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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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

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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 - 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