In Episode 21 of The ₿roadcast, Bram Kanstein, Michael Tanguma, and Brian Cubellis break down the most important Bitcoin and macro developments from the past few weeks.

The conversation centers on Morgan Stanley’s Bitcoin ETF filing, what it really signals about institutional demand, and why the shift from “allowed” to “recommended” marks a new phase of adoption. From AI-driven abundance and information slop to Bitcoin’s role as a verifiable truth anchor, the episode connects Wall Street, custody, regulation, energy, and game theory into a single framework.

00:00 — Bullish on Bitcoin (We’re Back)

03:40 — AI, Vibe Coding, and the Return of the Builder Era

08:10 — Morgan Stanley Files a Bitcoin ETF

12:45 — From Access to Recommendation

17:30 — Financialization, Collateral, and Bitcoin’s Wall Street Endgame

22:20 — “Bear Market” Psychology vs Structural Reality

27:40 — The Supply Problem No One Is Positioned For

32:10 — Gold, Bonds, and the Real Rotation Trade

36:50 — Regulation Signals: The Clarity Act & Political BTC Buys

41:20 — Venezuela, Sovereign Bitcoin, and Strategic Reserves

46:30 — AI, Consciousness, and the Coming Slop Era

52:10 — Bitcoin as a Truth Anchor

57:40 — Prediction Markets, Degeneracy, and Growing Pains

1:01:30 — Hashrate: The Signal That Never Lies

1:06:10 — The Real Adoption Bottleneck: Custody & Physical Risk

1:12:30 — CNBC Panic, Monetary Debasement, and the Inevitable Trend

1:15:40 — Final Thoughts + Where Should We Meet in 2026?

The ₿roadcast: Bitcoin culture meets Business & Finance. We catch up LIVE on news, tweets, videos, charts, trends, and other Bitcoin related content that stood out to us in the past two weeks ⚡️ Published on Saturday at 9AM EST / 3PM CET.

The Last Trade: Morgan Stanley’s ETF filing and Bank of America’s allocation guidance mark a shift in Bitcoin’s market structure. We discuss institutional flows, the limits of cycle models, and why custody risk is becoming central to adoption.

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🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.

👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance

👉 Institutional: https://onrampbitcoin.com/products/institutional

👉 Business: https://onrampbitcoin.com/products/business

📩 Schedule a briefing: https://onrampbitcoin.com/contact

🎙️ About This Episode

In the first Last Trade of 2026, we unpack why Morgan Stanley’s ETF filing and Bank of America’s advisor rollout are major signals of Bitcoin’s institutional maturation. We discuss how shifting access and solicitation may reshape the cycle debate, why fundamentals can strengthen even when price chops, and what it means that Bitcoin settled roughly $25T in value in 2025.

We also explore the rise of “long degeneracy” as a symptom of broken incentives, then close on the part of adoption most people avoid: custody risk. As Bitcoin’s value grows, so does the incentive for attacks and concentration failures, which is why market structure and resilient custody models matter more than ever.

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.

🧠 Chapters

00:00 — Why This Year Feels Different for Bitcoin

02:05 — Morgan Stanley’s ETF Filing & Institutional Demand

11:30 — Sentiment vs. Fundamentals: 2026 Bitcoin Setup

21:34 — Degeneracy, Nihilism, Work, & Money

34:12 — Agency, AI, & the Future of Wealth Creation

37:14 — Dead Internet, Slop, & the Return to Analog Signal

39:22 — Running It Hot: AI, Growth Narratives, & Asset Inflation

43:09 — Fraud, GDP, & the Trust Breakdown

49:43 — Institutional Trust Erosion & Market Consequences

53:17 — Mimetic Momentum: What Ignites the Next Reflexive Move

01:04:10 — Gold vs. Bitcoin: Wealth Effects & the Broken Denominator

01:07:56 — Custody Risk Comes Into Focus

01:22:16 — Market Structure, Custody, & Bitcoin’s Path Forward

01:27:08 — Outro & Disclaimer

💡 Subscribe & Stay Ahead

Get Onramp’s weekly Research & Analysis:

High-signal insights in bitcoin, macro, and custody.

📩 https://onrampbitcoin.com/research

Subscribe to Onramp Media for more:

🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with Onramp

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.

00:00 - Welcome Back and Market Overview

02:47 - Inflation and Asset Trends

05:44 - Regulatory Changes and Institutional Adoption

08:53 - Security Risks and Custody Solutions

11:52 - Market Sentiment and Long-Term Thinking

14:57 - The Role of AI and Future Predictions

33:15 - Navigating the Content Proliferation Challenge

35:59 - The Future of Value in Digital Content

40:19 - Stablecoins vs. Bitcoin: The Future of Transactions

42:10 - Tether's Strategic Positioning in Global Markets

48:43 - The Shift of Talent and Capital to Favorable Jurisdictions

56:17 - Understanding the Economic Landscape and Future Opportunities

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

Links discussed:
https://x.com/exec_sum/status/2005751198725640395?s=20
https://x.com/bearlyai/status/2006474217206985085?s=20
https://x.com/paoloardoino/status/2002414704753586398?s=20

Keep up with Michael:

https://x.com/MTanguma
https://www.linkedin.com/in/mtanguma/

Keep up with Brian:

https://x.com/BackslashBTC
https://www.linkedin.com/in/brian-cubellis-00b1a660/

Keep up with Liam:

https://x.com/Lnelson_21
https://www.linkedin.com/in/liam-nelson1/

The Last Trade: Matt Odell on the 2025 postmortem: why BTC lagged gold, how DATs wrecked sentiment, what the quantum debate gets wrong, and what changes when institutions take the wheel.

---

🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.

👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance

👉 Institutional: https://onrampbitcoin.com/products/institutional

👉 Business: https://onrampbitcoin.com/products/business

📩 Schedule a briefing: https://onrampbitcoin.com/contact

Matt Odell: https://odell.xyz

🎙️ About This Episode

With Matt Odell in the studio, we run a proper 2025 postmortem: why the “OGs are dumping” narrative never dies, what actually changes when Bitcoin’s liquidity deepens, and why it’s healthy (not bearish) for long-term supply to distribute over time.

From there, we tackle the elephant in the room: gold and equities ripped while BTC chopped. Matt’s take is simple and brutal, retail is broke, capital is hiding in perceived safe havens, and Bitcoin still gets treated like a high-risk tech trade if you don’t understand self-custody. We also dig into the October break in the crypto casino and how forced sellers can pin price even when long-term fundamentals look strong.

Then we get honest about the cultural and structural fallout from “Bitcoin treasury companies” & DATs: how leverage-on-leverage turned into a negative feedback loop, why board seats and influencer incentives distorted the narrative, and why the only benchmark that matters is whether these wrappers can actually beat spot bitcoin over time.

Finally, we hit the quantum panic. Matt lays out a sober framework: upgrade carefully, opt-in where possible, don’t rush into untested cryptography, and don’t even flirt with protocol-level seizures or “freezing” coins. If Bitcoin compromises neutral property rights to “save” the market, it’s no longer Bitcoin. We close with what this all implies for 2026: whether cycles are fading, where the next reflexive move could come from, and why the most bearish sentiment is often the best tell.

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.

🧠 Chapters

00:00 - Christmas Greetings + Why 2025 Felt So Weird

01:42 - “OGs Dumping” Bitcoin: Meme Narrative vs. Reality

03:35 - Liquidity, Distribution, & Engagement Bait

06:24 - Sentiment, Macro, & the “Quiet Depression” View

09:42 - Institutions, ETFs, & How Market Structure Changes the Cycle

12:35 - DATs / Treasury-Co Mania: Why It Took Over 2025

16:27 - Cultural Fragmentation + Incentives

22:36 - Quantum FUD Deep Dive

45:25 - Why the Next Move Will Catch People Offside

48:25 - Centralization Risk, Custodians, & How a Fork Would Play Out

55:28 - Why Quantum Became the “Last Remaining FUD”

59:11 - Stablecoins, Tether, & the Institutional Rails Story

01:02:20 - SBR: Expectations vs. Reality + 2026 Scenarios

01:06:20 - Gold’s Run, the Debasement Trade, & the Bitcoin Setup

01:10:27 - 2026 Outlook: Cycle Theories & What Could Flip the Switch

01:29:21 - Outro & Disclaimer

💡 Subscribe & Stay Ahead

Get Onramp’s weekly Research & Analysis:

High-signal insights in bitcoin, macro, and custody.

📩 https://onrampbitcoin.com/research

Subscribe to Onramp Media for more:

🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with Onramp

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.

00:00 - Year-End Reflections and Top Deals

12:45 - Market Signals and ETF Flows

25:13 - Stablecoins and Digital Asset Integration

28:19 - Noise in the Market: DATs and Cycle Theory

35:26 - Reevaluating Bitcoin Cycles

36:01 - The Quantum Debate

37:09 - Predictions for Bitcoin's Future

41:39 - Market Dynamics and Predictions

53:45 - Innovative Banking Solutions for 2026

59:55 - The Future of Multi-Institution Custody

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

Keep up with Michael:

https://x.com/MTanguma
https://www.linkedin.com/in/mtanguma/

Keep up with Brian:

https://x.com/BackslashBTC
https://www.linkedin.com/in/brian-cubellis-00b1a660/

Keep up with Liam:

https://x.com/Lnelson_21
https://www.linkedin.com/in/liam-nelson1/

The Last Trade: Jeff Deist explains why “saving” died in the fiat era, how markets morphed into a casino, why gold is quietly re-monetizing, and what Bitcoin’s financialization gets dangerously wrong as younger generations face a broken denominator, housing despair, and a culture of Hail Mary bets.

---

🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.

👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance

👉 Institutional: https://onrampbitcoin.com/products/institutional

👉 Business: https://onrampbitcoin.com/products/business

📩 Schedule a briefing: https://onrampbitcoin.com/contact

Jeff Deist on X: https://x.com/jeffdeist

🎙️ About This Episode

With Jeff Deist (General Counsel at Monetary Metals, former President of the Mises Institute, former Chief of Staff to Ron Paul), we go back to first principles: what Austrian economics actually is, why “macro” often becomes storytelling, and how sound money frames human cooperation, scarcity, and long-term civilization building.

From there, we diagnose the modern U.S. economy through Deist’s lens: the post-1982 debt era, collapsing savings as a virtue, and the way suppressed rates turned equities and housing into de facto “savings accounts.” Jeff argues this is why under-40s feel trapped, why wealth inequality becomes socially corrosive, and why a culture that can’t save drifts toward speculation, despair, and even prediction markets as financialized entertainment.

We then zoom in on gold’s breakout year and what it signals. Jeff makes the case that gold’s premium still reflects “moneyness,” especially outside the West, and explains Monetary Metals’ model for earning yield in ounces through gold leases and bonds. Finally, we close on Bitcoin’s institutional path and the risks of financialization: why Deist dislikes BTC treasury companies, how distorted incentives pull talent into financial engineering over real production, and what it means for capital markets when “numbers go up” becomes the organizing principle.

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.

🧠 Chapters

00:00 – Welcome + Jeff Deist’s Background

02:17 – Discovering Austrian Economics

04:38 – Libertarianism vs. Economics

08:43 – Bitcoin as a Sound Money On-Ramp

14:13 – Inequality, Housing, & the Under-40 Squeeze

19:17 – Distorted Capital Markets & Malinvestment

23:30 – What Money Is: Rates, Inflation, & Savings

28:11 – Why Savings Died

39:12 – Speculation Culture & “Betting on Everything”

42:03 – Gold’s Breakout & “Moneyness”

46:23 – Gold vs. Bitcoin

51:33 – Preserving Wealth in Uncertainty

56:43 – Government, Fiscal Dominance, & Tech Deflation

01:04:15 – Learning as the Real Edge

01:12:42 – Bitcoin Financialization & Treasury Companies

01:21:38 – Outro & Disclaimer

💡 Subscribe & Stay Ahead

Get Onramp’s weekly Research & Analysis:

High-signal insights in bitcoin, macro, and custody.

📩 https://onrampbitcoin.com/research

Subscribe to Onramp Media for more:

🎧 The Last Trade | Final Settlement | Scarce Assets

Scarce Assets: Vance Crowe explains why BTC is becoming the superior store of value, how it could reshape farmland economics, & why family legacy may be the most important asset you pass on.

---

🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.

👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance

👉 Institutional: https://onrampbitcoin.com/products/institutional

👉 Business: https://onrampbitcoin.com/products/business

📩 Schedule a briefing: https://onrampbitcoin.com/contact

Jackson Mikalic on X --- https://x.com/macrojack21

Vance Crowe on X --- https://x.com/VanceCrowe

🎙️ About This Episode

Vance Crowe joins Scarce Assets for a wide-ranging conversation on family legacy, farmland economics, inflation, and why Bitcoin is becoming the superior store of value. From his early career at the World Bank and Monsanto to founding Legacy Interviews, Vance brings a unique, real-world perspective on how sound money reshapes behavior across generations, industries, and economies.

We explore his thesis that Bitcoin will eventually demonetize farmland, how inflation quietly destabilizes societies, why cycles matter far less than conviction, and why running a node changed his understanding of Bitcoin forever.

- The origin story of Legacy Interviews and why family storytelling is an irreplaceable asset

- How a World Bank economist accidentally pushed Vance toward Bitcoin

- The farmland store-of-value problem and why Bitcoin alters the economics

- Inflation, The Mandibles, and the politics of a weakening currency

- Hyperbitcoinization vs. stability: why Vance prefers a slow transition

- Government adoption, commodities priced in BTC, and the role of hash rate

- Stablecoins, dollar geopolitics, and the risk of “financial conflict”

- Why most people won’t adopt Bitcoin without guided onboarding

- How running a full node changed Vance’s mental model of Bitcoin

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.

🧠 Chapters

00:00 – Introduction to Vance Crowe & Legacy Interviews

07:05 – How Legacy Interviews Began

13:19 – The Value of Capturing Family Stories

20:13 – Vance Discovers Bitcoin

26:08 – Bitcoin’s Impact on Farmland & Land Values

31:46 – Inflation, Mandibles & Monetary Reality

36:50 – Wealth Bifurcation & Inflation Misunderstandings

42:54 – Bitcoin as a Savings Technology

49:52 – Adoption, Onboarding & Government Dynamics

55:59 – Stablecoins, Geopolitics & Dollar Power

01:00:44 – Closing Thoughts, Outro, & Disclaimer

💡 Subscribe & Stay Ahead

Get Onramp’s weekly Research & Analysis:

High-signal insights in bitcoin, macro, and custody.

📩 https://onrampbitcoin.com/research

Subscribe to Onramp Media for more:

🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders // Connect with Onramp

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.

00:00 - The Arrival of Banks in Digital Assets

02:49 - Institutional Adoption and Regulatory Changes

05:46 - The Role of Traditional Banks in Digital Assets

08:43 - Partnerships and Trust in the Digital Asset Space

11:49 - The Impact of PNC's Bitcoin Trading

14:54 - User Behavior and Market Dynamics

17:56 - The Future of Banking and Digital Asset Integration

20:51 - The Centralization Debate in Digital Assets

23:46 - The Evolution of Financial Products

29:26 - Navigating Market Challenges

31:50 - The Rise of Stablecoins in Tech

34:27 - Cultural Shifts in Digital Payments

36:16 - Blurring Lines in Financialization

40:45 - Innovations in Banking and Fintech

44:55 - Around the Horn: Insights and Predictions

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.occ.gov/news-issuances/news-releases/2025/nr-occ-2025-125.html
https://x.com/BitGo/status/1999514929314038040
https://www.investing.com/news/company-news/paribu-acquires-majority-stake-in-coinmena-in-turkeys-largest-fintech-deal-93CH-4392748
https://www.theblock.co/post/382111/stripe-acquires-valora-wallet-team-builds-stablecoin-services
https://www.globenewswire.com/news-release/2025/12/08/3201287/0/en/AllScale-Raises-5M-Seed-Led-by-YZi-Labs-to-Build-World-s-First-Self-Custody-Stablecoin-Neobank.html
https://www.loopcrypto.xyz/blog/loop-crypto-is-joining-lead
https://www.theblock.co/post/381903/pnc-bitcoin-trading-high-net-worth-clients-coinbase-tie-up
https://archive.ph/tqGv6#selection-1037.11-1037.97
https://bitcoinmagazine.com/news/coinbase-prediction-tokenized-stocks
https://x.com/TheBlock__/status/1998886176447488055?s=20
https://www.theblock.co/post/382209/binance-api-update-hints-at-stock-perpetual-contracts-as-exchanges-eye-tradfi-markets
https://x.com/gondorfi/status/1998800082070884751?s=20

Keep up with Michael:

https://x.com/MTanguma
https://www.linkedin.com/in/mtanguma/

Keep up with Brian:

https://x.com/BackslashBTC
https://www.linkedin.com/in/brian-cubellis-00b1a660/

Keep up with Liam:

https://x.com/Lnelson_21
https://www.linkedin.com/in/liam-nelson1/

The Last Trade: Tad Smith unpacks why Bitcoin’s “disappointing” 2025 might be the perfect setup, how gold and sovereign flows are quietly rewriting the sound money playbook, and what AI, labor shocks, and Fed policy mean for younger generations staring at a broken system and a massive opportunity.

---

🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.

👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance

👉 Institutional: https://onrampbitcoin.com/products/institutional

👉 Business: https://onrampbitcoin.com/products/business

📩 Schedule a briefing: https://onrampbitcoin.com/contact

🎙️ About This Episode

With returning guest Tad Smith (former public-company CEO and NYU Stern professor), we zoom out on Bitcoin’s “underwhelming” 2025: why sentiment feels terrible at ~91K, how expectations got ahead of reality, and why he likes the current setup precisely because narrative and positioning look so weak. Tad contrasts gold’s structural central-bank bid with Bitcoin’s emerging endowment and sovereign bid, digs into Harvard vs Abu Dhabi’s BTC motives, and explains what it means when elite institutions are willing to take reputational risk just to get exposure.

From there, we walk through the Fed’s recent cuts, balance sheet “relief,” and the slow-motion regime shift heading into 2026—arguing that liquidity and policy, not a mystical four-year cycle, drive BTC. Then Tad delivers a blunt generational autopsy on debt, housing, and student loans, lays out how AI really threatens white-collar labor, and sketches the likely path to “soft UBI” through more generous existing programs. We close on optimism: why this is still the best time in history to be young and high-agency, how CEOs are actually using AI to reshape labor and productivity, and how Tad rebuilt his NYU Stern course so AI is a required superpower instead of a banned shortcut.

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.

🧠 Chapters

00:00 – Introduction, Tad’s Return & Market Overview

02:42 – Bitcoin’s 2025 Performance and “Disappointing” Sentiment

06:53 – Narratives in Non-Yielding Assets: Bitcoin vs. Gold

08:50 – Harvard, Abu Dhabi & Quiet Institutional Bitcoin Allocations

12:18 – Central Banks Buying Gold and the Emerging Sovereign/Endowment BTC Bid

21:39 – Federal Reserve Rate Cuts, Balance Sheet “Relief,” and Liquidity Shift

32:02 – The Treasury–Fed Relationship and the Myth of Full Independence

37:10 – AI’s Impact on the Labor Market and Career Paths for the Young

38:39 – Generational Accountability: Debt, Housing, and a Rigged Starting Line

42:26 – AI, Job Displacement, and the Road to “Soft UBI”

44:47 – Agency, Entrepreneurship, and Opportunity in a Changing Economy

49:56 – Education in the AI Era: Bans, Blue Books, and Missed Opportunities

01:05:25 – Inside Tad’s NYU Course: Requiring AI and Redesigning the Classroom

01:11:55 – Optimism for the Future: Bitcoin, AI, and Personal Responsibility

01:13:14 – Outro and Disclaimer

💡 Subscribe & Stay Ahead

Get Onramp’s weekly Research & Analysis:

High-signal insights in bitcoin, macro, and custody.

📩 https://onrampbitcoin.com/research

Subscribe to Onramp Media for more:

🎧 The Last Trade | Final Settlement | Scarce Assets

Connect with Early Riders⁠⁠⁠⁠⁠⁠ // ⁠⁠⁠⁠⁠⁠Connect with Onramp⁠⁠⁠⁠⁠⁠ // ⁠⁠⁠⁠⁠⁠Register for Early Riders & Onramp State of the Bitcoin Industry Roundtable⁠⁠⁠⁠⁠⁠

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.

00:00 - Introduction and Market Sentiment

02:00 - Risk Management and Investment Philosophy

04:40 - Bitcoin vs. Traditional Assets

07:31 - Larry Fink's Insights on Bitcoin

10:09 - Sovereign Wealth and Bitcoin Accumulation

13:03 - Global Trends in Crypto Adoption

16:03 - Middle East's Strategic Moves in Crypto

18:52 - Game Theory and Global Crypto Dynamics

22:08 - Emerging Markets and Crypto Services

24:49 - Infrastructure Development in Digital Assets

26:17 - The Importance of Domain Expertise in Cryptocurrency

27:16 - Future of Cryptocurrency and Market Dynamics

29:21 - The Rise of Cybercrime in the Crypto Space

30:20 - Centralization Risks in Cryptocurrency Custody

31:56 - The Gold Standard and Bitcoin's Centralization Problem

34:25 - Navigating Trust and Custody in Bitcoin

37:11 - The Adoption Challenge: From Zero to Bitcoin

40:01 - The Stakes of Digital Asset Custody

44:18 - Emerging Trends in Bitcoin Infrastructure

46:06 - Recent Developments in Crypto Regulation

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

Links discussed:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠https://x.com/MTanguma/status/1996209093858501012?s=20⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠https://www.cftc.gov/PressRoom/PressReleases/9145-25⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠https://www.theblock.co/post/381644/coinbase-resumes-user-onboarding-india⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠https://www.theblock.co/post/381655/robinhood-indonesia-acquisitions⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠https://www.theblock.co/post/381662/argentina-domestic-bank-crypto⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠https://x.com/thisisorlando/status/1996284429455822993?s=20⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠https://bloomingbit.io/en/feed/news/101972⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠https://www.coindesk.com/policy/2025/12/08/binance-wins-full-adgm-approval-for-exchange-clearing-and-brokerage-operations⁠⁠⁠⁠⁠⁠

Keep up with Michael:

⁠⁠⁠⁠⁠⁠https://x.com/MTanguma⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/mtanguma/⁠⁠⁠⁠⁠⁠

Keep up with Brian:

⁠⁠⁠⁠⁠⁠https://x.com/BackslashBTC⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/brian-cubellis-00b1a660/⁠⁠⁠⁠⁠⁠

Keep up with Liam:

⁠⁠⁠⁠⁠⁠https://x.com/Lnelson_21⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠https://www.linkedin.com/in/liam-nelson1/