Rise of the countercrypto influencers

A quick note to flag that I am moderating a panel with Ben McKenzie, the actor, and Jacob Silverman, the journalist, at the inaugural nocoiner conference, a.k.a the Crypto Policy Symposium, which is happening on Sept 5. I just did a short pre-interview with Ben and Jacob, so I’ve got the scoop on the fact […]

An occasional series: Why is Germany so darn dodgy?

If a state is captured by sinister or corrupt forces, and nobody in the general population realises it, how is the pursuit of truth in such a society likely to be affected? Chances are; very much the way FT journalist Dan McCrum’s investigation into Wirecard was. On 25 July 2022, Jan Marsalek was apparently spotted […]

The Kylie Jenner PJ indicator

They say if it floats, flies or [EXPLETIVE], don’t buy it: the expense of maintaining yachts and private jets can be far more expensive than buying the assets. Hence, ownership of such assets ends up a domain of not just the wealthy, but the ridiculously wealthy. And yet, the funny thing about yachts and private […]

Online grocery consolidation is coming

Online grocery shopping feels more efficient. It also looks easier to do. But is it? Is it really? True efficiency adds to productivity. In the classic textbook sense of productivity, that means for every x input you get ever more y output. For supermarket businesses, productivity translates into being able to achieve the exact same […]

A London credit whale update

*Update to the update at 1920 UK Time* Last week we brought you news of the possible return of a London whale in the European credit markets. As highlighted at the time this was based on unverified market talk. You could call it double-sourced gossip. Since then talk has widened. It’s hard to know at […]

Return of a credit derivative London whale?

The great thing about having premium subscribers is that occasionally when you come across RAW unfiltered market gossip, you can publish it in a discrete but still timestamped manner. The below is not verified. The gossip pertains to the fact that the credit derivative markets are feeling the presence of a new and potentially very […]

Checking in on blockchain hype, Blythe Masters edition

The Blind Spot gave evidence before the House of Commons science and technology committee on blockchain on Wednesday. There’s a good write-up of the whole thing here. Though one oversight of that piece is that it fails to mention Aaron Bell MP’s masterful insertion of the term “shitcoins” into the parliamentary record.  “… forgive me, […]

US oil is approaching Mad Max mode

Cushing Oklahoma is where crude that settles under the CME’s West Texas Intermediate contract must be delivered. Whenever there is a big discrepancy between the price of WTI and Brent (the latter of which trades more internationally) there is often a big incentive to store US crude there. The tankage system at Cushing, however, has […]

Is the ECB’s anti-fragmentation tool a CBDC?

The most intriguing news that came out of the ECB’s ad hoc meeting on Wednesday was that the governing council had accelerated work on a new “anti-fragmentation instrument” to help it cope with diverging sovereign bond valuations as it moves into a tightening phase. The exact wording was this: In addition, the Governing Council decided […]