Onramp Media

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.

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 Sentiment and Predictions02:32 - Tether's Valuation and Market Impact11:00 - AI and Stablecoin Innovations25:11 - Capital Discipline in AI Investments27:32 - The Impact of AI on Capital and Energy30:49 - Universal Basic Income and AI Tokens33:01 - AI's Influence on Stock Market Dynamics34:35 - The Future of Energy and Economic Growth38:40 - Bitcoin as a Hedge Against Capital Destruction41:41 - TradFi's Shift Towards Digital Assets45:45 - Mainstream Adoption of Digital Assets51:37 - The Future of Bitcoin Companies 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://www.cnbc.com/2025/09/23/tether-reportedly-seeks-lofty-500-billion-valuation-in-capital-raise-.htmlhttps://www.forbes.com/sites/digital-assets/2025/09/29/google-ai-stablecoin-payments-a-first-protocol-for-autonomous-agents/https://decrypt.co/340910/morgan-stanley-bitcoin-ethereum-solana-trading-etradehttps://www.theblock.co/post/372531/vanguard-crypto-etf-accesshttps://x.com/EricBalchunas/status/1972615445950701672https://x.com/ReneSellmann/status/1972243094063231458https://x.com/business/status/1971354036524716082https://x.com/JimPethokoukis/status/1970846329791234193https://x.com/GSR_io/status/1971640456871399899https://www.theblock.co/post/372706/swift-blockchain-ledger-consensyshttps://www.theblock.co/post/372627/kraken-mulls-potential-investor-at-20-billion-valuation-ahead-of-planned-ipo-bloomberghttps://www.theblock.co/post/372230/upbit-merge-under-naverhttps://cointelegraph.com/news/circle-examines-reversible-stablecoin-transactionshttps://www.storyboard18.com/brand-marketing/accenture-layoffs-cross-11000-ceo-julie-sweet-warns-of-further-exits-81670.htmhttps://www.youtube.com/watch?v=Pdne9xaRLUcKeep 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/

~ BITCOIN FOR BUSINESSES EP. 2~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 Businesses01:08 - Insights from Recent Bitcoin Events06:09 - Understanding Custody Solutions09:00 - Exploring Bitcoin Yield Strategies18:19 - The State of Credit Risk in Business23:07 - The Role of Bitcoin in Business Revenue27:07 - AI and the Future of Value Transfer32:08 - The Impact of Y Combinator on StartupsIf you found this valuable, please subscribe to Onramp Media.

Connect with Onramp // Onramp Terminal // Blake Killian, Onramp CMO // New research from BPIThe 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 & Blake Killian Joins Onramp as CMO03:20 — Blake's Background and the Marketing Gap in Bitcoin06:05 — Clarity, Education, and Overcoming Industry Noise12:30 — Nation-State Adoption and Political Implications25:10 — Tether's $500B Play and Branding Power36:30 — Treasury Companies, ETFs, and the Custody Conundrum42:30 — Multi-Institution Custody and Cutting Through the Noise46:24 — Gold's Resurgence and Bitcoin as Hard Money56:50 — China, Global Monetary Shifts, and Sound Money Allies01:16:20 — Closing Thoughts, Outro, and 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 Onramp // Jackson Mikalic on X // Avik Roy on X // FREOPPScarce 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.00:00 - Introduction & Avik Roy's Background03:20 - America's Fiscal Reckoning12:20 - Why the Crisis Takes Longer Than Expected19:00 - The 10–20 Year Timeline Ahead21:00 - Bitcoin Strategic Reserve & Government Signals29:00 - Rails, Custody & 6102 Lessons39:50 - The Future of Multi-Institution Custody48:30 - Treasury Companies vs ETFs (Strive & Beyond)54:20 - Personal Bitcoin Investment Perspectives1:00:30 - Portfolio Construction & Real Hurdle Rates1:06:50 - Wall Street Skepticism vs Macro Adoption1:13:10 - Closing Thoughts, 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 - Nashville Conference Recap02:23 - Multi-Institution Custody Insights08:24 - Investment Announcements and Stables Initiative12:11 - Bitcoin Treasury Company Acquisitions29:15 - Global Banking Trends and Digital Identity31:45 - Geopolitical Tensions and Currency Control34:46 - The Rise of Stablecoins and Global Pushback39:22 - The Shift Towards Hard Assets43:53 - The Role of Gold and Bitcoin in Wealth Preservation46:16 - AI's Impact on Business and Investment Strategies50:43 - The Future of Bitcoin and Financial Institutions55:30 - BitGo IPO and the Future of Digital Asset CustodyIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://bitcoinmagazine.com/business/early-riders-texas-accelerator-bitcoinhttps://www.sec.gov/Archives/edgar/data/1740604/000162828025042203/bitgoholdingsincforms-1.htmhttps://finance.yahoo.com/news/bank-england-plan-cap-stablecoin-064322101.htmlhttps://x.com/matthew_sigel/status/1970096786455908723https://www.globenewswire.com/news-release/2025/09/22/3153902/0/en/Strive-Inc-Nasdaq-ASST-and-Semler-Scientific-Inc-Nasdaq-SMLR-Announce-Bitcoin-Treasury-Merger-in-All-Stock-Transaction.htmlhttps://longbridge.com/en/news/257647299https://finance.yahoo.com/news/ray-dalio-says-invest-gold-132955153.htmlhttps://x.com/StealthQE4/status/1968427249998123351https://www.reuters.com/markets/wealth/morgan-stanley-cio-favors-602020-portfolio-strategy-with-gold-inflation-hedge-2025-09-16/?taid=68cab20669ce140001afff90https://vietnamnews.vn/economy/1721534/more-than-86-million-bank-accounts-to-be-terminated-from-september-1.htmlhttps://x.com/MacroScope17/status/1969767479309111536https://www.theblock.co/post/371567/b-hodl-uk-bitcoin-treasury-strategyhttps://www.theblock.co/post/371021/quarter-of-public-bitcoin-treasury-companies-trade-below-btc-holdingshttps://x.com/JulianKlymochko/status/1967985624922910765https://quasa.io/media/elon-musk-at-all-in-summit-key-takeaways-from-a-44-minute-vision-of-the-futureKeep 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 // Jeff BoothThe 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 Evolution of Economic Systems23:18 - Transitioning to a Free Market Paradigm37:26 - Nation-State Adoption and Sovereign Game Theory44:54 - The Future of Bitcoin and Energy Production48:40 - Gold's Role in the Evolving Financial Landscape52:46 - The Game Theory of Currency and Power58:45 - The Impact of AI on Business and Society01:04:30 - The Necessity of Bitcoin for Businesses01:09:26 - Venture Capital in the Bitcoin Era01:13:38 - Looking Ahead: The Next Six Years of Technology01:23:57 - Outro and DisclaimerPlease subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

Learn more about The Stables // Read the Manifesto // Learn How to Get Involved // Connect with Early Riders // Connect with Onramp00:00 - Introduction to The Last Trade Podcast03:45 - Launching EarlyRiders and Stables07:14 - Building a Base Camp for Entrepreneurs10:14 - Insights from Silicon Valley and Community Building13:15 - Navigating the Bitcoin Landscape16:15 - The Importance of Foundational Business Principles19:07 - Identifying Viable Business Opportunities22:08 - Commercializing Bitcoin Ideas25:07 - The Role of Constraints in Business Success30:36 - The Future of Private Equity and Bitcoin32:49 - Commercial Viability of Bitcoin Innovations35:49 - Navigating the E-Cash Landscape39:55 - The Role of Bitcoin in Traditional Finance44:00 - Exploring Bitcoin as a Store of Value46:52 - The Intersection of Bitcoin and AI51:14 - Building the Future of Bitcoin InvestmentsIf you found this valuable, please subscribe to Early Riders Insights for 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 Movements and Upcoming Events02:11 - Banking Crisis in Thailand09:59 - Youth Revolt in Nepal18:23 - Bitcoin's Role in Financial Portfolios23:09 - Gemini's Public Offering and Market Trends28:06 - Exploring Solana's Blockchain Advantages33:07 - The Future of Bitcoin Dividends35:25 - Hyper Liquid and the Evolution of Stablecoins37:42 - Vercel and the Future of Micro Payments43:51 - The Rise of Bitcoin in Everyday Transactions49:28 - Navigating the Fragile EconomyIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.cnbc.com/2025/09/09/nasdaq-to-invest-50-million-in-winklevoss-founded-crypto-exchange-gemini.htmlhttps://www.cnbc.com/2025/09/12/gemini-the-winklevoss-crypto-exchange-pops-in-nasdaq-debut.htmlhttps://hbr.org/2025/09/does-bitcoin-belong-on-your-balance-sheethttps://vercel.com/blog/introducing-x402-mcp-open-protocol-payments-for-mcp-toolshttps://www.thaiexaminer.com/thai-news-foreigners/2025/09/14/banking-crisis-as-security-overreach-limits-large-numbers-of-personal-and-small-business-bank-accounts/https://www.indiatoday.in/technology/news/story/bitchat-surges-in-nepal-as-gen-z-protesters-pick-pm-on-discord-whatis-bitchat-and-how-it-is-used-2787021-2025-09-14https://www.theblock.co/post/370570/native-markets-team-wins-hyperliquid-usdh-stablecoin-bid-eyes-test-phase-within-dayshttps://finance.yahoo.com/news/superstate-issue-fresh-galaxy-digital-110007162.htmlhttps://www.tradingview.com/news/cointelegraph:b7f86629f094b:0-investment-giant-capital-group-s-1b-bet-on-bitcoin-treasuries-balloons-to-6b/https://www.wsj.com/opinion/americas-buy-now-pay-later-economy-3dae0902Keep 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 // 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 – Welcome to Bitcoin for Businesses02:12 – MIC: the corporate custody unlock06:42 – Ledn pivots to bitcoin-only lending10:59 – Bitcoin-only vs multi-asset UX12:47 – Public treasuries + fair-value accounting catalyst20:39 – The “yield” mirage: save, don't reach25:16 – Macro: inflation squeeze, bankruptcies, rate cuts & MMFs32:05 – Offense & defense: pricing power, network effects39:49 – BTC-backed credit lines for working capital43:52 – Stablecoins as on-ramps; finality vs chargebacks51:58 – Real-world payments: Namecheap $2M via BTCPay57:25 – Closing takeaways & CTAIf you found this valuable, please subscribe to Onramp Media.

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 – Intro & Why Macro Matters Now04:40 – Bessent's Op-Ed: Fed “Gain-of-Function” Critique07:36 – Post-2008 Playbook: Distorted Signals & Debt Monetization10:38 – Stablecoins as Dollar Statecraft13:30 – Global Pressures & the Dollar's Next Act16:30 – Gold Breakout, BTC Setup: Sound-Money Signals19:26 – Fed Independence Under Fire22:18 – Hard Assets as Liquidity Batteries (Gold & BTC)25:19 – Navigating the Reset: A Playbook for Allocators37:33 – Corporate BTC, U.S. Advantage & Balance Sheets41:22 – TradFi Meets Crypto & Policy Greenlights46:06 – Wallet Warnings & Supply-Chain Exploits51:19 – Custody Stress Is Real: Fault Tolerance & MIC56:51 – Onramp Institutional: Bespoke Access for Allocators01:05:40 – 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 - Introduction and Market Overview02:57 - Stripe's Stablecoin Chain and Industry Reactions05:57 - David Marcus' Perspective on Centralized Control09:00 - Decentralization vs. Centralization in Crypto12:03 - The Future of Payments and Corporate Influence14:57 - World Liberty Financial and the Illusion of Decentralization17:32 - Hyperliquid: A New Player in the Market32:47 - The Rise of Prediction Markets and Decentralization37:06 - Sovereign Accumulation of Bitcoin43:48 - India's Unexpected Crypto Adoption47:00 - Tether's Investment in Gold and Bitcoin55:51 - The Future of Money: Gold vs. Bitcoin01:01:04 - AI and the Future of LaborIf 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/zoomerfied/status/1965022977986122116https://x.com/paoloardoino/status/1963970499530399774https://x.com/GwartyGwart/status/1963335764508643696https://www.theblock.co/post/369420/india-leads-global-crypto-adoption-chainalysis?utm_source=telegram1&utm_medium=socialhttps://finance.yahoo.com/news/inside-look-uae-700-million-193253131.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAJmztmDB6EOB8AvPo5_wrG1BFxxX3rm6-VJqiTd-PWIKlUhRCtUZJTd-YnxvQlQCaCpNqkY2jJYrLZhldgKLu9K2WImqlqrkqZL2z43487rBeJXoZJ_wgVDrVRa-CUFz_khNFnjofFGupKVvMEoIMn_8tMgll6FrpraD8DzUsQphhttps://x.com/notgrubles/status/1963680872512790585https://x.com/ccatalini/status/1964027763616358450https://x.com/davidmarcus/status/1964055754648014852https://x.com/brian_armstrong/status/1963375254526709879Keep 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 // Jesse Kobernick 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 - Intro to Jesse Kobernick05:10 - Bitcoin Treasury Companies: Promises vs Reality23:55 - Retail Flows and Reflexivity32:35 - Outlook and Risks for Bitcoin Equity Proxies38:38 - Gold vs Bitcoin: A Century in One Chart43:17 - Long Bonds, Fiscal Dominance, and the Risk-Free Myth49:00 - Global Reserves Shift: Central Banks Buy Gold51:57 - Self-Custody at Scale: Real Risks01:22:11 - Multi-Institution Custody Explained01:24:46 - ETFs and Single-Custodian Risk01:28:44 - Market Structure and Cycle Paths01:34:19 - Supercycle on the Table?01:37:53 - Guardian Controls for Real-World Threats01:49:40 - Outro and 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 Onramp // Jackson Mikalic on X // Chris Kuiper on X // Fidelity Digital AssetsScarce 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.00:00 - Intro to Chris Kuiper & Onramp Institutional05:27 - ETF era takeaways: record flows & advisor demand11:17 - Ancient bitcoin supply selling into strength14:12 - RIAs wake up: education & compliance hurdles17:19 - Positioning bitcoin: non-sovereign monetary asset23:27 - Bonds are impaired: rethinking the 60/4029:28 - Institutional inertia: committees & career risk37:25 - Structures over spot: custody & risk shifting48:37 - Macro drivers: liquidity, stagflation, & expectations55:57 - Volatility that pays: upside skew, gold baton01:02:05 - Bitcoin's bucket: risk-off vs risk-on; crypto baskets01:07:14 - 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 - Introduction and Market Overview01:52 - Blockchain and Government Data Confusion05:52 - The Rise of Prediction Markets10:01 - Trump Media and Digital Assets13:23 - Fed Policy and the Dollar's Reserve Status19:36 - The Shift Towards Hard Assets25:17 - The Future of Investment Strategies32:14 - Career Risk and Market Dynamics34:45 - The Mortgage Crisis and Real Estate Liquidity36:15 - The Rise of ETFs and Financialization39:41 - The Challenge of Outperforming Benchmarks42:40 - The Importance of Small Allocations in Crypto46:01 - The Role of Incentives in Financial Products48:43 - CFTC's New Advisory on Offshore Exchanges54:38 - Institutional Investors and the Crypto DilemmaIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://archive.ph/XFfSehttps://www.theblock.co/post/368295/trump-media-crypto-com-cro-token-treasury-fundinghttps://www.wsj.com/finance/currencies/trump-family-amasses-6-billion-fortune-after-crypto-launchEktBp6GuTDvqhf3MZXIVFYfFFqAJd0Ov4pUL42sn7RDX-1hGRmECPS8DlqSLw%3D%3Dhttps://x.com/KobeissiLetter/status/1962235795622035767https://x.com/elerianm/status/1962275798619914297https://x.com/KobeissiLetter/status/1962532572015001630https://www.nbcnews.com/politics/white-house/trump-removing-federal-reserve-governor-lisa-cook-rcna227138https://www.bloomberg.com/news/articles/2025-08-25/us-etfs-eclipse-total-number-of-stocks-in-paradox-of-choice-for-investors?utm_source=substack&utm_medium=emailhttps://x.com/LukeGromen/status/1958522779331961319https://cryptobriefing.com/offshore-crypto-trading-cftc-guidance/https://x.com/LukeGromen/status/1959631878547259400https://stanfordreview.org/uchicago-lost-money-on-crypto-then-froze-research-when-federal-funding-was-cut/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/

Connect with Onramp // Onramp Terminal // Luke Gromen on X // Luke's Research (FFTT)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.00:00 – Introduction & macro setup03:41 – Gold & bitcoin lead the cycle07:07 – Bretton Woods III & neutral reserves11:56 – Gold's role in global economics17:13 – China, Russia & the gold paradox21:53 – Bitcoin in the macro landscape28:08 – Luke's bitcoin & gold journey36:34 – Institutional blind spots & adoption44:13 – ETFs, stablecoins & purchasing power47:28 – Trump era policy & course corrections55:23 – Nationalization & U.S. industry59:48 – AI, debt & the future of labor01:04:18 – Gold & bitcoin as the future of money01:18:23 – 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 - Government Intervention in Private Sector12:47 - Private Equity Liquidity Crisis20:52 - Bitcoin Lightning and Traditional Finance29:33 - The Rise of Altcoins and Market Dynamics34:26 - The Risks of the Current Crypto Market38:10 - Shifting Focus: Inflation and Labor Markets42:10 - Global Adoption of Bitcoin as a Reserve Asset44:07 - Innovations in Stablecoins and CBDCs48:11 - The Future of Bitcoin Custody01:00:01 - Custody Risks and Corporate Bitcoin TreasuriesIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.reuters.com/business/media-telecom/us-examines-equity-stake-chip-makers-chips-act-cash-grants-sources-say-2025-08-20https://truthsocial.com/@realDonaldTrump/posts/115074444617901812https://docs.congress.hrep.online/legisdocs/basic_20/HB00421.pdfhttps://bitcoin.docsend.com/view/5d9i69p3b78w7wqnhttps://blockchaintechnology-news.com/news/sofi-becomes-first-us-bank-to-use-bitcoin-lightning-for-remittanceshttps://x.com/SpencerHakimian/status/1958906585948069890https://x.com/KobeissiLetter/status/1959279096292053363https://x.com/MacroScope17/status/1959628044580073818https://x.com/AyyouEm/status/1958879078410592741https://x.com/BoringBiz_/status/1959688259015180728https://www.linkedin.com/feed/update/urn:li:activity:7363548191142658049/https://www.coindesk.com/markets/2025/08/21/corporate-bitcoin-treasuries-could-raise-credit-risks-morningstar-dbrs-sayshttps://x.com/strack_ben/status/1958525507655335937https://www.theblock.co/post/367914/bitcoin-og-sell-bitcoin-buy-etherKeep up with Michael: X and LinkedInKeep up with Brian: X and LinkedInKeep up with Liam: X and LinkedIn

Connect with Onramp // Onramp Terminal // Joe Bryan on X // What's The ProblemThe 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 - Framing the Problem of Broken Money13:13 - From TradFi to Bitcoin: Joe Bryan's Path23:20 - Inflation Explained: Mechanism & Fallout34:14 - Inflation's Toll on Families & Small Businesses43:25 - Forced Speculation: The Fiat Burden49:16 - Today's Playbook: Bonds, Equities, Bitcoin58:18 - The “Risk-Free” Mirage: Seizure & Real Returns01:04:44 - Money's Arc: Gold → Paper → Code01:11:15 - Bitcoin vs. Altcoins: Fixed Rules vs. Red Buttons01:16:52 - 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 Onramp // Jackson Mikalic on X // First Covenant Trust & AdvisorsOnramp Bitcoin Dynasty TrustsDownload deep dive report from OnrampScarce 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.00:00 – Onramp Bitcoin Dynasty Trusts03:53 – First Covenant & David Greene's Background08:26 – Why Estate Planning Matters for Bitcoin12:41 – Bitcoin as the “Acorn” Asset17:41 – Trust Structures & Directed Trusts25:21 – Multi-Institution Custody (MIC)32:31 – Trusts as Protocols38:56 – Setting Up a South Dakota Trust44:46 – Costs & Accessibility49:36 – Gifting, Sales & Borrowing Against BTC57:26 – Implementation & Closing Thoughts01:02:47 – 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 - Introduction and Market Overview05:27 - Trends of Digital Asset Company IPOs09:57 - Mining Hardware Innovations15:32 - AI and Bitcoin Mining Synergies18:13 - Challenges Facing Crypto Exchanges26:02 - Long-Term Perspectives on Bitcoin Investment32:54 - Timeless Wisdom from Value Investing37:47 - Competitive Forces in Bitcoin vs. Altcoins41:39 - Value and Quality Assets44:25 - Institutional Adoption of Bitcoin48:10 - Custody and Risk Management in Bitcoin Investment50:46 - Monetary Policy and Bitcoin's Role52:46 - Regulatory Challenges Facing Bitcoin56:51 - The Future of AI and Bitcoin MiningIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.sec.gov/Archives/edgar/data/1872195/000110465925069070/tm2421409-15_f1.htmhttps://proto.xyz/blog/posts/proto-rig-and-proto-fleet-a-paradigm-shifthttps://x.com/Tradermayne/status/1956543965064548592https://www.ledgerinsights.com/bis-proposes-grading-wallets-for-permissionless-blockchain-aml/https://blog.bitmex.com/treasury-company-advisory-agreements/https://finance.yahoo.com/news/ai-arms-race-heats-startups-230146272.htmlhttps://x.com/MartyBent/status/1957108340137627648https://x.com/LukeGromen/status/1957093601818694000Keep up with Michael: X and LinkedInKeep up with Brian: X and LinkedInKeep up with Liam: X and LinkedIn

Connect with Onramp // Onramp Terminal // James Seyffart 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 – Introduction to James Seyffart of Bloomberg04:23 – Background & Path to Covering Bitcoin11:19 – Inside Bloomberg's Crypto Coverage15:26 – Spot Bitcoin ETF Launch & Record-Breaking Success21:01 – Why TradFi Still Struggles with Bitcoin28:09 – BlackRock's Pivotal Role34:44 – Sound Money Renaissance: Bitcoin & Gold42:43 – Macro Context: Debt, Inflation & Asset Valuations51:48 – Custody Concentration & Coinbase Risks56:53 – Digital Asset Treasury Companies (DATs)1:03:41 – 13F Filings & Institutional Ownership Trends1:11:51 – Vanguard's Anti-Bitcoin Stance1:16:38 – Looking Ahead: Flows, Custody, and Market Integration1:20:45 – Closing Thoughts, Outro and DisclaimersPlease 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 - Introduction and Market Overview02:44 - Harvard's Endowment and Bitcoin Investment05:51 - The Sound Money Narrative: Bitcoin and Gold08:50 - Institutional Adoption and Career Risk11:33 - The Future of Asset Allocation14:43 - Tether and Reserve Assets17:57 - Tariffs on Gold and Market Reactions20:28 - Digitization of Gold and Commodities Trading27:32 - The Impact of Leadership Changes in Crypto Policy29:31 - National Security and Economic Growth through Bitcoin32:45 - The Role of Private Sector in Bitcoin Adoption35:32 - Bitcoin Treasury Strategies and Market Dynamics38:28 - Banking Sector's Approach to Bitcoin Products41:35 - Custody Solutions and the Future of Bitcoin Management49:17 - The Evolution of E-Commerce and Market TrendsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.newswire.com/news/onramp-bitcoin-launches-dynasty-trust-services-22620960https://x.com/btcpolicyorg/status/1940070537939575031https://x.com/River/status/1953850840680218900https://finance.yahoo.com/news/trump-media-confirms-2b-bitcoin-061009214.htmlhttps://www.thecrimson.com/article/2025/8/9/hmc-q2-2025-filings/https://x.com/BitcoinPierre/status/1954344430586188181https://www.cnbc.com/2025/08/08/openstore-demise-endgame-for-once-booming-ecommerce-aggregator-market.htmlKeep up with Michael: X and LinkedInKeep up with Brian: X and LinkedInKeep up with Liam: X and LinkedIn

Connect with Onramp // Onramp Terminal // Onramp Bitcoin Dynasty Trust Services // Full deep dive report from OnrampThe 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 – Trump's Executive Order on 401Ks and Bitcoin Access03:30 – Private Equity, Retirement Plans, and Regulatory Implications06:45 – ETF Access Constraints Across Major Banks and Wirehouses09:20 – Impact of Passive Flows on Bitcoin Market Structure13:30 – Debating the Future of Bitcoin Cycles and Sovereign Adoption18:10 – Custodial Concentration and Systemic Risk Scenarios21:45 – Macro Deterioration: Housing, Wages, and Regulatory Burdens28:30 – Global Institutional Interest and Strategic Reserve Momentum35:25 – Digital Asset Treasury Companies vs. Bitcoin Fundamentals45:00 – Tether, Stablecoin Infrastructure, and Regulatory Trajectory52:00 – Gold Revaluation, Real Yields, and the Cost of Capital55:30 – Launching Onramp's Bitcoin Dynasty Trust Services01:05:45 – Closing Reflections, Outro, and 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 Onramp // Onramp Terminal // First Covenant Trust & Advisors // Onramp Bitcoin Dynasty Trust Services // Full deep dive report from OnrampThe 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 – Intro to Paul Hoilman of First Covenant04:22 – Launching: Onramp Bitcoin Dynasty Trusts07:10 – From TradFi to Trust Planning to Bitcoin12:05 – The Estate Planning Gap in Bitcoin16:10 – Why South Dakota Trust Law Wins21:25 – Protecting Wealth Like a Billionaire27:05 – Plan Before Bitcoin Hits $1M31:35 – Dynasty vs. Asset Protection Trusts36:25 – $29M Saved: Case Study Breakdown42:00 – Solving the Custody Problem46:35 – Keep Control: Lending & Liquidity51:30 – Privacy & Lawsuit Protection55:00 – From Self-Custody to Legacy Planning58:30 – How to Set Up a Dynasty Trust01:05:53 – Outro and 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 Onramp // Jackson Mikalic on X // Jeroen Blokland on X // Blokland FundScarce 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.00:00 – Welcoming Back Jeroen Blokland03:22 – Why Every Asset Is Pumping in 202509:04 – Liquidity, Debt, and the Trap Central Banks Are In13:55 – Fiscal Dominance and the End of Fed Independence21:25 – The 60/40 Portfolio Is Dead—Here's Why29:07 – Inflation, Debasement, and Real Wealth Preservation36:55 – Gold Is Back—And It's Outperforming Bonds45:55 – Why Institutions Still Don't Get Bitcoin or Gold53:40 – Bitcoin's Role in a Sound Portfolio01:04:54 – The $1.5T EU Trade Deal01:11:24 – Outro and DisclaimersPlease 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 - Bitcoin Market Dynamics and Volatility03:01 - Understanding SEC's New Leadership and Its Implications05:44 - The Future of Custody and Regulation in Crypto09:07 - The Conflation of Bitcoin and Other Cryptos11:48 - The Sound Money Thesis: Bitcoin vs. Other Assets14:46 - The Role of ETFs in Bitcoin Trading17:56 - Institutional Adoption and Market Maturity34:16 - Institutional Adoption of Bitcoin40:02 - The Future of Stablecoins48:51 - Mainstream Reporting on Bitcoin50:31 - Tim Draper's Bitcoin Fund01:00:07 - The Changing Landscape of WealthIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://drive.google.com/file/d/1HmS513cXBKR1jLq1KfQSlKmcLg4Zrf9M/viewhttps://www.sec.gov/newsroom/speeches-statements/atkins-digital-finance-revolution-073125https://x.com/EricBalchunas/status/1950913303623905601https://archive.ph/wRLV6https://x.com/NatHalberstadt/status/1951635776900415724https://x.com/gregisenberg/status/1952129553213571390https://murmurationstwo.substack.com/p/the-last-word-on-stablecoins-and?selectionhttps://x.com/nic__carter/status/1952002119717818782Keep up with Michael: X and LinkedIn Keep up with Brian: X and LinkedIn Keep up with Liam: X and LinkedIn

Connect with Onramp // Onramp Terminal // Arch Lending // Dhruv Patel on X // Himanshu Sahay on X // Bitcoin Backed Loans: Expensive, or Misunderstood?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.00:00 - Introduction to Dhruv Patel and Himanshu Sahay01:41 - Breaking Down the White House Digital Assets Report07:29 - Bitcoin's Growing Distinction from the Broader Crypto Space10:28 - How Bitcoin Went from Fringe to Treasury Strategy13:32 - The Rise of Bitcoin-Backed Public Companies16:47 - Strategic Bitcoin Adoption and Economic Incentives20:07 - Custody Risk and the MicroStrategy Blind Spot21:43 - Major Banks Partner with Coinbase: What's at Stake27:05 - Coinbase as a Systemic Risk and Industry Bottleneck32:20 - Kraken's IPO and Institutional Capital in Bitcoin35:15 - Fed Dissent, Interest Rates, and Political Pressure42:03 - Abra Halts Withdrawals: Lending Risk Is Back47:00 - Custody, Collateral, and Counterparty Due Diligence54:08 - Behind the Scenes of Arch's Lending Infrastructure58:29 - Private Credit, Rate Arbitrage, and Institutional Capital01:03:42 - Bankruptcy Remoteness and Custodial Risk Management01:11:02 - Product Innovation: Tax, Retirement, and Income Lending01:17:36 - Final Thoughts, Outro, and 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 - Bitcoin Market Dynamics and Institutional Interest07:56 - Banking Partnerships and Crypto Services13:53 - Stablecoin Developments and Competition24:24 - Innovations in Financial Products and Bitcoin Economy28:27 - The Financialization of Bitcoin30:39 - Market Dynamics and Company Acquisitions32:44 - The Rise of Bitcoin Treasuries35:36 - The Evolution of Investment Strategies38:22 - Texas and the Shift Towards Hard Assets43:09 - The Future of Alternative Investments46:02 - The Changing Landscape of Crypto Funds51:16 - Big Week AheadIf 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/MacroScope17/status/1949111802282864838https://x.com/coinbureau/status/1949350139576897580https://x.com/matthew_sigel/status/1949806670307102983https://www.theblock.co/post/351325/crypto-liquid-funds-down-bad-shifting-to-quality-tokenshttps://altgoesmainstream.substack.com/p/agm-alts-weekly-72725-alts-are-actually?utm_source=substack&publication_id=236897&post_id=169344488&utm_medium=email&utm_content=share&utm_campaign=email-share&triggerShare=true&isFreemail=true&r=fn53&triedRedirect=truehttps://www.dallasnews.com/business/2025/07/21/money-moves-why-texas-is-all-in-on-precious-metals-and-surging-bitcoin/https://x.com/real_vijay/status/1949713070789464212https://www.theblock.co/post/364402/paypal-unveils-payment-option-enabling-small-businesses-to-accept-over-100-cryptocurrencies-using-pyusd?utm_source=telegram1&utm_medium=socialhttps://x.com/DylanLeClair_/status/1948424150671855740https://www.aba.com/-/media/documents/letters-to-congress-and-regulators/jointltrtrustcharter20250717.pdf?rev=ce8489ef41574e91822393ad04c3cb62https://ca.finance.yahoo.com/news/jpmorgan-plans-launch-crypto-backed-045505486.html?utm_medium=email&_hsenc=p2ANqtz-8aez6hjaP09EKP4NFfC7TwWbJQpoErM-WV5hd7UQd4Xybr0twEH7uTxtFv0BjdDDFz14SuzZivWpDqbep_i4W6UxL3aHDarf2AVWgnTHgoub25MMo&_hsmi=2&utm_content=2&utm_source=hs_emailhttps://pnc.mediaroom.com/2025-07-22-PNC-Bank,-Coinbase-Announce-Strategic-Partnership-to-Advance-Digital-Asset-Solutions-and-Expand-Banking-Services?utm_medium=email&_hsenc=p2ANqtz-8YeeCLaQSpobqWg6Tm9YHFGKk-ocdmEcV-AmeeMptP6eMXryzd4_00tEceLd9LYa1EfRcGISNzFvXEr-Zl1383QQjn1ioRxRlANpooLpt5bTVkloE&_hsmi=2&utm_content=2&utm_source=hs_emailKeep 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 // Eric Balchunas 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 - Introduction to Eric Balchunas of Bloomberg08:58 - The Evolution of Bitcoin and ETF Coverage16:33 - Understanding Bitcoin: Insights and Misconceptions22:26 - The Correlation Between Knowledge and Investment26:52 - The Future of Bitcoin and ETF Dynamics29:23 - Potential Risks and Black Swan Events35:19 - Trust in Custodians and the Evolution of ETFs41:28 - The Meteoric Rise of Bitcoin ETFs47:53 - The Dichotomy of Traditional Finance and Bitcoin55:27 - The Role of Bitcoin in Modern Portfolios01:06:27 - The Future of Bitcoin as a Currency01:09:40 - Security and Custody in Digital Assets01:13:31 - The Role of ETFs in Bitcoin Adoption01:20:36 - Navigating the Complexities of Bitcoin Custody01:24:49 - Outro and 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 Onramp // Jackson Mikalic on X // Josh Phair on LinkedInScarce 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.00:00 - Intro to Josh Phair, CEO of Scottsdale Mint09:18 - Josh's Journey in Precious Metals19:40 - The Current State of Gold and Bitcoin21:52 - Revaluation of Gold and Strategic Advantages31:41 - The Future of Stablecoins and Digital Assets37:05 - The Control of Capital in Financial Systems40:13 - Historical Context of Monetary Systems42:49 - Gold and Bitcoin: The Future of Hard Assets52:01 - Jurisdictional Risks and Asset Security58:45 - The Evolution of Investment Strategies01:03:48 - The Future of State-Level Financial Systems01:11:14 - Outro and 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 bitcoin applications, protocol development, broader capital markets and early-stage venture.00:00 - Introduction and Current Events in Crypto02:56 - Regulatory Developments and Their Impact05:50 - Stablecoins and The Shift in Market Structure08:49 - The Role of Banks in the Crypto Ecosystem11:46 - Disintermediation and the Future of Banking14:54 - Insurance and Security in Crypto Assets18:02 - The Rise of Custodians and Market Dynamics20:42 - Public Market Interest in Crypto Firms23:41 - Future Trends and Predictions in Crypto36:21 - The Rise of Crypto Custody and Public Awareness37:25 - Market Dynamics: Bitcoin's Role and Institutional Interest39:12 - Navigating Risks in Digital Asset Management40:10 - The Future of Financial Services: Bitcoin as a Hurdle Rate43:45 - Conflation of Crypto Assets and Regulatory Impacts45:56 - Investment Strategies: Smart Money vs. Speculation50:37 - Yield Generation: Risks and Opportunities in Bitcoin Investments55:28 - Emerging Trends: Bitcoin Treasury Companies and Market Structure01:00:18 - Innovative Banking Solutions for the Digital Age01:05:17 - The Importance of Multi-Institutional Control in CryptoIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weeklyLinks discussed:https://www.newsweek.com/donald-trump-changing-401-k-what-know-2100628https://www.businesswire.com/news/home/20250715691388/en/MARA-Leads-%2420-Million-Investment-in-Two-Prime-to-Advance-Institutional-Bitcoin-Yield-Strategies-and-Expands-SMA-to-2000-BTChttps://www.youtube.com/watch?v=OWhrlHO_1Vchttps://www.coindesk.com/business/2025/07/15/function-raises-10m-to-bring-yield-to-bitcoin-gets-backing-from-galaxy-digital-antalpha-and-mantlehttps://www.bloomberg.com/news/articles/2025-07-18/crypto-market-cap-tops-4-trillion-as-us-stablecoin-bill-passes?cmpid=071825_marketsdaily&utm_medium=email&utm_source=newsletter&utm_term=250718&utm_campaign=marketsdailyhttps://fortune.com/2025/07/16/jpmorgan-chase-fees-fintechs-plaid-finicity-crypto-wall-street-citigroup-bank-of-america-wells-fargo/https://x.com/MTanguma/status/1946636253249851478Keep up with Michael: X and LinkedIn Keep up with Brian: X and LinkedIn Keep up with Liam: X and LinkedIn 

Connect with Onramp // Onramp Terminal // Vijay Boyapati on X // The Bullish Case for 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 to Vijay Boyapati03:32 - Revisiting the Bullish Case for Bitcoin04:22 - Understanding the Gartner Hype Cycle07:13 - Nation State Adoption of Bitcoin10:33 - Political Capture and Bitcoin's Future14:12 - Institutional Interest and Bitcoin ETFs18:22 - Market Structure Changes and Future Cycles27:59 - Bitcoin Treasury Companies and Market Bubbles36:43 - The Importance of Risk Management40:16 - Concerns Over Asset Accumulation in ETFs43:38 - Understanding Bitcoin's Adoption Curve47:04 - The Macro Environment's Impact on Bitcoin51:04 - Bitcoin as a De Facto Savings Account54:25 - The Future of Stablecoins and Bitcoin58:29 - The Evolving Risk Profile of Bitcoin01:04:18 - Quantum Computing Considerations01:05:52 - Outro and 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 - Bitcoin's All-Time Highs and Market Dynamics14:53 - The Role of ETFs and Retail Interest in Bitcoin21:52 - Venture Capital and Strategic Capital Allocation29:47 - Counterparty Risks and Market Stability31:38 - The Gambling Nature of Crypto Markets33:43 - Market Structure and Bitcoin Dominance36:01 - Retail vs. Institutional Demand in Crypto40:12 - Privacy and Decentralization in the Age of AI44:41 - Wages, Inflation, and Bitcoin Accumulation47:44 - The Evolution of Bitcoin Mining52:35 - Convergence of AI and Bitcoin57:57 - Historical Perspectives on Capital and ControlIf 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/1944718183509664170https://x.com/matthew_pines/status/1944465838448525806https://x.com/anilsaidso/status/1943662915745350084https://www.theblock.co/post/362357/next-crypto-ipos-vcs?utm_source=twitter&utm_medium=socialhttps://x.com/EricBalchunas/status/1943664470032576876https://thedefiant.io/news/markets/pump-fun-raises-500-million-minutes-pump-token-sale-fc226b29https://www.nbcboston.com/news/business/money-report/trump-certainly-can-fire-fed-chair-powell-if-theres-cause-hassett/3765586/https://blockworks.co/news/coreweave-pending-buy-aihttps://www.nbcboston.com/news/business/money-report/trump-certainly-can-fire-fed-chair-powell-if-theres-cause-hassett/3765586/Keep up with Michael: X and LinkedInKeep up with Brian: X and LinkedInKeep up with Liam: X and LinkedIn

From the Onramp Media archives: Michael Saylor on bitcoin as digital capital, the $100 trillion idea reshaping markets, and why bitcoin sets the true hurdle rate for capital allocation. Originally recorded in October 2024.00:00 – Viral Adoption & Exponential Growth02:25 – Bitcoin as Digital Capital04:30 – 24/7 Global Markets & Capital Efficiency11:30 – Bitcoin as the True Hurdle Rate16:15 – Institutional Yield & Counterparty Risk25:25 – Strategic Leverage & Capital Allocation29:55 – The Three Planks of Institutional Adoption34:30 – Custody, Competition & Market Dynamics43:50 – BTC Yield as a Corporate KPI50:55 – Operating Companies vs. Trusts & ETFs53:20 – There Is No Second Best58:05 – Focus, Execution & the Bitcoin EraPlease 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 // Bitcoin Policy Institute // Zack Shapiro on X // Zack Cohen on X // State-Level SBR ToolkitThe 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.00:00:00 – Intro + Why This Episode Matters00:02:42 – BPI's Strategic Reserve Toolkit: Origin Story00:05:05 – Toolkit Design Philosophy: Modular, Open Source, Comprehensive00:07:05 – Why States (Not Just Feds) Should Lead00:09:14 – Execution Challenges: Buying, Custody, and Governance00:16:15 – The Case for Multi-Institution Custody00:19:05 – Custody Standards, QCs, and Onramp's Role00:25:30 – How States Can Actually Buy Bitcoin00:29:15 – Funding Sources: Taxes, Pensions, Bit Bonds00:35:15 – Toolkit as an Educational Resource00:54:15 – Bitcoin Opportunity Zones & Energy Development00:57:45 – Property Rights & Custody Protections01:01:45 – Why Self-Custody Is Non-Negotiable01:05:45 – Toolkit Implementation & State-Level Game Theory01:10:15 – Federal Landscape: Clarity Act, Bitcoin Act, Executive Path01:14:15 – Macro Backdrop: Debt Spiral & Fiscal Dominance01:21:37 – Outro + Where to Find the ToolkitPlease 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 - Elon Musk's America Party and Bitcoin06:49 - The Future of AI and Capital Flow11:35 - Disruption in Technology: Uber vs. Airbnb16:18 - Stable Coins and International Remittance22:29 - JP Morgan's Outlook on Bitcoin and Gold29:51 - The Future of Hard Assets: Bitcoin and Gold34:22 - Revolutionizing Company Building with AI36:11 - AI Adoption in the Workforce: A Slow Transition38:20 - The Cognitive Impact of AI on Human Thinking41:32 - Balancing AI and Human Creativity48:24 - California's Startup Landscape: Trends and Insights50:26 - The Rise of Crypto-Focused BankingIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.ben-evans.com/presentationshttps://techcrunch.com/2025/06/26/this-ai-powered-startup-studio-plans-to-launch-100000-companies-a-year-really/https://www.craincurrency.com/family-office-management/family-offices-quietly-using-venture-studios-build-companieshttps://news.crunchbase.com/venture/california-startup-funding-share-rising-unicorns-openai-spacex/?utm_source=Iterable&utm_medium=email&utm_campaign=newsletter-20250703https://finance.yahoo.com/news/tech-billionaires-led-palmer-luckey-124008946.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAIGaZKOVKtrpqCRAE8epUWbgt2Y3NclOOU5no8ADjupJu2O2DFHH6pnOkv9Qz5BvSo_zqE3s3lfLBvX391N4y01VySicBK594A4CsjzSFUMZq3lpuOVHsbGlTAyHzRAVhEe_6Ova_Fw6AwwRfqPC404rPlpKHZLA_Og5PkpxJXc7https://x.com/stable/status/1940048398595547289?s=46&t=PV2x02cG_nl7mRDNaKNUMAhttps://x.com/BitcoinNewsCom/status/1939987595020140708https://www.privatebank.citibank.com/insights/managing-risk-amid-geopolitical-tensionhttps://privatebank.jpmorgan.com/content/dam/jpm-pb-aem/global/en/documents/insights/outlook/2025-Mid-Year-Outlook-Comfortably-Uncomfortable.pdf?page=27https://www.gallup.com/workplace/691643/work-nearly-doubled-two-years.aspxhttps://seekingalpha.com/news/4464052-elon-musks-xai-raises-5b-each-in-new-debt-and-equity-morgan-stanleyKeep up with Michael: X and LinkedInKeep up with Brian:  X and LinkedInKeep up with Liam:  X and LinkedIn