
Gm! This week we're joined by Carson Cook & James Roth from Membrane Labs to discuss the current state of crypto lending. We deep dive into the differences between crypto's 2021 cycle & today, the Terra/Luna fallout, institutional appetite for lending in crypto & much more. Enjoy!
--
Follow James: https://x.com/juniorroth22
Follow Carson: https://x.com/LiquidityWizard
Follow Jason: https://twitter.com/JasonYanowitz
Follow Empire: https://twitter.com/theempirepod
Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh
Start your day with crypto news, analysis and data from Katherine Ross. Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts
--
Use Code EMPIRE10 for 10% off tickets to Digital Asset Summit 2025: https://blockworks.co/event/digital-asset-summit-2025-new-york
--
ZKsync is the pioneering zero-knowledge technology powering the next generation of builders with limitless scale. Secured by math and designed for native interoperability, ZKsync enables an elastic, ever-expanding network of customizable chains.
Deeply rooted in its mission to advance personal freedom for all, the ZKsync technology makes digital self-ownership universally available.
To learn more about ZKsync, visit http://www.zksync.io
--
Token.com is a social-first crypto platform transforming how people discover and trade through crypto content. The revolutionary in-feed trading turns complex crypto into intuitive investments, while content creators earn from every trade and projects amplify their stories through native tokens - creating a new era of social media-powered crypto discovery. Just scroll to watch and tap to invest. Download the app!
--
Get up to speed on the biggest stories in crypto each week. In five minutes.
Get the Bitwise Weekly CIO Memo delivered directly to your inbox at bitwiseinvestments.com/ciomemo/empire
--
WalletConnect is the onchain connectivity network . If you’ve connected to a Web3 app, you’ve seen WalletConnect. It’s everywhere—an icon of trust in crypto, as recognizable as Visa at checkout.
The numbers speak for themselves: Over 220 million connections and 35 million users worldwide use WalletConnect to power their Web3 experience. @WalletConnect on X and Telegram or visit https://WalletConnect.Network
--
Timestamps:
(00:00) Introduction
(00:40) Crypto's Leverage Unwind In 2021-22
(08:41) The Terra/Luna Fallout
(14:30) Ad ZKSync
(15:35) What We Learned From Last Cycle
(19:11) Who Are The Big Lenders In This Cycle?
(23:32) Ad ZKSync
(24:37) Token Generation Events
(31:02) Will Institutions Start Lending In Crypto?
(35:08) Ads (Token.com. Bitwise, WalletConnect)
(37:22) What Is Membrane?
(48:40) Over vs Under Collateralized Lending
(58:22) What Will Blow Up This Cycle?
--
Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.