At Consensus 2026 in Miami, industry leaders emphasized the need for bitcoin lenders to adopt traditional finance standards to attract institutional capital. Alexander Blume, CEO of Two Prime, highlighted the importance of standardization, transparency, and risk management in the next phase of crypto credit growth. This shift follows the 2022 collapses of Celsius, Voyager, and BlockFi, which exposed the risks of opaque leverage and weak risk controls. Panelists noted that institutional borrowers are moving away from complex DeFi structures towards products with transparent custody and standardized contracts. The discussion underscored the misalignment between crypto-native finance, which values permissionless access and capital efficiency, and institutional finance, which prioritizes predictability and legal accountability. The practice of rehypothecation was identified as a key risk, with lenders stressing the importance of understanding where Bitcoin is stored and the need for borrowers to "underwrite the lender."