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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.
This week Michael, Liam, and Brian break down the banks' accelerating tokenization push: BlackRock, Goldman Sachs, and JPMorgan joining a 54-firm UK tokenization task force, Swift's blockchain ledger pilot with 17 banks, and what it means for Bitcoin's role in the emerging plumbing. They dig into Satya Nadella's AI sovereignty thesis, Microsoft's Frontier Company data play, Apple's lawsuit against OpenAI, and the Fed's new AI task force under Kevin Warsh. The guys run through a stack of deals: TerraWolf's $19 billion Anthropic infrastructure agreement, OLAMA's $65 million raise, Paradigm's $1.2 billion fourth fund expanding into AI and robotics, and Tether's $20 million investment in Mercado Bitcoin. They close on TradFi's crypto expansion via SBI Holdings and Russia's Alpha Bank, Kraken's $22 million lawsuit win, where the Clarity Act stands ahead of the midterms, and Spiral's new open source push to merge Bitcoin and AI.
Chapters
00:00 - Introduction and Show Overview
00:18 - Market Sentiment and Show Focus
01:15 - Banks and Traditional Enterprises in Digital Asset Space
02:40 - UK Tokenization Task Force and Use Cases
03:40 - Swift Blockchain Ledger Pilot with 17 Banks
04:34 - Global Sprint in Tokenized Securities and Deposits
07:23 - Bitcoin's Role in the Future of Digital Infrastructure
09:39 - The Bullish Case for Bitcoin Amidst Tokenization
12:28 - AI Tools and Sovereignty in Data Ownership
15:37 - Microsoft's Investment in AI and Data Sovereignty
22:16 - Microsoft Frontier Company and Proprietary Data Platforms
25:07 - The Importance of Human Agency in AI Adoption
28:40 - AI and the Disruption of Traditional Business Models
29:08 - Apple Suing OpenAI Over Trade Secrets
32:36 - The Long-Term Impact of AI and Open Source Models
36:50 - DoorDash's AI Code Reviewer and Internal AI Adoption
38:19 - Fed's AI Task Force and Economic Policy
43:32 - Russia's Strategic Use of Bitcoin and Digital Assets
50:07 - Paradigm's New Fund and Broader Tech Investment
55:13 - Traditional Finance's Entry into Crypto and Digital Assets
01:02:41 - Regulatory Developments and the Future of Crypto Legislation
01:09:18 - Bitcoin's Role in the Future of Digital Infrastructure
01:11:21 - Open Source AI and Bitcoin Integration
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Keep up with Michael:
https://x.com/MTanguma
Keep up with Liam:
https://x.com/Lnelson_21
Keep up with Brian:
https://x.com/BackslashBTC
