Philippe VORNIQUE

Senior Institutional OTC Sales

[Erik Voorhees @ErikVoorhees]

Holding government treasuries is the greater fool theory at empire scale

Dollars will be continually printed to pay the otherwise-unpayable debt. As they're printed, a holder of fool-bonds will demand higher rates to compensate for the debasement. This will continue gradually until panic happens and then greater fool theory is answered.

Don't own fool-bonds and minimize exposure to fiat.

This is financial advice.

[Philippe VORNIQUE @PhiVor]

@AshCrypto No because it’s a spread trade, if they unwind the short ETF, they buy the spot

[Jay Martin @JayMartinBC]

Before a collapse, nothing looks wrong. The numbers are printing records, the money is flowing, and the people warning about it are laughed out of the room.

Last time it was housing. Today it's AI.

The fire doesn't start when the rally ends. It starts inside the climb. Here's how it happens.

[Philippe VORNIQUE @PhiVor]

RT @kevindepatoul: Time flies! In 2018, @JuanDMendieta, @JeremyDeGroodt and I closed @keyrock seed funding. Today, we've added more great p…

[Miles Deutscher @milesdeutscher]

https://t.co/WoKO73P8ox

[Bhaji Illuminati @itsbhaji]

Nice summary @PanteraCapital

[Dougie @DougieDeLuca]

https://t.co/q5LVbaaPpx

[Keyrock 🔑🪨 @keyrock]

Proud to collaborate with @zodiamarkets and @elwood_io as Zodia expands its liquidity hub on Elwood.

This integration boosts access to dependable digital-asset liquidity and creates a cleaner, more efficient execution flow.

[Shanaka Anslem Perera ⚡ @shanaka86]

JAPAN JUST KILLED THE GLOBAL MONEY PRINTER AND NOBODY NOTICED

The most dangerous number in finance right now is 1.71%.

That’s Japan’s 10-year bond yield. Highest since 2008. Here’s why your retirement just got obliterated:

For 30 years, Japan printed infinity money at 0% rates and exported it worldwide. $3.4 trillion flowed into US Treasuries, European debt, emerging markets. This invisible bid kept YOUR mortgage cheap, YOUR stocks inflated, YOUR government solvent.

November 10th, 2025: The bid disappeared.

Japan’s yield hit 1.71%. They’re pumping $110 billion stimulus into their economy while debt sits at 263% of GDP. The math just became impossible. At 1.7% rates, Japan pays $27 billion MORE in interest. Every. Single. Year.

Here’s the extinction event nobody sees coming:

Japanese pension funds are pulling $1.1 trillion OUT of US Treasuries right now because keeping money in America LOSES them money after hedging costs. The largest foreign buyer of American debt is becoming a seller.

When Japan stops buying, interest rates don’t stay flat. They explode. US 10-year yields will jump 40 basis points minimum from flow dynamics alone. Your 7% mortgage becomes 8%. Corporate debt refinancing costs spike 60%. Zombie companies holding $3 trillion in junk bonds start defaulting in waves.

The yen carry trade just reversed. $1.2 trillion in borrowed yen funding crypto, stocks, emerging markets must unwind. Every hedge fund, every momentum trade, every leveraged bet built on free Japanese money is getting margin called simultaneously.

This breaks in three places:

Stock valuations were built for 2% bond yields forever. At 3.5% yields, the S&P 500 fair value drops 35%. Emerging market currencies collapse without Japanese capital inflows. Europe’s debt crisis returns because Italy and Spain lose their silent buyer.

December 18th the Bank of Japan meets. 50% chance they hike again. If they do, sell everything not nailed down.

Your 401k doesn’t price this in yet. The Fed can’t stop this. No central bank can.

The world’s biggest piggy bank just cracked open and the money is flowing backwards.

Position accordingly or get destroyed.​​​​​​​​​​​​​​​​

Full article here - https://t.co/NAuONH2jlj

[Philippe VORNIQUE @PhiVor]

@bneiluj @keyrock @Morpho Nice one!

[Keyrock 🔑🪨 @keyrock]

If you’re attending @EBlockchainCon, catch our Researcher @benharvey to explore how BTC, ETH, and SOL are shaping corporate treasuries.

He’ll share insights from his research on Bitcoin treasury adoption and onchain asset management.

Bitpanda Main Stage
🗓️17 Oct | 11:05–11:55

[MLM @mlmabc]

In case you didn’t know - the BTC whale closed 90% of his BTC short and fully closed his ETH short, making around $190–$200M profit in just one day on Hyperliquid.

The crazy part is that he shorted another 9 figs worth of BTC and ETH minutes before the cascade happened. And this was just publicly on Hyperliquid imagine what he did on CEXs or elsewhere. I’m pretty sure this guy played a huge role in what happened today.

https://t.co/KPzg4u1tN8

https://t.co/K9MFyjcAL4

[Keyrock 🔑🪨 @keyrock]

Presenting Keyrock Asset & Wealth Management.

Strengthened by the acquisition of Turing Capital, this new division is built to set a new standard for resilient, data-led and scalable investment solutions.

[Keyrock 🔑🪨 @keyrock]

This Thursday, we go live to unpack Bitcoin Treasury Companies. 📊

-725k $BTC.
-73% avg. NAV premium.
-$33B in capital raised.
What's sustainable - and what isn’t?

With:
@BitcoinPierre
@markus10x
@AlexandreLaizet
@GaryCardone

Set your reminder now: https://t.co/LUvimpSZh0

[Yadox @Yodaskk]

Now that $dogi, the First token on Doge, is back fully onchain, it reclaimed its crown as biggest and leader of drc20 in 1 day.

I think the entire ecosystem will have massive gains, following $dogi as the leader and 1st token On Doge

[Cointelegraph @Cointelegraph]

🇩🇪 BREAKING: Deutsche Bank will launch a crypto custody service in 2026.

[Senator Cynthia Lummis @SenLummis]

WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE 🇺🇸 🇺🇸 🇺🇸

[Murad 💹🧲 @MustStopMurad]

If you're going to watch ONE video during this Memecoin Supercycle... Watch this.

2025 will be the Year where Memecoins go Parabolic.

Watch this Video to Understand Why.

[Morgan J. Freeman @mjfree]

THIS WINS THE DAY!!!! https://t.co/Lk2PJeFByd

[Its Time to MAHA @MAHAAmericaW]

WATCH RFK exposes the TRUTH about Ukraine in 3 minutes