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Sidney Powell

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53

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2025-06-25

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2025-06-25

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1

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1. “Yeah, a lot to unpack there. You're quite right. So we came into the space doing under collateralized lending. And the thinking was we had to meet the customers where they were. So if we had tried to come in in 2020 or early 2021 with another over collateralized lending product, it was already oversaturated in the DeFi space. You had compound Ave Maker. And then in the DeFi space, it was even more oversaturated. You had Celsius, Blockfire, Genesis, Voyager. And so we really would have struggled to compete. So we came in with a differentiated model where we focused on having multiple pools run by what we call delegates, but effectively like credit fund managers. And we focused on pooling capital and then doing loans to market makers who we felt were underserved and they didn't want to borrow over collateralized. And so that gave us a natural set of customers.”

   2025-06-25 · Forward Guidance · DeFi Lending Will Eat Wall Street By 2030 | Sidney Powell · IDENTIFIED FROM THE TRANSCRIPT

2. “you And that was when I kind of first started getting into crypto. So, this is like 2018. And then it was early 2019 that we wrote the first white paper for what has now become Maple. But at the time, the idea was just doing tokenized bonds on chain. But it was so early that there was nothing to tokenize. There were no real investors on chain. And the concept of financial products was so early that they were still having a debate around whether DeFi would be called decentralized finance or open finance. That's how long ago it was.”

   2025-06-25 · Forward Guidance · DeFi Lending Will Eat Wall Street By 2030 | Sidney Powell · IDENTIFIED FROM THE TRANSCRIPT

3. “Good question. So I come from traditional finance space. I used to work in banking. So I was in one of the large commercial banks in Australia, National Australia Bank. And while I was there, I was doing kind of an esoteric thing called securitization. But what it meant is I would help lending companies to borrow. So they would borrow really large amounts, break it into smaller amounts, and then give home loans and car loans to their clients. And so I was doing that for a few years, but I really wanted to do, I wanted to be more of a startup kind of entrepreneurial environment. Obviously, that's a massive bank, so it's kind of the other end of the spectrum, you know, 10,000 plus employees. And so I went to a smaller commercial lending company, and I was managing their treasury. So that meant I had to line up their finance to help them borrow so they could give out loans to their clients, which were small businesses. And it was kind of while I was there, I met my co-founder, Joe.”

   2025-06-25 · Forward Guidance · DeFi Lending Will Eat Wall Street By 2030 | Sidney Powell · IDENTIFIED FROM THE TRANSCRIPT