The Bitcoin Catalyst Wall Street Isn't Pricing In
This week Michael, Liam, and Brian break down Moonshot's Kimmy K3 release and what a more open, cheaper Chinese frontier model means for the race against Claude Fable 5 and GPT 5.6, from cyber guardrails and export controls to the Trump administration weighing a ban on Chinese models. They dig into the AI capital markets: Anthropic and DeepSeek's IPO plans, Nous Research's $75 million raise at a $1.5 billion valuation, Gavin Baker's intelligence-per-dollar thesis, Liquid AI, and OpenShip's self-hostable app platform. The guys run through the payments story: the $53 billion Stripe, Advent, and Block bid for PayPal, Visa's new OUSD stablecoin platform, and Amazon Japan's move into a yen-backed stablecoin. They cover a stack of digital asset headlines: IBIT options limits rising to 1 million contracts, Citadel's $400 million investment in Crypto.com at a $20 billion valuation, the ECB's digital euro pilot, Velocity's $38 million Series A, Tether's Genius Act countdown, and Lynn Alden's new bitcoin-focused PE firm. They close on where the Clarity Act stands, Early Riders' mid-year letter, and AI's arrival in film and music.
Chapters
00:00 - Introduction and Weekly Recap 01:26 - Kimmy K3 Release and Open Source AI Models 05:43 - Meta-level Analysis of AI Race and AGI 08:04 - AI Development: Capabilities and Guardrails 09:44 - AI as a Commodity and Data Strategies 11:08 - Global AI Race and Export Controls 13:13 - US-China AI Power Dynamics 16:46 - US Regulatory Posturing and Competition 21:55 - US and Chinese AI Model Competition 24:58 - AI Infrastructure and Market Share Shifts 31:40 - AI and Financial Markets: IPOs and Capital Flows 36:29 - Open Source AI Projects and Sovereignty 37:16 - Fintech and Payments: Stripe, PayPal, and Crypto 49:05 - Digital Asset Headlines: Tether, Stablecoins, and Regulation 52:58 - Crypto Market Dynamics and Capital Flows 55:25 - Bitcoin and Digital Asset Strategies 01:00:16 - AI and Bitcoin: The Future of Capital and Innovation 01:12:50 - Closing Remarks and Future Outlook
