Cryptonami

Let’s gooo…🤝build the world we know is possible. Cryptoassets + DEFI

[Cryptonami @deficryptonami]

@Bitwise Nearly launchpad!

[Cryptonami @deficryptonami]

@KobeissiLetter @HenrikZeberg Wondering whether your view accounts for the impacts of Hormuz now controlled by Iran and knock on effects on this energy-reliant AI build out…does recession come without blow off?

https://t.co/cbDziPIcot

[Shanaka Anslem Perera ⚡ @shanaka86]

JUST IN: At 6am on March 31, Oracle sent identical emails from “Oracle Leadership” to between 20,000 and 30,000 employees. System access was revoked before most of them finished reading. Eighteen percent of the global workforce eliminated in a single morning. TD Cowen estimates $8 to $10 billion in annual cash-flow savings from the cuts. The same morning, Jamie Dimon went on Fox and Friends and said America must “clean up the straits.” He did not mention that the straits are the reason Oracle needs the cash.

Oracle’s five-year credit default swap spread closed at 198 basis points on March 31. An all-time record that exceeds Oracle’s peak during the 2008 global financial crisis. The company that survived the collapse of Lehman Brothers is now registering more credit stress from building AI data centres than it did from the implosion of the banking system. The market is pricing Oracle as a company whose bet is larger than the system’s ability to absorb the risk.

The bet is $124.7 billion in total debt, up from $89 billion a year ago. Fifty billion in capital expenditure this year, directed at AI data centres for the $300 billion OpenAI Stargate partnership requiring 4.5 gigawatts of power and over two million NVIDIA GPUs. And negative free cash flow of $24.7 billion trailing twelve months, meaning Oracle spends $25 billion more than it earns while firing the people who generate the earnings.

Here is the connection that makes this an Iran war story and not just a corporate restructuring. Every one of those NVIDIA GPUs is manufactured by TSMC using extreme ultraviolet lithography cooled by helium from Qatar’s Ras Laffan, which Iranian missiles struck on March 18. The data centres those GPUs power consume electricity generated by natural gas priced at $107 Brent, driven to that level by the Hormuz closure the war created. Oracle is borrowing $124 billion to build infrastructure whose two critical inputs, chips and power, are both priced by the war. The layoffs are not about efficiency. They are about converting human salaries into cash to service debt on machines whose operating costs are rising with every day the strait stays closed.

Oracle’s bondholders have filed a class action lawsuit alleging the company concealed $18 billion in additional borrowing when it issued notes in September 2025 for the Stargate deal. Moody’s rates Oracle Baa2 with a negative outlook. S&P rates it BBB negative. Both are one notch above the threshold where downgrades cascade, borrowing costs spike, and the $553 billion backlog that justifies the entire bet becomes harder to finance.

The backlog is real. $553 billion in remaining performance obligations, up 325 percent year over year, anchored by OpenAI and US defence contracts including an $88 million Air Force Cloud One task order. But backlog is not cash. Cash is what Oracle needs today to service debt priced by a credit market that just recorded the widest spread since the company was founded.

Oracle fired 20,000 people on the same morning the CEO of the world’s largest bank said the strait must be cleaned up. The strait funds the oil that powers the data centres that required the debt that necessitated the layoffs. Follow the chain far enough and every severance email traces back to a chokepoint 39 kilometres wide.

The AI revolution is being financed by the war it cannot afford.

https://t.co/dAOBBMsgDS

[Cryptonami @deficryptonami]

@APompliano @NYCMayor I’m not sure that making NYC transit free is the same as what has been taking place in Venezuela. Nor would it be fair to call an illegitimate leader funded by narco-terrorism a socialist. We should be fair for the sake of Venezuelans who have had to endure this regime.

[Cryptonami @deficryptonami]

@milesdeutscher Why are you alone in every picture? 😕

[Cryptonami @deficryptonami]

@cburniske Dance out w your bags before low tide

[Cryptonami @deficryptonami]

@CheekAnalytics @GIGACHAD_meme What is the background on these various purple and orange lines come from? Do you have an indicators system?

[Cryptonami @deficryptonami]

@goodalexander You've been clear that you're all in on supplanting XRP. What about KEETA? Seem to be emerging as the competition.

[Cryptonami @deficryptonami]

@cburniske

[Cryptonami @deficryptonami]

Buy me on Clout App (@cloutdotme)

[Cryptonami @deficryptonami]

@Web3Quant @kelxyz_ Thanks for sharing. Need more to share stories of the dreams driving the grind here.

[Cryptonami @deficryptonami]

@aixbt_agent What's your take on @popcatsolana ? Memes have done amazing so far this cycle. Views on rest of the cycle?

[Cryptonami @deficryptonami]

@davthewave Bull market. Lez go!

[Cryptonami @deficryptonami]

@Web3Quant

[Cryptonami @deficryptonami]

@milesdeutscher

[Cryptonami @deficryptonami]

@wassielawyer Lots of insightful views wrt identity politics. However, the context for such political strategy working is the much larger issue of global capital free riding (a la 2008 financial crisis), $ printing and people falling further and further behind. Real war is people vs capital.

[Cryptonami @deficryptonami]

@IvankaTrump Billonaire platitudes and cake - while in the real world, democracy, environment, and community on fire. You have privilege that most can't imagine. Use it.

[Cryptonami @deficryptonami]

@IvankaTrump I'm sure you feel bad, but how about instead of posting platitudes on a social media platform you come out publicly against your dad's positions.

[Cryptonami @deficryptonami]

@NateGeraci @cburniske Your diagnosis is right. Other representation models exist but need hard work to get there…random lottery, like juries, represent societal views but avoid gaming system and power structures; citizen assemblies similar e.g. https://t.co/MQd0T5VgAS
Crypto also has role to play…

[Cryptonami @deficryptonami]

@lmaohq @cburniske Me ready to laugh again

[Cryptonami @deficryptonami]

@lmaohq I am ready to laugh again