★The slow-motion ‘bank run’ in private credit

"The integration of crypto assets into private credit markets introduces systemic risk by extending leverage and rehypothecation across opaque loan books, potentially amplifying future liquidity crises. This convergence could trigger significant capital reallocations as institutions reassess counterparty risk and regulatory scrutiny intensifies on interconnected financial products. Such developments challenge existing market structures and demand proactive risk management from portfolios exposed to alternative credit and digital asset strategies."