Uploaded September 2025 | Updated September 2026, 2 days ago
This week Guy Young joins the show to discuss the next chapter for Ethena. We deep dive into Ethena's business model, how DATs could enable DeFi's breakout moment, how Ethena will scale in the future, advice for founders & more. Enjoy!
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Follow Guy: https://x.com/gdog97_
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: twitter.com/theempirepod
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Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh
Start your day with crypto news, analysis and data from David Canellis.
Subscribe to the Empire newsletter: blockworks.co/newsletter/empire?utm_source=podcasts
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Is your treasury losing value to inflation? Learn how to make digital assets like ETH and SOL productive with uncorrelated, protocol-driven staking rewards. A new report from Liquid Collective and EigenCloud outlines a practical guide for CFOs to integrate institutional-grade staking and restaking.
Read The Productive Treasury Report: liquidcollective.io/corporate-treasury-staking
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Timestamps:
00:00 Introduction
03:29 The Ethena Business Model
07:04 Valuations & VC Unlocks
12:44 The Ethena DAT (StablecoinX)
15:11 Are DATs Sustainable?
18:36 DeFi’s Breakout Moment
24:12 Partnering With Pendle & Aave
31:49 Ads (Eigen Layer)
32:48 Advice For Founders
37:34 How Does Ethena Scale
44:18 What Is iUSDe?
47:47 Hyperliquid Is Launching A Stablecoin (USDH)
53:39 Corporate Chains
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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.
This week Guy Young joins the show to discuss the next chapter for Ethena. We deep dive into Ethena's business model, how DATs could enable DeFi's breakout moment, how Ethena will scale in the future, advice for founders & more. Enjoy!
--
Follow Guy: https://x.com/gdog97_
Follow Jason: https://x.com/JasonYanowitz
Follow Empire: twitter.com/theempirepod
--
Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh
Start your day with crypto news, analysis and data from David Canellis.
Subscribe to the Empire newsletter: blockworks.co/newsletter/empire?utm_source=podcasts
--
Is your treasury losing value to inflation? Learn how to make digital assets like ETH and SOL productive with uncorrelated, protocol-driven staking rewards. A new report from Liquid Collective and EigenCloud outlines a practical guide for CFOs to integrate institutional-grade staking and restaking.
Read The Productive Treasury Report: liquidcollective.io/corporate-treasury-staking
–
Timestamps:
00:00 Introduction
03:29 The Ethena Business Model
07:04 Valuations & VC Unlocks
12:44 The Ethena DAT (StablecoinX)
15:11 Are DATs Sustainable?
18:36 DeFi’s Breakout Moment
24:12 Partnering With Pendle & Aave
31:49 Ads (Eigen Layer)
32:48 Advice For Founders
37:34 How Does Ethena Scale
44:18 What Is iUSDe?
47:47 Hyperliquid Is Launching A Stablecoin (USDH)
53:39 Corporate Chains
–
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.
