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.

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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

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🎧 The Last Trade | Final Settlement | Scarce Assets

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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/