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00:00 Congratulations to the BMBB team. >> I congratulate Sergey and all the Chainlink team. >> The anthropic business is there is that risk eventually that open source gets good enough that you can take anthropic out. >> Something very interesting is happening in crypto this week. You see, while Bitcoin slips under $80,000 as traders derisk ahead of the Fed meeting, here's what's actually happening in crypto that affects you finding the signal through the noise.
00:24 Click subscribe to Altcoin Daily for one video per day, keeping you informed. And while yes, the Fed meeting is happening again this Wednesday, the data tells us that the highest probability, actually a 89.5% probability that the Fed will keep rates the same. 10.5% they hike, but practically 90% nothing changes. So, what's the actual reason the crypto market is going through a shakeout?
00:52 because it's probably unless something really drastic changes, the Fed meeting is probably going to be a nothing burger. Well, it's because there's much bigger whale dynamics at play. For example, practically the entire market cap of Ethereum, the second largest crypto globally, got wiped out today. Now, that's a metaphor because it was the Brazilian the amount of money that came out of the Brazilian market cap.
01:17 Brazil's stock market absolutely collapsing near 30%. That's over $200 billion gone. As well as the Brazilian realale, their currency, losing 10% of their value after President Lula Dilva is unexpectedly reelected for the fourth consecutive term. Brazil's stock market has lost over $200 billion of market cap today. How big? Just how big is $200 billion?
01:44 It's really nothing in the global economy, but that would be the almost the entire market cap of Ethereum if you did the equivalent. Ethereum's market cap is $280 billion. Meaning obviously shakeups like this are going to scare the market. That money has to go somewhere. And in this case, the vast majority went back into US stocks. This should be a signal to you one just how small the crypto market actually is.
02:09 And if slash when some of that money starts to allocate into decentralized censorship resistant that the the new asset class of the global economy the crypto market can absorb money can pump just as quick. Also fundamentals for crypto are getting better. $1.8 trillion Franklin Templeton plans to launch US stock ETFs that automatically use stock dividends to buy Bitcoin.
02:39 Meaning as your favorite stocks make money, why not reinvest that profit not into US dollars which are always losing value but Bitcoin which is a hardcapped asset. Franklin Templeton through their filing is targeting a 5% BTCA allocation. Meaning to me the significance to me is this is just another example of Bitcoin and crypto seeping in to the traditional plumbing.
03:08 Also, if you hold Binancecoin BNB, you love this BNB on the NASDAQ in New York City today as Shangpang Sao CZ himself rings the NASDAQ bell for a new BNB treasury company that I guess is being listed on NASDAQ. >> We launched BNB in 2017, nine years ago, as a very simple token. It didn't even have its own blockchain. And nine years later, I did not honestly did not expect that nine years later we'll be here at the NASDAQ opening bell.
03:37 So that's quite an achievement. Um today BNB chain powers 30 million people every month and every day more than three million people use BNB chain. Um is the is actually the most uh active blockchain in the world and is also the highest liquidity for real world real world assets RWAS. And this should be a signal to you that as crypto in general gets institutionalized, BNB is in the yes category.
04:06 There are many cryptos on the no category, but as crypto gets institutionalized, the institutions, I would say put BNB in the yes column. Also, as you know, you can always subscribe to Altcoin Daily for as best we can an unbiased view on the market, where it's headed, what's the data, and my stats tell me that Ethereum is still number one with RWAS.
04:27 It goes Ethereum, BNB, Solana, and Stellar. BNB is a close second to Ethereum at the time of recording. And very big moment for centralized AI. AI giant Anthropic files for Blockbuster IPO. So, the maker of Claude reported 16.3 billion in first half revenue and 80.7 billion net loss as it aims to price its offering in mid November, meaning they are losing at the moment much more money than they're making.
05:00 And this IPO appears to be moving forward, although they could always pull it, but it appears to be moving forward in mid- November. I'm looking at the anthropic price right now, preIPO trading, and whether you want to long the price into the IPO or short the price into the IPO. All can be done on decentralized exchange liquid trade. I mean, if we switch over to the day chart, we see that the price of current anthropic shares tanked on the news.
05:30 Liquid Exchange is an exchange partner of the channel. I personally like trading on them because again they're non-custodial so they'll never take your coins. You are in control of your assets and two it's decentralized meaning it's open at night. It's open on the weekends. You can trade crypto preIPO companies the regular stock market. Anybody that wants to trade with me check out follow the price of anthropic as it goes into IPO mid November.
05:56 I'll put a link down below and sign up with my referral link and get 10% off fees for life. So again, I will be keeping tabs on the anthropic price and the anthropic IPO into mid- November. Maybe this does suck liquidity a little bit longer out of the crypto market. But either way, we can make money in all markets because if AI continues to thrive and crypto stagnates a little more, I would choose an exchange that allows you to have access to them all.
06:24 And just to give you all the perspective so you have all the information, Anthropic's valuation is 1.5 trillion. Walmart's valuation is only 960 billion. Yet Anthropics revenue is about 16.3 billion and Walmart's revenue is 365 billion. Anthropic's valuation is ve pric priced pretty highly in my opinion based on revenue but you are betting on the future of AI.
06:54 Founder of anthropic himself Daario has spoken about the one thing that may kill anthropic or just kill these centralized big centralized AI players to me about when it comes to the anthropic business is there is that risk eventually that open source gets good enough that you can take anthropic out and put open source in. >> Yeah. So, you know, people have I you know, I think one of the things that's been true of this industry, >> Daario basically goes on to say that it's not decentralized or centralized.
07:23 It's are you producing real value, real product, real revenue. If you have a real business, then whichever side of the coin you on are on will win because that's what's important. And just to sort of put this into perspective, if we look at the value of one of the blue chips of decentralized AI, Bit Tensor, currently valued at about 2.8 8 billion versus what Anthropic would be valued at is $1.5 trillion.
07:46 So Anthropic's valued at basically the market cap of Bitcoin. Decentralized AI Bitensor much much much better or cheaper value and the early stage companies the subnets on Bitensor are producing real revenue. Bitensor product revenue grew by 40% that was this was last month. Now $50 million ARR the AI products produced by BitTensor subnets are getting paying customers meaning real use real value and it's growing and I do believe that revenue has been and will continue to be one of the strongest narratives this year
08:22 into next year for crypto who is producing the most revenue well it's hyperlquid it's pump it's a up there unis swap up there as well but it's bit tensor one of the decentralized AI companies producing the most revenue at a much much better valuation than Anthropic. And not that they're the same. Not that Anthropic for the products they put out, they deserve to be much higher than Bitensor.
08:48 Bitensor is early stage company, earlier stage company, but this whole space is growing. And I think decentralized AI will continue to solidify and grow its peace. And big show of support from United States Senator of West Virginia Jim Justice. He puts out a statement that America should lead the world in digital assets. And it appears he's throwing his support to chain link.
09:09 This is this this guy I think works for Chainlink in some way because he gets in the data. But just listen to Congress supporting certain protocols that signal. >> I'm Senator Jim Justice and I've got with me a great friend of Raj and Baby Dog. I congratulate Sergey and all the Chainlink team. What an incredible incredible conference I know you're having.
09:32 But with that, so much good that you're doing. So much good all across our land. And it's so so so important. You know, we got smart people. That's for sure. But you're the smartest of the smartest. And you're bringing us opportunity in life. You're bringing us to connect connecting financial markets that we have today, traditional financial markets that we have today with digital assets.
09:56 That's what it's all about. >> You know, Senator, it's incredible what Chandler's achieved. you know, they've put traditional financial markets and connected it to the blockchain uh technology that's out there and putting that together, they've done, I think, almost $40 trillion dollars in in in in volume. It means so much. I mean, if you just step back from this whole thing and just think all the advantages we need to absolutely be be perpetuating what we do and what we know.
10:23 With all that being said, I think we'll get there. You know, we still got some work to do, but Baby Dog and Raj and I, we're pulling hard and we're working really hard to make it a reality and everything. And so, so just hang with us and everything. And we're going to all run across the finish line together. >> If you've made it this far in today's video, click the like button.
10:42 It's completely free and I would really, really appreciate it. It helps me grow. And I do just want to clarify in my video I put out over the weekend, if you made it to the end, I offered 50% off an altcoin daily beanie for the first three people. A lot of you were putting the promo code just in the comment section, which doesn't count. You got to put the promo code that I gave at the end of this video.
11:06 You got to click the shop, you got to pick the beanie, and then you got to click through to the end and then put the promo code in, and then you'll instantly automatically get 50% off. Just a note, there's still some opportunities out there because not people didn't know that they had to click through the website. So, link down below.