The Genius of Matt Levine
He writes a (mostly) daily newsletter for Bloomberg on finance, but his sense of humor is a chef's kiss
I am going to admit it, I am a sucker for reading about the insanity of Crypto currency and the chaos that was sown last year around the multiple failures. There are several writers I read regarding it, but one of my faves is Matt Levine. He is a columnist at Bloomberg, and he has a newsletter that you can get for free.
He writes about finance, and does it with elan. I particularly like when he waxes poetically on the shitshow of FTX/Alameda and the ecosystem of scummy operators that surrounded that turd. Today, Letitia James of the SDNY dropped a new lawsuit targeting Gemini, Genesis and the Digital Currency Group, where he just hits us with this:
More generally, the main story of crypto in 2022 was that a bunch of crypto platforms aggregated deposits from users, told those users that their money would be safe, and then handed all of it to Alameda and Three Arrows Capital to set on fire. It is theoretically possible that some of that could have happened without fraud, but it’s not great, and in fact there have been fraud cases against many of the big lenders, including Genesis, Gemini, FTX, Voyager and Celsius.
Just fucking gold. I had to share. If you want to sub, use this link.