Where finance and media intersect with reality


Crypto reflexivity and the ultimate stablecoin reading list

The day of reckoning so many naysayers warned the stablecoin market would eventually experience has finally arrived. In some respects, the shakeout is probably a good thing. We need to see these aspiring systems fail in controlled ways to understand the scope of their potential contagion if they were ever to get huge and thus […]

Why financial engineering has gone full circle with Terra

I’m really pressed for time but I wanted to get this out as it’s important. Here as a result is the longish thread-based reply I just posted on Twitter in response to this question: One question: if I buy tether, my cash was supposedly going into a short term dollar asset (asset side of tethers […]