In this double-header episode of Bits + Bips, Steven Ehrlich first speaks with Figure CEO Mike Cagney about why most tokenization projects fail, how Figure built an onchain mortgage replacement, and why he believes big banks may now be leading blockchain innovation.Then, Jason Brett joins the show to explain how an upcoming crypto market structure bill could expose President Trump’s World Liberty Financial as centralized, and why that matters for DeFi, regulation, and the industry’s credibility.Sponsors: Uniswap MantleHost: Steve Ehrlich, Executive Editor at UnchainedGuests: Mike Cagney, Co-founder and CEO of  Figure Technology Solutions Jason Brett, Former Banking Regulator With FDICLinks: Unchained: Inside Robinhood’s Big Super App Plan: ‘There’s Still a Lot of Work to Be Done’ Coinbase Launches Stock Trading and Prediction Markets How the GENIUS Act Creates a Built-In Advantage for Banks and Deposit TokensLearn more about your ad choices. Visit megaphone.fm/adchoices