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Presented collaboratively by Early Riders & Onramp Media…

Final Settlement is a weekly podcast covering the underlying mechanics of the bitcoin protocol, its ongoing development and funding, and real-world applications of the technology.

00:00 - Government Intervention in Private Sector

12:47 - Private Equity Liquidity Crisis

20:52 - Bitcoin Lightning and Traditional Finance

29:33 - The Rise of Altcoins and Market Dynamics

34:26 - The Risks of the Current Crypto Market

38:10 - Shifting Focus: Inflation and Labor Markets

42:10 - Global Adoption of Bitcoin as a Reserve Asset

44:07 - Innovations in Stablecoins and CBDCs

48:11 - The Future of Bitcoin Custody

01:00:01 - Custody Risks and Corporate Bitcoin Treasuries

If you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.

Links discussed:
https://www.reuters.com/business/media-telecom/us-examines-equity-stake-chip-makers-chips-act-cash-grants-sources-say-2025-08-20
https://truthsocial.com/@realDonaldTrump/posts/115074444617901812
https://docs.congress.hrep.online/legisdocs/basic_20/HB00421.pdf
https://bitcoin.docsend.com/view/5d9i69p3b78w7wqn
https://blockchaintechnology-news.com/news/sofi-becomes-first-us-bank-to-use-bitcoin-lightning-for-remittances
https://x.com/SpencerHakimian/status/1958906585948069890
https://x.com/KobeissiLetter/status/1959279096292053363
https://x.com/MacroScope17/status/1959628044580073818
https://x.com/AyyouEm/status/1958879078410592741
https://x.com/BoringBiz_/status/1959688259015180728
https://www.linkedin.com/feed/update/urn:li:activity:7363548191142658049/
https://www.coindesk.com/markets/2025/08/21/corporate-bitcoin-treasuries-could-raise-credit-risks-morningstar-dbrs-says
https://x.com/strack_ben/status/1958525507655335937
https://www.theblock.co/post/367914/bitcoin-og-sell-bitcoin-buy-ether

Keep up with Michael: X and LinkedIn

Keep up with Brian: X and LinkedIn

Keep up with Liam: X and LinkedIn

Connect with Onramp // Onramp Terminal // Joe Bryan on X // What's The Problem

The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset...in the digital age, it's The Last Trade that investors will ever need to make.

00:00 - Framing the Problem of Broken Money

13:13 - From TradFi to Bitcoin: Joe Bryan’s Path

23:20 - Inflation Explained: Mechanism & Fallout

34:14 - Inflation’s Toll on Families & Small Businesses

43:25 - Forced Speculation: The Fiat Burden

49:16 - Today’s Playbook: Bonds, Equities, Bitcoin

58:18 - The “Risk-Free” Mirage: Seizure & Real Returns

01:04:44 - Money’s Arc: Gold → Paper → Code

01:11:15 - Bitcoin vs. Altcoins: Fixed Rules vs. Red Buttons

01:16:52 - Outro & Disclaimer

Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

Connect with Onramp // Jackson Mikalic on X // First Covenant Trust & Advisors

Onramp Bitcoin Dynasty Trusts

Download deep dive report from Onramp

Scarce Assets: a biweekly podcast presented by Onramp which delves into the emergent role of bitcoin in finance professionals' strategies and outlooks. Hosted by Jackson Mikalic, Scarce Assets provides invaluable insights for wealth managers aiming to outperform their peers in the decades ahead. Finance professionals everywhere know about stocks and bonds, but the macroeconomic outlook requires that serious investors pay close attention to another category: Scarce Assets.

00:00 – Onramp Bitcoin Dynasty Trusts

03:53 – First Covenant & David Greene’s Background

08:26 – Why Estate Planning Matters for Bitcoin

12:41 – Bitcoin as the “Acorn” Asset

17:41 – Trust Structures & Directed Trusts

25:21 – Multi-Institution Custody (MIC)

32:31 – Trusts as Protocols

38:56 – Setting Up a South Dakota Trust

44:46 – Costs & Accessibility

49:36 – Gifting, Sales & Borrowing Against BTC

57:26 – Implementation & Closing Thoughts

01:02:47 – Outro & Disclaimer

Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

Connect with Early Riders // Connect with Onramp

Presented collaboratively by Early Riders & Onramp Media…

Final Settlement is a weekly podcast covering the underlying mechanics of the bitcoin protocol, its ongoing development and funding, and real-world applications of the technology.

00:00 - Introduction and Market Overview

05:27 - Trends of Digital Asset Company IPOs

09:57 - Mining Hardware Innovations

15:32 - AI and Bitcoin Mining Synergies

18:13 - Challenges Facing Crypto Exchanges

26:02 - Long-Term Perspectives on Bitcoin Investment

32:54 - Timeless Wisdom from Value Investing

37:47 - Competitive Forces in Bitcoin vs. Altcoins

41:39 - Value and Quality Assets

44:25 - Institutional Adoption of Bitcoin

48:10 - Custody and Risk Management in Bitcoin Investment

50:46 - Monetary Policy and Bitcoin's Role

52:46 - Regulatory Challenges Facing Bitcoin

56:51 - The Future of AI and Bitcoin Mining

If you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.

Links discussed:
https://www.sec.gov/Archives/edgar/data/1872195/000110465925069070/tm2421409-15_f1.htm
https://proto.xyz/blog/posts/proto-rig-and-proto-fleet-a-paradigm-shift
https://x.com/Tradermayne/status/1956543965064548592
https://www.ledgerinsights.com/bis-proposes-grading-wallets-for-permissionless-blockchain-aml/
https://blog.bitmex.com/treasury-company-advisory-agreements/
https://finance.yahoo.com/news/ai-arms-race-heats-startups-230146272.html
https://x.com/MartyBent/status/1957108340137627648
https://x.com/LukeGromen/status/1957093601818694000

Keep up with Michael: X and LinkedIn

Keep up with Brian: X and LinkedIn

Keep up with Liam: X and LinkedIn

Connect with Onramp // Onramp Terminal // James Seyffart on X

The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset...in the digital age, it's The Last Trade that investors will ever need to make.

00:00 – Introduction to James Seyffart of Bloomberg

04:23 – Background & Path to Covering Bitcoin

11:19 – Inside Bloomberg’s Crypto Coverage

15:26 – Spot Bitcoin ETF Launch & Record-Breaking Success

21:01 – Why TradFi Still Struggles with Bitcoin

28:09 – BlackRock’s Pivotal Role

34:44 – Sound Money Renaissance: Bitcoin & Gold

42:43 – Macro Context: Debt, Inflation & Asset Valuations

51:48 – Custody Concentration & Coinbase Risks

56:53 – Digital Asset Treasury Companies (DATs)

1:03:41 – 13F Filings & Institutional Ownership Trends

1:11:51 – Vanguard’s Anti-Bitcoin Stance

1:16:38 – Looking Ahead: Flows, Custody, and Market Integration

1:20:45 – Closing Thoughts, Outro and Disclaimers

Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

Connect with Early Riders // Connect with Onramp

Presented collaboratively by Early Riders & Onramp Media…

Final Settlement is a weekly podcast covering the underlying mechanics of the bitcoin protocol, its ongoing development and funding, and real-world applications of the technology.

00:00 - Introduction and Market Overview

02:44 - Harvard's Endowment and Bitcoin Investment

05:51 - The Sound Money Narrative: Bitcoin and Gold

08:50 - Institutional Adoption and Career Risk

11:33 - The Future of Asset Allocation

14:43 - Tether and Reserve Assets

17:57 - Tariffs on Gold and Market Reactions

20:28 - Digitization of Gold and Commodities Trading

27:32 - The Impact of Leadership Changes in Crypto Policy

29:31 - National Security and Economic Growth through Bitcoin

32:45 - The Role of Private Sector in Bitcoin Adoption

35:32 - Bitcoin Treasury Strategies and Market Dynamics

38:28 - Banking Sector's Approach to Bitcoin Products

41:35 - Custody Solutions and the Future of Bitcoin Management

49:17 - The Evolution of E-Commerce and Market Trends

If you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.

Links discussed:
https://www.newswire.com/news/onramp-bitcoin-launches-dynasty-trust-services-22620960
https://x.com/btcpolicyorg/status/1940070537939575031
https://x.com/River/status/1953850840680218900
https://finance.yahoo.com/news/trump-media-confirms-2b-bitcoin-061009214.html
https://www.thecrimson.com/article/2025/8/9/hmc-q2-2025-filings/
https://x.com/BitcoinPierre/status/1954344430586188181
https://www.cnbc.com/2025/08/08/openstore-demise-endgame-for-once-booming-ecommerce-aggregator-market.html

Keep up with Michael: X and LinkedIn

Keep up with Brian: X and LinkedIn

Keep up with Liam: X and LinkedIn

Connect with Onramp // Onramp Terminal // Onramp Bitcoin Dynasty Trust Services // Full deep dive report from Onramp

The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset...in the digital age, it's The Last Trade that investors will ever need to make.

00:00 – Trump’s Executive Order on 401Ks and Bitcoin Access

03:30 – Private Equity, Retirement Plans, and Regulatory Implications

06:45 – ETF Access Constraints Across Major Banks and Wirehouses

09:20 – Impact of Passive Flows on Bitcoin Market Structure

13:30 – Debating the Future of Bitcoin Cycles and Sovereign Adoption

18:10 – Custodial Concentration and Systemic Risk Scenarios

21:45 – Macro Deterioration: Housing, Wages, and Regulatory Burdens

28:30 – Global Institutional Interest and Strategic Reserve Momentum

35:25 – Digital Asset Treasury Companies vs. Bitcoin Fundamentals

45:00 – Tether, Stablecoin Infrastructure, and Regulatory Trajectory

52:00 – Gold Revaluation, Real Yields, and the Cost of Capital

55:30 – Launching Onramp’s Bitcoin Dynasty Trust Services

01:05:45 – Closing Reflections, Outro, and Disclaimer

Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

Connect with Onramp // Onramp Terminal // First Covenant Trust & Advisors // Onramp Bitcoin Dynasty Trust Services // Full deep dive report from Onramp

The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset...in the digital age, it's The Last Trade that investors will ever need to make.

00:00 – Intro to Paul Hoilman of First Covenant

04:22 – Launching: Onramp Bitcoin Dynasty Trusts

07:10 – From TradFi to Trust Planning to Bitcoin

12:05 – The Estate Planning Gap in Bitcoin

16:10 – Why South Dakota Trust Law Wins

21:25 – Protecting Wealth Like a Billionaire

27:05 – Plan Before Bitcoin Hits $1M

31:35 – Dynasty vs. Asset Protection Trusts

36:25 – $29M Saved: Case Study Breakdown

42:00 – Solving the Custody Problem

46:35 – Keep Control: Lending & Liquidity

51:30 – Privacy & Lawsuit Protection

55:00 – From Self-Custody to Legacy Planning

58:30 – How to Set Up a Dynasty Trust

01:05:53 – Outro and Disclaimer

Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

Connect with Onramp // Jackson Mikalic on X // Jeroen Blokland on X // Blokland Fund

Scarce Assets: a biweekly podcast presented by Onramp which delves into the emergent role of bitcoin in finance professionals' strategies and outlooks. Hosted by Jackson Mikalic, Scarce Assets provides invaluable insights for wealth managers aiming to outperform their peers in the decades ahead. Finance professionals everywhere know about stocks and bonds, but the macroeconomic outlook requires that serious investors pay close attention to another category: Scarce Assets.

00:00 – Welcoming Back Jeroen Blokland

03:22 – Why Every Asset Is Pumping in 2025

09:04 – Liquidity, Debt, and the Trap Central Banks Are In

13:55 – Fiscal Dominance and the End of Fed Independence

21:25 – The 60/40 Portfolio Is Dead—Here’s Why

29:07 – Inflation, Debasement, and Real Wealth Preservation

36:55 – Gold Is Back—And It’s Outperforming Bonds

45:55 – Why Institutions Still Don’t Get Bitcoin or Gold

53:40 – Bitcoin’s Role in a Sound Portfolio

01:04:54 – The $1.5T EU Trade Deal

01:11:24 – Outro and Disclaimers

Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

Connect with Early Riders // Connect with Onramp

Presented collaboratively by Early Riders & Onramp Media...

Final Settlement is a weekly podcast covering the underlying mechanics of the bitcoin protocol, its ongoing development and funding, and real-world applications of the technology.

00:00 - Bitcoin Market Dynamics and Volatility

03:01 - Understanding SEC's New Leadership and Its Implications

05:44 - The Future of Custody and Regulation in Crypto

09:07 - The Conflation of Bitcoin and Other Cryptos

11:48 - The Sound Money Thesis: Bitcoin vs. Other Assets

14:46 - The Role of ETFs in Bitcoin Trading

17:56 - Institutional Adoption and Market Maturity

34:16 - Institutional Adoption of Bitcoin

40:02 - The Future of Stablecoins

48:51 - Mainstream Reporting on Bitcoin

50:31 - Tim Draper's Bitcoin Fund

01:00:07 - The Changing Landscape of Wealth

If you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.

Links discussed:
https://drive.google.com/file/d/1HmS513cXBKR1jLq1KfQSlKmcLg4Zrf9M/view
https://www.sec.gov/newsroom/speeches-statements/atkins-digital-finance-revolution-073125
https://x.com/EricBalchunas/status/1950913303623905601
https://archive.ph/wRLV6
https://x.com/NatHalberstadt/status/1951635776900415724
https://x.com/gregisenberg/status/1952129553213571390
https://murmurationstwo.substack.com/p/the-last-word-on-stablecoins-and?selection
https://x.com/nic__carter/status/1952002119717818782

Keep up with Michael: X and LinkedIn 

Keep up with Brian: X and LinkedIn 

Keep up with Liam: X and LinkedIn