Now, we have a big huge move from Tether,
going back to the chart,
up 0.02%,
which is more than what your bank is paying you to keep money in your savings account.
So let that sink in.
Let's take a look at the crypto bubbles.
So this is a nice visual of what's been pumping.
So over the last day,
as you can see,
we are in the Red Sea.
Everything is in the red except for SNX.
And I believe when I looked at it before I refreshed it,
FTT was up.
And you can see here--
- where did FTT go? Alright. - This is the-- on the week?
- This is on the weekly. - Yeah.
- FTT is up 51%. - Dang!
51%. I did mention at the top of the show, we have some FTX news
and once we go over the news, it might start to make sense why it's pumping.
But some of the other big leaders, we have XRD, Arbitrum up 33.2%,
Injective Protocol up 30%.
- That thing was a monster. I believe it was-- - Arbitrum and--
- Arbitrum and Casper's in there. - Yeah.
I believe it was AJ from BitBoy who talked about Injective.
- I might be wrong, but-- - Watch out for Casper.
I don't know too much on the details as far as the road map.
They had a big ICO.
But Casper has a monster community.
They are super vocal.
For where they're at on the CoinMarketCap list, I think they're outside the top 50.
Either way, they have a ton of community.
So you can see with a big community, you can get big rallies out of nowhere there, so.
One last quick question.
I think it might have came up.
You were Hillary Clinton's CFO on the campaign, right?
- It's part of my history. - Were you? Yes or no?
In 2016.
Did you facilitate the payment for the Steele dossier
since you were CFO of the Hillary Clinton campaign?
- Sir-- - Yes or no?
- sir-- - Yes or no?
That-- that was--
- that was not-- - You're under oath, Chairman Gensler.
- Yes or no? - I know.
I was not something I was aware of.
Got him!
So this was not strictly your cryptocurrency--
so he threw him a curveball.
And obviously Gary Gensler has a history
when it comes to the email situation with Hillary Clinton in the past.
And, well, they--
they threw him a curveball.
So he dodged that question.
Do you know how do the people that have the hearing--
when Gary Gensler got, you know, appointed by Joe Biden,
there's a hearing and Congress has to say yes.
And so you put these people in place,
how do you take the "Oh, I didn't know"?
Like, you were the CFO of the campaign.
If a million-- if I hire a CEO for Sin City Crypto and a million dollars leaves my bank account,
I am going to walk up and be like, "What was this?"
and if you don't know, you're fired.
That's all I'm saying.
I actually at MIT taught a course called Blockchain and Money.
I taught cour-- multiple courses called crypto finance and other f--
- other f-- courses as well. - But you didn't own any crypto?
- No. - You taught--
you taught the course, but you weren't a user in the product?
I did not own crypto assets or a highly sub-asset.
- I-- - No, no, I'm not asking for your view on it.
I'm just saying that you're in the business now of making rules and regulations
regarding digital assets, but you have--
you've taught a class on it,
you've never personally owned a digital asset, any crypto, including Bitcoin.
The only digital assets I have is my bank account
and my brokerage accounts but no crypto.
Am I the only one here that finds it extremely hard to believe that
a professor for MIT,
the leading technology university,
that the professor teaching a blockchain course has never purchased a single crypto?
- Dude, there's-- - Or Bitcoin?
there's tons of professors that teach business entrepreneurship
that have never owned a business.
That's like saying I'm teaching a course on being a chef and I've never cooked food.
Like,
it's very, very sus to me.
- And so I'm in the camp-- - What are you trying to say?
I believe that,
mark this day,
the Congressional hearing as the mom--
the nail in the coffin what got Gary Gensler ousted from his position
because we know what's on the blockchain is immutable and they're forever
and stamped into the ledger,
and if there was one transaction by Gary Gensler where he decided to purchase crypto
and if you're teaching a damn class at MIT on how to operate, you know,
how crypto operates,
how it integrates into finance,
blockchain technology,
he didn't teach just one course.
He taught multiple courses.
And yet you're sitting here trying to preach that you you--
- that preach crypto technology-- - Are you trying to say
- I'm trying to say-- - Gary Gensler committed perjury?
- he bought crypto. - So you're saying he committed perjury?
- That's what I'm saying. Yes. - In front of Congress?
- I think we're going to look back and this will be-- - Based off of your inkling
- that there's no way he taught a class and-- - based off of the fact a class at MIT
on blockchain technology.
We're not talking about a community college here.
We're talking about MIT,
the professor there teaching blockchain technology has never purchased crypto.
I find it extremely hard to believe.
We're seeing the M2 money supply start to decrease.
And we haven't seen that in a very long time.
Last time that happened, we went into a depression.
Into a depression.
Let that sink in. Go ahead.
Well, if you do keep increasing the interest rate and the system were to break
as we had mentioned, where the banking infrastructure collapses,
it doesn't have to happen here in the States,
this could happen internationally and then spill over to United States,
and if that were to happen,
we saw where the money went
when the SVB bank and the banking fiasco started just last month.
We saw that giant rally in Bitcoin.
It was a one for one.
SVB went under.
Money left, went straight into Bitcoin
out of this, out of the fears of uncertainty what's going to happen with your finances
and your purchasing power, your savings account.
And you know what?
Bitcoin was built for this.
It came out of the ashes in 2008.
That's when the whitepaper was written.
And it's no surprise that it had a pump at the same time that the banks went under.
And so if they keep ratcheting up these interest rates
and something were to break fundamentally when it comes to the banking system,
I would expect a gigantic rally in Bitcoin and other cryptocurrencies,
- but particularly Bitcoin, so. - Yeah.
So, word, buy Bitcoin.
Let's move on.
Ethereum fees spike as bots spend millions to frontrun punters
of highly touted pepe and chad coins,
an entity connected to a wallet named jaredfromsubway--
why do they have to bring that man into this, man?
- I thought we forgot about this dude. - He's in jail, right?
I hope so.
We forgot about it. It's been like, what, 15, 20 years since this clown was--
anyways,
named Jerry from Subway is sandwiching crypto traders,
mainly those betting on tokens such as pepe and chad.
Sandwich bots are frontrunning punters of newly-issued tokens such as pepe and chad,
which are memecoins with no intrinsic value.
They had to put that in there.
Thanks, CoinDesk.
A sandwich attack, which traps a user's transaction between two transactions,
which is then further manipulated to gain profits.
This is done by frontrunning the victim's trade by buying the same asset
and then selling tokens to the victim in the same trade at slightly higher prices.
Sandwich attackers aren't typically a form of exploit
but are looked upon in crypto circles as a type of predatory behavior,
which skims value from users,
leads to a spike in gas fees
and doesn’t benefit either the network or the user.
- Let me tell you guys something. - Were we talking about the current administration?
This happens every single day in the traditional stock market
via high frequency trading.
You have bots that come in
and you go to buy Apple stock for $205.10,
they scoop it up at $205.10,
and next thing you know, you bought it at $205.12.
Now that might not seem like a lot of money, two pennies,
but multiply that by millions,
and that is what's happening but in the crypto space.
But I can only imagine if this news story hit the desk of, let's say, Gary Gensler.
"This is what I'm talking about."
"There's fraud everywhere,"
except it's literally happening in his backyard.
Donald Trump's second NFT collection sells out within hours.
This is source from AMBCrypto.
So if you remember, Donald Trump already had one.
Well, now, he's got two because one wasn't enough.
Former US President Donald J. Trump's second NFT collection has sold out in record time.
The Trump-themed Series 2 of the Trump Digital Trading Cards,
which were released on 18 April, which is yesterday,
raked in millions of dollars for the former President.
He also--
he's been-- so he's been away from every social media
outside of his own TRUTH Social, okay?
But he did return to Instagram after more than two years
to promote the launch of his new digital trading card collection.
Trump is back!
Oh, and look at this.
All tokens are to be minted on Polygon.
I wonder why they chose that and not something like Solana
- or Cardano or anyone else. The NFT-- - You set that up, huh? Okay.
The NFT sold out within six hours, bringing in $4.6 million.
- Here's what Donald Trump wrote on-- - Yeah, but that was like four people buying them all.
- here's what Donald Trump wrote on Instagram. - I'm kidding.
"I hope everyone notices,
and I'm sure the fake news won’t,
- that I'm leaving the price--" - No, no, read it-- you've got to read it right.
"I hope everyone notices--" come on. You can do this.
You can do it. Do your trump voice on this one.
Come on.
“I hope everyone notices,
and I'm sure the fake news won’t,
that I'm leaving the price of the trading cards the same as last time,
even though they are selling for many times more,
it's called the market,
and sold out almost immediately,"
it was great,
"because I want my fans and supporters to make money, and have fun doing it.”
- You sound like a 35-year-old Stewie on Family Guy. - It was huge. I do.
- Stewie was my favorite on that. - That was good though.