Onramp Media

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.---

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 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 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 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.---

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 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 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.---

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 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 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 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.---

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 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 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.---

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.---

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.---

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 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/

Galaxy's Alex Thorn joins TLT to decode “slop,” ETF-driven passive flows, and why bitcoin's next era belongs to institutions—not hobbyists.We cover Treasury tweets, M&A, stablecoins, the debasement trade & more. Get Onramp's weekly Research & Analysis → https://onrampbitcoin.com/research---

Matthew Montgomery, Founder of MAEVLO and veteran of the oil & gas industry, joins Scarce Assets to reveal why energy prices and Bitcoin are destined to rise together — and how his firm is pioneering a fund that turns oil royalties into Bitcoin reserves. This episode connects the dots between America's energy plateau, AI-driven power demand, and Bitcoin's fixed supply, offering one of the clearest frameworks yet for understanding the coming era of scarcity.Connect with Onramp // Onramp Institutional // Jackson Mikalic on X // Matthew Montgomery on X // MAEVLO CompanyWHAT WE COVER:- How the U.S. shale boom turned America into a net energy exporter- Why the era of cheap energy is ending — and what happens next- The surprising parallels between oil extraction and Bitcoin mining- How AI data centers are quietly rewriting global energy demand- Why energy scarcity could be the catalyst for Bitcoin's next bull run- How MAEVLO's fund bridges real-world energy assets with Bitcoin reservesKEY INSIGHTS DISCUSSED:- 80% of oil well production occurs in the first 24 months- LNG exports projected to triple by 2030- Data center demand expected to add +10 BCF/day of natural gas consumption- U.S. has already drilled the best shale wells — the easy energy is gone- Every MAEVLO investor fund now allocates a portion of cash flow to Bitcoin reservesMATTHEW'S THESIS:“We're entering an era where both energy and Bitcoin are getting more scarce. Oil wells deplete, block rewards halve — the same economics drive both. The only rational strategy is to own the hardest assets in the world.”WHO IS MATTHEW MONTGOMERY?- Founder & Managing Director, MAEVLO Company- 20+ year career across shale exploration, mineral rights, and private equity energy funds- Early pioneer integrating Bitcoin into traditional energy investments- Advocates for sound money, hard assets, and family wealth preservationCHAPTERS:00:00 — Intro & Matthew's Background03:00 — The Shale Revolution Explained10:30 — Lessons from Building in Energy17:00 — Parallels Between Shale and Bitcoin20:00 — Inside the Mineral & Royalty Market27:30 — Why Investors Seek Yield and Inflation Hedges33:30 — Oil, Gas, and the Inflation Trade39:00 — Discovering Bitcoin & Sound Money46:00 — “Scarcity Compounded”: Energy Meets Bitcoin57:00 — The Coming Energy Supply Crunch1:03:00 — How MAEVLO Integrates Bitcoin1:08:00 — Preserving Value & Getting Off Zero1:16:00 – Outro & DisclaimerScarce 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.#Bitcoin #Energy #Scarcity #Inflation #AI #OilAndGas #Macro #Onramp #HardAssets #ProofOfWork

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 - MasterCard's Acquisition of ZeroHash02:57 - The Future of Bitcoin and Stablecoins05:47 - Coinbase's Strategic Moves and Partnerships12:05 - The Role of Traditional Finance in Crypto17:46 - Trends in Stablecoins and Tokenization23:42 - The Hype Cycle in Crypto and Its Implications28:42 - Navigating the Crypto Spectrum32:15 - The Evolution of Trust in Financial Products34:32 - The Role of Institutional Trust in Crypto38:01 - Understanding Credit Ratings in the Crypto Space43:21 - AI Layoffs and the Future of Business51:14 - The Impact of AI on Consulting and Business ModelsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.electronicpaymentsinternational.com/news/coinbase-2bn-acquisition-bvnk/https://x.com/stockmktnewz/status/1984016283306786943?s=12https://www.linkedin.com/posts/gs-fintech_today-im-excited-to-announce-hercle-has-activity-7389290368699297792--tYshttps://www.citigroup.com/global/news/press-release/2025/citi-coinbase-join-forces-boost-digital-asset-payment-capabilities-global-clientshttps://www.coinbase.com/blog/Coinbase-Asset-Management-and-Apollo-Partner-to-Develop-Stablecoin-Credit-Strategieshttps://fortune.com/crypto/2025/10/29/mastercard-zerohash-acquisition-bvnk-stablecoins-coinbase/https://x.com/KrishanGopaul/status/1983851088588513482https://x.com/FirstSquawk/status/1982850503320187044https://x.com/thepowerfulHRV/status/1982859979989324139https://x.com/saylor/status/1982857061257097696https://x.com/ChainLinkGod/status/1983755475079278877https://x.com/therosieum/status/1984987750647333350Keep 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/

Zuby (@ZubyMusic) joins The Last Trade to reveal why bitcoin represents the greatest asymmetric opportunity for millennials and Gen Z - and why the journey from $100K to $1M will be MUCH easier than getting your first $100K.

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 – Cold open: Friday/Sunday pump banter; “the banks are here” kickoff02:11 – JPMorgan to accept BTC/ETH as collateral by year-end11:41 – Fortress/Prime Trust fallout: single-custodian risk and insolvency lessons16:19 – Notable deals of the week25:31 – FalconX to buy 21Shares: ETFs as on-ramp; options liquidity migration26:41 – Crypto M&A surges; Q3 deal value and what 2026 might look like32:08 – Coinbase buys Echo (and UpOnly)38:56 – Tether roundup: AI ambitions, USAT, and the Rumble token (RUM)46:54 – Convergence of AI and digital assets53:53 – ETH dev flight to Tempo; centralization tradeoffs and incentive-driven pivots58:15 – The state of the greater digital assets industry1:08:28 – Macro week previewIf 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/376038/jpmorgan-to-let-institutional-clients-pledge-btc-eth-loan-collateralhttps://x.com/pmarca/status/1982524567072669929https://www.theblock.co/post/375102/ledger-nano-device-wallet-apphttps://www.theblock.co/post/375791/coinbase-unveils-tool-ai-agents-claude-gemini-access-crypto-walletshttps://www.theblock.co/post/375102/ledger-nano-device-wallet-apphttps://www.theblock.co/post/376037/tether-ai-open-dataset-local-apphttps://www.coindesk.com/business/2025/10/24/tether-eyes-fresh-investments-to-push-usat-stablecoin-to-100m-americans-at-december-launchhttps://www.theblock.co/post/376092/zelle-weighs-stablecoin-integration-expand-trillion-dollar-payments-network-abroadhttps://www.bloomberg.com/news/articles/2025-10-23/crypto-m-a-surges-30-fold-as-niche-firms-shift-to-mainstreamhttps://www.theblock.co/post/375652/prime-broker-falconx-to-buy-21shares-amid-crypto-ma-spree-reporthttps://www.theblock.co/post/375689/salesforce-backed-paytech-firm-modern-treasury-acquires-beam-stablecoin-startup-40-million-all-stock-fortunehttps://www.theblock.co/post/375778/kalshi-fielding-investment-offers-12-billion-valuation-after-major-funding-round-bloomberghttps://blog.kraken.com/news/q3-2025-financial-highlightshttps://investor.galaxy.com/news/news-details/2025/Galaxy-Announces-Second-Quarter-2025-Financial-Results/default.aspxhttps://finance.yahoo.com/news/nevada-shuts-down-fortress-trust-114729119.htmlhttps://a16zcrypto.com/posts/article/state-of-crypto-report-2025/https://x.com/TheOneandOmsy/status/1982219947792126246https://finance.yahoo.com/news/coinbase-signs-375-million-deal-113014849.htmlKeep 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/

Connect with Onramp // Onramp Business // Onramp Institutional // Gustavo Flores on X // Aureo BitcoinThe 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.00:00 - Introduction & the debasement trade05:22 - Liquidity conditions & bitcoin's resilience08:38 - Bitcoin cycles: halving vs liquidity11:43 - U.S. debt explosion & nominal distortion14:36 - Government signals & gold's resurgence17:34 - Shifting incentives & institutional positioning19:44 - Global adoption: U.S., India, & Asia-Pacific23:07 - Latin America's adoption landscape25:54 - Financial institutions & ETF-driven onboarding29:00 - Bitcoin management: custody, risk, & MIC37:18 - Security realities in Latin America46:29 - Gold & bitcoin as sound money01:03:34 - Market structure, stablecoins, & centralization01:11:42 - Closing remarks, outro, & disclaimerPlease 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 – Intro & welcoming Gustavo Flores01:17 – UK opens retail BTC/ETH ETPs04:13 – Japan stablecoins & productization07:49 – LATAM stablecoin wave; Brazil in focus11:27 – Coinbase x CoinDCX (India/APAC)15:47 – Stablecoin plumbing: BlackRock & Stripe20:27 – BTC credit vs high LATAM rates; Bolivia case23:31 – Nubank pursues U.S. bank charter29:11 – 2026 custody (Citi/Schwab) & cycle timing33:25 – Aureo announced (Swapido → Aureo)35:03 – Aureo MIC thesis & team42:21 – Storage-first: MIC + localized service56:40 – Debasement trade & BTC hurdle rate1:04:23 – Onramp Business controls; wrap & disclaimerIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.aureobitcoin.com/enhttps://www.earlyriders.com/news/early-riders-acts-as-exclusive-investor-in-aureos-pre-seed-round-to-build-latam-native-bitcoin-financial-services-infrastructurehttps://bitcoin.docsend.com/view/2dj7n3sjr5uyrsr4https://blockworks.co/news/tempo-series-a-raisehttps://www.lightspark.com/news/lightspark/introducing-lightspark-gridhttps://www.theblock.co/post/374924/blackrock-to-launch-genius-compliant-money-market-fund-tailored-for-stablecoin-issuers-report?utm_source=telegram1&utm_medium=socialhttps://www.cnbc.com/2025/10/13/citi-aims-to-launch-crypto-custody-in-2026-exploring-stablecoin.htmlhttps://www.theblock.co/post/375228/japan-fsa-local-banks-cryptohttps://www.theblock.co/post/375250/21shares-bitwise-blackrock-wisdomtree-uk-retail-bitcoin-ethereum-etps-fcahttps://www.coinbase.com/en-in/blog/Coinbase-makes-investment-in-CoinDCX-expanding-our-commitment-to-India-and-the-Middle-Easts-crypto-futurehttps://www.theblock.co/post/374870/paxos-mistakenly-mints-300-trillionhttps://www.theblock.co/post/375083/japans-big-banks-join-forces-on-stablecoins-to-speed-corporate-payments-nikkeihttps://www.theblock.co/post/374643/stripe-stablecoin-unit-bridge-applies-for-national-bank-trust-charter-co-founder-zach-abrams-saysKeep 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/Keep up with Gustavo:https://x.com/gustavojfehttps://www.linkedin.com/in/gustavo-j-flores-echaiz/

~ BITCOIN FOR BUSINESSES EP. 3~Connect with Onramp // Connect with Acropolis // Connect with Early RidersPresented by Onramp Media in collaboration with Acropolis & Early Riders...Bitcoin for Businesses is a bi-weekly podcast for operators. We turn headlines into a playbook, covering custody architecture, board approvals, accounting, financing, and real-world implementation.00:00 - Introduction to Bitcoin for Businesses Podcast01:24 - Square's Integration of Bitcoin Payments05:34 - The Future of Bitcoin in Business13:11 - Inflation and the Gold-Bitcoin Relationship19:08 - Counterparty Risk in Bitcoin Holdings25:11 - Emerging Multinational Banks and Bitcoin32:07 - Tax Considerations for Bitcoin-accepting BusinessesIf you found this valuable, please subscribe to Onramp Media.

Analyst James Check (Checkmate) joins to unpack the current state of bitcoin and gold markets, the impact of shifting liquidity conditions, the relevance of four-year cycles, the future of bitcoin treasury companies, and why understanding market structure, capital flows, and the debasement trade is key to anticipating bitcoin's next major move.Connect with Onramp // Onramp Business // Onramp Institutional⁠ // ⁠⁠⁠James Check on X⁠The 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.00:00 — Market Overview & Sentiment03:39 — Are 4-Year Cycles Dead?06:26 — Liquidity & Macro Regime09:24 — Gold vs Bitcoin: Signals & Sovereign Bid11:39 — Institutions vs Retail Demand13:44 — Onchain: Retail, OG Supply, Smart Money19:59 — Treasury Companies: MNAV, Risks, Reality32:15 — Who Buys Next? ETFs, WM, Sovereigns37:44 — Retail Reflexivity & Hardware Tell41:42 — Real Inflation & BTC vs Traditional Assets56:33 — BTC Dominance, Altcoins & Valuation01:05:40 — Liquidations, Tokenomics & Value Capture01:13:29 — Barbell: Gold + BTC, Cycles & Leverage01:24:44 — OutroPlease 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 - Introduction and Overview of Recent Events02:53 - Texas Capital Markets and Blockchain Summit Insights05:59 - Understanding the Debasement Trade and Fiscal Policies08:40 - Market Reactions to Recent Economic Announcements12:07 - The Fragility of the Crypto Ecosystem14:53 - Lessons from Recent Market Volatility17:44 - The Role of Bitcoin in a Volatile Market20:55 - The Future of Prediction Markets and Information Discovery30:35 - The Nuances of Prediction Markets32:45 - Square's AI Voice Ordering and Bitcoin Integration37:55 - Traditional Finance Meets Digital Assets42:17 - Sovereign Adoption of Bitcoin49:42 - The Risks in Capital Markets and First BrandsIf 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/374266/crypto-liquidations-near-10-billion-in-historic-drawdown-following-trumps-100-tariffs-on-chinahttps://www.cnbc.com/2025/10/10/morgan-stanley-drops-crypto-fund-restrictions-for-wealth-clients.htmlhttps://blockworks.co/news/bank-of-russia-limited-cryptohttps://www.theblock.co/post/374286/rwa-giant-securitize-eyeing-public-listing-via-cantor-fitzgerald-spac-at-unicorn-valuation-bloomberghttps://techcrunch.com/2025/10/10/kalshi-hits-5b-valuation-days-after-rival-polymarket-gets-2b-nyse-backing-at-8b/https://techcrunch.com/2025/10/08/square-launches-ai-voice-ordering-and-an-integrated-bitcoin-solution-for-merchants/https://www.theblock.co/post/373957/paypay-acquires-40-stake-in-binance-japan?utm_source=rss&utm_medium=rsshttps://www.prnewswire.com/news-releases/galaxy-announces-460-million-strategic-investment-from-a-leading-asset-management-firm-302581126.htmlhttps://x.com/unusual_whales/status/1977710157766307970https://x.com/matthew_sigel/status/1976251057421647886https://x.com/gladstein/status/1976684360754684366https://x.com/nextfckingthing/status/1977072040227045729https://x.com/kaledora/status/1977138503382413777https://x.com/web4O/status/1977109201311908304https://x.com/_Checkmatey_/status/1977112327704268833https://finance.yahoo.com/news/wall-street-pivots-morgan-stanley-114628117.htmlhttps://blockworks.co/news/morgan-stanley-crypto-accesshttps://x.com/HighyieldHarry/status/1976107853695107382Keep 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/

From the Onramp Media Archives..Lyn Alden traces the arc of monetary technology—from shells and tobacco to gold and Bitcoin—and how each leap reshaped who controls money. She explains why Bitcoin represents the end of financialization and the first true form of digital settlement, closing a 150-year gap between transactions and finality. Alden unpacks the forces driving fiscal dominance, the coming liquidity cycle, and why sound, scarce assets like Bitcoin are positioned to lead in a macro-heavy decade defined by debt, geopolitics, and technological change. Originally recorded in February 2024.00:00 – Bitcoin as the Reversal of Financialization04:20 – Money as a Ledger & the Question of Control07:10 – Tobacco & Wampum: Lessons in Early American Money11:40 – Two Technological Paths in the Evolution of Money15:30 – Telegraph to Bitcoin: Closing the Settlement Gap21:00 – Technological Determinism & Monetary Centralization25:10 – Fiscal Dominance, Liquidity Cycles, & Bitcoin's Tailwinds29:10 – Hard Assets, Portfolio Strategy, & the Macro-Heavy DecadePlease 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 Onramp // Onramp Terminal // Onramp InstitutionalThe 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.00:00 — The Debasement "Trade" is Here08:13 — Institutional Voices Join the Chorus11:21 — The Dollar's Decline & Asset Inflation17:06 — The Fastest Horse Returns20:06 — Store of Value: Bitcoin's Core Use Case23:21 — ETFs, Custody, & Counterparty Risk26:06 — Hard Money in Modern Portfolios29:10 — The Custody Dilemma42:59 — Risk, Trust, & Peace of Mind44:34 — Sovereign Shifts & Monetary Strategy49:56 — Tether as a Digital Nation-State58:17 — IBIT Dominance & the Future of BTC Ownership01:08:49 — Central Banks & Bitcoin's Next Era01:19:26 — Closing, Outro, & DisclaimerPlease 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 the underlying mechanics of the bitcoin protocol, its ongoing development and funding, and real-world applications of the technology.00:00 - Market Breakthroughs: Gold and Bitcoin Surge02:55 - The Debasement Trade: Shifting Sentiments in Finance05:43 - Institutional Adoption: The Role of TradFi in Digital Assets08:51 - Galaxy One Launch: Bridging TradFi and Crypto11:43 - Yield Products: Evaluating Risks and Opportunities14:54 - The Future of Financial Metrics: Nominal vs. Real Returns17:55 - The Wild West of Finance: Embracing Change20:39 - Bridging the Gap: Crypto Services for TradFi23:53 - Incumbents Entering Crypto: Walmart and Stripe's Moves39:51 - The Future of Stablecoins43:50 - Interoperability and User Experience in Finance45:33 - Walmart's Role in Financial Inclusion48:10 - Risks of Stablecoins and Financial Systems49:44 - The Evolving Landscape of Stablecoin Competition53:23 - Credit Market Risks and Financial Distortions01:03:18 - AI's Impact on Venture Capital and Market DynamicsIf 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/QTRResearch/status/1974204995273654475https://www.bloomberg.com/news/articles/2025-10-01/nyc-pilot-funded-by-coinbase-tries-basic-income-payments-in-cryptohttps://www.theblock.co/post/373468/galaxy-launches-galaxyonehttps://finance.yahoo.com/news/wall-street-pivots-morgan-stanley-114628117.htmlhttps://fortune.com/crypto/2025/10/01/stripe-crypto-stablecoins-open-issuance-bridge-blockchain-tempo/https://www.theblock.co/post/373510/standard-chartered-estimates-1-trillion-could-exit-emerging-market-bank-deposits-for-us-stablecoinshttps://murmurationstwo.substack.com/p/the-stablecoin-duopoly-is-endinghttps://www.cnbc.com/2025/10/06/openai-amd-chip-deal-ai.htmlhttps://www.reuters.com/business/ai-venture-funding-continued-surge-third-quarter-data-shows-2025-10-06/https://www.bestbrokers.com/forex-brokers/the-state-of-ai-venture-capital-in-2025-ai-boom-slows-with-fewer-startups-but-bigger-bets/https://x.com/exec_sum/status/1974120982614061197https://bitcoinmagazine.com/markets/wall-street-takes-the-lead-in-bitcoin-options-as-blackrocks-ishares-overtakes-coinbases-deribithttps://ca.finance.yahoo.com/news/blackrocks-ibit-enters-top-20-102855648.htmlhttps://www.theblock.co/post/372763/binance-offers-turn-key-crypto-as-a-service-solution-for-trad-institutions-looking-to-offer-trading-custody-compliance-serviceshttps://www.cnbc.com/2025/10/06/who-is-sanae-takaichi-the-first-woman-set-to-helm-japanese-government.htmlhttps://x.com/LukeGromen/status/1974184554782220583https://x.com/TimmerFidelity/status/1974112204271296790https://www.cnbc.com/2025/10/03/walmart-onepay-is-rolling-out-crypto-to-mobile-banking-app.htmlhttps://x.com/calleymeans/status/1608618928561074177?lang=enKeep 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/

Connect with Onramp // Onramp Terminal // Tyler Neville on X // Forward GuidanceThe 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.00:00 — Introduction to Tyler Neville03:56 — Wartime Finance: Acronym Rescue Playbook12:17 — 60/40's Sunset: A Generational Shift21:29 — Saving vs. Investing in a Debasing World31:45 — Future of Money: Bitcoin vs. Fiat Rails35:42 — Bitcoin as SoV; Treasury Cos—Bridge or Blowup?42:35 — ETFs & Access: Gatekeepers, Flows, Plumbing01:02:20 — Gold & Bitcoin Gain Share in Reserves01:07:54 — Reserve Flip: Gold vs. U.S. Treasuries01:13:56 — Sound Assets & Resilience01:23:44 — Wrap-Up, Disclaimer, & OutroPlease subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.