CryptoNews Podcast
#483: Nassim Eddequiouaq, CEO of Bastion, on The 10/10 Crypto Crash, The Future of Stablecoins, and Enterprise Stablecoin Adoption
CryptoNews Podcast
•October 16, 2025•36 min
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CryptoNews Podcast•Oct 16, 2025
Key Takeaways
- •Tariff announcements triggered the 10/10 crypto crash.
- •DeFi infrastructure absorbed liquidation surge better than previous crises.
- •Athena stablecoin depegged due to complex synthetic design.
- •Enterprise adoption of regulated stablecoins improves treasury efficiency.
- •Market makers hit limits, exposing liquidity vulnerabilities across venues.
Pulse Analysis
The Friday night tariff announcement on China ignited the so‑called 10/10 crypto crash, sending a cascade of liquidations through both CeFi and DeFi venues. While traditional markets were closed, crypto’s 24‑hour nature amplified the shock, but the underlying infrastructure proved more resilient than during the post‑FTX turmoil. Chains like Solana and newer DeFi protocols processed massive transaction volumes with lower fees, demonstrating that the ecosystem’s scalability has finally caught up to market demand.
Stablecoins dominated the conversation, especially the Athena USD‑E (USDE) depeg that fell into the mid‑60s. Unlike regulated coins backed by cash, government securities, and audited reserves, Athena relies on a synthetic structure that pairs spot exposure with derivative short positions. This complexity creates real‑time collateralization risk, making price dislocations more likely when market stress hits. The episode highlighted the need to differentiate synthetic dollars from fully collateralized stablecoins, as the former can experience rapid depegs without the safety nets that regulators enforce for assets like USDC or USDT.
Looking forward, enterprise interest in regulated stablecoins is accelerating. Bastion’s platform enables Fortune 500 firms to issue compliant digital dollars, streamlining cross‑border treasury operations, reducing reliance on legacy banking rails, and cutting transaction costs. By offering a certified, on‑chain issuance framework, Bastion positions itself at the forefront of the next wave of corporate finance, where stablecoins become the backbone of global cash management. As more large companies adopt these solutions, the market will likely see tighter integration between traditional finance and blockchain, driving both liquidity and stability across the crypto ecosystem.
Episode Description
Nassim Eddequiouaq is co-founder and CEO of Bastion, a pioneer in regulated stablecoin infrastructure and NYDFS-certified provider. Bastion is the stablecoin issuance platform for financial institutions and enterprises. Prior to founding Bastion, Nass was the Chief Information Security Officer at a16z Crypto, and held senior management roles across Security and Infrastructure at Facebook, Anchorage, Docker, and Apple. He received a M.S. in Computer Science from Ecole d’Ingénieurs en Informatique.
In this conversation, we discuss:
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What happened on the 10/10 crypto crash?
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Winners and losers after the crypto crash
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Bridging traditional finance and digital assets through enterprise-ready solutions
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The diverse use cases of stablecoins
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Why stablecoins (especially USD-pegged) are poised for mass enterprise adoption
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The growing interest in branded stablecoins
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Bastion’s NYDFS trust charter
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GENIUS Act and STABLE Act
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Why regulatory clarity is critical
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Privacy for stablecoin users
Bastion
X: @BastionPlatform
Website: bastion.com
LinkedIn: Bastion
Nassim Eddequiouaq
X: @nassyweazy
LinkedIn: Nassim Eddequiouaq
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