AI and obviously AI is popping off. I wrote a book, obviously, on AI. You can go ahead and get it on Amazon. I'll I'll be putting the link out there. The million dollar AI playbook. For beginners, really. It's really for beginners. You know, I sat with somebody and they asked me a question and I said, AI is going to produce more millionaires in the next three to four years than the internet did in the last 20, 25, whatever it's been. More than crypto has. You're talking about being able to have or to be hands-on on technology that absolutely can help current businesses level up. So, again, like there are there are opportunities for a lot Like you are living in a time where crypto money, crypto, the way we transact, that's shifting. We're going full digital. We've been digital, but you get what I'm saying. We're going full permissionless digital. Okay, so here we come. And then you have AI and you have two behemoths. And you're here. So there's no excuse. There's no, oh, I didn't have a chance because of my nationality, because of my color. None of that flies anymore. I'll give you a perfect example. You are rocking a goddamn NFT of a donkey. Nobody knows what you are. So for you to say and blame it on your race, on your nationality, it's an excuse of where you grew up. You don't have access. You have access. You have as much access as the next guy. So if you really want it, you can achieve it. It's really up to you to decide if you really, really, really want to be the first millionaire in your family. That's it. Tools are there. Books are there. You have everything. Everything at your disposal. It's whether or not you're going to use it. That's it. That is it. And it's really that simple. It is really that simple. It's not really complicated. I I honestly don't think it's really complicated now, more than ever, to execute on your plans. It really becomes about, are you really driven to win? If you're not driven, and I don't want to use this word because I hate this word motivated. But if you're not determined to win, you won't. If you haven't changed your vocabulary after my multiple speeches, you won't win. It gets hard, you keep going. It it's really that simple. You guys woke away when it gets hard. You don't see the numbers right away. It gets hard. Let me tell you something right now. I've made a complete switch of my brain. I might be committing career suicide. I have just absolutely made a complete switch to go onto YouTube full-time, Instagram full-time, and TikTok, fighting all the censorship on TikTok full-time. I I didn't need to do that. I could have just stayed on X. I could have just stayed on X and didn't and and just enjoyed the viewership that I have there. No, no, no, no, no. Right now, I have people not in one position. In terms of, I don't have people in one spot. I got people going on YouTube, Kick, Rumble, X. Like everybody's all over the place. And I'm fine with that. Because in order to grow, you need to be everywhere. You need to be on the real, first of all, I do videos, right? I I come on here every single day, microphone in my face, camera right there, and I'm doing breaking down the news. I'm sitting here with great, great people to talk about AI with or crypto with. I need to make sure that I am on these video platforms that are 100x what X is.

[Part 9 of 10] [00:00] And that's respectfully I'm saying that. I love Twitter. I really do. I think Twitter is great. I'm I'm I'm happy for Elon. I'm a little bit confused though with the way that, you know, Twitter operates. And I think I'm not the only one who has voiced this. I haven't even got let's let's even go further than this. I'm paying $2,000 a month on Twitter for the verified organizations, for my blue checks and all this stuff, okay? I still haven't even gotten the the video creators option or creators, some whatever that is, where for the next 30 days they'll pay you a $5,000, $10,000 for producing videos. I haven't even got that. I've seen people get it that don't produce videos. So I'm I'm absolutely confused. And I'm paying, so what I'm what I'm trying to get at, God bless, you know, again, God bless Twitter. They got to do their own thing. They see content creators differently, I guess. I don't know. I was a part of all the beta programs that they had where we would test spaces and all these new features. Maybe I fell out. I I don't know. Maybe because I'm voicing my opinion about the algorithm not being right. I don't know. But that means, hey, man, you got to go start Instagramming. You got to Tik Toking. You got to start doing the goddamn Renegade. Okay? You got to YouTube your ass. Again, could be career suicide. Could absolutely be the worst decision that I ever make. But I know that in order for me to go to the next level, I need to do certain things and make certain adjustments on the fly. Shout out to everybody that does tune in. Shout out to everybody who does catch the you know, tunes in, replays the show. Shout out to the people that tune into Apple Podcast, Spotify, I Heart, Amazon. There's one thing that's cooking right now. Okay? One thing that is cooking right now. There are a few things that I'm working on. Obviously, dropped the book. Also, if you want to get in contact with me, you can do it through intros. Go to davidgokhshtein.com. From now on, that's how I'm playing it. If you want to go ahead and have a conversation with me, you do it through intros. It's on my website. You go to davidgokhshtein.com and that's where you can find it. At the end of the day, at the end of the day, sometimes you need to and this is what I like I'm saying even people like myself. You might look at me differently, oh, he has a brand like it's easier. No, no, no, it's not easier. It's not easier when you're reinventing yourself and you have to constantly reinvent yourself. Bottom line, not not change yourself, reinvent yourself. Adjust. Never go away from plan A, but just adjust, make you got you got to make adjustments in order to continue to win. That goes for crypto, that goes for AI, that goes for anything. That goes for life, you got to make adjustments. You're working out, you got to make an adjustment. Anybody who works out, you know what I'm talking about? You got to make an adjustment. You feel a little bit, man, I don't know. I I got I got the drive to go to the gym, but I don't know if I can do, you know, four sets of 15. Maybe I got to do four sets of 12 today and that's not me giving up. That's me saying, you know what? I will gas out at the gym, but that's all I got for today. I'm not saying you don't attempt, you know, four four sets of 15. I'm not saying that. I'm just saying, hey, in your mind and that also can be a thing like don't don't set your mind for that, but I'm saying if you can't, then this is what you'll do today. You know, maybe you didn't sleep well. Maybe you didn't sleep enough. Maybe you're tired from work. There's always adjustments made. So you don't rip things, okay? You don't want to rip a ligament and be out. That's one thing that I learned in training. You don't want to you don't want to overdo and then rip your hypothetically your ACL or your UCL, just rip a ligament. And now you're sidelined for six months because you wanted to showcase how crazy you are. No, no, no, no, you should know your limits. My mind, kind of like Thomas Shelby, I have no limitations. I always think about that phrase, like I have no limitations. But you have to make sure that you don't go ahead and tear something just to go ahead and prove a point that's pointless. Um, and again, I say right now what I'm feeling from from the current ecosystem in crypto is I I I feel that a lot of people are absolutely drained. And when that happens, I think you should start looking at projects that are really building out and trying to deliver. That that's where you're either don't do anything because I I I told you for the last few days, I haven't been trading. I'm sitting back and I'm watching and observing and I'm seeing like if there is something that I feel might be oversold, it drops in price. Maybe I'll go in, but I'm not going into any of these things that are coming off these launch pads, 95 million fucking tokens. None of these things make fucking sense. You don't need 90 6,000 fucking launch pads. Okay? You you just don't need I I think at that at this point the the the all the saturation of fucking tokens, the limited amount of liquidity is really showing. Now, that's not to say liquidity is coming, by the way. I want to say this, in the next few months, we will see liquidity pour into this space. This but they will go into projects that mean something. I mean, we had the we had the president of Filecoin on. You'll see people going to Filecoin because it makes sense. Decentralized storage, storage makes sense. Storage makes sense for AI companies. They're looking for storage. At some point, they need more storage. They'll look towards Filecoin, maybe. Who knows? You need privacy. Right? Privacy protocols are necessary. You got four. You even say five or six that are good good protocols to take shots on. Again, it it's time for you guys if you have the liquidity, if you have the money, stop chasing and start looking. I mean, even like I I'll even show you we were looking at it today on FOMO. Even Ansem's token is at 89 million. That tells you pretty much the state of your current environment. People are tired. And I'm going to repeat that. People are exhausted. Crypto was never about chasing every five minutes the next one. Like that wasn't what crypto was that that's not what it's about. That's not what the thesis of crypto is about. If you read the thesis on crypto, that's not it's not gambling. People could say you're gambling with your That's taking a gamble on this industry. But not gambling like you're at an OTB or at the local bodega store, you're playing numbers, New York lottery. Like that's not that's not crypto. It's not horse betting. It's not going to the casino and playing craps. Like this is not blackjack or, you know, Texas Hold'em. Like this is none of that. But it's turned into that. Maybe right now, maybe right now the silence is necessary. Maybe just maybe the silence is necessary. You know? If you guys are willing to wait six to eight months and you go into something that's worth it, I am telling you right now, you have a better chance of absolutely changing the the changing the route that your bloodline heads into. Than just chasing. That that that is the biggest problem that we have in crypto is that we continue to fucking chase. Why are you chasing? You know, if chasing money is a horrible idea. Chasing money is a terrible idea. You'll wind up broke. This entire space, except for a few, chase, chase, and chase. Which leads you to having no money and being exhausted and frustrated and blaming everybody else for the greed that you put out there on your own. Chasing money never leads to any good decisions being made. You go to that point where you're just going into fucking things that you know you would never touch, but you've gone into them. You know, I can preach all day long. I can talk my my ass off. I could be on here for the next eight hours. At the end of the day, at the end of the day, it's really up to you guys to understand. You've been especially for those who have been here from cycle to cycle to cycle. If by now you don't understand that chasing is a horrible idea, that you should be going into real protocols that have real developers and real money behind it. I don't know what to tell you, man. There's no saving you. You're you're still you know, a lot of you guys see all these P&Ls, you see people talking about, you know, they've they've made millions. You see a Lamborghini, you see a Ferrari, you're like, man, this guy made it off of one token. And that's what you're trying to do. That's exactly what you're trying. You're you're trying to hit the home run. Instead of taking the single and the doubles, you're trying to go for the home runs. Why? Why are you going for home runs? Let the ball come to the plate and hit it. Why are you chasing the ball? And and the crazy part is you know a fastball is not coming down the middle. You know it's a curveball and you still swing. It's the craziest thing that I watch. I watch some of my some of the people that I know here. They see the curveball. They know it's a curveball. They're swinging like it's a fastball. It's the craziest shit that I've ever seen. It's crazy behavior. And then the audacity to come on to social media and say, you know what? My life ain't fair or I I I can never find the one. You know the people that win here, they've been holding things for six to eight goddamn months. Some have been holding for two years. I can tell you right now, Cardano is oversold and it will break its all-time high. What is Cardano? 21 25 cents? Where is it at? Whatever it is, if Cardano's all-time high was $3 and let's say 21 cents. You think that it's not going to break its all-time high again? It will. But you're you don't want to put your you don't see that the problem is people that have done the research, that have looked at all of our assets here. They're willing to park their money. That's what I call it. You're parking your money into these protocols and you're you're putting your hands up like this and saying, I'm not touching anything else. I'm waiting. You're sitting back and saying, I'm I'm I'm waiting. But you stay in the community, you look, you get yourself updated. You have got for Jesus Christ, you have AI agents that you can set up for yourselves. That can literally tell you in the morning give you news on whatever you're invested into. You can literally, hey, can you give me a full detail report on on these seven things that I'm currently in? And every day you wake up and you get a detailed report and you ask it to go absolutely deep diving into the things that you're in. And you wake up and you're and now you know what is fucking happening. You're not searching. You have it right in front of you. You have the scouting report. Every single morning, you know exactly what's happening. And then you can make decisions like, I'll buy more or I'll sell. I don't know why I am more passionate than you are. The craziest thing is I feel like I'm more passionate about kind of like helping y'all level up than vice versa. Like I I'm I'm out here just saying like, yo, you can win. You don't got to blame anybody. You can win. I can't even I can't even tell you to blame the KOLs or influencers because you don't got to listen to them. You can tune them out. You can block them. You can mute them. You can keep going. And follow value. Listen, respectfully, if you don't think I'm value, that's fine. I'm okay with that too. To each his own. Everybody sees somebody as value and others not. It's totally fine. It's totally fine. Not even offended. I listen, I look at Fox News. Though I'll look at other channels too, but like you have your go-to channels, right? You have your favorite commentators. That's fine. Everybody got everybody's got a channel that they go to for value and that's it and that's all good. At the end of the day, I press the buy button. I press the sell button. And that's bottom line. Ain't nobody pressing any buttons for me. And if I number one, I I do not go on guesses. I am not I encourage you guys on the guestimating. I'm going to guess my way to millions. That that is the worst thing you can do. I've seen it time and time and time again. You don't guess. You confirm. Period. Trust, right? Like the George came on here today. George from Zero G Labs. He said, what did he say? Because I I put it to him and and he's like, well, trust because I don't trust anybody. I don't trust respectfully. You got to earn trust. Vice versa too. Trust but verify. You can trust but verify the shit. It is 3:46 p.m. on the East Coast. I want to thank everybody who's tuned in to the show. I hope I don't know. I hope we have a lot more fun. Yeah, not hope. It will. We will have a lot more fun as we move forward. I hope that you're getting value from this. I really do. And there have been people that have reached out to me and they said, hey, thanks. Even though I don't reply, they've said thanks. Appreciate it. You're welcome. You are welcome. And I think we're going to have a fabulous time, man. We'll have a fabulous bull run, both crypto and AI. And we'll be talking about businesses and how to start a business, what you need to start. Like I these are the topics we're going to go into. We're going to talk about the midterms. Obviously, midterms are coming less than two weeks left. With that said, let's look at what Polymarket has right now in terms of midterms. Let's go to Polymarket. Polymarket is the official prediction market sponsor of the breakdown. By the way, I want you guys to join my squad. I'm going to put that link out there. Polymarket has come out with squads. I want you guys to join my squad, okay? If you if you haven't signed up to Polymarket yet, I do so by clicking, you know, downloading from the App Store Polymarket and then putting in the breakdown, get $25, okay? Use the code breakdown, get $25, okay? $25, $25, $25. And then join me, join me, join my squad, okay? Join my squad. Now, let's go ahead and look at what Polymarket has going here. Predictions. It is currently stating the Democrats still have a 63% chance of controlling the Senate. Okay? A 62% chance the Democrats sweep the midterms. So that number's gone higher. 62% chance the Democrats sweep the midterms. And let's look further down here. The US House midterm winner, 90% chance that the Democrats take the House. Completely domination at 90%. And then you have the Senate, which is at 63% chance of the Senate going Democrat. You know, and shout out to Polymarket. Polymarket is the official prediction market sponsor of the breakdown. Seeing these numbers, really seeing these numbers, I'm like, you know, it's it's mind-boggling a bit. And thank you to Polymarket there. It's mind-boggling a bit because you have you you have you have Democrats and then you have communists. I ain't going to even call it the Democrat Socialist Party now. I'm going to call it the the DCP, the Democrat Communist Party. The DCP. The DCP is out here. They they want to get rid of capitalism. They they just want to get rid of everything America has been built on. And then we're going to have France. We if we go in this direction, we are bringing France here. And I just don't understand why people don't see it. Why you guys don't see it, man. Like it's all fun and games. I get it. You don't like Trump. You don't like J.D. Vance's hairstyle. I I I understand it. I I I I get it. But are you willing to sacrifice everything that America has been built on to bring France here? To bring the UK here? Do you really want that? You want that kind of censorship? You want the Second Amendment to be taken away? You want the First Amendment to be thrown away? You're heading there. I'm telling you. This is not even a scare tactic at all. I'm just forget about being a Democrat or Republican. Look what's happening. Look what's happening around the world with countries that let in let in people into the country undocumented. Just let people in. It's not a good turnout. What are they protesting in France? Tell me what they are protesting in France. What exactly are they protesting that they're burning down the goddamn place? I can understand protest. Hey, freedom of speech, go out there, you voice your opinions, your concerns. That's fine. You don't got to flip cars and break cars and vandalize shit, loot places. Like that's not protesting. That's not that is absolutely not protesting. That is not the definition of protesting. That is anarchy. If you want America to end up like France, go ahead. Vote for the people that are telling you they won't denounce the Muslim Brotherhood. You got literally people that are asked the question, will you denounce the the Muslim Brotherhood? No. Will not answer the question. Will you denounce Hamas? No. Will will will not. And and like it it is mind-blowing that Americans will say, you know what? We're going to vote for this person. I don't know what to tell you, man. Even Canadians, my Canadian friends are complaining of how how how they they are growing up in socialism. It's almost like they they feel it's like communism. You can't do nothing. You guys don't remember the truckers protest where they shut down the banks? Or shut down anybody's bank account that was helping out the protesters? Like, do you understand where you guys want to lead yourselves into because of your hatred for orange man? You you understand every four years you can vote for somebody new to be president. Trump got two more years to go. There's checks and balances. So you don't really have to worry. It doesn't matter who's president as long as there's checks and balances. But it does matter who you put into the Senate and the House. I don't know. I I might be just I might be yapping. I might I just be I might be talking to myself. No, bottom line. I'm thinking about it. I'm probably talking to myself. Nobody really You see, nobody cares until they care. That that's kind of like what I always say. Nobody cares until they care. Nobody cares until it hits home. Nobody gives a shit until it hits home. Until it's close to home, until you start seeing people flipping your car and burning down your businesses, nobody cares. Like what, Minnesota wasn't a preview for you guys? Minnesota wasn't a preview? The whole Minnesota back in 2000 what? What was it? 2020? Was that not a preview? All across the country, was it not a preview of protesters protesting and looting, flipping cars over, burning? Like that is that's not protesting. And and guess what? And guess what? The virus that's coming into this country, they like that. They want chaos. They want chaos. When people are let me explain something. When people are united, when people are united, you can't control them. A united front

[Part 10 of 10] [00:00] not be controlled. When people are divided, you can surely control people. Look at look at what's happening in our current country. You can't even talk. You've lost friends and family members because you're either a Democrat or you're a Republican, you either like Trump or you don't. Or let's not talk. You're it's that's what it is now. [00:25] They like it that way. [00:29] Like a lot of the topics that we talk about are normal conversations. [00:36] Should young kids should young kids be mutilated? No. You know what? If a child one day, when they becomes an adult, when they reach their the age of 18, decides, you know what? I want to transition, God bless you. [00:56] That is a choice they are making. Their mind is way more developed than it is at 4, 5, 6, 7 years old. [01:07] So if at 18, they say, you know what? I I feel different. That's that's fine. That that is their choice to make. Not the state's choice. [01:21] Not parents who see, oh my God, my my son dressed in my my son put on a dress, that's it. I'm running to the doctor. We're changing his. No. [01:37] No. [01:41] You know, a lot of people are scared. I'm going to tell you right now, a lot of people are scared to talk. A lot of people are scared to open up their mouths and and talk about these subjects because you're scared to get canceled. And that's the problem. It's the fear of getting canceled is what keeps real people from voicing their concerns and their opinions and allows all this shit to become okay. That is the biggest problem that we face in the world today is that the the people that have common sense are being scared into cancellation so they'll stay quiet. [02:22] You have the WNBA today came out and said that the two uh men who wanted to be basketball who transitioned and they said that they feel like they're women now. Well, the WNBA came out and said they are not eligible for the draft because they are not biological women. Can you imagine it took them months to finally come out and acknowledge that these two men were not biological women. No matter how they feel about themselves, they're not biological women. Can you imagine it took this organization that long to come out with common sense thoughts. I'm telling you, like what I'm saying here is not bigotry, there's no racism, there's no hating on people, none of that. This is common sense. [03:23] This really is common sense. [03:28] And and and in these days, common sense isn't so common. [03:37] Ask people why they hate Trump. [03:40] Ask a person without tell them, without shouting, tell me why you hate Trump. And everything you'll hear from them, you'll either hear two things. One, they'll stutter, or two, they'll just regurgitate everything they've heard on mainstream media. That's it. [04:01] I hate Trump because he's taken women's rights away. I hate Trump because he's taken women's rights away. Okay, what rights has he taken away from women? Silence. [04:15] When Trump was running for his on the on the third time here to become the 47th president, they were out there saying, hey, Trump's going to take women's rights away. Well, his first time around as president as the 45th, I mean, he was there for four years and no women's rights would, you know, no women's rights were touched. What are we talking about? [04:38] Same thing was on display when he was running again. [04:43] No women's rights were touched. [04:50] Do you have to agree with everything that Trump does? No, you don't. But like a lot of these things that you a lot of these things you have in your mind about Trump, it it's wild. If you if you would just put away your goddamn allegiance to whatever party your your allegiance is to, you would see him for what he is. Okay. He got an ego. He wants to be the greatest president of all time. He says everything is great. Listen, there are a lot of things you could say, hey, Trump, can you stop tweeting certain things out? I get it. [05:29] But there's more pros than cons. [05:35] But if there's somebody that you want in office, let me put it this way. You might not agree with all the policies, right? But could we agree, could we come to a common ground here and say, we don't want what is happening in France and America? Could we agree on that? Like, I would love to know if we can agree on the fact that we don't want whatever the fuck is happening in France to happen here. [06:11] Is my live Hold on, did my live shut off? [06:17] Let's see what I did now. [06:20] Did I do something bad? Live violation. [06:31] What did I say? [06:45] What did I say? [07:05] I I don't even know. [07:07] I have no clue. [08:21] Now. [08:56] This is absolutely crazy. [09:00] I I don't even know what I said. I I absolutely do not know what I said here on today's stream. [09:10] I got a you got a strike for what? [09:21] What was the strike for? [09:25] This is crazy. This is absolutely insanity. [09:37] This is insanity. And this is what I mean. [09:41] This is this is what happens when you're not allowed to speak the on TikTok, yeah. They shut down my stream on TikTok for some sort of violation and they won't tell me what the violation was. I don't know what I said. I have no clue what I said. [10:07] I have absolutely zero clue. I had guests on here. We had Trump obviously speaking from the Oval Office. What did I say? [10:20] I was reporting on just like any mainstream media network would. What was said here that warranted any sort of violation? This is what I mean when they take away your right to speak, man. This is what I mean when they take away your right to speak. [10:46] They approved they approved they reviewed my appeal and they restored my live access. [10:55] This was just wrong. [11:02] This was wrong. Now now they restored it. Look at this. I can't show you. I don't know why I can't show you this, but appeal approved, but this is absolutely wrong. Absolutely wrong. [11:18] This is ridiculous already. [11:25] You can't say anything. You just you can't say anything. And I'm really surprised at TikTok. New ownership, it seems like it's gotten worse. With new ownership, absolutely has gotten worse. What what what like I'd like now I actually want to speak to them about what was stated that triggered me being restricted. Like this isn't an everyday thing. This is why you got to have multiple platforms. This is why you have to be on Twitter, you have to be on Instagram, you have to be on YouTube, you even though on on TikTok they'll restrict you, you got to be on you got to be everywhere. Rumble, you you got to push yourself to stream everywhere. I I'm trying to stream on Instagram and and Facebook. I think I might have a better chance with Facebook than Instagram because Instagram gives you an hour. An hour of going live and that's kind of weird. Though I could kind of play it into like here's an hour of what we do and then you can go ahead and come in and and chop it up. This is crazy though. [12:23] This is crazy, man. Just give give TikTok back to the Chinese government. This is horrible. Anyway, [12:31] Thank you for tuning in. I'll leave you with the quote of the day. Man, I've been here for a long time. I've been here for a long time, man. I I didn't even notice the time. But um, I got to get to work. Damn, I'm behind. Well, sort of. Sort of behind. Um, [12:53] Let's go ahead and go with [13:00] Let's go with a quote here. [13:10] All right, let's go with this. Um, [13:17] When someone says they don't like me, ouch. You hit me right where I don't give a fuck. [13:29] Thank you to the sponsors, Midnight. We'll go into Midnight City on Friday again. So shout out to Midnight. Shout out to Polly Market. Polly Market is the official prediction market sponsor of the breakdown. Also, Cake Wallet, go to cakewallet.com. Uh, download Cake Wallet. You know how I feel about it. One of the most secure wallets that we have in this space. Bitcoin, Litecoin, Zcash, Monero. You you have those things. You'd want them on Cake Wallet, man. Uh, FOMO, fomo.family. Go ahead and sign up at fomo.family. You can go ahead and follow me and follow others that go and trade. If you're trading, regardless. Uh, but go on there. I use FOMO to go ahead and look at what's popping on there. Maybe just maybe if there's something interesting, maybe I'll I'll jump in. I don't know. Right now, again, the market kind of feels blah. I think everybody will agree with me. Cop the book. [14:31] Cop the book, the Million Dollar AI Playbook. You can get that at you can get it on Amazon, but you can go on to davidgokhshtein.com. You can look through the entire site. Okay. You can figure out how you can go ahead and get in touch with me, get my book, win or at least attempt to win at life. I don't know. On that note, Tuesday, October 20th, 2026, tonight, you can tune into Akil Patterson, the Akil Patterson show as he talks about issues, trending news. Tune into that. Um, you can also tune into Landy. He had a show on yesterday. You can tune into his market update and see what's cooking there. Um, and that's it. Ladies and gentlemen, it was a pleasure. And if you're going to replay this or you're going to hear me on Apple podcast and Spotify, thank you very much. I appreciate you guys for supporting me, for having my back. We're going to win big, I promise. We're going to win big. Shout out to all the builders, man. On that note, I'm out.