Episodes

  • Altcoins Implode, Bitcoin Stands Strong: A Masterclass in Signal vs Noise

    Altcoins Implode, Bitcoin Stands Strong: A Masterclass in Signal vs Noise
    Oct 13 2025
    Connect with Early Riders // Connect with OnrampPresented 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 Overview of Recent Events02:53 - Texas Capital Markets and Blockchain Summit Insights05:59 - Understanding the Debasement Trade and Fiscal Policies08:40 - Market Reactions to Recent Economic Announcements12:07 - The Fragility of the Crypto Ecosystem14:53 - Lessons from Recent Market Volatility17:44 - The Role of Bitcoin in a Volatile Market20:55 - The Future of Prediction Markets and Information Discovery30:35 - The Nuances of Prediction Markets32:45 - Square's AI Voice Ordering and Bitcoin Integration37:55 - Traditional Finance Meets Digital Assets42:17 - Sovereign Adoption of Bitcoin49:42 - The Risks in Capital Markets and First BrandsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.theblock.co/post/374266/crypto-liquidations-near-10-billion-in-historic-drawdown-following-trumps-100-tariffs-on-chinahttps://www.cnbc.com/2025/10/10/morgan-stanley-drops-crypto-fund-restrictions-for-wealth-clients.htmlhttps://blockworks.co/news/bank-of-russia-limited-cryptohttps://www.theblock.co/post/374286/rwa-giant-securitize-eyeing-public-listing-via-cantor-fitzgerald-spac-at-unicorn-valuation-bloomberghttps://techcrunch.com/2025/10/10/kalshi-hits-5b-valuation-days-after-rival-polymarket-gets-2b-nyse-backing-at-8b/https://techcrunch.com/2025/10/08/square-launches-ai-voice-ordering-and-an-integrated-bitcoin-solution-for-merchants/https://www.theblock.co/post/373957/paypay-acquires-40-stake-in-binance-japan?utm_source=rss&utm_medium=rsshttps://www.prnewswire.com/news-releases/galaxy-announces-460-million-strategic-investment-from-a-leading-asset-management-firm-302581126.htmlhttps://x.com/unusual_whales/status/1977710157766307970https://x.com/matthew_sigel/status/1976251057421647886https://x.com/gladstein/status/1976684360754684366https://x.com/nextfckingthing/status/1977072040227045729https://x.com/kaledora/status/1977138503382413777https://x.com/web4O/status/1977109201311908304https://x.com/_Checkmatey_/status/1977112327704268833https://finance.yahoo.com/news/wall-street-pivots-morgan-stanley-114628117.htmlhttps://blockworks.co/news/morgan-stanley-crypto-accesshttps://x.com/HighyieldHarry/status/1976107853695107382Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/
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    59 mins
  • Broken Money with Lyn Alden: The Technological Arc of Money and Power

    Broken Money with Lyn Alden: The Technological Arc of Money and Power
    Oct 10 2025

    From the Onramp Media Archives..


    Lyn Alden traces the arc of monetary technology—from shells and tobacco to gold and Bitcoin—and how each leap reshaped who controls money. She explains why Bitcoin represents the end of financialization and the first true form of digital settlement, closing a 150-year gap between transactions and finality. Alden unpacks the forces driving fiscal dominance, the coming liquidity cycle, and why sound, scarce assets like Bitcoin are positioned to lead in a macro-heavy decade defined by debt, geopolitics, and technological change. Originally recorded in February 2024.


    00:00 – Bitcoin as the Reversal of Financialization

    04:20 – Money as a Ledger & the Question of Control

    07:10 – Tobacco & Wampum: Lessons in Early American Money

    11:40 – Two Technological Paths in the Evolution of Money

    15:30 – Telegraph to Bitcoin: Closing the Settlement Gap

    21:00 – Technological Determinism & Monetary Centralization

    25:10 – Fiscal Dominance, Liquidity Cycles, & Bitcoin’s Tailwinds

    29:10 – Hard Assets, Portfolio Strategy, & the Macro-Heavy Decade


    Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.
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    33 mins
  • Wall Street Joins the Sound Money Renaissance

    Wall Street Joins the Sound Money Renaissance
    Oct 8 2025

    Connect with Onramp // Onramp Terminal // Onramp Institutional


    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 — The Debasement "Trade" is Here

    08:13 — Institutional Voices Join the Chorus

    11:21 — The Dollar’s Decline & Asset Inflation

    17:06 — The Fastest Horse Returns

    20:06 — Store of Value: Bitcoin’s Core Use Case

    23:21 — ETFs, Custody, & Counterparty Risk

    26:06 — Hard Money in Modern Portfolios

    29:10 — The Custody Dilemma

    42:59 — Risk, Trust, & Peace of Mind

    44:34 — Sovereign Shifts & Monetary Strategy

    49:56 — Tether as a Digital Nation-State

    58:17 — IBIT Dominance & the Future of BTC Ownership

    01:08:49 — Central Banks & Bitcoin’s Next Era

    01:19:26 — Closing, 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.
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    1 hr and 20 mins
  • Debasement Endgame: Bitcoin ATHs, Gold Near $4K, & Bonds Bleeding

    Debasement Endgame: Bitcoin ATHs, Gold Near $4K, & Bonds Bleeding
    Oct 6 2025
    Connect with Early Riders // Connect with OnrampPresented 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 - Market Breakthroughs: Gold and Bitcoin Surge02:55 - The Debasement Trade: Shifting Sentiments in Finance05:43 - Institutional Adoption: The Role of TradFi in Digital Assets08:51 - Galaxy One Launch: Bridging TradFi and Crypto11:43 - Yield Products: Evaluating Risks and Opportunities14:54 - The Future of Financial Metrics: Nominal vs. Real Returns17:55 - The Wild West of Finance: Embracing Change20:39 - Bridging the Gap: Crypto Services for TradFi23:53 - Incumbents Entering Crypto: Walmart and Stripe's Moves39:51 - The Future of Stablecoins43:50 - Interoperability and User Experience in Finance45:33 - Walmart's Role in Financial Inclusion48:10 - Risks of Stablecoins and Financial Systems49:44 - The Evolving Landscape of Stablecoin Competition53:23 - Credit Market Risks and Financial Distortions01:03:18 - AI's Impact on Venture Capital and Market DynamicsIf 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/QTRResearch/status/1974204995273654475https://www.bloomberg.com/news/articles/2025-10-01/nyc-pilot-funded-by-coinbase-tries-basic-income-payments-in-cryptohttps://www.theblock.co/post/373468/galaxy-launches-galaxyonehttps://finance.yahoo.com/news/wall-street-pivots-morgan-stanley-114628117.htmlhttps://fortune.com/crypto/2025/10/01/stripe-crypto-stablecoins-open-issuance-bridge-blockchain-tempo/https://www.theblock.co/post/373510/standard-chartered-estimates-1-trillion-could-exit-emerging-market-bank-deposits-for-us-stablecoinshttps://murmurationstwo.substack.com/p/the-stablecoin-duopoly-is-endinghttps://www.cnbc.com/2025/10/06/openai-amd-chip-deal-ai.htmlhttps://www.reuters.com/business/ai-venture-funding-continued-surge-third-quarter-data-shows-2025-10-06/https://www.bestbrokers.com/forex-brokers/the-state-of-ai-venture-capital-in-2025-ai-boom-slows-with-fewer-startups-but-bigger-bets/https://x.com/exec_sum/status/1974120982614061197https://bitcoinmagazine.com/markets/wall-street-takes-the-lead-in-bitcoin-options-as-blackrocks-ishares-overtakes-coinbases-deribithttps://ca.finance.yahoo.com/news/blackrocks-ibit-enters-top-20-102855648.htmlhttps://www.theblock.co/post/372763/binance-offers-turn-key-crypto-as-a-service-solution-for-trad-institutions-looking-to-offer-trading-custody-compliance-serviceshttps://www.cnbc.com/2025/10/06/who-is-sanae-takaichi-the-first-woman-set-to-helm-japanese-government.htmlhttps://x.com/LukeGromen/status/1974184554782220583https://x.com/TimmerFidelity/status/1974112204271296790https://www.cnbc.com/2025/10/03/walmart-onepay-is-rolling-out-crypto-to-mobile-banking-app.htmlhttps://x.com/calleymeans/status/1608618928561074177?lang=enKeep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/
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    1 hr and 23 mins
  • The Great Wealth Divide: Why Bitcoin & Gold Are Replacing Bonds

    The Great Wealth Divide: Why Bitcoin & Gold Are Replacing Bonds
    Oct 3 2025

    Connect with Onramp // Onramp Terminal // Tyler Neville on X // Forward Guidance


    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 Tyler Neville

    03:56 — Wartime Finance: Acronym Rescue Playbook

    12:17 — 60/40’s Sunset: A Generational Shift

    21:29 — Saving vs. Investing in a Debasing World

    31:45 — Future of Money: Bitcoin vs. Fiat Rails

    35:42 — Bitcoin as SoV; Treasury Cos—Bridge or Blowup?

    42:35 — ETFs & Access: Gatekeepers, Flows, Plumbing

    01:02:20 — Gold & Bitcoin Gain Share in Reserves

    01:07:54 — Reserve Flip: Gold vs. U.S. Treasuries

    01:13:56 — Sound Assets & Resilience

    01:23:44 — Wrap-Up, Disclaimer, & Outro


    Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.
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    1 hr and 24 mins
  • The Hidden Truth About Tether's $500B Valuation: What Wall Street Isn't Telling You

    The Hidden Truth About Tether's $500B Valuation: What Wall Street Isn't Telling You
    Sep 29 2025
    Connect with Early Riders // Connect with OnrampPresented 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 - Market Sentiment and Predictions02:32 - Tether's Valuation and Market Impact11:00 - AI and Stablecoin Innovations25:11 - Capital Discipline in AI Investments27:32 - The Impact of AI on Capital and Energy30:49 - Universal Basic Income and AI Tokens33:01 - AI's Influence on Stock Market Dynamics34:35 - The Future of Energy and Economic Growth38:40 - Bitcoin as a Hedge Against Capital Destruction41:41 - TradFi's Shift Towards Digital Assets45:45 - Mainstream Adoption of Digital Assets51:37 - The Future of Bitcoin Companies and Market DynamicsIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.cnbc.com/2025/09/23/tether-reportedly-seeks-lofty-500-billion-valuation-in-capital-raise-.htmlhttps://www.forbes.com/sites/digital-assets/2025/09/29/google-ai-stablecoin-payments-a-first-protocol-for-autonomous-agents/https://decrypt.co/340910/morgan-stanley-bitcoin-ethereum-solana-trading-etradehttps://www.theblock.co/post/372531/vanguard-crypto-etf-accesshttps://x.com/EricBalchunas/status/1972615445950701672https://x.com/ReneSellmann/status/1972243094063231458https://x.com/business/status/1971354036524716082https://x.com/JimPethokoukis/status/1970846329791234193https://x.com/GSR_io/status/1971640456871399899https://www.theblock.co/post/372706/swift-blockchain-ledger-consensyshttps://www.theblock.co/post/372627/kraken-mulls-potential-investor-at-20-billion-valuation-ahead-of-planned-ipo-bloomberghttps://www.theblock.co/post/372230/upbit-merge-under-naverhttps://cointelegraph.com/news/circle-examines-reversible-stablecoin-transactionshttps://www.storyboard18.com/brand-marketing/accenture-layoffs-cross-11000-ceo-julie-sweet-warns-of-further-exits-81670.htmhttps://www.youtube.com/watch?v=Pdne9xaRLUcKeep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/
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    59 mins
  • Chasing Yield: Bitcoin Is Money, Everything Else Is Credit

    Chasing Yield: Bitcoin Is Money, Everything Else Is Credit
    Sep 27 2025

    ~ BITCOIN FOR BUSINESSES EP. 2~

    Connect with Onramp⁠ // ⁠Connect with Acropolis⁠ // ⁠Connect with Early Riders

    Presented by Onramp Media in collaboration with Acropolis & Early Riders...

    Bitcoin for Businesses is a bi-weekly podcast for operators. We turn headlines into a playbook, covering custody architecture, board approvals, accounting, financing, and real-world implementation.


    00:00 - Introduction to Bitcoin for Businesses

    01:08 - Insights from Recent Bitcoin Events

    06:09 - Understanding Custody Solutions

    09:00 - Exploring Bitcoin Yield Strategies

    18:19 - The State of Credit Risk in Business

    23:07 - The Role of Bitcoin in Business Revenue

    27:07 - AI and the Future of Value Transfer

    32:08 - The Impact of Y Combinator on Startups


    If you found this valuable, please subscribe to Onramp Media.
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    43 mins
  • The Sovereign Shift: Bitcoin, Gold, & Nation-State Game Theory

    The Sovereign Shift: Bitcoin, Gold, & Nation-State Game Theory
    Sep 26 2025

    Connect with Onramp // Onramp Terminal // Blake Killian, Onramp CMO // New research from BPI


    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 & Blake Killian Joins Onramp as CMO

    03:20 — Blake’s Background and the Marketing Gap in Bitcoin

    06:05 — Clarity, Education, and Overcoming Industry Noise

    12:30 — Nation-State Adoption and Political Implications

    25:10 — Tether’s $500B Play and Branding Power

    36:30 — Treasury Companies, ETFs, and the Custody Conundrum

    42:30 — Multi-Institution Custody and Cutting Through the Noise

    46:24 — Gold’s Resurgence and Bitcoin as Hard Money

    56:50 — China, Global Monetary Shifts, and Sound Money Allies

    01:16:20 — Closing 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.
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    1 hr and 22 mins