Crypto Long & Short: Bitcoin-backed loans belong in the cost-of-capital conversation

May 20, 2026 - 17:45
Crypto Long & Short: Bitcoin-backed loans belong in the cost-of-capital conversation
Welcome to our institutional newsletter, Crypto Long & Short. This week: Alec Beckman on why BTC-backed lending is not a crypto story, but a capital efficiency story. Serena Sebastiani on how stablecoins aren’t a crypto product; they’re becoming the settlement infrastructure global finance forgot. Top headlines institutions should pay attention to by Francisco Rodrigues. “Ethena’s...

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