The Defiant - DeFi Podcast Crypto’s Point of No Return: Institutions are Finally Here, with Brett Tejpaul
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Feb 4, 2026 
Brett Tejpaul, co-CEO of Coinbase Institutional who builds institutional crypto infrastructure, explains why 2025 was crypto’s turning point. He discusses banks integrating public blockchains, tokenization actually happening, major bank and ETF integrations, and how stablecoin regulation unlocked institutional participation. Short, forward-looking conversation on infrastructure, custody, and mainstream adoption.
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Three Pillars Power Coinbase Institutional
- Coinbase Institutional has three pillars: marketplaces, Prime platform, and asset management.
- Those pillars serve exchanges, custody/trading/financing, and SEC-registered asset management products respectively.
ETFs Fueled Institutional Flows
- Institutional flows exploded with ETFs and Coinbase captured a dominant share of custody and trading for U.S. spot ETFs.
- Brett says Coinbase won most ETF custody mandates and serves top hedge funds and asset managers.
PNC Lets Clients Buy Bitcoin In-App
- Coinbase integrated with PNC so high-net-worth clients can buy and sell Bitcoin inside their bank app.
- Coinbase powers custody and execution behind the scenes for that bank integration.