$200 Oil Is Coming and Nobody's Ready | THE ₿ROADCAST EP. 26

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/consultThe 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 EpisodeFour 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.🧠 Chapters00:00 — Energy Crisis & Macro Backdrop04:40 — Inflation Was Never Handled06:47 — The Excuse to Print13:13 — Private Credit Unwind19:20 — Sellers Are Exhausted23:33 — Things Are Breaking31:49 — ETF Inflows & Morgan Stanley38:26 — Fidelity: Getting Off Zero44:25 — Bybit & Proof of Ownership48:28 — Tucker's Gold Scam Exposé53:47 — Australia Pension Fund Allocation54:35 — Last Takes, Outro & Disclaimer💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

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 - Geopolitics, oil, and market volatility11:09 - Crypto market structure: CFTC/SEC clarity and the Clarity Act22:19 - Stablecoin surge: Stripe MPP, and MasterCard/BVNK37:12 - Kraken's frozen IPO and the crypto exchange landscape43:41 - Institutional digital asset adoption: EY/Coinbase survey49:44 - Building Bitcoin-native financial companies53:44 - AI meets capital: OpenAI/Anthropic PE deals and robotics investment1:00:58 - AI agents, Walmart dynamic pricing, and surveillance risk1:05:57 - Building in the new economy and The StablesIf 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/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://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 Back03:51 — Iran, the Strait of Hormuz & the Energy Crisis19:00 — Travis Kalanick's Return & the Plumber Thesis for AI31:10 — Stretch, MicroStrategy & Who's Actually Buying?40:27 — Private Credit Is the New Subprime53:30 — UK Bans Self-Hosted Wallets01:00:01 — 12–24 Months to Serfdom01:06:11 — Druckenmiller Sold the Bottom01:16:49 — The DCA Chart That Ends Every Argument01:20:17 — The Fed Is Trapped & Both Exits Lead to Bitcoin01:25:55 — BitTensor, Distributed AI & You Don't Need a TokenThe ₿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/consultThe 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 EpisodeAI 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.🧠 Chapters00:00 — Intro & Karpathy's AI Disruption Study08:40 — Strait of Hormuz & Oil Shock17:59 — Gold, Oil & the Multipolar Shift22:27 — Wyoming Is Stacking Gold31:49 — Strategy, ETFs & Market Structure40:02 — SEC/CFTC Crypto Guidance46:01 — Bitrefill Hack & Physical Attacks52:43 — The Last Takes59:03 — Outro & Disclaimer💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

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 - Intro and Bitcoin's surge04:41 - Travis Kalanick’s ventures09:07 - Founder-led innovation13:36 - AI in construction16:01 - Business refounding necessity19:02 - AI's impact on jobs22:01 - Market signaling and AI28:38 - Unalterable data repositories33:33 - Bitcoin in digital finance41:14 - Crypto and traditional finance convergence50:34 - Building financial companies with Bitcoin and AI54:32 - Political implications on stablecoins1:02:24 - AI tool vulnerabilities1:06:14 - Data privacy and AIIf 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=46https://www.theblock.co/post/393173/wells-fargo-files-wfusd-trademark-covering-crypto-trading-payments-and-tokenization-services?utm_source=twitter&utm_medium=socialhttps://www.mastercard.com/us/en/news-and-trends/stories/2026/mastercard-crypto-partner-program.html?utm_source=substack&utm_medium=emailhttps://www.theblock.co/post/393721/abra-to-go-public-via-spac-merger-at-750-million-valuation?utm_source=twitter&utm_medium=socialhttps://www.theblock.co/post/392812/stablecoin-fintech-kast-raises-80-million-in-series-a-to-fund-global-expansion?utm_source=telegram1&utm_medium=socialhttps://www.theblock.co/post/392812/stablecoin-fintech-kast-raises-80-million-in-series-a-to-fund-global-expansion?utm_source=telegram1&utm_medium=socialhttps://x.com/pete_rizzo_/status/2033185448026394872?s=46https://www.wsj.com/finance/stocks/nasdaq-partners-with-kraken-in-tokenization-push-135e8112https://x.com/MTanguma/status/2033187728976699843?s=20https://techcrunch.com/2026/03/13/travis-kalanick-launches-a-new-company-called-atoms-focused-on-robotics/https://x.com/cryptopunk7213/status/2031914914768449817?s=46https://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=46https://x.com/trungtphan/status/2032224185335103686?s=46https://x.com/TrungTPhan/status/2032224185335103686?s=20https://x.com/etherealize_io/status/2031444979969647085?s=46Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/

The Last Trade: Jackson, Michael, and Brian break down the US military operation in the Middle East, $120 oil, bitcoin's resilience as a wartime asset, the 20M BTC supply milestone, Kraken's Fed master account, private credit cracking, and the IRS's new crypto audit form.--- 🔸 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/contactThe 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 EpisodeOil spiked to $120, gold is trapped in the desert, private credit gates are closing, and the IRS just rolled out a new form designed to catalog every bitcoin holder's exchange history. Meanwhile, Bitcoin is up 7% since the conflict started and 20 million BTC have now been mined with only 1 million left to go.The crew goes deep on how drone warfare is reshaping geopolitical power dynamics, why Bitcoin's portability advantage over gold has never been more obvious, the Kraken-NASDAQ tokenized equity partnership and Kraken's historic Fed master account, the private credit unraveling from Cliffwater to Blue Owl to BlackRock, and why sellers may finally be exhausted around these levels. Plus a new segment — Signal or Noise — and a reminder from Daniel Batten on why thinking from first principles has never been more important.🧠 Chapters00:00 — Intro & New Format01:30 — The Middle East Conflict04:07 — Drone Warfare & $120 Oil07:36 — Bitcoin Up 7% During a War12:01 — Gold Trapped, Bitcoin Isn't16:40 — Privacy, Chamath & the Open Ledger19:46 — 20 Million BTC Mined25:03 — Signal or Noise: Kraken & Tokenized Trading29:58 — Private Credit Is Cracking37:35 — The IRS Crypto Audit Form53:50 — The Last Takes1:03:24 — Outro & Disclaimer💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

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 to Ledn and Bitcoin Lending03:56 - Discussing the State of Bitcoin Leverage06:42 - Understanding Risks in Bitcoin Lending09:46 - The Impact of Market Dynamics on Bitcoin Lending12:48 - The Importance of Transparency in Lending15:47 - The Role of Institutional Investors in Bitcoin Lending18:45 - Lessons from Venezuela: Mauricio's Journey to Bitcoin21:59 - The Future of Bitcoin Lending and Ledn’s Vision33:20 - The Birth of Ledn: A Solution to a Common Problem35:35 - Understanding ABS: Transforming Bitcoin Lending44:13 - Investment Grade Ratings: A Game Changer for Bitcoin Loans52:20 - The Future of Bitcoin Loans: Bridging Traditional and Crypto Finance59:16 - Navigating Competition: Banks Entering the Bitcoin SpaceIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly.Links discussed:https://www.galaxy.com/insights/research/state-of-crypto-leverage-q4-2025https://finance.yahoo.com/news/blockfills-ceo-exits-75-million-205445687.htmlhttps://www.theblock.co/post/392732/crypto-lender-blockfills-restructuring-after-halting-withdrawals-lawsuit-fthttps://www.ledn.io/post/ledn-abshttps://www.ledn.io/post/tether-invests-in-lednhttps://www.ledn.io/post/ledn-posts-record-q3Keep up with Mauricio:https://x.com/cryptonomistahttps://www.linkedin.com/in/mauricio-di-bartolomeo-780284101/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Brian:https://x.com/BackslashBTChttps://www.linkedin.com/in/brian-cubellis-00b1a660/

In Episode 25 of The ₿roadcast, Bram Kanstein, Michael Tanguma, and special guest Matt Odell break down the most important Bitcoin and macro developments from the past few weeks.00:00 — Intro & Welcome Matt Odell02:55 — Assassination Markets & the Polymarket Phenomenon09:16 — AI Is Eating White Collar Jobs & Nobody's Ready24:26 — The Dot Plot Has Never Been Wider36:48 — What Dalio & Chamath Get Wrong About Bitcoin45:41 — Gold Has Counterparty Risk Too49:43 — ETFs Stripped Bitcoin of Its Safe Haven Properties01:01:39 — TradFi Is in Its 2017 Crypto Moment01:07:32 — Bitwise Showed Up, Saylor Tried to Stop It01:17:13 — DATs Are Puking & Saylor's Hoarding CashThe ₿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: James Camp, co-founder of APFX, joins the crew to break down the multi-trillion dollar AI agent economy, why Bitcoin and stablecoins aren't in competition, and why the next bull market has nothing to do with retail investors.--- 🔸 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/contactJames Camp on X: https://x.com/JamesonCampWebsite: https://james.camp/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 EpisodeA multi-trillion dollar economy is being built beneath the one you know. James Camp — pragmatist, Bitcoiner, and AI implementation consultant — joins the crew to map out the agent economy taking shape right now, why AI agents will likely settle on Bitcoin as a long-term store of value even as stablecoins handle day-to-day transactions, and what the Jack Dorsey/Block layoffs actually signal about where corporate America is headed.The conversation covers quantum FUD, the order of operations for hyperbitcoinization, why the average American doesn't need to care about Bitcoin for it to win, and what it means to be a pragmatist before you're a Bitcoiner.🧠 Chapters00:00 — Intro & James's Bitcoin Origin Story08:30 — How AI Agents Prefer to Transact16:45 — Bitcoin vs. Stablecoins: Why Both Win24:00 — BPI's AI Agent Monetary Study31:15 — Jack Dorsey, Layoffs & Financial Engineering42:00 — Quantum FUD & Why It's Mostly Noise49:30 — The Invisible Hand & Where Capital Flows Next57:00 — Intermediaries, Self-Custody & the Middle Ground1:04:00 — Cyborgs, Brain Chips & the Amish Option1:10:00 — The Poorest of the Rich: James's 5-Year Bet1:14:00 — Outro & Disclaimer💡 Subscribe & Stay AheadGet Onramp’s weekly Research & Analysis:High-signal insights in bitcoin, macro, and custody.📩 https://onrampbitcoin.com/researchSubscribe to Onramp Media for more:🎧 The Last Trade | Final Settlement | Scarce Assets

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 Context Setting02:52 - Layoffs and Market Reactions06:09 - AI's Impact on Workforce and Economy08:55 - The Role of Technology in Business11:48 - Long-term Economic Perspectives14:48 - The Future of AI and Consumer Spending17:49 - Stablecoins and Financial Innovations25:36 - The Rise of Stablecoins and Payment Companies29:48 - Banking Innovations and Digital Asset Custody34:43 - Consumer Behavior and Bitcoin Adoption39:38 - The Future of AI Agents and Marketplaces45:38 - Bitcoin Adoption Trends and Institutional InterestIf 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/balajis/status/2027146933136150867?s=46https://www.coindesk.com/business/2026/02/24/mark-zuckerberg-s-meta-is-planning-stablecoin-comeback-in-the-second-half-of-this-yearhttps://x.com/segall_max/status/2026313469960896538?s=20https://www.theblock.co/post/391123/fintech-giant-stripe-circles-possible-paypal-acquisition-bloomberg?utm_source=telegram1&utm_medium=socialhttps://www.theblock.co/post/391244/stripe-co-founder-predicts-torrent-of-ai-agent-commerce-powered-by-stablecoinshttps://x.com/zoomerfied/status/2027504105753649318?s=20https://x.com/bank_reg/status/2027408867093836017?s=20https://x.com/TFTC21/status/2027383251522773238?s=20https://decrypt.co/359312/morgan-stanley-offer-bitcoin-custody-trading-yield-lending-exechttps://x.com/bank_reg/status/2027408867093836017?s=20https://x.com/cultured/status/2026677118701289897https://www.theblock.co/post/391275/circle-shares-25-earnings-beat-allaire-usdc-transactions-50-share?utm_source=telegram1&utm_medium=socialhttps://river.com/content/bitcoin-adoption-2026Keep up with Michael:https://x.com/MTangumahttps://www.linkedin.com/in/mtanguma/Keep up with Liam:https://x.com/Lnelson_21https://www.linkedin.com/in/liam-nelson1/Keep up with Jackson:https://x.com/macrojack21https://www.linkedin.com/in/jacksonmikalic/