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 - Thanksgiving Reflections and Bitcoin Sentiment 02:41 - Tether's Stability Concerns and S&P Rating 10:49 - The Systemic Nature of Tether and Market Dynamics 21:42 - JPMorgan and Klarna: The Future of Stablecoins 28:39 - The Future of Bitcoin and Stablecoins 29:40 - The State of Stablecoin Technology 31:45 - Understanding Multi-Party Computation vs. Multi-Sig 37:02 - The Importance of Bitcoin in Custody Solutions 40:50 - The ETF Landscape and Market Competition 48:53 - Structured Products and Bitcoin's Market Position

Links discussed:
https://finance.yahoo.com/news/nasdaq-ise-seeks-quadruple-trading-042125019.html⁠⁠https://www.klarna.com/international/press/klarna-launches-klarnausd-as-stablecoin-transactions-hit-usd27-trillion/⁠⁠https://unchainedcrypto.com/jpmorgans-deposit-token-puts-stablecoins-on-notice/⁠⁠https://www.theblock.co/post/380764/upbit-says-emergency-audit-of-30m-hack-uncovered-flaw-that-could-expose-private-keys?utm_campaign=website&utm_medium=referral&utm_source=newsletter⁠⁠https://www.theblock.co/post/380375/stablecoin-issuer-paxos-acquires-fordefi-crypto-custody-wallet⁠⁠https://bitcoinnews.com/p/jpmorgan-structured-bitcoin-note⁠ ⁠https://x.com/paoloardoino/status/1995154943808839704?s=20⁠ ⁠https://finance.yahoo.com/news/p-downgrades-tether-stability-rating-210430953.html⁠⁠https://x.com/CryptoHayes/status/1994915256150495652⁠ ⁠https://www.reuters.com/business/coinshares-pulls-plug-select-crypto-etfs-ahead-us-listing-2025-11-28/⁠ ⁠https://www.theblock.co/post/380818/coinshares-withdraws-us-spot-etf-filings-for-xrp-solana-and-litecoin-ahead-of-nasdaq-listing⁠ ⁠https://decrypt.co/350376/openai-confirms-data-breach-heres-whos-impacted⁠