Why AI Agents Will Settle on Bitcoin
AI agents won't barter, and Michael argues they will coalesce around Bitcoin faster than anyone expects. Plus Schwab turns on Bitcoin trading, Deutsche Bank and Stifel move in, and an OpenAI model spends testnet ETH it never owned. BOOK A CONSULTATION Holding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three institutions protect it, and no single one can lose it, move it, or use it. Inheritance built in. Insured through Lloyd's of London. Speak with our team to see if it fits. 👉 https://go.onrampbitcoin.com/consult-fs-pod GET ON THE LIST • Onramp: our research, event invites, and the week's Bitcoin news in one free email. https://go.onrampbitcoin.com/research-fs-pod • Early Riders Insights: the best content in the ecosystem, weekly. https://www.earlyriders.com/research ABOUT THIS EPISODE An internal OpenAI model, told to deploy contracts with no funded wallet, derived keys from public seed phrases and spent testnet ETH it did not own. Michael and Liam take that to its conclusion: agents will not barter, and they will settle on native internet money, with Bitcoin the asset they coalesce around. They cover OpenAI's talks to buy Trail of Bits, World ID's new suite for banks and AI agents, Anthropic's public benefit fund, and Meta's Muse Spark Open. Then the digital asset side: Chainalysis finds the US importing Bitcoin again as institutions replace retail as the marginal buyer, Schwab turns on Bitcoin and Ether trading, JPMorgan brings JPM Coin to Ethereum, Deutsche Bank readies custody, and Stifel takes a stake in Meow. Brian argues every incumbent move is now defensive, and Michael sketches a Bitcoin savings layer that agents can spend from. CHAPTERS 00:00 - Cold open: AI agents won't barter 01:41 - An OpenAI model spent testnet ETH it didn't own 03:12 - Why AI agents will coalesce around Bitcoin 05:24 - AI labs are becoming digital asset companies 07:39 - OpenAI in talks to buy Trail of Bits 10:16 - World ID for banks, deepfakes and AI agents 18:46 - Anthropic's public benefit fund and Elon's SpaceX pledge 24:52 - Meta's Muse Spark Open and AI capex concentration 28:53 - Ramp at $60B and the second-order AI winners 29:56 - Chainalysis: the US is importing Bitcoin again 31:55 - AI-to-AI commerce and agents with native wallets 37:41 - Schwab turns on Bitcoin, JPM Coin goes to Ethereum 43:06 - Deutsche Bank, Stifel and Meow: incumbents on defense 51:10 - Stripe, Privy and a Bitcoin savings layer for agents 54:36 - Ledger attack update and the chop in the 80s ABOUT THE SHOW Final Settlement is a weekly show on capital markets, dealmaking, early-stage venture, Bitcoin applications, and protocol development, presented by Early Riders and Onramp Media with Michael Tanguma, Liam Nelson, and Brian Cubellis. • Connect with Early Riders: https://www.earlyriders.com/contact • Michael: https://x.com/MTanguma · Liam: https://x.com/Lnelson_21 · Brian: https://x.com/BackslashBTC MORE FROM ONRAMP MEDIA • The Last Trade and First Principles: https://www.youtube.com/@OnrampMedia • Signal vs Noise, live twice a week: https://www.youtube.com/@SignalvsNoiseLIVE • Audio, every show: https://podcasts.apple.com/us/podcast/id1690709152 or search Onramp Bitcoin Media on Spotify • News and data: https://onramp.media Onramp does not provide financial, tax, or legal advice. Nothing here is a recommendation to buy or sell any asset. This episode is for entertainment purposes only.