TFTC: A Bitcoin Podcast #699: TradFi's Secret War Against Bitcoin with Ryan Lane
32 snips
Dec 29, 2025 Join Ryan Lane, the founder of Empery Digital and former TradFi asset manager, as he dives into his transformation from traditional finance to Bitcoin strategies. He discusses the hidden battles banks wage against Bitcoin, despite their public adoption claims. Explore how regulatory challenges shaped his journey and why he believes sovereign treasury adoption could be the tipping point for Bitcoin's stability. Ryan also highlights the importance of custody practices and shares insights on the impact of prime brokers in the crypto market.
AI Snips
Chapters
Transcript
Episode notes
Launching In A Financial Crisis
- Ryan Lane founded Empery Asset Management in 2008 during the financial crisis and launched with far less capital than planned due to panicked investors.
- He managed cash risk by holding multiple bank accounts and preparing manual wire instructions to move funds quickly.
From Crisis To Liquidity Swing
- COVID created an opposite market from 2008: liquidity flowed freely and many investments were heavily funded and recycled for returns.
- Post-COVID risk capital has been spotty with sector-specific rallies like biotech and AI rather than a broad market rally.
Run Treasuries With Tight Ops And Skill
- Only run a digital-asset treasury if you can custody Bitcoin securely, trade derivatives, and manage low overhead to protect NAV during drawdowns.
- Use derivatives and capital-markets transactions to generate yield and add Bitcoin per share rather than rely on costly outsourced management.