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Title: Why Most Capital Raisers Will Get Sued in the Next Crash with Rob Beardsley and Craig McGrouther Summary: In this episode of “Fund Friday,” hosts discuss the innovative solutions offered by Tribe Vest, a pioneering fund-of-funds startup, which is poised to transform the landscape for emerging fund managers, investors, and capital raisers. Guests Travis Smith and Seth Bradley delve into their personal journeys and the genesis of Tribe Vest, highlighting the advantages of adopting a fund-of-funds model that enhances compliance and increases access for numerous accredited investors. They detail how Tribe Vest supports fund managers through its comprehensive services, allowing them to raise capital efficiently while ensuring legal and financial compliance.   The conversation unfolds various industry challenges faced by fund managers, such as the difficulties in connecting accredited investors with good deals and maintaining compliance in the ever-evolving regulatory environment. Smith and Bradley underscore the essence of Tribe Vest, focusing on its operational efficiency—providing essential support like K-1 tax distribution, capital-raising infrastructure, and investor onboarding—all streamlined with technology.   In conclusion, they not only spotlight the competitive pricing and quick service turnaround of Tribe Vest but also express their commitment to fostering a landscape that democratizes access to high-quality investing opportunities while empowering fund managers. Their vision seeks to break down barriers traditionally faced in private investment, paving the way for a more inclusive investment future. Links to Listen and Subscribe: https://podcasts.apple.com/us/podcast/fund-friday-e49-the-cost-effective-way-to-launch-a/id1511202840?i=1000673582673 https://open.spotify.com/episode/4tLAtXFe3OrqtCwyc7gfBE Links to Watch and Subscribe: https://www.youtube.com/watch?v=GVgT4GMrPPI&t=70s Bullet Point Highlights: Tribe Vest revolutionizes the fund-of-funds model for emerging fund managers. The connection of accredited investors to high-quality private investment opportunities is crucial yet challenging. Efficient operational support, including compliance and investor onboarding, sets Tribe Vest apart. The need for compliance amid industry scrutiny has shifted sentiment towards fund-of-funds for risk mitigation. Tribe Vest empowers fund managers by providing an institutional-level infrastructure for capital raises. Cost-effective solutions allow fund managers to focus on relationships rather than administrative burdens. Quick setup times (just five days) streamline the capital-raising process for fund managers. Transcript: welcome back to another episode of fund Friday this is going to be a very nutrient dense jam-packed episode with two amazing people we just had the pleasure of connecting with them once more at our Flagship uh summon event in New York City the gentleman behind tribe vest here a cuttingedge fun to fun group VC backed the whole nine this is going to be such an important episode for all you emerging fund managers you Capital raisers Maybe investors who kind of want to know behind the curtain what's going   on and also just from a structural perspective as to how we've been able to scale our business safely and compliantly but with that said let's give a warm introduction to Travis Smith and Seth Bradley how are you both today good craigg good to see you it's been just a few weeks since we were in New York together which was an awesome event glad to be here yeah well there's been a lot of great updates to the product that tribe is offering since our initial conversation we had so I would almost even argue um for the   better Awards you can maybe even scrap that episode for future purposes don't need to look back because we're going to cover that and then some here today so I'm absolutely elated and thrilled to talk about that so let's get right into it and just to start with for some some context because we're gonna just keep it moving forward here how did Seth and Travis and the team have tried best kind of Forge and kind of come together from you know this Alliance from a business perspective yeah tra you want to kick that off man   sure sure and look you can't scrap that first episode because I think it's the first episode yeah like we're in the record books at this time right yeah so yeah no look uh me finding Seth and Seth Finding Me is a big part of our story no doubt really uh in early 2023 we had built out the infrastructure and the technology uh we' even been challenged by our clients to build out the back office where we do all the distributions cap table management uh k1s taxes and um but I hadn't quite figured out the fun to fun portion of this yet   and uh good story you know met Seth Bradley at a a conference in the British Virgin Islands where we were both speaking at the event uh both of our wives were there and uh they hit it off we hit it off and just had a wonderful wonderful week and weekend and um and that was when Seth kind of really opened my eyes to um this opportunity Seth you know how how do you remember it where where you know how how did it go from there yeah well funny enough my my pitch or my speaking engagement was on fund of funds it was   it was teaching the group about fund of funds what is it how can you how can you go from basically a passive investor and and start a business raising capital and and fund of funds is kind of the the next step and at the same time the industry was was pivoting there was uh you know there were Winds of Change so to speak from the the cgp model and people were starting to really take the fun of funds model more seriously and take a deeper look at it and the timing just couldn't be better as Travis was   taking his company and and trying to make it pivot himself into the the syndicator and the fund and the capital raising market and you know originally there was a cgp type of model that was being uh thrown around and actually had a good bit of success Travis right going into uh earlier that year and you know I I we just got into some deeper discussions about where the market is and where it's going and the market was really going to fund to funds and I said' look Travis if you're going to if you're going to take this business to   the next level get ahead of the game like this is where it's going it's going to fun and fund is kind of getting away from the cgp model so if you're going to build a product around that market really should focus in on fun to funds yeah I mean and I'll just go as well just to to piggyback off that timing is so funny there because I think it was roughly around the summer of 2023 when fun to fun was the biggest buzzword in the industry what is a fun of fund how does it work why is this the most compliant way do I need to do it what is   it how does it structure everything included there so we're going to unpack that all there but it sounds like Travis you might have had an additional comment well I was say it really it truly was right place right time for Seth and I to meet you think about leading up to that it was the becc 2023 and there just all these Rumblings with some some bigger names in our industry that were under an investigation for the CP model and that was really how the industry was working with capital Partners at the time and uh   collectively realized that there's got to be a more compliant better way and there I was with a two-thirds of the solution talking to Seth who rep represented the the last third of the solution so really was right place right time and and uh you know we're we're we're so glad to be partnered together and and solving a big problem Big Challenge yeah well and let's get right into that problem so the the problem of the industry so how can someone like loans start Capital safely compliantly bring dollars into our deals from   outside investors fund managers capital allocators and opportunity so what is the industry problem and what are you guys both solving Seth I I'll hand it over to you I think from a big industry problem I mean there's just the age-old you know you have awesome lead sponsors that are working hard finding great deals private deals out there like Lone Star and and then on the other side there's over 20 million accredited investors that want the benefits of private investing they want the the benefits that come with real estate they   want cash flow they want tax advantages uh you know they they want the appreciation all those things that are Why Real Estate so awesome they want to invest with these lead sponsors in these deals but as as we know unless you're kind of in a country club or in the network it's really hard to access those so that's the big problem the big problem is we have great lead sponsors with great deals and then on the other side we have have awesome accredited uh investors looking for those deals meanwhile they can't find each other and   uh they don't know how to access them and so the the industry as a whole you know a big conduit to solving that is this Capital Partner right the fund manager and Seth I'll turn it over to you kind of again maybe start with how the industry was solving it and what the problem was with that right yeah I mean I think you framed it correctly it's it's access we know these these accredited investors are out there there's Millions U maybe tens of millions out there in the United States that um maybe they know it maybe they   don't but they they might want to invest um they need educated they need access to Deals and on the other side you've got uh lead sponsors you've got fund managers you've got Capital aggregators who want to get access to these folks and we work on that in our business every single day about how do we reach these accredited investors um and then we all have our own little networks of people that we can raise capital from and that we know and that they no like and trust us to be able to place their   Capital with us um you know since the jobs act in 2012 which is um what enabled us to start going out and soliciting and advertising um in the public uh for deals and raising capital in that manner and the the problem is that everything's been great since then up until covid right the real estate market has just been going absolutely through the roof so anybody that decided to jump into the the sector during that time had success I mean you could just you know throw paint in a wall and you're G to have success because the   market just really helped us out a lot like you had to make a lot of mistakes operationally um for things to go wrong right I mean you really did you really did um not to not not Lone Star Lone Star is awesome right you're you're absolutely right no you you you hit the hammer on the nail there for sure yeah and it's uh you know until covid hit and we got that little blip and that was just kind of a you know something that you know came and went um but now you've seen in the last year and a half or so   the market has slowed down um you've seen Capital calls you've seen um you know some SEC um interactions with folks and trying to see if Capital was raised correctly things like that um kind of looking into how the market evolved the market evolved beginning with a cgp model um you know initially the C GP model was thought to be compliant and if it executed properly it is compliant if you have all people in a group that are raising capital for their own deal they're all active participants they're   all General Partners they're all executing the business plan and participating in decision-making all good that's an age-old uh way to do business and it's been done for all the time right like you've got Capital you've got people actively participating and all is good but just like anything else you know us entrepreneurs we like to go around the edges and try to pick and choose like oh well can we do this or can we do this let's push the limits and unfortunately the market kind of changed into this this um this thing   where we push the limits too far and we've had 10 15 20 CPS in an active deal where you know really all they're doing is Raising Capital right like we might try to say on paper that this person's doing that and this person's doing investor relations and this person's doing a little bit of underwriting which all may be true true but at the end of the day if the SEC comes in and says let's take a look at your whole business plan plan with this particular asset in this particular offering and see how you   raise capital and who's doing what and they're going to look under the hood and they're going to be able to figure it out they're they're smart people back there they can figure out what you're doing they can figure out that hey this person raised uh $200,000 and got 2% and this person raised $600,000 and got 6% it's pretty easy to put those pieces together um but like I had mentioned before the market you know kind of went our Direction and there were really happy investors nobody was upset nobody   was suing nobody was asking questions and now since the market has changed you've seen the capital calls you've seen the foreclosures you've seen the investors upset um and now that's what Travis was alluding to earlier is there were certain folks in the industry that were um you know getting interviewed by the SEC I don't think anything ever came of it but it was enough for people to be like look we've still got to raise Capital we've still got to do these deals somehow what other way is there to   do it that's more compliant than this cgp model that the industry has turned to and the answer is fun to funds and it's always been fun to funds you know there's people out there that have preached that for years but it's just a little bit you know more nuanced a little bit more complicated a little bit more expensive so people have stayed away from it yeah so exactly and and thank you so much for painting such a Picasso beautiful picture here pertaining to the why before and why now and kind of the context there because I   think so many people are missing that why y component so you beautifully explained that so but then why is the fun of fund the route to do it in because it's pretty similar right and fun of funds to your point have actually been around for really not going to say forever but for a long period of time so just curious to know you know why fun of fun is this the solution from a client's perspective and and things of that nature yeah and we can and Travis jump in here whenever you want but we can kind of go through um with each   stakeholder why why it's compliant why they love funded funds maybe why they don't you know let's talk about the pluses and the minuses um I think we can start with the lead sponsor I mean for the lead sponsor um to me there's there's really no downside and I'd love for somebody to may maybe making a counterargument to that but to me there there's no downside for the lead sponsor themselves right the people that are actually operating buying executing the business plan by them creating a level of Separation through the fund to funds   model and not uh inviting other folks into their deal to raise Capital they're creating they're creating uh risk mitigation and dissipating liability for themselves right and they don't have to worry about bringing people into their business because it's a totally separate offering that the fund manager is going to be putting out there separate from the actual lead sponsors right and and uh another reason why the lead sponsors love it other than it's compliant creates that separation is it's way more uh efficient   way more efficient when you're working with a capital partner and they're the ones that are pulling the fund to fund they might be bringing in five 10 15 20 investors into their fund to fund well uh they can coordinate that from a sales perspective and then also on the ongoing Administration right it's one line on their uh on their cap table right so instead of getting 15 smaller checks you're getting you're getting one big check and it's just way more efficient and way more safer is is Seth said too yeah and your your listeners   are are very educated but just in case there a few out there that are wondering I mean the the fund of fund itself is just an LLC it's just a a group of investors it's a you know somebody managing that which is the fund manager and that LLC or that partnership however you want to structure it legally is actually just a passive investor for the lead sponsor it's just going to be a big aggregated passive investor for the lead sponsor so I just wanted to clarify that yeah and then let's talk about from so   and there's also been some Evolution I hit on that word to start the conversation but before we were partnering or triest was partnering with this a couple handful of lead sponsors but there's been some Evolution so can we talk about how you guys have maybe handpicked and cherry-picked some of the top you know first and- class sponsors and how it worked kind of before and now the new product lines rolling out and how you know why fund managers are loving it and should even love it more moving forward absolutely yeah great great   question and great points here so you know as you mentioned Craig when we were initially rolling this out uh it made sense for us to to cherry pick and go work with uh the lead sponsors with the best track record the best reputation and we're proud to say that you know Lone Star is one of our earliest lead sponsor partners and um and then since then uh really we had almost a requirement where you had to go through one of our our lead sponsor partners and there's good reason for it we'll we'll come back to   that in a second but since if you're lead sponsor and looking to do this on different deals I'm sorry if you're a fund manager and looking to do a fun to fun on different deals working with different lead sponsors you can absolutely work with tribe best so and you think about the benefits of that right what you're what you're able to do is you can control your own brand right you you get to build your own um your your company you're building a business one deal at a time and from your Investor's perspective instead of them   going to one investor portal and then you know going to another deal that has another investor uh portal they can actually all come to one portal uh as you're using tribe vest so um I want to again just point out that fund managers can now uh absolutely work directly with us they don't need a lead sponsor now I will tell you this think about the benefits though you do get when we are partnered with the lead sponsor and lonar is a perfect example of that right lonar has done the work to say look if   you're a capital raiser you get these marketing resources right you get we we'll we'll put together a you know a deck that you can configure um we've thought through all the economic for you so if you're wondering how to communicate the terms and the returns you know lone Stars gone as far as adding it to their their underwriting spreadsheet so you can play with the numbers calculate it and that's a huge deal right and so all these things that a a lead sponsor partner of ours like lonar does just makes it so so much more   seamless when we do engage with the funder manager right we don't have to go back and kind of figure out well what are the economics and and how are you you know doing uh you know commitments from your investors all those types of things so fund manager can absolutely come and work directly with us it's still way more smooth because we already have the offering docks ready we already have the calculator ready we already have marketing materials right all those things are reasons why by working with   one of our lead sponsor Partners just makes the experience that much better for you and your investors yeah and just a little back and for a lot of people who may not be privy to this but if you are a capital allocator specifically that we're talking about in this situation who is looking to work with the loans or capital or a group similar to us your other sponsors there's just some groups that are just not really built or have the infrastructure in place to really streamline the funto fund process I.E and the underwriting   model IE it already been kind of baked in there we've done this before some groups are kind of in Old way of doing things maybe they only do a couple deals a year that's totally fine I'm not saying that's a bad thing but they might have to create a funto fund breakdown economics setup for the double waterfall there where everyone gets paid out the investors get their returns that should be you know similar to what our investors get and then the fund manager needs to figure out his compensation for   his basically part in the opportunity so we have that baked in and we've done this now enough times to know how this is going to look and actually as a matter of fact to go through that process even one step further before we even go to public or live with the opportunity to even start the capital raising those numbers are ironed out those numbers are in place you know what's going on it's not a scramble drill amongst everything else to get your partners going so on and so forth when you do partner and work with us   which is a key benefit to do and solve for one of the most important uh places in the capital raising you know equation which is speed and time so we kind of shrink that time Gap versus other groups when do that or the other people that you work with which is highly crucial there are a lot more groups now that are tailored to the fund of fund but not every group is um so that's the exciting thing and then going back to now being partnered with a fund manager at at the fund manager level as much that's   amazing for a multitude of things number one if you're a capital allocator fund manager we don't see who your investors are because as Travis alluded to it's one check going into our opportunity so you get the shield and Sheltering in that perspective in that equation there so that's number one number two is we're not going to create the other big problem in the business I would say which is Portal fatigue so it's not a big issue it's not the endl be all but you know if you're let's say a alt uh a   big alternative investor guy right guy or gal person what's GNA end up happening let's say if you've got five to 10 sponsors you're probably going to have you know a bunch of different portals to go into but if you work with a couple of capital raisers who only use triest as your back office well that's immensely beneficial because you can just keep your accounts there so I just want to really highlight those two things and if you want to expand on that further please feel free to do so yeah I mean I'll jump in for sure I   mean you know I've got to mention again compliance right like think about you know the fun to fun model where the fund manager is going to create their own business they're going to create their own entity that they're going to manage um that going to administrate and they're going to operate so by doing so yes there are more responsibilities you are running your own business you are taking accountability for you and your investors and your business but uh on the flip side of that is hey the old CP   model you're getting into bed with all these other CPS that you don't even know I mean you may they may be an acquaintance off of social media or you might not even know who they are at all let alone the lead sponsor so if one of those folks does something wrong you guys are all in the same boat like you're not just taking care of yourself but you've got to worry about all the other people that you're in business with and if they do something wrong they're going to put your investment and your past investors um in a bad   situation and let's get to the next idea which is some of the problems that some people have experienced with a fun of fund that I think you guys are really really Cutting Edge on to solve for them so let's just talk about maybe a couple of the problems which I think is you know the expense I think there's a lot of misnomers about how expensive it can be um and also what you kind of solve for it how you bundle and Pat package it together because if you're the typical person that's going to be very expensive   but that's why we love you guys uh the administration burden and then also time so let's T let's just kind of break down those problems there how you see fit accordingly and uh we'll let you take it away again SE I'll let you jump in because you were saying you were just at a conference in uh think that uh maybe rais Masters conference in in San Diego and you the conversations you were having with fund managers once they kind of fully understood what we did and how we did it it really kind of uh popped   for them so anyway I thought since that was fresh i' I'd ask you to to talk about it yeah I think people that have any kind of experience uh raising Capital under when they hear about all the things that we do and for the amount of money that we do it for they are absolutely blown away I think the problem that comes up is that it's a misunderstanding of what we do and what we are so a lot of folks that don't understand will put us in a category of just being an investor portal they'll be like hey triest is like cash flow portal   or like syndication Pro or invest next or one of those and they just kind of lump Us in with them and we're like that's the smallest thing that we do the smallest thing that we do is the investor portal that's that's one of the services that we provide but we provide everything Soup To Nuts I mean from start to finish I mean it includes everything that you could possibly imagine I mean from getting your EI and letter to setting up your LLC to opening your business banking account to doing your legal documents and setting those   up for signatures for your investors and actually onboarding your investors or hurting the cats I was going to say you actually get a account manager to help you on board your investors professionally and uh yeah you mentioned hurting cats that's maybe one of the things that we're the best in the world at is helping hurt cats yeah I think that's something definitely gets so much fun Craig knows about it all too well yeah lot a lot of work lot of uh reaching out to investors lot of questions on hey where how how do we   fill out these form fields on these subscription documents right like where do we sign how do we fill this out what does this mean those things those they they take time they take effort um it's an administrative burden for you and your company and we take that off your hands and then we also Badger the passive investors till they actually send the wire right like a lot of times they get cold feet and you know we prompt them to to send the wire and actually finish their investment all the things that investor relations manager   might do we handle that now there's there's some teamwork involved as well because they're your passive investors but um you know we do the heavy lifting on on that side and then even on the back end we are managing your cap table so we're setting that up for you on our dashboard and actually making distributions to your passive investors now you can log on to your dashboard if you want to and send them out manually when you want how you want and what amounts but if you want us to just take those over pursuant to the terms of your   offering documents we'll handle that as well it's amazing and and the and the taxes yeah I think Craig tax can't forget the taxes yeah the taxes k1s again one K1 comes in from Lone Star uh we we of course at our core the banking and the cap table so we have the ownership percentage makes it easy for us to and our CPAs to create that K1 for each one of the members we distribute it they find it right in their uh document Management on their dashboard and uh literally two days after After we receive the K1 your   investors have the K1 so think about that and I know everybody's going through tax season here yesterday was kind of a a big day uh but it it's um it's a it's amazing that it really speaks to the technology that we have that we can receive the K1 on behalf of the the deal and then create those k1s in two days and distribute them to to the members I was just going to make one last Point Craig you know I think if you think about what we do if you think about an Institutional level group or fund so I think the way   fund managers can think about what we do is we really bring this institutional level uh setup legal Administration so think about a family office all the organization all the administration everything they need to have in place to operate well we bring that down to the individual level so you can have that institutional level Administration and setup as a you know a oneman business and therefore you can you can really build a business and a brand here's the thing one deal at a time you don't have   to go invest tens of hundreds of thousands of dollars you can do this one deal at a time because try best is in the business of of helping you uh launch a capital raising business efficiently amazing so let's get into the next two components which is expense and time so let's talk about time and then we'll bring it home for the the of course the the elephant in the room which is what is this going to cost me so let's get into the time factor and how long it takes to set everything up from Soup To Nuts from Hey I want to   work with the deal to you know funding and things of that nature Seth you want yeah yeah I'll jump in um timing wise you know we are industry leading in that in that as soon as you give us the basic information that you that we need for your fund of fund so you know just simple stuff like what do you want to call your LLC what do you want your preferred return to be what do you want your profit split to be those those things that you're going to make some decisions on as soon as you get those items to us which is in a simple   form that we provide that you fill out and we walk you through that as well we can have your business banking account and your LLC set up in two days and we'll have you ready to raise Capital meaning we're going to have your legal setup we're gonna have your business bank account open all those things done within five business days so that's why you know it's we should emphasize what Travis said there that it's a deal based decision I mean you can come to us with a deal that's already that's already   under contract that that maybe the lead sponsor is already raising for and say hey look I want to raise for this deal but I've only got a few weeks to go that that's plenty of time for us to to jump into action so it's really tough to do that with let's say you know if you came to me and I have my security attorney hat on i' would be like there's there's no way we we've got to get this going weeks before that like you've got to give us some setup time um with triest we've we've got it streamlined   and efficient to the point where five business days you're raising Capital that's incredible and that's just really a big X Factor that should make everyone feel comfortable with the process because you know there's situations just like go out a sponsor level here where hey a capital raiser might have not been able to get an allocation to deal because of the commitments were there and guess what someone Falls up short well now as you know as a sponsor whatever dollar is not coming in you got to make up for that so it's kind of a a   moving moving Target a kind of moving goal post in many respects so it's very nice that five days you're in you're out you're ready to go to the next that is awesome and then the next thought I have there is a capital allocator maybe you were late you're on vacation and there's this great deal that maybe your inbox is flooded and then one they you know peaked your interest and you could get the space into it well hey the deal could be live but you could have a five-day window to get your turntable   going to raise Capital safely and compliantly um in within this structure and infrastructure yeah great great points again I'll just come back to the benefits of working with some of our our lead sponsor partners like Lone Star so you heard Seth say hey as soon as you have all these things in order and you push the tri the tribit button we spring into action and you're ready to go right well you do need to have certain things figured out before you hit that tribit button and again the nice thing of   working with a a group like lonar amongst many other reasons is they have really ironed out the program the fun to fun program so if you're coming through them you already have those things figured out you hand them we get handed off or you get handed off to us and we're you're pushing that button and in five days you're ready to do onboard investors it's incredible that's amazing now the final thing what people have been waiting for what does this cost cuz you have to think for the amazing benefits   and the amazing opportunity you get to raise in this time and environment this has to cost a fortune maybe there's a massive upfront cost you know I'm not going to get into names but some groups charge an arm and a leg to get things set up if you want to do the more Boutique bespoke route where you're doing everything yourself without a name brand in a sense of the the setup you've got to go through the painstaking process of finding a Seth and a Travis and a this and a that to get all your documents ready to go however it's   pretty cost efficient and effective here so let's get into that I'll let Travis speak to our pricing at trivest but I do want to frame it with this when I worked in big law and you know massive Law Firm thousands of attorneys you would come to our law firm and want to put a fund of fund together or you know maybe even a more sophisticated fund but our prices started at $75,000 I think a lot of people out there in the industry are used to seeing kind of oh yeah maybe it costs like $115,000 maybe it cost $12,000 $225,000   on the top end when you get into the big leagues $75,000 to start and that's just your first drafts of your offering documents and then maybe one round of revisions and then we start charging you $1,000 doll plus an hour um to get across the finish line and that is just the legal by itself and guess what you may get there and then some could change a Nuance could happen and guess what you got to start it all over again and make further res revisions and have more billable hours to your incredible   attorney like s uh these people make a lot of money okay so this is a incredible opportunity to be in a very nice spot here where it might be cheaper and to your point there about that dollar fee I'm hearing 25 Grand from certain Services I'm hearing 75k 50k to make it do it yourself and for some people that's great that's fine that fits into their budget but for I would say the most people that are doing this that probably makes it to a point where you're paying to raise capital and that's what we're looking to avoid and   solve with try this so with that said Travis lead us away absolutely no what a great discussion and I teased Seth all all the time about his his industry it is it is it's the establishment right so we're disrupting The Establishment no doubt about it and uh so we just talked about what it would cost kind of going the more traditional routes well we're able to do everything that we just shared with you the setup the legal offering do uh the banking the uh helping of the onboarding setting up the cap table you   know doing the servicing of the filing for you all that for $5,000 so literally say that one more time please $5,000 yes only $5,000 and here's the other thing right when we talk about having the economics of the fun to fund set up and again getting back to the benefits of working with loone star is they've they've figured out the terms and uh even added in all the expenses of tribe vest right so that $5,000 is actually included in those in the economics so it's you don't have to kind of add on additional uh cost it's all in   there right and and you can do that with tri best because it's contained there's there's no creep of cost right and and I think it's also important to call out how we're able to do this is we have made a very firm box of what we're doing of course we've we've tailored it to these deals like to these deals so everything's in there that you need including the compliance includ you know everything we just talked about um but that's how we're able to do that this at scale and TurnKey and done for for you   so it's $5,000 to set up now we could also talk about what's it cost to administer this over five five years six years right most of these business plans are five years before they're exiting you know working with an administrator an Administration uh you know administrator you're talking about $155,000 a year well with tri best it's $2,000 a year remember we're doing all your uh distributions for you your cap table management that includes your k1s your taxes so you know anybody that's done this before they're like   it's more than $2,000 just to do the taxes every year right never mind you get the portal your investors have a a dashboard to see all their Investments and and set up their payout accounts and they get to see when their distributions are how many distributions they've had that's all there and and the distribution so anyway it's you know I think about we we mentioned right right place right time Craig and we've talked about all those things that kind of lined up for us but the industry has been trying to   figure this out and we just like to think that we're a small part of it we're that technology that kind of was the major unlock that kind of opened up the floodgates if you will and um and now our job is to go out there and tell people that this exists like this tool in technology is available for you and you should build a business on it yeah I want to make some other kind of comments and points there so you hear right there so just to summarize that it's $5,000 takes five days and it's you know   roughly $2,000 maybe a little bit more depending on the number of investors you have in the opportunity but all that's fine and dandy but if the product wasn't good that is where the problem is and it's sucks and I mean it sucks to spend money for something to not work well and people's experience that we've worked with have really liked the infrastructure of the product what it solves for because I think I'm someone personally that I am not afraid to spend a dollar I'm very good at spending money   but I like to spend money in areas where it's actually worth the money and I've had very good reviews here from people who have of course used the product so I just want to share that right there and that's kind of been some of the burden with some of the other products out there as well you spend a lot of money for the technology to not be great I mean Travis has a background with tech so inherently having that there to have the infrastructure be supported by a good product is the difference between   coming back and not coming back so I just want to tip the cap there to make it not only a good product but also have people come back to it but um it being cost efficient and effective as well and then the other time factor that I want to speak on is more from a sales perspective being someone that's been in sales by basically my entire career since I was 21 um almost a decade of sales in real estate specifically the last thing that I want to worry about and think about and do is uh had there be a burden of having you know to go   through Administration stuff talking to an attorney doing this doing that doing everything that's not shaking hands and legitimately moving the conversation forward and funding dollars into the account and what tribe best solves for is a cost- effective route with good technology and done quickly where you don't have to think about any admin stuff I want to connect with people I want to talk with people I want to grow the relationships and raise the capital I do not want to deal with in the your   view and the peripheral stuff and I'm sure you guys can appreciate that sentiment and also I've had people say similar things as well it means a ton to hear you say that of course that's we're building our business on fund managers coming back and building their business on our platform so um you know it's funny as as the founder and you know always improving and growing uh the the the the business and our solution We're Never Satisfied and um we always think we're disappointing in terms of the experience   or and we can be doing this better and we can right and we will but when we get feedback and we we do net promoter scores and get the feedback back from the fund managers and we get you know seven plus you know would you recommend this to friends and family and would you come back and that's just a super high rating if anybody's familiar with it and um and we're we're we're proud of that but we are just getting started I mean we are just getting started so I think we nailed the fact that we bring a ton   of value you know you're getting a good value uh but now we're going to really wow you and your investors that's our goal and uh we're going to keep pushing yeah so let's talk into maybe just the mission as the why you know why you guys are so passionate about this and want to create this product because you both are really smart guys you're very successful prior to this endeavor and Venture so you know why is this your mission and in your day to-day right now because you have the option of working so and doing   really what you want to do so let's talk about that maybe man that's Travis that's you again buddy you're the you're the big picture guy bring it oh man no look I think Seth and I this is personal for both of us right um my brothers and I wanted to get into real estate we didn't come from a real estate family you didn't get it you know that education in in school and we did what you know we've been doing since the beginning which is you know you come together with your tribe when you need to figure something out and that's what   we did and we we we started a a a tribe pulled our capital and started investing together and it changed our lives and it changed the trajectory of our of our family's Financial lives and um and that's why we're doing it um you know by doing this the fund managers right they're they're the they're the heroes in this movie the fund managers are the heroes in this movie that's how millions of investors are going to get access to these deals like the wealthy right we all know why we love real estate it it's   it appreciates it cash flow there's tax advantages you you name it there's a reason why the wealthy invest in these private deals these private real estate deals well most people don't have access to it the conduit to getting into those deals are you are the fund managers are those Capital raisers we're just happy that we're providing a tool for them that makes it easy that makes it easy but as you can tell we're passionate about it Seth I mean he he was a capital Riser right Seth's done a lot he's an   entrepreneur but he knows how hard it is to be a capital Riser and uh maybe you could talk a little bit about what what's motivating you s yeah I mean just quickly you know I took the the Bigger Pockets route so to speak you know read Rich Dad Poor Dad startlist to the Bigger Pockets podcast did a house hacked into a duplex and then started buying single family properties fixing flips and then started investing you're a grinder grinder just level by level by level right um started investing passively in deals when I   became a little bit more sophisticated um and then I was like okay now what now I want to be on the active side and at that point I really wanted to switch over to not practicing law whatsoever I was like screw this I'm leaving Big law I'm not doing this anymore I'm only going to invest in real estate um but then kind of along the the Journey of becoming an active investor and a syndicator and capital Riser I realized that my highest and best use is actually still as a Securities attorney and I'm   pretty good at it so I've kind of integrated that into my real estate business and and use that to um uh join join triest which is at the Forefront of I think perfect timing in this industry right like real estate and legal are two industries that just move extremely slow they're dinosaurs they don't want change and they're resistant to any kind of change right so we've got to as entrepreneurs even if we're fund managers or passive investors that are looking to um diversify our assets or lead sponsors we're the ones that have   to propel this forward and say hey we've got technology now behind us we've got all these different tools and ways to do things we need to take advantage of that and at Tri bestest we're building that so like what we are today is going to be completely different than what we are in q1 2025 and Beyond we are we are constantly building taking in feedback from all of our stakeholders and and and looking to take over the market I love it well then let's just real quickly go back into this we've kind of touched on   it but maybe just more specifically how you do work with everyone from lead sponsors fund managers and I know you're obviously always going to conferences and masterminds you're very accessible in many respects but let's just get into you know how you work with everyone once more just to maybe spoon feed everyone a little bit more information yeah absolutely so the lead sponsor uh we help them form their funto fun program right and that's a huge Advantage for them uh that they can offer a turnkey   funto fund program to their Capital Partners their their Capital raisers their fund managers and we'll we'll actually sit down and talk about all the things that you need to do for that to be successful you know how are you going to work with the fund manager um economics we talked about that you got to build in the fun to fun economics into your underwriting you know uh how are you how are you going to give them access to the marketing tools those types of things and really the the blueprint is is um you know is Lone Star   so lone Stars uh leading the way as they do in most things out there and have built just an awesome fun to fun program and that's why so many fun to fun managers are working with them but um you know that's how we work with the the uh the lead sponsors and we talked about all the benefits of that cool and then go ahead Seth on the are any questions there Craig no I think that that was really well said um kind of building out the blueprint that many people don't have and just how it works and pertains   to us if you are a capital allocator you kind of have understanding of the deal functions and then there's a additional level there of of underwriting materials so you can raise Capital so you understand the ever important what's in it for me conversation you can assess your opportunity cost between us and other sponsor if you're looking at other deals and whatnot I'll tell you this right now I'll say it again and again again we under promise and overd deliver that's kind of the the Mantra that we   try to have here like everything we're probably never going to show you the highest Returns on projections um we like to beat our deals up as much as possible prior to going live because it doesn't serve us nor you the investors to see what the best case scenario is um we try to make it as modest as possible with our assumptions so you know we have our infrastructure for what the deal looks like from an underwriting perspective what your theoretical compensation could look like so these are things are just very important to   think about uh we want basically everyone to be at parody what do I mean by that well if you're a capital raiser looking to raise for our deals we want your investor returns and our investor returns to look very similar they're going to vary ever so slightly because there's a slight drag you know for the fees Associated to the deal what do I mean by that well there's the administration fees that could be about $2,000 so sometimes that by comes by way of affecting the cash on cash return minuscule from a couple you know basis   points I would say roughly about the what looks like but you'll make it on the back end for the lift and raise of the deal there when the deal goes to sell so it's never going to be 100% similar because there are some you know technical nuances there but it is to be fair to everyone there and then you'll be getting you know a nice return on the deal that you raise for as well should there be profit split um above the preferred return so I just think that's a really important thing to hit on as to   how that fundamentally works now let's get into Seth with you over there on fund managers yeah fund managers we kind of touched on it already but you know we' we've changed our business so we're ready to work with fund managers directly um you know you can reach out to us and have an exploratory call if you want but really when you have a deal or you have a lead sponsor that you're ready to to work with that's really when we can spring into action um make that introduction reach out to us make the   introduction to the lead sponsor we can start going to work and again we can have you uh once we have the the information and and the things that we need from all the stakeholders we can have you up and running in five days and you know I'll just go ahead and talk about the passive investors too because they are really important maybe the most important I know a lot of those folks are are listening right now and just know that that's on our that's always on our road map to make the passive investors happy to make that user   experience awesome and streamlined and um you know just just an awesome experience for that passive investor because ultimately that's who we're serving we're trying to reach the passive investors let them get their money moving and so they can uh create multiple streams of income and we want to make that experience awesome for them because if they're happy then the fund managers are happy and the lead sponsors are happy too yeah there's two things that this show is about it's about the for this particular episode two things   it is the fund manager to be safely raising money in an everchanging business business and it is all about at the end of the day the investor the investor is the straw that stirs the drink they are the king of the beach so to speak they're the ones that this is all about for us to be able to give people who may not know that they can invest in those beautiful commercial real estate buildings that we drive by all the time you know it's sad to think that you know that's not in the hands of Main Street so to speak you know a   $50,000 investment gives you access uh to that product type now I'm not saying that's where every dollar should be you should have money probably in the stock market maybe you should have some money in your primary residence maybe you don't believe that mattra but you should have also some money in these institutional grade ACC or assets and that's what we're delivering here and it's so fun to be in a conversation with you both because you guys really are creating and are the future so it's cool   to be in in the moment to be having the conversation now but to be also progressing accordingly with with you all moving forward we just appreciate the partnership there's a reason why when we were cherry picking our initial lead sponsors that we we started to work with lonar and uh just you know couldn't couldn't tell you couldn't tell you how much we appreciate uh this partnership and and like you looking forward to what's to come in the future here yeah well with that said we could talk forever but we got to wrap it up at some   point so let's do that now Travis and sth thank you so much for giving us so much of your time here being generous how can people reach out with you want to learn more with maybe partnering at a sponsor level investor level and or a uh fund manager level absolutely LinkedIn is always the best place to kind of find me and follow me let me know you you heard me on this show I'd love to connect with you and uh and then you can email me and we'll also have a link on the show notes Here If that's uh if that's uh okay yeah of   course you can check out trib vest.com obviously and then for me you can find me all over any social media platform so feel free to reach out excellent well gentlemen thank you so much for your time today for those listening I hope you enjoyed this informative conversation about how the industry is moving and grooving and Ever Changing uh so we'll see you next week everyone have a great rest of your day peace Links from the Show and Guest Info and Links: https://www.youtube.com/watch?v=GVgT4GMrPPI&t=70s https://www.structuringandraising.com https://www.lscre.com/content/passive… https://www.lscre.com/resource/underw Seth Bradley's Links: https://x.com/sethbradleyesq https://www.youtube.com/@sethbradleyesq www.facebook.com/sethbradleyesq https://www.threads.com/@sethbradleyesq https://www.instagram.com/sethbradleyesq/ https://www.linkedin.com/in/sethbradleyesq/ https://passiveincomeattorney.com/seth-bradley/ https://www.biggerpockets.com/users/sethbradleyesq https://medium.com/@sethbradleyesq https://www.tiktok.com/@sethbradleyesq?lang=en Rob Beardsley's Links: https://www.linkedin.com/in/rob-beardsley/ https://www.facebook.com/RobBeardsleyLSC/ https://www.lscre.com/team/rob-beardsley https://www.instagram.com/robbeardsley8/ https://www.facebook.com/RobertToddBeardsleyIII/ https://x.com/RobBeardsley3?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor https://www.tiktok.com/@robbeardsley3

Meera Chandan, Anezka Christovova and James Nelligan discuss the outlook for the dollar and the next catalysts following the recent consolidation, various scenarios for the Russia-Ukraine ceasefire and implications for DM and EM currencies in the region. A deep dive into GBP and Scandi central banks, as well as a discussion of our highest conviction views in the region also follows.   This podcast was recorded on 15 August 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5054858-0, https://www.jpmm.com/research/content/GPS-5058610-0, https://www.jpmm.com/research/content/GPS-5056093-0  for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.  

In this podcast Khagendra Gupta, Morten Lund, and James Nelligan discuss recent developments and our views in Sweden and Norway macro, FX, and rates market.   This podcast was recorded on 15 August 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5054858-0, https://www.jpmm.com/research/content/GPS-5052254-0, https://www.jpmm.com/research/content/GPS-5048039-0, https://www.jpmm.com/research/content/GPS-5057023-0, https://www.jpmm.com/research/content/GPS-5054895-0   for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.  

In this second episode of Kiln L1 Ecosystems Rendez-Vous, we sit down with Don Wilson, the founder and CEO of DRW. DRW is a diversified trading firm with over 2,000 employees across major financial hubs with proven expertise innovating across both traditional and cutting-edge markets. Listen as Don shares his unique insights on:

In this podcast Khagendra Gupta and Ipek Ozil discuss the drivers of US and Eurex futures roll and their outlook for Sep25/Dec25 bond futures rollover.   Speakers:   Ipek Ozil, Head of U.S. Interest Rate Derivatives Strategy Khagendra Gupta, Head of European Interest Rate Derivatives Strategy   This podcast was recorded on August 14, 2025.   This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5049823-0 and https://www.jpmm.com/research/content/GPS-5056091-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Institutional Bitcoin adoption is accelerating — with record ETF inflows, corporate treasuries buying BTC, and policy shifts that could open trillions in capital flows. In this episode of Bitcoin Policy Hour, special guests Alex Thorn and Stephen Pollock join the show to break down the $54B surge into Bitcoin ETFs, the growing list of Bitcoin treasury companies, and Washington's moves on banking access and 401(k) modernization.We also cover the Tornado Cash verdict and what it means for privacy tools, money transmission laws, and the future of crypto regulation. From Wall Street to Washington, Bitcoin's path to becoming a global reserve asset is taking shape.⭐ Join Bitcoin Magazine @ Bitcoin Asia 2025, Aug. 28-29 in Hong Kong! Get your tickets at: https://asia.b.tc/ today!

2025 has not been kind to Harvard. To date, the Trump administration has revoked nearly $3 billion in research funding to the university, demanding violations of free speech, academic freedom, and institutional autonomy in return for restoring the funding. In response, Harvard filed a lawsuit, raising First Amendment claims.  Helping us unpack all things Harvard are: Larry Summers, President Emeritus, professor (Harvard) & advisory council member (FIRE) Greg Lukianoff, President & CEO (FIRE) Timestamps:  00:00 Intro 02:32 Harvard's disputes with the Trump administration 08:29 The need for internal reforms at Harvard 42:50 Institutional neutrality debate 46:16 IHRA definition of anti-Semitism 01:01:28 Latest update on potential Harvard-Trump administration settlement Enjoy listening to the podcast? Donate to FIRE today and get exclusive content like member webinars, special episodes, and more. If you became a FIRE Member through a donation to FIRE at thefire.org and would like access to Substack's paid subscriber podcast feed, please email sotospeak@thefire.org. Show notes: The War on Words: 10 Arguments Against Free Speech—and Why They Fail by Greg Lukianoff & Nadine Strossen (2025)  

Subscribe to Nicholas Gruen's Substack - https://nicholasgruen.substack.com/I joined the Australian economist Nicholas Gruen recently in his Melbourne home to host his first 'long-form' podcast (although I'm not sure at what hour it goes from short to long)At the core of Gruen's worldview is the “un-seriousness” he levels at Australian politics, the media landscape, institutions and in a word... bureaucracies.From his creation of the HALE Index to his decades inside Australia's public institutions, Nicholas continuously challenges orthodox thinking.The podcast covers the (in my opinion) radical yet (Nicholas's opinion) ancient idea of citizens' juries as a second pillar of representation, the reasons bold policy rarely survives bureaucratic reality, and how lessons from the Toyota production system could help governments actually listen to people at the bottom of the hierarchy.Along the way, Gruen takes us from Australia's superannuation system to pokies, from the mental health crisis to the subtle erosion of public-spiritedness inside organisations. To be specific, these are all the topics covered in this chat.The HALE Index of Well-being – Why GDP misses the mark, how HALE works, and what it reveals about Australia's progress.Measuring What Matters – The limits of subjective well-being metrics, correlations between indicators, and why faux indexes mislead policymakers.Indigenous Policy Contradictions – The tension between material “gap closing” and self-determination, and why policy rarely confronts it.Citizens' Juries & Political Reform – Introducing random selection into governance and how it could act as a check on elected officials.Goodhart's Law in Action – How turning measures into targets corrupts them, and the problem of gaming metrics in education and beyond.Internal vs External Goods – Alasdair MacIntyre's framework and its relevance to public service, corporate culture, and motivation.Institutional Stagnation – Why promising initiatives stall, and how bottom-up programs could scale without being crushed by bureaucracy.Toyota Production System Lessons – Building respect for frontline workers into systems and how it transforms performance.Australia's Superannuation System – Strengths, inefficiencies, unfair taxation, and misaligned regulation of self-managed super funds.Compulsory Voting & Preferential Systems – How they shape Australia's political centre and guard against extreme populism.Universities Today – The shift from idea-driven discourse to metric-chasing careerism, especially in economics.Trade-offs vs Synergies – Why economics often overemphasises trade-offs, and examples of where quality and cost improve together.Timestamps00:00 Introduction to Nicholas Gruen05:41 The Limitations of GDP as a Measure11:08 Inequality and Its Impact on Well-being16:45 The Role of Metrics in Policy Making22:10 The Importance of Community Engagement41:48 Connecting Education to the Real World47:24 Learning from Toyota's Success56:52 The Flaws in Superannuation System01:02:55 Reforming Auditing Practices01:11:39 The Shift in University Education01:20:59 Divergent Perspectives in Economics01:32:49 Rethinking Representation in Democracy01:48:25 The Role of Elite Consensus in Political Change02:07:58 Understanding Domestic Violence in Indigenous Communities02:21:55 The Role of New Media in Political Discourse02:26:38 The Impact of Gambling on Australian Society02:36:08 The Nature of Optimism and Serendipity in Life

In this episode of The Defiant Podcast, Paul Frambot, Co-Founder of Morpho, details how DeFi is transforming the financial industry by intersecting with fintech, shifting value to network users, and reshaping how lending protocols work. He outlines the evolution from early peer-to-peer lending to today's permissionless, immutable infrastructure, highlighting Morpho's product design, its approach to risk management, and specific use cases in institutional finance and global wallet integration. Discussions cover the role of risk managers, transparency benefits, the emergence of DeFi as backbone infrastructure for fintechs, and how platforms like Coinbase now use Morpho behind the scenes.Paul reflects on how Morpho enables global liquidity, allows businesses and individuals to create custom lending markets, and how DeFi's open competition leads to better rates and more efficient markets. The conversation wraps with thoughts on unsecured lending, the path to real-world financial product integration, and Morpho's long-term vision to become the foundational protocol for global financing.Chapters:00:00 Fintech disruption, DeFi's impact on infrastructure 01:21 Founding Morpho: backstory and protocol design 03:04 Pushing for permissionless, immutable protocol infrastructure 04:16 Institutional adoption, wallet integrations, and B2B use cases 07:01 Managing risk and collateral in open protocols 10:32 Shift in institutional engagement and business adoption 15:20 Native on-chain fund issuance, regulations, and international frameworks 17:04 Equity and securities as next steps for on-chain finance 19:03 Real-world example: Coinbase leveraging Morpho for global lending liquidity 20:28 End-to-end DeFi integrations: wallet abstraction and feature parity 22:26 Four core benefits when fintechs use DeFi as backend 24:07 Transparency, self-custody, and proof of reserves in DeFi 25:06 Institutional desire for infrastructure ownership—not just distribution 26:29 Competitive rates: DeFi vs. traditional finance lending 27:51 Barriers for banks: regulation, compliance, privacy, and operational hurdles 30:00 Privacy on-chain: transaction anonymity vs. amount privacy 32:29 How DeFi lending markets evolved: competition and network effects 34:00 Differing visions: Morpho as infrastructure vs. Aave as integrated bank 37:12 Market size: overcollateralized and undercollateralized lending potential 38:04 How DeFi could unlock unsecured credit 41:24 Under-collateralized lending, trust, and on-chain identity primitives 44:28 Morpho's long-term vision and the future of DeFi/fintech convergence

CoinFund Founder and CEO Jake Brukhman joins CoinDesk's Jenn Sanasie to reflect on the 10th anniversary of his company and look ahead to what's next. He discusses why institutional adoption is now a reality and how the "app chain thesis" is shaping the future of finance. Plus, he explores the reality of institutional adoption, the evolution of decentralized governance, and what it will take to onboard the next wave of users.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Nora Szentivanyi and Tingting Ge discuss their latest research on China's evolving role in global goods disinflation, the impact of higher US tariffs on China's trade with the rest of the world, its export price competitiveness and the implications of currency movements for the inflation outlook. We also expand on the root-causes of China's excess capacity and whether the government's latest anti-involution measures are gaining traction.   This podcast was recorded on 08 August 2025. This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-5045284-0, https://www.jpmm.com/research/content/GPS-4958251-0, for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Global industry is stalling at midyear and we look for the soft patch to continue as the trade war bites and global capex growth softens. The Fed looks likely to restart its easing cycle in September. The addition of Stephen Miran to the Fed opens the door to significant reforms, some of which could threaten independence.   This podcast was recorded on August 8, 2025. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

In this podcast Francis Diamond and Khagendra Gupta discuss the August BoE rate decision and provide and update on Scandinavian Rate market themes and views.   This podcast was recorded on 08 August 2025. This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-5052438-0, https://www.jpmm.com/research/content/GPS-5052254-0, for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

This week, our Global FX & EM strategists, Patrick Locke, Antonin Delair and Anezka Christovova discuss recent developments for the dollar, takeaways from our suite of systematic FX signals,  and what's behind our EM FX upgrade to OW this week. This podcast was recorded on 08 August 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5035130-0 , https://www.jpmm.com/research/content/GPS-5049466-0  for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.  

For episode 571 of the BlockHash Podcast, host Brandon Zemp is joined by Nemil Dalal, Head of Coinbase Developer Platform and one of the founding engineers of USDC. ⏳ Timestamps: (0:00) Introduction(1:12) Who is Nemil Dalal?(2:44) Origins of USDC(4:38) Excitement around Stablecoins & USDC(7:23) Agentic Commerce(11:17) Coinbase Developer Platform(14:00) Embedded Wallets(17:08) Institutional interest in Web3(20:41) Coinbase Developer Platform Roadmap

*Content warning: distressing topics, bullying, addiction, Institutional child abuse, ‘troubled teen industry' (TTI), disability abuse, body image abuse, sexual trauma, medical neglect, therapeutic trauma.  *Free + Confidential Resources + Safety Tips:  somethingwaswrong.com/resources    *SWW S23 Theme Song & Artwork:  The S24 cover art is by the Amazing Sara Stewart Follow Something Was Wrong: Website: somethingwaswrong.com  IG: instagram.com/somethingwaswrongpodcast TikTok: tiktok.com/@somethingwaswrongpodcast  Follow Tiffany Reese: Website: tiffanyreese.me  IG: instagram.com/lookieboo *Sources  Adirondack Leadership Expeditions, Troubled Teens Directory https://www.troubledteenprograms.org/listing/adirondack-leadership-expeditions  Adirondack Leadership Expeditions, Unsilenced https://www.unsilenced.org/program-archive/us-programs/new-york/adirondack-leadership-expeditions/ Bain Capital Private Equity Acquires CRC Health, Merger https://mergr.com/transaction/bain-capital-private-equity-acquires-crc-health  Mitt Romney and Bain Capital:Greed, Debt and Hypocrisy, UE Union https://www.ueunion.org/political-action/2012/mitt-romney-and-bain-capital-greed-debt-and-hypocrisy-  Outdoor program for troubled teens closing, Adirondack Daily Enterprise https://www.adirondackdailyenterprise.com/news/local-news/2013/07/outdoor-program-for-troubled-teens-closing   The Real Scandal of Romney and Bain, The New Yorker https://www.newyorker.com/news/news-desk/the-real-scandal-of-romney-and-bain 

*Content warning: distressing topics, childhood abuse, substance use disorder, cultic abuse, Institutional child abuse, ‘troubled teen industry' (TTI), suicidal ideation, medical neglect, disability abuse, PTSD.  *Free + Confidential Resources + Safety Tips:  somethingwaswrong.com/resources    *SWW S23 Theme Song & Artwork:  The S24 cover art is by the Amazing Sara Stewart Follow Something Was Wrong: Website: somethingwaswrong.com  IG: instagram.com/somethingwaswrongpodcast TikTok: tiktok.com/@somethingwaswrongpodcast  Follow Tiffany Reese: Website: tiffanyreese.me  IG: instagram.com/lookieboo *Sources  Dr. Daniel Keating's Website https://pngprogram.isr.umich.edu/about-us/daniel-keating/ Born Anxious: The Lifelong Impact of Early Life Adversity - And How to Break the Cycle: https://src.isr.umich.edu/new-book-born-anxious-by-dan-keating/ Michigan Survey Research Center https://src.isr.umich.edu/ Substance Abuse and Mental Health Services Administration https://www.samhsa.gov/

UK economist Allan Monks joins FX strategist James Nelligan to discuss the risks around the BoE policy meeting this week and the broader view on the UK economy and the pound sterling.   Speakers: James Nelligan, Global FX Strategy Allan Monks, Chief UK Economist   This podcast was recorded on August 5, 2025 This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5042950-0,  for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.    

On this episode of the Defiant Podcast, Charlie Hu, co-founder of Bit Layer, discusses the evolution of Bitcoin beyond its role as a store of value. The conversation addresses trends in Bitcoin programmability, the development of layer two networks, liquidity in DeFi, and adoption by institutions. Cami and Charlie discuss technical distinctions among Bitcoin scaling solutions and the integration of Bitcoin with other blockchain ecosystems. Then, they conclude by exploring practical considerations for developers and users interested in these changes.Chapters:00:00 - 00:17 Introduction; Bitcoin's binary narrative debated 00:17 - 00:28 Potential impacts of low network activity 00:37 - 00:59 Bitlayer overview and recent platform developments 00:59 - 01:26 Bitcoin's price rally and changing role 01:26 - 02:09 Guest background: early experiences in Web3 02:09 - 03:15 Lessons from Ethereum and cross-chain growth 03:15 - 06:06 Founding Bitlayer; motivations and industry context 06:06 - 09:59 Network sustainability and security considerations 09:59 - 16:00 Bit Layer's technology focus and design choices 16:00 - 30:08 Bitcoin Virtual Machines and cross-ecosystem cooperation 30:08 - 45:00 Unlocking Bitcoin liquidity; DeFi adoption and risks 45:00 - 52:00 Institutional involvement and new use cases 52:00 - End Onboarding, governance, and next steps for the ecosystem

Hosted by IPAA National President Andrew Metcalfe, AO FIPAA, this episode of Work with Purpose explores how the public sector might manage an increasingly complex global public sector environment, while maintaining a spirit of humility and empathy in serving the community.Public administration on a global scale is facing challenges from growing hostility influenced by misinformation and political rhetoric, which is impacting public servants' morale and the perception of government institutions.In this discussion, Crawford School of Public Policy Director Janine O'Flynn reflects on her address to the 2025 American Society of Public Administration Conference which highlighted these issues alongside efforts to build a positive narrative for public service and the integration of technology like AI in governance.This podcast delves into the long-running global debate on the value of public service – a conversation that continues to evolve across different national contexts.Key tips: Lead with empathy – recognise the emotional toll of uncertainty and trauma on public sector employees. Whether you're a leader or a colleague, approach conversations and decisions with compassion and understanding.Champion positivity – actively highlight the value and impact of public sector work. Sharing success stories and meaningful contributions helps counteract public hostility and rebuild trust.Engage thoughtfully with AI – understand that trust in artificial intelligence depends on more than just technology; it requires ethical oversight, sound judgement, and high-quality data. Advocate for systems that challenge, rather than replicate, existing biases.Show notes:Utrecht University project on Successful Public Governance | Utrecht University, NetherlandsSpeech to the American Society for Public Administration | Crawford School of Public PolicyPathways to Positive Public Administration: An International Perspective | Open source book via Elgar OnlineHas the time arrived for Positive Public Administration | The MandarinAutomated Assistance in Administrative Decision Making [2004] | Administrative Review Council Reports2025 American Society of Public Administration Conference | ASPANet Hosted on Acast. See acast.com/privacy for more information.

It's just two of us today. Cody and Evan look at a variety of headlines including Season 2 of Shiny, Happy People, whether churches should protect parishioners from ICE, a rise in institutional trust in churches, a fall in trust in vaccines, and more.

This week's blogpost - https://bahnsen.co/3IOsn3v Rethinking the Volatility Paradigm with Ishan Chhabra In this episode of the Thoughts and Money Podcast, host Trevor Cummings and his colleague Blaine Carver welcome guest Ishan Chhabra to discuss his article, 'When Risk Isn't What it Seems.' They explore the traditional views of risk and volatility in finance, highlighting the differences between individual and institutional perspectives. The conversation delves into emotional biases, the importance of understanding one's own risk tolerance, and how financial advisors can help clients navigate these complexities. They also touch on strategies like dollar cost averaging, the concept of loss aversion, and the benefits of having a diversified portfolio. Throughout the episode, the trio emphasizes the value of personalized financial planning and the role of experienced advisors in helping clients make informed decisions. 00:00 Introduction and Guest Introduction 00:31 Overview of the Article: Rethinking Risk 01:03 Institutional vs. Individual Risk Perception 02:08 Behavioral Economics and Risk 03:47 Volatility and Time Horizon 04:36 Real-Life Analogies of Risk 06:19 Financial Advisory and Risk Management 09:35 Emotional Biases in Investing 14:57 The Role of Financial Advisors 20:52 Investment Strategies and Risk Mitigation 25:19 Conviction in Investment Decisions 26:09 Understanding Inflation and Long-Term Risk 27:03 Customizing Financial Plans 31:09 The Importance of Diversification 32:39 Human Behavior and Financial Decisions 33:03 Balancing Emotional and Mathematical Aspects 37:00 Personalizing Financial Advice 42:33 Balancing Risk and Reward 49:13 Concluding Thoughts and Listener Engagement Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

First-half resilience and robust risk markets have challenged our forecast for a sharp deceleration in 2H25 and tempered risks of recession. This week's news on global industry and the US labor market affirms our call.   Speakers: Bruce Kasman Joseph Lupton   This podcast was recorded on 1 August 2025. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Jonny Goulden and Anezka Christovova discuss the latest market developments and their impacts for the EM fixed income asset class.   This podcast was recorded on 01 August 2025. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Trade negotiations and tariffs continue to roil commodity markets with the Trump administration warning that India and China will face penalties due to their ongoing purchases of Russian oil while also shocking the copper market this week by exempting refined copper cathode from Section 232 duties. Natasha Kaneva is joined by Greg Shearer to discuss these developments and how they shape the outlook on prices over the balance of the year.   Speakers: Natasha Kaneva, Head of Global Commodities Research  Gregory Shearer, Head of Base and Precious Metals Research   This podcast was recorded on August 1, 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5044362-0, https://www.jpmm.com/research/content/GPS-5044343-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.  

Meera Chandan and Jay Barry discuss the take-aways for FX and rates from key events this week, ranging from FOMC, Payrolls, Refunding and Trade deals.    Speakers Meera Chandan, Global FX Strategy Jay Barry, Head of Global Rates Strategy    This podcast was recorded on 8/1/25. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5045488-0 and https://www.jpmm.com/research/content/GPS-5042769-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

This week on Byte-Sized Insight, we dive into the groundbreaking passage of the GENIUS Act, examining its profound impacts on stablecoins and global crypto markets. Joined by Fabian Dori, chief investment officer at Sygnum, we discuss how new US regulations are reshaping institutional confidence, redefining stablecoin use cases and prompting Europe to rethink its crypto strategies. Plus, we explore what's fueling the stablecoin boom and why traditional banks are wary of crypto firms gaining banking licenses.(00:08) Introduction: Exploring the GENIUS Act(02:09) Fabian Dori on the significance of the GENIUS Act(03:23) Institutional adoption and the future of stablecoins(04:09) Controversy: The ban on yield-bearing stablecoins(04:51) How stablecoins differ from tokenized money-market funds(05:25) Europe's response: Digital euro and regulatory pressures(07:40) How Sygnum navigates regulatory changes(08:26) Traditional banks push back on crypto licenses(09:55) What's driving the stablecoin market boom?(11:39) Final thoughts: Stablecoins reshaping global finance.This episode was hosted and produced by Savannah Fortis, @savannah_fortis.Follow Cointelegraph on X @Cointelegraph.Check out Cointelegraph at cointelegraph.com.If you like what you heard, rate us and leave a review!The views, thoughts and opinions expressed in this podcast are its participants' alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. This podcast (and any related content) is for entertainment purposes only and does not constitute financial advice, nor should it be taken as such. Everyone must do their own research and make their own decisions. The podcast's participants may or may not own any of the assets mentioned.

DeFi is getting its second wind, and this time it's different. Revenue sharing, buybacks, and actual value accrual are replacing the empty promises of DeFi summer.In today's episode, we sit down with Corey from Dolomite to explore how money markets are evolving into full-service prime brokerages and why protocols need unique efficiencies to survive. We also dive into Dolomite and their diverse offerings.Let's get into it.The Rollup------Website: https://therollup.co/Spotify: https://open.spotify.com/show/1P6ZeYd9vbF3hJA2n7qoL5?si=7230787bb90947efPodcast: https://therollup.co/category/podcastFollow us on X: https://www.x.com/therollupcoFollow Rob on X: https://www.x.com/robbie_rollupFollow Andy on X: https://www.x.com/ayyyeandyJoin our TG group: https://t.me/+8ARkR_YZixE5YjBhThe Rollup Disclosures: https://therollup.co/the-rollup-discl

*Content warning: distressing topics, childhood abuse, death, psychological, sexual and physical violence of children, self-harm, murder, psychological and physical violence of children, substance use disorder, cultic abuse, Institutional child abuse, ‘troubled teen industry' (TTI), suicidal ideation, medical neglect, disability abuse, PTSD.  *Free + Confidential Resources + Safety Tips:  somethingwaswrong.com/resources    *SWW S23 Theme Song & Artwork:  The S24 cover art is by the Amazing Sara Stewart Follow Something Was Wrong: Website: somethingwaswrong.com  IG: instagram.com/somethingwaswrongpodcast TikTok: tiktok.com/@somethingwaswrongpodcast  Follow Tiffany Reese: Website: tiffanyreese.me  IG: instagram.com/lookieboo *Sources  Aspen Education Group, Lathrop Lybrook https://lathroplybrook.com/aspen-education-group/  Dark Forest: A Look Inside Controversial Wilderness Therapy Camps, Sierra Nevada Ally sierranevadaally.org/2023/08/02/dark-forest-a-look-inside-controversial-wilderness-therapy-camps/ Death of a 12-year-old boy at Trails Carolina ruled a homicide https://spectrumlocalnews.com/nc/charlotte/news/2024/06/24/trails-carolina-death-homicide Embark Behavioral Health  https://www.embarkbh.com/ Former attendees describe ‘nightmare' at therapy camp in NC mountains. DHHS suspended admissions after 12-year-old died, Carolina Public Press  https://carolinapublicpress.org/63565/camp-nc-mountains-dhhs-scrutiny-camper-death-sexual-assault-transylvania/  Hawai'i Department of Health's Office of Health Care Assurance Cites Pacific Quest Corp. for Illegally Operating Unlicensed Special Treatment Facilities or Therapeutic Living Programs https://health.hawaii.gov/news/newsroom/hawaii-department-of-healths-office-of-health-care-assurance-cites-pacific-quest-corp-for-illegally-operating-unlicensed-special-treatment-facilities-or-therapeutic-living-programs/ Health Department cites 2 teen treatment facilities on Big Island, Star Advertiser https://www.staradvertiser.com/2020/01/13/hawaii-news/health-department-cites-two-teen-treatment-facilities-in-keaau/  Lawsuit claims Trails Carolina misled parents, charged huge fees and created abusive environment, Spectrum News 1 https://spectrumlocalnews.com/nys/rochester/news/2025/04/30/trails-carolina-facing-new-class-action-lawsuit  NC therapy camp Trails Carolina where 2 have died faces lawsuit over child sexual assault, FOX 8 https://myfox8.com/news/north-carolina/nc-therapy-camp-trails-carolina-where-2-have-died-faces-lawsuit-over-child-sexual-assault/ New Leaf Academy https://en-academic.com/dic.nsf/enwiki/5109613  New Leaf Academy, ‘Programs for Troubled Teens' https://programsfortroubledteens.com/directory/new-leaf-academy/ No charges filed in death of child at Trails Carolina, WSPA https://www.wspa.com/news/local-news/no-charges-filed-in-death-of-child-at-trails-carolina/  Owner-Operators Help Provide Quality Care, Family Help & Wellness https://famhelp.com/owners/  Pacific Quest https://pacificquest.org/  Pacific Quest FAQ https://pacificquest.org/faq/  Pacific Quest Bridges the Gap Between Outdoor Wilderness Therapy and Residential Treatment Programs, Outdoor Sportswire https://www.outdoorsportswire.com/pacific-quest-bridges-the-gap-between-outdoor-wilderness-therapy-and-residential-treatment-programs/  Parents take ‘troubled teen' industry to court in lawsuit against owners of shuttered western NC wilderness therapy program  https://www.wral.com/story/parents-take-troubled-teen-industry-to-court-in-lawsuit-against-owners-of-shuttered-western-nc-wilderness-therapy-program/21671633/ Samantha's New Leaf Academy (now Embark Behavioral Health) Testimony, Unsilenced https://www.unsilenced.org/samanthas-testimony-new-leaf-academy-now-embark-behavioral-health-2007-2009/  Trails Carolina, Unsilenced https://www.unsilenced.org/program-archive/us-programs/north-carolina/trails-carolina/  'Where the hell am I?': Former campers describe harsh introduction to Trails Carolina, NBC News https://www.nbcnews.com/news/us-news/trails-carolina-wilderness-camp-death-rcna139942    Where does Trails Carolina stand 1 year since the death of 12-year-old boy at North Carolina troubled teen camp? https://myfox8.com/news/north-carolina/where-does-trails-carolina-stand-1-year-since-the-death-of-12-year-old-boy-at-north-carolina-troubled-teen-camp/

Recently National Business Development Manager Mike Cunningham attended the Business of Small College Athletics (BoSCA) Convention in Oak Brook, IL. While there, he captured amazing presentations from Athletic Directors around the country that we thought would bring value to our audience here at the Gill Connections Podcast.We'll have five BONUS episodes in a row every Thursday starting last Thursday. We'd love to hear feedback from you to confirm this was a VALUE GIVER to you.In the meantime, if you are a small college administrator, to check out BoSCA as we were thoroughly impressed with the Convention and the Organization as a whole.

Teresa Ho and PJ Vohra discuss the latest developments with stablecoins, how they could or could not influence Treasury demand, and the introduction of tokenized money market funds.    Speakers:   Teresa Ho, Head of U.S. Short Duration Strategy Pankaj Vohra, U.S. Short-Term Fixed Income Strategy     This podcast was recorded on July 31, 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5034932-0 , https://www.jpmm.com/research/content/GPS-4927356-0, & https://www.jpmm.com/research/content/GPS-5030616-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Cantor Fitzgerald projects Bitcoin could one day hit $1,000,000, backed by growing institutional capital and corporate BTC treasury strategy. Today we unpack the $86B buying spree, Galaxy's $9B transaction that barely moved the price, and why bent bonds can't compete — Max Keiser says BTC is now safer than U.S. Treasuries. Dive in as we chart the path to hyperbitcoinization.

Cantor Fitzgerald projects Bitcoin could one day hit $1,000,000, backed by growing institutional capital and corporate BTC treasury strategy. Today we unpack the $86B buying spree, Galaxy's $9B transaction that barely moved the price, and why bent bonds can't compete — Max Keiser says BTC is now safer than U.S. Treasuries. Dive in as we chart the path to hyperbitcoinization. Learn more about your ad choices. Visit megaphone.fm/adchoices

Jahangir Aziz and Katie Marney discuss sluggish EM capital flows against a backdrop of trade uncertainty, risks to global growth, elevated treasury yields, and a weaker dollar. EM capital flows have been languishing and shifting in composition since about 2015. Hopes that a weaker US dollar would break EM capital flows out its malaise have not been fulfilled. We explore our finding that dollar's influence as a push factor for EM investment flows has been waning, while US Treasury yields matter more. EM also needs to offer a sufficient growth pick-up to pull in flows. We also discuss China's role as an attractor or substitute for broader EM capital flows. Greater macro stability for many EMs have also necessitated lower capital flows and enabled EM to face three big economic and funding shocks over the last 5 years. Speakers: Katherine Marney, Emerging Markets Economic and Policy Research Jahangir Aziz, Emerging Markets Economic and Policy Research   This podcast was recorded on July 29, 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5040188-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.  

Presenter John Maytham is an actor and author-turned-talk radio veteran and seasoned journalist. His show serves a round-up of local and international news coupled with the latest in business, sport, traffic and weather. The host’s eclectic interests mean the program often surprises the audience with intriguing book reviews and inspiring interviews profiling artists. A daily highlight is Rapid Fire, just after 5:30pm. CapeTalk fans call in, to stump the presenter with their general knowledge questions. Another firm favourite is the humorous Thursday crossing with award-winning journalist Rebecca Davis, called “Plan B”. Thank you for listening to a podcast from Afternoon Drive with John Maytham Listen live on Primedia+ weekdays from 15:00 and 18:00 (SA Time) to Afternoon Drive with John Maytham broadcast on CapeTalk https://buff.ly/NnFM3Nk For more from the show go to https://buff.ly/BSFy4Cn or find all the catch-up podcasts here https://buff.ly/n8nWt4x Subscribe to the CapeTalk Daily and Weekly Newsletters https://buff.ly/sbvVZD5 Follow us on social media: CapeTalk on Facebook: https://www.facebook.com/CapeTalk CapeTalk on TikTok: https://www.tiktok.com/@capetalk CapeTalk on Instagram: https://www.instagram.com/ CapeTalk on X: https://x.com/CapeTalk CapeTalk on YouTube: https://www.youtube.com/@CapeTalk567 See omnystudio.com/listener for privacy information.

This week's Friday Five dives into a deceptively quiet but consequential stretch for crypto. NLW and Scott Melker break down Dan Tapiero's massive $50 trillion crypto prediction, institutional progress like JPMorgan's collateralized crypto lending and Christie's $1B real estate crypto push, and how Ethereum is finally finding its moment. Plus, a look at the evolving Senate version of the crypto market structure bill, lobbying momentum in D.C., and Coinbase's bold new move with U.S.-based perpetual futures. The theme? The institutional floodgates are opening—and crypto is normalizing fast. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/@TheBreakdownBW Subscribe to the newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://blockworks.co/newsletter/thebreakdown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownBW

In this episode of The Digital Executive podcast, Elliot Johnson, CEO of Bitcoin Treasury Corporation and CIO of Evolve ETFs, shares his journey pioneering Canada's first spot Bitcoin and Ether ETFs. He offers a behind-the-scenes look at the regulatory and operational challenges of launching these crypto investment products, highlighting how Evolve ETFs now manages nearly $300 million across multiple digital asset funds with institutional-grade infrastructure and custody.Elliot also unpacks the mission of Bitcoin Treasury Corporation, a publicly traded company focused on Bitcoin as a reserve asset and lending vehicle. He explains how institutions are gradually warming up to Bitcoin, why large players will likely be the last to adopt, and how layer two networks like the Lightning Network may become a surprising catalyst for global mainstream Bitcoin adoption.Like to be a future guest on the show? Apply Here 

This week on Breaking Battlegrounds, Congressman Pat Harrigan joins Chuck and Sam to discuss his new bill cracking down on foreign espionage from China, Russia, Iran, and North Korea, his national security wins in the NDAA, and why young Americans should consider joining the military. He also weighs in on U.S. support for Ukraine and removing Chinese influence from defense infrastructure. Next, Zach Fletcher stops by in studio to highlight the America 250 Tour, a patriotic celebration traveling to all 50 states in honor of the nation's 250th anniversary. Then, RNC Chairman Michael Whatley outlines ongoing election integrity efforts across key states like Arizona and Michigan, including lawsuits to clean up voter rolls and defend ballot deadlines. Finally, financial analyst Gary Gygi breaks down the pros and cons of passive versus active investing. And as always, stay tuned for Kiley's Corner, where she gives an update on Bryan Kohberger and the Idaho 4 case and discusses the verdict of the five hockey players accused of sexual assault after winning the 2018 World Junior Championship.www.breakingbattlegrounds.voteTwitter: www.twitter.com/Breaking_BattleFacebook: www.facebook.com/breakingbattlegroundsInstagram: www.instagram.com/breakingbattlegroundsLinkedIn: www.linkedin.com/company/breakingbattlegroundsTruth Social: https://truthsocial.com/@breakingbattlegroundsShow sponsors:Invest Yrefy - investyrefy.comOld Glory DepotSupport American jobs while standing up for your values. OldGloryDepot.com brings you conservative pride on premium, made-in-USA gear. Don't settle—wear your patriotism proudly.Learn more at: OldGloryDepot.comDot VoteWith a .VOTE website, you ensure your political campaign stands out among the competition while simplifying how you reach voters.Learn more at: dotvote.vote4Freedom MobileExperience true freedom with 4Freedom Mobile, the exclusive provider offering nationwide coverage on all three major US networks (Verizon, AT&T, and T-Mobile) with just one SIM card. Our service not only connects you but also shields you from data collection by network operators, social media platforms, government agencies, and more.Use code ‘Battleground' to get your first month for $9 and save $10 a month every month after.Learn more at: 4FreedomMobile.comAbout our guest:Congressman Pat Harrigan brings a lifetime of service, leadership, and innovation to the U.S. House of Representatives. A combat-decorated Green Beret and a successful entrepreneur, Congressman Harrigan has dedicated his career to tackling challenges—on the battlefield, in business, and now in Congress.After graduating from the United States Military Academy at West Point with a degree in Nuclear Engineering, Congressman Harrigan commissioned as an Infantry officer and was stationed at Fort Wainwright, Alaska. He deployed to Afghanistan as a young Platoon Leader, commanding a remote combat outpost in the heart of the Arghandab Valley. At just 23 years old, Congressman Harrigan managed over 350 personnel and $100 million in infrastructure and equipment, gaining invaluable experience in high-pressure leadership.Recognizing the need for even greater expertise in unconventional warfare, Congressman Harrigan volunteered for and earned the Green Beret. As a member of the U.S. Army Special Forces, he returned to Afghanistan to lead operations in increasingly complex and volatile environments. For his service, he was awarded two Bronze Stars in recognition of his leadership and effectiveness in combat. These experiences shaped his understanding of the critical connection between accountability, mission success, and guiding teams under pressure.While serving in the military, Congressman Harrigan and his wife Rocky launched a small firearms business out of their home. Rooted in North Carolinian values of hard work and ingenuity, the company grew rapidly. What began in their living room quickly scaled into a thriving enterprise, producing American-made defense products that support national security. Today, the company operates out of a state-of-the-art manufacturing facility in Western North Carolina, creating jobs and fostering innovation for the region.The fall of Afghanistan marked a turning point for Congressman Harrigan. Watching the consequences of failed leadership unfold, he knew he had to act. Motivated by his dedication to his country and a desire to restore strength and accountability to Washington, Congressman Harrigan stepped forward to serve in Congress.Now, as a member of the U.S. House of Representatives, Congressman Harrigan applies the same principles that guided him in the Army and in business: bold leadership, unshakable integrity, and a commitment to delivering results.Congressman Harrigan and his wife Rocky have been married for 13 years and are the proud parents of two daughters, Reagan and McKinley. As North Carolina's voice in Congress, Pat is dedicated to serving the hardworking families and communities of the Tenth District. In every role—whether leading soldiers, growing a business, or serving his constituents—Congressman Harrigan remains dedicated to building a stronger, more secure America.-Zachary Fletcher's love for America runs deep. With over 12 years of marketing experience – including leadership roles in Fortune 500 companies – he now directs the America 250 Tour, overseeing national marketing and operations for this historic, state-by-state celebration of our nation's founding.Inspired by his mother, Kimberly Fletcher, founder of Moms for America, Zachary joined the movement to uplift mothers and preserve America's core values. He lives in Branson, Missouri, with his wife and two children, and is passionate about faith, freedom, and raising the next generation to love their country.-Michael Whatley has been a Republican activist for 40 years. He has served as the Chairman of the North Carolina Republican Party where he has led our Republican Candidates to unprecedented victories in each of the last two election cycles and has been named as General Counsel for the Republican National Committee where he will oversee all national election integrity programs.Since volunteering for Jesse Helms and President Ronald Reagan in 1984 as a sophomore at Watauga High School, Michael has knocked on doors, worked on phone banks, put out yard signs, recruited & trained volunteers and raised money for Republicans in Local, Legislative, Congressional, Senatorial and Presidential races from one end of North Carolina to the other.As a member of the Florida Recount Team, Michael fought to protect George W. Bush's historically close win and then served President Bush as a Senior Official at the Department of Energy.Michael got to see first-hand how important winning elections is for helping the citizens of North Carolina serving as Chief of Staff for Senator Elizabeth Dole.In 2015, Michael answered the call to help Donald J. Trump in North Carolina and helped deliver the Old North State for President Trump in both the 2016 and 2020 election cycles.Michael has earned a Bachelor's Degree in History from the University of North Carolina–Charlotte, a Master's Degree in Religion from Wake Forest University, a Master's Degree in Theology from the University of Notre Dame and a Law Degree from the Notre Dame Law School. He served as a Federal Law Clerk to the Honorable Robert Potter in Charlotte.Michael lives in Gaston County with his wife and three children and serves as a member of the vestry for his church.-Mr. Gary Gygi was hired by the Investment firm Dean Witter (became Morgan Stanley) after college and worked for the firm for about 15 years. During this time he achieved the position of First Vice President, Investment and branch manager of the Midvale, Utah office. Mr. Gygi won numerous sales awards and held the position of Branch Managed Money Coordinator and Branch Insurance Coordinator. Mr. Gygi left Morgan Stanley in 2003 to join the Investment management firm of Smoot Miller Cheney (later became SMC Capital) as a Senior Vice President. Mr. Gygi holds a dual registration so while affiliating with Smoot Miller Cheney; he also was a registered rep with Independent broker/dealer WBB Securities, LLC. In 2008, Mr. Gygi left SMC Capital to found Gygi Capital Management as President and CEO. Gygi Capital serves the Institutional and individual marketplace with investment management solutions. Gygi Capital is a State regulated Registered Investment Advisory firm located in Cedar Hills, Utah. Gygi affiliates with Union Capital Co. which is an independent broker/dealer firm.Contact Gary at Gygi Capital Management: (801) 649-3879 Get full access to Breaking Battlegrounds at breakingbattlegrounds.substack.com/subscribe

As trade (hand-shake) deals get made, it is looking increasingly likely that the effective tariff rate is going to settle very close to the 22% rate initially announced on April 2. And yet, the global expansion looks resilient through 1H25. Is the shock just not that big? Is there more fundamental support for growth? Are businesses willing to smooth the shock over time? Are easy financial conditions short-circuiting the shock? Or is it just too soon, with the past flattered by front-loading and a sharp break still to come?   Speakers: Bruce Kasman Joseph Lupton   This podcast was recorded on 25 July 2025. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Brent and WTI volatility have reached their lowest levels since April, shifting from a bullish to a bearish put bias. As we look ahead to September, we expect a significant increase in volatility, driven by a convergence of both bullish and bearish factors that are set to take place during that month. Notably, Trump's 50-day ultimatum to Russia is set to expire on September 2, just a day before a new European price cap on Russian crude comes into effect on September 3. Additionally, snapback provisions on Iran could be triggered as early as September 1. Meanwhile, 600 kbd of additional summer demand in the Middle East will dissipate in September at exactly the same time as 4-5 mbd of global refining capacity shuts for fall maintenance.   Speaker:   Natasha Kaneva, Head of Global Commodities Research   This podcast was recorded on July 25, 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5036481-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Meera Chandan, Greg Fuzesi, Khagendra Gupta and Aditya Chordia discuss take-aways from the latest ECB meeting as well as expectations on the US-EU tariff negotiations for the outlook of European economy, rates and currency markets.    Speakers: Meera Chandan, Global FX Strategy  Greg Fuzesi, Economic & Policy Research  Khagendra Gupta, Rates Strategy  Aditya Chordia, Rates Strategy     This podcast was recorded on 25 July 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5034766-0, https://www.jpmm.com/research/content/GPS-5038613-0,  https://www.jpmm.com/research/content/GPS-5038418-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

In today's episode, I cover the various aspects of institutional accumulation as it pertains to shares of stocks, and how us as retail traders can spot it and react to it. I provide my best tips and tricks to using institutional accumulation to your advantage.Be sure to check out my Swing-Trading offering through SharePlanner that goes hand-in-hand with my podcast, offering all of the research, charts and technical analysis on the stock market and individual stocks, not to mention my personal watch-lists, reviews and regular updates on the most popular stocks, including the all-important big tech stocks. Check it out now at:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠https://www.shareplanner.com/premium-plans⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

In this episode, Charlie, co-founder of Bitlayer, shares how they are building a Bitcoin rollup and trust-minimized BVM bridge to unlock BTC liquidity for DeFi while maintaining Bitcoin-level security.Backed by Franklin Templeton and top mining pools like F2Pool, Bitlayer is enabling yield-bearing BTC (YBTC), partnerships with Sui and Solana, and preparing for the launch of its BTR governance token.If you're curious about Bitcoin's future beyond payments — from miner incentives to cross-chain DeFi — this episode is for you.Key Timestamps[00:00:00] Introduction: Sam introduces Charlie and Bitlayer's mission. [00:01:00] Charlie's Web3 story: From early Bitcoin and Ethereum to Polygon and Polkadot. [00:03:30] Why Bitcoin DeFi: Recognizing the need for scaling and security. [00:05:00] Bitlayer's mission: Building a BVM rollup and bridge for DeFi on Bitcoin. [00:07:00] Achieving Bitcoin DeFi: Unlocking BTC liquidity via a trust-minimized bridge. [00:09:00] Bridging innovation: How BVM improves on multisig and wrapped BTC. [00:11:00] Bitlayer vs sidechains: Why Bitcoin rollups are different. [00:14:00] Team strength: Engineering talent from Polygon, Celestia, and Alibaba. [00:15:00] Metrics: TVL milestones, daily transactions, and wallet growth. [00:18:00] Developer & user growth: Strategies to onboard devs and create retention. [00:20:00] Branding: F1-style “Bitcoin engine” culture.[00:21:00] Decentralization focus: Ensuring Bitcoin-level security. [00:23:00] Partnerships: Collaborations with Sui and upcoming Solana integrations. [00:25:00] Future vision: Bitcoin DeFi in 2 years — retail + institutional products. [00:26:30] Institutional adoption: Working with ETF issuers like Franklin Templeton. [00:28:00] The BTR token: Governance launch and upcoming campaigns. [00:30:00] Closing thoughts: Miner incentives and the next decade of Bitcoin utility.Connecthttps://www.bitlayer.org/https://x.com/BitlayerLabshttps://www.linkedin.com/in/charlieyechuanhu/https://x.com/CharlieHusatsDisclaimerNothing mentioned in this podcast is investment advice and please do your own research. Finally, it would mean a lot if you can leave a review of this podcast on Apple Podcasts or Spotify and share this podcast with a friend.Be a guest on the podcast or contact us - https://www.web3pod.xyz/

What happens when an emerging‑markets banker, lifelong Reddit degen, and early Ethereum believer builds a global crypto fund focused on AI? Meet Matthew “Matty” Graham, Managing Partner at Ryze Labs.Matty shares how a pizza post pulled him into Bitcoin, why the Ethereum whitepaper was his “drop everything” moment, and how Ryze helps founders reach 2B+ users across emerging markets through its “global + local” team model.We dig into the big ideas: AI agents as economic actors that must transact on open, programmable ledgers; stablecoins as the clearest current use case; why meme speculation crowds out real adoption; and why every startup should obsess over its first 5–7 real super fans (not airdrop farmers).We also hit culture clashes (AI vs crypto), institutional entry, tech history, data privacy (your ChatGPT logs are more revealing than your Google search history), and what Matty would do if launching Ryze today.Not investment advice.Key Timestamps[00:00:00] Introduction: Sam tees up Ryze Labs, AI + crypto, and future signals. [00:01:00] Origin story: Reddit pizza, early Bitcoin, failed 2013 banker pitch, curiosity grows. [00:02:30] Ethereum moment: Programmable money snaps it wide open for Matty. [00:04:00] Banker to degen: Emerging markets + appetite for the “wild west.” [00:05:00] What is Ryze Labs: Global fund with local experts across key emerging markets. [00:06:30] Why AI + crypto: Digital agents will transact value; legacy rails can't scale. [00:08:00] Real PMFs so far: Stablecoins & thinly disguised gambling; AI could be next. [00:09:30] Stablecoin utility: Paying global teams when Stripe/PayPal fail. [00:10:30] Tech history lens: Hardware waves unlock software waves; AI feels similar. [00:12:00] Data intensity: You'd leak Google history before ChatGPT chats — privacy matters. [00:14:00] AI for health: Matty's coffee/acid anecdote shows practical value already. [00:16:30] Work futures: New roles (prompt skill!), humans reorganize around tech. [00:21:00] Super fans first: 5–7 paying evangelists > vanity metrics. [00:23:00] Incentive traps: Points & airdrops mask real product‑market fit. [00:25:00] Trends check: Utility underhyped; meme/points meta overweight. [00:26:30] Institutional adoption: East‑coast style (ETFs) vs tech‑driven engagement. [00:29:00] If starting today: Split team across AI hubs (SF, Hangzhou) + emerging market depth. [00:30:00] The ask: Best‑in‑class AI+crypto builders & top engineers — DM @MattyRyze.Connecthttps://ryzelabs.io/https://x.com/RyzeLabshttps://ky.linkedin.com/company/ryzelabshttps://x.com/mattyryzeDisclaimerNothing mentioned in this podcast is investment advice and please do your own research. Finally, it would mean a lot if you can leave a review of this podcast on Apple Podcasts or Spotify and share this podcast with a friend.Be a guest on the podcast or contact us - https://www.web3pod.xyz/

Stephan and Cory discuss the current trends in Bitcoin and cryptocurrency, focusing on the dynamics of altcoins, the emergence of treasury companies, and the implications of regulatory changes. They explore the long-term outlook for Bitcoin, the role of mining companies, and the potential for institutional adoption. The discussion emphasizes the importance of understanding the market landscape and the various strategies for investing in Bitcoin and related assets.Takeaways

In this episode, Jerry Bradshaw and Dr. Stewart Hilliard discuss: The influence of European sport dogs in early North American working dog training. Benefits and challenges of introducing KNPV-trained dogs to the American market. Evolution of Eastern European working dog trade.  Sourcing and importing working dogs. Institutional breeding programs, increased costs, and decreased quality. The future of dog training with kynology.   Key Takeaways: KNPV (Royal Dutch Police Dog Association) dogs were the gold standard for transitioning sport dogs to dual-purpose police dog prospects.  KNPV dogs were not trained to distinguish between equipment and humans, which gave those early Malinois dogs a bad reputation. Dogs that come from a deprived background with limited experiences often need to be deprogrammed before they can be taught to forget, then taught to learn what they need to know. Don't kill your dog by playing with it. The dog's reward is not a toy; it's a reward. Toy implies play, and these are working dogs. Malinois and German Shepherd dogs are not fully adult dogs until 2.5-3. Younger dogs are more vulnerable to mistakes and stress, leaving you, as the trainer, with the technical burden of not making many mistakes.   "I think the future is going to be agency-based breeding, heavily informed by scientific practice, but also with strong participation of practitioners - practical dog people who know how to produce results. Those are the agencies that are going to do really well." —  Dr. Stewart Hilliard   Contact Stewart:  Website: https://www.caninetrainingsystems.com/  Book:  Schutzhund, Theory and Training Methods - A Book by Susan Barwig and Stewart Hilliard, Ph.D. - https://www.caninetrainingsystems.com/product/B-SCH-BAR/Schutzhund-Theory-and-Training-Methods-A-Book-by-Susan-Barwig-and-Stewart-Hilliard-PhD    Get Jerry's book Controlled Aggression on Amazon.com   Contact Jerry: Website: controlledaggressionpodcast.com Email: JBradshaw@TarheelCanine.com Tarheel Canine Training: www.tarheelcanine.com YouTube:  tarheelcanine Twitter: @tarheelcanine Instagram: @tarheelk9 Facebook: TarheelCanineTraining Protection Sports Website: psak9-as.org Patreon: patreon.com/controlledaggression Slideshare: Tarheel Canine Calendly: https://calendly.com/tarheelcanine  Tarheel Canine Seminars: https://streetreadyk9.com/  Tarheel Canine Student Portal: https://tcstudentportal.com/    Sponsors:  ALM K9 Equipment: almk9equipment.com PSA & American Schutzhund: psak9-as.org Tarheel Canine: tarheelcanine.com The Drive Company: https://thedriveco.com/  The Drive Company Instagram: https://www.instagram.com/thedrive.co    Find out more about Hold The Line Conference 2024 at https://htlk9.com/    Train hard, train smart, be safe.   Show notes by Podcastologist Chelsea Taylor-Sturkie   Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it. 

In this conversation, Stephan Livera and Fernando Nikolic discuss the evolving narratives surrounding Bitcoin, the fragmentation of its community, and the role of media in shaping public perception. They explore the differences between institutional and retail adoption, the importance of cultural moments, and Blockstream's innovations in the Bitcoin space. The discussion highlights the challenges and opportunities for Bitcoin as it continues to grow and adapt in a rapidly changing landscape.Takeaways

*Content warning: distressing topics, child abuse, death, child sex abuse, psychological and physical violence of children, cultic abuse, Institutional child abuse, ‘troubled teen industry', TTI, suicidal ideation, murder.  Season 24 of Something Was Wrong shares the harrowing truths of international Institutional Child Abuse (often called the ‘troubled teen industry') through powerful interviews with survivors of wilderness therapy programs, therapeutic boarding schools, and other institutions around the world.  These firsthand accounts expose an alarming pattern of abuse, neglect, and trauma disguised as treatment, alongside testimony from parents who entrusted these programs with their children. With expert insights from leading voices in the children's rights advocacy space and adolescent mental health, Season 24 explores how programs have operated in the shadows for decades and why their harmful practices continue today.  *Free + Confidential Resources + Safety Tips:  somethingwaswrong.com/resources    *Sources: Former student at Utah school for troubled teens backs claims of abuse made by Paris Hilton, FOX13, News Utah https://www.youtube.com/watch?v=_CSYxaQq8OE  Trails Carolina camper's death ruled a homicide, FOX8 WGHP https://www.youtube.com/watch?v=rm97SeyZ8xg  Troubled teen school facing lawsuit over employee's alleged sexual misconduct, ABC4 Utah  https://www.youtube.com/watch?v=6CD0a1PdiQU  Five Facts About the Troubled Teen Industry, American Bar Association  https://www.americanbar.org/groups/litigation/resources/newsletters/childrens-rights/five-facts-about-troubled-teen-industry/   What You Need to Know About the Troubled Teen Industry, The Law Offices of Lisa Kane Brown https://lisakanebrown.com/what-you-need-to-know-about-the-troubled-teen-industry  *SWW S23 Theme Song & Artwork:  Glad Rags: https://www.gladragsmusic.com/  The S24 cover art is by the Amazing Sara Stewart Follow Something Was Wrong: Website: somethingwaswrong.com  IG: instagram.com/somethingwaswrongpodcast TikTok: tiktok.com/@somethingwaswrongpodcast  Follow Tiffany Reese: Website: tiffanyreese.me  IG: instagram.com/lookieboo