For decades, China exported deflation by flooding the world with cheap manufactured goods. Now it may be exporting something else: oil stability. China spent years building a 1-billion-barrel strategic petroleum reserve while energy markets were calm. As the rest of Asia scrambles for crude, Beijing can afford to buy less. That's one reason oil hasn't exploded higher. Council on Foreign Relations fellow Brad Setser recently called China "the new central bank of oil," arguing its stockpiles may have helped spare the U.S. and Europe from a much larger energy shock. The irony is that China's biggest contribution to global oil markets right now may be the oil it isn't buying.

Crypto Weekly Roundup: If you’re only watching price, you’re missing the story. This has been one of the most sustained drawdowns I’ve seen in 10+ years in crypto, and yet it's not all bad: Tokenization & RWAs: Real-world assets are climbing even as prices slide. Tokenized stocks + fresh VC flowing into onchain finance show capital is rotating, not disappearing. Bitcoin ETFs holding the line: Despite recent outflows, spot BTC ETFs still sit on ~$53B in cumulative inflows. Institutions haven’t left — they’re consolidating. Miners pivot to AI: With hashprice pressure mounting, miners are chasing ~30 GW of AI-focused capacity. Compute is the new hedge. Stablecoins go mainstream: Crypto rails are merging with TradFi — stablecoin settlement now sits alongside ACH and wires.

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He's Lebanese Canadian. He was brilliant.

Anna, which forward looking indicator are you referring to?

Amazing panel. @WilliamEQuigley shared some gems.

It was a blast. Thank you, Janelle!

I'll be on stage with Coinbase's @ShanAggarwal next month in Miami. My fifth Futurist Conference is shaping up to be the best one.

Schiff's lawyers must have intervened.

Gov’t subsidies were the reason Tesla became profitable. Yet those never seemed to draw DOGE’s scrutiny — nor did the trillion-dollar defense budget or the relentless growth in gov’t spending. Instead, he fixated on tiny budget line items as Trump ramped up Pentagon funding.

Great insights from Ledn's @cryptonomista

Don't forget to take profits this time, anon.

Landed in Dubai.

Last week in crypto: - Trump crypto council head suggests selling gov’t gold certificates for Bitcoin - Stablecoin bill is “imminent,” with crypto market structure bill to follow - Rep. Khanna says ~80 Dems support stablecoin legislation - SEC confirms PoW coins aren’t securities

Because the "sentiment," i.e., Crypto Twitter, doesn't own much Bitcoin and is knee-deep in altcoins. As a Bitcoiner, this has been the best 12 months of my financial life.

OK, I wrote my first Bitcoin article in ~2012 and I’ve been in this market since 2016. This is the craziest weekly candle I’ve ever seen.

His analysis of Syria blew me away. This was 4 weeks ago. I haven’t stopped thinking about it since.

Max's moral compass is never compromised.

A life well lived. Have a blessed 2025.

They also conflate “concealing one’s religion due to intimidation and persecution” with “practicing a secret religion.” There are no secrets in Islam. Anyone can learn about it from actual Muslim sources (Shi’a or otherwise).