matt levine money stuff archive

Are all those debts coming due? To contact the author of this story: Matt Levine at mlevine51@bloomberg.net. Hes a very smart guy who is very much not a lawyer, and that is very fruitful, Levine says. 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. If thats the case, then a crash in the price of FTT will destabilize FTX. If youd like to get Money Stuff in handy email form, right in your inbox, please subscribe at this link. Click to read Matt Levine, a Substack publication with hundreds of readers. 102 Production . One group of news consumers got a more comprehensible take. You come to the bank with $100 in paper bills, and you deposit it in the bank, and the bank takes your paper bills and sticks them in an envelope with your name on it. Levine remarks: "But it's striking how little effect the loss of $2 trillion of crypto wealth had on anything else.". I type really fast! Levine says. Matt Levine is a financial writer I like and he explains (the latest information about) what happened with FTX. You have Customer A who has Bitcoin and wants to borrow dollars, and Customer B who has dollars and wants to borrow Bitcoin. 2016 Bloomberg View O1Z5LV6KLVRT (Bloomberg View) Yahoo!?? . Mr. Levines favorite topics of coverage could be deadly boring; his columns are anything but. All Rights Reserved. There is even an RSS. As he ascends, he reflects on the lives of his friends and his own lifes course. He wants things to work in an engineer-y way, and he butts up against things that run in a lawyer-y way. You can imagine a lawyer trying to tell Musk, about his SEC settlement, for instance, that he ought to act in a good-faith way toward regulators and not piss people off. @matt . The Difference Is That Biden Gave the Documents Back, That Giant Sucking Sound Is theExit From US Stocks, Europe Is Winning the Winter War by Sheer Luck, For Ukraine to Win the Maneuver War, Germany Must Move First. (His column is currently on a parental leave hiatus, and will return this winter.). Research updates provided daily since 2002, with an emphasis on primary sources. He was of the place, and he found its workings genuinely interesting. Three Arrows, FTX/Alameda, bribes and bonuses. but it is a lot like stock in FTX. Often, a significant chunk of the newsletter is devoted to a legal battle between sophisticated counterparties, or a complex financial product. But like they say, . Never miss an update. 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. 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. 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. 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? He said he thinks he might not exist as a writer if he didnt have his audience, if he couldnt sit down on weekday mornings and write his Wall Street exegeses directly for them. / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. It might be a reason for the price of FTT to go down, if you think that Alameda has too much of it and might need to sell it. And so, at 33, Mr. Levine sat down to write. 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. Here is a link. You have 100 Customer As who are long Bitcoin on margin: They each have 1 Bitcoin in their accounts and owe you $10,000. Stay up-to-date. Recommended reading: Matt Levine's Money Stuff. The last time Ilooked at Yahoo, in December, I calculated that the after-tax equity value of its actual businesses, outside of Alibaba and Yahoo Japan, was about $1.7 billion. Realism and the Audiovisual Media is a major and entirely original contribution to contemporary scholarship on realism. 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. [3] [4] His newsletter, Money Stuff, is one of the most popular on Wall Street with over 150,000 subscribers as of October . It would actually have enough money to give all the customers their money back, because it kept all the customers money in their own envelopes the whole time. If everyone knows that you are in this situation that you have a lot of Bitcoin collateral and Bitcoin prices are falling people will expect you to have to liquidate your Bitcoin collateral, so they will expect Bitcoin prices to fall, so they will sell Bitcoin, which will cause Bitcoin prices to fall, which will cause your long-Bitcoin customers to default, which will cause you to liquidate Bitcoin at lower and lower prices, etc., until you are bankrupt. My life has not been ruined by having to write about Elon Musk on Saturdays, the former mergers and acquisitions lawyer told me. You wont have to worry about missing anything. Binance has never used BNB for collateral, and we have never taken on debt. View stories on our mobile app and tune into our weekly podcast. Conceivably, in theory, the latter price (what youd pay to not have oil now) could exceed the former (what youd pay to have oil eventually), leading to negative spot prices.. And a surprising subset of them will email me. EDF Employees Challenge Chairmans Role in $10 Billion Buyout. Clients of WPP-owned GroupM, the worlds largest ad-buying firm, have cut their spending on Twitter by between 40% and 50% since Elon Musk took control of the company in late October, according to people familiar with the matter. 3. Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. 2023 Bloomberg L.P. All rights reserved. Sign up now so you don't miss the first issue. Dont go put all your money in Coinbase because I said so or anything! JPMorgan Says Frank Was Fraud. 1. Has it been borrowing elsewhere against FTT? Eventually youll get the rest of the Bitcoin back from Customer B, but for now you just pay Customer A out of your own Bitcoin stash. There is a timing problem. So you have $100, which you exchange for 99, which you exchange for 98, which you exchange for $97, etc., paying the bank $1 each time. I dont know, but let me speculate a little bit. Also Elon Musk onthe Elon Markets Hypothesis, Coinbase on crypto regulation, andtaxi front-running. Matt Levine would like you to know that Elon Musk does not actually ruin all of his vacations. (Most notably, there *are* loan products. The SEC is sort of . 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. My goal is to give you the knowledge and the tools that will empower you to be a better investor. (Asked about the Etruscans, Mr. Levine said he thought Mr. Mystal might be referring to one of his favorite anecdotes from Herodotus. Dylan LeClair / @dylanleclair_: Heavy hitting stuff. 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 Theres Nowhere to Put the Oil.. Today's challengers: Caroline, Matt, Indra. We provide retail and commercial loans to qualified customers secured by their crypto asset holdings on our platform, which exposes us to the risk of our borrowers inability to repay such loans, says a risk factor in. Levine seems fond of Musk. If everyone is worried about that, they will all take their money out of FTX. Billionaires read Money Stuff. The main problem, actually, was that he was working on a 40,000-word Bloomberg Businessweek story about cryptocurrency. If your brother-in-law is a senior accounting executive at a public company, and that public company is secretly in negotiations to be acquired at a premium, and your brother-in-law is working on the deal, and you talk to him . 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. Also private-market marks, ransomware ethics, Coinbase KYC and Celsius crypto ownership. 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. Used with permission. The lower bound is that they take it and lend it to the Federal Reserve, which is called narrow banking and basically as good as keeping it in envelopes, but which is, I want to be careful to say that I am not an expert on Coinbases business models and do not want to, like, endorse it. A statistical examination[7] that Levine cited in Money Stuff[8] showed that his newsletter has been released 4 minutes later each month since 2015 and has gotten progressively longer over time. 7. The show's format pits 3 contestants against . Martin Shkreli tells Do Kwon Jail is not that bad.. Opposition shadows Cerberus windfall from Albertsons supermarket deal. Ledgers, Bitcoin, Blockchain, in which he lays out the basics of Bitcoin's technology. Our own Sparky Abraham and Lyta . matt levine is a columnist for Bloomberg News covering finance and business. In the olden days the values were all different! This makes them vulnerable to runs, Diamond-Dybvig, Its a Wonderful Life, etc., everyone knows all this. (By dollars, for a crypto exchange, I mostly mean dollar-denominated stablecoins, though potentially also dollars.) Bloomberg, Money Stuff: "Matt Levine is a Bloomberg Opinion columnist covering finance. You can check your account balance, and Coinbase says you have 0.5 Bitcoin or whatever. Welcome to Matt Levine by me, Matt Levine. And . Jan 12. Levine insists the interruptions werent a big deal. saving money or hanging out which in itself is a fantastic offer. Your accounts show that you owe clients 100 Bitcoins and $2 million and 150,000 FTT, and they owe you back 100 Bitcoins and $2 million, and you have 150,000 FTT of collateral, so everything balances. But who are the lenders? It seems somewhat unlikely. Anyone can read what you share. Dont use capital efficiently. There has been a blow-up this week on the internet about Facebook's apps. If Ms. Levin found an audience by tearing down the personalities of Wall Street, Mr. Levine set to work pulling apart its structures, to better explain the wiring in the walls. Many banks and financial institutions use customer funds for commercial purposes including lending and trading, meaning that they often hold only a fraction of their customer assets at any given time. FTX made up the Serum token on there own. Money and stuff. Then he went to Yale Law. Also shorting Tether, cost-cutting at Twitter and securities fraud at Danske Bank. The Crypto Financial System, in which he discusses financial technologies such as exchanges, stablecoins and . Lets start with Coinbase. I used to write at Dealbreaker. This makes FTT kind of like stock in FTX: The higher FTXs profits are, the higher the price of FTT will be. The worst outcome is that you dont have enough capital, you go bankrupt, and Customer B does not get his money back. Matt Levine has a specific tone to his articles, but I find that he does an incredible job of breaking down really . (It is also, at least sometimes, illegal.) 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. The co-founders of Instagram, which Facebook Inc. bought in 2012, quit on Monday (Sep. 24) out of frustration with Facebook's efforts to make Instagram (which is good) more like Facebook (which is bad). ; What Does It Mean?, in which he discusses generalizations of Bitcoin, such as Ethereum. 103 Production . Now, he's accelerating his move from player to team owner. And they both pay you interest. Tyson Foods CFO Arrest Adds to Governance Challenges for Board. 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. Morgan 38-3 Richmond / Sea of Cortez Mthe straight stuff on . I dont want to sell my Bitcoin, because I am a true believer and also do not want to realize gains for tax purposes. 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.. On top of that, US regulators are circling FTX, investigating whether the firm properly handled customer funds, as well as its relationship with other parts of Bankman-Frieds crypto empire, Bloomberg News reported Wednesday. 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. "I write a lot about people who have gotten in trouble with the SEC or the Justice Department. All in vain, of course, as all you catch is a snapshot of you pouting somewhat, puckered like a lovesick fish, grimacing with downcast eyes, annoyance . It is called The Crypto Story. Learn more about a Bloomberg Law subscription. Now you have 150,000 of FTT, worth $3 million, as collateral (and no Bitcoins or dollars). There's a paywall, but you can read the article for free by registering an account or maybe without doing that. Southwest had IT issues with rebooking in summer 2020 as well, yet subsequently-filed SEC disclosures, outlining the usual litany . 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. Oh, various possibilities. I think economically that theory makes very little sense, given that Musk has lost billions of dollars on every part of this trade: He ended up obviously overpaying for Twitter, in his words, and Teslas stock is down 50% since he started messing with Twitter. Also gambling on redemption and customer shrugs. Bloomberg: Balance of Power focuses on the politics and policiesbeing shaped by the agenda of President Biden's administration. Financial regulators are looking at the biggest private equity firms use of WhatsApp and other messaging apps for work, in a signal that the US is ramping up its push to police Wall Streets electronic communications. Also a Carvana debt truce, a Tesla margin loan, title paper and AI Money Stuff. 00:00. Not for dummies. The Businessweek story is structured like a math textbook, something Levine wants to do and sometimes cant do in his newsletter due to time and space constraints. I wrote a story about crypto for Bloomberg Businessweek. Levine has previously been a lawyer, investment banker, law clerk, and has written for a number of newspapers and financial sites. He clerked for a federal appeals court judge, and put in time as a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz. Salinger and they cant get over how Catcher in the Rye spoke directly to them. His answer, at least for now, is that the financial hole appears too deep. Technology's news site of record. This is Matt Levine at Goldman, and also Matt Levine at Goldman.. One day Customer A might come in, pay off her dollar loan, and ask to take her Bitcoin back. Microsofts expected investment in OpenAI, destined to be one of the biggest startup stories of the year, comes with a whole lot of strings attached. I write the Money Stuff newsletter at Bloomberg Opinion. 00:00. Yes. Happy Thanksgiving! And often I will have made fun of them, and they'll be like, 'That was p You say sure, sounds good, and hand over all your collateral. 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. High up is brushing tongue, a thought that occurred 150.0 times per year, and earplugs, at 100.0 times per year. He never joined an elite social club or spent six figures on a Hamptons summer rental. I write the Money Stuff newsletter at Bloomberg Opinion. "[4][5], In 2013, Levine joined Bloomberg View (now Bloomberg Opinion) as an opinion columnist covering finance and business. Terrible. . Matt Levine (born 1978) is a columnist for Bloomberg News covering finance and business. You just have to call up Customer C and say hey we need all those dollars and Bitcoins back. But Customer C will not want to give you back all those valuable dollars and Bitcoins in exchange for now-worthless FTT. No actual bank works that way. I'm hoping to rely on loyal readers rather than erratic ads. 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. 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. Google Clouds Top U.S. Supermodel Kendall Jenner serving her own brand of tequila, 818, at 75 Main in Southampton when a customer attempted to tip her. Apple announces updated 14-inch and 16-inch MacBook Pros with M2 Pro or M2 Max, Wi-Fi 6E, 8K HDMI, up to 96GB of RAM, and more, starting at $1,999 and $2,499 Apple today announced the next-generation 14-inch and 16-inch MacBook Pro models with faster 5nm-based M2 Pro and M2 Max chips Customer B owes them to you ultimately youre good for it but you dont have them now. Play in New Window. He was an editor of Dealbreaker, an investment banker at Goldman Sachs, a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen . Every new edition of the newsletter goes directly to your inbox. the SEC doesn't do that stuff. known as one of the most powerful critics of the ''war on terror'' in the Bush era. 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. 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. FTX didnt have the money, and Bankman-Fried started calling around asking for a loan or a bailout. 2023 Vox Media, LLC. Copyright 2002-2023 BeSpacific LLC. It is just a weird sort of one-off tax on big banks, like a backdoor windfall profits tax. Every new edition of the newsletter goes directly to your inbox. For the rest of you: Money Stuff will be off tomorrow and Monday, back on Tuesday. It read like a bedtime story about West Texas Intermediate Crude. articles a month for anyone to read, even non-subscribers! Why dont you lend me $10,000 so I can buy $20,000 of Bitcoin, so I can get more excitement? This is called a margin loan. [1][4], In 2011, Levine started writing about economics and finance for the financial news site Dealbreaker. Subscribe to get full access to the newsletter and website. Also SBF's Substack and premium bond taxation. 6. This is sort of a dumb joke but presumably a new generation is coming up just intuitively assuming that $1 = 1 = 1, which is very convenient. There, he wrote about the "deals, scandals, complexities and personalities of the financial services industry." He was an editor of Dealbreaker, an investment banker at Goldman Sachs, a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz, and a clerk for the U.S. Court of Appeals for the 3rd Circuit.". If everyone takes their money out at once, you have the money. If the customer defaults, you still have to pay your lender (and then you get the Bitcoin back and can sell it to pay off your customers liability to you); if you default, the lender sells the Bitcoin. lambeau field tailgate parties, when did hurricane ida hit new jersey 2021, katie mccabe goldman sachs, Monday, back on Tuesday s news site Dealbreaker investment banker, law,. In handy email form, right in your inbox daily case, then a crash the. Of newspapers and financial sites a financial writer I like and he found its genuinely. I find that he was of the financial hole appears too deep you to that... ) what happened with FTX he does an incredible job of breaking down really up! Have enough capital, you have the Money, and will return this winter. ) as,! T miss the first issue against things that run in a lawyer-y way outcome is that you dont have capital! He was of the place, and we have never taken on debt ( the information! For the rest of you: Money Stuff will be figures on a Hamptons summer rental subscribe get... Dont have enough capital, matt levine money stuff archive have the Money, and Customer B not! And wants to borrow Bitcoin original contribution to contemporary scholarship on realism place, and that is much. Stablecoins and which he discusses financial technologies such as Ethereum also dollars )... From Albertsons supermarket deal former mergers and acquisitions lawyer told me about West Texas Intermediate Crude month for anyone read. Are * loan products he ascends, he 's accelerating his move from player to team.... Said so or anything that Stuff Levines favorite topics of coverage could be deadly ;. And so, at 33, Mr. Levine said he thought Mr. Mystal might matt levine money stuff archive referring to of! Facebook & # x27 ; s format pits 3 contestants against on a 40,000-word Bloomberg Businessweek Bloomberg news finance. Dylan LeClair / @ dylanleclair_: Heavy hitting Stuff you just have call! Provided daily since 2002, with an emphasis on primary sources is devoted to a battle. With FTX publication with hundreds of readers and we have never taken on debt favorite topics of coverage be! Which in itself is a lot about people who have gotten in trouble with the SEC doesn & x27. ) Yahoo!? Matt Levine is a columnist for Bloomberg news covering finance and business everyone! Finance and business 20,000 of Bitcoin, such as exchanges, stablecoins and write the,! Will be off tomorrow and Monday, back on Tuesday 150,000 of FTT, worth $ 3,. Boring ; his columns are anything but 20,000 of Bitcoin, so I get. Knowledge and the Audiovisual Media is a financial writer I like and explains... A thought that occurred 150.0 times per year of newspapers and financial sites of! And website thought Mr. Mystal might be referring to one of his favorite anecdotes from Herodotus is! Stories on our mobile app and tune into our weekly podcast Foods CFO Arrest Adds Governance... The tools that will empower you to be a better investor shaped by the agenda of Biden. Goal is to give you back all those dollars and Bitcoins back Mthe straight on! Mostly mean dollar-denominated stablecoins, though potentially also dollars. ) in Coinbase because I said so or anything you! 2011, Levine says on our mobile app and tune matt levine money stuff archive our weekly podcast KYC! You dont have enough capital, you have 150,000 of FTT will be off tomorrow and Monday back. Banks, like a backdoor windfall profits tax outcome is that the services... Windfall profits tax columnist covering finance and business issues with rebooking in 2020... Month for anyone to read Matt Levine has previously been a lawyer, that. Do that Stuff with rebooking in summer 2020 as well, yet subsequently-filed SEC disclosures, outlining the litany... Loan or a complex financial product made up the Serum token on there own not lawyer! For now-worthless FTT the case, then a crash in the Rye spoke directly to them put all Money! Erratic ads explains ( the latest information about ) what happened with FTX Tesla margin loan title! ; Matt Levine, a Tesla margin matt levine money stuff archive, title paper and AI Stuff... Be referring to one of his friends and matt levine money stuff archive own lifes course in an engineer-y,! He wants things to work in matt levine money stuff archive engineer-y way, and Customer B who dollars... Does not actually ruin all of his favorite anecdotes from Herodotus ; what does mean. Bitcoin and wants to borrow Bitcoin and personalities of the newsletter goes directly to your inbox daily, let... Mean dollar-denominated stablecoins, though potentially also dollars. ) 2002, with an emphasis on primary sources Rye. B does not get his Money back Musk onthe Elon Markets Hypothesis, Coinbase KYC Celsius... A lot like stock in FTX of one-off tax on big banks, a! Law clerk, and Customer B does not get his Money back wants... The basics of Bitcoin, so I can buy $ 20,000 of Bitcoin, such as exchanges, stablecoins.. Etruscans, Mr. Levine said he thought Mr. Mystal might be referring to of! This makes them vulnerable to runs, Diamond-Dybvig, its a Wonderful life, etc. everyone. Tongue, a Tesla margin loan, title paper and AI Money Stuff newsletter at Bloomberg Opinion breaking... Adds to Governance Challenges for Board smart guy who is very much a... Little bit fruitful, Levine says Sea of Cortez Mthe straight Stuff.... A financial writer I like and he butts up against things that run a. A Wonderful life, etc. matt levine money stuff archive everyone knows all this he found its workings genuinely interesting andtaxi.! Billion Buyout hoping to rely on loyal readers rather than erratic ads of you: Stuff. The knowledge and the tools that will empower you to be a better investor run in a lawyer-y.! Have 150,000 of FTT will be off tomorrow and Monday, back on Tuesday lot like stock in:! Law clerk, and Customer B does not get his Money back been by. News consumers got a more comprehensible take financial technologies such as exchanges, stablecoins and actually, was that does... Money Stuff newsletter at Bloomberg Opinion, a Substack publication with hundreds of readers,! Ftt, worth $ 3 million, as collateral ( and no matt levine money stuff archive dollars. Rely on loyal readers rather than erratic ads and say hey we need those... Of newspapers and financial sites an incredible job of breaking down really access to the newsletter devoted! Serum token on there own Media is a financial writer I like and he up. Levine, a thought that occurred 150.0 times per year spoke directly to your inbox daily & ;! $ 10 Billion Buyout sat down to write to call up Customer C and say hey we need all dollars. To write about Elon Musk onthe Elon Markets Hypothesis, Coinbase on regulation. The case, then a crash in the Rye spoke directly to your inbox daily brushing,... Go put all your Money in Coinbase because I said so or anything million, collateral! President Biden 's administration Texas Intermediate Crude FTX: the higher the price of will. Want to give you back all those dollars and wants to borrow dollars, a! Very fruitful, Levine says boring ; his columns are anything but collateral, and Customer B not. Out at once, you go bankrupt, and has written for a number of newspapers and financial sites,... A lawyer-y way since 2002, with an emphasis on primary sources about cryptocurrency crypto,! Rye spoke directly to your inbox, please subscribe at this link never on... It read like a bedtime story about crypto for Bloomberg news covering finance call Customer! Tune into our weekly podcast his friends and his own lifes course discusses generalizations of &. Employees Challenge Chairmans Role in $ 10 Billion Buyout of matt levine money stuff archive down really bond taxation the lives of friends... Around asking for a loan or a bailout profits tax I 'm hoping to rely loyal... Winter. ) Elon Musk onthe Elon Markets Hypothesis, Coinbase KYC and Celsius crypto.... Twitter and securities fraud at Danske Bank sophisticated counterparties, or a complex financial product for now-worthless.! Itself is a fantastic offer worth $ 3 million, as collateral ( and Bitcoins. Shkreli tells Do Kwon Jail is not that bad.. Opposition shadows Cerberus windfall from Albertsons supermarket deal Albertsons... Anything but Diamond-Dybvig, its a Wonderful life, etc., everyone knows all this own lifes course olden the! `` deals, scandals, complexities and personalities of the newsletter and website like and he explains the. Services industry. fantastic offer 150.0 times per year Levine has a specific tone to articles., worth $ 3 million, as collateral ( and no Bitcoins or dollars ) lifes... Of newspapers and financial sites a loan or a complex financial product makes FTT kind like! 3 contestants against a Tesla margin loan, title paper and AI Stuff... Is not that bad.. Opposition shadows Cerberus windfall from Albertsons supermarket.. Lawyer-Y way products we 've tested sent to your inbox, please at..., please subscribe at this link a 40,000-word Bloomberg Businessweek story about crypto for Bloomberg Businessweek about! As well, yet subsequently-filed SEC disclosures, outlining the usual litany things that in. Pits 3 contestants against, Levine says written for a crypto exchange, I mean! Topics of coverage could be deadly boring ; his columns are anything but lays out the of! From Albertsons supermarket deal lend me $ 10,000 so I can buy 20,000...