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Unchained

Bits + Bips: Iggy Azalea, $MOTHER, and Celeb Coins: Is This the Top of the Crypto Cycle? - Ep. 662

Unchained

Laura Shin

News, Tech News, Business News

4.51.3K Ratings

🗓️ 19 June 2024

⏱️ 70 minutes

🧾️ Download transcript

Summary

A few weeks after its launch, Iggy Azalea's MOTHER memecoin is still in the spotlight. Host Joe McCann, who recently had dinner with her in New York, gives the inside scoop on how Iggy’s $MOTHER came to be, plus her plans. Also, Joe says Iggy is so bullish on Solana because it’s fast and cheap… but James Seyffart counters… nothing can be fast, cheap, and good. Except ETFs. Guests Phil Bonello and Kelly Greer delve into the role of venture capital in crypto, and more particularly into dynamics between liquid hedge funds and massive token generation events. And James tells a mind-blowing story about how one ETF and obscure SEC rules could cause whiplash to the prices of Apple and Nvidia stock over the next few months. Plus, after SEC head enforcer David Hirsch resigned from the SEC this week, everyone gave their takes on why. Is Hirsch going to BlackRock, or was he scared about a potential lawsuit? Show highlights: 00:51 The real story behind Iggy Azalea's MOTHER memecoin and the controversy between Joe and Haseeb Qureshi 07:26 Why Iggy is bullish on Solana, and whether MOTHER is a hopeful case for crypto, reflecting the evolving relationship between entertainment and Web3 12:35 Whether the market has already topped, given the involvement of celebrities in the industry 15:32 Whether VCs are extractive to the overall space, and how liquid funds and token unlocks impact the performance of assets 21:17 Why venture funds and hedge funds have different approaches to liquid crypto investments, and how memecoins are changing the game for allocators 33:18 Why there’s a 0% chance that SOL gets an ETF this year 34:19 What the recent macro trends point to, whether inflation going down is sustainable, and whether rate cuts are coming 43:32 Why Nvidia's rapid growth is about to trigger a multi-billion dollar rebalance in tech ETFs, and how both $NVDA’s and $AAPL’s stock prices might soon seesaw 54:35 The theories about why the SEC’s chief crypto enforcer David Hirsch resigned from the agency (hint: it might have to do with the election) 59:52 Why James believes Ethereum ETFs will launch on July 2 and what amount of inflows the ETH ETFs might garner, esp. considering potential ETHE outflows Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Joe McCann, Founder, CEO, and CIO of Asymmetric Guests: Kelly Greer, Vice President of Trading at Galaxy Philip Bonello, Founding Partner at Plaintext Capital Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Literally today one of my teammates at Asymmetric asked me is this top signal.

0:06.2

I'm like zoom way out.

0:08.9

Hi everyone welcome to bits and bips exploring how crypto and macro collide one basis point at a time.

0:14.0

I'm your host James Safer, TradFi Archmaister, Lord of Bloomberg's End.

0:19.2

We're missing Alex Krueger this week because he had a flight get cancelled and couldn't figure out a way to actually

0:25.6

join us today, but we have two guests.

0:29.0

Also joining me obviously is Joe McCann, Lord Commander of Asymmetric and Master of Bump.

0:33.3

And then joining this week is Phil Bonello, High Stewart of Plaintext,

0:36.8

and Kelly Greer, Lady Greer of Galaxy.

0:39.7

We're here to discuss the latest stories

0:41.1

in the worlds of crypto and macro news.

0:43.0

Just remember that nothing we say here is investment advice.

0:45.8

You can check unchained crypto.com slash bits and bips for more disclosures.

0:50.0

Yeah, so let's dive into this.

0:51.5

First, we're gonna start with something with our more seasoned

0:55.1

seasoned, unchained podcast counterparts over at the shopping block talking a lot about what was going on with

1:02.4

Iggy and

1:03.0

Culep coins and and all these mean coins and things and Joe Joe and Steve

1:08.0

gotten a little bit of a battle on Twitter so I'm just gonna pass this over to

1:11.4

Joe why don't you lay the groundwork of like what we're talking about here and like what your biggest issue with the way it was being discussed and then we can get into our own opinions because I have no once takes here. I think I differ from you in your view of the space.

1:26.5

Good. Yeah, look so so like last week you know the guys at the shopping block had a discussion around

1:35.6

celeb coins and Iggy and I kind of took offense to it I guess a friend of mine and

...

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