Arunights · Research

Research

Original quantitative research on counterparty and collateral risk in tokenized real-world-asset markets.

Forensic TeardownJune 20, 2026

The Stream Finance Collapse: A Forensic Teardown

How a yield-bearing synthetic dollar lost its peg in November 2025 — and why four of five structural risk channels were publicly flagged before it did. A provenance-tagged forensic analysis.