Onramp Bitcoin Media

Strategy's recent sale of 32 Bitcoin came with unusual framing: Michael Saylor said the purpose was to "inoculate the markets." Glenn Cameron, Global Head of Institutional at Onramp Bitcoin, reads that word as preparation for larger Bitcoin sales ahead, walks through the STRC prospectus and the pressure points (Strategy now trading at 84% of NAV, the cash reserve cut to roughly seven months after redeeming a 0% convertible note, the board-suspendable dividend), and lands on the sharpest argument: 83% of STRC holders are retail investors sold a product marketed as "a high yield bank account" that's structurally junior equity on a volatile Bitcoin company.---🎙️ About This EpisodeGlenn Cameron, CFA, Global Head of Institutional at Onramp Bitcoin, joins Laura Shin to break down the STRC prospectus and argue that Saylor's "inoculate the markets" framing of Strategy's 32 BTC sale signals larger sales ahead. Glenn walks through the pressure points: Strategy trading at 84% of its Bitcoin value (so new equity issuance dilutes Bitcoin-per-share for existing holders), the cash reserve sitting at roughly seven months after redeeming a 0% convertible note, and STRC's board-suspendable dividend. He returns to the heart of the case: 83% of STRC holders are retail investors sold a product marketed as "a high yield bank account" that's structurally junior equity with no maturity, no FDIC protection, and no redemption right. Plus the 2028 cliff where $3.5B in convertibles become putable, the SATA-vs-STRC comparison, the "digital credits" naming critique, and why Bitmine's upcoming BMNP staking yield won't cover its cost of capital.🧠 Chapters00:00 - Welcome, sponsors, and Glenn's introduction01:04 - Risk vs uncertainty: Glenn's framework for analyzing Strategy04:07 - What 'inoculate' really means: Saylor preparing the market for bigger Bitcoin sales06:38 - Strategy below NAV: why issuing new stock now dilutes Bitcoin per share12:13 - The dilution spiral: Glenn's response to people calling Strategy criticism FUD19:37 - Strategy's last option: suspend the dividend (and what that does to retail)23:42 - The 2028 cliff: $3.5B in convertibles become putable27:30 - Why sell only 32 Bitcoin: changing the narrative for future sales30:42 - The 'digital credit' name and the Moody's analysis: how STRC is classified 100% equity35:53 - Saylor's own words: three claims that STRC is a high-yield bank account40:34 - STRC vs money markets and FDIC: what the actual product looks like44:30 - The confidence game: why MSTR needs premium-to-NAV to keep the flywheel turning48:02 - SATA vs STRC: same instrument, different coat of paint55:22 - Bitmine's BMNP: Tom Lee's ETH-backed preferred and why the wrapper is doubly flawed01:01:00 - What Glenn would advise: don't drain the cash reserve💡 Subscribe & Stay AheadConnect with Laura Shin:https://x.com/laurashinConnect with Glenn Cameron:https://x.com/GlennOnrampBTC🎧 Subscribe to Unchained for more high-signal interviews on crypto, finance, and macro:https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=ec9517a508a34436

The Last Trade: Mark Yusko, CIO of Morgan Creek Capital Management, joins to call the SpaceX IPO and the broader AI capex wave the greatest bubble in the history of markets, why Elon's $1 trillion XAI revenue promise by 2030 is securities fraud, how DeepSeek is poised to break the AI bubble by doing what OpenAI and Anthropic do for 5 cents on the dollar, why Bitcoin's Metcalf's Law fair value already sits around $125,000 even as price trades closer to $60K, his specific October 5 cycle-bottom call for the next crypto spring, and the brutal truth that the 1986 Tax Act and the rise of the 401k were a heist on the American middle class.---🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Onramp Finance: https://onrampbitcoin.com/finance👉 Sign up for Genesis: https://onrampbitcoin.com/finance#gen..📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeMark Yusko, CIO of Morgan Creek Capital Management, joins Jackson and Michael to reframe the current setup as a classic late-cycle bubble forming around AI and SpaceX while Bitcoin sits hated and on sale. He calls Elon's $1 trillion XAI revenue tweet a textbook securities fraud, shows how the Intel pattern from 1990 to 2000 (up 20x, then down 87%) is repeating in semiconductors today, and explains why a SpaceX moon data center is physically impossible. On the bullish side: DeepSeek doing what OpenAI and Anthropic do at 5 cents on the dollar, Metcalf's Law fair value for Bitcoin sitting around $125,000 (per Tim Peterson at N Squared Value), and Mark's specific October 5, 2026 cycle-bottom call with crypto spring to follow. Plus the three-bucket savings framework, why 99.5% of prediction-market accounts lose money, and why the 1986 Tax Act was a quiet heist on corporate pension funds.🧠 Chapters00:00 - Introduction and Consistency in Podcasting02:56 - The Challenges of Building and Execution08:37 - The Intersection of Sports and Market Trends09:02 - Market Sentiment: AI, SpaceX, and Digital Assets19:21 - The Bubble of Innovation and SpaceX's Promises28:10 - Liquidity Cycles and Capital Allocation in Markets40:55 - The Evolution of Networks and Value51:46 - Understanding Market Dynamics: Investors vs. Traders vs. Gamblers01:01:51 - The Importance of Long-Term Investment Strategies01:09:30 - The Role of Innovation in Wealth Creation01:17:52 - Final Thoughts on Investing and Gambling💡 Subscribe & Stay AheadGet Onramp's weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

The Last Trade: Matt Dines, CIO of Build Asset Management, joins to lay out the seismic monetary reshuffling underway in 2026, the unwind of the post-Bretton-Woods offshore-dollar system that ran the global economy from 1971 to 2022, why LIBOR's deprecation and the SOFR transition quietly moved the dollar's command center from London to New York, Scott Bessent's strategy to monetize the asset side of the Treasury balance sheet through the GENIUS Act stablecoin and a Bitcoin reserve targeting 1 million BTC, Tether's December 2023 alignment with the American Sovereignist movement, and the contrarian read on MicroStrategy as a "dollar strategy" rather than a Bitcoin strategy.---🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Onramp Finance: https://onrampbitcoin.com/finance👉 Sign up for Genesis: https://onrampbitcoin.com/finance#gen..📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeMatt Dines, CIO of Build Asset Management and author of "The Offshore Dollar Is Being Left Out to Dry" on mindprinthash.com, joins Jackson, Brian, and Michael to walk through the structural shift in the global dollar system that he argues is the single most important macro story of 2026. Matt traces the unwind of the post-Bretton-Woods offshore-dollar (eurodollar) system back to 2008, explains how the Federal Reserve's deprecation of LIBOR in favor of SOFR moved the dollar's command center from London to New York, and frames the 2024 election as a fork in the road between Biden's CBDC path (EO 14067) and the Trump / Sovereignist asset-backed dollar path. He details the playbook unfolding under Scott Bessent and Treasury: the GENIUS Act stablecoin as the bridge, a Bitcoin reserve targeting 1 million BTC (per Congressman Begich's American Reserve Modernization Act, the successor to Senator Lummis' Bitcoin Act), and gold becoming the biggest liquidity pool while the offshore dollar drains. Matt argues that Bitcoin is NOT yet seen as a risk-off asset by the market, but the long-term setup points there. He reframes MicroStrategy as a "dollar strategy" rather than a Bitcoin strategy: borrowing US onshore equity-market liquidity at 11-13% to go long Bitcoin priced primarily in the OLD offshore-dollar (Tether) standard, with major implications for stretch and the broader DAT trade. Plus historical parallels (Civil War greenbacks transitioning to the gold-pegged dollar of 1875; silver certificates phasing out for Fed notes from 1957), Tether's December 2023 alignment with the American Sovereignist movement, the Schwab UTXO Bitcoin custody rollout, and how to position for the most violent middle innings of this dollar transition.🧠 Chapters00:00 - Introduction and Context Setting01:52 - Monetary Reshuffling and Global Dynamics12:50 - The Shift from Liability to Asset-Based Dollar20:51 - Implications for Investors and Capital Allocation26:31 - The Future of Bitcoin in the New Monetary Order35:12 - The Future of Currency: Asset-Backed Dollars42:32 - Tether's Strategic Shift and Geopolitical Implications46:07 - Fragmentation in the Bitcoin Space52:30 - Corporate Strategies and Market Dynamics61:29 - The Integration of Bitcoin into Traditional Finance💡 Subscribe & Stay AheadGet Onramp's weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media...Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.This week Brian, Michael, and Liam cover the SpaceX IPO and the capital-rotation narrative around Bitcoin, the Bernie Sanders / David Sachs debate over government equity stakes in AI companies, the Zcash inflation bug that allowed unlimited mint for four years before Claude caught it, JPMorgan's tokenized-deposit consortium with Citi, Bank of America, Wells Fargo, and Chase, the Stripe / Visa / MasterCard stablecoin consortium, Morgan Stanley's Galaxy partnership letting high-net-worth clients lend Bitcoin for in-kind ETF conversions, Tether's first gold-backed Visa card, the US sanctioning Iran's largest crypto exchange Nobitex, and the Polymarket MicroStrategy resolution controversy.Chapters00:00 - The State of Digital Assets01:13 - Upcoming IPOs and Market Dynamics05:54 - Contrasting Views on Investment Strategies08:19 - Long-Term Perspectives on Bitcoin14:11 - Speculation vs. Saving in Investments18:32 - Government Involvement and Market Bubbles25:22 - Zcash Inflation Bug and Crypto Vulnerabilities31:12 - Tokenization of Deposits and Future of Banking34:12 - Understanding the Future of Investment and Money35:56 - The Role of Traditional Finance in Digital Assets37:11 - Morgan Stanley's Bitcoin Lending and ETF Strategy40:54 - Market Timing and ETF Launches42:48 - The Evolution of Wealth Management and Asset Preservation44:40 - Stablecoins and 24/7 Trading in Crypto Markets49:05 - US Sanctions and the Impact on Crypto Markets52:59 - Tether's Gold-Backed Innovations55:19 - The Future of Agentic Payments and Prediction MarketsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/

The Last Trade: Chris Kuiper, VP of Research at Fidelity Digital Assets, returns to make the case that this is the worst sentiment he has seen in his decade-plus following Bitcoin even though nothing fundamental has actually broken, why Bitcoin is finally decoupling from the AI-led "everything-but-Bitcoin" rally, how Fidelity's updated "Getting Off Zero" report uses mean variance optimization to show a 90/0/10 stocks-bonds-Bitcoin allocation maximizing the Sharpe ratio at a conservative 25% Bitcoin CAGR assumption, why bondholders have spent decades underwater on a real-return basis, and why the Czech National Bank's small but symbolic Bitcoin position may be the start of central bank adoption gradually then suddenly.---🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Onramp Finance: https://onrampbitcoin.com/finance👉 Sign up for Genesis: https://onrampbitcoin.com/finance#gen..📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeChris Kuiper, VP of Research at Fidelity Digital Assets, joins Jackson, Brian, and Michael to walk through Fidelity's updated "Getting Off Zero" report and reframe the current Bitcoin drawdown for sophisticated allocators. Chris argues the sentiment is the worst he has seen in his decade-plus in the space, but nothing fundamental has broken; Bitcoin is simply finally decoupling from the AI-momentum rally, which is the diversification benefit allocators actually want. The episode covers Bitcoin spending ~96% of its history below all-time highs (so being underwater is the default state, not a signal), the four-year cycle's diminishing predictive power as derivatives smooth volatility, and the mean variance optimization that pops out a 90% stocks / 0% bonds / 10% Bitcoin portfolio at conservative assumptions (25% CAGR, 50% vol). On the macro side, Chris reiterates his 2026 look-ahead view that inflation comes back in waves, points to bond yields rising globally as the bond market sniffs out higher-for-longer, and revisits the 30-50% real drawdowns bondholders endured from the 1940s through the 1980s. Plus the Czech National Bank's symbolic but precedent-setting Bitcoin allocation, why advisor excuses for zero-allocation have shifted from "it's a Ponzi" to "I don't know how to operationally hold it," and why a zero allocation is now itself an active position requiring justification.🧠 Chapters00:00 - Market Sentiment and Current Trends03:05 - Understanding Bitcoin's Price Action06:03 - The Role of Education in Investing09:08 - Long-Term Trends and Market Cycles11:46 - Evaluating Bitcoin's Role in Portfolios15:05 - Institutional Perspectives on Bitcoin18:01 - The Future of Bitcoin in Investment Strategies34:23 - Understanding Money and Bitcoin's Value36:11 - The Role of Financial Advisors in Bitcoin Investment37:29 - Mean Variance Optimization and Bitcoin's Portfolio Role42:10 - Shifts in Institutional Sentiment Towards Bitcoin48:28 - Navigating Inflation and Market Uncertainty58:46 - The Future of Stablecoins and Central Bank Adoption💡 Subscribe & Stay AheadGet Onramp's weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.This week Brian, Michael, and Liam cover MicroStrategy's first Bitcoin sale and the broader DAT unwind, Jamie Dimon's Clarity Act outburst against Coinbase, the AI IPO wave that Michael Burry compares to the 2000 dot-com peak, the CFTC approving Coinbase's first onshore BTC perpetuals, Falcon X's confidential IPO filing, Cash App and SoFi rolling out stablecoins to retail, MasterCard's NY BitLicense, and Binance launching tokenized shares.Chapters00:00 - Welcome Back and Market Overview00:46 - MicroStrategy's Bitcoin Sale and Market Sentiment08:06 - The State of Digital Asset Firms11:32 - Jamie Dimon's Stance on Stablecoins and Financial Rails22:53 - AI's Impact on Markets and Upcoming IPOs39:03 - CFTC Approval and Coinbase's Expansion40:41 - Falcon X IPO and Market Dynamics45:58 - Market Sentiment and Investment Strategies49:22 - Stablecoin Integration and Cash App's Innovations53:32 - SoFi's Stablecoin Launch and Regulatory Landscape56:01 - MasterCard's Bit License and Market Implications58:07 - Tokenized Stocks and the Future of Digital AssetsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly: https://www.earlyriders.com/researchKeep up with Michael: https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam: https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian: https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/

The Last Trade: Vijay Boyapati, author of The Bullish Case for Bitcoin, joins to argue the bottom is in on what he calls a relatively shallow bear market, why the $100K-era whale distribution into ETF hands sets up a stronger base for the next run, what Charles Schwab onboarding 40 million clients through a Bitcoiner-led trading platform means for adoption, the Clarity Act expected to pass in the next month or two, and where Michael Saylor's stretch preferred-share strategy is starting to add real risk to Bitcoin.---🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Onramp Finance: https://onrampbitcoin.com/finance👉 Sign up for Genesis: https://onrampbitcoin.com/finance#gen..📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeVijay Boyapati, author of The Bullish Case for Bitcoin, joins Jackson and Michael to walk through where Bitcoin sits in this "everything-but-Bitcoin" rally and why he's still bullish. He frames the current drawdown as a shallow bear market compared to 2014, argues the bottom is in, and explains why the $100K-era whale distribution (Galaxy alone reportedly sold $9B) actually sets up a stronger base because Bitcoin is now in the hands of ETF holders with a 2-4% allocation and an $80-100K cost basis. Vijay also covers the Charles Schwab crypto platform rolling out to 40 million brokerage clients (led by a senior Bitcoiner exec), the Clarity Act expected to pass within the next month or two, the political-capture moment marked by Sherrod Brown's unseating, and why Michael Saylor's third-level financial engineering through stretch has found product-market fit (mostly retail, ~80% of demand) but is starting to introduce leverage risk into the Bitcoin system. Plus a brief tangent on AI as a personal productivity superpower.🧠 Chapters00:00 - Introduction to Bitcoin Sentiment02:57 - Current Market Dynamics and Bitcoin's Performance05:46 - Comparative Analysis of Past Bear Markets09:05 - Opportunity Cost and Investment Strategies11:58 - AI vs Bitcoin: Market Dynamics15:12 - The Role of ETFs and Institutional Adoption18:12 - Whale Behavior and Market Psychology21:04 - The Future of Bitcoin: Adoption and Growth24:13 - Regulatory Landscape and Political Capture34:03 - Political Capture and Adoption Dynamics36:00 - The Role of Retail in Bitcoin Adoption38:04 - The Clarity Act and Its Implications40:02 - The Future of Bitcoin Adoption44:01 - Treasury Companies and Market Dynamics51:49 - Financial Engineering and Risk Management59:13 - The Impact of AI on Personal Productivity💡 Subscribe & Stay AheadGet Onramp's weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

The Last Trade: James Seyffart of Bloomberg Intelligence joins to break down the sentiment divergence between beaten-down crypto Twitter and a TradFi apparatus that's finally all in, Morgan Stanley launching MSBT at a market-low 14 bips with a 2-4% Bitcoin recommendation across 17,000 advisors and $7T+ in assets, Mike Wilson's 60/20/20 portfolio call adding 20% gold, and why the boomer diamond hands held through the drawdown while the basis trade collapsed from 10%+ to under 5%.---🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Onramp Finance: https://onrampbitcoin.com/finance👉 Sign up for Genesis: https://onrampbitcoin.com/finance#gen...📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeJames Seyffart, ETF analyst at Bloomberg Intelligence, returns to talk through the two parallel stories playing out in digital assets right now. Crypto Twitter is beaten down while TradFi quietly takes over the rails. Morgan Stanley's MSBT comes in at 14 bips, the lowest fee on the market, and turns on a 2-4% Bitcoin allocation across 17,000 advisors and $7T+ in assets. Mike Wilson's 60/20/20 call gives gold a 20% sleeve, and JP Morgan, Ondo, and Securitize keep building tokenization rails. James also covers the latest 13Fs (Abu Dhabi pushing toward $600M, hedge funds dumping as the basis trade compresses below 5%), Truth Social pulling its spot Bitcoin ETF filing, the Hyperliquid ETF launches, and the prediction market ETF wave that's stuck at the SEC. Plus a preview of the Balchunas-Seyffart book coming in November.🧠 Chapters00:00 — Diverging Sentiments In Crypto & Traditional Finance12:56 — Morgan Stanley's Bitcoin ETF & Institutional Adoption25:56 — Portfolio Strategies: Gold, Bitcoin & Alternatives30:32 — Understanding Investor Behavior In Down Markets31:30 — The Role Of Education In Bitcoin Investments32:56 — Institutional Strategies & Bitcoin Allocations33:59 — The Impact Of Trading Platforms On Bitcoin Exposure35:10 — Challenges Of Self-Custody In Financial Planning36:40 — The Future Of Custody Solutions In Crypto38:46 — Insights From Recent 13F Filings39:08 — Analyzing Bitcoin ETF Trends40:31 — Understanding Hedge Fund Strategies In Bitcoin42:46 — The Growing Interest In Altcoin ETFs44:51 — The Emergence Of Prediction Market ETFs48:13 — The Future Of Prediction Markets In Finance💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.This week Liam, Brian, and Michael cover Onramp's $12.5M Series A, Iran's Bitcoin-denominated Hormuz Safe insurance platform, the Clarity Act's passage through the Senate Banking Committee, Hyperliquid's USDC pivot and partnership with Coinbase, Standard Chartered's acquisition of Zodia Custody, Gemini's mounting losses, and Prime Trust's $970M lawsuit against Swan Bitcoin.Chapters00:00 - Introduction and Overview of Current Events01:58 - Onramp's Series A and Market Positioning05:54 - Bitcoin's Role in Global Transactions10:21 - Iran's Adoption of Bitcoin for Payments15:14 - The Clarity Act and Its Implications20:23 - Stablecoins and Their Future31:36 - Hyperliquid's Partnership with Coinbase34:37 - The Future of Stablecoins and Bitcoin Adoption39:50 - Standard Chartered's Strategic Moves in Crypto Custody44:22 - Building vs. Buying: The Path of Traditional Finance47:18 - Gemini's Financial Struggles and Market Positioning50:58 - Pre-IPO Trading and Market Speculation54:03 - Prime Trust's Legal Challenges and Custody ConcernsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/

In Episode 30 of The ₿roadcast, Bram Kanstein, Brian Cubellis, and special guest Liam Nelson break down the most important Bitcoin and macro developments from the past few weeks.00:00 - Intro & Welcoming Liam Nelson00:43 - Ray Dalio's Bitcoin Pushback11:28 - Mubadala's $600M IBIT Position & The Sovereign Bid18:34 - Draghi's Charlemagne Prize & The Euro's Collapse25:30 - Gemini's Fumble & The Everything Exchange Pivot31:55 - Menger, Asymmetry & Why Adoption Is Uneven45:07 - Gold's Underweight & The Debasement Regime1:05:09 - The Bond Market Is Breaking In Real Time1:09:13 - Early Riders Leads Onramp's Series A1:15:50 - The Golden Age Of GriftingThe ₿roadcast: Bitcoin culture meets Business & Finance. We catch up LIVE on news, tweets, videos, charts, trends, and other Bitcoin related content that stood out to us in the past two weeks ⚡️ Published on Saturday at 9AM EST / 3PM CET.

The Onramp team sits down for a full walkthrough of Onramp Finance, the unification layer tying the entire client experience together. Michael, Brian, Jackson, and Cam break down why custody had to be solved first, why the rest of the industry is sprinting toward speculation while Onramp builds for sound financial planning, and how dollars, bitcoin, and gold finally live in one account anchored by Multi-Institution Custody. Bram Kanstein joins to bring the international operator's view on what it actually takes to live and run a business on a Bitcoin standard.🎙️ Hosted by Michael Tanguma, Brian Cubellis, Jackson Mikalic, Cam Stromme, and Bram Kanstein⏱️ Chapters00:00 - The why behind Onramp Finance05:34 - Why custody had to come first08:49 - Evolution of the custody landscape15:21 - TradFi's late arrival to Bitcoin18:17 - The SD-card moment that changed everything23:29 - Three concentric circles of consolidation26:10 - Live dashboard walkthrough31:51 - What's coming next: DCA, mortgage, banking rails35:11 - Inheritance, simplified37:00 - Genesis Program + Q&A🔑 Key topicsMulti-Institution Custody as the foundation, not an afterthoughtStanding in opposition to the speculation economyDollars, Bitcoin, and gold in one accountEarn up to 5% on cash, 1.5% card cash-back, lowest-cost brokerageBitcoin IRAs, Arch loan integration, Argo gold partnershipInheritance that's a phone call, not a treasure huntUpcoming: mortgage product on MIC, bank deposit rails, instant clearing🔗 Onramp FinanceSign up: https://onrampbitcoin.com/financeGenesis Program: 210 founding seats — 5% earn rate, 1.5% card cash-back, 21,000 sats deposited, one year of MIC included

The Last Trade: Josh Phair joins to break down the metal wars escalating between sovereigns, gold's run from $3,300 to $4,700 in nine months, why CLARITY's Senate markup tomorrow is a capital flight moment, Wyoming winning the state's first physical gold mandate over JP Morgan, and the Fair-Sinclair ratio pointing to $35,000 gold.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Onramp Finance: https://onrampbitcoin.com/finance👉 Sign up for Genesis: https://onrampbitcoin.com/finance#genesis📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeJosh Phair, founder of Scottsdale Mint and CEO of the Wyoming Reserve Opportunity Zone Fund, returns to break down what he calls the "controlled demolition" playing out across sovereign balance sheets. China just posted its largest monthly silver import in 20 years, Poland is moving to 37% gold-backed reserves, and the US's number one net export has quietly become gold flowing to China via Switzerland for rare earths. Banks are now doing mercantile trading on behalf of governments, choke-pointing metals out of Latin America in what Josh calls the metal wars. Plus the CLARITY Act's Senate markup and the banking lobby's 100+ amendments threatening capital flight, Wyoming Reserve beating JP Morgan for the state's first physical gold mandate, the Tether seizure as the programmable-money tell, and why the Fair-Sinclair ratio points to $35,000 gold in a multi-decade money printing scenario.🧠 Chapters00:00 — Welcoming Josh Phair03:42 — Gold From $3,300 To $4,700 In Nine Months07:30 — The Metal Wars & Sovereign Accumulation13:09 — CLARITY, Capital Flight & The Banking Lobby15:33 — The Setup For The Biggest Bull Run Yet24:54 — Who Was On Air Force One To China28:27 — The Under-Allocation No Advisor Sees33:21 — Market Structure & Trust-Minimized Custody40:39 — Wyoming As The Property Rights Jurisdiction44:00 — The Phair-Sinclair Ratio & $35,000 Gold51:46 — Distrust As The Real Debasement Trade Driver54:30 — The Tether Seizure & Programmable Money1:02:57 — Beating JP Morgan For The Wyoming Mandate1:08:45 — States As The Next Sovereign Gold Buyers1:11:59 — Last Takes & Where To Find Josh💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.This week Liam, Brian, and Michael cover Coinbase's recent earnings report, the degradation of their competitive moat, the American Banking Association's panic due to the Clarity act, the implications of Circle's new token, and the significant moves made by institutions like BNY Mellon and Kraken.Chapters00:00 - Coinbase's Earnings & Layoffs02:59 - Market Position & Competition06:11 - The Future of Coinbase & Leadership Challenges09:03 - Circle's New Token & Coinbase Relationship12:10 - The Clarity Act & Stablecoin Regulations14:53 - The Role of Traditional Banks in Crypto18:11 - Tokenized Securities & Market Innovations33:17 - Tokenization & Financial Evolution39:35 - Institutional Moves in Crypto Custody42:50 - Kraken's Strategic Acquisition47:54 - The Future of Crypto Funds51:09 - Emerging Financial Products & AI IntegrationIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/

The Last Trade: Joe Consorti joins to break down the bond market forcing Trump's hand on Iran, Morgan Stanley' launches spot trading, Coinbase's 14% layoffs, Saylor's signal on potentially selling BTC, Polymarket's casino dynamics, and why the math doesn't math anymore.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Onramp Finance: https://onrampbitcoin.com/finance👉 Sign up for Genesis: https://onrampbitcoin.com/finance#genesis📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeJoe Consorti, Head of Growth at Horizon, joins to discuss why every time the 10-year approaches 4.5%, peace talk rhetoric magically appears from the administration. The bond market is calling the shots, not the Fed. With WTI near $100, 70% of US farmers unable to afford fertilizer, and Warsh teeing up trimmed-mean PCE to justify cuts into inflation, the math doesn't math anymore. Plus Morgan Stanley's 50bps spot Bitcoin trade undercutting Schwab, Coinbase's 14% layoffs and the custody concentration problem nobody's pricing, Saylor's earnings-call signal on potentially selling Bitcoin to fund the STRC dividend, and why Polymarket's 67%-to-the-0.1% dynamic is a casino dressed as a market.🧠 Chapters00:00 — Welcoming Joe Consorti03:37 — The Bond Market Is Calling The Shots06:49 — Oil, Fertilizer & The Limits Of Jawboning12:04 — Warsh, Trimmed Mean & The Coming Cut14:14 — Why Bitcoin Doesn't Need A Catalyst20:11 — Morgan Stanley Spot BTC Trading22:27 — Custody As The Real Differentiator33:37 — Coinbase Layoffs & The 10% Problem36:13 — Everything To Everyone Is Nothing45:45 — Polymarket, Kalshi & The Casino Era55:33 — Saylor's Signal On Selling Bitcoin59:00 — Last Takes & Where To Find Joe💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media...Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.Chapters00:00 - Introduction and Market Overview03:09 - The Clarity Act and Its Implications06:05 - Stablecoins: The Future of Financial Transactions09:10 - Stripe's Major Announcements and Acquisitions11:50 - Agentic Commerce and Payment Innovations14:54 - Comparing Stripe and Lightspark's Approaches18:08 - Liquidity Solutions and the Future of Stablecoins28:18 - The Evolution of Digital Money and Bitcoin Adoption31:13 - Stablecoins: The Future of Bitcoin Liquidity34:12 - Custody Challenges in the Digital Asset Space40:33 - Innovations in Bitcoin Wallets and Payment Solutions47:06 - The Rise of Bitcoin-Backed Financial Products53:24 - Mergers and Acquisitions in the Bitcoin EcosystemIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/Links:https://x.com/lightspark/status/2049888918599065885?s=20https://x.com/lightspark/status/2049191114641739787?s=20https://archive.ph/E8AL6https://block.xyz/inside/block-launches-bitkey-wallet-with-screen-automatic-bitcoin-earning-on-cash-app-and-proof-of-reserveshttps://bitcoinmagazine.com/news/aven-launches-bitcoin-backed-visa-card?utm_source=chatgpt.comhttps://tether.io/news/tether-investments-proposes-merger-plans-at-twenty-one-capital-to-accelerate-its-strategic-direction/

In Episode 29 of The ₿roadcast, Bram Kanstein, Michael Tanguma, and special guest Joe Consorti break down the most important Bitcoin and macro developments from the past few weeks.00:00 - Intro & Welcoming Joe Consorti00:33 - Powell Leaves the Fed in Chaos07:30 - AI Deflation & the Fed-Treasury Trap12:22 - Bitcoin as Outside Money16:02 - Czech National Bank & Sovereign Game Theory26:29 - ARMA, Gold Sales & the Mar-a-Lago Setup31:13 - Wall Street Packing Their Bags34:39 - The Stretch Debate42:52 - Iran, $120 Oil & the Wrong Fed Call44:59 - The Lag: Sovereigns, Stripe & Agentic Payments57:39 - Save in Bitcoin, Spend in DollarsThe ₿roadcast: Bitcoin culture meets Business & Finance. We catch up LIVE on news, tweets, videos, charts, trends, and other Bitcoin related content that stood out to us in the past two weeks ⚡️ Published on Saturday at 9AM EST / 3PM CET.

The Last Trade: Jackson, Michael, and Brian break down PTJ's bitcoin conviction, equities at 252% of GDP, TradFi's gold underweight, Sztorc's "eCash" fork, the Strategic Bitcoin Reserve tease, & why custody governance rights matter.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Onramp Finance: https://onrampbitcoin.com/finance👉 Sign up for Genesis: https://onrampbitcoin.com/finance#genesis📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeRecord onboardings for Onramp Finance, with Genesis spots still open (code TLT for additional sats). PTJ reaffirms his bitcoin thesis on Invest Like the Best while the macro setup for hard assets sharpens: equities at 252% of GDP, all-time-high equity allocations, and B of A private clients at just 0.4% gold. Plus Witt's reserve announcement tease, Sztorc's proposal to fork bitcoin and redistribute Satoshi's coins, and why governance rights at ETFs, DATs, and centralized custodians may prove decisive.🧠 Chapters00:00 — Genesis & Onboarding Momentum04:01 — PTJ on Bitcoin: Finite Scarcity11:22 — Equities at 252% of GDP16:30 — Gold's Merit & Severe Underweight22:50 — Citi's Balanced Bitcoin Thesis26:40 — Lepard, Trimmed Mean Inflation & Warsh30:25 — Strategic Bitcoin Reserve Tease38:30 — Bitcoin Conference Signal & Noise42:30 — Sztorc's "eCash" Fork46:20 — Governance Rights at ETFs & DATs49:30 — Deutsche Bank's "Return of History"57:30 — Last Takes & Disclaimers💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.This week Liam, Brian, and Michael cover the latest developments in digital assets, DeFi, and macroeconomic trends. The hosts analyze recent events like tether freezes, DeFi exploits, and India's CBDC pilots, providing insights into the evolving landscape of digital finance.Chapters05:00 - The Role of Tether in Global Finance08:10 - Decentralization vs Centralization in Crypto11:01 - The Fragility of DeFi and Recent Exploits17:20 - The Impact of AI on Employment22:39 - Economic Conditions and Corporate Layoffs31:28 - Digital Asset Roundup: Trends and Innovations37:28 - The Role of Stablecoins in Transactions43:09 - Integrating Bitcoin Payments in India47:19 - AI Investments and the Future of Tech Funding52:51 - Democratizing Access to Private Companies58:43 - The Debate on Freezing Coins and Market DynamicsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/

Originally aired on Joe Consorti's "Over the Horizon" podcast.Watch the full episode on Joe's channel.Michael Tanguma joins Joe Consorti to break down the launch of Onramp Finance, the macro setup heading into the next leg of Bitcoin's run, and why custody remains the most underappreciated risk in the entire digital asset stack. The conversation covers the institutional groundwork being laid across Wall Street, the case against digital credit products marketed to retail, and how AI plus Bitcoin are converging into the most asymmetric business opportunity of this cycle.Over the Horizon: https://www.youtube.com/@JoinHorizonJoe Consorti on X: https://x.com/JoeConsortiMichael Tanguma on X: https://x.com/MTangumaOnramp Finance: https://onrampbitcoin.com/finance00:00 — What's behind the rally04:17 — Institutional groundwork falling into place11:31 — ETFs as the on-ramp to MIC15:30 — Why custody is existential for Bitcoin19:36 — How MIC works24:47 — Announcing Onramp Finance33:45 — Why everyone is converging on this architecture44:44 — Stretch and the digital credit problem53:26 — The custody question nobody asks about DATs55:05 — AI, credit air pockets, and the Treasury market1:06:08 — Bitcoin + AI as the asymmetric opportunity1:12:19 — Closing thoughtsTopics CoveredThe macro setup heading into the back half of 2026, including Morgan Stanley's MSBT launch, Charles Schwab opening Bitcoin trading, Goldman's premium income ETF as a trial balloon, the Iran conflict's impact on commodity settlement, and Hank Paulson's call for a Treasury demand backstop.The Onramp Finance launch — a unified platform combining a cash-earning account paying up to 5%, the lowest-cost Bitcoin brokerage, an earn card with up to 1.5% rewards, IRAs, lending, and spot gold exposure through Argo with optional physical delivery from the Royal Canadian Mint. Built on Stripe-powered settlement infrastructure, with the Genesis founding cohort capped at 210 members.Why multi-institution custody is the inevitable end state for serious Bitcoin holders, the limits of single-custodian ETF structures, and the case that DATs holding billions across three custodians without addressing custody-layer risk are building on a faulty premise.A direct take on Stretch and the digital credit category — why retail-driven preferreds priced at marginal spreads over real inflation are not compensating holders for the risk being taken.The convergence of Bitcoin and AI as the two defining technologies of the next decade, and why bootstrapped Bitcoin-denominated businesses leveraging AI tooling have the structural advantage over fiat-funded incumbents carrying bureaucratic overhead.

The Last Trade: Jackson, Michael, and Brian break down the launch of Onramp Finance, Admiral Paparo's bitcoin testimony before Congress, Kevin Warsh's Fed nomination, bitcoin outperforming as the king of safe-haven assets, BlackRock and Coinbase's influence, & why meeting the market where it's at matters.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Onramp Finance: https://onrampbitcoin.com/finance👉 Sign up for Genesis: https://onrampbitcoin.com/finance#genesis📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeOnramp Finance is live — a unified money platform combining bitcoin, dollars earning up to 5%, a spending card, and MIC as the long-term custody layer. The crew breaks down why this stands in stark contrast to Polymarket launching 24/7 perpetual futures the same day, and why meeting the market where it's at has been the north star. Meanwhile, a four-star Admiral just called bitcoin a "peer-to-peer, zero-trust, transfer of value system" before Congress, Kevin Warsh is walking into an impossible Fed situation, and BlackRock, Coinbase, and Anchorage want to insert themselves into bitcoin protocol development. The big boys think they're here to fix bitcoin.🧠 Chapters00:00 — A Big Week for Onramp03:04 — Why We Built Onramp Finance07:00 — The Private Banking Experience, Centered on Bitcoin10:33 — Meeting the Market Where It's At16:53 — Genesis Program: 210 Spots, Use Code TLT21:04 — Admiral Paparo: "Bitcoin Is a Reality"27:09 — Gold, Multipolarity & Geopolitical Nukes34:17 — Bitcoin: King of Safe-Haven Assets39:20 — Reducing Variables in a Chaotic World43:36 — Warsh, Powell & the Fed's Impossible Position50:28 — ETF Flows & European Banks Losing Customers54:56 — OP_Next: BlackRock, Coinbase, Anchorage Want In1:02:44 — Last Takes & Disclaimers💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.Chapters00:00 - Big Announcement: Onramp Finance03:55 - Bridging Bitcoin and Traditional Finance10:14 - The Future of Financial Services15:27 - Convergence of TradFi and Bitcoin Services17:56 - Introducing the Genesis Program28:05 - DeFi Hacks and Security Concerns33:31 - The Security Landscape of AI and Blockchain35:51 - Traditional Finance's Entry into Crypto39:07 - Institutional Adoption and Market Sentiment47:20 - Kraken's IPO Journey and Market Dynamics58:24 - Innovations in Financial Services and User ExperienceIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/Links Discussed:https://onrampbitcoin.com/financehttps://x.com/Jeremybtc/status/2045588919362990431?s=20https://x.com/waleswoosh/status/2046147450394890680?s=20https://x.com/tatie_bree/status/2045972538606415992?s=20https://bitcoinmagazine.com/news/kraken-reportedly-confirms-ipo-filinghttps://blog.kraken.com/news/payward-acquires-bitnomialhttps://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-Announces-Details-of-Spot-Crypto-Trading-Launch/default.aspxhttps://www.theblock.co/post/397764/morgan-stanley-amy-oldenburg-crypto-daily-business-operations-across-firm?utm_source=telegram1&utm_medium=socialhttps://finance.yahoo.com/markets/crypto/articles/bitcoin-meets-income-goldman-sachs-013104679.htmlhttps://tether.io/news/tether-launches-tether-wallet-the-peoples-wallet-extending-its-global-financial-infrastructure-directly-to-billions-of-users-left-behind-by-the-traditional-financial-system/https://fortune.com/2026/04/14/anthropic-mythos-reveals-security-gap-ai-finds-flaws-far-faster-than-companies-can-patch-them/

In Episode 28 of The ₿roadcast, Bram Kanstein, Brian Cubellis, and Michael Tanguma break down the most important Bitcoin and macro developments from the past few weeks.00:00 - Where Are the Bitcoin Servers Located?10:38 - Goldman Joins the Bitcoin ETF Game14:23 - Retail Is Driving This, Not Institutions25:28 - The Centralization Problem Nobody Wants to Talk About28:14 - Quantum Panic & BIP-36136:00 - The Hard Fork Final Boss43:35 - Bitcoin for Enemies: Iran & the Strait of Hormuz55:00 - MIC Is How Oil Gets Paid For56:00 - Anthropic, Intelligence & Energy-Backed Money01:01:17 - Fiat Debasement Is Mathematically Assured01:03:24 - The Supply Shock Conversation01:07:30 - The 21M Cap Is Binary01:12:06 - Is Destroying Civilization Upside or Downside Risk?01:14:24 - Tether's Unified Wallet01:17:06 - America's Forgotten War on Central Banks01:22:10 - The Money Failed, Not the DemocracyThe ₿roadcast: Bitcoin culture meets Business & Finance. We catch up LIVE on news, tweets, videos, charts, trends, and other Bitcoin related content that stood out to us in the past two weeks ⚡️ Published on Saturday at 9AM EST / 3PM CET.

The Last Trade: Jackson, Michael, and Brian break down Saylor's Stretch product absorbing 10k BTC per day, the Goldman Bitcoin ETF filing, Kevin Warsh's crypto portfolio, Justin Sun suing Trump, Allbirds pivoting from shoes to AI, & why record consumer pessimism makes the case for bitcoin.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Inheritance Planning: https://onrampbitcoin.com/products/inheritance👉 Dynasty Trusts: https://onrampbitcoin.com/products/dynasty-trusts👉 Institutional: https://onrampbitcoin.com/products/institutional📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeStretch is now the marginal buyer of bitcoin and the crew breaks down why marketing it as "money-market-like" is misleading when it's preferred equity with no legal claim on the bitcoin. Meanwhile, treasury companies have quietly sold their holdings while nobody noticed, Goldman filed a Bitcoin Premium Income ETF, Justin Sun is suing the Trump family over World Liberty Financial, and Allbirds pivoted from shoes to AI and mooned 800%. A record 54% of Americans say their financial situation is worse than a year ago, inflation expectations just hit 4.8%, and the case for holding spot bitcoin has never been clearer.🧠 Chapters00:00 — Back to All-Time Highs (Except Bitcoin)02:33 — Stretch: Marketing vs The Real Risks09:07 — Don't Mess Up the Monetization Phase13:20 — Treasury Companies Quietly Selling Bitcoin19:32 — Retail vs. Institutional: Both Sides of the Mouth22:01 — Kevin Warsh's Crypto Portfolio25:18 — World Liberty Financial & Justin Sun28:58 — Goldman's Bitcoin ETF Filing38:02 — Allbirds Pivots to AI, Moons 800%42:42 — Record Consumer Pessimism47:41 — Fake Ledger App Drains $9.5M56:42 — Last Takes: Gold Exports & Intangible Value💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.00:00 - Bullish Tailwinds for Bitcoin02:12 - Geopolitical Implications of Bitcoin07:25 - Bitcoin's Role in Global Settlements17:01 - Morgan Stanley's ETF Launch and Market Strategy29:25 - The Clarity Act and Digital Assets36:06 - Global Regulatory Trends in Crypto41:23 - Tokenization and Market Dynamics49:56 - Private Credit and Blockchain InnovationsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/Links Discussed:https://x.com/simplybitcoin/status/2042387498752512508?s=46&t=PV2x02cG_nl7mRDNaKNUMAhttps://fortune.com/2026/04/10/iran-strait-of-hormuz-crypto-tolls-stablecoins-bitcoin-oil-tankers/https://www.wsj.com/opinion/digital-assets-rules-need-clarity-6dfcab70https://www.theblock.co/post/396692/standard-chartered-weighs-integrating-zodia-custody-corporate-bank-arm-bloomberg?utmsource=rss&utmmedium=rsshttps://x.com/roshanaslam21/article/2041088805634179471https://bitcoinmagazine.com/news/japan-moves-to-classify-bitcoin-and-cryptohttps://finance.yahoo.com/markets/stocks/articles/gemini-stock-jumps-10-takeover-195300447.html?guccounter=1https://www.americanbanker.com/news/securitize-appoints-former-sec-official-as-presidenthttps://fortune.com/2026/03/30/valinor-seed-round-25-million-crypto-private-credit-blackstone-staffers/https://x.com/watcherguru/status/2041767629153550636?s=46https://x.com/MTanguma/status/2043697065503363096

The Last Trade: Jackson, Michael, and Brian break down Morgan Stanley's Bitcoin ETF launch, the FDIC greenlighting the Genius Act, a Tennessee wrench attack ring hunting bitcoiners through DoorDash, Anthropic's Project Glasswing, and why bitcoin's 175% run during QT kills any bear argument.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Inheritance Planning: https://onrampbitcoin.com/products/inheritance👉 Dynasty Trusts: https://onrampbitcoin.com/products/dynasty-trusts👉 Institutional: https://onrampbitcoin.com/products/institutional📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeMorgan Stanley just launched its bitcoin ETF at 14bps, undercutting BlackRock and coming for a $10 trillion wealth platform — the most bullish signal of the cycle hiding in plain sight. The FDIC finally blessed Genius Act implementation, Jamie Dimon is warning JPM has to move faster on tokenization or get Blockbustered, and a Blockware chart shows bitcoin ran 175% during the most aggressive tightening cycle on record. A Tennessee crime ring got busted running wrench attacks through hacked DoorDash accounts, physical attacks on holders are up 75%, and Anthropic's Project Glasswing is exposing a new AI attack surface while the crypto world front-runs its own quantum existential crisis. Security that scales with the stakes has never mattered more.🧠 Chapters00:00 — Monitoring the Situation: Theater vs Substance04:19 — Energy Shortages & COVID Parallels07:09 — Cash, Gold, Bitcoin & the Optionality Portfolio13:20 — Capital Flows East: Oil, Stablecoins & the Yuan Toll23:25 — The Wall Street Wave: MSBT Goes Live28:18 — Schwab, Cycles & Why Individuals Are Smart Money37:30 — FDIC Blesses the Genius Act & Tokenization42:45 — The Chart That Destroys the ZIRP Bitcoin Thesis47:51 — The $40M DoorDash Wrench Attack Ring55:12 — Project Glasswing, Mythos & the AI Attack Surface1:01:15 — The Bridge From ETFs to Real Ownership1:05:00 — Last Takes: Broken Money, Inflation & Security That Scales💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.Chapters00:00 - Introduction and New Beginnings01:27 - The Drift Hack: A New Era of Crypto Exploits08:02 - Real-World Implications of Digital Security14:25 - The Intersection of Digital Assets and Banking19:56 - Challenges in Custody and Perception of Digital Assets24:46 - Quantum Concerns and Institutional Hesitance29:02 - Understanding Qubits and Quantum Computing30:41 - The Perception of Bitcoin and Quantum Threats31:36 - Cross-Border Money Movement Innovations35:01- The Acquisition of TBPN by OpenAI45:44 - Bitcoin-Backed Municipal Bonds in New Hampshire47:49 - Paradigm's Entry into Prediction Markets49:44 - AI's Impact on Corporate Structures and LayoffsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/

In Episode 27 of The ₿roadcast, Bram Kanstein, Brian Cubellis, and Michael Tanguma break down the most important Bitcoin and macro developments from the past few weeks.0:00 — Quantum Panic or Quantum Grift?4:28 — Follow the Incentives9:34 — Bitcoin Will Adapt12:45 — Settlement in a Fractured World15:30 — Buffett Finally Tells the Truth24:07 — Diamonds Are Dying27:18 — Gold vs. Bitcoin Gets Heated33:45 — Defend Your Zero Allocation37:35 — OpenAI's Valuation Problem40:40 — Just Do Things45:57 — AI Is Curing Cancer51:20 — Closing ThoughtsThe ₿roadcast: Bitcoin culture meets Business & Finance. We catch up LIVE on news, tweets, videos, charts, trends, and other Bitcoin related content that stood out to us in the past two weeks ⚡️ Published on Saturday at 9AM EST / 3PM CET.

The Last Trade: Jackson, Michael, and Brian break down the Google quantum whitepaper hype, the Strait of Hormuz crisis going binary, Oracle's 30,000-person layoff wave, Warren Buffett calling for 0% inflation, and why ground beef at $7 a pound tells you everything the CPI won't.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Inheritance Planning: https://onrampbitcoin.com/products/inheritance👉 Dynasty Trusts: https://onrampbitcoin.com/products/dynasty-trusts👉 Institutional: https://onrampbitcoin.com/products/institutional📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeGoogle's quantum AI lab dropped a new paper and the panic merchants are back on schedule. The crew separates the theoretical from the existential, flags the incentive structures behind the loudest voices, and explains why bitcoin's conservative development ethos is a feature, not a bug. From there, the conversation shifts to the Strait of Hormuz and the JP Morgan supply map showing US deliverables running dry by mid-April. Oracle cuts 30,000 employees in a single morning email and the stock rallies. Six of the Mag Seven are already in bear markets while the index pretends everything is fine. And then Warren Buffett says what bitcoiners have been saying for years: the Fed's inflation target should be zero. Ground beef is up nearly 100% since 2019. The compounding works both ways.🧠 Chapters00:00 — Google Quantum Whitepaper Breakdown06:08 — Soft Forks, Migration Paths & Why Haste Is Risk07:29 — Incentives & the Conflict of Interest Question13:30 — Hormuz: Binary Outcome, Global Consequences15:36 — JP Morgan Supply Map & the April 15th Cliff19:29 — COVID Parallels & the Coordination Pattern23:15 — Market Signals & Trump's Shifting Timeline26:09 — Abundance Ending, Counterparty Risk Rising28:18 — CNBC Turmoil Indicator: 40% Average Return31:05 — Oracle Lays Off 30,000: AI Cover or ZIRP Hangover36:42 — Mag Seven Bear Markets: Signal or Noise41:44 — Warren Buffett Says 0% Inflation Target46:49 — Ground Beef at $7: The Real CPI50:50 — Coinbase Gambling vs. Wealth Preservation54:33 — Golf Courses vs. Data Centers & Last Takes💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.Chapters00:00 - Morgan Stanley Enters the Bitcoin ETF Race09:53 - The Implications of Morgan Stanley's Strategy21:23 - Coinbase's Bitcoin-Backed Mortgages28:59 - Stablecoin Clarity Act and Market Dynamics32:51 - The Future of Banking in Crypto34:08 - Market Dynamics and IPO Insights38:02 - Legal Challenges in the Crypto Space42:30 - The Evolution of Bitcoin as a Treasury Asset45:52 - AI's Impact on the Financial Sector50:43 - Square's Bitcoin Payment Innovations54:14 - Tether's Audit and Market Trust56:44 - The Role of AI in Business Growth01:00:31 - Long-Term Thinking in a Short-Term MarketIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/

The Last Trade: Jackson, Michael, and Brian break down Operation Epic Fury's energy shock, private credit gates, the wealth gap going parabolic, Morgan Stanley's Bitcoin ETF, Fidelity's case for getting off zero, and why the money printer excuse just arrived.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Inheritance Planning: https://onrampbitcoin.com/products/inheritance👉 Dynasty Trusts: https://onrampbitcoin.com/products/dynasty-trusts👉 Institutional: https://onrampbitcoin.com/products/institutional📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeFour weeks into the Iran conflict and the system is cracking. Inflation expectations are reversing, private credit funds are gating withdrawals, and the Philippines just declared a national energy emergency. The Fed is boxed in — can't cut, shouldn't hike, and the excuse to print is writing itself. Meanwhile, Morgan Stanley is about to launch a Bitcoin ETF that will force active solicitation over latent demand, Fidelity says fiduciaries at zero need a reason they don't have, and Bybit's proof of reserves exposes why snapshots aren't security. The crew makes the case that the big print is coming — and Bitcoin is the exit.🧠 Chapters00:00 — Energy Crisis & Macro Backdrop04:40 — Inflation Was Never Handled06:47 — The Excuse to Print13:13 — Private Credit Unwind19:20 — Sellers Are Exhausted23:33 — Things Are Breaking31:49 — ETF Inflows & Morgan Stanley38:26 — Fidelity: Getting Off Zero44:25 — Bybit & Proof of Ownership48:28 — Tucker's Gold Scam Exposé53:47 — Australia Pension Fund Allocation54:35 — Last Takes, Outro & Disclaimer💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.00:00 - Geopolitics, oil, and market volatility11:09 - Crypto market structure: CFTC/SEC clarity and the Clarity Act22:19 - Stablecoin surge: Stripe MPP, and MasterCard/BVNK37:12 - Kraken's frozen IPO and the crypto exchange landscape43:41 - Institutional digital asset adoption: EY/Coinbase survey49:44 - Building Bitcoin-native financial companies53:44 - AI meets capital: OpenAI/Anthropic PE deals and robotics investment1:00:58 - AI agents, Walmart dynamic pricing, and surveillance risk1:05:57 - Building in the new economy and The StablesIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/

In Episode 26 of The ₿roadcast, Bram Kanstein, Brian Cubellis, and Michael Tanguma break down the most important Bitcoin and macro developments from the past few weeks.00:00 — Intro & Brian's Back03:51 — Iran, the Strait of Hormuz & the Energy Crisis19:00 — Travis Kalanick's Return & the Plumber Thesis for AI31:10 — Stretch, MicroStrategy & Who's Actually Buying?40:27 — Private Credit Is the New Subprime53:30 — UK Bans Self-Hosted Wallets01:00:01 — 12–24 Months to Serfdom01:06:11 — Druckenmiller Sold the Bottom01:16:49 — The DCA Chart That Ends Every Argument01:20:17 — The Fed Is Trapped & Both Exits Lead to Bitcoin01:25:55 — BitTensor, Distributed AI & You Don't Need a TokenThe ₿roadcast: Bitcoin culture meets Business & Finance. We catch up LIVE on news, tweets, videos, charts, trends, and other Bitcoin related content that stood out to us in the past two weeks ⚡️ Published on Saturday at 9AM EST / 3PM CET.

The Last Trade: Jackson, Michael, and Brian break down AI job displacement, the Strait of Hormuz oil shock, hot PPI data, Wyoming hoarding gold, ETF inflows resuming, the Bitrefill hack, and why the Fed is trapped like a rat.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Inheritance Planning: https://onrampbitcoin.com/products/inheritance👉 Dynasty Trusts: https://onrampbitcoin.com/products/dynasty-trusts👉 Institutional: https://onrampbitcoin.com/products/institutional📩 Schedule a consultation: https://onrampbitcoin.com/consultThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeAI is coming for 42% of U.S. jobs, the Strait of Hormuz is putting 20M barrels a day at risk — 7x the scale of the Russia-Ukraine oil shock — and PPI just came in hot before oil prices are even reflected. The Fed can't raise, can't cut, and stagflation is setting in. Meanwhile, Wyoming is stashing physical gold in state reserves, the SEC just declared most digital assets aren't securities, and North Korea hit Bitrefill while physical attacks on Bitcoiners are running at 2x last year's pace.The crew goes deep on why this Middle East crisis is structurally worse than 2022, how the U.S. strategic petroleum reserve is already depleted, the case for states accumulating sovereign hard money reserves, why ETF inflows resuming after a five-session streak matters for market structure, the counterparty risk embedded in Strategy's growing BTC stockpile, and why the SEC/CFTC guidance is both bullish for Bitcoin's price and bearish for humanity. Plus — Signal or Noise returns, and Jackson makes the case that you should stop banking on Bitcoin to save you.🧠 Chapters00:00 — Intro & Karpathy's AI Disruption Study08:40 — Strait of Hormuz & Oil Shock17:59 — Gold, Oil & the Multipolar Shift22:27 — Wyoming Is Stacking Gold31:49 — Strategy, ETFs & Market Structure40:02 — SEC/CFTC Crypto Guidance46:01 — Bitrefill Hack & Physical Attacks52:43 — The Last Takes59:03 — Outro & Disclaimer💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.00:00 - Intro and Bitcoin's surge04:41 - Travis Kalanick’s ventures09:07 - Founder-led innovation13:36 - AI in construction16:01 - Business refounding necessity19:02 - AI's impact on jobs22:01 - Market signaling and AI28:38 - Unalterable data repositories33:33 - Bitcoin in digital finance41:14 - Crypto and traditional finance convergence50:34 - Building financial companies with Bitcoin and AI54:32 - Political implications on stablecoins1:02:24 - AI tool vulnerabilities1:06:14 - Data privacy and AIIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://x.com/timmyhmshen/status/2033373162256118219?s=46https://www.theblock.co/post/393173/wells-fargo-files-wfusd-trademark-covering-crypto-trading-payments-and-tokenization-services?utm_source=twitter&utm_medium=socialhttps://www.mastercard.com/us/en/news-and-trends/stories/2026/mastercard-crypto-partner-program.html?utm_source=substack&utm_medium=emailhttps://www.theblock.co/post/393721/abra-to-go-public-via-spac-merger-at-750-million-valuation?utm_source=twitter&utm_medium=socialhttps://www.theblock.co/post/392812/stablecoin-fintech-kast-raises-80-million-in-series-a-to-fund-global-expansion?utm_source=telegram1&utm_medium=socialhttps://www.theblock.co/post/392812/stablecoin-fintech-kast-raises-80-million-in-series-a-to-fund-global-expansion?utm_source=telegram1&utm_medium=socialhttps://x.com/pete_rizzo_/status/2033185448026394872?s=46https://www.wsj.com/finance/stocks/nasdaq-partners-with-kraken-in-tokenization-push-135e8112https://x.com/MTanguma/status/2033187728976699843?s=20https://techcrunch.com/2026/03/13/travis-kalanick-launches-a-new-company-called-atoms-focused-on-robotics/https://x.com/cryptopunk7213/status/2031914914768449817?s=46https://techstartups.com/2026/03/13/meta-plans-massive-layoffs-of-up-to-20-of-the-workforce-to-offset-soaring-ai-costs/https://x.com/markgadala/status/2033230495283351624?s=46https://x.com/trungtphan/status/2032224185335103686?s=46https://x.com/TrungTPhan/status/2032224185335103686?s=20https://x.com/etherealize_io/status/2031444979969647085?s=46Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/

The Last Trade: Jackson, Michael, and Brian break down the US military operation in the Middle East, $120 oil, bitcoin's resilience as a wartime asset, the 20M BTC supply milestone, Kraken's Fed master account, private credit cracking, and the IRS's new crypto audit form.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance👉 Institutional: https://onrampbitcoin.com/products/institutional👉 Business: https://onrampbitcoin.com/products/business📩 Schedule a briefing: https://onrampbitcoin.com/contactThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeOil spiked to $120, gold is trapped in the desert, private credit gates are closing, and the IRS just rolled out a new form designed to catalog every bitcoin holder's exchange history. Meanwhile, Bitcoin is up 7% since the conflict started and 20 million BTC have now been mined with only 1 million left to go.The crew goes deep on how drone warfare is reshaping geopolitical power dynamics, why Bitcoin's portability advantage over gold has never been more obvious, the Kraken-NASDAQ tokenized equity partnership and Kraken's historic Fed master account, the private credit unraveling from Cliffwater to Blue Owl to BlackRock, and why sellers may finally be exhausted around these levels. Plus a new segment — Signal or Noise — and a reminder from Daniel Batten on why thinking from first principles has never been more important.🧠 Chapters00:00 — Intro & New Format01:30 — The Middle East Conflict04:07 — Drone Warfare & $120 Oil07:36 — Bitcoin Up 7% During a War12:01 — Gold Trapped, Bitcoin Isn't16:40 — Privacy, Chamath & the Open Ledger19:46 — 20 Million BTC Mined25:03 — Signal or Noise: Kraken & Tokenized Trading29:58 — Private Credit Is Cracking37:35 — The IRS Crypto Audit Form53:50 — The Last Takes1:03:24 — Outro & Disclaimer💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.00:00 - Introduction to Ledn and Bitcoin Lending03:56 - Discussing the State of Bitcoin Leverage06:42 - Understanding Risks in Bitcoin Lending09:46 - The Impact of Market Dynamics on Bitcoin Lending12:48 - The Importance of Transparency in Lending15:47 - The Role of Institutional Investors in Bitcoin Lending18:45 - Lessons from Venezuela: Mauricio's Journey to Bitcoin21:59 - The Future of Bitcoin Lending and Ledn’s Vision33:20 - The Birth of Ledn: A Solution to a Common Problem35:35 - Understanding ABS: Transforming Bitcoin Lending44:13 - Investment Grade Ratings: A Game Changer for Bitcoin Loans52:20 - The Future of Bitcoin Loans: Bridging Traditional and Crypto Finance59:16 - Navigating Competition: Banks Entering the Bitcoin SpaceIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.galaxy.com/insights/research/state-of-crypto-leverage-q4-2025https://finance.yahoo.com/news/blockfills-ceo-exits-75-million-205445687.htmlhttps://www.theblock.co/post/392732/crypto-lender-blockfills-restructuring-after-halting-withdrawals-lawsuit-fthttps://www.ledn.io/post/ledn-abshttps://www.ledn.io/post/tether-invests-in-lednhttps://www.ledn.io/post/ledn-posts-record-q3Keep up with Mauricio:https://x.com/cryptonomistahttps://www.linkedin.com/in/mauricio-di-bartolomeo-780284101/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/

In Episode 25 of The ₿roadcast, Bram Kanstein, Michael Tanguma, and special guest Matt Odell break down the most important Bitcoin and macro developments from the past few weeks.00:00 — Intro & Welcome Matt Odell02:55 — Assassination Markets & the Polymarket Phenomenon09:16 — AI Is Eating White Collar Jobs & Nobody's Ready24:26 — The Dot Plot Has Never Been Wider36:48 — What Dalio & Chamath Get Wrong About Bitcoin45:41 — Gold Has Counterparty Risk Too49:43 — ETFs Stripped Bitcoin of Its Safe Haven Properties01:01:39 — TradFi Is in Its 2017 Crypto Moment01:07:32 — Bitwise Showed Up, Saylor Tried to Stop It01:17:13 — DATs Are Puking & Saylor's Hoarding CashThe ₿roadcast: Bitcoin culture meets Business & Finance. We catch up LIVE on news, tweets, videos, charts, trends, and other Bitcoin related content that stood out to us in the past two weeks ⚡️ Published on Saturday at 9AM EST / 3PM CET.

The Last Trade: James Camp, co-founder of APFX, joins the crew to break down the multi-trillion dollar AI agent economy, why Bitcoin and stablecoins aren't in competition, and why the next bull market has nothing to do with retail investors.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance👉 Institutional: https://onrampbitcoin.com/products/institutional👉 Business: https://onrampbitcoin.com/products/business📩 Schedule a briefing: https://onrampbitcoin.com/contactJames Camp on X: https://x.com/JamesonCampWebsite: https://james.camp/The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeA multi-trillion dollar economy is being built beneath the one you know. James Camp — pragmatist, Bitcoiner, and AI implementation consultant — joins the crew to map out the agent economy taking shape right now, why AI agents will likely settle on Bitcoin as a long-term store of value even as stablecoins handle day-to-day transactions, and what the Jack Dorsey/Block layoffs actually signal about where corporate America is headed.The conversation covers quantum FUD, the order of operations for hyperbitcoinization, why the average American doesn't need to care about Bitcoin for it to win, and what it means to be a pragmatist before you're a Bitcoiner.🧠 Chapters00:00 — Intro & James's Bitcoin Origin Story08:30 — How AI Agents Prefer to Transact16:45 — Bitcoin vs. Stablecoins: Why Both Win24:00 — BPI's AI Agent Monetary Study31:15 — Jack Dorsey, Layoffs & Financial Engineering42:00 — Quantum FUD & Why It's Mostly Noise49:30 — The Invisible Hand & Where Capital Flows Next57:00 — Intermediaries, Self-Custody & the Middle Ground1:04:00 — Cyborgs, Brain Chips & the Amish Option1:10:00 — The Poorest of the Rich: James's 5-Year Bet1:14:00 — Outro & Disclaimer💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.00:00 - Introduction and Context Setting02:52 - Layoffs and Market Reactions06:09 - AI's Impact on Workforce and Economy08:55 - The Role of Technology in Business11:48 - Long-term Economic Perspectives14:48 - The Future of AI and Consumer Spending17:49 - Stablecoins and Financial Innovations25:36 - The Rise of Stablecoins and Payment Companies29:48 - Banking Innovations and Digital Asset Custody34:43 - Consumer Behavior and Bitcoin Adoption39:38 - The Future of AI Agents and Marketplaces45:38 - Bitcoin Adoption Trends and Institutional InterestIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://x.com/balajis/status/2027146933136150867?s=46https://www.coindesk.com/business/2026/02/24/mark-zuckerberg-s-meta-is-planning-stablecoin-comeback-in-the-second-half-of-this-yearhttps://x.com/segall_max/status/2026313469960896538?s=20https://www.theblock.co/post/391123/fintech-giant-stripe-circles-possible-paypal-acquisition-bloomberg?utm_source=telegram1&utm_medium=socialhttps://www.theblock.co/post/391244/stripe-co-founder-predicts-torrent-of-ai-agent-commerce-powered-by-stablecoinshttps://x.com/zoomerfied/status/2027504105753649318?s=20https://x.com/bank_reg/status/2027408867093836017?s=20https://x.com/TFTC21/status/2027383251522773238?s=20https://decrypt.co/359312/morgan-stanley-offer-bitcoin-custody-trading-yield-lending-exechttps://x.com/bank_reg/status/2027408867093836017?s=20https://x.com/cultured/status/2026677118701289897https://www.theblock.co/post/391275/circle-shares-25-earnings-beat-allaire-usdc-transactions-50-share?utm_source=telegram1&utm_medium=socialhttps://river.com/content/bitcoin-adoption-2026Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Jackson:https://x.com/macrojack21https://www.linkedin.com/in/jacksonmikalic/

The Last Trade: Jackson, Michael, and Liam break down the Jane Street / Terra Luna lawsuit, what's really driving bitcoin's drawdown, why your privacy is more compromised than you think, and why AI and bitcoin are two sides of the same coin.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance👉 Institutional: https://onrampbitcoin.com/products/institutional👉 Business: https://onrampbitcoin.com/products/business📩 Schedule a briefing: https://onrampbitcoin.com/contactThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeJackson, Michael, and Liam convene from Palm Beach to unpack one of the more chaotic weeks in recent memory. The Jane Street / Terra Luna lawsuit has resurfaced old questions about algorithmic stablecoins, market manipulation, and whether bitcoin's price action is as organic as people assume.The crew also digs into a deeply underappreciated threat: the convergence of leaked personal data, LLM de-anonymization tools, and appreciating bitcoin wealth, and what that means for holders who haven't thought seriously about custody and physical security. The episode closes on an optimistic note, with a spirited conversation about why AI and bitcoin are accelerating together, and how Bitcoiners can use the current moment to stack more sats.🧠 Chapters00:00 — Jane Street, Terra Luna & the Lawsuit09:00 — Is Bitcoin Being Manipulated?18:00 — Stablecoins, AI Agents & the Path to BTC29:00 — Your Privacy Is Already Gone31:00 — Physical Security & the Case for MIC39:00 — The Robot Vacuum Hack44:00 — DATs, Miners & Selling the Bottom48:00 — BlockFills & the 2022 Playbook Repeats54:00 — AI-First or Fall Behind1:00:00 — AI & Bitcoin: Same Coin, Different Sides💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

In Episode 24 of The ₿roadcast, Bram Kanstein, Michael Tanguma, and special guest Marty Bent break down the most important Bitcoin and macro developments from the past few weeks.00:00 — Intro & Welcome Back Marty02:39 — Hoppe Got the Asset Wrong06:34 — Why Gold Comes Before Bitcoin13:56 — The Toilet Company Running AI19:32 — AI Eats the Chip Supply Chain21:47 — Tinkering Is the New Alpha35:30 — Is the Clarity Act Priced In?41:44 — TradFi Is All In & Tokenization Is a Trap51:01 — The Looting Is by Design54:40 — $4.3B Wiped, Insiders Walk Clean58:54 — Discord Is Spying on You1:02:34 — Bitcoin Is the Only Signal1:11:18 — 1.2M BTC Left Retail Hands1:17:28 — Anthropic Wipes $21B OvernightThe ₿roadcast: Bitcoin culture meets Business & Finance. We catch up LIVE on news, tweets, videos, charts, trends, and other Bitcoin related content that stood out to us in the past two weeks ⚡️ Published on Saturday at 9AM EST / 3PM CET.

The Last Trade: On-chain analyst James Check (Checkmate) joins the crew to break down bitcoin's bear market capitulation, what the data says about where we are in the cycle, and why the obituaries being out might be the most bullish signal of all.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance👉 Institutional: https://onrampbitcoin.com/products/institutional👉 Business: https://onrampbitcoin.com/products/business📩 Schedule a briefing: https://onrampbitcoin.com/contactJames Check on X: https://x.com/_Checkmatey_Check on Chain: https://www.checkonchain.com/The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeBitcoin is down 50% from all-time highs. No single catalyst. No obvious bottom. Checkmate joins the crew to cut through the noise with on-chain data, walking through the exact thresholds he mapped during the recent drawdown and why 50% of the supply being underwater is historically a bottoming signal. The conversation expands into the debasement trade narrative, AI-driven labor displacement, why institutions only need to move a fraction of a percentage point to absorb all sell pressure, and why bitcoin's only job — like gold's — is to not die.🧠 Chapters00:00 — Intro & Market Sentiment02:14 — How James Mapped the Recent Decline11:32 — What Actually Caused the Drawdown?15:16 — The Debasement Trade Hasn't Started Yet22:00 — Gold, Physical Delivery & What It Means for BTC30:39 — AI, Labor Displacement & Money Printing44:00 — Institutional Adoption: Just Heating Up50:00 — Will Critics Ever Admit They Were Wrong?54:53 — Bitcoin's Only Job Is to Not Die1:00:04 — Hyperbitcoinization & Why Most People Won't Care1:07:11 — Deep Value Zone: Every Mean Reversion Model Agrees1:12:00 — Buy the Whole Bottom, Outro & Disclaimer💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.00:00 - Introduction to the Chaos of AI and Bitcoin03:00 - The OpenClaw Acquisition: Implications for Open Source05:52 - Understanding OpenClaw: Functionality and Risks08:48 - The Future of AI Agents and Their Interactions12:08 - The DIY Approach: Parallels with Bitcoin15:08 - On-Prem vs Cloud: The Data Ownership Dilemma18:14 - The Evolution of Payment Systems for AI Agents21:04 - Stablecoins vs Bitcoin: The Payment Landscape24:09 - The Future of AI and Payment Integration31:04 - Navigating AI and Crypto Payment Systems34:33 - The Intersection of AI and Digital Assets39:59 - TradFi's Embrace of Digital Assets46:09 - Ray Dalio's Perspective on the Shifting Monetary OrderIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly:Links discussed:https://x.com/shiri_shh/status/2022635742682616196https://x.com/shortsqueeznews/status/2023173745771213108?s=20https://x.com/fintechfrank/status/2023067647345066366?s=20https://x.com/fintechfrank/status/2023040127795093556?s=20https://x.com/RayDalio/status/2022788750388998543?s=20https://x.com/kimmonismus/status/2022055329408938125?s=20https://x.com/aakashgupta/status/2023249490426388849?s=20https://steipete.me/posts/2026/openclawhttps://x.com/sama/status/2023150230905159801?s=20https://x.com/danielfoch/status/2023072604534517766?s=20https://www.theblock.co/post/389524/coinbase-rolls-out-ai-tool-to-give-any-agent-a-wallethttps://crypto.news/stripe-taps-base-ai-agent-x402-payment-protocol-2026/https://www.theblock.co/post/389421/blackrock-securitize-tap-defi-giant-uniswap-for-direct-onchain-buidl-trading-uni-surges-20Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/

The Last Trade: Onramp COO Nick DeLozier joins the crew to break down bitcoin's mysterious 50% drawdown, record-high global uncertainty, the stablecoin Trojan horse thesis, and what's next for multi-institution custody.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance👉 Institutional: https://onrampbitcoin.com/products/institutional👉 Business: https://onrampbitcoin.com/products/business📩 Schedule a briefing: https://onrampbitcoin.com/contactThe Architecture of Trust: https://onrampbitcoin.com/research/the-architecture-of-trustThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeBitcoin is down 50% from all-time highs and there's no single catalyst anyone can point to. Global uncertainty has broken all-time highs — surpassing 9/11, 2008, and COVID. The crew is joined by Onramp COO Nick DeLozier for a wide-ranging conversation on what's driving the drawdown, why the four-year cycle may be self-fulfilling, and how quantum computing fear is being overblown but shouldn't be ignored.The conversation shifts to key takeaways from Bitcoin Investor Week, including Tether US CEO Bo Hines' bullish case for the Clarity Act and stablecoins as the ultimate Trojan horse for bitcoin adoption. Nick then walks through "The Architecture of Trust" — Onramp's latest publication detailing the engineering breakthroughs behind their self-service onboarding, redesigned dashboard, and security-first withdrawal workflows. The team also discusses dynasty trusts, the evolving AI threat landscape, and the road to mass-market bitcoin custody.🧠 Chapters00:00 — Intro & Market Sentiment Overview04:30 — Gold, Bitcoin & the Centralization Problem08:10 — Coinbase Goes Down Again & the 50% Drawdown17:42 — Bitcoin Investor Week: Behind Closed Doors22:23 — Quantum Computing: Real Risk or Overblown FUD?33:50 — Bo Hines on the Clarity Act, Stablecoins & Tether's Scale40:03 — Stablecoins as a Trojan Horse for Bitcoin Adoption44:06 — The Architecture of Trust: Onramp's Product Evolution54:03 — Dynasty Trusts, Lending & the Custody Roadmap1:02:50 — Shipping MacBooks: Crossing the Custody Chasm1:06:00 — Closing Thoughts, Custody FAQ & Disclaimers💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.00:00 - Introduction and Context Setting02:13 - Market Sentiment and Price Action07:12 - Tether's Position and Strategic Moves13:12 - Erebor's National Banking Charter and Industry Implications27:39 - The Future of Banking and Digital Assets30:16 - APIs and the Evolution of Financial Services33:15 - Stablecoins and the Acceleration of Crypto Adoption35:23 - The Transformation of Financial Services through Digital Assets39:00 - Tokenized Cash and the Role of CME Coin43:59 - The Rise of AI Bots in Financial Transactions47:58 - Bitcoin vs. Stablecoins: The Future of Digital Currency51:02 - Decentralized Infrastructure and the Future of TokenomicsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.theblock.co/post/388540/cme-group-tokenized-cash-coin-developed-google-use-crypto-collateral-roll-out-this-yearhttps://au.finance.yahoo.com/news/exclusive-escape-velocity-raises-62-130000621.htmlhttps://x.com/intangiblecoins/status/2019056067930477043?s=20https://x.com/tether/status/2019520461302804919?s=20https://x.com/TFTC21/status/2019826399641846125?s=20https://finance.yahoo.com/news/pave-bank-secures-39m-funding-163111664.htmlhttps://finance.yahoo.com/news/palmer-luckey-backed-erebor-receives-225304165.htmlhttps://www.anchorage.com/insights/anchorage-digital-tether-introduce-usathttps://tether.io/news/tether-announces-100-million-strategic-equity-investment-in-anchorage-digital/https://archive.ph/odfMv#selection-1577.0-1577.68Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/

In Episode 23 of The ₿roadcast, Bram Kanstein, Brian Cubellis, and Michael Tanguma break down the most important Bitcoin and macro developments from the past few weeks.00:00 - The Believers Are Being Tested06:28 - A Silent Clock Ticking in the Background17:25 - 90% of ETF Capital Hasn't Moved28:44 - The DAT Reckoning41:18 - Why Hasn't Burry Figured It Out?53:24 - Bitcoin Is a 10x Over Gold58:42 - Volatility Is Not Tail Risk1:05:51 - Paper Bitcoin Has Less Wiggle Room1:13:52 - Crypto Is Unraveling1:22:56 - Fundamentals Up, Price DownThe ₿roadcast: Bitcoin culture meets Business & Finance. We catch up LIVE on news, tweets, videos, charts, trends, and other Bitcoin related content that stood out to us in the past two weeks ⚡️ Published on Saturday at 9AM EST / 3PM CET.

The Last Trade: Eric Balchunas of Bloomberg breaks down bitcoin's brutal drawdown, why 94% of ETF investors aren't selling, the "silent IPO" of OG holders, and the macro case for what comes next.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.⁠UPCOMING WEBINAR⁠👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance👉 Institutional: https://onrampbitcoin.com/products/institutional👉 Business: https://onrampbitcoin.com/products/business📩 Schedule a briefing: https://onrampbitcoin.com/contactEric Balchunas on X: https://x.com/EricBalchunasThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeEric Balchunas returns to The Last Trade to put bitcoin's 45% drawdown in perspective. Drawing on his deep expertise in ETF flows and investor behavior, Eric makes the case that this correction — while painful — is completely normal. With 94% of bitcoin ETF assets still intact and the fundamental debasement thesis unchanged, the real story may be less about what's going wrong and more about the price investors pay for outsized long-term returns.The conversation covers the "silent IPO" of OG holders taking profits, why ETF investors are the smart money in this cycle, the Kevin Warsh Fed chair implications, and why short-term narratives drawn from a year of data are "so dumb." Eric also shares what's exciting him in the broader ETF space — including the race to get SpaceX and other private companies into exchange-traded wrappers.🧠 Chapters02:07 — Intro & Welcome Back Eric Balchunas04:16 — "Bitcoin Is Rocky Balboa" & Contextualizing Drawdowns10:18 — Volatility Is the Cost of Admission13:30 — The Silent IPO: OGs Selling & Why That's OK23:41 — Kevin Warsh, the Fed & the Trump Put34:58 — Understanding the Problem to Understand Bitcoin38:59 — Why 94% of ETF Investors Aren't Selling45:41 — Value Investing Wisdom & Human Psychology49:51 — Crypto Contagion, Tokenization & Bitcoin's Separate Lane55:35 — Vanguard vs. BlackRock & the Race for Private Markets1:06:00 — Closing Thoughts, Outro & Disclaimer💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with OnrampPresented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.02:10 - The Bitcoin Paradox: Everything We Wanted Except Price11:32 - The Stablecoin Legislation Battle21:05 - Elon Musk & The Singularity Prediction27:16 - Why Washington Only Wants to Talk Stablecoins36:42 - "SaaS Is Dead" - The AI Disruption of Software44:43 - The Purpose Economy: Finding Fulfillment Beyond Work52:49 - Compressing Innovation Cycles57:48 - The Ticking Clock on Monetizing Ones and Zeros1:09:12 - Bitcoin as the "Leash" on AI: The Yin and Yang Thesis1:12:29 - SpatialGen & The Future of Virtual ExperiencesIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Keep up with Cam Doody:https://x.com/camdoodyhttps://www.linkedin.com/in/cam-doody-b489a124/https://www.justlaybrick.com/Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/

The Last Trade: Gold and silver surge while bitcoin stalls — Mel Mattison unpacks the macro divergence, the Clarity Act's failure, and why the fundamental case for non-USD assets is only getting stronger.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance👉 Institutional: https://onrampbitcoin.com/products/institutional👉 Business: https://onrampbitcoin.com/products/business📩 Schedule a briefing: https://onrampbitcoin.com/contactUPCOMING WEBINAR: https://us06web.zoom.us/webinar/register/1517685004120/WN_yC29RjYoQsq6KyjyYH4ouAThe Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.🎙️ About This EpisodeMel Mattison returns to explain why bitcoin hasn't participated in the broader rally in non-USD assets — even as gold hits all-time highs and emerging markets outperform. Rather than abandoning his thesis, Mel frames bitcoin as being in its "puberty stage," with uneven growth before reaching adult stability.The conversation unpacks the real reason the Clarity Act failed: stablecoins with yield threaten the banking system's core business model. We explore the sovereign debt picture, why Europe may be the real powder keg, and how the Fed will eventually be forced to expand its balance sheet as traditional treasury buyers exit.We close on potential upside surprises — including Trump's possible use of Defense Department vehicles to buy bitcoin — and why deflationary forces from AI and demographics may thread the needle between debasement and collapse.🧠 Chapters00:00 — 2026 Market Recap & Why Bitcoin Is Stalling09:29 — Bitcoin's "Puberty Stage" & Investor Base Turnover24:55 — Emerging Markets, Gold & Non-USD Assets Winning35:00 — The Clarity Act, Banks & the Inflation Tax50:23 — Europe as the Powder Keg & Sovereign Debt Risks58:06 — AI, Demographics & the Permanent Underclass💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

Scarce Assets: Jeroen Blokland explains why bonds have destroyed wealth for 20 years, how $124 trillion in generational wealth will reshape portfolios, & why gold at $5,000 is just the beginning.--- 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance👉 Institutional: https://onrampbitcoin.com/products/institutional👉 Business: https://onrampbitcoin.com/products/business📩 Schedule a briefing: https://onrampbitcoin.com/contactJackson Mikalic on X // Jeroen Blokland on X // Jeroen Blokland on LinkedIn // Jeroen's new book🎙️ About This EpisodeJeroen Blokland, founder of the Blokland Smart Multi-Asset Fund and author of The Great Rebalancing, joins Scarce Assets to explain why the traditional 60/40 portfolio is broken—and what replaces it. With 20+ years building multi-asset portfolios, Jeroen left traditional finance to launch a fund focused on scarce assets: quality stocks, physical gold, and directly-held Bitcoin. We discuss why bonds have delivered negative real returns for two decades, how gold at $5,000 still isn't enough to rebalance the system, the mechanics of financial repression, why owning assets outside the system matters more than ever, and how $124 trillion in generational wealth transfer will reshape portfolios. The conversation also covers Bitcoin's coming catalyst and the AI investment bubble Jeroen sees forming.Scarce Assets: a biweekly podcast presented by Onramp which delves into the emergent role of bitcoin in finance professionals' strategies and outlooks. Hosted by Jackson Mikalic, Scarce Assets provides invaluable insights for wealth managers aiming to outperform their peers in the decades ahead. Finance professionals everywhere know about stocks and bonds, but the macroeconomic outlook requires that serious investors pay close attention to another category: Scarce Assets.🧠 Chapters00:00 — Gold's Historic Rally to $5,00003:08 — What's Driving the Gold Breakout08:43 — How Long Will the Rally Last?16:20 — The Myth of Central Bank Independence21:54 — Trussonomics: When Bond Markets Strike Back29:58 — The Great Rebalancing Defined38:40 — Financial Repression & Forced Bond Buying47:44 — Owning Assets Outside the System53:23 — The $124 Trillion Wealth Transfer59:16 — AI Productivity Gains vs. Investment Bubble1:06:58 — Bitcoin's Catalyst & 2026 Outlook1:10:41 — Where to Find Jeroen's Book, Outro & Disclaimer💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets