Rabbit Hole Recap

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

https://engineering.block.xyz/blog/predictable-rng-fallback-and-32-bit-reseed-in-coldcard-firmware

https://insider.btcpp.dev/p/when-randombytes-runs-but-doesnt

https://x.com/Rob1Ham/status/2083936334511538368