Blockchain’s Big Leap: Mike Cagney on Rebuilding Finance

Video Description

🔥 *Download Raoul Pal's 5-year investing roadmap for free:* https://rvtv.io/41fVHWF Mike Cagney, co-founder and Executive Chairman of Figure, joins Ash Bennington to discuss how blockchain is transforming capital markets, securitization, and real-world asset financing. Cagney explains the three key value propositions of blockchain — efficiency, liquidity, and financing—while outlining the risks, regulatory challenges, and massive opportunities ahead as trillions shift from banks to DeFi. Recorded August 26, 2025. Timestamps: 00:00 – Intro 00:29 – Guest intro: Mike Cagney (Figure) 00:47 – Why Figure: blockchain to replace trust with truth 02:14 – Mike’s path: Wells Fargo → startup → hedge fund → SoFi 03:49 – SoFi lesson: connect sources & uses of capital 05:21 – From DeFi inspiration to launching Figure (2018) 06:58 – First on-chain securitizations; big cost savings 07:51 – Value prop #1: transactional efficiency (audits $500 → $100) 09:46 – Native digital data: immutable, decentralized, no oracles 14:56 – Value prop #2: liquidity (B2B2C, marketplaces, order books) 18:12 – Value prop #3: DeFi financing & “paró” direct matching 20:21 – Using RWA as collateral: haircuts, depth, volatility, attach rate 21:43 – Stablecoins & the “Genius Act”: trillions shifting on-chain 22:43 – Deposit flight (SVB/FRB) → why DeFi must fill the gap 24:49 – Narrow banking future for regionals 25:48 – Risks: regulation, Clarity Act, industry maturity 29:32 – Building in the gray; regulators warming 33:20 – Figure S-1 / IPO mention 33:56 – Stocks on-chain done right: native assets + DEX (no DTCC/brokers) 38:14 – Final takeaway: watch deposit flight; DeFi is the offset 39:09 – Wrap & CTA 🍌 Get your Banana Zone swag at the Real Vision merch store: https://shop.realvision.com 📣 Elevate your brand with Real Vision. Connect with us at [email protected] to explore advertising possibilities. About Real Vision™: We arm you with the knowledge, the tools, and the network to succeed in your financial journey. 🔥 Get 𝗙𝗥𝗘𝗘 𝗔𝗖𝗖𝗘𝗦𝗦 to Real Vision https://rvtv.io/3YOZZUe Connect with Real Vision™ Online: Twitter: https://rvtv.io/twitter Instagram: https://rvtv.io/instagram Website: 🔥 https://rvtv.io/3Y4t5Pw Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf