Alex

@gnoble79 Translation: they’re fucked.

This is one of the most shameless displays of financial gaslighting I've seen in 45 YEARS. This week Blue Owl Capital disclosed that investors demanded 41% of their money back from one fund and 22% from another. $5.4 BILLION in total redemption requests in a single quarter. Blue Owl's response? They capped withdrawals at 5%. Meaning if you had $1 million in Blue Owl's tech fund, you asked for $410,000 back, and they gave you $50,000. Then they put out a LinkedIn post blaming "heightened negative sentiment" and insisting their fund performance is "robust." That's like a restaurant blaming Yelp reviews while the kitchen is on fire. Here's what they don't want you to focus on: 70% of Blue Owl's lending book is concentrated in software companies. They admitted this on their own earnings call. These are the exact businesses most at risk of being disrupted or destroyed by AI. And when the Wall Street Journal investigated further, they found Blue Owl's flagship fund reported 11.6% software exposure in public filings. The Journal's own analysis found it was actually closer to 21%. That's not just a rounding error... The timeline tells you everything: In February, Blue Owl sold $1.4 billion in loans to meet redemptions. They claimed 99.7 cents on the dollar. Sounds great right? Except one of the buyers was Kuvare - an insurance company whose asset management arm Blue Owl ACQUIRED for $750 million in 2024. Blue Owl manages their money. They sold assets to a company they control and called it an arm's length transaction. Barclays downgraded the stock. Shareholders filed a lawsuit. Congress is now demanding disclosures on sales practices, leverage, and risk management. The stock hit a record low of $7.95 - down over 60% from its 52 week high. And through all of this, Blue Owl's CEO went on the earnings call and said: "We don't have red flags. We don't have yellow flags. We actually have largely green flags." $5.4 billion in redemption requests. 60% stock decline. Gated exits. Congressional scrutiny. All green flags, apparently. I've been warning about private credit for months. The sales pitch was always the same: equity-like returns with bond-like stability. No volatility. No correlation to public markets. Safe. Predictable. Except when investors actually want their money, they discover the exits are bolted shut. You can't eliminate volatility. You can only HIDE it. And that's exactly what Blue Owl has been doing - hiding risk behind opaque valuations, related-party transactions, and withdrawal gates. This isn't "negative sentiment." This is what happens when the tide goes out. Are you listening?

@margincalm I got these Rick and Morty shorts man they so comfy and light

after further analysis I have concluded we are going lower.

@MrFamilyOffice all of that to underperform the snp and shove down the throat unredeemable credit for 10% comissions upfront. yikes dumb fucking takes.

The cost of opening a Single Family Office + cost trends below

@KobeissiLetter Right in time for market open!

BREAKING: President Trump says Iran has 48 hours to open the Strait of Hormuz or "all hell will reign down on Iran." "Remember when I gave Iran ten days to make a deal... time is running out," Trump says.

@Mattertrades youtube.com/watch?v=H78YW7…

Once my father told me "Son people like us don't have people” We're the people that others have And that hit me different

@NotA_Bull We live in a day and age where you kind of have to prove your point with a respective financial bet, i.e. put your money where your mouth is. So, show the short.

The stock market will be RED on Monday!

Yeah agree. That's why I don't use crypto 'neobanks' because I get rinsed on FX. It probably makes more sense for users with opaque sources of funds/or tax liabilitites, but if you're in good standing I can't justify 3% "FX fees". Much better to offramp dollars and use banks with good fx rates (i.e. Revolut).

@margincalm Partially true. One of the pitfalls. They would say as demand grow they will get more liquidity. The issue of no integration is exactly chicken/egg story. And my main point with the post. We need more apps thinking to integrate them

The neobank problem with building using only USD stablecoin onramps is that you force every other currency to marry a single FX rate to “enter web3.” It’s an unnecessary hurdle. Instead: onramp 1:1 to a local stablecoin and then orchestrate the best onchain FX. Who is building this?

@RealSpaceMonkey Because that’s the most plugged into integrations and battle tested, with US pedigree. Fiat ramps learned to trust it and won’t shut down your bank account if you use it.

I don't understand why we use USDC. Why not USDT? They're clearly so incompetent to the point where it feels like they're doing it on purpose. Reminds me of how Coinbase had terrible infra for Solana deposit/withdraw. Are they also so incompetent when Base protocols get hacked?

I’d want visibility into the underlying loan book / exposures rather than just aggregated NAV + allocation. Not implying this is comparable to platforms like Mintos or Grupeer, but the failure mode there was also yield built on opaque credit packaging. The key questions for me: •what exact cashflows are generating the ~8%? •how much is realized vs mark-to-model? •what does borrower-level exposure actually look like? •what happens under forced liquidity / redemptions? Isolation removes contagion, but it concentrates dependency on a single asset and its oracle assumptions. If this is effectively structured credit, then transparency at the loan level matters more than aggregate metrics.

Elemental USDG lend vault on Kamino has averaged ~8% APY over the past 30 days the DeFi dollar benchmark rate averaged ~2.8% over the same period per @AllezLabs post Drift, the question everyone's asking about lending vaults is where is the yield coming from and what am I actually exposed to interestingly, this pool allocates solely to the OnRe Market that means two things: - the collateral risk you're underwriting is exposure to $ONyc - you are not exposed to unrelated assets across multiple pools while this brings concentration risk, it conversely eliminates contagion risk with the pool being entirely isolated from others the OnRe market looks compelling for stable allocation for several reasons: - NAV-based oracles protect LTVs during panic selling - low max leverage + wide 10% liquidation LTV window - ONyc price is tied to booked profit + proof of reserves, not speculative future profits - reinsurance premium losses hit APY rather than NAV you can always check where lend vaults on Kamino allocate via the allocation panel per vault - learning to assess risk rather than chase the highest APYs is an essential skill in DeFI

@Crypto_McKenna They don’t expect: they force. Ask the ukranians. See the daily kidnapings from their own. People are fucked up in the head.

Do governments seriously expect young men to join the military after DEI polices preventing meritocratic hiring and radically altering the demographic of their own country of which is subsidized by people they expect to go to war? Who exactly are we fighting for? Nationalism is dead and there is no reviving it without reclaiming Europe. All of this is a fucking clown show.

@Darky1k Post your shorts

The US economy is fucked Monday is gonna be red

@MacnBTC Prob my most profitable months ever.

has anyone in crypto even made money longing anything past 3 months? I haven't done one trade since (checks notes) Feb 5th

@DriftProtocol In hindsight, the spreads were bad.

50c+ spread on @DriftProtocol again... saw it 70c a few mins ago ... bruh, fix your spreads PLEASE

@IvanOnTech @TaikiMaeda2 Cool bro.

@margincalm @TaikiMaeda2 But with money

Crypto Fear & Greed is at 8, similar levels to COVID in 2020 and the 3AC/LUNA collapse in 2022. It always feels terrible after price goes down a lot. But that's precisely when we should start looking to buy long-term spot bags. Short 🧵

@IvanOnTech @TaikiMaeda2 Pussy

@TaikiMaeda2 Better to wait for the price trend to turn instead of front running in with fear and greed or other non-tradeable indicators

@justinknox__ there s a ton of trading terminals around solana. but the fact that you can't get a decent spread to trade sol-perp on sol is sad. just sad. and jup just rips you off with ridiculous fees.

the solana trading terminal gap is wild we have the fastest chain, cheapest fees, most active users. and the best way to trade on it is still... ? where is the onchain terminal that feels like hype/binance/coinbase pro but for Solana DeFi?

@assasin_eth @DeFiCarrot @project0 You must be new here

@DeFiCarrot @project0 Does this mean that Carrot will cover the losses of Carrot users?

1/ Update on Carrot We have been in touch with the @project0 team, and expect that we will see a 2% drawdown on the $781k PYUSD balance that was deposited there before the exploit, for an additional loss of $15.6k This we expect will adjust the CRT price to $57.5466

@MacroBombastic @Cointelegraph Turns out the odds were, in fact, not in his favour.

@Cointelegraph Bro, it's what happens when the odds are in your favour.

🔥 UPDATE: Rare win as individual miner secures full block reward of 3.139 $BTC worth $210K.