Two thumbs WAY up for “Money Men” by Dan McCrum. Beyond chronicling the astounding
#Wirecard fraud—elements of which are jaw-droppingly unbelievable—there is much here that rhymes with the rising tide of recent frauds, from crypto to Adami Enterprises. 🔥
https://www.amazon.com/dp/B09QT3Y69V“With investors now certain that the coil in bond yields can only break higher, I expect them to go lower – and potentially substantially so given potential positioning unwinding. With that, what is now an inflationary narrative could quickly turn to disinflation if not outright deflation, especially with consumers’ pandemic savings all but exhausted.”
—Peter Atwater, Financial Insyghts
A _must_ read essay from Martin Wolf, "In Defense of Democratic Capitalism." 👏 👏 👏
https://www.ft.com/content/877d1a2d-67df-46a4-a3af-8e28198b944aMartin Wolf: in defence of democratic capitalism
News, analysis and comment from the Financial Times, the worldʼs leading global business publication
Encrypt. Your. Fucking. Backups.
#Deezer #Breach.@matt_levine, FTW. 🔥
It’s a hell of an accomplishment to put out a daily column that is consistently AAA. And Matt saved his best for last, well, the last day of the 2022. Kudos! 👏👏👏
https://www.bloomberg.com/features/2022-the-crypto-story-FTX-collapse-matt-levine/
You know what seems >WAY< less safe? An FSD ‘beta’ (using the term generously) program open to anyone. That shit gonna‘ get people dead. 😬
#teslaJust me, or does this sound AWFULLY familiar?
“Two days later, UST’s stunning freefall began, and Wintermute unleashed its arbitrage strategy. Due to Terra’s design and the coin’s cratering price, Wintermute could buy UST for $0.80 and redeem it for $1.00 worth of luna, its sister cryptocurrency.”
https://www.forbes.com/sites/jeffkauflin/2022/12/20/with-sam-bankman-frieds-hedge-fund-gone-crypto-trading-firm-wintermute-emerges/?sh=f45188d2bbbc
Note to Forbes: STOP THE HERO WORSHIP, they ran the same trade as Alameda Research... and you can't even recognize that, FFS. 🤦♂️
With Sam Bankman-Fried's Hedge Fund Gone, Crypto Trading Firm Wintermute Emerges
By deftly navigating crypto’s frontier markets and winning big on the collapse of Terra’s stable coin, Wintermute has grown into one of the world’s leading crypto trading firms. Now it must navigate a market littered with carcasses and landmines.
Very likely the most hysterical article you'll read today.
"We believe Twitter will produce a return of 4-5x in just a few years, with comparably limited downside risk," Aliya Chief Executive Ross Kestin said in a statement.
https://www.reuters.com/business/investor-musks-twitter-buyout-expects-make-up-five-times-its-money-2022-12-20/
Investor in Musk's Twitter buyout expects to make up to five times its money
Aliya Capital Partners LLC, one of the biggest investors that joined Elon Musk's $44-billion acquisition of Twitter Inc, said on Tuesday it expects to make up to five times its money despite the social media company's problems.
“I say this with utter confidence because the problems with Twitter are not engineering problems. They are political problems. Twitter makes very little interesting technology; the tech stack is not the valuable asset. The asset is the user base: hopelessly addicted politicians, reporters, celebrities, and other people who should know better but keep posting anyway. You! You, Elon Musk, are addicted to Twitter. You’re the asset. You just bought yourself for $44B dollars.”
https://www.theverge.com/2022/10/28/23428132/elon-musk-twitter-acquisition-problems-speech-moderation
Welcome to hell, Elon
Elon Musk now owns Twitter — and a huge number of impossible political problems around speech, content moderation, and trying to make money.
“BINANCE TO BUY VOYAGER'S ASSETS IN DEAL WORTH $1.022 BILLION”
👆 This is a definition of ‘worth’ that I was previously unfamiliar with.🤷♂️
