so close BTC almost reclaims the 100K level before North Korea sends us lower will Sailor save us biggest hack ever bybit loses almost $1.5 billion in eth after Kim jong-un’s minions breach its defenses here’s what we know so far bucking the trend altcoins may be suffering but some newcomers to the space are outperforming we take a look at a few of them to see whether they may have potential and a look at last week’s top performers tweets of the week dates for your diary and much more besides this is the coin Bureau News Live and we are live gm1 and all and welcome to the coin Bureau News live stream my name of course is Nick guy how are you doing how are you handled the end up it’s just another week in crypto right crypto man you know every single we were just getting we’re just getting over the Libra Scandal enjoying time to look enjoy a nice peaceful weekend what whatever happened to the Friday feeling you know you know that you know that that sense you have on a Friday of everything’s fine the weekend’s coming now like you know the part now it just seems like every Friday or every weekend there’s a fresh crisis in crypto exactly it seems as if the North Koreans timed it just to mess up our weekends probably not as much as the buit the people are buit but yeah I imagine I imagine they had a a long a long weekend yeah um so yeah Nick and before we start can we also just talk about your outfit yeah I me why are you wearing a shirt and I believe trousers I I thought I’d just give you guys a bit more formal look you know I mean I I did come into the office with the shorts and I in the in the pre-roll I looked at it and I thought that is actually a bit too risky because people been you know I’d get comments and everything we distract from the news and guys it should be all about crypto not what Pence somewhere in so here you go well for the first time I think doing one of these streams I actually feel underdressed uh so there we are anyway Let’s uh we are going to talk about the bybit hack uh in due course but let’s start off as we always do with a look at uh Bitcoin bitcoin price so we’ve this is exactly what bitcoin’s been doing it’s just stuck there man in that range it’s it’s just crazy interminably exactly um just above 95k now obviously by posting this meme it’s probably going to now fall between below 95k given our luck but um anyways let’s talk about what happened last week with quickly run through the price um so last week of course saor Michael saor did s saor did not buy Bitcoin but he did micro strategy or strategy in this case did propos a new private offering for $2 billion of convertible senior notes so essentially raising more money with the intent obviously to buy and we he L yesterday he posted this which is the Sailor tracker which is of course a precursor or you know the harbinger of Sailor coming to the market or he probably went last week and bought but announcing that he bought last week so if he does announce during the stream that he has bought please let us know in the comments guys and we will flag it I’m I’m looking now you keep talking and I’ll um now of course there wer weren’t many very crypto specific factors last week that drove prices um on bitcoin specifically there were macro factors so for one we had the fomc on Wednesday and the tldr here was that poent the ending of QT right the ending of the balance sheet runoff quote in their expectations of Federal Reserve balance sheet policy survey respondents on average saw the process of runoff concluding by mid 2025 so it signal the possible end of QT and Bitcoin did rally on the back of that although that’s the end of QT there’s still nowhere near QE which is a completely different kettle of fish and Thursday we did have some good news as well bullish news at least from the Atlanta fed president Rafael bosk who came out and he basically came and said that he was being a bit more doish he said that he thinks we could potentially see two uh rate Cuts this year from the FED um and this did lead to a rally um in Bitcoin on Thursday although I mean I think he’s been a bit ambitious with with his dubish tone because this chart came out guy yesterday that’s the long-term inflation expectations in the US it’s at a 30-year High wow so that’s that’s in crazy right and you know perception is reality and consumers care you know they obviously are pricing in higher inflation because of potential concerns around tariffs and all that and if they PRI if they have a higher perception of what inflation will be they adjust accordingly yeah well I mean inflation’s very much kind of self-fulfilling profit in many ways isn’t it if people perceive it to be high then then it it will be high yeah um gosh I had like I had no idea that it had been actually it I mean look how because like you know a couple of years ago we were talking when it first started and rate and rate hikes started happening um but it’s just continued to go up even with the FED cutting a little bit to be fair it was stabilizing but I think it was cut it was because of the cut in but I think this is just because of concerns around potential future inflation because of all the talk tariffs which is a different thing as well that is true yeah um true anyway so we were touching 99k on Friday evening you know at the top there hitting that 99k level it was there were some liquidations there was a high liquidation cluster there and I talked about this but you know we were just getting there we could potentially have broken through and then Friday evening something happened yeah the North Koreans were doing a bit of pen testing on bit service well the successful pentest very successful pentest crashed everything and of course we’re going to get to that guy so hold on a bit just going to continue with a few more a little bit more talk of Bitcoin um so I want to bring up this chart as well this is the bitcoin’s price action on The Daily over the past few week the past like two weeks just look at that look especially the first four days of that box there yeah look at it it’s like every single you could literally have gone to sleep or left your phone at home right and gone away for five days come back and britcoin would have been that exactly the same open as it was the day four days before yeah anyone anyone who took a anyone who took a mini break during that will have been rewarded for it yeah what is going on yeah I mean this kind of underlines I think I mean if you’re wondering why sentiment in the market is bad right now this I think is a big part of it because there’s just nothing here for anyone there’s nothing here for people who want to see prices Moon and who want to see their portfolio as jumping price but there’s nothing for those who are desperate for a dip down to you know a lot of people sort I know targeting sort of 80k or high 70k or something like that there’s nothing for them either nothing exactly no opportunities now and this is actually born out in the data so this is actually um the volatility of Bitcoin the realized volatility both 30-day and 7-Day volatility and as you will see the 7-Day volatility as at at an eighth month low right so yeah Bitcoin is way less volatile much less so much less volatile in fact that according to k33 again um 30 37% of the top 100 US companies have had a higher 30-day realized volatility than Bitcoin which is mad when you think about that is crazy yeah that is great Bitcoin BTC is becoming a stable asset well at least a much less risky asset right so it’s good or bad it’s good because okay well people can’t say Bitcoin is an incredibly risk risky asset when it’s you know less risky than many companies but it’s bad because you know there’s no volatility for people’s portfolios and trading um one other thing I wanted to point out this is widely panned last week this is a report from JP Morgan and is basically showing the uh basis between Futures over spot for Bitcoin and ethereum that’s basically the basis right and this is what many people had been theorizing had been driving ETF flows from hedge funds essentially the B the cash and carry trade you know they go and short the Futures long the spot and they basically and this is what been driving ETF inflows and if you’ll take a look at ETF inflows last week look at that just OD flows wow so that could be part of the reason um yeah again you kind of feel this must be to to a large extent uncertainty around tariffs you know just general sort of Market uncertainty I wonder as well because we’re working at the moment we’re working on um on a video about gold prices because I know uh a lot of you will have noticed that gold has been outperforming recently um and there’s all this business of how they literally can’t ship gold from London vaults over to to the US fast enough do you think this has got anything to do with it do you think the fact that maybe there’s just some of the focus some of investor Focus has shifted to gold for the time being and maybe bitcoin’s being a bit you know a lot of people sort of don’t really want to touch it around these levels gold is suddenly a bit more interesting I think because gold is known to be a riskof asset and bitco Bitcoin sometimes well it’s increasingly been trading as a risk on right with a correlation with Equity right so at least institutional investors know what they’re getting when they buy gold whereas Bitcoin it’s idos syn sometimes it’s like positive correlations sometimes negative so it’s hard to model that in their portfolios um there is some good news though guy thank goodness thankfully I got to give you guys some hopium right okay so this is institutional accumulation of um ETF shares according to uh the uh 13 a filings so institu institutions are still accumulating they still bullish and we actually had news from coinbase last week right or not coinbase but a lawsuit our coinbase right yes now at any other time you would imagine this would have absolutely supercharged the market um this the coinbase case that the SEC launched ages ago that’s been hanging over not only coinbase but the whole industry this is really really good news and I think Bitcoin did sort of spike a little bit on the news but obviously the bybit hack you know from good news for one exchange turned into terrible news for another exchange ex and so it didn’t last long but like you know this is this is such good news this is the sort of thing this confirms I think the idea that you know there’s regime change at the SEC and Paul Atkins isn’t even in post yet hasn’t even been confirmed yet but already we’re seeing Pro you know Pro crypto stuff like this this is what we wanted to see from the SEC and it’s happening but it just has not moved the market because has mov at all yeah sentiment um quickly before K finish off the section guys one piece of chart one more shart chart I want to show you on a ta so this is basically just the daily Bitcoin chart on The Daily with 100 day moving average and then the 20 and the 50 so as you’ll see there the Bitcoin has been respecting the 100 day moving average as a support line which is good however it has the 20-day moving average has moved over the 50 which could be seen as a slightly the bearish signal so be cautious of that that’s but of course I will again refer you if you guys want to get updates on trading on The Daily what’s happening with Bitcoin with with Bitcoin and other altcoins I will refer you to the coin Bureau trading Channel where you can the QR code in the top right over there down the man head of research and eron AKA moonin Papa so go and subscribe absolutely absolutely if you if you are brave enough to trade these market conditions then uh make sure you’re Consulting with the gigar brains over on coin Bureau trading first um now Nick do you want a bit of a sentiment check how it’s going in the comments let me know let me know is it no longer politics it’s actually not too bad it’s I kind of thought it would be a lot worse um ranan says um fabulous February is over march Market Madness is going to be green April will be astronomical May the profits be with you I’d love to see that opium that’s it Ranna I don’t know what you’ve been taking prior to uh prior to tuning into this but it’s it’s great to see Molly um James on the other hand uh stating the obvious alt coins in the toilet right now um now there’s a little bit of one thing that is dis um disturbing me a little bit there seems to be a little bit of um discussion going on about my physique apparently apparently I’ve been been putting on some Timber um guys be hang on who’s this candy o candy you’re not in my good books here guy’s been holidaying too much and missing gym sessions and he thinks look I did look’s holiday I can confirm it’s this t-shirt okay it’s just not very flattering gez um guy man I don’t know you’re in the Stream down bro this is a this is a personal low point for me um okay thanks for that thanks thanks for that bit of body positivity for me as as we as we go on how sentiment now gu how sentiment now well sentiment here is absolutely rock botom thank you very much so least let’s hope it’s improving for everyone else as a result okay um thank you very much love love our fans love our fans all right um okay let’s uh let’s move on let’s talk about something serious um uh yeah it was uh it was a tough weekend for the people over at bit 100% uh so it came uh at about 10 p.m. Singapore time 6m Dubai time it was broken on Zack xt’s telegram Channel over here and you know at first I was like this doesn’t seem real like the amount of e you know ethereum he’s claiming is Flowing out just may be moving something you didn’t think too much about it but then it was confirmed by Ben the CEO um which is crazy now just to put this in context in terms of the size this okay here’s a chart first of all to show you in terms of crypto hacks it’s bigger than Ronin it was more than double the size of ronin yeah almost three times and what’s fascinating I think this is not just the biggest crypto hack I think this is the crypto biggest hack in terms of value I think I would ever and I could also one could also argue in terms of the amount of stolen you you know as a at one time is probably the biggest theft in terms of dollar value I mean obviously those questions run know people stealing land or you know in the past in colonial era but one can say this is probably the biggest theft in recent history yeah um so what’s crazy about it so I mean you can go over I basically broke down what exactly happened when it was happening but the you know I can give the quick tldr of what happened I think it was a m what happened was obviously bit now um they have a hot and cold wallet and they were obviously moving coins from their or ethereum from their cold wallet to their hot wallet and byit obviously as most exchanges do top too security protocols they’ve got multi6 right so multi6 signing with the safe which is an ethereum um mult smart contract wallet that you can use for multix um and um there’s I don’t know how many signers there were but there must have been at least seven or eight and um basically each of the UI for all of the signers had been manipulated and changed so the UA they were presented with wasn’t you know the actual actions that they were doing it basically been spoofed it been spoofed exactly so essentially it could have been one of two things one is that the hackers themselves had infiltrated the devices of every single sign and I think how complicated that must be yeah because you need to know who every single signer is and you need to go and in and you need to go and get malware on their individual devices yeah I mean you you you’d have to like socially engineer yeah each one of them because that’s really unless unless like it was an Insider’s job which is very unlikely you would have to socially engineer all those signers to get that malware onto their computer and they have done this with other ones for specifically like the Ronin hack which is where they managed to infiltrate every single person on the validator set but that’s another issue another option could have another potential way it could have been is they hacked um somewhere in the on the server side for safe and what was being presented to the uh on their computers wasn’t the actual there was basically like a supply chain hack somewhere in the supply chain but the T what happened is obviously what they thought they were signing based on what they were seeing on the UI was uh in not exactly what they were signing what they were what they thought they were sending a transaction a simple amount of e what they were in fact doing was a changing you know approving a transaction for a smart contract you know a Trojan smart contract like a malicious smart contract that basically ran a call data on the current smart contract and gave access for the safe changed the the smart contract on safe on on the safe side of bit and gave the hacker access with this call data function and essentially that’s it that was done so they would have that and and the bybit team they would have been signing this off you know on on their de on their individual devices they wouldn’t have had any inkling that anything was wrong until suddenly the wallet started to be drained and and it and it happened very quickly as I understand and exact very quickly and obviously they signed it they all signed it on Hardware devices right so physically like separated so it’s on their computer I think Ben said he used a ledger and here’s a big issue and I think one of the central issues for this and espe especially as it comes to Hardware wallet security and that’s blind signing yeah so when you sign whenever you sign um like a leged transaction guys you’ll notice that when you check clicking and approving you’re giving like a hash you know like hashes of the transtion yeah you get that you get that kind of hexadecimal number that that’s that’s basic you know just a a sort of incoherent stream of is it it’s just letters and numbers and you know you can’t really read you’re not reading it so you don’t know what it is so you have no idea whether what the transaction you send in is just a simple transaction or it is in fact approving a change in the smart contract that gives over $1.5 billion of e your cold wallet yeah and that’s exactly what happened um so it’s insane yeah so it flooded out obviously the started moving very quickly they split it through number of different wallets they ran through Bridges they ran through and the response of bit and the crypto Community First of all I mean as as crazy as the hack is and how bad it is to be hacked the response I think and the from bit itself and the rest of the crypto Community was a massive success story absolutely textbook he came out there literally within an hour went on a live stream or and the craziest thing guy is withdrawals were still active yeah and you know they allow withdrawals to continue $4 billion do worth of withdrawals were processed in a 48 hour period which obviously could never have been done with FTX because it was forun from the beginning or even guys your Bank try and you know because they have every single dollar is matched at bybit because it’s not fractional Reserve you’ll be able to withdraw try and do that with your bank yeah so bybit suffered you know in in as as the hack was going on obviously customers frantically went to withdraw so they suffered the equivalent of a bankr yeah and it’s Testament you know to buy bit and also I think to the to this kind of industry as a whole in the wake of FTX and in the wake of sort of previous you know exchange disasters it’s a testament that the industry has moved on to this to to the extent that you know all all withdrawals were processed obviously it got it was you know done slower than it wouldn’t would have been under normal conditions but bybit managed to handle all those withdrawals all those withdrawal requests um no customers lost funds um and yeah as you said like bbits uh you know within um because as you said Zack xbt was the first one to break it Ben um bybit CEO was then on Twitter very shortly afterwards and there was no there was was no sort of like oh we’re you know we’re looking into it or there’s been a bre he was straight up our cold wallet our cold wallet has been you know has been drained um so people knew what was happening and then he was on this live stream answering questions you know confirming withdrawals and stuff so really it was it was handled very very well there’s obviously going to have to be a big um you know uh interrogation of by bit’s um security features every other exchange will be will be doing this as well but really in terms of Crisis management I think they absolutely aced it yeah 100% And um the fact they were they were comfortable to continue process and withdrawals and and at that stage and I don’t know if it’s been discovered yet they still haven’t discovered whe where exactly this came from was it a so like local on the devices was it a server side thing yeah safe says they they it was not on their side and they reinstating it so but e either way the way they responded and crypto exchanges jumping in like within less than an hour after the hack Brit had already secured um Bridge financing from other exchanges yeah crazy they jumped in everyone jumped in the bridge other exchanges send funds over to bit um and you know it and yeah I just think it’s an amazing success story from this perspective of how an exchange should handled it and another another thing to note guys not a single regulator had to step in not a single bailout a single taxpayer sent s spent on this it’s all just good crisis management good risk management from at least from the perspective of having the funds available and not and as an exchange and dealing with it correctly and the crypto Community coming together which is a great story um speaking of crypto Community coming together I think you know there was a bit of a unfortunate back and forth again ecosystem to ecosystem around a suggestion around what they should do for on the ethereum side yeah yeah this was I like I I don’t know always there’s always um a kind of knee-jerk reaction in in at times like this and um yeah like some people talking about rolling back e i know whether this was just [ __ ] posted I think it was [ __ ] posted 100% because I mean they obviously refer to the Dow hack but I think it’s [ __ ] posted right yeah so for those of you unfamiliar um ethereum the ethereum chain was rolled back in 20 was it 2017 the Dow hack or was it earlier 2016 I think 2016 2016 but the Dow hack um happened Laura Shin writes very well about this in in her book The cryptops about it that was when e the ethereum chain was rolled back that is still a very very controversial episode in ethereum history that was the episode that gave birth to ethereum Classic um now that was a long time ago when the whole crypto ecosystem was much smaller ethereum was much smaller we weren’t talking about anything like the sort of uh value being locked on the Chain uh that we are nowadays so I yeah I like I say like you say I think it’s I think it’s kind of shitposting really to suggest rolling back the chain but it I was I seeing these things I was like is this does this help right now it also I think kind of like it’s a bit like we saw in the wake of the um melee mcoin thing last uh last week just a week ago um it was again like people rushing to sort of rushing to put the blame this time on ethereum last week it was salana it was like guys you can’t you can’t blame the underlying chain this is not so many people seem to get this mixed up so many people seem to read this as like the memec coin thing is a failure of salana the bybit hack was a failure of ethereum absolutely not true like the you know the the underlying chains themselves are working as they should it’s how these chains are interacted with it’s how you know it’s protocols building on top of these chains I just think like to come out and start you know start making stupid suggestions it just doesn’t help it just doesn’t help there we are anyways um yeah uh and one more thing I want to note on this um is that and another thing back to the Trad F verus CI example is that so ethena usde right the usde stable coin they basically had about more than 20% of their Hedges these are just the hedges right so if you guys know the mechanics of Athena basically they hedge um they hedge the cash and carry trade kind of thing and they only had about 20% or more of their Hedges on Viet but their Hedges were not affected at all because obviously bit was fully solvent they still ran they still managed they still function usde did not deeg and but that is an an interesting examp compared to a certain usdc with circle which in 20 23 lost access to about 3 billion of its Reserves at SP B bank and DEP pegged to 93 cents so again back to this example of banking versus tradire versus crypto and fully transparent blockchains and exchanges um one of those managed to maintain the peg through a massive hack and the other wasn’t even a hack to be honest bad Management on the case of the bank that just basically was over levered but yeah it’s just crazy example yeah I think there are obviously there’s a there’s a lot of questions that need to be asked in the wake of this but I think we can really take some positives from this like as you said the crypto Community came together um the response from bit was excellent um I mean bit have already closed up the Gap oh yeah um so you know there was there was a lot of talk wasn’t people eth holders um kind of grabbing on to the fact that maybe by having to go into the market and um and to buy back the eth might finally um bring eth’s price out of the toilet eth did sort of it did man it’s it’s ried a lot 1% oh how about that I would I the parties in Denver right now must be absolutely kicking off um so uh yeah it was um I think there are definitely positives to be taken out of this but um at the same time I have to ask there are a lot of tough questions to be asked and kind of like the Malay thing last week which has gone a bit quiet like I did think maybe we’d be giving an update on that there doesn’t seem to have been any more updates um Hayden Davis seems to have uh fortunately shut the hell up I think he’s got a very good call from from his lawyer he he consulted some legal professionals and got a bit of legal advice yeah he’s been locked in his parents basement Lou of phone um but yeah I think I think there will be there will be more updates on this sort of as the week um progresses so uh we’ll keep you posted on all of that um Wall of Shame and Wall of Fame we only have we have two candidates of course and are both on the different side of the coin pun intended let’s go [Music] what the hell I’m so I’m so old I don’t know who those who they referen to so guys what what hello darkness my old friend they got it perfect bro that that’s actually pretty good is that what I look like with here oh my word every single time every just when I think I’ve seen it all okay so walls of Fame and shame forgot what we talking about um okay so Wall of Fame I think uh has to be uh Ben and indeed the rest of the bybit team credit to them man yeah consumate professionals handle it like champs yeah I hope they I hope they’re getting some sleep they must be exhausted yeah um okay so that’s Wall of Fame Wall of Shame meanwhile there he is just it just goes to show doesn’t it just so unhappy because you realized they hacked eth I didn’t say get eth oh I I wanted bit do with this no no um but no yeah definitely the dprk will there should be a permanent position for the dprk always missing up stuff you know for the crypto let us know in the comments but uh I I I propose that we add Kim Jong-un and the Lazarus group to the Wall of Shame in perpetuity we award our first ever permanent star on the wall of Shame so let us know what you think but like I wonder at some point like it’s you know it’s it’s just so crazy isn’t it that you’ve got this state sponsored hacking group I mean these guys have been at it for years I remember doing a video on them a couple of years ago it’s a it’s a really fascinating story they hacked the Central Bank of Bangladesh yeah like at some point surely there’s gonna have to be some sort of coordinated effort again I mean maybe there already is but uh oh I love this comment by the way Kim Kim Jong eth from another Nick as well I like it I like it okay uh let’s move on then um let’s look let’s talk about something better than massive massive for you guys some fomo um Nick I’ve got a question for you what’s that mate sidelined sideline well see altcoins are looking good man so I’ve accumulating yeah man I’m not sidelined not being sidelined I’ve been looking at these altcoins they’re looking good yeah you’ll get the reference soon guys if you haven’t already um but yeah so let’s take a look at some of the altcoins I’ve been doing relatively well last last week um and uh some of those that potentially could be an option right now um if you’re looking for high value altcoins that are generating Revenue first one on the list of course is hyper liquid now quick tldr and Hyper liquid it’s a dedicated layer one for per trading and it had a points campaign it was one of the largest air drops ever in history at 7.4 billion four was it 7.4 billion I think so I mean we double check but it was it also had no VC back in okay so which I’m sure people were very very happy with given the the shade they always throw at VCS yeah and this is an interesting chart so this is basically the price of hype versus others now others is all um altcoins uh below the top 10 in market cap just check out that yeah above like a 4% holding holding just steady whil the rest of crypto Mark completely falls through the floor um and the reason for this is because it’s not just about price performance hyper liquid as a protocol as a layer as a a per tradeing de I mean for instance it’s uh monthly trading volume as been up by about 410 per since October um it’s flipped ethereum in day in daily active re in 7-Day protocol Revenue um it’s also you know it’s just it’s just fundamentally um strong protocol and then there’s also navigate narratives from k33 had a um Pro had reports out on hyper liquid in two weeks in a row um and I think what’s really interesting about hyper liquid guy that’s different from other Pro projects is even after the air air drop people got given these free tokens they’re loving the protocol they’re using it yeah which is quite unusual actually because you you know in in today’s in today’s world of crypto you just you get the airdrop uh you complain about um not getting enough of it on Twitter um then you dump uh the airdrop and then you move on and farm something else seems to be the seems to be the meta for this so the fact that people did seem to you know do seem to sort of still be engaging with Hyper liquid and using it um says you know certainly says something um I think I mean there was there were concerns around centralization weren’t there there were to be honest this is around I think raised earlier this year um this is chorus one it’s a validator I mean there the fact I think at that stage there was like four validators and um and they’re basically I think they are upgrading that they’re in the process of onboarding more validators uh so there was a bit a fud about the validator obviously centralization is a concern generally right yeah um and uh and but obviously they are moving towards it um I think there’s two questions I mean one is obviously like can they really challenge centralized exchanges um and uh you know it’s going obviously centralized exchanges you know hyper liquid is their competition yeah but they did relas something last week which is the hyper evm okay now this is interesting because this will allow hyper liquid to be more than just a perex protocol but allow for a compostible application layer that enables D5 Builders to build out daps and further scale the hyper liquid Network um so it allow smart contracts and Hy PRM and they’ll also be able to use the hype token as a gas native gas token within this you know hyperm okay so yeah I mean I guess if they can if they can expand the ecosystem and expand use for for hype then that’s that’s potentially that’s potentially very bullish I mean it’s an interesting one isn’t it because you you sort of it it does seem like something of an outli as as well as the one that we’re going to discuss in a moment in a sea of red where virtually everything has been down um hyper liquid and and a handful of others have sort of been been holding up which is which is quite unusual I guess though even even at times like this in the cycle even when the market generally is puking you’re always going to have you know one or two that are able to sort of keep um keep their head above water and perform but um yeah it’s interesting I I must say I I after hyper liquid launched I kind of thought I can see this being popular for you know a week or two and then everyone will just move on to the next shiny thing so I’m you know I’m kind of surprised that they’ve that they’ve managed to sort of keep um attention and mind share but yeah it seems like there’s lot happening there exactly and speaking of attention and mind share the next crypto we want to talk about is uh Sonic this is interesting so for those who don’t know Sonic is the rebranded Phantom evbm compatible layer one um and it’s very per highly performing 10,000 transactions per second and subsecond finality um and then direct ethereum integration for smoother cross-chain Integrations and interactions yeah um so yes obviously Sonic formally formally phantom um and uh the The Man Behind this well the two the two guys because um uh it’s Michael Kong as well he gets a bit forgotten because Andre Crona um is the other one these were the S these were the guys behind Phantom originally yeah exactly and uh Andre in particular has been very very much out front and center on Twitter very active on Twitter yeah he has the some of the suggestions yeah so um yeah so fee mon this is a big one fee monitorization 90% of gas fees going to apps instead of validators and me that’s great one that’s a big one yeah kind of kind of working towards the the fat app thesis rather than the fat thesis and yeah incentivizing people to build apps instead of just uh you know you know run me Bots to extract value not to mention some other chains like that well I know not mentioning any names um but I think I mean this is an important one isn’t it because like you know there are so many l1s now and it’s tempting again to look at look at another one and just go do we need another L1 well we do need another L1 if if there are daps building on and I guess that you know you need to incentivize them if all the money is going to just ACR to the to the underlying protocol then D Builders are really not going to be incentivized so this seems like a this seems like a smart move and there was a lot of other things that he mentioned there that the fee subsidies are Dynamic fees and Native economic and account abstraction those all make the user experience a lot easier right and obviously for the customization of gas fees and it’s allows for frictionless onboarding of users which is important for daps and last week had some crazy growth stats I put all the quickly run through them um so just total generated fees in over the past few days um Sonic was second owned to salana and then on this Saturday the 23rd of February on that day both in terms of Trades per day and users per day Sonic was the leader there so it was it’s it’s really crushing it and hit about above 500 500 million in tvl and Shadow which is obviously these Sonic decks that the token has done very well so yeah yeah so the still seems to again like it’s been a few it’s been a few weeks now since they since they made the switch from from Phantom and Sonic went live um again still managing to maintain M share um and seems to be a lot happening let’s talk now about one that’s been looking quite good recently looking really good man we have not been sidelined I have not oh man this is such a cool story I love this story it’s such a good news story in crypto and we needed it at this time um so I don’t know if you guys have been following this um aptose GCR guy um basically and I love his handle on Twitter baslam Jihad he’s basically so quickly quick story but this guy literally he’s had a small account literally and every and past over the past few days last week when all the stuff was going on about Libra and all these big Twitter accounts of tweeting he was responding with very simple line you know OS looking good yeah OS looking good yeah just religiously and militantly and um go back to that tweet there guys this is basically one of the guys from block Works he replied to him you know um if you don’t stop Shilling Aptos in every tweet of mine I’ll be blocking you nothing personal just annoying and he tweets sideline and you guys think that itself has created this massive buzz and awareness and cool you know like Community Drive it’s obviously called the apto CTO and now it’s literally become a meme and in of itself everyone’s talking about you know you know what’s looking good here you know sidelined and this guy this guy with a single Twitter account has managed to drive mind share attention marketing to awareness to apos more than millions and millions of dollars of marketing attention literally just from a Twitter account and being militant and persistent so the moral of the stories guys is don’t ask what your bags can do for you but what you can do for your bags absolutely absolutely yeah it’s it’s a it’s a good it’s a good example of a Community member just going out there and making it happen I just love it um obviously you know abdos is a lot more to abdos we’ve covered it many times we’ve done we’ve done it in reviews it’s very highly performed BL um you know layer one with you know this new programming language and you know this um and its eptos bft consensus mechanisms very highly performed and I think what’s also interesting around move itself is they’ve you know as a smart contract language both them suie movement Etc move is considered to be a safer more secure compared to solidity right and they could potentially have prevented this um blind signin hack that we’d seen with Ledger interesting but yeah besides the point it’s just a cool story I think it’s great to cover it and I think we need needed to cover it because and actually it it did have an impact on abdo’s price it was a day last week when abdos was one of the best performers so it just shows you this Community Driven in and and what’s it’s it’s not a mean coin it’s a utility it’s a blockchain a layer one and a Community member feels I need to go and get awareness rot and well done to him well done to Aptos J GCR yeah yeah exactly yeah um and Aptos Aptos as well like it’s been struggling a bit recently I think it’s one of I think it’s sort of struggled for M share against the likes of sui and movement yeah um but positioning itself for payi yeah as well which I think could be you know we we see that as a very big narrative coming up at some point um so yeah very very very interesting to see that that I think that buz lamic Jihad guy I think he follows us on Twitter in fact I think he rep he replied to one of our tweets like sideline I feel rather honored um yeah graced with his presence you were graced with his reply up to us GCR bro thank you that’s what that’s what we that’s what we um yeah okay quick shout out now to our sponsors uh not sponsors brand Partners should I say right they brand parters um so of course worth mentioning if you are looking feeling peckish to pick up some altcoins feel a bit peckish um obviously we’ve got binance now and of course shout out to binance as well given that they were one of the exchanges that was you know front and center helping buyit out when it came to liquidity and all that that’s great to see so we’ve obviously um got a 20% discount here for life at bit as well as a $600 bonus if you sign up using the link down below if you don’t have a binance account already obviously the top tier exchange and now this is also really important to mention now another our other brand partner and this is ledger now obviously we can tell you about this deal obviously you can pick up a ledger stack or a flex um and you can get $10 of free Bitcoin through a um gift card if you buy with a link below exclusively for coin buau but the reason I think is really relevant to talk about Ledger right now is because we about two weeks ago I talked about this in the news two weeks ago but about two weeks ago as well about three weeks ago we met the CTO of Ledger and he specifically talked us through the things Ledger is doing in order to um you know uh clear signing yeah right so so having like human readable uh description of what you’re doing with your device so this blind sign and attack which is you know quite prevalent in the crypto space doesn’t happen um so that’s very important and Ledger is working on this kind of Technology right yeah and it’s yeah I think um I think they made have been doing a presentation about it at e Denver or they may be about to do one but yeah this is I mean this is a huge potential UI Improvement and the fact that it’s kind of coincidental that it’s happened at the same you know that people are talking about it and then this bybit hack happens and that you know that blind signing seems to have been an issue there um but yeah this idea of sort of just looking at a transaction and just seeing an incomprehensible stream of letters and numbers you know that is that is something that’s got to be fixed so if there’s something human readable that you can you know that you can use to say okay this is the transaction that I want to make you know say cold wallet to to warm wallet um as they were trying to do rather than malicious smart contract exactly um so yeah sh prison for Kim johnning when is the description contribution to to North Korea’s nuclear yeah exactly um but yeah anyway you’re going to be doing a a unboxing and walkthrough of the latest Ledger device as well right yeah I’m working on that at the moment and we’ll talk a bit about blind signing uh in that as well but that is a big uh a big thing that ledger are working on at the moment so shout out to them okay uh let’s have a look at uh last week’s top Gamers they were top gers there were some top gainers okay um we’ll start off with this one story protocol Now Kevin one of our gigabrain here did a great write up of story um in yesterday’s newsletter um so basically it’s a recently launch layer one um it’s designed to monize mon monetize intellectual property IP hence the hence its token is IP um it still seems to be IP itself seems to be riding hype around the new launch I couldn’t find a particular Catalyst um that’s um that’s sort of sustaining it does seem to have a large ecosystem developing there so there could be some people sort of aird drop farming holding on to IP so long story short just a bit of highight beautiful Nick remove him remove him um okay what’s next Sonic s continued hype and lots of bull post and from Andre that helped of course and obviously like the growth in the defi ecosystem as well a lot of people Bridge into Sonic so yeah yeah yeah it just seems to be like the buyers have picked out a handful of new projects and are just sort of going after those and leaving everything else by the wayside um that said though uh another top Gainer from last week was maker yeah still make I know they’ve rebranded the sky but no one’s calling them that bit like no one calls Twitter X um so now my theory around this is that eth has rallied a bit um so that has resulted in an increase in defi tvl more D has been Minted as a result so that means more fees um thus more BuyBacks uh so that could be that could be driving makers mkr’s price um usds also kind of held strong um throughout that whole bybit hack and and of course uh maker is a big project in ethereum’s ecosystem as well and eth Denver started yesterday yesterday yeah exactly um so there could be some hype around that as well say um R because of um news that world Liberty Financial had been buying say um so obviously say is a highly performant uh layer one um Bolton Cosmos is SDK um the old the old world the the old Trump pump trump pump exactly you know there we go and you know they’ve been quite they’ d into a lot of projects recently they picking up what they picked up movement two weeks like three weeks ago yeah bought a lot of e um yeah so this seems to be a thing now um world of course there there is this there is this thing that was talked about wasn’t there like World Liberty Financial you know them saying oh well if you buy our token we’ll buy you know we’ll buy some of yours or whatever it is it seems a little bit not sure about that but um uh and then the last of this week’s uh top gainers is Bensel and towel I couldn’t really find much other than to went live on coinbase a few days ago okay so still alive and well yeah there’s uh there’s there’s a lot there’s a lot happening around bensur um there’s a lot of development going on but I think probably the the pump is most in Towers mostly due to that coinbase listing okay let’s have a look at some of the tweets of the week go mix okay uh first up is this one from uh plid uh which is I mean we’re we’re not even through we’re not even at the end not even q1 bro and the last one there is actually the most tragic and I don’t think it got a lot of coverage um apart from people who were looking on Twitter who were looking for cloud well not Cloud but like click clickbait farming but yeah a guy literally you know ended his life on on stream to pump a mcoin and people bought the meme coin yeah it’s wild I I don’t want to sound I don’t want to sound Harden and cynical but I I I almost feel like there was there’s there’s a sense of inevitability about that it’s obviously tragic but lowest lowest of low I mean hopefully this brings about change who knows yeah felt like it was a question of when not if um okay let’s move on um so sounds good yeah this the the diminishing returns from criminals criminals in the past we had some some small like top tier bangers like those of us who do not manage their risk will have the market manage it for them with suzu you had deploying more Capital steady Lads that was that was the Tweet of the last that was also also what are you going to do arrest me what are you gonna do arrest me that was Abby Eisenberg and they subsequently did arrest him they they did in fact arrest him yeah and this cycle what have you got like I didn’t promote it I sh someone said I didn’t promote it I shared it should be the deploying more Capital study Lads of this cycle yeah which I think is about right excuse me well yeah honestly I’m an Insider please yeah let’s that’s that’s akin to Abby eisenberg’s basically so this can only suggest that by the time uh the next cycle comes around um we’re basically gonna be being ripped off by toddlers essentially yeah mind you there was we did have that kid who 14y old broccoli yeah so it’s already okay next one sigh okay uh interesting one um fighting talk from Andre CR here the following is completely biased and salty I don’t think launching your token on Bas coinbase fake Trojan Horse layer to private server just because you want to suck up to them for a coinbase listing is very crypto fair fighting word sir um disclosure coinbase has refused to list EST for eight years for reasons I will never understand which is interesting I mean whym and why would you not list FTM what and you’d list out of day one listing like real dog [ __ ] meme coins sometimes yeah you know it’s very strange the the the the listing the listing criteria the listing process at coinbase and to be fair um most other changes as well is is just baffling to us Outsiders I don’t think we’ll ever fully understand it um okay next one is from Dimitri baronson now this is great good for this is yeah I think after everything else that’s happened this is a good sort of uh checkback of why crypto is important um so this chap is talking about um uh speaking with an aid worker from the Danish Refugee Council uh who uses a crypto payments company to send funds to Sudan obviously Sudan not in a great state at the moment um and yeah this is how crypto is able to get money to individuals directly without a corrupt Central Bank or a collapsed Central Bank in the middle or commercial Banks without any sort of middlemen obviously uh corruption is is is endemic in you know many parts of Africa and elsewhere um which means a lot of Aid money gets hived off um and I mean I think there was talk wasn’t there around the USA stuff I mean the US used to basically fly in pallets of cash um this is this is what crypto can do this is what crypto should be about and I just wish more main more coverage was given to the no one probably this is probably like just one tweet like this story itself should you know counteract all the crap that we seen with the meme coins and all that kind of stuff and the people just focus on the negatives and this is a good news story so it’s good to show it yeah crypto doing what it’s supposed to do and this one the final one well said sir well said yeah what a what a what a line pick reply guy okay yeah reply guy of the year so far there we go okay uh do you want to take us through some coins to watch Nick or I see what sentiment is like in the coin yeah do that uh so coins to watch today is the uh ethereum Epoch 11 15,964 we’ve got the upgrade going live on H sky for the uh Petra upgrade so and of course we’ve also got eth Denver happening at the same time so you know they’re probably sitting there counting down to the epoch that’s going live you know e uh if Maxis and then tomorrow go but that’s been overshadowed by what’s happening tomorrow some really big event happening tomorrow really big event um you know on the 24th of February now I know you probably already have your tickets hedera con 2025 oh yeah the big one this big one guys the big one I Denver Colorado I think that most of the eth guys are there just to attend hok khon I think so e eth Denver is a side event for them yeah exactly it’s all about herera so uh well yeah I mean we could see some we could see some uh big announcements I mean we throw shaded but I think it’s obviously there’s a lot of excitement arounda obviously a USA focused coin you know they obviously potentially have an ETF so you know Jokes Aside you know it’s exciting stuff we’ll see what comes out there um then on the 27th of February we’ve got Sonic svm now not to be confused with Sonic this is a um salana layer 2 extension kind of thing and they’ve got their main net Mobius going live on the 27th of February yeah okay okay um and then we’ve got some dates for the diary for next week as well including including one that no one is talking about oh yeah exactly no one’s talking about so we’ll start first with the February 27th there’s the initial jobless claims um we had the previous at 219,000 um and the forecast at 225k so that’s important from the perspective of the fed and growth but the biggest one of course on the 28th now guys I didn’t know if you know this but it’s very important for bitcoin’s Price especially there is a planetary alignment which could mean some general instability uh so you can take a look here apparently there’s a rare Cosmic event and I’m it’s a very big news guy abut it’s Bad Moon Rising for Bitcoin and apparently Mars Jupiter Saturn Venus Uranus and mercury and Neptune will form a planetary parade a rare Cosmic event that won’t happen again until 2040 and apparently according to this um ta professional SL asrology um ta whatever it mean I mean this it means it means uncertainty for Bitcoin so specific as well more uncertainty guys more uncertainty the planets are aligned to more uncertainty who would have thought that God that’s mindblowing okay so this is what you didn’t see coming folks the planets are aligning um and that means Bitcoin could go up or it could go down exactly well well well the crystal ball of you know Crystal ta what did they say um techn technical analysis is astrology for men’s yep there we are there this is a perfect meeting of the two um go this must be some sort of indicator it we’re basically we’re basically begging for the planets to pump our bags please come on guys go just get in a nice line not until 20 either that you’re gonna have to wait until 2040 for your next opportunity to pump your back it’s it’s it’s now or never guys it’s now or never oh man and then relatively minor event after that the 28th we’ve only got the core PC numbers you know that doesn’t mean much to be honest it’s no when year as important as the factory alignment but yeah for what it’s worth core PC numbers 2.4% expected so keep an eye on that okay ah PC who cares the planets are aligning Jerome is like I don’t care about the PC numbers what does the planetary alignment tell me about the global flows of liquidity Jerome will just get up there on stage and be like okay so planets are in a line this is big folks this is big um okay uh GDC music also points out in the comments Nvidia earnings this week as well abely right that will be um that will be big for uh big for AI crypto well I say it’ll be big for AI cryptos the way the market is I think it’ll just think it’ll just go and that’ll be it yeah um so we shall see um okay um there’s some interesting comments around the uh around the astrology bit so that’s dates for the diary let’s just do a quick sort of sentiment check um as uh let’s see how you guys are getting on in the comments it’s been some interesting ones throughout the stream planet’s alignment looks strong here we go there was an extraordinary one um someone saying uh Justin is saying you’re laughing but there’s a quote millionaires don’t use astrology but billionaires do do they can can someone confirm this like fact Checkers lot of fact Checkers I’m not say I’m not saying you’re wrong Justin it’s just I haven’t heard that and I don’t know what the kind of what’s the what’s the reference to that basically billionaires are basically they’re working on a different time scale or they thinking more gigger than us they just they’re just thinking on a planetary scale I don’t know yeah exactly I don’t know well in that case uh just use you know just use this planetary alignment to adjust your portfolio and you’ll be billionaire yeah so there you go um okay uh someone saying literally no one outside of crypto remotely trusts crypto I I kind of think you’re right I think you’re right I mean especially when they read headlines about you know mcoin scam um yeah and $1.4 billion dollars going missing um so yeah I’ve i’ I’ve long said that like crypto’s PR problem outside of crypto is probably one of the biggest hurdles we face um and things like uh you know things like the Malay mcoin thing just don’t help it’s uh it’s bad now um utab is asking about pith hey guys since you bought pith Network it’s been going down yes thanks for reminding me uh are you still holding and still remain bullish please update yes I have not sold any pith um I haven’t bought any for a while either um but I might buy some more I’ve I well Nick you did an interview um with the guy from dur Labs a while back dur the CEO yeah I mean I think that P look I mean from a protocol perspective and from things pth is building and integrating with as a highly performant Oracle Network I think Perth is second to none it’s just that the toonomic component has been a bit you know difficult they haven’t necessarily developed um use cases and utility for the token however that could change with new regulations that comes out in the US I and that’s me speculating um but I think that the only from a protocol perspective yeah I think that Perth is an oracle network is perform highly performant integrated with a lot of um you know I think they they had a big integration loss we are contra but yeah I think there’s also talk of a grayscale trust as well oh yeah that’s it of course scale trust um yeah look I I thought pith would um would be a big play for this cycle I’m kind of thinking now it’s more likely to be a big a big play for next cycle but it’s one that I think uh has got a lot of long-term potential I think it will end up becoming a core pith network will become end up becoming a core component of the sort of overall uh crypto um ecosystem so I’m content to hold on to it uh for the long term um but yes thanks for reminding me that it’s been going down um okay coin Bureau trading waiting in on the guy shaming uh guys gains are heavy courtesy of coin Bureau trading yeah stacking those gains stacking those gain stacking those just it’s just not look if I do that I it’s just my posture and my t-shirt you tell yourself guy whatever makes you get to the start um some interesting ones here as well uh coin smoker House of crypto YouTuber got hacked for over 100k too yes did you see this yeah no I actually tweeted about this the yesterday I I got an an interview invite from a Bloomberg reporter actually he wants to talk to me all about crypto oh really yeah he does and I’m not joking guys literally I’ve tagged him on Twitter if you want to go and take a look his name’s Bloomberg surge he’s got like 30 followers and he’s been retweeting a lot you know not too suspicious at all I’m telling you yeah he basically so if you guys don’t know there’s this thing going around in crypto Twitter I think I’ve seen two people about it um you have a Bloomberg reporter reaching out to you he wants to do an interview and in the interview apparently he’s quite a well spoken chap whoever this Bloomberg interviewer is he goes and does the interview with you and then um he basically in obviously it’s a zoom interview and they install malware and they take everything right and they get access to Twitter get access to all that kind of stuff um so I’m gonna have to postpone my my interview with Bloomberg Serge until I get my M way scan done and everything um absolutely um I funnily enough I was watching uh that uh House of um House of crypto I think it’s Peter is it um I was watching his video where he talks about that shortly before we came on stream um and he was yeah he was very C sort of very upfront about you know what happened and stuff but poor guy like it but he you know yeah figured it out sort of in and it’s one of these things I think he went back through it and was sort of like it’s only then that you see the red flags but by then it’s too late yeah I mean a CNBC reporter tried the same thing about two months ago guys so with me so I was like oh okay CNBC wow okay yeah okay um uh this one uh from Ben about um Kim Jong-un bro he banned the internet in his country but still manages to F yield off your metam I know I know it’s wild it’s wild it’s wild bro and also like how sophisticated the hackers are yeah like this is their only source of income like I I what I heard some some amaz crazy stats in terms of like in terms of to fund their nuclear devil like how much of it comes from state sponsored hacking it’s a large amount crazy large amount so there’s a great uh podcast I think it’s called The Lazarus Heist um which is the same guy who did another great podcast called The Missing crypto Queen about one coin um it’s really really good it talks about the Lazarus group um it’s it’s a it’s a few years old now so it sort of takes I think it takes them up to I can’t remember what year exactly but it’s a really really good podcast the Lazarus Heist it’s called and that goes into a bit of detail about how the Lazarus group works it’s just it’s such a crazy story it really is but um yeah it’s it’s definitely worth listening to that one um uh Nick is looking uh looks like the count of crypto you do look quite Gothic I am gothic today as you just crypto it doesn’t work with the blonde hair though doesn’t okay died out you need to be I can just go and do the same look that those other guys the walls look yeah like the god crypto we’ll get the we’ll get the you up um and uh we’ll leave you with this one guys Henry down under must be an noing nothing wrong with being wellfed mate absolutely thank you Henry D there you go thank you um okay well thank you everyone for tuning in it’s been great to see you uh another eventful week in crypto what’s going to happen this Friday oh man God the universe will you know just please just can we just have a nice week can we have can we just have nothing to talk about on next week’s show but I kind of think we probably will well there’s a 3% chance of metor right here in the earth in the next few years maybe so there’s that basically we’re threatened from outer space so let’s I hope the planets aligned for you guys and your portfolios um we will be back next week so thank you for watching and we’ll see you there guys nice but much better than those shuen tees right pickle has been added to my vocabulary don’t work for Me Argentina hit it always love your info W Argentina has [Music] me all right pickle has been added to my vocabulary don’t for Argentina Argentina has got [Music] [Applause] be okay interesting oh
