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APU Deep Dive

Why APU has no roadmap, how Alex made his money, Giga's movie, politics, buying back the drained NFTs, who runs APU now, then long debates on hyper-rotation and staking for yield.

10/18/20262h 40m13 frensOriginal X Space

About this recording: Audio may be trimmed to remove silence, dead air, or other sections from the original X Space. The length and transcript timestamps may differ from the original.

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Overview

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Don plans to host every Sunday, and this one opens on a chat comment, which Don attributes to Bain, asking whether Alex has a plan to make the price go up. Alex's answer is no: roadmaps are vaporware, and people hold APU for the meme. The first hour covers annuity loans, how Alex made his money with GPU Shack and 600 Bitcoin, Giga's APU movie, Ramza's burnout and Alex's news that Green has sold all 6.5 billion of his APU, then turns political: immigration in France and England, the Fed, psyops and the AI bubble. Back on APU, Alex explains how the drained NFTs were bought back from the hacker with treasury money and says nobody needs permission to build now that the old group's money is gone. The second half is two long arguments, one with LilyBux over whether hyper-rotation has killed long-term meme coins, the other with Rugrat over staking for yield, which Alex calls a bad trade.

Chapters

12
  1. 01

    • Don reads out a chat comment he attributes to Bain: does anyone know if Alex is planning to make price go up? Alex says the old team blocked him all at once, and Bain banned him from a group chat.
    • Reading from his notes, Alex says the market now treats white papers and roadmaps as vaporware, and that publishing a plan only placates existing holders, which he calls dishonest.
    • People hold APU because it is "the most used, most culturally relevant" meme in crypto, he says. Anyone who wants a plan should buy a VC-backed tech token.
  2. 02

    • With about $100,000 in an annuity, Don wants to become a whale. Alex suggests an annuity loan if he needs cash, then waiting a couple of years for rates to fall and buying outside New York: "twice as much house for half the rent".
    • Cash paid for Alex's own house in 2017, about $675,000, and he puts it close to a million now.
    • From 2016 to 2018 he ran GPU Shack, reselling miners' graphics cards to gamers, then sold miners a hardware and software bundle at about $39 a license, roughly 250,000 licenses in all.
    • One buyer paid about 600 BTC when Bitcoin was $200. Alex held to $13,000 to $15,000, sold it all for physical gold, which he says has tripled since, and kept about 25% in crypto. His rule: "size doesn't compensate for edge".
  3. 03

    • Giga's APU movie is slow going, with rewrites. In 2021 his colleagues talked crypto in the office corridors, he says, and nobody does now.
    • Alex's own top signal: in 2024 a valet offered him a better parking spot for Solana.
    • Since Blew dropped the Pond Talk handle, Giga had been waiting to claim it. Alex says the account that took the name is Maxi's lookalike with one letter swapped, and that the real handle no longer exists.
  4. 04

    • Ramza is streaming games and staying away from crypto for his mental health. What burned him out was the community, and "the happy thing".
    • Rugrat got a mortgage just under 3% last cycle. Ramza says rates are near 8% now and a house is out of reach even though he and his wife both work. Alex: "you have to be rich to afford being middle class now."
    • Green has sold all 6.5 billion of his APU, Alex says, "buck broken by the market", and lost about half his money on APU and Happy NFTs.
    • Staying off crypto Twitter and managing stress is Rugrat's secret. He's glad Ramza burned out, since it makes a better investor, and Alex calls it a bullish burnout.
  5. 05

    • Protests in France start it off, raised by Giga. Ramza says both leading parties in next year's election are extreme, and Rugrat and Giga describe France and England as changed beyond recognition in 10 to 20 years, which Rugrat ties to immigration. Alex and Don say the same of Indian communities in Dallas and Long Island.
    • The Fed, not politics, is what Alex watches. The same talking points come back every election, he says, nothing ever changes, and he thinks things are building towards a crescendo that voting won't be part of. He likes Nick Fuentes's rhetoric but hears it as what was said 20 years ago.
    • Ramza fears a recession and an AI bubble bigger than the dot-com crash. Alex calls the whole financial system "100% fraudulent", with printed money funneled to AI and big tech.
    • On the gender war, Alex says women hold power only because men allow it, so men could force them to do "pretty much anything", adding that whether that would be moral is "a different story". Ramza doesn't see society going that way short of a global disaster.
  6. 06

    • Trump's second term was supposed to make Don a millionaire, and he had about $50,000 of APU going in. A whale-sized bag is now worth about $11,000, against roughly $1.2 million at the top.
    • Meme coins will come back, Alex says, or he wouldn't be in APU, though he thinks the market will tire of getting rugged and settle on the best memes.
    • APU NFTs are a derivative of the token, Alex says, so they fell with it. The floor is about $77, up 34% after Lord Spitta bought five.
    • LFG holds about $16,000 of APU NFTs, "a fraction of the true value", and expects the Kraken delisting to spread APU across many new wallets.
  7. 07

    • LFG got his drained NFTs back, and Don credits Alex, who says he took a page from Ramza's book and negotiated with the hacker.
    • About $10,000 went to the hacker from the treasury, not from Alex's own money. He has collected about $6,000 back from contributors and is chasing two more.
    • The treasury holds 500 million APU and 120 NFTs, by Alex's count.
    • OpenSea still marks the recovered NFTs as compromised. Alex blames its monopoly: Blur has shut down and Magic Eden stopped trading Ethereum NFTs in March.
  8. 08

    • Justa asks who is in control now that "the dude that was robbing y'all" is gone. Don says he thinks 5G mishandled funds rather than robbed anyone and disputes the 300 ETH figure; Alex says he has already given the details many times.
    • APU is moving to decentralized governance, Alex says. The old group has moved on to another project, and because they no longer have any money, "their methods of control no longer exist".
    • Before, he says, 5G controlled the community wallet and the apu.io domain and had the final say, and projects from people the group disliked never got promoted. The plan now is features that let anyone take part without asking permission.
    • Anyone in profit must have bought below a 4 million market cap, Alex says. Don puts the all-time high near 500 million.
  9. 09

    • Giga's movie slips to next year. He wants it out "when we're bubbling" and admits he has been a little lazy with it.
    • He can't write dialogue and doesn't know what Apu should sound like. Alex suggests subtitles and weird noises, as in Crash Bandicoot, and Giga takes the idea, since subtitles also make translations easy.
    • Asked when the market turns, Alex says the charts always put it three to six months away and it could crab up for a year before going parabolic. Don and Giga blame the Trump coin, tariffs and war; Alex calls all of it downstream of the global liquidity cycle.
  10. 10

    • LilyBux asks whether meme coins are over, with money chasing whatever trends that day. Alex points to Dogecoin and Pepe; LilyBux says old coins like Doge are propped up by ancient whales and market makers.
    • Memes that live in the zeitgeist outlast AI traders flattening everything else, Giga thinks. Alex says you have to believe in the tokenized community thesis, and that APU stays relevant outside its own community where Peanut and Jimothy did not. He values it on how long he saw the frog before it was a coin, having been on 4chan since 2004.
    • A "face melting" bull run needs real rates, near 2% now, to head toward zero, Alex says. Rugrat credits enterprise money for his wallets being up since January; Alex says every cycle claims that and retail still makes the top.
    • Rugrat makes about $500 a month on $50,000 in a stablecoin vault and holds Shib and Doge plus infrastructure and privacy plays like Link, Ondo, Morpho, Zcash and Zama. Alex warns that stablecoin yield funds de-peg and get rugged in bear markets.
  11. 11

    • Holding long enough to see a position realized is how Alex made his money. LilyBux argues the market will always chase the newest thing because that is where the edge is, and asks why traders never rebid a coin after its dev dumps.
    • If rotation is bearish for APU, Alex asks, why hold it? At this market cap it is cheap insurance, LilyBux answers, and its deep liquidity pool could catch size bids once ETH is up two to four times.
    • Alex has no edge in hyper-rotation and won't run "100 agentic AI instances" to get one. He wants to market APU as having a provable human element, the opposite of all that. LFG expects people to go to jail over bundled launches; LilyBux asks what the crime is.
    • LilyBux is demoralized that a single tweet can out-trade 20 blue chip coins. Everyone in a bear market finds their own reason to be demoralized, Alex replies, and this is LilyBux's.
  12. 12

    • Nobody here sounds bullish enough for Rugrat, who says the bull run has already started. He swing-trades USDC and USDT on Curve and earns over $5,000 a month staking more than $200,000.
    • Risking $200,000 to make $5,000 a month is a bad trade, Alex says, and Link and Hype staking exists to trap retail liquidity. LilyBux has watched people lose staked portfolios every cycle.
    • Rugrat's exit plan is to take out 1% for every 10% rise. He expects ETH at $10,000 and points to Zama, which he says launched at half a cent and trades around 7 to 8 cents.
    • After two and a half hours Alex leaves. Rugrat says he found APU through Justa, then wins Don's APU NFT giveaway, and Don plans to host again next Sunday.