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?