We Study Billionaires - The Investor’s Podcast Network BTC247: Bitcoin's evolution with Traditional Finance w/ Jon Melton (Bitcoin Podcast)
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Aug 13, 2025 In this engaging discussion, Jon Melton shares his journey from 13 years in currency markets at Morgan Stanley to his current role at Unchained, focusing on Bitcoin-backed loans. He reveals how Wences Casares influenced his Bitcoin conviction and delves into Silvergate Bank's innovative approach to cryptocurrency banking. The conversation covers the importance of over-collateralization in Bitcoin lending, the risks of rehypothecation, and how Bitcoin loans may soon integrate with real estate. Jon explains why he remains optimistic about Bitcoin's future in finance.
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Turning Point From Morgan Stanley To Bitcoin
- Jon Melton left Morgan Stanley after hearing Wences Casares and deepening his Bitcoin research.
- He joined Coinbase competitor Zappo in 2018 to market custody and trading to institutions.
Wences’ Institutional Credibility
- Wences Casares brought credibility and advanced custody design to early Bitcoin adoption.
- His work enabled institutional investors to trust and onboard into Bitcoin custody solutions.
Silvergate’s Origin And Crypto Pivot
- Silvergate began as a small San Diego commercial bank and pivoted when CEO Alan Lane discovered Bitcoin.
- The bank focused on providing fiat rails and accounts to early crypto companies that otherwise struggled to get banking access.
