📈Roach Season: Two big US firms went bust this week, forcing JPMorgan to eat a $200M loss. CEO Jamie Dimon wasn’t exactly calming nerves either, calling them the “first cockroaches” of the private credit world to go. Unsurprisingly, US investors didn’t love that and US bank stocks took a ~3% hit across the board.

🌎A War on Drugs: Following the US bombings of several Venezuelan boats allegedly smuggling cocaine, Trump ordered the US military into the Carribean and authorised CIA operations in Venezuela (all on-air). Whether this forces Nicolas Maduro (who’s considered a dictator internationally) to resign, only time will tell.

👔A Fruity Twist: Originally it was FAANG (Facebook, Apple, Amazon, Netflix and Google), then the Magnificent 7. Now with the rise of AI, financial markets have started to embrace a new moniker: “MANGO” (Microsoft, Anthropic, Nvidia, Google and OpenAI).

🤪Accidently Doubling the World’s GDP: Paypal’s stablecoin partner, Paxos, accidently minted $300 trillion PYUSD in an internal glitch. Since each PYUSD is backed 1:1 with the US dollar, that would’ve theoretically required more than double the world’s total GDP. Thankfully Paxos realized fast and burned the Monopoly money before things got weird.