Google Wants to Custody Banks' Bitcoin. Brazil Shows Why You Hold Your Own | Rabbit Hole Recap 426

Google is previewing a custody system that lets banks hold bitcoin, the NYSE's parent company is bringing Hyperliquid perps to the United States and Brazil's capital ran for the exits the day after Lula won a fourth term. Marty Bent and Thomas Pacchia are live to talk about what institutions are building, what you give up when you let them hold the keys and why equity in the AI boom isn't the same thing as scarce money. On today's show: 🔁 Last week, revisited: the cyber pandemic keeps spreading. Bitcoin Core fast-tracks fixes for bugs an LLM can find, and the Brotli bug reaches well beyond Node 🇧🇷 Brazil's Ibovespa fell 13.88% in a day and the real had its worst session in 25+ years. Why a digital bearer asset protects property rights 🧠 Calacanis says sell bitcoin for superintelligence. Meta's $95B raise and Trump's inflation comments show why equity isn't money 🏦 Google previews bitcoin-compatible MPC custody for banks. No seed, no unilateral control and how it compares to multisig 📈 ICE and Stan Druckenmiller back trade[XYZ] to bring 24/7 Hyperliquid perps onshore, with or without CLARITY 📉 Paul Kedrosky's gut check on the AI bull thesis: the first lab to stop training wins, and…