In Episode 27 of The ₿roadcast, Bram Kanstein, Brian Cubellis, and Michael Tanguma break down the most important Bitcoin and macro developments from the past few weeks.

0:00 — Quantum Panic or Quantum Grift?

4:28 — Follow the Incentives

9:34 — Bitcoin Will Adapt

12:45 — Settlement in a Fractured World

15:30 — Buffett Finally Tells the Truth

24:07 — Diamonds Are Dying

27:18 — Gold vs. Bitcoin Gets Heated

33:45 — Defend Your Zero Allocation

37:35 — OpenAI's Valuation Problem

40:40 — Just Do Things

45:57 — AI Is Curing Cancer

51:20 — Closing Thoughts

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: Jackson, Michael, and Brian break down the Google quantum whitepaper hype, the Strait of Hormuz crisis going binary, Oracle's 30,000-person layoff wave, Warren Buffett calling for 0% inflation, and why ground beef at $7 a pound tells you everything the CPI won't.

---

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

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

👉 Dynasty Trusts: https://onrampbitcoin.com/products/dynasty-trusts

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

📩 Schedule a consultation: https://onrampbitcoin.com/consult

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.

🎙️ About This Episode

Google's quantum AI lab dropped a new paper and the panic merchants are back on schedule. The crew separates the theoretical from the existential, flags the incentive structures behind the loudest voices, and explains why bitcoin's conservative development ethos is a feature, not a bug. From there, the conversation shifts to the Strait of Hormuz and the JP Morgan supply map showing US deliverables running dry by mid-April. Oracle cuts 30,000 employees in a single morning email and the stock rallies. Six of the Mag Seven are already in bear markets while the index pretends everything is fine. And then Warren Buffett says what bitcoiners have been saying for years: the Fed's inflation target should be zero. Ground beef is up nearly 100% since 2019. The compounding works both ways.

🧠 Chapters

00:00 — Google Quantum Whitepaper Breakdown

06:08 — Soft Forks, Migration Paths & Why Haste Is Risk

07:29 — Incentives & the Conflict of Interest Question

13:30 — Hormuz: Binary Outcome, Global Consequences

15:36 — JP Morgan Supply Map & the April 15th Cliff

19:29 — COVID Parallels & the Coordination Pattern

23:15 — Market Signals & Trump's Shifting Timeline

26:09 — Abundance Ending, Counterparty Risk Rising

28:18 — CNBC Turmoil Indicator: 40% Average Return

31:05 — Oracle Lays Off 30,000: AI Cover or ZIRP Hangover

36:42 — Mag Seven Bear Markets: Signal or Noise

41:44 — Warren Buffett Says 0% Inflation Target

46:49 — Ground Beef at $7: The Real CPI

50:50 — Coinbase Gambling vs. Wealth Preservation

54:33 — Golf Courses vs. Data Centers & Last Takes

💡 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.

Chapters

00:00 - Morgan Stanley Enters the Bitcoin ETF Race

09:53 - The Implications of Morgan Stanley's Strategy

21:23 - Coinbase's Bitcoin-Backed Mortgages

28:59 - Stablecoin Clarity Act and Market Dynamics

32:51 - The Future of Banking in Crypto

34:08 - Market Dynamics and IPO Insights

38:02 - Legal Challenges in the Crypto Space

42:30 - The Evolution of Bitcoin as a Treasury Asset

45:52 - AI's Impact on the Financial Sector

50:43 - Square's Bitcoin Payment Innovations

54:14 - Tether's Audit and Market Trust

56:44 - The Role of AI in Business Growth

01:00:31 - Long-Term Thinking in a Short-Term Market

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 Liam:

https://x.com/Lnelson_21

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

Keep up with Brian:

https://x.com/BackslashBTC

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

The Last Trade: Jackson, Michael, and Brian break down Operation Epic Fury's energy shock, private credit gates, the wealth gap going parabolic, Morgan Stanley's Bitcoin ETF, Fidelity's case for getting off zero, and why the money printer excuse just arrived.

---

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

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

👉 Dynasty Trusts: https://onrampbitcoin.com/products/dynasty-trusts

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

📩 Schedule a consultation: https://onrampbitcoin.com/consult

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.

🎙️ About This Episode

Four weeks into the Iran conflict and the system is cracking. Inflation expectations are reversing, private credit funds are gating withdrawals, and the Philippines just declared a national energy emergency. The Fed is boxed in — can't cut, shouldn't hike, and the excuse to print is writing itself. Meanwhile, Morgan Stanley is about to launch a Bitcoin ETF that will force active solicitation over latent demand, Fidelity says fiduciaries at zero need a reason they don't have, and Bybit's proof of reserves exposes why snapshots aren't security. The crew makes the case that the big print is coming — and Bitcoin is the exit.

🧠 Chapters

00:00 — Energy Crisis & Macro Backdrop

04:40 — Inflation Was Never Handled

06:47 — The Excuse to Print

13:13 — Private Credit Unwind

19:20 — Sellers Are Exhausted

23:33 — Things Are Breaking

31:49 — ETF Inflows & Morgan Stanley

38:26 — Fidelity: Getting Off Zero

44:25 — Bybit & Proof of Ownership

48:28 — Tucker's Gold Scam Exposé

53:47 — Australia Pension Fund Allocation

54:35 — Last Takes, 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 - Geopolitics, oil, and market volatility

11:09 - Crypto market structure: CFTC/SEC clarity and the Clarity Act

22:19 - Stablecoin surge: Stripe MPP, and MasterCard/BVNK

37:12 - Kraken's frozen IPO and the crypto exchange landscape

43:41 - Institutional digital asset adoption: EY/Coinbase survey

49:44 - Building Bitcoin-native financial companies

53:44 - AI meets capital: OpenAI/Anthropic PE deals and robotics investment

1:00:58 - AI agents, Walmart dynamic pricing, and surveillance risk

1:05:57 - Building in the new economy and The Stables

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 Liam:

https://x.com/Lnelson_21

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

Keep up with Brian:

https://x.com/BackslashBTC

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

In Episode 26 of The ₿roadcast, Bram Kanstein, Brian Cubellis, and Michael Tanguma break down the most important Bitcoin and macro developments from the past few weeks.

00:00 — Intro & Brian's Back

03:51 — Iran, the Strait of Hormuz & the Energy Crisis

19:00 — Travis Kalanick's Return & the Plumber Thesis for AI

31:10 — Stretch, MicroStrategy & Who's Actually Buying?

40:27 — Private Credit Is the New Subprime

53:30 — UK Bans Self-Hosted Wallets

01:00:01 — 12–24 Months to Serfdom

01:06:11 — Druckenmiller Sold the Bottom

01:16:49 — The DCA Chart That Ends Every Argument

01:20:17 — The Fed Is Trapped & Both Exits Lead to Bitcoin

01:25:55 — BitTensor, Distributed AI & You Don't Need a Token

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: Jackson, Michael, and Brian break down AI job displacement, the Strait of Hormuz oil shock, hot PPI data, Wyoming hoarding gold, ETF inflows resuming, the Bitrefill hack, and why the Fed is trapped like a rat.

---

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

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

👉 Dynasty Trusts: https://onrampbitcoin.com/products/dynasty-trusts

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

📩 Schedule a consultation: https://onrampbitcoin.com/consult

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.

🎙️ About This Episode

AI is coming for 42% of U.S. jobs, the Strait of Hormuz is putting 20M barrels a day at risk — 7x the scale of the Russia-Ukraine oil shock — and PPI just came in hot before oil prices are even reflected. The Fed can't raise, can't cut, and stagflation is setting in. Meanwhile, Wyoming is stashing physical gold in state reserves, the SEC just declared most digital assets aren't securities, and North Korea hit Bitrefill while physical attacks on Bitcoiners are running at 2x last year's pace.

The crew goes deep on why this Middle East crisis is structurally worse than 2022, how the U.S. strategic petroleum reserve is already depleted, the case for states accumulating sovereign hard money reserves, why ETF inflows resuming after a five-session streak matters for market structure, the counterparty risk embedded in Strategy's growing BTC stockpile, and why the SEC/CFTC guidance is both bullish for Bitcoin's price and bearish for humanity. Plus — Signal or Noise returns, and Jackson makes the case that you should stop banking on Bitcoin to save you.

🧠 Chapters

00:00 — Intro & Karpathy's AI Disruption Study

08:40 — Strait of Hormuz & Oil Shock

17:59 — Gold, Oil & the Multipolar Shift

22:27 — Wyoming Is Stacking Gold

31:49 — Strategy, ETFs & Market Structure

40:02 — SEC/CFTC Crypto Guidance

46:01 — Bitrefill Hack & Physical Attacks

52:43 — The Last Takes

59:03 — 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 - Intro and Bitcoin's surge

04:41 - Travis Kalanick’s ventures

09:07 - Founder-led innovation

13:36 - AI in construction

16:01 - Business refounding necessity

19:02 - AI's impact on jobs

22:01 - Market signaling and AI

28:38 - Unalterable data repositories

33:33 - Bitcoin in digital finance

41:14 - Crypto and traditional finance convergence

50:34 - Building financial companies with Bitcoin and AI

54:32 - Political implications on stablecoins

1:02:24 - AI tool vulnerabilities

1:06:14 - Data privacy and AI

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/timmyhmshen/status/2033373162256118219?s=46

https://www.theblock.co/post/393173/wells-fargo-files-wfusd-trademark-covering-crypto-trading-payments-and-tokenization-services?utm_source=twitter&utm_medium=social

https://www.mastercard.com/us/en/news-and-trends/stories/2026/mastercard-crypto-partner-program.html?utm_source=substack&utm_medium=email

https://www.theblock.co/post/393721/abra-to-go-public-via-spac-merger-at-750-million-valuation?utm_source=twitter&utm_medium=social

https://www.theblock.co/post/392812/stablecoin-fintech-kast-raises-80-million-in-series-a-to-fund-global-expansion?utm_source=telegram1&utm_medium=social

https://www.theblock.co/post/392812/stablecoin-fintech-kast-raises-80-million-in-series-a-to-fund-global-expansion?utm_source=telegram1&utm_medium=social

https://x.com/pete_rizzo_/status/2033185448026394872?s=46

https://www.wsj.com/finance/stocks/nasdaq-partners-with-kraken-in-tokenization-push-135e8112

https://x.com/MTanguma/status/2033187728976699843?s=20

https://techcrunch.com/2026/03/13/travis-kalanick-launches-a-new-company-called-atoms-focused-on-robotics/

https://x.com/cryptopunk7213/status/2031914914768449817?s=46

https://techstartups.com/2026/03/13/meta-plans-massive-layoffs-of-up-to-20-of-the-workforce-to-offset-soaring-ai-costs/

https://x.com/markgadala/status/2033230495283351624?s=46

https://x.com/trungtphan/status/2032224185335103686?s=46

https://x.com/TrungTPhan/status/2032224185335103686?s=20

https://x.com/etherealize_io/status/2031444979969647085?s=46

Keep up with Michael:

https://x.com/MTanguma

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

Keep up with Liam:

https://x.com/Lnelson_21

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

Keep up with Brian:

https://x.com/BackslashBTC

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