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1/ Introducing the Crypto Banking System, a roadmap to bring DeFi to be a challenger to TradFi
cryptobanking.network/the-crypto-ban…
cryptobanking.network/the-crypto-ban…
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SebVentures retweeted
Steakhouse will feature at the @block_stories Horizon event in London next Monday 🇬🇧
A keynote and a workshop on how vaults are used today, and how vault curation is shaping institutional onchain products.
Register now:
Workshop: luma.com/cwufkzk1?tk=fQ…
A keynote and a workshop on how vaults are used today, and how vault curation is shaping institutional onchain products.
Register now:
Workshop: luma.com/cwufkzk1?tk=fQ…
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SebVentures retweeted
Steakhouse Financial is an onchain vault curator and advisory firm for the stablecoin economy.
Sebastien Derivaux (@SebVentures), Co-Founder at @SteakhouseFi, will take the stage at Stable Summit IV and Capital Summit in London.
Secure your spot: london2026.stablesummit.xyz
Sebastien Derivaux (@SebVentures), Co-Founder at @SteakhouseFi, will take the stage at Stable Summit IV and Capital Summit in London.
Secure your spot: london2026.stablesummit.xyz
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Kind of collateral in DeFi will flip in 2027 and crypto collateral will go below 50%.
Or we will have a insane bull market.
Not sure which outcome I prefer.
Or we will have a insane bull market.
Not sure which outcome I prefer.
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Interesting difference in behaviors between @ethereum and @base main @Morpho market.
On @base borrowers are stable and a decrease in supply, need to be fixed with an manual inflow of supply (which comes with a lag).
On @ethereum , a supply decrease, triggers directly (I guess wer to deleverage its carry trade, vaults to divest from the market. ... Until the borrower comes back because of lower rates which is again compensated by vault allocation (automatic).
On @base borrowers are stable and a decrease in supply, need to be fixed with an manual inflow of supply (which comes with a lag).
On @ethereum , a supply decrease, triggers directly (I guess wer to deleverage its carry trade, vaults to divest from the market. ... Until the borrower comes back because of lower rates which is again compensated by vault allocation (automatic).
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SebVentures retweeted
If you have only ever covered the financial industry in the "moral hazard" era of socialized losses, the concept of a company privatizing the consequences of a loss to its shareholders will be so alien and unparseable, it can be glossed over in two sentences.
Binance’s $6.3bn heist is the biggest . . . but not the first ft.trib.al/mvTWipm
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SebVentures retweeted
Binance is reported to have suffered a significant hot wallet hack. We have been monitoring since the first reports. Tether and Circle have frozen a significant amount of USDT and USDC linked to the incident. Ethena, Maple, mF-ONE, FalconX and other collateral issuers onboarded to Steakhouse vaults on all available chains have confirmed no impact. Our only indirect exposure is to Ethena, which has confirmed limited potential impact ($8.8M) via unrealized basis positions, fully covered by the reserve fund ($60M) in a worst-case scenario if there is a failure to realize.
Our systems have triggered, on a precautionary basis, to withdraw liquidity from a number of markets. We are reviewing these manually and will release throughout the next few hours.
The situation is fluid and may evolve rapidly. We will continue to monitor the situation and provide updates as we receive them.
Our systems have triggered, on a precautionary basis, to withdraw liquidity from a number of markets. We are reviewing these manually and will release throughout the next few hours.
The situation is fluid and may evolve rapidly. We will continue to monitor the situation and provide updates as we receive them.
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Thrilled to be speaking at Digital Asset Summit 2026 in London this November 10 and 11 at the Hilton on Park Lane. Come find me there. @blockworksDAS blockworks.com/event/digital-…
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Jupiter Lend has $981.24M in active loans on Solana, more than Aave, the largest DeFi lender, has lent on any network except Ethereum.
Aave's next-largest is Plasma at $756.40M. Compound V3 has $648.53M across all its networks.
@JupiterExchange
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Up to $500M to provide funding against tokenized stocks.
This is rebuilding finance ... onchain.
This is rebuilding finance ... onchain.
Steakhouse is onboarding Robinhood Stock Tokens as collateral in Morpho Vaults on @RobinhoodCrypto Chain.
Initial supply caps are set for an observation period, allowing integrators to build on these markets while demand develops.
Powered by @Morpho. Curated by Steakhouse.
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Now is a probably a good timing to add HY corporate bonds fund as collateral on onchain repo markets with both a term premium and a nice credit spread.
Especially as USDT borrow rate are at 3% those days.
Especially as USDT borrow rate are at 3% those days.
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A MiCA supervised stablecoin failed 6-months ago due (apparently) to poor opsecs.
I feel the answer will be that we need MORE supervision and paper filling.
Not that there is an answer yet anyway.
Meanwhile, USDT is still #1 stablecoin but banned from EU.
I feel the answer will be that we need MORE supervision and paper filling.
Not that there is an answer yet anyway.
Meanwhile, USDT is still #1 stablecoin but banned from EU.
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Much of what we do at @SteakhouseFi, as well as my own writing, is deeply inspired by @PMehrling. It's why we saw DeFi protocols as balance sheets from the very beginning.
Ever since taking his course more than a decade ago, and revisiting it regularly over the years, I've been heets.
I always hoped to convince him that USDC was more than just "casino chips where money is long gone." Sadly, that conversation will remain unfinished.
Eternally grateful for everything he taught me.
Ever since taking his course more than a decade ago, and revisiting it regularly over the years, I've been heets.
I always hoped to convince him that USDC was more than just "casino chips where money is long gone." Sadly, that conversation will remain unfinished.
Eternally grateful for everything he taught me.
Perry Mehrling, RIP.
According to the History of Economics Society, Perry Mehrling died "Monday night from injury sustained in a fall several days earlier." He was Professor of International Political Economy at Boston University and, previously, longtime Professor of Economics was a highly esteemed historian of economics.
Here is his homepage:
sites.bu.edu/perry/
His last book: "Money and Empire: Charles P. Kindleberger and the Dollar System"
amzn.to/47RVhJ2
"Charles Kindleberger ranks as one of the twentieth century's best known and most influential international economists. This book traces the evolution of his thinking in the context of a 'key-currency' approach to the rise of the dollar system, here revealed as the indispensable framework for global economic development since World War II. Unlike most of his colleagues, Kindleberger was deeply interested in history, and his economics brimmed with real people and institutional details. His research at the New York Fed and BIS during the Great Depression, his wartime intelligence work, and his role in administering the Marshall Plan gave him deep insight into how the international financial system really operated. A biography of both the dollar and a man, this book is also the story of the development of ideas about how money works. It throws revealing light on the underlying economic forces and political obstacles shaping our globalized world."
Charles Goodhart: "The discipline of economics is balanced, somewhat unsteadily, between two legs, with the skill of the historian on one side and of the mathematical modeler on the other. In the second half of the 20th century, the tide flowed strongly to elevate the second leg and to diminish the first. In this delightful biography of Charlie Kindleberger, a charming and loveable man, Perry Mehrling shows how Charlie, in his chosen role, as an international monetary economist, fought against that tide, often unsuccessfully. Perry writes so beautifully that one would only need a smattering of economics to enjoy the tale; while if one is interested in the history of economic thought in international monetary economics, then this book is, of course, a must read.'
amzn.to/47RVhJ2
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SebVentures retweeted
Ralf Taner (@MontBlancDeFi) of @NexusMutual notes that admin key compromise and OpSec incidents sit outside Protocol Cover today. His route to covering them: higher operational security standards that protocols attest to and underwriters monitor.
Watch our panel with Andrew ings, Sébastien Derivaux (@SebVentures) on Steakhouse Financial (@SteakhouseFi), and Anastasiia Zbandut (@mathy_research) of Blockworks Advisory (@BlockworksAdv).
Watch our panel with Andrew ings, Sébastien Derivaux (@SebVentures) on Steakhouse Financial (@SteakhouseFi), and Anastasiia Zbandut (@mathy_research) of Blockworks Advisory (@BlockworksAdv).
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SebVentures retweeted
Most retail investors pay ~10% to borrow against their stocks. In DeFi, it's 4.5%.
@SebVentures of @SteakhouseFi on why tokenized stocks are where DeFi can actually beat TradFi.
@SebVentures of @SteakhouseFi on why tokenized stocks are where DeFi can actually beat TradFi.
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