Smart Money Just Abandoned Bitcoin Treasuries — Saylor Could Be Next.

Jack Malers is out at 21 Capital — and the hosts aren't buying the official story. Meanwhile, Satsuma shareholders just voted to liquidate their 600-odd bitcoin and delist from the London Stock Exchange, and Lynn Alden is launching Orange Juice right into this wreckage. The timing could not be more awkward. In this episode: • Jack Malers steps down as CEO of 21 Capital — the panel debates whether the board actually removed him, why the stock is down roughly 50%, and what a return to Strike-focused work might mean for him • Satsuma, with Mark Moss as chief Bitcoin strategist, votes to sell its bitcoin and exit the London Stock Exchange — raising questions about whether the pure-play treasury company model is broken • Lynn Alden's Orange Juice venture gets a deep look — Walker recorded with her that day; the model buys cash-flowing, AI-resistant small businesses and uses free cash flow to accumulate bitcoin rather than playing capital-markets games • The Clarity Act's latest draft bans elected officials and their spouses from issuing digital assets — a pointed reference given Trump and Melania's prior memecoin profits • S&P launches its first crypto index holding 18 tokens led by ETH, BNB, SOL, and Hyperliquid — with Bitcoin excluded entirely • Gross domestic income data shows wages are now just 43 percent of US GDI, near the lowest since 1929, and a Zero Hedge piece ties money printing directly to socialism's rise • Libbitcoin, Eric Voskuil's alternative node implementation, achieves a full initial block download with complete validation in 55 minutes using GPU-based batch signature verification Watch the video version: https://youtu.be/45dpOu_6dr8