a Better Bubble™

Aggregator

The debt ceiling crisis probably cost less than half a billion dollars

2 years 5 months ago
One of the (many) downsides of the debt ceiling debacle is the possibility that it undermined faith in US treasury bonds. If that happened, interest rates on treasuries would increase, potentially costing the government billions in higher funding rates. So did this happen? A very rough back-of-the-envelope look at treasury yields suggests it did—a little ...continue reading "The debt ceiling crisis probably cost less than half a billion dollars"
Kevin Drum

SEC sues world’s biggest crypto firm over commingling and diversion of customer funds

2 years 5 months ago
Over the past year three huge crypto firms have failed: Genesis, FTX, and Three Arrows. At least two of them came to ruin because they were fundamentally corrupt and misused customer funds. But none of these three is the biggest crypto firm. Binance is. A few months ago I noted this and asked, "When Binance ...continue reading "SEC sues world’s biggest crypto firm over commingling and diversion of customer funds"
Kevin Drum