🚨NEW: Wall Street is talking up tokenization, but @Figure’s President of Digital Assets @reidlikeabook says much of it is “lip service.” He joins us to explain why putting a big name on an onchain product doesn’t make it useful and why lending could be where crypto proves its worth. We also explore whether bringing loans onchain can make borrowing cheaper for homeowners and how Figure is preparing for a potential swing of the political pendulum back against crypto. Timestamps: 00:00 Meet Reid Simon of Figure 00:27 Breaking Down Wall Street's Financial Barriers 03:24 How Figure's Onchain Lending Model Works 09:09 Can Blockchain Make Home Equity Loans Cheaper? 13:36 Figure's $5.1 Billion Loan Marketplace Growth 14:41 What Crypto Lending Learned From the 2022 Collapse 16:31 Why Reid Says Wall Street's Tokenization Push Is Mostly Lip Service 19:08 How Figure Is Bringing Institutions and Consumers Onchain 24:12 Building Crypto Products Without Regulatory Clarity 27:06 The Product Figure Held Back Over Regulatory Uncertainty 29:28 Banks, Stablecoin Yields and the GENIUS Act 33:25 Why the SEC's Innovation Exemption May Fall Short 38:23 Preparing for Another Regulatory Pendulum Swing 40:24 What's Next for Onchain Credit? Retweeted by @jacqmelinek from @CryptoAmerica_