Custody, Multi-Institution Models, and Bitcoin’s Institutional Path

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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 - Government Shutdown and Economic Implications

03:03 - Impact of EBT and SNAP on Consumers

05:49 - Ledger IPO and Digital Asset Market Dynamics

08:33 - Ripple's Valuation and Market Positioning

11:52 - FOMO and the Rise of High-Risk Investments

14:42 - Innovations in Payment Systems and Merchant Adoption

37:24 - Coinbase's New Token Launch Platform

44:31 - The Evolution of Custody in Crypto

51:01 - Hedge Funds and the Crypto Conflation

56:25 - DeFi Exploits and the Complexity of Trust

01:01:21 - AI Investments and Public-Private Partnerships

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Links discussed:
https://x.com/LukeGromen/status/1986203411331568041
https://www.theblock.co/post/378115/ledger-considering-new-york-ipo-or-fundraise-as-demand-for-hardware-wallets-climbs-ft
https://www.reuters.com/business/more-than-half-hedge-funds-invested-crypto-global-survey-says-2025-11-06
https://x.com/Balancer/status/1986104426667401241
https://www.cnbc.com/2025/11/05/ripple-gets-40-billion-valuation-after-500-million-funding-round.html
https://techcrunch.com/2025/11/06/why-benchmark-made-a-rare-crypto-bet-on-trading-app-fomo-with-17m-series-a/
https://www.theblock.co/post/377876/arx-research-raises-6-1-million-usd-seed-round-launch-burner-terminal-stablecoin-fiat-point-of-sale-device
https://x.com/KobeissiLetter/status/1987886039847882961?s=20
https://www.nbcnews.com/politics/congress/senators-reach-tentative-deal-end-government-shutdown-rcna242401
https://x.com/zerohedge/status/1987876356345024775
https://x.com/Square/status/1987886908480033186?s=20

Keep up with Michael:

https://x.com/MTanguma
https://www.linkedin.com/in/mtanguma/

Keep up with Brian:

https://x.com/BackslashBTC
https://www.linkedin.com/in/brian-cubellis-00b1a660/

Keep up with Liam:

https://x.com/Lnelson_21
https://www.linkedin.com/in/liam-nelson1/