Crypto Falls Ahead of FOMC, FOMO App Hits All Time Highs, FWA Interview with Rhynotic

[upbeat music] Who is the man? Macro daddy of the land.

Mando.

Can you dig it?

Yeah, GM.

So we did have kind of from yesterday afternoon, like, a big dump.

There was a piece out by Citadel, I think, which said that they thought there was gonna be a surprise rate hike.

People are a little bit unsure about this Fed chair, so it kind of spooked markets.

And then there was, like, a memory breakthrough in China, um, and that caused all the memory stocks to get absolutely decimated, which kinda took down most of Asia because of kind of cross selling I think.

So just a bad day.

If you kind of...

Sandisk, I think, was down and all the memory stocks, SK Hynix, were all down, like, 10, 15%.

Um, and then that dragged down, like, all of equities really.

There's not really one...

The only thing higher on the day is Eli Lilly.

[laughs] Um, everything else got absolutely decimated.

And there were some cra- I don't know if you saw, but, like, we had...

There was a little bit of a 10.10 moment for memory in, in crypto.

Um-

Mm

...

some very low liquidations on trade to XYZ.

Yeah.

Uh, I was, I watched it live and I was like, "Whoa, that doesn't look right." Um, and yeah, I think that's part of the reason why maybe I caught some bad press today because it, it wasn't really maybe a great experience, but it's holding up actually okay now actually.

Um, anyway, I, I've been buying some crypto on the open.

We, it, we had, like, an instant dump on the open just then, and, um, I think it's a good time to, to buy.