Why The XStocks Frenzy Is Bad For Altcoins!

0:01 Okay, so we did have the highest quarterly close on Bitcoin. We closed the highest monthly close and the highest quarterly close ever, as you can see there. Also, to finish off the quarter, we actually got approval of a spot Solana ETF with staking, believe it or not. We got that yesterday, and it actually starts trading tomorrow. But if that's the case, why is it that when we look at the Solana chart, that Solana went up to $163 but now it's trading back at $148? What is it about this ETF that the market doesn't like or doesn't trust? I think we need to analyze this ETF. Then another thing that I want to analyze, and I want to spend some time on it today, is XTOCKS. I don't know if you guys have seen XTOCKS, but pretty much today on Solana, you can buy and sell, you can trade any of these stocks, any of your favorite stocks, literally

0:50 like you trade your altcoins. You literally can go to Jupiter or Raydium or whatever else, and you can literally swap USDC for Tesla X. You can swap, you can even swap FartCoin for Tesla X, believe it or not. So you can literally trade from meme coins into stocks, which is amazing because we're finally getting this convergence between TradFi and crypto. We're getting tokenized everything on-chain. The big question is, though, what does this actually do for altcoins? Because is this actually a good thing for altcoins? Is this a bad thing for altcoins? Which are the good old altcoins? Which are the winning altcoins? Which are the altcoins that we should be buying? And then lastly, today, I want to talk about Tom Lee because he's come out and he's made a massive move. For those of you who don't know who Tom Lee is, he's a very astute investor. He's

1:36 the head of Fundstrat, and he actually came out yesterday and announced that he is investing or is heading up right now. Tom Lee, he's also a CNBC contributor, and this morning he's got some news. Bitcoin miner Bitmine Immersion Technologies announcing that Tom will become its chairman. Tom, welcome first of all, and this is some big news. He's now announcing that he's going to be doing one of these ETH treasury companies or a MicroStrategy for ETH. So we need to look at what Tom Lee and a whole lot of other people are looking at, because Robinhood also actually made an announcement yesterday that they were going to do that they were going to use Arbitrum, which is on Ethereum. So is it time to actually be getting back into Ethereum? That's the big question. And I think, spoiler alert, I am actually putting some money into ETH. Those are all the things

2:24 we're going to be talking about today, a very, very high alpha show. Let's get going, guys. All right, we've got another quarter down. Another quarter down on Bitcoin. We're going to review the last quarter and see where the next quarter is actually taking us. There's going to be lots of alpha on the show. We're talking SOL. We're talking the SOL ETF. We're talking ETH. We're talking about why many of the corporates or Wall Street is actually going for ETH over SOL. We're going to talk about the SOL ETF, as I said, and generally talk about the Robinhood announcement because there was a lot of hype yesterday around the big Robinhood announcements and what it actually means for crypto. And I think it's going to take us, it's going to lead us down

3:15 a discussion around tokenized stocks, because what we're starting to see now is we're starting to see that basically the whole of Wall Street is starting to move slowly, slowly, slowly onto chain. And there's going to be winners and there's going to be losers, and it could be that some of our altcoins are actually the big winners, and some of the altcoins are actually the big losers. And I think if you can capitalize on this trend quite early, then you can actually end up making quite a bit of money. So I think it's going to be quite a big show. If that sounds good to you, and guys, help me out here, just smash the like button. We actually have been shadowbanned for the last couple of days. Someone mentioned to me, and I mean literally what I need you guys to do is smash the like button. Help us get out of this stuff. There's also someone says, "What of a Jerome Powell speech?" I think he's going on now. We are watching it here. You can see I am watching it here, so we are watching it here. I'll let you know if anything actually happens here, or the researchers will let us know, and we'll actually go into there. We're also going

4:05 to be checking up on our bots. We're going to be checking up on the Bukele Bot. We're going to be checking up on Mr. Lambo and Mr. Chateau to see how they're doing, and who's following them, etcetera. So big, big show today. Really, really, lots happening here today. All right, let's get into it because we don't have much time, so let's go, let's get into it. I know your attention span is very low, so I'm going to try and get into it quite quickly. So as I mentioned, Bitcoin, we had the quarterly close, the highest monthly and the highest quarterly close yesterday. The official close on this chart is about $107,056, and if you look at the numbers here, it means that Bitcoin's quarterly close for Quarter 2 was 30%, 29%. ETH also had a bit of a banger, 36%. That actually, as I mentioned yesterday with ETH,

4:54 when you look at ETH, it's just reclaiming the big losses that it actually had in Q1. ETH had an appalling, appalling Q1, like absolutely appalling Q1. Now we're getting into Q3, or the second half of the year. You've got the S&P at all-time highs, 6,193 currently. And if you look at the statistics around the S&P, you can actually see that the S&P in the last 10 years has never had a negative, or in the last 9 years, never had a negative July. So July usually a very, very good month for the S&P. The one chart that I have noticed that actually isn't doing very well is this chart over here. Well, is doing, I don't know, is doing well, isn't doing well. The chart's not doing well, but because the chart's not doing well, that should actually be a good thing for stocks and it should actually be a good thing for crypto. That's this chart over here. It's the chart of

5:42 the DXY. So we're getting a crazy breakdown of the DXY, very, very similar to when Trump came into power the first time around. This is when Trump came into power the first time around, and the dollar actually started breaking down. You can see we've got exactly the same pattern playing out here, which is exactly what we said would happen. I don't know if you remember our pre-election coverage, we spoke about it quite a bit, and we spoke about how we would get this actually going down, and so it is starting to break down now, and theoretically, that's good for risk assets. And that's probably one of the reasons why the S&P is actually performing like it's performing. But you've got to ask yourself, what is it that the market doesn't like about holding US dollars now, because there may actually be some clues there. So let's actually analyze why the dollar is actually breaking down like this. I think the

6:29 main reason why the dollar is breaking down is because of all this anti-Powell rhetoric that both Scott Bessent and Trump are actually driving into the markets now. Yesterday, Trump went to a point where he actually wrote a handwritten note to Powell. I mean, that is literally a handwritten note to Powell, knocking Powell and telling him that he should be actually dropping rates. And then you had, I mean, the spokesperson at the top is Switzerland. They're only paying a quarter for interest rates. Cambodia, Japan, Denmark, Thailand, Botswana, Barbados, Taiwan, Bulgaria, Cuba, Sweden, Morocco, Cabo Verde, South Korea, Algeria, Canada, Albania, Libya, Malaysia, China, New Zealand, Trinidad and Tobago, Czechia, Bolivia, Australia, Costa Rica, the Bahamas,

7:20 Kuwait, Papua New Guinea, Bosnia, United Kingdom, and the UAE are all paying lower interest rates than the United States of America, which has one of the hottest and strongest economies in the world. The president sent this note to the Fed chair. It says, "Jerome, you are as usual too late. You have cost the USA a fortune and continue to do so. You should lower the rate by a lot. Hundreds of billions of dollars are being lost, and there is no inflation." And the president is right. There is historically low inflation, thanks to his policies. I mean, yes, there is historically low inflation on the one hand, but true inflation does show us that actually inflation is actually increasing. You can see we were at a low of like 1.4, 1.5, and it actually is actually increasing. Now we're at 2.07% when it comes to true inflation. So as I said before, I do

8:08 think that in July, when the Fed meet, we're going to get a rate cut. The market's pricing in the first rate cut in September. I think we may get a bit of a surprise in July. Let's wait and see because there is an election, an inflation reading that happens between now and then. But regardless of that, I think the whole rhetoric between Trump, Bessent, and Powell isn't giving the market the confidence that they want to hold the dollar. They see this whole friction point between Powell and Bessent and whatever else, and it's becoming very scary. And what we can see here is that the market is pricing in a, the market has already begun to price in a major dovish pivot in monetary policy once Powell is gone. So the market's actually looking beyond Powell. They're saying,

8:56 "Look, Powell's going to get fired or going to get replaced." And between March and June, the futures are showing that we're actually going to get a real big drop in interest rates at that period of time. That's the first reason why I think the dollar is breaking down. I think this whole Powell rhetoric and this whole thing of Trump replacing Powell with someone who's going to be a little bit more of a puppet and actually start reducing rates is scaring the markets quite a bit. The second thing that's probably the market doesn't like as much is this big beautiful bill. So there's a lot of negativity around this big beautiful bill, and what we're starting to see now is we're starting to see Elon, who's very, very upset that this big beautiful bill seems to be getting passed, and you can see that actually in the Tesla chart. So if you look at

9:41 the Tesla chart now, look at the Tesla chart. It went down from a high of like $370 a few days ago, when they were driving robotaxis around Austin, and now it's at $297. And the reason for that is because Trump and Elon are once again having a spat against one another. Elon. So Trump says Elon knew for a long time, and he long before he strongly endorsed me for president, that I was against the EV mandate. It is ridiculous and was always part of my major campaign. He says, "Electric cars are fine, but not everyone should be forced into owning one. Elon should get, Elon may get more subsidy than any human in history by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa. No more rocket launchers, satellites, or electric crop production, and our country would save a fortune. Perhaps we should

10:28 have Doge take a good hard look at this." So Trump now threatening Elon, and Elon literally said, literally coming out and saying, "I'm literally saying cut it all now." And so what we're seeing is we're seeing the results of that back in the Tesla chart. Tesla back at $298. Truth is, I would love for this to escalate a bit further. Let the Tesla chart come down. Let's get back to the, I don't know, $240s or wherever we bought it last time at around $240. If we can get back there, that would be amazing. And I think another reason why that would be so amazing right now is because if it did come down to those levels now, we could literally buy Tesla using our crypto money. So it's becoming as easy to trade, it's becoming as easy to trade Tesla as it is to trade FartCoin.

11:17 And the reason why that's happening is multifold. The first reason why that's happening is because the crypto exchanges themselves have launched tokenized stocks. So like, as you know, Bybit, for example, they've launched tokenized stocks. So you can pretty much go onto the Bybit app on your phone and you can trade stocks, like normal stocks. Like basically, you can go on and you can trade all your favorite stocks: Tesla, MicroStrategy, Circle, pretty much any stock that you want to do. If you want to do that, there is a link over here. Use the link over here. Now, I want to just talk a little bit about in Europe. So for those of you guys that are trading in Europe and are using the Bybit app, what you need to do is you need to go and sign up here again, and you need to sign up for the Bybit EU site. Now, what's going to happen when you sign up for the Bybit EU site, you're not going to lose your Bybit International thing, but you are going to

12:05 be one of the first people signed up to Bybit EU. Now, what we are going to try and negotiate with Bybit is that the people that signed up earliest to Bybit EU will end up paying the cheapest fees as and when derivatives actually come to Bybit EU, which should be much later this year. So for now, even if you are registered on the normal Bybit, go onto Bybit EU and just actually sign up and try and be one of the first people to sign up because we are going to try and negotiate that the people that signed up earliest get the earliest fees. But anyway, you can trade these, you can trade tokenized stocks on Bybit. But that's not the only thing that you can do, because there's a new application or something new that's happening right now, and that is the fact that you can trade tokenized equities right now. The product that has launched that now allows you to trade tokenized equities is actually called XTOCKS. And what this actually is,

12:55 it's tokenized stocks that are tokenized and put onto the Solana blockchain. Pretty much you can go to Jupiter or you can go to Raydium or you can go to any of your exchanges and whatever else, and you can literally, you can swap your, I don't have, I don't have an account connected to this, but you can literally swap FartCoin for Tesla X or you can swap it for Coin X. Let's just see if we can get, so, or Coin X, or you can swap it for MSTRX. Okay, so how they've basically done this is they've basically got a system whereby they buy the stocks and they hold them in a custodian, and they put a representation of those stocks onto the Solana blockchain. And that means that you can literally trade all, I mean, just have a look at all these stocks. You can trade Abbott, Accenture, Amazon, Amber, Apple. You can literally

13:44 trade all of these stocks. Now, if you want to see the stock prices, you can literally see the stock prices here on Banter Bubbles. So if you've got the Banter Bubbles app, you can see Tesla's taken a big smack because of what I just spoke to you about. You can literally see all the stocks, and soon you'll be able to trade directly from here onto the XTOCKS. So this XTOCKS just goes to show what we've been speaking about for the last couple of days, and that is that there is a massive, massive frenzy right now to get into stocks and to get into crypto-related stocks. And what we're seeing right now is we're seeing a merger between TradFi and crypto. Basically, this whole narrative of being able to tokenize everything and bring everything onto chain is actually playing out in front of our eyes. I don't know if you guys were watching last night,

14:30 but Robinhood at ETHCAN made a few announcements. Their announcement actually went one step further than tokenized stocks. What they said is they're tokenizing stocks that aren't even listed yet. So they're talking about like tokenizing SpaceX stock, which is a stock that's not actually even listed yet. This is the actual keynote by Vlad Tenev, who's the founder of, exposure to private companies like SpaceX and OpenAI, which are now worth billions of dollars. That would be exciting to do, wouldn't it? But why talk about doing it later when we can do it right now? You may have been wondering what this awesome briefcase that I walked in with was for. Well,

15:17 I'm holding in my hands right now the keys to the first ever stock tokens for OpenAI and not just OpenAI, but also SpaceX. SpaceX is in here too. If you download the Robinhood EU app, which we gave you ample warning to do, you're about to figure out why we gave you that warning. I'd like to transfer these tokens to you and give you exposure to two of the most valuable private companies in the world right now. We'll give you a week to onboard, then we're going to release all the tokens. So as long as you're a Robinhood EU customer, you'll be able to claim what we believe

16:03 are the world's first OpenAI and SpaceX private stock tokens on a decentralized blockchain. So you see, so there's a whole frenzy of now bringing TradFi onto chain. And if you, if you can capitalize on this frenzy, if you can understand which tokens it will be good for, I think it's actually going to be amazing. But the thing is, the other side of it is that we need to realize that as people can trade using their USDC and USDT and their Bitcoin and their ETH and their SOL, as people can actually trade this instead of trading altcoins, now the liquidity on crypto is going to start being shared with an even broader universe of things. So it makes your selection of altcoins super, super, super important because imagine that we used to live in a world where this was

16:49 the only investment universe. So if you had USDC and USDT, this was effectively the only universe to invest in. It was a bunch of altcoins. Now what they've done is they've migrated a whole lot of other assets, stocks, onto our platforms, and now your investment environment actually becomes stocks and crypto. And eventually, what I think is going to happen is these things are just going to, we're not even going to make a differentiation. We're just going to have this world where it's investment instruments with a ticker, and the ticker is going to be SAY or it's going to be Pangu or it's going to be Apple, and we're not going to really differentiate that much. It's just going to be on-chain securities, which is basically happening. And the first step of that, we're in the first step of that right now. The first step of that is to bring representations of these tokens onto chain. So remember that these stocks or these equities are not actually

17:39 on chain, they are a representation of them on chain. So what they're doing is they're sitting, there's some custodian in, I think it's Jersey or the Isle of Man or whatever it is, and they are holding these, these, the actual stocks, and they are every time they're buying a stock, they're putting a representation of that onto chain, and then you start trading the representation of that to chain. And that token that you're holding gives you a claim against the actual share. So it's actually backed by something. But regardless, what it now means is that we're one step closer to 24/7, 365 stocks and crypto trading. As far as I'm aware, and I'm not, I haven't verified this, but as far as I'm aware, you are not allowed to trade equities or securities after the markets closed. So I think, I think that's why for now it can only be 24/5,

18:29 so in other words, 24 hours a day, 5 days a week. But I don't think you can trade it pretty much on the weekends. But you can trade all of this, and you can actually view all these XTOCKS on the Solana dashboard. There's actually a dashboard that actually shows you exactly what's happening. Now as I said to you before, the exciting thing is that, that, that now number one, there are a whole lot of protocols that will actually end up benefiting from this. So let's talk about some of the, some of the protocols that actually may end up benefiting from this. Obviously, the Layer 1 Solana will end up benefiting from this. Obviously, the DEXes, because where are you trading these things? Well, you can see the first thing I did was I went to Jupiter or you can go to Raydium, and you can, you can actually trade this on Raydium. And so these guys are starting to earn fees. So just like they were earning fees from AI agents, just like they were earning fees from

19:15 meme coins, these, these, the, the exchanges end up actually benefiting a lot from this. And you'll remember that I kept saying to you that my thesis around blockchain investing specifically is to, you've got to hold the Layer 1 because that's where the tokens are going to be created and that's where the gas fees are going to be paid. You have to hold the exchanges because that's where everything is going to be traded. You have to hold the derivatives exchanges because that's where everything's going to be traded on leverage. And that's really my, has always been my blockchain investment thesis. If blockchain is about bringing value, creating value onto chain, then, and and trading it onto chain, then you want to hold the chain. You want to hold the exchanges that are actually going to be trading this. And so let's just actually understand, someone says, "Yeah, got them all." That's, that's exactly where, where you should be. So you've got these

20:03 stocks that are coming onto chain. They're going to be traded on Jupiter. They're going to be traded on Raydium. And then you've got to ask yourself, well, what else is going to happen with these stocks? Well, let me tell you what else is going to happen with these stocks. So now you've bought yourself Tesla and you're holding this Tesla stock, and you're holding it, and that's great. You're holding this Tesla X or Coin X or MSTRX. But let's say that you actually want to borrow against it, right? So now you want to, let's say you hold a thousand Tesla shares. That means that you've got $330,000, or a bit less today, but you've got $330,000 worth of Tesla, and you actually want to borrow against it, right? And so you can go to places like, for example, Camino, because what Camino will allow you to do is to actually, so they're excited, they,

20:48 they made the announcement, excited to announce that Camino will be an official integration partner for XTOCKS on Solana shortly after the the Backfire. Backfire is the company that custodies them. XTOCKS will be onboarded as collateral to Camino Lend. So that means that you'll be able to buy, sell, and you'll be able to give them your Tesla or your SpaceX or your Tesla or your MicroStrategy X or whatever it is, and you'll be able to actually borrow against it. So pretty much we're creating a DeFi backbone but for TradFi stocks and commodities, right? So, I mean, you can see here there's, there's a massive, massive, massive, there's massive, massive, massive excitement around this. So Camino users will be able to swap directly into through

21:35 Camino Swap and use these XTOCKS as collateral on one of Solana's biggest lending protocols. And so this becomes super exciting on the one side of it, but on the other side of it, it's going to hurt our altcoins. And so it makes your altcoin selection much, much, much more important. Because again, you think in the eyes of Trad, in the eyes of a crypto investor, he's got, your crypto investor has got a thousand USDT or two thousand USDT or five thousand USDT, and he's asking himself, what should he do with that at the moment? Well, on the one side, he can invest in Robinhood. Look at this, look at this amazing cup and handle on Robinhood on the, on the weekly. There's the, there's the cup and handle, and look at how it actually broke out. It's a perfect, perfect breakout. Now again, someone's going to look at this and say, "Should I buy this, should I buy this or or should I end up buying or should or should I go and buy, I don't know,

22:28 FartCoin?" And so now what we're getting is we're getting a little bit of cannibalization of the altcoins, and you have to be super, super careful about that because you've now got a whole much, much bigger world of investment opportunities. And the question is whether money will onboard onto the crypto ecosystem as quickly. If it doesn't, then all of a sudden, we've got our, our, our coins, our Telegrams, our Solanas, our everything else, is going to be competing with these additional stocks for the same amount of money. And, and, and I think that that's where the danger in these, in these tokenized stocks are. The good thing is though that if you are holding the correct protocols, you can actually get amazing exposure to all these things. If you're holding Camino, all of a sudden Camino is starting a lending market. I mean, another one that is benefiting here is Chainlink. So Chainlink is the official price oracle for,

23:19 we're excited to join Stocks Alliance as the official oracle. Now, what do they mean by the official oracle? Someone has to provide the price of the stocks to all the trading platforms, right? And in this case, what you can see is it's, it's probably going to be Chainlink that actually ends up doing that. So who's going to benefit here? So the Layer 1 Solana is going to benefit. Arbitrum, we'll talk about in a second when we talk about Robinhood. Raydium, Jupiter, because those are the platforms that are trading stocks. LINK because it's the price protocol for the stocks. Probably Drift because Drift is probably going to do perpetuals on those things. Camino, which is going to do the collateralization. Those are the ones that you want to be, that you want to be holding. The problem is that if you're not, if you're not holding tokens that are specifically good for

24:06 the migration of TradFi onto blockchain, then you're going to end up missing this narrative, and you're going to, and I don't know how long this narrative is going to go for. The good thing is that if you look at the size of these equity markets and of these stock markets, they're much, much bigger than the crypto market. And so we're going to get this huge migration onto chain. And I think in the short term, it's going to be cannibalistic, but in the long term, I think it's actually one of the best things that's actually happened. We've been talking about this world of tokenizing everything for so long, and now it's happening right in front of our eyes. I mean, I don't know. Someone said earlier in the chat, I don't remember who it was, but we said something like, they said something like the Robinhood announcement was mind-boggling, and you know, I share the same sentiment with you. That announcement yesterday by Robinhood

24:51 was absolutely, absolutely mind-boggling. I mean, they literally went from, "Yes, we're kind of interested in crypto," to, "We are all in on crypto." We are starting an L2, our own L2, using the Arbitrum tech stack. We are on top of starting the L2 with the Arbitrum tech stack. We are going all in on staking. I mean, one of the announcements that I actually saw yesterday was, here where they said, "Deposit Bitcoin, ETH, and SOL, and get 2% back in cash." Literally, it means you go to Robinhood, you open, you deposit, I don't know, $100,000 of SOL, you get $2,000 back cash in cash right now. Why? Because they're starting to do a lot of staking, right? Their fees are obviously a little bit more expensive. So, yeah, so that's that's that's a

25:38 little bit bigger. But that's, that's the idea here. We see that Robinhood is basically coming in to fight for the crypto market. And so the markets are actually very much rewarding Robinhood, as you can see over here. You can see ever since they started their crypto, not, I mean, started their crypto pivot, ever since the market started pricing in their crypto pivot, it's giving it Coinbase-type valuations. Right? And you can see that Robinhood is basically obliterating the market. Don't discount how big their announcement was: tokenized stocks, a Layer 2 blockchain on Arbitrum. Arbitrum went up and then came immediately down because I think the market kind of realized that Arbitrum actually isn't going to get much of the value, right? And I mean, I just went and got this from a Messari report where they said that Base, which used Optimism's stack,

26:30 they got $23.5 million of revenue in 2024. That's it. So it's not like it's not a big moneymaker for these guys that their tech stack is actually used. Yeah, but I think we mustn't discount just how big this announcement is and how good it is that we're actually getting people like Robinhood into crypto. Because if you want, like, so I read this tweet. It says it's from Steven Goldfeder. He says, "No blockchain, no matter how good distribution, will onboard the next billion users. The next billion users will come from institutions bringing their products onto chain. Robinhood will be expanding to a global user base and bringing its users to Arbitrum." And that's, that's where we pretty much are now. And if you want to play this narrative, you have to make sure that you're investing in tokens that can actually benefit from this: the Layer 1s, the exchanges,

27:19 because that's where we're going to be trading all of these things. The derivatives exchanges because that's where we're going to be trading. And then the DeFi applications which allow you to stake, to lend, to borrow, etcetera, etcetera. So that is the, that is the whole Layer 1 thesis. Woody Wimer says something else, and I think he's pretty right here. He says, "There's absolutely zero reason to own Ethereum or any of its Layer 2 tokens. If you believe in everything will be tokenized, then rather buy Robinhood, Coinbase, Circle." And in a way, I think he's pretty much right here. I think he's right in saying, you know, if you really believe that the whole world is going to be tokenized, who's going to be the biggest beneficiaries of this? Well, as I said to you before, Robinhood's going to be a big beneficiary. Coinbase is going

28:05 to be a big beneficiary. And again, I'm saying to you again, you can trade these tokens, you can trade them on your Bybit account. You can actually even trade them on your BTCC account. So BTCC, another one of our sponsors, actually does that. They have a crazy, look, I don't know how to make heads or tails of this, but if you deposit money into BTCC and you deposit anything up to 100K, you basically get 10% deposit bonus immediately. So if you deposit 100, you get 110. It's like, it's weird. Like you just get money, and then you can withdraw your initial money. You can't withdraw the deposit bonus, but you can withdraw your initial money, and then you're still left with a deposit bonus. It's like, it's the craziest thing I've ever heard. So if you are looking for a non-KYC exchange, and you're looking for like a crazy, crazy deal, this is, I think, the best deal I've seen in the industry. I've never seen a better deal in the industry, to be honest,

28:50 than 10% cash back immediately on your money. It's on a non-KYC exchange. Absolutely crazy. Yeah, that's Robinhood. So Robinhood announced that they were actually building on ETH, right? And I think, look, we've always, we've spoken about ETH for a long time, and you know, my thesis is that I don't really like ETH, and I think ETH is too slow, and I much, I really, really prefer Solana. But you have to ask yourself a question. Why is it that all of Wall Street are actually going onto ETH? Why is it that BlackRock didn't even apply for a SOL ETF? Why, why, what's going on here? Why are we in, why are we in this world where, where, where Solana, which is the fastest Layer 1 blockchain, you know, isn't getting the same attention that ETH is getting,

29:37 specifically from one sector, and that's Wall Street? So when I look at Wall Street now, look at what Wall Street is doing. PayPal, Visa, Stripe, Sony. PayPal and Visa, actually, they're on Solana as well, but a lot of these are actually selecting ETH. And Raoul Pal says, he says, "I did, I did say that the corporate world will generally choose Ethereum. It was obvious. It won't be exclusively Ethereum, but Bitcoin is a reserve asset and others are tokenized networks." So there's now this battle between ETH and Solana, and it does feel like what corporate Wall Street is trying to do is they're trying, they're not going onto Solana, they're going onto ETH. So let's talk about why they would actually be doing this. The reason why they're going onto ETH is because

30:22 they're not actually going onto ETH main chain, they're going onto ETH sidechains. So they, like, if you think about what Coinbase did, they created a Layer 2, and the Layer 2 was a highly customized Layer 2 that they control, and that's of course Base. And if you look at what Robinhood have done, they could have gone directly onto Solana, but instead, what they did was they started their own Layer 2 which settles onto Ethereum. And you've got to ask yourself why. And the reality is that these guys don't want to use a generic blockchain. They want to create a very highly customized solution that meets the regulator, the regulatory challenges of specific jurisdictions. And so when Coinbase was building their blockchain, what they said is, "Look, we don't know what Solana has, doesn't have. We're going to build something ourselves that suits us,

31:12 and it's not even going to have a token." Right? And you can do that on Ethereum. Now, I mean, some people have played with doing sidechains on Solana. It's not a, it's not a thing. On ETH, you can build a very fast sidechain which leverages Ether's security. Now that's a big buzzword that's thrown around, that it settles eventually onto ETH. And effectively, that's what these corporates are doing. They're creating their own customizable blockchains that they are, that they are, that they're in control of. So like, for example, with Base, Coinbase is the only sequencer. They decide exactly what transactions go on and doesn't go on. It's, it's very centralized. I mean, call it what it is, it's very, very, very centralized. And then it settles, it settles on Ethereum. So the same thing, the same thing over here, you've got Robinhood doing exactly the same thing. And

31:59 so there is a Wall Street institutional bid for ETH which is actually starting to come in now. And that was cemented yesterday by Tom Lee, who actually announced yesterday that he is joining a new entity. This, the entity is called, here it is, it's this entity over here. It's called Bitmine Immersion Technologies, and they are effectively becoming a MicroStrategy for ETH. So Tom Lee, you've seen him on CNBC multiple times. I remember I've interviewed him multiple times. I'll play the video quickly. You can just watch, you can watch that. Joining us right now is Fundstrat's Tom Lee. He's also a CNBC contributor, and this morning he's got some news. Bitcoin miner Bitmine Immersion Technologies announcing that Tom will become its chairman. Tom, welcome, first of all. And this is some big news. It's kind of complicated,

32:48 but probably suffice to say that you all are doing basically what MicroStrategy did with Ether. You're going to make Ether the purchases that you buy through this. You're going to set this whole thing up like this. You want to explain a little bit? Uh yeah, glad to. You know, I'm still a big fan of Bitcoin because I think it is, you know, digital gold. But what we've seen in the last, uh, really in 2025, is the financial services industry and crypto are converging. And it really started with stablecoins, which is the ChatGPT of crypto, right? Because it's viral adoption by consumers, businesses, banks. And now even Visa underneath the stablecoin industry is Ethereum that is really like the backbone and architecture of stablecoins. So he's right here. I mean,

33:37 if you look at it here, so if I just got you a number here to show you, just, let's just see if, okay, that's the real world assets. So if you look at stablecoins, if you look at the breakdown of where the stablecoins actually sit in the world, you can pretty much see that Ethereum accounts for over 50% of all the stablecoins in the world. And he's saying that this is the viral moment, the viral thing for crypto right now is, is, is stablecoins. It is the biggest used application on crypto. And so the first thing he's saying is that this is the, the, the viral application, and that sits on top of Ethereum, and you can't argue, he is right. So it's important to create a project that essentially accumulates Ethereum to essentially protect and have some influence on the network. So that's why we're creating this treasury vehicle to buy Ethereum. The more

34:25 Ethereum that's accumulated, the more secure the network is. And I think it's also sort of the architecture that future banks will have, you know, when Goldman issues a stablecoin and JPMorgan doing it on Ethereum as a Layer 1 blockchain, they're going to want to secure it by staking Ethereum. So we're trying to get in front of that by creating a treasury. Why? Just so I understand, it's safer if you own more of it. Explain why that would be. Well, Ethereum is a Proof of Stake network, right? So unlike Bitcoin, which is Proof of Work, he's going to break down, he's going to break down here how unlike Bitcoin, Bitcoin, no matter how many Bitcoin you own, you can't change the network. The miners decide which way the network goes. With ETH, that's slightly different. The more ETH you own, the more vote you have, and therefore you

35:12 can sway which way the network goes, which is very diff, that's the difference between Proof of Work and Proof of Stake, right? With Proof of Work, no matter how much Bitcoin you own, you can't tell the miners what to do. The miners decide what they do. The computing power makes the vote. With Proof of Stake, you stake your ETH. By staking your ETH, you have a vote in which transactions go through, which transactions don't go through, etcetera. And so his thesis is, if Wall Street is going to build on ETH, then they're going to want to have a say in which way this, this, this network goes. So it's like, it's like, it's like being part of a company. You're part of this company and you want to have a say as to which way the company goes. And so you use your shareholder vote. And miners do all the work for you, and that's why you have decentralized trust

36:00 in Ethereum. It's important for these entities to be essentially validate transactions. So by becoming a staking entity, you're sort of securing the fidelity of stablecoins. So you don't want a stablecoin like USDC or USDT to be on a blockchain that's outside the purview of the US. And so I think Ethereum is a, you know, high quality, the second largest blockchain network, and it's over 51% of stablecoins and 30% of all fees on Ethereum are actually stablecoin revenue. So we even have the Treasury Secretary Scott Bessent talking about how stablecoins could be. That's effectively the Tom Lee strategy. It was summed up here by Ryan Adams. He said, he's front-running the ETH accumulation by the banks, which he thinks that as banks move onto

36:48 ETH, they're going to adopt the same theory that he's basically adopted, and they're going to say, "Look, we can get onto this network. We can use this network, and we can actually sway which way it goes." So he's front-running. He says, he says, "Ethereum is also the architecture that banks will have when Goldman issues the stablecoin." Okay, we, we, we actually, we heard that actually talking. So that, that is what his thesis is. And so now he joins a whole lot of other ETH accumulation companies, especially the biggest one being Joe Lubin's one. Joe Lubin was a co-founder of ETH, and he started with the Sharp Link gaming. Yeah, and I think, look, he is right when it comes to ETH. The investment thesis for Wall Street is it's the biggest in real-world assets. It's the biggest in stablecoins. It's also a store of value with a cash flow because remember, you can stake ETH and you can actually get a cash flow, which you can't do with Bitcoin.

37:36 And at some point, Wall Street's going to actually start to understand that. And so, you know, I've always been someone that's been, I haven't been really very much for ETH. Like I've always said, "Look, you know, between ETH and Solana, I think Solana ends up winning at the end." And the reason why I say that is because if you look at this table by InvestAnswers, like just look at this finality in seconds. ETH is in the finality time is 360 seconds to, to finalize a transaction. With Solana, the finality, they've actually reduced, so they've actually reduced their finality time to 100 milliseconds. They've made this, this upgrade. The upgrade's called, I can't pronounce it, upgrade for the, for the life of me, Lenlos. Okay, so the Lenlo upgrade actually makes Solana 100 times faster. Okay, so it makes it 100

38:26 milliseconds to finality. So Solana's become much, much faster in terms of the number of transaction max transactions per second. 45 max transactions per second for Solana. 710,000 daily transaction. Solana is doing about 100 million. ETH doing about 1.5 million. But he's comparing ETH to ETH to SOL. But it's not a good comparison because what he should be comparing is he should be comparing ETH Layer 2's to SOL. And if you compare ETH Layer 2 to SOL, then what you'll realize is that Base can do a lot more transactions. Base can be a lot faster. Base is a lot cheaper. And Base probably has a whole lot of much bigger daily active users. And so you're getting this, this world now where you're getting ETH against, so ETH L2s against Solana. And the benefit for,

39:18 for the, for the, for Wall Street is with an ETH L2, they can customize exactly what they want their chain to do, not to do, who puts transactions, who doesn't put transactions, all the things that we don't actually really like in blockchain. And then if you want this fast public blockchain that's going to be the Layer 1, which is, which is actually Solana. And so what I've done now in my portfolio is I've actually, I've hedged that bet, and I've said, "Look, I was originally only in on SOL, but now I've got to go slightly, slightly, slightly into ETH." And the reason why I have to go slightly into ETH is because you can't write off that what's happening now in the US is that, is that we, we are in a place where it's becoming very much institutional, and the institutional bid is very much going into, into, into Ethereum. And so I guess you have to hold a little bit of both of those in, in your portfolios. Let me know, let me know

40:06 if you are holding both in your portfolios. Very sweet is that cereal where, where's cereal? Oh, Alpen. Okay, I see what you're saying. I see what you're saying. Alpen blow. I see. I see. Let's talk about the SOL ETF. So I did say the other day that there's going to be a SOL ETF that was actually approved this week. And actually there has been a SOL ETF that's actually approved this week. So the first ever SOL ETF starts trading in the US, and it's a SOL staking ETF. And when the news came out of that SOL staking ETF, SOL pumped all the way to $162 for about 2 milliseconds, and then went all the way back down to $149 before the announcement was actually made. So it tells you, it tells you one of two things here. It tells you, someone says, "Ethereum is Pepsi, Solana is Coke. Which is better?" Because I think there were like

40:55 blind taste tests done and Pepsi was better. Which is better, Pepsi or Coke? Let me know in the chat for you. What's better, Pepsi or Coke? I think I like Pepsi. No, there's nothing like a cold Coke with ice, bro. There's nothing like cold Coke with ice. Nothing like that. Anyway, let's talk about this SOL ETF. So there was a SOL ETF, it's, it's true, like I, I verified this. There is a SOL ETF that is approved. It's starting to trade tomorrow, Wednesday. It's a SOL ETF with staking, believe it or not. It's a SOL ETF with staking. Someone says, "Coke." Coke. When I say Coke, you know what kind of Coke I'm talking about, right? I mean, but I don't have to say it, right? So the difference, the reason why the market's not

41:42 as excited about this staking ETF is because, yes, it's a SOL staking ETF, but the way that this SOL staking ETF works is not like a normal ETF that's actually, that's actually launched. It says, so I want to read this. It says, "Rex Osprey's SOL staking ETF launches this week, first to market. I was curious why giants like BlackRock didn't just copy Rex's approach and beat them to it. The whole thing didn't make sense. I had a conversation with 03 to understand what I was missing. Turns out the big boys aren't sleeping. They're avoiding a trap. What's the trap? There's a hidden tax bomb. Rex's structure means that the fund pays corporate tax, 21%, before investors pay their own taxes. It's like getting taxed twice on the same money. Every day, the fund's value gets dinged by the tax obligations. Similar funds using the structure underperform by 2.5% annually just

42:33 from underperform by 2.5 to 5% annually." So the reason is that the way that they made this ETF, because the SEC wasn't ready to approve the real ETFs, is they did this in a way where they actually end up paying more tax. They pay double tax. And then the other thing is what they call the 3% poison pill. Other funds legally can't own more than 3% of Rex's ETF fund without jumping through expensive hoops. That means Vanguard can't put in their target date funds. Wealth managers can't add it to their model portfolios. So what it feels like is it feels like we have an ETF, but it's not like the real ETF. It's not like the proper ETFs that are done by BlackRock and Bitwise and all of those. It seems like they found a workaround, and the price for that workaround,

43:21 on the one hand, it does give investors an entry into SOL with staking, but on the other hand, they have to pay a lot of taxes, and they can't, it, it, it's not an investment vehicle which is actually available or reasonable for for the rest of the world. And that's why this ETF is not exactly the big ETF we're waiting for. We're still waiting for the big ETFs to actually be approved. Okay, lastly, let's talk about, let's go and check in on our bots. So we did speak yesterday about Bukele Bot. Remember, Bukele Bot is this bot that is trading, it's a bot that trades every single day. You can copy the bot by going to, if you want to copy the bot, basically, you don't have to install any bot. All you do is you go to your Blofin, you sign up to Blofin,

44:07 but you have to use this link over here, otherwise you cannot trade on Bukele Bot. So you use this link over here, and then once you've got money in the account, you go to Bukele Bot and you press copy. Oh wait, I'm not logged in. Hold on. Let me quickly log in and then I'm going to, I'm actually going to put in some money myself so that you guys can see it. So let me do that, and then we're going to check in on our other bots because our other bots are also doing fantastically well. Bukele Bot, new, so it doesn't really have a track record. Let's see if I can actually open this account here. Hold on. Okay, let me just. Okay, fantastic. So someone says, "To bot or not to bot?" You're not actually botting. So I'm going to quickly, I'm actually going to add money to this now. They've, again,

44:54 we're never going to, yeah, I've got $45,000. I'm going to put $40,000 in. I'm going to actually, let me put all. I wonder if I can put in all $45,000. Okay, I'm going to put in all $45,000. Select a trading bot to you. Okay, let's go. Bang. And I have now submitted it. Okay, cool. So now, now I'm copying. That's it. It's literally like a one touch to copy. That's it. So now I am copying Bukele Bot. I've put in, as you saw, I put in $45,000. If I want to uncopy, I just want to show you how easy it is to uncopy. Literally, I just go to this button over here, and then from that point on, I'm uncopying. I like, click in, click out. You can decide when to copy, when not to copy, with one button. So he hasn't really picked up his momentum yet. Suffice to say,

45:39 he's got a 73% win rate, but he's a new bot. And here in, in the beginning, we were still testing it, so it was going down. So now this bot's down, and now it's only starting to actually start getting returns. And you can literally see all the people that are starting to copy it and the amount, the amount of money that they're making. So they're all like, I mean, it's just started so in the last couple days. So if you want to copy this bot, literally what do you do? You go to here, you sign up to Blofin with this invite link, and you click on, on, on Bukele Bot. That will take you to that page over there, and then you can copy and you can uncopy. Then you've got our other two bots. Remember, we're actually following three bots. This Bukele Bot is just a Bitcoin only bot. It jumps in and it jumps out. Bitcoin in, Bitcoin out. What you can see is that again, Blofin reduced it to 200 people. So there's 71 people of the 200 people

46:24 that are already in. So Blofin unfortunately have this like limitation. We tried to increase it yesterday. They increased it to us for 500. For some reason, they went and took it straight back down to 200. So long story short, long story short. Someone says, "All these bots are fair. Are these bots fair?" I mean, you could say, but if you look at how these bots are trading, they're trading in, out, in, out, in, out. It's, you've got to be, it's a full-time job, this. It's a full-time job. So you saw how easy it is to basically follow this bot. The other bots that we are following are on Bybit, so, and for there, anybody, anybody with any link can go. So you sign up to Bybit, and you go. The links are below for these bots. This bot, who is Mr. Chateau, he in

47:15 the last 30 days has an 8%, which in a sideways market, I mean, which Bitcoin hasn't done 8% in, in the last month. In a sideways market, probably that's the best strategy. The other one, and and but he's trading altcoins. And then you've got the other one, Lambo Guy, which is also trading altcoins. He's done a 10.51% this month. All of those bots you can actually find at the bottom of the show here in the show description. You can actually find every single one of those bots over here. So that's, here's your Chateau Bot, here's your Lambo Guy, and then here is your Blofin bot, which is over here, the Bukele Bot. The Bukele Bot is the only one that's limited to 200 people right now. As you can see, we've got 70 people. 71. Okay, 70. I think 71 includes me. I put in a

48:04 thing. All right. So if you want to join us, join us on this journey. You can unstake at any time. You can just click the uncopy, and then you're basically, you're basically out of the trade. Remember, guys, there's this crazy special on BTCC. I've never seen anything like it. You go and do your stuff. You go and check it out. I will see you guys again. Wait, is there any news? Is there any news, Josh? Is there any news? Is the newsroom going crazy? No, the newsroom is not going crazy. Fed Chair Powell expects, yeah, let's just quickly read this because we're all here. Fed Chair Powell says a solid majority of the Fed expect rate cuts this year. He also says he cannot say whether July is too soon to consider it. So what did that do to the odds? The odds were at 80.9. Let's see if

48:55 the odds actually changed. I don't know if they changed that quickly though. That's the question. Let's see. 78.8. It just keeps hovering between 78.8 and 80.9. All right, chaps. I'll see you guys again tomorrow. Until then, trade well, my friends.