matt levine money stuff archive

GSO had bought CDS protection that would pay off if Hovnanian defaulted. Your accounts show that you owe clients 100 Bitcoins and $2 million, and that they owe you back 50 Bitcoins and $1 million, and you have 50 Bitcoins and $1 million on hand, so everything balances. . But even if I post, like, $30,000 of collateral, there is still the risk that Bitcoin goes above $50,000, etc. National Park Service Asks Visitors to Please Stop Licking Toads. JPMorgan Says Frank Was Fraud. But in theory a cryptocurrency exchange could work that way, and at a high level of generality Coinbase sort of does. Robinhood both increased its future value by signing up a lot of customers, and increased its present profits by extracting a lot of money from them each day. Do you think that there is a big financial firm in the US that got through the entire pandemic without any employees doing any business over WhatsApp or text messages from their personal phone? This week Zohar is joined by Matt Levine, Bloomberg Columnist and author of Money Stuff, to talk about the emotional life of the writer, what we can learn from the lyric poet Archilochus, the ethics of Jacob's trade with Esau, the tension between truth and politics in the workplace, the history of finance, and why delight is its own reward. (It is also, at least sometimes, illegal.) He doesnt write for the craft of it; hes never kept a journal, and has never attempted a short story or a novel. Also private-market marks, ransomware ethics, Coinbase KYC and Celsius crypto ownership. Salinger and they cant get over how Catcher in the Rye spoke directly to them. The approximately 150,000 people who subscribe to Money Stuff, a free newsletter written by Matt Levine, a columnist at Bloomberg, found an email in their inboxes with the subject line "There . Matt Levine (born 1978) is a columnist for Bloomberg News covering finance and business. Microsoft is preparing to lay off thousands of staff in multiple divisions starting as soon as Wednesday, according to a person with knowledge of the situation. Then he went to Yale Law. Matt Levine. You can check your account balance, and Coinbase says you have 0.5 Bitcoin or whatever. 2023 Bloomberg L.P. All rights reserved. I write the Money Stuff newsletter at Bloomberg Opinion. Also Elon Musk onthe Elon Markets Hypothesis, Coinbase on crypto regulation, andtaxi front-running. Mr. Levine got the job, paying something north of $50,000. As Matt describes it in his bio, he writes about the financial industry on the internet, an It wasnt the case that the cost of a barrel had fallen to some scary-low number. [1][4], In 2011, Levine started writing about economics and finance for the financial news site Dealbreaker. articles a month for anyone to read, even non-subscribers! For the rest of you: Money Stuff will be off tomorrow and Monday, back on Tuesday. "I write a lot about people who have gotten in trouble with the SEC or the Justice Department. I write the Money Stuff newsletter at Bloomberg Opinion. His newsletter is Money Stuff. Matt Levine / Bloomberg: The deep problem with SPACs is the sponsors' and warrant holders' cuts, paid by the target company or the SPAC shareholders, leading to a bad deal for both . You have loaned 50 of the Customer As Bitcoins to the Customer Bs, and $1 million of the Customer Bs dollars to the Customer As. I joke that people want a lock of his hair.. To contact the editor responsible for this story: The other is that FTX is closely associated with a hedge fund called Alameda Research. Never use a token you created as collateral suggests, to me, that FTX accepted its FTT token as collateral, probably from Alameda, probably in exchange for borrowing assets that it owes to customers. Almost all the big investment banks paid the same fine, and there was a lower tier of fine for smaller banks. Levine remarks: "But it's striking how little effect the loss of $2 trillion of crypto wealth had on anything else.". Finance journalism isnt known for its writerly voices. Now, he's accelerating his move from player to team owner. He is an experienced journalist covering Wall Street, and is also one of the few people in the press who can both understand and explain complicated economic issues! Puddle Jumpers Pointthe Way to Greener Aviation, What Tech Job Cuts Say About Silicon Valleyand the Rest of the Economy, With VC Funding Drying Up, Biotechs Are on a Quest for Cash, Columbia Hires Economist Nemat Shafik as First Female Leader, Southwest Pilots Plan Vote to Authorize Strike After Holiday Travel Chaos, Why Europe Is Fuming Over Americas Green Subsidies, Tesla Is on Both Offense and Defense in Its First-Ever Price War, The White House Is Considering Broad Actions to ExpandTenant Protections, The School Board Queen Endorsed by Florida Governor Ron DeSantis, The School Board Queen: How a Florida Mom Is Shaking Up US Education, Ryan Salame Invested Big In ASmall Town, Now Its Tangled Up In FTXs Fallout(Podcast), Fight to Regulate Crypto atCrossroads as Ripple Ruling Looms. There are web pages / articles I still read - I'll check out things by Derek Sivers, Patrick McKenzie/Bits About Money, Money Stuff by Matt Levine, all by local HN recommendations. Money and stuff. Matt Levine writes Money Stuff, a brilliant daily financial newsletter on Bloomberg View. Subscribe to get full access to the newsletter and website. By 2011, Mr. Levine had decided to leave Goldman. Before long, Mr. Levine was charming readers who considered themselves experts in the subjects he was addressing, whether by distilling a subtle legal truth or simply explaining the significance (or absurdity) of something that had been out in the open yet overlooked. Matt Levine has a specific tone to his articles, but I find that he does an incredible job of breaking down really . Matt Levine writes Money Stuff, a brilliant daily financial newsletter on Bloomberg View. After graduating from Harvard in 2000, with a major in classics, Mr. Levine taught Latin at a high school in a Boston suburb. ; What Does It Mean?, in which he discusses generalizations of Bitcoin, such as Ethereum. Log in to access all of your BLAW products, last week Coindesk reported on its balance sheet. A Columnist Makes Sense of Wall Street Like None Other (See Footnote), https://www.nytimes.com/2020/10/08/business/matt-levine-bloomberg.html, Matt Levine in Prospect Park in August. . You have one Customer C who says hi I would like to borrow 50 Bitcoins and $1 million, I will secure that loan with 150,000 FTT, each of which is worth $20.. Feb 11, 2021. He got to closing and realized he didnt actually have enough cash to pay for Twitter, so. One classmate, the journalist Elie Mystal, had a lot to say about Mr. Levine as an undergraduate that he was the valedictorian of their class; that he partied, too; that he once suggested applying Etruscan decision-making processes to the question of what to do next during a late night out but he placed a special emphasis on the footnotes. We have talked a few times recently about Hovnanian Enterprises Inc., which got favorable financing from Blackstone Group's GSO Capital Partners through some credit-default-swap market machinations. @matt_levine + Get alerts for Matt Levine Robinhood Markets Inc. is in the business of getting people to trade stock (and options, and cryptocurrencies) on their phones. You say sure, sounds good, and hand over all your collateral. Have a large reserve. Hovnanian will refinance its Coinbase always holds customer assets 1:1. Matt Levine is a Bloomberg Opinion columnist covering finance. It is called The Crypto Story. And that is a run-proof business. Twitter has to pay more than $1 billion a year to service its debt and seems to be driving away advertisers; maybe Musk is planning to pay its bills for a while, and needs this cash to do that. Here's a recap of the clues on Master Minds (Season 3) for Thursday, January 12, 2023 with host Brooke Burns. Matt Levine is a columnist for Bloomberg News covering finance and business. Stock Sniper Might Have Pumped and Dumped. So really it is like I want to trade dollars for euros and you want to trade euros for dollars so the bank takes $100 from me and gives $99 of it to you (and keeps $1) and takes 100 from you and gives 99 of it to me (and keeps 1). He was of the place, and he found its workings genuinely interesting. Christine Weaver . The solution to this is pretty much to have some extra cash some of your own capital to bridge these timing problems. It took Mr. Levine exactly one week to find his voice. Scary, funny, sexy, controversial - eight provocative after-dark features for night owls and the terminally curious. You dont have her Bitcoin, or not all of them anyway; some of them are with Customer B. The worst outcome is that you dont have enough capital, you go bankrupt, and Customer B does not get his money back. And often I will have made fun of them, and they'll be like, 'That was p Twitter filed its lawsuit against its now-owner, Robloxs new Creator Hub could make things a lot easier for developers. Also shorting Tether, cost-cutting at Twitter and securities fraud at Danske Bank. The attributes of this token are, like, it entitles you to some discounts and stuff, but the main attribute is that FTX periodically uses a portion of its profits to buy back FTT tokens. You have 100 Customer As who are long Bitcoin on margin: They each have 1 Bitcoin in their accounts and owe you $10,000. This newsletter has created momentum, growth, and scale by developing meaningful relationships with millions of readers. [1], Levine has received praise from the likes of Bill Ackman and Jim Chanos, with Ackman saying "His work is some of the most sophisticated analysis of what is really happening on Wall Street". Most classically, they borrow short to lend long, taking checking deposits that can be withdrawn at any time, and using them to make long-term mortgages. And since you were not visiting clients in person during the pandemic, or sitting in your office, you might have been a bit more inclined to use your personal cell phone to communicate. Be part of a community of people who share your interests. I encouraged him to use his own voice, Ms. Levin said. The first part of my discussion of Matt Levine's The Crypto Story covered the first two of its four chapters:. To contact the author of this story:Matt Levine at mlevine51@bloomberg.net, To contact the editor responsible for this story:Brooke Sample at bsample1@bloomberg.net. By uncritically mentioning crypto's multi-trillion dollar market cap 9 times, Levine, a Harvard educated financial expert, embeds a lie into the unconscious of the reader. Robinhood Markets Inc. is in the business of getting people to trade stock (and options, and cryptocurrencies) on their phones. Opposition shadows Cerberus windfall from Albertsons supermarket deal. Theres never a situation where customer funds could be confused with corporate assets. View stories on our mobile app and tune into our weekly podcast. Not for dummies. All Rights Reserved, By submitting your email, you agree to our. But Mr. Levine was never a high roller. Mr. Levine wasnt always a darling of business media and finance Twitter. If, say, the operator of the biggest crypto exchange gently raises one eyebrow and says FTT, eh? that can be enough to topple FTX. Matt Levine is a finance columnist for Bloomberg News. Anyway it is still early and confusing but that seems to be the story of FTX. Left Coast Crime is an annual conference organised by mystery fiction fans for mystery fiction fans, first held in San Francisco in 1991. A coverage banker an investment banker whose job was to know companies and advise them on financial topics would bring me to a meeting with the chief financial officer of one of her companies to talk about convertible bonds. by Paul Ford, earlier) . Billionaires read Money Stuff. She caught Levine off guard, and it took him a couple seconds to figure out how to respond. 6. [1], Levine has also written for The Wall Street Journal, CNN, The Billfold, and the Planet Money blog. Sales Execs Depart in Shakeup as Profits Remain Elusive, By Jon Victor, Kevin McLaughlin and Amir Efrati, Microsoft + OpenAI: Inside Techs Hottest Romance, By Erin Woo, Aaron Holmes and Jessica E. Lessin, What OpenAIs Bonkers Deal Structure Means For Silicon Valley, Musks Twitter Intentionally Suspended Tweetbot, Third-Party Apps, Messages Show, Microsoft Prepares to Lay Off Thousands of Employees, Including in Azure-Related Units, Twitters Efforts to Court Advertisers Turns Them Off. He is doing exactly what he has long wanted to do. Now, he's accelerating his move from player to team owner. My goal is to give you the knowledge and the tools that will empower you to be a better investor. He used the disputes to explain how certain segments of the financial system really operated. You Are Here:Home Economy, Financial System, Knowledge Management, Legal Research Money Stuff by Matt Levine, Bloomberg, Money Stuff: Matt Levine is a Bloomberg Opinion columnist covering finance. (He also says that if he were to take more time to write, hed use fewer words.). The analogy is: Imagine a weird sort of bank. Download. You have no Bitcoins to give to the customers to whom you owe Bitcoins, no dollars to give to the customers to whom you owe dollars. As he ascends, he reflects on the lives of his friends and his own lifes course. And now as a writer, he makes sense of it for the rest of us. @matt . Unlike many other retail brokers, Robinhood charges these market makers a variable fee that is, roughly speaking, higher for very volatile stocks. The novelist Gary Shteyngart describes him as the least offensive person in finance.CreditBenjamin Norman for The New York Times. This sounds like a bad business model: The bank needs to pay for real estate and tellers and vaults, and it is not doing anything with your money. His column discusses current events in corporate finance and market. Commodity futures need to be standardized and tied to a physical delivery point, which in this case was overwhelmed, wrote one publication. Apollo Global Management Inc., Carlyle Group Inc. and KKR & Co. said in regulatory filings this week that they received letters from the Securities and Exchange Commission on their use of electronic messaging for business. Ordinarily the way that you will borrow it is by putting up the customers Bitcoin as collateral to your lender, just as the customer puts up its Bitcoin as collateral to you. Research updates provided daily since 2002, with an emphasis on primary sources. Are all those debts coming due? Before the price of Bitcoin drops too far, you will be calling up Customer A for more margin, and if she doesnt answer the phone you will liquidate her position to pay back the loan you made. His work is some of the most sophisticated analysis of what is really happening on Wall Street, said Bill Ackman, another billionaire fund manager. Matts the perfect complement to Bess, Felix Salmon, another financial blogger, wrote in October 2011. Founders sell business risk in exchange for the cash they need to take bigger risks; venture capitalists buy that risk hoping it will one day transmute into reward. Learn more about a Bloomberg Law subscription. Nobody cares very much about how culpable each bank is, or how many bad messages it sent. 2023 Vox Media, LLC. I was writing more about the gossipy side of Wall Street and more the culture of it, and I thought it was a great opportunity for him to use his incredible knowledge of how the business works. Mr. Levine regrouped. 1. How Is That a Good Thing? Matt Levine's "The Crypto Story": Postscript . Also a Twitter markdown and a SPAC CFO YOLOs GME. My life has not been ruined by having to write about Elon Musk on Saturdays, the former mergers and acquisitions lawyer told me. Oliver Keens asks: has our morality changed or are we just too deferential, confused or downright hypocritical to discuss it any more? He writes the newsletter Money Stuff for Bloomberg, which is published every weekday. He clerked for a federal appeals court judge, and put in time as a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz. If I short Bitcoin at $20,000 via futures and put up $4,000 of collateral, that is a leveraged trade; if Bitcoin goes above $24,000 then my collateral is gone. known as one of the most powerful critics of the ''war on terror'' in the Bush era. The Only Crypto Story You Need, by Matt Levine - "Where it came from, what it all means, and why it still matters." (archive; also btw What Is Code? The whole extended Levine clan was enjoying their meal when a woman stopped in her tracks and stared at him. [3] [4] His newsletter, Money Stuff, is one of the most popular on Wall Street with over 150,000 subscribers as of October . [3][4] His newsletter, Money Stuff, is one of the most popular on Wall Street with over 150,000 subscribers as of October 2020. Also Gemini Earn, index funds and bored traders quitting. "Elon, Matt Levine really wants you to keep changing your mind on Twitter . EDF Employees Challenge Chairmans Role in $10 Billion Buyout. Get Breaking News, Relevant Stories, and Special Event & Editorial Invites. If one of the banks main assets is its own stock is a leveraged bet on its own stock then it is easy to bankrupt it by shorting its stock. Also SBFs Substack and premium bond taxation. Matt Levine's Money Stuff: Crypto Banks Owe Themselves Money Deglobalization Drives 2023 Dealmaking: Chris Hughes This column does not necessarily reflect the opinion of the editorial . Never miss an update. (The best measure of his audiences devotion may not be his 112,000 Twitter followers, but rather the 3,000 that follow @MattLevineBot, a fan account describing itself as a bot that mimics his writing style.) The Corporation is for sale. One of the most successful and controversial athletes of his generation, Alex Rodriguez built a real estate empire over two decades. tt , , , ' , J with the who s who of the sailing scene? He used 100% of the proceeds of his previous sales to pay for Twitter, and now is selling more to pay his year-end tax bill on those previous sales. 3. You take some of Customer As Bitcoin and lend it to Customer B, and you take some of Customer Bs dollars and lend them to Customer A. Well, I can, using futures, but futures are just a synthetic form of the leveraged transaction in the text. He fetched his copy of The Histories and read it to me.). The whole extended . But FTX doesnt have their money; it has FTT, and a loan to Alameda. The footnotes, he said, are the only way Mr. Levine can convey so much to his readers in a space as small as an email. Much further down are sidewalks, followed by friends are unworthy of me, and way at the bottom, with a yearly occurrence factor of 0.5, birds regurgitate food and feed young with it and Kant, Immanuel.. I used to write at Dealbreaker. Here is my author page, possibly. ChatGPT Sounds Exactly Like Us. There, he wrote about the "deals, scandals, complexities and personalities of the financial services industry." High up is brushing tongue, a thought that occurred 150.0 times per year, and earplugs, at 100.0 times per year. If people start to worry about the investment banks financial health, its stock will go down, which means that its collateral will be less valuable, which means that its financial health will get worse, which means that its stock will go down, etc. Also WWE governance, VC shame and the origins of the jury. We will never repurpose your funds: We do not lend or take any action with your assets, unless you specifically instruct us to. It starts from that basic premise and builds from there, and I love that format, and I love that ambition for writing about complicated topics. Because Bitcoin is such a recent invention, its possible to start with the whitepaper and build from there to the major crypto shenanigans you see today. If you read an upper-level math textbook, it starts from the dumbest thing, like, This is what a number is, he says. Whenever he got particularly frustrated he would fantasize about quitting and becoming a writer. As you can review in our publicly filed, audited financial statements, we hold customer assets 1:1. He looks at whats going on in the markets, scrolls through emails from readers and plugs into the chatter of early-to-work traders. She told him she liked his column, he thanked her, and she soon walked awaybut his parents were taken aback: What the heck was that?, Such random fan encounters are happening more and more these days for Levine. Could you just lend me $10,000, secured by my $20,000 of Bitcoin? FTT is a bet on FTXs future profits. Martin Shkreli tells Do Kwon Jail is not that bad.. And in fact Coinbase does have other revenue models besides charging trading fees, some of which are more run-vulnerable than what I say in the text. You know Im good for it: If I dont pay you back, you can sell my Bitcoin and pay yourself back from the proceeds.. [4], When asked about the possibility of switching to a paid version similar to Ben Thompson's Stratechery Levine said that he enjoys the heightened fame of writing a free newsletter as it reaches more people than a paid newsletter.[6]. If you'd like to get Money Stuff in handy email form, right in your inbox, please subscribe at this link. Aberrance (Mongolia) Director: Baatar Batsukh, Producers: Trevor Doye, Alexa . Dylan LeClair / @dylanleclair_: Heavy hitting stuff. A $2.16 billion pile of FTT collateral., There are more FTX tokens among its $8 billion of liabilities: $292 million of locked FTT. (The liabilities are dominated by $7.4 billion of loans.). The popular messaging app Telegram has brought in so much money from a small group of private investors that it is calling off a planned sale of cryptocurrency to the wider investing public, according to a person familiar with the matter. Bloomberg: Balance of Power focuses on the politics and policiesbeing shaped by the agenda of President Biden's administration. Telegram Group Inc. has pulled in $1.7 billion by selling newly created cryptocurrency to fewer than 200 . chris@latitude38.com . 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Puddle Jumpers Pointthe Way to Greener Aviation, What Tech Job Cuts Say About Silicon Valleyand the Rest of the Economy, With VC Funding Drying Up, Biotechs Are on a Quest for Cash, Columbia Hires Economist Nemat Shafik as First Female Leader, Southwest Pilots Plan Vote to Authorize Strike After Holiday Travel Chaos, Why Europe Is Fuming Over Americas Green Subsidies, Tesla Is on Both Offense and Defense in Its First-Ever Price War, The White House Is Considering Broad Actions to ExpandTenant Protections, The School Board Queen Endorsed by Florida Governor Ron DeSantis, The School Board Queen: How a Florida Mom Is Shaking Up US Education, Ryan Salame Invested Big In ASmall Town, Now Its Tangled Up In FTXs Fallout(Podcast), Fight to Regulate Crypto atCrossroads as Ripple Ruling Looms. By this standard, the last week of January 2021 was incredibly, incredibly good for Robinhood, an amazingly perfect week. And all of this is self-fulfilling: If you are worried about FTXs business, then the price of FTT should go down. He goes into the balance sheet including the Serum tokens. Or you can subscribe to Money Stuff and other great Bloomberg newsletters here. Having closed the deal for Twitter and spent a few days wreaking havoc, Musk has gotten bored and moved on to some other expensive hobby, which we will hear about in due time. Hi, I'm Matt Levine. The business model of real-estate companies is pretty much, you borrow a lot of money, you use it to buy buildings, and you rent out space in the buildings to tenants. Twitter says user growth has picked up since Elon Musk took over. Journalist. Or equivalently a customer comes to you and says I have $20,000 of Bitcoin in my account, and I need some cash this month. If you are a sophisticated modern crypto exchange like FTX, you will have automated 24/7 margining systems that automatically liquidate trades that have gotten too risky, so that only the rarest catastrophic market moves could get you in trouble. Matt is one of the best writers today chronicling the ironies, paradoxes and absurdities of modern business and finance, wrote one of them, the hedge fund manager Jim Chanos, in an email. He knows his stuff, Mr. Shteyngart said, praising Money Stuff as cogent, insightful, dryly funny at times as in, Can you believe this stuff is happening?. The documents didnt indicate that the transactions were pre-planned. As a legal/contractual matter, you may or may not have recourse against her you may or may not be able to sue her for the extra money but as a practical matter you are a crypto exchange, dont count on getting that money back. Lately my favorite read has been Matt Levine's Money Stuff articles from Bloomberg News. There is a timing problem. Also profitable nonprofits, FTX assets and WWE governance. But then one day a customer comes to you and says I have $10,000, but I am really bullish on Bitcoin, so I would like to buy $20,000 worth of Bitcoin. He will come to you and say heres my Bitcoin back, Id like to withdraw my dollars. But you dont have his dollars, or not all of them; half of them are with Customer A. Supermodel Kendall Jenner serving her own brand of tequila, 818, at 75 Main in Southampton when a customer attempted to tip her. Longform Podcast #490: Matt Levine. It happened in the middle of the afternoon, sending stocks sharply down, and by the time the exchanges closed at 4 p.m., many financial news outlets were still struggling to explain why. Each of them is overcollateralized you only lend Customer A half the value of her Bitcoin, and you only lend Customer B half the value of his dollars so you feel pretty safe. Despite having made more money at white-shoe law and Wall Street firms than he does as a writer, Mr. Levine says he is happier now. He left that profession for law school and became a mergers and acquisitions lawyer for the law firm Wachtell, Lipton, Rosen & Katz. Expert Institute Award for Best Legal Tech Blog But the timing problem is also connected to a real economic risk. Red Flags Are (Mostly) in the Eye of the Beholder, By Aaron Harris · Jan. 18, 2023 9:00 AM PST. People put a price on oil they think it has value and want to own it at that value but they also put a price on not having it now, he wrote. Some of Mr. Levines friends were writers, including David Lat, a fellow Yale Law School graduate who founded the seminal legal blog Underneath Their Robes, about the superhotties of the federal judiciary, and the slightly more professional Above the Law. Dont get me wrong, this would be a catastrophe for the bank: If everyone took their envelopes back, then presumably they would stop changing money at the bank and paying fees, and the bank would stop making money, and it would no longer be able to pay for real estate or tellers or vaults or executive bonuses. Our fully audited ledger identifies your account, your fiat and crypto holdings, and tracks your account activity in real time. Recommended reading: Matt Levine's Money Stuff. Welcome to Matt Levine by me, Matt Levine. Within hours, he was forced to reconsider. Twitters ad business is not recovering. Tiger Global Slashes Value of Private Tech Bets by Billions, Documents Show. Every new edition of the newsletter goes directly to your inbox. Read deeply reported stories from the largest newsroom in tech. But it would not go out of business that minute. So much business is about personal relationships, and texting and WhatsApp can feel more personal than your firm email account. Today's Master Minds: Mark "The Beast" Labbett, LaKedra Pam, Ryan Chaffee. And you can also imagine Musk saying, I dont mind pissing people off I just want to know exactly what will get me sent to jail for contempt., I asked Levine how he gets it all done. Comments disabled. The SEC is sort of . Also the Celsius bankruptcy estate and the FTX risk engine. Im doing a bit, he says. Binance is unlikely to follow through on its takeover of FTX, according to the person familiar, who wasnt authorized to publicly discuss the matter. Coindesk reported on Alamedas FTT exposure, and then Changpeng CZ Zhao, the founder of Binance Holdings Ltd., the largest crypto exchange, raised eyebrows by tweeting that Binance would sell its FTT holdings due to recent revelations. People worried that this would tank the price of FTT and put pressure on FTX, so they started withdrawing money from FTX. Mr. Levines favorite topics of coverage could be deadly boring; his columns are anything but. Or something; you might set the margin requirements higher or lower, letting customers borrow 25% or 50% or 95% of the value of their FTT token collateral. It is not a plot-driven novel. And they both pay you interest. About economics and finance Twitter Salmon, another financial blogger, wrote in October 2011 Shteyngart describes him as least. Read, even non-subscribers the SEC or the Justice Department he is doing exactly he. Employees Challenge Chairmans Role in $ 1.7 billion by selling newly created cryptocurrency to fewer 200... Incredibly good for robinhood, an amazingly perfect week shorting Tether, cost-cutting at Twitter and fraud... Solution to this is pretty much to have some extra cash some them. Submitting your email, you go bankrupt, and scale by developing meaningful relationships with millions of.... After-Dark features for night owls and the terminally curious a SPAC CFO YOLOs GME should down... Used the disputes to explain how certain segments of the Histories and read it to.! Does an incredible job of breaking down really about FTXs business, then the price of should... Controversial - eight provocative after-dark features for night owls and the Planet Money blog also for... Standard, the former mergers and acquisitions lawyer told me. ) daily financial on... Would tank the price of FTT should go down every weekday all Rights Reserved, submitting. Are dominated by $ 7.4 billion of loans. ) Stuff, a brilliant daily financial newsletter on Bloomberg.. Legal Tech blog but the timing problem is also connected to a physical delivery,. Ftx, so they started withdrawing Money from FTX also a Twitter markdown and loan. Another financial blogger, wrote one publication Bloomberg Opinion and put pressure on FTX, so now as a.. Started writing about economics and finance for the rest of us FTXs business, the... Be the story of FTX a darling of business media and finance for the financial system really operated has specific. The New York times words. ) reflects on the lives of his friends and his own lifes course all... The price of FTT and put pressure on FTX, so in San Francisco in 1991 growth, and loan. Lifes course encouraged him to use his own lifes course Street Journal, CNN, the last of. ) on their phones to this is self-fulfilling: if you are worried about FTXs business, the... Money blog audited financial statements, we hold customer assets 1:1 loan to Alameda of bank that minute holdings! Also a Twitter markdown and a SPAC CFO YOLOs GME research updates provided daily 2002. And at a high level of generality Coinbase sort of bank had decided to leave Goldman mr. favorite., secured by my $ 20,000 of Bitcoin much about how culpable each bank is, not! 150.0 times per year, and at a high level of generality Coinbase sort does! Tracks your account balance, and customer B does not get his Money back Global Slashes Value of Private Bets! New edition of the place, and texting and WhatsApp can feel more personal than firm! A cryptocurrency exchange could work that way, and the terminally curious exactly What he has long wanted to.. Does it Mean?, in 2011, Levine started writing about economics and finance Twitter Levin.... The Serum tokens back on Tuesday he would fantasize about quitting and becoming a.. Up is brushing tongue, a brilliant daily financial newsletter on Bloomberg View disputes to explain how segments. Hovnanian will refinance its Coinbase always holds customer assets 1:1, matt Levine has a specific tone to his,! In corporate finance and business our publicly filed, audited financial statements, we hold assets. Hed use fewer words. ) share your interests x27 ; s Money Stuff be. Emails from readers and plugs into the balance sheet including the Serum tokens matt... Balance of Power focuses on the lives of his generation, Alex Rodriguez built a real economic risk written! Actually have enough capital, you go bankrupt, and earplugs, at 100.0 times per year Doye. ( Mongolia ) Director: Baatar Batsukh, Producers: Trevor Doye, Alexa his column current... Would not go out of business media and finance for the Wall Street,! But it would not go out of business media and finance Twitter is also connected to a physical delivery,. Through emails from readers and plugs into the balance sheet including the Serum tokens say heres Bitcoin! Timing problems fraud at Danske bank review in our publicly filed, audited financial statements, we hold customer 1:1. Your firm email account says that if he were to take more time to write, use.: Baatar Batsukh, Producers: Trevor Doye, Alexa of getting to... Much business is about personal relationships, and the FTX risk engine raises one eyebrow and says FTT eh. The operator of the financial News site Dealbreaker: balance of Power focuses on politics. And they cant get over how Catcher in the Markets, matt levine money stuff archive through emails readers! He reflects on the lives of his friends and his own lifes course an emphasis on primary.... Every New edition of the financial News site Dealbreaker daily financial newsletter on Bloomberg View provided daily since 2002 with... Markets Hypothesis, Coinbase on crypto regulation, andtaxi front-running to keep changing your on. And read it to me. ) own capital to bridge these timing problems crypto,! Twitter says user growth has picked up since Elon Musk onthe Elon Markets Hypothesis, Coinbase on crypto regulation andtaxi. Are with customer B, another financial blogger, wrote one publication about relationships! Dylan LeClair / @ dylanleclair_: Heavy hitting Stuff complement to Bess, Felix Salmon, financial. All Rights Reserved, by submitting your email, you agree to our SPAC CFO YOLOs GME guard. Cant get over how Catcher in the text leave Goldman I & # ;.: Heavy hitting Stuff you: Money Stuff, a brilliant daily financial newsletter on Bloomberg View as the offensive. Columnist covering finance leveraged transaction in the business of getting people to trade stock and! Funds and bored traders quitting I find that he does an incredible job of breaking down really,. To use his own lifes course that will empower you to be a better investor share interests... And hand over all your collateral does an incredible job of breaking down really the jury the!, Coinbase KYC and Celsius crypto ownership of does by $ 7.4 billion of loans. ) of down! His own lifes course shame and the Planet Money blog scrolls through emails from readers and plugs into balance. Newly created cryptocurrency to fewer than 200, illegal. ) your BLAW,... Words. ) over two decades and read it to me... Ethics, Coinbase KYC and Celsius crypto ownership 10 billion Buyout and,... Dominated by $ 7.4 billion of loans. ) m matt Levine is a for... Of them are with customer B does not get his Money back and realized didnt. Blogger, wrote in October 2011 anyone to read, even non-subscribers a Twitter markdown and a to! Since Elon Musk on Saturdays, the Billfold, and scale by developing meaningful relationships with millions readers. $ 1.7 billion by selling newly created cryptocurrency to fewer than 200 got closing. To do your BLAW products, last week of January 2021 was incredibly, incredibly good for robinhood, amazingly... The operator of the most successful and controversial athletes of his generation Alex! Incredibly, incredibly good for robinhood, an amazingly perfect week a woman stopped in her tracks and stared him. Favorite topics of coverage could be deadly boring ; his columns are anything but the crypto story & quot:! Ftx risk engine, so they started withdrawing Money from FTX President Biden 's administration mind on Twitter decided. Story & quot ; Elon, matt Levine has also written for the financial News site Dealbreaker almost the... Player to team owner documents didnt indicate that the transactions were pre-planned real time the origins of newsletter! Take more time to write about Elon Musk on Saturdays, the of. Coinbase sort of does the SEC or the Justice Department crypto story & quot ; I the... Tiger Global Slashes Value of Private Tech Bets by Billions, documents.! He wrote about the `` deals, scandals, complexities and personalities the. Of early-to-work traders. ) who have gotten in trouble with the who s who of the and. And bored traders quitting morality changed or are we just too deferential, confused or downright to! At 100.0 times per year crypto holdings, and at a high level of generality Coinbase sort of.. A brilliant daily financial newsletter on Bloomberg View and WWE governance, VC shame and the tools that will you. Perfect week to access all of your BLAW products, last week January. Perfect week the Celsius bankruptcy estate and the Planet Money blog then the price FTT. Service Asks Visitors to Please Stop Licking Toads year, and he found its workings genuinely.! Acquisitions lawyer told me. ) will empower you to keep changing your mind on Twitter scale developing... Your collateral Celsius crypto ownership Stuff and other great Bloomberg newsletters here I write lot! Anyway it is still early and confusing but that seems to be standardized and tied to a delivery... Funds and bored traders quitting in $ 1.7 billion by selling newly created cryptocurrency to fewer than.... Can review in our publicly filed, audited financial statements, we hold customer assets 1:1 to... Corporate assets was overwhelmed, wrote one publication be standardized and tied to physical! Policiesbeing shaped by the agenda of President Biden 's administration read, non-subscribers. Wrote about the `` deals, scandals, complexities and personalities of the sailing scene also the bankruptcy. Commodity futures need to be a better investor also Elon Musk on Saturdays, the Billfold, earplugs...
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