# Weakest Links

URL: /show/this-week-in-bitcoin/122/
> The legacy system is breaking down as Bitcoin infrastructure builds up. From bond-market stress to Liquid’s 4,000 BTC crisis, the weakest links are showing.

- Show: [This Week In Bitcoin](/show/this-week-in-bitcoin/)
- Episode: 122
- Date: 2026-09-09
- Hosts: chris
- Duration: 00:55:24
- Audio: https://feeds.fountain.fm/40huHEEF6JMPGYctMuUI/items/rGEOrtEOdiAxTuZHJWhz/files/AUDIO---DEFAULT---87fb2aef-fd77-4b0b-bade-833e89c5b8a7.mp3


Transcripts: [application/x-subrip](https://feeds.fountain.fm/40huHEEF6JMPGYctMuUI/items/rGEOrtEOdiAxTuZHJWhz/files/AUDIO---TRANSCRIPT---DEFAULT---SRT.srt)




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**Episode Links**

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**Show Notes**

* [Liquid Network Exploit Drains 4,000 BTC From Federation Reserves](https://bitcoinmagazine.com/news/alleged-white-hat-hackers-withdraw-4000-bitcoin-from-blockstreams-liquid-network-federation-reserves)
* [Liquid Network Hit by $320 Million Exploit](https://www.coindesk.com/markets/2026/09/07/bitcoin-network-used-by-exchanges-hit-by-usd320-million-exploit-hackers-claim-they-re-the-good-guys)
* [Liquid Rangeproof Bug: Nobody Broke the Math](https://drop.amboss.tech/liquid-rangeproof-explainer.html)
* [Liquid Network Incident Technical Report](https://gist.github.com/1440000bytes/211ac92dd4433bb1a2e674bf0ff7db2e)
* [Elements Fixes Rangeproof Cache Validation Bug](https://github.com/ElementsProject/elements/commit/c26d719c29)
* [Liquid Incident Working Theory](https://liquid-incident-brief-llf-20260906.fly.dev/)
* [Block Applies to Establish Builders Bank](https://investors.block.xyz/investor-news/news-details/2026/Block-Applies-to-Establish-Builders-Bank-a-National-Trust-Bank/default.aspx)
* [Block Seeks Bank Charter to Custody Bitcoin](https://decrypt.co/377746/jack-dorseys-block-applies-for-bank-charter-to-custody-bitcoin)
* [Bitcoin’s Overlooked Promise: Freedom](https://partners.wsj.com/the-nakamoto-project/bitcoin-reframed/bitcoins-overlooked-promise-freedom/)
* [Dan Morehead Says Bitcoin Will Massively Outperform Gold](https://www.coindesk.com/markets/2026/02/03/bitcoin-will-massively-outperform-gold-over-10-years-says-pantera-s-dan-morehead)
* [Failed Bond-Market Move Lights a Fire Under Bitcoin](https://finimize.substack.com/p/one-failed-bond-market-move-just)
* [Dan Morehead Calls Bessent’s Bond Buyback a Mistake](https://finance.yahoo.com/markets/crypto/articles/panteras-dan-morehead-calls-bessents-030555504.html)
* [The 60/40 Portfolio and a Changing Monetary System](https://finance.yahoo.com/markets/crypto/articles/60-40-portfolio-may-100-153442766.html)
* [Bond-Market Stress Spooks Investors](https://www.openingbelldailynews.com/p/economic-outlook-bond-market-stocks-investors-trump-tariffs-wall-street-fed)
* [Global Investors Sound the Alarm on Debt](https://realeconomy.rsmus.com/market-minute-global-investors-are-sounding-the-alarm-on-debt/)
* [What Would a Fiscal Crisis Look Like?](https://www.crfb.org/papers/what-would-fiscal-crisis-look)
* [Warsh and Bessent Clash Over the Fed and Bond Market](https://www.cnn.com/2026/08/27/business/market-bonds-fed-bessent-warsh)