Hosts:
Jesus Burgoa (JR), Founder & CEO of Social Market
Co-Host:
Leon Hitchens, CMO of Social Market
Hosts:
Jesus Burgoa (JR), Founder & CEO of Social Market
LinkedIn: https://www.linkedin.com/in/jesus-rafael-burgoa-b34874170/
Website: https://jrburgoa.com/
Co-Host:
Leon Hitchens, CMO of Social Market
LinkedIn: https://www.linkedin.com/in/leonhitchens/
Website: https://www.leonhitchens.com/
Find Us:
Spotify: https://open.spotify.com/show/3cfUVNwIm2AXt2oZ0nx2Dv
Apple Podcasts: https://podcasts.apple.com/us/podcast/the-social-ledger/id1803475184
YouTube: https://www.youtube.com/@TheBoostChannel
Website: https://theboost.fm/social-ledger-report/
In this week’s episode of the Social Ledger Report, JR (Founder & CEO of Social Market) and Leon (CMO) break down the biggest crypto headlines—without the noise.
Worldcoin Is Back in the Spotlight
Sam Altman’s iris-scanning crypto ID project launched in the U.S., partnering with dating apps and prediction platforms like Koshi. The team discusses privacy concerns, blockchain security, and the real impact of Worldcoin’s tech in verifying identity across platforms—plus whether it’s worth getting your retina scanned (hint: there’s free crypto involved).
Ripple’s $20 Billion Power Play for Circle
A bidding war is heating up. Ripple started with a $5B offer to acquire Circle (the company behind USDC), which was rejected. Now, Ripple has upped the ante to $20B in a strategic move to dominate the stablecoin space. JR and Leon unpack the motives, IPO implications, and whether the government would even allow the deal.
EU’s Privacy Coin Ban & What It Means
The EU moves to ban anonymous crypto and privacy coins like Monero for financial institutions. The hosts debate privacy vs. regulation, draw parallels to past crackdowns, and talk about how this could shift innovation away from Europe.
Hot Take of the Week:
The crypto narrative has changed—from “F the banks!” in 2017 to “please regulate and give us ETFs” in 2024. Is this growth or selling out?
Stay updated on crypto, tech, and market trends. Subscribe, follow us on socials, and check the episode links below for all the sources discussed.
Links Mentioned:
https://twitter.com/cryptobeastreal/status/1918279964509782492
https://cointelegraph.com/news/eu-crypto-ban-anonymous-privacy-tokens-2027
https://twitter.com/Crypto_Briefing/status/1917644734002082295
https://twitter.com/Tytaninc/status/1917771656220795294
https://cointelegraph.com/news/sam-altman-eye-scanning-crypto-project-worldcoin-launches-us
https://twitter.com/rovercrc/status/1917784314231640458
https://www.cryptopolitan.com/ripple-20-billion-bid-to-buy-circle
0:01
hey good afternoon this is JR founder and CEO of Social Market here with Leon
0:05
CMO of Social Market and this is Social Ledger Report i’m pumped man lots of
0:10
news this week too well I feel like I say that every week but this week feels
0:14
like a lot of news dude there is always so much news in this space which is our
0:19
job here to help you stay on top of it of course if you’re not on Twitter that
0:23
is but you know we try to dissect it and give you the news that you that actually
0:27
matters we also try to remove all of the noise that you know comes when you’re
0:32
going through all the weekly news so this is why we’re here so with that said
0:36
you know the first story that we want to talk about is Worldcoin came out and it
0:40
made a lot of noise on crypto Twitter on the internet you name it but um have you
0:45
heard of Worldcoin before Neon what do you have any thoughts with that yes so
0:49
I’ve heard of WorldCoin it’s from Sam Ultimate same dude behind Chat GPT
0:55
OpenAI i think they’re separate companies almost positive it’s a digital
1:00
like ID system based on crypto when you scan your iris mainly in third world
1:05
countries you would get crypto announced in the United States that’s that’s what
1:09
I understand pretty much so here I’m going to share
1:13
with you what appears to be Sam Alman on stage making the announcement and it
1:18
actually partnered with Koshi which is a direct competitor to Poly Market that
1:22
does prediction markets on chain koshi doesn’t do it on chain it does it with
1:26
traditional finance with with US dollars here in the US which is as far as I know
1:30
the only regulated one but all that to say that even though World Coin just
1:35
released this week like it’s already making a lot of moves so if you guys can
1:39
see my screen here this post is by historic bids quote Sam Alman’s World
1:44
Coin launched in the US last night which is May 1st so it was what Wednesday when
1:50
it launched this week and they’ve partnered with May 1st was yesterday
1:54
yeah so so this is Friday and that’s May 2nd so literally Wednesday it launched
2:00
and it already made a partnership with with
2:04
Well yeah you know so so here okay so Kashi’s you Kashi’s using Worldcoin as
2:12
their their base and Worldcoin’s based on is it an ECR
2:17
worldcoin that I cannot tell you because I don’t
2:21
know worldcoin as far as I know is a layer one or no it’s got to be a layer
2:26
two if I’m not mistaken well that’s embarrassing i
2:30
don’t remember but if anything I know that it is a it is a layer
2:39
to Ethereum based crypto okay so it’s an ERC20 then that’s that makes sense yeah
2:45
so so it being an ERC20 makes it so it’s part of the Ethereum ecosystem which
2:50
means you can use it with unis swap you can use it on base you know all that
2:54
sort of thing as long as it’s you know bridged in those networks but it being
2:59
ERC20 is pretty big um so there’s another thing that I want to share with
3:04
you as far as this story goes i think it’ll be best if I share my entire
3:09
screen here again so it actually partnered up with dating
3:14
apps so this guy said it’s finally an end to the bots on dating apps thanks to
3:21
Worldcoin so I don’t think this is Sam Alman it kind of looks like him for a
3:26
moment but I think you know how you mentioned how it scans our eye retinas
3:32
to make unique accounts for everyone first of all I didn’t know retinas were
3:38
unique in that sense like our thumbrints but I guess what it’s trying to do here
3:45
is and it doesn’t go too much into detail but it’s trying to you know
3:50
remove the bots from dating apps i think that’s also kind of big
3:55
yeah that makes sense it’s a high It’s a high risk
3:59
place and it’s also a lowrisk place where I think a lot of people probably
4:04
do there there’s a lot more places online that want to validate your ID
4:11
especially as like states are tackling like adult content websites more adult
4:17
content websites need to have verification methods to make sure you’re
4:21
18 make sure you’re 21 like this world ID might be coming at a time that’s
4:28
actually really relevant there was kind of like that one platform it was called
4:33
ID.me you uploaded your driver’s license and the IRS was going to use it but this
4:39
seems way more safe it’s onchain like obviously
4:44
you can manipulate it you know at the the point of you know upload
4:49
but this is a you know again the dating apps are so low low stakes low risk for
4:57
everybody that I feel like a lot of people will do it and the fact that the
5:01
match group is there the match group controls like 90% of all like dating i
5:06
think they own OkayCid Tinder Match like everything
5:12
plenty of fish i think the only one they don’t own is Bumble i think Bumble is
5:18
its own separate you know corporation i could be wrong but to your point yeah
5:25
Worldcoin I would argue it well I I have mixed feelings i would I would trust
5:31
Worldcoin more than I do ID me because you
5:35
know I mean it’s first of all being on the blockchain makes it so it is already
5:41
encrypted depending what the text stack is but anything that goes on the
5:45
blockchain it’s automatically encrypted sure you can see where the transactions
5:49
are moving in between you know wallets and everything to a degree but it’s
5:55
still encrypted you there’s more level of anonymity against you know simply a
6:00
database holding all of our you know social securityities driver licenses you
6:05
name it so I would for that reason alone Worldcoin more than you know I
6:13
I’ve got a startup idea man we should just
6:16
put like a uh 23 and me on a blockchain dna you know encrypted secured kind of
6:26
open in that sense but also not owned by a private company like
6:32
our next startup yeah I mean that that’s honestly a good
6:35
idea too because you know I think we are every every cycle and I say cycle
6:41
because of like the Bitcoin cycles being a playing a big influence for what’s
6:46
happening with you know crypto companies startups and just
6:50
projects i think we’re at a point where we could start seeing you know storage
6:55
based applications or use cases on blockchain so that would be an a good
6:59
example for a startup if anyone out there wants to build that you know let
7:04
us know we got 10% i think right 10% of what we need it immediately 10% of
7:11
whoever builds it yeah yeah well that’s our bid so going back to So so here’s
7:18
the other thing and this was actually a big controversial thing which again I
7:21
have mixed feelings but you know it if it’s stored on the blockchain okay
7:25
that’s where I’m not as concerned so again the world coin you know had a lot
7:30
of controversy back in 2022 2021 because it was scanning people’s retinas so you
7:36
know this article is from Cointelegraph the title says Sam Alman’s Ice Scanning
7:40
crypto project uh world launches in US so we already know that I was reading
7:46
this article and I’m not going to go through everything but just to kind of
7:48
highlight what we were talking about previously matchmaking with verified ID
7:53
the online dating giant matched group which owns Tinder and all those dating
7:57
apps that we talked about we’ll also begin pilot program testing out our out
8:02
world ID for its apps so you know it’s here in the here’s it’s here in the
8:07
print and it’s you know I think this is one way
8:12
they’re going to combat bots which you know uh it says here makes a lot of
8:17
sense on that front and it also again like so many people probably are going
8:23
to get verified on these apps that it just it makes sense like it was a good
8:28
partnership in the end super it it it could even help with like uh
8:34
identification for web 2 applications you know like if it could somehow
8:38
replace ID.me then you know I would trust that even more so it it follows
8:45
more with this world has established separate partnerships with prediction
8:48
market startup Koshi and decentralized lending platform Morpho upman co-founded
8:54
the project in 2019 when it was known as Worldcoin to create a global
8:58
identification or identity ver verification system using the blockchain
9:02
to combat fraud and bots it rebranded to world in 2024 and currently has 26
9:08
million users globally with 12 million of them verified through orb scans so
9:14
you might be thinking what are orb scans you know I don’t know if you live under
9:17
a rock first but um I’m going to show you the process of what it’s like to you
9:22
know go through this uh eye this orb scan with your retinas so hopefully it’s
9:29
not too loud we went through this process so first of all the fact that
9:33
you’re getting monetarily incentivized to scan your retinas is unique you don’t
9:38
see this outside of web huge yeah and the other thing that I
9:44
wanted to share is the price of worldcoin has pretty much been on on the
9:49
down low which depends how you look at it i see this as an opportunity to start
9:53
buying but then again you know what’s the like the one-year chart of it the
9:58
oneyear chart it’s I was it was in an all-time high of about $6 almost pumped
10:04
up a little bit and down May yeah and I mean right now not to get very political
10:10
but you know tariffs and everything that’s been happening under Trump on the
10:13
markets right now isn’t helping anything even Bitcoin so you know this isn’t
10:18
surprising but if you’re bullish on Worldcoin you know when I first started
10:23
reading this article stuff like this week I started getting more bullish on
10:27
Worldcoin at first I was very quick to dismiss it because you know I wasn’t as
10:32
attentive to what it was trying to do but after reading the story this week
10:36
and just doing my research I’ve become more bullish now um as we all know the
10:44
um well this was back in 2024 but its all-time high seems to be like about $11
10:51
$12 mark depending on you can buy it on Kraken but I don’t know what other
10:57
exchange you can buy it on the price might be a little bit more
11:02
in the $12 mark so it’s right around that ballpark with that said you know
11:07
not financial advice but I’m going to start buying some worldcoin after this i
11:12
don’t know about you maybe maybe i do want to get my Irish scan though like
11:16
where do I sign up that’s a good question so I did not look
11:22
at that but I bet if we go to worldcoin you know do a simple Google
11:28
search so I believe it’s world.org or you know get the world app you get the
11:34
app and then you must according to that video go to somewhere where you can scan
11:39
your retina in that physical device so for reference we we live in Texas
11:45
so you know maybe you need to find some nearby location where they have that eye
11:51
scanner maybe it’ll tell you more once you do you know go through the app
11:55
process to download it so you know I’ll have to get back to you on that next
12:00
week let you know how it goes i’m looking it up right now i don’t see
12:03
anything in the United States there’s one in Austin
12:08
austin has everything so if you live nearby Austin if you want to get some
12:12
free world coin by scanning retinas then yeah it’s San Francisco Austin Los
12:17
Angeles there’s another there’s actually one two three San Francisco’s one LA and
12:22
one Austin okay that’s not bad we’re going to go to Austin i mean Austin for
12:27
those of you who don’t live in in in Texas like us but Austin is like the
12:30
crypto capital of Texas where they have companies like there’s there’s some
12:34
presence there with Capital Factory some startups there have launched in Austin
12:39
with their crypto presence there so oh yeah I’m not surprised
12:45
okay that’s pretty much as far as we have to say as far as I have to talk
12:48
about Worldcoin but uh we have more stories to go through anyways so yeah so
12:56
the next big story it’s actually Ripple going into a bidding war almost well not
13:01
a war but just going into a bidding back and forth with Circle it’s trying to buy
13:06
Circle the the USDC provider stable coin so saw this post on Twitter and it talks
13:13
about earlier this week ripple or XRP offered 4.5 or 4 to 5 billion to buy
13:21
Circle USDC company but Circle rejected the bid as too low
13:27
so when I first saw this I was thinking well this is this this is just
13:33
typical capitalism company trying to buy a competitor to you know be the main
13:39
player in the in the game and right now you know I don’t know if you know this
13:42
Leon but right now XRP did launch not long ago their own stable coin it’s
13:47
called it’s called the RLUSD so it’s remind
13:52
Yeah so so if you look at u the pricing on coin market cap it’s right just right
13:58
under a dollar you can buy it on Kraken and you can also trade it on unis swap
14:04
unis swap you can trade almost anything if I’m being honest uh but you can even
14:08
buy Kraken with XRP itself you can buy it with uh USDT or USDC so pretty widely
14:15
available on on on Kraken i was kind of Did you see an update from um the his
14:22
name Sid on Twitter no I don’t think I have here let me share my screen real
14:27
quick yep by all means excuse me so so that’s pretty huge yeah so he said uh
14:33
Circle’s profitable it’s on track for 50 million ARR by end of year and then they
14:38
had a 100% annualized growth on 200k in free cash flow which is huge and um well
14:46
their their like growth on that you know just like 2021 Forex 2022 started to it
14:51
started to slow everyone started talking about it slowing but it’s it’s like
14:57
growing substantially you know every time and then I was looking at that $4
15:02
billion offer people were talking about like their IBIDA is about 300 million so
15:10
they were talking four to five billion valuation for IPO
15:13
So like wow that’s a you know like that’s roughly what they’re worth right
15:18
now so it sounds like Ripple was trying to buy them at base value but as far as
15:23
I know when you’re trying to buy a company where or or an entity you
15:27
usually pay like five times their price because you’re looking at a 5-year
15:32
growth return if I’m not mistaken you probably know about it more than I do
15:36
but that’s what I’ve seen there there’s definitely a premium when it’s a
15:40
publicly traded company you’re generally paying like pretty close to you know if
15:46
if a shares $20 a share they may offer $30 a share which is a premium on it now
15:53
when it’s a private company like it’s a toss up of like you know 5x revenue 5x
15:59
you know profit like there might be something like that but what what did
16:04
Ripple offer i think the first time was what four or five billion
16:08
4225 billion which USDC said “Nah [ __ ] you that’s too low.” So Ripple’s like
16:13
“All right bet.” Which is kind of breaking news because today Ripple came
16:18
out like maybe just a couple hours ago by the time you’re going to hear this
16:22
but Ripple came back saying “Hey you don’t you didn’t like 5 billion all
16:26
right how’s how’s 20 billion?” So now they’re going at this back and forth
16:30
bidding which you know there’s that premium
16:34
which I wonder why they’re not just waiting till Ripple goes public and
16:39
making an offer because then the board would have to like have to accept it
16:44
unless unless they just think that that uh circle is going to go public and it’s
16:48
going to like the stock’s going to skyrocket
16:53
i I would bet in my life that Circle would skyrocket because right now the
17:00
only crypto the only cryptobased stock that we have is Coinbase we’re going to
17:05
start to see that again with we’re going to see that later with Kraken as well
17:10
but Circle would be the third one whoever you know which whoever comes
17:14
first either Kraken or or Circle so I think if it goes public it’s only going
17:20
to become pricier because people are going to be able to buy the stock and
17:23
that’s going to increase the valuation of of Circle so I think Ripple is doing
17:27
it smart in that sense where they’re trying to get in a little bit earlier
17:31
they probably should have gone a lot early if I’m not if I’m being honest but
17:35
you know so So here’s what it says as far as this story this is from Cryp
17:41
Cryptopolitan i don’t know if you that’s how you pronounce it but Cryptoolitan
17:45
says Ripple is reported to have increased its offer to purchase circle
17:48
the issuer of USDC from 5 billion to cover 20 billion and it says the higher
17:54
valuation is now under active negotiation according to Bloomberg
17:58
sources if confirmed the deal would shift the balance of power in the global
18:02
stable coin market because right now circle is the dominant player with USDC
18:07
and it’s also Coinbase back so Coinbase is probably the most you know biggest
18:11
name in the crypto space so here it says Ripple’s move to acquire Circle would
18:15
give it control of USDC the world’s second largest stable coin which I think
18:20
USDT is the number one if I’m not mistaken the timing of the proposed deal
18:25
comes as a circle is cautious after filing an IPO application in the US
18:30
crypto lawyer Bill Morgan hinted that Ripple’s RLUSD token launch may be a
18:35
precursor to his acquisition attempt rlusd is a compliant enterprise stable
18:41
coin meant to be embedded into Ripple’s global payment system and lastly crypto
18:46
influencer crypto described the movement as an aggressive market consolidation
18:51
ripple buying circle is not for the financials she said citing a larger
18:55
ambition to buy out circle’s infrastructure and limit and limit
18:58
smaller rivals so it’s kind of like a power play based on this post from
19:03
crypto airy and and there’s I wonder if the government would allow it then
19:07
honestly if I’m being honest given the state of the current administration
19:11
they’re probably going to allow it if they’re incentivized to I don’t know
19:16
they have they have a Roth relationship with like tech companies like they do
19:20
they’re still attacking Google they’re attacking Facebook like market
19:25
consolidation might not be good but also they just might not be able to like def
19:32
this true true i mean this is monopoly like 101 you know like Ripple monopoly
19:39
that is it crush the smaller players exactly and
19:44
and you know under capitalism you want to have a you know you know not to get
19:49
political again but like under capitalism the idea is to you know have
19:53
a free market where people can compete to create a better product for everyone
19:57
and and I’m very much in line with that so I think the government should also do
20:01
its job by you know preventing big players from eating out the smaller
20:06
competition because there will be a stagnation from innovation you know and
20:11
that’s not good for anyone except for Ripple in this case if they end up
20:15
buying them so I’ll be honest I hope they don’t buy them that’s that’s my bet
20:20
or that’s my hope but you know we’ll see what
20:23
happens and right now there’s this other article from Forbes where it also
20:29
acknowledges that this is a power move basically why Ripple’s 5 billion
20:34
offer to circle was more than a power play you know they’re basically trying
20:37
to control the market so that’s kind of like the TLDDR from this article which
20:41
we’ll put the link in the in the bio as well if you want to look at it it’s
20:45
about it I think i don’t know if I have any other I don’t know if you have any
20:48
other thoughts on this story great we’ll see the outcome like I think that’s
20:52
going to be the important part yeah this was probably the second biggest story
20:56
you know we’ve been covering circles IPO for the last few weeks and if you want
21:00
to look at it you can always look at the other videos in this channel but um you
21:04
know we’ve been following this case closely and and you know unsurprising
21:08
how how far circle has come why Ripple wants to buy it so
21:13
okay we’ll see what happens talking government
21:17
regulation there’s going to be some regulation specifically in the EU and
21:24
the interesting part is just going to be how it has ramifications so the EU is
21:30
talking about banning an well they’re not talking they’re going to ban
21:34
anonymous cryptocurrencies and privacy tokens by 2021 i’ve got mixed thoughts
21:39
on it so the the overall article on it is they’re using it uh as a
21:47
anti-moneyaundering regulation where credit institutions financial
21:51
institution and crypto like asset providers are prohibited from
21:55
maintaining anonymous accounts or handling privacy preserving
21:59
cryptocurrencies so it’s not saying like anybody couldn’t have it but they’re
22:05
more or less saying like any you know large company is not allowed to hold it
22:10
so I think like crypto exchanges wouldn’t be able to touch it you know
22:15
any any sort of bank wouldn’t be able to touch it like it’s a it’s a big thing
22:20
and the part that I’m kind of like caught up on is everybody was
22:25
talking how crypto will make things more private there’s more privacy to it and
22:29
then now everything’s really moving to like this kind of like public
22:34
quasi private like you know transparent blockchain where you can see everything
22:39
but also some things are you know they are hidden in some way yeah so for a
22:46
long time and I’m looking for this one meme that I want to share with y’all
22:50
just to kind of drive this point home i remember back in now mind you I’ve
22:57
been in crypto since like maybe 2018ish but you know back then even like people
23:02
were were were in Bitcoin were loving crypto as a whole because of the privacy
23:07
you know sure you can still audit the blockchain you can still have a
23:12
transactional history of where the movie has gone you can see where the whales
23:16
are putting their money if and where money is being laundered like yeah it’s
23:21
it’s open in that sense but it is still anonymous where you don’t know you know
23:26
the IP address you don’t know you know who what person is tied behind that
23:31
money moving around it’s all just encrypted you can see the the wallet you
23:36
can see the transaction IDs you can see the wallet where it’s moving but you
23:40
know that’s as far as it goes and and it’s still rigorous to to trace all that
23:45
but you know it’s it’s still private in that sense i don’t I don’t like I don’t
23:49
I don’t like that kind of regulation on the EU behalf that is in the EU so the
23:54
US you know hopefully it doesn’t follow suit if if it were to happen in the US
24:01
which I given given the track record of the lacks regulation in crypto we’ve had
24:07
in this new administration i don’t think we would
24:12
see that in the US happen anytime soon and if it were to happen you know right
24:16
now you can buy Monero from Kraken it’s the only crypto exchange centralized
24:21
exchange that lets you do that otherwise you can actually get Monero by mining
24:25
doing CPU mining so if you’re mill Yeah you can you can always you’ve always
24:29
been able to do that i don’t think they’re ever moving to proof of stake
24:33
don’t quote me on that though but I know I know you can still mine Monero with
24:38
CPUs which I don’t know how familiar you the audience are with GPU mining or
24:43
crypto mining but for a long time you know you could mine Ethereum with a GPU
24:47
i did it for a couple of years from 2020 to 2022 and I mined like over two ETH on
24:53
on my GPU mining so I mean it it’s nice but for CPU it’s it’s a little bit more
24:59
nuanced you know you need to have a different setup you need to you know
25:02
much more different setup so my guess is if Monero decides to you know not be as
25:08
easy to get then people are either going to one start mining with their CPUs or
25:13
two they’re going to start you know kind of like in the old days with Bitcoin
25:17
they would just go to people and be like “Hey I’ll trade you US dollars or
25:22
Bitcoin or whatever so you can give me Monero.” So we’re gonna maybe see that
25:27
yeah it it’s I think it’s just really sparking that debate over privacy versus
25:32
security like these privacy coins are they’re they’re definitely used for
25:36
legitimate purposes there’s also just like you know Signal or Telegram
25:42
like there’s apps out there that are you know encrypted end to end that are meant
25:47
to you know protect people like journalists use them we see that you
25:51
know the federal government uses it for for very particular things there there
25:55
could be reasons to you know have a have a way to funnel money without knowing
26:00
you know who’s sending it or who’s receiving it so it’s just my thought is
26:05
that the EU is kind of clamping down on these innovations a little too early and
26:11
yep it’s going to risk you know what cryptocurrency looks like in in the EU
26:17
you know just just like China and um I believe Russia too did the the GPU
26:22
mining they they just said no more on the crypto and then I think they’ve kind
26:26
of like backtracked a little bit but it it’s just not a great thing to kind of
26:30
stop these these innovations and put these roadblocks to it i think there’s
26:35
better ways to kind of prevent the crime from happening where it happens
26:39
everywhere even in a cashbased society yeah I agree so you know the EU is great
26:46
you know like if I eat food over there in the EU you know I feel a lot better
26:50
than I eat the food here in the US so the EU is not that terrible but you know
26:54
when it comes to I’ve noticed a pattern where innovation technology capitalism
26:59
as a whole you know it’s very restricted over there so unsurprisingly a lot of
27:03
the competition and investors move to the US for those reasons so one more
27:09
thing I’ll share here and this is kind of what I was talking about earlier you
27:13
know if I don’t know I don’t know how well first I don’t know how you as a
27:17
viewer feel about Monero suddenly being more restricted than even other coins or
27:23
even Bitcoin but I for one am not happy and I don’t think you’re happy about it
27:27
either Leon but you know I think right now we are seeing a huge shift on what
27:32
is more of a priority for people on crypto as it becomes more mainstream so
27:38
I have this meme that kind of reflects how much Bitcoin narrative or crypto
27:43
narrative has changed over the last few years so at least back in 2017 the
27:47
crypto bros you know they they cared a lot about the utility they were like
27:52
“Fuck the government and the banks decentralized peer-to-peer currency and
27:56
mining you know this was the the trending topics
28:00
and now it’s like meme coins banks and government please buy ETF please and
28:07
regulation good yeah this is very true like this is to a to a te like utility
28:14
coins decentralized P2P currency literally and then everybody is
28:20
like you know we need to have the mass adoption of it it’s it’s also kind of
28:24
just following what’s happening in government you know like the fact that
28:28
government’s popping and big money is popping in too and when big money comes
28:32
in that’s that’s the difference it’s good and bad you know nobody talks about
28:36
NFTs anymore yeah i mean I I I still like NFTs my
28:41
favorite NFTs are doodles like they had a partnership with with McDonald’s a
28:45
couple years ago yeah like I actually don’t hold any of those but like I I
28:49
would love to they’re just pricier but I digress an early deal oh nice nice nice
28:55
so I mean we’ll see what happens i think there needs to be a fine line of balance
29:01
between the mindset that we saw back in 2017 and what we’re seeing now where you
29:06
know government big companies are adopting crypto which I think it’s good
29:10
for everyone if you’re in crypto the total addressable market or the TAM as
29:14
we like to call in the startup world you know it’s going to increase a whole lot
29:18
just by old old markets you know normies adopting crypto it’s become it’s going
29:24
to become more relevant and that alone is going to help everyone with the
29:29
adoption you’re still going to have the niche crypto bros who are like “Oh but
29:34
[ __ ] the governments they shouldn’t interfere you know I want to own my own
29:38
money i want to you know be able to send money and
29:41
in the most freedom way possible or whatever narrative that’s good still and
29:45
and as long as they don’t change crypto because that’s what crypto already does
29:50
they don’t make it so oh hey you know you need to I don’t know i mean KYC is
29:55
good i understand KYC but if we need KYC for everything then that’s going to be a
29:59
bit of a problem right now the way you avoid KYC is through decentralized
30:03
exchanges self-custody wallets so while we still have those services and the
30:09
government doesn’t to the government doesn’t decide to do overreach then I
30:13
think we’ll be fine yes that’s exactly that’s where I’ll leave it at no I
30:18
that’s that’s all the topics like man crypto is just flying partially the
30:22
reason it’s flying is cuz you know that the Trump administration is really into
30:28
crypto and then a lot of crypto like news and deregulations happening so I
30:33
think I think the next four years are going to be like cryptoheavy it it feels
30:38
like months and months have gone by so far but it’s only been 100 days since
30:43
the change in deregulation of this yeah I agree so we’ll see what happens
30:49
maybe next week we’ll have a follow-up i honestly I’m I’ll be honest i’m pretty
30:54
sure we’re going to have a follow-up on Circle’s fiasco we’re we’ve been
30:57
following it pretty close so we’ll keep you updated with that and we hear any
31:01
other stories next week well you know you can expect us but um subscribe to
31:06
the channel if you want to stay on top of the news for the crypto world and
31:09
tech stuff as well um follow us on our socials we’ll leave all the links below
31:14
for you to for your convenience and also if you want to look at these any of
31:17
these articles any of these stories you know we’ll have the links below as well
31:21
yep i’m looking forward to talking next week bye yeah great me too see you guys