Rabbit Hole Recap

Google is previewing a custody system that lets banks hold bitcoin, the NYSE's parent company is bringing Hyperliquid perps to the United States and Brazil's capital ran for the exits the day after Lula won a fourth term. Marty Bent and Thomas Pacchia are live to talk about what institutions are building, what you give up when you let them hold the keys and why equity in the AI boom isn't the same thing as scarce money. On today's show: 🔁 Last week, revisited: the cyber pandemic keeps spreading. Bitcoin Core fast-tracks fixes for bugs an LLM can find, and the Brotli bug reaches well beyond Node 🇧🇷 Brazil's Ibovespa fell 13.88% in a day and the real had its worst session in 25+ years. Why a digital bearer asset protects property rights 🧠 Calacanis says sell bitcoin for superintelligence. Meta's $95B raise and Trump's inflation comments show why equity isn't money 🏦 Google previews bitcoin-compatible MPC custody for banks. No seed, no unilateral control and how it compares to multisig 📈 ICE and Stan Druckenmiller back trade[XYZ] to bring 24/7 Hyperliquid perps onshore, with or without CLARITY 📉 Paul Kedrosky's gut check on the AI bull thesis: the first lab to stop training wins, and your index fund is a concentrated AI bet ⚠️ Electrum servers baited users into fee bumps that paid a thief. Update to 4.8.3 and run your own server. Plus the Keystone customer data leak 📺 People are using AI to rip spyware out of their TVs, an iPhone audit raises questions and an ad company turned ads into a spyware pipeline 🤖 Cohere caught an open-weight Qwen model reaching for a Beijing bucket, and AI labs say they refuted a 1999 complexity assumption. Bitcoin's crypto is untouched 🏛️ The Fed holds, two dissent for a hike and Warsh rewrites the meeting calendar 💸 Strategy spends $205M on STRC buybacks instead of bitcoin, and bitcoin loans need to beat HELOCs 🔓 Free Samourai: Keonne Rodriguez's Letter #8 Drop your questions in the chat. We'll get to as many as we can. 📰 Read the newsletters behind this episode: Google and the NYSE's Owner Are Rebuilding the Rails: https://www.tftc.io/google-mpc-bitcoin-custody-ice-hyperliquid-institutional-adoption/ A Gut Check on the AI Bull Thesis: https://www.tftc.io/ai-capex-treadmill-kedrosky-first-lab-to-stop-training-wins/ Brazil, Calacanis and the Difference Between Equity and Money: https://www.tftc.io/brazil-capital-flight-calacanis-equity-vs-money/ Electrum Bug Exploited in the Wild, Disclosed and Patched: https://www.tftc.io/electrum-malicious-servers-fee-bump-attack/ People Are Using AI to Rip the Spyware Out of Their TVs: https://www.tftc.io/ai-hacking-smart-tvs-remove-spyware/ 🎧 Paul Kedrosky on Hidden Forces: https://hiddenforces.io/podcasts/the-most-dangerous-investment-cycle-in-history-paul-kedrosky/ 🔓 Free Bill and Keonne: https://billandkeonne.org/ Plug your AI agent into TFTC for free: https://www.tftc.io/ai Follow Marty: https://x.com/MartyBent Follow Thomas: https://x.com/tpacchia TFTC: https://tftc.io bitcoin #AI #selfcustody

Google is previewing a custody system that lets banks hold bitcoin, the NYSE's parent company is bringing Hyperliquid perps to the United States and Brazil's capital ran for the exits the day after Lula won a fourth term. Marty Bent and Thomas Pacchia are live to talk about what institutions are building, what you give up when you let them hold the keys and why equity in the AI boom isn't the same thing as scarce money. On today's show: 🔁 Last week, revisited: the cyber pandemic keeps spreading. Bitcoin Core fast-tracks fixes for bugs an LLM can find, and the Brotli bug reaches well beyond Node 🇧🇷 Brazil's Ibovespa fell 13.88% in a day and the real had its worst session in 25+ years. Why a digital bearer asset protects property rights 🧠 Calacanis says sell bitcoin for superintelligence. Meta's $95B raise and Trump's inflation comments show why equity isn't money 🏦 Google previews bitcoin-compatible MPC custody for banks. No seed, no unilateral control and how it compares to multisig 📈 ICE and Stan Druckenmiller back trade[XYZ] to bring 24/7 Hyperliquid perps onshore, with or without CLARITY 📉 Paul Kedrosky's gut check on the AI bull thesis: the first lab to stop training wins, and your index fund is a concentrated AI bet ⚠️ Electrum servers baited users into fee bumps that paid a thief. Update to 4.8.3 and run your own server. Plus the Keystone customer data leak 📺 People are using AI to rip spyware out of their TVs, an iPhone audit raises questions and an ad company turned ads into a spyware pipeline 🤖 Cohere caught an open-weight Qwen model reaching for a Beijing bucket, and AI labs say they refuted a 1999 complexity assumption. Bitcoin's crypto is untouched 🏛️ The Fed holds, two dissent for a hike and Warsh rewrites the meeting calendar 💸 Strategy spends $205M on STRC buybacks instead of bitcoin, and bitcoin loans need to beat HELOCs 🔓 Free Samourai: Keonne Rodriguez's Letter #8 Drop your questions in the chat. We'll get to as many as we can. 📰 Read the newsletters behind this episode: Google and the NYSE's Owner Are Rebuilding the Rails: https://www.tftc.io/google-mpc-bitcoin-custody-ice-hyperliquid-institutional-adoption/ A Gut Check on the AI Bull Thesis: https://www.tftc.io/ai-capex-treadmill-kedrosky-first-lab-to-stop-training-wins/ Brazil, Calacanis and the Difference Between Equity and Money: https://www.tftc.io/brazil-capital-flight-calacanis-equity-vs-money/ Electrum Bug Exploited in the Wild, Disclosed and Patched: https://www.tftc.io/electrum-malicious-servers-fee-bump-attack/ People Are Using AI to Rip the Spyware Out of Their TVs: https://www.tftc.io/ai-hacking-smart-tvs-remove-spyware/ 🎧 Paul Kedrosky on Hidden Forces: https://hiddenforces.io/podcasts/the-most-dangerous-investment-cycle-in-history-paul-kedrosky/ 🔓 Free Bill and Keonne: https://billandkeonne.org/ Plug your AI agent into TFTC for free: https://www.tftc.io/ai Follow Marty: https://x.com/MartyBent Follow Thomas: https://x.com/tpacchia TFTC: https://tftc.io bitcoin #AI #selfcustody

AI helped researchers find a hole in PHP, the code running most of the web. The details leaked, and Cloudflare saw exploit attempts hit the millions within a day. Marty Bent and Thomas Pacchia are live to ask whether the cyber pandemic is finally here, what Amazon's AI spending says about the slowdown, and why a water heater that mines bitcoin might be the most decentralized miner yet. On today's show: 🔁 Last week, revisited: the OCC drops its yield presumption in the final GENIUS rule, and Anthropic's prospectus lands after its revenue slowdown 🛡️ PHP2Shell: AI found a decade-old flaw, it leaked early, and 2026 has already produced 21.7% of every CVE ever published 🔥 Heatbit's Bitwater: a water heater element with 20 mining chips that screws into the tank you already have 🤖 Amazon's AI spending took it free cash flow negative, with GPUs sitting in warehouses waiting on power. Bitcoin miners lived this in 2021. 📊 SpaceX's AI revenue is real, Anthropic's $80.7B loss is mostly paper, and the real question is revenue quality 📉 Black Monday never showed up, but bond convexity and the diesel squeeze did 🔑 Your API key is a bearer instrument: OpenCode, LiteLLM, Railway and a security checklist for the weekend 🪪 Someone opened a Cash App in her name and she's the one facing prison 💼 Wall Street keeps building ways to own bitcoin without owning bitcoin: BlackRock's PBIT and MSCI's new rule ⚡️ Tokens get cheaper, compute gets scarcer, and miners sit on the power Drop your questions in the chat. We'll get to as many as we can. 📰 Read the newsletters behind this episode: AI Found the Bug. Then It Leaked: https://www.tftc.io/php2shell-ai-vulnerabilities-cve-surge/ No Hedge on Earth: https://www.tftc.io/ai-slowdown-amazon-gpus-warehouses-no-hedge-on-earth/ Real Revenue, Paper Losses: https://www.tftc.io/spacex-anthropic-ai-revenue-quality/ Black Monday Never Showed Up: https://www.tftc.io/ten31-timestamp-black-monday-ai-bonds-diesel/ 🔥 Heatbit Bitwater: https://heatbit.com/pages/bitwater Plug your AI agent into TFTC for free: https://www.tftc.io/ai Follow Marty: https://x.com/MartyBent Follow Thomas: https://x.com/tpacchia TFTC: https://tftc.io bitcoin #cybersecurity #AI

Bank of America admitted it willfully broke the Bank Secrecy Act for seven years, paid $1.2 billion and nobody is going to jail. The Samourai Wallet devs wrote software that never touched a dime of anyone's money and they're sitting in federal prison. Marty Bent and Thomas Pacchia are live in New York to break down the two-tier justice system, the central bankers' bank admitting money runs on bailouts, and the rest of the week in bitcoin, AI and freedom tech. On today's show: ⚖️ Bank of America's $1.2B fine vs. Samourai and Roman Storm: FinCEN told SDNY Samourai wasn't a money transmitter. They charged them anyway. 🏦 The OCC's debanking report: banks cut off bitcoin businesses and used SAR secrecy to explain nothing 📜 The BIS says money needs "backstops that socialise the inherent fragility." Translation: bailouts. They also admit bitcoin removes trust in an issuer. 🔓 Ledger drain update: a confirmed hardware implant, $100M+ taken from 300+ wallets, and how to buy and verify a hardware wallet 🤖 If copying is free, what's left to own? AI clones of Word, Xbox embracing decompiles and a dead QuickBooks license ⚡️ DOE puts PJM's backup generators on standby in October, and why miners are the best load on the grid 📉 Measured in gold, the average Brit is poorer than in 1975 Drop your questions in the chat. We'll get to as many as we can. 📰 Read the newsletters behind this episode: Bank of America & Samourai: https://www.tftc.io/bank-of-america-fine-samourai-two-tier-justice The OCC debanking report: https://www.tftc.io/occ-debanking-report-megabanks-politics-digital-assets The BIS paper: https://www.tftc.io/bis-money-architecture-of-trust-bitcoin Ledger implant: https://www.tftc.io/ledger-cryptobilis-hardware-wallet-implant-authorized-reseller AI & intellectual property: https://www.tftc.io/intellectual-property-ai-copying-gunpowder-colt-bitcoin Follow Marty: https://x.com/MartyBent Follow Thomas: https://x.com/tpacchia TFTC: https://tftc.io bitcoin #BankofAmerica #Samourai

Marty Bent and Thomas Pacchia go live to break down the week's biggest stories in bitcoin, tech and freedom. Tonight: 🔓 The Ledger reseller attack: an estimated $86M+ reportedly drained from wallets bought through CryptoBilis in Southeast Asia. What we know, what we don't, and how to verify your own setup. 🧠 Justin Drake says head to the "bunker": could AI find a way to break ECDSA before quantum computers do? We dig into the claim and what it means for bitcoin holders. 🎮 AI-modded Halo and how AI is changing gaming. https://x.com/MartyBent/status/2108380995258855451?s=20 https://x.com/Ledger_Support/status/2108551100613714002 https://x.com/notgrubles/status/2108549968210354591?s=20 https://x.com/MagicalTux/status/2108095743525625998?s=20 https://x.com/LindellYehuda/status/2107999859219587309?s=20 https://www.tftc.io/ecdsa-ai-bunker-mode-bitcoin-address-reuse https://x.com/ProjectLoupe/status/2108241511607591223?s=20 https://x.com/TFTC21/status/2108586520924012571?s=20 https://x.com/DarkHorseDRK/status/2107446689762267570?s=20 https://x.com/Yodertoter40/status/2107828091691122790?s=20 https://x.com/PubKey/status/2107240022437249075?s=20 https://x.com/CoinDesk/status/2108600970066186301?s=20 https://x.com/BitcoinatBlock/status/2108284480243044407?s=20 https://x.com/TFTC21/status/2108485767739621660?s=20 0:00 - Dashboard 2:56 - Ledger Reseller Supply Chain Attack 10:10 - AI Quantum FUD and ECDSA 20:33 - Project Loupe Hardens Bitcoin Core 24:05 - AI Hacks South Korean Banks 31:57 - Dark Horse Grid Expansion Deal 43:26 - Pub Key Events and BitLicense 49:37 - New York Fines the Amish 52:39 - Russian Plague Conspiracy 57:32 - US Government Bitcoin Movements 1:00:43 - Block's Bitcoin Ad Campaign 1:04:15 - AI Modded Halo Servers 1:10:24 - S&P 500 Concentration 1:15:21 - Pope Leo and Conscious AI Jump in the chat and ask questions live. Follow Marty: https://x.com/MartyBent Follow Thomas: https://x.com/tpacchia TFTC: https://tftc.io bitcoin #Ledger #selfcustody #AI #quantum