Everything now has become political. There's got to be a level of frustration going on in Washington that's going to spill over into our industry. As an assistant to the president, I failed. I mean, I got fired after 11 days. I was in violent disagreement with the president about certain things, and he doesn't like listening to people. He likes them listening to him. I don't see anybody that is against the president that's going to allow him to have a win in cryptocurrency policy right now. This is one of the things that I really want to be wrong about.
I'm Daniel Carrey from Being Crypto. Anthony Scaramucci has worn many hats. Today he's here in his role as a strategic advisor to Alphaton Capital. So Anthony, thank you for being here, and let's start with tell us more about Alphaton.
Listen, I mean there's a lot there. So let's start with the big summary, the big takeaway. You know, we believe in TON. This security. Now the problem with TON right now is like everything else in the marketplace, completely getting destroyed. And so, I don't think anything material is going to happen in Alphaton or other TON, other layer one assets until we get the full-on Clarity Act, you know. So I mean the good news is for me, I'm a big believer in Brittany Kaiser who you know, and she is basically the former Cambridge Analytica whistleblower. She's a huge tech entrepreneur. She's a real genius and visionary. Enzo Villani who's the executive chairman and CIO is a very close personal friend of mine. And you know, I'm making the bet that there'll be a combination of things inside that story. They'll make some strategic acquisitions. They'll buy some interesting things. You know, I think they signed a $30 million lease for 504 Nvidia B20 GPUs in Canada. They expect those revenues to start percolating by the end of this month. They've got a $46 million agreement as well where they brought on some more AI processing power. And so while Telegram and TON are not doing well in the context of overall crypto, they're building what I think is an ecosystem around Alphaton which will have a couple of different things in it. It'll hopefully have a transaction lane for the billion plus users in Telegram. It'll have a gaming lane. It'll have an AI lane. And then believe it or not, they still have some immuno-oncology therapeutics. You know, the original company, the legacy biotech in there is basically, we think that if they can license that out, there's a potential $100 million worth of licensing revenues there. So I mean, stock's gotten crushed. I mean, I'm not a non-realist. I mean, I'm looking at the situation, made the investment at $10 level, stock's at 59 cents. You know, we've gotten our faces ripped off for right now, but I do believe that we're going to pull this thing together and I believe that even though it looks like a microcap stock right now, it's pivoting aggressively into these other areas. So I like it, but I think really for me, it's more of a management investment in Brittany. I sort of feel like she's going to pull things off. I don't want to be without her in my life. I mean she's somebody in my mind that we should have portfolio exposure to.
Yeah, and we did have a conversation previously with Brittany and there is an article on Being Crypto related to a lot of this. So Anthony, there's a lot to unpack there. I think the first thing that I wanted to talk to you about is you first started talking about the Clarity Act and that's related to crypto regulation. So you do have some experience in Washington D.C. You did have a cup of coffee with the first Trump administration.
Failed experience. Yeah, I mean listen, I've been in and around Washington for three decades, but as an official advisor, as an assistant to the president, I failed. I mean, I got fired after 11 days. Lot of stories about why, but the main story was I was in violent disagreement with the president about certain things and you know, he doesn't like listening to people. He likes them listening to him. It's a big problem in the current war, but go ahead.
Yeah, no. And feel free to go ahead and extrapolate where you want to as I'm asking these questions, but what I was saying is that you have this experience in Washington. You did talk about the Clarity Act. Like where do you see crypto regulation? Like how are you feeling about it despite how poorly the market has performed? Like where do you see the outlook for, obviously our audience is people who are very interested in crypto, maybe often times have been in crypto for a very long time and are very bullish. So what can you tell those people about the Clarity Act and where you think things are going to go throughout the rest of this administration?
Well, I mean listen, the Clarity Act has frankly been stalled by the administration. And basically there's like three or four layers to that, right? So first layer was Trump is launching meme coins before his inauguration, pocketing six, seven hundred million dollars. That puts a big sour taste in the mouth of his adversaries. Even those Democrats that may like crypto, they don't want to necessarily give the president a win. Number two, when you're telling people that you're going to attack our allies like Greenland and try to take control of Greenland even though it's in the territorial domain of Denmark, a NATO nation that we have a signed treaty with and we have a treaty with them going back to 1951 related to Greenland where we can basically do whatever we want in Greenland to protect Western liberalism and protect Western democracies. That's layer two. So again, even though that's not directly related to crypto, his adversaries look at that sort of behavior and say, well, we don't like that behavior and so therefore we want to be opposed to whatever the president's for. And then layer three, which I think is not fully, frankly it's not fully digested yet, is the Iranian war. So we have a unilateral war going on. He doesn't notify the Congress. He doesn't seek support or solicitation from the American people. And you know, he says the war is over and that he's decimated them, but then his secretary of defense, I won't call it war, so the secretary of defense is saying that they need $200 billion. I'm going to say that like Dr. Evil, you know, $200 billion to I guess beat the people that quote unquote the president said that we've already beaten. So you know, this is the stuff that if you're an adversary of his, you're looking at this and saying, okay, can't give him a win. So you know, I would like to see the situation where crypto goes into post-partisan mode where people get it out of the tribalism and they say, hey, this is really good for the country. This is really good for financial services. This is really good for US leadership. It's sort of our mantle of financial services leadership for the last 125, 130 years. It'd be important for us to have non-partisan regulatory policy. But we're not there yet. So the buoyancy in crypto prior to October 10th of 2025 was related to those two pieces of legislation getting done. And so those two pieces of legislation didn't happen. The Clarity Act now I would say for all intent and purposes in limbo. You know, there are people in the administration and in Washington saying it's going to get done. I hope that they're right. I really want to be wrong about this, but I think in this environment, it's going to be nearly impossible to get 60 votes, the 60 votes necessary to clear the filibuster. So that's why Alphaton and TON are not doing well. Avalanche not doing well. Solana not doing well. That's why you've seen a correction in Bitcoin even though there seems to be ETF and institutional buying of Bitcoin. I think generally until we can clear these regulatory hurdles, you're not going to have the aggressive demand that we'd like to see, right? So what is Brittany doing in an environment like that? She's pivoting and trying to come up with other things to do for the Alphaton business which you know, I'm hopeful that she'll be successful, but you're asking me about this stuff and I don't mean to make this overly political because this is more of a crypto show, all things crypto and podcast, but unfortunately everything now has become political. You know, the economy has become political. You want to declare war on somebody. Allies are not with you. You know, there's reports today that Netanyahu is trying to stop the administration from meeting with secularists in Iran that could potentially declare peace. Every time there's a person that's willing to negotiate with Americans, they get killed by the Israelis. Right. So that's going to continue to lengthen the war. Yeah. And I think there's got to be a level of frustration going on in Washington. And so that's going to spill over into our industry. You know, I don't see anybody that is against the president that's going to allow him to have a win in cryptocurrency policy right now. And Daniel, if I'm wrong, this is one of the things that I really want to be wrong about. You know, I hope to God that everything I just said the opposite happens and they pass the Clarity Act tomorrow night and you'll see a face ripping off rally.
Right. Because I can tell you the marketplace is where I am. Well, I'm not going to say you're going to be wrong about a face ripping rally if clarity is passed. I mean, I would hope it's tomorrow, but you know, who knows. You are right in that we should probably move a little bit away from the political stuff. And so, the one thing that I think you have talked about is about Alphaton and its strategy in particular. So, a lot of these digital asset treasury companies or DATs started out as they were just holding crypto. And now it feels like a lot of them are moving into diversified businesses, and it seems like Alphaton is doing that as well. Is this really like the future of these businesses where they're actually very diversified? And how far do these companies go diversifying out of just holding crypto?
Yeah. I mean, again, these are great questions. So, let's talk a little bit about Bitmain, right? You saw the Mr. Beast trade with Bitmain. They took $200 million of their cash, put it in there. Bitcoin Bitmain has rallied. It's going back the other direction now, but it rallied in the last few weeks. I basically think that you're in this business to print net operating profits and net operating income. Okay. And so, something like Bitmain immersion or Alphaton is to me, I think it's important to diversify away because you know, I mean, this is my opinion. Unless you're Michael, unless you have this pure play on Bitcoin and you have figured out the reason why you can trade at a 1.2, 1.3 MNAV is that you just have a better mouse trap for borrowing, you have a better ecosystem for capital management, capital markets management. These other companies I think have to be more facile with their diversification. And I think they have to print operating income. And so, if Alphaton is able to print operating income, and then they use it successfully to buy more Alphaton or to buy more Bitcoin, I think that's going to be buoyant for the stock, you know? Yeah. But I do think that there's a bear market in a lot of things, but one of the real bear markets is in the digital asset treasury front. Take a look at all of the digital asset treasuries. Yeah. And they have been more or less hammered. You know, Bitmain down as of today's price is 25% over the last year, they're almost two to one. But, you know, this is what bear markets are made of.
