Crypto’s Speculation Problem, Regulation Without CLARITY & The Gambling Economy

There's, um, there's Santi who got called out on Twitter by, um, Lorenzo at Ark, so we should talk about off-chain versus on-chain value accrual.

Yeah.

But maybe we can start with, has the market found a bottom? There are a lot of signs that point to the market finding a bottom.

[laughs] You guys are just perpetually optimistic.

I think-

What market and what bottom? [laughs]

I believe we have found a bottom.

He means memory stocks.

I, I'm, I'm looking at memory ripping 15% today, so you know, we, we bounced hard off the bottom in, in semis, and I mean, the market, S&P's at all-time high.

Nasdaq's ripping.

Semiconductor's back on the menu, you know.

The guac is back on the menu, ladies and gentlemen.

Chipotle is getting a hit.

But yeah.

Let me show you guys, let me show you guys two data points here.

So, you know, Blockworks actually has a lot of data on-- I feel like we should create our own, like, fear and greed index.

Check this out.

So first is, this is the number of sales calls that we've had.

So we have had more sales calls this week on the calendar than any week in the past six months.

And inbound leads, which have historically been a leading indicator of how the market is feeling, right? Because if customers are optimistic, they come inbound, they wanna buy things.

If they're feeling pessimistic, less inbound leads.

We have-- Our inbound leads have increased six weeks in a row.

Well, do, do you wanna picture the volume?

Well, what are people, or what are you hearing from people? Like, what are they trying to buy? What are they most excited about?

Um, the number one source of inbounds right now would be traditional financial, um, finan- like fin- basically fintechs and financial institutions and traditional brokerages, which are now starting to do things with crypto.