Why The Banks Changed Their Tune On Bitcoin
July 14, 2026
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, OLLAMA'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