Onramp Finance, Schwab, Morgan Stanley — Who Wins?
Timestamps:
00:00 - Big Announcement: Onramp Finance
03:55 - Bridging Bitcoin and Traditional Finance
10:14 - The Future of Financial Services
15:27 - Convergence of TradFi and Bitcoin Services
17:56 - Introducing the Genesis Program
28:05 - DeFi Hacks and Security Concerns
33:31 - The Security Landscape of AI and Blockchain
35:51 - Traditional Finance's Entry into Crypto
39:07 - Institutional Adoption and Market Sentiment
47:20 - Kraken's IPO Journey and Market Dynamics
58:24 - Innovations in Financial Services and User Experience
On this week's Final Settlement, Onramp launched Onramp Finance, a Bitcoin and dollar platform in partnership with Stripe offering 5% cash rewards, a 1.5% spending card, and Bitcoin-backed loans. Lazarus Group's $293 million KelpDAO attack cascaded into a $13 billion DeFi wipeout. Charles Schwab, Morgan Stanley, and Goldman Sachs, each made major moves into digital assets, while Tether and River launched unified Bitcoin money platforms.
Onramp Launches the Money Platform of the Future
Onramp Finance consolidates what serious Bitcoin allocators manage across five separate platforms into one product, building financial services on top of the most secure custody architecture in Bitcoin today.
Onramp Finance launched as a partnership with Stripe, offering up to 5% cash rewards for active clients who complete at least one Bitcoin trade per month.
The Onramp Card earns 1.5% cash back on every purchase, with rewards convertible to Bitcoin in one click.
The Onramp Terminal ships free with every Finance account, bundling thousands of on-chain, macro, and derivatives charts with full API access, replacing the need for external monthly subscriptions.
Higher tiers add Multi-Institution Custody across three independent keyholders, inheritance planning, Bitcoin IRAs, and Lloyd's of London insurance.
DeFi Suffers Its Worst Two Weeks of 2026
The KelpDAO attack exposed how single-dependency risk in cross-chain infrastructure can cascade through an entire ecosystem in just a few hours, driving a capital exodus that even Aave could not contain.
KelpDAO was exploited for $293 million in 46 minutes by Lazarus Group, which compromised two RPC nodes and abused a single-verifier LayerZero bridge configuration.
Aave saw $8.45 billion in deposits exit in 48 hours, contributing to a $13.21 billion slide in total DeFi value locked as capital rotated out of affected protocols.
Aggregate losses across ten DeFi protocols exceeded $600 million in just two weeks, with Vercel and Kraken also reporting separate security incidents in the same 24-hour window.
Anthropic's Mythos research shows that AI is identifying exploitable flaws faster than companies can patch them.
Wall Street Calls Crypto Daily Business
Three major institutions took major product steps in a single week, making digital assets a permanent line item across the largest balance sheets in finance.
Charles Schwab launched Schwab Crypto on April 16, partnering with Paxos for sub-custody and trade execution on spot Bitcoin and Ethereum.
Morgan Stanley's Amy Oldenburg stated crypto is becoming daily business across the firm, with the $9.3 trillion-AUM bank planning to support tokenized equities in the second half of 2026.
Goldman Sachs filed on April 14, for a Bitcoin Premium Income ETF using a covered-call strategy, selling options against BlackRock's IBIT and Fidelity's FBTC to generate income.
A Unified Bitcoin Money Experience Takes Shape
Three separate product launches this week converge on the same destination: a single financial experience spanning sound money, working capital, and everyday payments, built on native rails.
Tether launched the Tether wallet on April 14, a self-custodial app supporting USDT, tokenized gold, and Bitcoin over Lightning, with fees paid in the asset being transferred.
River partnered with Lead Bank to unify Bitcoin and dollar banking under one interface, letting clients earn on cash and pay bills alongside their Bitcoin allocation.
Kraken Co-CEO Arjun Sethi, confirmed a confidential IPO filing at a $13.3 billion valuation, down from the $20 billion valuation implied by its November 2025 raise of $800 million.
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