What is the debasement trade and why it matters

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Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.

00:00 - Introduction and Overview of Recent Events

02:53 - Texas Capital Markets and Blockchain Summit Insights

05:59 - Understanding the Debasement Trade and Fiscal Policies

08:40 - Market Reactions to Recent Economic Announcements

12:07 - The Fragility of the Crypto Ecosystem

14:53 - Lessons from Recent Market Volatility

17:44 - The Role of Bitcoin in a Volatile Market

20:55 - The Future of Prediction Markets and Information Discovery

30:35 - The Nuances of Prediction Markets

32:45 - Square's AI Voice Ordering and Bitcoin Integration

37:55 - Traditional Finance Meets Digital Assets

42:17 - Sovereign Adoption of Bitcoin

49:42 - The Risks in Capital Markets and First Brands

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Links discussed:
https://www.theblock.co/post/374266/crypto-liquidations-near-10-billion-in-historic-drawdown-following-trumps-100-tariffs-on-china
https://www.cnbc.com/2025/10/10/morgan-stanley-drops-crypto-fund-restrictions-for-wealth-clients.html
https://blockworks.co/news/bank-of-russia-limited-crypto
https://www.theblock.co/post/374286/rwa-giant-securitize-eyeing-public-listing-via-cantor-fitzgerald-spac-at-unicorn-valuation-bloomberg
https://techcrunch.com/2025/10/10/kalshi-hits-5b-valuation-days-after-rival-polymarket-gets-2b-nyse-backing-at-8b/
https://techcrunch.com/2025/10/08/square-launches-ai-voice-ordering-and-an-integrated-bitcoin-solution-for-merchants/
https://www.theblock.co/post/373957/paypay-acquires-40-stake-in-binance-japan?utm_source=rss&utm_medium=rss
https://www.prnewswire.com/news-releases/galaxy-announces-460-million-strategic-investment-from-a-leading-asset-management-firm-302581126.html
https://x.com/unusual_whales/status/1977710157766307970
https://x.com/matthew_sigel/status/1976251057421647886
https://x.com/gladstein/status/1976684360754684366
https://x.com/nextfckingthing/status/1977072040227045729
https://x.com/kaledora/status/1977138503382413777
https://x.com/web4O/status/1977109201311908304
https://x.com/_Checkmatey_/status/1977112327704268833
https://finance.yahoo.com/news/wall-street-pivots-morgan-stanley-114628117.html
https://blockworks.co/news/morgan-stanley-crypto-access
https://x.com/HighyieldHarry/status/1976107853695107382

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/