Recent episodes
David Eby Just Fumbled an Entire Province
- JPMorgan's asset management projects 10% annual Bitcoin returns over the next decade, contrasting with skeptics like Chamath who predict eventual failure. - Coldcard buyers are taking Coinkite to an Ontario court in a legal dispute over hardware wallet issues. - UK welfare system allows recipients to lease new cars every three years; fraudulent disability diagnoses enable subsidized vehicles through doctors incentivized by kickbacks. - B.C. provincial election results: Conservative John Rustad won as interim premier-elect without internal party election, a historic first; Emily Lowan (NDP) made controversial statements about standing against conservatism. - Ontario municipal elections: Toronto mayoral race tightens between incumbent Olivia Chow and challenger Brad Bradford; Hamilton voters decided between Rob Cooper and Keenan Loomis. - Criminal justice failures: Kieron Tierney received time-served sentence (2.25 years credit) for 85+ prior break-ins, 16 recent charges, fentanyl trafficking, and $26,000 property damage; drone delivered McDonald's and alcohol to maximum-security inmate at Sainte-Anne-des-Plaines.
Bitcoin Gets Hacked, Then Goes to Zero?
- JPMorgan Asset Management projects 10% compound annual Bitcoin returns over the next decade, contrasting sharply with Chamath Palihapiti's claim that Bitcoin will eventually be "hacked and go to zero." - Keystone hardware wallet suffered a breach on October 20th; hackers stole authentication keys, allowing creation of counterfeit devices that pass identity checks, forcing destruction of nearly 20,000 units. - Canada's Department of Finance published draft stablecoin regulations requiring one-to-one reserve backing, three-day redemption windows, 1% fee caps, and KYC compliance tied to third-party fintech data storage. - Ontario's new digital ID strategy will allow residents to store health cards and driver's licenses on mobile devices; hosts express concern about tracking, surveillance, and gradual replacement of physical identification. - Coinkite faces a class-action lawsuit in Ontario court over Cold Card devices with defective seed generation and low entropy; plaintiff Amir Reza Nadari claims loss of 1.23 Bitcoin after CoinKite allegedly knew of the flaw since May 2023 but failed to warn users. - Multiple wallet and device security incidents this week underscore the vulnerability of proprietary hardware solutions versus self-custody approaches like DIY setups using Raspberry Pi.
Forget Alberta Leaving — Ottawa's Nov. 3 Rule Change Is Coming for Your Job
- MSCI's non-operating company rule (October 15) may remove **Strategy (MSTR)** from major indexes, affecting ~$40.3B of float-adjusted market cap; removal takes effect November 30, leaving 19 days between announcement and any forced selling. - Strategy purchased 250 BTC and spent $192M on preferred shares; Metaplanet swapped Bitcoin-backed loans for ¥52B in convertibles while restarting buybacks. - K33 estimates the **STRC machine** has left Strategy approximately 4,947 BTC behind where it would otherwise be due to share buyback mechanics. - Alberta held a referendum vote today on whether to pursue a legal separation process; Polymarket betting heavily favors "Remain" at 40–60% margin, though hosts expect the measure to fail narrowly. - Canada's immigration overhaul removes LMIA requirements for high-wage occupations (≥$65,000/year), allowing workers to claim genuine jobs without labor market impact assessment; half a million work permits set to issue in 2027. - Food bank usage in Toronto surged; Daily Bread reports 87% of new users born outside Canada, mostly recent arrivals; Scarborough's Feed reports 95% foreign-born, with cultural mismatch and fraud concerns cited.
MSTR Shareholders Dealt a HUGE Blow
- MSCI adopted non-operating company rules on October 15 that may exclude MicroStrategy (MSTR) from equity indexes due to Bitcoin holdings dominating its treasury asset mix; the finalized list names no specific company, but MSTR faces potential removal with impact effective November 30. - Michael Saylor issued a public statement claiming Bitcoin doesn't need MSCI and neither does MicroStrategy, but hosts interpret this as defensive posturing after media pressure campaigns months earlier. - Five-dollar wrench attacks are escalating across the UK (20+ cases in first half of 2026) and France, with criminals targeting crypto holders through home invasions, kidnapping, and torture to extract keys and access digital assets. - Canadian Armed Forces reservists were arrested in Toronto for kidnapping a crypto holder in July 2026; military ammunition stolen from supply chains was recovered during the investigation, revealing systemic security lapses. - Hardware wallet manufacturers face pressure: Ledger launched the Atom (a risky Android-based "hybrid" phone with $849 price tag), while Trezor moved to direct-sales only distribution starting January 2027 to mitigate supply chain attacks. - Self-custody best practices emphasized: do not store hardware wallets, hot wallets, or keys in your home; build your own signing device (Seed Signer) using off-the-shelf components as a superior privacy and security alternative.
Is Ottawa About to Sell Your Future Home to Foreign Buyers?
- Ledger hardware wallet supply-chain attack: An unauthorized 4G chip implant was confirmed in a device sold through CryptoBilis, a Ledger-listed reseller, raising questions about device verification and cold storage security. - U.S. purchasing Russian diesel amid Ukraine aid: The administration is buying refined Russian oil products while simultaneously funding Ukraine, illustrating contradictory energy and geopolitical policy. - Canada's immigration policy and housing crisis: The ban on foreign home purchases expires January 2027; proposed modifications include tax-based models that could further inflate real estate prices while the government simultaneously claims to increase housing supply. - Strategic Petroleum Reserve (SPR) at near-record lows: Current levels of approximately 270,000 barrels approach 1982 baseline levels, with monthly drains of 3,000 barrels threatening energy security. - Ontario municipal elections and boomer-focused tax freezes: Candidates are proposing property tax freezes for seniors, contradicting efforts to increase housing affordability for younger residents. - Bank of Canada employment shock: Canada lost 100,000 jobs when 60,000–70,000 were projected, with significant public-sector cuts affecting economic stability.
Would The FINTRAC Leaks Sink Ottawa?
- Ari Paul's allegations that Coinbase lost $25 million of BlockTower's money and concealed over $1 billion in hack losses; Coinbase denies the claims and they remain unverified. - U.S. job reports showed only 29,000 jobs added in September against expectations of 84,000–90,000, with July and August revised downward by 60,000 jobs combined; unemployment rose to 4.2%. - Treasury and UK bond yields are climbing sharply, with UK 10- and 30-year yields a full percentage point higher than levels that forced Liz Truss from office. - Canada's population census appears significantly undercounted; New Brunswick found 17,000 additional people using corrected methodology, and actual population may exceed 50 million not the official 40–41 million. - Tim Hortons franchises in eastern Ontario show 60–80% of payroll from foreign workers, raising questions about the foreign worker visa program and alleged scams involving workers paying employers for market access. - Ontario's Academy of Learning received $219 million in OSAP grants (one-third of the province's total) despite evidence of fraudulent coursework: rapid courses completed in one day, quizzes finished in under six minutes, and students unable to name their own program or communicate in English.
Ari Paul vs. Coinbase: Is the “Trust Us” Era Ending?
- Ari Paul of BlockTower Capital alleges Coinbase lost $25 million of his firm's funds and concealed more than $1 billion in hack losses; Coinbase denies material breaches, though the exchange did not deny the $25 million claim, leaving uncertainty about what actually occurred. - Illinois Department of Revenue drafted a 0.2% digital asset transaction tax, expected to raise $60 million, applying to Bitcoin buys, sells, and transfers to self-custody; the tax is delayed until July 1, 2026. - BTC Now launched a buy-now-pay-later Bitcoin product allowing purchases with up to 60 monthly installments; the model exposes buyers to uncertain personal financial conditions and keeps Bitcoin in third-party custody until full payment. - BitBuy suffered an alleged security breach with super-admin and customer support portal access reportedly listed for sale on cybercrime forums, exposing user IDs, email addresses, account activity, and risk scores. - Argentina introduced a citizenship-by-investment program requiring either a $350,000 non-refundable treasury donation or $800,000 zero-interest government bond with a seven-year term.
Would The US REALLY Invade Canada?
- Bitget exchange lost hundreds of millions in funds via spoofed transfers, not private-key compromise, raising questions about backend security. - Mark Carney's remarks on "extreme tail risk" involving a hypothetical U.S. invasion of Canada sparked media coverage despite low probability assessment and military denials of modeling. - British Columbia called snap elections for October 24th with BC Conservatives in leadership transition; NDP holds slim majority but seeks stronger mandate. - Canadian government pursuing protectionist telecom policy by reducing Starlink reliance and investing in domestic satellite solutions like Telesat, despite technical and deployment delays. - Correctional Services Canada began distributing paper straws in federal prisons to reduce health harms from drug use, signaling harm-reduction approach amid persistent contraband issues. - A convicted child killer was granted a 60-day unescorted pass to a cooking program despite prior parole denial; pass was later revoked after public outcry.
Bitget Lost $351 Million Without Losing a Single Key
- Bitget exchange loses $351 million in digital assets through spoofed transfers in wallet backend system; cold storage remains secure and user protection fund pledges to make users whole. - Quantum-resistant Lightning Network research (PQLN) demonstrates zero-knowledge privacy layer for Bitcoin without requiring soft fork or touching channel funds. - X402 protocol integration with Bitcoin Lightning Network enables automated micropayments between software agents and APIs; real-world adoption remains uncertain. - Shielded Bitcoin design using zero-knowledge proofs allows pegging in regular Bitcoin, sending privately via encrypted notes, then pegging out; similar to mixers but trustless; still early research phase. - Wrench attacks targeting cryptocurrency holders increasing in frequency; UK case offers £10,000 reward for information on violent home invasion targeting couple's crypto holdings. - Blockstream Services Canada and USA operate under separate ownership, control, and management since mid-2024; River Financial sues for approximately $7 million over terminated agreement and prepaid funds.
Rate Hike. War. Bitcoin Goes Up Anyway.
- The International Language Academy of Canada (ILAC), a major private school, filed for bankruptcy and closed all operations, leaving 1,300 international students in limbo with unpaid tuition deposits and citing visa restriction changes as the cause. - A shooting occurred at a synagogue in Belleville, Ontario during Yom Kippur services; a 29-year-old suspect exchanged gunfire with an armed security officer, with both suffering injuries, amid rising antisemitic violence across Canada. - An Ontario judge sentenced a man to two years of house arrest for a fatal drunk-driving crash that killed a 12-year-old girl, citing historical colonialism and cultural disconnection rather than imposing the Crown's requested four-year prison term. - Canada is backstopping an $841 million World Bank loan to Ukraine specifically for pension payments, while Canada has no gold reserves and domestically offers Medical Assistance in Dying (MAiD) to vulnerable populations. - Simon Fraser University renamed its Burnaby campus with two Indigenous language names that have fewer than 110 total fluent speakers combined, raising concerns about practical implementation and accessibility. - Ontario schools are teaching "toxic masculinity" curricula and materials framing white supremacy as institutional fact, drawing criticism from parents and media observers.
Rate Hike. War. Bitcoin Goes Up Anyway.
- Bitcoin rallied 7% following Fed rate hike (25 basis points, first since July 2023), reaching ~$86,000 despite macro headwinds including war escalation, rate increases, and political instability in Europe and North America. - MSTR surged ~20% after using cash reserves to buy more Bitcoin; debate over whether the company should sell Bitcoin to address debt at higher prices, and speculation about larger corporations (Apple) entering Bitcoin treasury space. - Security updates and vulnerabilities across Bitcoin infrastructure: Sparrow wallet released v2.5.5 with major security patches; Blink wallet (formerly Bitcoin Beach) paused custodial services after attackers compromised limited accounts; Core Lightning warns users to disable experimental features pending investigation. - BitBox released public beta Lightning wallet integration with on-chain-to-Lightning bridge, backup recovery, and Lightning addresses; trade-off remains between convenience and custody/privacy risk. - Signal announced numberless phone registration using one-time $3 anti-spam fee via Google Pay, with plans to accept Bitcoin (Lightning) payment in future; addresses bot and spam proliferation on messaging platforms. - 21 Capital teased preferred stock instrument similar to SATA/STRC but lacks clear competitive advantage or market trust given leadership concerns and redundant product positioning.
Hunter Biden's LAPTOP Memecoin Launch Was a Disaster
- Liquid Network's recovery dispute: Blockstream refusing ransom demand for remaining ~600 BTC after exploit returned 3,400 BTC; unclear how much is user funds versus Blockstream's own capital. - Hunter Biden laptop memecoin: Reached >$1.25B market cap before crashing; raised Clarity Act questions about token issuance linked to political figures. - Trezor, BitBox, CoinTracking phishing wave: Brevo email platform breach led to ~374,000 malicious emails; 2,500 users clicked links; users warned not to enter seed phrases or download fake apps. - Revolut data leak via spoofed government email: Attackers obtained full KYC data, transaction histories, passport scans, and Bitcoin records for limited user set; risk of $5 wrench attacks increasing. - Block's Builders Bank application: $95M capitalization for federally regulated custodial bank in Stanford, Connecticut; competes with Paxos, Circle, Ripple, and traditional custodians. - Malone Lam case: 22-year-old from Singapore pleaded guilty to stealing 245M+ in Bitcoin (4,100 BTC) via social engineering, Google phishing, and AnyDesk remote access; lived openly with private jets, mansions, $2M watch.
Canada Is Caught Between Trump and China
- U.S.–Canada antitrust cooperation paused by the U.S. Justice Department while Canada pursues defense dialogue with China, raising concerns about alignment and diverging priorities. - Quebec provincial election tensions over a Kahnawake community removing a political party's campaign sign, highlighting questions about sovereignty and federal funding. - Vancouver police veteran arrested after 26-year career; charged with nine counts including fraud and theft totaling $3 million across 19 victims over eight years. - Canadian national happiness index reportedly increased to 70.5/100, with Brampton ranked among the happiest cities—claims met with skepticism given inflation, crime, and cost-of-living pressures. - Germany's AfD election success and rising far-right movements across democracies, driven by immigration concerns and cultural friction. - Hamilton vs. Brampton fraud stories: a pharmacist ($7.7M insurance scam, fled to Egypt) versus collision shop operators inflating damages for insurance payouts.
tfw you lose 300 million in BTC (LIQUID BITCOIN HACK)
- Liquid Network suffered a ~$320 million theft of approximately 4,000 BTC due to a code vulnerability exposed on GitHub from August 3 to early September; the attacker returned 3,600 BTC but kept 400 as a gray-hat recovery fee. - Liquid is an IOU system backed by an 80+ member federation, not self-custodial Bitcoin; users depend entirely on federation members to redeem their L-BTC. - The vulnerability was publicly visible for over a month before exploitation, raising questions about responsible disclosure and code maintenance standards at Blockstream. - Trezor's third-party shipping provider breach exposed 67,000 additional US customers (orders from Nov 2019–Aug 2021) with names, emails, phone numbers, and shipping addresses. - MetaPlanet, a Japanese Bitcoin treasury company, diluted shareholder shares by roughly 10x while insiders received favorable stock options with adjustment provisions, protecting executive holdings from dilution. - Hardware wallet ecosystem has shifted post–Cold Card; newer options like Foundation Passport offer multi-sig and app flexibility, though no single device fully addresses invasion-attack scenarios.
Why Pierre Poilievre Can't Beat Mark Carney
- The U.S. Strategic Petroleum Reserve is at its lowest level since 1983 (290 million barrels), drained by ongoing geopolitical conflicts including Ukraine, Iran strait tensions, and Venezuela instability. - Trump's 100-year oil deal with Venezuela covers an estimated 65 billion barrels of proven reserves, but infrastructure decay and political risk mean production could take years to materialize. - Canada's $7.5 billion tariff-support package includes welfare-adjacent EI boosts (70% income replacement), business loans, and regional development funds—essentially deficit spending that won't address competitiveness. - Tariff regime is now permanent policy across both U.S. parties; Democrats have signaled no rollback of Trump's tariffs if elected in 2028, making tariffs a structural feature of North American trade. - Three Canadian by-elections are underway; Liberals are favored to hold two ridings and possibly flip a conservative-held seat, setting up momentum for a potential snap election under Mark Carney's Liberal leadership. - Pierre Poilievre has "no chance whatsoever" of defeating Mark Carney in a federal election; Conservative Party leadership and strategy are fundamentally misaligned with Canadian voter sentiment and modern political messaging.
Canada Keeps Writing Cheques. Ukraine Keeps Finding Corruption | The Canadian Bitcoiners Podcast
- Ukraine corruption: Anti-corruption raids uncovered money laundering through state banks and illegal bail payments; former defense minister declared a "systemic crisis of governance" after being dismissed. - Canada's financial commitment to Ukraine questioned as billions sent while domestic healthcare, education, and policing remain underfunded. - Dating app extortion in Brampton: Two suspects arrested for forcing a victim to e-transfer $6,000 after luring them to a basement apartment. - Sexual assault sentencing reduced due to immigration status: Judge reduced sentence from five to four years to avoid triggering deportation, raising questions about equal justice. - Shaun Chen's political comeback: Former MP returning to municipal politics after retirement due to vehicle accident injuries. - Miscellaneous crime stories: A sex offender arrested for indecent acts while driving; 36 vehicles damaged in a machete-wielding parking lot spree in Brampton.
Canada Is At War Over Trade. Bitcoin Doesn't Need A Deal | The Canadian Bitcoiners Podcast
- Trump imposed 50% tariffs on $20 billion in Canadian goods via Section 338 of the 1930 Tariff Act—a statute unused for 96 years that requires no congressional vote or expiry date and applies even to CUSMA-compliant goods. - Mark Carney announced dollar-for-dollar retaliation scheduled for September 8; the breakdown centered on trucks and automotive supply chains at Oakville and Oshawa plants, not dairy as commonly reported. - New Hampshire passed Senate Bill 482, capping Bitcoin ATM purchases at $2,000 per day statewide with mandatory KYC, 48-hour holds for new users, and blockchain analysis—the limit follows residents across state lines. - The SEC proposed Regulation Crypto Assets allowing $75 million per year in retail token sales and self-certified exits with zero dissenting votes on a commission with no remaining dissenters left, effectively legalizing ICOs. - Metaplanet acquired controlling interest in Nasdaq-listed Super League Enterprise, contributing 2,100 BTC (~$130 million) and $2.5 million cash, rebranding to Super Planets under ticker SUPA. - E-cash proposed a hard fork and sidechain scaling plan but controversially included reassignment of dormant Satoshi-era coins to developers—described as theft to self-fund development.
Why is BC Paying 100K per Month to Give ONE PERSON a Hotel Room? | The Canadian Bitcoiners Podcast
- Michael Saylor and MicroStrategy face potential forced selling via MSCI index consultation on non-operating company classification; three companies (MSTR, Metaplanet, uranium fund) could trigger $8.8 billion in passive index liquidation by October 16 decision date. - BIP-110 developers proposed BLAKE2b hash function and September 1 hard fork that would disable all mining hardware globally, creating existential risk to network security. - Trezor hardware wallet shipping partner leaked 13,689 customer home addresses, creating physical security risk for holders. - Canadian government dysfunction: Prime Minister vacation optics, Senate speaker international travel abuse ($900,000 in 14 trips since May 2023), BC government spending $101,000/month to house one person in 110-room hotel, and eligibility loophole allowing non-status residents to collect welfare for decades. - First Nations land transfers in BC involving potential free land grants followed by immediate resale to private institutions (Royal Roads University), raising questions about asset value extraction. - MP Sean Chen travel to China during medical recovery period, with video appearance on Chinese consulate website, amid broader RCMP warnings of Chinese government interference in Canadian institutions.
Wall Street Found Its Exit From Michael Saylor | The Canadian Bitcoiners Podcast
- Michael Saylor's Strategy (MSTR) faces potential removal from MSCI indices due to being classified as a "non-operating company," which could force up to $8.8 billion in passive index fund sales on a calendar date (October 16 decision). - BIP-110 hard fork proposal by Luke Dashjr and associates aims to replace SHA-256 with BLAKE2b mining and would effectively fork Bitcoin, with supporters pushing mandatory node-running-equals-mining requirements similar to BSV ideology. - Trezor shipping partner ShipMonk suffered a data breach exposing 13,689 customer names, addresses, phone numbers, and emails (May–August orders), creating phishing attack vectors and potential wrench-attack risk. - ShakePay launched two new products: a savings account (5% limited-time, CDIC-insured) and a Bitcoin-backed line of credit ($50k at 9.5% APR), echoing failed models like BlockFi and Celsius. - Canadian Bitcoin Conference 2024 postponed indefinitely due to bear market sponsorship shortfall and reduced ticket sales, disappointing community members and speakers. - Bolt wallet transitioned to unknown anonymous maintainers after AI pressure; Zeus and other custody products face ongoing security and operational challenges.
Atlanta AC Heists, Larry Brock's Exit & The Great Hamilton vs. Brampton Showdown | The Canadian Bitcoiners Podcast
- Atlanta experiences a surge in HVAC unit thefts, with thieves targeting copper components and prompting homeowners to install protective cages around expensive air conditioning systems. - The B.C. Ministry of Education approves Punjabi folk dance as a high school credit course in Surrey, raising questions about course relevance and educational standards. - Ottawa's downtown core has deteriorated significantly over the past decade, with visible homelessness, drug overdoses, and public safety concerns replacing its former reputation as a clean, family-friendly city. - Canada's student visa program is being exploited by Indian gang members, with 4,000 Indian citizens charged with nearly 18,000 offenses between 2019 and 2023, indicating systemic vetting failures. - Conservative MP Larry Brock resigns after one term to return to his role as a Crown attorney, marking the seventh Conservative departure since the last election and weakening the party's position against a Liberal majority. - The Prime Minister travels to Tuscany while facing tariff negotiations with the U.S., leaving his team to manage critical trade discussions during a period of political instability.