The latest 'Crypto for Advisors' newsletter from Coindesk delves into the evolution of bitcoin-backed lending across decentralized and centralized financial systems. Gregory Mall, CIO at Lionsoul Global, highlights the resurgence of the institutional loan market, while Saros CEO Lynn Nguyen provides insights on tokenized stocks. The newsletter also examines the historical development of crypto collateralized lending, the 2022 market collapse, and the current state of CeFi and DeFi lending. Additionally, it discusses the potential benefits and challenges of integrating tokenized securities into the national market system, as explored by Nasdaq.