According to CoinPost, JPMorgan Chase CEO Jamie Dimon warned in the latest shareholder letter that the private credit market faces losses exceeding expectations as the credit cycle turns, due to lax underwriting standards and lack of transparency. Currently, the default rate on US private credit has surged to 9.2%, with several Wall Street giants facing over $19 billion in redemptions in Q1 2026 and having restricted withdrawals. However, Dimon believes that this market will not trigger systemic risk for now. Japanese media analysis suggests that if the crisis worsens and prompts authorities to adopt monetary easing policies, funds may shift into cryptocurrencies like Bitcoin in the medium to long term.

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