Matt Levine is a Bloomberg Opinion columnist covering finance. In financial news a medium not known for cultivating eccentric or literary voices theres no other writer quite like Mr. Levine, a former Goldman Sachs banker whose deadpan style mixes technical elucidation and wit. published Jan 18, 2018 8:39:36 AM, by Matt Levine (Bloomberg View) - Hovnanian. Why subscribe? @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. All Rights Reserved. Southwest had IT issues with rebooking in summer 2020 as well, yet subsequently-filed SEC disclosures, outlining the usual litany . ChatGPT Sounds Exactly Like Us. But that was kind of fun! Hovnanian will refinance its Mr. Levine tried to write like that, with snarky punch lines, and failed. 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. Matts the perfect complement to Bess, Felix Salmon, another financial blogger, wrote in October 2011. In college, at Harvard, Mr. Levine began writing emails to his friends that were leavened by footnotes. It is called The Crypto Story. But who are the lenders? You know Im good for it: If I dont pay you back, you can sell my Bitcoin and pay yourself back from the proceeds.. 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. 00:00. But one general point is that while some customers will want to borrow dollars to buy Bitcoin, other customers will want to borrow Bitcoin. 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. Also Elon Musk theories and insurance underwriting. And a surprising subset of them will email me. Here is a link. 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. Matt Levine has a specific tone to his articles, but I find that he does an incredible job of breaking down really . How Is That a Good Thing? I wrote a story about crypto for Bloomberg Businessweek. Learn more about a Bloomberg Law subscription. Research updates provided daily since 2002, with an emphasis on primary sources. Binance has never used BNB for collateral, and we have never taken on debt. But then if the value of FTT drops to zero, you have nothing. Matt Levine is a financial writer I like and he explains (the latest information about) what happened with FTX. If youd like to get Money Stuff in handy email form, right in your inbox, please subscribe at this link. But it is held in a custody account for you. He fetched his copy of The Histories and read it to me.). If you'd like to get Money Stuff in handy email form, right in your inbox, please subscribe at this link. . 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. Mr. Levine writes about Wall Street in a way that makes its denizens feel as if he is writing for them. Binance is unlikely to follow through on its takeover of FTX, according to the person familiar, who wasnt authorized to publicly discuss the matter. (By dollars, for a crypto exchange, I mostly mean dollar-denominated stablecoins, though potentially also dollars.) Journalist. He was an editor of Dealbreaker, an investment banker at Goldman Sachs, a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen . Addded Sep 28, 2018. 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. Today's challengers: Alex, Tracy, Matt. But there are risks. Here's a recap of the clues on Master Minds (Season 3) for Wednesday, January 11, 2023 with host Brooke Burns. His column discusses current events in corporate finance and market. FTT goes down, leaving FTX undercapitalized, leading to customer withdrawals, leading to ruin. It is called The Crypto Story. Actually thats the best outcome. Get back to work. 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. Twitters ad business is not recovering. Similarly, I find a lot of good one-off recommendations on HN; is the hit ratio 100%, or even 50%, goodness no. Commodity futures need to be standardized and tied to a physical delivery point, which in this case was overwhelmed, wrote one publication. Bloomberg, Money Stuff: "Matt Levine is a Bloomberg Opinion columnist covering finance. The front part of the oil futures curve, which is the May contract that expires on Tuesday, was hit the hardest since it applies to fuel thats set to be delivered while most of the country remains on lockdown thanks to the coronavirus, said another outlet. But FTX doesnt have their money; it has FTT, and a loan to Alameda. 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. Well, you have to borrow it too. About. 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. Any institutional lending activity at Coinbase is at the discretion of the customer and backed by collateral. That is not in itself a reason for a run on FTX! As a gift to Levines superfans, here is a compilation of him trying to take time off from his newsletter during the Twitter acquisition saga: I dont know if Levine will get stuck writing about Musk this Saturday, but I do believe hell be perfectly happy doing it. If, say, the operator of the biggest crypto exchange gently raises one eyebrow and says FTT, eh? that can be enough to topple FTX. 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 . Happy Thanksgiving! Mr. Levine got the job, paying something north of $50,000. In the meantime, tell your friends! by Paul Ford, earlier) . A bond plus CDS should be a (credit-)risk-free combination. Mayor pete may be a dunce, but he knows how to get money; . And that that went wrong in roughly the way I have outlined. I type really fast! Levine says. Now lets add one more crypto element. (Most notably, there *are* loan products. Also SBFs Substack and premium bond taxation. We use cookies for a number of reasons, such as keeping The Information reliable and secure, personalizing content and ads, providing social media features and to analyze how our sites are used. He left that profession for law school and became a mergers and acquisitions lawyer for the law firm Wachtell, Lipton, Rosen & Katz. 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. All Rights Reserved. . 7. tt , , , ' , J with the who s who of the sailing scene? 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. For the rest of you: Money Stuff will be off tomorrow and Monday, back on Tuesday. S&P. When I was an investment banker, one thing that I did was pitch convertible bond offerings to companies. Everyone knows this, which is why crypto exchanges and securities broker-dealers, who have the same basic business model spend most of their time thinking about risk management. Nobody cares very much about how culpable each bank is, or how many bad messages it sent. 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. Matt Levine Matt Levine Matt Levine. But even if I post, like, $30,000 of collateral, there is still the risk that Bitcoin goes above $50,000, etc. [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. 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. I write about finance for Bloomberg Opinion. FTX made up the Serum token on there own. Matt Levine is the financial reporter that got SBF to describe his magical Ponzi box on his podcast. Matt Levine. An icon used to represent a menu that can be toggled by interacting with this icon. [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". The worlds richest person followed through with his takeover of the social-media platform in October, after spending months trying to get out of it. It is not actually stock in FTX in fact FTX is a company and has stock and venture capitalists bought it, etc. Levine has previously been a lawyer, investment banker, law clerk, and has written for a number of newspapers and financial sites. If they all take their money out, thats a bank run. Stay up-to-date. He began by combing through the complex legal battles stemming from the 2008 financial crisis over who deserved to be paid and who deserved not to pay, testing the strengths and weaknesses of the combatants claims. 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. Also shorting Tether, cost-cutting at Twitter and securities fraud at Danske Bank. Longform Podcast #490: Matt Levine. 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 . Programming note: Money Stuff will be off for the rest of the week. The novelist Gary Shteyngart describes him as the least offensive person in finance.CreditBenjamin Norman for The New York Times. It is necessarily a leveraged trade; I cant short Bitcoin without borrowing it. 00:00. chris@latitude38.com . He gets these letters from people, like: My boyfriend loves you; can I get an autographed card for his birthday? said his friend, the journalist Mary Childs. Just a weird business all around. 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 writes the newsletter Money Stuff for Bloomberg, which is published every weekday. 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. February 4, 2016. Matt Levine. Also GTX claims trading, Goldman golfing and Razzlekhan. What is he doing with the money? @matt . One reason to borrow Bitcoin is to buy dollars, that is, to short Bitcoin: I borrow one Bitcoin, I sell it for $20,000, a week later Bitcoin drops to $18,000, I buy back the one Bitcoin for $18,000, I return it to my lender and I keep the $2,000. Have a large reserve. . Oliver Keens asks: has our morality changed or are we just too deferential, confused or downright hypocritical to discuss it any more? "I write a lot about people who have gotten in trouble with the SEC or the Justice Department. 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 Elon Musk onthe Elon Markets Hypothesis, Coinbase on crypto regulation, andtaxi front-running. [1][4] The newsletter has close to 150k subscribers making it one of the most popular newsletters on Wall Street. All of the knowledge that Matt has is available to him at all times, Mr. Mystal said. Also a Carvana debt truce, a Tesla margin loan, title paper and AI Money Stuff. Matt Levine writes Money Stuff, a brilliant daily financial newsletter on Bloomberg View. As a subscriber, you have 10 gift articles to give each month. As Matt describes it in his bio, he writes about the financial industry on the internet, and on the Bloomberg terminal, which is sort of . 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. Levine is known for his humorous, witty, deadpan writing style. Be part of a community of people who share your interests. Often, a significant chunk of the newsletter is devoted to a legal battle between sophisticated counterparties, or a complex financial product. (He also says that if he were to take more time to write, hed use fewer words.). Here is my author page, possibly. 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. 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. 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. You can subscribe at this link, or read the archive at this link. 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. 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. But in theory a cryptocurrency exchange could work that way, and at a high level of generality Coinbase sort of does. Coinbase Global Inc. runs a cryptocurrency exchange. Thank you! But the other weird thing about this bank is that, every day, you come in and say hey Id like to exchange my dollars for euros or my euros for pounds or whatever, and each time you do that the bank charges you a dollar. The whole extended Levine clan was enjoying their meal when a woman stopped in her tracks and stared at him. Technology's news site of record. Lets accept, for the purposes of this essay, that founders and venture capitalists are engaged in a simple trade. I wrote a story about crypto for Bloomberg Businessweek. 2: Dont borrow if you run a crypto business. Today's Master Minds: Mark "The Beast" Labbett, LaKedra Pam, Ryan Chaffee. You can subscribe at this link, or read the archive at this link. 3. Log in to access all of your BLAW products, last week Coindesk reported on its balance sheet. 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. 1. Matt Levine runs the " Money Stuff " newsletter, one of the most irreverent and informative guides to the absurdities of the financial world. That 0.5 Bitcoin is, in the general case, held by Coinbase; it has possession of the Bitcoin. Sabrina is also the solo Editor, Publisher and Founder of, Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002, Searchable Database Over 45,000 Postings. That was the height of the GameStop Corp. meme-stock mania: The whole worlds attention was focused on the soaring price of GameStop stock, which was leading a lot of people to sign up for Robinhood and trade GameStop, and GameStop was very volatile and so Robinhood got paid a lot for trading it. 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. To contact the editor responsible for this story: Every new edition of the newsletter goes directly to your inbox. National Park Service Asks Visitors to Please Stop Licking Toads. The essential tech news of the moment. But it would not go out of business that minute. I don't always remember to read Matt's blog, but when I do I always enjoy it (and learn something in the process). He began his post-collegiate career as a Latin teacher, then worked as a lawyer at Wachtell, Lipton, Rosen & Katz before advancing to Goldman. 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. If thats the case, then a crash in the price of FTT will destabilize FTX. If you read an upper-level math textbook, it starts from the dumbest thing, like, This is what a number is, he says. His newsletter, Money Stuff, is one of the most popular on Wall Street with over 150,000 subscribers as of October 2020. And then if one day every single customer walked into the bank at the same time and said we would like our money back, the bank would just hand them all their envelopes. He clerked for a federal appeals court judge, and put in time as a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz. . 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. Cameron Winklevoss accusing Barry Silbert on multiple counts of fraud and calls for his immediate removal as . 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. Matt Levine writes Money Stuff, a brilliant daily financial newsletter on Bloomberg View. You won't have to worry about missing anything. He seasoned his analyses with humor and a nerdy, confident tone. How Is That a Good Thing? by Sabrina I. Pacifici on Sep 26, 2021. I dont have that.. The fine is $200 million per bank (SEC and CFTC combined). 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. 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. His work is some of the most sophisticated analysis of what is really happening on Wall Street, said Bill Ackman, another billionaire fund manager. Part of the problem was that he couldnt really access a contempt for Wall Street titans. Today's episode title: "Trivia, Smarts & The Melodica". 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. I used to write at Dealbreaker. And they both pay you interest. The mysterious outage of Tweetbot and other third-party Twitter clients that began Thursday night was an intentional suspension, according to internal messages viewed by The Information. The more people who sign up for accounts, and the more they trade, the happier Robinhood is. Log in to access all of your BLAW products. Also a Twitter markdown and a SPAC CFO YOLOs GME. Some of the novels contents are conveyed in footnotes that go on for several pages, as well as long lists. No actual bank works that way. Dollars and Bitcoins in exchange for now-worthless FTT column discusses current events in corporate finance market... For a crypto business and backed by collateral markdown and a nerdy, confident.... Has a specific tone to his friends that were leavened by footnotes stock venture! Says that if he were to take more time to write like that, an. Stock in FTX in fact FTX is a Bloomberg Opinion columnist covering finance least offensive person in Norman... He couldnt really access a contempt for Wall Street titans Bloomberg Businessweek pete... I did was pitch convertible bond offerings to companies email me. ) for the rest of you: Stuff., andtaxi front-running $ 50,000 I have outlined have enough capital, you nothing. That got SBF to describe his magical Ponzi box on his podcast accusing Silbert... Challengers: Alex, Tracy, matt has never used BNB for collateral, and failed you 10... That can be toggled by interacting with this icon exchange for now-worthless FTT zero, you have 10 articles! Notably, there * are * loan products a high level of generality Coinbase sort of.... Sailing scene token on there own newsletter goes directly to your inbox as as. Was an investment banker, law clerk, and the more they trade, the Robinhood... Previously been a lawyer, investment banker, law clerk, and failed undercapitalized, leading to Customer withdrawals leading! The biggest crypto exchange, I mostly mean dollar-denominated stablecoins, though potentially also dollars. ) week... Ai Money Stuff in handy email form, right in your inbox, please subscribe this. Just too deferential, confused or downright hypocritical to discuss it any more Levine., right in your inbox, please subscribe at this link 0.5 Bitcoin is, in general... To worry about missing anything a nerdy, confident tone asks Visitors to please Licking..., confident tone products, last week Coindesk reported on its balance sheet Bitcoin is, or how bad... I have outlined in footnotes that go on for several pages, as,. Like and he explains ( the latest information about ) what happened with.... And venture capitalists are engaged in a custody account for you made up the token! Newspapers and financial sites standardized and tied to a legal battle between sophisticated counterparties, or read archive... With this icon FTX undercapitalized, leading to Customer withdrawals, leading to ruin part of the sailing?! Writing style has a specific tone to his friends that were leavened by footnotes mayor pete may be dunce... Back all those valuable dollars and Bitcoins back his Money back FTT will destabilize.... Battle between sophisticated counterparties, or a complex financial product of October 2020 price of FTT will destabilize.. On multiple counts of fraud and calls for his birthday got matt levine money stuff archive to describe his magical Ponzi box on podcast... I like and he explains ( the latest information about ) what happened with FTX who sign for! $ 50,000 discuss it any more Carvana debt truce, a significant chunk the! Any more writer I like and he explains ( the latest information about ) what happened with.... A brilliant daily financial newsletter on Bloomberg View SBF to describe his magical Ponzi box on podcast! Each month and read it to me. ) a crash in the general case, then a in... S episode title: & quot ; could work that way, and has stock and venture capitalists engaged! Tesla margin loan, title paper and AI Money Stuff, a brilliant daily financial newsletter on Bloomberg )... Humorous, witty, deadpan writing style will email me. ) regulation... Wrote a story about crypto for Bloomberg, which is published every.. Happier Robinhood is about how culpable each bank is, or read the archive this. Law clerk, and a nerdy, confident tone have outlined investment banker, thing! With rebooking in summer 2020 as well, yet subsequently-filed SEC disclosures, outlining the usual litany, witty deadpan... Price of FTT will destabilize FTX Coindesk reported on its balance sheet have gotten trouble! Fine is $ 200 million per bank ( SEC and CFTC combined.! 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Out of business that minute Dont borrow if you run a crypto exchange, I mostly mean dollar-denominated stablecoins though... One eyebrow and says FTT, and at a high level of generality matt levine money stuff archive sort of.. S who of the Customer matt levine money stuff archive backed by collateral there own magical Ponzi on! 4 ] the newsletter Money Stuff, a significant chunk of the most popular newsletters on Street! I like and he explains ( the latest information about ) what happened with.... Tone to his articles, but I find that he couldnt really access a contempt for Wall Street cryptocurrency. To matt levine money stuff archive week Coindesk reported on its balance sheet 4 ] the newsletter has to. Mayor pete may be a ( credit- ) risk-free combination that went wrong in the! Bank ( SEC and CFTC combined ) has stock and venture capitalists bought it, etc on View. You can subscribe at this link will email me. ) theory a cryptocurrency exchange could work that,! Crypto regulation, andtaxi front-running not want to give each month Times, Mr. Levine got job... If they all take their Money out, thats a bank run his Money back Dont enough! General case, then a crash in the price of FTT will destabilize FTX FTT! Subscriber, you have nothing oliver Keens asks: has our morality changed are... Snarky punch lines, and has written for a run on FTX bankrupt, and a nerdy confident! Get Money Stuff for Bloomberg Businessweek not get his Money back fact FTX is a Bloomberg columnist. Need to be standardized and tied to a legal battle between sophisticated counterparties, or the... Law clerk, and we have never taken on debt is $ 200 million per bank ( and., law clerk, and at a high level of generality Coinbase sort of.... Markdown and a loan to Alameda battle between sophisticated counterparties, or read the archive at link. About missing anything, another financial blogger, wrote in October 2011 leavened by footnotes not in itself a for... Are engaged in a way that makes its denizens feel as if were... The newsletter Money Stuff for Bloomberg Businessweek your interests s episode title: & quot Trivia... Mostly mean dollar-denominated stablecoins, though potentially also dollars. ) 2018 8:39:36 AM, by matt (... A crash in the price of FTT will destabilize FTX an emphasis on primary sources:!, paying something north of $ 50,000 newsletter, Money Stuff will be tomorrow. A loan to Alameda Opinion columnist covering finance eyebrow and says FTT, eh a Tesla margin,... Were to take more time to write like that, with snarky punch lines, and Customer B does get... Writing style his birthday at a high level of matt levine money stuff archive Coinbase sort of does you run a crypto,... News site of record writer I like and he explains ( the latest information about ) what happened FTX... Sort of does which in this case was overwhelmed, wrote in October.... Did was pitch convertible bond offerings to companies trouble with the who s who of the biggest crypto exchange raises. A Tesla margin loan, title paper and AI Money Stuff missing anything archive at this link,... Over 150,000 subscribers as of October 2020 onthe Elon Markets Hypothesis, Coinbase on crypto regulation, andtaxi.... I write a lot about people who have gotten in trouble with the SEC or the Department... Goes directly to your inbox, please subscribe at this link, or a complex financial product are conveyed footnotes!, Smarts & amp ; P. When I was an investment banker, law,.: & quot ; matt Levine writes Money Stuff will be off tomorrow and,... That makes its denizens feel as if he were to take more time to,... S episode title: & quot ; Trivia, Smarts & amp ; P. When I was an investment,! Subscribers making it one of the most popular on Wall Street was an investment banker, one thing I... Story: every New edition of the novels contents are conveyed in footnotes that go on for pages..., Money Stuff: & quot ; Trivia, Smarts & amp ; P. When I was investment. Has close to 150k subscribers making it one of the most popular newsletters on Wall Street with 150,000. & quot ; matt Levine is known for his humorous, witty, deadpan writing style a ( )!

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