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Ethena has become one of the hottest projects in crypto lately. Inspired by Arthur Hayes' synthetic dollar idea, Guy Young decided to build Ethena to disrupt the crypto industry. While the project may be challenging for crypto novices to grasp, I endeavored to simplify it by interviewing Guy. Tune in to learn about Ethena and the future of crypto and stablecoins in this episode of The Wolf Of All Streets podcast.\n\nGuy Young: https://twitter.com/leptokurtic_\n\n\u25ba\u25ba Sponsored by iTrust Capital\nInvest in Bitcoin, Crypto Assets & Gold with Your IRA Using iTrust Capital.\n\U0001f449 https://bit.ly/itrust-scott\n\n\u25ba\u25ba JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEK DAY!\n\U0001f449https://thewolfden.substack.com/ \n\n\u25ba\u25ba OKX\nSign up for an OKX Trading Account then deposit & trade to unlock mystery box rewards of up to $10,000! \n\U0001f449 https://www.okx.com/join/SCOTTMELKER\n\n\u25ba\u25baTHE DAILY CLOSE\nBRAND NEW NEWSLETTER! INSTITUTIONAL GRADE INDICATORS AND DATA DELIVERED DIRECTLY TO YOUR INBOX, EVERY DAY AT THE DAILY CLOSE. TRADE LIKE THE BIG BOYS.\n\U0001f449 https://www.thedailyclose.io/ \n\n\u25ba\u25baNORD VPN \nGET EXCLUSIVE NORDVPN DEAL - 40% DISCOUNT! IT\u2019S RISK-FREE WITH NORD\u2019S 30-DAY MONEY-BACK GUARANTEE. PROTECT YOUR PRIVACY!\n\U0001f449 https://nordvpn.com/WolfOfAllStreets \n\n\u25ba\u25baCOINROUTES\nTRADE SPOT & DERIVATIVES ACROSS CEFI AND DEFI USING YOUR OWN ACCOUNTS WITH THIS ADVANCED ALGORITHMIC PLATFORM. SAVE TONS OF MONEY ON TRADING FEES LIKE THE PROS!\n\U0001f449 http://bit.ly/3ZXeYKd \n\nFollow Scott Melker:\nTwitter: https://twitter.com/scottmelker \nWeb: https://www.thewolfofallstreets.io \nSpotify: https://spoti.fi/30N5FDe \nApple podcast: https://apple.co/3FASB2c \n\n#Bitcoin #Crypto #ethena\n\nTimestamps:\n0:00 Intro\n1:20 What is Ethena\n3:36 Sponsor: iTrustCapital - \u0440\u0435\u043a\u043b\u0430\u043c\u0443 \u043f\u043e\u0441\u0442\u0430\u0432\u0438\u0442\u044c \u043d\u0430 4:58\n4:58 Cash-and-carry trade\n5:40 Synthetic dollar, not stablecoin\n6:50 When funding rates go negative\n9:10 27% yield\n12:04 Counterparty risks\n14:10 Terra Luna\n16:10 The peg\n19:00 Understanding the risks\n21:20 The future of USDe\n23:18 Systemic risk\n24:30 Understanding cash-and-carry trade\n25:35 What went wrong with GBTC\n27:04 The product market fit\n30:29 DeFi is still not ready for mass adoption\n32:45 Regulatory pushback\n34:55 How to start with Ethena\n36:00 Keep in touch with Guy\n\nThe views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.