Onramp Bitcoin Media

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

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 - Market Dynamics of Precious Metals and Bitcoin06:02 - Infrastructure Developments in Digital Assets12:01 - IPO Trends in the Digital Assets Space17:44 - The Future of Digital Assets and Banking23:47 - AI's Impact on Financial Services29:44 - The Evolution of Bitcoin and Silver35:39 - The Centralization of Bitcoin Ownership41:43 - Navigating the Challenges of Physical Precious MetalsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://finance.yahoo.com/news/bitgo-debuts-york-stock-exchange-132125936.htmlhttps://x.com/pitdesi/status/2014466502016061456https://x.com/jasonlk/status/2014745189794144420https://www.theblock.co/post/386066/steak-n-shake-adds-10-million-to-btc-treasury-eight-months-after-lightning-network-rollouthttps://www.theblock.co/post/386810/ledger-mulls-new-york-ipohttps://archive.ph/RpgdOhttps://x.com/lopp/status/2015411078214340763?s=20https://x.com/StoicTA/status/2014701409682555064?s=20https://www.reuters.com/world/fdic-clears-way-ford-general-motors-set-up-industrial-banks-2026-01-22/https://crypto-fundraising.info/blog/2025-crypto-fundraising-report/https://www.techinasia.com/news/sg-crypto-startup-veera-raises-10mhttps://x.com/MTanguma/status/2015857475606429922?s=20https://www.wsj.com/finance/banking/jpmorgan-cuts-all-ties-with-proxy-advisers-in-industry-first-78c43d5fKeep 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 22 of The ₿roadcast, Bram Kanstein, Brian Cubellis, and SPECIAL GUEST Jackson Mikalic break down the most important Bitcoin and macro developments from the past few weeks.00:00 - Coinbase CEO vs. French Central Banker06:28 - The Elites Have No Clue10:22 - Davos 2025: Something Shifted16:39 - Crypto Is Dead, Bitcoin Wins37:09 - Gold Added $20 Trillion — Bitcoin Is Next44:46 - The Most Unfalsifiable Ledger Ever Created54:01 - Why This Takes Longer Than You Think1:08:10 - Why Hasn't Michael Burry Figured Out Bitcoin?The ₿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: Davos signals a shift in the monetary order as sovereign debt cracks, gold leads, and bitcoin emerges as a neutral alternative.--- 🔸 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 EpisodeAt the World Economic Forum, bitcoin, sovereign debt, and the durability of the fiat system were debated more directly than ever before. We break down Brian Armstrong’s exchange with the Bank of France, Ken Griffin’s warning on fiscal fragility following Japan’s bond shock, and Ray Dalio’s blunt assessment that “the monetary order is breaking down.”Rather than focusing on short-term price action, the conversation centers on order of operations: why gold absorbs the first wave of sovereign stress, why central banks are quietly repricing reserves, and why bitcoin increasingly earns the bid as a neutral, issuer-less alternative in a world of rising political and monetary risk.We also explore Trump’s push for U.S. leadership in digital assets, the state of market structure legislation, and why regulatory clarity matters more for plumbing than price. From there, we connect the dots between stablecoin proliferation, reserve credibility, and why paper claims versus true ownership will matter more in the next phase of this cycle.The episode closes on AI, fiscal “Hail Mary” thinking, and why technology-driven deflation colliding with policy-driven debasement only raises the premium on sound savings.🧠 Chapters00:00 — Bitcoin Price Noise vs Monetary Signal02:17 — Gold’s Breakout & the Order of Operations09:12 — Davos Confronts Issuer-Less Money21:09 — Sovereign Debt & the AI Escape Fantasy29:55 — Trust Erosion, Taxes, & Counterparty Risk36:06 — Why This Isn’t a Reflexive Bitcoin Cycle41:32 — Market Structure, Policy Signals, & Access45:52 — Quantum Risk Narratives & Allocation Behavior47:58 — Stablecoins as Rails, Bitcoin as Reserve51:18 — Practical Frameworks & Closing Thoughts💡 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.02:22 - The Clarity Act Markup + Stablecoin Yield Fight16:48 - State Street Joins the Crypto Rush22:01 - Goldman: Tokenization + Prediction Markets24:04 - Distributions Versus Niches in Bitcoin Infrastructure32:06 - TradFi Floodgates into Digital Assets33:21 - Consumer Versus Enterprise Stablecoin Adoption42:18 - Latest In Digital Asset Infrastructure Fundraises55:56 - AI Tools Impact on EntrepreneurshipIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly: https://www.earlyriders.com/researchLinks discussed:https://fortune.com/2026/01/14/alpaca-fundraise-series-d-brokerage-infrastructure/https://www.bloomberg.com/news/articles/2026-01-15/state-street-is-joining-crypto-rush-with-digital-asset-rollouthttps://www.theblock.co/post/385924/belarus-authorizes-cryptobankshttps://x.com/TheOneandOmsy/status/2011673735065939979?s=20https://www.coindesk.com/business/2026/01/14/germany-s-second-largest-lender-dz-bank-secures-retail-crypto-trading-mica-licensehttps://coinpedia.org/crypto-live-news/standard-chartered-to-launch-crypto-prime-brokeragehttps://bitcoinmagazine.com/news/21shares-launches-bitcoin-and-gold-etphttps://decrypt.co/354542/visa-partners-with-bvnk-to-enable-stablecoin-payouts-on-visa-directhttps://x.com/BitcoinMagazine/status/2013205830288499021?s=20https://x.com/Houlgrave/status/2012208491578950089?s=20https://www.theblock.co/post/386048/anchorage-digital-could-raise-up-to-400-million-as-ipo-rumors-swirl-bloomberghttps://www.rain.xyz/resources/rain-raises-250m-series-c-to-scale-stablecoin-powered-payments-infrastructure-for-global-enterprisesKeep 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: Marty Bent breaks down bitcoin’s 2026 setup, Fed vs Treasury tension, and why the denominator is breaking.--- 🔸 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 EpisodeMarty Bent (TFTC) joins the show to explain why 2025 looked like a year of consolidation, how tax-loss harvesting and year-end positioning may have created artificial pressure, and why the next leg could be driven by something deeper than a typical cycle narrative. We discuss the “Last Trade” order of operations, where gold and silver absorb the first wave of sovereign and institutional stress, and Bitcoin increasingly earns the bid as the superior digital reserve asset.We also dig into the growing public tension between the Fed and Treasury, why “independence” is starting to look like theater, and how trust erosion is becoming a primary macro driver. From there, we debate the role of stablecoins as rails versus money, the risks of CBDC/digital ID creep, and why sovereignty still has a high bar.Finally, we close on AI: the productivity unlock for high-agency builders, the coming barbell economy, and why sound savings matter more in a world where technology accelerates deflation while policy accelerates debasement.🧠 Chapters00:00 — Marty Bent Returns & Bitcoin Starts 2026 Strong05:52 — Sovereign Stress & Bitcoin as a Neutral Reserve12:14 — Fed vs Treasury, Monetary Authority, Trust Erosion17:13 — Fraud, Waste, & the Hard Asset Rotation27:24 — Stablecoins, CBDCs, Digital ID Risk34:28 — AI, Privacy, Productivity, Agency Divide52:07 — Gold & Silver Dislocations, Physical vs Paper58:03 — Broken Denominator, Supercycle Framing01:08:53 — Guest Requests & Onramp Update01:11:27 — 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

Scarce Assets: Alex Pron explains why wealth managers are finally embracing Bitcoin, how Wall Street distribution changes the market, & why long-term conviction matters more than cycles.--- 🔸 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 --- https://x.com/macrojack21Alex Pron on X --- https://x.com/Crossover_Alex🎙️ About This EpisodeAlex Pron, Founder and Wealth Strategist at CrossOver Capital Advisors, joins Scarce Assets for a deep conversation on Bitcoin’s maturation inside traditional wealth management, the slow capitulation of Wall Street, and why Bitcoin’s fundamentals are strengthening even when price action lags.Alex shares his journey from EY and Merrill Lynch to launching an independent RIA so he could fully educate clients on Bitcoin as part of a fiduciary portfolio framework. Today, nearly 90% of his clients hold Bitcoin exposure.We discuss why most investors still misunderstand Bitcoin’s supply dynamics, how ETFs created Bitcoin’s “IPO moment,” why 2025 price action frustrated expectations, and how institutional distribution may permanently change market structure. The conversation also explores Bitcoin’s role in divorce settlements, long-term portfolio construction, AI-driven deflation, and why the four-year cycle may be fading.Topics covered include:- Why Alex left Merrill to build a Bitcoin-forward RIA- The simple portfolio math that helps clients understand Bitcoin risk- How ETF liquidity enabled whale distribution without collapsing price- Bitcoin vs crypto: strategic allocation vs speculative exposure- Vanguard, Merrill, Bank of America & Morgan Stanley’s quiet pivot- Why 2025 fundamentals improved while price disappointed- The “Bitcoin IPO moment” and what comes after it- AI, scarcity, and why Bitcoin differs from gold and commodities- Why time horizon matters more than timing the market- How advisors help clients stay committed through volatilityScarce 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 — Wealth Management Meets Bitcoin07:33 — How Bitcoin Changed an RIA’s Market Lens13:39 — The Supply Story: Scarcity, Issuance, and 21M19:27 — Bitcoin vs Crypto: Portfolio Roles and Risk25:23 — Where Bitcoin Demand Comes From Next30:32 — 2025: Price Action vs Fundamentals (What Happened)41:31 — AI, Deflation, and Why Bitcoin Differs From Metals54:46 — Sentiment, Cycles, and the Long-Term Setup58:42 — Outro and 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.00:30 - Morgan Stanley's Bitcoin ETF Filing12:30 - Rumble and Tether's Crypto Wallet Launch18:07 - Walmart's One Pay Bitcoin Integration29:49 - Early Riders Team Updates31:58 - The White Paper: A Manifesto For All Future Capital Allocation34:26 - Building Bridges: Traditional Finance Meets Bitcoin36:47 - The Bitcoin Standard: A New Era of Capital Formation38:46 - Debasement and the Search for Sound Money43:30 - The Future of Venture Capital: Aligning Incentives47:03 - AI and the New Age of Entrepreneurship55:24 - Onramp for Everyone: Expanding Access to BitcoinIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://bitcoin.docsend.com/view/aan9dw6fkd2z746ehttps://www.bloomberg.com/news/articles/2026-01-09/walmart-backed-super-app-onepay-hits-4-billion-valuation?embedded-checkout=truehttps://www.msn.com/en-us/money/savingandinvesting/morgan-stanley-is-betting-big-on-digital-assets-workplace-services-and-private-markets-how-they-tie-together/ar-AA1TP8N5https://x.com/sytaylor/status/2009236033603244517?s=20https://www.bloomberg.com/news/articles/2026-01-12/stanchart-said-to-prepare-crypto-expansion-with-prime-brokerage?embedded-checkout=truehttps://x.com/faryarshirzad/status/2008898606317687058?s=20https://x.com/aakashgupta/status/2007666720656511233https://decrypt.co/353693/morgan-stanley-registers-bitcoin-solana-funds-sechttps://corp.rumble.com/blog/rumble-and-tether-launch-crypto-wallet-for-creator-economy/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/

In Episode 21 of The ₿roadcast, Bram Kanstein, Michael Tanguma, and Brian Cubellis break down the most important Bitcoin and macro developments from the past few weeks.The conversation centers on Morgan Stanley’s Bitcoin ETF filing, what it really signals about institutional demand, and why the shift from “allowed” to “recommended” marks a new phase of adoption. From AI-driven abundance and information slop to Bitcoin’s role as a verifiable truth anchor, the episode connects Wall Street, custody, regulation, energy, and game theory into a single framework.00:00 — Bullish on Bitcoin (We’re Back)03:40 — AI, Vibe Coding, and the Return of the Builder Era08:10 — Morgan Stanley Files a Bitcoin ETF12:45 — From Access to Recommendation17:30 — Financialization, Collateral, and Bitcoin’s Wall Street Endgame22:20 — “Bear Market” Psychology vs Structural Reality27:40 — The Supply Problem No One Is Positioned For32:10 — Gold, Bonds, and the Real Rotation Trade36:50 — Regulation Signals: The Clarity Act & Political BTC Buys41:20 — Venezuela, Sovereign Bitcoin, and Strategic Reserves46:30 — AI, Consciousness, and the Coming Slop Era52:10 — Bitcoin as a Truth Anchor57:40 — Prediction Markets, Degeneracy, and Growing Pains1:01:30 — Hashrate: The Signal That Never Lies1:06:10 — The Real Adoption Bottleneck: Custody & Physical Risk1:12:30 — CNBC Panic, Monetary Debasement, and the Inevitable Trend1:15:40 — Final Thoughts + Where Should We Meet in 2026?The ₿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: Morgan Stanley’s ETF filing and Bank of America’s allocation guidance mark a shift in Bitcoin’s market structure. We discuss institutional flows, the limits of cycle models, and why custody risk is becoming central to adoption.--- 🔸 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/contact🎙️ About This EpisodeIn the first Last Trade of 2026, we unpack why Morgan Stanley’s ETF filing and Bank of America’s advisor rollout are major signals of Bitcoin’s institutional maturation. We discuss how shifting access and solicitation may reshape the cycle debate, why fundamentals can strengthen even when price chops, and what it means that Bitcoin settled roughly $25T in value in 2025.We also explore the rise of “long degeneracy” as a symptom of broken incentives, then close on the part of adoption most people avoid: custody risk. As Bitcoin’s value grows, so does the incentive for attacks and concentration failures, which is why market structure and resilient custody models matter more than ever.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.🧠 Chapters00:00 — Why This Year Feels Different for Bitcoin02:05 — Morgan Stanley’s ETF Filing & Institutional Demand11:30 — Sentiment vs. Fundamentals: 2026 Bitcoin Setup21:34 — Degeneracy, Nihilism, Work, & Money34:12 — Agency, AI, & the Future of Wealth Creation37:14 — Dead Internet, Slop, & the Return to Analog Signal39:22 — Running It Hot: AI, Growth Narratives, & Asset Inflation43:09 — Fraud, GDP, & the Trust Breakdown49:43 — Institutional Trust Erosion & Market Consequences53:17 — Mimetic Momentum: What Ignites the Next Reflexive Move01:04:10 — Gold vs. Bitcoin: Wealth Effects & the Broken Denominator01:07:56 — Custody Risk Comes Into Focus01:22:16 — Market Structure, Custody, & Bitcoin’s Path Forward01:27:08 — 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 - Welcome Back and Market Overview02:47 - Inflation and Asset Trends05:44 - Regulatory Changes and Institutional Adoption08:53 - Security Risks and Custody Solutions11:52 - Market Sentiment and Long-Term Thinking14:57 - The Role of AI and Future Predictions33:15 - Navigating the Content Proliferation Challenge35:59 - The Future of Value in Digital Content40:19 - Stablecoins vs. Bitcoin: The Future of Transactions42:10 - Tether's Strategic Positioning in Global Markets48:43 - The Shift of Talent and Capital to Favorable Jurisdictions56:17 - Understanding the Economic Landscape and Future OpportunitiesIf 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/exec_sum/status/2005751198725640395?s=20https://x.com/bearlyai/status/2006474217206985085?s=20https://x.com/paoloardoino/status/2002414704753586398?s=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: Matt Odell on the 2025 postmortem: why BTC lagged gold, how DATs wrecked sentiment, what the quantum debate gets wrong, and what changes when institutions take the wheel.--- 🔸 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/contactMatt Odell: https://odell.xyz🎙️ About This EpisodeWith Matt Odell in the studio, we run a proper 2025 postmortem: why the “OGs are dumping” narrative never dies, what actually changes when Bitcoin’s liquidity deepens, and why it’s healthy (not bearish) for long-term supply to distribute over time.From there, we tackle the elephant in the room: gold and equities ripped while BTC chopped. Matt’s take is simple and brutal, retail is broke, capital is hiding in perceived safe havens, and Bitcoin still gets treated like a high-risk tech trade if you don’t understand self-custody. We also dig into the October break in the crypto casino and how forced sellers can pin price even when long-term fundamentals look strong.Then we get honest about the cultural and structural fallout from “Bitcoin treasury companies” & DATs: how leverage-on-leverage turned into a negative feedback loop, why board seats and influencer incentives distorted the narrative, and why the only benchmark that matters is whether these wrappers can actually beat spot bitcoin over time.Finally, we hit the quantum panic. Matt lays out a sober framework: upgrade carefully, opt-in where possible, don’t rush into untested cryptography, and don’t even flirt with protocol-level seizures or “freezing” coins. If Bitcoin compromises neutral property rights to “save” the market, it’s no longer Bitcoin. We close with what this all implies for 2026: whether cycles are fading, where the next reflexive move could come from, and why the most bearish sentiment is often the best tell.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.🧠 Chapters00:00 - Christmas Greetings + Why 2025 Felt So Weird01:42 - “OGs Dumping” Bitcoin: Meme Narrative vs. Reality03:35 - Liquidity, Distribution, & Engagement Bait06:24 - Sentiment, Macro, & the “Quiet Depression” View09:42 - Institutions, ETFs, & How Market Structure Changes the Cycle12:35 - DATs / Treasury-Co Mania: Why It Took Over 202516:27 - Cultural Fragmentation + Incentives22:36 - Quantum FUD Deep Dive45:25 - Why the Next Move Will Catch People Offside48:25 - Centralization Risk, Custodians, & How a Fork Would Play Out55:28 - Why Quantum Became the “Last Remaining FUD” 59:11 - Stablecoins, Tether, & the Institutional Rails Story01:02:20 - SBR: Expectations vs. Reality + 2026 Scenarios01:06:20 - Gold’s Run, the Debasement Trade, & the Bitcoin Setup01:10:27 - 2026 Outlook: Cycle Theories & What Could Flip the Switch01:29:21 - 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 - Year-End Reflections and Top Deals12:45 - Market Signals and ETF Flows25:13 - Stablecoins and Digital Asset Integration28:19 - Noise in the Market: DATs and Cycle Theory35:26 - Reevaluating Bitcoin Cycles36:01 - The Quantum Debate37:09 - Predictions for Bitcoin's Future41:39 - Market Dynamics and Predictions53:45 - Innovative Banking Solutions for 202659:55 - The Future of Multi-Institution CustodyIf 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 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: Jeff Deist explains why “saving” died in the fiat era, how markets morphed into a casino, why gold is quietly re-monetizing, and what Bitcoin’s financialization gets dangerously wrong as younger generations face a broken denominator, housing despair, and a culture of Hail Mary bets.--- 🔸 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/contactJeff Deist on X: https://x.com/jeffdeist🎙️ About This EpisodeWith Jeff Deist (General Counsel at Monetary Metals, former President of the Mises Institute, former Chief of Staff to Ron Paul), we go back to first principles: what Austrian economics actually is, why “macro” often becomes storytelling, and how sound money frames human cooperation, scarcity, and long-term civilization building.From there, we diagnose the modern U.S. economy through Deist’s lens: the post-1982 debt era, collapsing savings as a virtue, and the way suppressed rates turned equities and housing into de facto “savings accounts.” Jeff argues this is why under-40s feel trapped, why wealth inequality becomes socially corrosive, and why a culture that can’t save drifts toward speculation, despair, and even prediction markets as financialized entertainment.We then zoom in on gold’s breakout year and what it signals. Jeff makes the case that gold’s premium still reflects “moneyness,” especially outside the West, and explains Monetary Metals’ model for earning yield in ounces through gold leases and bonds. Finally, we close on Bitcoin’s institutional path and the risks of financialization: why Deist dislikes BTC treasury companies, how distorted incentives pull talent into financial engineering over real production, and what it means for capital markets when “numbers go up” becomes the organizing principle.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.🧠 Chapters00:00 – Welcome + Jeff Deist’s Background02:17 – Discovering Austrian Economics04:38 – Libertarianism vs. Economics08:43 – Bitcoin as a Sound Money On-Ramp14:13 – Inequality, Housing, & the Under-40 Squeeze19:17 – Distorted Capital Markets & Malinvestment23:30 – What Money Is: Rates, Inflation, & Savings28:11 – Why Savings Died39:12 – Speculation Culture & “Betting on Everything”42:03 – Gold’s Breakout & “Moneyness”46:23 – Gold vs. Bitcoin51:33 – Preserving Wealth in Uncertainty56:43 – Government, Fiscal Dominance, & Tech Deflation01:04:15 – Learning as the Real Edge01:12:42 – Bitcoin Financialization & Treasury Companies01:21:38 – 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

Scarce Assets: Vance Crowe explains why BTC is becoming the superior store of value, how it could reshape farmland economics, & why family legacy may be the most important asset you pass on.--- 🔸 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 --- https://x.com/macrojack21Vance Crowe on X --- https://x.com/VanceCrowe🎙️ About This EpisodeVance Crowe joins Scarce Assets for a wide-ranging conversation on family legacy, farmland economics, inflation, and why Bitcoin is becoming the superior store of value. From his early career at the World Bank and Monsanto to founding Legacy Interviews, Vance brings a unique, real-world perspective on how sound money reshapes behavior across generations, industries, and economies.We explore his thesis that Bitcoin will eventually demonetize farmland, how inflation quietly destabilizes societies, why cycles matter far less than conviction, and why running a node changed his understanding of Bitcoin forever.- The origin story of Legacy Interviews and why family storytelling is an irreplaceable asset- How a World Bank economist accidentally pushed Vance toward Bitcoin- The farmland store-of-value problem and why Bitcoin alters the economics- Inflation, The Mandibles, and the politics of a weakening currency- Hyperbitcoinization vs. stability: why Vance prefers a slow transition- Government adoption, commodities priced in BTC, and the role of hash rate- Stablecoins, dollar geopolitics, and the risk of “financial conflict”- Why most people won’t adopt Bitcoin without guided onboarding- How running a full node changed Vance’s mental model of BitcoinScarce 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 – Introduction to Vance Crowe & Legacy Interviews07:05 – How Legacy Interviews Began13:19 – The Value of Capturing Family Stories20:13 – Vance Discovers Bitcoin26:08 – Bitcoin’s Impact on Farmland & Land Values31:46 – Inflation, Mandibles & Monetary Reality36:50 – Wealth Bifurcation & Inflation Misunderstandings42:54 – Bitcoin as a Savings Technology49:52 – Adoption, Onboarding & Government Dynamics55:59 – Stablecoins, Geopolitics & Dollar Power01:00:44 – 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.00:00 - The Arrival of Banks in Digital Assets02:49 - Institutional Adoption and Regulatory Changes05:46 - The Role of Traditional Banks in Digital Assets08:43 - Partnerships and Trust in the Digital Asset Space11:49 - The Impact of PNC's Bitcoin Trading14:54 - User Behavior and Market Dynamics17:56 - The Future of Banking and Digital Asset Integration20:51 - The Centralization Debate in Digital Assets23:46 - The Evolution of Financial Products29:26 - Navigating Market Challenges31:50 - The Rise of Stablecoins in Tech34:27 - Cultural Shifts in Digital Payments36:16 - Blurring Lines in Financialization40:45 - Innovations in Banking and Fintech44:55 - Around the Horn: Insights and PredictionsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.occ.gov/news-issuances/news-releases/2025/nr-occ-2025-125.htmlhttps://x.com/BitGo/status/1999514929314038040https://www.investing.com/news/company-news/paribu-acquires-majority-stake-in-coinmena-in-turkeys-largest-fintech-deal-93CH-4392748https://www.theblock.co/post/382111/stripe-acquires-valora-wallet-team-builds-stablecoin-serviceshttps://www.globenewswire.com/news-release/2025/12/08/3201287/0/en/AllScale-Raises-5M-Seed-Led-by-YZi-Labs-to-Build-World-s-First-Self-Custody-Stablecoin-Neobank.htmlhttps://www.loopcrypto.xyz/blog/loop-crypto-is-joining-leadhttps://www.theblock.co/post/381903/pnc-bitcoin-trading-high-net-worth-clients-coinbase-tie-uphttps://archive.ph/tqGv6#selection-1037.11-1037.97https://bitcoinmagazine.com/news/coinbase-prediction-tokenized-stockshttps://x.com/TheBlock__/status/1998886176447488055?s=20https://www.theblock.co/post/382209/binance-api-update-hints-at-stock-perpetual-contracts-as-exchanges-eye-tradfi-marketshttps://x.com/gondorfi/status/1998800082070884751?s=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: Tad Smith unpacks why Bitcoin’s “disappointing” 2025 might be the perfect setup, how gold and sovereign flows are quietly rewriting the sound money playbook, and what AI, labor shocks, and Fed policy mean for younger generations staring at a broken system and a massive opportunity.--- 🔸 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/contact🎙️ About This EpisodeWith returning guest Tad Smith (former public-company CEO and NYU Stern professor), we zoom out on Bitcoin’s “underwhelming” 2025: why sentiment feels terrible at ~91K, how expectations got ahead of reality, and why he likes the current setup precisely because narrative and positioning look so weak. Tad contrasts gold’s structural central-bank bid with Bitcoin’s emerging endowment and sovereign bid, digs into Harvard vs Abu Dhabi’s BTC motives, and explains what it means when elite institutions are willing to take reputational risk just to get exposure.From there, we walk through the Fed’s recent cuts, balance sheet “relief,” and the slow-motion regime shift heading into 2026—arguing that liquidity and policy, not a mystical four-year cycle, drive BTC. Then Tad delivers a blunt generational autopsy on debt, housing, and student loans, lays out how AI really threatens white-collar labor, and sketches the likely path to “soft UBI” through more generous existing programs. We close on optimism: why this is still the best time in history to be young and high-agency, how CEOs are actually using AI to reshape labor and productivity, and how Tad rebuilt his NYU Stern course so AI is a required superpower instead of a banned shortcut.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.🧠 Chapters00:00 – Introduction, Tad’s Return & Market Overview02:42 – Bitcoin’s 2025 Performance and “Disappointing” Sentiment06:53 – Narratives in Non-Yielding Assets: Bitcoin vs. Gold08:50 – Harvard, Abu Dhabi & Quiet Institutional Bitcoin Allocations12:18 – Central Banks Buying Gold and the Emerging Sovereign/Endowment BTC Bid21:39 – Federal Reserve Rate Cuts, Balance Sheet “Relief,” and Liquidity Shift32:02 – The Treasury–Fed Relationship and the Myth of Full Independence37:10 – AI’s Impact on the Labor Market and Career Paths for the Young38:39 – Generational Accountability: Debt, Housing, and a Rigged Starting Line42:26 – AI, Job Displacement, and the Road to “Soft UBI”44:47 – Agency, Entrepreneurship, and Opportunity in a Changing Economy49:56 – Education in the AI Era: Bans, Blue Books, and Missed Opportunities01:05:25 – Inside Tad’s NYU Course: Requiring AI and Redesigning the Classroom01:11:55 – Optimism for the Future: Bitcoin, AI, and Personal Responsibility01:13:14 – Outro and 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 Onramp⁠⁠⁠⁠⁠⁠ // ⁠⁠⁠⁠⁠⁠Register for Early Riders & Onramp State of the Bitcoin Industry Roundtable⁠⁠⁠⁠⁠⁠Presented 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 Market Sentiment02:00 - Risk Management and Investment Philosophy04:40 - Bitcoin vs. Traditional Assets07:31 - Larry Fink's Insights on Bitcoin10:09 - Sovereign Wealth and Bitcoin Accumulation13:03 - Global Trends in Crypto Adoption16:03 - Middle East's Strategic Moves in Crypto18:52 - Game Theory and Global Crypto Dynamics22:08 - Emerging Markets and Crypto Services24:49 - Infrastructure Development in Digital Assets26:17 - The Importance of Domain Expertise in Cryptocurrency27:16 - Future of Cryptocurrency and Market Dynamics29:21 - The Rise of Cybercrime in the Crypto Space30:20 - Centralization Risks in Cryptocurrency Custody31:56 - The Gold Standard and Bitcoin's Centralization Problem34:25 - Navigating Trust and Custody in Bitcoin37:11 - The Adoption Challenge: From Zero to Bitcoin40:01 - The Stakes of Digital Asset Custody44:18 - Emerging Trends in Bitcoin Infrastructure46:06 - Recent Developments in Crypto RegulationIf 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/MTanguma/status/1996209093858501012?s=20⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.cftc.gov/PressRoom/PressReleases/9145-25⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.theblock.co/post/381644/coinbase-resumes-user-onboarding-india⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.theblock.co/post/381655/robinhood-indonesia-acquisitions⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.theblock.co/post/381662/argentina-domestic-bank-crypto⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://x.com/thisisorlando/status/1996284429455822993?s=20⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bloomingbit.io/en/feed/news/101972⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.coindesk.com/policy/2025/12/08/binance-wins-full-adgm-approval-for-exchange-clearing-and-brokerage-operations⁠⁠⁠⁠⁠⁠Keep 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: Mark Yusko breaks down why the bitcoin cycle isn’t dead, how futures and index flows “tame” BTC, why gold and oil remain the real benchmarks, and what this year’s post-peak reset signals about an adversarial, institutional future.--- 🔸 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/contact🎙️ About This EpisodeWith recurring guest Mark W. Yusko, we zoom out on Bitcoin’s 2025 run: why he still sees a 3 years 11 months, block-based cycle, how fair value models frame the recent peak around $126K, and why a smaller overshoot can mean a healthier foundation for the next phase. We unpack how CME futures and “paper BTC” reshaped market structure, what it really means to judge Bitcoin in gold and oil terms, and how prediction markets and casino-ified finance fit into a world of engineered liquidity and index-driven equities.From there, we get into the quiet endowment and institutional bid (via Paradigm, Andreessen, and now ETFs), the structural “rigging” of 401(k) and index flows, and the political/regulatory edge of the Genius Act, Clarity Act, and CBDC ambitions. Mark lays out why Bitcoin and gold remain core stores of purchasing power in a heavily financialized system—and how allocators can navigate an increasingly adversarial environment while keeping the message human, savings-focused, and long-term.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.🧠 Chapters00:00 – Welcoming Mark Yusko back & Thanksgiving sentiment02:15 – No blow-off top: did the 2025 cycle peak quietly at $126K?05:36 – “Taming” Bitcoin: CME futures, paper BTC, and market structure10:54 – Bitcoin in gold and oil terms: has the real bull market started?17:46 – Prediction markets, gambling, and separating signal from opinion25:54 – Post-2020 money printing, MMT, and gold/BTC as liquidity sponges30:31 – Tech cycles, venture vintages, and where this crypto buildout fits35:54 – Rigged equities: 401(k)s, index flows, and boomer entitlements48:42 – Vanguard, JPM, IBIT flows & why “coincidences” cluster on Wall Street55:22 – Endowments, Paradigm/Andreessen, and quiet institutional BTC adoption1:08:17 – Genius Act, Clarity Act, CBDCs & the “then they fight you” phase1:20:15 – Internet vs bitcoin, censorship, and an adversarial next decade💡 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

Peter Grosskopf — former CEO of Sprott and co-founder of Argo — joins Scarce Assets to unpack why gold has been the runaway winner of 2025 and what that says about debt, inflation, and the end of “risk-free” bonds.Argo // SCP Resource FinanceConnect with Onramp // Onramp Institutional // ⁠Jackson Mikalic on X⁠WHAT WE COVER:- How gold became 2025’s top-performing major asset while “nothing was really wrong”- Central bank de-dollarization: SWIFT sanctions, exploding US deficits, and reserve rebalancing- Why gold is quietly replacing Treasuries as the global “safe asset”- The debasement trade: protecting purchasing power when CPI underreports reality- Peter’s personal allocation: ~50% in gold, silver, Argo balances, and miners- Liquidity, QT’s end, and why the Fed’s balance sheet likely has to grow again- Inside Argo: 24/7 direct-to-vault gold, outside the financial system, at ETF-beating costs- Tokenized gold (Tether, Pax) and why custody, vaults, and bankruptcy remoteness matterKEY INSIGHTS:- Gold’s 2025 move isn’t about a single crisis — it’s decades of debasement risk finally being priced in- Central banks aren’t just “adding diversification”; they’re hedging both sanctions and US fiscal decay- For Peter, gold is no longer a hedge against dollars — it’s the base unit of savings- Official inflation at 2–3% doesn’t match lived experience; the real erosion feels closer to 5–7% with violent spikes- Treasuries are losing their status as the default safe haven; gold is stepping into that role- Bitcoin is still digesting leverage and maturing from a speculative tech trade into a long-horizon macro asset- Direct-to-vault and tokenized gold will sit at the core of the next monetary plumbing stackPETER’S THESIS: “Gold isn’t just a crisis hedge anymore. It’s the base case. The real experiment is trying to run this level of debt on fiat and calling it ‘risk-free.’”WHO IS PETER GROSSKOPF?- Co-Founder — Argo, a digital platform for direct-to-vault physical gold- Former CEO — Sprott (2010–2022), leading one of the world’s premier precious metals firms- Managing Partner — SCP Resource Finance, focused on mining and real asset finance- 35+ Years in Financial Services — spanning trading, asset management, and capital markets- Lifelong precious metals investor now bridging vaulted gold with modern digital railsCHAPTERS:00:00 - Gold’s Shock 2025 Rally & Peter’s Background07:25 - Why Central Banks Are Rebuilding Gold Reserves14:20 - From 60/40 to Gold: Institutional Reallocation20:06 - Gold as the New “Safe Asset” Replacing Treasuries29:45 - Bitcoin vs Gold in 2025: Cycles, Leverage & Liquidity41:48 - Inside Argo: Direct-to-Vault Gold in the Digital Era50:04 - Tokenized Gold vs Direct Vault Ownership & Custody Risks54:40 - Key Takeaways, Where to Learn More & OutroScarce 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.Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

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 - Thanksgiving Reflections and Bitcoin Sentiment02:41 - Tether's Stability Concerns and S&P Rating10:49 - The Systemic Nature of Tether and Market Dynamics21:42 - JPMorgan and Klarna: The Future of Stablecoins28:39 - The Future of Bitcoin and Stablecoins29:40 - The State of Stablecoin Technology31:45 - Understanding Multi-Party Computation vs. Multi-Sig37:02 - The Importance of Bitcoin in Custody Solutions40:50 - The ETF Landscape and Market Competition48:53 - Structured Products and Bitcoin's Market PositionIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://finance.yahoo.com/news/nasdaq-ise-seeks-quadruple-trading-042125019.htmlhttps://www.klarna.com/international/press/klarna-launches-klarnausd-as-stablecoin-transactions-hit-usd27-trillion/https://unchainedcrypto.com/jpmorgans-deposit-token-puts-stablecoins-on-notice/https://www.theblock.co/post/380764/upbit-says-emergency-audit-of-30m-hack-uncovered-flaw-that-could-expose-private-keys?utm_campaign=website&utm_medium=referral&utm_source=newsletterhttps://www.theblock.co/post/380375/stablecoin-issuer-paxos-acquires-fordefi-crypto-custody-wallethttps://bitcoinnews.com/p/jpmorgan-structured-bitcoin-notehttps://x.com/paoloardoino/status/1995154943808839704?s=20https://finance.yahoo.com/news/p-downgrades-tether-stability-rating-210430953.htmlhttps://x.com/CryptoHayes/status/1994915256150495652https://www.reuters.com/business/coinshares-pulls-plug-select-crypto-etfs-ahead-us-listing-2025-11-28/https://www.theblock.co/post/380818/coinshares-withdraws-us-spot-etf-filings-for-xrp-solana-and-litecoin-ahead-of-nasdaq-listinghttps://decrypt.co/350376/openai-confirms-data-breach-heres-whos-impactedKeep 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: Former Blackstone partner David Thayer explains why liquidity—not cycles—drives BTC, how AI and fiscal dominance are steering policy, why gold is leading, what Texas’ ETF buy signals, and how JPM’s new BTC note underscores spot over wrappers.--- 🔸 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/contact🎙️ About This EpisodeWith David Thayer (ex-Blackstone), we reset after the pullback: the 5-year lens over daily noise; fiscal dominance and valuations in a broken fiat denominator; AI as a national-security project (energy, chips, compute) that backstops spending; and gold + BTC as “liquidity sponges.” We hit SLR tweaks and stablecoin rails as engineered demand for Treasuries, realistic quantum timelines, Texas’ first ETF allocation, JPM’s new IBIT-linked structured note (what it signals), and why “treasury companies” can’t outrun spot. We close on politicization risk—and how to keep bitcoin’s message human, bipartisan, and savings-focused.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.🧠 Chapters00:00 – Intro to David Thayer, price check, 5-year lens04:12 – Volatility as opportunity: Thanksgiving playbook06:07 – AI “bubble” or policy mandate?11:15 – National security, AI, and quantum risk17:01 – Fiscal dominance: engineered Treasury demand26:33 – Gold, China, and the U.S. Bitcoin edge28:16 – Texas ETF buy & the sound money revival38:27 – Bitcoin and politics: partisan risk54:20 – JPM’s BTC note: structure and signal1:02:28 – Treasury companies vs spot BTC1:09:29 – Gratitude and the monetary revolution💡 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

Stu Bradley, CFA, CFP — Wealth Advisor at Hightower St. Louis — joins Scarce Assets to explore how bitcoin fits into modern portfolio design, the illusion of market “cycles,” and why peace of mind matters more than price charts.With decades of experience across HSBC, UBS, Vision Capital, and now Hightower, Stu brings a global investor’s perspective on inflation, fiscal dominance, and the future of wealth management in a K-shaped economy.This episode cuts through the hype to reveal how advisors are quietly rethinking sound money, digital assets, and intergenerational planning — all while clients question the meaning of risk, time, and value in a rapidly changing financial system.Stu Bradley on LinkedIn // Hightower Wealth Advisors // Stu's Presentation, Understanding Bitcoin // ⁠Connect with Onramp⁠⁠ // ⁠⁠Onramp Institutional⁠⁠ // ⁠⁠Jackson Mikalic on X⁠WHAT WE COVER:- From HSBC and UBS to Hightower: a career across global markets- How a $20 smoothie became the “wake-up call” on inflation- Why Bitcoin represents optionality, not speculation- Fiscal dominance, QT’s end, and the K-shaped economy- The psychological side of wealth: why “peace of mind” beats alpha- How advisors are integrating BTC exposure through ETFs & custodial platforms- The coming wealth transfer and how next-gen clients will reshape the advisory modelKEY INSIGHTS DISCUSSED:- Expectations = suffering — and 2025 proved it- Bitcoin is entering its “IPO moment” as long-term holders distribute- Fiscal dominance and policy inertia make inflation a structural feature, not a bug- The top 10 mega-cap stocks now represent 75% of U.S. GDP — a concentration risk hiding in plain sight- Owning a small allocation of the most tamper-resistant asset in history may be the best form of risk management- The future of advice: meeting clients where they are, not where the market says they should beSTU’S THESIS: “Bitcoin isn’t about getting rich — it’s about staying solvent. When money itself is changing, optionality becomes the ultimate form of wealth.”WHO IS STU BRADLEY?- Wealth Advisor — Hightower St. Louis (managing $1.6B for 400+ families)- Former Institutional Investor — HSBC, UBS, Vision Capital Advisors- CFA & CFP Charterholder — Bridging traditional finance with digital assets- Career Coach & Educator — Founder, J. Stuart Bradley Consulting- Advocate for sound money, long-term stewardship, and client-first financial planningCHAPTERS:00:00 - Intro & Stu’s Background03:00 - From Wall Street to Hightower06:00 - The $20 Smoothie & the Inflation Epiphany10:30 - Bitcoin as Stewardship, Not Speculation15:00 - Longevity Risk & Portfolio Construction21:00 - Peace of Mind Over Price Action27:00 - How Advisors Discuss Bitcoin with Clients33:00 - 2025: No Blow-Off Top, No Problem38:00 - Fiscal Dominance & QT’s End44:00 - The K-Shaped Economy Explained50:00 - Inflation, Inequality, and the Role of Scarce Assets56:00 - The Great Wealth Transfer01:00:00 - Preparing for the Future of Advice01:03:00 - Outro & ResourcesScarce 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.Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

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 - Latest in Bitcoin price action01:46 - Kraken’s $20B IPO & Citadel’s investment10:17 - Tether’s strategic investment in Ledn & Bitcoin-only lending17:53 - VC money chases perp DEX infrastructure21:52 - Maker/Sky’s OBEX incubator & the stablecoin yield gray zone24:46 - Slash: stablecoin-first banking and demand for better money movement26:01 - Human risk management, AI scams & Doppel’s $70M raise32:48 - Cardano chain split exploit & “decentralization theater”42:13 - Rethinking the poverty line, broken stats & the debasement trade50:12 - Square/Block’s SMB Bitcoin tools & the future of merchant adoptionIf 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/378358/lighter-raises-68-million-1-5-billion-valuation-vc-bets-flood-perp-dex-infrastructure-reporthttps://www.ledn.io/post/tether-invests-in-lednhttps://www.theblock.co/post/380056/hoskinson-involves-fbi-after-developers-careless-experiment-splits-cardano-blockchainhttps://decrypt.co/349147/crypto-exchange-kraken-raises-800-million-20-billion-valuationhttps://www.doppel.com/blog/doppel-series-chttps://x.com/LayerZero_Core/status/1990822714416963636https://www.yesigiveafig.com/p/part-1-my-life-is-a-lieKeep 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: Bitcoin sentiment has cratered after a 30% drawdown, but the thesis hasn’t changed. Cycles are dead, liquidity is turning, and gold’s strength signals what’s next for BTC. Fundamentals are stronger than ever as custody, rails, and institutional demand quietly build beneath the noise.--- 🔸 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/contact🎙️ About This EpisodeSentiment ≠ fundamentals. The team dissects the drawdown (short-term holder capitulation, cycle anchoring), the macro pivot (QT end, rate-cut path, fiscal dominance), gold’s 2025 lead, BTC in gold terms, and why better rails/custody unlock new cohorts. They also cover AI bubble optics, prediction-market mania, muni BTC pilots, IMF data on fiat depreciation since 1971, and fresh institutional signals (M&A, endowment flows).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.🧠 Chapters00:00 – Price check and sentiment reset02:54 – Liquidity over cycles: the real driver05:18 – Capitulation data and new buyer cohorts12:36 – Gold leads; BTC in XAU terms16:52 – Market structure: not a bull yet24:44 – AI risk: concentration and circular ROI31:47 – Portfolio mix: gold hedge, improving rails34:35 – Block rails: pay dollars, settle in bitcoin39:50 – Levered “treasury companies” vs real adoption49:35 – Bitcoin muni pilots; IMF on fiat decay52:56 – Institutional signals: flows and M&A54:52 – Prediction markets and casino-ified risk01:05:09 – Outlook: liquidity setup and path forward💡 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

Writer–investor Mel Mattison joins The Last Trade to break down why sub-$100K BTC could be the launchpad for a +50% move — driven by a liquidity flip, fiscal stimulus, and central banks cornered by debt. Gold, Bitcoin, and the coming debasement trade — explained. Get Onramp’s weekly Research & Analysis → https://onrampbitcoin.com/research--- 🔸 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/contact🎙️ About This EpisodeWriter–investor Mel Mattison joins The Last Trade with a clear call: sub-$100K is the buy zone. We unpack why liquidity—not sentiment—drives the next leg, how fiscal surpluses and the shutdown drained markets, and why a policy flip could fuel a +25–50% BTC move in the months ahead. We also hit gold vs. bitcoin as twin “liquidity sponges,” the 1950s macro rhyme, AI’s looming labor shock, and why institutions are quietly rebalancing toward sound money.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.🧠 Chapters00:00 – Intro: Mel Mattison joins The Last Trade04:46 – Quoz and the rise of financial thrillers07:42 – Bitcoin under $100K: why Mel is bullish10:31 – Liquidity drought → fiscal flip: surplus, shutdown, SRF13:29 – Beyond the halving: ETFs, new buyers, and cycle shifts16:27 – Gold + Bitcoin: twin anchors in a debt-soaked world19:30 – China, BRICS, and the gold-backed reset22:36 – The U.S., debt, and why the fiat era is ending25:33 – Healthcare, entitlements, and market dependence28:35 – Lessons from the 1950s: inflation, inequality, and growth33:00 – The next generation’s financial reality38:22 – Energy, AI, and the future of global power51:48 – AI’s labor shock, Social Security, and fiscal strain57:13 – Social unrest & long-term stability risks01:03:09 – Bitcoin vs. Gold & the institutional era ahead01:13:22 – Mel’s $150K Bitcoin call & closing thoughts💡 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 AssetsFollow Mel Mattison on X → https://x.com/MelMattison1

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 - Government Shutdown and Economic Implications03:03 - Impact of EBT and SNAP on Consumers05:49 - Ledger IPO and Digital Asset Market Dynamics08:33 - Ripple's Valuation and Market Positioning11:52 - FOMO and the Rise of High-Risk Investments14:42 - Innovations in Payment Systems and Merchant Adoption37:24 - Coinbase's New Token Launch Platform44:31 - The Evolution of Custody in Crypto51:01 - Hedge Funds and the Crypto Conflation56:25 - DeFi Exploits and the Complexity of Trust01:01:21 - AI Investments and Public-Private PartnershipsIf 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/LukeGromen/status/1986203411331568041https://www.theblock.co/post/378115/ledger-considering-new-york-ipo-or-fundraise-as-demand-for-hardware-wallets-climbs-fthttps://www.reuters.com/business/more-than-half-hedge-funds-invested-crypto-global-survey-says-2025-11-06https://x.com/Balancer/status/1986104426667401241https://www.cnbc.com/2025/11/05/ripple-gets-40-billion-valuation-after-500-million-funding-round.htmlhttps://techcrunch.com/2025/11/06/why-benchmark-made-a-rare-crypto-bet-on-trading-app-fomo-with-17m-series-a/https://www.theblock.co/post/377876/arx-research-raises-6-1-million-usd-seed-round-launch-burner-terminal-stablecoin-fiat-point-of-sale-devicehttps://x.com/KobeissiLetter/status/1987886039847882961?s=20https://www.nbcnews.com/politics/congress/senators-reach-tentative-deal-end-government-shutdown-rcna242401https://x.com/zerohedge/status/1987876356345024775https://x.com/Square/status/1987886908480033186?s=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/