Why Institutions Are Turning to Figment for Staking

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The latest Talking Tokens podcast 🎙️

On today’s Talking Tokens episode, we’re sharing an interview I did with Lorien Gabel, co-founder and CEO of Figment, at the Wyoming Blockchain Symposium.

Figment is one of the leading non-custodial staking provider supporting over a thousand institutional clients. Figment works with asset managers, custodians, exchanges, foundations, and wallets, helping institutions securely access crypto yield.

Lorien shares his journey from building internet infrastructure companies to founding Figment in 2018. We discuss how staking has evolved, why distribution is Figment’s moat, what institutions want from staking, and how regulation is reshaping the industry. He also breaks down misconceptions about custody, the rise of liquid staking, global adoption trends, and why staking may soon become as common as dividends or savings accounts.

Timestamps
00:00 - Intro: Who is Lorien Gabel?
00:57 - Figment overview: one of the largest non-custodial staking provider
02:10 - Founding story: co-founders & early staking with Tezos
03:47 - Differentiation: focusing on institutions & distribution
05:24 - Lessons from Microsoft/Intel: distribution as a moat
06:24 - Traits of successful founders: stoicism in volatile markets
08:47 - Figment’s $1.4B valuation & growth journey
10:27 - Defining staking clearly: protocol security vs DeFi rewards
13:10 - Institutions adopting staking via ETFs and treasuries
15:30 - Why storytelling and scale matter (Saylor effect)
19:20 - Regulation shifts & U.S. institutions re-entering staking
22:10 - Liquid staking: benefits, risks & institutional appetite
24:40 - Global adoption: Europe, Asia, and emerging markets
27:10 - Future outlook: staking as common as savings accounts
29:00 - Final advice: treat crypto like a game, stay steady, enjoy it

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Money and people moves

1. Growth equity fund manager 50T adds Michael Scott, co-founder of Farmstead Capital Management, as partner

2. Liz A., also known on X as “Voh,” joined Avalanche to lead ecosystem innovation (this follows her departure from Magic Eden after 3.5 years)

3. George Calle joined Inversion Capital as head of research

4. Credit Coop, a protocol focused on credit markets, raised $4.5M in a funding round led by Lightspeed Faction

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Please note that this content is for informational and entertainment purposes only. Any views shared should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research. We may have a direct or indirect financial interest in content mentioned in this newsletter.