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It's an ADR for a company in Hong Kong. These things are notorious for being volatile but this is a particularly dramatic example.

Institutions can and do mess up in many ways. This is not new to crypto. The original intent of crypto is that everyone would hold their own private keys. It's like having cash in your wallet. You are responsible for it. But the advantage you receive is that it is technically impossible for...

It is a "big legit industry". And just like with US dollars there are an endless number of ways to give them away. That's exactly what people did. If you simply put your bitcoin or ethereum into a private wallet you will sleep well at night and you won't lose a thing.

Yes, people gave away their crypto for a promise from Celcius. I'm not sure why losing it all is any surprise. There are tons of ways you can gamble in the same way without crypto. The promises are always different but the playbook is the oldest game in existence.

All these people gave their tokens to someone else for safe keeping. I absolutely don't get it. Why bother owning crypto if you are just going to trade it for a promise from someone else? If you wanted to buy promises then you didn't need crypto for that. The reason you own crypto is because...

They are wayyyy late on this. The idea of using non-fungible tokens as some sort of collector item was a flash in the pan. Future use of NFTs will have real utility and won't be hyper links to goofy pictures.

polygon.io parses some information from EDGAR to make your life a bit easier. You would have to look at the API and see if they provide the fundamental information you are after.

It's a niche customer base. It's not designed to attract people like the place is Orlando, FL. Bitcoin diehards can go down there and live on their bitcoin for a week.

Correct. SPR levels are their lowest since 1985. Biden says he will begin purchasing oil for the SPR starting in a couple of months. The problem with market manipulations is that the market is always better capitalized than you are, even if you have the US SPR.

Exactly. For every buyer there is a seller. If you don't like the price on the order book then you are not obligated to take it. One thing you never see when people blame traders is a quantitative analysis of just why trading is doing something bad. "Bad trading" is only described in...

Does it generate a gain with relatively low standard deviation of returns? If so, how?

JackMorgan learns an awful lot around here by always putting his fingers in his ears. His block list is pretty long. lol.

It would then be cheaper for individuals and corporations to move into gold, silver, crypto, etc. How much money do you think the fed can pull from people's bank accounts each month before people take these actions and the velocity of M2 begins to rise rapidly?

So you think they are simply responding to their duel mandate and it's as simple as that? With prices screaming higher that certainly appears to be the case as well.

Sure they "can" go negative but that comes at great cost to the fed's credibility. It would create all sorts of problems with the general public who won't understand why money is being taken out of their bank account every month. The fed will go to great lengths to avoid that scenario.

Velocity changed. Look at the fed's M2 velocity chart. It dropped faster than ever. All this isn't quite so simple because it's not the consumer that caused this velocity drop. It's the banks putting their money on deposit at the fed. $2.3 trillion of it if I recall correctly. Consumers...

If it is proven that his job at Coinbase made this early information available to him then it sounds like a very clear case. Is there any chance he figured this out through an analysis of information that was already public? Just the fact that he worked at Coinbase makes him appear guilty as...

M2 turned up sharper than ever in the last 2 years but the velocity of M2 turned down sharper than ever too. I can't tell you the exact net effect but they balance each other out to a large degree with it being tipped in the direction of too many monetary units. IMO the primary reason prices...

If the money supply stays constant then you can get higher prices by either an increase in the velocity of money or a decrease in production. Google defines inflation as higher prices, so yes, one could call that inflation.

People use the term "inflation" two different ways. It's either a reference to creating more monetary units or a reference to prices. Prices can go up by creating more monetary units or with less production. World production and worker productivity fell during the pandemic. This created...