E185: Ethena CEO: This $7B Crypto Company Just Launched An App That Pays You To Spend Money

<p>Guy Young built Ethena from zero to billions in under two years. </p><p>In this conversation, we talk about the one crypto product he believes can reach 100 million users: a yield-bearing dollar in a mobile app. </p><p>The goal is for it to feel like a normal fintech app where users don&#39;t even know crypto is powering it underneath. Just save, spend, and send to anyone in the world. </p><p>THE SHIFT NEWSLETTER</p><p>💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter</p><p>___________</p><p>PARTNERS</p><p>⚖️ Variational aggregates liquidity to offer industry-leading depth on crypto, equities, commodities, and more:<a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUM4Zm9rVDN1dk4tMEpSMHJsbExFeEtqT3RqOHxBR3JiS2FuNGFrV0lnanlvQkozTWw0amNmTDVmVmNfbUx5S2ZGV2dnSXZpSXlfcl9jTFlCMzRUc2cxNm51ZENoUjBNN2tRakpUdWZlTklUdGhlR2EtR0txbXdHaE9KSUI1VEZt&q=https%3A%2F%2Fwww.variational.io%2F&v=cry8zFlpgAc"> <u>https://www.variational.io/</u></a> </p><p>🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana:<a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUM4Zm9rUXFpT0dyaXFCNXJlMDhHcDU0QjJLVHxBR3JiS2FuRmhwUG5JdE5MQ0x1TFZjbnRUTmxnNkQzcFNlNFZYZWdyVzFtVnVuWTRCTTViOFphM2h1NUtMM1dCWnp2Tlk5bDlSZ19yNzBIaWQ2dGJNNExXQl9TMDdWY0g3QjQ0&q=https%3A%2F%2Fjup.ag%2F&v=cry8zFlpgAc"> <u>https://jup.ag/</u></a> </p><p>💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries - Get $20 Signup Bonus -<a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUM4Zm9rUUVUM2ItNFlZV0NJWWxTcks1SnBDVHxBR3JiS2FsekhZQmJ0Tnk5ZkNLeGs0SkRiY3ZrSVFmR253MFhOTzdzelNMaHJHYmMwVkxVLW1hRVl3SHVtUWVTWUU3Z1QwcDNBRGxMSTRueVFwT2ZreElvcmdPd3g1algyT2JO&q=https%3A%2F%2Fgo.kast.xyz%2FVqVO%2FSHIFT&v=cry8zFlpgAc"> <u>https://go.kast.xyz/VqVO/SHIFT</u></a> - promo code: SHIFT </p><p>🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more.<a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUM4Zm9rVDBZVmhCZmctMlNIbjJ3cmp4dWxMVHxBR3JiS2FsSzZYT0J2V29zQVBaRy1BVkJXN3dkeW1jay1XVDFQM0tTSmRIOWxpcUhtWFFOOWNkUi1uUmdYbUhKRHlmWDF3cURKRDEtMk9hX2YyWVNyQlBuTjVjbHpTUlZnakJ0&q=https%3A%2F%2Fbitwiseinvestments.com%2F&v=cry8zFlpgAc"> <u>https://bitwiseinvestments.com/</u></a> </p><p>⚖️ Ethena is a synthetic dollar protocol on Ethereum, offering a crypto-native, non-bank-dependent stablecoin called USDe. It uses a delta-neutral hedging strategy with staked ETH to maintain a $1 peg.<a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUM4Zm9rVG9weGtwaFUtZmswYmpMXzFGWVdEbXxBR3JiS2FsQkRTRVRQY1hTYjdLZDVCbnM1aFQ0Rmg2cW1iV1FWR1JhaTU3amJla0RsNWRhY1VLUEluTEtrejFKb3VZaTVZOGhXcnlHX3lJbmEtYklfQ1BrZlJfQnVBcEE3a2ZB&q=https%3A%2F%2Fethena.fi%2F&v=cry8zFlpgAc"> <u>https://ethena.fi/</u></a> </p><p>♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies.<a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUM4Zm9rVGVNaGhvQVhpS05XUUxIV1MzOGpyenxBR3JiS2FrTVdEUUlCUV82R3RNWlR2VmFlWkp1S3R5bUVEVEVLRWZqaGVjUFBIendIZG5hblBISXQ2OXhuZUQzako2RTRQWEZCRGw1N0Rud0djTjktYlBiYTFPZWhFNTJ5QVVN&q=https%3A%2F%2Fwww.coinsilium.com%2F&v=cry8zFlpgAc"> <u>https://www.coinsilium.com</u></a> </p><p>🚀 Kalshi is a US regulated financial exchange that allows users to trade on the outcomes of real-world events :<a href="https://www.youtube.com/redirect?event=video_description&redir_token=QUM4Zm9rUU9OMmppcmFCY3BOdndSX0tDMnJ3bnxBR3JiS2FsUUlicVdVU2k4a1FBZWFXQXVoMVVSZEFUMzQ5bVJsaG5vZC16UTFqQ29FdFdlTWJLVXRrc1pRUzdtMVFtT3RkbWlRanJTREEyR1d0eVBOZ1V6bEpmWUJPRS1XUWlK&q=https%3A%2F%2Fkalshi.com%2Fcategory%2Fcrypto&v=cry8zFlpgAc"> <u>h