{"podcast":{"title":"The Bitcoin Matrix","slug":"the-bitcoin-matrix-2537137","podcast_index_feed_id":2537137,"rss_url":"https://feeds.fountain.fm/paBeJqepFBns3bT2OAtC","website_url":"http://bitcoinmatrix.libsyn.com/website","image_url":"https://feeds.fountain.fm/paBeJqepFBns3bT2OAtC/files/COVER_ART---DEFAULT---effa9a4e-bebf-4845-9469-198037e3df43.jpg","author":"Cedric Youngelman","episode_count":286,"summary":"Let's explore Bitcoin, the future of money and the social, cultural, economical and philosophical implications of this new technology. Hosted by Cedric Youngelman.","last_synced_at":"2026-07-26T18:18:32.690390+00:00","page_url":"https://stenobird.com/podcast/the-bitcoin-matrix-2537137"},"episode":{"title":"Rehypothecation Is Cryptographically Impossible — Martin Matejka, Firefish CEO","slug":"rehypothecation-is-cryptographically-impossible-martin-matejka-firefish-ceo","published_at":"2026-06-09T10:00:29+00:00","page_url":"https://stenobird.com/podcast/the-bitcoin-matrix-2537137/rehypothecation-is-cryptographically-impossible-martin-matejka-firefish-ceo","show_page_url":"https://stenobird.com/podcast/the-bitcoin-matrix-2537137","url":"https://fountain.fm/episode/eapfVCfbUZtaCmjE7Deh","audio_url":"https://feeds.fountain.fm/paBeJqepFBns3bT2OAtC/items/SeED2WcxBEgZ3iMobEr1/files/AUDIO---DEFAULT---1b6f03e6-bba0-4c74-87f7-3e9f99fc26ba.mp3","summary":"\"Rehypothecation is cryptographically impossible.\" Martin Matejka joins the show to break down the rise of Bitcoin-native lending, Firefish's 3-of-3 multisig + DLC architecture, and why the February 6 stress test was the day Bitcoin-backed credit grew up. We discuss why rehypothecation can be engineered out rather than promised away, how Firefish thinks about LTV, margin-call cadence, and the three warnings before liquidation, and why $160 million in non-custodial loans across 27,000 users in 70 countries is the proof a Bitcoin-native lender can scale. Subscribe so you never miss an episode. 🎙️ GUEST Martin Matejka, Co-founder & CEO of Firefish → firefish.io Firefish on X → x.com/Firefish_io 💰 SPONSORS & DISCOUNTS 🐟 Firefish — Don't sell your Bitcoin. Live off it. Non-custodial Bitcoin-backed loans. Your keys stay in 3-of-3 multisig. Rehypothecation is cryptographically impossible. $160M+ facilitated. 27,000+ users across 70 countries. firefish.io/?ref=MATRIX | code MATRIX 🔑 Stamp Seed — Between 3-6 million Bitcoin are lost forever. Most of it paper. Hammer your seed words into solid titanium — fire-resistant to 3,000°F. 15% OFF stampseed.com | code MATRIX 🟠 Club Orange — The location-based social network built for the Bitcoin community. Find Bitcoiners, meetups, and merchants near you. Download in the App Store or Google Play. cluborange.org/matrix-podcast 🏕️ Camp Nakamoto — Bitcoin summer camp. Private island. Lake Winnipesaukee, NH. June 18-21. I'll be speaking there. 15% OFF campnakamoto.com | code MATRIX 🔐 Unchained — 90,000+ BTC secured in collaborative multisig since 2016. Bitcoin-only. Never lent out a sat. IRAs, loans, inheritance planning. 10% OFF unchained.com/matrix | code MATRIX10 💎 River — Buy Bitcoin the right way. Up to $100 FREE Bitcoin. river.com/matr…","meta_description":"\"Rehypothecation is cryptographically impossible.\" Martin Matejka joins the show to break down the rise of Bitcoin-native lending, Firefish's 3-of-3 multi…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2164,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/the-bitcoin-matrix-2537137/episodes/rehypothecation-is-cryptographically-impossible-martin-matejka-firefish-ceo/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/the-bitcoin-matrix-2537137/rehypothecation-is-cryptographically-impossible-martin-matejka-firefish-ceo.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}