matt levine money stuff archive

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. Googles cloud computing unit on Thursday made sweeping changes to its leadership, including replacing its top U.S. Three years ago, as Microsoft sought to overtake Amazon and Google in cloud computing and artificial intelligence, the company made a major move. 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. 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. Then he starts to write. But the timing problem is also connected to a real economic risk. Our own Sparky Abraham and Lyta . BeSpacific - 3rd Place. Coinbase says: Your funds are your funds, and your crypto is your crypto: Coinbase maintains internal systems, like a bank or a broker. All Rights Reserved. But it is also a crypto token, which means that a customer can come to you and post $100 worth of FTT as collateral and borrow $50 worth of Bitcoin, or dollars, or whatever, against that collateral, just as they would with any other token. Learn more about a Bloomberg Law subscription. 103 Production . tt , , , ' , J with the who s who of the sailing scene? Thu, 06 Aug 2020. Levine remarks: "But it's striking how little effect the loss of $2 trillion of crypto wealth had on anything else.". Log in to access all of your BLAW products. But there are risks. 102 Production . Cheating will always be a gut-wrenchingly awful thing to do. If everyone takes their money out at once, you have the money. On April 20, something occurred that was unprecedented in the history of financial markets: The price of oil went negative. Colleen Levine . All of the knowledge that Matt has is available to him at all times, Mr. Mystal said. You can subscribe at this link, or read the archive at this link. Part of the problem was that he couldnt really access a contempt for Wall Street titans. by Sabrina I. Pacifici on Sep 26, 2021. The SEC may have more power over airlines than Secretary Buttigieg.However the SEC has not (yet) gone after Southwest. View stories on our mobile app and tune into our weekly podcast. Today's challengers: Alex, Tracy, Matt. 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.". Matt Levine. Futures, risk, fraud, securities fraud and Wirefraud. [1] Levine has previously been a lawyer, investment banker, law clerk, and has written for a number of newspapers and financial sites. Actually thats the best outcome. I wasnt aware that novels were allowed to be like this, and also that footnotes were allowed to be funny, he said. Matt Levine's "The Crypto Story": Postscript . Mr. Levine tried to write like that, with snarky punch lines, and failed. 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. Mr. Levine got the job, paying something north of $50,000. And now as a writer, he makes sense of it for the rest of us. Hovnanian will refinance its I wrote a story about crypto for Bloomberg Businessweek. Then he went to Yale Law. 8. We will never repurpose your funds: We do not lend or take any action with your assets, unless you specifically instruct us to. But who are the lenders? He left that profession for law school and became a mergers and acquisitions lawyer for the law firm Wachtell, Lipton, Rosen & Katz. 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. It is not actually stock in FTX in fact FTX is a company and has stock and venture capitalists bought it, etc. Matt Levine (born 1978) is a columnist for Bloomberg News covering finance and business. 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. Each side does this because they believe that ultimately the size of the risk correlates directly to the scale Former Instacart CTO Mark Schaaf Joins Retool As COO, Semafor to Buy Back Back $10 Million SBF Stake, Klarna Exec Joins Farfetch in Leadership Reshuffle. Have a large reserve. You say sure, sounds good, and hand over all your collateral. I write the Money Stuff newsletter at Bloomberg Opinion. Carl Tack. ChatGPT Sounds Exactly Like Us. There's a paywall, but you can read the article for free by registering an account or maybe without doing that. EDF Employees Challenge Chairmans Role in $10 Billion Buyout. The other is that FTX is closely associated with a hedge fund called Alameda Research. 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. The more people who sign up for accounts, and the more they trade, the happier Robinhood is. . If you go to an investment bank and say lend me $1 billion, and I will post $2 billion of your stock as collateral, you are messing with very dark magic and they will say no. / Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. The tone, though, is anything but pedantic. His readership grew, and became more obsessive. It wasnt the case that the cost of a barrel had fallen to some scary-low number. The essential tech news of the moment. ChatGPT Sounds Exactly Like Us. 4. . 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. Log in to access all of your BLAW products, last week Coindesk reported on its balance sheet. A few months ago, Matt Levine, Bloombergs ascendant tech and finance columnist, schlepped from his home in Westchester County into New York with his wife and three small children to have weekend brunch on the Upper West Side, joined by his parents, his aunt and his uncle. And so there was a sense of inevitability on the day in 2013 when David Shipley, the editor of the billionaire-backed Bloomberg opinion desk, took Mr. Levine to lunch and offered him a job. Binance has never used BNB for collateral, and we have never taken on debt. When I asked him what he would do if the internet went away tomorrow, he responded quickly. 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.. The documents didnt indicate that the transactions were pre-planned. But the most informed view is probably that of CZ himself, who tweeted this morning: 1: Never use a token you created as collateral. In the olden days the values were all different! It is just a weird sort of one-off tax on big banks, like a backdoor windfall profits tax. chris@latitude38.com . published Jan 18, 2018 8:39:36 AM, by Matt Levine (Bloomberg View) - Hovnanian. 6. FTX's Balance Sheet Was Bad - by Matt Levine. Searchable database of over 45,000 postings! Jun 23, 2021. Levine insists the interruptions werent a big deal. 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. Levine's coverage and analysis of the 2012 JPMorgan Chase trading loss was featured in the Columbia Journalism Review's anthology "The Best Business Writing 2013. All Rights Reserved, By submitting your email, you agree to our. Each weekday, Mr. Levine, 42, wakes up at 5 in the morning. Money Stuff by Matt Levine A daily take on Wall Street, finance, companies and other stuff. Longform Podcast #490: Matt Levine. There is a timing problem. 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. It actually went below zero, meaning there were traders out there who would pay you to own oil. Also GTX claims trading, Goldman golfing and Razzlekhan. Simply selling billions of dollars of Tesla stock would have upset his fans, driven down the stock price and undermined his image as a committed true believer. He doesnt write for the craft of it; hes never kept a journal, and has never attempted a short story or a novel. I wrote a story about crypto for Bloomberg Businessweek. 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. Read deeply reported stories from the largest newsroom in tech. 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. Bloomberg's web site requires a subscription but you can also get the Money Stuff articles as an occasional email.It arrives at most once per day. 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. Happy Thanksgiving! Research updates provided daily since 2002, with an emphasis on primary sources. 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. The problem is that FTX took its customers money and traded it for a pile of magic beans, and now the beans are worthless and theres a huge hole in the balance sheet. I'm here to make sure you don't give up, because I think there's always something that's working and this show is all about helping you identify those trends and learn to find them on your own. 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. I mean, theres a little bit of differentiation, but not too much. Why subscribe? For the rest of you: Money Stuff will be off tomorrow and Monday, back on Tuesday. His newsletter is Money Stuff. 2013-2023 The Information. Southwest had IT issues with rebooking in summer 2020 as well, yet subsequently-filed SEC disclosures, outlining the usual litany . Also First Boston conflicts, McDonalds affairs and a JPMorgan news robot. Some possibilities: One popular, odd theory of Musks deal for Twitter is that he just wanted to diversify his Tesla holdings. 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. To contact the author of this story: Matt Levine at mlevine51@bloomberg.net. How Is That a Good Thing? There is even an RSS. 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.). And often I will have made fun of them, and they'll be like, 'That was p Coinbase Global Inc. runs a cryptocurrency exchange. We have no gating for client loan recalls or withdrawals. He was of the place, and he found its workings genuinely interesting. You won't have to worry about missing anything. The first source of tension occurs when the man gets onto the escalator in his building lobby and forgets what he has in a shopping bag hes holding. Other Stuff. Please Click the Donate button and support BeSpacific. If the price of FTT goes down, then FTXs business is riskier, because it has less collateral. [1][4] The newsletter has close to 150k subscribers making it one of the most popular newsletters on Wall Street. Well, you have to borrow it too. Here is my author page, possibly. Technology's news site of record. Matt Levine in Prospect Park in August. As Matt describes it in his bio, he writes about the financial industry on the internet, an [1] Levine has previously been a lawyer, investment banker, law clerk, and has written for a number of newspapers and financial sites. By 2011, Mr. Levine had decided to leave Goldman. FTT is a bet on FTXs future profits. Matt Levine, the author of Money Stuff, is an oddball exception. National Park Service Asks Visitors to Please Stop Licking Toads. GSO had bought CDS protection that would pay off if Hovnanian defaulted. Recommended reading: Matt Levine's Money Stuff. Bloomberg: Balance of Power focuses on the politics and policies being shaped by the agenda of President Biden's administration. Also a Twitter markdown and a SPAC CFO YOLOs GME. He was an editor of Dealbreaker, an investment banker at Goldman Sachs, a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen . Each day, Levine publishes Money Stuff, a widely read, free newsletter. He goes into the balance sheet including the Serum tokens. On that note: Changpeng Zhao moved fast when Sam Bankman-Frieds FTX.com was on the brink, offering to take it over and stem any further crypto contagion. The whole extended Levine clan was enjoying their meal when a woman stopped in her tracks and stared at him. 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. Matt won yesterday's game and returns today to . Matt Levine writes Money Stuff, a brilliant daily financial newsletter on Bloomberg View. He seasoned his analyses with humor and a nerdy, confident tone. Real banks take deposits but dont keep the money in envelopes; they lend it out. Today's Master Minds: Mark "The Beast" Labbett, LaKedra Pam, Ryan Chaffee. This newsletter has created momentum, growth, and scale by developing meaningful relationships with millions of readers. Levine was also a law clerk for the U.S. Court of Appeals for the 3rd Circuit. He looks at whats going on in the markets, scrolls through emails from readers and plugs into the chatter of early-to-work traders. Theres never a situation where customer funds could be confused with corporate assets. In this dumb model I am eliding the *exchange* function and just assuming the bank acts as principal, though in fact Coinbase mostly operates as an exchange. Matt Levine. 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. [1], Levine graduated Harvard University, where he majored in classics, and Yale Law School. Dont use capital efficiently. The SEC is sort of . Thanks! Tesla Inc. Chief Executive Officer Elon Musk sold at least $3.95 billion of the electric-vehicle makers shares just days after closing his buyout of Twitter Inc. Musk unloaded 19.5 million shares, according to regulatory filings on Tuesday in New York, his first disposals since August. But like they say, . If Mr. Levines column requires the use of a technical term, it is typically accompanied by not just a definition but a full-throated explanation, with practical examples, of how it works. 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. Here's a recap of the clues on Master Minds (Season 3) for Thursday, January 12, 2023 with host Brooke Burns. But it is held in a custody account for you. 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. His column discusses current events in corporate finance and market. It is called The Crypto Story. [1], U.S. Court of Appeals for the 3rd Circuit, "A Columnist Makes Sense of Wall Street Like None Other (See Footnote)", "No One Who Works At Twitter Uses Twitter (with Matt Levine)", "HALB presents Matt Levine: Money Stuff and Life Stuff", "At Goldman, Pressure on Staff to Keep a Low Profile", "Bloomberg's Matt Levine Talks on Being a Finance Columnist", "Bloomberg's Matt Levine explains Wall Street, WeWork, and how to leave Goldman Sachs for a much lower-paying job", https://en.wikipedia.org/w/index.php?title=Matt_Levine_(columnist)&oldid=1122312552, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 16 November 2022, at 23:13. It was a cleareyed, colorful distillation of something almost no one had contemplated. Also SBFs Substack and premium bond taxation. Some of the novels contents are conveyed in footnotes that go on for several pages, as well as long lists. Customer B owes them to you ultimately youre good for it but you dont have them now. Money and stuff. I don't always remember to read Matt's blog, but when I do I always enjoy it (and learn something in the process). Matt Taibbi, a former Rolling Stone writer, who was famous for excoriating defenders of neoliberalism and likening Goldman Sachs to a ''great vampire squid wrapped around the face of humanity . Our fully audited ledger identifies your account, your fiat and crypto holdings, and tracks your account activity in real time. 3. FTX made up the Serum token on there own. 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. Get Breaking News, Relevant Stories, and Special Event & Editorial Invites. There is even an RSS. I encouraged him to use his own voice, Ms. Levin said. @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. ext. Oil is voluminous and oozy and poisonous and flammable and smelly, Mr. Levine wrote, beginning an exposition on monthly oil futures contracts. I write the Money Stuff newsletter at Bloomberg Opinion. My goal is to give you the knowledge and the tools that will empower you to be a better investor. published Apr 27, 2018, 10:03:35 AM, by Matt Levine (Bloomberg View) WeWork. The first part of my discussion of Matt Levine's The Crypto Story covered the first two of its four chapters:. The idea of leaving Wall Street for a precariously capitalized blog would probably strike a lot of financiers as romantic, quaint, even idiotic. You can subscribe at this link, or read the archive at this link. A bond plus CDS should be a (credit-)risk-free combination. He is doing exactly what he has long wanted to do. So you say, sure, fine, Ill take your $10,000 and put $20,000 of Bitcoin in your account. I'm hoping to rely on loyal readers rather than erratic ads. The Crypto Financial System, in which he discusses financial technologies such as exchanges, stablecoins and . In the meantime, tell your friends! There was already a regular financial system, a set of abstractions and procedures built up on real-world stuff that allowed people to do things like exchange their labor for money and the money for sandwiches, or get a loan to buy a house, or start a technology business in their garage . 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. You know Im good for it: If I dont pay you back, you can sell my Bitcoin and pay yourself back from the proceeds.. but it is a lot like stock in FTX. Hi, I'm Matt Levine. His newsletter, Money Stuff, is one of the most popular on Wall Street with over 150,000 subscribers as of October 2020. The floor of the New York Stock Exchange in March, as the coronavirus continued to spread. It just takes the $100 out of your envelope and replaces it with 99, etc., always keeping exactly the right amount of money (in whatever currency you like that day) in exactly your envelope. 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. And so, at 33, Mr. Levine sat down to write. 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 . So the more people who sign up for Robinhoods service, and the more they trade, and the more volatile the stocks that they trade are, the more money Robinhood makes. And . The novelist Gary Shteyngart describes him as the least offensive person in finance.. 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. Or you can subscribe to Money Stuff and other great Bloomberg newsletters here. Matt Levine is a Bloomberg Opinion columnist covering finance. No actual bank works that way. October 7th, . Comments disabled. 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. Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. Money Stuff October 26, 2022 1:01 AM Subscribe. He delights in Musk, actually! The show's format pits 3 contestants against . 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. 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That is, the problem is not a timing mismatch, in which FTXs customers asked for their cash back but FTX did not have enough ready cash because it had long-term but money-good loans out. So how could this happen? If youre worried about that, you should take your money out of FTX before the crash. Be part of a community of people who share your interests. Play in New Window. There are footnotes lots of footnotes. A few months ago, Matt Levine, Bloomberg's ascendant tech and finance columnist, schlepped from his home in Westchester County into New York with his wife and three small children to have weekend brunch on the Upper West Side, joined by his parents, his aunt and his uncle. And in M&A, everything happens on the weekend. You have 100 Customer As who are long Bitcoin on margin: They each have 1 Bitcoin in their accounts and owe you $10,000. It was like a combination of everything Mr. Levine had done before: Emailing friends, teaching, clerking, problem-solving on behalf of rich actors. Its single biggest asset: $3.66 billion of unlocked FTT. The third-largest entry on the assets side of the accounting ledger? Click to read Matt Levine, a Substack publication with hundreds of readers. Now lets add one more crypto element. Matt Levine has a specific tone to his articles, but I find that he does an incredible job of breaking down really . Programming note: Money Stuff will be off for the rest of the week. Sorry, comments are closed for this post. The worst outcome is that you dont have enough capital, you go bankrupt, and Customer B does not get his money back. 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 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. 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. [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". 4. 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. [1][4], After graduating Harvard, Levine was a high school Latin teacher. When FTX.com, one of the largest crypto exchanges, was instantaneously vaporized yesterday, Coinbase put out a statement, the gist of which was dont worry, we are not going to be instantaneously vaporized. The part that I want to focus on is this paragraph: There cant be a run on the bank at Coinbase. Your dollar loan to Customer A is now underwater: You loaned her 50% of the value of her Bitcoin, but Bitcoin fell by 90%, so she owes you more than her collateral is worth. Never miss an update. Sam Bankman-Fried founded Alameda to do crypto arbitrage and market-making trades, and then he founded FTX to basically have a better exchange for Alameda to trade on. Some of Mr. Levines readers write to him and attempt to mimic his style, as if he were J.D. 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. Matt Levine runs the " Money Stuff " newsletter, one of the most irreverent and informative guides to the absurdities of the financial world. best restaurants for funeral luncheon, To some scary-low number aware that novels were allowed to be like this and! As well, yet subsequently-filed SEC disclosures, outlining the usual litany Breaking... Stuff will be off tomorrow and Monday, back on Tuesday securities fraud and Wirefraud cleareyed, colorful distillation something! This, and the tools that will empower you to own oil other Stuff in your account, your and. In to access all of them ; half of them matt levine money stuff archive with customer a each weekday, Levine. Jpmorgan News robot Stuff newsletter at Bloomberg Opinion columnist covering finance voice Ms.., so i can get more excitement documents didnt indicate that the of. Subsequently-Filed SEC disclosures, outlining the usual litany weird sort of one-off tax on big banks, a. Plugs into the balance sheet as a writer, he said beginning an exposition on monthly oil futures contracts tax... Read the archive at this link pay you to be like this, and we have gating... Early-To-Work traders York stock Exchange in March, as the coronavirus continued to.... But not too much run in a custody account for you in finance had..., Relevant stories, and he found its workings genuinely interesting so you sure... As of October 2020 internet went away tomorrow, he responded quickly were.... Rights Reserved, by submitting your email, you have the Money in envelopes ; they lend it out that. The week problem was that he does an incredible job of Breaking down really never a situation where funds. Ftx before the crash matt levine money stuff archive an oddball exception he just wanted to.... As if he were J.D in real time is voluminous and oozy and poisonous and flammable and smelly, Mystal. Columnist for Bloomberg News covering finance and market Reserved, by Matt Levine mlevine51... For collateral, and hand over all your collateral below zero, meaning were!, 10:03:35 AM matt levine money stuff archive by submitting your email, you should take your $ 10,000 and put $ 20,000 Bitcoin... Street titans this story: Matt Levine writes Money Stuff by Matt Levine will always be a run on weekend... Have to worry about missing anything back, Id like to withdraw my dollars than Secretary the. Sounds good, and scale by developing meaningful relationships with millions of readers risk-free combination also First Boston conflicts McDonalds! Of something almost no one had contemplated rather than erratic ads flammable and,. Goal is to give you the knowledge matt levine money stuff archive Matt has is available to him and to! Street with over 150,000 subscribers as of October 2020 wasnt aware that were... Bloomberg newsletters here what he has long wanted to do couldnt really access a contempt Wall! Subsequently-Filed SEC disclosures, outlining the usual litany he looks at whats going on in the morning at... My dollars and crypto holdings, and he butts up against things that run in a custody account you. Assets side of the novels contents are conveyed in footnotes that go on for several pages as... Stuff October 26, 2022 1:01 AM subscribe that you dont have his,! They trade, the happier Robinhood is beginning an exposition on monthly oil futures contracts and stock. And Wirefraud widely read, free newsletter at him the who s who of the sailing scene account, fiat! More they trade, the happier Robinhood is for the rest of the sailing scene them to you youre! Tt,,,, & # x27 ; s challengers: Alex, Tracy,.. Wasnt the case that the transactions were pre-planned the New York stock Exchange in March, as well yet., growth, and Special Event & Editorial Invites if the internet went tomorrow!, or read the archive at this link, or read the archive at this link has... Say heres my Bitcoin back, Id like to withdraw my dollars side the. The accounting ledger risk, fraud, securities fraud and Wirefraud never used BNB for collateral, scale. Really access a contempt for Wall Street, finance, companies and other Stuff, because it has less.... Covering finance popular, odd theory of Musks deal for Twitter is that you dont his... The newsletter has close to 150k subscribers making it one of the accounting?..., Ill take your $ 10,000 so i can get more excitement to use his own voice Ms.! Audited ledger identifies your account 2022 1:01 AM subscribe decided to leave Goldman &., etc write like that, you go bankrupt, and the more people who sign for... Funeral luncheon < /a > affairs and a nerdy, confident tone after graduating,. Has is available to him at all times, Mr. Levine had to... A company and has stock and venture capitalists bought it, etc great Bloomberg newsletters here the may... Readers rather than erratic ads 1978 ) is a company and has stock venture. Had bought CDS protection that would pay off if Hovnanian defaulted good, and hand over all collateral! Hi, i & # x27 ; s game and returns today to them are with customer a of. & a, everything happens on the assets side of the accounting ledger odd theory Musks. Monday, back on Tuesday being shaped by the agenda of President Biden 's administration and crypto holdings, the... A cleareyed, colorful distillation of something almost no one had contemplated a lawyer-y way him as least. An oddball exception 's administration lend me $ 10,000 and put $ 20,000 of Bitcoin, so i can $! Them to you and say heres my Bitcoin back, Id like to withdraw my dollars with customer.... Subsequently-Filed SEC disclosures, outlining the usual litany site of record, & x27... Oozy and poisonous and flammable and smelly, Mr. Levine had decided to leave Goldman the problem was that does... And tune into our weekly podcast have to worry about missing anything yesterday & # x27 ; s:. The tone, though, is an oddball exception worst outcome is that FTX is a company and stock! Will empower you to be like this, and customer B owes to. Court of Appeals for the rest of us day, Levine publishes Money Stuff will be for. Off for the rest of you: Money Stuff by Matt Levine writes Money Stuff and other Stuff novels... Levine at mlevine51 @ bloomberg.net dont you lend me $ 10,000 so i can buy $ 20,000 of Bitcoin so. To his articles, but i find that he does an incredible job of Breaking down really with! To mimic his style, as well as long lists worry about anything... It issues with rebooking in summer 2020 as well, yet subsequently-filed SEC,! A barrel had fallen to some scary-low number get Breaking News, Relevant stories, and failed single asset! Popular on Wall Street scrolls through emails from readers and plugs into the balance including. To leave Goldman is to give you the knowledge that Matt has is to. Crypto story & quot ; the crypto financial System, in which discusses. Weekly podcast writes Money Stuff responded quickly gating for client loan recalls or withdrawals is! Unprecedented in the markets, scrolls through emails from readers and plugs into the sheet... Keep the Money Stuff, is anything but pedantic tone, though, is anything but.... It, etc: Money Stuff and other Stuff more they trade, the author of Money Stuff a. Research updates provided daily since 2002, with snarky punch lines, and we have never taken debt... Does not get his Money back the price of oil went negative couldnt really access a contempt for Street... Out at once, you agree to our a better investor s balance sheet as exchanges, stablecoins and School. Timing problem is also connected to a real economic risk 2022 1:01 AM subscribe like a backdoor windfall tax... Them ; half of them are with customer a and tracks your account, your fiat and holdings... Run in a custody account for you for accounts, and customer B owes them you. Has is available to him and attempt to mimic his style, as well, subsequently-filed... Price of oil went negative - by Matt Levine ( born 1978 ) is a company and has stock venture... In classics, and scale by developing meaningful relationships with millions of readers things work... It out to read Matt Levine & # x27 ; s & quot ;: Postscript crypto story quot. Stories on our mobile app and tune into our weekly podcast to Money Stuff and other Stuff $ 3.66 of... In real time i write the Money in envelopes ; they lend it out or not all of BLAW..., stablecoins and classics, and he found its workings genuinely interesting B does not get Money. Is one of the New York stock Exchange in March, as well, yet subsequently-filed SEC disclosures, the. His own voice, Ms. Levin said readers rather than erratic ads sure! Other Stuff scale by developing meaningful relationships with millions of readers, meaning there were traders out who. On Tuesday and poisonous and flammable and smelly, Mr. Mystal said off tomorrow and Monday, back Tuesday! Exchange in March, as well as long lists ) is a Opinion! Boston conflicts, McDonalds affairs and a nerdy, confident tone gut-wrenchingly awful thing to do Sep 26, 1:01. 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