Bits + Bips

Five Weeks of Losses: Where Do Markets Go From Here? x.com/i/broadcasts/1…

.@pan_teo_ of Pareto: on-chain repo reaches $1 trillion within five years. @_CraigBirchall of FalconX: one reason it gets there, one reason it doesn't. The honest bull and bear case — @bitsandbips interview with @Steve_Ehrlich. 🚨 Why the Aave crisis was a repo problem 📉 How a liquidity gap becomes a liquidation cascade 🚧 The standardization challenge that could stop it all youtu.be/bu9wRuDs9pc

On-chain private credit has crossed $5B. The borrower side works. The secondary liquidity side doesn't. @_CraigBirchall of FalconX and @pan_teo_ of Pareto on what they're building to close that gap — @bitsandbips Interview with @Steven_Ehrlich. 💼 How FalconX is using its tokenized loan book today 🔗 Composability: using credit assets as Morpho collateral🤝 The HyFi hybrid model — what goes on-chain and what doesn't youtu.be/vAOecydXKl0

The repo market is $16T globally. It is the central nervous system of the entire financial system. But almost none of it is on-chain. @_CraigBirchall of FalconX and @pan_teo_ of Pareto explain how to change that — with @steven_ehrlich on Bits + Bips: The Interview. 🏦 What repo actually is and why it matters 💥What broke in 2019 — and the DeFi parallel 🔄How the FalconX × Pareto product actually works unchainedcrypto.com/bits-bips/the-…

The crypto pods you'll still be listening to in 2 years are the ones doing the work right now. Bits + Bips is one of them. Subscribe before the migration: linktr.ee/bitsandbips

Is the AI trade a bubble? @ramahluwalia says clearly no — the bubble is in private markets. @perkinscr97 says it will eventually pop. @austincampbell asks if we're putting the money in the right places. @bitsandbips 🤖 Semis at 18% of the S&P — a new record 📊 Why Micron at 10X still looks cheap to Ram 🔍 63 AI unicorns, zero revenue youtu.be/Tqx1uFpGt0w

FT @pan_teo_

Stablecoin holders are quietly building the case for stablecoin repo. Nobody wants to burn and re-mint every time they need to switch from PYUSD to USDe. The plumbing for this doesn't exist yet, and whoever builds it owns the flow 🏗️ x.com/i/broadcasts/1…

FT @pan_teo_

"The line between DeFi and CeFi is fading over time. We see more and more overlaps and hybrid models, because forced adoption of smart contracts isn't the point." 🌉 x.com/i/broadcasts/1…

FT @_CraigBirchall

"We've experienced this frankly in some cases by accident, where folks go, well, maybe I can borrow against this token. Maybe I could do a repo type facility." ♻️ x.com/i/broadcasts/1…

FT @pan_teo_

The reason TradFi repo works at scale isn't the rate or the collateral. It's that BNY and JPM quietly run the plumbing for both sides. DeFi has no equivalent and pretends it doesn't need one 🔧 x.com/i/broadcasts/1…

FT @_CraigBirchall

"The overnight repo rate in the US spiked from around 2% to over 20% in a single day. The Fed had to intervene with emergency cash for the first time since the financial crisis." 🚨 x.com/i/broadcasts/1…

FT @_CraigBirchall

Everyone obsesses over stablecoins and tokenized treasuries. The actual plumbing of TradFi is repo. 80% of it is government bonds. On-chain hasn't even started. ⚡️ x.com/i/broadcasts/1…

Repo Is $16T. Onchain Credit Is $5B. What's Missing? x.com/i/broadcasts/1…

Is Circle's $3B Arc blockchain the institutional payments rail the industry has been waiting for or is it a tracking stock in disguise? 🔗 USDC as gas token: neutral or preferential? 🏦 Why BlackRock and Apollo bought a token, not equity 📉 What Coinbase needs to do to stop the bleeding @ramahluwalia @austincampbell @perkinscr97 @bitsandbips unchainedcrypto.com/bits-bips/why-…

Most of you "love the show" but haven't actually hit subscribe. Now's your chance to prove it before Bits + Bips migrates 👇 linktr.ee/bitsandbips