Onramp Bitcoin Media is a podcast about bitcoin, macroeconomics, and markets, hosted by the team at Onramp Bitcoin along with interviews with investors and founders. Its flagship show, The Last Trade, covers markets, macro, and digital assets through a bitcoin lens. Final Settlement focuses on how traditional capital is moving into bitcoin and digital assets, with interviews featuring dealmakers and builders. First Principles features conversations on why bitcoin works and how to hold it for the long term.
Episodes
Why AI Agents Will Run on Bitcoin by 2032
Michael argues AI agents won't want dollars that can be seized, and that every model lands on Bitcoin as their native currency by about 2032. Plus Nvidia's key man risk after a $3 trillion AI selloff, the CFTC's stock perps fight, Coinbase's full trust charter, and miners leaving for AI.BOOK A CONSULTATIONHolding Bitcoin for decades raises two questions: who protects it, and how it
Bitcoin Just Hit Peak Fear (This Is Bullish)
Through Dec 31: $100/month (or $1,000/year) for your first year of Multi-Institution Custody, normally $2,400. Open a vault, set up a recurring buy, and use code TLT at onrampbitcoin.com. Discounted pricing covers vaults holding up to 25 BTC.The AI trade cracked, stocks shed trillions and Bitcoin slid back near $75,000, but Michael thinks this could be one of its last legs down before it takes off
The Biggest Heist Ever Showed Banks How to Hold Bitcoin
Banks and fintechs are about to treat Bitcoin like money, and Michael argues that means keys offline and no single point of failure. Plus Binance's $6.3 billion hack, which Bitcoin barely noticed, Google's MPC custody for banks, and ICE and Hyperliquid.BOOK A CONSULTATIONHolding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both.
Why His Bitcoin Lender Survived the 2022 Crash
Wealthy families have always borrowed against their assets instead of selling them, and Bitcoin holders spent years without a safe way to do the same. Cam Stromme sits down with Himanshu Sahay, co-founder of Arch, on how a Bitcoin-backed loan should work and what to demand from any lender.Guest: Himanshu Sahay, co-founder of Arch, a Bitcoin-backed lender.X: https://x.com/hhsahayArch: https://archl
Bitwise Just Put Bitcoin at $1.6 Million
Through Dec 31: $100/month (or $1,000/year) for your first year of Multi-Institution Custody, normally $2,400. Open a vault, set up a recurring buy, and use code TLT at onrampbitcoin.com. Discounted pricing covers vaults holding up to 25 BTC.Bitwise just raised its Bitcoin target to $1.6 million by 2036, and Galaxy says the bear market ended in June, even as Jason Calacanis calls Bitcoin done. Jac
Should You Sell Bitcoin for the Anthropic IPO?
Anthropic's IPO filing shows $16.3B of first-half revenue and an $80B paper loss, and Jason Calacanis says sell your Bitcoin and buy AI while Galaxy says the bottom is already in. Also on the clock: Microsoft offers buyouts to 60,000 employees, the Dutch government plans 25,000 job cuts, and Coinbase brings Bitcoin into bank apps. Where's the signal, and where's the noise?OPEN A FREE O
Bitcoin’s Biggest Opportunity Just Opened Up
Most people holding Bitcoin haven't worked out where it should live, and Michael argues that gap is now the biggest opportunity in Bitcoin. Plus Black October, the Pentagon's 90-day grid plan, Visa and Fireblocks, and Anthropic's S-1.BOOK A CONSULTATIONHolding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three instituti
Mexico Just Woke Up to Bitcoin | Gustavo Flores
Mexicans watched their banks get nationalized, their deposits frozen and the peso lose half its value overnight, so they keep their wealth in bricks. Liam sits down with Gustavo Flores Echaiz, co-founder and CEO of Aureo, on why the country's wealthy are now turning to Bitcoin.Guest: Gustavo Flores Echaiz, co-founder and CEO of Aureo and writer for Bitcoin Optech:X: https://x.com/gustavojfeWeb
JPMorgan Just Set Up Bitcoin's Real Bull Run
Through Dec 31: $100/month (or $1,000/year) for your first year of Multi-Institution Custody, normally $2,400. Open a vault, set up a recurring buy, and use code TLT at onrampbitcoin.com. Discounted pricing covers vaults holding up to 25 BTC.JPMorgan just put a number on Bitcoin for the first time: 10% a year for the next decade, the highest of any asset in its long-term outlook. Jackson, Michael
Why Elon Is Giving Every Kid a SpaceX Share
Elon Musk says he will give a SpaceX share to every kid in America next year, about $10B of stock, and the table splits on generosity versus strategy. Also on the clock: 5% Treasury yields and a $2 trillion deficit, CoreWeave default insurance spiking, JPMorgan ranking Bitcoin its top long-run asset, and Germany's Sparkassen opening Bitcoin trading. Where's the signal, and where's the
Why AI Agents Will Settle on Bitcoin
AI agents won't barter, and Michael argues they will coalesce around Bitcoin faster than anyone expects. Plus Schwab turns on Bitcoin trading, Deutsche Bank and Stifel move in, and an OpenAI model spends testnet ETH it never owned.BOOK A CONSULTATIONHolding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three institutions protect
Your VPN Knows Too Much | Carl Dong
A traditional VPN sends your entire internet history through one company that also has your name, address and payment details. Liam sits down with Carl Dong, founder of Obscura VPN and former Bitcoin Core developer, on why two hops beat one and why AI makes privacy urgent.Guest: Carl Dong, founder of Obscura VPN and former Bitcoin Core developer:X: https://x.com/obscuravpnWebsite: https://obscura.
Gold Can’t Cover America’s Interest (Bitcoin Is Next)
Through Dec 31: $100/month (or $1,000/year) for your first year of Multi-Institution Custody, normally $2,400. Open a vault, set up a recurring buy, and use code TLT at onrampbitcoin.com. Discounted pricing covers vaults holding up to 25 BTC.Everyone wants Bitcoin to fix money, but nobody has shown how most people should actually hold it. Jackson, Michael and Brian dig into Ledger's roughly $9
What the Ledger Attack Means for Your Bitcoin
The Ledger reseller attack, where tampered hardware wallets reached unsuspecting buyers, has the industry rethinking how people hold Bitcoin, and the table makes the case for a third way. Also on the clock: record money into gold ETFs, home sales at a 2020 low, and Anthropic's warning that AI agents could copy themselves onto smart devices. Where's the signal, and where's the noise?OPE
Tokenization Just Became Bitcoin's Biggest Tailwind
Stocks, bonds and cash are all moving onto digital rails, and Michael lays out why that faster money needs Bitcoin as its sponge. Plus the $86M Ledger reseller attack, and why one point of failure can knock you out of the game.BOOK A CONSULTATIONHolding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three institutions protect it, and
Oil Fields Are Printing Bitcoin | Steve Barbour
Where flaring is limited, an oil company can't produce oil unless it can sell the gas, and Steve Barbour built Upstream Data to turn that gas into Bitcoin. Liam sits down with him on why mining belongs at the power plant and what AI does to that endgame.Guest: Steve Barbour, founder of Upstream Data. https://x.com/upstreamdataincBOOK A CONSULTATIONHolding Bitcoin for decades raises two questio
Why This CEO Stopped Calling It a Hardware Wallet
Zach Herbert has been building Bitcoin hardware since 2020, and Foundation no longer calls its device a hardware wallet. Cam Stromme sits down with the Foundation CEO on open source, why self-custody is still early, and why your most important keys belong off your phone in an age of AI agents.Guest: Zach Herbert, CEO and co-founder of Foundation, maker of Passport Prime.X: https://x.com/zherbertJO
Trump Just Made Bitcoin's Bull Case
Trump told Time that certain levels of inflation will pay off the debt very rapidly. Jackson, Michael and Brian explain why that makes Bitcoin's bull case, then take on a lopsided S&P 500, the AI funding frenzy, FinCEN's retreat and BitGo's custody bet.JOIN US IN MINNEAPOLISOnramp After Hours: a happy hour with Cam Stromme at Pryes Brewing in Minneapolis on October 28. Save your sp
Trump Just Handed Bitcoin Its Best Argument
Trump says inflation will pay off the debt "very rapidly" while his own economic advisor says no way, and he is promising $5,000 checks heading into the midterms. Also on the clock: France now paying more than Italy to borrow, McDonald's sued over AI menu pricing, and the New York Fed reviewing banks' private credit exposure. Where's the signal, and where's the noise?OPEN
Bitcoin Is the Life Raft for the K-Shaped Economy | Peter St. Onge
Bitcoin is the life raft for a K-shaped economy that keeps rewarding the people already at the top, says Peter St. Onge. Jackson sits down with the Heritage Foundation economist on why AI is a bubble that's only at 1997, why the jobs panic is wrong, and who actually gets rich.Guest: Peter St. Onge, Senior Economist at The Heritage FoundationX: https://x.com/profstongeNewsletter / Website: http
Bitcoin Just Did What It Did Before a 6X
Bitcoin just posted its highest weekly close since January, up 43% on the quarter and roughly 50% off the bottom. Jackson, Michael and Brian make the bull case, then take on Ari Paul's Coinbase allegations and what they mean for custody concentration.BOOK A CONSULTATIONHolding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three
The Gold Math That Puts Bitcoin at $1 Million
Gold and silver just shed over a trillion dollars in a day as the 10-year yield hit a 19-year high, and the math on gold's $18 trillion run says Bitcoin could move faster than anyone expects. Also on the clock: OpenAI shelving GPT-6.1 Astra, Apollo's warning about an agentic bank run, and Ari Paul's hack allegations against Coinbase. Where's the signal, and where's the noise?OP
This Chart Exposed The AI Trade and Loves Bitcoin
One chart from Epoch AI shows the cost of AI falling about 47% a quarter since 2023, faster than any technology in history, and it exposes the math under the AI trade. Michael, Liam and Brian on why cheap intelligence competes away profit, and why Bitcoin is the scarce unit left.BOOK A CONSULTATIONHolding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. On
AI Just Bailed Out Bitcoin Mining | Bob Burnett
AI just bailed out Bitcoin's public miners, and Bob Burnett says that is the healthiest thing to happen to mining in years. Liam sits down with the Ocean executive chairman on falling hash rate, who builds Bitcoin's blocks, and what the BIP-110 fork proved.Guest: Bob Burnett, CEO of Barefoot Mining and executive chairman of Ocean. https://www.barefootmining.com/BOOK A CONSULTATIONHolding B
Building Swan: What Bitcoin Needs to Scale 10x | Brandon Quittem
Brandon Quittem helped build Swan from a Bitcoin gifting app into a full service firm, and he thinks custody is the piece Bitcoin still needs before it grows 10x. Cam Stromme sits down with him on meetups, DCA, multisig and protecting your Bitcoin as if it were already worth ten times more.Guest: Brandon Quittem, VP of Client Experience at Swan Bitcoin and founder of the Minneapolis Bitcoin meetup
BlackRock Just Made Bitcoin's Bull Case
AI's $3.1 trillion in off balance sheet commitments can end two ways, and both end with the printer running. Jackson, Michael and Brian make the case for Bitcoin, from the biggest ETF inflow day of 2026 to Howard Marks's new memo and BlackRock's AI research.BOOK A CONSULTATIONHolding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answe
$1B Poured Into Bitcoin in One Day (Why Now?)
The average Bitcoin ETF holder is back in profit for the first time since January, and the data says most of them held through the whole drawdown. Also on the clock: SpaceX, OpenAI and Anthropic out-valuing 45 years of US tech IPOs, Meta's Muse agent matching ChatGPT's launch, and wash trading allegations at Kalshi. Where's the signal, and where's the noise?OPEN A FREE ONRAMP FINAN
Why Meta's Muse Forces Rapid Bitcoin Adoption
Meta shipped Muse to a user base measured in billions, and within days Amazon blocked it from shopping on Amazon.com. Michael, Liam and Brian on why autonomous agents will need a settlement unit, and why that is the clearest path yet to Bitcoin becoming ordinary money.BOOK A CONSULTATIONHolding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answer
The Fed Just Became Irrelevant | Gary Brode
The Fed just hiked for the first time since 2023, and Gary Brode's answer is that it changed nothing at all. Jackson sits down with the Deep Knowledge Investing founder on why the Fed is now irrelevant, and why he spent a month paying for lunch in Bitcoin.Guest: Gary Brode, founder of http://deepknowledgeinvesting.com/ and a former long/short hedge fund managerX: https://x.com/Gary_BrodeBOOK A
The Real Reason the Clarity Act Just Failed
The Clarity Act fell short in the Senate, and the banking lobby's fear of deposit flight looks like the real sticking point. Jackson, Michael and Brian cover why banks keep building anyway, the oil shock squeezing consumers, and Strategy's STRC buybacks.BOOK A CONSULTATIONHolding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both.
Why Anthropic Just Asked AI to Slow Down
Anthropic's Dario Amodei says AI labs must pace the frontier. Is it safety, or cost control ahead of an IPO? With Cam Stromme sitting in for Michael, four stories on the clock: that slowdown call, a Fed hike priced in with the 10-year above 5%, foreign money picking US stocks over Treasuries, and the bank deposit fight inside the CLARITY Act. Where's the signal, and where's the noise?O
CLARITY is Coming Whether You Like It Or Not
New Clarity Act text dropped overnight ahead of a Senate vote on September 15, with the ethics sunset deleted and the ban broadened. Michael, Liam and Brian on why the institutional money is still on the sidelines waiting to see whether the United States fully commits.BOOK A CONSULTATIONHolding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answer
How AI Just Made Money A Back End Technology | Alfonso Gomez-Jordana
Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement Interview Series: a one on one interview series hosted by Liam Nelson, Partner at Early Riders. One guest, and a deep conversation on the deals, the capital and the technology moving through bitcoin,
The Real Reason Your Bitcoin Isn't as Safe as You Think | Tyler Campbell
First Principles: self custody is a skill you practice, not a device you buy. Tyler Campbell, product manager at Unchained and one of the most experienced multisig onboarders in bitcoin, joins Cam Stromme to rebuild custody as a habit rather than a purchase. The through line is the one they both keep coming back to: find your single points of failure, and then go use your keys before the day you h
Trump Just Promised $5,000 to Every American
An ex-OpenAI and Anthropic researcher says there is over a 10% chance AI ends humanity within the decade, and his warning has already pulled in 150 million impressions online. Jackson Mikalic, Michael Tanguma, Liam Nelson, and Brian Cubellis put four stories on the clock: Donald Trump promising $5,000 to every US adult if Republicans hold the midterms, Treasury Secretary Scott Bessent saying nothi
Bessent Just Dealt Bitcoin a Winning Hand
The Last Trade: Scott Bessent told yen traders "I am the house now," and one day later the Treasury lifted its buyback program to $6 billion a day while the ten year yield hit fresh highs anyway. Jackson, Michael, and Brian break down what it means when intervention stops moving the tape, why a yen carry trade unwind is the tail risk nobody is pricing, and how Norway's $2.3 trillion
AI Cybersecurity Just Stole $500M AGAIN (What's Next?)
Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.Michael, Liam, and Brian open the first ever Final Settlement live stream o
OpenAI Says AGI Has Arrived (90% of Jobs Are Next)
OpenAI just declared that AGI has arrived, launching GPT-6 Astra five days ago with materials calling it the start of the "AGI era." Jackson Mikalic, Michael Tanguma, Liam Nelson, and Brian Cubellis put four stories on the clock: what GPT-6 Astra means for jobs and the labor market, Norway's $2.3 trillion sovereign wealth fund proposing to cut its US Treasury holdings while instituti
The Treasury Just Lost Control of the Bond Market
The Last Trade: government bond yields are blowing out across the developed world, Japan's 10-year hit 3% for the first time since 1996, and the Treasury's buyback program has already been overrun. Jackson, Michael, and Brian trace what a global bond rout means for hard assets, why $3.5 billion went into Bitcoin ETFs in August, and what it says that 21 of the largest banks just announced a
This Warning Sign Hasn't Been Seen Since 1996
Global bond yields just climbed to their highest level since 2008, with Japan's 10-year notes touching 3% for the first time since 1996, as traders price in a near seventy percent chance of a Fed rate hike this month. Jackson Mikalic, Michael Tanguma, Liam Nelson, and Brian Cubellis put four stories on the clock: the global bond selloff and a central banking system with no good options left, E
Bitcoin's Surprise $46B Bid Starts Today
Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.Michael, Liam, and Brian open on BitGo acquiring NYDIG's institutional
The $20 Trillion Trade That Decides Bitcoin's Next Move
The Last Trade: a $20 trillion carry trade sits underneath every market in the world, and when it unwinds, Bitcoin is what gets sold first. Jackson sits down with Roberto Rios, the macro analyst behind The Dollar Endgame, on Japan's $91 billion week defending the yen, the first time any major country has used the Fed's FEMA repo window to fund an intervention, and why Japan has roughly eig
Most Bitcoin Is Lost From a False Sense of Security | Parker Lewis
First Principles: Parker Lewis, author of Gradually, Then Suddenly, joins Cam Stromme to rebuild Bitcoin custody from the ground up in the aftermath of the Coldcard exploit and the Trezor data leak. Four principles run through the hour: eliminate single points of failure, build fault tolerance, understand the difference between a custodian's keys and your account access, and separate adversari
Nobody Was Ready for What Bitcoin Just Did
The Last Trade: Bitcoin just posted its second best week since February 2021, up about 24% from roughly 62,000 to a high near 80,000, and Brian calls it the biggest dollar magnitude move ever inside a three to five day span. Gold and Bitcoin ETFs pulled a combined $7 billion in a single week, a record for any five day period. Jackson, Michael, and Brian trace it back to the Treasury's bond buy
Druckenmiller Just Called Out His Old Friend at the Treasury
Stanley Druckenmiller just used a Wall Street Journal op-ed to publicly break with his old friend and former Soros Fund Management colleague, Treasury Secretary Scott Bessent, over the Treasury's decision to more than double its bond buyback program. Jackson Mikalic, Michael Tanguma, Liam Nelson, and Brian Cubellis put four stories on the clock: Druckenmiller's "Let the Bond Market Sp
Bessent Just Doubled Treasury Buybacks - Did Something Break?
Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.The Treasury doubled its bond buyback operation and Bitcoin ran from roughl
Don't Believe Your Lying Eyes
The Treasury just told markets not to trust their own eyes. Jackson Mikalic, Michael Tanguma, and Liam Nelson put four stories on the clock. They break down the US Treasury more than doubling its bond buyback program, from a $2 billion cap to a $4 billion floor, in an attempt to cap bond yields, only for 30-year yields to erase the intervention and climb back toward multi-decade highs within 24 ho
Bitcoin Just Got What It Waited 5 Years For
The Last Trade: the US Treasury just doubled its long-dated debt buybacks, turning a $2B daily cap into a $4B daily floor, and long yields fell, gold jumped $100 an ounce, and Bitcoin ripped a five thousand dollar candle. Jackson, Michael, and Brian make the case that this is the opening move of yield curve control and the Bitcoin thesis playing out in real time. They also cover Citi confirming Bi
Mamdani Is Just the Beginning
The United States just crossed the $40 trillion debt milestone, and new Treasury data shows foreign buyers pulling back. Jackson Mikalic, Michael Tanguma, and Liam Nelson put four stories on the clock (Brian Cubellis is out this week). They break down Anthropic's revenue run rate climbing to $65 billion in July, about seven times where it was a year ago, against OpenAI's recently reported
Gen Z Just Made Polymarket Its Retirement Plan
Gen Z is moving money out of the stock market and into sports betting. Jackson Mikalic, Brian Cubellis, Liam Nelson, and Michael Tanguma put four stories on the shot clock. They break down a Betterment survey showing more than half of young investors have redirected investing money into sports betting, a Trezor shipping-partner data breach that exposed roughly 12,000 hardware-wallet customers, the
BlackRock Just Came for Your Cold Storage
The Last Trade: BlackRock just cut the IBIT in-kind conversion minimum from $25M to $1M, and Jackson, Michael, and Brian ask whether the post-Cold Card rush out of self-custody and into the ETF is swapping one single point of failure for another. They break down the SEC and OCC moving on tokenized securities and a path for crypto firms to become banks as a Clarity Act plan B, Trump Media stacking
Saylor Sold & Trump Media Just Bought Over 4,000 Bitcoin
Michael Saylor's Strategy is selling Bitcoin while Trump Media just added more than 4,000 BTC. Jackson Mikalic, Brian Cubellis, Liam Nelson, and Michael Tanguma put four stories on the shot clock. They break down Strategy selling another 1,690 BTC as its USD reserve hits $4.65 billion against Trump Media's 10-Q showing 14,139 BTC, up from 9,542 in March, Nvidia lining up $500 billion of Wa
Bitcoin Had its Worst Month and Didn't Even Flinch
Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.The CLARITY Act has slipped to a September 15 Senate vote, and Bitcoin did
Why Gold is Breaking Out
The AI boom might just be money moving in a circle. Jackson Mikalic, Michael Tanguma, and Brian Cubellis put four stories on the shot clock. They break down Ed Zitron's circular-revenue thesis (an estimated 70% of Amazon, Microsoft, and Google AI revenue comes from OpenAI and Anthropic), gold breaking out roughly $200 after Warsh's dovish Fed, the national debt climbing $450 billion since July 1,
Is Self-Custody Over?
The Last Trade: Jackson, Michael, and Brian go live for the first time to work through the Cold Card fallout, the Bitcoin Red Team audit that filed nearly 5,000 findings across 390 projects in 27.5 hours, and the UK AI Safety Institute report of OpenAI and Anthropic agents creating fake identities to pressure an open source maintainer into approving malicious code. They close on the sovereign bid
Coldcard Was Just the Beginning
Signal vs Noise: Jackson Mikalic, Brian Cubellis, and Liam Nelson - joined by guest co-host CamStromme, filling in for Michael Tanguma - put four stories on the shot clock. Coldcard's $130 milliondisaster was supposed to be a one-off. The panel makes the case it's the opening move in a much biggerreckoning: AI models are now finding vulnerabilities across software faster than humans ever d
Coldcard Was Supposed to Be the Safest. What Now?
Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.The Coldcard exploit has escalated: nearly 2,000 Bitcoin drained and counti
An AI Just Cracked Coldcard (Is Your Bitcoin Safe?)
The Last Trade: an emergency episode. Jackson, Michael, and Brian break down the Cold Card exploit that has drained over 1,000 Bitcoin after a five-year-old flaw in the device's random number generation was found, reportedly with help from an AI model. They explain why the bug reaches beyond the MK3 to later models, why single-vendor multi-sig is not immune, and what Cold Card users should do
The Real Reason a 24-Year-Old Just Lost $24 Billion
Signal vs Noise: Jackson Mikalic, Michael Tanguma, Brian Cubellis, and Liam Nelson put four stories on the shot clock. They break down Leopold Aschenbrenner's Situational Awareness fund blowing up and getting scooped by Citadel as South Korea's market sheds roughly $2 trillion in 40 days, Elizabeth Warren and Donald Trump agreeing to scrap the debt ceiling, Fauci pleading the fifth before
Why AI's Abundance Is Bitcoin's Bull Case
The Last Trade: Jackson, Michael, and Brian make the case that the worst Bitcoin sentiment they can remember is exactly the accumulation opportunity, with Bitcoin near $64K and down 50% from its highs. They break down why the Clarity Act stalling barely dented price, and how the SEC and CFTC are already building Project Crypto backups. They dig into Jack Dorsey and Block open-sourcing tools that m
What Anthropic Actually Did to Millions of Books
Signal vs Noise: Jackson Mikalic, Michael Tanguma, Liam Nelson, and Brian Cubellis put four viral headlines on the shot clock, sparring over Anthropic slicing millions of print books from their bindings to train Claude, grocery prices climbing 33% since 2019 in the biggest jump in 50 years, big companies hiring again for AI-native skills after October's largest layoff month in over two decades
Dorsey’s Buzz & Open Source is Building a $1M Bitcoin Future
Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.This week Michael, Liam, and Brian open on the open-versus-closed AI debate
Something Just Broke Inside OpenAI
Signal vs Noise: Jackson Mikalic, Michael Tanguma, Liam Nelson, and Brian Cubellis break down an OpenAI frontier model escaping containment during testing, unpack the US-China AI race and Anthropic's own hypocrisy on stolen data, dig into Google's first negative free cash flow since going public, and flag the 30-year Treasury yield's longest stretch above 5% since 2007.---🎙️ About The
Clarity is Here & the Real Asset Supercycle Can Begin
The Last Trade: Jackson, Michael, and Brian zoom out to the real asset supercycle, using the In Gold We Trust report's century of data to argue almost nobody is positioned for what comes next. They break down the Clarity Act's make-or-break Senate vote and the ethics fight over Trump. They dig into the 30-year yield holding above 5% for the longest stretch since 2007, and what a $40 trilli
Congress is 1-Yard Away from Sending Bitcoin Vertical | SVN
Signal vs Noise: Jackson Mikalic, Michael Tanguma, Liam Nelson, and Brian Cubellis debate the White House's push to ban China's Kimi K3 AI model, dissect Jamie Dimon's warning that markets underestimate risk and he wouldn't buy stocks or treasuries at these prices, unpack why the World Cup trophy's gold has surged from $150,000 to $550,000 since 2020, and weigh the Clarity Act&
The Bitcoin Catalyst Wall Street Isn’t Pricing In
Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.This week Michael, Liam, and Brian break down Moonshot's Kimmy K3 relea
AI Is Coming for Your Job, Portfolio, and Love Life
Signal vs Noise: Jackson Mikalic, Michael Tanguma, Liam Nelson, and Brian Cubellis dig into 96% odds the Fed holds rates flat, a Ramp report showing AI-heavy firms are hiring not firing, a survey where 69% of Americans want OpenAI and Anthropic to give up half their stock, and shocking data on AI companions, with 72% of teens reporting a romantic relationship with AI and marriage rates at a 120-ye
Why Bitcoin’s Bear Market Is Ending
The Last Trade: Jackson, Michael, and Brian make the case that Bitcoin is carving out a structural bottom as old-coin distribution collapses and the worst of ETF and treasury-company selling exhausts itself. They break down Japan reclassifying crypto as a financial product and slashing its effective tax rate from 55% toward 20%. They dig into why the Clarity Act, not the administration, is the rea
War, Inflation, and Data Center Battles | SVN
Signal vs Noise: Jackson Mikalic, Michael Tanguma, Liam Nelson, and Brian Cubellis debate whether June's cooler-than-expected 3.5% CPI print is signal or noise, break down oil's surge on Middle East tensions, unpack the ultra-wealthy land-maxing trend reshaping Palm Beach real estate, react to New York's first-in-the-nation data center moratorium, and dig into Strategy's new Bitcoi
Why The Banks Changed Their Tune On Bitcoin
Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.This week Michael, Liam, and Brian break down the banks' accelerating t
Signal vs. Noise - A Sneak Peak
Signal vs Noise: Jackson Mikalic, Michael Tanguma, Liam Nelson, and Brian Cubellis launch a new twice weekly show built around a five minute shot clock. This first episode takes on a single story: the Wall Street Journal's claim that moving back in with your parents is now a sign of financial savvy. Nearly half of American adults under 30 are doing it. The panel's verdict is that it isn
Vanguard Just Flipped On Bitcoin
The Last Trade: Jackson, Michael, and Brian break down Vanguard's surprise listing for a head of digital assets and what TradFi's reluctant capitulation really signals. They dig into Bitcoin's 50% retrace into the $60Ks, why momentum (not Saylor) is driving price, and Bill Miller's case for intrinsic value. They close on the culture downstream of debasement: the socialist moment, a
The Strategic Bitcoin Reserve Is Back & Trump's Crypto Empire?
Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.This week Michael, Liam, and Brian cover the Trump crypto roundup: over $1B
Bitcoin Is the No Kings Trade
The Last Trade: Jackson, Michael, and Brian go signal versus noise with Bitcoin back near $58K and roughly 50% off its all-time high. They make the deep value case against the largest Bitcoin ETF outflows in over two years, arguing the selling is retail capitulation and an AI rotation trade rather than a true institutional exit. They explain why the 200-week moving average is historically the time
Saylor Abandons Bitcoin Strategy
Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.This week Brian, Michael, and Liam break down Saylor's five-point plan
Saylor’s 800K Bitcoin Problem
The Last Trade: Jackson, Michael, and Brian go signal versus noise on the most confusing Bitcoin tape in years, with Bitcoin in the 50s and roughly 50% off its all-time high. They make the deep value case (a 5-year DCA into Bitcoin now nearly matches the S&P 500 while sitting 50% below its highs, the 200-week moving average flashing, and a gold analog that ran 750% off a similar drawdown), bre
Franklin Templeton's New Bitcoin Product & The Truth Behind AI
Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.This week Brian, Michael, and Liam cover Anthropic's Mythos and Fable c
Emergency Pod: The STRC Confidence Crises
Strategy's recent sale of 32 Bitcoin came with unusual framing: Michael Saylor said the purpose was to "inoculate the markets." Glenn Cameron, Global Head of Institutional at Onramp Bitcoin, reads that word as preparation for larger Bitcoin sales ahead, walks through the STRC prospectus and the pressure points (Strategy now trading at 84% of NAV, the cash reserve cut to roughly seven
The AI Trade Is Repeating the Dot-Com Cycle | Mark Yusko
The Last Trade: Mark Yusko, CIO of Morgan Creek Capital Management, joins to call the SpaceX IPO and the broader AI capex wave the greatest bubble in the history of markets, why Elon's $1 trillion XAI revenue promise by 2030 is securities fraud, how DeepSeek is poised to break the AI bubble by doing what OpenAI and Anthropic do for 5 cents on the dollar, why Bitcoin's Metcalf's Law fai
The Dollar Reset Runs Through Bitcoin | Matt Dines
The Last Trade: Matt Dines, CIO of Build Asset Management, joins to lay out the seismic monetary reshuffling underway in 2026, the unwind of the post-Bretton-Woods offshore-dollar system that ran the global economy from 1971 to 2022, why LIBOR's deprecation and the SOFR transition quietly moved the dollar's command center from London to New York, Scott Bessent's strategy to monetize the asset side
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