Most people think crypto yield comes from magic internet money. Spoiler: turns out it's mostly just tokenized T-bills now. @SebVentures from @SteakhouseFi explains how real yield infrastructure is being built and what comes after tokenized treasuries. Timestamps: 00:00 - Introduction 01:36 - Mission: Transparent finance 02:38 - The rise of stablecoins 04:11 - What stablecoin risk really means 06:08 - Abstracting stablecoin UX 08:52 - Tokenized T-bills + transparency 09:54 - USD dominance and free market concerns 13:42 - Crypto-backed loans 15:27 - The basis trade and private credit 17:00 - Aggregators vs. direct allocation 19:44 - Exciting yield sources emerging 25:13 - Making stablecoins work for you 27:37 - Innovations steakhouse is watching 30:22 - Fixed-rate borrowing for real life 30:55 - What’s next
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