Episode 1140 of Bitcoin And . . . is LIVE!
Topics for today:
nostr: https://primal.net/BenJustman
Twitter: https://x.com/BenJustman
Website: https://www.peonylanewine.com/bitcoin
Naked Wine, Elevated.
No additives. No compromises. Just cold-hardy grapes turned into Colorado-crafted magic.
Estate grown. Pleb poured.
https://decrypt.co/333550/uk-police-force-gets-665k-bitcoin-windfall-from-seizures
https://cointelegraph.com/news/hester-peirce-defends-crypto-privacy-tornado-cash-trial
https://www.theblock.co/post/365645/mei-pharma-litecoin-treasury-strategy-charlie-lee-gsr
https://decrypt.co/333580/ethereum-treasury-sharplink-adds-265m-eth
https://cointelegraph.com/news/clanker-ai-memecoin-fees-355k-tokens
Topics for today:
- Executive order on debanking
- UK Bitcoin seizure precedent
- Tornado Cash trial privacy
- MEI Pharma Lulz-coin treasury
Circle P:
Peony Lanenostr: https://primal.net/BenJustman
Twitter: https://x.com/BenJustman
Website: https://www.peonylanewine.com/bitcoin
Naked Wine, Elevated.
No additives. No compromises. Just cold-hardy grapes turned into Colorado-crafted magic.
Estate grown. Pleb poured.
Today's Articles:
https://www.coindesk.com/policy/2025/08/05/new-white-house-order-could-punish-banks-for-dropping-customers-over-beliefshttps://decrypt.co/333550/uk-police-force-gets-665k-bitcoin-windfall-from-seizures
https://cointelegraph.com/news/hester-peirce-defends-crypto-privacy-tornado-cash-trial
https://www.theblock.co/post/365645/mei-pharma-litecoin-treasury-strategy-charlie-lee-gsr
https://decrypt.co/333580/ethereum-treasury-sharplink-adds-265m-eth
https://cointelegraph.com/news/clanker-ai-memecoin-fees-355k-tokens
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[00:00:02]
David Bennett:
It is 07:57AM Pacific Daylight Time. It is the August 2025 and this is episode eleven forty of Bitcoin and we're going to talk about this this executive order that may or may not come out from the president's desk about debanking. We're also going to touch a little bit on the United Kingdom Police Force seizing Bitcoin and getting a windfall from it after returning part of the Bitcoin. Anyway, this is Bitcoin and it's all the news you can use. I'm your host David Bennett and we're just gonna dive right into the first stories of the day. Let's just do the White House one. New White House order could punish banks. Yep. Yeah. Oh my God. They're gonna punish the banks for dropping customers over beliefs.
It's already problematic. What what is a belief? This may just be bad word choice by these stories author, which is Francisco Rodriguez out of CoinDesk, but we'll we'll we'll see. Yeah. We'll we'll see because this is gets really sticky when you start getting into the weeds of something like this. Okay. So the White House is preparing an executive order that would penalize penalize banks for cutting off customers over their beliefs. The order reported on by The Wall Street Journal is expected to be signed by president Donald j Donald Donald Donald j Trump as early as this week.
It would direct banking regulators to investigate whether financial firms violated the Equal Credit Opportunity Act or other consumer protection laws when closing accounts. Oh, so there's some there's some legal backing behind this with the equal credit opportunity act. Interesting. While the order could still be altered, it would bring further stability to the crypto sector. During the Biden administration, a coordinated effort from the federal government other than debanking crypto firms, an effort known as operation choke point two point o.
And the the the draft order does not name specific banks, but it reportedly references an incident involving Bank of America and a Christian nonprofit in Uganda. The bank said it closed the accounts because it does not serve small businesses operating abroad. The initiative is part of a broader push by the Trump administration to stop this debanking. It's a practice of denying financial services for ideological reasons. Banks say their decisions are often driven by concerns about money laundering and regulatory scrutiny and have blamed regulatory pressure for avoiding the crypto industry. The order calls for regulators to refer violations to the attorney general.
The justice department has already taken steps in the order's direction launching in April in April, a task force to investigate claims that banks were denying customers access to credit or financial services based on, quote, impermissible factors, end quote. Banks have been updating their policies and met with the Republican attorney general or attorneys general trying to avoid further conflict, per the report. Still, the the crypto and wider fintech sector may still face banking difficulties. Venture capital firm, Andreessen Horowitz, a k a a sixteen z, has warned that banks are making it more expensive for customers to use these apps in what could be seen as a operation choke point three point o.
It's a full point upgrade y'all. That is a reference to banks that are accepting crypto and fintech business as clients but charging them hefty fees to access account data or move money affecting services like Coinbase or Robinhood and potentially strangling competition. Okay. So what's gonna be defined as a belief? Is it my Christian values? I'm an Episcopalian. You know, I mean, is that that's a that is a belief. I have a belief in God through the lens of the Episcopal church, which is subset of Christianity in general. It's like a branch of the of the Jesus tree. I don't know. I mean, wherever you wanna put it. Is that a belief? I think I think it would be fair to say that most people would say, well, yeah, that's a belief.
Well, what about if I have a gunshot? Do I believe in guns or do I believe in the Second Amendment? Is that a is it a belief or is it just I make money off of selling guns? I don't have to have a belief. Like, for instance, if I had a fucking burrito stand. Right? I I don't believe in burritos. I just wanna make some really good burritos. There's a place in Midland, Texas called Jumb burrito. Best burritos I've ever had. I miss it all the time. I literally still think about those burritos. Specifically, I'm thinking about their red and green sauces as well as their burritos, but, hey, it's it's an entire package. They don't believe in burritos.
Right? What they believe in is making money and the vehicle they've chosen to do it with is selling really tasty burritos. I mean, these things are freaking fabulous, dude. If you're ever in Midland, Texas, you gotta go to Jumbarito man, you just gotta go. Anyway, so what's a belief? Yeah. What how is this executive order going to make sure that what really needs to occur is that people just need to stop getting debanked? Okay. If I'm running money, you know, money through my bank account from selling drugs to school kids, If you can prove it beyond a shadow of a doubt, then and only then, after a court of law, when I've been convicted and found guilty, would those accounts be then frozen, taken away, whatever? Or or if I was in let's I'll give him this. I'm indicted for selling drugs to school kids. Okay?
I have there's such a suspicion, such a a leverage of potential guilt against me in that activity that I've been indicted, okay. Freeze the accounts. But up until that point, honestly, there's no reason for any bank to close anybody at all ever. It just it doesn't make a whole hell of a lot of sense. But these are the sticky things that causes problems later on. If things are not especially in matters of policy, if things are not well defined, if if things are just kind of like amorphous and, you know, up for interpretation at a drop of a hat, then problems occur. And I could definitely see problems occurring with this one. However, I will say this, this shit needs to be something needs to be done. You can't just say, hey. But you know what?
You're you run a little bit too much you're too close to a Cash App and Strike. And because Strike is very Bitcoin heavy and, Cash App is kind of Bitcoin heavy, we're just gonna make the assumption that you're dealing in Bitcoin, and and we don't really wanna do business with you. So they close not only your account, but any accounts associated with you, which would suck, especially for me. Because just because I do something personal doesn't mean that I need to have the other four bank accounts associated with various companies that I'm just part of closed, You know? So I'm I'm glad that they're doing something. I just honestly, it just bugs me that they're not being very upfront about the parameters.
Define the parameters, please. Let's go over to The United Kingdom, and the kingdom is falling down. For more for more reasons than this, but this is this is an instance, the UK police force gets a $665,000 Bitcoin windfall from seizures. Connor Steffton from Decrypt. Crime doesn't pay. Well, maybe it does, the old saying goes. But a police force in Northern England may beg to differ. Lancashire Constabulary has revealed that it's received a $665,000 windfall after seizing Bitcoin from thieves. The case dates back all the way to December 2017 when detectives received reports that money had been stolen. Oh my god.
An investigation later revealed that the funds had been converted into Bitcoin, which had hit $20,000 for the first time in that same month. By the time the wallets holding this ill gotten crypto had been frozen, BTC had risen substantially in value. This meant that the victim could be compensated in full, but British law does not allow them to be overpaid. Once the Bitcoin was liquidated and the victim made whole, Len Kishire Constabulary was left with a $1,300,000 surplus to reckon with. It's now been announced that the police force will receive half of these proceeds in a few months, which will be allocated to a special crime fighting fund. Oh, we gotta go fight some crime. And the other half is, of course, going to be sent to the United Kingdom government because they apparently need it, I guess.
Anyway, according to a statement, this fund had previously been used to purchase drones, invest in spam call blocking devices, and finance community projects designed to clamp down on antisocial behavior. Really? Like ripping kids out of their backyard? Oh, you know what? I'm not even gonna get into that story. If you don't know what I'm talking about if you're if you're not watching what's going on in The UK right now and has been occurring for okay. Let's just call it a couple of years minimum, then you're you're you're missing out on one of the most horrific public endangerment stories I've ever seen.
This is you know, do you know The UK? There's a Australians are being warned by the Australian government not to go to The United Kingdom because it's dangerous. It when Australia is telling you that another country is is dangerous, This is a country that literally the land, the environment, and all the insects and fauna and flora is trying to kill humans. Alright? This is one of the most dangerous continents on the face of the planet, and it's pointing at UK saying, yeah, probably shouldn't go there. That's how bad it is. Anyway, whatever. Clamped down on antisocial behavior, my ass. It's hoped that the investment will help disrupt the cycle of crime and prevent future offenses.
Detective Sergeant David Wainwright from the forces economic crime unit said, quote, this is a great result for the people of Lancashire. And hopefully, the first time or the first of many future uses of this new legislation, you want to steal. You're you're literally hoping to be able to continue theft. Wow. Anyway, quote, it's unusual for the criminal property to rise in value to more than that of its original crime, but this has allowed us to fully compensate the victim with some spare that can be used to reduce crime. Those involved in the theft, all who were from Lancashire had been sentenced for their part of the crime. So you basically stole the profit potential that the original victim could have realized, kept it for yourself, and said that you're you're good Joes because you compensated the victim for the theft.
Even even even though and I'll we'll we'll say this. It was the thieves that actually converted the cash that was stolen into Bitcoin. Okay. So I get that there's a precedent, but this I everything about this is this is just going to engender civil asset forfeiture of what however you wanna call it, Where you can just take the property of the citizenry and in this particular case, recover the property of the citizenry. Tell them that, well, by law, we can't overcompensate you so we can only give you the $20 back but we're keeping the $400 of profit that was made in the meantime.
This is a terrible precedent, and it's going to set up extremely bad incentives for the UK police force. And not only it's not only gonna be just The UK. I mean, come on. This this is gonna be everywhere. We've already seen instances of it, but this is this is a really good flashlight being shown or shined rather. I did it again. I've made up a word. Shined on this kind of behavior. And this kind of behavior, this is honestly, man, this just kind of is going to turn into straight up racketeering. Mark my words, racketeering. You might wanna get yourself a drink when that shit happens. And you can do so from peonylainewine.com.
That's peonylainewine.com. Circle p is open for business. It's where I bring plebs with goods and services for sale to plebs just like you that want to buy those said good and services. And if you want wine, if you want some really good red wine anyway, and he's got I think he's got a white too. Yes. He does. He he he does have a Sauvignon Blanc. Go to peonylanewine.com. Ben Jessman is the vendor over there. He's he's the owner of the whole operation, in fact. He takes care of the soil. He grows the grapes. He crushes the grapes. He brew he makes the wine. He ages the wine, and then he happily sells it for Bitcoin. Because if you're not selling your goods and services in Bitcoin, you ain't in the circle p. Go over to peonylainewine.com and support your fellow Bitcoin plaid.
And make sure that you use the code Bitcoin and no, you're not gonna get a discount. However, this is value for value advertising. If I make a sale for Ben and Ben knows that I made the sale because you put in Bitcoin and in wherever it is that you can put Bitcoin and in the order form, because there's a couple of places you put comments just say, hey, man. I heard about it on Bitcoin. And then that tells Ben that I made a sale for him, and he can determine what that sale was worth to him. And he will get me back on the other side in Bitcoin. Use I mean, with all this, whenever I'm doing this, I always get paid in zaps is generally how it works or a huge boost on on the podcast or something like that. It's experimental. It's a little cludgy. I get it. However, I need to figure out a way to support the plebs in the space and have the plebs support me in the space so that we can both support you in the space because you might have thought the only place that I can go get wine is down at the store.
And I don't know any of the people that actually brew you know, that make this wine. In this case, it's Ben Jessman. He's a friend of ours. We all know and love Ben. He's one of the Bins, and he's got peonylanewine.com. That's pnepe0ny, peonylainewine,all1word,.com. Go buy some wine. Meanwhile, Hester Pierce, the SEC's well, SEC's Hester Pierce, has defends or has defended the transaction privacy as Tornado Cash verdict looms, so we are still waiting for this verdict to come out. Stephen Kati, Cointelegraph. US Securities and Exchange Commission commissioner Hester Pierce told an audience of blockchain researchers and practitioners on Monday that lawmakers and regulators need to protect people's rights to transact privately.
Her comments come as Roman Storm's tornado cash trial heads towards a verdict. Pierce said in a speech at the Science of Blockchain Conference that privacy protecting technologies and the right to self custody crypto should be safeguarded along with the rights of developers of open source privacy software who shouldn't be held responsible for how others use their code. We should take concrete steps to protect people's ability not only to communicate privately, but to transfer value privately as they could have done with physical coins in the days in which the Fourth Amendment was crafted, she said, quote, although a centralized intermediary or even a DAO, a DAO, deploying a DeFi application could build in restrictions on its use. An immutable open source protocol is available for anyone's use in perpetuity, so requiring that it comply with financial surveillance measures is fruitless.
Pierce's comments come amid jury deliberations in the trial of Roman Storm, cofounder of the crypto mixing service Tornado Cash, which allows users to mask the origin and destination of cryptocurrency from prying eyes. In the 1990s, governments, for national security reasons, wanted to keep strong cryptography out of private hands according to Hester Peirce. She noted it took court cases and pushback from cryptographers such as Phil Zimmerman, the developer of pretty good privacy encryption software, to turn the tide leading to many technological advancements.
The internet could not have succeeded without strong cryptography. So a determined set of cryptographers pushed back and convinced the government that cryptography in private hands was a net positive. Because of their hard fought victory in the courts and the court of public opinion, we daily rely on encryption to send email, engage in online banking, buy from online merchants, communicate with one another through voice and video, and conduct many other daily tasks. In the same speech, Pierce also said that regulators shouldn't be asking businesses to keep a record of who they or their customers transact with as was nearly enforced by the so called decentralized finance broker rule.
Doing so would deputize all of us to surveil all the rest of us, a practice antithetical to a free society nor should we require an intermediary to step in the middle of peer to peer transactions. As with the Internet, technologies that have legitimate uses are better left in the permissionless available for all to use category even though it enables people to use them for bad purposes because taking any other course would impinge fundamental liberties. Before Donald Trump killed it, on April 10, the Biden administration era defi broker rule would have required defi protocols to disclose gross proceeds from crypto sales including information regarding taxpayers involved in the transactions to the Internal Revenue Service.
Storm is standing trial in the Southern District Of New York over allegations that criminal elements used the mixing services for money laundering and that Storm is responsible for facilitating their actions. If convicted, he could face up to forty years in prison. Storm's defense team and the industry argued that tornado cash, like any tool, could be used by both normal citizens as well as bad actors, and the software developers shouldn't be held responsible for the actions of others. In a similar case, the cofounders of SamuraI Wallet are facing charges stemming from their involvement in the crypto mixing protocol. They opted to plead guilty on July 29 after initially trying to get the case dismissed.
Yes. It's pretty sad that this is still going on. However, it is good news that the tornado cash, trial or deliberate jury deliberations are still ongoing. It means that there's an argument. It means that there's somebody in there who's saying no. They should not be going. At least one. There's at least one person in there going, nope. Nope. No, dude. No. This is not right, and that's a good thing. It only take in a jury in The United States, it only takes one on a jury to dissent, and the whole thing collapses. So at least we got that going for us. Let's run the numbers.
Futures and commodities and oil is getting gut punched yet again. 1.4% to the downside for West Texas intermediate crude, that's $65.37 a barrel. Brent Norsee is down one and a third to $67.83. Natural gas doing its thing. It is in the green to the upside, two full points to $2.99 per thousand cubic feet. Gasoline is down a third to $2.09. Gold is up a third to 34, 39, and 7 dimes. Silver is up just over a full point. Platinum platinum, however, is down 1.13% as is copper, exact same number to the downside. Palladium is down over a half. Most of ag is in the red today. Biggest winner is coffee?
Nope. It's chocolate. 2.17% to the upside. Biggest loser is gonna be do do do do do do do do do do. Corn. Oh, corn is down. What? Point, 92%. Live cattle, however, livestock is in the green as far as AG is concerned, though. The live cattle is up one and a half percent. Lean hogs are up just over two full percent, and feeder cattle are up one and a half. The Dow is down a third. Nasdaq is down a half, and the S and P five hundred is down a half as well. S and P Mini is down point 62%, and Bitcoin is down as well all the way back down to $113,000. That's a $2,250,000,000,000 market cap, and we can only get 33.3 ounces of shiny metal rocks with our one Bitcoin of which there are 19,902,091 and 1 half of. An average fees per block are very, very low, 0.02 BTC taken in fees on a per block basis.
There are, wow, 18 blocks. Yeah. 18 blocks carrying 69,000 unconfirmed transactions waiting to clear at high priority rates of 4 Satoshis per v byte. Low priority is gonna get you in at three. Hash rate got a huge bump as from yesterday. It was 900 yesterday. It is now nine fifth 957 exahashes per second right now. And from the unknown hack, yesterday's episode of Bitcoin and I got, let's see. From what I can tell, anonymous with 2121 says, hey, Dave. Good episode. Here's a zap for this and some past episodes that I've been listening to while driving. Hey. On the El Salvador thing, have you heard any comment from Max and Stacy?
And I'm wondering what their take is on what is effectively indefinite leadership. I've also been thinking based on Bukele seeming to be a solid leader, if maybe this is the only route he could see to stop the country falling back to the hell that it was only five years ago under new leadership. I think the exact same thing. But think about it this way, it sets a precedent. Let's say let's say he's a benevolent dictator. Right? Literally, nothing the guy does is is bad for his country. Bad for the bad people in his country and bad for other countries, but for for his own citizenry. And that's let's say that that's all he gives a shit about.
Life just gets better and better and better, and and their freedoms, their personal citizenry based freedoms become more extensive. Nobody wants to argue against that because that's just good for the people of El Salvador. And then let's God forbid, because I don't want anybody to actually die, but it makes a point in the thought experiment. Let's say he gets hit by a gravel truck and dies. And the next guy that comes in is not as interested in the citizenry of El Salvador as he told Bukele that he was because it's probably gonna be, like, somebody very close to Bukele. And then all of a sudden, you can't get rid of this dude. Right? I mean, it it doesn't it what I'm getting at is that there's no such thing as indefinite leadership, except that it makes the bad a very long time of being bad. It also makes the good a very long time of being good. And, of course, we all we always want things to be good, but they can be bad as well. And if you've got a system in place that says you can be bad for as long as you want, you know, I mean, it's like I I just I don't see this as being a good thing.
I I I don't. I'd o I'd almost rather take my chances with getting some moron in there that could be at least a jet doesn't have time to collect up enough power differential around them that they can really smoke the elections and just keep getting elected again and again and again and again. So that's sort of what I got on that one. Chill now with seven seven seven says, chill dot traces activated the gaze no longer reveals it, records processes decide what once reflected humanity is now a tool of control. How's the system already rewritten you? System warning positive concept is forbidden.
Sysinit Activate profiling protocol system dot rebirth dot initializing. Alone protocol moves forward illuminated not by light, but by the hope of reclaiming what was lost. Raise error. Sys dot messages cannot be stopped. Protocol dot terminate dot connection. And then I get a nice little URL there, which I can't really read on air because it's illegible. Psyduck with 739 says yodel with 511. Long live King Bukele. Progressively worse with 500 says thank you, no thank you. Turkey says nothing with 500. And Pies, thank you, sir.
No. Thank you. That's the weather report. Welcome to part two of the news that you can use. And if you want things other than news on a Bitcoin podcast, you need to go visit my friend, Daniel Prince, of the Once Bitten podcast. I've been on Once Bitten at least twice. Daniel said that I've been on three times. I I've only got, like, a few neurons there, Daniel. I I I can't remember if I've been on three. I know I've been on at least twice. Right? But Daniel gives full scale interviews, and he starts them out by allowing his daughter to write a couple of questions herself. And, you know, she's a youngster. She's, like, 13, 14, or something like that. And she's she's been the the lead interrogator of the once bitten podcast for years. I think she started out when she was, like, like, eight, nine, or 10 or something like that. And she writes her own questions. She's asked she's asked, like, some hard questions to people like Michael Sailor.
It's a good podcast. They give interviews for with people like, let's say, like, they had the El Salvador property and expat consultancy couple, Chimbira and Lexi on a couple of days ago. And then Dion Wilson is an ex Broadway actor, and he was on this the last episode. So if you're looking for another Bitcoin another Bitcoin podcast that isn't really as much news based as it is interview based, then go to Once Bitten, a Bitcoin podcast with Daniel Prince. That's Once Bitten, b I t t e n. Check him out. Him and his daughter Lauren are very, very nice people, and I enjoy speaking to both of them greatly.
Also, before we end up with the rest of the news, I'm announcing that I am coming out with a bit not Bitcoin, a ComFree owner's manual. ComFree is a plant that I've talked about on several occasions. I'm writing up a guide that is essentially an owner's manual. What to do with it? Where to go get it? How to plan it? Why you want it? What it does? It's like if you have a car, you you they give you an owner's manual. How how to change the oil. You know, what what what if this light comes on, what does it mean? That the that's what an owner's manual is. Anyway, so I wanna make sure that I am at least preannouncing because sometime this week, I'm going to drop this guide. You'll be able to get it as a PDF when you sign up at bitcoinandshow.com.
That's bitcoinandshow.com. You can go over there right now and sign up, and the second that I drop that sucker, people are gonna get it. So bitcoinandshow.com, you'll get a full PDF of how to use, how to propagate, how to grow, how to plant, what what it does, everything that you needed to know about Comfrey that's not an encyclopedia. It will be it it it will give you what you need to know, how to get started, and then that's it. I'll I'll add I'll probably add to it later, but it's just I need a simple guide that I can just hand somebody and say, here, go buy Comfrey roots from Shishi, and when you get them, do this with it. And you do that with it. And here's what you can expect it to do for you. That's gonna be what's inside the ComFree owner's manual. Now, MEI Pharma has bought $100,000,000 of Litecoin.
As a treasury asset with with Charlie Lee coming back out of the woodwork and GSR as lead investors. Do you if you if you're new to Bitcoin, you may not know who the hell Charlie Lee is. These Charlie Lee is the original shit coiner. And I I actually, at at this point, I kinda say that with a little bit of reverence Because Charlie Lee was the first person to look at Bitcoin and say, I can fork that, and I can change some parameters, and I can make my own coin. And that's exactly what he did. He increased I think he increased the amount of coinage that could ever be printed to I think he'd multiplied it by four.
And I think the the length between blocks instead of being ten minutes is like one minute or something like that. He'd switched up some parameters. It's the longest running shit coin that there is. It predates Ethereum. Alright. It's the it was the first as far as I know, it was the first fork of Bitcoin that became something else. And then right hot off the heels of that, we had Dogecoin. Alright. So and Charlie Lee is the guy that did that. And then he got into a little bit of trouble. He sold all his bit or his Litecoin after the twenty seventeen peak, and he basically fell off the face of the planet. I hadn't heard from him in years. And now Charlie Lee is back with a pharmaceutical company buying a $100,000,000 worth of his shitcoin.
And I I know what you're thinking. Why are you telling us about this? Well, it's important to get the parameters down here because this is the exact same behavior as just shitcoinery in general. Like now you've had so many so many companies buy and put Bitcoin on their treasury balance sheets that now you get the copycat. The the the people that buy the the other coin because there's no room for Bitcoin to grow anymore. That's that's the it's the same psychology. So let's go through this and see if we can pick out potential points of how the psychology is working at scale.
Like instead of just a single shit coin or on the street telling people that they own Cardano and you're trying to beg them to stop being dumb and they won't do it. Let's let's see what happens when you scale that up. When you when you go fractal on its ass and go into a corporate setting. MEI Pharma, a Nasdaq listed pharmaceutical company, has acquired a whole shit ton of Litecoin tokens for a $100,000,000, becoming the first US listed firm to adopt Litecoin as its primary treasury reserve asset. Okay. So first, we we start out with a copycat. Right? We're gonna do what these other companies are doing, but we're gonna use another asset.
The tokens were purchased at at an average price of a $107 between July 30 and August 4. At current market prices of around a $124, the LTC treasury is now valued at about a $115,000,000. Litecoin is the twenty fourth largest cryptocurrency by market capitalization. The purchase was fully funded through a $100,000,000 private placement closed last month with Litecoin creator Charlie Lee and crypto trading firm GSR acting as lead investors. Lee has joined MEI's board of directors, replacing Tahir Datu, and GSR has been appointed as the company's treasury asset manager.
God, this almost sounds like a a cancerous invasion, honestly. Other investors include the Litecoin Foundation, Parify, Hivemind, Primitive, RLH Capital, and Delta Blockchain. MEI said its treasury strategy focuses on Litecoin due to its thirteen year record of uninterrupted uptime, low fees, and fast settlement. The company also cited Litecoin's integration into platforms like BitPay, PayPal, and Robinhood as validation of its utility. So there's there's the there's the cope, c o p e. There's the coping mechanism. So remember, you know, you got you got the guy on the street buying Cardano.
We're trying to tell him not to. And what what do they do? They cope. They give a reasoning for their for their incessant shit coinery. Continuing, the company may expand its strategy to include Litecoin mining. Yes. Litecoin is mined just like Bitcoin. And other initiatives. MEI continues to operate its drug development pipeline, including vorucilciclib, an experimental treatment being developed for, of course, cancer, because that's what everybody develops for, and anticipates commencing further investigational research and development in the next several months. Titan Partners Group, a division of American Capital Partners, acted as the sole placement agent in the deal.
Legal advisers were Morgan Lewis and Bakkes LLP for MEI and Lukoski Brockman LLP for the placement agent, MEI joins a growing number of public companies adopting crypto treasury strategies. This is nothing but corporate shit coinery. It is the exact same thing and it follows the exact same pattern as individual shit coinery it's the exact same thing see this this is why it's important to look at the stuff that you don't wanna look at. We're going to see a whole bunch of this. It's going yes. Alt season is upon us. And if you don't know what alt season is, it's just this time of the cycle where altcoins start following Bitcoin's lead, and then you get all the influencers out there telling you that Bitcoin is dead. And we rinse and repeat over and over and over and over and over again. We are now in the part of the of this cycle where we're graduating from being single shitcoiners and going to the corporate level.
It is fractal in nature where a single pattern ends up making a much larger pattern that looks like the same pattern as the original pattern. If you don't really know what I mean, just search use whatever search engine you want and say show me a fractal. Explain a fractal to me. It's it's not a hard concept. The mathematics behind it is something you probably don't want to get into, but you can look at pretty pictures and go, oh, oh, okay. It's fractal and everything in nature is fractal. The same pattern of the way that that your lungs look like the little air passages in your lung looks like the veins of a leaf on a tree because that particular pattern provides a lot of surface area that can service a lot of volume.
It is a bifurcating type of pattern. That bifurcation where one becomes two and then those two go on and then those become like each one of those become two. So you got four and then eight and then 16. And it just looks like the just look at any leaf on a tree and you will discover the miracle that is bifurcation. It's a natural pattern. And it does not surprise me that we are now scaling that pattern up from a single individual moron to corporate moronship. Congratulations, MEI. You've you've done it. But they weren't the first. They weren't the first corporate treasury to get into corporate level morality and shit coinery because we've got Sharplink.
And there's a very good reason I'm going to present you with this story as well. Yes. It is a shitcoin company, but it presents a different kind of pattern. Ethereum treasury company, Sharplink, has added $265,000,000 of shitcoin number one to its holdings out of Decrypt, written by Matt DeSalvo, who I'm sure probably needs a bar of soap miner soap to get the scum off of him after writing this thing. Ethereum treasury Sharplink Gaming bought $264,500,000 in Ethereum last week. The Minneapolis, Minnesota based firm's holdings have grown to 521,939 of the digital coin now worth nearly 1,900,000,000.0 after it bought 83,000 ETH between July 28 and the August 3.
Publicly traded Sharplink was trading less than 1% higher on Tuesday at nearly $19 a share. Sharplink stock has shot up by over 420. It's a 420% since the May when it was trading for less than $4 a share. Sharplink could not be reached for comment. I don't know. Maybe Sharplink and the Shitcoin people were out to lunch. Who knows? But Sharplink, which pivoted its focus from marketing, first announced that it had raised 425,000,000 to establish an Ethereum treasury in May. And since then I know I know you're, like, you're freaking out that I'm saying Ethereum so much. I got a point. But to be fair to the article, I gotta read it. Right? I can't just interpret it for you because then you're depending on me to tell you what this thing says. This is why I read the articles.
Since then, it has bought more digital coins at the price of the second biggest cryptocurrency by market value or as the price has risen. In July alone, Sharpenck spent $780,000,000 on ETH. And then they do talk about the ETH price, which I do not give a shit about, and then they talk about other publicly traded companies, which I do not give a shit about. And then, of course, everybody compares themselves to strategy. Well, that's that now that's the end of the article because that stuff, honestly, you don't need to know that Bitcoin and Ethereum, there are people who are buying Bitcoin and Ethereum and as well as altcoins like Solana and XRP.
It's it's okay. At this point, I think it's okay for me to say, trust me, you don't need a market recap of the Ethereum price performance. We we don't need it. So who's Sharplink? Sharplink is a company that is headed the chairman is Joseph Lubin. And you go, well, I don't give a shit. Who's Joseph Lubin? He's the co creator of Ethereum. Automatically, the red flag should be raised. The red flag should be raised in your head. So Joseph Lubin, who co created, Ethereum, and he's said on occasion that he doesn't like to be referred to as the co creator of Ethereum, but he did. He may not have been sitting there coding it alongside Vitalik Buterin and his little band of merry men, but he was responsible for for the release of this absolute piece of crap upon the world, and we can't get rid of it.
So he goes and he becomes the chairman of the board at Sharplink. And then all of a sudden, Sharplink starts buying Ethereum. That's a conflict of interest. I'm sorry, but it is. He's for he's come in. He stepped in as chairman of the board of Sharplink, and he has basically determined that you're going to eat my dog food. So therefore, you're going to have to buy my dog food. Therefore, you're pumping my bags. So he's using a company to force the price of Ethereum higher. And and I'm going to actually give him the benefit of the doubt and say that he's not trying to pump his own bags. He's got enough money. He doesn't need any more money. He's got more money than he knows how to spend in a lifetime. Right?
He just doesn't want Ethereum to die. And ever since, Sharp Link and a couple of other companies have been buying Ethereum, the Ethereum price to Bitcoin price ratio is starting to extend above the level of being in a sewer, which it was been in has been in for months and months and months and months and months. I won't get into it, but the opportunity cost borne by those that hold that particular shit coin is eye watering in scope. The amount of Bitcoin that they could have had but didn't buy because they were holding on to this shit coin is just it's staggering and it makes me sad. However, that ratio is starting to actually rise. It's up above was it point zero zero three zero is basically the line that that that it's been under as a ratio for a a while, which means if you try to figure that out, its performance against Bitcoin is not good at at like, it hasn't ever really been all that good. It's just that it's starting to have a dead cat bounce.
And it's because people like Joseph Lubin are talking people into spending their real money on this shit coin. So instead of going directly to retail, which was the original pattern of getting rid of your shitcoin and having your bags pumped or protecting your stake or whatever your reasoning is, instead of going to the little guy on the street that can't afford to lose much money, he's going to companies and stepping in as chairman and forcing them to buy this shit coin. This is another example of the scaling up of human greed in the absence of any ethical pattern whatsoever.
Joseph Lubin should be ashamed of himself, but I guarantee you, he goes to sleep at night and probably rest his head on a pillow full of money. Right? He's sleeping just fine. He doesn't care. He just doesn't care. MEI is going to pay the price for this sooner rather than later probably, but eventually, and it's gonna be ugly. Or, actually, no. Not MEI is also going to to have a problem because they're holding Litecoin. This is SharpLink. They're going to have a problem because because they're holding this this Ethereum. So Charlie Lee is stepping in, and he's getting MEI to buy Litecoin. Joseph Lubin, the cocreator of the very shit coin that he's forcing Sharp Link to buy.
Do you see it? This pattern goes on and on and on. What's the next stop? Full banks. The stop after that, full blown governments. I mean, I wish I could I could think of where the buck stops after that, but honestly, I I I can't really, except for, you know, go go back to selling individuals this this garbage. Those individuals would be those individuals that are always unnamed, that are in control, that are always behind the scenes, that are somehow or another, like, you say, oh, we know George Soros and David Attenborough and was was it, like, what did some of these other, like, famous families? You know? There's there's people behind them whose names you don't know.
Yeah. So that I I guess that would be the final resting place of being able to shield somebody your shit coin. Don't fall for it, man. Don't fall for it. And it gets even worse. This time, we're gonna talk about a mechanism of why this is going to get so much worse. It's almost as if they've automated dumping crap on retail as the actual human beings step it up and go to corporate shitcoinery because AI bot named Clanker racks up $34,000,000 in swap fees launching base meme coins. This is gonna be really sad, and you're really going to have to watch yourself, people. Adrian Zmutsky for Cointelegraph finishes us off on this shitcoin trail.
Clanker, a decentralized application built around an artificial intelligence agent that creates meme coins based on prompts, has generated over $34,400,000 in fees according to blockchain data, according to the clinker fees Dune data dashboard. The liquidity pool fees earned by clinker have reached $34,400,000, and the daily fees, the fees made every day peaked on November at $1,100,000 earned in a single day. Clanker's official website shows 355,000 live clankers, and that's referring to the tokens deployed through its AI agent. It also showed an ecosystem market cap of a 172,300,000.0 and that 34,400,000.0 of creator fees were earned through it. Quote, Clanker is an AI that launches crypto tokens for you.
Repeat that. Clanker is an AI that launches crypto tokens for you, the website explains. Give it a name and a symbol, and it handles deployment, market creation, and fee sharing auto magically. Planker's token explanation page promises token creators that they will earn 1% fees on decentralized exchange liquidity pool trades. The site also promises that users do not need crypto knowledge and only need to provide token details. Launching a token could be as little as tagging the at clinker bot on the Farcaster x alternative or interacting with the clinker website.
Developers have also or also have access to a dedicated software development kit. Oh, joy. A separate Dune data dashboard. So, excuse me, shows that the cumulative trading volume of tokens created with Clanker has reached nearly $3,480,000,000, and the volume peaked on 11/26/2024 when it reached almost $61,000,000. Clanker is currently at its fourth protocol version deployed in mid June. The latest version alone has been responsible for the deployment of 7,819 different tokens. Shamir Azeri, cofounder and CEO at Web three AI agent project ensemble, told CoinTelegraph that, quote, AI agents are starting to show up in basis on chain activity in meaningful ways.
He said that average clinker daily fees climbed from about 65,000 in June to 89,000 in July, which is a 37% increase. Quote, this growth comes from agents becoming easier to use and more trusted, Ozzeri said, and he explained that such agents abstract away the complexity of decentralized finance and, quote, helps users make better decisions without needing to understand the technical details. Big red flag. Azeri said that most of the AI agent growth on base involves trading and DeFi focused agents such as Bankr. B a n k r is a AI interface for the DeFi ecosystem enabling users to instruct the agent to perform trades.
The bridge asset or and bridge assets between chains and more on their behalf. This growth, according to Azeri, suggests agents aren't just a future concept but are already contributing to network usage. It's early, but it points to a shift where agents are becoming active economic participants on chain rather than just experimental demonstrations. That's the end of the article, but it should not be the end of you thinking about how to stay away from this crap. It's going to get bad. We're we're talking about an AI that just goes out and makes different tokens. 355,000 different shit coins full shit okay well okay they're not full shit coins because a true shit coin has got a blockchain behind it Tokens, not so much. It's a little it's it's different. Right? But no there's not enough people that know the difference that will be able to stop or stem the tide of retail thinking that they're buying something of value.
355,000 different ones. I'm not talking about one kind of token like like I don't know pill token from MEI pharmaceutical has like a volume or not a volume but like a 355,000 coins. No. These are completely separate tokens. Each one of them has, like, I don't know, thousands, 10,000, 100,000, millions of tokens behind it. And there's 355,000. And, like, almost a quarter of those were generated, like, over the last few months. And it's going to get worse and worse and worse and worse and worse. And it's going to prey upon the the greed and the fear of humans until it completely eviscerates any potential wealth anywhere in the world from anybody who is even remotely ignorant about what Bitcoin is. It's a full blown attack on Bitcoin.
We've seen it before. We've weathered it before. We survived them before. We've won them before. It's just another one. Not saying that, woah, hair on fire, let's go run around in a circle out in the street and scream. No. No. No. But do be aware that this shit's gonna get terrible because now you don't even have to work at it. You can just sit behind a computer and say, I think I want to spend up 10,000 different tokens today. Hey, AI agent, why don't you get that shit done for me while I go sit on the toilet and, I don't know, look at Instagram. And some poor dumb son of a bitch in South Korea is gonna go, dude, this token's got a great emblem.
Look at the iconography. I want that. That token's gonna be worth something. It's all so tiresome. It really is. It's gonna be up to you to warn your family and your friends that this clanker, and it won't be the last, it's not just gonna be clanker, is just designed to take their money and transfer it to somebody else. We've we've we had to do this by hand back in the day of Litecoin and Dogecoin, the the rise of Ethereum where we were warning people, you don't wanna hold this shit. But at least in those cases, people had to sit behind computers and actually, I don't know, write code, come up with white papers that that while plagiarizing other white papers made a kind of sense to retail so that retail would be dumb enough to give them their money.
It makes me sad. It it really does that nobody is ever going that that a majority of humanity is just never going to be able to learn the fundamental lesson of not getting fooled into giving somebody else your money. I hope you're not one of them. Protect yourself. Gird your loins. It's coming fast, and it's gonna get faster. I'll see you on the other side. This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
It is 07:57AM Pacific Daylight Time. It is the August 2025 and this is episode eleven forty of Bitcoin and we're going to talk about this this executive order that may or may not come out from the president's desk about debanking. We're also going to touch a little bit on the United Kingdom Police Force seizing Bitcoin and getting a windfall from it after returning part of the Bitcoin. Anyway, this is Bitcoin and it's all the news you can use. I'm your host David Bennett and we're just gonna dive right into the first stories of the day. Let's just do the White House one. New White House order could punish banks. Yep. Yeah. Oh my God. They're gonna punish the banks for dropping customers over beliefs.
It's already problematic. What what is a belief? This may just be bad word choice by these stories author, which is Francisco Rodriguez out of CoinDesk, but we'll we'll we'll see. Yeah. We'll we'll see because this is gets really sticky when you start getting into the weeds of something like this. Okay. So the White House is preparing an executive order that would penalize penalize banks for cutting off customers over their beliefs. The order reported on by The Wall Street Journal is expected to be signed by president Donald j Donald Donald Donald j Trump as early as this week.
It would direct banking regulators to investigate whether financial firms violated the Equal Credit Opportunity Act or other consumer protection laws when closing accounts. Oh, so there's some there's some legal backing behind this with the equal credit opportunity act. Interesting. While the order could still be altered, it would bring further stability to the crypto sector. During the Biden administration, a coordinated effort from the federal government other than debanking crypto firms, an effort known as operation choke point two point o.
And the the the draft order does not name specific banks, but it reportedly references an incident involving Bank of America and a Christian nonprofit in Uganda. The bank said it closed the accounts because it does not serve small businesses operating abroad. The initiative is part of a broader push by the Trump administration to stop this debanking. It's a practice of denying financial services for ideological reasons. Banks say their decisions are often driven by concerns about money laundering and regulatory scrutiny and have blamed regulatory pressure for avoiding the crypto industry. The order calls for regulators to refer violations to the attorney general.
The justice department has already taken steps in the order's direction launching in April in April, a task force to investigate claims that banks were denying customers access to credit or financial services based on, quote, impermissible factors, end quote. Banks have been updating their policies and met with the Republican attorney general or attorneys general trying to avoid further conflict, per the report. Still, the the crypto and wider fintech sector may still face banking difficulties. Venture capital firm, Andreessen Horowitz, a k a a sixteen z, has warned that banks are making it more expensive for customers to use these apps in what could be seen as a operation choke point three point o.
It's a full point upgrade y'all. That is a reference to banks that are accepting crypto and fintech business as clients but charging them hefty fees to access account data or move money affecting services like Coinbase or Robinhood and potentially strangling competition. Okay. So what's gonna be defined as a belief? Is it my Christian values? I'm an Episcopalian. You know, I mean, is that that's a that is a belief. I have a belief in God through the lens of the Episcopal church, which is subset of Christianity in general. It's like a branch of the of the Jesus tree. I don't know. I mean, wherever you wanna put it. Is that a belief? I think I think it would be fair to say that most people would say, well, yeah, that's a belief.
Well, what about if I have a gunshot? Do I believe in guns or do I believe in the Second Amendment? Is that a is it a belief or is it just I make money off of selling guns? I don't have to have a belief. Like, for instance, if I had a fucking burrito stand. Right? I I don't believe in burritos. I just wanna make some really good burritos. There's a place in Midland, Texas called Jumb burrito. Best burritos I've ever had. I miss it all the time. I literally still think about those burritos. Specifically, I'm thinking about their red and green sauces as well as their burritos, but, hey, it's it's an entire package. They don't believe in burritos.
Right? What they believe in is making money and the vehicle they've chosen to do it with is selling really tasty burritos. I mean, these things are freaking fabulous, dude. If you're ever in Midland, Texas, you gotta go to Jumbarito man, you just gotta go. Anyway, so what's a belief? Yeah. What how is this executive order going to make sure that what really needs to occur is that people just need to stop getting debanked? Okay. If I'm running money, you know, money through my bank account from selling drugs to school kids, If you can prove it beyond a shadow of a doubt, then and only then, after a court of law, when I've been convicted and found guilty, would those accounts be then frozen, taken away, whatever? Or or if I was in let's I'll give him this. I'm indicted for selling drugs to school kids. Okay?
I have there's such a suspicion, such a a leverage of potential guilt against me in that activity that I've been indicted, okay. Freeze the accounts. But up until that point, honestly, there's no reason for any bank to close anybody at all ever. It just it doesn't make a whole hell of a lot of sense. But these are the sticky things that causes problems later on. If things are not especially in matters of policy, if things are not well defined, if if things are just kind of like amorphous and, you know, up for interpretation at a drop of a hat, then problems occur. And I could definitely see problems occurring with this one. However, I will say this, this shit needs to be something needs to be done. You can't just say, hey. But you know what?
You're you run a little bit too much you're too close to a Cash App and Strike. And because Strike is very Bitcoin heavy and, Cash App is kind of Bitcoin heavy, we're just gonna make the assumption that you're dealing in Bitcoin, and and we don't really wanna do business with you. So they close not only your account, but any accounts associated with you, which would suck, especially for me. Because just because I do something personal doesn't mean that I need to have the other four bank accounts associated with various companies that I'm just part of closed, You know? So I'm I'm glad that they're doing something. I just honestly, it just bugs me that they're not being very upfront about the parameters.
Define the parameters, please. Let's go over to The United Kingdom, and the kingdom is falling down. For more for more reasons than this, but this is this is an instance, the UK police force gets a $665,000 Bitcoin windfall from seizures. Connor Steffton from Decrypt. Crime doesn't pay. Well, maybe it does, the old saying goes. But a police force in Northern England may beg to differ. Lancashire Constabulary has revealed that it's received a $665,000 windfall after seizing Bitcoin from thieves. The case dates back all the way to December 2017 when detectives received reports that money had been stolen. Oh my god.
An investigation later revealed that the funds had been converted into Bitcoin, which had hit $20,000 for the first time in that same month. By the time the wallets holding this ill gotten crypto had been frozen, BTC had risen substantially in value. This meant that the victim could be compensated in full, but British law does not allow them to be overpaid. Once the Bitcoin was liquidated and the victim made whole, Len Kishire Constabulary was left with a $1,300,000 surplus to reckon with. It's now been announced that the police force will receive half of these proceeds in a few months, which will be allocated to a special crime fighting fund. Oh, we gotta go fight some crime. And the other half is, of course, going to be sent to the United Kingdom government because they apparently need it, I guess.
Anyway, according to a statement, this fund had previously been used to purchase drones, invest in spam call blocking devices, and finance community projects designed to clamp down on antisocial behavior. Really? Like ripping kids out of their backyard? Oh, you know what? I'm not even gonna get into that story. If you don't know what I'm talking about if you're if you're not watching what's going on in The UK right now and has been occurring for okay. Let's just call it a couple of years minimum, then you're you're you're missing out on one of the most horrific public endangerment stories I've ever seen.
This is you know, do you know The UK? There's a Australians are being warned by the Australian government not to go to The United Kingdom because it's dangerous. It when Australia is telling you that another country is is dangerous, This is a country that literally the land, the environment, and all the insects and fauna and flora is trying to kill humans. Alright? This is one of the most dangerous continents on the face of the planet, and it's pointing at UK saying, yeah, probably shouldn't go there. That's how bad it is. Anyway, whatever. Clamped down on antisocial behavior, my ass. It's hoped that the investment will help disrupt the cycle of crime and prevent future offenses.
Detective Sergeant David Wainwright from the forces economic crime unit said, quote, this is a great result for the people of Lancashire. And hopefully, the first time or the first of many future uses of this new legislation, you want to steal. You're you're literally hoping to be able to continue theft. Wow. Anyway, quote, it's unusual for the criminal property to rise in value to more than that of its original crime, but this has allowed us to fully compensate the victim with some spare that can be used to reduce crime. Those involved in the theft, all who were from Lancashire had been sentenced for their part of the crime. So you basically stole the profit potential that the original victim could have realized, kept it for yourself, and said that you're you're good Joes because you compensated the victim for the theft.
Even even even though and I'll we'll we'll say this. It was the thieves that actually converted the cash that was stolen into Bitcoin. Okay. So I get that there's a precedent, but this I everything about this is this is just going to engender civil asset forfeiture of what however you wanna call it, Where you can just take the property of the citizenry and in this particular case, recover the property of the citizenry. Tell them that, well, by law, we can't overcompensate you so we can only give you the $20 back but we're keeping the $400 of profit that was made in the meantime.
This is a terrible precedent, and it's going to set up extremely bad incentives for the UK police force. And not only it's not only gonna be just The UK. I mean, come on. This this is gonna be everywhere. We've already seen instances of it, but this is this is a really good flashlight being shown or shined rather. I did it again. I've made up a word. Shined on this kind of behavior. And this kind of behavior, this is honestly, man, this just kind of is going to turn into straight up racketeering. Mark my words, racketeering. You might wanna get yourself a drink when that shit happens. And you can do so from peonylainewine.com.
That's peonylainewine.com. Circle p is open for business. It's where I bring plebs with goods and services for sale to plebs just like you that want to buy those said good and services. And if you want wine, if you want some really good red wine anyway, and he's got I think he's got a white too. Yes. He does. He he he does have a Sauvignon Blanc. Go to peonylanewine.com. Ben Jessman is the vendor over there. He's he's the owner of the whole operation, in fact. He takes care of the soil. He grows the grapes. He crushes the grapes. He brew he makes the wine. He ages the wine, and then he happily sells it for Bitcoin. Because if you're not selling your goods and services in Bitcoin, you ain't in the circle p. Go over to peonylainewine.com and support your fellow Bitcoin plaid.
And make sure that you use the code Bitcoin and no, you're not gonna get a discount. However, this is value for value advertising. If I make a sale for Ben and Ben knows that I made the sale because you put in Bitcoin and in wherever it is that you can put Bitcoin and in the order form, because there's a couple of places you put comments just say, hey, man. I heard about it on Bitcoin. And then that tells Ben that I made a sale for him, and he can determine what that sale was worth to him. And he will get me back on the other side in Bitcoin. Use I mean, with all this, whenever I'm doing this, I always get paid in zaps is generally how it works or a huge boost on on the podcast or something like that. It's experimental. It's a little cludgy. I get it. However, I need to figure out a way to support the plebs in the space and have the plebs support me in the space so that we can both support you in the space because you might have thought the only place that I can go get wine is down at the store.
And I don't know any of the people that actually brew you know, that make this wine. In this case, it's Ben Jessman. He's a friend of ours. We all know and love Ben. He's one of the Bins, and he's got peonylanewine.com. That's pnepe0ny, peonylainewine,all1word,.com. Go buy some wine. Meanwhile, Hester Pierce, the SEC's well, SEC's Hester Pierce, has defends or has defended the transaction privacy as Tornado Cash verdict looms, so we are still waiting for this verdict to come out. Stephen Kati, Cointelegraph. US Securities and Exchange Commission commissioner Hester Pierce told an audience of blockchain researchers and practitioners on Monday that lawmakers and regulators need to protect people's rights to transact privately.
Her comments come as Roman Storm's tornado cash trial heads towards a verdict. Pierce said in a speech at the Science of Blockchain Conference that privacy protecting technologies and the right to self custody crypto should be safeguarded along with the rights of developers of open source privacy software who shouldn't be held responsible for how others use their code. We should take concrete steps to protect people's ability not only to communicate privately, but to transfer value privately as they could have done with physical coins in the days in which the Fourth Amendment was crafted, she said, quote, although a centralized intermediary or even a DAO, a DAO, deploying a DeFi application could build in restrictions on its use. An immutable open source protocol is available for anyone's use in perpetuity, so requiring that it comply with financial surveillance measures is fruitless.
Pierce's comments come amid jury deliberations in the trial of Roman Storm, cofounder of the crypto mixing service Tornado Cash, which allows users to mask the origin and destination of cryptocurrency from prying eyes. In the 1990s, governments, for national security reasons, wanted to keep strong cryptography out of private hands according to Hester Peirce. She noted it took court cases and pushback from cryptographers such as Phil Zimmerman, the developer of pretty good privacy encryption software, to turn the tide leading to many technological advancements.
The internet could not have succeeded without strong cryptography. So a determined set of cryptographers pushed back and convinced the government that cryptography in private hands was a net positive. Because of their hard fought victory in the courts and the court of public opinion, we daily rely on encryption to send email, engage in online banking, buy from online merchants, communicate with one another through voice and video, and conduct many other daily tasks. In the same speech, Pierce also said that regulators shouldn't be asking businesses to keep a record of who they or their customers transact with as was nearly enforced by the so called decentralized finance broker rule.
Doing so would deputize all of us to surveil all the rest of us, a practice antithetical to a free society nor should we require an intermediary to step in the middle of peer to peer transactions. As with the Internet, technologies that have legitimate uses are better left in the permissionless available for all to use category even though it enables people to use them for bad purposes because taking any other course would impinge fundamental liberties. Before Donald Trump killed it, on April 10, the Biden administration era defi broker rule would have required defi protocols to disclose gross proceeds from crypto sales including information regarding taxpayers involved in the transactions to the Internal Revenue Service.
Storm is standing trial in the Southern District Of New York over allegations that criminal elements used the mixing services for money laundering and that Storm is responsible for facilitating their actions. If convicted, he could face up to forty years in prison. Storm's defense team and the industry argued that tornado cash, like any tool, could be used by both normal citizens as well as bad actors, and the software developers shouldn't be held responsible for the actions of others. In a similar case, the cofounders of SamuraI Wallet are facing charges stemming from their involvement in the crypto mixing protocol. They opted to plead guilty on July 29 after initially trying to get the case dismissed.
Yes. It's pretty sad that this is still going on. However, it is good news that the tornado cash, trial or deliberate jury deliberations are still ongoing. It means that there's an argument. It means that there's somebody in there who's saying no. They should not be going. At least one. There's at least one person in there going, nope. Nope. No, dude. No. This is not right, and that's a good thing. It only take in a jury in The United States, it only takes one on a jury to dissent, and the whole thing collapses. So at least we got that going for us. Let's run the numbers.
Futures and commodities and oil is getting gut punched yet again. 1.4% to the downside for West Texas intermediate crude, that's $65.37 a barrel. Brent Norsee is down one and a third to $67.83. Natural gas doing its thing. It is in the green to the upside, two full points to $2.99 per thousand cubic feet. Gasoline is down a third to $2.09. Gold is up a third to 34, 39, and 7 dimes. Silver is up just over a full point. Platinum platinum, however, is down 1.13% as is copper, exact same number to the downside. Palladium is down over a half. Most of ag is in the red today. Biggest winner is coffee?
Nope. It's chocolate. 2.17% to the upside. Biggest loser is gonna be do do do do do do do do do do. Corn. Oh, corn is down. What? Point, 92%. Live cattle, however, livestock is in the green as far as AG is concerned, though. The live cattle is up one and a half percent. Lean hogs are up just over two full percent, and feeder cattle are up one and a half. The Dow is down a third. Nasdaq is down a half, and the S and P five hundred is down a half as well. S and P Mini is down point 62%, and Bitcoin is down as well all the way back down to $113,000. That's a $2,250,000,000,000 market cap, and we can only get 33.3 ounces of shiny metal rocks with our one Bitcoin of which there are 19,902,091 and 1 half of. An average fees per block are very, very low, 0.02 BTC taken in fees on a per block basis.
There are, wow, 18 blocks. Yeah. 18 blocks carrying 69,000 unconfirmed transactions waiting to clear at high priority rates of 4 Satoshis per v byte. Low priority is gonna get you in at three. Hash rate got a huge bump as from yesterday. It was 900 yesterday. It is now nine fifth 957 exahashes per second right now. And from the unknown hack, yesterday's episode of Bitcoin and I got, let's see. From what I can tell, anonymous with 2121 says, hey, Dave. Good episode. Here's a zap for this and some past episodes that I've been listening to while driving. Hey. On the El Salvador thing, have you heard any comment from Max and Stacy?
And I'm wondering what their take is on what is effectively indefinite leadership. I've also been thinking based on Bukele seeming to be a solid leader, if maybe this is the only route he could see to stop the country falling back to the hell that it was only five years ago under new leadership. I think the exact same thing. But think about it this way, it sets a precedent. Let's say let's say he's a benevolent dictator. Right? Literally, nothing the guy does is is bad for his country. Bad for the bad people in his country and bad for other countries, but for for his own citizenry. And that's let's say that that's all he gives a shit about.
Life just gets better and better and better, and and their freedoms, their personal citizenry based freedoms become more extensive. Nobody wants to argue against that because that's just good for the people of El Salvador. And then let's God forbid, because I don't want anybody to actually die, but it makes a point in the thought experiment. Let's say he gets hit by a gravel truck and dies. And the next guy that comes in is not as interested in the citizenry of El Salvador as he told Bukele that he was because it's probably gonna be, like, somebody very close to Bukele. And then all of a sudden, you can't get rid of this dude. Right? I mean, it it doesn't it what I'm getting at is that there's no such thing as indefinite leadership, except that it makes the bad a very long time of being bad. It also makes the good a very long time of being good. And, of course, we all we always want things to be good, but they can be bad as well. And if you've got a system in place that says you can be bad for as long as you want, you know, I mean, it's like I I just I don't see this as being a good thing.
I I I don't. I'd o I'd almost rather take my chances with getting some moron in there that could be at least a jet doesn't have time to collect up enough power differential around them that they can really smoke the elections and just keep getting elected again and again and again and again. So that's sort of what I got on that one. Chill now with seven seven seven says, chill dot traces activated the gaze no longer reveals it, records processes decide what once reflected humanity is now a tool of control. How's the system already rewritten you? System warning positive concept is forbidden.
Sysinit Activate profiling protocol system dot rebirth dot initializing. Alone protocol moves forward illuminated not by light, but by the hope of reclaiming what was lost. Raise error. Sys dot messages cannot be stopped. Protocol dot terminate dot connection. And then I get a nice little URL there, which I can't really read on air because it's illegible. Psyduck with 739 says yodel with 511. Long live King Bukele. Progressively worse with 500 says thank you, no thank you. Turkey says nothing with 500. And Pies, thank you, sir.
No. Thank you. That's the weather report. Welcome to part two of the news that you can use. And if you want things other than news on a Bitcoin podcast, you need to go visit my friend, Daniel Prince, of the Once Bitten podcast. I've been on Once Bitten at least twice. Daniel said that I've been on three times. I I've only got, like, a few neurons there, Daniel. I I I can't remember if I've been on three. I know I've been on at least twice. Right? But Daniel gives full scale interviews, and he starts them out by allowing his daughter to write a couple of questions herself. And, you know, she's a youngster. She's, like, 13, 14, or something like that. And she's she's been the the lead interrogator of the once bitten podcast for years. I think she started out when she was, like, like, eight, nine, or 10 or something like that. And she writes her own questions. She's asked she's asked, like, some hard questions to people like Michael Sailor.
It's a good podcast. They give interviews for with people like, let's say, like, they had the El Salvador property and expat consultancy couple, Chimbira and Lexi on a couple of days ago. And then Dion Wilson is an ex Broadway actor, and he was on this the last episode. So if you're looking for another Bitcoin another Bitcoin podcast that isn't really as much news based as it is interview based, then go to Once Bitten, a Bitcoin podcast with Daniel Prince. That's Once Bitten, b I t t e n. Check him out. Him and his daughter Lauren are very, very nice people, and I enjoy speaking to both of them greatly.
Also, before we end up with the rest of the news, I'm announcing that I am coming out with a bit not Bitcoin, a ComFree owner's manual. ComFree is a plant that I've talked about on several occasions. I'm writing up a guide that is essentially an owner's manual. What to do with it? Where to go get it? How to plan it? Why you want it? What it does? It's like if you have a car, you you they give you an owner's manual. How how to change the oil. You know, what what what if this light comes on, what does it mean? That the that's what an owner's manual is. Anyway, so I wanna make sure that I am at least preannouncing because sometime this week, I'm going to drop this guide. You'll be able to get it as a PDF when you sign up at bitcoinandshow.com.
That's bitcoinandshow.com. You can go over there right now and sign up, and the second that I drop that sucker, people are gonna get it. So bitcoinandshow.com, you'll get a full PDF of how to use, how to propagate, how to grow, how to plant, what what it does, everything that you needed to know about Comfrey that's not an encyclopedia. It will be it it it will give you what you need to know, how to get started, and then that's it. I'll I'll add I'll probably add to it later, but it's just I need a simple guide that I can just hand somebody and say, here, go buy Comfrey roots from Shishi, and when you get them, do this with it. And you do that with it. And here's what you can expect it to do for you. That's gonna be what's inside the ComFree owner's manual. Now, MEI Pharma has bought $100,000,000 of Litecoin.
As a treasury asset with with Charlie Lee coming back out of the woodwork and GSR as lead investors. Do you if you if you're new to Bitcoin, you may not know who the hell Charlie Lee is. These Charlie Lee is the original shit coiner. And I I actually, at at this point, I kinda say that with a little bit of reverence Because Charlie Lee was the first person to look at Bitcoin and say, I can fork that, and I can change some parameters, and I can make my own coin. And that's exactly what he did. He increased I think he increased the amount of coinage that could ever be printed to I think he'd multiplied it by four.
And I think the the length between blocks instead of being ten minutes is like one minute or something like that. He'd switched up some parameters. It's the longest running shit coin that there is. It predates Ethereum. Alright. It's the it was the first as far as I know, it was the first fork of Bitcoin that became something else. And then right hot off the heels of that, we had Dogecoin. Alright. So and Charlie Lee is the guy that did that. And then he got into a little bit of trouble. He sold all his bit or his Litecoin after the twenty seventeen peak, and he basically fell off the face of the planet. I hadn't heard from him in years. And now Charlie Lee is back with a pharmaceutical company buying a $100,000,000 worth of his shitcoin.
And I I know what you're thinking. Why are you telling us about this? Well, it's important to get the parameters down here because this is the exact same behavior as just shitcoinery in general. Like now you've had so many so many companies buy and put Bitcoin on their treasury balance sheets that now you get the copycat. The the the people that buy the the other coin because there's no room for Bitcoin to grow anymore. That's that's the it's the same psychology. So let's go through this and see if we can pick out potential points of how the psychology is working at scale.
Like instead of just a single shit coin or on the street telling people that they own Cardano and you're trying to beg them to stop being dumb and they won't do it. Let's let's see what happens when you scale that up. When you when you go fractal on its ass and go into a corporate setting. MEI Pharma, a Nasdaq listed pharmaceutical company, has acquired a whole shit ton of Litecoin tokens for a $100,000,000, becoming the first US listed firm to adopt Litecoin as its primary treasury reserve asset. Okay. So first, we we start out with a copycat. Right? We're gonna do what these other companies are doing, but we're gonna use another asset.
The tokens were purchased at at an average price of a $107 between July 30 and August 4. At current market prices of around a $124, the LTC treasury is now valued at about a $115,000,000. Litecoin is the twenty fourth largest cryptocurrency by market capitalization. The purchase was fully funded through a $100,000,000 private placement closed last month with Litecoin creator Charlie Lee and crypto trading firm GSR acting as lead investors. Lee has joined MEI's board of directors, replacing Tahir Datu, and GSR has been appointed as the company's treasury asset manager.
God, this almost sounds like a a cancerous invasion, honestly. Other investors include the Litecoin Foundation, Parify, Hivemind, Primitive, RLH Capital, and Delta Blockchain. MEI said its treasury strategy focuses on Litecoin due to its thirteen year record of uninterrupted uptime, low fees, and fast settlement. The company also cited Litecoin's integration into platforms like BitPay, PayPal, and Robinhood as validation of its utility. So there's there's the there's the cope, c o p e. There's the coping mechanism. So remember, you know, you got you got the guy on the street buying Cardano.
We're trying to tell him not to. And what what do they do? They cope. They give a reasoning for their for their incessant shit coinery. Continuing, the company may expand its strategy to include Litecoin mining. Yes. Litecoin is mined just like Bitcoin. And other initiatives. MEI continues to operate its drug development pipeline, including vorucilciclib, an experimental treatment being developed for, of course, cancer, because that's what everybody develops for, and anticipates commencing further investigational research and development in the next several months. Titan Partners Group, a division of American Capital Partners, acted as the sole placement agent in the deal.
Legal advisers were Morgan Lewis and Bakkes LLP for MEI and Lukoski Brockman LLP for the placement agent, MEI joins a growing number of public companies adopting crypto treasury strategies. This is nothing but corporate shit coinery. It is the exact same thing and it follows the exact same pattern as individual shit coinery it's the exact same thing see this this is why it's important to look at the stuff that you don't wanna look at. We're going to see a whole bunch of this. It's going yes. Alt season is upon us. And if you don't know what alt season is, it's just this time of the cycle where altcoins start following Bitcoin's lead, and then you get all the influencers out there telling you that Bitcoin is dead. And we rinse and repeat over and over and over and over and over again. We are now in the part of the of this cycle where we're graduating from being single shitcoiners and going to the corporate level.
It is fractal in nature where a single pattern ends up making a much larger pattern that looks like the same pattern as the original pattern. If you don't really know what I mean, just search use whatever search engine you want and say show me a fractal. Explain a fractal to me. It's it's not a hard concept. The mathematics behind it is something you probably don't want to get into, but you can look at pretty pictures and go, oh, oh, okay. It's fractal and everything in nature is fractal. The same pattern of the way that that your lungs look like the little air passages in your lung looks like the veins of a leaf on a tree because that particular pattern provides a lot of surface area that can service a lot of volume.
It is a bifurcating type of pattern. That bifurcation where one becomes two and then those two go on and then those become like each one of those become two. So you got four and then eight and then 16. And it just looks like the just look at any leaf on a tree and you will discover the miracle that is bifurcation. It's a natural pattern. And it does not surprise me that we are now scaling that pattern up from a single individual moron to corporate moronship. Congratulations, MEI. You've you've done it. But they weren't the first. They weren't the first corporate treasury to get into corporate level morality and shit coinery because we've got Sharplink.
And there's a very good reason I'm going to present you with this story as well. Yes. It is a shitcoin company, but it presents a different kind of pattern. Ethereum treasury company, Sharplink, has added $265,000,000 of shitcoin number one to its holdings out of Decrypt, written by Matt DeSalvo, who I'm sure probably needs a bar of soap miner soap to get the scum off of him after writing this thing. Ethereum treasury Sharplink Gaming bought $264,500,000 in Ethereum last week. The Minneapolis, Minnesota based firm's holdings have grown to 521,939 of the digital coin now worth nearly 1,900,000,000.0 after it bought 83,000 ETH between July 28 and the August 3.
Publicly traded Sharplink was trading less than 1% higher on Tuesday at nearly $19 a share. Sharplink stock has shot up by over 420. It's a 420% since the May when it was trading for less than $4 a share. Sharplink could not be reached for comment. I don't know. Maybe Sharplink and the Shitcoin people were out to lunch. Who knows? But Sharplink, which pivoted its focus from marketing, first announced that it had raised 425,000,000 to establish an Ethereum treasury in May. And since then I know I know you're, like, you're freaking out that I'm saying Ethereum so much. I got a point. But to be fair to the article, I gotta read it. Right? I can't just interpret it for you because then you're depending on me to tell you what this thing says. This is why I read the articles.
Since then, it has bought more digital coins at the price of the second biggest cryptocurrency by market value or as the price has risen. In July alone, Sharpenck spent $780,000,000 on ETH. And then they do talk about the ETH price, which I do not give a shit about, and then they talk about other publicly traded companies, which I do not give a shit about. And then, of course, everybody compares themselves to strategy. Well, that's that now that's the end of the article because that stuff, honestly, you don't need to know that Bitcoin and Ethereum, there are people who are buying Bitcoin and Ethereum and as well as altcoins like Solana and XRP.
It's it's okay. At this point, I think it's okay for me to say, trust me, you don't need a market recap of the Ethereum price performance. We we don't need it. So who's Sharplink? Sharplink is a company that is headed the chairman is Joseph Lubin. And you go, well, I don't give a shit. Who's Joseph Lubin? He's the co creator of Ethereum. Automatically, the red flag should be raised. The red flag should be raised in your head. So Joseph Lubin, who co created, Ethereum, and he's said on occasion that he doesn't like to be referred to as the co creator of Ethereum, but he did. He may not have been sitting there coding it alongside Vitalik Buterin and his little band of merry men, but he was responsible for for the release of this absolute piece of crap upon the world, and we can't get rid of it.
So he goes and he becomes the chairman of the board at Sharplink. And then all of a sudden, Sharplink starts buying Ethereum. That's a conflict of interest. I'm sorry, but it is. He's for he's come in. He stepped in as chairman of the board of Sharplink, and he has basically determined that you're going to eat my dog food. So therefore, you're going to have to buy my dog food. Therefore, you're pumping my bags. So he's using a company to force the price of Ethereum higher. And and I'm going to actually give him the benefit of the doubt and say that he's not trying to pump his own bags. He's got enough money. He doesn't need any more money. He's got more money than he knows how to spend in a lifetime. Right?
He just doesn't want Ethereum to die. And ever since, Sharp Link and a couple of other companies have been buying Ethereum, the Ethereum price to Bitcoin price ratio is starting to extend above the level of being in a sewer, which it was been in has been in for months and months and months and months and months. I won't get into it, but the opportunity cost borne by those that hold that particular shit coin is eye watering in scope. The amount of Bitcoin that they could have had but didn't buy because they were holding on to this shit coin is just it's staggering and it makes me sad. However, that ratio is starting to actually rise. It's up above was it point zero zero three zero is basically the line that that that it's been under as a ratio for a a while, which means if you try to figure that out, its performance against Bitcoin is not good at at like, it hasn't ever really been all that good. It's just that it's starting to have a dead cat bounce.
And it's because people like Joseph Lubin are talking people into spending their real money on this shit coin. So instead of going directly to retail, which was the original pattern of getting rid of your shitcoin and having your bags pumped or protecting your stake or whatever your reasoning is, instead of going to the little guy on the street that can't afford to lose much money, he's going to companies and stepping in as chairman and forcing them to buy this shit coin. This is another example of the scaling up of human greed in the absence of any ethical pattern whatsoever.
Joseph Lubin should be ashamed of himself, but I guarantee you, he goes to sleep at night and probably rest his head on a pillow full of money. Right? He's sleeping just fine. He doesn't care. He just doesn't care. MEI is going to pay the price for this sooner rather than later probably, but eventually, and it's gonna be ugly. Or, actually, no. Not MEI is also going to to have a problem because they're holding Litecoin. This is SharpLink. They're going to have a problem because because they're holding this this Ethereum. So Charlie Lee is stepping in, and he's getting MEI to buy Litecoin. Joseph Lubin, the cocreator of the very shit coin that he's forcing Sharp Link to buy.
Do you see it? This pattern goes on and on and on. What's the next stop? Full banks. The stop after that, full blown governments. I mean, I wish I could I could think of where the buck stops after that, but honestly, I I I can't really, except for, you know, go go back to selling individuals this this garbage. Those individuals would be those individuals that are always unnamed, that are in control, that are always behind the scenes, that are somehow or another, like, you say, oh, we know George Soros and David Attenborough and was was it, like, what did some of these other, like, famous families? You know? There's there's people behind them whose names you don't know.
Yeah. So that I I guess that would be the final resting place of being able to shield somebody your shit coin. Don't fall for it, man. Don't fall for it. And it gets even worse. This time, we're gonna talk about a mechanism of why this is going to get so much worse. It's almost as if they've automated dumping crap on retail as the actual human beings step it up and go to corporate shitcoinery because AI bot named Clanker racks up $34,000,000 in swap fees launching base meme coins. This is gonna be really sad, and you're really going to have to watch yourself, people. Adrian Zmutsky for Cointelegraph finishes us off on this shitcoin trail.
Clanker, a decentralized application built around an artificial intelligence agent that creates meme coins based on prompts, has generated over $34,400,000 in fees according to blockchain data, according to the clinker fees Dune data dashboard. The liquidity pool fees earned by clinker have reached $34,400,000, and the daily fees, the fees made every day peaked on November at $1,100,000 earned in a single day. Clanker's official website shows 355,000 live clankers, and that's referring to the tokens deployed through its AI agent. It also showed an ecosystem market cap of a 172,300,000.0 and that 34,400,000.0 of creator fees were earned through it. Quote, Clanker is an AI that launches crypto tokens for you.
Repeat that. Clanker is an AI that launches crypto tokens for you, the website explains. Give it a name and a symbol, and it handles deployment, market creation, and fee sharing auto magically. Planker's token explanation page promises token creators that they will earn 1% fees on decentralized exchange liquidity pool trades. The site also promises that users do not need crypto knowledge and only need to provide token details. Launching a token could be as little as tagging the at clinker bot on the Farcaster x alternative or interacting with the clinker website.
Developers have also or also have access to a dedicated software development kit. Oh, joy. A separate Dune data dashboard. So, excuse me, shows that the cumulative trading volume of tokens created with Clanker has reached nearly $3,480,000,000, and the volume peaked on 11/26/2024 when it reached almost $61,000,000. Clanker is currently at its fourth protocol version deployed in mid June. The latest version alone has been responsible for the deployment of 7,819 different tokens. Shamir Azeri, cofounder and CEO at Web three AI agent project ensemble, told CoinTelegraph that, quote, AI agents are starting to show up in basis on chain activity in meaningful ways.
He said that average clinker daily fees climbed from about 65,000 in June to 89,000 in July, which is a 37% increase. Quote, this growth comes from agents becoming easier to use and more trusted, Ozzeri said, and he explained that such agents abstract away the complexity of decentralized finance and, quote, helps users make better decisions without needing to understand the technical details. Big red flag. Azeri said that most of the AI agent growth on base involves trading and DeFi focused agents such as Bankr. B a n k r is a AI interface for the DeFi ecosystem enabling users to instruct the agent to perform trades.
The bridge asset or and bridge assets between chains and more on their behalf. This growth, according to Azeri, suggests agents aren't just a future concept but are already contributing to network usage. It's early, but it points to a shift where agents are becoming active economic participants on chain rather than just experimental demonstrations. That's the end of the article, but it should not be the end of you thinking about how to stay away from this crap. It's going to get bad. We're we're talking about an AI that just goes out and makes different tokens. 355,000 different shit coins full shit okay well okay they're not full shit coins because a true shit coin has got a blockchain behind it Tokens, not so much. It's a little it's it's different. Right? But no there's not enough people that know the difference that will be able to stop or stem the tide of retail thinking that they're buying something of value.
355,000 different ones. I'm not talking about one kind of token like like I don't know pill token from MEI pharmaceutical has like a volume or not a volume but like a 355,000 coins. No. These are completely separate tokens. Each one of them has, like, I don't know, thousands, 10,000, 100,000, millions of tokens behind it. And there's 355,000. And, like, almost a quarter of those were generated, like, over the last few months. And it's going to get worse and worse and worse and worse and worse. And it's going to prey upon the the greed and the fear of humans until it completely eviscerates any potential wealth anywhere in the world from anybody who is even remotely ignorant about what Bitcoin is. It's a full blown attack on Bitcoin.
We've seen it before. We've weathered it before. We survived them before. We've won them before. It's just another one. Not saying that, woah, hair on fire, let's go run around in a circle out in the street and scream. No. No. No. But do be aware that this shit's gonna get terrible because now you don't even have to work at it. You can just sit behind a computer and say, I think I want to spend up 10,000 different tokens today. Hey, AI agent, why don't you get that shit done for me while I go sit on the toilet and, I don't know, look at Instagram. And some poor dumb son of a bitch in South Korea is gonna go, dude, this token's got a great emblem.
Look at the iconography. I want that. That token's gonna be worth something. It's all so tiresome. It really is. It's gonna be up to you to warn your family and your friends that this clanker, and it won't be the last, it's not just gonna be clanker, is just designed to take their money and transfer it to somebody else. We've we've we had to do this by hand back in the day of Litecoin and Dogecoin, the the rise of Ethereum where we were warning people, you don't wanna hold this shit. But at least in those cases, people had to sit behind computers and actually, I don't know, write code, come up with white papers that that while plagiarizing other white papers made a kind of sense to retail so that retail would be dumb enough to give them their money.
It makes me sad. It it really does that nobody is ever going that that a majority of humanity is just never going to be able to learn the fundamental lesson of not getting fooled into giving somebody else your money. I hope you're not one of them. Protect yourself. Gird your loins. It's coming fast, and it's gonna get faster. I'll see you on the other side. This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
Introduction and Episode Overview
Comfrey Owner's Manual Announcement
