💸 JPM Prints $MONY on $ETH

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Ouch. 🩸 $600M wiped out overnight (Binance leading) as Wall Street dumps AI stocks & Congress trading bans loom.

$BTC ( ▼ 2.95% ) tapped $86k, $ETH ( ▼ 5.71% ) lost $2.9k. The BOJ decision is still 3 days away... why is the market front-running the fear so early? 🤔 Stay safe, fam!

Here’s what we got for you today:

• 👀 The next AI bottleneck isn't chips

• ⭐ The Free money glitch is nding

• ⭐ JPM Prints $MONY on Ethereum

• 🔥 Burning hot takes for the road

For the last two years, the AI trade was easy: Buy GPU stocks, big cloud companies → Prices go up. But that was Level 1. Now we’re entering Level 2. The problem is no longer chips. It’s electricity ⚡.

One AI data center now uses as much power as a small city. Think 100,000 homes plugged in at once. The power grid was never built for this. The spare capacity is almost gone. We’re literally running out of places to plug AI in. Our trader today broke down the 2026 Supply Shock, why Nuclear is lagging, and where the real Infra Alpha is hiding.

💴 BOJ RATE HIKE: THE YEN CARRY TRADE IS BACK!

While everyone is glued to US AI stocks and the Fed's recent cut, a massive storm is brewing across the Pacific that could matter way more for your bags.

The Bank of Japan (BOJ) is set to hike rates this week (Dec 18-19). If you remember the flash crash earlier this year, you know why this is scary. The "Yen Carry Trade" unwinding was the culprit then. And guess what? It’s back on the table.

Here is the breakdown of why you should care.

1. The "Free Money" Glitch is Ending

For years, the Yen Carry Trade was the infinite money glitch:

• Borrow Yen at 0% interest.

• Swap it for USD.

• Buy US Tech Stocks & Crypto. 🚀

• Profit.

But now, Japan’s 10-year yields are at an 18-year high. The gap between US and Japanese rates is narrowing. The glitch is getting patched.

→ JP Morgan estimates ~50% of these trades closed last year, but analysts believe $500 Billion in Yen-funded leverage is still out there. That is half a trillion dollars of potential sell pressure.

2. The Math Doesn't…. Math Anymore

Here is where it gets ugly for the carry traders:

• US 10Y Yield: ~4.18%

• Japan 10Y Yield: ~1.96%

• Hedging Cost: ~2%

If you are an institutional player borrowing Yen to buy US bonds, your profit margin after hedging is basically zero. The "easy arbitrage" is dead. The only reason the Yen is still weak? Degens are still chasing Nvidia and US equities unhedged. But if the Yen starts strengthening (appreciating), those unhedged positions get underwater fast.

My Take:

I don't think we see a catastrophic "Black Monday" crash like before. The rate gap is still there, so a total unwind is unlikely overnight.

The real risk is liquidity suffocation. If the BOJ hikes and signals more hikes in 2026 (plus selling their ETFs), the global flow of cheap liquidity dries up.

→ Best Case: A choppy market as leverage gets flushed out slowly.

→ Worst Case: The Yen strengthens rapidly, forcing a margin call on that remaining $500B.

Watch the USD/JPY pair this week like a hawk. If the Yen pumps, risk assets (including Crypto) could take a hit. Don't leverage up until the BOJ speaks, guys.

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🏦 JPMORGAN LAUNCHES $100M TOKENIZED FUND ON ETHEREUM

Remember when JPMorgan CEO Jamie Dimon called BTC a "pet rock" and "worse than tulip bulbs"? Well, the joke is on him (or maybe us?) because his bank just officially launched a tokenized money-market fund on Ethereum.

Yep, you read that right. The biggest bank in the US is diving in headfirst, seeding the fund with $100 million of their own capital.

So what is this new "MONY" fund? It’s called My OnChain Net Yield (MONY), and unlike the "blockchain experiments" of 2021, this one runs directly on the Ethereum mainnet.

• The Yield: It holds boring, safe short-term debt securities but issues digital tokens to represent your share.

• The Kicker: You can subscribe and redeem using $USDC ( ▼ 0.0% ) . (Stablecoins officially winning!).

• The Gatekeeping: Before you get too excited, this is for the "big boys" only. Minimum investment is $1 million, and you need $5 million in assets just to knock on the door 😉.

But the signal is clear: The world's largest bank is building on public blockchains, not just private sandboxes.

The Plumbing Upgrade (DTCC enters the chat)

This JPM move connects perfectly with another massive shift happening in the background. The DTCC (the giant that processes basically all US stock trades) just got the green light to handle tokenized securities.

Why does this even matter? Until now, most tokenized stocks on-chain were "wrapped."

• Wrapped = A middleman buys a stock, holds it, and issues a "trust me bro" token on-chain. It’s murky. Who gets the dividends?

• Native (DTCC style) = The token is the stock. No middleman. No ambiguity.

Think of it like this: Wrapped tokens are like your mom trying to make McDonald’s burgers at home. It looks similar, but we all know it’s not the real thing. 🍔 The new wave of tokenization (JPM & DTCC) is the Big Mac. It’s the real deal, legally and technically.

My take:

We are seeing the formation of a "Mullet" economy in crypto: Business in the front (TradFi), Party in the back (DeFi).

With the RWA market hitting a record $38 billion, institutions like BlackRock and now JPMorgan are rushing to capture the yield. The rails are being built. The banks are here.

And the funniest part? They are paying gas fees on Ethereum just like the rest of us. ⛽

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🔥 BURNING HOT TAKES FOR THE ROAD

American Bitcoin ($ABTC ( ▼ 7.3% ) ) bought the dip again, boosting its total holdings to $500M even as $BTC (▼4.2%) slipped below $90k. Read more

MetaMask is officially orange-pilled. The wallet giant just rolled out native $BTC ( ▼ 2.95% ) support, marking a major step in its multi-chain expansion. Read more

SEC Chair Atkins warned that crypto could become a "financial surveillance tool" but insisted there is a path to preserve privacy. Read more

Visa just launched a global Stablecoin Advisory practice to help banks and businesses integrate stablecoins directly into their payment flows. Read more

Trump is reviewing a pardon for Samourai Wallet co-founder Keonne Rodriguez, signaling a potential win for privacy activists. Read more

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