Early Riders Media

Early Riders

A weekly podcast covering the underlying mechanics of the bitcoin protocol, its ongoing development, project funding, and real-world applications of the technology

  1. Sep 29

    This Chart Exposed The AI Trade and Loves Bitcoin

    One chart from Epoch AI shows the cost of AI falling about 47% a quarter since 2023, faster than any technology in history, and it exposes the math under the AI trade. Michael, Liam and Brian on why cheap intelligence competes away profit, and why Bitcoin is the scarce unit left. BOOK A CONSULTATION Holding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three institutions protect it, and no single one can lose it, move it, or use it. Inheritance built in. Insured through Lloyd's of London. Speak with our team to see if it fits. 👉 https://go.onrampbitcoin.com/consult-fs-pod GET ON THE LIST • Onramp: our research, event invites, and the week's Bitcoin news in one free email. https://go.onrampbitcoin.com/research-fs-pod • Early Riders Insights: the best content in the ecosystem, weekly. https://www.earlyriders.com/research ABOUT THIS EPISODE Eight major AI models shipped in two weeks, open-weight models now carry most of the tokens on Vercel's AI Gateway, Oracle invoked force majeure on a Stargate site, and Epoch AI finds the cost of a given level of performance has fallen about 47% a quarter since 2023. Michael's read is that AI will compete away the profits it touches, which makes the scarce unit in an abundant world the question that matters. From there the three of them work through Amazon blocking Meta's Muse while Shopify opens its merchants to it, Block bringing Bitcoin Lightning payments to x402 for AI agents, the Open USD stablecoin consortium, the CFTC's call to prepare for mass tokenization, Citi and Coinbase, BlackRock's model portfolios on Ondo, Binance's $100 million stake in Circle, and Apollo's warning that agents could set off a bank run. The single point of failure of the week is the roughly $350 million Bitget hack, linked to North Korea. CHAPTERS 00:00 - Eight AI models in two weeks: what the singularity looks like 03:53 - Open-weight models, Oracle's Stargate notice, and Jevons paradox 07:15 - Frontier versus open models, and why the harness holds the value 10:46 - Amazon blocks Muse, Shopify opens the door 16:57 - Why blocking bots fails, and why agents may raise prices 23:13 - Block brings Bitcoin Lightning to x402 for AI agents 26:26 - What if the ads of the agent internet are just money? 29:07 - Open USD: Stripe, Visa, Mastercard, Coinbase and Shopify 30:56 - Mass tokenization, from the CFTC to the ECB's Pontes 33:51 - Citi and Coinbase, BlackRock on Ondo, Binance into Circle 36:50 - Stablecoins as the onramp, and the agentic bank run 41:02 - If intelligence is free, where does alpha come from? 44:09 - Single point of failure of the week: the Bitget hack 48:35 - Russia tells investors to eat stablecoin freeze losses 50:16 - The Epoch AI chart: cheaper faster than any tech in history ABOUT THE SHOW Final Settlement is a weekly show on capital markets, dealmaking, early-stage venture, Bitcoin applications, and protocol development, presented by Early Riders and Onramp Media with Michael Tanguma, Liam Nelson, and Brian Cubellis. • Connect with Early Riders: https://www.earlyriders.com/contact • Michael: https://x.com/MTanguma · Liam: https://x.com/Lnelson_21 · Brian: https://x.com/BackslashBTC ▶️ Watch the video: [YouTube link for this episode] MORE FROM ONRAMP MEDIA • The Last Trade and First Principles: https://www.youtube.com/@OnrampMedia • Signal vs Noise, live twice a week: https://www.youtube.com/@SignalvsNoiseLIVE • Audio, every show: https://podcasts.apple.com/us/podcast/id1690709152 or search Onramp Bitcoin Media on Spotify • News and data: https://onramp.media Onramp does not provide financial, tax, or legal advice. Nothing here is a recommendation to buy or sell any asset. This episode is for entertainment purposes only.

    This Chart Exposed The AI Trade and Loves Bitcoin
  2. Sep 28

    AI Just Bailed Out Bitcoin Mining | Bob Burnett

    AI just bailed out Bitcoin's public miners, and Bob Burnett says that is the healthiest thing to happen to mining in years. Liam sits down with the Ocean executive chairman on falling hash rate, who builds Bitcoin's blocks, and what the BIP-110 fork proved. Guest: Bob Burnett, CEO of Barefoot Mining and executive chairman of Ocean. https://www.barefootmining.com/ BOOK A CONSULTATION Holding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three institutions protect it, and no single one can lose it, move it, or use it. Inheritance built in. Insured through Lloyd's of London. Speak with our team to see if it fits. 👉 https://go.onrampbitcoin.com/consult-fs-pod GET ON THE LIST • Onramp: our research, event invites, and the week's Bitcoin news in one free email. https://go.onrampbitcoin.com/research-fs-pod • Early Riders Insights: the best content in the ecosystem, weekly. https://www.earlyriders.com/research ABOUT THIS EPISODE Bob Burnett was CTO of Gateway before starting Barefoot Mining in 2017, and now chairs the Ocean mining pool. He sorts miners into rabbits, horses and elephants, and argues the elephants' rush into AI hosting is trimming fat that never belonged: public miners have fallen from roughly 38% to 28% of hash rate, and he expects global hash rate to stay flat to down for up to two years. He explains why mining is a commodity business that sells block space, why off grid power beats an on grid contract, and why five pools building 80% of block templates is the risk Ocean and DATUM were built to fix. It closes on Core and Knots, what the BIP-110 fork revealed about consensus, and why Wall Street and nation states will have a voice. CHAPTERS 00:00 - Bob Burnett: Barefoot Mining, Ocean and The Bitcoin Boomers 03:52 - Rabbits, horses and elephants: the three classes of miner 07:07 - Why the public miners pivoted to AI, and why that is healthy 10:40 - Worst hashprice ever, and what AI pays for power 18:07 - Hash rate is falling: is Bitcoin's security at risk 23:24 - Used rigs at dimes on the dollar, and the next mining chips 31:00 - Wild vs captured: why the future of mining is off grid 38:09 - All of Bitcoin mining is a $10 billion business 40:32 - Miners or hashers: five pools build 80% of blocks 46:03 - FPPS vs TIDES: the hidden cost of steady payouts 51:24 - Stratum V2 vs DATUM, and hundreds of templates on Ocean 56:12 - Bitcoin Core, Knots and why process matters 1:03:21 - What the BIP-110 fork taught Bitcoin about consensus 1:10:15 - The tenth man, and Ocean parting ways with Luke Dashjr 1:14:48 - The Bitcoin Boomers, and why boomers aren't the problem ABOUT THE SHOW Final Settlement Interview Series: a one on one interview series hosted by Liam Nelson, Partner at Early Riders. One guest, and a deep conversation on the deals, the capital and the technology moving through bitcoin, so you can hear how the people actually doing the work think about where the future is going. Presented by Early Riders and Onramp Media. • Connect with Early Riders: https://www.earlyriders.com/contact • Liam: https://x.com/Lnelson_21 • Bob Burnett: https://x.com/boomer_btc MORE FROM ONRAMP MEDIA • The Last Trade and First Principles: https://www.youtube.com/@OnrampMedia • Signal vs Noise, live twice a week: https://www.youtube.com/@SignalvsNoiseLIVE • Audio, every show: https://podcasts.apple.com/us/podcast/id1690709152 or search Onramp Bitcoin Media on Spotify • News and data: https://onramp.media Onramp does not provide financial, tax, or legal advice. Nothing here is a recommendation to buy or sell any asset. This episode is for entertainment purposes only.

    AI Just Bailed Out Bitcoin Mining | Bob Burnett
  3. Sep 22

    Why Meta's Muse Forces Rapid Bitcoin Adoption

    Meta shipped Muse to a user base measured in billions, and within days Amazon blocked it from shopping on Amazon.com. Michael, Liam and Brian on why autonomous agents will need a settlement unit, and why that is the clearest path yet to Bitcoin becoming ordinary money. BOOK A CONSULTATION Holding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three institutions protect it, and no single one can lose it, move it, or use it. Inheritance built in. Insured through Lloyd's of London. Speak with our team to see if it fits. 👉 https://go.onrampbitcoin.com/consult-fs-pod GET ON THE LIST • Onramp: our research, event invites, and the week's Bitcoin news in one free email. https://go.onrampbitcoin.com/research-fs-pod • Early Riders Insights: the best content in the ecosystem, weekly. https://www.earlyriders.com/research ABOUT THIS EPISODE Meta's Muse personal agent is the story of the week, and Michael calls it the biggest thing that has happened in AI so far. It is already ordering groceries, booking services and canceling subscriptions for users, and Amazon has cut it off from shopping on Amazon.com. The argument the three of them build from there is that agents traversing the internet will eventually hit monetary friction, that something has to sit between an agent and the open web, and that Meta acquiring Lightspark is the obvious way it gets a payment layer. Earlier in the show they work through the SEC's five year innovation exemption, which opens tokenized equity trading without the Clarity Act, and what Goldman and Citizens analysts read into it for Coinbase, Robinhood and Circle. The back half covers TypeSafe's Jev model, Tether's $1.45 billion position at Gold.com, and stablecoin hiring at Apple and Google. CHAPTERS 00:00 - Bitcoin rips overnight, and the leverage that got washed out 05:29 - Bitcoin climbs after a rate hike, which is not how this usually goes 07:15 - The SEC's innovation exemption lands without the Clarity Act 09:26 - Why a securities rule matters for a commodity 13:33 - Goldman and Citizens: Coinbase, Robinhood and Circle win 15:48 - Circle's Arc, eleven validators, and what decentralized is not 18:25 - The banks sat this one out, and why that ages badly 23:13 - The tokens will flow: OpenRouter usage up 25,000% 27:14 - Jev, and the case against burning tokens to make a decision 33:29 - Meta ships Muse, the biggest AI moment yet 38:44 - Amazon cuts off Muse, and the agent knife fight begins 42:32 - Why Meta buying Lightspark is the obvious next move 46:45 - Instinct raises at $10 billion, and the paper gain problem 50:39 - Tether becomes a bullion bank, and Big Tech hires for stablecoins 58:40 - Single point of failure of the week: California's AI kill switch ABOUT THE SHOW Final Settlement is a weekly show on capital markets, dealmaking, early-stage venture, Bitcoin applications, and protocol development, presented by Early Riders and Onramp Media with Michael Tanguma, Liam Nelson, and Brian Cubellis. • Connect with Early Riders: https://www.earlyriders.com/contact • Michael: https://x.com/MTanguma · Liam: https://x.com/Lnelson_21 · Brian: https://x.com/BackslashBTC ▶️ Watch the video: [YouTube link for this episode] MORE FROM ONRAMP MEDIA • The Last Trade and First Principles: https://www.youtube.com/@OnrampMedia • Signal vs Noise, live twice a week: https://www.youtube.com/@SignalvsNoiseLIVE • Audio, every show: https://podcasts.apple.com/us/podcast/id1690709152 or search Onramp Bitcoin Media on Spotify • News and data: https://onramp.media Onramp does not provide financial, tax, or legal advice. Nothing here is a recommendation to buy or sell any asset. This episode is for entertainment purposes only.

    Why Meta's Muse Forces Rapid Bitcoin Adoption
  4. Sep 15

    CLARITY is Coming Whether You Like It Or Not

    New Clarity Act text dropped overnight ahead of a Senate vote on September 15, with the ethics sunset deleted and the ban broadened. Michael, Liam and Brian on why the institutional money is still on the sidelines waiting to see whether the United States fully commits. BOOK A CONSULTATION Holding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three institutions protect it, and no single one can lose it, move it, or use it. Inheritance built in. Insured through Lloyd's of London. Speak with our team to see if it fits. 👉 https://go.onrampbitcoin.com/consult-fs-pod GET ON THE LIST • Onramp: our research, event invites, and the week's Bitcoin news in one free email. https://go.onrampbitcoin.com/research-fs-pod • Early Riders Insights: the best content in the ecosystem, weekly. https://www.earlyriders.com/research ABOUT THIS EPISODE Michael, Liam and Brian open on the Clarity Act, where new text dropped overnight ahead of a Senate vote on September 15, the ethics sunset was deleted entirely, and the ban got broader and enforceable by state attorneys general. They get into why the agencies are moving with or without the bill, the 17 attorneys general lining up against it, and why so much institutional money is still waiting to see whether the United States fully commits. The middle of the show is Dario Amodei's Pacing the Frontier essay and the responses from Trump, Sam Altman, Elon Musk and David Sacks, including whether this is the SBF playbook running again and what the IPO timing says about the motive. The back half runs through Nasdaq putting $100 million into Kraken's parent, TRM Labs doubling to a $2 billion valuation, Tether's $400 million private credit joint venture, and Block applying to the OCC for Builders Bank. CHAPTERS 00:00 - Live on a Monday, and the 10 year at 5% 01:06 - The Clarity Act text gets rewritten overnight 03:50 - What the new ethics provisions actually ban 07:01 - Why stablecoins make Clarity strategically urgent 08:57 - The agencies move with or without the bill, and 17 AGs push back 13:27 - Polymarket: 82% in February, 14% in August, 30% now 15:10 - Dario Amodei's Pacing the Frontier essay 18:39 - Is this the SBF playbook running again? 22:46 - Trump, Altman, Musk and David Sacks respond 28:58 - IPO timing, the duopoly, and why you cannot police China 33:50 - Nasdaq puts $100 million into Kraken's parent 37:10 - TRM Labs doubles to a $2 billion valuation 39:01 - Tether's $400 million private credit joint venture 41:51 - Block applies for Builders Bank, plus Coinbase, Bitwise and Canada 46:46 - Single point of failure of the week: the Revolut breach ABOUT THE SHOW Final Settlement is a weekly show on capital markets, dealmaking, early-stage venture, Bitcoin applications, and protocol development, presented by Early Riders and Onramp Media with Michael Tanguma, Liam Nelson, and Brian Cubellis. • Connect with Early Riders: https://www.earlyriders.com/contact • Michael: https://x.com/MTanguma · Liam: https://x.com/Lnelson_21 · Brian: https://x.com/BackslashBTC ▶️ Watch the video: [YouTube link for this episode] MORE FROM ONRAMP MEDIA • The Last Trade and First Principles: https://www.youtube.com/@OnrampMedia • Signal vs Noise, live twice a week: https://www.youtube.com/@SignalvsNoiseLIVE • Audio, every show: https://podcasts.apple.com/us/podcast/id1690709152 or search Onramp Bitcoin Media on Spotify • News and data: https://onramp.media Onramp does not provide financial, tax, or legal advice. Nothing here is a recommendation to buy or sell any asset. This episode is for entertainment purposes only.

    CLARITY is Coming Whether You Like It Or Not
  5. Sep 14

    How AI Just Made Money A Back End Technology | Alfonso Gomez-Jordana

    Connect with Early Riders — https://www.earlyriders.com/contact Connect with Onramp — https://onrampbitcoin.com/contact-us/ Presented collaboratively by Early Riders & Onramp Media… Final Settlement Interview Series: a one on one interview series hosted by Liam Nelson, Partner at Early Riders. One guest, and a deep conversation on the deals, the capital and the technology moving through bitcoin, so you can hear how the people actually doing the work think about where the future is going. Liam sits down with Alfonso Gómez-Jordana, co-founder and CTO of Crossmint, who built Google's "I'm not a robot" captcha as an intern and now builds the payment rails those bots use. His argument is that money is becoming a back end technology: agents will hold the card, pick the rail, convert into stablecoins when an endpoint demands it, and inside of ten years most people will stop looking at prices or approving transactions at all. They get into why MoneyGram is replacing its core with stablecoins and finally monetizing float it never touched, why standing up stablecoin acceptance is now easier than getting a Stripe account, what breaks when a prompt injected agent is spending money that is not its own, and whether Bitcoin stays the neutral settlement asset once data centers find something better to mine. Chapters 00:00 - Alfonso Gómez-Jordana, co-founder and CTO of Crossmint 01:37 - Building "I'm not a robot" at Google, then Firebase and WhatsApp 06:12 - Why an economy of agents needs programmable money 07:53 - Inside Crossmint: wallets, tokenization, licensed fiat swaps 09:50 - The clients: trading apps, MoneyGram, payroll, agent platforms 12:57 - Do stablecoins help remittances, or do they monetize the float 17:59 - The principal agent problem when a bot holds your money 24:57 - Why accepting a card is harder than accepting a stablecoin 26:52 - Hacks, trust, and who decides which rail gets used 30:47 - Tether, Circle, OpenUSD, and whether one stablecoin wins 34:05 - Bitcoin as neutral money, and the compute mined challengers 38:27 - Could Bitcoin's consensus follow AI compute 40:36 - What the industry got wrong about web3 and consumer crypto 43:47 - From meme coins to real assets and tokenized fundraising 47:18 - Euro stablecoins and why every country needs a strategy 53:13 - Past the singularity, money moves to the back end If you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly: https://www.earlyriders.com/research Keep up with Liam: https://x.com/Lnelson_21 Keep up with Alfonso Gómez-Jordana: https://x.com/alfongj

    How AI Just Made Money A Back End Technology | Alfonso Gomez-Jordana
  6. Sep 9

    AI Cybersecurity Just Stole $500M AGAIN (What's Next?)

    Connect with Early Riders — https://www.earlyriders.com/contact Connect with Onramp — https://onrampbitcoin.com/contact-us/ 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. Michael, Liam, and Brian open the first ever Final Settlement live stream on the Liquid Network exploit that drained roughly 4,000 Bitcoin, about $320 million, after the attacker inflated the supply of LBTC and pegged out against reserves the sidechain did not have. They get into hot keys and federation quorums, why the base chain held while the layer above it did not, and where the real spectrum of risk sits between an early stage protocol and a bank. The middle of the show turns to Ben Carmen open sourcing Lightspark's lightning service provider, GPT-6 Astra and the AGI question, and Matt Pines and StarCloud on physical superintelligence. The back half is settlement plumbing: 21 banks including Bank of America, Citi and Goldman lining up behind a joint dollar stablecoin, why the collateral layer is the real prize, the SEC's proposed transfer agent overhaul, Circle buying Tazapay, and the rumor that ARK, BlackRock and Fidelity could trade tokenized funds through a transfer agent alone. They close on AMC's chief executive going after Robinhood over tokenized stock, and the meme coins now paired to it. Chapters 00:00 - The first ever Final Settlement live stream 01:37 - 4,000 Bitcoin drained from the Liquid Network 04:21 - How the LBTC supply was inflated 06:11 - Hot keys, quorums, and why TradFi moves slowly 09:21 - The added risk of moving off the base chain 12:54 - A spectrum of risk, from Mt. Gox to open protocols 15:45 - Ben Carmen open sources Lightspark's LSP 18:56 - GPT-6 Astra, Claude 5.1, and the AGI question 22:27 - Matt Pines, StarCloud, and physical superintelligence 24:26 - 21 banks line up behind a joint stablecoin 25:24 - Why the collateral layer is the real prize 29:37 - Transfer agents, T+0, and who owns the ledger 37:16 - Felix Pago, Open Reserve, and Circle buying Tazapay 41:39 - The rumor: tokenized funds from ARK, BlackRock, Fidelity 45:49 - Pledging your ETF and the daisy chain risk 48:34 - AMC's CEO versus Robinhood on tokenized stock 52:54 - Meme coins paired to tokenized equity If you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly: https://www.earlyriders.com/research Keep up with Michael: https://x.com/MTanguma Keep up with Liam: https://x.com/Lnelson_21 Keep up with Brian: https://x.com/BackslashBTC

    AI Cybersecurity Just Stole $500M AGAIN (What's Next?)
  7. Sep 1

    Bitcoin's Surprise $46B Bid Starts Today

    Connect with Early Riders — https://www.earlyriders.com/contact Connect with Onramp — https://onrampbitcoin.com/contact-us/ 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. Michael, Liam, and Brian open on BitGo acquiring NYDIG's institutional trading business for a reported $42.5 million, and on Russia's largest bank moving to accept Bitcoin, ETH, and USDT as loan collateral while forecasting $46 billion of regulated crypto exchange trading in year one. They get into why a sanctioned, energy rich sovereign is the one recollateralizing first, Blockstream's new post quantum signature proposal, and the SEC sending a crypto custody overhaul to the White House with the Clarity Act stalled. The back half is market plumbing: why settlement is the real prize, the tokenized GLD that spiked to $2,000 on Robinhood over the weekend against $400 for the underlying, bank tokenized deposits, and Robinhood's chain now out-earning every Ethereum L2. They close on Hyperliquid, trading Anthropic shares on entropy.io, the Singularity Stack report, NVIDIA buying Hugging Face for $12.9 billion, and a $400 robot duck that talks over Nostr. Chapters 00:00 - Bessent, Warsh, and the bond market 03:32 - BitGo acquires NYDIG's institutional trading business 07:47 - What BitGo actually gets: liquidity, scale, and stickiness 11:24 - Russia's largest bank moves on BTC, ETH, and USDT 12:56 - Recollateralizing the global financial system 15:34 - Energy rich and sanctioned: why Russia goes first 18:14 - Is the US behind, or already through the door? 20:58 - Blockstream's quantum fix and the Shrinks proposal 24:14 - The SEC preps an overhaul of crypto custody rules 28:35 - Why settlement is the prize: DTC, IOUs, and T+0 33:10 - Tokenized GLD spikes to $2,000 on Robinhood 35:04 - Tokenized deposits, bank consortiums, and JP Morgan 38:31 - Robinhood chain now out-earns every Ethereum L2 43:54 - Hyperliquid, Trump, and 24/7 commodities 47:16 - Trading Anthropic shares on entropy.io 51:12 - The Singularity Stack report and Onramp is hiring 56:13 - NVIDIA buys Hugging Face, and a $400 robot duck on Nostr If you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly: https://www.earlyriders.com/research Keep up with Michael: https://x.com/MTanguma Keep up with Liam: https://x.com/Lnelson_21 Keep up with Brian: https://x.com/BackslashBTC

    Bitcoin's Surprise $46B Bid Starts Today
  8. Aug 25

    Bessent Just Doubled Treasury Buybacks - Did Something Break?

    Connect with Early Riders — https://www.earlyriders.com/contact Connect with Onramp — https://onrampbitcoin.com/contact-us/ 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. The Treasury doubled its bond buyback operation and Bitcoin ran from roughly $63,000 to $80,000 in a week. Michael, Liam, and Brian open on what Bessent actually did, why issuing at the front end to buy the long end is yield curve control without the name, and why gold, oil, and Bitcoin all responded the way the debasement thesis said they would. They get into whether the move was coordinated, what the White House crypto meeting and the SEC's new proposals mean with the Clarity Act stalled, and how tokenized stocks and meme coins are about to make grift a feature of the next cycle. The back half turns to market structure: Citi launching Bitcoin custody, why Bitcoin is a one way street once people understand it, and the honeypot problem banks are walking into. They close on Stripe buying OpenRouter, NVIDIA moving up the AI stack, agentic payments at Ramp, and a leak of API keys from 659 Stripe merchants. Chapters 00:00 - Bitcoin rips from $63K to $80K 02:55 - Bessent doubles the Treasury buyback 05:27 - Why you cannot time Bitcoin's best ten days 07:35 - Revaluing gold and the liquidity sponge trade 11:43 - Tether and the new eurodollar market 12:22 - Bitcoin is back on institutional screens 15:03 - Was this whole move coordinated? 17:49 - The White House crypto meeting and the SEC 20:32 - Tokenized stocks, meme coins, and legalized grift 28:16 - Oil, energy, and nominal versus real wealth 32:19 - Citi launches Bitcoin custody 33:20 - Bitcoin is a one way street 40:44 - The honeypot problem with bank custody 43:56 - Stripe buys OpenRouter and the singularity letter 49:36 - NVIDIA, Perplexity, OpenAI, and Hugging Face 58:20 - Ramp, x402, and agentic payments 1:01:34 - Robots beat Usain Bolt 1:06:20 - Single point of failure: 659 Stripe merchant keys If you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly: https://www.earlyriders.com/research Keep up with Michael: https://x.com/MTanguma Keep up with Liam: https://x.com/Lnelson_21 Keep up with Brian: https://x.com/BackslashBTC

    Bessent Just Doubled Treasury Buybacks - Did Something Break?

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A weekly podcast covering the underlying mechanics of the bitcoin protocol, its ongoing development, project funding, and real-world applications of the technology