In Episode 28 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 - Where Are the Bitcoin Servers Located?

10:38 - Goldman Joins the Bitcoin ETF Game

14:23 - Retail Is Driving This, Not Institutions

25:28 - The Centralization Problem Nobody Wants to Talk About

28:14 - Quantum Panic & BIP-361

36:00 - The Hard Fork Final Boss

43:35 - Bitcoin for Enemies: Iran & the Strait of Hormuz

55:00 - MIC Is How Oil Gets Paid For

56:00 - Anthropic, Intelligence & Energy-Backed Money

01:01:17 - Fiat Debasement Is Mathematically Assured

01:03:24 - The Supply Shock Conversation

01:07:30 - The 21M Cap Is Binary

01:12:06 - Is Destroying Civilization Upside or Downside Risk?

01:14:24 - Tether's Unified Wallet

01:17:06 - America's Forgotten War on Central Banks

01:22:10 - The Money Failed, Not the Democracy

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 Saylor's Stretch product absorbing 10k BTC per day, the Goldman Bitcoin ETF filing, Kevin Warsh's crypto portfolio, Justin Sun suing Trump, Allbirds pivoting from shoes to AI, & why record consumer pessimism makes the case for bitcoin.

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🔸 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

Stretch is now the marginal buyer of bitcoin and the crew breaks down why marketing it as "money-market-like" is misleading when it's preferred equity with no legal claim on the bitcoin. Meanwhile, treasury companies have quietly sold their holdings while nobody noticed, Goldman filed a Bitcoin Premium Income ETF, Justin Sun is suing the Trump family over World Liberty Financial, and Allbirds pivoted from shoes to AI and mooned 800%. A record 54% of Americans say their financial situation is worse than a year ago, inflation expectations just hit 4.8%, and the case for holding spot bitcoin has never been clearer.

🧠 Chapters

00:00 — Back to All-Time Highs (Except Bitcoin)

02:33 — Stretch: Marketing vs The Real Risks

09:07 — Don't Mess Up the Monetization Phase

13:20 — Treasury Companies Quietly Selling Bitcoin

19:32 — Retail vs. Institutional: Both Sides of the Mouth

22:01 — Kevin Warsh's Crypto Portfolio

25:18 — World Liberty Financial & Justin Sun

28:58 — Goldman's Bitcoin ETF Filing

38:02 — Allbirds Pivots to AI, Moons 800%

42:42 — Record Consumer Pessimism

47:41 — Fake Ledger App Drains $9.5M

56:42 — Last Takes: Gold Exports & Intangible Value

💡 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 - Bullish Tailwinds for Bitcoin

02:12 - Geopolitical Implications of Bitcoin

07:25 - Bitcoin's Role in Global Settlements

17:01 - Morgan Stanley's ETF Launch and Market Strategy

29:25 - The Clarity Act and Digital Assets

36:06 - Global Regulatory Trends in Crypto

41:23 - Tokenization and Market Dynamics

49:56 - Private Credit and Blockchain Innovations

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/

Links Discussed:

https://x.com/simplybitcoin/status/2042387498752512508?s=46&t=PV2x02cG_nl7mRDNaKNUMA

https://fortune.com/2026/04/10/iran-strait-of-hormuz-crypto-tolls-stablecoins-bitcoin-oil-tankers/

https://www.wsj.com/opinion/digital-assets-rules-need-clarity-6dfcab70

https://www.theblock.co/post/396692/standard-chartered-weighs-integrating-zodia-custody-corporate-bank-arm-bloomberg?utmsource=rss&utmmedium=rss

https://x.com/roshanaslam21/article/2041088805634179471

https://bitcoinmagazine.com/news/japan-moves-to-classify-bitcoin-and-crypto

https://finance.yahoo.com/markets/stocks/articles/gemini-stock-jumps-10-takeover-195300447.html?guccounter=1

https://www.americanbanker.com/news/securitize-appoints-former-sec-official-as-president

https://fortune.com/2026/03/30/valinor-seed-round-25-million-crypto-private-credit-blackstone-staffers/

https://x.com/watcherguru/status/2041767629153550636?s=46

https://x.com/MTanguma/status/2043697065503363096

The Last Trade: Jackson, Michael, and Brian break down Morgan Stanley's Bitcoin ETF launch, the FDIC greenlighting the Genius Act, a Tennessee wrench attack ring hunting bitcoiners through DoorDash, Anthropic's Project Glasswing, and why bitcoin's 175% run during QT kills any bear argument.

---

🔸 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

Morgan Stanley just launched its bitcoin ETF at 14bps, undercutting BlackRock and coming for a $10 trillion wealth platform — the most bullish signal of the cycle hiding in plain sight. The FDIC finally blessed Genius Act implementation, Jamie Dimon is warning JPM has to move faster on tokenization or get Blockbustered, and a Blockware chart shows bitcoin ran 175% during the most aggressive tightening cycle on record. A Tennessee crime ring got busted running wrench attacks through hacked DoorDash accounts, physical attacks on holders are up 75%, and Anthropic's Project Glasswing is exposing a new AI attack surface while the crypto world front-runs its own quantum existential crisis. Security that scales with the stakes has never mattered more.

🧠 Chapters

00:00 — Monitoring the Situation: Theater vs Substance

04:19 — Energy Shortages & COVID Parallels

07:09 — Cash, Gold, Bitcoin & the Optionality Portfolio

13:20 — Capital Flows East: Oil, Stablecoins & the Yuan Toll

23:25 — The Wall Street Wave: MSBT Goes Live

28:18 — Schwab, Cycles & Why Individuals Are Smart Money

37:30 — FDIC Blesses the Genius Act & Tokenization

42:45 — The Chart That Destroys the ZIRP Bitcoin Thesis

47:51 — The $40M DoorDash Wrench Attack Ring

55:12 — Project Glasswing, Mythos & the AI Attack Surface

1:01:15 — The Bridge From ETFs to Real Ownership

1:05:00 — Last Takes: Broken Money, Inflation & Security That Scales

💡 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 - Introduction and New Beginnings

01:27 - The Drift Hack: A New Era of Crypto Exploits

08:02 - Real-World Implications of Digital Security

14:25 - The Intersection of Digital Assets and Banking

19:56 - Challenges in Custody and Perception of Digital Assets

24:46 - Quantum Concerns and Institutional Hesitance

29:02 - Understanding Qubits and Quantum Computing

30:41 - The Perception of Bitcoin and Quantum Threats

31:36 - Cross-Border Money Movement Innovations

35:01- The Acquisition of TBPN by OpenAI

45:44 - Bitcoin-Backed Municipal Bonds in New Hampshire

47:49 - Paradigm's Entry into Prediction Markets

49:44 - AI's Impact on Corporate Structures and Layoffs

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 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/