Craig Lurich - Buzzberg

Date	Ticker	Direction	Thesis	Source
Feb 14, 2026	DEFI YIELD FARMING	AVOID	Craig states that yields above 20% in the current market are the "danger zone" and compares them to the collapse of Anchor Protocol. The demand for leverage has cooled. Therefore, any protocol offering >20% APY is likely subsidizing it with inflationary token emissions or taking on opaque, catastrophic risk (like uncollateralized lending). Sustainable yield is currently <10%. Avoid or Short protocols promising "too good to be true" yields (>20%) as they are likely structurally unsound. A sudden bull market mania could temporarily sustain high yields through Ponzi-nomics, squeezing shorts.	The Block BlackRock buying UNI and other DeFi updates, ...
Feb 14, 2026	COIN /CEXS	WATCH	Chaos Labs is powering "Kraken Earn" using on-chain vaults to provide yield to Kraken users. Centralized Exchanges (CEXs) are pivoting from simple trading venues to "DeFi Mullets" (Fintech in the front, DeFi in the back). They are integrating on-chain yield directly into user accounts. This benefits the exchanges (retention) and the underlying DeFi protocols they utilize. Watch CEXs (like Coinbase/Kraken) for increased earnings derived from "Earn" products as they capture DeFi yields for retail users. Regulatory crackdowns on "Earn" products (similar to the SEC vs. Gemini/Genesis).	The Block BlackRock buying UNI and other DeFi updates, ...