Bitcoin Magazine Podcast

Over $120 million in Bitcoin has been drained from Coldcard hardware wallets and the attack is still ongoing. Alex Thorn, Head of Firmwide Research at Galaxy, joins Spencer Nichols to break down exactly how the critical entropy bug in Coldcard's 2021 firmware was exploited, how he's tracing stolen funds on-chain, and what victims must do right now to have any chance of recovery. Thorn also explains why multisig and collaborative custody may be the only responsible path forward for Bitcoin self-custody.
🔶 Host: Spencer Nichols — Bitcoin Magazine
🔶 Alex Thorn — Head of Firmwide Research, Galaxy
Chapters:
09:26 – Which Coldcard Devices Are Vulnerable
15:18 – Tracking the Attackers: Waves, Footprints & 1,600 Stolen BTC
23:46 – White Hats, Victim Reports & How to Prove Ownership
27:57 – Is Coinkite Liable? Negligence vs. Malice in the Firmware Bug
32:24 – Bitcoin's Soul-Searching Moment: Trust & Self-Custody Culture
37:56 – Multisig & Collaborative Custody Explained
43:09 – AI-Powered Attackers: The First Salvo of the Clanker Wars
50:46 – Open-Source AI, Encryption Battles & Internet Freedom
58:03 – Quantum Threats, Market Impact & Final Advice for Victims
#Bitcoin #Coldcard #ColdcardHack #BitcoinSecurity #SelfCustody #HardwareWallet #AlexThorn #Galaxy #BitcoinMagazine #BitcoinPodcast #Multisig #ColdStorage #BitcoinNews #OnChainAnalysis #Cybersecurity #BTC #Coinkite #SeedPhrase #BitcoinHack #DigitalSecurity #AIcybersecurity #QuantumComputing #BitcoinCulture #CryptoHack #WalletSecurity
DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

The government keeps getting robbed of its own Bitcoin and a new bill wants to fix that. The BPI team breaks down the American Reserve Modernization Act (ARMA): what it would do for Treasury custody standards, why it has Democratic co-sponsors, and why they're bullish it could pass the House. They also cover the wave of digital-asset departures shaking up DC, from Hester Peirce to Paul Grewal. They also cover Kimi K3, China's open-source push, and the data center fight.
🔶 Connect with Zack Shapiro on X: https://x.com/zackbshapiro
🔶 Connect with Zack Cohen on X: https://x.com/zackcohen_
🔶 Connect with Ken Egan on X: https://x.com/Bayman11771
🔶 Learn more about the Bitcoin Policy Institute: https://www.btcpolicy.org/
Chapters:
04:02 — Regulatory FUD: How the US Might Curb Chinese Models
10:04 — "FINRA for AI" & the Open-Source Debate
16:25 — Why China Went Open Source — and When It Flips
19:52 — Xi Jinping's Global AI Governance Play at Shanghai WAIC
27:31 — Robots, Health Care & the Industrial AI Layer
30:04 — America's Bipartisan Data Center Backlash
39:38 — AI's PR Problem: Capital, Labor & Memory Stocks
42:38 — The Jacobian Conjecture & Mastering AI Prompting
51:10 — ARMA, the Bitcoin Reserve Bill & DC Departures
#Bitcoin #BitcoinPolicy #AIpolicy #KimiK3 #OpenSourceAI #OpenWeightModels #ChinaAI #ModelSovereignty #DavidSacks #AIRegulation #WorldAIConference #AIGovernance #DataCenters #DataCenterBacklash #JevonsParadox #ARMA #BitcoinReserve #StrategicBitcoinReserve #TreasuryBitcoin #CryptoPolicy #FreedomTech #AIprompting #FrontierAI #BitcoinPolicyInstitute #TechPolicy
DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

Everyone keeps asking what the "big catalyst" for Bitcoin will be, but Coinbase's Head of Institutional Strategy John D'Agostino says that's the wrong question entirely. In this episode, host Spencer Nichols digs into why proven technology runs on micro catalysts, how regulatory clarity and the market structure bill could accelerate institutional adoption, and what the GENIUS Act already changed. D'Agostino also breaks down why roughly 40 countries are exploring Bitcoin on their balance sheets.
🔶 Host: Spencer Nichols — Bitcoin Magazine
🔶 John D'Agostino — Head of Strategy, Institutional at Coinbase
Chapters:
04:38 — Why Market Structure Is "GENIUS on Steroids"
09:33 — Micro Catalysts vs. the One Big Catalyst
12:08 — AI vs. Crypto: The Battle for Capital
17:28 — Bitcoin's Role in an AI-Driven Economy
22:15 — Gold vs. Bitcoin & the Geopolitical Split
28:29 — 40 Countries Eyeing Bitcoin Balance Sheets
36:09 — Store of Value or Censorship-Resistant Payments?42:39 — Surviving Volatility & Playing the Long Game
#Bitcoin #Coinbase #JohnDAgostino #BitcoinMagazine #MarketStructure #CLARITYAct #GENIUSAct #Stablecoins #Tokenization #InstitutionalInvestors #SovereignWealthFunds #BitcoinAdoption #Blockchain #CryptoRegulation #StoreOfValue #BitcoinETF #DigitalAssets #Crypto #DollarCostAveraging #BTC #OnChainFinance #BitcoinNews
DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

Is the U.S. really about to buy Bitcoin? Kraken co-CEO Dave Ripley tells Spencer Nichols why a U.S. strategic Bitcoin reserve could happen within the next 12 months, based on discussions happening at the state and federal level. He unpacks sovereign adoption, tokenization, and the market-structure shift underway across crypto and traditional finance.
🔶 Host: Spencer Nichols — Bitcoin Magazine
🔶 Dave Ripley — Co-CEO of Kraken
Chapters:
00:42 — Dave Ripley of Kraken on the state of the market
05:01 — How institutions are really entering crypto and tokenization
07:19 — Stablecoins and the rise of B2B cross-border payments
10:28 — Why Solana and Ethereum lead tokenization, not Bitcoin
14:17 — How crypto got political: Gensler, Warren and the Clarity Act
21:10 — Inside Kraken's Fed master account and Wyoming bank license
23:52 — The bank fight over stablecoin interest and the GENIUS Act
31:31 — Sovereign Bitcoin adoption and a possible U.S. reserve
38:15 — AI trading, agents as economic actors, and a bullish close
#Bitcoin #Kraken #DaveRipley #BitcoinMagazine #Stablecoins #Tokenization #TokenizedStocks #GENIUSAct #ClarityAct #CryptoRegulation #StrategicBitcoinReserve #SovereignAdoption #InstitutionalAdoption #DeFi #NinjaTrader #FedMasterAccount #BitcoinNews #MarketStructure #AITrading #BTC #WyomingSPDI #QualifiedCustody
DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

Is China's open-source AI strategy a values shift or a game-theoretic bluff? On this episode of The Bitcoin Policy Hour, the BPI team argues it's the latter and explains what happens when Chinese chips catch up to Nvidia. They dig into the Dean Ball vs. David Sacks debate over regulating Chinese models, "FINRA for AI," and the commoditization of intelligence. Plus: the first hearing on the American Reserve Modernization Act and the future of a Strategic Bitcoin Reserve.
🔶 Connect with Zack Shapiro on X: https://x.com/zackbshapiro
🔶 Connect with Zack Cohen on X: https://x.com/zackcohen_
🔶 Connect with Ken Egan on X: https://x.com/Bayman11771
🔶 Learn more about the Bitcoin Policy Institute: https://www.btcpolicy.org/
Chapters:
1:34 — Kimi K3 Breaks Open-Weight Records
4:28 — Should the US Restrict Chinese AI Models?
10:25 — "FINRA for AI" & the Open Source Ethos
20:16 — Xi Jinping's Global AI Governance Push
28:14 — AI at the Industrial & Health Care Layer
30:44 — The Data Center Backlash37:06 — Why Opposition Went Bipartisan
43:05 — The Jacobian Conjecture & the Prompting Gap
52:00 — Bitcoin Reserve Bill (ARMA) & DC Departures
#Bitcoin #BitcoinPolicy #AIPolicy #OpenSourceAI #KimiK3 #ChinaAI #ModelSovereignty #FreedomTech #DataCenters #XiJinping #GlobalAIGovernance #DavidSacks #DeanBall #StrategicBitcoinReserve #ARMA #BitcoinReserve #AIRegulation #USChinaAIRace #WorldAIConference #AIPrompting #BitcoinPolicyHour #BPI #Geopolitics #ArtificialIntelligence #Frontier
DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.