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[Music] [Music] come on do something Bitcoin stuttering as the excitement around Trump's inauguration Fades are we now at the mercy of the FED what a week Trump gets cracking and crypto sees bullish developments left right and center and yet the market is a bloodbath ethereum Civil War vitalic Comes Out Swinging as divisions within the ethereum community widen and a look at last week's top performers tweets of the week what to watch out for over the next s days and much more besides this is the coin Bureau News Live welcome everyone happy Monday to you all

we are back above 100K above just at the start of the stream yeah yeah perfect timing well done everyone well done Nick um good to see you you too man yeah yeah it's been a crazy day it has been a crazy day I would like to share with you yeah uh some of the sentiment in the chat at the moment go let's go um I'll just read you a few select comments hi guys if anyone needs me I'll be rocking over in the corner uh honey it's all gone rugged again uh it was a fun

Bull Run guys are we are we doomed bare Market bare Market confirmed Bros you guys you guys are so so fleeting so fleeting I mean it's like last week we were you know two weeks ago we were like oh 100K oh that's such an amazing Milestone like a month ago and like last week it was all crazy we're going crazy Trump's coming in he goes with all these executive ex actions and all this and now Andrew says things not looking so good kids I'll be flipping burgers by next week guys chill out chill out okay

it's it's a bit of it's a bit don't make us bring the barres back and the candles okay is that what you need is that what you need because we'll do it um yes it is uh it is looking a bit red out there although things have started ticking up in the last hour doubtless in advance of this stream in anticipation of course uh Michael sailor has been buying as well but we'll get to all that um so we're going to cover Bitcoin as usual we're going to be talking about all the crazy stuff that

happened last week last week was amazing guys just want to hammer that home um and we're going to be looking at what's going on with ethereum and of course we're gonna as we go along we're basically try gon to try and answer the question of why has the market uh and it's not just crypto I should point out why have markets taken such a dip in the last 24 hours what's going on and uh what might be next but uh before we get to all that let's have a look at what Bitcoin has been doing

the Bitcoin price let's start off guys so last week uh just before the stream started obviously we broke through that hallowed all-time high again 9,358 to be exact on the day of the inauguration you know it was written in the stars and we were all very bullish obviously it was a great stream we had about that as well um and then as the inauguration speech went on bitcoin started to retrace retrace retrace everyone was wondering when is he going to mention crypto as if you know crypto holders generally think that they're the most important people

in the world like Trump doesn't have a million other things to deliver on he didn't mention crypto at all in his inauguration speech um so Bitcoin did dip below 100K very briefly um on the Monday evening um and sailor didn't buy during the stream last week although he did buy two weeks two days later right he bought again so $1.1 billion that's a big buy that's more so than he did in the previous weeks so he's stacking a lot last week and that was the average price he likes to keep us guessing exactly exactly I

think he was I think he was sitting there thinking ah they'll see it coming if I do it on Monday I'm going to do it a couple of days later he knows that basically we coton on to the fact that he watches coin Bureau live streams and this obviously means that he buys times his buys for when they start having said that he also front run out today yeah because he bought just an hour before the stream um we can go sneaky seller over there he bought another 1.1 so it's just it's just crazy H

he's stacking over 2.2 billion in the ban of two weeks and it's interesting because he was his buys were until a couple weeks weeks ago they were tapering off weren't they I think the last the last one he made before the election um before the inauguration I should say was was very small by his standards was it a thousand yeah like a thousand then it was in 2000 and then stacked up now so it been diminishing over over those weeks and now he's now he's back max chatting in the in the 10 Max chatting and

it'd also been fud around whether he still by going into the earnings and he seems he doesn't care so the buying continues um that wasn't the only bullish news last week guys we also got news that um NASDAQ had filed for a in kind Redemption for the iBot Black Rock fund now this is important because currently all ETFs operate a cash model and what that basically means is that it's cash in cash out when they when they have to redeem the shares they have to P sell the Bitcoin for the cash and then the cash

goes to the authorized participants and market makers now with this with an in kind it's mean it's Bitcoin in Bitcoin out which would mean that they won't be forced selling in in the bit for the Bitcoin for the cash yeah so that's I mean that yeah that should reduce reduce the amount of sales in in general exactly and it was the reason that we didn't have it in the first place is all because of the SEC ridiculous um but anyways we also had $1.9 billion do last week in total digital asset inflows according to coin

shares so that's looking quite bullish there as well um looking at some onchain stats I want to share with you guys quickly uh so we had a reduction in the realized profit being taken um over there on the first chart and we've also so had a reduction in the um realized profit versus loss margin uh which means therefore less people there's less people in profit right now or less profit generalized General profit which means that they're less likely to sell that being said um there is a lack of new demand coming into the space and

this is from the uh apparent demand metric from crypto Quant basically measures um demand coming in based on uh taking out of course the count of Bitcoin minor returns and then the the demand that's there right now for unmoved coins and the rate of demand is slowing so you can see it's still positive we still got a positive rate of demand it's still green but it is slowing so although the onchain that show us that profit taking is lessening so there's less selling pressure there's also potentially less buying pressure because the rate of demand is

slowing okay yep okay there was some other macro news last week um interesting to note that the dollar broke its um long uptrend as you can see here oh yeah so uh so well I mean this should be in theory good for risk assets Dixie yeah the Dixie broke through that long strong uptrend which is generally good for risk assets right so they're selling out of the dollar um which was the theory of course and we also had um the boj did eventually hike the rates yeah yes on the Friday yeah we uh we were

we talked about that at the end of last week's stream didn't we and we were wondering whether that was carry trade car trade on wine part two and wine part two everything was going to go Haywire yeah and no actually it didn't so that was looking good um and uh generally over the last week the price was kind of like trending in this symmetrical triangle and it tapered out to being a very narrow range towards the end we were wondering um okay what's going to happen now that generally when you see that you generally think

there is something that's going to happen a break to the up with the downside what's going to happen and yes of course we started this morning breaking through that symmetrical triangle going all the way down to a daily low I believe of 97,000 something so that's quite a nose bed isn't it quite nose bleed and I was it was uh we were starting to panic a bit here with the bureau had to change around the had to change around the the the stats and everything as well get the prices yeah which is why we do

these live now um but uh yeah why the reason for this is obviously not necessarily something related to crypto right yeah so this is this is really interesting now um deep seek this uh this Chinese built uh llm AI chatbot uh came out a week ago I think it came out on Mon day obviously the day that Trump was being inaugurated so eyes and attention were very much focused elsewhere um and suddenly everyone has realized that uh not only is this does this apparently outdo uh things like chat GPT and and other llm models um

but uh is also like ridiculously cheaper I think what was it6 Million they built it $6 million now bear in mind guys that some of the executives at these Western AI firms and companies their annual take-home pay is probably more than three to four times $ million I mean I'm kind of beginning to think probably open AI spent $6 million on Donuts you know what I mean they're raising what billions and billions and billions right um so it is crazy apparently it's and what's crazy about this as well is that it shows that the um

chip sanctions that were put on China have not hindered this development of AI yeah um and also because it's optimizations in the software component of it and it's they've used these slightly older chips and that's why big stocks like Nvidia are massively down in the pre-market the NASDAQ is down in the pre-market so basically um there's a massive fall there you can see nasda nasdaq's down on the Futures pre-market and in videos fall in because they say well if these were done with slightly older chips less optimized and they just optimized with a software component

that means that all this uh hype around needing these Advanced you know Computing chips that videos being creating for AI is that really necessary yeah maybe uh it's kind of it's kind of reframing the question isn't it because it's like well maybe you don't need to throw billions of dollars and the latest Hardware at it maybe you just need to maybe you just need to kind of think through the problem a little bit more it seems like they've actually you know it seems like the constraints that were put on them have forced them to find

find other Solutions yeah Innovation by yeah 100 100% force them to innovate yeah exactly um now why is this cause Bitcoin to fall well obviously at EX exactly the same time as this it was reporting that the correlation with Bitcoin with the NASDAQ index is at the highest level quite sometime I think and therefore obviously High correlation means it's going to fall with uh the with the equity index itself right so it's NASDAQ premarket is falling Bitcoin was sell off started selling off already uh so that's what's happened and that's why we where we at

but of course what's important is what's coming this week that's the most important factor now of course one thing I can say guys for certainty is expect a lot of volatility that's the only thing I can say for certain because not only do we have two very important dates which we'll talk about in a bit but one is obviously the FED meeting fomc Wednesday keep an eye on that there's the PC PC inflation print which is coming out on Friday but also on the 31st of January we've got a very big options expiry on derit

bitcoin options expiry about $7.8 billion in total is expiring and what's interesting to note about this of course as well is that you can see what's this max pain point which basically the theory behind this is that option dealers will usually try and hold the spot price down around the max pain point to inflict the most pain on the buyers and hence you know they're trying to keep the price down the spot price down prior to the uh expiry such that once expiry comes and they've settled the options the price will rally according to spot

demand Dynamics that's the theory at least but either way there's generally a lot of volatility around these option expiry dates so keep an eye on that date um and in terms of if you want to know uh where the prices could be going what's going on on the daily if you want some Advanced technical analysis then there's a channel I can recommend you to of course and that's the coin beo training Channel there they are those three handsome chaps um yep do check out coin Bureau trading um Dan uh eron and Mariano have First Rate

analysis there all the all the analysis you could want Nick is attempting to point to it at the moment it's in the top right top right in the top right always get this wrong it's so disorientating uh y yeah okay so as Nick says probably a lot of volatility to look forward to over this week we're going to come back and talk a bit more about this whole deep seek thing a little later on at the end of the next section because I think there's a few things to to bear in mind here I should

also say as well uh this being crypto of course one of the reasons that we've seen such a dip in prices is of course our old friend liquidations yeah right A lot of people had gone long for well for good reason really given what we're about to talk about um and of course whenever that happen happens and prices dip those long liquidations get wiped out they're forced to sell it go it crashes further and so on and so on so uh you know that is a big part of why the market has uh has crashed

so much um in the last 24 hours but or so but obviously this deep seek thing is a part of that as well and we will get to it but before we start talking about all the crazy bullish stuff that happened last week can I please remind you all to subscribe to like yep amen and to ring the bell as well don't forget to ring the bell and if we get to 1,500 likes this stream we will let give you a pre a preview of the kind of videos that we've got coming this week the

coins reviewing the videos that are coming as well as a little bit of an overview of what's going to be covered so for you there okay there you are hit that like button why don't you all right so let's have a look at last week now I've heard I've heard people say that the last last week was one of the most consequential if not the most consequential in crypto's history and to paraphrase uh you know to paraphrase other people who have said this basically the crypto industry got kind of everything on its wish list yeah

it got it it got everything we wanted nearly everything yeah and yet still 99.9% it's like you know you get the sundae you get the ice cream you get the banana you get everything but you just don't get the cherry on the top and you start complaining guys seriously yeah we we really need to take a long hard look at ourselves um so yeah so much crazy stuff happened we're going to run through a few of the big things that happened last week so um there were a couple of lwh hanging fruit like we discussed

uh in last week's stream one was the freeing of Ross alri alrick um which didn't actually happen on the first day of Trump's presidency but it did happen well I think it happened within the first 24 hours within yeah about two days yeah 48 Hours yeah look at that smile man look at that smile I mean that yeah I I really got goosebumps looking at that photo because I mean this is a guy who's been like like stuck in a federal supermax prison I mean these places are like hell on Earth yeah he was stuck

with like hardcore drug dealers and Kingpin right because he was charged under the kingping Kingpin act you know so it's an amazing yeah an amazing thing to see and uh well good luck to him I look forward to all his many inevitable podcast uh appearances that will be no doubt coming our coming sure I hopefully yeah well I look forward to his keynote at uh Bitcoin Las Vegas here we go that's that's probably going to happen right okay another lwh hanging fruits um was the overturning of Sab 121 yeah this is really big I mean

the Imp implications of this obviously this basically was staff accounting bulletin 121 which is of course the controversial secc rule that uh forbid you know if you wanted to hold crypto on your balance sheet as a bank you know for clients as a custody you would have to put that on your balance sheet right so you weren't viewed it wasn't viewed as a custody asset and many banks hated this obviously they actually got through the overturning last year in through Congress and Biden vetoed it that's if you believe Biden himself vetoed it and not someone

else signing I don't think he I don't think he even knew what he was signing there um but it's really big because obviously this means that now tradire institutions can have utilize custodians to hold these Bitcoin assets they don't have to utilize a ETF anymore and if they want to go and you know create Structured Products around Bitcoin they can hold the Bitcoin with these custodians big Banks like and big custodians like bny melon are already you know super keen and lined up so it's big news yeah I don't I don't think it's getting enough

air time in terms of like how important it is well and it's interesting you say they're lined up because they wanted this you know the big the banks have wanted this um as you said it was voted through through Congress along bipartisan lines and it only fell at the last hurdle when Biden was told to sign it yeah so and yeah as you say this is going to be this is going to be huge this is going to open up something the banks like I say have long been wanted to involve be involved with crypto

they know they can make money from it yeah 100% um and of course he gave his first executive order related to cryptocurrency finally came called the strengthening American leadership in digital Financial technology I was trying to figure out if that was an initially an acronym you know they sometimes make it make it a word but uh yeah they seem to have seem to have fumbled the ball have just been the mcga act the make crypto great now that there we go guys that you know if he if you ever need a job I can work

for Trump yeah why not man I can turn better policies yeah so um so yeah this was well I think this executive order that everyone everyone in the crypto industry was waiting for I think this was where perhaps the cherry on the Sunday failed to quite materialize wasn't it exactly and it was just down to wording yeah wording instead of a instead of a strategic Bitcoin Reserve we get in a national digital asset stockpile yeah now I think that's I think that's fairly sort of open-ended because it doesn't it doesn't give any indication of how

how they're going to accumulate it obviously it doesn't mention the Assets in question lania Trump it's still a digital asset it could be an nfts it could be Trump's nft collections yeah you know yeah I mean it's it's it's kind of anyone's guess so I think that's deliberately open-ended and of course a lot of bitcoiners especially were none too happy about that and um that kind of kept set the cat among the pigeons a little bit um but we'll come back to that um there was also uh the the executive order also prohibit um the

creation of a US cbdc yeah which is undeniably good news no one wants that um it also revoked an executive order that Biden had signed 14067 um this was the uh framework for international engagement on digital assets that was uh that was issued back in July 2022 and it was it was bearish for the industry like it all centered around like hacks exploits you know and financial you know Financial consumer protection it wasn't around innovation for crypto yeah I think it very much kind of took it took the idea that crypto is just a nest

crime as its kind of starting point and uh and went from there um and crucially this executive order that Trump signed as well um protected banking services um and that is an illusion to uh the winding up or the the halting of operation choke point 2.0 yeah thank God yeah yeah um of course mention coming back to the National digital asset stockpile uh why there was quite a bit of a fr and the crypto community in fighting Bitcoin Maxis were not impressed because it wasn't the Bitcoin strategic Reserve um so yeah they were uh they

were really struggling with the language yeah they were blaming it on Ripple yes Ripple came under Fire here a lot I think I I I think there was a lot of um speculation that Brad garlinghouse who was obviously pitched having dinner with Trump uh not that long ago was sort of leaning on him to uh you know to to well either include xrp in this stockpile I I mean I've heard people claiming that he was lobbying for xrp to be included at the expense of Bitcoin I don't know if it was at the expense of

Bitcoin but I mean he would be lobbying to have xrp included I mean just makes sense right if Ripple's his company that's kind of his job his job like it's to increase shareholder wealth and his wealth he's a big holder xrp I mean that's just he's he's talking his own book but obviously it dilutes the message around a Bitcoin strategic Reserve right yeah and now they're opening up the question are we going to have American only crypto strategic Reserve which is going to only include American cryptocurrencies are based and founded in America then comes back

to the question you know is Bitcoin technically American you know there's theories that Bitcoin was founded by a British chap or you know I mean let's face it it's probably probably most likely um wow that'll that'll get them going okay um there was also of course uh um the overturning now this wasn't uh this wasn't something um that Trump uh himself did um but a US court overturned the sanctions on tornado cach yeah that's great although it didn't um I think that the founders are still facing jail time facing the criminal convictions and things like

that which is unfortunate uh but I think this made sense right because how can you sanction a smart contract piece of code it's like a free speech right so it just makes sense right and people could now still go and utilize the smart contract itself to go and you know privacy enhance their eth but uh I personally wouldn't do that because that can be tracked you interact with that smart contract you know those coin those eth is going to be tainted yeah so I mean I don't think in terms of in terms of tornado cach

as Nick mentioned certainly it's developers um it's not quite all in the clear yet but I think this is a really positive start and I think this is perhaps most positive from the from the point of view of like overall development in crypto because when the when ofac when the treasury Department sanctioned tornado cach um you know de crypto developers everywhere were were like okay so if I build a piece of code if I if I write a piece of code develop a develop a protocol or whatever and someone then goes and uses it in

a manner that displeases the US government I could end up like one of these tornado cash guys facing potentially decades in prison yeah exactly you held responsible for some nefarious use case of your your code or what not right so it's like G no wouldn't want to bll into that yeah um and just some interesting wording here the appeals court clarified that immutable smart contracts are Beyond human control cannot be owned it's interesting and do not qualify as agreements or services that challenging oax expanded definition of property um so yeah this is uh this is

I think this is big news this should this should lift a big cloud from Over the crypto development space in general not just in the United States but obviously I mean because this applies all over the world because the the reach of the of ofac the reach of the US government is very very low very with many many agencies yeah it's not just ofac so yeah yeah so uh yeah so basically so much good new I mean that's only some of it there was so much else that happened last week we just don't have time

to go into but um all this good news and yet uh sentiment is bearish prices are down expectations are Ran So Far So quickly people were expecting us to be over 120k by now and you know just you know like a SPO kid on Christmas you didn't get everything you wanted and sentiment is just loow toys go out of the pram as a result um so look yeah I think you need to put you need to put the current prices to one side at the moment the Outlook is still incredibly bullish and I think as

far as this as far as this um deep cki sort of thing goes like yes this is potentially a very disruptive Force I think the main reason why it's affecting the markets is more kind of it's sewing uncertainty isn't it like people people are now saying okay does this mean Nvidia isn't isn't as valuable as we thought does this mean the kind of the current model of of AI development in the US and elsewhere does that mean it has to be rethought all these questions popping up that is uncertainty and markets hate uncertainty hate uncertainty

but it's also just a repricing that's what happens I don't it doesn't necessarily mean because Nvidia is worth less Bitcoin must be worth less it's just the natural correlation of it you know it's correlated you know asset managers opposition in their books ahead of the open if you sell in Bitcoin because of some AI chip in China and I'm sorry ngmi guys yeah yeah often and this you know this is true of of uh what's a good example is when the US government sells Bitcoin which you know may is another thing that may be coming

to an end now that Trump's in office but actually it was you know when you'd get those stories of oh the US Marshals are just moved x amount of Bitcoin to coinbase the the story itself and the fud it generates that's what hits prices it's not actually the event itself and I kind of feel this deep cki thing is a kind of similar thing as you say Nick it's a repic it's kind of it's shaken things up a bit some people are panicking and actually if you were if you were bullish on bitcoin before all

this came out if you believed it you know if you were bullish on crypto then this doesn't really change it yeah ex far as far as I can see yeah so just just chill chill guys just chill all right it is time for the walls of Shame and fame the We R here's the wall what is that guys my word have they gone full broke Back Mountain Production team here just really just keep us keep us keep us on our toes okay so just I can't unsee that oh my God I can't unsee that either

what guys this is that hairstyle actually quite suits me I've never thought of having that's kind of the rer cup isn't it go for it bro yeah I think that looks good what is M what is this guy thinking he's like he's I wonder who's on the Wall of Shame this week am I on the Wall of Shame is it me um okay so guys as you know we normally do a a Wall of Shame or a wall of fame and uh in previous ones we've done it uh according to the countries which um either

produce the most viewers um for the previous week's stream or the fewest viewers for the previous week's stream by head of population however we've decided to mix it up a little bit again we're now doing a Wall of Shame and fame and this week we thought we'd just highlight someone who has let's say not quite covered themselves in glory in the crypto space and someone who has so let's have a look at the first uh the first one is the Wall of Shame um now this is Ryan forier he is the chairman of students for

Trump students Trump big magga guy I think it's fair to say that this is this this guy is kind of the last person on Earth you'd want to find yourself sat next to an Al flight the Manus guy tweets I think he must be using an AI agent of some yeah I was looking yeah it's crazy uh anyhow um he got into Ryan got himself in a bit of hot water last week obviously um all everyone was talking about was the Trump and Melania meme coin god that already feels a long time ago doesn't it

um and he started tweaking uh tweaking tweeting probably started tweaking as well who knows um about uh another um another shitcoin yeah um and then uh yeah everyone sort of piled in and it turned out sold Tik Tok yeah Tik Tok shitcoin that he basically promoted around potentially as an option because Tik Tok was being banned at about that time right there was talk about that he's and then he promoted it and he got sent Supply or something and then he dumped the supply and what was funniest was the response what he gave when people

were um you know uh complaining about what he did right we just pull that up wherever we can find the Tweet itself he says um I'm not sure how many times one sec me put it up myself uh I'm not sure how many times I have to say this I wasn't committed to holding for week for weeks to begin with I never told the guy who created it that it's that's what I wanted to do it made sense to sell when the market was going down down increasingly I feel like this is common sense but

I don't know anymore yeah bro when you sell when the price is going down you're supposed to hold if you're a massive Supply holder otherwise you're going to dump on your fans and use them for liquidity I mean that's the most obvious point I I want to nominate it made sense to sell when it was going when the market was going down increasingly as one of the as one of the tweets of the Year we're only in January and already that is one of the Tweet crypto he say he says he doesn't know crypto but

that's one of the most crypto say you can have together with wallet mistakes were made in a wallet I control I think I think that tweet I think that line could be uh this Frame it I think it could be this Cycle's yo uh yeah yeah okay so that uh that is the wall of uh shame um that is the villain the hero of uh this week the wall of Famer is none other than this guy vitalic VG himself yeah he came swinging last week damn straight man changed his his profile picked to a Mady

and not taken prisoners going all at it you know defending ethereum it's cool yeah he kind of flipped into wartime wartime leader vitalic yeah he locked in 100% when all churchillian on us Mady yeah so uh yeah it was uh it was good to see vitalic waiting in and uh and standing up for ethereum um which kind of brings us on nicely to uh ethereum well ethereum Civil War I think Civil War is ethereum on life support well the bitco the BTC eth chart is on life support um we pull it up there this is

what's driving a lot of the sentiment just look at that three years of pain and torture Howes how does that feel guy as AER that is not nice as a Neath holder that is doesn't feel good you know apparently Trump is also going to Pardon um someone else the eth BTC CH it it needs a p it's been suffering for over three years it's almost as bad as super max prison just watching Please Mr President make it happen um but yeah what is going on why and it's not just L price of course there's also

for instance Dex trading volume you can take a look we can take a look at you know onchain activity fees Revenue um there's also this really interesting post from a crypto Quant contributor um I I'll show you the charts I won't go into them in too much detail but basically it shows there's been a massive net flow to binance it's been strong so basically if people are sending eth to an exchange you know they're likely to want to sell it six days of inflows have exceeded 100 100K in eth we've also had reserves on binance

that have spiked obviously again potentially people wanted to sell um and there's also the taker buy and sell ratio so basically this is just a take orders there's been more buy sells than buys and this is negative which means there's more been more sells than buys um so sell orders have dominated and and open interest is falling so in the market you know the market isn't looking very bullish yeah I'm actually uh and just to add to that just kind of anecdotally um I know you know a few people who've been sort of in etherum

and eth for a long time and a couple of them have have said to me sort of you know that's it I'm I'm out moved in one of them's moved into Soul um so yeah H sentiment in sentiment and morale in the ethereum community are are very low in parts now why is this happening well the first thing the first thing is obviously Market underperformance in general um narrative follows price um so yeah eth has obviously if you going back to that eth BTC chart it's been underperforming um there are many many reasons for this

I think probably uh the fragmentation across the ecosystem you know all these layer twos you know the sheer number of layer twos cropping up has become a meme in itself obviously that has meant reduced fees um which has been good for users uh but not good for eth so less eth has been burned as a result yeah exactly the whole modularization strategy not the whole monolithic versus modularization debate it seems like it's losing to monolithic chains like Solon Etc yeah um going back to vitalic as well um he has been periodically uh selling eth um

and you know there have been kind of questions questions around that now I think to be fair to vitalic most of his eth selling is is done in order to donate to Charities things like that so I don't think you can necessarily you know you really criticize him too much for that I think though from an Optics point of view it can you know it can look bad for eth but I mean there's absolutely nothing there's also Foundation selling there well yeah that's I was going to get to that yeah the ethereum foundation I think

is the kind of more controversial figure here I mean vitalic is still you know hugely respected uh in crypto and not just by people in the ethereum ecosystem as well as we'll see um but yeah the ethereum foundation obviously the the nonprofit that kind of is supposed to overse see ethereum's development now this was this model that ethereum pioneered this has been copied by by I don't know most crypto projects but certainly a very large amount you know this idea of a nonprofit set up in a in a sort of neutral jurisdiction like Switzerland or

Cayman Islands you know places like that so a lot of other crypto projects have gone down this route but the ethereum foundation has come in for a lot of uh criticism um a lot of that has been around uh selling eth yeah um sales by the foundation um have have become quite controversial there's also been uh controversy around Personnel so I am Gucci is the foundation's executive director a lot of people have said that she should be replaced yeah exactly and I think more generally I think the eth foundation has been way less involved in

projects working and building on E right so I mean zero XI gu he think he's the developer behind abstract which is a new Layer Two being launched is that the pudgy Penguins one that's the one yeah but it's lots of hype around this one and it's one a really big one and they apparently he was saying that no one from the foundation has even reached out to him and if you compare this to other you know projects like think about the salana foundation how involved they are in actually pushing salana adoption forward like all these

all these hackathons and all them reaching out and you can build and grants so it's the lack of active engagement from the foundation that has left people wondering you know who's coordinating a lot of this which is why theic is actually come back and trying to take more of an Hands-On approach now yeah well we'll look at that in a sec I mean obviously as well as this we've had sort of prominent figures um within the ethereum ecosystem uh kind of pushing back um a big one was Eric Connor uh so formerly known as Eric

do E I did not think I'd see this happen yeah he was the most one of the most biggest like you know proponents of ethereum like you know attack all the time yeah um and now he's basically yeah replaced his punk profile picture with a phraser one and he's even he's even mentioned in his profile his Twitter profile eth Maxi wow so yeah it's not looking good so yeah I mean you kind of think well if eric. eth is bearish it's not looking good brother it's not looking good um however vitalic as we uh as

we mentioned earlier has very much come out and come out swinging and you know come out to defend ethereum um and yeah it looks like it looks like there is going to be a bit of a shake up it looks like they're hearing these concerns yeah he is and it's also like um there are some tech changes he was potentially to implement um he's like written in a blog post last week potentially scale ethereum's transaction capacity to 17 times through well all two solutions we can whether that's the best approach who knows but um he

doesn't want to go through scaling the L1 because it compromises decentralization and quote social benefits but okay but he also wants to support hundreds of millions of users with crypto assets and decentralized applications which I don't know if that's necessarily the approach or ethereum's competitive advantage right now I think as a consumer chain I think it's already lost the race to the likes of salana and the others yeah um it's just not as the user friendly the the ux the UI is just nowhere near as quick and easy as salana and just look at the

adoption rates we've seen at least in the past few months yeah that being said ethereum does have a competitive Advantage when it comes to uh tradire institutions and like rwa assets and issuing on blockchains especially as the the second most secure network in the world institutions feel a lot more comfortable to issue on ethereum uh than many than they would many others so that's the competitive Advantage it should focus on I think yeah yeah no I think that's I I think that's right it's and it's I I guess does ethereum do do vitalic and the

uh and the rest of the you know the rest of his people at ethereum you know people on his side do they realize that you know and and is that going to be the strategy that they adopt because as you said I mean I agree with you I think you're 100% right though salana is now the consumer chain of choice you you could not have issued the Trump and Melania coins on on ethereum they would never have grown the fees would have just been too high for anyone to onboard yeah and whether any of the

layer twos are actually up to that job you know obviously they would have been better from a a fee perspective but even you know whether they would have been up to the job of you know of issuing those tokens you know salana itself struggled but ux as well because people would need to go and Bridge to a layer two right it's not as easy as just going donad a phantom want it you know yeah um but I think ethereum is realizing this because quite coincidentally last week a company called ethereal lie right launched and they've

been working on this for quite some time and it was actually interesting I was listening to an interview with the founder on Unchained and the the goal of this company is to kind of like be the BD for ethereum on Wall Street and basically L to you sing the Praises of ethereum and why companies should issue tokenized assets on ethereum on Wall Street and um they're marketing ethereum as the ideal asset for our waas and um this is something we've been saying for months I think like ethereum as the second strong biggest and most secure

network should be utilized for these rwa assets billions and billions trillions of dollars of rwas even Larry think was singing the Praises of rwas last week yeah yeah yeah well that was a bit of good news that we didn't even uh get round to discussing earlier the fact that Larry obviously uh last week was the Davos conference where um all the lizard people get together in Switzerland sorry uh all the world's most important people get together in Switzerland and uh talk about the talk about the future of humanity and uh of course Larry fin was

there and yeah he was being interested um a lot of people are actually interviewed by um CNBC sork box Ray Delio as well a lot of people talking about Bitcoin including Larry fin who said he I mean he was talking about it going to 700k or something it's not Davos though if you're not interviewed by Andrew Ross sain in the snow in that backdrop yeah that you know you've made it you know you've made it when Andrew R when you have to put a coat on and be interviewed in the snow but yes uh Larry

think was as Nick said was talking about tokenization this would probably happen on ethereum you know certainly as things are and I mean Larry think Larry think is a man who gets what he wants that's right yeah so if if that is if that is what he envisions then I wouldn't bet against that uh that being the the ultimate what what eventually happens um interesting that you mention chain podcast um yeah that episode uh with the dude from etherealized is uh e is that right etherealized etherealized yeah is definitely worth listening to um Laura Shin

actually as well the host of Unchained she had a good take on vitalic as well obviously she wrote the book on ethereum yeah so she or one of the books on ethereum um and she had an interesting take where she you know just mentioned talked about how you know vitalic was so young when this when when he created ethereum and it's I mean he's still a fairly young guy now and his his kind of thing is not you know he's not kind of the CEO natural sort of wartime leader that you would expect yeah he's

yeah he's a thinker he's a vision he you know he wants to write Long blog posts he wants to he wants to you know think about how he's a dancer as well you see the Unicorn dance oh yeah yeah yeah well and the old Badger dance back in the day um so yeah he's uh it's an interesting position that he's in because he does he doesn't really want to be this person and I think maybe that's why there was a lot of speculation that maybe Danny Ryan um should take over at the at the ethereum

foundation you know maybe it it just seems that the ethereum foundation need to be more sort of front foot in getting and aggressive yeah in getting out there and uh and promoting promoting ethereum and all it can do and look if it um if they want to go after the the institutional narrative that the pie is big enough you know they don't need to be necessarily the cons consumer chain salana salana and you know the the salana competitors can can split that P institutions aren't pre sensitive they don't care paying a lot for gas they

care about security right security and that's what ethereum can offer so leverage that competitive Advantage you know that's it yeah yeah okay so uh a lot to do for ethereum but it really does seem like I think last week was kind of pivotal when when there was so much um so much war on the timeline it does feel like things are changing you know within within the ethereum the organization here we go and I should say as well like this debate just would not be happening if eth's price had been performing stronger price leads narrative

man as always yeah and sentiments so yeah yeah so let's see ethereum has got a lot of work to do but I for one reckon they can do it there we go but yeah in the meantime eth BTC yeah probably ain't gonna look that great okay uh let's give H before we look at uh last week's top gainers let's give a quick shout shout out to our brand partners binance and Ledger yeah exactly Ledger's actually got a really good promotion going on right now guys if you go with the link down below which we will

share we'll also share it on the screen if we can you'll get uh $10 of free Bitcoin uh loaded onto any hardware wallet you buy from Ledger with the link down below so there you go you can already buy your Ledger prepacked with the gold standard of crypto nice um and yeah of course if you guys want to buy your crypto um in addition to the Bitcoin um and you want to move that Bitcoin to buy some altcoins um you know we've also got binance as a brand partner so in case you don't have a

binance account already uh go down to the link below and you'll get exclusive 20% trading fee discount for life and a $600 bonus top tier altcoin exchange biggest Exchange in the world you're going to get your altcoin there yes bonus is subject to subject to Whatchamacallit yeah certain certain volume requirements yeah yeah okay uh so buy it on binance store it on a ledger let's have a look at last week's top now um interesting interesting choice of one a couple that I hadn't really heard of yeah one or two of these I'm like I wasn't

I'm not all that familiar with so uh first up we have Onyx coin Onyx coin yeah so now this has been around since 2022 yeah yeah I mean the rally in terms of this Mark condition seems to be around an incoming update you know yeah so chart is actually quite something if we can throw that up you know yeah actually if you look at it on a longer time frame it's a sort of classic right re went went absolutely crazy and then uh um and then crashed uh but he having something of it you set

your alarm you said my alarm basically said no I'm sorry I'm sorry everyone Nick has somewhere better to be so that's it for this sorry guys I'm if we can carry on if that's okay taxis here um okay so that's uh Onyx coin uh XC next up we have Mantra om that's featured a few times on on top gainers um I think you can probably thank Larry think for this one yeah probably man that CRA I think all a lot of rwa excitement last week in general man just be around Larry think right yeah yeah

so Mantra reckon everything's going to be to they're going to be tokenizing everything they also been tokenizing real estate here in Dubai did you see that the news last two weeks ago about Mac is one of the developers he has tokenized something like 1.5 bit something like that 1.5 billion dollar worth of real estate on Mantra so interesting yeah yeah if you if if you don't know Dubai when you drive around you see all these skyscrapers and most of them either have Emar or deac written on them these companies are massive so uh yeah so

that's uh that's good for mantra okay next up we have uh mantle um again this seems MNT seems to be pumping around um expansion plans um I think they have some uh they have some update coming soon including around Banking and AI agents yeah I think mantel are really slept on ler too right because they the rebranded a bit d right and they behind they they have a massive Treasury and I think they were bred out of BU of bit right so you know I think in terms of Layer Two treasuries and layer twoos of

potential not that I'm saying I think potentially Manel could be interesting okay okay all right next up is Lio Lio da uh ldo um has had a good week um again thanks to uh Trump this time um it's this tweet from Arkham um not only is World Liberty Financial buying uh a lot of eth it's also staking it and it's appears it's using Lio to do that there we go dgen D DG okay and uh last up we have dexi dexi this one was new to me um so this this is a project that allows

web three projects to launch uh customized Dows like a Dow do fun or something yeah yeah I think I I've seen launch pad yeah um now uh I couldn't find too many reasons why the dexi token is doing well but they do seem to have very high yields on the protocol quite a lot of it is being staked uh so that could uh that could explain it but um yeah that's that that along with um along with Onyx coin seems to have sort of come out of nowhere broken into the top 100 yeah yeah so

uh that was tweets of the that was top gainers I should say let's have a look now at some tweets of the week again it was a crazy week for tweets smooth we go beautiful okay uh let's start off then first tweet of the week uh comes from Jeff Park yeah smart guy never forget it's not Bitcoin that needs Trump it's Trump that needs Bitcoin never mistake who holds the real power it's interesting yeah yeah I did I did like um Laur Shin responded to him she said I love your philosophy Jeff but I have

to disagree you know Bitcoin doesn't need Trump but also doesn't need Bitcoin it's interesting yeah yeah yeah that is true that is true but yeah I guess all this talk around a strategic Bitcoin Reserve all this talk around ETFs or whatever what's really important is is Bitcoin Bitcoin the protocol Bitcoin the software the fact that you can hold it in your own wallet you can self- custody it no one can take it away from you that's it will be there forever that presidents come and go yeah a y very true very true okay uh next

up we have a uh a good take on on everything deep seek at the moment from uh farro all jokes aside what's happening with deep seek at the moment is a change of perceived value in AI China who manufactures everything you use allegedly built what chat GPT did with a fraction of the money naturally American tech stocks like Nvidia fall on news like that and therefore so does crypto just another dip hang tight play the long game keep calm and huddle on guys yeah like I said you're not why you selling your coins just because

of an AI development it's like you know yeah just just ride it out ride it out it's all good okay uh next one uh comes from uh salana founder Anatolia I this this warmed my heart top CL top class I love it yeah you know yeah ecosystem shouldn't be fighting you know exactly this is again this is something that gets lost so much it's it's not crypto versus crypto it's crypto versus everything else yeah so when you see people tearing chunks out of each other on the timeline I do kind of think is this helping

and most of the time it isn't so it's really good to see anat vitalic buttin is bearan is awesome let him cook every healthy ecosystem needs to iterate change is good man pie is big enough yeah okay uh a great take from uh Gart next it's imperative we have a stockpile of crypto tokens in the off chance we find a use off chance we find a use case for all those governance tokens guys in the off chance we get the xrp use case we oh dear oh dear yeah just just stop pile them we'll find

a use of them later okay the important thing is the coins all the coins let's just grab it all you know accumulate discover find the use cases later it doesn't matter okay and well we were talking about uh crypto entities cooperating and supporting each other um no one told the Kraken intern shots fired hey man it's like a guy don't play games yeah I like it Bri Brian being very sort of you know Brian being very supportive of Kraken as well but no one told the in what a ratio 685 likes Brian's you know consolatory

tweet and then 15K likes yeah he decided to choose violence yeah obiously a bit of a bit of a tough week for for coinbase given you know the transactions were were taking I mean I I saw one that was saying it was going to take four years or something years a screenshot saying estimated time four years I was like that's for hodling bro that's forced hodling yeah I mean my salon is worth what now finally it's on coinbow I can sell it tol yeah okay that was tweets of the week let's have a look at

some coins to watch this week now we have to talk about Rune um this was one of the uh this was one of the bad news stories of last week and I say this as a rune holder so here's here's a few minutes of cope for you um so yeah thorchain uh was revealed to be uh insolvent last week um and I should say that article that we've got up on screen there from blockworks is a really good explainer of what happened and what went wrong um tldr for swap itself the Dex is fine yeah

uh it's still working as normal it is still generating fees that doesn't appear to be a problem um but thorchain itself has uh become insolvent it's it's liabilities The Lending The Lending component of it yes yeah exactly the liabilities the the liabilities exceed the assets and um it's it's basically the fact I think it's because of the fact that over the time it's literally been long Rune right ter of like you me and redeem Rune to basically in and out of the protocol right when it comes to lending the assets and the collateral is swapped

and if Rune is decreasing against bit the the assets being loaned out Bitcoin ethereum over time it's going to naturally become slowly insolvent so now they a bit of a trick bit of a pickle yeah yeah so reading about this last week it seems that they've kind of got two options either they kind of let it ride and see what happens and hope it resolves itself which doesn't doesn't sound ideal um or they try to salvage what they can of the protocol and you know kind of I guess sort of tear it down and start

again yeah I think it's like just let the bad debt go bad like just you know ins and then just basically Salvage yeah the protocol itself and then maybe give run a chance in the market the cryptocurrency itself and the and the swap feature itself an opportunity to grow yeah I mean both sound pretty painful it it seems like option two is probably the the better option yeah um so yeah it it like tough times for Rune I mean I'm seeing a lot of people saying that it may have bottomed already um like I say

you know I say this as a rune holder I'm I'm personally not planning to buy anymore at the moment I'm gonna kind of sit and and watch how this whole thing plays out but it will be interesting to see uh what they managed to do with this and obviously let's hope that they can salvage something from it um because well you know for one thing it would be a shame to see what is otherwise a you know a very good project um go down but I guess there would be OG in the quite some time

yeah so uh that is run and thorchain let's see then we also got Jupiter um so they're going through an air drop right now Jupiter Jupiter and um jupit and they've also got cast stanbul which is basically this conference they've got going on I think in Istanbul um Cat theme and um they've also just burned three billion jup tokens uh and uh also lots of EXC announcements for Jupiter last week they bought two protoc well they bought a majority stake in moonshot which you see how moonshot performed last week I know it went to it

was number one finance app was it insane yeah exactly I mean and so what a good what a good acquisition there in terms of the majority stake and moonot they also bought something called sonar watch so Jupiter's doing big things big things yeah um yeah it and yeah there's um there's a lot of there's a lot of cats involved with Jupiter isn't there yeah I think the F's pon guy called meow or something you're never far from a cat in crypto are you it's it needs to mellow out all the Dogge dog coins you know

yeah that's true it's true need balance in the crypto Market okay let's have a quick look now at some dates for the diary now as Nick mentioned we have it seems like every week's a big week in in macroland but um yeah this is a big one uh 29th of January two days time it is the fomc meeting damn straight now there's obviously no chance of a cut if you look at the FED funds rate probabilities but what's important is of course what will be said it's the first fed meeting this year it will lay

the foundation for what we could see in coming in the coming year in terms of rate Cuts potentially so there' be a lot of eyes and ears on that conference yeah yeah this is a big one this I think you know this could really set the tone for 2025 as well so uh yeah as Nick says probably no almost certainly no cut but it will be really interesting to see what Jerome what Jerome says the FED Whisperers will be listening yeah yeah so keep an eyee on that and I kind of feel as well that's

something Weighing on the market a bit too I I feel people are kind of you know waiting to see which way the FED goes so uh let's see and okay on Friday uh on the 31st um some more data uh core pce uh the PC is obviously the fed's preferred inflation measure um last uh it's the previous slot was 2.4% exactly and the forecast is 2.6 so obviously watch where the number comes in versus that um you know so that would be important if it's slightly cooler that's great it seems like like we had the

CPI two weeks ago as well as the PPI was slightly cooler so if it keeps with that then potentially looking good on that front more rate Cuts in come in we hope okay yes yes we're we're not going to get a rate cut this week but let's hope we uh let's hope we finally start yeah start seeing that because I think that will definitely breathe a bit of life into things um Nick a lot of people uh talking on this in the comments about how you're looking quite smart oh thank you guys I appreciate it

just for you guys for relative obviously but yeah I can I mean literally I mean I can confirm that he has trousers I have trousers I do guys look you know ni I see I see your Still rocking flipflops well yeah I mean I'm very casual very casual got to be comfortable at least in these streams you know yeah um and uh was there anything else so yeah it was um guy did you buy a new laptop oh yes yes I haven't got the one with the stickers on anymore yeah I've got that don't with

stickers that what not it's going to look no um and yes it was us from Lost was that guy and Nick Sawyer and Dr Shepard from the TV series Lost yes well spotted yeah everyone says I look like Sawyer I had to Google that many well there you are well there you are um some good comments here uh data Park 91 that's why I tell people it doesn't matter who the next president Bitcoin is going to go down and up regardless here we go man absolutely absolutely um and an interesting one here like yeah because

we talk a lot we were talking a lot about Michael sailor at the beginning of the stream it's always bad when there's a face connected to a coin unfortunately it seems sailor is becoming that for Bitcoin yeah yeah it is that we the fact that we have to track his buys and everything and have to look to him buying to be a savior in some way um you know yeah but he did say that when he when he dies he's going to burn all these coins right or something yes he did yeah yeah so uh

well I mean that's kind of still having influence really because he's just I mean he owns so many yeah yeah that's true if well if he zab's word yeah positive for the long term sustainability of Bitcoin yeah okay all right everyone Thanks for tuning in um how did we do on likes by the way oh not not enough not enough it had to be 1500 likes well I guess I guess people want portfolio reveals and stuff maybe uh maybe we'll do that next week um but anyway thank you everyone for watching we will be back

again next week uh and let's face it Bitcoin could be uh well could be ripping by then yeah indeed man these things happen these things change quickly we do all right good to see you thanks for watching see you again next week see you guys cheers still on this channel guys a ginger so pleased I managed to come last night I like garlic bread with my spaghetti I I never go outside and I I never go outside I like garlic bread with my [Music] spaghetti that was a good one I thought yeah likes unun next

time the views are live um yeah I I think we may still be live We Live ni it