Welcome back to The Bitcoin Treasuries Podcast. Today's guest is Garrett Johnston, Senior Vice President at Marsh. We discuss his career in insurance, risk based capital, Digital Credit in a bear market, talking to retail versus institutions, institutional grade Digital Credit, and more. Here's my conversation with @garrettoj. 0:00 - Intro 0:10 - Garrett’s career in insurance 6:12 - How institutions evaluate risk 18:00 - What is Risk Based Capital? 25:13 - What would be concerning to an institution? 37:05 - Par, peg, and de-peg 40:14 - Digital Credit in a bear market 45:14 - How do Bitcoin Treasury company executives talk to retail vs institutions? 54:00 - Why haven’t Bitcoin Treasury executives been more public in their conviction? 1:03:19 - Institutional Grade Digital Credit