All right, everybody. Happy Thanksgiving. I hope you guys are having an awesome holiday week.

A lot to be grateful for this year. And I'm particularly grateful for two of our lead analysts here,

Matt and Brendan, who have made our lives so much better this year. Now that they're on the team,

helping us with our research, our writings, our preparation.

So we decided, wait, why don't we bring these guys on the podcast today and have a little chat?

So we decided to record a little roundtable with Matt and Brendan, pizza mine, myself, our producer

TiVo, who's getting some, super producer, TiVo, getting some reps in, getting his work around.

But yeah, we're excited for you guys to check this one out. So happy Thanksgiving. So I think Brendan had kind of an interesting question last week that I wanted to talk about.

Brandon, go ahead.

Yeah, I mean, how much time do you think that FTX, Alameda, and Sam Bankman-Fried added to this bear market?

Like, how much longer do you guys think that this bear market is going to be now that the entire FTX implosion happened?

Actually, I think this was right on time.

As I've been traveling around the world, events are still sold out beyond capacity. And bear markets are basically marked by capitulation events. We need people to get forced out of their positions. And everyone believes in the future of crypto so much. No one was selling, even as prices were

collapsing. So now I think with FTX, basically they're going to have to force sell all their

assets and the contagion, then now that's spreading over to DCG and potentially gray scale and

who knows who else, a Genesis, who knows who else is going to get forced out of their

positions, that to me is that last leg down that we're experiencing today that is necessary

for a bottom to form in a bare market. So I think it's right on time. Yeah, and they say that

trends are built on dead bodies. And what I see here with the explosion, I see a bomb just went off, right? FTX blowing up is the equivalent of, you know, a market nuke going off. So I think that your question of how much longer is this going to make the bear market is wrong. I think it's how much quicker does this make the bare market?

I think that this was a ticking time bomb that was going to go off eventually.

And the fact that it is out and all the leverage is getting expunged is making this whole bare market process go that much quicker.

So I'm actually of the belief that this is a good thing,

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