To kick off the new year, David caught up with Deribit CEO Luuk Strijers and Founder and CEO of Hashnote Leo Mizuhara. They had a lively discussion around the need for high-quality yield-earning collateral and explained why Deribit has partnered with Hashnote to offer institutional clients the best liquidity and attract more Tradfi-type accounts into the space. This is another example of the infrastructure buildout that is happening across crypto and why we remain to bullish long term. David also gives his usual macro rundown covering the liquidity outlook and Imran tells us what he's seeing and doing in crypto options this week.