genesis acts as base of the intermediary that faces these institutional counterparties. They need capital, whether it's in e form of crypto, like b t c or eth, or dollars, or stable coin like us d c. On that position, they borrow us d c or dollars from genesis a and pay us an intrest rate on that to then basically place a by order through our trading desk to get that exposure. So you can biscuit do it on either side, which tries if they're borrowing dollars in stable coin or crypto, like disineth.
Coinbase CEO Brain Armstrong took to Twitter to call out the SEC for what Coinbase considers unclear guidance & hostility around their Lend product, Jason breaks down the situation (1:43). Then, to better understand how DeFi lending works Jason interviews Matt Ballensweig the Head of Institutional Lending at Genesis, a crypto prime brokerage (9:51). We close with three "Ask Jason" questions (50:23).