Weekly Roundup 04/17/26 (BIP361 proposal, SEC's DeFi frontend policy, CSW's Bitcoin movie)

Matt Walsh and Nick Carter are partners at Castle Island Ventures. All of these expressed by them or the guests on this podcast are solely their opinions and do not reflect the opinions of Castle Island Ventures. Guests and host may maintain positions in the assets discussed in this podcast. You should not treat any opinion expressed by anyone on this podcast as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of their personal opinion. This podcast is for informational purposes only. Brought down by Bad Mortgage Investments, Lehman, which has 25,000 employees will be liquidated. The government loans American International Group, AIG, $85 billion. This is a different kind of market and the Fed is a sleep. The federal government is stepping it to stabilize Fannie Mae and Freddie Mac, the two mortgage giants that have been threatened by the housing crisis. The bank of England has pumped 75 billion pounds more to Britain's ailing economy with a new round of culture to do easy. The printed couple trillion dollars and all of a sudden people started to worry. So out of this worry, we have something called a Bitcoin. Welcome to On The Brink. I'm Matt Walsh and I'm Nick Carter. What was your week? It's good. There's a kind of a scandal developing in Miami. Have I told you about the signature bridge project here? Oh, is that the big bridge on your way to the airport? Yeah, it's a different self-page. Yeah, leaving the beach going to the airport. There's like five or six huge arches. There's like a multi-billion dollar project. It was meant to be done years ago. Now it's been extended to 2029, huge boom doggle, colossal boom doggle. And the bridges are cracking, the concrete isn't good. It's like everyone hates it, right? And then, so we're all wondering why there's traffic in the heart of downtown forever because of these bridges. And at the same time, they built an entire stadium for the World Cup in under a year. Did they really? Yep. Right near the airport, actually. And that's the new intermiami stadium. From it was a golf course and now it's a stadium, one year past. Wow. And then, it was founded? Yeah, with some help from the state. So here's the puzzle, Matt. If they can build a whole stadium in one year, why is it taking them 10 years to build the bridge? Yeah, I don't get that. Now we're asking, we're starting to ask some serious questions. It's like the bridges from down the Cape. You know, some of those bridges were built in like the 1940s in two years. And they would take 10 years to build today. Right. And the Golden Cape Bridge was built very quickly. I think the Empire State building was built under a year. But so the contrast is what's causing us to really wonder, why is this bridge taking so long? There's, I think, this corruption. Yeah. That's top of mind for me. All right. That's good. Well, you've been busy. You just put out another post about quantum. I haven't even read it. So it's called How to Resolve the Matter of Satoshi Coins Without a Freeze. What did you get into there? Yeah. So yeah, I know what people really wanted from me was another blog on the quantum. So well, there's a big debate now. And I don't know why, why are we debating this toshikwins now specifically? Well, we got to argue all the time. I think that's the thing. Well, we like to fight. Sure. But yeah, for some reason, now everybody's fighting over what we're going to do about this toshikwins. Everyone's kind of, I think most people have made their peace with the fact that yes, we're going to do the quantum upgrade. There's a conference happening right now. I think actually at MIT or Harvard about it. So it seems like a consensus has emerged. But the thing we don't have consensus on is what are we going to do with these 1.7 million coins that we think are abandoned and are quantum vulnerable that cannot upgrade? It's very tricky. There's actually no good outcome because either you let some random entity claim 1.7 million Bitcoin, and we don't know who that is, could be disastrous, could be the end of Bitcoin, or you change the core principle of Bitcoin, which is the monetary policy. That's also kind of unacceptable. So it's a very tough situation, and I propose a third way. Oh, all right. What is it? I can't make this happen. So it's completely wishful thinking, but this is my proposal that I need other people to do this for me. I can't do it. The government saves us. It's not a very Bitcoin. Oh, yeah. That's just like what we always thought of when, yeah, really does a Bitcoin. So only the US government can save Bitcoin. They have to appoint a court appointed, a solver, someone who does a salvage, and kind of like salvaging a shipwreck. And so this firm would get exclusive rights to salvage the Bitcoins or consortium firms. They would get a funder's fee, but not ownership. The coins themselves would go into a trust that is claimable by Satoshi or others if they prove, believe it or not, that they mind the coins. It'd be hard to do. You couldn't prove it. Well, you, I mean, forensic. You could maybe prove it. I don't know. Well, having the signature ability put in a post-content world doesn't prove it. It doesn't anymore. So we have to fall back on conventional methods. Well, maybe you could. Maybe if it had enough of a paper trail, you know, you'd blop top you might it on whatever. It could be the case. You could prove it. But if no one proves, then the coins get this word that I don't know how to pronounce. It's cheated. They got it cheated back to the state. The state. So then we're in a pickle and worth the women's and my thought experiment because there's no state like Maryland, not nation state. There's no state that the big coins were mined in necessarily. We don't know. They could have mined in Belgium. Yeah, for sure. So that's where I run out of room on this analogy. But I, you know, I think maybe the government could take them or something. All right. I mean, not to be pejorative, but I think that's a little half big because what if some Chinese lab gets the coins? Well, yeah. I mean, this whole thing is contingent on a US firm getting it first. Yeah. China's plowing money into their quantum industry. What makes you think that the US will get there first? Well, I don't know. I'm a patriot, you know, I believe in this country. Well, I hope the US gets there first, too, but I don't think we should assume it. I thought you were going to go down a different rabbit hole, the Taylor mission rabbit hole, where you don't change the name. Yeah, that one's also good. You know, freeze the coins. They're out of circulation, but just put them back into the, you know, they can be mined over the next 100 years. Yeah, I proposed this in 2019 and I talked it on my tea and people went ballistic. Yeah. Did Peter Todd talk about Taylor mission at some point? Yeah, I think he did. I don't think a lot of people put the whole thing together, wherever you'd use the old coins and recycled them, but this was back in the battle days when I wasn't sort of used to being canceled and I didn't like it at the time. Oh, yeah, that was your first cancellation. That was the first one. And so I left that idea on the drawing board. You should have just re-incorporated it, just recycled it. There's a lot of Bitcoiners that just came on board past couple of years. That would have been the first time there to herd of it. Yeah, so now that I'm, I'm tough on and I can't be canceled anymore, that maybe we can bring it back. Yeah, I think just freeze those coins, put them back in. I'm surprised at how controversial this is. I guess we'll get into maybe just skip to one of these news stories. So, Bip 361. Did Jameson Loper at this one? Yeah, he's involved. So it's a plan on how to handle quantum vulnerable addresses, basically, Satoshi's coins. It says, basically that they would get frozen if they don't migrate to quantum safe addresses. And is it, they get frozen for five years in my understanding that, right? Yeah, it's kind of staged, I guess. So Bip 361 gets activated for three years. You can spend from legacy scripts, as well we have now, or a new post-colonim's script against created, then that phase is sunset. So after three years, or after two years, then the nodes reject legacy scripts. And so that effectively freezes vulnerable coins or old coins. So maybe that's why people are fighting about this because Bip 361 just got it, became an official Bip. Yeah, I saw Jameson tweeted, he doesn't, he proposed it, but he doesn't like it, but he doesn't like the else turned to Dave even more. So I get it. I think we had to start talking about this. I mean, as I've said before, I don't think it's going to be like the block size war, where it's kind of like the idealists on one side and the corporates on the other side to really reduce it. Yeah. The corporates sort of wanted to expand the block size, and then the idealist kind of one. Here it's not going to be like that because the corporates are so much more important. Yeah, today. Yeah, it's just a much bigger market. No major Wall Street institution was involved with Bitcoin in 2015 and 2017. I don't know. So for the same me. So now they need to get involved. They have clients. They have legal exposure. What are they going to do? You'll definitely have a fork situation here where there will be a market that emerges. Have we looked at what happens in an ETF if there's a fork? Yeah, they all have language around choosing the chain basically. So they pick one. They'll pick one. Yeah, I mean, they can't just have two. That's crazy. No. And my guess is there will not be like a air drop or dividend payment, but there'll be a rush of capital to entities that will do the chain split for you. similar way to Bitcoin Cash. If you had your funds on Crackin you immediately got the div. right so the ETFs they probably won't give you they won't sell off either coins and give it to clients they'll just that'll be their own balance sheet the sold off losing fork yeah it's a good question if they sell it they would give it to the to the customers out imagine but there's probably a world where they just don't claim it yeah because I think if I'm in big asset manager I'm just rejecting a fork out of hand that doesn't freeze the coins because I think so it's too risky so I think they'll actually just act like it doesn't exist that's what I think and then the exchanges will be more ecumenical and they'll be like yeah you can have whichever one you want well they just want the trading volume right yeah so they actually kind of benefit from wish I could go back in time and capture all of the conversations that I had around the Bitcoin cash fork and all of the people that I respect that were telling me that that was gonna be the winner and just how long that was I yeah yeah yeah I mean but see here's the problem it says everybody is now gonna look at that case study and think that it'll go the same way right but I don't think it will I don't think it will either but you will have a lot of purists that say look this is theft we can't do it yeah but here is my challenge to that the purists if you were a purist you should be dissolution by now because Bitcoin does have these big corporate influences and my strategy is getting on their way to a million coins and the government has a Bitcoin reserve and these people kind of cheered for that so I don't I think Bitcoin has selected for people that are actually not purists anymore I guess it's selected for mostly capitalists at this point yeah I think so and so I think even the hard-gridey logs you know they're gonna be sitting at the kitchen table and their wife's gonna be like so our retirements in Bitcoin right it's like yeah okay so which side of this you want you're on the side where our retirement goes to zero yeah instantly no no matter how committed they are they're still investors in Bitcoin so now I'm gonna pick the fork where Bitcoin goes to zero and maintains its I intact principles I agree and that's why I think we should burn the coins I I like my solution we don't even have to burn them the government waves a magic wand and solves it for us I don't know government intervention I mean being favor of burning or being favor of tail emission but tail emission is that's a thorough grail I mean it's actually should be that if I could actually pick one it's we fixed the the long-term revenue problem it least fix it for 100 years yeah and that's someone else's problem right let's hop into the deals of the week first one up is Paxos lab so this is an enterprise that's started as a spin-off of Paxos they're focused on defy infrastructure there is $12 million from blockchain capital robot ventures maelstrom and uniswap labs next up we have Spector that's with a K they're an AI powered financial compliance company there is 20 million from NEA North zone and others Nava labs not to be confused with Nava ventures one of one of the funds that we like to collaborate with Nava labs is a policy platform for agentic payments they raised $8 million from polychain archetype hack VC and felcon X Kraken is a crypto exchange we all know them they raise 200 million in secondary from Deutsche Bank resulting in a 1.5 percent stake in the company the Kosohe origin city confirmed that they have confidentially filed for an IPO for the second time right paradox right to publicly confirm that you have a confidential filing it's a yeah we've we've said this before it keeps on happening next one up is pump K the meme coin trading platform there is $5 million from jump and foundation capital meme coin trading platforms are still a thing huh I'm shocked to see that in 2026 lastly E Toro has entered into an agreement to acquire Zengo the self custodial wallet provider been fans of those guys for a long time so it's nice to see them sell the business it's a good product right it was social it is yeah it's a very good product they're the one of the first ones to do social recovery well yeah I think that's an interesting play especially given what the SEC did this week and I doubt that that was part of the thesis but the SEC came out with new guidance this week specifying the D5 front end such as Uniswap that expose users to tokenize securities they don't necessarily need to register as broker dealers as long as they don't monetize the order flow or offer investment advice or take custody of user funds so this would apply to wallet front ends like a Zengo as well as Uniswap I think that's quite interesting and that is not the view that the Gensler SEC had yeah this is the most actually I think it's an essential SEC policy I've ever seen yes and we achieved it without clarity we did good things are possible without legislation we're getting we're getting kind of common sense things that we thought we had it we thought we had to have a bill for just via SEC guidance now of course this guidance could be rolled back that would be kind of a debacle but it would probably hard to do if you have a lot of tokenized securities on chain and this is the way people engage with them the fact you can't monetize the order flow might be a little bit problematic for some of these wallets that make money based on routing yeah that's right but really encouraging stuff I mean congrats to the SEC it's super cool yeah yeah big fan of that in other news goldman has filed for their first Bitcoin ETF it's called Bitcoin premium income ETF it's going to invest in other Bitcoin related ETFs and option related strategies so I guess it I guess this would endeavor to kind of beat the price of Bitcoin is that right pretty cool so just in the last two weeks really we've had more insanely and now Goldman enter the Bitcoin ETF arena world Liberty Financial is experiencing some kind of indescribable quagmire have you seen this yeah is it okay if I just choose not to keep up with this story yeah you're that's allowed yeah I've been following it so so governance proposal investing schedules Justin Sun's involved there's just a confluence of things that I don't really care that much about so what I think happened was Justin Sun when they put his wallets in like some kind of special investing category that was distinct from the others I don't know why I think there was some allegation that he was like selling early so they basically froze his coins now they're reimposing a new vesting it's a two-year cliff and another two years linear and they're kind of forcibly opting every buyer of world-living into this so it's actually not unusual we see this often in DeFi kind of like forcible vesting changes but I mean it's a little confiscatory probably aren't allowed to just arbitrarily change the vesting yeah that seems like a centralized move right yeah and just you know not allowed to do that in regular markets you know you have to kind of you have a deal with someone you sort of have to adhere to the deal so they put Justin Sun's coins in purgatory until he opts into this new vest yeah he's not he's not happy about that and he's unhappy yeah but I mean he kind of deserves it for buying the token so yeah all right well I guess we will continue to put blurbs about this in our newsletter but I will continue to not really spend any time trying to figure out what's going on there did you see we had the death of a dad this week ether machine which is a proposed debt focused on Ethereum they had announced in July 2025 that they were going to launch with four hundred thousand dollars worth four hundred thousand units of each in their treasury they have scrapped their plans to go public via spec citing unfavorable market conditions yeah I think we'll see a lot more of these what do you make of the block stream one C-Po canner and block streamer doing that one what is that like a Bitcoin income related thing it's like it's Bitcoin debt right or is there is there another twist I thought that they were going to be selling options or something generating yield on the Bitcoin or something I don't know what why do we need another Bitcoin debt yeah I mean it's because I wonder if it won't be a little bit void because of the Adam back of Satoshi allegations yeah I mean it's good marketing right by our debt we were denying that this is Satoshi but John Kerry was pretty certain it is yeah and we're kind of like winking while we deny it and crossing our fingers at the same time there is a new Satoshi candidate on the block or a documentary rather this is the one the coin based back to that yeah finding Satoshi dot com I've seen it I'm not affiliated with them but they sent me a screener so I've seen it are you gonna blow the lid on it or you're gonna wait till the premier for us to know I'll let them tell you who they think it is but it's actually the best one I've seen really so you think it's credible there's no smoking gun per se I don't think we'll ever get one we'll just get more and more circumstandional evidence I yeah I think I like these attempts to look into the linguistics I'll give a shout out to Matthew Limerl who's been a frequent guest of our podcast but he's he's throwing the the language into AI models and coming out with a solution. Yeah, what's the trick it's to look at Satoshi's emails to Marty Melmey? I think that's right. Is it Marty or Maddie? Yeah, yeah, finish you guy. Yeah, Matthew actually wrote a book about it called The Ministry of Bitcoin. It's a novel that worth checking out. So it's like the golden age of Satoshi theories because there is a Hollywood movie coming out. Are you talking about the Craig Wright one? Yeah, I mean this is the most baffling thing I've ever seen because there is serious a-listers in this movie but it appears to be in support of Craig Wright's ambitions. That was nice of you to call Casey Affleck, Pride of Boston the day a lister. Normally I wouldn't have thought about him like that. Casey starred in a very good film called Man Shuster by the Sea. And Ghan Baby Ghan. And Good Will Hunting. Oh, I didn't know who's in Good Will Hunting too. He was Ben Affleck's little brother in Good Will Hunting. Yeah, I didn't watch it very carefully. At Chuck Eier to double burger. So he is at least a b-lister. We'll give him that. And then Gal Gadot is in this isle of Fisher. Pete Davidson is in this movie. He's not a nalister. I mean this is a b-list movie. Pete Davidson is an a-lister now. Is you really? I don't know. He's saturday night live. What's he ever not? Gal Gadot is an a-lister. I don't even know who that is. She was super woman. That doesn't make you the a-list. She's big. So Pete Davidson plays Calvin Eier. That's a casting atrocity. It don't look anything alike. And Casey Affleck plays Craig Wright also. I don't like that they're making these kind of dumpy looking scam artists like, look good. Doesn't seem right to me. What is the premise of this movie? They cannot possibly be saying that Craig Wright is Satoshi. Right? This just has to be about a scammer who got to run a scam, right? Yeah, I mean. So the synopsis, this is the synopsis. Bitcoin is just called Bitcoin. Is the true story of one man's quest to prove that he is in fact the creator of Bitcoin. A claim that puts his life in parrots sets off a global fire storm. And a wild high stakes race between the who's who have tech billionaires and world leaders with a fate of the entire world's entire financial system hanging in the balance. All leading to one question, why do the world's most powerful people want to erase one man? And why would they spend hundreds of millions of dollars to do it? That's unbelievable. So this is in the tank for Craig Wright. I mean, I will watch this because Casey Affleck's in it, but I'm not going to enjoy it. Craig Wright is the one man on Earth who has been officially designated as not Satoshi by a court of law. He's actually the only person on planet Earth who's definitely not Satoshi. So they're barking up the wrong tree here, but I actually like some of these actors. So I might watch. I'm not going to pay to watch it. When does this come out? It's coming out in at Cannes Film Festival. Do you think that's going to get a standing ovation at Cannes? That's a dangerous place to go. Being Bitcoin related in the country of France. That's tough. That's right. So it's coming out in Cannes. My guess is not going to do well with the critics. Yeah, probably not. Probably not. All right. Well, we got that coming out. There's the Netflix FTX thing is coming out soon. There's a bunch of crypto stuff coming out that probably won't make our industry look great. Yeah, and also some really troubling casting decisions with the Netflix show. Oh, yeah. I mean, they're just, I don't remember the exact who's who, but the actors they picked to play the FTX effective, ultra-fueled members. They're too good looking. Yeah, they're all way too good looking. Yeah. Yeah, I mean, this isn't right at all. We don't hear much about the kind of the FTX crew that only had one year in jail. Wonder what everyone's up to. Because they're out. Some of them are out. I wonder what they're down. Yeah, I mean, they've presumably been banned from securities markets, right? Yes. For at least 10 years, I think. They're probably vibe coding, don't you think? Yeah, probably vibe coding, probably playing on some prediction markets via VPNs, that type of stuff. Do you know who the most successful FTX alone is? Yes. Situational awareness. Yeah, Leo. Leo Ashbrenner. He might be from a different planet. I mean, I figured out why he's so good at trading stocks. Because he just has the latest models before we do. Almost. It's not that he's a time traveling, Hapsburgian vampire from the 1600s, so I did think it was that his fiance is the chief of staff at Anthropic. Oh, I didn't know that. Yeah. So do you think she just has, she has meathos? She uses the best models, first of all, so that's very unfair. Second of all, he knows who Anthropic is buying compute from. Oh, wow. Yeah. So why is his trades are incredible? He took this fund from 500 million to over 5 billion in a year and a half. Yes. This is one of the most impressive funds that no one has really ever heard of in the mainstream. Well, and people pant him. What do you remember when it came out? It's like this kid's 23 year old doesn't know anything about finance. He's gonna raise a fund. He's gonna just go max long AI. Everyone made fun of him. Yeah. And then he just proceeded to out trade every other hedge fund on the planet. Yeah, completely seamlessly. I mean, even during the big drawdown in these AI stocks, and he's had still every quarter, it's a new incredible trade every quarter. There's something new. Yeah, what did he just hit big on blue energy or something like that? Yeah, it's his literal biggest position. This quarter disclosed in the 13F. I took notice, I don't like wow. Okay, what does he know? And then it just skyrockets a couple of weeks ago. Unbelievable. Yeah, you're right. He's probably the most successful FTX alum. He was on the charitable side of FTX, right? They had a charity. Yeah. The other good trade he had was Corvieve was his second biggest position, I think. Plus call options. They just signed a huge deal, then, Thropic. Oh wow. A week ago. So, I'm not making allegations. Actually, you like the kid a lot, but I think that's the secret sauce. Well, yeah, that's an interesting data point, but good for him for just coming out of the gates hot. I mean, just unbelievable. All right, what else happened this week? Charles Schwab has announced that they will be rolling out direct exposure to Bitcoin and Ethereum. So, spot exposure in the coming weeks. Yeah, I guess you could think about this as just kind of copying what Fidelity did. Obviously Robin Hood's done this. Coinbase is the line share of retail flows, I think, still in the US. But good for Schwab. It has taken them forever to do anything. They've been talking about this for like five years. Yeah, good for them though. So, they're actually going to do base layer Bitcoin, like you're able to withdraw it. Yeah, they had put out an RFP to kind of handle the back end trading in custody like five years ago. I don't know who they ultimately went with. It's probably disclosed in their filings. Yeah, this is kind of table stakes, I think, if you're a retail brokerage. So, Tether, this is interesting. Tether announced a strategic investment of up to 150 million into drift protocols. This is the DeFi protocol that was hacked. We think by North Korea last week. So, quite interesting to see them double down, support it, provides some fresh cash. I wonder if they'll release a recovery rights token or token that entitles users to future revenue cash flows. Because Tether or Bitfinex, relatedly, is actually, they have done this successfully. Yeah, of course. Yeah. They had the Leo token, then you had the other one. What was that called? You had RRP, I think, recovery rights, which was Bitfinex anything excess that was recovered, and then you had the original BFX token, which was. So, they've actually done this playbook three times, each time successfully. Yeah, they know how to do it. I thought this was pretty opportunistic, and it's obviously that Circle has said that they will not freeze USDC until they get a court order. And Tether has been way more willing to freeze Tether in the event of hacks and things like that. So, you know, part of this might just be a good PR for Tether. Yeah, actually, we should talk about that, because you're right. Circle has this no freeze unless a judge says freeze. Policy? That's, I understand why they do that. They don't want people constantly knocking on their door saying freeze the coins. At the same time, this is now caused USDC to be the chosen currency of choice for hackers. Yeah. So, that's not a good situation to be in. Also, they could have intercepted these funds. And I get why they don't do it, but look, if North Korea does a big hack, and everyone knows it's North Korea, you got to freeze those coins, even if you don't have a court order. You got to freeze those coins. You don't even have to know who the hacker is to know, obviously, was hacked. I don't like it. I don't like it. Here's what I think we need. We need a chance to record of blockchains. Interesting. So, why is Delaware the go-to state, or at least used to be, for business disputes? Because they've specialized courts that are fast for corporate disputes, right? Yep. What about a court that is digital? that's on chain. I don't hate it. It's kind of like a UMA protocol is for polymarket. Clare is core to Eragon. So this should be something that Circle would voluntarily submit to. This court agrees to monitor the blockchain 24/7. It's not a real court. It doesn't have jurisdiction anywhere. And it makes pretty snap decisions. Yeah, you should probably freeze these ones. Yeah, I like the idea. I think that that could work. I'm sure the legal departments at the stablecoin issuers would not like it, but honestly it's just good policy to freeze these addresses if North Korea gets them. Yeah, I don't like the current policy. I don't I get it, but I don't like it. Senator Elizabeth Warren sent a letter to Elon Musk this week raising concerns about the upcoming launch of X money, which is rumored to have some crypto rails embedded in it. So Warren has accused must of weakening consumer protections. There is capacities that doge blah blah blah blah blah blah blah blah. She doesn't like it when new financial services players come up. Yeah, I mean she just seems opposed to the notion of finance in general. Well opposed to it unless it's the banks doing it where she sits on the Senate Banking Committee and can rough them up. Yeah, so this is a prime target of course. There was an interesting paper published this week from Avi who levy of Starquare called Quantum Safe Bitcoin transactions without softworks. Does this solve quantum for Bitcoin? No, to be very clear. It is cool and I appreciate the effort, but this is a very complex protocol that puts a lot large burden on the user to kind of encumber their coins quantumly. What we need is a protocol wide solution. So in case you're wondering about this paper. Yeah, this would be you'd have to have a bunch of compute locally to do this, right? Yeah, and it's unaccomical for smaller addresses. So, but it was a cool sort of case study or thought experiment. It was has launched a new ETF. It's a spot avalanche. Avax ETF, it has staking included. So check that out. It was just continuing to innovate. And then I really like this hyper liquid piece by Colossus this week. Do you get Colossus yet? No, I don't know Colossus. Colossus is Patrick O'Shanes' magazine and podcast network. And they put out a really nice, I think it comes out every quarter. It's like a bound book almost. It's really quite good. But this piece was written by Dom Cook and it's a full profile of Jeffrey Yann, the founder of Hyper Liquid. What an incredible story this guy had. Yeah, I mean it seems like he was grinding like no other. At one point the piece they say he worked 14 hours a day when he was building it, clocking a hundred hours a week. His fiance was living with him in Puerto Rico, but for the first year she was only a lot at 30 minutes of his attention per day. There are many are belong to the trading algorithms. It's a man in the arena. Yeah, it's free to look at online. So I would definitely check it out. It's a good weekend read. Probably built one of the most consequential pieces of infrastructure in all of crypto. Yeah, I mean now it's going beyond crypto. People are trading oil on their code. I mean it's becoming a market of consequence in commodities too. Never raised any venture for it either. Never raised a dime of venture capital. But most crypto funds own the token now. Yeah, everyone just kind of bought it on the open market, but it does have that benefit of being kind of pure from the outset. Yeah, I mean the air drop created a great number of millionaires. Yeah, 100%. Maybe more than any other air drop. Yeah, I think that's right. Alright, so you know, we just cut it solid two to three minutes of content that I think we'll just this is why we don't do this live. So some things are better left on the side for the sake of the industry. There's a lot of scandals out there that we will just kind of sit those out for now. We see the truth but we close to eyes. There's stuff happening that's outside the purview of maybe what we want on the record. Yeah, this is serious podcast and we talk about deals and news and we don't do gossip. So we don't do that. Alright everyone that is it for the week. Everybody have a safe and healthy weekend and we will see you on Monday.