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If you’re waiting for the conversation to shift away from Digital Asset Treasury companies, prepare to wait longer. Same goes for those anticipating a cascade of implosions.

“ You probably end up having an evolution of these DATs, where instead of just putting a one-to-one token in it, DATs basically become this vehicle through which capital ends up getting mobilized in the TradFi world and then deployed onchain at scale,” Yano posited on today’s Empire podcast to Ethena Labs CEO Guy Young.

With that in mind, Yano wondered whether the over-leveraged blowups at the end of 2021 and into…

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