Crypto Why Bother

You want to become a Crypto millionaire in the next bull run? You'll need: • Wisdom - find the best projects • Stamina - work relentlessly and stick to the plan until the market rewards you 👇 40 most essential questions to find the next 10x+ gems 🧵

Biggest spread since 2013 between Brent and WTI Crude In other words, Europe are going bankrupt.

Central banks are trapped. Private credit markets cracking → Level 1 "stress". Intervention is not a question of "if." It's "when." Central banks print → Level 2 "repair" mode. That M2 expansion has to go somewhere. Spoiler: it goes into risk assets. BTC. Tech. Emerging Markets. Level 3 = systemic "recovery" via asset inflation. The playbook hasn't changed since 2008. Only the numbers got bigger. The system is rigged - against or in favour of you, your choice.

Private Credit Summary with timeline - March 25th $1.8 TRILLION PRIVATE CREDIT INDUSTRY FACES WAVE OF REDEMPTION REQUESTS AS FUNDS CAP WITHDRAWALS AT 5-7% Goldman Sacks AND JPMorgan OFFER HEDGE FUNDS BASKETS TO SHORT PRIVATE CREDIT MARKET DIMON ORDERED FULL-SCALE INSPECTION OF JPM LOAN BOOKS FOR SOFTWARE EXPOSURE TIMELINE: Feb19: Blue Owl Halts Redemptions on Private Credit Retail Fund Feb25: UK mortgage lender 'MFS' collapsed amid allegations of fraud. They had borrowed more than £2b ($2.7b) from heavyweights incl. Barclays and Banco Santander, claimed to be one of the UK’s biggest providers of short-term bridge loans until its demise Mar3: Blackstone’s Flagship Private Credit Fund Hit by Record Redemptions Clients pulled $3.7b from BCRED in Q1 Mar6: BlackRock $26b Private Credit Fund Limits Withdrawals Mar11: JPM Restricts Some Private Credit Lending After Markdowns Mar12: Morgan Stanley restricts redemptions at private credit fund after withdrawals surge, honors less than half of 11% redemption requests Mar12: Cliffwater $33B flagship fund caps redemptions at 7% after investors request record 14% withdrawal, first time exceeding inflows Mar21: Blackstone flagship private credit fund posted its first monthly loss in more than 3 years: infinityhedge Mar23: Apollo Caps Private Credit Fund Withdrawals as Requests Hit 11% gives investors only 45% of requested withdrawals from $15b fund Mar24: Moody’s cuts rating on private credit fund run by KKR & Future Standard to junk as bad loans grow Mar24: Ares limits withdrawals from $10.7b private credit fund at 5% after requests hit 11.6%, fulfilled only $524m of $1.2b requests Mar25: Barclays Pulls Back on Asset-Based Lending After MFS Collapse VIEWS: * The shakeout risks delaying the industry's $9T lobbying target: penetrating 401(k) retirement accounts * Oaktree’s Poli notes that discounts are already "sizeable" in software debt, but the broader "big step-in opportunity" hasn't quite arrived yet, as high-yield bonds are still hovering around 7.1%: infinity-hedge * DoubleLine CIO: Called private credit the top candidate to spark the next financial crisis * DB: Flagged a massive $30B exposure to private credit, representing ~5% of its total loan book * UBS warns private credit defaults could reach 15% in worst-case scenario due to ai disruption of software companies * Apollo's Zito says Blackrock capping redemptions at 5% was exactly the right decision to protect redeeming & remaining investors * Boaz warns interval funds overpromised you can get out but it doesn't work if there's actually a fire * Ares CEO Mike blasts UBS 15% default forecast as actually irresponsible amid private credit software exposure concerns * GS's Bantwal says limits on fund withdrawals are features not bugs * MS analyst warns private credit defaults could reach COVID-level 8% as AI disrupts software firms * Pimco's Stracke says 20-30% exposure to single industries like software prompts investors not wait to see how bad it gets * DB's Sewing says in more than 10 years we haven't lost one cent in private credit * JPM est. that software debt accounts for around 30% of all private-credit loans outstanding, while bank-originated debts hover around 10% * Corbin Capital's Cocke says you cannot create liquidity from illiquid asset class, not enforcing limits creates first-mover advantage * Fed Chair in 2007 said no significant spillovers from subprime expected, similar to 2026 complacency on private credit * ECB to start fresh checks on banks' private credit exposure as concerns intensify over loan quality and ai impact * U.S. banks back private credit with ~$300B (Moody's). IMF est. U.S. & EU banks carry a combined $4.5T exposure to non-bank financial institutions overall * Evercore ISI: No sympathy for Main Street panicking "Semi-liquid funds were designed & marketed as products offering limited liquidity It’s important to retrain the investor base on the nature of private assets.