The Crypto Tape – DeFi, Prediction Markets, and the Wallet Problem with Mike Cagney

Mike Cagney is the Chairman of Figure, a company that has originated more than $25 billion of assets on-chain and built what may be the only liquid non-agency credit market in existence outside of Fannie and Freddie. Before Figure, he co-founded SoFi.In this episode of The Crypto Tape, Frank Chaparro sits down with Mike to work through the actual mechanics of bringing real-world credit onto blockchain, why the street is now moving faster on RWA than the native crypto community, and what's still standing between DeFi and mainstream scale.Mike's case is concrete: DeFi is asset-based lending. The framework and technology is built, but the missing piece is a wallet good enough for every day use.Until that gets solved, the ecosystem stays subscale no matter how many assets get tokenized.