Who Regulates Crypto? SEC vs. CFTC Explained | Daily Crypto IQ!👀

I never knew. Hey >> [music] [music] >> hey, hey, [music] hey. [music] >> [music] [music] >> I think that we're just holding on to something. I wonder. [music] I think that we just holding on to something. I think that we're just holding on to something. Just tell me what's [music] Heat. Hey, heat. Hey, heat. I think that we just holding on to something. I think that we just holding on to something. Just tell me what's [music] Heat. Heat. [music] >> [music] [music] >> Let's go. Welcome to the Underground Crypto Deep Dive Show. Thank you for being here. [music] your daily show where we go deeper into all kinds of different topics and all of the different elements [music] that make up or categories you could say niches that make up the cryptocurrency [music] niche itself. Niches within niches. That's

what I have to say tonight. How you doing? There I am. I'm on screen. Let's kick off this thing and let's talk about it. So, I got a great show for you guys tonight and a great series. Of course, Monday being the first. We do a new series every week. If you're new here, the whole point is to educate ourselves, of course, because I believe the more you educate yourself, the more that you are going to be a better specul speculator or be more speculative in the market. So, that is the idea here. We want to raise your crypto IQ. As I always say, we go beyond the headlines and we try to get into [music] the underground niche parts where things start before you see them break the surface. It's going to do like a plant analogy there.

Fell apart on me. Anyways, how's everybody doing? How's all my undergrounders? Who's out here in the chat? The lose guy says, "Thank you, God, for everything in my life, the good and the bad. Some were blessings and some were lessons." I do love that quote. Shout out to the funky ferret. seeing that name quite a bit. Shout out to myself who's commenting in there. Shout out to Melissa, our wonderful [music] mod. And if you're here with us, drop something in the chat so we know. The deeper we go, the more we all learn. Exactly. And it's been fun to kind of lead the charge here, right? Kind of be the one to kind of pick the direction. And I really do get to pick kind of what I want to study as well. So sometimes we go really deep

and I have a feeling that's where this series is going to go. People are not paying attention right now. And I it this happens every bare market. So this is nothing new. But there is so much going on from institutions, regulators, and all kinds of big people. The stock market, all of it. It's all coming. And crypto is right in the middle of everything. It's the key to all of it. And this is not punchy headline clickbait type stuff. This is serious. Who's talking about it? A very few people on the internet. and most people are gonna completely miss it. So, if you made it to this stream, you know, point yourself what? Pat yourself on the back. Um, trying to talk too fast here and you slow down. Tonight, we are beginning a new weekly series called Who

Writes the Crypto Rules. And it's going to get niche. It's going to get very category, right? Because there's different rules all over the place. Crypto was created around the idea that money and digital ownership could operate without a central authority, right? Decentralization fundamental idea and blockchain technology, what we call cryptocurrency market, right? Asset class. But the industry now involves exchanges, stable coin issuers, investment products, software developers, banks, decentralized protocol, custodians of your money and gaming economies, and millions of users on top of that. So every one of those activities actually touches a totally different part of law or legal framework, regulators if you will. So that is very complicated and that raises a deceptively simple question. Who actually controls crypto in the first place? Is it Congress? Is it the SEC or the CFTC? Is it the Treasury Department?

state governments, courts, developers, validators, token holders, or does the code ultimately make the rules? And we talked about all of these in a little bit of detail, but now this week, we get the the space to really go deep into all of it. And if you think this stuff doesn't matter, then that's probably hurting your crypto IQ. And there might be things in the way that things work in this market with the regulators, with the validators. I mean, do you know about data availability or a meme pool? Mev, maximal extraction value, that has to do a lot with your developers and validators networks. The point is there's a lot to this and if you just kind of close your eyes and don't pay any attention and and buy meme coins, you're not going to wind up with a portfolio

but a random collection of purchases and you're probably not going to really understand the direction that we're headed. And I think that's the biggest point here is to think long term. as I often say as I'm about to close out the stream, but I'll say it at the beginning today. And as you can tell, this is a serious stream that I'm going to be doing. Uh, I really feel like this is where we need to be. The last three, four weeks of series, I feel like are where we need to be for the time. The other series were great, but for where we are right now in the market, this is where we need to be. Locked in. Chris Goss 333, my fellow lifer. Let me not forget to check out the chat. All right, so let's keep going.

The answer is that all of them can exercise power, right? All of these different things from the regulators to the validators to the token holders and the code itself. But they exercise different kinds of power over different parts of the system. Kind of to sum that up, not one person has full power over crypto. They all have different regulatory or different power over certain parts of crypto and that's what makes this whole thing really interesting. You got to think that decentralization in a nutshell is kind of like a huge experiment globally and every new technology is and the implementation of that new technology. This discussion is especially relevant because the clarity act has passed the house in advance through the senate banking committee. but it hasn't become the final law. And the legislation is attempting to define the SEC

and the CFTC's responsibility while creating a broader framework for digital asset markets. And there's certain branches of the government and and and things like that that have a lot to do with the crypto legislation. We're going to touch on that in just a minute that you would not have guessed, right? Especially if you're not an American and live in America, then you really wouldn't have guessed. So tonight is not about deciding whether regulation is automatically good or bad. Don't get me wrong, we're not there yet. That would be skipping a beat and getting ahead of ourselves. We don't want to do that. It's all about going deep and finding that underground information. It is about building a map of the system so that we can understand what each institution can actually do. Where is their authority and where does

it stop? Where does it end? Because before the debate in the rules, before we debate the rules, we need to know who has the authority to actually write them. Pause for a moment. Here we are at the 4hour BTC chart. I love the way that we're starting this show here recently. It really it really uh feels feels right to me. Proper. That's the what I'm looking for. Are we getting this inverted head and shoulder? I don't know. What I'm a little bit more focused on this is very zoomed out. Although it's the 4 hour chart, right? Like you would very much see this on the daily. So you could see this on the daily if you were even more zoomed out. But the 4 hour does still tell this story if you zoom out, right? But let's zoom in.

We were above the 4 hour 200 day moving averages with the lier vision. The way that I understand things, what I've learned from Sam Price the lifer is being above 200 day moving averages especially on larger time frames highly important. So we were above it then we lost it then we rallied back above it went flat kind of Bart Simpson if you will right little Bart Simpson and then now we're dropping and we've lost that 4 hour again. So that's where we are right now. I take it moment by moment. Right now we are under the 4hour 200. Are we going to bounce here? Does look like there is a level of support and resistance here. Let me get my regular line again. How's everybody doing tonight? Let me know what's going on. I do have a fan running.

Is the fan too loud? Is the fan annoying? Can you hear the fan in the background? You might be able to. Kind of seems like there's some support and resistance right here. Right. You see support. Where's my drawing tool? You know, close enough to support, support, drop, resistance, and you even see a little bit. See those white those white bars here? It slowed down, then it broke through it, then it bounced off of it, and we're back again. So, we're there again, right? Of course, can't really ignore this big in pattern. [music] And it could obviously get another ARM. We'll be watching. I'll be watching. And I take I' I'm zoomed out on the time frames, but I'm taking it day by day and watching. I don't think that we're out of the bare market. 4hour cycle, 4 hour,

4year cycle to me says, hey, we're probably not going to put a bottom in until something like October, December, and it'll feel like the bottom of the market still for several months after that. Let's see. Did we put that we were live? So, let me go at everyone. We are live. Maybe people forget what time that we go live. Six days a week. All right. the quote of the day since we're talking about a lot of different things that whether it's regulatory government agencies or just validators and stuff like it's all human right except for things like code and stuff but there's enough there that this quote of the day makes a lot of sense if men were angels no government would be necessary and this is James Madison in the Federalist number volume 51 but think about that

if men were angels, no government would be necessary. Uh, humanity is not all good and that is why we need some kind of accountability. So, crypto tries to reduce the amount of trust that we place in institutions. That was what it was birthed out of the [music] collapse of back in 2008. But blockchains cannot eliminate human behavior, uh, competing incentives, frauds, mistakes or concentrated power. The real question is whether rules are enforced by governments, contracts, markets, committees, or a combination of all of those and several others for that. Prime Minister says, "Yo, hey everyone. Welcome in. Welcome in." Shout out to all my undergrounders coming in. We have had a great kickoff to this stream and this series this week, I think, is going to be really IQ raising, if not eyebrow raising as well. So, let's get right

into this. What you may not know, cuz I found this extremely interesting. I had to put this in the beginning of the stream, and you may not know this, but the Agricultural Committee helps write crypto legislation. Sounds kind of crazy that the Senate Agriculture Committee plays a major role in crypto policy. Now, if you're outside of America, this might just sound like, what are you even talking about? But we have agricultural committees that have a lot to do with writing legislation and because of the way it's been set up historically, it plays a role and I'm going to get into that. So the CFTC developed from a regulatory system originally created around agricultural futures including wheat, corn, oats, and other commodities. We're seeing the evolution of even regulation here. The Senate and House agricultural committees therefore oversee the CFTC.

Strangely enough, even though the modern jurisdiction extends far beyond farming and energy, metals, and financial derivatives and digital commodities, that is how they wound up in the middle of all of this. Meanwhile, or meanwhile, the Senate Banking Committee oversees securities, banking, money, credit, and the SEC itself. That means comprehensive crypto legislation may need to move through multiple congressional committees before it can reach the full Senate. Maybe that's the holdup here. Too much red tape. Too many committees, too many meetings, too many hearings. This historical division is one reason crypto's rule book is so complicated. The regulatory system was created long before programmable digital assets could, you know, behave like commodities or investment contracts before they were even ever conceptually dreamt up. Before they ever behaved as payment instruments, government tool, governance [music] tools, same thing and software access keys

all at the same time. The point here is they can do many many different things and so they touch many different regulatory frameworks, right? And that means a lot of people are going to argue over who has authority. A lot of people are going to put their two cents in and try to direct where we're going in the cryptocurrency regulation, you know, segment, whatever you want to call it. And so this is actually, I think, a very important topic. Let me get you guys over to the cryptobubble so you can see what I'm talking about. Here we are. Says, "I disagree, kind sir. I don't see October, December, more like July or August." Hey, I'm just going off the four-year cycle here. I mean, hey, it's speculative market. Remember that. You can you can speculate in whatever direction you

want. And to be fair, they're always doing something. You know, they've always if you've been following for a while, they always kind of do something a little off from what happened last time. So, it's very hard to keep your finger on it. It could happen a little earlier like we saw with the kickoff of the bull market through your um ETFs, Bitcoin ETFs really kicked off the last market and that was earlier than what we should have been and that maybe even caused it to end a little earlier than it was supposed to be. And so you could be right or this time around maybe it starts later. Maybe it's after December for a month or two. just really stir everybody up, mix them up, make them feel make the bare market feel even longer than it needs to,

as if it doesn't already feel extremely long. But everybody speculates in the direction that they want to. Uh I don't try to time the perfect bottom. So to me, doesn't really matter. I'd take even more time to buy and accumulate if I could. So 1 through 100 here. So, Pi network is down 20%, the XCI down 15.8%. Uh, Zcash down 6.7, hash or province network up 13%, and BDX Belladex is up 10.6. This thing sneaks in here sometimes. Lighter down 10%. Remember, we got a lot of big uh, you know, world global economic even type situations going on, things like Iran, stuff like that, oil, it's all very relevant. and also a news cycle. You could say even FUD or fear. Like there's a lot of different directions that they could use this in. And there's a lot of

different people moving and using it. So if you if you follow my drift here, there's a lot going on to navigate. Now is a good time to just sit back and pay attention and maybe [music] not try to make any moves unless you're just doing your usual accumulating when things dip hard. So Allora is up 24%. Uh, Billions Network up 14%. Velvet up 17.2%. ECash is up 20%. Not too familiar with ecash. That's interesting. Kite AI if they haven't already rebrand rebranded, right? Uh, it's just Kite now. And uh, BSV or Bitcoin SV and Guay is down 11%. This is kind of if you toggle the one through 1,000, [music] a lot of red. Biggest red is 8 to 900, but we got some 2 to 400 here. It's down like 2.2%. So, let's drop two to 300 here.

Lab lab fell from the top 100 to 100 to 200 range. And now you're seeing lab down in the 2 to 300 range. Uh it could be cooked. There are people who are speculating that this was all on purpose. I was reading, you know, somebody online, so that's, you know, not worth a ton and I'm not putting a lot of stock in it. I didn't run off and buy some, but they're saying, you know, the team did all this stuff on purpose. They timed it well around token unlocks and stuff. And uh there's a good chance they're going to pump this thing right back up. I have no idea if that's true or not, but somebody's speculating hard, I'm sure. And uh with every big dip becomes opportunities, but not every opportunity pans out to be a great success.

So it's down 40% today to 26 cents. Pretty wild. And you got to toggle you got to toggle that one month chart down 98.2%. Went from like $15 like pretty much straight down to like 20 cents, 30 cents. Kind of crazy. Is it going to come back? I don't know. We've had quite a few coins like lab do these kind of drops here recently. Let's do our rundown here and I'm going to take a moment to ask how's everybody doing. Prime Minister says yeah straight up hormuz is close again lol. Whole market is reacting to this exactly you know and uh it is what it is you know this is going to happen. There's going to be really good times. There's going to be really bad times and global events and they're going to be different type of events

and this is the one that we're navigating through right now. That's kind of the way that I look at it. You know, it's important but it's not everything. It matters but it's it's not life or death at least for most people right in the world. For a few people it is absolutely and I don't want to take away from that. Blue Sky says, "Exactly. I speculate. Positively, optimistically, uh, manifesting our bull run. Let's go. I'm all for that." Yeah, man. Accumulation. Grateful. So much read. But great time to buy. Exactly. And it's all about what you look at. Uh some people are heavily emotional and so every little dip like this that dips hard like they're freaking out tell you smart money is buying or sitting on their hands and waiting for a moment to buy you know and

that's what it is. Uh, usually retail is running scared, selling at a loss, giving the people with all the money great opportunities again. That's how this usually cycles. What side do you want to be on? And I know that I push crypto education. That's where I'm here. That's where I'm at, right? That's what I'm doing on YouTube. I'm trying to raise people's crypto IQ. I know it is an uphill battle is kind of like an overstatement, but for the few who get how important it is to understand as much as you can in a market, in an idea and a class and a technology and crypto really sits in the middle of all of it. It's why it's such a beautiful thing and I think these things will be relevant for the majority of your lifetime and that's why

I think it's so important to lock in. Now, you know, somebody once said to me, you know, there are certain times in global history or just human history where it's like a once in a lifetime opportunity. You could say that about Bitcoin and even Ethereum, but Bitcoin especially when it first came out and the people who got in and just became very very rich off of like nothing, right? But there's also this like idea that this cryptocurrency technology of course all the markets and the money that can be made but the technology especially could be very much a once in a species opportunity and that is where the gears really started turning and I had to go I'm gonna try to dig in and see if I think this is a once in a-lifetime opportunity or a once in

like a species opportunity and I think hundred 000 2,000 years if people are still here on Earth. I think they're going to look back and see this time as a very pivotal moment for technology, markets, the way the global economies work with each other, all of that stuff. And I don't think people see the writing on the wall. That's why I had to get on YouTube and do my best to get people to maybe look at it. Either way, I'm going deep for myself as well. Uh, let's see. Okay, look at the chart and I'll tell you the news. Exactly. Uh, Near, I see a pump. You're saying Near Protocol? Just saying. Yep. Near. Good AI play. I Yeah, nothing wrong with Near. I like that they rebranded the AI space. Uh, just always want to see them build

build any project and not just constantly swap category, right? Because then they never really finish anything. Bitcoin $62,315. Ethereum $1,779. BNB $567. B&B is something I haven't really got to accumulate. It's cuz I don't want to spread myself too thin and buy too many different things. B&B is something I don't hold, but B&B does make me feel like uh I really want a piece of that and I haven't got to stack up. But I would I would like a nice 10 grand to B&B and I don't have 10 grand to deploy right this moment. Right. XRP 100 100. Sorry, you guys probably just almost fell out of your seats if you weren't watching the screen. XRP A107. I don't know where I went with 100. Salana $7510. Hyperlid $63. Hyperlid's down 10%, right? [music] Dogecoin 7. Hopefully Dogecoin can

hold that 7 cents. I don't think I want to see Dogecoin much lower than that unless it is the actual bottom. 67,000 BTC potentially soon. Absolutely. XLM 18 cents. Again, XLM is actually building with JP Morgan and Wall Street and all kinds of stuff, network stuff. I know your XRP people don't want to hear that and whatever, but that's factual. That is that is legitimate. It's confirmed. Uh where it'll go and how much money that'll equal for actual XLM token that I have no idea. That's completely speculative. So Monero's XMR $320. Cardono 15 high 15 cents. It's down 14.5% after that small Cardono rally when it was small if you ask me. Uh, Toncoin Graham $160 DXC $4181. This DXE keeps hanging in there and doing numbers. Is it going to be like, you know, hyperlquid? Is it going

to rise to hyperlquid numbers? Not saying it's the same thing as Hyperlid. Again, USDG, it's a stable coin, but I just want to tell you that is Robin Hood network stuff. Just so when you see it, you see the little feather. That's what I think that's supposed to be. And that feather is also a symbol of Robin Hood. Uh Sweet Cents. And shout out if you saw my video that I recently did. I did ask for everybody's support in the Discord. Appreciate those who did support it. If you didn't, please go like and comment and watch it all the way through. If you if you open it up and you let it play for 30 seconds and you hit the like button and close it, you're you're actually doing more harm to the video than you are good. So,

just let it play in the background even if you mute it. I don't know why you would because there's good information in it, but you get what I'm saying. Memecore 21. It says memecore is another one of those like lab that fell down really hard, but Memecore seems to be doing better. Doesn't mean it's going to recover. No, it it doesn't. A a is one to really pay attention on. So from what I've gathered, from what I understand, uh the Lucas says it's hard to not want to buy ADA at 15 cents, right? But there's all kinds of weird things going on. If you're an ADA person, uh, Lucas, what do you know about, uh, Charles wanting to like take a long break, you know, from the Cardono Foundation? And what is a long break like he wants to

go to the Bahamas for or Hawaii for a week or the weekend or like next this next year? What is a long break? I don't really know. I don't follow Charles as closely, especially nowadays when Cardono has trouble really having much traction. But just know I do own a little bit of ADA and I would like to see it do well. Oh, check out ErgGo, bro. Okay, I I've definitely heard of Erggo. Not the first time I've heard of it. All right, let me say this real quick before we move on and I will look at Erggo. And again, these prices being low are very attractive. Again, ADA at 15 cents could be a great purchase, but is there better purchases? Is Cardono gonna get the attention? Like, think of it this way. Whether it's the next couple of

months or, you know, after December or six months from now, whenever we really start to move up, right? Is Cardono going to be in the forefront of things that we're talking about in the flow of liquidity or is this going to kind of hang in the background and over the whole bull market do like a two or 3x? A 10x. 10x would actually be pretty good. I don't know. I'm a little bit worried about Cardono, but we'll see. We'll see how well they know how to navigate this. They've been playing the game a long time. I would hope that they know what they're doing, but hoping people know what they're doing has never really done me very well. So, I just want to talk about a for a minute. There was, you know, the whole negative stuff that went

on with a news that came out. Banks, some bank and stuff was putting out information saying they're speculating that a is going to go to like $3,500. And I looked at that and I mostly looked at it as a news campaign of trying to save face and kind of help A's reputation since it had been a month or so since they had, you know, really negative FUD. And then I started to see and learn that A is kind of right at the center as the biggest DeFi lender and they're who a lot of the institutions and a lot of the the people want in with and want to use their technology and all their lending protocols and everything things like from Wall Street to banks to institutions people big money from tradi that matter right um this is heavily

important and so a may have a nice trajectory Tory and capital coming into it as we go into the bull run. And there you got to think that the smart money is not going to wait until we start pumping to buy. I think they're buying now. That's my speculation. Says not telling anybody to buy. Do your own research. Always. Always. If if you hear somebody say something on the internet and you rush off and you put money somewhere, doesn't matter what it is. Uh because there's tons of people all over the internet telling you to do stuff like that. It could be crypto. It could be anything. It could be stocks. Like, it could be anything. There's people out there trying to drive your attention and your capital. Let's go to highlights here. See what's trending. And if you

do that, you're at fault. It is not the person on the internet's fault. There's bots out here saying there's people saying crazy stuff on the internet. If you believe them and make moves in your life based off of it, that is on you. Never financial advice here is what I'm really trying to say. So, he wants to talk about Erggo. Let's bring it up. It's been a while since I looked at Erggo. Erggo number 816 by Market Cap. Let's go to the max chart so you can get an idea of how long this project's been around because it's not brand new or anything like that. Uh, and what specifically about Erggo did you really want to look at? So January 31st, 2018, right now it's down 97.4%. In the bottom of the bare market, it's actually pretty normal for

crypto projects to be down like 95%. If they're down 99.9%, that's a little alarming. This is down 97.4%. But like I think people see that and they're like, "Whoa, this thing's done." It could be it could be cooked. That goes for any project. I'm not really specifically talking about Erggo. I'm kind of just talking about anything in this in this sector, but know that a lot of your heavy speculators, big money especially, and I just mean people with like hundreds of thousands if not millions of dollars even in retail, they're looking for projects that are down 90 plus% 95 96% that are still decent projects. they just kind of got pushed to the side and didn't get the liquidity and attention they deserve, but are good projects with good building and technology, good teams and are highly likely to

come back swinging [music] in the bull market when attention comes back to this market. And so that's why I wouldn't just count this out on a max chart being down 97%. Plus, we've had some crazy runs in crypto. And again, remember that this 97% is all based off where the project was price-wise, market cap wise, when it first token generated. If it would have started up here, if it would have started way lower, it would be a different number. [music] And that should not be lost on you. This percentage number is not everything. I told you we're going to be going deep this week. All right? If you're at underground crypto, I want to provide that value for you. So, 17.5 million in market cap. Yeah, if you're here a lot, you probably feel a little bit of a

different energy tonight. Don't let it scare you. Soak it up. Even if you don't understand quite where we're going yet, you will. 97.7 million total supply. Circulating supply, 83.2 million. So, very close to vested, right? It's funny it says total supply and not max supply. But what the heck is it? That's probably what you're asking yourself if you're not familiar. It's a layer one, zero knowledge, proofof work, privacy, blockchain, all of those great narratives. Still, that's another thing people are going to be looking at when they're looking at, you know, how much a project's down. What are the narratives that it could pump on? Because let's face it, a lot of the time the markets, doesn't matter if it's stocks, doesn't matter what it is. Oil, look at oil right now. You're not trading just an asset [music] and

the the raw value of that asset globally. You're trading emotion. You're trading how people feel about that asset or that item like oil, that commodity. Would it be a commodity? I guess right now, right this very second. Go look at the oil chart, whatever. It it's it's right here, right now. What people feel about it right this second. This is not all that different. And so when layer ones pop or zero knowledge becomes a big deal or most likely of all privacy blockchains become a big deal, people are going to speculate on if this can run. Uh, nope. Erggo is the OG. The interesting thing about Erggo is that it's the only BTCbased UTXO system with smart contracts. That's very interesting. See, prime minister really uh prime minister definitely bringing the sauce that we do rely on you for.

Thank you for being here. Blues guy says, "Nobody is forcing none. Own your mistakes." Exactly. Very difficult for people to do. And if you're here, smash that like button if you haven't done that already. Your boy puts in hours of work every day. We're live like two hours. I got to set up the stream. I make videos. All of that good stuff. Reals. And so, uh, I'm I'm grinding in the bottom of the bare market. whether anybody's here or not. The beautiful thing about this to me is I'm here for you guys, but I'm also here for me. I love what I do. I love this. I think that this uh market and things is going to be relevant for easily another hundred years. And whatever is built on top of that is going to be relevant for another

hundred years, if not more. I think it's a big deal. That is why I'm so passionate. That is why I am yelling into this microphone at you right now. because too many people look at this stuff and they go, "Ah, I'm not [music] I'm not smart. I can't know. I can't know things." Don't do that to yourself. That's self-sabotage. And that's my opinion. So, anyways, ooplatform.org. Let's check it out. I like that it's proof of work. I like that it's zero knowledge. Uh, homorphic encryption, zero knowledge. These are great words to have associated with a project, especially when you're trading human emotion and speculation. That seems to translate often into narratives. certain things run they all run together. Very very good information to know. Uh Charles from Ada talks about it a lot. Okay, good to know. I actually

bought some yesterday. They still developing. They got the rosin bridge coming. I've heard of the rosin bridge. Erggo is very good blockchain with some history. It just hasn't had institutional adoption. In the early days, the grassroots projects thrived without bankers. ETH was originally this. Yes. And we're in a different market, a different environment. That's why raising your crypto IQ is so important because everything is built off of the foundation before it. And that's everything, not just this market. Everything in this world is built off of somebody who did something before, somebody built upon that, right? Music, whatever, math, whatever. And so what we're trying to say here is that we're evolving in this market and institutional money, banker money, all of these things matter so much more than they ever did before. It's not about retail pumping and buying

things. And honestly, retail collectively doesn't have the money that these people have to pump things. Powering the future of finance, Erggo is the next generation smart contract platform that ensures the economic freedom in ordinary people through secure, accessible, and decentralized financial tools. So the next part we come into is also like usability product. What is the product here? Proof of work is great because you can mine it. You could get some uh [music] prime minister. What do we know about the what do we know about the proofof work protocol here? How easy is it to mine? What is the difficulty level? Can I mine it from GPU? Can I download it straight onto my computer? How hard is it to mine this proofof work blockchain consensus? Uh Charles from ADA is from the ETH team. Yes, Charles was a

part of Ethereum and then he didn't like the way that they went about it when they forked and Ethereum Classic was born. Ethereum Classic is actually Ethereum originally. Then it forked. Charles didn't like Charles is a real kind of decentralized uh philosophical code is law person, right? He didn't like that Ethereum ultimately decided to roll back the hack because Ethereum got hacked. They lost most of their money. That's why Ethereum Classic is so cheap. Well, they decided to roll it back before it ever happened and fork the code. Charles didn't like that. And as a fundamentalist philosophical kind of person, I get it. I I would I agree with him. I also agree, well, not agree, but I also understand why they didn't want to lose all that money and all that stuff in their network cuz it hurt

him bad. You can see what happened to Ethereum Classic. I think is what would have happened to all of Ethereum and somebody else probably would have came in. But long story short, that's why he left and he started Cardono. And Cardono, that's why Cardono is so heavy philosophical deep like principles and not just like fly by night memecoin culture. Like that's why it doesn't have that element. And he's playing a long game. He's thinking that the seriousness of what they're building is going to matter 50 years from now. Not so much being relevant in one bull market or the next. Anyways, uh ASIC resistant GPU and CPU minable very easily. Okay, I agree. I said the same thing. ETH Classic is the real ETH. ETH uh POS proof of stake is actually the fork. Absolutely it is. Cardono is

hardcore ancient uh cryptography. Exactly. I mean, go look at go look at Cardono's road map. It would be a great topic of a stream. It'll happen at some point, but it's not heavily relevant right now, so it's going to have to wait. But look at their road map. Look at every stage. Look at who they chose to name every stage after. Look at it's it's far more serious than you realize, but it's not getting the speculative attention cuz let's be honest, uh, crypto mostly likes cat coins. I said it. Robin Hood built a serious chain to bring Wall Street and the serious bankers and institutions on chain and people use it to make meme coins of cats. All right. So, let you do with that as you will. It doesn't take anything away from them. So, this is Erggo.

We could probably do a whole thing on Erggo, but we are getting a little off topic. But, I appreciate you bringing it up. I'm actually going to leave it up, right? Because we could come back to it in the deeper segments of the night. These streams could be 8 hours long. They really, really, really, really could. And for those who are really here trying to change their life and locked in, information is power. It always has been. It always will be. So, what's trending today as we try to keep ourselves on pulse with what's going on in the market? Even if things are a little weird and we have political global events going on that are maybe bringing us down a little bit, bottom of the bare market is not helping anything. Concordium is trending. Lab is trending. Uh

you'll see things trend when they do really well. You'll see things trend when they don't do really well. So I always say it's trending but for all the wrong reasons as it is down 98.4% in the last 7 days. But this kind of thing, if there's any shred of evidence that they could come back from this, there's people with big money who are going to at least take a small gobble or a small bite on that. Uh because that is opportunity. Uh, Pudgy Penguins, probably the strongest NFT project in the game. Not saying a lot because there's z almost zero competitors there. Maybe board a yacht club, which got a little bit of pumps recently, so it's still alive. Bitcoin's trending. ADI, we'll come back to ADI in a minute. Ethereum, Jupiter, Blackbolt, Anom, which apparently was not actually

uh launched by Anom. Anom is a co K or a dev, I guess you would call him. I'm still learning that world. Prime Minister is my guide. I've been learning a ton from him. I appreciate anybody who comes into the this ecosystem. Helps me learn. Hopefully, I'm of some value to them as well. They must enjoy the show cuz they come back. Shout out to Blues Guy who's very in the Flare ecosystem. I've even done videos with with Blues Guy about the uh Flare ecosystem. And actually, let me take this moment to do something I I really meant to do the other day, but Prime Minister didn't get here till late. Prime Minister, I'm going to make you a mod on this channel because I mean, you've earned it. You come often. You've been super knowledgeable, very welcoming into

your, you know, your knowledge [music] and communities that you're in as well. Just so many good things that I can say about you, brother. I appreciate you being here. And let's see. How do I make you a mod add as a moderator? Yep, there we go. And the more moderators the better. I can't expect, you know, everybody to show up every day. More moderators, the more likely I have somebody in the chat if I need them. All right. He's still kicking out the information. There is an RS ADA on Argo. Erggo actually. Okay. Sigma protocol is gamechanging. It's just ignored. Again, that was what I was starting to say a minute ago is that a lot of stuff in crypto that is techheavy and visionarium and forward, it doesn't get a lot of speculation with money because people don't

understand it. It really does have to go through the depths of things and prove itself and then be found useful by institution or people people who have the mind and money and and means and need to implement it, right? [music] And so you very much have that where things can do really really well, but at the same time it doesn't mean that the market's going to speculate on them. Anom bought soul at $2, shield meme coins, got rich, gained clout. That's the story. Yeah, that's who Anom is. But, uh, I believe you told me, Prime Minister, that Anom didn't launch the Black Bull. It was some different dev named Superman is his alias or whatever. A lot of them don't go by the real names, obviously. And so, yeah, keep that in mind. Says, "Okay, cool, bro. I appreciate

that, Eugi." Absolutely, man. I appreciate you. You don't even understand how much I do. A monster in the making, says Blues Guy. That's what he's talking about. Flare. Uh, I'm banning everyone now. Have a good day. Lol. Just kidding. That's hilarious. Uh, we'll we'll have to fork that. We'll have to fork that chat to roll it back to when uh you didn't have moderated positions. But, you know, code is lost. So, I guess I'm just going to have to leave everybody banned. Prime Minister, put me in timeout. I don't know what it looks like. Two minute hooking. Yeah, exactly. This is not hockey. All right, Cash Cat still like uh this is why I see opportunity here. Not in Cash Cat. Cash Cat's already ran. I don't really know how many other people are going to come running into

it. It's still got 160 million. Even right now, it's actually holding up pretty well. But I I mean, it legitely is up 109 million%. That is insane. It's insane. It's up 109 million%. I wish I would have got just 1 million% gains would have been fantastic. To put that into perspective, I'm pretty sure Sheba Inu from its inception only did a 1 million% increase. I could be wrong. Maybe you could have got in earlier on it, but still it's pretty wild. And we've talked about a few coins. This is not the memecoin show. If you're into meme coins or trenches and and you want to know more about that as I'm digging in and learning more myself, strategies, all kinds of that's going to be in the membersonly stream, which is immediately after this stream. And you have to

be a member. It's $3.99 a month. I'm not out here charging an arm and a leg. Honestly, it should probably be more expensive, but we're still working it. We're still building more value. And I think the trenches aspect combined with what we already do over there is going to be really important. We're always looking for opportunities. Free money that you can roll uh and make more money off of. It's free money. Why wouldn't you do it? Take the [music] free opportunities, opportunities, AI, uh all kinds of different things that we do over there in that membersonly stream. and we're still trying to figure out what the members want. So, come over to the members only stream if you have the membership. It'll start about 10 o'clock or it'll start about 10:30 between 10 o'clock and 10:30 and [music] that's

where we can talk about whatever you want to talk about as a member. So, there's power there. A lot of these big channels that a lot of people follow are so big you can't really get an answer, ask a question. Take advantage of the fact this is a smaller channel. So, we got Cap. So, there's two projects so far I really want to look at here. Jetto Manad Lighter and Aerod Drrome. I know I'm talking a lot, but hey, that's what we're here for. We're here to really work things out, try to deep dive and figure stuff out and compound that crypto IQ, that education, and really take us somewhere over time. One day of watching this show may or may not do anything for you. Who knows, you could come to the show, I could teach you about

tokconomics. you never knew tokconomics could do a lot for you in one show. But the compounding interest a month, six months, a year, you're going to know things you never thought you would know anything about. How about uh angel investors and venture capitalists and knowing who matters and who doesn't matter, who's top of the line, who's not. We do that. A lot of people don't know that stuff. It could mean something to you at some point. Remember that success is very much being where you need to be at the right time, but also being prepared. You could be there at the right time, but if you're not prepared, you don't know what to look for. You're not even going to see the opportunity. It's going to walk right by you. And that is why some of the most successful

wealthy people are successful and wealthy is because they have educated themselves a lot of times in a very specific niche [music] and they see the opportunity that most people are oblivious to. ADI, let's talk about it. Uh, ADI token generation event as far as Coin Gecko is telling me is December 8th, 2025. So, not all that long ago. Tokconomics a,000 million. You don't usually see a,000 million because, you know, that's a billion, right? So, that's Oh, that's why because it's 9999. It's It's just one short of a billion. I was like a,000 million. Never seen Coin Gecko write 1,000 million before. Very weird, but they're probably changing things. Uh, circulating supply is 125 million. So, whoa. You can imagine most of this is not out in circulation. It's a newer coin, so I'm not exactly scared of that. Right.

Prime Minister says, "Nope, Superman did it. He's talking about the Anom coin." Yep. Too many. All right. We are where we need to be. Where's Camstone? Ozo, are you out there? Maybe he's watching me on his TV. I keep track of people like not because you owe me anything, but because I really just enjoy people. Good people that is. And uh when I when good people come in here and chat, I love to surround myself with you guys. So, if you're here, I appreciate you. Just know that crypto family. Crypto family we call ourselves here at Underground Crypto. So, Ethereum contract. So, it's an Ethereum project infrastructure. It is a layer 2 probably on Ethereum. How many layer twos do we have on Ethereum? Uh, it's kind of crazy. Again, Robin Hood is a layer two. It's the newest

one to join. Base is a layer two. Like, what is Kraken's layer 2 going to be called? Does Kraken have a layer 2 on Ethereum already? [music] That would be a great show, but that's not today's show. Let's go to Token ADI Foundation. the blockchain for real world impact, they say. Let's see. Do I have any other Okay, just a straight up foundational website. I don't quite want to go there. Uh, where we at? Here we are. Too many tabs open, I must say. So, the blockchain for real world impact, why ADI chain legacy chains fail regulated economies. Again, that that immediately just reading that one line, I didn't read anything else has the word regulated in it. cues me in on this a newer project. Regulation playing nice. That's probably where we're going here. Let's see if I

have if I'm right. Public blockchains lack built-in compliance. Enterprise chains can't meet open global interoperable standards. This fits very much with our narrative that we're going to be getting into shortly. Uh, this whole show, I I'm telling you, this whole series is going to be heavily heavily raising your crypto IQ. Your head might hurt when it's over, but you'll be very glad you did it. If you care to know information that could help you change your life, both fail short or fall short for sovereign grade payments, identity register, infrastructure. Basically, what we're saying is uh blockchains lack a built-in compliance, right? So, you might have been doing all great before all this compliance and regulation showed up to the party, but once the standards start getting set, if you're not up to par and you don't have any ability

to prove even that you're up to par, it may be a problem for your blockchain, your project. Ones that are up to par are going to be favored by everything from banks to to, you know, put it this way, institutions, banks, big players, they come in. If there's things that are provably regulated and and on the up and up, they're going to choose it every time. That's where the money's going to flow because they're not going to choose random stuff. Before, for a long time in cryptocurrency and assets, like it didn't matter as much because nothing was compliant. Nobody even knew what compliant was. That was the biggest complaint. Gary Gensler, the SEC, all that stuff, Ripple lawsuit, the big complaint from all of crypto was the whole time that you're playing a double standard. You're not telling us

what we need to be doing. And then you're turn around and trying to find us millions, hundreds of millions, if not billions of dollars to your own advantage for not complying with rules that you never told anybody that don't actually exist. Now we're getting out of that framework. Gary Gendler's gone. Blah blah blah blah blah. They're putting the regulation in now. And now it's going to matter. This is the evolution is what I believe you need to pay attention to as we're talking about liquidity flowing into projects. liquidity flowing flowing into projects is money go up right price go up what most people are focused on but they don't know why it happens tookomics is a big deal but you can have the best tokconomics if liquidity doesn't flow into the project the price is not going to move

ADI Ethereum security and L3 compliance so after regulation it's very important that you have security as well so here's their solution here zero knowledge rollups some of the best security blockchain technology we have so far and zero uh fully homorphic encryption goes right in that architecture using air bender proofs uh settling on Ethereum native L3 framework enables jurisdiction specific compliance modules without fragmented liquidity Ethereum secure settlement. I mean you could just read these but I like to go a little bit deeper than that. Have I lost everybody? Throw a 111 in the chat if I really am uh pushing your limits of ability to understand what we're talking about [music] and throw a 3 I3 if you're right in here with me and you understand the value of information or you're able to soak it up is what I'm

saying if you're following along. Digital infrastructure is reshaping. Governance governments are building digital payment rails, identity systems and asset registries. Stable coins regulation is accelerating. ADI is positioned for this transition. So I can see use case. I can see why ADI would be speculated on. It's listed in a lot of places. It's very easy to get. So liquidity could come flowing into this thing. It launched December 9th, 2025. It's been around a little while. So, now that we know all of this stuff about it, let's back up and take a look. It's been around a dollar. Now, it's chilling at seven. It's on a recent pump. So, right this very moment might not be the moment to buy it. But, I do believe that ADI. And what am I searching for? I am searching for uh a white marker

because my table is glass whiteboard marker. And I want to write this down because you could pretty much expect a video on ADI coming soon. We're getting back into our deep dives, our research specific long form videos. And ADI seems like a great one to do one on. Prime says, "I'm back with syncing a wallet." Totally understand. Melissa says, "33. I appreciate uh you letting me know. Hey Melissa, I'll resend that transaction got reversed. Lol. You were right. It didn't come. And uh shout out to to Prime Minister who sent me a little bit of Salvium, a project he's interested in. He's putting his money where his mouth is. He sent me a little bit. He got my interest. And then I I bought another 10 bucks worth. I need to buy another 10 bucks worth. small amount of

money in some of these very speculative projects if there's a reason to speculate on them could really become life-changing money. It's happened a million times to million. I don't know. I'm using random numbers. It's happened to people for sure and more than a couple. I mean, look at somebody who to put $85 into Cash Cat. I don't even know when they bought it. You could probably do the math, but they turned it into over $2 million. 85. $85 into $2 million. Most of most of you, if you knew you were getting that kind of return, I every single one of you would have $85 to put in. Some crazy gains, crazy things can happen. And that person's life is probably changed. But here's the real kicker, and this is super important. A lot of us want to change our

life. Everybody wants to hit some kind of crazy gain like that person did, $85 into 2 million or more. But if you don't educate yourself and you don't know what to do with it, you're probably going to mess it up. You you'll probably see some fun times, some good vacations, maybe a house. It will matter. It'll matter in your life, but it might not be generational wealth to you if you don't know what to do with the money. If you don't understand money, if you don't understand value. So many beautiful things to talk about here at Underground Crypto. Cap. So cap's about almost 2 cents. 019. That's like one tick away from It's actually 198. Like it's basically two cents. But what is [music] cap? 10 billion max supply is what it's capped at. And 1.5 billion circulating. Still

a ton of coins to come out into circulation. If you don't understand tokconomics, throw a 111 in the chat. I love to tell people tokconomics just because it's so simple and is a huge game changer if you don't know it. Uh June 25th, 2026. So literally not very long ago. This is a very new project. Cap is an app. Ethereum contract. Uh BMBB smart contract, good places to be. DeFi borrowing, borrowing and lending, right? We do see a lot of borrowing and lending. Uh it's not very often that I get blocked from going to websites by my anti virus. So I do trust it because it if so if it was like every website, I wouldn't trust it. So cap is out there. It's only got $30.4 $4 million in it. We'll be paying attention to it, but um

I'm not going to go to their website right now because we don't really need to. You just need to know that it exists, that it's lending, you know, lending protocol, that it's on Ethereum. That's what's really important here. Let's talk about that fear and greed index. As far as layer 2, there is many we don't really need more. Yeah, exactly. It almost is like it's almost like at first layer 2 was like I'm going to build a layer 2 project for what layer 2s are supposed to do right for for rollups optimistic roll-ups which is what they were all at the time pretty much transferring into ZK roll-ups which is a better technology a lot of times they work hand inand they have both going on the point is at first layer 2 was just about taking a large

amount of transactions batching them into on transaction pushing them through on the main layer one and really bringing the fees of Ethereum down. That was like the big deal at first. It was a solution to congestion and congestion in the blockchain. Ethereum's layer 1 was causing high fees. That's the only reason why anybody cared about it. Your average user would have not cared about congestion if it didn't equal long wait times and the price of the fee for using the network going up drastically. There would if if people if that didn't happen, people wouldn't care about layer 2 because they would have never made them. There wouldn't have been a problem. But that's what a layer 2 does. Now moving forward, a layer 2 is just kind of a better technology to build your project on. So, at first,

layer twos like Polygon and stuff were just really about arbitrum were just really about being a layer 2, and they're not anymore. They're about a great technology to build your project on, right? [music] Like, don't just build your project on Ethereum layer 1. Build it as a a layer 2 because of all the perks and things that go along with being a layer two on Ethereum. That's my understanding. If you uh if you know better than me, drop it in the chat. Fear in greed index 22. I told you guys we we got out of the extreme fear into that that regular old everyday vanilla fear and I I knew it wasn't going to be long and here we are. We're back because we're still in a bare market. Yesterday was 28. 7 days ago was 27. I didn't

stream yesterday and now we're back at 22. Just keep it in the back of your head where the fear and greed index is at pretty much all times is what I do. You do what you want to do with your life and your money. I'm just here to give you information. Yeah. You only need one good trade. That's all it takes. Yes. And if you you know it's that old saying, every shot you don't take, you miss. Now, you could go take you might have $10,000 and you might go throw $1,000 into 10 meme coins and lose all your money. Highly, highly don't recommend doing that. Um, but that doesn't mean that you're doing it right. But what tends to happen and what I've watched is people oversp speculate, overput too much money, lose all their money, and then

they're mad and then they don't have any capital and then they're out of the game and then they never get to do anything. They never get to turn $20 into a hundred grand because one, they they they messed it all up in the beginning. This is why education can be highly important. We're going to be talking more about this. And if you want to know kind of more of the trenches, trenches are a launchpad. Small coins. Sometimes they're meme coins. They're not always meme coins. They're just super low capital or low market cap coins that are new. Sometimes they're meme coins, most of the time they're meme coins, okay? But a lot of times they're serious projects. Salvium is a good example of this. It's not a memecoin, but you don't want to over risk. If you care about

that kind of stuff, if that's something you're interested in, you're going to want to come to the membersonly live stream, which is directly after this stream between 10 and 10:30. And you're going to want to ask questions. Uh, Prime Minister says, "Many people have lost everything. So many ex-crypto millionaires. [music] Is one thing making money, but learning how to keep it is another." Exactly. And it's learning how to keep money and things like that. There's going to be a learning process if you've never had money and then suddenly you have money. Like you're gonna have to learn. Hopefully you don't blow all the money before you learn. But at the same time, it's also understanding value economics where value what value even is. Money is supposed to represent time stored for value. Anyways, DCRED, ECA, Axon Finance, Strategy, Threshold,

USX, Atleta Network, Kite, AAI. See, they do still have the [music] AI, CYic, as I like to call it. I don't know what you're supposed to call it. Uh, a lot of these are projects that I'm saying their names for the first time in my life. I have no idea. So, I might mess them up. You might call them something different. Arc Defi, but this is like DeFi where we put AI at the end and in between the F and the I, right? I hope you get it. It's there's a play there. When you see that kind of DeFi, Defia or whatever we're calling it, uh, that's AI, right? Junction, Pi Network, Lab, Synapse, which I know Melissa owns a little bit of. Athena USDE, Aerial or Aerel, I don't know how you're supposed to say that one either.

Uh, Dogean Mo, of course, 5.2 years old, not new. DXE Billions Network and Cosmos Hub. We're going to start at the top here. Decarred been around 10.4 years. I don't know if it's really relevant or worth going over. Ecash. ECash [music] is that X XC, right? Been around almost 5 years. So, we're going to skip right there. We're going to come into Axon Finance that is in a funding round. So, we catch coins all the time before they even have a token. And we're already looking at who's backing and funding them. Is it Coinbase? Is it a tier one, you know, venture capitalists? People who are known for having good picks and a good eye for things that are going to do well. Or is it like this coin where I don't recognize any of these people? We got

BMF, uh, UZ Capital, and Infinite Alliance. I don't know any of those. Right. Prime Minister says lab rug rugged. I read an article. The team just dumped everything. That's what it seems like. It held up a little bit and then like today it's at 26, right? 26 cents. I saw people in there and it was probably by the people who were about to dump it saying, you know, hey, this thing is it was all done on purpose. It's going to come back. Come pour your liquidity. It sounds perfect for some exit liquidity after a lot of people have already exited. That's why you can't believe what you see on the internet. So, Axon Finance got finance in the name. That should tell you everything. It's on AI as one of the categories. You got payments [music] X42 protocols right

in there. Remember, there's no token here. This is speculation about what this could be. Axon Finance is a AI native layer 1 blockchain providing non-custodial treasury infrastructure and [music] gasless payment routing for autonomous agents. So, Axon Finance. Yeah, we just covered that. All right, cool. And then these are the different people who are involved here. You won't hear a lot of people talking about that kind of stuff. Let's go look at the website. Says, "Crazy, man. People who bought at the top got absolutely slaughtered." Yeah. Oh, yeah. And uh man, I would say bottom of the bare market activity, but I mean it's really just activity in crypto. Things happen. Was it Sometimes things just go terribly wrong and then people give up at the end and they just dump everything. Could have been genuine problems. There was bad

press. There was people making accusations. I think that fueled the beginning of the dump on it. Did they just give up and throw their hands up and sell whatever they had at what? Who knows? I Lab was not one that I followed a lot. I do know somebody who had had Lab. I hope that they sold it. He was selling in and out of it. So, there's a good chance he had sold it at that top. Wow, that's messed up. Crypto is becoming rugland. Melissa, crypto is been rug [music] land for a long time. But that doesn't mean that some people aren't building amazing things. So I guess that's that's why we call it the wild wild west, right? Of the digital landscape. Money settles on Axon, a high performance AI native layer 1 blockchain built for PayFi. Are

the days of layer 1 blockchains doing extremely well as a category and overall over or is that going to still be a big deal in the bull market? They come up with great projects and ideas and then screw people over who believe in them. Yeah. And there's many questions. Not everything is a rug pull. Uh startup companies in regular non-digital realm, you know, regular life, startup companies do the same thing. They have an idea, they do things and it a lot of times it doesn't work out and people get hurt, especially when they make it to the stock market and people highly speculate on a new up andcoming idea or company. It's not new just because that's a part that I that I don't know why it bothers me, but it it's just like the hacks. A lot of

this stuff is not new. It's just being done in a digital landscape with the old playbook that they've done forever. Some people come in doing it on purpose. Some people just do things that are new and innovative and it doesn't work out. Like it's just not a good idea, but they had to try it. That's what gets us farther in markets. So, it's hard to know, right? Anyways, this is Axon. So, why does money still move at T plus two? I don't know. I think they're going to tell us, right? Native by design. So, this is a financial layer one. Back test the copy trading engine. So, it does some copy trading. It's got AI in it. Autonomy under control. Has some really interesting narratives. yield on money in motion on rail every flow. I could I'm not going

to lie, I could see this project doing well. Now again, like lab like anything, does this project actually have the information and and the things that they say that they have? Do they actually have backraded, you know, or yeah, back tested copy trading? Do they have any of that? Are they going to be a copy trading product? Very interesting. thing. So, you kind of have to take a day at a time. Let it come out. Try to explore it. See if it's real. Yep. Eug right. It's always been rugland. Exactly. Matter of fact, it was worse before regulation came. Exactly. That's why uh fundamentalists are super important. You want cryptos that actually solve and try to solve real problems. Exactly. And that's why you kind of got to even know who's behind projects and teams. It could be difficult

because there's risk to people exposing who they are. So, you never know if a team is not fully docked because they're worried about their safety or because they're a bunch of ruggers. It gets it gets real out there. That's why you got to have strategies. Speaking of strategy, and I didn't do that on purpose at all. Uh, Micro Strategy is publicly traded business intelligence company is what they're calling themselves. They're an intelligence company. I mean, they own Bitcoin. That's what we all know about them, right? Uh, strategy. This Why is this here? Uh, central finance. It's in a funding round, so there must be a coin coming. I'm a little confused. Micro Strategy is already publicly traded. It developed and provided enterprise analytics software that has been operating in the software industry for more than 35 years. The company

is also known for holding large Bitcoin reserves as part of its corporate strategy. Honestly, this should have been obvious and I should have probably already been tapped into it, but I don't think many people knew Strategy before, you know, Michael Sailor and their Bitcoin reserves, but micro but strategy itself, I guess, is a software company, right? Like they they do more than just hold Bitcoin. I think a lot of people think strategy, their whole business is just holding Bitcoin. Apparently, it's much different, which means they have um they have money flowing into it. They have capital to pay debt. That's my assumption. I don't know how well they do. Uh let's see. USX is a stable coin. We're going to start when we come with stable coins. All we're going to do is we're going to see what network

they're in. Salana. It's a Salana stable coin. Fiat pegged. It's in US dollars. So, that tells you which fiat it is pegged to. Arc Defi I've been around 1.1 years. What's going on in this chat? Uh that is why. Yep. Yeah, exactly. It's not easy. You got to know who's behind it. Yes. You got to kind of have some idea of who they are, their track record. And again, a lot of people trying to protect themselves. they really are somebody and they really are about to make potentially a lot of money in things, they can become targets. We've seen it many times before. And we're not talking like a a million dollars or hundred million. You're talking about a billion, two billion. You become a big target in the in the world if somebody thinks they can take two

billion dollars from you. Probably huge organizations probably come after you. I I don't even think I necessarily ever want to be in the position to have [music] to watch my back like you have $2 billion in the bank. Uh hopefully it doesn't happen overnight because then you're just totally not prepared. So ARC Defi or Defy, I don't know how we want to say that. I just say ARC Defi and then just know that it's AI is a protocol combining modular economies and AI supported DAO governance. Maybe AI supported Dows cannot get taken over like happened to Bonk. And I don't even know what happened. Is is Bonk just now run by some random hackers? They weren't hackers. Let's not call them hackers. Uh fraudulent people. What they did was dishonest [music] at the least, right? But what they did

was totally legal and within the way things are supposed to work. They exposed a huge flaw in the system there. Uh 5.6 6 56.5 million market cap. Been as high as 446 million here for this Arc Defi. Let's go take a look at their website. Melissa says, "Guys, don't forget to press the like button or you might get rugged." Just kidding. Wow. Well done, though. That got people's attention. Uh, Ark Defi, the future isn't controlled by human governance. It evolves through algamarithmic models and collective consensus. Arc doesn't dictate the future, it unlocks it. Shifting governance to AI algorithm, trust to open source and code in decision-making powers back to every users. Arc civilization. Civilization born from control, not computation. Feel like I didn't read that right. Civilization born not from control. Okay, so they're saying this is civilization born

from computation from institutional rule, algorithmic governance, from onchain economy, a prototype for intelligent digital nation. This seems like a lot of people's worst nightmare, [music] a digital nation. O, you got a lot of doomsdayers just rolling around on the ground right now. Rug town. Y'all are hilarious. All right, let's pop back to where we were. It's one of those shows where I've been talking at a million miles an hour. So much good stuff. And the more I do it, the more that I have a million more things to say. Sometimes I got to pump the brakes and slow down because I don't know if everybody's ready to go with me at that speed. Really, all that's left here to really talk about is this arrow. We'll do that and then we'll get into our topic of the night, which

might be quite intense by itself. Definitely don't want to land there. Rug town. Yeah, exactly. Do our best to stay out of rug. All right. Arrow is in a funding round. They've raised 1.4 million backers like look at this. Look at our backers here. Circle tier one venture. Circle group USDC circle group on the stock all that and stellar XLM. I'm telling you, a lot of people sleep on a lot of the XRP XLM stuff. We just did a whole series on it. It's funny because it would have been nice if a lot of this information was as [music] known now. and confirmed. Maybe it was then, but I wasn't finding a lot of like real confirmation. Your biggest people on Wall Street with over 87 trillion dollars. 87 trillion. You didn't mishar me. 87 trillion versus stocks that

they keep they don't own them. They they keep record of them, right? But that's a lot of money theoretically. and uh they're building with XLM and over 50 companies including JP Morgan and stuff like that. It's a big deal. Um and then they're backing this kind of pro. Why? And who knows, they could just be throwing money because they think it's cool. But it's an institutional grade B2B digital asset infrastructure. What does B2B stand for? Banktobank maybe? Asset infrastructure. So wait, this isn't all right. Just cuz you know that Swift said, "Hey, we're just going to build our own blockchain infrastructure." This is not a part of that, is it? Bankto bank. Is that what B2B stands for? Institutional grade. Uh that sounds exactly like what Swift said. Hey, we're just going to build our own thing here. This

might be worth keeping on track. The other problem that I have is it only has $1.4 million raised. something that was like a chosen project built by like Swift. I'd probably at least have a hundred million dollars in it, right? I don't know. The United States of Rugs. Is that where all the Salana uh devs live? Is that where everybody from pumpf fun is? is from the United States of Rug just rugging each other. Anyways, that covers the section of the night where we're looking at new coins, stuff like that. Now, we're going to run into the topic of the night and what is the problem. So, we always start with I feel this lack of eating any food today. catching up with me, but I'm going to push through because we still got a little bit of time

here. The problem, everybody keeps asking the wrong question. The common question is who regulates crypto? But that question is fundamentally flawed. And here's why. Because it assumes crypto is one thing to say, who tells crypto what it can and can't do? What is crypto at its core? a blockchain technology, a consensus network. There's multiple of them. So, what are you really talking about when you say who regulates crypto? Imagine someone launches a token to fund the deployment of a network, a layer one. The token is later traded on an exchange. That's one type of regulation. Transferred through a wallet. That could be a separate type of regulation used inside a decentralized application. Again, you get the point. a different type of regulation deposited as collateral and then governed by a DAO. You've touched so many different regulatory frameworks here

that um it would make a regulator's head spin. I actually heard someone say that before. Most rugs come from the States. Could be. I don't know. Or could it be the middle of you know somewhere like India or Pakistan? I have no idea. So that same single token can touch several def completely different activities. Again, same idea. Capital formation, security transaction, commodity trading, money transmission, custody, taxation, sanction compliance, customer protection, software development, and protocol governance. You might have been in crypto a long time. How much time have you spent even pondering this question? Crypto is many, many, many things packed into one. who gets to say what goes and what doesn't go when we get into the legal legalities of actual regulation. Is this a big part of why we don't have clear regulation and why they didn't want

to touch it? Could you imagine how maybe the people who do the work of regulating maybe felt very overwhelmed? It's not a good excuse, but I could see why they were very overwhelmed and they probably didn't know where to go and they said, "Uh, let's give it a little bit of time and see if it even works out. we might not even need to deal with it. It might just disappear. The regulatory the regulator does not necessarily begin by asking whether something is crypto, right? That's not their focus. The regulatory regulator asks what activity is happening and who's performing it, what was promised and who has control, which existing laws already apply that we already have. That is why two companies interacting with the same token can have totally and completely different obligations. One of those companies could be

a centralized exchange and the other one of those companies could be a startup project on Solano and they both interact with the same token but the rules that they need to follow, who they need to report to, what information they need to keep for you know taxes or whatever can be totally different. A person buying Bitcoin for themselves is not performing the same activity as an exchange holding customer Bitcoin or any crypto. A developer uh publishing wallet software is not necessarily performing the same activity as a company taking custody of customer funds. A protocol processing transactions is not necessarily the same as a team operating in an upgradeable front end and collecting fees. which technology the technology across the board in crypto may look connected but the legal activities are different. Here's the shift. Replace one rule book like

a rule book of regulation and replace it with a power [music] map or you could say an activity map. What is actually happening and not just what is happening who who's doing it? Who is it happening to? So instead of asking who regulates all of crypto, let's divide the systems up by authority. A lot of times we call these different categories and niches. Congress, Congress, rights, status, statues. Sorry, I I I tell you, I need something to drink. It's a lot of intense information. All right, here we're going to start to outline who each player in this game is and what their position. So, Congress writes statues and decides which agencies receive legal powers. The SEC oversees securities, securities exchange commission, markets, securities. Let me start over. The SEC oversees securities markets and security transactions as they are the

security exchange commission. Its concern is not merely the technology used. A security does not stop being a security because ownership is recorded on a blockchain. Big argument there. And the CFTC regulates derivatives including futures, options, and swaps are included in that and has anti-fraud and anti- manipulation authorities involving commodity spot markets. Current legislation proposals would give it a much broader framework for digital commodities in spot trading. Trying to slow down here because I know this information could be intense. Treasury agencies look at different problems. So Finn or FCN administers anti-money laundering obligations under bank security act of FAC administrators sanctions administer sanctions right and the IRS handles federal tax treatment. So, a lot of times we want to throw our hands up in the air and shake our fists at government and we don't even know who exactly is

in is in charge of what part of whatever is going on. You could be very mad at the SEC for something that's actually being done by this Fininsson uh administrators of anti-moneyaundering, right? They could be stepping in and and working on something that they believe is anti is is money laundering and then you're over here yelling at the CFTC, you know, at your TV screen uh about, you know, what the SEC and you don't even know who's in charge of what. That's what raising your IQ is all about. Financial IQ, of course, and then we niche that even deeper into crypto IQ. A lot of people missing this deep information and I'm a new channel so a lot of people don't even know I exist. But man, we come in with the sauce tonight and very often. Welcome to

this new series called Who Writes the Rules in Crypto. Banking regulators supervise banks write custody activities, reserves, and connections between crypto companies and the banking system. So that's what the banking regulators do. States, let's talk about states. They impose money transmitter licenses, customer protection requirements, business registration rules, gambling laws, and their own digital asset framework. So, you have all of these different agencies within the government. Then you have banks, and then you even have states, and they can differ from state to state. Courts decide what a statue actually means, whether agencies exceed their own authorities, and how existing legal tests apply to new technologies. I could probably read this to you eight times before you were like, I think I understand it. So, hang in there. This information over the week will be reintroduced, right? You'll have a chance

to soak it in. People get really uh blown away sometimes by intense information. Stick it through. It's like a It's like a fight. Sometimes you got to you got to hang in there and bob and weave a little bit. Then we have the private rule makers, exchanges, wallet providers, stable coin issuers, right? App stores, developers, validators, sequencers, Dows, and token holders. Now we have spent because this is such a crypto focused stream. We have focused a lot on developers, validators, sequencers, and Dows. We did a a whole a whole day on Dows, right? If not a whole series on Dows. So hopefully these things click a little bit more. We're adding more pieces to the financial global framework puzzle here. They cannot write federal law but they can control technical accessing listing upgrades transactions collateral governance and user participation.

So they can't write law because they are private rulemakers for [music] that which they have jurisdiction over which is their own companies right which could be exchanges or wallet providers. Again same list but they do control technical assets. So it's this is very much about understanding who controls what. The payoff here is learn to decode every regulatory headline once we understand the power map because with what each part of the puzzle is is residing over right you could almost think of it like a country broken up into middle of many different providences and you have little kings over each one of them. That's what all these different groups from government to private are. And they have power over what they have power over. And many times do they try to exceed what they have power over. We have a

whole body just to make sure that they stay in their lane. Regulatory headlines become easier to evaluate once we understand the power map. When Congress introduces a bill, we ask whether it actually passed. When a committee approves a bill, we remember that committee approval is not a final enactment. Same idea within, you know, your your house or your Senate like committees. The financial I just want to take a minute to say this and it'll be really short- winded. We'll get right back into this. It's nice to break it up sometimes. For most of human history, as far as I understand, literacy, the ability to read and write, was the main issue globally as far as raising a human's potential. And it was very much separated by where you came from, where you lived, whose family you were born into,

royalty, all that kind of stuff. And that still somewhat exists but by majority across the globe we have literacy the same thing is that dynamic we have financially and I do believe that a lot of what we're watching here is again the separating of who has financial literacy and understanding and who does not have financial literacy and understanding. This is never financial advice, but I do hope to give you education and information that you find valuable in changing your life. Because again, we just talked about you can make all the money, but if you don't know what to do with it, you're very likely to not wind up with it in a short period of time, even if that's four or five, 10 years. Back to the the topic at hand. Yes, Prime Minister nailed it. Education is a

privilege. Exactly. And it's always been that way. Education on how to read and write was seemed so simple to us in most of the world today. But for a long time, like you didn't have access to it. You didn't have access to it. You didn't just suddenly get access to it. Back at the topic at hand though, when the SEC issues an interpretation, we ask what statute it is interpreting and how much legal weight that interpretation carries. When the CFTC discusses a digital commodity, we ask whether the activity involves spot trading or derivatives. Prime Minister says, "Funny thing is in some countries it's expensive to get education if there is no public school system." Yep. Exactly. It's crazy though because it should be free, right? And it's easy to say something should be free, but who's going to administer

it? We can all believe that learning and reading and writing should be free. But like you just said, if the infrastructure, which is what public education is, is not existing in every, you know, province, town, whatever you want to call it for the country that you're in. And if that doesn't already exist for your kid to just go learn, a lot of kids won't get educated because a lot of adults don't understand that they could just educate their kid. Very much difference between public, you know, education and homeschooling as you would call it here in America, and I'm sure they do in many other places. And again, sometimes that's because the adults have to go make sure that you can eat food. Survival becomes more important. If those grown-ups live somewhere where money and and jobs and things are

hard to come by and pay is not great, they work more hours to make sure you're fed and that becomes more important because education to a child who is dying of starvation is worth nothing. So there you go. It's a whole real world out here. We're not going to we're not going to make any pretend about it, right? This is underground crypto, right? We keep it real. When the CFTC discusses digital commodities, we ask whether that activity involves spot trading or derivatives. Yes, when I get back on topic, I tend to read the last thing we already read. When a court issues a ruling, we ask whether it addresses the token itself, a particular sale of the token, a specific platform, or the conduct of a particular company. How farreaching is the ruling of a court is a big

deal, and what does it pertain to? That's very much going to be what the court case was about. When a project claims to be decentralized, we ask who controls the front end of it, who controls the treasury, upgrade, keys, fees, and governance. The payoff is not memorizing every agency, right? That's not exactly what we're saying. It's learning how to identify the type of authority behind the claim acronomy. I'll admit sometimes I still see a word and I have just no idea what the heck it even means. I actually do have some idea what this could mean. But I want a real definition. I think prime minister said this to me earlier and I was like I don't I don't know what that word means. But I was like grocery shopping with two children, so I didn't have time to

look it up. I don't know why I do this when I can voice the chat. Definition, please. And when I don't know a word or something like that, I got to go figure it out. That's probably how I wound up doing crypto education on YouTube, right? because I have a genuine hunger for for information and knowledge. So, it's an abbreviation formed from the first letters of several words and pronounced as one. For example, NASA. Okay, but what does it mean? Bro, that was not helpful. Okay, but what does it mean? Sometimes I gotta try not to have an attitude with chat GBT. I'm like, duh. I still want to know what it means though. Yeah, it's an acronym. That's cool. It means shortened version. Oh, okay. I get it. I get it. I wasn't connecting in the dots first.

So, it just means an agency's acronym. I'm an idiot. Uh, yeah. Yep. I I thought this was a different word. It's just the word acronym. That's hilarious. Sometimes that can happen to you. Ever been reading and then come across a word and you're like, I don't think that's the right word. I don't think it's spelled like that. I must be tired. >> Yeah. I now I realize it's just a word acronym and I'm like, of course I know what an acronym is. Hilarious. Two two people probably just tuned off. They were like, "What? This kid doesn't know what an acronym is." That word looked like ancient writing or alien writing to me there for a minute. Should Yeah, infrastructure is key here. That has to pay for public education like USA. Our tax pay for it. Yeah, prime minister

is in Japan for those who don't know. Learn how to count that money. I know or yeah, hear that all the time. AI is dumb sometimes. Actually, it gave me the right definition. I just didn't even know what what we were talking about. So, we could go right into the if if you that was the what we just covered was the precursor into the topic of the day and it could have easily been the topic of the day, but it gets deeper. But I do feel like we got to break that up, right? And I'm sure everybody really agrees with me. We gota we got to take a minute. I can feel my voice almost like whoa. That was hardcore. I need some like green tea with honey right now. So let's take a minute and just kind of

look at some things. Top gainers, top losers. Velvet top gainer. We've seen Velvet kind of be a loser a couple of days, right? So, now it's getting it back 17%. Uh, Belladex getting 16.5. I'd be interested to know why Belelladex is getting 16.5% to the upside on a day like today. Losers, Pi Network, Grass, and Dexi. I think that um, Prime Minister is very much correct in the fact that a lot of people who supported Grass are pretty upset about their very small payout, right? I mean, take a look at this. It's a good segue. And let's go to allocations, right? I got $13.61. And I still can't claim it until July 22nd. I'm really happy that they decided to pay me in USDC and not the grass token because the grass token's been dipping. Uh unless they just

gave you like a lot, right? And it says snapshot epoch 19. So I I definitely have to ask a couple of questions here before I get all up in arms because I have been mining this for quite some time. Let's go to the dashboard. Come down here. Where where is it that I can see? It's under rewards. All the different epochs, right? So, it starts at epoch one. Interesting. Epoch one. Epoch 2. So, we're just calling this all epoch 2. There was many other epochs here. They've changed this. The whole point is I've been in it for like at least eight, nine, 10 months, maybe a year, right? And they're only allocating me $13. But this just says epoch 19, which is also confusing. Uh because if you go to the rewards again, you have epoch one and two.

Where's the rest of them? You know, like says epoch 19. The point is I think that they're just paying out for epoch 19 and they're not even paying me anything for any of the other epochs. That's what I've gathered so far. Now, if it's $13 every epoch, that could be good. Again, if everybody runs away and doesn't participate and the pot becomes spread between less people, it might be worth staying around. Always many things to consider. We'll check it out. I'll give them another three, four months at this point. [music] Why not? Really cool project. Again, we're trying to break up this education. Really cool project to me that I've been messing with here is God. It's not an endorsement saying you should go buy God or any of that kind of stuff, but I think it's really cool.

The community is awesome. Um, I've been very active with it. You know, I've been mining it just as I in the way that I was told to do, Encryptor. You might you may or may not know this guy right here. Uh, and there's a lot of cool stuff going on over here. So, you have the mine, which now I've been kind of messing with this stuff long enough, I finally kind of understand what's going on. But I still I don't know. you really know if you understand something when you go to explain it to people and you have some idea of uh how well you understand it. So there's 25 blocks. I'm going to take a shot at it. There's 25 blocks. It's very similar to ore and uh here's somebody talking about for the ore one it's ore

watcher bot and telegram. Yeah. So Ore is a very similar project. Apparently, the price of ore, the actual token, right, went to like $1,500. This this this project very similar, uh, is only at $2. So, you can imagine the upside that is possible here. Whoa. That's opportunity. Doesn't mean it's going to go to the moon. It doesn't mean it's going to go to $1,500 a coin. Things like tokconomics and uh how much people care and what's going on in the market have a big impact on that. So, don't let that be lost on you. But I come over here. I mine. I'm mostly turning soul into. And it's unrefined. I believe that I was told that the AP R on or APY on uh Godle is like 174%. It's pretty good. So, you hold your unrefined Gottle and you

get a lot more than even I guess if you even staked it. And then you have this rush. So, that's the mines you mine, right? Pretty simple. You put Salana in, it goes through the rounds. You can bet, there's 25 blocks. You can bet on all of them or you can bet on individual blocks. Seems to be recommended that you just bet on all the blocks so that when the mother lode hits, I didn't I didn't explain that. My bad. You have two different jackpots. Let's call them jackpots. They call them motherloads. Let's call them jackpots, right? Started to explain and then just moved on real quick. Uh, let's see what we're saying here. He says, "Bro, your dividends are stacking, bro. Rush is at 14 soul." Yeah, we're going to talk about that in just a moment here.

Prime says, "I'm mining now. Perfect time, too. EV is so good. When bullish hits, God going to fly." Exactly. And I would love to have a piece of that. And the price per gate has been ranging like from $2 to $2.15, $220 kind of thing. Not a huge fluctuation on a daily basis. Right now, earlier the mining was like 28% when I was mining. It was pretty good. But anyways, you have two mother loads. So, this mines or completes a round every [music] minute. So, you have a timer 1 minute, right? And you can see how much Salana is in the like entire round. [music] And then you have your two jackpots. One of the jackpots is in godle, the native token. So if that gets hit, all that gotle will be dispersed between the people who won. That's

why it's kind of so important to do 25 blocks. This is a really cool process and I really like it. I' I'd almost like to see other projects do this. This is kind of another project doing what or did anyways. Then you have a Salana jackpot. When you hover over it'll give you the price. I mean, the the Godo one that popped the other day was like, I don't know, it was like 5k and I was only mining with like, you know, 30 cents a round or 20 cents a round and I got like five six guttle. Not five six dollars, five six goggles. That was like 12 15 bucks I got in that round. Pretty cool strategy, right? If you just want the whole jackpot, you're probably gonna mess yourself up and and get greedy and and really

hurt yourself before you ever actually win anything. You'll probably run out of money. So, that 25 block strategy, I think, is really important. And I can just add it tells me how many rounds I have left with the current amount of money that I have in. Pretty cool stuff. Rush though is separate. So, this idea is pretty cool. Uh Melissa says you have to to do this thing to get God. No. Uh Melissa, you could buy God on the open market. I'm pretty sure cuz if people get God, right, and then they sell it, then it it's got to be available somewhere, right? And I believe I've asked Prime Minister that already. I believe it is available somewhere. Uh I you know, it's funny. I thought this today when I was driving to the store uh to bring this

project up to you specifically, Melissa, because I think you'd really like it. And it seems to be as far as like value, it seems to be an absolute no-brainer. And there's some really cool things here. So, we talked a lot about the mining. If you have questions about the mining, feel free to ask me, but also ask Prime Minister because he knows way more, right? I'm new to this. He's the OG in this space. Shout out the prime minister who brought this to my attention. Then they have this thing called mine. So when the this is my I think this is correct. It's got to be whenever the jackpot on Salana is hit, a portion of it comes over here and then of course there's a portion of Salana and things uh being pulled into this all the time

and you see this prize pool slowly go up. It's at 14.8 Salana right now. I've been mining it since it was like it was at one Salana. So, it was like $80 when I started. And you buy these shovels. You'll see right now who the current leader is, right? It's just [music] this random contract address. You can link your X. Like you see up here, I have underground crypto. So, when I do something, it comes up in cryptor here. It comes up as encryptor. But if you don't do that and you just connect with a wallet, [music] you have, you know, uh privacy and it just says your wallet address. But anyways, the last person, not the person who owns the most shovels, the last person to buy a shovel becomes the current leader. When this 1 minute and

10 second counter runs down, it is going to random number generate, which is true mathematical provable fairness. It'll randomly generate a number. If and it's between 1 and 999. If it hits 999, this pot is over. And whoever is the current leader gets the whole pot. The whole pot. If that would have hit 999, this guy would have got 14.4 whatever,80 in Salana. And it it goes directly. There's no wait time. It goes like directly to your wallet instantly. Pretty cool. But you have to be the current leader when it hits and it goes round after round after round. Again, I I got in when this thing was 80 bucks. It was like a day and a half ago. Prime Minister is telling me that sometimes his prize pool goes to like 60 Salana. You can imagine how long

that goes along. Now I'm getting to the part that really [music] matters. When this first starts off, the shovel like when it hits and it resets, the shovels are like a dollar 20. And as time goes on, the more shovels that are bought, the more shovels become more that they cost per Salana. And you can see how many have been sold, right? I remember when this thing was was under like, you know, was was under like 150. Now it's almost 500. Here's the cool part. You buy shovels trying to hit this. Maybe you get into some PvP and you go back and forth. After that, you start getting a dividend for everybody who buys a shovel. After I spent 30 [music] I bought 31 shovels, right? Average cost from under $2 to over average cost about $2, maybe a

little less. Meaning I spent about $62 getting opportunity. Look, they almost got it. But losing is losing. It doesn't matter if you get when I was on top, I hit 997 and 998 and I still didn't win anything because you have to hit 999, right? Anyways, you can see my total earnings down here. So, if I spent what is it? >> So, I spent about $62 and so far I've recouped about $40. It's pretty good because a lot of things you buy and then you get nothing, right? I I've claimed it before. So, I got like $27 worth here. Anyways, I hope I explained this a lot. There is staking. It doesn't seem like staking is that great to do. Seems like mostly uh holding your unrefined Gottle is is the way to go. Uh, yeah. >> Prime Minister

says most likely a bot. Bots are everywhere. I'm bumping him now. Bumping him off. Good job, Prime Minister. I will uh I'll take that. There we go. Look at that. Prime Minister on the leaderboard. Let's see if Prime Minister hits it. It makes it more fun when somebody we know is on top. 9008. And again, you might think, "Oh, that's close." You rather hit it or you don't hit it. It can hit the same number. It's not like after 998 times it has to hit it. It can random number generate all day long. That's how this pot can get to like 60. And the more they come in, the more people go crazy over it, the more they kick each other off because the pot is so big. Some people are whales and have a ton of money. And

so my investment of 31 shovels could make me more money than I even spent. Plus, I got the opportunity to win. Cool stuff. I like that. Now, it could end right now and I could be down 20 bucks. A lot of lessons learned there. I think I went a little overboard with the 31 shovels, but maybe it'll pan out. Everything is risk. I just want to take a minute to highlight this project because I've been having so much fun with it. I can use it on the go. If you use something like uh Soulflare wallet on mobile, you there there's a web browser where you can use web three type stuff and your wallet automatically connects and everything. It's a lot of fun. All right. Uh staking is profitable if you have a huge bag to stake with an

NFT boost. Yeah, I'm not saying staking is not profitable. Just if you're starting and just coming in, it might not be the most important thing to do. I got you if you I got you if I win. Hey, I appreciate you, man. And back at you. Look, here's another bot. He bought a shovel. Oh, I'm bumped off. Yep. And then, of course, you guys can imagine the more this get up, the more people just going to change and bump each other off and this that and the other. Uh, I'm surprised that I I'm honestly surprised that more people don't get bumped off of this like within one round. Sometimes two people get in one like but you could just go back and forth and back and forth and back and forth. So, I I really like this project. Anyways,

Melissa was asking about memex. I'm going to get to that in just a moment. Some other things you'll see I have up here on on deck screener and stuff we're going to touch on in the membersonly stream. The members only stream is going to be as long as it needs to be. Depending on who comes over, ask questions and wants to be a part of stuff. Otherwise, I'll do my own thing and if nobody is asking any questions, we'll move on. We do have the education that we have to finish. And uh a part of me wants to move that education forward, right? Snickler Fritz, I saw him win. He won. Look at this. 14. The last time Snickl Fritz won was at 14.52. We're already past that now. And he won $1,000. And you can see some people

like this three IP. He's won 5.6 or 400 bucks. He won 616 bucks. He won $375. And that just doesn't even tell you past [music] that, right? So, I'm sure it does in the explorer. Like, you can go to the explorer. You could go to a motherload or something like that and you can see like when the last soul motherload got hit two hours ago and it'll tell you exactly which round it was. And then you could like go to your wallet, right? Go to your portfolio and you could see uh finally I'm actually over the amount of soul now I just realized. So, I could go talk and then I could go find this round and I could see exactly. You know what they need, Prime Minister? And maybe I'm just tripping. I need to be able to

jump pages here more than one at a time. Can you bring this up to somebody? Cuz like I all of it would be like two hours ago like this. And I want to find the transaction where that uh soul motherload hit and I want to see what I got because it tells you for every round how much soul and how much gole. But like I literally have to go back one page at a time. That is super annoying if you have to go back 60 pages. That that's that's kind of not fun. Anyways, in my portfolio, you can see how much soul I have. How much uh and you could do this for anybody, right? And you can see how much I have unrefined. I have about 14. That doesn't seem right. I have more than I have more

than that in my wallet. I definitely have more than that in my wallet. Oh no, this is how much unrefined is in the in the protocol right now. That makes sense. This is how much is in my wallet. This how much God's in my wallet. Uh 80 bucks. Transparency here, right? Transparency is everything. But what I do like is that you can actually come click on somebody here. Let's do this with Rush. Like if you want to see if somebody's a whale, right? And like you're you're PvP battling with somebody, you come down here and you see, oh, you know, they don't really have a lot of money in the wallet. They could have money elsewhere and just move it over. Don't get me wrong, but sometimes you'll come over here and they have like, you know, $3,000 worth

of like or soul and you're like, "Oh yeah, I don't really want to I don't really want to PvP with that person. And don't worry, I didn't forget about you. Steak and fries best combo. Absolutely. Snickl is a regular. We know him. Uh yeah, I want to hit the rush and then uh like make a little video about it and things like that. It would be like I could make a video about this project, but it'd be a lot better video if I actually like hit something like that. Anyways, uh nice bag UG, you've been building it up. Absolutely. I've been having a lot of fun with this project. People mine with multiple wallets. Yep. That mining amount, bro. That's mining amount. Okay, I follow what you're saying. Wow, I just totally messed all that up. I love that

you can just go back and change it. Fat finger and everything. I've got a microphone and a phone in front of me. Not even trying to make excuses. Just true. And I imagine most people can go directly uh through my profile to my Twitter. Maybe they could find the channel very easily that way. It's going to be fun being able to chat. You have to have 10 salana of volume mining before you can chat, which I love because if you're in the chat, that means you've been here. You've been working, right? And don't worry, we're going back to the education in a minute. you know. There we go. All right, I am going to bounce over and go to the staking on MAX real quick. It It's I'm really glad that MAX hasn't died like Lab has, but I

noticed the activity is way down, right? And we'll be bouncing back and forth. if you're coming over from the godle community for any reason because I noticed a lot of people did uh just know that we'll be back over there shortly. So staking and let's see I can claim staking phase has ended. Okay, surprise buyback for XP holders. Sorry we're closed. Okay, this is weird. What is going on here? Claimable stake, right? Stake me. Okay. But I go to claim it. It just drops me down here. Oh, okay. This is how you claim it. All right. I'm just having a moment. I haven't eaten today, guys. I've been going at a million miles an hour. I don't think I have enough meme core in my wallet to actually claim this, but we shall see. Maybe now that it's cheaper,

the transactions are probably cheaper. That's probably what it is. And I probably can afford it now. All right. Memecore is its own layer, right? It's its own blockchain. So, there's that. So, I was able to do that. What I don't see is before it showed me how many XP points I had, and I don't see that. So staking is no longer available. That's not particularly a good sign at all. But it does say surprise buyback for XP holders. I have some XP. It'd be cool if I could see how much XP, right? Anyways, I move on. Let's go back here. See if anybody said anything. Nobody said nothing. Cool. See what's going on with Rush. See more people here. We're up more money. What are we at? I'd really really like to get to a point where uh I

can buy shovels for free past what I already spent. So when this gets over $60, uh I'll probably start buying shovels again and get free opportunities to hit this giant jackpot. Be pretty awesome. But it's got to not hit. Let's get back to the things of the stream. We're going to do chainers real quick, which is a pretty simple uh segment. And then we're gonna get back to the education. Says, uh, "Gotto boys are asleep today. Not that active in the chat." Hey, no worries. Actually, let's not sleep on it because we're already at 10:36. Let's finish this information here. Who's with me? Throw something in the chat. Let me know you're still here. I don't know what that's about. I never uh saw any kind of as far as the staking on meme. I never saw any times

on the rounds or any of that. So, it does seem like they shut down staking, which is weird because all they were giving you was like XP, which is I don't don't think actually a coin, right? Maybe it's a separate coin. I don't know. But, uh, it didn't seem like it had any value. So, I'll have to check that out. Prime says 111 and 33. So, smash that like button. Let's get back into the education. Here we are. It's Monday. But we're introducing the topic for the series of the week. And man, I think we're going to have a great week. You can really learn a lot. If you don't sleep on your education, remember traditional education can make you a living, but self-education can make you generational wealth. Never financial advice. Actual results may vary. Isn't that it

would say like on a commercial. So begin with activity not the word crypto. So when we're looking at regulatory framework and and what matters to what is going on you need to think what is the activity that's happening not is it crypto or not crypto or or something of that right crypto describes the technological category not one legal category. A crypto asset could represent a native network asset, uh, an investment contract, a tokenized security, a collectible, a payment instrument, game item. The point here is that a token could represent anything. It could literally represent just about anything, right? The same technology can support legal different products. Like I could make a token uh, you know, underground and it could just represent me in my YouTube channel or whatever. it doesn't necessarily means it has value and then what I

do could be regulated very differently versus I don't know if uh a Swiss bank makes a token totally different framework this first classroom question should always be what is happening who is doing it and what economic relationship has been created Congress creates the regulatory foundation Congress passes This is the status or the status or the statutes. I don't know. I was statutes. That's that's the word I'm looking for. Man, I need to eat something. That establishes agencies and grants their power. The SEC, Security Exchange Commission, operates under Federal Security Law. The CFTC operates primarily under the Commodity Exchange Act and Fininsson administers bank secrecy act requirements. Is that is that where XRP is in the Secrecy Act? An agency can interpret and implement the laws within its authority, but it cannot simply declare unlimited jurisdiction over every new technology.

This is why the Clarity Act matters. And hopefully this is giving you some clarity as into what the Clarity Act is actually doing and who it all has to go through and committees and all the all the paperwork to get it actually all the way to something that's passed and agreed upon. Congress is considering whether to establish clearer statutory categories and allocate additional responsibilities between the SEC and the CFTC. I think that would be a great idea because none of the frameworks are built for this new emerging technology and people who get put in charge of new emerging technologies who don't know anything about them can be very problematic and stunt the growth of a new emerging technology or asset class. The bill's progress matters, but proposed legislation must not be presented as current law. Remember, it's proposed. It

is not enacted. It is not an actual signed bill. So, the SEC regulates securities and security transactions. Right? SEC is all about securities. The core responsibility of the SEC includes investor protection, security offerings, security exchanges, brokers, deals, investment advisors, and market disclosure. A blockchain does not simply exempt a blockchain does not exempt an instrument from securities. Right? At the same time, not every crypto asset is automatically a security. In March 2026, SEC issued an interpretation describing categories including digital commodities, digital collectibles, digital tools, stable coins, and digital securities. It also distinguished a nonsecurity crypto asset from an investment contract involving that asset. That distinction will become the center of Tuesday's stream, tomorrow's stream. That guy was sitting on the job. Fire him. Right. Exactly. Too funny. I tell you, it's been a lot of information and talking tonight and

I've been fired up, which means my voice is starting to go. It always gives me flashbacks to when I caught some kind of little bug and I literally lost my voice and couldn't stream, which is the worst thing that can happen to somebody who streams online six days a week. So, the CFTC's existing authority is different. The CFTC regulates derivative markets, futures, options, and swaps. For commodity spot market, its traditional role has been more limited with authority to pause or pursue fraud, I mean, and manipulation rather than comprehensively licensing every spot market. So, the CFTC's authority is more for fraud and manipulation than to decide who deserves a license. To to say that another way, he says, uh, get in a drink. Hey, I appreciate you letting me know. When he stepped away, he said BRB. That distinction matters.

A Bitcoin futures contract clearly falls within derivative regulation. Ordinary spot Bitcoin trading presents a different jurisdictional question. This is where it gets weird. Just to reiterate here, Bitcoin future contract on say MEX or Weeks or Coinbase has one person in charge of it. One what do you want to call it? Uh governmental agency. Ordinary Bitcoin spot though seems like the same thing. Really not much different. Has a totally different jurisdictional right person in charge of it. A leveraged or perpetual product can create additional regulatory obligations. proposed market structure legislation could expand the CFTC's role into a digital commodity spot market. So now they pretty much have to go back and redefined all the roles and see who should be in charge of what because you have too much crossover with digital products. It's the interoperability per se of things

that you can do in finance that we want, but it makes it really confusing for the regulators. The CFTC and SEC are now publicly emphasizing coordination over crypto asset taxonomy and jurisdiction. Treasury regulates financial behavior around crypto. Treasury's role is not primarily deciding whether a token is a security. That would be the SEC. And Fininsson focuses on money transmission, anti-laundering programs and reporting and recordkeeping under the Bank Secrecy Act. Most people are not going to know who Finson is. Finson's long-standing approach examines the actual business model, right? Like determining if something is a monopoly or a Ponzi scheme. Someone merely using cryptocurrency is not automatically treated the same as a business accepting and transmitting value for others. And you could go right to Finen's guidance. I would lose you guys at that point. So that will have to be

for another time. The OAC can prohibit dealings with sanctioned people, entities, and addresses. So, example, I'm pretty sure the Iranian regime is is most likely sh sanctioned on all levels. OFAC would be the ones who would come up to somebody and say, "Hey, you can't you can't do business with this person." The IRS determines federal tax obligation. This is the one the average American is the most familiar with the IRS, right? These agencies can affect cryptocurrency even when the underlying asset is not considered a security. Banking regulators control critical access points for all of this though. This is their role. Federal Reserve, OCC, FDIC, which is what you usually hear when you talk about money being uh like you put money in a bank and it's protected up to $250,000. That's the FDIC. A state banking authority can influence

bank custody, reserve management, access to payment systems, relationships between banks and crypto companies. Right? That can be very important. see it with Coinbase, Kraken, all of that stuff. Mind you, Kraken's the only one that has an actual Federal Reserve license, hard license or whatever they call it. I forget what it is. [music] Access, right? Stable coin infrastructure, capital and risk requirements, chartering and supervision. A blockchain may be decentralized while it's while its bridges into banking systems remain heavily regulated. So you can have a decentralized side of a blockchain and the bridges going into a banking system would have to be heavily regulated. You see the contrast? This distinction between decentralized settlement and centralized access will return throughout the week. So don't you sleep on that. This was a really really fun uh series to like conceptualize and get into

and work out what I wanted to do each day. So, I really hope you guys enjoy it as much as I am. And I I learn a ton, right? This is a lot of information. Even if you've heard information multiple times, don't be afraid of it. Repetition is the father of learning. And also, what do they say? The mother of skill. Repetition is the mother of skill. Because if you do things enough, it's that, you know, common saying of 10,000 hours of doing something makes you a professional. How many hours do you think I'm at right now? Remember, we used to stream seven days a week. It just became too much on my other business. Sundays I had to stop. But 12 hours a week, what am I at? 8 n months. Nowhere near 10,000 hours, but it's fun.

I will be there eventually. Number seven, states and courts remain powerful. Right. So, we're coming out of the federal into the states and the courts. Federal approved does not automatically eliminate state obligations. States may regulate money transmission, consumer protection, business licensing, fraud, gambling, unclaimed property, state taxation, and virtual currency businesses. Courts then interpret both state and federal law. A court can determine that an agency exceeded its statutory authority that a particular transaction was an investment contract or that a certain conduct violation existing law violated existing law. So a certain conduct violated an existing law. This is why financial illiteracy is so rampant because you can get this is just a taste of all the intricacies here. You can see why most people are like, "I don't need to know that to work at Burger King." This is not necessary

to work at Walmart and that's why they work at Burger King. And Walmart and if you go to Walmart, you need people to work there. And if you like to eat Burger King or fast food, you need people to work at there. I'm not really trying to take a shot at anybody who's trying to better their life by working at one of these places. It's just a fact about financial literacy and the correlation between financial literacy and money in people's bank accounts. Court decisions are powerful, but their exact facts matter. A ruling about one sale or one business model does not automatically classify every token or transaction in that industry. code creates rules but not legal immunity. Right? Just because you put a a code into a smart contract or something like that does not mean that that smart

contract rules are legal. Like if somebody made a smart contract that said all the money goes to me, they're still stealing people's money and that would still be illegal. Smart contracts decide what transactions the software will execute. Developers and governance participants may decide token supplies, upgrade procedures, uh the difference between um an upgradable smart contract and an immutable smart contract, right? Immutable meaning not ever changing fee structures, collateral requirements, liquidation rules, validator requirements, treasury spending, and emergency pauses. Those are genuine rules, but they are technical rules and economic rules, not legal rules. They do not automatically override property laws, sanctions, criminal laws, uh contractual obligation or consumer protection requirements. Think about this. Uh they do business in Iran when it comes to oil through Bitcoin and stuff because nobody can really stop it. It's very problematic for, if you

want to say it in a more legitimate way, it's very problematic for those who want to hold the standards of the law. You can speculate on how you like that or don't like that all you want. This gives us two different kinds of power. A legal power, the ability to impose liability, penalties, licenses, restrictions, or remedies. Again, legal power is the ability to impose liability, penalties, license, restrictions, or remedies. Technical power is the ability to execute, reject, censor, reverse, upgrade, or fork transactions. Much of crypto's future will be determined by the collusion between these two systems. That's the major takeaway here is that much of crypto's future will be determined by collusion between those two systems. And we find ourselves rolling into 11:00 because that's how long it took to do this series. Now I'll pop over to Chainers.

How's everybody doing? I hope you enjoyed the show. We'll bounce back over here. And uh I I'll definitely be chatting with you guys a lot more on Gottle. I know it's a little slow today. Let's see what are we at overall here. We're up to 4190. So we're almost at $42. I can't wait for it to hit 60 bucks. I'll definitely be in profits on shovels if it hits 60 bucks, right? A lot of fun. See what those motherloads. So, uh, the goto motherload or jackpot finally hit 2K. I would like a piece of that. That jackpot. Back to chainers. We're going to do chainers and then we're going to bounce over to the members only live stream. members only live stream could be 30 minutes, it could be three hours. It just really depends on what is all

going on over over there. And again, the members only live stream is not going to be like 100% all about trenches and meme coins and stuff like that, but I am adding that because uh my interest is growing with somebody who who's very knowledgeable and helping me navigate that, which is prime minister. And uh I don't know that there's going to be a lot to talk about there today, but I'd still like to give the opportunity really I'd honestly like to kind of skip the members only live stream today because I am exhausted and hungry and I feel like I'm losing my voice. But then I think, you know, I could at least hop over there 10, 15, 20 minutes, right? We don't have to do a 4 hour live stream. It's better than not doing it when I

promised that I would do it Monday through Thursday. Prime Minister says low volume day. Exactly. And if there's not a lot to talk about, that's fine. But I will hop on there for at least a second. Matter of fact, right now I should go make it so it comes over and starts at time members only live stream. What is going on? It's not showing up. Can I reload this? Click members only live stream and and nothing's happening. What? We've noticed unusual activity on your channel. Okay. It's very weird that I just said that I think I want to uh skip the membersonly live stream, but I actually think I'm gonna have to skip the membersonly live stream. Oh, it's always something. You work hard every day and then there's just always something. They want me to do like a

full review on my YouTube from YouTube, which is always problematic because I've spent a lot of time and effort and YouTube's very hard to uh like actually talk to sometimes [music] if they decide, hey, we're just going to ban you. like you got to go got to pray and hope they read your email and reinstate you, which I had happen like when my channel was like I don't know a day or two old. That happened to me. So, it's a problem. All right. So, that means there's not going to I can't even I can't I can't even do a members only live stream right now. I don't know why that is. It'll be all right. It's not a big deal as far as not doing that today. I was looking forward to it even if I'm a little bit

tired. I got hit with a prompt though from YouTube that says like changes were made to your uh your YouTube channel that might not have been you. I don't even know what that's supposed to mean, but I do got to go figure it out. I'm just worried if I hit start review that I'll regret I'll like regret it later. I'll be like, you know, have my channel locked or something like that for a certain amount of time or something till the reviews done. [music] You never know. It's always something And yeah, as far as the like trench information and stuff, today's not the best day for it, but you can still talk about strategies and stuff. I know Melissa said she kind of wanted to be a part of those conversations. I would definitely want to include her on

that. I really should have made sure I ate something today. I don't know what happened. I didn't mean to not eat today, but it's uh going on 11:00 p.m. for me. I think I might have had a handful of pumpkin seeds at one point. It's been one of those run errands and go go go all day kind of days. Was getting my workout in before the stream. So, that took a lot out of me, even if it was just cardio. And of course, just shout out to all my undergrounders and shout out to all the people who want to better their lives. I know we're a small community. It ain't going to stay like that forever. I love being a small community. I'd like to be a little bigger though. Just a little bit. I won't be so big

that we we can't we can't chill no more and hang out. But I think I think 100,000 subs would be would be pretty good. I think that might be the point where it starts getting too big though. But you can have 100,000 subs. Like I mean if you really look at like the lifer who's you know recently hit 100,000 subs. I went to like his 100,000 sub celebration dinner and stuff. Um, so that was relatively recent. It's actually where I met Reliable Jay in person. But anyways, uh my point was if you look at the numbers he has on like a daily live stream versus people with literally millions of subscribers on a daily basis, he has far more people on his stream, which is crazy to me because when when somebody with millions of uh subscribers goes live,

like you know, a much higher percentage of people get like a notification. That just shows you how like good and how much people like the content that the lifer makes and him as a [music] person. >> All right, I' I've already got way past a thousand points. I don't really want to sit here and play this. I gotta figure out what this whole problem with YouTube is. It's probably nothing, but it would suck if somebody got access to my YouTube or something, which would only mean they had access to my email or something, which is not good either. Many are just sidelined. Yeah, me and me and Prime Minister have talked a lot about where we are right now with markets, liquidity, global stuff going on. I'm going to go ahead and hop off. It's been a great stream.

It's been a long stream. See who's on top of Russia over here. And did I go up? Yep. All right. 42 bucks. I just need this thing to keep going. If it goes to 60 soul, I'm gonna make a a decent amount of money just off of the shovels. It's pretty awesome. Anyways, guys, you know what it is. Stay underground, stay crypto, stay thinking long term, and I'll catch you in tomorrow's stream. Underground Crypto out. And of course, you can always find me in the Discord. Link to the free Discord in the chat. Actually, didn't say that today. See you in the Discord later.