The market has exited the capitulation phase of June 2026, where BTC fell below $60k, driven by ETF creations and…
1.1 Bitcoin. Core Collateral, Not an Alt Price sits below the self-custody cost basis shelf (~$80.8k) and under the Glassnode…
Bitcoin rallied 6% in the week of August 19, triggered by a yields at their highest since 2007, seen as…
Contagion in AI financing cannot be understood through valuation levels or even growth rates. It must be understood through the…
Private credit funds face significant 2026 risks from two AI-related channels: disruption to software borrowers and demand shortfalls in AI…
They allow hyperscalers to expand capacity rapidly while keeping the bulk of associated debt off their consolidated balance sheets, converting…
EXECUTIVE SUMMARY. QUANTITATIVE FINANCE Contagion in AI financing cannot be understood through valuation levels or even growth rates. It is…
Executive Summary With over $315 billion in daily trading volume, stablecoins have become the systemic plumbing of programmable finance. Yet,…
Circular financing in the AI sector refers to a tightly interlinked system of equity investments, compute commitments, guarantees, and off-balance-sheet…
AI bubble risks are elevated as of mid-to-late 2026, driven by an unprecedented capital expenditure boom outpacing near-term monetization, high…