Inside Coinbase's Bitcoin-Backed Loans | Paul Frambot, Morpho Labs

In today's episode Morpho CEO Paul Frambot breaks down their partnership with Coinbase that enables Bitcoin-backed loans through DeFi infrastructure. The conversation explores how Morpho's modular architecture allows seamless integration for major institutions while maintaining transparency and risk controls. Paul discusses Morpho's evolution from focusing purely on institutional clients to balancing both retail and B2B strategies. To close Mike and Paul discuss their thoughts on regulation, memecoins, and the challenging balance between innovation and user protection in DeFi. - - Follow Paul: https://x.com/PaulFrambot Follow Mike: https://x.com/MikeIppolito_ Follow Expansion: https://x.com/ExpansionPod_ Subscribe on YouTube: https://www.youtube.com/@ExpansionPod Subscribe on Apple: http://apple.co/4bGKYYM Subscribe on Spotify: http://spoti.fi/3Vaubq1 Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Timestamps: (00:00) Introduction (02:08) US Crypto Strategic Reserve (15:26) Tether's USDT Zero (23:28) USDC vs USDT (30:22) Ink vs Base Interop (34:08) App Chains vs Gen Purpose (38:42) Do Bitcoiners Want L2s? (50:12) Solana's Market Share (54:29) Coinbase USDC Loans on BTC (59:58) Unwarranted Bankless Fire (01:03:57) Crypto's Funding Mechanisms - - Disclaimer Expansion was kickstarted by a grant from the Celestia Foundation. Nothing said on Expansion 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. Rex, Jon, and our guests may hold positions in the companies, funds, or projects discussed.