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The positive-sum game theory in the Trumpian crypto grift
Sometimes it’s better the devil you know.
October 30, 2025
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Where finance and media intersect with reality.
Where finance and media intersect with reality.
Sometimes it’s better the devil you know.
EU targets Russia’s A7A5, ESRB calls for bans, plus lots of chart porn.
Perhaps there’s a reason why James Bond has a license to gamble with Treasury money in Casino Royale?
The FSB raises the alarm over stablecoin asset concentration at the very short end of the yield curve and the potential for stablecoins to trigger market disruptions.
Can it really be true that most economists analyzing China don’t understand this?
The popular perception that China is a beneficiary of rising bullion prices overlooks that it is the one that needs the metals for financing. The true market signal is that rebalancing is near.
Friday’s de-pegging of Ethena’s USDe rocked crypto markets and came as if out of the blue. With more than 72 hours to gather intel and
Looks like it was a close one for the Delta-One coins like Ethena’s USDe.
Odds and ends we’ve spotted throughout the week.
Plus, Hyperliquid’s Jeff Yan argues perps are superior instruments. Meanwhile, tokenized deposits dealing in stablecoins are coming to Japan.
The Genius Act is about more than separating credit functions from payment float. It’s a form of forward guidance that says, ‘You can trust us, because we have an intent to peg. ‘