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.
