Digital Credit, Jane Street, and the Next Bitcoin Bull Market

Digital credit and bitcoin-backed money are emerging as a new foundation for global finance, offering yield, transparency, and programmability. In this episode, Parker from APYX explains how this system works, why it is gaining traction, and how it could drive the next wave of bitcoin adoption.

Timestamps:

0:00 Intro

0:33 What is digital money and digital credit

3:01 Parker’s background: from Austrian economics to bitcoin

6:18 Early career, Kraken, and DeFi experience

7:07 Why bitcoin-backed stablecoins matter

10:01 Where yield comes from in digital credit and money

11:27 What APYX is and how it works

15:44 DeFi yield demand and carry trades explained

19:01 Why capital hasn’t fully moved from Athena to APYX

21:38 October crash and Ethena’s role

23:07 Stablecoin depegs and market mechanics

25:10 How APYX maintains its peg

27:46 Floating vs hard pegs (STRC comparison)

28:23 Luna comparison and key differences

31:07 Why digital credit must scale for digital money

33:16 Private credit vs digital credit

35:27 Blockfills bankruptcy and market stress

37:04 Impact of bitcoin ETFs on market structure

40:11 Offshore vs onshore price discovery

41:38 Why bitcoin is trading around $70K

46:31 Derivatives vs spot market imbalance

47:11 Will digital credit drive bitcoin demand

50:13 Why yield products unlock new bitcoin demand

51:39 Where to learn more about APYX