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Soil’s XRPL Vaults open tomorrow. Here is how you can deploy your capital: 💧 Liquid Vault: 5% APR. Max liquidity. T-Bills & MMFs. 📈 Yield Vault: 7% APR. Market Neutral strategies. 🏦 Credit+ Vault: 8% APR. Private Credit-backed. Sign up now: 👉

Soil

85,232 subscribers

35,838 views • 5 months ago •via X (Twitter)

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🟢 SOIL VAULTS ARE LIVE. 💧 Liquid Vault: 5% APR. Max liquidity. T-Bills & MMFs. 🏦 Credit Vault: 7% APR. Private Credit-backed. No more caps. No more limits. Just real yield. Commit your $RLUSD:

🟢 SOIL VAULTS ARE LIVE. 💧 Liquid Vault: 5% APR. Max liquidity. T-Bills & MMFs. 🏦 Credit Vault: 7% APR. Private Credit-backed. No more caps. No more limits. Just real yield. Commit your $RLUSD:

Soil

61,176 views • 5 months ago

The time has come. In exactly 7 days, $SOIL will open the first institutional-grade yield vaults on XRPL. We will offer 3 different products to fit your strategy: 💧 The Liquid Vault 📈 The Yield Vault 🏦 The Credit+ Vault

The time has come. In exactly 7 days, $SOIL will open the first institutional-grade yield vaults on XRPL. We will offer 3 different products to fit your strategy: 💧 The Liquid Vault 📈 The Yield Vault 🏦 The Credit+ Vault

Soil

22,316 views • 6 months ago

🟢 SOIL VAULTS ARE LIVE. The Liquid, Yield, and Credit+ Vaults are officially OPEN. 🔒 Cap: $1M ⚡ APR: Up to 8% Fixed. 🌱 Extra Rewards: SEED Points. Stop holding. Start earning. Sign up and commit here:

🟢 SOIL VAULTS ARE LIVE. The Liquid, Yield, and Credit+ Vaults are officially OPEN. 🔒 Cap: $1M ⚡ APR: Up to 8% Fixed. 🌱 Extra Rewards: SEED Points. Stop holding. Start earning. Sign up and commit here:

Soil

29,716 views • 5 months ago

If your $10k is making $2–$4/day, you’re not “safe.” You’re just subsidizing someone else’s yield. Goblin Vaults: $8–$30/day. ⚡ Auto-compounding ⚡ No lock-ins ⚡ ExVul-audited Spots fill fast — early vault users take the cream, latecomers get crumbs. Most #DeFi strategies = constant monitoring. Goblin Vaults = deposit once, optimize forever. Assets are auto-deployed across V3 & Perp DEXs for max efficiency. Vault Highlights: 🔹 Classic Rebalance → auto-tracks prices, maximizes fees 🔹 Static Stable → keeps stables pegged, lowers risk 🔹 Delta-Neutral Perp → hedges volatility, steady returns Goblin flips the math: ⚡ 0.08%–0.3% daily (=$8–$30 on $10k) ⚡ Profits auto-compound ⚡ Withdraw anytime, no lock-ups ⚡ Audited + #Aptos-backed for institutional safety Goblin isn’t “just another vault.” It’s a professional-grade automated yield engine for LPs, stakers & serious yield hunters. 👉 Don’t let idle assets collect dust. Put them to work. Sleep on it = lose yield forever. 👉 Explore the vaults: #GoblinContentChallenge Goblin Finance Aptos AlphaTeam Aptos Insights 🌐🖤🤍 Alex | Aptos Aptos中文

If your $10k is making $2–$4/day, you’re not “safe.” You’re just subsidizing someone else’s yield. Goblin Vaults: $8–$30/day. ⚡ Auto-compounding ⚡ No lock-ins ⚡ ExVul-audited Spots fill fast — early vault users take the cream, latecomers get crumbs. Most #DeFi strategies = constant monitoring. Goblin Vaults = deposit once, optimize forever. Assets are auto-deployed across V3 & Perp DEXs for max efficiency. Vault Highlights: 🔹 Classic Rebalance → auto-tracks prices, maximizes fees 🔹 Static Stable → keeps stables pegged, lowers risk 🔹 Delta-Neutral Perp → hedges volatility, steady returns Goblin flips the math: ⚡ 0.08%–0.3% daily (=$8–$30 on $10k) ⚡ Profits auto-compound ⚡ Withdraw anytime, no lock-ups ⚡ Audited + #Aptos-backed for institutional safety Goblin isn’t “just another vault.” It’s a professional-grade automated yield engine for LPs, stakers & serious yield hunters. 👉 Don’t let idle assets collect dust. Put them to work. Sleep on it = lose yield forever. 👉 Explore the vaults: #GoblinContentChallenge Goblin Finance Aptos AlphaTeam Aptos Insights 🌐🖤🤍 Alex | Aptos Aptos中文

kamrul

48,233 views • 10 months ago

Our Kvants Vault Affiliate Program is now live! ⚡️ With your unique referral code, you can invite friends, colleagues, and networks to explore our suite of market-neutral quant strategies. This program is designed to reward those who believe in our vision. 🔍 It's a win-win! Your network gains access to transparent, on-chain quant vaults, and you earn rewards for helping them take part. Start here ⏬ #KVANTS $KVAI #Crypto #IDO #Solana

Our Kvants Vault Affiliate Program is now live! ⚡️ With your unique referral code, you can invite friends, colleagues, and networks to explore our suite of market-neutral quant strategies. This program is designed to reward those who believe in our vision. 🔍 It's a win-win! Your network gains access to transparent, on-chain quant vaults, and you earn rewards for helping them take part. Start here ⏬ #KVANTS $KVAI #Crypto #IDO #Solana

Kvants

29,421 views • 10 months ago

New piece of Grvt’s yield flywheel is now LIVE Introducing Grvt Liquidity Provider (GLP) Strategy, our native protocol vault using delta-neutral, market-making strategy ☼ Managed with a LP and trading firm that’s been in the game for 40+ years ☼ Battle-tested for 6 months with ~48% APR and 7.6 Sharpe ratio ☼ Access to invest in GLP depends on your lifetime trading volume ☼ GLP investors also earn from a weekly 15% Grvt Points pool based on TVL → Info on investment cap: → Get started:

New piece of Grvt’s yield flywheel is now LIVE Introducing Grvt Liquidity Provider (GLP) Strategy, our native protocol vault using delta-neutral, market-making strategy ☼ Managed with a LP and trading firm that’s been in the game for 40+ years ☼ Battle-tested for 6 months with ~48% APR and 7.6 Sharpe ratio ☼ Access to invest in GLP depends on your lifetime trading volume ☼ GLP investors also earn from a weekly 15% Grvt Points pool based on TVL → Info on investment cap: → Get started:

Grvt

274,720 views • 8 months ago

🪙 Scrooge, Tekkaus & Axolink Walk Into a Vault… Scrooge says: “I’m not selling my ITL.” Tekkaus says: “Good. Don’t sell it.” Axolink says: “Just store it in the ITL Collateral Vault instead.” 😎 Ever needed USDT for bills, business, or a time-sensitive opportunity... but didn’t want to part ways with your ITL? That’s exactly where ITL Collateral Vault comes in. 🔐 What is ITL Collateral Vault? A decentralised collateral vault that lets ITL holders: ✅ Lock ITL as collateral ✅ Borrow USDT temporarily ✅ Keep ownership mindset intact ✅ Repay later and reclaim their ITL So instead of: ❌ Selling ITL and lose upside potential You get: ✅ Liquidity now, while staying exposed to ITL Why ITL Collateral Vault is So Useful? Scrooge keeps his treasure. 💰 Tekkaus gets to say, “See? No need to sell.” 👍 Axolink gets to nod like a genius. 📈 😁 But most importantly, ITL Vault gives holders a practical way to access funds without exiting their belief in ITL. How it works? 1. Deposit ITL into the vault 2. Borrow USDT based on your collateral 3. Repay the loan, plus interest and fees 4. Unlock your ITL when you’re done 📉 Lower borrow ratio = more safety ⚠️ Always borrow responsibly Why this matters? ITL Vault adds real utility to the ecosystem: 💡 More use cases for ITL 💸 Liquidity without selling 🛡️ Better capital flexibility 🌍 More on-chain activity and value Final thought Scrooge may be stubborn, but even he’d love a system where he can keep his ITL and still get USDT. 😉 ITL Vault: hold smart, borrow wisely, and keep your ITL working for you. InterLink Labs 👤 + 🌐 KV Reina | InterLink Labs ITL Collateral Vault #Interlink #ITLG #ITL #ITLVault #ITLCollateralVault

🪙 Scrooge, Tekkaus & Axolink Walk Into a Vault… Scrooge says: “I’m not selling my ITL.” Tekkaus says: “Good. Don’t sell it.” Axolink says: “Just store it in the ITL Collateral Vault instead.” 😎 Ever needed USDT for bills, business, or a time-sensitive opportunity... but didn’t want to part ways with your ITL? That’s exactly where ITL Collateral Vault comes in. 🔐 What is ITL Collateral Vault? A decentralised collateral vault that lets ITL holders: ✅ Lock ITL as collateral ✅ Borrow USDT temporarily ✅ Keep ownership mindset intact ✅ Repay later and reclaim their ITL So instead of: ❌ Selling ITL and lose upside potential You get: ✅ Liquidity now, while staying exposed to ITL Why ITL Collateral Vault is So Useful? Scrooge keeps his treasure. 💰 Tekkaus gets to say, “See? No need to sell.” 👍 Axolink gets to nod like a genius. 📈 😁 But most importantly, ITL Vault gives holders a practical way to access funds without exiting their belief in ITL. How it works? 1. Deposit ITL into the vault 2. Borrow USDT based on your collateral 3. Repay the loan, plus interest and fees 4. Unlock your ITL when you’re done 📉 Lower borrow ratio = more safety ⚠️ Always borrow responsibly Why this matters? ITL Vault adds real utility to the ecosystem: 💡 More use cases for ITL 💸 Liquidity without selling 🛡️ Better capital flexibility 🌍 More on-chain activity and value Final thought Scrooge may be stubborn, but even he’d love a system where he can keep his ITL and still get USDT. 😉 ITL Vault: hold smart, borrow wisely, and keep your ITL working for you. InterLink Labs 👤 + 🌐 KV Reina | InterLink Labs ITL Collateral Vault #Interlink #ITLG #ITL #ITLVault #ITLCollateralVault

Tekkaus® | InterLink • MOD • T2 Community Builder

11,811 views • 16 days ago

There’s no such thing as a free +10% DeFi yield Risk curators have been at the center of the storm. Steakhouse Financial’s SebVentures breaks down what most DeFi users misunderstand about yield, vault safety, and the coming stablecoin wave on Bits + Bips Plus: the liquidity problem with tokenized onchain credit funds & the role of new stablechains like Tempo and Plasma 👇 Timestamps: 🥩 0:27 Understanding Steakhouse Financial and its growth rate 🧠 2:27 What “risk curation” actually means and why Steakhouse focuses on institutions 💵 5:20 How Steakhouse Financial vaults generate stablecoin yields ⚙️ 8:07 What risk curators can—and can’t—control in a decentralized environment ⚠️ 12:56 What recent volatility revealed about #DeFi vaults and the collapse of Stream Finance 📉 17:01 Whether “safe” high yield is even possible 🧱 19:06 The liquidity problem with tokenized credit funds onchain 🌊 27:16 How Steakhouse is positioning for the stablecoin boom ⛓️ 28:52 How stablechains like #Tempo and #Plasma could change the game 🏦 30:15 Why Steakhouse plans to integrate tokenized deposits 🌍 32:23 Steakhouse’s 2026 bet on non-USD #stablecoins

There’s no such thing as a free +10% DeFi yield Risk curators have been at the center of the storm. Steakhouse Financial’s SebVentures breaks down what most DeFi users misunderstand about yield, vault safety, and the coming stablecoin wave on Bits + Bips Plus: the liquidity problem with tokenized onchain credit funds & the role of new stablechains like Tempo and Plasma 👇 Timestamps: 🥩 0:27 Understanding Steakhouse Financial and its growth rate 🧠 2:27 What “risk curation” actually means and why Steakhouse focuses on institutions 💵 5:20 How Steakhouse Financial vaults generate stablecoin yields ⚙️ 8:07 What risk curators can—and can’t—control in a decentralized environment ⚠️ 12:56 What recent volatility revealed about #DeFi vaults and the collapse of Stream Finance 📉 17:01 Whether “safe” high yield is even possible 🧱 19:06 The liquidity problem with tokenized credit funds onchain 🌊 27:16 How Steakhouse is positioning for the stablecoin boom ⛓️ 28:52 How stablechains like #Tempo and #Plasma could change the game 🏦 30:15 Why Steakhouse plans to integrate tokenized deposits 🌍 32:23 Steakhouse’s 2026 bet on non-USD #stablecoins

Laura Shin

21,964 views • 7 months ago

You experienced Term Auctions, you’ve signed the Blue Sheets, now it’s time to enter the Vault. Term Strategy Vaults are built on yearn V3, and are automated to make fixed-rate lending effortless. - Pick your strategy - Deposit your funds - Secure predictable yields Everything is audited, automated, and available for any user. Welcome to seamless DeFi, with Term. Let’s dive deeper 🧵 1/ What are Term Strategy Vaults? They’re automated DeFi tools that make fixed-rate lending effortless. Built on yearn V3, these vaults simplify liquidity management, reinvest earnings, and optimize risk-adjusted yields for passive investors. 2/ How does it work? Funds are re-balanced across lending positions while maintaining prudent portfolio risk controls: ▫️ Participate in Term Auctions & Blue Sheets. ▫️ Focus on fixed-rate lending = capital efficient and consistent yields. 3/ Why choose Term Strategy Vaults? 🔹 Automated lending + strict portfolio controls 🔹 Stable, reliable yields 🔹 Professional risk curation 🔹 Non-custodial + verifiable on-chain 4/ No expertise required! You deposit $USDC, $wETH, or other supported assets, and the vaults handle the rest. It's DeFi lending made simple. 5/ How secure is it? ☑️ Term Vaults are non-custodial. ☑️ Funds are locked in immutable smart contracts. ☑️ Protected by strict smart contract-enforced constraints. ☑️ Third-party audits reinforce safety. Your funds, your control. 6/ Who can benefit? Passive lenders who want set-it-and-forget-it lending. Yield hunters tired of inefficiencies in floating-rate protocols. Risk-conscious DeFi users who want professionally curated and tailored strategies, not a one-size-fits-all approach. 7/ Getting started is easy: > Pick a strategy based on your risk preference. >> Deposit your assets. >>> Relax while the vault optimizes yield. Why work harder when you can let your money work smarter? Start your Vaults journey →

You experienced Term Auctions, you’ve signed the Blue Sheets, now it’s time to enter the Vault. Term Strategy Vaults are built on yearn V3, and are automated to make fixed-rate lending effortless. - Pick your strategy - Deposit your funds - Secure predictable yields Everything is audited, automated, and available for any user. Welcome to seamless DeFi, with Term. Let’s dive deeper 🧵 1/ What are Term Strategy Vaults? They’re automated DeFi tools that make fixed-rate lending effortless. Built on yearn V3, these vaults simplify liquidity management, reinvest earnings, and optimize risk-adjusted yields for passive investors. 2/ How does it work? Funds are re-balanced across lending positions while maintaining prudent portfolio risk controls: ▫️ Participate in Term Auctions & Blue Sheets. ▫️ Focus on fixed-rate lending = capital efficient and consistent yields. 3/ Why choose Term Strategy Vaults? 🔹 Automated lending + strict portfolio controls 🔹 Stable, reliable yields 🔹 Professional risk curation 🔹 Non-custodial + verifiable on-chain 4/ No expertise required! You deposit $USDC, $wETH, or other supported assets, and the vaults handle the rest. It's DeFi lending made simple. 5/ How secure is it? ☑️ Term Vaults are non-custodial. ☑️ Funds are locked in immutable smart contracts. ☑️ Protected by strict smart contract-enforced constraints. ☑️ Third-party audits reinforce safety. Your funds, your control. 6/ Who can benefit? Passive lenders who want set-it-and-forget-it lending. Yield hunters tired of inefficiencies in floating-rate protocols. Risk-conscious DeFi users who want professionally curated and tailored strategies, not a one-size-fits-all approach. 7/ Getting started is easy: > Pick a strategy based on your risk preference. >> Deposit your assets. >>> Relax while the vault optimizes yield. Why work harder when you can let your money work smarter? Start your Vaults journey →

Term Labs

632,808 views • 1 year ago

Bitcoin Capitalism — my keynote from BTC Prague 2026. Digital Capital is the foundation for Digital Credit, Digital Money, Digital Yield, Digital Equity, and a universe of Bitcoin-backed products and services. Timestamps: 01:37 - The Four Bitcoin Ideologies and the case for Bitcoin Capitalism 03:29 - Bitcoin as Digital Capital: thousand-year capital with a half-life of infinity 06:12 - Bitcoin network snapshot and ~68% dominance 07:41 - What is money? The Austrian view, the conventional investor view, and “Bitcoin is money, everything else is credit” 09:21 - Digital Money and Digital Credit: bitcoin-backed products for fiat-facing investors 11:28 - Digital Credit: an ~$11–12B asset class that was zero 12 months ago 14:54 - Bitcoin’s opportunity: $1T of bitcoin vs. $1,000T of global capital 15:43 - The 10-dimensional model for reaching stranded capital 16:44 - 1) Asset types: commodities, equities, credit, derivatives, real estate, money, and tokens 18:07 - 2) Capital functions: store of value, appreciation, income, collateral, and payments 19:29 - 3) Custody: self-custody, banks, custodians, broker-dealers, prime brokers, and exchanges 20:34 - 4) Jurisdictions: 664,000 legal and regulatory environments for capital 22:03 - 5) Distribution networks: banks, exchanges, payment networks, and $156T controlled by wealth advisors 23:13 - 6) Account forms: retirement accounts, brokerage accounts, insurance policies, treasuries, and trusts 24:51 - 7) Risk: market, currency, duration, regulatory, credit, technical, security, theft, and counterparty risk 26:03 - 8) Liquidity: transforming $350T of illiquid capital with liquid digital assets 28:02 - 9) Investors: banks control ~$200T and need compliant bitcoin-backed products 30:09 - 10) Product characteristics: fixed rate, floating rate, leverage, callability, fees, and structure 30:45 - The 10x10 matrix for channeling global capital into Bitcoin 31:19 - How $10–20T of capital could expand Bitcoin into a $100T network, moving from $70K to $700K to $7M per bitcoin 32:10 - Bitcoin Capitalism as a Darwinian market: winners, challengers, failures, and 1,400 companies tracked by Strategy 34:53 - Existing bitcoin-backed products: Trezor, Unchained, Fidelity Investments, FOLD BITCOIN, Tando, Relai 🇨🇭, Cash App, Hodl Hodl, AnchorWatch, meanwhile | Bitcoin Life Insurance, $IBIT, $STRC, and $MSTR 40:03 - Digital Capital, Digital Credit, Digital Money, and Digital Yield competing with traditional capital markets 41:03 - Digital Money and Digital Yield: better stablecoins and higher-yield bitcoin-backed products 47:27 - 3 ways to participate: savers, investors, and innovators 49:19 - The aluminum airplane analogy: people buy the product, not the commodity underneath 52:29 - Build a ₿ridge to connect $BTC to the global capital markets 53:42 - 10,000 products, 10,000 needs, and 100,000 corporate efforts to change the world

Bitcoin Capitalism — my keynote from BTC Prague 2026. Digital Capital is the foundation for Digital Credit, Digital Money, Digital Yield, Digital Equity, and a universe of Bitcoin-backed products and services. Timestamps: 01:37 - The Four Bitcoin Ideologies and the case for Bitcoin Capitalism 03:29 - Bitcoin as Digital Capital: thousand-year capital with a half-life of infinity 06:12 - Bitcoin network snapshot and ~68% dominance 07:41 - What is money? The Austrian view, the conventional investor view, and “Bitcoin is money, everything else is credit” 09:21 - Digital Money and Digital Credit: bitcoin-backed products for fiat-facing investors 11:28 - Digital Credit: an ~$11–12B asset class that was zero 12 months ago 14:54 - Bitcoin’s opportunity: $1T of bitcoin vs. $1,000T of global capital 15:43 - The 10-dimensional model for reaching stranded capital 16:44 - 1) Asset types: commodities, equities, credit, derivatives, real estate, money, and tokens 18:07 - 2) Capital functions: store of value, appreciation, income, collateral, and payments 19:29 - 3) Custody: self-custody, banks, custodians, broker-dealers, prime brokers, and exchanges 20:34 - 4) Jurisdictions: 664,000 legal and regulatory environments for capital 22:03 - 5) Distribution networks: banks, exchanges, payment networks, and $156T controlled by wealth advisors 23:13 - 6) Account forms: retirement accounts, brokerage accounts, insurance policies, treasuries, and trusts 24:51 - 7) Risk: market, currency, duration, regulatory, credit, technical, security, theft, and counterparty risk 26:03 - 8) Liquidity: transforming $350T of illiquid capital with liquid digital assets 28:02 - 9) Investors: banks control ~$200T and need compliant bitcoin-backed products 30:09 - 10) Product characteristics: fixed rate, floating rate, leverage, callability, fees, and structure 30:45 - The 10x10 matrix for channeling global capital into Bitcoin 31:19 - How $10–20T of capital could expand Bitcoin into a $100T network, moving from $70K to $700K to $7M per bitcoin 32:10 - Bitcoin Capitalism as a Darwinian market: winners, challengers, failures, and 1,400 companies tracked by Strategy 34:53 - Existing bitcoin-backed products: Trezor, Unchained, Fidelity Investments, FOLD BITCOIN, Tando, Relai 🇨🇭, Cash App, Hodl Hodl, AnchorWatch, meanwhile | Bitcoin Life Insurance, $IBIT, $STRC, and $MSTR 40:03 - Digital Capital, Digital Credit, Digital Money, and Digital Yield competing with traditional capital markets 41:03 - Digital Money and Digital Yield: better stablecoins and higher-yield bitcoin-backed products 47:27 - 3 ways to participate: savers, investors, and innovators 49:19 - The aluminum airplane analogy: people buy the product, not the commodity underneath 52:29 - Build a ₿ridge to connect $BTC to the global capital markets 53:42 - 10,000 products, 10,000 needs, and 100,000 corporate efforts to change the world

Michael Saylor

263,339 views • 1 month ago

Some weeks ago when the $CFI claim went live, I had a decision to make. I could’ve claimed and moved on. Instead, I staked my entire allocation. Right now, that locked allocation is already earning around 9% APR quietly in the background. So far, it’s added 621.96 CFI without me touching anything, And in about 158 days, my boost allocation will also be unlocks on top of that. That alone already tells me I made the right call. But here’s the bigger reason I’m still holding everything. ConsumerFi Protocol isn’t just a token to me. It’s the execution layer behind real apps that people are already using especially the Kinsu. The Kinsu Genesis Vault is a perfect example of what ConsumerFi is trying to do right. You deposit USDC. You lock xCFI. And you unlock boosted yield on your savings. No leverage. No weird loops. No manual rebalancing. ConsumerFi even allocated 2.5 million $CFI specifically to power boosted yields in this vault. What I like most is how the yield stacks: - Base USDC yield from blue-chip lending markets - Staking yield from xCFI - Boost emissions when you lock xCFI And on top of that, your xCFI balance feeds directly into Season 2 points, with boosts that scale the more aligned you are. This is exactly why I’m holding my full allocation. ConsumerFi rewards patience, alignment, and actual usage, not quick exits. If you believe consumer crypto should just work in the background while value compounds, this setup makes a lot of sense. I’m staying locked. I’m staying boosted. And I’m letting execution do its thing. If you’re already in, take a real look at how you’re positioned. If you’re not, this is the kind of system that rewards showing up early and staying aligned. ConsumerFi is still early, and i'm here. That’s the difference.

Some weeks ago when the $CFI claim went live, I had a decision to make. I could’ve claimed and moved on. Instead, I staked my entire allocation. Right now, that locked allocation is already earning around 9% APR quietly in the background. So far, it’s added 621.96 CFI without me touching anything, And in about 158 days, my boost allocation will also be unlocks on top of that. That alone already tells me I made the right call. But here’s the bigger reason I’m still holding everything. ConsumerFi Protocol isn’t just a token to me. It’s the execution layer behind real apps that people are already using especially the Kinsu. The Kinsu Genesis Vault is a perfect example of what ConsumerFi is trying to do right. You deposit USDC. You lock xCFI. And you unlock boosted yield on your savings. No leverage. No weird loops. No manual rebalancing. ConsumerFi even allocated 2.5 million $CFI specifically to power boosted yields in this vault. What I like most is how the yield stacks: - Base USDC yield from blue-chip lending markets - Staking yield from xCFI - Boost emissions when you lock xCFI And on top of that, your xCFI balance feeds directly into Season 2 points, with boosts that scale the more aligned you are. This is exactly why I’m holding my full allocation. ConsumerFi rewards patience, alignment, and actual usage, not quick exits. If you believe consumer crypto should just work in the background while value compounds, this setup makes a lot of sense. I’m staying locked. I’m staying boosted. And I’m letting execution do its thing. If you’re already in, take a real look at how you’re positioned. If you’re not, this is the kind of system that rewards showing up early and staying aligned. ConsumerFi is still early, and i'm here. That’s the difference.

🌱Smartcoded.fogo ($/acc) ⋈

11,184 views • 7 months ago

EXCLUSIVE: Robinhood is going to pay 7% on dollars to 27.7 million customers. In this Interview Johann Kerbrat, their SVP of Crypto explains how it all works. Robinhood Earn lives inside the main investing app. You can buy the USDG stablecoin in a few taps, and it gets deployed into vaults built with Morpho and Steakhouse, and the target yield is roughly 7%. Where does 7% come from? Market makers and liquidity providers pay it. These are traders who need USDG liquidity to run spot and perps trading. Your deposit is funding someone else's 50x leverage, and you're the one getting paid for it. Assuming you get paid back. Which, as we've seen, doesn't always work in DeFi with hacks and smart contract risk. But Robinhood has done something extra to make this retail-grade. Robinhood's answer is an insurance program with Lloyd's of London and Relm covering smart contract and vault failure. He says it's one of the largest ever built for a crypto product. Earn was one of 12 announcements; some others that caught my eye: Stock tokens in 120+ countries, backed 1:1 by real equities. You can withdraw them to a self-custody wallet and post them as collateral. Borrowing against a stock portfolio used to be a private banking perk; now it's a smart contract. Robinhood Chain went to public mainnet after 200 million transactions on testnet. Perps on stocks, crypto, and commodities at 20 to 50x leverage, bringing an entire new asset class to the mainstream. Robinhood is all in on DeFi. DeFi protocols spent a decade fighting for users. Robinhood just made a Morpho vault look like a savings account, in front of 27.7m funded customers. See the 15-minute highlights below and the full episode on the Tokenized Podcast youtube channel Full interview with Johann on bryton k. YouTube

EXCLUSIVE: Robinhood is going to pay 7% on dollars to 27.7 million customers. In this Interview Johann Kerbrat, their SVP of Crypto explains how it all works. Robinhood Earn lives inside the main investing app. You can buy the USDG stablecoin in a few taps, and it gets deployed into vaults built with Morpho and Steakhouse, and the target yield is roughly 7%. Where does 7% come from? Market makers and liquidity providers pay it. These are traders who need USDG liquidity to run spot and perps trading. Your deposit is funding someone else's 50x leverage, and you're the one getting paid for it. Assuming you get paid back. Which, as we've seen, doesn't always work in DeFi with hacks and smart contract risk. But Robinhood has done something extra to make this retail-grade. Robinhood's answer is an insurance program with Lloyd's of London and Relm covering smart contract and vault failure. He says it's one of the largest ever built for a crypto product. Earn was one of 12 announcements; some others that caught my eye: Stock tokens in 120+ countries, backed 1:1 by real equities. You can withdraw them to a self-custody wallet and post them as collateral. Borrowing against a stock portfolio used to be a private banking perk; now it's a smart contract. Robinhood Chain went to public mainnet after 200 million transactions on testnet. Perps on stocks, crypto, and commodities at 20 to 50x leverage, bringing an entire new asset class to the mainstream. Robinhood is all in on DeFi. DeFi protocols spent a decade fighting for users. Robinhood just made a Morpho vault look like a savings account, in front of 27.7m funded customers. See the 15-minute highlights below and the full episode on the Tokenized Podcast youtube channel Full interview with Johann on bryton k. YouTube

Simon Taylor

347,112 views • 29 days ago

DON'T LET YOUR BITCOIN DIE WITH YOU 💀 ⚰️ Yea look, nobody likes to admit it but we all have to die one day. As I've been talking to people about their self custody lately - both Casa members and not - I hear the same thing over and over. "What happens if I die?" Many people feel pretty good about their bitcoin security for themselves. But their family members often have no idea how to use this stuff. Hardware wallet? Seed phrase stamped on metal? Shamir's secret sharing backups using SD cards, a passphrase, and a treasure hunt through the backyard with a shovel? 😵 We're solving that problem for all Casa members, starting today with Casa Inheritance. A key design principle we kept while building this was to make it as simple as possible for Recipients (your family members that will receive your bitcoin if you pass), while maintaining Casa-level security. An estate transfer is already a stressful time for family, and it can become even more stressful if you add in a crazy treasure hunt to access a fortune in bitcoin. For our basic 3 key vaults, we wanted it to be as easy as using the app. No metal plates, no need to use a hardware wallet, no magic passwords you have to keep track of or else risk messing up the asset transfer. Simplicity is security. So how does it work, in detail? A Vault Owner (Casa member) designates a Recipient (their family or friend) in the Casa app. The Recipient receives an invite to create a free Casa account. The Recipient scans a QR code provided by the Vault Owner, which contains an encrypted version of the owner's mobile key. This encrypted key is only able to be imported by the Recipient's Casa account, and the Recipient can't initially use it or see the vault balance. If the Vault Owner passes away, the Recipient can request access to the vault in their Casa app. This starts a 6 month timer, and sends a ton of notifications every month to the owner. If the owner is still alive, they can reject the request in app. If they are not, the timer will run out. When it does, the Recipient will be able to use the shared mobile key and the request a signature from the Casa Recovery Key for the shared vault. This gives them 2 out of 3 signatures, enough to access the assets. For 5 key vault users, one hardware key is shared with the Recipient. This small increase in friction for Recipients is often worth it for the increased security and resilience of a 5 key vault for larger holdings. To summarize now that you have the details: 1. Share keys and vault access during setup 2. 6 month timelock to ensure no malicious theft 3. Use shared keys and Casa key to access assets Full setup takes less than 5 minutes. Inheritance is one of the biggest problems in self custody today. If you've hodled through years of painful bear markets, you owe it to yourself and your family to not let the reward for that patience go to zero because you didn't have a plan - and we're here to make that easy. Check out the video to see how easy it really is. Like I said earlier this week - Casa is going after major problems in self-custody this year. Check this one off the list ✅. Next one coming sooner than you think 🔥.

DON'T LET YOUR BITCOIN DIE WITH YOU 💀 ⚰️ Yea look, nobody likes to admit it but we all have to die one day. As I've been talking to people about their self custody lately - both Casa members and not - I hear the same thing over and over. "What happens if I die?" Many people feel pretty good about their bitcoin security for themselves. But their family members often have no idea how to use this stuff. Hardware wallet? Seed phrase stamped on metal? Shamir's secret sharing backups using SD cards, a passphrase, and a treasure hunt through the backyard with a shovel? 😵 We're solving that problem for all Casa members, starting today with Casa Inheritance. A key design principle we kept while building this was to make it as simple as possible for Recipients (your family members that will receive your bitcoin if you pass), while maintaining Casa-level security. An estate transfer is already a stressful time for family, and it can become even more stressful if you add in a crazy treasure hunt to access a fortune in bitcoin. For our basic 3 key vaults, we wanted it to be as easy as using the app. No metal plates, no need to use a hardware wallet, no magic passwords you have to keep track of or else risk messing up the asset transfer. Simplicity is security. So how does it work, in detail? A Vault Owner (Casa member) designates a Recipient (their family or friend) in the Casa app. The Recipient receives an invite to create a free Casa account. The Recipient scans a QR code provided by the Vault Owner, which contains an encrypted version of the owner's mobile key. This encrypted key is only able to be imported by the Recipient's Casa account, and the Recipient can't initially use it or see the vault balance. If the Vault Owner passes away, the Recipient can request access to the vault in their Casa app. This starts a 6 month timer, and sends a ton of notifications every month to the owner. If the owner is still alive, they can reject the request in app. If they are not, the timer will run out. When it does, the Recipient will be able to use the shared mobile key and the request a signature from the Casa Recovery Key for the shared vault. This gives them 2 out of 3 signatures, enough to access the assets. For 5 key vault users, one hardware key is shared with the Recipient. This small increase in friction for Recipients is often worth it for the increased security and resilience of a 5 key vault for larger holdings. To summarize now that you have the details: 1. Share keys and vault access during setup 2. 6 month timelock to ensure no malicious theft 3. Use shared keys and Casa key to access assets Full setup takes less than 5 minutes. Inheritance is one of the biggest problems in self custody today. If you've hodled through years of painful bear markets, you owe it to yourself and your family to not let the reward for that patience go to zero because you didn't have a plan - and we're here to make that easy. Check out the video to see how easy it really is. Like I said earlier this week - Casa is going after major problems in self-custody this year. Check this one off the list ✅. Next one coming sooner than you think 🔥.

Nick Neuman

125,739 views • 2 years ago

🇨🇭 A Swiss Bitcoin Treasury built with Adam Back is about to attack 600 BILLION in zero-yield Swiss fixed income. "Bitcoin treasuries are the release valve of the fiat Ponzi" -Richard Byworth ∞/21M 📺Full interview: The Chairman of Future & ex-Nomura trader reveals why Switzerland is the PERFECT market for Bitcoin credit: THE SETUP: Swiss 10-year government bonds: 12 basis points Swiss National Bank: Zero rates (going negative again) 600B seeking yield in Swiss francs Future can offer 3-5% Bitcoin-backed credit. "Imagine locking up money for 10 years to get 12 basis points. It's insanity." BREAKTHROUGH FRAMEWORK: "A Bitcoin treasury is a hedge fund sitting on top of an ETF" This is THE analogy that makes traditional finance understand. Richard spent 3 hours at dinner with Adam Back that led to founding & designing products for Future. Now they're launching with a team / board including: Adam Back, co-founder Julian Liniger, CEO of Relai 🇨🇭 Sebastien Hess , serial entrepreneur Vijay Selvam , Attorney, Author, ex-Goldman Teana Baker-Taylor , founder, @SYZCAP , Hedge Fund Partner at Syz Capital Ex-Citadel credit traders CONTROVERSIAL TAKE: "If you can buy Bitcoin at a 20% discount, you should SELL Bitcoin to buy back your shares" H100 trading at 20% below NAV? That's buying Bitcoin at a discount. Religious zealotry around "never sell" is killing shareholder value. He breaks down: ✅ Why Saylor's €620M Stream IPO was genius (waking up institutional Europe) ✅ Metaplanet's put underwriting strategy (generate free Bitcoin premium) ✅ Why family offices understand Bitcoin better than hedge funds ✅ The coming JP Morgan rebellion against treasury companies Best line: "You would never lend money at zero in a real market. The market is being manipulated." Switzerland has negative rates coming. Future is positioned to capture the wave. Follow: Richard Byworth ∞/21M Future: Future STAY ORANGE 🟠

🇨🇭 A Swiss Bitcoin Treasury built with Adam Back is about to attack 600 BILLION in zero-yield Swiss fixed income. "Bitcoin treasuries are the release valve of the fiat Ponzi" -Richard Byworth ∞/21M 📺Full interview: The Chairman of Future & ex-Nomura trader reveals why Switzerland is the PERFECT market for Bitcoin credit: THE SETUP: Swiss 10-year government bonds: 12 basis points Swiss National Bank: Zero rates (going negative again) 600B seeking yield in Swiss francs Future can offer 3-5% Bitcoin-backed credit. "Imagine locking up money for 10 years to get 12 basis points. It's insanity." BREAKTHROUGH FRAMEWORK: "A Bitcoin treasury is a hedge fund sitting on top of an ETF" This is THE analogy that makes traditional finance understand. Richard spent 3 hours at dinner with Adam Back that led to founding & designing products for Future. Now they're launching with a team / board including: Adam Back, co-founder Julian Liniger, CEO of Relai 🇨🇭 Sebastien Hess , serial entrepreneur Vijay Selvam , Attorney, Author, ex-Goldman Teana Baker-Taylor , founder, @SYZCAP , Hedge Fund Partner at Syz Capital Ex-Citadel credit traders CONTROVERSIAL TAKE: "If you can buy Bitcoin at a 20% discount, you should SELL Bitcoin to buy back your shares" H100 trading at 20% below NAV? That's buying Bitcoin at a discount. Religious zealotry around "never sell" is killing shareholder value. He breaks down: ✅ Why Saylor's €620M Stream IPO was genius (waking up institutional Europe) ✅ Metaplanet's put underwriting strategy (generate free Bitcoin premium) ✅ Why family offices understand Bitcoin better than hedge funds ✅ The coming JP Morgan rebellion against treasury companies Best line: "You would never lend money at zero in a real market. The market is being manipulated." Switzerland has negative rates coming. Future is positioned to capture the wave. Follow: Richard Byworth ∞/21M Future: Future STAY ORANGE 🟠

Tyler Rowe

24,043 views • 8 months ago

For months, everyone called this a liquidity problem. It is not a liquidity problem anymore. It is not just investors pulling money out. It is investors who no longer want in. That is the bigger problem. The whole boom was built on flows. Wealth managers, pensions, insurance, the public. The machine had to keep moving. Now it is reversing. New direct lending issuance fell from 74.6 billion to 44.8 billion in one quarter, per Reuters and PitchBook. A drop of roughly 40%. And the redemptions keep coming. BlackRock's HLend capped requests after investors tried to pull 13%. Up from 9% the quarter before. The run is accelerating. It is not one fund. Blackstone hit its limits. Cliff Water's requests grew. Partners Group capped a private equity fund near 10% of NAV. The pressure is not staying in one lane. Now the public tell. Publicly traded BDCs are not bouncing, even as the market soars. They are the liquid version of the same trade. The bargain hunters are not showing up. That is a buyer strike. And the real fear is the dividends. If you expected 9% and get 4%, why take the risk on the rest? You do not hold the fund hoping Blue Owl turns out right. The stress is spreading. Software loans are down 4.7% this year while the index is up 1.2%. And software sits across both leveraged loans and private credit. Defaults just matched a 2023 high in a 300 billion dollar private credit index. And defaults lag. The amendments, the extensions, the PIK come first. Here is the mechanism. New money slows, old money wants out, so managers protect liquidity. They lend less. Deals slow. Exits disappear. Distributions shrink. Fundraising weakens. The loop closes on itself. It does not need a Lehman blowup to feed on itself. It is not one explosion. It is a system that can no longer clear. The argument from inside is that investors do not know what they are talking about. That this is all nothing. But this many people wanting out, and this many refusing to come in, is not nothing. Private credit can survive bad headlines. Problem loans. Even redemptions. What it cannot survive is a buyer strike, because the whole boom assumed capital would keep arriving. So this is not 2021 anymore. The credit cycle has changed. And the people who asked for their money back were never confused. They were just early.

For months, everyone called this a liquidity problem. It is not a liquidity problem anymore. It is not just investors pulling money out. It is investors who no longer want in. That is the bigger problem. The whole boom was built on flows. Wealth managers, pensions, insurance, the public. The machine had to keep moving. Now it is reversing. New direct lending issuance fell from 74.6 billion to 44.8 billion in one quarter, per Reuters and PitchBook. A drop of roughly 40%. And the redemptions keep coming. BlackRock's HLend capped requests after investors tried to pull 13%. Up from 9% the quarter before. The run is accelerating. It is not one fund. Blackstone hit its limits. Cliff Water's requests grew. Partners Group capped a private equity fund near 10% of NAV. The pressure is not staying in one lane. Now the public tell. Publicly traded BDCs are not bouncing, even as the market soars. They are the liquid version of the same trade. The bargain hunters are not showing up. That is a buyer strike. And the real fear is the dividends. If you expected 9% and get 4%, why take the risk on the rest? You do not hold the fund hoping Blue Owl turns out right. The stress is spreading. Software loans are down 4.7% this year while the index is up 1.2%. And software sits across both leveraged loans and private credit. Defaults just matched a 2023 high in a 300 billion dollar private credit index. And defaults lag. The amendments, the extensions, the PIK come first. Here is the mechanism. New money slows, old money wants out, so managers protect liquidity. They lend less. Deals slow. Exits disappear. Distributions shrink. Fundraising weakens. The loop closes on itself. It does not need a Lehman blowup to feed on itself. It is not one explosion. It is a system that can no longer clear. The argument from inside is that investors do not know what they are talking about. That this is all nothing. But this many people wanting out, and this many refusing to come in, is not nothing. Private credit can survive bad headlines. Problem loans. Even redemptions. What it cannot survive is a buyer strike, because the whole boom assumed capital would keep arriving. So this is not 2021 anymore. The credit cycle has changed. And the people who asked for their money back were never confused. They were just early.

Jeffrey P. Snider

32,147 views • 1 month ago

A 4-Sharpe crypto fund. 27 of 28 months positive. Leigh Drogen (Leigh Drogen) is CIO of Starkiller Capital, a crypto quant fund running momentum and market-neutral crypto strategies. His edge is diligence — and a "never lose more than 1%" position rule. We cover: - Why block space is worthless — and the fiber-optics-in-1999 analogy that explains every L1 collapse since blobs launched on Ethereum - Starkiller's "never lose more than 1%" position sizing rule (how it compounds into 27 of 28 positive months) - The Ripple / RLUSD / USCC trade — borrowing at 2.5% against a 5-8% yielding tokenized basis fund, hidden in plain sight on Aave Horizon - How Starkiller dodged the Kelp DAO hack, lending USDC at 17-18% APR while the rest of DeFi was on fire - Why momentum is the only actual persistent alpha (it's the only persistent behavioral characteristic of humans) - "F*ckery risk" on the short book — why Drogen runs a more diversified short book than long book, even when his thesis screams short - Why "sales is way overcompensated" relative to the difficulty of the job — and what that means for ambitious young quants - The 2019 DM from a 21-year-old that became Drogen's biggest career miss — and how Polymarket's Shane Coplin (Shayne Coplan 🦅) actually solved the SEC problem ("USDC and VPNs") Highlights: 00:00 Intro 01:09 Mechanics of a 4 Sharpe market neutral DeFi strategy 03:24 Quantifying protocol risk and code provenance 06:40 Case study: Exploiting incentivized spreads in carry trades 10:53 Three primary sources of alpha in liquid crypto markets 14:28 Capacity constraints and institutional yield compression 18:54 Position sizing via the 1% max loss rule 21:38 Pro-cyclical returns and the risk modulation framework 26:44 Compounding capital through trend following and cross-sectional momentum 33:35 Why momentum is the only persistent behavioral alpha 48:39 Extracting alpha from token unlock schedules and market structure 51:20 Lessons from building Estimize and the SEC/ForceRank fight 55:00 The Polymarket origin story: Arbitraging regulatory hurdles 01:01:45 Career risk premia and the value of "eating sh*t" 01:05:34 Table selection: Positioning your career on the right macro curve

A 4-Sharpe crypto fund. 27 of 28 months positive. Leigh Drogen (Leigh Drogen) is CIO of Starkiller Capital, a crypto quant fund running momentum and market-neutral crypto strategies. His edge is diligence — and a "never lose more than 1%" position rule. We cover: - Why block space is worthless — and the fiber-optics-in-1999 analogy that explains every L1 collapse since blobs launched on Ethereum - Starkiller's "never lose more than 1%" position sizing rule (how it compounds into 27 of 28 positive months) - The Ripple / RLUSD / USCC trade — borrowing at 2.5% against a 5-8% yielding tokenized basis fund, hidden in plain sight on Aave Horizon - How Starkiller dodged the Kelp DAO hack, lending USDC at 17-18% APR while the rest of DeFi was on fire - Why momentum is the only actual persistent alpha (it's the only persistent behavioral characteristic of humans) - "Fckery risk" on the short book — why Drogen runs a more diversified short book than long book, even when his thesis screams short - Why "sales is way overcompensated" relative to the difficulty of the job — and what that means for ambitious young quants - The 2019 DM from a 21-year-old that became Drogen's biggest career miss — and how Polymarket's Shane Coplin (Shayne Coplan 🦅) actually solved the SEC problem ("USDC and VPNs") Highlights: 00:00 Intro 01:09 Mechanics of a 4 Sharpe market neutral DeFi strategy 03:24 Quantifying protocol risk and code provenance 06:40 Case study: Exploiting incentivized spreads in carry trades 10:53 Three primary sources of alpha in liquid crypto markets 14:28 Capacity constraints and institutional yield compression 18:54 Position sizing via the 1% max loss rule 21:38 Pro-cyclical returns and the risk modulation framework 26:44 Compounding capital through trend following and cross-sectional momentum 33:35 Why momentum is the only persistent behavioral alpha 48:39 Extracting alpha from token unlock schedules and market structure 51:20 Lessons from building Estimize and the SEC/ForceRank fight 55:00 The Polymarket origin story: Arbitraging regulatory hurdles 01:01:45 Career risk premia and the value of "eating sht" 01:05:34 Table selection: Positioning your career on the right macro curve

Ethan Kho

259,839 views • 2 months ago

From Morgan Stanley to Ripple to Hedera: Building the Shopify of Institutional Asset Tokenization The world is moving toward a system where everyone, not just millionaires, can access high-quality real world assets. In our conversation with Anil, the founder of cSigma Finance, he explained how global investors and real businesses are being left out of traditional financial systems, and why DLT such as Hedera finally makes this possible. Anil spent nearly two decades in financial services, from Morgan Stanley to building institutional grade credit products Ripple, before launching cSigma in 2023. Today his team is building the full infrastructure layer for asset originators to bring institutional grade financial assets onchain. Here are the key insights straight from the interview: • Investors outside financial centers struggle to access high quality assets. • Even in developed countries, most people are shut out of institutional opportunities. • Mid-market businesses often pay extremely high APR because traditional lenders cannot efficiently serve smaller ticket credit. • cSigma connects these businesses directly with global stablecoin liquidity using a compliant, blockchain native process. • More than 80 million dollars in fully collateralized, legally enforceable real world assets have already been originated. • Higher yields are possible without speculative token incentives. • Asset originators are reducing their cost of capital by 20 to 30 percent. • cSigma built a complete stack: AI credit analysis, legal and compliance rails, risk monitoring, tokenization standards, and real settlement workflows. • Permissioned institutional capital and permissionless global liquidity now interact through one architecture designed for regulation and scale. Anil’s thoughts on 2026 were clear: Anyone with even 1000 dollars should be able to build a diversified portfolio of institutional grade assets. Tokenization makes this possible. Hedera makes this possible. This is what democratizing finance actually looks like. Podcast supported by HashPack Wallet Hedera Hashgraph Hedera Foundation

From Morgan Stanley to Ripple to Hedera: Building the Shopify of Institutional Asset Tokenization The world is moving toward a system where everyone, not just millionaires, can access high-quality real world assets. In our conversation with Anil, the founder of cSigma Finance, he explained how global investors and real businesses are being left out of traditional financial systems, and why DLT such as Hedera finally makes this possible. Anil spent nearly two decades in financial services, from Morgan Stanley to building institutional grade credit products Ripple, before launching cSigma in 2023. Today his team is building the full infrastructure layer for asset originators to bring institutional grade financial assets onchain. Here are the key insights straight from the interview: • Investors outside financial centers struggle to access high quality assets. • Even in developed countries, most people are shut out of institutional opportunities. • Mid-market businesses often pay extremely high APR because traditional lenders cannot efficiently serve smaller ticket credit. • cSigma connects these businesses directly with global stablecoin liquidity using a compliant, blockchain native process. • More than 80 million dollars in fully collateralized, legally enforceable real world assets have already been originated. • Higher yields are possible without speculative token incentives. • Asset originators are reducing their cost of capital by 20 to 30 percent. • cSigma built a complete stack: AI credit analysis, legal and compliance rails, risk monitoring, tokenization standards, and real settlement workflows. • Permissioned institutional capital and permissionless global liquidity now interact through one architecture designed for regulation and scale. Anil’s thoughts on 2026 were clear: Anyone with even 1000 dollars should be able to build a diversified portfolio of institutional grade assets. Tokenization makes this possible. Hedera makes this possible. This is what democratizing finance actually looks like. Podcast supported by HashPack Wallet Hedera Hashgraph Hedera Foundation

Generation Infinity

161,084 views • 7 months ago

Something big just happened at BlackRock, and it’s a warning shot to everyone invested in private credit. The world’s largest asset manager just told clients: No, you can’t withdraw all the money you asked for. And for some, it was: no, you can’t withdraw your money at all. Not because the fund collapsed, but because too many investors wanted out at once. BlackRock’s $26 billion HPS Corporate Lending Fund was hit with $1.2 billion in redemption requests this quarter. That’s about 9.3% of the entire fund. But the structure only allows 5% to leave at once. So BlackRock paid out $620 million… and pushed the rest to future quarters. For the first time since the fund launched, the redemption gate was triggered, meaning nearly half the investors who asked for their money back couldn’t get it right away. And it’s not just BlackRock. Blackstone just saw a surge of withdrawals in its $82 billion private credit fund. Requests were so high the firm had to lift its usual redemption cap to 7% and inject $400 million of its own money just to meet demand. These funds lend money to companies through private loans, loans that don’t trade on exchanges and can’t be sold quickly when markets get volatile. So when investors rush to withdraw at the same time, the cash simply isn’t there. That means if you’re invested in private credit and everyone heads for the exits, the money you were counting on in your time of need might suddenly be locked up. Morningstar analyst Greggory Warren warned it should serve as “a warning sign for the industry and the rulemakers about the downside of illiquid funds for retail investors.” But here’s the good news: you’re an informed reader and you can plan ahead while everyone sleepwalks until the liquidity crisis affects them directly. That means there is still time to prepare and make moves accordingly so that you always have access to capital. And one of the most liquid and reliable assets in any crisis is physical gold and silver. Bill Armour from joins us to discuss how our readers can prepare before the next liquidity crisis locks investors out of their own money. 🧵

Something big just happened at BlackRock, and it’s a warning shot to everyone invested in private credit. The world’s largest asset manager just told clients: No, you can’t withdraw all the money you asked for. And for some, it was: no, you can’t withdraw your money at all. Not because the fund collapsed, but because too many investors wanted out at once. BlackRock’s $26 billion HPS Corporate Lending Fund was hit with $1.2 billion in redemption requests this quarter. That’s about 9.3% of the entire fund. But the structure only allows 5% to leave at once. So BlackRock paid out $620 million… and pushed the rest to future quarters. For the first time since the fund launched, the redemption gate was triggered, meaning nearly half the investors who asked for their money back couldn’t get it right away. And it’s not just BlackRock. Blackstone just saw a surge of withdrawals in its $82 billion private credit fund. Requests were so high the firm had to lift its usual redemption cap to 7% and inject $400 million of its own money just to meet demand. These funds lend money to companies through private loans, loans that don’t trade on exchanges and can’t be sold quickly when markets get volatile. So when investors rush to withdraw at the same time, the cash simply isn’t there. That means if you’re invested in private credit and everyone heads for the exits, the money you were counting on in your time of need might suddenly be locked up. Morningstar analyst Greggory Warren warned it should serve as “a warning sign for the industry and the rulemakers about the downside of illiquid funds for retail investors.” But here’s the good news: you’re an informed reader and you can plan ahead while everyone sleepwalks until the liquidity crisis affects them directly. That means there is still time to prepare and make moves accordingly so that you always have access to capital. And one of the most liquid and reliable assets in any crisis is physical gold and silver. Bill Armour from joins us to discuss how our readers can prepare before the next liquidity crisis locks investors out of their own money. 🧵

The Vigilant Fox 🦊

125,874 views • 4 months ago

Remember this scene in The Big Short? Jamie Shipley and Charlie Geller have bet everything against the housing market. They've been bleeding for months, wondering if they're wrong. Then they flip on CNN and see it: New Century Financial - the second-largest subprime lender in America - has filed for bankruptcy. "It's starting." That was April 2, 2007. New Century wasn't the crisis. It was 1% of the problem. But it was the first domino. 4 months later, BNP Paribas froze 3 funds citing "complete evaporation of liquidity." 18 months after that, Lehman was dead. I'd encourage you to watch that scene today. Because we JUST got our New Century moment in private credit: Blue Owl Capital - $307 billion in assets under management - just permanently halted investor redemptions at its retail private credit fund, OBDC II. Investors will NEVER AGAIN redeem shares from this fund. On January 25th, I wrote that private credit was showing cracks at the exact moment Wall Street wanted to open it up to your 401(k). 3 weeks later, here we are. The timeline follows a pattern anyone who's been around markets long enough recognizes: Through the first 9 months of 2025, OBDC II investors withdrew $150 million - up 20% year over year. Meanwhile, Blue Owl execs publicly assured investors there was "no meaningful pressure" on their asset base. But there was. And they're now facing a federal class-action lawsuit for saying otherwise. In November, they attempted a merger that would have forced OBDC II investors into a publicly traded fund trading at a 20% discount to NAV. Effectively confiscating a fifth of their capital. Blue Owl's own CFO conceded investors "could take a potential haircut." The stock dropped 11% in 8 days. They killed the deal. Now they've abandoned the pretense entirely. PERMANENT halt. Fire-selling $1.4 billion in loans across three funds. Investors get roughly 30% of NAV back through quarterly distributions - on Blue Owl's schedule, not theirs. One delightful detail: Blue Owl's co-CEOs have pledged $1.9 billion of their OWN company shares as collateral for personal loans - proceeds used, in part, to acquire the Tampa Bay Lightning. The stock is down 33% this year. That collateral has literally shed $260 million since January. Founders leveraging company stock for hockey teams while retail investors queue up for their own money. Wall Street's version of noblesse oblige. But here's what matters: This isn't about Blue Owl. Blue Owl is a symptom. The disease is a $3.4 TRILLION private credit industry built on opacity, conflicts of interest, and the polite fiction that illiquid assets can offer liquid redemptions. Morningstar DBRS reports the trailing default rate has risen to 4%, up from 2.8% a year ago. Downgrades outpacing upgrades. Outlook negative. UBS warns defaults could reach 13% if AI disrupts the software companies making up 17% of BDC loan portfolios. Payment-in-kind loans (where borrowers can't pay cash interest and simply pile it onto the debt) have surged past 11% of BDC income. When your borrowers are paying you with IOUs, the word "income" deserves quotation marks. And the government's response? Open YOUR 401(k) to private credit. Trump's executive order directed regulators to do exactly that. They want to "democratize" an asset class whose flagship retail product just permanently locked investors out. The KKRs. The Blackstones. The Apollos. Everyone loaded up on private credit is exposed. When the tide goes out, you find out who's swimming naked. In April 2007, New Century went bankrupt. Most of the financial world shrugged. 17 months later, Lehman made the point impossible to ignore. And Blue Owl permanently halted redemptions TODAY. AVOID PRIVATE CREDIT AVOID PRIVATE EQUITY Because it's starting...

Remember this scene in The Big Short? Jamie Shipley and Charlie Geller have bet everything against the housing market. They've been bleeding for months, wondering if they're wrong. Then they flip on CNN and see it: New Century Financial - the second-largest subprime lender in America - has filed for bankruptcy. "It's starting." That was April 2, 2007. New Century wasn't the crisis. It was 1% of the problem. But it was the first domino. 4 months later, BNP Paribas froze 3 funds citing "complete evaporation of liquidity." 18 months after that, Lehman was dead. I'd encourage you to watch that scene today. Because we JUST got our New Century moment in private credit: Blue Owl Capital - $307 billion in assets under management - just permanently halted investor redemptions at its retail private credit fund, OBDC II. Investors will NEVER AGAIN redeem shares from this fund. On January 25th, I wrote that private credit was showing cracks at the exact moment Wall Street wanted to open it up to your 401(k). 3 weeks later, here we are. The timeline follows a pattern anyone who's been around markets long enough recognizes: Through the first 9 months of 2025, OBDC II investors withdrew $150 million - up 20% year over year. Meanwhile, Blue Owl execs publicly assured investors there was "no meaningful pressure" on their asset base. But there was. And they're now facing a federal class-action lawsuit for saying otherwise. In November, they attempted a merger that would have forced OBDC II investors into a publicly traded fund trading at a 20% discount to NAV. Effectively confiscating a fifth of their capital. Blue Owl's own CFO conceded investors "could take a potential haircut." The stock dropped 11% in 8 days. They killed the deal. Now they've abandoned the pretense entirely. PERMANENT halt. Fire-selling $1.4 billion in loans across three funds. Investors get roughly 30% of NAV back through quarterly distributions - on Blue Owl's schedule, not theirs. One delightful detail: Blue Owl's co-CEOs have pledged $1.9 billion of their OWN company shares as collateral for personal loans - proceeds used, in part, to acquire the Tampa Bay Lightning. The stock is down 33% this year. That collateral has literally shed $260 million since January. Founders leveraging company stock for hockey teams while retail investors queue up for their own money. Wall Street's version of noblesse oblige. But here's what matters: This isn't about Blue Owl. Blue Owl is a symptom. The disease is a $3.4 TRILLION private credit industry built on opacity, conflicts of interest, and the polite fiction that illiquid assets can offer liquid redemptions. Morningstar DBRS reports the trailing default rate has risen to 4%, up from 2.8% a year ago. Downgrades outpacing upgrades. Outlook negative. UBS warns defaults could reach 13% if AI disrupts the software companies making up 17% of BDC loan portfolios. Payment-in-kind loans (where borrowers can't pay cash interest and simply pile it onto the debt) have surged past 11% of BDC income. When your borrowers are paying you with IOUs, the word "income" deserves quotation marks. And the government's response? Open YOUR 401(k) to private credit. Trump's executive order directed regulators to do exactly that. They want to "democratize" an asset class whose flagship retail product just permanently locked investors out. The KKRs. The Blackstones. The Apollos. Everyone loaded up on private credit is exposed. When the tide goes out, you find out who's swimming naked. In April 2007, New Century went bankrupt. Most of the financial world shrugged. 17 months later, Lehman made the point impossible to ignore. And Blue Owl permanently halted redemptions TODAY. AVOID PRIVATE CREDIT AVOID PRIVATE EQUITY Because it's starting...

George Noble

1,529,297 views • 5 months ago