URGENT! Crypto Investors Need To See This Before Monday! Transcript, AI Summary & Key Points

00:00 I do not know about you guys, I was having a  perfectly normal Sunday until all of a sudden I looked at my Twitter and everything that I saw  in my Twitter was all about Black Monday. I do not know if your Twitter looked like this, but it  says, "This Monday feels very black." And they were comparing it to Black Monday of 1987, which  is where the original Black Monday comes from, where the stock markets went down 22.6% in one  day on the 19th of October 1987.

00:17 And that is pretty much what I got. I got this apparently  Black Monday is trending. The last thing Trump needs right now before the midterms is an  AI meltdown. I saw these tweets. Apparently, Black Monday is coming. According to X, we will  see tomorrow. Dow down. The Dow was down 22.6%. The NASDAQ was down 11.3%. So, yes, lots of calls  for a Black Monday.

00:40 So, I thought I would have to check what this whole Black Monday thing is  actually about. And what people are actually referring to is they are referring to something,  believe it or not, that happened in crypto. Like, believe it or not, the blame for Black Monday has  something to do with what happened in crypto. And I am going to break that down for you today.

01:00 So guys, yeah, Black Monday, can you believe it? I mean, when I saw it, I was like, "What the  heck? Black Monday now? Really? Seriously, is this what is going to happen?" It would not be unusual  because we do expect a correction somewhere before the midterms usually. So, we do expect a market  correction usually before the midterms. And so, you know, the midterms are not very far away.

01:21 They  are about 3 weeks away. So, the midterms are now 3 weeks away. We still have not had the market  corrections. The market is still, you could say, pretty much at all-time highs, although the  NASDAQ did have a very bad day or a very bad week last week. So, if you look at the NASDAQ  last week, the NASDAQ was down about 6.7%. So, what is this Black Monday thing?

01:38 Why is it on our  timelines? Is there anything to be worried about? Is there an opportunity? That is what we are  going to be talking about today on a Sunday. If you are here, smash the like button. Let me know  that you are actually here. Let me know that you are actually here. Also, I will leave a video for  you guys to watch. There is something that I think you guys should watch.

01:54 In fact, I will leave you  two. But the one video that you really, really, really must watch is this video that I did with  Dan Tapiero on Crypto Insider. Dan Tapiero is one of, I think, one of the most astute investors of  our times. Go and watch that video. You can see the video is actually flying, but you must watch  that video before the end of the weekend.

02:09 Yeah, you must watch it this weekend, otherwise leave  me a like. Let me explain to you what is actually going on here. If you are not already subscribed  to the channel, subscribe to the channel. Yeah, I come to you every time that there is  something to talk about. I come to you every day usually and sometimes twice, and with  the Crypto Insider channel.

02:25 That is the channel if you are looking for more institutional-style  content. So, it is not daily content. It is content that is more institutional in nature.  You know, less daily calls and stuff like that, more broader view macro stuff. You must  go and check that channel out. Anyway, let us talk about this Black Monday thing. So,  where did it come from?

02:46 Well, as I said to you, it actually came from crypto, believe it or not.  So, why did it come from crypto? Because you know that stock markets close on Sundays, right? And  what happened was the stock markets closed on Sundays. The problem is that cryptos are open on  Sundays and we are now trading digital stocks. So, we are trading tokenized stocks, right?

03:04 And  so, what you can see is that over the weekend, these tokens started to plunge like 3, 4, 5%.  So for example, if you look at, for example, let us look at SanDisk Corporation, right? So if  you look at where it closed on the stock market on Friday, it closed at 1299, right? That is where  it closed on Friday. But if you look at what it is currently quoted on the after-hours on the crypto  exchanges, it is quoted at 1258, right?

03:29 So if I go to, for example, if I go to Hyperliquid and I go  to SanDisk, you will see it is probably the same, 1259, right? So you can see that we have got these  Variational and we have got Binance allowing us to trade stocks after hours. Now, when these stocks  close at a certain price on Friday, so they closed at 1299 and then you look at Variational trading  at 1258.

03:54 That is a 3% move. Now, for a tech stock, a 3% move is a massive, massive, massive move.  And it is not the only one. If you look at Micron, right? So, Micron closed on Friday at $878. But  if you look at what it is quoted on Variational, it is at $860. That is 2 and a bit percent down  over the weekend. So, these guys are just not used to 24-hour trading.

04:18 Here you have got all  these stocks trading on crypto exchanges. So, let us look at Coreweave because I think  Coreweave is the main culprit here. Coreweave trading at right now $60 on  Hyperliquid. If you look at Variational, if you look at Coreweave, CRV, Coreweave, trading  at $60. And if you look at where it was on Friday, it was 2 and a half percent higher.

04:43 It was 6139.  So this tweet kind of sums it up. It says, you know, a few hours ago, we saw a sudden crash in  TradFi that started on Binance. Bitcoin, Ethereum suddenly dumped while all major AI-related stocks  plunged 5% within seconds. So, welcome to crypto, guys, and welcome to being listed on Binance. You  want to list your stocks on Binance. You have got to get used to volatility specifically in the low  volume, low liquidity weekends.

05:03 Enjoy your stay. That is what basically happens here, right? And  that is basically what is happening. Now, look, this could be the canary in the coal mine because  there actually is a problem in crypto and in AI, and that is why the NASDAQ had such a rough week  last week. So just to put into perspective for you, the NASDAQ went down 6.36% last week.

05:26 So if you look at the weekly candle, quite a brutal weekly candle over there, down 6.36%  last week, and that if you put into perspective, just to give you some perspective, so it was  down 5.5 before the futures closed. It is 7% down from its all-time high. So it is still  7% down from its all-time high. And that is the lowest level since April 2025.

05:50 Now, just to  remind you, April 2025 was Trump tariff weekend, right? That was Trump tariff weekend. So, you had  the NASDAQ that had a 7% down week last week. You have got fear and greed in the stock market at  about 18. You have got the volatility index, the VIX, which spiked to 22. I will give you some  perspective around the VIX in a couple of seconds, but it is back down to 20.

06:18 So I think maybe now  is a good time to look at, and this is the Goldman Sachs panic index, right? The Goldman Sachs  panic index spiked to a plus three sigma move on Friday. So Friday was a very, very, very scary  day in the markets. Now let us talk about why the markets were scared on Friday. The markets are  getting scared because there is an AI collapse which is taking, which is happening under the  hood, under the covers.

06:41 Right? So what do I mean by an AI collapse? The problem is that when you  look at the markets, when you look at the NASDAQ, you do not see it. And the reason why you do not  see it is because the NASDAQ is so made up or so the returns of the NASDAQ happen from such a small  number of stocks like Nvidia and Amazon, etcetera, etcetera. In fact, researchers, if you could send  me that chart that shows the percentage of returns that are in the NASDAQ, like what the NASDAQ  returns are made up of, that would be amazing.

07:13 But those big stocks have not yet collapsed or  have not collapsed. Maybe I will not say yet because maybe they will not collapse, even though  my thesis is that they probably will collapse, right? So those stocks, the big stocks, have  not collapsed. But the problem is that when you look under the cover specifically at the  AI build stocks, those stocks are having a massive collapse.

07:33 So for example, if you look at  Coreweave, Coreweave from its high is down 68.04%. If you look at Nebius, Nebius is down 45%  from its high, right? If you look at Oracle, Oracle is down 63% from the high. So, you  have got all these AI stocks which are basically collapsing. And the thing is that if  you look at what these stocks all have in common, these are stocks that all effectively build  the AI infrastructure, the AI infrastructure, right?

08:05 So whether they are energy companies  or memory companies or data center companies, these are companies that build the infrastructure  that is required to build the AI infrastructure. What the heck is Coreweave exactly? You know it is  not a crypto. It is, believe it or not, one of the fundamental AI data center buildout companies that  is out there.

08:21 And so what is basically happening is all these companies that are responsible  or need to create infrastructure or need CapEx to basically get their growth, or are reliant on  CapEx to get their growth, are basically crashing, right? So the question then becomes, why are they  crashing? And the answer becomes pretty simple, right? The reason why these companies are crashing  is because the interest rates are going up.

08:48 So you know we are looking at, well, now hopefully no  interest rate hike in the next interest rate. But in general, interest rates are going up. So if you  look at the US, the 10-year yield has gone from 4% to 5%. That might sound like a lot, but what that  means is that the government is paying 25% more to borrow now than it was spending in February this  year.

09:16 Okay? Now, if the government is spending 25% more to borrow, right? Because this is the  10-year rate, is the rate at which investors will loan money to the US government, right? That means  that if they are loaning it to a private company, this basically means the risk-free rate of lending  because if you lend to the government, you assume that it is, you can call it risk-free, right?

09:40 Like  risk-free. Okay? Because you assume the government is not going to default on its debt because it  can just carry on printing money. So, it probably will not default on its debt, right? The thing is  that if it has become 29% more expensive for the government to borrow, it has also become 29% or  more expensive for the AI companies to borrow as well.

09:59 Right? And that is exactly what is going on  right now. As the interest rates are going up, the problem is that these guys need a lot of capital.  And where do they get the capital from? They get it from the debt market. Now, all of a sudden,  they are paying 30% more to borrow to build out the data centers, right? And as a result, what  you are seeing is that this thing called a credit default risk.

10:21 Now, what is a credit default risk?  A credit default risk is the price that people are paying or the probability that you are going to go  insolvent. In other words, the price that people are paying for insurance that these companies will  not be able to pay back their debt or basically will shut down. And what you can see is that the  price that these companies, the price of that insurance, which is called the credit default  swap.

10:44 Credit default swap meaning they will default on their credit. The price that people are  paying is basically shooting up. Right? So if you look at all the hyperscalers and all the companies  that require all this investment, well, the probabilities and the price that people are paying  for the insurance as if they are going to go under basically has increased a lot to the point where  it is actually like these people are thinking these companies may basically go under.

11:11 Not only  that, but the price that people are paying for the debt. So look at Coreweave right now. They  issued a bond which is a 9.75% bond, right? In other words, it was issued at a yield of 9.75.  That yield spiked to 15%. In other words, when they priced it, the market bought it for 9%. But  today, the market is paying 15%. In other words, no one wants this bond.

11:37 And in order to buy this  bond, you need to offer them 15%, right? Which I think is a very good deal. We will talk about why  I think it is such a good deal. I mean, if you buy this, you are basically getting 15% a year if  Coreweave basically survives. So very important. So what is going on? Long story short, this is  about debt. This is about the market worried that these companies will not be able to pay their  debt.

12:02 Why? Because interest rates are going up. Now, let me show you what the All-In podcast had  to say about this. This is what Coreweave does as a business. Listen carefully to what they do  so that you understand it. That is something that you guys specialize in. I am going to try  to explain this in a way people can understand. So we go out and we find a client.

12:21 Let us  use Microsoft. You brought them up before, right? And Microsoft comes to us and says, "We  would like to buy some compute." And we say, "Okay, great. We are going to sign a contract."  Once I have a contract in hand, then what I do is I create something. It is not a particularly  creative name. It is called the box. Yeah. Right. And what I do with the box is I take my contract  with Microsoft and I put it in the box.

12:38 I go to Jensen and I buy the GPUs. I put it in the box. I  take my data center contract, I put it in the box, and now the box governs cash flow and it has a  waterfall of cash flow that comes into it and goes out of it. And so the way it works is then I  build the compute and then I deliver the compute to Microsoft and they pay the box. They do not pay  me.

13:01 It goes into the box and the first thing it does is it pays the data center. It pays the power  bill. It pays the interest and the principal and then whatever is left flows back to us. What is  important to understand is the economics in this box are such that within two and a half years of a  5-year deal, we have paid for everything. They do not cross-pollinate.

13:26 They do not cause contagion  across the boxes. They are all independent and discreet. As you do this and as you show the  lenders how this financing tool and how this financing mechanism works, what they do is they  continue to lend you money at progressively lower rates. So very, very, very smart. How  they basically finance these builds is they go and take a specific contract.

13:49 They put that  specific contract into a box with all the power requirements, all the hardware requirements, all  the software requirements, and they basically go and finance the individual box. Very, very, very  smart. Why? Because it does not create contagion, right? Basically, one box goes under, all the,  well, you hope that all the boxes do not end up going under at the same time.

14:07 Let me show you what  Chamath says about what is going on at the moment because I think it is actually pretty important.  Always look at is how the sharps, the super smart money, prices risk. And when you are dealing  with companies like Coreweave or Nebius or Iran, etcetera, that have to borrow a lot to fund these  boxes. The smart money is trading what is called a credit derivative swap.

14:36 Okay, this is default  insurance, and these default swaps are meant to insure the bondholders against a potential  default. That risk spiked this week to about 953 basis points, which it does not matter what that  number is, but as an imputed risk, it is about a 16% chance of a default in any given year. And  over a 5-year duration, what that math implies is about a 55% chance of a default.

15:09 So, it is a  coin flip whether they default or not. That is not what I am saying. That is what the insurance  market was saying about their debt. And I think that is something to look into because those guys  I think are the smartest money in all of this. So why did they do this? I started to dig into it,  and here is a couple of charts that explains a little bit of what I learned.

15:33 Okay, so the first  thing is just a market check. You know, we have talked about this, but we have a problem in the  United States, which is that the US is moving the risk-free rate higher and higher. Who is doing  that? These are the central bankers. These are the bond vigilantes. These are the people that say  because of inflation or other long-term risks that are not getting put out of the system, we need  to get paid a lot more money to own the safest riskless asset.

16:03 As that goes up. Basic way to  think about that is as the 10-year bond goes up, everything else goes up. And so this black line  represents the average price that you have to pay for junk debt. And what you see is that as  the 10-year went up and people are like, man, the risk-free rate is going up, the junkiest junk  bonds need to pay more and more and more.

16:22 And then the purple line here is what Coreweave has to pay.  And what you see is that it also has started to tick up and has moved up relatively violently. And  so the question is why has it done that? Okay, so let us go to the next chart. Michael is right that  he is in the business of creating these boxes and then putting in contracts and GPUs, but he also  needs to put money in those boxes.

16:46 And the way that he puts the money in the box is he has to go  out and borrow that money. So he goes to a lender and says, "Give me the money and I will pay you  that back plus some interest." What you see here is what is inside of the box effectively. So the  gray bar is how much money he is guaranteed to get into the box. These are all the deals he sold to  all of his customers.

17:13 These are contracts. Yeah, these are contracts. Now, and it is important to  note because I will get to this in a second. It turns out that these contracts are fixed price.  So meaning if what you could sell in the spot market goes up, you do not really generate that  revenue because you have already pre-sold it at a fixed number. So Michael creates the box, he  gets a long-term contract, which is great because you have certainty around the revenues you are  getting, but he sells that.

17:39 Then he goes and has to finance it. And then some of that financing  comes due. He has got some bonds that are due and some loans that are due. What this basically  says is at the midpoint he has to raise another $35 billion of debt to get all of the contracts  that he signed financed, right? All the boxes financed and up and running. So he has about  35 billion of debt.

18:04 He needs to raise another 35 billion of debt. But as you saw in the chart  before, that is ticking up. And that has nothing to do with him. It is because the broader market  is essentially saying the risk-free rate goes up. Everybody has to pay more because your spread  above the risk-free rate has to track with it. Okay. So today across all the different pockets of  money in which that they have used to fund those boxes, their average interest rate that they pay  is about 8.5%.

18:31 The problem is that in this last little while, the sharps basically said, "Hold  on, this is getting too close to the knife's edge. You are going to have to pay more interest."  That is what I tweeted, which was just, you know, one of the sleeves of interest. This is the GPU  loan DDTL 1.0 spiked to 15%. The problem is that could theoretically now be the rate that they  have to pay for all of the future.

19:01 And remember, so basically as the interest rates go up, it  is costing them more and more to finance these data centers. And that is basically slows down  the whole thing. And that is basically what the market is basically panicking about. And it is not  only them. It is like Oracle as well. So if you look at Oracle, Oracle was one of the darlings  of the cycle, but because they went so heavy into investing in data centers, that is basically  what their chart looks like at the moment, right?

19:27 So you can basically see that the more capital  infrastructure that we need, the more capital infrastructure you invest in, the more the market  is punishing you. And the market is punishing you primarily because interest rates are going up.  Like if you want to call a spade a spade, this is basically happening because of the Iran war. I  hate to say it, but one of the reasons or one of the big reasons is because the Iran war basically  pushed up inflation and inflation started to go up.

19:55 The market started to increase interest  rates, be it via the Fed or be it via the credit, the 10-year or the 30-year rate. And therefore, it  is getting more expensive for these AI companies to fund their infrastructure. As a result, it is  slowing them down. It is basically slowing them down a lot, right? And you can see that is what  the market is basically worried about.

20:13 So the net effect of all of this is it becomes much harder  for these companies to start borrowing and we slow down the AI cycle, and as a result of that,  everything basically slows. So let me give you some examples of things that are going to slow.  The first thing is less energy will be consumed. The next thing is less construction will happen.  Therefore, there will be more unemployment because they are not going to have as many data centers  that are basically being built and everything basically starts to slow

20:41 because these companies  cannot borrow more money. Why? Because interest rates go up. Now, the truth is that if you look  at what the 10-year Treasury yields are basically doing. So, let us look at the US 10-year as on  Friday the market, or last week as the market started to collapse last week. Look what happened  to the 10-year Treasury. They started to drop.

21:02 And the same thing happened to the US 30-year  Treasury yields. And that just shows you that the market is doing exactly what it is supposed to  do, right? Why? Because as interest rates go up, they slow down the AI build. Slowing down the  AI build slows down inflation, right? And as it slows down inflation, so the 10-year becomes  more comfortable with the fact that it has actually managed to, it is doing its job.

21:19 Higher  interest rates mean higher to lend. Therefore, higher to lend means higher to borrow, higher to  lend, which means less companies will take loans, which means that the AI bubble will slowly,  slowly, slowly slow down or will start slowing down, and the economy will start slowing down, and  the market is doing exactly what it is supposed to do.

21:38 So, the Fed does not have to do it. So, the  market is doing it instead of the Fed. That is basically what is happening right now. So, the  question then becomes, is this actually, I mean, there are a couple of other things that I saw  going around. There was a Deepseek which basically said that it can have, that it has a much faster  and requiring less memory.

21:52 So Deepseek version 4, 0.75 per thousand calls versus OpenAI and  Anthropic $10 per thousand calls. Grok five $5 per thousand calls. So Deepseek becoming more  efficient. All of these are net positives in the long term, right? Like AI becoming more efficient  and cheaper is a net positive in the long term. We want this competition. This is like dialup  becoming internet, becoming broadband, becoming fiber, etcetera, etcetera.

22:22 We want this to happen  in the long term. This is like growing pains of an industry. We cannot be in an industry where it is  costing us, where the AI companies are basically funding our calls. Deepseek is actually making  it, we are going to get cheaper memory. We are going to get cheaper AI. That is exactly what  we want. That is the only way this technology actually rolls out.

22:42 I mean, then there were rumors  of another fund going down, a fund called Vara AI, which is another fund, $26.4 billion fund, blew  up, causing the market to dump. Long story short, you are going to hear all of these things when  there is a problem with AI. Here is my assessment of the whole thing. My assessment is that the  AI bubble is slowing down.

22:58 They had a massive, massive, massive year. And if you remember, when  they had that massive year, they sucked the money out of crypto and they sucked the money out  of Bitcoin. So, where did the money all go? Everything, all the money went into AI. Why did  the money go into AI? Because this is the returns that AI was basically giving people. Like this is  when Coreweave, when Coreweave was at 37 bucks.

23:17 It went up 400%. I will remind you about SanDisk. So  let us look at SanDisk. All of this went up. All of this went up. I mean, just look at how much  SanDisk actually moved. 7,000% since August 19, August 25. Right. So, long story short, this  trade was sucking money out of every single other market. This trade topped. It is now cooling  down. It is now cooling down because the interest rates are basically going up.

23:50 And the first thing  I looked at when I saw that these calls for Black Monday was I looked at crypto and crypto was  pretty stable, right? And the reason is because the money that was sucked into these AI companies  was being sucked out from every other market including property, including crypto, etcetera,  etcetera. Now, this trade is starting to cool down.

24:08 The best thing that is happening is that  it is being cooled down without the Fed having to increase interest rates because the 10-year  Treasury has basically done the job for it. So, in a nutshell, do I think there is going to be  a Black Monday? I do not really think there is going to be a Black Monday. Could the stocks  and the NASDAQ continue to come down?

24:22 Yes, probably it will continue to come down. Will it  all happen on Monday and will we get a negative 20%? I do not know. I do not think so. Right. The  good thing is that you can actually speculate on this. Right. Now, what do I mean by speculate  on this? Here is the opportunity, right? You know that those markets are closed on. If you  think tomorrow is going to be a Black Monday, go to Variational, go to Hyperliquid, go to  your preferred DEX and go short.

24:46 Right now, you can go up to 10x. You can go 10x. I mean, I  would not do 50x. You can go whatever you want, but you can go up to 50x. You can go 10x short  on Coreweave. Confirm. So, you can go 10x short. I will do this just for fun with you guys. Okay.  So, I am on Variational. You can see that I can choose any one of the assets that I basically  show you.

25:07 So SanDisk is also here. SanDisk. I am doing this for fun just to show you. So let  us take Coreweave and let us say that you think that it is going to crash. It is going to open  below 60. Now remember on Friday when this thing, when this thing closed, it closed in the market  at 6139. Let us say that on the weekend you think there is going to be a Black Monday.

25:31 No  problem. Go to Variational over here. By the way, the reason why I am using Variational, let me just  reiterate. Variational is the same as Hyperliquid. It is a DEX. It is a decentralized perpetuals  exchange. It allows you to trade crypto assets, normal assets, real-world assets with leverage,  and it is decentralized. So, it is not like you do not send your money to a Binance or  whatever else.

25:51 It is all decentralized. Now, the reason I usually use Hyperliquid, the reason  why I am using Variational is because I am getting a lot of points because they are still in their  airdrop. Their points are going to convert to tokens in Q4 this year, which means it is anytime  in the next 2 months, right? Their fees are zero, and every time I trade, I am accruing points.

26:11 I  will give you an example. Last week, I accrued 400 points for my trading, right? 400 points is, you  could probably say, I think it will open at about $100 a point. Like that is $40,000 in points from  doing this. Now you can do the same thing. Every time you take a trade at zero fees, you can  trade anything you want. You can trade crypto, etcetera.

26:32 But for example, if you think that this  is going to open down, go and buy yourself like I am going to buy, I do not know, 15 Coreweave. I  am going to short 15 Coreweave. Okay? So at 10x, again, I am doing it to show you. I do not have a  position on Coreweave. So I am going to go, I am going to sell 15 Coreweave at $60. That means that  I am expecting a Black Monday.

26:48 I am expecting this price. It was 6139. I am expecting it to open less  than 60. Where is that position? 60.23. So, let me quickly sell it. Bang. Okay, order completed.  I have sold it. Okay. So, you see now I have got a short position on that. Now, you can go long,  you can go short. If you think that this is all hot air and that this is just going to continue to  move up on Monday, then you can go long.

27:15 Just go to the market, go buy Coreweave. The main thing  is that you can now take a view on real-world assets like TradFi assets on the weekend from a  decentralized exchange. While you are doing it, you are basically earning points, right? So like  again, I probably, I do not know how many points I earned for that trade, but I have definitely  earned points for that trade.

27:34 So if you think there is going to be a Black Monday and you think  prices are going to open less than, like I do not know, SanDisk, SanDisk, here we go. That is  SanDisk. It is trading at 1258 and it closed on Monday at 1299. If you think it is going to open  less than 1258, then go short. If you think it is going to catch up just as like, if you think it  is all hot air and garbage, then just go long.

27:58 So, let me, I will show an example. So, I am going to  go long on 10x over here. Yeah, long 10x. Okay. So, I am going to go long. I am going to buy one  SanDisk because it is $1,000. I am going to buy one SanDisk. Okay. I am buying, I am buying it on  10x long. I am buying it right now. Bang. Now I am long one SanDisk. So if the market goes up and  goes back to normal, then I will make money on the Coreweave position.

28:27 If the market goes down,  I will end up making money. Right? You understand how it works, right? If you want to sign up  for this, sign up for the exchange. There is the link below. There is a link below. I think  that the most important thing is use the, the, the, hold on a second. Let us just quickly go  Crypto Banter. So there is a link here. Use the code Omniun when you sign up.

28:51 That means you will  get 15% more points. Right? So it is the highest points kicker in the industry. If you use the  code Omniun when you sign up, you get a 15% points boost. Okay? So just connect your wallet, go use  the code Omniun, you get a 15% points boost. You can go long, you can go short. You can trade these  things on weekends as well. So oil stocks.

29:07 So now, if you knew for a fact that this would be a Black  Monday, you would go to Variational. You would short these stocks. I mean, you could even short  the NASDAQ. So you can go NQ. I think NQ is the ticker. Let us just see which ticker they use  here in NASDAQ. I am not sure what the NASDAQ ticker is. S&P. Let us see. S&P 500. I am not sure  what the index, what the, yeah, here we go.

29:27 US S&P 500 per. Okay, you can go short or long on the  US S&P 500 per where it closed on Friday. You can go short, you can go long, etcetera, etcetera.  So again, why am I using Variational? They are going to do a billion-dollar airdrop. It is going  to be one of the biggest airdrops that there is. It has got all the real-world assets. It trades  on the weekends and it trades during the week, and I can take positions of whatever asset I want  with no fees.

29:55 So with no fees, and yeah, as you see now, I can go long, I can go short here. I  mean, let us watch these positions just for fun. Remember the SanDisk one says there is not a Black  Monday. The Coreweave one says that there is a Black Monday. Let us watch. And the other two are  just bad positions that I am nursing from crypto. But we will worry about those tomorrow when we  go back to do our crypto shows.

30:14 All right. So that is it for today. I just wanted to show you  all these fears of a Black Monday. See if there was anything real about them. Remember if you  want to trade until the market basically opens, which is in about six or seven hours, you can  go long, you can go short on Variational. There is a link below. Use it. Use the code Omniun.  You will get 15% point kicker.

30:35 This is going to be a billion-dollar airdrop. There are about  two more months left to farm the airdrop. So, you are farming and you will probably get your  airdrop before December. Otherwise, I will see you guys again tomorrow and hopefully it is not a  Black Monday. Until then, trade well, my friends.