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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
Connect with Onramp // Onramp Terminal // Arch Lending // Dhruv Patel on X // Himanshu Sahay on X // Bitcoin Backed Loans: Expensive, or Misunderstood?
The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset...in the digital age, it's The Last Trade that investors will ever need to make.
00:00 - Introduction to Dhruv Patel and Himanshu Sahay
01:41 - Breaking Down the White House Digital Assets Report
07:29 - Bitcoin’s Growing Distinction from the Broader Crypto Space
10:28 - How Bitcoin Went from Fringe to Treasury Strategy
13:32 - The Rise of Bitcoin-Backed Public Companies
16:47 - Strategic Bitcoin Adoption and Economic Incentives
20:07 - Custody Risk and the MicroStrategy Blind Spot
21:43 - Major Banks Partner with Coinbase: What's at Stake
27:05 - Coinbase as a Systemic Risk and Industry Bottleneck
32:20 - Kraken’s IPO and Institutional Capital in Bitcoin
35:15 - Fed Dissent, Interest Rates, and Political Pressure
42:03 - Abra Halts Withdrawals: Lending Risk Is Back
47:00 - Custody, Collateral, and Counterparty Due Diligence
54:08 - Behind the Scenes of Arch’s Lending Infrastructure
58:29 - Private Credit, Rate Arbitrage, and Institutional Capital
01:03:42 - Bankruptcy Remoteness and Custodial Risk Management
01:11:02 - Product Innovation: Tax, Retirement, and Income Lending
01:17:36 - Final Thoughts, 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 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 Institutional Interest
07:56 - Banking Partnerships and Crypto Services
13:53 - Stablecoin Developments and Competition
24:24 - Innovations in Financial Products and Bitcoin Economy
28:27 - The Financialization of Bitcoin
30:39 - Market Dynamics and Company Acquisitions
32:44 - The Rise of Bitcoin Treasuries
35:36 - The Evolution of Investment Strategies
38:22 - Texas and the Shift Towards Hard Assets
43:09 - The Future of Alternative Investments
46:02 - The Changing Landscape of Crypto Funds
51:16 - Big Week Ahead
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/MacroScope17/status/1949111802282864838
https://x.com/coinbureau/status/1949350139576897580
https://x.com/matthew_sigel/status/1949806670307102983
https://www.theblock.co/post/351325/crypto-liquid-funds-down-bad-shifting-to-quality-tokens
https://altgoesmainstream.substack.com/p/agm-alts-weekly-72725-alts-are-actually?utm_source=substack&publication_id=236897&post_id=169344488&utm_medium=email&utm_content=share&utm_campaign=email-share&triggerShare=true&isFreemail=true&r=fn53&triedRedirect=true
https://www.dallasnews.com/business/2025/07/21/money-moves-why-texas-is-all-in-on-precious-metals-and-surging-bitcoin/
https://x.com/real_vijay/status/1949713070789464212
https://www.theblock.co/post/364402/paypal-unveils-payment-option-enabling-small-businesses-to-accept-over-100-cryptocurrencies-using-pyusd?utm_source=telegram1&utm_medium=social
https://x.com/DylanLeClair_/status/1948424150671855740
https://www.aba.com/-/media/documents/letters-to-congress-and-regulators/jointltrtrustcharter20250717.pdf?rev=ce8489ef41574e91822393ad04c3cb62
https://ca.finance.yahoo.com/news/jpmorgan-plans-launch-crypto-backed-045505486.html?utm_medium=email&_hsenc=p2ANqtz-8aez6hjaP09EKP4NFfC7TwWbJQpoErM-WV5hd7UQd4Xybr0twEH7uTxtFv0BjdDDFz14SuzZivWpDqbep_i4W6UxL3aHDarf2AVWgnTHgoub25MMo&_hsmi=2&utm_content=2&utm_source=hs_email
https://pnc.mediaroom.com/2025-07-22-PNC-Bank,-Coinbase-Announce-Strategic-Partnership-to-Advance-Digital-Asset-Solutions-and-Expand-Banking-Services?utm_medium=email&_hsenc=p2ANqtz-8YeeCLaQSpobqWg6Tm9YHFGKk-ocdmEcV-AmeeMptP6eMXryzd4_00tEceLd9LYa1EfRcGISNzFvXEr-Zl1383QQjn1ioRxRlANpooLpt5bTVkloE&_hsmi=2&utm_content=2&utm_source=hs_email
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/
Connect with Onramp // Onramp Terminal // Eric Balchunas 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 Eric Balchunas of Bloomberg
08:58 - The Evolution of Bitcoin and ETF Coverage
16:33 - Understanding Bitcoin: Insights and Misconceptions
22:26 - The Correlation Between Knowledge and Investment
26:52 - The Future of Bitcoin and ETF Dynamics
29:23 - Potential Risks and Black Swan Events
35:19 - Trust in Custodians and the Evolution of ETFs
41:28 - The Meteoric Rise of Bitcoin ETFs
47:53 - The Dichotomy of Traditional Finance and Bitcoin
55:27 - The Role of Bitcoin in Modern Portfolios
01:06:27 - The Future of Bitcoin as a Currency
01:09:40 - Security and Custody in Digital Assets
01:13:31 - The Role of ETFs in Bitcoin Adoption
01:20:36 - Navigating the Complexities of Bitcoin Custody
01:24:49 - 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 // Josh Phair on LinkedIn
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 - Intro to Josh Phair, CEO of Scottsdale Mint
09:18 - Josh's Journey in Precious Metals
19:40 - The Current State of Gold and Bitcoin
21:52 - Revaluation of Gold and Strategic Advantages
31:41 - The Future of Stablecoins and Digital Assets
37:05 - The Control of Capital in Financial Systems
40:13 - Historical Context of Monetary Systems
42:49 - Gold and Bitcoin: The Future of Hard Assets
52:01 - Jurisdictional Risks and Asset Security
58:45 - The Evolution of Investment Strategies
01:03:48 - The Future of State-Level Financial Systems
01:11:14 - 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 Early Riders // Connect with Onramp
Presented collaboratively by Early Riders & Onramp Media...
Final Settlement is a weekly podcast covering bitcoin applications, protocol development, broader capital markets and early-stage venture.
00:00 - Introduction and Current Events in Crypto
02:56 - Regulatory Developments and Their Impact
05:50 - Stablecoins and The Shift in Market Structure
08:49 - The Role of Banks in the Crypto Ecosystem
11:46 - Disintermediation and the Future of Banking
14:54 - Insurance and Security in Crypto Assets
18:02 - The Rise of Custodians and Market Dynamics
20:42 - Public Market Interest in Crypto Firms
23:41 - Future Trends and Predictions in Crypto
36:21 - The Rise of Crypto Custody and Public Awareness
37:25 - Market Dynamics: Bitcoin's Role and Institutional Interest
39:12 - Navigating Risks in Digital Asset Management
40:10 - The Future of Financial Services: Bitcoin as a Hurdle Rate
43:45 - Conflation of Crypto Assets and Regulatory Impacts
45:56 - Investment Strategies: Smart Money vs. Speculation
50:37 - Yield Generation: Risks and Opportunities in Bitcoin Investments
55:28 - Emerging Trends: Bitcoin Treasury Companies and Market Structure
01:00:18 - Innovative Banking Solutions for the Digital Age
01:05:17 - The Importance of Multi-Institutional Control in Crypto
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.newsweek.com/donald-trump-changing-401-k-what-know-2100628
https://www.businesswire.com/news/home/20250715691388/en/MARA-Leads-%2420-Million-Investment-in-Two-Prime-to-Advance-Institutional-Bitcoin-Yield-Strategies-and-Expands-SMA-to-2000-BTC
https://www.youtube.com/watch?v=OWhrlHO_1Vc
https://www.coindesk.com/business/2025/07/15/function-raises-10m-to-bring-yield-to-bitcoin-gets-backing-from-galaxy-digital-antalpha-and-mantle
https://www.bloomberg.com/news/articles/2025-07-18/crypto-market-cap-tops-4-trillion-as-us-stablecoin-bill-passes?cmpid=071825_marketsdaily&utm_medium=email&utm_source=newsletter&utm_term=250718&utm_campaign=marketsdaily
https://fortune.com/2025/07/16/jpmorgan-chase-fees-fintechs-plaid-finicity-crypto-wall-street-citigroup-bank-of-america-wells-fargo/
https://x.com/MTanguma/status/1946636253249851478
Keep up with Michael: X and LinkedIn
Keep up with Brian: X and LinkedIn
Keep up with Liam: X and LinkedIn
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