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Finance

Stablecoins Are Not a Dollar Substitute Yet

A smart contract flaw dropped one stablecoin from $1.00 to $0.025 in 17 minutes. Accounting frameworks want to call these instruments cash equivalents. The safety record does not support that classification.

By Marcus Cole · 3 min read

Finance

The 2.46% Default Rate Is a Lie and the Real Number Should Terrify You

Private credit's headline 2.46% default rate obscures a true distress rate approaching 5.7%, with 40% of borrowers running negative free cash flow. The interconnection between this $3 trillion market and the banking system is the risk nobody wants to quantify.

By Ray Vega · 5 min read