Not to be too touchy-feely, but the existential problem with the U.S. stock market is the lack of real returns. Fed Chief Jerome Powell is even worse, I believe. You can either leave the stock market entirely, and take on the risk of higher interest rates eroding the value of your bonds and preferreds -- we nerds call this "duration risk." Read More...
CoinDesk
They Burned Down Crypto. Now They Want a Comeback
On Wednesday, Vox published a bombshell interview with former crypto exchange FTX CEO Sam Bankman-Fried, where the 30-year-old crypto trader all but revealed he had, in fact, co-mingled customer funds with those of his hedge fund, Alameda Research. This would be a problem on its own, as it violated FTX’s terms-of-service as well as likely falls afoul of wires or securities laws. Bankman-Fried’s crime, which “wasn’t quite lending [customer deposits] out” but something “messier,” “more organic” and “reasonable” than that, was compounded after a run on his exchange left up to one million FTX users without access to their funds.
