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我喜欢夏天的一点是，一切都变得越来越轻松了。
One thing I love about summer is everything's just getting easier.
你待在户外的时间更多了。
You're outside more.
你去度假了，这时候根本不用费劲去搭配每一套衣服。
You're taking vacations, and it's the time where you're really not trying to overthink every outfit.
你只想要舒服、好穿，偶尔还带点酷感的东西。
You just want stuff that feels good, works, and sometimes is a little cool.
这就是我不断回头选Quince的原因。
That's why I keep coming back to Quince.
他们做的那些衣服，一整个夏天你都会不停地穿。
They make those pieces that you end up just wearing all season.
对我来说，就是那件100%欧洲亚麻衬衫和配套的亚麻长裤。
For me, it's the 100% European linen shirt and the matching linen pants.
这已经成了我度假时的标配造型。
That has become one of my go to beach vacation outfits.
好多人夸我这件衣服。
I've gotten so many compliments on it.
透气性特别好。
It's breathable.
穿起来特别舒服。
It's comfortable.
看起来挺有型，但又不拘束。
It looks put together, but it still feels relaxed.
你完全可以穿着它一整天待在海滩，傍晚沿着海边散步看日落，然后直接去吃晚饭，既自在又时髦。
You can literally wear this thing going to the beach all day, walking by the water for a sunset, and then head straight to dinner later feeling completely comfortable and looking fashionable.
这正是Quince最擅长的地方。
And that's really what Quince does well.
他们的纯欧洲亚麻裤子和衬衫穿起来轻松自在，特别适合夏天，价格还惊人地实惠。
They're 100% European linen pants and shirts are easy to wear, perfect for summer, and the price is unbelievable.
最低只要34美元起。
And they start at literally just $34.
他们还有柔软的T恤，整天穿都很舒服，再加上轻薄的棉质毛衣，晚上温度稍微下降时穿刚刚好。
They also have soft tees you can wear all day, plus lightweight cotton sweaters that are perfect for when the temperature drops a little at night.
Quince的所有商品价格都比同类品牌低百分之五十到八十。
Everything at Quince is priced 50 to 80% less than similar brands.
他们直接与道德工厂合作，省去中间商，所以你付的钱买的是卓越品质，而不是品牌溢价。
They work directly with ethical factories and cut out the middleman, so you're paying for exceptional quality, not the brand markup.
而且他们卖的不只是衣服。
And it's not just clothing.
Quince已经成了人们信赖的品牌，不仅买衣服，连家居、旅行和日常用品也选他们。
Quince has become one of those brands people trust for home, travel, and everyday essentials too.
你以前听过我提起过他们的网站。
You've heard me talk about their website before.
在上面逛起来特别有意思。
It's super fun to scroll around.
他们真的什么都有。
They literally have everything.
让这个夏天的衣橱更简单些吧。
So make your summer wardrobe easier.
现在去 quince.com/crypto101 下单，享受免费配送，而且加拿大也支持365天无理由退换。
Go to quince.com/crypto101 for free shipping on your order and three hundred and sixty five day returns now available in Canada too.
访问 quince.com/crypto101，享受免费配送和365天退换服务。
That's quince.com/crypto101 for free shipping and three hundred sixty five day returns.
quince.com/crypto10one。
Quince.com/crypto10one.
如果你一直有个创业想法，Shopify 就是你把它变成现实的地方。
If you've been sitting on a business idea, Shopify is the place where you can actually make it real.
我喜欢 Shopify 的一点，就是它把创业初期的恐惧感消除了。
The thing I like about Shopify is it takes the scary part out of starting.
你不用再一个人苦思冥想怎么搭网站、处理支付、设置结算、管理库存——这些琐事常常让人还没开始就放弃了。
You're not just sitting there trying to figure out a website, payments, checkout, inventory, all these little things that stop people before they even launch.
说到开网店，最关键的就是减少障碍。
When I think about building a storefront, the biggest thing is friction.
你希望顾客一进你的页面，就能喜欢上你的产品，轻松下单，不会卡住。
You want someone to land on your page, like what you're selling and be able to buy without getting stuck.
这就是Shopify的强大之处。
That's where Shopify is huge.
Shopify的结账流程专为帮助更多顾客完成购买而设计。
Shopify checkout is built to help more customers finish their purchase.
等他们再回来时，信息都已经自动保存好了。
And when they come back, their details are already saved.
点一下就能搞定。
One tap and they're done.
厉害的是，Shopify支撑着全球数百万家企业，从你熟知的大品牌比如美泰和Gymshark，到刚起步的小生意都在用。
The cool part is Shopify powers millions of businesses worldwide from huge brands that you know, like Mattel and Gymshark to small businesses just getting started.
不管你是在打造下一个大品牌，还是第一次推出产品，底层的基础设施都已经准备好了。
So whether you're building the next big brand or launching your first product, the infrastructure is already there.
一旦这些技术问题解决了，你就能专心做真正重要的事——打造品牌、吸引关注、把顾客引到你的店铺，让生意越做越大。
Once that part is handled, you can focus on the real work, building the brand, getting attention, and bringing people to your storefront so the business can grow.
当有人真的下单购买时，那个瞬间，你的想法才真正变成了现实。
That moment when someone actually buys, that's when the idea becomes real.
有了 Shopify，没有任何障碍能阻挡你的想法变成一家真正的生意，现在就去把它实现吧。
With Shopify, nothing stands between your idea and a real business, so go make it one.
今天就去 shopify.com/crypto10one 开始你的免费试用。
Start your free trial today at shopify.com/crypto10one.
免费试用就在 shopify.com/crypto10one。
That's a free trial at shopify.com/crypto10one.
好了，各位。
Alright, everybody.
欢迎回到《加密资讯速递》。
Welcome back to the Crypto Rundown.
各位，当市场对比特币的恐慌情绪蔓延时，各种噪音和新闻都在往负面走，但价格的实际走势却没像大多数人预期的那样反应。
Guys, as Max fear reached for Bitcoin, the noise and the news has been overwhelming down to the negative side, but the price action isn't reacting how most people might think.
所以我们得问问自己，第一，到底发生了什么？
So we have to ask ourselves, number one, what is going on?
我们会告诉你，Sailor在卖出，Tom Lee却在买入，这场战争是不是又回来了？
We're gonna tell you, sailor selling, Tom Lee's buying, and is the war back on?
市场在这儿来回摇摆，到底怎么了？
This fleets flip flopping back and forth?
我们想结合这些新闻，看看图表上到底发生了什么。
And we wanna take that news and see what's going on in the charts.
所以今天请来了Brendan。
That's why we have Brendan here today.
他会从技术面出发，帮我们逐条解析这些新闻和市场动态。
He's gonna break it all down for us on the technical side along with all the news.
Brendan，欢迎再次回到节目。
Brendan, welcome back to the show.
今天我们确实有很多内容要聊。
We really do have a lot to cover.
虽然话题数量可能没那么多，但这个周末发生的事可不少，我们得一一拆解，再看看图表上是怎么反应的。
Maybe not as many topics number wise, but there's there is a lot going on this weekend, that we wanna break down and then see how, the results are on the charts.
是的
Yeah.
能回来这里，总是很愉快，Tevo。
Always a pleasure to be back here, Tevo.
我们每次做这类讨论都很开心，尤其是今天这样的日子。
You know, we always have fun with these things, especially on a a day like today.
今天事情真不少。
There's a lot going on.
对吧？
Right?
我觉得对普通听众来说，有几项关键数据特别值得理解，毕竟我们刚经历了一波持续的比特币上涨。
And I think there's a lot of important pieces of data for the average listener to really understand because we've had this kinda extended rally on Bitcoin.
比特币连续六天收涨，也就是说，从上周三到这个周一，每天收盘价都比前一天高，连续出现了六根阳线。
Bitcoin saw six straight days of green, meaning that for six straight days in a row from last Wednesday up until this Monday, it closed higher every single day, putting in six green candles in a row.
现在价格稍微回撤了一点，但还是有很多内容值得聊聊。
We're coming back down here a little bit, but definitely a lot to talk about.
你想得到的，全都有。
I mean, you name it.
罗宾汉、迈克尔·塞拉、汤姆·李，还有地缘政治这些事。
Robin Hood, Michael Saylor, Tom Lee, geopolitical stuff.
加密市场现在牵扯的因素太多，方方面面都得盯着。
There's a lot of different kind of moving pieces and factors to watch out here for the crypto market.
真期待好好聊聊。
So excited to dive in.
首先得说，伊朗和美国的冲突好像又升温了。
The first general one will say is that this Iran US conflict seems to be kicking up again.
就像我们过去几个月在这儿反复提到的，这事儿一直挺不稳定的。
As we've said on the show a lot over the last months now, it's like, hey, that's a situation that seems pretty fluid.
抛开政治不谈，那不是我们该管的。
Politics aside, that's not our department.
但市场现在早就看透了这一套。
We will say the markets are completely seeing through it at this point.
是的。
Yeah.
你会看到一些日常的波动，尤其是油价飙升时，还有十年期国债这些也在反应。
You'll see some day to day ups and downs on that, specifically with the oil spike and maybe the ten year and things are reacting.
但话说回来，这事儿来回拉扯了这么久，我们除了盯着市场，也做不了别的什么。
But again, this has been such a back and forth saga that it's hard to do other anything else in our shoes other than just look at the markets.
所以你只能盯着市场看这事了。
So that's what you're gonna have to do for that.
我们来给你梳理一下今天价格走势上的观察。
We'll we'll break you down on what we're seeing today on the price action.
不过我想先聊的是，布伦丹，迈克尔·赛勒在抛售。
But what I wanna start with, Brendan, is Michael Saylor selling.
他第一次卖的时候，其实只是想表明一下态度：嘿，我们真敢卖。
And again, the first time that he sold, it was just sound you know, showing people like, hey, we are willing to sell.
卖的量非常非常小。
It was a very, very small amount.
我不确定。
I I don't know.
我不会再把这个看作是一笔小数目了。
I'm not gonna qualify this as a small amount anymore.
这是一笔相当大的金额，3588个比特币，价值2.16亿美元，用于支付数字信贷证券的股息。
This is a a sizable portion, 3,588 Bitcoin for $216,000,000 to fund the dividends for the digital credit securities.
你怎么看？
Your thoughts.
你来说吧。
Just take it away.
特沃，关于这件事我之前怎么说的？
Tevo, what have I said about this?
对吧？
Right?
我不是说过吗？他得继续卖更多比特币来支付股息，因为公司要么没能力、要么不愿意用盈利来支付这笔钱？
What have I said about him going to need to be selling more to fund the dividend because they're either unable or they're not willing to use the money that the company is making to pay this thing?
听好了。
Listen.
我再说一遍，我一直是迈克尔·塞拉的粉丝。
I again, I'm a I'm a big fan of Michael Saylor.
但我觉得他这次有点偏离了初衷。
I think he strayed from the mission a little bit here.
我一直对它们搞的这个股息计划持批评态度。
I've been a critic of the whole dividend thing that they're putting on.
不过，我们在这档节目里至少讨论了一个月，现在都快两个月了。
But this is something that we've talked about for, like, at least a month or so on the rundown, maybe two months now.
我们早就讨论过这种情形了。
We've been talking about this exact scenario.
他第一次出来的时候说，哎呀，我们就卖一点点。
He came out the first time, said, oh, we're just selling a little bit.
他一贯的立场一直都是：绝不卖，绝不卖，绝不卖。
He his whole thing was always never sell, never sell, never sell.
你根本不需要卖。
You'll never have to sell.
现在他却跑出来讲，哦，我们只是卖一点点，好提升信用什么的。
Now he's coming out and saying, oh, well, we're just gonna sell a little bit to improve our credit and this and that.
这就有点尴尬了。
It's like, okay.
不过嘛，也行。
Well, that's fine.
这事儿吧，倒也能理解。
It's kind of understandable.
结果他又出来，一下子卖了将近十亿美元的比特币。
Now he comes out again, and he sells almost a quarter of $1,000,000,000 worth of Bitcoin.
我当时看了下数据。
And I was looking at the numbers.
你要是算算他上个月左右买入和卖出的总量，其实是亏了的。
If you look at how much he's bought versus sold over the last month or so, he's at a net loss.
他做了两次不同的抛售。
He did two different selling events.
我记得是6月8号和6月15号到21号之间他买入的，抱歉，我说反了。
I think it was June 8 and June 15 to the twenty first where he bought excuse me.
他在这期间大约买入了2070个比特币，一部分在6月8号，一部分在6月15号到21号，然后从6月29号到30号，再到7月1号到5号，卖出了大约3588个比特币。
He bought around 2,070 Bitcoin, some on June 8, some on June 15 to the twenty first, and then he sold around 3,588 Bitcoin from June 29 to thirtieth and then from July first to fifth.
光看上个月的数据，他的净亏损是1508个比特币，价值大约七千五百万美元。
His net loss here, at least what I'm seeing from the last month, is minus 1,508 Bitcoin, which is worth around $75,000,000.
所以综合他这段时间的买入和卖出，最终结果是净亏损。
So when you factor out all of what he's bought and what he's sold, the net number here is a net loss.
他可以说自己在买入。
So he can say he's buying.
他可以说自己在做各种事情。
He can say he's doing all these things.
但上个月的数据清楚地显示：老兄，你在比特币上其实是亏钱的。
The last month of data says, dude, you're coming out here at a net loss in terms of Bitcoin.
这跟他一直说的完全矛盾啊。
And that just feels contradictory to what he's always been saying.
对吧？
Right?
他总说，另外让我一直挺烦的是，抱歉各位。
He's always and the other thing that I've been getting frustrated with so excuse me, everyone.
我这儿要发几句牢骚了。
I'm gonna go on a little bit of a rant here.
我真要被这事激怒了。
I'm gonna get fired up about this.
他老发帖说，现在是加更多橙点的好时机。
Because he's always posting, looks like a good time to add more orange dots.
咱们再加点橙点。
We're gonna add more orange dots.
橙点让这个图表更清楚。
The orange dots make this chart better.
这件事那件事的。
This and that.
我老是看到有人发帖讨论这个。
And, like, I always see posts about it.
然后呢，好吧。
And it's like, okay.
我们嘴上说了一大堆，可背后到底在发生什么？
Well, like, we're saying all this stuff, but what's actually happening behind the scenes?
背后的情况是净亏损。
Behind the scenes, it's net loss.
过去一个月，比特币是净流出的。
It's a net loss of Bitcoin over the last month.
你跟我说比特币到了周期低点，是几年来最低的位置，可你卖的比买的还多，这完全说不通。
You're telling me that Bitcoin is at cycle lows, the lowest point that we've seen in years, and you're selling more than you're buying, and it just does not make any sense to me.
我这么说可能有点歪曲了你的意思，Tevo，你别介意。
I I I mean, I guess I'm straw manning this a little bit, so bear with me, Tevo.
但我就是忍不住激动，因为我们是加密货币的坚定支持者。
But I get fired up because, like, we're big crypto advocates.
我们相信比特币还会继续上涨。
We believe that Bitcoin will go higher.
这到底是什么意思？
What does that mean?
我们的观点是，当比特币跌到周期低点、多年低点时，正是长期买入的好机会。
Well, we believe that when it hits cycle lows and multiyear lows, it's a it's a long term buying opportunity.
这正是我们在节目里表达的看法。
That's what we think on the show.
所以我们才这么说。
And so that's what we say.
我们说到做到，真金白银地买进。
We put our money behind our mouth.
我之前也提过，我自己就在这附近买入了。
You know, I've talked about myself buying down here.
我还提到过买入长期看涨期权。
I've even talked about picking up LEAPS positions.
在当前价位上，我对比特币的长期前景非常看好。
I'm very bullish on the long term of Bitcoin at these prices.
我只是希望，我的实际行动能真正体现这种信念。
I just wish and I I hope that my actions are reflective of that.
看到那些曾经是加密领域坚定看涨派和领军人物的人，最近的行为却和他们说的话、市场情况或长期愿景对不上，真的让我很来气。
But it fires me up when you see someone who's been such a big bull and such a big leader in the space, and his just his actions lately just haven't been reflective of what maybe he's saying or what's going on or the long term vision.
这确实让人有点沮丧。
And that is a little bit frustrating.
所以我觉得，大家都在关注这件事。
So I think that people are looking at this.
当然，我这里有点在设稻草人了，我也明白卖出是有理由的。
And, again, I'm straw manning it a little bit here, and I understand there are reasons to sell.
他得拿钱去支付股息。
He's You had gotta fund the dividend.
他得提升自己的信誉。
He's gotta improve his credit.
归根结底，这是一门生意，事情就是这么回事。
It's a business at the end of the day and this and that.
但我就是觉得这看起来不太妥当。
But I just don't think it looks good.
对于过去几年一直支持他、听他讲话的很多人来说，这确实让人感到失望。
And I think that it is frustrating from a lot of the people who have been by his side and listening to him for the past couple of years.
所以，Tevo，这里其实有两种人。
So, you know, there's two kinds of people here, Tevo.
这其实又回到了最初的那个观点。
This is what kinda goes back to the original point.
这里分两种人。
There's two kinds of people.
现在这个市场阶段，价格跌到低点，所有资产相比过去几年都处于极高的价值水平，有人买，也有人卖。
At this point in the market, when you're hitting lows and everything's at extraordinary value relative to where it's been over the past couple of years, There are buyers and there are sellers.
有些人卖得多买得少，也有些人买得多卖得少。
There are people who are selling more than they're buying, and there's people who are buying more than they might be selling.
迈克尔·塞勒就在这儿。
Michael Saylor here.
你信不信，要是在一两年前有人跟我们说，他现在卖的比买的多，我们谁都不会信。
Believe it or not, I don't think any of us would have believed this a year or two years ago if you just said, he's selling more than he's buying down here.
但他现在就是这么个情况。
But that's just where he's at.
你知道谁没这么做吗，特沃？
You know who's not doing that, Tevo?
咱们的老朋友、汤姆·李，这周已经买了两次，继续加仓，你可没看到他那边有什么抛售的新闻。
Good old friend of the podcast, mister Tom Lee, has bought, I believe, twice this week, adding to his bags, and you don't see selling headlines from over here.
所以我不打算把他捧得太高，给他戴太多高帽。
So I don't wanna glaze them up, you know, too much and put them on too high of a pedestal.
但你听我说。
But, you know, listen.
他根本没在买。
He's he's not buying.
他正好做了我之前说的那件事。
He's kind of doing exactly what I said.
他看出了以太坊的周期低点。
He's seeing ETH cycle lows.
他看清楚了形势，然后说：嘿。
He's seeing what's happening, and he's saying, hey.
与其卖出手中的资产来凑钱做别的事，我们觉得在低位时最该做的就是买入。
Instead of offloading the bag to fund this or that or whatever it may be, we believe that the best thing you can do at low prices is buy this thing.
所以我们关注的是，汤姆·李从比特币那边买入了42,197枚以太坊，价值大约七千三百万美元。
And so that's what we're really looking at is Tom Lee from Bitcoin buys 42,197 ETH worth roughly $73,000,000.
你猜怎么着？
And then guess what?
他又买了一次。
He bought again.
我觉得就过了几天，他又买了四万枚以太坊，差不多七千一百万，准确说是七千一百六十万美元。
I think it was just a couple of days later for, yeah, another 40,000 Ethereum for roughly 71,000,000 or $71,600,000.
这些币是从FalconX和Kraken买的。
And he's getting this from FalconX and Kraken.
所以我们这位大佬是在加仓，这正是我们想看到的。
So our guy is doubling down, and this is what we want to see.
对吧？
Right?
我们希望看到那些大资金投资者、行业领军人物，无论是加密圈还是传统金融界里那些备受瞩目的人物，都能在价格大幅下跌时大胆买入。
We wanna see the big money investors, the large ones, the figureheads that are super popular in crypto, in TradFi, these big kind of public figures that we look up to, we wanna see them loading the boat towards heavily discounted prices.
对吧？
Right?
比特币跌了百分之五十，以太坊跌了六成以上，Solana更是跌了六到七成。
Bitcoin down 50%, Ethereum down maybe 60 plus percent, Solana down 60 to 70%.
这时候，我们才希望看到真正有底气的人在抄底。
You wanna see people that are confident buying down here.
因为如果你不这么做，公众一看就会想，既然他们都这么干，那我可能也不该买。
Because if you're not, I think that the whole public will look at it and say, well, you know, if they're not, maybe I shouldn't be.
如果他们卖得多、持得少，那我是不是也该跟着卖？
If they're selling more than they're owning, maybe that's what I should do.
对吧？
Right?
大家都会这么看的。
That's what they're gonna look at.
所以对于这件事，其实有两种不同的做法。
So you have two different kinds of of approaches to this.
很明显，比特币是以太坊的储备资产。
Obviously, Bitcoin is an Ethereum treasury.
而他们的策略是把比特币作为储备资产。
Strategy is a Bitcoin treasury.
汤姆·李现在正在持续买入。
Tom Lee, net buys here.
水手，净卖出。
Sailor, net sells.
所以啊，你听我说。
So, you know, listen.
我知道我说得有点激动，但咱们真正关心的，是加密货币的长远发展。
I understand it's a little bit ranty, but I think that what we want here is we want what's best for crypto.
对吧？
Right?
我们相信这个方向的长期价值。
We believe in this long term.
我们只希望看到最好的结果。
We want what's best.
我们讨论这些，偶尔也挑刺，但那是因为我们真的在乎。
And, you know, we speak about it, and maybe we we poke a little bit here, but that's just because we're passionate about it.
我们想看到的是整个生态的最优解，而不是某家公司分红利益的最大化。
And we wanna see what's maybe best for the overall space, not for what's best for some dividend thing for some company.
我们更关心比特币本身的发展方向。
We wanna see what's best for Bitcoin itself.
我们更关心以太坊本身的发展方向。
We wanna see what's best for Ethereum itself.
为了节省时间，我这里稍微简化了一下观点——你当然可以说，STRC 这样做有它的道理，将来可能推动他们去干别的事，然后间接促进他们买更多比特币之类的，但这些都太远了。
And, again, straw manning it a little bit here for the sake of time because you could go down the avenues and say, oh, well, you know, STRC is good because then they're gonna go do different things, and then then that'll allow them to buy more Bitcoin down the road and this and that.
没错，也许确实有这种可能，但目前为止我们还没看到这样的趋势。
And it's like, yeah, you know, maybe, but that's just not quite what we're seeing so far.
不过，这种情况当然也可能发生变化。
But, you know, that could obviously change.
但你知道，什么最拖慢团队的进度吗？
But you know what slows teams down more than anything?
不是人手不够，也不是预算不足，甚至不是工具本身的问题。
It's not always head count budget or even the tools themselves.
真正拖后腿的是，工作的方式只存在于某个人的脑子里，从来没人写下来。
It's when the way work gets done lives in someone's head and never actually gets documented.
一旦有新人加入、新系统上线，或者同事离职，大家就会各自用不同的方式做同样的事。
Then someone new joins, a new platform gets rolled out, or a teammate leaves, and suddenly everyone's doing the same process in a different way.
今天赞助商Scribe正是为了解决这个问题而诞生的。
That's exactly the problem today's sponsor, Scribe, was built to solve.
Scribe是一个工作流AI平台，能实时捕捉任何操作流程，并自动生成分步骤的文档。
Scribe is a workflow AI platform that captures any workflow in real time and turns it into a step by step documentation automatically.
你只要打开浏览器插件，像往常一样操作流程，Scribe就会自动记录下每一个点击、步骤和截图。
You just turn on the extension, do the process like you normally would, and Scribe builds the guide as you go, capturing every click, step, and screenshot.
目前已有超过八万家大型企业使用Scribe，其中包括近一半的《财富》500强公司。
And it's already trusted by over 80,000 enterprises, including nearly half of the Fortune 500.
我们团队是远程办公，我确实多次不得不反复向同事解释同样的设置或流程，每次都觉得这事儿早该写成文档的。
With our team being remote, I have definitely had moments where I've had to explain the same setup or process more than once to a colleague, and it always feels like something that should have been documented the first time.
用Scribe的话，原本要花几小时写文档、截屏、整理的工作，一分钟内就能准备好分享。
With Scribe, what could take hours of writing, screenshots, and cleanup can be ready to share in under a minute.
Scribe还会自动模糊截图中的敏感信息，比如姓名、邮箱和账户号码。
Scribe also automatically redacts sensitive information like names, emails, and account numbers from screenshots.
管理员可以统一强制执行，确保每个环节都不被遗漏。
Admins can enforce that across the team so nothing slips through the cracks.
此外，任何使用这个流程的人，都能实时看到屏幕上的指引，清楚知道该在哪个地方点击。
Plus, anyone following the process can get real time on screen guidance showing exactly where to click inside the actual tool.
Scribe 不只是记录工作流程。
And Scribe doesn't just document workflows.
它还能利用人工智能提出优化建议，帮你发现重复的步骤、瓶颈以及可以简化的环节。
It uses AI to suggest ways to improve them, helping you spot redundant steps, bottlenecks, and places to simplify.
要预约个性化的企业演示，请访问 scribe.how/crypto10one。
To book a personalized enterprise demo, visit scribe.how/crypto10one.
网址是 scribe.how/crypto10one。
That's scribe.how/crypto10one.
你有没有想过，哪些经济力量正在影响你的日常生活？
Are you curious about the economic forces shaping your daily life?
NPR 的《Planet Money》播客，用你真正听得懂、也感兴趣的方式，帮你理清经济的来龙去脉。
The Planet Money podcast from NPR makes sense of the economy in ways you'll actually understand and enjoy.
大家都知道你们特别喜欢听这些简报。
Guys, you love listening to the rundowns.
我最近从NPR的《Planet Money》播客里获取了不少信息，尤其是关于霍尔木兹海峡局势的更新。
I get some of that information from this NPR Planet Money podcast, especially recently with the war going on, the Strait Of Hormuz.
你们能随时收到他们发来的最新动态，就像现在这样。
You're just kinda getting those updates as they come from these guys.
他们产出的内容真的非常精彩。
They put out a ton of awesome content.
虽然和《Crypto 101》的角度不一样，但同样值得一听。
It's a different perspective from Crypto one zero one, but still a great listen.
如果你们对时事和金融世界感兴趣，不妨去听听《Planet Money》播客。
So go over there and check out the Planet Money podcast if stuff like current events and the finance world interest you.
《Planet Money》的每期节目都从一个问题开始。
Each story on Planet Money starts with a question.
最近一期就问了：为什么宝可梦卡片的升值速度比你的退休金还快。
Recent episodes ask why Pokemon cards are growing faster than your retirement count.
关于战争的问题，就像我们最近在节目里聊得很多的那样。
Questions about the war just like we talked about recently a lot on our program.
从就业市场到股市，再到超市里的物价。
From the job market to the stock market to prices at the supermarket.
Planet Money 把这一切都讲得清清楚楚。
Planet Money explains it all.
在这里，复杂的经济体系突然变得容易理解，真实的人的故事取代了抽象的理论，让你边学边笑，还能乐在其中。
Planet Money is a different kind of world where the complex economy somehow makes sense, where human stories supersede abstract theories so you can learn, laugh, and be entertained.
这是经济学，但接地气得很。
It's econ, but just down to earth.
主持人为了讲清楚经济，简直不遗余力。
The hosts go to unusual lengths to explain the economy.
他们还出了一本书，专门追踪全球供应链。
They've published their own book to track the global supply chain.
他们甚至发射了一颗卫星上天，只为搞懂私人航天业的经济逻辑。
They've shot a satellite into space to understand the economics of the private space industry.
他们甚至深入现场拍卖会，展示创意是如何进入市场的。
They've gone inside inside a a live book auction to show how ideas get to market.
这档节目让你既能学到东西，大概还会笑出声，听完后看世界的眼光都不一样了。
It's the kind of show where you learn something, probably laugh and walk away seeing the world a little differently.
如果你喜欢《加密货币入门》，那你一定会喜欢《Planet Money》。
And I think if you like Crypto one zero one, you'll enjoy Planet Money.
不妨去听听看。
Maybe check that out.
关注NPR的《Planet Money》播客，了解金钱如何塑造这个世界。
Follow NPR's Planet Money podcast and understand how money shapes the world.
夏天的日常习惯，全看是不是够省事。
Summer routines live or die by how easy they are.
说实话，要是太费劲的事，我根本坚持不下去。
And honestly, if something takes too much effort, I'm out.
所以Gruens成了我的首选。
That's why Gruens is my go to.
每天一包软糖，就能补充我所需的蔬菜、维生素和矿物质。
It's one daily pack of gummies covering my greens, vitamins, and minerals.
而且每包还含有六克益生元纤维，比两杯西兰花还多。
Plus, it has six grams of prebiotic fiber, which is more than two cups of broccoli.
不用混粉末，不用吞大药片，一点麻烦都没有。
No mixing powders, no giant pills, no hassle.
我只要撕开包装，一口吞下去就完事了。
I just rip open the pack and I'm done.
味道特别好，让我再忙也能轻松保持健康。
They taste so good and make it easy to stay on top of my health, even when life gets busy.
在 groons.co 使用优惠码 podcast，最多可省 52%。
Save up to 52% off with code podcast at groons.co.
优惠码是 podcast，网址是 gurns.co。
That's code podcast at gurns.co.
Tevo，我这边就交还给你了。
Tevo, I'll hand it off back to you here.
这番话讲得太棒了，赶紧把图表调出来吧，我真想看看它对市场造成了什么影响。
It it's a great rant and get the charts up ready for us because I'd really like to see how it has affected the market.
但我觉得总结起来就是：2020到2024年那套微观策略，已经不一样了。
But I think the summary is, hey, the strategy of 2020 micro strategy of 2020 to twenty one, twenty two, twenty three, twenty four has changed.
对吧？
Right?
以前那些片段可是出了名的，媒体一报道，播客里也总说别卖比特币，可现在情况变了。
It was, you know, the clips, they're infamous, and then the press hits and the podcasts never sell your Bitcoin, and then it's evolved.
这没什么问题。
And that's okay.
事物本来就会变化。
Things can evolve.
我觉得这其实是个挺有意思的转折。
I think you can make the case that it was kind of a interesting pivot.
在某种程度上，这转变发生得特别快，至少我是这么看的。
It happened very quickly in in a way, in my opinion.
我觉得吧，你当然有权有自己的看法。
I think there's other you know, you're allowed to have your own opinion.
这标志着微策略进入了一个新时代。
It's just it's a new era for micro strategy.
你得自己做足功课，明白情况已经变了。你看汤姆·李的做法，说不定哪天他的策略也会调整。
You got to just do your research and and understand that the facts have changed and there's, you know, again, you can kind of see what Tom Lee is doing and maybe his strategy is gonna change someday.
但他明显专注于收购以太坊，用分红来继续买入更多，或者发股息——他们想搞点大动作。
But he's focused on clearly acquiring Ethereum and using the dividend to to do whether it's acquiring more or paying, they wanna do a stretch.
我觉得他们其实已经有了一套明确的计划，一套面向未来的战略蓝图。
But I think there's a plan in place, whereas they have a plan of their strategic vision for the future.
相比之下，微策略未来的战略方向确实变了，但这完全没问题。
Whereas it feels like the strategic vision for the future of MicroStrategy has changed, and that's totally okay.
你们在主动传达这个变化，展示出来，也看到了实际成果。
You're communicating it and you're showcasing it and you're seeing the results of it.
所以你得想想，既然不是比特币了，那我还想继续当一个长期持有者吗？
So then you got to be like, okay, well, do do I want to be a stretch holder when it's not a par?
我真想持有微策略的股票吗？
Do I want to own micro strategy stock?
你想想，我是否相信那些从不卖出比特币的教条？毕竟有人是在真正做产品，必须靠卖比特币来维持资金循环，支付股息。
You know, do I believe in in the teachings of never sell your Bitcoin from somebody that's actually building products that has to sell Bitcoin and have this washer and dryer of capital to pay these dividends?
这整个故事还挺有意思的。
It's it's a it's been a fun saga.
而且我们当然希望整个加密市场都能好起来。
And again, we want the overall crypto market to just do good.
有创意是一回事，但引发大规模恐慌是另一回事，我觉得我们还没到那一步。
So, you know, being creative is one thing, causing a a mass panic is another, and I don't think we've gotten there yet.
不过呢，开发这么多新产品肯定有风险，这一点你也能看出来，万一最坏的情况发生，可能会带来一些负面影响。
But, you know, if this, you know, there's definitely some risks, right, at building out all these different products, which, you know, I think you can kind of see in a worst case scenario could cause some harm.
所以我们还是会继续关注这件事。
So we'll cover it.
当然，如果迈克尔·塞拉愿意来，我们非常欢迎，但他已经上过太多播客了，你听听他的说法，自己判断就好。
Obviously, we'd always like to have Michael Saylor on if he's interested, but he he he hits a lot of podcasts and, know, you you kinda take it for what it's worth from his own word there.
不过咱们来看看图表吧，布伦丹。
But let's bring up the charts, Brendan.
我先问第一个问题：给我看看周一的新闻。
Show for the first thing I'm gonna ask is show me the the Monday news.
这次爆出他卖出了大量比特币的消息。
So this news dropped of him selling a lot of Bitcoin.
当初他刚卖一小部分比特币的时候，价格直接就崩了。
And I I originally, when he first sold a small amount of Bitcoin, it led to, like, a cascade in price.
但这次他卖得更多，市场反而反弹了。
This time, he sells a lot more, and the market actually bounced.
是的。
Yeah.
这里其实有两个重点，我先带大家回顾一下上周我注意到的一个现象。
I mean, there's two things to look at here, and I wanna walk us through something that I saw last week first.
我们最近看到比特币几次跌破关键位后都没能继续下行。
Because what we've seen is a couple failure to go lower candles from Bitcoin.
我先把时间周期从日线切换到小时图，这样看得更清楚些。
I'm gonna move us from the daily to the hourly chart so that we can see this a bit more clearly.
但如果你回看上周，当时发生了一次大规模清算。
But if you zoom out to last week, there was this liquidation event.
对吧？
Right?
那会儿比特币创下了历史新低。
This was the all time lows.
你看到的是，比特币在周二深夜时段开始反转，接着抛售，跌破了周期低点，然后快速下跌。
And what you saw here was Bitcoin kind of roll over here in the later hours of the night on on Tuesday, rollover, sell, break through cycle lows, and sort of aggressively falling to the downside.
当时价格从五万八跌到五万七，创下新低，但紧接着就被猛烈抄底了。
I mean, we're talking 58,000 down to 57,000 new cycle lows, and then it was bought up extremely aggressively.
对吧？
Right?
所以你在小时图上看到的这根长影线，就是那时候形成的。
And that's where you see this big wick come in on the hourly chart.
比特币跌破周期低点后，出现了一根长长的下影线，表明下跌乏力，随后强劲买盘将价格拉回，形成更高的低点，之后买盘继续加大。
Bitcoin falls through cycle lows, puts in a huge failure to go lower wick, aggressive buying pulls back, higher low, more aggressive buying happening afterwards.
在这次未能继续下行之后，我们再回看日线图，可以看到比特币连续出现了六根阳线。
And then following this failure to go lower, we can go back to the daily chart, and you can see Bitcoin putting in six green candles in a row on the daily.
从周二触底开始，到周三大致见底，之后价格就反弹了，整个周三、周四、周五、周六、周日和周一一路上涨。
So you see it climbing up here from that when that Tuesday where it bottomed, Wednesday when it bottomed ish, and then it basically bounced and went up all Wednesday, Thursday, Friday, Saturday, Sunday, Monday.
然后，有关策略调整的消息公布了。
And then the news came out about the strategy news.
对吧？
Right?
你看到的是，那些策略方开始大量抛售比特币。
And what you saw was strategy, you know, selling all this Bitcoin off.
市场一下子慌了。
People were freaking out.
之前比特币走势其实挺好的。
Bitcoin had been doing good.
人们得知了这个消息。
People learned the news.
比特币从接近64000美元的价位下跌，跌了近4%到61000美元，但随后再次出现无法继续下行的走势。
Bitcoin sells off from 63, almost 64,000, falls almost 4% to the downside down to 61,000, and then Bitcoin, again, failure to go lower.
完全吞掉了之前的反弹，当天收涨，创下七月以来的最高收盘价，随后又强劲反弹。
Eats the entirety of the move back up, goes green on the day, closes at the highest point that we've seen in the month of July, and then has a just, again, a really good recovery.
上周出现了一次无法跌破的走势，这周又在利空消息和新闻影响下再次出现同样的情况。
So you see a failure to go lower last week, another failure to go lower off of some FUD and news this week.
现在市场稍微回调了一下，但我认为这很大程度上跟我们马上要讨论的一些话题有关，比如地缘政治，或者最近明显走弱的传统市场。
And then we're rolling over a little bit here, but I think that that's largely into some of the topics or related to some of the topics that we're gonna be going over here in just a second, whether it's geopolitics, whether it's the traditional markets, which have been really kind of rolling over here.
最近几天，你开始看到一些幅度不小的阴线，有些日子跌幅达到1%、1.5%甚至超过2%。
In recent days, you've started to see these decline some, you know, decent sized candles here, you know, going down 1%, 1.5%, 2% plus on some of these days.
再加上我们最近收到的一些数据，暗示这可能会推迟降息，甚至增加加息的可能性。
And then, of course, some of the data that we've been getting saying, hey, maybe this actually is going to affect rate cuts or even boost the chance of rate hikes.
所以加密市场正在对多种不同因素做出反应，这些我们待会儿会详细聊聊。
And so the crypto market responding to a mix of different factors, which we'll get into.
但我觉得，除了我们马上要聊的新闻之外，图表上最大的看点是，比特币上周三和本周一都出现了跌破后无力继续下行的情况。
But I think the big story from the charts, aside from the news, which we're about to talk about, is really that Bitcoin put in a failure to go lower last Wednesday, a failure to go lower on Monday.
现在它开始有点回调了，所以我们得继续关注。
Now it's starting to roll over a little bit, so we wanna keep an eye on it.
但从整体来看，我还是挺看好的。
But I like this from a general stance.
我要说的是，Tevo，目前的数据还不足以明确判断底部是否已经形成。
The one thing I'll say is, Tevo, it just doesn't give us enough data to say definitively if a bottom is in.
我觉得这里显示出，比特币正处于一个非常强劲的长期价值区域。
I think what this shows us down here is that I think Bitcoin is at a very strong long term value area.
这意味着，如果你看一年、两年、甚至三年后的走势，这个地方很可能会成为极具价值的买入点。
What that means is that when we're looking at out, you know, a year from now, two years from now, three years from now, I think this is gonna be a tremendous area of value when you're looking at that longer time horizon.
我仍然不太确定的是，底部到底是不是已经真正探明了。
What I think is still a little bit uncertain is whether or not the bottom is actually in.
我们眼前还没有足够明确的证据。
We just don't have that kind of data in front of us.
对吧？
Right?
你还是得看比特币这里。
You still look at Bitcoin here.
它现在还在所有历史高点对应的VWAP下方。
It's beneath that anchored VWAP from the all time high.
它也低于200日均线。
It's beneath the two hundred day moving average.
它还低于50日均线。
It's beneath the fifty day moving average.
这里正在形成越来越低的局部高点。
It's forming, you know, lower local highs in here.
从宏观的视角看，它依然处于下行趋势中，还在不断创出更低的反弹高点。
It's still forming in the macro kind of zoomed out downtrend, still forming lower swing highs.
大部分时间里，它仍然低于之前的盘整区间。
It's still beneath its prior consolidation range for the most part.
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我的意思是，它现在才刚过二十日均线而已。
I mean, heck, it's barely above the twenty day moving average.
所以从整体趋势来看，趋势依然还是向下。
So when you're looking at the overall trend, the overall trend is still pointing downwards.
完全没有明确反转的迹象。
There's no sign that's, like, definitive of a reversal.
有些数据表明，如果你拉远看，比如周线级别的RSI、MACD、二百周均线，还有上一轮低点锚定的VWAP，这些确实显示比特币可能在这里找到强劲支撑。
There's some data pointing towards that saying, well, if you zoom out and you look at, like, the weekly RSI and the weekly MACD and the two hundred week moving average and the anchored VWAP from the prior cycle's lows, like, does look like this is a tremendous area of value where Bitcoin could bottom.
有数据支持它可能见底，但还不能说它已经彻底触底了。
There's data pointing towards the evidence that it could bottom, just not that it has absolutely bottomed yet.
所以我们现在处于两难境地：长期来看确实有价值，但还没确凿证据表明底部已形成，这意味着比特币仍有可能回踩前低，甚至跌破新低。
And so we're in between a rock and a hard place where, again, it looks like there's long term value, but there's not definitive proof of a bottom, which means it is possible for Bitcoin to come back to the lows, maybe break in the new lows.
这种情况我们必须考虑进去。
That has to be something that's on the table.
那这对咱们来说意味着什么？
Now what does that mean for us?
对我来说，我还是觉得上行风险远远小于下行风险。
Well, for me, I still think that the upside risk drastically outweighs the downside risk.
比特币会创新低吗？
Could Bitcoin go to new lows?
会。
Yes.
但我觉得，如果真到那个位置，我反而会更积极地加仓。
But it's somewhere that I would really, really wanna capitalize on getting more aggressive personally.
再说一遍，既然上行风险比下行风险小得多，我觉得在这个水平上押注上涨，比押注下跌更有价值。
I I also think that, again, with the upside risk outweighing the downside risk, I think that there's just more value to be had betting on the upside at these levels than there is betting on the downside.
所以我现在最想做的，是看看哪些资产表现强劲、有持续动能、收入稳定，这些才是我愿意在回调时买入的对象。
So what I wanna really look at doing here is look at what's strong, what's working, what's doing decent, what's holding some good activity in revenue, and those are the kind of things that I wanna buy on the dips.
关键就在于，趁着回调，我想多买一些这类资产。
And that's kind of the keyword here is on these dips, I want to look at, you know, buying some more of this stuff.
我真想在突破高点、遇到阻力的时候追涨吗？
Do I wanna buy the absolute breakout, the peak where it's at resistance?
不一定现在买，但我希望在这些回调时，谨慎布局一些中长期仓位。
Not necessarily here, but I wanna be conservatively looking at some of these longer term positions on these dip buys.
我觉得比特币依然表现不错。
And I think Bitcoin still looks good.
我依然看好以太坊和索拉纳。
I still like ETH and Solana.
以太坊如果跌到1700美元或更低，我愿意入手。
I mean, I'm fine buying ETH at 1,700 or below.
索拉纳在70美元左右，我也觉得可以买。
I'm okay buying Solana in the seventies.
你注意到了吗？昨天周二，Aerodrome已经冲上了今年的新高。
You've seen Aerodrome pushing up to new yearly highs as of yesterday on Tuesday.
你看到Hyper的走势了。
You saw Hyper chart.
没错，确实如此。
Yeah, man.
我的意思是，这走势
I mean, it's it's
图表表现强劲。
pushing looking chart.
没错。
Yeah.
这波上涨是今年除了那些短暂高点之外的最高水平。
Basically, the highest point that it's been this year outside of its, like, its little peaks.
这东西表现得太猛了。
So this thing's been crushing it.
你懂的。
You know?
它之前是在什么位置？
Where was it?
最近，Hyperliquid 也快逼近历史高点了。
Hyperliquid almost pushing up to all time highs as well here recently.
有几代币表现不错。
A handful of coins that are doing good.
所以我想说，呃，
So I would just, you know, say, hey.
确实有些动静，但别信那些唱衰的人，他们总爱把事情说得比实际情况更糟。
You know, there's some stuff going on, but don't believe the doom and gloomers out there because they always wanna make it sound worse than it actually is.
很棒的信息。
Great stuff.
很棒的信息。
Great stuff.
谢谢，布伦丹。
Thank you, Brendan.
你有没有想过，就像你说的，风险其实是偏向上涨的？
Any any idea of you know, you I like how you said kind of risk is to the upside.
对。
Yeah.
你知道吗，我其实想说一件事。
I I and I you know what?
我觉得这功劳该算在我头上。
I credit I think a credit to me.
我喜欢这种肯定，因为我说过很多次了，我一向从宏观角度出发，告诉你我看到的时间线上的变化——我们之前也聊过，那些飞涨的股票，比如内存板块和AI股，现在确实开始回调了。
Love a good credit to me because I think I've said this a lot as you you know, I'm kind of the macro like, hey, here's what I'm seeing on the timeline and and we kind of covered this and saying, these high flying stocks, the memory trade, the AI stocks that have been high flying, those are starting to come in a little bit.
上次你来的时候我们聊过这个，但情况还在持续。
And I know we covered that the last time you were on, but it's continued.
不过还没到崩盘的地步。
But the bottom hasn't fallen out yet.
加密货币也没崩盘。
So the bottom hasn't fallen out of crypto.
股市也还没崩盘。
The bottom hasn't fallen out of the stock market yet.
所以，我完全同意你的看法。
So again, I I agree with you.
没错。
The Yeah.
在看到明显崩盘之前，感觉这还是个不错的吸筹区域。
Until you see something crack, it feels like, you know, this is a good accumulation zone.
你得清楚这里的风险和回报。
Again, I think you need to you need to understand the risk reward.
没人能确切告诉你价格会上涨还是下跌，也没人能保证结果。
Again, nobody can tell you exactly where it's going up or down to guarantee that.
但目前这些价位看起来确实有支撑。
But there seems to be some strength at these levels right now.
除非又有新的利空来袭，否则你不得不认为——当然，这不是针对任何人的具体财务建议——这确实是个不错的吸筹时机，我们都承认这一点。
And unless there's some other shoe to drop, you'd have to think this is a a, you know, without saying personal financial advice for anybody specifically, it's like, hey, this is a good, you know, accumulation zone, which we both have admitted to.
自动买入的策略已经启动，我们在慢慢建仓，持续规划，不断收集信息。
Like, the automatic buys are on, we're nibbling here, we're planning, and we're keep continuing to gathering information.
如果你是通过听这个节目来决策，那你来对地方了，整个夏天我们都会持续产出优质内容。
So if you're doing so by listening to this, are in the right place because we'll continue to make great content all through the summer.
我们马上会推出很多精彩的播客。
We have a ton of great podcasts coming out.
《SharpLink》已经发布了。
SharpLink went out.
如果你想了解以太坊的最新现状，不妨回去听听那一期。
So if you want the State of the Union of Ethereum, please go back and check that out.
如果你还没听的话。
If you have not listened to it.
这周我们还会推出Coinbase的John D'Agostino的访谈。
We've got Coinbase, John D'Agostino coming out, this week as well.
那一期一定会非常精彩。
That's gonna be an amazing one.
提前透露一点小消息。
And, just a little sneak peek.
最近有传言说，Brendan，我和我们的领路人Bryce可能几周后要去参加一个会议。
There's there's rumors flying around, Brendan, that, Bryce, our fearless leader, and I might be heading to a conference on a couple weeks.
这件事已经在筹备中了。
It is in the works.
我们得等百分百确认了才公布，但这次大会会有很多重量级人物出席。
We'll wait until it's a 100% confirmed, but some big names at this conference.
真正的行业大咖。
Big big names.
我们正忙着赶过去，打算面对面采访不少人。
And we're we're we're working on getting there and sitting down with people in person for a bunch of different interviews.
所以这就是为什么你该来看《加密货币入门》。
So again, this is why you come to Crypto one zero one.
这才是你加入这个社区的原因。
That's why you're a part of the community.
如果你正在看这段视频，点个赞吧。
If you're watching this, give it a thumbs up.
还没订阅的话，右下角点个关注，一如既往，别忘了查看下方链接，更多参与社区活动的方式都在那儿。
If you haven't yet, bottom right, subscribe and always as always, check out the links below to get more involved in the communities.
接下来聊点新闻，Robinhood 是我们节目的老朋友，他们也会来参加这次大会。
As we move on for some of the news, Robin Hood, friends of the show truly, and are gonna be at this conference.
如果我们去的话，就能当面见到 Johan，还有 Robinhood 团队的其他几位成员。
So if we go, we're gonna be meeting, Johan in person, and there's a couple other people from the Robin Hood team.
看起来 Robinhood 主网的上线表现非常不错。
But it looks like the Robin Hood main net had a had a great launch.
Robinhood 链上线反响很好，还拉到了不少优质合作，尤其是和各个 Layer 2 以及 Layer 1 的项目，还有谁来着？
Robin Hood chain had a great launch, a lot of positive things, a lot of good a lot of good partnerships along with that as well with all the different layer layer twos and layer I think who else was it?
Uniswap 的 Layer 1 和 Layer 2，还有 Arbitrum，都跟他们有合作。
Uniswap layer layer one, layer twos, Arbitrum.
现在 Robinhood 链在 RWA 领域热度很高，对 meme 币来说也挺友好的。
Just a lot of buzz around the Robin Hood chain here for RWAs and quote unquote, great for meme coins too.
我刚看到我们跟 Brian 的聊天记录，他这周五要来节目。
I saw our chat with Brian who we're having on Friday.
记得把这期安排在周五。
So book that for Friday.
现在加入这个赚钱热潮，时机再好不过了。
Perfect timing to get into the momentum moneymaker's world.
Robin Hood 链上也有一些 meme 币正在快速上涨。
There's some meme coins popping off on the Robin Hood chain as well.
是的。
Yeah.
确实有。
There are.
我们马上来看这张图表。
We'll show this chart in in just a second.
对。
Yeah.
比如 Cash Cat，它是 Robin Hood 上最热门的 meme 币之一，市值已经突破了一亿美元。
I mean, of cash cat, one of Robin Hood's leading meme chains surpassing a $100,000,000 in market cap here.
目前它的市值排名是第234位，但最近势头正猛。
It's now ranked at the two hundred and thirty fourth slot in terms of market cap, but it's getting a boost.
这东西又启动了，Tevo，现在真是势头十足。
This thing is running again, Tevo, or it's or should I say it's really running right now.
这玩意儿现在正一路狂涨，涨得厉害。
But this thing just ripping, ripping face here to the upside.
这是下一个大机会吗？
Is this the next big area?
我看到我们内部的分析团队在讨论这个。
I saw our kind of internal analyst team talking about this.
你觉得短期操作会有很大潜力吗？
And, you know, is there going to be a lot of potential for short term plays?
我觉得确实有。
I think that there is.
我们回顾过以前的操作，在这种爆发的生态里，机会总是有的。
You know, when we looked at past plays, one of the things that you see is on these exploding ecosystems, there's always opportunities.
接下来最主要的DeFi机会会是什么？
What's gonna be the main, you know, DeFi play?
下一个主流的模因币会是哪个？
What's gonna be the main meme coin?
主推的这个、那个，还有TVL提供方会是谁？
What's gonna be the main this and that and TVL provider?
你在Base上已经看到过这种情况大规模发生。
And you saw it happen extensively with Base.
对吧？
Right?
SUI上见过，以太坊上也见过，其他二层网络上同样见过。
You saw it with SUI, and you've seen it with Ethereum, and you've seen it with other layer twos.
尤其是Base，你已经看得清清楚楚了。
You've especially seen it with Base.
我觉得这个新生态里头，可能会有不小的机会。
I mean, I think that there could be some big plays here for inside of this new hood ecosystem.
肯定会有不少热度。
There's probably gonna be some hype.
你懂的。
You know?
这里所有被炒起来的东西，都能有长期价值吗？
Is everything that gets pumped up here gonna have long term value?
说实话，我觉得不会，但肯定会有那么一些具备长期价值的机会。
Know, I don't think so, but I think that there will be some long term value plays.
短期内，我觉得会有很多不同的机会。
And in the short term, I think there's gonna be a lot of different opportunities.
所以得小心点。
So be careful.
你知道的，行情会很波动。
You know, it'll be volatile.
起伏会很多，不过确实挺有意思的。
Be lots of ups and downs, but, yeah, interesting stuff.
Hood的这条链到目前为止表现得相当成功。
I mean, Hood's chain here has been pretty successful so far.
是的
Yeah.
这个数据太棒了。
This is a great stat.
你知道吗？Robin Hood链上的DeFi总锁仓价值在三天内几乎翻了一番，达到3355万美元，根据DeFi Llama的数据，而这距离他们主网上线才刚过去五天。
You know, Robin Hood's DeFi TVL on the Robin Hood chain nearly doubled in three days to 33,550,000 per DeFi Llama, and this is only five days after their main net.
目前Morpho和Uniswap仍然占据了绝大部分，但它们确实是核心玩家。
So Morpho and Uniswap here still account for nearly all of it, but core players.
我知道我和你都有偏见，尤其是我，之前还老拿Robin Hood的股价9美元说事儿。
I know me and you are biased, especially myself being, you know, calling out Robin Hood or whatever it was $9 a share.
从选股的角度看，那确实奏效了，但更重要的是，这么多年来他们一直频繁上节目，一直在踏实建设，从不真正纠结于价格——不管是股票还是加密货币，他们坚信这项技术的未来，不断推出新产品。
And and that worked from, you know, a pick perspective, but just having them on the show consistently over the years and just how they're building and consistently building and not, you know, not truly worried about price whether it's stock or crypto that they believe in this technology for the future and they keep rolling out newer and newer products.
所以我觉得，他们的团队确实值得称赞。
And so I I think it's, you know, credit to their team.
这更像是乌龟和兔子的故事，对吧？
It's more of the, you know, the the tortoise and the hare, right?
慢工出细活，稳扎稳打才能赢。
Slow and steady will win the race.
那时候热潮最旺的时候，大家去Robin Hood主要是为了买各种山寨币，或者顺便买点比特币，根本不是冲着它本身去的。
And it felt like when the hype was at its highest, you know, maybe Robin Hood and Crypto and all that wasn't, know, obviously people would go there to buy random alt coins and some Bitcoin.
但真要搭建基础设施的时候，根本没人会想到Robin Hood。
But when truly building infrastructure, you really didn't think of Robin Hood.
现在热潮退了，AI成了风口，Robin Hood却还在默默搭建加密货币的底层架构。
And then as, you know, the hype has worn down and and the AI trade is now the bell of the ball, Robin Hood continues to build on crypto rails.
我觉得这一点特别重要。
And so I think that's that's really important.
再提一句，周五和Brian的直播，别忘了。
And again, one more shout out for Friday's live with Brian.
我这就给大家安排好时间。
I'll get that scheduled for everybody.
对了，我好像已经定好了。
Actually, I think I have it.
我觉得应该是周五下午两点和Brian一起直播。
I think it's gonna be Friday at 2PM with Brian.
周五两点。
Friday at two p.
东部时间。
M.
现场直播。
Eastern live.
他会聊聊Robin Hood平台上最近疯传的模因币热潮，而且我们好久没跟Brian聊过了，肯定特别有意思。
And he's gonna cover all this meme coin mania that's going on the Robin Hood chain and just we haven't talked to Brian in a while, so that'll be super super fun.
记得把时间记在日历上。
Put that on your calendar.
但代币化的权益资产还在持续升温。
But tokenized equities continue to just gain.
我们看到了你之前在材料里放的那个数据，Brendan，这块你来分享一下吧。
We saw we saw this stat that you put on the sheet, Brendan, so I'll hand that off to you.
这可太疯狂了。
This is a wild one.
仅六月份，通证化股票的交易量就创下了34亿美元的纪录。
Tokenized equities saw a record $3,400,000,000 in volume for the month of June alone.
这标志着环比增长279%，同比增长高达1400%，Tevo。
What this does is it marks a 279% month over month growth rate with 1400% year over year growth, Tevo.
真是不可思议。
This is wild.
主要推动力来自SpaceX的IPO。
It was primarily driven by the SpaceX IPO.
当时一连串事件发生，市场对它的需求直接爆了。
Surge demand for this thing went wild when all this stuff was happening.
很多中心化交易所和平台在SpaceX上市期间都出现了问题和宕机。
A lot of centralized exchanges and places were having issues and downtime with the whole SpaceX IPO.
你知道吗？
And you know what?
人们会转向代币化市场，以便在前后获得敞口，这可是件大事。
People look towards the tokenized markets to get exposure before and after, and it's a it's a big deal.
连官方都说了，嘿。
It even says, hey.
现在，Solana 网络已经占到了这些资产交易总量的 90%。
Solana's network here now accounts for 90% of the volume traded inside of these assets.
在那之前，我猜大多数人根本想不到会这样。
I don't think most people would have thought that prior to this.
一提到代币化，尤其是代币化股票，你第一反应 probably 会想到以太坊。
When you think of tokenization or, you know, tokenized equities rather, I think you would probably think about Ethereum first.
但实际情况是，当人们交易这些代币化股票时，90% 的交易量都发生在 Solana 上，而不是以太坊。
But what this is saying is when you're talking about trading these tokenized equities, 90% of that volume was happening on Solana, not on Ethereum.
那这是否意味着我们看空呢？
Now does that mean we're bearish?
当然不是。
No.
对吧？
Right?
我觉得不同的应用场景、不同的用途、不同的产品，但人们确实低估了Solana。
I think different use cases, different purposes, different products, but I think people to have discounted Solana too much.
它的价格已经被大幅打压了。
It has been heavily sold off.
大家以为它只适合做表情币，但事实已经证明这并不对。
People think it's only for memes, and it's just proven not to be true.
我们仔细研究过他们，他们的数据排在第一。
Their number one we looked at them.
他们的日活跃用户数排在第一。
They had the number one stats for twenty four hour or daily active users.
日活跃用户数第一，24小时交易笔数第一，日去中心化交易所交易量第一，现在又看到他们在这些代币化证券的交易量中占了90%，而上个月六月，这个数字还创了新高。
Number one in daily active users, number one in twenty four hour transactions, number one in daily DEX volume, and now you see them having 90% of the volume traded in these tokenized equities, which hit a record number last month in June.
你还能看到他们的……我这里没在图表或表格里列出来，但他们的代币化业务——不是代币化，是别的方面。
You also see their stay I don't have this on the chart or on the sheet, but their tokenization not tokenization.
不好意思。
Excuse me.
他们的稳定币增长率也很亮眼。
Their stablecoin growth rate is another one that's doing pretty well.
尽管他们在稳定币市场中还占不了多数，但表现已经不错了。
So they're doing okay even though they're not the majority of the stablecoin space.
离主流还差得远。
They're not near that.
但他们的各项指标确实在全面上升。
But you do see their metrics increasing kind of across the board.
这就引出一个问题。
So it begs the question.
如果他们的稳定币市场在增长，如果他们的代币化证券市场在扩张，如果他们在日活跃用户、日交易量和日去中心化交易所交易量上都保持领先，那他们绝对是一股不可忽视的力量。
If they're increasing the stablecoin market, if they are increasing their tokenized equities market, if they're increasing on and holding the dominant form of daily active users, daily transactions, and daily DEX volume, I mean, they're a real force to be reckoned with here.
所以听好了。
And so listen.
各位，我们可不是极端比特币信徒。
Guys, we're not Maxis.
我们很喜欢比特币。
We love Bitcoin.
我们也喜欢以太坊。
We love Ethereum.
我们也很看好索拉纳。
We love Solana.
我说这些可不是为了贬低其他项目。
This is not me saying this to to kind of roast everything else.
我对这三者都有投资。
I have exposure to all three.
我真的有。
I I do.
我对这三个项目都有不少持仓，所以绝对算不上极端信徒。
I have a lot of exposure to all three of those plays, so I'm far from a maxi.
但再说一遍，我觉得很难完全否定它。
But, again, I I think it's hard to write that off.
如果你是个极端支持者，只盯着其他项目，那确实很难解释Solana为什么能取得这样的成功。
If you are a maxi looking at one of the other ones, it's it's hard to justify the success that Solana has seen.
听好了。
So listen.
我很庆幸自己在这三个项目上都有布局，但我确实觉得Solana在熊市里表现非常出色，一路领先，持续增长，哪怕外界环境这么差。
I'm glad I have exposure to all of them, but I do think Solana has really done a good job here inside of the bear market leading and growing still despite what's happened.
你说得太到位了，我完全同意。
I couldn't have said it better myself.
我真的一点补充都没有了。
I really don't have anything to add there.
那我们就继续往下聊吧。
So we'll just we'll keep moving on.
再说一遍，看到这个领域里依然有这么强劲的建设势头，真的挺让人振奋的。
Again, there there's it's fun just finding, god, these bullish shoots of the continuation of building in the space.
因为说实话，当你不是聚光灯下的主角时，很多问题都会被悄悄掩盖。
Because again, when you're not the the bell of the ball, it's, know, a lot of things get brushed under the rug.
约翰·达加西诺说过一句很对的话：你没在Coinbase里面，看不到那些源源不断涌来的利好消息。
A lot of good John Dagasino said this, it's like, don't have, you don't, you're not inside coin base like I am seeing all the bullish information that's coming through the wire.
由于价格走势的关系，它现在没以前那么受关注了。
It's not getting the noise that it usually does because of price action.
这周我还看到一件事，真的让我大吃一惊。
And another thing that that I saw this week that really, this one kind of blew my mind.
我经常提到这个，就是越来越多公司开始招聘加密货币和数字资产相关的岗位，那些传统巨头们也在转变，除了先锋集团，他们当初可是铁了心说绝不会在平台上线比特币ETF。
I bring it up all the time when we talk about, but you know, different companies hiring Crypto's positions and digital asset positions and you know, they're they're the old guards and none is the older oldest guard other than Vanguard, who originally was like, we'll never sell the Bitcoin ETFs on our platform.
那时候他们对加密货币态度非常强硬。
Very, very, very anti crypto.
是的。
Yeah.
但很明显，后来情况变了，他们也开始提供ETF了。
Obviously, that changed and they started offering the ETFs.
我觉得那位首席执行官是被逼着离开的。
I think the CEO was was kind of pushed out the door.
我肯定这并不是唯一的原因，但就在那项决定之后，当时比特币ETF的增速是所有ETF里最快的。
I'm sure that wasn't the only reason, but after that decision, the the ETFs were at the time the fastest growing ETFs for the Bitcoin ETF.
现在，先锋公司正在为他们的个人财富业务招聘数字资产负责人。
And, you know, Vanguard is now hiring a head of digital assets for its personal wealth business.
是的。
Yeah.
我的意思是，我有
I mean, I have
我就直说了。
a I'll just say this.
我就直说了。
I'll just say this.
他们当然不会叫它‘加密负责人’，但要是真这么叫，还挺讽刺的。
Obviously, they wouldn't call it head of crypto, but it'd been funny if we made them.
是的。
Yeah.
关于那位前高管，我想说一点。
Well, I'll have this to say about the former guy.
我有个说法。
I don't I have a saying.
商业和偏见是没法共存的。
Business and bias don't go together.
对吧？
Right?
我觉得以前就是这样，掌权的人有很明显的偏见。
And I think that's what there was back in the day is that you had someone in charge who had a heavy a heavy bias.
这并不符合公司的最佳利益。
It was not in the best interest of the business.
我觉得吉米·戴蒙当年的做法就更值得称道，他常说：听好了。
I think Jamie Diamond used to take at least a more admirable approach where he would say, listen.
我不太认同，但那里确实有赚钱的机会。
I don't agree with it, but there's money to be made there.
你看到他们还是在搞数字资产，整个加密领域都没落下，尽管他本人可能并不看好。
And you saw them dealing with digital assets in the whole crypto space despite him maybe not viewing it as favorably.
我觉得这种做法挺值得尊重的。
I think that's respectable.
他在说：我把个人偏见放一边，做对业务最有利的事，因为这能赚钱，不管我个人怎么想。
He's saying I'm putting my bias aside, and I'm doing what's best for the business because this can make us money regardless of what I might think in my personal beliefs.
我觉得作为领导者，这种态度很明智。
I think it's an intelligent take as a leader.
对吧？
Right?
而你在先锋基金看到的，恰恰相反。
What you saw in Vanguard was kind of the opposite.
你看到那位负责人说：我觉得这事不对，咱们就不碰，公司也不做。
You saw the leader saying, oh, well, I think this and that, and we're not gonna touch this, and we're not gonna do it in the business.
接着你看到加密货币ETF一推出，就成了我们见过最成功的ETF发行之一，吸引了数千亿的资金管理规模，表现极其出色。
And then you saw the Crypto ETFs launch be some of the most successful ETF launches that we've ever seen, bring in billions and billions of dollars in asset management or AUM, and it was super successful.
所以问题又回来了，因为当初决定完全回避这一切，他们错过了多少潜在收益？
So the question goes back, how much money did they lose out or miss out on because of these early decisions to avoid all of it?
很可能这笔数字相当可观。
And the odds are they are big.
对吧？
Right?
我觉得他们可能是第二大资产管理公司，当然我可能记错了，但我觉得他们确实是排名第二的。
I think they're the second it could be largest, or I could be wrong about this, but I think they're the second largest asset manager.
他们是全球最大的资产管理公司之一。
They're one of the biggest ones in the world.
他们本可以拿下巨大的市场份额。
They could have had a wild amount of market share.
对吧？
Right?
很可能高达数十亿美元。
Likely billions of dollars.
而且，他们确实错过了这个机会。
And, you know, they they missed it.
所以，商业决策和偏见并不总是一回事。
So business and bias or bias and business don't always go together.
没错，总结得非常好。
No, it's a great summary.
这个总结不仅精彩，对任何做业务的人都是个很好的教训，不管是不是关注加密货币。
It's a great summary and a great lesson just in business in general for people whether you're into crypto or not.
我觉得，看看这些数字资产部门的负责人挺有意思的。
Just, you know, I think it's interesting to see these heads of digital assets.
再说一次，提到布赖斯和我可能要去的那个会议。
Again, referencing that conference that Bryce and I might be going to.
我看了下参会名单，虽然现在还是保密的，但如果我们真去的话，肯定能拿到很多高质量的采访。
I was looking at the list of attendees and well, it's a confidential list for now, but you know, I think we're going to get, if we do end up going, it's going to get a ton of good interviews.
去那儿的人里头，很多都会让你吃惊，毕竟那些老牌人物，还有纽约—— arguably 世界金融中心——肯定会吸引大牌人物。
And a lot of the, a lot of the people going there would surprise you because again, it's a lot of names that, you know, the old guards and, you know, New York City being, you know, arguably the finance capital of the world is gonna bring the big dogs.
我对此特别期待。
So I'm super excited for that.
希望我们能尽快敲定这件事。
I hope I hope we get that finalized.
最后来点轻松的，布兰登。
Fun thing to end on, Brendan.
世界杯热潮已经席卷全球。
World Cup mania has taken over the world.
说实话，我自己对足球，不管你怎么叫它，真没那么热衷。
Personally, up, not a huge soccer guy myself or football, however you like to say it around the world.
但不得不说，很多场比赛都太精彩了。
But I will say the these games a lot of these games have been unbelievable.
我是个体育迷。
I'm a sports guy.
我觉得咱们这档播客的听众都知道，我特别爱体育。
I think everybody on the podcast knows I'm a big sports guy.
我就是特别喜欢那些跌宕起伏的故事线。
I just love the storylines.
我爱那些精湛的技艺。
I love the skill.
足球真是人们说的那项‘美丽的运动’。
And soccer truly, the beautiful game as as they call it.
有些比赛简直太精彩了。
And some of these games have been unbelievable.
就像你刚才说的，昨晚阿根廷队那场惊天逆转，真是让人难以置信。
Just the drama that you were talking before the show, the Argentine the Argentinian comeback last night Yes.
那场面，简直不可思议。
For it was unbelievable.
现场看那种比赛，就跟看电影一样。
Like watching that live was actually like cinema.
感觉就像在看电影一样。
It felt like a movie.
不过美国足球队就没那么精彩了。
Now what wasn't a great movie was the US soccer team.
说实话，作为一个资深体育迷，我得说点实话。
If we're being honest, I I I will say as a as a top sports fan, will give a take here.
这支球队之前被吹得天花乱坠。
It's like, hey, this team was hyped up.
小组赛他们赢了不少场，但你知道的，淘汰赛碰上波斯尼亚，结果被淘汰了，接着又遇上比利时。
They won a lot of games in the group stage, but, you know, they they they went out in the knockout round against Bosnia, Sarajevo, and then they move on and they have Belgium.
我先说说这支球队的表现，稍后我再回到加密货币的话题上，我保证——这支球队实在让人失望。
And so kind of teeing it up for for this part, and I'll circle it back to to Crypto in a second here, I promise, is the the team was quite a letdown.
我觉得小组赛的整体水平其实挺低的。
Again, I think the group stage was pretty weak.
你赢了第一场淘汰赛，不错。
You come out, you win your first knockout game, good.
那场比赛你本来就应该赢。
You're supposed to win that game.
这可是第一次真正面对世界前十的球队——比利时。
And and this was the first kind of true test against a top 10 soccer team in the world that is Belgium.
我记得他们在国际足联排名里排第十。
I think they're ranked number 10 on FIFA's international rankings list.
那支队伍里有不少顶尖球员，但美国队可是号称史上最强阵容之一。
And a lot of great players on there, but hey, this this US team is supposed to be one of the best we've ever put together.
我们当然没指望夺冠，但至少有机会。
Not that we can go win the whole thing, but we had a chance.
赛前大家都觉得我们是被看好的一方。
We were favored going in.
比赛在美国本土西雅图举行，全场观众都在加油，结果却打得一塌糊涂。
It's on US home soil in Seattle in front of the whole crowd and they lay an absolute egg.
打得一塌糊涂。
They lay an absolute egg.
真让人失望。
Disappointing.
咱们的顶级球星都没上场，你知道的。
Our top stars weren't playing, you know.
比赛一开始还勉强能跟上，但到后面就彻底被甩开了。
We weren't we weren't really were in the game for a little bit, but it got away from them towards the end.
这表现实在让人失望，就像国际足坛常说的，差距太大了。
And just a disappointing performance, a disappointing gap as they like to say for international soccer players.
所以，布伦丹，我想问问你。
So I pose the question to you, Brendan.
如果美国足球队是一支加密货币，你觉得它是哪一种？
If the US soccer team was a crypto, what would it be?
是比特币、以太坊、莱特币，还是FTX代币？
Bitcoin, Ethereum, Litecoin, or FTX token?
我们还在YouTube上做了一个投票，问问观众们的意见。
And we have a poll here for our friends on YouTube.
我把这个问题抛给了观众。
I put this out to the audience.
结果FTX代币赢了。
And FTX token was the winner.
没错。
Yeah.
有47%的人选了FTX代币。
47% say FTX token.
他们基本上就是在说这支队伍是骗子。
They're calling basically calling them frauds.
我个人投了Litecoin，因为以前它确实让我兴奋过，但我不知道它还能不能再有那样的时刻。
I I I personally voted for Litecoin because, you know, it got at one point, it got me excited, but it I don't know if it will ever again.
我不太清楚是谁把票投给了比特币和以太坊。
And then I'm not sure who's putting in Bitcoin and Ethereum.
我觉得它们配不上这个称号。
I I don't think they deserve that title.
那你对这个投票结果怎么看？
But what do you think of the poll here?
我觉得FTX代币挺搞笑的，但也挺贴切的。
I think FTX token is funny and actually pretty accurate.
对吧？
Right?
一开始情况还不错。
At first, it was great.
我们进展得挺顺利的。
We were doing well.
排名一路往上走。
We were advancing higher up the rankings.
我们在世界杯上也越走越远。
We are making it further in the FIFA World Cup.
结果突然间，一切全崩了。
And then out from underneath our feet, everything's ripped apart.
主场对比利时，一比四，直接被淘汰了。
One to four versus Belgium on home soil, wiped out.
我们本来是热门球队。
We were the favorites.
结果被人割了韭菜。
We got rug pulled.
比赛表现也不怎么样。
And the performance was just not great either.
对吧？
Right?
第三个进球，门将冲出球门却没拦住，那个球可能比FTX被割韭菜还让我难受。
That third goal where we had the goalie coming out of the net and into the field and then letting that goal, that to me might have hurt more than the FTX rug pull.
所以也许FTX代币才是最准的。
So maybe FTX token is the best.
对吧？
Right?
我不是那个意思。
Don't get me wrong.
对吧？
Right?
加油，美国！
Go USA.
我们在这里非常支持美国。
We love America here.
我们只是开开玩笑而已。
We're just bantering a little bit.
对吧？
Right?
就是随便说说而已。
We're just making some jokes.
但看到我们这么被淘汰，实在让人心里难受，毕竟之前那么多期待。
But it was it was a bit of a heart crushing performance to watch us go out like that after how much hype was in it.
我当时根本没在场。
I was out for this.
我到处逛，就在城里转悠。
I was out and about, out in the town.
气氛简直炸了。
It was electric.
我的天，酒吧外面挤了成百上千人，就为了往里看，就为了看这场比赛。
I mean, there were hundreds and hundreds of people crowded around the outside of the bar just to look into this thing, just to watch it.
我们进了一球，把比分扳成1比1。
We scored to make it one one.
现场能量爆棚。
Electric energy.
可他们紧接着就进了，什么？
And then they score, like, what?
几秒钟后，他们连进两球，接着又在比赛结束前打进了第四球。
Like, seconds later, they score the second goal, and then the third, then the fourth right before the game ends.
是啊。
And yeah.
说实话，这比FTX跑路还让人难受。
Probably hurt more than the FTX rug pull, honestly.
好的。
Alright.
不过投票还在进行中。
Well, the the poll's still up.
还剩几个小时。
There's a couple hours left.
如果你在YouTube上看这个，去投个票吧。
So if watching you're this on YouTube, go give it a vote.
我真想问问那些投比特币的人，我觉得这不太对。
I do wanna talk to whoever voted them as Bitcoin because I I don't think that is.
我觉得梅西在阿根廷，可能是这群人里最像比特币的。
I think Messi is in Argentina might be the Bitcoin of the group.
真的很感谢大家在周三这个工作日抽空收听。
But really appreciate everybody tuning in midweek here on a Wednesday.
非常感谢。
Thank you so much.
周五我们会再回来，和Brian一起聊。
We will be back Friday with Brian.
那场直播一定会特别精彩。
That's gonna be a really fun live.
我们会继续带来优质的访谈内容。
We'll continue to put out great interviews.
非常感谢每一位每周都收听的观众。
We really appreciate everybody who tunes in every week.
非常感谢。
Thank you so much.
我们下次再聊，今天就先到这里了。
We'll talk to you soon, but that's all for now.
大家再见了。
Bye bye, everybody.
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